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Masked Gunmen Ambush Osun Amotekun Commander, Riddle Vehicle With Bullets

The incident reportedly occurred around 10:05 p.m. on Monday, shortly after Omoyele closed from duty at the Amotekun Corps Headquarters in Osogbo. ArticlesRead More

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Cardoso: Building Custodians of Nigeria’s Economic Future, Imperative

Every reform era must eventually face a defining question: who will protect its gains once the headlines fade? For the Central Bank of Nigeria (CBN), that question took centre stage last Friday at the Lagos Business School, when the CBN Governor Olayemi Cardoso addressed hundreds of students in a landmark fireside chat.

It was not a technical seminar on monetary policy. It was a dialogue about continuity, a call to Nigeria’s youth to understand that stability is not just a statistic but a national mindset.

The inaugural CBN Governor’s Annual Lecture Series, themed ‘Next Generation Leadership in Monetary Policy and Nation Building’, represents the evolution of what can best be described as the Cardoso Doctrine: a return to discipline, transparency, and credibility as the architecture of economic leadership, and now, a deliberate effort to socialise stability by embedding it in the next generation.

When Cardoso assumed office in September 2023, Nigeria faced what he later described as a “crisis of confidence”. Inflation was climbing, the foreign exchange market was dysfunctional, and investor trust had eroded. In response, the CBN pivoted sharply towards orthodox monetary policy, curbing deficit financing, tightening liquidity, unifying exchange rates, and publishing long-suppressed financial statements.

Two years later, those reforms have stabilised the naira, attracted new capital inflows, and restored global confidence in Nigeria’s economic management. But for the governor, these technical victories are only half the story. Reform must become culture, and culture begins with people. “Without stability, the things you are asking about can’t happen,” he said. “You can wish them to, but serious investors will run away.”

That statement, delivered not to economists but to aspiring leaders, crystallised a profound idea: stability is not the task of central bankers alone; it is the civic duty of every generation that benefits from it.

Cardoso’s insistence on collective stability is not rhetorical; it is strategic. By turning policy into dialogue, the CBN is nurturing a generation that views economic discipline as a shared value rather than an imposed constraint. This is leadership reframed, from bureaucratic oversight to mentorship in stewardship.

For decades, Nigeria’s financial narrative has oscillated between crisis and recovery. The CBN governor’s vision is to replace that cycle with a culture of consistency, where transparency and trust are not exceptions but expectations.

The students at the lecture, drawn from Pan-Atlantic University, the University of Lagos, Lagos State University and Yaba College of Technology, represent the vanguard of this new culture: future entrepreneurs, policymakers, and civic actors who will inherit both the tools and the temperament of reform.

“Why should people deal with all the difficulties of running a business and have instability added to it?” he asked. “That is our work. If we fail in that, we fail in being an effective central bank.” Cardoso’s reflection on Nigeria’s transformation was as candid as it was instructive.

“Two years ago, people were not looking to exit through the door but through the window,” he recalled. That imagery captured a nation’s exhaustion. Today, the story is shifting. Investor confidence is returning, the credit outlook has improved, and Nigeria’s presence in global financial circles is again marked by credibility. The governor referenced a recent visit by BlackRock leadership as symbolic proof that consistency breeds confidence.

For the students listening, these were not statistics; they were evidence that leadership grounded in credibility can turn despair into momentum. When asked about the future of central banking, Cardoso did not hesitate: “Digitisation and AI will be key to the future effectiveness of any central bank.” Under his leadership, the CBN is not only modernising systems but redefining governance through technology. The move to a paperless office, the introduction of an electronic FX matching platform, and the use of AI-driven oversight all signal a forward-looking institution that sees transparency as both technological and ethical.

For young Nigerians entering business, fintech, or public service, technology becomes the bridge between access and accountability. In a country where opportunity has too often depended on proximity, open data and digital systems are the great equalisers. By linking innovation to integrity, the governor is teaching that the digital future must be a disciplined one, powered by inclusion, not indulgence.

Perhaps the most powerful moment of the session came when he set aside charts and policies and spoke directly about personal character. “Protect your hard-earned credibility,” he told the audience. “It will take you very far. Without it, you cannot reach what you aspire to.”

In those words lies the heart of his leadership philosophy: credibility is both the currency of institutions and the compass of individuals. He warned against discouragement, recalling how the CBN itself faced formidable headwinds at the start of its reform drive. “The headwinds come from places you least expect,” he said. “But you must have the courage and the strength of character to stay the course.”

For a generation often impatient for quick results, that was a timeless reminder: resilience is reform’s most underrated virtue.

Every generation inherits a balance sheet of assets, liabilities and lessons. The greatest of these assets is credibility, a resource painstakingly rebuilt over the past two years. Through the governor’s Lecture Series, the CBN is institutionalising credibility as a public value, transforming monetary stability from a technocratic goal into a social ethic.

And that is where the true opinion lies: Nigeria’s biggest economic risk is not inflation or exchange rate volatility, it is institutional amnesia. The inability to preserve credibility once it has been restored is what has historically undone the country’s economic progress.

The Cardoso Doctrine seeks to break that cycle by creating custodians, not just beneficiaries of stability. As the governor concluded, when asked to describe Nigeria’s future in one word, he replied simply: “Bright.” That optimism is not rhetorical; it is earned, forged through discipline, transparency and the conviction that the next custodians of Nigeria’s economy are already in the room, learning how to protect what has been rebuilt.

In that sense, the Cardoso’s doctrine is more than a set of policies; it is a philosophy of continuity, one where stability is not only achieved but taught, shared, and safeguarded by a generation prepared to lead with credibility at its core.

Every reform era must eventually face a defining question: who will protect its gains once the headlines fade? For the Central Bank of Nigeria (CBN), that question took centre stage

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Dangote Group Showcases Products at Abuja Fair

The pavilion of the Dangote Group attracted many visitors, who expressed interest the group’s wide range of products at the recent 20th Abuja International Trade Fair.

The Abuja Chamber of Commerce and Industry (ACCI) had projected that the 2025 Fair will attract over 100,000 participants from across Nigeria and beyond.

And when Dangote Group marks its Special Day at the weekend, visitors to the company’s pavilion expressed interest in Dangote Refinery and the group’s wide range of products.

For instance, a visibly delighted visitor, Peter Abdul, who spoke to newsmen at the Dangote booth, said he was particularly fascinated by the company’s range of products, especially its sugar, cement, fertiliser, and salt.

A participant from Kano, Ibrahim Rogo, expressed interest in exploring opportunities in petroleum and polypropylene trading, noting that he had collected the company’s contact information for further engagement.

Members of the diplomatic corps also visited the company’s pavilion to inquire about Dangote Sinotruk West Africa Limited, a leading truck manufacturing and assembly company under the Dangote Group, known for enhancing local capacity in logistics and transportation.

Speaking earlier, representative of the company, Hashem Ahmed, said: “Every bag of cement, every tonne of fertiliser, every litre of petroleum product, and every grain of sugar you consume from Dangote represents more than just a product. It represents a job for a Nigerian, a contract for a local supplier, an opportunity for a small business, and a step toward a more prosperous Nigeria.”

Mr. Hashem, a general manager, said the company’s business partners, and mostly distributors, have contributed to unlocking its potential.

“I appreciate our esteemed business partners and dedicated dealers of Dangote products here in Abuja and across Nigeria. Your commitment, trust, and resilience have been central to the success of our brand,”

He commended the Abuja Chamber of Commerce for organising the trade fair, and for the careful selection of the theme: Sustainability: Consumption, Incentives, and Taxation, adding that it resonates with the vision and mission of the Dangote Group.

The President of ACCI, Chief Emeka Obegolu, said the chamber was proud of its long-standing partnership with the Dangote Group.

Obegolu said: “As a member of our Chamber, the Dangote Group has consistently contributed to the growth and visibility of the Abuja International Trade Fair. Their presence here today, with their impressive pavilion and diverse product showcase, is a testament to their commitment to trade promotion and to strengthening Nigeria’s industrial base.”

He added that the Dangote Group, through its operations in cement, sugar, salt, fertilizers, agriculture, and energy, has consistently demonstrated that sustainability and innovation are not just aspirations but practical business strategies.

“Their investments in local value addition, backward integration, and renewable energy solutions directly align with the Chamber’s vision for a competitive and self-reliant Nigerian economy,” he said.

He thanked the Group’s President Alhaji Aliko Dangote for his vision and steadfastness in fixing the Nigerian economy.

“With our four Centres, the Abuja Trade Centre (ATC), the Business Entrepreneurship and Skills Technology (BEST) Centre, the Dispute Resolution Centre (DRC), and the Policy Advocacy Centre (PAC), alongside over 16 active Trade Groups, we provide holistic support to businesses. In this mission, the partnership with the Dangote Group has been invaluable in deepening trade, expanding opportunities, and advocating for a friendlier business environment,” he added.

The pavilion of the Dangote Group attracted many visitors, who expressed interest the group’s wide range of products at the recent 20th Abuja International Trade Fair. The Abuja Chamber of Commerce

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2027: Lawyer Asks Court to Stop Jonathan from Running

Alex Enumah in Abuja

An Abuja-based lawyer, Mr. Johnmary Jideobi, has asked a Federal High Court in Abuja, for an order of perpetual injunction, restraining former President Goodluck Jonathan from presenting himself to any political party in the country for the purpose of contesting the 2027 presidential election.

The plaintiff in addition, is seeking another order barring the Independent National Electoral Commission (INEC), from accepting from any political party, Jonathan’s name or publishing same as a duly nominated candidate for the presidential contest.

Besides Jonathan, INEC and the Attorney General of the Federation (AGF) are the 2nd and 3rd defendants, respectively. The plaintiff in the suit marked: FHC/ABJ/CS/2102/ 2025, is specifically asking the court to determine, “whether in view of the combined provisions of the entirety of Sections 1(1), (2) & (3) and 137(3) of the 1999 Constitution of the Federal Republic of Nigeria as amended and their conflated interpretation, the 1st Defendant is eligible, under any circumstances [whatsoever] to contest for the office of the President of the Federal Republic of Nigeria?”

Upon the determination of the question, the plaintiff, sought four principal reliefs, to wit:

“A declaration of this Honourable Court that upon an intimate reading and complete understanding of the entirety of Sections 1(1), (2) & (3) and 137(3) of the 1999 Constitution of the Federal Republic of Nigeria as amended the first Defendant [Goodluck Ebele Jonathan] is ineligible to stand for or occupy the office of the President of the Federal Republic of Nigeria.

“A declaration of this Honorable Court that in view of the entirety of Sections 1(1), (2) & (3) and 137(3) of the 1999 Constitution of the Federal Republic of Nigeria as amended the 2nd Defendant [the INEC] lacks the constitutional power to receive from any political party the name of the first defendant or publish same as the candidate of any political party for the election into the office of the President of the Federal Republic of Nigeria holding in 2027 and other years to come.

“An order of perpetual injunction of this Honourable Court restraining the first Defendant [Goodluck Ebele Jonathan] from presenting himself to any political party in Nigeria for nomination as its candidate for the general election into the office of the President of the Federal Republic of Nigeria holding in 2027 and other years to come.

“An order of perpetual injunction of this Honourable Court restraining the 2nd Defendant [INEC] from either accepting from any political party in Nigeria the name of the 1st Defendant [Goodluck Ebele Jonathan] or publishing same as a candidate for election into the office of the President of the Federal Republic of Nigeria holding in 2027 and other years to come.”

As well as, “an order of this Honourable Court directing the 3rd Defendant [Honourable Attorney-General of the Federation] to ensure compliance with the decisions and Orders of this court.”

In an affidavit of facts that was deposed to in support of the suit by one Emmanuel Agida, the plaintiff told the court that he is an advocate of constitutionalism and the rule of law.

He told the court that the 1st defendant was first sworn in as President on May 6, 2010, following the death of then President Umaru Musa Yar’Adua on the May 5,2010, having previously been the Vice-President.

The plaintiff said he recently saw on various national dailies and television stations, reports on Jonathan’s intention to contest for presidency in 2027.

“That the Plaintiff believes that the 1st defendant, having completed the unexpired term of late President Yar’Adua and subsequently served a full term after the 2011 election, has exhausted the constitutional limit of two tenures as President.

“That if the court does not intervene timeously, a political party may present the 1st defendant as its presidential candidate in the 2027 general election, thereby breaching the Constitution.”

On his locus standi (legal right) to institute the action, the plaintiff maintained that part of his duties, as a lawyer, is to forestall a violation of the constitution and to uphold the rule of law.

“There are chances that one of the political parties in Nigeria may favour the 1st defendant to stand as its presidential candidate in the forthcoming 2027 general elections to be conducted and overseen by the 2nd Defendant.

“ If unchallenged, the 1st defendant may enter the 2027 presidential race on the platform of one of the political parties in Nigeria and may possibly emerge the winner of the said election.

“In the event the 1st defendant is returned as elected and sworn as the President of the Federal Republic of Nigeria come in 2027, it will mark the 3rd time the 1st defendant will be taking oath of office as the President of the Federal Republic of Nigeria.

“In the event the 1st defendant is returned as elected and sworn as the President of the Federal Republic of Nigeria come in 2027, the plaintiff as a Nigerian citizen, would become one of those under the governance control of the 1st defendant [who by virtue of his office would be saddled with the responsibility of executing the laws of the country].

“The plaintiff has instituted this suit in the public interest, in the defence of the rule of law and accentuation of the supremacy of the Constitution and to preserve the integrity of the Nigerian Constitutional order.

“ It will be in the interest of justice for this Honourable Court to grant the prayers contained on the face of this Originating Summons,” the affidavit further read.

No date has been fixed for hearing of the suit.

Alex Enumah in Abuja An Abuja-based lawyer, Mr. Johnmary Jideobi, has asked a Federal High Court in Abuja, for an order of perpetual injunction, restraining former President Goodluck Jonathan from presenting

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FG Inaugurates Expanded Negotiation Committee to Forestall ASUU, Other Unions’ Strike

Kuni Tyessi in Abuja

To forestall any strike by the Academic Staff Union of Universities (ASUU), the Federal Government has inaugurated the Mahmud Yayale Ahmed–led Expanded Negotiation Committee for Tertiary Institutions to accelerate discussions with the union and other unions across universities, polytechnics and colleges of education.

A statement on Tuesday by the Director, Press and Public Relations of the Federal Ministry of Education, Folasade Boriowo, said: “Speaking at the inauguration in Abuja, the Minister of Education, Dr. Tunji Alausa, said the new committee was established to harmonize all negotiation processes under a unified and coordinated framework that ensures institutional continuity and sector-wide inclusiveness.”

He explained that unlike in the past when negotiations were held separately with various unions, the expanded committee will engage all stakeholders collectively to achieve a comprehensive and sustainable agreement.

“The membership has been carefully selected to reflect the full spectrum of the education sector, ensuring that no group is left behind,” Alausa stated.

The minister disclosed that the committee has been provided with a fully equipped secretariat to aid its work and announced that its inaugural meeting will be held at 2 p.m. on Tuesday, October 7.

He urged all academic and non-academic unions to cooperate fully and respond promptly to the committee’s engagements.

According to him, President Bola Tinubu has given full political backing to the process, directing that all negotiations be concluded swiftly, fairly and in the spirit of mutual respect.

“President Tinubu’s message is clear — all our children must remain in school. This is the Renewed Hope Agenda in action,” Alausa said, appreciating the unions for their patience and commitment.

On his part, the Minister of Labour and Employment, Mohammed Maigari Dingyadi, commended the Ministry of Education for its inclusive approach and dedication to dialogue.

He emphasised that lasting peace in the education sector can only be achieved when all stakeholders are involved in the process.

Dingyadi charged members of the expanded committee to serve as impartial mediators guided by justice and fairness, adding that their early and active engagement will ensure the smooth implementation of final agreements.

The minister reaffirmed President Tinubu’s commitment to fair and lasting resolutions through dialogue, consultation and open communication to prevent future industrial actions.

Responding on behalf of the committee, the Chairman, Mahmud Yayale Ahmed, expressed gratitude to the Federal Government for the confidence reposed in them, pledging that the committee would discharge its duties with transparency, integrity and inclusiveness.

He assured Nigerians that the committee’s work would not only focus on reaching agreements but also on ensuring that recommendations are practical, realistic and capable of sustaining peace and productivity in the education sector.

The government reiterated its determination to restore stability and trust in the nation’s tertiary education system through inclusive dialogue and decisive leadership, in line with the Renewed Hope Agenda of President Tinubu, where every student stays in school, every teacher is valued, and every institution thrives in an atmosphere of peace and progress.

Kuni Tyessi in Abuja To forestall any strike by the Academic Staff Union of Universities (ASUU), the Federal Government has inaugurated the Mahmud Yayale Ahmed–led Expanded Negotiation Committee for Tertiary

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Court Restrains Faction from Organizing NYCN Election

Alex Enumah in Abuja

A High Court of the Federal Capital Territory (FCT) has halted the planned October 7 election of the National Youth Council of Nigeria (NYCN) by a faction led by Comrade Ademola Gbenga and others.

Justice J. E. Obanor, made the order in an exparte application delivered on October 6, 2025, in suit no: FCT/HC/CV/3803/2025 and motion no: M/12204/2025.

A Certified True Copy (CTC) of the ruling sighted by our correspondent, showed that the court also directed the Inspector General of Police and the Department of State Services (DSS) to enforce the court’s order.

The claimants/applicants in the case are the Incorporated Trustees of the National Youth Council of Nigeria (NYCN) and Ambassador Sukubo Sara-Igbe Sukubo, representing the existing leadership of the Council.

The defendants include Comr. Ademola Gbenga, Comr. Okechukwu Nnamene, Comr. Abel Abaji, Comr. Alex Allen Akin, Comr. Hassan Mamman, the Inspector General of Police, and the Department of State Services.

It would be recalled that the NYCN, during its National Elective Convention held in Yenagoa, Bayelsa State, from September 20 to 22, re-elected Ambassador Sukubo Sara-Igbe Sukubo as President alongside other executives.

However, dissatisfied with the Sukubo-led leadership, Gbenga and his allies formed a parallel group and planned to conduct another election in Abuja on October 7.

Consequently, the court ordered all parties to maintain the status quo regarding the leadership of the NYCN, pending the hearing and determination of the motion on notice.

The Order read in part, “Upon hearing the Motion Ex parte and the accompanying affidavit of. Amb. Sukubo Sara-Igbe Sukubo listening to P. Ulofu ESQ., of counsel to the Applicants praying this Honourable Court for the following:-

“An Order of Interim Injunction restraining the Respondents (Gbenga and others) or any person(s) acting through them or on their behalf from conducting the scheduled election of the October 7, 2025 or taking any further step concerning the subject matter of this suit respectively, pending the hearing and determination of the motion on Notice.

“An Order of Interim Injunction directing the Respondents to maintain the status quo with respect to the leadership of the National Youth Council of Nigeria, pending the determination of and determination of the motion on notice.

“An Order directing the 6th (IGP) and 7th (DSS) Defendants/Respondents to enforce the Order of Court restraining the 1st to 5th (Gbenga and others) Defendants, their privies, agents, or howsoever called, conducting the scheduled election of October 7, 2025 or taking any further step concerning the subject matter of this suit respectively pending the hearing and determination of the Motion on Notice.

“And for such further or other orders as this Honourable Court may deem fit to make in the circumstances of this suit and or application.

“The court ordered as follows: Application is hereby granted and order made as prayed. Case is adjourned to October 16, 2025 for hearing of Motion on Notice.”

Alex Enumah in Abuja A High Court of the Federal Capital Territory (FCT) has halted the planned October 7 election of the National Youth Council of Nigeria (NYCN) by a

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Ojulari: Nigeria Lost over 600,000 Barrels of Oil to PENGASSAN’s 3-day Strike

•Says 1.68mbpd of crude oil produced in September

•Gas output of 7bcf/day, highest in recent times achieved

•Attributes hike in LPG price to recent oil workers’ strike

•NNPC raises petrol price to N905 on union’s supply disruption

Deji Elumoye and Emmanuel Addeh in Abuja

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has disclosed that Nigeria lost 200,000 barrels per day of crude oil to the recent strike action embarked upon by the nation’s oil workers, culminating in a total of over 600,000 barrels during the three-day supply disruption.

The Petroleum and Natural Gas Senior Staff Association (PENGASSAN) had last month directed its members to embark on strike in the wake of a face off with the management of Dangote Refineries over the reported sack of 800 workers.

Reacting to the effect of the three-day strike action on the oil industry, Ojulari stated that the industrial action had a telling effect on the production capacity of the NNPC.

The GCEO who spoke with newsmen after meeting with President Bola Tinubu in Lagos while describing the strike action as unfortunate stated that Nigeria has recently achieved a 7 Billion Cubic Feet (BCF) of gas.

“I think it was unfortunate that the Dangote and PENGASSAN issue led to strike and whenever there is strike and critical staff manning critical facilities are not available and optimum production is almost impossible. In this particular case, we actually lost significant production of over 200,000 bpd that was deferred.

“We also have gas production that was deferred, we also have power generation that was impacted by about 1.2 megawatts of power that was affected by that strike,” he said.

He, however, expressed happiness that the crisis had been resolved through the timely intervention of the federal government via the Federal Ministry of Labour and the Office of the National Security Adviser (NSA).

Ojulari added: “I’m very pleased that the federal government through the leadership of the Minister of Labour and full support of the National Security Adviser was able to put together everyone into a dialogue and brought everybody to the table and now there has been a communiqué that has been agreed on the way forward.

“We are all very hopeful that everyone will abide by the communique, since then we have been able to return production back to status quo, there has been one or two areas that we are still trying to catch up with. Overall, we have gradually gone back to restore lost production and the deferment that we have as of today,” he added.

Ojulari further stated that Nigeria has been able to step up crude oil production with effect from last month, saying 1.68 million barrels per day were produced in September, 2025 while 7 billion cubic feet of gas was also produced per day during the same period.

“We are making good progress. As you know, we recorded 1.68mbpd of oil production last month which was very good. That was the first in about five years. In terms of milestones, we also recorded the highest gas production above 7 Billion Cubic Feet per day which is also the highest in recent times.

“What we are also expecting is that with some Turnaround Maintenance we have done in August and September and all of those are meant to come back this month, we are hoping that by the end of the year we should at least be clocking 1.8mbpd,” the NNPC chief executive stated.

He attributed the current hike in price of cooking gas to the artificial scarcity caused by the recent PENGASSAN strike, but expressed hope that the price will stabilise before long with the resolution of the crisis.

“The increase you saw was relatively artificial because for the period of the strike, movement and loading were delayed for about two to three days and because of that you see that impact and as things return to normal it takes sometimes for distribution to fully return and you see with that delay some of the people that have existing resources in reserves had to put up the price.

“My expectation is that now that things are back to normal prices it should return to what they were before the strike,” Ojulari added.

Asked the purpose of his visit to the President, Ojulari said it was a routine visit to update him about developments in the oil sector, especially the task given to him to attract investors.

“It is quite an important opportunity to update the president on the progress in NNPC particularly in terms of production performance, in terms of progress we are making in terms of attracting investment.

“As you recall, the President gave us a clear mandate which is to grow production to at least 2 million bpd by 2027 and up to 3 million bpd by 2030 as well as grow gas production as well. So, how are we progressing this year and how are we preparing for next year in terms of ensuring we deliver this growth? So, that was one of my updates to the President,” the engineer noted.

Meanwhile, the NNPC has once again raised the pump price of Premium Motor Spirit (PMS), popularly known as petrol, at its retail outlets, as light queues returned following the PENGASSAN and Dangote

It was learnt that NNPC stations in Abuja, especially in Wuse Zone 6 and Zone 4 areas had adjusted their pump price from N890 to N905 per litre, representing a N15 increase, or roughly 1.7 per cent upward review.

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, attributed the latest price hike to recent supply disruptions caused by the standoff between PENGASSAN and the Dangote Refinery.

He said: “It is due to PENGASSAN’s strike disruption. However, our members are still selling between N885 and N895 per litre,” the IPMAN chief said.

•Says 1.68mbpd of crude oil produced in September •Gas output of 7bcf/day, highest in recent times achieved •Attributes hike in LPG price to recent oil workers’ strike •NNPC raises petrol

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President Rallies Support for Dangote, Highlights His Contributions to Economy

•Declares Nigeria greater than PENGASSAN

•Describes Africa’s richest man as an institution, tasks NESG on industrial harmony

•Abubakar Bagudu: Poverty elimination, $1tn economy realisable by 2030

Deji Elumoye and James Emejo in Abuja

President Bola Ahmed Tinubu yesterday rallied Nigerians to support and appreciate the contributions of the President of Dangote Group, Alhaji Aliko Dangote, especially given his contributions to the nation’s economy.

Speaking at the opening of the 31st Nigerian Economic Summit (NES#31) with the theme: “Building a Prosperous and Inclusive Nigeria by 2030,” in Abuja, Tinubu said Dangote remained the leading light in the country’s economic development trajectory, adding that “how we treat this gentleman will determine how outsiders will judge us”.

The President’s remarks came against the backdrop of a series of antagonism against Africa’s richest man by some business interests and labour unions in the oil sector, the latest being the dispute between Dangote and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which has now been resolved.

Describing Dangote as an institution rather than an individual, Tinubu said: “I wish to call for caution, retrospection, and a sense of accountability from all the organised and independent private sector as they participate in defining and improving the relationship between people and industry, in the interest of maintaining and sustainably improving economic cultures.”

Represented by Vice President Kashim Shetima, the President further declared that “Nigeria is greater than PENGASSAN.”

The president said: “If he (Dangote) had invested $10 billion in Microsoft, in Amazon, in Google, probably he might be worth $70 billion to $80 billion by now. But he opted to invest in this country, and we owe it to future generations to generously protect, promote, preserve, and protect the interests of this very Nigerian.

“Nigeria is greater than each and every one of us. I’m not coming to you as a partisan. I’m coming to you as a person in search of solutions to our national challenges.”

This came as the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said the federal government remained ambitious and certain to eliminate poverty as well as achieve the $1 trillion economy by 2030.

However, Tinubu vowed that the government will humanise governance so that every citizen feels respected and served.

He said: “I wish to re-emphasise that in the interest of improving the cultures, the government is hereby tasking the Nigerian Economic Summit Group to take more than a passing interest in the matter.

“The government will expect far-reaching recommendations from the NESG in addressing this issue, even as the government is also taking steps to protect the industry and ensure the industrial harmony for the whole population of Nigeria.”

Nonetheless, Tinubu said while the country’s challenges are daunting, they are not insurmountable, noting that the ticket to achieving inclusive and lasting prosperity depended on a series of sound policies, strong partnerships, and the commitment of the private sector.

He said: “We are not condemned to low growth, high costs, and low trust. We will stabilise. We will industrialise. We will humanise our economy. We will stabilise prices and the currency. We will industrialise through power, logistics, and technology. We will humanise governance so that every citizen feels respected and served.”

The President said there’s a resounding consensus that recent reforms have stabilised the macroeconomic environment, with the economy expanding to N372.8 trillion in 2024, up from N309.5 trillion in 2023.

He said total revenue collection also rose from N19.9 trillion in 2023 to N25.2 trillion in 2024, adding that as of August 2025, it had reached N27.8 trillion, surpassing the revenue target of N18.32 trillion.

Tinubu further pointed out that these triumphs and projections are guided by his administration’s promise to the nation—to grow the debt service-to-revenue ratio from 97 per cent, where we met it, to a sustainable level.

He said: “Aside from the good news that this ratio has now reduced to less than 50 per cent, I am proud to share that this performance, in our early days in office, inspired Fitch to upgrade Nigeria’s sovereign rating to B with a stable outlook, and Moody’s to lift our issuer rating to B3 with a stable outlook. Both praised our improved economic foresight and clearer policy direction as their barometers.

“The reforms championed by my administration have begun to yield tangible results across sectors and beyond the GDP growth of 4.23 per cent recorded in September 2025—a number which surpasses projections from multilateral agencies and local think tanks. Non-oil revenues grew by 411 per cent year on year in the same month, while the tax-to-GDP ratio now nudges 13.5 per cent, up from barely seven per cent a few years ago.

“Our debt-to-GDP ratio now stands at 38.8 per cent, far below the limits set by the Fiscal Responsibility Act at 60 per cent, and those of ECOWAS and the World Bank at 70 per cent. These numbers tell the story of a nation prepared for the present; they represent the promise we made to Nigerians.

“We came to office fully aware that the secret to a successful federation lies in empowering each federating unit with the resources and autonomy to pursue development peculiar to its needs. This is why we increased the states’ monthly allocations, giving them room to fund critical projects and social interventions.

“Simultaneously, our commitment to redeeming our industrial and infrastructural deficits has enhanced productivity across sectors. We are now producing an average of 1.8 million barrels of oil per day and are working towards achieving 2 million barrels per day by the end of the 2025 fiscal year.

“As experts in the economy, you know more than the average citizen that the stability in our foreign exchange market is not accidental. It reflects deliberate choices guided by the same economic wisdom that gatherings such as this embody.

“Along with subsidy removal, these decisions have rescued our public finances, stabilised the economy, and reassured investors at home and abroad. We owe this progress to the sacrifices of Nigerians, whose patience and understanding have been the bedrock of our endurance. To them, I say: the better days we promised are already within sight.”

Continuing, Tinubu said through these reforms, Nigeria’s external reserves have grown to $43 billion as of September 2025, while trade balance also improved to N7.46 trillion in the second quarter of 2025, up from N5.17 trillion in the first quarter.

“We have recorded a strong GDP growth rate of about 7 per cent. I admit that this growth has not yet fully translated into enough jobs for our people, but we are closing that gap. We are giving priority to agriculture and solid minerals, two sectors with great potential to create jobs and strengthen our economy. To move faster, we have entered into partnerships with other countries to bring in modern farming equipment, train our farmers, and expand extension services across the nation.

“Our reforms are deliberately cross-sectoral because we understand that diversification is the only pathway to sustainable growth. The contribution of the Ministry of Solid Minerals Development to the Federation Account has improved remarkably, with the sector generating N12.58 billion in 2024 through mineral title applications and related fees. This is a sign of the sector’s awakening and the result of deliberate reforms aimed at unlocking its full potential,” he emphasised.

As a people-oriented government, he said the priority remains restoring hope to the unemployed, the poor, the excluded, and the vulnerable, as the government has created pathways for young Nigerians to access grants, loans, and equity investments of up to $100,000 to scale their enterprises, innovate, and build sustainable livelihoods.

“We established a N200 billion intervention fund to support micro, small, and medium enterprises and manufacturers, helping them overcome structural challenges and enhance competitiveness.

“Our expansion of digital micro-loan access has improved financial inclusion, empowering small businesses and stimulating community-level productivity. These efforts underline our commitment to an economy that works for all Nigerians,” he pointed out.

The President resident further pointed out that the four Tax Reform Acts recently signed into law, including the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act, and the Joint Revenue Board (Establishment) Act—represened a bold recalibration of our fiscal architecture.

He said the new tax regime will boost domestic revenue mobilisation, reduce dependence on oil, and simplify compliance, explaining that these reforms protect low-income earners, ensure fairness in corporate taxation, and strengthen digital innovation in tax administration.

He said: “By promoting transparency and coordination among all tiers of government, we are laying the foundation for a fairer and more prosperous Nigeria.

“To improve connectivity and ease of movement, we are constructing highways, bridges, and rail lines across states, including interstate terminals, with over 440 ongoing road projects covering more than 2,700 kilometres of superhighways nationwide. These investments in infrastructure are the arteries of national prosperity, facilitating commerce and strengthening unity.

“The government has also unveiled the Renewed Hope Ward-Based Development Programme, a people-centred initiative designed to empower citizens at the grassroots. By targeting all 8,809 wards across the 774 Local Government Areas, the programme seeks to map local economic activities, human capital, infrastructure, and resource endowment, ensuring no community is left behind.

“Modelled after successful frameworks in China, India, and Kenya, it represents a bottom-up approach to addressing multidimensional poverty through participatory development. Community leaders, residents, and ward representatives will identify local priorities that feed into Local Government, State, and National Plans to ensure alignment and sustainability.

“To realise these noble goals, sub-national governments must play an active role. At the federal level, our commitment remains unshaken. We continue to strengthen coordination, policy coherence, and implementation across institutions. We therefore call on states to align with the Renewed Hope Agenda in the collective pursuit of a future where every Nigerian can thrive.”

Besides, in his opening remarks at the summit, Bagudu further reaffirmed the administration’s unwavering commitment to fostering sustainable inclusive economic growth, enhancing macroeconomic predictability, and improving the welfare of all Nigerians.

The minister said the economic reforms and policy initiatives being implemented are designed to address structural weaknesses, enhance productivity, and position Nigeria for long-term prosperity, noting that “results of the last two years have given us confidence”.

He said: “While we recognise the short-term hardships on our people, we are confident that our policies will yield tangible benefits over time. The stabilisation of the exchange rate, declining inflationary pressures, and improvements in fiscal management are already setting the stage for a more resilient and diversified economy.

“Our focus remains on driving job creation, reducing poverty, increasing non-oil revenue, and improving our external financial position. We are taking development to the grassroot via the Renewed Hope Ward Development Programme.”

The minister called on the private sector, development partners, and all Nigerians to support these efforts, adding that the journey towards economic transformation required collective commitment, innovation, and perseverance.

He said: “We are committed to a measured and deliberate path forward, ensuring each step is meticulously assessed. We must, therefore, remain resolute in our current strategy. While the necessary exchange rate unification policy led to a significant 125.2 per cent depreciation of the naira, from N672.85 per dollar in 2023 to N1,515.43 in 2024, stability is emerging.

“The exchange rate averaged N1,534.82 per dollar in December 2024 and strengthened to N1,493.99 per dollar by September 2025. This reflects an appreciation of 2.71 per cent, signaling the effectiveness of our stabilisation measures and a positive outlook for the economy.”

On inflation and cost of living, Bagudu said that despite persistent inflationary pressures, recent data presents encouraging signs of moderation.

He affirmed: “Headline inflation, measured year-on-year, decreased to 20.12 per cent in August 2025, a notable reduction from 32.15 per cent in August 2024 and 21.88 per cent in July 2025.

“This downward trend, reflected in the newly rebased Consumer Price Index (CPI), suggests a gradual easing of the cost of living. Particularly significant is the deceleration in food Inflation, which declined to 21.87 percent in August 2025 from 37.52 per cent in August 2024

“This trend will be sustained with deliberate policies to alleviate pressure on household budgets, stimulate consumer spending, and create a more conducive environment for economic growth. The reduction in inflationary pressures could also lead to more predictable economic planning, and a higher chance of increased investment, both domestic and foreign.”

•Declares Nigeria greater than PENGASSAN •Describes Africa’s richest man as an institution, tasks NESG on industrial harmony •Abubakar Bagudu: Poverty elimination, $1tn economy realisable by 2030 Deji Elumoye and James

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October 7, 2025
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Barau: North’ll Repay Tinubu’s Kindness in 2027

Sunday Aborisade in Abuja

Deputy President of the Senate, Senator Jibrin Barau, has pledged that the people of Kano State and the entire northern Nigeria would reciprocate President Bola Tinubu’s goodwill and developmental gestures with massive political support in the 2027 general election.

Barau, according to his Media Aide, Ismail Mudashir, in a statement, gave the assurance yesterday during the launch of his annual undergraduate scholarship programme at the newly renamed Yusuf Maitama Sule Federal University of Education, Kano.

The statement explained that the event was attended by top political and academic figures, including the Minister of State for Housing and Urban Development, Rt. Hon. Yusuf Abdullahi Ata.

Others were the Kano State APC Chairman, Prince Abdullahi Abbas; the Vice-Chancellor, Prof. Abdullahi Tukur Kadage; and the Chairman of ASUU, Comrade Ado Muhammad Abdullahi — all of whom lauded President Tinubu’s developmental initiatives in the North.

Barau expressed deep appreciation to the President for approving the upgrade of the institution from a college to a full-fledged university, saying the request had lingered for nearly a decade.

“I would like to thank Mr. President, the president of our country, the president that we are all proud of the president, who loves Kano, who loves Northern Nigeria, and who loves Nigeria,

“He graciously approved our long-standing request to upgrade this institution to a university, and for that, we remain deeply grateful.”

He added that President Tinubu’s approval reflected his administration’s strong commitment to education and human capital development.

Barau said, “The rain that beats you is the real rain. We have never asked or canvassed for anything from Mr President, and he said no. Why shouldn’t we love him? We have to reciprocate, and we are waiting for the time to do that, come 2027.”

He also commended Tinubu for approving the renaming of the university after the late Alhaji Yusuf Maitama Sule, a revered statesman and former minister from Kano, noting that the gesture was a mark of respect for northern heritage and leadership values.

“When I presented a request to President Tinubu to name this institution after our elder statesman, he immediately approved it. This is how he continues to demonstrate love and respect for Kano and our heroes.”

Barau, who described Tinubu as the “grandfather of the institution” and himself as its “father,” announced scholarships for 1,000 students from Kano North Senatorial District, with plans to extend the scheme across the state.

“Education is the bedrock of every society. If I, as a grandfather and a PhD student, can continue to pursue learning, then there is no reason for any young person to relent,” he said.

He reaffirmed that sustained investment in education was the surest way to empower communities and secure long-term progress.

In his remarks, APC Chairman, Abdullahi Abbas, commended President Tinubu for his interventions in Kano and the North, while Minister Yusuf Abdullahi Ata, described the president’s actions as evidence of his inclusive leadership.

Vice Chancellor Prof. Kadage also hailed Barau for his “visionary leadership and unwavering support,” recalling that the university’s establishment originated from a bill sponsored by the Deputy Senate President in the National Assembly.

Sunday Aborisade in Abuja Deputy President of the Senate, Senator Jibrin Barau, has pledged that the people of Kano State and the entire northern Nigeria would reciprocate President Bola Tinubu’s

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October 7, 2025
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Terminally Ill Retired AVM Dies Onboard British Airways

•Aircraft makes emergency landing in Barcelona

•Crew battled to save his life

Kasim Sumaina in Abuja

A retired Nigerian Air Vice Marshal (AVM) has reportedly died on board a British Airways flight to Abuja as the crew of the airline battled to save his life.

The plane carrying the deceased made an emergency landing at the El Prat Airport, Barcelona, as they struggled to resuscitate the ailing military officer.

The airline’s Regional Commercial Manager for Nigeria & Ghana, Mrs. Tutu Otuyalo, was reported to have confirmed the incident, saying that the deceased was terminally ill.

The flight, which departed London’s Heathrow Airport at 11 pm on Sunday, October 5, was scheduled to land in Abuja at 5 am on Monday but made an unexpected detour to Barcelona after the incident.

It was, however, gathered that the terminally ill retired AVM was being transported back to Abuja for further medication before his sudden demise.

British Airways had already apologised to traumatised passengers, even it disclosed that a new aircraft was to depart Barcelona for Abuja yesterday.

According to messages shared with the passengers, the airline apologised for the disruption and assured them that its Customer Care team would be available to assist with any questions or concerns.

“Passengers are advised to expect an email with more information and can reach out to the airline’s Live Chat feature for support.

“British Airways acknowledges the inconvenience and thanks passengers for their patience and understanding,” the airline told the affected passengers in a general message.

Azu Ishiekwene Releases New Book on Midlifers and Technology

Journalist, columnist and author, Azu Ishiekwene, has released a new book, entitled A Midlifer’s Guide to Content Creation and Profit.

The 10-chapter book focuses on how older adults can profitably interact with and expand their frontiers in the evolving new media landscape, particularly in light of the complex and promising developments of generative artificial intelligence (AI).

In a statement, Ishiekwene, fondly called Azu, said, “It shares insights with midlifers on the possibilities for rewarding their mental exertions handsomely, whether literary, artistic or acoustic talent, or the sheer capacity to curate and tell a good story from their experiences using new technologies.”

The book, published by Premium Times Books, is a sequel to “Writing for Media and Monetising It,” published in 2024, and is considered a practical and valuable text for young adults in the media and literary fields.

In the foreword, historian of African Studies and distinguished teaching professor in Humanities, Toyin Falola, said, “The book is a groundbreaking book that challenges the widespread belief, especially among the older generation (Gen X), that aspirations should diminish after the age of 50.”

The Publisher of Premium Times, Dapo Olorunyomi, said, “It’s another masterpiece from Azu, who is gaining new heights not only in the mastery of new media forms, but also in his capacity to share his insights in meaningful ways.”

As part of his interest in new media, Azu has also published a workbook on content monetisation, given several lectures, and co-authored a scholarly article with Prof. Farooq Kperogi, entitled “Light in a Digital Black Hole: Exploration of Emergent Artificial Intelligence Journalism in Nigeria,” published in the Journal of Applied Journalism and Media Studies.

His new book, A Midlifer’s Guide to Content Creation and Profit, can be accessed on www.azu.media and other global distribution platforms, the statement said.

•Aircraft makes emergency landing in Barcelona •Crew battled to save his life Kasim Sumaina in Abuja A retired Nigerian Air Vice Marshal (AVM) has reportedly died on board a British