The All-Share Index fell by 0.16 per cent, dropping 394.36 points to settle at 250,273.50.
Market breadth closed negative with 34 losers outpacing 26 gainers, while overall trading activity weakened across volume and transaction metrics.
MAIN STORY
The Nigerian Exchange Ltd. (NGX) equities market experienced a downturn on Tuesday, shedding N256 billion amid broad-based profit-taking across 34 equities.
Market capitalization contracted by 0.16 per cent to close at N162.495 trillion, down from N162.751 trillion recorded during the previous trading session.
Concurrently, the benchmark All-Share Index decreased by 394.36 points, or 0.16 per cent, finishing the day at 250,273.50 compared to 250,667.86 previously. Consequently, the market’s year-to-date return moderated to 60.83 per cent.
Market breadth remained negative as 34 companies closed in the red against 26 advancing counters. Critical Minerals Financing Corporation led the losers’ chart with a 9.88 per cent decline to close at N3.65 per share.
ABC Transport followed, dropping 9.70 per cent to N6.05, while Computer Warehouse Group retreated by 7.23 per cent to settle at N19.25. Zichis Agro-Allied Industries and Neimeth International Pharmaceuticals also weighed on performance, falling 6.58 per cent and 6.17 per cent, respectively.
Conversely, Tripple Gee topped the gainers’ chart with a 9.77 per cent increase to finish at N2.81 per share. Livestock Feeds appreciated by 9.74 per cent to N10.70, and NPF Microfinance Bank rose 9.52 per cent to N4.60. Sovereign Trust Insurance and WAPIC also registered notable gains of 8.23 per cent and 7.69 per cent, respectively.
Trading activity weakened during the session. Total volume plunged by 33.82 per cent to 579.25 million shares, valued at N36.07 billion across 41,072 transactions. Access Corporation anchored the volume chart with 192.58 million shares traded, accounting for 33.25 per cent of total activity, while Aradel Holdings dominated trading value, contributing N7.63 billion or 21.14 per cent of the daily turnover.
THE ISSUES
Sustained profit-taking in key capitalized equities exerts downward pressure on key performance benchmarks despite an otherwise robust year-to-date trajectory.
Fluctuations in daily market liquidity and trading volume highlight shifting investor sentiment amid evolving macroeconomic conditions.
WHAT’S BEING SAID
“Critical Minerals Financing Corporation, ABC Transport, Computer Warehouse Group, Zichis Agro-Allied Industries and Neimeth International Pharmaceuticals were among the stocks that weighed on market performance.” – Market Trading Report
WHAT’S NEXT
Market participants will monitor mid-week trading sessions to determine whether buying interest emerges to reverse the current negative market breadth.
BOTTOM LINE
The Nigerian Exchange retreated as profit-taking in 34 listed equities wiped N256 billion from market capitalization, bringing the All-Share Index down to 250,273.50.
UN Secretary-General António Guterres called for an immediate end to the US-Iran conflict and the full restoration of global navigational rights during a joint press conference in Islamabad.
Guterres praised Pakistan for its diplomatic leadership in helping broker the June 17 Islamabad Memorandum of Understanding and subsequent ceasefire framework.
The UN chief also commended Pakistan’s contributions to peacekeeping, shelter for refugees, and its front-line leadership on climate action.
MAIN STORY
United Nations Secretary-General António Guterres called for an end to the United States-Iran war and the severe toll it has taken on global trade as he commenced an official two-day visit to Pakistan on Tuesday.
Speaking at a joint press conference alongside Pakistani Deputy Prime Minister Mohammad Dar at the Ministry of Foreign Affairs in Islamabad, Guterres delivered a direct appeal for regional de-escalation.
“From Islamabad, I want to send a loud and clear message to all parties. End the conflict. Return to diplomacy. Fully restore navigational rights and freedoms in accordance with international law,” Guterres stated.
The ongoing maritime crisis erupted in late February following joint US-Israeli strikes on Iran, prompting Tehran to launch retaliatory actions across Gulf nations and block commercial transit through the vital Strait of Hormuz chokepoint, stranding hundreds of vessels at sea. Concurrently, fighting has intensified along Yemen’s Red Sea coast near the Bab al-Mandab Strait.
Highlighting diplomatic breakthroughs, Guterres lauded Pakistan for its instrumental role in facilitating dialogue between Washington and Tehran.
“Your efforts helped deliver the June 17 Islamabad Memorandum of Understanding, the subsequent ceasefire, and the framework for further negotiations,” he noted, adding that every Pakistani should take pride in that pivotal contribution. Turning to broader geopolitical matters, Guterres emphasized that lasting regional peace requires fulfilling the right of self-determination for the Palestinian people.
The UN leader paid extensive tribute to Pakistan’s multilateral commitments, noting its status as a major contributor to UN peacekeeping operations with over 180 blue helmets giving their lives in service. He also acknowledged Pakistan and Denmark’s leadership on UN Security Council Resolution 2,823—which strengthens accountability for crimes against peacekeepers and secured a historic 153 co-sponsors.
Furthermore, Guterres praised Pakistan for hosting millions of Afghan refugees for decades, addressing domestic terrorism challenges, and demonstrating resilience on the front lines of climate vulnerability following the catastrophic 2022 floods.
THE ISSUES
Severe disruptions to critical international maritime trade routes, including the Strait of Hormuz and Bab al-Mandab, stemming from the ongoing US-Iran military conflict.
Balancing regional security, refugee humanitarian support, and climate adaptation in frontline nations like Pakistan amidst growing global geopolitical divisions.
WHAT’S BEING SAID
“End the conflict. Return to diplomacy. Fully restore navigational rights and freedoms in accordance with international law.”
António Guterres, UN Secretary-General
“Your efforts helped deliver the June 17 Islamabad Memorandum of Understanding, the subsequent ceasefire, and the framework for further negotiations.”
António Guterres, UN Secretary-General
WHAT’S NEXT
The UN Secretary-General will continue high-level bilateral discussions in Islamabad focusing on regional diplomacy, climate finance, and humanitarian cooperation.
BOTTOM LINE
UN Secretary-General António Guterres used his visit to Pakistan to demand an end to the US-Iran war and trade disruptions, while praising Islamabad’s diplomatic role in securing regional ceasefires.
UN Scores Nigeria Low in Provision of Humanitarian Services to Victims
KEY POINTS
Nigeria warned at the 63rd Session of the UN Human Rights Council in Geneva that the ongoing UN liquidity crisis must not disproportionately undermine human rights assistance to developing and conflict-affected nations.
Amb. Innocent Iwejuo, Nigeria’s Permanent Representative to the UN in Geneva, emphasized that technical assistance must be needs-based, respect national ownership, and remain free from political conditions.
The position links broader UN financial constraints to administrative challenges also managed in New York, where Nigeria chairs the General Assembly’s Fifth Committee.
MAIN STORY
Nigeria has warned that the United Nations liquidity crisis must not disproportionately undermine human rights assistance to developing and conflict-affected countries.
Nigeria made the call at the 63rd Session of the UN Human Rights Council in Geneva during discussions on technical assistance and capacity-building. The country reaffirmed the importance of practical assistance in strengthening national institutions and helping governments implement their international human rights commitments.
“At a time of resource constraint, adequate and predictable funding is essential,” said Amb. Innocent Iwejuo, Nigeria’s Permanent Representative to the UN Offices in Geneva. “The UN liquidity crisis must not disproportionately affect support to developing and conflict-affected countries.”
Nigeria said technical assistance should be needs-based, responsive to national priorities and provided with the consent of countries concerned. “National ownership is indispensable to achieving sustainable results,” the Nigerian representative said. The country stressed that international assistance should strengthen rather than replace domestic institutions.
It said support should address nationally identified needs, including legal implementation, administration of justice and implementation of accepted Universal Periodic Review recommendations. Nigeria also warned against politicising technical cooperation or attaching inappropriate conditions to assistance. It said cooperation under the Human Rights Council should remain constructive, non-politicised and free from pressure.
It aligned itself with the African Group, which has similarly pushed for predictable resources for developing countries seeking to strengthen national human rights institutions. Nigeria’s position comes as the wider UN system struggles with liquidity constraints caused partly by delayed or unpaid assessed contributions.
Nigeria has also raised similar financing concerns in New York, where its Permanent Representative, Amb. Jimoh Ibrahim, is chairing the General Assembly’s Fifth Committee responsible for administrative and budgetary matters. The Nigerian position consequently links the UN’s financial crisis directly to its ability to deliver practical support in developing countries.
Nigeria pledged continued constructive engagement with the Human Rights Council and UN mechanisms in building sustainable national capacities. It maintained that international cooperation should ultimately produce concrete improvements in human rights on the ground rather than simply expand institutional processes.
THE ISSUES
Balancing administrative budget shortfalls across the global UN apparatus against the critical delivery of field-level technical and human rights assistance.
Preventing the politicization of international capacity-building while ensuring national ownership over legal and judicial reforms in developing nations.
WHAT’S BEING SAID
“At a time of resource constraint, adequate and predictable funding is essential. The UN liquidity crisis must not disproportionately affect support to developing and conflict-affected countries.” – Amb. Innocent Iwejuo, Nigeria’s Permanent Representative to the UN Offices in Geneva
“National ownership is indispensable to achieving sustainable results.” – Nigerian Delegation Statement
WHAT’S NEXT
UN member states and administrative bodies will continue budget deliberations through the General Assembly framework to address institutional liquidity constraints.
BOTTOM LINE
Nigeria has urged the United Nations to shield human rights assistance and technical capacity-building from the impacts of the ongoing global liquidity crisis.
The World Bank upgraded Nigeria’s 2026 economic growth forecast to 4.3 per cent, up from previous projections, citing sustained economic reforms and improved macroeconomic management. LEADERSHIP Newspapers
Nigeria was highlighted alongside Angola, Ethiopia, and Zambia among nearly three-quarters of sub-Saharan African economies experiencing upward growth revisions. LEADERSHIP Newspapers
The international lender emphasized that future policy priorities must focus on translating headline growth figures into productive jobs and tangible improvements in household welfare.
MAIN STORY
The World Bank has upgraded Nigeria’s economic outlook, citing improving macroeconomic management and ongoing structural reforms as economic growth strengthens across much of sub-Saharan Africa.
In its latest Africa Economic Update, the international financial institution reported that Nigeria is among nearly three-quarters of African economies whose growth forecasts have been revised upward, standing alongside nations like Angola, Ethiopia, and Zambia.
“These gains reflect years of reforms and improved economic management,” said Andrew Dabalen, World Bank Chief Economist for Africa. Economic activity in Nigeria is projected to strengthen to 4.3 per cent in 2026, up from an estimated 4.0 per cent in 2025, before edging up further to an average of 4.4 per cent annually between 2027 and 2028.
Across the broader sub-Saharan African region, economic output is projected to expand by 4.3 per cent in 2026, bolstered by stronger domestic demand, improved resilience, and strategic investments in energy transition and digital infrastructure.
Despite the positive revisions, the World Bank warned that persistent headwinds, including geopolitical tensions, tighter financial conditions, natural disasters, disease outbreaks, and domestic security concerns continue to threaten the region’s recovery. Furthermore, the lender cautioned that current growth rates remain insufficient to dramatically reduce extreme poverty or absorb Africa’s rapidly expanding labor force.
Significantly, the report identified Nigeria as one of the continent’s emerging hubs for artificial intelligence activity, alongside Kenya and South Africa. While AI adoption remains in its early stages across Africa, the World Bank noted that locally adapted applications could transform sectors such as agriculture, healthcare, education, finance, and logistics, provided governments invest heavily in reliable electricity, affordable internet access, computing infrastructure, and digital skills.
Reiterating the central policy dilemma facing the continent, Dabalen stressed that the primary objective is no longer solely achieving higher macroeconomic figures. “The next challenge is turning growth into more jobs and better opportunities,” he stated, noting that Nigeria must leverage its stabilization phase to spur private investment, boost productivity, and strengthen human capital.
THE ISSUES
Bridging the gap between macroeconomic stabilization and micro-level job creation to ensure that rising GDP figures meaningfully reduce poverty and improve household welfare.
Expanding digital infrastructure and reliable energy access to harness emerging technologies like artificial intelligence for regional economic transformation.
WHAT’S BEING SAID
“These gains reflect years of reforms and improved economic management.” – Andrew Dabalen, World Bank Chief Economist for Africa
“The next challenge is turning growth into more jobs and better opportunities.” – Andrew Dabalen, World Bank Chief Economist for Africa
WHAT’S NEXT
African policymakers are expected to focus structural interventions on private sector investment, workforce development, and digital integration to sustain long-term economic expansion.
BOTTOM LINE
The World Bank has raised Nigeria’s 2026 economic growth forecast to 4.3 per cent, stressing that structural reforms must now translate into concrete employment opportunities and poverty reduction.
The African Union inaugurated the continent’s first credit rating agency, the Africa Credit Rating Agency (AfCRA), in Port Louis, Mauritius, following years of planning initiated in 2018.
AfCRA aims to provide an alternative to the “big three” global ratings agencies, offering risk assessments rooted in African data and realities to help improve borrowing terms.
The launch comes as African economies face mounting debt burdens, with annual external debt service surging to $163 billion in 2024.
MAIN STORY
The African Union (AU) has inaugurated the continent’s first credit rating agency on Wednesday, seeking to provide an alternative to the “big three” global ratings agencies as severe debt burdens weigh down economies across the region.
The launch of the Africa Credit Rating Agency (AfCRA) took place in Port Louis, the capital of Mauritius, where the new institution will be headquartered. The project represents the culmination of nearly a decade of institutional planning, following an endorsement by African leaders in 2018.
“AfCRA complements existing global credit rating agencies by offering a perspective rooted in African data, expertise and realities,” the African Union said in a statement. African leaders have frequently criticized Western rating agencies, accusing them of misjudging lending risks on the continent and issuing hasty downgrades during regional crises, pandemics, and conflicts.
While the major international agencies maintain that their methodologies are applied globally without bias—a finding supported by a 2024 Reuters investigation—African policymakers argue that traditional evaluations often inflate borrowing costs.
AfCRA will independently rate sovereign borrowers, financial institutions, and private companies, with operations supported by shareholder capital and commercial revenues, though specific shareholder details were not immediately disclosed by the AU. By offering more balanced, context-specific assessments, the agency intends to improve investor confidence and facilitate better access to international capital markets.
The initiative arrives amid escalating fiscal pressures resulting from years of heavy government borrowing. According to the AU, the continent’s annual external debt service escalated sharply to $163 billion in 2024, up from $61 billion in 2010.
In several nations, mounting interest payments now surpass entire national budgets allocated for critical public sectors like health and education. AfCRA hopes to alleviate these systemic burdens by enhancing market transparency, while also addressing a significant coverage gap for the 23 African economies currently lacking ratings from major global agencies.
THE ISSUES
Persistent debt distress and rising external debt service obligations across African economies strain national budgets and restrict spending on vital social sectors.
Discrepancies between global credit evaluation methodologies and localized economic realities continue to influence capital access and borrowing costs for African sovereigns.
WHAT’S BEING SAID
“AfCRA complements existing global credit rating agencies by offering a perspective rooted in African data, expertise and realities.” – African Union Statement
“AfCRA aims to reduce such burdens by improving investor confidence and market transparency.” – African Union Statement
WHAT’S NEXT
AfCRA will begin operations from its headquarters in Mauritius, rolling out sovereign and corporate credit evaluations designed to expand coverage across the continent’s unrated markets.
BOTTOM LINE
The African Union has launched the Africa Credit Rating Agency in Mauritius to provide alternative, context-specific debt evaluations and help mitigate high borrowing costs for regional economies.
Dr. Kandeh Kolleh Yumkella, former Director-General of the United Nations Industrial Development Organization (UNIDO), delivers the 6th Adeola Odutola Lecture at the Manufacturers Association of Nigeria (MAN) 54th Annual General Meeting (AGM) and Made-in-Nigeria Exhibition (MiNE 2026).
Theme: “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub”
Key discussion areas include: • National industrial policy • Manufacturing growth in Nigeria • Economic diversification • Infrastructure and industrial development • Africa’s industrial competitiveness • Investment and private sector growth • Sustainable industrialization and innovation
Special Guest of Honour: President Bola Ahmed Tinubu, GCFR, ably represented by the Minister of State for Industry in the Federal Ministry of Industry, Trade and Investment of Nigeria Sen. John Owan Enoh.
Date: October 6, 2026
Venue: Lagos Oriental Hotel, Victoria Island, Lagos
President Bola Ahmed Tinubu challenged Nigerian manufacturers to match federal industrialisation efforts with increased production capacity, local sourcing, and regional export expansion.
Speaking at the 54th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Tinubu outlined five core government pillars while emphasizing that stability is merely a foundation.
Former UNIDO Director-General Dr. Kandeh Kolleh Yumkella urged deliberate industrial action, targeted support for national champions, and integration into future-focused global supply chains.
MAIN STORY
President Bola Ahmed Tinubu has challenged Nigerian manufacturers to match the Federal Government’s renewed push for industrialisation with higher production capacity, deeper local sourcing, stronger skills development, and a more aggressive pursuit of African markets.
Tinubu, represented by the Minister of State for Industry, Senator John Owan Enoh, gave the charge at the 54th Annual General Meeting of the Manufacturers Association of Nigeria (MAN) in Lagos, where he acknowledged the difficult operating conditions facing manufacturers but said the government could not deliver Nigeria’s industrial ambitions alone.
The President’s message came as MAN’s annual gathering brought government officials, manufacturers, financiers, development partners, and industry stakeholders together around the theme, “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub.”
He said the Federal Government would work to provide the conditions required for manufacturers to compete, but challenged businesses to respond by expanding their productive capacity, increasing the use of Nigerian raw materials, and positioning themselves for markets beyond Nigeria.
“No nation has ever industrialized by government alone, and none has done it without government,” Tinubu said.
He outlined five areas where government would support industry: energy, capital, markets, security, and accountability. These include prioritising gas for industrial users and reliable power for industrial clusters, working with development finance institutions to provide patient and affordable financing, improving public procurement of Nigerian-made goods, protecting industrial corridors, and establishing a mechanism for publicly tracking the implementation of the Nigeria Industrial Policy.
But he also set out what government expected from manufacturers.
“Invest in capacity so that the plants you own run at the scale the market now demands,” he said. He also urged them to deepen backward integration, meet the standards of the markets they seek to enter, train and retain young Nigerians, and treat the African market as their home market.
“Government will clear the road; you must drive the trucks,” he said.
The challenge came against a manufacturing landscape that Tinubu described as showing both signs of improvement and significant weakness.
He noted that the sector recorded quarterly growth of 4.04 per cent in the first quarter of 2026, its strongest quarterly performance in four years, followed by 3.24 per cent growth in the second quarter. However, he also acknowledged that manufacturing’s share of real GDP fell from 9.57 per cent in the first quarter to 7.72 per cent in the second, while growth in the broader industrial sector declined from 7.46 per cent a year earlier to 3.96 per cent.
He further cited MAN’s estimate that unsold inventory in the sector stood at almost ₦1.2 trillion, with some manufacturers selling below production cost simply to keep their businesses operating.
“I say these things not to dampen the celebration, but to honour it,” Tinubu said. “A government that cannot face its numbers cannot change them.”
He said the Federal Government’s economic reforms were beginning to provide greater stability, pointing to lower inflation, the reduction in the Monetary Policy Rate, stronger external reserves, and economic growth.
But he stressed that stability was only a foundation for industrial expansion.
“Stability is not the destination. Stability is the runway,” he said.
The President said the Nigeria Industrial Policy, launched in February, aims to increase manufacturing’s contribution to GDP to between 20 and 25 per cent by 2030. He acknowledged that achieving that target would require far more than a policy document.
“Moving from under 10 per cent to over 20 per cent in a little more than four years is not a target for the faint-hearted,” he said. “It will not be reached by policy documents. It will be reached by power in your plants, by credit in your accounts, by raw materials at your gates, and markets for your goods.”
He said the Industrial Revolution Work Group, chaired by the Minister of State for Industry and co-chaired by the President of MAN, would provide a mechanism for tracking implementation through indicators including factories reopened, capacity utilisation, jobs created, exports, and new factories established.
The President also tied industrial expansion to Nigeria’s ambition to capture a larger share of the African market.
He said that although Nigeria recorded a record $6.1 billion in non-oil exports in 2025, only 3.4 per cent went to fellow ECOWAS countries, leaving the country’s closest regional market largely untapped.
With the African Continental Free Trade Area creating a single market of about 1.4 billion people, Tinubu said Nigerian manufacturers should regard Africa not as an export destination to be considered later, but as an extension of their domestic market.
“Nigeria will not be Africa’s warehouse, storing what others make; Nigeria will be Africa’s workshop, making what Africa needs, and sending it with pride across the continent and beyond,” he said.
The argument was reinforced by the guest speaker at the AGM, former Director-General of the United Nations Industrial Development Organization, Dr. Kandeh Kolleh Yumkella, who urged Nigeria to move from industrial policy to deliberate industrial action.
Yumkella said Nigeria had the resources, market, and emerging industrial champions needed to compete for the industries of the future, but warned that the country must deliberately create the conditions for those businesses to grow.
“Industrial policy must become industrial action,” he said.
He argued that government should not wait for successful Nigerian businesses to approach it for assistance. Instead, it should identify companies and sectors with the potential to become regional and global champions and deliberately support their expansion.
Using fertilizer, pharmaceuticals, automotive manufacturing, lithium processing, and digital transformation as examples, Yumkella said Nigeria could build stronger industrial ecosystems if government coordinated finance, infrastructure, skills, technology, and market access around strategic sectors.
He also stressed the importance of energy, recalling that power shortages had undermined Nigerian textile factories more than two decades ago when he visited manufacturing plants in Kaduna and Kano. The same problem, he said, remains a major constraint today.
For Yumkella, the opportunity is no longer limited to traditional manufacturing. Global supply chains are being reshaped, while artificial intelligence, renewable energy, battery storage, critical minerals, and digital technologies are creating new industrial opportunities.
“Nigeria has to think about the markets of tomorrow and the industries of tomorrow to build that base,” he said.
He also linked industrialisation directly to the employment challenge facing Africa. With West Africa’s population exceeding 450 million and a median age of about 18 to 20, he said the region needs to create millions of jobs every year.
“Manufacturing is the key,” Yumkella said, arguing that young people moving into cities need productive employment rather than repeated appeals for patience.
He called for stronger vocational and technical training designed around the actual skills required by factories, citing the German model of training factory-floor workers and the digital literacy evident in the operation of Togo’s port.
Yumkella also urged Nigeria to use its existing industrial champions as the foundation for further expansion.
“Don’t wait for them to ask for help. Ask them how you can help,” he said, urging government to identify strategic sectors and determine what support would allow Nigerian companies to expand across Africa.
His argument broadly aligned with the concerns raised by MAN President Otunba Francis Meshioye in his welcome address.
Meshioye said the success of the Nigeria Industrial Policy would depend on consistent implementation, institutional coordination, and measurable outcomes, rather than policy declarations alone.
He identified high electricity costs, weak infrastructure, expensive production inputs and logistics, unfair trade practices, policy uncertainty, skills and technology gaps, limited access to long-term finance, and dependence on imported inputs among the major constraints confronting manufacturers.
MAN consequently called for faster implementation of the industrial policy, affordable industrial electricity, stronger financing for manufacturers, improved infrastructure, greater foreign exchange support for productive businesses, stronger trade-defence measures, and deeper backward integration.
The association also proposed a Nigeria First Industrial Fund to provide long-term concessionary financing for technology upgrades and local value addition.
Meshioye said manufactured exports accounted for only ₦2.50 trillion, or 2.94 per cent, of Nigeria’s ₦85.13 trillion total exports in 2025, arguing that increasing industrial value addition must be central to Nigeria’s ambition of becoming Africa’s industrial hub.
The convergence between the three positions was clear: government has framed industrialisation as a shared responsibility, manufacturers are demanding that the operating environment be made more competitive, while Yumkella is urging both sides to focus on measurable industrial outcomes and the sectors that can create the next generation of African champions.
For Tinubu, the immediate test is whether the policy commitments translate into functioning factories, greater capacity utilisation, more Nigerian inputs, increased exports, and jobs.
For manufacturers, the challenge is to convert improved policy support into the productive capacity required to compete beyond Nigeria.
As Tinubu put it, the objective is not simply for Nigeria to consume what others produce, but to become a country capable of making what Africa needs.
THE ISSUES
Bridging the gap between macro-level economic stabilization and micro-level factory-floor operational challenges, including high energy expenses and unsold inventories.
Aligning public procurement frameworks and long-term financing strategies to support domestic manufacturing value addition and regional export competitiveness.
WHAT’S BEING SAID
“No nation has ever industrialized by government alone, and none has done it without government. Government will clear the road; you must drive the trucks.” – Bola Ahmed Tinubu, President of Nigeria
“Industrial policy must become industrial action. Don’t wait for them to ask for help. Ask them how you can help.” – Dr. Kandeh Kolleh Yumkella, Former Director-General, UNIDO
WHAT’S NEXT
The newly established Industrial Revolution Work Group will track policy execution indicators such as factory revivals, job creation, and export metrics under joint oversight by the Ministry of Industry and MAN.
BOTTOM LINE
President Tinubu challenged manufacturers to leverage the Nigeria Industrial Policy to scale up production and capture continental markets, even as industry leaders called for urgent action to resolve structural energy and financing constraints.
The Manufacturers Association of Nigeria (MAN) has called for robust implementation of national industrial frameworks to curtail heavy reliance on imported raw materials.
Speaking at the 54th Annual General Meeting in Lagos, MAN President Otunba Francis Meshioye revealed that Nigeria imported N3.53 trillion worth of raw materials in the first half of 2025 alone.
Industry leaders and policy experts emphasized that lowering energy costs, enforcing local procurement directives, and fostering academia-industry partnerships are critical to positioning Nigeria as Africa’s industrial hub.
MAIN STORY
The Manufacturers Association of Nigeria (MAN) has issued a stern call for the rigorous implementation of the country’s industrial policy, pointing to the unsustainable scale of foreign input dependence as local manufacturers grapple with systemic economic hurdles.
Addressing stakeholders in Lagos on Monday during the opening ceremony of the association’s 54th Annual General Meeting and the Made-in-Nigeria Product Exhibition, MAN President Otunba Francis Meshioye stressed that Nigeria’s ambition to emerge as Africa’s premier industrial hub hinges entirely on enhancing the competitiveness of domestic production. The high-profile three-day event, themed “Leveraging National Industrial Policy to Position Nigeria as Africa’s Industrial Hub,” brought together policymakers, investors, and industrial players to showcase local manufacturing capacity and evaluate strategic growth bottlenecks.
Meshioye drew sharp attention to official trade figures showing that Nigeria imported approximately N3.53 trillion worth of raw materials during the first half of 2025, with nearly N1.72 trillion originating from Asian markets alone. He argued that this massive outflow underscores an urgent national imperative to strengthen domestic supply chains and expand local manufacturing inputs. According to the MAN president, official industrial policies must transition beyond mere rhetoric to deliver measurable gains in manufacturing investments, plant capacity utilization, productivity, and job creation.
“For manufacturers, positioning Nigeria as an industrial hub requires more than expanding the volume of domestic production. It requires an operating environment that enables firms to produce competitively, deepen local value addition, develop domestic supply chains, invest in technology and capacity, and access markets within Africa and beyond,” Meshioye stated. He noted that structural barriers such as exorbitant energy costs, unreliable power supply, expensive financing, poor logistics networks, and unpredictable regulatory frameworks continue to cripple operational efficiency.
To counteract these headwinds, Meshioye demanded stronger state backing through the strict enforcement of public procurement laws. He urged President Bola Tinubu’s administration to mandate total compliance with Executive Orders 003 and 005, which prioritize local content and domestic goods, suggesting that government agencies failing to comply should face formal institutional sanctions.
Echoing these positions, Professor Ayo Omotayo, Director-General of the National Institute for Policy and Strategic Studies (NIPSS), warned that sustainable economic development remains unattainable without a thriving manufacturing backbone. Referencing fast-developing global economies, Omotayo noted that Nigeria’s rapidly expanding population makes heavy import dependency an acute threat to foreign exchange reserves. He asserted that successful industrialization relies heavily on execution quality rather than policy formulation alone, challenging industry leaders to identify local substitutes for imported raw materials and production machinery.
Omotayo also advocated for deliberate cultural shifts, proposing the creation of manufacturing clubs in universities to foster early youth engagement with industrial processes and strengthen institutional linkages between academia and industrial developers.
Exhibitors at the three-day fair demonstrated diverse domestic capabilities across household goods, plastics, beauty products, and heavy industrial supplies, with several firms noting recent export milestones into regional markets like The Gambia.
In his closing vote of thanks, MAN Director-General Segun Ajayi-Kadir underscored that the exhibition serves as a physical testament to the resilience of Nigerian manufacturers. However, Ajayi-Kadir reiterated that realizing the true potential of the national industrial policy requires unyielding, collaborative action between the public and private sectors to dismantle crippling operational bottlenecks and secure long-term economic competitiveness.
THE ISSUES
Heavy reliance on foreign raw material imports drains crucial foreign exchange reserves and exposes domestic production lines to external global shocks.
Persistent infrastructure deficits, high energy expenses, and weak enforcement of local content policies continue to stunt domestic manufacturing growth.
WHAT’S BEING SAID
“For manufacturers, positioning Nigeria as an industrial hub requires more than expanding the volume of domestic production. It requires an operating environment that enables firms to produce competitively, deepen local value addition, develop domestic supply chains, invest in technology and capacity, and access markets within Africa and beyond.” – Otunba Francis Meshioye, President, MAN
“It is not policy that will make manufacturing work. Policy has its own role, but eventually, it is how we approach the implementation of the policies.” – Prof. Ayo Omotayo, Director-General, NIPSS
“Addressing these challenges requires sustained policy action and effective collaboration between the government and the private sector. Nations can only industrialise by consistent and conscientious implementation.” – Segun Ajayi-Kadir, Director-General, MAN
WHAT’S NEXT
The three-day Made-in-Nigeria Exhibition and AGM proceedings will continue with specialized stakeholder panels aimed at forging public-private strategies to ease production bottlenecks and expand export channels.
BOTTOM LINE
The Manufacturers Association of Nigeria has pressed the federal government for immediate, actionable policy execution and strict compliance with local procurement mandates following revelations of over N3.5 trillion spent on imported raw materials.
Spot gold traded near $4,140 an ounce as traders weighed the impact of a stronger dollar and surging Treasury yields on Federal Reserve interest rate policy.
The US dollar hovered near yearly highs, supported by a weakening euro following a French bond selloff, creating headwinds for dollar-denominated commodities.
US Treasury yields climbed to multi-decade peaks following stronger-than-expected inflation data in the services sector, while markets await minutes from the Fed’s September meeting.
MAIN STORY
Gold prices remained largely steady as traders evaluated the dual pressures of a strengthening US dollar and climbing Treasury yields against the Federal Reserve’s future interest rate trajectory according to bloomberg.
Spot bullion held near $4,140 an ounce, pressured by a robust greenback that neared its highest level of the year. The currency strength was partly driven by a retreating euro amid a French bond selloff that heightened concerns over regional financial contagion.
Concurrently, US Treasuries faced renewed downward pressure, pushing longer-dated yields to multi-decade highs. Additional inflationary signals emerged from an Institute for Supply Management report indicating that cost pressures in the US services sector grew at their fastest pace in over four years.
Despite these metrics, Fed officials have tempered expectations for an immediate rate hike, with traders pricing in a modest probability of a borrowing cost increase at the central bank’s upcoming meeting.
Market participants are also looking ahead to the release of the minutes from the September meeting, where rates were adjusted for the first time in three years. Precious metals have faced sustained downward momentum, with gold falling over six percent the previous month and sliding significantly since the onset of the US-Iran conflict in late February.
THE ISSUES
Balancing the dampening effect of elevated Treasury yields and a strong dollar against safe-haven demand driven by macroeconomic uncertainty.
Managing inflationary pressures within the services sector while navigating the Federal Reserve’s path for monetary policy adjustments.
WHAT’S NEXT
Markets will monitor the release of the Federal Reserve’s September meeting minutes and ongoing macroeconomic reports to gauge the trajectory of future interest rate decisions.
BOTTOM LINE
Gold prices held near $4,140 an ounce as investors weighed a strong dollar and multi-decade high Treasury yields against shifting Federal Reserve monetary policy expectations.
Chinese artificial intelligence startup Moonshot AI has closed its final private fundraising round at a valuation of approximately $50 billion.
The company is targeting an initial public offering in Hong Kong during the first quarter of next year, with plans to raise up to $5 billion.
Moonshot has begun preparations to gauge investor sentiment through early-look meetings, backed by major coordinators including Bank of America, CICC, Deutsche Bank, and Goldman Sachs.
MAIN STORY
Moonshot AI has concluded its final private fundraising round at a valuation of about $50 billion, positioning itself for a major initial public offering in Hong Kong in the first quarter of next year, according to Bloomberg.
As one of the prominent leaders in China’s artificial intelligence sector, the Beijing-based lab gained substantial international attention following the July debut of Kimi K3, an open model competitive with top global platforms. Reports show that the planned listing is anticipated to be one of the largest technology deals in Hong Kong, with the firm considering raising up to $5 billion.
The startup’s valuation has surged significantly from a previous summer round that valued the company at $31.5 billion, driven by rapid growth in annual recurring revenue. However, media reports noted that the timeline and valuation remain subject to deliberation amidst broader regulatory scrutiny facing domestic AI developers, including recent data-security probes. Moonshot has confidentially filed for the transaction, enlisting an underwriting syndicate featuring Bank of America, China International Capital Corp., Deutsche Bank, and Goldman Sachs.
THE ISSUES
Navigating tighter regulatory oversight and data-security probes within China’s artificial intelligence sector presents potential compliance hurdles for upcoming public listings.
Balancing rapid valuation growth and high capital-raising targets against shifting market sentiment for frontier AI models requires rigorous governance and financial transparency.
WHAT’S NEXT
Moonshot AI will initiate preliminary investor-sentiment meetings this month ahead of its anticipated first-quarter public debut in Hong Kong.
BOTTOM LINE
Moonshot AI has secured a $50 billion valuation in its final private funding round and is pressing ahead toward a multibillion-dollar Hong Kong IPO early next year.
The US Strategic Petroleum Reserve (SPR) declined by nearly 800,000 barrels last week, leaving stockpiles at 283 million barrels—the lowest level since October 1982.
The Trump administration has moved forward with plans to solicit bids from companies to buy an additional 40 million barrels of crude oil from the reserve.
Global energy stockpiles remain under severe strain, with Saudi Aramco chief Amin Nasser describing worldwide reserves as scarily thin amid ongoing supply-demand imbalances.
MAIN STORY
The US Strategic Petroleum Reserve (SPR) dropped by almost 800,000 barrels last week, declining to 283 million barrels as the Trump administration presses ahead with plans to sell an additional 40 million barrels in the coming months.
New data released by the US Department of Energy highlights the dwindling backstop, which now covers roughly two weeks of domestic oil consumption. The depletion comes amid widespread global concerns regarding tight inventories, with Saudi Aramco Chief Executive Amin Nasser warning at a London energy forum that international stockpiles are critically low.
While coordinated G7 plans aim to release up to 100 million barrels of emergency fuel including frontloaded diesel supplies, drawdowns from the US reserve have steadily continued without immediate refills. President Donald Trump has expressed confidence that the strategic reserves will be rapidly replenished through energy agreements, notably pointing to arrangements involving Venezuela.
However, energy analysts caution that refilling the heavily depleted reserves will be a complex, multi-year process. Meanwhile, the administration is preparing executive actions to expand access to tax-exempt diesel to support agricultural sectors ahead of upcoming midterm elections.
THE ISSUES
Rapidly depleting strategic petroleum reserves to combat short-term price spikes risks leaving domestic infrastructure vulnerable to severe geopolitical supply shocks.
Balancing emergency fuel releases with the complex, long-term logistical challenges of refilling government reserves requires sustained policy coordination.
WHAT’S BEING SAID
“I’ll be helping [farmers] with diesel.” – Donald Trump, US President
“Releasing stockpiles will buy economies some time but won’t fix the imbalances that have developed between supply and demand.” – Amin Nasser, Chief Executive, Saudi Aramco
WHAT’S NEXT
The Department of Energy will review industry bids for the upcoming 40-million-barrel crude sale while monitoring the execution of coordinated G7 emergency fuel releases.
BOTTOM LINE
The US Strategic Petroleum Reserve has fallen to its lowest level since 1982 as the administration pursues additional crude sales and emergency fuel releases to tame energy prices
The Manufacturers Association of Nigeria (MAN) has called on political parties, the Independent National Electoral Commission (INEC), and government agencies to prioritize local products during electioneering activities.
Speaking at the 54th Annual General Meeting in Lagos, MAN President Francis Meshioye emphasized that increased patronage of made-in-Nigeria goods will stimulate industrial growth and job creation.
Stakeholders also highlighted critical manufacturing bottlenecks, including soaring energy costs and heavy reliance on imported production inputs.
MAIN STORY
The Manufacturers Association of Nigeria (MAN) has urged key political and government stakeholders to prioritize made-in-Nigeria products throughout the electioneering period.
Speaking in Lagos on Monday at the opening of the 54th Annual General Meeting and the Made-in-Nigeria Exhibition, MAN President Mr. Francis Meshioye stated that forthcoming elections offer a strategic platform to demonstrate active support for domestic industries. He called on the Independent National Electoral Commission (INEC), political parties, and government agencies to give preference to locally manufactured items.
Meshioye urged President Bola Tinubu to fast-track the implementation of Executive Orders 003 and 005 alongside the Nigeria First Policy, advocating strict sanctions for Ministries, Departments, and Agencies that fail to comply.
Echoing these sentiments, Prof. Ayo Omotayo, Director-General of the National Institute for Policy and Strategic Studies (NIPSS), noted that effective policy execution and lower energy costs are vital to positioning Nigeria as an industrial hub. MAN Director-General Segun Ajayi-Kadir added that the association is actively engaging universities through memoranda of understanding to bridge industry skill gaps and foster long-term technological collaboration.
THE ISSUES
Heavy reliance on imported production inputs and raw materials undermines domestic value addition and strains foreign exchange reserves.
High energy expenses and infrastructural deficits continue to constrain manufacturing competitiveness across domestic and regional markets.
WHAT’S BEING SAID
“All should give priority to the patronage of made-in-Nigeria items at this electioneering period and at all times and in all cases.” – Mr. Francis Meshioye, President, MAN
“It is not policy that will make manufacturing work. Policy has its own role, but eventually, it is how we approach the implementation of the policies.” – Prof. Ayo Omotayo, Director-General, NIPSS
WHAT’S NEXT
MAN will proceed with private sessions and specialized stakeholder panels during its three-day AGM to evaluate industrial policies and sector performance.
BOTTOM LINE
The Manufacturers Association of Nigeria has urged political actors and government agencies to champion local patronage during election campaigns to bolster domestic industrial growth.
Minister of Defence Gen. Christopher Musa expressed deep sorrow over the crash of a military aircraft with tail number NAF 931 involving Armed Forces personnel.
The incident claimed the lives of officers and airmen who were on a routine flight mission while serving the nation.
Musa stated that a comprehensive investigation into the circumstances surrounding the crash had been ordered to ascertain the cause and reinforce operational safety protocols.
MAIN STORY
The Minister of Defence, Gen. Christopher Musa, has expressed deep sorrow over the crash of a military aircraft with tail number NAF 931 involving personnel of the Armed Forces.
Musa, in a statement on Monday in Abuja, said the incident claimed the lives of officers and airmen who were on routine flight mission while serving the nation.
“This painful incident claimed the lives of brave officers and airmen who were engaged in routine flight mission while serving our nation with courage, unyielding devotion, and selfless patriotism. The loss of these valiant patriots is an irreparable blow not only to the military high command and their comrades-in-arms, but to the entire Federal Republic of Nigeria,” he said. Musa added that the officers and men exemplified the highest standards of military professionalism, loyalty and commitment to the defence of the fatherland.
Musa extended condolences to President Bola Tinubu, the leadership of the Armed Forces and families of the fallen heroes. He also condoled with families of civilians on board the ill-fated aircraft. Furthermore, the minister said a comprehensive investigation into the circumstances surrounding the crash had been ordered to ascertain the cause and ensure reinforcement of operational safety protocols across military aviation units.
THE ISSUES
Ensuring rigorous operational safety protocols across military aviation units is critical to safeguarding personnel during routine flight missions.
Investigating the root causes of military aircraft accidents helps maintain institutional readiness and operational accountability.
WHAT’S BEING SAID
“This painful incident claimed the lives of brave officers and airmen who were engaged in routine flight mission while serving our nation with courage, unyielding devotion, and selfless patriotism.” – Gen. Christopher Musa, Minister of Defence
“On behalf of the Ministry of Defence, I extend our heartfelt condolences to His Excellency, the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu, the leadership of the Armed Forces, and most especially, the immediate families, loved ones, and colleagues of our fallen heroes.” – Gen. Christopher Musa, Minister of Defence
WHAT’S NEXT
Authorities will proceed with a comprehensive investigation into the crash while providing support to the families of the fallen personnel and civilians.
BOTTOM LINE
Defence Minister Gen. Christopher Musa mourned the loss of military personnel and civilians in the NAF 931 aircraft crash, announcing that an investigation has been ordered to determine the cause.
Ambassador Jimoh Ibrahim, Nigeria’s Permanent Representative to the UN and Chairman of the Fifth Committee, has called for ongoing institutional reform that extends beyond the current UN80 initiative.
Speaking after presiding over the committee’s opening meeting for the 81st General Assembly session, Ibrahim highlighted widespread member state concerns regarding a heavy top-tier organizational structure.
He emphasized that accountability, trust, and resource efficiency remain essential to successful administrative change, noting that upcoming leadership transitions should not halt reform efforts.
MAIN STORY
Chairman of the United Nations Administrative and Budgetary Committee, Ambassador Jimoh Ibrahim, has urged member states to pursue continuous institutional reform, asserting that changes must not end with the existing UN80 framework.
Speaking after presiding over the Fifth Committee’s opening session for the 81st General Assembly, the Nigerian diplomat noted that administrative reform featured heavily in interventions from multiple delegations, including the United States, India, Mexico, and Barbados.
Ibrahim stated that the committee would examine reforms alongside strict standards of accountability, operational efficiency, and structural hierarchy. Addressing feedback from member states, he pointed out that concerns were raised regarding a top-heavy structure within the UN system, which the committee intends to review to ensure administrative fairness.
Stressing that trust and accountability form the bedrock of sustainable progress, Ibrahim drew parallels to domestic governance, noting that Nigeria’s ongoing administrative reforms served as a strong catalyst for fiscal discipline. He further emphasized that the upcoming transition to a new Secretary-General must maintain momentum rather than interrupt the organization’s modernization trajectory.
THE ISSUES
Streamlining a top-heavy organizational structure is critical for enhancing cost efficiency and operational responsiveness across the United Nations system.
Maintaining momentum on administrative and budgetary overhauls during UN leadership transitions requires consistent political will from member states.
WHAT’S BEING SAID
“Reform must be continuous; it shouldn’t be a one-off. We have the UN80 reforms already. What countries are saying is that, that should not be the end.” – Amb. Jimoh Ibrahim, Chairman, UN Fifth Committee
“A new secretary-general will be elected or appointed, and that means he or she must not stop the reform. Reform must be continuous.” – Amb. Jimoh Ibrahim, Chairman, UN Fifth Committee
WHAT’S NEXT
The Fifth Committee will continue evaluating budgetary proposals, administrative efficiency measures, and accountability frameworks during the 81st General Assembly session.
BOTTOM LINE
Ambassador Jimoh Ibrahim has called for sustained, continuous administrative and structural reforms at the United Nations, emphasizing accountability, efficiency, and leadership continuity during the 81st General Assembly session.
The International Criminal Court (ICC) publicly unsealed four arrest warrants against senior Taliban figures, accusing them of crimes against humanity for the systematic persecution of women and girls in Afghanistan.
The warrants target Taliban Supreme Leader Haibatullah Akhundzada, Chief Justice Abdul Hakim Haqqani, Education Minister Habibullah Agha, and Higher Education Minister Neda Mohammad Nadim.
Judges concluded that the suspects implemented oppressive government policies resulting in severe violations of fundamental human rights, including widespread educational bans, deprivation of movement, and institutionalized gender-based harm. Anadolu Ajansı
MAIN STORY
The International Criminal Court (ICC) has formally unsealed four arrest warrants for top-ranking Taliban officials, marking a major legal step addressing the sweeping suppression of women and human rights in Afghanistan.
Originally issued under seal between July and September 2025 to protect vulnerable witnesses and preserve judicial integrity, the public disclosure exposes the leadership chain allegedly responsible for systematic gender and political persecution since the regime’s return to power in August 2021.
The unsealed documents implicate Taliban Supreme Leader Haibatullah Akhundzada, Chief Justice Abdul Hakim Haqqani, Education Minister Habibullah Agha, and Higher Education Minister Neda Mohammad Nadim. According to the ICC Pre-Trial Chamber, reasonable grounds exist to hold all four criminally liable for ordering, inducing, or soliciting persecution as a crime against humanity under Article 7(1)(h) of the Rome Statute.
Judges emphasized that the systemic edicts imposed by the de facto government went beyond standard rule enforcement, specifically stripping women and girls of fundamental rights to education, employment, privacy, and freedom of movement, alongside politically targeting individuals perceived as allies to women’s rights.
Legal experts note that while the warrants represent a critical symbolic and accountability milestone for international justice, enforcement remains heavily constrained.
Because the ICC lacks an independent police force, execution depends entirely on state cooperation, leaving the suspects insulated within Afghanistan where the Taliban maintains absolute control. The Taliban leadership has consistently dismissed the court’s jurisdiction and legitimacy.
THE ISSUES
Enforcing international arrest warrants against de facto governing authorities remains structurally challenging when local regimes refuse cooperation and reject international judicial jurisdiction. Afghanistan International
Codifying systematic institutional oppression and gender-based discrimination as a crime against humanity under international law establishes vital legal precedents for protecting marginalized populations under authoritarian rule.
WHAT’S BEING SAID
“The chamber found that the suspects implemented a government policy resulting in severe violations of fundamental rights in connection with murder, imprisonment, torture, rape and enforced disappearance.” – ICC Pre-Trial Chamber Findings
“Afghanistan does not recognize any court under the title of the ‘International Court,’ nor does it attach any significance to its positions.” – Zabihullah Mujahid, Chief Spokesperson, Taliban Government The Standard (HK)
WHAT’S NEXT
The ICC will continue working with international bodies and member states to document ongoing human rights abuses in Afghanistan while monitoring potential pathways for future enforcement and suspect accountability.
BOTTOM LINE
The ICC has publicly unsealed arrest warrants for four senior Taliban leaders over the systematic persecution of women and girls, highlighting ongoing global efforts to hold the regime accountable for crimes against humanity.
UN Secretary-General António Guterres called for a peaceful future for Israelis and Palestinians ahead of the third anniversary of the October 7 Hamas attacks.
Guterres emphasized that Israelis and Palestinians must be able to live side by side in peace and security, while paying tribute to all victims of the conflict.
While acknowledging the ceasefire in place since October 2025, the UN chief urged for it to become permanent, calling for unhindered humanitarian aid and adherence to international law.
MAIN STORY
United Nations Secretary-General António Guterres appealed for a peaceful future for both Israelis and Palestinians on Monday, marking the approach of the third anniversary of the October 7, 2023, attacks led by Hamas.
Speaking in New York, Guterres stated, “Let this anniversary mark not only another year of mourning, but also a renewed determination to build a different future,” emphasizing that both peoples deserve to live side by side in peace, dignity, and security.
The October 7 attacks saw Hamas and allied groups kill over 1,200 people in Israel and abduct 251 hostages to Gaza, triggering a devastating multi-year war that has resulted in over 74,000 Palestinian deaths, according to figures from Gaza’s health authorities.
Relations between Israel and the United Nations have remained heavily strained throughout the conflict, marked by Israeli accusations of bias against Guterres and continuous UN criticisms regarding military conduct in the enclave.
While noting that a fragile ceasefire has held since October 2025, Guterres stressed that the truce has yet to deliver adequate security, recovery, or sufficient humanitarian relief. He condemned the initial atrocities while insisting that the profound suffering of Palestinians in Gaza must also end.
Urging all parties to advance the peace process, Guterres called for the ceasefire to be made permanent, demanded large-scale humanitarian access, and stressed the urgent need to rebuild a credible political framework for lasting regional stability.
THE ISSUES
Sustaining a fragile ceasefire requires robust international monitoring and strict adherence to humanitarian protocols to prevent renewed hostilities in the region.
Repairing diplomatic relations between the Israeli government and United Nations leadership remains critical for coordinating effective post-conflict reconstruction and aid delivery.
WHAT’S BEING SAID
“Let this anniversary mark not only another year of mourning, but also a renewed determination to build a different future” – António Guterres, UN Secretary-General
“Nothing can justify these atrocities.” – António Guterres, UN Secretary-General
“Their suffering, too, demands an end, now.” – António Guterres, UN Secretary-General
WHAT’S NEXT
International mediators will push for the transition of the current ceasefire into a permanent cessation of hostilities alongside scaled-up humanitarian assistance programs in Gaza.
BOTTOM LINE
Ahead of the third anniversary of the October 7 attacks, UN Secretary-General António Guterres urged Israelis and Palestinians toward lasting peace, calling for a permanent ceasefire and unhindered humanitarian relief.
France faces a nationwide day of action as student-led protests regarding deteriorating school conditions and learning environments enter their second consecutive week.
Demonstrations and rallies are scheduled in major urban centers, including Paris, Lyon, Marseille, and Toulouse, backed by education unions calling for strikes.
Tensions have escalated following violent clashes and an incident in Lens where a 15-year-old pupil lost a hand after picking up an explosive device allegedly thrown by police.
MAIN STORY
France is bracing for widespread disruptions and a fresh wave of demonstrations on Tuesday as student protests over inadequate school infrastructure and learning environments enter their second week.
Student representatives have called for nationwide rallies, featuring a major demonstration scheduled for 2 pm at the Place de la République in Paris, alongside coordinated protests in Lyon, Lille, Marseille, Toulouse, Bordeaux, Rennes, and Strasbourg. Several prominent education unions have endorsed the mobilization, with some calling for parallel strikes that threaten to broaden the movement beyond secondary school pupils.
The demonstrations have increasingly been marred by unrest. Recent days have seen sporadic violence, with circulating videos capturing clashes between protesters and law enforcement officers.
The movement faced intense scrutiny following an incident in Lens, northern France, where a 15-year-old pupil lost a hand after reportedly picking up a projectile that exploded. Eyewitness reports allege the non-lethal stun grenade was tossed by police, prompting the police inspectorate general to launch an immediate investigation.
The development has intensified public outcry over allegations of excessive force and police brutality against young demonstrators.
In response to the crisis, Prime Minister Sébastien Lecornu urged government ministries on Sunday to deliver concrete improvements across national educational facilities and address student grievances.
Despite government appeals, fresh blockades and demonstrations were recorded across hundreds of schools on Monday, highlighting deep-seated frustrations over structural neglect and resource shortages.
THE ISSUES
Balancing the maintenance of public order with the protection of demonstrators’ rights is a critical challenge for security forces during high-stakes youth mobilizations.
Addressing infrastructural decay, crowded classrooms, and teacher shortages requires sustained fiscal investment to resolve the root causes of student discontent.
WHAT’S BEING SAID
“We must introduce concrete improvements at schools across the country and listen to pupils’ legitimate concerns.” – Sébastien Lecornu, Prime Minister of France
WHAT’S NEXT
Authorities will monitor nationwide rallies and union-backed strikes while investigators review the conduct of security forces during recent high school demonstrations.
BOTTOM LINE
French student protests over poor school conditions have entered a volatile second week, prompting nationwide rallies, union strikes, and increased scrutiny over police tactics following severe injuries.
Pakistan, Turkey, and Saudi Arabia agreed during an emergency meeting in Riyadh to immediately implement a joint defense pact and rapidly deploy military forces to counter escalating Houthi threats.
The high-level consultations were convened specifically to address mounting security pressures against the kingdom, including armed incursions and attacks on vital energy infrastructure by Yemen’s Houthi militia.
Pakistani Defence Minister Khawaja Asif clarified that while Saudi forces spearhead active combat operations in Yemen, Pakistani and Turkish personnel maintain supportive and reconnaissance roles.
MAIN STORY
Pakistan, Turkey, and Saudi Arabia have committed to the rapid deployment of military forces and capabilities following an emergency session held in Riyadh on Monday, responding directly to mounting security pressures from Yemen’s Houthi militia.
The tripartite consultation was convened to address intensified Houthi advances and strategic attacks on regional energy infrastructure. In a joint statement, the three allies announced they would immediately begin executing collective defense commitments under their bilateral and trilateral security frameworks.
The agreement builds upon regional defense arrangements signed in August, which incorporate mutual defense clauses similar to NATO’s collective security framework.
While the joint statement did not disclose specific troop numbers or equipment allocations, Pakistani Defence Minister Khawaja Asif clarified to local media that while Saudi ground forces spearhead combat operations alongside the Yemeni government, Pakistani and Turkish contingents, some of whom are already stationed in the region under legacy partnerships—provide essential support and reconnaissance capabilities.
THE ISSUES
Operationalizing multinational mutual defense frameworks requires precise coordination of logistical supply lines and command structures to effectively counter insurgent threats.
Balancing regional deterrence strategies against active Houthi attacks remains critical to safeguarding vital energy pipelines and maintaining stability in the Arabian Peninsula.
WHAT’S BEING SAID
“The Parties agreed to move immediately toảng the practical implementation of the collective defence commitments and to take the necessary measures to provide the agreed military forces and capabilities and ensure their rapid deployment in the Kingdom.”
Joint Official Statement, Riyadh Summit
“Both countries were present in the operational area, but only Saudi forces were involved in combat, with Pakistan involved in reconnaissance activities.”
Khawaja Asif, Defence Minister, Pakistan
WHAT’S NEXT
Military leadership from Saudi Arabia, Pakistan, and Turkey will finalize operational logistics and deployment timelines for the designated support and reconnaissance units.
BOTTOM LINE
Pakistan, Turkey, and Saudi Arabia have agreed to rapidly deploy military forces to the kingdom under a joint defense pact to counter escalating security threats from Yemen’s Houthi militia.
In this exclusive conversation at the Made in Nigeria Expo 2026, Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria (MAN), shares insights on the state of manufacturing, the dangers of fake, counterfeit and substandard products, and the importance of patronising Made-in-Nigeria products to strengthen local industry and Nigeria’s industrialisation
He also highlights the need for stronger government support against smuggling and unfair import competition, while showcasing the quality, innovation and global potential of Nigerian-made products.
A key part of the conversation focuses on the next generation of manufacturers, with students from the Lagos State University of Science and Technology (LASUSTECH) taking part in the programme and emphasising that young Nigerians are not just the future leaders of manufacturing—they are already part of its present.
Watch the full exclusive interview for expert analysis, industry perspectives and a look at the future of Nigerian manufacturing.
Electricity consumers across Kubwa, Dutse, and Dei-dei in the Federal Capital Territory (FCT) have appealed to the Abuja Electricity Distribution Company (AEDC) to urgently address erratic power supply.
Residents report receiving only three to five hours of electricity daily—and sometimes none at all—crippling local businesses such as welding shops, fashion design, and catering.
Artisans and business owners noted that soaring fuel prices make heavy generator reliance unaffordable, while alternative energy sources like solar remain financially out of reach for many households.
MAIN STORY
Residents and business owners in the Federal Capital Territory (FCT), particularly within Kubwa, Dutse, and Dei-dei, have raised serious concerns over worsening power supply, urging the Abuja Electricity Distribution Company (AEDC) to take immediate remedial action.
In interviews with the News Agency of Nigeria (NAN) on Sunday, consumers decried the epileptic power situation, noting that supply frequently falls short of five hours daily, severely inflating the cost of doing business and preserving perishable goods.
Local artisans detailed the crippling financial toll exacted by the outages. Mr. James Odibo, a welder in Kubwa, stated that he receives less than five hours of electricity daily and struggles to afford expensive fuel for his generator.
Similarly, fashion designer Mrs. Augusta Obi and caterer Mrs. Patricia Osagie reported that power shortages disrupt their daily operations, while civil servant Mrs. Ejiro Umokoro lamented that intermittent night-only restorations are inadequate to run refrigerators, resulting in spoiled foodstuffs.
Another resident, Mr. Lekan Ademola from Dei-dei, explained that while many households have turned to solar energy as an alternative, the high capital cost places it beyond the reach of average citizens.
The persistent power deficits underscore the ongoing challenges faced by distribution companies in balancing load allocation and infrastructural demands. Consumers have directly appealed to AEDC and relevant federal authorities to stabilize the grid and boost generation delivery within the FCT to alleviate operational hardships for small businesses and households alike.
THE ISSUES
Severe electricity rationing and prolonged blackouts disproportionately increase operating expenses for small and medium enterprises relying on expensive fossil-fuel generators.
High initial capital requirements for alternative energy sources like solar power limit widespread adoption among low- and middle-income households in the FCT.
WHAT’S BEING SAID
“We don’t get electricity up to five hours a day. I have to depend on generator to do my business and to get fuel to power it is difficult as the cost has gone up and I cannot afford it.” – Mr. James Odibo, Welder and Kubwa Resident
“Sometimes it will be restored in the night for just two hours and this cannot power my refrigerator as my foodstuff in the freezer are going bad.” – Mrs. Ejiro Umokoro, Civil Servant and Kubwa Resident
WHAT’S NEXT
AEDC officials are expected to review distribution networks across the affected FCT satellite towns to address persistent load shedding and grid imbalances.
BOTTOM LINE
FCT electricity consumers in Kubwa, Dutse, and Dei-dei have urged the AEDC to improve daily power availability, warning that chronic supply cuts and high fuel costs are crushing local businesses.
