FRIDAY 7TH AUGUST 2026 by THISDAY Newspapers Ltd

AfDB: Nigeria’s Revenue Base Weak Amid $2.3tn Infrastructure Development Need Flags low productivity as key national challenge

Emmanuel Addeh in Abuja

The African Development Bank

(AfDB) has identified Nigeria’s weak domestic revenue base and persistently low productivity as the

Urges Nigeria to rationalise tax exemptions, reduce leakages

country’s most pressing economic constraints, warning that unless both are addressed, meeting an

estimated $2.3 trillion infrastructure financing requirement by 2043 will remain an uphill task.

In its 2026 Country Focus Report on Nigeria, themed: ‘Mobilising Nigeria’s Development Financing

at Scale in a Fragmented World’ Continued on page 8

APC Chairman, Yilwatda,Defends FG’s Economic Reforms at Jos Colloquium, Says Policies Delivering Results... Page 26 Friday 7 August, 2026 Vol 31. No 11443. Price: N400

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Fake Agency: ICPC Absolves Gbajabiamila, Seeks Adeniyi Adeyemi’s Prosecution Says suspect also floated FIPA, one other fictitious organisation Identifies collaborators in SGF, HoSF, AGF, Budget, NITDA offices Dare: Tinubu to study report, consult AGF before taking action FRSC: How phantom agency listed Tinubu as board chair Deji Elumoye and Adedayo Akinwale in Abuja

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday absolved

the Chief of Staff to President Bola Tinubu, Femi Gbajabiamila of any blame in the controversial

Presidential Foreign Investment Promotion Council (PFIPC) saga. The anti-graft body revealed that

the purported Director General of the PFIPC, Prince Adeniyi Adeyemi, was never appointed by

the federal government and that Continued on page 8

In Deft Move, Tinubu Directs EFCC to Unfreeze Osun Account Calls Adeleke, expresses deep embarrassment over timing of action Atiku, ADC fault claim of anti-graft agencies’ independence Urge president to order ICPC to free El-Rufai Accord Party alleges plot to influence Osun poll Adeleke slams N2bn suit against EFCC

Story on page 8

TINUBU MEETS BOARD AND MANAGEMENT OF NIGERIAN EXCHANGE GROUP...

L-R: Chief Executive Officer of Chairman, Nigerian Exchange Group (NEG), Temi Popoola; Chairman NEG, Alhaji Umaru Kwairanga; President Bola Ahmed Tinubu; Minister of Finance and Coordinating Minister of Economy, Taiwo Oyedele; Minister of Information, Muhammed Idris; Governor of Central Bank of Nigeria, Olayemi Cardoso; and Chairman, Nigeria Revenue Service, Dr. Zacch Adedeji PHOTO: GODWIN OMOIGUI. during the president’s audience with board and management of Nigerian Exchange Group at the presidential Villa Abuja, yesterday

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(SELF‑SERVICE EMERGENCY USSD CODE TO BLOCK ACCOUNTS) +234 201 278 7000, 091‑1987‑7000, 0700ZENITHBANK zenithdirect@zenithbank.com

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THISDAY • FRIDAY, AUGUST 7, 2026

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

SECOND EDITION OF ANNUAL EKO HEALTH CONVENTION ORGANISED BY LAGOS MINISTRY OF HEALTH...

L-R: Lagos State Commissioner for Health, Prof Akin Abayomi; Governor of Lagos State, Mr. Babajide Sanwo-Olu; First Lady of Lagos State, Dr. Ibijoke Sanwo-Olu; Permanent Secretary, Lagos State Ministry of Health, Dr. Dayo Lajide; Deputy Governor of Lagos State, Dr. Kadri Obafemi Hamzat; and the Chairman House Committee on Health, Lagos State House Assembly, Hon. Musbau Aina-Lawal, at the Second Edition of the Annual Eko Health Convention organised by the Lagos State Ministry of Health with the theme: Building a Healthier Lagos - Connecting Access with Excellence, held at the Oriental Hotel, Lagos, yesterday

Report: Manufacturers Yet to Feel Significant Impact on Productivity from Increased Capital Spending Bemoans high interest rate on bank loans, blames CBN’s high MPR of 26.5 per cent Dike Onwuamaeze Chief executive officers (CEOs) of manufacturing companies in Nigeria have said government infrastructure spending has not significantly boosted their productivity. The CEOs also objected to claims of improvements in foreign exchange sourcing and expressed dissatisfaction with the size and cost of credit from commercial banks. They raised concern about overregulation of business activities in Nigeria and uncertainty surrounding the implementation of the Nigeria Tax Act 2025, which might cast doubts on its expected benefits. The CEOs also said the persistent gridlock at ports was constraining timely importation of materials for production plants. They expressed the views in the Manufacturers’ CEOs Confidence Index (MCCI) report for the second quarter of 2026, which showed that the index gained 3.4 points by growing from 48.7 in the first quarter of 2026 to 52.1 in the second quarter. MCCI is a publication of Manufacturers Association of Nigeria (MAN) that measures changes in the quarterly pulse of manufacturing activities in relation to movements in the macro-economy and government policies by aggregating the views of CEOs of manufacturing companies on changes in the economy. The report said, “Manufacturers’ CEOs expressed dissatisfaction with the cost and size of credit from commercial

banks to the manufacturing sector. “They bemoaned high interest rates on bank loans, which they directly blamed on the CBN’s high MPR of 26.5 per cent. “In addition, manufacturers claimed not to have felt a significant impact from government infrastructure on their productivity. “This is somewhat understandable as capital expenditure takes time to generate substantial benefits for the real sector. “Similarly, manufacturers objected to improvements in foreign-exchange sourcing, which have left them producing below their potential. “Unlike the case of infrastructure, this cannot be excused, as the passthrough of Naira liberalisation should have matured after more than three years.” The report added; “Manufacturing executives were still concerned about the overregulation of business activities in Nigeria. “The uncertainty surrounding the implementation of the Nigeria Tax Act 2025 appeared to fuel doubts about the expected benefits of the tax reforms. “While the persistent gridlock at ports constrained the timely importation of materials for production plants, manufacturers reported improvements in local sourcing.” The MCCI said patronage of Nigeria-made products by Ministries, Departments and Agencies (MDAs) had not been incentivised. “This has prevented inventories of manufactured products from falling

noticeably,” the MCCI said. The report said manufacturers reported a return of confidence in doing business in Nigeria within the second quarter. It attributed the return to confidence to the expected commercial environment rather than the economy’s hitherto

business and employment conditions. The MCCI said the recent tax laws, executive orders, and other business-related policies (Nigeria Industrial Policy and “Nigeria First” Policy) gave a more positive outlook on manufacturing executive. It recommended that Central Bank

of Nigeria (CBN) should further reduce the Monetary Policy Rate (MPR) to below 20 per cent, especially for credit that flowed to the manufacturing sector. The report also recommended an improvement in supply of foreign exchange for manufacturers who importing crucial machinery,

spare parts, and materials for local production. The report recommended that the federal government should give legal force to Executive Orders 003 and 005 in order to promote patronage of Made-in-Nigeria manufactured products.

Recovery Efficiency Slumps as Discos Collect N208bn from N253bn Billing Ikeja, Eko emerge strongest performers

Emmanuel Addeh in Abuja Nigeria’s electricity Distribution Companies (Discos) collected N208.15 billion from customer billings of N252.87 billion in May 2026, translating to a collection efficiency of 82.32 per cent, according to the latest commercial performance factsheet released by the Nigerian Electricity Regulatory Commission (NERC). The report showed that although the utilities marginally increased the amount billed during the month, their ability to recover the full value of electricity supplied weakened, as overall revenue recovery efficiency declined to 77.31 per cent from the previous month. According to the regulator, the Discos received electricity valued at N328.95 billion during the review

period, an increase of 8.58 per cent over April. However, only N252.87 billion, representing 76.87 per cent of the energy received, was billed to customers, indicating that nearly one quarter of electricity supplied was not converted into customer bills. Besides, the billing efficiency of 76.87 per cent represented a decline of 6.45 percentage points compared to April, suggesting worsening commercial losses despite the higher volume of electricity received by the Discos. From the total billings of N252.87 billion, the Discos collected N208.15 billion, leaving about N44.72 billion uncollected during the month. Nevertheless, collection efficiency improved by 1.66 percentage points to 82.32 per cent, indicating that the utilities were more successful in recovering payments from customers who were

billed. The report further revealed that the average tariff approved by the regulator stood at N124.39 per kilowatt-hour, while the actual average amount collected was only N96.16 per kilowatt-hour. Consequently, overall revenue recovery efficiency fell to 77.31 per cent, down by 4.80 percentage points from April. NERC uses revenue recovery performance to measure how much of the approved tariff the Discos are actually able to recover from customers after accounting for billing and collection losses. Among the distribution companies, Ikeja Electricity recorded the strongest commercial performance in terms of collection, achieving a collection efficiency of 97.28 per cent after collecting N41.51 billion from billings of

N42.67 billion. The Disco also posted the highest revenue recovery efficiency of 94.63 per cent, collecting an average of N115.73 per kilowatt-hour against an approved tariff of N122.30 per kilowatt-hour. Eko Electricity Distribution Company also maintained strong performance. It billed N40.52 billion from energy worth N44.69 billion received, translating to the highest billing efficiency of 90.66 per cent among all the Discos. The company collected N34.59 billion, representing a collection efficiency of 85.37 per cent, while recording a revenue recovery efficiency of 91.54 per cent. Similarly, Abuja Electricity Distribution Company billed N42.16 billion from energy valued at N51.79 billion and collected N35.94 billion, resulting in a collection efficiency of 85.25 per cent and a revenue recovery efficiency of 84.84 per cent.

Seplat CEO Urges Oil Firms to Prioritise Asset Integrity to Unlock Value Emmanuel Addeh in Abuja

The Chief Executive Officer of Seplat Energy, Effiong Okon, has urged indigenous oil and gas operators to prioritise asset integrity, life extension and the elimination of obsolete infrastructure to maximise asset value, improve operational efficiency and deliver stronger returns on investment. Speaking during a panel session at

the 49th Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers (SPE) in Lagos, Okon said independent operators must adopt a comprehensive approach to asset management if they are to build resilient energy systems in an evolving industry landscape. Addressing the conference, themed: “Building Resilient Energy Systems in a Rapidly Evolving Energy

Landscape,” the Seplat boss stressed that maintaining critical equipment at top quartile performance was essential to reducing production losses and improving reliability. According to him, operators should target equipment availability of 95 per cent, meaning critical facilities should remain operational for at least 95 per cent of the time. “When you do all that, you drive down unscheduled deferment. In

fact, you must follow your oil and gas molecules from the reservoir to export. The approach is all encompassing. You must understand your reservoir capacity, well capacity, your flow line and surface facilities. These mean a total understanding of the asset,” he said. Okon identified effective water treatment, elimination of routine gas flaring, monetisation of associated gas, optimisation of evacuation routes

and improved logistics management as key measures capable of lowering operating costs and improving efficiency. He said operators should focus on commercialising every molecule of gas rather than paying penalties for flaring, while also strengthening logistics capabilities and strategically outsourcing selected operations to improve performance. The Seplat CEO also underscored

the importance of sustained investment in human capital, arguing that building technical expertise across subsurface operations, well management and production facilities was critical to unlocking greater value from existing assets. According to him, improved technical knowledge would strengthen capital raising efforts and ultimately enhance value optimisation across the industry.

FRIDAY, AUGUST 7, 2026 • THISDAY

NEWS

ICPC PRESENTING INTERIM REPORT ON PFIPC TO TINUBU...

Chairman, Independent Corrupt Practices and other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu (L) presenting transmittal interim investigation report on the purported Director General PHOTO: GODWIN OMOIGUI. of Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi Matthew, to President Bola Ahmed Tinubu, at the Presidential Villa Abuja, yesterday

FG Targets Full Electrification of 30% of Nigeria’s Health Facilities by 2027 NISO, Canada explore partnership on power sector modernisation TCN commends vigilante group over arrest of suspected vandal

Emmanuel Addeh in Abuja The federal government has approved a new institutional and financing framework aimed at accelerating the electrification of healthcare facilities across the country, setting a target of providing reliable electricity to at least 30 per cent of Nigeria’s health facilities by the end of 2027. The decision was taken at the third meeting of the Inter-Ministerial Steering Committee (IMSC) of the Nigeria Power for Health Initiative (NPHI), a presidential programme jointly coordinated by the Federal Ministries of Power and Health and Social Welfare to improve electricity supply to hospitals and other healthcare

facilities nationwide. The meeting, chaired by the Minister of State for Health and Social Welfare, Dr. Isiaq Salako, and co-chaired by the Minister of Power, Mr. Joseph Tegbe, also brought together senior government officials, development partners and members of the InterAgency Technical Committee (IATC), which presented recommendations for the implementation of the initiative. Speaking at the meeting, Tegbe said the programme had reached a stage where emphasis must shift from policy announcements to the delivery of completed projects capable of improving healthcare services across the country. Describing the Nigeria Power for

Health Initiative as one of the flagship programmes of the Bola Tinubu administration, the minister stressed the need to prioritise the energisation of teaching hospitals, state hospitals and primary healthcare centres. He noted that the Rural Electrification Agency (REA) had already provided electricity to five federal teaching hospitals and several other health facilities nationwide. He stated that reliable electricity would significantly reduce hospitals’ dependence on diesel generators, improve patient care and enhance the operation of critical medical equipment, adding that the Ministry of Power would continue to prioritise funding for the initiative while ensuring value

for money. For his part, Salako disclosed that the Steering Committee approved a financing framework designed to mobilise investments for healthcare electrification and also adopted a facility energy management framework that will require participating hospitals to establish sustainable systems for managing their energy infrastructure. According to him, the committee also approved eight private sector proposals for further engagement from about 70 submissions received during the National Healthcare Electrification Investor Matchmaking Week held in Lagos. He added that Energy Management Teams had already been established in

Pipeline Security Drives Nigeria’s Energy Growth as PINL Backs New Gas Investments Blessing Ibunge in Port Harcourt

Nigeria’s drive to become Africa’s energy hub received a fresh boost yesterday, as Pipeline Infrastructure Nigeria Limited (PINL) said improved pipeline security is strengthening investor confidence, supporting major gas infrastructure projects and contributing to rising oil and gas sector performance. Speaking at the company’s August 2026 Stakeholders Engagement Forum, the General Manager, Community and Stakeholders Relations, Dr. Akpos Mezeh, said sustained collaboration among host communities, security agencies and government institutions had significantly improved the protection of the Trans Niger Pipeline (TNP), the Eastern Gas Network and other critical national assets. He said the improved security environment comes at a time Nigeria is recording major milestones in the energy sector, including the signing of the Intergovernmental Agreement for the 6,900-kilometre African Atlantic Gas Pipeline (AAGP), which will transport 30 billion cubic metres of natural gas annually from Nigeria to Morocco

through 13 West African coastal countries. According to him, the project, jointly promoted by NNPC Limited and Morocco’s Office National des Hydrocarbures et des Mines (ONHYM), underscores the need for secure energy infrastructure. “World-class energy infrastructure can only thrive where pipelines are secure, communities are peaceful and stakeholders work together,” Mezeh said. He also highlighted NNPC Limited’s June 2026 operational performance, which showed a Profit After Tax of N535 billion, representing a 16 per cent increase over the N462 billion recorded in May, while revenue rose to about N4.39 trillion. Statutory remittances to the Federation Account reached N6.286 trillion in the first half of the year. Although crude oil production dipped slightly to 1.72 million barrels per day, natural gas output climbed to about 7.84 billion standard cubic feet per day. Mezeh disclosed that Nigeria’s strategic gas projects are nearing completion, with the ObiafuObrikom-Oben (OB3) Gas Pipeline now 98 per cent completed ahead

of first gas this month, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has reached 94 percent completion. He added that NNPC recently secured more than $20 billion worth of Gas Sale and Purchase Agreements covering over two billion standard cubic feet of gas daily for both LNG exports and domestic industrial supply, including partnerships involving the Dangote Refinery. Despite the progress, he warned that attempted sabotage, vandalism and equipment failures were still recorded in some operational areas over the past month, although prompt interventions ensured repairs and arrests of suspects. Meanwhile, the Head of Field Operations, Eastern Corridor, NNPC Project Monitoring Office, Akponime Omojevwhe, commended host communities for supporting pipeline surveillance, revealing that two operational zones recorded zero incidents between January and June. He urged other communities to emulate the achievement, stressing that timely intelligence and grassroots participation remain

critical to safeguarding national assets. Chairman of the South-South Monarchs Forum, King Sergeant Awuse, praised PINL for transforming pipeline security through community engagement, saying incidents of vandalism had reduced significantly since the company assumed responsibility for protecting the assets.

federal tertiary hospitals, while state governments were being encouraged to establish similar structures as part of efforts to institutionalise the initiative through dedicated budgetary provisions and a full-time Project Coordination Unit. In his comments, the Permanent Secretary, Federal Ministry of Power, Mr. Mahmud Mamman, described uninterrupted electricity as essential to modern healthcare delivery, stressing that dependable power was critical for operating medical equipment, preserving vaccines, supporting laboratories and strengthening emergency response systems. Meanwhile, the Nigerian Independent System Operator (NISO) and the Canadian High Commission have identified several areas of collaboration aimed at modernising Nigeria’s electricity sector through technology transfer, capacity development, renewable energy integration, digital transformation and investment in critical power infrastructure. The partnership discussions took place during a visit by the Canadian High Commissioner to Nigeria, Mr. David Sproule, to the NISO headquarters in Abuja, where he was received by the Managing Director and Chief Executive Officer of NISO, Engr. Abdu Bello Mohammed, alongside members of the management team. Mohammed said the engagement represented an important step towards

strengthening bilateral cooperation in the electricity sector, noting that NISO, established under the Electricity Act 2023, was responsible for system operations, market operations, system planning and enforcement of electricity market rules and grid codes. He said the organisation was driving power sector modernisation through the deployment of Supervisory Control and Data Acquisition (SCADA) systems, Energy Management Systems, advanced electricity market trading platforms, telemetry and Advanced Metering Infrastructure. According to him, NISO is also planning national grid expansion, promoting renewable energy integration and encouraging private sector investment through public-private partnerships. Responding, Sproule congratulated NISO on its establishment and expressed Canada’s readiness to support Nigeria’s energy transition by leveraging Canadian expertise in electricity market operations, renewable energy integration, energy storage technologies, cybersecurity and digital grid management. In a related development, the Transmission Company of Nigeria (TCN) has commended the Omelu Community Vigilante for arresting a suspected vandal allegedly attempting to damage one of its transmission towers along the Benin-Onitsha 330kV transmission line.

UK High Commission Engages PDP Leadership on State of Democracy in Nigeria

Chuks Okocha in Abuja

The High Commission of the United Kingdom yesterday met with the Peoples Democratic Party (PDP), led by Kabiru Turaki, SAN, and held extensive discussions on the state of Nigeria’s democracy. The High Commission’s delegation was led by Dr. Fortune Aldred, Senior Political Adviser, and Stephen Asek, Political Adviser (Cameroon). According to a statement by the National Publicity Secretary of Turaki led PDP, the party’s

delegation comprised the National Secretary, Dr. Wonyengikuro Daniel; National Treasurer, Isa Abubakar, National Organising Secretary, Hon. Theophilus Dakas Shan; National Legal Adviser, Shafi Bara’u; Principal Private Secretary to the Chairman, Ibrahim Abdullahi, Esq.; and the National Publicity Secretary, Comrade Ini Ememobong. Ini Ememobong said that the he meeting deliberated extensively on the state of Nigeria’s democracy and the opposition’s role and relevance in the democratic process.

He said that the interactive session centred on the current asphyxiation of the opposition, the prolonged state-sponsored leadership crisis in the PDP, the candidature of President Goodluck Jonathan for the 2027 elections, and the general outlook for the 2026 elections. In his presentation, Turaki reiterated the party’s position on the “need to ensure the survival of multi-party democracy and the opposition, which remain critical pillars of a thriving democratic system.”

THISDAY • FRIDAY, AUGUST 7, 2026

NEWS

KIDNAPPED STUDENTS OF GATEWAY ICT POLYTECHNIC REGAIN FREEDOM...

L-R: Ogun State Director, Directorate of State Service (DSS), Mr. Rasheed Adelakun; Commissioner of Police, Bode Ojajuni; Ogun State Governor, Prince Dapo Abiodun; Commandant, 35 Artillery Brigade of the Nigerian Army, Alamala, Abeokuta, Brig. Gen. Friday Onu; Commander, Ogun State Security Network Agency (Amotekun), Brig. Gen. Alade Adedigba (rtd); and the state Commandant, Nigeria Security and Civil Defence Corps, Commandant Remilekun Omolade, during the press conference held to announce the release of the kidnapped students of the Gateway ICT Polytechnic, Saapade and the arrest of their abductors at the Governor’s Office, Oke-Mosan, Abeokuta, yesterday

Ahead of 2027 FATF Review, Fagbemi Tasks Agencies on Collaboration, Professionalism Says performance will shape outcome, investors’ confidence in economy NFIU: financial intelligence needs investigation, prosecution to succeed

Alex Enumah in Abuja As Nigeria begins preparations for the 2027 Financial Action Task Force (FATF) Mutual Evaluation, Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, has urged all law enforcement agencies in the country to work together to ensure the country excels in the evaluation exercise. Fagbemi gave the charge on Thursday in Abuja, at the opening of the Federal Ministry of Justice’s AML/CFT/CPF Stocktake Exercise. In her remarks, Chief Executive Officer of Nigeria Financial Intelligence Unit (NFIU), Hafsat Abubakar Bakari, said the effectiveness of Nigeria’s anti-money laundering framework ultimately depended on the people and institutions entrusted with enforcing it, rather than on legislation alone. Bakari said financial intelligence required efficient investigation and prosecution to succeed. The event, according to the AGF, was aimed at increasing strengths, correcting deficiencies, and building institutions that future generations of Nigerians will be proud to inherit. He stated, “Today is not merely another meeting on our official

calendar. It is a moment of truth—a moment to honestly ask ourselves whether our institutions are delivering justice with integrity, safeguarding our nation against financial crime, and earning the confidence of both Nigerians and the international community.” The minister told participants that Nigeria’s successful exit from the FATF Grey List was not an accident, but a product of vision, discipline, collaboration, and sacrifice. He said, “It demonstrated that when government institutions pull in one direction, even the steepest mountain becomes a pathway. “Our exit from the Grey List was not our destination; it was only a milestone. The true measure of our success is not where we have come from, but where we are determined to go.” According to the AGF, Nigeria must showcase to the international community the gains recorded in the fight against money laundering, terrorism financing, and other related financial crimes. While observing that the Federal Ministry of Justice, as an institution, stood at the intersection of law, justice, prosecution, international cooperation, and asset recovery, he stressed, “Our performance

will shape not only the outcome of this mutual evaluation but also the confidence investors place in our economy, the respect our nation commands internationally, and the future security of generations yet unborn.” Acknowledging that no single institution could win the battle alone, Fagbemi stated that success could only come through genuine collaboration, mutual trust, accountability, and a shared commitment

to national service. He stated, “I, therefore, urge every officer participating in this exercise to approach it with openness, professionalism and courage. “This is not an audit designed to expose weaknesses. It is an opportunity to strengthen strengths, correct deficiencies and build institutions that future generations of Nigerians will be proud to inherit. “Let us remember that excellence is never accidental. It is the product

The President of the Economic Community of West African States (ECOWAS) Commission, Dr. Omar Alieu Touray, has received former Sierra Leone President Ernest Bai Koroma in Abuja, in a high-level engagement that underscores the regional bloc’s continued emphasis on dialogue, institutional cooperation and the preservation of peace in West Africa. The meeting, held at the ECOWAS Commission headquarters in Abuja, brought together two prominent figures with deep experience in regional governance and diplomacy. It highlighted the importance of

maintaining strong relationships with former African leaders as ECOWAS navigates some of the most complex political and security challenges confronting the sub-region. Koroma, who served as Sierra Leone’s president from 2007 to 2018, remains an influential voice in West African affairs, having led his country through a period of democratic consolidation, post-conflict recovery and economic rebuilding. His visit to Abuja comes at a time when ECOWAS is seeking to strengthen confidence in regional institutions amid political uncertainties, security threats, democratic setbacks and growing calls for reforms within the bloc.

its enforcement, rather than on legislation alone. She credited the Ministry of Justice with providing the legal foundation for the country’s AML/CFT regime, citing its role in legislative reform, mutual legal assistance, asset recovery, and international cooperation. Bakari said financial intelligence alone was insufficient unless it translated into investigations, prosecutions, and, ultimately, public confidence in the justice system.

Nigeria, Benin Deepen Defence Cooperation to Tackle Terrorism, Cross-Border Crime

As Burundi strengthen defence ties with Nigeria to boost regional security, counter terrorism

Linus Aleke in Abuja The Minister of Defence, General Christopher Musa (Rtd.), has reaffirmed Nigeria’s commitment to strengthening defence cooperation with the Republic of Benin as part of efforts to tackle terrorism, crossborder crime and other transnational security threats. Musa said closer collaboration between both countries, including

improved intelligence sharing, coordinated operations and sustained military engagement, would enhance border security, prevent criminal elements from exploiting territorial boundaries and promote peace and stability across the sub-region. The minister stated this while addressing Nigerian troops serving in the Republic of Benin during a working visit to the country, where he highlighted the need for stronger

ECOWAS Chief Hosts Former Sierra Leone President, Ernest Bai Koroma, in Abuja as Regional Bloc Pushes Dialogue, Stability Michael Olugbode in Abuja

of deliberate preparation, disciplined execution and unwavering integrity. “History does not celebrate those who merely occupied offices. History remembers those who transformed institutions. History remembers those who left systems stronger than they met them. “Let this be our collective legacy.” Bakari said the effectiveness of Nigeria’s anti-money laundering framework rested on the people and institutions responsible for

During the engagement, discussions centred on the importance of continued collaboration, peacebuilding efforts and the collective responsibility of West African leaders to protect democratic values and regional stability. The meeting also reinforced the role of experienced statesmen in supporting mediation and conflict-resolution initiatives across Africa, particularly as ECOWAS works to address challenges ranging from unconstitutional changes of government to terrorism, violent extremism and humanitarian crises. Ernest Bai Koroma’s political journey has been closely linked with Sierra Leone’s transformation following years of civil conflict that

ended in 2002. Elected president in 2007 and re-elected in 2012, he oversaw efforts aimed at strengthening democratic institutions, attracting investment and rebuilding national infrastructure. After leaving office in 2018, Koroma remained active in continental and international discussions on governance, peace and development. His relationship with ECOWAS gained renewed attention in recent years following political tensions in Sierra Leone. In 2024, the regional organisation played a diplomatic role in facilitating his temporary relocation to Nigeria amid security and political concerns linked to an alleged coup attempt in the country.

cooperation between the two nations’ security forces. He said: “We are going to partner with the troops of the Republic of Benin to ensure that we stop all those bandits, all those criminals that are killing people in our own countries, so that we can deal with them. “One of the reasons for my visit is to come here and meet their own Minister of Defence so that we can sit down and see how we can work out our operations together, so that we can stop these people from infiltrating through our borders.” Musa also expressed appreciation to the Benin authorities for their hospitality and support, saying, “Because of the love and the commitment of His Excellency, he put us here so that we can equally see you. So, we are ever grateful to him and the entire good people of the Republic of Benin.” While addressing the Nigerian contingent, the minister commended the troops for their commitment and urged them to remain dedicated to their responsibilities. He further assured the troops that the federal government was committed to improving their welfare and providing the necessary support to enable them to perform their duties effectively. “So, I will also come and visit you when you get back so that

we can also talk in detail. A lot of good things that Mr. President is preparing for you, we are following up to ensure that you live very well. “We are providing the necessary aspects so that you can do your job. We know our job is very, very difficult, and most times people don’t appreciate what we are doing. But God knows we are doing our best, and we are securing Nigeria,” he added. In a related development, the Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, reaffirmed the Nigerian Army’s commitment to deepening strategic defence cooperation with the Republic of Burundi to strengthen regional peace, enhance military professionalism and improve Africa’s collective response to terrorism and other transnational security threats. Shaibu stated this while receiving the Ambassador of the Republic of Burundi to Nigeria, His Excellency Edouard Nduwimana, during a courtesy visit to Army Headquarters, Abuja. According to a statement by the Acting Director of Army Public Relations, Colonel Apollonia Anele, the COAS described Nigeria and Burundi as longstanding partners united by shared African values, mutual respect and a common commitment to continental peace and security.

FRIDAY, AUGUST 7, 2026 • THISDAY

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NGX Group: Dangote Refinery’s IPO will be Game Changer As plant tops US for second consecutive month as Europe’s largest jet fuel supplier

Ndubuisi Francis in Abuja and Peter Uzoho in Lagos Chairman of Nigerian Exchange Group (NGX Group), Dr. Umaru Kwairanga, has stated that the impending Initial Public Offering (IPO) of Dangote Refinery will be a game changer, given the enthusiasm it has generated among investors and the general public. The rosy development trails the news that Dangote Refinery has strengthened its position as a global supplier of premium aviation fuel after emerging as Europe’s largest jet fuel supplier for the second consecutive month, overtaking the United States and underscoring the refinery’s growing influence on international energy markets. The refinery now accounts for

one fifth of Europe’s jet fuel imports, reinforcing its position as a major force in global aviation fuel trade, market data has shown. Latest European import data compiled by global commodities intelligence firm, Kpler, show that more than 400,000 tonnes of jet fuel produced by the 700,000 barrels per day Dangote Petroleum Refinery were delivered into Europe in July, accounting for approximately 20 per cent of the continent’s total jet fuel imports during the month. Kwairanga said Dangote Refinery was already well known to Nigerians, having helped to resolve the shortage of refined petroleum products, one of the biggest problems in Nigeria, a leading crude oil producer in the world. In an interview on RFI Hausa,

Kwairanga said, “The announcement by my big brother and mentor that he will sell a stake in what is viewed as a national treasure to the public has been met with much cheer and anticipation and we are looking forward to the biggest public offer ever in Nigeria, if not Africa. “We view it as a game changer given the enthusiasm that it has raised among investors and the general populace. The company is already well known to Nigerians as it has helped to solve one of the country’s biggest problems- shortage of refined petroleum products in one of the world’s leading crude oil producers.” He explained that Nigeria was now the world’s best-performing stock market in dollar terms due to a number of factors, including the federal government’s macro-economic

reforms. The NGX Group chairman stated, “The removal of fuel subsidies, the forex market reforms and the return to conventional monetary policy freed the economy from many of the structural inefficiencies that had held back performance. “After an initial shock, the performance of most quoted companies has been very positive and attracted renewed attention from investors. “Regulators in various sectors such as banking, insurance, and even the capital market have also mandated recapitalisation and such recapitalisation drives have brought in a surge of new capital and new investors and boosted liquidity and performance. Then, there’s the increasing digitalisation of the market.”

He added, “As an exchange, we have encouraged and supported our trading licence holders to adopt other management systems that allow their clients to trade from their handsets. That combined with the licensing of several digital brokers by SEC has brought in a new and younger generation of investors. “All these varied factors: improved macro-economic environment, improved company performances, greater liquidity have combined to push the Nigerian capital market to greater heights.” On sustainability, Kwairanga remarked that the current performance was sustainable as the factors that gave rise to it were firmly in place while new ones that will push it further were around the corner. For example, he said the NGX

IN DEFT MOVE, TINUBU DIRECTS EFCC TO UNFREEZE OSUN ACCOUNT

Alhaji Aliko Dangote Group was looking forward to the reclassification of the Nigerian market as a frontier market in major indices, adding, “That should bring it back into the focus of international investors.” According to him, “The mega listing of the Dangote Refinery is imminent and that should bring several million new investors into the capital market. So, we think the performance will be sustained and Continued on page 26

ties of anti-corruption agencies because compelled to intervene,” he said. The President emphasised that no of his belief that democratic institutions must function independently within action should create the impression that agencies of the Federal Governthe limits of the law. “Since assuming office, I have con- ment were being used to influence President Bola Tinubu yesterday took sistently maintained that anti-corruption an election. the rare step of directing the Economic “Osun State is only a few days and law enforcement agencies must and Financial Crimes Commission be allowed to discharge their statutory away from its gubernatorial election. (EFCC) to immediately return to responsibilities independently, profes- Therefore, nothing ought to be done court to vacate the order freezing sionally, without fear or favour, or to give an impression that the EFCC the Osun State Government’s bank or indeed any other agency of the political interference. account, describing the timing of the “I have therefore deliberately federal government is being used to action as embarrassing. refrained from directing or interfering interfere with the election. The Nigerian leader argued that the “Based on the foregoing premise, in the operational activities of the EFCC move by the anti-corruption agency or any other investigative or prosecuto- I am duty-bound to issue a directive was capable of creating the impression rial agency because I firmly believe on this issue in consonance with that federal institutions were being that strong democratic institutions, the overriding public interest in deployed to influence the August 15 operating within the confines of the preserving public confidence and the governorship election in the state. law, are indispensable to democratic integrity, credibility, and fairness of The President also personally good governance and the rule of law,” our democratic process. telephoned Osun State Governor, “Accordingly, I have directed the Tinubu stated. He added that although he was yet EFCC to immediately proceed to FAKE AGENCY: ICPC ABSOLVES GBAJABIAMILA, SEEKS ADEYEMI’S PROSECUTION to be fully briefed on the circumstances the court to vacate the order and the appointment letter he presented Council, was never established by fication processes and inter-agency funds of the federal government that informed the commission’s deci- discontinue whatever action it has was forged. It noted that the PFIPC any law, executive order or any coordination, which enabled the were approved or disbursed to sion to obtain the order freezing the instituted against the Osun State the fake PFIPC or PEAC. We also state’s account, the political timing of Government in this regard,” Tinubu other valid instrument of govern- scheme to flourish. was a fictitious organisation. The commission also disclosed ment, and the appointment letter “Our interim report found discovered no weaknesses in the the action compelled his intervention. declared. “As President, I am committed that Adeyemi, who is currently presented by Adeniyi Adeyemi weaknesses in verification, inter- systems of the State House or the in custody, floated two additional Matthew was completely forged agency oversight and government Central Bank of Nigeria (CBN), to allowing institutions of state to Tinubu Calls Adeleke fictitious government agencies, alongside similar documents used processes. Those weaknesses were while the fake appointment function and take any action they Shortly after issuing the directive, unlawfully occupied the office of to perpetrate the illegal activities of exploited by Adeniyi Adeyemi letter did not originate from the consider necessary in the interest of the President telephoned Governor proper governance without the need Adeleke to personally inform him the defunct Presidential Economic the fake agency,” the ICPC said. Matthew with some level of Presidency,” the ICPC stressed. Aliyu disclosed that the for any prior approval. Advisory Council (PEAC), and Aliyu disclosed that the fake negligence and connivance,” he of the decision. “While I am yet to be fully apprised commission uncovered two adexploited weaknesses in govern- organisation also relied on a forged explained. The development was disclosed He, however, clarified that ditional fictitious agencies allegedly of the facts which informed the action by the President’s Special Adviser on ment verification processes with the gazette and other fabricated legal of EFCC in approaching the court Information and Strategy, Mr. Bayo alleged connivance and negligence instruments to create the impression investigators found no evidence established by Adeyemi, namely that it was a legitimate government that any federal government funds the FCT Investment Promotion to obtain the said order freezing the Onanuga, in a post on his verified of some public officials. were approved or disbursed to Agency and the Foreign Investment Osun State Government account, I X handle. ICPC Chairman, Dr. Musa Aliyu agency. Promotion Agency and Public am not in the slightest doubt that According to Onanuga: “President He further revealed that in- the fake organisation. (SAN) disclosed the findings while the timing of the action of EFCC “Our investigation found that no briefing journalists after submitting vestigators found that Adeyemi Continued on page 29 is inauspicious, and therefore I feel Continued on page 28 the commission’s interim investiga- unlawfully took over the offices tion report to President Bola Tinubu previously occupied by the Presiat the State House, Abuja. dential Economic Advisory Council AFDB: NIGERIA’S REVENUE BASE WEAK AMID $2.3TN INFRASTRUCTURE DEVELOPMENT NEED Tinubu had on July 7 directed after breaking into the premises. the continental lender argued that extends beyond the availability of towards investments capable of federal government revenue in the anti-graft agency to investigate “If you recall, there was a gazette although the country has embarked financing to structural weaknesses significantly improving productive 2025, significantly limiting fiscal allegations by Adeyemi that he paid which was forged as an instrument on significant fiscal and structural that continue to limit economic capacity or accelerating structural space for capital expenditure and N400 million to the President’s Chief used to support the fake agency. reforms, limited revenue mobilisa- productivity. transformation. investments in critical sectors. of Staff, Gbajabiamila, to secure his That gazette is illegal and never tion and poor productivity continue The report maintained that the It observed that Nigeria’s The AfDB nevertheless acknowlappointment as director general of passed through the processes to undermine the government’s economy remains characterised effectiveness of public borrowing edged improvements in domestic the PFIPC. The commission was provided by law. The PFIPC also capacity to finance development by low agricultural productivity, should not be measured merely by revenue mobilisation, noting that given 30 days to investigate the cannibalised the former Presidential priorities and sustain long-term weak manufacturing competitive- the size of infrastructure spending or government revenue increased from matter and submit its findings. Economic Advisory Council and economic growth. ness, inadequate transport and debt accumulation, but by its ability 10.8 per cent of GDP in 2024 to Aliyu said investigations illegally appropriated its offices and The report noted that Nigeria energy infrastructure, insecurity, to generate higher productivity, an estimated 13.5 per cent in 2025 established that Adeyemi was operational instruments. requires approximately $2.3 tril- skills shortages and a labour force stronger private sector invest- following tax reforms and stronger never appointed by the federal “What we discovered was that lion in infrastructure investment concentrated in low-productivity ment, job creation and sustainable revenue administration. government and that the PFIPC the office used by the fake agency by 2043 to raise its infrastructure activities. These factors, the report economic growth. Despite the progress, the bank was never created by any law, was the office of PEAC. The lock stock to about 70 per cent of Gross said, continue to constrain economic Although Nigeria’s debt-to-GDP stressed that the ratio remains low executive order or other valid was broken and that was how he Domestic Product (GDP), a level output and reduce the returns on ratio moderated to about 50.2 relative to peer economies and instrument of government. gained access to the office,” the considered necessary to support both public and private investment. per cent in 2025 following GDP insufficient to finance Nigeria’s “We have discovered and it anti-graft agency alleged. The bank noted that Nigeria’s rebasing and improved revenue ambitious development agenda sustained economic transformation. has been established that Adeniyi According to the ICPC chairman, However, the bank stressed that debt burden compares favourably performance, the AfDB cautioned without greater reliance on private Adeyemi Matthew was never ap- the suspect subsequently used the mobilising such financing would with many African economies, yet that the country’s fiscal position capital and innovative financing pointed by the federal government office to engage in widespread require a much stronger domestic the country’s productivity indicators remains constrained because govern- mechanisms. or any authority of government. impersonation, false representation revenue base, deeper financial remain weak. According to the ment revenues are still relatively To overcome these challenges, “The Presidential Foreign Invest- and other illegal activities. markets and more efficient use report, Total Factor Productivity low compared to financing needs. the report urged Nigeria to reduce Aliyu said the investigation of both public and private capital. (TFP) is estimated at only about 0.3, ment Promotion Council, which The report added that inter- tax exemptions, formalising the sometimes they call the Presidential equally exposed significant According to the AfDB, the suggesting that public borrowing est payments accounted for Foreign Intervention Promotion weaknesses in government veri- country’s development challenge has not been sufficiently directed an estimated 47.3 per cent of Continued on page 26 Deji Elumoye, Chuks Okocha, Alex Enumah and Sunday Aborisade in Abuja

Senator Ademola Adeleke, to inform him of the directive, in what observers described as an unusual intervention in the operational activities of an anti-graft agency that the presidency has consistently maintained enjoys institutional independence. Besides, Adeleke’s party, Accord, has alleged that the freezing of the Osun State Government’s accounts formed part of a broader plot to influence the outcome of the August 15 governorship election. However, former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, said President Tinubu’s directive to the EFCC had irretrievably damaged the long-standing claim that the anti-graft agency operates

independently of the Presidency. In the same vein, Adeleke has dragged the EFCC before the Federal High Court in Abuja, seeking N2 billion in exemplary and aggravated damages over what he described as the unlawful freezing of the Osun State Government’s Federal Statutory Allocation Account. But Tinubu, in a seven-paragraph statement, stressed that although he remained committed to allowing anti-corruption agencies discharge their statutory responsibilities without interference, he considered the timing of the EFCC’s action against an opposition-controlled state just days before a governorship election as inappropriate and capable of undermining public confidence in

the electoral process. “It has come to my notice that the Economic and Financial Crimes Commission (EFCC) obtained a court order on August 5, 2026, freezing the accounts of the Osun State Government. I must state that I feel deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order, but by the timing of the agency’s action. “This is so because every action taken by an institution of state, especially at the federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action,” he said. The President reiterated that since assuming office, he had deliberately refrained from interfering in the activi-

THISDAY • FRIDAY, AUGUST 7, 2026

NEWS

MAKINDE INAUGURATES, ROAD, FIRE SERVICE AND CAR PARK WITH SHOPS INSIDE BODIJA MARKET...

Oyo State Governor and Allied People’s Movement Presidential Candidate, Seyi Makinde (middle); his deputy, Barr Bayo Lawal (left); Chairman, Ibadan North Local Government, Hon. Oluwaseun Olufade (right); Babaloja General of Oyo State, Alhaji Yekini Abass (second right) and Babaloja, Bodija International Market, Alhaji Ismail Aderemi Jimoh, during the inauguration of Bodija Market road, Fire Service Station and Ultra-Modern Car Park with Shops at Bodija International Market, Ibadan PHOTO: OYO GOV’S MEDIA UNIT.

Tinubu Lauds Economic Team, Nigerian Exchange Group for Nation’s Stable Economy and Stock Market Surge

Market rebounds skyrockets from N30trn in 2023 to N160trn today, projected to peak at N230trn by year end President pledges to reform and list NNPCL in the capital market

Deji Elumoye in Abuja President Bola Tinubu has declared that growing positive reviews of the economy by experts and favourable economic indicators signal a brighter future for all Nigerians. The President, who spoke yesterday while receiving the Board and Manage-

ment of the Nigerian Exchange Group at the State House, Abuja, said all the reforms satisfied global best practices and helped stimulate the economy, setting the foundation for long-term sustainable growth. The Nigerian Exchange Group, led by the Chairman, Dr Umaru Kwairanga, and the Group Managing Director/

Chief Executive Officer, Temi Popoola, briefed the President on the rebound of the market from N30 trillion in 2023 to N160 trillion today. Tinubu hailed the Economic Management Team, made up of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; his Budget and National Planning counterpart, Atiku

Bagudu; the Central Bank Governor, Yemi Cardoso, and Chairman/CEO of the National Revenue Service, Dr Zacch Adedeji, for their foresight, dedication and diligence. He said: “I can see the excitement in the room. All I can do is to celebrate you all today. It is a thing of joy to have this feedback. When we took over, it

was very challenging. I had to talk to myself and define my background to accept the assets and liabilities of my predecessor. “I asked for the job, and I have to do it. And my capable partner in one of the thinking and reasoning days was Yemi Cardoso, whom I put at CBN. “I found a partner in the CBN

Nigeria Rejoins World Energy Council, Gets New Governing Board Abdulrazaq Isa is new chair, Wunti emerges CEO

Emmanuel Addeh in Abuja Nigeria has formally rejoined the World Energy Council (WEC), re-establishing its place in the global network of energy leaders with the inauguration of a new National Member Committee and Governing Board expected to strengthen the country’s engagement in international energy policy, investment and sustainability discussions. The renewed membership is expected to provide Nigeria with an independent, technology-neutral platform that brings together stakeholders from government, industry, finance, academia and civil society to address the country’s energy challenges, particularly the need to balance energy security, energy equity and environmental sustainability.

As part of the reconstitution, the Council announced the appointment of the Co-founder and Chairman of Waltersmith Petroman Oil Limited, Mr. Abdulrazaq Isa, as Chairman of the Governing Board, while former Chief Upstream Investment Officer of NNPC Limited, Mr. Bala Wunti, will serve as the inaugural Chief Executive Officer of the Nigerian chapter. Other members of the Governing Board, according to the organisation, are Prof. Wumi Iledare, Dr. Mustapha Abdullahi, Mrs. Aisha Farida Katagum, Dr. Ainojie “Alex” Irune, Dr. Emmanuel Okon, Dr. Victor Ekpenyong and Dr. Imamuddeen Talba. According to the Council, the composition of the board reflects a broad cross section of Nigeria’s energy industry, bringing together

expertise in policy, regulation, upstream and downstream operations, investment, technology, research and enterprise development. Welcoming Nigeria back into the global organisation, the Secretary General and Chief Executive Officer of the World Energy Council, Dr. Angela Wilkinson, described the country’s return as significant both for Africa and the global energy community. “Nigeria has a significant leadership role, and the Member Committee will help bring that expertise and voice onto the world stage at the Riyadh World Energy Congress in April 2027 and beyond,” she said. The Council noted that Nigeria’s return comes at a critical period as the country seeks to expand access to electricity, strengthen energy security,

Shettima Begins Two-Week Leave Pledges renewed commitment to national service

Deji Elumoye in Abuja

Vice President Kashim Shettima on Thursday commenced a two-week leave - his first since assuming office over three years ago. According to a statement issued by the media aide to the Vice President, Stanley Nkwocha, during the leave, the Vice President will devote time to study, reflect and do intellectual renewal as part of efforts to strengthen his capacity for continued service to the nation.

The leave offers Shettima an opportunity to review the administration’s ongoing programmes, deepen his understanding of emerging national and global policy issues, and prepare for the responsibilities ahead as the federal government intensifies the implementation of the Renewed Hope Agenda. Since assuming office on May 29, 2023, the Vice President, the release stated, has remained actively engaged in the coordination and supervision of several strategic

government initiatives, particularly in economic development, food security, humanitarian affairs, digital transformation, job creation and regional cooperation. He has consistently chaired the monthly National Economic Council (NEC) meeting, which brings together the governors of the 36 states, the Governor of the Central Bank of Nigeria and other relevant public officials to deliberate on policies affecting the economy and the welfare of Nigerians.

accelerate natural gas development and mobilise the investment required to support industrialisation and long-term economic growth. It explained that the Nigerian chapter would utilise the World Energy Council’s globally recognised Energy Trilemma framework to support evidence-based policy discussions, encourage collaboration across the energy value chain and ensure that Nigerian as well as wider African perspectives are better represented in global energy debates. Commenting on the development, Isa said Nigeria’s return to the Council represented more

than a restoration of membership, describing it as an opportunity to strengthen both national and continental leadership on global energy issues. “Nigeria’s return marks more than renewed participation; it creates a platform for stronger national and African leadership within the global energy community. We will work across sectors to advance solutions grounded in our realities, responsive to our development priorities and capable of attracting sustainable investment,” he stated. Also speaking, Wunti said the organisation would focus on connecting policy, investment and practical implementation to support the country’s evolving energy needs.

Governor, Yemi Cardoso. We were in the negative with monetary policy and the reserve. We had N30 trillion printed, and there were liabilities. I thank you very much, Yemi Cardoso. “The rest of the team, we owe a duty to the country and our self-belief that this is doable. Nigeria can build a nation of prosperity by itself. If the stock market is doing well, then we are doing well. “We can teach this in classrooms to our undergraduates. If they can be in the classroom without the harrowing feeling of how to pay and what to pay, then we can build a nation of success and prosperity “Thank you to the Chairman of the NRS and all the people in the economic team for what we are doing. My assurance to you is that I won’t stop reading, thinking and supporting you.” The President said the private sector has a big role to play in the economy in creating jobs and supporting the government. His words: “If we can push the private sector to invest in the economy wisely, then we will grow. It is one reason why I backed Aliko Dangote even before I became a President. God bless the soul of Muhammadu Buhari. We discussed how we can support the private sector to go into the refinery business.

CSOs Hail Tinubu’s Security Reforms, Urge Stronger Support for Military Linus Aleke in Abuja A coalition of civil society organisations has commended President Bola Tinubu, the nation’s military and security agencies for reforms aimed at strengthening Nigeria’s security architecture, urging Nigerians to support ongoing efforts to combat insecurity and safeguard the country’s democracy. The group said the expansion of the military and improved welfare for personnel had reinforced the capacity of the armed forces and other security agencies to protect the nation’s sovereignty, stressing that security should not be politicised. The coalition also applauded the

commitment of members of the armed forces and other security agencies, describing them as steadfast defenders of Nigeria’s democracy and territorial integrity. It called on citizens to unite behind security institutions, noting that lasting peace and stability could only be achieved through collective national support and cooperation. According to a statement by the Coalition Director of Programme, Johnson Micheal, the group said: “We stand here today with one voice and one purpose, because Nigeria belongs to all of us, and no single individual has the right to hold our peace to ransom or undermine our sovereignty in the name of activism.”

It added: “We commend Mr. President and the Chief of Army Staff for expanding our military and improving the welfare of our men and women in uniform. “These are not small achievements, but the foundation of the safety we all seek. Our gallant military and security agencies have been firm pillars of our democracy and sovereignty. Every soldier who stands at the border and every officer who patrols our streets deserves our respect, not our suspicion.” The coalition further said President Tinubu was working tirelessly to tackle insecurity, urging Nigerians to refrain from politicising security challenges.

FRIDAY, AUGUST 7, 2026 • THISDAY

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FCMB HEALTHCARE SUMMIT...

L-R: Head, Healthcare Desk, First City Monument Bank, Mrs. Chidinma Chigbo-Anachebe; Divisional Head, Business Banking Group, First City Monument Bank, Mr. George Ogbonnaya; Executive Director, Corporate Services and Service Management, First City Monument Bank, Ms. Felicia Obozuwa; Honourable Minister of state for Health and Social Welfare, Dr. Iziaq Salako and President, Healthcare Federation of Nigeria, Njide Ndili at the inaugural FCMB Healthcare Summit in Lagos...recently

Nigeria to Reap Additional $2.5bn Annually in Corporate Tax from Multinationals Under UN ‘Pay-Where-You-Play’ Plan

Countries to gain $500bn more tax a year Again, Trump may veto move

Ndubuisi Francis in Abuja

Nigeria may harvest an additional $2.5 billion annually in corporate tax from multinationals as the United Nations (UN) tax convention plans to scrap and replace a century-old approach which is expected to unleash new economic era without increasing taxes. This was contained in a new report by Tax Justice Network that countries, including Nigeria, could capture an extra $500 billion a year without raising corporate tax rates following the UN’s move to dump the 100-year-old approach of “Pay-whereyou-say” set up by the defunct League of Nations, requiring governments to tax multinational corporations’ profits based on where they declare them. Under the century-old approach, multinational corporations have been robbing countries of billions in corporate tax every year. India and Nigeria (Nigeria Tax Act 2025) have legislations to ensure that companies profiting from their economies should not escape the tax net just because they operate across borders. The report noted that the UN tax convention’s commitment would replace this with a “pay-where-you-play”

approach which taxes multinational corporations’ profits based on where they genuinely do business –where they employ their workers, and make and sell their goods and services. This makes shifting profits into tax havens useless, since multinational corporations tend to employ little to no workers in tax havens, and almost all their goods and services are made and sold elsewhere. The proposed approach is expected to be a major feature at the ongoing session of the United Nations Framework Convention on International Tax Cooperation, which runs between August 3 and 13 at the UN Headquarters in New York, United States. The report established that countries altogether, including Nigeria would collect 24 per cent more corporate tax from multinational corporations without increasing their tax rates by modernising from “pay-where-yousay” to “pay-where-you-play”. The new approach is to tax multinational profits where real economic activity happens – known as unitary taxation. No new profit is created, and revenue simply shifts from tax havens where profits are “booked” to the countries where workers produce

and customers spend. The change would mean multinational corporations would have to abide by the tax laws of countries they do business in for the first time in decades, and so the amount of tax countries collect from multinational corporations would effectively fastforward several decades to catch up with and accurately reflect the higher levels of profits modern multinational

corporations make today. The biggest sums will be made in higher-income countries while the biggest impacts would be felt in lower-income countries, where the smaller sums would increase the amount of corporate tax the countries collect annually from multinational corporations several times over. High-income countries would increase the corporate tax they collect

from multinationals a year by 21 per cent, bringing in at least US$140 billion more in tax a year; upper-middle income countries would increase by 31 per cent, bringing in at least US$112 billion more. Lower-middle income countries like Nigeria would triple the amount they collect, bringing in at least $61 billion more; low income countries would quintuple the amount they

Globacom Tops Nigeria’s Internet Subscriber Growth Chart Emma Okonji

Globacom, Nigeria’s foremost indigenous telecommunications company, emerged as the country’s fastest-growing Internet Service Provider (ISP) in the month of May, recording the highest net addition of internet subscribers among the nation’s major mobile network operators. The remarkable performance underscores the growing impact of the company’s sustained investment in network modernisation and infrastructure expansion. Latest industry statistics released by the Nigerian Communications

Commission (NCC) revealed that Nigeria’s internet subscriber base rose from approximately 154.3 million in April to about 157 million in May 2026, representing a net increase of 2.67 million subscribers within the month. Of this impressive national growth, Globacom contributed nearly half, expanding its internet subscriber base from approximately 15.5 million in April to 16.8 million in May, an increase of about 1.3 million subscribers. The achievement further reinforces the company’s renewed competitive momentum within Nigeria’s dynamic telecommunications landscape.

Airtel Nigeria posted the secondhighest growth, adding approximately 1.07 million internet subscribers to close the month at 55.8 million, up from 54.8 million in April. MTN Nigeria recorded an increase of 382,894 subscribers, raising its total Internet subscriber base from about 83.1 million to 83.5 million. T2, formerly 9mobile, registered no subscriber growth for the second consecutive month, maintaining an internet subscriber base of 802,534. For industry observers, Globacom’s exceptional performance represents more than an impressive statistical milestone. It reflects the tangible

DG NCAA Demands Restoration of Agency’s Original 65 Per cent of 5 Per cent Ticket Sales, Cargo Charges Kasim Sumaina in Abuja

The Nigeria Civil Aviation Authority (NCAA) has demanded the restoration of its original 65 percent share of the 5 percent ticket sales charge (TSC) and cargo sales charge (CSC). The Director-General, Civil Aviation, Capt. Chris Ona Najomo, made the call during the Public Hearing of the House of Representatives Aviation Committee’s proposed review of the allocation of the 5% ticket sales charge (TSC) and cargo sales charge (CSC), which was held on Thursday in Abuja. The DGCA averred that the

Authority believes that every aviation agency should be adequately funded to effectively discharge its statutory responsibilities. Thus, “if additional financial support is required for NAMA, the Authority submits that such support should first be pursued through the optimisation of its extensive statutory commercial revenue streams, improved operational efficiency and corporate governance, and where necessary, targeted Government support for strategic capital infrastructure, consistent with ICAO policy and international best practice.” “It is on this note that the NCAA respectfully requests that this

collect, raking in at least $3.6 billion more a year. To further put the scale of tax revenue into perspective, countries that received grants from the US under the Marshall Plan to help rebuild post-war Europe, including the United Kingdom would collect the inflation-adjusted equivalent of what they received at the time every two years.

honourable committee champion the return to the original vision that drove the establishment of the NCAA and NAMA in 1999. We submit that NCAA’s allocation of the 5% TSC be restored to 65% to overcome the deficiencies identified by ICAO at its last audit, and bring Nigeria in line with global best funding practices,” the DGCA called. The Authority further submits that any review of Nigeria’s aviation funding framework should also take cognisance of the fact that the NCAA remains heavily dependent on the Ticket Sales Charge for the discharge of its statutory responsibilities, whereas

NAMA already derives the greater proportion of its income from commercial charges levied on aircraft operators for the services it provides. Capt. Najomo explained further that in addition to Federal Government funding, NAMA gets funding for its infrastructure through BASA funds, which, by the way, NCAA does not benefit from. According to him, “NAMA also possesses no less than sixteen (16) commercial revenue streams established by law. These include; over-flight and en-route international charges, domestic enroute charges, charges on Class B message charges, terminal naviga-

tion charges, sales of aeronautical information, 6. airspace violation fines, rentage of property, plant and equipment, “Calibration fees, obstacle evaluation fees, telecommunications services, provision of air traffic services at private and state aerodromes, hajj or pilgrimage operations, cartographic survey and cartographic charges, aerial operations charges, consultancy services, as well as the sales, rents or leases of landed properties. These are precisely the types of commercial revenue mechanisms that ICAO envisages for Air Navigation Service Providers,” he noted.

dividends of a carefully orchestrated technological renaissance that has steadily transformed the company’s network architecture. The result is a stronger competitive position in a market where service quality, network resilience and customer experience increasingly define consumer choice. Industry sources attribute the significant growth largely to Globacom’s comprehensive nationwide infrastructure renewal and expansion programme, which commenced last year and continues at an accelerated pace. The ambitious project encompasses the deployment of thousands of new base stations to extend coverage into previously underserved locations, while simultaneously densifying existing networks in rapidly expanding urban and semi-urban communities to deliver superior voice and data services. Complementing this initiative is an extensive expansion of the company’s fibre-optic backbone, alongside the strategic relocation of critical network infrastructure affected by ongoing road construction projects across the country. In addition, Globacom has, within the year, deployed thousands of new 4G LTE sites across major cities and strategic locations nationwide, substantially strengthening network capacity, enhancing connectivity and extending high-speed broadband access to both urban and rural communities. Collectively, these investments represent more than an expansion of physical infrastructure; they embody a deliberate re-engineering of digital possibility.

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FRIDAY, AUGUST 7, 2026 • THISDAY

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JP BATTERY WEST AFRICA DISTRIBUTORS’ MEETING...

L-R: Dr. Chris Brown Umeh, Sole Distributor for West Africa, JP Battery/Pinaco; Kwasi Bona Otuo-Srebour, Director of Vehicle Inspection and Registration at the Driver and Vehicle Licensing Authority (DVLA); a business representative; Onye Ndu Raymond Chukwuma Okadigbo (Ezebinugwu); and Merlyn Gaskin, Director of Research, Statistics and Information Management at Ghana’s Ministry of Transport, during the JP Battery West Africa Distributors’ Meeting held in Accra, Ghana…recently

Gbajabiamila Leads Zulum, Soludo, Others to Nigeria-Canada Investment Mission Michael Olugbode in Abuja President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, is expected to lead a high-powered federal government delegation to the maiden Nigeria Diaspora Investment Economic Conference (NIDEC) in Toronto, Canada, a government statement said yesterday. The delegation includes Governors Babagana Zulum (Borno); Charles Soludo (Anambra); Uba Sani (Kaduna); Caleb Mutfwang (Plateau) and Dauda

Lawal (Zamfara). Others are: Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole and Minister of Interior, Olubunmi Tunji-Ojo. The delegation also features representatives of the Central Bank of Nigeria (CBN), Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS), Nigeria Revenue Service (NRS), the Nigeria Investment Promotion Commission (NIPC),

Nigeria Export Promotion Council (NEPC) and the National Information Technology Development Agency (NITDA), reflecting the government’s whole-of-government approach to attracting foreign direct investment and facilitating cross-border business. According to the government, the move is a fresh push to attract diaspora capital, deepen trade ties and position Nigeria as a preferred investment destination, signalling the administration’s determination to leverage the economic influence

of millions of Nigerians living abroad to drive investment, job creation and economic growth at home. The nomination was announced in a statement issued in Abuja by the Head of Media, Public Relations and Protocols of the Nigerians in Diaspora Commission (NiDCOM), Abdur-Rahman Balogun. According to the statement, the conference, themed “Invest Nigeria, Thrive Abroad,” will be held in Toronto, Canada, from August 12 to 15, 2026, bringing together senior

Tax the Profit, Not Movement of Money, Digital Assets Coalition Tells FG Emma Okonji

Digital Assets Coalition (DAC), the industry alliance representing digital-asset participants and operators in Nigeria, has faulted the new guidelines on the taxation of virtual assets, released on Monday August 3, 2026 by the Nigeria Revenue Service (NRS). The coalition said the new guidelines, if implemented, would put Nigeria’s $92 billion virtual asset market, built by young Nigerians at risk, adding that the market is currently the largest in sub-Saharan Africa. The coalition therefore called on NRS to tax the profit on digital asset transactions and not the movement of digital money from one location to another. Speaking at a press conference in Lagos yesterday, Spokesperson of the Digital Assets Coalition, Mr. Obinna Iwuno, clarified that the coalition welcomed the regulation of virtual assets by the federal government, but also explained that the coalition has objected to the charges on the gross movement of money rather than on any profit earned. “We support the taxation of virtual assets without qualification. Our concern is with a design choice that taxes the movement of money itself,” Iwuno said. The coalition, which strongly faulted some parts of the guidelines, raised some concerns about it. The first concern raised by the coalition

is on the one per cent withholding tax deducted from the entire value of every sale, even where the seller made a loss, and asked the NRS to recalibrate it in such a way that only the profits should be taxed and not the entire movement of money transacted. Secondly the coalition said the 1.5 per cent stamp duty tax on virtual assets should be removed and charged the same way that stamp duties are charged on physical cash. The third concern raised is the requirement to remit taxes in tokens, which according to the coalition, is inconsistent with the Nigeria Tax Administration Act, 2025, whose Section 39 mandates tax remittances in Nigerian currency and not in virtual money. According to the coalition, the choice to tax the movement of money itself rather than the profit, falls on a remittance to a student abroad, on a freelancer converting earnings already taxed as income, and on a trader who will lose money through the process. “That is not a tax on profit. It is a toll on participation,” the coalition said. It further explained that the burden would fall hardest on the young Nigerians who built the market as working infrastructure for global earnings, family remittances, and savings that survive naira volatility. Because young users transact small and often, the levies compound fastest against their pattern of use. They bite even below the N10 million threshold the

Nigeria Tax Act itself exempts and within the N800,000 income band taxed at zero, while filing burdens can exceed a student’s entire earnings. The framework is anti-youth in effect, even if not in intent. You cannot tax your way into the future by taxing the people building it, Iwuno said. According to him, every comparable country has reversed course.

He cited the Esya Centre report, which highlighted that India’s one per cent transaction withholding saw regulated exchanges lose 81 per cent of volume within four months, with over 90 per cent of trading moving offshore within a year, while Kenya repealed its three per cent transaction tax in 2025, and Turkey withdrew a similar levy in 2026.

government officials, global investors, business leaders, financial institutions and members of the Nigerian diaspora. On the Canadian side, senior political and economic leaders expected at the conference include President of the Treasury Board of Canada, Hon. Shafqat Ali; Ontario Minister of Citizenship and Multiculturalism, Hon. Graham McGregor; Ontario lawmaker Hon. Deepak Anand; Mayor of Brampton Patrick Brown; Councillor Rod Power; and Ontario Minister of Women and Economic Opportunities, Hon. Charmaine Williams. Quoting NiDCOM Chairman/Chief Executive Officer, Abike Dabiri-Erewa, Balogun said the calibre of officials attending the conference demonstrates Tinubu’s commitment to strengthening economic cooperation between Nigeria and Canada through trade, investment and diaspora engagement. She described the event as more than a conference, saying it is designed as an outcome-driven investment platform that will connect international investors with “investment-ready” opportunities across strategic sectors of the Nigerian economy while reinforcing bilateral economic relations between both countries.

Organised by NiDCOM in collaboration with the Nigerian High Commission in Ottawa, the Canadian High Commission in Abuja and other national and international stakeholders, the conference will focus on high-impact sectors including agriculture, technology, manufacturing, infrastructure, energy, healthcare and the digital economy. The Tinubu administration, the statement said, has increasingly placed diaspora engagement at the centre of its economic agenda, recognising Nigerians abroad as a major source of investment, innovation, skills transfer and remittances. According to the World Bank, Nigeria has consistently ranked among Africa’s largest recipients of diaspora remittances, with inflows running into billions of dollars annually, making the diaspora one of the country’s most important sources of foreign exchange. By convening the inaugural NIDEC, the federal government said it hopes to convert those financial flows into long-term investments capable of accelerating industrialisation, creating jobs and boosting sustainable economic development.

FG Seeks Global Capital to Drive Mineral Beneficiation, Backs Investors Expo

Folalumi Alaran in Abuja

The federal government has intensified efforts to attract foreign investment into Nigeria’s solid minerals sector, reaffirming its commitment to ending the country’s dependence on raw mineral exports in favour of value addition and industrial development. Minister of Solid Minerals Development, Mr. Henry Dele Alake, made the commitment yesterday in Abuja while launching the maiden edition of the Nigeria NOW! Global Investors Expo 2026, where he also accepted to serve as patron of the inaugural investment forum. Represented by the DirectorGeneral of the Mining Cadastre Office, Engr. Obadiah Simon Nkom, the minister said the expo aligns with the federal government’s strategy of positioning Nigeria as

a globally competitive investment destination and assured investors that the ministry would provide full institutional support to ensure the event delivers concrete investment outcomes. “Our support will not end with today’s launch. The Ministry will continue to interface with EnergyNet Limited and relevant institutions throughout the preparatory period to ensure that the event is properly coordinated and capable of delivering tangible outcomes beyond speeches and ceremonial participation,” Alake said. He stressed that Nigeria’s mining reforms are now focused on attracting patient capital, modern technology and responsible investors willing to establish processing, manufacturing and other value-addition projects rather than merely extracting and exporting

raw minerals. According to the minister, investors must also demonstrate commitment to complying with Nigerian laws, protecting host communities, safeguarding the environment and operating transparently. Alake noted that the participation of the Ministries of Industry, Trade and Investment; Power; Petroleum Resources; and Solid Minerals Development reflects the broad investment opportunities available across the country’s mining, energy and infrastructure sectors. He added that state governments would also use the platform to showcase bankable projects, infrastructure priorities and investment partnerships to local and international investors. Speaking on behalf of EnergyNet, the company’s Portfolio

Manager and Head of Corporate Development, Abdoulaye Sylla, said the Nigeria NOW! Global Investors Expo was conceived as a project-driven investment platform designed to connect government institutions and project developers directly with global investors. He said the initiative followed extensive market assessments indicating that Nigeria is increasingly well-positioned to attract higher levels of foreign direct investment, adding that discussions would also focus on strategic infrastructure projects and multilateral initiatives, including Mission 300. Sylla disclosed that between 500 and 600 delegates from across the world are expected at the inaugural edition of the expo scheduled for November 19 and 20, 2026, at the Bola Ahmed Tinubu International Conference Centre, Abuja.

FRIDAY, AUGUST 7, 2026 • T H I S D AY

FIRDAY, AUGUST 7, 2026 • T H I S D AY

PRESIDENTIAL WORKING GROUP

ON THE NATIONAL POLICING BILL

PUBLIC CALL FOR MEMORANDA AND POSITION PAPERS Background The Presidential Working Group on the National Policing Bill has been convened to translate the constitutional amendment establishing a dual police structure, comprising the Federal Police Service and State Police Services, into a final, implementation-ready draft National Policing Bill for handover to the Federal Ministry of Justice. This Call for Memoranda and Position Papers is issued to: • •

Solicit informed, evidence-based input on the policy choices underlying the draft National Policing Bill Solicit institutional, operational, fiscal and constitutional considerations that may not be fully captured in the Policy Outline;

All submissions must be made through the official portal at nationalpolicingbill.com, in PDF format and OSCOLA referencing style as set out below, on or before 13 August 2026 at 5:00 p.m. (WAT). Submissions received after the deadline may not be considered. Submissions made by any channel other than the official portal will not be accepted. Memoranda and position papers should: • Not exceed ten (10) pages, excluding annexes, and be submitted in English, • Be submitted as a single PDF document, with any supporting annexes clearly labelled, paginated and merged into the same file; • Use OSCOLA (Oxford University Standard for Citation of Legal Authorities) referencing throughout, including for citations to legislation, case law, official reports and secondary sources; • State the submitting institution or individual, designation, and contact details; • Disclose any institutional or professional interest relevant to the subject matter of the submission. • Submissions are encouraged on any of the themes as outlined on the official portal, nationalpolicingbill.com. • Respondents need not address every theme; focused, well-substantiated submissions on one or two themes are. preferred to broad but general commentary.

Memoranda and position papers are invited from: • State Governments, State Houses of Assembly and State Ministries of Justice; • The Nigeria Police Force, Police Service Commission and other federal security and justice institutions; • The Nigeria Bar Association and other professional legal and judicial bodies; • Civil society organisations, human-rights bodies and academic and research institutions working on policing, security sector governance or constitutional law; • Private-sector bodies with an interest in data protection, firearms regulation, private security regulation, or public finance; Enquiries • Individual subject-matter experts and members of the Further information on this Call, including guidance on the public with relevant technical or professional expertise. submission portal and referencing requirements, is available at nationalpolicingbill.com Submission Guidelines and Deadline

Signed:

Nnadubem Moghalu

Senior Special Assistant to the President (Planning and Research) Secretary, Presidential Working Group on the National Policing Bill

T H I S D AY • FRIday AUGUST 7, 2026

Politics

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

As Leadership Crisis Rocks Ondo Assembly...

Fidelis David reports that a deepening crisis in the Ondo State House of Assembly has exposed cracks within the state’s political establishment, with far-reaching implications for governance, legislative independence and the ruling All Progressives Congress as the 2027 elections draw closer.

or a state that only recently celebrated a relatively peaceful governorship election, Ondo has suddenly found itself confronting a different political battle, one being fought not on campaign grounds but within the hallowed chambers of the State House of Assembly. What began last week as allegations surrounding the handling of an alleged N44 million released by the Ondo State Oil Producing Areas Development Commission (OSOPADEC) has snowballed into perhaps the gravest leadership crisis to confront the 10th Assembly since its inauguration. At the centre of the storm is the Speaker of the House, Hon Olamide Oladiji, who has come under intense scrutiny over allegations of financial impropriety, lack of transparency and poor leadership. More specifically, some lawmakers accused him of failing to carry members along in the disbursement of the funds, a development that has fuelled growing discontent within the legislature. The crisis, according to sources within the Assembly, is not limited to the office of the Speaker. It is also believed to have implications for the Deputy Speaker, Hon Ololade Gbegudu, while the Clerk of the House, Benjamin Jaiyeola, may equally be affected through a possible redeployment as part of efforts to restore stability. One of the sources claimed that the Speaker had contemplated resigning last Monday ahead of a possible discussion of the matter during Tuesday’s plenary but was prevailed upon to shelve the decision. “The Speaker contemplated resigning but did not go ahead with it. The issue is connected to an alleged N44 million involving funds released by OSOPADEC to the Assembly. The money was meant for the entire House, but there are allegations that the Speaker did not carry other lawmakers along in handling the funds,” the source alleged. Another source attributed the Speaker’s decision to remain in office to the intervention of a prominent political figure in the state. “The Speaker wanted to resign today but did not eventually do so because of political intervention. We will see what happens tomorrow,” the source added. However, Oladiji has dismissed the allegations in their entirety. In a statement, he described reports of an impending resignation, leadership crisis and alleged mismanagement of OSOPADEC funds as “sensationalised, malicious and entirely fabricated.” “We state unequivocally, without an atom of ambiguity, that Rt. Hon. Olamide Oladiji never contemplated resigning, nor is there any leadership crisis within the 10th Ondo State House of Assembly. The report is a total figment of the imagination of its authors and their nameless sources,” the statement read. The Speaker further maintained that lawmakers independently determine and manage their welfare and resource allocations, insisting that he only receives what is constitutionally due to his office. It added that claims he sidelined members in the handling of the alleged N44 million OSOPADEC fund were “a manufactured lie designed to create artificial disaffection where none exists.” Speaking with newsmen, Oladiji also denied claims that 21 lawmakers had demanded his resignation. “I’m not aware of that,” he said. He equally dismissed allegations linking him to an alleged assassination plot against a fellow lawmaker. “I’m a law-abiding citizen. I’m a Christian; I don’t believe in all that. Let her come up with evidence to confirm such allegations,” he stated. But even as the Speaker sought to calm the growing controversy, the crisis assumed another dimension after the member representing Ilaje Constituency II, Olawumi FayemiObayelu, alleged in a Facebook post that she narrowly escaped death following threats aimed at stopping what she described as her

the House, urging him to resign or “face the consequences” of his actions. She also alleged that funds meant for her constituency were being diverted, insisting she would not be intimidated. Rather than easing tension, the controversy has since widened into allegations of executive interference. Chairman of the House Committee on Information and spokesperson of the Assembly, Hon. Olatunji Fabiyi, alleged that Governor Lucky Aiyedatiwa had been making efforts to persuade lawmakers to abandon the impeachment process against the Speaker. Fabiyi claimed that 21 of the 26 lawmakers had already endorsed Oladiji’s removal and insisted there was no going back on what he described as the collective decision of the House. The spokesperson said the lawmakers had resolved not to hold plenary until a new speaker is elected. “We have resolved not to hold plenary until there is a change of Speaker. “We still have seven days to go because I have the opinion that the government is calling some members that they should backpedal on the issue of impeachment,” Fabiyi said. He questioned what he described as Governor Aiyedatiwa’s interest in the matter, insisting that the impeachment move was purely an internal affair of the legislature. “Twenty-one members have signed an impeachment against Mr. Speaker. To me, I don’t know the interest of Mr. Governor. Unless the government is telling us that they have something in common,” he stated. investigation into alleged bribery, forgery and corruption involving the Speaker and OSOPADEC.

The lawmaker accused the Speaker of attempting to intimidate her and reaffirmed what she described as the position of two-thirds of

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Elumelu: Firebrand Whose Voice Has Shaped Nigeria’s Parliamentary Discourse

Jonathan Eze writes that parliamentarians with a demonstrable record of legislative engagements like Hon Ndudi Elumelu are likely to play an important role in enriching debates and strengthening oversight in the House of Representatives in the coming 11th National Assembly, as he’s set to once again get the nod of the electorate in Aniocha/Oshimili Federal Constituency.

n every democratic legislature, there are lawmakers who merely occupy seats, and there are those whose presence fundamentally shape national conversations. Over the years, Hon. Ndudi Elumelu, representing Aniocha/Oshimili Federal Constituency of Delta State in the House of Representatives, has consistently belonged to the latter category. Through a combination of rigorous legislative engagement, fearless oversight, articulate debate, and constituency-focused representation, Elumelu has carved out a reputation as one of the National Assembly’s most influential parliamentarians. His legislative career has been defined not by loud political theatrics but by strategic interventions on issues that touch governance, accountability, national development, and the welfare of ordinary Nigerians. Whether serving as Minority Leader of the House of Representatives or participating in critical committee assignments, Elumelu has demonstrated an uncommon ability to combine political diplomacy with principled advocacy. As conversations gradually shift towards the composition of the 11th and subsequent National Assemblies after the 2027 general elections, many political observers argue that lawmakers with deep institutional knowledge and proven legislative competence will be indispensable to preserving the quality of parliamentary deliberations. Within that conversation, Elumelu’s name frequently emerges as one of the most experienced voices

whose continued presence could strengthen legislative capacity. A Career Built on Legislative Substance Unlike many politicians whose public image rests primarily on electoral victories, Elumelu’s profile has largely been constructed around his performance. Throughout his years in the House of Representatives, he has developed a reputation for approaching national issues through careful analysis, constitutional interpretation, and policy-oriented debate. His contributions at plenary have often reflected a deep understanding of legislative procedure and the broader implications of public policy.

His tenure as Minority Leader particularly elevated his national profile. At a period marked by intense political competition, Elumelu demonstrated remarkable restraint, often choosing constructive engagement over unnecessary confrontation. While providing robust opposition where necessary, he equally supported initiatives considered beneficial to national development, reinforcing the idea that legislative effectiveness is measured by ideas rather than partisan rhetoric. This balanced approach earned him respect across party lines, illustrating that parliamentary leadership is often built on credibility rather than volume. Power Sector Probe Reinforces His Oversight Credentials Among the defining moments of Elumelu’s legislative career was his leadership of one of Nigeria’s most significant investigations into the country’s troubled electricity sector. The probe into the management of billions of dollars invested in Nigeria’s power sector attracted nationwide attention because electricity remains one of the country’s greatest developmental challenges. For decades, successive administrations invested enormous financial resources into generation, transmission, and distribution with results that many Nigerians considered disappointing. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

T H I S D AY • FRIday, August 7, 2026

BUSINESSWORLD R A T E S

MONEY MARKET

A S

REPO

A T

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

08056356325, 07034471123

A ugust

S & P INDEX

6 , 2 0 2 6

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 to daTE

0.24%

N1,358/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT THUR, August 6, 2026

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

Report: Agriculture, Manufacturing Recorded Sharp Output Rise as Services, Wholesale Booked Modest Growth in June

Dike Onwuamaeze Agriculture and manufacturing

sectors recorded sharp rises in output while the services and the wholesale and retail sectors booked modest growth in the month of July 2026. This was reported in the Stanbic IBTC Bank Nigeria’s Purchasing Managers’ Index (PMI), whose headline PMI registered 52.5 in July, though down from 53.4 in June but still above the 50.0 nochange mark and signalling a sixth successive monthly strengthening in the health of the private sector.

According to the report: “Improving demand conditions supported a further increase in business activity, albeit one that was only modest and the slowest since January.The agriculture and manufacturing sectors posted sharp rises in output, with growth more modest in the se rvices and wholesale and retail categories. A modest increase in employment was also recorded in July as companies responded to higher output requirements. Though the pace of growth eased to a three-month low.”

The report showed a sharp rise in new orders, expansions in output and higher employment and softened inflationary pressures during the month. It stated, “growth was maintained in the Nigerian private sector during July as firms again signalled a marked increase in new orders during the month. In turn, output and employment also rose, albeit modestly. Meanwhile, inflationary pressures softened.” The report said that higher output requirements and efforts to keep on top of

workloads contributed to a further monthly rise in employment in July. “Staffing levels have now increased in 14 consecutive months. The pace of job creation remained slight and eased to the weakest since April. Workforce numbers expanded across all four broad sectors covered by the report,” it said. It stated that inflationary pressures eased as the second half of 2026 got underway. “Overall input costs increased at the slowest pace in five months, but still sharply overall. Meanwhile,

there was a marked easing in the pace of purchase price inflation to the weakest since February. Panellists reported higher costs for fuel and raw materials,” the PMI said. Commenting on the PMI report, the Head of Equity Research West Africa, Stanbic IBTC Bank, Mr. Muyiwa Oni, said , “Nigerian businesses reported improved customer demand in July while better pricing and new product launches also helped them to capture new orders arising from the increase in demand.

“These factors helped to keep the private sector activity in an expansionary territory, although this moderated when compared to June. Notably, the headline PMI settled at 52.5 points in July after the 53.4 points recorded in June, presenting the slowest since March 2026. Businesses also increased their input purchasing activity, linking this to efforts to keep up with current demand requirements and prepare for future workloads.” The story continues online on www.thisdaylive.com

Stakeholders: Incessant Disruption of Airline Operations by Labour Unions Stifling Nation’s Economy Chinedu Eze

Stakeholders in Nigeria’s aviation industry have warned the different aviation unions over the incessant disruption of airline operations, insisting that such disruption is impacting negatively on the nation’s economy. The stakeholders posited that air transport in Nigeria

would continue to drive economic growth through the swift movement of key decision-makers, investors, and business leaders between major hubs like Lagos, Abuja, and Port Harcourt. They explained that the rapid mobility would continue to save crucial time, boost productivity, encourage investment, and

connect local markets to global trade networks, adding that when the chain of movement is disrupted by the unions, it impacts negatively on the nation’s economy. The stakeholders were reacting to the threat by National Union of Air Transport Employees (NUATE) and Air Transport Service

Senior Staff Association (ATSSSAN), which recently issued a seven-day notice to picket airlines indebted to the Nigeria Civil Aviation Authority (NCAA) on Ticket Sales Charge (TSC). TSC debt accumulated to billions of naira since the US-Iran war increased the cost of aviation fuel from N900 per litre to N3, 500

per litre at the peak of the war and multiplied the cost of airline operation, which made it difficult to pay the charges as they had planned to do before the Middle East crisis. The disagreement between labour and the airlines escalated after the two unions declared their intention to picket airlines that they accused of failing

to offset the debts as Ticket Sales Charge are collected from passengers on behalf of aviation agencies. The unions said the planned action followed the expiration of a 14day ultimatum and a subsequent seven-day extension issued to the affected airlines.

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, A u g u s t 6 , 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

95.04 104.60 102.64 92.76 101.44

Change Updated Time (%) 6, 0.00 August 17.58 2026 6, 17.67 0.00 August 2026 6, 18.00 0.00 August 2026 6, 17.92 0.00 August 2026 6, 18.00 -0.02 August 2026

Yield

BILLS Maturity NTB 6-Aug26 NTB 3-Sep26 NTB 8-Oct26 NTB 5-Nov26 NTB 3-Dec26

Discount Yield 16.22

16.42

16.25

16.67

16.02

16.69

16.45

17.38

16.89

18.12

CPs

Change (%) Updated Time

Maturity

6, -0.01 August 2026 6, 0.00 August 2026 6, -0.21 August 2026 6, -0.07 August 2026 6, -0.01 August 2026

DANS CP XVI 14-JUL-26 HAAI CP X 7-SEP-26 PCLL CP V 25-SEP-26 AGRO CP IV 7-DEC-26 UACN CP II 16-JUL-26

Discount Yield 20.70

20.76

21.88

22.70

21.50

22.53

20.93

22.91

18.67

18.74

CLEARED NAIRA-SETTLED NDFS Change (%)

Updated Time

6, 0.07 August 2026 6, -0.10 August 2026 6, -0.16 August 2026 6, -0.43 August 2026 6, 0.07 August 2026

Contract Tenor Contract (Month)

Current Rate ($/₦)

Updated Time

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FRIday, August 7, 2026 • T H I S D AY

BUSINESSWORLD

Firms Commit to Advance Nigeria’s A i r Digital Banking Technology Watch

Emma Okonji

Joint delegation, led by Interswitch Group CEO Mitchell Elegbe and Temenos MEA Managing Director Santhosh Rao, have explored new frontiers of innovation in areas such as core banking modernization, financial crime mitigation and Central Bank Digital Currency innovation. Interswitch Group, Africa’s leading integrated digital payments and commerce company, together with global banking software provider Temenos, jointly paid a courtesy visit to the Central Bank of Nigeria (CBN) last week, in a continued demonstration of their strategic partnership to advance the modernisation of Nigeria’s financial services sector.

In June 2026, Interswitch and Temenos officially announced a strategic partnership across Africa which will see Interswitch leverage Temenos solutions - across core banking, digital banking, payments, wealth management and financial crime mitigation - to provide cloud-hosted and onpremises managed services to banks and financial institutions across Africa. Discussions during the regulatory visit to CBN in Abuja, centred on the strategic partnership between Interswitch and Temenos, and how it will enable Nigerian financial institutions to progressively modernise their core banking platforms and transition to more customer-centric

business models. The two organisations also explored opportunities to work with the CBN in charting new frontiers in Central Bank Digital Currency (CBDC) innovation, leveraging resilient financial networks and decentralized application platforms to support the issuance and management of CBDCs. Commenting on the visit, Mitchell Elegbe, Founder and Group CEO of Interswitch, said: “Our partnership as Interswitch with Temenos and our continued engagement with the Central Bank of Nigeria reflect a shared commitment to building banking infrastructure that is resilient, inclusive, and ready for the next phase of Africa’s financial evolution.

BASL Holds Mid-year Management Retreat, Signals Next Phase of Growth

Bi-Courtney Aviation Services Limited (BASL), operators of the Murtala Muhammed Airport Terminal Two (MMA2), has concluded a three-day mid-year strategic management retreat themed: ‘Leadership for Total Quality Delivery’, aimed at reinforcing its core values and positioning the organisation for its next phase of growth. In his opening remarks, the Chairman of BASL, Dr. Wale Babalakin, reaffirmed the company’s vision and reflected on its resilience in navigating various challenges

over nearly two decades. “From the outset, I believed in the potential of this project, even when many doubted that a private company could successfully develop and operate an airport terminal in Nigeria. We remained focused on that vision,” he said. Reflecting on BASL’s journey, Babalakin noted that the company had overcome significant challenges while building the institutional strength required to successfully operate MMA2. “We have successfully managed this terminal

for nearly 20 years. That achievement reflects the resilience and capability of our team. Our success is anchored on competence and integrity. These remain non-negotiable values, and I urge everyone to uphold them consistently,” he said. Looking ahead, the chairman said recent progress on long-standing concessionrelated matters provides an opportunity to further strengthen MMA2’s regional positioning and support its ambition of becoming a leading aviation hub in Africa,” he noted.

Keyamo, Onyema, Others to Grace LAAC 30th Annual Conference The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, Chairman of Bi-Courtney Aviation Services Limited, Dr. Wale Babalakin and Chairman of Air Peace

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)

Limited, Dr. Allen Onyema, are the leading dignitaries billed to lead discussions at the 30th edition of the League of Airports and Aviation Correspondents (LAAC) Annual Conference schedule to hold in September at the Providence Hotel, Ikeja, Lagos. The conference, which has become Nigeria’s foremost aviation industry dialogue platform, will bring together top government officials, aviation regulators, airline operators, airport managers and other stakeholders in the aviation industry to deliberate on the theme: “Towards a Sustainable Aviation Industry: Balancing Government Revenue Demands with Sector Growth.” The event will witness the unveiling of the second edition of LAAC’s Champions of Aviation publication which chronicles the achievements and exploits of aviation agencies, airline operators,

and other industry players. Keyamo is the Special Guest of Honour, while the Chairman of Bi-Courtney Aviation Services Limited (BASL), Dr. Wale Babalakin, will chair the event. Chairman of Air Peace Limited, Dr. Allen Onyema, will deliver the keynote address, bringing his extensive industry experience to bear on discussions expected to shape policy recommendations for sustainable growth in Nigeria’s aviation industry. Speaking on the forthcoming conference, Chairman of the LAAC Conference Committee, Mr. Wole Shadare, described this year’s theme as timely, noting that the aviation industry is at a critical point where government revenue expectations must be carefully balanced with policies that encourage investment, competitiveness and long-term sustainability.

Air watch

Boosting African Continental Trade Chinedu Eze

Transport, His Excellency Ousmane Gaoul Diallo, welcomed Air Peace’s entry into the Guinean market, describing the new connection as an important development that would strengthen the relationship between Nigeria and Guinea while facilitating greater movement of people, trade and economic opportunities between both countries. Speaking on behalf of Air Peace, the Chief Commercial Officer, Mr. Nowel Ngala, described the inaugural flight as a significant milestone in the airline’s regional connectivity journey. He noted that the new Conakry and Bamako connections were part of Air Peace’s broader commitment to building a robust African network that enables travellers from across the airline’s domestic destinations to seamlessly connect through Lagos to regional and international destinations, including London and the Caribbean. Ngala reaffirmed that Air Peace remained committed to leveraging its growing network to bring African cities closer together, while providing passengers with greater connectivity, convenience and access to new opportunities across the continent and beyond. In Mali, members of the Nigerian community expressed their appreciation for the new route, noting that the direct connection would provide greater convenience for Nigerians travelling between both countries while further strengthening the bonds between the Nigerian and Malian communities. “The launch of the Lagos–Conakry–Bamako route reinforces Air Peace’s position as a key player in the advancement of intra-African connectivity and reflects the airline’s unwavering commitment to its mission of bridging cities, connecting people and driving economic opportunities through air travel. “With the commencement of operations to Conakry and Bamako, Air Peace now serves 13 regional destinations across West, Central Africa, marking a remarkable expansion achieved within just 11 years of commencing commercial operations. The milestone further underscores the airline’s antecedent of pioneering new routes, expanding Nigeria’s aviation footprint and positioning Lagos as a strategic gateway for seamless connectivity across Africa and the world,” the airline further said.

Nigeria’s leading carrier, Air Peace has started the actualisation of African Continental Free Trade Area (AfCFTA) initiative from Nigeria, connecting business people, investors and tourists to 13 capital cities in West and Central Africa. AfCFTA is projected to provide a massive free trade zone that connects 54 countries, 1.3 billion people and promote $1.4 trillion economy. Nigeria is at the centre of it all, one of the leading economies in Africa with the highest indigenous travellers on the continent. From its operations hub in Lagos, Nigeria, Air Peace connects travellers to Accra, Ghana, Abidjan, Ivory Coast, Bamako, Mali, Banjul, The Gambia, Conakry, Guinea, Cotonou, Benin, Dakar, Senegal, Doula, Cameroon, Freetown, Sierra Leone Libreville, Gabon, Monrovia, Liberia, Niamey, Niger, Lome, and Togo. In connecting the cities across the continent, Air Peace may be contributing significantly in breaking a long-held jinx that Africans do not trade among themselves through intra-African business. In fact, Africa is said to have the lowest level of intra-continental trade of any major region, with trade between African nations hovering around 15 per cent to 16 per cent of its total trade. This compares to roughly 68 per cent in Europe and 59 pr cent in Asia, largely due to historical trade routes, infrastructure gaps, and heavy border red tape. By opening these destinations, the largest West African carrier is also removing one of the major hindrances to trade, poor connectivity. One of the major reasons why the Yamoussoukro Decision was not actualised was poor connectivity. Before the Single African air Transport (SAATM) initiative by the African Union, poor connectivity in Africa was said to be marked by indirect routing, high ticket costs, and restrictive visa policies. These factors severely affected intracontinental trade, as only about 19 per cent of intra-African routes have direct flights, forcing business travellers to route through Europe or the Middle East, which restricts overall trade to a low 16 per cent of the continent’s total commerce. But Air Peace is peeling away the hindrance The story continues online on of connectivity by connecting West and Central www.thisdaylive.com Africa. It is also connecting Africa to the world with Lagos, Abuja to London flights, the flights to Antigua and Barbados. And soon it will connect Nigeria to Brazil. Last Weekend, Air Peace advanced its vision of This is to inform the general public that the above named has applied to connecting more African the Corporate Affairs Commission for registration under “Part F” of the cities by officially commencing Companies & Allied Matters Act 2020. flight operations on the THE TRUSTEES ARE: Lagos–Conakry–Bamako 1. Okonkwo Chinelo Henrietta – Chairman route on Saturday, August 2. Okonkwo Chisom Harriet – Trustee/Secretary 3. Okonkwo Stanley Chibuikem – Trustee 1, 2026, with the inaugural flight departing the Murtala AIMS & OBJECTIVES 1. To advocate for the prevention, early detection, control and effective Muhammed International management of poisoning by collaborating with government Airport Terminal 2, Lagos agencies, healthcare institutions, educational institutions, civil society organisations, development partners and other relevant The airline, in a statement, stakeholders. said: “The new route marks 2. To advocate for the formulation, review, implementation and enforcement of policies, guidelines, standards and legislation relating another significant milestone in to toxicology, poisoning prevention, poison control and chemical the airline’s strategic regional safety. expansion drive, connecting 3. To promote public awareness and education on poisoning prevention, toxicology, chemical safety and related public health issues through Nigeria’s commercial capital seminars, conferences, workshops, webinars, publications, with the Republic of Guinea advocacy campaigns and other lawful means. 4. To build the capacity of healthcare professionals, emergency and the Republic of Mali, responders, educators, policymakers and members of the public in while opening up greater the prevention, identification, investigation, treatment, management and reporting of poisoning and toxic exposures. opportunities for business, tourism, trade, cultural Any objection to this registration should be forwarded to the Registrar General Corporate Affairs Commission, Plot 420 Tigris Street, Off Aguiyi exchange and people-toIronsi Street Maitama, Abuja within 28 days of this publication. people connections across SIGNED: TRUSTEE the sub-region.” In Guinea, the Minister of

This

Weekend

FRIday, AUGUST 7, 2026 • T H I S D AY

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

07010510430

Weekly Magazine UTH

& R E ASO

Emeka Nsolibe: Embodying a Life of Leadership, Professional Excellence and Selfless Service

FRIday, AUGUST 7, 2026 • T H I S D AY

Cover

Emeka Nsolibe: Embodying a Life of Leadership, Professional Excellence and Selfless Service

As Rotarian Emeka Kenneth Nsolibe assumes office as the 30th President of the Rotary Club of Victoria Garden City (VGC), Lagos, his emergence reflects a lifetime of professional excellence, ethical leadership and unwavering commitment to humanitarian service. With nearly three decades of experience in supply chain management and a track record of impactful community service, Nsolibe embodies Rotary’s ideal of “Service Above Self,” bringing to the role a vision centred on sustainable development, integrity and lasting impact. Royce Okolie reports

here are individuals who merely witness history, there are those who observe events from a distance, and there are those whose lives become instruments of transformation. Rotarian Emeka Kenneth Nsolibe undoubtedly belongs to the last category—a man whose life has been defined by excellence, integrity, service, and an unwavering commitment to making society better than he met it. His recent installation as the 30th President of the Rotary Club of Victoria Garden City (VGC), Lagos, is not simply another leadership appointment. It is the culmination of decades of professional distinction, community service, and personal discipline that have earned him the respect of colleagues, friends, and members of the Rotary family. It is also a recognition of a man whose philosophy is rooted in creating opportunities, empowering people, and leaving behind enduring legacies. Born on April 1, 1971, into the family of Mr. Julius Chukwuma Nsolibe and the late Mrs. Agnes Nsolibe of Umuezenkaram, Ubahuekwem in Ihiala Local Government Area of Anambra State, Emeka was raised with the timeless values of honesty, humility, hard work, faith, and compassion. These principles would later become the compass that guided his personal and professional journey. His educational foundation began at New Haven Primary School, Enugu, before he proceeded to the prestigious Christ the King College (CKC), Onitsha, graduating with the Class of 1988. Determined to equip himself with the knowledge required for a meaningful career, he earned a degree in Mechanical Engineering from the Enugu State University of Science and Technology (ESUT). Never one to stop learning, he later obtained an MBA from the National Open University of Nigeria and a Diploma in Supply Chain Management from Michigan State University, USA, strengthening his expertise in one of the world’s most critical business disciplines. Today, with more than twenty-eight years of professional experience, Emeka Nsolibe stands among Nigeria’s leading supply chain professionals. His career has traversed some of the world’s biggest oil and gas companies, where he has consistently delivered excellence in procurement, logistics, contracts, supplier quality assurance, shipping, expediting, and materials management. Currently serving as the Regional Procurement Manager for Africa at TechnipFMC, he oversees complex procurement operations across the continent, ensuring efficiency, transparency, and value creation in large-scale energy projects. Before joining TechnipFMC, he distinguished himself in strategic positions at Shell Nigeria Exploration and Production Company (SNEPCO), AMEC Contractors West Africa Limited, and ExxonMobil projects, where his technical competence and leadership contributed significantly to the successful delivery of major projects. His achievements in the corporate world have earned him membership and fellowship of several prestigious professional bodies, including the Chartered Institute of Procurement and Supply (United Kingdom), the Chartered Institute of Purchasing and Supply Chain Management of Nigeria, and the African Centre for Supply Chain, where he is a Fellow. Yet, despite his impressive corporate accomplishments, those who know Emeka closely often speak less about his professional titles and more about his humanity. He believes that success finds its true meaning only when it improves the lives

L-R: Olufemi Awogbemi, Oluwaseun Okegbemiro, Akintunde Ogunmekan, myself, AG Omotunde Olaleye, PAG Tony Eigbokhan

L-R: Shaun Nsolibe, Joseph Nsolibe, Emeka Nsolibe, Ebele Nsolibe and Kamsi Nsolibe of others. That conviction naturally drew him to Rotary International, one of the world’s foremost humanitarian organisations. Since joining the Rotary Club of Victoria Garden City during the 2017/2018 Rotary Year, Emeka has immersed himself in the ideals of service above self. Rather than merely attending meetings, he chose to become actively involved in planning and implementing projects that directly impact communities. Over the years, he has served as Club Service Projects Chairman, Vice President, Club Foundation Chairman, member of the District Governor Installation Committee, and member of the ROSFEST Committee, among several other responsibilities. In every role, he demonstrated exceptional organisational ability, humility, accountability, and a deep commitment to Rotary’s mission. These qualities made his emergence as the club’s 30th President both fitting and widely celebrated. His installation represents more than a ceremonial transfer of leadership; it signals the beginning of another chapter in the Rotary Club of VGC’s remarkable journey of humanitarian service. Accepting the responsibility, Emeka articulated a vision anchored on Rotary International’s theme, “Creating Lasting Impact.” His message was clear: meaningful service must outlive ceremonies and create sustainable solutions to societal challenges. One of his administration’s flagship priorities is expanding access to clean water, sanitation, and hygiene (WASH). For him, providing potable water is not merely an infrastructure project—it is an investment in public health, education, dignity, and economic productivity. He has also committed to strengthening fellowship through active service, ensuring that every member contributes meaningfully according to his or her expertise. Under

his leadership, Rotary will not merely be an association of professionals but a community of problem-solvers working collectively to improve lives. Equally important is his commitment to transparency and accountability. Drawing from his vast experience in procurement and supply chain management, he has pledged that every donation entrusted to the club will be judiciously utilised and translated into visible, measurable impact. His philosophy is simple but profound: integrity builds trust, and trust sustains institutions. Beyond Rotary and the boardroom, Emeka is a devoted husband, father, mentor, and community leader. Married to Mrs. Ebele Nsolibe, the couple has been blessed with three wonderful children—Shaun, Kamsi, and Joseph. Friends often describe the family as warm, welcoming, and firmly rooted in Christian values. He is also a committed member of the Knights of St. John International (KSJI), where he continues to promote faith, discipline, and service to humanity. What perhaps distinguishes Emeka most is his personality. He possesses a rare ability to remain calm under pressure while inspiring confidence in those around him. Soft-spoken yet decisive, approachable yet principled, humble yet exceptionally competent, he exemplifies servant leadership in its purest form. Colleagues describe him as dependable, trustworthy, compassionate, and generous with his time and knowledge. Younger professionals see him as a mentor who willingly shares his experience, while community members know him as someone who quietly supports charitable causes without seeking public recognition. His life demonstrates that leadership is not measured by titles but by the number of lives positively touched. The Rotary Club of Victoria Garden City, which he now leads, has a rich history dating

back to 1997, when visionary Rotarians established the club with a commitment to community development. Over nearly three decades, the club has executed numerous life-changing projects, including the construction and renovation of health facilities, provision of boreholes, educational support, vocational training programmes, medical outreach initiatives, donations to orphanages, literacy campaigns, and youth empowerment projects. Under Emeka’s stewardship, many believe the club is poised to build upon these achievements and explore innovative partnerships capable of expanding its humanitarian footprint across Lagos State and beyond. His leadership style combines strategic thinking with compassion, efficiency with empathy, and vision with execution. These qualities are particularly significant in a world increasingly confronted by poverty, unemployment, inadequate healthcare, environmental challenges, and widening social inequalities. As society grapples with these realities, leaders like Emeka remind us that sustainable development begins with individuals who choose to serve rather than be served. Throughout his life, he has embraced continuous improvement as a guiding principle. One of his favourite sayings captures this philosophy perfectly: “If you think of standardisation as the best that you know today, but which is to be improved tomorrow, you get somewhere.” Those words reflect a mindset that refuses complacency and constantly seeks better ways to solve problems. His belief that inspiration must be pursued rather than awaited has equally shaped his journey. Instead of waiting for opportunities to emerge, he creates them. Instead of complaining about societal challenges, he mobilises people and resources to address them. Instead of pursuing personal glory, he invests in collective progress. That is why his story resonates beyond Rotary. It is the story of a Nigerian professional who has combined academic excellence, technical expertise, ethical leadership, family values, and humanitarian service into one purposeful life. It is the story of a man who understands that true success is measured not by wealth accumulated but by lives transformed. As he begins his tenure as the 30th President of the Rotary Club of Victoria Garden City, expectations are understandably high. However, those who know him remain confident that he possesses the vision, discipline, experience, and character required to exceed those expectations. His presidency promises to deepen Rotary’s impact through sustainable projects, stronger partnerships, transparent leadership, and increased member participation. More importantly, it promises to inspire a new generation of leaders to embrace service above self. Indeed, Emeka Kenneth Nsolibe’s journey is a compelling reminder that greatness is not reserved for a privileged few. It belongs to those who dedicate their talents to the service of humanity. In an age when genuine leadership is increasingly scarce, his life stands as a shining example that integrity still matters, compassion still transforms lives, and selfless service remains humanity’s greatest investment. As he carries the Rotary gavel with humility and purpose, one thing is certain: Rotarian Emeka Kenneth Nsolibe is not merely leading a club, he is building a legacy that will endure for generations.

WEDNESDAY, 11, 2026 • T H 7, I S2026 D AY T H I S DMARCH AY • FRIay, AUGUST

business/MOnEYGUIDE

Pathway Advisors Opens N25bn Series 3 CP Issuance for Zeenab Foods Oriarehu Bonny

In a fresh boost for Nigeria’s corporate debt capital market, Pathway Advisors Limited has announced the launch of Zeenab Foods Limited’s Series 3 Commercial Paper (CP) issuance of up to N25 billion. The offer, now open to subscription, is issued under the company’s broader N50 billion Commercial Paper Programme. According to transaction details, the subscription window opened on August 4, 2026, and is set to close on August 10, 2026, with issue and settlement scheduled for August 11, 2026, and maturity falling on August 10, 2027. Proceeds from the N25 billion debt issuance will be deployed directly towards working capital financing to support Zeenab’s short-term funding

requirements across its agro-processing and commodity trading operations. Zeenab Foods, established in 2011, plays a notable role in Nigeria’s agro-value chain, operating across three core segments: milling of paddy rice, export of processed and packaged agrocommodities, and food supply contracts with international donor agencies, including the United Nations World Food Programme. Its footprint spans processing facilities in the Federal Capital Territory (Abuja) and Kano State, with an export liaison network extending to China, through offices in Changsha, Guangzhou and Shanghai, and to the Middle East, via a hub in Dubai. Pathway Advisors, acting as Lead Arranger and Issuing House, has

structured the Series 3 issuance as follows: The offer is priced on a fixed-price basis, with minimum participation pegged at ₦5 million and integer multiples of N1,000 thereafter. Highlighting the creditworthiness of the issuer, leading rating agencies have assigned investment-grade ratings to Zeenab Foods: Agusto & Co.: Short-Term A1, Long-Term A- DataPro Limited: Short-Term A1, Long-Term A+ The company has built a consistent repayment history under both its former N20 billion programme and the current N50 billion programme, having redeemed successive tranches across Series 1 through 4 since 2024, with every obligation settled ahead of its due date, a track record underscoring the strength of its cash flow and investor confidence in the paper.

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

Godofreda Launches Initiative to Connect AfricanTraders with Manufacturers

-- Narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

The new app from Aimpexx has been launched to enable African traders order goods directly from manufacturers worldwide. It replaces the sourcing middleman with a verified video feed. In a statement, the company explained that for decades, the distance between African traders and a factory floor in Guangzhou has been measured not in kilometres but in trust. “Money moves first. Goods move later, if they move at all. Somewhere between the two sits an agent whose reputation is the only guarantee anyone has. Godofreda is built to close that gap. Developed by Nigerian logistics and supply chain company Aimpexx, the platform lets buyers discover, vet and order from verified factories and vendors around the world without a broker standing between them and the source,” it said.

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

“The product does something unusual for business-to-business commerce: it looks like a social app. Buyers swipe through video feeds published by manufacturers, follow the factories they like, watch live product launches and place orders inside the same interface. It is discovery in the visual language a generation of Nigeria and African traders already speaks fluently, applied to a category that has spent years buried in grainy catalogues and forwarded price lists,” it said. Founder and Chief Executive Officer of Aimpexx, Olayanju Ifeoluwa, said: “Every African who has ever sent money abroad and then prayed knows exactly why we built this. I lost a container to learn what this market loses every day. Not the money, the trust. Godofreda exists so that the next person does not have to pay that price.”

He said: “Roughly $1.4 trillion moves in and out of Africa every year, and almost none of it moves on rails we built. Africa has always been on the map of global trade. We were just never the ones holding the pen. The new geography of trade is not about where goods come from. It is about who sets the terms,” Ifeoluwa said. Ifeoluwa explained that Aimpexx has spent years finding suppliers, paying them, inspecting goods before they ship, arranging manufacturing runs and moving containers. The company operates from Lagos and from Liwan District in Guangzhou, with established relationships across the Chinese supplier base. “Godofreda is not a marketplace built on top of nothing. It is a discovery and ordering layer built on a fulfilment operation that already exists, already has staff on both ends of the route, and understands the challenges traders face,” he said.

BUA Cement Graduates 60 Operators, Offers Automatic Jobs Onuminya Innocent in Sokoto Leading cement manufacturer, BUA Cement PLC, has graduated 60 youths trained as Heavy Duty Machine Operators at its Sokoto plant, with 52 of the graduands offered automatic employment by the company. The graduation

ceremony, held in Sokoto, was part of BUA’s Corporate Social Responsibility drive aimed at empowering host communities and reducing youth unemployment in the state. Speaking at the event, the Managing Director and Chief Executive of BUA Cement, Engr. Muhammad Haliru Binji, who was

represented by the Plant Director, Engr. Aminu Bashir, said the trainees underwent a rigorous six-month technical training program. Binji explained that the program was designed to equip youths with practical skills in the operation and maintenance of heavy-duty equipment used in cement production and mining operations.

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 • FRIay, AUGUST 7, 2026

mARKET NEWS

Stock Market Gains N192bn on Demand for First Holdco, Others

by 2.19per cent to close at N140 per share from 137 per share, the market The Nigerian stock market capitalisation closed for yesterday appreciated trading at N158.278 trillion by N192 billion over from N158.087 trillion surge demand for First it closed for trading the Holdco Plc and 23 other previous day. quoted companies on The NGX All Share the Nigerian Exchange Index settled at 245,209.34 Limited (NGX). basis points, an increase As the stock price of of 0.12 per cent from First Holdco advanced 244,912.24 basis points Kayode Tokede

P R I C E S MaiN Board

F O R DEALS

when the stock market opened for trading as the Year-to-Date returns settled at 57.6 per cent. Sectoral performance was broadly positive as the NGX Banking Index gained 0.6per cent, NGX Consumer Goods Index advanced by 0.2 per cent and NGX Oil & Gas increased by 0.1 per cent, while the NGX

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

quantity traded

Insurance Index dipped by 0.9per cent. The NGX Industrial Goods index closed flat. Market breadth remained negative at 0.64x, with 23 gainers against 36) losers, indicating that the market’s marginal advance was driven by gains in a handful of large-cap stocks.

T R A D E D

value traded ( N )

MaiN Board

A S

O F

Eterna appreciated by 10per cent to N36.30 per share to emerge as the session’s top gainer This was followed by AVA Capital that gained 9.63 per cent to close at N11.95 per share. ETI dropped by 9.99per cent to close at N72.10 per share, to record the steepest decline. Chellaram was down by

A U G U ST DEALS

9.85 per cent to close at N11.90 per share. The total volume traded declined by 35.5per cent to 531.77 million units, valued at N20.46 billion, and exchanged in 44,826 deals. FCMB Holdings Plc was the most traded stock by volume at 131.74 million units while First Holdco was the most traded stock by value at N5.95 billion.

5 / 2 6

Market Price

quantity traded

value traded ( N)

FRIDAY, AUGUST 7, 2026 • THISDAY

NEWS

OBI DONATES ₦10 MILLION TO FAITH FOUNDATION COLLEGE OF NURSING SCIENCES...

The presidential candidate of the National Democratic Congress (NDC), Mr Peter Obi, on Thursday donated ₦10 million to Faith Foundation College of Nursing Sciences in Nsukka, Enugu State, reaffirming his commitment to supporting education and healthcare development in Nigeria

APC Chairman, Yilwatda, Defends Tinubu’s Economic Reforms at Jos Colloquium, Says Policies Delivering Results Yemi Kosoko in Jos The National Chairman of the All Progressives Congress, Prof. Nentawe Yilwatda, has said that President Bola Ahmed Tinubu’s economic reforms are already reshaping Nigeria’s financial landscape, restoring investor confidence and laying the groundwork for the administration’s ambitious $1 trillion GDP target. Speaking at the Prof. Nentawe Yilwatda Colloquium 2.0 held in his honour in Jos to mark his 58th birthday, the APC Chairman said Tinubu’s bold policy decisions long avoided by previous administrations have begun yielding measurable gains. Prof. Yilwatda told participants that Nigeria’s economic growth has, for the first time in years, outpaced population growth. He noted that the country’s GDP has risen from below $300 billion

to about $375 billion within two years, a development he attributed to decisive reforms. “For the first time, our exports have exceeded our imports. Investors are returning to Nigeria because confidence has returned. The productive economy we have long desired is beginning to emerge,” he said. He highlighted ongoing investments in deep seaports, rail lines, highways and inland dry ports, describing them as critical infrastructure that will lower business costs, expand trade and position Nigeria as the economic hub of West and Central Africa. According to him, every kilometre of road constructed “represents increased commerce, improved security and accelerated economic development.” Prof. Yilwatda described President Tinubu’s economic vision as a longterm national development strategy

AFDB: NIGERIA’S REVENUE BASE WEAK AMID $2.3TN INFRASTRUCTURE DEVELOPMENT NEED It maintained that while recent informal sector and strengthening tax administration across all levels reforms, including exchange rate liberalisation, tax reforms, fuel of government. It further called for deeper subsidy removal and banking domestic capital markets capable sector recapitalisation, have helped of mobilising long-term financing stabilise macroeconomic conditions, from pension funds, insurance long-term economic transformation companies, sovereign wealth will depend on whether the country funds and diaspora investors to succeeds in converting these reforms into higher productivity, stronger complement public resources. According to the AfDB, im- domestic revenue mobilisation proving project preparation and and more efficient deployment governance will also be critical to of development financing. It stated that Nigeria possesses attracting larger volumes of private investment through public-private the economic scale, financial potenpartnerships and blended finance tial and demographic advantage to arrangements. bridge its infrastructure deficit over The bank argued that addressing time, but warned that achieving this Nigeria’s productivity challenge objective would require a decisive would require sustained invest- shift from dependence on public ments in transport infrastructure, borrowing. It therefore advised that the electricity, digital connectivity, education, healthcare and technological government should look towards innovation, alongside reforms a development model anchored on aimed at improving the business stronger domestic revenues, higher environment and strengthening productivity and sustained private sector participation. institutional capacity.

rather than a pursuit of short-term political gains. “President Tinubu has a master plan. He is not building for today alone; he is building a future that our children and grandchildren will inherit.” He expressed gratitude to the APC leadership in Plateau State

for supporting his political rise, acknowledging former Governor Simon Bako Lalong and other party leaders. He also thanked President Tinubu for entrusting him with national responsibilities. Calling himself the President’s “chief campaigner,” Yilwatda pledged to mobilise nationwide support for

Tinubu’s re-election bid, expressing confidence that the APC would win the 2027 general elections. Imo State Governor Hope Uzodimma, represented by the Minister of Steel Development, Prince Shuaibu Abubakar Audu, commended Nentawe for strengthening the APC, expanding its membership

and conducting nationwide primaries with minimal disputes. Plateau State Governor Caleb Mutfwang, in a keynote speech, described Nentawe as an accomplished academic, technocrat and administrator whose leadership continues to inspire young Nigerians.

PSC Hands Over 50,000 Newly Recruited Police Constables to the Nigeria Police Force for Training Linus Aleke in Abuja

The Police Service Commission (PSC) has formally handed over 50,000 newly recruited Police Constables to the Nigeria Police Force for training. According to a statement by the Commission’s Head of Protocol and Public Relations, Torty Njoku Kalu, the handover ceremony took place at the Commission’s Corporate Headquarters in Abuja. Presiding over the event on

behalf of the Chairman of the Commission, the Commissioner representing the Judiciary, Hon. Justice Paul Adamu Galumje (Rtd), said the recruitment exercise was conducted in line with the directive of President Bola Ahmed Tinubu and in accordance with the relevant statutory provisions. Justice Galumje expressed appreciation to the President for his continued support and formally handed over the successful recruits

for training at designated Police Colleges and other approved institutions, in line with approved standards and best practices. He also presented the detailed list of successful candidates, contained in a flash drive, to the Nigeria Police Force. Receiving the recruits on behalf of the Inspector-General of Police, DIG Isyaku Mohammed, who is in charge of Training and Development, commended the Commission for

conducting what he described as a transparent recruitment exercise. He assured that training for the new constables would commence simultaneously across the country once the necessary funds are released. Also speaking, the Ministry of Police Affairs, represented by the Director of the Police Service Department, Mr. Ibrahim Muhammad, described the recruitment process as credible and transparent.

NGX GROUP: DANGOTE REFINERY’S IPO WILL BE GAME CHANGER even surpassed.” Kwairanga stressed that almost all sectors of the market had enjoyed significant increases over the course of the year, citing some of the top performing sectors in the first half of 2026 as banking, industrial goods, and oil and gas. On whether or not foreign investors were returning in significant numbers, he admitted that while they were making a comeback, the numbers were not like about a decade back. He stated, “The local investor base presently dominates the market in percentage terms. We expect more foreign investors to recognise the turnaround in Nigeria’s economy, the stability in forex management, the robust performance of Nigerian economies and their shares and see the value in the Nigerian market as we continue to top the global charts in terms of performance.”

Meanwhile, Dangote Refinery’s performance as Europe’s largest jet fuel supplier for the second consecutive month followed its overtaking of the United States with a record 466,000 tonnes exported to Europe in June, when Nigeria first displaced the United States as the region’s leading supplier of imported jet fuel. The sustained export performance marks a significant milestone for the refinery, demonstrating its ability to consistently supply one of the world’s most demanding fuel markets with aviation fuel that meets stringent international quality specifications. Europe imported approximately 2.06 million tonnes of jet fuel in July, with Dangote accounting for the single largest share of those imports, ahead of traditional suppliers from the United States and the Middle East. Industry observers say the refinery is rapidly reshaping established Atlantic Basin fuel trade flows by

offering a competitive alternative to long standing suppliers. While European buyers have traditionally relied on refiners in the United States, the Middle East, and Asia, Dangote’s strategic location on Nigeria’s Atlantic coast, combined with its scale, modern technology, and export capability, has enabled it to become an increasingly important source of aviation fuel for European markets. The refinery’s export momentum has been supported by steadily rising production. Jet fuel loadings at Dangote’s Lekki export terminal reached a record 550,000 tonnes in June, while crude deliveries to the refinery climbed to an all-time high of 660,000 barrels per day, providing the throughput required to sustain growing exports of refined petroleum products to international markets. The latest figures come at a time of shifting global energy flows.

Although Europe received limited volumes of jet fuel from Kuwait, the United Arab Emirates, and Oman in July, market disruptions around the Strait of Hormuz and evolving geopolitical dynamics have encouraged buyers to diversify supply sources. Against this backdrop, Dangote Refinery has emerged as a reliable and competitive supplier, reinforcing Nigeria’s growing importance in global refined products trade. Managing Director and Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, David Bird, stated, “Beyond aviation fuel, the refinery has continued to expand exports of diesel, gasoline and other refined petroleum products to destinations across Europe, Africa, and other international markets, further strengthening Nigeria’s position as a net exporter of high value petroleum products.”

THISDAY • FRIDAY, AUGUST 7, 2026

NEWS

COURTESY VISIT...

L-R: Member, OTL Africa Downstream Committee, Mr Dami Ajayi; Deputy Director, Administration and Human Resources, Lagos State Ministry of Tourism Arts and Culture, (MTAC), Mr Temitope Saaka; Director, Creative Arts Department, MTAC, Mrs Bisi Omojare; Director, Research and Development Department, MTAC,Mr Frank Legunsen; Chief Executive Officer, OTL Africa Downstream, Mrs. Joyce Akabogu; representative of Permanent Secretary, Lagos State Ministry of Tourism, Arts and Culture /Director, Administration and Human Resources, Mr. Taoreed Dosunmu; Programme Advisor, OTL Africa Downstream, Ms. Naomi Emeh; and Director Tourism Promotions Department, (MTAC),Mr. Aminu Omosu, during a courtesy visit by the OTL Africa Downstream delegates to the Ministry, Alausa, Ikeja, yesterday

Okpebholo Mocks ‘Dancing’ Adeleke, Says Osun Governor Misses Meetings Collect his money, kick him out, Edo gov tells electorate

Emmanuel Addeh in Abuja

Edo State Governor, Monday Okpebholo, has launched a blistering attack on Osun State Governor, Ademola Adeleke, mocking his penchant for dancing and accusing him of neglecting governance. Campaigning for the All Progressives Congress (APC) governorship candidate in Osun, Bola Oyebamiji (Ambo) in a viral video, Okpebholo also urged voters to collect money

allegedly being distributed by political opponents but vote for the APC at the polls. The Edo governor repeatedly derided Adeleke over his public dancing, arguing that it had become a distraction from the business of governance. “Before somebody sign (sic) paper, he will dance. Are you not tired? For four years, this man has been dancing. Before he take (sic) breakfast, before he drink (sic) tea, he will dance,”

Okpebholo told supporters at the campaign rally. He also claimed that Adeleke rarely attended meetings with other governors in Abuja because of his late arrival. “I was asking my friend and I said, I can’t even remember when I saw this man in our general meeting in Abuja. Before he even enter (sic) the plane, he will dance. Before he get (sic) there, we are closed. So, he won’t know what we are saying. He

doesn’t know the reality of today,” he said. Okpebholo urged the electorate to reject the Accord Party (AP) administration in the state, insisting that the best way to deal with what he described as a non-performing government was to vote it out of office. “A government that is not working, the best gift for him is to send him out of that state. If he is not working, what business does he have

Uzodimma Distances Self from Response to Davido, Says ‘I’m Not an Osun Voter’ Insists musician remains his son, says APC campaign will focus on peaceful poll

Sunday Ehigiator Imo State Governor, Hope Uzodimma, has distanced himself from comments made in response to an appeal by Nigerian music star David Adeleke, popularly known as Davido, ahead of the August 15 Osun State governorship election, insisting that he neither authorised nor endorsed the remarks. In a statement yesterday by his Chief Press Secretary and Special Adviser on Media, Oguwike Nwachuku, the governor said he was not responsible for comments attributed to one Ambrose Nwogwugwu, who had described Davido’s appeal as “emotional blackmail.” Uzodimma stressed that Nwog-

wugwu spoke in his personal capacity and did not represent either the governor or the APC Osun State Governorship Campaign Council, which he chairs. The clarification followed Davido’s reported appeal during a media briefing, where the singer, who is married to an Imo indigene, called on Uzodimma to use his influence as Chairman of the Progressive Governors Forum and Chairman of the APC Osun Governorship Campaign Council to ensure a peaceful election. Responding, the Imo governor said Davido remained “his son” and assured him that his presence in Osun would be strictly in his capacity as a committed member of the All

Progressives Congress (APC) and leader of the party’s campaign council. “I am not an Osun voter,” Uzodimma said, explaining that he would not be participating in the election as an electorate but would only monitor the exercise and canvass support for the APC candidate, Asiwaju Munirudeen Bola Oyebamiji. The governor maintained that the APC has consistently advocated peaceful, credible, free and fair elections and would continue to encourage the people of Osun State to vote for its candidate through legitimate democratic engagement. He said there was nothing undemocratic about party leaders

travelling to states to campaign for their candidates, noting that such practices are common in Nigeria’s democratic process. Uzodimma also reaffirmed his respect for Davido and the people of Osun State, describing it as “nonnegotiable.” He urged the singer, residents of Osun and the general public to disregard Nwogwugwu’s comments, insisting they neither reflected his personal position nor that of the APC campaign council.

here? Does he have any business? Are you not tired of dancing, dancing, dancing Governor?” he asked. The governor also advised voters to collect money from rival political parties if offered but not allow it to influence their choice at the ballot box. “If they bring money, chop (sic) that money from them but don’t vote for them. They said they have money to spend, is that not so? Just collect the money and keep it in your pocket,” he said. Drawing parallels with the 2024 Edo governorship election, Okpebholo linked Adeleke with former Edo State Governor, Godwin Obaseki, whom he said had already been rejected by Edo voters. “That man is Obaseki’s friend. You know we kick (sic) Obaseki out of Edo. So, we have to kick his friend out of this place too,” he declared. Throwing his weight behind the APC candidate, Okpebholo described Oyebamiji as the candidate capable of delivering meaningful development to Osun State. “This Ambo is the man that stands for development of this state. Your schools, this is the man that will develop your schools. He will build up for you with concrete pavements. A road that will last for 80 years and above. “The reality of today is somebody that will change it and make develop-

ment for Osun State. What are you looking for? Is it not development? Somebody that will bring about prosperity to this land. That is the person we need and that person is Ambo,” he said. The Edo governor also criticised the condition of roads in Osun, using it to reinforce his attack on Adeleke’s administration. “Let me tell you something. The road I was passing, my tyre was shaking. I said, is it the dancing road or the dancing governor’s road? They said it is the dancing governor’s road. “But I want you to enjoy a good road. And the man that will give you a (sic) good road is Ambo. Are we ready? Osun, are we ready to make a change? Are we ready to say back to dancing so that it is only when there is ceremony (sic) that people will go and dance. Not when it is business to save the people and save the land?,” he said. Okpebholo further argued that President Bola Tinubu had provided adequate resources for governors to deliver development in their respective states, questioning how those resources had been utilised in Osun. “Let me tell you, a governor that is working in a state is (sic) the president that is working in that state. Because every resource that that governor is going to use is already provided by the president.

Creative Hub Targets Youth Skills Gap in Nigeria’s Film Industry

access to quality training, profes- discovering photography, which Ake sional equipment and industry later inspired him to study filmNGO Advocates Dedicated Budget Line for Ayodeji Filmmaker and creative entrepreneur opportunities. We want to bridge making at the Cape Town School of Photography in South Africa. Owolabi has unveiled a new that gap,” he said. Family Planning Commodities in Katsina Ayo According to him, the creative Beyond commercial productions, initiative aimed at equipping young Nigerians with practical skills in hub integrates film production, he said he is committed to telling Francis Sardauna in Katsina

A Non-governmental Organisation, Access to Medicines Initiative (AMI), has called on the Katsina State Government to establish a dedicated budget line for family planning commodities in the 2027 fiscal year amid declining donor funding for reproductive health programmes in the country. The organisation said the provision of the budget line would ensure the

sustained availability of reproductive health commodities and improve access to quality and efficient maternal healthcare across the state. The National Focal Person of AMI, Dr. Musa Abdullahi Sufi, made the appeal during the dissemination of the domesticated national guidelines for state-funded procurement of family planning commodities workshop held in Katsina on Thursday. With the theme, ‘Strengthening Government Ownership and Sustain-

able Financing for Improved Access to Childbirth Spacing Commodities in Katsina State’, the one-day workshop was organised by the state Ministry of Health with support from AMI and SIDES. He explained that the creation of a budget line would ensure adequate funding for the procurement and distribution of family planning commodities, reduce dependence on donor funding and improve reproductive health.

filmmaking, photography and digital content creation, saying talent alone is not enough to succeed in the country’s growing creative industry. Owolabi, Creative Director of Emerald Floyde and Royal EFANDR, said the project was designed to bridge the gap between creativity and access to professional opportunities. “There is no shortage of talent in Nigeria. The challenge is that many gifted young people lack

equipment rental, talent management and hands-on training to support aspiring filmmakers, photographers, actors, musicians and digital creators. “We don’t just rent equipment; we provide solutions. If someone has an idea but doesn’t know where to start, we have the people, expertise and facilities to help bring that vision to life,” Owolabi added. Originally trained as an Electrical and Electronics Engineer, Owolabi said his career path changed after

stories that reflect everyday Nigerian life. His latest documentary, set to premiere on YouTube, focuses on the lives of fishermen and market women in a Lagos fishing community. He disclosed that he is also producing a short film on discrimination against people living with albinism and another documentary highlighting the vibrant street football culture in Abeokuta.

FRIDAY, AUGUST 7, 2026 • THISDAY

NEWS

PREMIUM TRUST BANK OPENS OWERRI REGIONAL OFFICE...

Imo State Governor, Senator Hope Uzodimma flanked on his right by his Deputy, Lady Chinyere Ekomaru and on the left by MD/CEO, Premium Trust Bank, Mr. Emmanuel Efe Emefienim, at the Commissioning of the Regional Office of the Bank in Owerri... yesterday

Tinubu Consoles Ex-Finance Minister, Kemi Adeosun, Over Death of Husband, Adeniyi Adeosun Deji Elumoye in Abuja and Sunday Ehigiator in Lagos President Bola Tinubu has expressed his condolences to former Minister of Finance, Mrs. Kemi Adeosun, following the death of her husband, Mr. Anthony Adeniyi (Niyi) Adeosun, who passed away in Lagos on Wednesday at the age of 62. The President, in a statement

yesterday by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, sympathised with Mrs. Adeosun, the Adeosun family, friends and business associates over the loss. Tinubu urged the bereaved family to take solace in the enduring legacies of faith, service and charity left behind by the deceased, whom he described as a devout Christian.

The President noted the widespread tributes and testimonies that have trailed Adeosun’s passing, particularly highlighting his commitment to supporting the less privileged and contributing positively to society. He prayed that Almighty God would grant Mrs. Adeosun and the entire family the strength and comfort to bear the loss, while

granting the deceased eternal rest. The Adeosun family had earlier announced the passing of Anthony Adeniyi Adeosun in a statement signed on its behalf by Rev. C. A. Adeosun. The family described him as a distinguished businessman and devoted Christian whose life was characterised by integrity, generosity and unwavering faith. According to the statement,

“Adeosun was committed to his family, his community and the service of God, leaving behind a legacy that touched many lives. “He is survived by his wife, Mrs. Kemi Adeosun, his children, siblings, including Mr. Adewale (Wale) Adeosun, founder of Kuramo Capital, as well as other relatives, friends and associates.” The family expressed appreciation for the prayers, condolences

IN DEFT MOVE, TINUBU DIRECTS EFCC TO UNFREEZE OSUN ACCOUNT

Tinubu in a phone conversation with Governor Ademola Adeleke on Thursday informed him about his directive to the EFCC to lift the court order on the Osun State Government account.” The telephone conversation came amid mounting criticism from opposition parties, civil society groups and legal practitioners who had questioned the propriety of freezing a state’s statutory allocation account barely days before a governorship election.

State ahead of the election. It therefore called on Tinubu to ensure that security agencies remained neutral before, during and after the governorship poll, while urging the Independent National Electoral Commission (INEC) to conduct a transparent and credible election free from intimidation and political interference.

Accord Alleges Plot to Influence Poll

However, former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku, said Tinubu’s directive to the EFCC had irretrievably damaged the long-standing claim that the anti-graft agency operates independently of the Presidency. In a statement issued by his Special Assistant on Public Communication, Mr. Phrank Shaibu, Atiku challenged the President to direct the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to release former Kaduna State Governor, Mallam Nasir El-Rufai, if indeed he possessed the authority to issue operational directives to anti-corruption agencies. Atiku argued that Tinubu’s statement had raised more questions than answers, particularly because the President repeatedly referred to a court order which the EFCC itself had not mentioned in its public explanation for freezing the Osun State Government’s account. “President Tinubu’s statement has raised more questions than it has answered. While the EFCC’s official statement painstakingly explained why it froze the Osun State Government’s account, it made no mention whatsoever of obtaining a court order. “Yet the President’s intervention is

Also yesterday, the Accord Party alleged that the freezing of the Osun State Government’s accounts formed part of a broader plot to influence the outcome of the August 15 governorship election. In a statement signed by its National Chairman, Chief Maxwell Mgbudem, the party described the action as unconstitutional, politically motivated and an abuse of state institutions. According to the party, the move was designed to weaken the administration of Governor Adeleke and pave the way for the All Progressives Congress (APC) to reclaim the state. “The arbitrary freezing of the Osun State Government accounts is unconstitutional and unacceptable. It is part of a wider plot to deploy federal institutions to capture Osun State for the APC,” the party stated. Accord maintained that the action amounted to an assault on democracy and vowed to challenge the EFCC’s action in court, insisting that the commission acted without first obtaining a valid court order. The party further alleged that security agencies had intensified the harassment, arrest and detention of its members and supporters in Osun

Atiku Questions EFCC’s Independence

predicated entirely on the existence of such a court order, which he claims to have directed the EFCC to vacate. “If indeed there was a court order, why did the EFCC omit such a fundamental fact from its official account? If there was none, then the President has introduced into the public discourse a legal process that exists nowhere in the EFCC’s own narrative. Nigerians deserve a coherent explanation instead of conflicting versions from the same government,” Atiku said. He maintained that the President could no longer insist that the EFCC was operationally independent while simultaneously directing it to withdraw an action already initiated. “President Tinubu cannot have it both ways. He cannot claim that he neither knows of nor interferes in the operations of the EFCC and, in the very next breath, announces that he has directed the Commission to discontinue its action and return to court. “If the EFCC promptly complies with that directive, then Nigerians have before them undeniable proof that the Commission is not as operationally independent as the President wants the country to believe. “One cannot preach institutional independence while exercising direct operational control over the same institution. Institutions cannot be independent only when it is politically convenient and subject to presidential directives whenever controversy arises. That is not institutional autonomy; it is executive control disguised as independence,” he stated. Atiku further argued that the President had created a constitutional and moral obligation to exercise similar authority in the case involving El-Rufai. “Having now demonstrated that he can issue direct operational directives

to anti-corruption agencies whenever he considers it expedient, President Tinubu owes Nigerians an explanation as to why he cannot exercise the same authority in the case of Mallam Nasir El-Rufai. “If he can direct the EFCC to discontinue its action today, then he cannot pretend to be powerless over the actions of the ICPC tomorrow. Executive power cannot be invoked selectively for political convenience while institutional independence is cited only when it suits the Presidency,” Atiku added. He also questioned why the EFCC initiated such a far-reaching action against an opposition-controlled state on the eve of a governorship election. “The unanswered questions remain: who authorised the freezing of the account of an opposition-controlled state just days before a governorship election, and why was such an extraordinary action taken at such a politically sensitive moment? “Nigerians deserve answers. Democracy is not measured by the ability to reverse an injustice after public outrage; it is measured by the discipline to prevent such injustice from occurring in the first place,” he said.

ADC Queries Tinubu’s Court Order Claim

Also reacting, the African Democratic Congress (ADC) welcomed the President’s directive reversing the freezing of the Osun State Government’s accounts but questioned his repeated reference to an alleged court order authorising the action. In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the President’s explanation had opened up fresh questions about the circumstances surrounding the EFCC’s action.

“What we find most curious about the statement is the President’s repeated reference to an alleged court order authorising the freezing of the Osun State Government’s accounts. “This is a remarkable new twist. In all of its public statements on this matter, the EFCC never once claimed that it had obtained a court order. The Commission consistently defended its actions on the basis of its statutory powers and what it described as its preventive mandate. “At no point did it inform Nigerians that a court had authorised its actions,” the ADC said. The opposition party asked where the President obtained information about the alleged court order. “The obvious question, therefore, is: where did the President obtain the information that a court order existed? “If such an order exists, why was it never mentioned by the EFCC in its statement while defending one of the most controversial actions it has taken in recent times? “If no such order exists, why would the President introduce one into the public narrative? It is either the President was misinformed or he had chosen to misrepresent the facts. Either possibility is deeply disturbing,” the party stated. The ADC further argued that Tinubu’s public admission that he had directed the EFCC to discontinue its action undermined repeated claims that anti-corruption agencies operated independently of the Presidency. According to the party: “If the President possesses the authority to direct the EFCC to withdraw from court proceedings because the political consequences may affect an election, then it follows that he possesses the authority to direct the Commission in other operational matters as well. “The net implication is that the

and support received since his passing, while requesting privacy as it mourns the loss. Quoting Revelation 14:13, the family said: “Blessed are the dead which die in the Lord, that they may rest from their labours; and their works do follow them.” It added that details of the funeral and Christian burial arrangements would be announced in due course. carefully cultivated argument that these agencies operate entirely independently collapses under the weight of the President’s own statement.” The party also described as unusual the President’s decision to personally sign the statement instead of issuing it through the Presidency or one of his official spokesmen. It maintained that the reversal followed sustained public outrage and urged Tinubu to similarly direct the ICPC to stop opposing the bail application of former Kaduna State Governor, Nasir El-Rufai if public interest was indeed the guiding principle.

Adeleke Sues EFCC, Demands N2bn Damages

Meanwhile, Adeleke has dragged the EFCC before the Federal High Court in Abuja, seeking N2 billion in exemplary and aggravated damages over what he described as the unlawful freezing of the Osun State Government’s Federal Statutory Allocation Account. The suit, marked FHC/ABJ/ CS/1763/2026, was instituted by the governor alongside the Attorney General and Accountant General of Osun State against the EFCC, its Chairman and First Bank of Nigeria Limited. Through a legal team led by Prof. M. T. Adekilekun (SAN) the plaintiffs are asking the court to determine whether the anti-graft agency possesses the constitutional or statutory authority to freeze, block or place a post-no-debit restriction on a state’s statutory allocation account without first obtaining and serving a valid court order. The plaintiffs are also seeking a Continued on page 29

THISDAY • FRIDAY, AUGUST 7, 2026

NEWS

ICPC BRIEFING...

Special Adviser to the President on Media and Public Communication, Sunday Dare (L) with the Chairman, Independent Corrupt Practices and Other Related Offences Commission(ICPC), Dr, Musa Adamu Aliyu (SAN) addressing the State House Press Corps shortly after meeting with President at the Presidential Villa, Abuja, yesterday PHOTO: GODWIN OMOIGUI

Nigeria Must Unite to Lead Africa’s Renaissance, Utomi Tells Politicians Says personal ambitions, political narcissism threaten Nigeria’s destiny and Africa’s future As Galadima blames Electoral Act for opposition primary crises, urges aggrieved aspirants to embrace reconciliation NDC inaugurates reconciliation panel as Cleopas declares 2027 mission ‘bigger than individual ambitions’

Sunday Aborisade in Abuja

opportunities, the continent continued to be perceived internationally as a region of instability and missed opportunities. Recalling his recent interactions with global policymakers and investors in Geneva, he said many influential investors still doubted Africa’s investment readiness because of weak infrastructure and persistent political instability. He said, “I recently reminded an international audience that 12 individuals in California control more capital than the entire African continent. “One respected British investment banker argued that Africa lacks

the infrastructure to absorb major investments. “But rather than seeing that as a setback, we should see it as an opportunity. If that capital is invested in developing Africa’s infrastructure, this continent, with its vast natural resources and youthful population, will become the future of global economic growth,” he said. Utomi disclosed that in collaboration with the African Export-Import Bank (Afreximbank) and in his capacity as Chairman of the African Union Private Sector Pan-African Trade and

FAKE AGENCY: ICPC ABSOLVES GBAJABIAMILA, SEEKS ADEYEMI’S PROSECUTION

declaration that the action of the EFCC was unlawful, unconstitutional, ultra vires and of no legal effect. Among the reliefs sought are an order nullifying the freezing directive issued by the EFCC on August 5, compelling First Bank to immediately remove all restrictions placed on the account, and perpetual injunctions restraining both the commission and the bank from taking similar action in future except in accordance with due process. The plaintiffs further prayed the court to award N2 billion as exemplary and aggravated damages for what they described as the unlawful interference with public funds meant for the administration of the state. No hearing date has yet been fixed.

Chairman of the National Reconciliation Committee of the Nigeria Democratic Congress (NDC), Professor Pat Utomi, on Thursday challenged Nigeria’s political class to abandon personal ambitions and partisan bitterness in favour of national unity, declaring that the country must reclaim its historic responsibility of leading Africa’s political and economic renaissance. Utomi warned that Nigeria could not inspire confidence across Africa or attract the investments required for continental transformation if its political leaders remained consumed by personal rivalries and what he

Private Partnership. He explained that the suspect also changed the name of the PFIPC to the Presidential Foreign Intervention Promotion Council in an apparent attempt to broaden its mandate and encroach on the responsibilities of legitimate government institutions. The ICPC chairman further revealed that investigators identified collaborators whose acts of negligence or omission facilitated the activities of the fake agency. According to him, officials linked to the Office of the Secretary to the Government of the Federation, Office of the Head of the Civil Service of the Federation, Office of the Accountant General of the Federation, Budget Office and the National Information Technology Development Agency (NITDA) were identified during the investigation. Aliyu said the commission recommended the prosecution of Adeyemi, administrative sanctions against public officials whose negligence aided the operation of the fake agency and comprehensive institutional reforms to strengthen internal controls across Ministries, Departments and Agencies. “We recommended that Adeniyi Adeyemi should be prosecuted. We

described as “political narcissism.” The presidential candidate of the African Democratic Congress (ADC) in the 2007 general election spoke in Abuja shortly after the inauguration of the NDC National Reconciliation Committee. The renowned political economist said the assignment before the committee extended far beyond resolving disputes arising from the party’s congresses, convention and primaries. He insisted that it was fundamentally about building a political culture capable of rescuing Nigeria and repositioning Africa. “I feel humbled and challenged by this assignment because I know that

also recommended administrative sanctions against public officers whose acts of omission and negligence facilitated the illegal operation of the fake PFIPC because our investigation found that some public officers failed to carry out due diligence and comply with established procedures. “We also recommended institutional reforms to strengthen internal controls across MDAs to prevent similar occurrences in future,” he pointed out. Also speaking, the Special Adviser to the President on Media and Public Communications, Mr. Sunday Dare said Tinubu would study the interim report and consult the Attorney General of the Federation before deciding on the next course of action. According to Dare, the President directed that the findings be made public in the interest of transparency, while investigations by the National Assembly, the Nigeria Police Force and other relevant agencies would complement the process. Meanwhile, the Corps Marshal of the Federal Road Safety Corps (FRSC), Shehu Mohammed, disclosed before the House of Representatives Ad Hoc Committee investigating the matter that

the future of our country rests on it in very many ways, more than we immediately imagine,” Utomi said. He stressed that Nigeria’s political elite must begin to appreciate the enormous responsibility history had placed on the country as Africa’s most populous nation. According to him, reconciliation among party members should not merely be viewed as an internal political exercise but as a necessary step towards creating the kind of stable leadership capable of driving economic development across the continent. Utomi lamented that despite Africa’s abundant natural resources, youthful population and vast market

Tinubu was listed as Chairman of the Governing Board of the fake agency on its website. He said the website also listed the Secretary to the Government of the Federation, the Head of the Civil Service of the Federation, the Governor of the Central Bank of Nigeria, the Attorney General of the Federation and several ministers as members of the purported governing board. Mohammed explained that the fake website, together with what appeared to be authentic government correspondence and successful verification of statutory payments through the REMITA platform, misled the FRSC into issuing official number plates for seven vehicles belonging to the organisation. “It is important to note that the requests were made using what appeared to be the official letterhead of a federal government agency. “As part of the verification process, the requests were personally delivered by Prince Adeniyi Adeyemi, who presented himself as the director general. In addition, the Corps visited the official website indicated in the correspondence. The website bore a federal government domain and contained information consistent

with that of a legitimate federal government institution,” he stated. The Corps Marshal admitted shortcomings in the commission’s verification process, describing the incident as an isolated case, and disclosed that the FRSC had commenced steps to recover all official number plates issued to the fake organisation while strengthening its internal verification mechanisms. However, Chairman of the House Ad Hoc Committee, Hon. Yusuf Gagdi, faulted the FRSC for failing to detect what he described as glaring irregularities in the documents presented by Adeyemi, noting that it was abnormal for the President to serve as chairman of the board of such an organisation alongside virtually all key federal officials. The documents tendered before the committee indicated that seven vehicles approved for registration included a 2024 black Lexus LX armoured vehicle, two 2024 Toyota Land Cruiser models, a Toyota Hilux GR and three Toyota Hilux Adventure vehicles. Mohammed maintained that all chassis numbers were physically verified and matched the respective vehicles before the official federal government number plates were issued.

Investment Committee, efforts were already underway to project what he described as “a new narrative for Africa.” According to him, the global conversation about Africa often ignores the achievements of the continent’s entrepreneurs, innovators and young people who are quietly driving economic transformation. He urged political leaders to create an environment that allows those talents to flourish rather than stifle them through endless political conflicts.

IN DEFT MOVE, TINUBU DIRECTS EFCC TO UNFREEZE OSUN ACCOUNT

Background to Dispute

The controversy began after the EFCC directed First Bank to place a post-no-debit restriction on Osun State Government’s statutory allocation account as part of an ongoing investigation into the alleged diversion of about N11 billion in Ecology Funds, Intervention Funds and Federal Allocation Account Committee (FAAC) receipts. Explaining its action, the anti-graft agency said investigations, which commenced in March 2026, initially did not warrant freezing the account until investigators observed what it described as suspicious movements

of large sums of money from the state’s account into several corporate entities beginning August 2. According to the commission, the restriction became necessary to prevent further depletion of public funds while investigations continued. Adeleke, however, rejected the explanation, describing the action as an abuse of the rule of law and insisting that the EFCC lacked the constitutional powers to freeze a state’s statutory allocation account. He challenged the Chairman of the commission, Mr. Ola Olukoyede, to publicly justify the action, while directing the state’s Attorney General to immediately institute legal proceedings. The Osun State Attorney General and Commissioner for Justice, Mr. Oluwole Jimi-Bada (SAN) similarly argued that neither the Money Laundering (Prevention and Prohibition) Act nor the EFCC Act empowers the commission to interfere with a state’s statutory allocation account. He stressed that the funds are meant for salaries, pensions, healthcare, education, security and other essential public services. Jimi-Bada maintained that while the state remained committed to transparency and lawful investigations, any restriction on constitutionally protected public funds must comply strictly with due process and be sanctioned by a competent court.

FRIday August 7, 2026 • T H i s d ay

ASUSS Raises Concerns over WORLD OF ISLAM Attacks on Schools, Urges Govt 5 Moments the Quran Understood Your to take Proactive Measures Struggles Better Than Anyone Else

NEWS xtra

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Ibrahim Oyewale in Lokoja

The Academic Staff Union of Secondary Schools(ASUSS), Kogi State chapter, has expressed serious concern over the persistent attacks on schools and educational communities in the country and the state in particular. This was contained in a communique issued by the Executive Council(EC) of the ASUSS and copy of which was made available to journalists in Lokoja yesterday, lamenting that that schools are centres of learning and should never

become targets of criminal activities. The council therefore, called on government and all security agencies to strengthen security around schools through proactive intelligence. The council, however, commended the Kogi State Government under the leadership of the Governor Usman Ododo, for its sustained efforts in improving security across the state and for maintaining a cordial relationship with the workforce. “We acknowledge the government’s commitment

to industrial harmony and appreciate the steps taken to promote the welfare of workers. “The council also passionately appeals to the Kogi State Government to restore the payment of the 27.5 per cent Teachers’ Special Allowance (TSA) to secondary school teachers. This allowance was a product of a duly negotiated Collective Bargaining Agreement between ASUSS and the Government and served as recognition of the peculiar demands of the teaching profession.

NAFDAC Flags Unregistered Menopause Supplement, Warns of Potential Health Risks

Ayodeji Ake

The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a nationwide public alert over the sale and distribution of an unregistered menopause supplement, Menofix Capsules, warning Nigerians not to purchase or use the product as it is being removed from the market. The agency said the product, marketed by PureEve as a hormone-free

herbal and multivitamin supplement for women experiencing perimenopause and menopause, is not registered with NAFDAC despite being widely advertised and sold through online platforms and retail outlets across the country. NAFDAC explained that the alert followed a complaint concerning the sale of the product and reports of possible liver-related adverse effects associated with some of its ingredients. Following investigations,

the agency confirmed that Menofix Capsules has never been registered by NAFDAC and is therefore not authorised for sale, distribution or use in Nigeria. The regulator also cautioned consumers not to confuse the unregistered product with two legitimately approved products bearing similar names — Menofix Herbal Capsule (NAFDAC Registration No. A7-103321L) and Menofix Powder, both of which are duly registered with the agency.

EU, PLAC Urge Youths to Push for Transparent, Accountable Institutions Onyebuchi Ezigbo in Abuja The Programme Manager and Governance Adviser for Democracy, Rule of Law, and Gender of the European Union Delegation to Nigeria, Laolu Olawum,i has enjoined young Nigerians to demand transparency and accountability from democratic institutions at all levels in the country. Also the Policy and Legal Advocacy Centre (PLAC) reminded some youths that concluded legislative internship programme at the National Assembly to endeavour to put the leadership skills and knowledge they gained to

good use by contributing to the development of the country. Speaking at the Model Legislative Assembly Session organised by PLAC with support by the European Union Support to Democratic Governance Programme, Olawumi said that Nigeria’s democracy will only consolidate if young Nigerians insist on transparent, accountable institutions at every levels. She challenged the interns to ensure that they utilize the knowledge and experience gained during the programme to continue to hold institutions accountable even they aspire

for future leadership role. She noted that Nigeria’s democratic resilience matters for Nigerian citizens and for the region and the world at large. Olawumi said: “This internship is not about producing future politicians. It may well be about that, but it’s not just all about that. It is about forming citizens who understand governance and how to engage it. “Nigeria’s democracy will only consolidate if informed, principled young Nigerians like you insist on transparent, accountable institutions at every level, she said.

Afikuyomi Commends Tinubu’s Directive on Osun Accounts

Sunday Ehigiator

Legal practitioner and Principal Partner at Liberty Semper Fidelis LP, Mr. Tokunbo Afikuyomi, has commended President Bola Tinubu’s directive to the Economic and

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Financial Crimes Commission (EFCC) to return to court and seek the discharge of the order freezing the accounts of the Osun State Government, describing it as a demonstration of commitment to electoral fairness and constitutional governance. In a statement issued yesterday, Afikuyomi said the president’s intervention came at a time when public confidence in the neutrality of state institutions was under scrutiny, noting that the decision underscored the need for elections to be not only free and fair but also perceived as such by Nigerians. He argued that by directing the EFCC to approach the

court instead of pursuing any extra-judicial solution, the president had respected the constitutional process governing judicial orders. According to him, while the president’s objective of protecting the credibility of the forthcoming Osun State governorship election deserves commendation, it must be pursued within the framework of the constitution. According to him, “The directive issued today (yesterday) by President Bola Ahmed Tinubu instructing the Economic and Financial Crimes Commission (EFCC) to return to court and seek the discharge of the order freezing the accounts of the Osun State Government deserves commendation.”

Al-Furqaan Foundation/IslamiCity You’re lying in bed at 2 a.m., doomscrolling through your phone, your thumb swiping through videos, images, and feeds on every social media platform that you have. You switch between Instagram, TikTok, Facebook, you’ve checked every message twice, and when you finally lock your phone and put it next to you on the bed with your eyes trained up to the ceiling, something doesn’t feel right. You feel empty. That emptiness is causing your heart to feel restless. It could be the guilt from missing out on your prayers because you’ve been attached to your phone, or maybe you’ve been slipping into things you once promised yourself you wouldn’t do. Or, it could also be the overwhelming pressure to look perfect, succeed, be liked, or just to become something. You feel like you’re trying to hold onto your faith, but the grip is just getting weaker. If you’ve found yourself feeling like this and in this situation one too many times, this article is for you. Many young Muslims today are navigating a world that celebrates everything but faith. Modesty feels outdated, and questioning your identity has become the norm. Even within a Muslim friend’s circle, a person who is holding firmly onto their deen may be taunted as being someone who is “too religious.” The pressure is a real thing. Loneliness is also a real feeling. The doubts, the temptations, the confusion, it hits you like a train sometimes. But what if, in the middle of all that noise, you opened The Quran, and it spoke directly to you? The Quran wasn’t meant just for our elderly to read throughout the day, and nor was it made for the super righteous Muslims who “have it all together” in your eyes. Right now, The Quran is waiting for you in your confused, imperfect, and exhausted state where you are desperately searching for meaning in life. In this article, we’re going to list five powerful verses from The Quran that can reshape your perspective and reignite your connection with Allah (SWT). These verses highlight struggles, hopes, and challenges that are affecting today’s youth. They remind you that you are not too far gone, you are not too young to begin this spiritual journey, and you are definitely not alone in your struggles. If you’re ready to reconnect, and to rediscover your purpose and find words in the peace of your Creator, this is your sign to start here! Let these verses turn your life around for the better.

1. The blueprint for the best character

Allah (SWT) says in Surah Luqman Q31:17, “O my dear son! Establish prayer, encourage what is good and forbid what is evil, and endure patiently whatever befalls you. Surely this is a resolve to aspire to.” In this verse, Luqman, a wise and righteous man guided by Allah (SWT), is giving advice to his son on characteristics that define what it means to be a believer. These characteristics would become so important that Allah (SWT) mentioned them in The Quran for us to act upon. This is a foundational roadmap for the youth of today for the following three reasons: •Establishing prayer builds a personal relationship with Allah (SWT) that grounds you in faith and purpose. •Having the courage to stand up for what is right even if the majority of the population may not agree with it. •Always practice sabr because life will test you through hardship, rejection, and failure, but patience is your strength.

2. You are the heroes of our deen!

In Surah Al-Kahf Q18:13, Allah (SWT) says, “We relate to you O Prophet their story in truth. They were youths who truly believed in their Lord, and We increased them in guidance.” The story of the People of the Cave (Ashab al-Kahf) is one of the most powerful narratives of youthful courage in The Quran. These young men resisted the corruption of their society

and chose faith over conformity. Their story teaches us: •You’re never too young to stand up for your beliefs. •True guidance increases when you take a sincere step towards Allah (SWT). •You might feel isolated, but Allah (SWT) is always aware of your sacrifice.

3. Be mindful of what you follow

Allah (SWT) says in Surah Al-Isra Q17:36, “Do not follow what you have no sure knowledge of. Indeed, all will be called to account for their hearing, sight, and intellect.” In today’s world, information is everywhere thanks to technology. However, the truth often gets buried in the latest reel and carousel posts that express a new Islamic mindset to follow. This verse is calling on young Muslims to be conscious consumers of knowledge through social media. •Don’t share pieces of information that you have not verified. •Guard your senses because what you watch and hear has a direct impact on your soul. •Know that whatever choices you’re making on social media is being watched and documented by Allah (SWT) to reveal on Judgment Day.

4. This dunya is nothing but an illusion!

Allah (SWT) says in Surah Al-Hadid Q57:20, “Know that this worldly life is no more than play, amusement, luxury, mutual boasting, and competition in wealth and children. This is like rain that causes plants to grow, to the delight of the planters. But later the plants dry up and you see them wither, then they are reduced to chaff. And in the Hereafter there will be either severe punishment or forgiveness and pleasure of Allah, whereas the life of this world is no more than the delusion of enjoyment.” This verse shows us the temporary nature of life’s pleasures and distractions. The Quran speaks to the youth directly here, warning against becoming absorbed by what’s shiny but shallow. •Entertainment, social media, fashion, and competition aren’t really what’s going to get us into Jannah. •If you live only for likes, status or material success, you’re chasing what fades. •Real joy and meaning come when you align your heart with the eternal, and not the fleeting.

5. Keep striving and never give up because Allah (SWT) is with you

Allah (SWT) says in Surah Al-’Ankabut Q29:69, “As for those who struggle in Our cause, We will surely guide them along Our Way. And Allah is certainly with the good doers.” Trying to stay on the right path isn’t always an easy task, and it was never meant to be an easy task. Our youth often struggle with prayer, discipline, or letting go of sin. This verse offers powerful hope and motivation because: •Allah (SWT) doesn’t expect perfection, he just asks to see if we’re making effort on our part to better ourselves. •When you sincerely strive, He promises to guide you, step-by-step. •There are many paths to Allah (SWT), and He walks with those who walk toward Him. Many people think that being a youth is just a “phase” of life, but actually, it’s laying the foundation of your future. It’s the time to shape your values, strengthen your heart, and discover your purpose. These five verses provide exactly what every young Muslim needs, which is a moral compass, a sense of purpose, and a relationship with Allah (SWT). If you are a young Muslim searching for direction, struggling to stay consistent in your faith, or feeling overwhelmed by the world, start with these verses! Reflect on them. Let them find a home in your heart. Discuss your reflections about them with your friends, but most importantly, live by them. Because The Quran isn’t a book you read in the 30 days of Ramadhan and then put it back on your shelf to collect dust. This is a gift from Allah (SWT) that is meant to transform you, so let its light reach your heart today, InshAllah!

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Osimhen Rejects Number 9 Jersey, Sticks to 45 at Galatasaray Victor Osimhen has turned down an offer by the management of Turkish champions Galatasaray for him to wear jersey No 9 now vacated by Mauro Icardi, who has left the club. Turkish Sabah newspaper reported yesterday that Galatasaray executives presented Osimhen with a new jersey with his name and a new number of 9. However, the striker said he would rather stick with the jersey No 45, which he has worn since his joined the Turkish giants. He said that jersey has brought him luck. “I expect that you will sell more jerseys, but I think you will understand me. Number 45 brought me luck at Galatasaray. I want to continue with the same jersey,” he told the club bosses. Osimhen’s association with the number 45 goes back to the early stages of his career. The Nigerian striker first wore the number 45 shirt at Belgian club Charleroi, where he scored 20 goals, marking his breakthrough in European football. The star player, who later preferred the number 7 jersey at Lille and the Number 9 at Napoli, returned to the number 45 after transferring to Galatasaray. The fresh jersey row appears to have put to rest all speculations about his potential move away from the Turkish giants this summer transfer window. Galatasaray consider Osimhen as “untouchable”, while coach Okan Buruk has built his team for the new season around the striker. However, Osimhen has maintained that his future is with the 26-time Turkish champions. “Galatasaray is my family and I am very happy here. We have a very special bond. I’m not going anywhere. My only thought is to make our fans happy again…” he insisted.

Amstel Malta Hails Falcons on Victory over Egypt, Urges Focus on Cameroon Test Amstel Malta has congratulated Nigeria’s Super Falcons on their commanding 6-2 victory over Egypt, describing the performance as a fitting reward for the team’s resilience and determination after a difficult start to their 2026 Women’s Africa Cup of Nations (WAFCON) campaign. The cup holders produced an attacking master-class to seal their place in the quarter-finals, where they will face familiar rivals Cameroon. The result completed an impressive turnaround for the Super Falcons, who bounced back from an opening defeat to Malawi with consecutive victories over Zambia and Egypt to book their place in the knockout stage. Amstel Malta also celebrated the contribution of its brand ambassador, Asisat Oshoala, who opened the scoring from the penalty spot, setting the tone for Nigeria’s dominant display. Goals from Gift Monday, Uchenna Kanu, Christy Ucheibe, captain Rasheedat Ajibade and Joy Omewa completed an emphatic win. Reacting to the performance, Senior Brand Manager, Amstel Malta, Francis Obiajulu, commended the players for their character and commitment. “We congratulate the Super Falcons on a fantastic victory and qualification for the quarter-finals.

2026 WAFCON

Asisat Oshoala The way the team responded after the opening setback reflects the spirit of champions. They have shown resilience, unity and belief, and Nigerians are proud of what they have achieved so far.” Obiajulu also commended Oshoala for once again leading from the front. “We are delighted to see our brand ambassador, Asisat Oshoala, among the goals again. Her experience, leadership and consistency continue to inspire the team and millions of football fans across the country.”

Embattled Infantino Over Plan to Shooting Stars, El Kanemi Warriors Handed Apologises Sell FIFA Brand to Investors Victor Osimhen..sticks with jersey number 45

First Preliminary Round Opponents Nigeria’s two representatives in the CAF Confederation Cup, Shooting Stars of Ibadan and El Kanemi Warriors of Maiduguri were handed opponents in the draw made yesterday for the First Preliminary Round opening legs to be played from September 4th to 6th , with the return matches scheduled for September 11th to 13th. All the 56 competing clubs learned their path to the Group Stages at the draw yesterday. The teams will begin their pursuit of one of African football’s most prestigious trophies and the USD 4 million prize awaiting the eventual champions. Clubs eliminated during the preliminary stage will each receive a USD 100,000 solidarity payment from CAF to assist with travel and other logistical costs.

C A F C O N F E D E R AT I O N C U P Shooting Stars who will play their continental matches at the Remo Stars Stadium in Ikenne will kickoff their campaign against Tunisia’s CS Sfaxien home and away in the first preliminary round. If the Oluyole Warriors succeed in advancing against CS Sfaxien, they will meet either AF Amadou Diallo of Côte d’Ivoire or Sierra Leone’s East End Lions in the second preliminary round. Similarly, Nigeria’s other representatives in the CAF Confederation Cup, El Kanemi Warriors of Maiduguri have been scheduled to play UDIB of GuineaBissau in the first preliminary round. If the Warriors from Borno succeed, they will face stiffer challenge in Morocco

giants Raja Casablanca in the second preliminary round. Raja were drawn bye in the first round. The Second Preliminary Round will begin from October 16th-18th, before the decisive return legs are staged from October 23rd-25th. Continental giants Al Ahly will face either Somali or Ugandan opposition after the draw for the first two Preliminary Rounds in the TotalEnergies CAF Confederation Cup 2026/27 was made on Thursday. Among the most eye-catching potential ties is 12-time TotalEnergies CAF Champions League winners Al Ahly’s clash with either Mogadishu CC

from Somalia or Kitara FC of Uganda. They will await to see who wins that First Preliminary Round tie. Defending champions USM Alger have been handed a bye and will enter against either The Panthers FC of Equatorial Guinea or Benin’s ASPAC FC. The Algerian giants claimed their second TotalEnergies CAF Confederation Cup crown last season and will be among the leading contenders as they seek to defend the title. Moroccan heavyweights AS FAR will meet either Chad’s AS PSI or Côte d’Ivoire’s CO Korhogo. The eight highest ranked clubs have received byes into the Second Preliminary Round, while the other 48 teams will contest 24 two-legged ties in the opening stage.

Under-fire FIFA President Gianni Infantino has apologised for trying to sell off stakes in the World Cup to private investors, promising that it will not happen again. Late Wednesday, FIFA sent out a letter – signed by Infantino and general secretary Mattias Grafström – to all members associations. “The Secretary General and the Executive Board confirm their full support for FIFA President Gianni Infantino, as the sole representative elected by FIFA’s 211 member associations,” it read, among other things. They also apologised for plans to sell World Cup shares to private investors. “We sincerely apologise for these mistakes and promise that they will not happen again. With this in mind, we will conduct the necessary review,

and a report will be presented to the FIFA Council at its next scheduled meeting.” FIFA then released an official statement in which Infantino also admitted that the plans were a mistake, but also counterattacks: “With the project withdrawn, it was agreed that FIFA will no longer tolerate any attacks on its integrity, good governance and the rule of law, and that it will take all necessary measures to protect and preserve its name and reputation,” part of the statement read. Meanwhile, the European football union, UEFA, have maintained that they are not backing off on their decision to withdraw from all FIFA competitions until all their conditions are met following a failed attempt by FIFA to sell off stakes in the World Cup to private investors.

Okocha, Jafaru, Others Shine in an Unforgettable ‘Chaos in the Ring’ Chaos in the Ring returned to the Balmoral Convention Centre, Federal Palace Hotel, Victoria Island, Lagos, on Friday, July 31, delivering another thrilling night of elite boxing, celebrity rivalries and breakout performances that reinforced the platform’s growing reputation as one of Africa’s leading boxing and sports entertainment events. The evening featured a mix of professional contests and headline

celebrity bouts, with Charles Okocha, Basit “Joker Boy” Adebayo, Yusuf Adeniji, Suleiman Jafaru, Michael Babalola and Shiloh “Sugar Shy” Defreitas emerging among the night’s biggest winners. The headline celebrity rematch between Portable and Charles Okocha, tagged “Unfinished Business,” ended in dramatic fashion after Portable was disqualified for leaving the ring before the conclusion of the opening round.

The contest briefly descended into chaos following a heated exchange between both fighters before security officials restored order. Although Portable later returned to the ring, officials upheld the decision and awarded victory to Charles Okocha. The night’s other celebrity contest saw music stars Mr. Real and Idowest battle through five entertaining rounds before judges declared the bout a draw.

The closely contested encounter drew loud reactions from fans inside the arena, with Idowest insisting he had done enough to secure victory. Following the result, organisers announced an official rematch scheduled for October 1. Away from the celebrity spotlight, the professional fighters once again demonstrated why they remain at the heart of the Chaos in the Ring platform.

One of the standout performances of the evening came from Basit “Joker Boy” Adebayo, who stopped Said Mohamed Hassan in the second round after dominating the contest from the opening bell. Speaking after the victory, an elated Adebayo said: “First of all, I want to thank Allah. I didn’t know round two was the round. I promised him round five. I prepared for this fight, and I was determined to face

off with him.” The rising boxer also declared his ambitions for the future. “I’m ready to be the face of Nigeria. I think I am currently the face of boxing in Nigeria.” In another impressive display, Yusuf Adeniji defeated Rilwan Lawal by unanimous decision in their super-featherweight contest, with the judges scoring the bout 79-72, 78-73 and 78-73 in his favour.

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HIGH LEVEL INTER-AGENCY MEETING TO STRENGTHEN EARLY WARNING...

L- R: Programme Management Officer, United Nations Office for Disaster Risk Reduction (UNDRR), Mr. Muliro Mashauri; Director General, Nigerian Hydrological Services Agency (NIHSA), Alhaji Umar Ibrahim Mohammed; Director General, National Emergency Management Agency (NEMA), Mrs. Zubaida Umar; Executive Vice Chairman, Nigerian Communications Commission (NCC), Dr. Aminu Maida; and Director General, National Space Research and Development Agency (NASRDA), Dr. Matthew Adepoju during a High-level Inter-Agency Meeting on Early Warning for All (EW4All) Initiative held at the NEMA Headquarters in Abuja on Wednesday

AKINOSUNTOKUN The Leadership –Followership Debate DIALOGUE WITH NIGERIA

was recently invited to contribute my perspective on a conversation between two brilliant submissions on the primacy and priority of leadership or followership in Nigeria. I have not come across a more comprehensive and fulsome debate on this topic hence my decision to lay it before the Nigerian audience. After presenting the two opinions, I will then offer my own paradigm. Here we go:

The leadership perspective “Everything else, citizenship, innovation, resilience, multiplies or diminishes based on that one variable, Leadership “Let me illustrate”. “Take the Abia power project. The foundation was laid as far back as 2004 by Barth Nnaji and commissioned in 2014. Yet for nearly a decade, it remained dormant. It was not until 2024, when Alex Otti assumed office, that decisive leadership engaged regulators, secured gas supply, and unlocked the project within months. The contrast is stark: eight years of inertia under previous Governor Ikpeazu followed by eight months of execution under Alex Otti. The variable that changed was not the people; it was leadership. The same pattern played out in Lagos under Babatunde Fashola. Governance improved, systems worked, and citizens responded positively, even voluntarily complying with taxation because they could see results. Nigerians are not allergic to responsibility; they are responsive to results”. *The Nigerian Paradox”: “Nigeria is not lacking in capable people. Consider Aliko Dangote and Mike Adenuga; individuals who built world-class enterprises despite systemic obstacles. Across the country, millions of small and medium-scale entrepreneurs display extraordinary resilience daily. Yet, despite this, tens of millions remain in poverty. Millions of children are out of school. Infrastructure deficits persist.” “Why? Because individual success does not translate into national development without effective governance. Dangote’s wealth cannot fix education in Northern Nigeria. Only coordinated government policy can do that. And policy effectiveness is determined by leadership quality. Answering your questions directly, when will such a leader arise? Such leaders already exist.They are visible in: the private sector, reform-driven subnational governments, certain technocratic institutions. The issue is not absence, it is selection failure. Too often, competence is sacrificed on the altar of ethnicity, religion, and patronage”. “How do we get such leaders? By fixing the incentive structure of leadership recruitment.The elite; political, economic, and social, must shift from: supporting loyalty, rewarding patronage to: Backing competence Prioritizing integrity. Enforcing accountability. Until the system rewards merit over mediocrity, outcomes will not change. Where will the leader come from? Yes- from current followers. But not all followers become leaders. Leadership must be deliberately filtered and elevated. At present, the entry bar into leadership is dangerously low. For example, the minimal educational requirement for the presidency is primary school education. This sends the wrong signal

President Bola Tinubu about the seriousness of governance.” “Final Thought” “There is no “Nigerian way” to development, just as there is no Nigerian way to fly a plane.You either follow the proven principles that make systems work, or you crash. Until we prioritize leadership built on discipline, competence, and integrity, we will continue to recycle failure, no matter how hardworking or resilient our people are. Leadership is not just a factor in nation building. It is the decisive factor”.

Response (The followership perspective) “I receive and respect your argument with the seriousness it deserves. Few have stated the case for leadership as decisively as you have. On much of it, we are not in disagreement. Leadership matters. Profoundly. Where governance is broken, even the best citizens are forced to perform on a collapsing stage. I concede that point fully. Otti’s Abia and Fashola’s Lagos are real, and they are instructive”. “But permit me to press back, respectfully but firmly. Leadership and citizenship are not rival forces in nationbuilding. They are not even unequal partners locked in hierarchy. They are co-authors of the same outcome, and history bears me out. Consider the very models you invoke: Singapore, South Korea, Taiwan, China. Lee Kuan Yew did not transform Singapore alone. He transformed it with a citizenry that accepted discipline, embraced education, and met his demands with sweat. Park Chung-hee’s Korea worked because Koreans showed up, generation after generation, to honour the social contract leadership offered them. Even your own example, Fashola’s Lagos, succeeded precisely because Lagosians responded; they paid taxes voluntarily, as you yourself noted. That response was not incidental. It was constitutive”. “A leader without a responsive citizenry is a candle in our Lagos 7-day rain. A citizenry without responsive leadership is wasted potential. Neither rises without the other. And this brings me to a truth we must say plainly,

akin.osuntokun@thisdaylive.com

with gratitude. Long before the proverbial leader arrives, Nigerians have been building Nigeria. Aliko Dangote did not wait. Abdul Samad Rabiu did not wait. Tony Elumelu did not wait. Jim Ovia did not wait. Afe Babalola did not wait. Mike Adenuga did not wait”. “They lit candles where governments could not, would not, or did not. Cement, sugar, banking, telecoms, education, energy, philanthropy, these are not gifts handed down by visionary presidents. They are monuments raised by citizens who refused to be paralyzed by the absence of one. And behind them now stands a younger generation lighting their own candles. Our founders in tech, building fintechs and platforms that have put Nigeria on the global map. Our bankers reimagining finance for a digital economy. Our musicians, filmmakers, and creatives carrying the Nigerian story to every corner of the earth, Afrobeats, Nollywood, fashion, content. Our food entrepreneurs reshaping how a continent eats. Our farmers, our teachers, our nurses, our small business owners. These are not bystanders waiting for rescue. These are nation-builders already at work”. “We owe them gratitude. Loud, unembarrassed gratitude. Because they have proven, with their lives, the very point I am making: nation-building cannot be outsourced to one man at the top. It is the daily, deliberate work of citizens who refuse to surrender. This is why I cannot, in good conscience, wait for the miracle leader to descend before doing my own work. To wait passively is to abdicate. While we reform the recruitment of leaders, a cause I support without reservation, we must simultaneously be raising the citizens who will demand them, vote for them, defend them, and respond to them when they arrive”. “And here lies my deepest concern. We are outsourcing too much. We are outsourcing the discipline of our homes to the government. We are outsourcing the education of our children to a system we know is broken. Yes, my brother: Demand better leadership, loudly, relentlessly. But raise better citizens, quietly, daily, in your home This is why I have insisted, and will continue to insist: pending when the leader emerges, we keep lighting candles instead of cursing the darkness. Not because the darkness is acceptable, it is not, but because a nation of candle-lighters is precisely the soil from which true leaders grow”. “*Leadership is decisive*. *Citizenship is foundational*. Nation-building belongs to those who refuse to surrender either. We move forward, together. NIGERIA will rise better when Nigerians rise!”

My Intervention The Followership-Leader-Organising Principle Triad Let me add the third perspective on the leadership - Followership Debate -a nation can exist with bad leadership but no society can endure without a constitution, the organising principle laws, rules and regulations-elements that make a thing what it is and without which it would not exist (elements that make Nigeria what it is, and without which it would not exist). This is what regulates the interaction amongst the citizens and determines how the leadership emerges from among the citizens. The most functional

constitution is one that is grounded on the concept of autochthony-a situation in which the constitution derives from the indigenous society. The constitution is autonomous of leadership but leadership cannot be autonomous of the constitution. This is why the constitution is notionally stipulated by “We the people”. Both leadership and followership are two sides of the same coin. Without leadership, there cannot be a followership and without followership there cannot be leadership. You cannot lead yourself nor can you follow yourself. To argue that the leadership factor is a crucial variable to the determination of the development of society amounts to platitude and tautology.There is no situation or context to which leadership is not integral, from the basic social unit of the family to the height of sociopolitical governance. No one contests this truism, what is being contested is the Superman theory of leadership. The anticipation of good leadership is more in hope than expectation. Nigeria is a peculiar case. Nigeria did not derive from the people, it was imposed on them, hence there are no foundational articles of association. A country of this nature, with large scale cultural disparities can only function by the acknowledgement of this background in its constitutive rule (as the Independence constitution did). States derive from societies not the other way round. This was the point Awolowo was making when he cited Nigeria as a ‘mere geographical expression’. Nigeria did not organically evolve from a Nigerian society or nation, the way Germany evolved from a prior German nation, England from English, Wales from Welsh. He would not be the first commentator to note the incongruity of the establishment of a state prior to its existence. The great Nigerian scholar, Claude Ake similarly argued that it is the alienness of the state in Africa — its lack of conformity with the practices of the people — that makes it inadequate for its purpose in the continent. This critical observation led Awolowo to the recommendation of federalism as of the essence, the irreducible minimum for the Nigerian state if it were to stand a chance of success. If you get the constitution right, it limits the capacity of bad leadership to harm the nation while it optimally potentiates the utility of good leadership. If you do not, then there is no basis for the expectation of good leadership. In making the case for an internally consistent constitution for Nigeria, Chief Obafemi Awolowo famously ruminates in his seminal book Path to Nigerian Freedom (1947) that because Nigeria is a multi-lingual and multi-national country, where a unitary constitution would breed intense hostility, making federalism the only viable arrangement for sustainable peace, harmony, and equitable national integration.. He remonstrates “The work of government in Nigeria under unitary constitution is bound to become unduly complex, inextricably tangled, extremely unwieldy and wasteful, and productive of disharmony and discontent,”... unless you have a Superman at the helm, “the administrative machinery would eventually disintegrate and break down under the crushing weight of bureaucratic centralism” Federalism distributes power, buffers cultural disparities, and limits harm from bad leadership.

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