Issuu

Ojulari: Competition in Downstream Petroleum Sector Will Benefit Consumers Oil output hits 1.7mbpd in 2025, gas rises above 7bcf/day Company targets 1.8mbpd in 2026, eyes $30bn investment by 2030 Deji Elumoye in Abuja Group Chief Executive

Officer of Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, on

Sunday assured Nigerians that intensifying competition within the downstream

petroleum sector will, over time, translate into tangible gains for consumers, despite

the transitional pressures currently reshaping the market.

Speaking with newsmen Continued on page 5

Atiku Warns Against ‘Forged’ Laws, Declares New Tax Act Nullity... Page 28 Monday, Monday, December January29, 6, 2025 Vol Vol29. 30.No No10865. 11222. Price: N400

www.thisdaylive.com TR

UT H

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Tinubu Closes 2027 Deal with Kano Gov, Yusuf, Concluding Plan to Join Ruling APC Kwankwaso considering options, timing

Ahmad Sorondinki in Kano

A major political shift in the

artery of the nation’s body politic is about to take place, as the Kano State Governor,

Abba Kabir Yusuf, is being prepped to join the ruling All Progressives Congress (APC),

alongside members of his New Nigeria Peoples Party (NNPP). Sources in both the NNPP

and the APC, THISDAY gathered, contended that negotiations for the huge

political swing had reached Continued on page 5

Edun to Investors, Partners over US Strikes: Nigeria Not at War Says nation remains firmly on path of peace, stability, economic progress Insists security, economic stability inseparable Kwara governor advises security agencies on collaboration, team spirit against terrorists America’s strike highlight APC’s security failures, declares Olawepo-Hashim Chuks Okocha, Ndubuisi Francis, Emmanuel Addehand Adedayo Akinwale in Abuja and Wale Igbintade in Lagos Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, yesterday, reassured investors, analysts, and multilateral partners that Nigeria was not at war, either with itself or any other nation, but was "decisively confronting, alongside trusted international partners, terrorism”. This position came in the wake of the recent air strikes by the United States against terrorist enclaves in Sokoto State. The federal government stated that rather than Continued on page 5

TINUBU DEPARTS FOR EUROPE...

L-R: President Bola Ahmed Tinubu; Deputy Governor of Lagos State, Dr. Obafemi Hamzat; Governor of Imo State, Mr. Hope Uzodimma; and Governor of Lagos State, Mr. Babajide Sanwo-Olu, at the Murtala Mohammed International Airport, Lagos, to bid the president farewell ahead of his trip to Europe, yesterday

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PAGE FIVE

Agama: Firms Raised Over N753 Billion via Commercial Paper Issuance in Five Months

Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has revealed that Nigeria’s capital market raised over N753 billion through commercial paper issuances between April and October 2025, underscoring strong investor confidence and the resilience of the market. Agama, who disclosed this in an interview, stated that the funds supported short-term financing needs across key sectors of the economy.

“Commercial paper issuance remained vibrant, with over N753 billion raised to support short-term funding needs across diverse sectors, from manufacturing to energy and agriculture,” the SEC boss said. He added that the debt market also recorded landmark transactions, including N500 billion Climate Funding Special Purpose Vehicle and N200 billion Elektron Finance bond issuance, reflecting increasing appetite for

infrastructure and sustainable finance investments. Agama explained, “These figures are not just numbers; they represent confidence in our regulatory framework and the resilience of our market architecture.” According to him, the strong performance of the commercial paper segment forms part of broader capital-raising activities approved by the commission across debt, equity and short-term instruments during the review

period. Agama explained further, “Since our last meeting, the Nigerian capital market has demonstrated remarkable depth and adaptability. Between April and October 2025, the commission approved significant transactions across debt, equity, and commercial paper segments, underscoring the market’s capacity to mobilize capital for growth. “These achievements are essential as we work to position

EDUN TO INVESTORS, PARTNERS OVER US STRIKES: NIGERIA NOT AT WAR destabilise markets or weaken confidence, such actions strengthened the foundations of peace, protected productive communities, and reinforced the conditions required for sustainable growth Edun, who gave the assurances via a statement personally signed, explained that as markets reopen today (Monday) after the Christmas festivities, "Investors can be confident that Nigeria remains focused, reform-driven, and committed to stability." In the message, titled, "Statement on Recent Security Operations and Market Implications," the minister said, "The fundamentals are strengthening, the policy direction is clear, and the resolve

of this administration—to protect lives, secure prosperity, and grow the economy—is unwavering." He stressed that the US military operation in Nigeria was precise, intelligence-led, and focused exclusively on terrorist elements that threatened innocent lives, national stability, and economic activity. He stated, "In light of recent enquiries following the targeted joint security operation by Nigeria and the US conducted in Sokoto on Christmas Day, I wish to reassure investors, analysts, and our multilateral partners that Nigeria is not at war with itself, nor with any nation. "What Nigeria is decisively confronting—alongside

trusted international partners is terrorism. This distinction is important, and it is fundamental to understanding the positive economic implications of recent actions. "The operation in question was precise, intelligence-led, and focused exclusively on terrorist elements that threaten innocent lives, national stability, and economic activity. "Far from destabilising markets or weakening confidence, such actions strengthen the foundations of peace, protect productive communities, and reinforce the conditions required for sustainable growth. “Security and economic stability are inseparable; every effort to safeguard Nigerians is,

by definition, pro-growth and pro-investment." Edun said under the leadership of President Bola Tinubu, Nigeria had made tangible and measurable progress on both security and economic reforms. He said the gains were evident in the macroeconomic performance. The minister stated, "In the third quarter of 2025, Nigeria recorded GDP growth of 3.98 per cent, following a strong 4.23 per cent growth in Q2. We expect a stronger Q4 2025 GDP performance. “Inflation has decelerated for the seventh consecutive period and is now below 15 per cent, reflecting improving price stability and the effectiveness of

the Nigerian capital market as a catalyst for sustainable economic growth.” Agama also pointed to recent macroeconomic improvements, including Nigeria’s sovereign credit rating upgrade and removal from the Financial Action Task Force (FATF) grey list, describing them as signals of renewed investor confidence. “These achievements are not mere milestones; they signal renewed confidence in our

coordinated fiscal and monetary actions. "Our financial markets remain resilient. Domestic and international debt markets are stable and functioning efficiently, supported by prudent fiscal management. “Over the past year, Nigeria has received credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s—clear, independent endorsements of the strength of our reforms and the credibility of our economic direction. "We have maintained fiscal discipline, prioritised efficiency, and protected macroeconomic stability—demonstrating resilience in the face of external shocks." Edun said, as Tinubu stated

TINUBU CLOSES 2027 DEAL WITH KANO GOV, YUSUF, CONCLUDING PLAN TO JOIN RULING APC advanced stages, and barring any last minute change of mind, APC might be welcoming the biggest prize (Yusuf) so far to its ever expanding fold. Kano, being the state with the highest votes in the country, carries special significance in Nigeria's electoral map and is the dream of any presidential candidate. The APC leadership targeted the Kano State governor after its initial bid to woo Kwankwaso failed. It set its eyes on the governor, who expressed openness to the idea. Sensing an opening, the APC apparatchik piled pressure on the governor with attractive offers, which eventually swayed him

to make up his mind. THISDAY checks revealed that Yusuf had been trying to convince his political godfather, Rabiu Kwankwaso, to join APC, believing that it was the only way he could secure a second term, given what was currently on the horizon in the countdown to the next electoral bout. Sources at Government House, Kano, confirmed to THISDAY that the governor had been trying to persuade Kwankwaso to join him in defecting to APC, convinced that it was the only way to secure his re-election and preserve the political heritage of the Kwankwasiyya movement at this time. A party source claimed that

the Kwankwasiyya circle had been sharply divided, with some influential members in the state House of Assembly and the National Assembly opting to go with the governor to APC. However, some of Kwankwaso's diehard members had vowed to remain with the NNPP leader, until he decides otherwise. They included the deputy governor, Aminu Abdulsalam, who was alleged to be interested in flying the NNPP flag in the 2027 elections. In a video clip, DirectorGeneral of Protocol, Government House, Abdullahi Rogo, was seen appealing to members of the party to work together with

the governor and join APC. Rogo urged both the governor and the leader of Kwankwassiya movement, Kwankwaso, to move together with Yusuf to the APC. One APC chieftain in the state, Imrana Muhammad, posted on his X handle, "After our meeting with the speaker of the Kano State House of Assembly and other members of Kwankwasiyya, we agreed that Kwankwaso and Kano State Governor Abba K. Yusuf should join the APC.” Interestingly, Kwankwaso had reportedly said at different fora that NNPP was ready to join APC on some condition, albeit mulling his positions, particularly

the timing. He, reportedly, stated that, “We are ready to join APC under strong conditions and promises. We will not allow anyone to use us and later dump us. Nobody in the country will tell me the burden we took in creating APC. “We were the ones who led the creation of the party, and we were the first set of seven governors to declare support for it. ICPC, EFCC, and the police were all used against me then, just to stop our plans.” Kwankwaso, who also recalled the frustrations of past alliances, had once accused both APC and Peoples Democratic Party (PDP) of flouting agreements.

OJULARI: COMPETITION IN DOWNSTREAM PETROLEUM SECTOR WILL BENEFIT CONSUMERS after a meeting with President Bola Tinubu at his IkoyiLagos residence, Ojulari, who described the market pressure as unavoidable, said the shift towards a fully competitive, willingbuyer, willing-seller market framework was expected to generate initial frictions, but would ultimately stabilise over time. He said, “At the end of the day, Nigerians on the streets are going to be the beneficiaries. Where there is healthy competition, the buyers are the ultimate beneficiaries.” The NNPCL boss said his visit was to update the president on the company’s year-end performance, while also presenting its strategic

focus for 2026. He said the visit further provided an opportunity to acknowledge the president’s backing for the continuing reforms within the NNPCL. According to him, “I came to update Mr President about the end-of-2025 performance of NNPC and to discuss our strategic priorities for 2026. “It is also to thank Mr President for the inspiration he has given to the new NNPC management and board through this very challenging period of transformation.” He described the reform of NNPCL as a difficult but necessary process, stating that presidential backing has been critical to the progress recorded so far.

On output levels, Ojulari said the company achieved notable improvements in 2025 when compared with its production performance in the preceding year. He stated, "Last year, we were producing about 1.5 million barrels per day. This year, we are getting to over 1.7 million barrels per day in terms of oil production.” He added that gas output also rose significantly within the same period. Ojulari said, “Our gas production increased from about 6.5 billion standard cubic feet per day to over 7 billion standard cubic feet per day. Those improvements are underpinned by very structural changes within the organisation.”

He also highlighted progress on the Ajaokuta– Kaduna–Kano Gas Pipeline (AKK), describing it as one of the most important milestones of the year. “We successfully completed the welding of the main line of the AKK. We were able to cross the River Niger, which had been a struggle for many years,” he stated. He emphasised that the completion of the main line would allow connections to begin early next year, unlocking gas supply to large parts of northern Nigeria. Ojulari said, “By completing the main line, we can now begin to make all the connections in the early part of next year. That brings gas in its full form to the

northern part of Nigeria.” The NNPCL boss listed Kaduna, Kano, Ajaokuta and Abuja as major beneficiaries, adding that gas availability would drive industrialisation. “We will begin to see industrial parks, gas-based industries, fertiliser plants and power generation,” he said. Projecting ahead of 2026, Ojulari said increasing production would remain the company’s top priority, stressing that it requires deliberate efforts to attract investment. “When we say increasing production, it sounds simple, but there is a lot that goes into it. It means attracting the right investment, whether in oil or gas,” he said.

Agama

economy. They will attract greater investment and enhance capital inflows, reinforcing the stability and growth prospects of our financial markets,” he said. in his address last week, "Our overarching objective for 2026 is to consolidate the gains of 2025, strengthen Nigeria’s economic resilience, and continue building a sustainable, inclusive, and growth-oriented economy." The finance minister declared, "The actions we take today—on security, reforms, and fiscal discipline—are aligned with that goal. "As markets reopen on Monday, 29 December 2025, investors can be confident that Nigeria remains focused, reform-driven, and committed to stability. "The fundamentals are strengthening, the policy direction is clear, and the resolve Continued on page 29

“Eight years of APC under the immediate past President Muhammadu Buhari gave us nothing, not even appreciation. In PDP, we asked for just a zonal party chairman, but they refused,” he explained. However, a reliable party source disclosed to THISDAY that the APC leadership had first approached Kwankwaso and tried to convince him on why he should join the ruling party. Unfortunately, after a lot of back and forth, and Kwankwaso seemed to be foot-dragging for obvious reasons, the APC leadership decided to review its strategy in order to make an inroad to the political capital of the north. He disclosed that NNPC was targeting at least 1.8 million barrels per day next year, while pushing gas production even higher. Ojulari stated that the company expected more final investment decisions and was reviewing its asset portfolio to unlock value. He said Tinubu commended the management and board for the early gains, but reminded them of long-term targets, saying, “Mr President charged us with driving his performance aspiration, he reminded us of the target of attracting over $30 billion in additional investment by 2030.” He added that Tinubu Continued on page 28

NEWS

T H I S D AY • MONDAY, DECEMBER 29, 2025

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

CELEBRATING NIGERIA...

L-R: Banking industry Marketing Executive, Mr. MacDonald Nweze; Head, Human Resources Management, National Theatre, Mrs. Bunmi Jimoh (representing the General Manager, National Theatre, Mrs. Tola Akerele); journalist and dramatist, Mr. Biodun-Thomas Davids; and the King of Odo Ijesha, His Royal Majesty, King Gbadamosi James Ishola, at Season One of Reflections and Fests – International Gathering Celebrating Nigeria, convened by Davids, in Lagos … recently

FG Rakes In N612bn from Electronic Transfers, VAT, Stamp Duty in November Amount accounts for 45% of total collections

Emmanuel Addeh in Abuja

Nigeria’s tax system leaned heavily on consumption and transaction-based revenues in November 2025, with electronic money transfers, Value Added

Tax (VAT) and stamp duties jointly contributing about N612.13 billion to federally collected revenues. The figure gleaned from a presentation to the Federation Account Allocation Committee

(FAAC) this December, represented roughly 45.3 per cent of the N1.35 trillion total collected by the Federal Inland Revenue Service (FIRS) during the month under consideration. A THISDAY analysis

showed that this underscored the growing weight of digitally traceable and consumptionlinked taxes in the country’s fiscal structure in 2025. According to the data, the total collections into the

Budget: FG Allocates N17.3bn to Group Life Insurance of its Workers

Ebere Nwoji

Despite the high inflationary trend plaguing the country, the federal government has budgeted a total of N17.3 billion for the group life insurance of its workers. This is out of N58.47 trillion total budget for 2026 presented to the joint session of National Assembly by President Bola Tinubu on December 19. In this year’s budget year, the government allocated N17.31 billion to the group life insurance of its workers out of a N54.99 trillion budget approved for the country for the year. Analysts said that was an indication of the place of insurance in national

economic growth. Many believe the federal government is not very mindful of the security of its assets, which could be safeguarded through insurance, and is also paying lip service to the welfare of workers in terms of group life insurance. According to analysts, this lack of regard for insurance has been instrumental to the slow growth of insurance and the trend has continued for many years, leading to infinitesimal contribution of the sector to the national economy. For instance, up till last year, insurance contributions to GDP was still less than one per cent, according to

statistics by the National Bureau of Statistics. However, sector analysts said allocation of six per cent of this year’s budget to health sector, which covered health insurance, will be beneficial to insurance sector. Allocations in the health sector (totalling six per cent of the budget) also covered the National Health Insurance Scheme (NHIS), which involves the insurance sector. On the other hand, analysts said allocation of N3.56 trillion to infrastructural projects in this year’s appropriation bill, as against N4 trillion allocated in 2025 budget, had dashed hope of higher performance of insurance sector in 2026 year. This is because when

allocation to infrastructure is high, insurers reap bountifully from infrastructural project execution, as the project must have insurance cover. Section 9, sub section 3 of PRA 2014 requires employers to maintain a life insurance policy for all their employees. The act further mandates employers to pay at least three times the employees’ gross annual total remuneration into group life insurance policy. In compliance with the law, the federal government, as employer, makes provision through annual budgets for group life insurance of its workers, including members Mary Nnah of National Youth Service As Nigerians celebrate the festive Corps (NYSC).

Vice President, Global Services, Amazon Web Services (AWS), Uwem Ukpong, has called for a balanced national approach to Nigeria’s brain drain debate, stressing that while Nigerians abroad contribute significantly through remittances, deliberate efforts must also be made to create opportunities

that will encourage skilled professionals to return home. Ukpong, who made this call at a private reception hosted by the Board of Trustees (BoT) of I-scholar Initiative (iSI) in Lagos, addressed concerns about whether Nigerian scholars trained abroad would eventually come back to contribute to national development. According to him, the

conversation around overseas education and migration must recognise the enormous value already being created by Nigerians in the Diaspora, who repatriate over $20 billion annually into the Nigerian economy. “We should not negate the fact that Nigerians in the Diaspora repatriate over $20 billion every year to Nigeria,” he said. “These funds go into banks,

billion, while non-import VAT contributed N157.50 billion. The dominance of import VAT meant that roughly 72 per cent of VAT receipts for the month came from imported goods and services, highlighting the continued sensitivity of VAT performance to trade flows, exchange rate dynamics and customs efficiency. Besides, Electronic Money Transfer Levy (EMTL) collections, which reflect the growing formalisation of financial transactions, reached N43.40 billion in November. This represented about 3.2 per cent of total FIRS collections for the month. But while modest relative to VAT, the EMT levy has become a stable revenue stream since its introduction, benefiting from the sustained expansion of electronic payments across the banking system.

FRSC, Pernod Ricard Launch ‘Don't Drink and Drive’ Campaign to Save Lives During Festive Season

Ukpong Canvasses Balanced Approach to Brain Drain Funmi Ogundare

Federation, VAT and Electronic Money Transfer Levy pool accounts stood at N1.35 trillion for the period. However, although sizable, the outturn fell short of the monthly target of about N1.94 trillion by N590.81 billion, translating to a performance level of 69.6 per cent. Compared with October, collections were also lower, reflecting pressures across several major tax heads. Within the aggregate performance, VAT remained the single largest contributor among the three focus revenue lines. Total VAT collections in November amounted to N563.04 billion, accounting for about 41.7 per cent of overall revenues, the FAAC data indicated. The VAT take was driven predominantly by import VAT, which delivered N405.54

support lending, and help drive economic activity.” However, Ukpong who also serves as a board member of the I- Scholar Initiative (ISI), emphasised that financial remittances alone are not enough. He stated that Nigeria must also intentionally create pathways for highly skilled Nigerians abroad to return and contribute their expertise locally.

season, the Federal Road Safety Corps (FRSC) and Pernod Ricard Nigeria have joined forces to raise awareness about the increasing number of drunk driving incidents on the nation's roads. The alarming trend has prompted the two organisations to launch a joint campaign to promote responsible drinking and road safety. The campaign, themed "Take Responsibility for Your Safety. Don't Drink and Drive,” seeks to sensitise the public on the dangers of drunk driving and promote a culture of responsible road use, particularly during the festive season when roads are

busier than usual. Speaking during an event held in Ikeja, Lagos, recently, the Managing Director of Pernod Ricard Nigeria, Michael Ehindero, emphasised the importance of responsible drinking and road safety during the festive season. "As we celebrate with family and friends, let's not forget that road safety is everyone's responsibility. We urge all road users to prioritise their safety and the safety of others on the road. Don't drink and drive, and let's make this festive season a joyful and accident-free one." Ehindero added the campaign is an integral part of Pernod Ricard's culture, which emphasises being responsible for one's actions, even on the roads.

MONDAY, DECEMBER 29, 2025 • T H I S D AY

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NEWS

WIKE WITH CHILDREN OF RIVERS LAWMAKERS...

Minister of the Federal Capital Territory, Mr. Nyesom Wike, with children of members of the Rivers State House of Assembly, during his visit to the lawmakers at the Assembly Quarters in Port Harcourt, over the weekend

CPPE Projects 2026 as Beginning of Robust Growth Phase for Nigeria Dike Onwuamaeze

Centre for the Promotion of Private Enterprise (CPPE) has projected that 2026 would mark the beginning of a more robust growth phase for Nigeria with tangible improvements in its citizen's living standards. The CPPE made the projection yesterday in its "Review of the Nigerian Economy in 2025 and Outlook for 2026." The review, which was released by Chief Executive Officer of CPPE, Dr. Muda Yusuf, described 2025 as "a year of macroeconomic stability." Yusuf said since 2025 had laid a solid foundation for macroeconomic stability, "The outlook for 2026 is reassuring, with expectations of stronger growth, easing inflation,

improving investor confidence and a gradual shift toward more inclusive expansion. "If reform momentum is sustained and security challenges are effectively addressed, 2026 could mark the beginning of a more robust growth phase with tangible improvements in living standards." He added that the 2026 economic outlook is that of cautious optimism. Yusuf said, "With reform momentum sustained, Nigeria is expected to transition more decisively from stabilisation to growth. "GDP growth is projected between 4.0 and 4.5 per cent, supported by continued moderation in inflation and stronger non-oil sector performance." He also said moderating

Yuletide: Pro‑Tinubu Group Distributes Palliatives to Imo Residents Worth Millions of Naira Amby Uneze in Owerri A group working for the second term reelection of President Bola Ahmed Tinubu known as the South East Renewed Hope Agenda (SERHA) has distributed palliatives containing various food items to some residents in Imo State for their Christmas celebration. Those who benefited from the food largesse included party faithful in the 27 local government areas of the state and other indigent members of the society. The gesture, according to the South East National Coordinator of the group, Ambassador Belusom Enwere in his address during the distribution held in Owerri, the Imo State capital, described it as a “gift” to Imo supporters meant to

spread yuletide cheer and reinforce the president’s Renewed Hope Agenda at the grassroots. The coordinator maintained that as the festive season reaches its peak, "we are reminded not only of joy, celebration, and fellowship but also of our collective responsibility to support the vulnerable and uphold the spirit of compassion and unity." According to him, our palliative distribution includes staples such as rice, beans, garri, and other essential food items, which are being shared through coordinated efforts of South Renewed Hope Agenda in the region, and community leaders who have helped to identify beneficiaries in a transparent and inclusive process.

inflation would strengthen domestic demand and create room for gradual monetary easing, potentially lowering interest rates and stimulating private investment, adding that services, especially telecommunications, finance, construction, real estate and trade, would remain the primary growth engine. The CPPE leader said 2025 marked a significant turning point in Nigeria’s

macroeconomic trajectory following the turbulence associated with the early phase of reforms. It said, "Exchange-rate stability emerged as the most visible achievement, with the naira largely trading within the N1,440–N1,500/US$ band. "Periodic marginal appreciation strengthened business confidence, eased imported inflation and restored predictability to pricing,

contracting and investment planning.” The centre stated that inflation decelerated sharply from 24.48 per cent in January to about 14.45 per cent by November 2025. According to CPPE, the slowdown was supported by currency stability, easing logistics pressures and improving supply conditions. Several food items and imported consumer goods

recorded outright price declines, contributing to improved consumer sentiment and reduced-price volatility. Yusuf said those factors had enabled business confidence to strengthen materially. He said, "The NESG–Stanbic IBTC Business Confidence Index remained positive for most of the year, reflecting improved investor perception and a gradual recovery in corporate profitability.

Shettima: Marital Unions Are Pillars of Long-term National Development Deji Elumoye in Abuja Vice President Kashim Shettima has described marital unions as fundamental pillars of Nigeria's social strength and long-term national development. Shettima stated that marriage was not merely a personal milestone but also a social institution that nurtured values essential for national cohesion, stability, and progress. He spoke on Sunday in Makurdi, the Benue State capital, where he represented President Bola Tinubu at the solemnisation of holy matrimony between

Miss Deborah Ershima and Mr. Samuel Aondoakur, son of Secretary to the Government of the Federation (SGF), Senator George Akume. Reflecting marital union as a powerful metaphor for the deep integration of lives, the vice president stated that strong family unions contributed directly to long-term national development and cohesion. He said the institution of marriage spoke to something deeply Nigerian and deeply human. He stated, “There are moments in life an event quietly writes itself into memory. Today

is one of those moments. We have come together not merely to witness a wedding, but to stand at the intersection of two stories choosing to become one.” Shettima commended the families of the couple for raising children grounded in discipline, faith, and character, maintaining that strong families do not emerge by accident but through intentional value formation. Stressing that successful marriages thrive on alignment, patience, and humility rather than perfection, he said everyday

choices, such as listening, forgiveness, and mutual support, were what sustained homes long after ceremonies ended. Shettima said, “A home is not built by vows alone. It is built by everyday choices. By the decision to return kindness for impatience. By the courage to apologise even when you feel justified. “By the humility to ask for help when the road feels longer than expected. These are not weaknesses. They are the quiet strengths that keep marriages standing long after the celebration ends.”

Citing Govt Reforms, Firm Forecasts Strong 2026 Export Growth Bennett Oghifo

An ISO-certified Pre-Shipment Inspection firm, Swede Control Intertek Ltd., has projected a positive outlook for Nigeria’s export sector in 2026, citing key drivers as stronger compliance, quality assurance, and government reforms. Swede Control Intertek Limited is a wholly-owned Nigerian company that provides quality and safety

services to the federal government and a wide range of global and local industries. Addressing journalists at a virtual press conference, the Managing Director, Mr. Folarin Familusi, said the company’s recent ISO certification would boost its effectiveness. “We collaborate with the federal government to ensure the safety and quality of imports, verify duty collection,

provide cargo security, and monitor oil and gas exports, among other responsibilities,” Familusi said. “We play a critical role in the Nigerian Export Supervision Scheme, ensuring accurate reporting of crude oil exports. “President Bola Tinubu is focused on raising Nigeria’s revenue, which makes our role vital for goods leaving or entering the country. “Accurate duty application

depends on our oversight,” he said. “The combination of government policy reforms and the company’s ISO certification had improved investor confidence and repositioned maritime and petroleum sectors as key drivers of economic growth,” he said. “Our commitment to global best practices will support stronger export performance in 2026 and beyond.

MONDAY, DECEMBER 29, 2025 • T H I S D AY

VIEWS FROM ABROAD

U.S Airstrikes in Nigeria: How Global Media Reported It

The New York Times: US Strikes ISIS in Nigeria After Trump Warned of Attacks on Christians The United States launched a number of strikes against the Islamic State in northwestern Nigeria, President Trump announced on Thursday, the latest American military campaign against a nonstate adversary — in this case, Islamic jihadis who the president asserts have been slaughtering Christians. Mr. Trump said in a post on Truth Social that “the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians at levels not seen for many years, and even Centuries!” The strike involved more than a dozen Tomahawk cruise missiles fired off a Navy ship in the Gulf of Guinea, hitting insurgents in two ISIS camps in northwest Nigeria’s Sokoto State, according to a U.S. military official, who spoke on condition of anonymity to discuss operational matters. The operation was done in coordination with the Nigerian military, the official said. In a statement, U.S. Africa Command said its initial assessment concluded that “multiple” ISIS terrorists were killed in the strike U.S. Africa Command is working with our Nigerian and regional partners to increase counter terrorism cooperation efforts related to ongoing violence and threats against

innocent lives,” Gen. Dagvin Anderson, the commander of U.S. Africa Command, said in a statement. “Our goal is to protect Americans and disrupt violent extremist organizations wherever they are.” The attack occurred in a region along the border with Niger, where a branch of ISIS called the Islamic State-Sahel has been attacking both government forces and civilians, according to Caleb Weiss, a counterterrorism analyst and editor with FDD’s Long War Journal. The U.S. operation inside Africa’s most populous nation followed months of growing allegations by Christian evangelical groups and senior Republicans that Christians were being targeted in widespread violence. An insurgency there has gone on for more than a decade, killing thousands of Christians and Muslims across sectarian lines. The Nigerian authorities have rejected allegations of a Christian genocide, noting that the web of violent armed groups, with different motives and spread across the country, kills as many Muslims as Christians. However, Nigerian officials have stepped up engagement with the U.S. in recent weeks, after Mr. Trump ordered the Defense Department in November to prepare to intervene militarily in Nigeria to protect Christians. The Christmas Day attack came after the U.S. had been

conducting intelligence-gathering surveillance flights over large parts of Nigeria since late November, according to the military official. On Thursday, Defense Secretary Pete Hegseth wrote in a post on social media, “The President was clear last month: the killing of innocent Christians in Nigeria (and elsewhere) must end.” “The @DeptofWar is always ready, so ISIS found out tonight — on Christmas,” he added. “More to come…”

Reuters: US Says It Struck Islamic State Militants in North-west Nigeria The United States carried out a strike against Islamic State militants in northwest Nigeria at the request of Nigeria’s government, President Donald Trump and the U.S. military said on Thursday, claiming the group had been targeting Christians in the region. “Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!,” Trump said in a post on Truth Social. The U.S. military’s Africa Command said the strike was carried out in Sokoto state in coordination with Nigerian authorities and killed multiple ISIS militants. Nigerian Foreign Minister Yusuf Maitama Tuggar told the British Broadcasting Corp the strike was a “joint operation” targeting “terrorists”, and it “has nothing to do with a particular religion”. Without naming ISIS specifically, Tuggar said the operation had been planned “for quite some time”

and had used intelligence information provided by the Nigerian side. He did not rule out further strikes, adding that this depended on “decisions to be taken by the leadership of the two countries” The strike comes after Trump in late October began warning that Christianity faces an “existential threat” in Nigeria and threatened to militarily intervene in the West African country over what he says is its failure to stop violence targeting Christian communities. Reuters reported on Monday the U.S. had been conducting intelligence-gathering flights over large parts of Nigeria since late November. Nigeria’s foreign ministry said the strike was carried out as part of ongoing security cooperation with the United States, involving intelligence sharing and strategic coordination to target militant groups. “This has led to precision hits on terrorist targets in Nigeria by air strikes in the North West,” the ministry said in a post on X. A video posted by the Pentagon showed at least one projectile launched from a warship. A U.S. defense

official said the strike targeted multiple militants at known ISIS camps. U.S. Defense Secretary Pete Hegseth thanked the Nigerian government on X for its support and cooperation and added: “More to come...”

T H I S D AY • MONDAY, DECEMBER 29, 2025

VIEWS FROM ABROAD

Bloomberg: US Strikes ISIS in Nigeria, Warns ‘More to Come’ The US launched a military strike in Nigeria against Islamic State targets in a security and intelligence collaboration with the African nation’s government, which has been struggling to contain increasing levels of terrorist attacks in parts of the country. President Donald Trump said he directed American forces to carry out “a powerful and deadly strike” against ISIS. Nigeria’s foreign affairs ministry confirmed the “precision hits on terrorist targets” and said it remains engaged with international partners including the US to address the “persistent threat of terrorism and violent extremism.” Trump in November threatened possible US military action against Islamist militants in Nigeria if the country’s government didn’t halt the groups’ “killing of Christians.” At the time, Nigerian dollar bonds fell across the maturity curve, according to data compiled by Bloomberg. “Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent

Christians, at levels not seen for many years, and even Centuries!” Trump said in a social media post. “I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.” US Africa Command said in a statement that the attack came “at the request of Nigerian authorities” and killed “multiple ISIS terrorists.” Defense Secretary Pete Hegseth on Thursday threatened there would be “more to come” if the group does not stop going after “innocent Christians in Nigeria (and elsewhere).” Trump has already designated Nigeria as a Country of Particular Concern over so-called fears about the safety of Christians in the country. Republican Senator Ted Cruz, a Trump ally, has also pushed Congress to designate Nigeria a violator of religious freedom. Nigerian President Bola Ahmed Tinubu has rejected Trump’s characterization of the country as religiously intolerant. “Terrorist violence in any form whether directed at Christians, Muslims, or other communities remains an

affront to Nigeria’s values and to international peace and security,” the Ministry of Foreign Affairs said in the statement posted on X on Friday.

The Guardian: US Carries Out Strikes on Nigeria Targeting Islamic State Militants, Trump Says Donald Trump has said the US carried out airstrikes against Islamic State militants in north-west Nigeria on Thursday, after spending weeks decrying the group for targeting Christians. The president said in a post on his Truth Social platform: “Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries! “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was. The Department of War executed numerous perfect strikes, as only the United States is capable of doing.” The US military’s Africa Command said the strike was carried out in Sokoto state in coordination with the Nigerian authorities. An earlier statement posted by the command on X said the strike had been conducted

at the request of Nigerian authorities, but that statement was later removed. Pentagon chief Pete Hegseth said he was “grateful for Nigerian government support + cooperation”. Forests in Sokoto, which is bordered by Niger to the north, have been used as bases by gangs of armed bandits and members of the Islamic State Sahel Province (ISSP) known locally as ‘Lakurawa’. Some analysts say the latter’s cell in the state began as a group of herders banding together to fight incursions from bandits, in the absence of state support. Nigeria’s foreign ministry said the strikes were carried out as part of ongoing security cooperation with the US, involving intelligence sharing and strategic coordination to target militant groups. “This has led to precision hits on terrorist targets in Nigeria by air strikes in the North West,” the ministry said in a post on X. Earlier this month US planes conducted surveillance missions over the region. It’s believed they were using an airport in neighbouring Ghana as a launch base.

Trump has previously said he would launch a “gunsa-blazing” US military intervention in Nigeria, claiming that the country’s government has been inadequate in its efforts to prevent attacks on Christians by Islamist groups.

The Wall Street Journal: Trump Bombs ISIS in Africa President Trump ordered a bombing attack on Islamic terror camps in northwestern Nigeria on Christmas Day, with promises of “more to come” from Defense Secretary Pete Hegseth. But stopping the growth of ISIS in Africa will require more than bombing from afar. In a social-media post, Mr. Trump justified the strike

against ISIS terrorists “who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!” Pentagon sources told the press that more than a dozen Tomahawk cruise missiles were launched from a U.S. ship on targets in Sokoto State.

AP: US Launches Strikes Against Islamic State Group in Nigeria After Attacks Target Christians President Donald Trump said the United States launched a “powerful and deadly” strike against forces of the Islamic State group in Nigeria, after spending weeks accusing the West African country’s government of failing to rein in the targeting of Christians. In a Christmas evening post on his social media site Thursday, Trump did not provide details or mention the extent of the damage caused by the strikes in the northwestern state of Sokoto. A Defense Department official, who insisted on anonymity to discuss details not made public, said the U.S. worked with Nigeria to carry out the strikes and that they’d been approved by Abuja. The United States launched airstrikes against Islamic State group militants in northwestern Nigeria Thursday. Nigeria’s Ministry of Foreign Affairs said the cooperation included exchange of intelligence and strategic coordination in ways “consistent with international law, mutual respect for sovereignty and shared commitments to regional and global security.” The Associated Press could not confirm the extent of the strikes’ impact. Nigeria is battling multiple armed groups, including

at least two affiliated with IS, an offshoot of the Boko Haram extremist group known as the Islamic State West Africa Province in the northeast, and the less-known Lakurawa group prominent in the northwestern states, where the gangs use large swathes of forests as hideouts. Security analysts said the target of the U.S. strikes could be the Lakurawa group, which in the last year has increasingly become lethal in the region, often targeting remote communities and security forces. “Lakurawa is a group that is actually controlling territories in Nigeria, in Sokoto state and in other states like Kebbi,” said Malik Samuel, a Nigerian security researcher at Good Governance Africa. “In the northwest, there has been the incursion of violent extremist groups that are ideologically driven,” he said, blaming the incursion on the near absence of the state and security forces in hot spots Trump said the airstrikes were launched against IS militants “who have been targeting and viciously killing, primarily, innocent Christians.” Residents and security analysts have said Nigeria’s security crisis affects both Christians, predominant in the south, and Muslims, who are the majority in the north.

“Terrorist violence in any form, whether directed at Christians, Muslims or other communities, remains an affront to Nigeria’s values and to international peace and security,” the Nigerian Ministry of Foreign Affairs said. Nigeria’s government has previously said in response to Trump’s criticisms that people of many faiths, not just Christians, have suffered attacks at the hands of extremist groups.

MONDAY, DECEMBER 29, 2025 • T H I S D AY

MONday DECEMBER 29, 2025 • T H i s d ay

NEWS

FEDERAL GOVERNMENT OF NIGERIA

FEDERAL MINISTRY OF WATER RESOURCES AND SANITATION SUSTAINABLE POWER AND IRRIGATION FOR NIGERIA(SPIN) PROJECT IDA Credit No: IDA-76370

REQUEST FOR EXPRESSIONS OF INTEREST FOR CONSULTANCY SERVICES RECRUITMENT OF DAM SAFETY REVIEW PANEL OF EXPERTS (DSRPOE) The Federal Government of Nigeria on behalf of the Federal Ministry of Water Resources and Sanitation (FMWRS) has received financing from the World Bank toward the cost of implementing the Sustainable Power and Irrigation for Nigeria (SPIN) Project and intends to apply part of the funds for the engagement of Dam Safety Review Panel of Expert (DSRPOE). The consulting services (“the Services”) includes: i. Dams Safety/Dams Monitoring /Civil Engineering Expert to serve as Lead Expert of the Dam Safety Review Panel of Experts (DSRPOE) ii. Geological /Geotechnical Engineering Expert to serve as a member of the Dam Safety Review Panel of Experts (DSRPOE) iii. Operational Hydrology and Hydraulic Expert to serve as a member of the Dam Safety Review Panel of Experts (DSRPOE) iv. Hydro-Mechanical Expert to serve as member of the Dam Safety Review Panel of Experts (DSRPOE) The Dam Safety Panel of Experts (DSRPOE) will act as an independent technical advisory body to the Federal Project management Unit (FPMU), reviewing dam infrastructure designs for compliance with international and World Bank standards. The panel will be chaired by the Dams Safety/Dams Monitoring/Civil Engineering Expert, who will lead and coordinate its activities. The assignment is time-based and shall be for a period of two (2) years at initial award which may be further renewed upon satisfactory performance. The detailed Terms of Reference (TOR) for the assignment can be found at the following link: i. https://1drv.ms/b/c/7a90ad26eaee9cce/IQDvwLHGqzrARILcQFIL-eXOAW5ccw0Tak rmR8UM20nMCFo?e=bzFufX and https://1drv.ms/b/c/7a90ad26eaee9cce/IQDms4ltj5tRKgUjNA176yNARyv_0WO_auxD6ZdX3o0DfQ?e=pLemee. - Dams Safety/Dams Monitoring / Civil Engineering Expert ii. https://1drv.ms/b/c/7a90ad26eaee9cce/ IQA_0EA8CHjNQ7T3LbZPTG3NAWCQx7AaDkdrWrZ4cUlBdPM?e=fZjvhI and https://1drv.ms/ b/c/7a90ad26eaee9cce/IQAvWrTbGdNYTIBl5e1g5NGYAcel9EK5mO0yVNDUCesjToc?e=NPiAyN - Geological /Geotechnical Engineering Expert iii. https://1drv.ms/b/c/7a90ad26eaee9cce/IQCSrP--oNaxSo518baBVyYPAeJV2ohFJyA2dVkuIezs5kE ?e=3ZR0bu and https://1drv.ms/b/c/7a90ad26eaee9cce/IQBYwl0tgaDeSbQJvRxVpRxpAaJlLPtMK 2p3-uLFY1olPns?e=oiDdAj - Operational Hydrology and Hydraulic Expert iv. https://1drv.ms/b/c/7a90ad26eaee9cce/IQCfSeUh6UEVT4odfKy2F-LoAc5bxIZ6K3 XS4X7gIlFjOkI?e=R2xVre and https://1drv.ms/b/c/7a90ad26eaee9cce/IQDz6wp_ vwNBR5z3Lc5BHcb7AeW7M8vk4wOPSzylJlWD46w?e=Zli8g0 - Hydro-Mechanical Expert The Federal Ministry of Water Resources and Sanitation, represented by the FPMU of the SPIN Project, now invites eligible individual consultants (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide their Curriculum Vitae (CV) demonstrating that they have the required qualifications and relevant experience to perform the Services. The selected consultants may be required to provide additional documents to support his/her qualification and experience. Qualification of Experts 1. Qualification of Dams Safety/Dams Monitoring /Civil Engineering Expert - Chairperson i.

Advanced degree (Post graduate) in Civil Engineering, Hydraulics, Water Resources Engineering, or a closely related field. ii. Minimum of 30 years of progressive professional experience in dam engineering, dam safety assessment, rehabilitation, and operation of large dams. iii. Proven experience as a lead or senior member of international dam safety review panels or equivalent advisory bodies. iv. Strong knowledge and hands-on experience in structural stability analysis, hydraulic design of spillways and outlet works, geotechnical engineering, and seismic safety assessments for large dams. v. Demonstrated experience in the review of dam instrumentation, monitoring systems, O&M manuals, and Emergency Preparedness Plans (EPPs). vi. Familiarity with rehabilitation and remedial works on embankment and concrete dams, including construction methods and QA/QC systems. vii. Knowledge of risk management approaches, hazard reduction strategies, and integration of climate change resilience in dam safety planning. viii. Exposure to multipurpose water infrastructure projects with hydropower, irrigation, and flood management functions. ix. Familiarity with the World Bank’s Environmental and Social Framework (ESF), specifically ESS4 (Community Health and Safety), and the legacy OP 4.37 (Safety of Dams). x. Knowledge of international dam safety guidelines (e.g., ICOLD, USACE, FERC standards). xi. Experience in planning and managing construction programs, complex construction works such as grouting technologies for cut-off walls, coffer dams and similar works for existing dams in particular xii. Experience in construction and management of dams in general with particular experience in remedial works for large dams, particularly in similar types and size of embankment dams xiii. Strong communication, report-writing, and mentoring skills, with the ability to transfer knowledge to local engineers and technicians 2. Qualification of Geological /Geotechnical Engineering Expert - Member i. Advanced degree (MSc or PhD) in Geotechnical Engineering, Geology, or Civil Engineering with specialization in soil and rock mechanics. ii. At least 25 years of professional experience, including 10 years specifically in dam design, construction, or safety evaluation. iii. Participated in three or more dam-safety review or rehabilitation projects, preferably under World Bank or comparable IFI programs. iv. Comprehensive knowledge of foundation behavior, seepage control, slope stability, and embankment performance. v. Proficiency with modern analytical methods and software for geotechnical assessment. vi. Demonstrated familiarity with World Bank ESS4/OP 4.37, ICOLD Bulletins 99 and 154, and national dam-safety practices. vii. Strong communication, report-writing, and mentoring skills, with the ability to transfer knowledge to local engineers and technicians 3. Qualification of Operational Hydrology and Hydraulic Expert - Member i. Advanced degree (MSc or PhD) in Hydrology, Hydraulic Engineering, Water Resources Engineering,

or closely related discipline. ii. Minimum of 20 years of progressive professional experience in dam design, hydrology, and flood hydrology, including at least 10 years in dam safety evaluation or rehabilitation. iii. Demonstrated expertise in hydrological modeling, flood routing, and spillway design using international best-practice software (e.g., HEC-RAS, HEC-HMS, MIKE series). iv. Proven participation in at least three major dam-safety or rehabilitation projects, preferably financed by the World Bank or other IFIs. v. Strong communication, report-writing, and mentoring skills, with the ability to transfer knowledge to local engineers and technicians

CSOs Slam EFCC for Continued Detention of Bauchi Finance Commissioner Segun Awofadeji in

State Commissioner for

Bauchi,Comrade

4. Qualification of Hydro-Mechanical Expert - Member Mr. Yakubu Godiya T. Adams Bauchi i. Advanced degree (Post graduate)Finance, in Electrical, Mechanical, or Civil/Structural Engineer, or a closelyof the Adamu, and the Coalition of Civil Society related field. failure of the experience Economic Organisations for Good The Independent Public ii. Minimum of 25 years of progressive professional in design, installation, operation, rehabilitation, and safety assessment systems andGovernance, dam instrumentation for andof hydro-mechanical Financial Crimes alongside Service Accountability large dams. Watch (IPSAW), in Commission (EFCC) to Comrade Stephen Eriba, iii. Proven experience as a lead member ofhim international dam safety review panels or equivalent produce before a Executive Director of collaboration with theor senior advisory bodies. competent court of law IPSAW, described the Coalition ofexpertise Civil Society iv. Extensive in: arraignment and gates, EFCC’s as deeply Organisations for and Good a. Hydro-mechanical electricalfor equipment used in dams, including valves,conduct hoists, cranes, consideration of bail. and associated troubling and a direct Governance, has strongly stop logs, hydraulic systems, penstocks, turbines, generators, control/protection systems. the continued Speaking at a affront to the authority condemned b. Dam instrumentation and monitoring including piezometers, settlement presssystems, conference in ofinclinometers, the judiciary. detention of the Bauchi gauges, seepage meters, pressure cells, vibration/strain sensors, hydrometric stations, data loggers, and telemetry systems. c. SCADA-based dam operations, dam monitoring systems, and real-time hydro-meteorological networks. (ND) programmes. the Bola Ahmed Sunday Okobi d. Failure Modes, Effects and Criticality Analysis (FMECA) and/or equivalent tools for risk assessmentTinubu of reservoirs and dam operations. This feat was achieved International Conference e. World Bank Ministry ESF/ESS4, OPof4.37,shortly and ICOLD guidelines for dam safetyCentre monitoring and electroafter the institute in Abuja. The Federal mechanicalthrough systems. PEFTI has been accredited Education, the was recently crowned the

Ministry Accredits 5 New ND Programmes for PEFTI National Board for Technical

“Best Innovation Enterprise

to offer National Diplomas

upgraded and accredited the

for both the 2023/2024

and Management, Fashion

Innovation (PEFTI), with

Performance-Merit Awards

Technology, and Music

A Consultant will be selected in accordance with the Individual Consultant Selection method set out in the EducationRegulations. (NBTE), has Institution in Nigeria” in Business Administration Procurement

academic3.15, 3.16, Design Clothing special institution, Performing The attention of interested Consultants isand drawn2024/2025 to Section III, paragraphs, and 3.17 and of the World Bank’s Regulations for IPF sessions, Borrowers” at September. 2025 (“Procurement Regulations”), setting Mass the prestigious Technology, Arts“Procurement Entrepreneurship forth the World Bank’s policy on conflict National of interest.Tertiary Admissions Communication, Multimedia Fashion and Technology Further information can be obtained at the address below during office hours 8:00 am and 5:00 pm (Local (NATAP-M) recently at Technology. fiveMonday new National Diploma time to Friday) and /or send an email to the National Project Coordinator at the address below. Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by e-mail) on or before Thursday 15th January, 2026.

Tonye Princewill Begins Community Leadership Role in Buguma

Sunday Ehigiator Attn: National Project Coordinator of the Kalabari Kingdom, Rivers State, where Sustainable Power and Irrigation for Nigeria (SPIN) Project Federal Ministry of Water Resources & Sanitation, he has assumed fullPrince Tonye Princewill, Plot 1402, Abba Street, Offlate Adesojitime Aderemi responsibility Street, as son of Kyarithe Apo-Abuja, FCT, Nigeria: Tel: +2348034432501 Paramount Chief, marking Amanyanabo of the Email: info@spinproject.ng

Kalabari Kingdom, King a significant shift from Amachree XI, has relocated his previously global Signed: in business, fully to Buguma, the engagements National Project politics, andCoordinator the creative traditional headquarters

industry. Princewill disclosed that he has been living in Buguma continuously for the past six months, describing the move as a conscious decision to place community leadership at the centre of his life.

T H I S D AY • MONDaY DECEMBER 29, 2025

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 SMS ONlY

M O N D AY D I S C O U R S E

Drawing a Hard Line against Terrorism with Sokoto Air Strike

The recent counter-terrorism strike in Sokoto marks a turning point in Nigeria’s long struggle against terrorists and jihadist violence and security calculus. Enabled by foreign cooperation, it underscores both renewed state resolve and a shifting approach to intelligence, sovereignty, and security partnerships at a critical moment. Adedayo Adejobi writes.

Tinubu

eports of a coordinated counterterrorism operation involving Nigeria and the United States, driven by actionable intelligence and executed in Sokoto, have introduced a new and consequential chapter in the long war against jihadist violence in Nigeria and the wider Sahel. Whether viewed as a tactical strike or a strategic signal, the operation has resonance far beyond the immediate battlefield. It speaks to political will, evolving alliances, contested sovereignty, and the uncomfortable recalibration of Nigeria’s security doctrine in an era where terror networks are transnational, adaptive, and deeply entrenched. Sokoto occupies a unique symbolic and historical space in Nigeria’s security imagination. As the heartland of the old Islamic caliphate, it represents continuity, authority, and religious legitimacy. For terror groups that thrive on myth-making and ideological inheritance, geography matters. An operation in this space is therefore not just kinetic, it is psychological. It signals that no terrain is too sensitive, no symbolism too sacred, when the survival of the Nigerian state is at stake. Politically, the most striking element of the episode is the assertion of will. Successive Nigerian administrations have often been accused of rhetorical toughness paired with operational hesitation. In this case, the decision to act decisively, reportedly in alignment with firm pressure and expectations from Washington under President Donald Trump’s hard line posture on terrorism, reflects a shift from caution to confrontation. Trump’s worldview leaves little room for ambiguity, allies are expected to act, not equivocate. Nigeria’s response suggests a leadership increasingly aware that delay and half measures only embolden violent non-state actors. Yet political will does not exist in a vacuum. It is inseparable from political cost. Domestic sensitivities around foreign involvement in security operations are real and historically grounded. Nigeria’s memory of external interference, from colonial conquest to Cold War maneuvering, has made sovereignty a deeply emotive concept.

Trump

Reliance on United States intelligence, no matter how precise or timely, inevitably raises questions. Who defines the target? Who controls the narrative? Who bears responsibility for unintended consequences? Critics argue that over dependence on foreign intelligence risks hollowing out Nigeria’s own capacity. This concern deserves serious engagement. Intelligence is not merely data, it is context, culture, language, and long term presence. A nation that outsources too much of this function risks strategic blindness. At the same time, absolutist notions of intelligence sovereignty are increasingly obsolete. Terror networks share resources, move across borders, and exploit digital platforms that no single state can fully monitor. The real issue is not cooperation, but balance. Nigeria must ensure that intelligence partnerships are reciprocal, capacity building, and anchored in Nigerian command authority. The economic dimension further complicates the narrative. Observers who allude to America’s interest in Nigeria’s mineral resources are not speaking in a vacuum. The Sahel and West Africa are emerging theaters of strategic competition, with critical minerals, energy corridors, and trade routes at stake. Security cooperation is never purely altruistic. However, acknowledging interest does not automatically invalidate

partnership. The question is whether Nigeria negotiates from a position of clarity and strength, or from desperation. Counterterrorism can coexist with economic self interest, provided Nigerian institutions are robust enough to protect national priorities. Militarily, the operation challenges long standing perceptions of compromise and fatigue within Nigeria’s armed forces. Years of asymmetric warfare have taken a toll on morale and public confidence. Accusations of infiltration, collusion, or incompetence have followed the military, sometimes fairly, sometimes opportunistically. A successful, intelligence led operation sends a counter-message. It suggests adaptability, learning, and renewed seriousness. The Nigerian Navy and other services, often peripheral in counterinsurgency discussions, are also implicated in this moment. Terror financing, arms smuggling, and logistics increasingly move through maritime and riverine routes. A stepped up, professional, and transparent military response across all services is no longer optional. Intelligence, however, remains the quiet centre of gravity. The language of actionable intelligence implies specificity, timing, and trust. It also implies risk. Acting on shared intelligence binds partners together in success and in failure. For Nigeria, the future of this alliance will depend on how effectively it translates external inputs into internal competence. Training, technology transfer, and doctrinal reform must follow operations, not trail them. The operation also reopens a contentious

This concern deserves serious engagement. Intelligence is not merely data, it is context, culture, language, and long term presence. A nation that outsources too much of this function risks strategic blindness. At the same time, absolutist notions of intelligence sovereignty are increasingly obsolete.

internal debate about dissent, criticism, and responsibility in wartime. Public intellectuals and clerics such as Sheikh Gumi and Ahmed Baba Ahmed, among others, have positioned themselves as vocal critics of the federal government’s counter-terrorism approach. In a healthy democracy, dissent is not only permitted, it is necessary. However, in a context as fragile as Nigeria’s security environment, rhetoric has consequences. Language that consistently delegitimises state action, rationalises extremist grievances, or frames terror groups as misunderstood actors demands scrutiny. This is not a call for persecution or silencing. It is a call for accountability and transparency. The Nigerian and international community are entitled to ask hard questions about funding networks, ideological affiliations, and cross border linkages that sustain extremist violence. Background checks, financial transparency, and open debate should not be taboo. They are tools of democratic self defense. To ask questions is not to accuse, but to protect. Regionally, the implications are profound. West Africa’s terror ecosystem is interconnected. Signals sent in Sokoto are received in Mali, Niger, Burkina Faso, and beyond. A Nigeria that demonstrates resolve alters calculations across the region. It reassures partners and unsettles adversaries. It also places weight on Nigeria’s shoulders. Leadership brings expectation. Consistency will matter more than spectacle. Ultimately, this moment is a test. A test of whether Nigeria can convert a tactical success into a strategic doctrine. A test of whether alliances can be managed without eroding sovereignty. A test of whether political will can be sustained beyond headlines. Terrorism thrives on doubt, delay, and division. The strongest signal Nigeria can send is not just force, but coherence. History will not remember intelligence briefs or diplomatic communiques. It will remember whether the Nigerian state chose clarity over comfort, responsibility over rhetoric, and action over paralysis. In Sokoto, a message was sent. What follows will determine whether it becomes a turning point or just another echo in a long war.

FEaturEs

MONday, dECEMbEr 29, 2025 • T H I S D AY

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

Season of Giving: How the Elumelu Family Reached Vulnerable Children in Lagos, Delta and Edo

As part of its end-of-year humanitarian outreach, the family of Tony Elumelu, Chairman of the United Bank for Africa (UBA) Group, Heirs Holdings, and Transcorp, over the weekend delivered essential food supplies to orphanages and care homes, including Hearts of Gold Children’s Hospice, Little Saints Orphanage in Surulere, SOS Children’s Villages Nigeria in Isolo, Living Fountain Orphanage, Adiel Children’s Home in Ilupeju, and Compassionate Orphanage in Egbeda, as well as beneficiary facilities and communities in Delta and Edo States. The initiative reaffirms the family’s commitment to supporting vulnerable children during the festive season and beyond. Chiemelie Ezeobi reports

“As we go into a new year, we pray for more strength for you to continue the good work you are doing. We do our little bit, but we need more people to help. We pray for more helpers,” she added.

Flag-Off at Hearts of Gold Children’s Hospice The donation drive commenced at the Hearts of Gold Children’s Hospice in Masha, Surulere, Lagos, a specialised medical facility that provides care for children with severe and complex health conditions. During the visit, Dr. Elumelu toured the hospice, interacted with the children, sharing hugs and laughter, and engaged caregivers who work daily under intense pressure to provide medical and emotional support. Speaking during the visit, Dr. Elumelu reaffirmed the family’s resolve to make a lasting impact on the lives of vulnerable children across the country.

Inside Hearts of Gold Children’s Hospice Responding on behalf of the beneficiaries, the Founder of Hearts of Gold Children’s Hospice, Mrs. Laja Adedoyin, expressed appreciation to the Elumelu family for their continued support, noting that earlier assistance had helped the hospice remain operational despite rising costs. “God is taking care of these children, but He does so through the support we receive. You came in January, and what you have sown has helped us get to where we are today,” she said. Adedoyin disclosed that donations received by the hospice are largely channelled into medical care, given the nature of the facility’s operations. “We have in-house doctors and nurses. On a daily basis, there are medical issues that require hospital care or care within the home. There is hardly a day we don’t have to buy medicine,” she said. Clarifying the unique role of Hearts of Gold, Adedoyin stressed that the facility is not an orphanage but a specialised medical hospice for children with complex health challenges. “We are not an orphanage; we are a hospice, a home for children with special needs, especially medical needs. Some of my children have Down syndrome, cerebral palsy, hydrocephalus, myocephalus and other congenital abnormalities. Many of them live with multiple disabilities,” she explained. She added that the children under her care are often those society struggles to accept. “These are the children people look at and want to look away from, but they are human beings and they exist. I have heard people say such children don’t exist, but they do and they are alive,” she said.

or decades, Tony Elumelu, Chairman of the United Bank for Africa (UBA) Group, Heirs Holdings and Transcorp, has championed a philosophy that places people at the centre of prosperity. That commitment once again found expression as the Elumelu family embarked on an end-of-year humanitarian outreach, donating essential food items to orphanage and care homes catering to vulnerable children across Lagos and Delta States. The 2025 outreach, flagged off in Lagos by his wife, Dr. Awele Elumelu, Chairperson of Avon Healthcare Limited, underscored a family tradition rooted in compassion, service and sustained community support, particularly for children living on the margins of society.

Scope of the Donation Exercise The outreach covered multiple homes, with the distribution of essential food staples aimed at easing the burden on caregivers as they prepared for the new year. Items distributed included 1,730 bags of rice and 290 bags of beans. Beneficiaries in Lagos included Hearts of Gold Children’s Hospice, Little Saints Orphanage in Surulere, SOS Children’s Villages Nigeria in Isolo, Living Fountain Orphanage, Adiel Children’s Home in Ilupeju, and Compassionate Orphanage in Egbeda. In Delta State, beneficiaries included facilities and communities in Onichukwu, the Federal Medical Centre (FMC) School of Nursing, and the National Youth Service Corps (NYSC) orientation camp in Usele-Ukwu, among other communities. Dr. Elumelu also noted that the outreach was extended to Delta State, where she and her husband hail from, as well as other parts of the country, to ensure broader impact. “We can never do too much or do enough, but at least let us do what we can. The more you do, God will help you to do more,” she said. A Season of Gratitude and Reflection During the presentation of items, Dr. Elumelu expressed gratitude to God for the year and commended caregivers for

Dr. Awele Elumelu flanked by representatives of Hearts of Gold Children Hospice, Surulere; SOS Children’s Village, Isolo; Living Fountain Orphanage; Adiel Children’s Home, Ilupeju; and Compassionate Orphanage, Egbeda, with the donation by the Elumelu family as part of its end-of-year humanitarian outreach

Dr. Elumelu with Founder of Hearts of Gold Children’s Hospice, Mrs Laja Adedoyin

Dr. Elumelu with one of the children in the Hearts of Gold Children Hospice

their resilience despite prevailing economic challenges. “We thank God for this season, a season of joy and peace. We know it has not been easy. Things have been tough in 2025, but through your efforts and the support of others,

you have been able to cope, and we thank God for you,” she said. She described the outreach as the family’s modest contribution towards supporting orphaned and vulnerable children as Nigeria transitions into a new year filled with hope.

Grateful Hearts The beneficiaries collectively expressed deep gratitude to the Elumelu family for the timely intervention, describing the donation as a significant relief amid rising costs and increasing care demands. Representatives of the homes noted that the support would go a long way in sustaining daily operations, easing pressure on caregivers, and ensuring that vulnerable children continue to receive proper nutrition and care as they transition into the new year with renewed hope. As the year draws to a close, the Elumelu family’s outreach stands as a reminder that beyond corporate success and public influence, consistent acts of compassion remain a powerful force in sustaining hope and dignity for Nigeria’s most vulnerable children.

T H I S D AY • mONDAy, DEcEmbER 29, 2025

BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

D E c E m b E R

S & P INDEX

2 4 , 2 0 2 5

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 TO DATE

0.24%

N1,457.68/ 1 US DOLLAR*

OVERNIGHT

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21.37%

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*AS AT FRI., DEcEmbER 26, 2025

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22 Blue-chip Coys’ Market Cap Hit N85.6trn on FX Reforms , C o r p o ra t e E a r n i n g s

Stories by Kayode Tokede The market capitalisation of BUA Foods Plc and 21 other blue-chip firms listed on the Nigerian Exchange Limited (NGX) reached N85.6 trillion as of December 24, 2025, attributable to reforms in foreign exchange market and impressive corporate earnings. Following the reforms, the firms witnessed massive investors buy-interest leading to a massive rally. Consequently, the 22 firms contributed about 87 per cent of the N97.89 trillion market capitalisation of the NGX as of December 24, 2025.

These 22 firms cut across cement makers, financial institutions, Oil & gas, telecommunication, agriculture and Fast-Moving Consumer Goods (FMCG), and power generating companies. Both foreign and domestic/ institutional investors’ demand for these companies has impacted on the market capitalisation that gained N35.13 trillion YtD as of December 24, 2025. The stock market had opened for 2025 at N62.763 trillion, adding nearly 56 per cent or N35.13trillion to close December 24, 2025 at N97.89 trillion.

The 22 companies out of 143 listed companies are often called blue-chip stocks as they are well-established, financially sound, and reputable with a history of reliable performance and regular dividend payout to shareholders. As of December 24, 2025, BUA Cement Plc emerged as the most capitalised stock on the NGX, overtaking MTN Nigeria Communications Plc, and Dangote Cement Plc. The stock price of the food agro-allied company has seen a massive rally in the period under review, following an impressive corporate earning. BUA Foods’s market capitalisation stood at N13.46

trillion as of December 24, 2025 amid 80.24 per cent YtD gain in its stock price that closed December 24, 2025 at N748.00 per share from N415 per share it opened for trading this year. The food manufacturing giant grew its revenue from N1.07 trillion in Q3 2024 to N1.42 trillion in Q3 2025, representing a 33 per cent year-over-year increase. The growth was driven by stronger market demand for its core products, such as Sugar, Flour, Pasta, Rice, and Edible Oils, and as well as the federal government’s staple food import waiver granted under the Tinubu

administration in 2024. The cost of sales rose from N736.98 billion in Q3 2024 to N900.08 billion in Q3 2025, a 22% increase. Consequently, gross profit climbed from N333.82 billion in Q3 2024 to N520.64 billion in Q3 2025. Profit-before-Tax (PBT) surged from N215.66 billion in Q3 2024 to N432.58 billion in Q3 2025, depicting a 100.6per cent increase, whilst the Profit-after-Tax (PAT) rose from N201.39 billion in Q3 2024 to N405.27 billion in Q3 2025, growing robustly by 101per cent year-on-year. BUA Foods was followed by MTN Nigeria Communications with

N10.58trillion market capitalisation as of December 24, 2025. The stock price of MTN Nigeria currently at N505 per share as of December 24, 2025, gaining 152 per cent YtD from N200.00 per share it opened for trading. The growth in stock price is on the backdrop of resurgence from loss to profitability in first quarter 2025 and half year ended June 2025 result and accounts. Further findings showed that MTN Nigeria stock price reached a 52-low of N169 per share this year. The story continues online on www.thisdaylive.com

Ecobank, Bank of China Partner to Strengthen C h i n a -Africa F i n a n c i a l C o o p e r a t i o n Ecobank Group has said it has signed a memorandum of understanding (MoU) with Bank of China (Mauritius) Limited to deepen cooperation in trade, payments and financial services that support economic activity between China and Africa. The memorandum, it said, builds on a partnership established in 2010 and follows renewed engagement

earlier this year, including a recent visit by Ecobank Group’s leadership to Bank of China’s headquarters. “Both institutions agreed to reinforce their long-standing relationship and to work toward practical outcomes that benefit clients across their networks,” the bank said in a statement. Under the memorandum, Ecobank Group and Bank of China (Mauritius) will

explore greater collaboration aligned with the objectives of the China-Africa Cooperation Forum to strengthen trade finance and cross-border settlement. Under the initiative, they will leverage their respective capabilities to support their clients with Renminbi (RMB) solutions by providing African corporates, Chinese enterprises and cross-border traders with more efficient settlement

and financing options. Ecobank Group and Bank of China (Mauritius) will share knowledge and technical expertise related to banking operations and financial sector developments to support sustainable economic and trade growth. Both parties will also explore opportunities to jointly structure syndicated loans and other financing solutions for projects involving

Chinese stakeholders in African markets. CEO of Ecobank Group, Jeremy Awori in a statement said the signing reflects the growing importance of China-Africa commerce and the need for reliable financial infrastructure to support it. “China-Africa economic ties continue to expand, and our customers on both sides rely on efficient and transparent financial solutions,” he said.

“This renewed partnership with Bank of China will help deliver concrete results in trade finance, payments and Renminbi capabilities. “We look forward to integrating this cooperation across our network to better serve clients and strengthen the broader China-Africa economic corridor,” he added. The story continues online on www.thisdaylive.com

M a r k e t d ata a s at W e d n e s d ay, d e C e M b e r 2 4 , 2 0 2 5 BONDS DESCRIPTION Price Yield Change Updated Time (%) ^16.2884 170.00 December 99.42 16.76 24, 2025 mAR-2027 ^19.94 20103.46 16.64 -0.01 December mAR-2027 24, 2025 ^13.98 2394.94 16.83 0.01 December FEb-2028 24, 2025 ^21.00 20107.42 16.82 -0.01 December mAR-2028 24, 2025 ^14.55 26105.58 16.99 0.00 December APR-2029 24, 2025

BILLS MATURITY NTb 8-Jan26 NTb 5-Feb26 NTb 5-mar26 NTb 9-Apr26 NTb 7-may26

Discount Yield 15.32

15.42

15.55

15.84

15.70

16.19

15.77

16.52

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16.88

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-0.01 December 24, 2025 0.41 December 24, 2025 December -0.01 24, 2025 -0.07 December 24, 2025 -0.04 December 24, 2025

EULL cP IX 18-JAN-26 SKIS cP XV 23-JAN-26 VAAG cP XII 2-FEb-26 DANc cP XXI 11-mAR-26 NEVE cP II 3-APR-26

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CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS DEc 13m – 30 2026 NGUS JAN 14m – 27 2027 NGUS FEb 15m – 24 2027 NGUS mAR 16m – 31 2027 NGUS APR 17m – 28 2027

Updated Time

December 24, 2025 December 24, 2025 December 24, 2025 December 24, 2025 December 24, 2025

T H I S D AY • Monday, deceMber 29, 2025

bUSIneSSWorLd

econoMy

How NPA Transformed Maritime Sector in 2025

Under the leadership and guidance of the Minister of Marine and Blue Economy, Adegboyega Oyetola, the Managing Director/ CEO, of the Nigerian Ports Authority, Dr. Abubakar Dantsoho transformed the agency and the maritime sector in 2025. Eromosele Abiodun presents the major achievements that put the agency and Nigeria on the global stage during the year

ince his appointment in July 2024 as the Managing Director/CEO, of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho has revitalised the agency, turning Nigeria’s ports into models or hubs of efficiency that bolster the national economy. Following Dantsoho’s reforms, the NPA is currently riding a wave of unprecedented growth, making 2025 as a year of transformation for the country’s maritime sector. The numbers reflect this success: under Dantsoho’s stewardship, sustained port efficiencies helped propel Nigeria’s international trade to N5.81 trillion in the third quarter of 2024. His impact extends to national fiscal policy, where he successfully implemented the presidential mandate to trade petroleum in Naira, reducing the strain on the country’s forex reserves. By integrating Nigeria into the International Port Community System Association (IPCSA) and championing the National Single Window project, he has ushered in a new era of transparency. His visionary leadership was recently honored with the Award of Excellence for his role in modernizing maritime infrastructure. The NPA’s achievements in 2025 are a clear indication to its focus on excellence and innovation. From berthing its first wholly Nigerianowned container vessel to posting impressive performance metrics, NPA is solidifying its role in shaping Nigeria’s maritime future. Nigeria’s re-election to the International Maritime Organisation (IMO) Council after 14 years hiatus marked a significant milestone, reflecting the country’s growing influence in global maritime affairs. “This development reflects the international community’s confidence in the nation’s commitment to safety, security, environmental stewardship, and rules-based maritime operations,” said Bayo Onanuga, Special Adviser to the President on Information and Strategy in a statement given to Persecondnews. Impressed with the development, President Bola Tinubu applauded the Minister of Marine and Blue Economy, Adegboyega Oyetola, and the diplomatic team for their dedication and strategic engagement. Tinubu expressed gratitude to member states for their support, stating, “Nigeria will justify the trust reposed in it through sustained leadership and active contribution to the advancement of international maritime objectives.” The election, Tinubu added, marked a significant milestone in Nigeria’s maritime history, with the country joining 19 other nations in Category C, reserved for countries with special interests in maritime transport and navigation. On his part, Oyetola hailed the win as “a landmark endorsement of the renewed confidence the world has in Nigeria under President Bola Ahmed Tinubu’s leadership.” Dantsoho also congratulated the Minister and Nigeria on this outstanding milestone, stating, “Nigeria has spoken boldly on the global stage, and today, the world is listening.” In July 2025, the berthing of MV Ocean Dragon, a 349 TEU container vessel, equally marked a breakthrough in Nigeria’s maritime sector. “We are fascinated that MV Ocean Dragon is wholly Nigerian, aligning with President Tinubu’s ‘Nigeria First’ policy and NPA’s focus on Nigerian content development,” said Dantsoho. The vessel, experts said, will boost regional

trade and reduce logistics costs. The vessel owned by Clarion Shipping West Africa Limited, has a capacity of 349 Twenty-Foot-Equivalent Units (TEUs) and is set to operate across West Africa and beyond, servicing ports in several countries including Nigeria, Benin Republic, Togo, Ghana, and South Africa. The MV Ocean Dragon is expected to give a boost to concerted investment drive geared towards reaping the cost and time-saving benefits of short-sea shipping. By offering an efficient alternative to road transport, the vessel will help reduce logistics costs and increase revenue for the country. According to Bernadine Eloka, Vice President of Clarion Shipping West Africa Limited, the acquisition of the vessel is a bold solution to the high-risk, road-dominated movement of cargoes within Nigeria and a strategic move to deepen regional trade under the African Continental Free Trade Area (AfCFTA). A fresh $60 million investment in green port initiatives is set to transform the NPA’s operations, driving a renewed focus on local content development. These sustainability efforts are backed by record-breaking performance metrics. In the third quarter of 2025 alone, the NPA saw export-laden container volumes skyrocket by 1,085 per cent, while total cargo throughput climbed by 16.2 per cent, marking a stellar period of maritime growth. Container operations were a key driver of this growth, with total container traffic rising by 18.9 per cent to 546,931 TEUs. Import-laden containers also witnessed an increase by 33.1 per cent to 268,713 TEUs, while export-laden containers jumped to 69,039 TEUs from 5,812 TEUs in Q3 2024. “The sharp rise in export containers also led to a 21.5 per cent reduction in empty container traffic, signalling improved balance between imports and exports and stronger non-oil export activity,” according to operational data released by NPA in December. Ship traffic also saw significant growth, with vessel calls up by 8.4 per cent to

1,074 ships and total Gross Registered Tonnage (GRT) rising by 18 per cent to 42.64 million. Lekki Deep Seaport emerged as the dominant growth driver, handling 46.8 per cent of total cargo, followed by Onne Port with 17 per cent. In terms of vessel size, Lekki Port received the largest ships, with an average GRT of 57,244. Attributing the strong performance to the federal government’s export-driven economic reforms and growing investor confidence, Dantsoho said: “The figures reflect improved operational efficiency across all pilotage districts.” He highlighted ongoing port modernisation efforts and digital platform expansions. Another significant milestone in Nigeria’s maritime history was recorded with Dantsoho’s election as the International Association for Ports & Harbours (IAPH), Vice-President for Africa. This achievement, confirmed by NPA spokesperson Ikechukwu Onyemekara following the August election in Tokyo, underscores the authority’s rising influence on the global stage. Welcoming the appointment, IAPH Secretary-General Masahiko Furuichi expressed his enthusiasm for their future collaboration. This international role follows another historic first: Dr. Dantsoho became the first Nigerian since 1972 to lead the Port Management Association of West and Central Africa (PMAWCA), further cementing his role in restoring Nigeria’s leadership in global maritime affairs. IAPH is a non-governmental organisation (NGO) headquartered in Tokyo, Japan. In November 1955, some 100 world port leaders gathered in Los Angeles to announce the creation of IAPH. Over the past six decades, IAPH has developed into a global alliance of ports, representing today some 190 ports and 167 port-related businesses in 89 countries as of 6 December 2024. The member ports together handle well over 60 per cent of the world’s sea-borne trade and over 60 per cent of the world container traffic.

NPA capped off 2025 with a notable achievement in Q3, launching the Electronic Call-Up System at Onne Port in Rivers State. This move aims to tackle persistent traffic congestion, boosting efficiency and streamlining operations at the port. The system, which has been delayed, had led to significant financial losses for truck park investors and encouraged unregulated activities. “The commencement of the Call-Up system will restore order, enhance port efficiency, and safeguard investments,” said Chairman of the Nigerian Port Consultative Council (NPCC), Onne Chapter, Mr. Godwin Ololuke, after meetings with NPA management. Final preparations are now complete for the rollout of an electronic truck-call-up system designed to streamline traffic movement and enhance port safety. Truck driver Johnbull Igbikiowubo praised the initiative, emphasizing that the cooperation of all maritime stakeholders will be the defining factor in its success. “The cooperation of all stakeholders is essential for the benefit of everyone involved and the nation’s economy,” he said. The e-call-up system is expected to curb extortion by non-state actors, who reportedly collect N1,000 per truck, and also improve overall port operations. NPA is poised for a landmark transformation in 2026, driven by a strategic blend of investment, innovation, and infrastructure expansion. During a Citizens’ Engagement Meeting held this December in Abuja, Dantsoho and the Minister of Marine and Blue Economy, Dr. Gboyega Oyetola, outlined a visionary roadmap for Nigeria’s blue economy. At the heart of this strategy is a $1 billion port rehabilitation and modernization project. This initiative involves the wholesale reconstruction of key ports and the implementation of a Port Community System (PCS) and initiative of the Nigerian Ports Authority (NPA), slated for a 2026 launch. While the PCS concept originated in Europe during the 1970s to digitize maritime hubs like Rotterdam and Hamburg, its adoption in Nigeria is specifically tailored to the federal government’s Renewed Hope Agenda. The story continues online on www.thisdaylive.com

MONDAy, DECEMBER 29, 2025 • T H I S D AY

BUSINESSWORLD

FEATURE

Simba TVS Partners Credicorp to Empower 10,000 Women as Mobility Entrepreneurs

Mary Nnah Simba TVS, the pioneer of the Queen Riders Programme, Nigeria’s largest women-focused automobile empowerment initiative, has strengthened its partnership with the Consumer Credit Corporation of Nigeria (CREDICORP) and Gamma Mobility in support of the Federal Government-led Mobility Programme aimed at economically empowering 10,000 women nationwide. The collaboration was officially launched in the Federal Capital Territory, where CREDICORP, in partnership with Gamma Mobility, Sub-city handed over a fleet of “TVS King Deluxe Plus” Tricycles (popularly known as Keke), alongside certificates of proficiency, to women trained by Simba TVS as professional riders under the Queen Riders initiative. The Programme is designed to expand access to consumer credit while accelerating women’s participation in Nigeria’s commercial transport sector. Speaking on the Programme, Simba TVS management emphasised that the company

intentionally prioritises women due to their critical role as drivers of economic growth. The Queen Riders Programme was described as a transformative initiative that empowers women through comprehensive tricycle riding training, technical capacity building, and entrepreneurship support. “At Simba TVS, women’s empowerment means access to skills, reliable tools, and real opportunities, a platform to express independence, confidence, and dignity. These TVS Tricycles are not just vehicles; they are income-generating assets that will enable women to build sustainable businesses, earn steady livelihoods, and support their families. We are proud to lead the Queen Riders Programme alongside partners who share our commitment to inclusive growth,”the company said. The management further reaffirmed that the Queen Riders initiative represents a broader societal movement that challenges long-standing barriers

limiting women’s participation in the transportation sector. Simba TVS reiterated its long-term commitment to ensuring the Programme continues to open pathways for women in traditionally male-dominated industries, noting that inclusive economic participation is critical to national development. Speaking at the event, CREDICORP Managing Director, Uzoma Nwagba highlighted the long-standing relationship between CREDICORP and Simba TVS, noting that the partnership has been built on trust, shared values, and a commitment to delivering practical mobility solutions. He revealed that the CREDICORP leadership has undertaken several visits to the Simba TVS assembly plant in Lagos, which, according to him, reinforced confidence in the company’s manufacturing standards, local capacity, and long-term commitment to Nigeria’s mobility and industrial development. Nwagba explained that the initiative deliberately integrates consumer credit,

BUSINESSWORLD

asset provision, professional training, and structured business support, adding that Gamma Mobility plays a critical role in programme execution and operational support, ensuring that beneficiaries are well-positioned for long-term success. Beneficiaries of the programme expressed appreciation to Simba TVS, CREDICORP, and Gamma Mobility, with one participant stating that the initiative gave her the confidence to pursue a livelihood she once believed was unattainable. She noted that the training and support she received equipped her with essential riding and basic maintenance skills, enabling her to contribute meaningfully to her household income. The Queen Riders Programme is a womenfocused empowerment initiative by Simba TVS that provides training, certification, and access to tricycles for women from underrepresented backgrounds, unlocking pathways to financial independence and economic resilience. Simba TVS Queen Riders, empowering women, enriching lives, and strengthening the nation.

PERSPECTIVE

Strategic Shift: Nigeria’s Move to Diversify Oil Trade Payments

Isaac Megbolugbe

Introduction President Bola Tinubu’s recent announcement to diversify oil trade payments to include local currencies marks a significant milestone in Nigeria’s economic strategy. This bold move echoes the structural realignment made by former President Olusegun Obasanjo, who shifted Nigeria’s foreign reserve currency from the sterling pound to the US dollar. These decisions demonstrate a keen understanding of global economic trends and a willingness to adapt to changing capital flows. A Tectonic Shift in Global Economy Architecture Diversifying oil trade payments is more than just a policy change; it’s a strategic move to position Nigeria at the forefront of the evolving global economy. By including local currencies, Nigeria aims to reduce its dependence on the US dollar, mitigate exchange rate risks, and increase trade efficiency. This shift is particularly significant as it reflects a broader trend of countries seeking to reduce their reliance on traditional reserve currencies. Mastery of Historic Cycle of Finance Tinubu’s administration is demonstrating a depth of mastery over the historic cycle of finance by repositioning Nigeria early in response to emerging trends. This move is expected to have far-reaching implications for Nigeria’s economy, including: - Increased Trade Efficiency: Using local currencies can simplify trade transactions and reduce costs. - Reduced Dependence on US Dollar:

Diversification can mitigate risks associated with exchange rate fluctuations. - Enhanced Economic Sovereignty: Nigeria gains more control over its economic destiny. Diversifying Oil Trade Payments Nigeria’s decision to diversify oil trade payments to include local currencies is a strategic move that could have far-reaching implications for the country’s economy. By reducing its dependence on the US dollar, Nigeria aims to mitigate exchange rate risks, increase trade efficiency, and enhance economic sovereignty.

Benefits of Diversification - Reduced Vulnerability to Oil Price Shocks: Diversifying oil trade payments can help Nigeria reduce its vulnerability to oil price fluctuations, which have historically had a significant impact on the country’s economy. - Increased Trade Efficiency: Using local currencies can simplify trade transactions and reduce costs, making it easier for Nigeria to engage in international trade. - Enhanced Economic Sovereignty: By reducing its dependence on the US dollar, Nigeria can gain more control over its economic destiny. Challenges and Opportunities - Infrastructure Development: Nigeria will need to invest in infrastructure, such as payment systems and financial institutions, to support the use of local currencies in international trade. - Policy Stability: Nigeria’s ability to implement and sustain policy reforms

will be crucial to attracting investment and promoting economic growth. - Regional Cooperation: Diversifying oil trade payments could also promote regional cooperation and integration, particularly within the African Continental Free Trade Area (AfCFTA)

Key Sectors to Focus On - Agriculture: Nigeria has significant potential in agriculture, and investing in this sector could help reduce its dependence on oil exports. - Solid Minerals: Nigeria is rich in solid minerals, and developing this sector could provide a significant boost to the economy. - Technology and Manufacturing: Investing in technology and manufacturing could help Nigeria diversify its economy and create jobs. Overall, Nigeria’s decision to diversify oil trade payments is a bold move that could have significant benefits for the country’s economy. However, the success of this initiative will depend on Nigeria’s ability to implement policy reforms, invest in infrastructure, and promote regional cooperation. Oil Payments Diversification and Technology Sectors Nigeria’s decision to diversify oil payments to include local currencies is expected to have a significant impact on the country’s technology sector. By reducing dependence on the US dollar, Nigeria aims to mitigate exchange rate risks, increase trade efficiency, and enhance economic sovereignty.

Boost to Digital Payments and Fintech The diversification of oil payments is likely to accelerate the adoption of digital payments and fintech solutions in Nigeria. With more local currencies in circulation, there will be an increased demand for secure and efficient payment systems, driving growth in the fintech sector. Companies like Flutterwave and Paystack are already leading the charge in Nigeria’s fintech space. Increased Investment in Technology Infrastructure To support the diversification of oil payments, Nigeria will need to invest in its technology infrastructure, including payment systems, data centers, and cybersecurity measures. This investment is expected to create new opportunities for technology companies and drive innovation in the sector. Improved Access to Technology The diversification of oil payments is also expected to improve access to technology, particularly in rural areas. With more local currencies available, Nigerians will be able to afford smartphones, laptops, and other digital devices, driving growth in the technology sector. Challenges and Opportunities While the diversification of oil payments presents opportunities for the technology sector, there are also challenges to be addressed. These include:

The story continues online on www.thisdaylive.com

T H I S D AY FRIDAY DECEMBER 29, 2025 20 TR

UT H

& RE A S O

Monday December 29, 2025 Vol 27. No 11225

opinion@thisdaylive.com

www.thisdaylive.com

FREE TRADE ZONES AND THE NEW TAX REGIME W. Y. MAMMAN argues the need to balance fiscal oversight with wellconsidered incentives for industrial growth

See page 21

GAINS, PAINS OF THE TELECOM SECTOR

The industry’s gains are at the expense of service quality and consumer welfare, contends ELVIS EROMOSELE

See page 21

EDITORIAL

THE SCOURGE OF FIRE OUTBREAKS

See page 22

KINGSLEY NDUBUEZE AYOZIE lists measures needed to win the war against the cankerworm

TACKLING CORRUPTION IN THE POLITY

According to the 2023 Transparency International's survey on "Corruption Perception Index" , Nigeria scored 25 on a scale from 0 ("highly corrupt ") to 100 ("very clean"). When ranked by score, Nigeria ranked 145th among the 180 countries in the index, whereas the country that is ranked first is presumed to have the most honest public sector during the period under review. No doubt, it may be practically impossible to have a completely corruption - free society in our time, However the likes of Denmark, Finland, New Zealand, Norway, Singapore, and Sweden are adjudged as the least corrupt countries with low corruption perception in the world's ranking, while the most apparently corrupt countries are the likes of Syria, South Sudan and Venezuala (scoring 13) alongside Somalia ( scoring 11) as captured under the Corruption Perception Index (CPI). There is no doubt that corruption is an ill wind that blows no one any good. In all honesty, this canker worm has eaten deep into our system. Its devasting impact have become so worrisome and alarming especially in later years within our polity thereby depriving us both individually and collectively our shared values. This write up will be focusing primarily on the role expected of professional accountants to effectively play in order to stem, mitigate or possibly eradicate this canker worm known as "corruption" and possibly bring the name of Nigeria among the lists of countries with low corruption perception globally. The word corruption does not have a universal definition. In the words of Klitgard (1996), he used a simple equation to illustrate the nature of corruption which is represented thus: Corruption= (Monopoly + Discretion) - (Accountability + Transparency + Integrity). Another school of thought sees corruption in this like manner: Abuse of office for personal gain. · Wrong doings that are incompatible with norms or value systems. · Abuse of entrusted power for private or personal gain. · Combination of bribery, fraud & other related acts. · It may further connote the act or process of corruption. Aside the above description of corruption, a better understanding of this term can also be found inside those "offences" listed or as defined by the Independent Corrupt Practices & Other related Offenses Commission (ICPC) Act of 2000 as

amended. The ICPC's Act of 2000 as amended looked at corruption as an: · Offence of accepting gratification. · Offence of fraudulent acquisition of property. · Offence of giving and accepting gratification through an agent. *Acceptor or giver of gratification. · Offence of fraudulent receipt of property. · Offence of making false statements/ returns. · Bribery of pubic officer or officials. · Using office/position for gratification. · Above all, offence of inflating the prices of commodities above prevailing market price or rate, etc. In addition to the ICPC's description of the term corruption as enumerated above, Asaolu summarized the following as forms of corruption or corruptible offenses: Embezzlement; fraud; extortion; nepotism, cronyism and vastly, bribery (kick backs, payoffs). It is worthy of note to state that the effect of corruption on our society with emphasis on the public sector environment can be summarized using the mnemonic called PESTLE in the school of management representing political costs, economical costs, social costs, technological costs, legal costs and environmental costs · Political Costs: By this, the issue of corruption undermines our democratic values and principles within our governance structure. · Economic Costs: This can be viewed from the angle of rechanneling our public resources to the wrong destination. · Social Costs: By this end, the issue of corruption reduces the public confidence and trust on our governance system. · Technological Costs: Under this, the incidence of corruption can lead to wrongful investment in an unprofitable or lesser rewarding venture. · Legal Costs: The incidence of corruption can result to unwanted litigation suit and

court cases here and there which often time may not be completed if not squashed. · Environmental Costs: Corruptible tendencies can result to unnecessary or careless exploitation of our collective natural resources further causing degradation and eventually the pollution of the ecosystem. In our present day world where every individual or person sees wealth aggrandizement or illegal property acquisition as the order of the day, there is need for us as professional accountants to collectively look inwardly on how to mitigate or eradicate the incidence of corruption within our society. From all indications the professional accountants have a pivotal role to play in the fight against corruption. It appears that by virtue of our actions and inactions as professionals, we ultimately hold the key to unlocking the nation out of this cankerworm that have ravaged the nation. The negative impact of corruption often time spells doom both to their targeted victims, society in particular, the public and the government at large. Ironically, corruption cases cut across geographical boundaries which incidentally makes it an issue of utmost concern to us as the world is indeed a global village. No doubt, their negative impact both on their victims, government, and society at large have been highly devastating and mind blowing. Our roles as accountants can be summarized in this manner: · By promoting transparency, accountability and integrity at all levels. · By openly condemning the incidence of bribery and corruption whenever it crosses our path. · By refusing to accept and give bribes to both public or private official. · By refusing to serve as a conduit pipe through bribery and corruption. · By exposing all corruptible tendencies within the system without fear or favour. · By educating the masses on and against the dangers inherent or associated with bribery, corruption and related offences. · By enlisting and fostering public support in the fight against bribery and corruption. · By eradicating the incidence of corruption at all costs within our domain in particular and the public at large. · By instructing, advising and assisting the commission (ICPC') in the ways by which fraudulent practices, embezzlement and corruption can be eliminated or minimized to the bearest minimum under worse scenario. Dr Ayozie FCTI, FCA is a Public Affairs Analyst

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FRIDAY DECEMBER 29, 2025

W. Y. MAMMAN argues the need to balance fiscal oversight with well-considered incentives for industrial growth

FREE TRADE ZONES AND THE NEW TAX REGIME

There is no doubt that the recently enacted Nigeria Tax Act, 2025 comes with a lot of benefits, chief among being the simplification and merging of many burdensome regulations, which were quite befuddling to many tax payers. As with all good initiatives, there are unintended consequences, which policymakers must address in order not cause more harm than the intended good. Nigeria’s Free Trade Zones (FTZs) have served as an important instrument for industrialisation, investments promotion and export-oriented economic growth. These objectives were enshrined under the Nigeria Export Processing Zones Act, Cap. N107 LFN 2004, particularly sections 1,2,3,8 and section 18 and expanded under the Oil and Gas Export Free Zone Authority Act, Cap. O5 LFN 2004. These statutes historically granted broad incentives, including full tax exemptions, duty-free importation under NEPZ Act Cap. N107 LFN 2004 sections 23-24 and unrestricted repatriation of capital under section 18(1)(d). The FTZ framework historically provided broad tax exemptions, duty-free importation of machinery and raw materials, and the ability to repatriate profits without restriction from the Nigerian government. With the enactment of the Nigeria Tax Act 2025 (section 60 and the Second Schedule), these incentives have been recalibrated. For the avoidance of doubt, we invite you to the provision of section 60 of the NTA 2025, which states thus: “where a trade or business is carried on by an export processing or export free zone entity, the provisions of the second schedule to this act shall apply.” For us to understand of the statute, recourse shall be made to the second schedule of the act, which borders mainly on export processing and free trade zone entities. The schedule has new provisions, which if not reviewed, has the potential to erode investors’ confidence and jeorpardise future investments in these zones. The most troubling amongst these is the imposition of taxes on profits from 2028, completely negating the spirit and vision behind the establishment of FTZs. Before the advent of the Nigeria Tax Act 2025, the Nigerian Free Trade Zones benefited from the following incentives: Exemption from federal, state, and local taxes. Duty-free importation of capital equipment, raw materials, and intermediate goods. Freedom to repatriate profits and dividends. This framework allowed FTZ operators to plan long-term investments based on a predictable fiscal environment. Historically, these provisions under the 2004 Act were considered automatic and unconditional for qualified enterprises. These are not the same in the 2025 Act. The Nigeria Tax Act 2025 (Section 60 and the second schedule) amends the FTZ legal regime under the NEPZ Act

Cap. N107 LFN 2004 and OGEFZA Act, Cap. O5 LFN 2004 by introducing conditional exemptions and specific compliance requirements: Conditional Tax Exemption: Tax exemption applies only to profits derived from exports of goods or services. Domestic sales are partially exempted. Sunset Clause: From 1 January 2028, profits from domestic sales will be fully taxable, regardless of the 25% threshold. Filing Obligations: FTZ operators must file returns with the Federal Inland Revenue Service (FIRS), even if no tax is due. These provisions reflect a deliberate transition from a blanket exemption model to a conditional, export-focused tax regime, in an attempt to align incentives with the intended purpose of FTZs. The NTA 2025 amendments as enacted by the National Assembly represent the primary legal authority governing FTZ taxation. Previous debates regarding FIRS’s power to reinterpret or limit exemptions have been resolved; section 60 (supra) of the NTS 2025 now defines the conditions for exemption in FTZs. The law maintains exemptions for enterprises that comply with export-oriented criteria. Therefore, companies that derive the majority of revenue from exports, limit domestic sales within the prescribed 25% threshold, and file returns as required retain full legal entitlement to tax benefits. The filing obligation and monitoring of domestic sales introduced formal compliance mechanisms. Failure to adhere to these requirements may result in revocation of tax-exempt status and exposure to regular corporate taxation. Legal clarity on record-keeping and reporting standards is, therefore, critical for operators. The 1st January 2028 sunset clause mandates taxation of domestic sales profits regardless of threshold compliance. Operators must incorporate this deadline into strategic and financial planning, particularly when projecting future domestic market engagement. This, no doubt, is a burdensome requirement that makes Nigeria’s FTZs uncompetitive when compared to other jurisdictions. With many countries, some in West Africa, seeing FTZs as vehicles to attract investments and industrialise their economies, Nigeria cannot afford to place additional burden on its FTZs. Mamman, Esq. is with Mamman, Maiyaki & Co. Munatare Chambers based in Abuja

The industry’s gains are at the expense of service quality and consumer welfare, contends ELVIS EROMOSELE

GAINS, PAINS OF THE TELECOM SECTOR

In 2025, Nigeria’s telecommunications sector finds itself at a defining moment. Once celebrated as one of the country’s most successful liberalisation stories, the industry now sits between resilience and public discontent. While operators are recording higher revenues and data usage continues to grow, consumers are increasingly frustrated by rising costs, inconsistent service quality and controversial billing practices. The story of Nigeria’s telecom sector in 2025 is therefore one of gains, pains, and an urgent need for a clearer path forward. Despite economic headwinds, inflation, naira depreciation and rising operational costs, the telecom industry has remained one of Nigeria’s most resilient sectors. Data consumption continues to surge. Even after a significant upward review of tariffs in early 2025, Nigerians did not reduce their reliance on mobile internet. On the contrary, data usage recorded double-digit growth within months, underlining how deeply connectivity has become embedded in daily life, from business and banking to education, entertainment and social interaction. Operators also benefited financially from the long-overdue tariff adjustment. For more than a decade, telecom prices remained largely static while costs soared. The 2025 tariff increase improved cash flows and strengthened the balance sheets of major players, enabling them to better absorb forex pressures and rising energy expenses. Industry analysts estimate that data services alone could generate trillions of naira in revenue this year. In addition, Nigeria’s teledensity remains strong, and mobile broadband penetration continues to expand, reinforcing telecoms as a critical pillar of the digital economy and a major contributor to GDP. While operators speak of sustainability, many subscribers feel the burden has shifted squarely onto them. The 2025 tariff hike, affecting voice, data and SMS, sparked widespread backlash. For millions of Nigerians whose incomes have not kept pace with inflation, the cost of staying connected has become increasingly painful. Students, small businesses and low-income earners are particularly affected, as connectivity is no longer a luxury but a necessity. More troubling for consumers is that higher prices have not translated into better service. Complaints about slow internet speeds, frequent network outages, dropped calls, and inconsistent coverage remain common across major networks. In many areas, especially outside urban centres, service quality remains unreliable. Infrastructure challenges play a major role. Frequent fibre cuts, vandalism of base stations, power shortages and high diesel costs continue to undermine network performance. Operators spend billions annually repairing damaged infrastructure, costs that ultimately find their way back to subscribers.

This disconnect between price and performance has eroded trust. Many users now question whether the industry’s gains are coming at the expense of service quality and consumer welfare. Another flashpoint in 2025 has been the controversy surrounding USSD services, which are widely used for mobile banking and financial transactions. Under a new billing model, telecom operators now charge subscribers directly for USSD sessions, rather than billing banks. While the move brought clarity and ended years of opaque deductions, it also introduced new costs for users, particularly those who rely heavily on USSD for daily transactions. For low-income Nigerians and those without smartphones or mobile apps, USSD remains the most accessible gateway to financial services. Even modest per-session charges can quickly add up, raising concerns about financial inclusion and affordability. The USSD debate highlights a recurring theme in Nigeria’s telecom space: reforms that make business sense but risk alienating the very consumers the sector depends on. For Nigeria’s telecom sector to thrive sustainably beyond 2025, several issues must be addressed decisively. First, service quality must improve. The Nigerian Communications Commission (NCC) must enforce stricter quality-ofservice benchmarks and ensure that tariff increases are matched by measurable network improvements. The NCC has barked enough; it must now show that it can bite. Consumers deserve value for money. Second, infrastructure protection should be treated as a national priority. Telecom assets are critical infrastructure and should be safeguarded accordingly. Reducing vandalism and fibre damage would significantly improve service reliability and reduce costs. Third, regulatory and operating costs need reform. High right-of-way charges, multiple taxation and inconsistent statelevel policies continue to inflate operating expenses. Harmonising these costs would ease pressure on operators and, in the long run, subscribers. Eromosele, a corporate communications expert and sustainability advocate, wrote via: elviseroms@gmail.com

22 4

T H I S D AY

EDITORIAL

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

FRIDAY DECEMBER 29, 2025

THE SCOURGE OF FIRE OUTBREAKS Regulators should do well to enforce the fire codes

enforced. We have had more than enough fire tragefter several hours of darkness, elecdies that ought to have warranted the entrenchment tricity was restored to the Kofar Sauri of various forms of mechanism by the operators of community in the metropolitan area public and private places to reduce occurrences. Most of Katsina State in the early hours of irksome is that some of the incidents culminating in 1st December 2025. But it came in this colossal damage were caused by the careless athigh voltage, and the unusual power titudes of individuals who failed to learn any lesson surge reportedly resulted in an inferno which claimed from similar developments in the past. The late-night a family of five. Most of the household items were fire which recently gutted the female hostel annex of burnt. At about the same time, a fire outbreak deGombe State University, was triggered by a cooking stroyed parts of the popular Gombe timber market, gas explosion after a student reportedly left food unknown as Kasuwar Katako, along the Railway Staattended on a lit gas cylinder. The blaze caused pantion area of the state capital. The inferno occurred afic among residents of the hostel many of whom lost ter traders had closed for the day, razed several shops personal effects and valuables. and goods and disrupted the livelihoods of many We call on the federal, state and local governments hardworking residents who depend on the market for to come up with sound and effective survival. mechanisms to protect important Fire outbreaks in Nigeria are a Our urban planners should ensure that there is places, buildings, markets and instirecurring menace driven by electutions from fire incidents. We also tricity sources, carelessness and enough access points through which fire fighters challenge the government to as a matsystemic regulatory failures. In ter of urgency, deliberately revamp the heart of the dry season, they and emergency personnel could gain entrance to and mobilise the fire service to percome in epidemic proportions. form optimally. Stringent measures put off a fire before it spreads From the fire outbreak in Barishould be put in place to punish any ga Market where several shops T H I S D AY individual or group which carries out any activity rewent up in flames, to the popular Alaba market, to EDITOR SHAKA MOMODU sulting in inferno. DEPUTY EDITOR WALE OLALEYE the Mandilas market, the Elegushi Model Market MANAGING DIRECTOR ENIOLA BELLO Meanwhile, early detection of fire is a crucial step complex in Lekki, and the Great Nigeria Insurance DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU in fire prevention, and this should be ensured through building in Lagos where three dead bodies have been CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI individual alertness, volunteer system, and the instalrecovered, there is need for a better appreciation of EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN lation of automatic fire detection systems at various THE OMBUDSMAN KAYODE KOMOLAFE the challenge posed by fire outbreaks. Barely three points in buildings. Our urban planners should also months ago, at least ten people lost their lives to the ensure that there is enough access points through fire outbreak in the Afriland building, credited to an which fire fighters and emergency personnel could inverter malfunction. Indeed, the Lagos State Fire gain entrance to put off a fire before it spreads. There T H I S D AY N E W S PA P E R S L I M I T E D and Rescue Service (LSFRS) chart showed that it reEDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA have been several cases, especially in markets across sponded to 1,072 emergency incidents in the first half GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, the country where limited access for fire fighters of 2025, with 922 of them fire calls. ISRAEL IWEGBU made it difficult for them to attack the inferno which DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, In many countries, it is not just enough to design razed buildings. ANTHONY OGEDENGBE and construct buildings; it is more important to make DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI To reduce the increasing regularity of fire outbreaks allowances for a possible outbreak of fire by ensuring SNR. ASSOCIATE DIRECTOR ERIC OJEH and the attendant dangers to lives and property, it is the availability of fire-fighting equipment in such faASSOCIATE DIRECTOR PATRICK EIMIUHI important to step up advocacy on the issue; conduct CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI cilities. While we are aware that such codes and regDIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO regular fire drills in public buildings, and enforce exulations are available here in Nigeria, they are rarely TO SEND EMAIL: first name.surname@thisdaylive.com isting fire codes.

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

LETTERS

TERRORIST GROUPS AND NIGERIA’S SOVEREIGNTY Bandits, Lakurawa, Ansaru (Jama’atu Ansarul Muslimina Fi Biladis Sudan) and other terrorist groups have been terrorising Nigerians through killings, kidnappings, and rape. They have displaced thousands of people, carved out territories for themselves, collected taxes, and effectively governed parts of the NorthWest and North-Central regions. For 13 years, the violent separatist group IPOB/ESN, designated a terrorist organization by the Federal Government, has been operating in southeast Nigeria, terrorizing the region through armed attacks on security forces, the enforcement of sit-at-home orders, and the killing and coercion of citizens to obey its directives. For over 15 years, Boko Haram and ISWAP have established their authority on soft targets in some parts

the North-East, as well as attacking military formations, killing and kidnapping civilians, and carrying out suicide bombings against innocent people. From the North-East to the North-West and North-Central regions, both local and foreign terrorist groups have carved out territories within Nigeria, killing and kidnapping innocent citizens, collecting taxes, imposing their own laws, displacing hundreds of people and brazenly displaying their weapons in public and on social media platforms. On December 25, 2025, the United States, with the coordination and approval of the Nigerian government, launched 16 GPS-guided missiles at terrorist targets in parts of Sokoto State. As a result, some debris fell in Jabo and Offa. In Jabo, the debris fell on open

fields while in Offa, two hotels were hit. Nigeria’s failure to completely eliminate these terrorists has brought the country to this point. No nation welcomes foreign military intervention on its soil. However, which constitutes a greater infringement on Nigeria’s sovereignty: the existence of local and foreign terrorist groups operating freely, killing, kidnapping, conducting suicide bombings, collecting taxes, and displacing innocent citizens from their lands, homes and places of businesses for nearly two decades, or a few hours of a U.S. missile strike authorised by the Nigerian government? Zayyad I. Muhammad, Abuja

MONDAY, DECEMBER 29, 2025 • T H I S D AY

DOZZY v. IBETO: FACTS REMAIN STUBBORN As the year draws to a close and individuals across the globe attend to unfinished business in preparation for 2026, it is noteworthy that certain unresolved matters dating back to 2016–2017 have once again resurfaced, refusing to fade into obscurity. This development, though regrettable, calls for factual clarification. Recently, a publication attributed to Chief Cletus Ibeto and companies associated with him came to public attention, containing assertions relating to the long-standing and unresolved US$3,000,000.00 (Three Million Dollars) transaction involving Dozzy Oil & Gas Limited. While it is not our practice to engage in public exchanges or self-serving narratives, it has become necessary, in the interest of accuracy, to correct certain misleading impressions created by that spurious, inane and infantile publication. Background and Efforts at Amicable Resolution Those who have followed this matter closely would reasonably have expected it to have been resolved many years ago. Indeed, several respected Nigerians and eminent sons of Igboland undertook sincere efforts to facilitate an amicable settlement. These interventions included engagements involving Chief Emmanuel Iwuanyanwu (of blessed memory) and other distinguished Igbo leaders. One such mediation meeting took place in Guzape, Abuja, at the residence of a Senior Advocate of Nigeria from Umudim, Nnewi, under the supervision of Chief Emma Bishop Okonkwo. At that meeting, it was acknowledged that Dozzy was owed the sum in question. Chief Ibeto explained that Ardeja Trading Limited, to whom the funds had been transferred by Dozzy in September and October 2015, were his suppliers, and requested time to reconcile the transaction with them before repayment. Although differences emerged regarding the proposed repayment structure, a clear understanding was reached that repayment would be completed within ninety (90) days. Regrettably, this understanding was not honored, nor was any formal feedback provided to the mediating committee thereafter. Dozzy’s position has remained consistent and straightforward: the recovery of its funds, with applicable interest, and nothing more.

of the dispute; • Official survey reports situating the property within the NITECO Shipyard Layout rather than the location earlier represented. These findings speak for themselves and require no embellishment. The Ardeja Trading Limited Transfers Documentary evidence submitted to the EFCC confirms that US$6,000,000.00 (Six Million Dollars) was transferred by Dozzy in two tranches to accounts designated by Chief Ibeto in 2015, as reflected in First Bank of Nigeria Limited telex transfer records. While parties acknowledged the payment of the first US$3,000,000.00 (Three Million Dollars) the second transfer of US$3,000,000.00 (Three Million Dollars) remained unpaid, with disagreement then and limited solely to exchange-rate computation. On Claims of “Business Support” Assertions suggesting a mentoring or benefactor relationship between Chief Ibeto and Dozzy’s Executive Chairman are not borne out by the historical record. These claims, which do not advance the resolution of the substantive financial issue, are best left aside and beneath the level of our Executive Chairman.

Conclusion The essential fact remains unchanged: Chief Cletus Ibeto remains indebted to Dozzy Oil & Gas Limited in the sum of US$3,000,000.00 (Three Million Dollars). Public narratives suggesting otherwise do not discharge this obligation. Dozzy remains committed to a fair, lawful, and dignified resolution of this matter. Until the outstanding obligation is settled, the principle that agreements must be honored and obligations fulfilled must continue to guide all engagements. We agree with Chief Ibeto that he does not operate on the same “pedestal level” as our Executive Chairman, if such a level is one occupied by those who obtain benefits by false pretense, evade Federal Government import duties on cement, and only make payment after a Clarification of Certain Assertions month’s detention by the EFCC, engage in falsifying land documents The publication in question raises several issues that require clarification: and forging Rivers State Government revenue receipts, and the like. We also appreciate the professionalism and thoroughness of the EFCC in the 1. EFCC Investigation handling of this matter thus far and it goes without saying that without their The investigation referenced was conducted by the Economic help, the monies recovered from Ibeto would not have been possible and we and Financial Crimes Commission (EFCC) following a petition. express our vote of utmost confidence on the Commission and urge them to That investigation culminated in formal proceedings initiated by the keep up their great work. Commission. Assertions suggesting that nothing untoward was found do not Facts, after all, remain stubborn. align with the documented procedural history of the investigation. 2. Chronology of Events The petition that triggered EFCC involvement preceded the commencement of certain civil actions later filed by Chief Ibeto. This sequence is important, as it corrects the misleading impression that regulatory engagement arose only after the conclusion of other proceedings. 3. Substance of the Transactional Dispute At the heart of the matter is a transaction involving representations as to land size, outstanding debt of $3000,000.00 and exchange rate. Available documentation reflects a significant variance between the land area represented in certain dealings and the acreage supported by title records and survey documentation. These discrepancies formed a key aspect of the dispute that necessitated regulatory scrutiny. Findings Arising from Regulatory Review During the course of its investigation, the EFCC identified, among other things: • Inconsistencies between land sizes stated in title recitals and the schedules and survey plans attached thereto; • Title documents later disclaimed by the issuing Lands Registry; • Official confirmation from the Rivers State Inland Revenue Service that certain ground rent receipts did not originate from it; • Absence of valid demand notices and supporting ground rent receipts for the larger land claims; • The execution of multiple Deeds of Sub-lease prior to the crystallisation

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

2025 MARINA CATHEDRAL XMAS CHURCH SERVICE ...

L-R: Chief Dele Fajemirokun; Bishop of the Cathedral Church of Christ, Marina, Rt. Rev. Dr. Ifedola Okupevi; his wife,Mrs. Roseline Okupevi; Deputy Chief of Staff to Lagos State Governor, Mr, Samuel Egube; Wife ofLagos State Governor, Dr. Ibijoke Sanwo-Olu; Provost, The Very Rev. Segun Oladehinde and his wife, Mrs. Tope Oladehinde, at the 2025 Christmas Church Service at Marina, Lagos ...on Thursday

NIRSAL Guarantees N100 Billion Loans to Boost Agriculture, Commits to Increased Financing in 2026 Restates resolve to support climate-smart agriculture, deepen collaboration, others

James Emejo in Abuja

Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc, yesterday disclosed that it has approved credit guarantees for over N100 billion in loans and investments in agriculture and agribusinesses across the country. It said the guarantees had enabled partner financial institutions to extend credit to value chain activities that would otherwise fall outside their risk appetites. In a statement, the institution further reaffirmed its commitment to expanding its finance facilitation footprint,

support climate-smart agriculture, strengthen sectoral resilience, and enhance the competitiveness of Nigeria’s agribusiness ecosystem in 2026. NIRSAL is a Nigerian non-bank financial institution, established by the Central Bank of Nigeria (CBN) to de-risk agriculture lending, making it attractive for commercial finance by managing credit risks and offering support including risk guarantees and technical assistance to the agricultural value chain. However, the historic guarantees this year represented its highest annual finance facilitated to date, demonstrating the institution’s continued

success in de-risking agricultural value chains, improving access to finance for agribusinesses, strengthening lender confidence in the agriculture sector, and deepening financial inclusion. In recognition of its efforts, NIRSAL received the MSME Agrifinance Enabler of the Year Award at the second edition of the MSME Finance and CEO Awards held recently in Lagos. The event celebrated

The management of NNPC E&P Limited (NEPL) and ND Western Joint Venture (JV), operators of OML 34, at the weekend distributed tons of food items and drinks to the people within their operational areas in Delta state. The distributed items comprised bags of rice, cartons of groundnut oil, salt, non-alcoholic wines and gins, as well as cash sums, to the indigenes of the host communities through their various representatives. The event was held at the company’s Edjeba office in Warri South Local Government area of the state. Speaking with newsmen at the the venue, the Manager, Government, Community and Security Department (GCSC), Mr. George Nwasiolo, who represented the Chief Operating Officer (COO) OML 34, Mr.

Oghenekaro Oviaiti, noted that the donation was in line with company’s yearly gesture in appreciating the various host communities for their peaceful disposition to its operations. He said: “As you are aware, we are in these communities to do business and the focus of any businessman is to make profits which can only be realised when there’s an atmosphere of peace between the company and the indigenes of these communities either as an impacted or non-impacted areas to our operations. “What we are doing today and like we have been doing in previous years is to keep appreciating these various communities for their understanding and the peaceful atmosphere they have created for our business to grow in their areas. And we have decided to sustain this goodwill as a way of promoting our cordial relationship.“

institutions, and the resilience of Nigeria’s agribusiness entrepreneurs”. Represented by its Regional Head, South, Business Development Group, Akinola Baiyewu, Hamidu noted that the institution was “not chasing after awards, but is focused on drawing the attention of potential partners across the agrifinance value chain to NIRSAL’s value proposition

for safe, profitable, and sustainable investments in Nigeria’s agriculture sector". NIRSAL’s partnerships with commercial banks and other lending institutions supported critical activities across the agricultural value chain, including commodity export, agro-processing, input supply, primary production, storage, warehousing, and logistics.

Ogun Ready to Host Investment in Several Sectors, Says Abiodun’s Aide James Sowole in Abeokuta

State Government at the Yuletide: NEPL, NDW JV Distributes Ogun weekend restated the state is Items to Host Oil Communities in Delta investment friendly and ready Emmanuel Addeh in Abuja

innovation, resilience, and excellence in Nigeria’s MSME ecosystem, including NIRSAL’s ability to structure and de-risk agricultural transactions. Speaking at the award ceremony, Managing Director/ Chief Executive, NIRSAL, Sa’ad Hamidu, said the accomplishment underscored “the power of structured risk-sharing models, strong partnerships with financial

to welcome investors from Nigeria and diaspora citizens in all sectors. Dr. Ololade Kehinde, a Special Assistant to Governor Dapo Abiodun, stated this during the commissioning of Feliza Hotel and Suites, Obada, Abeokuta. The one stop hospitality

facility which has various sizes of event centres and suites of different standard, was built by a Canadian-based Nigerian, Olufemi Ayeyemi. Kehinde said the commissioning of the facility which value was put at over N3bn, was evidence that Ogun is safe, business-friendly and ready to welcome investors from across Nigeria and abroad. He noted that hospitality investments contribute significantly to economic

development, especially through job creation and tourism. He said, “For businesses to thrive, people must be able to live, work, rest and interact comfortably within an enabling environment. Kehinde explained that Ayeyemi’s decision to invest in Ogun would encourage other Nigerians based overseas to consider similar initiatives. He stressed that Ogun remains open for business and assured visitors and investors

of security and government backing. “We are here to show support. The atmosphere is friendly, and the state is secure. Ogun is ready for business,” he said. In his remark, the Chief Executive Officer of the facility, Mr. Olufemi Ayeyemi, appealed to the Ogun State Government to build more access roads in the state to encourage more investment to further boost economy of the state.

Rewarding Excellence, Cosgrove Approves N4bn Worth of Properties to Staff Members James Emejo in Abuja

Chairman, Cosgrove Investment Limited, Mr. Umar Abdullahi, has approved N4 billion worth of properties as gifts to staff members in a remarkable show of appreciation. The surprise gesture, announced during the company's 2025 retreat in Abuja was in recognition of staff dedication, loyalty, and outstanding contributions to the firm's growth. It further underscored the firm's

strong people-first culture and its belief in shared success. Essentially, the initiative aimed at rewarding excellence, fostering long-term security for employees, and reinforcing a sense of shared ownership within the organisation. In a statement, Abdullahi emphasised that the gesture reflected the company's "broader commitment to empowering its workforce and building sustainable prosperity for the Cosgrove family, as the company

continues to expand its footprint across Nigeria’s real estate landscape." The move was widely praised as a benchmark for corporate leadership and employee recognition in the Nigerian business environment, setting a powerful example of how organisations can tangibly invest in the people driving their success. The retreat brought together leadership and key team members for a focused two-day

strategic engagement aimed at strengthening operations and preparing the organisation for accelerated growth in 2026. The meeting also provided a platform for in-depth discussions on operational efficiency, organisational structure, and performance, with a strong emphasis on improving speedy project delivery, enhancing quality customer service, and sustaining the firm's hallmark of high-quality home development.

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

SIGNING OF THE 2026 BUDGET...

L-R: Deputy Speaker, Ekiti State House of Assembly, Rt. Hon Bolaji Olagbaju; Clerk of the House, Barr. Opeyemi Ajibola; Speaker, Rt. Hon Adeoye Aribasoye; Ekiti State Governor, Mr Biodun Oyebanji; Deputy Governor, Chief (Mrs) Monisade Afuye: and Special Adviser, Parliamentary Affairs, Hon Abiola Olowokere; during the signing of the 2026 Budget and two other laws at the Executive Chamber, Governor’s Office, Ado-Ekiti…recently

NMA Debunks Organ Harvesting Allegations at EKSUTH, Demands Reversal of Surgeon’s Dismissal Sunday Ehigiator

The Nigerian Medical Association (NMA), Ekiti State Branch, has dismissed as false and misleading reports alleging organ harvesting at the Ekiti State University Teaching Hospital (EKSUTH), describing the claims as sensational, unfounded and capable of eroding public confidence in the healthcare system. In a statement yesterday, jointly signed by the Chairman of the Association, Dr. Ifedayo

Oreyemi, and the Secretary, Dr. Oluwatobi Akinluyi, the association said it observed with deep concern the wave of misinformation circulating in both traditional and social media following a recent clinical case at the hospital, stressing that no organ harvesting took place at any time. “The Nigerian Medical Association, Ekiti State Branch, categorically and unequivocally states that no organ harvesting occurred at EKSUTH. At no point was any organ willfully,

secretly or illicitly removed from the patient as insinuated in some quarters.” According to the Association, the allegations were not only false but also grossly misrepresented the facts of the case, with the potential to unfairly malign medical professionals and undermine public trust in healthcare delivery. Clarifying the circumstances surrounding the surgery, the NMA explained that the procedure involved a rare

strictly in accordance with established medical, ethical and legal protocols.” The association stressed that such complex surgical cases are well documented in medical literature and often require professional judgment guided by the patient’s best interest. The NMA, however, strongly condemned the dismissal of the consultant surgeon involved in the procedure, describing the action as premature and unjust. While acknowledging the surgeon was invited to appear before an investigative panel, the association expressed concern that critical professional stakeholders were not This dual certification adequately consulted before is expected to improve the decision to dismiss him employability and open more was announced. opportunities for graduates. “The sequence of actions Dr. Degereji praised gives the impression that the President Bola Tinubu for his outcome was predetermined administration’s bold reforms without the benefit of broadin the education sector, noting based professional input,” that the recognition of colleges of education to award degrees is a significant step toward revitalizing tertiary education in Nigeria. He emphasized that the move will boost the reputation Emmanuel Addeh in Abuja of colleges of education, positioning them as credible The Strengthening Peace and alternatives to traditional Resilience in Nigeria (SPRiNG) universities for degree seekers. Programme has convened a high-level dissemination workshop and policy dialogue on the policy paper: “State Police in Nigeria: Prospects and Challenges,” as part of plans to tackle insecurity in Engr. Dutta said the Nigeria. company does not consider The programme brought host communities “merely together senior security actors, as neighbours, but as valued policymakers, development partners in progress.” partners, and experts to He added: “The advance informed dialogue sustainability of this on policing reform. scholarship scheme for The SPRiNG Programme indigent but deserving is a four-year initiative (2024students reflects our 2028) funded by the UK deep-rooted passion for Foreign, Commonwealth and education and human capital Development Office (FCDO) development.” implemented by Tetra Tech congenital kidney anomaly which required critical, real-time intraoperative decision-making. “For the avoidance of doubt, following the surgical procedure, the removed kidney specimen was formally handed over to the patient’s wife inside the operating theatre in line with standard medical practice. “She personally conveyed the specimen to the pathology laboratory for further evaluation. The specimen remains within the hospital system and has been handled

NUC Greenlights 15 Federal Colleges of Education to Launch Dual‑mandate Degree Programmes

Daji Sani in Yola

The National Universities Commission (NUC) has officially granted approval for fifteen Federal Colleges of Education (FCE) across Nigeria to commence degree programmes under a Dual Mandate arrangement, allowing them to award both NCE and bachelor’s degrees. The announcement was made by Dr. Mohammed Usman Degereji, Provost of the Federal College of Education (FCE) Yola, during a press briefing held at the school premises in Yola, Adamawa

State capital. Dr. Degereji confirmed that FCE Yola is among the approved institutions and will roll out degree programmes in fourteen courses starting with the 2025/2026 academic session. This marks the first phase of the college’s expansion into full‑degree offerings. He said the prospective students have been advised to select only the fourteen approved courses when applying, and to update their choices at any JAMB‑accredited centre to align with the new programme structure. This ensures that applications

are correctly processed for the inaugural degree intake. The provost said that under the Dual Mandate, the colleges will run their traditional National Certificate in Education (NCE) programmes alongside the new degree programmes concurrently. Graduates will be awarded two certificates upon successful completion of their studies. The Provost explained that the government’s aim is to harmonize the two programmes, providing students with broader academic pathways and enhanced qualifications.

Dangote Cement Triples Students’ Bursary for Benue Host Communities

George Okoh in Makurdi

The Dangote Cement Plc has tripled its scholarship fund for its host communities in Gboko, Benue State. Head of Social Performance of Dangote Cement, Gboko Plant, Dr. Johnson Kor, stated the company has broadened its intervention to accommodate a larger number of beneficiaries.

Plant Director, Gboko Plant, Engr. Abhijit Dutta, said at the presentation of the symbolic cheque in Gboko that, “This year’s scholarship marks a significant increase from ten million naira to about thirty million naira.” Engr. Dutta, represented by the Head of Finance Department, Olusegun Orebanjo, said no fewer than 230 students are beneficiaries

from the 2025 education scheme. He said the scope of beneficiaries for this year has been expanded beyond the immediate host community of Mbayion to include other mining communities of Mbatur in Yandev district, Mbazembe Community in Ipav district and Pass Brothers Community in Guma Local Government Council.

the statement noted, adding that the move undermined confidence in the investigative process. The association also faulted the suspension of resident doctors and other theatre staff who were on duty at the time of the surgery, noting that they were neither invited to appear before any panel nor given the opportunity for fair hearing. “This approach violates the principles of natural justice and due process,” the NMA said, warning the decision has already affected staff morale and led to the withdrawal of locum consultants from the hospital, with fears of mass resignations, particularly within the Department of Surgery. According to the association, these developments pose a serious threat to healthcare delivery at EKSUTH and could worsen the already fragile manpower situation in the health sector.

State Police: SPRiNG Holds Workshop to Advance Evidencebased Security Reforms International Development, in partnership with Nextier SPD (Nextier), the Centre for Democracy and Development (CDD), and the Centre for Humanitarian Dialogue (HD). The programme, according to a statement in Abuja, aims to enhance institutional capacity for conflict management and response, boost public confidence in key institutions, and create greater incentives for peace in Nigeria. The workshop, at the weekend, provided a critical platform for examining the opportunities, risks, and institutional requirements associated with the ongoing national debate on state policing, against the backdrop of Nigeria’s evolving security challenges.

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

CALABAR BIKERS CARNIVAL...

L-R: International Consultant to Carnival Calabar, Mr. Ikechi Uko; Portuguese Ambassador to Nigeria, Paulo Martins Santos, and Executive Chairman of the Cross River State Carnival Commission, Chief Gabe Onah, at the Bikers Carnival in Calabar…yesterday

Obaseki, Senator, Rights Activist Condemn Humiliation of Filmmaker, Pedro Victim narrates ordeal, says he was stripped naked, beaten by thugs Palace chief: We don’t want any disturbance, if anyone considers himself an enemy of the Oba, leave him

Emmanuel Addeh in Abuja and Felix Omoh-Asun in Benin A former Governor of Edo State, Godwin Obaseki, yesterday condemned what he described as the violent attack and abduction of his cousin, Don Pedro, at gunpoint, allegedly on the orders of the Bini palace. Also, a human rights activist, Kola Edokpayi, has condemned the attack on Pedro, a cousin of the former Edo state governor in Benin, the state capital. In a statement, Ex-Governor Obaseki stated that Pedro, a former Managing Director of DAAR Communications and a renowned journalist, was attacked at Uwa Primary School, where he was subjected to physical assault, intimidation, and torture by the armed thugs before being forcefully taken to the palace. “His Excellency, Mr. Godwin Obaseki, the immediate past governor of Edo State, has condemned in the strongest terms the violent attack and

abduction of his cousin, Dr. Pedro Obaseki at gun point by armed thugs said to be acting under the instructions of the palace of the Oba of Benin,” a statement he released said. "I strongly condemn the violent attack, maiming and abduction of my cousin, Dr. Pedro Obaseki, by armed thugs who are said to be acting under instructions of the palace of the Oba of Benin," the statement added. This just a palace told the youths that the palace does not want any disturbance, "We don’t want any disturbance, If anyone considers himself an enemy of the Oba, leave him." A viral video circulating on social media, he said, showed the armed thugs taking the brutalised Pedro, who was already stripped of his clothing to the palace, where they were ‘ceremoniously’ received by some palace chiefs. Reacting to the development, the former governor described the incident as a grave violation of fundamental human rights

and a reckless disregard for the rule of law. He expressed deep disappointment over what he said was the involvement of the palace in such a barbaric, shameful and ignoble act. “I am surprised that our monarch would stoop so low and allow his hands to be soiled in such an ignoble act. This is not only embarrassing but deeply troubling. “I call on security agencies to immediately investigate this matter thoroughly and transparently, identify those responsible for this barbaric act and ensure they are held accountable in accordance with the law. “A situation where thugs and non-state actors appear to freely take the law into their own hands on behalf of high-profile individuals and those in positions of authority can only result in one outcome, a degeneration into a state of anarchy, which will do no one no good. “I urge human rights organisations, civil society

groups, and all well-meaning Nigerians to lend their voices and speak out firmly against this injustice and gross violation of human rights,” he added. Also, human rights activist, Kola Edokpayi, has condemned the attack on Pedro Obaseki, a cousin of former Edo State Governor, Godwin Obaseki, in Benin, the Edo state capital. Some youths had allegedly attacked and stripped him of his clothes, accusing him of making disrespectful remarks against the Oba of Benin, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Ewuare II. Obaseki, a former presidential consultant on media to the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, was said to have been attacked while playing football at Uwa Primary School field on Igbesamwan Street in Benin on Sunday morning. The viral video footage showed the youths dragging him from the field before taking him to the Oba's palace.

ACOMIN Seeks Increased Monitoring of Malaria, TB, HIV Intervention Programmes

Onyebuchi Ezigbo in Abuja

The Civil Society in Malaria Control, Immunization and Nutrition (ACOMIN) is advocating expanded Community-Led Monitoring (CLM) action on the impact and reach of healthcare services, particularly those aimed at addressing tuberculosis, malaria and HIV in Nigeria. It said the CLM action has

helped in advocacy mission to Jigawa State Branch of the Association of Local Governments of Nigeria (ALGON) resulting in the procurement of hospital equipment valued at N190 million to support healthcare facilities. Under the GC7 Global Fund Project Grant, ACOMIN is implementing CLM to improve the availability, accessibility. acceptability, affordability,

and quality of healthcare services across 13 states of Adamawa, Delta, Gombe, Jigawa, Niger, Kano, Kaduna, Kwara, Katsina, Ogun, Osun, Taraba, and Yobe, covering 130 Local Government Areas The intervention engages 260 community-based organizations (CBOs) and facilities at any given time and works with 780 trained community volunteers. Based on successes

recorded through the Community-led Monitoring activities in some of the states which has enabled significant facility-level recoveries at Primary Healthcare centres, including the restoration of night shifts, water supply, initiation of TB services, and reactivation of antenatal care (ANC) services, ACOMIN said there is need further extend the initiative to other states in the country.

A renowned playwright, producer and director, and one of the pioneers of Nigeria's Nollywood film industry, Obaseki, during the confrontation, was labelled an “oghioba” (enemy of the Oba), with the youths insisting that their action stemmed from comments he allegedly made in the United Kingdom that they considered insulting to the monarch. Upon arriving at the palace, the youths allegedly informed palace chiefs and guards that they brought Obaseki to answer for allegedly disrespecting the Oba. However, palace chiefs were said to have quickly intervened. Addressing the agitated youths, one of the chiefs noted that the Oba was at Holy Arousa Church attending a thanksgiving service, marking the end of the annual Igue Festival. He urged the youths to avoid causing trouble. "We don’t want any disturbance. If anyone considers himself an enemy of the Oba, leave him, and time will reveal the outcome,” a chief cautioned. The video further showed palace chiefs taking custody of Obaseki from the youths. In the same vein, a former Chief Whip of the Senate, Rowland Owie, has condemned what he termed the despicable and criminal assault on Pedro Obaseki, Chief Executive Officer of Hosamudia Farms, who was violently attacked in Benin City by youths. In a statement personally signed on Sunday evening, Owie said the assault represents one of the gravest manifestations of coordinated, non-state actor–led violence against a lawful citizen, and

constitutes a flagrant violation of Pedro's fundamental human rights, including his rights to dignity of the human person, personal liberty, and freedom from inhuman and degrading treatment as guaranteed under the Constitution. “What transpired on Sunday is not merely an assault on one individual; it is an assault on the rule of law itself. It is symptomatic of a deeply troubling descent into lawlessness and impunity, and a warning sign of a dangerous slide towards Hobbesian anarchy if left unchecked,” he stated. Expressing grave concern over the implications for public order and civic safety in Edo State, Owie called on the Inspector General of Police to act without delay by ensuring the immediate apprehension, thorough investigation, and diligent prosecution of all those responsible for the attack. He stressed that decisive action was essential not only to secure justice for the victim but also to send a clear and unequivocal message that Edo State and Nigeria as a whole have not been surrendered to hooligans and criminal elements. The former Senate Chief Whip extended his heartfelt sympathies to Pedro and his family, appealing to all well-meaning Edo citizens, civil society organisations, and community leaders to speak out unequivocally against this ‘barbarity’ and to resist all attempts by criminal elements to destabilise the state through fear, violence, and humiliation. Continued online

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

2025 AFRICAN FASHION WEEK...

L-R: Chief Marketing Officer, Sterling Bank, Mr. Don Okpako; Chief Operating Officer, Sterling Bank, Mr. Temitayo Adegoke; Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi; Founder, African Fashion Week Nigeria, Olori Aderonke Ademiluyi-Ogunwusi; and Chief Project Officer, Made by Nigerians, Ms. Chidimma Okoli, at the 2025 African Fashion Week held in Lagos … recently

Tinubu Departs Lagos for Europe, Abu Dhabi, ADC Criticises Trip Amidst US Strike Abbas: Zamfara bomb explosion cowardly

Deji Elumoye and Chuks Okocha in Abuja President Bola Tinubu has departed the nation's commercial capital, Lagos, yesterday, for Europe, continuing his end-of-year break and ahead of his official trip to Abu Dhabi, in the United Arab Emirates. Presidential spokesperson, Bayo Onanuga, in a release disclosed that President of the United Arab Emirates, His Highness, Sheikh Mohamed bin Zayed Al Nahyan, had invited Tinubu to participate

in the 2026 edition of Abu Dhabi Sustainability Week (ADSW 2026) Summit, that will take place in the emirate early in January. The weeklong summit is an annual event that mobilises leaders from government, business, and society to chart the next era of sustainable development. With the theme "The Nexus of Next: All Systems Go", ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward

with confidence.' The President will return to the country after the Summit. Meanwhile, the president’s Europe trip has received criticism for embarking on a journey amidst deadly bomb blast in Zamfara State and other parts of the country following the US strike. Criticising the President, National Publicity Secretary of the African Democratic Congress (ADC), Mallam Bolaji Abdullahi, said Tinubu’s lack of care was scary. Reacting through his X handle

on Sunday in Abuja, the ADC spokesman said, “PBAT’s lack of care is scary. “In the wake of yet another deadly bomb blast in Zamfara, to which the President has not said a single word; on the back of an unprecedented foreign military attack on Nigerian soil; right in the middle of all the uncertainty it has provoked; with a confused and scared nation waiting for the President to speak to us and assure us that all is well, the next thing we hear is that the President has gone on holiday.

“What a President!”

Abbas: Zamfara Bomb Explosion Cowardly Reacting to the bomb blast, House of Representatives Speaker, Hon. Abbas Tajudeen, condemned the bomb explosion on road users in Zamfara State, leading to the death of seven persons. Suspected terrorists had planted an Improvised Explosive Device (IED) along the Magami–Dansadau highway in the Maru Local Government Area of Zamfara State on Saturday, killing passengers of a bus. The Speaker, in a statement,

by his Special Adviser on Media and Publicity, Musa Krishi described the attack as cowardly. He noted that it was unfortunate that it was carried out shortly after the Nigerian and the American governments launched a joint operation against terrorism in the country, with strikes on terrorists hideouts in parts of the North-West on Thursday. While vowing that terrorism, banditry, and other crimes against the state would be resisted, Abbas noted that new strategic security measures were introduced by the administration of President Bola Tinubu, GCFR, to check criminal activities.

SERAP Sues Govs, FCT Minister over N14 Trillion Fuel‑subsidy Savings NDLEA Nabs Ex-Convict, Three

Chuks Okocha in Abuja

The Socio-Economic Rights and Accountability Project has dragged the 35 state governors and the Minister of the Federal Capital Territory, Nyesom Wike, to court over their alleged failure to account for the spending of about N14 trillion realised as fuel subsidy savings. The Office of the AccountantGeneral of the Federation is also being sued alongside the governors and Wike. SERAP, in a statement on posted on its social media accounts on Sunday, said the governors and the FCT

minister have collected trillions of naira as increased allocations from the Federation Account Allocation Committee following the removal of fuel subsidy in May 2023. The group, however, lamented that the funds have not translated into improved access to quality healthcare, education and other basic services for poor and vulnerable Nigerians. The suit, marked FHC/L/ MSC/1424/2025, was filed last Friday at the Federal High Court in Lagos, according to a statement signed on Sunday by SERAP’s Deputy Director,

Kolawole Oluwadare. SERAP is asking the court to direct and compel the respondents to disclose details of how the increased FAAC allocations, described as fuel subsidy savings, have been spent since mid-2023. Specifically, the organisation is seeking an order to “direct and compel the governors and Mr. Wike to disclose the details of the spending of the increased FAAC allocations being savings from the removal of fuel subsidy in May 2023.” It is also asking the court to “compel the governors and

Mr. Wike to disclose details and the location of the projects executed, if any, with the increased FAAC allocations from the savings from the removal of fuel subsidy.” In the suit filed by its lawyers, Oluwakemi Agunbiade and Valentina Adegoke, the organisation argued that, “The Federation Account Allocation Committee (FAAC) in 2024 distributed N28.78 trillion from the removal of subsidy on petrol to the three tiers of government, representing a 79 per cent increase from the previous year.

Nigeria’s First Lady, Senator Oluremi Tinubu Donates 1,000 Bags of Rice to Members of Bauchi CNNPF

Segun Awofadeji in Bauchi

Nigeria's First Lady, Senator Oluremi Tinubu, has donated a total of 1000 bags of rice to Bauchi State Chapter of the Christian Northern Nigerian Political Forum (CNNPF), to celebrate the

2025 Christmas season and the new year 2026. The donation which was made through the First Lady's pet project, Renewed Hope for Unity and Prosperity, on Saturday was received through the former Speaker of the House of Representatives,

Hon Yakubu Dogara, for onward distribution to the beneficiaries across the state. While flagging off the distribution of the items on Saturday, Ayuba Dogara, the Bauchi State Coordinator, Christian Northern Nigeria Political Forum (CNNPF),

commended the initiative, describing it as timely and beneficial. According to him, "We are here to flag off the food items that have been given to Bauchi State by Her Excellency, the Wife of the President, Sen. Remi Tinubu."

Others Over Cocaine Hidden in Liquid Starch Bound for UK

Michael Olugbode in Abuja

The National Drug Law Enforcement Agency (NDLEA) has arrested a previously convicted drug trafficker and three accomplices after intercepting a consignment of cocaine concealed in sealed sachets of liquid starch meant for export to the United Kingdom through the Murtala Muhammed International Airport (MMIA), Lagos. According to a statement on Sunday by the spokesman of the anti-narcotics agency, Femi Babafemi, operatives of the agency uncovered 75 wraps of cocaine weighing 1.5 kilogrammes at the airport’s export shed. He disclosed that three freight agents - Jubrin Hassana, Kuku Oluwasegun and Igwe Jane - were arrested on Saturday, December 20, 2025, while processing the illicit cargo. He noted that further investigation identified 37-yearold Nwobodo Chidiebere

as the coordinator of the shipment, stating that he was arrested the following day at a relaxation centre in Ikeja. Babafemi said NDLEA records showed that Nwobodo was convicted in 2023 for trafficking 30.1 kilogrammes of methamphetamine concealed in powdered custard containers and destined for the UK. He was then sentenced to five years’ imprisonment with an option of a N7 million fine, which he paid before resuming drug trafficking activities. In separate operations across the country, NDLEA operatives recorded major seizures of cannabis and other illicit substances. In Ekiti State, officers dismantled cannabis warehouses in the Ara forest and recovered 638 kilogrammes of skunk. In Edo State, 1,205 blocks of compressed cannabis sativa weighing 883.1 kilogrammes were intercepted from three vehicles along the Igara–Auchi road.

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

CHOIR SESSION AT THE DEEPER LIFE GLOBAL DECEMBER RETREAT...

Choir session at the Deeper Life Global December Retreat titled “The Great Redemption Power”, held at the Kubwa Region Camp Ground, Federal Capital Territory, Abuja, yesterday

ENOCK REUBEN

Atiku Warns Against ‘Forged’ Laws, Declares New Tax Act Nullity National Assembly orders fresh gazetting of controversial laws

Sunday Aborisade in Abuja

Former Vice President Atiku Abubakar yesterday escalated the controversy trailing President Bola Tinubu’s flagship tax reforms, declaring that the Tax Act, as gazetted, is a constitutional nullity because it does not reflect what was duly passed by the National Assembly. In a statement issued to journalists, Atiku said the House of Representatives’ confirmation that the published version of the law differed from the bill passed

by both chambers raised a “grave constitutional issue,” warning that any law not enacted in the precise form approved by parliament “is not law.” “A law that was never passed in the form in which it was published is not law. It is a nullity,” Atiku maintained. He stressed that the Constitution clearly outlines the lawmaking process under Section 58, including passage by the Senate and House of Representatives, presidential assent and then gazetting.

According to him, gazetting is merely an administrative act of publication and “does not create law, amend law, or cure illegality.” He added that where a gazette misrepresents legislative approval, it has no legal force. The former vice president went further to describe any post-passage alteration of a bill without legislative approval as “forgery, not a clerical error.” Atiku insisted that no administrative directive by the leadership of the National Assembly could validate such a defect or

justify re-gazetting without a fresh legislative process. He said: “No administrative directive by the Senate President or the Speaker can validate such a defect or justify a regazetting without re-passage and fresh presidential assent.” Atiku warned that attempts to rush a regazetting while stalling legislative investigation would undermine parliamentary oversight and set a dangerous precedent, emphasising that his position

XX Set to Join ADC as Party Plans Convention Obi Chuks Okocha in Abuja K Presidential hopeful, Peter Obi, A is set to formally join theA African Democratic Congress (ADC) amid ongoing consultations ahead of the 2027 general election. A principal official of the Labour Party in Abuja told THISDAY that Obi had concluded plans to join the party and hold a declaration rally in Enugu, the political capital of the South-East, on December 31. According to the official, Obi’s supporters and loyalists have begun arrangements for the defection.

The source disclosed that Obi, after the ADC asked him to make up his mind on joining the party about three weeks ago, met with the National Chairman of the party, David Mark, to renew his allegiance to the coalition. He said the party’s position might have convinced the former Anambra State governor to finally decide to join the ADC. On December 7, the ADC, while reacting to a statement credited to Obi in which he described the party as unstable, told the presidential hopeful to make up his mind on whether or not to join the

coalition. A party source told THISDAY that, “We are aware that Peter Obi is making plans to declare for the ADC on December 31 in Enugu. Although he has yet to formally inform the party, the plans are genuine.” Asked why Obi would prefer to declare for the coalition in Enugu instead of Anambra, his home state, the party official said, “Enugu is the political capital of the South-East. Obi is representing the region, not just his state. That must have informed his decision.” But the ADC National

Publicity Secretary, Bolaji Abdullahi, said he could not confirm Obi’s planned defection. “The point is that there is no official announcement yet. But consultations are ongoing,” he said. Similarly, the National Coordinator of the Obidient Movement Worldwide, Dr Yunusa Tanko, declined to comment directly on the matter, insisting that only Obi could speak on it. But the Julius Abure-led National Working Committee of the Labour Party has downplayed Obi’s planned defection.

was not opposition to tax reform but a defence of constitutionalism. “Illegality cannot be cured by speed,” he said, insisting that the only lawful path was fresh legislative consideration, re-passage in identical form

Act Now on Sheikh Gumi or Risk Backlash, Campaign for Democracy Tells Bola Tinubu Sunday Aborisade in Abuja

The Campaign for Democracy (CD), yesterday, called on President Bola Tinubu to immediately order the arrest and prosecution of Islamic cleric, Sheikh Ahmad Gumi, over allegations of terrorism support, banditry sympathy and incitement capable of undermining national security. In a statement released in Abuja, the foremost human rights organisation accused the federal government of dangerous inaction in the face of what it described as “inflammatory rhetoric” by Gumi. It warned that continued silence could embolden violent actors and worsen Nigeria’s insecurity crisis. CD National President, Pastor Ifeanyi Odili, said Gumi’s public statements over time had allegedly fuelled

OJULARI: COMPETITION IN DOWNSTREAM PETROLEUM SECTOR WILL BENEFIT CONSUMERS also reiterated the goal of raising crude oil production to two million barrels per day by 2027. On concerns about downstream pricing and supply, the NNPC chief said Nigerians must understand the structural changes introduced by the Petroleum Industry Act (PIA), “The PIA did something fundamental.

It separated regulation from business.” According to him, regulatory responsibilities now rest with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), while NNPC operates strictly as

a commercial entity. “Post-PIA, NNPC is not a regulator. We are a CAMA company that must compete profitably,” he said, adding that NNPC no longer receives federation allocations. On supply, Ojulari said NNPC remained the supplier of last resort and was working with all key downstream players,

including Dangote Refinery, to ensure availability of petroleum products. He acknowledged the current tension in the market, but insisted it was temporary, saying, “Competitiveness is not easy, we are in the early stages of a willing buyerwilling seller market. “By the time you have a refinery like Dangote in-

by both chambers, fresh assent and proper gazetting. His intervention came as the leadership of the National Assembly announced steps to authenticate the controversial tax laws amid growing public scrutiny.

country, which we did not have before, the market will be impacted.” Describing domestic refining as a positive development, Ojulari said Nigeria must collectively manage the transition. He stated, “It is a great thing to have a major refinery in Nigeria supplying West Africa and other parts of

violence, deepened social divisions and contributed to the loss of innocent lives across the country. According to him, the cleric’s comments posed a clear and present danger to peace and stability. “Gumi’s rhetoric is a ticking time bomb. It is no longer a matter of opinion or free speech when words actively incite violence or appear to legitimise terror. “The government has a constitutional duty to protect Nigerians, and that duty must override political considerations," Odili said. The group went further to accuse the Tinubu administration of what it termed appeasement and complicity, arguing that failure to act decisively sends a wrong signal to terrorists and criminal gangs operating in different parts of the country. the world. What we need to do is to walk through this reality together so that the market forces can stabilise and everyone can be okay.” He expressed confidence that, with sustained reforms and stakeholders' cooperation, the benefits of competition would become clearer to ordinary Nigerians in the months ahead.

T H I S D AY • MONDAY, DECEMBER 29, 2025

NEWS

MUSIC AND CHORALE COMPETITION FOR CHRISTMAS...

L-R: Dean, Yaba Deanery, Catholic Archdiocese of Lagos, Very Rev Fr Michael Okonkwo; Director, Dominican Media, Rev Fr Judemary Owoh ; Executive Director, Royal Roots Communications Limited, Mrs. Debbie Odutayo; and Assistant Director of Social Communications, Archdiocese of Lagos, Rev Fr Emmanuel Fashanu, at the Music and Chorale Competition (Christmas Joy 2025) which held at the St Thomas More Catholic Chaplaincy, UNILAG, Akoka, Lagos ...recently

Wike Knocks Fubara, Says Emergency Support for Tinubu Won’t Help Him in 2027

Olawale Ajimotokan in Abuja

The Minister of the FCT, Nyesom Wike, has berated the River State Governor, Siminalayi Fubara, saying no one could be fooled by his emergency support for President Bola Tinubu. Wike disclosed this yesterday during his special Christmas visits to

Emohua and Ikwerre Local Government Areas of Rivers State. In his address to Ikwerre people, Wike advised Fubara to honour agreements, rather than being reduced to an emergency singer of Tinubu’s ‘on your mandate, we shall stand’ anthem. “For us here, agreement is agreement. You can be singing on your mandate

we shall stand, in support of President Bola Ahmed Tinubu, which is good because we have been supporting the President since 2023, your new sloganeering won't help you,” he stated. The FCT minister reminded his Ikwerre political base of how they took the risk to support the president when others were not in sight to be

seen, stating that they only started singing the ‘on your mandate we shall stand’ slogan when it was difficult. Wike said: “In 2023 when it was difficult, when people never knew that Mr President will emerge as President, all of us from Ikwerre stock knew politics is about risk, we know that, if you look at the votes that made him to win in Rivers, the votes were

particularly from Ikwerre. “When it mattered most, we stood on his mandate, not this people now coming to shout on your mandate, when it was important they couldn't shout on your mandate. “You take stands when things are tough, not when food is ready. We took this position when things were tough, and we are still

standing by it. “The South must complete their eight years, and completing the eight years it doesn't matter which party we belong to give Mr. President the support to succeed. "In 2031, after the South must have completed its eight years through President Tinubu, we will know what next,” he said.

EDUN TO INVESTORS, PARTNERS OVER US STRIKES: NIGERIA NOT AT WAR of this administration—to protect lives, secure prosperity, and grow the economy—is unwavering. "Nigeria remains open for business, anchored in peace, and firmly focused on the future."

AbdulRazaq Counsels Security Agencies on Collaboration, Team Spirit Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, yesterday, advised security agencies to strengthen interagency collaboration and team spirit in the effort to wipe out terrorists and kidnappers in the country. AbdulRazaq stated this at Dabban, Lema town, in Edu Local Government Area of the state during a special luncheon with troops of the Nigerian Army. The luncheon was attended by Chief of Army Staff (CoAS), Lieutenant-General Waidi Shuaib, who was represented by Commander, Signals Corps, Major-General MT Abdullah. Others at the luncheon included Commissioner for Social Development, Dr. Mariam NnaFatima Imam; Senior Special Assistant to the Governor on Security Matters, Muyideen Aliyu; Chairman, Edu Local Government Area, Alhaji Abdullahi Bello; and a representative of Emir of Lafiagi.

The governor said success against terrorists, kidnappers, and other bad faith actors lay in unity and effective coordination. Represented at the event by the deputy governor, Mr. Kayode Alabi, AbdulRazaq stated, "Keeping our country safer, united, and more prosperous must be seen and treated as a shared responsibility by government and especially the citizens." He added, "Offline and online activities or conducts that endanger the lives of the troops or trivialise their sacrifice should stop. This is the irreducible minimum standard that we must hold ourselves to." He said the luncheon underlined the importance that the Nigerian state attached to the wellbeing of the troops in the frontlines, who were engaged in various campaigns to keep the peace and eliminate all threats to national stability. "Our presence this afternoon shows that the civilian authorities stand in full solidarity with our troops and we do not take lightly the fact that you are here on behalf of every one of us. We are grateful," AbdulRazaq said. In his remarks at the event, Shuaib saluted the troops for their courage, discipline, sacrifice, and unwavering commitment to safeguarding the country's territorial integrity and ensuring

the safety of all Nigerians. He stated, "To all personnel serving in various theatres who will not be able to celebrate this yuletide season with their families due to the demands of duty, I salute your courage, discipline and sacrifice. "Your unwavering commitment to safeguarding our country's territorial integrity and ensuring the safety of all Nigerians is deeply appreciated. "Your absence from home this season is a profound sacrifice for which the Nigerian people remain grateful. "Be assured that under my leadership, concerted efforts would be made to foster professionalism and ensure combat readiness of the Nigerian Army.” General Officer Commanding 2 Division, Major-General CR Nnebeife, appreciated the CoAS for the morale-boosting event, which he said was firmly rooted in his command philosophy of advancing the transformation of the Nigerian Army into a more professional, adaptable, combat-ready, and resilience force capable of discharging its constitutional responsibilities within a joint and multi-agency environment.

Olawepo-Hashim: US Strikes in Nigeria Highlight Ruling APC’s Security Failures

Presidential hopeful, Gbenga Olawepo-Hashim, described the recent United States airstrikes targeting Islamic State (IS) elements operating within Nigeria as a damning indictment of the country’s security architecture. Olawepo-Hashim blamed what he called the persistent failure of governance under Tinubu and the APC administration. In a statement yesterday, Olawepo-Hashim said the US intervention reflected growing international concern over Nigeria’s deteriorating security situation, particularly in the North-west, where terrorist groups were steadily consolidating their influence. He said responsible global actors could not afford to ignore the emergence of an IS foothold in Nigeria, stressing that the country is “too large, too strategic, and too important to be allowed to fail”. Olawepo-Hashim revealed that since 2021, and more intensely over the past year, his team had repeatedly warned that security modelling in the North-west pointed towards a dangerous trajectory, including the potential emergence of an IS-aligned enclave, if urgent action was not taken. He attributed the worsening insecurity to deepening poverty,

prolonged governance failure, and weakened institutions, which he said had emboldened extremist groups while silencing moderate political and secular voices across the region. “More worrying is the elevation of individuals who enable or rationalise extremism into positions of political influence, creating conditions under which terror groups can aspire to territorial control,” he stated. While acknowledging that international airstrikes might temporarily degrade terrorist capabilities, he stressed that lasting solutions could only come from within.

Isolated Strikes Will Not End Terrorism in Nigeria, Leading US Research Group Says A leading US-based research group, Centre for Strategic and International Studies (CSIS), warned that last week’s American missile strikes on suspected Islamic State in the Sahel Province (ISSP) camps in North-west Nigeria were unlikely to end the country’s deepening terrorism crisis. CSIS, a non-partisan policy institution based in Washington, D.C, established in 1962, stated that isolated attacks could only deliver temporary setbacks to jihadist groups. He called for

a more sustained campaign of military pressure. The Washington think-tank, in an assessment of the December 25 strikes, said Salafi-jihadist groups operating across northern Nigeria continued to pose a serious threat to both Christians and moderate Muslims, stressing that extremists carry out indiscriminate violence against communities that reject their ideology. In the report, CSIS urged the Donald Trump administration in the United States to consider additional raids and broader counterterrorism measures if it hoped to degrade the militants’ growing capabilities. He advised the Nigerian authorities to halt the farmer-herder crisis. The US had said it struck two apparent Islamic State camps in northwest Nigeria with Tomahawk missiles. US Africa Command (AFRICOM) said it struck “ISIS terrorists in Nigeria” in collaboration with the Nigerian government. Stressing that a number of overlapping conflicts in Nigeria had led to the death of Christians in the country, while competition between majority-Christian farmers and primarily Muslim herders over scarce resources had resulted in massacres, CSIS explained that Salafi-jihadist groups had also specifically targeted Christians.

T H I S D AY • MONDAY, DECEMBER 29, 2025

BACKPAGE CONTINUATION ALL THE US BOMB’S DEBRIS Beginning with the sovereignty question, but our government squelched that by saying it approved of and cooperated with the attack by providing intelligence info. If it did, why then was the choice of target so wide off the terrorism mark? Sokoto State’s banditry problem is far less than those of Borno, Yobe, Zamfara, Kebbi, Niger, Katsina, Kaduna, Benue, Plateau, Kogi, Taraba and lately Kwara states. Within Sokoto State too, it is the north western part adjoining Niger Republic and the north eastern part adjoining Zamfara State that have suffered the most terrorist attacks. Tambuwal Local Government has never been reported to harbor or suffer any terrorist attacks. From all media reports, victim accounts, security reports and military activity we have seen and heard in the last sixteen years, Borno’s Sambisa Forest, Mandara Mountains and Lake Chad islets harbor the largest ISWAP and Boko Haram terrorist camps. Then there are obviously large bandit camps in Zamfara, Katsina and Niger states, parts of Kebbi, Kaduna, Plateau, Kogi and Benue states, roving bandit bands in Taraba state, as well as recently established terrorist camps in Kwara State. Minister of Information Mohammed Idris’ account however is that the shrapnel pieces that locals picked in Jabo village of Sokoto State and Offa in Kwara State were not from the main strike, which he said was targeted at a Lakurawa assembly point in Bauni forest of Tambuwal Local Government. Even though my native LGA, Jega, is next door to Tambuwal, I have never heard of this Bauni forest, despite driving through Tambuwal every time I went to Sokoto and back. Locals in the area also never seemed to have complained that bandits and terrorists were congregating in the area. If these were “precise munitions” that were fired after gathering the best hi-tech surveillance info, why did these pieces fall in Jabo and Offa? There was this post by an anonymous retired Air Force officer, who said “long-

range munitions were launched from naval platforms stationed in the Gulf of Guinea… The flight path was a straight line from the ocean to the Sahel. That line runs directly over Kwara State. What the people of Offa witnessed is known as ‘staging'. Long-range missiles shed weight as they fly. They drop their fuel tanks or booster rockets once the fuel is spent, allowing the warhead to continue to the target. Offa just happened to be the geographic drop-zone for that stage of the flight.” But retired Group Captain Sadeeq Shehu said this is not true. Idris had said MQ-9 Reaper, not long range missiles, was used in this attack. “MQ-9 is built for precision, not area bombing…It is not a system that sprays fragments across towns or states… Its small GPS-guided bombs detonate ON or VERY NEAR their target. When they explode, their effects are local. Fragments travel metres… and in rare cases a kilometre but no further than that.” Group Capt. also said, “From Tangaza to Jabo is well over 100 kilometres. From Tangaza to Offa is roughly 400 kilometres. Those distances are far beyond anything that can be explained by debris from precision weapons fired by an MQ-9 Reaper. A weapon that detonates in Tangaza cannot scatter debris into Jabo. And it certainly cannot deposit debris in Offa.” Also, that “Debris does not create crater. A crater [as seen in Jabo] is a weapon effect. Debris does not dig holes. Explosions do.” In other words, Jabo and Offa were the targets, not debris. Officials’ communication of the strike’s capacity as well as intent were also problematic. President Trump said he delivered a “powerful blow” on a terrorist target, but the evidence was almost absent. All we saw were Jabo and Offa locals picking up metal pieces, alleged to be shrapnel from the main blast. No video or pictorial evidence surfaced at the weekend of the site of the main blasts, including remains of the terrorists that Trump said were wiped out in large numbers. The claim is curious because US military authorities said the

“operation deployed a highly sophisticated, multi-platform strike package, including long-range combat drones launched from a US facility supported by naval strike capabilities operating from the Gulf of Guinea.” This is news to us; so there are US naval forces stationed in the Gulf of Guinea, right on top of Nigeria’s offshore oil reserves? As for the lethal and hi-tech capabilities of the strike, it is necessary to prove this with pictures and videos of the dead terrorists and destroyed camps. American officials’ explanation of the mission’s intent differed widely from Nigerian officials’. President Trump’s social media post on the attack presented it as unilateral American action; he did not say that Nigerian authorities either knew or cooperated with it. Our government, on the other hand, said it was the outcome of structured security cooperation and intelligence collaboration, that President Tinubu authorised it, and that our military took part in it [to what extent, was not made clear]. If, as some sources claimed, Nigeria’s military provided the intelligence for the Americans to strike, it is no small curiosity that they pointed in the direction of Sokoto State, which scantily features in the anti-terrorism charts. Most problematic was President Trump’s assertion that he ordered the raid in order to protect Nigeria’s Christian communities from genocidal attacks. The local priests who feed this narrative point to events in Plateau and Benue states as the evidence. It is not logical for a terrorist who wants to wipe out Christians to locate in predominantly Muslim Sokoto State, even for staging purposes. Besides, in contrast to the North Eastern ISWAP and Boko Haram, the bandits operating in the Northwest have a religiously blind purpose. All the villages they sacked, all the protection fees they imposed and all the schoolchildren they carted away in Kagara, Kankara, Jangebe, Birnin Yauri, Kuriga and Maga were Muslim, though they raided Christian schools too at Baptist Academy and Greenfield University in Kaduna State and most recently Catholic school in Papiri, Niger State. All for one strictly secular purpose: money. While

BRIDGING THE GAPS IN BUDGET IMPLEMENTATION

promote job‑rich growth, reduce poverty and strengthen human capital development, while protecting the vulnerable. But rather than appreciate the government's challenge, the courage demonstrated in accepting the fact of poor implementation of the budget and the firm resolve to correct the anomaly, the opposition African Democratic Congress took the notoriously mischievous route to upbraid President Tinubu. The party described the new budget and the government's remedial plans as "a copy and paste" of previous years' spending plans. The party's interim National Publicity Secretary, Bolaji Abdullahi, said ADC's economists reviewed the budget, claiming that "it reflects fiscal recklessness and unrealistic projections." Propagating a doomsday theory, ADC opined that, like its predecessors, the 2026 Budget would end up as another unimplemented document. It is fair to argue that the 2025 budget faced the challenge of transition and competing execution demands. But presenting the 2026 Budget to the lawmakers, President Tinubu assured that the budgetary situation would be different this time. The President said: "As of Q3 2025, we recorded: 18.6 trillion naira in revenue — representing 61% of our target; and 24.66 trillion naira in expenditure — representing 60% of our target. "Let me be clear: 2026 will be a year of stronger discipline in budget execution. I have issued directives to the Honourable Minister of Finance and Coordinating Minister of the Economy, the Honourable

Tinubu

Minister of Budget and Economic Planning, the Accountant‑General of the Federation, and the Director‑General of the Budget Office of the Federation to ensure that the 2026 Budget is implemented strictly in line with the appropriated details and timelines. "We expect improved revenue performance through the new National Tax Acts and the ongoing reforms in the oil and gas sector — reforms designed not merely to raise revenue, but to drive transparency,

efficiency, fairness, and long‑term value in our fiscal architecture," he added. President Tinubu recognises the importance of fiscal guardrails, as evidenced by his clear directive to Government‑owned Enterprises and to the heads of all agencies to meet their assigned revenue targets. To support this, he said: "An end‑to‑end digitisation of revenue mobilisation — standardised e‑collections, interoperable payment rails, automated reconciliation, data‑driven risk profiling, and real‑time performance dashboards — will be deployed so that leakages are sealed, compliance is verifiable, and remittances are prompt." These targets, President Tinubu noted, will form core components of performance evaluations and institutional scorecards. "Nigeria can no longer afford leakages, inefficiencies, or underperformance in strategic agencies. Every institution must play its part. In short: we will spend with purpose, manage debt with discipline, and pursue broad-based, sustainable growth." These are grand plans and clear directives from President Tinubu. The National Assembly, too, has a vital role to play in ensuring the successful implementation of the 2026 budget. Many of the unimplemented projects in the 2025 Budget, for instance, were constituency projects, the brunt of which was borne by lawmakers who tended to allocate the jobs even when the projects had not been cash-backed. Beyond approving the 2026 appropriation, therefore, the lawmakers must show greater restraint and prudence

Trump is eager to ingratiate himself with evangelicals in his country, our leaders here are desperate to dispel the notion of a religious war in Nigeria, lest it becomes a self-fulfilling prophecy. Official accounts say the Sokoto target was chosen because intelligence indicated that an ISWAP team was assembling there. Complicating this claim however was the widely shared video of a recent rally in Washington, D.C, by far-right pro-Trump elements supported by some Nigerian Diaspora elements, where they called for the “Sokoto Caliphate” to be declared an “international terrorist group”. Check your History books; there has been no Sokoto Caliphate since 1903, when Lord Lugard read a proclamation dissolving it on behalf of the English King. Of course its old territory is still there and its old traditional ruling structures are still there, now fragmented by state creation into innumerable entities without effective central coordination and mostly symbolic appearance. Besides, the old Caliphate’s territory, plus that of the sibling Kanem Borno Empire, are the ones most ravaged today by terrorism and banditry. Was Sokoto target chosen in answer to that rally’s demand? US State Department suggested that Friday morning’s attack was only the beginning and that many more will follow. If the US really wants to help, why not provide our forces with the weapons, training and sophisticated intelligence support to carry out the mission themselves, the way USSR gave Federal troops MiG-17 fighter-bombers during the Civil War but did not drop bombs on Biafran towns? Anyone who desires to trust Donald Trump should first ask Mexicans, Icelanders, Dutch, Canadians, Ukrainians, Gazans, Iranians, Indians, Chinese, South Africans, Syrians, Venezuelans, International Criminal Court, United Nations, Elon Musk, Department of Government Efficiency workers, American Blue City mayors, Presidents of US TV networks and Presidents of Ivy League universities.

in handling their constituency projects. The 2026 budget has other notable aspects. One, it re-presents a defining moment in the national journey of reform and transformation. The 2026 Budget, as President Tinubu said, "reflects the government's determination to lock in macroeconomic stability, deepen competitiveness, and ensure that growth translates into decent jobs, rising incomes, and a better quality of life for every Nigerian." Two, in line with the Renewed Hope Agenda and the practical needs of Nigerians, the budget prioritises five critical sectors: defence and security - N5.41 trillion; infrastructure - N3.56 trillion; education N3.52 trillion; and health - N2.48 trillion. As the President rightly said, these priorities are interlinked: "Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprises will not scale." To all intents and purposes, the government has drawn appropriate lessons from the drawbacks of the 2024 and 2025 budgets. That is why the 2026 Budget is guided by three basic principles: better revenue mobilisation, better spending by prioritising projects, and better accountability through strengthened procurement discipline, monitoring, and reporting. There is a strong optimism that it will yield outcomes that benefit all, which hopefully the perennial cynics would acknowledge. •Rahman is Senior Special Assistant to the President on Media & Special Duties.

T H I S D AY • MONDAY, DECEMBER 29 , 2025

MONDAYSPORTS Indomitable Lions Roar Back to Hold Cup Holders Elephants Group Sports Editor Duro Ikhazuagbe

Email duro.ikhazuagbe@thisdaylive.com

08111813083 SMS Only

AFCON 2025 Amad Diallo scored his second goal of the 2025 Africa Cup of Nations (AFCON) as holders Ivory Coast drew with Cameroon in an enthralling clash between the tournament heavyweights in Marrakech, Morocco. In a much-anticipated early showdown between two potential challengers for the title, Junior Tchamadeu struck a deflected equaliser less than six minutes after Amad had exquisitely curled the Elephants in front as part of a result which ensures both sides remain a point clear of Mozambique at the top of Group F and also eliminates Gabon. Manchester United forward Amad, who scored the only goal in his country’s opening win over Mozambique, collected Ghislain Konan’s crossfield pass on a counter-attack and produced an effort worthy of watching France striker Kylian Mbappe from the edge of the box, finding the far corner of Devis Epassy’s net to break the deadlock in the 51st minute. His strike was part of an

extraordinary flurry of action at the start of the second half, arriving shortly after Ivory Coast’s Franck Kessie had a deft finish ruled out for offside and Danny Namaso hit the crossbar via two deflections at the other end. A relatively quiet first period offered uncompromising intensity and glimpses of the entertainment to come, including a shot against the woodwork by Cameroon debutant Christian Kofane. All four Group Fteams play their third and final matches of the initial stage on Wednesday (19:00 GMT), when Ivory Coast face Gabon in Marrakech and Cameroon meet Mozambique in Agadir.

R E S U LT S AFCON 2025 Gabon 2-3 Mozambique E’Guinea 0-1 Sudan Algeria 1-0 Burkina Faso Ivory Coast 1-1 Cameroon TODAY Angola v Egypt Zimbabwe v S’Africa Comoros v Mali Zambia v Morocco

Igoche Mark Joins Oyedeji, Diogu Families to Mourn Loved Ones

The basketball community in Nigeria is mourning, following the passing of Madam Felicia Oyedeji, mother of Olumide Oyedeji, and Dr. Edward Chiedoze Diogu, father of Ike Diogu, both former captains of the Nigerian national basketball team, the D’ Tigers. Igoche Mark, initiator of the Mark D’ Ball Basketball Championship, has extended his heartfelt condolences to the Oyedeji and Diogu families. In a statement, Mark acknowledged the fragility of life, emphasizing the importance of legacy: “A poignant reminder of life’s fragility and love’s enduring power marked the passing of Madam Felicia Oyedeji and Dr. Edward Chiedoze Diogu,

beloved parents of sports icons Olumide Oyedeji and Ike Diogu.” He praised the deceased, saying: “Madam Oyedeji, a beacon of faith and love, lived a life devoted to her family. Her legacy as a devout Christian, respected businesswoman, and loving matriarch inspires generations. Dr. Diogu, a revered community figure, instilled values and discipline that shaped Ike’s remarkable basketball career.” Mark prayed for the grieving families, saying: “May God grant you strength, comfort, and peace. May memories of your loved ones bring joy, solace, and inspiration.”

Manchester United’s Amad Diallo (right), celebrating his opening goal for Ivory Coast in the 1-1 draw with Cameroon in the Africa Cup of Nations in Morocco on Sunday night

Goldberg Leads Fan Celebration as Super Eagles Advance to Round of 16 ‘Our Beat, Our Gold’ took centre stage on Saturday as Goldberg Lager Beer celebrated Nigeria’s 3–2 victory over Tunisia, turning the Super Eagles’ qualification for the Round of 16 at the Africa Cup of Nations into a shared fan experience rooted in football, culture and the easy excitement of Detty December. At the expansive Ilubirin Way in Lagos, the sight was unmistakable. Fans gathered early, many with bottles and cans of ice-cold Goldberg Lager Beer in hand, settling into a relaxed but engaging viewing environment designed

jackpot. Ajibuwon, whose ultimate ambition is to win Olympic gold for Nigeria, dominated Osun’s Malik Onifade in the men’s 50kg category to secure the honour. LBHF has a track record of producing notable fighters, including Taiwo “Esepo” Agbaje, the WBF Intercontinental champion who honed his craft at the tournament before turning professional. Founder Wale Edun emphasized that the initiative

calm satisfaction and pride that followed the final whistle. The evening drew a mix of celebrities and culture figures who blended seamlessly into the crowd. Actor Kunle Remi, actress Shaffy Bello and DJ Kay Wise were among those present, enjoying the match alongside supporters, drinks in hand, and contributing to the sense of shared occasion rather than spectacle. Entertainment was thoughtfully woven into the programme. The Awajo dance group delivered an energetic performance between

match moments, while MC Advantage guided the flow of the evening, engaging the audience without taking attention away from the football. Throughout the night, fans moved easily between watching the game, socialising and enjoying chilled Goldberg beers. Former Super Eagles striker and AFCON winner, Brown Ideye, also attended, sharing in the experience with fans and briefly interacting with supporters who welcomed the chance to connect with a familiar face from Nigeria’s football history.

Portuguese Ambassador to Nigeria, Santos, Others Commend Promotion of Sports Tourism in Cross River Gov Otu declares open bikers carnival

Charles Ajunwa in Calabar

The Portuguese Ambassador to Nigeria, Paulo Martins Santos, has commended the Cross River State Government’s huge investment in sports tourism, promising to bring other ambassadors from Abuja next year. Cross River State Governor,

Lagos Boxing Hall of Fame Reaffirms Commitment to Boxing Devt The Lagos Boxing Hall of Fame (LBHF) has once again underlined its dedication to nurturing boxing talent in Nigeria, using its monthly tournaments as a platform to groom fighters into world-class athletes. The highlight of the 2025 edition came as Faruk Ajibuwon, gold medalist at the African Youth Games, was crowned best boxer of the year, claiming the prestigious N1m Governor’s Belt

to bring the match-day experience closer to the people. The open-air venue was carefully set up with large screens, music and branded spaces, creating a comfortable setting where supporters could watch the decisive group match together. As the Super Eagles confirmed their place in the knockout phase, cheers and applause rippled through the crowd. Bottles were raised in celebration, with fans toasting both the result and the team’s steady progress in the tournament. The moment captured the

continues to prioritize both performance and welfare. “LBHF will consistently provide a platform and opportunity for our youngsters to show what they can do and, hopefully, go on to national and international glory,” said Edun, who also serves as President of the Nigeria Boxing Federation. “The youngsters are the future, and we want to keep encouraging them through this platform.”

Senator Bassey Otu, yesterday, declared open the Bikers Carnival as part of programmes to mark the 20 years edition of Carnival Calabar themed ‘Traces To Time’ held at the Millennium Park Roundabout, Calabar. Ambassador Santos, who gave the commendation yesterday at the commencement of the 2025 Bikers Carnival,

said the annual carnival is a come back experience. “I know you have been doing this for 20 years but it looks like you have been doing this for 200 or 2,000 years because of the level of professionalism. The enthusiasm makes me believe you have been doing this forever. “For me, this is like a come

The flag off of the 2025 Bikers race in Calabar...at the weekend

back experience. The Portuguese have been in this part of the world more than 550 years ago in the 15th Century. “We also have here names that are visible in the names of cities, caves, rivers. The geographic name you still use today, Calabar, is one of those examples. Calabar means the quiet harbour in Portuguese.

Price: N400

MONDAY, DECEMBER 29, 2025 • T H I S D AY BACK PAGE LEAD PHOTOGRAPH

AT SGF'S EVENT IN MAKURDI ...

L-R: Vice President Kashim Shettima: Secretary to the Government of the Federation, Sen. George Akume and Governor of Benue State, Rev. Hyacinth Alia during SGF's event in Makurdi, Benue State on Saturday

MAHMUDJEGA VIEW FROM THE GALLERY

All the US Bomb’s Debris

merican drones dropping bombs on Nigerian soil is a very big deal historically, politically, psychologically, diplomatically, militarily, legally, geo-politically, medically, criminologically, imperialismically, Africo-logically and colonialsically. In all our life as an independent country, every national government had worked at various times to ward off foreign encroachment on our sovereignty, security or dignity. Tafawa Balewa resisted French nuclear tests in the Sahara Desert; Gowon resisted De Gaulle’s support for the break-up Trump of Nigeria; Gowon joined other African leaders to sever diplomatic ties with an OAU member state, Egypt; Murtala Israel because it occupied the territory of defied US President Ford’s circular to

African leaders, declared that “Africa has come of age” and recognized MPLA government in Angola; Obasanjo nationalised Western banks and oil firms in Nigeria doing business in Apartheid South Africa; Obasanjo also rejected French meddling in Chadian civil war and sent a Nigerian peace keeping force; Shagari defied US President Reagan’s order and attended an OAU Summit in Tripoli; Buhari recognized Polisario’s rule in Western Sahara despite Western support for Moroccan annexation; Abacha kicked when the French naval cruiser Lavoisier docked off the Nigerian coast to offer support to Cameroon during our tangle with our neighbor over Bakassi. Vive la difference. Since November, when the mercurial US President Donald

Trump threatened to carry out military raids in Nigeria in order, he said, to stop the genocide of Christians by Jihadists, our government mounted many efforts to ward off such an attack and to correct his perception of the nature of the insecurity problem in Nigeria. It was not possible, since Mr. Trump’s trumped-up perception is basically designed to ingratiate himself with a domestic evangelical constituency. When the US finally dropped bombs, our government saved face by saying it authorised it, though Trump made no mention of that. The strike, when it came at 1am on December 26, raised many questions. Continued on page 30

TUNDERAHMAN GUEST COLUMNIST

Bridging the Gaps in Budget Implementation

o state that there are gaps in the implementation of the 2024 and 2025 budgets is actually stating the obvious. One does not need to be an economist or an expert in fiscal matters to know this. Top government functionaries charged with budgetary matters have all made the point and confirmed that the budgets were not fully funded for apparent reasons. This admission reflects an attribute typically rare in government – transparency. In August, at a stakeholders' engagement on the implementation of the 2025 capital budget and related issues in Abuja, Dr. Tanimu Yakubu, the Director-General of the Budget Office of the Federation, pointed out that the Federal Government was funding the capital component of the 2024 budget using revenue accruing under the 2025 Budget. He also noted that the 2025

revenue projections in the budget had been underperforming because the country had not met the oil production quota. Questions, therefore, arose in some quarters about the level of budget implementation. President Bola Tinubu's announcement in August that the administration had met its 2025 non-oil revenue target even triggered more questions. What then was the issue regarding budget implementation? It must be noted, however, that there are additional revenue sources for funding budgets beyond Internally-Generated Revenue. These include funding by development partners and foreign and domestic loans. If the IGR performs and there are gaps in other revenue sources, there could also be limitations in budget implementation. In that seemingly innocuous statement, President Tinubu was referring to the non-oil revenue component of the

budget for the year. Following the below-par performance of the 2024 Budget, the National Assembly approved the rollover of the budget into 2025. The parliament later also approved the rollover of 70 percent of the 2025 capital projects into 2026. Given this background of poor budget execution, some had suggested a holistic review of the budgeting process to upend the cycle of rollovers and non-implementation. Dr Muda Yusuf, the CEO of the Centre for the Promotion of Private Enterprises, among others, proposed that rather than discard projects that were approved but not implemented, it would be more prudent to consolidate outstanding projects, clear the accumulated backlog and re-present them within a more coherent and credible framework. Two weeks ago, President Tinubu moved

decisively to address the implementation problems associated with the 2024 and 2025 budgets by using the practical template of the 2026 budget. Presenting the N58.18 trillion 2026 budget proposals to the National Assembly on Thursday, December 18, 2025, the President declared an end to budget rollovers and multiple budgets. Despite the challenges, the 2026 budget aligns well with the December-January budget cycle. Aptly titled "Budget of Consolidation, Renewed Resilience and Shared Prosperity," this new budget is essentially anchored on fiscal planning, discipline, resilience and sustainable development in line with the Renewed Hope Agenda. With the budget, President Tinubu plans to consolidate macroeconomic stability, improve the business and investment environment,

Continued on page 30

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