FLOODS: AS DEATH TOLL RISES…

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With 165 Nigerians dead, nearly 120,000 affected, and scores of communities submerged in just seven months of 2025, Nigeria’s floods have moved beyond seasonal disruptions to a national crisis. Across 19 states, from Borno to Bayelsa, families are counting their losses — of loved ones, homes, farmlands, and livelihoods. Yet, amid the grim statistics, there is a glimmer of institutional momentum as the National Emergency Management Agency (NEMA) secures a critical funding intervention from the National Economic Council (NEC) to scale up flood response efforts across the country.

The intervention, announced after the NEC meeting held at the Presidential Villa, Abuja, marks a turning point in the country’s approach to disaster financing. At the heart of this development was NEMA’s strategic presentation on the state of flooding in Nigeria, delivered by its Director General, Mrs. Zubaida Umar. The briefing not only laid bare the rising toll of the disaster but also outlined a proactive road map for response, drawing attention to both progress made and glaring institutional gaps.

Following her presentation, the Council approved the disbursement of N10 billion directly to NEMA — a rare emergency release intended to bolster the agency’s preparedness, rescue, and relief operations nationwide. In addition to this, the NEC approved N3 billion for each of the 36 states and the Federal Capital Territory, alongside N1.5 billion allocations to key federal ministries involved in flood prevention and emergency coordination.

This funding is a product of sustained advocacy, data-driven planning, and institutional visibility. Since early 2024, NEMA has taken deliberate steps to position itself as not just a response agency, but a central actor in national disaster risk governance. Through the development of the National Disaster Risk Reduction Strategy and Action Plan (2024–2027) with support from the United Nations, as well as the ongoing validation of a nationwide Hazard Risk Analysis, the agency has built a compelling case for anticipatory action rather than reactive scramble.

While addressing the NEC, Mrs. Zubaida Umar highlighted that NEMA had already activated its Emergency Operations Centres (EOCs) at the national and zonal levels, dispatched early warning messages to all 36 states, and deployed search-and-rescue assets to flood-prone regions. She also emphasized the need to further strengthen State Emergency Management Agencies (SEMAs) and operationalize Local Emergency Management Committees (LEMCs) — many of which are inactive or underfunded, hampering last-mile response efforts.
Crucially, the agency’s data-backed advocacy helped shift attention from disaster aftermaths to the necessity of preparation. According to NEMA’s latest dashboard, the 2025 floods have so far affected 119,791 people, displaced 43,936, injured 138, and destroyed over 8,200 farmlands and 8,500 homes across 43 local governments. Vulnerable groups — children, women, the elderly, and persons with disabilities — make up the majority of the affected population. These sobering figures lent urgency to the call for action.

Despite these efforts, Mrs. Umar did not shy away from pointing out the systemic bottlenecks undermining national response. From weak drainage infrastructure and poor compliance with urban planning regulations to insecurity in some flood-prone areas and delayed data sharing by subnational actors, the challenges remain complex and deeply rooted. Yet, her tone remained one of pragmatic optimism. “Flooding is not new,” she remarked, “but our response must evolve. We must strengthen our institutions at all levels — and we cannot do it alone.”

This sense of urgency appeared to resonate with the NEC, chaired by Vice President Kashim Shettima. The funding directive, while a welcome development, also signals a test of accountability and coordination across all tiers of government. For NEMA, it means mobilizing quickly to utilize the funds in line with its mandate, while ensuring transparency and community-level impact. For states, it is a call to awaken dormant SEMAs, enforce environmental laws, and match federal efforts with local preparedness.

Observers say the timing is crucial. The Nigeria Hydrological Services Agency (NIHSA) had earlier projected that 148 LGAs across 33 states are at high flood risk in 2025 — a warning that is already materializing in parts of Rivers, Imo, Kaduna, and Borno. The United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) has also warned that disaster-induced displacements in Nigeria could double by 2030 if adaptation efforts remain slow.

What the NEC intervention represents, therefore, is not just a financial bailout but a validation of NEMA’s shift towards strategic foresight. By leveraging early warning data, inter-agency coordination, and sustained stakeholder engagement, the agency is setting a new tone for disaster management in the country. But this shift will only hold if it is matched by political will, functional subnational systems, and community participation.

For too long, flood response in Nigeria has followed a predictable script: disaster strikes, lives are lost, emergency palliatives are rushed in, and then business as usual resumes — until the next rainy season. The hope now is that with structured funding and institutional clarity, this cycle can be broken.

As the waters continue to rise and thousands remain at risk, the question is no longer whether Nigeria can predict these floods — but whether it can respond in time, with the right tools, coordination, and commitment.

Abdulhamid Abdullahi Aliyu writes on disaster management, humanitarian response, and national development

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    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    ·                     NGX capitalisation jumps 41.4% to N88.77trn

    ·                     FX stability, bold reforms, corporate resilience fueling rally

    ·                     Analysts project market to cross N100trn mark before end of 2025

    Kayode Tokede

    With renewed confidence, the stock market has delivered a stunning performance, gaining N26.01 trillion in just eight months.

    Driven by strong investor appetite, bold policy shifts, and a wave of corporate resilience, the rally signals not just numbers on the trading board but a broader story of optimism and recovery.

    Specifically, the market capitalisation that opened 2025 at N62.763 trillion, gained N26.01 trillion or 41.43per cent in eight months to close yesterday, the last trading day in August at N88.769 trillion.

    Also, the Nigerian Exchange Limited All-Share Index (NGX ASI) closed yesterday, at 140,295.50 basis points, advancing by 37,369.10 basis points or 36.31 per cent year-to-date (YtD) from 102,926.40 basis points it closed for trading in 2024.

    Capital market analysts attributed the stock market N26.01 trillion growth to stability in the foreign exchange market, companies recovering from foreign exchange losses, market liquidity, capital inflow, dominance of domestic investors, increasing portfolio investment, Central Bank of Nigeria’s (CBN) banking sector recapitalisation, and insurance sector reforms. All these, they pointed out, have played  critical role in overall stock market appreciation in the growth so far in the first eight months of 2025.

    So far in 2025, the stock market has seen the Monetary Policy Committee of the CBN retaining interest rate at 27.50 per cent, inflation rate moving to 21.88 per cent as of July 2025 from 15.44per cent in December 2024, listing by introduction of Legend Internet Plc and banks announcing the outcome of fresh capital raising on the  Exchange.

    Also, yield on Nigerian Treasury Bills  (NTB) has dropped to 15.61 per cent as of July 2025 from  18.00 per cent. 

    In the eight months under review, several stocks listed on the NGX have recorded strong month-to-date appreciation, reflecting heightened foreign investor confidence driven by improved macroeconomic indicators and robust corporate earnings.

    THISDAY checks showed that out of the N88.769 trillion market capitalisation, BUA Foods Plc contributed 11.96 per cent when its market capiitalisation closed yesterday, at N10.62 trillion, followed by MTN Nigeria Communications Plc that contributed 10.3 per cent amid N9.13 trillion market capitalisation as of August 29, 2025. 

    The growth in BUA Foods stock price impacted on NGX Consumer Goods Index on the NGX to emerge as the best performing index, while the NGX Oil & Gas Index maintained its position as the worst performing index on NGX.

    As NGX Consumer Goods Index appreciated by 84.24per cent YtD, NGX Oil & Gas plummeted to -12.19 per cent in its YtD performance. 

    Capital market analysts noted that the corporate earnings reports of H1 2025, among other factors, encouraged investors seeking high returns in a volatile macro environment.

    The Managing Director, Globalview Capital Limited, Mr. Aruna Kebira in a chat with  THISDAY,  noted  that the  stock  market  in the eight months of 2025, benefitted from drop in inflation, among others.

    “The yields in the money market are not looking as attractive as they were in 2024, making discerning investors in search of better yields consider the capital market as their investment destination.

    “In the last MPC, the MPR was retained, including other metrics. This is sending positive signals that, as the inflation figure and money market yields are downward looking,  the MPC would have a reason to tinker the MPR downward. Which is not always fixed income friendly,” he added.

    He predicted that the stock market in  September 2025, would be hinged on the quality of the audited half year results and account of Zenith Bank Pl, among others.

    “If the various issuers demonstrate a performance higher than the corresponding period of 2024 and declare an impressive interim dividend, the stock  market will move to appreciate their prices.

    “I also see an improvement in the liquidity around the stock market arena, which will boost market participation and invite the bull into the market,” he added.

    For his part, the Managing Director and Chief Executive Officer, APT Securities and Funds Limited, Kasimu Garba Kurfi, projected that the market capitalisation was expected to surpass the N100 trillion mark by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities.

    Kurfi identified key drivers of the 2025 market rally, including the elimination of foreign exchange-related losses by companies.

    He pointed out that in 2024, listed firms posted pre-tax FX losses of N507.2 billion, up from N359 billion in 2023, representing a combined N867 billion in losses.

    “In 2025, we have seen zero FX losses due to exchange rate stability, and this has significantly boosted investor confidence,” he said.

    The APT Securities boss said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) has triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme has revived the primary market, attracting over N2 trillion in 2024, with similar volumes anticipated in 2025.

    Capital market analysts noted that sustaining this momentum in the remaining of 2025 will depend on the continuation of stable and credible economic policies.

    The Vice President, Highcap Securities, David Adonri noted that the equities market so far in 2025 has witnessed massive interest in the recovering major stocks such as Airtel Africa, Nestle Nigeria Plc, Nigerian Breweries Plc, Cadbury Nigeria Plc, MTN Nigeria Communications Plc, and others which propelled the rally.

    In addition,  analysts at Cordros Research stated that, “We believe the domestic equities market might respond positively to the MPC’s decision to pause interest rate ikes as investors assess the likelihood of policy easing in the medium term.

     “We also expect to see some rotation into sectors positioned for expansion in a lower-rate environment, particularly the manufacturing sector, as lower financing costs, improved input cost dynamics, and stronger consumer demand enhance growth prospects, making the sector more attractive to investors

    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

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    ·                     NGX capitalisation jumps 41.4% to N88.77trn ·                     FX stability, bold reforms, corporate resilience fueling rally ·                     Analysts project market to cross N100trn mark before end of 2025 Kayode Tokede With renewed confidence, the
    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket

    Chuks Okocha in Abuja

    Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the 2027 presidential election, describing the publication as false and misleading.

    Jonathan’s cousin, Azibaola Robert, who debunked the report in a statement on his verified Facebook page, however, declined to confirm if the former president has decided to contest in 2027.

    The denial followed a report that Jonathan had opted not to pursue a second-term ambition so as not to disrupt Southern unity ahead of the polls.

    Although the former president has not formally declared his candidacy, strong indications point to ongoing nationwide consultations with political stakeholders as part of moves to actualise a potential comeback bid.

    Azibaola, who faulted the news report, wrote: “The story is completely false. Former President Jonathan never said he would not contest in 2027. The so-called aide quoted in the publication does not exist.”

    The clarification comes amid growing speculation over Jonathan’s political future.

    While he has not officially announced his intention to run, his cousin stressed that he has equally not ruled himself out.

    “The former president has made it clear that he would not yield to calls not to run, since those making such admonitions had selfish motives,” Azibaola said, without disclosing when Jonathan might formally declare his ambition.

    Jonathan, who served as president between 2010 and 2015, remains a formidable figure in Nigeria’s political landscape.

    Meanwhile, Governor of Bauchi State, Bala Mohammed, has said the Peoples Democratic Party (PDP) is considering Jonathan or Peter Obi, ex-governor of Anambra, to possibly lead the party to the polls in 2027.

    His comment comes in the wake of the PDP’s decision to zone the 2027 presidential ticket to the South.

    On Wednesday, Abba Moro, Senator representing Benue South, said some individuals have been engaging with Jonathan and Obi over a potential return to the PDP.

    He also hinted that Obi could clinch the party’s presidential ticket in 2027 if he decides to return.

    Speaking during his appearance on national television, Mohammed said Jonathan remains “one of the most celebrated politicians today despite previous political blackmail against him” before the 2019 election.

    Mohammed, who is Chairman of the PDP Governors’ Forum, said Obi, who contested on the platform of the Labour Party (LP) in 2023, would be given a chance if he returns.

    “But certainly, President Jonathan is one of the candidates we are thinking of, if he joins us and opens his mind to run,” he said.

    “And even other people like Governor Obi, because if he decides to come to a better platform where there are no encumbrances, he will be given the opportunity too,” Bala said.

    Asked whether the PDP governors were engaging Obi ahead of the 2027 election, he replied: “Have you not seen him with me? He’s my brother, my friend.”

    “And of course, he’s one of the most celebrated politicians too. You see him within the coalition or no coalition. Definitely, we are not sleeping, only that we don’t make noise,” Mohammed added.

    He noted that other Southern politicians, including Seyi Makinde, Governor of Oyo State, are also free to contest the ticket.

    “There are so many politicians. I even had a session with Governor Amaechi. I have not been sleeping,” the Bauchi governor said.

    “I have to make sure I create a closing-of-rank for people to come and help.”

    When asked about the possibility of Rotimi Amaechi returning to the PDP, the Bauchi governor replied: “Well, he’s free if he wants to come back.”

    Mohammed also said the PDP lost the 2023 election because it failed to zone the presidential ticket to the South.

    The governor suggested that the party needs a Christian from the South to emerge as a presidential candidate, with a Muslim from the north as running mate

    The post Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin appeared first on THISDAYLIVE.

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    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket Chuks Okocha in Abuja Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the
    The post Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin appeared first on THISDAYLIVE.

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