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Hellen Mutimu, who alleges that she has a child with businessman Okechukwu Pascal, popularly known as Cubana Chief Priest, has expressed gratitude to singer Burna Boy for fulfilling his promises to support her and her son.
In a video shared on her Instagram page on Sunday, January 12, Hellen, visibly emotional, disclosed that Burna Boy had kept his word.
She said she had submitted all the necessary documents to an individual instructed by the singer and shared her mixed feelings of gratitude and relief.
Hellen had previously claimed that she and Cubana Chief Priest were involved in a sexual encounter three years ago, resulting in the birth of her now two year old son.
Her appeal for help gained traction after a video surfaced of her asking Nigerians for assistance due to her dire financial situation.
Last week, Burna Boy and Cubana Chief Priest engaged in a heated exchange on social media, during which the Grammy-winning artiste intervened in Hellen’s plight.
Burna Boy vowed to provide her with accommodation, employment, and access to education for her son. In his words:
“We will relocate you to Nigeria, give you shelter, put your son in school and give you a job.
“Also, by the grace of GOD, @burnaboyfootballacademy will build him into a football star. @luckyudu pls find her contact for me.”
Hellen’s story and Burna Boy’s intervention have sparked widespread reactions on social media, with many applauding the singer’s humanitarian efforts amidst the ongoing controversy surrounding her allegations against Cubana Chief Priest. Watch Hellen speak below:
VIDEO: Kevin Ikeduba, Rita Edochie, others react as Pastor strips members in church during prayer
AFOLABI
Veteran Nollywood actor, Kevin Ikeduba worries the internet with yet another unbelievable video as he often does.
Known for sharing weird clips to amass followers’ attention, he shared a video of a pastor praying for 2 members in front of congregants.
In the clip, the individuals who appeared to be seeking healing bent with their buttocks facing the pastor who in turn prayed for them, assuring them of an instantaneous miracle.
Following the short prayer, they were made to stand again as a worship song began and they joined to glorify God, believing they had been healed of their infirmity.
Sharing the video, Kevin Ikeduba wrote:
“In other news…If Man was god???This page does not support Nonsense ?.”
As expected, the clip sparked a lot of comments from netizens who were in awe over such a procedure for divine healing.
Check out some comments below:
Media
Nigerian Afropop singer Akinmayokun Awodumila better known as Mr May D has cleared the air on his highly publicised fallout with the now defunct Psquare group and Square Records.
The singer joined Square Records in 2011 but left the label on August 21, 2012, over internal disputes.
In a snippet of an unreleased episode of the Honest Bunch podcast, the 40-year-old artiste implied that their short-lived relationship was because the Psquare twin brothers cost him a deal with Akon.
The singer said his troubles with Psquare began when he was left out of the music video shoot for the remix of ‘Chop My Money’ which featured the American-Senegalese artiste Akon.
May D revealed that Akon had refused to shoot the video without him, adding that he eventually had to travel to America to participate in the shoot.
He said Akon had offered him several deals and promised to fly him back to America. He said, however, that when he returned to Nigeria, he made the mistake of sharing the details of his conversation with Akon with the Psquare brothers.
May D said Psquare had initially been hesitant to sign him to their label and instead offered to help him as they had done with artistes like J Martins and Bracket. However, he said after he informed them of Akon’s offers, their relationship began to deteriorate. In his words:
“Initially, they did not want to sign me. They were just like let us help you the way we helped J Martins and Bracket. When we went to shoot ‘Chop My Money’ video, I was in Nigeria, they had gone to shoot the video. Akon did not show up till I came to America, he was like he wanted me to be in the video.”
“I was wondering Akon jumped on ‘Chop My Money’ and they were like yes he did. So I have to be in America for the video because Akon said if I am not in America, he is not going to shoot the video.
“When I got to America, Akon called me to his office and was like ‘Guy I have many deals for you, when you get back to Nigeria, call me. This is my number, I will book you a flight, you will come back to America’.
“He asked if I had any deal with these guys, I said no. He said ‘I am not going to say anything, when you get to America we will talk’.
When I got to Nigeria, as an honest and clean guy, I told Psquare because they were the ones who carried to me there. If I had known, I would not have told them.”
Singers Adekunle Kosoko, aka Adekunle Gold, and his wife Simisola Kosoko, alias Simi, are celebrating their sixth wedding anniversary on Monday, January 13, 2025.
Simi, obviously jubilant about the new milestone admitted that six years after marrying Adekunle Gold, he still makes her to laugh. She added that he is the best man she knows and he is still the one for her. The mother of one wished her husband a happy wedding anniversary and noted that she loves him.
The songstress further shared some beautiful old pictures to celebrate their special day.
To mark their sixth wedding anniversary, Simi shared a 15-in-1 post ranging from a picture of their wedding day in black and white hue and when she was pregnant with Adejare. In another, she and Adekunle Gold were cozy at the beach.
Another fun video clip saw the 35-year-old showing the afrobeats star vibing to music while stating in the background that he is creating content to make money for their daughter’s school fees.
Adekunle Gold, four-year-old Deja and Simi also had a race competition in another clip. The couple had other memorable moments to share with their fans and Simi ensured that she posted them. Simi captioned the post:
“6 years.
You still make me laugh.
You’re still the best man I know.
You’re still the one ?
Happy Anniversary Baby. I love you.”
Their colleagues and fans took to the comments to with the couple a prosperous sixth wedding anniversary. See post and reactions to it below:
Oyo State Governor, Seyi Makinde, has revealed that he met the new Alaafin of Oyo, Oba Akeem Abimbola Owoade, for the first time on Sunday, January 12, 2025.
He made this known on Monday, during the presentation of the staff and certificate of recognition, which took place at the Oyo government house in Ibadan.
Recall that on January 10, Makinde announced Owoade as the new Alaafin. However, some members of the Oyomesi rejected his appointment, arguing that the Alaafin should be chosen according to the 1967 Chieftaincy Declaration, not through consultation or divination as Makinde stated.
His words: “The Alaafin stool is very important not just to Oyo Town or Oyo State but the entire Yoruba race. So, under my watch, I made it very clear that the stool would not be for sale. It is not a stool for us to toil with.
“I met Prince Owoade for the first time in my life yesterday. I never spoke to him in my entire life until yesterday. I did not know his profile or the profile of any of the princes vying for the stool, and it was deliberate, because I did not want my opinion to influence the process.
“Let me say this clearly: when we came in 2019, we had challenges with the traditional institution in Ibadanland and it has been resolved to everybody’s satisfaction.
“When it was time for us to approve the selection of Okere, some people came to me and said ‘This is our friend’. They said one person is APC and I said it does not mean anything to me whether you are PDP or APC. Why should my decision be based on political consideration? So, I approved the selection of the Saki kingmakers.”
I Started Charging My Clients In Dollars In 2005 – Nigeria Music producer and songwriter, Cobhams Asuquo
AFOLABI
Renowned music producer and songwriter, Cobhams Asuquo, has disclosed that he started charging his clients in dollars when he was 24-years-old.
Asuquo stated that the bold step which he took as far back as 2005 was a career-defining moment for him.
Speaking during an interview with Pulse TV, he explained that he decided to transact in a more reliable currency because he recognised the value of his craft and a desire for financial stability.
He said, “I am one of the few producers who started charging in a different currency for the purpose of stability.
“As far back as 2005, I began to peg my charges in dollars because I felt it was a stable thing to do. I was obviously getting signed and getting things going, and I needed to be able to transact in that space.”
Cobhams noted that his decision was pioneering, as he was unaware of any other producers charging in dollars at the time.
He attributed this bold move to his early realisation of his worth.
“I hear music producers charge now in dollars, and I say to myself, I started doing this in 2005 when I was just 24. I didn’t know anybody else who was doing that at the time.
“That’s me waking up to the value of my work,” he stated proudly.
He also emphasised his commitment to delivering top-quality work, humbly stating, “Till tomorrow, I cannot promise that what I will give you is the best in the world, but it’s the best I can give you—and it is very well close to the best in the world.”
The Oyo State Government, led by Governor Seyi Makinde, has announced Abimbola Owoade as the Alaafin-designate, bypassing the selection process led by the Oyomesi, Oyo’s traditional council of kingmakers.
Naija News understands that this move, announced on Friday, has sparked widespread criticism and deepened tensions over the vacant stool of the Alaafin, a revered Yoruba traditional title.
The position of Alaafin became vacant following the death of Oba Lamidi Olayiwola Adeyemi III on April 22, 2022.
The Oyomesi, entrusted with selecting the next Alaafin under the Alaafin of Oyo Chieftaincy Declaration of 1961, began the selection process after receiving approval from the Atiba Local Government in August 2022.
After screening 82 aspirants from the Agunloye Ruling House, the Oyomesi unanimously selected Lukman Gbadegesin, a grandson of Alaafin Bello Gbadegesin (1956–1966), on September 30, 2022.
The Atiba Local Government communicated this decision to the governor on October 4, 2022, as mandated by Section 20 of the Chiefs Law of Oyo State.
The law provides a 21-day period for objections to be filed by dissatisfied aspirants or ruling houses.
However, no petitions were submitted within this period. A subsequent legal challenge by a dissatisfied aspirant was dismissed by the Oyo State High Court on December 19, 2022, which upheld the validity of the selection process.
During the legal proceedings, the state government defended the Oyomesi-led selection process, further solidifying its legitimacy.
Despite these developments, Governor Makinde withheld his approval of Gbadegesin’s appointment for over a year.
On January 10, 2025, he announced Abimbola Owoade, another member of the Agunloye Ruling House, as the Alaafin-designate.
This decision has been widely criticised as a breach of the 1961 declaration, which grants the Oyomesi, led by the Bashorun of Oyo, exclusive authority to select the Alaafin.
The Oyomesi rejected the governor’s appointment, accusing him of undermining tradition and legal provisions. Two members of the council had previously attempted to withdraw their support for Gbadegesin, alleging bribery, but no evidence was provided to substantiate these claims.
Owoade, the governor’s choice, is also from the Agunloye Ruling House and traces his lineage to Prince Owoade, a younger brother of Alaafin Siyanbola Ladigbolu (1911–1944).
While his royal heritage is acknowledged, critics argue that the governor’s unilateral appointment sets a dangerous precedent.
According to Premium Times, here are the breaches in the selection of Owoade:
No Official Petition: The governor received no official petition from dissatisfied aspirants or ruling houses within the legally mandated period. The two Oyomesi members who later opposed the selection lacked the basis to challenge the process, according to the law.
Disregard for Court Ruling: The December 2022 court ruling affirmed that the customary law guiding the selection of the Alaafin does not require consulting the Ifa oracle. However, in a widely circulated video, Yoruba scholar Professor Wande Abimbola claimed the governor engaged him to consult Ifa in selecting the new Alaafin, allegedly violating the court’s ruling.
Usurpation of Oyomesi’s Powers: Despite an earlier selection by Oyomesi, the governor hurriedly convened his own selection meeting, including two warrants chiefs, and appointed a candidate for the prestigious throne.
Hours after Mr Owoade’s selection was announced, the Oyomesi declared their rejection of the appointment and sources close to the chiefs said they are approaching the court to set aside Mr Makinde’s action.
Seyi Makinde, governor of Oyo, has presented the staff of office to Abimbola Owoade, the new Alaafin of Oyo.
The presentation of the staff and certificate of recognition took place at the Oyo government house in Ibadan.
On January 10, Makinde announced Owoade as the new Alaafin of Oyo.
Dotun Oyelade, Oyo commissioner for information and orientation, had said the governor approved Owoade as Alaafin following the recommendations by the Oyomesi (kingmakers).
Shortly afterwards, some members of the Oyomesi rejected the appointment of Owoade as the new Alaafin.
They argued that the occupant of the stool is chosen in compliance with the registered Alaafin of Oyo Chieftaincy Declaration of 1967, not by consultation or divination as stated by Makinde.
The kingmakers in the faction include Yusuf Akinade (Basorun), Wakeel Akindele (Lagunna), Hamzat Yusuf (Akinniku), Wahab Oyetunji, warrant chief standing in for the (Asipa), and Gbadebo Mufutau, warrant chief standing in for (Alapinni).
They added that only the Bashorun, head of the Oyomesi, can convene a meeting to elect an Alaafin, arguing that any meeting convened by Makinde was null and void.
Ibadan stampede: Court grants N10m bail each to Naomi Silekunola, Oriyomi Hamzat, School Principal
AFOLABI
The Oyo state high court has granted bail to Naomi Silekunola, ex-wife of the Ooni of Ife; and Oriyomi Hamzat, CEO of Agidigbo FM.
The duo, alongside the principal of the Islamic High School, were each granted bail in the sum of N10 million and two sureties in like sum.
The trio are standing trial over their alleged roles in a stampede at a funfair in December, which claimed the lives of over 30 people, most of them children.
The defendants were remanded at Agodi correctional centre on December 24 after being charged with four counts bordering on conspiracy, negligence causing harm, and failing to provide adequate security and medical facilities.
MAGISTRATE COURT HEARING
At the resumed hearing of the case at the magistrate court, Iyaganku Sikiru Opaleye, the prosecutor, told Olabisi Ogunkanmi, the chief magistrate, that the state department of public prosecution (DPP) has found the defendants guilty and that they have a case to answer.
The court ruled that an appeal be filed and taken formally at the high court since the magistrate court lacks the jurisdiction to hear the case.
Ogunkanmi explained that if the appeal is heard at the high court, the defendants will appear to have the case struck out at the magistrate court.
She subsequently adjourned the case to January 27 at the behest of Abdulfatai Oyedeji, counsel to Abdullahi (third defendant) for mention.
Oyedeji said at the next hearing, “the three defendants will appear, their appeals will be taken and from there, the battleground will shift to the high court”.
He said if the defendants had been present in court, their appeals may have been taken today.
“They have to be here physically to take their appeal whether guilty or not guilty before we move to the second phase of the battle,” he said.
Nigeria’s entertainment industry has become one of the nation’s largest skill exports globally, thanks to its thriving music, film, and fashion sectors.
The entertainment industry comprises Nollywood, the Afrobeat sector, broadcast shows, comedy, digital productions, fashion, and beauty.
These industries have not only captured the attention of international audiences but also established Nigeria as a cultural powerhouse, influencing trends, styles, and sounds worldwide.
Despite challenges like inflation and naira devaluation, the industry remains resilient and has grown to be valued at over $10 billion according to Ben Bruce, Founder of SilverBird Group.
The Nollywood film industry alone is estimated at $6.4 billion, while the music sector generates over $2 billion annually, fueled by the global rise of Afrobeats. The fashion industry also contributes about $1 billion annually, according to Business of Fashion.
Over the years, it has secured major deals with international brands such as Netflix, Amazon, Spotify, Apple Music, YouTube, and Universal Music Group. Additionally, international lifestyle brands have tapped into the market through ambassadorial deals to connect with and expand their target audience.
However, despite its impressive growth, the industry faces challenges, including piracy, intellectual property theft, poor contract enforcement, and weak regulatory frameworks. These gaps leave stakeholders like actors, musicians, and record labels vulnerable to exploitation.
Amid these challenges, skilled entertainment lawyers have emerged over the years to safeguard and support the rights, assets, and interests of key players in the industry. This piece highlights seven powerful female entertainment lawyers who have played pivotal roles in shaping and securing Nigeria’s entertainment landscape, ensuring its continued growth and global relevance.
Isioma Idigbe
Isioma heads the Media & Entertainment Practice Group. She holds a Bachelor of Law (LL.B) from the University of Kent, Canterbury, and graduated from the Nigerian Law School in 2015. She also completed a Certificate Course in Entertainment Law from Osgoode Law School, University of York, Toronto.
- Isioma is a member of the Nigerian Bar Association and the International Association of Entertainment Lawyers (IAEL). She is the founder and first president of the University of Kent Nigerian Law Society and a student mentor in the Kent Law School Professional Mentoring Scheme.
- She serves as the Secretary of the Music Publishers Association of Nigeria (MPAN) and is the Managing Director of Verif Content, a company specializing in due diligence checks on Intellectual Property in Nigeria.
In 2018, she received the Rising Star Award at the Law Digest Awards for her contributions to the Nigerian Media and Entertainment Industry.
Omotayo Queen Inakoju
Omotayo Queen Inakoju has extensive work experience in the legal field. Omotayo Queen currently serves as the Head of Legal at EbonyLife Media, where they negotiate and seal multinational film deals, draft and review complex film agreements, and advise on intellectual property strategy.
- Prior to her current role, she worked at Silverbird Group Ng as a Legal Executive, providing legal advice to the board members and handling film exhibition and distribution contracts. Omotayo Queen also served as a Legal Officer/Assistant Legal Manager, where they negotiated, drafted, and reviewed commercial contracts and ensured legal compliance.
- Omotayo Queen Inakoju received a Bachelor of Laws (LLB) degree in Law from Adekunle Ajasin University in Nigeria, graduating in 2012. In 2014, they completed their legal education by obtaining a Certificate of Call to Bar from the Nigerian Law School and was awarded a BL (Bachelor of Law) degree from the Nigerian Council of Legal Education.
Omotayo Queen has also obtained additional certifications, including being an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) and a Graduate Member of ICSAN. In 2018, they became an Associate of the Chartered Institute of Taxation of Nigeria.
Folake Falana
Folake Falana is a highly accomplished international lawyer and educator, renowned for her extensive experience in contracts, commercial law, entertainment law, and more. After earning her Bachelor of Laws (LL.B.) from the University of Buckingham, UK, in 2009, she moved to Nigeria, where she qualified as a barrister and solicitor.
- Throughout her career, Folake has gained invaluable expertise in various legal fields, initially working as a legal advisor at multiple companies before advancing to one of Nigeria’s premier law firms. In 2017, she shifted her focus to entertainment law, founding Folke Consulting and becoming the founding partner at F and F Legal Consulting.
- She is also the head of entertainment law at Falana & Falana Chambers. Her boutique legal consulting firm specializes in representing clients in the music, film, and entertainment industries, as well as supporting entrepreneurs and startups.
- Under her guidance, many clients have achieved tremendous success, gaining millions of streams and views on platforms like Spotify, YouTube, Netflix, and Amazon.
Beyond her legal practice, Folake is a sought-after consultant and expert in entertainment law, regularly appearing on panels, radio shows, and television, including the MTV BASE MUSICOLOGY show. She also dedicates significant time to educating entertainers through her podcast, The Showbiz Compass Podcast, and various training events hosted by her company.
Amanda Uzoagba
Amanda Uzoagba is an entertainment law professional who has been practicing for over 10 years, particularly in music licensing and intellectual property law.
Currently the Head of Licensing for West Africa at Mdundo.com, she has managed music licensing deals, distribution agreements, and ensured compliance with regional legal and commercial standards. Her leadership was important in securing music rights from various stakeholders, largely contributing to Mdundo’s growth and sustainability in the West African market.
- Prior to this, as Lead Consultant at GoldWhisk Consult, Uzoagba negotiated and drafted complex contracts in the media and entertainment sector, focusing on high-value music deals, international distribution, and publishing agreements. Her strategic insights helped clients maximize their revenue potential, securing multimillion-dollar deals that expanded the global reach of African artists.
- During her time at EbonyLife Group, she was a Senior Legal Executive, supported her role in managing the company’s legal affairs, contributing her quota to its global expansion strategy, and overseeing licensing renewals. Her expertise helped EbonyLife navigate regulatory challenges and solidify its global presence.
Throughout her career, Amanda also held leadership roles at Zinarts Agency Limited, Kudibar, and The ColorCode Media Group, advising on licensing, trademark protection, and contract negotiations, establishing herself as a key player in entertainment law.
Yemisi Falaye
Oluyemisi Falaye is a distinguished entertainment lawyer and the Team Lead for Legal, Business Development, and Talent Affairs at The Temple Company Limited, where she provides expert legal advice and representation to some of the biggest names in African entertainment. With a wealth of experience, Oluyemisi has built a reputation as one of Nigeria’s foremost entertainment lawyers, specializing in various facets of law, including intellectual property, immigration, and corporate commercial law.
- Her expertise extends to advising and negotiating deals for creatives, such as musicians, actors, filmmakers, and fashion influencers.
- Falaye who describes herself as “providing Legal advice and representation to the biggest names in African Entertainment”- has worked with high-profile clients like Davido, Zlatan Ibile, Toke Makinwa, Sola Sobowale, Adekunle Gold, and Cuppy (Florence Otedola). She was instrumental in leading the legal team handling contract negotiations and agreements for major projects, including the Afro Pop Vol. 1 album and The Wedding Party 2 movie.
With nearly two decades of experience, Oluyemisi has also held a long tenure as Senior Legal Counsel at Adepetun Caxton-Martins Agbor & Segun (ACAS-LAW), where she gained extensive experience in media, entertainment law, and corporate commercial matters.
Abidemi Opeyemi
Abidemi is the Managing Associate at Pentagon Partners Legal Practitioners, where she plays a pivotal role in leading the Governance, Risk, and Compliance Group, as well as the Transaction Advisory Group.
With over a decade of corporate and transactional experience, her expertise spans corporate restructuring, intellectual property, media and entertainment, compliance, regulatory licensing, antitrust, privacy, executive compensation, and more.
- The Pentagon Partners Legal Practitioners, where Abidemi is managing partner, represented Nigerian actress, Ini Edo in a high-profile intellectual property rights dispute with Netflix over the series- Shanty Town.
- In addition to her work in media and entertainment, she played a key role in formulating the legal structure for the introduction, branding, and marketing of Moet Hennessy in Nigeria.
- Abidemi was also integral in advising on the external restructuring between DSTV (Multichoice Nigeria) and two subsidiaries, where she drafted transaction documentation and ensured compliance across multiple legal areas.
- Her other achievements include acting as Legal Adviser for Venator Media Partners, overseeing media partnerships and due diligence for the acquisition by Trace S.A., and advising Vesta Healthcare Partners on healthcare financing projects.
She also led negotiations for the distribution license of a customized African edition of a popular board game for Bestman Games, managing intellectual property protection and drafting agreements for sponsors, agents, and marketers.
Oyinkansola Fawehinmi
Oyinkansola Fawehinmi is an accomplished entertainment lawyer with over a decade of expertise in intellectual property, talent management, and rights clearance. She is the Founder and Lead Consultant at Zaeda Oracle Limited, established in 2023, which provides tailored legal and business management services for professionals in music, film, fashion, and other creative industries.
- Her career highlights include handling rights clearance for major Nollywood films such as The Black Book, Brotherhood, and Gangs of Lagos, as well as the Bud Remix Project.
- As the President of Digital Music Commerce and Exchange Ltd (2019-2023), she closed multi-million-dollar licensing deals with leading Digital Service Providers and secured high-profile sync licenses with industry giants like Netflix, NFL, and Coldplay.
- Oyinkansola has also elevated African music by discovering and mentoring renowned producers such as P.Priime and Tempoe.
- She spearheaded the groundbreaking Wawomi Tour, boosting her clients’ visibility by 400%- with audiences spanning 10+ countries.
- She also preserved the legacies of late music icons such as Dagrin and Haruna Ishola, increasing their recurring revenue through strategic catalog administration.
Oyinkansola obtained her Bachelor of Laws (LLB) degree from Babcock University in 2013, specializing in entertainment and intellectual property law. She earned her Barrister-at-Law (BL) from the Nigerian Law School in 2014 and later pursued an MBA at the Quantic School of Business and Technology (2022–2023).
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The National Bureau of Statistics (NBS) is planning to rebase Nigeria’s Gross Domestic Product (GDP) and the Consumer Price Index (CPI).
There are expectations that the economy will be bigger while inflation will be lower.
This was the situation in 2014 when Nigeria became Africa’s largest economy, with its GDP surging by 89 percent to $510 billion and inflation averaging 8.05 percent compared to 8.50 percent in the previous year.
But the NBS at the rebasing sensitisation workshop it organised in collaboration with the Nigerian Economic Summit Group in Lagos, last Thursday, emphasised that the exercise does not necessarily mean that the GDP will become more robust or shrink, rather it would give an accurate assessment of the economy.
“Rebasing is a very vital exercise that ensures our economic indicators are accurate, reflecting the updated structure of our economy,” Adeyemi Adeniran, the statistician general and CEO of the NBS, said.
“It’s done to absorb the new ministries that the new government just created, upgrade the CPI basket and change the methodology of CPI and GDP,” he added.
Why does rebasing the economy matter?
Most governments overhaul GDP calculations every three to five years to reflect changes in output and consumption. Prior to 2014, Nigeria had not done so since 1990.
According to the NBS, rebasing is a process of updating an old base year with a recent one to reflect changes in the prices of goods and services produced within the economy. The agency explained that constant price estimates are recalculated using the new base year’s prices.
It stated that the rebasing will cover new areas of the economy, including digital economy, modular refineries, pension fund administration, national health insurance scheme, mining, among others.
Beyond potentially increasing the size of the economy, tax-to-GDP and debt-to-GDP ratios are expected to decline, allowing for more fiscal balance. Similarly, per capita income, which is about $877, will rise.
Will Nigeria become the largest economy once again?
Nigeria became Africa’s biggest economy following the 2014’s rebasing, but analysts point that while the country’s GDP would rise in dollar terms, the results might not be as impressive as what was obtainable over 10 years ago.
Amaka Anku, Africa director at Eurasia Group, said the rebasing will likely increase the size of Nigeria’s economy in dollar terms despite its entry to a second recession in five years and a weakened naira.
“They will be adding new components to the GDP, so it would likely result in a larger economy but, definitely, not as big a bump as in 2010,” Anku said.
Similarly, CardinalStone analysts said that the proposed rebasing will drive improved capturing of economic activities and support planning initiatives. However, it is likely to shrink the size of the informal economy.
It further explained that the rebasing is also likely to result in a significant increase in the reported size of the economy.
How does it affect rising prices?
The NBS said the rebasing exercise may not directly lead to a reduction or upward trajectory of consumer prices, rather it aims to capture price changes over time
However, Ayo Andrew, head of price statistics at the NBS, revealed that four ‘special indexes’ will be added to the CPI computation as part of the rebasing exercise.
“Services index, both national and states; energy index, both national and states; farm produce index, both national and states; and goods index, both national and states, will be added,” Andrew said.
This update will, no doubt, result in more accurate inflation data, potentially altering Nigeria’s inflation outlook compared to previous measures. It is expected to provide better information on business strategies, moving forward.
Structural changes between old, new numbers
The NBS revealed that the base year adopted for the GDP was 2019 while 2024 was used for the CPI.
For the CPI, the year was proposed to capture the structural changes that have taken place over time. It is driven by the removal of subsidies on foreign exchange and petrol.
For the GDP, 2019 was chosen as a preferred base year because economic activities were relatively stable within the period, compared to subsequent years disrupted by the impact of COVID-19 and policy shifts.
The constituents of the inflation basket are expected to expand from 740 to 960.
The contributions of items on the divisional level to the headline index has been increased to 13 from 12, with the addition of insurance and financial services.
Likewise, there will be adjustments to weightings of the previous 12 division level weights.
However, analysts at CardinalStone, in a report last week, said that the re-weighting of the CPI basket may result in a reduction in the impact of food and non-alcoholic beverage price changes on the overall headline inflation reading.
It said that housing, water, electricity, gas and other fuels are likely to have a lesser impact on future core inflation readings due to the re-weightings.
“The likes of transport and restaurants & accommodation services are likely to have a more pronounced impact on future inflation readings due to the re-weightings,” it said.
While the rebasing exercise will no doubt raise Nigeria’s economic profile, with over 129 million Nigerians living below the national poverty line, analysts hold the view that the effects would be felt more in statistics than in everyday life.
As the race for 2027 elections begins to shape up, strong rumours of defection are swirling around no fewer than five first term opposition governors, LEADERSHIP checks have revealed.
Investigations by LEADERSHIP showed that governors of Abia (Alex Otti) Enugu (Peter Mbah), Delta (Sheriff Oborevwori), Rivers (Siminalayi Fubara) and Akwa Ibom (Umoh Eno) have had to address concerns surrounding talks about their plans to dump their parties for the ruling All Progressives Congress (APC).
While Mbah, Fubara, Eno, Oborevwori belong to the major opposition PDP, Otti belongs to the Labour Party. Interestingly, both parties have been locked in post-2023 election crises which seems to have defied interventions so far.
While some sources confided in LEADERSHIP that some of the governors are being subtly pressured to join the ruling APC, others noted that others, mindful of the instability in their party, are open to joining a platform that would enhance their chances of securing a second term.
Since the return of democracy in Nigeria in 1999, over 20 sitting governors have dumped their political parties for another. The top states with the highest number of sitting governors jumping ship are Sokoto, Imo, Abia and Adamawa.
In Sokoto, three governors have dumped their parties for another, while two sitting governors in Imo, Abia, Zamfara and Adamawa have done the same.
While some first term governors were able to win a second term, others were not so lucky.
In Abia State, concerns about Governor Otti’s loyalty to his party arose when he resorted to the Zenith Labour Party as a special purpose vehicle for the local government election in the state last year.
However, talks about dumping his party heightened when after the groundbreaking ceremony for the Abia airport, the minister of Aviation, Festus Keyamo, declared that the Abia governor would return to the APC.
Also, the Deputy Speaker of the House of Representatives, Benjamin Kalu, had mounted pressure on Otti to join the APC.
LEADERSHIP Friday reports that no fewer than five Labour Party House of Representatives members have joined APC so far.
In Rivers State, Governor Fubara’s use of APP for the local government election, following his inability to wrest the PDP structure from the minister of Federal Capital Territory (FCT) Nyesom Wike, has sustained talks that he may dump the PDP ahead of the 2027 election.
The closeness of the Akwa Ibom State governor, Eno, to Senate President Godswill Akpabio, one of the national leaders of APC, has sustained suspicions that he might join the party at the centre.
In Enugu, there are insinuations that the disruptive politics within the PDP at the national level might make the governor, who isn’t disposed to be distracted by party intrigues, seek another platform.
PDP leaders in Delta, under the aegis of Concerned Leaders of PDP, blew the whistle about Oborevwori’s romance with APC leaders. The party leaders, namely Mr Theophilus Ekiyor; Mr. Ochuko Oghenekome, and Mr. Ezekiel Chukwudi, in an open letter accused the governor of secretly romancing President Bola Tinubu’s chief of staff, Hon Femi Gbajabiamila and the Lagos State Governor, Mr. Babajide Sanwo-Olu, in order to secure a second term as Delta governor.
Recall that Hon. Erhiatake Ibori-Suenu, a federal lawmaker and daughter of former Delta State governor, James Ibori, had dumped PDP for APC last year. Ibori is a Tinubu contemporary as governor in 1999 and a close ally.
But the governors have pushed back on the rumours, declaring, albeit through their aides, that they will not dump their parties for the ruling APC.
Also their parties have declared such claims as the handiwork of the ruling party, seeking to sow confusion within their parties and suspicion against the governors.
Mbah has no plan of leaving us – PDP
The spokesman of Enugu State Chapter of the Peoples Democratic Party (PDP), Uchenna Obute Udi has described as falsehood allegations that many members of the party are planning to defect to APC.
He dismissed the allegations in an exclusive interview with LEADERSHIP Friday in Enugu.
He described Enugu State Governor, Peter Mbah, as the leader of the PDP in Enugu State and the Southeast and wondered why such allegations would be made against the PDP members including the governor.
The PDP spokesman stated that in less than two years in office, the governor has transformed the state through massive infrastructural development.
He noted that the governor has endeared himself to the people of the state irrespective of their party affiliations through his numerous projects.
On the recent visit of President Almed Bola Tinubu to the state, Udi stated that he came to Enugu State as president of the country and not for party politics.
He noted that the president knew Mbah before the latter became governor, and that the governor was a key actor in the private sector.
Udi added that the speech of the President during his visit clearly showed that he came to see what the governor had been doing irrespective of his party affiliation.
Otti not under pressure to dump LP
As at press time, efforts to get clarification on the report from either his adviser on Media and Publicity, Ferdinand Ekeoma, or the chief press secretary, Ukoha Njoku on their mobile phones failed.
However, a top member of the administration, who pleaded anonymity said he was not aware of such pressure even as he argued that by his performance in office, Otti had become a brand.
“Like a beautiful bride, it is possible that some opposition parties might be wooing him to join them. Such moves are not out of place in our clime,” he asserted.
But the story is different in the Labour Party where most of the members feel the governor sidelined them “in all ramifications after climbing on our back to victory”.
According to a reliable source in the party, securing the party’s ticket for 2027 might be an uphill task for Otti “so, the earlier he starts looking elsewhere perhaps the better for him.”
“I’m not aware whether he has indicated interest to participate in the ongoing membership revalidation in the party,” the source added.
Oborevwori’s defection rumours sponsored by opposition
The chief press secretary to the Delta Governor, Sir Festus Ahon, said there is no iota of truth in the claim by PDP leaders in the state that Oborevwori’s plans to defect to the ruling APC.
“It’s a lie being pushed by opposition elements” he told LEADERSHIP Friday.
Similarly the PDP in the state has dismissed rumours as mischievous and unfounded.
In a statement issued by the party’s chairman in the state, Chief Solomon Arenyenka, the PDP described the reports as the work of unemployed political hirelings and their unscrupulous sponsors, who are failed agents of destabilisation and betrayal.
The statement read in part: “We assert unequivocally that the faceless group of individuals spreading these rumours and presenting themselves as concerned leaders of the PDP are impostors and not members of our esteemed party.
“We strongly condemn, in the strongest terms, the vile and malicious propaganda of these depraved perpetrators, particularly the key peddler—a notorious serial blackmailer and dishonest individual who will be remembered infamously for concocting lies as a means of survival.”
Why Gov Eno Won’t Defect To APC – PDP
PDP in Akwa Ibom has also dismissed the claim about Eno’s surreptitious moves to join APC, calling it a ruse.
The party hierarchy in the state led by Elder Aniekan Akpan had at various fora dismissed such report as mere speculations within the imaginations of the purveyors.”
Akpan, noted that “PDP is like a religion in Akwa Ibom,” stressing that, “PDP is Akwa Ibom and Akwa Ibom is PDP.”
In the vein, the PDP publicity secretary, Mr. Edwin Ebiese, urged the people of the state not to believe in rumour as propagated by some opposition forces in the media,
However, a PDP leader in the state, who pleaded anonymity, admitted that the rumour shouldn’t be dismissed wholly.
He said, “Tinubu is not like Buhari, who appeared apolitical throughout his presidential stint.
“Tinubu is an ardent, suave and alluring politician with massive Machevellian attributes of the end justifying the means. So he will not spare anything to capture Akwa Ibom.
“Surviving to emerge the winner of the 2023 presidential election against all odds, the President would want to dismantle all perceived obstacles by wooing some of the remaining opposition states, especially Akwa Ibom, that they had over the years longed for, into the APC.
“They had done it in Edo and Ondo states, so the complimentary dispositions by Governor Umo Eno, and the Senate President could be a pointer to the likely defection of the governor to crumble and further weaken the opposition structure in Nigeria ahead of the 2027 general elections”, the PDP stalwart in Uyo told LEADERSHIP Friday.
Fubara Has No Plan To Leave
PDP – Rivers Information Commissioner
The Rivers State Commissioner for Information and Communications, Warisenibo Joe Johnson, has said Governor Siminalayi Fubara has no plans to dump the Peoples Democratic Party (PDP) for any other political party.
Speaking with LEADERSHIP Friday in Port Harcourt, Johnson said: “Rumour is rumour and will remain in the realms of rumour. I am not aware of such a move.”
[Leadership]
Governor Abdullahi Sule of Nasarawa State has explained why he reversed his stance on the controversial tax reforms bill, stating that his concerns regarding the bill have been addressed.
Governor Sule, who was one of the vocal northern political leaders initially opposed to the bill, made this disclosure during an appearance on Channels TV’s Politics Today programme.
He highlighted that the opposition was not to the idea of tax reforms but to the bill’s contents in its original form. According to him, the key objective was to ensure that the bill was thoroughly discussed before any decision was made.
“We have achieved our goal, and that is the reason today I talk differently. I talk differently because the goal we wanted to achieve has been achieved.
“We wanted the bill to be further discussed and not passed in its original form. Now, there are opportunities for further review, and I commend the House of Representatives, particularly the speaker, for the way they have handled the issue,” Sule stated.
The governor also expressed satisfaction with the current handling of the bill by the lawmakers, especially the House of Representatives and its speaker, adding that the concerns raised by him and others had led to a more thorough scrutiny of the bill.
[DailyTrust]
Boavista have rejected Trabzonspor’s €2.5m bid for Super Eagles defender, Bruno Onyemaechi, DAILY POST reports.
According to Turkish news outlet, Fotomac, Trabzonspor’s offer is below Boavista’s valuation of the left-back.
Boavista will only consider offers in the region of €3m for Onyemaechi.
The 25-year-old has been one of the Portuguese side’s top performers this season.
DAILY POST recalls that Onyemaechi was recently voted Boavista’s December Player of the Month.
He arrived Boavista on loan from Feirense in the 2022/23 season.
The move was made permanent the following campaign.
[DailyPost]