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Eid El Maulud: Governors, PDP, Wike, First Lady Preach Peace, Seek Nigeria’s Progress

Eid El Maulud: Governors, PDP, Wike, First Lady Preach Peace, Seek Nigeria’s Progress

Deji Elumoye, Chuks Okocha and Olawale Ajimotokan in Abuja

As Muslims across the world yesterday marked this year’s Eid El Maulud, some key political figures in Nigeria used the occasion to call for unity and tolerance.

Governors of the Peoples Democratic Party (PDP), the First Lady, Senator Oluremi Tinubu, and FCT Minister Nyesom Wike, in separate statements, urged Nigerians to embrace peace and work collectively for the nation’s progress.
The PDP Governors’ Forum extended its warmest greetings and heartfelt wishes to Muslims in Nigeria and globally on this year’s Eid-El-Maulud,

In a statement by the Director of the forum, Emmanuel Agbo, the Governors said, ”Today, we honor the birth of Prophet Muhammad (Peace Be Upon Him), whose life and teachings continue to illuminate the path of compassion, justice, and unity for millions around the world.”
”His message of peace, tolerance, and service to humanity resonates deeply across all faiths and cultures. As we reflect on his legacy, may we be inspired to strengthen the bonds of brotherhood, promote understanding, and work together toward a more harmonious society.

”Today, our country is at a crossroads as Nigerians get disconnected from the constituted services they deserve.
“As we inch daily to full-blown dictatorship with its attendant abuse of power, and citizens live in abject penury in the face of plenty, leadership is once again called to urgently address insecurity, our compromised judicial system, failed economic policies resulting in intolerable hunger, poverty and unemployment.

 ”Let this day be a reminder of the values we should uphold and share — public service with accountability, kindness without expectation, humility, and the pursuit of truth to rebuild the faith of our citizens in our country.
”May your celebrations be filled with joy, prayer, and meaningful connection with loved ones”, the PDP Governors stated.

Similarly, the PDP rejoiced with Nigerians, particularly the Muslim Ummah, urging them to use the occasion to foster the much-needed national rebirth and reinforce their resolve against totalitarianism in our country.
In a statement by the National Publicity Secretary Debo Ologunagba, the party stated, ”Eid-el Maulud, the celebration of the birth of the Holy Prophet Mohammed (SAW) comes as a demonstration of the supremacy of the Will of the Almighty Allah in the affairs of men.  It also presents us as a nation, particularly leaders, the opportunity to retrace our steps and seek divine direction in all our activities as exemplified in the life and teachings of the Holy Prophet.”

The PDP called on the All Progressives Congress (APC)-led Government to use the occasion to introspect and end what it termed the ruling party’s affliction on the people by reviewing all its oppressive policies that continue to wreck hardship, promote insecurity and life-discounting experiences across the country.

Also, the PDP said the APC should respect the sovereign will of Nigerians, listen to alternative opinions, which is the hallmark of democracy and abandon its quest for the introduction of totalitarianism in our country.

According to Ologunagba, ”it is indeed lamentable that despite the anguish being faced by Nigerians, the President Bola Ahmed Tinubu-led administration has remained insensitive and continues to condone corruption and mindless pillaging of our national resources by APC members and its apologists.

”It is also heartrending that while millions of Nigerians cannot afford to celebrate and commemorate an occasion as significant as the Eid-el Maulud due to excruciating hardship occasioned by APC policies, APC leaders are arrogantly luxuriating and displaying their extravagant lifestyle while disregarding the welfare of the citizens.”

For his part, Wike urged FCT residents to see the Eid-El Maulud, the occasion for the celebration of the birth of Prophet Muhammad, as an opportunity to come together to uphold their commitment to the values of acceptance, love and kindness that the Prophet preached.

In a statement on behalf of the FCT Administration to the FCT residents, he said the day had significance as it marked the birth of the Prophet Muhammad (peace be upon him) and a time to reflect on his teachings of peace, compassion and unity.

He urged residents to remember the importance of compassion and the virtues of togetherness that should guide their interactions with one another, irrespective of their beliefs.

“In the FCT, we are blessed with a diverse and vibrant community that represents the

rich cultures of our great nation. Our strength lies in unity, and our progress

depends on our ability to live in harmony with one another,” Wike said while commending residents of the FCT for their unwavering commitment to peace and harmony.

He reiterated the commitment of the FCTA to meeting its obligations to residents of the FCT, assuring the administration will continue to provide essential infrastructure, security, and other services to enhance quality of life.

Equally, the Wife of the President, Senator Oluremi Tinubu, rejoiced with Muslim faithful.

Mrs. Tinubu, in her message, called on Nigerians to continue to pray for the peace, prosperity and progress of the nation.

The First Lady, in a four-paragraph statement stated, inter alia: “On this special day of Eid-El-Maulud, I extend my warmest greetings to all our Muslim faithful across the nation.

“This celebration of the birth of the Holy Prophet Muhammad (peace be upon him) is a time to reflect on his exemplary life of humility, compassion, forgiveness and devotion to Allah. It is also a reminder for us to embody these values in our daily lives, showing love, kindness, and unity to one another.

“As we mark this blessed day, let us continue to pray for our nation, for peace, prosperity, and progress. Eid-El-Maulud Mubarak!”

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Deji Elumoye, Chuks Okocha and Olawale Ajimotokan in Abuja As Muslims across the world yesterday marked this year’s Eid El Maulud, some key political figures in Nigeria used the occasion
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Adeniyi: Nigeria Rallying African Heads of Customs to Clear Trade Obstacles

Adeniyi: Nigeria Rallying African Heads of Customs to Clear Trade Obstacles

*Grenada, Saint Kitts PMs, Edun, Oduwole, Zamfara gov, others hail impact of Dangote industries’ investments in continent

James Emejo in Abuja and Peter Uzoho in Lagos

The Comptroller General of Nigeria Customs Service (NCS), Mr. Bashir Adewale Adeniyi, yesterday said the country is currently working with the African Continental Free Trade Area (AfCFTA) Secretariat, Afreximbank, and the World Customs Organisation (WCO) Secretariat to convene a roundtable of African heads of customs administrations in Abuja.
As he declared that the Intra-African Trade Fair (IATF) 2027 in Lagos will unleash opportunity to showcase Nigeria’s economic competitiveness, prominent leaders including the Prime Minister of Grenada, Dickon Mitchell; Prime Minister of Saint Kitts and Nevis, Dr. Terrance Drew; Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; and the Governor of Zamfara State, Dauda Lawal, among other personalities yesterday commended the socio-economic impact of Dangote Industries Limited’s investment across Africa.
Also the Dangote Group exhibition stand at the 2025 IATF holding in Algiers, the capital of Algeria, was one of the most visited at the continent’s leading trade and investment forum as majority of inquiries centred on polypropylene (PP), a key product of the Dangote Petroleum Refinery.
Speaking on Arise Television, Adeniyi said the aim of the meeting was to chart practical solutions, align continental initiatives, and leverage WCO tools and instruments to create seamless trade facilitation across the continent.
He also said the continent must harness the power of its youth, stating that the demographic dividend remained a secret weapon.
The Comptroller General of Customs (CGC) said Africa’s young, increasingly skilled population brings fresh perspectives and digital-native approaches to export markets.
He called for deliberate efforts to build export strategies around youth engagement and to create pathways for young entrepreneurs to access global markets with unprecedented ease.
He also said Africa must unleash the export potential of women, noting that evidence had shown that women exporters often outperform once barriers are removed.
He said, “Creating dedicated pathways and support systems to harness this proven competitive advantage is essential for Africa.”
He pointed out that customs administrations across the continent understood these strategies, noting that many are already implementing relevant initiatives.
However, he said, “progress is often undermined by fragmentation, which limits our collective impact and slows progress toward positioning African exports globally.”
The CGC also said the Nigeria Customs Service is currently taking deliberate steps to reduce the cost of doing business at the nation’s ports by simplifying processes and facilitating trade to boost exports and economic competitiveness.

He stressed that Nigeria must address the challenges confronting exporters, particularly small exporters, to unlock the country’s trade potential.

Adeniyi said, “It’s important from the statistics that we’ve put out there and shared by virtually every stakeholder in Nigeria, our percentage, our volume of people in Africa is still low and exports from all of these African countries will drive big volumes.

“So, it is very obvious that we are not doing well enough and a number of challenges have been identified. Part of them is the processes at our ports,” he said.

“Some of these processes could be very long and we all need to come up with simplified processes that can help us turn up the volume of our export, that can help us to conduct businesses in the port in a faster way.

“So, we’re already on the road to doing that in Nigeria. We have a dedicated terminal now for exports and our statistics in the last two years have shown that we are right on the right trajectory towards ramping up the volume of our exports in Nigeria.”

On Nigeria’s role in the AfCFTA, Adeniyi said coordination among stakeholders was key to maximising opportunities.

“The first is to promote a shared understanding amongst all the stakeholders involved that we now need to move in a coordinated manner. So, for so long we’ve been having progresses in silos.

“There has been progress in the payment system. We heard that Afrexim Bank has initiated the PAPS program, the initiative. AfCFTA Secretariat is also making a lot of progress in what they are doing, capacity building and things like that.

“The WCO is encouraging customs administrations to embrace tools of trade facilitations.”

He said, “It’s now time for us to bring all of this under one roof and let those initiatives and reforms, let them speak to each other. I went to Biasra Africa to let them know that it’s not enough for us to be having progress in each of those places and they are not having handshake with each other.

“The first major step is that Afreximbank, the Secretariat of the Free Trade, they have all accepted that customs should also move with them.”

“We need to move together. We need to make progress together and this explains why we are convening that conference in Abuja to bring all of our regulatory authorities, all of our facilitators, but most importantly the economic operators.

“We also need them to come and tell us where their shoe is pinching so that all of us together will be able to get coordinated solutions to those problems.”

The Customs chief said his administration has been intentional in pursuing reforms that support exporters, importers, and ease of doing business.

He said, “Well, I have been very, very intentional in pursuing policies that speak to trade facilitation because I know that when we get it right in trade facilitation it will help us to, you know, increase turnover, it will help us to increase volume and then it will translate into revenue.

“You know I’m on extra time, you know, kind of injury time as Comptroller-General of Customs. Just recently my service was extended and there were some key performance indicators that were given to me.

“Ease of doing business is there to, you know, facilitate the implementation of the African continental free trade. National single window is there which we want to launch in the first quarter of next year.

“So, what we’ve been doing in the last two years are stepping stones, are platforms for us to be able to achieve this.

“We already have an AEO programme, we piloted it last year and now we have several companies in Nigeria that are enjoying the benefits of expedited clearance in our ports, reduced documentation and all of that.

“We’ve been playing a very, very active role in the implementation of national single window. Our officers are there working with the secretariat of national single window to get us up and running.”

Continuing, he said, “I have a lot of, we have networking and, you know, cooperation and support from the secretariat of the African continental free trade and to demonstrate that there are some customs administrations that we’ve been working with directly to ensure that there is harmonisation of our policies and interoperability of our systems.

“We’ve really advanced, we’ve gotten to an advanced stage on how we can launch a system that allows our systems to speak to each other.

“This is what we intend to replicate with other customs administrations so that we can benefit more from the dividends of trade facilitations.”

Reacting to Nigeria’s hosting of the Intra-African Trade Fair (IATF) 2027 in Lagos, Adeniyi said customs would play a major role but emphasised the need for a whole-of-society approach.

He said, “We are all, we were all very excited. I spoke with the minister of trade yesterday who received the IATF banner on behalf of the government and the people of Nigeria. And from what we have seen here in August and the previous editions, it’s a very big spectacle.”

“And it’s not just about customs, it’s a whole lot of society approach that it requires. Right from the airport, the kind of reception, how we receive our visitors, how we make them feel comfortable, the logistic, the very huge logistics of organising an event as magnificent as this.

“You and I have been all over all the last 48 hours. We’ve seen big centres, big venues, you know, and there seems to be high level of coordination. So it goes beyond customs. Customs will do our part.”

He said, “We have a regime of temporary admission that allows exhibitors, those participating trade fairs to bring in their goods on a temporary basis.

“We have convention that covers it. And what we just do for IATF will be to simplify those procedures so that those who are coming for the trade fair will not have any hassles either at the airports or at the seaport.

“But like I said, you know, it requires, you know, the cooperation and the coordination of everybody. Immigration will be involved. Of course, security will be involved.

“Transportation will be involved. Our big hotels will have to, you know, help their game so that they can benefit, take maximum benefits from this.

“Lagos State government, this event is going to host in Lagos. So, you know, so it’s really, really very huge. And what a big opportunity for Nigeria to announce its presence as, you know, somebody that promotes a competitive economy.”

On the outlook for intra-African trade, Adeniyi said Nigeria must focus on harnessing its domestic and regional markets.

He said, “It was actually brought out in the fireside chat between the SG and Geoffrey in the first session. And that’s the fact that at the end of the day, the posture of President Trump may actually position him as a friend of Africa. And that is trying to encourage us to look inward and think about our economy first, before we think of market access elsewhere.”

“There is enough for us to do in Africa. You know, there is enough market for us to trade within ourselves. I mean, we’re talking of population that is very, very huge.”

“So, President Bola Tinubu has rightly identified this. And one of his strong pillars, his policy, is to make trade a major focus for economic development. So, making Nigerian economy more competitive, you will see a number of initiatives. National Single Window, I talked about that, is one of them. Decongestion port is one of them. It’s also supporting initiatives that customs is doing to modernise, to bring in authorised economic operator programmes, trade facilitation programmes, and things like that.

“For now, we have shown that when we take these giant steps around the trade facilitation ecosystem, the result at the end of the day, even if we don’t say we are pursuing it, is revenue.

“Half-year revenue in 2025 for customs and other revenue agencies has shown that we’re on the right track and given all indicators, we’re likely going to surpass our targets in 2025. So, we are still going to be very high, you know, very bold and intentional in the areas of trade facilitation.

“We are going to be speaking more to our stakeholders, our exporters, our importers, address issues that concern them so that, you know, we will be able to make our economy more competitive.”

Adeniyi, also said the country remained fully prepared to host the 2027 Intra African Trade Fair in Lagos, adding that the event presented a huge opportunity to showcase the country’s economic competitiveness.

According to him, “We are all very excited. I spoke with the minister of trade on Thursday who received the IATF banner on behalf of the government and the people of Nigeria.

“And from what we have seen here in August and the previous editions, it’s a very big spectacle.

“And it’s not just about customs, it’s a whole lot of society approach that it requires. Right from the airport, the kind of reception, how we receive our visitors, how we make them feel comfortable, the logistics, the very huge logistics of organising an event as magnificent as this.

“You and I have been all over all the last 48 hours. We’ve seen big centres, big venues, you know, and there seems to be high level of coordination. So it goes beyond customs. Customs will do our part.

“We have a regime of temporary admission that allows exhibitors, those participating trade fairs to bring in their goods on a temporary basis.

“We have convention that covers it. And what we just do for IATF will be to simplify those procedures so that those who are coming for the trade fair will not have any hassles either at the airports or at the seaport.

“But like I said, you know, it requires, you know, the cooperation and the coordination of everybody. Immigration will be involved. Of course, security will be involved. Transportation will be involved.

“Our big hotels will have to, you know, help their game so that they can benefit, take maximum benefits from this. Lagos state government, this event is going to host in Lagos.

“So, you know, it’s really very huge. And what a big opportunity for Nigeria to announce its presence as, you know, somebody that promotes a competitive economy.”

Meanwhile, Dangote Group stated this in a statement issued last night.

The Grenada and St. Kitts and Nevis Prime Ministers, Nigeria’s two ministers and the Zamfara State governor, who led separate delegations to the Dangote stand yesterday commended the far-reaching impact of the Dangote Group in its various investments in Nigeria and Africa, which have boosted economic development across the continent.

The dignitaries were received by the Special Adviser to the President of Dangote Group, Mansur Ahmed and the Group Head, Commercial Foods, Dangote Industries Limited, Garba EL-Suleiman, and other key executives of Dangote Industries.

As a Premier Partner of the fourth edition of IATF2025, Dangote Group is showcasing its diverse operations spanning cement, fertilisers, petrochemicals, refined petroleum products, sugar, salt, and logistics.

The company operates over 18 subsidiaries across sectors vital to Africa’s industrial and economic transformation.

According to the statement, the Dangote Special Day is scheduled to take place today during the fair.

Organised by Afreximbank, in collaboration with the African Union Commission and the AfCFTA Secretariat, and hosted by the People’s Democratic Republic of Algeria, the biennial IATF seeks to boost intra-African trade and promote investment opportunities throughout the continent.

This year’s edition features participation of production and service companies, alongside an investment and trade forum highlighting Africa’s potential for economic integration.

During the week-long fair, more than 2,000 exhibitors, including businesses from the African continent and globally, are showcasing their goods and services to visitors and buyers while exploring opportunities and exchanging trade and market information, which is projected to translate into over $44 billion in trade and investment deals.

According to the Group Chief Branding and Communications Officer, Dangote Industries Limited, Mr. Anthony Chiejina, “Our partnership with IATF is built on a shared vision of commitment to advancing Africa’s economic growth. Having experienced the tangible impact of IATF2023, we are proud to build on that momentum as a Premier Partner for IATF2025. This platform continues to drive meaningful connections and opportunities across the continent, and we look forward to contributing to its success once again in Algiers.”

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*Grenada, Saint Kitts PMs, Edun, Oduwole, Zamfara gov, others hail impact of Dangote industries’ investments in continent James Emejo in Abuja and Peter Uzoho in Lagos The Comptroller General of
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Wanted Sujimoto CEO Pledges to Report to EFCC, Denies Allegation

Wanted Sujimoto CEO Pledges to Report to EFCC, Denies Allegation

*Enugu state accuses investor of N5.7bn fraud

Boluwatife Enome

Sujimoto CEO, Olasijibomi Ogundele, yesterday, released a video denying allegations of fraud and insisted he was not a fugitive after he was declared wanted by the Economic and Financial Crimes Commission (EFCC).
This was as the Enugu State Government has accused Ogundele, of defrauding the state of N5.7 billion, noting that Ogundele vanished into thin air after he was paid the said sum for the construction of 22 Smart Green Schools in different parts of the state.

In a statement signed by Enugu’s Commissioner for Information and Communication, Dr. Malachy Agbo, yesterday, the State government also accused Ogundele of premeditated fraud, explaining that while he presented a bond issued by Jaiz Bank to secure the contract, he used the company’s Zenith Bank account registered with the state’s Ministry of Works and Infrastructure to receive the said payment, making it impossible for the State to hold Jaiz Bank liable.

The EFCC, in a statement earlier yesterday, said it was looking for Ogundele – a Lagos-based businessman and Chief Executive Officer of Sujimoto Luxury Construction Limited – over alleged diversion of funds and money laundering.
The anti-graft agency, in a notice signed by its spokesperson, Dele Oyewale, described Ogundele as a 44-year-old indigene of Ori-Ade Local Government Area of Osun State.

“Ogundele is a 44-year-old indigene of Ori-Ade Local Government of Osun State and his last known address is: G 29, Banana Island, Ikoyi, Lagos State,” the EFCC said. “Anybody with useful information as to his whereabouts should please contact the Commission in its offices.”

However, on a passionate appeal recorded on video, Ogundele denied culpability.
“I’m not a thief, I’m not a fugitive. This is a contract between my company and the Enugu State Government. Enugu State Government asked me to help them build a couple of things, a couple of projects, which was very interesting,” he said while sobbing.

According to him, the contract later shifted focus to ambitious projects, including a proposed 69-storey building. “I designed it and gave it to him. He said, okay, keep it aside. He said, while you’re waiting for this, please help me do this course. That we have money, but we don’t have people that can do it.”

Ogundele claimed he mobilised 42 engineers to Enugu, took up residence in the state, and worked across local governments despite difficult conditions, including being shot at in some communities.
“I told the government, I said, this project is impossible because of the price, the pricing, the cost of it is too low to build. The government said, don’t worry, just help me do this course. And later, you will make money from this course, but you make money from the other projects,” he explained.

He said the project was frustrated as inflation and security challenges worsened. “When we took the contract, cement was 7,000. By the time we left, cement was 10,000. Sometimes, when in the villages, my staff are being shot at… but at the end of the day, things went sour between myself and the government.”
Ogundele added that he remained on the project until its collapse.

“Till the last day, I was in the project. Then I asked them, how much have we spent on the project? And I put my foot down. They took us to court, and we told the court, we don’t want to fight with the government. Let’s agree, let’s agree. How much do we owe you? And I was in agreement with them, and now they took me. Now they declare me wanted.”
He accused the authorities of damaging his reputation and vowed to clear his name. “They destroyed my company, they abused me. But I’m going to go there. I’m going to the EFCC office. I’m going to go and claim my name. In the last two, three years, prices have just gone crazy. If I am doing my project, it’s delayed… the economy went sour on me.”

The EFCC has not yet formally responded to Ogundele’s video claims.
Meanwhile, Agbo, in the statement explained: “For the avoidance of doubt, on July 2, 2024, the Enugu State Government awarded a contract in the sum of N11,457,930,950.52 to Sujimoto Luxury Construction Ltd for the construction of 22 Smart Schools (buildings only) in six months starting from the date of the acceptance of the award.
“The Enugu State Government paid the sum of N5,762,565,475.25, representing 50 per cent of the contract sum, in order to fast-track the projects at all the sites.

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*Enugu state accuses investor of N5.7bn fraud Boluwatife Enome Sujimoto CEO, Olasijibomi Ogundele, yesterday, released a video denying allegations of fraud and insisted he was not a fugitive after he
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DSS Files Terrorism Charges Against Ansaru Leaders Linked to Kuje Prison Break

DSS Files Terrorism Charges Against Ansaru Leaders Linked to Kuje Prison Break

The Department of State Services (DSS) has filed terrorism charges against two senior commanders of Ansaru, a terror group reportedly linked to Al-Qaeda, over their alleged role in violent attacks across Nigeria.

The suspects are Mahmud Usman, also known as Abu Bara’a Abbas/Mukhtar, who is described as the Emir of Ansaru, and his deputy, Mahmud Al-Nigeri, also known as Malam Mamuda.  They were recently captured during security operations.

According to the DSS, the charges against them include leading a terrorist organisation, funding its activities, recruiting members, and planning violent operations nationwide.
The two men were alleged to be behind the July 2022 deadly attack on the Kuje Prison, where more than 600 inmates, including Boko Haram suspects, escaped.

Their arraignment is expected soon at the Federal High Court in Abuja. This comes three weeks after the National Security Adviser, Nuhu Ribadu, announced their arrest.
Ribadu had said, “The first is Mahmud Muhammad Usman (aka Abu Bara’a/Abbas/Mukhtar), the self-styled Emir of ANSARU. He is the coordinator of various terrorist sleeper cells across Nigeria. He is also the mastermind of several high-profile kidnappings and armed robberies used to finance terrorism over the years.

“The second is Mahmud al-Nigeri (aka Mallam Mamuda), Abu Bara’s proclaimed Chief of Staff and Deputy. He is the leader of the so-called “Mahmudawa” cell hiding out in and around the Kainji National Park, straddling Niger and Kwara States up to the Benin Republic.

“Mamuda trained in Libya between 2013 and 2015 under foreign jihadist instructors from Egypt, Tunisia, and Algeria, specialising in weapons handling and IED fabrication.”
The NSA said the two men had been on Nigeria’s most-wanted list for years, having jointly spearheaded multiple attacks on civilians, security forces, and critical infrastructure.

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The Department of State Services (DSS) has filed terrorism charges against two senior commanders of Ansaru, a terror group reportedly linked to Al-Qaeda, over their alleged role in violent attacks
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Rewane: Nigeria’s GDP Will Hit $357bn if Power Supply Moves from 4,500MW to 8,000MW

Rewane: Nigeria’s GDP Will Hit $357bn if Power Supply Moves from 4,500MW to 8,000MW

Dike Onwuamaeze

The Managing Director of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has pointed out that Nigeria’s gross domestic product (GDP) could rise to $357 billion if electricity supply would increase from the present 4.500MW to 8,000MW.  

Rewane also noted that Nigeria has spent not less than $30 billion in the power sector in 26 years only to increase the country’s power generation by mere 500MW, from 4,500 MW in 1999 to 5,000MW in 2025 even though the sector has installed capacity to generate 13,000 MW.

He pointed these out in his presentation on September 3, 2025, at the Lagos Business School (LBS) Executive Breakfast Session titled ‘Nigeria Bailout or Lights Out: The Power Sector in a Free Fall’, where he stated categorically that the way out for the power sector that has N4.3 trillion indebtedness to banks would be either a bailout or lights out for Nigeria with its attendant consequences.
He said “According to the World Bank, a 1.0 per cent increase in electricity consumption is associated with a 0.5 to 0.6 per cent rise in GDP.

“If power supply rises to 8000MW, from current 4500MW, the bailout shifts money from government into investment, raising consumption and productivity. And due to multiplier effects, GDP could rise to $357 billion.”  
The FDC’s chief executive remarked that “in the last 30 years, Nigeria has invested no less than $30 billon to solve an intractable power supply problem.
“The initiatives, which started in 1999 when the power generated from the grid was as low as 4,500MW, have proved to be a failure at best.

“Twenty-six years later, and after five presidential administrations, the country is still generating 5,000MW. Nigeria is ranked as being in the lowest percentile of electricity per capita in the world.
“The way out is a bailout, or it is lights out for Nigeria,” he said.

He traced the origin of the huge debts of the power sector to its privatisation under President Goodluck Jonathan’s administration, when many of the investors thought they had hit a jackpot, only to find out to their consternation that they had bought a poisoned chalice.

Rewane defined a bailout as “injection of money into a business or institution that would otherwise face an imminent collapse,” noting that the bailout may be injected as loans, subsidies, guarantees or equity for the purpose of stabilising markets, protect jobs and restore confidence.

He said, “The president has promised to consider a financial bailout for the Gencos and Discos

“With a total indebtedness of N4.3 trillion to the banking system, the debt has shackled growth in the sector.”

Rewane warned that without implementing the bailouts for the power sector, the GENCOs and DISCOs would shut down at the risk of nationwide blackout.

 According to him, “the average output from the grid in the last 20 years has been stuck at 5,000MW making Nigeria rank in the lowest percentile of electricity per capita in the world.”

The economist said that the cost of the power sector’s bailouts include strains on government finances, crowding out of spending on health and education as well as its attendant moral hazard risk.

He added that the cost of bailouts in the sector has ranged from N213 billion, N701 billion, N600 billion in 2015, 2017 and 2020 respectively, to about N4 trillion in 2025.

Rewane, however, pointed out that implementing a bailout for the power sector could have a positive effect on the country’s economy if Nigeria’s actual power generation could rise from today’s 4,500 MW to around 8,000 and 10,000 MW.

The immediate gains, according to him, would include improved power generation and distribution capacity, more reliable electricity supply to homes and businesses as well as cost reflective tariffs.

Rewane also said that “firms can sell off non-core power assets (like diesel generator sets) to unlock capital; revenues redirected into core operations and expansion” and could operate on “more predictable costs and financial planning.”

He also said that the benefits of power sector bailout for the telecom firms in particular would include “lower tower downtime, cheaper running costs, stronger network outreach and multiplier effect of better network coverage across the economy” that will aid GDP’s growth.”

For now, the Nigeria’s power sector has been beset with “aging infrastructure, frequent blackouts, huge debts across the value chain, low tariffs and subsidy dependence, metering gaps and electricity theft,” Rewane said.

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Dike Onwuamaeze The Managing Director of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has pointed out that Nigeria’s gross domestic product (GDP) could rise to $357 billion if electricity
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NDLEA Nabs 26 Suspected Traffickers With 41,410.53kg of Illicit Drugs

NDLEA Nabs 26 Suspected Traffickers With 41,410.53kg of Illicit Drugs

Adibe Emenyonu in Benin Cit

The National Drug Law Enforcement Agency (NDLEA) Edo State Command has arrested 26 suspected drug traffickers, with a total of 41,410.53 kilogrammes of various narcotic drugs taken out of illicit circulation.
NDLEA Edo State Commander, Mitchell Ofoyeju, who disclosed this in Benin City yesterday while presenting the August 2025 progress report, noted that the command intensified operations, leading to numerous arrests, significant drug seizures, destruction of cannabis farms and crucial anti-drug abuse initiatives.

According to him, “The achievements were remarkable and underscored our proactive approach towards curbing drug-related crimes in Edo State. The 26 persons apprehended comprise 22 males and four females. Total drugs seized is 41,410.53 kilogrammes, and the breakdown revealed that cannabis accounted for over 99 per cent of the seized drugs with 41,387.36 kilogrammes.”

He listed other seizures as Tramadol 22.253kg, Swinol 0.3085kg, Danabol 0.0117kg, Diazepam 0.5163kg, Methamphetamine 0.0811kg, as well as 400 ml of Pentazocine and10 litres of Codeine cough syrup.
In a concerted effort against cannabis cultivation, the NDLEA said it destroyed four illegal cannabis plantations in the Ebule Forest, Owan West LGA, covering a total area of 15.852732 hectares, adding that the destroyed farms had an estimated yield of approximately 39,631.83kg of cannabis.

“Prominent among the arrests and seizures is the evacuation of 69 bags of skunk, a strong strain of cannabis from a three-bedroom bungalow at Uzebba in the Owan West local government area of the state. A 54-year-old woman, Fodo Stella Sunday, who hails from the area was arrested in connection with the seizure,” Ofoyeju stressed.

Similarly, the command said it raided a notorious drug location at RCC Junction, Sapele Road, Benin City, where three suspected drug traffickers were arrested with 2.05 kg of cannabis, 46 grammes of methamphetamine, 5 grammes of Danabol, 52 grammes of Swinol, 745 grammes of tramadol and 0.4 litres of Codeine, giving the names of suspects arrested as Itua Oselumen, 41 years from Esan West LGA of Edo State; Rabiu Yusuf, 38 years from Nasarawa LGA, Kano State; and Fahad Ahmed, 24 years who hails from Malumfashi LGA of Katsina State.

Ofoyeju further disclosed that as a result of the court vacation, no conviction was recorded in August; noting however that six charges were filed at the Federal High Court, Benin City just as he said that the agency’s commitment to legal proceedings highlight its dedication to ensuring justice for drug-related offences.

Besides, he said in line with NDLEA enforcement activities, the agency has engaged in significant drug demand reduction efforts as 13 clients received counselling services, while 11 are currently undergoing rehabilitation with sensitisation programmes held across various community locations, reaching hundreds of individuals. 

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Adibe Emenyonu in Benin Cit The National Drug Law Enforcement Agency (NDLEA) Edo State Command has arrested 26 suspected drug traffickers, with a total of 41,410.53 kilogrammes of various narcotic
The post NDLEA Nabs 26 Suspected Traffickers With 41,410.53kg of Illicit Drugs appeared first on THISDAYLIVE.