Seven Super Falcons players from Imo State hosted by Gov Uzodinma
Imo State Governor Hope Uzodinma has hosted seven Super Falcons players from the state. The players of Imo origin were hosted at the Imo State Governor’s Lodge in Owerri. The Super Falcons made history by winning the Women’s Africa Cup of Nations, WAFCON, in Morocco. The players from Imo State, who were hosted by the
Seven Super Falcons players from Imo State hosted by Gov Uzodinma
Imo State Governor Hope Uzodinma has hosted seven Super Falcons players from the state.
The players of Imo origin were hosted at the Imo State Governor’s Lodge in Owerri.
The Super Falcons made history by winning the Women’s Africa Cup of Nations, WAFCON, in Morocco.
The players from Imo State, who were hosted by the governor, are Chiamaka Nnadozie, Jennifer Echegini, Osinachi Ohale, Oluchi Oluehi, Chinwendu Ihezuo, and Anna Imo.
The seventh Imo Super Falcons player, Michelle Alozie was absent, as she had returned to her base in the United States.
The governor noted that the Super Falcons’ victory has rekindled national pride, saying it is a testament to what can be achieved when commitment and discipline come together.
He said in a statement on his official X handle on Tuesday, “The steeze and composure displayed by the Super Falcons were unmatched. Even in moments when the nation was filled with apprehension, they stood firm.
“Hosting the team at the Imo State Governor’s lodge was a moment of profound joy. It was particularly moving to witness the outstanding contributions of Imo State daughters, whose talent and dedication were in full display.”
The Super Falcons triumphed over Morocco with a 3-2 scoreline in the final, thereby claiming their record-extending 10th WAFCON title.
The team was celebrated upon their return to Nigeria, with President Bola Tinubu hosting them at the Presidential Villa after their victory parade.
Some notable players received individual awards for their outstanding performances.
Seven Super Falcons players from Imo State hosted by Gov Uzodinma
IMF Upgrades Nigeria’s 2025 Growth Outlook to 3.4%, 3.2% for 2026
IMF Upgrades Nigeria’s 2025 Growth Outlook to 3.4%, 3.2% for 2026
•Reiterate calls for structural reforms to spur Africa’s growth
•Rewane: Nigeria’s economy can’t record significant growth without fixing electricity
Chuks Okocha in Abuja and Nume Ekeghe in Lagos
The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast upward, projecting a Gross Domestic Product (GDP) growth of 3.4 per cent in 2025 and 3.2 per cent in 2026.
This comes as an economics and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, emphasised the need for Nigeria to resolve its lingering power supply issues, saying continued outages pose a significant threat to national economic growth.
The revision by the IMF was contained in the IMF’s latest World Economic Outlook (WEO) released yesterday, titled “Global Economy: Tenuous Resilience amid Persistent Uncertainty.”
The latest prediction was a 0.4 percentage point uptick from the earlier three per cent growth forecast for 2025, and a 0.5 percentage point revision from the 2.7 per cent projection for 2026, as published in the April edition of the WEO.
However, the multilateral institution called for urgent structural and institutional reforms across Sub-Saharan Africa (SSA) as the region grapples with a complex mix of economic challenges.
Commenting on the SSA region, at the virtual unveiling of the WEO update yesterday, Division Chief, Research Department, Deniz Igan said: “Given the challenges Sub-Saharan Africa is facing, this is an important pillar for renewed growth in the region. There’s a need for both structural and institutional reforms. And what we mean there is to give some specific examples.
“Further, regional trade integration is one. More investment in infrastructure transportation is another one. And reform of state-owned enterprises, again, especially in the energy sector and transportation sector, are another priority.”
Igan also stressed the importance of equitable fiscal reforms, noting that efforts to raise revenues must avoid deepening inequality or triggering social unrest.
She advocated for the removal of poorly targeted tax exemptions, greater reliance on progressive income taxes, and the need to build public trust through transparent governance. According to her, engaging with stakeholders and sequencing reforms carefully would be essential to protect vulnerable groups and ensure broad-based support for policy changes.
“Now we understand that on the fiscal front, with high debt levels as well, there’s a need for mobilising revenues, and that can generate a sense of unfairness and inequity that could create social backlash.
“And on that front, our advice has been for the design of fiscal reforms that are equitable, that are efficient, and more specifically, there. What we have in mind is removing poorly targeted exemptions in the tax code, making use of progressive income taxes much more, and building trust and support, as we had covered in detail in our October 2024 report in one of our analytical chapters, by engaging with stakeholders, hearing what they need, improving governance and protecting the vulnerable, and at same time, bundling, sequencing and pacing different measures to make sure that the most vulnerable in the society are protected.”
On his part, Director, Research Department, IMF, Pierre-Olivier Gourinchas, reinforced the urgency of restoring fiscal space in many economies, warning that high debt levels and persistent deficits have left countries exposed to sudden shifts in global financial conditions. He emphasised that protecting central bank independence is critical to maintaining price stability and investor confidence.
He said: “In too many countries, the combination of high public debt and still elevated public deficits continues to be a cause for concern. The lack of fiscal space makes these countries especially vulnerable to a sudden tightening in financial conditions.
“Such tightening becomes even more likely if central bank independence a cornerstone of macroeconomic, monetary and financial stability- is undermined. Turning to policies, our recommendations continue to call for prudence and the need for improved collaboration.”
He reiterated that restoring stability in trade policy was essential to reducing policy uncertainty.
He added: “We urge all parties to settle trade disputes and agree on clear and predictable frameworks. Collective efforts should be made to restore and improve the global trading system.
“The need for predictable and stable rules extends to other areas of policymaking. It is important to reaffirm and preserve the principle of central bank independence.
“The evidence is overwhelming that independent central banks, with a narrow mandate to pursue price and economic stability, are essential to anchoring inflation expectations. “That central banks around the world achieved a successful ‘soft landing’ despite the recent surge in inflation owes a great deal to their independence and hard-earned credibility.
“Restoring fiscal space remains a priority for many countries. Even where new spending needs are emerging, efforts must be made to implement gradual and credible consolidation while protecting growth.
“Lastly as global growth remains tepid, more efforts must be made to increase long-term productivity through structural reforms, Gourinchas said.
Meanwhile, Rewane has emphasised the need for Nigeria to resolve its lingering power supply issues, saying continued outages pose a significant threat to national economic growth.
Rewane made the call yesterday when he appeared on a national television.
Rewane stressed the impact of sustained power outage on Nigeria’s GDP, especially in key economic hubs like Lagos and Ogun States.
“There is the opportunity cost, and there is a cost. The cost is that Lagos and Ogun States may constitute about 30% of Nigeria’s GDP. So, if you’re going to have one month of power outage, the impact is effectively one-twelfth of 30 percent—which is significant,” he said.
According to him, Nigeria’s power challenges are deeply rooted and multi-dimensional, citing issues such as cultural barriers, tariff imbalances, underinvestment, and debt forbearance within the sector.
“You cannot grow the economy with what we’ve seen today without a broad power solution. If there is a power outage in Nigeria, it must be resolved—no question. You can’t put a Band-Aid on it. It has to be done, and it has to be done now,” he added.
Speaking on economic performance, the expert stated that the economy recorded a 3.13 percent growth in the first quarter of the year.
He also observed shifts within the economy, noting that manufacturing’s contribution has declined, while agriculture has grown in visibility, and the service sector remains the primary driver of economic activity.
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•Reiterate calls for structural reforms to spur Africa’s growth •Rewane: Nigeria’s economy can’t record significant growth without fixing electricity Chuks Okocha in Abuja and Nume Ekeghe in Lagos The International
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Nwosu: I Was Offered 3 Ministerial Slots to Decline Use of ADC as Coalition Party
Nwosu: I Was Offered 3 Ministerial Slots to Decline Use of ADC as Coalition Party
•NEC formally hands over party to Mark, seven INEC officials monitor meeting
Chuks Okocha in Abuja
Former National Chairman of African Democratic Congress (ADC), Ralph Nwosu, has disclosed that he was offered three ministerial slots by persons in government to decline the use of ADC as opposition coalition platform.
The revelation emerged as National Executive Committee (NEC) of ADC formally handed over the party’s leadership to former Senate President David Mark at a meeting, where former Osun State governor, Rauf Aregbesola, was also pronounced National Secretary of the party.
Giving insights into how some government officials from All Progressives Congress (APC), allegedly, tried to stop the establishment of the coalition party, Nwosu confirmed that the party’s NEC was monitored by seven officials of the Independent National Electoral Commission (INEC).
On July 2, ADC officially transformed into the coalition party, with Mark as interim National Chairman.
Speaking at the last NEC that officially handed over the affairs of ADC to the Mark-led executive, Nwosu said senior government officials promised him three ministerial slots by 2027 if he rejected the idea of using ADC as the coalition party.
He said, “Some people tried to discourage us with promises of automatic ministerial appointments. They want to give me three ministerial slots so that I can take one and give two to others that I chose.
“But I said no. I chose a democratic future of Nigeria. Nigeria cannot be a one-party state after all we did to ensure that the military was exited from governance and returned to the barracks
“By rejecting the offers, the ADC is now the party with the largest membership. ADC is now the government in waiting, with 28 senators and more than 60 members of the House of Representatives
“ADC grew from one small party to a very large party now. Nigerians have shown that they detest what the party in government is doing right now.”
Nwosu added, “We were worried by the declining fortunes of our democracy. That is why ADC stood strong in navigating the coalition process
“Some of our people are being kidnapped. But we insist on the coalition in the best interest. They use government money to book places for their agents of destabilisation.”
Nwosu said INEC was invited as a regulatory agency to see the formal handing over of the affairs of the party to the Mark-led interim national executive.
He explained, “We all made commitments that we are stepping down as NWC and NEC members. We are very careful with the kind of people we are going to choose to lead the party because a single bed person can spoil the whole good job that must have been done.
“Our constitution says all elected members, serving and non-serving, are NEC members. The last NEC meeting gave the NWC mandate to go ahead with the coalition talks.”
Nwosu stated that the party surged to over three million membership within the first two weeks of the announcement of the coalition.
THISDAY gathered that the objective of the formal handover of ADC’s structures to the Mark-led executive was to bring a definitive conclusion to questions that might have arisen around the state of the opposition alliance. This was particularly in view of insinuations by some persons, like the presidential candidate of ADC in 2023, Dumebi Kachikwu, who had continued to allege usurpation.
The first motion for the final handover was moved by the zonal chairman, South-west, Razzaq Eyiowuawi, while the chairman of the party in Zamfara State, Kabiru Garba, moved that all those expelled in 2022 be recalled.
By that development, all those suspended were recalled.
The second motion was moved by outgoing National Organising Secretary, Suleman Ibrahim, who stated that the NWC headed by Nwosu be dissolved
The motion was seconded by Dr. Charles Idowu from Osun State and the NWC became dissolved, with the tenure elapsed effective July 29, 2025.
The motion was put to vote and it was carried out.
The National Caretaker Committee led by Mark subsequently announced that the national secretary was officially Aregbesola. Bolaji Abdullahi was named National Publicity Secretary, alongside deputy national chairmen from the six geopolitical zones.
All members of ADC National Caretaker Committee were later admitted to an oath of office
In his acceptance speech, Mark said his appointment was the dawn of a new chapter.
He said, “It is with profound gratitude, humility, and a deep sense of duty that I address you as the National Chairman of the African Democratic Congress (ADC). I am honoured by the confidence reposed in me, and I pledge before you to serve this party with integrity, transparency, courage, and vision.
‘’Today marks not just the beginning of a new NEC session, but the dawn of a new chapter in ADC; a chapter that we must write together with courage, unity and conviction.
“I wish to acknowledge the hard work, patriotism, sacrifices and dedication of Hon. Ralph Nwosu and his team, who over the years built this party and were relinquishing leadership to our team in the interest of this country.
“Our leaders and all loyal members who contributed in any way to the growth of this political family also deserve our commendation.
“I assure you that under my leadership, we shall be committed to full democratic practices and principles that abhor imposition and special privileges. Internal democracy, transparency and accountability will be our mantra.”
The former senate president added, “We will guarantee collective leadership at all levels. We will build a technically competent bureaucracy for the party and ensure a structured financing. All members will truly own the party.
“We will be fair and just to all party members. We promise to be totally transparent. ADC will have zero tolerance for anti-party and other forms of indiscipline.
“We shall revamp our grassroots leadership structures to reflect modern realities. From the polling units, wards up to the national level, every organ will be re-energised.
“We will open the gates for the next generation. Our policies, nominations, and leadership roles will reflect meaningful inclusion of youths and women and not just tokenism.
“This is why we have reserved 35 per cent of our leadership positions for women. It is also our commitment to have youths below the age of 40 years in our leadership.”
Mark stated, “Within the shortest possible time, the NWC will raise committees to review the manifesto and the constitution of our party to meet and reflect the aspirations of the Nigerian people.
“We shall clearly articulate what we stand for. Nigerians must know us as a party driven by unblemished ideology, progressive policies, and patriotic governance. We will not leave it to the discretion of individual candidate to choose what to do with power.
“Therefore, in the coming days, we shall announce a 50-Member Policy Committee to cover health, education, agriculture, technology, security, economy, infrastructure and other services.
“This underlines ADC’s focus in achieving good governance for Nigerians.
“Finally, we invite all Nigerians to join our party. ADC is the only party that guarantees equal opportunity to everyone regardless of age, gender, religion or region. Our handshake is across all divides.”
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•NEC formally hands over party to Mark, seven INEC officials monitor meeting Chuks Okocha in Abuja Former National Chairman of African Democratic Congress (ADC), Ralph Nwosu, has disclosed that he
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FG Lauds Dangote Refinery’s Engineering Excellence, Human Capital Development
FG Lauds Dangote Refinery’s Engineering Excellence, Human Capital Development
•Our engineers are now expatriates in UAE, other countries, says Dangote Group
Peter Uzoho
The federal government has commended the Dangote Petroleum Refinery for its outstanding engineering achievements and significant investment in developing young Nigerian talents.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, gave the praises during her official visit to the state-of-the-art facility at the Lekki Free Trade Zone, Lagos, according to a statement by Dangote Group.
Oduwole was also quoted to have lauded the refinery for its dual focus on world-class infrastructure and exceptional investment in human capital.
The minister expressed admiration for the vast scale of the physical infrastructure, describing it as “bricks, mortar, and pipelines of extraordinary ambition” but also for the calibre of talent operating it.”
“We are not just appreciating the scale of the infrastructure: the bricks, mortar, and pipelines,” the Minister said.
“We are equally impressed by the investment in human capital. It is deeply inspiring to see young Nigerians, many of whom have never left the country, operating world-class equipment with remarkable skill and professionalism,” she stated.
Oduwole, a senior university lecturer, highlighted the significance of such a development in the context of national capacity-building.
“As a lecturer myself, I take great pride in witnessing their excellence in engineering. It is nothing short of exceptional,” she added.
She also praised Africa’s richest man and the visionary behind the project, Aliko Dangote, for his continued commitment to industrial transformation in Nigeria.
“Listening to Alhaji Dangote speak about this project is always a source of inspiration. This is not just a refinery—it is a bold statement of what is possible. This is Lagos, Nigeria, and there is truly nowhere else in the world with a facility of this kind at this scale,” the minister added.
In his presentation to the minister, Vice President, Oil & Gas at Dangote Industries Limited, Mr. Edwin Devakumar, highlighted the world-class capabilities of the 650,000 barrels per day (bpd) Dangote Petroleum Refinery.
According to Devakumar, the refinery produces Euro-V quality petrol, diesel, jet fuel, and polypropylene, meeting 100 per cent of Nigeria’s domestic demand for refined petroleum products, with surplus available for export.
He emphasised that the refinery incorporates the latest technologies to ensure environmental compliance while delivering clean, globally competitive fuels.
He noted that the refinery includes a fully self-sufficient marine terminal for crude oil offtake and product loading, as well as an integrated steam and power generation system with a 435 megawatts (MW) capacity—enough to supply the entire electricity demand of the Ibadan Electricity Distribution Company (IBEDC), which covers Oyo, Ogun, Osun, Kwara, and Ekiti States.
“We are one of the very few companies in the world to have executed both a petroleum refinery and a petrochemical complex directly as an EPC contractor.
“We sent engineers for overseas training and employed around 60,000 skilled Nigerians during construction, offering them valuable experience in various aspects of construction, testing, and commissioning,” he said.
Devakumar added that many of the Nigerian engineers, technicians, and others trained by the company were now working as expatriates not just across Africa, but as far afield as the United Arab Emirates (UAE), contributing to Nigeria’s foreign remittance inflow.
The statement recalled that Dangote Petroleum Refinery and Dangote Fertiliser Limited have been widely commended for their commitment to hiring and nurturing Nigerian engineers.
Most recently, the Nigerian Content Development and Monitoring Board (NCDMB), led by its Executive Secretary, Felix Ogbe, had praised the company for its efforts in developing young engineering talents.
Similarly, the League of Engineering Bodies in Nigeria, including the Nigerian Society of Engineers (NSE), the Nigerian Academy of Engineering (NAE), the Association of Consulting Engineering in Nigeria (ACEN), and the Council for the Regulation of Engineering in Nigeria (COREN), had equally expressed admiration for the facilities during a visit to the facilities.
The delegation lauded the active engagement of Nigerian engineers in the construction, commissioning, and operation of the plants.
The Dangote Petroleum Refinery, the largest single-train refinery globally, has been hailed as a game-changing project set to enhance Nigeria’s self-sufficiency in refined petroleum products, reduce import dependence, and stimulate economic growth.
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•Our engineers are now expatriates in UAE, other countries, says Dangote Group Peter Uzoho The federal government has commended the Dangote Petroleum Refinery for its outstanding engineering achievements and significant
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Jonah Isawa Elaigwu, Political Science Scholarship and Discourse on Federalism in Nigeria
Jonah Isawa Elaigwu, Political Science Scholarship and Discourse on Federalism in Nigeria
By Tunji Olaopa
One of the reasons I always return to my professional starting point in the Presidency is essentially because it constituted a seminal grounding foundational space where several political, non-political and technocratic actors hammered the rehabilitation of the Nigerian state. Indeed, IBB drew into his kitchen cabinet a significant number of intellectuals from the corps of political scientists in Nigeria including professors Omo Omoruyi, Bolaji Akinyemi, Humphrey Nwosu, Ibrahim Gambari, Sam Oyovbaire, Tunde Adeniran, Tunji Olagunju, Adele Jinadu, A. D. Yahaya, Jonah Elaigwu inclusive, among others. It was in the seminal climate of policy work where these scholars worked with a legion of others within a multidisciplinary and transdisciplinary matrix in the Presidency that I began to cut my professional teeth not just as a civil servant but as a scholar of public administration. It was at the Presidency that I first started at the Speechwriting Unit, and then began to make my way round all the critical sectors, ministries, departments and agencies. This constituted a most significant and rewarding learning curve for me in terms of the challenges and opportunities I had to confront and engage with.
However, outside of the structures, procedures ad processes that make up the institutional composition of the civil service, the Presidency was also where I met a different level of mentors, seniors, leaders, professionals and technocrats all of whom contributed to the shaping of my professional maturation as a budding scholar-practitioner. It was at the Presidency that I first met the late Professor Jonah Isawa Elaigwu. I had been posted as a chief policy analyst to the secretariat of the Presidential Advisory Committee (PAC), set up by the Babangida administration. The PAC was headed by the late Prof. Ojetunji Aboyade, and Prof. Elaigwu was one of the eminent expert-advisors that made up the Committee. Other members of PAC were Dr. Michael Omolayole, Prof. Francis Idachaba, Prof. Ikenna Nzimiro, Prof. A. D. Yahaya who replaced Prof. Yaya Abubakar Aliyu when the latter died and Chief Effiong Essien who replaced Prof. Iz Osayimwese when he took up an appointment in Vienna.
To understand the PAC and the significant role Prof. Elaigwu and other played in it, some background information is required. The PAC was put in place as sounding board for expert insights, among other things, to push forward many of the governance and policy implications of development programmes of the administration. A particular policy that provided the grounding for my research and foray into public administration scholarship involved the renowned economist and former DG of NISER Ibadan, late Prof. Adedotun Phillips. The Dotun Phillips Study report on civil service reform of 1985 and the Civil Service Reorganization Decree of 1988 had been commissioned by the Buhari administration in 1984. And with IBB resolve to latch on to US type presidential system introduced by the 1979 Constitution that birth the second republic as his governance template when he took on the title of President, his administration inherited the Phillips Study Report to harvest its recommendations that aligned the civil service with the presidential system of government. Indeed, apart from reinventing the Udoji Commission’s earlier attempt to log Nigeria into the global wave of managerialism that was reshaping the frontiers of public administration praxis, a most significant recommendation of the Phillips Report was the replacement of the parliamentary system with presidentialism, and the significant documentation of the implication of this for the governance structure of the Nigerian state, especially the civil service, and the larger implications for Nigeria’s federalism. The PAC therefore served as the locus of a critical policy-engaged research interrogation of many of these initiatives through policy advisory professionalism constituted around the expertise and technocratic knowledge of significant individuals who debate governance and policy matters that could shape Nigeria’s social contract.
One of the most intractable harms done to the Nigerian Constitution, commencing from the inauguration of military rule in 1966, was the dismantling of the vitality of Nigeria’s federal system. The new federalism inaugurated by the military was a lopsided one that disarticulated the relationship that ought to exist between the centre and the federating units. One of the most fundamental areas impacted by this lopsidedness is fiscal relationship among the three tiers of government, especially in terms of revenue allocation. There is also the implication of this for conflict resolution and the building of a developmental state in Nigeria. We have since been having the constant debate around the lingering issue of the necessity of state police, in the face of mounting insecurity in Nigeria, as a testament to this unresolved intergovernmental relation for example.
Contrary to the imperative of federalism as the panacea to Nigeria’s heterogeneous composition, the constitution became disconnected with Nigeria’s postcolonial political reality, and this immediately led to a power imbalance among the three tiers. In other words, the reality on the ground now is that the local government, as the third tier of government in a federal arrangement is more a-developmental than providing the much-needed framework for good governance in Nigeria. The implication for democratic governance is enormous. It simply means that the democratic experiment in Nigeria is now presently unable to benefit the grassroots in terms of the delivery of governance dividends. And in turn, local governance cannot legitimize democratic governance with its store of social capital and subsidiarity.
It is within this seemingly intractable predicament of the Nigerian federalism that the PAC was constituted, and this is where the late Professor Elaigwu brought in his training as a remarkable political scientist and scholar par excellence. From Ahmadu Bello University, Zaria and the University of Jos where he began his immense contributions to political science scholarship, to the PAC, Prof. Elaigwu created a template of a committed scholar who is not only distinguished by the number of scholarly articles he published. Political science scholarship has a way of bringing out the patriotic in anyone who is committed to its imperative. Political science scholarship, particularly in Nigeria, cannot but be an engaged trajectory of encountering the postcolonial Nigerian state and the multitude of its postcolonial predicaments.
Professor Elaigwu’s connection with Professor Ali Mazrui—who taught him political science at Stanford University—was one of the excellent matters that excited me about meeting Prof. Elaigwu at the PAC. Mazrui’s triple heritage thesis has always appealed to me as a very fundamental theoretical framework that explains Africa’s postcolonial reality. The triple heritage, according to Mazrui, are Christianity/western, Islam and the traditional/indigenous African religion. These three constitute the frameworks of sociocultural existence for many Africans. More contextually, the triple heritage thesis describes Nigeria’s postcolonial circumstances in terms of the challenges of national integration and the search for nationhood. However, unlike the theoretically neat context of the triple heritage thesis, Nigeria is experiencing the collision of these elements in a most traumatic sense. And this postcolonial reality is what consecutive Nigerian governments have been called to alleviate; what concerned and committed scholars like Prof. Elaigwu have been called to address with their scholarship. I would later rehearse this intellectual engagement when I encountered a number of mentees of Prof. Elaigwu as a member of the faculty of the National Institute for Policy and Strategic Studies (NIPSS) in Kuru from 2020-2023, including late Prof. Habu Galadima, late Sonni Tyoden, Sam Egwu, Sunday Ochoche, Dung Pam Sha, Plangsat Bitrus Dayil, an eminent corps that indeed should include my friend and colleague, Prof. Rotimi Suberu, of the Jos school of political science extraction, among others.
Prof. Elaigwu’s scholarly forte was comparative federalism and civil-military relations. But it was as an expert in federalism that he made his marks as a scholar and came into reckoning with the Babangida administration. One of the outcomes of the PAC policy dynamics was the creation of the National Council for Inter-Governmental Relations, and Prof. Elaigwu headed it from 1992 to 1996. Comparative federalism positions Elaigwu with a unique theoretical and practical framework to be a member of the PAC and to serve as the first director-general of the NCIR. An understanding of the federal experience of African and non-African states across the world serve as the basis against which to benchmark Nigeria’s federalism and its successes and failures. Indeed, a deep understanding of civil-military relations also comes in handy in articulating the role that the military played in undermining Nigeria’s federal experience.
The centralizing tendency that undermined Nigeria’s federalism, according to Prof. Elaigwu, derives from the cumulation of five factors: “(1) the nature of military legislation, which made it easier to issue decrees taking over the functions of the subnational units; (2) the civil war, which gave emergency powers to the federal government to take over the functions of the subnational units – powers that were not reversed after the war; (3) the creation of more subnational states (now thirty-six), which weakened the resource base of the states; (4) the increase in petro-naira, especially through profit taxes that accrued to the central government; and (5) globalization, has resulted in the strengthening of centralization, at least in the Nigerian case.” And all these have implication for the understanding of the federal idea in Nigeria, and especially for inter-governmental relations that could strengthen that federal idea.
The political processes from 1999 have actually been challenging for Nigeria because of the attempt to square democracy with federalism. This is challenging because of the bad politics that many Nigerian politicians play with the lives of millions of Nigerians, especially those in the grassroots who need that tier of government to play a significant role in legitimizing democracy and participating in its dividends. It is a surprise that Nigeria claims a federal and democratic status and local governance which has failed to gain traction in her political processes, especially since 1999. The local government as a significant tier of government has remained under the stranglehold of a very powerful centre and the state governors in ways that undermine its capabilities of engendering grassroots development that enables the capacities of millions of Nigeria making their living at that level. In a review of the “federal idea” in Nigeria, especially within the context of the commencement of the democratic experiment in 1999 up till 2007, Prof. Elaigwu, being the patriot, remained hopeful. Something good might still emerge from Nigeria’s federal idea, especially if the leadership firms up its resolve to make Nigeria work as a federal entity that deploys federalism as the governmental framework to energize the democratic experiment.
From 1996 until his demise, he was the president of the Institute for Governance and Social Research, Jos. This is a solid institutional commitment to the future of the Nigerian state by someone who refused to let go even when the Nigerian state failed to see his worth and contributions. When the Abacha regime scrapped the NCIR in 1993, that did not signal the end of the idea for Prof. Elaigwu. He simply had to reconceive of a new and different method of carrying on his engagement with the Nigerian state. And thus, from a humble beginning to the university as an intellectual, and on to the Presidency and finally to the IGSR. Professor Jonah Isawa Elaigwu has demonstrated that one can give one’s life for a good cause, like striving to see the good of Nigeria. That is a legacy that cannot be disputed. And yet, the framework for a workable federal idea in Nigeria is still on the horizon.
*Tunji Olaopa, professor of Public Administration, is the Chairman of the Federal Civil Service Commission, Abuja
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By Tunji Olaopa One of the reasons I always return to my professional starting point in the Presidency is essentially because it constituted a seminal grounding foundational space where several
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UNICEF Nigeria Announces Appointment of New Country Representative
UNICEF Nigeria Announces Appointment of New Country Representative
Segun Awofadeji in Bauchi
A new UNICEF Nigeria Country Representative, Ms. Wafaa Saeed Abdelatef, has been appointed.
This is contained in a statement by Susan Akila, Communication Specialist, UNICEF Nigeria which was made available to journalists on Tuesday in Bauchi.
Prior to her appointment, Wafaa Saeed served as the UNICEF Representative in Somalia, where she achieved significant successes in advancing children’s rights and well-being within a complex and challenging environment.
With over 20 years of dedicated service in international humanitarian and development work, Wafaa Saeed brings a wealth of experience and leadership to Nigeria’s efforts to improve the lives of children and communities across the country.
Her extensive career includes senior roles with the United Nations—most notably with OCHA, UNICEF, and WFP—in diverse settings such as Sudan, Indonesia, Pakistan, Syria, and Ethiopia.
Her extensive career includes senior roles with the United Nations—most notably with OCHA, UNICEF, and WFP—in diverse settings such as Sudan, Indonesia, Pakistan, Syria, and Ethiopia.
She has also held leadership positions at the global level with OCHA in New York and Geneva.
Wafaa Saeed’s professional journey began in Sudan, where she worked with the private sector, academia, and non-governmental organisations on initiatives focused on displaced populations and environmental conservation.
She holds a Master of Architecture from Katholieke Universiteit Leuven in Belgium, a Master of Science in Physical Planning from the University of Khartoum, and a Bachelor of Science in Architecture.
In her previous role as UNICEF Somalia Representative, Wafaa Saeed demonstrated strong leadership in advancing the organisation’s mission amid complex humanitarian challenges.
Her expertise spans programme management, coordination, and strategic planning in both humanitarian and development contexts.
UNICEF Nigeria is confident that Wafaa’s extensive experience and uncompromising dedication will significantly contribute to Nigeria’s progress towards achieving the rights and well-being of every child.
“We warmly welcome her to the country and look forward to her leadership in this vital mission”.
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Segun Awofadeji in Bauchi A new UNICEF Nigeria Country Representative, Ms. Wafaa Saeed Abdelatef, has been appointed. This is contained in a statement by Susan Akila, Communication Specialist, UNICEF Nigeria
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Transcorp Group Reports N279.7 Billion Revenue in Half-year 2025
Transcorp Group Reports N279.7 Billion Revenue in Half-year 2025
•Rewards shareholders with N4.06bn interim dividend
Nume Ekeghe and Kayode Tokede
The Transnational Corporation Plc yesterday announced its half-year (H1) ended Jun 30, 2025, unaudited results, showing impressive year-on-year growth and rewarding shareholders with a robust interim dividend payout.
Nigeria’s leading listed conglomerate in the period under review announced N279.7 billion revenue, which was about a 59 per cent increase over the N175.4 billion recorded in the corresponding period, while profit before tax moved from N70.9 billion in H1 2024, to N85.7 billion in the review period, which was about a 21 per cent increase.
The performance saw an increased gross profit margin of 47per cent, despite economic headwinds.
In line with its commitment to delivering value to shareholders, the company declared an interim dividend of N4.064 billion, representing a 40 kobo per ordinary share, subject to applicable withholding tax.
Despite continuing economic headwinds, Nigeria’s bellwether stock, with a portfolio that spans power, resources, and hospitality continues to deliver for shareholders – and make significant investments in Nigerian infrastructure.
Notable highlights of the period included the launch of the Transcorp Centre in Abuja, Nigeria’s state-of-the-art convention and events centre, which has already hosted international leaders and major regional events.
Commenting on the H1 2025 results, Chairman, Transnational Corporation, Mr. Tony Elumelu, in a statement said, “Delivering on our impact-driven, value-creating mission, we continue to advance strategic investments across key sectors in Nigeria.
“In power, Transcorp Power and Transafam Power increasingly innovate to improve lives, transforming Nigeria. In hospitality, we continue to delight our clients and redefine our sector, not least with the opening in Abuja of the Transcorp Centre, Nigeria’s superlative events centre. Our growth demonstrates the resilience and strength of our diversified business model.
“We remain dedicated to achieving our strategic vision, rewarding our valued shareholders, and driving the sustainable transformation of Nigeria’s economy.”
President/Group Chief Executive Officer, Owen Omogiafo, was also quoted to have said, “The Q2 2025 financial performance reflects our firm commitment to operational excellence and the resilience inherent in our corporate strategy, which has further enhanced our capacity to effectively navigate challenges.
“This adaptability has enabled us to thrive within a dynamic business landscape while consistently delivering value to our stakeholders.
“With our new 5,000-seat capacity event centre, we are positioning Nigeria as the epicentre of high-scale conferences and events, including hosting the recently concluded Afreximbank Annual Meetings 2025.
“We continuously explore innovative ways to further accelerate our growth trajectory while strengthening our leadership in Nigeria’s power, hospitality, and energy sectors.”
Transnational Corporation is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.
Transcorp’s power businesses, Transcorp Power Plc and Transafam Power, provide over 20per cent of Nigeria’s installed power capacity. Transcorp is committed to developing Nigeria’s domestic energy value chain through its investments in OPL281.
The Group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination, and has launched the digital platform Aura by Transcorp Hotels.
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•Rewards shareholders with N4.06bn interim dividend Nume Ekeghe and Kayode Tokede The Transnational Corporation Plc yesterday announced its half-year (H1) ended Jun 30, 2025, unaudited results, showing impressive year-on-year growth
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NDLEA Auctions forfeited Properties of Drug Traffickers
NDLEA Auctions forfeited Properties of Drug Traffickers
Michael Olugbode in Abuja
National Drug Law Enforcement Agency (NDLEA) has conducted a public auction of forfeited houses, which were either acquired through proceeds of drug trafficking or used as instruments for committing the crime.
The exercise, which took place on Tuesday at the agency’s National Headquarters in Abuja, had pre-qualified auctioneers, bidders, representatives of civil society organisations, the media, and other government agencies in attendance.
Speaking at the event, Chairman/Chief Executive of NDLEA, Brig. Gen. Buba Marwa (Rtd.), said the exercise was part of the agency’s strategic effort to dismantle drug trafficking networks by depriving offenders both liberty and illicit wealth in strict compliance with legal frameworks and due process.
Represented by NDLEA’s Secretary, Mr. Shadrack Haruna, Marwa reaffirmed the agency’s resolve to pursue drug offenders not only through prosecution but also by targeting all assets acquired through proceeds of crime.
He said, “This auction is part of our broader commitment to transparency and justice. Beyond prosecuting drug offenders, we are committed to ensuring that the financial incentives that drive these crimes are neutralized through legal forfeiture.
“This serves as both punishment and deterrence. When drug traffickers know they stand to lose everything, including their ill-gotten assets, it sends a stronger message than imprisonment alone.”
The auction involved forfeited eight properties across Lagos, Kano, Ondo, and Ogun. Two of the houses located in Lekki and Ikorodu areas of Lagos were stepped down from the process due to notices of appeal received after the processes had begun.
Six other properties were auctioned to pre-qualified bidders, with only two sold at over N139 million following successful bids above their reserved prices. Others either failed to receive any bids or attracted offers below the benchmark.
Speaking at the bidding exercise, Umar Yakubu of Centre for Transparency and Integrity Watch, commended NDLEA for conducting a process that was open, credible, and compliant with international best practices.
Yakubu stated that the level of transparency observed was commendable and reflective of a strong institutional culture that prioritised public accountability.
He encouraged the agency to amplify such efforts as a public education tool to underscore the consequences of drug crimes.
In his remarks, Director, Proceeds of Crime Management at NDLEA, Jerry Aernan, said participating auctioneers were pre-qualified by Bureau of Public Procurement (BPP) and had met the required integrity checks to ensure that disposed assets were not returned to original owners through the back door.
He emphasised that successful bidders must pay 10 per cent of their bid value within 14 days to confirm their interest, while the full payment was expected within a stipulated timeframe.
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Michael Olugbode in Abuja National Drug Law Enforcement Agency (NDLEA) has conducted a public auction of forfeited houses, which were either acquired through proceeds of drug trafficking or used as
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N210trn Audit Discrepancies: Senate Panel Gives NNPCL Three Weeks to Reconcile Accounts
N210trn Audit Discrepancies: Senate Panel Gives NNPCL Three Weeks to Reconcile Accounts
•Ojulari apologises for ignoring summons
Sunday Aborisade in Abuja
The Senate has issued a three-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to provide comprehensive responses to audit queries involving a staggering N210 trillion discrepancies found in the company’s audited financial statements from 2017 to 2023.
Senate Public Account Committee (SPAC), through its Chairman, Senator Ahmed Aliyu (Nasarawa West), gave the deadline after an investigative hearing involving NNPCL led by the recently appointed Group Chief Executive Officer, Engr. Bayo Ojulari.
Ojulari, who had served just over 100 days in office, appeared before the committee after previously failing to honour its invitations.
He apologised for his absence and requested four weeks to respond to the 19 audit queries, citing the complexity and technicality of the issues involved.
The committee granted him three weeks, which Ojulari accepted as sufficient.
Aliyu clarified during the session that the funds in question were neither declared missing nor stolen, but remained unaccounted for in terms of supporting documentation and reconciliation.
He emphasised that the N210 trillion consisted of N103 trillion in liabilities and N107 trillion in assets that required clear explanations.
Ojulari explained that he needed time to thoroughly understand the queries and would engage external auditors and relevant departments to ensure the responses were accurate and well-substantiated.
He stated that his understanding of the issues had evolved significantly after listening to the committee’s breakdown, and committed to assembling a team to reconcile all outstanding records.
The queries stemmed from findings by Auditor-General of the Federation, who reviewed NNPCL’s audited financial statements covering a seven-year period.
Wadada stressed that the committee’s work was in line with its constitutional mandate and was based solely on the audit reports, not on politically motivated allegations or suggestions from other arms of government.
He stated that once NNPCL’s written response was submitted, Ojulari and other senior officials would be invited to appear before the committee for another hearing and further clarifications.
Some of the figures flagged in the audit report included N600 billion in retention fees and other large entries for legal and audit services, none of which had corresponding contracts or documentation.
The committee raised additional concerns over conflicting financial outcomes between NNPCL and its subsidiary, NAPIMS.
While NAPIMS, reportedly, declared N9 trillion in profit between 2017 and 2021, NNPCL posted a N16 billion loss during the same period, raising questions about consolidation and financial transparency.
Lawmakers present during the session expressed the gravity of the audit queries but also showed faith in the GCEO’s ability to clear the air.
Senator Victor Umeh (Anambra Central) welcomed Ojulari and stressed the need for transparency. Umeh stated that NNPCL held the key to Nigeria’s economic fortune.
Senator Babangida Hussaini (Jigawa North West) reiterated the importance of continuity in governance and called on NNPCL to confront the issues head-on.
Senator Tony Nwoye (Anambra North) cautioned against hasty conclusions, stating that the audit report itself may contain inaccuracies and that NNPCL deserves a fair hearing.
The committee’s move, according to the lawmakers, came amid broader national efforts to strengthen public accountability and fiscal discipline, in line with President Bola Tinubu’s Renewed Hope Agenda.
They stated that the push was particularly timely given NNPCL’s transformation into a commercial entity under the Petroleum Industry Act (PIA) and its plans to eventually go public.
The senate warned that a lack of clarity in financial reporting could undermine investor confidence and Nigeria’s oil sector credibility.
In a show of seriousness, representatives from key anti-corruption and intelligence agencies—including Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC), Nigerian Financial Intelligence Unit (NFIU), and Department of State Services (DSS), were present at the hearing.
As the three-week countdown begins, all eyes are now on NNPCL. The company is expected to submit a detailed, well-reconciled written report addressing each of the 19 audit queries.
The outcome of this probe would shape not just NNPCL’s corporate future, but also the Nigerian government’s credibility in enforcing accountability in its most critical revenue-generating sector.
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•Ojulari apologises for ignoring summons Sunday Aborisade in Abuja The Senate has issued a three-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to provide comprehensive responses to audit
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Hope in the Numbers: How Nigeria’s Rising Reserves and Falling Inflation Could Ease Everyday Struggles
Hope in the Numbers: How Nigeria’s Rising Reserves and Falling Inflation Could Ease Everyday Struggles
With foreign reserves rising to $40.11 billion as of July 18, Nigeria now has enough buffer to cover around 10 months of imports, offering a rare sense of stability in uncertain economic times. The Central Bank of Nigeria (CBN) says the stronger reserves, paired with a slight easing in inflation to 22.22 per cent in June, could provide businesses and households with much-needed breathing space as the country navigates its economic recovery. Precious Ugwuzor reports
Against all odds, Nigeria has continued to witness significant improvement in macroeconomic indicators as seen in the rise moderation in inflation rate and growth in foreign reserves.
These macroeconomic advantages include the progressive narrowing of the gap between the official and parallel market rates as well as positive balance of payments.
The FX reforms, instituted by the Olayemi Cardoso-led Central Bank of Nigeria (CBN), new policies instituted by the Federal Government to boost local production, reduce forex demand pressure, and lessen domestic prices have been instrumental to macroeconomic stability.
The expectations are that the apex bank sustains the forex reforms while the fiscal authority strengthens efforts at enhancing FX earnings, especially from gas, oil and non-oil exports.
Analysts said such moves will be sustaining inflation drop as seen in the last report released by the National Bureau of Statistics (NBS) which revealed that the annual headline inflation eased by 0.75 per cent to 22.22 per cent in June from 22.97 per cent in May. The drop was largely driven by base effects, continued FX stability, and minimal volatility in energy prices.
Domestic economy / capital inflows
The domestic economy shows that economic activity remained on a firm upward trajectory in Q2-25, supported by easing inflationary pressures and naira stability, both of which have strengthened business confidence and production.
The CBN composite Purchasing Managers Index (PMI) averaged 52.2 points in Q2-25 indicating broad-based expansion across the agriculture, industry, and services sectors.
In emailed report to investors, analysts from Cordros Securities said: “We expect inflation to remain on a downward trend, especially as the naira is projected to remain stable. Additionally, we expect petroleum product prices to remain stable, supported by low global oil prices, which should help maintain steady transportation costs”.
They explained that capital inflows have equally rebounded since global financial pressures eased in May. The elevated naira yields and a stable FX market continued to attract foreign portfolio investments and bolster investor confidence.
Specifically, inflows from foreign investors surged by 315 per cent to $2.73 billion in June, the highest since March 2019, from $657.4 million in April, with Foreign Portfolio Investment (FPI) inflows accounting for 97.2 per cent of total foreign inflows. The rebound in inflows led to a decline in CBN interventions in forex market as demand pressures waned.
On the other hand, Nigeria’s external reserve has risen to $40.11 billion as of July 18, 2025, making it the highest level recorded since November 2024 when it hit $40.11 billion.
The $40.11 billion reserve level representing approximately 10 months of import cover, signals a significant boost to country’s foreign currency buffer.
This was disclosed by Cardoso during the 301st Monetary Policy Committee’s (MPC) meeting in Abuja. He explained that the rise in foreign reserve marked a significant rebound in Nigeria’s foreign currency buffers amid ongoing efforts to stabilize the exchange rate and rebuild investor confidence. The reserves spike happened despite relatively stronger CBN market intervention this year and external debt servicing as well as weak oil receipts.
Looking ahead, the analysts expect robust FX liquidity from both foreign and local sources, driven by strong market confidence, to continue supporting naira stability in the near term.
Looking ahead, analysts expect headline inflation to ease further in July, supported by a moderation in both food and core inflation components.
“Specifically, we anticipate the slowdown in food prices to be supported by improved market supply from early green harvests and the relative stability of the naira, which is expected to reduce pressure on imported food prices. Similarly, core inflation is projected to remain broadly stable, supported by a reduced exchange rate pass-through effect and steady energy prices,” they said.
Multiple FX sources activated
The CBN under Cardoso is cultivating multiple FX sources to increase dollar inflows, boost dollar access to manufacturers and retail end users.
From moves to improve diaspora remittances through new product development, the granting licenses to new International Money Transfer Operators (IMTOs), implementing a willing buyer-willing seller FX model, and enabling timely access to naira liquidity for IMTOs, the apex bank has simplified dollar-inflow channels for authorized dealers and other players in the value chain.
The move has led to substantial accretion to the gross FX reserves and supported the stability of the naira.
Given that FX inflows to the economy are strategic in achieving monetary and fiscal policy stability, the CBN under Cardoso puts in a lot of efforts in attracting more inflows into the economy.
Diaspora remittances to Nigeria, estimated at $23 billion annually remain a reliable source of forex to the domestic economy. There are also other sources and policies that are being explored by the apex bank to keep dollar inflows coming.
The CBN’s initiatives have supported continued growth in these inflows, aligning with the institution’s objective of doubling formal remittance receipts within a year.
The remittances in the economy is expected to increase based on CBN’s ongoing efforts to bolster public confidence in the foreign exchange market, strengthen a robust and inclusive banking system, and promote price stability, which is essential for sustained economic growth.
Director of Trading at Verto, Charlie Bird, said dollar liquidity dynamic is now more balanced, with foreign investors and airlines able to repatriate funds.
Speaking during Cordros Asset Management seminar titled: “The Naira Playbook”, he said Nigeria is now darling of foreign investors because of improved dollar liquidity in the economy due to positive CBN’s reforms.
Oil production rise aids disinflation
In emailed report, Managing Director, Afrinvest West Africa, Ike Chioke, said crude oil production data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), captured the OPEC Monthly Oil Market Report (MOMR), and the Consumer Price Index (CPI) data by the National Bureau of Statistics (NBS).
“Starting with the crude oil production related subject, both the NUPRC data and OPEC’s monthly oil report affirmed that Nigeria’s daily average crude oil production improved by 3.6 per cent month-on-month in June 2025 to 1.5 million barrels per day (mbpd).”
“By adding condensate, total output cleared at 1.7mbpd, marking a 2.4% increase in average crude oil and condensate production over the previous month. The June crude oil production performance marked the second highest monthly average in 2025, with January’s 1.54mbpd performance (1.74mbpd including condensate) still the strongest,” he said.
According to him, output rebound from major terminals – Forcados (up 9.5 per cent m/m to 8.8mbpd), Odudu (up nine per cent m/m 20 2.1mbpd), Qua Iboe (up 2.3 per cent to 5.1mbpd), and Bonny (up one per cent to 7.2mbpd) – more than offset losses from Brass (down 15 per cent m/m to 0.9mbpd), Escravos (down 8.7 per cent m/m to 4.2mbpd), and Tulja-Okwuiboime (down 4.5 per cent m/m to 2.1mbpd) terminals.
“Contextualising the economic impact of the modest improvement in the crude oil production level for the month (excluding condensate as there is no formal pricing guide), we estimate that Nigeria earned a daily average revenue of $105.0m in June from its crude oil production (given average price of $69.73/bbl), representing a 13.6 per cent improvement over May. Relative to the prior five months, our estimate suggests that the daily average revenue for June is the third highest after January ($122.3m at average price of $79.46/bbl) and February ($112.5m at average price of $76.81/bbl),” he said.
Bringing all of this together, we maintain our position in the recently published H2:2025 outlook report that Consumer Price Index rebasing impact on the base year would largely support a sustained decline in the headline inflation rate till the end of Q3’2025, thereby causing a divergence between statistical reading and consumers’ experience on the street.
“Against this backdrop, our model projects the headline rate to ease to 21.6 per cent in July, though m/m reading is expected to increase to 1.75 per cent as against 1.68 per cent in June,” Chioke stated.
As naira rallies, import costs to dip
Import costs have been tipped to drop significantly as the naira continues to gain more ground across markets.
The naira appreciated significantly last week, strengthening from N1,580 to N1,530 per dollar, a gain of about 3.25 per cent at the parallel markets. The local currency exchanged at N1,536 per dollar at the official markets, creating N6 per dollar rate gaps between both markets.
Importation costs in Nigeria include various taxes and charges, primarily import duties, VAT, and other levies. These costs are calculated based on the CIF value (Cost, Insurance, and Freight) of the goods, which includes the cost of the goods, insurance, and shipping.
The cost, insurance and freight (CIF) price is the price of a good delivered at the frontier of the importing country, or the price of a service delivered to a resident, before the payment of any import duties or other taxes on imports or trade and transport margins within the country.
Changes in exchange rate can significantly impact the cost of imports, as duties and other charges are often calculated based on the prevailing exchange rate.
Nigeria’s total Imports in 2024 were valued at $40.97 billion, according to the United Nations COMTRADE database on international trade. Nigeria’s main import partners were: China, Belgium and India
New figures from the National Bureau of Statistics (NBS) reveal that Nigerian imported food and beverages worth N1.67 trillion ($1 billion) during the first quarter of 2025 (January–March), reflecting a five per cent increase from the N1.59 trillion recorded over the same period in 2024.
Analysts from Cordros Securities said the naira appreciation helped cushion the impact of the spike in imported fuel prices triggered by tensions in the Middle East.
“We expect FX liquidity to remain robust, supported by reduced global pressures and stronger market confidence, which continues to attract inflows from foreign portfolio investors (FPIs). Additionally, a stronger net FX reserve position enhances the CBN’s capacity to intervene when necessary. Barring any unexpected shocks, we anticipate that the naira will remain stable in the near term,” they said.
While Nigeria is making strides toward fuel self-sufficiency, it still relies on imports, as seen in the reduced import bill for the first quarter. This indicates a decline in fuel imports but not a complete elimination.
Already, trade tensions have softened from the tariff hike announcements in April. The US President paused the implementation of reciprocal tariffs, allowing countries to negotiate lower tariffs for 90 days, which was recently extended to August 1.
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With foreign reserves rising to $40.11 billion as of July 18, Nigeria now has enough buffer to cover around 10 months of imports, offering a rare sense of stability in
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