THURSDAY 25TH DECEMBER 2025 by THISDAY Newspapers Ltd

Petroleum Ministry Moves to Fully Automate Activities, Begins Paperless Interface Eyesan assumes duty at NUPRC, pledges oil, gas output growth

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

Ministry of Petroleum Resources yesterday announced plans to fully automate its

operations, setting the stage for paperless interactions across its departments as part of a

push to improve efficiency, transparency, and service delivery in Nigeria’s oil and

gas sector. The initiative coming under the federal govern-

ment’s Enterprise Content Continued on page 38

In keeping with our tradition, your favourite newspaper, THISDAY, will be off the newsstands tomorrow Boxing Day. It will however return on Saturday. Merry Christmas to all our esteemed readers. Thursday 25 December, 2025 Vol 30. No 11218. Price: N400

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UT H

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Tinubu Mourns Nigeria’s Ex-permanent Representative to the UN, Arthur Mbanefo... Page 10

NUPRC, NDIC Emerge Tops on ICPC’s 2025 Integrity Report, NNPC, FCSC at Bottom Alex Enumah in Abuja

The Nigerian Upstream Petroleum Regulatory Com-

mission (NUPRC), the Nigeria Deposit Insurance Corporation

(NDIC) and the Asset Management Corporation of Nigeria

(AMCON) have come tops in the

Continued on page 38

Tinubu at Christmas: I’m Committed to Religious Freedom, Security of All Nigerians

Reiterates resolve to safeguard national unity, stability Jonathan, Atiku urge hope, unity, resilience Mark calls for vigilance, sacrifice, tolerancee Govs, CAN, northern elders urge harmony CDS celebrates troops’ courage, discipline, Olukoyede preaches values of love, others too

Deji Elumoye, Chuks Okocha, Michael Olugbode, Alex Enumah, Sunday Aborisade, Onyebuchi Ezigbo, Kuni Tyessi, Linus Aleke, Folalumi Alaran in Abuja, Segun Awofadeji in Bauchi, James Sowole in Abeokuta, Hammed Shittu in Ilorin, Blessing Ibunge in Port Harcourt and Ahmad Sorondinki in Kano President Bola Ahmed Tinubu has one again assured Nigerians of adequate protection from any form of religious violence, reiterating his commitment to freedom of faith. In his Christmas Message, Continued on page 38

NATION ON THE AGENDA...

Senate President Godswill Akpabio in critical discussion on the state of the nation with Chairman Senate Inter-parliamentary Committee, Senator Jimoh Ibrahim at the last plenary for the year.

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THISDAY • THURSDAY, DECEMBER 25, 2025

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

NEWS

COURTESY CALL ON DELTA STATE GOVERNOR...

L-R: Managing Director/Chief Executive Officer, South South Development Commission (SSDC), Ms. Usoro Offiong Akpabio; Governor of Delta State, Mr. Sheriff Oborevwori; and Senator Ede PHOTO: SSDC Dafinone, after a courtesy call on the governor by Akpabio, yesterday

PIA: Senate Threatens Sanctions as Oil Firms Flout Host Communities’ Law Sunday Aborisade in Abuja

The Senate has issued a stern warning to International Oil Companies (IOCs) operating in Nigeria, vowing tough sanctions against any firm that fails to comply with the Petroleum Industry Act (PIA) provisions on the establishment and implementation of Host Communities Development Trusts (HCDTs). Chairman of the Senate Committee on Host Communities, Senator Benson Agadaga, delivered the warning during an interactive session with the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). He insisted that the era of lax evasion was over and that defaulters must face the full weight of the law. Agadaga, according to a statement by his Media Office yesterday, in Abuja, acknowledged that the PIA, through the HCDT framework, has contributed to reduced hostility in the oil industry and

relative peace in the Niger Delta. However, he stressed that the gains remain fragile due to widespread non-compliance by several oil firms. Speaking with palpable frustration, the Bayelsa East lawmaker said decades of oil exploration had left many host communities environmentally devastated and economically abandoned, despite their central role in sustaining the nation’s economy. He said, “I come from Oloibiri, where oil was first discovered in Nigeria. Shell

has left that place completely devastated. “There is nothing to show for their operations. The people are worse off today than before oil was found.” According to him, the PIA was enacted to correct such historic injustices, but poor implementation has continued to undermine its objectives. He lamented that while a few companies have embraced their responsibilities, many others have failed woefully. “A lot of them are not doing what the law says. NUPRC, as

The Vegetable/Edible Oil Producers Association of Nigeria (VEOPAN) has appealed to the federal government to implement stricter enforcement against smugglers of vegetable and edible oil in order to give local producers a breather and grow the sub-sector. National Chairman of VEOPAN, Chief Okey Ikoro, while briefing journalists in Owerri, lamented the scourge associated with the continued flooding of Nigerian markets with

to enforce accountability. Agadaga linked the neglect of host communities to broader national instability, recalling the economic and social tensions that followed the removal of fuel subsidy. He argued that Nigeria’s economic benefits are derived from lands that have been severely disturbed, while the people who bear the burden are left impoverished. “The wealth solving Nigeria’s problems is coming from the lands God has given to these communities, yet they are the

ones suffering. This injustice must end,” he said. The session came amid a leadership transition at the NUPRC following the resignation of its chief executive, a development Agadaga described as a critical moment to reset the regulator’s priorities. He demanded detailed disclosures from the commission on the implementation of the PIA, including funds paid to host communities, identities of beneficiaries and fund managers, and evidence of judicious utilisation of the resources.

2027: Tinubu Inaugurates Buni-led 15-man APC Committee on Strategy, Conflict Resolution, Mobilisation Members include Uzodimma, Abdulrahman, Oyebanji, Fubara, Banire, Bello, Oyetola, others

Deji Elumoye in Abuja

President Bola Tinubu has inaugurated a Committee on Strategy, Conflict Resolution and Mobilisation to resolve conflicts

within All Progressives Congress (APC) as it approaches the 2027 general election. The committee, which comprised governors of the party, members of the Federal

VEOPAN Demands FG’s Enforcement of Existing Laws Against Vegetable Oil Smuggling

Amby Uneze in Owerri

the regulator, must make them sit up. Where they fail, there are clear sanctions, including withdrawal of operating licences,” Agadaga warned. He disclosed that his committee has already published the names of non-compliant oil companies, noting that existing regulations empower the regulator to act decisively against erring operators. He said, “NUPRC should not fail in its responsibility. If they do, we will oversee them and make them sit up,” underscoring the Senate’s determination

smuggled products thereby undermining local producers, killing jobs, and sabotaging the country’s industrial growth agenda, despite clear government policy restricting refined vegetable oil imports. Ikoro expressed displeasure at the level of implementation of the policy by relevant government agencies including NAFDAC, SON, Customs, etc, adding that if stricter border enforcement, improved coordination, market surveillance, support for local refining could be activated, the country would

benefit immensely from the local producers. According to him, the smuggled oil are unbranded, so no one can trace their origin, expiry dates, saying these make it risky for human consumption. “We think that the government should mandate Customs, NAFDAC, SON, etc to regulate and enforce this policy. We are not asking for subsidies, but enabling environment, protecting the laws already made and enforcing them so that the sector can survive.

Executive Council, and other notable stakeholders, has the governor of Yobe State, Mai Bala Buni, as Chairman, and former Legal Adviser of APC, Muiz Banire, as Secretary. Other members included Senator Adamu Aliero; Chairman of the Nigeria Governors Forum (NGF) and Governor of Kwara State, Abdulrahman AbduRazak; Chairman of Progressive Governors Forum and Governor of Imo State, Hope Uzodimma; Governors Hyacinth Alia (Benue), Umar Namadi (Jigawa), Bassey Out (Cross River), Abiodun Oyebanji (Ekiti), and Sheriff Oborevwori (Delta). Others were Governors Uba Sani (Kaduna), Siminalayi Fubara (Rivers); Minister of Marine and Blue Economy, Adegboyega Oyetola; Minister of State for Defence, Bello Matawalle; and former Governor of Kogi State, Yahaya Bello.

Speaking at the inauguration of the committee in Lagos, yesterday, Buni, according to a statement by presidential spokesperson, Bayo Onanuga, expressed gratitude for being chosen as the chairman and for the party’s confidence in the members. He said the committee would execute the assignment with utmost responsibility and dedication. Buni stated, “The committee will engage in strategic engagements and consultations to develop an all-encompassing, productive and result-oriented strategy that will stand the test of time. “We shall implement a system that gives everyone, especially aggrieved parties, a sense of belonging and inclusion, with a renewed hope. “Similarly, the committee will consider proactive measures, solutions, and the potential threats in our conflict resolution approach.”

The Yobe State governor urged members “not to allow personal interest and sentiments to override the general interest and purpose for which this committee is constituted”. Tinubu had on December 19, at the 15th National Executive Committee (NEC) meeting of APC, held at State House Conference Centre, Abuja, emphasised the need for cohesion within the ruling party. He reminded party leaders that APC was built on the ideals of progressive politics, broad-based participation, and respect for diversity of opinion. The president said at the meeting , “We must continue to be resolute that this democracy that we take in our hands must not fail. We say we are bigger. “We are larger and taller. But it should now be in our hearts to be accommodating. That’s the only way we can be resilient, we must be tolerant.”

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THURSDAY, DECEMBER 25, 2025 • THISDAY

NEWS

INAUGURATION OF STRATEGY, CONFLICT RESOLUTION AND MOBILISATION COMMITTEE...

L-R: Senior Special Assistant to the President on Political Matters, Alhaji Ibrahim Masari; former Kebbi State Governor, Senator Adamu Aliero; Kaduna State Governor, Senator Uba Sani; Delta State Governor, Mr. Sheriff Oborevwori; Mr. Muiz Banire; Ekiti State Governor, Mr. Biodun Oyebanji; Yobe State Governor, Hon. Mai Mala Buni; former Kogi State Governor, Mr. Yahaya Bello; President Bola Ahmed Tinubu; Benue State Governor, Rev. Fr. Hyacinth Alia; Kwara State Governor, Mr. AbdulRahman AbdulRazaq; Minister of State for Defence, Mr. Bello Matawalle; Lagos State Governor, Mr. Babajide SanwoOlu; and Rivers State Governor, Mr. Siminalayi Fubara, during the inauguration of the Strategy, Conflict Resolution and Mobilisation Committee at the President Tinubu residence, Lagos, yesterday

Tinubu Mourns Nigeria’s Ex-permanent Representative to the UN, Arthur Mbanefo Deji Elumoye in Abuja

President Bola Tinubu has sent his condolences to the family of Nigeria’s former Permanent Representative to the United Nations, Chief Arthur Christopher Mbanefo, who passed on at the ripe age of 95.

Chief Mbanefo was Nigeria’s former Permanent Representative to the United Nations and former Pro-Chancellor of the University of Lagos, Obafemi Awolowo University, and Ahmadu Bello University. He was also a fellow of the Institute of Chartered Accountants of England and the Institute of

Chartered Accountants of Nigeria. The President, in a statement issued on Wednesday by his Adviser on Information and Strategy, Bayo Onanuga, mourned the accounting icon, thought leader, and administrator, describing him as one of the finest stocks of Nigeria’s

elder statesmen, set apart by integrity, hard work, and patriotism. Tinubu described Chief Mbanefo, as a public servant, who served Nigeria with dedication and a high sense of duty. While in the private sector, he pioneered innovations in the nation’s

accountancy, tax, and audit systems. The President also commiserated with the friends, associates, as well as the government and the people of Anambra State on the passing of the elder statesman. He encouraged all who are

mourning to find solace in the legacy of the late elder statesman, who will live eternally through his good work, etched permanently in our nation’s development tome. Tinubu prayef for the repose of Chief Mbanefo’s soul and comfort for his family.

Persecution of Christians Cannot Continue, Attacks in Nigeria Must End Now, Netanyahu Charges FG in Christmas Message Chiemelie Ezeobi Israeli Prime Minister Benjamin Netanyahu, yesterday said the persecution of Christians or members of any religion cannot and must not be tolerated, just as he stressed that Muslim militant displacement and attacks against Christians in Nigeria must end now. Netanyahu, who made this statement yesterday in a video posted on his handle on X, formerly known as Twitter, sent a strong Christmas message from the Holy Land, emphasising Israel’s commitment to protecting Christians in the

Middle East and condemning religious persecution worldwide. He said: “From Jerusalem, I send warm greetings to our Christian friends around the world. I wish you a Merry Christmas and a Happy New Year. From here, the Holy Land, Israel, the only country in the Middle East where the Christian community is thriving,” Netanyahu said. Highlighting Israel as a safe haven for Christians he said: “Israel is the only country in the Middle East where Christians can practise their faith with full rights and in total freedom. “Where Christian pilgrims are

embraced with open arms and are so deeply appreciated. Where Christians can celebrate proudly their traditions and openly do so without any fear.” Netanyahu contrasted Israel’s support for Christians with events elsewhere in the region. “In Jerusalem, the city municipality every year officially distributes Christmas trees. It’s been doing so for two decades. “By contrast, a few days ago, in the Palestinian town of Jenin, Palestinians burnt a Christmas tree in the Holy Redeemer Church. That’s the difference. Israel stands up for Christians across the region. Wherever they

ning Committee for the Operationalisation of the Ogoni Specialist Hospital led by Prof. Christy Mato made a presentation of report on the sustainability of the specialist hospital, at the HYPREP office, in Port Harcourt. He noted the committee’s work is an essential phase in bringing the hospital into service, stressing that the

detailed planning, consultations, and assessments they have undertaken will guide the next steps to complete construction and, thereafter, commence operations. According to Zabbey, the Ogoni Specialist Hospital is a central component of the multilayered public health interventions being implemented by HYPREP in Ogoniland.

face widespread intimidation and persecution.” He expressed concern over declining Christian populations in neighbouring countries. “While Israel’s Christian population is growing, the Christian population in countless areas across the region has been dwindling due to systematic discrimination and oppression. “This has happened in Iraq. It’s happened in Syria. It’s happened in Lebanon. It’s happened in Turkey. And it’s happening in the Palestinian Authority.”

Late Mbanefo

Suleiman Yusuf: Transition to Health Intervention: Ogoni Specialist Electric Mobility Depends on Energy Hospital Nearing Completion, Says HYPREP Access Expansion, Robust Network

Blessing Ibunge in Port Harcourt

The Project Coordinator of Hydrocarbon Pollution Remediation Project (HYPREP), Prof. Nenibarini Zabbey, has noted the construction of the Ogoni Specialist Hospital (OSH) has advanced to 78.2% completion. Prof. Zabbey disclosed this when Technical Plan-

Kuni Tyessi in Abuja

Nigeria’s transition to electric mobility will ultimately depend on the expansion of energy access and a robust network of renewable-powered charging infrastructure, according to Suleiman Yusuf, Chief Executive Officer of Bankrol Camel EV. He noted that while the country is beginning to align with global low-carbon transport trends, urgent invest-

ment in energy infrastructure remains critical to sustaining the shift. Yusuf made the remarks at the Electric Vehicle (EV) Fair organised by the Presidential Initiative on Compressed Natural Gas (PiCNG) at Eagle Square, Abuja. The event brought together senior government officials, industry leaders, investors and innovators to showcase Nigeria’s rapidly evolving clean-mobility ecosystem.

Also addressing the gathering were the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, represented by Abel Igheghe, Senior Technical Adviser (Downstream); the Executive Chairman of PiCNG, Ismaeel Ahmed; the Director-General of the National Automotive Design and Development Council (NADDC), Oluwemimo Joseph Osanipin; and business leader Rabiu Isyaku Rabiu, Chairman of IRS Group.

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THURSDAY, DECEMBER 25, 2025 • THISDAY

NEWS

HANDOVER CEREMONY AT NUPRC...

L-R: Erstwhile Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe and new CEO of the commission, Oritsemeyiwa Eyesan, after a brief handover ceremony at the NUPRC headquarters in Abuja...on Tuesday

Sanwo-Olu: New Tax Law Designed to Boost Sub National Govts’ Revenue Needs Answers critics, says Tinubu’s tax reform will relieve the poor Oyedele: Quality data central to the success of new tax framework

The success of President Bola Ahmed Tinubu’s tax reform journey will depend not only on legislation at the federal level, but also on the effective implementation of the new tax law at the sub national level, Lagos State Governor Babajide Sanwo-Olu said on Tuesday. Sanwo-Olu disclosed Lagos had been readjusting its revenue portal in readiness for the harmonisation of the new tax law expected to take effect in January, stressing the state would effectively play its role in aligning the policy with practice and strengthen intergovernmental collaboration. Sanwo-Olu spoke at the Tax Reform Summit organised by the Lagos State Government. The two-day event holding at Marriott Hotel in Ikeja, is jointly hosted by the Office of the Special Adviser on Taxation and Revenue and the State Treasury Office, with the theme: “Tax Reform Summit: The Lagos Implementation Road Map”. The governor said Lagos had been operating within a national fiscal framework, noting that the State remained fully aligned with the ongoing tax reform initiated by the Tinubu administration.

Sanwo-Olu dismissed critics who argued that the reforms would put more burden on the poor and further strengthen the hand of the rich, pointing out that the new tax law sought to simplify the nation’s tax regime by reducing multiplicity, strengthening administration, and modernising revenue collection through technology. He said: “The new tax laws initiated by Mr. President are fundamentally designed to create a system that supports economic growth at sub national level while ensuring fairness, predictability and improved compliance. “Contrary to its critics’ baseless assumptions, the new tax law will protect small businesses and ensure that the rich fulfill their obligations to the society. It will block leakages and expand the tax net. “Instead of making futile attempts to undermine the progress, we must give kudos to President Tinubu for taking the bold steps he is taking, considering the fact that the pains are gradually giving way for the gains. “We will welcome a system that will reduce multiplicity, strengthen administration and modernise revenue collection

through technology. Only an audacious, confident and experienced leader can make these bold reforms.” “The success of the tax reform journey will depend not only on legislation at the federal level, but on effective implementation at the state level. “Lagos is ready to play its leadership role by aligning policy with practice, strengthening inter-governmental collaboration, and maintaining

continuous engagement with the private sector and professional bodies.” Sanwo-Olu said the national tax reforms resonated with Lagos’ “long-standing approach” to public finance, noting that the State faced unique development pressures that demand sustainable, internally-driven revenue solutions. The summit’s focus, the governor said, signaled the state’s readiness to move beyond policy conversations

to practical implementation. He said the approach adopted by the Lagos State Government towards the new tax framework was to encourage governance reform anchored on simplicity, transparency, digital efficiency and fairness. “Lagos State is positioning itself as a leading sub-national in the implementation of these reforms. Our focus is not merely compliance with new frameworks, but effective

execution that delivers real value to citizens and businesses,” Sanwo-Olu said. Commissioner for Finance, Mr. Abayomi Oluyomi, noted that Lagos remained a trailblazer in fiscal innovation and revenue administration, but the new tax framework presented both a challenge and an opportunity to build a tax system that would not only be more efficient but also equitable and conducive to sustain the state’s economic growth.

FG, Czech Energy Company Sign MoU to Generate Power for Special Economic Zones Oghenevwede Ohwovoriole in Abuja The federal government has signed a Memorandum of Understanding (MoU), with RSE Energy, a Czech Republic energy company to generate electricity for special economic zones at a reduced cost. The MoU signing event took place on Tuesday in the office of Minister of State Industry, Trade and Investment, John Enoh, in Abuja. On the agreement, Eno said: “I am happy that finally we are

aware an MoU can be signed between our government and RSE. Listening to the Permanent Secretary, this journey started even before I was posted here, but I am glad that a year after that, we made progress to the point in which we can get this signed. “And I am glad that we are having to do this before the end of the year, just so we can start next year with beginning to work, to put into practice. “An MoU has commitments from both parties. I mean, there are commitments and

expectations from you, and there are also commitments and expectations from the Ministry of Industry, Trade and Investment representing our country. “But looking at the solution that you are coming with is off-grid, embedded power solutions, biomass and gas that are supposed to provide some kind of pathway to reliable energy. “Our hope is that we will see this demonstrated in real terms. And of course, the target, I find out, is also the target that

also resonates with our own target; industrial clusters, special economic zones, agric-processing establishments and all of that. “My hope is that your company will be amongst the solution providers, even for the Idu Industrial Cluster and all of that, because we’re trying to use the Idu Industrial Cluster as some kind of test case. “We hope that we’re able to achieve reliable and affordable power supply to the Idu Industrial Cluster. It can become a template to replicate across the country.” The CEO, of RSE Energy

UK-funded SPRiNG Links Mining Activities to Violence in Parts of Nigeria Emmanuel Addeh in Abuja

The Strengthening Peace and Resilience in Nigeria (SPRiNG), a UK-funded initiative has convened a ‘dissemination and policy dialogue’ workshop to unveil its latest research, which found a nexus between mining and

insecurity in North-central and North-west Nigeria. This research comes at a critical moment in Nigeria’s ongoing debate over how best to address illegal mining, violence, and economic development in the solid minerals sector. The research which was

unveiled during a workshop held in Abuja, was conducted by Levin Sources, the Centre for Conflict Management and Peace Studies (CECOMPS) of the University of Jos, and the Centre for Peace and Development Studies (CPDS) of the Moses Orshio Adasu University, Makurdi, drawing

on evidence from Benue, Plateau, and Kaduna States. It came amid heightened national attention on miningrelated insecurity. In December 2025, the Northern Governors Forum (NGF) proposed a sixmonth suspension of mining activities to audit licenses and curb terrorism financing alleg-

edly linked to illegal mining. The proposal has generated debate, with the Miners Association of Nigeria (MAN) opposing a blanket ban and advocating instead for stricter regulation and enforcement against illegal operators. At the same time, the federal government recently

lifted the 2021 mining ban in Zamfara State to revive the local economy and approved a nationwide ban on mineral processing plants in residential areas to address environmental and public health concerns, signalling a policy shift towards targeted regulation rather than broad suspensions.

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

T H I s D Ay • THURSDaY DECEMBER 25, 2025

Politics

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

Obi, Okafor: Vision Beyond Politics

David-Chyddy Eleke reports that Presidential candidate of Labour Party in the 2023 election, Mr Peter Obi and the Managing Director and Chief Executive Officer of Keves Global Leasing, Chief Ikenna Okafor, are two brothers from anaocha Local Government area of anambra State that have embarked on a silent revolution in the educational sector.

obi

x-presidential candidate of the Labour Party, Mr Peter Obi and Chief Executive Officer of Keves Global Leasing, Chief Ikenna Okafor, have for sometime embarked on philanthropic journey. What is heartwarming about it is how seriously they take this task, and how much they are achieving, even though silently, not minding that none of them is currently holding any political office, or running for one. Early this year, there was a report that Mr Peter Obi had given out over N1.5billion in philanthropy in the previous year (2024). These funds were mostly donated to supporting health education. Mostly to Colleges of Nursing Sciences, Schools of Midwifery and University Teaching Hospitals. Responding to a journalist’s question about his decision to commit over N1.5billion to humanitarian causes in 2024, during a visit to the Anglican Bishop of Nnewi, Rt. Rev. Ndubisi Obi, Obi stressed that his acts of giving are not about self-promotion but are driven by a genuine concern for humanity. Obi explained that his philanthropy is motivated by the visible impact of such efforts and the opportunity to make meaningful contributions to people’s lives. He said: “Even before my public life, I have always derived satisfaction from contributing to worthy causes that uplift humanity. For instance, I was in Haiti after the earthquake, where I contributed to its rebuilding. Similarly, even before I became Governor, I had extended help to places in need according to my capacity. When you witness such dedication to humanity, it is impossible not to contribute – not for personal recognition, but for the sake of humanity,” Obi remarked. When asked if his philanthropy was an attempt to bolster his public image, Obi dismissed the notion, stating that giving back to society is his way of fulfilling not only his moral and spiritual obligations but also his duty to the society that nurtured him. He affirmed his commitment to continuing these efforts as long as God grants him the resources to do so. This year alone, Obi has criss crossed the length and breadth of Nigeria, visiting over 50 health colleges, donating his hard

okafor

earned money for the upgrade of facilities in such places. For each of the institutions he visited, he gave between N10million and N20 million each. The interventions are usually either after the management of such colleges complained about funds for generating plants, upgrade of students hostels, accreditation of new courses and so on and so forth. What is amazing is that he is doing this, not in anticipation of any favour. He openly told management and students of the colleges he visited that he is not seeking any favour from him. He insisted that he stopped his visit during the 2023 election, so that it won’t seem as if he was engaging in such philanthropy for votes to boost his 2023 presidential bid. He only commenced again in 2024 after the election, and what was intriguing was that for some colleges, he issued double cheques, insisting that the first was one he wrote a year ago for the college, but couldn’t make it because of the election the previous year. Signs that Obi isn’t in the philanthropy for any gains came during a visit to Our Lady of Lourdes School of Nursing and Midwifery, Ihiala, Anambra State in early November, when the management of the college, announced in excitement after receiving N15million cheque from Obi that it would name its new administrative

building after him. The Administrator of the College, Rev Fr Chidiebere Ughaerumba said: “Considering your continued support to us, when the school’s administrative building (a five-floor edifice) is completed, we will name it after you. We thank you for always coming and always donating. You are always interested in helping to build humanity.” When Obi protested the decision through a strong wave of both hands, Ughaerumba adjusted and went further: “Then we may have to consider naming it after your wife, but we need to appreciate what you have been doing here.” This time, seeing that the management had made up its mind, Obi seized the microphone and protested the decision, saying it wasn’t right to name a building after him or his family, when he was only working to help humanity within his own conviction. He said: “I’m against such plans. When I was governor, every community wanted to give me a chieftaincy title, but I rejected. Even the school where I passed through wanted to honour me with a honourary doctorate title. I was also given a national award and I said that would be after being governor. Even local government chairmen wanted to name a street against my name, but I said no. Any day I want to be addressed as doctor, I will go and read for a PhD. Whatever I need, God has always given me, so if there is anything one wants to give me as favour, I suggest you look for anyone who wants it and give it to them. This week alone I have been to

Ex-presidential candidate of the labour Party, mr Peter obi and Chief Executive officer of Keves Global leasing, Chief Ikenna okafor, have for sometime embarked on philanthropic journey. What is heartwarming about it is how seriously they take this task, and how much they are achieving, even though silently, not minding that none of them is currently holding any political office, or running for one.

five schools, and I have donated between N5million and N15million each. I can use the money I am giving to buy a new car for myself or throw a party, but I think it is better to use it to support you. It is an unpurposeful life for me if I use this money to throw a party, while a school in the somewhere needs just N10 million to buy a generating set.” that is vintage Obi for you. If you think Obi is doing this because he has ambition to run for office in 2027, then you need to think of another silent revolutionary individual; Obi’s brother from same Anaocha in Anambra who has never held any political office and has no intention to hold one either. He is Chief Ikenna Okafor, a knight of the Catholic Church, a titled Chief from Akwaeze community, with the traditional title of Ide Akwaeze, who is the founder of Idi Ezeani Nzekwuabuo Foundation. Okafor is known for massive philanthropy and has the strong belief that every privileged person should help others to rise. Beyond his philanthropic gestures in other areas of life, his endeavours in helping educational institutions stand out. Like Obi, Okafor believes that education is the bedrock of success, and advocates strongly for good and sound educational sector in Nigeria. From Port Harcourt in Rivers State where his companies are headquartered to Anambra where he hails, there are visible signatures of Okafor’s works in schools across. For Chief Okafor, this is a man who is a strong lover of education and believes that his rise in life is as a result of the opportunity offered him because of the education he acquired through the sponsorship of his father. For that reason, Ide Akwaeze has an unspoken vow to not only develop schools in his community, but ensure that children in his community, Akwaeze and other neighbouring communities get the opportunity of not just going to school, but studying in comfortable environment. For this, he has several schools within his community and others which he has adopted, refurbished with state of the art facilities, and also taking up the scholarship of students in the schools. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

FEaturEs

THURSday, dECEmbER 25, 2025 • T H I S D AY

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

A Christmas Culinary Extravaganza at the GTCO Food and Drink Festival

The GTCO Food and Drink Festival Holiday Edition transformed the festive season into a true Christmas culinary extravaganza, bringing together the finest expressions of Nigerian cuisine and entrepreneurship in a lively celebration of flavours, culture and community. Held at the GT Centre, Oniru, Lagos, from December 20 to 21, 2025, the festival showcased the depth and diversity of Nigeria’s food heritage while offering local businesses a prominent platform to connect with a wider audience. Notably, the event marked the inaugural Holiday Edition of the GTCO Food and Drink Festival, setting a memorable new tradition for the Christmas season, writes MARY NNAH

The Gateway to Flavour at the GTCO Food and Drink Festival

s the curtains drew open on the GT Centre, Oniru, Lagos, last Saturday, December 20th, the excitement was palpable. Foodies, vendors, and fun-seekers alike had gathered for the highly anticipated GTCO Food and Drink Festival Holiday Edition. And it was clear that this year's event would be bigger and better than ever, with a wide range of delicious food, refreshing drinks, and lively entertainment on offer. The GTCO Food and Drink Festival Holiday Edition was a symphony of flavors, a celebration of Nigerian cuisine, and a showcase of local entrepreneurship. The festival's atmosphere was electric, with attendees of all ages mingling and sampling the diverse range of dishes on offer. Savouring the Flavuors of Nigeria: A Festival Experience Like No Other For the vendors, the festival was a platform to showcase their unique products and share their passion for food with the community. Amira Mohammed Abdulrazak, founder and CEO of Sacks and Syrup, a gourmet dessert company, attributed her success to the exposure and marketing opportunities provided by the GTCO Food Festival. "We've had a lot of event planners and people who followed through with contacting us for their events," she said. "We are expecting more sales, more exposure, and more networking opportunities this time around. We've been in business for a year now, and we have done over 830 events. It's been a wild ride, but we are grateful for the opportunity to be part of this amazing platform.” “Sacks and Syrup is a one-stop shop for all your dessert needs. We offer a range of products, from soft serve ice cream to bubble waffles, mini Dutch pancakes, and lemonades. Our goal is to provide a unique experience for our customers, and we're thrilled to be part of the GTCO Food Festival”, Abdulrazak noted further. Other vendors, such as Mariam Buba

of ChopsCityng and William Habib of Munchies After Dark, also expressed their gratitude for the opportunity to showcase their products and reach new customers. "We are a food business that specialises in jollof rice and other Nigerian delicacies," the ChopsCityng CEO, Buba, said. Speaking further, she noted, "We are loving every minute of it, and we are confident that this event will help us grow our business and reach new customers." With their consistent taste and quality, ChopsCityng has built a loyal customer base, and they are looking to expand their reach. "We are getting a lot of feedback from customers who love our food, and we are getting more orders every day," Buba said. “We are grateful for the opportunity to showcase our products and reach new customers. We are expecting a lot of sales and visibility, and we're confident that this event will help us achieve our goals", she noted further. William Habib, the owner of Munchies After Dark (MAD), a fast food business, was also part of the festival. “We are a fast food business that offers the best quality food and fast delivery”, Habib explained, noting, “We are loving the experience, and we are confident that this event will help us grow our business and reach new customers.” With their commitment to quality and customer service, Munchies After Dark is a popular choice among foodies. "We've been in the industry for over 10 years, and we've built a reputation for quality and service. We are grateful for the opportunity to showcase our products and reach new customers. We are expecting a lot of sales and visibility, and we're confident that this event will help us achieve our goals", Habib added. Anireju Ayida, CEO and Founder of Crinkles, a plantain chips brand,

A vendor and her team attend to customers

noted that the festival has helped her business gain visibility and attract new customers. "We are a plantain chips brand that is different from the conventional ones," Ayida said, adding, "We offer a range of flavors and pairings, from parfaits to yogurt, ice cream, and salads. We are loving the experience, and we are grateful for the opportunity to showcase our product." "There is visibility as well. We've been getting a lot of interest and orders, and we are expecting more sales and visibility," Ayida added. Speaking further, she said, "We are also getting a lot of feedback from customers who love our product, and we are using that feedback to improve and expand our offerings. We are confident that this event will help us grow our business and reach new customers." People who didn't know about this brand are coming here, finding out about it. They are intrigued. They have asked for Instagram handles. They are taking numbers so that they can get more orders. So it's been fantastic”, Ayida said. The festival was a celebration of Nigerian cuisine, with a diverse range of vendors offering traditional dishes and innovative fusion cuisine. From jollof rice to plantain chips, the festival had something for every palate. The vibrant atmosphere was electric, with attendees enjoying good food, drinks, and company. The smell of sizzling meat and spices filled the air, and the sound of laughter and chatter added to the festive atmosphere. Empowering Local Businesses and Communities The GTCO Food and Drink Festival also highlighted the impact of events like this on the local economy and community, even as it drew in a diverse crowd of participants, all eager to experience the rich culinary

delights on offer. Mr. Bamidele Obende, a festival attendee, came with his two children, Efi and Onofu, and shared his thoughts on the festival. “We just came to see what people are presenting in terms of the food and drinks and maybe any other things," he said. "I think it has been good so far from what we have seen.” Efi, Mr. Obende's daughter, described her experience at the event as "very nice" and said she was looking forward to trying a lot of food, especially jollof rice. Onofu, Mr. Obende's son, was equally excited, saying, "It's a nice place where people can showcase the food they have. Food is everywhere, and I am ready to eat!" Obende noted that the festival provides a platform for people to showcase their abilities and products, which in turn brings in more customers and contributes to the growth of the economy. "People can showcase their abilities and what they can actually do, and that brings people to come over to experience what people can produce," he said. "So they are also able to purchase, and that contributes to the growth of the economy as well. I think it's a great way to support local businesses and promote economic growth in our community." Another attendee, Ego Nwane, described her experience as "lovely and delicious". She was impressed by the variety of vendors and products on offer, saying, "You see lots of vendors, it's just a delicious experience for the children and me. The children have had a lot of things to drink and to eat, and clearly the cold stuff because of the weather." She noted that the festival was capable of boosting local businesses, saying, "This event is capable of boosting the local economy. Some of the vendors you see here might just be one-time vendors, maybe vendors who do their business from their house. NOTE: Story continues in the online edition on www.thisdaylive.com

THURSday, dECEmbER 25, 2025 • T H I S D AY

FEAtURES

How UBA is Pushing the Literacy Agenda through Its National Essay Competition

For 15 years, the UBA Foundation National Essay Competition has used writing as a tool to promote literacy, critical thinking and national consciousness among Nigerian secondary school students. The 2025 edition saw several thousand entries from across the country, with students challenged to explore how Nigeria’s diversity can be harnessed to build a united nation, creating a platform for young voices to engage ideas, compete intellectually and shape conversations about the country’s future. Chiemelie Ezeobi reports

L-R: Group Managing Director/CEO, United Bank for Africa (UBA), Mr. Oliver Alawuba; 1st Runner up, 2025 UBA Foundation National Essay Competition and Student of Christian International High School, Owerri, Emerald Njokwu Kelechi; Winner, and student of Igando Community Senior High School, Igando, Lagos, Ebunoluwa Seth Oluwatimelehin; 2nd Runner up, and student of Cornerstone Montessori Schools, Gudu Abuja, Bayero Fatima Auwal; and Managing Director, UBA Foundation, Mrs Bola Atta, flanked by finalists of the 2025 UBA Foundation Essay Competition for Senior School Students in Nigeria, during the grand finale of the competition held at UBA House, Lagos, recently

or 15 years, the UBA Foundation National Essay Competition (NEC) has functioned as a deliberate literacy intervention, designed to rekindle a culture of reading, writing and critical thinking among Nigerian youths. Beyond a contest, the initiative has evolved into a national platform where secondary school students are encouraged to interrogate ideas, articulate solutions to national issues and express themselves through structured writing, regardless of their social or geographic background. Through this annual competition, the UBA Foundation has steadily positioned literacy as a cornerstone of youth empowerment and national development, reaching thousands of students across urban and rural communities. This year, the competition shared grants exceeding N18 million, the highest allocation since the programme began. The first-place prize was increased to N10 million from N7.5 million in 2024, while the second- and third-place awards rose to N7.5 million and N5 million from N5 million and N3.5 million, respectively. A Historic Win at the 15th Edition That commitment was brought into sharp focus in Lagos on Tuesday when 13-year-old Ebunoluwa Seth Oluwatimilehin of Igando Community Senior High School, Igando, emerged as the overall winner of the 15th edition of the NEC. A public school student, Ebunoluwa became the youngest winner in the competition’s history and the first male winner in more than eight years, breaking a long trend of female dominance. He clinched the grand prize of a N10 million educational grant, to be used for his future studies at any African higher institution of his choice. An elated Ebunoluwa expressed his gratitude, saying, “I am incredibly grateful and overwhelmed. This competition has shown me that passion and hard work truly pay off. It has been an amazing journey that has deepened my love for writing and expressing my ideas.”

Alawuba praised the finalists for reflecting these ideals in their essays and for demonstrating how young Nigerians can build unity through understanding and collaboration.

L-R: Group Managing Director/CEO, United Bank for Africa (UBA), Oliver Alawuba; 1st Runner up, 2025 UBA Foundation National Essay Competition and Student of Christian International High School, Owerri, Emerald Njokwu Kelechi; Winner, and student of Igando Community Senior High School, Igando, Lagos, Ebunoluwa Seth Oluwatimelehin; 2nd Runner up, & student of Cornerstone Montessori Schools, Gudu Abuja, Bayero Fatima Auwaland Managing Director, UBA Foundation, Bola Atta

Rewarding Excellence Beyond the Winner The competition also recognised two other outstanding finalists. Njoku-Kelechi Emerald of Christian International High School, Owerri, emerged second and received a N7.5 million educational grant, while Bayero Fatima Auwal of Cornerstone Montessori Schools, Gudu, Abuja, secured third place with a N5 million educational grant. In addition to the monetary prizes, all 12 finalists were presented with brand-new laptops and other educational materials, reinforcing the foundation’s commitment to supporting the academic growth of participants beyond the competition stage. National Reach and Growing Participation The 2025 edition attracted several thousand entries, with participation extending beyond major cities into rural communities across the country. This broad engagement reflects the

competition’s growing relevance and its role in creating equal intellectual opportunities for students regardless of location. By insisting on handwritten essays and a strict word limit, the NEC continues to promote original thinking, discipline in writing and a renewed appreciation for reading and research among secondary school students. UBA’s Diversity Message to Young Nigerians Speaking at the event, UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, commended the foundation’s 15-year consistency and highlighted the strategic importance of the competition in shaping young minds. Emphasising the bank’s values and the relevance of the essay theme, he stated, “UBA encourages diversity. Nobody in UBA will ever be judged based on ethnicity, religion, or culture. We see diversity as a strength. In fact, if you get diversity right in Africa, you have gotten the whole world right.”

Education as Africa’s Strongest Investment Managing Director/Chief Executive Officer of UBA Foundation, Bola Atta, reiterated that education remains central to the foundation’s mission and Africa’s future. “For 15 years, this initiative has been a cornerstone of our commitment to giving back and empowering the youth. We are investing in the academic future of these brilliant minds and, by extension, in the future of our continent. Education remains the most powerful tool to lift our continent, and we are thrilled to see this programme snowballing across Africa,” she stated. She added that the 2025 theme — “Nigeria is characterised by diverse cultures, ethnicities, and religions. How can young Nigerians deploy diversity to build a united nation?”, was selected to engage students in conversations about unity and nation-building. “This year’s topic is particularly crucial as it tasks them to look at our country’s greatest asset, which is our diversity, and devise ways to leverage it for unity, growth, and national development. We believe the young minds of today hold the key to a more harmonious and prosperous Nigeria,” she stated. Atta said the increase underscores the foundation’s dedication to youth empowerment. “For well over a decade, the National Essay Competition has provided a vital platform for our secondary school students to express their ideas and showcase their intellectual prowess. In fact, parents and pupils have come to look forward to the NEC as they keep calling to ask about the commencement,” she said. The UBA Foundation noted that the NEC remains central to its goal of nurturing intellectual capacity, encouraging critical thinking and rekindling the reading culture among Nigerian youths across the country.

T H I S D AY THURSDAY DECEMBER 25, 2025 20 TR

UT H

& RE A S O

Thursday December 25, 2025 Vol 27. No 11222

opinion@thisdaylive.com

www.thisdaylive.com

WEST AFRICA AND CRISIS OF DEMOCRACY

Recent coups in the subregion reflect a collapse of public trust in democratic systems, argue CHUKWUEMEKA B. EZE AND JEGGAN GRAY JOHNSON

See page 21

NSITF’S REHABILITATION PROGRAMME

It is restoring hope, life, and dignity to injured workers, writes EMMANUEL ULAYI

See page 21

EDITORIAL

THE REAL ESSENCE OF CHRISTMAS

See page 22

Key components and didactics of Christmas are too significant to be disregarded, writes MONDAY PHILIPS EKPE

MINDING THE MANGER’S MESSAGES

Jesus of Nazareth, that man of history and incomparable, unimpeachable worth whose entry into the world is being celebrated globally never ceases to amaze inquisitive minds and receptive hearts. From his nativity to the end of his mission on earth, the stories about him have remained enthralling, over two millennia after. Being physically introduced to the world in a manger, for instance. One popular narrative about his birth is that he was born in a manger. Well, that is not explicitly stated in the Holy Bible, the only authoritative source of anything and everything about the man of Galilee. The circumstances surrounding his cradle life are mainly recorded in the Matthew and Luke gospels. The latter which specifically mentions manger clearly states its utility and value during that unprecedented affair. Mary, Jesus’ mother, “laid him” in it because “there was no room in the inn.” Various translations agree with this narration. Consider King James: “And she brought forth her firstborn son, and wrapped him in swaddling clothes, and laid him in a manger, because there was no room for them in the inn.” Then, New American Standard: “And she gave birth to her firstborn son, and she wrapped him in cloths, and laid Him in a manger, because there was no room for them in the inn.” Also, New International Version: “and she gave birth to her firstborn, a son. She wrapped him in cloths and placed him in a manger, because there was no room for them in the inn.” Amplified, too: “And she gave birth to her Son, her Firstborn; and she wrapped Him in swaddling cloths and laid Him in a manger, because there was no room or place for them in the inn.” Jesus’ actual delivery spot could well be in the vicinity of the manger, probably within the stable. But does that really matter? The artistic representations of that era notably through paintings and sculptures, especially beginning from the 4th Century, have contributed immensely to the moulding of people’s opinions and understanding of the events in the Scriptures. Manger, derived from the Latin word, ‘manducare’, literally means ‘to eat’. It’s a trough often located in corrals, caves and stables which host animals that are reared. It mainly serves as a fodder container, thereby ensuring a continual supply of food to them. Damn the manicured aesthetics of the depictions of the manger scene found in the relevant arts. The actual view is not in the least flattering. It’s smelly, nauseating, unhealthy and most unsettling, arguably among the lowliest

places on the planet. For a location of that description to be chosen to announce the arrival of God’s son, more adoringly called the only begotten son of the father, is truly sobering. That makes the symbolisms even more unignorable. Jesus’ parents were, no doubt, in a tight situation. No access to any comfortable, liveable lodge. A desperate case that portrayed helplessness, hopelessness, vulnerability and embarrassment rolled into one capsule. And swallowing that cranky combo wasn’t easy for the couple. Picture today’s husband in such a ridiculous condition – not able to provide for his spouse in a life-threatening need. Or a pregnant woman about to deliver in an unsavoury, unwholesome setting with a beleaguered expectant father presiding. The discomfitures alone… But the holy family was destined to witnessfirst-handpartofthedivinewisdom that endorsed, designed and executed the archetypal humble beginnings to celestial elevation progression of the one also called the son of man. This dear son that God sent from heaven to the world should at least have arrived in a more respectable environment. That is if the project of his coming was left to humans to plan. Divinity, hardly on the same plane with humanity, thought differently and surprisingly, however. Read God’s mind: “Place my beloved son right where animals secure their feeding. This bread of life will be available to whoever wants him under any circumstance. Humility is the cardinal factor that will eventually exalt his name in all the spheres of existence and throughout eternity, so, he must also be seen to earn the elevation. There is no better way for human beings to learn the standout virtue and benefits of meekness than having this guest from above show the way in practical terms.”

This is one character of the almighty I personally find both confusing and intriguing. Monotheistic religions agree that all visible and invisible things were created by him. Meaning, he is the only one who has what it takes to be proud. That is, he ought to step up and wear ego, pride and arrogance like medals. Who would begrudge him those deserved ornaments, anyway? As the undisputed maker and possessor of the seen and unseen, he exclusively owns every manufacturer’s stamp, copyright and patency imaginable and otherwise. Yet, he exhibits lowliness deliberately and effortlessly. What kind of God is this? Conversely, it’s hard to see mankind tow that path. In Nigeria, for example, having a father who is a local government councillor alone can do something to your posturing. And the higher his profile is, the more problematic it could be for the way you conduct yourself in the society. Not only here, though. People everywhere are entangled in various manifestations of self-adoration, sometimes under the guise of harmless terms like self-esteem and self-discovery. There’s indeed a thin line between asserting oneself and yielding to the temptation of seeing others as less endowed and undeserving which is regularly crossed in the pursuit of happiness and vanity. Remarkably, Mary’s dear son wasn’t given that self-sabotaging luxury option. Not even with the flattering prophecies that preceded his phenomenal advent. Isaiah had rolled out his exceptional resume: wonderful counsellor, mighty God, everlasting father, prince of peace! Only for him to make his debut in the midst of stinking animals and an atmosphere not even befitting of the most deprived person at the time. Considering the choice of the manger, Jesus surely didn’t seem like the remedy for the darkness which had enveloped everywhere. But, thankfully, he eventually proved to be that. And much more. Jesus’ despicable earthly appearance notwithstanding, he went on to demonstrate his own “grain of corn” imagery through unmatched, unforgettable words and actions. As he once put it, grains must first die before attaining maturity and optimal fruition. Individuals, groups and entities would do well to imbibe that enduring principle. Never underrate the power of small, undesirable beginnings. Dr Ekpe is a member of THISDAY Editorial Board

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THURSDAY DECEMBER 25, 2025

Recent coups in the subregion reflect a collapse of public trust in democratic systems, argue CHUKWUEMEKA B. EZE AND JEGGAN GRAY JOHNSON

WEST AFRICA AND CRISIS OF DEMOCRACY

West Africa stands today at a troubling crossroads where democratic aspirations collide with deep geopolitical tensions, failing institutions, and a new wave of military interventions- raising legitimate questions of the region’s democratic trajectory 50 years after its formation. Have we plateaued or plummeted into the age of the erosion of established normative procedures and democratic institutions, or is the regional experiment in a stage of reflection of deeper, ongoing challenges? Are citizens confronting systems that they perceive as imperial impositions and using whatever means available to them to resist? Or are they facing a crisis of democracy itself, a legitimacy crisis stemming from civil rule that often masks authoritarian tendencies? Why are military coups predominantly re-emerging in Francophone countries? Is this a coincidence, or does it reveal unresolved histories of external influence, entrenched political economies or distinctive patterns of state–society relations in these contexts? In whose name and under whose mandate do political elites continue to hold power? Why are we so quick to dismiss the military as being outside of the political system when, in fact, it is an institution shaped by the same social, economic and political dynamics as the rest of society? To what extent does our discourse artificially separate civilians from soldiers, rather than examining the broader governance ecosystem that produces both? Citizens increasingly find themselves trapped between three unappealing forces—the entrenched culture of ‘electoral despotism’, external imperial influence and internal military domination. The trilateral dilemma has produced a disturbing condition: a choiceless choice, where none of the options seem incapable of delivering stability, dignity, peace and security or even genuine sovereignty. The Long Shadow of Imperialism: More than six decades after independence, imperial legacies remain deeply embedded in West Africa’s political and economic structures. Former colonial powers continue to exert influence through aid conditionalities, control of extractive industries, military cooperation agreements, and political alliances that safeguard their strategic interests. In countries like Mali, Niger, Burkina Faso and Benin, resentment toward external interference; particularly from France has grown into a widespread political sentiment. Economic dependence, currency constraints (such as the CFA franc), and foreign troops stationed on African soil reinforce the perception that the region’s sovereignty remains compromised. This has created fertile ground for anti-imperialist rhetoric, often championed by populist actors and military juntas who exploit these grievances to gain legitimacy. The Return of Soldiers to Politics: The last decade has seen a resurgence of military takeovers in the region. Coups in Mali, Guinea, Burkina Faso, Niger, representing a largest coup belt in the world,

and recently attempted interventions in Benin- a socio-political enigma and Guinea Bissau - the region’s narco-state, reflect a collapse of public trust in democratic systems perceived as kleptocratic, ineffective, and elite-controlled. Many West Africans, frustrated by insecurity, poverty, and government failure, initially welcomed soldiers as “corrective forces.” But military rule often replaces one form of authoritarianism with another and characterised by restricted freedoms, politicized security apparatus, uncertain transition timelines, limited economic vision and opportunity, heavy reliance on foreign military partners (Russia, Turkey, Gulf states) and debt, overshadowed by a youth bulge threatening to burst at the seams. Thus, the promise of liberation from imperialism frequently gives way to new dependencies and domestic authoritarianism, and ultimately, policy incoherence, confusion and instability. The Choiceless Choice: The tragedy is that citizens are forced to choose between very difficult and perhaps inferior alternatives: Imperialism, which undermines sovereignty and reinforces structural inequalities, the electoral despotism - where power remains concentrated within a cabal or small host of elites, and military rule, which suspends constitutional order and democratic rights. All option addresses the core issues driving instability: weak governance, unemployment, fractured national identities, extremist threats, and the absence of economic diversification. In this vacuum, West Africans face a situation where every available choice feels imposed, not freely made. The Geopolitical Chessboard: Part of the crisis stems from the region’s growing importance in global geopolitics. West Africa has become a stage for competition among major powers: France and the EU seek to preserve influence, the United States prioritizes counterterrorism, Russia positions itself as an anti-West alternative, China expands via infrastructure loans, and the eventual confiscation of strategic minerals anchored in the blue and green economies, Gulf states and Turkey enter with economic and military interests and the list continues to expand. These competing agendas pull governments in different directions, leaving citizens with little say over the region’s strategic direction.

Eze is the Director for Democratic Futures in Africa and Johnson, Advocacy Advisor at the Open Society Foundations

It is restoring hope, life, and dignity to injured workers, writes EMMANUEL ULAYI

NSITF’S REHABILITATION PROGRAMME Forty-year old Taiwo Adebola bade his young family goodbye as he left for work on a Tuesday morning in June 2024. His wife, Shade, reminded him to send her the two thousand Naira needed to process her online registration for employment with a government agency. However, the call she received next destabilized all plans. Her husband laid in the hospital bed, severely injured in a road accident just a few metres to his office. She borrowed money from a neighbour, made arrangements for a neighbour to help pick her toddlers from kindergarten and rushed to the hospital. Thus began a harrowing experience. For the next six months, she juggled between home, school, and the hospital. She missed the deadline for the online application she had planned on making and missed two more job interviews. Taiwo operated the paper-cutting machine at a small printing outfit. But with the loss of his left hand, he could no longer carry on his duty after he was discharged from hospital. With the wife unemployed and two children to care for, he turned to friends and family for help since what little investment he had vanished in the course of treatment. With time, it was proving increasingly difficult getting any bailout from them. Then came hope! Hassan, Taiwo's boss recollected he had grudgingly registered his company into the Employees' Compensation Scheme (ECS) run by the Nigeria Social Insurance Trust Fund (NSITF) only to fulfill requirements for getting grade "C" printing contracts from government offices. He wasn't fully aware of the full benefits of the Scheme until an NSITF employee, learning of Taiwo's situation, enlightened Hassan about them. After he was assisted to file for claims, the Fund reimbursed Taiwo N4 million for his medical expenses, compensated the company for loss of productivity, and paid a lump sum of N1.650m to Taiwo's as salary backlog. The Managing Director and Chief Executive of the NSITF, Barrister Olúwaṣeun Faleye, while presenting the cheques to Taiwo, stated that Fund "will continue to pay Taiwo 80% of his monthly salary until he attains the age of fifty five." Taiwo is just one of the roughly 2.4 million workers globally who suffer workrelated accidents per annum according to International Labour Organization’s (ILO) data. NSITF did not leave it there, since his disability took away aptness to perform on the job he was doing prior to his accident, the Fund gave him another way to make a living. Having received training as an auto diagnostic technician, Taiwo is optimistic about the future. "I now have a means of earning income. Modern cars often require computer diagnosis and most mechanics neither have the know-how nor the equipment to perform this. NSITF has given me both knowledge and equipment.

The future is bright." The Employees' Compensation Act (ECA 2010) established the ECS to provide just and adequate compensation for Nigerian workers who suffer: workplace injuries, occupational diseases, disabilities (temporary or permanent), or death arising out of the course of work. Due to the efforts of the Oluwaseun Faleye-led Management team, Nigerians are now becoming increasingly aware of the Employees' Compensation Scheme. However, not many are aware of the comprehensive rehabilitation programme as it was just onboarded mid 2025 by the new Management Team after almost one decade and a half of operating the ECA. Work-related accidents, injuries, and diseases often leave the victim unable to continue working in their previous line. Compensations and medical treatment have their limits. The goal of the rehabilitation programme is the restoration of productivity of workers who lost their ability to continue their work consequent upon work-related accidents, injuries, and diseases. Mrs. Nkiru Ede-Ogunnaike, General Manager Claims and Compensation at the NSITF shed light on the operationalization of the rehabilitation programme. According to her "Section 1(b) of the ECA 2010 mandates the Fund to provide rehabilitation to employees with work-related disabilities while Section 16(1) states that the Board may provide vocational rehabilitation, to get an injured employee back to work." Continuing, she explained that "The vocational rehabilitation programme is structured into three phases: orientation; vocational training, as well as empowerment and startup." "The phase one focuses on mindset reawakening, entrepreneurship, and psychological support, phase two provides practical hands-on training in a chosen vocation or skill while the third equips the beneficiary with start-up kits and empowerment for self-reliance." Ogunnaike listed some skills currently available under the rehabilitation programme to include: ICT and computer literacy, tailoring and fashion design, electrical works, safety and health compliance, and auto-mechanics diagnostics. Dr Ulayi is a Principal Manager at NSITF

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T H I S D AY

THURSDAY DECEMBER 25, 2025

EDITORIAL

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

THE REAL ESSENCE OF CHRISTMAS It’s time to show love, forgive, and share

country today, the plight of the under-privileged is s we mark another Christmas tosteadily worsening and many go to bed with less day, Christians are expected to than a survival diet. The unemployment crisis has spare time to contemplate on created a lost generation of graduates who cannot things eternal. In specific terms, find jobs. Many of them are exasperated. Public this season is a reminder of that officials at all levels should therefore pay serious historical event which took place attention to the challenge of those who cannot celmore than 2000 years ago, when Christ was born ebrate this season because they have no means to in the relatively humble town of Bethlehem of Judo so. The privileged of our society must consider dea. That birth, as well as the mission of salvation the fact there are many for whom this season is connected with it, was at once a promise of rejust another reminder of their woes. demption from spiritual death, a declaration of an If Jesus Christ came to serve and not to be end to the reign of darkness, and a call to mankind served, our leaders should learn to bring light to to embrace the light of God. That is what makes the dark land; hope to the hopeless; justice to the this season special. oppressed and integrity to the wasteland. And for President Bola Tinubu in his goodwill message the rest of us, Christmastime endescribed Christmas as a seajoins caring for our neighbours and son for reflection on the birth underlines the importance of the of Jesus Christ and his mesThere is no better time than now to eschew hatred, family institution. It affords wives, sage of peace, love and hope. husbands, and children the oppor“With confidence in divine rancour, greed, and avarice while building an ethic of tunity of reuniting and sharing providence and our collective warmth and love. This is therefore human solidarity aimed at promoting the common good strength, we will continue the the time to share thoughtful wishwork of building a greater Nies and meaningful messages while geria, one that future generaT H I S D AY spreading happiness that strengthen bonds and retions will be proud of,” the president added. EDITOR SHAKA MOMODU mind loved ones of the true spirit of the season. DEPUTY EDITOR WALE OLALEYE However, beyond the decoration of streets and MANAGING DIRECTOR ENIOLA BELLO And whether you are sending greetings to family, houses, exchange of gifts and singing of carols, DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU friends, colleagues, or sharing them on social methis Christmas is a good time for those in authorCHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI dia, the right words can make this festive moment ities in the country to begin finding lasting soluEDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN even more special. THE OMBUDSMAN KAYODE KOMOLAFE tions to the existential challenges that seem to The spirit behind Christmas is that of giving and overwhelm us. It is also important for men and sharing. But Christmas comes true for us if we women of goodwill to begin building bridges of seek to follow the path of love, sacrifice and fortolerance and understanding across the troubled giveness exemplified by Jesus Christ. Therefore, T H I S D AY N E W S PA P E R S L I M I T E D waters of religious and political differences. There EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA the message of Christmas is simple: Times indeed is no better time than now to eschew hatred, ranGROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, may be tough, but our optimism must remain high cour, greed, and avarice while building an ethic of ISRAEL IWEGBU that no matter the circumstances we face either as DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, human solidarity aimed at promoting the common individuals or as a nation, all will be well. That is ANTHONY OGEDENGBE good. DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI the promise that this season offers. May this seaIt is particularly noteworthy that the celebration SNR. ASSOCIATE DIRECTOR ERIC OJEH son bring a new freshness, a new hope and a new of Christmas has acquired a special tone this year ASSOCIATE DIRECTOR PATRICK EIMIUHI strength today and through the coming year 2026. CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI owing to the socio-economic challenges the nation DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO Merry Christmas to all our readers! is going through, and the impact on citizens. In our TO SEND EMAIL: first name.surname@thisdaylive.com

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LETTERS DETTY DECEMBER AND THE SOUL OF A NATION

As the curtains draw on 2025, the human spirit instinctively searches for relief. After a turbulent year marked by economic strain, insecurity, displacement, and emotional exhaustion, men and women long to breathe again. The air of December carries that longing. Lights flicker, music spills into the streets, calendars thin out, and hearts lean toward celebration. Survival itself feels like an achievement, and for many, the response is to seek pleasure—loud, colourful, intoxicating pleasure. Across Nigeria, this season has acquired a name and a rhythm of its own: Detty December. Cities throb with carnivals, concerts, clubs, street festivals, and parties that last till dawn. Shopkeepers of every faith look forward to Christmas because it promises profit. Millions of naira— and dollars—are poured into clothes, decorations, cards, travel, and gifts. Alcohol sales surge. Villages organize days of feasting, games, and gift-giving. Offices slow down or shut their doors entirely. Appointments are postponed, official engagements suspended, businesses paused, all in the

name of commemoration. Yet beneath the thrill and glamour lies a sobering question: what kind of pleasure are we truly pursuing? Much of the pleasure on offer at year’s end is fleeting. It dazzles the senses but leaves the soul bruised. It promises escape but often delivers illusion. These pleasures—lustful, excessive, destructive—are not God-given joys that endure; they are substitutes that wound quietly. They numb pain for a moment, then return it with interest. In the silence after the music fades, many are left emptier than before, wondering why satisfaction proved so elusive. The pursuit of happiness through pleasure alone is a kind of modern alchemy—trying to turn noise into meaning, indulgence into fulfilment. But happiness is not found only in being loved, admired, or celebrated. It is also found—perhaps more deeply—in having someone to love. Joy does not merely arise from what we consume; it grows from what we give. As we end 2025, the contrast is stark. While some dance

through December nights, millions struggle to survive them. The less privileged, the disadvantaged, the internally displaced, the refugees beyond Nigeria’s borders—these are not abstractions. They are mothers choosing between food and medicine, children learning to sleep with hunger, families displaced by violence, flood, or poverty. Their December has no glamour. Their year-end has no pause button. It is here that the true meaning of the season confronts us. Beyond the gatherings, the food, the music, and the fellowship, Christmas is about Christ—who He is and why He came. He came not to amplify excess, but to heal brokenness; not to glorify indulgence, but to restore dignity; not to distract us from pain, but to redeem it through love. The manger itself is a rebuke to shallow pleasure and a call to sacrificial compassion. Obiotika Wilfred Toochukwu Living Grace Restoration Assembly Inc., Nkono-Ekwulobia, Anambra State

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

SOStainabilityWeekly

THURSDAY, DECEMBER 25, 2025 • THISDAY

Edited by Oke Epia | e-mail: sostainability01@gmail.com | Whatsapp: +234 8034000706

Spotlight

SOStainability partners UK university on renewable energy tech S OStainability has secured support from the University of Staffordshire, United Kingdom, to develop a comprehensive digital dashboard for renewable energy adoption and net-zero progression for businesses, charities, and public entities. The support is part of the Advanced and Digital Technologies Innovation Accelerator (ADTIA) programme at the university, which is funded by the Newcastle-under-Lyme Borough Council through the UK Shared Prosperity Fund (UKSPF). The dashboard is being developed as a comprehensive, multi-purpose platform focused on renewable energy opportunities and net-zero pathways. It will showcase a diverse range of solutions on offer, including ventilation, lighting, heating, refrigeration, compression, and renewable energy technology such as solar, wind, battery storage, and electric vehicle (EV) chargers, among others. The focus of the technology is to help businesses, households, and other entities easily take advantage of listed opportunities, which range from public sector grants, soft loans, industry facilitations, and private sector-driven incentives, including discounts, power purchase agreements, and other support systems that lead to the adoption of renewable energy practices. Beyond the offers, the application will essentially facilitate and sustain connections between service providers and renewable energy users, supporting beneficiaries in determining, measuring, recording progress, and achieving their net-zero targets.

Left to Right: Jordan Everall, Oke Epia, Tomiwa Oluwadare, Justin Pover, and Masum Billah (virtual participation) during a review of the project implementation recently. Speaking on the initiative, Oke Epia, Chief Executive of SOStainability, said the dashboard is an important tool to help businesses, charities, communities, and even households plan and implement their decarbonisation and

energy-efficiency goals in a structured, standardized, and sustained manner through the use of technology. He said: “The development of this application is a very significant step for us. As we make progress in

the development of this innovative technology, we look forward to the immense possibilities this application brings, particularly for enhancing energy efficiency and reducing costs in homes and businesses.

Trends and Threads

Forestland: Why Nigeria’s trees are more than just green backdrops

or many Nigerians, the word “forest” might bring to mind vague images of shaded woodlands far from city life—places that seem distant from the daily concerns of households, markets, classrooms, and towns. Some think of forests simply as sources of wood for building or fuel. But this limited view misses a deeper truth: forests are living, dynamic systems that intersect with every part of life in Nigeria; people, climate, economy, culture, and future opportunity. Forests are nature’s long-term investment in our climate stability. They absorb carbon released by cars, factories, and farms and store it in wood, leaves, and soil. This invisible work quietly cools the Earth and slows the pace of climate change. Forests also hold water in their roots, stabilize soils, nurture biodiversity, and provide food, medicine, and materials that millions of Nigerians depend on daily. When forests shrink, the consequences ripple out: rainfall patterns shift, droughts and floods intensify, rural incomes suffer, and the nation’s ability to meet its climate goals weakens. Yet despite these essential roles, Nigeria’s forests are under severe strain, and that should matter not just to environmentalists but to every citizen who cares about food security, jobs, health, and the future of the country. A crisis hidden in plain sight: The rapid loss of forests Nigeria’s forests have been diminishing at a pace that would be alarming in any context.

mining, and sprawl from expanding cities, steadily chips away at remaining forests. Weak monitoring, limited enforcement of forestry laws, and competing land-use pressures only accelerate these trends. This rapid disappearance has real costs. Beyond losing trees, Nigeria loses the climate benefits they provide, the habitats of countless plant and animal species, and the livelihoods tied to healthy forests.

•Balarabe Abbas, Minister of environment

•Omotenioye Majekodunmi, DG of NCCCenvironment

Official statements and environmental assessments show that more than 90 percent of the country’s original forest cover has been depleted, with over 400,000 hectares lost every year to logging, agricultural expansion, fuelwood dependence, mining, and rapid urban growth. Vice President Kashim Shettima recently described this not only as an environmental crisis but as an “economic emergency.” According to the Food and Agriculture Organization (FAO), Nigeria’s forest area has fallen drastically over the past decades, now standing at less than 10

million hectares, a fraction of what once existed. This decline is not just about trees; it represents a massive release of stored carbon into the atmosphere, worsening climate change. Every hectare of forest cleared releases carbon that has been stored for decades. Once gone, it takes generations to rebuild that storage capacity. What drives this loss? In rural and peri-urban communities, wood is still the primary source of cooking fuel for many families. Small-scale clearing for farms, combined with legal and illegal logging,

Forests as carbon sinks: Nature-based climate solutions in our hands When a tree grows, it pulls carbon dioxide (a greenhouse gas) from the atmosphere and stores it in its wood and roots. This “carbon sink” role is one of the most powerful natural mechanisms for slowing climate change, meaning it reduces the amount of heat-trapping gases in the atmosphere. Nigeria’s forests collectively hold over half a billion metric tons of irrecoverable carbon, especially in rich ecosystems like the mangroves of the Niger Delta. These coastal forests rank among the most significant carbon reservoirs in Africa. Protecting forests keeps this carbon locked away rather than releasing it back into the atmosphere, where it would accelerate warming. In economic terms, this is an invisible service with immense value, one that the emerging carbon market framework in Nigeria aims to recognize and reward.

The story continues online on www.thisdaylive.com

THISDAY • THURSDAY, DECEMBER 25, 2025

SOStainabilityWeekly

Edited by Oke Epia | e-mail: sostainability01@gmail.com | Whatsapp: +234 8034000706

Washing and hushing

Nigeria’s agrochemical sector is lagging in sustainability

igeria’s agrochemical sector plays a pivotal role in the country’s agricultural transformation, directly impacting food security, rural livelihoods, and economic growth. Yet, despite its centrality to the nation’s agricultural development agenda, the sector remains largely invisible in the conversation on sustainability. While the global agrochemical market is under increasing scrutiny due to its environmental and social footprint, Nigeria’s agrochemical companies continue to operate with minimal transparency regarding their sustainability efforts. The country’s Nationally Determined Contributions (NDCs) highlight the importance of agricultural sustainability in addressing climate change; yet the sector’s response to these goals remains unclear. As the agrochemical industry expands in line with growing agricultural demands, it is essential that these companies begin to align with evolving global standards for environmental stewardship. But a look at the online presence of these companies shows a baffling silence. There are no clear sustainability policies, no comprehensive reporting, and no measurable targets. In this edition of SOStainability Weekly, we turn our focus to the agrochemical companies operating in Nigeria. We are not examining the broader agricultural landscape or the regulatory frameworks; the question is more pointed: With increasing global and local pressure for sustainability, why are Nigerian agrochemical companies still largely absent from the conversation on environmental responsibility? The visibility gap: Why it matters We applied the Sustainability Visibility Scan (SVS) framework to evaluate corporate transparency based on sustainability policies, reporting, targets, and governance, providing a powerful lens for understanding the current state of the agrochemical industry in Nigeria. What is immediately apparent from the findings is a disturbing lack of transparency in key companies within the sector. This absence of visible sustainability initiatives not only hinders accountability but also damages the sector’s reputation as stakeholders become increasingly concerned about environmental and social governance. Globally, industries are being held to higher standards of transparency and responsibility, as evidenced by the growing demand for sustainability reporting across sectors. In the context of agrochemicals, a sector closely linked to environmental impacts like soil health, water contamination, and biodiversity loss, the absence of clear commitments and visible efforts is a strategic blind spot. Companies in Nigeria’s agrochemical sector, however, remain largely silent on their sustainability journey, despite the current trend in global standards and the regulatory environment.

•Aliko Dangote, Chairman of Dangote Industries

• Femi Agbaje, Chairman of Notore Fertilisers

Key findings of the sustainability scan Our analysis, based on the Sustainability Visibility Scan (SVS), focused on several leading Nigerian agrochemical companies, including Dangote Fertilizers, Golden Agri Inputs, and Notore Chemical Industries. The results revealed a gaping lack of visibility in sustainability efforts across the board. Take, for example, Dangote Fertilizers, which scored 3 out of 12 on the SVS. While the company provides broad statements on its commitment to social responsibility and enhancing agricultural productivity, it lacks a dedicated sustainability policy. The sustainability content on their website is vague, lacking in measurable targets or detailed reporting. This absence of clear, actionable policies means that despite Dangote’s significant presence in Nigeria’s fertilizer market, it remains largely unaccountable in terms of sustainability impact. Golden Agri Inputs Limited (GAIL) scored 0/12, as they have no visible

sustainability policies, reports, or measurable targets. Similarly, OCP Africa Nigeria and Hamdala Fertilizer also received 0/12 ratings, underlining the sector-wide challenge of transparency in sustainability practices. These companies do not present any governance structures related to sustainability, nor do they disclose any specific climate goals or environmental impacts on their websites. Notably, Notore Chemical Industries performed slightly better, with a score of 5/12, thanks to its Environmental Policy. However, this policy, which was discovered through a Google search rather than being clearly accessible on their website, still falls short in providing measurable targets or detailed governance structures, highlighting a structural issue in visibility and public engagement on sustainability. The business case for sustainability visibility The findings underscore a critical issue: the lack of sustainability visibility

within Nigeria’s agrochemical sector is not merely a regulatory concern; it’s a strategic risk. As the world pivots toward sustainability, companies that fail to make their commitments visible risk being left behind, both in terms of competitiveness and reputational standing. Sustainability visibility offers tangible strategic advantages for companies. First, it helps build trust with stakeholders, from investors to regulators. Transparency in sustainability policies and reporting signals that a company is not only compliant with local regulations but also aligned with global standards. This is increasingly important as investors, particularly those focused on Environmental, Social, and Governance (ESG) criteria, are paying more attention to sustainability efforts when making investment decisions. Furthermore, financial institutions and insurance companies are increasingly linking sustainability reporting to risk assessment. Companies that lack visible sustainability practices may find themselves at a disadvantage when seeking financing or negotiating long-term contracts. On the other hand, those that proactively demonstrate their commitment to sustainable practices position themselves as leaders in the industry, gaining access to better funding terms and strategic partnerships. Finally, in a world where consumer preferences are shifting toward sustainable products, companies with visible sustainability policies have a clear market advantage. The public is becoming more discerning, choosing brands that align with their values. Agrochemical companies that fail to disclose their environmental impacts or commit to sustainability risk losing out on market share. A call for action The Sustainability Visibility Scan (SVS) reveals a sector in desperate need of transformation. For Nigeria’s agrochemical companies to thrive in a world that increasingly values transparency, sustainability visibility must be a top priority. These companies must take the first step by publishing clear sustainability policies, setting measurable targets, and establishing governance structures dedicated to sustainability. By doing so, they not only align with the regulatory landscape, which is evolving rapidly in line with global sustainability goals, but they also position themselves as leaders in the industry. The shift from being silent participants to active leaders in sustainability will not only improve their competitiveness but also ensure they are part of the solution to the pressing environmental challenges of today. As the Nigerian agrochemical sector continues to expand, embracing sustainability visibility is not just a strategic choice; it is an imperative. It is time for these companies to take ownership of their role in the sustainability conversation and to demonstrate their commitment through actionable policies, clear reporting, and measurable targets. The road to sustainability is not an easy one, but it is a necessary one. Agrochemical companies in Nigeria that lead the way in transparency will be the ones that reap the rewards in terms of investment, regulatory compliance, and reputation, and shape the future of sustainable agriculture for the country.

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

T H I S D AY • ThURSDAy, DECEmbER 25, 2025

BUSINESSWORLD R A T E S MONEY MARKET

A S

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REPO

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%

N1,475 / 1 US DOLLAR*

OVERNIGHT

25.18%

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21.37%

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0.10%

YEAR TO DATE

-10.99%

*AS AT WED., DECEmbER 24, 2025

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22.41%

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0.24%

MTN, Globacom Gained Highest Subscriber Acceptability in Mobile Number Porting in October

Stories Emma Okonji The latest statistics on Mobile Number Portability (MNP) released by the Nigerian Communications Commission (NCC), showed that MTN and Globacom gained the highest subscriber acceptance in the month of October 2025. According to the statistics, which THISDAY obtained from the official website of NCC, MTN had the highest number of subscribers from across all networks that ported into its network. On the other hand, Globacom maintained the least number of subscribers that ported out of their

original network, in search of better network, an indication that majority of Globacom subscribers believed strongly in the resilience of the Globacom network, hence their decision to remain on the network without porting out. While MTN recorded 937 incoming subscribers, which was the highest across networks in October 2025, Globacom recorded only 193 outgoing subscribers, which was the least across networks in October 2025, according to the latest statistics released by NCC. Incoming porting is described as the transfer of mobile telephone number into

Nigeria recorded continued growth in the adoption of the .ng domain name in November 2025, reflecting sustained interest in Nigeria’s country code Top-Level Domain (ccTLD) across various sectors of the digital economy, a recent report released by the Nigerian Internet Registration Association (NiRA) has revealed. According to the report, a total of 17,385 .ng domain activities were recorded during the

month, comprising new registrations and renewals. The performance underscores the steady expansion of the .ng namespace and its increasing relevance as a trusted digital identity for Nigerian individuals and organisations. The ccTLD .ng domain name is Nigeria’s identity in cyberspace, which has the .ng at the suffix of every official email address that originates from Nigeria. In the United Kingdom, all official email addresses end with .co.uk.

a particular network in search of better service quality, on the request of the subscriber, while still maintaining the original telephone number on the new network. Outgoing porting is described as the transfer of mobile telephone number out of a particular network in search of better service quality, on the request of the subscriber, while still maintaining the original telephone number on the new network. From the statistics, MTN and Globacom have maintained lead positions in Mobile Number Portability since January 2025 for

incoming and outgoing porting respectively. For incoming porting MTN recorded 3,960 subscribers that ported into its network in April 2025, followed by Airtel with 1,860 subscribers, Globacom with 966 subscribers and T2 with only three subscribers, bringing the total number of subscribers that ported in April to 6,789. In May 2025, MTN recorded 2,850 subscribers that ported into its network, followed by Airtel with 1,494 subscribers, Globacom with 588 subscribers and T2 with only four subscribers, bringing the total number of subscribers that ported

in May to 4,936. In June 2025, MTN recorded 2,445 subscribers that ported into its network, followed by Airtel with 1,158 subscribers, Globacom with 502 subscribers and T2 with only four subscribers, bringing the total number of subscribers that ported in June to 4,109. In July 2025, MTN recorded 573 subscribers that ported into its network, followed by Globacom with 176 subscribers, Airtel with 148 subscribers and T2 with only five subscribers, bringing the total number of subscribers that ported in July to 902. In August 2025, MTN

had 1,150 subscribers that ported into its network, followed by Airtel with 593 subscribers, Globacom with 478 subscribers and T2 with only 15 subscribers, bringing the total number of subscribers that ported in August to 2,236. In September 2025, Airtel had 466 subscribers that ported into its network, followed by MTN with 438 subscribers, Globacom with 331 subscribers and T2 with only 20 subscribers, bringing the total number of subscribers that ported in September to 1,255. The story continues online on www.thisdaylive.com

Report: Nigeria’s .ng Domain Name Growth Surged in November to Reach 17,385 In United States of America, they end with .com, while in South Africa, the official email addresses end with .co.za. Analysis of the report showed that new registrations accounted for 11,808 domains in November. The 3rd-level domains recorded the highest volume with 10,215 registrations, maintaining their position as the most widely adopted option within the .ng ecosystem. The 2nd-level domains recorded 1,595 registrations, demonstrating

growing interest in premium and direct .ng domain names. Renewal activity remained strong, with 5,577 domains renewed during the reporting period. This included 3,725 renewals at the 3rd level and 1,852 renewals at the 2nd level. The consistent renewal figures reflect continued confidence in the stability, reliability, and value of the .ng domain space. Giving details of the report, NiRA’s President, Mr. Adesola Akinsanya, said: “The November performance reinforces the growth trajectory

of the .ng domain. The balance between new registrations and renewals highlights both expanding adoption and strong retention among existing registrants. As NIRA continues its initiatives to promote awareness, improve service delivery, and support registrars, the .ng domain remains well positioned to support Nigeria’s evolving digital landscape.” In his December message to the internet community in Nigeria, Akinsanya said: “The month of December

also marked a significant moment in our national digital journey. NiRA, represented by our COO, Mrs. Oluwaseyi Onasanya, participated in the Senate Public Hearing on the Draft Digital Economy and E-Governance Bill. Our memorandum highlighted critical areas where Nigeria’s digital identity, powered by the .ng domain, must be central to governance, e-services, cybersecurity, and transparency.” The story continues online on www.thisdaylive.com

M a r k e t d ata a s at t u 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

15.90

16.88

CPS

Change (%) Updated Time

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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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20.37

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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

ThURSDAy, DECEmBER 25, 2025 • T H I S D AY

BUSINESSWORLD

NEWS L-R: Manager, Nigeria Truck Manufacturers, Mr. Sohail; Chief Executive Officer, APM Terminals Nigeria, Frederik Klinke; Kumbutso LGA Chairman, Sulaiman Dauda Abdullahi; Deputy Comptroller of Customs, Kano/Jigawa Command, S.S. Shehu; ANLCA Chairman Kano Chapter, Alhaji Rilwan; Commercial Manager, APM Terminals Apapa, Kayode Olufemi Daniels and HSE Business Partner Europe and Africa, APM Terminals, Andreas Maria van der Wurff, at APM Terminals Kano 10th anniversary celebration… recently.

EiE: Tax Reforms Must Be Anchored on Trust, Transparency

Stories by Emma Okonji

Enough is Enough (EiE) Nigeria has called on the federal government to pause the implementation of Nigeria’s newly enacted tax reform laws, scheduled to commence on January 1, 2026, until critical governance, transparency, and public trust concerns are addressed. According EiE Nigeria, Public trust in Nigeria’s tax system remains fragile, shaped by long-standing concerns about transparency, accountability, and the use of public funds. Deputy Executive Director, Programs, EiE) Nigeria, Ufuoma Nnamdi-Udeh, said: “Proceeding with implementation without resolving these issues risks delegitimising the reforms at inception, weakening

voluntary compliance, increasing public resistance and litigation, and further eroding confidence in public institutions. “Tax reform cannot succeed on speed and enforcement alone. Without transparency, legal certainty, and public understanding, these reforms risk failing at inception by eroding the trust that compliance depends on. “Accordingly, the organisation has outlined the following governance safeguards as preconditions for implementation: The exact versions of the tax bills passed by the National Assembly and assented to by the President must be made publicly available. Where discrepancies exist between passed bills and gazetted Acts, these must be fully disclosed and lawfully corrected. It

Simba TVS Partners Credicorp to Empower 10,000 Women 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.

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

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. Speaking on the Programme, Simba TVS management emphasised that the company intentionally prioritises women due to their critical role as drivers of economic growth. “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.”

also outlined that an in independent investigation should be conducted to establish responsibility for

any unlawful alterations to the tax laws after legislative passage, and safeguards should be put in place to

prevent recurrence; and that the MoU between FIRS and the French Government should be proactively

disclosed to the public, in line with transparency and data protection best practices, among others.”

Sunday Ehigiator

Retail chain, Joydon Nigeria Limited, has announced plans to expand its supermarket and retail outlets across Lagos State in 2026 as part of an ambitious growth strategy aimed

at bringing its services closer to customers and strengthening its market presence. Managing Director of the company, Ayeni John, disclosed this during an interview with THISDAY on the sidelines of Joydon’s

end-of-year celebration, noting that the firm recorded significant growth in 2025 despite economic headwinds. According to him, “2025 is a very good year for Joydon Supermarket and Stores because this year

we expanded in business and in staff and in financial activities. Next year, we have a lot of things for our customers and for our staff. We want to have other outlets so that our customers can see Joydon in different locations.”

Anambra State has launched its digital government services platform called SmartGov, designed to simplify how citizens access its over 31 public services anytime and anywhere. SmartGov is powered by Artificial Intelligence (AI), enabling citizens to interact

with government through natural conversations rather than complex procedures or paperwork. Describing the platform and its functionality, MD/ CEO of the Anambra State ICT Agency, Chukwuemeka Fred Agbata said SmartGov was built with citizens at the center.

“SmartGov is more than a service directory. It is an intelligent gateway that makes government interactions simple, fast, and reliable. Mr. Governor, Prof. Chukwuma Charles Soludo, has consistently emphasised technology as the backbone of governance through the Everything

Technology, Technology Everywhere vision. “SmartGov is a practical expression of this vision. By embedding AI into everyday government services, Anambra State is making governance more transparent, accessible, and efficient for Ndi Anambra,” Agbata said.

Lagacy 1995, the historical and environmental interest group, which seeks to promote Nigeria’s culture and heritage, is set to digitise Nigeria’s archive that are in its possession for posterity purpose. President of Legacy 1995, Mr. Taiye Olaniyi, who confirmed this during the 30th anniversary celebration

of Legacy in Lagos recently, said there was need to preserve Nigeria’s archive by digitising them for generations unborn. He said, “We are in the world of digitisation and technology. Through the relationship that Legacy had with the British Library and Oxford University, we really have been able to come up

with research and digitisation of parts of what they have, which already we have made the presentation to the management of the Nigerian Railway Corporation, which houses Legacy 1995. We are now in the world of Artificial Intelligence (AI) and Robotics.” Managing Director, Nigerian Railway Corporation, Dr.

Kayode Opeifa, who was represented at the anniversary celebration by the Director, Human Resources and Admin, Nigerian Railway Corporation, Dr. Monsurat Omotayo, expressed his continued interest in Nigeria’s heritage and commended Legacy 1995 for sustaining Nigeria’s history and heritage in the last 30 years.

Joydon Plans Lagos-wide Expansion in 2026 Growth Push

Anambra State Launches SmartGov to Enhance Citizens’ Experience

Lagacy Celebrates 30th Anniversary, Set to Digitise Nigeria’s Archive

ipNX Clinches Key Awards at NiTA 2025

Nigeria’s leading information and communications technology company, ipNX, has once again reinforced its leadership position in the Nigerian ICT industry by clinching two awards at the 11th edition of the Nigeria Technology Awards (NiTA). Accepting the awards on behalf of ipNX, Divisional

CEO of the ipNX Retail Division, Kene Eneh, expressed pride in the team’s accomplishments and reaffirmed ipNX’s long-term commitment to technological excellence: “We are delighted and honoured to receive these awards. They reflect our unwavering commitment

to delivering innovative, high-performance connectivity solutions that empower our customers. These recognitions energize us to continue raising the bar and delivering exceptional value as we shape the future of connectivity in Nigeria,” Eneh said. ipNX’s dominance in the Nigerian broadband

landscape was further validated in the Ookla Speedtest Connectivity Report for H2 2024, released in February 2025, where the company was ranked Best Fixed ISP in Nigeria across critical performance metrics, including fastest gaming speed, most consistent ISP, and video experience.

Akano Bags Distinguished OAU, Baptist Alumni Awards

Renowned entrepreneur, technologist, and philanthropist, Mr. Tim Akano, has been honoured with two Distinguished Alumnus Awards by Obafemi Awolowo University (OAU) and Baptist Day School, Oluponna, in recognition of his outstanding

contributions to education, mentorship, technology, innovation, and community development at large. Both awards, which were conferred recently, mark a significant milestone in Akano’s lifelong commitment to human capital development and social impact.

Akano, a 1983 graduate of Obafemi Awolowo University, was recognised by the university for his global impact in entrepreneurship, technology and innovation, as well as his sustained mentorship of students. In 2023, he awarded 1,000 scholarships that was

worth N60 million to OAU students for them to study Artificial Intelligence. Since then, he has consistently adopted five students from the Department of International Relations annually under his structured mentorship initiative.

T H I S D AY • ThURSDAy, DECEmBER 25, 2025

BUSINESSWORLD

FEATURE

Beyond Transactions: How Partnership Shaped Wema Bank’s 80-Year Journey As Wema Bank marks 80 years, the significance of this milestone lies not only in how long the Bank has existed, but in how it has grown. Beyond transactions and milestones, the bank’s 80-year journey affirms a simple truth: institutions that last are those that grow with others. Kayode Tokede writes

nstitutions do not last eight decades by merely processing transactions. They endure by building relationships that outlive market cycles, leadership changes, and economic uncertainty. In banking especially, longevity is rarely accidental; it is earned through trust, consistency, and the quiet strength of partnerships that deepen over time. As Wema Bank marks 80 years, the significance of this milestone lies not only in how long the Bank has existed, but in how it has grown. The story of Wema at 80 is, at its core, a story of partnership with entrepreneurs, creatives, communities, and institutions that have walked alongside the Bank through eras of transformation. This anniversary, therefore, is less a celebration of endurance and more a reflection on shared progress. From its founding in 1945, Wema Bank was built on a purpose that extended beyond profit: empowering Nigerians with access to finance and opportunity. Eight decades later, that purpose remains evident in how the Bank chooses its partners, structures its collaborations, and measures success. At 80, Wema Bank’s relevance is not defined by size alone, but by the depth of relationships it has sustained and the value it has created alongside those relationships. Partnership at Wema Bank has never been transactional. It is not a campaign tool or a seasonal strategy, but a way of building one that prioritises long-term outcomes over short-term wins. This philosophy explains why the Bank’s collaborations consistently go beyond logos and sponsorships to include access to finance, market linkages, capacity building, and ecosystem development. Across women-led enterprises, SMEs, creative industries, and youth development, Wema Bank has shown a pattern of staying engaged long after the spotlight fades. For partners, this consistency creates confidence: confidence that the Bank will remain present, responsive, and invested in shared success. This approach is perhaps most visible in Wema Bank’s long-standing partnership with Naija Brand Chick through the NBC Trade Fair. As part of its 80th anniversary year, the Bank reaffirmed this collaboration by returning as headline sponsor of the 2025 NBC Trade Fair, now spanning 16 states across Nigeria and extending internationally. Rooted in a shared belief that women-led businesses are central to economic growth, the partnership has delivered measurable outcomes. Through the 2024 NBC Trade Fair alone, Wema Bank supported over 4,450 SMEs, with women-owned businesses accounting for 85 per cent of participants, and

generated more than N3.5 billion in SME revenue. As the platform expands in 2025, it reinforces a defining message of Wema at 80: partnership is not static it grows in ambition, reach, and responsibility. The Bank’s partnership philosophy also reflects a clear understanding that meaningful support must be context-driven. Small businesses operate in diverse ecosystems, and effective collaboration requires meeting them where they are. This thinking underpins Wema Bank’s collaboration with Fashion Souk NG, a specialised fashion fair under The Eventful Souk brand. Through this partnership, the Bank has supported a market access platform for over 200 women-led SMEs across fashion, food, and beauty categories that are proudly made in Nigeria. Here, Wema Bank’s involvement goes beyond visibility; it enables connection to customers, collaborators, and peers within an environment designed for growth. For entrepreneurs in the creative economy, this signals alignment with their realities and ambitions, not just brand association. That same depth is evident in Wema Bank’s continued partnership with the Lagos Leather Fair, Africa’s premier leather industry showcase. As a

gold sponsor for the second time, the Bank supported leather-focused SMEs by awarding N2.5 million in grants to outstanding participants at the 2025 edition. Beyond funding, Wema Bank leveraged its Prestige by Wema proposition to facilitate access to high-net-worth individuals, increased visibility, and potential cross-border expansion opportunities. It is a reminder that the most effective partnerships strengthen entire value chains, not just individual moments. As the MD/CEO at Wema Bank, Mr. Moruf Oseni has emphasised, the Bank’s commitment to SMEs is sustained rather than symbolic. With over N300 billion disbursed in loans and grants and more than 800,000 SMEs empowered through capacity-building programmes, Wema Bank’s track record reflects depth, discipline, and long-term intent. These figures are not presented as milestones in isolation, but as evidence of continuity the kind that partners can plan around and grow with. Beyond enterprise support, Wema Bank’s partnerships extend into the future of work and national development. Through the FGN ALAT Digital Skillnovation Programme, launched in partnership with the Federal Government of Nigeria, the Bank has positioned itself as a strategic enabler of the

country’s digital economy. Now in its second cohort, the programme aims to equip 2 million youths and 1 million MSMEs with in-demand digital skills. Since its launch in 2023, over 300,000 participants across all 36 states and the Federal Capital Territory have already benefited. The programme’s transition to physical training through FGN ALAT Digital Hubs across Nigeria’s six geopolitical zones reflects a partnership model that evolves with impact in mind expanding access while deepening engagement. This same approach underpins the NYSC ALAT Accelerator Programme, delivered in partnership with Microsoft and the National Youth Service Corps. Designed to prepare young Nigerians for modern career and entrepreneurial realities, the programme offers digital skills training, mentorship, funding opportunities, and market access. For partners, it demonstrates Wema Bank’s capacity to co-create scalable solutions to unemployment and skills gaps. For participants, it provides a structured pathway from service to sustainable opportunity, reinforcing the Bank’s role as a long-term partner in personal and professional growth. The credibility of Wema Bank’s partnership strategy is further reinforced through its collaboration with the Small and Medium Enterprises Development Agency of Nigeria. Through the SMEDAN–Wema Capacity Building Programme, over 800,000 MSMEs are being equipped with essential business, technical, and digital skills, alongside mentorship, access to finance, and access to markets. As SMEDAN’s Director General, Charles Odii, has noted, the collaboration stands as a practical example of how shared purpose and determination can translate into real, measurable impact. As Wema Bank turns 80, these partnerships collectively tell a deeper story. They reveal an institution that understands trust as something built over time through presence, adaptability, and shared accountability. One that sees collaboration not as an obligation, but as a strategic advantage. In the words of Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, the Bank’s partnership-driven approach remains inseparable from its founding purpose: empowering Nigerians with access to finance and opportunity. Eight decades on, that commitment remains unchanged. Beyond transactions and beyond milestones, Wema Bank’s 80-year journey affirms a simple truth: institutions that last are those that grow with others. And as the Bank looks ahead, its message to partners is clear the journey continues, together.

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

T H I S D AY • THuRsDAY DeCeMbeR 25, 2025

business/MOneYGuiDe

Legend Internet Tightens Grip on Nigeria’s Digital Connectivity Market

to-room fibre-powered internet. The innovation sets a new benchmark Legend Internet Plc has for premium residential concluded the year with broadband and elevates significant strategic and home connectivity standards operational achievements nationwide. that underscore its On the financial front, successfully resilience, innovation drive, Legend and long-term commitment closed its Commercial to advancing digital Paper issuance with over connectivity in Nigeria. 100 percent subscription, In a major boost to reflecting strong investor its technology strategy, confidence in the company’s Legend signed a strategy and long-term landmark Memorandum growth outlook. of Understanding (MoU) To further enhance the experience, with Huawei. The customer partnership is expected Legend Internet introduced to unlock advanced Nina, the Legend AI network capabilities and Assistant, designed to reinforce Legend’s role provide faster, simpler, and as a key contributor to more convenient support. next-generation broadband Nina allows customers to infrastructure across the access instant assistance and manage their services country. The company also directly through WhatsApp recorded an industry-first and the MyLegend App, with the launch of Legend giving them greater control Omni – FTTR (Fiber-To- and flexibility. Internally, the The-Room), becoming the company also implemented first network provider in AI-driven automation across Nigeria to deliver room- key operational processes, Kayode Tokede

boosting efficiency, strengthening accountability, and improving overall team productivity. Speaking on the year’s achievements, the Company’s Chief Marketing Officer, Shakirah Alaga, said the Legend’s milestones demonstrate a clear focus on restoring trust and providing tangible value to customers. “Our 2025 journey has been about restoring confidence through action, from redefining home connectivity with Legend Omni FTTR to deploying AI-powered platforms like NINA that put speed, transparency, and convenience at the centre of the customer experience, As we move forward, our priority remains deepening customer relationships, strengthening our brand promise, and ensuring that innovation directly translates into better everyday experiences for Nigerians.”, Alaga said.

Stakeholders Applaud APM Terminals Kano at 10th Anniversary APM Terminals Kano celebrated its 10th Anniversary, demonstrating the company’s firm dedication to developing supply chains across the nation and especially in the North where facilitating seaborne trade requires dedicated solutions. The Nigeria Customs Service (NCS) Kano/ Jigawa Zonal Command and other stakeholders have commended APM Terminals Kano for its contributions to trade facilitation and the local economy during the terminal’s 10th anniversary celebration. Customs Area Comptroller of the Kano/ Jigawa State Command, CAC Dalhatu Abubakar, made this known at the 10th anniversary celebration of the Inland Container Depot. He praised the terminal’s support, noting that it has

helped the command achieve multiple national awards, including best in revenue generation, capacity building, stakeholder engagement, and anti-money laundering operations. “I congratulate you and your team for the successes you have recorded. Your company’s contribution, alongside others, within Kano and Jigawa area command has made the Kano/Jigawa Customs Command a recipient of several awards. This feat is a testament to the support the Kano/ Jigawa Customs Command receives from APM Terminals Kano and other likeminded stakeholders in the state,’ Comptroller Abubakar said. In his welcome address, APM Terminals Nigeria CEO, Frederik Klinke, had earlier highlighted the depot’s growth since its establishment in 2015, expanding from one

shipping line to 11 and serving businesses across Kano, Katsina, Kebbi, Maiduguri, and Sokoto. He reaffirmed the company’s vision to restore Kano’s historic role as a regional trade hub through multimodal logistics and strong links to Apapa and Onne seaports. “Yet, while we celebrate how far we have come, our eyes remain firmly on the future. We envision a time when Kano’s trade regains its historic prominence—once again becoming a thriving hub of trans-Saharan commerce with Niger and Chad,’’ Klinke said. Commercial Manager, APM Terminals Apapa, Kayode Olufemi Daniel outlined infrastructure upgrades made over the years, including a fuel dump, generator house, drivers’ lounge, and a modernized Terminal Operating System.

SCAN Support Orphanage With Foodstuffs, Cash Donations Maritime Journalists under the aegis of the Shipping Correspondents Association of Nigeria (SCAN) on Wednesday, December 24, 2025, paid a charity visit to Chosen Child Orphanage and Care Centre in Lagos State as part of the association’s Corporate Social Responsibility (CSR) initiatives. Led by its President, Mr. Moses Ebosele, the SCAN delegation interacted with the children and caregivers at the home, sharing moments of encouragement, goodwill and fellowship. The

visit also featured the presentation of food items and cash support to assist the orphanage in meeting the welfare, nutritional and general upkeep needs of the children. Speaking during the visit, Ebosele said the initiative reflects SCAN’s belief in giving back to society and supporting vulnerable members of the community. He noted that caring for children without parental support is a collective responsibility that should not be left to a few individuals.

In appreciation, the founder and matron of Chosen Child Orphanage and Care Centre, Mrs Loisa Ayuba expressed gratitude to SCAN for the timely donations, describing them as meaningful contributions that would go a long way in meeting the needs of the children. According to Ebosele, the visit underscores the association’s commitment to social impact initiatives aimed at improving lives and fostering sustainable community development in Lagos State and beyond.

L-R: Lagos State Controller, Federal Fire Service, Adebayo Funke; Marketing Business Partner, Fidelity Bank Plc, Tolulope Rojaiye; Assistant Superintendent of Fire, Ishola Folorunsho Olufemi and Station Commander, Onikan Fire Station, Lagos, Okeke Ferdinand; during the donation of firefighting equipment to the Federal Fire Service at Ikoyi, Lagos.. recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MiLLiOn nAiRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- Cbn bills Held by Money Holding sectors

9,291.49

Money supply (M2)

119,028,285.58

Quasi Money

79,681,419.97

-- narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

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

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

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

OPEC DAILY BASKET PRICE As AT 24TH nOVeMbeR , 2025

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

T H I S D AY • THURSDAY DECEmBER 25, 2025

mARKET NEWS

Despite Bargain Hunting, Stock Market Gains N953.35bn WoW

Kayode Tokede Despite bargain hunting in some fundamental stocks, the Nigerian equities market added N953.35 billion Weekon-Week (WoW). The market will not open today as the federal government has declared Thursday December 25 and Friday December 26,

2025, as Public Holidays to commemorate the Christmas Celebration. The market capitalisation that opened for trading at N96.937 trillion, gained N953.35 billion or 0.98 per cent to close at N97.890 trillion yesterday. Consequently, the NGX All-Share Index closed trading at 153,539.83 basis points this week, representing an increase of 1,482.45 basis points or 0.97

P R I C E S MAIN BOARD

F O R DEALS

per cent from 152,057.38basis points the stock market closed for trading this week. All other indices finished higher with the exception of NGX Premium, NGX Insurance, NGX MERI Growth, and NGX Lotus II Indices which depreciated by 0.51per cent, 2.13per cent, .23per cent and 0.62per cent respectively while the NGX Oil and Gas and NGX Sovereign Bond indices closed flat.

S E C U R I T I E S MARKET PRICE

qUANTITy TRADED

The Exchange noted that a total turnover of 2.876 billion shares worth N63.832 billion in 80,229 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 9.849 billion shares valued at N305.843 billion that exchanged hands last week in 126,584 deals. According to the NGX weekly report, the financial Services Industry (measured by volume) led the activity

T R A D E D

vALUE TRADED ( N )

A S

MAIN BOARD

O F

chart with 1.984 billion shares valued at N32.680 billion traded in 31,632 deals; thus contributing 68.99per cent and 51.20per cent to the total equity turnover volume and value respectively. The Investment Industry followed with 208.695 million shares worth N2.264 billion in 640 deals. Third place was the Conglomerates Industry, with a turnover of 147.002 million shares worth N6.085

billion in 1,676 deals. Trading in the top three equities, namely Abbey Mortgage Bank Plc, VFD Group Plc and Custodian Investment Plc (measured by volume), accounted for 1.471 billion shares worth N14.684 billion in 1,093 deals, contributing 51.15% and 23.00per cent to the total equity turnover volume and value respectively.

D E C E M B E R / 2 4 / 2 5 DEALS

MARKET PRICE

qUANTITy TRADED

vALUE TRADED ( N)

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THURSDAY, DECEMBER 25, 2025 • THISDAY

THIRTY-EIGHT

Alleged Alteration: Ndume Urges Tinubu to Suspend January Rollout of New Tax Laws NLC: We will reject tax system that ignores workers’ plight

Onyebuchi Ezigbo and Sunday Aborisade in Abuja

Amid mounting controversy over Nigeria’s newly enacted Tax Reform Acts, former Senate Leader, Senator Ali Ndume, has called on President Bola Tinubu to immediately suspend the planned January implementation of the laws. Ndume, who represents Borno South Senatorial District, made the appeal in a statement issued in Abuja, yesterday, urging the President to intervene decisively to resolve allegations of alterations in the final documents. He warned that proceeding with implementation under a cloud of suspicion could undermine the legitimacy of

the reforms and weaken public confidence in the legislative process. The tax laws, which are expected to come into force from January, have triggered intense public debate following claims by opposition politicians, civil society organisations and professional bodies that the versions assented to by the President may not reflect what was duly passed by the National Assembly. The controversy has since widened, drawing in the Nigerian Bar Association (NBA), former Vice President, Atiku Abubakar, members of the opposition political parties, regional groups and lawmakers. Last week, a member of the House of Representatives,

Abdussamad Dasuki, formally drew the attention of the Green Chamber to alleged discrepancies between the tax bills passed by the National Assembly and the copies later gazetted by the federal government. Dasuki had alleged that material alterations were made after parliamentary approval, raising questions about the integrity of the law-making process. Reacting to the development, Ndume urged Tinubu to constitute an ad hoc committee to verify the veracity of the allegations and halt implementation until the matter is conclusively resolved. Although the House of Representatives had set up an adhoc committee to investigate Dasuki’s allegations, Ndume

cautioned that any attempt to push ahead without addressing the claims could trigger a legitimacy crisis for the tax regime. According to him, only a thorough probe by the executive, alongside parallel legislative scrutiny by the House of Representatives, could restore public confidence and ensure the credibility of the tax reforms. He said, “With the controversy surrounding it, the President should constitute a team to verify the veracity of the claim and act accordingly. “As a responsive leader that he has always been, he should look into it to find out whether the copy that was signed tallies with what the National Assembly passed. If the

claim of alterations is genuine, he should do the needful to bring the controversy to rest.” The former Senate Chief Whip warned that unresolved allegations of forgery or manipulation would make effective implementation difficult, if not impossible. “If not, the controversy will continue. That is to say the tax law will not be implemented, because you can’t build on nothing,” he added. In a statement on Tuesday, NBA President, Afam Osigwe (SAN) had said the controversies surrounding the enactment of the laws threatened the integrity, transparency and credibility of Nigeria’s legislative process. Ndume aligned himself with the position of the NBA and

President Bola Tinubu other stakeholders, including civil society organisations and groups from the Arewa community, insisting that January should not be treated as sacrosanct. Meanwhile, the Nigeria Labour Congress (NLC) has said that it will not accept any tax system that does not take care of the plight of the workers and ordinary Nigerians.

TINUBU AT CHRISTMAS: I’M COMMITTED TO RELIGIOUS FREEDOM, SECURITY OF ALL NIGERIANS

yesterday, Tinubu declared that he remained committed to doing everything within his power to ensure religious freedom in Nigeria and protect people of all faiths from violence. He said nobody, regardless of ethnicity or belief, should be made to suffer for professing and practising his faith, adding that love for God and humanity is at the heart of all faiths. The president stated, “These shared values must continue to bind us together as one indivisible and resilient people of our blessed country. “Throughout the year, I have had the privilege of engaging with prominent leaders from the two major faiths in the country, particularly amid concerns about religious intolerance and

insecurity. “We will build on these conversations to strengthen collaboration between government and religious institutions, prevent conflict and promote peaceful coexistence.” Tinubu also disclosed that since he assumed office in 2023, “I have continually reassured Nigerians of our unyielding commitment to safeguarding the security, unity, and stability of our nation. “That commitment remains steadfast under God and the Constitution of the Federal Republic of Nigeria. All Nigerians have the right to live, worship, and pursue their aspirations in safety and dignity.” The president, in the goodwill message, stated, “My Fellow Nigerians, as we mark this year’s

Christmas, may the love of Christ and his message of grace, hope, peace, and goodwill to humanity abide with us all. “Beyond the celebration and festivities of this season, Christmas reminds us to reflect on the significance of Jesus Christ’s birth and his message of salvation as the Prince of Peace. “On this Holy Day, I wish all Christians in Nigeria and around the world a Merry Christmas. I thank God for the opportunity to serve as the leader of our great country, and I pray for peace in our land, especially among individuals of differing religious beliefs. “As your president, I remain committed to doing everything within my power to enshrine religious freedom in Nigeria and

N U P R C , N D I C E M E R G E TO P S O N I C P C ’S 2 0 2 5 I N T E G R I T Y R E P O RT, N N P C , F C S C AT B OT T O M

2025 Integrity Report of the Independent Corrupt Practices and other related offences Commission (ICPC). The upstream commission scored 91.83 points, followed by NDIC with 90.70 points, while AMCON came third with 89.93 points, the report showed. However, the Nigerian National Petroleum Company Limited (NNPC), the University of Calabar, the Federal Civil Service Commission (FCSC), and the National Centre for the Control of Small Arms and Light Weapons (NCCSALW) were among 13 Ministries, Department and Agencies (MDAs) of the federal government that failed to score any point, according to the 2025 report. The 13 agencies were subsequently classified as “high corruption risk” MDAs, the ICPC release indicated. In the report released on Tuesday, 357 MDAs were assessed in line with the Ethics and Integrity Compliance Scorecard (EICS) tool of the

commission. The EICS, is a tool used alongside the Anti-corruption and Transparency Units (ACTU) Effectiveness Index (AEI), to measure ethical compliance in the public service. Specifically, the MDAs were assessed in terms of their internal control mechanisms, organisational policies, and adherence to statutory requirements. The tool also provided a benchmark for peer comparison, government oversight, and potential investor confidence. But the report, according to the Chairman of ICPC, Musa Aliyu (SAN) showed that no MDA achieved full compliance. The Director of System Study and Review, Olusegun Adigun, who represented the chairman at the presentation stated that out of the 344 MDAs assessed, 48 (13.95 per cent) demonstrated substantial compliance, 132 (38.37 per cent) recorded partial compliance, 141 (40.99 per cent) showed poor compliance, and 23 (6.69 per cent) fell under non-compliance.

In comparison, 13 MDAs (3.64 per cent) were nonresponsive and classified as high-risk MDAs. Also, he explained that 169 MDAs did not have the core values, mission and vision systems for understanding by their staff, while 191 did not have domesticated policies regarding acceptance of gifts, donations, hospitality, and others, which may create integrity questions, noting that government institutions were expected to have a policy to guide employees. The ICPC chairman further revealed that 102 MDAs did not have strategic plans, while 154 lacked monitoring systems and failed to conduct monitoring and evaluation of programmes, projects and activities during the year under review. He added that 289 MDAs did not encourage system studies or corruption risk assessments by their ACTUs, while 315 failed to utilise the outcomes of such assessments for decision-making.

to protect all people of different faiths from violence. “As we celebrate the birth of Jesus, let us also reflect on the many contributions that Christians in Nigeria, as followers of Christ, have made and continue to make toward the progress of our country. “The love of Christ and the message of the Gospel have inspired many Christians to care for the vulnerable and less privileged in our society. We honour those who, following the example of Jesus, work tirelessly to promote peace, harmony, and tolerance in their communities. “For those who bring hope and faith in the midst of despair, this season is a reminder that,

despite daunting challenges, God is with us.” The president declared, “Since I assumed office in 2023, I have continually reassured Nigerians of our unyielding commitment to safeguarding the security, unity, and stability of our nation. “That commitment remains steadfast under God and the Constitution of the Federal Republic of Nigeria. All Nigerians have the right to live, worship, and pursue their aspirations in safety and dignity. “No one, regardless of ethnicity or belief, should be made to suffer for professing and practising his faith. The love for God and love for humanity is at the heart of all the great faiths. These shared

values must continue to bind us together as one indivisible and resilient people of our blessed country. “Throughout the year, I have had the privilege of engaging with prominent leaders from the two major faiths in the country, particularly amid concerns about religious intolerance and insecurity.” Tinubu said, “We will build on these conversations to strengthen collaboration between government and religious institutions, prevent conflict and promote peaceful coexistence. “As many Nigerians travel to reunite with family and loved Continued on page 42

PETROLEUM MINISTRY MOVES TO FULLY AUTOMATE ACTIVITIES, BEGINS PAPERLESS INTERFACE Management (ECM) system “Go Live”, according to the government, will digitise internal workflows, approvals and correspondence, while also migrating engagements with operators, regulators, and other stakeholders to secure electronic platforms. THISDAY learnt that the move was expected to reduce bureaucratic delays, minimise human discretion in routine processes, and cut operational costs associated with manual documentation. Speaking during the launch in Abuja, Minister of State, Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the project, a brainchild of the Head of Service of the Federation (HOSF), was a bold initiative. Lokpobiri stressed that it will ensure that government business was done in a seamless manner. According to him, apart from being transformational, changing from analogue to digital processes, it will also enhance the way communication is carried out in the

petroleum ministry. Supported by Galaxy Backbone Limited (GBB), Nigeria’s national digital infrastructure and shared ICT provider, Lokpobiri stated that rather than some departments and agencies paying for flights to get documents signed, they could now be carried out seamlessly online. “And so this is one initiative that is transformative. This is one initiative that aligns with the general public and the world. I think this should have come perhaps 10, 15 years ago. But I’m very proud that this is coming from the organisation,” Lokpobiri said. Describing the petroleum sector as the most critical sector “in our national life”, Lokpobiri stated that if the oil and gas sector was successful, then every other sector will feel the impact. In her keynote, the Head of Service of the Federation, Didi Walson-Jack, explained that the initiative strengthened the effectiveness of the public service by enabling faster work processes, secure record

management, and reduced reliance on paper. For a ministry that played a strategic role in Nigeria’s economic stability and energy security, Walson-Jack said the milestone was both timely and significant. She stated, “The Ministry of Petroleum Resources occupies a critical position in national development, with responsibility for policy formulation, coordination, and oversight in the oil and gas sector. Its efficiency directly impacts revenue generation, investment confidence, and national planning. “Today’s launch, therefore, represents a deliberate shift in how work is organised, records are managed, and decisions are supported. Given the ministry’s constant engagement with regulatory agencies, operators, and other Ministries, Departments, and Agencies, manual processes can no longer meet operational demands.” With the deployment, Continued on page 41

THISDAY • THURSDAY, DECEMBER 25, 2025

NEWS

THE EDGE SERIES SUMMIT...

L-R: Managing Partner, Augmentum Advisory, Topsy Kola-Oyeneyin; Founder and CEO, Akin Akinpelu Learning and Development Company, Prof. Akin Akinpelu; CEO, The Jimi Tewe Company (On screen), Jimi Tewe; Convener, The Edge Series and CEO The SwiftThink Foundation, Dr. Seyi Jolayemi; General Manager (Modern Retail); FrieslandCampina, Ifeoluwa Esther Obafemi, and Professional Event Compere, Kitan Bankole, during The Edge Series Summit 2025 held in Lagos…recently

Gov Mbah Signs N1.62trn Enugu 2026 Budget into Law, Says N870bn IGR Target Realisable As House retains N1.3trn capital expenditure, N321 billion recurrent expenditure Economic sector tops sectoral allocations with N825.9% of total budget

Governor of Enugu State, Dr. Peter Mbah, has signed the Enugu State 2026 Appropriation Bill into Law, restating his administration’s resolve to redouble the transformations recorded across every sector so far. Appending his signature to the document at the Executive Chamber, Government House, Enugu, on Wednesday, Mbah thanked members of the Enugu

State House of Assembly for their diligent and expedited consideration of the budget, promising to commence implementation immediately. Out of the N1.62 trillion budget, the sum of N1,296,092,465,000, representing 80 per cent of the budget was allocated to Capital Expenditure, while N321,305,000,000, representing 20 per cent of the budget goes to Recurrent Expenditure.

This follows the established budgeting tradition under the Mbah Administration as the 2024 budget comprised 79 per cent Capital Expenditure and 21 per cent Recurrent Expenditure per cent, while the 2025 budget comprised 86 per cent Capital Expenditure and 14 per cent Recurrent Expenditure. Also, the Economic Sector leads with N825.9 billion, which represents 51 per cent of the total

budget. The Social Sector is next with N644.7 billion, representing 40.1 per cent of the budget, while Administration Sector, Justice Sector and Regional Sector follow with N128 billion, N15.8 billion, and N2 billion, respectively. Education got the lion’s share of 32.27 per cent, with N30 billion earmarked for schools feeding in the 260 Smart Green Schools, thus maintaining the administration’s tradition of over 30 per

cent allocation to the sector in 2024 and 2025. The budget funding comprises N870 billion Internally Generated Revenue, IGR, N387 billion from Federal Account Allocation Committee, FAAC, and N329 billion from Capital Receipts. Mbah said the 2026 budget was built on the philosophies of inclusivity, accountability, transparency, traceability, and strong institutions that assures

Yuletide: Foundation Fêtes over 150 PWDs in Abuja A non-governmental organisation, Hadiza Aliyu Foundation (HAF), has distributed food items to more than 150 persons living with disabilities in Abuja as part of its Christmas outreach. The exercise, held at the Karmajiji disabilities colony, was aimed at easing hardship and bringing relief to vulnerable members of the community during the festive season.

Founder of the foundation, Hadiza Aliyu Muhammed, said the initiative was driven by a commitment to support persons with disabilities and put smiles on their faces. “We are here to support the Karmajiji community and share joy with them as Christmas approaches. This is our own way of giving back to society,” she said. Aliyu said the foundation initially planned to reach

100 beneficiaries but later expanded the exercise to about 150 persons. “We decided to extend the support to about 150 people as part of our little effort to uplift and empower persons with disabilities, who are among the most vulnerable in society,” she said. Each beneficiary received 5kg of rice, groundnut oil and spaghetti to help reduce the burden of feeding their families during the festive period. “The

Benin Residents Spend Yuletide in Darkness Felix Omoh-Asun in Benin

Residents of Benin, the Edo State capital, will spend the yuletide season in darkness as power supply to the city has dropped considerably. The supply which took a downward trend about three weeks ago has continued unabated as many parts of the city have been thrown into darkness. Investigation revealed than many parts of the city

go without power for three days running. Residents of Idokpa Community in Aduduwawa on Monday blocked major highway leading into and outside Benin, in protest over persistent power outrage in the area. They erected barricades on the bypass, which led to several hours of gridlock. The community, a suburb of the city, along the ever-busy Auchi-Abuja highway, halted

human and vehicular activities as roads were blocked. The protesters noted the community has suffered weeks of power outage hence they decided on protest as last resort. Travelers to several parts of the northern part of the state and Abuja were stranded as the protesters said they would not leave the road until the media and government officials come to the area to address them.

idea is to ease the struggle of putting food on the table for them, especially at this time of the year,” Aliyu said. She recalled that during an earlier visit to the community, residents raised concerns about sexual abuse, particularly involving children. “One of the most disturbing issues raised was sexual abuse

of children. As a follow-up, we organised a sexuality education session for primary school pupils to sensitise them on the dangers and how to protect themselves,” she said. Aliyu said the foundation also provided financial support to over 150 persons, adding that the intervention was funded from her personal resources.

that there is value for every kobo spent. The governor maintained the projected N870 IGR target was realisable, saying it only required discipline, creativity, and hard work. He also cited the administration’s turnaround of the state’s IGR from below N30 billion it met in 2023 to over N180 billion in 2024 and N400 billion in 2025. “We will be ending this year 2025 with an IGR of N400 billion, which is more than 83 per cent of our projected domestic revenue or IGR of N507 billion for this year. “However, we are confident that we are not only going to achieve the over N800 billion revenue for next year, but we are also even going to overshoot it. We believe that with the unlocking of the different streams of economic potentials in Enugu State, we will realise our domestic revenue projection,” he explained.

Northern CAN Hails Fintiri Over Pardon of Sunday Jackson John Shiklam in Kaduna

The Christian Association of Nigeria (CAN) in the 19 Northern States and the Federal Capital Territory (FCT), has commended Governor Ahmadu Fintiri of Adamawa State for what it described as a “courageous and compassionate decision” to grant a pardon to Sunday Jackson, a farmer who was sentenced to death following an incident in which he acted in defence of his life. In a statement signed by

its Chairman, Rev. Yakubu Pam, Northern CAN said the governor’s action has brought “immense relief, hope, and reassurance to citizens across the region and beyond.” According to the association, “the pardon came as a huge relief, particularly, to human rights advocates and many Nigerians who followed the case with deep concern and anxiety.” “It affirms the belief that justice, when guided by wisdom and mercy, can still prevail within our legal and

political systems. “The case of Sunday Jackson drew widespread national attention due to the troubling circumstances surrounding his conviction”, the statement added. Pam noted that, Jackson was involved in a fatal encounter while carrying out his lawful means of livelihood. He said, “Evidence and public narratives consistently pointed to the fact that he acted in self-defense in the face of imminent danger.

THURSDAY, DECEMBER 25, 2025 • THISDAY

NEWS

ENTREPRENEURSHIP TRAINING GRADUATION...

L-R: Permanent Secretary, Lagos State Ministry of Wealth Creation and Employment, Mrs. Lolade Aina; Commissioner for Wealth Creation and Employment, Mr. Akinyemi Ajigbotafe; one of the laptop award winners, Ms. Olaniyi Serah; and Senior Special Assistant on Wealth Creation and Employment, Mr. Tijani Oluwadare, at the StartRight Lagos Entrepreneurship Training graduation organised by the Ministry of Wealth Creation and Employment in Lagos … recently

EFCC: Ex-AGF, Abubakar Malami, Faces Alleged N9bn Money Laundering Charge Commission says no court order served for his release yet, insists he’s being held lawfully

Alex Enumah in Abuja and Wale Igbintade in Lagos The Economic and Financial Crimes Commission (EFCC) has filed a 16-count money laundering charge against the immediate past Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN. Malami, his son Abdulaziz Malami, and an employee of Rahamaniyya Properties Limited, Hajia Asabe Bashir, are being accused of conspiracy and concealment of proceeds of unlawful activities running into billions of naira. According to the charge, the defendants were said to have committed the various alleged offences between November 2015 and June 2025. Malami, who was Minister of Justice under former President Muhammadu Buhari, has been in custody of the anti-graft agency

since December 8, following his failure to meet his bail conditions granted him by the EFCC. The defendants would however be arraigned at the Federal High Court, Abuja, shortly after the suit is assigned to a judge. The commission in the suit filed by Mr Jibrin Okutepa, SAN, claimed that the funds allegedly acquired unlawfully were used for the purchase of luxury properties in Abuja, Kebbi, Kano, and other locations. In count one, Malami and his son were said to have between between July 2022 and June 2025, “procure METROPOLITAN AUTO TECH LIMITED to conceal the unlawful origin of the total sum of N1, 014, 848, 500.00 in the Sterling Bank Plc Account No. 0079182387”, when they reasonably ought to have known that the said sum formed proceeds of unlawful activities and thereby committed an offence contrary to Section

21(c) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.” Malami and his son were, in count two, alleged to have procured the same METROPOLITAN AUTO TECH LIMITED to conceal the unlawful origin of another sum of over N600 million.

In another count, they were alleged to have in November 2022, used Rahamaniyya Properties Limited to conceal N500 million paid for a luxury duplex at Amazon Street, Maitama, Abuja. While in count five the trio were alleged to have sometimes in September 2024, conspired to disguise the unlawful origin of the aggregate sum of N1, 049,

Sweden’s Ambassador to Nigeria, Anna Westerholm; CNN journalist Larry Madowo; and music executive, Olisa Adibua, are among the speakers billed for the Africa Music Business Summit, scheduled to hold in Lagos as part of the 9th All Africa Music Awards (AFRIMA). While the summit will take place on January 8, 2026, at the Eko

Convention Centre, Eko Hotel and Suites, the 9th AFRIMA edition is scheduled for January 9, 2026. It is expected to draw artistes, record executives, investors, policymakers and media professionals for discussions on the structure and economics of Africa’s music industry. Madowo will host the event alongside television presenter and actor Mojibade Sosanya, while

Meethaq Hotels Ltd in Union Bank Plc when they “reasonably ought to have known that the said funds formed proceeds of unlawful activity and you thereby committed an offence contrary to section 18(2) (d) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Alleged N4.6bn Money Laundering: PRP Commends EFCC’s Arrest, Investigation of Bauchi Finance Commissioner Canvasses broader investigation

Segun Awofadeji in Gombe

Bauchi State Chapter of Peoples Redemption Party (PRP) has commended the Economic and Financial Crimes Commission (EFCC) for its diligent efforts in ap-

prehending and investigating Bauchi State Commissioner for Finance and Economic Development, Yakubu Adamu, over allegations of N4.6 billion money laundering, as reported by some newspapers. PRP stressed that cor-

Swedish Ambassador, Others Set for AFRIMA Music Business Summit

Vanessa Obioha

173, 926. 13 paid through the Union Bank Plc account of Meethaq Hotels Ltd Jabi savings Account No. 0179011105 between November 2022 and September 2024. In count six, they were accused of indirectly taking control of the aggregate sum of N1, 362, 887, 872.96, paid through the savings account of

panel sessions will be moderated by industry professionals including Landry Gnamba (Côte d’Ivoire), Nde Ndifonka (Cameroon) and Victoria Nkong (Nigeria). Westerholm is expected to deliver the keynote address. Other speakers include the CEO of Universal Music South Africa and Sub-Saharan Africa, Sipho Dlamini; Ghanaian music executive Francis Doku; Moroccan

international music rights adviser Mustapha Ettouil; Sweden-based executive Georg Heritlitz; and Nigerian music executive Bizzle Oshikoya. Musicians and producers listed to participate include Nigerian music producer ID Cabassa, Congolese superstar Innoss B, Tanzanian star Juma Jux, and Ghana’s dancehall crooner Stonebwoy, among others.

ruption remained a bane to development of the state. PRP, in a statement signed by State Secretary, Hon. Wada Abdullahi, made available to journalists in Bauchi on Wednesday, said, “We acknowledge the courage and commitment of the EFCC to uphold justice and integrity within our financial and public service sectors.” The party stressed that it was necessary for all stakeholders to work together to combat the menace decisively, stating, “We reaffirm our commitment to fighting corruption and promoting good governance in Bauchi State.” PRP said, “Additionally, we strongly urge the Commissioner for Finance, Yakubu Adamu, to resign immediately to facilitate full cooperation with EFCC investigations and

ongoing court proceedings. This action will ensure that the effectiveness and operations of his office are not compromised during the process. “We welcome the arraignment scheduled for today at the Abuja Federal High Court but note that it was, unfortunately, adjourned to December 30, 2025, by Justice Emeka Nwite.” PRP further stated, “We urge the EFCC to ensure that all facts and evidence are thoroughly examined. It is imperative that justice is served without bias or favouritism, and that no individual, regardless of their position, is above the law.” The party called on EFCC to widen its investigation to include the entire period during which Adamu served as Commissioner for Finance.

THISDAY • THURSDAY, DECEMBER 25, 2025

NEWS

NCC GETS WEBSITE PERFORMANCE AWARD...

Executive Commissioner, Technical Standards, Nigerian Communications Commission (NCC), Engr. Abraham Oshadame (left), on behalf of Dr. Aminu Maida, Executive Vice Chairman, NCC, accepted a website performance award from Dr. Dasuki Ibrahim Arabi, DG, Bureau of Public Service Reforms (BPSR), at the BPSR office on Tuesday

PDP Considering Reverting to Saraki’s Solution to Address Internal Crisis Wike’s group says Wabara’s BoT can’t suspend them

Chuks Okocha in Abuja

Indications emerged last night that the troubled leadership of Peoples Democratic Party (PDP) was considering the possibility of reverting to the Dr. Bukola Saraki solution to the crisis plaguing the party, if it must survive its current challenges.

Saraki had advised the PDP leaders to manage their affairs in such a way that they would not need to resort to litigation, because he had envisaged that going to court would stall the progress and unity of the party. Instead, the former senate president suggested the idea of caretaker committee to enable the party address its challenges

before mulling the idea of a national convention. The latest indications emerged as some members of the Nyesom Wike group in PDP said the party’s Board of Trustees (Bo T) led Senator Adolphus Wabara could not suspend them. Saraki had urged PDP members to avoid factionalisation,

saying such a situation would only play into the hands of their enemies. He also advised that the leaders should manage the party to get to the national convention, where they could now fix the troubling issues, review the constitution, and chart the way forward. A party source said, “The

PETROLEUM MINISTRY MOVES TO FULLY AUTOMATE ACTIVITIES, BEGINS PAPERLESS INTERFACE

Walson-Jack stated that the ministry joined institutions across the Federal Civil Service using the Enterprise Content Management System, ensuring secure records, clear audit trails, efficient workflows, and reliable institutional memory. Deployed on the 1Gov Cloud platform, she explained that ECMS enabled electronic approvals, automated workflows, and interoperability across government, shifting decision-making from the movement of files to timely access to accurate information. She added, “This development places the ministry on track to comply with the federal government’s directive on the full digitalisation of work processes by 31 December 2025 and advances Pillar Five of the Federal Civil Service Strategy and Implementation Plan 2021–2025 (FCSSIP25), which prioritises digitalisation across Ministries, Departments, and Agencies.” However, Walson-Jack said digital transformation did not end with the launch of a system, stressing that its success depends on consistent use, adherence to established

processes, and sustained digital discipline. According to her, “Going forward, paper-based processing within the Ministry of Petroleum Resources should progressively give way to disciplined digital practice, with official correspondence routed through registry.ops@petroleumresources.gov.ng, registry. ohmspro@petroleumresources. gov.ng (HM Oil) and registry. ohmsprg@petroleumresources. gov.ng (HM Gas).” Earlier, Permanent Secretary in the ministry, Patience Oyekunle, said the event signified the transition from manual, paper-based processes to a modern digital platform that will enhance efficiency, transparency, and service delivery. “This achievement aligns with the ongoing public service reforms championed by the federal government,” Oyekunle stressed. Meanwhile, the new chief executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, assumed office with a clear message to advance the country’s upstream

oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021. Eyesan said spoke on Tuesday during her first town hall meeting with the management and staff of the agency, according to a statement by Head of Media and Strategic Communication of the commission, Mr. Eniola Akinkuotu, which was obtained yesterday by THISDAY. Eyesan was appointed NUPRC chief executive last Wednesday by President Bola Tinubu in replacement of Gbenga Komolafe, who had resigned the same day, together with his counterpart at Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed. Taking over from her predecessor, Eyesan further disclosed plans to make the commission a business enabler and reignite investments in the upstream sector. She also set a firm production ambition of growing Nigeria’s output and increasing gas production. The NUPRC boss said, “The goal is that we must

enable the industry; we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody. “My main objective is to ensure that we make a difference. I believe the NUPRC is at the centre of the industry.” Eyesan, who had served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency, and efficiency in operations. She said with the support of staff and management, NUPRC would become the gold-standard regulator in Africa. Eyesan also promised capacity development, stronger technical depth, and sustained engagement with stakeholders, unions, and professional teams. On leadership style, she promised an open-door policy and frequent staff engagement. Eyesan solicited support and cooperation as the industry embarked on the next phase of transformation. “If we work together, we can unleash opportunities, I don’t see impediments only opportunities,” she added.

party leaders did not listen. They pushed the matter until the resultant court cases and factions. With the litigations, Saraki advised that the best move was to stop the convention and set up a caretaker committee that will be used to resolve all the issues and reconcile the various factions and groups.” The source added, “Still, the feuding parties refused to listen, and they went to hold a convention that has now become an exercise in futility. With the recent decision of INEC, PDP has now become a flock of sheep without shepherds. A ship without a captain.

“The next move is to return to the Saraki formula. As the former governor of Kwara State has counselled, the leaders should not wait for court to give judgement in any of the cases. The party leaders should move among themselves and start talking about resolving the disagreements.” Meanwhile, Saraki and some others have already begun moves to bring the party together again. Nevertheless, some members of the BoT disowned a communiqué issued after the party’s 83rd BoT meeting, describing it as unconstitutional, illegal and without effect.

Abia Assumes Full Regulatory Control of Electricity Market Boniface Okoro in Umuahia

The Abia State Government has taken over full regulatory control of the electricity market in the state as the Nigerian Electricity Regulatory Commission (NERC) transferred the final regulatory authority order to the Abia State Electricity Regulatory Authority (ASERA) on December 24, 2025. This transfer marks a significant milestone, allowing ASERA to regulate and oversee all electricity sector activities within Abia State, including generation, transmission, distribution, and trading. ASERA’s Board Chairman and Chief Executive Officer,

Mr. Emeka Onyegbule, stated in Umuahia, while addressing newsmen, that this development will bring competition and efficiency to the electricity market, attracting investments and ensuring fair treatment for consumers. The authority aims to create a reliable electricity supply for every Abian, with a focus on quality service delivery and customer satisfaction. From the date of this transfer, ASERA, being the statutory regulator for all electricity sector activities within Abia State, has effectively taken over the regulation and oversight functions of all activities within the electricity sector of the state.

THURSDAY, DECEMBER 25, 2025 • THISDAY

NEWS

ON-GOING ENERHEN FLYOVER PROJECT...

Delta State Governor, Mr. Sheriff Oborevwori, acknowledging cheers from traders and residents at Enerhen Junction shortly after driving through the DSC Roundabout and Enerhen Junction Flyovers, where the Enerhen Flyover project is ongoing … recently

TINUBU AT CHRISTMAS: I’M COMMITTED TO RELIGIOUS FREEDOM, SECURITY OF ALL NIGERIANS ones during this holiday period, of a stronger nation,” he stated. Senator Godswill Akpabio, abiding grace and guidance -- the differences,” Mark stated. of Compassion, Kano CAN He emphasized that Nigeria’s Chairman Urges Christian Folks I urge all citizens to exercise called on Nigerians to use the very essence of Jesus Christ who diversity remained her greatest patience and maintain discipline Atiku Seeks Reflection, Peace, Christmas season to deepen is the reason for the season. Chairman of Christian Associa“I especially thank the strength and called on citizens on the roads. I wish all travellers national unity, promote peace a safe journey and a safe return National Renewal and love, and renew hope in Christian community for their to uphold tolerance, mutual tion of Nigeria (CAN), Kano State to their destinations. “With confidence in divine providence and our collective strength, we will continue the work of building a greater Nigeria-one that future generations will be proud of. I wish you all a Merry Christmas and a happy New Year in advance.”

Jonathan Urges Hope, Unity, Resilience

Former President Goodluck Jonathan extended heartfelt Christmas greetings to Nigerians and friends of Nigeria around the world, calling on citizens to embrace hope, unity, and a renewed commitment to the country’s shared destiny. In his goodwill message, Jonathan reflected on the significance of Christmas as the celebration of the birth of Jesus Christ and God’s enduring promise of redemption and peace, urging citizens to draw strength from faith, hope, and unity amid ongoing national challenges. “Christmas is a season that reminds us of the power of faith, humility, and selfless service, and of the enduring light that shines even in times of uncertainty,” he said. Acknowledging the economic and social difficulties confronting many Nigerians, the former president urged citizens not to surrender to despair but to remain hopeful and resilient. He stated, “The history of faith teaches us that hope is most powerful when it is tested. Just as the birth of Christ brought a new dawn to a world in search of direction, our collective faith and resilience will see us triumph over our present trials.” He emphasised the importance of peace, unity, and national cohesion, describing them as Nigeria’s greatest strengths. “Our shared humanity and our willingness to live with compassion, mutual respect, and responsibility toward one another remain the foundation

Former Vice President Atiku Abubakar called on Nigerians to embrace peace, unity, and love as enduring foundations for national healing and progress. In a message by his Media Office in Abuja, Atiku extended felicitations to Nigerians, particularly the Christian faithful, urging citizens to reflect deeply on the true meaning of the season. “I extend my warm Christmas greetings to Nigerians, especially our Christian brothers and sisters, as we mark the birth of Jesus Christ,” he said. He stated that Christmas, as a solemn reminder of the virtues of love, sacrifice, forgiveness, compassion, values, was all that Nigeria urgently needed at this moment in its history. Atiku said, “Christmas calls us to rise above division and embrace one another in love. It is a season that invites us to heal old wounds, to forgive, and to recommit ourselves to the unity and common destiny of our nation.” Atiku urged Nigerians to use the season not merely for celebration, but for quiet reflection and prayer, seeking divine guidance for peace, justice, and renewed hope for the country. He called on citizens to rededicate themselves to faith in God and to translate the spirit of love and generosity associated with Christmas into everyday conduct, especially in the relationship with neighbours and communities. The former vice president added, “As we celebrate this sacred season, let us extend hands of fellowship to one another and live as one people, regardless of our differences. Let us trust God for a better tomorrow and work, in unity and conscience, for a greater Nigeria.”

Akpabio Urges Nigerians to Uphold Unity, Back Tinubu on National Renewal

President of the Senate,

the country’s future. In his Christmas message to Nigerians, Akpabio urged citizens, irrespective of faith, to embrace the core values exemplified by the birth of Jesus Christ, particularly love, tolerance, generosity, and peaceful coexistence. The message by his Special Adviser on Media and Publicity, Hon. Eseme Eyiboh, emphasised that the yuletide period should serve as a moment of reflection and collective responsibility, especially towards the less privileged in society. According to the senate president, Christmas is not only a time for joy and celebration, but also an opportunity for Nigerians to show compassion by extending support to those in need and strengthening bonds of brotherhood across religious and ethnic divides. “On behalf of my family, constituents, the Senate and the entire 10th National Assembly, I heartily rejoice with our Christian brothers and sisters on this joyful occasion of Christmas,” Akpabio said. He also invited Nigerians of other faiths to share in the celebration, stressing that the message of Christmas transcends religion and speaks to universal values essential for national cohesion.

AbdulRazaq Hails Christians for Peaceful Co-existence

Kwara State Governor, Alhaji AbdulRahman AbdulRazaq, yesterday, commended Christians in the state for their consistent support, understanding, solidarity, and commitment to peaceful coexistence in the state. AbdulRazaq made the commendation in a statement issued in Ilorin on the 2025 Christmas celebrations in the state. The governor stated, “I extend my warm felicitations to the Christian community in Kwara State on the Christmas festivities, praying that the season brings everyone joy, peace, and God’s

consistent support, understanding, solidarity, and commitment to peaceful coexistence in our state. “On this holiday and always, I call for continuous harmony, brotherhood, and shared commitment to a safer and more prosperous Kwara State and Nigeria.” The message added, “And in the light of our current challenges, I request that we remain vigilant, patriotic, and supportive of government’s efforts as security forces work round the clock to sustain public safety in every part of the state. “I wish everyone a Merry Christmas and a more fulfilling New Year ahead.”

Mark Seeks Vigilance, Sacrifice, Tolerance

National Chairman of African Democratic Congress (ADC), Senator David Mark, felicitated with Nigerians on the occasion of Christmas, calling for renewed vigilance against insecurity and collective commitment to national unity. In a goodwill message to commemorate the birth of Jesus Christ, Mark urged Nigerians to embrace peace, tolerance, and harmonious coexistence across religious and ethnic lines. He stated, “As we commemorate the birth of our Lord Jesus Christ, I extend my warmest Christmas greetings to you and your families across the length and breadth of our dear country. “Christmas is a season that reminds us of the timeless values of love, peace, sacrifice, humility, and service to humanity.” According to him, those virtues are particularly significant at a time when the country is grappling with economic challenges, insecurity, and social divisions. “I urge all Nigerians to draw strength from the true spirit of Christmas by showing compassion to one another, reaching out to the less privileged, and standing united despite our

respect, and national cohesion in the collective pursuit of peace and progress.

Diri: Let’s Find Strength in God’s Word

Bayelsa State Governor, Senator Douye Diri, sent a philosophical message to the Christian faithful and people of the state at Christmas, urging them to find strength in the word of God. Diri, in the Christmas message issued by his Chief Press Secretary, Mr. Daniel Alabrah, urged people of the state to find strength in the hope brought by God’s Word. He stated that although the state still mourned the passing of his deputy, the people must look beyond the pain and sorrow to the succour and light that the birth of Jesus brought to man and the world. He said even in sorrow, believers in Christ must find a deeper truth, saying, “Jesus came not for the comfortable, nor for the triumphant, but for the broken, the grieving, the captive, and the weary. “To every Bayelsan, who carries a burden, a wound, a fear, or a silent tear, Christ’s birth is our anchor. His coming is our assurance that no darkness — no matter how deep — is beyond His reach. “So, even as our flesh might falter, and our hearts might ache — let us remember that God is the strength of our heart. He does not promise us immunity from pain. But He promises to walk with us through it. To heal where there are wounds. To lift where He allows us to fall. “The word of God states in 2 Corinthians 12:9: “My grace is sufficient for you, for my power is made perfect in weakness. This is my Christmas message for 2025. God’s power shines brightest in our weakness. His love is most radiant when our light seems dimmest.”

Turn Churches into Havens

Chapter, Rt. Rev. John Namaza Niyiring, urged Christians to convert their parishes, families, and institutions, during and after Christmas, to places of welcome, reconciliation, and compassion for the poor. In his message, yesterday, Niyiring also prayed for the sick, the displaced, and all those who felt forgotten in the society. He emphasised that the celebration of the birth of Christ should deepen faith, strengthen unity, renew commitment to God’s gospel, and bring peace to hearts and homes. Niyiring stated, “In a world increasingly marked by fear and anxiety, the celebration of Christmas renews our confidence in God’s abiding presence in our lives. God comes among us in Jesus Christ, bringing light to our darkness and hope to our troubled hearts. “To help the Church to proclaim the coming of Christ with renewed faith and courage –not only in words, but in lives shaped by charity, justice and peace.” He also prayed, “Our proclamation should offer reassurance to the fearful , healing to the wounded and hope to all who seek meaning and direction.”

Urging Unity, Northern Elders Quote Qur’an, Bible in Christmas Message

Northern Elders Forum (NEF), yesterday, quoted both the Holy Qur’an and Holy Bible in its Christmas message, calling on Nigerians to embrace unity, peace, and mutual understanding. The forum extended warm Christmas greetings to Christians in northern Nigeria and across the country, while conveying its goodwill to all Nigerians as the year drew to a close, for a New Year to begin. In a statement by NEF spokesperson, Professor Abubakar Jika Jiddere, the forum described Christmas as a season of deep Continued on page 43

THISDAY • THURSDAY, DECEMBER 25, 2025

NEWS

PRESS CONFERENCE ON LAUNCH OF BITMARTE.COM...

L-R: Legal Adviser, Springrock Group, Mrs. Amaka Onaibre; Chief Executive Officer, Springrock Group (BitMART), Dr. Eke U. Eke; and Business Manager/Chief Operating Officer, Springrock Group, Mrs. Tolu Ogungbade, during the press conference on the launch of Bitmarte.com, an online shopping platform by Bitmarte CBIT Industries Limited, held in Victoria Island, Lagos … recently

TINUBU AT CHRISTMAS: I’M COMMITTED TO RELIGIOUS FREEDOM, SECURITY OF ALL NIGERIANS reflection, renewal of faith, and the defence of our nation. Bauchi Govt Distributes Food can transform our country and of religious tolerance as a key and counselling. “You remain vigilant, confront- to Christians usher in economic prosperity. pathway to national cohesion reaffirmation of the values of love, Executive Director of PEEEI, ing diverse threats to our collective ‘’As we celebrate together, and harmonious living. peace, and sacrifice. Mrs. Priscilla Ekwueme Eleje, Jiddere stated, “It is a moment that calls on individuals and nations alike to pause, look inward, and recommit to the higher ideals that sustain peaceful coexistence. “As the Holy Bible reminds us, ‘Glory to God in the highest, and on earth peace, goodwill toward men (Luke 2:14)’. This timeless message speaks directly to our shared aspiration for harmony and mutual respect in Nigeria. “In the same spirit, the Holy Qur’an teaches: ‘O mankind, indeed We have created you from male and female and made you peoples and tribes that you may know one another. Indeed, the most noble of you in the sight of Allah is the most righteous of you (Qur’an 49:13)’. “This profound guidance underscores the sanctity of human dignity and affirms that our diversity, religious, ethnic, and culture is a divine trust that must be preserved through tolerance and understanding.” The elders urged Nigerians to use the festive season for sincere national reflection, stressing that the country is at a critical juncture where unity, love, and shared responsibility are essential.

CDS Hails Troops’ Courage, Discipline

Chief of Defence Staff (CDS), General Olufemi Oluyode, commended officers and men of the Armed Forces of Nigeria for their courage, discipline, professionalism, and selfless service to the nation, describing these qualities as the hallmarks of the military’s finest traditions. In his message to troops and Nigerians, Oluyode paid glowing tributes to personnel deployed across various theatres of operation, stating that many continue to defend the country even during the festive season, often at great personal sacrifice. He said, “I pay special tribute to our gallant frontline troops who, even during this sacred season, remain deployed across various theatres of operation in

peace and security, while others enjoy Christmas with their loved ones. For this, the nation owes you an immeasurable debt of gratitude.” The CDS assured military personnel that their welfare remained a central priority of the armed forces leadership. He reiterated the commitment of the high command to improving the living and working conditions of service members and their families.

Olukoyede Urges Hope, Light, Value of Love

Chairman of Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, called on Nigerians to embrace the values of love, light, and hope, which Christ exemplified, and move the country forward on the strength of those values. Olukoyede’s charge was contained in his message to the nation, yesterday, in Abuja. “Nigeria needs the refreshing hope, love and light which Christ brought to the entire world,” the EFCC boss said. He enjoined Nigerians to work together to make the country greater and more respected in the comity of nations. In the statement by his spokesperson, Mr Dele Oyewale, while emphasising the need for all Nigerians to unite to make the country greater, stronger and richer, Olukoyede stated, “Corruption is a drawback,” which should be confronted “more fiercely to allow the abundant life of God manifest in our nation.” Olukoyede also tasked Nigerians to embrace the Renewed Hope agenda of President Bola Tinubu and allow the agenda ignite stronger hope of greater Nigeria in them. “Let the Renewed Hope agenda of Mr. President ignite fresh hopes of revival in us that Nigeria will rise again,” he said.

Bauchi State Government approved the purchase and distribution of food items worth N540 million to the Christian community in the state as Christmas gifts. Chairman of the State Standing Committee on Christmas Gift Distribution, Abdon Dalla Gin, disclosed this yesterday while briefing journalists in Bauchi. Abdon Gin said a substantial portion of the items would be allocated to the five blocs of the Christian Association of Nigeria, Bauchi State Chapter, comprising ECWA, Catholic Secretariat, COCIN, Church of Nigeria, and the Pentecostal Fellowship of Nigeria. Other beneficiaries, according to Abdon Gin, included state and federal Christian functionaries, recognised Christian groups and associations, military and paramilitary organisations, as well as political parties within the state. He appreciated Governor Bala Mohammed for ensuring fairness among adherents of different faiths and assured the Christian community of transparent and judicious distribution of the items.

Turaki: May Christmas Spirit Bring Hope

National Chairman of Peoples Democratic Party(PDP), Kabiru Tanimu Turaki, SAN, yesterday, asked that the spirit of Christmas should bring hope and renewal to all Nigerians. In his Christmas message, Turaki said, ‘’As Nigerians celebrate the birth of Jesus Christ, the entire political organs and administrative structure of the Peoples Democratic Party send our warmest felicitations to our Christian members and the larger body of Christ in Nigeria. ‘’This season reminds us of the enduring values that Jesus embodied-love, sacrifice, humility, and generous provision for others. These are not merely seasonal virtues but timeless principles that if embraced in our national life,

we assure you of our renewed commitment to championing these same values in our politics, believing they hold the key to attainment of the Nigeria of our collective dreams.” Turaki added, ‘’In the joyful spirit of this season, we are reminded that even in challenging times, determined people have not only survived, but have emerged stronger and found beauty in ashes. ‘’May this Christmas fill your hearts with joy, your homes with peace, and your spirit with renewed optimism for the brighter days ahead. We wish everyone a merry Christmas and a prosperous New Year filled with God’s abundant blessings.’’

Olawepo-Hashim Urges Nigerians to Embrace Love, Tolerance at Christmas

Presidential hopeful, Dr. Gbenga Hashim, extended warm Christmas greetings to Christians and all Nigerians, calling on citizens to embrace love, tolerance, and peaceful coexistence during the festive season. In a statement by his media office, Olawepo-Hashim described Christmas as a time of joy, hope, peace, and goodwill, saying these are urgently needed amid current developmental and social challenges. He stated, “I celebrate with the Christian faithful and urge all Nigerians to remember the true essence of Christmas. In the spirit of the season, we must show love to our neighbours, extend kindness to the less privileged, and demonstrate tolerance across lines of faith, politics, and ethnicity—reflecting the supreme sacrifice and teachings of our Lord, Jesus Christ.” Olawepo-Hashim encouraged Nigerians to draw inspiration from the season’s message, renewing their faith in God’s power to restore the country’s unity and prosperity. He emphasised the importance

“As we observe Christmas this year, let us imbibe the core message of Christ’s ministry and genuinely begin to love our fellow Nigerians as we love ourselves,” he added.

IPCR Urges Peace, Unity

Institute for Peace and Conflict Resolution (IPCR) appealed to citizens to conduct themselves peacefully and uphold the values of unity, tolerance, and mutual respect. In a message by its DirectorGeneral, Dr. Joseph Ochogwu, the institute described the festive period as a time for reflection, reconciliation, and renewed commitment to peaceful coexistence. It stated that the values associated with Christmas – love, compassion and forgiveness – were critical to addressing the country’s security and social challenges. The institute stressed that peacebuilding was a shared responsibility that required the active participation of individuals, communities, and institutions. According to IPCR, sustainable peace can only be achieved when justice, equity and fairness are upheld. It added that peace should be seen not merely as the absence of conflict but also as the presence of social justice.

NGO Supports Widows, Vulnerable Families with Food Items, Psychosocial Care

A non-governmental organisation (NGO), Priscilla Ekwueme Eleje Empowerment Initiatives (PEEEI), offered support to widows and vulnerable families in Kabusa, Abuja, with food items and psychosocial care. The intervention, organised as a Christmas outreach, took place at Found Favour International Academy, Angwan Bako, Kabusa, Abuja, where beneficiaries gathered not just to receive food packages but also words of encouragement

addressed the gathering, while a beneficiary, Kufreabasi Effiong, spoke on behalf of recipients. Eleje said the outreach was inspired by gratitude and a desire to give back, particularly to women, youths and the girl child, whom she described as central to community wellbeing. “I am a product of God’s grace and mercy, for which I am ever grateful. For this great blessing, I have chosen to give back by empowering girls, women and youths to thrive economically and mentally. That is my passion, and that is what motivated PEEEI,” she said. Eleje explained that while the organisation prioritised women and girls, its work was inclusive and designed to strengthen entire communities.

Catholic Bishop Seeks Hope, Peace, Others

Catholic Bishop of Abeokuta Diocese, Rev. Peter Odetoyinbo, urged Nigerians to anchor their hope for peace in Jesus Christ amid the country’s mounting social and economic challenges. Odetoyinbo made the call in his Christmas message, titled, “In Jesus Christ Is Our Hope for Peace,” where he underscored the spiritual essence of Christmas as the celebration of God’s humble entry into human history through the birth of Jesus Christ. He stated that Christmas served as a reminder that genuine peace “does not come through power or force”, but through humility, love and faith, as symbolised by Christ’s birth in a manger. Acknowledging the realities confronting many Nigerians, Odetoyinbo lamented that numerous families were battling hunger, insecurity, and lack of peace in their communities. He also highlighted the struggles of young people weighed down by unemployment and uncertainty about the future, Continued on page 45

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THISDAY • THURSDAY, DECEMBER 25, 2025

BACK PAGE CONTINUATION AFREXIM BANK’S STATEMENT TO ELUMELU At the ceremony, Elumelu was characteristically candid about the journey. He spoke about the delays his company faced under President Muhammadu Buhari when acquiring OML 17. The Buhai administration stalled his efforts on grounds that the asset was “too large for private sector ownership.” The irony, as he also noted, was that Shell itself is a private sector entity. Those delays, Elumelu said, came at significant financial cost. Yet Heirs Energies never defaulted on its obligations, even while battling the severe oil theft that has become an unfortunate feature of Nigeria’s energy sector. Elumelu was effusive in his praise for Afreximbank, which he described as “the most impactful and catalytic financial institution in Africa.” He spoke about trust, performance, and the discipline required to sustain partnerships with institutions that put their money where transformative projects exist. “When financial institutions support you,” he said, “the least you owe them is to perform.” It is a simple truth that should resonate with every aspiring entrepreneur: access to capital is one thing; the credibility to deploy it effectively is quite

another. Elombi, for his part, emphasized that Afreximbank’s confidence in Heirs Energies was built on demonstrated leadership, governance, and asset quality. This transaction, he added, aligns with the bank’s mandate to support African champions driving sustainable economic transformation. And there lies the key point: African institutions have the capacity and the willingness to back African enterprises. What they require are bankable projects led by credible teams. In fact, I was stunned when Elombi openly prompted the President & Group CEO of Transnational Corporation Plc (Transcorp), Dr. Owen Omogiafo, to come up with ideas that would help expand their business across the continent, promising the finance. “Whoa!” exclaimed an excited Elumelu while beaming with smiles. But bank executives don’t play Father Christmas with money. They must have seen value in their relationship with the businesses championed by Elumelu who said that, as a matter of principle, he prefers to source funds outside the United Bank for Africa (UBA) which he chairs.

I may have become a broken gramophone on this issue but I will not stop saying that what Nigeria needs are more risk-takers, men and women willing to bet big on the country’s potential rather than seek safety in trading, real estate speculation, or the easy money of import dependency. In this same country, some of us can still remember a young man who had access to the authorities in the oil and gas industry yet rather than invest, he spent all the time and money buying yacht and ferrying supermodels around the world. What Elumelu and his team have done with Heirs Energies is instructive. They identified a critical sector, acquired strategic assets, navigated regulatory complexities, and built operational excellence. The $750 million Afreximbank facility is validation that when you get these fundamentals right, the money will come. The broader lesson extends beyond Nigeria. Across Africa, we hear lamentations about the absence of capital for meaningful development. Yet Afreximbank alone has assets exceeding $40 billion. Add to that the African Development Bank, the continent’s sovereign

wealth funds, pension assets, and private capital pools, and the picture becomes clear: Africa has money. What Africa needs urgently are more entrepreneurs with the audacity to dream big, the competence to execute, and the integrity to sustain investor confidence. As Elumelu put it at the ceremony, “This is Africa financing Africa’s future.” It is a powerful statement, one that challenges the narrative of perpetual dependence on Western capital. But for this narrative to become reality, we need our governments to create enabling environments. The regulatory delays Heirs Energies faced should never have happened. When private sector players demonstrate capacity, government should facilitate, not frustrate. As I left the venue, I thought about entrepreneurs who insist the money is not there. Perhaps the real question is whether they have a project compelling enough to attract it. The Heirs Energies-Afreximbank deal proves that when African entrepreneurs bring bankable mega projects to the table, African capital will back them. The finance is there. What we need are more people willing to take the risk.

NEWS

Court Halts Installation of Onisemo of Lagos Pending Determination of Suit Wale Igbintade

The Lagos State High Court has ordered all parties to maintain status quo in the dispute over the proposed installation of a new Onisemo of Lagos, pending further proceedings in a suit challenging the selection process. The order followed an application filed by members of the Onisemo Chieftaincy Family, who are opposing moves to install Mr. Lookman Bolaji Oluwa, also known as Lookman Noah Fagbayi, as the Onisemo of Lagos. The claimants are Princess

Olabiyi Kosoko, Mrs. Hawawu Abiodun Teluwo - suing for themselves and on behalf of the Onisemo Chieftaincy Family of Lagos - and Mr. Olusegun Adebiyi Gbolade. The defendants include the Governor of Lagos State; the Attorney-General of the State; Oba Rilwan Akiolu I, the Oba of Lagos; the Executive Chairman of Lagos Island Local Government; the Secretary of the Chieftaincy Committee, Lagos Island Local Government; the Commissioner for Local Government and Chieftaincy Affairs; Mr. Sodiq Abosupala; and Mr. Lookman

Bolaji Oluwa. At the hearing, counsel to the claimants, Otunba Martins Ogunleye, told the court that while the first to sixth defendants had been duly served with the originating processes, service was yet to be effected on the seventh and eighth defendants. He subsequently moved a motion ex parte dated September 23, 2025, supported by a 22-paragraph affidavit, eight exhibits, and a written address, urging the court to grant interim reliefs. No legal representation appeared for any of the defendants

at the hearing. Among the reliefs sought, the claimants requested an interlocutory injunction restraining the Oba of Lagos, his servants, agents, or privies from installing, coronating, or performing any installation rites on the eighth defendant as the Onisemo of Lagos, pending the hearing and determination of the substantive suit. In his ruling, Justice N.O. Ojuromi, held that interim injunctions are preservatory in nature and are intended to maintain the res pending the determination of a motion on notice.

He consequently ordered all parties to maintain the status quo and adjourned the matter to January 9, 2026, for a report of service on the seventh and eighth defendants, with an assurance of accelerated hearing once service is completed. In an affidavit in support of the application, Princess Kosoko, the first claimant, deposed that she is the Secretary of the Oshokeji Ruling House of the Onisemo Chieftaincy Family of Lagos. She stated that the suit was instituted to challenge the “purported selection” of the eighth defendant as Onisemo

of Lagos, insisting that he is neither a member of the Onisemo chieftaincy family nor of the Oshokeji Ruling House, which she described as the only ruling house entitled to produce the next Onisemo. She further averred that it was the turn of the Oshokeji Ruling House to present the next Onisemo following the death of the last title holder, Chief Lekan Adamson, in 2019, and that the third claimant was duly selected by the ruling house as the Onisemo-elect, as evidenced by an exhibit attached to the affidavit.

TINUBU AT CHRISTMAS: I’M COMMITTED TO RELIGIOUS FREEDOM, SECURITY OF ALL NIGERIANS as well as parents burdened by rising living costs, school fees, and the challenge of meeting basic family needs. The bishop drew attention to the plight of farmers living in fear due to insecurity, traders affected by instability, and communities ravaged by violence, poverty and displacement. Describing Nigeria as a nation wounded by hunger, poverty, unemployment, corruption and insecurity, he called for collective conversion of heart among both leaders and citizens. Odetoyinbo warned that peace could not be achieved through violence, greed or indifference, stressing that lasting peace requires recognising one another as brothers and sisters, regardless of tribe or religion, defending the dignity of every human life, and choosing justice over selfish interests.

Adeola Urges Nigerians to Pray for National Renewal as Tinubu’s Reforms Show Gains

Chairman of Senate Committee on Appropriation, Senator Solomon Adeola, urged

Nigerians to use the Christmas season to reaffirm their faith in God and offer fervent prayers for national renewal. Adeola expressed optimism that the economic reforms of President Bola Tinubu’s administration were beginning to yield tangible results. In a Christmas message to his constituents and Nigerians, generally, Adeola said the birth of Jesus Christ symbolised hope, renewal, and the promise of a better future, stating that these values should guide citizens at a time of economic adjustment and reform. The statement was signed by his Media Adviser, Chief Kayode Odunaro, in Abuja yesterday. The senator, popularly known as Yayi, called on Christians to go beyond merrymaking during the festive period and reflect deeply on the significance of Christmas, using the season to pray for peace, prosperity and unity in the country. The statement said, “Christmas represents the celebration of a new dawn for humanity. With the birth of Jesus Christ comes hope for salvation and a better future.

“This season should therefore be a period of sober reflection and supplication to God Almighty for a more peaceful, secure and prosperous Nigeria.”

Wike Urges FCT Residents to Rededicate to Love, Unity

Minister of the Federal Capital Territory (FCT), Nyesom Wike, urged FCT residents to use the occasion of Christmas to reflect and rededicate themselves to the virtues of love, unity, and peace, which were the recurrent themes of the message of Jesus Christ. Wike made the appeal in a Christmas message to residents on behalf of the FCT administration. He urged residents to see the period as one of sober reflection, and ensure they shared good tidings and goodwill towards fellow residents, creating the peace, harmony, and prosperity desirable in the nation’s capital. The FCT minister said Christmas, being the celebration of the birth of Jesus Christ, was a season of joy, giving, sharing, and good neighbourliness. He added that the occasion also offered a unique opportunity

to pray for the country and its leaders. He appreciated the people of the FCT for their cooperation and support for the administration all through 2025, and reassured them that the FCT administration remained steadfast in its task of providing infrastructure and services that will have the greatest positive impact on the lives of residents.

Fubara Tasks Rivers People on Tolerance

Rivers State Governor, Siminalayi Fubara, urged the people of the state to uphold religious tolerance and promote peace in their areas of residence. Fubara, who made the call in his massage yesterday, advised residents of the state to be security conscious during the festive period. He described Jesus Christ as the Prince of Peace, whose life remained the eternal model of love, humility, sacrifice, and compassion. Congratulating everyone for witnessing the period he described as “beautiful season of

hope, renewal, and thanksgiving”, Fubara said, “Christmas stands as a profound expression of God’s boundless love and His gift of peace to humanity. “I urge us all to reflect deeply on these enduring values and allow them to guide our conduct towards one another. “Regardless of our individual faiths, let us uphold religious tolerance and recommit ourselves to the noble responsibility of being our brother’s keeper, even amid the socio-economic challenges of our time. “Our collective progress is anchored on unity and harmony. I remain steadfast in my commitment to the Rivers First agenda, driven by peace and dedicated to inclusive development.”

Implement Policies with Human Face, Kaigama Urges FG

Catholic Archbishop of Abuja Diocese, Ignatius Kaigama, appealed to the federal government to ensure that economic policies were implemented with a sense of compassion, justice, and real human consideration, and not

merely by figures and projections. Kaigama also advised Nigerian leaders not to focus on winning or losing future elections, but concentrate on the more urgent national imperative of restoring security and safeguarding the lives of citizens. He told the government to bear a special responsibility and lead with integrity and courage. Kaigama stated, “A country gripped by pervasive insecurity cannot meaningfully debate political succession, economic reform, or democratic consolidation, because fear and instability erode the very foundations upon which governance and electoral legitimacy rest. “As we celebrate Christmas, we need to reflect on its message and let it challenge us to positive action. The government bears a special responsibility to lead with integrity and courage, but the citizens, too, must reject violence, hatred, corruption, and indifference. “We are called to speak truth, defend the vulnerable, and work together to rebuild trust and hope. The scriptures assure us that righteousness exalts a nation.”

THURSDAY, DECEMBER 25, 2025 • T H I S D AY

THISDAY • THURSDAY, DECEMBER 25, 2025

THURSDAYSPORTS Ndidi Heaps Plaudits on Super Eagles for Tanzania Defeat

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

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Davido smiles to the bank, wins big in Nigeria, Tanzania clash

Duro Ikhazuagbe

Super Eagles Captain, Wilfred Ndidi, has heaped plaudits on his teammates for making possible for Nigeria to pick all three points in the 2025 Africa Cup

AFCON 2025 of Nations’ Group C opener against Taifa Stars of Tanzania on Tuesday. Defender Semi Ajaiyi opened

scores for Eagles when he headed home off a brilliant delivery by Alex Iwobi in the 36th minute. Tanzania fought back to equalize but 2024 African Player of the Year, Ademola Lookman, made all three points secured with his

powerful left-footed shot from outside the box. But yesterday, Ndidi insisted that the “Super Eagles were really good that we got the three points, which is the most important thing at the group level.”

The Besiktas midfield enforcer admitted that the team struggled with fatigue in the second half but praised the squad’s reaction and composure under pressure. “There’s always space for improvement. The first half was good, the pace was good. In the second half we were a bit tired, but we reacted very well,” he concluded. Despite Nigeria conceding again, Ndidi downplayed concerns over defensive issues, expressing confidence in the players and coaching crew to address shortcomings as the tournament progresses. Meanwhile, Nigeria’s Afrobeat sensation, David Adeleke (aka Davido), reaped bountifully from his bet on the Nigeria versus Tanzania encounter. Davido had predicted that both teams would score during the encounter. The forecast proved accurate as Nigeria

RESULTS B’Faso 2-1 E’Guinea Algeria 3-0 Sudan I’Coast 1-0 Mozambique Cameroon 1-0 Gabon

edged Tanzania 2–1 in a tightly contested match. Super Eagles took the lead in the first half before Tanzania equalised, setting up a tense contest that was eventually settled by Ademola Lookman’s decisive goal. Reports on social medial revealed that Davido’s correct call earned him a payout of $96,564, equivalent to about N140 million, sparking widespread excitement on social media. Fans celebrated not only Nigeria’s winning start to their AFCON campaign but also applauded Davido’s sharp prediction, which turned football insight into a lucrative outcome.

St. Saviour’s School Ikoyi Endowment Fund Hosts 7th Lagos Kids Mini Marathon Riyad Mahrez scored a brace as Algeria defeated 10-man Sudan 3-0 at the ongoing Africa Cup of Nations in Morocco

Mahrez Double for Algeria Sinks Sudan Riyad Mahrez scored two goals as he helped Algeria to a dominant victory over 10-man Sudan in their 2025 Africa Cup of Nations Group E opener in Rabat. The North Africans lifted the title in 2019 but have failed to progress past the group stage at the past two editions of the finals. Former Manchester City winger Mahrez gave his side an ideal start with a

trademark left-footed curling strike from 12 yards after being teed up by Hicham Boudaoui’s smart backheel. Yaser Awad Boshara twice called Algeria goalkeeper Luca Zidane into action but Sudan’s task got harder when Salah Adel was sent off for a second bookable offence six minutes before the break. Mahrez, 34, doubled the lead just after the hour mark with a composed finish inside

the box from Mohamed Amoura’s clever through-ball. Wolfsburg striker Amoura almost added a third when he rifled a volley against the right-hand upright. Ibrahim Maza collected Baghdad Bounedjah’s knockdown just outside the six-yard box to make it 3-0 with five minutes left - Algeria’s 100th goal in Afcon. Sudan keeper Monged Elnel then made two fine

saves during added time to deny substitute Adil Boulbina. Algeria went top of Group E on goal difference ahead of Burkina Faso, who beat Equatorial Guinea 2-1earlier on Wednesday,and will remain in the Moroccan capital to face the Stallions on Sunday (17:30 GMT). Sudan travel to Casablanca to take on the Equatoguineans on the same day (15:00 GMT).

The St. Saviour’s School Ikoyi Endowment Fund successfully hosted the 7th edition of the Lagos Kids Mini Marathon on Saturday, December 6, at Orange Island. It was the celebration of the children’s athleticism, healthy competition, and community spirit. The event attracted pupils, parents, partner schools, sponsors, and supporters, with young runners competing across age categories. A major highlight was the inclusion of children with special needs for the first time, as pupils from Modupe Cole School joined the race. Access Bank Fifth Chukker School, Kaduna, emerged strongly, winning 8 of the 12 medals

on offer. Supported by CardinalStone, Alafia Foundation, Lagos State Government, Zenith Sport, Kids Future Hub, and Zaqonomic, the marathon reinforced the school’s commitment to teamwork, discipline, and youth development through sports. Organisers and school leaders praised the seamless execution and vibrant turnout, as all participants were celebrated with medals, certificates, and recognition prizes. The Endowment Fund reaffirmed its dedication to growing the Lagos Kids Mini Marathon as an inclusive and impactful children’s sporting event, with expectations of an even bigger edition next year.

AFCON 2025: Goldberg Spreads ‘Our Beat, Team Uvwie Clinch 5th Oborevwori Tournament Title Our Gold’ Spirit with Super Eagles’ Victory Invitational Team Uvwie on Sunday Team Uvwie displayed will get princely sum of N15 Goldberg Lager Beer has applauded the Super Eagles following their 2–1 victory over Tanzania in Fez, a result that handed Nigeria maximum points in their opening match and lifted spirits among fans across the country. While the win marked a positive start for the Super Eagles at the Africa Cup of

Nations, Goldberg said the moment also reflected the deeper story of Nigerian football culture — the passion, belief, and shared energy of the fans — which sits at the heart of their ‘Our Beat, Our Gold’ campaign. “Our Beat, Our Gold is Goldberg’s celebration of Nigerian football culture beyond the 90 minutes of

play,” said Kunle Aroyehun, Senior Brand Manager, Goldberg. “It speaks to the shared rhythm around football; the conversations, the humour, the emotions, and the way the game brings us together. Football in Nigeria is not just watched, it’s lived, and that collective passion is something truly golden.”

emerged champions of the 2025 Sheriff Jnr Oborevwori Invitational Soccer Tournament after a thrilling final decided by penalties at the Osubi Airport Football Pitch. Uvwie sealed the title following a dramatic comeback against Team Okpe in a pulsating encounter that kept fans on the edge of their seats. Trailing 2–0 at halftime,

remarkable resilience in the second half, scoring two quick goals to draw level shortly before the end of regulation time. With scores tied at full time, the keenly contested final went into a penalty shootout, where Team Uvwie held their nerve to secure victory and lift the coveted trophy. As champions, Team Uvwie

million, while runners-up Team Okpe will receive N10 million. Ughelli North, who finished third, will pocket N5 million. The annual tournament was sponsored by Sheriff Jnr Oborevwori Care Foundation as part of efforts to promote grassroots football development and youth engagement across Delta Central.

THISDAY • THURSDAY, DECEMBER 25, 2025

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BUDGET OF RENEWED MOMENTUM ...

L-R: Clerk to the Enugu State House of Assembly, Mrs. Ngozi Silverline Egbo; Attorney General and Commissioner for Justice, Barr. Osinachi Nnajieze; Governor of Enugu State, Dr. Peter Mbah, and the Speaker, Enugu State House of Assembly, Hon. Uchenna Ugwu, during the signing of the 2026 Budget at Government House, Enugu... yesterday

OLUSEGUNADENIYI THE VERDICT olusegun.adeniyi@thisdaylive.com

Reflections on Christmas in Lagos F or those of us who profess Christianity, Christmas is more than a festive holiday. It is a reminder of the most incredible gift ever given: the birth of our Lord Jesus Christ and the promise of redemption on which our faith is anchored. But Christmas also gives us an opportunity to find reasons for giving thanks as we reflect on family, friends and our many blessings while exchanging gifts and sharing thoughtful messages. Despite the circumstances that conspired to ensure I am not in Kwara State today, as I am every year, life has taught me to be grateful for everything. And that really is the essence of the season. Even before I relocated to Abuja in 2007, I would normally depart Lagos by the 23rd of December for Kwara State and return two or three days after Christmas to prepare for the new year. This same pattern continued in Abuja for the past 18 years. But I wake up in Lagos today for the first time on a Christmas Day due to reasons far more ennobling than ‘Detty December’—whatever that may mean. And it has been exciting being in the city. On Tuesday, my wife and holidaying son, Korede, were hosted to a dinner by the chairman of Caverton Group, Mr Remi Makanjuola and his ever-gracious wife. And last night it was my friend, Executive Director, Administration & Finance at NIMASA, Hon Chudi Offodile and wife, Vivien, who hosted us to dinner. Joined by Ije Nwizu and her husband, Obiora, it was a fun time together in the spirit of Christmas. Meanwhile, in the earlier hours of yesterday, I spent considerable time with the Oba of Lagos, HRM Rilwan Aremu Akiolu I, at his ‘Iga Idunganran’ Palace. He shared with me interesting stories about the ‘Adamu Orisa Festival’ (Eyo Festival) that will be held on Saturday after an eight year interregnum. The last one was held in May 2017 for Oba Elegushi and to celebrate 50 years of Lagos State. The Lagos monarch said they needed to rid the festival of the urchins who use it to harass and molest innocent Lagosians. Ordinarily, the festival heralds the death of a Lagos Oba as well as the ascension of a new one and is also used to honour prominent individuals and mark special occasions. With

Oba Rilwan Akiolu, the Oba of Lagos archival materials, the Lagos monarch took me through a history of the Eyo festival which was first held on 20th February 1854 for Oba Akitoye. To date, there have been 73 such festivals. Even though there were some decades when that was no festival, six were held in 1906 and four in 1909—all for prominent people. Notable individuals for whom the Eyo Festival has been held in the past include the late Queen Elizabeth in February 1956 during her visit to Nigeria and in June 1988, in honour of then military President, General Ibrahim Babangida. Perhaps because of the season, my conversation with the Oba of Lagos dwelt on so many

things, and it ended on why we should all be grateful for the mercies of God in our lives. No matter the challenges of life, the Lagos monarch admonished, there is something we can always be grateful for. Yes, I am aware of several issues in the country today: From ‘doctored’ tax laws to what many experts have described as unrealistic revenue projections in the 2025 budget to the socio-economic pressures that have turned many Nigerians to destitutes. But all these issues are not going away so soon hence they can wait. This is Christmas and we must celebrate. Now, what does that really mean? In 1897, an eight-year-old American girl by name, Virginia O’Hanlon, wrote to the editor of ‘The Sun,’ a New York City newspaper at the time, asking whether Santa Claus was real because her friends say otherwise. Frank Church, a writer and editor of the paper, sent her the reply below, which I have slightly abridged. It remains a timeless reminder of what this season is all about: Dear Virginia, your little friends are wrong. They do not believe except they see. They think that nothing can be which is not comprehensible by their little minds. In this great universe of ours, man is a mere insect, an ant, in his intellect as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge. Yes, Virginia,

there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. How dreary would be the world if there were no Santa Claus! It would be as dreary as if there were no Virginias. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The external light with which childhood fills the world would be extinguished. Nobody sees Santa Claus, but that is no sign that there is no Santa Claus. The most real things in the world are those that neither children nor men can see. Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world. You tear apart the baby’s rattle and see what makes the noise inside, but there is a veil covering the unseen world which not the strongest man, nor even the united strength of all the strongest men that ever lived, could tear apart. Only faith, poetry, love, romance, can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, Virginia, in all this world there is nothing else real and abiding. Santa Claus! Thank God! He lives and lives forever. A thousand years from now, Virginia, nay 10 times 10,000 years from now, he will continue to make glad the heart of childhood. To all my readers, Merry Christmas!

Afrexim Bank’s Statement to Elumelu

was at the Afreximbank event in Abuja last Saturday when Mr Tony Elumelu and Dr. George Elombi put pen to paper on what turned out to be a historic $750 million financing agreement for Heirs Energies. As I watched the ceremony unfold, I could not help but reflect on entrepreneurs who complain about the absence of funding for “serious businesses” in Nigeria. “The money is not there,” they would insist with the certitude of someone who had tried every door and found them all locked. Well, here was $750 million, real money being committed to an African enterprise by an African financial institution. It was a calculated investment in a company that

Tony Elumelu has demonstrated performance, governance, and the kind of vision that transforms industries.

The numbers tell their own story. When Heirs Energies took over Oil Mining Lease (OML) 17 from Shell, Total, and Eni, production stood at 25,000 barrels of oil per day. Today, it exceeds 50,000 barrels. The plan, according to Samuel Nwanze, the company’s CFO, is to hit 100,000 barrels daily within three years while ramping up gas production to 250 million cubic metres. These are not pie-in-the-sky projections, but targets backed by proven operational capacity and the kind of discipline that makes financiers comfortable parting with serious money. Continued on page 45

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