The Nation Newspaper

Category: Saturday Magazine

  • NAPTIP nabs Dubai-based human trafficker at Abuja airport

    NAPTIP nabs Dubai-based human trafficker at Abuja airport

    The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has arrested a convicted human trafficker at the Nnamdi Azikiwe International Airport, Abuja.

    According to NAPTIP, the trafficker is the arrowhead of an international human trafficking network operating across the Middle Eastern countries with an operational base in the United Arab Emirates (UAE) Dubai.

    The agency also said the trafficker, Uadiale Christiana Jacob a.k.a. Christy Evan Osagie or Christy Gold had been on its wanted list in the last five years.

    She is said to be a senior member of an organised human trafficking syndicate notorious for the recruiting, trafficking and sexually exploiting underage Nigerian girls in Dubai, United Arab Emirates.

    She was said to have been arrested by officials of the Nigeria Immigration Service (NIS) on duty at the Nnamdi Azikwe International Airport, Abuja on December 31, 2024 on arrival from Dubai for the new year celebration and handed over to NAPTIP.

    A statement issued by NAPTIP’s Press Officer in Abuja, Vincent Adekoye, yesterday said her suspected accomplices, Michael Nduka, Osas Wiseman, Vivian and a certain Prophet John in Lagos, along with others, are field officers who assist in the recruitment and subsequent transfer of victims to Christy Gold, and were still on the run.

    Revealing how Christiana was arrested, the agency said: “It would be recalled that on the 18th March, 2020, the Nigeria Immigration Service (NIS), Ikeja Airport Command shared intelligence with NAPTIP Joint Border Task Force/Benin Satellite Office (JBTF/BSO) in respect of one Uadiale Christiana Jacob a.k.a. Christy Evan Osagie a.k.a. Christy Gold of No 15 Osagie Street, Off 2nd Power Line, Egbon Estate, Benin City, Edo State. 

    “Uadiale Christiana Jacob, popularly known as Christy Gold, is a senior member of an organised human trafficking syndicate notorious for the recruitment, trafficking and sexually exploiting of underage Nigerian girls in Dubai, United Arab Emirates.

    “Following the agency’s investigation into the alleged offence to establish culpability, Christiana Uadiale Jacob was arrested by NAPTIP in Ikpoba Hill area, Benin City on the 13th of October, 2020 for her involvement in the trafficking of underage Nigerian girls to Dubai, United Arab Emirates for forced prostitution.

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    “She was charged to the Federal High Court, Asaba, Delta State on the 25th of November 2020, where she was granted bail.

    “While on court bail, Christiana Uadiale Jacob violated the terms of the bail and absconded to Dubai.

    “After failing several times to appear before the court, a Bench Warrant was therefore issued by the sitting Judge on the 3rd of November, 2021 for her arrest.”

    The statement continues: “To get Christiana Uadiale Jacob to face justice for her crimes, NAPTIP sought the assistance and collaboration of the Honourable Minister of Justice and Attorney General of the Federation, National Central Bureau (NCB), INTERPOL Nigeria, National Intelligence Agency (NIA), Nigeria Immigration Service (NIS) and the United Arab Emirates Police for her arrest and extraction to Nigeria.

    “Even while she tried to evade justice, NAPTIP did not relent, and as a result of our diligent prosecution of the case, Christiana Uadiale Jacob was convicted for human trafficking in absentia by Honourable Justice F. A. Olubanjo of the Federal High Court, Asaba, Delta State on the 21st of March, 2024 with sentencing being awaited whenever she is rearrested and brought before the Honourable Court.

    “Luck, however, ran out on her on the 31st of December 2024, as Officers Nigeria Immigration Service acting in respect of NAPTIP’s request for watchlisting dated 22nd February 2023, nabbed her on arrival in Nigeria.”

    The Director General of NAPTIP, Binta Adamu Bello, lauded the efforts of the Nigerian Immigration Service for apprehending the fleeing human trafficking convict, saying that it was a commendable demonstration of inter-agency collaboration. She said the convict would be taken to the court for sentencing.

    She also promised to make 2025 hell for all human traffickers.

    She said: “I want to specially thank our sister law enforcement agency, the NIS, for the arrest of the convict.

    “I recall that a few weeks ago, I visited the Comptroller General of NIS and the outcome of that advocacy visit is this improved synergy and very efficient collaboration.

    “NAPTIP also appreciates the efforts of other members of the intelligence community who are working behind the scenes to apprehend these fellows.

    “The convict that has been arrested and convicted will surely be taken to the court to face the sentence by the law.

    “This is a clear message to other members of this international criminal gang who are still on the run: they can only hide for a while; they can never hide forever.

    “We have already activated all necessary security and intelligence apparatus, and our partners around the world are on the lookout for these elements.

    “Very soon, the net will catch them.

    “I am happy it was a sad end for human traffickers in the country in 2024, and we promise them hell in 2025.

    “We are more determined and will be more decisive this year to fish them out and ensure the protection of Nigerians from trafficking, exploitation and violence against persons.”

  • Husband stabs Osun Bishop to death over suspicion of sleeping with estranged wife

    Husband stabs Osun Bishop to death over suspicion of sleeping with estranged wife

    The presiding Bishop of Rapture Empowerment International, Dr Sina Olaribigbe, has been stabbed to death over suspicion of sleeping with a married woman.

    The Nation gathered that the incident occurred yesterday at BCGA area behind Olorunda Local Government Secretariat, Osogbo, Osun State.

    A source said the couple had been having misunderstanding in their marriage, which led them to be living separately.

    However, Bishop Olaribigbe had been involved in ensuring that peace reigned in the union before they started living separately.

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    It was gathered that the Bishop was on the bed of the wife of an aggrieved husband and the compromising position led to stabbing of the cleric to death.

    Public Relations Officer, Osun State Police Command, Yemisi Opalola confirmed the incident.

    She said: “Olaribigbe used to settle fights between the couple. We were told the pastor was at the wife’s place when the estranged husband got there. He stabbed the pastor, he was on the wife’s bed when the incident happened. The husband stabbed him several times and he died. It was learnt the husband acted on the suspicion that the past or was sleeping with the woman.“

  • ‘Why jealous ex-husband attempted to burn former wife in razed building on New Year’s Day’

    ‘Why jealous ex-husband attempted to burn former wife in razed building on New Year’s Day’

    A jealous ex-husband, Osaro Ahuwan, 54, a transporter, who hails from Benin Kingdom, around 1 a.m. on New Year’s Day, attempted to burn her former wife, Tina Uyi, 54, an Italy-based businesswoman, in her razed twin-flat, over his declaration that without marrying him, her death would be the only option.

    Uyi, also an indigene of Benin Kingdom, who returned to Nigeria last December 31, was in the razed three-bedroom flat, when the arsonist forced open her bedroom’s sliding window, poured petrol into the building, and lit a lighter, which was thrown near her documents’ bag, thereby burning her valuables and huge cash (local and foreign currencies).

    The incident happened at No. 7, Henry Asemota Avenue, Iduowina Quarters, near Oluku in Ovia Northeast Local Government Area of Edo State.

    Ahuwan, yesterday according to a brother-in-law to the victim, Osazee Osaretin, blocked the flat’s main entrance to prevent the escape of the victim and members of her family, despite returning the bride price to his family on April 14, last year.

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    Osaretin also said the Italy-based woman escaped through the back door of the fenced compound with gate, and ran out of her apartment naked, but a neighbour gave her a wrapper, while somebody came from the neighbouring compound, and pulled her through the fence, with her legs burnt, because of the splashed petrol.

    The brother-in-law said: “Uyi had issues of maltreatment and battery from Ahuwan, in the marriage of less than three years. They got married on January 12, 2022, but the bride price was returned to Ahuwan’s family on April 14, 2024.

    “The ex-husband stormed the house with a gallon of four litres of petrol, which he used in a bottled-water container to sprinkle in Uyi’s room, after breaking the sliding window, where he used to gain access. She was shouting and managed to escape with her children through the back door.

    “Neighbours were able to rescue Uyi’s nonagenarian parents from the inferno. Men of Edo State Fire Service eventually put out the fire, while preventing it from spreading to the second flat.

    “Uyi was taken to an undisclosed hospital in Benin City by her neighbours, who later arrested Ahuwan. He is at Ekiadolor Police Station, in the custody of the Divisional Police Officer (DPO), CSP Isah Nasiru, who is helping with the investigation, as her travel documents, life savings in Euros, packages from her friends and neighbours in Italy to their loved ones in Nigeria, and other valuables got burnt. Ahuwan confessed that Uyi’s older brother, Odaro Oviarobo, provided him with detailed information about his sister’s return.”

    Ahuwan, according to police sources, set his ex wife’s apartment ablaze for refusing him access into her apartment, despite hearing the bang on the building’s window.

    Uyi’s older brother (Odaro Oviarobo), in the second flat, was also arrested for the arson, conspiring with Ahuwan, and informing the arsonist of the movements of the victim, especially her presence at home.

     Edo Police Public Relations Officer (PPRO), Moses Yamu, a Chief Superintendent of Police (CSP), confirmed the incident, and declared that the culprits would not be spared.

  • BOI’s capital raising ignites hope for industrial financing

    BOI’s capital raising ignites hope for industrial financing

    The €2 billion fundraise at BOI will enhance its interventions, deepen developmental impact, bridge Nigeria’s $35 billion annual funding gap, and support critical infrastructure financing, reports Assistant Business Editor, COLLINS NWEZE

    The international financial markets continue to play a crucial role in mobilising funds for private institutions to achieve their operational objectives. For the Bank of Industry (BOI), a significant milestone was reached in 2024 when it successfully raised €1.879 billion to support critical infrastructure projects. This fundraising is one of the largest amounts ever secured by a Nigerian or African development finance institution (DFI). This funding is not only set to bridge Nigeria’s $35 billion annual development financing gap but also plays a pivotal role in advancing the BOI’s Strategic Plan for 2025-2027.

    A key focus of this plan is to significantly expand BOI’s financing across various sectors to address Nigeria’s pressing developmental needs. The funds raised will strengthen the bank’s capacity to fulfil its mandate effectively. Through this fundraising, BOI aims to tackle the infrastructure challenges that elevate the cost of doing business for manufacturers in Nigeria. Given that infrastructure finance requires long-term, high-value funding, this new capital will be instrumental in supporting sustainable development and improving the business environment across key industries.

    The historic success of this transaction has bolstered confidence in BOI, enhancing its capacity to access additional sector-specific funds. This includes financing targeted at vulnerable sectors such as gender, youth, MSMEs, agriculture, and ESG (Environmental, Social, and Governance) initiatives, among others. With this newfound financial flexibility, the bank is better positioned to programme and fund impactful projects that will drive Nigeria’s long-term industrial development. The breadth and scope of funding now available to BOI provide the bank with the opportunity to pursue transformational projects more effectively.

    From a risk management standpoint, these funds will aid in mitigating credit risk, facilitating longer payback periods, and leveraging strategic partnerships to de-risk lending to sectors like MSMEs and gender-focused initiatives. This will expand access to finance for underserved segments of the economy. Moreover, this funding will strengthen BOI’s liquidity by establishing a robust funding base to support its financing operations. It will also contribute to stabilising inflation, foreign exchange, and overall economic conditions. The capital raised will support the implementation of internal strategies, including digital transformation, and further solidify BOI’s reputation as a trusted partner with a proven track record as an impact investor.

    Additionally, Green, Climate, and Environmental Financing have become central to BOI’s new strategic focus. The €1.879 billion raised will enable the bank to deepen its engagement in these vital areas. Experts argue that leveraging private capital for public infrastructure needs reduces the financial burden on governments while promoting greater efficiency and fostering innovation within the economy.

    Performance indicators

    The year 2024 will be remembered as the most successful in the Bank of Industry’s (BOI) 65-year history, marked by several unprecedented milestones. The newly raised funding will significantly bolster the bank’s balance sheet, increasing it by an impressive N3.3 trillion, bringing the total to a projected N7.1 trillion, up from N3.9 trillion in 2023. These remarkable achievements highlight BOI’s ability to play a crucial role in addressing Nigeria’s industrial financing challenges.

    Boasting a track record of sound management, BOI has consistently earned investment-grade ratings from Fitch and Moody’s since 2015. This ongoing recognition underscores its reputation as one of Nigeria’s best-managed government institutions, reflecting the strength of its governance, financial management, and the global confidence in its development mandate. The €1.879 billion syndication not only attracted exceptional interest from a diverse range of international institutions across various countries but also saw the participation of over 10 new international investors, particularly from the Middle East and Asia. This overwhelming demand underscores BOI’s growing reputation as a trusted partner in driving Nigeria’s industrialisation and economic transformation, while also highlighting its increasing appeal to investors from emerging markets.

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    According to analysts, BOI’s successful raise of €1.879 billion in 2024 is a clear reflection of the strength of its financial standing. The 187.9% oversubscription of the syndication underscores the effectiveness of the innovative financing structure, which featured a dual-layer guarantee model, leveraging support from the Africa Finance Corporation (AFC) and the Central Bank of Nigeria (CBN) to optimize risk-sharing. This strategic structure enabled BOI to secure interest rates significantly lower than those typically applied to Nigerian debt instruments, resulting in an estimated savings of 3.6% annually (or approximately N295.7 billion over the three-year tenor). These favourable terms will reduce borrowing costs for the real sector, making Nigerian businesses more competitive.

    Key milestones achieved through BOI’s landmark fundraise include it being the largest single transaction in the bank’s 65-year history, the largest deal ever completed by a Nigerian development finance institution, the largest deal by any Nigerian financial institution, and the largest transaction by any African development finance institution, thus setting a new benchmark. Olasupo Olusi, the Managing Director/Chief Executive Officer of BOI, highlighted that the favourable pricing and terms of the raise will ensure the availability of much-needed low-interest, long-tenure funds for Nigeria’s expanding private sector, in alignment with the vision of President Bola Ahmed Tinubu.

    Olusi further emphasised that the bank’s expanded balance sheet will strengthen its ability to intervene and operate more effectively, enhancing its developmental impact. It will contribute significantly to addressing Nigeria’s annual development financing gap of over $35 billion, support the implementation of BOI’s Strategy for 2025-2027, and bolster the bank’s capacity to fulfil its mandate.

    What the funding means for MSMEs

    This significant influx of capital is earmarked for lending to Micro, Small, and Medium Enterprises (MSMEs), a sector that plays a critical role in Nigeria’s economic development. In a statement, BOI announced that the new funds have substantially strengthened the bank’s balance sheet, boosting it from N3.9 trillion in 2023 to a projected N7.1 trillion by the end of December 2024. The syndication attracted considerable interest from a broad range of international investors, with over 10 new participants, particularly from the Middle East and Asia. This strong engagement underscores BOI’s reputation as a trusted partner in Nigeria’s industrialisation journey and highlights its growing appeal to investors from emerging markets.

    The syndication was oversubscribed by an impressive 187.9%, showcasing the innovative financing structure achieved through a dual-layer guarantee mechanism. Supported by the Africa Finance Corporation (AFC) and the Central Bank of Nigeria (CBN), this mechanism enabled BOI to secure interest rates significantly lower than those typically associated with Nigerian debt instruments. This translates to savings of approximately 3.6% per annum, or an estimated N295.7 billion over the three-year tenor.

    The bank emphasised that these favourable terms will reduce borrowing costs for the real sector, enhancing its competitiveness. Financial analysts regard this achievement as a testament to BOI’s sound management and its consistent investment-grade ratings from Fitch and Moody’s since 2015. These accolades reinforce BOI’s reputation as one of Nigeria’s best-managed government institutions, reflecting its high standards of governance and financial stewardship. Additionally, President Tinubu’s inclusion of BOI in his New Year message as a key promoter of the National Credit Guarantee Company (NCGC) will allow the bank to more securely deploy the substantial resources it continues to mobilise from international financial markets. By sharing risks with the NCGC, BOI will be able to guarantee loans, particularly to MSMEs, under the new scheme, facilitating greater disbursement of loans to Nigeria’s private sector.

    According to President Tinubu, the National Credit Guarantee Company (NCGC)—which is expected to begin operations before the end of the second quarter—is a partnership involving various government institutions, private sector entities, and multilateral organisations. The President emphasised that this collaboration will strengthen confidence in Nigeria’s financial system, expand access to credit, and support underserved demographics such as women and youth. Ultimately, it will drive economic growth and improve living standards across the nation.

    As one of the major promoters of the NCGC, BOI will be able to deploy the substantial resources it continues to mobilise from international financial markets with greater security by sharing risks with the NCGC. The guarantee of BOI loans, particularly to MSMEs, under the new scheme will allow the bank to safely disburse more loans to Nigeria’s private sector.  “In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output. To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.”

    The National Credit Guarantee Company (NCGC)—which is expected to begin operations before the end of the second quarter—is a partnership involving government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Authority, and Ministry of Finance Incorporated, along with private sector entities and multilateral organisations. This initiative will bolster confidence in Nigeria’s financial system, expand access to credit, and support underserved groups such as women and youth. It will drive economic growth, re-industrialisation, and enhance living standards for the Nigerian people.

    Commitment to gender equality

    The National Credit Guarantee Company (NCGC)—which is expected to begin operations before the end of the second quarter—is a partnership involving government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Authority, and Ministry of Finance Incorporated, along with private sector entities and multilateral organisations. This initiative will bolster confidence in Nigeria’s financial system, expand access to credit, and support underserved groups such as women and youth. It will drive economic growth, re-industrialisation, and enhance living standards for the Nigerian people.

    Olusi believes that the formal adoption of the WeFi Code in Nigeria marks a significant step in BOI’s shared commitment to advancing gender equality, economic empowerment, and financial inclusion for women-led enterprises. As a key champion of this initiative, BOI remains unwavering in its dedication to empowering women-owned Micro, Small, and Medium Enterprises (WMSMEs). The bank is focused on providing the resources, access, and opportunities necessary for these businesses to succeed. Women are the backbone of many industries across Nigeria, driving innovation and economic growth.

    However, the barriers they face in accessing finance have often hindered their full potential. Through its dedicated Gender Desk, BOI offers tailored support to address these challenges. As of December 2023, the bank has financed 833 women-owned or women-led businesses, disbursing N99 billion to help them thrive. Looking forward, BOI recognizes the critical need to prioritize gender development and has made gender one of its six key thematic areas of focus.  “To this end BOI has developed a comprehensive gender strategy that will shape our efforts over the next few years. As part of this bold vision, we are committed to allocating at least 15 per cent of our risk assets to WMSMEs, a clear demonstration of our resolve to expand financial access and foster the growth of women entrepreneurs nationwide in line with President Tinubu’s Renewed Hope Agenda,” he said.

    Olusi explained that through the We-Fi Code, BOI is taking decisive steps to dismantle the barriers women face. By leveraging data and bringing together key stakeholders, the bank aims to ensure a more equitable distribution of financial resources. “This initiative aligns with Nigeria’s National Financial Inclusion Strategy and reinforces our goal of closing the gender gap in access to finance. We are proud to be part of this transformative movement, and I thank our collaborators—the CBN, the Development Bank of Nigeria, and all stakeholders—for their dedication to this cause. Together, we are creating lasting change for the prosperity of our nation,” he said.

  • Wife kills husband with pestle in Niger

    Wife kills husband with pestle in Niger

    A 27-year-old woman, Fatima Dzuma, has been arrested by the police for killing her 25-year-old husband, Baba Aliyu, in Lafiyagi Dzwafu village in Katcha Local Government Area of Niger State.

    Dzuma was said to have married Baba three years ago as his second wife after she had divorced her first husband but had not given birth to Baba, while Baba’s first wife had just given birth and preparations were underway for the naming ceremony.

    Sources told The Nation that the deceased and the suspect usually have misunderstandings, and even the night before Dzuma killed Baba, they had a fight where Baba beat up Dzuma.

    Confessing to the crime, Dzuma narrated that there was an altercation between them that night, and she was beaten by her husband, who left the house after beating her.

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    “When he came back, he went to bed. I used a rope to tie his neck, and he could not struggle. I hit him with a pestle three times, twice on his head and once on his hand. I took advantage of his sleeping because his sleep is always deep.

    “After I killed him, I put him inside a mat, threw him over the fence and dragged him to the bush in the backyard before coming back to wash the blood and excreta that came out of his body when I killed him,” she said.

    When asked why she killed him, she said they had a misunderstanding where she told him that she did not love him anymore, and he beat her up.

    When the family of Baba was looking for him, she claimed she had not seen him but confessed to the crime three days after she killed him.

    According to her, only she carried out the act without the help of anybody.

    The Niger State Police Public Relations Officer, DSP Abiodun Wasiu, said the body of Aliyu was found in a bush close to the house, adding that the suspect is in police custody.

    “She confessed that she used a pestle to hit her husband when he was asleep and she later tied the deceased with clothes and rope and rolled the corpse to a nearby bush with a mat.

    “The body was taken to the General Hospital, Bida for post-mortem while the suspect was taken to custody. She will soon be transferred to SCID Minna for further investigation and prosecution,” Abiodun said.

  • Husband slams N100m suit on wife, police over unlawful arrest of father

    Husband slams N100m suit on wife, police over unlawful arrest of father

    A Lagos-based contractor, Mr. Yusuf Tasleem, has filed a suit against his wife, Aisha Mohammed Sani, for unlawfully arresting and detaining his father over alleged trumped-up accusation of child abduction.

    In the said suit, the first respondent is the Nigeria Police Force; the second respondent is the Lagos State Police Commissioner; the third respondent is the Area Commander of Lion Building, Lagos while Aisha is the fourth respondent.

    In the suit filed at the Federal High Court, Abuja Judicial Division, the applicant said the police, acting on the instruction of his wife, arrested and detained his father, Mr. Shettima Fasasi Yusuf, for three days and subjected him to torture.

    He averred that the inhuman arrest and detention of his father was carried out despite the pendency of a suit on divorce and custody of his three children at the Upper Area Court in Lokoja, Kogi State.

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    In an affidavit deposed to, Tasleem averred that his marriage became rocky when his wife refused to care for their children and emotionally detached herself from matrimonial duties.

    He averred that he met his wife many years ago at a polytechnic in Kaduna State and they entered into a relationship that blossomed into a marriage with three children- Khalid (10), Mohammed (8) and Hauwa (5).

    He noted that he helped his wife further her education up to master’s degree and got her a good job, first at his father’s school in Kogi State and thereafter when he moved his family to Lekki, Lagos.

    Tasleem averred further that his wife suddenly changed towards him and their children when she started returning home late, leaving the children at home to fend for themselves.

    He said his wife also abandoned him and their young children to do all the necessary house chores, including cooking and laundry.

    He averred that save for the intervention of neighbours, their children almost burnt down their home in the course of cooking when their mother did not return home in time and the gas cylinder blew up.

    He averred that after reporting his wife’s behaviour to appropriate persons and religious organisations without any positive change, he decided to move the children to his father’s residence in Lokoja, Kogi State, who in turn informed his wife that her children were with him and had been enrolled in his school, and that his wife subsequently came around to see the children.

    He explained that men of the Lion Building Area Command, accompanied by his estranged wife, stormed the premises of his father’s private school in Lokoja, Kogi State on October 12, 2024,, subjected him (father) to dehumanising treatment and subsequently took him to their station in Lagos where he was detained and further dehumanised for three days.

    He, therefore, sought a declaration that raiding, ransacking the peaceful home of the applicant, and abduction of the applicant’s children to hand them over to the 4th respondent (his wife) when there is already a pending action for divorce and custody of children before the Upper Area Court Lokoja is unlawful illegal and unconstitutional, null and void.

    “An order of perpetual injunction restraining the respondents by themselves, their agents, servants, employees and any police officer (s) and men from arresting or detaining the Applicant and his parents, agents, servants and privies or properties, into their custody or doing anything concerning this investigation which the Applicant was subjected to a continuous threat of wrongful arrest and unlawful detention.

    “An order mandating the respondents jointly and severally to pay the applicant the sum of N100 million only, as specific and general damages for all the trauma caused the applicant.”

    No date has been fixed yet for the hearing of the suit.

  • PROLOGUE: The year resilient

    PROLOGUE: The year resilient

    As the calendar unfurls its final pages, the narrative of 2024 crystallizes in the national consciousness as a miscellany of turbulence and torpor, victory and loss, despair and hope. The year unfolded like an epic of fire and water, each chapter inscribed with calamities and revivals that would define a generation. Every moment was a spark or ripple in a narrative of survival.

    Indeed, Nigeria’s mettle was tested, and from its crucible emerged stories of quiet valour and resilience. It was a year when the downtrodden became the indomitable, carving hope from despair and challenging every force that sought to obliterate them.

    The year began with tragedy in Bodija, Ibadan, where an explosion on January 16 razed lives and livelihoods, imprinting fiery devastation on the collective memory. This set the tone for tragic sequels that ran through the year – the most recent being the December tragedies. The nation’s heart skipped several beats as stampedes in Oyo, Anambra and Abuja – a few days to Christmas – cast a dark pall over the Yuletide, bringing sorrow to countless families.

    Like a macabre echo of the country’s systemic inefficiencies, these tragedies unfolded in markets, religious gatherings, and public spaces, claiming more than 60 lives. On December 18, a religious gathering in Ibadan, Oyo State turned into a nightmare as the push for blessings led to crushing losses. On December 22, two food aid distribution events spiralled into chaos in Okija, Anambra and Abuja, underscoring the pervasive hunger and desperation of the times. These tragedies claimed more than 60 lives. Yet they were not isolated incidents; they were stark reminders of the chasm between governance and the governed. Each stampede bellowed deeper socio-economic woes: the lingering shadows of poverty, the failure of crowd control mechanisms, and the urgent need for a systemic overhaul.

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    A  slew of economic reforms previously served as a rude jolt to the populace, with the floatation of the naira and subsidy removal deepening the cost-of-living crisis. By mid-year, organized labour, led by the NLC and TUC, downed tools in a nationwide strike over skyrocketing electricity tariffs and the delayed implementation of a minimum wage increase. Businesses shuttered, hospitals closed, and financial institutions ground to a halt. The impasse eventually birthed a new minimum wage of ₦70,000, a bittersweet victory in a sea of discontent.

    If the tragedies reflected the nation’s struggles, the commissioning of Aliko Dangote’s 650,000 barrels-per-day refinery heralded a potential renaissance in the oil and gas sector and added a glimmer of hope to the economic landscape.

    First producing diesel and aviation fuel, it began petrol refining in September, although supply-chain disputes with the Nigerian National Petroleum Corporation Limited (NNPCL) threatened its momentum. Despite these setbacks, the refinery’s progress hinted at the possibility of economic recovery. For the first time in decades, Nigeria took a decisive step toward energy independence. The refinery’s operations promised to slash reliance on imported refined petroleum, even as the triumph was marred by whispers of political intrigues and sabotage.

    On the fiscal front, the proposed tax reforms by Taiwo Oyedele’s committee signalled a monumental shift in Nigeria’s approach to economic governance. Simplifying tax structures, exempting low-income earners from personal income tax, and abolishing nuisance taxes were pivotal moves aimed at revitalizing the private sector and alleviating household burdens. These reforms sought to harmonize a fragmented system, planting seeds of hope for a more prosperous economic landscape.

    President Bola Tinubu’s “Budget of Restoration” sought to paint an ambitious picture of Nigeria’s future. With a staggering N47.9 trillion allocation, the government prioritized defence, healthcare, education, and infrastructure. Investments in military modernization, primary healthcare, and universal education aimed to address the country’s most pressing challenges. Yet, critics pointed to the budget’s fiscal deficit and questioned its feasibility amid dwindling revenues and mounting debts.

    August witnessed the eruption of the #EndBadGovernance protests, driven by young Nigerians reeling from economic hardship and political apathy. The movement began peacefully but descended into chaos, leaving scores dead and infrastructure vandalized. In the aftermath, the government’s response oscillated between suppression and dialogue, highlighting the nation’s volatile socio-political fabric.

    The political sphere was no less tumultuous. Key gubernatorial elections in Edo and Ondo States reaffirmed the APC’s grip on power. However, the fallout between Rivers State Governor Siminalayi Fubara and his predecessor, Nyesom Wike, epitomized the nation’s chronic political infighting. Burnt secretariats and failed reconciliations underscored the fragility of alliances.

    In a bold cultural pivot, President Tinubu’s administration re-adopted “Nigeria, We Hail Thee” as the national anthem, evoking mixed reactions. While some celebrated it as a nod to national heritage, others criticized the abruptness of the decision, viewing it as a distraction from pressing governance issues. Against the backdrop of these developments, the Supreme Court, in a landmark ruling, granted local governments full autonomy, severing their dependence on state governments. For decades, local councils languished under the overreach of state authorities, unable to administer their finances or conduct elections independently. The court’s decision boosts grassroots democracy, promising a new dawn for local governance. Yet, this victory was met with resistance from state governments, highlighting the perennial tug-of-war in Nigeria’s political theatre.

    Globally, the rise of opposition parties in major elections resonated with Nigerians yearning for change. In the political theatre, actors shifted their alliances and allegiances. The cracks in old structures deepened, while new players carved footholds in Nigeria’s evolving narrative. Amid controversies and reconciliations, the lines between legacy and change blurred, forcing a reexamination of what it means to govern and to dream. Yet, the domestic political landscape saw opposition figures like Reno Omokri and Daniel Bwala align with President Tinubu, while the People’s Democratic Party (PDP) and Labour Party (LP) presidential candidates, Atiku Abubakar and Peter Obi met thus reshaping the contours of political allegiance ahead of 2027.

    Despite the grim headlines, glimmers of heroism illuminated the year. Security forces rescued 14 kidnapped individuals in Katsina and freed 350 Boko Haram hostages from the Sambisa Forest. These victories, though scattered, underscored the potential for collective action against insecurity.

    On the global stage, Team Nigeria’s dismal outing at the 2024 Paris Olympics despite a hefty N12 billion budget, sullied the nation’s storied athletic history. Yet, redemption came at the Confederation of African Football (CAF) Awards, where Super Eagles’ Ademola Lookman was crowned as the African Footballer of the Year while Super Falcons’ Chiamaka Nnadozie clinched the female top prize.

    Lookman and Nnadiozie’s good fortune glimmered like a national lighthouse, to the rural corners where families rebuilt their lives with bare hands, thus affirming the lore that Nigeria’s greatest resource is not buried beneath its soil but carried in the hearts of its people. Their crowning offered a rare moment of national pride in an atmosphere previously sullied by sports mishaps. The Super Eagles’ travails—from the AFCON final loss to logistical nightmares in Libya—were a sobering contrast but a reminder of the resilience intrinsic to Nigerian sportsmanship.

    Amid the high and lows of national drama, the national power grid’s record-breaking 12 outages became a symbol of systemic failure. Each blackout reinforced the depth of infrastructural decay, while serving as a call to reinvent and rebuild.

    Certainly, the trials of 2024 were not confined to nature’s fury. The economic upheaval afflicted the streets, offices, and markets. Currency reforms tested wallets and wills; strikes paralyzed cities yet stirred solidarity. Protests erupted, their chants reverberating as defiance and a plea for deliverance. Beneath it all, a nation’s pulse quickened with the persistent beats of hope and endurance.

    Behind the turmoil, a cultural renaissance quietly unfolded. The re-adoption of an old anthem, the resilience of indigenous industries, and grassroots movements reclaiming spaces of expression signalled a nation’s refusal to let its identity be eroded.

    As the sun sets on 2024, Nigeria’s story is one of unyielding spirit and boundless hope. It is not merely a tale of survival but a chronicle of endurance and stoic optimism, a narrative of dreams deferred but not destroyed, a reminder that hope would always light the nation’s path even in the direst of times.

  • Movers and shakers of economy in 2024

    Movers and shakers of economy in 2024

    In this year 2024 roundup, IBRAHIM APEKHADE YUSUF highlights some of the key players who not only bestrode the nation’s socioeconomic landscape like a colossus but whose trials and triumphs left indelible imprints in the major commanding heights of the economy in the last 12 months.

    With the benefit of hindsight the last 12 months of the year is not one to forget in a hurry and the reason for this is not far to seek: the fact remains that the last 12 months witnessed deluge of events across all socioeconomic fronts such that their rapidity and sequence cannot be captured in one breath in a manner of speaking!

    Cardoso

    One man who featured as major dramatis personae in nation’s socioeconomic landscape in the course of the outgoing year was Dr. Olayemi Cardoso and the reason is as clear as the day: as one of those holding the levers of the economy it is just as well that he should play a major role in the scheme of things.

    From January till date, Cardoso was one name on people’s lips. From the refloating of the naira, to announcement of new capital base, to the windfall tax and other policy decisions taken by the apex regulatory body of banks, Cardoso either stepped on toes, got some backlashes and some cheers all in good measures too!

    Refloating of the naira

    One of the major upsets was the refloating of the naira, a policy brief announced in June 2023 but barely few weeks in the life of the President Bola Ahmed Tinubu administration but whose effects began to bear its fangs in early January, a development which saw the local taking a serious hit and almost consigned to the intensive care unit.

    Things took a turn for the worst as virtually anybody with any appreciable liquid assets wanted to convert their assets to dollars in order to maintain its store of value as the naira.

    Apparently justifying the bad fortune of the naira, Cardoso had on February 6, 2024, during his appearance before members of the House of Representatives, attributed the currency depreciation to the rising demand for foreign goods and a simultaneous decline in the supply of US dollars.

    He explained that imports requiring dollars amounted to $16.65 billion in 1980 but noted that by 2014, the annual import expenditure had significantly surged to $67.05 billion. However, it gradually decreased to $54.71 billion as of last year. Food imports also escalated from $2.63 billion in 1980 to $14.84 billion in 2019.

    Also in March 2024, the CBN announced new minimum capital requirements for banks, including: Commercial banks: The minimum capital base for commercial banks with national authorisation is N200 billion, and N50 billion for those with regional authorisation. Merchant banks: The minimum capital requirement is N50 billion. Non-interest banks: The minimum capital requirement is N20 billion for national authorisation and N10 billion for regional authorisation with a deadline set for March 31, 2026.

    2024 winners

    Dangote

    Alhaji Aliko Dangote literally made good this year judging by the great milestones he achieved in the last 12 months. The billionaire businessman and Africa’s richest person controls Dangote Industries, a closely held conglomerate including: Dangote Cement, and the continent’s largest oil refinery. It also has interests in sugar, salt, oil, fertilizer and packaged food. His biggest asset is the Dangote Oil Refinery, Africa’s largest refiner, which began operating in early 2024. He owns 92.3% stake of the project which is valued based on the amount it cost to build it: $20 billion. He also owns a fertilizer plant with capacity to produce up to 2.8 million tonnes of urea annually. Its value is based on a net present value calculation by an independent analyst that assumes a 50% utilisation rate.

    Several of Dangote Group’s companies are listed on the Nigerian Stock Exchange. He owns 86% of the country’s biggest cement producer, Dangote Cement as well as stakes in Dangote Sugar, Nascon Allied Industries and United Bank for Africa. His stakes in the publicly traded companies are held directly and through Dangote Industries, a unit of Dangote Group. He also owns closely held businesses operating in food manufacturing, agriculture, packaging and other industries, which are valued based on their investment cost according to Dangote Group’s 2023 audited financial statements.

    The billionaire owns six residential and commercial properties in Lagos. They are valued using the capitalisation method, using rental income provided by Dangote’s spokesman, Anthony Chiejina, and capitalisation rates from CBRE Broll Nigeria.

    The value of his combined cash holdings in naira and dollars is based on information from Dangote in 2024.

    From available information, Dangote Refinery is now operating at 85% capacity and is on course to deliver European-standard products by January next year, according to an executive of the company.

    The 650,000-barrel-per-day Dangote oil refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity but has been struggling to secure sufficient crude locally.

    “We have gone up to 550,000 bpd, that is 85% capacity in crude distillation,” Edwin Devakumar, head of the refinery.

    The refinery was forced to source crude from international markets following a dispute with the Nigerian state-oil firm the NNPC over a crude supply deal under which Dangote had agreed to sell a 20% stake in the refinery to NNPC for $2.76 billion.

    Read Also; NCC okays disconnection of Exchange Telecom by MTN over unpaid debt

    “Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of five years through deductions on crude oil that they supply to us and from dividends due to them,” a Dangote spokesperson said.

    “Unfortunately, NNPCL was later unable to supply the agreed 300,000 barrels a day of crude given that they had committed a greater part of their crude cargoes to financiers with the expectation of higher production which they were unable to achieve,” the spokesperson said in a statement on Wednesday.

    Dangote Refinery began processing crude in January into products including diesel, naphtha and jet fuel, and started processing petrol in September.

    Port Harcourt Refinery stages a comeback!

    The Nigeria National Petroleum Company Limited (NNPCL) recorded a great feat with the restoration of the Port Harcourt Refinery 60,000 bdp capacity marked by the official commencement of petroleum product loading last November.

    According to analysts, the good fortunes of the hitherto moribund refinery was no doubt a testament to the leadership of NNPC Limited’s Group Chief Executive Officer, Mele Kyari, whose unwavering dedication and commitment he said, were instrumental in overcoming challenges to achieve the milestone.

    With the successful revival of the Port Harcourt refinery, analyst s further expressed optimism that the scheduled reactivation of both the second Port Harcourt refinery, Warri and Kaduna refineries, will help in no small measure to turn the tide positively for the nation’s quest for sustainable oil and gas sub-sector.

    MTN Nigeria

    MTN Nigeria, the country’s biggest telco, reported that its data revenue reached N804bn in the first nine months of 2024, surpassing voice revenue, as data demand surged across the company’s user base.

    The milestone marks a shift in MTN’s revenue structure, with data now outpacing voice as the telecom giant’s leading revenue stream.

    In its unaudited financial report for the nine months ended Sept. 30, 2024, the telco disclosed that the jump in data usage was driven by expanded 4G coverage, higher smartphone penetration, and increased demand for digital services.

    The N804bn in data revenue reflects a 15 per cent increase from the N701bn earned during the same period in 2023.

    MTN Nigeria’s overall revenue for the nine-month period climbed 34 per cent year-on-year to N2.37tr, with data and digital services serving as key contributors.

    The Chief Executive Officer of MTN Nigeria, Karl Toriola, stated, “In the first nine months of 2024, we sustained the growth in our underlying operating performance—underpinned by our resilient business model and operational agility—despite challenging conditions.”

    BUA

    The rivalry between Aliko Dangote, Chairman, Dangote Group, and Abdulsamad Rabiu, Group Chairman/CEO, BUA Group, has yielded another refinery being proposed for construction in Akwa Ibom State.

    For years, the duo have fought fiercely to establish which, between Dangote Group and BUA Group, controls both the sugar and cement sectors of the Nigerian economy.

    The two new refineries are being proposed for two locations in Eket and Onna local government areas in the South-South state of Akwa Ibom.

    The construction of one of the refineries is an initiative of another Nigerian Billionaire and Chairman/CEO, BUA Group, Abdulsamad Rabiu.

    The official said on completion, the BUA refinery would have the capacity to produce not only about 200,000 barrels per day of premium motor spirit (PMS), popularly called petrol, but also a variety of other petroleum products, including Euro-V fuels, automated gas oil (Ago), commonly called diesel, jet A1 fuel, liquefied petroleum gas (LPG), or cooking gas, and polypropylene for manufacturing of plastic materials for the domestic and regional markets.

    The Chairman/CEO of BUA Group, Abdulsamad Rabiu, was quoted to have said that when completed the refinery would contribute significantly to the effort  to reduce Nigeria’s dependence on imported petroleum and Petrochemicals products.

    “The refinery and petrochemicals project is in line with BUA Group’s vision to develop local capacity in key sectors of the nation’s economy where we can add the most value and where the raw materials can be sourced locally.

    “Once completed, this RFCC-based complex will produce high-quality gasoline, diesel, and jet fuel meeting Euro-V specifications for the Nigerian and larger regional markets,” he said.

    Okonjo-Iweala

    The General Council of the World Trade Organization (WTO) agreed on 29 November by consensus to reappoint Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on 1 September 2025. This decision reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO.

    The reappointment process, initiated on 8 October 2024, was overseen by Ambassador Petter Ølberg of Norway, Chair of the General Council. With no additional nominations submitted by the 8 November deadline, Dr. Okonjo-Iweala stood as the sole candidate. The process was conducted in a fully open and transparent manner, adhering to the WTO’s “Procedures for the Appointment of Directors-General” (WT/L/509).

    During a special General Council meeting on 28-29 November 2024, Dr. Okonjo-Iweala outlined her forward-looking vision for the WTO. Following her presentation and a Q&A session with members, the Council formally endorsed her reappointment by consensus.

    “The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organisation. Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.

    “As we look ahead, the Council fully supports Dr. Okonjo-Iweala’s commitment to ensuring that the WTO remains responsive, inclusive, and results-driven. Her leadership will be critical as the organization continues to advance a resilient, rules-based, and equitable global trading system.”

    Okonjo-Iweala first assumed office as Director-General on 1 March 2021, becoming the first woman and first African to lead the WTO. Her first term concludes on 31 August 2025. Her reappointment highlights the strong support for her efforts to enhance the WTO’s relevance and capacity in addressing the evolving challenges of global trade.

    Otedola

    After a seven years hiatus, billionaire businessman Femi Otedola in 2024 reclaimed his coveted position among the world’s billionaires on the Forbes list.

    Otedola made the Forbes 38th Annual World’s Billionaires List, in a comeback described as unprecedented by economic watchers.

    Renowned as the bossman of Geregu Power and a key figure in Nigeria’s financial sector through his holdings in First Bank of Nigeria Holdings Plc (FBN Holdings), Otedola has orchestrated a strategic reinvention of his investment portfolio. His decision to divest his shares in Forte Oil, a move that marked his pivot into the energy sector, proved to be a pivotal moment in his resurgence.

    Fuelling Otedola’s ascent to billionaire status is his diverse asset portfolio, characterised by offshore cash reserves, extensive international real estate holdings, and strategic investments in Nigeria’s leading banks, including FBN Holdings and Zenith Bank. Furthermore, Otedola’s recent foray into Dangote Cement, Africa’s largest cement maker, evidences his commitment to maximising returns and expanding his wealth across diverse sectors.

    With an estimated net worth of $1.7 billion, Otedola has rejoined the ranks of Africa’s richest individuals, solidifying his status as a formidable force in the global billionaire landscape. His resurgence also contributes to the continent’s growing cohort of billionaires, which now stands at 20 – a testament to Africa’s burgeoning economic potential and wealth creation. On a global scale, Otedola’s return to the billionaire ranks mirrors a broader trend of wealth expansion, with Forbes identifying an unprecedented 2,781 billionaires worldwide.

    Major deals of 2024

    Surely, this year was a year of mergers and acquisitions across all fronts not experienced since 2014. Expectedly, the nation’s oil and gas sector was top on the list.

    For instance, in January 2024, a powerhouse team of five smaller upstream oil companies—ND Western, Aradel Holdings, Petrolin Group, First E&P, and Waltersmith Group—joined forces to strike a major deal: the acquisition of Shell Petroleum Development Company (SPDC). For context, SPDC was Shell’s onshore arm in Nigeria, acting as the engine behind the oil giant’s shallow-water operations in the region.

    The deal, with a net book value of $2.8 billion, includes an initial payment of $1.3 billion alongside future cash payments totaling $1.1 billion to Shell.

    The deal which initially stalled as a result of  disagreement between Shell and the Renaissance consortium due to a lack of regulatory approval was however restored on December 18, when the Federal Government finally gave its nod to the deal which would be the largest single M&A deal in Nigeria in over a decade.

    In July, Chappal Energies went after TotalEnergies’ stake in onshore oil and gas assets. Chappal, the “new kid on the block,” made a series of bold moves that quickly brought it into the spotlight in the oil and gas sector. However, the deal is yet to receive regulatory approval.

    TotalEnergies EP Nigeria is putting up for sale its 10 percent stake in the SPDC JV, which operates 18 oil mining licenses in Nigeria. The JV’s equity owners include NNPC Limited with 55 percent, SPDC with 30 percent, and NAOC with 5 percent.

    What’s intriguing is that SPDC is now under Renaissance’s ownership, while NAOC is controlled by Oando, transforming the JV into a fully Nigerian venture.

    Also after more than 30 months of awaiting regulatory approval, Seplat finally received ministerial approval for its acquisition of Mobil Producing Nigeria, the controller of ExxonMobil’s onshore assets in Nigeria.

    The deal valued at $800 million was finally completed in December 2024. In another development, Oando’s acquisition of Eni’s onshore assets, held in NAOC, broke ground as the first oil and gas deal to receive ministerial approval, setting the stage for a wave of other IOCs to exit Nigeria’s onshore terrain.

    The $783 million deal received ministerial approval in July, and was completed by August. Unlike the above listed deals that involved a 100 percent takeover, this case is quite different. In June 2024, Diageo announced its decision to divest from Guinness Nigeria, disclosing plans to sell its 58 percent stake in the company to Tolaram Group.

    This deal valued at around N104 billion saw Diageo exit from Guinness Nigeria, and inadvertently, from the Nigerian market.

    Much like the oil and gas sector, this deal signaled a growing trend of international players exiting the Nigerian brewery scene, with Heineken also making its departure from Champion Breweries earlier in the year.

    Nigeria’s agricultural scene also buzzed with action this year, as local firms step up in big ways. In March 2024, Oak and Saffron—a special purpose vehicle created by Saroafrica International—took over Presco Plc. By acquiring an 86.7 percent stake in SIAT Group, the majority shareholder in Presco, Oak and Saffron handed majority control of the company to Saroafrica.

    Just as Saroafrica’s bold move was still making waves, Presco turned heads with a $125 million bid to acquire Ghana Oil Palm Development Company (GOPDC), one of Ghana’s largest oil palm producers.

    In September, FBN Holdings disclosed the sale of its investment banking subsidiary, FBNQuest Merchant Bank, to a consortium known as EverQuest Acquisition LLP.

    The consortium comprises Custodian Investment, Aion Investment, and Evercorp Industries, the new owners of Champion Breweries. The move by FBN Holdings was in tandem with a proposed move by some banking groups to raise new capital for their recapitalisation efforts.

    Although the overall value of this deal is unknown, FBN Holdings in its 9M 2024 statement valued the “assets put up for sale” at around N465 billion.

    Following the Central Bank of Nigeria’s recapitalisation mandate, Unity Bank and Providus Bank announced a strategic merger in August to bolster their financial strength. The merger which is Nigeria’s banking sector first in half a decade will receive a banking support of N700 billion from the CBN.

    First Bank

    According to Africa’s Top 100 Banks report of 2024, Nigeria’s top bank by Tier 1 ranking is FBN Holdings (First Bank of Nigeria), ranked at 15 (down one place), with a capital of $1.9billion. It was closely followed by Access Bank (16th) and Zenith Bank (17th, down from last year’s ranking as Nigeria’s top bank at 12th).

    According to the report, African banks are taking a lead in drawing together the continent’s economies, and increasingly operate across borders.

    Nigerian banks rank highly when it comes to Return on Equity (ROE), a key measure for investors. The top-ranked bank by this measure is Rawbank of the Democratic Republic of the Congo (DRC), a returning entrant at 88th in the table with net profit of $179million on Tier 1 capital of $286million, for a dramatic 62 percent ROE. HSBC Bank Egypt is close behind, with ROE of 61 percent for net profit of $397million on Tier 1 capital of $649million.

    Nigeria’s giant Guaranty Trust achieved a very strong 57 percent ROE on Tier 1 capital of $1.1billion. Four Egyptian banks are among the continent’s best yielding for investors: Housing and Development Bank (ROE 57 percent), Credit Agricole Egypt (55 percent), Commercial International Bank (CIB) (49 percent), and Abu Dhabi Islamic Bank – Egypt (48 percent).

    Ajaero

    The demand for minimum wage increase reached a high crescendo with the leadership of the Nigeria Labour Congress, Joe Ajaero, proposing a whopping N615,000 as minimum wage.

    Though considered somewhat outlandish and out-of-this-world, the call for minimum wage hike by the organised labour would later lead to a chain of events culminating in a new wage bill already being implemented across the states of the federation, including the organised private sector.

  • Stars who made the year rock

    Stars who made the year rock

    The year 2024 will go down in history as one of the most significant years in Nigeria for many reasons. The year recorded several occurrences from death to separation, births, and other achievements.

    It is equally a known fact that year in, year out, celebrities on the Nigerian showbiz stage, albeit the world, continue to make news for different reasons, ranging from personal to emotional, right and wrong motives. The drama generated by some of the biggest players in the Nigerian entertainment industry in 2024 didn’t stop in the slightest. And like previous years, 2024 was not devoid of many highs and lows that include deaths and births, endorsements, controversies, and laudable feats that gave challenges and good news to different individuals.

    The Nation Entertainment team led by ASSISTANT ENTERTAINMENT EDITOR, GBENGA BADA, ADENIYI ADEWOYIN, OLAITAN GANIU, TUNRAYO ILESANMI, SAM ANOKAM, compiled a list of the biggest newsmaker in the entertainment world in 2024.

    Funke Akindele makes history

    Actress and filmmaker, Funke Akindele’s movie, ‘A tribe called Judah’ made history in January when it became the first ever Nollywood movie to hit one billion Naira at the Box Office. 

    It took just one month to achieve this milestone. The Nollywood movie which was produced and co-directed by Funke Akindele also stars Uzor Arukwe, Tobi Makinde,Timini Egbuson, Nse Ikpe Etim,, Jide Kene Achufusi, Uzee Usman and others. 

    Davido finally weds Chioma in Lagos

    One of the most heartwarming stories of 2024 was the wedding of Afrobeats superstar Davido to his longtime partner Chioma Rowland. After enduring highs and lows in their relationship, the couple tied the knot in an intimate yet lavish ceremony that was the talk of social media for weeks. Fans celebrated their union as a symbol of love’s triumph over challenges, and the event reaffirmed Davido’s love and commitment to Chioma, his as assurance.

    Onyeka Onwenu Sisi Quadri, Mr. Ibu, Junior Pope, others passed on

    The passing away of songbird Onyeka Onwenu was one of the biggest blows that hit the Nigerian entertainment scene in 2024. Onyeka died while doing what she loves most, singing, on July 30.

    On March 1, 2024, Tolani Quadri Oyebamiji aka Sisi Quadri was pronounced dead at the Ladoke Akintola University Teaching Hospital in Ogbomoso (LAUTECH). The shocking news of the death of Sisi Quadri had the film industry grieving for several weeks.

    After battling health challenges for several months, John Ikechukwu Okafor, affectionately known as Mr. Ibu, passed away on March 2, 2024, at the age of 62. 

    The comedic genius brought laughter to countless fans across Nigeria and beyond during his lifetime.

    In the same vein, Nollywood lost another talent to an untimely death on April 10, 2024, when actor Junior Pope Odonwodo got involved in a  boat accident on the Anam River in Anambra State while enroute to a film shoot in Asaba, Delta State. The accident also claimed the lives of three crew members.

    Other big names, who passed away in 2024 include Aduke Gold, Dele Gold, Amaechi Muonagor, Adejumoke Aderounmu, Deji Aderemi aka Baba Olofa Ina, Ethel Ekpe, and Charles Olumo aka Agbako, and Andy Best.

    Bobrisky serves jail term

    All through 2024, controversial social media influencer, Okuneye Idris Olanrewaju aka Bobrisky was in the news for all the different reasons. Bobrisky was, first, arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly defacing naira banknotes. He was charged  to the court and was remanded in prison after pleading guilty to four counts of currency abuse, an offense carrying a maximum penalty of six months in prison. Bobrisky served his sentence and was released on August 5, 2024. He was later arrested on October 20, 2024, by the Nigeria Immigration Service (NIS) at the Seme border while attempting to flee the country in the midst of an investigation following an allegation of corruption made public by VeryDarkMan. 

    Also the agency filed a three-count charge against Pascal Okechukwu popularly known Cubana Chief Priest for abusing the naira.

    Read Also: Imo community decry alleged extortion, harassment of youths by security personnel

    P-Square final separation

    The second separation of the legendary music duo P-Square ended fans’ hopes of seeing their favourite artists sing together in 2024. The year was a rollercoaster for the twin brothers, who began hurling insults and accusations at one another. Paul, while confirming the split, accused Peter of using the EFCC to arrest him. He also accused Peter of stealing a song that he wrote. The music duo’s separation rocked the entertainment industry, and fans still wish they had reconciled.

    VeryDarkMan’s many moments

    Several celebrities were at loggerheads with internet critic VeryDarkMan in 2024. VeryDarkMan reportedly made defamatory accusations against rapper Folarin ‘Falz’ Falana and his father, Femi Falana.

    It all began when VDM released an audio recording of Bobrisky alleging that he never stayed in jail after being convicted and that Falz connected him with his lawyer father to obtain a presidential pardon after paying millions.

    VDM then made some disparaging remarks about the rapper’s family, prompting them to file a lawsuit against him. He also had back and forth with several other celebrities in the course of the year.

    Kate Henshaw, Saidi Balogun lose loved ones

    In 2024, a number of Nollywood stars lost their loved ones ranging from children to wives and parents.

    From Henshaw to Wizkid, it was the passing away of their beloved mothers.

    For Kate Henshaw, it was a sad moment when her beloved mother passed away. The sad occurrence shook her and it took the support of associates, friends and family members to help lighten the weight of the grief.

    Wizkid couldn’t hide his tears and grief as the global music star revealed his pain and grief to the world.

    Saidi Balogun was shaken to his core when he lost his daughter, Zeenat. The sad news was announced by Ronke Oshodi Oke on social media.

    Zeenat was Balogun’s daughter with another woman before his involvement with Fathia Williams.

    Another actor Tayo Adeleye lost his wife. The news had the actor grieving for many months before returning to location. The death came four years after she tied the nuptial knot with the actor in December 2020.

    Others who lose their relatives include prolific filmmaker, Kunle Afolayan who his mother passed away at age 81, Dare Melody and Mike Dada also lose their wives to death.

    Kollington Ayinla survives health condition

    Veteran Fuji singer, Kollington Ayinla was hit with a medical condition that scared the entire music industry, majorly the Fujidom, in 2024. Speculations about his death went viral on social media as the thespian was admitted LASUTH for weeks. The 75-year-old musician got the support of several and well meaning fans from and outside the shores of Nigeria to survive the condition. He went on to release a single following the ordeal.

    AY’s marriage hit the rock

    Famous comedian AY Makun and his wife Mabel went their separate ways in 2024.

    The comedian, actor and film producer lost his marriage 14 years after it was contracted in 2008. The estranged couple have two children together. The dissolution of their marriage was also received with shock from the public as his wife hinting at irreconcilable actions as the cause of the marriage crash. AY accepted the blame but noted that his decision not to defend himself in the eye of the public should be seen as a sign of weakness.  

    Kunle Remi ties the nuptial knot

    Famous Nigerian actor, Kunle Remi tied the nuptial knot with his wife, Boluwatiwi in a traditional ceremony. The traditional ceremony took place in Lagos State. The wedding attracted influential personalities, actors, actresses and Nigerian billionaire, Femi Otedola, a brother of the bride’s mother, among other dignitaries.

    Rema makes history

    Afropop singer, Divine Ikubor, aka Rema made history as the first African artist to win a Chinese music award. The singer achieved the feat after his song ‘Calm Down’ remix with American superstar Selena Gomez won the Best Collaboration of the Year at the 2024 Hito Music Award in the Republic of China. In the same year, Rema performed alongside Rihanna at the lavish wedding ceremony of an Indian billionaire’s son.

    Laide Bakare gets government appointment

    Governor Ademola Adeleke of Osun State appointed popular Nollywood actress, Laide Bakare, as his Senior Special Assistant on Entertainment, Art, Culture, and Tourism.

    The actress tagged the move as the dawn of her political career in Osun state. She has since been shuttling between Lagos, Osun and the United States of America.

    Also Eniola Badmus got appointed as the Special Assistant on Social Events and Public Hearing to the Speaker of the House of Representatives of Nigeria, Tajudeen Abbas.

    Davido gives again

    In February, Afrobeats star Davido announced a donation of N300m to orphanages.

    The singer said he would make the donation through his foundation, The David Adeleke Foundation, as his yearly contribution to the nation.

    The father of three has further announced that the philanthropic gesture will be his yearly contribution to Nigeria and the general public.

    The donation comes one year after he donated funds he got on his 30th birthday to several orphanages across the country.

    Mavin Records goes global

    Don Jazzy led Mavin Records went global in 2024 when Universal Music Group bought into the recording house. According to sources, UMG bought a major stake in Mavin Records.

    The deal will see Mavin founder and CEO Don Jazzy and COO Tega Oghenejobo continuing to run the company. UMG boss Sir Lucian Grainge also confirmed the partnership.

    Sabinus, Dayo Amusa become parents

    Popular skit maker, Emmanuel Chukwuemeka Ejekwu, aka Sabinus, and his wife, Ciana Chapman, have welcomed their first child together. Sabinus and Ciana tied the nuptial knot at a private ceremony in early 2023.

    Similarly, 41-year-old Nollywood actress, Dayo Amusa, became a mother as she gave birth to a baby boy. “Alhamdulilah, my treasure has arrived. It’s a boy,” she announced.

    Also actor Chinedu Ikedieze otherwise known as Aki and his wife, Nneoma Nwaijah was overjoyed as the couple welcomed their new bundle of joy.

  • Inside the plight of Bayelsa’s oil-producing communities

    Inside the plight of Bayelsa’s oil-producing communities

    Located in the heart of Nigeria’s Niger Delta, Bayelsa State epitomises a paradox of wealth and hardship. Despite its abundant oil reserves that drive the national economy, local communities endure crippling poverty, environmental degradation, and a host of socio-economic challenges. The impact of oil extraction is profound, leaving behind a legacy of ecological damage and human suffering. IBRAHIM ADAM explores the deep-rooted systemic issues plaguing the state, from environmental crises and health emergencies to the erosion of cultural vitality

    Bayelsa State’s oil-producing communities are now at a crossroads despite President Bola Ahmed Tinubu’s pledge to sustain its collaboration with the state government, so as to address oil spills and gas flaring in the Niger Delta region.

    In a new report titled “On-the-Spot Assessment of Oil and Gas Exploration Activities in Bayelsa State, Nigeria,” the Human and Environmental Development Agenda (HEDA Resource Centre) takes a look at the untold challenges facing communities in Bayelsa.

    The report noted that the challenges are immense, but so are the opportunities for transformation, even as it stated that it is imperative for all stakeholders’ the government, corporations and communities to work together to build a sustainable future.

    Some resident’s view aptly captured the above observation when he said: “We want a life where we can thrive without being poisoned by the wealth beneath our feet.”

    Environmental catastrophe

     Despite the immense wealth generated from oil exploitation, the report highlights the severe challenges confronting Bayelsa’s communities. Environmental degradation has reached alarming levels, with relentless oil spills contaminating water sources, farmlands and the air. The health consequences are devastating, as residents are exposed to hydrocarbons associated with cancer and chronic illnesses.

    A resident of Sagbama Local Government Area who didn’t want his name mentioned expressed despair over the situation. He said: “Our waterways are polluted, farms destroyed and our health is worsening. The government and companies seem indifferent to our plight.”

    The socio-economic impact is equally harrowing. Traditional livelihoods such as fishing and farming have been decimated. In communities such as Brass and Nembe, fishermen now struggle to find aquatic life in waters once teeming with biodiversity.

    One of the residents of the area remarked: “Oil pollution has destroyed the water’s ecosystem. Everything is gone.”

    Adding to their woes, the report emphasised on lack of transparency on the part of International Oil Companies (IOCs) that exacerbates the crisis. The unclear handling of asset divestments and environmental obligations often leaves communities marginalised. Insufficient remediation efforts and poor accountability have further deepened public mistrust, leaving Bayelsa’s residents feeling abandoned in the face of mounting challenges.

    Communities in health crisis

    Access to healthcare remains a critical challenge for many communities in Bayelsa State. In Kolokuma/Opokuma, residents unanimously reported suffering from severe health effects without adequate medical support. The report underscores the urgent need for establishing well-equipped health centres and implementing regular medical monitoring to ease the growing health burden on affected populations.

    The health impact of oil exploration on Bayelsa’s residents is staggering. A sobering 79 per cent of residents reported health issues directly linked to oil pollution. Contaminated water and air have exposed them to harmful hydrocarbons, fueling a rise in cancer cases, respiratory illnesses, and congenital deformities.

    Gas flaring compounds the crisis, significantly contributing to respiratory problems. A mother from Nembe voiced her concern: “Our children often complain of stomach pains. We’re unsure if it’s the water, fish, or air causing it.”

    These findings paint a harrowing picture of the toll oil exploration takes on the health and well-being of Bayelsa’s communities, highlighting the pressing need for systemic interventions.

    Socio-economic dislocation of livelihood

    The HEDA report paints a grim picture of how oil-related environmental damage has devastated traditional livelihoods in Bayelsa. Farming and fishing, once the backbone of local economies, have been reduced to shadows of their former selves. Farmers report drastically diminished crop yields, while fishermen struggle with waterways polluted beyond recovery, leaving fish stocks severely depleted.

    This environmental and economic collapse has driven many into poverty, with some turning to illegal artisanal refining just to survive. A farmer from Ekeremor lamented: “Our lands used to be fertile before oil came. Now, production is low, and we barely get by.”

    The socio-cultural fabric of these communities has also suffered significant strain. Corruption and internal conflicts, fueled by the oil industry’s pervasive influence, have eroded trust and traditional values. Once dedicated to community development, youth leadership roles have become entangled with oil-related interests, deepening divisions and weakening communal bonds.

    The report calls for urgent community empowerment initiatives to restore traditional livelihoods and rebuild trust, offering a pathway to resilience and unity for Bayelsa’s embattled communities.

    Broken system of corporate, government responsibility

    Both International Oil Companies (IOCs) and the government agencies have fallen short in addressing the environmental and social toll of oil exploration. The report reveals that over 57 per cent of residents believe the government fails to hold IOCs accountable, while a staggering 90 per cent see no tangible benefits from the Environmental Remediation Fund.

    Frustrated by the lack of support, residents of Southern Ijaw pleaded: “We need the government to help us with healthcare, education and farming.”

    The communities also criticised lack of transparency in IOC operations. Asset divestments are seen as poorly communicated, with minimal efforts to involve the people most affected.

    One resident voiced his frustration: “Oil companies don’t take us seriously; they destroy our environment and force us to travel miles just to fish.”

    This absence of clear communication has left communities feeling excluded and powerless in decisions that shape their lives. The report urges stricter regulatory enforcement and greater transparency to rebuild trust and ensure that communities are no longer sidelined in critical matters.

    Voices from community leaders

    Discussions with community leaders and key stakeholders revealed ongoing struggles, including crumbling infrastructure, limited healthcare access, and a lack of adequate socio-economic support. Participants stressed the urgent need for comprehensive environmental remediation and stronger accountability from both the government and International Oil Companies (IOCs).

    One participant expressed the dire reality: “Fish from our rivers taste like kerosene. We are dying slowly.”

    Another voiced concern over the militarisation of the region: “Surveillance personnel harass us regularly, making us feel unsafe in our own homes.”

    The discussions also brought to light the human rights abuses tied to oil exploration. They emphsised that they frequently faced harassment and intimidation from security forces employed by IOCs; compounding the struggles of already vulnerable communities.

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    The report calls for immediate action to address these human rights violations, emphasising the need to protect and empower affected populations.

    $12b needed to clean up Bayelsa oil spill

    The Bayelsa State Oil and Environmental Commission has emphasised that a staggering $12 billion is required to remediate the damage caused by oil pollution in the southern part of the state over the next 12 years.

    In a recent report, the Commission placed significant blame on Shell and the Italian oil giant, Eni for being major contributors to the region’s widespread contamination. The investigation, initiated in 2019, relied on forensic evidence, blood samples from affected residents, and corporate data to build its case.

    The report shows that the findings are alarming, with toxic pollutants in the soil, water, and air, as well as in the blood of local residents, were found to be many times above safe limits. These toxins have been linked to severe health risks, including burns, respiratory issues, and heightened cancer rates.

    A Shell Petroleum Development Company spokesperson declined to comment on the findings, claiming the company had not seen the final report. Meanwhile, an Eni representative attributed the spills to theft, sabotage and illegal refining activities, emphasising that the company is committed to addressing all spill incidents. The spokesperson added that “Eni conducts its activities according to the sector’s international environmental best practices, without any distinction on a country basis.”

    However, the Commission’s findings pointed at poorly executed oil company-led cleanups have often exacerbated contamination, further polluting the soil and groundwater. Gas flaring, a routine practice in the region, has also compounded the health risks for local communities.

    Using a United Nations cleanup model first employed in Ogoni land over a decade ago, the Commission calculated the immense cost of restoring Bayelsa’s environment. The report highlighted that the region, once home to one of the world’s largest mangrove forests teeming with ecological diversity, is now one of the most polluted places on Earth.

    “At least $12 billion is needed to clean up the soil and drinking water, reduce the health risks to residents, and restore the mangrove forests essential for flood prevention and ecological balance,” the report emphasised.

     Bayelsa to sue oil companies for decades of environmental pollution

    The Bayelsa State Government has resolved to sue the IOCs operating in the state over oil pollution that has persisted for more than six decades. Governor Douye Diri made this announcement while addressing the State Executive Council meeting in Yenagoa, where the final report of the Bayelsa State Oil and Environment Commission was presented.

    He said: “After a review of an advance copy of your report, I can affirm that it captures the essence of our trials while outlining a hopeful pathway towards resolution. Your insights will serve as a beacon, guiding us towards actionable solutions and inspiring us to restore dignity and opportunity to our people.”

    The governor described the report “An Environmental Genocide: Counting the Human and Environmental Cost of Oil in Bayelsa, Nigeria,” as deeply alarming.

    He was encouraged by the revelation that in most industrialised countries, two principles “polluter pays” and “no fault liability” are foundational to regulating extractive industries.

    He explained: “These principles mean that those who own and operate facilities are responsible for the damage caused by their pollution, even if they are not at fault.”

    Governor Diri also indicated the government may pursue legal action outside Nigeria. He emphasised that “the perennial excuse by the IOCs that nearly ‘90 per cent of leaks are due to sabotage’ would not find accommodation in foreign jurisdictions. This is why we are pleased that this commission has strengthened our capacity to litigate anywhere in the world,”

    The governor quoted parts of the report, which highlighted that Bayelsa bears 25 per cent of Nigeria’s oil pollution. He cited a study estimating that in 2012, oil spills in Nigeria, particularly in the Niger Delta, caused over 16,000 additional neonatal deaths, saying: “Even one life lost to accommodate the greed of oil exploration is one death too many.”

    Diri also pointed out the severe oil contamination in Bayelsa: “It has been so heavy that, according to estimates, as much as one and a half barrels of oil have been spilled in Bayelsa for every man, woman, and child living in the state today. The stark reality is devastating: every Bayelsa resident is affected, our lives perpetually endangered. The brutal implication: we are either already dead or waiting to die.”

    The report also highlighted the significant oil revenue generated from Bayelsa’s production. Since 2006, oil from the state has generated over $150 billion for the Federal Government, with an average of $10 billion in government revenues per year.

    Path to redemption

     The HEDA report noted that immediate and sustained action is critical to address the challenges faced by Bayelsa State’s oil-producing communities. It calls for a comprehensive remediation effort, demanding that International Oil Companies (IOCs) clean up oil spills and restore the environment, with the report noting that: “adequate compensation for affected communities is non-negotiable.”

    The report further urges the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to enforce stricter compliance with decommissioning standards to ensure regulatory effectiveness.

    In addition, HEDA highlights the importance of community empowerment programs, which should focus on rebuilding traditional livelihoods and offering alternative employment opportunities. A key recommendation is the: “training in renewable energy skills to open new economic pathways,” equipping the communities with the tools to transition to sustainable and profitable industries.

    The report also calls for the establishment of healthcare facilities to provide care for pollution-related illnesses, emphasising that addressing the long-term health crisis is a priority.

    “These efforts must be complemented by regular health monitoring programmes to safeguard the well-being of affected populations,”

    Transparency in IOC operations is another critical point of the report, which advocates for the adoption of “clear communication strategies for asset divestments” and actively involving communities in decision-making processes. This, it argues, would help to build trust and accountability between the corporations and the communities they impact.

    HEDA also stressed the role of capacity-building initiatives in raising awareness about environmental rights and strengthening community-led monitoring mechanisms. These initiatives are crucial to empower communities to actively engage in environmental stewardship and advocacy.

    The report further underscores the importance of anti-corruption measures, including the use of technologies like blockchain, to ensure transparency, integrity, and accountability in oil operations, while preventing resource misuse and promoting sustainable practices.

    Collectively, these measures outline a comprehensive framework for remediation, health intervention, community empowerment, and systemic reforms. Through collaboration between stakeholder’s government, corporations, and communities Bayelsa State can chart a path toward environmental restoration, socio-economic resilience, and a more equitable future.