The Nation Newspaper

Author: The Nation

  • Detty December: When festive concerts become luxury events

    Detty December: When festive concerts become luxury events

    The yuletide season in Lagos has always been one that every Nigerian resident in the country and diaspora look out for due to the shared excitement and familiar rush of watching their favorite artists perform live.

    However this December is different, the cost of entry has become a significant part of the conversation in a controversial manner.

    Until recently, regular tickets, which were relatively affordable while VIP and table reservations have traditionally been expensive.

    The sudden rise in general admission fees have left many fans questioning who live music is now meant for.

     Before now, regular tickets were sold between N20,000 and N30,000 but now the regular tickets skyrocketed to an all-time high – ranging from N120,000 to as high as N300,000. Reactions on social media and in casual conversations have largely been forged on frustration, shock, and resistance.

    As a matter of fact, many fans now pick just one event to attend stating that they can’t meet up with the financial requirements to attend more concerts while others have decided to stay away entirely.

    An X user said, “I will attend Olamide’s show, I know he will bring Fireboy, Wizkid and Asake to perform.”

    Another user said, “Asake 300k? 300k to stand, lol. All these artists are thinking we dey share money with bandit. Where person wan see 300k.”

    “It’s cheaper abroad and it’s costlier in the country that made you and gave you platform” another X user opined.

    The shift did not happen overnight. Over the past few years, Nigeria’s live music scene has expanded rapidly, with bigger stages, heavier production and increasing international attention. December, in particular, has become a peak period, as returning Nigerians abroad and foreign visitors boost demand for entertainment.

    Industry insiders point to rising production costs as a major factor behind the surge in ticket prices. Sound equipment, lighting rigs, stage design and technical personnel are increasingly sourced at dollar rates, while security, venue rentals and logistics continue to climb.

    For promoters, breaking even now requires a different pricing structure than in previous years.

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    A popular stage manager, Andrawine stated that the cost of setting up events has increased drastically which in turn reflects the prices of ticket sales.

    “Logistics is another huge factor. Moving equipment across cities or countries, freight costs, customs, power supply, generators, fuel, accommodation, rehearsals, and extended setup times all add up quickly. In places like Nigeria, where infrastructure can be unpredictable, production teams often have to create solutions from scratch, which further increases costs,” she said.

    Continuing, he said, “Security, insurance, venue fees, permits, and crowd control have also become more expensive, especially as concerts grow in scale and attendance. Safety is no longer optional, it’s a priority, and rightly so. When you combine all these factors, promoters are left with limited options. To break even or make a profit while still delivering a high-quality experience, ticket prices inevitably go up.

    “So yes, rising ticket prices aren’t just about the artist’s popularity; they reflect the real cost of delivering a world-class production safely, professionally, and at scale.”

    While these points by Andrawine may sound reasonable, fans argue that the jump in regular ticket prices are not. Many believe that the Detty December experience is slowly becoming a luxury only a few can afford rather than mass entertainment.

    “How much be minimum wage? Civil servant no fit branch this kind place but politician’s kids can buy thousands of tickets,” said a self confessed concert attendee via X.

    Another X user, Maxpower, weighed in on the conversation saying,”Okay so let me understand something, after I have streamed all their songs and have made them serious money online I will still pay 300k to stand wey leg go dey pain me de look you dey perform the same song. All the money una don dey make una no fit use am subsidize show?”

    In the same vein, Collins wrote, “Can someone actually explain to me how we went from 5k tickets to 300k.”

    The situation seems to have also affected how audiences discuss attending concerts. Smaller shows and club performances appear to be gaining renewed interest, as fans look for more affordable alternatives.

    For some artists, they didn’t come up with the prices of tickets as investigations revealed that the event organizers are responsible for the pricing. Although the artists also charge the organizers some exorbitant prices which runs into multi million Naira which in turn reflects on the tickets.

    Live music has long been a shared experience, cutting across age, income and social status. As prices climb, there is concern that concerts – especially during the famed Detty December – may become exclusive spaces, accessible mainly to a narrow segment of society.

    Industry observers believe that the December rush itself plays a key role in the increase of ticket prices citing multiple high-profile concerts packed into a short period, demand often outstrips supply, giving organizers room to raise prices.

    However, some promoters believe the market will eventually correct itself if audiences begin to resist high prices consistently, pricing strategies may adjust. Others argue that the industry is simply responding to the reality of the country’s economy.

    The excitement of the season remains but the urge to attend concerts has drastically reduced due to the ridiculous amount required to access concert venues.

    While concerts remain a major part of Nigeria’s cultural calendar, this year’s ticket prices have introduced a new layer to the experience, one that forces both organizers and audiences to rethink the value of concerts.

    As the season gradually exits, it is now more obvious that Detty December concerts are no longer just about the music and festivities, they have become a reflection of broader economic pressures and shifting cultural priorities, raising the question of whether shows can still remain accessible while meeting the demands of a growing industry.

  • St Ives holds Xmas/End of year party

    St Ives holds Xmas/End of year party

    One of Nigeria’s leading fertility and family hospital brands, St. Ives Hospital, recently held the 2025 Christmas and End of the Year party to the delight of staff and clients on Sunday, December 14, 2025 at the Rotary Hall, GRA, Ikeja.

    The staff members, management and the invited guests were all gaily attired in eye-catching African royalty outfits that lit up the venue of the soiree.

    The event commenced at 2PM and brought together staff members from all branches, management, and the Board of Directors in a grand celebration of excellence, unity, and cultural pride.

    The well attended event kicked off with an opening prayer, setting a tone of gratitude and reflection for a year marked by growth, dedication, and impactful healthcare delivery. The Master of Ceremonies kept guests entertained throughout the event, leading interactive games and activities that fostered laughter, bonding, and relaxation among staff and distinguished guests.

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    Each branch of the hospital participated in festive presentations, including Christmas carols, drama, and spoken-word performances. These presentations showcased creativity, teamwork, and the shared values that define the St. Ives culture. The entertainment segment was filled with lively performances that kept the atmosphere energetic and celebratory.

    An exciting raffle draw segment followed, where lucky attendees won gifts through randomly selected numbers, adding suspense and excitement to the celebration.

    A major highlight of the event was the Awards and Recognition segment, which saw a total of 20 exceptional staff members – from administrative and clinical departments – honoured for their commitment, professionalism, and outstanding contributions. Awards were presented across both Administrative and Clinical categories.

  • Federal lawmakers unveil Tax Laws

    Federal lawmakers unveil Tax Laws

    The implementation of new tax laws commenced yesterday on a clearer and more transparent footing.

    The National Assembly directed the release of Certified True Copies (CTCs) of the harmonised bills that were transmitted by lawmakers and assented to by President Bola Ahmed Tinubu.

    This move is aimed at ensuring full public access to the documents and allaying concerns about the authenticity of the recently passed Tax Acts.

    The Clerk to the National Assembly, Kamoru Ogunlana, stated that interested members of the public would now be able to access the transmitted bills, which have been signed by President Tinubu, for independent verification.

    In a statement, Ogunlana said the directive was in line with the Assembly’s commitment to transparency and accountability, particularly in response to public debate and scrutiny over the new tax reforms.

    “The leadership has directed the Clerk to make available the transmitted Tax Bills duly signed by the President, including the certified pages, to enable members of the public independently verify the facts,” Ogunlana said.

    He explained that the decision was taken following allegations of discrepancies between the Votes and Proceedings of the National Assembly and the gazetted versions of the Tax Acts currently in circulation.

    Despite the intense public discussion generated by the new tax reforms, Ogunlana noted that only a limited number of Nigerians had formally requested CTCs of the harmonised bills.

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    “Only a few requests for Certified True Copies of the harmonised Bills have been received, and all such requests have been duly processed,” he said.

    Ogunlana further explained that interested persons could still apply to the Office of the Clerk to the National Assembly upon payment of the prescribed fees.

    He emphasised that the office of the Clerk was working closely with the Federal Government Printing Press (FGPP) to ensure the timely publication of the duly certified and assented laws.

    Ogunlana said the gazetted copies were expected to be ready by yesterday.

    “While the Clerk initiates the gazetting process, the statutory responsibility for printing and publication rests with the Federal Government Printing Press,” Ogunlana stated.

    In the statement, signed on his behalf by the Director of Information, Bullah Audu Bi-Allah, Ogunlana said the National Assembly has introduced new procedural safeguards aimed at preventing future controversies over legislative documents.

    He noted: “To strengthen institutional processes, all Bills for presidential assent will henceforth be routed through Presidential Liaison Officers.

    “No request for gazetting an Act will be entertained by the Printing Press unless initiated by the Clerk to the National Assembly or an authorised representative.”

    He reassured the public that the National Assembly remains committed to transparency, accountability, and professionalism in the discharge of its constitutional responsibilities.

    CAN: economic decisions must not worsen hardship

    The move comes as the Christian Association of Nigeria (CAN) called on the Federal Government to exercise wisdom, fairness, and restraint in implementing economic policies.

    CAN President, Archbishop Daniel Okoh, emphasised in his New Year message that economic decisions must not exacerbate hardship for citizens already struggling to make ends meet.

    “As fiscal, tax, and other policy reforms continue, CAN calls for wisdom, fairness, and restraint.

    “As the nation continues to speak about reforms, recovery, and growth, CAN affirms that progress must translate into lived realities.

    “Economic advancement must be evident in the daily lives of citizens – when food is affordable, healthcare is accessible, education is attainable, and meaningful work is available. Development that does not touch ordinary lives remains incomplete,” Okoh said.

    ‘Effective taxation not a burden’

    Former President of the Chartered Institute of Taxation of Nigeria (CITN), Mrs Gladys Simplice, urged Nigerians to embrace the new tax regime.

    She blamed opposition to the reforms on wealthy individuals resisting higher tax compliance.

    Simplice said the biggest challenge confronting the reforms was not the law itself but a “mindset issue” among taxpayers.

    She stressed that Nigerians must begin to see taxation as a civic responsibility rather than a burden.

    According to her, sustainable national development depends largely on efficient tax collection.

    “Taxes are what build nations. We cannot continue to complain about poor infrastructure and still resist the very instrument used to fix it,” Simplice said.

    Highlighting the progressive nature of the reforms, she noted that low-income earners would benefit substantially, correcting historical inequities in Nigeria’s tax system.

    “The reforms represent a major shift in the nation’s tax system by protecting low-income earners, who have historically carried a disproportionate share of the tax burden,” she said.

    Simplice noted that globally, taxation is recognised as a key driver of development.

    In Nigeria, however, the loudest criticism, she believes, comes from high-income earners who fear that the new laws will compel them to pay their true tax obligations.

    “High-income earners are instigating others to attack the law because it will affect them.

    “They have been avoiding their obligations for decades,” Simplice told the News Agency of Nigeria (NAN).

    She emphasised that the reforms were long overdue and designed to promote fairness, support small businesses, and ease the burden on low-income Nigerians.

    Under the new framework, individuals earning up to N300,000 annually are exempt from tax; small businesses with turnovers below N100 million will no longer face multiple taxation.

    According to Simplice, this approach ensures equity and encourages compliance across all income levels.

    She also highlighted the introduction of a self-assessment system, noting that improved data integration across federal and state governments would expose under-declaration.

    “There is no hiding place anymore. You can assess yourself, but the government will still verify,” she said, citing Lagos State’s rollout of synchronised taxpayer identification numbers as a practical example of improved enforcement.

    She urged Nigerians to give the reforms time to yield results, acknowledging that resistance to change is common but typically subsides once benefits become apparent.

    AI tool launched

    A technology expert, Oluwaferanmi Oladepo, has launched Kaanta, an Artificial Intelligence-driven tool designed to simplify the new tax reforms.

    Kaanta, which operates entirely on WhatsApp, guides traders, small and medium-sized businesses, professionals, and individuals, helping them understand compliance requirements, calculate taxes, and access reliefs.

    Oladepo said the AI tool allows users to interact via text, voice, or handwritten notes and supports local languages, including Yoruba, Igbo, Hausa, and Pidgin, expanding access to non-English speakers.

    He stressed that Kaanta AI would play a critical role in helping Nigerians navigate the new tax era efficiently.

  • FirstBank successfully completes N500b capital raise

    FirstBank successfully completes N500b capital raise

    • Tinubu’s deep understanding of the Nigerian economy shows in recent growth, says Otedola
    • Canvasses CBN to raise Banks’ Capital to N1tr
    • Cardoso: Best CBN Governor ever

    As someone who has spent over three decades investing, building businesses, and navigating Nigeria’s economic cycles, I rarely comment publicly on policy. But there are moments when leadership must be acknowledged.

    President Bola Ahmed Tinubu has shown remarkable courage and clarity in steering our country through difficult but necessary reforms. His bold sense of direction, guided by a deep understanding of our economy, has created the foundation for policies that are now being recognised across the world. I have seen many administrations, but his conviction at this critical time deserves commendation.

    In that same spirit of boldness, the Central Bank Governor, Mr. Yemi Cardoso, has been nothing short of exceptional. The slowdown in the rate of inflation is proof of his disciplined return to orthodox monetary policy. This is not theory; these are real results, visible in the gradual easing of pressure on households and businesses. I appreciate this because I know, from experience, how damaging policy inconsistency can be.

    His reforms in the foreign exchange market have restored confidence that had long been missing. For the first time in years, the naira is strengthening on the back of market forces not artificial fixes. To me, this is the most powerful signal that we are finally doing things the right way. The fact that our external reserves have climbed to a seven-year high above $46 billion is further evidence of his steady hand.

    I am also impressed by the bold decision to recapitalize the banking sector. Some people criticised it early on, unnecessarily in my view, but today it is clear it was the right move. Following the massive profits banks recorded in 2024, 2025 has rightly become a year of prudence and consolidation. This is the only way banks can support real sector lending and drive genuine economic growth next year.

    From where I stand, and with the benefit of many years in Nigeria’s business landscape, I believe it is time to raise the minimum capital requirement for international banking licences from N500 billion to at least N1 trillion. A modern economy aiming for the $1 trillion mark cannot rely on weakly capitalised banks. Stronger banks mean better governance, broader ownership, and institutions that are not run like personal estates, a problem we have lived with for far too long.

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    FirstBank, the commercial banking arm of First HoldCo Plc, has met the N500 billion minimum capital base required by the Central Bank of Nigeria (CBN) for an international banking licence. The shareholders of FirstHoldco are committed to injecting additional capital into its existing subsidiaries and new business adjacencies.

    I say this without hesitation: Yemi Cardoso is the best Central Bank Governor Nigeria has ever produced. His calmness, discipline, and unwavering focus on doing what is right, not what is easy, reminds me of the kind of leadership any serious economy needs.

    I encourage him to continue on this path. Nigeria is turning a corner, and those of us who believe in this country will continue to support the bold monetary reforms that are laying a stronger foundation for our future.

  • First Lady welcomes five New Year babies

    First Lady welcomes five New Year babies

    First Lady Oluremi Tinubu yesterday urged fellow citizens to embrace generosity as a pathway to attracting abundant blessings.

    She said intentional generosity towards the less privileged should become a way of life in the New Year.

    Addressing reporters after receiving the first babies of 2026 at the Federal Medical Centre (FMC) at Jabi in Abuja, the First Lady said giving is a powerful principle that attracts blessings, prosperity, and growth.

    “Make sure you are generous. This year, I tell people: if you want money, you have to sow money in the lives of the less privileged. Sow money. Whatever you sow, you will receive. If you like to give clothes to people, you’ll receive abundant clothes. You can’t sow corn and receive corn. Be generous; it’s a year of generosity. Our giving should be intentional,” she said.

    Mrs. Tinubu, who was accompanied by the wife of the Vice President, Hajiya Nana Shettima; the Minister of Women Affairs, Imaan Suleiman-Ibrahim; and the Minister of State for the Federal Capital Territory (FCT), Mariya Mahmoud, said she received five newborns yesterday at the hospital.

    The babies included the first baby of the year, a female infant delivered at exactly midnight by a 26-year-old first-time mother, Patience Adakole; a set of triplets (two boys and a girl) delivered by Blessing Oragwu after 13 years of waiting, and another baby boy.

    “I welcomed five in total: the baby of the year, a girl, and then the triplets, the mother has waited for 13 years, which is wonderful; and another baby boy,” the First Lady said.

    Read Also: Zamfara: First Lady gifts 250 senior citizens N200,000 each  

    She described the moment as deeply fulfilling for her.

    Drawing from cultural symbolism, Mrs. Tinubu expressed optimism that Nigeria will be blessed this year.

    “In Yoruba land, when you have girls, they will say they come with ease. So, we believe that this year is going to be a great year for us as a nation: peace in abundance, prosperity in abundance,” she said.

    Reflecting on the peaceful passage of the country into the New Year, Mrs. Tinubu added: “I’m excited because last year was something else. All of us who made it to the New Year should be thankful. There were so many deaths that we shouldn’t even think about. We thank God for His mercy and we believe that this year will be a blessed year for us.”

    Also, the Chairman of the National Population Commission (NPC), Aminu Yusuf, stated that birth registration is important to keeping an accurate national data and a critical legal identity for every child.

    “It becomes a legal document that the child will be proud of by the time he grows. It gives the child access to education, health, and whatever you can think of,” Yusuf said.

    The NPC chairman announced plans to decentralise the New Year birth registration across the country.

    “By next year, similar activities should be replicated in all the states. We want people to be aware of the importance of registration. First ladies visit hospitals, but we want them to carry along our staff so the process is institutionalised,” he said.

    NPC’s Director-General, Telson Osifo Ojogun, said the commission’s role is primarily data-driven.

    “The National Population Commission does not directly manage population; we manage the data that informs how other ministries and stakeholders manage population,” Ojogun stated.

  • Federal Govt unveils growth acceleration strategy to boost jobs, investments in 2026

    Federal Govt unveils growth acceleration strategy to boost jobs, investments in 2026

    The Federal Government yesterday unveiled a major fiscal blueprint aimed at accelerating economic growth, mobilise investments and create more jobs this year, in a concerted effort to stimulate rapid economic development.

    The strategy document indicated that the government would focus on key policies and priorities as the President Bola Ahmed Tinubu’s administration advances into the second wave of reforms focused squarely on unleashing accelerated economic growth, productivity, and capital formation.

    Minister of State for Finance, Dr. Doris Uzoka-Anite, in a statement yesterday, said the Federal Ministry of Finance (FMF) would be the anchor for the comprehensive Growth Acceleration and Investment Mobilization Strategy aimed at strengthening macroeconomic stability, and positioning Nigeria as a premier destination for long-term foreign direct investment (FDI).

    According to her, in 2026, Nigeria’s economy will enter a transition phase from stabilization to expansion as the government focuses on scaling output, deepening domestic value creation, and placing the economy on a credible path toward a $1 trillion Gross Domestic Product (GDP) by 2036.

    She highlighted that the $1 trillion economy target would be achieved by building an open, export-oriented economy with strong domestic aggregate demand while also domesticating key supply chains to use raw materials, a workforce, and intellectual property sourced competitively from Nigeria in line with the Nigeria First Policy launched by President Tinubu

    She said: “Our focus is to move decisively from stabilization to growth. The reforms underway are designed to lower risk, unlock private capital, and ensure that Nigeria delivers sustainable returns for investors while expanding opportunity for our citizens”.

    She outlined that the 2026 economic resurgence strategy was anchored on three principles critical to investor confidence including macroeconomic predictability, clear sectoral investment pathways and disciplined policy execution.

    According to her, the strategy prioritises a stable and transparent economic environment where inflation, exchange rates, and fiscal policies are consistent enough to reduce uncertainty for investors and businesses as well as a well-defined priority sectors with articulated strategies, incentives, and regulations that guide investors on where and how to deploy capital effectively.

    She added that additional focus would be on consistent and timely implementation of policies as designed, without abrupt reversals or weak enforcement, to build credibility and trust.

    She explained that key policy and investment priorities for 2026 would include policy coordination to anchor stability and lower risk premiums, sector-led growth strategy to unlock private capital, capital formation, increase access to finance and financial inclusion and strategic role of development finance institutions (DFIs).

    She said: “Federal Ministry of Finance (FMF) will maintain close, institutionalized coordination with the Central Bank of Nigeria (CBN) to support disinflation, exchange rate stability, and orderly credit conditions. Fiscal and monetary alignment will remain central to reducing macroeconomic volatility and restoring Nigeria’s investment-grade fundamentals over the medium term. FMF accepts as a baseline the macroeconomic forecast published by CBN on December 30, 2025, regarding the Nigeria Economy Outlook.

    “The government’s objective is to lower inflation expectations, compress sovereign risk premiums, and reduce the cost of capital for both public and private investment. The coordinated approach is entailed in the Disinflation and Growth Acceleration Strategy (DGAS) document co-sponsored by the CBN, the Federal Ministry of Finance and the FIRS (now NRS)

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    “Nigeria will pursue a sector driven growth model that combines export expansion with rising domestic demand. Our work will focus on dismantling various barriers to growth and infusing a “willing buyer- willing seller” philosophy in sectoral policy frameworks and regulations. Price controls and restraints on volume or market access will be stripped away to enable the full potential of these sectors to emerge, and entrepreneurial capital to flourish. Priority sectors are catalytic anchors which include energy and gas-based industrialization, including associated infrastructure, agribusiness and food value chains, manufacturing and light industry, housing and urban infrastructure, healthcare and life sciences, digital services and technology-enabled trade, creative and tourism industry, logistics networks and distribution infrastructure to enable export trade and solid minerals and critical metals.

    “Federal ministries, states, and development partners will align around a common investment thesis: policy clarity, bankable projects, and rapid removal of regulatory barriers. Sector-specific working groups will fast-track reforms and investment pipelines capable of absorbing large-scale domestic and foreign capital. For example, in partnership with key stakeholders, public and private, Nigeria will work to rebuild its cocoa growing, processing and export capabilities, allowing us to sharply boost non-oil commodity income while meeting end market requirements e.g., European Union rules over the coming years.

    “The Federal Government will advance targeted reforms to deepen Nigeria’s capital and insurance markets as engines of long-term investment and risk mitigation. Priority actions include expanding long-tenor local currency instruments, improving market liquidity and transparency, and strengthening investor protections to support infrastructure, housing, and productive sector financing. Emphasis will also be placed on expanding retail capital mobilization via growth in investment accounts to both draw in capital and ensure citizens participate in market upsides we anticipate will emerge. Regulatory reforms will encourage greater participation by pension funds, insurance companies, and institutional investors in capital markets.

    “In parallel, insurance market reforms will focus on recapitalization, improved supervision, and expanded coverage to better manage economic and climate-related risks. A stronger insurance sector will enhance creditworthiness, reduce project risk, and improve the overall investment climate by providing reliable risk transfer mechanisms for domestic and foreign investors.

    “Capital formation is central to Nigeria’s growth acceleration strategy and its ability to achieve the desired GDP growth in 2026. The Federal Government’s approach is focused on expanding the supply of long-term, patient capital, reducing investment risk, and ensuring efficient allocation to productive sectors of the economy. Also, deploying blended finance instruments, credit enhancements, and first-loss capital working in partnership with bilateral and multilateral development finance institutions to lower project risk and improve bankability. These mechanisms are designed to crowd in domestic institutional investors and foreign direct investment by aligning public capital with private return expectations.

    “To ensure that growth is broad-based and that capital reaches the last mile of the economy, the Federal Government will prioritize the expansion of consumer credit and financial inclusion as a core pillar of its growth strategy. Deepening access to affordable credit for households, microenterprises, and informal sector participants will support domestic demand, improve productivity, and translate macroeconomic reforms into tangible welfare gains.

    “We will deepen product design, regulatory and go to market partnerships with CBN, commercial banks, microfinance institutions, fintechs, and credit guarantee schemes. That will enable the market to deploy innovative, targeted risk-sharing instruments, wholesale funding lines, and digital credit infrastructure to expand responsible consumer lending on an industrial scale. Emphasis will be placed on enabling, qualifying and supporting responsible use of credit among first-time borrowers, women- and youth-led enterprises, and underserved communities. In partnership with well-regulated market participants, we will seek to build a non-inflationary, repayable rising tide.

    “The Federal Ministry of Finance will take over the development finance quasi-fiscal responsibility of the CBN and will develop a comprehensive guideline for implementing a “go forward” development finance strategy. Development Finance Institutions (DFIs) will play a critical and catalytic role in the successful execution of Nigeria’s Growth Acceleration and Investment Mobilization Strategy.

    “Given the scale of Nigeria’s growth ambition and the need to crowd in long-term, patient capital estimated at  N246 trillion through 2036, the Federal Government recognizes DFIs as essential partners in de-risking priority sectors, anchoring private sector investor confidence, and mobilizing large volumes of private capital at scale.

    “DFIs bring a unique combination of long-tenor financing, concessional instruments, technical expertise, and risk-sharing capacity that is critical to unlocking investment in sectors where market failures persist despite strong fundamentals. These include infrastructure, energy transition, agribusiness value chains, healthcare, climate-resilient industries, and digital public infrastructure.

    “Strengthening Nigeria’s domestic development financial institutions will signal the country’s capacity and seriousness to investors. Domestic DFIs, including Bank of Industry (BOI) and Nigerian Export-Import Bank (NEXIM), will anchor financing and risk sharing frameworks across priority sectors and act as policy execution tools”.

    She outlined that in order to support fiscal sustainability without distorting growth, the government would strengthen non-oil revenue performance through improved compliance, digital revenue systems, and enhanced transparency across federal agencies.

    According to her, the Ministry of Finance would continue to review efforts to boost revenue generation in 2026 from a mix of sources.

    She said: “We are optimistic that with the new Federal Tax Laws, effective as of January 1, 2026, royalties, taxes, tariffs, fees, and related line items will be vigorously collected and remitted to the Treasury Single Account.

    “Enabling this effort will be the new federal Revenue Optimization Platform (RevOps) which will be rolled out across the federation and MDAs starting January 1, 2026. The system integrates across all revenue generating, and related mechanisms of the FGN. Integrated into RevOps platform are additional instruments such as the use of Electronic Receipts, which will now become the sole acceptable proof of payment for all federal services and products. From railway tickets to birth certificates to customs duties, only the electronic receipt template is legal as of January 1, 2026.  As such, FMF expects sharper visibility on daily revenue collection, uses of cash, and overall effectiveness in managing federal resources.

    “For better oil and gas revenue assurance and fiscal transparency, we will deepen our coordination with NNPC and NUPRC/NMDPRA to strengthen revenue mobilization, transparency and fiscal accountability across the oil and gas value chain. This collaboration will be anchored on a clear institutional framework that respects the autonomy of NNPC Ltd and the regulatory independence of NUPRC/NMDPRA, while reinforcing the FMF’s role as fiscal owner responsible for revenue assurance, cash visibility, and remittance discipline. FMF will also work with the line MDAs to review key constraints to further growth in oil and gas, including pricing and domestic supply obligations that are acting as restraints to capital expansion in gas supply. The fundamental principle of “willing buyer / willing seller” will guide our deliberations and policy stance”.

    She outlined that beginning in early 2026, the government would intensify engagement with domestic and international investors, Development Finance Institutions, and multilateral partners through structured investment dialogues, co-financing platforms, and sector-specific initiatives.

    She said: “The private sector, domestic and global, will be at the heart of our transformation; government’s role is to catalyze and solve problems.

    “To deepen investor confidence, improve transparency, and ensure sustained engagement with domestic and international capital providers, the Federal Government will establish a central investor desk housed within FMF. This will serve as a single and coordinated interface between the government, existing and prospective investors, DFIs, credit rating agencies and market analysts. The core function will be to ensure consistent communication, timely disclosure and proactive engagement around the country’s macroeconomic outlook, policy reforms, investment priorities and execution progress.

    “These engagements will focus on building robust investment pipelines, deploying blended finance solutions, and accelerating the execution of bankable projects across priority sectors.

    “That desk will also coordinate closely with the DGAS team that is implementing our central investment thesis to build a private sector-led economy. We will operationalize DGAS implementation and launch the development finance strategy with the CBN and other partners in Q1 2026, to give greater clarity to the policy implementation pathways.

    “This administration understands that leadership is measured by courage to reform and capacity to deliver results. Under the leadership of President Bola Ahmed Tinubu, Nigeria has chosen the path of difficult but necessary reforms to secure lasting economic stability and shared prosperity. In line with the Renewed Hope Agenda, these reforms are not ends in themselves, they are tools to expand opportunity, restore confidence, and improve the everyday lives of Nigerians. As investment is mobilized, jobs created, and growth broad-based, the Government remains accountable to the Nigerian people, confident that consistent delivery, transparent governance, and inclusive progress are the true foundations of democratic trust. This is the work of renewal, and it is being pursued with resolve, discipline, and an unwavering commitment to Nigeria’s future”.

  • Mbah promises accelerated consolidation

    Mbah promises accelerated consolidation

    Enugu State Governor Peter Mbah has said there will be no room for complacency by officials of his government.

    He promised accelerated consolidation of the gains made in the past two and a half years.

    Mbah also described 2026 as a year of quantum leap for the people of Enugu State, maintaining that “our optimism is not abstract, but grounded in the concrete work we have done.”

    The governor gave the assurances in his New Year message.

    He urged optimism and unity on the part of the people and the nation.

    Read Also: W’Cup 2026: NFF begs Tinubu, Nigerians over  Super Eagles’ setback

    While recalling his administration’s successes in the revival of moribund assets, transformation of the transport system as well as the water sector, security, road and tourism infrastructure, educational and agricultural sectors, and the surge of investment and visitors to Enugu, Mbah acknowledged that “it is far easier to rise than it is to remain standing.”

    “That is why this year demands more of us than the years before. 2026 is not a victory lap. It is a humble continuation of a journey that is nowhere near finished.

    “What we have begun is not fleeting – it must now be secured for generations. We have to build well, not quickly for applause, but carefully for posterity.

    “And above all, we must resist complacency. Success can seduce us into comfort. Comfort slows our steps. And when steps slow, progress slips away,” he emphasised.

  • Keyamo, ADC spokesman lock horns over zoning of presidency

    Keyamo, ADC spokesman lock horns over zoning of presidency

    A sharp political exchange erupted yesterday between the Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), and the spokesman of the African Democratic Congress (ADC), Bolaji Abdullahi, over zoning of the presidency ahead of the 2027 general election.

    The debate was triggered by a post by Keyamo on X (formerly Twitter), in which he accused the ADC of deliberately avoiding a clear position on zoning its presidential ticket to protect the ambition of former Vice President Atiku Abubakar.

    “There is no hiding place for the opposition, just like there is no hiding place for the ruling party. Let the neck-pressing continue without letup,” Keyamo wrote.

    According to the minister, the ADC’s reluctance to zone its ticket mirrors what he described as the Peoples Democratic Party’s (PDP) “fatal mistake” in the 2023 election.

    Keyamo said: “The ADC is scared to clearly zone its Presidential ticket, like the other major parties (PDP and APC) have done, because the party belongs to one man called Atiku Abubakar.

    “It is the exact corner that Atiku pushed PDP to in 2023 that ADC now finds itself.”

    Keyamo argued that in a “highly sensitive country like Nigeria,” any party with national ambition must be explicit about zoning, insisting that the All Progressives Congress (APC) triumphed in 2023 because it zoned its ticket to the South.

    He further accused Atiku of attempting to “camouflage with Peter Obi” to attract votes from the Southeast and the Southsouth, warning that such a strategy would damage national unity.

    He said: “Atiku wants to surreptitiously secure votes and become President on a flawed template that will damage our fragile unity as a nation,” adding that Obi’s alleged cooperation was driven by “selfish reasons” linked to a vice-presidential ambition.

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    “Commiserations to the naive Obi supporters who are being led into a dead end by wily, old war horses in politics,” Keyamo added.

    In a rebuttal, Abdullahi accused the minister of selective memory and double standards, particularly regarding APC’s own history with zoning.

    He recalled the 2015 post-election crisis over the Senate presidency, noting that APC leaders initially zoned the position to the North-Central but reversed the decision when Bukola Saraki appeared likely to emerge.

    Abdullahi said: “At that point, the ACN bloc, led by Baba Akande and Asiwaju Bola Tinubu, argued that zoning was a PDP thing and alien to progressive politics,” adding that this argument was used to back Ahmed Lawan from the Northeast.

    Abdullahi argued that APC’s presidential primaries over the years weakened the claim of strict zoning, pointing out that the 2015 contest was open to aspirants from different regions, including Rochas Okorocha, Muhammadu Buhari, Rabiu Kwankwaso, Atiku Abubakar and Sam Nda-Isaiah.

    On national unity, he said zoning could not be separated from religious balancing, accusing APC of ignoring that factor when it fielded a Muslim-Muslim ticket in 2023.

    “APC put a knife to this fragile rope of national unity when it settled for a same-faith ticket,” he said.

    Describing Keyamo’s sudden focus on the ADC as curious, Abdullahi said the party was building a “winning coalition” and stressed that no final decision had been taken on zoning or candidates.

    “When we do decide, it will be based on a clear strategy to win the election,” he said, while rejecting claims that the ADC was organised around Atiku’s ambition.

    Keyamo, however, doubled down in a further response, arguing that Nigeria’s zoning principle was shaped by painful national experiences, particularly following the death of President Umaru Musa Yar’Adua in 2010.

    He said former President Goodluck Jonathan’s decision to run in 2015, contrary to zoning expectations, cost him the election.

    “This means any major political party that does not respect the zoning formula is doomed to fail at the polls,” Keyamo said, predicting a similar fate for the ADC in 2027.

    Defending APC’s record, he insisted the party had always been clear on zoning, citing decisions to zone to the North in 2015 and to the South in 2023, while dismissing religious considerations as secondary to regional balancing under the constitution.

    Despite the sharp exchanges, Keyamo commended Abdullahi’s tone, describing it as measured and cerebral.

  • Anthony Joshua’s driver to face charges

    Anthony Joshua’s driver to face charges

    The driver of the Lexus SUV involved in the fatal road accident that claimed the lives of two close associates of former heavyweight boxing champion, Anthony Joshua, has been taken into custody by the Ogun State Police Command and is expected to face charges.

    Police Public Relations Officer (PPRO) in Ogun State, Oluseyi Babaseyi, a Deputy Superintendent of Police (DSP), confirmed the arrest yesterday, stating that investigations into the crash were ongoing.

    The accident occurred on December 29 along the Makun corridor of the Lagos-Ibadan Expressway, when the SUV conveying Joshua and members of his team rammed into a stationary truck.

    Two of Joshua’s associates – his personal trainer, Kevin Latif Ayodele, and strength and conditioning coach, Sina Ghami – died on the spot.

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    The Federal Road Safety Corps (FRSC) attributed the accident to excessive speed and wrongful overtaking.

    The driver sustained minor injuries and was initially treated at a Lagos-based private hospital before being discharged and transferred to Abeokuta for police questioning.

    He has provided a statement and may be charged with reckless driving, pending the conclusion of investigations.

    Joshua also sustained minor injuries and was discharged from Lagoon Hospital, Ikoyi, late Wednesday after doctors confirmed he was clinically fit to recuperate at home.

    He was later seen with his mother at a Lagos funeral home to pay last respects to the deceased ahead of the repatriation of their remains to the United Kingdom.

  • Tinubu eulogises Eze Ikonne on 97th birthday, 52 years on throne

    Tinubu eulogises Eze Ikonne on 97th birthday, 52 years on throne

    • President felicitates journalist, academic Adeniyi at 60, Bala-Usman at 50

    President Bola Ahmed Tinubu has congratulated His Majesty Eze Isaac Ikonne, Enyi I of Aba, on his 97th birthday and the 52nd anniversary of his ascension to the throne.

    In a statement yesterday in Abuja by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, the President extolled the long-reigning monarch’s decades of service to his people and the nation, describing him as a symbol of stability and continuity in traditional leadership.

    President Tinubu noted that Eze Ikonne, a former Chairman of the Abia State Council of Traditional Rulers, has remained a respected voice of wisdom and moderation throughout his reign, contributing significantly to peace and social cohesion in his domain and beyond.

    Saluting the first-class monarch, the President said Eze Ikonne is “not only the custodian of the culture and traditions of the people of Aba but also an anchor for peace, unity, and progress in the nation”.

    The President also acknowledged the monarch’s family, saying Eze Ikonne is the father of Prince Paul Ikonne, a former chief executive of the National Agricultural Land Development Authority (NALDA).

    President Tinubu joined the Ikonne family, as well as the people and government of Abia State, in celebrating the traditional ruler on the dual milestone, praying for his continued strength and longevity.

    He wished the monarch “many years of good health,” expressing hope for “more years of peace and progress” in his kingdom.

    President Tinubu described the occasion as a moment to honour a life devoted to service, leadership and the preservation of cherished cultural values.

    Also, the President has congratulated a renowned academic and veteran journalist, Prof. Abiodun Adeniyi, on his 60th birthday.

    The President applauded his enduring impact on scholarship, public discourse and media practice in Nigeria.

    In another statement yesterday in Abuja by Onanuga, the President described Professor Adeniyi as an accomplished scholar whose career has successfully bridged academia and professional journalism.

    Read Also: Tinubu felicitates Saleh Ahmadu on birthday, hails service to nation

    Adeniyi is a professor of communication and the current Registrar of Baze University, Abuja.

    His professional experience, according to the President, spans journalism, media strategy and public relations, alongside teaching, research and academic administration.

    President Tinubu acknowledged the breadth of Adeniyi’s intellectual engagements, stressing that he has distinguished himself over the years as a journalist, author, essayist, public analyst and commentator whose interventions have enriched national conversations.

    “Professor Adeniyi is a public intellectual of note. He has made important interventions in public policy and facilitated numerous capacity-building initiatives,” the President said.

    He added that the professor’s contributions to both academia and the media have helped shape professional standards and nurture new generations of communicators and journalists.

    President Tinubu wished Professor Adeniyi many more years of good health, success and continued impact, joining his family, colleagues and admirers in celebrating the milestone of a life devoted to learning, service and ideas.

    Also, President Tinubu has congratulated his Special Adviser on Policy Coordination and Head of the Central Results Delivery Coordination Unit (CRDCU), Hadiza Bala-Usman, on her 50th birthday.

    The President described her as a dedicated patriot whose public service career reflects sacrifice, discipline and commitment to national development.

    In a statement by Onanuga, President Tinubu said Bala-Usman’s nearly three decades in public service offer enduring lessons in diligence and purpose-driven leadership, noting that her trajectory has consistently aligned with the demands of reform and accountability.

    The President recalled her early years at the Bureau of Public Enterprises, where, he said, she demonstrated exceptional clarity of vision and a firm grasp of the structural reforms required to stimulate economic growth, even at a young age.

    He identified her leadership at the Abuja Enterprise Agency and later at the Nigerian Ports Authority as defining milestones, saying she broke barriers, raised standards and strengthened accountability in public administration.

    President Tinubu also commended Bala-Usman’s political contributions, particularly her role in party organisation and institutional development within the All Progressives Congress, which he said helped entrench internal processes, organisational effectiveness and democratic values.

    “In her current role as Special Adviser and Head of the CRDCU, Hadiza continues to distinguish herself as an astute public administrator through discipline, clear thinking, and a firm focus on results,” the President said.

    According to him, Bala-Usman’s efforts have strengthened governance frameworks and evidence-based performance, while enhancing the realisation of the administration’s Renewed Hope Agenda.

    “Hadiza’s efforts have helped strengthen the governance framework, evidence-based performance, and enhanced the realisation of the Renewed Hope Agenda. I thank her for her single-minded commitment to our administration and national service,” President Tinubu added.

    The President prayed for “strength, wisdom, good health and grace” for Bala-Usman, urging that she remain an inspiration to women, young people and emerging leaders across the country as she marks the landmark birthday.