Category: Featured

  • Tinubu expected back Tuesday

    Tinubu expected back Tuesday

    Barring any adjustment in schedule, President Bola Ahmed Tinubu will return to Abuja today.

    Special Adviser to the President on Information and Strategy, Bayo Onanuga, said in a statement yesterday that his boss would shorten his work vacation in France.

    The President departed for France on September 4, 2025 to spend part of his annual holiday.

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    He was billed to divide his 10-day holiday between France and the United Kingdom (UK).

    Last week in Paris, he held a private luncheon with his French counterpart President Emmanuel Macron at the Élysée Palace.

    Both leaders reviewed key areas of cooperation between Nigeria and France and agreed to deepen the partnership for mutual prosperity and global stability.

  • Inflation slides on stable economic growth, low food prices

    Inflation slides on stable economic growth, low food prices

    • CPI drops to 20.12% for fifth consecutive month

    Average cost of goods and services continue to improve with headline inflation rate declining for the fifth consecutive time to 20.12 per cent.

    The National Bureau of Statistics (NBS) yesterday released its latest Consumer Price Index (CPI) Report showing that headline inflation rate dropped by 176 basis points from 21.88 per cent in July to 20.12 per cent in August.

    The latest was the fifth consecutive decline since April and overshot average projections, although analysts had almost unanimously expected the disinflationary trend to continue. Analysts had projected deceleration of some 50 basis points.

    The CPI report showed that food inflation dropped by 87 basis points from 22.74 per cent in July to 21.87 per cent in August. The decline in food inflation was attributed to decrease in average prices of basic food items including rice, guinea corn flour, maize flour sold loose, sorghum, millet, semolina and soya milk among others.

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    Also, core inflation, which comprised of all items excluding farm produce and energy, dropped by 100 basis points from 21.33 per cent in July to 20.33 per cent in August.

    The NBS had reported that headline inflation rate eased by 34 basis points to 21.88 per cent in July from 22.22 per cent in June. Inflation rate had dropped from 22.97 per cent in May to 22.22 per cent in June, an improvement of 75 basis points.

    Headline inflation rate had improved by 52 basis points to 23.71 per cent in April on the back of reduced food inflation. Composite inflation had for the first time after the January rebasing, risen by 105 basis points to 24.23 per cent in March as against 23.18 per cent recorded in February.

    A breakdown of the latest CPI report also concurrence between the monthly and annual trends, underlining analysts’ consensus that the disinflationary trend was related to macroeconomic gains.

    Bismarck Rewane’s Financial Derivatives Company (FDC) stated that the continued decline in headline inflation was partially due to the harvest season, increased consumer resistance and stability in the foreign exchange (forex) market.

    “The monthly inflation, which is more reflective of market realities, fell sharply by 1.25 per cent to 0.74 per cent, partly due to the harvest season and reduced aggregate demand. The magnitude of the decline indicates that the boost in output due to the harvest may have been significant,” FDC stated.

    FDC expected uniform pricing of refined products to further ameliorate inflationary pressures.

    According to FDC, the recently commenced free fuel distribution is expected to further ease inflationary pressures in the coming months.

    FDC however noted that Nigeria’s inflation rate is also driven by exchange rate volatility and structural bottlenecks and unless these challenges are addressed, the overall impact may be muted.

    Analysts at CardinalStone said they expected the disinflation trend to continue citing the improvement in overall macroeconomic environment.

    “The positive pass-through of the strengthening currency to inflation is likely to persist in September, with the official rate currently trading below N1,500.00 per dollar and having appreciated by 2.4 per cent month-to-date. The improving forex narrative reflects stronger fundamentals, especially with the current account coasting in the surplus territory, which has helped the forex reserves to reach $41.7 billion. Foreign portfolio inflows (FPI ) inflows also remained net positive as Nigeria’s carry trade, the highest in Africa, remains attractive,” CardinalStone stated.

  • Presidency rebukes Atiku’s ‘revolution’ claim, says Nigeria making steady progress

    Presidency rebukes Atiku’s ‘revolution’ claim, says Nigeria making steady progress

    The Presidency on Monday dismissed former Vice President Atiku Abubakar’s warning of an imminent revolution in Nigeria due to hunger, describing it as alarmist rhetoric rooted in outdated thinking.

    In a statement by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency said Atiku and his party remain “stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric,” even as the country records notable progress under President Bola Ahmed Tinubu’s administration.

    “Talk is cheap. Former Vice President Atiku Abubakar and his handlers are clearly out of touch with the positive developments currently unfolding in our country. Their claim that hunger is ravaging Nigeria, and their comparison of our situation to the unrest in France before the 1789 Revolution or the 1917 Bolshevik Revolution in Russia, is grossly misleading,” the statement reads. 

    The Presidency highlighted that recent data from the National Bureau of Statistics (NBS) paints a different picture from Atiku’s claims. 

    READ ALSO; Tinubu ends Vacation, returns to Abuja ahead of schedule

    It noted that headline inflation has now declined for five consecutive months, while the country recently posted a record trade surplus, with non-oil exports contributing nearly equally to the trade balance at a 48:52 per cent ratio compared to crude oil.

    Onanuga added that Nigeria’s foreign reserves, which stood at $32 billion when Tinubu assumed office—much of it encumbered—have risen to almost $42 billion after clearing more than $7 billion in arrears, including $800 million owed to airlines.

    “Under President Tinubu, Nigeria is recording unprecedented revenues. States are now able to pay salaries and gratuities promptly and still have surplus funds for capital and social projects—an achievement not previously witnessed at this scale,” the statement said.

    The Presidency stressed that the government is correcting errors inherited from the People’s Democratic Party (PDP) era, when Atiku was Vice President, through bold reforms that are already yielding results.

    “After just two years and five months in office, we are proud of the progress being made under President Tinubu’s leadership. Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation,” Onanuga stated.

  • JUST IN: Inflation drops to 20.12% in August – NBS

    JUST IN: Inflation drops to 20.12% in August – NBS

    …as food costs decline

    The National Bureau of Statistics (NBS) has said headline inflation declined to 20.12% in August 2025 from 21.88% in July 2025.

    NBS attributed the reduction to the lower cost of foods, electricity, gas, and transportation.

    This was contained in its document titled: “Consumer Price Index (CPI) 2025.”

    The document said, In August 2025, the Headline inflation rate eased to 20.12% relative to the July 2025 headline inflation rate of 21.88%.”

    According to NBS, the CPI rose to 126.8 in August 2025, reflecting a 0.9-point increase from the preceding month (125.9).

    Read Also: CBN to sustain monetary tightening as inflation pressures persist — Cardoso

     Looking at the movement, said NBS, the August 2025 Headline inflation rate showed a decrease of 1.76% compared to the July 2025 Headline inflation rate.

    It further noted that on a year-on-year basis, the Headline inflation rate was 12.03% lower than the rate recorded in August 2024 (32.15%).

     The Bureau said, “On a month-on-month basis, the Headline inflation rate in August 2025 was 0.74%, which was 1.25% lower than the rate recorded in July 2025 (1.99%). This means that in August 2025, the rate of increase in the average price level was lower than the rate of increase in the average price level in July 2025.”

  • BREAKING: Amusan wins Silver in 100m hurdles at World Championships

    BREAKING: Amusan wins Silver in 100m hurdles at World Championships

    Nigeria’s Tobi Amusan has secured a silver medal at the Tokyo 2025 World Championships, reaffirming her place among the world’s elite hurdlers.

    Amusan stormed to second place in the women’s 100m hurdles final on Monday, clocking an impressive 12.29 seconds.

    The race was won by Switzerland’s Ditaji Kambundji, who set a new national record of 12.24 seconds, while the United States’ Grace Stark clinched bronze in 12.34 seconds.

    Another American, Masai Russell, narrowly missed out on the podium, finishing fourth with a time of 12.44 seconds.

    The medal marks another milestone for Amusan, who has consistently flown Nigeria’s flag high on the global stage.

    Building on her strong semifinal run of 12.36 seconds, the former world record holder demonstrated grit and determination to secure a spot on the podium in a highly competitive field.

  • Six feared dead in fresh Plateau killings

    Six feared dead in fresh Plateau killings

    Gunmen on Sunday night reportedly killed six persons at Ikn’gwakap community of Mushere Chiefdom in Bokkos local government Council of Plateau state.

    Eyewitnesses said the gunmen stormed the community at midnight and started shooting sporadically.

     It was gathered that several homes were razed by the rampaging gunmen.

    A statement by the National Publicity Secretary of Mushere Youth movement Kutyil Gashion Nahum confirmed the sad development.

    The statement reads: “On the night of Sunday, 14th September, 2025, about six innocent persons  including women and children  were brutally murdered in their sleep in Ikn’gwakap, the Headquarters of Mushere Chiefdom. 

    “Several others remain missing, leaving families in fear, trauma, and uncertainty.

    Read Also: Benue, Plateau killings: Suspect pleads guilty to illegal arms possession

    ” It  is alarming and unacceptable that despite repeated attacks on Mushere communities, not a single perpetrator has been arrested or neutralized. 

    “This persistent failure highlights the urgent need for a total overhaul of the security architecture in the area.

    “We therefore call on the government at all levels to rise to its constitutional duty of protecting lives and property. The continued silence and inaction only embolden terrorists to perpetrate more violence on defenseless communities.

    “While demanding immediate and decisive action, we equally urge all citizens across Mushere and Bokkos to remain vigilant, united, and proactive in safeguarding their communities, even as we continue to press peacefully and firmly for justice and lasting peace.

    “The blood of our people must not continue to be shed in vain. 

    “The time for decisive action is now,the statement further.”

  • Why North will vote Tinubu, by Niger State Governor Bago

    Why North will vote Tinubu, by Niger State Governor Bago

    Niger State Governor Mohammed Bago yesterday explained why the North will vote for President Bola Ahmed Tinubu in the 2027 general election.

     He said the President has lived to expectation by implementing his campaign promises.

     Bago, who spoke on the state of the nation on Television Continental (TVC), said he is ready to be the campaign manager for President Tinubu because he has done a lot for the North and the country.

     “As far as we are concerned, it is Asiwaju for 2027; there is no going back,” said Bago, who also emphasised the primacy of rotation.

     He said it is proper for the South to retain power till 2031 in the spirit of zoning, equity and fairness.

     In recent times, prominent northerners, including former Kaduna State Governor Nasir El-Rufai and his Sokoto counterpart, Senator Aminu Tambuwal, said the North would not endorse the President for re-election.

     But Bago said Nigerians would be shocked by the way the North would vote massively for the President.

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     The governor, who is a stalwart of the ruling All Progressives Congress (APC), said the song waxed for the President is trending in the North, adding that the mobilisation is being intensified.

     Bago said northern governors are able to embark on people-oriented developmental projects in their states because they now receive more allocations from the Federation Account.

     He said: “I have made myself the director-general of the campaign for President Bola Ahmed Tinubu in 2027, and the headquarters of the campaign is here (Niger State). There is no going back about that.

     “The President has the prerogative to appoint anybody as campaign manager, but as far as I am concerned, this is what our people are doing.”

     The governor said the people of Niger State had decided to support President Tinubu’s re-election bid in recognition of the principle of rotation, which gives the North and South a sense of belonging and fosters peaceful co-existence.

     He stressed: “In Niger State, there is no dissenting voice. Nigeria is coexisting peacefully because we have decided to embrace a kind of rotation in governance; the North will do eight years, the South will do eight years.

     “He (President Tinubu) is just two years in office and you are saying it should come back to the North. How? We had opportunities.

     “So, we will continue to support the President; my people and my state, and we will also go to other states.”

     Bago urged northerners, who aspire to rule the country, to wait till 2031 to realise their ambition.

     He added: “When he (President) finishes his eight years, power will come to the North and northerners, who want to contest, can then contest.”

     Support for President Tinubu also swelled at the weekend, when, during a meeting, former presiding officers at the National Assembly, like  former Senate President Ken Nnamani, former Speakers Patricia Etteh and Yakubu Dogara expressed their interest in his candidacy. 

  • Build on seed of reconciliation, Ibas tells Fubara, lawmakers

    Build on seed of reconciliation, Ibas tells Fubara, lawmakers

    • ’Rivers cannot afford another protracted political crisis’

    Rivers State Administrator Ibok-Ete Ibas yesterday admonished the political gladiators in Rivers State to build on the seeds of reconciliation planted during the emergency rule, to lift the state.

    According to him, the state cannot afford another protracted political crisis.

    He urged politicians and other stakeholders to learn from the lessons of the period, sheathe their swords, and embrace peace, reconciliation and unity.

    The administrator spoke during the interdenominational thanksgiving organised by the Rivers Government at the Ecumenical Centre in Port Harcourt, the state capital, as part of the activities to usher in the restoration of democratic structure on Friday.

    Following political crisis, President Bola Ahmed Tinubu suspended Governor Siminalayi Fubara and the House of Assembly on March 18 for six months.

    During the period, the political gladiators hammered out an agreement. Local Government elections were successfully held and the winners sworn into office.

    The House of Assembly complex that was demolished during the political crisis, has been rebuilt.

    The service was attended by Chief Judge, Simeon Amadi, heads of security agencies, traditional rulers, local government chairmen and some captains of industry.

    Prayers were offered for Ibas, Rivers State and the country at the thanksgiving conducted by  Pastor Ogan Barasin, Rev. Eferebo Joseph and Pastor Lenwi Michael at the Chapel of Everlasting Grace, Government House.

    On Thursday, the administrator will vacate the Government House and Governor Fubara and members of the House of Assembly will return to office on Friday, marking the end of the emergency.

    During the emergency rule, the administrator was responsible to the Federal Government.

    Ibas, who was accompanied by his wife, Theresa, recalled the circumstances that led to the state of emergency and his appointment as the Administrator.

    Read Also: Be patient with Tinubu’s reforms, prosperity will come — Akpabio tells Nigerians

    He said: “Six months ago, His Excellency President Bola Ahmed Tinubu, declared a state of emergency in Rivers State. At that moment, our beloved state stood at a crossroad, torn by divisions, instability and broken trust.

    “By God’s grace and with the support of Mr President and all of you, we have walked through those difficult days together.

    “Today as a people we return thanks to God for preserving our lives, granting us peace and allowing the successful conduct of the local government elections across the state and thus laying the foundation for the return of democratic governance in Rivers”.

    The administrator noted that God kept Rivers and ensured that it survived the turbulent period, which impacted on the political, social and economic activities of the state.

    Ibas said the seeds of reconciliation had been planted, urging the stakeholders to make the necessary sacrifices required to nurture the seeds.

    Describing the Ecumenical Centre as the symbol of unity, the administrator said Rivers people must rise above bitterness, rivalries and self interest to pursue the greater good of the state.

    He said politics should not be an excuse to destroy the state, adding that the progress and prosperity of the state must be placed above selfish considerations.

    Ibas said: “Truly, it was God who kept Rivers State. This service is a solemn testimony of God’s faithfulness to Rivers. We have survived storms, political, social and economic and through it all God has been faithful. The seeds of reconciliation has been planted. These seeds need your deliberate nurture.

    “Our collective sacrifices and commitment to peace is what we must all strive to guide at this time. This Ecumenical Centre is in itself a symbol of unity; different denominations under one roof. Rivers people must rise above bitterness, rivalries and self interest to pursue the greater good of our state.

    “The progress and prosperity of Rivers must be placed above personal and partisan interest. I make a special appeal to our political actors; sheathe your swords. Politics must never be an excuse to destroy the very state you are called to serve. The progress and prosperity of Rivers must be placed against personal or partisan interest.”

    He added: “Rivers state cannot afford another session of division and acrimony. We must forgive one another and reconcile with sincerity and embrace tolerance. Let us remember that no political victory or personal gains is worth the blood of our brothers and sisters. Let us forgive; let us reconcile and let us heal. For where there is progress and where there is love there is prosperity”.

    Ibas urged the youths to avoid violence and channel their energy into building and sustaining the peace.

  • No going back on free fuel distribution, says Dangote

    No going back on free fuel distribution, says Dangote

    • ‘We offer cheaper fuel despite importing 60% of crude’

    Recent attacks against Dangote Petroleum Refinery from some associations in the oil and gas industry were orchestrated to derail the planned free fuel distribution logistics initiative, the management of Dangote Refinery said last night.

    It however foreclosed backtracking on the initiative, adding that the attacks lack genuine and patriotic concerns.

    In a statement last night, the Refinery said the position of National Union of Petroleum and Natural Gas Workers (NUPENG) and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) lacks legitimacy and has nothing to do unionisation as being claimed.

    “Their position”, according to the statement , “have made it abundantly clear that the actions and threats issued by them is  not borne out of legitimate concerns about unionisation, but a calculated campaign of economic sabotage that is orchestrated by vested interests who perceive progress as a threat to their entrenched positions.”

    Reacting to a press statement by DAPPMAN, which was published, in some newspapers at the weekend, Dangote Refinery accused the association of misleading Nigerians, noting that their claims were contradicted by established facts.

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    The statement by Dangote Refinery reads: “In January 2022, the Nigerian National Petroleum Company (NNPC) reported that one of DAPPMAN’s members had supplied petrol containing over 15% methanol, well above acceptable limits (Methanol which is not a standard industry practice or procedure for refinery, but blenders use it to prompt up the octane rating to an acceptable level that is well above anti-knocking ratio).

    “The result was widespread engine damage for thousands of end users. Yet, no transparent government inquiry or independent investigation was ever conducted to determine the source, intent, or full impact of the adulterated fuel.”

    The refinery also described as incorrect, the claim that the price of petrol in Togo is lower than in Nigeria. It revealed that the average pump price in Lomé stands at approximately 680 CFA francs per litre, equivalent to N1, 826.

    “This figure reflects the very scenario that DAPPMAN and its affiliates appear to advocate for in Nigeria. The Dangote Refinery has positioned Nigeria as a primary source of affordable petrol feedstock for West Africa, despite the refinery importing over 60% of the crude oil it processes. Remarkably, the refinery is able to offer petrol at prices below the international benchmark within the sub-Saharan region.

  • Botswana president names Nigerian Gumel Board chair, Sovereign Wealth Fund

    Botswana president names Nigerian Gumel Board chair, Sovereign Wealth Fund

    Botswana President Advocate Duma Gideon Boko has named Nigeria’s Farouk Gumel as maiden Chairman, Board of Directors of the newly-created Botswana Sovereign Wealth Fund (BSWF) Limited.

    Mr. Gumel is the Vice Chairman of Tropical General Investments (TGI) Group and immediate past Chairman of the Nigerian Sovereign Investment Authority (NSIA).

    The Botswana leader launched the multi-billion-dollar BSWF last week at the President’s Office in Gabarone, Botswana.

     President Boko underscored the significance of this step, placing it at the heart of his government’s vision for economic diversification and long-term resilience:

    He said: “The launch of the Botswana Sovereign Wealth Fund represents an investment in the future of our country. It is about creating jobs, driving growth, and ensuring that our nation’s wealth works for all Batswana.

    Read Also: Be patient with Tinubu’s reforms, prosperity will come — Akpabio tells Nigerians

    “This is a foundation upon which we will diversify our economy, open new frontiers of opportunity, and build lasting prosperity for future generations. We are sending a message to the world that Botswana is ready to compete, invest, and lead.”

     The BSWF is designed to reduce the nation’s historical reliance on diamond mining by channeling resource revenues into strategic investments across diverse sectors such as infrastructure, technology, healthcare, and renewable energy. It is believed the fund will be amongst the largest in Africa.

     Gumel will chair a deeply-experienced and diverse board, selected to provide comprehensive and strategic oversight. The board’s composition reflects a powerful blend of local expertise and global vision, uniting key national and international figures.

    Head of Service to the Government of Botswana Ms. Emmah Peloetletse, who doubles as Secretary to the President and Cabinet of Botswana has been appointed as BSWF vice chairperson.

    Ms. Peloetletse is also the Chairperson of Debswana, the world’s largest diamond mining company.

    Other members of the board include Ms. Malebogo Mpugwa, Chief People Officer at De Beers Group, the worlds leading diamond company; Mr. Anil Dua, Co-founder of Gateway Partners and Non-Executive Director of Afreximbank; Mr. Boingotlo Toteng, Senior Managing Partner of Toteng & Company and Legal Advisor on Presidential Affairs; Mr. Sunil Sabharwal, former U.S. Executive Director to the IMF; Mr. Lesego Caster Moseki, Deputy Governor of the Bank of Botswana; and Mr. Rizwan Desai, Managing Partner of Desai Law Group and former Chairman of the Botswana Stock Exchange.

    Together, this board represents a powerful blend of national leadership, international investment expertise, and corporate governance experience, ensuring the fund is equipped with both global insight and local depth.

    In his role as Chairman, Mr. Gumel will lead the board in setting the fund’s investment strategy, governance framework, and risk management policies. His extensive experience at the NSIA, capital markets and manufacturing will be instrumental in guiding the BSWF towards achieving its dual mandate of financial returns and positive national impact.

     Upon his appointment, Gumel stated: “As a sovereign wealth fund, we are setting our sights on a future built on transparency, good governance, and a steadfast dedication to Botswana’s prosperity. The Board is committed to delivering lasting value, seeking global opportunities and investing for the future”.

     The launch of the fund and the appointments of a qualified board drew widespread acclaim from economic analysts, who see it as a signal of Botswana’s serious commitment to prudent fiscal management and attracting top-tier global investment expertise.