FEATURES

Presidency, Obi clash over fuel subsidy, forex policies

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The Presidency and presidential candidate of the Labour Party, LP, in the 2023 elections, Peter Obi, clashed yesterday over the fuel subsidy removal and foreign exchange policies of President Bola Tinubu’s administration.

While Obi noted that both policies were haphazardly implemented by the government to plunge the country into economic crisis, the President accused Obi of being too desperate for power and lacked understanding of governance.

Although the former Anambra State governor agreed that the removal of fuel subsidy was necessary, he, however, quarrelled with the manner it was executed.

He also asked the Tinubu administration to account for the money saved so far from the removal of the subsidy and also show proof of its expenditure on such infrastructure as education, health and poverty reduction, as it claimed.

Recall that President Tinubu had, on his inauguration on May 29 2023, announced the removal of fuel subsidy and flotation of forex exchange, triggering the economic crisis the country had been facing, especially with regards to inflation and devaluation of the naira.

In an interview on Arise Television, Obi said while the removal of fuel subsidy was necessary, the policy should have been implemented in a “gradual and organised” fashion.

He said: “I have consistently maintained that I would have removed the fuel subsidy. If you go to my manifesto, it is there and the steps I would have taken in an organised manner.

“There is nothing wrong with the removal of the fuel subsidy. What is wrong is the haphazard way it was announced and implemented.”

He acknowledged that the subsidy regime was riddled with “criminality and corruption” and needed to end, but criticised the current administration’s approach, describing it as poorly executed.

Obi questioned the management of the funds saved from the subsidy removal, saying, “since we were told that we removed it because we don’t want to borrow and that the funds will allow for investments in critical infrastructure.

‘’Billions saved. Where is it? Where is it invested in critical areas of development? Everybody knows critical areas of development — education, health, and pulling people out of poverty. Have any of these three improved? No.’’

Obi said a fair pricing template should have been negotiated with stakeholders to cushion the impact on citizens.

He also addressed the decision to float the naira, saying the policy wasn’t inherently wrong but must be backed by economic productivity.

“There is nothing wrong in floating and devaluing your currency. You do this when you have productivity. In all of this, I would have done the same thing in an organised manner,” he said.

Since President Bola Tinubu’s announcement on May 29, 2023, ending the fuel subsidy, the price of petrol has surged from N190 to over N850 per litre. The administration also adopted a currency float policy, allowing market forces to determine the naira’s value.

Obi desperate for power, ignorant about governance — Presidency

But replying Obi yesterday, Special Adviser to the President on Policy Communications, Daniel Bwala, described the Labour Party’s presidential candidate as a ‘shallow’ personality who was not well grounded in issues of economics and governance.

Bwala, in a statement posted via his official X account, stated that he was surprised Obi could agree with the economic policies of President Bola Tinubu, especially on fuel subsidy removal and the unification of foreign exchange, but emphasised that it was obvious the former Anambra governor and other opposition figures were simply after taking over power, all the while.

He wrote: “Is anybody watching Peter Obi on Arise TV? He agreed with our policy of removal of subsidy and unification of the foreign exchange; he claimed he would have done it better than us in an ‘organised manner’

“He was asked what the ‘organised manner ‘ is.’ He played with words, yet to arrive at agreeing with us.
“Anybody with a rational mind knows these guys are just looking to grab power, but they don’t have any alternative agenda.

“He seems to have very shallow knowledge of economics and governance. Remember, this is even an interview anchored by a member of his Obidient movement.

“That’s why you don’t hear ‘I put it to you’ and no barking like a rottweiler; Yet ‘if it didn’t Dey it didn’t Dey.”

Petrol subsidy removal generates $84bn, 40 roads — NOA

In what seemed an account of receipt from fuel subsidy removal, the National Orientation Agency, NOA, weekend, said the federal government has so far generated $84 billion from the removal
The agency said the funds generated have enhanced the funding 40 critical road projects across the country in the past two years.

In its policy explainer, titled ‘’Two Years Later: Key Benefits of Subsidy Removal,’’ NOA, stated: “For decades, particularly since the advent of the current democratic dispensation, a major albatross of the federal government had been the oil subsidy regime.

“Successive administrations’ zeal to tame the menace had proved a fiasco while the economy continued to haemorrhage profusely. However, by 2015, many Nigerians had reached a consensus that it was high time the subsidy was consigned to the dustbin of history, as the subsidy budget in 2022 rose by 700 per cent to N4tn, the highest ever in subsidy history.

“Between 2005 and 2022, successive governments spent $84.39bn on fuel subsidies. These subsidies consumed over 70 per cent of potential federal revenue, pushing the country to the brink of bankruptcy.

But with the bold decision to remove it, Nigeria is now saving billions and investing in real infrastructure.

“Removal of subsidy not only saved the entire economy from imminent collapse, it also rescued several states of the federation from bankruptcy. Upon the take-off of this incumbent administration, Nigeria was spending 97 per cent of its revenues to service debts until its debt profile exceeded N100tn.

“Fuel subsidies consumed more than 70 per cent of the potential Federal Government’s revenue, forcing both the central and state governments to resort to heavy borrowings to finance their budgetary expenditures, but the removal helped the country to save billions.

“States now swim in inflows of funds, paying salaries as at when due despite more than 100 per cent minimum wage increase and drastically reducing their debt portfolios because subsidy removal puts more money into their hands.

“In 2023, the 36 states of the federation and 774 local government areas got a total of N6.16tn as FAAC allocations, implying a 28.6 per cent increase from the N4.792tn they received in 2022, but in 2024, revenues rose astronomically to N15.26tn as a result of subsidy withdrawal, giving the states and 774 LGAs N9.58tn, which was N3.42tn higher than what they received in 2023.

“Thus, as records from the Debt Management Office have shown, in the last 18 months, the total domestic debt profile of the 36 states and FCT had declined from N5.82tn in June 2023 to N3.97tn in December 2024. This implies that subnational administrations had repaid N1.85tn debts within one and a half years.

“As part of the gains of subsidy withdrawal, for the first time in decades, Nigeria’s capital expenditure in the 2025 Appropriation Act is higher than its recurrent annual spending. Successive administrations had always allocated 70 per cent of their annual budgets to recurrent spending, leaving only a paltry 30 per cent for the capital budget.

“However, the incumbent administration provides N23.96tn for capital expenditure in the 2025 budget. This is N10tn higher than N13.64tn for recurrent expenditure. The impacts of investments in road infrastructure have been the ongoing commissioning of 40 road projects in commemoration of two years of President Tinubu’s administration.”

[Vanguatrd]

Segun Sowunmi: I can work with Tinubu — he’s smarter than his opponents

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Segun Sowunmi, a member of the Peoples Democratic Party (PDP), says he can work with President Bola Tinubu.

On Sunday evening, Sowunmi, a former spokesperson for Atiku Abubakar, ex-Vice President and former presidential candidate of the PDP, visited Tinubu at his Lagos home.

Speaking on Channels Television’s ‘Politics Today’ about his visit to the president, Sowunmi said he asked Tinubu tough questions on the state of the nation.

“It is not a bad time to have a conversation with the president. I decided to engage him since people talk about his frailty. So, I jumped on that investigation,” he said.

“I have always said he’s smarter than his mates.

“His brain is very alert, he is fit. You know when you are asking someone questions and he answers without looking at the book.

“The privilege to engage with the number one citizen in office, even when I’m not in his party and I critique him, makes him superior to the others.

“I’ve been in this party forever. The only time we go to them is after they’ve lost and we need to shore them up. Do you know the difference between Bola and them? He doesn’t have one approach to dealing with everybody.”

He also defended Tinubu’s economic policies and expressed discomfort with the opposition’s tendency to demonise all government initiatives “without understanding the complexities involved in designing forward-thinking policies”.

“I just believe that there comes a time in the life of a nation where you must try to be sure whether the direction a leader is going is the right direction or at least whether it is the intended direction and I guarantee you, he is smart — above average,” Sowunmi added.

“There has never been a doubt that I can work with him. If I’m going to work with the president, I am going to leave the PDP.”

Sowunmi also said Abubakar “is running a coalition which everyone knows I’m not part of”.

[TheCable]

Audit flop: Nigeria forfeits $4m from World Bank loan

AFOLABI

The Federal Government is expected to lose $4m from a World Bank loan after failing to meet auditing standards on a key revenue reform covering the Federal Inland Revenue Service and the Nigeria Customs Service.

The fund formed part of the $103m Fiscal Governance and Institutions Project, a public financial management initiative financed through a credit facility from the International Development Association.

According to the World Bank’s restructuring paper dated June 2025, the revenue assurance audit covering the FIRS and Customs for the 2018 to 2021 financial years was assessed as not achieved because the reports submitted did not meet international auditing standards.

A World Bank document obtained by The PUNCH on Sunday read, “Revenue assurance audit of Main Income Generating Agencies, including the Federal Inland Revenue Service and the Nigeria Customs Service for FY 2018 – 2021 with an allocation of $4m.

“These Intermediate Results to be implemented by the Office of Auditor-General of the Federation were assessed as not achieved by the Independent Verification Agent because the reports submitted for verification did not meet the requisite international auditing standards.”

The failed audit was one of ten performance-based conditions under the project that the government could not deliver before the closing date of June 30, 2025. As a result, the Federal Ministry of Finance formally requested the cancellation of $10.4m in project funds.

“The FMF has requested cancellation of $0.9m of unused funds for Technical Assistance and $9.5m, which is the amount allocated to 10 Performance-Based Conditions, which will not be achieved by the close of the Project on June 30, 2025,” the document read.

The breakdown further shows that $4.5m was tied to the uncompleted Revenue Assurance and Billing System, while $1m was allocated to the development of a National Budget Portal.

According to the document, the Budget Office of the Federation, which was responsible for the portal, did not submit any evidence of achievement. In addition, $0.9m in technical assistance funding was left uncommitted and has also been cancelled.

The document read, “The proposed change is to cancel the $10.4m, constituting $9.5m for PBCs that will not be achieved and verified by the closing date, and $0.9m uncommitted funds from the technical assistance component.”

This latest adjustment follows an earlier restructuring in June 2024, when $22m was dropped from the original $125m envelope, bringing the project down to $103m. With the new cancellation, the total funding now stands at $92.6m.

The Fiscal Governance and Institutions Project, approved in June 2018 and effective from May 2019, was designed to improve the credibility of public finance and national statistics through reforms in revenue administration, budget transparency, and data systems.

Although the government missed key targets, the project recorded progress in other areas, including revenue performance. According to the World Bank, non-oil revenue outturn was 153 per cent of the budgeted target in 2024, up from a baseline of 64.9 per cent in 2018.

The bank attributed the increase to the unification of Nigeria’s exchange rate, improved tax administration via the TaxProMax system, and reforms that automated revenue remittances from ministries and agencies.

In addition, the government exceeded expectations in the publication of reconciled economic and fiscal datasets, achieving 10 publications against the project target of six.

However, capital expenditure execution remains below expectations at 50 per cent, short of the 65 per cent target, while project monitoring and evaluation were rated as moderately unsatisfactory.

Other areas of progress include the launch of the Electronic Register of Beneficial Owners by the Corporate Affairs Commission, which now covers about 40 per cent of registered businesses, and the publication of a National Asset Registry and financial reports by the Ministry of Finance Incorporated.

The final disbursement on the project is projected at $96.04m, which represents 93 per cent of the pre-cancellation total of $103m.

Defections: Hurricane Tinubu sweeps 12 more senators, Reps

AFOLABI

•APC courts four PDP govs, 10 A’Ibom NASS members to join Eno, two Edo, Nasarawa senators to quit SDP, LP

Ten National Assembly members from Akwa Ibom State elected on the platform of the Peoples Democratic Party and the Young Peoples Party have resolved to join Governor Umo Eno in the All Progressives Congress.

They join two senators from Edo and Nasarawa, Neda Imasuen and Ahmed Wadada respectively, in planned defections to the ruling APC.

This happened just as the ruling party admitted it was working to bring four other PDP governors into its fold despite accusations it was working to turn Nigeria into a one-party state.

Some of the Akwa Ibom senators and Reps members confirmed their intention to switch to the APC but declined to speak on record, citing the need to follow due legislative process.

The APC National Vice Chairman (South-East), Dr Ijeoma Arodiogbu, affirmed the lawmakers’ plan to defect to the ruling APC in an interview with The PUNCH.

The PDP lawmakers who have pledged allegiance to the APC are Senators Ekong Sampson (Akwa Ibom South) and Aniekan Bassey (Akwa Ibom North-East), and House of Representatives members Okpolupm Etteh, Paul Asuquo, Alphonsus Uduak and Ime Bassey. Others are Martins Esin, Unyime Idem and Mark Esset.

Emmanuel Ukpongudo, a member of the YPP, is also reported to have chosen to throw his lot in with the APC.

The development comes on the heels of the defection of Governor Eno to the PDP last Friday. He cited the need to align the oil-rich state with the government at the centre.

Eno followed in the steps of Delta State Governor Sheriff Oborevwori, who dumped the PDP for the APC in April.

Leading the APC delegation, which received Eno into his new party, was Imo State Governor and Chairman of the Progressive Governors Forum, Hope Uzodimma.

A video shared on the official APC X (formerly Twitter) handle captured President Bola Tinubu following the proceedings on TVC News, underscoring his keen interest in the event and emphasising his preparation ahead of the 2027 election.

Addressing party leaders and his supporters in Uyo, the Akwa Ibom state capital, last week, the governor said, “I have decided to progressively move to the APC. Our government has always been an inclusive government, which will never change.”

He added that his decision followed “three months of wide consultations” with critical stakeholders across the state.

“Today, fellow Akwa Ibomites, we are gathered here to witness change while equally affirming the constancy of our collective values and defining ethos as a state.

“For some time now, the political space, particularly in this state and the nation in general, has been awash with the news of my likely movement from the PDP, the platform that had provided the levers and ladder of my political ascendancy to the position of governor of this state.

“The discussions have elicited various layers of analysis in the process. Today, I am here to answer some of those nagging questions. Like the Dalai Lama had said, we should always be open to change, but not let go of our shared values.

“Earlier this morning, I submitted my formal letter of resignation from the PDP to my ward chairman, and same copy was sent to both the state chairman, as well as the national chairman. I have therefore decided to progressively move to the APC.”

However, unlike Governor Oborevwori, who defected with the entire Delta State PDP structure into the APC, the Akwa Ibom State governor only succeeded in convincing federal lawmakers elected on the platform of the PDP to join him in the APC and one from YPP as some of his appointees.

Three commissioners resigned from Eno’s cabinet, opting not to defect with the governor.

Eno’s political godfather and immediate governor, Udom Emmanuel, shunned the defection ceremony.

The PUNCH had earlier reported that Udom vowed to remain loyal to the PDP regardless of its state of affairs.

One of the lawmakers said they decided to follow Eno, not out of pressure whatsoever.

He said, “We left with the governor on June 6. When I say we, I mean all the PDP National Assembly members (from Akwa Ibom State), including one YPP member. We followed our leader to the APC.”

When asked if the defection was a result of any pressure, the lawmaker said, “There was no pressure from any angle.”

An aide to one of the lawmakers disclosed that their defection letters would be read by the Senate President, Senator Godswill Akpabio and House Speaker Hon Tajudeen Abbas, on the floor of the National Assembly when the federal lawmakers, currently on vacation, resume plenary June 17.

“They have decided to move with the governor. Of course, we know that formal activity will take place on the floor of the Senate. But they all resolved to join the APC.

“It is not just the two senators but the eight other members of the House of Representatives, who were until Friday members of the PDP.

“For a long time before now, both Senators Sampson and Bassey had affirmed they would move with the governor,” an aide shared.

In a similar vein, the Senator representing Edo South Senatorial District under the banner of the Labour Party, Neda Imasuen, has announced plans to defect to the APC June 12 as the potent Hurricane Tinubu sweeps more political bigwigs into the APC ahead of the 2027 election.

Imasuen hinged his action on what he termed “disarray” within the LP and the desire to better align Edo South Senatorial District with federal development priorities under President Tinubu’s Renewed Hope Agenda.

Speaking in Benin City to mark his second year in office, Imasuen, who is the Chairman, Senate Committee on Ethics, Privileges, and Public Petitions, said, “I will be leaving the Labour Party to the APC as the current disarray in the LP will not help me achieve my aim for my people. My movement will also help align Edo South with the Federal Government and bring development to our people.”

Also, sources close to Senator Ahmed Wadada, who represents Nasarawa West, say the lawmaker is also set to join the ruling party after he announced that he planned to exit the party.

The Social Democratic Party member’s decision stemmed from what he described as “irreconcilable differences” with former Kaduna State Governor Nasir el-Rufai, whose recent defection to the SDP reportedly stirred controversy within party ranks.

Wadada, while acknowledging his personal respect for el-Rufai, expressed deep concern over the ex-governor’s political style and questioned his ideological consistency. At a press conference in Lafia, Wadada made it clear that el-Rufai’s entry into the party marked a turning point for him.

“I cannot be part of a political platform where there is no ideological direction and where personal ambition overrides collective interest.”

A source close to the senator hinted that Wadada would join the APC soon.

“Even though he (Wadada) hasn’t officially made his next party destination public yet, there is a strong conviction among his followers that the senator is headed for the APC,” our source said.

The APC National Vice Chairman (South-East), Dr Arodiogbu, said nearly all Akwa Ibom State House of Assembly members have elected to defect to the APC, apart from a few “hesitant” ones who are being persuaded.

“For us, Akwa Ibom is now a clean sweep,” he stated. “The lawmakers are coming with the governor. We understand they must declare on the Senate and House floors, but they have already committed. And we are working on the few who have not responded positively.”

He further hinted that the defection momentum was spreading, noting that the party expected more governors from the opposition party to switch parties soon.

“We are expecting more PDP governors to join the APC. Talks are ongoing. Adamawa, Plateau, Osun, and Bayelsa are under serious watch.”

Arodiogbu dismissed speculations that the defectors were induced, insisting that their decision was voluntary and driven by what he described as the “visible success” of President Bola Tinubu’s Renewed Hope Agenda.

“No one is being coerced,” he said. “The achievements of the Tinubu administration are self-evident. People are simply aligning with progress.”

The defection of Governor Eno, now the second South-South PDP governor to join the APC after Oborevwori, marks a turning point in the regional political landscape.

The APC now controls 23 states, leaving the PDP with just 10, while the All Progressives Grand Alliance, the Labour Party and the New Nigeria Peoples Party each have one governor.

Who’s left?

The latest development has also put the spotlight on other PDP governors.

Governors Ahmadu Fintiri of Adamawa, Peter Mbah of Enugu, Caleb Mutfwang of Plateau, and Rivers’ suspended Governor Siminalayi Fubara are said to be under intense watch.

Reports that Fintiri recently met with National Security Adviser Nuhu Ribadu had fuelled speculations that he may succumb to the Tinubu political hurricane sweeping the landscape.

This happened against the backdrop of his strained relationship with the 2023 PDP presidential candidate, Atiku Abubakar, who is alleged to be his godfather.

Atiku recently reconnected with Fintiri’s 2023 rival, Aishatu Binani, further sparking rumours of a looming power shift in the state.

Bauchi, Zamfara, Taraba

Meanwhile, the PDP in Bauchi State has described Eno’s defection to the APC as a betrayal of his predecessor, who has continued to stand firm with the party.

It downplayed the significance of his action, noting that it did not reflect the party’s fate.

The state PDP Publicity Secretary, Dayyabu Ciroma, said Eno’s move to the APC was no surprise.

“Eno has been romancing the APC since his swearing-in. He has betrayed his predecessor, who supported him against other interests.”

He added that the PDP wasn’t wishing the governor well and predicted that the party would defeat him in the state come 2027.

When asked if the state governor would emulate his Delta and Akwa Ibom counterparts, Ciroma stressed that Bauchi has been a PDP stronghold since 1999 and would remain so.

“Our governor is a core beneficiary of the party, and we doubt he’ll defect to the APC. Bauchi will stay PDP, and we will deliver the party again in 2027,” he said.

Ciroma also expressed optimism about Governor Bala Mohammed’s potential presidential bid in 2027, saying, “We are hopeful he will defeat Bola Ahmed Tinubu.”

He concluded that there’s no cause for concern in Bauchi State, as the party would remain intact.

Also speaking on the likelihood of Taraba State Governor Agbu Kefas moving to the APC, the PDP asserted that the state remained firmly in the grip of the party, insisting that it would maintain its status as the only Northern state yet to be governed by any opposition party since 1999.

In a statement in Jalingo, the PDP state chairman, Alhaji Abubakar Bawa, dismissed rumours that Kefas might join the APC, describing them as baseless and politically motivated.

“Taraba State is the stronghold of PDP in northern Nigeria,” Bawa said. “While other states in the region have explored opposition parties, Taraba has remained a steadfast PDP bastion.”

He credited the party’s enduring dominance in the state to the performance of PDP leaders and its connection with grassroots voters.

He also hailed Kefas as a leader “who embodies the party’s values and commitment to public service.”

“Governor Kefas has shown exceptional leadership through the prompt implementation of the N30,000 minimum wage and the recent upgrade to N70,000. He has also cleared a 10-month salary backlog for PDP secretariat staff, reinforcing his loyalty to the party and its members,” Bawa said.

However, APC stakeholders in Taraba welcomed the ongoing realignments in national politics and welcomed Kefas, should he choose to join the ruling party.

Ambassador Ardo Hassan, a chieftain of the APC in Taraba, said, “The APC is big enough to accommodate everyone. If the Governor of Taraba is willing to join, he will be warmly welcomed.

“However, those defecting must understand that there were people in the party before they joined. They should come in with humility and cooperate with the existing leadership and grassroots supporters,” he added.

Political analysts say while the PDP remains dominant in Taraba, the increasing overtures by the APC could test the loyalty of key stakeholders in the months leading up to the 2027 elections.

Still, Bawa remains confident.

“Taraba’s loyalty to the PDP is a reflection of effective governance. We are not losing sleep over any rumour.”

Meanwhile, Governor Dauda Lawal of Zamfara State also vowed not to dump the PDP.

The Special Assistant to the Governor on Media and Communications, Mustafa Kaura, declared his principal’s stance in an interview with The PUNCH.

He was reacting to a taunt by the Minister of State for Defence, Bello Matawalle, who asked Lawal to end his “hide and seek” and join the ruling party publicly.

Matawalle, a former governor of the state and now a top member of the APC, made the comments during Sallah festivities in Maradun.

“Instead of hiding in the day and appearing at night, the governor should be bold enough to follow due process and join the APC like a true progressive,” Matawalle jibed.

But Kaura maintained that the governor has said it several times that he would not betray the electorate who voted him to power under the platform of the PDP.

He said, “Some people have been spreading rumours that Governor Dauda Lawal is planning to dump his party, the PDP and join the APC. There is no iota of truth in this; and as such, I want the PDP supporters to disregard this.

“Governor Dauda Lawal will remain in the PDP and has no intention of joining any other party. He is a true believer who believes in God and whatever God has destined to happen, must happen, no matter the party he belongs to,” Kaura pointed out.

Plateau

In reaction to reports that Plateau Governor Caleb Mutfwang was under pressure to leave the PDP, the APC chairman in the state, Rufus Bature, stated he is welcome to join the APC.

Asked if the party was wooing the governor, he said, “The APC, which I chair in Plateau State, I don’t think we have had cause to sit down anywhere to discuss that.”

However, when asked if he would like Mutfwang to join the APC, Bature cited the Nigerian Constitution, saying, “The Constitution of Nigeria allows freedom of association and freedom of speech. So, I cannot be the one to be seen as flouting the Constitution of Nigeria.”

Commenting on the matter, the state PDP Deputy chairman, Bitrus Golen, stated, “There is no need to sensationalise the issue because Governor Mutfwang has repeatedly said he remains a member and committed to the PDP and that has not changed, to the best of my knowledge as of today (Tuesday).”

More to move

In a related development, the Labour Party chairman in Edo State, Kelly Ogbaloi, lamented the exit of Senator Imasuen from the party.

Ogbaloi stated that the party persuaded Imasuen to remain with the LP but added that the lawmaker had his mind made up.

He said, “It is confirmed that Senator Neda Imasuen is moving to the APC, his new choice of party. We were consulted. We persuaded him and told him there was no need to do that, but it appears that he is very certain and does not intend to change his decision.

“Therefore, we are going to wish him success wherever he goes. It is painful that he has to leave us, but there is nothing the party can do to keep him.’’

The Secretary of the Edo APC, Lawrence Okah, said Imasuen’s defection was a testament to the good job the party, through the government, was doing in the state.

He stated that notable politicians would also move to the APC on June 12.

He said, “I will also tell you that other notable politicians will join the APC on that day, as we hope that more will join after June 12.”

Falana reveals those benefiting from Tinubu administration

AFOLABI

Foremost lawyer Femi Falana has said that the economic policies of the Tinubu administration only benefit the rich.

He said that while the policies improve life solely for the wealthy, the living standards of the masses have deteriorated.

Falana stated this in an interview with Channels Television on Monday, adding that many Nigerians are struggling to survive.

DAILY POST reports that some top officials within the All Progressives Congress, APC, celebrated the president’s second anniversary, claiming he has performed exceptionally well.

“For members of the government—and I’m talking of top officials—it’s been very rosy. One of them was singing a week ago that things are getting better.

“Of course, for the rich, the bourgeoisie, things are getting better. But for the masses of our people, things are getting tougher because they are going through an excruciating economic crisis,” Falana stated.

Some of the policies introduced by the president upon assuming office two years ago include the unification of the forex windows and the removal of fuel subsidy

Bandit leader, Turji demands N50m to allow farming in Zamfara, Niger communities

AFOLABI

Bandit leader, Bello Turji has reportedly threatened farmers around Zamfara state this rainy season.

According to security expert, Bakatsine in a post on his X handle, Turji said farmers can only ‘peacefully’ go to their farms after paying N50m tax.

This ransom is said to affect residents of Tsalaken Gulbi from Fakai village, Shinkafi LGA, Zamfara State. It extends up to Qaya near the Niger border.

It has become almost tradition for farmers around troubled areas in the North to pay a sort of safety tax to bandits before farming and during harvest.

However, previous reports confirmed that some farmers still lose their lives, even after paying the tax, while other times, they lose their farm produce to the bandits or both

'Things Tinubu must do to be greatest Nigerian President' - Analysts

AFOLABI

A popular Nigerian financial analyst and Chief Economist at SPM, Paul Alaje, has said if President Bola Ahmed Tinubu can tame inflation completely and fix electricity in the next two years, he would be the greatest Nigerian president.

Alaje made this known on Monday during an interview with Channels Television’s morning show monitored by DAILY POST.

Analyzing Tinubu’s administration in the last two years, he said the government had rolled out a few policies that have worked and others that didn’t.

According to him, the Tinubu government must completely tame inflation, which stood at 23.7 percent as of April 2025, as a major panacea to tackling the country’s economic hardship.

Similarly, he stressed that the government in the next two years should work to fix electricity, especially for manufacturers.

“After these two years, a few things have worked and another few have not worked.

“In the next two years, we should look out for how inflation can be tamed completely. That is the ultimate for the people. If the inflation is not tamed, no matter what is done, people will not feel the impact.

“Secondly, President Tinubu should start laying the foundation for electricity. When he became the president, I told him.

“When former President Muhammadu Buhari was in office for eight years, I told one of his former colleagues that the president can only be successful if he has a one-point agenda: fix electricity and link it to manufacturers. I am telling President Bola Tinubu the same thing.

“If you want your name to be in the sound of time, fix power and electricity. We will continue to remember him as one of the greatest presidents ever. Let power be available, especially for manufacturers,” he stated.

DAILY POST reports that in April, Nigeria’s inflation cooled off on a month-on-month basis despite skyrocketing market prices of goods and services.

Meanwhile, Nigeria is among the countries with the largest electricity access deficit, with around 13.2 million customers in a population of over 200 million grappling with about 5,000 megawatts of electricity supply nationwide.

17-year-old Lamine Yamal become World most valuable player - see full list]

AFOLABI

Barcelona winger Lamine Yamal has become the most valuable player in the world.

According to Transfermarkt’s latest valuation updates, the Spain international has dethroned Vinícius Júnior to become the world’s most valuable footballer.

This follows his outstanding performances for both club and country over the past year.

The 17-year-old now ranks ahead of five Real Madrid stars — Vinícius, Kylian Mbappé, Jude Bellingham, Federico Valverde and Rodrygo.

Mbappé and Bellingham are jointly valued at €180 million, placing them just behind Yamal in the overall standings.

Vinícius, meanwhile, has seen his valuation drop from €200 million to €170 million.

Most valuable players in the world at the moment:

Lamine Yamal – €200m

Jude Bellingham – €180m

Erling Haaland – €180m

Kylian Mbappé – €180m

Vinícius Júnior – €170m

Bukayo Saka – €150m

Pedri – €140m

Florian Wirtz – €140m

Jamal Musiala – €140m

Federico Valverde – €130m

Cole Palmer – €120m

Declan Rice – €120m

Alexander Isak – €120m

Rodri – €110m

Julián Álvarez – €100m

Michael Olise – €100m

Alexis Mac Allister – €100m

Phil Foden – €100m

Lautaro Martínez – €95m

Désiré Doué – €90m

Moisés Caicedo – €90m

Khvicha Kvaratskhelia – €90m

Rodrygo – €90m

Raphinha – €90m

Ousmane Dembélé – €90m

Transfer: Real Madrid ready to hijack Arsenal’s £51m move for Zubimendi

AFOLABI

Real Madrid are reportedly preparing a late move to hijack Arsenal-bound midfielder Martin Zubimendi, according to Marca.

The Gunners have been in advanced negotiations with Real Sociedad and have subsequently triggered Zubimendi’s £51 million release clause.

It is understood that only the medical remains before the deal becomes official, with all payment structures already agreed upon.

However, Real Madrid have made contact with Zubimendi’s representatives to ascertain whether the player has finalised an agreement with Arsenal.

It is claimed that the call from the La Liga giants has “changed everything,” with Zubimendi now aware of the possibility of joining them.

Real Madrid are now said to be considering a formal approach to Real Sociedad and are expressing a desire to sign Arsenal’s summer target.

Nevertheless, Arsenal remain confident they will secure their top transfer target, despite Madrid’s late intervention

Seven APC Governors Funding Coalition Against Tinubu – ADC Chieftain

AFOLABI

A chieftain of the African Democratic Congress (ADC), Dr Sani Dawop, said on Monday that about seven governors of the ruling All Progressives Congress (APC) have secretly been funding an opposition coalition against President Bola Tinubu ahead of the 2027 general election.

Dr Dawop dropped the hint in an interview with Trust TV News.

Former Vice President Atiku Abubakar, the presidential candidate of the Labour Party in the 2023 election; Mr Peter Obi, a former Kaduna State Governor; Nasir El-Rufai; and a former Transportation Minister, Rotimi Amaechi, are spearheading the coalition.

Incidentally, the coalition is reported to be in talks with the ADC, with a view to securing the platform to challenge Tinubu in the next election.

“There are about six to seven APC governors who are funding the coalition. Go and check and go and do your investigation,” he said.

The ADC chief likened the ongoing realignments in the political space to when a breakaway group in the Peoples Democratic Party (PDP) in 2013 joined other parties to form the APC that eventually routed the PDP in the 2015 presidential election.

“That is exactly what happened when the nPDP now joined APC in 2015. You understand?” he said, stressing that alignments and group interests are a constant feature in Nigeria’s multiparty system.

“In a political arrangement, you are free to have group interests. And that’s what you are talking about in PDP. You have the Atiku group, you have the Wike group and the others. The same thing with even the APC. You have the CPC group. You have the AD, which later became the ACN group. That’s the Tinubu group. They are still there. So those blocs are still there in politics.”

Dawop further said internal power blocs are not unusual and are often part of broader political strategies.

“It is part of the strategy in politics. You don’t release all your arsenals on day one. You have to keep some for the strategic moments, then you strike.”

“There are lots of issues that are happening that even within the APC, there are those who are not happy with the way things are going,” he emphasised

The ADC chieftain also criticised what he described as a lack of internal democracy among political parties and called for a fair political environment in future elections.

“You should provide a level playing field. That is a democracy. Let even people contest with the president.

“When Tinubu became president and won the ticket in the APC, he contested with other people. So if anybody feels so desired, those that are in APC that want to contest – that’s their own business anyway; they can go and contest, you understand.

“But they should allow a level playing field for those who are interested. The endorsements can go on. But I don’t think people should be suppressed; people should be denied the opportunity to contest, even with a sitting president, except if nobody shows interest. That is understandable.”

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Stay Away from June 12 Protest - Ohanaeze Faction Tells Ndigbo

AFOLABI

A faction of Ohanaeze Ndigbo Worldwide has declared that the people of the South-East Region of Nigeria would not participate in the nationwide Democracy Day protest scheduled for Thursday, June 12.

This was contained in a statement issued by its Deputy President General, Mazi Okechukwu Isiguzoro.

He said that the decision stemmed “from a deliberate and strategic resolve to protect the lives and property of Ndigbo across Nigeria”.

According to the release, “No protests will be permitted within the South-East region until the Nigerian government meaningfully addresses the long-standing and legitimate concerns of the Igbo people”.

The statement added, “We wish to convey a crucial, and perhaps uncomfortable, truth to the organizers of these national protests. There exists a broad consensus among Ndigbo rejecting participation in any form of protest—whether within the South-East or in other parts of Nigeria where our people reside.

“It is also important to bring to public attention credible reports of a covert plot reportedly brewing in Abuja, Kaduna, Maiduguri, and Lagos. This plot, allegedly orchestrated by unpatriotic politicians and anti-democratic elements, seeks to hijack the protests as a means to destabilize President Bola Tinubu’s administration, while falsely projecting the Igbo as instigators or enemies of the state.”

Isiguzoro explained that past experiences had shown that “during moments of national crises, Igbos have too often been scapegoated, unjustly targeted, and sacrificed at the altar of political expediency”.

He added, “In addition to these historical injustices, the current climate of insecurity ravaging the South-East makes the staging of any mass protest not only ill-advised but dangerous. Ndigbo will not take part in any national protest until our critical demands are met—chief among them, the immediate release of all Igbo prisoners of conscience unlawfully detained across the country.”

Ohanaeze Ndigbo, in the release, reaffirmed its commitment to peaceful dialogue and constructive engagement with the Nigerian state but “warned against any attempt to exploit national protests to further marginalize or endanger the South-East”.

APC threatens to sanction Ndume over endorsements comment

AFOLABI

The All Progressives Congress has cautioned former Senate Chief Whip, Ali Ndume, over his recent comments warning that ex-President Goodluck Jonatha’s treatment awaits President Bola Tinubu in 2027.

The party said while it allows differing opinions, it also has established procedures for disciplining members who engage in misconduct.

APC’s Director of Publicity, Bala Ibrahim, stated in an exclusive interview with our correspondent on Monday that the ruling party is open-minded and welcomes a variety of viewpoints without conflict.

On Sunday, Ndume expressed fear that an upset awaited the President at the next poll if he failed to learn from the shocking defeat of Jonathan in 2015.

Ndume gave the warning when he was featured as a guest on Sunday’s edition of Channels Television’s Politics Today.

In the 2015 presidential election, Jonathan contested under the Peoples Democratic Party but was defeated by the APC candidate, Muhammadu Buhari.

The former military ruler secured 15,424,921 votes, while the then-president received 12,853,162 votes, placing second.

The election was historic as it marked the first time a sitting president lost a re-election bid in Nigeria.

“Tinubu could be given the Jonathan treatment because Jonathan also had 22 governors who endorsed him like we do now. And what happened? Jonathan lost woefully,” Ndume said.

The lawmaker feared history could repeat itself if Tinubu failed to address what he described as “crippling economic hardship” and a growing wave of public discontent.

According to the Borno South lawmaker, the mass endorsements and public support seen within the APC may offer a false sense of security that could unravel at the polls, just like in Jonathan’s case.

“We are not learning our lesson. I pity Mr President. Even though he once said this is not the time for campaigns, look around, the campaigning has already started under the guise of endorsements,” he said.

The senator warned against becoming complacent, especially amid reports that certain APC leaders were advocating automatic tickets for sitting lawmakers.

He cautioned that such actions could distance the party from its grassroots supporters and loyal members, whose backing was essential for any electoral success.

“When the rumour came that National Assembly members might get automatic tickets, the party denied it. So who will be the foot soldiers? You cannot rely on governors alone,” he said.

Although Ndume spoke firmly, he did not entirely dismiss Tinubu’s prospects.

He suggested a way forward, calling on the President to take prompt action and introduce policies focused on improving the well-being of ordinary Nigerians.

“There’s still time to turn things around. The suffering we’re talking about is just within two years.

“If in the next two years the President can make Nigerians happy—really happy—then nobody will contest against him,” he said.

In response, the APC Director of Publicity referred to Ndume as a respected leader within the party and stated that the ruling party was open to differing opinions, provided they aligned with progressive social and political ideals.

He stated, “As you are aware, Senator Ndume is a senior and respected member of the APC. This is not the first time he has made public his opinion about the way and manner the country is being governed by his party, sometimes expressing dissent or contrary views.

“But because the APC is a party of liberal-minded people, it doesn’t quarrel with diverse ideas, provided they do not violate the party’s constitution.

“It is a progressive party that is tolerant of people’s different perspectives, as long as they are perspectives that are inclined to progressive social and political changes.

“The party respects others’ beliefs and advocates for reforms that promote freedom and equality.

“But, they must be done in a manner that is not injurious to the laid down rules of acceptable behaviour. If they go contrary, the party has a machinery for censorship or punishment, which are beyond my powers as a director.”

Lagos alternative power boom exceeds national grid capacity – Report

AFOLABI

Off-grid and self-generated electricity in Lagos State has surpassed Nigeria’s entire grid-connected capacity, a new report by the Africa Finance Corporation has revealed, raising concerns over the growing energy access crisis in the country.

It also stated that if current trends persist, the number of Africans without electricity access could stay unchanged between now and 2030.

The report, titled ‘State of Africa’s Infrastructure Report 2025’, and obtained by our correspondent on Monday, noted that the continent is trapped in an energy bottleneck, with more Africans at risk of remaining without electricity by the end of the decade unless urgent action is taken.

The latest development, however, contradicts plans by the World Bank, the African Development Bank, and other partners to connect 300 million people to electricity in sub-Saharan Africa by 2030. Both institutions have committed to spending $40bn to accelerate development and reduce poverty on the continent.

Nollywood Stars Lateef Adedimeji and Femi Branch Grace Ojude Oba 20250:00 / 0:00

Nollywood Stars Lateef Adedimeji and Femi Branch Grace Ojude Oba 20250:00 / 0:12

The programme aims to combine grid expansion, off-grid solutions, and policy reforms to bridge Africa’s growing energy divide.

But the AFC in its report said the goal may not be achieved, as a significant portion of power generation in Africa’s biggest economies, Nigeria and South Africa, now happens outside the national grids, through off-grid, embedded, and captive systems.

The report read, “A growing share of generation is now occurring outside the grid, through off-grid, embedded and captive power systems, particularly in Africa’s largest economies, Nigeria and South Africa.

“These developments reflect not only market innovation but also the continued inability of centralised systems to meet rising urban and industrial demand. In Nigeria, unreliable public supply has pushed millions of households and firms to rely on petrol and diesel generators.”

It asserted that in Lagos alone, off-grid capacity is estimated at more than 19 gigawatts, higher than the total national grid output, which struggles to deliver 4 to 5 gigawatts consistently.

“Recent spatial data studies by SEforALL suggest that off-grid generation capacity in Lagos State alone could exceed 19GW, surpassing Nigeria’s entire grid-connected generation capacity.

“Captive generation is especially widespread among industrial and commercial users, with large enterprises investing in dedicated diesel and gas-fired power plants. This reflects not only market innovation but also the continued inability of centralised systems to meet rising urban and industrial demand,” the report added.

Across Nigeria, erratic public supply has forced millions of homes and businesses to rely on small petrol and diesel generators. Among large industrial and commercial users, captive generation, where companies build their own diesel or gas power plants, has become widespread.

The AFC said the trend is not limited to Nigeria. In South Africa, a 2022 policy shift that removed licensing requirements for embedded power generation triggered a boom. By the end of 2023, registered capacity jumped from just 23 megawatts in 2019 to 4.5GW, driven mainly by private sector investment. In 2024 alone, over 1GW of private solar capacity was added.

Despite the scale of these developments, official statistics fail to capture the full extent. While solar rooftops attract global attention, thermal generation, which accounts for a large chunk of industrial self-generation, is often ignored.

Captive plants serving mines, cement factories, or industrial estates can range between 20MW and 200MW per site. The report warns that while the proliferation of off-grid power may appear like progress, it is a symptom of deeper systemic failure.

“Estimates from local industry groups suggest that more than 1GW of private solar capacity was added in 2024 alone. Despite their scale and significance, these trends remain poorly captured in official statistics. Global data often focuses on off-grid renewables, largely solar rooftops, while thermal generation, a large component of industrial self-generation, is rarely tracked.

“Yet thermal installations matter: captive plants serving mines, cement factories, or industrial parks can range from 20MW to 200MW or more per site, representing substantial capacity additions. Importantly, the rise of off-grid and captive power underscores a deeper systemic failure. Going off-grid is not always the low-cost solution, it is a last resort

“A 2019 study by the Energy for Growth Hub found that, once reliability is factored in, self-generated power costs roughly twice as much as grid electricity in Nigeria and South Africa, and up to four times more in Ethiopia. These high costs erode industrial competitiveness and highlight the economic penalty of inadequate grid investment,” it stated.

It noted that rather than an ideal outcome, the boom in self-generation should be viewed as a market signal, a clear indication of suppressed demand, investment potential, and the urgency of expanding reliable grid access.

“Going off-grid is not always a low-cost solution, it is often a last resort,” the report noted. These high costs erode industrial competitiveness and underscore the economic penalty of underinvesting in grid infrastructure.

“To correct course, Africa can tap into the world’s most underutilized energy resource base. The continent is home to the largest untapped hydropower potential, the largest conventional geothermal reserves, and receives some of the highest solar irradiation globally.

“The pipeline of planned generation projects reflect this potential and is evolving towards a greater mix of renewables and gas. But these resources remain largely stranded due to weak infrastructure and limited investment, turning abundance into constraint.”

The report also warned that Africa’s sluggish energy growth is fast becoming a threat to the continent’s development ambitions.

Between 2013 and 2023, electricity generation across the continent grew by less than 2 per cent annually, far below population growth (2.42 per cent) and economic growth (3 per cent).

For the first time in two decades, per capita electricity consumption is declining, a signal of crisis, not just in access but in the capacity to scale. Comparatively, other regions have made significant progress: the Middle East and Asia-Pacific posted annual electricity generation growth of 3.8 per cent and 4.5 per cent, respectively, during the same period.

In 2024, Africa added just 6.5GW of utility-scale power, a third of India’s 18GW renewable additions, and far behind the 48.6GW added by the United States.

“Africa’s electricity generation is expanding, but not at the pace required to meet the continent’s rising demand. The energy shortfall is the single biggest constraint on economic transformation and the continent’s most underappreciated investment opportunity,” the report stated.

Despite being home to the world’s most abundant untapped energy resources, from hydropower and geothermal to solar, these assets remain largely stranded due to weak infrastructure and underinvestment.

Without a dramatic scale-up, experts warn, the region risks becoming trapped in a “low-energy equilibrium”, a state where electricity access figures appear to improve, but the volume and reliability of supply remain too poor to support meaningful growth.

Yet, the Africa Finance Corporation report warns that without decisive investment in large-scale, affordable and reliable grid infrastructure, such efforts may only provide temporary relief.

“Taken together, these trends suggest that Africa is not merely experiencing a stagnation in electricity access but a deterioration in meaningful energy consumption. While connection figures have improved in some markets, the volume and reliability of supply remain insufficient to support a sustained structural transformation.

“Without a significant increase in investment, both in generation and in supporting infrastructure, the region risks entrenching a low-energy equilibrium

that could undermine future growth and development. If current trends persist, the number of Africans without electricity access could stay unchanged between now and 2030,” it stated.

As power demand continues to rise alongside urbanisation and industrialisation, the choice before African leaders is now stark: either scale up or fall behind

My deal is for Tinubu, Otti to support each other, I’m not into coalition talks - Orji Kalu

AFOLABI

Uzor Orji Kalu, the senator representing Abia north, says he is not well disposed to the coalition talks by the opposition parties to unseat President Bola Tinubu in 2027.

Speaking when he visited Alex Otti, governor of Abia, Kalu said his deal is for the president and Otti to support each other.

Otti is the only governor elected on the platform of the Labour Party (LP) in the 2023 elections.

“I’m not into coalition talks… My deal is for Tinubu and Otti to support each other,” the former Abia governor said.

Kalu also spoke of his relationship with Nasir El-Rufai, former governor of Kaduna, describing him as a “personal friend and brother”.

“El-Rufia is my personal friend and brother, so their condition is what I do not understand. What I understand is that APC is on course, and I have many triggers to pull out,” he said.

“Otti doesn’t have a problem with me. I don’t want to talk of a coalition; I talk about Otti supporting Tinubu and Tinubu supporting Otti. That is my deal.”

On April 16, el-Rufai dumped the All Progressives Congress (APC) for the Social Democratic Party (SDP), noting that the Tinubu administration is the “worst and most corrupt” in Nigeria’s history.

He also described the government as the most intolerant since Nigeria returned to civil rule in 1999.

“This is the worst federal government in Nigerian history, and all the indices have shown it,” el-Rufai had said in Katsina