Issuu

Cardoso: Nigeria Better Positioned to Weather Current Global Economic Shocks LCCI, civil society, others commend economic reforms, seek measures to cushion impact on masses, businesses Cite lack of social protection, effect on private sector, poor infrastructure as major lapses

Ndubuisi Francis, James Emejo in Abuja and Dike Onwuamaeze in Lagos

Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, assured that the macroeconomic reforms and

policy buffers that the country had built over the past two years positioned it to navigate the current global economic shocks arising from

the geopolitical tensions occasioned by the United States–Israel war on Iran. Cardoso spoke in Lagos while

delivering the annual Distinguished Alumni Lecture of St. Gregory’s College Old Boys Association, with the theme, “Strong Foundations:

From the Classroom to the Capital Base,” in celebration of the college’s Continued on page 8

Friday 13 March, 2026 Vol 31. No 11296. Price: N400

www.thisdaylive.com TR

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& RE A S O

Federal High Court Stops Ondo Governor, Aiyedatiwa’s Reelection Bid... Page 32

ADC Gains Ground as Tambuwal, Seven Other Senators Defect to Opposition Party More lawmakers follow suit in House of Reps as Atiku’s son resigns from PDP Senate gives Abaribe seven days to justify defection from APGA or lose seat

Chuks Okocha, Adedayo Akinwale and Sunday Aborisade in Abuja

At a stirring plenary that underscored the deepening crisis within Nigeria’s opposition parties, 10

senators announced their defection to African Democratic Congress (ADC) and Nigeria Democratic

Congress (NDC) instantly altering the balance within the minority bloc and positioning ADC as the new

main opposition platform in the senate. Those who moved to ADC

included former Sokoto State Continued on page 8

Trump: Stopping Iran’s Nuclear Weapons More Critical Than Surging Oil Prices Iran’s new supreme leader says Strait of Hormuz remains closed Modi, Guterres call for dialogue

SECURITY MEETING WITH THE PRESIDENT...

Story on page 8

L-R: Directors-General of the National Intelligence Agency (NIA), Ambassador Mohammed Mohammed; Department of State Services (DSS), Mr. Adeola Oluwatosin Ajayi Chief of Army Staff, Lieutenant General Waidi Shaibu; Chief of Defence Staff, General Olufemi Olatubosun Oluyede; President Bola Ahmed Tinubu; Minister of Defence, Gen. Christopher Musa; National Security Adviser, Mallam Nuhu Ribadu; Inspector-General of Police, Mr. Tunji Disu; Chief of Air Staff, Air Marshal Sunday Aneke Chief of Naval Staff, Vice Admiral Idi Abbas and Chief of Defence PHOTO: STATE HOUSE. Intelligence, Lieutenant General Emmanuel Undiandeye, during the security meeting with the President at the Presidential Villa, Abuja, yesterday

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THISDAY • FRIDAY, MARCH 13, 2026

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0807 401 0580

NEWS

STRATEGIC PARTNERSHIP MEETING...

L-R: Officials of Chevron Nigeria Limited (CNL), Ken Ajuku and Andrew Omomehin; Chief Operating Officer, CNL, Segun Kuteyi; Governor Sheriff Oborevwori of Delta State; Managing Director and Chief Executive Officer of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku; and Executive Director, Projects, NDDC, Victor Antai, after a strategic meeting in Asaba, yesterday

US/Iran War: Nigerian Insurers to Grapple with High Reinsurance Rates at Global Market Ebere Nwoji Nigerian insurance operators will get a fair share of negative effects of the ongoing United States/Israeli attack on Iran in their next reinsurance renewal period, Commissioner for Insurance, Mr. Ayo Olusegun Omosehin, said. Omosehin said insurance business was an international business in which risk bearing was shared between local and offshore insurers. According to him for Nigerian insurers, most of their reinsurance businesses are ceded abroad to international reinsurers who determine the rate payable on any business. He said in the course of the US, Israeli/Iran war, there had been massive destructions of businesses, infrastructures, installations and structures that would expose the global Insurance landscape to huge claims, which would definitely result in upward review of reinsurance rates. As such, Nigerian underwriters who reinsure most of their high-tech businesses abroad would face high reinsurance rate when they want to do their next round of business renewals. Nigerian fulfil federal government’s local content law of feeding

local insurance and reinsurance firms with businesses before taking the surplus offshore, often reinsuring businesses with global reinsurance giants, like Swiss Reinsurance Ltd, Munich Reinsurance, Lloyd’s of London, Allianz, AXA and GIC Re of India, among others. The giant reinsurance firms determine premium rate payable on all classes of reinsurance business coming from across the globe and most times the quantum of claims payable on these risks and

frequency of risks occurrence are determined offshore, not in Nigeria. Nigerian insurers primarily seek reinsurance cover abroad for high capacity, complex and emerging high-tech risks that the local market was not yet equipped to handle as well as remnant from what the local content law cannot accommodate. Some of the risks were cybersecurity and electronic fraud risk, oil and gas/energy risk, technology and critical digital assets risks, bankers and blanket bonds risk,

aviation risks, energy transition and Infrastructure risks among others. At a press briefing on the activities of NAICOM, Wednesday in Lagos, Omosehin said because of massive destruction of oil installations in Iran as a result of the war the global insurance and reinsurance market would be inundated with high claims rate which would cause reinsurers to upscale their reinsurance rate. According to him, this would have trickle-down effect on Nigerian

insurers who will next year or even this year be visiting the global reinsurance arena for renewal of their reinsurance policies. NAICOM, however, assured Nigerian insuring public that no policyholder would suffer losses as a result of the ongoing recapitalisation and reform programme going on in the insurance sector. Omosehin assured Nigerians that the recapitalisation exercise, which deadline remains July 31st, was aimed at building a stronger

FG Seeks Closer Development Collaboration with UNDP Lauds international body’s years of support

Deji Elumoye in Abuja

Nigeria has lauded the United Nations Development Programme (UNDP) for its many years of support through development programmes, affirming that the federal government will continue to leverage UNDP’s support and expertise to accelerate the country’s reform agenda. Chief of Staff to the President, Hon. Femi Gbajabiamila, gave the commendation on Thursday at State

House, Abuja, when he received UNDP Resident Representative, Ms Elsie Attafuah, on a courtesy visit. Gbajabiamila stated, “UNDP has been around in this country for long and some of the things you have done, over a wide range of areas, are commendable. I want to thank you, once more for your support for President Tinubu’s reform programmes. “For instance, you talked about Made-in-Nigeria policy, which is part of Mr. President’s reform agenda

through which the president wants to bring into his administration a commitment to industrialisation. Some call it Nigeria First. “The president is passionate about it. We had the local content in the oil industry, but this is a much wider concept. How can we practicalise this and make it work, with all of its value chain and all that come with it: employment, growth in the economy, among others.” The chief of staff said Nigeria would also encourage the agency’s

intervention in higher female gender participation in politics and governance, as in some African countries. He stated that the agency’s experience across other climes could assist Nigeria achieve the desired result without offending sensibilities, cultures and religion. Gbajabiamila added that UNDP could further assist in poverty reduction, education, agriculture and the mining sector. Earlier, the UNDP resident representative appreciated the

FG Approves N2bn Each as Take-off Grant for Epe University, Tinubu Polytechnic Kuni Tyessi in Abuja

The federal government has announced the approval of N2 billion each as take-off grants for Bola Ahmed Tinubu Federal Polytechnic, Abuja, and Federal University of Science and Technology, Epe, Lagos State as part of efforts to support their early operations and development. It has also inaugurated the pioneer rector of the Polytechnic, Abuja, and the principal officers of the university to strengthen leadership and governance in Nigeria’s tertiary education sector. Minister of Education, Dr. Tunji Alausa, presented certificates of appointment to the newly appointed leaders during an inauguration

and more resilient insurance sector. He said the recapitalisation programme was a key pillar of the reform agenda aimed at strengthening insurers’ capital base, improving claims settlement capacity, and enhancing the ability of Nigerian insurance companies to underwrite larger risks across major sectors of the economy. He stated that the recapitalisation exercise would place insurance firms on a better standing to pay claims seamlessly.

ceremony held in Abuja yesterday. Among those inaugurated were Prof. Nosiru Onibon as the pioneer Rector of the Bola Ahmed Tinubu Federal Polytechnic, Abuja; Dr. Angela Ajala as the Executive Secretary of the National Commission for Colleges of Education (NCCE); and Prof. Adeola Oshikoya as the Vice-Chancellor of the Federal University of Science and Technology, Epe. Speaking at the ceremony, Alausa said the establishment of the Federal University of Science and Technology, Epe, and the Bola Ahmed Tinubu Federal Polytechnic, Abuja, goes beyond merely expanding the country’s tertiary education system. According to him, the institutions

are part of broader efforts by the administration of President Bola Ahmed Tinubu to strengthen access to quality education and develop capacity in science, technology and innovation. “Every child in this country deserves access to the highest quality education comparable to global standards. The appointees were carefully selected based on their record of service and achievements across Nigeria’s educational institutions,” the minister said. He reminded the newly appointed officers of the responsibility placed on them, noting that leadership would play a crucial role in shaping the direction and identity of the institutions. “To whom much is given, much

is expected. You have been chosen from millions of Nigerians to serve your country, and this recognition extends to your families as well,” he added. Alausa explained the institutions are strategically positioned to address pressing national and global challenges, including food security, public health, climate change, renewable energy and technological advancement. He noted that their locations— Epe in Lagos State and Abuja in the Federal Capital Territory—were deliberately chosen to harness the human capital and economic potential of the regions. “These institutions will serve as centres for innovation and platforms for nurturing the talent needed to

propel Nigeria forward,” he said. The minister further emphasised that the institutions are expected to evolve into centres of excellence in areas such as technological innovation, renewable energy, climate change adaptation, disaster risk management and sustainable research. He also congratulated the newly appointed NCCE Executive Secretary, stressing that teacher education remains a priority for the federal government. “Without the best teachers, we cannot produce the best students. Your leadership will be vital in safeguarding the values of our colleges of education and expanding opportunities for aspiring educators across the country,” he said.

cordial relationship the agency had with Nigeria within her two years in Nigeria. She commended Tinubu’s exemplary and transformative leadership, saying it has been “inspirational and encouraging”. Attafuah stated, “We are here to seek how we can continue to position Nigeria, as the leader and giant of Africa; to ensure that we support Nigeria’s development initiatives and aspirations. “We are here also to reflect on what are some of the things that we can do as the largest development agency in the United Nations family.” Attafuah explained that with the exit of many donors, the agency was shifting from a project-based approach to government-financing, long term thematic approach, saying it is imperative for national governments to take up their own development initiatives through prudent resource utilisation. She said UNDP saw the MadeIn-Nigeria policy as a development catalyst capable of creating jobs, and driving economic competitiveness, trade, and innovation. Attafuah revealed that UNDP had unveiled the University Graduate Hub initiative, through which graduates could upload prototypes of their products and creativity and get financiers. She said the agency was also looking at collaboration in the education and energy sectors.

FRIDAY, MARCH 13, 2026 • THISDAY

NEWS

NIPR’S VISIT TO HADIZA BALA USMAN...

L-R: Member, Nigerian Institute of Public Relations (NIPR), Mrs. Moji Makanjuola; Chairman, NIPR International Women’s Day Planning Committee, Mrs. Lami Tumaka; Special Adviser to the President on Policy and Coordination, and Head, Central Results Delivery Coordination Unit (CRDCU), Hadiza Bala Usman; and Member, Nigerian Institute of Public Relations (NIPR), Mrs. Maryam Sanusi, during the institute’s visit to the CRDCU office in Abuja

IMF to Engage Senate on Nigeria’s Economic Outlook, Tinubu’s Reforms Upper chamber confirms Dakingari as Non-Career Ambassador, Yusuf as NAHCON Chairman, Jamila Abubakar-Sadiq as INEC Commissioner Adjourns plenary till March 31 for Sallah celebration

Sunday Aborisade in Abuja Senate on Thursday disclosed that its leadership will meet with officials of the International Monetary Fund (IMF) in a high-level engagement to discuss Nigeria’s economic outlook and the reform programmes being implemented by the President Bola Tinubu administration. The planned interaction, part of IMF’s ongoing Article IV Consultation

with Nigeria, is expected to provide lawmakers with deeper insight into the country’s economic management framework and the possible support the global financial institution can offer for the federal government’s sweeping economic reforms. The development was conveyed to senators through a notice issued by Clerk of the Senate, Emmanuel Odo, and read during plenary by Deputy President of the Senate,

Barau Jibrin. According to the notice, the IMF mission to Nigeria scheduled the consultation exercise to take place from March 4 to March 17, during which the team will hold consultations with key government institutions. The letter explained IMF had specifically requested a high-level interaction with the senate leadership as part of the engagement process.

It notice read in part, “The Federal Office of Finance wishes to inform the leadership of the Senate and distinguished senators that at the instance of the Federal Government of Nigeria, the International Monetary Fund Article IV Consultation in Nigeria has been scheduled to hold from March 4 to March 17, 2026. “The IMF mission team will engage select government institutions in meetings. Accordingly, it

NNRA, EU Strengthen Nuclear Safety Framework, Close 30-month Cooperation Project FG commits to safe use of nuclear energy

Emmanuel Addeh in Abuja Nigeria has taken a major step toward strengthening its nuclear and radiation safety architecture following the conclusion of a two-and-a-half-year cooperation project implemented by the Nigerian Nuclear Regulatory Authority (NNRA) with support from the European Union (EU). At a dissemination workshop and closing ceremony held in Abuja yesterday, government officials and international partners highlighted how the project significantly enhanced Nigeria’s regulatory framework, technical capacity and institutional readiness for the safe use of nuclear technology across critical sectors. Representing the Ministry of Petroleum Resources, the Permanent Secretary, Patience Oyekunle, said the initiative demonstrated the impact of partnerships built on shared responsibility and a commitment to safety and sustainability. She noted that the collaboration between Nigeria and the EU had strengthened the country’s nuclear safety infrastructure in line with global standards. According to her, nuclear and radiation technologies already play an important role in Nigeria’s national development, particularly in sectors such as oil and gas,

healthcare, agriculture, industry, research and energy planning. She stressed that while these technologies provide enormous benefits, safety must remain the overriding priority in all peaceful applications. Oyekunle explained that several key frameworks developed under the project would significantly improve regulatory oversight in Nigeria. Among them is the draft National Nuclear and Radiation Safety Policy and Strategy, which outlines Nigeria’s commitment to ensuring safety in the use of nuclear technology. She added that the project also produced a newly drafted regulation on the licensing of nuclear facilities, completing Nigeria’s regulatory framework for nuclear oversight. In addition, she said the development of an Integrated Management System (IMS) would enhance regulatory decision-making by ensuring transparency, consistency and improved quality control. Oyekunle expressed appreciation to the EU for its financial and technical support, describing the project as a milestone in Nigeria’s efforts to align its nuclear safety systems with international best practices. “These achievements are essential to the dedication and the hard work carried out over the past two and a half years. They reflect the commitment of our technical experts, project

leaders, and in particular leaders who worked diligently to translate project objectives into measurable outcomes,” she emphasised. Also, Director General of the NNRA, Dr. Yau Idris, who was represented by the General Manager for Radiological Safety, Farouq Ingawa, said the initiative had strengthened the authority’s institutional capacity and regulatory effectiveness. According to him, the project, implemented under the European Union’s Instrument for Nuclear Safety Cooperation (INSC), helped align Nigeria’s nuclear regulatory frameworks more closely with

international standards. He explained that the programme was structured across five task groups covering key operational areas of the regulatory authority. Idris emphasised that although the project had formally concluded, the work of strengthening nuclear safety in Nigeria would continue. He noted that the regulations developed under the initiative would need to be formally approved and implemented. “As we conclude this project, we do not see an end, we see continuity. The foundations laid here must now be fully institutionalised. Regulations must be approved and gazetted,” the NNRA Chief Executive explained.

has requested a high-level meeting between the President of the Senate and the IMF mission team during which it intends to engage the Senate on matters of economic management.” The consultation session is expected to focus on Nigeria’s economic outlook as well as strategies through which the IMF could support the reform agenda of the Tinubu administration. The notice further stated the meeting would “provide insights on Nigeria’s economic outlook and how the IMF can establish support for the ongoing reforms of the federal government.” To ensure robust legislative participation, the leadership of the senate invited chairmen of critical committees whose mandates intersected with fiscal and economic policy. They included committees on Banking, Insurance and Other Financial Institutions; Appropriations; Capital Markets; Finance; Petroleum Resources (Upstream); National Planning and Economic Affairs; and Public Accounts. The engagement between the IMF team and the senate leadership is scheduled to hold at Conference Room 301 of the New Building, National Assembly Complex, Abuja, from 2pm to 3pm. Senate also confirmed three key nominations submitted by Tinubu for federal appointments. The red chamber approved the

nomination of former Governor of Kebbi State, Usman Dakingari, for appointment as a Non-Career Ambassador. It also confirmed Ambassador Ismail Abba Yusuf as Chairman and Chief Executive Officer of National Hajj Commission of Nigeria (NAHCON). In addition, the senate confirmed the nomination of Rear Admiral Jamila Abubakar-Sadiq (retd.) as National Electoral Commissioner representing the North-east geopolitical zone in the Independent National Electoral Commission (INEC). The confirmations followed the consideration and adoption of reports presented by relevant senate committees after screening the nominees. The report recommending Dakingari’s confirmation was presented by Chairman of Senate Committee on Foreign Affairs, Senator Abubakar Bello (APC, Niger North). Presenting the report, Bello said the committee found the nominee qualified for the diplomatic assignment after assessing his credentials and experience in public service. Similarly, the confirmation of Yusuf as NAHCON chairman was part of the committee’s recommendations adopted by Senate. The red chamber also considered the report of Senate Committee on Electoral Matters, which screened Jamila Abubakar-Sadiq for appointment as National Electoral Commissioner in INEC.

UBA Hosts ‘Gen.W: The Evolved Woman’ Celebrating Female Leadership

Kayode Tokede

United Bank for Africa (UBA) Plc, yesterday hosted a captivating edition of its quarterly Business Series, bringing together accomplished female leaders and entrepreneurs to discuss the theme “Gen.W: The Evolved Woman.” The hybrid session which was held at the UBA House in Marina Lagos and also transmitted live to participants across the globe, is part

of activities to mark the International Women’s Month and focused on the evolving role of women in leadership, business, and innovation, highlighting how African women are redefining success while also creating sustainable impact across their various spheres of operation. UBA’s Group Head, Customer Experience, Michelle Nwoga, who gave the opening remarks at the event, explained the evolved woman is one who is taking charge,

volunteering and making their voice heard above the noise. The event was moderated by popular media personality and actor, Tobi Bakre; who said, “When I think about the evolved woman, I personally do not see a checklist or a finish point. In my own opinion, it is a woman who is grounded in her own self-worth and gives room for other women to be grounded in theirs, choosing herself daily and ultimately letting

other women around her know and believe that they belong here too.” The event featured panel conversations with leading entrepreneur and founder of ORÍKÌ Group, Joycee Awosika; celebrated media personality and digital entrepreneur Tomike Adeoye; founder of Fine-Funky, Olufunke Davies, and award-winning broadcaster, Ayo Mario-Ese who shared experiences around their struggles and eventual evolution as female business owners.

THISDAY • FRIDAY, MARCH 13, 2026

NEWS

FCCPC BRIEFS THE PRESS...

L-R: Special Adviser to the President on Media and Public Communications, Mr. Sunday Dare; Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga; Executive Vice Chairman and Chief Executive Officer, Federal Competition and Consumer Protection Commission (FCCPC), Mr. Tunji Bello; and Executive Commissioner, Operations, FCCPC, Mr. Louis Odion, during the State House “Meet the Press” briefing held at the Presidential Villa, Abuja, yesterday PHOTO: GODWIN OMOIGUI

FCCPC Monitoring Rising Fuel Prices Amid Middle East War Warns against consumer exploitation To demand refunds from six airlines that exploited passengers during 2025 yuletide

Deji Elumoye in Abuja Federal Competition and Consumer Protection Commission (FCCPC) on Thursday reacted to the rising cost of fuel across the country, saying it is closely monitoring the effect of the ongoing United States-Israel war against Iran on petrol prices and other consumer goods in Nigeria. FCCPC warned firms against exploiting the situation to the detriment of Nigerians. Executive Vice Chairman and Chief Executive Officer of the commission, Mr. Tunji Bello, who disclosed this while briefing newsmen at State House, Abuja, said the commission had already deployed monitoring teams nationwide to track changes in fuel prices and other essential commodities affected by the global energy shock triggered by the conflict. Bello explained that petrol prices had a ripple effect on many consumer goods and services, and the commission will not tolerate unjustified price hikes. He stated, “We are presently monitoring the situation as it affects prices in Nigeria because petrol has supply effects on some of the things we eat or take on a daily basis.”

Says telecom, fintech, energy sectors generate highest complaints from Nigerians

Bello stressed that the commission was working closely with regulators in the petroleum sector to ensure compliance with prevailing price trends. According to him, “Our monitors are already outside monitoring developments. If suppliers reduce prices by N100 or N200 and some filling stations are still selling for N1,500 per litre or higher, we will ask questions and take the necessary steps.” He stressed that the President Bola Tinubu government had recorded “massive economic gains” in the past two years, and FCCPC would ensure that external shocks did not translate into consumer exploitation. Bello also revealed that investigation had confirmed that no fewer than six airlines exploited Nigerians during the 2025 yuletide travel period. He said the commission had concluded investigations into the hike in ticket prices and would soon publish its final report. According to him, the findings can lead to sanctions as well as refunds to affected passengers. Bello stated, “We have carried out a full investigation on the issue of airlines during the Yuletide period. The final report will be published

soon, and where refunds are necessary, they will be demanded.” The FCCPC boss said the move was part of the commission’s mandate to ensure fairness in the market place and protect consumers from exploitative practices. He disclosed that telecommunications, energy, and financial technology sectors accounted for the highest

number of consumer complaints in the country. Bello explained that issues related to electricity supply, digital lending platforms, telecom service charges and bank transactions dominated the complaints received by the commission. He said, “In major cities like Lagos, Abuja, Ibadan and Kaduna, most of

the complaints we receive border on fintech, energy, and telecom services, and also banks.” Bello said electricity-related complaints were particularly widespread, largely due to estimated billing and disputes over service quality. According to him, FCCPC is working to ensure that electricity distribution companies deliver the

promised service levels, particularly under the band-based tariff system. “Consumers who are placed on Band A expect at least 20 hours of electricity daily. If they are paying the higher tariff, they must receive value for their money, and we are holding the companies accountable for that commitment,” he said.

Nigerian-Turkish Alumni to Upscale Charity Activities in Nigeria for Greater Impact Donates to orphanages in Anambra, Imo

Omon-Julius Onabu in Asaba

The Türkiye Old Boys Association, comprising Nigerian alumni of various universities in Türkiye, has given hints about plans to expand the philanthropic dimension of its annual cycle of activities with the addition of an empowerment programme that will include scholarships and skills acquisition for indigent students and other less privileged youths

in Nigeria. The group, which has for several years embarked on philanthropic activities such as making donations of cash, food and other items to orphanages and other centres for the less privileged and vulnerable, started out with end-of-the-year get-together exclusively for its members. However, it decided to include sharing the joy of Christmas and New Year with the less privileged and vulnerable, a practice it has consistently pursued for some years, including the last 2025/2026 season

that saw its charity ship berthing in Imo and Anambra states. In an annual project review statement made available to THISDAY in Asaba, the initiator and international coordinator of the group, Germany-based journalist and prolific writer, Friday Agbonlahor, described the annual donation to orphanages as a gesture of love and humanity that complements the efforts of other good-spirited Nigerians. Agbonlahor, who writes under the pen-name, Frisky Larr, added that members of the Turkish Universities’

Association across Nigeria and the Diaspora had resolved to transcend the seasonal charity project in future. The association’s charity principle was partly inspired by the general recognition among Nigerian traditions that “None is too poor give a helping hand”, he stated. Society would be better off, in terms of peace and security, if individuals expressed their humanness more and did not leave the less privileged or socio-economically challenged to suffer avoidable want and pain, often due to no fault of theirs.

Blessing Ibunge in Port Harcourt

tive responsibility to sustain the progress of the Ogoniland cleanup, seeking stakeholders support “as we prepare to introduce a comprehensive, sustainable management plan for the Ogoni mangrove wetland”. Speaking further, the project coordinator disclosed that recently, Ogoniland mangrove wetland was officially designated as a Ramsar Site of International Importance by the Secretariat of the Ramsar Convention on Wetlands. He said the global recognition highlights the ecological value of

Ogoniland’s mangrove wetlands and affirms the importance of HYPREP’s ongoing, extensive restoration of oil-degraded mangroves in Ogoni. Prof. Zabbey stated the mangrove wetlands are vital for maintaining biodiversity, safeguarding the environment, and supporting sustainable livelihoods. According to him, “The designation is a proud moment for HYPREP, the people of Ogoni, and all stakeholders working towards the restoration and protection of the Ogoni environment”.

ECCIMA: 37th Enugu Trade Fair to Focus on Strengthening SMEs for Global Competitiveness HYPREP Reiterates Commitment Onyemelukwe expressed optimism to develop into globally competitive Gideon Arinze in Enugu that the 37th edition of the fair would to Restoring Ogoni Environment brands. Onyemelukwe said that the be successful despite prevailing The 37th edition of the Enugu International Trade Fair will focus on strengthening Small and Medium Enterprises (SMEs) to compete globally, organisers have said. The President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Nnayelugo Onyemelukwe, disclosed this yesterday while addressing a press briefing ahead of the event scheduled to hold from March 21 to 30, 2026 in Enugu. According to him, the theme of this year’s fair is “Empowering MSMEs for Global Competitiveness,” with a strong emphasis on supporting them

chamber had made appreciable progress in preparations to ensure the success of the fair and provide value for all stakeholders. He noted that a thriving economy driven by free enterprise is essential for sustaining democracy, stressing the need for governments at all levels to prioritise policies that support business growth and industrial development. “Unlocking Nigeria’s industrial potential requires harnessing both the oil and non-oil sectors of the economy to strengthen value chains and promote sustainable economic growth,” he said.

economic challenges, noting that the chamber had already received several enquiries and expressions of interest from corporate organisations and institutions. “Some companies have begun constructing exhibition stands and branding their spaces, indicating strong participation in the upcoming fair,” he said, adding that the event would also highlight opportunities in agriculture, particularly commercial farming, as part of efforts to boost job creation, food security and value-chain development through agro-processing and agro-allied industries.

The Hydrocarbon Pollution Remediation Project (HYPREP) has reiterated its commitment to restoring the Ogoni oil polluted environment. A statement by the Project Coordinator, HYPREP, Prof Nenibarini Zabbey, said the federal government agency is committed to restoring the Ogoni environment through remediation and restoration of oil-damaged land, shorelines, and mangrove areas. He however, called for collec-

FRIDAY, MARCH 13, 2026 • THISDAY

EIGHT

OPEC: Nigeria’s Crude Oil Production Dips by 10% to 1.31m bpd in February NNPC cuts petrol prices to N1,130/litre in Lagos, N1,165 in Abuja

Peter Uzoho

Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February, according to the Organisation of Petroleum Exporting Countries (OPEC) data. But Nigerian National Petroleum Company Limited (NNPC) reduced the petrol pump prices to N1,130 per litre in Lagos and N1,165 in Abuja. OPEC, in its monthly report released yesterday, said Nigeria’s oil production figure represented a 10.69 per cent decline from 1.45

million bpd output in the prior month. The oil cartel said its production figures were derived from direct communication with Nigerian authorities. OPEC usually sourced its crude oil output data from two channels: direct communication from member countries and secondary sources, such as energy intelligence platforms. The latest figures showed that Nigeria failed to meet its 1.5 million bpd production quota, falling short by about 190,000 bpd.

However, the global oil organisation said Nigeria sustained its position as Africa’s leading oil producer, surpassing Libya, which recorded an output of 1.28 million bpd. The oil cartel said data from secondary sources placed Nigeria’s crude production at 1.46 million bpd in February — a 0.68 per cent drop from the 1.47 million bpd recorded in January. Citing secondary sources, OPEC said member nations’ “total DoC crude oil production averaged 42.72

mb/d in February 2026, which is 445 tb/d higher, m-o-m”. On March 2, OPEC and its allies agreed to raise oil production by 206,000 bpd from April amid growing geopolitical tensions in the Middle East. The Middle East conflict, caused by the United States-Israeli war on Iran had triggered significant volatility in global markets as crude oil prices crossed a $100 per barrel on March 9 — the highest level since July 2022 — before easing to $87 the next day.

The decline in crude oil production will reduce Nigeria’s oil revenue and prevent the country from fully benefiting from the rising crude oil prices. Meanwhile, NNPC Limited slashed the price of petrol at its retail outlets to N1,130 per litre in Lagos and N1,165 per litre in Abuja. The price dropped by N100 from N1,230 per litre in Lagos and by N95 from N1,260 per litre in Abuja. Other marketers also cut their retail prices in response to the earlier gantry and coastal price reductions

NNPC Boss, Engr. Bashir Ojulari by Dangote Refinery following the drop in crude oil prices.

TRUMP: STOPPING IRAN’S NUCLEAR WEAPONS MORE CRITICAL THAN SURGING OIL PRICES

Emmanuel Addeh in Abuja

Amid soaring oil prices and global panic, US President Donald Trump yesterday set his priorities straight, stressing that stopping Iran from having nuclear weapons is of “far greater importance” to him than surging oil prices. While the world scrambles to deal with the oil crisis in the face of the closure of the Strait of Hormuz amid the ongoing US-Iran war, Trump said that Washington, being the “largest oil producer in the world”, makes money when

oil prices go up. In a post on Truth Social, he said: “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money. But, of far greater interest and importance to me, as President, is stopping an evil Empire, Iran, from having Nuclear Weapons, and destroying the Middle East and, indeed, the world. I won’t ever let that happen! Thank you for your attention to this matter.” This comes against the backdrop of the US-Iran war, which has spilt over into the Middle East, disrupting

global oil supply. Trump’s remarks on the Iran war have been contradictory. On the one hand, he has spoken of the war “ending soon”, while on the other, he said that the US military is “not finished yet”. The US President also asserted that he is not worried about any Iranian attack on US soil. “We have hit them harder than virtually any country in history has been hit, and we’re not finished yet,” Trump told reporters outside the White House. The International Energy Agency (IEA) said the war is creating the biggest oil supply shock ever

recorded in the global markets. Middle Eastern Gulf producers have reportedly reduced their output by 10 million barrels per day, which is nearly 10 per cent of the global oil demand. Global benchmark Brent crude briefly soared past $100 per barrel, rising as much as 10 per cent during trading on Thursday, Bloomberg reported. West Texas Intermediate climbed close to $96 per barrel before prices eased slightly. In a bid to help ease the pressure on global markets, the IEA earlier announced the coordinated release

of 400 million barrels of oil from emergency reserves of its member countries. The US also said that it would release 172 million barrels of oil from its Strategic Petroleum Reserve (SPR), according to the Hindustan Times.

Iran’s New Supreme Leader Says Strait of Hormuz Remains Closed

“Iran will not refrain from avenging the blood of its martyrs,” Khamenei said, calling for unity among the Iranian people. Khamenei, 56, is seen as more hard-line and conservative than his father, although he kept a low profile in Iran before he was elected to succeed him as supreme leader. U.S. President Donald Trump expressed “disappointment” in his selection by Iranian senior clerics, telling Fox News, “I don’t believe he can live in peace.” Despite Trump’s comments, it’s unclear whether the White House is aiming for regime change in Tehran as one of its main objectives in its military operation. Experts have said that airstrikes alone are unlikely to be enough to unseat Iran’s leadership. There are no signs that the U.S.Israeli strikes on Iran’s critical and military infrastructure are nearing a conclusion, with air and sea attacks intensifying this week. Iran has also stepped up its retaliatory assaults this week, attacking tankers in or near the Strait of Hormuz. Khamenei noted that Iran will seek compensation from enemies “or destroy their assets accordingly.”

Iran’s new Supreme Leader, Mojtaba Khamenei, said yesterday that the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” in his first public statement being appointed. ADC GAINS GROUND AS TAMBUWAL, SEVEN OTHER SENATORS DEFECT TO OPPOSITION PARTY since Khamenei also said all US military Governor and ex-Speaker of the announcement of defections quickly claim regarding APGA, an omission stated in Section 68(1)(g) of the bases in the Middle East should close House of Representatives, Senator turned into a constitutional show- that immediately drew attention constitution, is against the provisions immediately and “those bases will Aminu Tambuwal (Sokoto South), down when lawmakers challenged on the floor. of the law and warrants appropriate be attacked,” in a message shared Sensing a constitutional breach, action regarding the Abia South by State Media. and Senator Victor Umeh (Anambra the legality of Abaribe’s move from senators quickly invoked Section senatorial seat,” he said. APGA. Central). Oil prices extended gains followThe tension-filled exchange 68(1)(g) of the 1999 Constitution, Others were also Senator Tony The intervention triggered ing the statement, read out by a state Nwoye (Anambra North); Senator forced Senate President Godswill which stipulates that a legislator murmurs across the chamber and TV broadcaster. The shipping of oil Lawal Adamu Usman (Kaduna Akpabio to issue an ultimatum must vacate his seat if he defects ignited a spirited debate among through the Strait of Hormuz has Central); Senator Mohammed to the outspoken Abia lawmaker, from the political party that senators over the constitutional effectively stopped since the war Ogoshi Onawo (Nasarawa South); saying he must produce evidence sponsored his election unless the implications of the defection. began, causing global oil prices to Senator Augustine Akobundu (Abia within one week to prove that party was divided. Responding, Abaribe rose to soar. Iran warned on Wednesday Acting on the directive of the defend his action, insisting that that the price per barrel could climb Central); Senator Ireti Kingibe (FCT); he was expelled from APGA, or and Senator Binos Yaroe (Adamawa risk losing his seat in the National senate president, Deputy Senate his case was unique because he to $200. President, Barau Jibrin (Kano North) had already been expelled from Assembly. It’s Khamenei’s first public South). The dramatic developments scrutinised the letters of defection APGA months earlier. comments since being appointed India’s Modi, UN’s Guterres The letter by Senator Seriake Dickson (Bayelsa West), who unfolded shortly after Akpabio and raised a strong objection to The Abia South ranking senator as Iran’s supreme leader on March Call for Dialogue, Diplomacy recently left Peoples Democratic read letters from the defecting Abaribe’s move. said, “I am a lawyer. This section of 9 after the assassination of his father, leader, Narendra Modi, “Mr President, having examined the constitution does not address a Ayatollah Ali Khamenei, in U.S.- hasIndian Party (PDP) for the Nigeria Demo- senators during plenary. urged the Iranian president The seemingly calm atmosphere the letters forwarded to you and situation where a person is sacked Israeli air strikes which began in to de-escalate cratic Congress (NDC), a party he the war and seek founded, was also read at plenary. in the chamber shifted abruptly read on the floor, I observed that from his party. I was sacked from late February. “dialogue and diplomacy”. Mojtaba Khamenei was injured in Most of the defectors cited deep when Abaribe’s defection letter one of the parties, APGA, from APGA in September 2025 and I The prime minister of India told which Senator Abaribe defected have the letter here.” the attack on his father’s compound, Masoud Pezeshkian, who formed internal crisis, leadership disputes, was read. Unlike others who cited divisions is not engulfed in any crisis or But the claim failed to immedi- which killed the ayatollah and other part of Iran’s temporary leadership and persistent litigations within their immediate members of the family, former parties as reasons for their within their parties as justification division at the national level. for defecting, Abaribe made no such “Abaribe’s defection, as clearly Continued on page 32 CNBC reported. Continued on page 33 decision. Tambuwal, in the letter announcing his resignation from CA R D O S O : N I G E R I A B E T T E R P O S I T I O N E D TO W E AT H E R C U R R E N T G LO B A L E C O N O M I C S H O C KS PDP, lamented what he described Founders Day. economy is facing renewed shocks, during moments of uncertainty.” line with the established compliance per cent to around 15 per cent today. as prolonged internal divisions that According to him, institutions timeline.” He said the theme was a reminder including continued geopolitical ten“And I must tell you that our had eroded the cohesion of the that the principles that shaped sions and the latest developments like St. Gregory’s, do more than He disclosed that the current goal is to bring it down to single once-dominant opposition party. strong individuals were the same in the US–Israel–Iran conflict. educate, as they build foundations, as recapitalisation exercise was digit though it is not something to “The persistent internal crisis, principles that ultimately shaped “These events have the potential well as cultivate character, discipline, awakening international investors’ be accomplished overnight. leadership disagreements, litigations strong institutions and economies. to push energy prices higher, disrupt intellectual curiosity, and integrity. confidence in Nigerian banks, saying “Our commitment to transparand divisions within the party Cardoso stated, “These are not major investment announcements ent, well-governed, and functional The CBN’s governor’s assurance supply chains, and increase risk at various levels have made it came on a day critical stakeholders aversion among global investors. abstract virtues but practical tools would be made this year. markets is also clear in the foreign increasingly difficult for me to from the private sector, academia, Cardoso emphasised that CBN’s exchange market.” “But the macroeconomic reforms that shape how individuals make continue my active participation and civil society conceded to the and policy buffers we have built decisions, manage responsibility, and return to an orthodox monetary He stressed, “Through deliberate and commitment as a member of need for the current reforms by the over the past two years have placed navigate uncertainty throughout life.” policy environment in 2023 had policy actions, we eliminated the the Peoples Democratic Party,” he federal government. He said over the past two resisted pressures to continue system of multiple exchange rates Nigeria in a far stronger position to wrote. decades, Nigeria’s financial system quasi-fiscal interventions that previ- that had previously benefitted only However, they expressed concern navigate these challenges. Similarly, Kingibe blamed her that the hasty implementation “The storms may come, but had grown significantly, stating, ously distorted the macroeconomic a privileged few. exit from Labour Party (LP) on without social protection as well our house will stand firm. Strong however, that growth on its own landscape. “At the same time, we reduced unresolved leadership conflicts. as poor infrastructure had continued foundations matter: whether for is not enough and must be matched He said statisticians in due time the parallel market premium from “This decision has become to exert a heavy toll on businesses individuals, institutions, or nations.” by resilience and strengthened capac- will come out with numbers to around 50 per cent in 2022 to less inevitable due to the protracted and the masses. The CBN governor added, ity. He said it was in this context show that not many countries in than two per cent on average in and seemingly irreconcilable crisis The stakeholders converged on “Many of you will know the lesson that CBN introduced the banking the world could compare to the 2025.” within the Labour Party,” she said. Abuja at a stakeholders’ dialogue of building a house on solid rock recapitalisation programme in 2024. amount of excess money that went The central bank governor said, However, the senate, yesterday, on, “Sustaining and Deepening versus building on sinking sand Cardoso stated, “As of today, into the Nigerian system through currently, Nigeria’s foreign exchange gave Senator Enyinnaya Abaribe, Economic Reforms in Nigeria,” or a crumbling bank. March 12, 2026, 33 banks have ways and means under the past market operated with far greater from Abia South, seven days to organised by Agora Policy, in col“Foundations matter because they successfully raised additional capital, unorthodox regime. liquidity and efficiency, and has justify his defection from All laboration with Nigerian Economic determine whether a structure can and 30 have already met the new The CBN governor stated, “Our cleared the backlog of unmet deProgressives Grand Alli-ance Summit Group (NESG), with sup- withstand the storms that inevitably minimum capital requirements for fight against inflation has been mands. He said market participants (APGA) or risk losing his seat, a port from Nigeria Economic Stability come. their respective license categories. resolute, and the tight monetary were now able to transact without treatment totally different from what and Transformation (NEST) and “The same is true for economies. “The remaining institutions are policy stance we adopted has relying on extraordinary central was extended to others. The strength of economic founda- currently undergoing the Central significantly contributed to bringing UK International Development. But what began as a routine Continued on page 34 Cardoso said, “Today, the global tions often becomes most visible Bank’s routine verification process in inflation down from a peak of 34

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COURTESY VISIT TO THE SENATE PRESIDENT BY DIG OCHALLA...

L-R: Senate Minority Leader, Sen. Abba Moro; Chief Charles Orakpo-Sim (spouse to the DIG); Deputy Inspector-General of Police, Force Criminal Investigation Department (FCID), DIG Margaret Agebe Ochalla; President of the Senate, Sen. Godswill Akpabio; Miss Pearl Orakpo-Sim; Deputy Senate President, Sen. Jibrin Barau; Senate Leader, Sen. Opeyemi Bamidele; and Chairman, Senate Committee on Agriculture and Productivity, Sen. Saliu Mustapha, during a courtesy visit to the senate president by DIG Ochalla, yesterday PHOTO: SENATE PRESIDENT’S OFFICE

Farmers’ Group Seeks Partnership with FG to Accelerate Ward Development Programme Bagudu: Initiative will overhaul development framework by promoting stronger cooperation among tiers of government, others

James Emejo in Abuja A group of farmers, under the aegis of Crop, Aquaculture, Livestock Farmers and Value Chain Economic Actors Association of Nigeria (CALFAN), has proposed partnership with the federal government to accelerate the implementation of the Renewed Hope Ward Development Programme, a grassroots economic emancipation initiative of the President Bola Tinubu

administration. Unveiled in 2025 by Tinubu, the programme aimed to reset development planning by boosting economic activities at the ward level through collaboration among the federal, state, and local governments. The group met with Minister of Budget and Economic Planning, Senator Abubakar Bagudu, in Abuja yesterday to propose an effective collaboration towards achieving

the objectives of the initiative. Welcoming the delegation, led by its National President, Mr. Aliyu Adulraheem, Bagudu emphasised the importance of dialogue between government institutions and organised stakeholders in advancing the country’s development agenda. He said the ministry remained willing to collaborate with professional associations, civil society organisations, and private sector actors to more

effectively carry out its mandate. The minister pointed out that the Renewed Hope Ward Development Programme was a significant effort to overhaul Nigeria’s development framework by promoting stronger cooperation among the federal, state, and local governments, while also involving citizens and development partners in a “whole-of-society” approach to national progress. He explained that the country’s

Delta, NDDC, Chevron Move to Collaborate on Omadino–Okerenkoko–Escravos Road Project Sylvester Idowu in Warri Delta State Government, Niger Delta Development Commission (NDDC), and Chevron Nigeria Limited have moved to strengthen collaboration for the construction of the proposed Omadino–Okerenkoko–escravos road and bridges project in Delta State. The project, which spans about 70 kilometres and 29 bridges, is expected to significantly improve connectivity across riverine communities and stimulate economic development in the Niger Delta. Delta State Governor Sheriff Oborevwori gave the assurance of the state government’s readiness to partner NDDC and Chevron yesterday during a meeting with the leadership of the commission and the oil company’s delegation at Government House, Asaba. Oborevwori commended Managing Director of NDDC, Dr. Sam Ogbuku, for the progress recorded under his leadership and pledged Delta State’s commitment to ensuring the project becomes a reality. The governor stated that the Omadino–Okerenkoko–Escravos road was critical to the development of riverine communities, as it would open up the area for increased economic activities. “We are ready to partner with NDDC on this project because it is very key to those living in the riverine areas. Delta State believes in executing projects that people

will see and appreciate,” he said. Oborevwori stressed that the state government would only support the project if it was awarded to a reputable construction company capable of delivering it to completion without abandoning the work. According to him, the state government would also set up a technical team to work with NDDC and Chevron to review the project design, determine the current cost, and outline the contributions expected from each stakeholder. The governor said the team would also address issues, such as right-of-way, realignment of sections of the road, and other technical considerations necessary for the successful execution of the project. He emphasised that Delta State had consistently demonstrated its willingness to support major infrastructure projects, including those initiated by the federal government, adding that the state is currently undertaking several strategic roads and flyover projects on federal roads across the state. Earlier, Ogbuku, said the commission and Chevron were in Delta State to brief the governor on the progress made in discussions regarding the project. He explained that the project was originally awarded by the commission many years ago but had remained incomplete, prompting the NDDC to explore partnerships as part of efforts to fulfil President Bola Tinubu’s directive that all abandoned

projects in the region be completed. He said the Omadino–Okerenkoko–Escravos road project would deliver enormous benefits to Delta State and the entire Niger Delta by improving access to remote communities and boosting economic activities. “The benefit of this project to the region and to Delta State cannot be overemphasized. It is about 70 kilometres long with 29 bridges, and it will open up the area for socio-economic development,” he said. Ogbuku added that Chevron had already secured approvals from its joint venture partners to participate in the project and that several meetings had been held between the parties to advance discussions. He said technical teams from NDDC, Delta State Government, and Chevron would meet to validate the existing design, review project costs, and carry out environmental and geotechnical studies. According to him, the stakeholders would also conduct community engagements to address right-ofway issues and other concerns that could affect the implementation of the project. Speaking on behalf of Chevron Nigeria Limited, Dr. Segun Kuteyi expressed the company’s readiness to partner with NDDC and Delta State Government to deliver the project. Kuteyi stated that Chevron had operated in Nigeria for more than six

decades and remained committed to supporting infrastructure development in communities within its areas of operation. He said the proposed road would enhance connectivity between Warri and Escravos and provide significant benefits to communities and institutions in the region. According to him, facilities such as the Nigerian Maritime University in Okerenkoko, as well as emerging small and medium-scale enterprises, would benefit immensely from the road project.

constitutional framework assigned development responsibilities to the three tiers of government, but in practice, these roles had not always been well coordinated, often resulting in duplication, inefficiency, and interruptions in development initiatives. Bagudu said, “The Renewed Hope Ward Development Programme aims to address this by concentrating development planning at the ward level, which is the lowest administrative unit in Nigeria’s governance structure.” He stated that Nigeria had 8,809 wards, each with unique economic prospects that could be accessed through targeted interventions. He said, “Our belief is that every ward in Nigeria is an acre of diamonds waiting to be uncovered. Each community has its own strengths and potential, and development strategies must reflect these distinctive qualities.” The minister explained that the programme aimed to enable communities to identify their own development opportunities rather than relying solely on a top-down approach. He stressed that under the initiative, wards will determine their priority economic opportunities, after which the federal government,

state governments, local authorities, and development partners will work together to provide the necessary support. He emphasised the importance of human capital as the main resource of any community, stressing that development planning must start with an understanding of the people and skills present within each locality. In a statement issued by the ministry’s Director, Information and Public Relations, Mrs. Julie Osagie-Jacobs, Bagudu referenced Tinubu’s vision of transforming the country into a $1 trillion economy. He added that decentralised development initiatives, such as the ward development programme, would play a key role in unlocking economic opportunities across the country. The ministry’s Permanent Secretary, Dr. Deborah Odoh, praised CALFAN for its dedication to bolstering Nigeria’s agricultural sector and recognised the vital role of partnerships in fostering inclusive economic growth. Odoh stated that agriculture was a critical pillar of Nigeria’s economic transformation, playing a major role in food security, employment generation, rural development, and economic diversification.

Gov Inuwa Yahaya Hails Tinubu Over Nomination of Lamido Yuguda as CBN Deputy Governor

Segun Awofadeji in Gombe

Governor Muhammadu Inuwa Yahaya of Gombe State has applauded President Bola Ahmed Tinubu for nominating an illustrious son of the state, Lamido Abubakar Yuguda, as Deputy Governor of the Central Bank of Nigeria (CBN). Tinubu, in accordance with Section 8 (1) of the Central Bank of Nigeria Act, 2007, approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the CBN, subject to confirmation by the Senate. Reacting to the development, Governor Inuwa Yahaya said the nomination is a well-deserved one

and a source of pride to the government and entire people of Gombe State, expressing appreciation to Mr. President for finding Yuguda worthy of this important national assignment. Governor Yahaya noted that Yuguda’s nomination reflects the confidence reposed in his competence, integrity and wealth of experience in managing complex financial systems. He described him as a thoroughbred professional, seasoned economist and accomplished financial expert with an impressive track record spanning over three decades in the financial services sector. Governor Yahaya recalled Yuguda’s remarkable tenure as DirectorGeneral of the Securities and Exchange

Commission (SEC), where he was credited with strengthening regulatory oversight, promoting transparency and deepening Nigeria’s capital market. He also noted the former SEC DG’s earlier services at the Central Bank of Nigeria and other key financial institutions, saying his extensive experience further demonstrates his capacity to excel in the new national assignment. On behalf of the government and people of Gombe State, Governor Inuwa Yahaya congratulated the nominee and urged him to continue to uphold the highest standards of professionalism while bringing honour and distinction to the state and the nation.

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Court Permits ICPC to Access, Analyse Devices Recovered from El-Rufai’s House

Alex Enumah in Abuja

Justice Joyce Abdulmalik of a Federal High Court in Abuja, has granted permission to the Independent Corrupt Practices and other related offences Commission (ICPC), to access and analyse data from electronics devises it recently recovered from the Abuja residence of the former governor of Kaduna State. The judge gave the permission yesterday, while delivering ruling in an ex-parte application filed and moved by the commission’s lawyer, Osuobeni Akponimisingha. The anti-corruption agency claimed it needed to access the devices for the purposes of inspection, forensic

examination, and forensic extraction of data in furtherance of its ongoing investigation of the ex-governor. The devices include a Sony HD-EGS storage device, a ITB Transcend storage device, Toshiba storage device, Samsung mobile phone, Nokia mobile phone – N958GB, Blackberry mobile phone device and a Google IDEOS phone. Others are Samsung storage device-SPO802N, Remarkable tablet, Apple MacBook Pro – black, Seagate Freeagent desk external drive, ZTE mobile phone, 10 pieces of flash drives and Microcell memory card. Justice Abdulmalik, in the ruling, ordered the inspection, forensic examination, forensic

extraction of data, i.e., public documents, WhatsApp conversations, text messages, pictures, call logs and related information and analyse same forensically or otherwise from the said electronic devices which were seized in the course of investigation for purpose of investigation activity. While the commission is investigating the former governor on alleged corruption and abuse of office when he was governor of Kaduna State, the Department of State Service (DSS), on the other hand has already charged the former governor for allegedly wiretapping the phone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.

PAGE 12 kindly follow Lagos Launches Religious Pre-Marital the Counselling arrangement Online Course

Sunday Okobi

The Lagos State Government has launched a Religious PreMarital Counselling Online Course aimed at equipping faith leaders and marriage counsellors with the tools and knowledge to prevent domestic violence and promote healthy relationships. Speaking at the launch in Lagos, the Executive Secretary of the Lagos State Domestic and Sexual Violence Agency (DSVA), Mrs. Titilola Vivour-Adeniyi, emphasised the importance of preventing domestic violence. “We are not speaking about statistics alone. We are speaking about families, women who deserve dignity,

men who deserve healthy relationships, and children who deserve to grow up in homes defined by love, not fear,” she said. Vivour-Adeniyi highlighted the critical role of religious institutions in preventing domestic violence, noting that 80 percent of survivors in Lagos solemnised their unions through religious ceremonies. “Faith institutions are uniquely positioned to prevent domestic violence before marriages even begin,” she stated. She cited data from Invictus Africa’s Womanity Index 2024, which showed that 71 per cent of survivors experienced violence within the home, stressing the need for early

intervention. The course, accessible via safeguardingfamily.org. ng, covers 10 modules, including the foundations of marriage, emotional intelligence, safety and protection, and legal literacy. The modules are facilitated by leading experts in family life education, psychology, and marriage administration. These key modules include: “Foundations and Meaning of Marriage; The Science of Connection; and Safety, Protection and Ethics in Marriage,” which equip counsellors to identify early warning signs of abuse and promote dignity, safety, and justice within marriage.

40 Communities Decry Epileptic Power Supply in Osun

Yinka Kolawole in Osogbo

United communities in Osogbo, Osun State, comprising over 40 communities and institutions under its umbrella, yesterday decried the persistent and unacceptable epileptic supply of electricity by the Ibadan Electricity Distribution Company (IBEDC) in the communities. The institutions include the Nigerian Air Force Research Institute facilities, Nigerian Army training depot, Osun State Broadcasting Corporation, Osun State University, and small-scale enterprises. Addressing a matter of urgent public concern affecting thousands of residents and institutions within united communities at a press conference jointly held by Sulaiman Ismail Buruji, the United Communities chairman, Atoyebi Akeem (Coker Chairman), Alhaji Badmus Akeem Gbolagade, and Alhaji Adebayo Akeem Oladepo, they noted that about seven days ago, the United Communities issued a sevenday ultimatum to IBEDC to immediately address the

worsening electricity situation in the communities following the ‘unjust’ downgrade of the areas from Band A to Band C. According to them at the press conference, “Osun State University and other institutions require uninterrupted electricity to sustain their teaching,

research, laboratories, administrative systems, and digital infrastructure. The Nigerian Air Force research institute facilities within our environment also require electricity to conduct scientific and technological research that supports national defence and innovation.

MAPOLY Holds Maiden Matriculation Lecture March 18 Authorities of Moshood Abiola Polytechnic, Abeokuta, have announced Wednesday, March 18, 2026, as the date for the Matriculation and Oath-Taking Ceremony for the 2025- 2026 Academic Session. The event will feature the institution’s maiden matriculation lecture with the theme: “Building a Solid Foundation: The Synergy of Character and Competence” to be presided by the Rector, Dr ‘ Koye Jolaoso. The lecture will be delivered by the Chief Executive of SKP International Services Limited, and past National President of MAPOLY Alumni Association, Ven. Samson Kunle Popoola

at the Otunba Gbenga Daniel (OGD) Auditorium by 10:00a.m prompt. According to the institution spokesperson, Mr Yemi Ajibola “all newly admitted National Diploma (ND) and Higher National Diploma (HND) candidates who have completed their registration for the 2025/2026 Academic Session are required to participate in the programme. Ajibola disclosed that the institution’s website www. mapoly.edu.ng as well as social media platforms i.e Facebook and Youtube via @ mapolyinfo will be available for live streaming/coverage of the event.”

KANO INDEPENDENT RESEARCH CENTRE TRUST (KIRCT)

TENDER FOR SOLAR INVERTER AND BATTERY ENERGY STORAGE SYSTEM AT BSL3 LABORATORY 1. INTRODUCTION The Kano Independent Research Centre Trust (KIRCT) is a biomedical and healthcare research institution establishedfor the beneﬁt of the people of Kano State and Nigeria. The Centre conducts research on communicable and noncommunicable diseases of public health importance across Nigeria and the African continent. KIRCT hereby invites sealed bids from reputable, qualiﬁed, and experienced contractors for the execution of the Solar Inverter System project described below. 2. PROJECT DESCRIPTION Engineering, Procurement, Installation, Testing and Commissioning of a 1446 kWh OEM Pre-Assembled Containerized Battery Energy Storage System (BESS) integrated with a 150 kW Hybrid Inverter/Solar Photovoltaic (PV) System. The procurement process shall follow a Two-Stage Tendering P rocedure consisting of: Technical Bid Financial Bid Only bidders that successfully meet the technical evaluation criteria will have their Financial Bids opened for consideration. 3. SCOPE OF WORK a) 1446 kWh BESS + 150 kW Solar PV Hybrid Inverter System The contractor shall undertake the Engineering, Procurement, Installation, Testing and Commissioning of a complete OEM factory-assembled Hybrid Inverter System from any of the following approved manufacturers: • Deye • Felicity • Bluesun The scope shall include, but not be limited to, the following: 150 kW Hybrid High Voltage 3-Phase, 50 Hz Inverter System with associated charge controllers Solar PV modules including roof or ground mounting structures, accessories, DC cables, cable trays and conduits as required 1446 kWh 40-ft or 20-ft Containerised Battery Energy Storage System (BESS) Battery racks, Battery Management System (BMS), DC and AC combiner cabinets with circuit breakers, surge protection devices, switchgear, protection systems and associated accessories Integration with the existing electrical infrastructure of the facility Required civil, structural and electrical installation works

Testing, commissioning and performance verification of the complete system Training of the Client's technical personnel on system operation and maintenance Provision of six (6) months operation and maintenance services Submission of complete technical manuals, drawings, and warranty documentation Any additional works necessary to deliver a fully operational and functional system 4. TECHNICAL BID REQUIREMENTS 4.1 Company Legal and Statutory Documents Bidders shall provide the following: Certificate of Incorporation Evidence of Tax Compliance for the last three (3) years Relevant operational licences and industry certifications A Sworn Affidavit from a High Court of the Federal Republic of Nigeria stating that: • No Director, shareholder or staff of KIRCT has any interest in the bidding company • None of the company's Directors has been convicted of fraud or financial impropriety • The company is not in receivership, insolvency or bankruptcy 4.2 Corporate Structure and Personnel Organisational structure indicating reporting lines and functional responsibilities Curriculum Vitae (CVs) of key technical personnel showing qualifications and relevant experience 4.3 Relevant Experience and Track Record Bidders must provide evidence of at least three (3) similar projects completed within the last five (5) years, supported by: Award Letters Reference Letters Completion Certificates In addition, bidders must demonstrate verifiable experience in the design and installation of Battery Energy Storage Systems (BESS) and Solar PV inverter systems of comparable capacity. Evidence of OEM authorisation or partnership with Deye, Felicity or Bluesun must also be provided. 4.4 Technical Proposal The Technical Proposal shall include: Detailed methodology and work plan System design layout and technical specifications E q u i p m e n t d a t a s h e e t s fo r m a j o r components including: • PV Modules • Inverters • Battery Energy Storage System (BESS)

• Other critical system components Project timeline and implementation schedule Contract management and site supervision strategy Quality Assurance (QA) Plan Health, Safety and Environment (HSE) Plan 4.5 Financial Capability Audited financial statements for the last three (3) years Bank reference letter indicating the bank's willingness to support project financing 4.6 Health, Safety and Environment (HSE) Company HSE policy Safety management procedures and compliance framework 5. FINANCIAL BID REQUIREMENTS (For technically qualified bidders only) The Financial Bid shall include: Priced Bill of Quantities (BoQ) Warranty terms and after-sales support Proposed payment schedule Validity period of the financial offer Financial bids submitted by bidders who do not meet the technical requirements will not be opened. 6. SUBMISSION GUIDELINES Technical and Financial Bids must be submitted in separate sealed envelopes, clearly marked as follows: “TECHNICAL BID – 1446 kWh BESS + 150 kW Solar PV Hybrid Inverter System” “FINANCIAL BID – 1446 kWh BESS + 150 kW Solar PV Hybrid Inverter System” Both envelopes shall be enclosed in a larger sealed envelopeand marked as “TENDER FOR SOLAR INVERTER AND BATTERY ENERGY STORAGE SYSTEM AT BSL 3 LABORATORY” and addressed to: The Executive Secretary Kano Independent Research Centre Trust ( K I R C T ) KM 1, Dawakin Kudu Road Kano, Nigeria TH Submission Deadline:17 April 2026. Late submissions will not be accepted. 7. OPENING OF BIDS Technical Bids will be opened publicly on: th 17 April 2026. Only bidders that successfully meet the technical evaluation criteria will be notified of the date for the opening of their Financial Bids. 8. ADDITIONAL INFORMATION The Procuring Entity is not bound to accept the lowest bid. Canvassing in any form will result in automatic disqualification. Requests for clarification may be directed to: Email: david.odiwo@kirct.com

KANO INDEPENDENT RESEARCH CENTRE TRUST (KIRCT)

INVITATION FOR PRE-QUALIFICATION

UPGRADING OF MICROBIOLOGY/MOLECULAR LABORATORY INVERTER SYSTEM 1. INTRODUCTION The Kano Independent Research Centre Trust (KIRCT) is a biomedical and healthcare research institution established for the benefit of the people of Kano State and Nigeria. The Centre conducts research on communicable and noncommunicable diseases of public health importance across Nigeria and Africa. In line with its development programme, KIRCT hereby invites reputable, competent, and experienced contractors to submit pre-qualification documents for the upgrading of existing Microbiology/Molecular Laboratory Inverter System. 2. PROJECT TITLE Upgrading of Microbiology/Molecular Laboratory Inverter System from existing 60KVA 300KWH to 120KVA, 600KWH 3. SCOPE OF WORKS • Provision of hybrid solar inverters, solar panels, storage batteries, charge controllers, switchgear, protection systems, and monitoring equipment • Integration with existing solar Inverter infrastructure • Required civil, structural, mechanical or electrical works (Battery Room Services, etc.) • Testing, commissioning, and performance verification • Training of technical personnel • Six (6) months operation & maintenance services • Submission of manuals and warranty documentation 4. ELIGIBILITY REQUIREMENTS Interested contractors must submit the following: a) Company Legal & Statutory Documents · Certificate of Incorporation · Evidence of tax compliance for the last three (3) current years · Relevant operational licenses and industry certifications · Sworn Affidavit from a High Court of the Federal Republic of Nigeria stating that: · No Director, shareholder, or staff of KIRCT has any interest in the bidding company · None of the company's Directors has been convicted of fraud or financial impropriety · The company is not in receivership, insolvency, or bankruptcy

b) · ·

c) ·

Corporate Structure & Personnel Organizational structure showing reporting lines and functional roles Curriculum Vitae (CVs) of key technical personnel, including qualiﬁcations and experience

Relevant Experience & Track Record Evidence of at least three (3) similar projects completed within the last five (5) years, supported by: · Award Letters · Reference Letters · Completion Certificates · Verifiable experience with Battery Energy Storage Systems (BESS) and solar PV inverter systems of comparable scale 5. SUBMISSION GUIDELINES • Documents must be arranged strictly in the order listed above. • All submissions shall be in sealed envelopes clearly marked: “P R E - Q U A L I F I C A T I O N – U P G R A D I N G O F MICROBIOLOGY/MOLECULAR LABORATORY INVERTER SYSTEM”” • Submissions shall be addressed to: The Executive Secretary Kano Independent Research Centre Trust (KIRCT) KM 1 Kano–Dawaki Road Along Kano–Zaria Expressway Kano State, Nigeria 6. DEADLINE FOR SUBMISSION All pre-qualification documents must be submitted not later than 12:00 Noon on 3rd April 2026. 7. OPENING OF SUBMISSIONS Opening of pre-qualification submissions shall take place: Date: 3rd April 2026. Time: 2:00 PM Venue: KIRCT Conference Room 8. IMPORTANT NOTICE • Only shortlisted contractors shall be invited for the tender stage. • KIRCT reserves the right to verify submitted information. • Submission of documents does not constitute a commitment to award any contract. • The Centre shall not be obliged to provide reasons for disqualification. Signed: David E. Odiwo (FCA) Executive Secretary Kano Independent Research Centre Trust

FRIday, MARCH 13, 2026 • T H I S D AY

T H I S D AY • FRIday MaRCH 13, 2026

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sMs OnLY

Will Movement of KRM Group to ADC Alter Political Calculations in Kwara?

Hammed Shittu, in this report, wonders if the recent defection of members of the Kwara Redemption Movement, a group in the all Progressives Congress group in the state, into the african democratic Congress, will change the political calculations in the State of Harmony come 2027.

he political atmosphere in Kwara State ahead of the 2027 election is presently unfolding as a group in the ruling All Progressives Congress (APC) called the Kwara Redemption Movement (KRM) has announced its defection from the party to the opposition African Democratic Congress(ADC). The group, which claimed it has about 50,000 members spread across the 16 local government areas of the state, have resolved to dump the APC for ADC after series of consultations that accompanied wide acceptability of the people of the grassroots. This was in view of the group’s claim that the ruling APC-led government has failed to meet the yearnings and expectations of the people that elected the government into office from 2019 to date. Recall that Kwara Redemption Movement (KRM) was formed almost two years ago when the members reportedly saw the way and manner the ruling government under the leadership of Governor AbdulRahman AbdulRazaq has been leading the state since he assumed office in the state. The movement comprises of coalition of likeminds within the APC who felt betrayed by the day-to-day governance of the state. This coalition of politicians in the state have come together to see to the new paradigm shift in the day-to-day governance of the state and also to return power to the people of the grassroots. In doing this, the movement began with the enlightenment on local radio stations on the need to be part of the new paradigm shift in the political leadership of the state in order to accelerate socio-economic development and good governance that the people deserve across the 16 local government councils of the state. Apart from this, the leadership of the movement appointed local government coordinators that would educate the people of the grassroots and also get more membership into their fold. They claimed that the past years of political leadership had witnessed unprecedented bad governance based on the reported insincerity and selfishness on the policies’ implementation on the part of those that have been in the helms of affairs. The ugly development, according to the movement, has retarded the expected development and growth that can transform the state into well being of the rural populace. Also, the movement perceived that the present leadership has failed to address the much faceted challenges that had dotted various communities and other social needs of the people since assumption of office. The coalition members also claimed that despite huge financial allocations both from the federal and internally generated revenues that had accrued to Kwara, the state has not witnessed the much desired growth, saying this has perpetually manifested in high rate of poverty, insecurity, cultism, armed robbery, among other societal vices. Though, the formation of this movement by the some politicians in the state won’t be the first time such group will crop up in the political history of the state as a movement of this nature was formed in 2019 under the aegis of “O To Ge” movement (Enough is Enough), which swept away the Saraki political dynasty in the political governance of the state. The movement led to the emergence of the incumbent governor of the state, Alhaji AbdulRahman AbdulRazaq during the 2019 general elections under the All Progressives Congress(APC). As if this was not enough, the movement also recorded success with the total victory of all the elected representatives of the APC for both state and National Assembly seats during the election. It would be noted that, the present administration in the state has continued to rise to

the needs of the people since assumption of office and has changed the socio well being of the populace for better. Despite the giant strides of the administration, coalition of politicians has formed another movement to challenge the current atmosphere come 2027 in order to address the perceived neglect in the governance of the state. The new movement, Kwara Redemption Movement, being led by a former chairman of Peoples Democratic Party (PDP) and chieftain

of APC in the state, Hon. Iyiola Oyedepo, has unfolded an agenda that would lead to recruitment of a new set of quality leaders ahead of 2027 polls in the state. Oyedepo was in the fore front and a mastermind of the O To Ge movement in 2019 that worked tirelessly to see to the end of the Saraki dynasty in the governance of the state after 40 years of political control of the state. However, after reviewing the current political situation in the state ahead of the 2027 election,

the movement recently in Ilorin decided to come together again and opted out of the APC for ADC. Members of the group who spoke one after the other jointly agreed to move to the ADC in the state. The motion for their defection was moved by one of their leaders, Hon. Bolaji Edun and seconded by Hon. Ganiyu Onikere. After the adoption of the motion, all of them agreed to quit APC and join the ADC so as to allow them participate fully in the next year’s general elections. Addressing the mammoth crowd of the movement in Ilorin, the chairman of KRM, Oyedepo said the move is a decisive step to reshape governance in the state ahead of the 2027 polls. He described the move as a decisive step towards offering Kwarans what he termed a credible alternative to the current administration. Oyedepo, said KRM has over 20,000 registered members across the state and directed them to immediately register with the ADC to strengthen the party’s grassroots base. “This is a turning point and defining moment in the politics of Kwara State. For years, we have experienced the same situation dressed in different attires”, he said. Positioning the ADC as a credible third force in Kwara politics, Oyedepo maintained that the coalition would focus on issues directly affecting residents, including governance transparency and people-centred alternative. He described the development as “a turning point and defining moment in the politics of Kwara State,” insisting that the era of what he called recycled leadership under different guises must give way to a fresh alternative. Oyedepo explained that KRM was established in February, 2024 with the initial intention of operating within the All Progressives Congress (APC) alleging that, the APC in Kwara had become dominated by a single individual and family interest, leaving no room for internal dissent or corrective mechanisms. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Oyebanji Tasks Ekiti Community Leaders to Shun Violence Governor Biodun Oyebanji of Ekiti state has sued for peace ahead of the June, 2026 gubernatorial election in the state.

kiti State Governor, Mr Biodun Oyebanji has urged community leaders in the state to avoid inflammatory languages capable of undermining the peace of the state as the state prepares for the June 20, 2026 governorship election, stressing the need for calm, responsible conduct by political actors, youths and community leaders. Oyebanji, who gave the charge in his country home, Ikogosi Ekiti during a meeting with the Alara-in-Council led by the Regent of Aramoko Ekiti, Princess Sherifat Adeleye, noted that Ekiti has earned a reputation for orderly electoral conduct and must not allow political differences to divide communities or incite unrest. The Governor urged the community leaders to take active roles in promoting peace and stability within their domains, engage youths positively and discourage any form of violence or provocative behaviour. He said: “Before you go, let me urge you as we are preparing for election, I am not a violent person and I know that no one can receive anything except given by God but there are some that will want to use force to get things. Let us talk to

our people, there is nobody that wants to become a Governor and his desire would be to cause pain, whoever that wants to serve does not bring war to the town but we have a lot of desperate politicians that they know the truth but will just want to cause problems and it’s our children they use. So, when you get home, please talk to our children that they should avoid violence, they should avoid foul languages

and anything that can jeopardize the peace of the state”. Speaking about the state of ItawureAramoko- Ado road, the Governor assured that work would soon begin on the road as all necessary processes and paper work have been completed. Expressing his appreciation to the Alara-in-Council and the entire Aramoko community for their support for his government, the Governor assured them that he remains committed to the development of the community. Earlier in her remarks, Regent of Aramoko Ekiti, Princess Sherifat Adeyemi, appreciated and commended the Governor for his remarkable development strides in Aramoko, highlighting various projects and interventions by the state government which have positively impacted the community. The Regent explained that the purpose of the meeting was to further solicit the Governor ’s support for ongoing and future development projects in the community as well as to assure the Governor that the community is solidly with him and would mobilize maximum support in the forthcoming election.

T H I S D AY • FRIday, March 13, 2026

BUSINESSWORLD R A T E S

MONEY MARKET

A S

REPO

A T

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325, 07034471123

M ar c h

S & P INDEX

1 2 , 2 0 2 6

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,359/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT THUR, March 12, 2026

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

Three Weeks after Lagos Airport Fire, NAMA Yet to Deploy Mobile Control Tower Chinedu Eze Almost three weeks after the Terminal 1 of the Murtala Muhammed Airport, Lagos was gutted by fire, the Nigerian Airspace Management Agency (NAMA) is yet to deploy mobile tower as alternative to the control tower that was badly affected by the fire. The control tower is a critical facility in any airport, where air traffic controllers monitor and determine the movement of every aircraft on runways,

including taxiways. Some aviation experts that spoke to THISDAY, explained that the absence of a control tower in any airport would constitute serious safety breach. After the Terminal 1, known as old international terminal was gutted by fire on February 23, 2026, air traffic controllers relocated to the Federal Airports Authority of Nigeria (FAAN) fire station located at the Runway 18L, known as domestic runway but because of its location, the controllers

cannot see the entire airport. The development calls for an urgent need to deploy the mobile control tower because the current situation where the controllers are operating from the fire station with a small tower could jeopardize flight operations. Informed source volunteered that the controllers at the Fire Station tower cannot see 30 per cent of the entire airport and this is serious infraction to safety standards, noting that foreign airlines with safety procedure may not want to

use the airport if they know that controllers are not seeing the runway in 360 degrees. “As a matter of urgency, they should have deployed the mobile tower immediately after the control tower was put into disuse due to the fire because managing aircraft movement under the current situation is very, very dangerous,” an informed source said. It was learnt that the fire may have handicapped air traffic control because the automatic weather equipment was destroyed

with Automatic Fixed Telecommunication Network (FTN), which the controllers use to relay messages such as flight plan information, arrival and departure-the controllers now resort to using their phones. There is also no coordination between the tower and the approach, when an aircraft is approaching to the airport to land and also weather report is issued manually because the automated weather system is no more working since after the fire.

“But the mobile tower has many of these critical systems if it is deployed. It has a lot of capabilities. it has voice communication and control system with weather report generating system. It has antennae and sensor which picks the weather information in the air from the Nigeria Meteorological Agency (NIMET) system and then feeds this information into the controller’s system,” the source said.. The story continues online on www.thisdaylive.com

L-R: Chief Talent Officer, Union Bank of Nigeria, Omayuli Wale-Ajayi; Head, Corporate Banking, Ali Kadiri; Head, Retail and SME Business, Vivian Imoh-Ita; Founder/Executive Director, Deaf International Foundation, Funmilola Ogunro; MD/CEO, Union Bank of Nigeria, Yetunde Oni; SouthWest Coordinator, Nigeria Association of the Blind, Adenike Olorundare; Women Leader, Lagos Chapter, Nigeria Association of the Blind, Olubukola Salako; Executive Director, Corporate Bank & Business Banking Lagos & West, Union Bank of Nigeria, Taiwo Shote; Chief Brand and Marketing Officer, Olufunmilola Aluko; Regional Executive, Business Banking SouthWest and Lagos, Emmanuel Aihevba and Lead Innovation, Events and Platform Management, Chiamaka Moses during the bank’s commemoration of International Women’s Day 2026 in Lagos… recently.

Maritime: NIMASA Advocates Digital Transformation as Catalyst for Increased Women Participation Eromosele Abiodun The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola has called for digital transformation as a catalyst for increasing the number of women participation in the maritime industry. Mobereola said this

in Lagos at a regional symposium organised by NIMASA in collaboration with the Kofi Annan International Peacekeeping Training Centre (KAIPTC), Ghana on “Digitalisation and the Empowerment of Women in the Maritime Sector of West Africa: Opportunities, Challenges and Pathways.” Mobereola who was

represented by the Agency’s Executive Director, Finance and Administration, Chudi Offodile, noted that digitalisation is capable of significantly correcting the imbalance of women under representation in the maritime industry through the creation of new opportunities and removal of traditional barriers.

According to him, “Digitalisation acts as the great equalizer, shifting the industry’s centre of gravity from physical strength to intellectual agility and technical precision. Through digital platforms and e-learning systems, a young woman in a rural West African town can access the same training modules as anyone in the more

advanced parts of the world”. He noted, “Our maritime sector is undergoing profound transformation driven by digital technologies, automation, data systems and smart logistics. Across the world, digitalization is reshaping how ships operate, how ports function and how maritime administrations

regulate and deliver services.” He reaffirmed the agency’s commitment to inclusive maritime development emphasizing that Nigeria is determined to ensure that the maritime sector becomes a benchmark for genderinclusivity and digital excellence in the region. The story continues online on www.thisdaylive.com

M a r k e t d ata A s at T h u r s d ay, M a r c h 1 2 , 2 0 2 6 BONDS Description Price Yield Change Updated Time (%) ^16.2884 17March 100.19 16.06 0.00 12, 2026 MAR-2027 March ^19.94 20103.71 15.92 0.00 12, 2026 MAR-2027 ^13.98 23March 96.45 16.15 0.01 FEB-2028 12, 2026 ^21.00 20March 108.49 15.95 -0.01 MAR-2028 12, 2026 ^14.55 26March 108.78 15.61 -0.01 12, APR-2029 2026

BILLS Maturity NTB 9-Apr26 NTB 7-May26 NTB 4-Jun26 NTB 9-Jul26 NTB 6-Aug26

Discount Yield

CPs

Change (%) Updated Time

Maturity

16.02

16.28

March 0.00 12, 2026

15.66

16.10

March 0.00 12, 2026

15.66

16.30

March -0.01 12, 2026

15.82

16.74

March -0.01 12, 2026

15.76

16.89

March -0.01 12, 2026

DANC CP XXI 11-MAR-26 NEVE CP II 3-APR-26 JVIL CP XIX 3-APR-26 SKMP CP L 12-JUN-26 DANS CP XVI 14-JUL-26

Discount Yield 19.12

19.19

20.06

20.39

21.27

21.64

21.89

23.29

19.16

20.58

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

March -0.01 12, 2026 March -0.01 12, 2026 March -0.01 12, 2026 March -0.01 12, 2026 March -0.01 12, 2026

Contract Tenor Contract (Month)

Current Rate ($/₦)

Updated Time

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FRIday, March 13, 2026 • T H I S D AY

BUSINESSWORLD

Air watch

Air Peace Expands West African Regional Network A i r Watch

Stories by Chinedu Eze

Nigeria biggest carrier, Air Peace, has announced the commencement of its expanded regional flight operations across West Africa, effective April 1, 2026, as part of its ongoing commitment to strengthening connectivity, facilitating trade, and improving travel options within the sub-region. The new schedules will enhance seamless travel between Lagos, Abidjan, Dakar, Banjul, Accra, Monrovia, and Freetown, offering passengers improved connectivity and

greater flexibility across the airline’s growing West African network. The airline will operate Lagos – Abidjan – Dakar – Banjul; Banjul - Dakar Abidjan – Lagos, operating days slated for Monday/ Wednesday / Friday as follows: Lagos – Abidjan: 07:00-07:50;Abidjan – Dakar: 08:30-11:30; Dakar – Banjul: 12:10 -13:00; Banjul – Dakar: 13:40 -14:30; Dakar – Abidjan: 15:10 -18:1and Abidjan – Lagos: 18:50 - 21:40 On Lagos – Abidjan – Dakar and Dakar - Abidjan – Lagos, the operating days Tuesday, Thursday,

Saturday and Sunday and the schedule is as follows: Lagos – Abidjan: 07:00-07:50; Abidjan – Dakar: 08:3011:30; Dakar – Abidjan: 12:10-15:10 Abidjan – Lagos: 15:50-18:40. Also, on Lagos – Accra – Monrovia; Monrovia - Accra – Lagos; operating Days are Tuesday, Thursday, Saturday, Sunday and the routes are as follows Lagos – Accra: 08:00-08:05; Accra – Monrovia: 08:4510:45; Monrovia – Accra: 11:25-13:25; Accra – Lagos: 14:05-16:10; Lagos – Accra – Freetown; Freetown Accra – Lagos.

As CITA Achieves ISO Certification Milestone

Journalists Fete Nwosu-Igbo on Retirement from FAAN

Journalists covering the aviation industry and the Federal Airports Authority of Nigeria (FAAN) have celebrated the remarkable career of Mrs. Ijeoma Blessing Nwosu-Igbo, who retired recently from the services of FAAN. A seasoned public affairs professional, Nwosu-Igbo, whose more than two

decades of service helped shaped the directorate of public affairs in the agency, joined FAAN in August 2002 as a Senior Public Affairs Officer on Grade Level 10. She however steadily rose through the ranks to become General Manager, Public Affairs, a position in which she provided strategic

leadership in managing the agency’s corporate image and public communication. Over the years, she played a key role in strengthening FAAN’s communication strategy, enhancing public engagement and projecting the activities of the Authority to both local and international audiences.

The International Air Transport Association (IATA) has admitted Nigeria’s rising carrier, United Nigeria Airlines, into its Clearing House (IATA), the global body’s financial system. A statement from the airline said this became effective from February 1, 2026, adding that the airline has joined the prestigious global network of international airlines

utilizing the ICH for secure and efficient financial settlements. The airline explained that this “milestone” enables it to settle interline billings, including passenger and cargo transactions through a secure and centralized global settlement system. The airline said: “The admission reinforces

our commitment to internationally best best practices and operational transparency. While ICH membership facilitates seamless financial settlement between carriers, it serves as the foundation for our broader strategy to establish interline and codeshare partnerships.

United Nigeria Airlines Admitted to IATA’s Financial Clearing House

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Energy Emmanuel Addeh Asst. Editor, Money Market Nume Ekeghe Correspondents KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporter Peter Uzoho (Energy)

NAHCO Hosts Muslim Customers after Fasting The Nigerian Aviation Handling Company Plc (nahco Aviance) has hosted its muslim clients and stakeholders to breaking of fast in Lagos. The event was held as a mark of togetherness and oneness with important client-base of the company that are muslims. Speaking at the event, the Group Executive Director, Commercial & Business Development, NAHCO Plc, Prince Saheed Lasisi, said the annual breaking of fast event the company holds with muslim stakeholders, would

help to identify with the sacrifices made by muslims during the holy month of Ramadan. “The holy month of Ramadan is a very important one for every Muslim faithful. So for us in NAHCO, we always use the opportunity to identify with these important stakeholders while praying that our sacrifices be accepted,” Lasisi said. He used the opportunity to reiterate the company’s commitment to providing the best ground handling service that is second to none on Africa.

Chinedu Eze One of the leading aviation fuel (Jet A1) distribution companies in Nigeria, CITA Energies, achieved a milestone recently when it attained internationally recognised ISO certifications. The International Standard Organisation (ISO) certification is a seal of approval from a third-party body that a company complies with one of the international standards developed by ISO. It verifies that a business maintains high standards for quality, safety, efficiency, and consistency in its processes, products, or services. Standards exist for various areas, including quality management (ISO 9001), environmental management (ISO 14001), information security (ISO 27001), and food safety (ISO 22000). It ensures organisations meet global benchmarks, improve operational efficiency, and build trust with customers. Companies must implement a management system, document procedures, and pass an audit by an independent accredited certification body; but it is not a one-time achievement; certification requires on-going commitment to improvement and periodic audits to ensure continued compliance. It was a historical feat for CITA to have achieved triple ISO certifications at the same period. So, it was all glitz and glamour last week at the NIGAV centre, Murtala Muhammed Airport, Ikeja, Lagos, as the company unveiled the three internationally recognised certifications for ISO 45001: 2018 occupational health and safety management system; ISO 9001: 2015 quality management system and ISO 14001: 2015 environmental management system. CITA Energies, a division of the CITA Group, began operations in Nigeria in 2006. As an aviation fuel specialist, the company has grown to become a major supplier, operating across 15 airfields within Nigeria’s six geopolitical regions. Speaking during the event, Executive

Director/Chief Operating Officer, CITA Energies, Ms. Titilayo Olaore, ascribed the win to staff dedication and hard work adding that ‘the extra work, cross-checking and re-evaluation by staff yielded expected result’. She said the unprecedented acquisition of the coveted certifications is a testament to the company’s dedication to world-class quality management principles. While pledging the commitment of the company to its partners, she said, “To every member of our team who contributed to this process, your dedication has made this milestone possible. Your work has laid the foundation for a stronger and more resilient organization. And to our partners and stakeholders, we remain committed to building an organisation that operates with integrity, reliability, and world-class standards.” According to her, at CITA, discipline and commitment to standards form the core values that guide its daily operations, hence the achievements. “Today is not simply about celebrating a certification, it is about celebrating discipline. Across many organizations, standards are often written into manuals but rarely embedded into culture. Certificates are displayed on walls, yet the systems and accountability required to truly uphold them remain absent. ”For us, this journey demanded more. Achieving ISO certification required a deliberate shift in how we think, how we operate, and how we hold ourselves accountable. It required us to examine our processes, strengthen our governance, and build systems that ensure consistency, transparency, and operational integrity. In an industry where credibility is everything, these standards matter. They signal to our regulators, partners, and stakeholders that our commitment to quality, safety, and environmental responsibility is not aspirational — it is institutional,” she said. The story continues online on www.thisdaylive.com

T H I S D AY • FRIday, March 13, 2026

BUSINESSWORLD

ENERGY

GAMCO: Nigeria Bets on Stranded Power to Revive Electricity Supply

Peter Uzoho posits that Nigeria’s government is turning to an unconventional strategy to address the country’s chronic electricity shortages: squeezing more power out of plants that already exist but barely operate

ecently, President Bola Tinubu constituted an 11-member committee to ensure the hitch-free incorporation of the Grid Asset Management Company Limited (GAMCO). The inauguration of the high-powered committee came after the Federal Executive Council (FEC) at its inaugural meeting in 2026 approved the memo presented by the president for the establishment of GAMCO to address power problems in the country. Chief of Staff to the President, Hon. Femi Gbajabiamila, is the Chairman of the Committee, with the Attorney General of the Federation and Minister of Justice, and the Ministers of Power, Works, and Finance as members. Others include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State (Petroleum), the Chairman of the Nigeria Revenue Service, and energy expert Professor Yemi Oke. The Permanent Secretary of the Cabinet Affairs Office, Dr. John Chidiebere Ezeamama, is the committee’s secretary. In proposing GAMCO, President Tinubu hopes to fast-track a quick-fix solution to the endemic problems of stranded power, grid management and transmission in the country’s electricity sector. Gbajabiamila, who performed the inauguration on behalf of the President, said the committee was critical to the realisation of President Tinubu’s aspirations in Nigeria’s power sector. According to him, “The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr. President and this administration in the all – important power sector. We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector.” He called on members to align with the President’s vision in proposing the formation of GAMCO and to stick to the committee’s mandate. The Chief of Staff said the committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations. Under a proposal by president Tinubu, a new government-owned vehicle called the Grid Asset Management Company Limited aims to revive idle generation capacity and unlock private investment in the transmission network. Officials say the initiative could restore up to 1,600 megawatts of electricity within two years — a potentially significant boost for a grid that struggles to deliver consistent power to Africa’s most populous country. The initiative is designed to address Nigeria’s power sector challenges through optimisation, private capital mobilisation, and disciplined asset management, ultimately improving electricity reliability and national competitiveness, a statement from the presidency said last week. Nigeria has long suffered from a paradox in its power sector, with billions of dollars invested in generation plants that sit underused because of weak gas supply, poor maintenance, or inadequate transmission capacity. Although the country has an installed generation capacity exceeding 13,000MW, average daily output typically hovers far lower, leaving households and businesses heavily reliant on diesel generators. GAMCO, currently under review by an inter-ministerial committee, is designed to tackle that gap by turning stranded public investments into bankable infrastructure projects capable of attracting private finance. The company, according to government sources, will be wholly owned by the federal government, with shares held by the Ministry of Finance Incorporated, but structured as a commercially run entity rather than a traditional government agency. Its mandate is narrow but ambitious: identify underperforming government power assets, rehabilitate them, and package them into

PAGE 19

Tinub u revenue-generating projects that can attract lenders and investors. In its first phase, GAMCO will focus on a critical part of Nigeria’s electricity network: the Benin–Lagos transmission corridor, which supplies power to Lagos and neighbouring Ogun state, the country’s industrial heartland. The pilot programme targets three gas-fired plants built under Nigeria’s National Integrated Power Project: Omotosho, Olorunsogo and Ihovbor. Together they have installed capacity of roughly 1,775MW but currently operate far below potential due to a mix of operational and commercial constraints. By securing reliable gas supply contracts, bringing in experienced operations and maintenance partners, and restructuring power purchase agreements with credible buyers, officials believe the plants’ availability could be raised toward international benchmarks. At 90 per cent availability, planners estimate the plants could generate around 38,400 megawatt-hours per day, equivalent to roughly 38 per cent of Nigeria’s average daily generation in late 2025. The plan also includes building a new high-capacity double-circuit transmission line along the corridor to relieve a major bottleneck in the grid. Nigeria’s transmission network has historically been designed around individual generators, with each plant connected by a single evacuation line to the grid. When those lines fail, entire plants are forced offline. GAMCO proposes replacing that approach with a shared high-voltage “transmission corridor” capable of carrying power from multiple generators, a model used in markets ranging from Texas to India. Officials say the line would be the country’s first privately financed independent power transmission project and could serve as open-access infrastructure for future gas, solar or hydro generators. Crucially, the government insists GAMCO will not replace existing

power institutions but work alongside them. The Niger Delta Power Holding Company will retain ownership of the National Integrated Power Project plants,

while the Transmission Company of Nigeria will remain the statutory operator of the national grid. Instead, GAMCO would act as a project developer and financing platform, working through contractual arrangements with both entities. Its role would include arranging operations contracts, securing fuel supply, negotiating power purchase agreements and raising capital for new transmission infrastructure. The presidency said the approach reflects a pragmatic response to global constraints as well as domestic ones. Building new gas-fired capacity has become significantly more expensive, with turbine costs rising sharply and global manufacturing capacity struggling to keep up with demand. Constructing a new 1,600MW plant could cost more than $3bn and take five to seven years, according to project documents. By contrast, rehabilitating existing plants and upgrading the transmission corridor could deliver a similar amount of power in under three years at a fraction of the cost. Another key feature is the financing model. The government says GAMCO is designed to mobilise domestic and international private capital through project-finance structures tied to specific assets and revenue streams, rather than relying on sovereign borrowing. The story continues online on www.thisdaylive.com

NOTICE OF CHANGE OF NAME Notice is hereby given that

IRON GLOBAL MARKETS LIMITED has changed its name to

IRON CAPITAL MARKETS LIMITED Following the receipt of a No Objection from the Securities and Exchange Commission (SEC) Nigeria. The change of name does not affect the Company’s going concern or legal status, or its rights and obligations. All contracts, agreements, and engagements entered into prior to the change remain valid and enforceable. The Company is in the process of updating its branding and communications to reflect the new name. During this transition period, certain legacy references may remain visible across some touchpoints as updates are progressively completed. IRON CAPITAL MARKETS LIMITED is registered and regulated by the Securities and Exchange Commission, Nigeria

For enquiries, Email: info@iron.africa

T H I S D AY FRIDAY MARCH 13, 2026 20 TR

UT H

& RE A S O

Friday March 13, 2026 Vol 27. No 11298

opinion@thisdaylive.com

www.thisdaylive.com

THE UN, US, ISRAEL AND THE GULF CRISIS JAMES ABATI argues the need for all culpable leaders to be held to account

See page 21

GENDER EQUALITY, JUSTICE, AND CREDIBILITY

FADEKEMI AKINFADERIN lists the task ahead of Nigeria’s ambassador to the UN

See page 21

EDITORIAL

ACCOUNTABILITY AND THE STATES

See page 22

It’s time to turn attention to the revenue and expenditure policies of the government, argues JOSHUA J. OMOJUWA

FISCAL REFORMS: THE NEXT FRONTIER OF TINUBUNOMICS?

Every major reform project reaches a point where it must confront the limits of what policy tweaks can achieve. Nigeria may now be standing at that point. After months of monetary cleanup, exchange rate reforms, and aggressive steps to stabilize the naira, attention must shift to the other half of the economic picture; the fiscal side. That is the next frontier of reform, and perhaps the more complex one. The success (or failure) of these coming years depends more on what happens across Nigeria’s fiscal architecture: how we raise money, how we spend it, and who feels the impact. Taiwo Oyedele said this much during his ministerial screening and he looks set to lead Nigeria on this front. The early wins have been monetary. We have seen foreign reserves rise, exchange rates gradually stabilize, and investor confidence inch back. Those were indispensable achievements, but as several economists have pointed out, you cannot tighten your way to prosperity. Monetary stability, while crucial, is a platform and not the destination. It creates breathing room. What policymakers choose to do with that room will determine whether the average Nigerian sees actual progress or just another round of celebration in government briefings. What does the fiscal side mean here? It begins with revenue. For decades, Nigeria’s public finances have rested on a narrow base. The country’s dependence on oil revenues has turned the federal budget into a function of oil prices rather than productivity. When oil prices are high, the government spends big; when they fall, we panic and borrow even bigger. Tax revenues—the foundation of fiscal stability elsewhere—remain low by every international measure. Analysts often mention the figure: Nigeria’s tax to GDP ratio hovers around ten percent, barely half the African average. That number tells a story of an economy where government has very little reach and citizens, in turn, feel little obligation toward government. The Tinubu administration seems to recognize this. The creation of the Presidential Fiscal Policy and Tax Reforms Committee was not just bureaucratic symbolism; it was a signal. Chaired by Taiwo Oyedele, the same technocrat many consider one of government’s most competent hands, the committee’s task is to reimagine how the Nigerian state raises revenue without crushing productivity. It is not enough to demand

more taxes; people and businesses need to see transparency, simplicity, and fairness. What drives tax compliance is not fear but trust; that the money collected will return to citizens as roads, schools, hospitals, and safety. That is still Nigeria’s biggest fiscal challenge: not just what to tax, but how to earn trust. The second leg of the fiscal story is spending. Even if Nigeria doubled its revenue tomorrow, waste would swallow much of it. Public expenditure is riddled with duplication, inefficiency, and the institutional reluctance to measure results. Recurrent spending continues to take the lion’s share. Real reform will mean a cultural change in government itself. Rationalizing agencies, cutting redundancy, and introducing performance based budgeting must become survival strategies. The clamour for more fiscal discipline is a recognition that efficiency is ultimately a moral question. A wasteful government is not merely poor at math; it is unfair to its people. There are external complications too. As foreign investors weigh Nigeria’s potential, they also study her fiscal direction. A country that can show clarity will attract longer term commitments rather than speculative money chasing short term gains. Fiscal credibility is thus as much about perception as it is about policy. Investors, like citizens, are willing to be patient if they can see seriousness. At the center of all these threads lies the question of federalism. Nigeria’s fiscal imbalance is not only about revenue or spending but about where those happen. The federal government controls most of the money, while the subnationals hold most of the responsibilities directly affecting lives. Education, health, local infrastructure, security, these are state matters funded mainly by federal

transfers. But as allocations rise, citizens have every right to ask: what are states doing with the record inflows from the Federation Account? Fiscal reform will not succeed if it remains a conversation limited to Abuja. It must spread to the thirty six states and the FCT, where fiscal opacity is often worse and accountability weaker. There is also the human side of the fiscal picture. For the ordinary Nigerian, “fiscal policy” can sound distant, like an academic phrase belonging to economists in suits. But its effects are immediate. A fairer tax system determines whether small businesses can survive. More efficient spending determines whether local clinics have drugs and schools have teachers. Debt management determines whether future generations inherit opportunity or burden. Fiscal reform, therefore, is not about numbers on a spreadsheet but about the country’s social contract. The danger now is complacency. Monetary stabilization has created a faint feeling of relief, credit to the Central Bank Governor, Yemi Cardoso here. But it would be a mistake to confuse calm for arrival. The harder and deeper work begins on the fiscal front. That is where transparency meets sacrifice, where reform stops being abstract, becomes palpable. This phase will test not only policymakers’ intellect but their nerve. It is one thing to float a currency or scrap a subsidy; it is another to redesign how an entire government spends and earns. Yet this is precisely the reform frontier that offers the greatest payoff. If Nigeria can modernize its public finances; expand its tax base without stifling growth, spend with discipline, and borrow only with purpose, the rewards will cascade across every sector. Jobs will follow investment; confidence will follow accountability; and maybe, for once, prosperity will not feel like a privilege for a few but a promise to all. Nigeria has taken its first steps on the right path. The hope now is that it finds the courage to keep walking toward a future where the numbers make sense not just on paper, but in people’s lives. Like this page made clear last week, until the Nigerian masses start to count the gains of these reforms for themselves, the job’s not done. Omojuwa is chief strategist, Alpha Reach/BGX Publishing

T H I S D AY

321

FRIDAY MARCH 13, 2026

JAMES ABATI argues the need for all culpable leaders to be held to account

THE UN, US, ISRAEL AND THE GULF CRISIS Many a time in periods of conflict between countries of the world, particularly United Nations (“UN”) member states, wherein properties are destroyed and lives are lost with realities disrupted, one question lingers on the lips of the common citizen: “where is the UN and why is it not intervening?” This brings me to the role, responsibility and function of the UN in the ongoing US, Israel destabilization of the Middle East. To properly dissect the topic, there is a need to delve into history and provide a background of what led to the formation of the UN, its mandate under the UN charter, as well as its role in previous conflicts in order to determine whether it is serving its purpose in conflicts involving states as powerful as the US and Israel. For every student of International Law, the first lesson learnt during the Public International Law and International Humanitarian Law classes is what led to the formation of the UN. The UN was formed by humanitarian concerns arising from the devastating World War II. The crisis and its resultant effects on humanity was so severe that 51 countries of the world took it upon themselves to come together to establish the UN with the aim of maintaining international peace, security, and cooperation after the failure of the previous organization - League of Nations in stopping the war. The founding nations aimed to uphold international law, protect human rights, and promote social and economic progress by preventing a repeat of the World War II situation. Initially, Franklin D. Roosevelt (32nd US President) and Winston Churchill (Former British Prime Minister) outlined their post-war world goals, which culminated in the 1914 Atlantic Charter. As a result of their efforts, the following year, 26 nations pledged to fight the Axis powers and uphold the principles of the Atlantic Charter. This led to the 1942 Declaration of the United Nations. It was not until 1945 during the San Francisco Conference that the UN was officially formed with 50 nations meeting to draft and sign the UN Charter, finalizing the structure of the organization. It is therefore clear that there is a UN globalist agenda of world peace, order and stability. Why then does it seem like the UN has consistently failed in its mandate, particularly when conflicts, wars and acts of aggression involve super powers of the world? To answer this objectively, we will have to delve into some of the most notable UN interventions since its formation and its impact or otherwise on world peace, order and stability. In terms of UN peacekeeping missions, there have been three eras of intervention - the Cold War era, the post Cold War era and the Modern Era. Early missions during the Cold War Era (1948–1980s) were generally observational ("traditional peacekeeping"), designed to monitor ceasefires between states, such as the UN Truce Supervision Organization (UNTSO) in the Middle East (1948)

during the Arab-Israeli conflicts, and the UN Military Observer Group in India and Pakistan (UNMOGIP). The post Cold War era (1990s) witnessed larger, more complex "multidimensional" interventions aimed at managing civil wars (intra-state conflicts) and helping implement peace agreements in countries like Cambodia, El Salvador, Mozambique, Rwanda (UNAMIR), Yugoslav (UNPROFOR) and the administration of Kosovo (UNMIK). In more recent times, the Modern Era (2000s - present), the UN has engaged in high-risk operations, focusing on civilian protection, security sector reform, and supporting political transitions. The most challenging year for the UN was 2024 with conflicts at their highest since 1946 (61 active conflicts). This brief overview highlights the extent of UN peacekeeping missions in global conflicts, which is a crucial tool. However, its application remains strained with criticisms largely because UN Peacekeeping is guided by the key principles of consent of the parties; impartiality; and non-use of force except in self-defense and defence of the mandate. These principles are largely negated and the UN though unrelenting in its peace keeping mandate appears to be more proficient in the humanitarian interventions of its International Committee of the Red Cross and World Food Programme in delivering food and medical aids in already devastated regions, resulting in a curative rather than preventive fulfillment of obligations. This brings us to the ongoing Middle East crisis. The recent US bombings of Iran alongside its ally, Israel is reportedly encouraged by President Donald Trump administration’s January invasion of Venezuela which resulted in the abduction of its President, Nicolas Maduro – without consequence. The fallout of which remains a lingering political and economic crisis rather than a rebuild of the Venezuelan economy as boasted by President Trump. As a result, the military action on Iran should be viewed with skepticism as it is reminiscent of the 2003 – 2011 Iraq war where the US invaded Iraq and ousted its Ba’athist government of Saddam Hussein on the false premise that Iraq possessed weapons of mass destruction and that Saddam Hussein was supporting al-Qaeda. Abati, a lawyer and public commentator, writes from Lagos

FADEKEMI AKINFADERIN lists the task ahead of Nigeria’s ambassador to the UN

GENDER EQUALITY, JUSTICE, AND CREDIBILITY This weekend, the world marked International Women’s Day. In Nigeria, as in many countries, the occasion was accompanied by celebratory messages, social media graphics, and official statements praising the strength and resilience of women. These moments of recognition are important. Yet they also invite a deeper reflection beyond the symbolism, where governments examine to what extent they are truly advancing women’s rights and equality in practice. Globally, progress toward gender equality remains far too slow. According to UN Women, no country has yet achieved full legal equality for women and girls. At the current pace, some projections suggest the world could take nearly three centuries to close the gender gap. Nigeria reflects this broader challenge. The country ranks 124th out of 148 countries in the 2025 edition of the Global Gender Gap Index produced by the World Economic Forum. Women remain underrepresented in politics, maternal health indicators remain troubling, gender-based violence persists, and economic opportunities for women continue to lag behind those of men. At its core, gender equality is a matter of rights and justice. Women and girls are entitled to equal opportunities, autonomy, and protection under the law. But there is also a compelling economic case for advancing gender equality. Evidence consistently shows that countries grow faster and more sustainably when women can participate fully in economic and social life. Research from the World Bank suggests that closing gender gaps in employment, education, and access to services can significantly increase national productivity and economic output. For a country like Nigeria, with its demographic potential and development ambitions, advancing gender equality is therefore not only a moral obligation but also a strategic economic priority. Nigeria has recognized this in its national policies and has made important progress in recent years. The government has adopted multiple frameworks to improve the lives of women and girls, including sexual and reproductive health and family-planning strategies, gender equality policies, and adolescent health initiatives. These policies acknowledge the importance of gender equality as central to national development. Nigeria is also currently considering measures to strengthen women’s political representation, including proposals to establish dedicated seats for women in the National Assembly as a form of affirmative action, an initiative that reflects growing recognition of the need to address structural barriers to women’s participation in governance. However, national commitments must be reflected consistently in international engagement. Each year, governments gather at the United Nations Commission on the Status of Women, the principal global intergovernmental forum dedicated to gender equality. The negotiated outcomes

from this body shape global norms, guide development priorities, and often inform national reforms. What countries support— or oppose—during these negotiations, therefore, carries real weight. This year’s session focused on strengthening access to justice for women and girls, including efforts to remove discriminatory laws and structural barriers. The theme aligns with the global call for “Rights. Justice. Action.” for women and girls everywhere. Nigeria should naturally be a constructive and credible voice in such discussions. Yet during much of the negotiation process, Nigeria’s mission to the United Nations took positions that appeared obstructive, joining and at times leading efforts to weaken or block consensus language. This pattern has surfaced in previous negotiations as well. What makes this dynamic particularly striking is that many of the contested references are not new. They reflect language that Nigeria has previously accepted in earlier global agreements. In effect, positions taken during negotiations have at times appeared to challenge commitments Nigeria had already endorsed. The contradiction is difficult to ignore. At home, Nigeria’s policies acknowledge sexual and reproductive health and gender equality as essential components of development, public health, and social progress. Yet during multilateral negotiations, Nigeria’s representatives have sometimes appeared to question or dilute those same commitments. Thankfully, Nigeria ultimately voted in favor of the final agreed text at this year’s session. That outcome is welcome. But the process that preceded it still raises important questions about policy coherence and coordination. As you prepare to assume your role as Nigeria’s next Permanent Representative to the United Nations, these questions may merit careful reflection. With robust national policies already in place, why do Nigeria’s positions in international negotiations sometimes appear misaligned with its own frameworks? Akinfaderin is a global health and gender policy expert working on international development and global diplomacy. She writes on gender equality, health systems, and global governance under the platform Make It Make Sense with Kemi.

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T H I S D AY

EDITORIAL

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

FRIDAY MARCH 13, 2026

ACCOUNTABILITY AND THE STATES The states must learn to spend within their means

Meanwhile, most of the Houses of assembly s a result of the removal of fuel in the 36 states whose members are tasked with subsidy and the floating of the Naioversight responsibilities are compromised, and ra which ended multiple exchange have over the years failed to hold governors acrates, virtually all the 36 states have countable. And with that, many of the governors in the last two years got a substanare yet to adjust to the prevailing realities as they tial boost in their monthly allocacontinue to indulge in ostentatious lifestyles while tions from the Federation Account. Unfortunately, investing scarce public funds on frivolities. They many of these states still struggle to pick up their still funnel public funds to political activities routine bills. Yet they expend huge sums of money while wedding ceremonies of family members of on frivolities. In most states, there are no signifitop public officers are turned into state carnivals. cant allocations to capital and impactful projects, Ironically, while humongous debts hang precaritriggering concerns over fiscal discipline amid ously on the neck of these states, some of them are calls to reduce the cost of governance. The situastill borrowing more. We believe that the current tion is worsened by the high rate of debt servicing challenge does not call for more by the states in the face borrowing, but rather creative of poor internally genresource management and poerated revenue. While some states are spending fortunes on facilities like tent revenue generation drive. What is most disIndeed, what the situation calls turbing is that innew airports that have little relevance to the people, many for is a serious re-think of the creased statutory allofundamental assumption of our cations from the centre roads infrastructure are crying for attention fiscal arrangements. The states amid borrowing have need to develop cost-effective not translated into betstrategies to increase internal ter living conditions T H I S D AY revenue, cut down on overhead costs, and enfor the people. Everywhere, there is misery at the EDITOR SHAKA MOMODU throne fiscal discipline and transparency. The dedoorstep. The cost of governance, as it has been DEPUTY EDITOR WALE OLALEYE sired economic growth in the states, and indeed in MANAGING DIRECTOR ENIOLA BELLO over the years, is high and alarming. Most of the the country, can only be achieved if the recurrent DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU debts being incurred for future generations of NiCHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI expenditure component is optimised while the gerians are expended on projects that bring little EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN spending component on capital infrastructure is or no returns on investment. While some states are THE OMBUDSMAN KAYODE KOMOLAFE prioritised. spending fortunes on facilities like new airports The indices of poverty across the country make that have little relevance to the people, many roads it difficult for us to understand the recklessness in infrastructure are crying for attention. many states. There is no conscious effort to cut T H I S D AY N E W S PA P E R S L I M I T E D Pipe-borne water is a scarce commodity, and hunEDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA down expenditure on the recurrent side. A state dreds of thousands die every year because of poor GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, that spends more than it generates to sustain pubsanitation and ill-equipped health centres. Many ISRAEL IWEGBU lic officials is surely on a journey to perdition. DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, educational institutions are decrepit, or inadequateANTHONY OGEDENGBE While there is nothing wrong for a country to ly staffed. Perhaps even more depressing, despite DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI face temporary economic setback so long as the the rising costs of food, goods and services, is that SNR. ASSOCIATE DIRECTOR ERIC OJEH managers are capable and indeed able to fix it, ASSOCIATE DIRECTOR PATRICK EIMIUHI some states are not only owing backlog of workers’ what remains tragic is that public officials continCONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI salaries and pensions, but they are yet to implement DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO ue to live in denial while wallowing in profligacy. the National Minimum Wage of N70,000. TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS

IWD: EMPOWERING WOMEN FOR NATION- BUILDING

Some of us troubled about what is happening in the world at present almost forgot the celebration of this year’s International Women’s Day (IWD) on the 8th of March because our attention was on the current war in the Middle-east between the US, Israel and Iran. But, as a woman, I know that the day is too significant to be ignored for it is a day to commemorate women’s struggles for equality and liberation. It is a day that I reflect on the state of womanhood, motherhood, the girl-child, the poor lonely widows and other vulnerable people in the world. It is also a day that I chose to appraise the contribution of the womenfolk to human civilization. The celebration of the International Women’s Day began over a hundred years ago and it has come to stay as a global event. In some countries it is marked with a public holiday. What began in the early 20th Century by the labor and Socialist Movements when the attention then was mainly on getting the universal female suffrage, gained global acceptance when the United Nations endorsed it. First, in

1975 when it declared that year the “International Year for Women and in 1977 when the UN general assembly officially gave approval for it. And ever since it is marked every year all over the world and the focus has always been on the issues, campaigns and themes on women’s right, gender equality, reproductive rights and the eradication of violence, abuse, sexism and discrimination against women. The primary purpose is to draw attention to the position of women in the world and to create a world free from biases, stereotypes, discrimination and exploitation of women. This year’s celebration themed: “Rights, Justice, Action for All Women and Girls,” seems to have a tone of urgency and action embedded in it. Clearly, it is a call to move from rhetoric to action. For over a century there have been talks and campaigns and policies to uplift women but the question has always been: have these policies been implemented effectively? How has the status of women improved over the years given the volume of crusade for women’s right? While it is not right to

say that the campaigns have not yielded fruit all these years, I must say that progress has been negligible because of factors ranging from cultural encumbrances to unpreparedness of the women to accept the challenge of freedom. The UN Gender Report states: “that the very systems meant to protect women and girl child are failing them – leaving them exposed to abuse, injustice, and impunity amid growing backlash against gender equality and increasing violation of their fundamental rights.” And I believe this is the true position. In Nigeria, the position of women is still pitiable with a lot cultural inhibitions, limited access to opportunity, denial of property rights, child marriage, bullying and domestic violence and poor representation in governance and politics. The 2006 National Gender Policy provides for at least 35% women representation in all appointed and elective positions. Hajia Hadiza Mohammed, London, UK. hajiahadizamohammed@gmail.com

FRIday, MARCH 13, 2026 • T H I S D AY

WEDNESDAY, MARCH 13, 11, 2026 • T H I S D AY FRIDAY, MARCH

business/MOnEYGUIDE

Customs Generates N2bn Revenue, Urges Nigerians to Embrace LegitimateTrade Hammed Shittu in Ilorin Nigeria Customs Service(NCS), Kwara Area Command yesterday said that, it has generated a total revenue of N2.52 billion in the past two months in the state. The acting Area Command, Mr. Najeem Ogundeyi made the disclosure in Ilorin, the state capital during the media press briefing on the activities of the Command in the past two months in the state. According to him, “It is barely two months since our last press briefing, during which we highlighted the significant successes recorded through our robust anti-smuggling operations across the Command’s area of responsibility.” He said, “On that

occasion, I made it abundantly clear that smuggling activities would not be tolerated under my watch, and that Kwara Area Command would no longer serve as a safe haven for illegal trade. I also assured the public that the Command would remain resolute and uncompromising in enforcing this stance in line with the mandate of the Nigeria Customs Service. “Regrettably, despite these warnings, some criminal elements have continued to engage in acts of economic sabotage. These individuals, driven by illicit profit, have tested the resolve of the Command through persistent attempts to smuggle prohibited and restricted items into the country. However, I wish to

state unequivocally that such unlawful activities have consistently been met with firm, decisive, and intelligence-driven enforcement actions by our officers.” While the command remains fully committed to enforcing antismuggling laws, Ogundeyi said, “we equally place strong emphasis on initiatives that promote legitimate trade, economic development, and national prosperity”. He noted, “One of such policies is the Federal Government’s ban on the importation of foreign parboiled rice, a strategic measure designed to encourage the consumption of locally produced rice, empower local farmers, create employment opportunities, and strengthen national food security.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- CBN Bills Held by Money Holding Sectors

9,291.49

Money Supply (M2)

119,028,285.58

Linkage Assurance to Commence N12.32bn Rights Issue

Quasi Money

79,681,419.97

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

Ebere Nwoji

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Linkage Assurance Plc, said it has secured approval to commence Rights Issue of 12,320,000,000 ordinary shares of N0.50 each at N1. 32 kobo per share. The company said the offer was being made to existing shareholders on the basis of two new ordinary shares for every three ordinary shares held as at 22 January 2026. The company said the rights issue circular, would be distributed to shareholders by the registrars to the offer,

Apel Capital Registrars Limited, and can also be accessed on the company’s website with minimal contributions to GDP. According to Linkage Assurance management, the offer opens on 11th March 2026 and closes on 23rd April 2026 and the rights being offered are tradable on the floor of NGX for the duration of the Acceptance Period. It also said shareholders may participate in the rights issue by completing the paper participation form. It further informed that

completed participation forms, together with payment or evidence of payment for the full amount payable, should be submitted no later than Thursday, 23 April 2026, to any of the issuing houses or receiving agents listed in the rights circular. The statement further said the issue provided existing shareholders with the opportunity to increase their equity holdings in the company, thereby reinforcing their participation in and support of the company.

HighVolume BusinessesTurn to Platnova for Payment Infrastructure Gaps Platnova is positioning itself as a leading alternative for businesses seeking reliable payment infrastructure engineered specifically for high volume demands. As African companies scale, the payment systems meant to support them often become major obstacles, but Platnova aims to replace fragmented tools with a unified, scalable platform. For businesses processing thousands of daily transactions, even brief downtime can erode customer trust and create significant operational strain. Many traditional providers, built for average usage, struggle to handle peak period volumes, forcing companies to rely on patchwork systems for collections, payouts, and reconciliation. Platnova Business was built to remove these barriers

entirely. At the heart of Platnova’s offering is its NGN Virtual Account system, designed to automate reconciliation at scale. The platform allows businesses to create up to five virtual accounts per customer, enabling them to manage and track high value transactions from thousands to billions of Naira with the same ease as smaller sums. The platform provides businesses with flexible settlement schedules, allowing them to customize settlement timing daily, multiple times a day, or on bespoke timelines to improve liquidity management rather than having funds held by a provider. The API also supports fast, reliable bulk disbursements for use cases like payroll or gaming platforms.

On pricing, standard collections are charged at 1 per cent plus N100, capped at N5,000, with payouts at a flat N107.50 inclusive of VAT. For clients processing over 2,000 transactions daily, a dedicated highvolume tier offers a flat fee of N500 per collection transaction, designed to lower overheads as businesses scale into the billions. According to Benjamin Oyemonlan, Chief Executive Officer of Platnova, the company built its platform in direct response to the frustrations faced by growing businesses. “We saw too many companies struggling with payment systems that simply could not keep up with their growth,” Oyemonlan said.

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27%

OPEC DAILY BASKET PRICE As At 24TH NOVEMBER , 2025

The price of OPEC basket of twelve crudes stood at $63.14 a barrel on Monday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

FRIDAY, MARCH 13, 2026 • T H I S D AY

mARKET NEWS

Demand for BUA Cement, Others Lift Stock Market by N649bn Kayode Tokede The Nigerian stock market yesterday reversed negative direction witnessed in previous two trading sessions with a growth of N649 billion in market capitalisation to N126.399 trillion. The Nigerian Exchange Limited All Share Index

(NGX ASI) gained by 1,010.22 points or 0.52 per cent to close at 196,908.76 basis points. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Transcorp Hotels, BUA Cement, Fidson Healthcare, CAP and Guiness Nigeria. Out of the 132 traded stocks, 30 advanced, 30

P R I C E S MaiN Board

F O R DEALS

declined, while 62 others closed unchanged, indicating a mixed market breadth. FTN Cocoa Processors recorded the highest price gain of 10 per cent to close at N6.27, per share. Fidson Healthcare followed with a gain of 9.97 per cent to close at N105.35, while DEAP Capital Management & Trust up by 9.89 per cent to close at N7.00, per share.

S E C U R I T I E S Market Price

quantity traded

Caverton Offshore Support Group rose by 9.40 per cent to close at N6.40, while Livestock Feeds appreciated by 9.30 per cent to close at N7.05, per share. On the other hand, Eterna and Omatek Ventures led the losers’ chart by 10 per cent each to close at N42.30 and N2.52 respectively, while SCOA Nigeria

T R A D E D

value traded ( N )

MaiN Board

A S

followed with a decline of 9.94 per cent to close at N22.65, per share. Fortis Global Insurance depreciated by 9.24 per cent to close at N1.08, while Sovereign Trust Insurance declined by 9.09 per cent to close at N2.10, per share. Meanwhile, the total volume traded declined by 25.84 per cent to 549.781 million units, valued

O F

M A R C H DEALS

at N44.736 billion, and exchanged in 55,465 deals. Transactions in the shares of Fortis Global Insurance topped the activity chart with 32.182 million shares valued at N34.775 million. Access Holdings followed with 28.124 million shares worth N700.986 million, while First Holdco traded 27.722 million shares valued at N1.385 billion.

1 1 / 2 6 Market Price

quantity traded

value traded ( N)

T H I S D AY • FRIDAY, MARCH 13, 2026

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 9th March 2026, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 784.74 789.90 26.79% Afrinvest Plutus Fund 398.05 398.05 13.12% Nigeria International Debt Fund 100.00 100.00 15.30% Afrinvest Dollar Fund 115.67 115.67 0.86% ALPHA MORGAN CAPITAL MANAGERS LTD mutualfund@alphamorgan.com Web: www.alphamorgan.com, Tel: +2347018898523 Fund Name Bid Price Offer Price Yield / T-Rtn ALPHA MORGAN BALANCED FUND 0.00 0.00 0.00 AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 0.00 0.00 0.00 AIICO Balanced Fund 0.00 0.00 0.00 AIICO Eurobond Fund 0.00 0.00 0.00 Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 16.62% Anchoria Equity Fund 1.77 1.77 8.47% Anchoria Fixed Income Fund 529.58 536.12 29.27% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 1.00 1.00 17.62% ARM Discovery Balanced Fund 0.00 0.00 0.00% ARM Ethical Fund 1.22 1.22 14.20% ARM Eurobond Fund 1.36 1.36 33.78% ARM Fixed Income Fund 1.22 1.22 31.90% ARM Short Term Bond Fund 1.16 1.16 13.67% ARM Shariah Fixed Income Fund 1.05 1.05 4.88% ARM Short Term Eurobond Fund 66.39 68.39 25.35% ARM Specialized Dollar Fund 1,224.53 1,261.45 16.06% ARM Money Market Fund 132.10 136.09 26.86% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 123.04 123.04 5.63% AVA GAM Fixed Income Dollar Fund 1,320.42 1320.42 25.17% AVA GAM Fixed Income (Naira) Fund 1.00 1.00 16.50% AVA GAM Money Market Fund AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00 AXA Mansard Equity Income Fund 0.00 0.00 0.00 AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00 CEAT Fixed Income Fund 0.00 0.00 0.00 Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.15 1.15 6.11% CardinalStone Fixed Income Alpha Fund 1.26 1.26 0.64% CardinalStone Dollar Fund 2.42 2.45 30.75% CardinalStone Equity Fund 1.55 1.56 24.36% CardinalStone Balanced Fund 1.00 1.00 17.98% CardinalStone Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Money Market Fund 0.00 0.00 0.00 Nigeria Bond Fund 0.00 0.00 0.00 Nigeria Dollar Income Fund 0.00 0.00 0.00 0.00 0.00 0.00 Paramount Equity Fund CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 16.53% 114.55 114.55 12.07% Cordros Fixed Income Fund 125.72 125.72 13.84% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 120.22 120.22 6.05% Cordros Milestone Fund 275.41 277.60 19.28% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 16.53% Coronation Balanced Fund 2.42 2.47 14.22% Coronation Fixed Income Fund 1.55 1.55 3.80% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund 0.00 0.00 0.00 EDC Nigeria Balanced Fund 0.00 0.00 0.00 EDC Nigeria Halal Fund 0.00 0.00 0.00 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 0.00 0.00 0.00 Emerging Africa Bond Fund 0.00 0.00 0.00 Emerging Africa Balanced Diversity Fund 0.00 0.00 0.00 Emerging Africa Eurobond Fund 0.00 0.00 0.00 Emerging Africa Halal Fund 0.00 0.00 0.00 FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn First Asset Money Market Fund 100 100 16.35% First Asset Bond Fund 1689.11 1689.11 7.59% First Asset Dollar Fund 129.67 129.71 7.70% First Asset Halal Fund 145.91 145.91 14.44% First Asset Specialised Dollar Fund 126.43 126.48 7.77% First Asset Balanced Fund 534.79 540.33 24.86% First Asset Smart Beta Equity Fund 571.21 579.61 26.01% First Asset Blended Dollar Fund 111.5 111.5 -0.26% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund (LMMF) 1.00 1.00 16.33% Legacy Debt Fund (LDF) 1.48 1.49 -0.50% Legacy Equity Fund (LEF) 3.77 3.79 3.56% Legacy USD Bond Fund (LUBF) 7.43 7.60 34.51% FCMB-TLG Private Debt Fund 0.00 0.00 0.00% FSL ASSET MANAGEMENT LIMITED Adeniran.Daniel@fsl.ng Web: https://www.fsl.ng/asset-management ; Tel: +2348062727759 Fund Name Bid Price Offer Price Yield / T-Rtn FSL Money Market Fund 0.00 0.00 0.00 FSL Euro Bond 0.00 0.00 0.00 FIRST ALLY ASSET MANAGEMENT LIMITED blossom.omojughare@first-ally.com Web: https://first-allyasset.com/ ; Tel: +2348023217850 Fund Name Bid Price Offer Price Yield / T-Rtn FAAM Money Market Fund 1.00 1.00 17.95% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral income fund 4,886.80 4,886.80 15.15%

Coral money market fund 100.00 100.00 16.42% FSDH HALAL FUND 1,353.71 1,353.71 11.69% FSDH dollar fund 1.36 1.36 7.30% Coral Balanced Fund 13,505.03 13,607.32 112.31% HILLCREST CAPITAL MANAGEMENT dabbey@hillcrestcapmgt.com Web: https://hillcrestcapmgt.com/; Tel: +2348075144540, 0214540094 Fund Name Bid Price Offer Price Yield / T-Rtn Hillcrest Balanced Fund 0.00 0.00 0.00 LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS HALAL FIXED INCOME FUND 1,296.08 1,296.08 2.82% LOTUS HALAL INVESTMENT FUND 3.68 3.75 24.76% LOTUS HALAL EQUITY EXCHANGE TRADED FUND 84.55 93.45 44.19% LOTUS WAQF ENDOWMENT FUND 1,502.61 1,502.61 20.40% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 0.00 0.00 0.00 Meristem Value ETF 0.00 0.00 0.00 Meristem Growth ETF 0.00 0.00 0.00 Meristem Fixed Income Fund 0.00 0.00 0.00 Meristem Dollar Income Fund 0.00 0.00 0.00 Meristem Money Market Mutual Fund 0.00 0.00 0.00 MANGO ASSET MANAGEMENT jetadafe@mangoam.com Web:https://mangoam.com/; Tel: +234 7030839517 Fund Name Bid Price Offer Price Yield / T-Rtn Mango Naira Money Market Fund 1.00 1.00 16.97% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED

enquiries@norrenberger.com

Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 100.00 100.00 17.58% Norrenberger Islamic Fund (NIF) 107.16 107.16 17.28% NORRENBERGER DOLLAR FUND (NDF)-----($) 105.08 105.08 5.45% NORRENBERGER TURBO FUND (NTF)-----(N) 104.42 104.42 17.99% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 10.00 10.00 16.06 PACAM Fixed Income Fund 12.68 13.32 -7.04% PACAM Money Market Fund 4.19 4.25 18.77% PACAM Equity Fund 2.54 2.62 29.67% PACAM EuroBond Fund 167.52 174.18 0.76% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn The Frontier Fund 288.55 303.02 74.4% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 0.00 0.00 0.00 SFS REIT 0.00 0.00 0.00 UH REIT/SFS 0.00 0.00 0.00 STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund Stanbic IBTC Bond Fund Stanbic IBTC Dollar Fund (USD) Stanbic IBTC Shariah Fixed Income Fund Stanbic IBTC Enhanced Short-Term Fixed Income Fund Stanbic IBTC Absolute Fund UPDC REIT Stanbic IBTC Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical Fund Stanbic IBTC Guaranteed Investment Fund Stanbic IBTC Imaan Fund Stanbic IBTC Nigerian Equity Fund SIAML Pension ETF 40 Stanbic IBTC Aggressive Fund Stanbic IBTC Conservative Fund

STL ASSET MANAGEMENT LIMITED Web: WWW.STLASSETMGT.COM; Tel: 8136115170 Fund Name STL MONEY MARKET FUND STL BALANCED FUND STL DOLLAR FUND

UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name United Capital Money Market Fund United Capital Sukuk Fund United Capital Fixed Income Fund United Capital Nigerian Eurobond Fund United Capital Global Fixed Income Fund United Capital Stable Income Fund United Capital Equity Fund United Capital Balanced Fund United Capital Wealth for Women Fund United Capital Children Investment Fund VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund Vetiva USD Fixed Income Fund QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Zenith Balanced Strategy Fund Zenith Income Fund Zenith Income Fund Zenith Money Market Fund ZEDCREST INVESTMENT MANAGER LIMITED Web: www.zedcrestwealth.com; Tel: +2348075881240 Fund Name Zedcrest Money Market Fund Zedcrest Fixed Inocme Fund Zedcrest Dollar Fund Zedcrest Equity Fund REITS Fund Name SFS REIT UPDC REIT

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 jemenike@stlassetmgt.com

Bid Price 0.00 0.00 0.00

Offer Price Yield / T-Rtn 0.00 0.00 0.00 0.00 0.00 0.00 unitedcapitalplcgroup.com

Bid Price 1.00 1.25 2.01 126.12 1.26 132.54 2.48 2.77 2.20 1.38

Offer Price Yield / T-Rtn 1.00 15.68% 1.25 6.99% 2.01 8.19% 126.12 5.81% 1.26 5.34% 132.54 14.80% 2.51 29.11% 2.79 24.67% 2.22 23.35% 1.38 23.60% funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn 18.73 18.83 76.67% 43.87 43.97 41.03% 70.78 70.98 44.42% 1.00 1.00 16.56% 75.89 76.09 89.25% 145.69 147.69 108.36% 1.00 1.00 16.56% service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 43.04 43.63 27.01% 50.12 50.65 25.49% 30.94 30.94 2.04% 1.00 1.00 16.64% investmentoperations@zedcrest.com Bid Price N1.00 N1.45 1.51 1.55

Offer Price N1.00 N1.45 1.51 1.57

NAV Per Share

Yield / T-Rtn 16.06% 31.93% 7.31% 52.30% Yield / T-Rtn

0.00

0.00%

10,418.31

10.54%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

This

Weekend

FRIday, MARCH 13, 2026 • T H I S D AY

Group Features Editor: Chiemelie Ezeobi chiemelie.ezeobi@thisdaylive.com

07010510430

Weekly Magazine UTH

& R E ASO

Purpose, Enterprise and Philanthropy: The Inspiring Story of Yeye Folashade Shona Aluko

FRIday, MARCH 13, 2026 • T H I S D AY

COVeR

Purpose, Enterprise and Philanthropy: The Inspiring Story of Yeye Folashade Shona Aluko Yeye Folashade Shona Aluko is an accomplished educationist, entrepreneur, philanthropist and cultural advocate whose journey spans teaching, business leadership and community service. She began her career as a teacher before transitioning into entrepreneurship, where she founded DLA Children Playground Equipment and Toys Limited, supplying educational aids, toys and playground equipment to schools across Nigeria. A serial entrepreneur, her business interests also extends to food industry through the AVO brand, reflecting her versatility in enterprise. Beyond business, Chiemelie Ezeobi writes that she is deeply committed to philanthropy, women empowerment, youth mentorship and support for children with special needs, using her platforms to uplift communities and create opportunities for others

n a country where entrepreneurship often begins with necessity rather than ambition, the story of Dr. Yeye Folashade Shona Aluko stands out as a compelling example of resilience, determination and faith. An educationist, entrepreneur, philanthropist and business leader, she has spent more than three decades building a business empire that began with selling educational toys to parents and has since expanded into the nationwide supply of playground equipment and educational materials. Today, she is the Chairman and Chief Executive Officer of DLA Children Playground Equipment and Toys Limited, a company that collaborates with government agencies and schools across Nigeria to provide safe, stimulating learning tools for children. Beyond business, she has emerged as a respected voice in women’s empowerment and community development. Early Life and Educational Foundations Her journey, however, did not begin in the boardroom. Born more than five decades ago in Kaduna, northern Nigeria, her formative years were shaped by discipline and determination. She attended Queen Elizabeth School in Ilorin, Kwara State, before proceeding to the Federal College of Education, Kabuga, Kano State. Her pursuit of education was not without obstacles. At a time when many families did not prioritise education for girls, she had to push against expectations to pursue her academic ambitions. Determined to succeed, she later earned a degree in Education Management from Ogun State University, now Olabisi Onabanjo University. Her career began in the classroom as a teacher, where she developed a reputation for discipline and commitment to her students. “I started as a teacher by profession,” she recalled. “I was teaching in primary and nursery schools while raising my first child.” A Business Born From Necessity Those early years as a teacher would later pay off and lead her on the trajectory of success. Like many entrepreneurs, Dr. Shona Aluko’s entry into business came from necessity rather than a carefully laid plan. While teaching, she realised that her salary was insufficient to support her family. With a young daughter to care for, she began searching for ways to supplement her income. “I used my salary to pay my daughter’s school fees,” she says. “But it was still not enough to take care of things at home.” Her solution was simple but effective: she began selling educational toys and learning materials to parents. Because she was already a teacher, parents trusted her recommendations. “I would go to the market and buy educational toys—ABC materials and learning tools and sell them to parents like me”. The idea quickly gained traction and what began as a side hustle gradually evolved into a small business. A Defining Crisis As her toy business expanded, she opened a shop in Kano and one day, a visitor arrived with what appeared to be a major breakthrough claiming that Jigawa State Government had awarded his group a contract to supply educational toys and asked whether she could provide the materials. Excited by the opportunity, she secured a bank loan and travelled to Dubai to purchase large quantities of educational items. But the dream quickly turned into a nightmare. “The man later returned and said the contract

“We women can do better if we are given opportunities,” she said. Faith and Philosophy Faith plays a central role in her outlook on life and business. “It is not easy to get to a higher place in life, but a man with God is a majority”, she opined. For her, success is built on faithfulness, diligence and humility. “When you keep working faithfully, recognition will eventually come”.

Yeye Folashade Shona Aluko was no longer theirs. He told me to sell the goods and repay the money”. The loan, about four million naira, a huge amount at the time, became a crushing burden. “The shock was overwhelming that I drove myself to the hospital and they admitted me.” Yet the crisis became a turning point. Determined to repay the loan, she travelled from Kano to Kaduna, Lagos and other cities, selling the toys one by one. That relentless effort transformed her small venture into a full-fledged business. “Before I knew it, I had become a dealer in playground equipment and toys”. Building a National Brand Over time, Dr. Shona Aluko expanded her product range to include school supplies and playground installations. Her background in education proved invaluable. “Because I had worked in education, everything about schools was already in my head”. She began visiting schools, supermarkets and institutions across different states, introducing her products. Her breakthrough came when she presented playground equipment to the Universal Basic Education Commission (UBEC) in Abuja. The concept was approved and from that moment, the business expanded rapidly and “for the past 15 years, we have been supplying playground equipment across all 37 states in Nigeria”. Through DLA Children Playground Equipment and Toys Limited, she has partnered UBEC and State Universal Basic Education Boards to supply schools nationwide with safe and engaging learning equipment. Expanding Into New Ventures Beyond educational supplies, Dr. Shona Aluko has diversified her business interests. Her portfolio includes ventures in amusement parks and food manufacturing, as well as the AVO brand. “My husband, Engr. Aluko, who she is most grateful for, suggested something that could generate daily income, not just contracts that come occasionally,”

she explains. That advice led to the creation of the AVO brand, expanding her entrepreneurial footprint. Despite these new ventures, her core business remains the supply of educational tools and playground equipment. Turning Pain Into Philanthropy Dr. Shona Aluko’s philanthropic work is deeply rooted in her personal experiences. With a special needs son, she opened her eyes to the challenges faced by children with disabilities. “When I took him to school, I realised they didn’t have enough teachers, so I went about to change that and they employed more. I always say we cannot put everything on government. We must also contribute our own quota” she recalled. This discovery inspired her to support schools for hearing-impaired children by helping provide additional teachers. The Ikeja Junior and Senior Secondary School are some of the beneficiaries of these largesse as she even pays the salaries of the special needs teachers. Her charity work also focuses on women empowerment and youth mentorship. She supports vocational training programmes that teach skills such as hairdressing, tailoring and baking, helping women become financially independent. “I hate seeing women sitting idle. A responsible woman should be able to stand on her own feet,” she said to explain all she does for the feminine gender, just as her advocacy for women’s economic independence continues through training programmes across several states. Standing Firm as a Female Entrepreneur Like many women in business, Dr. Shona Aluko encountered gender-based challenges. “Sometimes when you go for contracts, people say you must sleep with them before they give you the contract,” she said bluntly, adding that some others simply refused to deal with her because she was a woman. Despite these obstacles, she persevered.

Recognition and Honours Over the years, Dr. Shona Aluko’s contributions to education, entrepreneurship and humanitarian service have earned her numerous awards and recognitions. Among them are the 2023 Sterling Award from the Crime Reporters Association of Nigeria; Lagos State Ministry of Education Award (2021) for contributions to special education; Ikeja High School Leadership Award (2023) for dedication to teachers and students; and Oodua Special Recognition Award (2024). Others include the Philanthropist of the Year Award from the Nigerian Union of Journalists, Ibadan Chapel; Golden Star Award for Empowerment and Community Development from Security Watch Africa in Doha, Qatar; and Award of Excellence on Human Development and Social Services from the Nigerian Institution of Estate Surveyors and Valuers She has also been honoured with Honorary Doctorate Degrees from European American University and Kingdom Life University, Florida, USA. In 2025, the Ooni of Ife conferred on her the traditional title of Yeye Bobajiro Oodua, recognising her contributions to society. A Fellow of the Institute of Purchasing and Marketing Consultant, she also serves as National Matron of the Association of Female Artisans, Nigeria, an honour they bestowed on her for the numerous empowerment and access she has given them. Her growing international recognition continues with an invitation as Special Guest of Honour to the Pan-Afrikan Drum Festival in Canada in July 2026 and in June 2026, she is also billed to receive the Silent Hero in Philanthropy Award. Quest to Do More Despite decades of achievement, Dr. Shona Aluko believes her journey is far from complete. “Even after three decades in business, I still feel I have not achieved enough,” she said, adding that her next ambition is to move into local manufacturing of educational equipment, reducing Nigeria’s dependence on imported materials despite challenges such as electricity and access to financing for many entrepreneurs. Charge to Women For women hoping to follow a similar path, her message is simple but firm. “Be hardworking, focused and confident. Do not look down on yourself”, she said, adding that she believes women often have to work twice as hard as men to succeed, “But we must keep working and remain determined”. Looking back on her journey from classroom teacher to nationally recognised entrepreneur, she reflects on the unexpected nature of success by succinctly stating that “I did not run after the throne, the throne found me through hardwork”. And in her words lies the philosophy that has guided her life: “When you keep working faithfully, recognition will eventually come.”

FRIday, MARCH 13, 2026 • T H I S D AY

Cover

How Winnie Defied Intimidation, Assault to Rewrite History in Odiokwu Community Odiokwu community in Ahoada West, Rivers State, will not quickly forget the developmental impact of their daughter, Miss Winnie Miller, despite intimidation and assaults from politicians and others who sought to silence her.The Odiokwu case has revealed that many other communities in the state are suffering similar neglect in education and health facilities. Blessing Ibunge reports

any rural communities cry out over the dilapidation of government facilities, as basic amenities that could have been provided at minimal cost are often ignored and instead used for political campaigns. Residents have expressed concern over derelict public schools and health facilities across Rivers State, sometimes even in Port Harcourt, the state capital. Such decay exposes the government’s lack of presence or, at worst, deliberate neglect. Pupils and students are forced to learn in classrooms without chairs or desks, risking safety and comfort. Students Pray for Change For years, students of Community Secondary School, Odiokwu, prayed for a better learning environment. Studying under a structure that could collapse at any time made learning uncomfortable and unsafe. Students feared that the roof might fall during lessons, reptiles had reportedly occupied parts of the classrooms, and pupils spent excessive money on detergents to keep uniforms clean. “Who will save us from this embarrassing situation?” they wondered. Then came an alumna and village daughter, Miss Winnie Miller, who shared their experiences and believed in change. Taking the bull by the horn, she decided to rescue her community from continuous embarrassment and fight for a standard educational facility, undeterred by possible consequences if her efforts failed. The Incident That Sparked Action The turning point began on March 1, 2026. Winnie told journalists in Port Harcourt that after posting about the dilapidated school, the Chairman of Ahoada West LGA, Mr. Eugene Epelle, visited her family home with his younger brother, Monday Epelle, and others, allegedly to assault her. She claimed the chairman supervised the beating, leaving her with facial injuries. Community members tried to intervene, but the chairman continued, highlighting the power dynamics in the area. Winnie, who had previously worked for the chairman, accused him of ignoring repeated complaints about the school’s condition. Odiokwu is also home to other prominent men and women who could have advocated for better facilities. Winnie Seeks Intervention from Civil Society On March 2, 2026, 26-year-old Winnie sought protection from a coalition of civil society organisations, including Relief International Africa, Social Development Integrated Center, and Voices for Change, after she and her mother were allegedly assaulted on the chairman’s orders. Winnie explained that, as a farmer and community volunteer, she regularly visited Community Secondary School, Odiokwu, and

Winnie Miller after the alleged assault by supporters of the Ahoada West Local Government Council in Rivers

was distressed by its unsafe conditions. She engaged the school principal for possible support and recorded a video highlighting the situation, which she posted on Facebook. The post attracted sympathy and pledges from concerned indigenes in the diaspora. Her goal was renovation, not confrontation. Yet on March 1, the Council Chairman allegedly came to her house to demand she take down her post. After the assault, she sought medical attention at the Nigeria Police Clinic in Port Harcourt and reported the incident to the International Federation of Women Lawyers (FIDA) before approaching civil society groups. A follow-up meeting to discuss resolution could not take place, as the chairman refused to sign an undertaking guaranteeing her safety. “I was not comfortable with the direction the discussion was taking. I told them the police should be involved in the process,” she said. Interventions and Victory at Last The incident drew widespread attention and calls for justice, including the arrest of the chairman and others involved. While the State Government has not yet commented on the school’s renovation, there is hope that Winnie’s advocacy has brought change, with promises for building repairs.

Ahoada West Local Council Chairman, Mr. Eugene Epelle

Although Chairman Eugene Epelle has denied assaulting Winnie, critics argue his handling of the situation was uncivil. In a media interview, he explained: “I never led thugs to her house. It was me, my youngest brother, the leader of my council, and my driver. We were driving to my house. Fortunately, I saw her mother in front of their house; she waved and I stopped. From childhood, we have been close friends. When she waved, I stopped; she told me she had an accident, and I said she should have called me, and I would have assisted. “While we were going to the house with her, I said, ‘Chimela, please tell your daughter who is my aide to step down the post, so it would not look like it is my aide that is against the Rivers State Government.’ While talking with the mother, Winnie came out shouting. When my younger brother confronted her, she raised her voice, which resulted in him pushing her and biting her lip.” A reconciliation meeting convened by a civil society group saw the chairman allegedly transfer N2.5 million to Winnie’s account for medical expenses, which she later posted on social media, claiming it was an attempt to bribe her into silence. Prominent community indigenes, including Victor Obuzor, the Member representing Ahoada-West/Ogba-Egbema-Ndoni Federal Constituency, pledged support. Former Acting

Managing Director of NDDC, Mrs. Ibim Semenitari, criticised both the assault and poor school conditions: “Democracy thrives on debate, differing opinions, and freedom of expression. The idea that one cannot speak up for fear of offending some demigod in government is scary. This is not the Nigeria we are building.” Has Winnie Achieved Her Purpose? Winnie recently refunded the N2.5 million to the council chairman. Media activist Martins Vincent Otse, aka VeryDarkMan, arrived in Odiokwu with a bulldozer to demolish and rebuild the school with a library, laboratory, and health centre. However, the plan was paused following intervention from the House of Representatives member, who promised to renovate the school. VeryDarkMan insisted that a rebuild was necessary for student safety, saying: “We want our kids to learn in a conducive environment. Renovating the old building is not enough as it could collapse.” Currently, approval for renovation exists, but work is set to begin during school vacation. Meanwhile, philanthropist and CEO of Portland Resort, Mr. Azubuike Ihemeje, has offered Winnie a well-paid job and automatic scholarships for Master’s and PhD programs if she wishes.

SHE Safety, Health Initiative Bags Wema Bank EMPOWERHER Award

Esther Oluku

Non-profit organisation, SHE Safety and Health Initiative, has bagged the Wema Bank SHE EMPOWERHER Award in recognition of its efforts in promoting the safety, health, and empowerment of women and girls in

Nigeria. The award was presented during the Wema Bank International Women’s Day celebration held on Wednesday, where the organisation also received a seed grant of two million naira to support and expand its initiatives aimed at improving the wellbeing of women and girls.

Founder, SHE Safety and Health Initiative, Mabel Abel-Onaiwu, while receiving the award, described the recognition as an encouragement to continue the organisation’s mission of equipping women and girls with essential health and safety knowledge. She noted that over

the years, SHE Safety and Health Initiative has remained committed to empowering women and girls through safety education, emergency preparedness training, health advocacy, and community-based interventions designed to help women live healthier and safer lives. “This recognition is deeply

appreciated. It shows that the work we have been doing to promote the health, safety, and wellbeing of women and girls is being seen and valued,” she said. She added that the organisation remains committed to expanding its reach and impact while also welcoming strategic partnerships

with institutions and organisations that share the vision of building safer and healthier communities for women and girls. She also expressed gratitude to Wema Bank for the recognition and support, noting that the grant will help extend its outreach and deepen its impact in communities across Nigeria.

TRIBUTE

FRIDAY, MARCH 13, 2026 • THISDAY

Karl Toriola @ 54: The Silent Conductor of the ‘Yello Orchestra’ Ayoola Ajanaku

n the high-decibel world of telecommunications, where subscriber numbers are trumpeted like championship scores and executives often double as brand ambassadors, Karl Toriola cuts a different figure. Measured and methodical with an almost understated facade, yet beneath that calm exterior lies one of the most consequential corporate conductors in Nigeria’s digital evolution. In a few days on 17 March, 2026, he will clock 54 years on Mother Earth. Toriola is not simply running a telecom company. As CEO of MTN Nigeria, the largest subsidiary of the MTN Group, he is orchestrating a vast ecosystem that underpins commerce, banking, entertainment, governance, and everyday human connection across Africa’s most populous nation. To grasp his leadership skillset is to understand the quiet discipline behind the “Yello” empire that straddles across the landscape like a colossus. Karl Toriola’s career trajectory is not one of sudden ascension. It is a carefully assembled architecture much like the networks he now oversees. Trained as an engineer at the academic cauldron nestled at OAU, Ile-Ife. Toriola developed early instincts for systems thinking. Engineering is less about spectacle and more about structure: inputs, outputs, redundancies, fail-safes. Those principles would later define his executive style. Before assuming the helm of affairs in 2021, he built a multinational résumé within MTN’s global operations, working across Europe, Asia, and Africa. His exposure to mature telecom markets sharpened his understanding of spectrum strategy, infrastructure scaling, and regulatory diplomacy. Emerging markets, meanwhile, taught him resilience and how to build amid volatility, currency swings, and policy uncertainty. By the time he returned to Nigeria as CEO, he wasn’t just stepping into an office. He was stepping onto a podium, baton in hand, before one of Africa’s largest corporate orchestras. MTN’s yellow branding has become synonymous with connectivity across Nigeria. But branding is only the surface layer. Beneath it lies a network of base stations, fibre backbones, spectrum licenses, fintech platforms, retail partners, and millions of daily transactions. Toriola’s task has been to ensure every section plays in sync via Network expansion teams deploying infrastructure in underserved areas, Engineers optimising 4G capacity while accelerating 5G rollout, Digital teams pushing data services and enterprise solutions, and Fintech arms broadening financial inclusion. Like a seasoned conductor, he rarely dominates the spotlight. Instead, he coordinates tempo. He manages transitions from voice to data, from SIM cards to digital ecosystems, from telco to techco, where military precision, like timing, in telecom, is everything. Nigeria presents a uniquely complex operating environment. Currency depreciation affects capital expenditure. Energy costs strain network operations. Regulatory recalibration can shift market dynamics overnight. Consumer purchasing power fluctuates under inflationary pressure. Leading in such an environment requires composure. Under Toriola’s stewardship, MTN Nigeria has navigated aggressive data growth demands, significant infrastructure investments, and heightened regulatory engagement and expansion into fintech

Karl Toriola

and digital services. Rather than reacting to every tremor, his approach has been anticipatory. Build buffers and strengthen systems, then diversify revenue streams. In many ways, he has positioned MTN not just as a telecom provider, but also enhances digital infrastructure delivery, such as roads or power grids. In addition, the global telecom industry is undergoing reinvention. Traditional voice revenue has plateaued. Data is abundant but margin-sensitive. The future lies in platforms such as fintech, enterprise cloud services, streaming partnerships, and digital marketplaces. Toriola understands this inflection point. MTN Nigeria’s fintech arm has expanded access to digital payments, wallets, and agency banking that incorporates millions into formal financial systems. Broadband penetration initiatives continue to push high-speed internet beyond urban centres. Enterprise services now support SMEs and corporate Nigeria with connectivity solutions tailored to a digitising economy. It is a shift from pipes to platforms, and orchestrating that transformation requires both engineering precision and boardroom diplomacy.

Corporate culture increasingly rewards flamboyance. Social media has turned executives into influencers. Yet Toriola’s power lies in restraint. He prefers alignment over applause, and that does not mean absence of ambition. Under his watch, 5G services were introduced, expanding Nigeria’s access to next-generation connectivity. Capital investments in network quality have continued despite macroeconomic headwinds. Investor communication has remained steady — even during challenging fiscal cycles. His philosophy appears simple: stability builds credibility with a meticulously coy mien. Beyond infrastructure and earnings reports lies another layer — human capital. MTN Nigeria employs thousands directly and supports many more indirectly through agents, distributors, contractors, and partners. In a country battling youth unemployment, the ripple effect of telecom expansion is significant. Toriola’s tenure has emphasised capacity building, internal talent development, and local expertise. A robust network is not merely steel towers and fibre optics; it is engineers climbing masts in remote regions, customer service representatives resolving disputes, and

software teams refining platforms. Furthermore, an orchestra is only as strong as its sections. Telecoms in Nigeria operate under intense regulatory oversight. Licensing requirements, spectrum allocations, compliance frameworks, and consumer protection mandates shape every strategic move. Toriola’s international exposure has proven useful here. He approaches regulation not as confrontation, but as negotiation with a deep understanding that sustainable growth requires policy alignment. This balancing act of protecting shareholder value, while meeting national digital objectives, is one of the most delicate aspects of his role, where it demands steady hands. This author, as a third-party vendor, has witnessed these unique traits of Karl Toriola during his stint as a CTO at a Telco much earlier. At 54, Karl Toriola sits at a compelling intersection. He has witnessed telecom’s evolution from basic GSM rollout to broadband-driven digital economies. He has seen analog transitions, smartphone revolutions, fintech booms, and now AI-enabled infrastructure planning. Yet he remains young enough to steer the next decade of transformation. Nigeria’s digital ambitions are expansive: smart cities, remote education, telemedicine, e-commerce growth, and digital governance. All of it depends on reliable connectivity. In that sense, MTN Nigeria is not peripheral to national development. It is foundational, and at its helm stands a leader who understands both circuitry and strategy. As part of the wider MTN Group ecosystem, MTN Nigeria plays a central role in shaping Africa’s telecom narrative. Karl Toriola recently won the GLG Award as the leading CEO in MTN Group for the 2025 Fiscal Year. The continent’s median age is among the youngest globally. Smartphone adoption continues to rise. Data consumption curves steepen each year. Africa is leapfrogging traditional infrastructure models, using mobile technology to bridge gaps in banking, retail, health, and education. Toriola’s leadership, therefore, carries continental implications. Success in Nigeria often sets benchmarks for other markets within the group - The orchestra’s largest section sets the tone. In a nutshell, there are no viral boardroom theatrics attached to Karl Toriola’s name. No dramatic soundbites, no cult-of-personality branding. Instead, there is continuity. In a market often buffeted by uncertainty, continuity can be revolutionary. His story reminds all and sundry that leadership does not always roar - Sometimes it calibrates, sometimes it listens, then sometimes it tightens a string section that has drifted slightly off-key. It simply ensures that when millions of Nigerians pick up their phones to call, to pay, to learn, to build, the signal is there in clear, reliable, and uninterrupted terms. At 54, the Ife-Modakeke-born Karl Toriola is neither at the beginning nor the end of his corporate symphony. He is in his most productive movement where experience and momentum converge. The ‘Yello Orchestra’ continues to expand its repertoire: 5G expansion, fintech deepening, enterprise solutions, and digital partnerships. Each initiative adds new instruments to an already complex score. As long as the conductor remains steady, the music holds. In Nigeria’s rapidly digitising economy, music is more than sound. It is the nexus of connection, commerce, and possibility. •Ayoola Ajanaku is a Communications and Advocacy Specialist based in Lagos, Nigeria….

THISDAY • FRIDAY, MARCH 13, 2026

NEWS

ROAD TRANSPORT EMPLOYERS ASSOCIATION MEMBERS VISIT APC NATIONAL CHAIRMAN...

L-R: National Secretary-General, Road Transport Employers Association of Nigeria (RTEAN), Comrade Ugwu Henry; National President, RTEAN, Dr. Musa Mohammed (Maitakobi); Deputy National President, Administration, Amb. Muhammad Abubakar; Deputy National President, Operations, Chief Sadiq O. Abubakar; and Ebonyi State Chairman of the Association, Prince James Igwe, during the group’s visit to the APC National Chairman at the party’s national secretariat in Abuja, yesterday PHOTO: ENOCK REUBEN

Report: Civic Freedoms Deteriorating in West Africa, Repression Surges by 26% Nigeria tops region with 332 incidents, journalists remain most targeted Courts increasingly weaponised to silence dissent, report says Emmanuel Addeh in Abuja Civic freedoms across West Africa are deteriorating rapidly, with repression against activists, journalists and ordinary citizens intensifying across the region, a new report by civil society organisation, Spaces for Change (S4C) has revealed. The second edition of the report titled: “Civic Space in West Africa: Trends, Threats and Futures”, unveiled in Abuja, documented 801 civic space violations across 16 West African countries between July 2022 and December 2024, representing a 26 per cent increase over the 639 incidents recorded during the previous six-year period. According to the report, Nigeria recorded the highest number of incidents with 332 cases, accounting for 41 per cent of the total, followed by Guinea with 74 cases, Mali with 70, Senegal with 66 and Burkina Faso with 57. Other countries covered include Niger with 42 incidents, Togo 40, Sierra Leone 29, Ghana 27, Gambia 18, Côte d’Ivoire 16, Benin 13, Liberia 11, Guinea-Bissau five and Mauritania one, while Cape Verde recorded none.

The report warned that civic space repression across the subregion has become systematic and increasingly driven by state authorities using arrests, prosecutions, violence and judicial mechanisms to silence dissent. It identified five major structural drivers responsible for the shrinking civic space in West Africa, including military coups, flawed elections, insecurity, the misuse of digital technologies and the region’s rapidly growing youth population. According to the report, the courts have been failing to check executive overreach, with the judiciary becoming active instruments of repression, seeing judicially enabled repression surge from just nine cases across six years to 70 cases in under three years, a near-700 per cent increase. “Governments are no longer simply ignoring courts; they are weaponising them. This shift from judicial passivity to judicial complicity is the defining new finding of the current period,” it emphasised. “What has also shifted is the geography of the crisis. In the first edition, Nigeria dominated the raw

count. In the second, repression has spread and intensified across the entire subregion, the crisis is no longer concentrated in one country. It has become regional, contagious, and structurally entrenched. The democratic recession of 2023 has become, by 2025, something closer to a democratic emergency,” it added. The report, therefore, advanced six strategic priorities for civil

Governor Uba Sani of Kaduna State on Thursday declared his administration is determined to position the state as the agricultural and livestock capital of Northern Nigeria through sustained investment in farmers and value chains. The governor spoke while flagging-off the distribution of poultry farming inputs to about 5,000 poultry farmers across the state. He described the initiative as part of efforts to strengthen agricultural productivity and enhance livelihoods. Sani said his administration

is committed to transforming Kaduna into a centre of innovation, productivity, and inclusive growth in agriculture. At the event, the state government distributed 500 solar powered freezers complete with panels, inverters and batteries, 300 feed millers, 3,000 bags of poultry feed and 200,000 day old chicks to organised farmer cooperatives across the 23 Local Government Areas of the state. Represented by his deputy, Dr. Hadiza Balarabe, the governor, assured the government would continue to pursue policies that enable the state to attain food security while contributing significantly to

student associations, and grassroots movements; cross-border collaboration; a dedicated regional fund offering emergency grants, legal support, digital and physical security resources for civic actors facing crackdowns. In her remarks, Executive Director of Spaces for Change, Victoria Ibezim-Ohaeri, said the report examined the extent to which citizens are able to exercise their

fundamental freedoms of expression, association and assembly without fear of reprisals. “We were shocked to find out that of all the civic participation rights, the freedom of expression is still the most suppressed one. Governments do not want citizens speaking up. Public authorities, political power holders, they do not want people criticising their actions.

UNICEF Partners Adamawa Govt to Empower Women, Build Healthier Communities Daji Sani in Yola

The healthcare system in Adamawa State facing significant challenges, particularly for women and girls has caught the attention of UNICEF which is collaborating with the Adamawa State Government to improve maternal and adolescent health. Long distances to health facilities, financial constraints, and poor awareness of danger signs during pregnancy contribute to high

Gov Sani Flags Off Distribution of Poultry Inputs to 5,000 Farmers, Restates Agricultural Vision John Shiklam in Kaduna

society, governments, donors, and international partners, including: establishment of sustained engagement with judicial actors; investment in digital security training and encryption tools for activists and journalists as well as inclusion of CSOs in counterterrorism policymaking to embed human rights protections. Besides, the report suggested coalition-building with trade unions,

national agricultural output. “I envisage a Kaduna State that stands tall as the heart of Nigeria’s agricultural renaissance. “We have made deliberate investments to strengthen value chains, expand access to modern technology, and empower farmers to compete, produce, and thrive,” the governor said. He explained that the 5,000 farmers selected for the programme were organised into cooperatives to enhance coordination and ensure efficient utilisation of the inputs. According to him, the intervention will boost productivity and expand economic opportunities across the livestock value chain.

maternal mortality rates. Harmful practices like child marriage, female genital mutilation, and gender-based violence further threaten women’s health and rights. Dr Aisha. Bakari, a medical doctor, with Moddibo Adama University Teaching Hospital, highlighted the severe health risks associated with early marriage and adolescent pregnancy, including obstructed labor, pre-eclampsia, and obstetric fistula. She emphasized that education is key to addressing these challenges, enabling girls to delay marriage and make informed health decisions. The “Three Delays Model” –

delays in seeking care, reaching health facilities, and receiving treatment – contributes to many complications. Dr. Bakari called for collective responsibility from government, healthcare providers, and families to address these issues. UNICEF is collaborating with the Adamawa State Government to improve maternal and adolescent health. Their programs focus on awareness, access to healthcare, and protecting women’s and girls’ rights. Adolescent girls participated in the International Women’s Day celebration, highlighting challenges

affecting their health and wellbeing. Health officials say existing policies aim to ensure equal access to healthcare for boys and girls. Experts stress the importance of comprehensive health education for adolescents. Empowering women and girls is key to building healthier communities. The Adamawa State Government and UNICEF partnership drives efforts toward a more inclusive and rights-based healthcare system. The collaboration targets communities across the state’s 21 local government areas, focusing on awareness and access to healthcare services.

NTPIC Chairman: New Tax Regime Will Protect Low-Income Earners, Boost Revenue

Folalumi Alaran in Abuja

Chairman of the National Tax Policy Implementation Committee (NTPIC) on Thursday said Nigeria’s new tax regime is designed to protect low-income earners, simplify tax compliance and strengthen government revenue for national development. Speaking as keynote speaker at the 2026 Tax Policy Conference organised by BusinessDay Media Limited in Abuja, the NTPIC chairman described the reforms

as the most comprehensive restructuring of Nigeria’s tax system in decades. The conference, themed “Navigating the New Tax Regime: What It Means for Your Wallet,” examined the implications of the Nigeria Tax Acts 2025 for individuals and businesses. According to him, the reforms are anchored on four landmark legislations signed into law in June 2025 by President Bola Ahmed Tinubu. These include the Nigeria Tax

Act, Nigeria Tax Administration Act, Nigeria Revenue Service Act and the Joint Revenue Board Act. He said the new framework aims to simplify tax administration, broaden the tax base and promote fairness in revenue collection. The chairman noted that Nigeria’s tax-to-GDP ratio has historically remained between six and 10 per cent, among the lowest globally, forcing the country to rely heavily on borrowing to fund development.

FRIDAY, MARCH 13, 2026 • THISDAY

NEWS

SANWO-OLU INAUGURATES ELECTRIFICATION PROJECTS IN BADAGRY...

L-R: Special Adviser to the Lagos State Governor on Parastatal Monitoring Office, Hon. Ibrahim Babajide Obanikoro; the Alapa of Apa Kingdom, His Royal Majesty, Oba Oyekan Adekanmi Ilufemiloye Ajose Posi III; Secretary to the State Government, Barr. Abimbola Salu-Hundeyin; Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat; Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye; Chairman, Badagry West Local Council Development Area (LCDA), Hon. Rauf Ibraheem Yemaren; and Chairman, Badagry Local Government, Hon. Babatunde Adande Hunpe, during the inauguration of electrification projects in the Gbaji–Seme and Owode–Apa axis of Badagry West LCDA, facilitated by the Lagos State Ministry of Energy and Mineral Resources, on Wednesday

Federal High Court Stops Ondo Governor, Aiyedatiwa’s Reelection Bid

Fidelis David in Akure

A Federal High Court sitting in Akure, the Ondo State capital, has restrained Governor Lucky Aiyedatiwa of the state from seeking another term in office, ruling that allowing him to contest again would violate the constitutional limit on tenure. Delivering judgment in Aiyedatiwa’s case yesterday, Justice Toyin Bolaji Adegoke, held that the Constitution of the Federal Republic of Nigeria did

not permit an elected president, vice-president, governor, or deputy governor to remain in office for more than eight years. The court declared that if Aiyedatiwa were allowed to contest and won another term, he would exceed the maximum constitutional limit. Justice Adegoke said: “If the third defendant is allowed to contest and serve another four years, that would be against the position of the law as established in Marwa v. Nyako, where

the Supreme Court held that a president or governor could not serve beyond eight years.” Aiyedatiwa first assumed office on December 27, 2024, following the death of former governor Oluwarotimi Akeredolu, whose tenure he completed. He was later sworn in again on February 24, 2025, after winning the November 16, 2024 governorship election on the platform of the All Progressives Congress (APC), defeating

Agboola Ajayi of the PDP. The legal battle was initiated by an APC member, Akin Egbuwalo, who challenged the governor’s eligibility to contest another term in office. Through his counsel, Adeniyi Akintola, a Senior Advocate of Nigeria (SAN), the plaintiff asked the court to interpret Section 137(3) of the 1999 Constitution as it relates to the qualification of Aiyedatiwa to seek re-election. Those listed as defendants in the suit included the In-

ADC GAINS GROUND AS TAMBUWAL, SEVEN OTHER SENATORS DEFECT TO OPPOSITION PARTY ately convince the senate leadership. It was at this point that Akpabio pointed out that the senate had not received any official documentation confirming the alleged expulsion. “You have confirmed that you are not leaving because of division but because you claim to have been sacked. The senate is not aware of that. We don’t have evidence before us,” he said. Senate Leader, Senator Opeyemi Bamidele (Ekiti Central), further complicated the matter by arguing that if Abaribe was truly expelled from his party, the constitution might still require him to vacate his seat. According to him, Section 68(1)(b) could equally apply if circumstances arose that would ordinarily disqualify a lawmaker from contesting an election. Following intense consultations, Akpabio ruled that the senate would give Abaribe one week to submit documentary evidence proving that APGA, indeed, expelled him. The senate president said, “Let us give Senator Abaribe one week to produce evidence of his dismissal. If such evidence is not provided, the senate will take further action in line with the constitution.” Despite the uproar, the defections significantly altered the configuration of opposition forces in the senate. With nine members now in its fold, ADC overtook PDP, which

had been reduced to seven senators, to become the leading opposition party in the chamber. However, the ruling All Progressives Congress (APC) still maintained a commanding dominance with 87 of the 109 seats, ensuring it retained the numbers required to pass legislation and shape the senate’s agenda. Three seats – Nasarawa North, Enugu North and Rivers South East – remain vacant following the deaths of the senators who previously occupied them. Thursday’s dramatic session might signal the beginning of a broader realignment within Nigeria’s opposition politics ahead of the next electoral cycle.

12 Lawmakers Defect to ADC, APC

Twelve members of House of Representatives announced their defection from PDP, LP, and Young Progressives Party (YPP) to APC and ADC. The lawmakers, whose defections were announced on the floor of the House by Deputy Speaker, Hon. Benjamin Kalu, at plenary, cited irreconcilable differences as the reason for their defection. Hon. James Barka, Hon. Laori Bitrus, Hon. Zakaria Nyampa, Hon. Kobis Thimnu, Hon. Midala Balami from Borno State, and Hon. Mohammed Bargaja from Sokoto State defected from PDP to APC.

Hon. Peter Uzokwe moved from YPP to ADC, while Hon. Afam Ogene, Hon. Peter Aniekwe and Hon. Lilian Obageli Orogbu defected from LP to ADC. Similarly, Hon. Jessey Okei Onakalusi from Lagos State and Hon. Murphy Omoruyi Osaro from Edo State moved from LP to ADC.

the ward leadership and members over the years. “Kindly accept this as my official notice and communicate same to the appropriate authorities.” He did not disclose the party he was going next.

dependent National Electoral Commission, the AttorneyGeneral of the Federation and Minister of Justice, Governor Aiyedatiwa, the APC, and the deputy governor, Olayide Adelami. Justice Adegoke noted in her judgment that the processes filed by the third to fifth defendants were deemed abandoned because they failed to participate in the hearing of the suit. According to her, only the submissions of the plaintiff and the first and second defendants were considered. The judge subsequently dismissed the objection raised by the first defendant, ruling that the suit was neither speculative nor academic. She held that, “This court finds that the action filed by the plaintiff discloses a valid

cause of action and cannot be dismissed as speculative or academic.” The court also emphasised that it possessed the inherent jurisdiction to interpret provisions of the Constitution whenever such interpretation was sought. Adegoke added: “Whenever a court is invited to interpret any provision of the Constitution, the court has the inherent jurisdiction to hear and determine such a matter because the court itself is a creation of law and must uphold the Constitution at all times.” Having found merit in the arguments presented by the plaintiff, the court granted all the reliefs sought in the suit, effectively restraining the governor from seeking another term in office.

Ex-Agitators Rally Behind Tompolo, Urge Tinubu to Renew Tantita’s Contract Adamu Atiku Abubakar, son

Atiku’s Son, Adamu Abubakar, Quits PDP

of former Vice President Atiku Abubakar, resigned his membership of PDP with immediate effect. This was contained in a resignation letter dated March 4, 2026, and addressed to Chairman of PDP in Jada 1 Ward. Abubakar announced his decision to step down from the party, expressing appreciation to the ward leadership and members for their support over the years. He said, in his resignation letter to the ward chairman of Jada Jada Ward 1,, “I hereby formally resign my membership of the Peoples Democratic Party (PDP) at Jada 1 Ward with immediate effect.” He thanked the party for the opportunity to serve and requested that his resignation be communicated to the appropriate authorities. He added, “I sincerely appreciate the opportunity to have served and the support extended to me by

Sylvester Idowu inWarri

Leaders of the First Phase Ex-agitators under the umbrella of Niger Delta Ex-Agitators’ Forum yesterday urged President Bola Ahmed Tinubu to ignore calls to cancel pipeline surveillance contract awarded to Tantita’s Security Services Limited (TSSNL) just as they declared their support for ex-leader, Chief Government Ekpemuplo alias, “Tompolo”. The National President, General Aroni Oputu, flanked by other leaders at a press conference in Udu, Delta State, said attempts by some groups to push for the cancellation of the contract were politically motivated and aimed at undermining the stability recorded in the Niger Delta. The forum, which represents frontline leaders from the nine oilproducing states, described critics of the arrangement as “conflict merchants” seeking to drag the region back to the era of pipeline vandalism and illegal bunkering.

In the address, signed by representatives of the states - General Awe Akoke (Delta), Ayabowei Godgift (Bayelsa), Prince Dennis Ogbonna (Rivers), James Ukpong (AkwaIbom), Chief Godwin Ukori (Edo), Andrew Vocor (Imo) and Emmanuel Chibuike (Abia), the ex-freedom fighters described those against Tantita, chaired by High Chief Government Ekpemukplo a.k.a Tompolo, as “faceless individuals.” They insisted the pipeline surveillance arrangement has helped reverse the decline in Nigeria’s oil production while creating employment opportunities for thousands of youths across the Niger Delta. “This is not just a contract; it is a massive job creation engine. From Bayelsa to Akwa Ibom and other states of the Niger Delta region, thousands of our youths who were once lured by crime are now gainfully employed, living decent lives as protectors of our national assets,” the group stated.

According to the ex-agitators, the decision of President Bola Tinubu to sustain the contract has brought measurable improvements to oil production and investor confidence in the country’s petroleum sector. The forum said: “We categorically state that President Bola Ahmed Tinubu did not make a mistake in sustaining this contract. “Under the leadership of the Managing Director of Tantita Security Services Limited, Chief Kestin Pondi, and the technical expertise of partners like Chief Mathew Tonlagha of Maton Engineering, we have witnessed a miracle in the creeks. Before Tantita, Nigeria’s oil production was in a freefall. But today, production is surging, investor confidence is restored, and the national treasury is breathing again.” It claimed the attacks against Tantita were sponsored by opponents worried about the growing support for President Tinubu in the Niger Delta ahead of the 2027 elections.

THISDAY • FRIDAY, MARCH 13, 2026

NEWS

PREPARING FOR COMMENCEMENT OF INTERNATIONAL FLIGHTS AT GATEWAY INTERNATIONAL AIRPORT...

L-R: Special Adviser to the Ogun State Governor on Security, AIG Olusola Subair (Rtd); Consultant on Aviation to the Governor, Dr. Muhammed Odunowo; Comptroller, Nigeria Immigration Service, Ogun State Command, Comptroller Olufunke Odusote; Consultant to the Governor on Aviation Management, Captain Dapo Olumide; Commissioner for Transportation, Engr. Gbenga Dairo; Representative of the Nigerian Civil Aviation Authority (NCAA), Dr. Uyiekpen Asuen; and Permanent Secretary, Ministry of Transportation, Mrs. Aderonke Tokunbo-Peters, during a meeting with security agencies aimed at preparing for the commencement of international flights at the Gateway International Airport in Ogun State on Monday

PDP Can Never Die, Wabara Declares Flags-off membership e-registration in Abia Party mulls reconciliation with Wike’s faction Abia chapter urges Ikpeazu to help Nigerians access green energy, others from Spain

Chuks Okocha in Abuja and Boniface Okoro in Umuahia Former President of the Senate and Peoples Democratic Party (PDP) Board of Trustees (BoT) Chairman, Senator Adolphus Wabara, has assured members of the party nationwide and Nigerians that the party will not die. Addressing rising fears about the fate of PDP, which had been weakened by long, drawn-out internal leadership squabbles, Wabara declared that PDP will not die, as it had been repositioned for future electoral victories. Flagging off the party’s online membership registration in Umuahia, Abia State, he said serious efforts were ongoing to resolve issues bedevilling the party. The event also featured a stakeholders’ meeting and inauguration of Local Government Caretaker Committee leadership of the Kabiru Tanimu Turaki-led National Working Committee (NWC). Overwhelmed by the turnout of party faithful at the event, Wabara declared, “the PDP can never die.” He commended the Abia PDP Caretaker Committee Chairman, Hon. Ikpegbu Emeka-Yellow, for demonstrating leadership capacity within less than a month in office and advised him and his team to avoid mistakes of the past by doing away with godfatherism. The PDP BoT chairman emphasised

that efforts at rebuilding the party would yield quicker and greater dividends when the leaders ensured equal opportunities for all members. He urged members across the state to register en masse.

PDP Considers Peace with Wike’s Faction

PDP, yesterday, re-emphasised its position on seeking reconciliation within the party and fielding candidates to all the offices in the 2027 general election, including presidency. National Publicity Secretary of PDP, Ini Ememobong, said this while providing updates on moves being made to reconcile the warring factions in the opposition party. That came barely 24 hours after the Nyesom Wike faction fixed presidential primaries for May 25, while also saying it was not averse to reconciliation. However, one of the major hurdles before the pro-posed reconciliation is the fact that the Wike faction is already sold on President Bola Tinubu’s reelection, while the party’s mainstream is determined to field a candidate for the presidential election. Speaking on Arise News’ the Morning Show, Ememobong expressed optimism that a common ground could be negotiated but also insisted that PDP would provide candidates at all levels in the coming election. When told that reconciliation might

seem delusional at this point going by the factors in play, he said, “Truth is that both hope and delusion are human emotions, and at the end of the day, it is the result that determines which was hope and which was delusion. “So I can assure you that we may not endorse the president. You see what we are doing now is, when you are a leader, you are listening to the people you are leading. In the circumstance that we are, we are delegates of power and we are listening to the delegators who delegated the power to us to act. “And at this point, the delegators of power have said, look, can we at

least get to the table? When parties come to the table, you come with your reducible minimums. If there must be peace, one of the terms of the agreement we are going to take will be that we will field candidates at all points. “And about presidential candidates, we will provide a viable candidate. We are going [to the negotiation table] with an open mind for reconciliation, but that reconciliation must keep us as an opposition party.” He explained that one of the irreducible minimum was that PDP would not die and must be on the

ballot in the coming elections. Ememobong explained that soon the party led by Turaki in consultation with other stakeholders would release names of those that will negotiate and reconcile with the Wike faction.

Abia PDP Urges Ikpeazu to Help Nigerians Access Green Energy, Others from Spain

PDP in Abia State tasked Nigeria’s Ambassador to Spain, Dr Okezie Ikpeazu, to deploy his wealth of experience and knowledge to advance bilateral initiatives between Nigeria

and Spain. In a congratulatory message by Abia PDP loyal to Wike, the party particularly urged Ikpeazu to help Nigerians and its institutions to access green energy from his country of posting. “The appointment of Dr. Ikpeazu to Spain is also expected to fast track and boost mutual exchanges of educational scholarships, housing and real estate investment and development between the two countries,” said the state PDP Publicity Secretary, Chief Jude Udeachara, in a statement made available to newsmen in Umuahia.

PSC Promotes 13 CPs to AIGs, 17 DCPs to CPs, Others Linus Aleke in Abuja

The Police Service Commission (PSC) has approved the promotion of 13 Commissioners of Police (CPs) to the rank of Assistant Inspectors-General of Police (AIGs) after they successfully completed the recently concluded written examinations and oral interviews conducted at the Commission’s Corporate Headquarters in Abuja. The list of the successful officers has been forwarded to the Inspector-General of Police for immediate implementation. According to a statement by the Head of Protocol and Public Affairs of the Commission, Torty Njoku Kalu, the newly promoted AIGs included

Emmanuel Ado Christopher, former Commissioner of Police in Yobe State; Joseph Eribo, former CP Ekiti State; Dantawaye Miller, former CP Federal Capital Territory; and Uche Ifeanyi Henry, PhD, Director of the Nigeria Police Force National Cyber Crime Centre. Others were Olarenwaju Peter Ogunlowo, former CP Ogun State; Muhammad Dahiru, former CP Jigawa State; Dankombo Morris, former CP Adamawa State; Bello Shehu, former CP Katsina State; Ibrahim B. Maikaba, former CP Zamfara State; Ahmed Musa, former CP Sokoto State; Olohundare Moshood Jimoh, former CP Lagos

State; Simeon Udofia Akpanudom, former CP Anti-Fraud, FCID Annex Lagos; and Haruna Olufemi, former CP Oyo State. In the same promotion exercise, the Commission elevated 17 Deputy Commissioners of Police (DCPs) to the rank of Commissioners of Police (CPs). Those promoted were Abdulrahim Audu Shaibu, Commander NIWA Lokoja; Abbas Sule, DC DFA INTERPOL; Ojugbele E. Adebola, DC OPS Zone 2 Lagos; Preye Raymond Egbetokun, DC DFA Akwa Ibom Command; and Kayode Uthman Magaji, Community Policing, Research and Planning, Force Headquarters, Abuja.

Also promoted were Adebisi Bola Lateef, DC DFA Osun Command; Markus Ishaku Basiran, DC DFA Zone 6 Calabar; Silas Bamidele Aremu, DD Admin DoLS; Sylvester Onyie Uzoefuna, DC DOPS Cross River Command; Magaji Ismaila, DC Projects PAB Force Headquarters Abuja. Theodore Chukwuemeka Obasi, DC Maritime Lagos; Sarah Idowu Ehindero, DC DFA Ogun State Command; Hayatu Shaffa Hassan, DC SID Abia State Command; Mohammed Babakura, DC Inspectorate DTD; Danjuma I. Yahaya, DC DOPS Zone 12 Bauchi; and Rebecca Uchenna Okereke, Band Master.

TRUMP: STOPPING IRAN’S NUCLEAR WEAPONS MORE CRITICAL THAN SURGING OIL PRICES

after the assassination of Ali General of the UN, also called for Scott Bessent, has said. Bessent Troops Kill ISWAP Commander, council Khamenei, that he was concerned all parties to “cease the hostilities” explained that the arrangement about the loss of civilian life in the and suggested that international will come when it is “militarily 20 Terrorists in Yobe law had been broken during the possible”, and could involve an conflict. Muhammad Kabiru in Maiduguri

Troops of the Joint Task Force (North East) have killed over 20 Boko Haram/ISWAP terrorists, including a senior commander (Abu Yusu), the Munzir of Dursula in Goniri, Gujba Local Government Area of Yobe State. The spokesman of the operation, Lt. Col. Sani Uba, said the encounter occurred on Tuesday, when the troops came under heavy assault from multiple directions. “The vigilant troops responded swiftly with superior firepower and tactical manoeuvres, co-

ordinating their defence while reinforcements and air support were deployed,” he said He revealed the terrorists were overwhelmed and forced to retreat in disarray, suffering heavy casualties, including a senior commander. “Following the clash, troops recovered several bodies, weapons, ammunition, improvised explosive devices (IEDs) and other equipment abandoned by the retreating terrorists. “Follow-up operations in the Timbuktu Triangle, specifically around Gwaigomari, led to the discovery of additional terrorist

casualties,” he said. He emphasized the area remains firmly under military control and that ground and air forces continue aggressive follow-up operations in surrounding communities to locate any surviving terrorists. “Operation HADIN KAI remains resolute and committed to the complete defeat of terrorism and the restoration of lasting peace and security across the North-East. “The Military High Command commended the troops for their gallantry and resilience while urging them to sustain the operational tempo,” he added.

Speaking about a phone call between the pair, Mr Modi wrote on X: “Had a conversation with Iranian President, Dr Masoud Pezeshkian, to discuss the serious situation in the region. Expressed deep concern over the escalation of tensions and the loss of civilian lives as well as damage to civilian infrastructure. “The safety and security of Indian nationals, along with the need for unhindered transit of goods and energy, remain India’s top priorities. Reiterated India’s commitment to peace and stability and urged for dialogue and diplomacy.” Also, António Guterres, Secretary-

conflict, the Telegraph reported. He said: “The unfolding crisis in the Middle East constitutes a grave threat to international peace and security and has caused immense suffering for civilians. De-escalation and dialogue are the only way out. I strongly urge all parties to cease the hostilities, uphold international law, protect civilians and return immediately to the negotiating table.”

US Navy to Escort Oil Tankers Through Hormuz Strait

The US Navy will escort oil tankers through the Strait of Hormuz, the American Treasury Secretary,

“international coalition”. Asked about the issues surrounding the strait, he told Sky News: “That was always in our planning – the chance that the US Navy, or perhaps an international coalition, will be escorting oil tankers through. “There are, in fact, tankers coming through now, Iranian tankers, I believe some Chinese flagged tankers, have come through, so we know that they have not mined the strait.” He added that the Trump administration had been planning for this scenario “for months” and that the US Navy will do it “as soon as it is possible”.

FRIDAY, MARCH 13, 2026 • THISDAY

NEWS

LAGOS GOVERNORSHIP CONTEST ON THEIR MINDS...

L-R: Most Superior Evangelist, Celestial Church of Christ International Representative, Moses Ajao; Oba of Ketu-Kosofe Land, His Royal Majesty Dr. Isiaka Adio Balogun Oyero; Convener, Renewed Hope 2.0, Dr. Samuel Mawuyon Ajose; Most Superior Evangelist, Celestial Church of Christ International Representative, Olusegun Olarinde; and former member of the House of Representatives, Hon. Rufikat Onabamiro, at the declaration for the Lagos governorship election and mobilisation of votes for the re-election of President Bola Ahmed Tinubu held at the Police College, Ikeja, Lagos, on Wednesday

Army Buries Three Commanding Officers, Nine Others in Borno as Ex-Gov Collapses Zulum donates N5m each to families of the officers, N1m each to the others

Muhammad Kabiru in Maiduguri The Nigerian Army has laid to rest three commanding officers and nine other personnel killed during counter-insurgency operations across Borno State.

The fallen soldiers were buried yesterday morning between10 and 12am at the Maimalari Military Cantonment Cemetery in Maiduguri. THISDAY gathered that the quiet burial was organised under tight security to minimise

media presence and public outrage. THISDAY gathered that the burial conducted with full honour was witnessed by the commander of Sector 3, top military officers and the next of kins of the deceased soldiers.

Also in attendance were the officials of Borno State government, led by the Secretary to Borno State Government, Hon Bukar Tijjani, and the Commissioner for Local Government, Sugum Maimele. However, shocked by the

development, a former governor of Borno State, Maina Maaji Lawan, collapsed during the burial procession but was resuscitated “In fact they had to give him water to break his fast before he regain his consciousness. Nine

CA R D O S O : N I G E R I A B E T T E R P O S I T I O N E D TO W E AT H E R C U R R E N T G LO B A L E C O N O M I C S H O C KS bank’s interventions. He stated, “We have also seen almost a 200 per cent increase in capital and investment flows between 2023 and 2025. “To be clear, the relative stability of the currency we are seeing today is not an accident but the result of deliberate efforts to rebuild trust and strengthen the confidence of both domestic and international investors. “Our external reserves have recently exceeded 50 billion dollars, reflecting structural improvements in our balance of payments and increasing investment flows into the Nigerian economy.” The CBN governor said the depth of Nigeria’s foreign exchange market was attested to a couple of days ago when the amount of transactions that were done in the market exceeded $1 billion. He said the progress reflected not only the resilience of Nigeria’s financial system, but also the growing confidence of investors in the long-term potential of the economy. Cardoso said, “By strengthening the capital foundations of our banks and ensuring that our financial markets are transparent and well governed, we are also strengthening the foundations of economic growth itself.” He said CBN was also taking the fintech ecosystem seriously and establishing clear guardrails for KYC, AML, and operational risk, adding that these measures are not obstacles but the infrastructure that ensures innovation can scale sustainably. He said, “Just as capital buffers protect banks, these regulatory frameworks protect the integrity and

credibility of the broader financial ecosystem. “By combining innovation with discipline, technology with integrity, and opportunity with responsibility, we can ensure that Nigeria’s financial system not only adapts to the digital age but thrives in it. “This is the bridge between strong foundations today and sustainable growth tomorrow.” Cardoso assured the students of St. Gregory’s that they would be entering a world of extraordinary possibility and many of the industries that will define their careers were only just beginning to emerge. He stated, “But what is perhaps most exciting is that the future will not belong to one profession alone. Increasingly, we are witnessing the integration of disciplines in ways that would have been unimaginable only a generation ago. “The doctor of tomorrow will most likely rely on artificial intelligence to diagnose disease and the lawyer will work alongside technologists to design digital contracts and regulatory systems. “The engineer may build financial platforms, and the financier may rely on data science to manage global risk. “At the same time, entire new creative and entrepreneurial opportunities are emerging. What this means is that the careers of the future will increasingly belong to those who can combine different skills and perspectives. “Young people today are already building careers through a medley of capabilities: creativity and technology, business and storytelling, analytics and design.

“So, whether you choose to become a doctor, lawyer, engineer, a financier, an entrepreneur, athlete, or artist, your success will increasingly depend on your ability to understand and work across multiple disciplines.” Cardoso explained, “Skills in areas such as artificial intelligence, coding, data science, digital media, and emerging technologies will probably not replace traditional careers but they will certainly enhance them. “As you think about your future, it is important to look not only at the world as it exists today, but at the world that is rapidly emerging. “The careers of the next twenty or thirty years will reward those who are curious, adaptable, and willing to learn beyond the limits of a single field of study.” Cardoso said the founders of St. Gregory’s College understood that the most important foundations a nation could build were not physical structures, but human ones. According to him, “Strong schools produce disciplined thinkers. Disciplined thinkers build strong institutions. And strong institutions create prosperous nations. “The classrooms of today will shape the financial systems of tomorrow. The character formed here will influence the decisions that shape markets, institutions, and policies across our country.” Meanwhile, at during a panel discussion at the Agora Policy forum, Director-General, Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, observed that the recent reforms on foreign exchange (FX) and fuel subsidies had impacted

the economy in diverse ways. Applauding the reforms for correcting some of the distortions in the system, Almona said while there was increased investor confidence in the country in the wake of the reforms, businesses had been buffeted by a more challenging operating environment, and receding consumer demand, among others. She said there were expectations that savings accruing from the removal of subsidies would be channelled into infrastructure, especially power. Almona called for complementary measures from the fiscal and monetary authorities to cushion the effect of the reforms on businesses and vulnerable citizens Almona stated that the private sector was struggling to remain afloat, with about 50 per cent of business costs channelled into energy needs. She called for innovative ways of extending more support to small and medium enterprises (SMEs). She also regretted that tracking of government’s interventions in some sectors of the economy had remained at best poorly executed or anonymous. Contributing to the discussion, Country Director, CARE International, Dr. Hussaini Abdu, called for a standard national framework on social protection. Abdu observed that hasty implementation of the reforms by the government without social safety safeguards was unjustifiable. He stressed that the country had been embarking on one aspect of economic/structural reform or the other since 1986, under a military

regime. Abdu lamented the social dislocation of the current reforms on the masses due to the inability of the government to consult extensively, and put in place workable social protection mechanisms prior to implementation. In his intervention, Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Dr. Muhammad Sani Abdullahi, said the economy was on the brink of collapse before the reforms kicked in. Abdullahi added that if the new administration of President Bola Tinubu had hesitated, the repercussions would have been economically fatal. He juxtaposed prevailing macroeconomic fundamentals prior to the reforms with the current realities, and stated that net reserves were about $800 million, as opposed to about $40 billion currently, with inflation trending down, among others. He stated that before the reforms, investor confidence was at its lowest because the monetary authority could not meet its FX obligations to investors, with a staggering $7 billion in unmet foreign liabilities. Abdullahi said the current CBN reforms led to the clearing of the backlog of FX obligations, which led to the current boost in investor confidence and Nigeria currently considered one of the leading investment destinations of choice. The CBN deputy governor stated that there had been FX market stability, and a downward trajectory of inflation. He pointed out that the next stage would be to make the stability sustainable while working

soldiers were buried according to Islamic rites, and three based on Christian rites. “Borno State government gave each of the families of the three Lieutenant Colonels N5 million, while the other ranks got N1 million each,” he said.

for a broad-based, inclusive growth anchored on job creation. Abdullahi said the situation at the time was too dire and compelling to delay the reforms a day longer. Senior Economist, World Bank, Nigeria, Dr. Samer Matta, said the country would have slipped into the position Sri Lanka found itself but for the timely reforms of the Tinubu administration. Matta added that a gradual approach to subsidy removal wouldn’t have worked. He agreed that there should have been social protection for the vulnerable before the reforms, urging more conscious efforts to drive down inflation and ensure at least a five per cent economic growth. In her contribution, Special Adviser to the President on Economy and Finance, Ms. Sanyade Okoli, said the government meant well when it came up with the reforms, adding that that the reforms have impacted positively on the macroeconomic stability of the country. Okoli appealed for patience and understanding from Nigerians on the negative effects, assuring that in no distant time, measures put in place to cushion such consequences will begin to kick in. Earlier, in her goodwill message, Chairperson of Agora Policy, Dr. Ojobo Atuluku, stated that serious reforms were ongoing across the economic sector, stressing that change is constant. Atuluku said economic policy must never be a one-off event, but should be a constant conversation between those who design reforms, those who implement them, and those who are impacted by them.

THISDAY • FRIDAY, MARCH 13, 2026

NEWS

CIVIC LITERACY TOWN HALL WORKSHOP...

L-R: Lagos Focal Person, Yiaga Africa, Amb. Ogunshola Michael; Assistant Electoral Officer III, Ojo INEC, Mr. Aribasoye Gbenga; Electoral Officer, Ojo INEC, Mrs. Ogundare Omolara; Ambassador, Youth Power Project, Ojo Local Government Area, Moses Adedeji; Public Affairs Officer, INEC Lagos, Mrs. Esther Emeh; Executive Director, Springwell Development Initiative, Feyikemi Idowu Omoniyi; Ambassador, Youth Power Project, Ojo Local Government Area, Halimat Oyefolu; and Assistant Director, National Orientation Agency (NOA), Aiyedun Abidemi, during the Springwell Development Initiative Civic Literacy Town Hall Workshop titled Youth Power, Our Voice: Enhancing Civic Literacy and Voters’ Participation in Lagos State, held in Lagos, yesterday

ADC: Tinubu’s Democratic Credentials Make Mockery of Participatory Democracy Chuks Okocha in Abuja African Democratic Congress (ADC) has criticised President Bola Tinubu’s recent remarks about the state of democracy in Nigeria. Speaking at an Iftar with the Inter-Party Advisory Council (IPAC), Tinubu had dismissed opposition criticism of his handling of the Electoral Act 2026 amendment, stating that the “game is sweet if you are winning”. But ADC described the president’s remarks as cynical, and said it made a mockery of democratic participation and reduced the serious business of government to a mere “game”. In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the comment raised serious questions about the president’s democratic credentials and his understanding of the grave responsibilities of leadership at a time when millions of Nigerians were struggling with rising violence, unemployment, and widespread poverty across the country. Abdullahi stated, ‘’For a sitting President presiding over a country facing deep economic hardship and widespread insecurity, this remark is not only cynical, it is profoundly

troubling. “Perhaps more importantly, this remark also raises serious questions about the president’s democratic credentials and his understanding of the responsibilities that come with leadership in a constitutional democracy. “Democracy is not a contest to be enjoyed by those in power; it is a system of governance built on accountability, respect for institutions, and responsibility to the people.’’ Abdullahi said the president claimed to be a democrat, ‘’But in reality, he has demonstrated more totalitarian tendencies than most dictators. “The Electoral Act, which is, to all intents and purposes, designed to further emasculate the opposition, lower the nation’s ethical standard, and give President Tinubu a free pass to victory is something no true democrat would do. Yet, the president sees this as a game. ‘’The president may go ahead and award himself victory over the political game, but there is no doubt that he is failing woefully in the game that matters most: providing leadership and improving the lives of citizens. “Despite the APC’s near total control of the entire political

structure in the country, the ruling party under President Tinubu has failed in its primary responsibility to everyday Nigerians whose lives and livelihoods they now consider a fair game.’’ The statement added, ‘’It is important to therefore ask the President: Who exactly is winning in

this so-called game? Are Nigerians winning when communities are attacked and citizens are killed? Are Nigerians winning when graduates cannot find jobs? “Are Nigerians winning when families cannot afford food and basic necessities? Are Nigerians winning when the brightest young people

In commemoration of International Women’s Day, a socio-political group, Cross River Jewels, has distributed sanitary pads to 1,000 female students in five secondary schools in Calabar, Cross River State, in a major intervention aimed at promoting menstrual hygiene and supporting girls’ education. The initiative, which received support from Natasha AkpotiUduaghan, Senator representing Kogi Central Senatorial District, provided each beneficiary with sanitary products expected to last for three months. A statement from the Sena-

tor’s Media Office on Thursday, explained that the outreach covered students of Government Secondary School, Barracks Road; Government Secondary School, State Housing; and Government Technical School, Mayne Avenue. It added that Government Secondary School, TTC Ikot Ansa; and Government Secondary School, Atu, would also benefit. It explained that the DirectorGeneral of the group, Comrade Precious Besong, led members of the organisation during the exercise, supervising the distribution of the hygiene materials to the students. Quoting the the organisers, the statement explained the pro-

ADC said, “The presidency is not a prize to be enjoyed. It is a burden to be carried with competence and respect for the Nigerian people and the laws of the Federal Republic. ‘’At this critical moment in Nigeria’s history, governance must never be trivialised. Too many lives depend on it.’’

Appeal Court Affirms Oluyede as PDP Candidate for Ekiti Guber Poll Gbenga Sodeinde in Ado Ekiti

The Court of Appeal sitting in Akure, Ondo State, affirmed Dr. Wole Oluyede, as the duly nominated governorship candidate of the PDP for the 2026 Ekiti State governorship election. In a unanimous judgment, the three-member appellate panel set aside the earlier ruling of the Federal High Court in Ado-Ekiti, which had nullified the party’s primary election. The panel, led by Justice Peter Chudi Obiorah and comprising Justices Jane Esienanwan Inyang and Peter O. Affen, held that the PDP primary election that produced

Oluyede was valid and conducted in compliance with the party’s constitution and the provisions of the Electoral Act. The court specifically affirmed that the primary election organised by the National Working Committee (NWC), led by Kabiru Tanimu Turaki was lawful, transparent and properly conducted. The court dismissed Ayeni’s claim on the grounds that the primary election that produced Oluyede as a candidate complied with all the Electoral Acts and was in compliance with the party’s constitution. It held that in line with INEC guidelines and timetables, what

Akpoti-Uduaghan Supports Distribution of Sanitary Pads to 1,000 Schoolgirls in Calabar Sunday Aborisade in Abuja

see their future only outside their own country? ‘’If politics is a game to the President, the Nigerian people are the ones paying the price. Nigeria does not need a gamer-in-chief. Nigeria needs a leader who understands the weight of the office he holds and the responsibility it carries.”

gramme was designed to address the financial and psychological challenges many adolescent girls face during their menstrual cycles, particularly in communities where sanitary products remain unaffordable for many families. It added the intervention was intended to ensure that young girls do not miss classes or suffer embarrassment during their menstrual periods due to a lack of basic hygiene materials. The group said, “The pads distributed are expected to serve each of the beneficiaries for about three months. “The goal is to help the girls pursue their academic activities

without disruption or unnecessary stress associated with menstrual hygiene challenges.” Beyond the distribution of sanitary products, the outreach also featured educational sessions on personal hygiene and reproductive health. Facilitators engaged the students on the importance of maintaining cleanliness during menstruation, building self-confidence, and staying committed to their studies. The students were also encouraged to avoid stigma associated with menstruation and to remain focused on their academic aspirations regardless of the natural challenges of their monthly cycle.

the petitioner asked for had been overtaken by events because there is no longer a window for the conduct of the primary election. The court also ruled that Ayeni, the litigant, did not exhaust the internal conflict-resolution mechanism of his own party before rushing to court. REACTING, the PDP welcomed the judgment and commended the courage of the judiciary despite alleged pressures to do otherwise. The Federal High Court in Ado-Ekiti had on January 13, 2026, nullified the Ekiti PDP governorship primary held on November 8 and 9, 2025. Dissatisfied with the judgment, the PDP filed an appeal, asking the appellate court to overturn the decision of the lower court. In its ruling, the Court of Appeal allowed the appeal and set aside the judgment of the Federal High Court, declaring that the primary election that produced Oluyede was duly conducted. The ruling effectively settled the leadership and candidacy dispute that had trailed the party’s preparations for the 2026 Ekiti State governorship election. With the judgment, the PDP was expected to proceed into the election with Oluyede as its candidate. Confirming the judgement, the National Publicity Secretary of the PDP, Ini Ememobong said in a statement that, “By this judgment, the candidature of Dr. Olumayokun Oluwole Oluyede, who was given a certificate of return by the Turaki-led PDP, has been validated. ‘’We encourage all our supporters

in Ekiti to double their campaign efforts to ensure that the PDP wins the governorship election and gives to the people of the state the qualitative leadership that our candidate and party offer.’’ Also reacting, the Southwest PDP Publicity Secretary and Director of Media and Publicity for the PDP 2026 Governorship Campaign Council, Sanya Atofarati, described the verdict as a victory for democracy and the rule of law. Atofarati explained that after the party’s primary election, two aspirants — Fumilayo Ogun and Ayeni — initially challenged the process in court. According to him, Ogun later withdrew her suit out of respect for the party after realising that the primary election complied with all legal and electoral requirements. “With today’s judgment, the Court of Appeal has clearly affirmed that Dr. Oluyede remains the validly nominated candidate of the PDP for the June 2026 governorship election in Ekiti State,” he said. He commended the judiciary for standing firm despite what he described as political pressure from detractors. “The judiciary has demonstrated courage and integrity. Democracy can only thrive when institutions remain independent and when political actors respect internal conflict resolution mechanisms,” he added. Atofarati said the ruling has finally resolved the legal dispute surrounding the party’s governorship ticket and positioned the PDP for the upcoming election.

FRIDAY, MARCH 13, 2026 • THISDAY

FOCUS

How NBET’s N501bn Bond May Unlock Fresh Investment in Power Sector Nigeria’s electricity sector has long struggled with chronic liquidity shortages that deterred fresh capital and undermined stable power supply. But a recent N501 billion bond by Nigerian Bulk Electricity Trading Plc (NBET) could signal a potential turning point. Designed to clear legacy debts owed to power generation companies and improve payment assurance across the value chain, the instrument is expected to restore confidence among investors wary of the sector’s financial instability. If successfully implemented, the bond may not only stabilise cash flows in the market but also open the door for new investment into Nigeria’s troubled power industry, writes Emmanuel Addeh.

on President Bola Ahmed Tinubu’s commitment in resolving the legacy issues and I can say that once this process is over, construction will commence immediately on the second phase of our Egbin Power Plant. On behalf of the Generation Companies, I would like to thank the President for this resolution,” he stated. This underscores the bond’s central promise: by restoring confidence and improving cash flow, it could unlock stalled capacity expansion and improve availability of existing plants. Energy analysts note that generation capacity in Nigeria often exceeds what is actually dispatched, largely because of gas constraints, transmission bottlenecks and financial distress. If Gencos can pay gas suppliers promptly and invest in maintenance, plant availability could improve even without building entirely new stations. Resolving outstanding receivables is widely viewed within the industry as a means for renewed capital investment in generation capacity. Government officials insist that debt clearance is only one pillar of a broader reform strategy. Verheijen emphasised that financial restructuring must be accompanied by structural changes to prevent new liabilities. These include improving market transparency, enforcing remittance discipline, enhancing transmission capacity and ensuring that subsidies, where necessary, are explicitly budgeted and cash-backed. For the administration, the bond represents a foundational step, clearing the past to create space for forward-looking reforms. The language used by NBET, describing the sovereign guarantee as “unwavering sunlight and water” for growth, reflects an ambition to transform the electricity market from a subsidy-dependent ecosystem to a commercially viable one.

A New Way of Thinking

hen the NBET announced the successful issuance of the N501.02 billion bond to settle legacy debts owed to power generation companies (Gencos), it was more than another government financing headline. The N501.02 billion Series 1 bond represented the first issuance under the Federal Government’s N1.23 trillion initial approval within the broader N4 trillion Presidential Power Sector Debt Reduction Programme (PPSDRP), designed to address legacy liabilities across the Nigerian Electricity Supply Industry (NESI). The issuance therefore marked the first phase of a multi-stage capital market intervention aimed at gradually restoring liquidity and financial stability to the electricity market. For an electricity market burdened by more than N6 trillion in arrears (as of December 2025), liquidity shortfalls and investor anxiety, the transaction signaled what policymakers have described as a long-overdue reset. The bond, issued through NBET Finance Company Plc, a dedicated, bankruptcy-remote special purpose vehicle established to issue the PPSDRP bonds, is fully guaranteed by the federal government under the Presidential Power Sector Debt Reduction Programme. Structured in two tranches, a N300 billion 7-year 17.50 per cent Series 1 (Tranche A) and a N201.02 billion 7-year 17.50 per cent Series 1 (Tranche B), the instrument is designed to inject immediate liquidity into the generation segment of the Nigerian Electricity Supply Industry (NESI). But beyond the numbers, the transaction represents an attempt to restore credibility, stabilise operations and rebuild investor confidence in a sector that has struggled for more than a decade.

Deep-seated Liquidity Crisis

Since the privatisation of Nigeria’s power sector in 2013, the market has been plagued by a structural revenue gap. Electricity tariffs have not been fully cost-reflective, and the Federal Government has undertaken to fund the shortfall as subsidies. However, those subsidies have largely remained unfunded in cash terms. Although subsidy provisions have been included in federal budgets, releases against those appropriations have historically fallen below expected levels. As a result, Gencos have consistently received only a fraction of their monthly invoices. Industry data show that between May and October 2025, 25 generation companies issued invoices totaling N1.531 trillion but received only N547.37 billion, about 35.7 per cent of the amount due. The balance of N984.3 billion is expected to be covered by the government as tariff subsidy. Over time, the unpaid obligations ballooned to more than N6 trillion by the end of 2025. For Gencos, this translated into mounting receivables, difficulty servicing loans, reduced maintenance budgets and stalled expansion projects. Gas suppliers, who depend on timely payments from power producers, were also affected, worsening the cycle of supply constraints and grid instability. Against this backdrop, the N501.02 billion bonds are being positioned as the first decisive step toward breaking the cycle.

Dealing with Legacy Arrears

Speaking at the signing ceremony in Lagos, the Special Adviser on Energy to President Bola Ahmed Tinubu, Mrs. Olu Verheijen, described the programme as a “decisive reset” of the electricity market.

Expected Impact on Consumers

Acting MD of NBET, Johnson Akinnawo Under the arrangement, verified receivables for electricity supplied between February 2015 and March 2025 are being settled through negotiated agreements. Fourteen Gencos have signed Full and Final Settlement Agreements with a total negotiated value of about N827 billion. The proceeds from the Series 1 issuance will fund the first phase of settlement payments, representing approximately 50 per cent of the negotiated amounts agreed with participating generation companies. For government officials, the significance lies not only in clearing past arrears but also in restoring liquidity across the value chain. By settling debts in a structured manner, the government aims to strengthen payment certainty for gas suppliers, enable GenCos to stabilise assets and create headroom for fresh investment. To date, five Gencos, representing 14 power plants nationwide, including First Independent Power Limited (FIPL), Geregu Power Plc, Ibom Power Company Limited, Mabon Limited and the Niger Delta Power Holding Company Limited (NDPHC) owners of 10 plants, have executed settlement agreements with NBET. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, represented by the Director-General of the Debt Management Office, Ms. Patience Oniha, acknowledged that resolving legacy debts was “not optional” but critical to unlocking growth in the sector. At the heart of the reform narrative is NBET’s assertion that the bond is not a bailout but a structured capital market intervention designed to resolve legacy obligations and restore liquidity across the Nigerian Electricity Supply Industry Acting Managing Director of NBET, Mr. Johnson Akinnawo, described the successful completion of the

N501.02 billion issuance as a milestone in implementing the broader debt reduction programme. According to him, the intervention will significantly improve liquidity, enable operators to stabilise their operations and support renewed investment. The bond qualifies for Central Bank of Nigeria’s liquidity status and has secured exemption from the National Pension Commission, making it eligible for investment by Pension Fund Administrators. Officials say the structure aligns with global best practices and reflects the administration’s preference for market-based financing rather than monetary expansion. In essence, the government is attempting to solve a structural fiscal problem through capital market discipline, borrowing transparently, backed by a sovereign guarantee, instead of relying on opaque funding arrangements.

Ensuring Investor Confidence, Future Investment Growth

Perhaps the clearest sign of the bond’s potential impact came from the generation companies themselves. Group Managing Director of Sahara Power Group, Mr. Kola Adesina, which owns five power plants including Egbin Power Plant and First Independent Power Limited (One of the Gencos benefitting from the bond proceeds), said chronic indebtedness had discouraged further capital formation. With receivables piling up, companies were reluctant to commit new funds to expansion. However, he indicated that once the settlement process is completed, construction would commence on the second phase of the Egbin Power Plant, a project that could add significant megawatts to the national grid. “But last year we took the bull by the horns, based

For electricity consumers, the immediate impact for electricity consumers may be limited, as improvements in supply will depend on how quickly increased liquidity translates into operational stability across generation, transmission and distribution segments of the market. However, over time, improved payment certainty could reduce system collapses, enhance plant availability and encourage new generation projects. If coupled with transmission upgrades and distribution reforms, the reset could gradually improve reliability. Stakeholders caution, though, that subsidies without fiscal backing remain unsustainable. Energy experts argue that adding trillions annually in unfunded subsidies undermines national development and crowds out investment in other sectors. The central question is whether the N501.02 billion bond marks a true reset or merely a temporary reprieve. On one hand, it demonstrates political will, structured negotiation and capital market confidence. Fourteen Gencos have signed agreements. Pension funds and institutional investors have shown interest. A sovereign guarantee underpins the instrument. On the other hand, the electricity market’s structural revenue gap persists. Unless tariffs move toward cost-reflectivity or subsidies are fully funded, fresh arrears could emerge. Yet even critics concede that doing nothing was not an option. Without intervention, financial distress in the value chain could have worsened, leading to reduced generation, higher risk of grid collapse and further erosion of investor confidence. However, while the bond alone will not resolve all structural challenges in Nigeria’s electricity market, it represents a decisive step toward restoring financial discipline, resolving legacy obligations and rebuilding investor confidence in the sector. For the administration, it’s a new way thinking!

FRIday march 13, 2026 • T H i s d ay

NEWSxtra

Bandits Invade Community, Abduct Mother, Two Children in Kwara ECWA Churches express concern over rising insecurity

Hammed Shittu in Ilorin

About five suspected bandits have reportedly invaded Ahun village in Ifelodun Local Government Area of Kwara State, kidnapping a mother and her two children. The incident, it was gathered, happened on Wednesday night when the people of the town were said to be preparing to for their sleep. This came as the Evangelical Church of West African(ECWA) churches in Kwara state have expressed deep concern over the reported cases of insecurity

especially in the Kwara South senatorial district. The kidnapped woman, it was learnt, happened to be the wife of the son to the driver of the traditional ruler of OroAgo, popularly referred to as Baba Segun. In their getaway bid, the assailants matchetted the victim’s mother-inlaw, also known as mama Segun. According to eyewitness accounts, the assailants arrived at the village at 9 p.m, shooting sporadically to scare “uninvited guests.” The operation that lasted barely 40 minutes, however, prompted

Kosoko Ruling House Challenges Oloja Nomination Process Wale Igbintade

The Akinsanya Olojo Ruling House of the Kosoko Royal Family has taken legal action to assert its exclusive right to nominate the next Oloja of Lagos, claiming that Prince Abiola Olojo-Kosoko is the legitimate heir. The case, LD/ 14537GCMW/2026, currently before the Lagos Division of the High Court,

CHANGE OF NAME

I, formerly known and addressed as MISS FELICIA EBI OMINYI. That I now wish to be known and addressed as MRS FELICIA EBI AKINTOKE, That all documents containing my former names FELICIA EBI OMINYI remain valid. The general public should please take note.

I, formerly known and addressed as MISS AGBAJE MARIAM BISOLA, now wish to be known and addressed as MRS SHEHU MARIAM BISOLA. All documents remain valid. The general public should please take note.

I, formerly known, called, and addressed as MISS OGBUEGHU CHINWENDU HADASSAH PATIENCE, now wish to be known, called, and addressed as MRS CHINWENDU OBINNA OSUJI. All documents bearing my former name remain valid. The Ikuru Town Host Community Development Trust, University of Port Harcourt and general public should please take note.

I, formerly known and addressed as ALOWONLE KABIRAT OMOWUNMI, now wish to be known and addressed as TIJANI KABIRAT OMOWUNMI. All former documents remain valid. The general public should please take note. I, formerly known and addressed as FABUNMI GOLD ADEIFE, now wish to be known and addressed as ADEBISI ALEEM ADEBOWALE. All former documents remain valid. The general public should please take note.

I, formerly known and addressed as DANNY MICHAEL, now wish to be known and addressed as EHIGIE DANNY GABRIEL. All former documents remain valid. The general public should please take note.

seeks judicial recognition of Prince Abiola Olojo-Kosoko as the rightful nominee for the stool. The claimants cite the officially recognised traditions of the Akinsanya Olojo Ruling House and a 1983 registered declaration affirming their exclusive right to produce the candidate. The dispute followed a 3rd March 2026 letter from the Lagos Island Local Government to Alhaja (Chief) Mutiat Abimbola Ashabi Alli-Balogun, Head of the Kosoko Royal Family, requesting the nomination of a preferred candidate between Prince AbdulRafiu Babajide Akanni Kosoko and Prince Mukaila Olanrewaju Kosoko. The request referenced a prior communication from the Lagos State Ministry of Justice.

the villagers to attempt leaving en-masse on Thursday. Sensing this, another source, a member of the local vigilance group, told our reporter that the traditional ruler of

Oro-Ago ruled that no one should leave for that sake. According to the local security personnel (names withheld), the monarch was heard to have asked: “If they all

anybody out of Ahun and Oro-Ago to go. An Ilorin-based family member of Baba Segun commended the local vigilance in the area for their bravery during the encounter.

INEC Calls for Grassroots Mobilisation to Boost Voter Participation in Lagos Funmi Ogundare

The Resident Electoral Commissioner ( REC) for the Independent National Electoral Commission ( INEC) in Lagos State, Prof. Ayobami Salami, yesterday called on civic, religious, and community leaders to actively mobilise citizens to participate peacefully in the electoral process, stressing that voter registration and participation are key responsibilities of every Nigerian. He made the call at a civic literacy town-hall workshop organised by Yiaga Africa in partnership with Springwell Development Initiative and

National Endowment for Democracy (NED) with the theme: ‘Youth Power, Our Voice: Enhancing Civic Literacy and Voter Participation in Lagos State’. Salami, who was represented by its Head of Public Affairs and Protocol, Mrs. Esther Emeh, emphasised the role of civic leaders in promoting citizen participation in elections, saying that across different sectors, they must encourage the people to register and vote. According to him, civic engagement remains crucial to the success of Nigeria’s democratic process, adding

that every individual plays a leadership role within their community. “We are all leaders in our own way. Whether in the home, the church, mosque, workplace, or within civil society organisations, we all have a responsibility to ensure that the electoral process is successful,” he said. He explained that opinion leaders such as religious leaders, community heads, NGO operators, and professionals have significant influence over public perception and should therefore use their platforms to encourage voter education and participation.

Salami also warned against apathy among citizens, noting that refusing to register or vote would not solve the nation’s challenges. “The solution is not to say ‘I will not vote’ or ‘I will not register’. As citizens, we should influence others positively and encourage them to participate in the voter registration and electoral process,” he added. The INEC official further disclosed that the commission had expanded the second phase of the Continuous Voter Registration (CVR) exercise to special locations to make the process more accessible to citizens.

RMB Latitudes Art Fair Selects Nigeria for 2026 Focus Programme

Nume Ekeghe

RMB Latitudes Art Fair has announced Nigeria as the country for its 2026 International Focus programme, an initiative that annually spotlights a different African country through exhibitions and collaborations aimed at strengthening cultural exchange across the continent. The programme will commence with a curated exhibition opening on March 26, 2026 at Yenwa Gallery, marking the first phase of a cross-continental project connecting Nigeria and Southern Africa ahead of the fair in Johannesburg this May. Presented in partnership with Yenwa Gallery, the programme will feature a selection of contemporary Nigerian artists whose works will first be showcased in Lagos and later presented within the

Nigeria Pavilion at the fair, scheduled to hold from May 22 to 24, 2026 at Shepstone Gardens. Nigeria Focus forms part of the fair’s expanding International Focus programme, which creates opportunities for artists, galleries and cultural practitioners across Africa to connect with collectors, curators and institutions through in-country exhibitions and

“Following a report received by Miyetti Allah Cattle Breeders Association Konduga at the Konduga Police Division, that on March 10, 2026, at about 2230hrs, suspected gunmen, riding on five motorcycles, invaded the settlement. “Preliminary investigations revealed that during the attack, Ahmadu Baida, 40, sustained fatal gunshot injuries, while Mohammadu Baida, 30, sustained a gunshot wound on his left leg. The attackers also rustled about 1,400 sheep belonging to the herdsmen. Upon receipt of the report, a combined team of the police, military, and other security stakeholders, including the Civilian Joint Task Force (CJTF

presentations at the fair. “Initiatives like the International Focus programme allow RMB Latitudes Art Fair to engage meaningfully with artists and cultural communities across Africa,” said Co-founder of Latitudes, Lucy MacGarry. “Nigeria Focus creates an opportunity to build lasting relationships between artists, collectors and institutions across our regions while bringing new

perspectives into the Fair.” Chief Executive Officer of Rand Merchant Bank Nigeria, Bayo Ajayi, said the initiative aligns with the bank’s commitment to supporting platforms that strengthen Africa’s creative economy. “At RMB we are committed to supporting platforms that strengthen Africa’s creative economy and connect cultural communities across the continent,” he said.”

Chairman: Nobody was Attacked at Kosofe LG

The Chairman of Kosofe Local Government Area, Mr. Moyo Ogunlewe, has strongly debunked the allegation that a journalist with MITV, Habeeb Adejobi, was attacked within the premises of the council secretariat in Lagos on Wednesday.

Boko Haram Terrorists Kill Herder, Rustle 1,400 Sheep in Borno The Borno State Police Command has confirmed the killing of a herder and the rustling of 1,400 sheep by Boko Haram terrorists when they attacked a community in Konduga Local Government Area of the state. The state Command’s spokesman, Nahum Kenneth Daso, revealed in a statement that the incident took place in Wuturo village, a nomadic settlement near Konduga town. “The Borno State Police Command condemned the recent attack on a nomadic settlement at Wuturo, Konduga Local Government Area, allegedly carried out by suspected Boko Haram/ ISWAP terrorists.

leave now, who will I rule over?” To this effect, the traditional ruler was said to have also directed the military personnel in Oro-Ago not to allow any vehicle conveying

and local hunters, led by the Divisional Police Officer of Konduga Police State, swiftly mobilised to the scene. “The victims were evacuated to the hospital, where Ahmadu Baida was certified dead on arrival by a medical doctor, while the injured victim is currently receiving treatment and responding positively,” he said. The state Commissioner of Police, Naziru Abdulmajid, condemned the heinous attack and commiserated with the family of the deceased, assuring residents of the area of the Command’s unwavering commitment to safeguarding lives and property across the state.

Ogunlewe, who was reacting to some online reports that one Adejobi was assaulted while trying the cover the screening and swearing in of supervisory Councilors for the local government was ongoing, said that he was the one that spotted the cameraman, when he walked into the premises and set up his camera. According him, he was, therefore, surprised to hear that a man he took to the station himself claimed to be assaulted by his boys. He said that it was embarrassing to think the son of a former Senator, Minister, and a political leader, like Senator Adeseye Ogunlewe would supervise the beating of a journalist. “I just saw a man setting up a camera in the premises and asked where he was from. He said he came from a TV station. He had no identification card and had nothing to show he was a genuine journalist. He produced a piece of paper showing he is from Arise TV. I was surprised to read that he is now from MITV”, he said. Ogunlewe, further said

in a statement that his opponents were behind the mischief, saying the person arrested within the secretariat was taking to Ogudu police station for questioning. He said: “ Adejobi claimed to come from Arise Television but Arise said nobody bears such name. He claimed to have been sent by one Samuel. “We took him to Ogudu police station when we caught him setting up camera in the local government secretariat to give a statement because he was unable to produce a statement or ID card. “What happened was linked to an incident at ACME many months ago and he was sent by our opponents to come and embarrass us. Nobody was attacked in our local government. My political opponents are at work.” Also speaking, a senior staff at the local government said that the DPO of the Ogudu Police Station and the Area Commander asked the “journalist” to write a statement about the assault but he was unable to present a statement to support his claim.

FRIDAY, MARCH 13, 2026 • T H I S D AY

BACK PAGE CONTINUATION DIPLOMATIC POSTINGS: AGAIN, TINUBU PLAYS THE ETHNIC CARD

signments are converted to political patronages and handed to party cheerleaders, full-time housewives of cronies and mealy-mouthed weasels like a certain Reno Omokri. What a calamity!

DANGOTE REFINERY AND SHOPRITE.

I asked AI why fuel is scarce and expensive in Nigeria despite Dangote Refinery still functioning. AI answers me thus: Dangote Refinery is operating below full 2026 capacity due to insufficient local crude oil supply forcing reliance on expensive crude oil imports. What more can we add, than to wonder why the federal government through the NNPCL has refused to work out a direct crude oil supply deal with Dangote Refinery? It is brain-bursting to think that Dangote imports crude oil while NNPCL also imports refined petroleum products. Now with the global energy crisis occasioned by the US-Israel-Iran war looming, and Nigerians being among the poorest in the world already, millions more will be pushed deeper into the abyss of poverty. But the point is that Petrol can be cheaper in Nigeria (without disrupting the market) if we had a government that cares a little about Nigerians.

A BUMBLING PRESIDENCY: In recalling the envoys in September 2023, just four months after he took office, President Tinubu told the world that it was a drive to imbue world class efficiency and quality in the delivery of Nigeria’s foreign service operations. But as evident today, he was merely shooting the breeze. Tinubu’s newly appointed diplomats are among the lowest calibre ever appointed. Hardly any man or woman of stature is on the list. Therefore, the degrading of Nigeria’s missions for over two years wasn’t dictated by good faith, rather diplomats conjecture it was an attempt to lash out at his predecessor, Buhari who was believed not to have supported his presidential quest. But in the pursuit of vendetta, President Tinubu virtually shut down Nigerian missions for two and half years. Many of Nigeria’s outposts are reportedly in decrepit states, occasioned by poor funding and nonchalance of the home government. For about two and half years of Tinubu’s government many missions remained nonfunctional and many bilateral agreements couldn’t be pursued as presidents deal only with accredited envoys and never with officers of the Foreign Affairs Ministry.

AN INSOUCIANT AND UNSERIOUS GOVERNMENT: The matter of rash disbandment of Nigeria’s missions abroad without a thought about the tedious process of appointing new ones is a troubling signpost of this administration. Ad-hoc-ism, knee-jack actions and utter lack of rigour required for statecraft have

LAST LINE:

EXIT OF SHOPRITE:

President Tinubu become the hallmarks of the Tinubu presidency.

IN THE FINAL ANALYSIS: There seems to be no end to the governance woes Nigerians are locked down in under the

Tinubu incumbency. As this column has noted time and again, this presidency is devoid of quality minds required to run a country, especially of this size. And it boils down to that little matter of MERIT!

AI says the giant South African retailer made it’s final exit from Nigeria early 2026 for reasons of rapid naira devaluation, acute foreign exchange shortages, high operating costs and shrinking consumer purchasing power. While this column is minded to say good riddance to the retailers who added little value to the economy, the truth is that many multinationals have folded up or left Nigeria’s shores since APC came to power in 2015. It means that APC is anti-business, it means that Nigeria’s economy has contracted vastly and the so-called economic reform, especially by President Tinubu, is not working. The critical economic indicators continue to read negative. Let’s shout it out: TINUBUNOMICS IS NOT WORKING DAMN! ###

RE-EXAMINING STEVE OSUJI’S ‘BRICKLAYER’ THESIS ON GOVERNOR OTTI

expenditure lines, and revenue data. They are the very tools analysts use to evaluate government performance. So the claim that governance is taking place without data is factually weak. Moreover, development outcomes cannot be measured exclusively through Human Development Index calculations every few months. HDI is a long-cycle indicator, not a quarterly scorecard. It takes years of policy interventions to shift such metrics. Demanding HDI proof after barely two years of governance reflects impatience, not analytical sophistication.

•The False Dichotomy: Data vs Development

Osuji presents governance as a binary choice between infrastructure and statistics. This is analytically flawed. Modern development theory recognizes that physical infrastructure is the enabling layer of economic productivity. Transport networks enable commerce. Electricity powers manufacturing. Urban renewal attracts investment. Without these foundations, the statistical indicators Osuji demands cannot improve. In other words, infrastructure is not the opposite of data-driven governance. It is the precondition for it. Calling that “bricklaying” misunderstands development economics.

•Journalism is Not Immunity From Criticism

Osuji also invokes a popular newsroom aphorism: “No question is stupid.” That principle protects journalists from censorship, not from criticism. Journalists are free to ask questions. Public officials are equally free to challenge poorly framed questions. That exchange — even when tense — is part of democratic dialogue. Portraying disagreement as a “public assault on journalism” inflates a routine exchange into a moral crisis. It is theatre.

Governor Otti Osuji’s most constructive suggestion is the creation of a strong statistical bureau. That idea is sound. But presenting it as though Abia operates in a data vacuum is misleading. Many Nigerian states already operate statistical agencies that feed into national data systems, including the National Bureau of Statistics. The real challenge is not their absence but improving data quality and integration. Ironically, the economic reforms and administrative restructuring underway in Abia are precisely the kinds of governance shifts that create the conditions for stronger institutional data systems.

• The Irony of the “Statistics • The Bigger Picture Bureau” Proposal Osuji’s column ultimately illustrates a

Steve Osuji broader pattern in Nigerian commentary. Infrastructure success creates an uncomfortable reality for critics. When roads are visible, power supply improves, salaries are paid, and urban renewal is evident, critics shift the argument from “nothing is happening” to “where is the data?” But governance is not a seminar. It is a process of rebuilding systems that have decayed for decades. Abia’s development journey did not begin in 2023, and its statistical transformation will not end in 2025.

•Conclusion

Steve Osuji is right about one thing: modern governance must increasingly rely on robust data systems. But his attempt to

reduce Governor Alex Otti’s governance to “bricklaying” ignores the fundamental truth that development begins with foundations. Roads, power infrastructure, and institutional reform are not the absence of progress. They are its beginning. If anything, the debate sparked by that media chat demonstrates something healthy: Abia’s governance is now being discussed with intensity. And that, in itself, is a sign that the state has moved from stagnation to serious public engagement. The real test will not be rhetorical columns. It will be the continuing transformation of Abia’s economy and institutions. And on that score, the evidence is still unfolding. • Prof. Eke is of the University of Abuja

THISDAY • FRIDAY, MARCH 13, 2026

FRIDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

South Korea Humble D’Tigress in FIBA World Cup Qualifiers in France Igoche Mark urges the seven-time African champions to stay focused

Duro Ikhazuagbe Nigeria’s senior national women’s basketball team, D’Tigress, were humbled 70-66 by South Korea in their second Group A fixture of the ongoing 2026 FIBA Women’s World Cup qualification tournament

in Lyon-Villeurbanne, France on Thursday. The seven-time Afrobasket champions who were also quarterfinalists at the last 2024 Olympic Games women’s basketball event, struggled with fouls and an off-day for key players.

The Nigerian team was a complete reverse of the squad that hammered

Colombia 70-37 in their opening match of the qualifiers in Lyon.

This, the South Koreans capitalised upon to snatch victory. With near-

Team Zion Wins Catholic Golfers’ Charity Kitty in Support of St Kizito Project Duro Ikhazuagbe Team Zion Golfers made up of Lynda Obieze, Bidemi Ojo, Fred Appah and Jimoh Ogundare with a combined handicap of 4, amassed a Gross score of 61 and a net score of 57 to emerge champions of the Catholic Golfers Association Charity Golf Kitty – Swing to Serve In Love that held at the Ikeja Golf Club on Wednesday morning. The one-day tournament was organised to support St Kizito Wellness Project, founded by Rev Father Michael Olofinlade. Team Lasgidi Banditos that consist of Abiola Adewusi, Lynda Onwuazo, Femi Ajala and Omobola Omofaiye, carded Gross Score of 66 with their combined handicap of 9 and also had a Net score of 57 to finish second. In the third position was Team Ikeja Club made up of Amusa Kilani, Muritala Rasaki, Mojeed Aberuagba and Anthony Akogwu who had Gross Score 61, Combined Handicap of 3 Net Score of 58. Speaking after the kitty, Chairman of the Competition Committee of the Catholic Golfers, Mrs. Candy Agu, disclosed that the tournament in support of the St Kizito Wellness Project is to provide support for priests, especially as it relates to their mental health. It was played in the Texas Scramble format, featuring a shotgun start to ensure an engaging and inclusive experience for participants of all skill levels. She stressed that the Catholic Golfers Association use the game as a vehicle to evangelise. “Today’s event meets one of

our objectives, which is charity. By this event, we are trying to draw people’s attention to charitable causes: wellness of clergies, the consecrated and religious people. In all, we were able to realize about N7million out of which after all expenses, we should be able to hand over close to N5million to support the St. Kizito Wellness Project of our Rev. Father Michael Olofinlade,” observed Mrs Agu. Founder of the St. Kizito Wellness Project, and Convener of Swing to Serve with Love, Rev Fr Michael Olofinlade, while fielding questions from sports journalists shortly before prize presentation to winners, expressed joy at the turnout of over 100 golfers at the Kitty aimed to support his project. He revealed that he was inspired to start the wellness project after his unfortunate kidnapping experience in Ekiti State in 2023. He recalled the torture and indignity he suffered in the hands of the kidnappers and the long road to recovery mentally and physically. “I went to play golf and after the game on my way home, I was kidnapped. I spent four days and four nights with the kidnappers in the bushes all the way from Ekiti to Kwara State. It was a harrowing experience. I was fortunate to survive it and be here today to tell the story. So many didn’t survive it even after ransom were paid. Some who survived have broken down and mentally not able to recover. It is situations like this that we are trying to see how our St Kizito Wellness Project can be of help,” recalled the Rev Father.

D’Tigress Head Coach, Rena Wakama, will need to rediscover their winning magic after the seventime African champions were humbled by South Korea at the ongoing FIBA World Cup qualifiers in Lyon-Villeurbanne, France...on Thursday

perfect superior three-point shootings, Korea led 36-32 at halftime. Scores in all the four quarters read like this: Q1 16-20, Q2 16-16, Q3 19-22, and Q4 09-19, leaving Rena Wakama and her D’Tigress red-faced with 60-77 defeat at the sound of the final buzzer inside the Astroballe Arena in Lyon. It is however not over yet as Coach Wakama and her D’Tigress will look to bounce back in their next fixtures against Philippines, France, and Germany. In his reaction to the defeat of the Nigerian ladies at the qualifiers, Igoche Mark, Promoter of the Mark D’ Ball Basketball Championship, urged the team to stay focused. “Don’t let this one setback bring you down. As I always say, ‘Champions aren’t made in the wins, they’re made in the losses.’ You’ve got this! You’ve shown your strength against Colombia, and now it’s time to regroup and refocus,” stressed Mark who is aiming to take over from Musa Kida as the next president of the Nigerian Basketball Federation (NBBF). Igoche added: “Fall down seven times, stand up eight times. Let’s use this as fuel to propel us forward. You’re not just playing for Nigeria, you’re playing for the future of Nigerian basketball. So, dust yourselves up and let’s get ready for the next one. “ Mark insisted that the “greatest glory in living lies not in never falling, but in rising every time we fall.’ Let’s rise, D’Tigress!”

DR Congo List Players at the Centre of Nigeria’s Petition for Playoffs in Mexico Matheu Epolo, one of the three players at the centre of Nigeria’s petition to FIFA to disqualify DR Congo for fielding them against the Super Eagles in the 2026 World Cup African final playoff last November has been listed for the mini Interconfederation tournament in Mexico. The other two players in Nigeria’s petition: Michel-Ange Balikwisha and Mario Stroeykens were not named

in the squad to the InterConfederation playoffs in Mexico but several others like Aaron Wan-Bissaka, Axel Tuanzebe, Arthur Masuaku, Lionel Mpasi, Samuel Moutoussamy, Noah Sadiki, Ngal’ayel Mukau, Nathanaël Mbuku, and Cédric Bakambu also named in the petition as not eligible to play in the Morocco final game are in the DR Congo team released yesterday. Even as FIFA is yet to take a decision on Nigeria’s petition barely days to the kickoff in Mexico, the Congolese have taken the silence of the world football body as victory and have gone ahead to include Epolo

and the others in their final squad to the playoffs where the winners of the final two tickets to the Mundial will emerge. DR Congo will face the winner of the play-off between Jamaica and New Caledonia in Guadalajara, Mexico, on March 31, 2026, in a match that could send the Central African nation back to the World Cup for the first time in 52 years. But the squad announced by Coach Sébastien Desabre has drawn attention because many of the players whose eligibility Nigeria questioned after last November’s African play-off defeat have again been included.

EUROPA LEAGUE Bologna 1-1 AS Roma Lille 0-1 Aston Villa Pana’kos 1-0 Betis Stuttgart 1-2 FC Porto

CONFERENCE LEAGUE AZ Alkmaar 2-1 Sp’Prague Lech Poznan 1-3 Shakhtar Rijeka 1-2 Strasbourg Samsunspor 1-3 Vallecanno

After the Super Eagles lost out in the penalty shootouts after the final deadlocked 1-1, Nigeria protested

Lagos Schools Set for 3rd Edition of The Athletics School Games Kunle Adewale

SWINGING TO SERVE WITH LOVE...

L-R: Vice Captain, Ikeja Golf Club, Mr. Segun Odunuga; Convener of Swing to Serve with Love, Rev Fr. Michael Olofinlade; Vice Lady Captain of Ikeja Golf Club, Lady Dupe Oyeduntan; and Rev Fr. Peter Oshomah of Benin Archdiocese, shortly before tee-off of the tournament organised in support of the St Kizito Wellness Project for the Mental Health of Priests and Religious leaders held at the Ikeja Golf Club on Wednesday

Over 20 schools in Lagos will be participating in the third edition of The Athletics School Games (TASG) slated the sports complex of Yaba College of Technology from March 20-21. The two-day event will witness schools compete in sprints, middledistance races, and field events. Since its inception in 2024, TASG

has grown into one of Nigeria’s most credible grassroots platforms for track and field. Initiated by Dr. Seun Akinbohun and registered with World Athletics, the annual competition was designed to nurture talent among children aged 4–16. What makes this edition unique is its expanded format and sharper focus on athlete development. For the first time, primary school

events will be separated from secondary school contests, allowing for more races, improved scheduling, and better recovery time for athletes. Technical officiating, timing systems, and event coordination have also been upgraded to meet higher standards. Beyond competition, TASG is a platform for talent discovery, giving young athletes exposure and pathways to future opportunities in athletics.

T H I S D AY • FRIDAY, MARCH 13, 2026

Price: N400

BACK PAGE LEAD PHOTOGRAPH

SGOBA’S ANNUAL DISTINGUISHED ALUMNI LECTURE...

L-R: Chairman of Proshare Nigeria, Mr. Olufemi Awoyemi; the Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismark Rewane; the Governor, Central Bank of Nigeria (CBN), Mr, Olayemi Cardoso; the President, St. Gregory’s College Old Boys’ Association (SGOBA), Mr. Francis Kudayah; the Chief Executive Officer, CFG Advisory, Mr. Tilewa Adebajo; and the Publisher/CEO of Business Day Newspaper, Mr. Frank Aigbogun; after Mr. Cardoso delivered the Annual Distinguished Alumni Lecture of the SGOBA, in Lagos, on Thursday

STEVEOSUJI EXPRESSO

Diplomatic Postings: Again, Tinubu Plays The Ethnic Card

epotism, cronyism, ethnicism, discrimination, marginalisation and disdain for merit have long become the hallmark of the Bola Tinubu presidency. At every turn, with each opportunity to exhibit statesmanship, Tinubu has fallen short. He has shown over and over again, since May 2023, that he’s a tribal bigot. He spares no thoughts for inclusiveness in a diverse and multi-ethnic country. He seems to care no hoot about the the harmony and abiding unity of Nigeria. Never before has any Nigerian president - not even the military rulers - shown such blindness to equity and the unity and oneness of Nigeria.

DIPLOMATIC POSTINGS: YORUBA GET THE PLUM MISSIONS: In character with all previous appointments, the current diplomatic postings have proved Tinubu true to type. Most of the super missions, all strategic seats of power and all the civilised places have been vired to the Yoruba ethnic group. Some veteran diplomats have noted that never before in Nigeria’s history were the super missions alloted to one zone of the country.

President Bola Tinubu These special posts are the US (Washington DC), UN Permanent Representative (New York), United Kingdom (London), France (Paris), Austria (Vienna),

Germany and Canada. Out of these seven top diplomatic spots, all but the UK have been assigned to Yoruba thus: Kayode Are (US), Jimoh Ibrahim (UN/NY), Ayodele Oke (France), Florence Ajimobi (Austria), Femi Fani Kayode (Germany), Isaac Folorunso Adegoke (Canada). But beyond these prime missions, all the most civilised places in Western Europe are also reserved for Yoruba: Switzerland (Akande Wahab Adekola), Italy (Abimbola Fashola), Belgium (Ayeni Adebayo Emmanuel), Sweden (Lola Akande), Australia (Femi Pedro), Portugal (Angela Adebayo), and even Japan (Olumilua Ayotunwa), and Russia (Joseph Sola Iji). Take out these countries and note that not much is left. Tinubu has heedlessly pushed a winner takes all stance since he came to power. What’s at play here is what Yoruba call ‘iwa wobiya,’ an expression of utter greed and selfishness. A total lack of sensitivity to others in the sharing of commonwealth. Nigeria has never experienced this kind of prebendal tribalism in her federal arrangement. There was always a consideration for fairness and equity for all zones and regions.

DISREGARD FOR MERIT, IT’S PATRONAGE AND NEPOTISM ALL THE WAY: The Tinubu presidency must be the most unenlightened and the most provincial ever. It has no regard for merit or intellect. It feels like a gathering of an ethnic cabal. This is rather shocking considering that the Yoruba are supposed to be among the most enlightened races to be found anywhere. If Yoruba must grab all the plush capitals, you would expect the president and his team would go out of his way to find the best minds for these centres of learning and culture. Or at best, seasoned diplomats would be posted in the absence of critical Yoruba minds. No. Who do we have heading these historic cities: renegades, house wives and hangers on! What in goodness’ name is Jimoh Ibrahim doing at the UN in New York? A less than stable Fani Kayode is our man in Berlin, Germany! This is just to mention only two examples. It’s a tragedy that the most critical national asContinued on page 38

Re-examining Steve Osuji’s ‘Bricklayer’Thesis on Governor Otti Chukwuemeka Ifegwu Eke

ublic commentary is the lifeblood of democracy. But commentary that claims intellectual superiority must itself survive scrutiny. Steve Osuji’s essay titled “Governor Otti: Of Bricklaying and Journalism” attempts to present itself as a thoughtful defence of journalism and a critique of Governor Alex Otti. Unfortunately, the piece collapses under its own contradictions. Rather than interrogate governance with discipline, it drifts into theatrical commentary and rhetorical exaggeration.

R I G H T O F R E P LY

ing commercial city like Aba, describing him as a bricklayer is not analysis — it is literary theatrics. Infrastructure development is not primitive governance. It is the foundation of economic recovery. Roads, electricity, urban renewal, and transport networks are the physical prerequisites for the very economic and social data Osuji claims to want measured. Without infrastructure, data becomes sterile abstraction.

• The Curious Logic of the • The Data Argument is SuColumn Osuji commits an unusual intellectual perficial

•. The Manufactured Outrage

Osuji’s central grievance is that Governor Otti responded sharply to a journalist’s question about measurable impact. But the columnist carefully omits context. The question posed was not a routine inquiry about governance metrics. It was framed as

value. In political communication, tone and framing matter. When a journalist asks a question that presupposes failure despite visible outcomes, it inevitably becomes a political argument disguised as a question. In such situations, leaders are entitled to challenge the framing. That is not hostility to journalism. It is disagreement with narrative framing.

Governor Alex Otti a provocative challenge implying that the visible changes in Abia have no measurable

manoeuvre. He spends several paragraphs praising Otti as: a “shining star”; a governor who “hit the ground running” ; a leader who has “rendered many governors shamefaced”. Yet the same article concludes that this same governor is merely a “bricklayer.” The contradiction is glaring. If a governor has delivered transformational infrastructure and revived a previously decay-

Osuji suggests that no governor in Nigeria can stand data and that Otti governs without measurable metrics. But this sweeping claim ignores several realities. Abia State already publishes quarterly budget implementation reports and fiscal updates. These documents contain programme classifications, capital Continued on page 38

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