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NEWS

FT AFRICA SUMMIT IN LONDON...

Aliko Dangote, President/Chief Executive of Dangote Group (right) in a conversation with David Pilling (right), the Africa’s editor for Financial Times during the FT Africa Summit holding in London on Wednesday

Petrol Supply Crashes 23% as Imports Drop 30%, Local Receipts Fall 21% Dangote refinery hits 106% production capacity in September Nigeria supplies 80.4% of feedstock intake by local facilities Indigenous refiners get 618,000 bpd oil, down 9% Diesel supply slumps to lowest level in 13 months Emmanuel Addeh in Abuja Nigeria’s daily petrol supply fell 23 per cent in September despite the Dangote Petroleum Refinery operating above its installed capacity, as declining domestic deliveries and imports coincided with higher petrol prices, which exceeded N1,400 per litre in some cities. The September 2026 factsheet of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) released yesterday showed that total petrol receipts dropped from 50.5 million litres per day in August to 38.7 million litres, although consumption rose 7 per cent to 44.4 million litres daily. Besides, local petrol receipts declined 21 per cent, from 35.9 million litres to 28.5 million litres per day, while imports fell 30 per cent, from 14.6 million litres to 10.2 million litres. The figures mean that the Nigerian market received 11.8 million fewer litres of petrol daily in September than in August. The decline occurred despite a 13 per cent increase in petrol production at the Dangote refinery, which raised its average daily output from 41.94 million litres in August to 47.22 million litres in September. The refinery’s average capacity utilisation also rose from 105.21 per cent to 105.98 per cent, above its installed capacity of 650,000 barrels per day. Yet, the volume of petrol it supplied to the

domestic market fell by about a fifth, while exports increased. According to the document, Dangote supplied an average of 28.5 million litres of petrol daily to the domestic market in September, compared with 10.2 million litres from imports. Its recorded domestic deliveries were therefore almost 2.8 times the volume of imported petrol. Also, in August, domestic deliveries from the refinery stood at 35.87 million litres per day, against imports of 14.6 million litres. Although local refining remained the dominant source, its share of total petrol receipts rose from 71 per cent in August to about 74 per cent in September because imports declined more sharply. The refinery exported 15.47 million litres of petrol daily in September, up 59 per cent from 9.73 million litres in August. It also added 3.25 million litres per day to its petrol stocks, closing the month with 366.2 million litres, compared with 360.4 million litres at the end of August. The figures showed that higher production did not translate into increased domestic deliveries. While output increased, local supplies fell as exports rose and stocks accumulated. The fall in market receipts came amid high fuel retail prices. The NMDPRA’s indicative petrol price stood at N1,371.01 per litre in Lagos, N1,420.01 in Abuja,

N1,447.75 in Kano and N1,464.75 in Maiduguri. The highest actual price recorded in the surveyed centres was N1,445 per litre in Abuja, while the lowest was N1,293.75 in Lagos. Beyond finished products, the report showed that domestic refineries received an average of 618,000 barrels of crude oil daily in September, down 9 per cent from 681,000 barrels per day in August. Nevertheless, Dangote processed an estimated 689,000 barrels daily, about 71,000 barrels above the volume received

during the month. The regulator explained that the refinery made up the difference by drawing on its crude inventory. Its reported utilisation above 100 per cent therefore did not mean it received more crude in September. Similarly, the authority’s nine-month data showed that local refineries received 156.51 million barrels of crude between January and September. Of this, 125.85 million barrels were sourced domestically and 30.66 million barrels imported, meaning Nigerian crude accounted for 80.4 per cent of

The Lagos State High Court has granted interim preservative orders of Mareva injunction in favour of United Bank for Africa (UBA) Plc against Vitol SA, a Switzerland-based energy trading company, and four other shipping companies over a petroleum products diversion dispute involving $242 million. UBA alleged that Vitol wrongfully released cargoes of petroleum products consigned to the bank’s order under

the relevant bills of lading. Addressing the court, Bode Olanipekun, SAN, lead counsel to UBA, urged the judge to grant the interim preservative orders against Vitol and the other shipping companies. In her ruling, Justice K. A. Jose granted three prayers in UBA’s application, including requests to restrain the dissipation of assets and dealings in funds up to the disputed amount by Vitol SA. “Prayers 1-3 are granted as prayed against the second respondent only,”

litres, although consumption edged up from 14.3 million litres to 14.5 million litres per day. Dangote’s diesel production, however, increased 35 per cent to 24.32 million litres per day. Domestic deliveries fell from 12.37 million litres in August to 8.14 million litres in September, while exports rose 82 per cent, from 8.75 million litres to 15.91 million litres daily. The refinery ended September with 232.5 million litres of diesel in stock, against 137.2 million litres a month earlier.

Oil Firms Decry Long Tender Cycles Delaying Upstream Projects Despite Tinubu’s Directives PETAN flags double-digit bank rates, 90-day payment delays stifling capacity

Peter Uzoho Indigenous oil and gas service companies have raised alarm over long tender approval cycles and delayed payments by upstream producers, a situation that negates President Bola Tinubu’s Presidential Directives on Local Content introduced in March 2024. Service providers under the aegis of Petroleum Technology

Association of Nigeria (PETAN) also complained that high bank interest rates was hurting them, warning that the bottlenecks are stifling local capacity and slowing Nigeria’s upstream growth. They raised the concerns in Lagos at the Nigerian Association of Petroleum Explorationists, (NAPE) Pre-Conference Workshop themed “Navigating Nigeria’s Upstream Future: Exploration and Development

$242m Petroleum Dispute: Court Grants UBA Interim Order Against Vitol, Four Shipping Firms Wale Igbintade

the total intake, while imported crude represented 19.6 per cent. The supply squeeze was more pronounced in the diesel market, where daily receipts fell 40 per cent, from 14.5 million litres in August to 8.7 million litres in September, the lowest level in the 13 months covered by the regulator’s data. According to the factsheet, domestic diesel receipts dropped 39 per cent, from 13.2 million litres to 8.1 million litres daily, while imports fell 54 per cent, from 1.3 million litres to 600,000

the judge ruled. The application was brought pursuant to Order 43, Rule 1 of the High Court of Lagos State (Civil Procedure) Rules 2019 and Lagos State High Court Practice Direction No. 2 of 2019. In the substantive proceedings, UBA intends to contend that Vitol SA and the owners of the vessels are liable for alleged conversion, misrepresentation, and negligence arising from the non-delivery of the petroleum products.

The bank also cited 34 financial institutions and public agencies, including commercial banks, merchant banks, microfinance banks, Nigerian Ports Authority, and Nigeria Customs Service, in connection with the application. In an affidavit supporting the application, UBA’s Group Head of Recoveries and Remedial Management, Anthony Chilaka, stated that the bank had issued a letter of credit in favour of Vitol SA to facilitate a petroleum products transaction.

Approaches vs. Energy Security Demand.” Publicity Secretary of PETAN, Dr Joan Faluyi, who spoke on execution capacity of her members, said the blames that Nigerian service providers lack capacity ignore the financial and procurement realities they face. Faluyi said the biggest problem was cycle time, with tender approval, award and mobilisation taking years to materialise, distorting pricing and execution. Curiously, the 2024 presidential directive is meant to accelerate oil and gas contract timelines, fast--track tendering process and approvals, incentivize investments in the sector and increase Nigeria’s crude oil production, bringing to question the implementation of the policy by the Nigerian Content Development and Monitoring Board (NCDMB). Faluyi flagged procurement issues, long lead times, budget constraints and hostile financing environment where local banks lend at doubledigit rates even for one year on a five-year project, while producers demand delivery at thin margins. She cited instances where a tender quoted four years ago becomes

unexecutable due to foreign exchange shifts, price changes and geopolitical events, including situations where global shocks alter costs before mobilisation. “Our banks’ interest rates is double digit. You have a project that is five years, and they’re willing to finance one year. And these producers want you to deliver whatever service at a very small margin,” Faluyi said. “Some of them even specify your margin and say, you have to make nine percent. Someone that is producing or delivering a rig, it takes him so long to get that rig into the country? His bank is already counting. Then it takes him to mobilise, the bank is counting. Then it now takes him another 90 days in which these producers are saying they’re going to pay you whatever money they’re owing. At the end of the day, where is the profit?” She said the squeeze leaves service firms without ability to deliver, yet they are labelled as lacking capacity. She called for faster bid processing and alignment of finance and timing, noting that the same companies secure jobs outside Africa with short cycles and produce immediately.

FRIDAY, OCTOBER 23, 2026 • THISDAY

NEWS

CONFERMENT OF HONORARY FELLOWSHIP OF WEST AFRICAN COLLEGE OF PHYSICIANS ON PRESIDENT TINUBU...

L-R: National Chairman, West African College of Physicians, Nigeria Chapter, Dr. Benjamin Uzochukwu; Chairman, BoT, Dr. Sonny Kuku; President West African College of Physicians, Dr. Mamadou Mourtalla; President Bola Tinubu; and Coordinating Minister of Health and Social Welfare, Dr. Ali Pate, during the occasion of conferment of Honorary Fellowship of West African College of Physicians to President Tinubu at Presidential Villa, Abuja, yesterday PHOTO: GODWIN OMOIGUI.

BOI Targets N1.35trn Loan Disbursement in 2027, Eyes 10-year Long Term Financing for Manufacturers, MSMEs Attained N645bn disbursement in 2025, funded 25% of manufacturing GDP, 6.5% agriculture lending Dike Onwuamaeze Managing Director/Chief Executive Officer of Bank of Industry (BOI), Dr. Olasupo Olusi, has announced that the bank is targeting an annual loan disbursement of N1.35 trillion to manufacturers and operators in the Micro, Small and Medium Enterprises (MSMEs) in 2027. Olusi also said the bank was exploring various sources of capital that would enable it to grant real long-term loans

of about 10-year tenure to manufacturers and other businesses. He stated these yesterday during the “MD/CEO BOI Meeting with Media Partners.” He said the bank disbursed N645 billion in 2025, which was the highest disbursement it had ever achieved. He also elaborated on BOI’s 2025-2027 corporate strategy that was being executed in three phases. Olusi said 2025 was “our foundation year, where we put in place the

governance, the frameworks, the products and digital tools, while 2026 was the year of execution and scale, and 2027 will be the year we consolidate our results and meet our targets. He said the bank was currently at the mid-point of the strategy implementation, adding that the results so far tell that the strategy is working. He said BOI accounted for 6.5 per cent agricultural loans and 25 per cent of the manufacturing GDP.

Olusi stated, “The results so far tell us that the strategy is working. In 2025, we disbursed N645 billion, which is the highest ever disbursement by the bank. This represents a 26 per cent increase on N510 billion we disbursed in 2024. “And our financing has reached 12,500 more businesses and helped to create or support 1.6 million jobs. “We disbursed over N120 billion to women-owned businesses, which again shows how much we are committed to

Tinubu’s Reforms Addressing Fiscal Stability, Structural Weaknesses, Says Idris Minister of Information and National Orientation, Mohammed Idris, has said President Bola Tinubu’s economic reforms are aimed at addressing longstanding structural weaknesses in the economy, restoring fiscal stability, and creating a foundation for sustainable economic growth. Idris stated this in Abuja when National Convener of Women of Influence for Tinubu 2027, Hauwa Farouk Ibrahim, led a delegation of the organisation on a courtesy visit to Ministry of Information and National Orientation. The minister described the removal of fuel subsidy and the unification of the foreign exchange rate as critical policy decisions intended to stabilise the economy, improve public finances, and reposition the country for long-term development. He said the reforms were necessary to address persistent economic challenges and strengthen the capacity of the federal government, states, and local governments to finance infrastructure, essential services, and other development priorities. He explained that the measures had increased the resources available to the three tiers of government, creating opportunities for greater investment in projects and programmes that directly affect the lives of Nigerians.

Idris acknowledged that the reforms had required difficult adjustments, but maintained their long-term objectives were to strengthen the country’s economic foundations and improve prospects for future generations. He stated, “It is very, very easy and convenient to forget where we are coming from. These were difficult decisions, but they were taken in the interest of our country and the prosperity of future generations.” The minister urged members of Women of Influence for Tinubu 2027 to intensify public enlightenment at the grassroots, particularly by explaining the rationale behind the administration’s policies, the economic circumstances that necessitated them, and the opportunities they were intended to create. He stressed that effective public engagement was essential to improving citizens’ understanding of government policies and fostering constructive dialogue around the country’s economic reform programme. Idris added, “We want you to, please, influence other Nigerians so that they can understand the policies of this administration and support government as it continues its drive towards repositioning our country.” He reaffirmed the ministry’s commitment to sustained public enlightenment and engagement with organisations working to

improve citizens’ understanding of government programmes and policies. Idris also welcomed the organisation’s interest in collaborating with the ministry, accepted its request to serve as patron, and pledged to designate a focal person to facilitate continued engagement. Earlier, Ibrahim said the organisation was established to harness the influence and mobilisation capacity of Nigerian women to promote national development

and build grassroots support for President Tinubu’s administration. She disclosed that the group had commenced activities in Kano State and was expanding its reach through digital platforms and community-based initiatives aimed at engaging women and other citizens across the country. Ibrahim expressed the organisation’s readiness to work with the ministry in strengthening public enlightenment and engagement on government policies and programmes.

delivering on our strategy to enhance opportunities for gender. “We are also on track across our thematic areas. MSMEs received over 41 per cent of our 2025 funding, even against our 35 per cent target. “Youths and women received 20 per cent each against our 15 per cent and 10 per cent minimum commitment, respectively. Olusi explained, “In infrastructure, we recorded N108 billion funding, including 100 mini-grids to power businesses and households, as well as broadband internet connectivity to over 700 communities. “We also achieved our disbursement targets for climate and social financing.” He stated that the bank embarked on a number of landmark capital raising activities that enabled it to deliver its disbursement targets. The capital raising activities included a landmark deal of nearly €2 billion (Euros), raised from three international banks, and in 2026, BOI was able to get five commitments from the African Export and Import Bank for a €75 million facility to support the Pharmaceutical Value Chain (PIVAC) in Nigeria. He stated, “Together, we have done more than €2.2 billion and N274 billion in new funding for Nigerian industries. “Investors have placed their money with us because they trust our governance, our pipeline, our impact and our financial results.

“We are already advancing new capital raising engagements with quite a number of international partners, including the likes of the African Development Bank, the Agence Française de Dévelopment and also pursuing further fundraising opportunities that are available within our domestic capital markets. “We have also expanded our financing toolkits with a non-interest banking products, which will enable us to promote financial inclusion and widen the range of financing structures available for eligible businesses who have interests in non-interest banking.” The CEO recounted that in the course of the last couple of years, the bank had managed the federal government’s N200 billion grants and loans intervention programme to the enterprise sector. He said the N75 billion MSME intervention funds and N75 billion manufacturing sector funds that were disbursed by BOI had delivered results. Olusi said, “We delivered more than 85 per cent of all these funds, reaching 957,400 grant beneficiaries, 9,000 MSMEs, and 104 large manufacturers across the country. “Through our Rural Area Program Investment for Development (RAPID) program, we have disbursed over N6.5 billion to nearly 1,000 rural enterprises across all 36 states and FCT of the country, supporting more than 8,000 jobs.

Oyetola Inaugurates NIMBEX Committee, Eyes Maritime Investment Boom

Kasim Sumaina in Abuja

Minister of Marine and Blue Economy, Adegboyega Oyetola, on Wednesday inaugurated a committee to organise the Nigeria Marine and Blue Economy Expo (NIMBEX), in a strategic move to position Nigeria as a leading destination for maritime investment, innovation, and trade in Africa. The expo is expected to bring together policymakers, international investors, industry leaders, and technology innovators to support the federal government’s efforts to unlock the vast economic potential of Nigeria’s marine and blue economy. Oyetola said the initiative would provide a platform to translate the

country’s maritime advantages into tangible investment opportunities, economic growth, and job creation. He stated that Nigeria’s marine and blue economy held enormous potential to drive economic diversification, attract investment, and create sustainable employment. NIMBEX, according to him, will provide a strategic platform to bring together the capital, expertise, and partnerships needed to unlock these opportunities. Oyetola, who was represented at the inauguration by Permanent Secretary, Federal Ministry of Marine and Blue Economy, Mrs Fatima Mahmood, said the expo would help bridge the gap between Nigeria’s vast maritime resources and the investments required to

harness them for national development. The minister, in a statement issued by his Special Adviser, Bolaji Akinola, said, “With an 853-kilometre coastline, more than 10,000 kilometres of navigable inland waterways spanning 28 states, and a substantial domestic market, Nigeria possesses significant assets to strengthen its position in regional and international maritime trade.” The NIMBEX Organising Committee is chaired by Mr. Husseini Shettima, Director of Marine Conservation, Innovation and Technology at the Federal Ministry of Marine and Blue Economy. Hajia Kalthum Ibrahim, Director of Planning, Research and Statistics in the ministry, and Professor Busayo

Fakinlede, Senior Special Assistant to President Bola Tinubu on Marine and Blue Economy, will serve as co-chairpersons. The minister’s Special Adviser, Dr. Bolaji Akinola, will serve as a member of the committee and Chief Operating Officer of the expo. Other members include representatives of the ministry’s technical departments and key agencies and institutions across the maritime sector, including Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency, Nigerian Ports Economic Regulatory Agency, National Inland Waterways Authority, and Council for the Regulation of Freight Forwarding in Nigeria.

THISDAY • FRIDAY, OCTOBER 23, 2026

NEWS

MNT-HALAN’S EGX LISTING CEREMONY...

L-R: Chairman Silverbacks Holdings, Ibrahim Sagna; Chair, AT50 Index, Gbite Oduneye; Member, AT50 Index Capital Markets Readiness Council (CMRC), Karima El Hakim; CEO MNT Halan, Mounir Nakhla; Chairman, Egyptian Exchange (EGX), Omar Radwan; and Director Financial Regulatory Authority Sandbox, Ahmed Khalifa, during the MNT-Halan’s EGX listing ceremony as the company moves from AT50 to Egypt’s public markets on Tuesday

Nigeria’s $337bn Climate Plan Faces Funding Test as FG Inaugurates Steering Committee

Michael Olugbode in Abuja

Nigeria’s ambition of cutting emissions by 32 per cent by 2035 and achieving net-zero emissions by 2060 will require an estimated $337 billion over the next decade, putting pressure on the federal government to mobilise investment and translate climate commitments into measurable results. To address the challenge, the government on Thursday inaugurated an inter-ministerial steering committee to coordinate the implementation of the country’s Nationally Determined Contribution 3.0 (NDC 3.0), Net-Zero Investment Plan, and Long-Term Low-Emissions Development Strategy. Director-General of National Council on Climate Change (NCCC), Mrs. Tenioye Majekodunmi, said the financing requirement for 2026 to 2035 comprised approximately $195 billion for emissions mitigation and $141.5 billion for adaptation. Majekodunmi said the investments could create jobs and strengthen economic resilience, particularly in energy, agriculture, infrastructure, and other key sectors. She said the immediate priority was to develop credible investment pipelines, deploy public and concessional finance strategically, attract domestic and international private capital, and establish the policy certainty required to encourage investors. She explained that the steering committee would provide high-level coordination, integrate climate priorities into national planning and budgeting, and resolve implementation bottlenecks that individual ministries could not address independently. According to her, the committee’s effectiveness should be measured by the barriers it removes, the investments it unlocks, and the results it delivers, rather than the number of meetings it holds. The committee is expected to bring together relevant ministries and institutions responsible for finance, energy, agriculture, transportation, industry, and other sectors critical to achieving Nigeria’s

climate objectives. NCCC will provide technical secretariat support, including coordination, analysis, implementation tracking and engagement with development partners. In a keynote address, Secretary to the Government of the Federation (SGF), Senator George Akume, said climate commitments must translate into measurable benefits for Nigerians, urging ministries, departments and agencies to integrate climate considerations into their policies, budgets, and investment decisions. Akume, who was represented by Professor Babatunde Bernard, a Nigerian scientist, environmental scholar, and Technical Adviser to the SGF, said the country must move beyond policy announcements to tangible results. “We must, therefore, judge success by implementation, not announcements; by measurable outcomes, not intentions; and by the benefits delivered to our citizens, not documents produced,” he said. The SGF said climate change could no longer be treated as the exclusive responsibility of the environmental sector because of its implications for food security, infrastructure, public health, water resources, coastal communities, and livelihoods. He urged state governments and the Federal Capital Territory Administration to incorporate climate priorities into agriculture, transportation, urban development, waste management, infrastructure and community resilience. He added that Nigeria’s transition to a low-emissions economy must reflect its development needs, including expanding access to affordable and reliable energy, creating jobs, strengthening industrial capacity, and protecting vulnerable communities. Meanwhile, United Nations Development Programme (UNDP) identified inadequate project preparation as a major obstacle to attracting private investment into Nigeria’s climate initiatives. UNDP Resident Representative in Nigeria, Ms. Elsie Attafuah, said many potentially viable private-sector projects remained

unfunded because they lacked adequate feasibility studies, credible business models, clear delivery arrangements, or appropriate financing instruments. Attafuah said projects needed to meet those requirements to attract investors, particularly where they offered substantial public benefits but could not generate sufficient commercial returns on their own. She stated that reliable clean energy could help businesses improve production, while climate-smart agriculture could protect farmers’ incomes, strengthen food security and improve resilience to extreme weather. She also emphasised the need for transparent carbon-market systems, credible emissions measurement and

reporting, and a reliable national carbon registry to strengthen accountability and investor confidence. Support for developing the registry was cited as part of efforts to track climate-related transactions and verify results. The UNDP representative stressed that climate projects must respond to local needs and involve the communities affected by them. Women, young people, farmers, and other affected groups, she said, should participate from the outset, particularly where changes in technology, land use, or employment could affect livelihoods and access to economic opportunities. State governments were also identified as essential to implementation because decisions on land,

infrastructure and public services directly influence climate resilience. The NCCC’s engagement with states is intended to connect their development priorities with technical assistance and practical investment programmes. Nigeria’s NDC 3.0 outlines mitigation measures across energy, industry, agriculture, forestry and land use, waste and other sectors. Its adaptation priorities include food systems, water, health, coastal and urban areas, and disaster-risk management. The federal government has also launched the Net-Zero Investment Plan and the LongTerm Low-Emissions Development Strategy to align immediate climate commitments with the country’s

long-term economic transformation. The launch comes weeks before the global climate community gathers in Antalya, Türkiye, for COP31, offering Nigeria an opportunity to pursue partnerships around its national priorities. The immediate test, however, will be whether the new committee can translate the country’s climate targets into costed programmes, develop investment-ready projects, and secure the resources needed to implement them. Ultimately, the success of NDC 3.0 will depend on whether climate action reduces emissions while improving energy access, protecting livelihoods, creating jobs, and strengthening resilience across the country.

Tinubu: We’ll Use Nigeria’s Gas Resources to Create Jobs and Boost Export Earnings

As local firm builds compressor stations to unlock Escravos-Lagos pipeline’s 2.3bn cubic feet daily gas capacity Deji Elumoye in Abuja President Bola Ahmed Tinubu on Thursday reaffirmed his determination to unlock Nigeria’s gas resources to power industries, improve electricity supply, create jobs and boost export earnings. He said this amid indigenous engineering firm, Lee Engineering’s achievement of building two compressor stations to enable the Escravos–Lagos Pipeline System to operate at its full capacity of 2.3 billion standard cubic feet of gas per day. The President spoke while receiving the Founder and Chairman of Lee Engineering Group, Chief Dr Leemon Ikpea, at the State House, Abuja. Tinubu reaffirmed his

administration’s Nigeria First policy and urged international oil companies operating in the country to give competent Nigerian engineering and manufacturing firms greater opportunities to participate in major energy projects. Lee Engineering is handling the Engineering, Procurement and Construction (EPC) of two midline compressor stations in Edo State. Although the pipeline’s designed capacity was increased from 1.1 billion to 2.3 billion standard cubic feet of gas per day under the ELPS II expansion, the compressor stations are needed to raise operating pressure and enable the pipeline to deliver at its full capacity. The project is expected to strengthen gas transportation to power plants and industries

along that corridor, support increased gas supplies to neighbouring West African countries through the West African Gas Pipeline, and create opportunities for additional export revenue. The President, who said Nigeria First must translate into more contracts for capable Nigerian firms, greater use of locally manufactured equipment and more skilled jobs for Nigerians, encouraged international oil companies to build stronger partnerships with indigenous engineering companies that have demonstrated the capacity to deliver complex projects. He also pointed to his administration’s 2024 executive orders and presidential directives on local content compliance, contracting costs,

and approval timelines as measures to attract investment, cut delays, and expand opportunities for Nigerian businesses. Earlier, Ikpea commended the President’s Nigeria First policy and disclosed that Lee Engineering’s fabrication yard in Warri, Delta State, is manufacturing some components for the compressor stations and houses some of the most advanced fabrication equipment in the industry. According to him, Nigerian companies have invested heavily in modern equipment, technology and skilled personnel and can now undertake complex EPC projects previously handled by foreign contractors, keeping more jobs, expertise and economic value within Nigeria.

FRIDAY, OCTOBER 23, 2026 • THISDAY

EIGHT

Cardoso Forges Stronger Banking, Payments Ties with China

James Emejo in Abuja Central Bank of Nigeria (CBN) says it is seeking more efficient cross-border payment systems, stronger banking relationships, and an expanded Nigerian banking presence in China to ease financial transactions and unlock investment opportunities between the two economies. The initiative formed the central part of discussions at a business and financial roundtable convened by CBN in Beijing. CBN Governor, Mr. Olayemi Cardoso, engaged Nigerian and Chinese business leaders on practical obstacles limiting financial flows between the two countries. The meeting, held at Pan Pacific Beijing, under the theme, “Strengthening the Nigeria–China Financial

Corridor,” focused on translating business opportunities into more effective financial connections, with participants highlighting the need to improve payment arrangements and access to banking services across both markets. The engagement came as CBN intensified efforts to strengthen the country’s financial relationships across Asia, with a focus on addressing institutional and operational constraints that could impede trade, remittances, and investment. At the roundtable, Cardoso stressed the importance of hearing directly from businesses operating across the two markets to identify the challenges confronting financial transactions and determine areas where improvements could support deeper financial market development.

He underscored the importance of using the feedback from businesses to develop a clearer understanding of the financial and institutional constraints affecting transactions between Nigeria and China. CBN said the insights gathered would inform its continued engagement with relevant financial institutions and regulatory counterparts, with attention to practical areas of cooperation within its mandate. Deputy Governor for Economic Policy, Mr. Philip Ikeazor, set the tone for the discussion, outlining the objectives of the engagement and the need to translate improvements in Nigeria’s macroeconomic fundamentals into stronger investment activity and more developed financial markets. Nigeria’s Ambassador to China, Lt. Gen. Abdulrahman Bello Dambazau

(rtd), also addressed the gathering, alongside business representatives, including Chairperson of Blue Diamond Group, Festus Mbisiogu, and Chairperson of CIG Motors, Chief Diana Chen. According to a statement by the apex bank, the interactive session provided an opportunity for business operators to share their experiences with financial transactions between Nigeria and China, drawing attention to areas where closer banking cooperation and improved financial infrastructure could ease business operations. Among the issues raised were the need for more efficient cross-border payment arrangements, stronger links between financial institutions, and the potential benefits of expanding the presence of Nigerian banks in China. Participants also examined oppor-

tunities to improve access to financial services and investment channels, with discussions centred on practical measures that could facilitate financial flows between the two countries. The roundtable also featured a presentation on Nigeria’s economic reforms, improving macroeconomic conditions, and emerging opportunities in the country’s financial markets, providing context for discussions on attracting investment and expanding financial cooperation. The Beijing meeting forms part of the bank’s wider push to deepen financial connectivity across Asia, following engagements in Singapore and at the IMF/World Bank Annual Meetings in Bangkok. The China programme also included bilateral discussions with the People’s Bank of China, engagements with the

Olayemi Cardoso leadership of Industrial and Commercial Bank of China (ICBC), and further consultations with Nigerian and Chinese businesses. CBN was also scheduled to extend the engagement to Guangzhou, where it would hold a listening session with Nigerian business operators to identify financial challenges and explore ways to strengthen remittance channels and facilitate investment into Nigeria.

Ebola: FG Mobilises Resources, APC Says N10bn Emergency Fund Untouched

Patient recovering as authorities quarantine high-risk contacts FG directs agencies to intensify nationwide enlightenment

Emmanuel Addeh, Onyebuchi Ezigbo, Olawale Ajimotokan and Adedayo Akinwale in Abuja

The federal government yesterday stepped up efforts to contain Nigeria’s Ebola outbreak, mobilising additional resources, activating emergency response structures and intensifying contact tracing and public enlightenment. This was as the All Progressives Congress (APC) Presidential Campaign Council (PCC) declared that the N10 billion approved for the emergency response has remained untouched. Also, the Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, said the infected woman was recovering, with laboratory results showing significant improvement, while health authorities had traced 44 contacts and quarantined those considered to be at high risk. The government also appealed to Nigerians to avoid spreading misin-

formation or politicising the outbreak, as the Minister of Information and National Orientation, Mohammed Idris, directed federal information agencies to intensify public awareness campaigns across the country. Briefing journalists in Abuja after updating the National Economic Council (NEC), chaired by Vice President Kashim Shettima, Pate said the government had activated the national emergency response system and mobilised resources to prevent the isolated case from developing into a wider outbreak. He said President Bola Tinubu had released additional resources to the Nigeria Centre for Disease Control and Prevention (NCDC), alongside funding available to states through the Basic Healthcare Provision Fund. Pate said the Incident Management System had been activated, with the NCDC coordinating the day-to-day national response in collaboration with the Federal Capital Territory authorities. The Presidential Task

Force on Ebola had also been briefed, while the Nigeria Governors’ Forum received an update on the situation. “We all are aware that Nigeria picked up one important case of Ebola virus disease. Thankfully, that individual has been taken care of and in fact is recovering. Today I spoke to clinicians and I understand that lab results are showing great improvement and there is a possibility that she will recover,” he said. According to the minister, the woman was asymptomatic when she arrived in Nigeria from Uganda but developed symptoms several days later. Authorities initiated contact tracing after the infection was confirmed, he added. He said contacts had been identified at the hospital, a private clinic and among the patient’s domestic associates, with those exposed categorised according to their risk levels. High-risk contacts have also been placed in quarantine, while others were isolated and monitored.

Pate said all states had been notified, with most already developing response plans with NCDC guidance. States yet to complete their plans have also been directed to do so promptly. Pate added that the federal government was adopting a whole-ofgovernment approach, involving the aviation ministry and other agencies under the coordination of the Chief of Staff to the President. The minister said the speed of the response demonstrated the country’s capacity to detect and manage public health emergencies, noting that the case was diagnosed within 24 hours of authorities being informed and the World Health Organisation subsequently notified. He disclosed that the government would undertake genomic sequencing of the virus with support from Prof. Christian Happi of the Africa Centre of Excellence for Genomics of Infectious Diseases at Redeemer’s University, Ede.

Akpabio Faults Denial of Faduyile’s 2027 Ticket, Declares Senate is Losing Experience

Sunday Aborisade in Abuja

President of the Senate, Godswill Akpabio, has faulted the reported decision to deny Senator Francis Faduyile, a ticket to contest the 2027 general election, warning that the exclusion of experienced lawmakers would deprive the National Assembly and the country of their contributions to legislation. Akpabio, who expressed surprise that Faduyile might not return to the Senate after completing the tenure of Senator Jimoh Ibrahim, now Nigeria’s Ambassador to the United Nations, urged political stakeholders to reconsider the decision and prioritise competence in selecting candidates for elective offices.

“What kind of politics are we doing when we are throwing away our best?” he asked during deliberations on a motion sponsored by Faduyile at plenary. Faduyile, a former President of the Nigerian Medical Association (NMA), is serving in the Senate to complete Ibrahim’s tenure. Akpabio argued that political parties should recognise the experience, expertise and capacity of individuals when deciding who should represent their constituents, stressing that capable Nigerians could contribute to national development through different public offices. “I believe that he’s very sound and people can go to other places. Some people could be made ministers, DGs, secretaries to government

and all that, deputy governors or governors or whatever. Others can serve in the legislature. I believe that he’s one of your best,” he said. The Senate President appealed to stakeholders in Faduyile’s political community to reconsider their position, urging them to ensure that competent individuals were not denied opportunities to contribute to the legislative process. “Take my message back to your community that you should put your best foot forward. Try to reconsider the decision,” he told Senator Adeniyi Adegbonmire, who responded that the advice had been noted. Akpabio returned to the issue in his closing remarks, warning against allowing senators with

proven capacity to serve for brief periods without sufficient time to make meaningful contributions to legislative business. “I must also further thank Professor Francis Faduyile and say that what I said was serious. That it’s not good for a senator to come and just be in the Senate for one year. “It is important that the political parties take a good look, particularly where we have very serious-minded people who can make serious contributions to legislation and by implication to Nigeria. Taking tickets from such individuals robs us of his experience,” Akpabio said. He specifically cited Faduyile’s professional background and leadership of the NMA as attributes that could enrich the Senate’s work.

Development partners, including the Africa Centres for Disease Control and Prevention and the World Health Organisation (WHO), had been briefed and were supporting the response. Experienced personnel were also arriving from Kenya to assist, he said. Pate urged Nigerians to remain calm, observe hand hygiene, avoid contact with body fluids and cooperate with contact tracers. He said there was no evidence of community transmission and no current need to alter public gatherings, adding that recommendations would be reviewed as new evidence emerged. He also said the patient’s test had returned positive on three occasions but declined to make the results public, citing patient confidentiality. But amid questions over the government’s preparedness and the management of emergency funds, the APC Presidential Campaign Council said the N10 billion approved by Tinubu in June remained unspent. In a statement issued yesterday by its spokesperson, Dele Alake, the council said the NCDC, Federal Airports Authority of Nigeria (FAAN) and other agencies involved in surveillance had been using other available resources to manage the response. Alake said the surveillance system had helped alert the authorities to the index case and facilitated the identification of the patient’s 44 contacts. He criticised former Vice President Atiku Abubakar over comments questioning the expenditure of the N10 billion and linking the President’s first name to the outbreak, arguing that public health concerns should not be used for political attacks. Alake also defended the failure to detect the infection at the Abuja airport, explaining that Ebola’s incubation period ranges from two to 21 days and that infected persons do not transmit the virus before developing symptoms. He urged opposition politicians

to support the authorities and communicate responsibly, dismissing suggestions that official briefings on the outbreak were intended to discourage attendance at campaign rallies or voting. He said: “Vice President Atiku cannot make such a serious allegation without verifiable evidence, especially in the thick of electioneering.” Separately, Idris directed the National Orientation Agency (NOA), Nigerian Television Authority, Federal Radio Corporation of Nigeria, Voice of Nigeria and News Agency of Nigeria to intensify public enlightenment on Ebola prevention, transmission and reporting procedures. The minister instructed the agencies to work with the health ministry and NCDC to ensure that messages were accurate, consistent with public health guidance and disseminated in Nigerian languages to reach communities nationwide. “The federal government is taking every necessary step to contain this case and protect Nigerians. Accurate and timely information is one of our strongest defences. Our agencies must reach every community, in every language, with clear facts on how Ebola spreads, how to protect ourselves and where to report suspected cases,”Idris said. He specifically tasked the NOA with deploying its network of offices to conduct grassroots sensitisation in collaboration with traditional and religious leaders, community organisations and the media. Idris urged Nigerians to avoid circulating unverified information on social media and to rely on official sources for updates. Members of the public were also advised to report suspected cases through the NCDC’s toll-free, 24-hour emergency line, 6232. The coordinated measures come as the federal government seeks to contain the confirmed infection, trace exposed persons and prevent further transmission, while urging public cooperation and responsible communication.

THISDAY • FRIDAY, OCTOBER 23, 2026

NEWS

KALABARI ROYAL COURTESY VISIT TO THE PALACE OF THE SULTAN OF SOKOTO...

L-R: Imam Abdulmalik Tanko Yahaya; Prince Tonye T.J.T Princewill; Sultan of Sokoto, His Eminence, Alhaji Muhammadu Sa’ad Abubakar III; Amakiri Tubo Mujahid Dokubo Asari; Hajiya Ramat Dokubo Asari; and Hajiya Halima Dokubo Asari, during a Kalabari Royal courtesy visit to the Palace of the Sultan of Sokoto led by Asari in Sokoto on Wednesday

Katsina Emir to APC: God Will Judge You If You Renege on Your Promises Decries growing insecurity, closure of key firms in the north

Emmanuel Addeh in Abuja The Emir of Katsina, Abdulmumini Usman, has warned the All Progressives Congress (APC) against making promises to Nigerians without the intention of fulfilling them, saying those who deceive the people for political gains would answer to God on the Day of Judgment. The emir, who spoke when he received the Director General of the APC Campaign and former Zamfara

State Governor, Abdulaziz Yari, and his team at his palace, also decried growing insecurity in the North-west. In the remarks translated from Hausa to English, Usman also lamented the restrictions on farming and the collapse of major industrial establishments that once provided jobs and economic opportunities in the northern region. Addressing Yari and his entourage, the traditional ruler said political leaders must understand that leadership comes with the responsibility to serve the

people honestly, warning that making promises without intending to fulfil them was a form of deception that would attract divine judgment. “You speak nicely so that you can live peaceably with your wife; you speak kindly to a sick person so that they may find relief. You are even permitted to tell a strategic lie during wartime, such as saying you are going east when you intend to go west. “But this kind of falsehood where you knowingly make promises about

what you claim you will do, yet you have no intention of doing it. Allah will surely question you about it on Judgment Day, I swear by Allah,” the monarch said. The emir urged politicians to embrace sincerity, compassion and service, stressing that politics should be about persuading people to accept one’s ideas rather than engaging in hostility, character assassination and hypocrisy. “Politics is not madness. What is

Nigeria, China Target Billion-Dollar Opportunities, as Filmmakers Push Co-production, Market Access Michael Olugbode in Abuja

Nigeria and China are seeking to turn their growing cultural relationship into a stronger commercial partnership in film, with filmmakers from both countries exploring coproduction, technology transfer, and distribution opportunities that could open up two major audiences to each other’s creative industries. The push gained momentum at the Chinese Film Screening in Nigeria 2026 in Abuja, where industry stakeholders identified the combination of Nigeria’s storytelling strength and China’s cinema infrastructure, capital, and distribution expertise as a potential pathway to expanding the global reach of their productions.

The discussions also highlighted a major challenge facing the proposed partnership: translating cultural exchanges and diplomatic goodwill into concrete business arrangements that enable filmmakers to secure investment, distribute their works across borders and earn sustainable returns. Director of the China Cultural Centre in Nigeria, Mr. Yang Jianxing, said film remained an important bridge for strengthening understanding between the two countries, whose creative industries offered considerable scope for collaboration. Jianxing said, “China and Nigeria share a deep-rooted traditional friendship and close people-to-people exchanges, and film serves as an important bridge for fostering mutual

understanding between our peoples.” He said cooperation had expanded through reciprocal film screenings, professional exchanges, festivals and the distribution of productions across national borders. The partnership involving the Chinese Embassy, China Cultural Centre, and StarTimes Nigeria has helped bring Chinese film and television productions to Nigerian audiences through initiatives, including a month-long showcase, Chinese Women’s Film Festival, and screenings of works dubbed or subtitled in local languages, including Hausa. “StarTimes has successfully brought outstanding Chinese productions and knowledge series to a broader audience,” he said.

Dokubo-Asari Honours Sultan of Sokoto, Seeks Royal Presence at Coronation Blessing Ibunge in Port Harcourt

The Amanyanabo of the Source, Elem-Kalabari, Torusarama-Piri, in Rivers State, Alhaji Mujahid Abubakr Dokubo-Asari, has honoured the Sultan of Sokoto, His Eminence, Alhaji Muhammad Sa’ad Abubakar III, with a Leadership Award. According to the paramount ruler, the award is in recognition of Sultan’s contributions to peace, unity and responsible traditional leadership. Dokubo-Asari presented the

award during a courtesy visit to the palace of the Sultan of Sokoto, accompanied by Alabo Prince Tonye Princewill, the Paramount Head of Da Ogo Group of Houses, alongside other dignitaries, palace hypemen and special advisers. The visit also provided an opportunity for the Amanyanabo to formally invite the Sultan to the forthcoming Se Diye (Coronation) ceremony scheduled for December 19, 2026. The royal engagement underscored

the importance of cooperation among traditional institutions in promoting national unity, peaceful coexistence and mutual respect across Nigeria’s diverse cultural communities. Speaking during the visit, DokuboAsari, who is also described as Da Amakiri Tubo highlighted the significance of fostering cordial relationships among traditional rulers, whose influence remains vital to community development, conflict resolution and the preservation of cultural heritage.

Jianxing added that Nigerian films had also reached mainstream Chinese digital media platforms, exposing audiences there to Nigerian stories, characters, and experiences. The commercial potential of the relationship was underscored by Fidelis Duker, founder of the Abuja International Film Festival, who said discussions with the Chinese delegation had focused on production, distribution, and co-production opportunities, including engagements with Nigerian film institutions and plans to meet distributors and cinema operators in Lagos.

politics? It is convincing someone into your convictions. It is about drawing people to your perspective. That is politics, not fighting, castigation, hypocrisy, envy, castigation, and wickedness,” he said. He added that political leaders and elders had a duty to speak the truth, irrespective of whose interests might be affected, insisting that genuine leadership required putting the welfare of others ahead of personal ambition. “I swear by Allah, it is only when you genuinely love people, help them, and stand by them that Allah will love you, help you, and stand by you,” the emir said. He cautioned against the growing tendency to use politics to undermine opponents and spread damaging allegations, arguing that such conduct was inconsistent with the moral obligations of leadership. According to him, the country’s problems would persist unless Nigerians changed their attitudes and returned to the path of justice, unity and mutual assistance. “Allah says He will not change our condition until we change ourselves. We have nothing left to do except to engage in castigation, ruining this person, ruining that person, and spreading evil tales about them. Why all this?” he asked. The traditional ruler also warned

against divisions among Nigerians, citing religious teachings that encourage unity and the protection of common interests. He illustrated the danger of division with a Hausa proverb, saying: “It is only when the wall cracks that the lizard finds a way to enter.” He added that the situation had become even more dangerous, declaring: “But in our own case, it is not even a lizard trying to enter, it is a whole camel!” The emir’s concerns extended to the worsening security situation in the North-west, where he said farming had become increasingly difficult, depriving communities of a major source of livelihood and undermining the region’s economic prospects. He questioned the silence of political leaders and elders over the insecurity and the disappearance of major industrial establishments that once supported economic activity in the northern states. “If you go to Kaduna, where is the Peugeot Automobile company? They have all collapsed. Why? And yet we remain silent. Where are the elders? We have to speak up,” he said. The emir maintained that public office holders and community leaders should be more concerned about improving the lives of ordinary Nigerians than pursuing personal wealth, luxury and status.

After Shagari, Jakande and Abacha, Tinubu Will Be Nigeria’s Housing President, Says Nya-Etok

Kuni Tyessi in Abuja

The Executive Director, Estate Services at the Federal Housing Authority, FHA, Arc. Ezekiel Nya-Etok, has said housing will be President Bola Tinubu’s greatest legacy, ranking him alongside former President Shehu Shagari, late Chief Lateef Jakande and late General Sani Abacha as the leaders who truly delivered mass housing in Nigeria. Nya-Etok spoke on Thursday during a media parley in Abuja on the gains of the Tinubu administration in its first tenure and why Nigerians should vote for President Tinubu again. According to him, after the well-

known mass housing programmes of Shagari and Jakande, no other administration made a significant impact on housing except Abacha who built Gwarimpa, until now. He disclosed that President Tinubu has given a direct mandate to the FHA to provide housing solutions for Nigerians and that the Authority has already held no less than ten strategic meetings on new models and possibilities. Nya-Etok, who said his agency is working on a new nationwide initiative called Enterprise Estate, promised a complete paradigm shift in housing delivery before the end of the administration. “Housing is one of his greatest

legacies that he is going to have as an achievement. Do you know that after Shagari Housing and Jakande Housing you can’t talk of any other administration? The other person that unfortunately we don’t give him enough credit is Abacha. Yes, Abacha did a lot for housing.” The FHA Director linked the housing push to the stabilisation of the macro economy which he said is the foundation for all other growth. “There is something called Enterprise Estate and it’s going to be all over and Nigerians will see a complete paradigm shift on housing delivery. I think that housing is going to be one of the biggest achievements of this administration,” he said.

FRIDAY, OCTOBER 23, 2026 • THISDAY

NEWS

SIGNING OF MOU FOR VENDOR FINANCING SCHEME WITH RENAISSANCE AFRICA ENERGY...

L-R: Head Corporate Banking, Union Bank of Nigeria, Mr. Ali Kadiri; Executive Director, Corporate Bank and Business Banking - Lagos and Southwest, Union Bank of Nigeria, Mr. Taiwo Shote; Chief Financial Officer, Renaissance Africa Energy, Mr. Olusegun Banwo, and Managing Director/Chief Executive Officer, Renaissance Africa Energy, Mr. Tony Attah, during the Bank’s signing of the Memorandum of Understanding for the Vendor Financing Scheme with Renaissance Africa Energy Limited held at the Lagos on Monday

NEC Approves 90-day Plan to Ease Cost of Living

Targets food affordability, tax harmonisation, others FG charges 36 governors to improve living conditions Tinubu: We’ll use Nigeria’s gas resources to create jobs, boost earnings Firm set to unlock Escravos-Lagos pipeline’s 2.3bn cubic feet capacity Deji Elumoye in Abuja The Shettima-led National Economic Council (NEC), yesterday endorsed a 90-day economic action plan proposed by the federal Ministry of Finance to ease the cost of living, improve food affordability, attract investment and accelerate projects with direct benefits for Nigerians. This came as the federal government charged state governors to translate the gains of President Bola Tinubu’s economic reforms into better living conditions for their citizens. The council also approved a national dashboard to track ongoing projects across the federation, with particular emphasis on transparency, accountability and accurate reporting on the utilisation of proceeds from fuel subsidy removal. The decisions followed a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, at NEC’s 161st meeting, held virtually and chaired by Vice President Kashim Shettima. The 90-day plan identified five priority areas, including food afford-

ability, tax harmonisation, completion of high-impact projects, resolution of investment bottlenecks and regulated household support. Presenting the economic outlook, Oyedele expressed optimism about the progress recorded under the Tinubu administration’s reform programme and the prospects for further recovery. He identified reducing headline inflation and interest rates to single digits by 2027 as key policy objectives, stressing that the next phase of reforms would require coordinated implementation across federal and state institutions. The presentation focused on translating macroeconomic improvements into measurable benefits for households and businesses through targeted interventions, improved fiscal coordination and the removal of barriers to investment. Also addressing council members, Shettima charged governors and relevant government institutions to ensure that the gains of the reforms translated into affordable transportation, improved healthcare, employment opportunities and greater financial security for Nigerians.

He said the success of economic policies must ultimately be measured by their impact on citizens’ daily lives, rather than announcements of reforms, adding that the government must build institutions that enable Nigerians to plan their futures with confidence. “The first dividend of prosperity should be the confidence to plan a life. Our task is to make such confidence less dependent on fortune,” he said. According to him, the council’s deliberations on transportation, healthcare, police reform and livestock development represented critical decisions about the quality of life Nigerians should expect from economic progress. “Our separate jurisdictions must serve a common public interest,” Shettima said, emphasising that Nigeria’s federal structure must strengthen cooperation rather than become an obstacle to delivering essential services. On the National Compressed Natural Gas (CNG) Bus Initiative, the vice president underscored the need for state governments to support affordable transportation systems that would reduce the financial burden

on commuters. He maintained that the success of the programme should be determined by affordability and accessibility rather than the number of vehicles deployed. “The cost of reaching a livelihood should never consume the livelihood itself. The passenger’s experience must guide our ambition, because the value of public transport resides in the journeys it makes possible. We should assess success through affordability and access, rather than fleet size alone,” he said. Shettima maintained that Tinubu’s economic reform programme was designed to achieve broader national prosperity, noting that governments at all levels had a responsibility to translate its objectives into improved living conditions. “President Bola Tinubu has made economic reform the instrument of a larger national ambition. Our contribution must give that ambition social depth and productive strength.” He urged governors to bring their understanding of local realities into national policy decisions, insisting that effective implementation required clear

Senate Probes University Governing Councils, Seeks NUC Reform Moves to check alleged illegal management structures in public, private institutions Backs research fund with 20% of Nigerian Content Fund Warns FG over Aiyetoro’s destruction by ocean surges

Sunday Aborisade in Abuja

Senate on Thursday moved to investigate the governing structures of public and private universities across Nigeria over alleged violations of statutory requirements. The move came as the upper chamber intensified efforts to strengthen regulatory oversight, improve research funding, and protect vulnerable coastal communities from environmental devastation. The senate resolved to constitute an ad hoc committee to investigate Tansian University, Umunya, Anambra State, and other tertiary institutions

following allegations that some universities had adopted management structures inconsistent with established governance regulations. The decision followed a motion by Senator Victor Umeh (Anambra Central), who raised concerns about the alleged operation of corporate-style management structures, including managing directors and executive directors, in some private universities. The issues emerged during consideration of the National Universities Commission Act, 2026 (SB. 1056), sponsored by Senate Leader Opeyemi Bamidele, which sought to strengthen the regulatory

authority of the National Universities Commission (NUC) over the establishment, administration, monitoring and management of universities and other degree-awarding institutions. Umeh alleged that Tansian University had failed to comply with existing regulatory provisions, despite sanctions imposed by NUC. According to him, rather than operate a board of trustees as required, the institution was allegedly headed by an executive director who exercised powers to appoint and dismiss vice chancellors at will. He stated that such practices undermined established university

governance standards and weakened the commission’s capacity to enforce compliance. Responding, Senate President Godswill Akpabio called for a comprehensive investigation to establish whether the university and other institutions had violated applicable laws. “This consideration of the bill does not preclude our committees on Basic and Tertiary Education from bringing to the Senate the university so named for necessary action,” Akpabio said. Akpabio specifically called for an ad hoc committee to “investigate where it got its powers from to have directors”.

responsibilities and practical agreements among the tiers of government. “Our separate mandates must not become competing excuses. Each Governor carries knowledge that no federal document can supply,” he said. The vice president challenged council members to assess every policy proposal by its capacity to reduce uncertainty, create opportunities and strengthen public confidence in government. “Nigerians deserve institutions on which they can organise their lives. Providing that assurance is among the most consequential uses of public authority. That is the assurance we owe them,” Shettima said. On transportation, NEC received a presentation on the National Affordable CNG Transit Programme from the Chairman of the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Ismaeel Ahmed, and resolved to establish a joint financing framework between the federal and state governments to accelerate the deployment of CNG and electric vehicles. The council directed that the programme must deliver tangible benefits through reduced transportation costs rather than merely increasing the number of alternative-energy vehicles on the roads. It further resolved that relevant authorities should engage transport unions and operators to ensure that savings from adopting CNG and electric vehicles were passed on to commuters through lower fares. A committee would be constituted to coordinate the financing arrangement, engage stakeholders and develop measures to make transportation more affordable, accessible and sustainable. NEC also received updates on the reported Ebola case in the Federal Capital Territory from the Minister of Health and Social Welfare, Prof. Ali Pate, who assured members that Nigeria had the institutional capacity to contain the infection. Pate identified coordination and governance, detection at points of entry, laboratory testing capacity, logistics for essential kits and personal protective equipment, and effective strategic communication as critical

components of the national response. He said 21 state governments had updated their response plans and urged the remaining 15 states to expedite the establishment of appropriate preparedness and response mechanisms. Meanwhile, Tinubu yesterday reaffirmed his determination to unlock Nigeria’s gas resources to power industries, improve electricity supply, create jobs and boost export earnings. He spoke while receiving the Founder and Chairman of Lee Engineering Group, Chief Leemon Ikpea, at the State House, Abuja, following the indigenous engineering firm’s work on two compressor stations designed to enable the Escravos-Lagos Pipeline System to operate at its full capacity of 2.3 billion standard cubic feet of gas per day. Tinubu reaffirmed his administration’s ‘Nigeria First’ policy and urged international oil companies operating in the country to give competent Nigerian engineering and manufacturing firms greater opportunities to participate in major energy projects. Lee Engineering is handling the engineering, procurement and construction of two midline compressor stations in Edo State. Although the pipeline’s designed capacity was increased from 1.1 billion to 2.3 billion standard cubic feet of gas per day under the ELPS II expansion, the compressor stations are required to raise operating pressure and enable the pipeline to deliver at its full capacity. The project is expected to strengthen gas transportation to power plants and industries along the corridor, support increased supplies to neighbouring West African countries through the West African Gas Pipeline and create opportunities for additional export revenue. Tinubu said the Nigeria First policy must translate into more contracts for capable Nigerian firms, greater use of locally manufactured equipment and more skilled jobs for Nigerians. He encouraged international oil companies to build stronger partnerships with indigenous engineering companies that had demonstrated the capacity to deliver complex projects.

FRIDAY, OCTOBER 23, 2026 • T H I S D AY

C E L E B R AT I O N O F A B E L OV E D PAT R I ARC H

Dr Geoffrey Chukunwiken Ohen (Jr) 20th January 1957 – 22nd September 2026 Beloved Husband, Father, Grandfather, Brother, Uncle and Friend

The Ohen family cordially invites you to celebrate his life at the funeral ceremonies. “Blessed are the dead who die in the Lord … they will rest from their labour, for their deeds will follow them.” R E V E L AT I O N 1 4 : 1 3 S U RV I V E D B Y

Monday, 26th October

WIFE

Service of Songs & Night of Tributes V E N U E St Saviour’s School, Alexander Avenue, Ikoyi TIME 4pm Service of Songs 6pm Night of Tributes COLOUR A touch of blue

Barr Mrs Ogugua “OG” Ohen CHILDREN

Geoﬀrey Ohen III Carmen Ohen Frederick Ohen II GRANDCHILD

Alaïa Ohen‐Kazeem

Tuesday, 27th October

LAGOS

Commendation Service V E N U E Our Saviour’s Church, TBS TIME 9am

Friday, 30th October

D E LTA

Lying in State V E N U E Family home, Owa TIME 9am Funeral Service V E N U E Anglican Cathedral Church of Ascension, Lagos/Asaba Road, Boji‐Boji Owa TIME 11am COLOUR Cream on cream Fabric available on request

Interment: private, at Owa Alizomor

Thursday, 29th October

D E LTA

Service of Songs V E N U E St James Anglican Church, Agbor TIME 4pm COLOUR Green

Reception V E N U E Ika Grammar School

Sunday, 1st November Thanksgiving & Outing Service

Fabric available on request

TA P H E R E TO R S V P → or visit geoffrey-ohen.lovable.app/rsvp ENQUIRIES

0803 324 1670 · frederick@geoﬀohenltd.com

D E LTA

FRIDAY, OCTOBER 23, 2026 • T H I S D AY

2027 NNPC/RENAISSANCE JV SABBATICAL AND POSTGRADUATE RESEARCH INTERNSHIP PROGRAMME Renaissance Africa Energy Company Limited (Renaissance), operator of the Nigerian National Petroleum Company Limited (NNPC), Renaissance, TotalEnergies and Agip Energy and Natural Resources Joint Venture (Renaissance JV), invites applications from suitably qualified candidates to apply for the 2027 Sabbatical and Postgraduate Research Internship Programme.

POSTGRADUATE RESEARCH INTERNSHIP FOR UNIVERSITY STUDENTS The Postgraduate Research Internship provides opportunities for Nigerian postgraduate students (MSc, M.Phil., and PhD) to gain industry-related work experience and conduct topical research within Renaissance Africa Energy Company Limited. Duration: 12 Months (Non-renewable)

TEAMS / DISCIPLINES: • • •

•

Environment: Impact Assessment and Environmental Compliance Monitoring. Occupational Health: Health Promotion; and Epidemiology / Statistics. Pipeline Availability: PhD candidate in Mechanical Engineering, Chemical. Engineering, Materials Engineering, or Oil & Gas Engineering, with at least three (3) years of pipeline engineering experience in design, construction, or integrity assessment. Exploration: PhD Intern - Geology / Geophysics, AI in exploration workflow. SABBATICAL ATTACHMENT FOR UNIVERSITY LECTURERS

The sabbatical attachment offers University lecturers from the rank of Senior Lecturer and above, opportunity to undertake research and other activities that will contribute to Renaissance Africa Energy Company Limited’s business objectives. It also provides an avenue to acquire industry-related experience and contribute to teaching and research activities at the Renaissance JV Centres of Excellence (CoEs). Duration: 12 Months (Non-renewable)

TEAMS / DISCIPLINES: •

• • • • •

•

Environment: Impact Assessment and Biodiversity, Environmental Toxicology, Air Quality Assessment, Hydrobiology, Water Chemistry, Hydrogeology, Ecology, etc. Corporate Relations: Social Performance (Social Impact Assessment and Management). Corporate Relations: Host Community Development Trust (HCDT)/ Stakeholder Relations. Community Health: Consultant Community Health, Obstetrics & Gynecology, and Pediatrics. Nigerian Content Development: A Professor in any Engineering Discipline with interest in either Process or Project Engineering. NNPC/Renaissance-JV Centre of Excellence in Geosciences and Petroleum Engineering, University of Benin, Benin City: Geology, Geophysics, and Petroleum Engineering. NNPC/Renaissance-JV Centre of Excellence in Marine and Offshore Engineering, Rivers State University, Nkpolu-Oroworukwo, Port Harcourt: Marine/Offshore Engineering and Naval Architecture. Exploration: Geology / Geophysics, AI in exploration workflow.

www.renaissanceafrica.com

METHOD OF APPLICATION All applications and supporting documents should be sent to universityrelations@renaissanceafrica.com with the relevant Team/Discipline clearly stated as the email subject. Applications from candidates should consist of the following: i. Application letter stating team/discipline of interest. ii. Curriculum vitae including contact phone number, email address, and contact information of three referees. iii. For sabbatical position, a titled, one page summary of how the candidate intends to add value to the Renaissance business during the 12 months sabbatical. iv. For the Research Internship position, a proposal including: study background, technical objectives, methodology, data required and expected outcome. Note: » » » » » »

Applications open on 23 October 2026 and close on 6 November 2026. Renaissance and Its Joint Venture partners DO NOT DEMAND PAYMENT FROM APPLICANTS. The application is entirely FREE of charge. Renaissance and Its Joint Venture partners DO NOT ASSIGN ‘Representatives’/‘Agents’ to assist applicants’ process applications. Applications from persons who have previously participated in the programme will not be considered. Application letter without Team/Discipline of interest clearly stated will NOT be considered. Applications received after the deadline will not be considered and ONLY shortlisted applicants will be contacted. DATA PROTECTION NOTICE

• • • •

• •

•

Data Protection Notice. The Renaissance Africa Energy Company Limited is committed to data privacy. Processing of Personal Data Collected by NNPC/Renaissance-JV. Personal data collected by The Renaissance African Energy Company Limited, Operator of the NNPC/Renaissance /TotalEnergies/AENR Joint Venture will be used exclusively for the purpose of selection of candidates. The information will not be used for an incompatible purpose. Renaissance is the Controller for the processing of your personal data and will not use your personal data for direct marketing purposes. In the event the personal data needs to be processed by, transferred to, or exchanged with a third party, appropriate contractual safeguards will be put in place to ensure that the third party will take adequate measures to safeguard the privacy of the data. As a data subject, you have the right to object to the processing of your personal data on legitimate compelling grounds except when it is processed to comply with a legal obligation or is to be used for a purpose for which you have given your implied consent. The Renaissance Africa Energy Company Limited, Operator of the NNPC/ Renaissance/TotalEnergies/AENR Joint Venture will only retain the data for as long as it is necessary to serve the purpose of collection or to the extent necessary to comply with applicable law or to protect the rights Itself, affiliates, Joint venture or the data subject concerned. We have implemented technology and policies with the objective of protecting your privacy from unauthorised access and improper use. For inquiries or concern, please contact: university-relations@renaissanceafrica.com

@renaissance_afr

Energy for people and planet...

FRIDAY, OCTOBER 23, 2026 • T H I S D AY

IN THE FEDERAL HIGH COURT OF NIGERIA

FRIDAY, OCTOBER 23, 2026 • T H I S D AY

T H I S D AY • FRIday OCTOBER 23, 2026

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sms only

NAF Air Mishaps: Of Aircraft Maintenance and Operational Safety The recurring aviation mishaps involving Nigerian Air Force aircraft raise troubling questions about aircraft maintenance, operational safety and accountability, making it imperative to address the underlying causes before more lives are lost, writes Linus Aleke.

ver the past decade, the Nigerian Air Force (NAF) has experienced a series of aviation mishaps involving transport aircraft, fighter jets, helicopters, training aircraft and unmanned aerial platforms. Media reports have identified at least 16 incidents during the period under review. The latest and deadliest incident occurred on 5 October 2026, when an ATR-42 aircraft, designated NAF 931, crashed near the naval base at Igbokoda, Ilaje Local Government Area of Ondo State, while undertaking a routine flight from Benin City to Lagos. All 25 people on board, comprising 20 passengers and five crew members, reportedly died. As of 10 October 2026, the cause of the crash had not been officially established, and an investigation had been ordered. Barely 24 hours later, an NAF helicopter made a precautionary landing in Benue State following an air interdiction mission near the Benue–Enugu boundary. The helicopter subsequently returned safely to base. Other recent incidents included an Alpha Jet emergency at NAF Base Kainji, Niger State, on 6 December 2025, during which both pilots ejected safely, and the reported loss of a CH-4B unmanned aerial platform in Niger State in January 2026, which did not result in human fatalities. Earlier incidents included a Super Mushshak trainer aircraft mishap near Kaduna Military Airfield on 7 March 2024, from which both pilots emerged uninjured; the crash of an FT-7NI training aircraft at Makurdi on 14 July 2023, with both pilots reportedly ejecting safely; and the crash of an Mi-171E helicopter at Chukuba, Niger State, on 14 August 2023, during a casualtyevacuation mission. Reports differed on the death toll from the latter incident. On 1 December 2023, an Mi-35P attack helicopter crashed shortly after take-off at NAF Base Port Harcourt, although all five crew members reportedly survived with minor injuries. In 2022, a Super Mushshak trainer aircraft crashed at NAF Base Kaduna, killing Flight Lieutenant Abubakar Muhammed Alkali and Flight Lieutenant Elijah Haruna Karatu. The year 2021 witnessed several major incidents. On 21 February, a Beechcraft King Air 350i, designated NAF 201, crashed while returning to Abuja, killing all seven personnel on board. On 31 March, an Alpha Jet disappeared over Borno State, with both pilots presumed dead. The NAF rejected claims that the aircraft had been shot down, stating that a video circulated in connection with the incident did not establish enemy action. On 21 May 2021, a Beechcraft King Air 350 crashed near Kaduna Civil Airport, killing all 11 occupants, including the then Chief of Army Staff, Lieutenant General Ibrahim Attahiru. A joint investigation by the NAF and Nigeria’s Accident Investigation Bureau subsequently produced an interim report containing 27 initial findings and eight immediate safety recommendations. Another Alpha Jet incident occurred near the Kaduna–Zamfara boundary on 18 July 2021, with the pilot surviving after ejecting. Earlier accidents included the crash of an Mi-35M helicopter at Damasak, Borno State, on 2 January 2019, with five reported fatalities; an RV-6AAir Beetle trainer aircraft crash in Kaduna State on 17 August 2019, which killed one person; and a training helicopter crash in Enugu State on 14 November 2019, with no reported fatalities. On 28 September 2018, two F-7NI fighter jets collided during rehearsals for Nigeria’s Independence Day celebrations at Katampe Hills, Abuja, resulting in one reported fatality. In July 2017, an Agusta 109 utility helicopter came down in the Borno River following a reported technical problem, without loss of life. Collectively, these incidents encompass fatal and non-fatal crashes, mid-air collisions, emergency ejections, precautionary landings

and the loss of an unmanned platform. They underscore the importance of distinguishing confirmed facts from preliminary reports and awaiting the findings of official investigations before attributing causes. Although the NAF has institutionalised civilian harm mitigation through intelligencedriven targeting, collateral damage assessments, adherence to international humanitarian law and measures to protect civilians during air operations, concerns persist about the adequacy

of its preventive policies and programmes. Public outcry from communities affected by collateral damage, amplified by international human rights organisations such as Amnesty International (AI), has further intensified scrutiny of the service. Meanwhile, questions about the effectiveness of existing aviation safety safeguards remain. The persistence of mishaps has fuelled public criticism, with some detractors disparagingly likening NAF aircraft to overripe mangoes that

fall from trees at the slightest breeze. Against this backdrop, security experts and public affairs analysts have called for more transparent investigations, improved maintenance, better training, stronger civil-military cooperation and a long-term strategy for developing Nigeria’s indigenous aerospace capabilities. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Oyebanji’s Industrialisation Blueprint for Ekiti’s Economic Transformation

Governor Biodun Oyebanji of Ekiti State has unveiled his agenda to transform the State acclaimed as the ‘fountain of knowledge’ from a largely agrarian state to an industrial hub. Gbenga Sodeinde writes.

or years, the development story of Nigerian states has largely been measured by the roads constructed, bridges completed and public infrastructure delivered. But as fiscal pressures mount and states are compelled to build more productive economies, the real test of leadership is increasingly shifting from infrastructure delivery to wealth creation. It is against this changing economic landscape that Governor Biodun Oyebanji is redefining the next phase of Ekiti’s development. Having spent his first term laying the physical foundation for growth through road expansion, electricity projects, agricultural interventions and improved connectivity, Oyebanji says his second term will focus on converting those investments into industries, stronger businesses and sustainable economic opportunities. In an interview, the governor unveiled an economic blueprint anchored on industrialisation, local processing of agricultural products, private-sector investment and support for small businesses, declaring that the state’s next major priority is to build an economy driven by productivity. “Our next major focus, therefore, is industrialisation and support for small businesses. That is the only way we can deepen our shared prosperity agenda,” Oyebanji said. The declaration marks a significant shift in the administration’s development strategy — from building the infrastructure required for growth to ensuring that those assets begin to

generate jobs, expand enterprises and improve the livelihoods of Ekiti residents. At the heart of the blueprint is the conviction that infrastructure, however essential, cannot by itself deliver prosperity. Roads, electricity connections, farm access routes, water systems and an upgraded airport must ultimately serve as platforms for production, investment and enterprise. For Oyebanji, the next phase of governance will therefore be judged not merely by the scale of public works completed, but by the economic activity those projects unlock. During his first term, the administration constructed and rehabilitated roads, connected previously underserved communities to electricity, improved township and farm roads, and strengthened the foundations of agricultural production. By the end of the year, the governor

said, the state would have completed close to 400 kilometres of roads. Those interventions, he argued, were necessary to create the conditions for a more productive economy. The second-term agenda is designed to build upon that foundation. Oyebanji wants agricultural commodities produced in Ekiti to be processed within the state rather than exported in raw form, thereby creating additional value, expanding local supply chains and generating employment. The objective is to move from production without sufficient value addition to an integrated economic system in which farmers, processors, manufacturers, transport operators and small businesses participate in a shared cycle of growth. “Our farmers must also be able to produce at scale and have reliable off-takers who can purchase their produce and supply it to companies that will add value through processing,” he said. That ambition is already reflected in the state’s emerging agro-industrial landscape. The Special Agro-Industrial Processing Zone has attracted significant investment, with businesses committing billions of naira to agricultural production and processing. Companies such as Arog Agro-Allied and Agbeyewa Farms are part of this expanding ecosystem, while the latter’s large-scale cassava operation has been described as one of the biggest of its kind in the world. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THISDAY • FRIDAY, OCTOBER 23, 2026

FOCUS

Leemon Ikpea: Tinubu Must Resist Pressure, Sustain Bold Reforms

Chairman of Lee Engineering Group, Chief Leemon Ikpea, in this piece, maintains that President Bola Tinubu must resist pressure to abandon his bold economic reforms. He insists that the measures are necessary to reposition Nigeria for sustainable growth. For Ikpea, the Tinubu administration’s reform agenda must be assessed not only by the immediate sacrifices it has imposed on Nigerians but also by its potential to correct longstanding economic distortions, strengthen public finances, improve national security and reposition the country in the global investment community, writes Emmanuel Addeh. Why Tinubu Must Continue with Current Reforms

and prevents communities from participating fully in productive activities. It can also undermine infrastructure development and limit access to essential services.This is what I believe Tinubu is trying to stop,” he maintains. Ikpea, however, believes that state police must be supported by appropriate constitutional and legal safeguards. Questions concerning funding, recruitment, training, operational standards, accountability and respect for fundamental rights must be addressed to ensure that the system serves the public interest. He argues that state police will complement federal security institutions rather than create competing structures. “ The president’s priority, I think, is to sustain the political commitment to the reform while ensuring that the resulting framework is practical, accountable and capable of delivering improved security at the grassroots,” he contends.

kpea reasons that Nigeria cannot continue to postpone difficult economic decisions and expect a different outcome. For decades, the country operated an economic system that placed enormous pressure on public finances, discouraged investment and limited the resources available for critical infrastructure and social services. The consequences were visible in the persistent challenges of inadequate infrastructure, weak public revenue, foreign exchange pressures and the difficulty of creating sufficient employment opportunities for a growing population. The removal of petrol subsidy and the reform of the foreign exchange market marked a significant departure from this pattern. Although the consequences have been difficult for households and businesses, the measures, the businessman points out, have created an opportunity to address structural weaknesses and establish a more sustainable foundation for economic growth. For Ikpea, the important thing is for the government to remain focused on its objectives rather than succumb to pressure to reverse policies whose benefits may take time to materialise. “President Tinubu has demonstrated the courage to take decisions that previous administrations found difficult to implement. These are not easy decisions, and we must acknowledge that Nigerians are making sacrifices. However, we must look at the bigger picture and ensure that these reforms deliver lasting benefits for the country,” he says. He argues that consistency is essential to restoring confidence among investors, who need predictable policies to make long-term commitments. According to him, businesses planning investments in manufacturing, energy, infrastructure and other productive sectors require a clear understanding of the economic environment in which they will operate. For Ikpea, frequent reversals of major policies could increase uncertainty and discourage the very investments Nigeria needs to expand production and create jobs. Therefore sustaining the reforms must involve more than maintaining existing policies, he points out. It requires improving implementation, strengthening institutions, ensuring transparency and establishing mechanisms through which Nigerians can see tangible benefits from the changes, he adds. The government, therefore, must continue to pursue policies that expand economic opportunities while providing targeted support for vulnerable Nigerians. Such an approach, he argues, would help preserve public confidence without sacrificing the objectives of the reform programme.

Move for Better Military Welfare

For a country confronting terrorism, banditry, kidnapping and other security threats, the welfare of military personnel remains a critical national priority. The Tinubu administration’s approval of a salary increase for members of the armed forces, according to the Edo-born entrepreneur, represents an important recognition of the sacrifices made by personnel deployed to protect lives and property. The increase, which took effect on September 1, 2026, provides for adjustments ranging from 30 per cent to 80 per cent across different categories of military personnel. The annual military salary bill is expected to rise from N660 billion to N924 billion, reflecting the government’s decision to commit additional resources to improving the conditions of service. According to him, the demands of military service extend well beyond the ordinary responsibilities of public employment. Personnel deployed to conflict zones, he argued, often operate in dangerous environments, spend long periods away from their families and face the physical and psychological pressures associated with confronting armed groups. Ikpea believes that those who risk their lives to defend Nigeria deserve the support and appreciation of the government and citizens. “Our military personnel are making enormous

Not in Nigeria’s Interest to Return Subsidy

Group Chairman/CEO, Lee Engineering Group and Allied Companies Limited, Chief Leemon Ikpea (L) with President Bola Ahmed Tinubu, during Chief Ikpea’s courtesy visit to the President at Aso Rock Presidential Villa on Tuesday

sacrifices to keep Nigeria safe. Many of them operate in extremely difficult and dangerous conditions, often far away from their families. Improving their welfare is not just a reward for their service; it is an investment in our national security,” he says. He maintains that better remuneration can strengthen morale and reinforce the recognition that the sacrifices of military personnel matter to the country they have sworn to protect. “A government that prioritises the welfare of its security personnel also sends an important signal about the value it places on national security,” he adds. He argues that national security and economic development are closely connected. For this reason, he sees the government’s intervention in military welfare as a welcome step that should be sustained alongside other efforts to strengthen the country’s security architecture.

Relief Through Fuel Discount, CNG

The removal of petrol subsidy has increased transportation costs, putting additional pressure on households and businesses. The government’s efforts to expand Compressed Natural Gas (CNG) as an alternative fuel, he emphasises, therefore represent an important component of its response to the economic difficulties associated with the reforms. Expanding the use of CNG, according to Ikpea, offers an opportunity to diversify the country’s energy mix, reduce dependence on conventional automotive fuels and lower operating costs for transport operators where the infrastructure and economics support its adoption. “This administration has pursued vehicle conversions, refuelling infrastructure and partnerships with private operators to expand access to alternative-energy transportation. These initiatives are intended to encourage transport businesses and individual vehicle owners to consider cheaper fuel alternatives while creating opportunities for domestic investment. The President needs our support,” Ikpea notes. Initiatives such as CNG, alongside targeted fuel discounts and other relief measures, he explains, demonstrate the importance of combining structural reforms with practical interventions to cushion their impact. “Removing the subsidy was a difficult but necessary decision. However, initiatives such as CNG and targeted fuel discounts can help reduce the burden on households and businesses while allowing the country to move towards a more sustainable energy system,” he says. For him, the value of CNG extends beyond the immediate reduction in transportation expenses. The programme could stimulate investment in gas infrastructure, support local engineering and

manufacturing businesses, create technical employment and strengthen the domestic utilisation of Nigeria’s natural resources. He believes that Nigeria should take advantage of its gas endowment to develop an energy system that supports industrial expansion and reduces the cost of doing business. A more affordable transportation system, he states, would also help businesses move goods more efficiently, with potential benefits for agriculture, manufacturing, distribution and retail trade. The government, he says, is also working with private investors to expand the infrastructure required to make alternative fuels commercially viable. Fuel discounts have also been recently launched through NNPC stations nationwide. The ultimate objective of this move, he argues, is to reduce the cost of moving people and goods without recreating the fiscal problems associated with the old subsidy system.

State Police One of Tinubu’s Best Decisions

According to Ikpea, the growing demand for a more effective response to insecurity has spurred the president’s renewed attention to the establishment of state police. The proposal seeks to bring policing closer to communities, strengthen local intelligence gathering and improve responses to threats that vary from one state to another. He explains that Nigeria’s geographical size, population and complex security environment place considerable demands on the existing police system. Communities facing kidnapping, banditry, communal violence and other criminal activities often require rapid responses informed by detailed local knowledge. For Ikpea, the establishment of state police represents an opportunity to address the limitations of a highly centralised policing structure and develop a system better equipped to respond to local security challenges. “Security is fundamental to development. Our farmers must be able to go to their farms without fear, businesses must operate in a safe environment, and communities must have confidence that help will come when they need it. State police can bring security closer to the people if the system is properly designed and implemented, like the president is doing. “A decentralised policing structure could improve intelligence gathering, strengthen community engagement and enable authorities to respond more quickly to security threats within their jurisdictions. Local knowledge can be particularly valuable in identifying criminal networks, understanding community dynamics and preventing threats before they escalate. “Don’t forget, the economic implications are equally important. Insecurity disrupts agricultural production, increases business operating costs, discourages investment

Among the most consequential decisions of the Tinubu administration is the removal of petrol subsidy, a policy that has generated considerable public debate because of its immediate impact on the cost of living. Before its removal, subsidy payments placed a significant burden on public finances, limiting the resources available for infrastructure, healthcare, education, security and other national priorities. The system also created market distortions and opportunities for abuse, while the benefits were not always distributed equitably among Nigerians. Although the transition has been painful, Ikpea believes that returning to the old arrangement would risk recreating the fiscal challenges the government sought to address. “We cannot continue to spend enormous public resources sustaining a system that is not economically sustainable. The removal of petrol subsidy was a difficult decision, but reversing it would mean returning to the same problems that held our economy back. What we need now is to make the reforms work for Nigerians,” he says. “The government’s responsibility is to ensure that the resources freed up by the policy are managed transparently and channelled towards productive investments and interventions that improve citizens’ welfare. And I think that is what the Bola Tinubu government is doing,” he stresses. He believes that investments in public transportation, road infrastructure, electricity, healthcare and education can help improve living standards while strengthening the productive capacity of the economy, while targeted assistance for vulnerable households is also providing relief without recreating the broad fiscal commitments associated with the former subsidy system. The private sector, in his view, must play a central role in this transition. A more predictable economic environment, he explains, can encourage businesses to invest, expand operations and create employment. He also argues that the additional fiscal space created by subsidy removal has produced visible benefits, with more effective use of government resources.

Rising Investor Confidence

Nigeria’s reform programme has attracted renewed attention from international investors and financial institutions, with developments in credit ratings and market classifications providing indications of changing perceptions of the country’s economic outlook. Chief Ikpea says Nigeria’s improving standing with international credit-rating agencies is another indication of the growing recognition of the Tinubu administration’s economic reforms, listing Moody’s, S&P Global Ratings and Fitch Ratings as having all taken positive rating actions on Nigeria. Moody’s revised the country’s outlook to positive in August 2026, retaining its B3 rating, while S&P upgraded Nigeria’s rating from B- to B in May 2026. On October 9, Fitch revised Nigeria’s outlook from stable to positive and affirmed its B rating, citing reforms, stronger foreign exchange reserves and improvements in the country’s external financial position. JPMorgan has softened its disposition to the country.

FEatures

T H I S D AY • FRIDay, OCTOBER 23, 2026

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

Ebonyi Killings: Fresh Revelations Raise Questions Over Soldiers’Actions youths, to remain calm and law-abiding. He assured the community that the government would work with the relevant authorities to ensure that the circumstances surrounding the incident were properly investigated. The governor’s representative also disclosed that the soldier allegedly implicated in the shooting had been taken into custody. According to the state government, an investigation had commenced to establish the facts and determine responsibility. The decision to seal the mining facility represents a significant intervention by the state government as authorities seek to prevent further violence and restore confidence among residents. Also on his part, the Chairman of Ivo Local Government Area, Chief Michael Anyim, also condemned the incident, describing the killings as unwarranted and unnecessary. Speaking on the development, Anyim said the community had previously maintained a peaceful relationship with soldiers deployed to the area. The council chairman appealed to aggrieved youths to desist from further attacks on the mining facility and other acts capable of worsening the situation. He assured residents that the local government would collaborate with the Ebonyi State Government and the Nigerian Army to pursue justice for the victims and their families. Anyim stressed the importance of allowing the relevant authorities to conclude their investigations while maintaining peace within the community.

Abdullahi Mohammed

he atmosphere in Ihetutu community, Ivo Local Government Area of Ebonyi State, remains tense and sorrowful following the alleged killing of two young men by a soldier reportedly attached to Palladium Mining Company, in an incident that has raised troubling questions about the conduct of security personnel deployed to protect mining operations in the area. The victims, identified as 18-year-old Chibuike Elema and 20-year-old Obinna Gideon Akandu, reportedly lost their lives on Sunday after allegedly being shot by military personnel at a location said to be some distance from the company’s mining facility. While the circumstances surrounding the shooting remain the subject of an ongoing military investigation, accounts obtained from grieving families, community representatives and other sources have raised questions about what transpired before the two young men were killed. At the centre of the controversy are allegations that the victims were shot following a disagreement over money allegedly demanded by soldiers operating in the area. However, the precise sequence of events, the motive behind the shooting and the circumstances under which the soldiers encountered the victims have yet to be independently established. Findings gathered suggest that the incident occurred outside the immediate operational premises of Palladium Mining Company, raising questions about the circumstances surrounding the soldiers’ presence at the location. Sources familiar with the company’s operations claimed that the soldiers allegedly involved were not carrying out any assignment authorised by the mining company at the time of the incident. The company had neither deployed the personnel for an undercover operation nor instructed them to undertake any activity outside their designated security responsibilities. These claims, however, remain subject to independent verification, particularly regarding the soldiers’ official deployment arrangements, operational instructions and chain of command. The development has consequently raised questions about whether the alleged shooting occurred in the course of authorised military duties or resulted from actions undertaken independently by the personnel involved. Investigators are also expected to establish whether the soldiers were officially assigned to the location where the shooting occurred and whether any operational instructions were breached. Since the incident happened last Sunday, there have been several misleading reports, which however, encouraged this investigation to ascertain the real story. For the families of the deceased, the tragedy represents an unimaginable loss that has thrown their households into mourning. Mr Donatus Okoro, father of 18-year-old Chibuike Elema, alleged that his son was called from home on Sunday morning to join other workers at the mining site. According to him, the young man had completed his activities and was returning home when the fatal encounter reportedly occurred. Okoro alleged that eyewitnesses informed the family that soldiers attached to the mining company demanded money from the youths before opening fire on them. “But they told the soldiers that they were not with anything. The soldiers raised their guns and shot them in the head,” the grieving father alleged. His account, although emotionally compelling, has not been independently corroborated by the military authorities. Nevertheless, the allegation that money was demanded before the shooting has become a major concern among residents, who are calling for investigators to establish whether extortion or any other unlawful activity contributed to the incident. The second victim, Obinna Gideon Akandu, who was identified as a 20-year-old second-year Economics student of Ebonyi State University, Abakaliki was the son of serving councillor representing Ihetutu community in Ivo Local

Governor Nwifuru of Ebonyi State

Government Area Mr Joshua Akandu. According to his father, the young undergraduate had returned to the community on Friday afternoon following the postponement of his examinations. What was supposed to be a brief visit home ended in tragedy when he reportedly went to the farm on Sunday and was allegedly shot while returning. “My son was innocent. He just went to the farm, and while coming back, they shot him on the road,” Akandu said. The father’s account presents an additional dimension to the incident, particularly regarding the movements of the victims before the shooting. While one family maintained that its son was returning from work, the other stated that the deceased had gone to the farm. These accounts underscore the need for investigators to reconstruct the victims’ movements, identify eyewitnesses and determine precisely how the fatal encounter occurred. For residents, however, the immediate concern remains the loss of two young lives and the need to establish accountability. The killings generated widespread grief and anger among residents of Ihetutu, with women, youths and community leaders demanding an independent and transparent investigation. Some residents alleged that the incident reflected broader concerns about the conduct of security personnel. The community’s demands come amid concerns that unresolved grievances could further strain relations between residents, security agencies and companies operating within the locality. In the aftermath of the reported shooting, tensions reportedly escalated as aggrieved youths descended on the mining facility, destroying property and disrupting operations. Accounts of the disturbance indicated that equipment, vehicles, offices and staff accommodation were affected during the unrest. Some vehicles were reportedly set ablaze, while offices and residential facilities were allegedly vandalised and looted. The destruction further complicated an already volatile situation, raising concerns about the safety of workers, residents and investments in the area. Although the anger generated by the deaths has been widely acknowledged, government officials and community leaders have appealed against retaliatory violence. The attacks on the company’s facilities

also raise separate questions requiring investigation, including the identity of those responsible, the extent of property damage and whether adequate measures were taken to prevent the escalation. Meanwhile, it was also gathered that Palladium Mining Company has commenced efforts aimed at reducing tensions and restoring its relationship with the host community. Sources familiar with the development disclosed that the company was initiating humanitarian and reconciliation measures intended to reach the bereaved families and other affected members of Ihetutu. The intervention is reportedly designed to demonstrate solidarity with the grieving families, address immediate humanitarian concerns and create an atmosphere conducive to dialogue. The company’s priority is to ensure that the unfortunate incident does not permanently damage the relationship it has maintained with the community. The proposed engagement is also expected to involve consultations with traditional authorities, community representatives, youth leaders and relevant government officials. Although details of the humanitarian measures have not been publicly established, sources indicated that the company recognises the importance of rebuilding confidence and ensuring that peace returns to the area. The company is said to be particularly concerned about preserving its relationship with the host community while allowing the relevant authorities to conduct an independent investigation. However, the reconciliation initiative does not diminish the demand for accountability or replace the need for a transparent investigation into the circumstances surrounding the deaths. Ebonyi Government Intervenes, Seals Mining Company The Ebonyi State Government has condemned the killings and announced the sealing of the mining facility pending efforts to restore peace and ensure justice. Governor Francis Nwifuru described the incident as tragic and regrettable, expressing concern over the loss of two young lives. During a government visit to the community, the governor, represented by the Commissioner for Solid Minerals Development, Chief Chinedum Nkah, appealed to residents, particularly the

Military Confirms Investigation Is Ongoing In an effort to obtain the military’s position on the incident, the Commanding Officer of the 24 Support Engineer Regiment at Nkwagu Military Cantonment, Abakaliki, Lieutenant Colonel Ikenna Emmanuel Chielo was contacted. Speaking through a telephone conversation, he confirmed that authorities had visited the scene and that investigations were ongoing. “We were at the scene today, investigation is ongoing, let’s be patient to get the full details,” Chielo said. His response indicates that military authorities are examining the circumstances surrounding the incident. The outcome of the investigation will be critical in determining whether the incident involved unlawful use of force, misconduct or any other offence under applicable military and civilian laws. Unanswered Questions Surrounding the Killings Beyond the grief and destruction, the incident has exposed several issues that require clarification. One major question concerns the exact location of the shooting and why soldiers reportedly attached to a private mining operation were present there. Another concerns the allegation that money was demanded from the victims shortly before they were killed. Investigators will also need to establish whether the soldiers were acting under official instructions, whether any confrontation occurred and what circumstances led to the discharge of firearms. The reported differences in the families’ accounts of the victims’ movements also make it necessary to obtain independent eyewitness testimony and reconstruct the events leading to the shooting. Equally important is the need to determine the precise relationship between the mining company and the military personnel deployed to provide security around its operations. The investigation should clarify the extent of the company’s authority, if any, over the movement and activities of the soldiers, as well as the command structure responsible for supervising their deployment. These issues are particularly significant because the shooting reportedly occurred outside the company’s operational premises. Until the relevant authorities release their findings, allegations concerning the motive for the shooting and the responsibility of individuals or institutions must remain unproven. •Abdullahi Mohammed, writes from Ebonyi

THISDAY • FRIDAY, OCTOBER 23, 2026

POLITY Ofala 2026: How Globacom is Powering the Celebration of Onitsha’s Cultural Heritage By Kayode Akinyemi

nitsha, a city steeped in heritage and Eastern Nigeria's commercial nerve centre, was last week the centre stage of both national and global cultural renaissance and heritage as it hosted the world for the 2026 Ofala Festival, hallmarked by the Iru Ofala and Azu Ofala. The Ofala Festival is a historic annual rite of renewal celebrated by the Igbo people of Onitsha. The high point of the week-long celebrations was the appearance of the Obi in full royal regalia, with the red-cap chiefs (Ndichie), titleholders, and age-grades' procession through the arena to pay homage and pledge allegiance to the king. In the modern era, the traditional ceremonies are complemented by contemporary events like art exhibitions, youth carnivals, lectures, and community medical outreach programs. These additions give the festival modern flavours as well as accommodating newly emerging traditions and services which enrich and enhance communal living in the ancient kingdom. By pure serendipity, the 2026 edition of the Globacom sponsored festival coincided with the 25th anniversary of the reign of Agbogidi, the Obi of Onitsha, Igwe Alfred Nnaemeka Achebe. The 2026 festival was, therefore, a double cultural event in the ancient city. Globacom's partnership with the Onitsha Traditional Council has not only elevated the city's ranking as a centre of cultural excellence and vibrancy, it has also brought economic gains to the people in substantial quantum. Nigeria's telecommunications giant, Globacom, has been the main sponsor of the festival for 15 unbroken years in furtherance of its commitment to cultural preservation and revival. The event presents the cultural face of Onitsha, distinguishing it from the familiar and everyday pulsating rhythm of a vibrant centre of commerce and trade. The 2026 festival was themed “Igba Mbo, Iga N’Iru – Strive and Advance. From Resilience to Progress.” The theme captured the spirit of Ndi Onicha, whose history is defined by resilience, enterprise, adaptation and determination to advance. Providing rationale for its continued association with the city and sponsorship of the Ofala Festival, Globacom said the decision was in tandem with the philosophy that places culture alongside connectivity as instruments of national development. As a matter of fact, the company sees the festival as far more than an annual cultural celebration. It's a living expression of identity, continuity and collective aspiration. The sustained partnership also underscores the telecom giant's belief that preserving heritage and advancing society are not competing imperatives but are mutually reinforcing pillars of a progressive nation. This is the spirit of Globacom's "Never Settle for Less": to honour what is worthy, while continually striving for something greater. Ofala Festival, in its present format, is not only a sacred rite of royal renewal, it has progressively evolved into a platform for cultural affirmation, community engagement and collective progress. As a lover of development, Globacom, through the sponsorship, serves as a catalyst for both social, cultural and economic development in Onitsha Kingdom. The sponsorship is also an expression of practical corporate citizenship and cultural stewardship—an investment in the memory, meaning and continuity of a people. Significantly, the Chairman of Globacom, Otunba (Dr.) Mike Adenuga Jr., in a personal letter to Igwe Achebe, paid a glowing tribute to the Obi on the occasion of the 2026 edition of the Ofala Festival. He commended the revered monarch's wisdom, dignity and exemplary leadership with which he had presided over the affairs of his people over the years. In particular, Otunba Adenuga extolled Igwe Achebe's remarkable ability to preserve the cherished traditions of the past while embracing the aspirations and opportunities of the modern age, noting that such a leadership style had continued to enhance the prestige of the Onitsha Kingdom and earn it deserved recognition far beyond its borders. The Globacom boss expressed delight that through Globacom's association with the Ofala Festival, the

Globacom Chairman, Dr. Mike Adenuga

company has been privileged to make its modest contributions to the preservation, celebration and wider projection of the priceless cultural heritage, stating his satisfaction and joy to join the people of Onitsha and the Igwe each year in showcasing to Nigeria, Africa and the wider world the beauty, dignity and enduring values represented by Ofala. In a foreword to the book written to mark the occasion, Igwe Achebe commended Globacom for keeping the Ofala heritage alive through the sponsorship deal. Specifically, he said the transformation of Ofala Festival from a palace ritual to a world-renowned cultural festival owed a great deal to purposeful partnership with Globacom, pointing out that since 2011, the telecom company had stood with his kingdom as its principal partner, a period of 15 long years of unwavering commitment. The monarch noted that what began as a deeply sacred royal obligation had, under the people's collective custodianship, grown into a festival of national and global significance without losing its spiritual core, as a heritage asset for identity, unity, tourism, youth enterprise, and community ritual. He said instead, what has evolved is the festival's power to speak to contemporary Nigerian wellbeing. As Igwe Achebe presided over the week-long event, the Globacom Chairman prayed for abundant wisdom, strength and excellent health for him, and wished him many more fulfilling years of distinguished service to his people and Nigeria. Above all, he prayed for continued peace, progress and prosperity throughout the Onitsha Kingdom under His Majesty's revered leadership. Globacom recognises that preserving tradition safeguards the intellectual and spiritual architecture upon which the future is built. Its association with

the sponsorship and promotion of major festivals, including Ofala, is rooted in a broader aspiration: to harness the transformative power of connectivity to bridge generations and cultures, while helping Nigeria’s heritage to reach wider audiences at home and across the world. Through the sponsorship, Globacom has elevated the festival into a globally recognized cultural event, attracting tourists, dignitaries, cultural enthusiasts, investors, and media attention from different parts of Nigeria and beyond. The company’s involvement has helped project the rich cultural heritage of Onitsha to the international community while strengthening local participation and pride. Crucially, the economic impact of the festival cannot be overstated. The event creates a quantum leap in local tourism and socio-economic activities. During the festival period, hotels experience massive occupancy, transport operators record increased patronage, restaurants and food vendors enjoy booming sales, while traders and artisans witness unprecedented commercial activities. Fashion designers, makeup artists, event planners, decorators, entertainers, and local craftsmen also benefit immensely from the influx of visitors and spending associated with the celebration. Indeed, the Ofala Festival has evolved into an economic ecosystem that stimulates local enterprise and community prosperity. It provides temporary employment opportunities for the youth population and enhances the visibility of local businesses. Such economic stimulation underscores the strategic importance of cultural festivals as drivers of grassroots development and sustainable local economies. The 2026 Ofala theme, ‘From Resilience to Progress’, shared meaning and form with the

Globacom philosophy. The correlation is obvious in the spirit of resilience, reinvention and forward movement of Ofala and Globacom's progressive journey of connecting Nigerians and democratising access to telecommunications. Globacom is also the headline sponsor of the Ojude Oba Festival, an annual cultural fiesta of the Ijebus, showcasing culture, at its best. It has consistently sponsored the Ojude Oba Festival in the last 21 years as its own contributions to cultural preservation and social continuity. The 2026 edition was held in May this year in honour of the late Awujale of Ijebuland, Oba Sikiru Kayode Adetona, the man who gave it the touch of modernity and its appealing features such as the streamlining of the participation of the various age groups, widening the participation loop to include women and men age grades, introduction of horse ride, institution of prizes, among others. Underlying the significance of the cultural synergy and partnership between Globacom and promotion of culture is the fact that such sponsorships continue to serve as compelling evidence that culture is not a fading relic, but a living force capable of advancing unity, tourism, economic growth and social cohesion. In an era where globalisation often threatens indigenous identity, festivals remind us that any people who preserve their culture ultimately preserve their future. Globacom's nationalistic fervor for the general well-being and prosperity of Nigerians is the reason behind its ongoing national campaign themed "Never Settle for Less", which is a philosophy of progress: development, and seeking to broaden possibilities, deepen impact and move the nation forward. The Onitsha Ofala Festival serves as rites of renewal of the Obi and is similar to the Igue festival in Benin and the Ine, Osi or Ogbanigbe festivals in many mid-West Igbo communities. The term ofala, is derived from two Igbo words - (authority) and ala (land). The festival can be traced back to the 16th Century when Onitsha people emigrated from Benin to the eastern banks of the River Niger presently known as the city of Onitsha and brought with them among other customs, the tradition of monarchy. Some historians also believe the festival is related to the New Yam Festival in Onitsha and the devotion of the king to the safety of his people. The festival marks the end of a period of retreat sometimes called Inye Ukwu na Nlo when the Obi remains incommunicado and undergoes spiritual purification for the good of the community. At the end of the week-long retreat, the Igwe emerges during the Ofala to bless his subjects and say prayers for the community. The Ofala Onitsha starts with a traditional twenty-one-gun salute followed by an all-night Ufie (royal gong) drumming, dancing and other cultural activities. In the afternoon, the Obi's cabinet of chiefs, guests from other communities, age groups, women and youth of the community usually throng the palace grounds or Ime Obi dressed in traditional or ceremonial attires befitting the festival occasion. The royal music or Egwu Ota is played during the entrance of the Ndichie or red cap chiefs who arrive after the gathering of the crowd and bringing along a few of their friends and family members their procession to the palace. The highlight of the festival is the emergence of the Obi in his royal regalia to the cheer of the crowd, a cannon shot announces the entrance of the Obi who is usually dressed in ceremonial robe and carries a bronze sword on his hand, he walks to the sides of the arena or a third of the arena acknowledging the cheers of the gathering. The Obi then retires and subsequently, the red cap chiefs pay homage to him according to seniority, thereafter both the Obi and the chiefs reappear after the firing of another cannon shot. During the second appearance the Obi dances in the arena, something that is rarely seen and his steps cover more distance than the first appearance. Then the visiting chiefs and guests pay homage to the Obi. The festival is also sometimes an occasion for the Obi to honour individuals with chieftaincy titles. •Akinyemi, a Fellow of Nigerian Institute of Public Relations writes from Lagos

T H I S D AY FRIDAY OCTOBER 23, 2026 20 TR

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& RE A S O

Friday October 23, 2026 Vol 27. No 11512

opinion@thisdaylive.com

www.thisdaylive.com

ALWAYS NEVER HIM

The cost of Peter Obi’s politics is often borne by someone else, contends JOSHUA J. OMOJUWA

See page 21

THE LANRE SHITTU EXAMPLE

SEUN AWOGBENLE pays tribute to Lanre Shittu, Chairman of Dele Pharmaceutical Group

See page 21

EDITORIAL

THE LEGACY OF PATRICK DELE COLE

See page 22

Vote for results, not empty promises, urges ABBA DUKAWA

THE NORTH AND THE 2027 ELECTIONS Democracy delivers little when citizens are unsafe, hungry and unable to find work. As Northern Nigeria approaches the 2027 general elections, voters face a choice that goes beyond party loyalty, regional identity or campaign rhetoric: whether to continue rewarding promises or demand measurable performance. The central question is whether political leaders can demonstrate that they have improved people's lives and present credible, practical plans for addressing the region's persistent challenges. Security, the cost of living, employment, education and economic opportunity must become the principal tests of leadership, supported by clear targets, realistic timelines and public accountability. From insurgency and displacement in the North-East to banditry in the NorthWest and poverty and unemployment across the North-Central, millions of people face challenges that cannot be resolved through campaign speeches. Families struggle with rising food and transportation costs, farmers face threats to their livelihoods, young people confront limited opportunities, and communities continue to question the government's ability to protect them. Across parts of Northern Nigeria, bandits, kidnappers and insurgents continue to threaten communities, killing and abducting civilians, disrupting economic activities and forcing families to abandon their homes. These conditions raise serious questions about the effectiveness of security measures and the accountability of those entrusted with public office. The 2027 elections should therefore be treated as a performance review. Voters must ask which leaders have improved security, eased economic hardship, expanded opportunities and strengthened public services—and which candidates can explain, in practical and financially credible terms, how they intend to do better. Fuel Subsidy: A Debate About Survival. Since the removal of Nigeria's petrol subsidy in May 2023, households and businesses have faced higher transportation and operating costs. Although the government has defended the reform as necessary to ease fiscal pressure and redirect public resources towards development, many Nigerians continue to ask when its promised benefits will become evident in their daily lives. In Northern Nigeria, where long distances separate farms, markets, schools and healthcare facilities, higher

fuel prices have consequences far beyond the filling station. Transportation becomes more expensive, food distribution costs rise, farmers face higher production expenses, and small businesses struggle to remain profitable. Low-income households, particularly those dependent on informal employment, small-scale trading and subsistence agriculture, are especially vulnerable. The combined costs of food, transportation, healthcare and education leave many families with little money for other essential needs. Fuel subsidy removal is therefore likely to remain a major electoral issue in 2027. Opposition politicians may promise cheaper petrol, the restoration of subsidies or alternative forms of economic relief, while the ruling party may defend the policy as a difficult but necessary reform. Voters must look beyond these competing arguments and examine the practical consequences of each proposal. The economic debate should focus not only on whether subsidy, removal has improved government finances but also on whether the resulting savings and additional public resources have translated into meaningful relief for households and businesses. The government should explain how the fiscal benefits of its reforms are being converted into better infrastructure, agricultural support, affordable transportation, quality education, accessible healthcare and effective social protection. It should also provide transparent information about public spending and the measurable benefits delivered to vulnerable households. Opposition parties, meanwhile, must demonstrate that their alternatives are economically credible and financially sustainable. Promising to restore subsidies or reduce petrol prices without explaining how the policies would be funded, implemented and sustained

offers voters little basis for making an informed decision. Ultimately, economic reform should be judged by whether it improves living standards, expands productive opportunities and strengthens household financial security—not merely by increases in government revenue or improvements in economic indicators. Insecurity: The North's Most Urgent Challenge. If rising fuel prices threaten household welfare, insecurity threatens lives and livelihoods. Across parts of Northern Nigeria, banditry, kidnapping, insurgency and communal violence have displaced families, disrupted agriculture and trade, and weakened public confidence in the government's ability to protect its citizens. Farmers abandon their land or risk their lives to cultivate it. Traders face dangerous roads, businesses struggle to operate, and parents worry about the safety of their children. Families lose breadwinners, children miss school, and displaced people struggle to rebuild their lives. Insecurity also worsens economic hardship. Agricultural production suffers when farmers cannot safely access their fields, food becomes more expensive when transportation routes are unsafe, and investment declines when businesses face persistent threats of violence. The resulting poverty and lack of opportunity can further expose vulnerable communities to criminal exploitation and recruitment. The security debate ahead of 2027 must move beyond declarations of commitment and announcements of military operations. Voters need evidence that interventions are producing lasting improvements in community safety. Political leaders should be assessed on whether attacks and kidnappings are declining, abducted victims are being rescued, displaced families can return home voluntarily and safely, and farmers can cultivate their land without fear. The public also deserves credible information about investigations and prosecutions involving serious crimes. Candidates should explain how they intend to improve intelligence gathering, strengthen coordination among security agencies, protect vulnerable communities and transportation routes, and provide security personnel with the equipment, training and logistical support necessary to perform their duties. Dukawa writes from Abuja. He can be reached at abbahydukawa@gmail.com.

T H I S D AY

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FRIDAY OCTOBER 23, 2026

The cost of Peter Obi’s politics is often borne by someone else, contends JOSHUA J. OMOJUWA

ALWAYS NEVER HIM In Manchester on Sunday 18 October, Peter Obi told a hall of Nigerians living in Britain what to do about their relatives. “You have people at home in Nigeria today who are begging you for money. Tell them no! Let us put somebody who has proven to be productive.” By Tuesday he had clarified. He said he deeply appreciates Nigerians in the diaspora, that their remittances pay for school fees, hospital bills, rent and feeding, that their sacrifices deserve profound respect, and that he never asked anyone to abandon their loved ones. His message, he said, had been distorted by political opponents. He did not say he had been misquoted. The video exists and he has not suggested otherwise. What he disputed was the meaning, and we are entitled to examine the meaning for ourselves. Let us start with the mechanics of his proposal. A nurse in Manchester sends two hundred pounds to her mother in Lagos for blood pressure medication. Under this instruction she says no, so that her mother feels the full weight of her electoral decision, so that her mother votes differently, so that governance improves, so that one day the transfer becomes unnecessary. Or maybe not, considering the global phenomenon of remittances. The mother is the instrument. The nurse makes the decision. The candidate collects the benefit. However, notice what the prescription does. It locates the pain in the poorest participant, the one with no agency in the transaction, and it asks a working nurse to administer that pain to her own mother on the strength of a promise from a man who will not be present for the conversation. It also assumes that voting the beneficiary candidate will improve the outcomes of governance. It was not only the governing party that recoiled. The Labour Party, the NNPP and the SDP all criticised the remarks. When three opposition parties that have every incentive to stay quiet decide to object, something has gone beyond ordinary partisanship. And this is the point, because the Manchester remark is not an isolated clumsiness. It is a method. His supporters assume he has the right thing to say, until he says something. Go back to the Anambra doctors’ strike that ran for thirteen months under his own governorship. The defence, which he has restated across years, is that it did not affect a great many sick people, that no catastrophe occurred. Nobody died en masse, so the harm was not real. Look at the structure of that argument rather than its content. The suffering is acknowledged and then declared acceptable, because the person declaring it is not the person who bore it. The mother who did not survive childbirth during those thirteen months cannot be

produced as a witness. The patient whose treatable illness turned terminal is not in the room. So the absence of a headline becomes the proof of innocence. It is the same architecture as the Manchester instruction. Somebody else’s hardship, assessed from a comfortable distance, and judged bearable. Then there is the question of what he actually tells people, which varies by room. In one video, he said he had lived in Nnewi all his life. In another, he said he lived in Lagos. And both statements did not leave room to suggest he stayed at more than one location. He seems to forget his assertions, so he sets up contradictions at will. On 24 August, at the Nigerian Bar Association conference in Port Harcourt, he reaffirmed his support for the removal of the fuel subsidy and argued that the government’s mishandling of the savings was no reason to bring it back. On 28 September, at a town hall in Sokoto, he assured his audience that subsidy would return once corruption had been dealt with. Five weeks. Two cities. A yes and a no to a question that requires a simple yes or no. Schrödinger’s subsidy. He will remove it and he will not remove it. A politician is entitled to change his mind. What is owed when a position changes is an account of what changed it. None has been offered. What we have instead is a policy that stays dead in the south and comes back to life in the north, with a condition attached that has no date on it. A man who will give two answers to the simplest question in Nigerian politics is a man telling each room what it wants to hear, and the honest word for that is not nuance. This has cost him a lot of ground as Atiku Abubakar has now firmly established himself as President Tinubu’s main challenger. Consider also the platforms. APGA, then the PDP, then the Labour Party, then the ADC in January of this year, then the NDC in May. Five parties, three of them inside twelve months. Each departure has an explanation, and in every one the party failed him rather than the reverse. But people joined those parties because he was in them. Volunteers, candidates, donors, young people who put their names and money behind a movement. Omojuwa is chief strategist, Alpha Reach/BGX Publishing

SEUN AWOGBENLE pays tribute to Lanre Shittu, Chairman of Dele Pharmaceutical Group

THE LANRE SHITTU EXAMPLE

I am convinced that to build a stronger nation, we must continue to shine a light on the role models, whose lives offer a lesson in what is possible. When we tell their stories, especially to a younger audience, we remind society of the enduring values of success and the role that these outliers have played in shaping the world we live in. You may not have seen or heard him, but chances are that you would have experienced him; that is the enigma that is Dr Lanre Shittu, the Chairman of Dele Pharmaceutical Group. An industrialist, physician, business icon, private sector leader, and above all a philanthropist. Since becoming its chairman, Lanre Shittu has established Dele Pharmaceutical Group, with its two subsidiaries HMA Medical Ltd. and Ayo-Ayodele Pharmaceutical Chemist Nigeria Ltd., as one of Nigeria’s leading medical companies known for producing some of the best medical consumables with quality standards. This especially aligns with his broader work as a physician of global repute with several years’ experience working across different regions, especially Nigeria and the United States. The company’s long list of medical consumables, which ranges from medical-grade cotton wool, syringes, intravenous fluids, and several others, have been essential in treating medical conditions such as dehydration, electrolyte imbalances, shock, fluid replacement therapies, and providing first aid treatment. With Nigeria’s population growth consistently outpacing economic growth and also projected to double by the year 2050, the work that people like Dr. Shittu do in expanding access and quality is essential for democratising healthcare and ensuring that no one is left behind. Aside from healthcare delivery, the manufacturing dimension of Lanre Shittu’s work is even more important. As Nigeria leaps closer towards industrialisation, we must think in terms of value

addition and boost our manufacturing across critical sectors so that we are able to provide jobs at home, save foreign exchange, meet local demands, increase productivity, and grow our economy. Today, our society is better off because of outliers like him, who choose the public good over personal comfort. Across his business segments, there are thousands of Nigerians employed, who are helping to power the business and the growth of the future. Industries like the Dele Pharmaceutical Group are helping Nigeria to build strength at home and reduce dependence on foreign economies for what we have the capacity to produce at home. The success of Dr. Lanre Shittu is also perhaps a testament to his Offa DNA. The Offa people have always distinguished themselves for their enterprise and their ability to turn small businesses into large enterprises. Over the years, Lanre Shittu has also distinguished himself in the area of public philanthropy; through his Dele Shittu foundation, he has made great contributions in the areas of health, education, and community development. Since it was established in 2024, it has carried out over twenty impact projects and more than 10,000 people in underserved communities across Nigeria. The foundation provides a structured platform for him to give back and touch lives directly. He is often quoted as saying his vision of society is to see a society where no one is left behind, and this is why he has created the foundation as a way to give hope to the people who need it the most. His popular quote, by Ralph Waldo, “to know even one life has breathed easier because you have lived," is therefore very instructive. Awogbenle, a development and public policy professional, writes from the United Kingdom. He can be reached via seunawogbenle@gmail.com.

22 4

T H I S D AY FRIDAY OCTOBER 23, 2026

EDITORIAL

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

THE LEGACY OF PATRICK DELE COLE Patrick Cole, journalist, administrator and diplomat, dies at 86

he recent passing of Dr. Patrick Dele Cole at 86 deserves to be memorialised as a significant life of accomplishments and impact on many fronts. Cole left his mark as a profound thinker and successful performer within and outside the country. He was an outstanding public servant, technocrat, diplomat, and presidential counsel under military regimes in the mid1970s and civilian administrations of the 1990s. But of all the roles in this exceptional life, his contributions to the development of the Nigerian print and newspaper industry are arguably the most important. Born on 4th August 1940 in Abonnema, Rivers State, Cole secured a federal government scholarship in 1962 to further his studies abroad. He attended the University of Otago in New Zealand and later University of Cambridge in the United Kingdom, where he obtained a doctorate and spent three years as a fellow. He also taught at the University of Pennsylvania in the United States. In 1976, Cole returned to Nigeria at the invitation of the then military administration and was appointed Managing Director of Daily Times at a time when the federal government held majority equity in both the newspaper published in Lagos and the New Nigerian with head office in Kaduna. Cole brought to his leadership of the Daily Times the best benefits of his American training and cultural exposure. He recruited and brought home two leading US-based Nigerian journalists whose contributions helped to usher in an era of robust and thoughtful journalism from the 1980s onwards. The first was the late Dele Giwa who came from the New York Times. Dr. Stanley Macebuh, a part-time New York Times Editorial Board member and adjunct professor at New York University, was the second. The introduction of the American style Editorial Board transformed the Daily Times from its traditional British orientation to a more robust liberal tradition. The board became the newspaper’s intellectual powerhouse, enabling it to explore and enlarge the confines

of perspective and thought while its members authored enlightened and broad-based columns every day. This contrasted with the typical British tradition where the editor and his features desk wrote the editorials and sourced opinions from the reading public. This innovation marked a significant development in the Nigerian newspaper industry with intellectuals and high caliber journalists attracted to the newsroom. This development came to its full bloom with the founding of The Guardian, a privately owned liberal newspaper under the leadership of both Cole and Macebuh. And with that, those wielding state power came to respect and value newspapers as sources of alternative and reinforcing ideas and perspectives for state affairs. Along also came innovative business ideas for profitability in advertising and circulation. These ground-breaking developments led to the general modernisation of the Nigerian newspaper industry that has persisted till today. As President Bola Tinubu noted in his tribute, Cole’s career reflected the enduring value of dialogue, tact, mutual respect and the pursuit of shared interests in advancing national development and international cooperation: His legacy in journalism and public life remains an enduring part of our national story.” Cole’s impact was, of course, not limited to his practical and galvanising contributions to the transformation of journalism and media publishing in the country. He was also a respected historian and political scholar who published important books on academic history, socio-political structures, and public policy, including the much-quoted Modern and Traditional Elites in the Politics of Lagos (1975). In the public space, he served as Nigeria’s Ambassador to Brazil and Argentina; Special Adviser on International Relations to President Olusegun Obasanjo (1999–2007) and a key member of the ‘Think Tank’ under the military administration before transitioning to media management. Dr Patrick Dele Cole’s was indeed a full and remarkable life of multiple impact that should serve as an inspiration to present and future generations.

His legacy in journalism and public life remains an enduring part of our national story T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO 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

THE ESSENCE OF GOOD NUTRITION

Do you have a favourite food? If so, what is it? Do you like beans, rice, vegetable soup, or yam? Or is it some other type of food that you especially enjoy? Good food is needed for a person to grow well, work hard and stay healthy. In many parts of the world, many common illnesses result from the problem of hunger and poor nutrition. Not having enough nutritious food weakens the body’s ability to resist all kinds of diseases, especially infections. Nutritious food helps prevent disease and also helps the sick body ﬁght disease and become well again. So, when a person is sick, eating enough nutritious food is especially important. Anyone who eats a good mixture of foods, including eggs, vegetables, fruits, and other types of foods, gets all the vitamins he needs. It is always better to eat well than to buy vitamin pills, injections, syrups, or tonics. According to a very valuable healthcare handbook: “Where There Is No Doctor” authored by David Werner

and published by Hesperian Health Guides (www.hesperian.org, “To stay healthy, our bodies need plenty of good food. The food we eat has to fill many needs. First, it should provide energy to keep us active and strong. Also, it must help build, repair, and protect the different parts of our bodies. To do all this we need to eat a combination of foods every day.” However, it is important to note that there is a difference between not eating enough (undernutrition) and not eating right (malnutrition). A person who is weak or sick because he does not eat enough food of any kind is said to be suffering from general malnutrition or undernutrition, while a person who is weak or sick because he does not eat the right kinds of foods his body needs, is said to be suffering from specific types of malnutrition. There are also people who get sick as a result of eating too much of certain foods, like processed and “junk” foods. People who eat a lot of these foods are more likely to have high

blood pressure, heart disease, strokes, gallstones, diabetes, and some cancers. There are many different reasons for hunger and poor nutrition. One main reason is poverty. In many parts of the world, a few people own most of the wealth and the land. They may grow crops like coffee or tobacco, which they sell to make money, but which have no food value. Or the poor may farm small plots of borrowed land, while the owners take a big share of the harvest. The problem of hunger, food insecurity and poor nutrition will continue to exist until people learn to share with each other fairly. There are many different ways to approach the problem of hunger and poor nutrition, for many different things join to cause it. Daniel Ighakpe, FESTAC Town, Lagos State

T H I S D AY • FRIday, October 23, 2026

BUSINESSWORLD R A T E S

MONEY MARKET

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

08056356325, 07034471123

O ctober

S & P INDEX

2 2 , 2 0 2 6

S & P INDEX

EXCHANGE RATE

OPR

25.34%

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23.25%

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595.26

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N1,358/ 1 US DOLLAR*

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*AS AT THUR, October 22, 2026

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Experts Warn against Laxity in Regulation of Private Jets Operation Chinedu Eze

Experts in the aviation industry have attributed the many incidents involving private jet operations in Nigeria to laxity in safety regulation, and have warned against it to avoid air mishap. They warned that if the seeming complacency in safety regulation continues, the country may witness more serious accidents that will damage the reputation of the

country as a safe operational environment. On Thursday, October 15, 20026, a Triton Aviation Challenger jet lost an entire cabin door mid-flight over Abuja before returning for an emergency landing at the Nnamdi Azikiwe International Airport. In recent years, Nigeria, known for its strict regulation of commercial airlines, has recorded many incidents and accidents involving private jets

and helicopters, which include the Flint Aero HS125 accident in Ibadan on November 3, 2023; the Challenger CL-601 runway overrun in Ibadan on January 26, 2024 and the Bombardier Challenger 604 door separation in Abuja on October 15, 2026, involving Triton Aviation. There is also the Eastwind Aviation Sikorsky Crash in Finima near Bonny in October 2024; the Quorum Aviation Bell 206B3 that crashed into

residential building in Lagos in 2016 and the Bristow Helicopters Sikorsky S-76C that was ditched in the Atlantic Ocean in February 2016. Some of these accidents recorded fatalities, especially those involving helicopters. Industry experts attribute it to the flexibility given to private jet operators and poor regulatory oversight by the Nigeria Civil Aviation Authority (NCAA). Industry consultant and

former Rector of the College of Aviation Technology (NCAT), Zaria, Captain Samuel Caulcrick, told THISDAY that commercial airlines on schedule service face stringent regulatory scrutiny than those in general or business aviation. “There is a critical structural reality in the aviation industry, whereby commercial passengers disproportionately subsidise the operational costs of the

shared aviation infrastructure; hence it receives more scrutiny from the regulator than private jets. While all civil aircraft remain subject to strict safety, airworthiness, and competency regulations, the funding mechanisms and regulatory oversight frameworks differ drastically between commercial airlines and business aviation,” Caulcrick said.

The story continues online on www.thisdaylive.com

L-R: Nigerian High Commissioner to the United Kingdom, Aminu Muhammad Dalhatu; Permanent Secretary, Federal Ministry of Interior, Dr Magdalene Ajani; Permanent Secretary, UK Home Office, Simon Ridley; Permanent Secretary, Federal Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed and British Deputy High Commissioner, Vicky Seymour at the annual UK-Nigeria Migration, Justice and Home Affairs Dialogue in London… recently

NIMASA Strengthens Cabotage Enforcement, Detain Defaulting Vessels Oluchi Chibuzor

The Nigerian Maritime Administration and Safety Agency has conducted a targeted enforcement operation code named Operation Sea Guardian in order to enforce compliance with maritime regulations in Nigeria waters. The operation which focused on vessels of interest identified through

intelligence and surveillance profiling led to the arrest and detention of several vessels for nonconformity including MT HOLMES, MT FUJAIRAH ENERGY, JS GRATITUDE, MT BORA within the Lagos maritime domain. Some of the vessels which have regularised their infractions have since been release. Operation Sea Guardian was conducted as a follow-

up enforcement initiative aimed at strengthening regulatory compliance, verifying cabotage obligations, assessing surcharge and levy compliance, and ensuring adherence to applicable maritime regulations. It deployed Deep Blue assets to help track, board, inspect, and verify the operational status of vessels identified through intelligence reports

and compliance indicators through effective inter-agency cooperation among NIMASA enforcement personnel, the Nigerian Navy, the Maritime Guard Command and C4i intelligence personnel. Through this intelligencedriven process, vessels assessed as having a high likelihood of defaulting on cabotage obligations were identified and prioritized

for further scrutiny. These vessels were subsequently incorporated into a broader Target Bank that had been established during the first enforcement operation. The updated Target Bank provides a consolidated repository of vessels of interest and serves as the primary reference for planning and executing the enforcement activities, ensuring that operational

resources were focused on high-risk targets. Reacting to the development, the Director General of NIMASA, Dr. Dayo Mobereola emphasised that such operations are going to be more frequent and that defaulting operators would face the full wrath of the law.

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, O c t o b e r 2 2 , 2 0 2 6 BONDS Description Price ^13.98 23FEB-2028 ^21.00 20MAR-2028 ^14.55 26APR-2029 ^14.55 26APR-2029 ^18.50 21FEB-2031

97.80 106.62 106.08 97.82 105.99

Change Updated Time (%) October 0.00 22, 15.78 2026 October 15.70 0.00 22, 2026 October 16.26 0.00 22, 2026 October 15.60 0.00 22, 2026 October 16.50 0.00 22, 2026

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FRIday, October 23, 2026 • T H I S D AY

BUSINESSWORLD

Air watch

Ve r i t a s K a p i t a l A s s u r a n c e Announces N3.04bn Profit in 2025

Ebere Nwoji

Veritas Kapital Assurance Plc, has announced 286 per cent increase in its Profit After Tax (PAT), which grew from N1.634 billion in 2024 to N3.046 billion in 2025. The Company’s Chairman, Mr Babatunde Irukera, stated this at the 49th Annual General Meeting (AGM) of the company in Abuja. Irukera also said the company’s Profit before Tax (PBT) rose to N3.156 billion in 2025 from a negative position of N1.485 billion reported in the previous year, indicating a growth of 313 per cent. According to him, the underwriter posted a Gross Premium of N23.733 billion for the 2025 financial year,

representing 0.2 per cent growth from 23.694 billion recorded in 2024. He announced that the Insurer’s shareholders equity grew by 27 per cent, from N11.917 billion in 2024 to N15.173 billion in the year under review. Irukera however revealed that the company’s insurance revenue contrasted slightly by 3 per cent to N22.602 billion in the year under review, from N23.330 billion in 2024. “Total assets also dipped by 10 per cent from N33.060 billion in 2024 to N29.877 billion in 2025. 2025 presented both trials and opportunities for the insurance company, as it navigated through challenging economic landscape. In spite of these

uncertainties, Veritas Kapital Assurance demonstrated resilience and strength in its core businesses,” he said. The chairman further lauded the successful recapitalisation of the company in line with the minimum capital requirements prescribed under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. He said the milestone has substantially strengthened the company’s capital base, enhanced its underwriting capacity and improved its financial resilience. “Recapitalisation has positioned us to compete more effectively in an increasingly dynamic and capital-driven insurance market,” Irukera said.

Onipe, Paul-Ugochukwu Take Leadership Roles at Air Peace Chinedu Eze In a strategic move to strengthen leadership capacity, deepen operational expertise and sustain its growth trajectory, Air Peace has elevated Captains James Adaviruku Onipe and Ikechukwu Paul-Ugochukwu to the positions of Director of Flight Operations (DFO) and Chief Pilot (CP), respectively. Effective November 1, 2026, the airline said the appointments underscored the airline’s commitment

to developing experienced aviation professionals, strengthening its leadership structure and sustaining operational excellence. Captain Onipe, an accomplished airline pilot with almost two decades of experience across multiple aircraft fleets, currently served as Air Peace’s Embraer 145 Fleet Manager and Trainer/Check Airman. His experience spans flight safety, crew proficiency, operational efficiency and regulatory compliance. Similarly, Captain Paul-

Ugochukwu brings 22 years of aviation industry experience to his new role. He currently serves as a Boeing 777 Type Rating Instructor and Check Airman, contributing to pilot training, technical proficiency and the maintenance of operational standards. The appointments follow the elevation of the outgoing Director of Flight Operations, Captain Augustin Kamano, and former Chief Pilot, Captain Martin Okunpolor, to higher positions within the Air Peace Group.

Ekiti; United Nigeria Airlines to Activate Cargo Operations United Nigeria Airlines has said it plans to begin cargo operations at Ekiti Airport in January, and hopes to introduce daily passenger flights to the state soon after. This was disclosed by the

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)

airline’s Executive Chairman, Prof. Obiora Okonkwo, at the unveiling of Reeve Energy Limited aviation fuel tank farm facility at the airport recently. Okonkwo said cargo aircraft could begin moving goods out of Ekiti to other parts of Nigeria and to international destinations such as London, adding that the airline will be the first to carry commercial cargo once the state is ready. He also said the airline would soon begin daily flights to the airport. He revealed that United Nigeria remained the secondlargest consumer of aviation fuel in Nigeria, after Air Peace, saying that this would benefit the new fuel facility, since a steady supply of fuel would serve the airline’s growing operations at the airport. On how they started operation in Ekiti, Okonkwo said that the airline had not

applied for or lobbied for the partnership, and that it had not paid any bribe. According to him, the state government conducted its own due diligence, compared the airline with others in Nigeria, and approached it because of its fleet and operations. He also said the airline had accepted reduced passenger loads, carrying 40 passengers rather than 50 on some flights during a period of low demand, which he described as a sacrifice made out of trust in the partnership and the government’s commitment. “We did not apply for this partnership. But if the government did their due diligence, found us worthy and capable of serving them, and approached us, I was very touched. And thank God the deal worked. And thank God we are part of what is happening today,” he said.

A i r Watch

The Goldmine in Calabar Carnival

Chinedu Eze The now globally acknowledged Calabar Carnival, Africa’s biggest street party, has turned into a yearly goldmine for Cross River State, as the state projects that it will generate over N25 billion from this year’s carnival. This is in addition to the creation of thousands of jobs and return on investment to the private sector that are committed to the month-long festival, year on year. Last year, the festival generated about N19 billion socio-economic returns to the state and this year, with many more countries indicating interest to attend the party, N25 billion may be a conservative projection. The carnival, which draws both domestic and international visitors, is expected to attract 700, 000 to one million visitors this year. The festival ranks among top global carnivals, attracting international diplomats, global media, corporate sponsors like banks, communication companies and major manufacturers of consumer goods. At the carnival’s first dry run, THISDAY spoke with the Chairman, Calabar Carnival, Gabe Onah, who explained that the first dry run is first rehearsals, which involved testing the systems, engineering the routes and activating the routes. “The dry run is an attempt to showcase an opportunity to be out there and it is a day out for the families. Just as we finished engaging the family there: father, mother, children, they were walking on the street. And it brings me to the theme of this year’s carnival: Rethinking our Collective Destiny. We are one people, one humanity, with one love that conquers all. Of the three virtues of humanity that makes man great, love is the greatest they say,” Onah said. Since its inception, the carnival has created jobs for youths, mothers, fathers and all who could contribute anything to the festivals. Cross River, known for its hospitality, easily adapted to providing accommodation to people from diverse backgrounds who come from different parts of the world. The youth get engaged in designing and producing the costumes, exhibiting usual artistry in preparing the props, the insignia, the cavass and all other things needed for the carnival. No state in Nigeria has ever created jobs for the teeming number of youths as Cross River does every year with the biggest street party in Africa. The Chairman, Calabar Carnival explained, “Our highest number has been 52,000. Each

band is at least 10,000 strong. But that is being filtered now as we moved since COVID-19. Most of the adjudicators you see there are professors in the universities. The University of Calabar alone this year, has over 15 graduates of Carnival Arts. They staged a live carnival float in the university, which I have experienced. We were called in as adjudicators and observers. The entire element of carnival was in display. And we gave them kudos.” Onah also disclosed that different countries have been engaging with the Cross River State government because of the carnival. It was because of the large turnout of foreigners that prompted the organizers of the carnival to introduce Diaspora Band, which served as a massive, unified group bringing global participants together. In 2025, there were many individual participants from overseas, including Nigerians in the Diaspora. Many countries were also represented and these include the United Kingdom, the United States; countries in the Caribbean, Europe and Middle East. In fact, it was reported that the Cross River State Governor, Senator Bassey Otu, confirmed that 71 international embassies applied for and indicated explicit interest in participating and sending foreign dignitaries to the 2025 celebrations. And more are expected to participate this year. According to Onah, the Federal Ministry of Tourism is working with the organisers of this year’s carnival. “Additional three countries have offered to come because we are rejigging our international carnival component. We want the countries now to come and we will do hospitality. You will see the result and I am happy that you are the first to observe the first dry run for the year,” Onah told THISDAY. The Chairman of Calabar Carnival also said that the event has boosted tourism in the state. Cross River has one of the most serene environments in Nigeria. It has the famous Obudu Mountain Resort, Afi Mountains Wildlife Sanctuary, Cross River National Park, spectacular waterfalls and many more. Onah said: “Incidentally, I was the pioneer special adviser on tourism in the state. My entry point was tourism. Carnival is a product of tourism. And if you are part of our Akwaaba family, the naija7wonders family, Carnival Calabar is rated as one of our most intangible tourism products in the country. The story continues online on www.thisdaylive.com

FRIday, October 23, 2026 • T H I S D AY

BUSINESSWORLD

Interview

Boidin: Nigerian Breweries’ Ambition is to Source Raw Materials 100% Locally Managing Director, Nigerian Breweries Plc, Thibaut Boidin in this interview with Kayode Tokede discussed the multinational company’s ambition to source its raw material locally, the 80th anniversary celebration and plans to expand the scope of the brewery sector with key industry’s 10-year master plan coming to life. Excerpts What does the 80th anniversary milestone mean for you as a company? t means a great deal to us because we have been part of 80 years of Nigeria’s history and have successfully navigated many economic cycles and periods of volatility. For us, the fact that we pioneered this industry, helped shape it and have remained its leader after eight decades is something we are incredibly proud of. Beyond celebrating the past, this milestone is also about the future. Over the years, we have seen companies come and go in response to various challenges, but Nigerian Breweries has remained committed to Nigeria. We believe strongly in the country’s long-term potential. So, for us, this anniversary is a celebration of 80 years of legacy and the beginning of the next chapter in our journey.

connection between consumers and brands. We are present across beer, malt, spirits and wine, and we continue to see strong affinity for our portfolio across different consumer segments. After 80 years in the country, Nigerian Breweries is deeply rooted in Nigerian culture, and that gives us confidence in the future.

Looking back over the last 80 years, how would you describe NB’s journey and evolution to date? It is a remarkable history. First, because we pioneered the brewing industry in Nigeria. We established one of the first breweries in the country in Lagos in 1946, and since then we have continued to shape and lead the industry through different economic and business cycles. Secondly, our contribution has gone beyond business. Nigerian Breweries has played an important role in supporting economic growth, creating jobs and contributing to communities across the country. We have a footprint that is unique within our industry. Across the years, we have intentionally invested in and supported communities wherever we operate. The third dimension is what our brands represent. Through our portfolio, we have created moments that bring people together, celebrate friendship, family and shared experiences. That is very much aligned with the purpose of both HEINEKEN globally and Nigerian Breweries locally. This is reflected in our 80th anniversary theme, “Together Every Moment”;. It is a celebration of the role our brands have played in bringing people together and creating memorable moments across generations. What does that theme have to do with your brands, and what does it mean going into the future? Many companies celebrate their anniversaries by focusing on themselves. We wanted to take a different approach. We wanted to celebrate with Nigerians. That is what inspired the theme ”Together Every Moment”.If you look at the last 80 years, our brands have been part of countless moments in people’s lives. Whether it is a family celebration, a wedding, a sporting event, a gathering of friends or simply everyday moments at home, our products have often been present. Maltina has accompanied generations of families. Our beer, spirits and wine brands have been part of celebrations and memorable occasions. So the theme is really about going beyond celebrating a company. It is about celebrating Nigerians and recognising the role our brands have played in their lives over the years. NB has survived several economic cycles, including recessions, currency instability, inflation and policy changes. What lessons from the past 80 years are most relevant to today’s management? The first lesson is leadership. If you operate

B oid i n in a country as dynamic and sometimes volatile as Nigeria, you need leaders who can navigate uncertainty and see opportunity where others see challenges. A good example is what happened decades ago when access to imported barley became constrained. Barley is a critical ingredient in brewing beer and producing malt beverages. Instead of seeing that as a limitation, our predecessors saw an opportunity to innovate. That led to the development of the local sorghum value chain, and today some of our products are brewed using locally sourced sorghum. One of the biggest lessons is that strong leadership turns challenges into opportunities. The second lesson is the importance of financial resilience. A few years ago, several companies struggled with the difficult economic environment. We made the decision to stay because we believe in Nigeria’s future. What we learned is that businesses must build a strong financial foundation that enables them to grow during good times and remain resilient during difficult periods. Over the last two years, we have worked hard to strengthen our financial position. Today, we have significantly improved our cash position, eliminated our debt obligations and created the flexibility to invest in future growth. In a volatile environment, cash generation and financial discipline are critical. The third lesson relates to adaptability. Every time we have gone through a crisis, the company has emerged stronger. This latest period is no different. We have become a more agile organisation, quicker to respond, quicker to make decisions and better equipped to seize opportunities.

the benefits of all these reforms? That is an important question. At the end of the day, our consumers are Nigerians. They are the people who buy and enjoy our products, and we are very conscious of the pressure many households continue to face. Disposable income remains one of the biggest challenges in the market today. However, we believe many of the reforms being implemented are moving the economy in the right direction. The key question is how quickly the benefits translate into improved purchasing power and better living conditions for ordinary Nigerians. We remain hopeful about the future and optimistic that the foundations being laid today will support stronger growth over time.

Given the current economic realities, including double-digit inflation, do you still see Nigeria as an attractive market for business? Absolutely. If you take a step back and look at countries with the greatest long-term potential, population growth is one of the strongest drivers, especially in fast-moving consumer goods. Nigeria has a population of more than 240 million people and remains one of the fastest-growing countries in the world. It is projected to become one of the most populous countries globally in the coming decades. For our industry, that represents a significant opportunity. The second dimension is that we believe the brewing industry still has substantial untapped potential. Consumption levels remain below those of many comparable markets, suggesting significant room for growth as economic conditions improve. Very few countries combine this level of When are Nigerians going to feel demographic growth with such a strong

What would you like NB Plc to be remembered for when it celebrates its 100th anniversary? I would like us to continue being known for what we are known for today. For 80 years, we have shaped, led and innovated within the industry. We have gone beyond business by supporting communities, building value chains and contributing to Nigeria’ s development. Our value chain stretches from agriculture to manufacturing, logistics, retail and hospitality. It supports thousands of businesses and livelihoods across the country. My aspiration is that we continue to do this, but at an even greater pace. As an industry leader, our responsibility is not only to grow our business but also to help unlock the full potential of the industry. The second aspect is our people. Nigerian Breweries has built a reputation for attracting outstanding talent and developing leaders across functions, whether in finance, supply chain, sales, marketing, corporate affairs, legal or digital and technology. My dream is that we continue to build a winning culture, strengthen our capabilities and remain one of the most attractive employers in Nigeria. 2025 was a turnaround year for NB. What were the key steps taken to return the company to profitability? Three factors played a critical role. The first was the rights issue. HEINEKEN and our shareholders demonstrated strong confidence in Nigerian Breweries by reinvesting in the business. That decision significantly strengthened our balance sheet and accelerated our recovery. The second factor was relentless focus on productivity and cost management. Our teams did an excellent job optimising costs and improving efficiencies across the business despite a challenging operating environment. The third factor was our focus on winning brands. We became more deliberate about where we allocate resources and investment. Brands such as Heineken, Desperados, Maltina and others have responded strongly to that focus. Today, we have a much stronger financial position, improved cash generation and the ability to fund growth from within the business. That represents a significant transformation compared to where we were only a few years ago. There was a 9% increase in revenue growth in H1 2026. What has been the major driver of revenue growth so far this year? The quality of growth is different this year. Last year, a greater portion of growth came from pricing, largely due to the inflationary environment. This year, we have been very conscious of affordability and the pressure consumers are facing. We have therefore used pricing much more selectively. The story continues online on www.thisdaylive.com

T H I S D AY • FRIday, October 23, 2026

BUSINESSWORLD

interview

FAAN’s Envisioned Airports of the Future Chinedu Eze writes on the vision of the management of Federal Airports Authority of Nigeria unveiled recently at the World Aviation Festival in Lisbon, Portugal and how the agency plans to actualise it

hen the Managing Director/ Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Onabanjo-Kuku, took the stage at the World Aviation Festival in Lisbon, she brought more than a policy brief—she carried the weight of a nation’s aviation ambitions and the expectations of millions of Nigerian passengers. Her message was clear: Nigeria’s airport modernisation must be purposeful, inclusive and rooted in the realities of the Nigerian people. According to the Chief of Staff to the Managing Director of FAAN, Osas Amadin, with passengers drawn from more than 250 language communities, Nigeria presents a unique challenge for airport modernisation. So, FAAN’s strategy must account for linguistic diversity, varying levels of digital literacy, accessibility requirements and the distinct needs of different passenger segments. As Onabanjo-Kuku emphasised, the objective is not simply to deploy advanced technology, but to implement fit-for-purpose, user-centric and operationally effective solutions that improve the passenger journey across age groups and demographic profiles. Speaking during the panel session, themed: ‘Defining the Airport of the Future—Technology, Partnerships and People’, Kuku outlined several strategic priorities shaping Nigeria’s airport ecosystem. Purpose-Driven Aviation Funding FAAN continues to advocate for a stronger link between airport-generated revenue and reinvestment in critical aviation infrastructure. Passenger-related charges should support their intended objectives—aviation security systems, terminal infrastructure upgrades, airside facilities and landside transport improvements. This approach, the Managing Director of FAAN said is essential to strengthening infrastructure sustainability, improving service delivery, and ensuring that aviation-sector revenue contributes meaningfully to the airports’ long-term operational and capital requirements. Multimodal Connectivity and Accessibility Onabanjo-Kuku said the integration of airports into wider urban transportation networks remains a critical component of airport development. Abuja’s existing rail connection provides a foundation for improved landside accessibility, while Lagos is advancing plans for a modernised rail system with five stops across the Murtala Muhammed International Airport complex. The proposed connectivity is intended to facilitate passenger movement between terminals and improve access to cargo facilities. Such multimodal integration can reduce dependence on road transport, improve journey-time predictability and support more efficient movement of passengers, airport personnel and freight. Modernisation and Safety Assurance Over the past three years, Nigeria has invested significantly in strengthening airside infrastructure across its primary international airports. Key interventions include resurfacing runways at Lagos, Abuja, Port Harcourt, Kano, Enugu, and Maiduguri; extending runways at two airports; and improving airfield lighting systems. These interventions are fundamental to maintaining pavement integrity, enhancing runway operational readiness, improving airfield visibility and supporting compliance with applicable aviation safety and operational standards. Sustained investment in airside

airport, is being completely gutted. We are not just expanding Terminal 1, we are making it a lot more efficient,” she stated. Technology as Strategic Imperative A central theme of the discussion was that airports cannot deploy technology through a uniform, one-size-fits-all model. Its effectiveness depends on the operating environment, passenger demographics, infrastructure maturity and the specific challenges each airport is designed to address. As Onabanjo-Kuku emphasised, technology must be accessible, intuitive and responsive to the needs of the people it serves. This principle should inform the deployment of passenger information systems, self-service technologies, digital processing solutions and other airport automation initiatives.

infrastructure is also necessary to accommodate evolving aircraft operational requirements and maintain reliable airport operations. Equitable Resource Allocation The Managing Director of FAAN noted: “Nigeria’s airport network presents a distinctive capacityplanning challenge. Approximately 80 per cent of national airport traffic is concentrated at three airports, with Lagos accounting for an estimated 68 per cent of total traffic. While this concentration reinforces the need for targeted capacity expansion and operational optimisation at high-volume airports, FAAN must also balance demand-driven investment with the broader objective of maintaining infrastructure and service standards across the national airport network. Accordingly, continued attention to the other 19 airports, alongside the five airports supported by the Authority, reflects the importance of a coordinated network-development strategy that considers regional accessibility, economic development and the long-term viability of airport infrastructure beyond the busiest hubs.” Passenger Processing Efficiency Onabanjo-Kuku stated that the comprehensive rehabilitation of Lagos MMIA Terminal 1 is a key component of Nigeria’s airport modernisation programme. The works include reconfiguring Immigration and Customs counters, modernising technology, and upgrading associated infrastructure to enhance passenger processing and the overall terminal experience. “Operationally, effective terminal rehabilitation should improve passenger-flow management, streamline processing interfaces, reduce congestion at critical touchpoints, and better integrate technology into terminal operations. The ultimate objective is to create a more functional, resilient and passenger-responsive terminal environment while supporting the

operational demands of one of Nigeria’s most significant international aviation gateways. In her own words, “In the last three years, we have focused on rehabilitating our major airports and the primary international airports. For Lagos specifically, Terminal 1, as the flagship

Building Future-ready Amadin also stated that discussions at the World Aviation Festival reinforce the need for an integrated approach to airport development—one that combines digital transformation, infrastructure renewal, sustainable financing, multimodal connectivity, safety assurance, and inclusive passenger experience design.

The story continues online on www.thisdaylive.com

This

Weekend

T H I S D AY • FRIday, october 23, 2026

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

07010510430

Weekly Magazine UTH

& R E ASO

Folajogun Akinlami: The

Broadcaster Turning a Lifetime of Disability Advocacy into Inclusive Fashion

T H I S D AY • FRIday, october 23, 2026

Cover

Folajogun Akinlami: The Broadcaster Turning a Lifetime of Disability Advocacy into Inclusive Fashion Long before she ever sketched aT-shirt, Folajogun Akinlami was dressing a wound in how society sees disabled women. A polio survivor with a physical impairment affecting her right leg, the broadcaster behind Beyond Challenges and founder of the Differently Abled Foundation has spent her career making space where there was none. It started in a radio studio in Ondo State. Then it became a TV show, a foundation, a fellowship inWisconsin, three books, two films and a master’s degree in Nottingham. MARY NNAH examines how Nottingham-based Nigerian broadcaster Folajogun Akinlami is bringing her lifelong work on representation, self-worth and belonging to a more personal space, the wardrobe, through her new inclusive brand Let Love Lead, a line ofT-shirts and activewear for every body

n air, on the page and on screen, Folajogun Akinlami has spent years asking how visibility feels. With Let Love Lead, her new collection of T-shirts and inclusive activewear for every body, she is asking it where it matters most, in the fitting room. The Nottingham-based Nigerian broadcaster, author and disability advocate is turning visibility into something you can wear. For Folajogun Akinlami, fashion was never going to be just about fabric. To this end, Akinlami, who writes under the name Vickie Banks, is preparing to launch Let Love Lead, a new clothing collection of T-shirts and activewear that extends a creative career devoted to inclusion, representation, self-worth and belonging. “I have spent my whole career talking about inclusion,” Akinlami says. “Let Love Lead is me deciding that inclusion also has to be something you can put on in the morning. It has to live in your wardrobe”, she noted. It is a natural next step. For years, Akinlami has explored the same questions through broadcasting, books, music, film and the Differently Abled Foundation. Let Love Lead brings that conversation into a more intimate, everyday space: how we dress and how we allow ourselves to be seen. Wearing Visibility A polio survivor with a physical impairment affecting her right leg, Akinlami has drawn on her own lived experience to question how disabled people are seen and whose lives receive attention. Much of her creative work has addressed the space available to disabled women in public life, in relationships and in culture. Let Love Lead takes that concern into the everyday experience of dressing and being visible. “I know what it feels like to walk into a shop and not see yourself anywhere,” Akinlami says. “Not on the mannequin, not on the poster, not in the sizes. Let Love Lead started from that wound, she said. The collection’s launch campaign says it all without saying too much. Women of different ages and body shapes appear in coordinated activewear in several colours, moving, laughing, modelling together. Its message - inclusive activewear for every body - places representation at the very centre of the brand’s introduction. “We did not cast models; we cast real life. Different ages, different bodies, different stories. Because every body deserves activewear, not just some bodies,”, she explained. The ambition is deliberate: to make room for people who may not recognise themselves in conventional fashion advertising and to encourage confidence in how they present themselves. In a market that often tells women to shrink, Let Love Lead invites them to belong. A History of Being Heard That ambition has a history that long predates the clothing rail. Long

Models in Let Love Lead Inclusive Activewear

before the launch, Akinlami was a familiar voice and face in Nigerian television and radio. Her career includes presenting and producing entertainment programmes at the Ondo State Radiovision Corporation and Orange FM. At OSRC, she also served as Head of the Entertainment Unit and Secretary of the Programmes Department, contributing to programme reviews and broadcast-content standards. Working across both entertainment and public-interest programming gave her a rare skill: reaching audiences through familiar cultural forms while carrying a deeper message. That was evident in her disabilityfocused programme Beyond Challenges, which brought the achievements and experiences of people with disabilities into public discussion. Rather than treating disability as the whole of a person’s identity, the programme made space for careers, ambitions and participation in society. Her current platform, Folajogun Akinlami TV, continues that work through digital broadcasting and film. Beyond and Above Challenges develops her long-standing interest in the lives and achievements of people navigating barriers, while Hanging with Diasporans brings conversations about Nigerian and diaspora experiences to online audiences. Together, these programmes provide a setting for discussions that connect individual experiences with wider social questions. Advocacy Beyond The Screen In 2018, Akinlami established the Differently Abled Foundation in Nigeria. The organisation brings a community dimension to the concerns explored in her creative work, advocating inclusion and opportunities for people with disabilities. The relationship between her broadcasting and foundation work is direct: public storytelling can draw attention to exclusion, while community advocacy addresses how people experience it beyond the

screen. “The Foundation taught me that advocacy cannot stay on screen. It has to touch lives on the ground,” Akinlami noted. Her international experience deepened that connection. In 2019, she was selected as a Mandela Washington Fellow at the University of Wisconsin-Madison. During that period, she volunteered at Gigi’s Playhouse, a Down syndrome achievement centre. Her experience there became the subject of Fola and Haley: A Friendship Story, published by Wisconsin Life in January 2020 and credited to Akinlami and producer Karl Christenson. The contribution explored friendship and self-perception through her connection with a young participant at the centre. Writing Her Own Life The same willingness to examine personal experience runs through her writing. Her book Stolen Paradise explores life, love and disability; themes that also featured in a discussion documented in the University of Wisconsin-Madison’s 4W Initiative 2020 progress report. Writing as Vickie Banks, Akinlami later developed her autobiographical work in Phoenix: A Journey of Rebirth and Resilience, returning to questions of identity, relationships, and rebuilding a life. “I write because disabled women are rarely allowed to tell their own love stories, their own motherhood stories. I had to write mine, so others could know they can own theirs too”, Akinlami said. Her subsequent manuscript, The Child I Chose, carries that autobiographical journey into motherhood. Across these works, the connecting subject is consistent: a woman’s right to describe her own life in its complexity. Disability sits alongside intimacy, disappointment, hope and family, giving readers a fuller account of experiences that public discussion can too easily reduce to a single label. From Soundtrack to Screen Music and film form another part

of that creative history. Akinlami’s work includes Ariwo Oja, a music project connected with her screen work. She co-produced Ariwo Oja Parts 1 and 2 and contributed the soundtrack. Those credits brought her musical and production work together, giving her another way to reach audiences through popular entertainment. Her later executive-producer credits include Pendulum and Ile Binukonu, released through her developing film platform in 2026. Enough is a further executiveproducer project awaiting release. The films broaden her portfolio beyond disability-focused programming, and that broadening is itself a statement: her participation in entertainment also reflects the place she claims for disabled creatives as producers of a range of stories, not just one kind of story. Her academic work has examined related questions. She completed a master’s degree in Youth Work and Leadership Practice at Nottingham Trent University, researching the self-perception of women living with physical disabilities in Nigeria. That subject connects closely with the issues of visibility and identity running through her books, broadcasting and now, her clothing campaign. Why Clothes Matter Let Love Lead gives these long-held concerns a commercial expression. “For me, this is not a fashion brand; it is a statement. That love should lead how we see ourselves, how we design, how we include. If we let love lead, we will make room for everybody,” Akinlami said further. Clothing is personal, but the images used to sell it also communicate powerful assumptions about who belongs. By choosing inclusive representation as the starting point for the brand, Akinlami brings her advocacy into practical decisions about how a collection is presented and who is invited to see themselves wearing it. The new line also marks a further stage in her work between Nigeria and the United Kingdom. Her career has moved from regional broadcasting to community advocacy, international exchange, publishing and online production. The formats have changed, while her interest in people’s ability to participate and define themselves has remained visible. As she prepares to introduce Let Love Lead, the connection between the collection and her earlier work gives the launch its wider context. The clothing belongs to an ongoing creative practice in which representation is a practical question: whose story is told, whose image is shown, and who has the opportunity to create. For Folajogun Akinlami, the next expression of that work will be something people can wear - inclusive activewear for every body, made to let love lead.

T H I S D AY • FRIday, october 23, 2026

features

Ogunsan @ 50: The ‘Civilian General’s’ Journey of Faith, Family, Leadership and Service For the Executive Secretary and Chief Executive Officer of the Lagos State Security Trust Fund (LSSTF), Dr. Ayodele Ogunsan, turning 50 was not just an opportunity to celebrate another milestone but to reflect on a journey shaped by faith, family, relationships and service. Chiemelie Ezeobi writes that the recent launch of the book Dr. Ayodele Ogunsan: The Civilian General – The Man, His Wits, Passion, Influence brought together political leaders, security chiefs, business executives, traditional rulers and family members whose tributes offered insights into his life, leadership, contributions to public service, security collaboration, business and philanthropy

ributes to Dr. Ayodele Ogunsan’s humility, leadership and contribution to security collaboration in Lagos recently took centre stage as the Executive Secretary and Chief Executive Officer of the Lagos State Security Trust Fund (LSSTF) celebrated his 50th birthday with the launch of a book documenting his life and influence. Thus, the unveiling of the book “Dr. Ayodele Ogunsan: The Civilian General – The Man, His Wits, Passion, Influence” afforded family, friends, government officials, business leaders and traditional rulers the opportunity to share their experiences of the celebrant. The book, authored by Mayor Oki Olatunji Samson and co-authored by Abayomi Oyelami, was jointly unveiled by Chief Ajibola Bankole Adebutu, MON, Chief Executive Officer of JB Farms, and Inspector-General of Police, IGP Olatunji Rilwan Disu. The occasion brought together Lagos State Governor Babajide Olusola Sanwo-Olu, political leaders, business executives, security chiefs, traditional rulers, Christian ministers, family members and associates, whose tributes highlighted Ogunsan’s humility, dedication, faith and ability to build relationships across institutions. Sanwo-Olu, Disu Praise His Leadership Sanwo-Olu, reflecting on a relationship spanning almost a decade, recalled that Ogunsan initially struck him as quiet, humble and unassuming. He said their working relationship revealed a dependable leader with compassion, strength and a commitment to getting results. “Ogunsan is an Omoluabi personified. He is a committed Lagosian. Ayo, my dear aburo, has worked and touched lives in different ways. That’s why I’m truly proud not just to be identified with him but to wish him well,” the governor said. Describing his character, he added: “He will appear to you as a gentle dove, which he actually is, but inside him is the full roar of a dependable man who is strong in the Lord.” The governor also praised Ogunsan’s loyalty, precision and ability to complete assignments while providing feedback and anticipating challenges. Deputy Governor Dr. Kadri Obafemi Hamzat, represented by Mr. Moruf Akinderu Fatai, congratulated Ogunsan and urged him to continue contributing to national security, saying: “I celebrate you, Dr. Ogunsan, on your birthday. Do continue to move in this quest to secure Nigeria.” Disu described Ogunsan as a wonderful person whose humility had helped bring security agencies together. “Dr. Ayo Ogunsan is a wonderful human being. I have a lot to learn from him, though I am older than him. He doesn’t mind kneeling down to solve problems. He has been able to merge all security agencies in Nigeria,” the IGP said. FirstBank Managing Director and CEO, Olusegun Alebiosu, praised Ogunsan’s humility, honesty, amiability and impact, saying he continued to learn from him and considered him a great man. While LSSTF Board Chairman Kehinde Durosinmi Etti commended Ogunsan’s

L-R: Executive Governor, Lagos State, Gov. Babajide Sanwo-Olu; Daughter of the Celebrant, Mercy Ogunsan; Celebrant/Executive Secretary/CEO, Lagos State Security Trust Fund, LSSTF, Dr. Ayodele Ogunsan; his Wife/Managing Director, Executive Hotel and Suites, Dr. Ajoke Ogunsan; their Daughters- Oluwaseun Ogunsan and Joy Ogunsan during the launch of the book; Dr. Ayodele Ogunsan: ‘The Civilian General’ and 50th Birthday Celebration of LSSTF’s CEO Dr Ogunsan at the Civic Center, V/I, Lagos

L-R: Executive Director, Zenith Bank Plc, Mr. Akin Ogunranti; Inspector General of Police, IGP Olatunji Disu; Lagos APC Deputy Governorship Candidate, Princess Damilola Sonayon James; Wife of the Celebrant/Managing Director, Executive Hotel & Suites, Dr. Ajoke Ogunsan; Executive Secretary/CEO, Lagos State Security Trust Fund, LSSTF, Dr. Ayodele Ogunsan and CEO, CEO/MD, JB Farms Ltd, Mr. Ajibola Bankole Adebutu, MON

L-R: Commander, 9 Brigade, Nigerian Army, Brig Gen Owolabi Ayokunle; Celebrant, Dr. Ayodele Ogunsan; his Wife, Dr. Ajoke Ogunsan; Commander, NAF 651 BSG, Air Commodore MA Imam; and Commander, NNS BEECROFT, Commodore Aiwuyor Adams-Aliu

knowledge of security matters and their professional relationship, another board member and Zenith Bank Executive Director, Akin Ogunranti called him an “indefatigable CEO,” citing his energy and regular updates on security initiatives. Ubon Udoh, board member and MD/CEO of ASR Foundation, described him as “driven and inspirational,” praising his belief in collective effort. Faith, Family and Lasting Values Businessman and philanthropist Chief Olu Okeowo, Chairman of Gibraltar Construction, described Ogunsan as a distinguished gentleman whose Christianity was reflected in his work and family. Comparing him with biblical David, he praised the family’s shared expression of worship. Adebutu conveyed greetings from his father, Sir Kessington Adebukunola Adebutu, and the Adebutu family, praying for

Ogunsan to celebrate 60, 70 and more birthdays as God permits. Lagos Commissioner for Special Duties Gbenga Oyerinde celebrated five decades of memorable experiences, praying that Ogunsan’s coming years would be more fulfilling and bring him “testimonies that money cannot buy.” The Alara of Ilara, Oba Olufolarin Ogunsanwo, praised Ogunsan’s diligence and commitment to service and thanked his wife, Dr. Ajoke Ogunsan, for supporting him and keeping the home front. The Ologba of Ogba, Oba Lateef Egbeyemi, said, “We can see the certificate of your parents in you.” He commended the celebrant’s wife and children and prayed that Ogunsan would live to witness their successes. Family members Abiodun Ogunsan and Dr. Sunday Alabi, his brotherin-law, also paid tribute. Abiodun described him as a leader, mentor and father figure guided by discipline and spirituality, while Alabi recalled recognising his leadership qualities in 1986/87.

Dignitaries at the Celebration Political figures present included Lagos Chief of Staff Tayo Ayinde; Deputy Chief of Staff Sam Egube; APC Lagos deputy governorship candidate Princess Damilola Senayon James; campaign DirectorGeneral Senator Musiliu Obanikoro; Attorney-General Lawal Pedro, SAN; Commissioner for Information Gbenga Omotoso; Commissioner for Trade and Investment Folashade AmbroseMedebem; Special Adviser on Tourism Idris Aregbe; Gbenga Abiola; and Seriki Muritala. Retired DIG Agboola Oshodi Glover also attended. Business leaders included UBA Group Managing Director and CEO Oliver Alawuba; Idowu Oguntona, MD of Lagos Bus Service Limited; and other executives. Disu led senior police officers including DIG Adegoke Fayoade; retired DIGs Bode Adeleke, Ari Muhammed Ali and David Folawiyo; AIGs Simeon Akpanudom, Olohundare Jimoh and Ronke Nurat Okunade; retired AIGs Johnson Adenola and Lanre Bankole; CPs Fatai Tijani, Toyin Agbaminijo, retired Saadat Ismail, Akin Fakorede and retired Abiodun Alamutu; DCPs Anthony Okon Placid, Bayo Sulaiman, Lawal Adeshina, retired Akinbayo Olasoji and Mary Ayim; ACPs Veronica Ameh-Akpa, Frances Oyin Adegbite, Smith Adeleke and Adegbite; and CSPs Tayo Akerele, Solomon Komolafe, Ayodele Elijah, Shola Jejeloye and Shokunbi Toyosi. Military representatives included Brig. Gen. Ayokunle Owolabi, Air Commodore M.A. Imam, Commodore Aiwuyor Adams Aliu, Gen. Olumuyiwa Okunowo and Rear Admiral Olugbenga Oladipo, Commander of Operation Delta Safe. Other security officials were NDLEA Lagos Strategic Commander ACGN Wali Liman Abubakar; NSCDC Commandant Adedotun Keshinro; Immigration Comptroller Chris Olu Onajinrin; FRSC Sector Commander Kehinde Hamzat; LNSA General Manager Prince Dr. Ifalade Oyekan; Man ‘O’ War Commandant MC Ayodele Ajayi; and Vigilante Group of Nigeria Commander Sesan Oguntunde. Traditional rulers included Ooni of Ife Oba Adeyeye Enitan Ogunwusi, represented by his wife; Oba Olufolarin Ogunsanwo; Oba Lateef Egbeyemi and Olori Kadijat Egbeyemi; Onikoyi of Ikoyi Oba Ibikunle Fafunwa; and Lagos whitecap chiefs. Christian ministers included Pastor Yemi Akinwande of Deeper Life Church UK, who delivered the exhortation; Pastor Sehindemi Johnson; Professor Albert Oikelome; Pastor Tope Ojemen; Pastor Olaomo; and Pastor Olanipekun. Worship, praise and thanksgiving marked the celebration, as the book documented Ogunsan’s journey and the values associates said had shaped his life and leadership. As the celebration drew to a close with worship, praise and thanksgiving, the tributes returned to the themes that had run through the occasion: faith, family, humility and service. For Ogunsan, the book offers a record of five decades of experiences, while the words of those who gathered in his honour provide a personal account of the relationships and values that have shaped his journey. The milestone also marks the beginning of another chapter, with prayers and expectations for continued fulfilment, greater impact and many more years of service.

T H I S D AY • FRIDay, OCTOBER 23, 2026

business/MOnEYGUIDE

Disengaged Staff Appeal to BUA Chairman over 24 Years Unpaid Allocation Onuminya Innocent in Sokoto Members of the Association of Voluntarily Disengaged Staff of BUA Cement Company, Sokoto, have appealed to the Chairman of BUA Group, Abdul Samad Rabiu, to consider their plight over unpaid cement allocations dating back to 1999. The appeal was contained in a letter addressed to the Managing Director of BUA Cement Plc, Kalambaina Road, Sokoto, dated October 10, 2026, and signed by the Chairman of the association, Mallam Abdullahi Abubakar and Secretary, Mr. Leonard A. Ameh. In the letter titled, “Letter of Plead for Settlement,” the former workers said they were staff of the Cement Company of Northern

Nigeria Plc, now BUA Cement Plc, who served the company with dedication before voluntarily withdrawing their services in August 2001. According to the association, at the time of their disengagement, they were being owed cement allocation for the years 1999, 2000 and 2001, which has remained unsettled for over two decades. They said a lot of time has passed and that while no one is perfect, they have decided to seek a peaceful resolution in the interest of all parties. The association said the letter was written on behalf of widows and orphans of their deceased colleagues who are passing through hard conditions, as well as elderly members who are bedridden with terminal illnesses.

Chairman of the association, Abdullahi Abubakar, said many of the affected ex-staff are facing severe economic hardship and can no longer meet basic family needs due to the long wait. They pleaded with the BUA Chairman to temper justice with mercy and approve the settlement of their outstanding allocations to alleviate their sufferings. The association tendered an apology for any way they may have wronged the company and prayed for the continuous growth of BUA under the leadership of Alhaji Abdul Samad Rabiu. The disengaged workers said they are ready to embrace an out-of-court settlement and any peaceful resolution that the company may propose to finally close the matter.

CSR REPORTERS UnveilsTechnical Framework for Nigeria CSR Impact Ranking Africa’s independent corporate responsibility and sustainability news and intelligence platform, CSR REPORTERS, has unveiled the Methodology and Technical Framework for the Nigeria CSR Impact Ranking 2026, laying the foundation for an evidence-led assessment of corporate social impact and sustainability performance in Nigeria. The new methodology puts evidence at the centre of corporate accountability, seeking to move corporate responsibility assessment beyond publicity, expenditure and selfreported claims to a more structured examination of what organisations actually do, the evidence supporting their claims, the outcomes they achieve and the extent to which

those outcomes can be substantiated. Founder and CEO of CSR REPORTERS, Eche Munonye, said the distinction has become increasingly important as sustainability reports and CSR announcements gain greater prominence, while independently verifiable evidence of lasting impact remains uneven. The main objective of the Nigeria CSR Impact Ranking 2026 seeks to answer a fundamental question: What can a company actually demonstrate about its social impact and sustainability performance? The methodology establishes a weighted scoring framework for assessing organisations operating in Nigeria across five dimensions.

Impact carries the highest weighting at 30 per cent, while Strategic Alignment and Measurement & Evaluation each account for 20 per cent. Sustainability & Scale and Transparency & Accountability account for 15 per cent each. Munonye noted that if any ranking capable of shaping corporate perception should itself be open to scrutiny. “If a ranking is going to influence how companies are perceived and discussed, people should be able to understand how it was produced,” he said. The exercise, he added, examines what was done, what changed, whether the change can be measured and sustained, and who can independently confirm it.

BJUMP Initiative to Drive Quality Talent Pipeline for Corporate Africa BJUMP, a career development initiative focused on driving quality talent pipeline for Corporate Africa through structured mentorship, learning programmes, and real-world exposure that enables personal and professional growth across industries and borders marked its fifth anniversary with a media and partner luncheon in Lagos, bringing together media representatives, partners, alumni, and other stakeholders to celebrate its impact and unveil its next chapter. Speaking at the luncheon, Bolaji Junaid, founder of BJUMP and CEO of WhyFinite, reflected on the initiative’s journey and the importance of building on the progress made over the

past five years. “Five years ago, we started with a vision. Today, we have a foundation to build on. But growth, to me, is not just about getting bigger. It is about becoming better equipped to do the work we set out to do, reaching more people without losing sight of why we started, and creating something that can keep delivering value long after the people who started it have moved on. In the next five years, we want to build an institution that can continue opening doors for young Nigerians, developing professional talents, and creating opportunities for generations to come. “BJUMP has become a registered non-profit organisation with the CAC. Our work is driven by a

mission to develop talents for corporate Africa. We are not building BJUMP to distribute profits to owners or Trustees.” Speaking at the luncheon, member, Board of Trustees, Taopheek Babayeju, said that the initiative is solving a key problem in the Nigerian business ecosystem. “We need to have an honest conversation about Nation building. A balance of Entrepreneurship & Intrapreneurship is important. We need people who will build businesses, create jobs, and develop solutions, while on the other hand we also need skilled professionals who can strengthen organisations, lead teams, build expertise, and contribute to the growth of established industries,” he said.

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

Quasi Money

79,681,419.97

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

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).

T H I S D AY • FRIDay, OCTOBER 23, 2026

mARKET NEWS

CIS, ASHON Laud Capital Market Gains, Back N750tn Market-cap Target Kaode Tokede

The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON) have hailed the Nigerian capital market’s major milestones in 2026, citing regulatory reforms, international recognition, improved

market infrastructure and landmark capital-raising initiatives as evidence of growing market strength. In a joint congratulatory message signed by Dr. Fiona Ahimie, 14th President and Chairman of Council of CIS, and Sehinde Adenagbe, Chairman of ASHON, the two professional bodies highlighted several significant achievements

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during the year. They said the developments reflected the collective commitment, resilience, innovation and strategic leadership of regulators, market operators, professional bodies and other stakeholders working to position Nigeria’s capital market for greater domestic and international competitiveness.

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They commended the Securities and Exchange Commission (SEC) for its regulatory leadership and the introduction of initiatives aimed at mobilising domestic savings, expanding investor participation and advancing the ambitious N750 trillion market-capitalisation target. They also praised the Federal Ministry of Finance for its strategic leadership

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and collaboration with the SEC and other stakeholders in developing and launching the National Savings Scheme. According to the bodies, the scheme could strengthen financial inclusion, encourage retail investment and expand the pool of domestic capital available to finance productive economic activities. They, however, stressed

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that sustained institutional collaboration, effective implementation and widespread public awareness would be essential to realising its full potential. Another major achievement highlighted was Nigeria’s adoption of the T+1 settlement cycle on June 1, 2026, which reduced the settlement period for securities transactions.

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FRIDAY, OCTOBER 23, 2026 • T H I S D AY

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 20th October 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 894.78 905.09 44.57% Nigeria International Debt Fund 429.06 429.06 12.25% Afrinvest Plutus Fund 100.00 100.00 14.55% Afrinvest Dollar Fund 119.99 119.99 6.49% Afrinvest Halal Fund(AHF) 117.49 117.49 13.04% Web: www.alphamorgan.com, Tel: +2347018898523 Fund Name Bid Price Offer Price Yield / T-Rtn ALPHA MORGAN BALANCED FUND 3,309.51 3,332.34 50.65% 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 100.00 100.00 16.59% AIICO Balanced Fund 9.85 10.04 25.59% AIICO Eurobond Fund 110.01 110.01 10.01% Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 17.69% Anchoria Equity Fund 1.90 1.90 13.62% Anchoria Fixed Income Fund 581.40 589.89 42.09% 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 16.57% ARM Discovery Balanced Fund 1.25 1.25 4.68% ARM Ethical Fund 1.46 1.46 12.59% ARM Eurobond Fund 1.31 1.31 13.23% ARM Fixed Income Fund 1.24 1.24 13.73% ARM Short Term Bond Fund 1.08 1.08 4.97% ARM Shariah Fixed Income Fund 1.07 1.07 4.31% ARM Short Term Eurobond Fund 72.67 74.86 37.21% ARM Specialized Dollar Fund 1,430.14 1,473.26 35.55% ARM Money Market Fund 147.99 152.45 42.11% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 122.46 122.46 7.49% AVA GAM Fixed Income Dollar Fund 1,430.11 1430.11 21.08% 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 374.05 374.05 49.47% AXA Mansard Equity Income Fund 1.00 1.00 15.79% 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 3.07 3.07 15.05% CEAT Fixed Income Fund 9.00 9.21 64.24% 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 13.05% CardinalStone Fixed Income Alpha Fund 1.24 1.24 4.91% CardinalStone Dollar Fund 2.90 2.94 62.00% CardinalStone Equity Fund 1.78 1.80 47.18% CardinalStone Balanced Fund 1.00 1.00 19.70% 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 100.00 100.00 18.09% Nigeria Bond Fund 115.51 116.47 6.53% Nigeria Dollar Income Fund 1.08 1.08 -0.71% 73.36 73.45 53.89% 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 15.89% 118.29 118.29 11.92% Cordros Fixed Income Fund 131.95 131.95 14.32% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 119.07 119.07 6.11% Cordros Milestone Fund 307.38 309.54 37.20% 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 19.30% Coronation Balanced Fund 2.78 2.83 40.73% Coronation Fixed Income Fund 1.64 1.64 11.53% Coronation Dollar Fund 1.10 1.10 12.66% Coronation Premium Fixed Income Fund 1.01 1.01 3.03% CFG Asset Management Limited Portfoliomanagers@cfgafrica.com Web:https://cfgafrica.com/cfg-am/ , Tel: 02018870020 Fund Name Bid Price Offer Price Yield / T-Rtn CFG Ethical Fund 1,301.99 1,301.99 20.76% CFG AM Naira Fixed Income Fund 1,119.98 1,119.98 15.00% CFG AM Fixed Income Dollar Fund 107.81 107.81 6.39% mutualfundng@ecobank.com EDC FUNDS MANAGEMENT LIMITED 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 16.00% First Asset Bond Fund 1807.75 1807.75 10.70% First Asset Dollar Fund 135.81 135.81 7.77% First Asset Halal Fund 158.29 158.29 14.25% First Asset Specialised Dollar Fund 132.67 132.67 8.05% First Asset Balanced Fund 609.26 614.37 42.25% First Asset Smart Beta Equity Fund 0 0 28.82% First Asset Blended Dollar Fund 115.38 115.38 3.21% 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 FCMBAM Money Market Fund 0.00 0.00 0.00 FCMBAM USD Bond Fund 0.00 0.00 0.00 FCMBAM Debt Fund 0.00 0.00 0.00 FCMBAM Equity Fund 0.00 0.00 0.00 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 17.75%

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 5,170.75 5,170.75 10.96% Coral money market fund 100.00 100.00 16.27% FSDH HALAL FUND 1,467.18 1,467.18 13.38% FSDH dollar fund 1.41 1.41 7.04% Coral Balanced Fund 14,496.18 14,601.84 37.12% 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 1,303.63 1,303.63 12.93% LOTUS HALAL INVESTMENT FUND 3.87 3.94 39.72% LOTUS HALAL EQUITY EXCHANGE TRADED FUND 96.43 106.58 64.45% LOTUS WAQF ENDOWMENT FUND 1,557.43 1,557.43 35.58% 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 16.39% 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 18% Norrenberger Islamic Fund (NIF) 107.88 107.88 18% NORRENBERGER DOLLAR FUND (NDF)-----($) 104.55 104.55 11% NORRENBERGER TURBO FUND (NTF)-----(N) 108.98 108.98 14% 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 0.00 0.00 0.00 PACAM Fixed Income Fund 0.00 0.00 0.00 PACAM Money Market Fund 0.00 0.00 0.00 PACAM Equity Fund 0.00 0.00 0.00 PACAM EuroBond Fund 0.00 0.00 0.00 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 304.52 312.67 82.0% 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 1.12 1.12 16.52% SFS REIT 341.08 341.08 1.65% UH REIT/SFS 152.77 152.77 5.13% UPDC REIT 21.15 21.15 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 Guaranteed Investment 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 Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical 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

1.00 390.85 259.25 1.70 153.60 174.62 13,618.67 488.53 7.02 1,555.94 62,898.25 689.80 17,476.89 10,924.86

1.00 390.85 259.25 1.70 153.60 174.62 13,748.38 496.97 7.13 1,555.94 63,686.44 701.68 17,735.78 10,967.02

15.24% 3.50% 0.01% 2.09% 8.62% 11.34% 41.23% 57.21% 57.22% 64.77% 47.24% 67.29% 37.77% 16.37%

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 1.20 1.93 123.09 1.24 133.43 2.52 2.91 2.27 1.52

Offer Price Yield / T-Rtn 1.00 15.52% 1.20 9.75% 1.93 8.23% 123.09 5.96% 1.24 7.78% 133.43 15.24% 2.55 46.55% 2.93 41.35% 2.29 41.18% 1.52 38.56% funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn N89.93 N90.03 46.49% N24.88 N24.98 53.13% N40.37 N40.47 3.26% N102.49 N102.69 60.13% N149.51 N151.51 3.47% N1.00 N1.00 17.69% 1.16 1.16 0.87% service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 45.65 46.18 34.52% 53.51 54.03 33.82% 33.48 33.48 10.47% 1.00 1.00 15.75% investmentoperations@zedcrest.com Bid Price N1.00 N1.51 1.58 2.03

Offer Price N1.00 N1.51 1.58 2.05

Yield / T-Rtn 18.62% 13.04% 7.92% 99.16%

NAV Per Share

Yield / T-Rtn

21.15

0.00%

0.00

0.00%

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.

THISDAY • FRIDAY, OCTOBER 23, 2026

NEWS

MEETING TO EXPLORE POTENTIAL AREAS OF COLLABORATION IN SPORTS INFRASTRUCTURE DEVT...

L-R: Director of School Sports, Lagos State Sports Commission (LSSC), Dr. Oluyomi Oluwasanmi; Area Manager, Africa and Middle East, Metalu Plast, Mr. Adil Sarhiri; Director-General, Lagos State Sports Commission, Mr. Lekan Fatodu; and Trade Advisor, French Embassy Trade Commission in Nigeria, Ms. Juliette Deschamps, during a meeting to explore potential areas of collaboration in sports infrastructure development, grassroots sports facilities and community recreation spaces, held at Teslim Balogun Stadium, Lagos... recently

Terrorism: Man Bags 40 Years for Spying for Late Benue Militia Leader, Gana As father of 10 sentenced to 10 years’ imprisonment for protecting Boko Haram members Another gets 20 years over membership of proscribed IPOB

Alex Enumah in Abuja Three individuals bagged various jail terms on Thursday in Abuja over offences relating to terrorism. While Mr Sunday Frank was sentenced to 40 years imprisonment for spying for an alleged notorious bandit leader in Benue State, the late Terwase Akwaza, popularly known as Gana, a father of 10 children, Ali Shaban Hamma was jailed for 10 years for giving

protection to members of the Boko Haram terrorist group in his Borno community. Similarly, a self-confessed member of Indigenous People of Biafra (IPOB), Mr. Paul Okechukwu, was sentenced to 20 years’ jail term for belonging to the proscribed organisation. Their conviction and sentencing on terrorism related offences followed the renewed efforts of the federal government to check the

menace of terrorism and sound a warning to its supporters and sympathisers. In a four-count charge brought before the court by the federal government, it was alleged that the convict, Frank, who hails from Katsina-Ala Local Government Area of Benue State, monitored and provided information to Gana about the movement of security agents. It alleged that the convict’s

coverage for Gana spanned Benue and Taraba states. Gana was said to have started as part of a militia group defending Benue communities against attacks by suspected herdsmen, but was killed in September 2020 by security operatives. Specifically, in the charge, which was personally prosecuted by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, it was alleged that

ITF, NECA Seek Targeted Financing to Boost Entrepre-neurship NECA says 90% of programme beneficiaries secured jobs or established businesses

James Emejo in Abuja The Industrial Training Fund (ITF) and Nigeria Employers’ Consultative Association (NECA), yesterday, called for targeted financing and equipment support for technically trained youths. They warned that the absence of start-up capital could prevent skilled graduates from translating their competencies into businesses and jobs. The two organisations said Nigeria’s technical skills development drive must move beyond training numbers to measurable economic outcomes, including sustainable employment, enterprise creation, and higher industrial productivity. The call was made at a stakeholders’ dialogue and award ceremony organised under the ITF-NECA Technical Skills Development Project (TSDP). Chairman of ITF Governing Board, Hamma-Adama Ali Kumo, said the country’s industrial development depended on a workforce capable of meeting the technical demands of modern production. Kumo said the partnership between ITF and NECA demonstrated how public-private collaboration could make vocational training more responsive to the practical requirements of industry. Represented by Mrs. Mercy Oyewole, Kumo maintained that the success of skills development initiatives should not be judged solely by the

number of people trained, but by how many graduates secured relevant jobs, established sustainable businesses, and improved their livelihoods. He called for expanded apprenticeship schemes, workplace placements, mentorship, and enterprise support to strengthen the link between training and employment. He also urged employers to open their facilities to structured workplace learning, provide experienced mentors, and give graduates opportunities to demonstrate their competencies. Kumo stressed the need for investment in trainers, modern equipment, and updated curricula that reflect changes in industrial processes, while calling for wider access to technical education for women, persons with disabilities, and young people facing economic barriers. He urged stakeholders to improve the recognition of technical occupations, including welding, machining, furniture making, and maintenance, which he described as essential to national development. In his remarks, NECA Director General, Adewale-Smatt Oyerinde, urged the Bank of Industry (BoI) to provide starter packs and other support for qualified graduates seeking to establish businesses. Oyerinde said equipping young people with technical skills without providing the tools and resources to deploy them would leave a critical

gap in the effort to tackle unemployment. He said helping a trained technician establish a viable enterprise could have a multiplier effect by creating additional jobs and expanding productive capacity. The appeal highlights a key challenge in Nigeria’s vocational training system: converting technical competence into income-generating opportunities, particularly for graduates

who may lack the financial capacity to acquire equipment and establish workshops after completing their training. Oyerinde disclosed that records from the ITF-NECA programme showed that about 90 per cent of its graduates had secured employment or established their own businesses, while 84 public and private sector organisations had participated in the initiative.

the convict had also kidnapped one Samuel in 2022 and held him hostage until the sum of N40,000 was paid for his release. He was accused of committing offences contrary to Sections 21 and 24 of the Terrorism Prevention and Prohibition Act (TPPA) 2022. Even though the defendant denied counts 1, 2 and 3 of the charge, which related to his alleged involvement in abduction, he pleaded guilty to count 4, which related to providing information to the Benue bandit leader. Following his plea, the AGF applied for the counts the defendant denied to be struck out, a request the court granted. Afterwards, the prosecution produced a witness who told the court that he was part of the team that investigated the defendant, adding that the convict had confessed to being a bandit and an informant to the late Gana. He said the defendant, who was arrested in 2022, admitted that aside from giving updates on the movement of security agents to Gana, he also confessed to his involvement in banditry and participation in the abduction of two persons. According to the witness, the defendant’s confessions were both

oral and written. Delivering judgement, Justice Hawa Yilwa of the Federal High Court, Abuja, found the defendant guilty and sentenced him to 40 years imprisonment, starting from the day of his arrest. The court held that the convict should, upon completing his prison term, be subjected to a rehabilitation and deradicalisation programme. In the case of Hamma, he was handed a 10- year jail term by Justice Binta Nyako of the Federal High Court, Abuja, shortly after he pleaded guilty to the terrorism charges brought against him by the federal government. The convict admitted knowing the Boko Haram members in his village, but said he ignorantly refused to report them to the federal troops for arrest and prosecution. He confessed that he had been associating with the terrorists since they arrived his village to unleash criminal activities on the people. Upon his admission of guilt, the AGF pleaded with Nyako to sentence the convict to a minimum of 20 years in view of the gravity of the heinous offence of terrorism. Fagbemi argued that the terrorists would have been brought to book if the convict had not rendered protection to them.

Bamidele Pushes Lagos, Five S’West States on Regional Investment Compact

Seeks coordinated infrastructure, economic corridors, digital expansion to drive regional prosperity

Sunday Aborisade in Abuja

Leader of the Senate, Senator Opeyemi Bamidele, has urged Lagos and the five other Southwest states to establish a regional development and investment compact to coordinate infrastructure, attract investments, and accelerate economic growth across the region. Bamidele said the proposed Lagos-South-west Spatial Development and Investment Compact would provide a framework for Lagos, Ogun, Oyo, Osun, Ondo and Ekiti states to harmonise their development priorities, coordinate

cross-border infrastructure projects and mobilise investments in areas of shared economic interest. He made the proposal on Thursday in a keynote address at the Lagos Physical Planning Summit held at Eko Hotel and Suites, Victoria Island, Lagos, according to a statement by his media office in Abuja. The senate leader stated that Lagos could not secure its longterm economic prosperity through isolated state planning, given its interconnectedness with neighbouring states in transportation, housing, agriculture, manufacturing, trade,

labour markets and environmental management. He called for a coordinated regional approach that would align physical planning with economic development, infrastructure investment and measurable improvements in citizens’ welfare. He stated, “Lagos’ long-term prosperity cannot be secured through isolated state planning alone. Its economy is closely connected to neighbouring states through shared boundaries, labour markets, housing, agriculture, manufacturing, transportation logistics, trade and environmental

systems.” According to him, the proposed compact would enable Lagos and willing partner states to identify common infrastructure priorities, strengthen regional economic corridors and attract investments in projects capable of delivering benefits beyond individual state boundaries. He said the initiative should bring together the six South-west state governments, relevant federal institutions, planning authorities, infrastructure agencies, the organised private sector, professional bodies and development partners.

FRIDAY, OCTOBER 23, 2026 • THISDAY

NEWS

NATIONAL INSURANCE BROKERS CONFERENCE AND EXHIBITION...

L-R: Regional Director, Abuja, Leadway Assurance, Mr. Olufemi Awodimibola; Head, Commercial Division, Leadway Assurance, Mr. Olawale Alao; President and Chairperson of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe; Global Head, Agricultural Risk Solutions, Mr. Ayoola Fatona; and Zonal Head, Lagos Cluster, Leadway Assurance, Mrs. Mfonobong Daniel-Nwoji, at the National Insurance Brokers Conference and Exhibition organised by the NCRIB in Abuja on Wednesday

Kaduna Ready for APC Presidential Campaign Flag-Off Tomorrow, Says Musa Tinubu’s second term will usher in prosperity, says Edu Obasanjo’s son joins president’s campaign Federal agencies’ CEOs mobilise supporters for campaign Kick-off Deji Elumoye, Adedayo Akinwale, Linus Aleke in Abuja and John Shiklam in Kaduna The Minister of Defence, General Christopher Musa, yesterday, declared that Kaduna State was fully prepared to host the official flag-off of the All Progressives Congress (APC) presidential campaign tomorrow, Saturday, October 24, 2026. He said thousands of party leaders, delegates and supporters were expected to gather in Kaduna to launch the party’s campaign ahead of the forthcoming general election. This was as the Co-Chairman of the Directorate of Women Mobilisation of the APC Presidential Campaign Council (APC-PCC), Dr. Betta Edu, has said President Bola Tinubu’s second term would usher in an era of prosperity for Nigerians. Also, in an interesting turn of events, one of the sons of former President Olusegun Obasanjo, Olujonwo Obasanjo, has joined a political advocacy platform, Tinubu Movement for Sustainable Governance Foundation (TMS), known as Tinubu Must Stay. The group is promoting policy continuity, sustainable governance and public understanding of President Bola Tinubu’s Renewed Hope Agenda. In the same stroke, the Forum of Chief Executive Officers of Federal Government Parastatals (FORCEPA), yesterday, hinted that it has mobilised

over 100,000 supporters to storm the Kaduna venue of the APC presidential campaign kick-off, reaffirming its support for the reelection of President Tinubu and Vice-President Kashim Shettima’s on January 16, 2027. However, in a statement, the defence minister said, “Preparations across the state capital have reached an advanced stage, with local organising committees, security agencies and party executives working in synchronisation to ensure a smooth and successful event.” As part of the final site assessments, the minister conducted a comprehensive inspection of Ranchers Bees Stadium, venue for the campaign rally. The visit focused on assessing security protocols, crowd management plans and venue infrastructure to ensure the safety of all attendees and dignitaries, as well as their smooth movement throughout the event. Speaking during the inspection, Musa, who also serves as Secretary of the Presidential Campaign Committee on Intelligence, assured the president and the public that Kaduna State was fully prepared and secure to welcome the president, party leaders and supporters from across the country.

Edu: Tinubu’s Second Term Will Usher in Era of Prosperity

The Co-Chair of the Directorate of Women Mobilisation of the APC Presidential Campaign Council, Dr.

Betta Edu, has said President Bola Tinubu’s second term would usher in an era of prosperity for Nigerians. Edu spoke in Kaduna when she led a delegation of the PCC Women Mobilisation Directorate on a courtesy visit to the Deputy Governor of the state, Dr. Hadiza Balarabe, who is the chair of the Local Organising Committee (LOC) for the APC presidential campaign flag-off. Expressing optimism about Tinubu’s re-election in 2027, Edu said the country had moved beyond the difficult phase of the administration’s economic reforms and was now at the threshold of prosperity. “We have gone through the reform phase already. Now, it is time for prosperity. We are already at the gate of prosperity once President Tinubu is re-elected,” Edu declared. The sacked former Minister of Humanitarian Affairs and Poverty Alleviation said the Women Mobilisation Directorate was targeting about 40 million votes for Tinubu and Vice-President Kashim Shettima in the 2027 presidential election. She said achieving the target would require sustained grassroots mobilisation, particularly among women, rather than merely assembling large crowds at political rallies. “Our plan as the PCC mobilisation directorate is to see that we can mobilise at least close to 40 million votes for President Bola Ahmed Tinubu. And

we cannot do this without getting down to the grassroots. “We want to engage with women. We want to find out what their challenges are. We want to find out how best we can get to the grassroots,” she added. Responding, the Deputy Governor assured the delegation that the Kaduna State Government and the LOC were working assiduously to ensure a successful presidential campaign flag off on Saturday.

Obasanjo’s Son Joins Tinubu Must Stay Movement, Backs Policy Continuity, Others

Olujonwo Obasanjo, son of former President Olusegun Obasanjo, has joined a political advocacy platform, Tinubu Movement for Sustainable Governance Foundation (TMS), known as Tinubu Must Stay. The group promotes policy continuity, sustainable governance and public understanding of President Bola Tinubu’s Renewed Hope Agenda. Olujonwo, who serves as President of the Buhari Youth Organisation (BYO), President of Project One Nigeria, and Senior Special Assistant to the Ogun State Governor on Housing, announced his decision at a press conference in Abuja, where TMS leadership officially welcomed him into the organisation. He said his decision was shaped by his political experience, understanding of Nigeria’s reform history and belief in the importance of sustaining government

policies across administrations. Olujonwo said he had been a member of the All Progressives Congress (APC) since its formation, arguing that several policies of the Tinubu’s administration have not been adequately explained to Nigerians, creating opportunities for misinformation and misinterpretation. “I’ve been in the APC since 2014. I was there when my father hosted the late President Muhammadu Buhari and President Bola Ahmed Tinubu to form the movement. I’m not new to the party. “There’s a lot of noise out there, and people are distorting what’s going on. ASUU has had no strikes. Students have access to loans. Nigeria has become a massive construction site and an investors’ haven again. These are things we need to promote.” Also, the Director General of the National Information Technology Development Agency (NITDA) and National Coordinator of TMS, Kashifu Abdullahi, welcomed Olujonwo into the movement, describing his background as relevant to TMS’s advocacy for sustained economic reforms.

Federal Agencies CEOs Mobilise Supporters for Tinubu’s Campaign Kick-off

The Forum of Chief Executive Officers of Federal Government Parastatals (FORCEPA) has said it has mobilised over 100,000 supporters to storm the Kaduna venue of the APC presidential

campaign kick-off on Saturday, reaffirming its support for the reelection of President Bola Tinubu and Vice President Kashim Shettima. The forum, made up of over 500 chief executives of federal agencies and parastatals, also pledged to mobilise 10 million votes for Tinubu and Shettima, citing the need for policy continuity and consolidation of the administration’s Renewed Hope Agenda. Speaking at a news conference in Abuja, its chairman, Dr Kazeem Kolawole Raji, who was joined by other officers of the forum, said members had been deployed to Kaduna to coordinate mobilisation and engage stakeholders ahead of the campaign event. According to him, “We have decided, as a group comprising over 500 CEOs across the country, to lend our support to the re-election of Mr President. “In view of this, we have decided to mobilise over 100,000 supporters for the presidential campaign kick-off in Kaduna on Saturday.” Declaring that the Tinubu administration deserved a second term, he said the forum was established to harness the institutional experience and networks of federal agency chiefs to promote public awareness of government policies and programmes. FORCEPA defended the Tinubu administration’s economic reforms, including petrol subsidy removal, describing them as difficult but necessary measures to strengthen public finances, attract investment and support long-term growth.

NUJ Demands Justice for Kaduna Journalist, Questions Four-Year Jail Sentence Southern Senators Mourn Fasoranti, Hail Seeks impartial probe into arrest, detention of Farida Isiak’s parents

Sunday Ehigiator

The Nigeria Union of Journalists (NUJ) has called for justice, a fair hearing and protection of press freedom in the case of Farida Isiak, a 23-year-old journalist with Nagarta Radio in Kaduna State, who was reportedly sentenced to four years’ imprisonment over a Facebook post criticising the police. The union in a statement issued yesterday and signed by its National President, Alhassan Yahya Abdullahi, said the circumstances surrounding Isiak’s arrest, detention and reported sentencing raised

serious concerns about freedom of expression, personal liberty, due process and the possible misuse of public authority. According to the NUJ, the incident reportedly began with a dispute involving N100 change from a charcoal sale between Isiak’s mother and a neighbour. The statement said Isiak’s mother was reportedly arrested following the dispute, while her father was also detained after he went to the police station to secure her bail. It added that Isiak subsequently presented herself at the police station and was accused of defaming

the police in a Facebook post concerning the alleged treatment of her parents. Although she reportedly deleted the post and apologised, the journalist was subsequently taken before a court in Kawo, Kaduna State, where she was reportedly sentenced to four years’ imprisonment or a fine of N1.75 million for defamation. The union said the intervention of lawyers following the court proceedings prevented her immediate transfer to a correctional centre. Isiak was subsequently granted bail, while a retrial has been scheduled for November 3, 2026.

Legacy of Democratic Struggle, Principles Sunday Aborisade in Abuja

The Southern Senators’ Forum has mourned the death of renowned elder statesman, educationist and pro-democracy advocate, Pa Reuben Fasoranti, describing his passing at the age of 100 as a major loss to Nigeria. The forum, chaired by Senator Mukhail Adetokunbo Abiru, extended its condolences to Fasoranti’s family, the Afenifere socio-political organisation, the Ondo State Government, the Yoruba nation and Nigerians who were touched

by his life and public service. In a condolence statement by Abiru, the forum said the late Fasoranti exemplified integrity, courage and principled leadership throughout his lifetime. It noted that the nonagenarianturned-centenarian remained committed to democracy, justice and good governance, while advocating a Nigeria founded on equity, fairness and mutual respect. “His passing is a profound loss not only to the South-West but to the entire nation,” the forum said.

It added that Fasoranti’s wisdom, convictions and contributions to Nigeria’s democratic development would continue to inspire present and future generations. The forum also prayed for divine comfort and strength for the deceased’s family, loved ones and the nation to bear the loss. It urged Nigerians to preserve the values of justice, fairness and democratic accountability for which the late statesman was known. The statement concluded with a prayer for the peaceful repose of Fasoranti’s soul.

THISDAY • FRIDAY, OCTOBER 23, 2026

NEWS

INSTITUTIONAL INTEGRITY AND PUBLIC SERVICE AWARD FOR BELLO...

Executive Vice Chairman/CEO of Federal Competition and Consumer Protection Commission, Mr. Tunji Bello (left), receiving the NaijaTimes plaque of “Institutional Integrity & Public Service Award” from its Publisher/Editor-In-Chief, Mr. Ehi Braimah, at FCCPC Corporate headquarters, Asokoro, Abuja, yesterday

INEC, Meta, Rise Networks, Others Join Forces to Launch #AI4Elections Hackathon Atiku demands display of preliminary voters’ register CCND gives commission eight days to publish register online or face suit

Chuks Okocha, Olawale Ajimotokan and Sunday Aborisade in Abuja The Independent National Electoral Commission (INEC), Meta, and Rise Networks have joined forces with other technology and civil society partners to launch the #AI4Elections Hackathon, a national initiative aimed at harnessing artificial intelligence to strengthen electoral integrity and democratic participation. The initiative seeks to bring together Nigerian developers, researchers, students, technology entrepreneurs, electoral experts, and civic innovators to design and develop practical, AI-powered solutions to emerging electoral challenges. These include misinformation, cybersecurity threats, electoral data analysis, inclusive civic engagement, and citizen accountability. Building on the experience of RunAm, an AI-powered misinformation detection and fact-checking mobile application developed for Nigeria’s 2023 elections, Rise Networks is spearheading the programme in

collaboration with INEC, Meta, Google, Microsoft, the International Centre for Investigative Reporting (ICIR), and other institutional partners. The hackathon, according to Dr Toyosi Akerele-Ogunsiji of Rise Network, will focus on five key areas, including trustworthy electoral information, data-driven decisionmaking, inclusive and multilingual civic technology, electoral cybersecurity, and election observation. Participants are expected to develop functional technological solutions that can contribute to credible, transparent, inclusive, and people-centred electoral processes. She said with a total cash prize pool of N10 million, alongside cloud credits, laptops, and other technology tools, the competition is open to eligible Nigerians aged 18 and above, participating individually or in teams of up to four members. Applications opened yesterday, October 22, 2026, and close on November 12, 2026, at 11:59 p.m. West African Time. The programme will culminate in a national innovation

showcase in Lagos on December 16, 2026, followed by technical support for promising solutions. Organisers emphasised that the initiative is nonpartisan and prioritises responsible AI, data privacy, human oversight, and compliance with electoral laws. Interested applicants can visit ai4elections.risenetworks.org for details and application guidelines.

Atiku Demands Immediate Display of Preliminary Voters Register By INEC Former Vice-President Atiku Abubakar has demanded the immediate publication of preliminary voters’ register, warning that its absence from INEC’s online display during the announced October 9 to 15 scrutiny period raised grave questions about the integrity of the 2027 election. In a statement by the Director of Strategic Communication of the ADC Presidential Campaign Council, Phrank Shaibu, Atiku said, “INEC

Musa: National Security, Good Governance Key to Nigeria’s Trillion Dollar Economy Linus Aleke in Abuja

Minister of Defence, General Christopher Gwabin Musa, has said sustainable national security, strong governance and credible institutions were indispensable foundations for driving Nigeria’s transition to a trillion-dollar economy. Musa made this assertion while delivering a keynote address titled: “National Security: Pathway to a Trillion-Dollar Economy” at the 56th Annual Accountants’ Conference of the Institute of Chartered Accountants of Nigeria (ICAN), held at the Bola Tinubu International Conference Centre in Abuja. Addressing an audience of professional accountants, policymakers and business leaders, Musa emphasised that national security must be viewed beyond traditional military operations and

law enforcement. Instead, it must be recognised as an essential economic catalyst that safeguards human capital, protects critical infrastructure and fosters the predictability required to attract long-term investment. According to a statement by his Special Assistant on Media, Leah Katung-Babatunde, Musa stressed that, “No investor commits capital where lives and assets are not safe, and no economy grows beyond the reach of its security.” The minister acknowledged Nigeria’s security challenges, including targeted attacks on communities, highway kidnappings and isolated insurgent activities. However, he reassured the public that concerted operations by the Armed Forces of Nigeria were steadily turning the tide, restoring stability across economic corridors,

agricultural belts and industrial zones. Aligning his remarks with President Bola Tinubu’s Renewed Hope Agenda, the minister outlined several strategic priorities for leveraging security to drive macroeconomic expansion. These included protecting strategic economic assets, promoting good governance and human capital development, ensuring financial discipline in defence spending, strengthening cybersecurity and financial intelligence, and developing domestic defence industrial capacity. The minister, however, announced the establishment of a joint Ministry of Defence–ICAN Implementation Committee to develop collaborative frameworks proposed by ICAN President, Hajia Queensley Seghosime.

has announced more than 103 million registered voters. Nigerians went to its portal to inspect their names and found an empty page. “That is an outrage. A figure cannot answer an objection. A press announcement cannot tell a voter whether his/her name has been omitted. Show Nigerians the register. “I cannot recall a more brazen invitation to distrust the voter register. INEC announced a seven-day exercise and then failed to make the register available on the portal provided for public scrutiny. ‘’Section 19(1) of the Electoral Act 2026 requires display at registration areas and online. INEC does not get to treat that requirement as optional. “Worse still, INEC’s chairman reportedly said on October 5 that the public display had already been completed. Nigerians were subsequently told it would take place from October 9 to 15. “Which statement is true? Where was the register published? For seven full days, or for no days at all? INEC must produce the dates, the links and the records of access. “Section 63(2) of the Electoral Act 2026 permits a returning officer to count a ballot paper without INEC’s official mark if satisfied that it came from a book supplied to the polling unit. What evidence will establish that origin?

‘’Who will verify it, and how will parties challenge a false claim? Nigerians cannot be denied access to the voters’ register before election day and then be asked to accept unmarked ballot papers after voting. “INEC must set out enforceable safeguards against counterfeit ballots, and the National Assembly must close any loophole that leaves the authenticity of a vote to an officer’s unsupported assurance. ‘’To date, INEC has yet to respond to inquiries about the identity of the companies awarded contracts to print sensitive election materials,’’ he stated

CCND Gives INEC Eight Days to Publish Voters Register Online or Face Legal Action A civic group, Concerned Citizens for Nigerian Democracy (CCND), has called on the Independent National Electoral Commission (INEC) to publish the preliminary voters’ register on its website by Friday, 30 October, or face court action. In a Freedom of Information (FoI) request addressed to the INEC Chairman, Professor Joash Amupitan, the group said Section 19(1) of the Electoral Act 2026 required the commission to publish the register not later than 90 days before a general election. For the presidential election of 16

January 2027, it said, the deadline was 18 October. CCND said it would ask the Federal High Court for “an order of mandamus compelling publication and an extension of the period for claims and objections” if the register was not posted online. The group noted that the Act required publication “at every registration area and on its official website.” It also acknowledged that INEC announced a physical display from 9 to 15 October, but said when it checked the commission’s voter registration website (cvr.inecnigeria.org) on 21 October, the page showed only the message “Service temporarily unavailable”, adding: “No preliminary register could be viewed or downloaded.” It added that there were public reports that voters at display centres could check only their own names on request. The group recalled that ahead of the 2023 elections, INEC published the register online with a process for claims and objections. “Citizens, parties and observers cannot check it for duplicate, deceased or unlawfully transferred entries, and the 14-day window for claims and objections is meaningless. The register is the foundation of the election,” It added.

2027: PRP Alleges Plot to Divide Party

Chuks Okocha in Abuja

The Peoples Redemption Party (PRP), has raised the alarm over an alleged plot to destabilise its ranks, undermine its electoral fortunes and weaken efforts to build a credible opposition coalition ahead of the 2027 general election. The party accused some of its former members and serving officials of allegedly working to create divisions within its ranks and sabotage its grassroots support. In a statement in Abuja, the PRP National Chairman, Dr Hakeem BabaAhmed, alleged that those behind the plot were seeking to deploy hundreds of millions of naira to influence party members and create a faction within

the organisation. The party did not however name the individuals or provide evidence to substantiate the allegations in the statement. Baba-Ahmed urged the party’s members and the public to resist what he described as attempts to subvert the party, particularly the alleged recruitment of polling agents by individuals without the authority to do so. He said, “Attempts to recruit polling agents for the party by persons with no authority to do so should be resisted. A huge amount of money may be available to buy members’ support for opposition candidates by party officials. These efforts should be resisted and exposed,” Baba-Ahmed said.

The PRP chairman also warned serving party officials allegedly involved in the scheme that they would face disciplinary action. “The persons in the governing party involved in this scheme have been advised to steer clear of the PRP and distance themselves from attempts to create a faction with their party’s funds and their names. Serving officers of the Party involved in this scheme will face disciplinary measures,” he added. Baba-Ahmed assured the party’s candidates and supporters that its leadership would not compromise their loyalty and commitment, insisting that the PRP remained determined to challenge the continuation of the current administration beyond 2027.

FRIDAY, OCTOBER 23, 2026 • THISDAY

NEWS

YOU’RE DOING WELL...

President Bola Tinubu receives a plaque of grand fellow of national hospitality and tourism from the Director-General and Chief Executive Officer of the National Institute for Hospitality and Tourism (NIHOTOUR), Aare Abisoye Fagade... yesterday

Makinde Knocks Tinubu over Budget Implementation, Pledges to Reset Nigeria Says president should stop using backdoor to cause crisis for opposition parties Challenges him, other candidates to fitness test for office

Chuks Okocha in Abuja and Fidelis David in Akure Presidential candidate of the Allied Peoples’ Movement (APM), Governor Seyi Makinde of Oyo State, has criticised the administration of President Bola Tinubu over its budgetary processes, questioning which budget the federal government is currently implementing, while promising to reset Nigeria through an inclusive economic development agenda if elected president in 2027. Makinde, who spoke yesterday at the APM Town Hall Meeting in Akure, the Ondo State capital, also challenged his presidential rivals to demonstrate their physical fitness for the demands of the presidency, insisting that Nigeria needed an energetic leader capable of confronting its mounting economic, security and developmental challenges. “While I will not make age an issue of this campaign, I will make energy an issue. Having energy, being able to stay up late, withstand the rigours of the office and tackle the challenges that we are faced with as a country,” he said. In a challenge apparently directed at other presidential contenders, the governor, who jumped down from the podium to show his agility and fitness said, “When they bring their own presidential candidates, let the

candidates come here and also jump. If they can do that, vote for them.” Makinde questioned the federal government’s budget implementation, contrasting it with what he described as improved budget performance in Oyo State since he assumed office. “Tinubu’s administration right now, we don’t know which budget they are even operating on for Nigeria. Is it the 2023, 2024 or 2026 budget?” he asked. According to him, Oyo State’s budget performance, which he said stood between 28 and 30 per cent before his administration, had risen to more than 70 per cent under his leadership. He added that his government had consistently operated its budget from January to December for over seven years, with budgets presented to the state House of Assembly, usually in November or December, and passed before the commencement of the following financial year. The APM candidate said he and his running mate, Musa Lawal Daura’s proposed Reset Nigeria agenda was designed to build an economy that would benefit the generality of Nigerians rather than a privileged few, arguing that national development must transcend regional interests, political affiliations and the politics of entitlement.

“We want a Nigeria that works for everybody. It is not a Nigeria that works for very few,” he said, rejecting what he described as “turn-by-turn nepotism” in which political leaders prioritise their regions or allies at the expense of national development. Makinde also defended his decision to contest the presidency despite the South-West producing the incumbent president, citing the 1999 presidential election, when former President Olusegun Obasanjo and former minister of finance, Oba Olu Falae, both from the region, contested against each other. “When the entire Nigeria ceded

the presidency to the South-West, we had two of our fathers, Baba President Obasanjo and Baba Olu Falae. They contested the presidency, both from the South-West, and heaven did not fall,” he said, adding that the region had presented two capable candidates for Nigerians to choose from. He said the Reset Nigeria agenda would prioritise infrastructure, education and security, stressing that natural resources alone could not guarantee economic prosperity without investment in skills and knowledge. He also argued that improved economic conditions would help

Negotiation between Federal Government and organised labour to avert looming industrial crisis has ended without resolving issues in dispute. The meeting convened at Ministry of Labour in Abuja on Wednesday could not reach any agreement hence talks was rescheduled for Tuesday, next week. A statement jointly issued by Nigeria Labour Congress and Trade Union Congress after meeting held 22nd October 2026 said that labour presented its demands in good faith but government delegation came

unprepared and without necessary mandate to engage. According to a statement signed by Acting General Secretary of NLC, Comrade Benson Upah, Labour demands include reduction in petrol prices to 2024 levels, renegotiation of national minimum wage, implementation of agreed tax relief, JOHESU terms of settlement, and Joint Public Service Negotiating Council demands on peculiar allowance, wage award and hazard allowance. “Labour presented its demands in good faith. Regrettably, government delegation came unprepared and without necessary mandates to

in tackling insecurity, arguing that kidnappings and banditry persisted despite the policy. “It is not about religion, language or party; it is about Nigeria. No one will fix Nigeria for us unless we do it ourselves,” he said, urging Nigerians to take collective responsibility for addressing the country’s challenges. National Leader of the APM and Bauchi State Governor, Senator Bala Mohammed, described Makinde as a presidential candidate with the capacity, pedigree and energy to lead the country, expressing confidence in his ability to deliver the party’s proposed reforms.

UNICEF, Airtel, FG Expand Digital Learning to One Million Nigerian Students Gbenga Sodeinde in Ado Ekiti Nigeria’s drive to bridge the digital divide in education received a major boost as the United Nations Children’s Fund (UNICEF), Airtel Africa, and the federal government reaffirmed their commitment to expanding access to free digital learning, improving teachers’ capacity, and equipping young Nigerians with employability and entrepreneurship skills. The development followed a joint

UNICEF-Airtel Africa delegation’s visit to Lagos and Abuja, where government officials, development partners, teachers, and students reviewed the impact of ongoing digital education initiatives across the country. The delegation, led by Chief of Staff to the Chairman of Airtel Africa, Mr. Garreth Spillane, visited Government Senior College, Agege, St. George’s U.N.A. Primary School, and Yaba College of Technology, all in Lagos,

FG-Labour Talks End in Deadlock, Rescheduled for Tuesday Onyebuchi Ezigbo in Abuja

address the concerns of young people and women while ensuring that no region or demographic group was left behind. Earlier, the National Chairman of the APM, Yusuf Dantalle, said the party was offering Nigerians an alternative amid rising living costs, insecurity and the difficulties confronting workers and households. Dantalle questioned why Nigerians continued to bear the burden of high petroleum prices despite the country’s status as a major oil producer. He also faulted the effectiveness of compulsory SIM card registration

engage substantively. No concrete commitments were secured, and outstanding issues remain unresolved,” the statement said. It said Minister of Labour requested adjournment to Tuesday to allow government assemble all relevant ministers and heads of departments and agencies for productive session. NLC said it remains committed to dialogue but will not accept indefinite delay. “We will report back to our organs, and if no meaningful progress is made on Tuesday, the relevant organs of NLC will decide next line of action,” it stated.

However, it directed affiliates to be on alert. “We urge all affiliates of NLC, all state councils and our civil society allies to be at alert and start mobilizing for possible action across nation while we hope tenets of our demands are met,” Upah said. The two Labour Centres urged Nigerian workers and general public to remain calm and resolute, assuring that it will continue to pursue interests of workers and masses through every legitimate means. The stalled talks come amid mounting pressure over cost of living and unresolved welfare issues in public service.

where students, teachers, and young people demonstrated how digital learning platforms, including Artificial Intelligence (AI), were enhancing classroom experiences while creating pathways to employment and entrepreneurship. The development was contained in a statement made available to THISDAY in Ado Ekiti, signed by both Femi Adeniran, Director, Corporate Communications and Corporate Social Responsibility (CSR), Airtel Nigeria, and Blessing Ejiofor, Communication Officer, UNICEF Nigeria. The partnership, according to the statement, had connected nearly 2,000 schools across Nigeria, reaching about one million students and more than 20,000 teachers, with over 19,000 teachers already trained in digital literacy. The initiative is also removing datacost barriers to learning through the zero-rating of key educational platforms, including the Nigeria Learning Passport, Federal Ministry of Education’s Inspire and Ignite platforms, Digital National Education Management Information System (NEMIS), and Youth Agency Marketplace (YOMA). The Nigeria Learning Passport alone has recorded more than 2.5 million registered students and nearly 100,000 registered teachers, providing learners with access to digital educational resources without internet data charges.

In Abuja, the delegation engaged with the Office of the Vice President and the Federal Ministry of Education on ways to further strengthen digital learning through improved connectivity, quality educational content, teacher training, inclusive design, stronger data systems, child online safety and sustainable financing. UNICEF Deputy Representative in Nigeria, Ms. Rownak Khan, said digital learning was critical to closing existing gaps and preparing children and young people for future opportunities. “Access to free digital learning not only bridges the digital divide but also brings children and young people closer to the knowledge, skills and opportunities they need to shape their and country’s future,” Khan said. She added that the partnership with Airtel and the Nigerian government was supporting teachers and creating pathways from learning to earning, stressing that girls, children with disabilities, and learners in underserved communities must be prioritised. For his part, Airtel Africa’s Chief of Staff to the Chairman and Foundation Committee member, Mr. Garreth Spillane, said connectivity could only deliver meaningful transformation when it enabled students to access quality digital education and helped teachers effectively deploy digital tools.

THISDAY • FRIDAY, OCTOBER 23, 2026

NEWS

INAUGURAL MEETING...

L-R: Director, Directorate of Special Duties, All Progressives Congress (APC) PBAT PCC, Chief Ayiri Emami; Co-director, Senator Ibrahim Hassan Hadejia; Deputy Director II, Dr. Aliyu Modibo; Secretary I, Ms. Usoro Akpabio; H.E. Amarya’u Abubakar, Alh. Sa’adu Usman Sintail, Pastor Timothy Ademola, Hon. Christy Akpehuan Omoruyi and other members after their inaugural meeting, yesterday PHOTO: SSDC

Lagos-Calabar Coastal Highway: My Disagreement with Umahi, Diri Speaks Out Labels Duke a jester, so-called national champion without base

Governor of Bayelsa State, Senator Diri, on Thursday, revealed his disagreement with Minister of Works, Senator David Umahi, on the ongoing Lagos-Calabar Coastal Highway project. Diri also disclosed the position of the South-south governors on the project, insisting that they are unanimous in their support for the coastal road, and are against its re-alignment with the East-West road. The governor was, however, unsparing in his response to the comments of former governor of Cross River State, Mr. Donald Duke, who he described as a jester, a pretender, and a politician without a base.

A statement by Diri’s Chief Press Secretary, Mr. Daniel Alabrah, said the governor spoke during the 200th session of the State Executive Council at Government House, Yenagoa. The governor said in the statement, “I read, like everyone else, that there would be a re-alignment and that the coastal road would be merged with the East-West Road, which I do not believe is the same project. That should be a South-south road. “I privately called the Minister of Works and said, ‘Honourable Minister, that is a no, no, no for us. These are two different projects. “I agree with you that the East-West

Road should be reconstructed. It is called the East-West Road, but its reconstruction should not take the place of the coastal road. “While you reconstruct the East-West Road, the coastal road must continue because you have already won the hearts of all the coastal states.’” He stated that the discussion got to a point that they disagreed. Diri stated, “I told him that, for me and my state, the coastal road must continue. He kept mentioning Mr. President’s name, and I felt that he was the implementer, and was the one who addressed the media. So, go back and tell Mr. President that

this is the position of the governors of the South-south, because I also speak as Chairman of the South-South Governors’ Forum.” On Duke, the Bayelsa State governor said he was perplexed watching a video clip of the former Cross River State governor speaking on the project on a television programme. Diri expressed shock that a son of the South-south could describe the project as not feasible because, according to him, Bayelsa was a swamp. He stated, “When I watched the video and listened to everything he said about the coastal road, what actually

NIIRA, Recapitalisation to Boost Investor Confidence, Protect Policyholders, Says Abiru Sunday Aborisade in Abuja

Chairman of Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru, has said the implementation of Nigeria Insurance Industry Reform Act (NIIRA) 2025 and the ongoing recapitalisation of insurance companies will strengthen policyholder protection, boost investor confidence, and position the industry to contribute more significantly to Nigeria’s economic development. Abiru, according to a statement by his media office on Thursday, made the comments in his goodwill message on Wednesday, October 21, after receiving an Honorary Fellowship from Nigerian Council of Registered Insurance Brokers (NCRIB). The council conferred the honour on the senator at the 2026 Closing Dinner of the National Insurance Conference and Exhibition, held at Shehu Musa Yar’Adua Centre, Abuja, in recognition of his contributions to reforms in the insurance industry. NCRIB particularly recognised Abiru’s engagement with industry stakeholders and his role in sponsoring the NIIRA 2025 as Senate Bill 393. President Bola Tinubu assented to the legislation on July 31, 2025. The law introduced reforms designed to strengthen capital requirements, improve risk-based supervision, promote sound corporate governance, and

enhance protection for policyholders. In his goodwill message, Abiru described the fellowship as more than a personal achievement, saying it represents recognition of the collective efforts of the National Assembly, the executive arm of government, regulators, and industry stakeholders to reposition insurance as a stronger pillar of Nigeria’s financial system. He stressed the importance of sustained collaboration among lawmakers, regulators and insurance professionals to ensure that the reforms delivered tangible benefits to the economy and the people. The senator stated that Nigeria’s insurance industry had considerable potential to support economic growth, protect businesses, and mobilise long-term funds but continued to face challenges, including low insurance penetration, inadequate public awareness, and concerns about consumer confidence. He said effective reforms were necessary to address the constraints and create an industry capable of meeting its obligations to policyholders while supporting businesses, infrastructure development, and investment. Abiru’s position comes as insurance companies continue to adjust to the recapitalisation requirements introduced under the reform framework. Citing a report by the National Insurance Commission (NAICOM) in

August 2026, the senator stated that 43 insurance and reinsurance companies had met the new minimum capital requirements. He said the development represented progress towards building financially stronger institutions with the capacity to underwrite larger risks, support business expansion, and provide greater protection to policyholders. A stronger capital base, he maintained, would improve the industry’s capacity to absorb losses and support investment, while effective supervision would help ensure that operators complied

with regulatory requirements. The senator’s argument is that recapitalisation must translate into tangible benefits for customers and businesses rather than remain a financial compliance exercise. For policyholders, stronger insurance companies and effective regulation are important for building confidence in the industry’s capacity to honour legitimate claims. For businesses and investors, a credible insurance system provides a means of managing risks associated with commercial activities, infrastructure projects and long-term investments.

made me respond was the example he gave using my state, Bayelsa. “He said the coastal road was not feasible, and his reason was that even the state capital of Bayelsa is a swamp. According to him, for the coastal road to pass through Bayelsa, 100 to 200 bridges would have to be constructed.” The Bayelsa helmsman, who described Duke, the Peoples Redemption Party (PRP) presidential candidate, as a pretender, said he did nothing as governor when the Bakassi Peninsula was ceded from Nigeria to Cameroon. Dir stated, “You pretend to be a presidential candidate of PRP. There is not even a councillor from PRP in Cross River. Not even in your own ward. Yet, you pretend to be a presidential candidate so that at the end of the day you can be rehabilitated. “You can continue to be your national and international champion without a nucleus, without a base. “I advise you to go back and settle the huge debts hanging over the heads of generations yet unborn, debts that you incurred and passed on to successive governments in your state. “Do not use Bayelsa State as an example of a place where roads cannot be built. You were in office when Bakassi was ceded out of Nigeria. But because you were not a local champion, you did nothing about it. “Above all, Donald Duke, you embarked on a white-elephant called Tinapa. You took loans and incurred debts that you placed a huge burden on the people of Cross River State and

every governor and government that succeeded you. That is because you were not a local champion. “I believe you are more of a jester and a pretender. You pretend to be a presidential candidate, even though you have been out of government for over a decade – almost two decades.” Diri explained that it was not in his character to engage in public disagreement or fight with people. According to him, “I am not one of those who insult people. I do not insult leaders or elders. But what you have done is not just about me. It is about my environment and my people. I will always stand tall to defend this environment and the people of Bayelsa State. “With our limited resources as a state government, we are building bridges and roads in the same swamp that he says cannot be developed. We are inviting him to come to Bayelsa since he has used our state as an example.” The governor said in his earlier response, he had reminded Duke that it was the same swamps that produced the golden egg that fuelled the entire Nigerian economy. He stated, “Yet, after that press statement, which I asked my Chief Press Secretary to issue, the former governor of Cross River State went back to say what I saw as more of an insult to my person. He started by saying, ‘That fellow.’ “Donald Duke, I am not that fellow. I am the sitting governor of Bayelsa State.

FG, Stakeholders Seek Promotion of Self Care in Tackling Public Health Challenges PHCs to play key role says SFH

Onyebuchi Ezigbo in Abuja

The federal government has said there is need to imbibe the practice of self-care as part of measures to address several public health emergencies including infectious diseases outbreak. At the same time, the Society for Family Health, said there is a strong link between self-care and the primary healthcare with sustainable financing, responsible use of technology, and

meaningful community participation in advancing universal health coverage. Minister of State for Health and Social Welfare, Dr. Iziaq Salako, stated this in Abuja on Wednesday at the inaugural National Self-Care Conference with theme “Self-care Puts Your Health in Your Hands: Test, Track, Thrive.” The minister said self-care is important in prevention and control of infectious diseases, including Ebola

Virus Disease currently being contained following index case reported on Monday. “I use this opportunity to call on Nigerian public to observe self-care like hygiene, appropriate disinfection and cooperate fully with public health officials to contain reported Ebola index case,” he said. Salako said the theme captures fundamental principle of modern healthcare underscoring imperative of

empowering people with knowledge, skills and tools to own their health. “Self-care extends healthcare beyond hospitals and clinics into our homes, workplaces and communities. It encompasses health promotion, disease and complication prevention, appropriate self-testing and responsible management of well-being. However, self-care does not replace professional healthcare nor absolve government of responsibility to provide accessible, affordable and quality services,” he said.

FRIday october 23, 2026 • T H i s d ay

NEWS

Appeal Court Rejects EFCC’s Supreme Court Bid against Aisha Achimugu Dismisses application for leave to appeal as lacking merit

Blessing Ibunge in Port Harcourt

The Court of Appeal sitting in Port Harcourt, Rivers State, yesterday, dealt another significant blow to the Economic and Financial Crimes Commission (EFCC) in its protracted legal battle with prominent businesswoman, Aisha Achimugu, dismissing the commission’s application for leave to challenge an earlier appellate judgment at the Supreme Court. The ruling, delivered yesterday, October 22, 2026, represents another important judicial victory for Achimugu, whose prolonged confrontation with the anti-graft agency has involved investigations, asset seizures, the freezing of corporate and personal bank accounts, and several court proceedings. In dismissing the EFCC application, the appellate court held that the commission had failed to establish sufficient

CHANGE of name

I, formerly known and addressed as Omodolapo Barakat Popoola, now wish to be known and addressed as Omodolapo Barakat Adewoyin. All former documents bearing the old name remain valid and refer to the same person. The general public should take note. I, formerly known and addressed as Josephine Esejindu, now wish to be known and addressed as Tobechukwu Ujunwa Josephine. All former documents bearing the old name remain valid and refer to the same person. The general public should take note. I, formerly known and addressed as MISS. ADELAKUN STELLA BISOLA, now wish to be known and addressed as MRS. ADISA STELLA BISOLA. All former documents bearing the old name remain valid and refer to the same person. The general public should take note. I, formerly known as MISS Omonigho IDRIS now wish to be called and addressed as MRS OMONIGHO ONAMARI HORSFALL. All former documents remain valid general public and authorities concerned should please take note I, formerly known, called and addressed as Miss. Mosunmayo Moyosore Ayorinde, now wish to be known, called and addressed as Mrs. Mosunmayo Moyosore Sadipe. All former documents remain valid. Authorities concerned and the general public should please take note.

I formally known and addressed as Miss. Eddy Odivwri, now wish to be known and addressed as Mrs. Edwin Odivwri . All formal documents remain valid. The general public should please take note.

CORRECTION of name This is to notify the general public that my name ONYENUCHE was erroneously captured as ONYENACHEYA while registering for WEMA Bank public offer, However, I wish to be addressed as ASUZU ONYENUCHE ROBERT.All documents remain valid. The general public, GTL Registrars Ltd, & other relevant authorities should take note.

This is to notify the general public that my name OGBONNAYA INNOCENT AARON was erroneously captured as OGBONNAYA INNOCENT while registering for my BVN, my DoB was also wrongly captured as 28/06/1992, instead of 01/04/1992. Henceforth, I wish to be addressed as OGBONNAYA INNOCENT AARON, while my correct DoB is 01/04/1992. All documents remain valid.The general public and other relevant authorities should take note.

grounds to justify granting the permission sought. Excerpt of the ruling shows that the court declared that the commission’s motion for leave to appeal its earlier judgment to the Supreme Court “lacks merit and accordingly dismissed.” Consequently, the decision leaves undisturbed, for now, the substantive judgment delivered by the same appellate court on July 22, 2026, which discharged an interim order freezing her bank accounts linked to Achimugu and corporate

Police Rescue 11 Ghanaian Fraud Victims in Ogun James Sowole in Abeokuta and Becky Uba Umenyili

Operatives of the Ogun State Police Command have rescued 11 Ghanaian nationals allegedly held hostage in the Sagamu area of the state, who were lured to Nigeria with promises of Canadian and Spanish visas. The victims, comprising seven males and four females, were allegedly deceived by a fellow Ghanaian national, who promised to facilitate their overseas travel, and extorted huge amounts of money from them before bringing them to Nigeria and holding them in captivity. Following a tip-off, the Anti-Kidnapping Unit of the Command launched an attack at the identified hideout and safely rescued all 11 victims. Recent investigations indicate that the victims are receiving appropriate care and support, while detectives intensify efforts to track down and apprehend all persons connected with the alleged criminal network. Meanwhile, the state Commissioner of Police, Mr. Bode Ojajuni, emphasized the Command’s resolve to protect lives and combat trans-national crime, as he lamented the heinous crime, stating categorically that there is “no haven for criminals who exploit the hopes of others.” The police boss enjoined the public to verify all overseas travel and visa-processing arrangements before making commitments, while also assuring them that the Command would make efforts to bring the culprits to justice.

entities associated with her. Besides, it constitutes a fresh procedural setback for the EFCC in its efforts to sustain the restrictions earlier imposed on the businesswoman’s financial operations. The latest development is particularly significant

because the earlier Court of Appeal judgment had raised fundamental questions about the manner in which investigating agencies deploy interim freezing orders and the limits of their statutory powers in relation to private individuals and corporate

organisations. In that judgment, a threemember panel comprising Justices Muhammad Ibrahim Sirajo, Ishaq Mohammed Sani and Eleojo Enenche unanimously vacated the freezing order initially granted by the Federal High Court

in Port Harcourt on April 10, 2025. The court held that allowing an interim ex parte freezing order to remain in force for more than 15 months amounted to an abuse of court process and a subversion of the rule of law.

Sultan of Sokoto Advocates Intelligence-led Policing

Onuminya Innocent in Sokoto

The Sultan of Sokoto, His Eminence, Alhaji Muhammad Sa’ad Abubakar III, has called for a paradigm shift toward robust, intelligence-led policing to tackle evolving security challenges in the country. The Sultan made the call recently when the new Assistant Inspector-General of Police (AIG) in charge of Zone 10, Ahmed Musa, paid him a courtesy visit at his palace in Sokoto. He said modern

policing requires proactive intelligence gathering, community partnership and professionalism to sustainably address insecurity in the North-west and the country at large. Alhaji Sa’ad Abubakar commended officers and men of the Nigeria Police Force serving across Sokoto State for their dedication and sacrifices in safeguarding the region. The Sultan warmly congratulated AIG Musa on his posting as the 25th AIG in charge of Zone 10

Headquarters, Sokoto, and expressed optimism for his success in the new assignment. He expressed hope that the AIG would return to the Seat of the Caliphate in an even greater leadership capacity, having distinguished himself in service. The religious leader assured the police leadership of the Sultanate Council’s sustained institutional support and deepened relationship with the Nigeria Police Force. The Sultan also underscored the importance of the forthcoming general elections, offering prayers for peace,

stability and decorum throughout the campaign period and the polls. Earlier, AIG Musa told the Sultan that the visit was part of his familiarisation tour and to formally announce his assumption of duty at the Zonal Command. The AIG, who was accompanied by the Commissioner of Police, Sokoto State Command, and other senior officers, said the visit was to identify with the traditional institution.

‘Stop Fanning Embers of Discord among Traditional Institutions in Yorubaland’

Sunday Okobi

The Isese Religious Association in Oyo, Oyo State, has cautioned members of the public, including bloggers, against unguarded utterances and retroactive actions that could create unnecessary tension and unhealthy developments among traditional institutions in Yorubaland. The Chairman of the Isese Worshippers Committee and the Asiwaju Awo of Oyo, Chief Onifade Olanipekun, gave the

warning at a press briefing held at the ancient Palace in Oyo town. Chief Olanipekun said: “Our kings and traditional institutions represent important aspects of our history, identity, customs, and collective heritage. They deserve responsible public engagement, constructive dialogue, and respect, even when opinions differ. “The unity of Yoruba land is a shared responsibility. We must not allow unverified allegations, inflammatory publications, or the actions

of a few individuals to create unnecessary divisions among our people and institutions.” He stated that the Isese Religion Association Oyo Alaafin, on behalf of the Isese community and Sàngó worshippers in Oyo, has categorically rejected allegations circulating on social media suggesting that the Isese community and Sàngó worshippers in Oyo have failed to support His Imperial Majesty, the Alaafin of Oyo, Oba Abimbola Akeem Owoade I.

According to him, “The association considers this allegation misleading and a misrepresentation of the relationship between the Isese community and the revered traditional institution of the Alaafin of Oyo. We therefore, wish to reassure His Imperial Majesty, the people of Oyo, and the public of our continued commitment to the dignity, honour, and preservation of the paramount ruler’s throne, as well as the cultural heritage and traditional values of Oyo Kingdom.

N3.5bn Revenue Hangs as Abuja Estate Residents Fight for Cof O

Residents of Prince and Princess of Estate are crying out to the Department of Lands, FCT Administration to compel the developers of the estate, Prince & Princess Properties Limited, to provide the necessary documents required for issuance of Certificates of Occupancy(CofO). The residents said they had applied for Cof O since 2015, attended several meetings and exchanged correspondences

with FCT Administration, but the developers of the estate had refused to provide the Lands Department of Administration with the required documents needed to process the title document. The action of the developers has cost the FCT Administration about N3.5 billion revenue that would have accrued to it the form of charges and fees for processing the title document. According to one of the

Executive Members of the Prince & Princess Estate Residents Association, “We have done everything necessary to process our Cof Os with AGIS (Abuja geographic information system), which is a unit in the Lands Department. We have met all conditions and are ready to pay the N3.5 million processing fee per building, but the developers of the estate - Prince & Princess Properties Limited – are

deliberately withholding critical information from the FCT Administration, thus denying the government of the needed revenue.” He added: “The over 1,100 home owners in this estate are therefore asking the FCT Minister, Nyesom Wike, to compel the developers to provide the document to AGIS so that the process can move forward and/or give an executive waiver for the issuance of the certificate of occupancy.

Osun Engages Security Agencies on New Transport Law Yinka Kolawole in Osogbo

The Osun State Government has engaged security agencies and other relevant stakeholders on the implementation of the state’s Integrated Transport, Traffic and Park Management Law, 2026, ahead of its enforcement. The engagement, held yesterday, was aimed at promoting effective traffic management, curbing illegal revenue collection and ensuring orderliness in the state’s transportation sector.

Speaking at the event, the Chairman of the state House of Assembly Committee on Public Works and Transport, representing Irewole/Isokan state constituency, Hon. Abiola Waheed Ibrahim Inaolaji, said the meeting was designed to familiarise participating institutions with the provisions of the law, clarify their responsibilities and strengthen inter-agency collaboration. According to the lawmaker, the law was designed to protect residents and the state’s transport infrastructure.

Inaolaji emphasised that enforcement must be carried out within the confines of the law, warning against harassment of motorists, unauthorised revenue collection and abuse of power by enforcement officers. He said the success of the law would depend largely on public confidence, cooperation among relevant agencies and strict adherence to its provisions. According to him, the legislation is intended to protect residents, improve the state’s transportation system

and eliminate thuggery and violence associated with motor park activities. Also speaking, the Osun State Commissioner of Police, Ibrahim Zungura, described the law as a significant development in the regulation of the state’s transportation sector. Zungura, who noted that the law was signed on October 15, 2026, said it addressed critical aspects of road management, including traffic lights, vehicle impoundment and towing.

THISDAY • FRIDAY, OCTOBER 23, 2026

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FIFA Approves Normalisation Committee to Run Nigeria Football

CAF, FIFA to appoint the committee members to run NFF until May 31 next year Duro Ikhazuagbe Federation of International Football Association (FIFA), has approved the appointments of a Normalisation Committee to run the affairs of the Nigeria Football Federation (NFF) until fresh elections are conducted into the executive committee of the federation. The Bureau of the FIFA Council at its meeting in Zurich, Switzerland penultimate Thursday, approved the appointment of a Normalisation Committee for the NFF whose leadership resigned enmass last August. According to a letter signed by FIFA Secretary General, Mattias Grafström and addressed to the Ag. General Secretary of the NFF, Dr Emmanuel Ikpeme MON, “the normalisation committee shall consist of a suitable number of members, who will be appointed jointly by FIFA and CAF as soon as possible.” The letter also informed that “the period during which the normalisation committee shall perform its functions shall expire as soon as it has fulfilled all of its tasks, but by no later than 31 May 2027.” Specifically, the FIFA letter warned that nine of the members of the normalisation committee will be eligible for the positions to be filled during the upcoming NFF elections under any circumstances. In the meantime, the Secretariat of the NFF will continue with the day-to-day running of the organisation and administration of the country’s football pending the appointment of the Normalisation Committee. The approval of a Normalisation Committee for the NFF is a major shift towards resolving the crisis that engulfed Nigerian football last August when President

Ibrahim Gusau, General Secretary, Mohammed Sanusi and the other 11 members of the board had to resign en-mass. The resignation of the board fol-

lowed spate of failures witnessed by Nigeria’s national teams across the spectrum of the game. The inabilities of the Super Falcons to qualify for next year’s Women’s World Cup in

Brazil was the immediate call for the resignation of the Gusau-led board. Super Eagles had earlier missed out of the 2026 World Cup hosted by USA, Canada and Mexico. The

team also missed the 2022 edition hosted by Qatar. However, even with the approval of a Normalisation Committee, Nigeria’s football stakeholders are

Ndidi Scores First Goal of New Europa League Season, Dessers Fires Brace

Wilfred Ndidi...was on target for his first goal of the season against Crystal Palace in a Europa League league phase clash yesterday

LA 2028 Olympics: Chelle Unleashes 31 ‘Home Boys’ Against DR Congo Head Coach Éric Chelle has invited a total of 31 players to the camp of the U23 National Team, Olympic Eagles, as the countdown begins for next month’s U23 Africa Cup of Nations qualifying fixture against the U23 National Team of Democratic Republic of Congo. On the roster are four goalkeepers, nine defenders, eight midfielders and 10 forwards. Both countries will do battle in the first leg of the fixture inside the TP Mazembe Stadium in Lubumbashi on Friday, 13th November,

now awaiting those to be appointed to run the federation until May 31, 2027 when fresh elections must have be held for new gladiators in the corridors of football power.

with the return leg at the Remo Stars Stadium, Ikenne-Remo on Tuesday, 17th November. The winner over two legs of the fixture will reach the final round of the qualifying phase for the U23 AFCON to be held in Egypt next year, at which Africa’s representatives at the Los Angeles Olympic Men’s Football Tournament will emerge. Nigeria, winners of Olympic football gold (Atlanta 1996), silver (Beijing 2008) and bronze (Rio de Janeiro 2016), have not

participated in the Men’s Football Tournament of the Olympics in the past 10 years. The Olympic Eagles drew a bye into this second round, while DR Congo edged Mauritania over two legs to set up a date with Nigeria. All the invited players are to report at the AM2PM Hotel, Ijebu-Ode on Sunday, 25th October. LIST OF INVITED PLAYERS: Goalkeepers: Chinemerem Olughu (Nasarawa United); Clinton Andy (Rivers United); Ebenezer Harcourt (Sporting Lagos); Michael

Atata (Ikorodu City) Defenders:Gift Subi (Warri Wolves); Hillary Zion (Sporting Lagos); Emmanuel Utake (Rivers United); Chibueze Oputa (Rangers Int’l); Marvelous Freedom (Ikorodu City); Kenneth Igboke (Rangers Int’l); Odinaka Alfred (Nasarawa United); Emmanuel Ochobi (Rivers United); Aliu Sugau (Barau FC) Midfielders:Freeman Wuchirwe (Bendel Insurance); Victor Samuel (Sporting Lagos); Umar Mohammed (Nasarawa United); Lucky Oraro (Warri Wolves); Aderemi

Adeoye (Ikorodu City); Sani Shuaibu (Warri Wolves); Muhammad Salihu (Sporting Lagos); Jude Eventus (Warri Wolves) Forwards:Junior Ikechukwu (Ikorodu City), Timothy Zechariah (Rivers United), Williams Wonah (Enyimba FC), Ayoola Olaniyan (Sporting Lagos), Chijioke Samuel (Enyimba FC), Jofrank Joshua (Nasarawa United); Chimobi Igwilo (Rangers Int’l); Alex Oweifaleya (Bendel Insurance); Abdulmuiz Adeleke (Sporting Supreme); Habila Simon (Wikki Tourists)

Super Eagles Captain, Wilfred Ndidi, scored his first goal this season against Crystal Palace last night as his Turkish side Besiktas earned a hard-fought point in an entertaining four-goal thriller. And it was the former Leicester City midfielder Ndidi who coasted from the midfield past the Palace defence with nobody tracking him before he found the net for the opening goal of the UEFA Europa League league phase clash. Palace forward Jean-Philippe Mateta powered in a brilliant 55th-minute strike from an angle after pouncing on a misplaced pass in the Besiktas defence after Yeremy Pino had cancelled out Ndidi’s opener for the Turkish side. However, Benin Republic’s Junior Olaitan found the net from outside the area in the 73rd minute to deny Palace the victory their performance deserved. Palace started strongly against a Besiktas side which made nine changes from a weekend defeat by Trabzonspor and the visitors thought they had the lead in the sixth minute when Mateta finished off a superb move but the French striker was ruled to be offside by the Video Assistant Referee (VAR). Elsewhere, Ndidi’s Super Eagles national teammate, Cyril Dessers, scored twice to help Greek side Panathinaikos defeat hosts Kairat Almaty 5-1 in a Europa Conference League game. Panathinaikos top the table with six points from two games. Dessers scored from penalty spot in the 24th minute to give the visitors a 2-0 lead. He went on to complete his brace with a goal in the 48th minute to make it 3-0. He was substituted in the 56th minute.

RESULTS EUROPA LEAGUE A’Amenia 0-4 Az Alkmaar D’Zagreb 2-4 Nijmegen Ferencvaros 4-1 Torrense Juventus 2-2 Rennes Poznan 1-1 Sunderland OFI Crete 0-2 Leverkusen Royale. 4-0 H Beer Sheva Celje 2-2. Salzburg

CONFERENCE LEAGUE K’Almaty 1-5 Panathinaikos

Nigeria Wins Bid to Host 2028 ITTF Africa Championships

Nigeria’s organisation savvy and experience were considered as 23 of the 38 delegates at the annual general meeting (AGM) of ITTF Africa held in Tangier, Morocco, voted in favour of the West Africa nation ahead of Tunisia as the host of the continent’s elite tournament, ITTF Africa Championships.

After announcing its hosts for continental tournaments in 2027 and 2028, the selection of host for the continental bouquet tournament, Africa Championships was fiercely contested by Nigeria and Tunisia. The delegates later agreed to go into voting to decide the eventual host and 31 delegates were physically present

while seven proxies were certified to cast votes. After the votes, Nigeria was supported by the delegates with 23 of the 38 certified voters cast their vote for the West Africa nation ahead of Tunisia who garnered 15 votes to concede the hosting right to Nigeria. Other hosts decided at the

AGM include Libya (Cup), Algeria (Championships), Botswana (Youth) and Nigeria (Para) for 2027 while the host for 2028 event include, Nigeria (Championships), Rwanda (Youth) and Egypt (Para). The host of the Cup in 2028 is yet to be decided. For the President, Nigeria Table Tennis Federation (NTTF), Adesoji

Tayo, the confidence reposed on Nigeria by the delegates was overwhelming, while promising to deliver a world-class tournament in the city of Lagos. “We want to thank all the delegates for putting their trust in Nigeria to host a befitting tournament in 2028 as well as the African Para Championships

in 2027. As an experienced organisers of major table tennis tournaments in the world, we are poised to deliver a seamless event that continues to attract more people to Nigeria. The city of Lagos will again witness the best of table tennis and we assure all our visitors that Nigeria will be the place to be in 2028,” he said.

T H I S D AY • FRIDAY, OCTOBER 23, 2026

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STRENGTHENING THE NIGERIA–CHINA FINANCIAL CORRIDOR...

L-R: Nigeria’s Ambassador to the People’s Republic of China, Lt. Gen. Abdulrahman Bello Dambazau (rtd); the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso; the Chairperson of CIG Motors, Chief Diana Chen; and the Deputy Governor (Economic Policy) at the CBN, Mr. Philip Ikeazor, at the meeting between the CBN and business, financial and industry leaders actively engaged in the Nigeria–China corridor, held in Beijing, China, on Wednesday

DAKUKUPETERSIDE BENEATH THE SURFACE

Nigeria Decides 2027 and the Burden of Proof

voter who has spent hours in a queue should not need to understand computer servers to believe that a ballot will be counted. The obligation runs the other way. Those entrusted with conducting an election must demonstrate that its outcome reflects the choices citizens made. As Nigeria approaches 2027, this should be the measure of every technological innovation: does it make electoral power more accountable to the people whose consent gives that power legitimacy? The attraction of technology is understandable. Where human discretion has attracted suspicion, a machine can seem to promise impartiality. Biometric checks offer firmer identification; digital records offer opportunities for scrutiny. Artificial intelligence could improve logistics and detect inconsistencies. Yet the promise becomes dangerous when people mistake sophistication for integrity. Every system still reflects decisions about procurement, access, oversight and what happens when something goes wrong. Those decisions remain human, even when their consequences appear on a screen. Nigeria’s 2023 elections exposed the fragility of the relationship between technical capability and public confidence. The Bimodal Voter Accreditation System, BVAS, sought to strengthen voter identification through biometric checks. The INEC Results Viewing Portal, IReV, enabled public access to images of polling unit result sheets. Their functions differed, but their democratic value lay in making key stages of the process more open to verification. Delays in uploading presidential results undermined that promise. They did not, by themselves, establish that votes had been altered. Equally, the lack of expected information mattered. Citizens were entitled to ask what failed, what remained secure, and how to check the records. A transparency mechanism cannot build confidence through its promised availability and then become irrelevant when people need to consult it. Its failure requires an explanation proportionate to the trust invested in it. Behind these questions stood people who had paid a price to participate. A trader who closed a stall had surrendered income. A worker who travelled home to vote had committed money and time. When the count became difficult to follow, their uncertainty concerned more than a preferred candidate. It touched the belief that peaceful participation mattered. An election can leave institutions formally intact while making citizens less willing to place their hopes in them again. This is the democratic cost Nigeria must avoid in 2027. Confidence cannot be repaired by asking people to ask fewer questions. It grows when institutions give better answers

INEC Chairman, Prof. Joash Amupitan and make those answers examinable. Before deploying AI, INEC should explain its intended tasks, the data it will process and the suppliers involved. Responsibility for errors must be identifiable in advance. Public scrutiny belongs before deployment, where it can still influence decisions, and after failure. Communication during disruption deserves its own preparation. An institution should be able to say what it knows, what remains uncertain, and when it will provide another update. Silence invites speculation; premature certainty can destroy credibility when later evidence contradicts it. Clear communication also protects officials from having every operational problem interpreted as deliberate manipulation. It gives the public a basis for distinguishing an interruption from a breach and a documented correction from an unexplained alteration. The aim is neither automatic suspicion nor automatic acceptance, but judgement informed by records that remain available for independent examination after the immediate political controversy has passed. Independent testing should therefore produce evidence of readiness under actual operating conditions. The examination must include interrupted power, poor connectivity, heavy demand, and uneven technical support. Publish relevant findings and corrective actions without exposing sensitive information. A successful demonstration is reassuring; a serious attempt to discover failure is more useful. The public needs to know which weaknesses were found, which were corrected and which limitations still require practical safeguards.

Those safeguards must reach the polling unit. Officials need clear, lawful instructions for equipment and network problems, supported by rehearsals and accessible technical assistance. Voters and observers should understand the applicable procedures. Otherwise, discretion exercised under pressure can appear indistinguishable from favouritism. Preparedness also means designing for elderly voters, people with disabilities and people whose biometric details are difficult to capture. Efficiency has little democratic value if its apparent success conceals citizens who could not participate. Verification must continue through the count. A traceable link must exist between the polling unit record, its published image, and the figures carried through collation. Where discrepancies appear, a functioning process must investigate and explain them. Merely allowing citizens to see a problem is insufficient. Visibility without a route to correction can deepen the sense of powerlessness. Technology should make irregularities harder to conceal and evidence-based challenges easier to pursue. AI can support this work, but its authority needs firm boundaries. A system that flags a suspicious record raises a question; it does not establish wrongdoing. Decisions affecting registration, eligibility or results must remain subject to authorised human judgement and established procedures. Human oversight must involve someone who can examine the evidence, challenge the output, and explain the decision. A signature beneath an opaque recommendation offers weak protection if the signatory cannot meaningfully assess its basis. The information environment presents a different danger. A cloned voice could announce a false withdrawal; a fabricated security warning could discourage turnout. Such deception can damage an election without touching a result sheet. Worse, convincing fabrications create an excuse to dismiss authentic evidence as fake. Citizens may increasingly believe whatever confirms their loyalties. When disagreement extends to whether any reliable account of events is possible, democratic argument loses the common ground on which persuasion and accountability depend. This danger becomes intimate when misinformation arrives through trusted relationships. A relative’s forwarded message carries social authority that its contents may not deserve. Citizens should pause before sharing material designed to provoke fear or fury. But individual caution needs institutional support. Electoral authorities, journalists, platforms and civil society should establish coordinated arrangements for early warning, verification and rapid correction. Reliable information must reach people through radio and in Nigerian languages, with clear channels to check urgent claims. Political parties must answer for the persuasion they

organise. Standards against deceptive impersonation should govern campaign staff, contractors and commissioned content. Candidates should correct false claims produced by their campaigns and repudiate dangerous fabrications circulated in their name. Demanding integrity from electoral officials while rewarding dishonesty among supporters hollows out the principle being defended. The duty to respect voters begins with how their choices are influenced, long before those choices are counted. Journalists face a related discipline. Reporting that a platform failed differs from explaining why it failed or what happened to the underlying records. Speed should not erase that distinction. Observers and fact-checkers need preparation and access sufficiently to examine evidence. Platforms must strengthen reporting channels and responses to deceptive synthetic content in Nigerian languages. Verification becomes more credible when its methods are transparent, and its standards apply consistently across political interests. Cybersecurity requires continuous work: controlled access, protected backups and rehearsed recovery plans. Yet security cannot be a universal answer to accountability demands. Nor should combating disinformation justify suppressing legitimate criticism. Citizens must remain free to question electoral authorities, including sharply. The institutional response should distinguish demonstrable deception from unwelcome scrutiny. Protecting the election means preserving the freedom to expose its weaknesses and demand correction. Suppliers, too, must accept obligations that survive the sales presentation. Electoral systems need dependable support, auditable records and clear contractual responsibility for failures. Commercial confidentiality should not make essential questions unanswerable. Developing African technical expertise and regional cooperation could strengthen independent assessment and reduce reliance on suppliers’ assurances. The lasting investment is institutional knowledge: people who can examine systems, investigate incidents, and retain expertise after a contract ends. Shared responsibility requires careful language. Voters cannot repair infrastructure they did not procure or disclose records they do not control. Accountability must follow authority. INEC answers for administration, suppliers for their obligations and parties for campaign conduct. Each actor needs duties against which performance can be judged. Otherwise, collective responsibility becomes a comfortable way to distribute concern while detaching the power to prevent failure from the consequences of failing. •Dr Dakuku Peterside is a turnaround expert in leadership and management.

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