The governorship election in Anambra State unfolded with unusual calm. There were no gunshots, no thugs snatching ballot boxes, and no frantic voters fleeing from chaos. Instead, there was an air of quiet indifference that gave the day a strange, almost festive rhythm.
Governor Chukwuma Soludo of the All Progressive Grand Alliance (APGA) won decisively, sweeping all 21 local government areas with 422,664 votes, well ahead of the All Progressives Congress (APC) candidate, Prince Nicholas Ukachukwu, who had 99,445 votes. Yet beyond the numbers, the day was marked by scenes that captured the contradictions of Nigeria’s electoral culture—peaceful on the surface, but oddly detached in spirit.
Markets, matches, and a missing voter spirit:
Despite a statewide restriction on movement, life in many parts of Anambra went on as usual. In Awka and its outskirts, markets opened and traders displayed yams, fruits, and vegetables as though it were any other Saturday. At Nkwo Mgbakwu and Eke-Awka, buyers haggled over prices of groundnuts and potatoes while election officers waited idly at polling units nearby.
“I don’t have time for that election,” said Chibuike, a trader at Gbarimgba Market. “Politicians don’t care about us. They only help their people.”
In some communities, young men turned football fields into their polling grounds. Matches sprang up in Ifite-Awka and other towns, drawing spectators who cheered more passionately than anyone did at polling stations. One player quipped when asked why he wasn’t voting, “Vote for who? They’ll share money, and it won’t reach us.”
Yet, for a few, duty still called. At Amikwo in Awka South, 80-year-old retiree Pa Morrison Okafor insisted on casting his vote. “As a retiree, I owe it to the person paying my pension,” he said, waiting patiently in the sun.
Calm security, busy roads:
Security presence was impressive, with officers dotting polling units and even helicopters hovering over Awka. The state’s police command described the atmosphere as “peaceful and orderly.” But the supposed restriction of movement was largely ignored. Commercial vehicles moved between Awka, Onitsha, and Enugu, ferrying passengers who preferred to travel rather than vote.
Deputy Commandant General of the Civil Defence Corps, Philip Ayuba, commended the calm, noting that no major disruptions were recorded by midday.
When the ballot becomes a marketplace:
Beneath the calm, however, was a quieter but familiar kind of chaos—the trading of votes. Across many polling units, the ballot quietly turned into a marketplace. Party agents allegedly offered between N4,000 and N10,000 per voter, with cash transactions taking place in full view.
At Aroma Junction and Udeozor Primary School, Awka, some voters were seen comparing party offers before deciding where to thumbprint. A journalist, Lawrence Njoku, recalled being accosted by elderly women who mistook him for a party agent. “They demanded their money or said they wouldn’t vote,” he said.
The Economic and Financial Crimes Commission (EFCC) later confirmed the arrest of three suspects for alleged vote buying in different parts of the state, but the transactions continued throughout the day.
A peaceful, puzzling election:
Civil society groups like the Kimpact Development Initiative (KDI) reported that while the election was largely calm, areas such as Aguata, Njikoka, Awka North, Awka South, and Idemili North witnessed open inducements of voters. Still, no violence broke out, and the Independent National Electoral Commission (INEC) was praised for its improved logistics.
In the end, the 2025 Anambra governorship election stood out not for its tension, but for its contradictions—a day when citizens shopped, played football, travelled, and bargained, all while a major democratic exercise unfolded quietly around them.
It was an election without chaos, but also without much conviction. And for many observers, that calm was as unsettling as any crisis.
The Lagos State Chapter of the All Progressives Congress (APC) yesterday said that the 2023 Labour Party (LP) presidential candidate, Peter Obi, has lost popularity.
The chapter said the earth-shaking news from Anambra State that he lost his polling unit to the APC is a confirmation.
Lagos APC Publicity Secretary Seye Oladejo said in a statement that “this is not merely a defeat,” stressing that it is a public humiliation and the loudest confirmation that the so-called “Obidient movement” is nothing more than a political hologram- bright on social media, empty in real life.
He said: “Today, the people who know Peter Obi best- his neighbours, his own community, his supposed natural base- have delivered an unmistakable judgment:
“We reject you. We don’t trust you. We have seen through you.”
Oladejo said for years, Obi built his brand on self-righteous monologues, manufactured statistics, emotional manipulation, and a carefully cultivated aura of victimhood.
He said Obi weaponized ignorance and sentiment to mislead the youth, pretending to be Nigeria’s political saviour while lacking the basic capacity to win at home.”
Oladejo added: “Now the mask has fallen. A man who cannot win his polling unit has no business dreaming of winning a country.A man who is rejected on his street cannot claim nationwide acceptance. A man whose strongest base has crumbled cannot sell the lie of a national movement.”
To the spokesman, this defeat marks the complete disintegration of the myth around Obi.
He added: “To compound the embarrassment, we sincerely hope Mr. Obi will not run to beg for foreign intervention to rescue him from this political free fall, as he has unashamedly attempted in recent times.
“Nigeria’s democracy is not a toy for desperate politicians seeking sympathy abroad after being rejected at home.
“While President Bola Ahmed Tinubu is rebuilding institutions, fixing the economy, expanding infrastructure, attracting foreign investments, and restoring global confidence, Peter Obi is busy granting contradictory interviews, seeking international validation, and hiding behind hashtags that collapse at the ballot box.
“Reality has caught up with him. If Peter Obi cannot command trust in his polling unit, he should forget 2027. Nigerians will not hand over their destiny to a man whose own people have loudly withdrawn their confidence.
“The APC’s victory in his unit is symbolic, conclusive, and prophetic.
It reflects the national mood: performance is triumphing over propaganda; structure is defeating chaos; delivery is destroying deception.
“Peter Obi should spare the nation further melodrama. Let him first repair the political damage at his doorstep before pretending he can repair Nigeria.”
The greatest loser in the exercise is Peter Obi, former governor and 2023 presidential aspirant of the Labour Party (LP). The visioner of the noisy, garulous and ‘structureless Obedient Movement’ lost his polling booth, underscoring his lack of popularity and loss of relevance at home.
In the last general election, he proved his meetle, winning over 90 percent of the votes as presidential candidate in the state. However, after the poll, his party lost steam, no thanks to the protacted leadership crisis that hit the platform.
Apart from being a former governor, Obi was also a vice presidential candidate on the platform of the Peoples Democratic Party (PDP) in 2019. He was always fond of defecting from one party to the other. Although he made a feeble appearance during the campaigns, it never resonated with the people. Obi could not match the aura, intellect, pedigree, and charisma of Prof. Charles Chukwuma Soludo on the podium. The campaign train of the governor was simply electrifying.
What the outcome of the weekend election has shown is that Obi’s political structure has been rattled and dismantled, and this portends a danger to his future ambition to rule the country. He has been demystified at home.
Moghalu:
George Moghalu of the LP is a serial contestant and an impatient politician. He is never strategic. Nobody plans to fail, but many fail to plan adequately, thereby boxing themselves to failure. Despite being a brilliant person, that quality never showed in the result of the election.
It may be that the LP candidate miscalculated. Moghalu had wanted to build on the Obi’s mysterious success in 2023, oblivious of the dynamics of contemporary politics. He crashed, losing his deposit despite the bravado. Even, voters at his polling booth turned their backs at him.
Some people believe that Moghalu betrayed the All Progressives Congress (APC), which gave him an opportunity to serve the country as head of the Nigerian Inland Waterways Authority (NIWA). He left the APC for LP when the Abure and Usman factions were locked in a battle of supremacy. He had hoped to ride to power on the wing of Obi, who could not settle the rift and unite the party.
He missed being candidate, until reason prevailed. It is now evident that he does not carry any weight, his strategy of leaning on past glory of an inconsistent leader having crumbled.
The challenge is whether Moghalu would stay in the distressed Anambra LP chapter to rebuild it or defect to another party.
LP:
LP is always a party on the waiting list. It is perpectually a borrowed platform, always up for grab by aggrieved and bitter politicians from other political parties. It is characterised by doubtful membership.
Its founding authority, the Nigeria Labour Congress (NLC), do not know what they can even use the party for. That gap is usually noticed. Therefore, LP is always a place of refuge for rejected aspirants from other parties who lost out in the intra-party selection process.
The tragedy now is that the leadership is being disputed. Who is the authentic chairman of LP? Julius Abure or Esther Nenadi-Usman, who chairs the National Caretaker Committee? The caretaker committee won a case in court, but the umpire invited the leader of the other faction to crucial meetings.
That logjam persisted up to the poll day. It nearly led to the forfeiture of the governorship ticket. The factions could not agree to campaign for the candidate, who warmed the ballot as a decorative figure. The outcome was predictable. Anambra LP failed.
ADC:
ADC was a joker, and its candidate, John Nwosu, was a comedian on poll day. In Anambra, the party is at half. It is the half of the PDP, which broke away during the crisis that led to the exit of the Abubakar Atiku camp. Up to now, the coalition pales into daydreaming. ADC is not moving forward. It is not moving backward too. It is at a standstill.
Anambra poll was its first opportunity. It failed the popularity test woefully. Two reasons were responsible. First, the structure of ADC is weak. The name of the party is strange to the people. Second, it could not withstand the arsenal of the All Progressives Grand Alliance (APGA), which has maintained dominance in the state since 2003.
ADC is still in an embroyic state. It is yet to have a definite party register. Its identity is still being formed. The PDP defectors and old ADC members are yet to come to terms. The challenge of harmonisation has not been resolved.
The result is a sign of what ADC should expect in future polls, except its proposed coalition is consummated.
PDP:
The PDP is at a low ebb in the Southeast state. In 1999, it was the ruling party, with Chinwoke Mbadinuju as governor. Four years later, APGA came with a bang. It was first resisted by the PDP, which falsely installed Dr. Chris Ngige as governor in 2003. In 2009, the interloper was kicked out by the court.
Since then, APGA has maintained its hold. Not even the threat by another interloper, Andy Uba, could stop it. As APGA continued to wax stronger in the state, PDP continued to decline.
Even, it PDP and ADC had combined strengths, there was no way they could have displaced APGA.
Currently, PDP is in disarray. The crisis is affecting the state chapters. It took the strategic intervention of the former Senate President, Dr. Bukola Saraki, for the party to have a governorship candidate in Anambra. The two camps could not easily agree on who should run.
The abysmal performance was predictable. Can the chapter ever bounce back?
Other smaller parties:
There are at least other 10 smaller parties warming the register of the Independent National Electoral Commission (INEC). They are dormant parties. In the past, those mushroom parties were deregistered for failing to live to expectation. But there was uproar because some activists felt that freedom of association, assembly and political participation was being tampered with.
There is no reason to keep on the register parties that indulge in self-deception. Including them on the ballot is meaningless.
• Residents vow to resist prolonged oppression, exploitation
After a long period of enduring large scale oppression, exploitation and mindless attacks at the hands of bandits terrorising their area, the people of Kuyello Ward in Birnin Gwari Local Government Area of Kaduna State have resolved to take their destiny in their hands. The resolve is coming on the heels of a recent bloody attack that left three underage children and nine others dead, INNOCENT DURU reports.
Aisha, an 11- year-old pupil, went with her two friends for an extra-mural class in a police station in Kuyello Ward, where a wife of a police officer had taken it upon herself to give them extra lessons and ensure they excel academically.
Shortly after the lesson session began, they had an unusual movement within the station. The invaders needed no introduction. Their coarse and reverberating voices gave out who they were and what their mission was.
As a caring mother, the teacher hurriedly led the kids out of the open place they were using and hid them where she considered a safe place.
But her efforts were not enough to save herself and the budding souls from the murderous elements.
“They killed three of them, who were all in Primary Six. The first one, my sister, was 11 years old. Another one was 13 while the third one was 9 or 10,” Abubakar, Aisha’s uncle, told our correspondent.
“The deceased’s father is dead but her mother is alive. I feel heartbroken, I feel devastated. I am unhappy, actually,” Abubakar said, overwhelmed with emotion.
On why the bandits would attack a police station and kill innocent children in the most bestial manner, Abubakar said: “I think the bandits thought they were children of policemen.
“When they came, the teacher was giving them lesson outside her room, I mean in the compound. They have a corner and they were doing their lesson there.
“When the bandits came, she led the children to her room and hid them there.”
The incident, according to him, occurred three weeks ago. “It was on a Thursday around 3 pm. The bandits came and started shooting at people.
“How could we even continue staying in this village like this? We cannot progress like this.”
Villagers counted 60 motorcycles, each with three riders
A worried member of the community, who gave his name simply as Zara, said the bandits who carried out the dastardly act were many.
Zara said: “After they had carried out the attack on our community, people in the neighbouring village who saw them leaving said they counted about 60 motorcycles with three bandits on each.
“I have heard this from two to three individuals. I don’t know if it was only those 60 motorcycles that came to our community or there were more.
“Some of the victims were pupils I taught before.
“People were thrown into mourning after the incident and are still fear stricken about another attack by the bandits.
“Although there is a bit of stability in the town, people are still apprehensive.
Attacks unsettle pupils, teachers
Following the menace of the bandits, Abubakar said: “We cannot even send our children to school. Our secondary school used to close at 2 pm. We can no longer do that again.
“Now we just close at 1 pm or earlier because the teachers and the students are afraid.
“The bandits may come at any given time.”
Abubakar responded in the affirmative when asked if the bandits live within their vicinity. “Yes, we have the bandits around our environment. Very close to our area, from the east to the west.
“In the eastern part of the town, we have them. From the western part of the town we have them again.They usually carry their weapons with them.
“The bandits used to come to this place to give mechanics their motorcycles for repairs.
“They pay after their motorcycles are repaired. But they don’t usually carry guns when they are coming to fix their machines or buy things.
“But if they are just passing, they pass with their guns, putting fears in the people.”
He noted that the hoodlums always bear new weapons.
“Their own weapons are more sophisticated. They are very, very heavy.
“I can’t even tell the names because I’m not an expert in that field. But I douourif our police have such weapons.
“I have seen them before. I was scared when I saw them. In fact, I just ran for my life out of fear.
“If things continue like this, we have no option but to leave.
“We hardly sleep. We cannot access our farms because of the bandits.
“They come at any time. We have been managing to survive.”
Speaking in the same vein, Zara said: “Children go to school with one eye in class and the other eye on the lookout for possible attack.
“The attendance was very poor today as always.”
The bandits, Zara said, “come with sophisticated guns; I think AK 47 with big bullets.
“They have the type of gun they will put on the ground and start pressing.
“They carry heavy weapons, and the weapons are new.
“You would be surprised to see such and wonder how they gain access to them.”
‘Murder of bandit by miners fuelled attack on Kuyello’
A resident of the community, Muhideen, said the bloody attack on Kuyello was a transferred aggression by the bandits.
His words: “I learnt that one of the bandits went to where miners were searching for gold.
“The bandits used to disturb the miners. After staying at mining sites for weeks searching for gold, the bandits would go there and collect their gold.
“If the miners refuse to give them the gold, they attack and shoot them dead.
“On that fateful day, a bandit threatened to kill a miner for refusing to give him gold. Incidentally, the miner overpowered and killed the bandit.
“The place whereincident occurred is far from our place. But they transferred the aggression to our community.”
After the attack, which left more than 10 people dead and several others injured, Muhideen said the bandits are still not remorseful.
“They said they are coming back. Even today, people in some villages called to inform us that they saw the bandits gathering.
“They said they would attack this town four times. We can’t sleep with our two eyes closed.
“Some people need to stay outside and watch. Once they see some strangers, they tell others to run.”
Aside from killing innocent members of the community, Mohammed, a community member said, “the bandits collected money from three PoS centres and took away the PoS machines.
“At one of the PoS centres, they collected more than N10 million cash. They killed four females and seven males in all.
“On October 28, they kidnapped two persons. One was kidnapped in the town and the other one was taken outside Kuyello.”
Following the volume of attacks and oppression that people have gone through at the hands of the bandits, Mohammed said, the confidence level in Keyullo is low.
“It is just about 40 per cent. We are hearing that they will come back again. We don’t know what we have done to them.”
Recalling past efforts to appease the bandits, Mohammed said: “ The government dialogued with them in the past. After that, they started coming to Kuyello to buy goods and services.
“Sometimes they would come and buy things, carrying their AK47. Whenever they come like that we would just sell goods to them and nothing more.
“The government dialogued with them and assured us they would not touch us and that we in turn should not touch them.
“Now, the arrangement has collapsed. Right now, they can’t come and buy anything here. We will not allow them to come unless the government intervenes.
“When that happens, we may continue to sell to them again.”
Farms deserted, investments rotting away
Abubakar lamented that the bandits have made it difficult for them to access their farms, regretting that they may suffer massive losses at the time for them to harvest their produce. “We actually don’t know what we can do about our farms. We have invested everything we have on them. And now that it is nearly time for harvest, how can we even harvest?
“We cannot harvest our produce. I am a farmer. I planted maize, corn and soybeans on my farm.
“All this investment now, they are as good as gone.”
The bandits, he said, “will do anything to you if they catch you. They kill and kidnap. They have killed many people before this time.
“When we go to the farm with our cattle, they used to come and pick up the cattle, kill the workers, some run away.
The governor had a peace accord with them and for a long time, they did not attack or kill. But they used to collect our bikes, phones and cash.
“If you had some cash in your pocket, they would collect it. It happens every time.
“People are leaving the town because they can no longer cope.
“Some people used to go to the bush and gather firewood for a living. They can no longer access the bush now. They have to leave the town.”
Also decrying the effects of banditry on the economy of the community, Zara said: “Our people are farmers. I can tell you that almost 100 per cent of our people are farmers. Everybody is either into subsistence farming or commercial farming.
“Honestly, people cannot go to their farms because the bandits can lay ambush for them.
“There were a lot of kidnappings before now. Our people don’t farm for bandits again, but some villages still do.
“The bandits have not been having control over our village as a result of the bravery of the people and resolve not to accommodate banditry.
“It is those small villages that they can control to farm for them from the beginning of the rainy season.
“We are praying that there should be government intervention to resolve this problem so that people will continue to go to farm.”
Attesting to what the other members of the community said, Muhideen said: “People can’t go to farm anymore without fear.
“The bandits are roaming about, and when they see our people, they kill them. That is what they are saying to communities around us.
“We don’t know what we are going to do. We are just waiting for the government to intervene.
“We don’t have soldiers nearby. We have soldiers in Tabani Ward. From here to Tabani is about five kilometers.
“We have called our chairman to dialogue with them so that they can end the attacks.
“The chairman said he had talked to them.”
Ansaru terrorists back, recruiting new members
Aside from the menace of the bandits, Abubakar said the community is also faced with the challenge posed by the Ansaru terrorist group.
“Ansaru is still mobilising people in the community,” he said. “I heard they are back again, but I didn’t see any one of them because I’m afraid to go where they usually gather.
“I personally don’t go to that place, but I heard they are back.
“They used to come to the town or any village. They used to have some target villages.”
Continuing, he said: “When they come to the village, they will ask people to come and listen to their sermon.
“They will preach, pray, then they will mobilise people to join them, and you see children joining them.
“They do marry, and up till now, the women they married, I’ve never heard or seen any one of them coming back. They’ve gone away with them. Once they leave, they do not come back.”
Contrary to claims that the Ansaru group always protects people from bandits, Abubakar said “neither the bandits nor the Ansaru group protects the community. They are rather terrorising the community.
“The Ansaru group formerly resided in Damari Ward before they moved to Kuyello. I don’t know why they moved.
“But the Ansaru people used to say they were there to protect people from the bandits. They said they would fight bandits but only on one condition, and that is if people join them.
“They will tell people to come and buy weapons, and that people should not marry or buy motorcycle but they should go and buy weapons to fight the government and fight the bandits.
“Even the Ansaru people, we didn’t accept them. They helped the bandits. They came to Kuyello town twice to terrorise people.”
Floating vigilante group not the solution
Responding to why the community cannot organise a vigilante group to confront the bandits, Abubakar said: “Vigilante cannot no longer confront the bandits. They cannot stop them. How can they stop them with such weapons they carry?
“We have soldiers around us. We have a police station in the town. That was the police that was attacked. But the bandits still come.
Everyone needs weapons to protect ourselves
Tired of the bandits’ domination and control, members of the community have resolved to take up arms and confront their oppressors. A frontline member of the community who simply identified himself as Alo said: “The next thing to do is for everybody to have weapons to protect ourselves. This is the only thing we can do humanly speaking. When we have our weapons in our hands, and they have theirs, everybody will be afraid of death. When everybody is armed, the bandits will not come. That is what we have decided.”
Alo noted that the bandits “don’t like our town. They hate Kuyello. Whatever happens anywhere, they will say it is the people of Kuyello.
“That is why they always want to attack our town, but Allah has been helping and protecting us from them.
“When they invaded our town two Thursdays ago, they were shooting sporadically, but God helped us.
“What they wanted to achieve in our community didn’t work out for them.”
Decrying the menace of the bandits in the area, he said: “The bandits rob people of their monies, motorcycles, phones and other valuables. They also take foodstuff from people in the farms.
“If you refuse to give them, they will threaten to shoot you. They are always moving around with their weapons.
“Whenever they say give us this, you must give them. Otherwise, they will shoot you.
“This year, they have come to where they hadn’t been in the past.
“This time, they only want to attack Kuyello. We don’t know what Kuyello has done to them.
“They just hate Kuyello people. They are always armed with AK 47 rifles. They even use brand new ones.”
Also toeing the path of frontal confrontation with the bandits, Mohammed said: “Yes the right thing to do is for everyone to be armed.
“Today, they attacked my elder brother’s son on the farm. He narrowly escaped from them. They invaded his farm around 11am. The bandits also kidnapped other people today. Yesterday, they followed one man from the farm but he also escaped. Three people who were harvesting soyabeans were attacked on their farm.
“They don’t want people to harvest their crops. We have ended farming and are only set to harvest but they aren’t allowing us.”
Mohammed added: “Now, if you want to harvest your crops, you must get people who are armed to follow you to the farm as guards. They will stay with you till you finish harvesting your crops.
“If you need them from money till evening, you may pay each person at least N10,000 to guard you, and you may need between five and 10 people to guard you.
“You have to sacrifice some of the farm produce by selling them to pay the guards.
Police, State govt yet to respond
Kaduna State Police Command PPRO DSP Mansur Hassan and the state Commissioner for Information Malam Ahmed Maiyaki were yet to respond to our inquiries. ”
Global oil prices have fallen sharply, now hovering slightly above $64 per barrel. For an oil-dependent economy like Nigeria, this persistent slide in crude prices poses a serious concern rather than a reprieve. The Wall Street Journal’s sobering projection that Brent crude could dip below $50 per barrel by the end of 2025 underscores the urgency for decisive policy action. In response, the Olayemi Cardoso-led Central Bank of Nigeria (CBN) has rolled out proactive measures designed to cushion the economy against the looming oil price shock, safeguard foreign exchange inflows and strengthen the foundations for sustainable growth, reports Assistant Editor COLLINS NWEZE
The politics and volatility surrounding global oil prices continue to stir deep concern for Nigeria’s economy and revenue stability. Brent futures recently eased by 0.71 per cent to $64.47 per barrel as the U.S.–China trade truce excluded energy discussions, leaving the global supply outlook uncertain. Against this backdrop, Nigeria’s 2025 budget faces pressure, built on an assumption of oil production of two million barrels per day and a benchmark price of $75 per barrel.
With current prices trading below this benchmark, oil revenues are expected to fall short, potentially widening the fiscal deficit to between six and seven per cent of GDP. Such a gap could heighten inflationary pressures, strain public finances, and test overall macroeconomic stability. To cushion the economy against the looming oil price shock, the Central Bank of Nigeria (CBN), under the leadership of Olayemi Cardoso, has rolled out proactive measures aimed at strengthening non-oil revenue streams. These include policies to boost non-oil exports, enhance backward integration to cut reliance on imports, and streamline diaspora remittances to improve foreign exchange inflows.
Drawing inspiration from China’s economic playbook, the CBN believes Nigeria’s competitive exchange rate can spur export-led growth. To harness this advantage, the apex bank is urging businesses to focus on sectors with high export potential — notably agriculture, manufacturing and the creative industries. Firms are encouraged to embrace import-substitution models by improving local production capacity and to pursue value addition by exporting processed rather than raw goods to boost foreign exchange earnings.
Cardoso has also identified the creative sector as a potential $25 billion annual contributor to the economy, citing vast opportunities in music, film, crafts and digital exports. He called on entrepreneurs to leverage global platforms, international markets, and cross-border tours to attract dollar inflows. In a related development, the CBN governor urged telecommunications firms to reduce dependence on foreign imports by producing key components locally. The backward integration strategy, he explained, could unlock sustainable growth for the real sector and strengthen Nigeria’s industrial base at a time of growing fiscal pressure and shifting global dynamics.
Global oil politics
Global oil prices could face renewed pressure if OPEC+ moves to increase production at its November 2025 meeting. The alliance is reportedly considering reviving another tranche of output in December — a decision that may heighten market fears of a supply glut. Traders are closely monitoring India and China, key buyers of Russian crude, for signals that could reshape global demand and price dynamics.
U.S. President Donald Trump recently announced that China would expand purchases of American energy under a broader trade truce, though investors remain cautious amid limited evidence of actual deals. According to Chinese Customs data, the country last imported U.S. crude oil in May and liquefied natural gas in February. RBC Capital Markets projects that OPEC+ may raise output quotas by a modest 137,000 barrels per day in December, a move that could further test already fragile market confidence.
Creating economic buffers amid reforms
Economic reforms instituted by the CBN have removed distortions and laid foundation for economic development, Cardoso has said. Speaking yesterday at the investors’ forum held at the sidelines of the ongoing IMF/World Bank Annual Meetings in Washington DC he said that bold and comprehensive reforms have led to greater macroeconomic resiliency and positive economic outcomes.
The investors’ forum attended by JP Morgan and other stakeholders is meant to attract global investors to the domestic economy. He said the Federal Government will also issue about $2.3 billion Eurobond, which will also help refinance the $1.18 billion Eurobond maturing in November. He said the event provides a valuable opportunity to engage directly with our partners and investors who continue to show confidence in Nigeria’s future. Cardoso said the apex bank remains committed to prudent policy that would bring about durability, ensuring a lasting and positive impact in the economy.
He said about four per cent growth target is being targeted, even as government is pushing through expansion of the non-oil sector growth. The CBN boss said that inflation has continued to drop, with 18.02 per cent target in the nearest term. He said that gross foreign reserves have hit five-year high at $43.4 billion, with capacity to provide 11-month import cover for the country. He said that Nigeria currently enjoys positive balance of payment, contributing positively in easing economic stability. He said difficult economic reforms embarked on by the Federal Government is bearing positive results as seen the stability in exchange rate, stronger economic buffers, and dip in inflation numbers.
Cardoso explained that apex bank has been able to build a stronger economy, through difficult things we have done. He said that Nigeria has a competitive naira, which is game changer that should attract investors to the economy. He said that with a competitive naira, FDIs inflows prospects to the economy has risen.
Deputy Governor, Economic Policy at the CBN, Mr. Mohammed Sadi Abdullahi, said the apex bank has taken a lot on measures to prevent speculative activity and ensure best practices in the market operational framework. “Capital flows, which I mentioned, within the 2019–2020 period before, collapsed by over 75 per cent, have significantly improved and have therefore improved our external position. So, we do now have deeper and functional financial markets, much more robust and transparent. There’s been a significant increase in the average monthly turnover to $8.6 billion monthly in 2025 versus an average of $5.5 billion and much less in the year before. Today, CBN stands as a net supplier by less than about a percentage of the market turnover. We’re actually a net buyer in the market,” he said.
Building resilient economy
Nigeria’s economy has been fully restructured and is now resilient, with huge buffers against global risks, Cardoso told global investors at the annual meetings. Cardoso, who is the leader of the Nigeria delegation at the meetings, said the naira, has equally emerged as a competitive currency, with the economy witnessing positive trade balances and large businesses moving from imports to export of locally produced goods and commodities.
According to him, the positive economic indicators have combined to create resilient and strong buffers, keeping the economy in great shapes. Speaking on the impact of the trade tariffs on the domestic economy, the CBN boss, said the tariffs are less of problems for the country. “And for us again, oil is basically the only commodity that was so exposed to the tariffs, and the impact of that was relatively modest. We now have a more competitive currency with the results that, for once, we have a situation where we have a positive balance of trade surplus, and we expect it to be six per cent in GDP for some time,” he said.
Cardoso added, “So basically, what is happening is a complete restructuring of the economy, where we are encouraging people to go into domestic production, and, of course, discouraging imports. And I think we were very fortunate, because a lot of the things that were needed to have been done, we did them much earlier, and as a result of that, we’re able to create resilience and buffers against potential shocks.”
Cardoso explained that oil was the oil commodity that was exposed to the trade tariffs, but the impact was equally modest. “So, and of course, in terms of anchoring expectations, we found that those who followed the Nigerian economy were fairly comfortable. And for us, again, oil is basically the only commodity that was so exposed, and the impact of that was relatively modest,” he said.
He said the G-24 has played significant role in finding solutions to global challenges, through dialogue and exchange of ideas with global financial institutions. He said although global growth has been slow, but not as behind as would have been expected to be. In his remarks, G-24 Chairman, Pablo Quirno noted that recent adverse shocks in global economy have left growth below pre-pandemic levels, with rising policy uncertainties creating substantial medium-term headwinds. “Emerging market and developing economies have faced deteriorating terms of trade, reduced export volumes, and declining foreign currency earnings. Many of these countries have implemented domestic policies to mitigate uncertainty, but constrained policy space underscores the urgent need for collective solutions supported by multilateral institutions,” he said
Discouraging foreign services import
Speaking in Abuja during a visit by the Airtel Africa management team led by Group CEO Sunil Taldar, the CBN Governor underscored the importance of boosting local production to ease pressure on the dollar, generate employment and strengthen the national economy. He emphasised the urgent need to domestically manufacture key telecom inputs—such as SIM cards, cables, and towers—that are currently being imported in large volumes. Cardoso highlighted that over the past 16 months, the CBN has taken deliberate steps to stabilise the foreign exchange market, strengthen the naira, and attract investor confidence. With these foundations now in place, he urged telecommunications companies to embrace backward integration as a strategic imperative.
In response, Airtel Africa CEO Taldar commended the CBN’s reform efforts and voiced strong support for local production, noting that such a shift would ultimately yield long-term benefits for the telecommunications industry. He also reaffirmed Airtel’s commitment to expanding financial inclusion across Nigeria through innovative technology solutions.
Research Head, Cowry Asset Management Limited, Charles Abuede, said the CBN governor’s call was to discourage the importation of foreign services into Nigeria, especially when efforts can be made to develop such services locally. “The high demand for foreign exchange by telecom operators has further pressured the naira due to increased demand for the dollar. However, with adequate infrastructure development and a conducive operating environment facilitated by regulators, these challenges can be mitigated,” he said.
According to Abuede, “given Nigeria’s FX policies, illiquidity in the foreign exchange market and infrastructure deficits, I think increased investment in the telecom sector would enable operators to embrace backward integration. This would allow them to manufacture key components, such as SIM cards, locally. As a result, production costs could decline—provided the operating environment remains stable. This will improve profit margins and enhance both top-line and bottom-line growth in the long run.”
By the time Dr. Rabiu Olowo took the reins as Executive Secretary and Chief Executive Officer of the Financial Reporting Council of Nigeria two years ago, few foresaw the sweeping transformation that would follow. Since assuming office on October 12, 2023, the former Lagos Commissioner for Finance has steered the Council onto a new trajectory—turning it into a vibrant hub of regulatory reform, professional renewal and institutional innovation, reports Associate Editor ADEKUNLE YUSUF
The Financial Reporting Council (FRC), once regarded as a low-profile regulator operating quietly within Nigeria’s complex financial ecosystem, has in recent years risen to both national and international prominence. This transformation was epitomised by the election of its Executive Secretary/CEO, Dr. Rabiu Olowo, as Chair of the 41st session of the United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR). The prestigious appointment affirmed his outstanding leadership and expertise in corporate reporting, while placing Nigeria firmly on the global stage of financial regulation.
From October 2023 to 2025, the Council’s story has been one of vision, collaboration, and measurable reform. Under Olowo’s dynamic leadership, each of FRC’s seven directorates, departments, and units has evolved into a driver of change—collectively advancing transparency, accountability, and investor confidence across Nigeria’s economy.
Building a profession from scratch
Among FRC’s standout achievements is the bold move to develop Nigeria’s actuarial profession from the ground up. Through the Nigerian Actuarial Development Programme (NADP) and the creation of a Technical Working Group, the Council has set in motion a sustainable framework to strengthen actuarial practice. A major milestone in this effort is the issuance of Nigeria’s first comprehensive Actuarial Regulatory Framework—the Nigeria Actuarial Practice Regulation (NAPR 2025)—released as an Exposure Draft.
In adopting the International Standards of Actuarial Practice (ISAPs 1–8) and localising them as the Nigerian Standards of Actuarial Practice (NSAPs), FRC has filled a decades-long gap in the insurance, pensions, and risk-management sectors. Yet, Olowo’s vision extends beyond regulations—it focuses on building the human capital to sustain them. Through nationwide actuarial education initiatives, the Council has reached more than 5,000 university students and 800 secondary school pupils, inspiring a new generation to pursue actuarial science. The sponsorship of six university students for the Society of Actuaries professional examinations and one candidate for a Master’s degree in Actuarial Science, alongside partnerships with the National Insurance Commission, the National Pension Commission, the National Health Insurance Scheme, the Nigerian Actuarial Society, and global bodies such as the Institute and Faculty of Actuaries in the United Kingdom, the Society of Actuaries in the United States, and The Actuarial Society of Kenya, underscores a strategic blueprint: reform the system, then grow the talent to sustain it.
By initiating the integration of Actuarial Science into Nigeria’s secondary school curriculum, the FRC under Olowo’s leadership has planted the seeds of a self-sustaining ecosystem—one that will, in years to come, anchor stronger pension funds, more reliable insurance models, and a more data-driven national economy.
Reengineering corporate governance
Corporate governance has long been one of Nigeria’s Achilles’ heels—undermined by weak oversight, opaque decision-making, and boardroom complacency. The Financial Reporting Council (FRC) has boldly taken on this challenge, driving a new wave of reforms across the public, private, and not-for-profit sectors.
A major milestone in this effort is the development of the National Public Sector Governance Code (NPSGC), with a comprehensive implementation roadmap spanning 2026 to 2029. For the first time, governance standards are being designed not only for corporations but also for public institutions that manage taxpayers’ resources. Through active engagements with the National Judicial Council (NJC), the Office of the Accountant-General of the Federation, and the Nigerian Governors’ Forum, the FRC is ensuring inclusivity, broad consultation, and genuine ownership of the process at every level of government.
Simultaneously, under Dr. Olowo’s leadership, the Council is finalising the Not-for-Profit Governance Code (NNFPGC)—a pioneering initiative aimed at strengthening transparency, accountability, and ethical management within Nigeria’s NGO and charitable sectors. These two landmark codes, now awaiting Ministerial approval, reflect FRC’s determination to institutionalise integrity and restore trust across all spheres of governance.
But the Council’s work extends beyond rule-making. Its partnerships with the Association of Chartered Certified Accountants (ACCA) and the rollout of the SME Corporate Governance Guidelines (SME-CGG) and Business Integrity Certification (BIC) demonstrate an inclusive strategy—one that brings small and medium enterprises, as well as social enterprises, into the governance fold. In a political and economic landscape often constrained by weak institutions and ethical lapses, these reforms stand as practical instruments for rebuilding confidence, enhancing accountability, and embedding a culture of responsible leadership in Nigerian business and public life. The FRC’s approach represents more than compliance—it is a deliberate reengineering of the governance architecture to support sustainable growth and long-term national credibility.
Raising the bar on audit quality
No financial system can be credible without trusted audits—and the FRC is ensuring Nigeria’s audit ecosystem meets global standards. Over the past year, the Council conducted its first comprehensive practice reviews across 16 audit firms, including the Big Four, covering 143 audit engagements. A new rule now mandates auditors to report suspected client non-compliance, generating over 680 compliance submissions and reinforcing ethical discipline within the profession.
Under Olowo’s leadership, the Council has hosted the Inaugural Leadership Summit for Auditors, drawing 764 participants, and expanded international collaborations with bodies such as the PCAOB (USA), IRBA (South Africa), and ICAG (Ghana). Recent milestones—like a Memorandum of Understanding with the Financial Reporting Oversight Board (Gambia) and the UK–Nigeria Exchange and Training Improvement Programme (ETIP)—have further elevated Nigeria’s standing in global audit regulation. By fostering deeper cooperation with ICAN and ANAN and organising joint sensitisation sessions with nearly 900 practitioners, the Council is nurturing a culture of trust and accountability—striking that delicate but crucial balance between regulator and regulated in pursuit of higher audit quality.
Driving transparency in the public sector
Reforming public finance management remains one of Nigeria’s most persistent governance challenges. Over the past two years, under the leadership of Dr. Olowo, FRC has tackled this head-on with pragmatic, far-reaching measures. Through four regional training programmes on accrual-based International Public Sector Accounting Standards (IPSAS) held in Abuja, Kano, Lagos, and Uyo, the Council has trained over 576 public sector accountants—strengthening the foundation of financial integrity across ministries, departments, and agencies. This initiative promises more accurate, comparable, and transparent financial statements—vital for better budgeting, donor confidence, and responsible governance.
Sustainability reporting has become the new frontier of corporate accountability, and under Olowo’s leadership, Nigeria has taken bold regulatory strides to align with global best practices. With the endorsement of President Bola Ahmed Tinubu and the Ministry of Industry, Trade and Investment, the FRC led the adoption of IFRS S1 and S2 sustainability standards in Nigeria. Working closely with the International Sustainability Standards Board (ISSB) Chairman, the Council launched a national roadmap for sustainability reporting and has sustained leadership in its implementation. Early adopters—including Access Bank, Fidelity Bank, MTN Nigeria, and Seplat Energy—have championed two consecutive reporting cycles (2023 and 2024), positioning Nigeria among global pioneers in sustainability disclosure compliance.
In less than a year, adoption of the IFRS S1 and S2 standards has grown from 4 to 35 entities. Over 202 organisations and 1,705 professionals have benefited from intensive, hands-on training through 32 sector-specific engagements and regulatory roundtables—signalling a strong appetite for transparency on environmental, social, and governance (ESG) performance. Strategic partnerships with NIRC, GIZ, FSDA, PAFA, and the ISSB, as well as collaborations with SEC, CBN, NGX, and NCCC, reflect a unified national commitment to embedding sustainability into Nigeria’s corporate culture. The hosting of the 2nd Regulatory Roundtable on Sustainability Reporting further cements Nigeria’s emerging reputation as a continental thought leader in responsible reporting.
In January 2024, the FRC operationalised the Directorate of Valuation Standards—an overdue reform aimed at introducing order, consistency, and credibility to Nigeria’s valuation landscape. Within its first year, the Council inaugurated a Technical Working Group (TWG) to develop Valuation Regulations, released the Draft Regulation for public exposure, and trained over 200 professionals across four zones. Membership in the International Valuation Standards Council (IVSC) now enables global benchmarking, while the publication of a national Valuation Guide provides practitioners with clear reference points. The engagement of more than 923 stakeholders reflects broad industry support for this reform. In a country long troubled by asset valuation controversies in public projects, mergers, and banking collateral, the FRC’s standardisation drive is both timely and transformative.
Recognising the indispensable role of small and medium-sized enterprises (SMEs) in national development, the FRC has also advanced financial inclusion. In partnership with the United Nations Conference on Trade and Development (UNCTAD), the Council organised a Train-the-Trainers Workshop on Accounting and Financial Reporting for MSMEs in December 2024. By producing a pool of certified national trainers and simplified reporting tools, the initiative has demystified accounting for small enterprises—empowering them to access finance, formalise operations, and contribute more meaningfully to economic growth. This aligns seamlessly with the Federal Government’s vision to lift millions of MSMEs into the formal economy and build a more transparent, inclusive financial ecosystem.
Digital transformation and institutional visibility
A modern regulator cannot thrive without technology—and the FRC has embraced this truth with remarkable results. The Council now operates Nigeria’s first National Repository Portal for the electronic filing of financial statements, heralding a new era of transparency, efficiency, and accessibility. Complementing this innovation are a Document Management System (DMS) and a Learning Management System (LMS), which have automated internal processes and enhanced capacity building. The integration of the Council’s database with the National Identification Number (NIN) verification system has further strengthened data integrity and credibility.
Under the leadership of Dr. Olowo, the FRC has also undergone a profound image transformation. Through the publication of the FRC Newsletter (ISSN 3092-9520), consistent media engagements, and improved stakeholder relations, the Council’s voice has become clearer and more authoritative in shaping national discourse on financial accountability. The launch of Nigeria’s first Journal of Financial Reporting and Corporate Governance has further established the FRC as a thought leader, providing a platform for research-driven policy dialogue, professional education, and regulatory innovation.
Recognising that effective regulation begins with inclusion, the Registration Unit has expanded the Council’s oversight base significantly—registering 31,799 professionals, 715 firms, and 14,657 companies in just two years. Active engagement with professional bodies such as ICAN, ANAN, NIESV, ICSAN, and the Nigerian Bar Association (NBA) has strengthened collaboration and unified standards across sectors. These efforts are not merely administrative; they have created a traceable and accountable professional community, ensuring that Nigeria’s financial ecosystem is manned by qualified and verifiable actors.
Beyond these digital and outreach reforms, Dr. Olowo has professionalised the FRC itself. The Council now operates the full complement of seven Directorates, following the activation of the Directorates of Valuation Standards and Actuarial Standards, alongside the establishment of the Sustainability Reporting Unit. Notably, the creation of an Islamic Financial Services Division now provides regulatory guidance for non-interest financial reporting—reflecting a deep sensitivity to Nigeria’s diverse financial system. His leadership proves that reform is not only about changing rules but about rebuilding trust—between regulators and practitioners, and between citizens and their institutions. Two years on, the FRC has not just redefined financial reporting—it has redefined effective public service leadership in Nigeria.
The Red Line began as a promise — a signal that Lagos was finally turning the page on its exhausting, daily commute. When the train launched on October 15, 2024, excitement surged from Agbado to the city’s heart. It wasn’t just new transport; it felt like a new Lagos. But one year later, the shine has dulled. What began with hope now tells a quieter, sobering story of strain, improvisation and fading order, reports NTAKOBONG OTONGARAN
The Red Line began as a promise. When it was flagged off on October 15, 2024, linking Lagos to its border communities in Ogun State, the excitement was unmistakable. Crowds gathered at Agbado, waving, cheering, filming the moment the sleek coaches slid out for their maiden run. It was more than the launch of a train; it felt like the city’s daily rhythm was about to change — that the long, punishing commutes between the outskirts and the metropolis would finally soften.
For a moment, Lagos seemed to be moving with purpose. A year earlier, the Blue Line had opened with quiet elegance, shuttling passengers between Marina and Mile 2 in cool, steady comfort. If the Blue Line was the polished face of modern Lagos, the Red Line was its working-class heartbeat — energetic, noisy, and alive.
I rode the train two days after its launch, on October 17. It felt like the beginning of something meaningful. The trip from Agbado to Oyingbo carried a shared sense of pride. Passengers chatted about how “Eko don finally reach London level.” The hum of the engine, the smooth acceleration, the cool air conditioning, and the passing neighbourhoods framed through wide windows offered a rare Lagos moment — a taste of what functioning public infrastructure feels like.
A little more than a year later, I returned to Agbado to see what had changed. That was Thursday, October 25. The morning sun was already pressing down on the low rooftops around the station. The terminal still rose ahead like a fortress of steel and glass. Vendors clustered at the entrance, selling snacks, cold drinks, and cash withdrawals via POS machines. It was busy — but not chaotic. That alone felt like an achievement.
The first good news was that the trains were still running on schedule. In fact, more trips had been added, bringing daily services to nine in each direction. A staff member explained this with a tone that was part pride, part fatigue — the kind of pride that comes from routine, not excitement. But signs of strain were visible. Ticket top-ups had been moved outside the station. Passengers now stood in the open sun to buy or refill their travel cards, queuing behind yellow tape while those traveling to Ibadan were checked in inside. The Nigerian Railway Corporation’s intercity service shares part of the Agbado terminal, and it had become clear that the two systems were still struggling to coexist.
I joined the queue, the heat sharpening slowly on my neck. The woman in front of me spoke in a low, resigned voice — the kind that comes from repeating a complaint too many times. “Dem say na because NRC train dey use inside. Dem no want mix people,” she said. The promise was still there — but the shine had noticeably worn. For a system that prides itself on modern rail reform, the arrangement was a disappointing lapse in service delivery — poor crowd management, inadequate shelter, and a general disregard for passenger comfort. It was an avoidable display of inefficiency in a facility designed to embody order, not confusion. With proper coordination, the vast Agbado station could easily accommodate all passengers.
As we waited to be called into the terminal, the man beside me leaned in and asked whether I had collected a seating card — a way of determining who would sit and who would stand. I hadn’t understood him at first, so I showed him the card I had been given, the number “062” written boldly across it. He nodded, satisfied. “Good. This one mean you go sit. From 101, na standing,” he said with a knowing grin. “Na that one we dey target first, because if seat finish, you go stand all through.” He chuckled and adjusted his bag. The casual tone made the situation seem ordinary, as though the chaos had become part of the system. But it was another reminder of how disorganized the process had become. In a properly managed rail service, seating allocation should be integrated into ticketing — not left to handwritten numbers on small cards and passengers scrambling for “sitting” privileges.
When we were finally ushered inside, passengers moved quietly, tapping their cards at the counter and filing through the gates onto the platform. When the train arrived, a soft murmur rippled through the crowd. We boarded with calm precision — but within minutes, the carriages were packed beyond comfort. Every inch of space was taken; the aisle disappeared beneath a tight press of legs and backpacks. Someone muttered with a laugh, “Na molue dem don turn this one to o.”
Days earlier, I had seen a viral video of passengers pouring out of the Red Line like commuters disembarking from a molue — the chaotic Lagos bus of old. I had thought the video exaggerated. Now, it felt like understatement. Before the train pulled out, I walked through two adjoining coaches. It was a narrow squeeze. A young man had wedged himself between two metal luggage frames, his knees bent awkwardly as he tried to balance. The sight was both comic and painfully familiar. He caught my eye and smiled — perhaps at my surprise.
The train’s movement was smooth, but the air-conditioning struggled. The cabin felt heavy with heat and the shared scent of bodies. My seatmate, a mason named Abdulwasiu Ganiyu, held a worn bag filled with his tools, which clanked softly each time he shifted. “Na so e dey be,” he said. “Sometimes, if I reach late, I go stand all the way to Mushin.”
Across from us sat Lanre, broad-shouldered and easy-tempered, chatting with two friends. As I leaned toward the window to take photographs, he laughed. “Bros, e be like say na your first time for this train,” he said. “I took it last year,” I replied. He laughed again, glancing at the sweat I wiped from my forehead. “No worry,” he said, tapping the sealed window. “Very soon dem go cut this glass make e slide like BRT. Heat no go catch person again.” The others chuckled. I smiled too — though there was something poignant in his optimism, a quiet resignation masking itself as hope. A Lagos commuter’s survival instinct: adjust, endure, believe change will come — even when the system keeps proving otherwise.
As we glided past Iju, Agege, and Mushin, I was struck by how quickly the Red Line had begun to mirror the very city it was meant to transform. Like the BRT buses that launched with air-conditioned promise and soon slid into broken vents and peeling interiors, the Red Line seemed to have aged too quickly. At each stop, more passengers squeezed in as others got off. A woman carrying a baby murmured that she had left home at 6:00 a.m., yet still had to fight for space because the earlier 7:10 a.m. train had been filled beyond capacity.
A teenage boy clung to a metal pole, earbuds in, head bowed in exhaustion. The mood was familiar: weary acceptance, occasional banter, and that resilient patience Lagos breeds. When we finally pulled into Oyingbo, I exhaled. The journey had taken less than an hour, but it felt longer. The platform buzzed with movement. Some hurried off to catch connecting buses, while others paused to take photos—just as I had done a year earlier, when the Red Line felt like a miracle.
I asked a staff member whether additional schedules would be introduced to ease the strain. He offered a vague smile. “When that happens, you will see it,” he said before walking away. Outside Oyingbo station, I crossed to the BRT park, hoping to continue to Marina. There was no bus. The cashier, who spoke fluent English but switched to Pidgin for emphasis, said, “The one wey dey go CMS don move. I no sabi when another one go come. You fit take danfo.”
I took his advice. The danfo was cramped, jerky, and cost nearly as much as the train fare. I alighted a few metres from Lagos House, Marina, and crossed the busy expressway to the train station. At the Marina terminal, I asked one of the Last Mile drivers whether there was a direct bus to Oyingbo. He smiled and shook his head. “No direct one, oga. You go first reach CMS, then find your way from there.”
His casual reply captured the flaw in Lagos’ celebrated multimodal transport dream. How could two flagship terminals—the Blue Line at Marina and the Red Line at Oyingbo—exist without a simple, direct link? A state that prides itself on integrated mobility had left a gap at the very heart of its network. A system designed to connect rail, road, and water instead revealed a glaring mismatch.
Inside, however, the Marina station was pristine. The air was cool, staff were attentive, and the queue moved with quiet efficiency. I paid for my ticket to Mile 2 using the tap-in card system and boarded without fuss. The train was waiting—its interior spotless. A low mechanical hum, a faint scent of disinfectant, and passengers seated in calm order. It felt like stepping into a different world entirely.
The train departed within minutes. Through the windows, the Atlantic corridor rolled into view, alongside the busy corporate stretch of Marina and Broad Street. The air-conditioning hummed softly. Unlike the Red Line, this carriage felt spacious; there was room to breathe. For a moment, I could feel the rhythm of a system operating as it was designed to. The Blue Line’s schedule was impressive — trains every 20 minutes in both directions, according to a staff member on board. No crowds pressing at the gates, no card vendors shouting outside. It was everything the Red Line had once promised to be.
As we arrived at Mile 2, a crowd had already gathered on the platform, waiting to board. Once the doors opened, passengers surged forward — that familiar Lagos urgency, a choreography of survival. It brought to mind the city’s danfo buses: the scramble for seats, the quick calculations, the subtle jostling for advantage. Only now, the scene unfolded inside a gleaming, modern station.
Yet amid this rush, something stood out. There was no visible system ensuring that passengers had tapped in before boarding. No staff at the entrance to the coaches, no digital verification. The assumption seemed to be that everyone on the platform had already paid. In reality, I could have stepped off, turned around, and re-entered the train back to Marina without paying anything.
It was a small detail, but a telling one — a crack in the foundation of a network striving to build trust. Fare integrity is not just about revenue; it is about sustainability. When enforcement is lax, systems decay — slowly at first, then all at once.
The Red and Blue Lines were designed to symbolize the Lagos of tomorrow: connected, efficient, and inclusive. On paper, they do. In practice, they reveal familiar tensions. The Red Line, meant to serve working-class commuters across Lagos and Ogun border communities, is already showing signs of the chaos it was built to correct. The Blue Line, running through the city’s commercial core, remains the polished sibling — cooler, cleaner, calmer. The contrast is unspoken, but unmistakable.
A year into its operation, the Red Line tells a story that Lagos knows too well: a bold beginning weighed down by management fatigue and creeping neglect. The signs are quiet but visible. Card top-up points have been pushed outside the station, forcing commuters to queue under the harsh sun. Ticketing and passenger control feel improvised rather than planned. Inside, cooling systems strain against packed coaches, reducing what should be a comfortable ride into a test of endurance. And despite rising passenger demand, there is little evidence of a structured plan to increase frequency or expand capacity. The system is running, yes — but it is running tired.
This is not to dismiss the achievement. A decade ago, the idea of two electric urban rail lines moving Lagosians daily would have sounded like hopeful fiction. Now, the Red Line and the Blue Line are physical reality — steel laid over years of political insistence, financial negotiation, and infrastructural complexity. Lagos has shown ambition, and ambition deserves recognition. But ambition without maintenance is a slow failure. What begins as pride can quietly slip into dysfunction if ignored. Infrastructure ages; systems require adaptation; transit culture must be taught and sustained. Lagos cannot afford to repeat the story of the BRT — launched with air-conditioned promise, now a patchwork of broken seats, shattered vents, and resigned passengers.
If Lagos is serious about building a truly multimodal transport network, it must focus not only on constructing lines but on connecting experiences. Integration should feel seamless: a commuter stepping off the Red Line at Oyingbo should be able to connect directly — physically and digitally — to a bus heading toward Marina, without confusion, long waits, or unnecessary discomfort. Signage, schedules, payment systems, and staff coordination are as crucial as tracks and stations. Mobility is more than movement; it is ease, predictability, and dignity.
As I left Mile 2 that afternoon, the Blue Line glided in, quiet and composed, like an assurance of what Lagos can achieve when systems are cared for. Yet my memory of the Red Line — the heat, the crowds, the weary acceptance etched into faces — reminded me of what Lagos too often settles for. The distance between what Lagos has built and what Lagos needs is not measured in kilometres. It is measured in management — and the will to sustain what has already begun.
At the just-concluded World Bank and International Monetary Fund Annual Meetings in Washington, D.C., Nigeria’s civil society made its presence felt. Among the most compelling voices was that of Auwal Musa Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, who challenged global leaders to address Africa’s deepening debt crisis and reform global financial governance. He spoke with Associate Editor ADEKUNLE YUSUF.
Takeaways from IMF, World Bank Annual Meetings in Washington, D.C
One of the most striking takeaways from this year’s International Monetary Fund (IMF) and World Bank Annual Meetings in Washington, D.C., particularly during the civil society sessions, was the deepening conversation around debt and debt sustainability. For many African countries—Nigeria included—the burden of debt has become an alarming drag on development, public welfare, and national stability.
Debt remains a critical concern because much of what African governments borrow is not channeled into productive sectors that drive growth or long-term investment. Instead, these loans often fund recurrent spending or consumption, with little transparency or accountability regarding their use. This pattern has left countries like Nigeria in a worrisome fiscal position, where debt servicing consumes an overwhelming portion of national revenue. Many of us within the civil society community believe this situation is unsustainable, unjust, and contrary to the spirit of genuine development financing. It is why we continue to advocate for greater debt transparency, responsible borrowing, and, in some cases, outright debt cancellation—especially for loans that have not directly benefited citizens.
Nigeria, in particular, is abundantly blessed with natural and human resources. What the country needs is not more loans, but stronger mechanisms to harness these resources effectively, block leakages, and curb wasteful spending. Reckless borrowing has only deepened dependence on multilateral institutions like the IMF and the World Bank, while domestic inefficiencies continue to stifle growth. During the meetings, we reiterated our call for these global financial institutions to reconsider the ease with which they approve new loans to African governments, especially when accountability mechanisms are weak or absent.
Another strong point raised was the need for civil society inclusion in the debt monitoring process. Across the continent, many national legislatures remain poorly informed about the specific terms and conditions of external loans negotiated by the executive arms of government. This opacity means parliaments are often unable to perform effective oversight or ensure that borrowed funds are used for genuine development projects. Civil society participation can bridge this gap by demanding transparency and ensuring that borrowing decisions reflect national priorities and public interest.
Beyond debt, discussions also touched on broader economic pressures—particularly inflation, the rising cost of living, and the erosion of citizens’ purchasing power. In many African countries, people are struggling to afford basic needs such as food, healthcare, education, and transportation. The situation has been made worse by the withdrawal of subsidies across key sectors, often imposed as part of the conditions for accessing international loans. Ironically, while developing nations are being urged to remove subsidies, many developed countries continue to maintain them to support their citizens in areas like agriculture, transport, and education. Africa, therefore, must return to the basics: build strong, transparent institutions, invest in its people, and harness its abundant resources to finance development internally. Only then can the continent free itself from the cycle of debt dependency and reclaim control over its economic destiny.
Nigerian Economy and the injustice of the debt trap for developing economies
One of the most persistent challenges confronting Nigeria is the fragile state of its economy, which remains largely monolithic. While many nations have diversified their production bases and embraced technology to drive inclusive growth, Nigeria continues to rely heavily on crude oil and gas as its primary source of revenue. This overdependence has left the country vulnerable to global price shocks and domestic inefficiencies. Even within the oil and gas sector, widespread theft, illegal mining, and poor accountability have stifled its full potential. The nation’s inability to provide clear leadership in economic diversification remains one of its greatest failings since independence.
Closely linked to this is the country’s weak infrastructure base, which has discouraged meaningful investment. Investors—both local and foreign—require a stable and efficient environment to thrive, yet Nigeria continues to struggle with unreliable electricity supply, poor road networks, decaying transport systems, and fragile digital infrastructure. The energy sector, in particular, remains underperforming, with generation and distribution capacities far below national demand. These persistent bottlenecks, coupled with worsening insecurity, have made Nigeria an unattractive destination for long-term investment. Businesses operate under enormous pressure, while millions of young people are locked out of productive opportunities.
Against this backdrop, the growing debt burden paints an even grimmer picture. The current debt trap facing developing nations like Nigeria represents not just an economic challenge but a structural injustice that perpetuates poverty and dependency. This debt spiral is partly a result of internal governance failures and partly the consequence of an unequal global financial order that favours lenders at the expense of borrowers.
For Africa, and Nigeria in particular, the tragedy is compounded by massive illicit financial outflows. Every year, billions of dollars leave the continent through corruption, tax evasion, and money laundering—funds that could have been invested in education, health, infrastructure, and social welfare. If these leakages were blocked, there would be little need for Africa to continue borrowing to survive. But corruption and weak institutional capacity ensure that borrowed funds are mismanaged, often diverted to recurrent expenditure and political patronage rather than productive investments that generate jobs and growth.
In Nigeria, the pattern of borrowing has been especially troubling. Most of the loans obtained are not directed toward capital projects or infrastructure but used to finance consumption and administrative costs. There is little transparency or public accountability in how these debts are incurred or spent. Civil society organisations have repeatedly called for inclusion in debt monitoring processes, given that even lawmakers in many African parliaments are not fully aware of the terms and conditions of these loans. The secrecy surrounding debt agreements has enabled mismanagement and mortgaged future generations to a life of perpetual repayment.
Even more disturbing is Nigeria’s growing tendency to borrow from commercial banks at high interest rates, further deepening fiscal vulnerability. As the Group of 24 (G-24) rightly observed during global financial meetings, developing countries are the most exposed to corruption and capital flight, largely because they have failed to establish robust systems to curb money laundering, illicit financial flows, and outright looting. As a result, money meant for roads, hospitals, schools, and small businesses is either stolen or wasted on unproductive ventures. The consequence is a vicious cycle: underdevelopment leads to more borrowing, and more borrowing fuels underdevelopment.
The injustice of this debt trap extends beyond domestic mismanagement—it is rooted in the very structure of the international financial system. Institutions like the International Monetary Fund (IMF) and the World Bank were originally created to promote global economic stability and assist developing nations in achieving growth. However, over time, they have become instruments of conditionality, often imposing policies that deepen inequality. African countries are routinely compelled to remove subsidies on fuel, food, healthcare, and education as a condition for accessing loans. Ironically, developed countries that champion these austerity measures still maintain generous subsidies to protect their own citizens in similar sectors.
This imbalance highlights the urgent need for reform within the global financial architecture. The current arrangement leaves African countries with little or no voice in decision-making processes. The governance structure of international financial institutions still reflects the post-World War II order, dominated by a handful of wealthy nations. African representatives are often invited only to endorse pre-determined decisions or receive tokenistic support—what one observer described as “peanuts.” Such marginalisation reinforces the dependency mindset that has long kept Africa at the periphery of global finance.
To break free from this cycle, Nigeria and other developing nations must push for a fairer, more inclusive international financial system—one that prioritises genuine development over profit. Equally, there must be a total overhaul of domestic financial management systems to eliminate leakages, strengthen anti-corruption mechanisms, and ensure that borrowed funds are transparently utilised. Civil society and the media must play stronger watchdog roles, while national legislatures should assert greater oversight on all loan agreements.
Nigeria’s abundant natural and human resources should be the foundation of its economic independence, not its vulnerability. The country must learn to generate wealth internally by investing in technology, value addition, and human capital development. Only then can it escape the injustice of the debt trap—a trap that continues to erode sovereignty, stifle development, and perpetuate the poverty of millions across the African continent.
Education, innovation and the future Africa must build
African nations, and Nigeria in particular, must urgently invest in education, science, and technology if they are to keep pace with a rapidly changing world. The global economy is now driven by knowledge and innovation, and without the right skills and capacity, Africa risks being left behind in the digital and artificial intelligence revolution.
Education remains the foundation of progress. Every major advancement in science and technology is powered by human knowledge. If citizens are denied access to quality education, they cannot meaningfully participate in or benefit from global technological shifts. That is why affordable, accessible, and quality education must be treated as a national priority, not a luxury.
Unfortunately, Nigeria’s education system has suffered decades of neglect. Public schools and universities are underfunded, overcrowded, and poorly equipped. Laboratories barely function, libraries are outdated, and research is virtually non-existent because there are no grants or institutional incentives for innovation. As a result, universities that once produced top-tier thinkers now struggle to conduct meaningful research. This has left Nigeria as a passive consumer of foreign technology rather than a creator of its own.
In the developed world, universities serve as engines of innovation. Governments invest heavily in research because they understand that every invention and technological leap begins in the classroom and the laboratory. In Nigeria, however, education has been reduced to a privilege for the few who can afford it. The political elite, rather than fixing the system, send their children abroad while local institutions decay. This attitude not only undermines public education but also deepens inequality and weakens accountability.
If Nigeria is serious about development, it must rebuild its education system from the ground up. Policymakers must recognise that without investment in human capital, there can be no sustainable growth. Reviving education requires adequate funding, modern infrastructure, improved teacher welfare, and curricula that reflect today’s realities in science, technology, and innovation. Partnerships between universities, industries, and government are also crucial to ensure that research is directed toward solving real problems—whether in agriculture, healthcare, or renewable energy. This linkage can transform research findings into products, jobs, and industries that drive inclusive growth.
The Civil Society Legislative Advocacy Centre (CISLAC) and other development advocates have long emphasised the need for financing for development—ensuring that national resources are channelled into productive investments like education, health, and research. But corruption, waste, and illicit financial flows continue to drain Africa’s wealth. Every stolen dollar is a classroom unfunded, a laboratory unequipped, a teacher unpaid.
The future belongs to societies that invest in people. Africa cannot borrow its way to progress; it must educate its way to greatness. Reviving education and research is the surest path to economic transformation. When Nigeria finally treats education as a national emergency and equips its citizens with the knowledge and skills to innovate, it will no longer have to depend on others for its survival. Education is not just a tool for development—it is the engine of freedom and the bridge to a better future.
The Financial Action Task Force (FATF) last week removed Nigeria from its grey list of countries subject to increased monitoring for money laundering and terrorist financing risks. According to the Central Bank of Nigeria (CBN), the country’s delisting will deliver tangible benefits for businesses and households alike, including lower compliance costs, improved access to international finance, and faster, more affordable cross-border transactions, reports Assistant Editor COLLINS NWEZE
Nigeria’s exit from the Financial Action Task Force (FATF) grey list marks a major milestone with significant economic benefits. For stakeholders, particularly businesses and bank customers, this development is expected to boost investment inflows, ease the process of opening foreign bank accounts, and enhance the naira’s competitiveness in global markets.
Nigeria, which had been on the FATF grey list since February 2023, successfully exited following far-reaching financial sector reforms led by Central Bank Governor Olayemi Cardoso and other key stakeholders. Their coordinated efforts strengthened compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) standards, bringing Nigeria’s financial system in line with global best practices.
For over two years, the country faced the heavy consequences of grey listing, which restricted access to global financial markets and eroded investor confidence. Countries on the FATF watch list typically experience heightened scrutiny of cross-border transactions, as dealings with them are deemed high-risk. This situation placed a significant burden on Nigerian businesses, citizens, and financial institutions.
The FATF—a 40-member intergovernmental body backed by the World Bank and International Monetary Fund (IMF)—sets international standards to combat money laundering, terrorist financing, and other illicit financial activities. The Paris-based watchdog’s decision to delist Nigeria represents substantial progress, restoring global confidence, lowering the cost of capital, and strengthening the overall credibility and resilience of Nigeria’s financial system.
Other countries removed from the list include, South Africa, Mozambique and Burkina Faso. “As of February 2025, the FATF has reviewed 139 countries and jurisdictions and publicly identified 114 of them. Of these, 86 have since made the necessary reforms to address their AML/CFT weaknesses and have been removed from the process,” the report said.
FATF identifies countries or jurisdictions with serious strategic deficiencies to counter money laundering, terrorist financing, and financing of proliferation. “For all countries identified as high-risk, the FATF calls on all members and urges all jurisdictions to apply enhanced due diligence, and in the most serious cases, countries are called upon to apply counter-measures to protect the international financial system from the ongoing money laundering, terrorist financing, and proliferation financing risks emanating from the country,” it said.
By closing gaps in regulatory oversight and enhancing enforcement against illicit financial flows, the four nations have now met the FATF’s requirements for delisting, boosting their standing among global financial institutions and capital markets. Nigeria and South Africa were added to the list in February 2023 while Mozambique was included in October 2022 and Burkina Faso initially in February 2021.
CBN welcomes FATF decision
The CBN said it welcomes the FATF formal announcement of Nigeria’s removal from the list of jurisdictions under increased monitoring, known as the “grey list.” It said the decision followed a successful on-site evaluation of reforms implemented across the financial system. “The FATF decision recognises significant improvements in Nigeria’s regulatory, supervisory, and enforcement frameworks, particularly in combating money laundering, terrorist financing, and proliferation financing, it marks an important milestone in the country’s continuing efforts to strengthen financial system integrity, transparency, and international confidence,” the apex bank said.
The FATF’s decision follows a two-year reform programme coordinated by the Federal Government of Nigeria, involving multiple agencies including the CBN, the Federal Ministry of Justice, the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC). The CBN’s contribution centred on enhancing supervision, governance and transparency across the financial system. Key reforms assessed by the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA, FATF’s regional assessment body, included strengthened oversight of financial institutions through updated AML/CFT regulations, risk-based supervision, and fit-and-proper assessments.
There was also expansion of compliance reporting and monitoring across remittance channels, bureaux de change, and fintech platforms to improve traceability and transparency. “Enhanced inter-agency data-sharing and enforcement coordination between the CBN, NFIU, EFCC, and law-enforcement bodies. Implementation of market governance tools, including the Foreign Exchange Code (FX Code) and Electronic Foreign Exchange Matching System (EFEMSI),” the apex bank said. Together, these measures have materially strengthened Nigeria’s compliance with global standards and reinforced confidence in the integrity of its financial system.
It said Nigeria’s removal from the grey list will yield tangible benefits for businesses and households alike including lowering compliance costs, improving access to international finance, and making cross-border transactions faster and more affordable. In time, these gains will translate into smoother trade settlements, quicker remittance inflows, and even more predictable access to foreign exchange enhancing livelihoods, supporting enterprise growth, and deepening financial inclusion.
The FATF decision reinforces the broader restoration of global confidence in Nigeria’s economic management. Recent international assessments underscore this momentum, with Moody’s and Fitch upgrading Nigeria’s ratings outlook on the back of stronger external balances, credible policy execution, and renewed monetary-policy credibility. Similarly, the IMF’s 2025 Article IV Consultation highlighted improved reserve adequacy, greater transparency, and a reform agenda increasingly aligned with global standards.
Commenting on the announcement, Cardoso said: “The FATF’s decision to remove Nigeria from the grey list is a strong affirmation of our reform trajectory and the growing integrity of our financial system. It reflects a clear policy direction and the coordinated efforts of key national institutions working together to deliver sustainable, standards-based reforms. Our priority now is to consolidate these gains, ensuring that compliance, innovation, and trust continue to advance hand in hand to reinforce financial stability and strengthen Nigeria’s global credibility.”
CBN’s milestone contributions
On assumption of office, the leadership of the CBN led by Cardoso swung into action, dismantling the roadblocks and opaqueness in the financial system that put Nigerian on the list. From reforms in the bureau de change operations, which falls within the other financial sector segment of the economy, to the increase in surveillance and supervision of the deposit money banks, the CBN under Cardoso left no stone unturned to ensure that Nigeria exits the grey list. Under Cardoso, the CBN ensured that the banks met the FATF 40 recommendations, including ensuring that the lenders identify their customers and verify customer’s identity using reliable, independent source documents, data or information.
Part of the compliance records include Nigeria’s lenders being able to identify the beneficial owner, and taking reasonable measures to verify the identity of the beneficial owner, such that they become satisfied that beneficial owner in every transaction is known. As required by the law, the Nigeria’s financial institutions are also able to understand the ownership and control structure of their customers, obtain information on the purpose and intended nature of the business relationship and conduct due diligence on the business relationship. They equally ensured that scrutiny of transactions are undertaken throughout the course of every banking relationship.
President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka, described Nigeria’s exit from the FATF grey list as good news and development, for the country. He praised the CBN’s efforts at ensuring that Nigeria is no longer burdened by the grey list challenges, following its exit. He said: “It opens new approach and opportunities in Nigeria banks and customers dealings with international financial institutions. It shows that Nigeria’s financial system is safe for payments and other transactions. It is worth celebrating by all Nigerians,” he said. Ogubunka advised that government should do more to ensure that Nigeria does not relapse, or return into the list by continuing to do things right and continuously complying with all the 40 recommendation set by the FATF.
Views from other stakeholders
Head Lagos Office at Inter – Governmental Action Against Money Laundering In West Africa (GIABA), Timothy Melaye, said the government of Nigeria has shown unwavering commitment to the implementation of AML/CFT measures in the country. Melaye spoke during the sensitisation seminar for organised private sector on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) organised by GIABA in Lagos.
Melaye, who represented GIABA Director-General, Edwin Harris, disclosed that money laundering and terrorism financing pose considerable threats to global peace and security as well as destabilizing political and financial stability of any nation state. “Besides external resources, enormous funds are generated by terrorist networks through legal as well as illegal means, concealed and laundered using existing legal financial framework or unlawful underground networks. The terrorist networks cannot be destroyed, or even made ineffective, unless concerted efforts are made at both national and international levels to efficaciously block their financial sources. The promotion of well-regulated financial systems and services is central to any effective and comprehensive AML/CFT regime,” he said.
According to him, Money Laundering (ML) and the Financing of Terrorism (FT) is increasing in sophistication, inherently transnational, and increasingly linked to organised crime, posing a growing threat to consumers, business, and government alike.
Also speaking during the event, President / Chairman, Compliance Institute Nigeria, Pattison Boleigha, described the grey list as terminology that is coined by the FATF, which is generally made up of countries from highly developed economies to check the spate of crime and the abuse of the financial system. According to him, the signatories to the FITF are expected to guide countries on how to put legislation in place in their various countries to fight money laundering, terrorism financing and lately, proliferations of weapons of mass destruction. He said not meeting the FATF recommendations has some dire consequences on the business environment, including having Nigeria’s name published across the whole world as country that is not doing enough to fight financial crime, difficulties in business consummation and lack of trust from foreign investors. “In addition to that, our financial system suffers a lot because correspondent banks will not want to do business or open correspondent banking relationships with our banks and other financial institutions,” he added.
Understanding FATF Rules
“In total, more than 200 countries and jurisdictions have committed to implement the FATF’s Standards as part of a co-ordinated global response to preventing organised crime, corruption and terrorism. Countries and jurisdictions are assessed with the help of nine FATF Associate Member organisations and other global partners, the IMF and World Bank,” it said.
In a report on its website, the Financial Action Task Force (FATF) said it identifies jurisdictions with weak anti-money laundering and counter-terrorist financing (AML/CFT) measures in two public documents released three times a year. FATF’s process for publicly listing countries with weak AML/CFT regimes has proven effective. The organisation researches methods of money laundering and terrorist financing, promotes global standards to mitigate related risks, and evaluates whether countries are taking effective measures to address them.
“The FATF’s decision-making body, the FATF Plenary, meets three times per year and holds countries to account if they do not comply with the Standards. If a country repeatedly fails to implement FATF Standards then it can be named a Jurisdiction under Increased Monitoring or a High Risk Jurisdiction. These are often externally referred to as “the grey and black lists,” it said.
• Our unemployed youths are engaged again, says community leader
The journey was relatively smooth as the commercial bus we boarded in Port Harcourt, Rivers State capital navigated the popular Aba Road and later maneuvered the various link roads criss-crossing communities in Akwa Ibom State until we approached the Calabar-Itu Road; a major artery linking all road users from the south to Cross River State.
The road is laden with numerous trailers, trucks and other articulated vehicles that ply it on a daily basis due probably to quarries that dot Cross River.
The state has large deposits of limestone. The quarries belong to licensed companies in the business of excavating and supplying limestone to end users. Therefore, Calabar-Itu Road provides the major gateway to the quarries, especially for customers coming from the southern axis. It has always been a death trap as previous governments never took its rehabilitation seriously. Consequently, the road, despite its commercial and social importance, has been in a decrepit condition for more than a decade. In fact, the projects from contracts awarded on it in the past were abandoned.
So, it was with fear and despair that we approached the road characterised by chains of craters. In many sections, it has become a chasm which drivers have to go through near death situations to navigate.
The entire stretch till the tip of the popular Itu Bridge was marshy and muddy. The vehicles crawled and at many areas lined up in a harrowing gridlock that lasted for hours. But there was a glimmer of hope as signs emerged that the road was receiving some attention from the administration of President Bola Ahmed Tinubu. The reconstruction of the road was ongoing with concrete pavement of the Minister of Works, Dr Dave Umahi, already installed in some places. Those areas brought some relieves during the journey as we made our way to Calabar.
The journey to Calabar was undertaken out of curiosity. It was an inquiry into the state of the Lagos-Calabar Highway Project, prompted by the claims in some quarters that the project, a big ticket investment of the Tinubu administration, was only receiving attention at the Lagos end. Some persons even insinuated that no ground had been broken for the project at the Calabar end. Therefore, the desire to know the true situation of the road in Cross River informed the trip.
The inquiry started a day after we arrived in Calabar from Port Harcourt, with the Cross River State correspondent of The Nation, Gill Nsa, as my tour guide. Nsa is from Cross River State and understands the politics, the economy and culture of the state having worked in the area as a journalist for many years. The next day, Nsa took me to Akamkpa Local Government Area not far from Calabar. We drove through the popular Calabar-Ikom Road. The road also leads to Ogoja and can be used to access Benue and other northern states. However, the road is also in bad shape and has been undergoing reconstruction for many years. The current administration is also paying attention to it.
The tour guide suddenly pulled over at the right side of road close to a police checkpoint. He called the place Awi. And opposite us was the Calabar corridor of the Lagos-Calabar Coastal Highway Project. In fact, it was not difficult to know that a major project was ongoing. Sounds of heavy duty machines saturated the atmosphere. The new highway begins from the Awi thick forest in Akamkpa.
Already the shape of the road had been carved. Two signposts hoisted opposite each other tell the story of an ambitious developmental project, the first of its kind in the Niger Delta region in a long while.
The signposts bear the picture of President Bola Tinubu. Of course, he was the one who mustered the courage to brace the tape. Details of the project were contained on the signboards. The Government of the Federal Republic of Nigeria is in charge of it through the Ministry of Works. They further identified the axis as Lagos-Calabar Coastal Highway Section 3A/3B CH. 65+000-CH.0+000 C/NO.8784.
The signposts further identified the contractor as M/S HITECH Construction Company Limited and gave the duration of the project as 36 months. We were allowed to drive through the passable section of the road. At some points, we abandoned our vehicle and trekked for some kilometres to observe the ongoing work.
In fact, constructing the road from the Calabar axis is not a tea party. From the beginning were hills, followed by rocky mountains and swampy marshy terrains. We saw that trees were felled and the Mangrove was cleared as the workers made frantic efforts to link it to the Akwa Ibom section of the road. Over 15 earth-moving equipment performing various construction roles were seen on ground. The humming, buzzing sounds of the excavators and swamp buggies, among other equipment, told even the blind that a major developmental project was ongoing.
As at the time we toured the project, earthwork on the road was still ongoing. Only about five kilometres could be driven or walked on. The concrete pavement and the meridian had not been installed but clearing and excavation had gone far into the forest.
Although the terrain appeared cumbersome, the contracting firm was pursuing the project with determination and diligence, bulldozing the hills and cracking the rocks to get to the required level. It was painstaking but it slowly led to a paved road. With admiration, we stood and watched the workers undertake their various tasks.
One of the workers, who identified himself simply as John, told us that work on the road was an everyday affair. “We resume here every day. You can see the terrain is difficult. But work is progressing. The white men doing the excavation have gone far with it. They take off every morning accompanied by soldiers, and they don’t come back till the close of work”, he said.
One of the expatriate workers, who said they were not allowed to talk to people, identified the major challenge of the project as the rainy season. “We are working, but he rains are disturbing us. Most of the days, the rains fall heavily. Some days when we resume, the weather will look friendly. But before you know it, boom, the rain begins to fall and stop the work.
“But as you can see we are making progress,” he said.
Indeed, we could see a world of difference between the construction from the Calabar axis of the coastal road and the Lagos section. The topographies are not the same. While the Lagos axis appeared faster because of the table nature of most part of the land, the Calabar section seemed slow but steady following the rocky, hilly and marshy nature of a significant portion of the land.
We took our time to gauge the opinions of passersby, especially commuters and drivers plying the Calabar-Ikom road, and most of them could not hide their joy. They commended the President Tinubu-led Federal Government for daring to undertake the new road project. They recalled that previous administrations avoided it despite the cries of the people.
A resident of Akamkpa, Prosper Emmanuel, described it as a thing of joy. Emmanuel said the project had compelled him to join the mass mobilisation for the President’s second term. He said the project would only be completed if President Tinubu remains in office beyond 2027.
Emmanuel disclosed that actual construction began in the area about two months ago. Emmanuel said President Tinubu deserved commendation for undertaking a project of such magnitude adding that other administrations lacked the courage to embark on such legacy projects.
Emmanuel said: “I am an indigene of Akamkpa Local Government. It is a thing of joy to have a project of this magnitude around this area. Everybody prays for development. The rate at which the contractors are going about it if they keep it up, it will soon be delivered and it will be commendable.
“They have been on site for two months now and work has been on a high level. This road is a plus to this administration because many administrations had come and gone and something big like this has never happened”.
Emmanuel highlighted the advantages of the project saying it would go a long way to empowering the locals economically. He told persons doubting the project’s commencement from the Calabar section to bury their thoughts.
He said: “This is a heavy and serious project. It will go a long way to help our people economically and politically. It will reduce the burden of road transport. Some people have been asking me whether this road has started here and I keep telling them that it has started in ernest.
“This is not even the only place the job is ongoing. It is in segments. The jobs are going on simultaneously in other sections and I want to categorically say that the level of work is high and serious. In fact, because of this road I have started campaigning for the President’s second term”.
A driver plying the Calabar-Ikom Highway, who identified himself simply as Kingsley praised the President for the ongoing job at the Calabar axis of the road. Kingsley said since the company conquered the entrance to the project, they had continued to work at the site on daily basis.
“This project is massive and it is not easy because of the terrain of this area. Since they started this project from this axis, they work here every day and the road is progressing. We are happy that the President is undertaking this kind of project. We are grateful to him,” he said.
When we approached HITECH officials at their administrative office, located a few kilometres after the project site, one of them, who identified himself simply as Engr. Elias, said they had no authority to speak to the media about the project.
He said: “We don’t have any authority to speak to anybody about the project. We don’t even talk to ministry officials. You can come to the project site and see what is happening. If you need anything, go to our head office.”
But he later added: “We have gone far on the project. If you come in a few weeks time, you will see more.”
To gauge the pulse of the state government, we spoke to the Commissioner for Works in Cross River State, Ankpo Pius Edet. He told doubters that the project was ongoing at point 001 in Cross River, describing it as evidence of the Renewed Hope Agenda in Cross River State.
Edet said President Tinubu had demonstrated his creative mind by opening up an area that had no road before.
He said: “For us in Cross River, we are delighted and pleased to have the implementation of the Renewed Hope Initiative in our state.
“It is only in this administration that the government is creating road where there is no road.
“Within the state here the governor had emulated the renewed hope agenda of President Tinubu by opening a road that had never existed before. President Tinubu opening over 700km of road from Lagos to Calabar is unbelievable.
“Others think it is a mirage that will never come to be. But today it is a true testimony of a creative mind for this to happen. The eyes can see today. The other section in Lagos was partially inaugurated and this stretch from Calabar is presently ongoing.
“What will the critics say again? For Cross River, all we can say is a big thank you to President Tinubu. Within two years in office, what President Tinubu has done, many Presidents have not done it.”
Edet further commended the Minister for Works, Dr. Dave Umahi, for revolutionising road construction through his concrete pavement technology, which he said was adopted for the Lagos-Calabar project. He said the state government was always ready to give support to the project
Addressing those who claimed they did not know the value of the project, Edet said: “‘Anybody who says he doesn’t know the value of the road is ignorant. I don’t blame them.
“But to us, that road is a game changer for the economy of the South-South, the economy of the country, because Cross River is the agricultural hub of this country. So the linking of the Lagos-Calabar highway will transfer agricultural products from Cross River to the west.
“It is a game changer and ice breaker for us and the people of Nigeria. It is something that we are grateful to the President for.”
The Commissioner further hinted on how the project would stimulate the state’s economy. He said the road is aligned to the area where the state government is designated for the Special Agro Processing Zone (SAPZ) and the Bakassi Deep Seaport.
He said: “The Lagos-Calabar Highway Project is a game changer. A lot will happen. It will blossom the economy of the state and revolutionise agriculture.
“So, a lot of things are in store, and I tell those that were ignorant before to wake up from their slumber because the game changer has come.”
Edet also commended the Federal Government and Minister Umahi for their choice of contractor, saying HITECH had demonstrated its seriousness and commitment for the project with the equipment it had so far deployed at the project site. He asked persons doubting the commencement of the project at the Calabar section to wake up from their slumber.
He said: “A lot is happening from this axis. The project is seriously ongoing and HITECH is doing their best.
“I commend his Excellency for the choice of HITECH. With the robotic availability, that is the equipment they have on ground and the technical exposure they had shown within the space of this time, and with what I have seen as a qualified civil engineer, they are doing very well.
“The standard of the road and the thickness of the reinforcement here are accurate. I commend the President for the choice of company. They are giving us the best.
“I want to talk to the whole Nigeria that it is not true that the Calabar section of Lagos-Calabar is not ongoing. It is presently ongoing. We are feeling it.
“In less than a week, we should be able to connect the other side in Akwa Ibom. But like I said earlier, there are always critics in democracy.”
Edet x-rayed the challenges of the project from the Calabar axis identifying the weather and the difficult terrains as major obstacles.
But he classified them as natural, noting that they could only affect the timeframe for the project delivery.
He added that HITECH, having existed in the state for over 20 years, was equal to the task of dealing with the challenges.
He said the people of the state were happy with the employments generated by the project observing that in application of local content, the contractor gave jobs to many people from the state
He said: “The weather has remained the greatest challenge of the road construction. This period is the rainy season and we are in the mangrove where water table is always high and the rainfall is heavy.
“The major challenges are the swampy nature of the place, the mangrove sections that require high level of filling with sharp sound.
“These challenges will affect the timeframe of the project. They are natural and inevitable. But they are pushing.
“People should understand the differences in terrains. The contractor is also complying with the local content aspect of the project because our people are participating in the project.
“The people of Cross River are also participating in the project. Some are supplying sand and others are artisans.
“HITECH has been here for over 20 years, so they understand the terrain.”
Undoubtedly, the Calabar axis of the Lagos-Calabar Coastal Highway has started and it is progressing. It is not only the Calabar section that has commenced, the Akwa Ibom part of the road is also progressing. Some Niger Delta stakeholders recently toured the Akwa Ibom section. Stakeholders from the Movement for the Survival of Izon Ethnic Nationalities in Niger (MOSIEND) and the Niger Delta Youth Coalition for Peace and Progress (NDYCPP) after their tour hailed the progress of the project.
The President of MOSIEND, Amb. Kennedy Tonjo-West, who led others on an inspection tour of sections of the project in Akwa Ibom State, said they were happy that it was quietly taking shape and that the progress was steady and impressive.
West said the massive infrastructural project being undertaken by President Bola Ahmed Tinubu remained one of the most ambitious in Nigeria’s recent history.
“Stretching through key southern states, it is designed to open new corridors of trade, tourism, and connection across the coast,” he said.
He said their investigations revealed that in Akwa Ibom State, work had continued despite the relentless rainy season, describing it as a sign of genuine commitment from both government and contractors.
He commended the contractor handling the Akwa Ibom axis of the project, Hitech Construction Company Limited, and Mr. Joseph Matar, who serves as the Project Manager, supported by Drycet International Ltd, led by Mr. Karim Aleeds.
He said during the tour, they observed that the Hitech’s teams kept a near round-the-clock schedule, working even on weekends to meet the Federal Government’s delivery targets.
West said: “During the recent inspection tour of the Akwa Ibom corridor, from Channel One in Okobo/Nsit-Atta to Channel 31 in Uruan, we were deeply impressed by what we saw.
“We saw firsthand the heavy machinery, skilled workers, and constant activity on site even on weekends”.
One of the MOSIEND’s leaders, Dimieri Pepple, said: “It cleared every doubt and gave us renewed confidence in the Federal Government’s sincerity. We saw the project’s growing impact on local livelihoods.”
One of the leaders of NDYCPP, Ini Udo Idiong, said: “Our formerly unemployed youths are now gainfully engaged. Small businesses are springing up around the sites, and communities are becoming vibrant again.”
He appealed to politicians to stop politicising the coastal road, describing it as “a project for all Nigerians.”
“This road isn’t about party lines; it’s about people. It will boost commerce, link communities, and unlock opportunities across the region”, Idiong said.
Idiong commended Governor Pastor Umo Eno of Akwa Ibom State for aligning his state’s development priorities, especially youth empowerment and infrastructure, with the Federal Government’s vision.
He further acknowledged Senate President Godswill Akpabio for his continued push to strengthen development initiatives through the Niger Delta Development Commission (NDDC) and other federal programs.
Idiong said: “With over three decades of experience in heavy civil engineering and marine infrastructure, Hitech Construction Company Ltd remains one of Nigeria’s most trusted indigenous firms.
“The company says it is proud to play a part in “building the nation’s coastline and connecting its people to new possibilities.”
