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The Vice-Chancellor of the Federal University, Gusau, Prof. Muazu Abubakar, has dismissed allegations that members of the House of Representatives Committee on University Education demanded N480m to approve federal universities’ 2025 budgets.
In a letter dated January 27 and addressed to the committee’s chairman, Abubakar Fulata, the VC refuted media reports suggesting that lawmakers pressured vice-chancellors to pay N8m each as a condition for approving their allocations.
He noted that the report specifically mentioned a “stubborn vice-chancellor” believed to be him and stated that while he initially intended to ignore the claims, he decided to respond to prevent any misleading narratives from being accepted as fact.
“The attention of the Federal University, Gusau, has been drawn to a trending online report titled Investigation: Nigerian Lawmakers Demand N480 million from Universities to Approve 2025 Budget.
“We categorically state that no member of the university team present at the budget defence was part of the information circulated in the media. We urge you, Mr. Chairman, and your esteemed committee members to disregard this malicious and sensational report, which aims to mislead the public and undermine constructive journalism.”
Abubakar commended the committee for its support, describing the budget defence session as “robust, friendly, and engaging.”
Similarly, Fulata had earlier dismissed the allegations at a press briefing, insisting that they were an attempt to discredit the committee’s efforts to enhance Nigeria’s education sector.
“It is absurd for anyone to suggest that lawmakers demanded even a ‘kobo’ as a precondition for approving budget proposals,” Fulata said, stressing that the report sought to mislead the public about the activities of the committee and the 10th House of Representatives.
In a statement last Wednesday, the spokesman for the House, Akin Rotimi, described the media report (not by The PUNCH) as a deliberate attempt to smear lawmakers’ reputation.
Rotimi said, “The 10th House of Representatives is firmly committed to transparency, accountability, and the highest ethical standards in all its legislative activities. These values form the bedrock of our operations. It is, therefore, imperative to address the baseless and sensational allegations in the report, which appear to be part of a deliberate attempt to undermine the integrity of the House and erode public trust in this hallowed institution.”
Denying the media report, the House spokesman said it “lacks any diligent investigative effort as they would want people to believe, and instead, amplifies fabricated narratives by individuals seeking to evade accountability.”
The tariff and imminent trade war orchestrated by US President Donald Trump against Canada, China and Mexico may heighten imported inflation for Nigeria and some African countries.
Economic and financial experts say Trump’s action could also cause a fall in the price of crude oil.
Trump had on Saturday signed an executive order, imposing new tariffs, including a 25 percent duty on all imports from Mexico and most products from Canada, along with a 10 percent tariff on goods imported from China.
According to the Trump administration, the tariffs are aimed at curbing the flow of drugs and undocumented immigrants into the US. President Donald Trump said on Sunday that the sweeping tariffs he imposed on Mexico, Canada and China may cause “some pain” for Americans.
In swift response, Mexican President Claudia Sheinbaum announced retaliatory tariffs, while Canadian Prime Minister Justin Trudeau introduced “far-reaching” levies targeting American goods.
Meanwhile, the Chinese government said it would be filing a formal complaint to the World Trade Organisation (WTO) against the U.S. over President Trump’s decision to impose new tariffs on imports.
China’s ministry of commerce promised to take necessary countermeasures to safeguard its interests.
“The unilateral tariff hikes by the US seriously violate World Trade Organisation rules,” the ministry said.
While experts see opportunities for countries with manufacturing capabilities to explore the trade war to their advantage, they doubted the capacity of Nigeria to exploit opportunities from the trade war, since the country is not a producing economy but import-dependent.
In a telephone interview with LEADERSHIP yesterday, the chief executive of Centre for Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the tariff slammed on countries such as Canada, China and Mexico may lead to heightened imported inflation for Nigeria.
According to him, despite the tariff being a bilateral issue, it will disrupt global trade which will have implications for the global economy in the long run because of the size of the economies involved.
For Nigeria, he noted that the tariff will spark inflation in the U.S., affecting the price of imported goods from the country into Nigeria.
“Secondly, if there is inflation in the U.S. which is more likely to happen, the U.S. Fed is likely to raise interest rates, and when they do this, Nigeria will have issues with foreign portfolio investments (FPIs).
“So there is the issue of the inflationary effect transmitted to us by way of effect on our FPIs. There is also the issue of inflationary effect arising from our import from the U.S. which we do not have much alternative for,” he said.
Yusuf pointed out that the trade war may depress the global economy, and lead to the development of new trade partnership, adding that manufacturing countries that are not slammed with the tariffs would be better for it.
Professor Michael Obadan, a former Monetary Policy Committee (MPC) member noted that Nigeria’s level of exports had become quite inconsequential that the country may not be able to tap into the opportunities present in the trade war. Expressing pessimism about Nigeria’s readiness to exploit any opportunity, he said, “One will expect that if America is reducing its volume of trade with the countries affected in the tariff war, it may want to import from other countries that have not been imposed with such tariffs.
“If Nigeria were a manufacturing country and we had the capacity to manufacture and the goods are similar to the ones tariffed, it would have been an opportunity for Nigeria to increase its volume of exports and earn more foreign exchange.”
He noted that Nigeria’s economic environment was hostile to manufacturing because of the reform policies implemented in the last few years.
“Many manufacturing companies have departed the country, particularly the foreign ones, and those in the country are just struggling to produce. They are producing goods at very, very high costs because the operating environment is very hostile, and such goods are not competitive, even within the country, not to talk of abroad.
“Nigeria is not in a good position to take advantage of any trade opportunity that might be tariff war initiated by America. Nigeria is a bad shape at the moment in the area of production, particularly production of manufactured goods and agricultural goods. Trade war involves manufactured goods, mostly, maybe some extent, agricultural goods,” he said.
For his part, the chief executive of Economic Associates, Dr. Ayo Teriba, sees the potential threat of disruption by President Donald Trump as empty and only temporary at best.
He noted that the world had changed and countries were better prepared to absorb the shocks of tariffs and other trade restrictions.
According to him, the USA is just a country of 350 million people against the likes of China and India, and other countries that constitute the BRICS nations.
He also said the USA did not belong to any economic bloc, yet Trump was threatening countries that belong to BRICS, made up of billions in population, noting that if these countries were to retaliate, it would be the American economy that would suffer the most.
“If you restrict their sales to your country they will end up restricting your own sales to more than two billion people. Who is going to lose more? When it comes to trade war, I think America is more vulnerable than Trump is imagining.
“I see what Trump is doing as empty threat; after about three months from now, the reality will begin to dawn on him,” he said.
A frontrunner for the prime ministerial position in Canada, former Finance Minister Chrystia Freeland, in an interview with the CNN’s Global Public Square presenter, Fareed Zakaria, yesterday stated that by slamming trade restrictions on Canada, the USA was shooting itself in the leg as it depends on Canada for a huge chunk of its trade.
A development economist at Adeleke University, Professor Tayo Bello, believes the ongoing trade tensions should serve as a wake-up call for Nigeria to intensify its backward integration efforts.
“Trump is enforcing backward integration in America to protect jobs and industries. Nigeria should be doing the same. We have abundant agricultural land, yet we are net importers of food. We have vast crude oil reserves, yet we import refined petroleum products. The government must prioritise self-reliance and local production,” he said.
But chief executive of AntHill Concepts Ltd, Dr. Emeka Okengwu, insists that Nigeria must take advantage of this shift.
“Nobody holds absolute economic power anymore. Even though the U.S. is a dominant force, other economies are adjusting. The BRICS nations, for example, are strengthening their economic ties, and they are already some of the biggest buyers of Nigeria’s crude oil. We should leverage these relationships and move from just exporting raw materials to adding value through local refining and industrial processing,” he said.
A financial economist at Auchi Polytechnic, Zakari Mohammed, sees both risks and opportunities in Trump’s policies.
“A weaker naira could make Nigerian exports more competitive in international markets, but it also makes imports more expensive, increasing inflation. The key for Nigeria is to reduce its import dependency and build a self-sufficient economy. If we fail to do so, global economic disruptions like this will always leave us vulnerable,” he said.
On his part, chief executive of Cowry Assets Management Company, Mr Johnson Chukwu, noted that the tariffs would lead to an increase in the cost of goods and services, because countries are going to build barriers.
“The principle of competitive advantage will be jettisoned and this means everybody will try to produce everything, even when the costs of producing those things in their localities are higher.
“Donald Trump is pushing for improved oil production in the U.S. and he has also said he is going to disrupt the OPEC+ Alliance, and get Saudi Arabia to produce more. When that happens, we should expect crude prices to drop. And because Nigeria doesn’t have capacity to compensate for the drop in terms of increased production, our foreign exchange will slow down.
“Ordinarily, if you can compensate for a drop in price by increasing volume, you will not so much feel the impact but we are not in that position. So what that means is that Nigeria’s foreign exchange inflow will be negatively impacted.”
The director-general of National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Sola Obadimu said Nigeria needs to develop its trade policy that will favour and protect the nation as other nations are doing.
“Those in charge of our trade policy should bring out policy that will protect us,” he said.
The vice president of Highcap Securities Limited, Mr. David Adonri, said by the trade war and violent threats of acquisition of independent countries, the United States of America is dislocating the world’s socio-economic order.
“The tariffs war may eventually provoke global hyperinflation and perhaps lead to recession,” he stated.
Adonri further noted that there is the possibility of a precipitous fall in the price of crude oil amidst this battle, which may batter the Nigerian economy.
“The U.S. is pursuing a covert isolationist policy aimed at revitalising their domestic production capacity.
“The impact of the policy on Nigeria can be very devastating if it adversely affects diaspora remittances and crude oil price. The situation is deteriorating very fast and if Nigeria does not react proactively by domesticating the economy like the U.S. is doing, the consequences may be very dire.”
Opportunities for Nigeria and Other Exporting Nations
While the trade war between the U.S. and its partners presents economic challenges, analysts believe it could create new export opportunities for countries like Nigeria
Speaking with LEADERSHIP yesterday, economic sector analyst, Stephen Kanabe said as U.S. tariffs will make goods from China, Mexico, and Canada more expensive, Nigeria can position itself as an alternative supplier, especially in sectors like oil, agricultural products, and manufactured goods.
Companies looking to avoid tariffs may shift production to Nigeria or source raw materials from Nigerian industries, boosting local manufacturing and job creation.
“With disrupted trade flows, Nigerian products (such as crude oil, agricultural exports, and textiles) may become more attractive to U.S. buyers seeking cost-effective alternatives to goods from China, Mexico, and Canada,” he stated.
However, a former member of the Monetary Policy Committee, Professor Michael Obadan, said Nigeria’s level of exports had become quite inconsequential that the country may not be able to tap into the opportunities present in the trade war.
Expressing pessimism on Nigeria’s readiness to exploit any opportunity, he said, “One will expect that if America is reducing its volume of trade with the countries affected in the tariff war, it may want to import from other countries that have not been imposed with such tariffs.
“If Nigeria is a manufacturing country and we have the capacity to manufacture and the goods are similar to the ones tariffed, it would have been an opportunity for Nigeria to increase its volume of exports and earn more foreign exchange.
“Nigeria’s economic environment is hostile to manufacturing because of the reform policies implemented in the last few years. Many manufacturing companies have departed the country, particularly the foreign ones, and those in the country are just struggling to produce. They are producing goods at very, very high cost because the operating environment is very hostile, and such goods are not competitive, even within the country, not to talk of abroad.
“Nigeria is not in a good position to take advantage of any trade opportunity that might be tariff war initiated by America. Nigeria is in a bad shape at the moment in the area of production, particularly production of manufactured goods and agricultural goods. The Trade War involves manufactured goods, mostly, maybe to some extent, agricultural goods.”
Economic analyst Jimoh Solomon Sule suggests that the situation could lead to increased export demand for non-U.S. suppliers, and trade diversion as companies seek alternative sourcing options. Apart from that, he said more foreign direct investment (FDI) will go to countries with strong manufacturing bases.
“Nigeria’s competitiveness could improve as disruptions in global trade force buyers to look for alternative suppliers,” Sule explained.
Crude oil, one of Nigeria’s primary exports, could become a viable alternative for U.S. importers seeking to offset changes in their trade relationships.
Trump Receives Flak
A barrage of condemnations has rained down on United States President Donald Trump following his decision to impose stiff tariffs on imports from neighbouring countries, Mexico and Canada, as well as its largest supplier of goods, China.
According to analysts, Trump’s new tariffs could drive up the prices of everyday goods, from cars and sneakers to tequila and avocados.
Trade between North America and the U.S. hit $1.8 trillion in 2023—far surpassing the $643 billion with China. Trump’s new decision imposes a 10 percent tariff on all Chinese imports and 25 percent on those from Mexico and Canada, with a lower 10 percent rate on Canadian energy.
The U.S. imports billions in cars and parts from Canada and Mexico, with vehicles crossing borders multiple times during production. Experts warn a 25 percent tariff could add $3,000 to car prices.
Also, Canada, America’s largest crude oil supplier, ships billions in oil that U.S. refineries rely on. Tariffs could push gas prices up by 30-70 cents per gallon.
The U.S. imports billions in tequila, mezcal, and Canadian whisky. Retaliatory tariffs could further hurt the spirits industry, which already faces a 50% EU tariff on American whiskey. The U.S. buys $85 billion in farm goods from Canada and Mexico, including most imported fruits and vegetables. A 25% tariff would mean pricier groceries, including “guacamole tariffs” just before the Super Bowl.
Past tariff wars led to retaliatory measures on U.S. crops like soybeans and corn, forcing the government to compensate farmers. While Trump delivered aid before, many farmers prefer open markets over government checks.
[Leadership]
Kano State Governor, Abba Kabir Yusuf, has honoured 19 generals, six professors and 10 other Kano citizens who have excelled in their chosen careers.
The state banquet in honour of the distinguished Kano sons and daughters was held at the government house Saturday night.
Speaking at the occasion, Governor Yusuf congratulated those honoured for reaching significant milestones in their respective fields, emphasizing that their achievements have been instrumental to the socio-economic development of the state and the nation.
The governor, who said the event was non-partisan, assured the guests that the celebration was purely in recognition of their professional excellence, expressing his administration’s commitment to work hand in hand with the leaders without any political interference.
“You are great professionals of record, and it is this spirit of selfless service that we want to encourage and celebrate,” he said.
The governor encouraged the younger generation to pursue education and careers in various fields such as the military, police, civil service, judiciary and others, noting that would help Kano State continue to produce nationally and internationally recognised talents.
He expressed gratitude to all stakeholders who contributed to the event’s success, including the federal government for its support in promoting Kano’s indigenous talent.
Earlier, the chairman of the organising committee, Mohammed Jamu, explained that the event was to celebrate the extraordinary contributions of Kano’s sons and daughters – individuals who have represented the state with distinction across various fields.
On his part, the leader of all imams in Nigeria, Sheikh Nasir Muhammad Adam, challenged the awardees to ensure mentorship of upcoming ones in their chosen careers.
The awardees are Air Marshal Hassan Bala Abubakar, Major General M. S. Ahmed, Major General I. S Ali, Major General A. M. Garba, Major General Sani Sumaila Ibrahim, Major General B. U. Yahya, Major General S. Y. Bashir, Major General U. B. Abubakar, Major General Faruk Mijinyawa and Major General Jamal Abdulsalam.
Other military officers include Air Vice Marshal M. Yusuf, Air Vice Marshal G. A. Bello, Air Vice Marshal B. R. Mamman, Air Vice Marshal S. K. Usman, Air Vice Marshal M. S. Ibrahim, Air Vice Marshal K. M. Umar, Rear Admiral Abdullahi Ahmad, Rear Admiral Aliyu Gaya and Rear Admiral Idi Abbas.
Also awarded were Prof. Shehu Ahmad Said Galadanci, CON, Dr Nasiru Sani Gwarzo, Yakubu Adamu Kofar Mata, DIG Dasuki Galadanchi, DDG DSS, Alhaji Ado Muazu, Prof. Umma Abdullahi, Prof. Hadiza Galadanci, Prof. Nazifi Abdullahi Darma, Prof. Hamisu Armayau Bichi, Prof. Sagir Adamu Abass and CP Hajiya Hauwa Ibrahim.
Others were Dr Rislanuddeen Muhammad, Eng. Mustapha Balarabe Shehu, Arc. Hauwa Hassan Tudunwada, Ado Kabiru Minjibir Mni and Marwan Mustapha Adamu mni.
[DailyTrust]
President Bola Ahmed Tinubu is ready for any challenge from opposition leaders during the 2027 general election, the Presidency said yesterday.
It faulted comments by the political opponents against the administration, describing them as “distracting” and “Machiavellian.”
The Presidency advised the leading opposition figures and other critics – Alhaji Atiku Abubakar, Mr. Peter Obi, Senator Rabiu Kwankwaso, Mallam Nasir El-Rufai and Mr. Rotimi Amaechi – to wait till the next poll before they flex muscles.
According to the Presidency, the activities of the opposition leaders are premature.
“This is 2025, not 2027. Let those who want to test their popularity with Nigerians wait for the next election,” Sunday Dare, Special Adviser on Media and Public Communications, said.
Also peeping into the future, former House of Representatives Speaker and ex-governor of Katsina State, Bello Masari, said there was no alternative to the ruling All Progressives Congress (APC).
Former member of the National Working Committee (NWC) of the party, Salihu Lukman, said some of the opposition figures lacked the quality of leadership, urging them to drop their presidential ambitions.
He said: “Based on their records, they exhibit intolerant dispositions and poor relationships on account of which they have mismanaged their transitions and are today hardly in control of political structures in their states.”
At a two-day democracy conference in Abuja, Atiku, 2023 presidential candidate of the Peoples Democratic Party (PDP), his Labour Party (LP) counterpart, Obi, and former Katsina State Governor El-Rufai fired salvos at the Federal Government, saying that it was not living to expectation.
Atiku alleged that the ruling party had doled out N50 million as a bribe to each of the opposition parties to disorganise and silence their leadership.
El-Rufai, a chieftain of APC, alleged a lack of internal democracy and active party structures within the ruling party.
“I no longer recognise the APC. No party organ has met in two years—no caucus, no NEC, nothing. You don’t even know if it is a one-man show; it’s a zero-man show,” he said.
Amaechi called for “brutal force” to take from President Tinubu in 2027, adding that if he had been president, he would have run the country differently.
Taking an exception to the comments, Dare, in a post on his verified X handle, urged Nigerians to scrutinise the antecedents of these politicians.
He described the attacks on the Tinubu Administration as predictable attempts to stir controversy while the President was away in Tanzania addressing Nigeria’s energy challenges.
“While the President was seeking solutions to Nigeria’s energy problems in Dar es Salaam, some ‘wannabes’ were heating up the polity,” Dare added.
The Special Adviser described the recent Abuja gathering as an effort to spread ill will, noting that some participants resorted to undemocratic rhetoric.
“Expectedly, it was a gathering convened to further spread ill will.
“Nothing new came out of the gathering different from the opposition script we are used to,” Dare stressed.
He urged Nigerians to scrutinise the antecedents of these “political gladiators” and choose between “political hecklers and real progressives.”
Dare emphasised that President Tinubu remains focused on his mandate to improve the lives of Nigerians and build a resilient economy, despite the distractions.
“The only conversation he wants to have now is how to improve the lives of Nigerian citizens and constructive discourse on building a resilient economy,” he said.
Dare assured Nigerians that President Tinubu, an “avowed democrat,” remains “undistracted and unperturbed” by the opposition’s tactics.
Masari: No credible alternative to APC
Masari said that there was no credible alternative to the APC administration.
He spoke in Kafur, Kafur Local Government Area, during the flag-off of the campaign for the Katsina State local government elections scheduled for February 15.
He said: “The news making rounds in the social media that some politicians are teaming up for merger is nothing but regrouping of those who lost political favours in the APC, in terms of appointments or patronage.
“Their attempt to form an alliance will not divert the attention of APC from conceiving and implementing programmes that could assuage the pains of the common man.”
Masari urged Nigerians to exercise more patience with the APC administration, adding that the harsh economic hardship is a global phenomenon.
He added: “I am in APC today, tomorrow and always because I am not in the party for any political position or appointment.”
The former governor urged APC loyalists to propagate the good works and ideals of the party, pleading with them to take any shortcoming as a human error.
The Senior Special Assistant to President Tinubu on Political Matters, Alhaji Ibrahim Kabir-Masari, urged APC members to close ranks and work assiduously to ensure the success of the party at all times.
He said the president had awarded a contract for the reconstruction and upgrading of the Zaria/Malumfashi/Funtua/Yashe Roads, in a bid to facilitate socio-economic activities.
The presidential aide also said the president had approved the establishment of a Federal College of Agricultural at Nabanje, Masari.
He added: “I can assure you that more developmental projects will be awarded to the people of the area in due course.”
‘Amaechi’s remarks inflammatory’
The Arewa Youths Consultative Forum (AYCF) chided Amaechi for making inflammatory remarks about the Tinubu administration.
It hailed the Minister of State for Defence, Bello Mohammed Matawalle, who warned the former Rivers governor against rhetorics.
AYCF President-General, Yerima Shettima, said Amaechi incited violence to destabilise the country.
Shettima said Matawalle had sent a clear message that such behaviour would not be tolerated and that those who engage in it would face consequences.
He said leaders at all levels should take a firm stand against any form of speech that could lead to violence or civil unrest.
Shettima said Amaechi’s comment constituted a threat to national security, adding that his action undermined the democratic process.
Lukman: Atiku, Obi should drop ambitions
Lukman advised Atiku, Obi, Senator Kwankwaso and El-Rufai to drop their presidential ambitions and provide leadership for the proposed opposition political party.
Lukman, former APC National Vice Chairman (Northcentral), said in a statement: “Based on laypersons legal knowledge, many of these politicians would be adjudged to being accessories, whether before or after, to our current political travesty.
“Some of them, on account of their influential roles in past administrations and the failures of those administrations should be humble enough to take a backseat to build a strong coalition to strengthen Nigerian politics.
“Instead, it is more like a case of unrepentant show of shame.”
Lukman lamented that the mindset of most opposition leaders is more inclined towards blocking political competition in the country.
He stressed: “The truth is that any political leader who is prioritising the debate about power shift over and above building a strong political party, which can set the rules and enforce it, may only be hiding behind such arguments to impose himself/herself and perhaps invariably continue the political practice of emperors and dictators.”
Atiku kicks
YESTERDAY’S reaction to opposition leaders’ criticisms of the Federal Government by the Presidency is an attack on democracy, former Vice President Atiku Abubakar’s Media Adviser Paul Ibe, has said.
The one-time vice president, former governors Rotimi Amaechi (Rivers) and Nasir El-Rufai have been under attack for condemning the President Bola Ahmed Tinubu-led All Progressives Congress (APC) administration.
In a statement, Ibe claimed that Dare’s statement showed “the Tinubu administration plans to take the next election in the country as ‘a combat and a fight”.
He said the Tinubu government should unite and heal the nation and desist from making careless remarks about other countries.
The statement reads: “It therefore, becomes pertinent to tell the Tinubu administration that last week’s gathering of political leaders across the country is aimed at fostering the ethos of democracy in Nigeria, making sure that elections in Nigeria are credible, and that democracy is the vehicle for progress and social justice in the country.
“We find it curious that the Tinubu government would react to these noble ideals as ‘Machiavellian inclinations
[TheNation]
Former President Olusegun Obasanjo has revealed how Ijebu leaders lobbied the then Head of State, the late Gen. Murtala Mohammed, to designate Sagamu as the capital of Ogun State when it was created in February 1976.
Obasanjo, speaking 49 years after the creation of the state, disclosed that the Ijebu leaders argued against Abeokuta being chosen as the state capital, citing land constraints.
He made this revelation at the induction ceremony and Gala Night of the Egba Legacy Network, held at the Olusegun Obasanjo Presidential Library in Abeokuta.
The former President recounted his encounter with Gen. Mohammed, saying, “When we wanted to establish Ogun State, our brothers from Ijebu did their exercise very well. They said we don’t have land, and they campaigned against making Abeokuta the state capital. When we got to the discussion table, they proposed Sagamu instead.
“This place we call Ogun State, before 1932, it was named Abeokuta Province, including Ijebu. When Ijebu Province was to be established, it was DO that was in Ijebu.
“They said we don’t have land, that was why it is called Abeokuta. My boss, Murtala Mohammed, had been briefed and agreed that Sagamu should be the state capital. He said, ‘We are going that way.’ But I told him, ‘Since we are going to have Kano State, then Rago should be the capital of Kano.’”
Obasanjo said this response angered Murtala Mohammed, who lashed out at him.
“He attacked me, saying, ‘How dare you?’ And I said, ‘How dare you too?’ That was how we ended the discussion.”
Obasanjo urged the Egba Legacy Network to document Abeokuta’s rich history and ensure that key figures in the development of Egbaland are recognised in their heritage tourism project.
He emphasised that Abeokuta’s proximity to Lagos should be leveraged to turn the ancient city into a major tourist attraction.
Earlier, the Osi Apagunpote of Egbaland and Chairman of the Egba Legacy Network, Chief Lai Labode Jnr, charged new inductees to work towards the beautification and development of Abeokuta.
Labode explained that the group aimed to preserve the culture, traditions, and history of Egbaland while celebrating past and present heroes.
Among the projects planned is the Egba History and Heritage Area, which will feature statues of iconic Egba personalities, including Sir Adetokunbo Ademola, Prof. Saburi Biobaku, Madam Efunroye Tinubu, Fela Anikulapo Kuti, Chief Beko Ransome-Kuti, Chief MKO Abiola, Ayinla Omowura, and Chief Olusegun Obasanjo.
Labode highlighted Ibara GRA, Oke-Mosan-Kobape Expressway, and Alake Palace as areas that will witness the first phase of the transformation.
He explained that the Egba Legacy Network, founded 18 months ago, consists of professionals committed to uniting Egba sons and daughters across the world to drive socioeconomic development.
[Punch]
The stock market sentiment remained mixed last week as more corporate earnings reports hit the market with impressive numbers, spiking buying sentiments, even as some results were below expectation resulting in some profit taking.
However, investors’ attraction to the shares of Nestle, Stanbic IBTC and Nigerian Breweries, NB, boosted market activities last week, as they earned over N1 trillion through the week. Specifically, the Nigerian Exchange Limited, NGX, market capitalisation, which represents the total value of listed equities, rose to N64.71 trillion on Friday, up from N63.65 trillion previous week.
Similarly, the NGX All Share Index, ASI another stock market performance indicator grew by 0.9% Week on Week, W/W to close last Friday at 104,496.12 bases points from 103,598.30 points the previous week.
Market analysts noted that investors reacted based on some positive corporate earnings reports for the fourth quarter, Q4’24 as well as divided declaration, while attributing the growth in ASI to gains recorded by NB , which went up by 15.5%, Nestle rose by 11.4% followed Stanbic IBTC 8.2% among others.
Meanwhile, the Year-to-Date, YtD return settled at 1.6%. However, trading activity was mixed as the total trading volume advanced by 6.3% W/W, while trading value declined by 8.0% W/.
Sectoral performance was mixed as the Consumer Goods Index went up by 4.0, Banking Index 2.5% and Oil & Gas Index 1.0%), while the Insurance Index dropped by -2.9% and Industrial Goods Index -0.5%.
Commenting on market outlook, analysts at Cordros Research stated: “Looking ahead, market performance is expected to be influenced by the ongoing earnings season, with sentiment likely remaining positive for companies delivering strong earnings and attractive dividends”.
Commenting as well, analysts at InvestData Consulting stated: “We expect mixed sentiments to continue as players digest corporate numbers and more earnings reports hits the market to reveal value and give insight of dividend expectation, while rebalancing their portfolios midst high inflation and earnings expectations. Also, sector rotation and portfolio rebalancing continued in the market with investors taking advantage of price correction to buy into value.
This is amid the volatility and pullbacks that add more strength to upside potential. Consequently, investors should take advantage of price correction. Also looking at the trends and events across the globe and domestically”.
[Vanguard]
Suspected herdsmen on Sunday attacked the Amegu Nkalaha Community in the Ishielu Local Government Area of Ebonyi State, killing an unknown number of people and burning numerous houses.
The Ebonyi State Police Command spokesperson, SP Joshua Ukandu, confirmed the attack to Channels Television, stating that police have deployed operatives to the area.
While confirming the attack, Ukandu noted that the number of casualties is still being investigated.
“Yes, an attack occurred and police are responding to the situation. The command is still working to determine the precise number of people killed in the incident,” he said.
The chairperson of Ishielu local government area, Ifeoma Agwu, also confirmed the attack, adding that the process of recovering bodies and taking them to the morgue is ongoing, making it difficult to determine the exact number of fatalities at the moment.
“We are taking the victims’ bodies to the mortuary right now. I cannot talk much on it now. We will give more details later”.
While the motive for the attack remains under investigation, some residents suggested that it may be connected to the recent killing of cows belonging to herdsmen in the area.
A community member, speaking on condition of anonymity, claimed that the cows were killed by members of the Eastern Security Network (ESN) in the forest.
The source also stated that there has been tension in the community following the killing of the cows, and that stakeholders have been working to prevent retaliatory attacks.
The National Chairman of the Social Democratic Party (SDP), Shehu Gabam, says the economic policies of President Bola Tinubu may be his greatest undoing if he tries to be reelected in 2027.
Gabam listed some of the unpopular policies of the Tinubu administration including the sudden removal of petrol subsidy, unification of forex rates, electricity tariff hike, and telecoms tariff hike, amongst others.
“He (Tinubu) needs to review some of his policies, he needs to rejig his cabinet if he wants to leave a legacy that by two years. And I don’t see him surviving another election with the same kind of policies going on,” Gabam said on the Sunday edition of Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television.
The SDP boss said with less than two years in office, the demonstrations against the Tinubu government were akin to those against the administration of former President Goodluck Jonathan in 2012.
“Protests against Jonathan started two years (into his administration), and he couldn’t survive it. And there will be no president in history who has spent money to be reelected in the history of Nigeria like President Jonathan. So, if people are thinking that they will use money, they are mistaken. You will only rig while you are popular,” he said.
The SDP chair flayed the Tinubu government over its “hostilities” with opposition voices, saying the administration should make moves to amend the constitution for Nigeria to be a one-party state.
He said, “Nobody can talk to a governor, he will abuse you, he’s an emperor, you dare not talk to him, you dare not advise him. The same thing applies to the current government. The moment you advise them, they see you as an enemy.
“They forget that some of the political parties stood by INEC at the point of announcing the election (results) because we don’t want anarchy to ensue.”
SDP Not Bankrolled By APC — Chair
Gabam also denied claims that the ruling All Progressives Congress (APC) pays political parties N50m bribe, saying that will compromise the watchdog role of the opposition.
Former Vice President Atiku Abubakar had last week said the APC government paid opposition parties N50m bribe to weaken their leadership ahead of the next election. Atiku, the 2023 presidential candidate of the Peoples Democratic Party (PDP), made the allegation at a national conference on strengthening democracy last week.
Reacting, the SDP chair said, “It’s not true. For me as SDP, I cannot speak for other political parties. There is no single transaction between SDP, the Federal Government or agent of the Federal Government or representatives of the Federal Government. There is none. Never.
“We are not designed to compromise institutions; we are trying to build institutions. The moment you compromise institutions, you won’t have the audacity to speak because your conscience has been compromised and you have compromised that institution.
“If the government does not want opposition, they can as well amend the constitution so that we can have a one-party system.”
Tems has won the ‘Best African Music Performance’ category at the 67th Academy Grammy Awards for her song ‘Love Me JeJe’.
The prestigious award event was held in the early hours of Monday morning at the Crypto.com Arena in Los Angeles, United States.
The songstress edged out fellow Nigerians in a strong field of nominees — including Yemi Alade, Asake, Wizkid, Davido, Lojay, and Burna Boy — to secure the coveted award.
In her acceptance speech, the singer, who seemed elated, said: “Wow, dear God. Thank you so much for putting me on this stage and bringing me this team”.
“Tomorrow is my mum’s birthday and this is her first Grammys. I just want to thank you ma because she has really done a lot for me and my brother.
“Happy birthday, mum. And I want to thank my team. Muyiwa, Wale, my beautiful stylist, and lovely girls… I love you guys.
“Thank you so much. To God be the glory. Honestly, He has changed my life so much”.
Tems, however, lost the ‘Best R&B Song’ award to US singer SZA. She also lost her third nomination in the ‘Best Global Music Album’ category for her project ‘Born In The Wild’ to Matt B’s ‘Alkebulan II’ featuring the Royal Philharmonic Orchestra. Also in the category was Rema for ‘Heis’ album.
This is not her first Grammy Award win.
In 2023, the Afrobeats singer won the ‘Best Melodic Rap Performance’ category for her role in ‘Wait for U’, the 2022 hit song by Future featuring Drake
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says telecommunications companies (telcos) will commence the full introduction of new tariffs in March.
On January 20, the Nigerian Communications Commission (NCC) granted approval for telecommunications companies (telcos) to implement a 50 percent tariff hike.
Three days later, Wale Edun, minister of finance, said the tariff in the telecommunications sector would undergo periodic reviews.
Speaking to journalists at a forum with telecoms executives, Gbenga Adebayo, chairman of ALTON, said the telcos will issue their tariffs differently and are currently filing, reviewing, and obtaining approvals from the regulator.
“So we are now following what is called the regulatory requirement, regulatory steps of filing, review and obtaining approvals,” Adebayo said.
“As soon as those approvals come through, different players will introduce new rates as the time comes.
“I’ll say over next week, we start seeing some improvement in the prices.
“Over the next month, we should start seeing some total introduction in what the new rates will be like, but it’s important that we’ve come to a point where what has to be done has to be done for the sector to survive.”
Also, Adebayo said the tariff adjustment is essential for the survival of the telecommunications sector, stressing that the government should not rely on the sector to subsidise others.
“The other side of it is that the sector cannot be the subsidy for other sectors,” he said.
“So you can’t say because cost of garri and pepper and okro has gone up, we now have to subsidise people’s living by providing services that are sold at lower than cost. It’s a matter of time before we start seeing the negatives.
“I think it is important that we need to charge rates that are sustainable and we can’t stand as a subsidy for the problems of people in other sectors, which is not the problem caused by the operators.
“Government cannot outsource that problem to their network operators to solve for the public.
“The government needs to provide adequate palliatives to help people live, and our services cannot be used for those palliatives.”
‘PROGRESS MADE IN RESOLVING USSD DEBT’
Regarding the N250 billion unstructured supplementary service data (USSD) debt with banks, Adebayo confirmed that progress is being made towards a final resolution.
“I must thank all the stakeholders for the effort that has gone into talking about that,” he said.
“The implication is to say that when we are seeing the light at the end of the tunnel, progress is being made, and the complex matter of USSD debt is being resolved.”
Additionally, Adebayo said the tensions in the sector have reduced, and concerns have declined as the industry moves closer to a final resolution.
On January 15, the NCC directed telcos to disconnect the USSD codes assigned to nine banks should they fail to pay their outstanding USSD debts
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The Federal Government has disclosed ongoing plans to increase electricity tariffs “over the next few months”.
The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, stated this at the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania, where Nigeria presented a $32 billion plan to expand electricity connections by 2030.
It, however, said that the planned increase needed to be balanced by subsidies for less-affluent electricity users.
Verheijen said Nigeria’s power industry needs significant investment to achieve its development aims.
Of the country’s 14 gigawatts of installed power, only 8 gigawatts can be transmitted around the country and just four or five gigawatts can be directly delivered to homes and businesses, she said.
According to the presidential aide, Nigeria is trying to resolve the transition to a cost-efficient but cost-reflective tariff to attract private investors.
She said: “One of the key challenges we’re looking to resolve over the next few months is transitioning to a cost-efficient but cost-reflective tariff.
“So the sector generates revenue required to attract private capital, while also protecting the poor and vulnerable.”
Last year, the federal government approved a threefold increase in electricity tariff for customers under the Band A classification.
The move to raise tariffs comes amid mounting pressure from Nigeria’s debt-burdened electricity distribution companies for tariffs to be cost-reflective so they can improve their finances.
Tinubu has already taken several steps to ease the burden on state finances and encourage private investment since taking office in May 2023, including removing subsidies on fuel.
While Nigeria, a nation of about 237 million people, has an electricity access rate of around 62%, an erratic grid supply limits productivity and disrupts daily life
For most women, the first sign of pregnancy is the absence of their monthly flow, but for 36-year-old Khadijah Aliu, who was recently arrested by the FCT Police Command for abandoning her day-old baby, her monthly flow never ceased till she carried her pregnancy to term.
So, after a pronounced divorce, she left behind four children she had for her husband in Makarfi Village in Kaduna State, determined to survive the pains of being rejected.
She made her way to Mpape Area in Abuja, where she once lived with her family. But a shocker awaited her: she discovered she was pregnant shortly after arrival in the Federal Capital Territory.
With no communication with her four children or any strong means of survival, she struggled through the pregnancy, delivered the baby herself and abandoned her at a spot where she could be seen easily. However, her action led to her arrest, while the baby was rescued.
Khadijah explained to the Sunday Tribune on what led her to such an act. She said that she left her husband’s house with almost nothing, save the little cash she could get after he declared a divorce in line with his belief. According to her, she and her husband had a bitter quarrel, and in addition to the harsh living condition she was in, she had to leave.
The FCT Police Public Relations Officer, SP Josephine Adeh, in a statement, had informed the public of the recovery of a day-old baby abandoned along a bush path near Crush Rock, behind an uncompleted Red Bricks Market, Mpape.
According to her, “On January 3, 2025, at about 10 am, police operatives from Mpape Division’s Juvenile and Women Care Section (JWC) responded to a distress call and found the baby wrapped in a cloth.
“The child was promptly rescued and taken to Mpape Primary Health Care Centre, where medical evaluation confirmed the baby is in stable condition.
“Following a tip-off from the community, the baby’s mother, Khadija Aliu, was arrested. During interrogation, she confessed to abandoning the baby, citing her inability to care for the child following her husband’s abandonment.”
The PPRO had added: “The FCT Police Command vehemently condemns this act of child abandonment and reassures the public of its commitment to protecting the most vulnerable members of society.
“The rescued baby will be handed over to the Department of Social Welfare for proper care, while the mother will face prosecution according to the provisions of sections 14 and 16 of the Child Rights Act (CRA) 2003 upon the conclusion of investigation.”
Khadijah told Sunday Tribune: “My father is from Gombe State while my mother is from Obubra, Cross River State. I met my ex-husband when I was living with my elder sister in Zaria, Kaduna State. We married about 12 or 13 years ago. I had four children before I gave birth to the last one that brought me into the situation I’m currently in. I was staying with my husband in his village at Makarfi, Kaduna.”
“I didn’t know I was pregnant even before the divorce. I was having my monthly period. We were always having problems with each other. It was an everyday quarrel and fighting, primarily because of money. He was not treating me well, and I asked him to give me my money [N9,000] with him, but he refused. I was doing menial jobs to get money to survive on.
“We started arguing. I tried to search his pocket if I would find money in it, but he threatened me that I would die. As my uncle-in-law’s wife called me and I turned, my man dragged and threw me off. We both fell and he was on top, he beat me and we started fighting. Other women came and rescued me from him. I stood up and he started cursing my mother. I insulted his mother in turn.
“He was very angry that I mentioned his mother’s name so he declared that he had divorced me. He left the house for some days. After selling my mattress and getting my money from him, I left the village for the place we were initially staying in Abuja. I left the four children I had for him because there was no way they would survive with me having nothing to feed them with. They are between three and 11 years old.
“I came back to the uncompleted building we once stayed in at Mpape. It was when I got there that I knew that I was pregnant. I used to have a kind of stomach pain. I noticed it and knew that I could be pregnant.
“As I fetched water for workers and made little money, I went to a hospital. After going through tests, I was told that I was pregnant. I was told to register in a clinic and go for ultrasound to know how many months the pregnancy was, but I didn’t have any money. I was used to not going to ante-natal clinic because my husband gave me money to do so for only the first pregnancy. I had the three children that followed by myself, with no assistance from anyone. I was the one who would bring out the baby, cut the umbilical cord from the placenta and clean the blood before calling anyone.
“This time also, I went through the delivery alone. I started having labour pains on January 1. The following day, it continued. I went to fetch firewood and returned. On my way back, I felt mucous coming out of my private part. I went to my room to lie down, and the labour pain increased, but I didn’t let anyone know.
“I dozed off but was awakened by pain. I took my kettle to go and urinate. I went to Bacha (wooden structure) where I kept my things, put pieces of cloth on the floor and started pushing until the baby came out. It was at about 12 noon.
“I covered the baby and went to my room to take pieces of rags and underwear to take care of the blood flow. Thereafter, I laid down and rested. I started crying uncontrollably. I wiped my tears, went for a razor blade and thread, cut the placenta and tied the end of the umbilical cord attached to the baby.
“I covered the baby up again, went to my room to rest, and started thinking about what to do with the baby, as I had nothing. I was only getting food that would just sustain me with the pregnancy. At night, I wore a cloth for the baby, gave her warm water, breastfed her. Later, I prayed for her, put her on my back and carried her to where I heard people talking.
“I laid her down, with the hope that one of them would see and take care of her. She woke up and started crying. I returned to my room but could not sleep. I was just crying. I thought of going back to carry her but I thought she must have been sighted by someone so I didn’t go. I later learnt that she was found the following day.
“I wanted to get something to eat when I heard the discussion about a baby abandoned. Then I knew that talk don burst. One of my neighbours and another woman came to me and said they noticed I was pregnant. I burst out crying and we wanted to go for the baby, but the woman who carried her had already taken her to the police station.”
Khadijah showered praises on the Divisional Police Officer who directed that she should be taken care of, saying: “The police officers would boil water for me in the morning and evening to take my bath. The baby was being given milk as I could not breastfeed her. I couldn’t contact the father as I didn’t have a phone, not to talk of money for transportation. I’ve not seen the four children that are in their father’s village also.”
She appealed to the government to give her a chance to have the baby back, promising to do her utmost best in taking care of her.
2025 budget: Obasa delaying Sanwo-Olu for three hours during presentation despicable — ‘Bode George
AFOLABI
Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has condemned the three-hour delay experienced by Lagos State Governor Babajide Sanwo-Olu when he arrived at the Lagos State House of Assembly to present the 2025 budget appropriation for passage into law.
The delay, orchestrated by the former Speaker, Rt. Hon. Mudashiru Ajayi Obasa, was described by Chief George as “despicable.”
Recall that Obasa was removed from office on January 13, 2025, through a majority vote by the 40-member parliament over allegations of financial misappropriation, misconduct, and high-handedness, among others. He was replaced by his deputy, Rt. Hon. Mojisola Lasbat Meranda.
Speaking at a press conference at his Ikoyi office, Chief George emphasised that Governor Sanwo-Olu remains the leader of the ruling All Progressives Congress (APC) in Lagos.
He questioned the rationale behind the governor being subjected to such a delay, asking, “Could he accept to go and read the budget and be delayed for three hours? Who is the leader?”
Chief George, who is also the Atona Oodua of Yorubaland, recalled his first and only encounter with former Speaker Obasa, describing it as pleasant and noting that Obasa had displayed Omoluabi (Yoruba virtue of respect and integrity) traits.
He said, “Why won’t they fight? The young man, former Speaker Obasa—I met him once at the airport. He came to me, greeted me with full respect, and behaved like an Omoluabi.
“I asked for his name, and he said, ‘Obasa.’ I exclaimed, ‘Ah! Speaker of the State Assembly!’ I called him Omoluabi, and he thanked me for honoring him. That’s Yoruba culture.”
“When we got down at Heathrow Airport, he carried my suitcase and my bag for me. That was my first impression of him. But of recent, what he did was despicable.
The governor of the state is the leader of the party because they both belong to the same party. Could he accept to go and read the budget and be delayed for three hours? Who is the leader? No matter that we have three arms of government, who is the boss?”
Chief George also reacted to Governor Sanwo-Olu’s claim that he had no involvement in Obasa’s removal, stating that the governor should not shy away from acknowledging his role.
He continued, “He should have his head, his hands, and stomach there [in Obasa’s removal], unless he is not the leader of the party.
“Why is he afraid to say it? Could Obasa accept that attitude from anyone if he were the governor? If it were a different party, that would be a different matter entirely,” he said
The Zone 2 Police Command, Onikan, Lagos State, has rescued a baby who was sold for N1.5 million in Lagos and later recovered in Owerri, Imo State, following a crackdown on a notorious child trafficking syndicate operating across the country.
The Assistant Inspector General of Police (AIG) in charge of the zone, Adegoke Fayoade, while addressing newsmen over the weekend disclosed that the operation was carried out through coordinated efforts with other security and government agencies.
The police also arrested eight suspects and recovered four other stolen children from different locations.
Represented by DCP Ajao, he identified that the eight suspects arrested as Ibezim Chioma Rita, Sunday Ochim, Sunday Okputu, Sunday Faith, Chinaza Echelibe, Ifekwuna Ngozi, Nwakuba Helen, and Bada Adeniyi.
According to the police, the syndicate specialised in stealing and selling newborns, toddlers, and children of different ages. Among those arrested was 22-year-old Faith Sunday, who sold her biological son.
Among the rescued children were one-year-old Marvellous Obi, Promise Ifekwuna, Somtochukwu Onyemaechi, Chibuzor Nma Onyemaechi, and Praise Chukwudi Ibezim.
The police detailed how the syndicate altered the children’s identities upon sale, changing their names to conceal their origins.
Revealing how Marvellous Obi was taken, the police stated, “There is a case of a baby, Marvellous Obi, who is one year old but was sold to Mrs. Ibezim Chioma when he was barely a week old.”
Similarly, they explained that “another case is that of one-year-old Somtochukwu Onyemaechi was painfully sold by his biological mother, 22-year-old Faith Sunday, to an unknown individual through Ibezim Chioma and the supplier, Sunday Okputu.”
The police further disclosed, “The baby was sold for N1,500,000 (one million five hundred thousand naira) to someone residing in Alausa, Ikeja, but was eventually recovered in Owerri, Imo State, on January 29, 2025.”
Faith Sunday, when confronted, admitted to selling her child but blamed her decision on financial hardship and her inability to provide for him. She claimed the baby’s father abandoned them, leaving her with no means of support.