Category: Featured

  • PDP knocks out Saraki, Bala from 2027 presidential race

    PDP knocks out Saraki, Bala from 2027 presidential race

    • Wike: zoning to South vindicates me
    • Jonathan, Makinde, Obi on the radar

    Yesterday’s zoning of the Presidential ticket to the South has effectively ended the ambition of former Senate President Bukola Saraki and Bauchi State Governor Bala Mohammed on the platform of the Peoples Democratic Party (PDP).

    The decision was taken at the National Executive Committee (NEC) meeting of the former ruling party in Abuja, after a review of the report submitted by the Convention Committee, led by Adamawa State Governor Ahmadu Fintiri,  and the Zoning Panel, headed by Bayelsa State Governor Douye Diri.

     Conversely, the option, due to be ratified at the November convention in Ibadan, will bolster the aspirations of potential contenders from the South.

     Some of those linked with Presidential ambition in the party are Oyo State Governor Seyi Makinde and those being wooed to join the race on the party’s ticket like former President Goodluck Jonathan and former Anambra State Governor Peter Obi.

     Another presidential hopeful, Gbenga Olawepo Hashim, said the zoning to the South was wrongly done, declaring that nevertheless, he will still seek the party’s ticket.

     Jonathan, who was president on the platform of the main opposition party between 2011 and 2015, has been asked to join the race by former Jigawa State Governor Sule Lamido and Diri.

    Party sources said his ambition may be attractive to PDP leaders from the North because of the belief that he can spend only one term, if elected in 2027.

     Although it has been alleged that Makinde was interested in the race, there is neither confirmation nor denial from the governor.

     However, Obi, the 2019 PDP presidential running mate, is also being persuaded to retrace his steps to the party due to the surprise impact he made during the 2023 poll.

     Federal Capital Territory (FCT) Minister Nyesom Wike, who hailed the decision on zoning, said it would foster equity, fairness and justice in the party.

     Members of the PDP NEC were in one accord as they adopted the zoning resolution at the meeting where the Acting National Chairman, Ambassador Umar Damagum, was elevated to substantive national chairman.

    Read Also: JUST IN: PDP zones presidency to south, confirms Damagum as national chairman

     He was sworn in by the party’s National Legal Adviser, Alhaji Kamaldeen Ajibade.

     Other highlights of the meeting were the deliberation on the report of the Convention Committee, led by Adamawa State Governor Ahmadu Fintiri, and the Zoning Committee, headed by Diri.

    Noting the gale of defections that hit the party, Damagum, who said it would not affect PDP, said the defectors are in a ‘one chance vehicle.”

     Hailing the resolution on zoning, the House of Representatives Caucus vowed to ensure the victory of the party in future polls.

     According to the communique read by the National Publicity Secretary, Debo Ologunagba,  all the national positions held by chieftains from the North were retained in the region.

    Also, all the national offices currently held by chieftains from the South were retained in the region.

    NEC also directed that the positions should be micro-zoned within the regions.

     However, Ologunagba said:  “Having retained the position of the national chairman in the North, the presidential candidate of the party for the 2027 election is hereby zoned to the South.”

     He added: “NEC expressed satisfaction on the level of preparedness of the party at its various organs, chapters and structures for the 2025 Elective National Convention scheduled for Ibadan, the Oyo State capital on November 15 and 16.

     “NEC acknowledged with satisfaction the efforts and commitment of PDP Governors’ Forum, Board of Trustees (BoT), National Working Committee (NWC), National Assembly Caucus and other relevant bodies of the party towards success of the forthcoming 2025 National Convention at Ibadan, the Oyo State capital.

     “NEC also received update from the PDP Constitution Amendment Committee and directed the committee to circulate the Draft Constitution Amendment to various organs and chapters of the party for further inputs.”

    Wike: I am vindicated over zoning

    Wike hailed the decision to retain the national chairman in the North and zone the president to the South.

    A statement by his Senior Special Assistant on Public Communications and Social Media, Lere Olayinka, said the decisions would correct past mistakes.

     He said: “Now that the party has realised its mistake of not listening to Wike and the G-5 in 2022, and have chosen to do what they said three years after, have they not been vindicated now?

    “The FCT minister and the G-5 had insisted that the presidential candidate of the PDP and its national chairman must not remain in the same zone, insisting that since Alhaji Atiku Abubakar, from the North had emerged as the presidential candidate, Senator Iyorchia Ayu, also from the North, must resign to pave the way for a national chairman from the South.

    “Ayu, however, insisted on not resigning, with Atiku and his group backing him. Aftermath of this was the electoral misfortune the party suffered in 2023, followed by instability after the elections.

    “But today, the NEC resolved that since the national chairman of the party is zoned to the North, the PDP 2027 presidential ticket be zoned to the South.

     “Has PDP not come back to eat its own vomit?

    “Sadly, they know the truth. Wike simply said, take the chairmanship to the South if you want to gain the presidency, but they said no, they must take the two, and the PDP lost!

     “They have realised the mistake they made in 2022 and are correcting it in 2025. But is it not too late already, bearing in mind that the only way the zoning can be justified is for the South to conclude its eight years, while the presidency returns to the North in 2031.”

    Zoning illegal, says Olawepo-Hashim

     Olawepo-Hashim said zoning cannot stand because it has no basis in the PDP constitution.

     During the NEC meeting, his supporters stormed the party secretariat, urging him to declare his presidential ambition.

     The rally was coordinated by three major support groups: Hashim Unity Group, led by Musa Makanda, former Speaker of Bwari Area Council; The Hashims, led by Mr. Sunday Tsado; and Hashim Advocates, led by Mallam Abba, former PDP youth leader in the FCT in 1999.

     The group leaders said Dr. Hashim embodies the finest qualities of leadership, adding that he has demonstrated vision and integrity in his advocacy for democracy and good governance.

     Olawepo-Hashim, who reacted to the decision on zoning, insisted that it was done in error.

     Damagum, Wabara: Road to 2027 not easy

     The Board of Trustees (BoT) Chairman, Senator Adolphus Wabara, urged the party to embrace reconciliation and confront future electoral challenges in an atmosphere of unity.

     He said: “The road to 2027 will not be easy, but if we unite, if we embrace sacrifice, if we open our doors to reconciliation, there is no doubt in my mind that the PDP will again rise as the hope of Nigerians.

     “We must be honest with ourselves. Reclaiming victory in 2027 will demand more than rhetoric; it will demand sacrifice in exchange for the collective interest of the party and more importantly, the Nigerian people.”

    Damagum called for unity, sacrifice and inclusion ahead of the national convention and 2027 polls.

    He spoke on women’s representation, noting that the PDP, which has already adopted the 35 per cent affirmative action for women in its constitution, should implement it.

    Damagum said zoning would ensure unity, cohesion, fairness and inclusivity in the party.

    Some of those who attended the meeting are: Governors Seyi Makinde (Oyo); Duoye Diri; Bala Mohammed Bauchi; Ademola Adeleke (Osun); Caleb Mutfwang (Plateau); Dauda Lawal (Zamfara), Chief Jim Nwobodo; Prof Jerry Gana; Samuel Anyanwu; Alhaji Adamu Muazu; Chief Olabode George; Senator Babangida Aliyu; Dr. Ibrahim Dankwambo; Chief Mike Ogiadomhe; Philip Salawu; Hajia Zainab Maina, Alhaji Taofeek Arapaja; Samuel Ortom; Hajia Ina Ciroma; Prince Olagunsoye Oyinlola; Mr. Kingsley Chinda and Senator Bello Gwarzo.

  • 260,000 ECOWAS forces to fight terrorism in sub-region

    260,000 ECOWAS forces to fight terrorism in sub-region

    • Defence, finance chiefs to workout plans for $2.5b funding

    A 260,000-strong  special force is soon to be activated by the Economic Community of West African States (ECOWAS) to counter terrorism in the sub-region.

    The squad will complement the efforts of the 5,000-man highly trained brigade under the auspices of the African Peace and Security Architecture and Continental Standby Force.

    A meeting of Finance and Defence ministers of the sub-regional body will be held in Abuja on Friday to work out modalities for raising $2.5 billion annual budget for the activation of the force.

    Besides the counter-terrorism squad,  ECOWAS intends to establish three integrated maritime centres with a coordinating centre in Abuja.

     ECOWAS Commission President  Omar Touray announced this at the maiden African Chief of Defence Staff Summit in Abuja yesterday.

     The summit themed “Combating Contemporary Threats to Regional Peace and Security in Africa: The Role of Strategic Defence Collaboration,” was attended by Vice President Kashim Shettima who represented President Bola Ahmed Tinubu;   Minister of State for Defence, Bello Matawalle and Chiefs of Defence Staff and representatives from 36 out of the 54 African countries, including Nigeria’s Chief of Defence Staff, Gen. Christopher Musa.

     Also in attendance were Nigeria’s  Service Chiefs, officials of    ECOWAS and the African Union (AU), members of the diplomatic corps and academia as well as  Deputy Secretary-General of the United Nations(UN), Amina Mohammed and her predecessor,      Prof. Ibrahim  Gambari.

    At the event where President Tinubu advocated a joint framework by defence institutions to tackle trans-border crimes, Prof Gambari said there are more 1,000 terror groups in Africa.  

    Read Also: ECOWAS Youth Parliament honours Changchangi with global philanthropic award

    The ECOWAS Commission Chairman, who was represented at the event by the Commissioner for Political Affairs, Peace and Security, Abdel-Fattah Musah,  said the  260,000-member counter-terrorism force was needed in view of the asymmetric security dynamics in the region.

    He said:   ECOWAS is acutely aware of the threat of renewed geo-strategic and geopolitical processes unfolding in West Africa and beyond that threaten renewed proxy wars akin to the Cold War era, due in part to the acute insecurity facing the continent, and it is determined to avert this scenario.

    “The first step in this direction is our effort to scale up counter-terrorism efforts. On the directive of the ECOWAS Heads of Government, the organisation is in the process of activating a 260,000 rapid deployment counter-terrorism brigade and providing logistics and financial support to frontline states facing terrorism.

     “We are conscious of the fact that this bold initiative requires the necessary financial resources and capabilities to make it a reality. To this end, ECOWAS will be hosting a meeting of the Ministers of Finance and Defence to agree on the funding modalities to raise an annual budget of $2.5 billion for the activation of the regional counter-terrorism force. The meeting of these ministers will take place on  Friday in Abuja.

    “By this initiative, ECOWAS is also throwing the gauntlet to bilateral and multilateral partners to complement this daring regional initiative.

    ‘’In particular, we hope that this summit will, through the African Union, send a clarion call to the United Nations to redeem the pledge made under United Nations Security Council Resolution 27-19 of December 2023 to fund 75 percent of African-led peace support operations.”

      Touray added that ECOWAS is  pursuing the operationalisation of its integrated maritime security  with the establishment of three integrated maritime centres   and an “international maritime coordinating centre in Abuja, as well as an in-site strategy on countering transnational organised crimes, among others.”

     He praised the Nigeria-led continental initiative, which, according to him, was born out of President   Tinubu’s vision and determination to empower the peace and security intelligence establishments in Nigeria. 

    Tinubu  to Defence chiefs: Africa needs  joint security

    framework

      Tinubu charged the defence chiefs to evolve a framework for African defence institutions to “speak with one voice and act with one purpose.”

    He stated that the scale of threats across the continent has made it a must for nations to pause and reflect.

    The President said: “From the deserts where insurgency festers, to the high seas where piracy prowls, from the silent corridors of cybercrime to the ruthless networks of transnational criminals, none of these tragedies respects borders, and neither should our response.

    “What is true of our challenges must also be true of our resolve: we cannot neutralise these threats in isolation. This is the moment to reassess our military objectives in the collective aspiration to make Africa safe.

    ‘’ It is time to forge a new doctrine of continental defence, one rooted in trust, shared intelligence, and coordinated strategy. ‘’

    Tinubu consequently proposed a permanent African Chiefs of Defence Staff Forum to serve as a platform for military chiefs to dialogue, strategise, and coordinate their operations.

     He  said: ‘’This summit, the first of its kind, could not have come at a better time. I am, therefore, deeply honoured to welcome each of you to Abuja, the heart of Nigeria and the home of Africa’s endless possibilities. 

    “I propose the establishment of a permanent African Chiefs of Defence Staff Forum, a platform for continuous dialogue, strategic foresight, and operational coordination.

    “Let us institutionalise this spirit of unity and make it a cornerstone of Africa’s security architecture,” he stated, urging them to ensure the summit does not end with just a standing ovation and accolade.

    “We hold no illusion: security is the foundation upon which the edifice of progress must stand. That is why we must use this Summit not merely as a meeting but as a covenant to deepen cooperation, through joint training, harmonised doctrines, and interoperable systems. For this to endure, we must build a framework where our defence institutions speak with one voice and act with one purpose.”

    He said that Nigeria, being the most populous in  the continent, had always been straightforward in being  “  a good neighbour and a brother’s keeper in the struggle for peace.’’

    While emphasising that modern-day security threats are asymmetric, digital, and often invisible, Tinubu implored African nations to “invest in cyber defence, artificial intelligence, and indigenous military innovation,” even as he called for collaboration with the private sector to achieve the goal.

     “Africa cannot remain merely a consumer of technology; we must be creators, innovators, and owners of the tools that secure our tomorrow,’’ he said.

    CDS  Musa said that without investments in cyber defence, artificial intelligence, and indigenous military technology it would be difficult to achieve security.

    He added that  Nigeria was  ‘’deeply committed to the ideals of regional stability and continental defence integration.’’

      “We believe that true security is not achieved in isolation. It is built through shared intelligence, joint training, and coordinated action.

    “Nigeria stands ready to work with our brothers and sisters across the continent to develop frameworks that are proactive, resilient, and responsive to the realities of our time,” Gen. Musa said.

  • Nigeria, Brazil air link begins

    Nigeria, Brazil air link begins

    Yesterday’s signing of Bilateral Air Service Agreement (BASA) between Nigeria and Brazil has set the stage for the commencement of direct air link between the two countries.

    Aviation and Aerospace Development Minister Festus Keyamo signed the Memorandum of Understanding (MoU) on behalf of the Federal Government. Brazil’s Minister of Transport Silvio Costa Filho signed for the Southern American country.

    The deal was witnessed by President Bola Ahmed Tinubu and his Brazilian counterpart, President Luiz Inácio Lula da Silva, a statement by Keyamo’s Special Adviser on Media and Communications, Mr. Tunde Moshood, confirmed last night.

    BASA is expected to open fresh avenues for trade, tourism, investment and people-to-people exchanges. It will also enhance stronger economic integration, facilitate cultural ties and improve diplomatic cooperation between both nations.

    “This agreement is a strategic milestone that underscores President Tinubu administration’s commitment to expanding Nigeria’s global partnerships and creating enabling environments for commerce and mobility,” the statement said.

    Brazilian national carrier Varig Air will fly from the Southern American country while Air Peace and Caverton airlines will operate from the Nigeria end.

    The flights will be between Lagos and Rio de Janeiro.

    Read Also: Nigeria’s micronutrient deficiency crisis spurs calls for stronger nutrition strategy

    The statement hinted that Tinubu, who led a powerful delegation was in company of senior cabinet members, including Minister of Finance and Coordinating Minister of the Economy Olawale Edun; Minister State for Foreign Affairs Ambassador Bianca Odimegwu-Ojukwu; Agriculture and Food Security Minister Abubakar Kyari, among others.

    Tinubu was received in Brasília by President Lula da Silva, marking a significant step in strengthening bilateral ties between the two economic leaders of their respective continents.

    The Brazilian President lauded the partnership, emphasising Brazil’s readiness to deepen ties with Nigeria in multiple spheres, including aviation, agriculture, and infrastructure development.

    Today, Tinubu is scheduled to meet the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

    The visit would also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.

  • JUST IN: Tinubu meets Brazil’s Lula in Brasilia as state visit begins

    JUST IN: Tinubu meets Brazil’s Lula in Brasilia as state visit begins

    President Luiz Inácio Lula da Silva of Brazil on Monday received President Bola Ahmed Tinubu at the Planalto Palace, Brasilia, with a full military honours parade to formally welcome him on his first official state visit to the South American country.

    The colourful ceremony, held in front of Brazil’s seat of power, signalled the beginning of high-level engagements between the two leaders aimed at strengthening bilateral ties and opening fresh areas of cooperation.

    President Tinubu, who arrived in Brasilia on Sunday, is on a multi-day state visit at the invitation of President Lula.

    The visit is expected to deepen Nigeria–Brazil relations in trade, investment, agriculture, energy, and technology transfer. It will also explore opportunities in aviation and defence cooperation.

    Diplomatic sources said both leaders would use the meetings to review existing agreements and chart new frameworks to expand economic cooperation between Africa’s largest economy and Latin America’s biggest market.

    Read Also: Tinubu, Shettima, other dignitaries to attend GbaramatuVoice 10th anniversary in Abuja

    Nigeria and Brazil share long-standing historical and cultural ties dating back centuries. In recent years, relations have centred on trade in crude oil and agricultural products, technical cooperation in farming and education, and collaboration within the South-South cooperation framework.

    President Tinubu’s visit is also significant in the context of Nigeria’s renewed push to diversify its foreign partnerships beyond traditional allies in Europe, Asia, and North America. It comes at a time when Brazil is seeking to consolidate its leadership role in Latin America while strengthening its voice in global south platforms such as BRICS and the G20.

    After the ceremonial welcome, the two leaders held a closed-door session expected to be followed by bilateral talks between Nigerian and Brazilian delegations. Several memoranda of understanding are likely to be signed before the conclusion of the visit.

    Officials said President Tinubu will also meet with Nigerian professionals and members of the diaspora community in Brazil before returning to Abuja.

  • JUST IN: Tinubu arrives Brazil for two-day state visit

    JUST IN: Tinubu arrives Brazil for two-day state visit

    President Bola Ahmed Tinubu arrived in Brasília on Monday to begin a state visit aimed at deepening ties between Nigeria and Brazil through high-level meetings and the signing of several bilateral agreements.

    The President, who flew in from Los Angeles, was received at the Brasília Air Base by senior Brazilian officials, including Ambassador Carlos Sérgio Sobral Duarte, Secretary for Africa and the Middle East, and Brazil’s Ambassador to Nigeria, Carlos José Areias Moreno Garcete. 

    According to a statement by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga,  Minister of State for Foreign Affairs, Bianca Ojukwu, was also present at the reception.

    Other Ministers, Heads of key agencies and members of the private sector later joined to welcome the President at his hotel.

    An official welcoming ceremony, complete with military honours, will be held at the Planalto Palace, where President Tinubu will meet President Luiz Inácio Lula da Silva. 

    Both leaders will hold a private discussion followed by expanded bilateral talks between senior officials from the two governments. 

    They are expected to witness the signing of Memoranda of Understanding (MoUs) before addressing a joint press conference.

    During the visit, President Tinubu will also hold meetings with the President of the Brazilian Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court. 

    He will participate in the Nigeria-Brazil Business Forum, which is expected to bring together top business leaders from both countries.

    Nigeria and Brazil share a long history of cordial relations dating back to the early 1960s. 

    Brazil was the only Latin American country that took part in Nigeria’s independence celebrations in 1960 and Nigeria established its embassy in Brazil in 1966.

    Read Also: Nigeria, Japan seal deals to boost mining investment

    In recent years, the relationship has been marked by frequent high-level exchanges. President Tinubu led Nigeria’s delegation to the BRICS Leaders’ Summit in Rio de Janeiro in July 2025 and also attended the G20 Summit in Brazil in November 2024. 

    Earlier this year, Brazil’s Foreign Minister Mauro Vieira visited Abuja, while Brazilian Vice President Geraldo Alckmin and his wife attended the Second Session of the Mechanism for Strategic Dialogue in Abuja in June.

    The Dialogue, established by a 2013 MoU, provides a platform for cooperation in agriculture, trade, defence, energy, and other sectors. 

    Its most recent session in June 2025 produced seven new agreements covering defence, energy, livestock development, tourism, audiovisual production, and counternarcotics.

    Brazil remains a critical partner in Nigeria’s food security programme. A $2.5 billion JBS investment deal signed in 2024 is expected to strengthen supply chains, boost local production, and create jobs. 

    The Green Imperative Programme, a $1.1 billion agricultural mechanisation initiative launched in 2019, also continues, with plans to supply 10,000 tractors and 50,000 farm implements for local assembly in Nigeria.

    Speaking on the expected outcomes from the state visit Special Adviser to the President on Media and Public Communications, Mr. Sunday Dare, had described the trip as a strategic move to deepen ties with Brazil, a key member of the BRICS bloc, and to diversify Nigeria’s partnerships beyond traditional allies.

    Dare who spoke on live interview with TVC on Sunday said “this is the third visit of President Tinubu to Brazil, and it is with justifiable cause. It reflects a renewed and focused effort to build lasting economic integration between our countries — a journey that started 21 years ago under President Obasanjo and has gained fresh momentum under President Tinubu”.

    He pointed to demographic similarities between both nations as a natural basis for closer ties, noting Nigeria’s population of about 238 million projected in 2025, which closely mirrors Brazil’s 213 million. 

    He also highlighted Brazil’s thriving agribusiness sector, which boasts a cattle herd larger than its human population, as a model for Nigeria’s livestock development.

    Tinubu’s current visit is expected to further cement these ties, translating long-standing diplomatic goodwill into concrete economic and development gains for both nations.

  • Nigeria, Brazil to seal deals in  aviation, livestock, other sectors

    Nigeria, Brazil to seal deals in  aviation, livestock, other sectors

    • Tinubu on two-day visit
    • A South-south synergy will generate investments, millions of jobs

    Between today and tomorrow, Nigeria and Brazil will sign crucial business agreements to create direct flights between the two countries and generate massive livestock investment inflow.

    In other areas of agriculture, the Green Imperative Partnership (GIP), which kicks off after the visit, is to generate not less than 100,000 direct jobs and more than five million indirect jobs.

    President Bola Ahmed Tinubu is on a two-day state visit to Brazil on invitation of President Luiz Inácio Lula da Silva to improve on their relationship in trade.

    This is President Tinubu’s third visit, and the most important, to Brazil in the last one year.

    His first visit was to attend the G-20 meeting, on November 18 and 19, 2024.

    The second was as an observer at the BRICS Summit on July 6 and 7.

    Brazil’s Vice President Geraldo Alckmin visited Nigeria in June and signed some agreements with Vice President Kashim Shettima.

    Tinubu flew to Brasilia from Japan where he attended the Tokyo International Conference on African Development (TICAD).

    On aviation, the agreement is expected to restore air flights between Rio de Janeiro and Lagos with Brazil national carrier Varig Air and two Nigerian airlines – Air Peace and Caverton.

    Minister for Aviation and Aerospace Development Festus Keyamo will sign the agreement on behalf of Nigeria during the summit.

    In the agriculture sector, an investment by Brazil in Nigeria’s vast and expansive livestock sub-sector will come on stream.

    Livestock is critical to the agenda of President Tinubu.

    Read Also: Nigeria, Japan seal deals to boost mining investment

    To achieve this, he set up the Ministry of Livestock Development so the potential in the area will benefit Nigeria investors and the economy.

    Also in agriculture, Brazil, which is a powerhouse, will make tractors available for farmers to boost food production in Nigeria.

    Brazil, being the biggest economy in South America with cultural affiliation to Nigeria, is bidding for investment in Nigeria, with the biggest population, vast arable land and one of the biggest economies in Africa.

    Special Adviser to the President on Media and Public Affairs Sunday Dare, reflecting on the President’s visit in an article, wrote: “Nigeria and Brazil have signed an economic cooperation with the launch of the Green Imperative Partnership (GIP), a US$1.1 billion initiative aimed at supplying 10,000 tractors and 50,000 pieces of equipment, to be assembled in Nigeria.

    “This project is estimated to provide about 100,000 direct jobs and over five million indirect jobs. The programme is anticipated to advance agricultural mechanisation and food security in Nigeria. It is imperative to note that the Green Imperative Agreement was signed during the visit of the Brazilian Foreign Minister, Mauro Viera, in Abuja this year.

    “Both (Brazil and Nigeria) are leaders of the Global South with converging aspirations in South–South cooperation.

    Together, we face common challenges — and opportunities:

    • Food Security: Brazil’s advanced mechanisation and Nigeria’s fertile land create a powerful synergy.

    • Climate Change and Energy Transition: Both countries share vulnerabilities, requiring joint innovation in renewables and green finance.

    • Global Trade Realignment:  With uncertainties around U.S. AGOA renewal, BRICS-linked trade and currency channels are becoming vital.

    • Technology and Youth Employment:  Harnessing the digital economy is central to empowering their youthful populations.

    “Trade between Nigeria and Brazil has experienced sharp swings in recent years. From a high of about US $9 billion a decade ago, bilateral trade fell to just US $1.6 billion in 2023, reflecting underutilised opportunities and shifting global dynamics.

    “In 2024, the figure remained under US $2 billion, with Brazil exporting roughly US $970 million worth of goods such as machinery and poultry to Nigeria, while Nigeria’s exports to Brazil stood at about US $920 million, driven by oil, cocoa, urea, and sesame. Brazil’s total imports from Nigeria in 2024 were valued at US $1.17 billion, largely mineral fuels and fertilizers.

    “Despite this contraction, the trade balance between the two economies remains relatively even, a sign of mutual complementarity rather than one-sided dependence. Nigeria’s non-oil exports are increasingly finding space in the Brazilian market — in October 2024 alone, Nigeria’s non-oil exports reached US $0.62 billion, with Brazil as the single largest destination, accounting for over 20 per cent of the total.

    “This demonstrates that beyond hydrocarbons, sectors like agriculture and agro-processing are already serving as bridges between the two economies, with clear potential for scaling up.

    “Looking ahead, both countries have set ambitious targets to revive and expand their trade partnership. At several fora, leaders pledged to push trade back above US $2 billion, with a longer-term goal of reaching US $3.5 billion by 2030.

    In Oil and Gas, Brazilian giants, such as Petrobras and Embraer, are exploring investments in energy and aviation. The BASA Agreement for a direct flight route between our two countries is already on the table to be consummated , a move that would  dramatically improve connectivity, lower costs, and unlock new flows of trade, tourism, and investment.

  • New debt  financing strategy reduces  foreign exposures

    New debt  financing strategy reduces  foreign exposures

    Plans are underway by the Federal Government to reduce the foreign debt exposures by about seven basis points as part of a new debt financing strategy.

    The new Medium-Term Debt Management Strategy (MTDS) for 2024–2027 is expected to reduce foreign exchange (forex) debt exposure from the current 51.75 per cent to 45 per cent of the total debt portfolio.

    The policy framework, which is being coordinated by the Debt Management Office (DMO), has been approved by the Federal Executive Council (FEC).

    The strategy was developed with technical support from the World Bank and the International Monetary Fund (IMF). It also has the inputs of key stakeholders, including the Ministry of Finance and the Central Bank of Nigeria (CBN).      

    Read Also: Nigeria to channel World Bank funds into infrastructure, jobs, investment

    The MTDS, which is widely recognised as a global best practice for managing public debt, aims at ensuring debt sustainability, improving fiscal stability, and deepening the domestic securities market.

    The DMO explained in a statement at the weekend that the policy framework would balance the government’s financing needs with debt sustainability considerations, while minimising costs and risks associated with borrowing.

    DMO stated: “The key objectives of the MTDS are to meet the government’s financing needs and payment obligations in the short to medium term, taking into consideration the costs and risks trade-offs in the debt portfolio; to achieve optimum composition of the public debt portfolio that ensures debt sustainability; and to further deepen the domestic securities market through the introduction of new products.”

    Many debt sustainability benchmarks across key fiscal and risk indicators were set.

    Debt-to-GDP was projected to rise from 52.25 per cent at the end of 2024 to 60 per cent by 2027, while interest payments-to-GDP were capped at a maximum of 4.5 per cent as against   3.75 per cent in 2024.

    Sovereign guarantees-to-GDP is not expected to exceed five per cent from the current 2.09 per cent

    Also, the domestic-to-external debt mix was adjusted from the current 48:52 ratio to 55:45 to reduce foreign exchange risk exposure.

    Refinancing risk would be contained with a maximum of 15 per cent of debt maturing within a year, with debt maturing as a share of GDP pegged at five per cent.

    Average maturity time for debt portfolio was set at a minimum of 10 years to ensure longer repayment cycles.

  • ‘Africans will be better off with single economy’ 

    ‘Africans will be better off with single economy’ 

    • Malema chides xenophobia
    • Sultan seeks justice access for the poor

    Africa needs a single economy with one currency and military command to be stronger, South African opposition leader and President of the Economic Freedom Fighters (EFF), Julius Malema, recommended yesterday.

    He issued a rallying call for the continent to stand together and resist what he called the continued subjugation by developed economies.

    In a keynote speech that drew a standing ovation from thousands of lawyers attending the Annual General Conference of the Nigerian Bar Association (NBA) in Enugu, with the theme: “Stand out, stand tall,” Malema said Africa must also break the cycle of dependency.

    He deplored the situation where Africa’s minerals are processed overseas and resold to the continent at exorbitant cost as finished goods.

    He believes African countries can harness their areas of strength and forge a formidable united entity.

    Malema, who lauded Nigeria’s role in the anti-Apartheid battle, described xenophobia – the dislike of people from other countries – as a “betrayal” of African unity.

    “Nigerians are not the cause of South Africa’s unemployment crisis,” he said in reference to the attacks that led to the evacuation of Nigerians from the country in 2019.

    Malema said: “We demand one Africa, we demand a borderless Africa, we demand an Africa with one president, one currency, one military command, with one parliament.

    Read Also: Nigeria, Japan seal deals to boost mining investment

    ”We know the currency of Africa will be much stronger against the American currency. We don’t care what Donald Trump or any other leader thinks of us.

    “Africans must refuse to be subjects of others. We must stand together as the world changes and show the world that Africa is one and equal to all nations.”

    Malema said Africa cannot be described as a “dark continent” when it is endowed with diamonds.

    “How can we be a dark continent when we have diamonds shining among us?

    “We must make sure that no single corner of Africa witnesses Africans killing each other.

    “We must unite against the forces that seek to exploit us.

    ”The land belongs to Africans, and the minerals of Africa must be returned to Africans.

    “We have the capacity to create industries and process our minerals here.

    “We must never allow imperialist forces to divide us in order to take our wealth,” he said.

    He advocated visa-free movement across the continent, adding that its salvation lies “in Lagos and Johannesburg, in Abuja and Pretoria, in the hands of Africans who refuse to be divided”.

    Malema hailed Nigeria for standing firmly with South Africa, describing the West African country as “a comrade nation.”

    “Xenophobia is a sickness borne of poverty, inequality, and government failure.

    “Africans must love themselves, not kill one another. Black people are not loved in Africa, and not loved abroad either, but we must learn to treat ourselves better,” he said.

    The opposition leader urged Africa to end the “debt trap to our foreign colonisers”.

    Getting out of the debt burden, he said, “begins by regulating these loans that our leaders commit future generations to, because they will not be there when the colonisers come to collect them.”

    Sultan seeks rule of law observance

    Sultan of Sokoto, Muhammadu Sa’ad Abubakar, who chaired the opening, said law must target justice as the ultimate objective.

    He called for reforms that will bring laws closer to “our values” and address exclusion from access to justice that can result in uprising.

    “Today, justice is increasingly becoming a purchasable commodity and the poor are becoming victims of miscarriage of justice while the rich commit all manner of crime and walk the streets scot-free,” he said.

    Setting agenda for lawyers, he added: ““By the theme of the conference, you’re resolving to uphold the principles of the rule of law, to ensure that everyone, including those in power, are subject to and accountable under the law and that the law is applied fairly and equally, so that no one operates above the law.”

    Osigwe preaches sacrifice

    NBA President Mazi Afam Osigwe (SAN) urged Nigerians to embrace courage, sacrifice and commitment to justice and equity.

    He said: “Standing tall means being unbending in our defence of the rule of law, equity and justice and being principled in the face of power and unwavering in our pursuit of national progress.

    “We must have the courage of conviction in moments where silence will otherwise be more comfortable.

    “To build a strong and economically viable nation, sacrifice will routinely be required of individual citizens,” he said.

    Mbah: no devt without trusted justice system

    Enugu State Governor Peter Mbah, who declared the conference open, stressed that no one should be too poor to afford justice in Nigeria.

    He said development cannot be achieved without “a justice system that is fair, functional and trusted.”

    According to him, the theme of the conference is a timely reminder of the responsibility lawyers have.

    The governor, also a lawyer, said Enugu was among the first states to implement financial autonomy for the judiciary.

    He said his administration is digitalising the courtrooms and introducing verbatim recording systems.

    The governor welcomed lawyers to Enugu and urged them to enjoy the state’s hospitality.

  • Foreign portfolios rose to N1.3tr in seven months

    Foreign portfolios rose to N1.3tr in seven months

    Foreign investors’ transactions at the Nigerian stock market have risen to a new record high of about N1.3 trillion, underlining improving global investors’ confidence in Nigeria’s macroeconomic outlook.

    The latest report on foreign portfolio participation in Nigeria obtained at the weekend indicated that foreign portfolios had more than doubled this year, outpacing the previous year’s portfolios by 114.2 per cent.

    The report for the seven months ended July 31, 2025, showed total foreign portfolios of N1.28 trillion compared with N598 billion recorded in the comparable period of 2024. Within the same period in 2023, foreign portfolios had stood at N185.62 billion.

    The N1.3 trillion foreign turnover also significantly surpassed N301.37 billion and N262.85 billion recorded within the first eight months of 2022 and 2021, respectively.

    Read Also: Nigeria to channel World Bank funds into infrastructure, jobs, investment

    The report on foreign portfolio investments (FPIs) by the Nigerian Exchange (NGX) showed substantial increases in two-way transactions by foreign investors, a measure of active participation and tracking of the Nigerian market by global investment fund managers.

    The FPI report included transactions from nearly all custodians and capital market operators, and it is widely regarded as a credible measure of the FPI trend.

    The report uses two key indicators-inflow and outflow- to gauge foreign investors’ mood and participation in the equities market and the economy. While inflows and outflows indicate the direction of portfolio transactions, total FPI measures the momentum and level of participation.

    Foreign inflows tripled to N609.73 billion in the first seven months of this year compared with N266.64 billion recorded in the corresponding period of 2024. Foreign outflows also increased from N331.36 billion by July 2024 to N671.56 billion by July 2025. 

    The surge in foreign portfolios supported total transactions at the NGX to a seven-month record of N6.01 trillion, nearly double of N3.1 trillion recorded in the comparable period of 2024.

    Experts have credited rising foreign inflows with the stability in the Nigerian foreign exchange (forex) market, which has supported the domestic currency.

    Experts said investors were reacting positively to stability in the overall macroeconomic environment.

    “Specifically, we expect sustained inflows from foreign portfolio investors (FPIs) due to existing carry trade opportunities and stronger market confidence,” Cordros Capital stated at the weekend.

    Analysts said rising FPIs and growing oil and non-oil exports would continue to support a stable naira.

    The naira had appreciated by 1.1 per cent to close the weekend at N1,520.00 per dollar. Cordros Capital cited Central Bank of Nigeria (CBN)’s intervention and increased inflows from FPIs as the two factors behind the naira appreciation.

    Nigeria’s gross forex reserves increased to their highest level since December 2021 at the weekend, rising by $353.47 million to $41.08 billion.

    OPEC’s August Monthly Oil Market Report (MOMR) showed that for the second consecutive month, Nigeria’s crude oil output remained above its OPEC+ quota of 1.50 mb/d, averaging 1.50 mb/d in July 2025.

    Analysts said the outperformance reflected the combined impact of improved security conditions in the Niger Delta and a gradual rebound in upstream investment, supported by the transfer of divested assets from international oil companies to indigenous operators.

    “Indigenous players have increasingly taken the lead in deploying capital and accelerating field development, which has helped sustain production levels despite lingering operational and infrastructural challenges. Notably, average crude production in H1-25 stood at 1.47 mb/d, underscoring the sector’s gradual but fragile recovery momentum. Overall, we expect Nigeria’s crude oil production to remain marginally above the OPEC+ quota through year-end, underpinned by improved security measures and a gradual recovery in sector investments,” Cordros Capital stated at the weekend.

    Minister of Finance and Coordinating Minister of the Economy, Wale Edun, attributed increasing inflows of foreign direct and portfolio investments to the gains of President Bola Tinubu’s macroeconomic reforms.

    According to him, continuing expansions by multinationals operating in Nigeria, as further illustrated by the inauguration of PepsiCo’s $20 million expanded snacks manufacturing facility last week in Lagos, were votes of confidence in the future outlook of the Nigerian economy.

    He noted that measures such as the removal of fuel subsidies and the unification of the foreign exchange market, and market-based pricing, though difficult, had restored transparency, improved liquidity, and stabilized Nigeria’s macroeconomic environment.

  • BREAKING: Gigi Jasmine evicted from BBNaija season 10

    BREAKING: Gigi Jasmine evicted from BBNaija season 10

    Big Brother Naija housemate Gigi Jasmine has been evicted from the “10/10” season.

    After a dramatic search for an envelope containing an immunity card, 20 housemates were put up for possible eviction, and Gigi Jasmine ultimately became the seventh to bid farewell to the show.

    This unexpected turn of events has left the remaining 22 housemates on high alert, as they scramble to regroup and reassess their strategies in the battle for the coveted grand prize.

    Read Also: Traxport partners Vecturis to revolutionise freight rail in Nigeria

    Recall that the Head of House Zita is immune from this week’s eviction and also saved Mensan and Faith with his veto power while Jason Jae was automatically saved due to being voted the ‘Most Influential’ housemate in Week three.

    As the competition intensifies, alliances will be tested, and new ones will be formed.

    The housemates will need to navigate the challenges and twists that come their way, all while trying to stay in the game and claim the top prize.