Author: The Nation

  • Excitement as fourth Egbin Power’s football tournament  ends

    Excitement as fourth Egbin Power’s football tournament  ends

    By Inioluwa David

    Following the conclusion of the fourth edition of its annual football tournament, the Egbin Power Plc has reaffirmed its commitment to sustainable development and inclusive growth through its Personal Corporate Social Responsibility (PCSR) initiatives, designed to deepen social cohesion, empower young people and strengthen relationships across its host communities.

    The final of the tournament, held at the Egbin Power Sports Field, saw Alanu-Omo FC edge Dragon Ipakan FC with a 1–0 victory in a closely contested encounter, capping weeks of spirited participation marked by discipline, camaraderie and  sportsmanship.

    Speaking on the significance of the programme, Felix Ofulue, Head of Corporate Communications & Branding at Egbin Power, described the initiative as a strategic investment in people and communities.

    “At Egbin Power, we are deeply passionate about initiatives that bring people together and create lasting value. This programme has grown into a platform for nurturing talent, engaging young people constructively, and strengthening bonds across communities. Beyond recreation, it instils critical life skills such as teamwork, leadership, discipline, and resilience, qualities that are essential for personal growth and societal progress,” Ofulue said.

    He added that the objective is to evolve the initiative into a unifying force that strengthens relationships across communities while reinforcing Egbin Power’s brand as a responsible and people-centred organisation.

    Captain of the winning team, Alanu-Omo FC, Samad Ojikutu, expressed appreciation to Egbin Power for its sustained commitment to youth empowerment.

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    “We commend Egbin Power for consistently creating opportunities for young people in the host communities. This is a programme we always look forward to. Winning is exciting, but what matters most is the unity we experience as a team and as a community. It reminds us that we can achieve so much more when we work together,” he said.

    From the opening fixtures to the final match, the programme featured 16 teams drawn from the host communities, with participants displaying not only skill and competitiveness but also camaraderie and respect for fair play—reinforcing the programme’s positive social impact over the years.

     At the end of the competition, Alanu-Omo FC emerged champions and received a cash prize of ₦1million, while the runners-up and third-place teams received ₦700,000 and ₦500,000 respectively.

    The event also attracted notable stakeholders, who commended Egbin Power for creating a credible platform that promotes youth development. Community leader and retired Grade 1 referee, Prince Samson Ekundayo, described the initiative as impactful and timely.

    “Programmes like this are critical for community development. They provide young people with opportunities to showcase their talents, while also learning the values of cooperation, discipline, and respect,” he noted.

  • Kun Khalifat boss bids emotional farewell to Ezeonye, two others

    Kun Khalifat boss bids emotional farewell to Ezeonye, two others

    Kun Khalifat FC President and CEO, Michael Chukwudi Amaefula, has paid glowing tribute to the club’s departing attacker, Henry Ezeonye and two others, describing them as a cornerstone of the club’s growth and success.

    Speaking on behalf of the entire Kun Khalifat FC family,

    Amaefula expressed deep appreciation for Ezeonye’s unwavering dedication, passion and commitment to the Imo State-based club.

    Amaefula noted that Ezeonye was part of the club’s journey from its formative years, stressing that his impact on the team was both profound and lasting. The forward played a pivotal role in the club’s historic promotion to the Nigeria Premier Football League (NPFL), a feat the president said would remain permanently etched in the club’s history.

    Beyond his on-field exploits, Ezeonye was praised for his leadership qualities and influence within the dressing room. According to the Kun Khalifat president, the attacker was more than just a player, serving as a mentor, leader and dependable friend to many within the squad, thereby embodying the true spirit of the club.

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    He  also paid glowing tributes to the duo of Ebuka Nwokorie and Uche Moses, celebrating their immense contributions and lasting impact on the club’s remarkable journey.

    In a heartfelt message released on behalf of the KKFC family, the club expressed pride, gratitude and deep appreciation as both players move on to new chapters in their careers.

    Nwokorie was hailed as more than just a player, but the heartbeat and rhythm of Kun Khalifat FC’s midfield. Renowned for his intelligence, artistry and authority in the middle of the park, Ebuka’s pinpoint passes, timely tackles, decisive assists and memorable goals defined an era for the club.

    His influence was central to KKFC’s historic promotion to the Nigeria Premier Football League and his subsequent Premier League debut, milestones that will forever be etched in the club’s history.

    The club also acknowledged the invaluable service of Uche Moses, praising his dedication, discipline, passion and exemplary team spirit. Uche’s consistent work ethic and commitment were described as instrumental to the team’s progress, with his growth and professionalism standing as a shining example to teammates and supporters alike throughout his time at the club.

    The three players are said to be on the radar of NPFL debutants, Barau FC.

  • ‘Dynamite’ Diaz sends Morocco to AFCON quarter-finals

    ‘Dynamite’ Diaz sends Morocco to AFCON quarter-finals

    Real Madrid forward Brahim Diaz maintained his goal-a-game record at the Africa Cup of Nations by scoring to take Morocco into the quarter-finals with a 1-0 victory over Tanzania in Rabat on Sunday.

    Diaz scored once in each of three group matches and his 64th -minute strike against the Tanzanians created history as he became the first Moroccan to find the net in four consecutive AFCON matches.

    The goal came after Morocco squandered numerous scoring chances while stretching an unbeaten run in competitive and friendly matches to 23. Their last loss was to South Africa at the 2024 AFCON.

    Paris Saint-Germain defender Achraf Hakimi, set up the last-16 winner for Diaz, while making his first start in the tournament after coming off the bench in a victory over Zambia last Monday.

    The 2025 African player of the year suffered a serious ankle injury playing for PSG against Bayern Munich in the Champions League two months ago.

    But Morocco lacked Azzedine Ounahi, who arrived at the stadium using crutches and wearing a medical boot on his left foot. Bilal El Khannouss took his place in midfield.

    Morocco were favourites for several reasons, including home advantage, the backing of close to 70,000 supporters, and lying 101 places above Tanzania in the world rankings.

    However, it was Tanzania who had the first chance in the third minute, but Saimon Msuva misconnected with a Selemani Mwalimu cross.

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    Morocco had the ball in the net after 15 minutes as Ismael Saibari nodded a Abdessamad Ezzalzouli free-kick past goalkeeper Hussein Masaranga but the assistant referee immediately raised his flag for offside and a VAR review confirmed that the PSV striker had strayed too far forward.

    Ayoub El Kaabi was the next Moroccan to come close, heading over before being injured in a collision with Masaranga. Both players resumed after treatment.

    A Diaz shot was too high from the edge of the box and El Kaabi headed wide as the host nation continued their pursuit of the opening goal, but the first half ended goalless.

    In a lively start to the second period, Ezzalzouli and El Kaabi headed wide then, in a rare Tanzanian raid, Feisal ‘Fei Toto’ Salum fired over with only goalkeeper Yassine Bounou to beat.

    As Moroccan pressure mounted, Hakimi rifled a free-kick against the crossbar from just outside the box on the hour mark.

    A goal seemed inevitable given the relentless pressure from the host nation, and it came thanks to Hakimi and Diaz.

    The full-back passed to the forward, who beat Masaranga at his near post with an angled shot from close range.

  • Tyson Fury comes out of retirement again

    Tyson Fury comes out of retirement again

    Former world heavyweight champion Tyson Fury  has announced he will return to boxing in 2026.

    Fury has not fought since losing to Oleksandr Usyk in a bout for three of the four major world titles in December 2024.

    But the 37-year-old British star posted on Instagram on Sunday: “2026 is that year. Return of the mac.

     “Been away for a while but I’m back now, 37 years old and still punching. Nothing better to do than punch men in the face and get paid for it.”

    Fury also said he was retiring from the sport after beating Dillian Whyte in April 2022, only to return later in the year.

    Fury’s history of retirement followed by U-turns meant few believed his most recent claim to end a career that had brought 34 wins in 37 contests.

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    He was incensed at the judges’ decisions in a pair of defeats by Usyk, the only boxer to beat Fury, who said in last year’s retirement message: “I’m going to end with this: Dick Turpin wore a mask.”

    The self-styled “Gypsy King” fuelled speculation of another comeback over the festive period by posting several clips on his social media feeds of himself in training.

    Despite insisting he had bowed out of the sport, Fury has been repeatedly linked with a long-awaited all-British bout against Anthony Joshua, another former two-time world heavyweight champion.

    The pair agreed to a fight in August 2021 when they held all the major world titles between them, but that was scuppered when Fury was ordered to take on Deontay Wilder for a third time by an arbitration hearing.

    Plans were in the pipeline for Joshua and Fury to have tune-ups in the early part of this year before finally facing off against each other, either in late summer or towards the back end of 2026.

    However, the car crash in Nigeria  last Monday which left Joshua injured and led to the deaths of two close friends and team members has likely put boxing on the back burner for the 36-year-old.

    If Joshua is unavailable, Fury could seek a trilogy fight against WBC, WBA and IBF titlist Usyk or a contest with WBO champion Fabio Wardley.

    A win over either would see Fury join Muhammad Ali as a three-time world heavyweight champion.

  • Cameroon send South Africa packing  from  AFCON 2025

    Cameroon send South Africa packing  from  AFCON 2025

    Goals either side of half-time by Junior Tchamadeu and Christian Kofane took Cameroon through to the Africa Cup of Nations quarter-finals at South Africa’s expense last night as the Indomitable Lions edged their last-16 clash 2-1.

    Tchamadeu opened the scoring in the 34th   minute at Al Medina Stadium in Rabat and teenage Bayer Leverkusen forward Kofane headed in the crucial second goal two minutes after half-time.

    A late rally from South Africa saw Evidence Makgopa pull one back, but it is Cameroon who go through, and the five-time champions now play hosts Morocco in a heavyweight quarter-final on Friday.

    They can go into that match in relaxed mood, knowing all the pressure is on Morocco as they look to win a first AFCON title in 50 years in front of their home support.

    For Cameroon, reaching the last eight means their AFCON is already a success after a chaotic build-up in which football federation president and Indomitable Lions legend Samuel Eto’o sacked coach Marc Brys, replacing him with David Pagou.

    The new coach got the better of South Africa’s Hugo Broos, who had promised to show no mercy to Cameroon nine years after leading them to their last continental crown at the Cup of Nations in Gabon.

    There will be major disappointment for Bafana Bafana, who finished third at the last AFCON two years ago in Cote d’Ivoire, but they can console themselves by turning their attentions towards the upcoming World Cup.

    Yet South Africa had chances to take an early lead, with Relebohile Mofokeng squandering a golden opportunity inside seven minutes.

    Cameroon defender Che Malone failed to deal with a simple ball forward to leave Mofokeng in on goal, but the Orlando Pirates forward blazed over.

    Lyle Foster then had the ball in the net only to be denied by the offside flag, and instead Cameroon went in front just after the half-hour mark.

    When the South African defence could only partially clear a corner, the ball fell to Carlos Baleba on the edge of the area.

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    He took a touch and tried a shot which was deflected into the path of Tchamadeu and the London-born full-back with Stoke City rolled home from close range.

    That goal – confirmed after a long VAR check – was celebrated by the Cameroonian fans who made up the majority of the 14,127 crowd, with two-time AFCON winner as a player Eto’o among those in attendance.

    South Africa would have been hoping for a strong start to the second half but instead Cameroon scored again within two minutes of the restart.

    Substitute Mahamadou Nagida crossed from the left and Kofane headed in his second goal of the tournament so far.

    Cameroon goalkeeper Devis Epassy then made good saves from Samukele Kabini and from a Teboho Mokoena free-kick before Makgopa turned in a low cross by fellow substitute Aubrey Modiba on 88 minutes.

    That set up a grandstand finish, but Cameroon nervously held on.

  • Tinubunomics and the arithmetic of illusion

    Tinubunomics and the arithmetic of illusion

    By Tanimu Yakubu

    A striking feature of Nigeria’s current economic debate is the enthusiasm with which huge numbers are circulated—and the casualness with which they are assembled. Tax collections are added to oil receipts; oil receipts are added again under customs or “subsidy savings”; borrowing is treated as income; and the resulting total is presented as proof of incompetence or theft.

    This is not an economic analysis. It is an arithmetic illusion.

    At the core of most viral critiques of Tinubunomics lies a fundamental failure to distinguish between revenue, cash, and financing, and between federation-wide collections and federal budgetary resources. These are not technicalities. They are the foundation of public finance.

    Revenue is not the same as cash available to the Federal Government. Borrowing is not income; it is financing and creates future obligations. Federation receipts are not equivalent to what the Federal Government can spend.

    Once these distinctions are ignored, any number—no matter how dramatic—can be manufactured.

    The familiar pattern runs as follows. Aggregate tax collections are cited, often correctly, in gross terms. Oil revenues are then added without clarifying whether they are gross or net, federation-wide or federally retained, or whether costs, deductions, and under-recoveries have been netted off. Customs receipts are layered on, sometimes without stating whether they are already embedded in non-oil revenue totals. Borrowing is then added as though it were free money. Finally, “subsidy savings” are thrown into the mix, as if stopping a fiscal leak produces a vault of idle cash.

    The result is a large headline number—N150 trillion, N170 trillion, N180 trillion—followed by the question: where did the money go?

    The answer is straightforward: much of it never existed in the form being implied.

    Subsidy reform, for instance, does not conjure discretionary cash. It closes a hole. Under the old regime, underpricing manifested through arrears, opaque netting, and quasi-fiscal obligations. Reform first eliminates these hidden drains. The fiscal benefit appears gradually—through reduced deficit pressure, better budgeting discipline, and explicit, targeted support—not through a sudden pile of spendable “savings.”

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    Debt figures are similarly abused. A significant portion of Nigeria’s recent increase in debt stock in naira terms reflects exchange-rate revaluation of existing external obligations, not fresh borrowing. When the exchange rate adjusts, the naira value of dollar-denominated debt rises automatically. Treating this accounting effect as new borrowing is a category error, not a discovery.

    Most persistently, federation-wide collections are presented as if they belong solely to the Federal Government. They do not. Revenues in a federation are shared, earmarked, netted, and statutorily allocated. Federal budget reality is determined by FGN retained revenue plus deficit financing, not by gross federation inflows aggregated for political effect.

    Tinubunomics was never a promise of instant abundance. It is a macro-fiscal reset undertaken within hard constraints: inherited debt service, FX realism, security spending, legacy arrears, and competing constitutional obligations. Its logic is structural—restoring price signals, strengthening revenue administration, rebuilding credibility, and re-pricing the public balance sheet while protecting the most vulnerable.

    Those who insist on treating national finance as a household ledger will always find scandal where none exists. But accountability does not begin with social media addiction. It starts with audit logic.

    The proper way to interrogate government performance is simple: examine federal retained revenue; separate it clearly from financing; track expenditure across debt service, personnel, capital, and transfers; and then assess outputs—roads built, power delivered, rail extended, schools and clinics rehabilitated.

    Anything else is not subject to scrutiny. It is a theatre.

    And no amount of theatrical arithmetic can substitute for fiscal discipline.

    • Yakubu is the Director-General of the Budget Office of the Federation.

  • NIMASA deepens blue economy with strategic plans

    NIMASA deepens blue economy with strategic plans

    In 2025, the country’s maritime business environment underwent a major reset as a result of regulatory reforms, improved security, labour stability, and renewed global engagement.

    These factors significantly reduced operational risk and restored international confidence in the country’s shipping and blue economy prospects.

    This, the Head, Public Relations at the Nigerian Maritime Administration and Safety Agency (NIMASA), Osagie Edward, underscored in a statement.

    According to him, under the leadership of the NIMASA Director-General, Dr. Dayo Mobereola, the agency earned commendations from the Presidency, maritime institutions, labour unions, and a broad spectrum of industry stakeholders.

    He said throughout the year under review, the agency, operating under the supervision of the Federal Ministry of Marine and Blue Economy, sustained a reform-driven agenda focused on maritime safety and security, capacity development, regulatory efficiency, labour harmony, and international engagement.

     These deliberate efforts, Edward said, culminated in one of Nigeria’s most significant maritime milestones in recent history — the country’s successful return to the International Maritime Organisation (IMO) Council after a 14-year absence.

    “President Bola Ahmed Tinubu formally commended the management of NIMASA following Nigeria’s election into Category C of the IMO Council for the 2026–2027 biennium, describing the achievement as a strong affirmation of Nigeria’s growing influence in global maritime governance.

    “In a State House press release, the President noted that the election reflects the confidence of the international community in Nigeria’s commitment to maritime safety, security, environmental stewardship, and rules-based operations.”

    He specifically applauded the Federal Ministry of Marine and Blue Economy, NIMASA, and Nigeria’s diplomatic team for their professionalism, strategic engagement, and tireless efforts throughout the election process,” he said.

    “President Tinubu further emphasised that Nigeria’s return to the IMO Council aligns seamlessly with his administration’s broader vision to unlock the nation’s vast blue economy potential, strengthen anti-piracy initiatives in the Gulf of Guinea, expand maritime infrastructure, and position Nigeria as a regional shipping and logistics hub,” Edward added.

    Nigeria’s election into the IMO Council on Friday, 28 November 2025, during the IMO General Assembly in London, the agency’s spokesman said, stands out as the defining highlight of the year. The victory, he said, led by the Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, marked the country’s triumphant return to the Council after more than a decade.

    “Describing the outcome as a landmark endorsement of Nigeria’s maritime reforms, Oyetola credited over twelve months of intensive diplomatic shuttles, sustained advocacy, and coordinated stakeholder engagement involving NIMASA and other national institutions. He noted that Nigeria’s improved maritime security architecture and reforms in the Gulf of Guinea played a decisive role in restoring global confidence.

    “With this development, Nigeria has been restored to a strategic global platform where it can meaningfully contribute to shaping international shipping policies, maritime safety standards, and sustainable ocean governance,” the statement read.

    Another major highlight of the year, as indicated by Edward, was NIMASA’s successful hosting of the Secretary-General of the International Maritime Organisation, Mr. Arsenio Dominguez, the world’s leading maritime official. The historic visit, he said, underscored Nigeria’s renewed relevance within the global maritime community.

    According to him, Oyetola personally led the engagement, providing strategic leadership and hosting the IMO Secretary-General, while NIMASA, as Nigeria’s nodal agency to the IMO, coordinated technical sessions and stakeholder interactions. The visit, he noted, further reinforced international confidence in Nigeria’s maritime reforms and institutional capacity.

    Working in synergy with national and international security architecture, NIMASA, Edward said, successfully sustained zero piracy incidents in Nigerian waters during the year under review. “The Agency’s Deep Blue Project proved instrumental in this achievement. Port and Flag State during the period under review have been effective and surpassed the globally acceptable standards,” he said.

    The statement highlighted the visit of the IMO Secretary-General who witnessed a live demonstration by the Deep Blue security team and reportedly stated that other maritime nations have much to learn from Nigeria’s maritime security framework.

    It also underlined the area of human capacity development, noting that Mobereola and his management team demonstrated uncommon commitment to maritime education. “The issue of seatime for beneficiaries of the Nigerian Seafarers Development Programme NSDP is enjoying deserved attention as the backlog is being cleared,” it said.

    Edward described as historic the Director-General of NIMASA’s personal attendance at the Maritime Academy of Nigeria (MAN), Oron graduation ceremony, noting that he is the first serving chief executive of the Agency to do so.

    “Speaking at the event, the Rector of MAN, Dr. Okonna, commended the NIMASA management for its sustained support for maritime education and seafarer development, noting that the Agency’s interventions have continued to strengthen the training pipeline for Nigerian seafarers and improve the quality of maritime manpower available to the industry,” he said.

    NIMASA’s performance in 2025, the statement said, also attracted strong commendation from maritime labour unions, particularly the Maritime Workers Union of Nigeria (MWUN). The union’s President-General, Comrade Francis Bunu, it said, praised the agency for its constructive engagement with maritime labour, improved regulatory oversight, and commitment to policies that promote workers’ welfare, industry stability, and indigenous participation.

    “Comrade Bunu recently commended Dr. Mobereola for facilitating the successful unionisation and signing of a Collective Bargaining Agreement (CBA) between MWUN and some shipping companies operating in Nigeria. The agreement established clear working conditions for union members and was widely seen as a milestone in promoting industrial harmony.

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    “The MWUN President-General described Dr. Mobereola as “one DG ever produced by NIMASA who is thorough, proactive, disciplined, and deeply knowledgeable in maritime administration,” noting that these qualities were instrumental in achieving the agreement,” it said.

    Beyond the CBA, the statement said MWUN commended NIMASA for its role in curbing piracy in Nigerian waters and the Gulf of Guinea, noting that the improvements have enhanced maritime safety and strengthened investor confidence. It added that the union pledged full support for Nigeria’s engagement at the IMO Council and participated in initiatives to improve seafarers’ welfare, including the introduction of a reviewed minimum wage framework.

    It said that, regarding the Cabotage Vessel Financing Fund, NIMASA’s management, under the supervision of the Minister of Marine and Blue Economy, Adegboyega Oyetola, has resolved a major bottleneck that had hindered the disbursement of the fund, raising strong expectations for progress in 2026.

    It said that within the agency, management achieved notable gains in staff welfare and motivation through promotions, structured training programmes, and targeted capacity-building initiatives aimed at strengthening professionalism, career progression, and institutional efficiency, measures that in turn improved morale and enhanced NIMASA’s ability to discharge its statutory responsibilities.

    The statement reaffirmed NIMASA’s 2025 performance under Mobereola’s stewardship. delivered renewed credibility, stronger stakeholder partnerships, and quantifiable progress for Nigeria’s maritime industry. It added that the agency’s alignment with the Federal Government’s blue economy agenda and its growing international recognition position it strongly for even greater impact in the years ahead.

    “With sustained reforms, robust stakeholder collaboration, and proactive global engagement, NIMASA enters 2026 well-positioned to consolidate gains and further advance Nigeria’s standing as a leading maritime nation,” it said.

    In a New Year message to stakeholders, Mobereola, expressed sincere appreciation for the cooperation, partnership, and steadfast support received throughout the past year. He emphasised that stakeholders’ contributions were crucial to the progress recorded across Nigeria’s maritime sector and expressed optimism for even stronger collaboration in the year ahead.

    According to him, “2025 was a momentous year for the nation’s maritime industry, marked by significant achievements and renewed international confidence.

    “As we look forward to 2026, it is our firm resolve to consolidate on these gains and deliver even greater outcomes for the sector and the nation at large.”

    Mobereola expressed confidence in the strength of collective effort, stating, “I am confident that through our joint efforts, we will achieve this.” He concluded by wishing stakeholders and their families a peaceful, productive, and rewarding 2026.

  • New domestic carriers deepen competition along Northeast region

    New domestic carriers deepen competition along Northeast region

    Passengers looking forward to  options in flight connectivity around the country will soon heave a sigh of relief as six states in the North Eastern Region of Adamawa, Bauchi,  Borno, Taraba, Gombe and Yobe wrap up plans to   establish a new carrier – North East Shuttle.

    The proposed carrier will compete with existing operators including Rano Air, Max Air, UMZA Airlines, AZMAN Air, Binani Airlines, K- Impex Airlines with stronghold in the Northern Region.

    The coming of the new carrier experts say will also alter the stakes for older airlines including Air Peace, Aero Contractors Airlines, Arik Air, United Nigeria Airlines, Ibom Air, Green Africa Airways , Overland Airways, ValueJet Airlines and others.

    Experts in the sector have described the coming of the new carrier as a changer to facilitate improved air link across the country ensuring that underserved and unserved routes are factored into the network.

    Sources hinted that the proposal is already creating unease among operators , which have worked out route expansion of flights services within the North Eastern Region.

    Routes including Lagos/ Yola, Abuja / Yola , Lagos / Maiduguri, Gombe, Jalingo, Bauchi, Damaturu will come under focus as operators jostle for market dominance.

    Investigations by The Nation reveal that the regional initiative is to cost each of the six  contributing states N5 billion, bringing it to N30 billion meant for purchase of two aircraft to drive the regional air shuttle aimed at enhancing air transportation.

    Gombe State Commissioner of Finance and Economic Development, Alhaji Muhammad Magaji confirmed the development.

    He said the initiative has been in the pipeline for some time with  six states collectively putting together a seed investment of N69 million as consultancy for the establishment of the regional shuttle.

    “Gombe’s N5 billion has been approved and we are going to ensure that we make that payment to  ensure  we meet the deadline for the payment.”

    “The six governors of the Northeast states had decided that there is a need for the region to have a Northeast shuttle, that is, an airline.

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    “The six states had agreed to contribute the sum of N5 billion each, making N30 billion for the purchase of two aircraft that will be utilised for the Northeast shuttle.

    “The airline will move around the North-Eastern states and outside of the region to other parts of the country.

    “There were two decisions, either you borrow $20 million to buy, or you pay N5 billion each and the six governors have agreed to contribute that sum,” he said.

     Magaji said the shuttle would open up the region and ensure that the region has a stable air transport.

    He stated that with the shuttle coming on board, the region would no longer have issues with air transportation as it used to experience.

    Magaji said: “Most of the time, airlines come into the North-East and for one reason or the other, they pull out. So, for now, even when anyone pulls out, this is our own airline; it would remain with us to serve the North-East and even others outside the Northeast.”

    Prior to the new arrangement, some states in the region , including Taraba had mooted the idea of setting up an airline.

    Besides, Aero Contractors Airlines had entered into agreement with Bauchi State Government for air connectivity from different parts of the country.

    Gombe State Government had many years ago reached agreement with Arik Air and Overland Airways to facilitate air access into the state.

  • Vitafoam sustains 60-years ‘First Baby’ tradition

    Vitafoam sustains 60-years ‘First Baby’ tradition

    Vitafoam Nigeria Plc has once again marked the new year with its long-standing “First Baby” tradition at Lagos Island Maternity Hospital, celebrating six decades of supporting new beginnings.

    At exactly 2:45am, the first baby of 2026 was born, a baby girl weighing 2.1kg, signaling not only the arrival of a new life but the continuation of a 60-year corporate social responsibility initiative. Her parents, Clifford Afekhuai from Edo State and his wife, Fidelia from Delta State, received recognition and gifts from the foam manufacturing company.

    An emotional Afekhuai expressed his joy, describing himself as “the happiest person” and offering prayers for the hospital staff, wishing them wisdom, longevity, and continued success in caring for mothers and newborns.

    The second baby of the year followed at 4:25am. A healthy baby boy weighing 3.2kg was born to Oluwatoyin Salimon Oluwatunji and Oluwatoyin Kawthar from Kwara State. The father praised the hospital for the seamless delivery and warm treatment, describing the experience as excellent and stress-free.

    Speaking during the presentation ceremony, Vitafoam’s Commercial Director, Alhaji Dahiru Gambo, highlighted the importance of the initiative, noting that the company has consistently celebrated the first babies of the year for the past 60 years as part of its CSR efforts.

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    The programme recognises the first three babies born at the hospital on January 1 each year, with donations that include mattresses, pillows, and bedding for both families and the hospital. Gambo explained that the partnership is designed to motivate healthcare providers and support improved service delivery, stressing that private sector collaboration is essential in strengthening public healthcare.

    The Medical Director and CEO of Lagos Island Maternity Hospital, Dr. Taiwo Adeiyi, commended Vitafoam for its unwavering commitment, describing the initiative as a noble example of corporate giving. He encouraged other organisations, particularly manufacturers of maternal and child-care products, to emulate the gesture and support healthcare facilities.

    Also speaking, the Apex Nurse and Head of Nursing Services, Toyin Champion, praised Vitafoam as a dependable partner, while openly appealing for even greater support. She reaffirmed the hospital’s willingness to collaborate with more organisations dedicated to improving maternal and child healthcare.

    The annual celebration once again underscored Vitafoam’s enduring role in supporting families, healthcare workers, and communities at the very start of each new year.

  • How macro economic reforms turned around economy, by Oyedele

    How macro economic reforms turned around economy, by Oyedele

    Nigeria’s unmet FX demand would have grown from $7 billion in 2023 to $10 billion in 2025 had the Federal Government not embarked on FX and trade reforms, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele has said.

    The Federal Government recently embarked on critical reforms in FX, exchange rate, oil and gas, trade and taxation to reposition the economy for growth and development.

    In a report-Economic Overview and Highlights of Current Fiscal & Tax Reforms- released to the media, the tax expert, explained that the reforms have led to trade surplus, unified FX rate, clearance of FX backlog, rise in foreign reserves and use of naira cards for international transactions abroad.

    These developments, he said, meant that the painful but necessary reforms embarked by the Federal Government are beginning to yield positive macro results.

    He disclosed that trade deficit, multiple FX windows, unmet FX demand, and declining foreign reserves and zero FX in naira cards abroad dominated the pre-reforms era of 2023.

    Also, on the fiscal position (tax, budget and debt) before the reforms, he said tax-to-Gross Domestic Product (GDP) ratio was less than 10 per cent, debt service-to-revenue was around 97 per cent, there were high deficit, low capital expenditure and N30 trillion Ways & Means.

    The reforms, he said, have led to tax-to-GDP rising to 13.5 per cent, debt service-to-revenue less than 50 per cent, there is declining deficit, more infrastructure spend and moderation in Ways & Means.

    He disclosed that without the reforms, tax-to-GDP would have been less than 10 per cent, debt service-to-revenue would have hit 100 per cent, capital expenditure near-zero and N50 trillion Ways & Means.

    On subsidy, inflation and prices, Oyedele disclosed that pre-2023, there was unsustainable petrol subsidy which led to product scarcity, high inflation and rising interest rates.

    Then came the reforms, leading to petrol subsidy removal, product availability, moderating inflation and high but easing interest rates.

    Without the reforms, petrol subsidy would have collapsed by now, product scarcity would have persisted, leading to hyperinflation and very high interest rates.

    In the oil and gas sector, pre-2023 era was dominated by declining crude oil & gas production, oil theft, low investor confidence.

    Also, the reforms led to rising crude oil & gas production, reduced oil theft, investment returning. Without the reforms, there would have been encumbered oil & gas production, low investment and more divestment.

    Oyedele said although there was rising poverty, declining decent job opportunities in pre 2023 era, although with the reforms, high poverty still exists but prospect of improving job opportunities as firms recover remains high.

    Without the reforms, the country would have been facing more poverty and fewer decent jobs at present.

    Continuing, he said the pre-reforms era of 2023 was dominated by market-unfriendly policies, weak coordination, poor communication and inefficient financial management. The reforms, he said have brought about market-friendly policies (capital market reforms), stronger coordination and communication and improved fiscal management.

    Not embarking on the reforms would have led to policy inconsistency, market-unfriendly policies and inefficient fiscal management.

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    Before the reforms, Nigeria faced weak sovereign credit standing, but the reforms led to sovereign credit rating upgrades, and stronger investor confidence. Without the reforms, there would have been no upgrades and investment climate would have worsened.

    According to the Central Bank of Nigeria (CBN) Governor, recent assessments by rating agencies have provided significant external validation of Nigeria’s reform trajectory.

    Fitch, Moody’s, and Standard & Poor’s have all acknowledged the positive impact of Nigeria’s reforms, from stronger reserves to improved fiscal discipline and greater FX transparency.

    Across all three agencies, the direction is consistent: fundamentals are strengthening, reform credibility is rising, and Nigeria’s risk profile is improving.

    Fitch upgraded Nigeria from B- to B (stable), recognising our commitment to orthodox policies including FX reform, monetary tightening, and ending deficit monetisation. Moody’s also raised its rating from Caa1 to B3 in May, citing improved fundamentals and a stronger outlook. And just this November, S&P affirmed B-/B and revised its outlook to positive, underscoring sustained reform momentum, rising reserves, and enhanced macroeconomic resilience.

    Moody’s has also concluded its periodic review and while headlines may highlight risks, as rating agencies are mandated to do, the substance of the report reaffirms ongoing improvements, including stronger fiscal metrics and deeper diversification.

    “These nuances matter and this is precisely why we must continue to tell our own story clearly, consistently, and confidently. Nigeria’s model-implied scores are trending upward, and as reforms deepen and data continues to validate progress, these legacy qualitative reservations will diminish paving a clearer path to future upgrades,” he said.

    “These endorsements of Nigeria’s policy direction have translated directly into improved borrowing terms, increased investment inflows, and enhanced credibility. Underscoring this progress, Nigeria last year, successfully raised US$2.35 billion through a Eurobond issuance, attracting US$13 billion in orders, the largest in the nation’s history,” he added.