The Nation Newspaper

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  • Kabiyesi

    Kabiyesi

    Each time I hear, read, or watch traditional rulers fight over supremacy, something shifts within me. It is not that such scenes make me despise tradition or culture. Far from it. What unsettles me is the quiet sickness they provoke, the feeling that decades after the world has moved on, we are still allowing ourselves to be emotionally and psychologically pressured by the ghosts of our ancestors.These ancestors lived in a different era altogether. Theirs was a time when life was basic and survival was local. Electricity was unknown. Airplanes were unimaginable. Telephones, radio, television, and even the earliest modern inventions had not yet entered human consciousness. Their worldview was shaped by the limits of their environment, their technology, and their understanding of the universe.Their actions and inactions were dictated by their time. Their behaviors, beliefs, and power structures were molded by the circumstances they found themselves in. From the architecture of their homes to the clothes they wore, from how they governed to how they worshipped, context played a decisive role in how things unfolded. They did what made sense to them, within the boundaries of what they knew and what was possible.

    This is why, in this age and time, I worry deeply when one traditional ruler claims superiority over another and violence or social tension erupts as a result. It is troubling when each side begins to summon history as ammunition, dredging up ancient memories to validate present-day claims. The tragedy is that many of these historical accounts are not sacrosanct. They are not infallible truths etched in stone.In fact, scholars have long pointed out the inadequacies, contradictions, and gaps in many of these narratives. Oral histories, while valuable, are fluid. They evolve, they merge myth with memory, and they are often reshaped by power, politics, and pride. Yet, we continue to treat them as unquestionable evidence, worthy of bloodletting and endless rivalry.

    Growing up, we heard all kinds of stories about the origins of the Yoruba people. One narrative I have always found difficult to accept without question is the claim that Oduduwa, the acclaimed progenitor of the race, came from Saudi Arabia and descended into Ile Ife using a chain. Was Ile Ife empty when he arrived? From what scholars have established, Ile Ife was not an uninhabited space. There were people there long before Oduduwa’s arrival.Still, if as a people we have chosen to accept him as the symbolic father of the race, a race that was not even called Yoruba in Oduduwa’s time, then so be it. Faith, symbolism, and collective agreement often matter more in identity formation than strict historical accuracy. But we must also admit that these stories are layered, contested, and far from straightforward. We were also taught that Oduduwa had seven children who went on to establish kingdoms such as Oyo. Even this account has been questioned by historians and researchers. Some argue that the number seven is symbolic rather than literal. Others suggest that the dispersal of power and people was far more complex than a neat family tree would suggest.If these foundational stories are open to debate, reinterpretation, and scholarly scrutiny, then one must ask a simple question. Why should traditional rulers in this modern age still be fighting over supremacy based on them? The era when traditional rulers were the ultimate powers-that-be ended long ago. Colonial authorities, with calculated precision, dismantled their political authority and nailed the coffins of absolute traditional power. The modern Nigerian state, like many others, placed kings and chiefs within a constitutional framework that stripped them of sovereignty.

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    Today, political leaders decide who ascends these revered stools. Governors sign the papers. Courts adjudicate disputes. And as we have seen repeatedly, politicians have demonstrated the powerlessness of these stools by suspending or deposing traditional rulers when it suits their interests. From the West to the North, monarchs have been removed, sanctioned, or humiliated by elected officials. This is not conjecture. It is documented reality. Given this reality, one would expect traditional rulers to recalibrate their sense of relevance. Instead of expending energy on needless supremacy tussles, they ought to smell the coffee and accept that we live in a completely different world. This world bears little resemblance to the one inhabited by Oduduwa, Oranmiyan, Obatala, Bayajidda, and other revered ancestors.It is not just different. It is constantly changing. The world of ten years ago is not the world of today. The world of twenty years ago bears little resemblance to that of fifty or one hundred years ago. Technology alone has rewritten the rules of power, influence, and authority.

    There was a time when the compact disc was revolutionary. There was a time when owning a flash drive felt like being ahead of the curve. There was a time when the video player was the pride of many living rooms. All of these have been overtaken by newer, faster, and more efficient innovations. Progress does not ask for permission. It moves on, relentlessly. Societies that refuse to adapt are left behind, clinging to symbols whose substance has long evaporated. Culture, like technology, must find ways to stay relevant without becoming destructive. Tradition should guide, not chain. It should inspire, not incite conflict.

    I cherish ancient stools such as the Alaafin, the Ooni, the Awujale, and many others. They are repositories of history and symbols of continuity. But we do ourselves no favors by deceiving ourselves about their place in this rapidly changing world. Reverence does not require rivalry. Honor does not demand hostility.

    From time immemorial, I have recognised only one true Kabiyesi, the ultimate authority, the one who can do and undo without limitation. That is God, our source, our creator, and our comforter. Anyone else who lays claim to absolute supremacy is, at best, engaging in self-deception.

    I urge our traditional rulers to come to terms with this reality. I also implore them not to forget the times we live in. Let this awareness guide their actions and inactions. Only then can they free themselves from needless supremacy battles.

    My final take: The age of kingdoms and empires has passed. They belong to history books and folklore. What remains is the opportunity for traditional rulers to redefine their relevance, to serve as custodians of culture, mediators of peace, and moral voices in a complex society. That role, if embraced with humility, is far more valuable than any hollow claim to supremacy.

  • Fruitful journey of Yakubu Mohammed

    Fruitful journey of Yakubu Mohammed

    • By Dare Babarinsa

    I am happy that Oga Yakubu Mohammed was able to publish his highly readable memoir before his final call on Wednesday January 14.  The last time we met was when I visited him on August 12, last year and he presented me with an autographed copy of Beyond Expectations, his memoir of 422 pages.  The book expectedly bristles with humour and vignettes of wisdom.  It is Mohammed’s testament about journalism and public service.  It is his offering to the coming generations. 

    In November last year, Dan Agbese, his co-traveller and a principal character in Beyond Expectations, died.  Now Mohammed has joined him.  Three of the four founders of Newswatch magazine are now dead.  The only survivor is the durable Ray Ekpu, the iconoclastic columnist who ruffled the feathers of the Nigerian establishment for generations.

    Mohammed came to prominence in journalism early.  He bagged a degree in Mass Communications from the University of Lagos at 25 in 1975.  In 1980, barely 30 and almost four years after his compulsory national service, he was already associate editor of New Nigerian, one of the most powerful newspaper houses in Nigeria. It was at New Nigerian that he and Dan Agbese met as colleagues. Agbese and Ray Ekpu, who was editing the Nigerian Chronicles, Calabar, were of the Unilag Mass Communication class of 1973.  Destiny joined the three of them. 

    The same destiny brought Mohammed to the Concord Group of Newspapers founded by the larger-than-life businessman, Chief Moshood Abiola.  It was in Concord that Mohammed met Dele Giwa, an American-trained journalist, who was the pioneer editor of the Sunday Concord.

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    I first met Mohammed at the National Concord.  When I completed my NYSC in July 1982, many of my classmates would not apply to Concord because the paper was rabidly partisan in favour of the ruling National Party of Nigeria, NPN. I and many of my friends were beneficiaries of Chief Obafemi Awolowo’s Free Education Programme in the old Western Region and we viewed with resentment Concord hostility to Papa Awo.  Then, Abiola suddenly left politics and the NPN and the Concord changed its music.  My friend, the late Olawale Oladepo, who was working with Gbolabo Ogunsanwo’s magazine, Nation, said we should apply to work for the Concord.  “The paper has changed,” Wale said with enthusiasm.

    By this time, I had fallen under the spell of some bigwigs in journalism who were my superiors at the Drum Publications Ltd, which I joined immediately after my NYSC in 1982.  Among these seniors were Prince Adetule, our editorial director, Olaseinde Lawson, our editor, and Matthew Faji our photo editor.  Among my colleagues in Drum were Wole Olaoye and Dayo Omotosho.  Then I followed Oladepo to Concord where we met Yakubu Mohammed and our lives changed.

    We submitted our letters to his secretary and once he was told who we were, Mohammed invited us into his office.  He was warm, communicative and he asked us many questions. We let down our guards. We did not know he was already interviewing us for the job! We thought we were just having a general gist with a big man.  I told him that apart from my Drum experience, I had a very busy service year as the editor of the Ogun State NYSC newsletter and other assignments as the Ogun State NYSC Public Relations Officer.  He offered Oladepo and myself employment.  Another classmate of ours, Ifeanyi Ubabukoh, was to join us later.

    Mohammed was a formidable leader of men.  He had succeeded the iconic Doyinsola Abiola as the editor of the Concord newspaper in 1982 and it was to his credit that circulation soared during his tenure. 

    He was not afraid to take risk with young subalterns like us. One day, two emissaries came from Surulere saying the great Aminu Kano, leader of the Peoples Redemption Party, PRP, would like to be interviewed by the Concord.  All the big journalists were out on the beat and it was only Oladepo and I that were in the newsroom.  Mohammed said we should follow them.  We did with trepidation for despite our bravado, we were seriously green.  Our interview with Mallam Aminu Kano was to become our first story to hit the front page of the Concord.  I later served as the National Assembly correspondent before being posted to Akure as the chief correspondent for Ondo State (including the present Ekiti State) where I was destined to cover the 1983 general election riot.

    We followed Mohammed and his colleagues to Newswatch in November 1984.  Our leaders in Newswatch; Dele Giwa, Ray Ekpu, Dan Agbese and Yakubu Mohammed showed us what a first-class newsmagazine ought to be.  They had able lieutenants who were giants in their own right; Dayo Onibile, Soji Akinrinade, Dele Omotunde, Lawson Omokhodion, Nosa Igiebor, Kayode Soyinka and others.  It was a great team. We produced a magazine noted worldwide for its depth of investigations and deft of language.  No one exemplifies our competence more than Oga Yakubu Mohammed.

    Mohammed was an artist with words.  He wrote with simple elegance and with facts.  Verbosity was not for him, nor the flowery language of some of his colleagues.  He laid out his facts devoid of accoutrements.  He was approachable because he was one of us; members of the Editorial Street.  We exchange books, especially memoirs and biographies. He was never afraid to lose an argument if your facts outweigh his.  He was a gentleman and a nationalist. 

    But success brought problems and jealousy.  He and his colleagues at the helm of Newswatch had high social visibility and their pens were mighty.  The devil found them attractive and it came for them in the forms of military jackboots. The worst happened in 1986 when Giwa was assassinated with a parcel-bomb. Detention, harassments, proscriptions and constant trailing by security agents were to follow.  Once, Ray Ekpu wanted to board a plane for Lagos at the Calabar airport.  He was arrested on the tarmac by security agents, bundled into a van and driven to Lagos by road. When we published what the military regime did not like, they locked up Ray Ekpu and company.  When the big man at Dodan Barracks is unhappy or had a poor digestion, they locked up Ray Ekpu and company. 

    It was such incremental punishments that made Yakubu Mohammed and company our heroes.  Mohammed was willing to suffer for the good of all so that our country can be free from military rule.  I am happy that he was able to show his mettle during his tenure as the pro-chancellor of Ahmadu Bello University, Zaria. His attempt to serve the people of Kogi State as their governor was frustrated by the complexities of that peculiar state.

    Mohammed lived a good and productive life.  He loved freedom, not just for himself, but for our country.  Now he is free forever.  God compensated him by blessing him with good and successful children.  I commiserate with his wife, Hajia Rabi, and family.  May his valiant soul rest in peace.

    •Babarinsa, CON is chairman, Gaskia Media Ltd.

  • Food for thought for African Democratic Congress (ADC)

    Food for thought for African Democratic Congress (ADC)

    ‘A nation is great not by its size alone. It is the will, the cohesion, the stamina, the discipline of its people and the quality of their leaders which ensure it an honorable place in history.”- Mr. Lee Kuan Yew – the First Prime Minister of Singapore’

    Effectively, as we approach the 2027 general elections in Nigeria, except some critical steps  are taken by the African Democratic Congress (ADC), the ADC will not stand a chance to even compete talkless of to win the 2027 presidential elections against President Bola Ahmed Tinubu.

    The clock is already ticking, build up to the 2027 elections. And here we are, the opposition political figures and the opposition political parties in Nigeria are In disarray. There is currently, no unanimity of focus, there is no alignment of key objectives, there seem to be no potential to build up to  a consensus with regard to zoning of the President slot, or where the ADC stands, in terms of its strategy.

    How will ADC  deal with the big egos currently in the ADC? That is another food for thought.

    Good enough just two days ago, the ADC leadership  finally setup a 50-member, Manifesto drafting Committee, to come with a draft of what the ADC has to offer to Nigerians  or what the other political parties have to offer Nigerians show us what they have to offer that could be better what President Bola Tinubu, and the All Progressives Congress (APC) have been doing in the past two and a half to three years. Indeed, in my view, in comparison with previous dispensations, so far this is the most lame and reactive opposition time in the political history of Nigeria

    The current opposition political parties in Nigeria, are yet to have a unity of purpose, talk less of strategy of putting their houses in order, to be able to effectively fight a very entrenched, highly experienced, war-scarred, dominant and incumbent President Bola Tinubu and his political party. And it worries me as a Nigerian because we need an effective opposition to put President Tinubu and APC on their toes as they deliver their mandates at federal and state levels,  so that they can do more. That consciousness will also make the ruling party to know that they have an opposition that can actually compete with them.

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    By the way, many people do not know that I have political experience. As a bit of background about my political antecedents; I was a founding member of the All Peoples Party (APP) in 1998, and I was appointed as the first Information Analyst at the APP National Secretariat, working directly with the National Chairman and the National Secretary (within the National Working Committee). I worked with different Committees including Planning and Organizing Committees, Mobilization Committees, National Convention Committee, the APP Governorship elections Campaign team for late Engineer Magaji Abdullahi, the APP Governorship Candidate for Kano State in the 1999 Gubernatorial elections, etc. I was given level-1 confidentiality clearance and ran political assignments at the highest level. After the Presidential elections, In the second half of 1999, I followed some of my Principals, to switch affiliation to the PDP along with other party chieftains. In the PDP, I was also privileged to work at top levels with the likes of the late Ibrahim Aminu Saleh, and other Party chieftains. One such instance was playing a key role in the emergence of Chief Audu Ogbe as the PDP National Chairman in 2001. Following that development, I became actively involved in partisan politics and undertaking national assignments. In 2005, midway into the second term of Chief Olusegun Obasanjo, I decided to revert back fully to my professional career and stepped away from partisan politics.

     Having been a member of an opposition political party, as well as the ruling party, I understand the mechanics and dynamics of politics and party administration. Since the time I left politics in 2005, interestingly, today, all our political mentors, leaders, and colleagues from 1998 to date are in all the political parties, APC, PDP, Labour Party or NNPP because the politicians have all spread out. And that tells you the kind of politics we have in Nigeria.

    Meanwhile, there is a tension that is building up in the APC and  I have said severally, that the biggest opposition of APC, is the  APC itself , i.e, Complacency, and the sense of entitlement. What to watch out for are the APC ward and state congresses which commence soon. The ADC or any serious political party will put their house in order, tidy up their platforms. Because some people will be looking for where to run to. There is no how the APC go into the presidential election as it is. As a vehicle that is solid without some people having to look for alternatives.

    Many political juggernauts in the APC, will not agree to be given the back seat for the next five years they are going to be there. So the ADC will have to  put it’s house in order, and do the right thing, whatever it is. Because certainly politicians will look for alternative platforms.

    Love him or hate him, President Bola Tinubu and the APC were able to manage various power blocs, egos and interests efficiently and effectively when they were in opposition. President Tinubu played the long game for 15 years building political structures, network and consolidating to get to where he is.

    Furthermore, timing is a critical success factor and I would like to share some strategic perspective in ghat regard,  for the ADC. Let’s go back and look at the timelines:

    Now we are in January, 2026, we are counting down to 2027. If we may recall 2023-2024, when APC was formed during the merger. By March 2013, two clear years agreed of the 2015 general elections, when the legacy parties have agreed to merge, the APC had taken a clear position on zoning, by zoning the presidency was zoned to northern Nigeria. That is very critical. Secondly, by November 2013, they had in their kitty a total of 16 incumbent governors, including the PDP governors that joined the legacy party governors, like the governors Adams Oshiomole (ACN), Tanko Almakura(CPC), Kashim Shettima (ANPP), Ibrahim Gaidam (ANPP), Rochas Okorocha (APGA), all Governor of South West Nigeria (ACN), and 5 Governors that defected PDP to APC. In the January, APC and had over 170 incumbent legislators in the Senate end house of representatives at the National Assembly and majority of the members of the state house of assembly in those 16 states.

    By 2014, the narration, messaging, and strategy of the APC were clear. And they had already started getting the attention of Nigerians.

    Currently, we are in January, 2026 about 1 year to the 2027 general elections, but the ADC yet to be clear about the zoning of the Presidency. And the dramatis Personae in the ADC are busy with the “me, me, me” mentality. What will happen to ADC is in its hands. How the ADC leaders  work in the next three to four weeks to come out with a position to show clearly to Nigerians, first of all, that they have the clarity and unanimity of purpose. Secondly, they have alignment of visions and objectives for Nigerians, and then to the messaging. By June 2026, , if in the next two months, the ADC remains indecisive, it may not be a competitive party in the 2027 general elections, and because of that, the crises ‘ of trust and  confidence will ensue with the domino effect that may scatter the political party before it’s foundation and pillars are even firmly in place.

    Sun Tzu, the great military strategist, stated that, “Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win”. Therefore, any political party that wants win elections and exist for long, must be prepared to be united, proactive, consistent, consolidated, financially capable, and effective. For instance, in the United States of America, power shifts between the Republican Party ,  Democratic Party, etc . In the United Kingdom, the Conservative Party and the Labor Party, etc.

     My parting words for the opposition political figures; United you stand, divided you fragment your votes and make it easy for President Bola Ahmed Tinubu to coast into his second term.  The rhetorical question is, “Will the politicians in the ADC rise above their selfish and/ or parochial interested to actually  do the needful?” Your answers are as good as mine.

  • Lingering poser on Maga kidnap

    Lingering poser on Maga kidnap

    In the early hours of Monday, November 17th, 2025, terrorists struck at Government Girls’ Comprehensive Secondary School, Maga in Kebbi State, and herded off 25 pupils into captivity. The abductees have since been rescued. But it isn’t yet a closed matter, because there was a question about the handling of intelligence that remains.

    On the heels of the abductions, Kebbi State Governor Nasir Idris demanded a probe into sudden withdrawal of security operatives from the school shortly before armed men stormed in to kidnap students. Military personnel had been posted at the school on the strength of Intel obtained ahead of the incident. Speaking in Birnin-Kebbi, the governor described the abductions as particularly unfortunate because the state government received prior intelligence and took proactive remedial steps. “When we received intelligence on a possible attack, we summoned a security meeting. The security agencies assured us that all was well and that personnel would be mobilised to the school,” he said, adding: “Military men were deployed, but they later withdrew by 3:00a.m. and by 3:45a.m. the incident happened.”

    Governor Idris, who spoke at separate audiences with Defence Minister of State Bello Matawalle and Nigeria Labour Congress (NLC) President Joe Ajaero, said the state wanted thorough investigation into circumstances surrounding the security operatives’ withdrawal. “Who authorised the military to withdraw? How did security personnel pull out at such a critical hour? We have asked the military to investigate and identify who gave the order,” he stated.

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    More than two months after, the spurious security manoeuvre remains unexplained. A faith-based civil society group, Muslim Rights Concern (MURIC), lately rehashed the poser, wondering why relevant authorities were yet to make findings from probes into the issue public. MURIC Executive Director, Prof. Ishaq Akintola, in a statement, argued that the governor did his part with the Intel received, just as those who deployed soldiers to the spot. “But somebody somewhere issued a counter-order for withdrawal of soldiers guarding the school.”

    He further stated: “Who could it have been? A fifth columnist within the army? A signals expert among the leadership of the terrorists who succeeded in decoding the military’s signals and subsequently sent a deceitful message to those on guard? By the way, what kind of change of guards ever occur at 3a.m.? If soldiers are to withdraw from guard duty, is it not strange that the departing guards did not wait to see those who would take over from them before leaving? Even ordinary neighbourhood guards know this simple security protocol.”

    Akintola recalled that both Defence Headquarters (DHQ) authorities and the Senate through its committee on security instituted probes into the occurrence. “Nigerians want to know why both DHQ and the Nigerian Senate are yet to make their findings into the mysterious withdrawal public. Nigerians demand transparency in this matter. Heads must roll on this reckless abandonment,” he said inter alia.

    Hardball can’t agree more.

  • Assessing factors driving $51b external reserves target, shaping naira

    Assessing factors driving $51b external reserves target, shaping naira

    Nigeria’s external reserve position is a key indicator of the country’s ability to defend the naira and meet its external obligations. Analysts estimates that at $46 billion, Nigeria’s external reserves presently cover over 12 months imports and could hit $51.04 billion by year end. Factors driving reserves build-up include improved FX inflows, higher oil receipts, increased remittances through official channels and renewed interest from foreign portfolio investors following FX market reforms instituted by the Olayemi Cardoso-led Central Bank of Nigeria (CBN). Overall, strong reserves position will continue to bolster exchange rate and promote financial sector stability, reports Assistant Editor COLLINS NWEZE

    Nigeria’s external reserves have crossed the $46 billion mark for the first time in about eight years, highlighting the steady growth the reserve has been recording since 2025. According to the latest data from the Central Bank of Nigeria (CBN), the country’s external reserve has increased by about $510 million in 22 days, moving from $45.502 billion on December 31, 2025, to $46.012 billion on January 22, 2026.

    Other industry data shows that Nigeria’s external reserves were last at this level on August 27, 2018, when it stood at $45.9 billion. The reserve build-up signals stronger buffers for import cover and currency stability, reflecting steady inflows and improved foreign exchange management since the forex reforms began, as the country prepares for a general election.

    The CBN data also suggests a notable turnaround from the volatility experienced during the early phase of the new forex regime, with the reserves closing at about $45.5 billion in 2025, having opened the year at roughly $40.8 billion.

    Analysts have expressed optimism that the steady growth of Nigeria’s external reserve for several months will be sustained this year. They said that the various reforms by the government have brought stability and confidence, thereby causing improvement in the country’s external reserves. They, however, noted that while the reserves can be sustained in the short term, sustaining the momentum throughout the election year will depend on discipline on the part of the government.

    Things looking up for naira

    The naira, which currently exchanges at N1,421  to dollar at the official market, exchanges at N1,490 to dollar at the parallel market. President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said the  naira has remained stable across market for several months, ending years of volatility in the market.

    Additionally, Managing Director of Financial Derivatives Company (FDC), Bismarck Rewane, estimated the fair value of the naira at about N1,257 to the US dollar. Rewane posits that the local currency is undervalued by approximately 11 per cent when assessed using the purchasing power parity (PPP) model. Rewane made the submission during his keynote address at the 2026 Economic Outlook organised by the Association of Corporate Treasurers of Nigeria (ACTN), where he anchored the session and offered a detailed analysis of the structural and cyclical factors influencing Nigeria’s exchange-rate movements.

    He noted that currencies typically converge towards their PPP-implied values over a five-year horizon. According to him, the appropriate exchange rate based on current PPP estimates stands at N1,256.79 to the dollar, reinforcing the view that the naira remains below its fair valuation level.

    What stakeholders are saying

    The founder/Chief Executive Officer of the Centre for the Promotion of Public Enterprise (CPPE), Dr Muda Yusuf, hinted at a positive outlook for Nigeria’s external reserves as he does not see anything derailing the forex and fiscal reforms that have brought about stability and improvement in external reserves. Yusuf said, ‘’Well, the outlook for me is positive because I don’t see anything derailing these reforms (forex reform, fuel subsidy etc.). It is these reforms that have brought about stability. And it’s this stability that has inspired confidence. It is the confidence that has allowed the improvement in the reserves. The reserves are not so much coming from oil, though. I don’t have the full breakdown. But my sense is that the reserves are coming from largely outside the oil – FDI, portfolio, diaspora flows, non-oil exports etc. Quite a lot is happening outside traditional sources of forex.

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    ‘’So, those things are anchored on reforms. For as long as that is happening and I don’t see that changing, even with the so-called election year or whatever, I don’t see anything changing that in any drastic way.’’

    Other analysts said the growth in the external reserves can only be sustained in 2026 if the Central Bank of Nigeria (CBN) avoids excessive FX intervention, fiscal authorities are restrained from spending pressures and the FX reforms are not reversed. They said, ‘’Historically, election cycles in Nigeria tend to introduce policy uncertainty, FX demand pressure, and capital flow reversals. So, while reserves can be sustained in the short term, maintaining this momentum throughout an election year will depend on discipline.

    Future of external reserves

    The CBN had, in its 2026 Macroeconomic Outlook for Nigeria, projected that Nigeria’s external reserve would rise to $51.04 billion in 2026, supported by stronger oil earnings, foreign exchange (FX) market reforms, and improved external inflows. The apex bank said the outlook reflects higher oil revenues, increased bond issuance, sustained diaspora remittances, FX market reforms, and expanded domestic refining capacity. The CBN stated, “The external reserves is projected at US$51.04 billion in 2026, compared with US$45.01 billion in 2025. The external reserves is expected to be boosted by reduced pressure in the FX market based on the anticipated rise in oil earnings, sovereign bond issuance, and diaspora remittance inflow.’’

    The apex bank linked the positive external reserve outlook to expanded domestic refining, notably the Dangote Refinery’s planned capacity increase to 700,000 bpd in 2025 and a longer-term target of 1.4 million bpd. According to the CBN, increased local refining would reduce Nigeria’s dependence on imported petroleum products, lowering demand for foreign exchange and easing pressure on external reserves.

    The reforms payoff continues

    The FX reforms, instituted by the Olayemi Cardoso-led CBN, new policies instituted by the Federal Government to boost local production, reduce forex demand pressure, and lessen domestic prices have been instrumental to macroeconomic stability. The expectations are that the apex bank sustains the forex reforms while the fiscal authority strengthens efforts at enhancing FX earnings, especially from gas, oil and non-oil exports.

    CBN Governor explained that the rise in foreign reserve marked a significant rebound in Nigeria’s foreign currency buffers amid ongoing efforts to stabilise the exchange rate and rebuild investor confidence. The reserves spike happened despite relatively stronger CBN market intervention this year and external debt servicing as well as weak oil receipts.  Looking ahead, the analysts expect robust FX liquidity from both foreign and local sources, driven by strong market confidence, to continue supporting naira stability in the near term. They also expect headline inflation to ease further in July, supported by a moderation in both food and core inflation components.

    “Specifically, we anticipate the slowdown in food prices to be supported by improved market supply from early green harvests and the relative stability of the naira, which is expected to reduce pressure on imported food prices. Similarly, core inflation is projected to remain broadly stable, supported by a reduced exchange rate pass-through effect and steady energy prices,” they said.

    Multiple FX sources activated

    The CBN under Cardoso is cultivating multiple FX sources to increase dollar inflows, boost dollar access to manufacturers and retail end users. From moves to improve diaspora remittances through new product development, the granting licenses to new International Money Transfer Operators (IMTOs), implementing a willing buyer-willing seller FX model, and enabling timely access to naira liquidity for IMTOs, the apex bank has simplified dollar-inflow channels for authorised dealers and other players in the value chain.

    The move has led to substantial accretion to the gross FX reserves and supported the stability of the naira. Given that FX inflows to the economy are strategic in achieving monetary and fiscal policy stability, the CBN under Cardoso puts in a lot of efforts in attracting more inflows into the economy. Diaspora remittances to Nigeria, estimated at $23 billion annually remain a reliable source of forex to the domestic economy. There are also other sources and policies that are being explored by the apex bank to keep dollar inflows coming.

    The CBN’s initiatives have supported continued growth in these inflows, aligning with the institution’s objective of doubling formal remittance receipts within a year. The remittances in the economy is expected to increase based on  CBN’s ongoing efforts to bolster public confidence in the foreign exchange market, strengthen a robust and inclusive banking system, and promote price stability, which is essential for sustained economic growth.

    Director of Trading at Verto, Charlie Bird, said dollar liquidity dynamic is now more balanced, with foreign investors and airlines able to repatriate funds. Speaking during Cordros Asset Management seminar titled: “The Naira Playbook”, he said Nigeria is now darling of foreign investors because of improved dollar liquidity in the economy due to positive CBN’s reforms.

    As naira stabilises, import costs to dip

    Import costs have been tipped to drop significantly as the naira continues to gain more ground across markets. Importation costs in Nigeria include various taxes and charges, primarily import duties, VAT, and other levies. These costs are calculated based on the CIF value (Cost, Insurance, and Freight) of the goods, which includes the cost of the goods, insurance, and shipping.

    The cost, insurance and freight (CIF) price is the price of a good delivered at the frontier of the importing country, or the price of a service delivered to a resident before the payment of any import duties or other taxes on imports or trade and transport margins within the country. Changes in exchange rate can significantly impact the cost of imports, as duties and other charges are often calculated based on the prevailing exchange rate.

    Nigeria’s total Imports in 2024 were valued at $40.97 billion, according to the United Nations COMTRADE database on international trade. Nigeria’s main import partners were: China, Belgium and India. New figures from the National Bureau of Statistics (NBS) reveal that Nigerian imported food and beverages worth N1.67 trillion ($1 billion) during the first quarter of 2025 (January–March), reflecting a five per cent increase from the N1.59 trillion recorded over the same period in 2024.

    Analysts from Cordros Securities said the naira appreciation helped cushion the impact of the spike in imported fuel prices triggered by tensions in the Middle East. “We expect FX liquidity to remain robust, supported by reduced global pressures and stronger market confidence, which continues to attract inflows from foreign portfolio investors (FPIs). Additionally, a stronger net FX reserve position enhances the CBN’s capacity to intervene when necessary. Barring any unexpected shocks, we anticipate that the naira will remain stable in the near term,” they said.

    While Nigeria is making strides toward fuel self-sufficiency, it still relies on imports, as seen in the reduced import bill for the first quarter. This indicates a decline in fuel imports but not a complete elimination.

  • Five strongest currencies in Africa as of January 2026

    Five strongest currencies in Africa as of January 2026

    The strongest currencies in Africa in 2026 are more than just numbers on a chart, they reflect stable economies, sound monetary policies, and growing investor confidence.

    Several African countries have maintained strong currencies against the U.S. dollar, reflecting various degrees of fiscal discipline, monetary policy effectiveness, and economic structure.

    Currency strength remains a vital indicator of a country’s economic stability and overall financial health.

    According to the Forbes currency calculator, the following are the five strongest African currencies as of January 2026 against the US Dollar.

    1. Tunisia – Tunisian Dinar (TND)

    Exchange Rate: 2.86 TND per USD
    Tunisia continues to lead as the African country with the strongest currency. The Tunisian Dinar’s strength is largely supported by strict exchange control measures and inflation management, even amid ongoing political and economic challenges.

    2. Libya – Libyan Dinar (LYD)

    Exchange Rate: 6.31 LYD per USD
    Despite years of political unrest, the Libyan Dinar remains notably strong. This resilience is primarily due to Libya’s abundant oil reserves, which generate substantial foreign exchange revenue.

    3. Morocco – Moroccan Dirham (MAD)

    Exchange Rate: 9.01 MAD per USD
    The Moroccan Dirham benefits from the country’s stable macroeconomic policies, economic diversification, and prudent monetary governance. Morocco’s growing appeal to foreign investors, especially in the renewable energy sector, also bolsters its currency.

    Read Also: FG approves ₦1 trillion metro rail service for Kano

    4. Ghana – Ghanaian Cedi (GHS)

    Exchange Rate: 10.84 GHS per USD
    While the Ghanaian Cedi has experienced volatility, recent economic reforms and support from the IMF have introduced a measure of stability. Government initiatives to rein in inflation and manage public debt are beginning to yield positive outcomes.

    5. Botswana – Botswana Pula (BWP)

    Exchange Rate: 13.05 BWP per USD
    The Botswana Pula stands out as one of the strongest currencies in Sub-Saharan Africa. Sound governance, effective fiscal policies, and a balanced reliance on diamond exports have helped maintain its strength.

  • 10 ways to get fit without the gym

    10 ways to get fit without the gym

    Getting in shape isn’t about punishment or drastic changes; it’s about building sustainable habits that nourish the body and mind. Experts say the goal is to move more, eat better most of the time, and create a lifestyle that can be maintained in the long run.

    Here are 10 effective ways to get in shape without a gym:

    1. Bodyweight Exercises: Squats, push-ups, lunges, planks, and burpees are great for building strength and toning muscles.

    2. Cardio: Jumping jacks, jogging in place, and dancing can get your heart rate up and burn calories.

    3. Yoga and Stretching: Improve flexibility and balance with yoga poses and stretching exercises.

    4. HIIT (High-Intensity Interval Training): Short bursts of intense exercise followed by rest periods, like burpees or jump squats.

    Read Also: Prolonged financial burden on wives may strain marriages, says clergyman

    5. Daily Activities: Turn household chores into workouts, like vacuuming or gardening.

    6. Walking or Running: Explore your neighborhood or a nearby park for a low-impact exercise.

    7. Dancing: Put on your fave music and groove your way to fitness.

    8. Stair Climbing: Use your stairs for a cardio boost.

    9. Indoor Obstacle Course: Create a fun obstacle course using household items.

    10. Play with Kids/Pets: Get active with your loved ones.

  • Senate orders fresh review of Electoral Act amendments, sets up 48-hour ad hoc panel

    Senate orders fresh review of Electoral Act amendments, sets up 48-hour ad hoc panel

    The Senate on Thursday constituted an ad-hoc panel to work with its Committee on Judiciary and Legal Matters to re-examine contentious provisions in the report on amendments to the Electoral Act 2022.

    The Judiciary and Legal Matters Committee is chaired by Senator Adeniyi Adegbonmire while the original report under review was prepared by the Senate Committee on Electoral Matters led by Senator Simon Lalong.

    Senate President Godswill Akpabio announced the decision after lawmakers emerged from a three-hour closed-door session where they undertook an extensive review of the Lalong committee’s report.

    The report had initially been scheduled for debate on Wednesday, but deliberation was stepped down due to the absence of the committee chairman, Lalong, a former governor of Plateau State.

    At the close of plenary on Wednesday, Akpabio informed senators that copies of the report would be circulated to enable them study it ahead of deliberations the following day.

    However, proceedings took a different turn at the start of plenary on Thursday when the Senate President called for an executive session to allow members discuss the document privately.

    Briefing senators after the closed session, Akpabio said the report would undergo further scrutiny to harmonise differing views and address grey areas identified during the deliberations.

    He disclosed that the newly constituted adhoc panel would sit for 48 hours and present its recommendations on the third legislative day for consideration at plenary.

    Members of the panel, drawn from ranking senators, include Adamu Aliero, Aminu Tambuwal, Adams Oshiomhole, Danjuma Goje, Tony Nwoye and Titus Zam. The Clerk to the Senate, Emmanuel Odo, would serve as secretary to the panel.

    Following the announcement, the Senate adjourned plenary till Tuesday next week to await the panel’s report.

    Meanwhile, a copy of the report obtained by The Nation shows that top on the amendments to be considered by the Adhoc committee is the provision for the electronic transmission of election results to the Independent National Electoral Commission Results Viewing Portal (IREV) after collation.

    One of the major proposals in the report is a provision mandating the Independent National Electoral Commission (INEC) to electronically transmit results from polling units to the INEC Result Viewing Portal (IREV) immediately after vote counting.

    Read Also: Senate to hold closed-door briefing on US airstrikes in Sokoto

    Also a new clause  3 has been introduced on page 45 of the Electoral Act 2022 (Amendment) Bill, 2025, aimed at curbing result manipulation and ballot box snatching.

    The proposed provision states: “INEC shall electronically transmit election results from each polling unit to the IREV portal in real time, and such transmission shall be done simultaneously with the physical collation of results.”

    The committee further introduced a new subsection (2) to clause 71, making it an offence for presiding officers to fail to sign and stamp ballot papers and the results announced by them.

    In addition, clauses 47(2) and (3) were amended to replace the term “smart card reader” with “Bimodal Voter Accreditation System (BVAS),” in line with current electoral practice.

    To address abuse of the voting process involving persons with disabilities, the report amended Clause 54(1) to bar political party agents, candidates or officials from accompanying visually impaired or incapacitated voters into the voting compartment.

    The committee also recommended stiffer penalties for vote trading or the buying and selling of Permanent Voter Cards (PVCs), proposing an increase in the fine prescribed in clause 22 from N500,000 to N5 million.

    On page 9 of the report, clause 10 of the Bill was amended for inclusion of new paragraph “(c) National Identification Number (NIN)” to check registration of illegal immigrants in the continuous voter registration exercise.

    On submission of list candidates and their affidavits by political parties, Clause 29 on page 27 of the report was amended with the inclusion of sub clause

    (7) and (9) as follows:

    “(7) Notwithstanding the provisions of subclause (6), where the election has been held, the court shall direct the Commission to declare the candidate with the second highest number of valid votes who satisfies the constitutional requirement, as the winner of the election.

    “(9) A candidate who does not meet the qualification stipulated in this clause, and presents himself to a political party, commits an offence and is liable on conviction to a fine of not less than N5,000,000.

    Clause 31 on withdrawal of candidate contained in page 29, was amended by the redraft of the entire provision to ensure that withdrawal of candidates is done with sworn affidavit in order to check arbitrariness.

    On format of ballot papers contained in page 35, clause  42 (3) was amended by increasing the number of days within which a party is expected to inspect its identity appearing on samples of relevant electoral materials proposed for an election from 20 days to 60 days.

    On the provision for Polling Agents in page 36, clause 43 now 42 was amended to give candidates power to nominate polling agents: “Each candidate in consultation with his political party may, by notice in writing addressed to the Resident Electoral Commissioner of the state, appoint a polling agent for each polling unit and collation centre in the Local Government Area or Area Council for which it has candidate and the notice.”

    On post-election procedure and collation of election results new subclauses (3) – (9) were introduced to ensure the credibility of collation of results.

    Also decision of returning officer on ballot paper/declaration and return of candidate, the marginal note of clause 65 was amended and subclause (2) was substituted with new provisions.

    For political parties to be bodies corporate, a new subclauses (2) –  (7) were introduced to section 77 to ensure that proper records of memberships of political parties are kept.

    Also on notice of convention and congress contained on

    page 65, Clause 82(2) was amended to make notices very specific.

    “The notice shall specify the date, time, venue and names of the members of the congress, convention or conference committee as spelt out in the party’s constitution,” the committee said.

    On indirect primaries, new subclauses (2) – (9) were introduced to Clause 87 in order to ensure that all the political actors participate in the nominations of candidates, in line with global standards.

    The committee recommended that political appointees will not be eligible as a voting delegate or aspirant in Clause  89 (3) and (4).

    Sub Clause (3) was repealed to say “where court finds that a political party failed to comply with the provisions of this Bill in the conduct of its primaries, its candidate for election shall not be included in the election for the particular position in issue.

    Subsection (4) was also repealed to say, “A person that financially or materially induces a delegate for the purpose of influencing the conventions commits an offence and is liable on conviction to imprisonment to a term of two years without an option of fine.”

    On limit of election expenses

    Clause 93 was amended by increasing expenses to be incurred while vying for different electoral positions and by placing a limit on such expenses.

    Also Clause 94 was amended to control election expenses of political parties.

    In addition, on offences in respect of nomination contained in Clause 120 (2) on page 115, the punishment for the offences of nomination has been increased from N50,000,000 to N75,000,000 to deter perpetrators.

  • Halima Abubakar seeks help for brain tumour surgery, accommodation

    Halima Abubakar seeks help for brain tumour surgery, accommodation

    Actress Halima Abubakar has renewed her public appeal for financial assistance, saying she urgently needs funds to undergo brain tumour surgery while grappling with homelessness and mounting medical bills.

    During a recent live broadcast, the actress disclosed that she has been diagnosed with a brain tumour and was recently forced out of her residence, a development she said has left her “homeless and desperate”.

    She explained that her situation worsened after she exhausted her savings to pay for her mother’s hernia surgery, which cost N9 million in October last year.

    Abubakar said she attempted to use money earlier contributed for her medical treatment to settle her rent but was turned away by her landlady, leaving her without accommodation.

    In an emotional plea, she called on prominent individuals and the public for support, directly mentioning Yahaya Bello, former governor of Kogi State; social media activist VeryDarkMan; and Seyi Tinubu, son of President Bola Tinubu, saying, “I need your help”.

    “I have just been evicted from my house. I have been diagnosed with a brain tumour. Yesterday, my caretaker came to tell me to leave the house. The money contributed for my health, which I wanted to use to pay my rent, was rejected by my landlady,” she said.

    “Do they want me to kill myself? From one situation to another, I have packed all my belongings and I have nowhere to go. I do not want to kill myself.

    “Yahaya Bello, VDM, Seyi Tinubu, everyone, I need your help. I have nobody. I cannot even reach any celebrities; none of them is answering my calls. I called Don Jazzy, but there was no response. What did I do?

    “I have a brain tumour. Nigerians, please help me. What have I done that everyone is turning their back on me? I withdrew my surgery money to pay my rent, but my landlady refused to accept it. I need help from Nigerians for money to handle many things.

    “I would not have come out to seek help if not for my mother’s hospital bill, which I paid in October. It was N9 million for her hernia surgery, and I am still owing.”

    Read Also: Bisola Badmus reveals three-year battle with brain tumour

    The actress also pushed back against allegations that she was exaggerating her condition to solicit sympathy or money, insisting that her health challenges are real.

    “Only a mad person would lie about being sick. It is embarrassing and heartbreaking that people think I am lying. I am coming out publicly to seek help because I have asked people around me and received none. I am ashamed to do this, but it is my only option,” she added.

    Providing further details of her condition, Abubakar said she now requires about N25 million to cover surgery, post-operative care, accommodation, and daily living expenses.

    “I have nothing to my name anymore except the money contributed for my surgery. I have suffered too much.

    “I need the help of my state governor. I need enough money for my surgery. My spleen needs to be removed. I need accommodation and feeding. I relocated to Abuja to be close to the hospital, Turkish Hospital. I have been on medication for a year now. I need N25 million for my health.”

    This is not the first time the actress has sought public assistance.

    In February 2025, she appealed to the Kogi State government for help, although she did not then reveal details of her illness. In 2022, Abubakar announced her withdrawal from acting, citing health-related challenges.

  • Kano Reps member Bichi rebuilds school, hires 180 teachers

    Kano Reps member Bichi rebuilds school, hires 180 teachers

    Hon. Abubakar Kabir Abubakar Bichi, Member of the House of Representatives for Bichi Federal Constituen-cy, Kano State, and Chairman of the House Committee on Appropriation, has commissioned the reconstructed Hagagawa Mega Primary School in Bichi Local Government Area.

    Hagagawa Primary School, which was established in 1930, had fallen into a state of serious disrepair and was on the verge of collapse before the comprehensive reconstruction.

    In addition to the school project, the lawmaker announced the employment of 180 additional classroom teachers, who will be deployed across primary schools in Bichi Local Government Area to strengthen teaching capacity.

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    With this latest engagement, the total number of teachers employed by Hon. Bichi has increased to 500, each earning a monthly salary of ₦60,000. This brings his monthly expenditure on teachers’ salaries to ₦30 million, amounting to ₦360 million annually.

    Speaking at the commissioning ceremony, Bichi reaffirmed commitment to improving education infra-structure, pledging to construct similar model schools in Danzabuwa (Bichi North), Saye (Bichi East) and Ci-ranci communities.

    Teachers’ and students’ associations across the local government commended the lawmaker for his sustained investment in education and human capital development.

    As part of the reconstruction, Bichi provided upgraded classrooms, a computer laboratory, a modern library, recreational facilities, and a mini-stadium designed to promote sports and extracurricular activities among pupils.