Author: The Nation

  • LIRS mandates eTax filing as January 31 deadline looms for employers

    LIRS mandates eTax filing as January 31 deadline looms for employers

    The Lagos State Internal Revenue Service (LIRS) has restated that January 31, 2026 is the statutory deadline for all employers in Lagos State to file their annual tax returns for the 2025 financial year.

    In a statement, the Executive Chairman of LIRS, Ayodele Subair, said the requirement is in accordance with the provisions of the Nigeria Tax Administration Act (NTAA) 2025.

    Subair explained that employers are mandated to submit comprehensive returns detailing emoluments and other compensation paid to employees, as well as payments made to service providers, vendors and consultants, and to ensure that all applicable taxes for the 2025 year are fully remitted.

    He stressed that the filing of annual returns is a compulsory legal obligation, warning that failure to comply will attract statutory sanctions, including administrative penalties, as provided under the new tax law.

    Citing Section 14 of the NTAA, Subair noted that employers must file complete annual returns showing all emoluments paid to employees, alongside taxes deducted and remitted to the relevant tax authorities, not later than January 31 of every year.

    “Employers must prioritise the timely filing of their annual income tax returns. Compliance should be part of our everyday business practice,” he said. “Early and accurate filing not only ensures adherence to the law as required by the Nigerian Constitution, but also supports effective revenue tracking, which is critical to Lagos State’s fiscal planning and sustainability.”

    READ ALSO: Let the truth speak in the Bauchi EFCC case

    He further stated that electronic submission via the LIRS eTax platform remains the only approved method of filing in Lagos State, noting that manual submissions have been completely phased out to streamline and standardise tax administration.

    Subair described the eTax platform as secure, user-friendly and accessible round the clock, offering employers a convenient and efficient way to meet their tax obligations.

    He also advised employers to ensure that the Tax Identification Number (TaxID) of all employees is correctly captured during the filing process, adding that employees without a TaxID should generate one promptly to prevent delays or disruptions in submission.

  • Nigerians spend N124b on domestic text messages

    Nigerians spend N124b on domestic text messages

    Nigeria’s telecom subscribers spent a total of N123.46 billion on 20.577 billion short message service (SMS) or text messages.

    The Nigerian Communications Commission (NCC), said the total number of national SMS both sent and received as at December 2024 was 20.577 billion in 2024, which translates to a drop of 10.43 per cent from the total SMS sent and received in 2023 which stood at 22.973 billion.

    Thus, at N6 per SMS, Mobile Network Operators (MNOs) including MTN Nigeria, Airtel Nigeria, Globacom, T2 and Smile Communication shared a total of N137.8 billion in 2023 as against N124 billion shared last year.

    According to a document entitled: 2024 Subscriber/Network Performance Report authored by the Policy, Competition and Economic Analysis Department of the NCC, SMS sent out in 2024 declined by 9.39 per cent compared to year 2023 while incoming SMS also decreased by 11.41 per cent than that of year 2023.

    READ ALSO: Let the truth speak in the Bauchi EFCC case

    In year 2024, MTN recorded the highest count of SMS received and sent which stood at 6.966 billion and 7.229 billion respectively, smiling to the bank with N41.7 billion and N43.4 billion respectively.

    During the period under review, Glo recorded 519,687,402 sent SMS and 723,541,017 received SMS making a total of 1,243,228,419.00 SMS on the network, translating to revenue of N7,459,370,514 or N7.5billion; Airtel Nigeria posted 2,530,814,229 SMS sent and 2,413,229,096 SMS received translating to a total of 4,944,043,325.00 SMS and cashing out with N29,664,259,950 or N29.7billion.

    T2 recorded 109,910,509 sent SMS and 1,326,394 received SMS bringing total to 1,715,835.00 and revenue of N10,295,010 or N10.3million while Smile Communication recorded 389,441 sent and 1,326,394 received SMS respectively amounting to a total of 1,715,835.00 SMS and revenue of N10,295,010 or N10.3million.

  • ‘How Fed Govt can unlock N43tr to bridge deficit’

    ‘How Fed Govt can unlock N43tr to bridge deficit’

    Chief Executive Officer, Economic Associates, Dr Ayo Teriba, has advised the federal government to make use of its dormant assets to bridge funding gap.

    Against the background of 2026 budget proposal of N58.18 trillion, with capital expenditure of N26.08 trillion, Teriba cautioned that excessive borrowing to finance the budget could strain fiscal stability.

    He said that t dormant government assets valued at over N43 trillion could be unlocked to bridge the funding gap.

    Teriba made the call while speaking at the Nigerian Economic Review and Recommendations for 2026 organised by the Chartered Institute of Stockbrokers (CIS).

    He said stockbrokers are well placed to structure investment instruments capable of creating liquidity from government-owned assets.

    He cited examples from Saudi Arabia, Brazil and India, where governments fund infrastructure by selling or securitising state assets through capital markets.

    He urged the Ministry of Finance Incorporated (MOFI) to publish a comprehensive register of public assets, allowing private investors to identify, securitise and list viable assets on the stock exchange.

    READ ALSO: Why Northern Nigeria must put education first

    “Capital projects should not be tied solely to current revenue. They should be structured to fund themselves,” Teriba said.

    On fiscal policy, Teriba expressed caution on personal income taxation, noting that while transaction-based taxes may be appropriate, the economy is still in recovery mode and requires supportive measures.

    Chief Economist, United Capital, Mr Ayodele Akinwunmi, identified manufacturing, trade, logistics, real estate, telecommunications, banking, mining and solid minerals as sectors with strong growth prospects in 2026.

    He said Nigeria’s debt-to-GDP ratio of 39 per cent was not alarming but agreed that deeper private sector participation in government assets was necessary.

    President, Chartered Institute of Stockbrokers (CIS), Mr Oluropo Dada, said the forum was organised to enhance accountability, showcase institutional achievements, align CIS strategies with national economic objectives and set a clear direction for 2026.

    According to him, throughout 2025, CIS hosted a series of high-impact economic, professional and policy-focused engagements aimed at strengthening Nigeria’s capital market ecosystem.

  • Banks offer 2.7% interest on savings, charge 60% on loans

    Banks offer 2.7% interest on savings, charge 60% on loans

    Bank customers are paying 60 per cent maximum lending rates for loans and getting maximum of 2.7 per cent interest on their savings deposits in banks -deposit money banks (DMBs), the Central Bank of Nigeria (CBN) data has shown.

    The CBN report released at the weekend and backed by the Monetary Policy Committee, explains that it decided that henceforth the lending rates obtainable in all Deposit Money Banks (DMBs) be made public to guide business decisions.

    Its report captured the applicable rates for each of the commercial banks for January. 

    The report, released at the weekend in furtherance of the apex bank’s transparency and full disclosure stance showed that manufacturing, mining and quarrying,  public utilities, finance and insurance as well as construction pay maximum rate  of 60 per cent in some banks.

    Also, oil and gas loans are priced at 46 per cent, capital market loans at 19.5 per cent and power and energy loans priced at 48 per cent per annum.

    Education loans are priced at 23 per cent while loans to government are priced at 19 per cent while rea estate loans are priced at 46.5 per cent.  

    General commerce, borrow at 45 per cent; water supply sewage, waste management and remediation activities borrow at 36 per cent while information and communication borrow at 30 per cent.

    Stakeholders observed that despite 27 per cent monetary policy rate (MPR)- benchmark interest rate-, banks were paying less interest to depositors with rising spread between average term deposit and average maximum lending rates.

    Average interest rate on demand deposits range from 0.48 to 7.33 per cent while average interest on savings deposit range from 2.70 per cent to 8.15 per cent.

    READ ALSO: Why Northern Nigeria must put education first

    The spread gap, indicated that customers are paying far higher fee than they are getting from their banks.

    The rising lending rates, analysts said, have led to upward pressure on market rates and cost of production for the manufacturing sector. They insisted that the rate at which a customer is charged for loans is dependent on the perceived risk level attached to such customers. That explains why prime customers get loans at relatively cheaper rates.

    However, the Monetary Policy Rate (MPR), which is the benchmark interest rate at which the CBN lends to the commercial banks, is currently at 27 per cent.

    Speaking at the end of the 303rd Monetary Policy Committee (MPC) meeting, Governor, Central Bank of Nigeria, Olayemi Cardoso, announced the retention of the Monetary Policy Rate (MPR) at 27.0 per cent, adjusted the Standing Facility corridor around the MPR at +50/-450 basis points and retained the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and 75.00 per cent for non-TSA public sector deposits.

    The MPC also kept the Liquidity Ratio unchanged at 30.00 per cent.

    The committee’s decision was underpinned by the need to sustain the progress made so far towards achieving low and stable inflation. The MPC reaffirmed its commitment to a data-driven assessment of developments and outlook to guide future policy decisions.

    Analysts said a lower MPR is expected to consolidate recent macroeconomic gains while providing headroom for credit expansion to the real sector.

    An MPC member, Aku Odinkemelu earlier called for  enhanced coordination between monetary and fiscal authorities to address underlying structural vulnerabilities and proactively manage the significant upside risks to the outlook.

    Despite rising cost of lending, the Nigerian private sector remained in growth territory at the end of 2025 as improvements in customer demand fed through to higher new orders, output and purchasing activity, the Purchasing Managers’ Index (PMI) has shown.

    The report showed that employment also increased, but the rate of job creation remained marginal. Inflationary pressures picked up modestly in December but remained generally close to recent lows. Meanwhile, business confidence improved sharply.

    “The headline figure derived from the survey is the Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration,” it said.

    It said the headline PMI posted 53.5 in December, little-changed from 53.6 in November and signaling a solid monthly improvement in business conditions as 2025 drew to a close. The latest strengthening in operating conditions was the thirteenth in as many months, and broadly in line with the average for 2025 as a whole.

    Head of Equity Research West Africa at Stanbic IBTC Bank, Muyiwa Oni, said: “We now see the Nigerian economy growing by 3.8 per cent year-on-year in 2025 and 4.1 per cent year-on-year in 2026. Both Manufacturing and Services are likely to see higher growth in 2025 compared to 2024 levels, based on the results from the PMI surveys so far this year,” he said.

    He explained that elsewhere, the government has been visible in infrastructure, livestock development, easing trade constraints, and attracting investments in oil & gas and manufacturing.

    “Aside from that, the Dangote refinery is expected to continue to have forward-linkage impact on other sectors of the economy. Additionally, likely lower interest rates in line with lower inflation and exchange rate stabilization should support private consumption and business investments in 2026. Because of these factors, we see more sectors contributing to real GDP growth rate in 2026 compared to 2025, likely translating to an improvement in the quality of lives of the citizens compared to 2025,” he added.

  • ‘Oyo narrowing down on criminals‘

    ‘Oyo narrowing down on criminals‘

    • Commissioner slams cartel collecting percentage to fast-track gratuity payment

    Oyo State Government has said it is aware of a cartel claiming to be government officials, extorting money from pensioners to fast-track payment of their gratuities.

    Describing the individuals as “unscrupulous elements”, the government, however, assured the citizens that it was narrowing down on them.

    To arrest the situation, the government said it was paying due diligence to the payment of gratuities to its retirees more than the previous administrations.

    Contacted by The Nation on how retirees were being made to part with certain percentages of their money in the guise of helping to fast-track the payment of gratuities, Commissioner for Information, Prince Dotun Oyelade, said the cartel had been operating in the civil service, adding that government was narrowing down on them.

    He confirmed The Nation’s investigation, saying retired civil and public servants were being asked to pay five per cent to 10 per cent of their gratuities ‘’to these cartels to fast-track payments.’’

    READ ALSO: Let the truth speak in the Bauchi EFCC case

    Oyelade lamented that the malpractice had been unfortunately long-standing, saying the issue had persisted over the years, even during the tenure of former governor Lam Adesina, and had continued to affect unsuspecting pensioners to date. He stressed that despite warnings to pensioners to be cautious, some still fell victims to the schemes, noting that those behind the extortions and their accomplices know themselves.

    Oyelade said: “The attention of Oyo State Government has been drawn to the allegations that some pensioners in the state are being extorted by unscrupulous elements claiming to be government officials.

    “The state is paying due diligence to the payment of the gratuities for its retirees more than the previous administrations.

    “With the new monthly allocation, over 800 retirees will benefit each month, compared to just 250 beneficiaries in previous years.

    “A cartel has been operating within the civil service and government is narrowing down on the criminals.

    “Retired civil and public servants are being asked to pay five per cent to 10 per cent of their gratuities to these cartels to fast-track payments.

    “This malpractice is unfortunately long-standing. The issue has persisted over the years, even during the tenure of former governor Lam Adesina, and continues to affect unsuspecting pensioners till today.

    “Those behind the extortions and their accomplices know themselves. Despite repeated warnings to pensioners to be cautious, some still fall victims to these schemes.”

    Some retirees informed The Nation that the state government was yet to pay retirees their gratuities from 2014 to 2018.

    Sources said gratuities had been paid to those who retired since the beginning of the tenure of the current administration (2019 to date).

    Some retirees, however, alleged that only those who could part with between five per cent and 10 per cent of their gratuities had been paid, with some others stating otherwise.

    The Nation gathered that those yet to be paid included: doctors, nurses, core civil servants, public servants, teachers, principals, etc.

    The retirees alleged that a cartel was operating in the civil service at the state secretariat, who fronted for top officers to look for those ready to part with five per cent -10 per cent of their gratuity.

    They, however, hailed the governor for paying the monthly pension regularly.

    Reacting, Prince Oyelade said the illegal practices were not limited to state pensions, but also affected local government pensioners.

    Highlighting government’s efforts to improve pension disbursement, the commissioner recalled that gratuities were not paid between 2011and 2016 until the arrears were cleared by Governor Seyi Makinde.

    He said the governor had increased monthly gratuity release by 200 per cent, raising total allocations from N1 billion to N3 billion monthly.

    Oyelade said with the increase in allocation for the payment of gratuity, back-door payment was not required for the processing of gratuities or entitlements, urging retirees to follow the established system of monthly disbursement and report any suspicious activity to the appropriate authorities.

    “These illegal practices are not limited to state pensions, but also affect local government staff pensioners.

    “The government is making efforts to improve pension disbursement. Gratuities were not paid between 2011 and 2016 until the arrears were cleared by Governor  Makinde.

    “He has increased monthly gratuity release by 200 per cent, raising total allocations from N1 billion to N3 billion monthly; hence, no back-door payment is required for the processing of gratuities or entitlements.

    “We urge retirees to follow the established system of monthly disbursement and report any suspicious activity to the appropriate authorities,” Oyelade added.

  • Abiodun, First Lady, Osoba to get TASFUED’s honorary doctorates Jan. 29

    Abiodun, First Lady, Osoba to get TASFUED’s honorary doctorates Jan. 29

    Ogun State Governor Dapo Abiodun, First Lady Oluremi Tinubu, and former Ogun State governor and elder statesman, Chief Olusegun Osoba, have been listed to get Doctor of Science (D.Sc., Honoris Causa) during the 17th convocation of Tai Solarin Federal University of Education (TASFUED), Ijagun, Ogun State, on January 29.

    The institution’s management announced this in a statement by the Registrar and Secretary to Council, Dapo Oke.

    The statement described Governor Abiodun, President Bola Ahmed Tinubu’s wife, and Aremo Osoba as “exceptional individuals” who = deserve the honours because of their outstanding contributions to their fields and significant impact on society.

    The TASFUED management said it felt honoured to recognise these outstanding individuals whose achievements inspire others.

    The university stressed that the honorary degrees recognised their exceptional contributions and solidified its commitment to excellence.

    READ ALSO: Why Northern Nigeria must put education first

    Explaining why it will honour Abiodun, the institution said, besides being the governor of the state since 2019 and having been re-elected in 2023, he was a successful entrepreneur and former Chairman of the Corporate Affairs Commission (CAC).

    TASFUED said Abiodun brought his wealth of private and public sector experience to his role.

    It stated: “His administration is defined by the “ISEYA” agenda, focusing on Infrastructure, Social Welfare, Education, Youth Development, Agriculture, and Governance, which has driven significant projects, like the Gateway International Agro-Cargo Airport, affordable housing, and strengthened public systems.

    “Governor Abiodun’s transformative leadership has earned Ogun State recognition as a leading industrial and investment destination. His impact is validated by numerous distinguished awards, including Governor of the Year honours from Independent and The Sun newspapers in 2023, the Silverbird Man of the Year award and, recently, 2025 accolades for Digital Transformation and as Best Governor in Enterprise and Investment Promotion.

    “These honours reflect the substantive progress and empowerment his governance has achieved for the people of Ogun State.

    “This award is in recognition of his notable strides in governance, education and humanitarian efforts. The university takes special cognisance of his passion for education and numerous contributions in reviving Ogun State’s legacy and a model of progressive governance. His modest achievements and accomplishments represent the ideals of integrity and selflessness, which our University stands for.

    The history of the institution will not be complete without mentioning the fact that his administration kick-started the process that initiated the transition of the university into a federal institution, the transformation that will bring long-term significance to education in Ogun State.

    “He is to be awarded Doctor of Science ( D.sc. Ed.) Honoris Causa in Education Management.”

    The statement described Senator Oluremi Tinubu as a philanthropist who has supported the cause of women and the girl-child through her New Era Foundation, which also focuses on youth development and public awareness in environmental health, Women’s Health and Education Foundation.

    It noted that the foundation is also aimed at empowering women and children through healthcare and education.

    “As a senator who represented Lagos Central Senatorial District from 2011 to 2023, during her time in the Senate, she served on the Committees on Health and Women’s Affairs and championed causes related to education, healthcare accessibility, and community service.

    In her role as the First Lady, she continues to advocate for women’s rights and youth.

    “She is to be Awarded a  Doctor of Science (D.Sc Ed.) Honoris Causa in Childhood Education,” the statement added.

    TASFUED described Osoba as a “distinguished media icon, statesman, and administrator of uncommon clarity of purpose”.

    The institution also described him as a towering figure in Nigeria’s history of public service, journalism, democratic struggle, and nation-building.

    “Aremo Osoba stands as one of the most respected voices in Nigeria’s political and civic sphere. 

    “Aremo Osoba served twice as Executive Governor of Ogun State, first in the Third Republic, and again, in the Fourth Republic. His tenure was marked by purposeful governance, massive rural and urban development, infrastructural renewal, community empowerment, and policies rooted in compassion and accountability. His legacy in Ogun State remains visible, meaningful, and celebrated.

    “A consummate democrat, His Excellency played a pivotal role in the struggle leading to the restoration of civilian rule in Nigeria. Aremo Olusegun Osoba is to be awarded a Doctor of Science (D.Sc. Ed.) Honoris Causa in Political Science.

    “The history of the university will not be complete without mentioning the fact that his administration kick-started the process that eventually snowballed into the transformation of the old College of Education into the Tai Solarin University of Education through signing into law the Bill that first made the college a degree-awarding institution in affiliation with the University of Ibadan.”

  • Electoral Act will be ready for 2027, says Akpabio’s adviser Ubani

    Electoral Act will be ready for 2027, says Akpabio’s adviser Ubani

    Special Adviser to Senate President Godswill Akpabio and Senior Advocate of Nigeria (SAN), Dr. Monday Ubani, has expressed confidence that ongoing amendments to the Electoral Act would be completed in time for the 2027 general elections.

    He affirmed that Nigeria possesses the institutional capacity to conduct credible elections without external interference, emphasising that political will and a strengthened legal framework are what is needed.

    Speaking during an interactive session with reporters, Ubani noted that the proposed Electoral Bill is expected to be passed by the National Assembly and assented to by President Bola Tinubu.

    “The House of Representatives has passed their version. What Nigerians are waiting for now is the Senate. They were supposed to consider it before the break. Once they resume, they will certainly pass it,” Ubani said.

    He stressed that early passage of the law is critical so that all electoral stakeholders clearly understand the rules guiding the process well ahead of the polls.

    “The election is next year. INEC and everyone involved must know the law and comply with it. When the law does not exist, you can’t know what to comply with,” he said.

    READ ALSO: Let the truth speak in the Bauchi EFCC case

    Ubani expressed optimism that any differences between the Senate and House versions of the bill would be harmonised quickly, paving the way for presidential assent.

    “I’m looking at it that before the first week of February, the law would have been passed and assented to. The President will be eager to assent to it,” he added.

    The senior lawyer said Nigerians yearn for transparent and credible elections comparable to those in other African democracies and insisted that foreign influence is unnecessary.

    “Other nations in Africa have moved ahead of us, such as Ghana, South Africa, and even Kenya. We are the giant of Africa; we shouldn’t be compared to countries that clamp down on freedoms during elections,” he said.

    Ubani emphasised that credible elections are a matter of national choice, not international pressure.

    “We don’t need Donald Trump or any external influence to do the right thing. If we truly want good governance, it doesn’t take anybody from outside. Let the people cast their votes and let the votes reflect the will of the people,” he said.

    Explaining the need for further amendments, Ubani said the implementation of the 2022 Electoral Act revealed several gaps, particularly in election litigation.

    He criticised the current requirement for petitioners to call witnesses from numerous polling units even when documentary evidence clearly establishes election results.

    “Imagine a situation where you still have to call witnesses from all polling units, whereas the law says if there is documentary evidence showing the result, that result should be used. Why must I call witnesses again when everything is already in black and white?” he queried.

    He lamented that many election petitions fail not on merit but on technical grounds. “Most times you lose an election, not because you didn’t win, but because of technicalities.

    “They tell you that you dumped documents on them and because of that they won’t consider your case,” he said.

    Ubani advocated reforms allowing documentary evidence to be tendered by a lawyer or a single collation officer without requiring witnesses from every polling unit.

    He also identified electronic transmission of results as the most critical reform to safeguard elections.

    “Once results are transmitted immediately from the polling unit, there will be no room for manipulation at collation centres,” he said, noting that real-time transmission would also strengthen judicial processes.

    The SAN called for sustained voter education, particularly on procedures like changing polling units. “People complain about movement on election day, but they don’t realize that you can change your polling unit online. I have done it myself and it worked,” he said.

    He also criticised the lack of awareness of the 2022 Electoral Act, noting that some judges relied on repealed provisions. Ubani promised to engage the media and judiciary correspondents once the amended Act is passed to explain its key provisions.

    On judicial reforms, he commended the adoption of virtual hearings but called for improved infrastructure and clearer legal provisions to address technical challenges.

    Regarding political ambition, Ubani said his plans are in God’s hands but emphasised the need for active participation in politics to drive meaningful change.

    He also advocated for greater inclusion of women in governance, proposing reserved legislative seats as a foundation for broader female leadership.

    On fiscal policy, Ubani defended the new tax law as protecting low-income earners while ensuring that the wealthy pay their fair share, adding that transparency in governance would encourage public trust and compliance.

    He stressed that with credible elections, legal reforms, and accountable leadership, Nigeria can rebuild confidence in its democratic system and reverse economic decline.

  • Tinubu has ended Southeast’s roads nightmare, says Umahi

    Tinubu has ended Southeast’s roads nightmare, says Umahi

    • Minister expresses satisfaction with contractors handling Enugu–Onitsha road

    Works Minister David Umahi has said President Bola Ahmed Tinubu has broken the jinx of failed road contracts in the Southeast.

    He also expressed satisfaction with the contractors handling the Enugu–Onitsha road for doing a good job.

    The minister spoke at the weekend as he unveiled tougher engineering standards, strict deadlines and new technology to secure highways across the region.

    He addressed reporters in Enugu after an extensive inspection tour of major federal road and bridge projects across the Southeast and the Southsouth regions.

    Umahi said the Federal Government had placed a nationwide ban on all forms of mining activities within a 10-kilometre radius of bridges, as part of measures to safeguard critical infrastructure and enhance safety on highways.

    The minister said the ban followed an approval of the Federal Executive Council (FEC), stressing that enforcement mechanisms, including water patrols, would be deployed to ensure compliance, particularly around major bridges.

    “In line with the Federal Executive Council’s directive, there will be no mining of any sort within a 10-kilometre radius of bridges nationwide.

    READ ALSO: Let the truth speak in the Bauchi EFCC case

    “We are deploying patrol boats, just like we have done at the Third Mainland Bridge, to monitor compliance,” he said.

    The minister also announced a comprehensive rollout of CCTV surveillance systems and solar-powered streetlights on federal highways, beginning with completed and critical corridors.

    According to him, the initiative —already implemented on the Second Niger Bridge and Third Mainland Bridge in Lagos — is aimed at improving road safety, preventing criminal activities, and ensuring rapid emergency response.

    “Our commitment to deploying CCTV and solar lighting is not limited to bridges alone. Any completed federal highway will have CCTV, solar lights, and dedicated security vehicles. Our response time to incidents will not exceed five minutes,” Umahi stated.

    The minister said two operational vehicles have been procured for the police, with a monthly maintenance support of N3 million provided by the ministry to patrol the Second Niger Bridge.

    He expressed satisfaction with the progress of the 17.5-kilometre eastern bypass of the Second Niger Bridge, being executed by China Civil Engineering Construction Corporation (CCCC) at a cost of about N179 billion.

    Umahi said about 30 per cent of the project funding had been released, with plans to increase it to 50 per cent.

    The minister announced that a part of the project is expected to be inaugurated on April 20.

    The bypass includes two bridges and two flyovers, which the minister described as “impressive and well executed”.

    Umahi described the beleaguered  Enugu–Onitsha expressway as a major intervention driven by President Tinubu’s commitment to the Southeast.

    The 107-kilometre dual carriageway project, initially awarded to MTN under a tax credit scheme, had suffered years of delay.

    The minister said the scope was recently reviewed due to inflation and exchange rate fluctuations.

    “This is a road previous governments abandoned for decades. It is the audacity and determination of President Bola Ahmed Tinubu that is ending this nightmare,” he said.

    Umahi stresssed that 15-kilometre and 18-kilometre sections of the road were being reconstructed with reinforced concrete, while the other less-damaged sections would be done with asphalt.

    According to him, the first 15-kilometre carriageway is expected to be completed within two weeks, alongside the installation of solar lights.

    The minister also announced a new policy prohibiting the removal of existing asphalt from federal roads.

    “No place in the country should remove asphalt from our roads again. We now have different treatments for different roads,” he said.

    Umahi explained that future designs would feature concrete shoulders on both sides, while carriageways would be strengthened using stone base, cement stabilisation, and improved asphalt layers.

    The minister also provided updates on the Enugu–Port Harcourt Expressway, confirming that 61 kilometres on the Enugu-bound lane and three kilometres on the Port Harcourt-bound lane have been fully completed.

    He assured the region that the corridor would be fixed before 2026.

    Umahi also spoke on the Enugu–Ebonyi road, saying the Federal Government was reconstructing the stretch beyond the section already dualised by the Enugu State government.

    The ₦180 billion project, the minister said, would be executed in phases: the first phase to be completed this year.

    He warned that the Federal Government would not accept underperforming contractors, particularly CGC, handling parts of the Second Niger Bridge bypasses.

    Umahi said the company would be given 60 days to improve performance or risk contract termination and possible recovery of funds through performance guarantees.

    The minister reaffirmed the Federal Government’s resolve to deliver durable, safe, and modern road infrastructure across the Southeast and across the country.

    Also, Umahi has expressed satisfaction with the quality and pace of work being carried out by MTN Nigeria and its contractors on the reconstruction of the Enugu–Onitsha Road.

    Umahi announced this while addressing reporters at the weekend after inspecting reconstruction works on major federal roads in the Southeast.

    These include the critical Enugu–Onitsha corridor, long regarded as one of the most problematic highways in the region.

    The minister said the renewed attention on the road was a direct result of the commitment and determination of President Tinubu to address long-neglected infrastructure in the Southeast.

    “The Enugu–Onitsha Road has been a nightmare for decades. Previous governments, up to eight of them, never worked on this road. What we are seeing today is due to the audacity, determination and love President Tinubu has for the people of the Southeast,” Umahi said.

    The minister noted that the 107-kilometre project was initially awarded to MTN Nigeria under the tax credit scheme at N202 billion, out of which works valued at about N50 billion had been executed before the current administration came on board.

    He stated that following the floating of the naira and removal of fuel subsidy, project costs escalated, necessitating a re-scoping of the work to fit within available funds.

    Umahi said MTN, working with subcontractors – Nigercat and RCC – is handling the adjusted scope of work.

    “We are satisfied with what they have done so far. Where we have objections, we have pointed them out, and they have agreed to make corrections,” the minister stated.

    He said April 28 has been set as the target completion date for the ongoing phase, adding that the remaining works cover about 72 kilometres spread across four sections.

    According to him, two of the most critical sections — measuring 15 kilometres and 18 kilometres — are being constructed with reinforced concrete.

    “In the next two weeks, the first 15 kilometres of the carriageway will be completed, with only the shoulders remaining. We have also directed that solar streetlights should be completed on the first five kilometres by next week,” Umahi said.

    The minister announced that the Federal Ministry of Works was considering SKC to install solar streetlights on the 107-kilometre stretch, excluding sections where the Anambra State government has provided lighting.

    He said the Enugu–Onitsha road project would be “a sight to behold” upon completion.

    Umahi also said all credit would go to President Tinubu for his administration’s commitment to ending decades of hardship faced by road users.

    “All the nightmares on that road will come to an end under President Tinubu. The Southeast should be grateful because what we have long expected has come to pass,” Umahi said.

    The minister applauded the performance of all contractors on site, including Nigercat, RCC, and SKC.

    He added that while asphalt would be used on less damaged sections, priority was being given to the worst portions of the road.

    “We count one before we count two. The most terrible sections must be fixed first before moving to the relatively better areas,” Umahi added.

  • Hashim: PDP will win next year despite legal intrigues

    Hashim: PDP will win next year despite legal intrigues

    A presidential aspirant on the platform of the Peoples Democratic Party (PDP), Dr. Gbenga Hashim, has said the party will win next year’s general election despite the legal tussle among its members.

    He said the PDP would dislodge the ruling All Progressives Congress (APC) from power in the general election.

    The businessman-turned politician insisted that no legal or administrative manoeuvers can derail Nigeria’s multiparty democracy.

    Hashim, a long-standing figure in Nigeria’s pro-democracy movement, alleged that the ruling APC is engaging in legal and institutional actions aimed at weakening opposition participation ahead of the next election cycle. He described the situation as part of a broader pattern that raises serious concerns about the future of democratic competition in the country.

    According to him, such developments mirror past attempts to undermine political pluralism in Nigeria.

    Hashim said such efforts were ultimately defeated by the collective will of the people.

    “We have travelled this road before under Abacha’s dictatorship and it ended in victory for the forces of genuine democracy, while the plotters of one-man rule were disgraced,” Hashim stated.

    The PDP chieftain reaffirmed Nigeria’s commitment to multiparty democracy, saying the nation’s founding fathers deliberately chose political pluralism at independence and embedded it in the country’s constitutional framework.

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    “Our founding fathers opted for multiparty democracy and, by the grace of God, that legacy will be preserved. No group, no matter how clever or determined, will succeed in destroying Nigeria’s democratic system, by the Grace of God,” he said.

    Hashim warned against any drift towards authoritarianism, drawing parallels with the political history of Zaire under the late Mobutu Sese Seko, where prolonged one-man rule eroded democratic institutions.

    “One-man rule or one-party rule will not happen here. This is Nigeria. We will not allow anyone to reduce our democracy to a tragic parody, as was the case with Zaire under Mobutu Sese Seko,” he added.

    The PDP chief also expressed concern over what he called selective administrative decisions in the political party registration process.

    Hashim alleged that while some qualified political associations have reportedly stalled in the process, others perceived to be aligned with the ruling party have received interim recognition.

    Describing these trends as warning signs of democratic backsliding, he urged fellow Nigerians and the international community to remain vigilant in defending democratic norms.

    Hashim urged “lovers of democracy across the world” to consider lawful and targeted accountability measures against individuals allegedly working to undermine Nigeria’s multiparty system.

    He noted that such measures, when supported by credible evidence and due process, could include travel restrictions and the freezing of assets.

    The PDP chieftain emphasised that his concerns extended to the conducts of political actors and institutions.

    He said democracy could only be safeguarded through transparency, accountability, and strict adherence to constitutional principles.

    Hashim expressed confidence that, despite current challenges, Nigerians would rise to defend democracy and remove the APC from power peacefully, constitutionally, and through the ballot in 2027. A presidential aspirant on the platform of the Peoples Democratic Party (PDP), Dr. Gbenga Hashim, has said the party will win next year’s general election despite the legal tussle among its members.

    He said the PDP would dislodge the ruling All Progressives Congress (APC) from power in the general election.

    The businessman-turned politician insisted that no legal or administrative manoeuvers can derail Nigeria’s multiparty democracy.

    Hashim, a long-standing figure in Nigeria’s pro-democracy movement, alleged that the ruling APC is engaging in legal and institutional actions aimed at weakening opposition participation ahead of the next election cycle. He described the situation as part of a broader pattern that raises serious concerns about the future of democratic competition in the country.

    According to him, such developments mirror past attempts to undermine political pluralism in Nigeria.

    Hashim said such efforts were ultimately defeated by the collective will of the people.

    “We have travelled this road before under Abacha’s dictatorship and it ended in victory for the forces of genuine democracy, while the plotters of one-man rule were disgraced,” Hashim stated.

    The PDP chieftain reaffirmed Nigeria’s commitment to multiparty democracy, saying the nation’s founding fathers deliberately chose political pluralism at independence and embedded it in the country’s constitutional framework.

    “Our founding fathers opted for multiparty democracy and, by the grace of God, that legacy will be preserved. No group, no matter how clever or determined, will succeed in destroying Nigeria’s democratic system, by the Grace of God,” he said.

    Hashim warned against any drift towards authoritarianism, drawing parallels with the political history of Zaire under the late Mobutu Sese Seko, where prolonged one-man rule eroded democratic institutions.

    “One-man rule or one-party rule will not happen here. This is Nigeria. We will not allow anyone to reduce our democracy to a tragic parody, as was the case with Zaire under Mobutu Sese Seko,” he added.

    The PDP chief also expressed concern over what he called selective administrative decisions in the political party registration process.

    Hashim alleged that while some qualified political associations have reportedly stalled in the process, others perceived to be aligned with the ruling party have received interim recognition.

    Describing these trends as warning signs of democratic backsliding, he urged fellow Nigerians and the international community to remain vigilant in defending democratic norms.

    Hashim urged “lovers of democracy across the world” to consider lawful and targeted accountability measures against individuals allegedly working to undermine Nigeria’s multiparty system.

    He noted that such measures, when supported by credible evidence and due process, could include travel restrictions and the freezing of assets.

    The PDP chieftain emphasised that his concerns extended to the conducts of political actors and institutions.

    He said democracy could only be safeguarded through transparency, accountability, and strict adherence to constitutional principles.

    Hashim expressed confidence that, despite current challenges, Nigerians would rise to defend democracy and remove the APC from power peacefully, constitutionally, and through the ballot in 2027.

  • N4.5b debt dispute: Bank accuses firm of court process abuse

    N4.5b debt dispute: Bank accuses firm of court process abuse

    Parallex Bank Limited has asked the Federal Capital Territory (FCT) High Court in Abuja to dismiss a suit filed against it by logistics firm FHT Mega Express Limited, describing the action as an abuse of court process, incompetent, and lacking jurisdiction.

    Justice Hauwa Lawal Gummi, on December 18, 2025, granted an ex-parte motion, issuing a temporary order freezing N7.154 billion in the bank’s account over a financial dispute between Parallex Bank and FHT Mega Express.

    In its preliminary objection, supported by an affidavit sworn by a manager, Mrs. Cynthia Akunaeziri, Parallex Bank highlighted that it had earlier filed Suit No: FHC/L/CS/1774/2025 before the Federal High Court, Lagos Judicial Division, against FHT Mega Express and four others.

    The suit, dated September 4, 2025, sought judgment of N4.5 billion, which is the firm’s outstanding indebtedness on certain Letters of Credit issued by the bank, and requested protection of the bank’s lien, as well as leave to dispose of the goods to satisfy the debt.

    Parallex Bank contended that instead of allowing the Lagos Federal High Court to determine the debt issue, FHT Mega Express engaged in various strategies aimed at harassing the bank and frustrating the recovery of the debt.

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    The bank argued that FHT deliberately concealed from the FCT High Court the existence of the earlier Lagos suit, which contained a subsisting order for the parties to maintain the status quo.

    The bank further alleged that FHT had previously attempted to secure a similar ex-parte order from the Lagos State High Court in Suit No: LD/ADR/6143/2025. However, Justice A.T. Muyideen refused the application, directing FHT to notify the bank instead.

    Following this, FHT discontinued the Lagos suit and filed the same action in the FCT High Court, intentionally suppressing material facts about the pending Lagos case and its failed attempt to obtain ex-parte relief.

    According to the bank, this misled the court into granting the ex-parte order, creating a risk of conflicting judgments from courts of coordinate jurisdiction.

    In its counter-affidavit, Parallex Bank affirmed that FHT deliberately commenced the FCT suit immediately after withdrawing the Lagos suit to re-litigate the same issues and seek ex-parte reliefs previously denied, amounting to a gross abuse of court process.

    The bank concluded that justice would be best served by dismissing the suit.

    The matter has been adjourned to February 4, 2026, for the hearing of the preliminary objection. Parallex Bank remains determined to recover the N4.5 billion owed by FHT Mega Express, which it claims the company continues to avoid paying through frivolous litigation.