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One million worshippers expected at Calabar gospel crusade

KEY POINTS

  • One million worshippers are expected at the CFAN Gospel Crusade in Calabar from Nov. 12 to 15.
  • Organisers expect 100,000 counsellors and 5,000 ushers to support the four day programme.
  • CFAN says the crusade will focus on evangelism, discipleship and strengthening local churches.
  • Organisers also expect the event to generate business activity across the state.
  • The programme is expected to promote peace, unity and community engagement.

MAIN STORY

About one million worshippers are expected to converge on Calabar for the Christ for All Nations Gospel Crusade scheduled for Nov. 12 to 15, organisers have said.

The Chairman of the Pentecostal Fellowship of Nigeria in Cross River, Trinity Ogar, disclosed this during a breakfast meeting with clerics in Calabar on Wednesday.

Ogar said the four day programme, tagged “Calabar 2026”, would involve about 100,000 counsellors and 5,000 ushers as organisers prepare for the expected turnout.

He described the crusade as a major evangelistic programme intended to reach people across Cross River and beyond.

According to him, Cross River is among the 36 states selected to host the CFAN Gospel Crusade.

Ogar said the ministry’s return to Calabar was significant, noting that the late Reinhard Bonnke and David Kolenda had previously visited the city for gospel crusades.

He urged residents, churches and Christians across the state to participate in the programme, which he said was expected to bring conversions, healing, liberation and spiritual revival.

Also speaking, CFAN Africa Regional Director, Rev. John Darku, said the crusade was designed to strengthen existing churches rather than create competition among them.

He explained that converts and new members reached through the programme would be connected with local congregations for continued discipleship and integration after the crusade.

Darku said the organisers expected the impact of the event to extend to the local economy, as visitors could patronise hotels, restaurants, markets, transport services and other businesses during their stay in Calabar.

He also linked the programme to peace and community cohesion, saying the gospel could encourage citizens to regard one another as neighbours rather than rivals.

The regional director said the organisers ultimately hoped to see people move away from destructive lifestyles, families reconciled and individuals restored to God.

THE ISSUES

  1. The expected turnout makes the crusade a major logistical undertaking, with organisers planning for 100,000 counsellors and 5,000 ushers to support participants throughout the four day programme.
  2. The organisers are placing emphasis on what happens after the event, particularly the integration of converts and new members into existing churches through discipleship and continued fellowship.
  3. The expected influx of visitors could create additional demand for accommodation, food, transportation and other services, providing business opportunities for traders, artisans and hospitality operators.
  4. The organisers also see the programme as a platform for promoting peace and social cohesion by encouraging relationships across ethnic, religious and political differences.

WHAT’S BEING SAID

“God is involved, the heavens are fully in support, and we are ready for the move of God in Calabar like never before.” – Trinity Ogar

“This crusade is not designed to compare churches in Cross River. It is designed to strengthen the churches.” – Rev. John Darku

“When the gospel goes forth, citizens begin to see one another not as rivals, but as neighbours under one God.” – Rev. John Darku

WHAT’S NEXT

Organisers are mobilising churches, counsellors, ushers and other participants ahead of the Nov. 12 to 15 programme, while local congregations are expected to support the follow up and discipleship of people reached during the crusade.

BOTTOM LINE

The Calabar 2026 crusade is being positioned as a large scale evangelistic gathering with expected effects on churches, community relations and local business activity.

NAF receives five new helicopters to boost air operations

KEY POINTS

  • Nigerian Air Force has received five new helicopters as part of ongoing fleet modernisation.
  • The delivery comprises three AW 109 Trekker B helicopters and two H 125 helicopters.
  • Seven additional AW 109 helicopters are expected before the end of 2026.
  • The new platforms are expected to improve surveillance, combat support and search and rescue operations.
  • NAF says the additional rotary wing capacity will strengthen support for ground forces.

MAIN STORY

The Nigerian Air Force has received five new helicopters as the Federal Government steps up efforts to expand and modernise the country’s airpower capabilities.

The Director of Public Relations and Information, NAF, Air Commodore Ehimen Ejodame, disclosed this in a statement on Tuesday in Abuja.

The delivery consists of three AW 109 Trekker B helicopters produced by Leonardo Helicopters of Italy and two H 125 helicopters manufactured by Airbus Helicopters.

Ejodame said the three AW 109 helicopters were received in Lagos on Sept. 15 and formed part of 10 helicopters recently acquired by the Federal Government. The remaining seven are expected to arrive before the end of 2026.

The two H 125 helicopters had been delivered earlier, he said.

Chief of the Air Staff, Air Marshal Sunday Aneke, described the latest delivery as a significant step in the government’s investment in the modernisation and re equipment of the Air Force.

He said the additional aircraft would increase asset availability and improve the Service’s ability to respond across different operational theatres.

“The arrival of these five helicopters provides greater flexibility in the employment of airpower in support of ground troops in ongoing operations,” Aneke said.

The AW 109 Trekker B helicopters are expected to expand NAF capabilities in intelligence, surveillance and reconnaissance, close air support, armed escort, combat search and rescue and joint operations with surface forces.

The H 125 helicopters, meanwhile, are intended to provide light helicopter support for various operational requirements.

Aneke said the aircraft were undergoing post delivery assembly before their formal induction and deployment. The process includes technical checks and preparation of air and ground crews for operations.

He said the NAF would also focus on maintenance and logistics support to ensure the aircraft remain available for operational use.

According to him, the increased rotary wing capacity would improve support for joint forces tackling terrorism, kidnapping and banditry while increasing the speed and reach of air support to ground troops.

THE ISSUES

  1. The latest delivery increases the number of rotary wing platforms available to the Air Force and is part of the government’s broader effort to modernise its fleet.
  2. The AW 109 helicopters are intended for a wide range of missions, including surveillance, armed escort, combat search and rescue and close air support, giving commanders additional options during operations.
  3. The arrival of new aircraft does not immediately translate into operational deployment, as the helicopters are still undergoing assembly, induction and technical and crew readiness processes.
  4. Sustaining the aircraft after delivery will depend on effective maintenance and logistics support, which the Air Force says will remain a priority.

WHAT’S BEING SAID

“The arrival of these five helicopters provides greater flexibility in the employment of airpower in support of ground troops in ongoing operations.” – Air Marshal Sunday Aneke

“His commitment is enabling us to progressively build the capabilities required to meet our operational responsibilities and confront the nation’s evolving security challenges.” – Air Marshal Sunday Aneke

“We will continue to prioritise effective employment, maintenance and logistics sustainment so that every aircraft delivered adds measurable value to ongoing operations and protection of lives and property of Nigerians.” – Air Marshal Sunday Aneke

WHAT’S NEXT

The five helicopters will undergo post delivery assembly, induction and operationalisation, including technical and crew readiness procedures. The remaining seven AW 109 helicopters are expected before the end of 2026.

BOTTOM LINE

The five helicopters add to NAF’s rotary wing capacity as the Federal Government continues its fleet modernisation programme. Their eventual deployment is expected to expand air support for ongoing security operations.

Slovakia president backs EU, NATO membership and diplomacy

KEY POINTS

  • Slovak President Peter Pellegrini reaffirmed the importance of EU and NATO membership to Slovakia.
  • He said there are currently no alternatives capable of guaranteeing the country’s security and economic prosperity.
  • Pellegrini called for stronger diplomatic and economic ties with countries including India and China.
  • He urged the EU to strengthen its security capacity, reduce energy costs and improve cooperation among member states.
  • He said the Ukraine conflict should be addressed through diplomacy rather than military action.

MAIN STORY

Slovak President Peter Pellegrini has reaffirmed the importance of the country’s membership of the European Union and NATO, while calling for stronger international diplomatic and economic relations.

Speaking on Wednesday, Pellegrini said Slovakia could maintain critical views about how both organisations operate, but argued that neither currently has a viable alternative capable of providing comparable guarantees for the country’s security and economic prosperity.

He said the changing international environment also required Slovakia to broaden and strengthen its relations with countries beyond Europe and the transatlantic alliance.

“A changing international environment requires Slovakia to maintain good diplomatic and economic relations with countries around the world,” Pellegrini said.

He identified India and China as increasingly important partners, particularly because of the opportunities they offer Slovakia’s open economy.

The Slovak president also expressed concern over changes in international politics, including what he described as a decline in transatlantic cooperation.

He said these developments had not yet resulted in the EU becoming more efficient or reassessing its priorities sufficiently.

Pellegrini called for greater efforts to strengthen the EU’s capacity to act, improve internal and external security and deepen cooperation among member states.

He also highlighted energy costs, urging greater cooperation within the bloc to help reduce them, while calling for stronger efforts to promote peace, particularly in relation to the conflict in Ukraine.

According to Pellegrini, the years of fighting in Ukraine demonstrate the need to pursue a diplomatic solution rather than seek an outcome on the battlefield.

“The EU’s vision should therefore be to seek a peaceful, rather than a military solution,” he said.

THE ISSUES

  1. Slovakia’s position reflects the continued importance of EU and NATO membership to its security and economic policy, even as the country maintains criticisms of how the institutions operate.
  2. Pellegrini’s reference to India and China points to the importance of diversifying Slovakia’s diplomatic and economic relationships as international alliances and trade relationships evolve.
  3. Energy costs remain an area where the Slovak president wants greater cooperation among EU member states, linking economic competitiveness with closer coordination within the bloc.
  4. On Ukraine, Pellegrini is advocating diplomacy as the route to a settlement, placing negotiations and peace efforts ahead of continued military confrontation.

WHAT’S BEING SAID

“A changing international environment requires Slovakia to maintain good diplomatic and economic relations with countries around the world.” – Peter Pellegrini

“The EU’s vision should therefore be to seek a peaceful, rather than a military solution.” – Peter Pellegrini

WHAT’S NEXT

Pellegrini called for stronger EU cooperation on security, energy costs and peace efforts, while Slovakia continues developing diplomatic and economic relations with countries including India and China.

BOTTOM LINE

Pellegrini reaffirmed Slovakia’s commitment to EU and NATO membership while calling for broader international engagement and greater emphasis on diplomacy in resolving the Ukraine conflict.

Sisi, Abbas discuss Gaza ceasefire and political settlement

KEY POINTS

  • Egyptian President Abdel Fattah el Sisi and Palestinian President Mahmoud Abbas met in Cairo on Wednesday.
  • The talks focused on consolidating the Gaza ceasefire and advancing a political settlement.
  • Egypt said it would continue working with mediators to implement the October 2025 Sharm El Sheikh Peace Summit agreement.
  • The two leaders called for humanitarian access, early recovery and reconstruction in Gaza.
  • They agreed to strengthen political coordination over developments in the Palestinian territories and the wider region.

MAIN STORY

Egyptian President Abdel Fattah el Sisi and Palestinian President Mahmoud Abbas have agreed to intensify coordination on efforts to sustain the Gaza ceasefire and advance a political settlement to the Palestinian issue.

The Egyptian presidency disclosed this after the two leaders met in Cairo on Wednesday.

El Sisi reaffirmed Egypt’s support for what he described as a just and comprehensive settlement, saying the Palestinian issue would remain central to the region until an agreement securing Palestinian rights was reached.

He said Egypt would continue working with mediators to implement the agreement reached at the Sharm El Sheikh Peace Summit in October 2025, which sought to end the war in Gaza.

The Egyptian president urged all parties to comply with the agreement by avoiding further escalation, facilitating the delivery of humanitarian assistance and creating conditions for early recovery and reconstruction in Gaza.

He also restated Egypt’s opposition to the displacement of Palestinians and to measures that could undermine their national cause.

The talks also covered Palestinian political affairs, with El Sisi expressing support for the Palestinian National Authority and efforts to build consensus among Palestinian factions.

Abbas commended Egypt’s efforts to protect Palestinian rights and support attempts to reach a sustainable political settlement.

He also briefed El Sisi on developments in the Palestinian territories, including what he described as a deteriorating situation in the West Bank linked to Israeli occupation policies.

The two presidents agreed to step up political consultations and coordination at various levels as developments in the Palestinian territories and the wider region continue.

THE ISSUES

  1. The ceasefire remains a central focus of the discussions, with Egypt pushing for compliance with the October 2025 agreement and measures aimed at preventing renewed escalation.
  2. Humanitarian assistance, recovery and reconstruction are also tied to implementation of the ceasefire, with Egypt calling for conditions that would allow aid to reach affected Palestinians.
  3. The talks included the wider political question of Palestinian statehood and rights, with Egypt reaffirming its opposition to displacement and its support for the Palestinian National Authority.
  4. Developments in the West Bank were also raised, highlighting that the discussions extended beyond the Gaza ceasefire to the broader situation in the Palestinian territories.

WHAT’S BEING SAID

“The Palestinian issue will remain central to the region until an agreement guaranteeing the rights of Palestinians was reached.” – Abdel Fattah el Sisi

“Egypt’s longstanding role as a key supporter and mediator in efforts to resolve the Palestinian issue.” – Mahmoud Abbas

WHAT’S NEXT

Egypt and Palestine are expected to maintain political consultations and coordination over developments in the Palestinian territories and the wider region, while Egypt continues working with mediators on implementation of the ceasefire agreement.

BOTTOM LINE

The Cairo meeting focused on sustaining the Gaza ceasefire while keeping negotiations over a broader political settlement on the regional agenda.

Tinubu mourns Olu Jacobs, calls him creative industry giant

By Annette Ikponmwonba | September 16, 2026

Key Points

· President Bola Tinubu has mourned veteran Nollywood actor Olu Jacobs, who died at age 84

· Jacobs’ death was announced by his son, Olusoji Jacobs, on Instagram on Wednesday

· Tinubu described him as one of Nigeria’s most distinguished actors and a towering figure across theatre, television and film

· The President praised his role in professionalizing Nigeria’s entertainment industry and inspiring generations of actors and filmmakers

· Jacobs trained at London’s Royal Academy of Dramatic Arts and built a career in British television before returning to Nigeria

· He was conferred with the national honour of Member of the Order of the Federal Republic

Main Story

President Bola Tinubu has mourned veteran Nollywood actor and film executive, Oludotun Baiyewu Jacobs, popularly known as Olu Jacobs, who died at age 84. His death was announced by his son, Olusoji Jacobs, on Instagram on Wednesday, In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu described the late actor as one of Nigeria’s most distinguished actors and a towering figure whose career spanned theatre, television and film globally. The President said Jacobs contributed significantly to the development and professionalisation of Nigeria’s entertainment industry, and inspired generations of actors and filmmakers through his talent, discipline and dedication to his craft, Tinubu also praised Jacobs’ ability to bring depth, dignity and authenticity to the characters he portrayed, saying this quality earned him admiration both within Nigeria and internationally.

The Issues

Jacobs’ passing marks the loss of one of the foundational figures who helped shape Nigeria’s film industry into what it has become today. His career trajectory, training at London’s Royal Academy of Dramatic Arts before building a career in British television and international film, and eventually returning to Nigeria to become a major figure in the country’s film industry, reflects a rare bridge between global professional theatre training and the growth of Nollywood as a distinct industry.

His death also draws attention to the broader question of how Nigeria honours and preserves the legacies of its pioneering creative figures. Tinubu’s statement specifically framed Jacobs’ contributions within the context of Nigeria’s cultural identity, global image and economic development, underscoring how central figures like Jacobs have been to establishing the creative industry as a serious economic and cultural force rather than a peripheral sector.

What’s Being Said

Tinubu was expansive in his tribute, describing Jacobs as a giant of the Nigerian creative industry whose passing represents a great loss to Nigeria, the African film industry and the global community of lovers of the performing arts. He added that Jacobs’ remarkable body of work would continue to speak to generations yet unborn.

The President also tied Jacobs’ individual legacy to a broader national narrative, stating that the nation recognises the enormous contributions of Nigeria’s creative practitioners to the country’s cultural identity, global image and economic development, and crediting Jacobs with playing a big role in creating that identity, Tinubu extended his condolences specifically to the Jacobs family, including his wife, veteran actress Joke Silva, their children, relatives, colleagues in the Nigerian film industry and the wider creative community, and prayed for the repose of his soul.

What’s Next

Attention will likely turn to funeral and memorial arrangements for Jacobs, as well as tributes expected from other figures across Nollywood and the broader African entertainment industry in the coming days, His passing may also prompt renewed conversations within the industry about honouring and documenting the legacies of Nollywood’s pioneering generation, particularly figures like Jacobs who helped bridge international theatre training with the growth of Nigeria’s domestic film industry.

Bottom Line

Olu Jacobs’ death marks the loss of one of Nigeria’s most consequential creative figures, a man whose career helped legitimize and professionalize Nollywood on both a national and global stage, with President Tinubu’s tribute reflecting just how deeply his influence is tied to Nigeria’s broader cultural and economic identity.

Bolt sees 92% spike in driver registrations after uber exit

By Annette Ikponmwonba | September 16, 2026

Key Points

· Bolt recorded a 92 per cent week-on-week increase in driver registrations in Nigeria following Uber’s exit from the market

· Uber ended its Nigerian operations on September 2 after about 12 years, prompting drivers to seek alternative platforms

· Bolt did not disclose actual registration numbers before or after the spike, leaving the absolute scale unclear

· Bolt West Africa Senior General Manager Teddy Appa-Dankyi says onboarding and safety standards will remain unchanged despite the surge in interest

· Drivers previously suspended or blocked for safety violations or misconduct will not be automatically reinstated

· The development comes as Nigeria’s ride-hailing industry adjusts to Uber’s withdrawal amid high fuel and vehicle maintenance costs

Main Story

Bolt has recorded a 92 per cent week-on-week increase in driver registrations in Nigeria following Uber’s exit from the market, as drivers look for alternative platforms to continue earning. The Estonian mobility startup, which has operated in Nigeria since 2016, disclosed the figure in an email to PUNCH Online on Wednesday.

The surge follows Uber’s decision to end its Nigerian operations on September 2, after roughly 12 years in the country. The exit prompted both drivers and riders to consider other platforms, particularly amid rising operating costs and intensifying competition within the ride-hailing space.

Bolt did not disclose the actual number of registrations recorded before or after Uber’s departure, meaning the true scale of the increase in absolute terms remains unclear despite the reported percentage jump. Teddy Appa-Dankyi, Senior General Manager for Bolt West Africa, confirmed the spike directly, stating that Bolt has recorded a 92 per cent week-on-week increase in driver registrations following Uber’s exit from the Nigerian market.

The Issues

While the registration spike appears to be a clear win for Bolt, it also raises questions about how the company manages a sudden influx of driver interest without compromising platform quality or safety. Appa-Dankyi was notably careful to frame the growth as something that must be balanced against existing standards, signaling an awareness that rapid onboarding surges can sometimes come at the cost of proper vetting.

There is also a broader industry dynamic at play. Uber’s exit has effectively left a vacuum in Nigeria’s ride-hailing market, and the scramble among drivers to join alternative platforms reflects just how central these apps have become to driver livelihoods in a market already strained by high fuel prices and vehicle maintenance costs. How well Bolt and other remaining platforms absorb this shift could shape the competitive balance of Nigeria’s mobility sector going forward.

Another underlying issue is transparency around the actual numbers. Without disclosing baseline registration figures, it is difficult to independently assess whether this 92 per cent increase represents a modest uptick from a small base or a genuinely significant structural shift in driver behavior following Uber’s departure.

What’s Being Said

Appa-Dankyi framed the surge as a vote of confidence in Bolt’s platform, saying the company was encouraged by the strong increase in interest from drivers looking to join, and describing it as evidence of drivers’ confidence in the opportunities Bolt provides. He was equally firm, however, in stating that growth cannot come at the expense of safety.

He also addressed a specific concern around driver quality control, clarifying that drivers previously suspended or blocked for serious safety violations, misconduct or other breaches would not be automatically reinstated simply because of the increased demand for drivers. He reiterated that every driver joining Bolt must meet the company’s existing onboarding and safety requirements, stating plainly that those standards remain unchanged.

What’s Next

Bolt has indicated it will continue investing in its platform and driver community as Nigeria’s mobility market continues to evolve following Uber’s exit. How the company scales its onboarding infrastructure to handle sustained registration growth, without loosening safety checks, will likely be an important marker to watch in the coming weeks, More broadly, attention will likely turn to how other ride-hailing platforms operating in Nigeria respond to the shifting competitive landscape, and whether Uber’s exit triggers further consolidation or new entrants into the market as both drivers and riders settle into new platform preferences.

Bottom Line

Bolt is moving quickly to capitalize on the vacuum left by Uber’s exit, but the company’s emphasis on maintaining strict onboarding and safety standards suggests it is trying to balance rapid driver network growth against the reputational risk of relaxing vetting standards during a period of heightened demand.

Nigeria, spain move to deepen trade and investment ties

By Annette Ikponmwonba | September 16, 2026

Key Points

· Nigeria’s Ambassador to Spain, Okezie Ikpeazu, has called for revitalizing bilateral agreements with Spain, including the Bilateral Air Service Agreement

· He made the call after presenting his Letters of Credence to King Felipe VI at the Royal Palace in Madrid

· Ikpeazu conveyed President Tinubu’s greetings and reaffirmed Nigeria’s commitment to deepening ties in trade, energy, infrastructure, agriculture, education and other sectors

· He specifically pushed for direct air connectivity between Nigeria and Spain to boost trade, tourism and people-to-people exchange

· The ambassador called for broader stakeholder involvement, including the private sector, academia, and civil society, in strengthening the partnership

· He also acknowledged the Nigerian community in Spain as an important bridge for bilateral relations

Main Story

Nigeria’s Ambassador to Spain, Okezie Ikpeazu, has called for the revitalisation of existing bilateral agreements between both countries, including the Bilateral Air Service Agreement, as part of efforts to strengthen economic cooperation and people to people relations. He made the call after formally presenting his Letters of Credence to King Felipe VI of Spain at the Royal Palace in Madrid on Monday, an event that marked the official start of his diplomatic assignment.

During the ceremony, Ikpeazu conveyed greetings and best wishes from President Bola Tinubu to the Spanish monarch, government and people. He reaffirmed Nigeria’s commitment to strengthening bilateral relations across a wide range of sectors, including trade and investment, energy, infrastructure, agriculture, education, culture, tourism, security and people to people exchanges, He also expressed Nigeria’s readiness to work with Spanish government institutions and the private sector to create new economic partnership opportunities and increase trade and investment flows between the two nations.

The Issues

At the heart of Ikpeazu’s remarks is a call to modernize agreements that may no longer reflect the current state of Nigeria Spain relations. His specific emphasis on the Bilateral Air Service Agreement points to a practical bottleneck in bilateral engagement: the absence of robust direct air connectivity, which can limit trade flow, tourism growth and the ease of people to people exchange between the two countries, This kind of infrastructure gap often has outsized effects on bilateral economic relationships, since limited flight connectivity can raise costs and travel time for business delegations, investors and tourists alike, indirectly constraining the broader economic partnership Ikpeazu is trying to build.

The ambassador’s call for broader stakeholder participation, spanning public institutions, the private sector, academia, cultural organisations and civil society, also signals an awareness that government level diplomatic engagement alone may not be sufficient to translate goodwill into tangible economic outcomes.

What’s Being Said

Ikpeazu was direct in describing the scope of opportunity between the two nations, stating that the relations between the two countries offer significant opportunities for expanded cooperation, while advocating for wider stakeholder involvement in deepening the partnership, He also spoke warmly about the role of the Nigerian diaspora in Spain, describing the Nigerian community as an important bridge for promoting understanding, friendship and cooperation between the peoples of both countries. He reaffirmed the Nigerian Embassy’s commitment to protecting the interests of Nigerian nationals living in Spain.

At the reception held in his honour, attended by diplomatic corps members, Spanish government representatives, business and cultural stakeholders and members of the Nigerian community, Ikpeazu expressed appreciation for the warm welcome he received and pledged to advance Nigeria’s interests while working to consolidate relations between the two countries.

What’s Next

The ambassador indicated that the Nigerian Embassy in Madrid would continue working with the Spanish government, diplomatic community, private sector, development partners and the Nigerian community to convert existing goodwill into concrete, measurable outcomes, Whether the specific push to revitalize the Bilateral Air Service Agreement translates into actual renegotiation or new direct flight routes will likely be one of the clearer markers of progress to watch in the coming months, given how directly it was singled out during the ambassador’s remarks.

Bottom Line

Ikpeazu is using the ceremonial start of his ambassadorship to set a practical agenda for Nigeria Spain relations, framing improved air connectivity and modernized agreements as the groundwork needed to convert a longstanding but underutilized diplomatic relationship into deeper trade and investment outcomes.

Messi set for final Argentina appearance in farewell match vs Benin

Messsi

By Annette Ikponmwonba | September 16, 2026

Key Points

· Argentina has confirmed Lionel Messi will make his final national team appearance against Benin Republic on October 6, 2026

· The farewell match will be held at the Estadio Monumental in Buenos Aires

· AFA president Claudio Tapia said Messi accepted an invitation to receive a proper send off after deciding to retire from international football

· The AFA has also invited Argentina’s 2022 World Cup winning squad and their families to attend

· The match will be Messi’s 208th appearance for Argentina, adding to his record tally of 125 international goals

· Messi led Argentina to the 2021 Copa América, the 2022 World Cup and the 2024 Copa América

Main Story

Argentina have confirmed that football icon Lionel Messi will make his final appearance for the national team when they face the Benin Republic in a special friendly on October 6, 2026, at the Estadio Monumental in Buenos Aires. The Argentine Football Association said Messi accepted an invitation from president Claudio Tapia to receive a home farewell after deciding to retire from international football.

Tapia confirmed the decision was made in consultation with national team head coach Lionel Scaloni. “To all Argentina fans and Argentinians, I want to tell you that after a chat with the national team head coach, Lionel Scaloni, we have taken the decision to invite the best player in the world, emblem of our national team, our captain, Lionel Andres Messi, so he can have the farewell he truly deserves on October 6, here, in Argentina,” he said.

To mark the occasion, the AFA has also invited members of Argentina’s 2022 World Cup winning squad, along with their families, to attend the international friendly. The match will stand as Messi’s 208th appearance for Argentina, further extending his record tally of 125 international goals for the national team.

The Issues

Messi’s international retirement closes out one of the most decorated careers in football history, and the choice of a home farewell reflects how central he has become to Argentina’s football identity over nearly two decades. Organizing the send off as a friendly against Benin Republic, rather than a high profile rival, suggests the occasion is being treated less as a competitive fixture and more as a ceremonial tribute built around the moment itself.

The decision also raises questions about succession within the national team. Messi has been Argentina’s talismanic captain through multiple major tournament wins, and his departure leaves a significant leadership and creative void that Scaloni’s squad will need to address heading into future competitions without him.

What’s Being Said

Tapia’s comments framed the farewell match as a deserved tribute to Messi’s standing both within the national team and in global football, repeatedly emphasizing his role as captain and emblem of the Argentine side, The involvement of the 2022 World Cup winning squad and their families in the occasion underscores how tightly this farewell is being tied to that tournament win specifically, arguably the crowning achievement of Messi’s international career and a moment that cemented his legacy among Argentine fans.

What’s Next

Attention will now turn to the buildup surrounding the October 6 match itself, including how the AFA structures the ceremonial elements of the occasion and how Argentine fans and the wider football world respond to the farewell, Beyond the match, focus will likely shift to how Argentina’s national team moves forward without Messi, including how Scaloni reshapes the squad’s attacking structure and leadership for future tournaments.

Bottom Line

Messi’s farewell match closes the international chapter of a career that reshaped Argentine football, and the AFA’s decision to build the occasion around the 2022 World Cup winning squad reflects just how deeply that triumph is tied to how he’ll be remembered on the national stage.

I gave all my assets as collateral — Dangote on biggest business risk

By Annette Ikponmwonba | September 16, 2026

Key Points

· Aliko Dangote says he put up all his assets as collateral and gave a personal guarantee to secure the initial $3.7bn loan for the refinery and fertiliser projects

· He calls it the biggest risk of his nearly five decade business career

· The refinery eventually cost about $20bn to build, making it one of Africa’s largest private industrial investments

· Dangote says many African entrepreneurs remain “scared to death” of major industrial investment due to policy uncertainty

· He credits his willingness to take on risk to a personal drive to keep fighting daily

Main Story

Aliko Dangote has revealed that he pledged all of his personal assets as collateral, alongside a personal guarantee, to secure the initial $3.7 billion loan used to finance the Dangote Petroleum Refinery and fertiliser projects. He described the move as the biggest risk of his business career, speaking in an interview on Arise News.

Asked to identify the single biggest risk he had taken across nearly five decades as an entrepreneur, Dangote pointed immediately to the refinery and fertiliser investments. “The biggest decision was the risk of the refinery and fertiliser,” he said, He explained that financing the projects required him to put everything he had built at the time on the line. “We gave all our assets as collateral. And apart from that, I gave a personal guarantee,” he said.

The Issues

The scale of the financial exposure Dangote describes underscores just how uncertain the refinery project was at its outset. The initial $3.7 billion loan came at a point when the eventual size, cost and completion timeline of the project were still far from settled, and the refinery would go on to cost roughly $20 billion in total, making it one of the largest private industrial investments ever undertaken on the continent. Committing personal assets and a personal guarantee against a project of that magnitude represented an extraordinary level of individual financial risk, even for one of Africa’s wealthiest businessmen.

Dangote’s broader comments also point to a structural problem he sees across African entrepreneurship: a widespread reluctance among wealthy Africans to make comparable industrial bets. He attributed this hesitancy largely to policy uncertainty, a factor that can make long horizon, capital intensive projects like refineries or large scale manufacturing feel too risky to pursue, even for investors with substantial capital, This raises a broader question about how much of Africa’s industrial development potential remains constrained not by capital availability, but by a risk appetite shaped by inconsistent or unpredictable policy environments.

What’s Being Said

Dangote was candid about the personal toll and mindset required to take on risk at that scale, describing his willingness to fight for these investments as something that has become intrinsic to who he is. “I fight every day, morning, day and night. It has become part of me now. I enjoy fighting,” he said, When asked directly why more wealthy Africans were not taking similar risks, he offered a pointed, almost self deprecating response, suggesting that his own appetite for sustained conflict and risk is not typical. “Everybody is not Aliko, who wants to fight every day,” he said.

What’s Next

With the refinery now operational and the broader Dangote Petroleum Refinery and Petrochemicals IPO recently opened on the Nigerian Exchange, attention is likely to shift toward how the business performs commercially and whether it validates the scale of risk Dangote took on to build it, His comments about policy uncertainty discouraging African industrial investment may also continue to shape conversations among investors and policymakers about what structural changes could encourage more entrepreneurs to pursue similarly ambitious projects.

Bottom Line

Dangote is framing personal risk tolerance, not just capital, as the defining factor behind Africa’s biggest industrial success stories, suggesting that the continent’s next wave of large scale investment may depend less on available wealth and more on entrepreneurs willing to stake everything the way he did.

Petrol may hit ₦5,000/litre under Tinubu — SDP’s Adebayo

By Annette Ikponmwonba | September 16, 2026

Key Points

· SDP presidential candidate Adewole Adebayo warns petrol could rise to ₦5,000 per litre if President Bola Tinubu wins a second term

· He says the increase could be driven by continued downstream deregulation and the floating of the naira

· Adebayo argues Nigeria’s reliance on imported petrol exposes the country to forex volatility since the product is dollar priced

· He projects that if the exchange rate hits ₦3,500 to a dollar, landing cost alone could exceed ₦4,000 per litre

· He criticized the removal of fuel subsidies, saying it has left consumers exposed to global crude price swings

· Adebayo also cited high interest rates, port challenges and distribution costs as additional risk factors

Main Story

Adewole Adebayo, presidential candidate of the Social Democratic Party, has warned that petrol prices could climb to as much as ₦5,000 per litre if President Bola Tinubu secures a second term in office. The warning was issued in a statement from his campaign’s Chief Communications Adviser, Mark Adebayo, on Wednesday.

Adebayo tied the projected increase to two key factors, the Federal Government’s deregulation of the downstream petroleum sector and the continued floating of the naira. He argued that Nigeria’s heavy dependence on imported petrol leaves the country vulnerable to foreign exchange fluctuations, since the product is priced internationally in US dollars.

He laid out a specific scenario to back his projection, saying that if the exchange rate climbs to ₦3,500 to a dollar in the coming years, the landing cost of petrol alone could exceed ₦4,000 per litre before other charges are factored in. “A ₦5,000 fuel price is not a myth; it is basic mathematics based on the direction the Tinubu administration is walking,” he said.

The Issues

Adebayo’s warning taps into an ongoing national debate about the consequences of subsidy removal and naira floatation, two of the signature economic reforms of the Tinubu administration. Since these policies took effect, petrol prices have already climbed sharply from pre reform levels, and critics have repeatedly pointed to currency depreciation as a key driver of continued price pressure at the pump.

The core of Adebayo’s argument rests on Nigeria’s structural dependence on imported refined petroleum products, a vulnerability that ties domestic fuel prices directly to global crude markets and to the strength or weakness of the naira. Even with the emergence of domestic refining capacity from projects like the Dangote refinery, Nigeria’s broader downstream sector still faces exposure to these external pressures, particularly given ongoing global market uncertainty tied to instability in the Middle East.

There is also a political dimension to the timing of this warning. As an opposition presidential candidate, Adebayo’s projection functions as both an economic forecast and a campaign argument, positioning fuel price trajectory as a referendum on the direction of Tinubu’s economic policy ahead of the 2027 election.

What’s Being Said

Adebayo was sharply critical of the subsidy removal policy, arguing that it has left ordinary Nigerian consumers directly exposed to swings in global crude oil prices without the cushioning that subsidies previously provided, He also warned of downstream consequences beyond the pump, cautioning that any further increase in petrol prices could drive up transportation costs and subsequently push up prices for food and other essential goods, a chain reaction that has already played out to some degree since subsidy removal began, Beyond exchange rates and subsidies, Adebayo pointed to several compounding cost factors he says could worsen the situation further, including high interest rates, logistical challenges at Nigeria’s ports, and elevated distribution costs across the supply chain.

What’s Next

The trajectory of the naira against the dollar will likely remain the central variable to watch, given that Adebayo’s entire ₦5,000 projection is built around a specific exchange rate scenario. Whether the currency moves in that direction, stabilizes, or strengthens will significantly shape how credible this warning appears over time, It also remains to be seen how the Tinubu administration or APC officials will respond to the claim, and whether this becomes a recurring point of attack from opposition candidates as the 2027 campaign season develops further.

Bottom Line

Adebayo is using a specific mathematical projection tied to currency depreciation to turn petrol pricing into an early flashpoint of the 2027 campaign, betting that continued economic pressure on Nigerian consumers will make his warning resonate regardless of whether the exact ₦5,000 figure materializes.

Olu Jacobs: 10 things many people did not know about the Nigerian acting legend

The name Olu Jacobs is familiar to generations of Nigerians. For many younger viewers, he was the authoritative father, king, chief, politician, or elder whose voice could instantly change the mood of a Nollywood film.

But long before he became one of the most recognisable faces in Nigerian cinema, Oludotun Baiyewu Jacobs had already built a career on British stages and television.

Jacobs died on Wednesday, September 16, 2026, at the age of 84. His family confirmed his passing on Instagram and asked bloggers and social media users to respect their privacy. His death closes a career that stretched across theatre, television, international film, and Nigerian cinema.

Here are some things many people may not know about Olu Jacobs.

1. He Did Not Begin With Nollywood

It is easy to associate Olu Jacobs almost exclusively with Nollywood because of the enormous number of Nigerian films in which he appeared. But Nollywood came much later in his career.

Jacobs trained at the Royal Academy of Dramatic Art (RADA) in London, one of Britain’s best-known drama schools. From there, he developed a professional career in British theatre and television before returning to Nigeria. According to his Lufodo Group biography, his work included productions connected to the BBC, National Theatre, Royal Shakespeare Company, and major British film and television organisations. That means his acting career was already established internationally before the Nigerian film industry became the dominant part of his public identity.

2. His Father Did Not Want Him to Become an Actor

One of the more revealing stories about Jacobs’ early life was his struggle to convince his father to let him pursue acting. In an interview with Punch, Jacobs recalled that his father opposed his decision to travel to England and become an actor. He was his father’s favourite child, he said, but his father wanted him to choose another path.

Jacobs eventually went anyway. In another interview, he recalled buying his father’s favourite tobacco as a gesture of goodwill before pursuing his dream. For someone who would eventually become one of Nigeria’s most respected actors, his career began with a family disagreement over whether acting was a viable future.

3. He Worked Ordinary Jobs Before Establishing Himself in Britain

The story of Jacobs’ journey to Britain is not simply one of arriving at RADA and immediately becoming a star. He had to find his way into the profession. Jacobs recalled working as a quality control officer for a holiday company while trying to establish himself.

His breakthrough came through an audition connected to the BBC. He had accompanied a friend to an audition and eventually got an opportunity to audition himself. He recalled arriving late, but the timing worked in his favour because the person in charge had not yet arrived. He eventually got on the final list—a break that could easily have gone the other way.

4. He Featured on British Television Decades Before Nollywood

Jacobs’ British television credits included appearances in classic programmes such as The Goodies, Till Death Us Do Part, Barlow at Large, The Venturers, Angels, The Tomorrow People, The Bill, Dempsey and Makepeace, and The Professionals.

His work was not limited to television. He appeared in stage productions and international films, including Night and Day, a Tom Stoppard production that featured actors including Diana Rigg and John Thaw. Lufodo’s biography also records his involvement with productions connected to Walt Disney, Universal Pictures, MGM, the BBC, the National Theatre, and the Royal Shakespeare Company.

5. He Spent About Two Decades in Britain

Jacobs did not make a brief trip to Britain, train, and immediately return home. He spent about 20 years there building his career. That makes his eventual decision to return to Nigeria particularly significant.

When asked why he would leave Britain after establishing himself there, his response was revealing: he noted that he could not have grown beyond certain boundaries in England due to the “unwritten laws” restricting Black actors at the time. Returning to Nigeria gave him an opportunity to build something in an industry that was still developing.

6. His Return Was About More Than Acting

Jacobs eventually became much more than an actor. Together with his wife, Joke Silva, he built Lufodo, a company involved in production and the performing arts. The organisation developed into a wider creative business with interests including Lufodo Productions and the Lufodo Academy of Performing Arts.

The couple’s work in training young performers was particularly important because their involvement extended beyond appearing in films themselves. The Lufodo Academy was established to train performers and develop professional skills in acting and the performing arts, later partnering with platforms like Netflix to train Nigerian actors and writers.

7. He and Joke Silva Built a Creative Institution

The public knew Olu Jacobs and Joke Silva as one of Nigeria’s best-known acting couples. But their partnership was also professional. They co-founded Lufodo and worked together across production and performing arts. The Lufodo Group describes Jacobs as co-founder and chairman, while Silva’s profile identifies her as co-founder and co-CEO for artistic design and performing arts.

Their marriage also produced one of the more unusual details of their public story. Silva continued to use her professional maiden name, Joke Silva. Jacobs once explained that he saw no reason why marrying him should mean she stopped being Joke Silva, the actress audiences already knew.

8. Lufodo Took Over One of Lagos’ Oldest Theatre Spaces

In 2022, Lagos State handed the management of Glover Memorial Hall to Lufodo after the company won the concession process. That was significant because Glover Memorial Hall is not an ordinary event venue; the heritage building dates back to the colonial era, holds a long connection with Nigerian theatre and film culture, and hosted one of Nigeria’s earliest public film screenings. Lufodo’s involvement extended Jacobs and Silva’s work from making and teaching performance to managing a physical institution associated with Nigeria’s performing arts history.

9. He Had a Life in Theatre That Predates the Nollywood Era

Another part of Jacobs’ career that can disappear beneath the Nollywood label is his commitment to theatre. His professional background was rooted in stage performance. Before the explosion of Nigerian home videos and later Nollywood, theatre and television were the primary platforms through which Nigerian actors developed their craft. Jacobs was part of that older tradition, spanning about five decades across stage, film, and radio in both Britain and Nigeria.

10. Recognised Across Africa and Beyond

Jacobs’ career received widespread recognition:

  • 2007: Won the Africa Movie Academy Award (AMAA) for Best Actor in a Leading Role.
  • 2011: Conferred with the national honour of Member of the Order of the Federal Republic (MFR) by the Nigerian government.
  • 2013: Honoured with the Industry Merit Award at the Africa Magic Viewers’ Choice Awards (AMVCA). Punch Newspapers
  • 2016: Received the AMAA Lifetime Achievement Award alongside Joke Silva.

The Legacy Behind the Legend

Olu Jacobs’ career can be understood in three distinct chapters: the young man from Nigeria who pursued acting despite his father’s objections; the professionally trained performer who spent decades working across British theatre and television; and the Nigerian veteran who returned home to become an actor, producer, mentor, and institution builder.

His passing at 84 marks the end of an era for African cinema. The story of Olu Jacobs is not simply that of a famous actor who appeared in hundreds of films, but of a pioneer who mastered his craft abroad, returned home, and helped build the foundation of Nigeria’s performing arts industry.

Olu Jacobs dies at 84 after decades in Nigerian film

KEY POINTS

  • Veteran actor and film executive Olu Jacobs has died at 84.
  • His son, Olusoji Jacobs, announced his death on Wednesday.
  • Jacobs had a career spanning theatre, television and film.
  • He won the Africa Movie Academy Award for Best Actor in 2007 and received the MFR national honour in 2011.
  • He co founded the Lufodo Group and Lufodo Academy of Performing Arts with his wife, Joke Silva.

MAIN STORY

Veteran Nigerian actor and film executive, Oludotun Jacobs, popularly known as Olu Jacobs, has died at the age of 84.

His son, Olusoji Jacobs, announced his death in a statement posted on his Instagram page on Wednesday, describing him as a beloved husband, father, grandfather and uncle.

“It is with gratitude to God for a life well lived and fought, that we announce the passing of our dear husband, father, grandfather and uncle. The Lion of Lufodo.”

The family also appealed to bloggers and social media influencers to respect its privacy as it mourns the veteran actor.

Jacobs was born on July 11, 1942, and built a career across theatre, television and film, becoming one of the most recognisable figures in Nigeria’s acting industry.

He trained at the Royal Academy of Dramatic Art in London and appeared in several British television productions before returning to Nigeria, where he later became a prominent figure in Nollywood.

Over the course of his career, Jacobs featured in more than 100 films and earned several industry and national honours.

Among them was the Africa Movie Academy Award for Best Actor in a Leading Role, which he received in 2007. He was also conferred with the national honour of Member of the Order of the Federal Republic in 2011.

Beyond acting, Jacobs contributed to the development of Nigeria’s performing arts industry through the Lufodo Group and Lufodo Academy of Performing Arts, which he established with his wife, fellow veteran actress Joke Silva.

His death brings to a close a career that extended across several decades and left a significant mark on Nigerian theatre, television and film.

THE ISSUES

  1. Jacobs’ career reflected the development of Nigeria’s entertainment industry across theatre, television and film, with his work extending from British productions to the growth of Nollywood.
  2. His contribution went beyond screen appearances through his involvement in the Lufodo Group and Lufodo Academy of Performing Arts, which he founded with Joke Silva.
  3. His awards and national recognition reflected the breadth of his career, including the 2007 Africa Movie Academy Award and the 2011 MFR honour.

WHAT’S BEING SAID

“It is with gratitude to God for a life well lived and fought, that we announce the passing of our dear husband, father, grandfather and uncle. The Lion of Lufodo.” – Olusoji Jacobs

“We call on all bloggers and social media influencers to respect our family’s privacy at this time.” – Olusoji Jacobs

WHAT’S NEXT

The family has asked bloggers and social media influencers to respect its privacy following the announcement of Jacobs’ death.

BOTTOM LINE

Olu Jacobs leaves behind a decades long career spanning theatre, television and film, alongside contributions to Nigeria’s performing arts through the Lufodo Group and academy.

NBC marks 75 years in Nigeria as Coca Cola pledges investment

KEY POINTS

• Nigerian Bottling Company has marked 75 years of operations in Nigeria.

• Coca Cola HBC reaffirmed its plan to invest up to $1 billion in Nigeria over five years.

• The Coca Cola system contributed about $1 billion in economic value and supported more than 160,000 jobs in 2024.

MAIN STORY

Nigerian Bottling Company Ltd has marked 75 years of operations in Nigeria, with Coca Cola HBC reaffirming its commitment to invest up to $1 billion in the country over five years.

The anniversary was marked at a gala held at the Bola Ahmed Tinubu International Conference Centre in Abuja, with President Bola Ahmed Tinubu represented by the Secretary to the Government of the Federation, George Akume.

Delivering the President’s remarks, Akume congratulated NBC on the milestone and highlighted the importance of companies that invest in local production, develop Nigerian talent and strengthen domestic supply chains.

Since its first production run in Ebute Metta in 1951, NBC has expanded to eight plants, 11 depots and 52 commercial territories across Nigeria.

The company’s operations support activity across manufacturing, logistics, distribution, retail and other parts of the local supply chain.

A recent economic impact study by Steward Redqueen estimated that the Coca Cola system generated about $1 billion in value added economic activity across its Nigerian value chain in 2024.

The study also estimated that the system supported more than 160,000 jobs during the year. Nearly 3,000 were direct positions, while about 157,200 were linked to sectors including retail, agriculture, manufacturing, transport and services.

The Coca Cola system also sourced almost $601 million worth of goods and services from Nigerian suppliers during the year, according to the study.

Coca Cola HBC Chief Executive Officer Zoran Bogdanovic said the group was continuing to implement its 2024 commitment to invest up to $1 billion in Nigeria over five years.

He said the commitment was conditional on the availability of a predictable and enabling business environment.

Bogdanovic said investments were already under way to expand manufacturing capacity at the Asejire plant in Oyo State and Challawa plant in Kano State.

The expansion is expected to increase production capacity and create additional opportunities across the local manufacturing and supply chain.

As part of the anniversary activities, the Coca Cola HBC Foundation announced a $1.25 million commitment over three years to support young Nigerian entrepreneurs in the hospitality and food service sector.

The programme will provide business grants, entrepreneurship training, support for business formalisation and mentorship.

Separately, the Coca Cola Foundation committed another $1.25 million towards more sustainable water solutions for communities in Nigeria.

The company said the initiative would complement its wider social investment activities covering youth and women empowerment, access to clean water, environmental sustainability, waste collection and recycling.

THE ISSUES

  1. NBC’s expansion over 75 years illustrates the scale of the company’s manufacturing and distribution footprint in Nigeria, with operations now spread across eight plants, 11 depots and 52 commercial territories.
  2. The reported $1 billion in value added economic activity and more than 160,000 jobs show the wider economic activity linked to the Coca Cola system beyond its direct workforce.
  3. The planned investment of up to $1 billion over five years places manufacturing capacity and the domestic supply chain at the centre of Coca Cola HBC’s continued operations in Nigeria.
  4. The company’s investment plans are tied to the availability of a predictable and enabling business environment, making the operating environment an important consideration for future expansion.
  5. The separate $1.25 million commitments for young entrepreneurs and water solutions extend the company’s activities beyond manufacturing into enterprise development and community infrastructure.

WHAT’S BEING SAID

“Seventy-five years ago, Nigerian Bottling Company began a journey in Lagos. Tonight, we celebrate what that journey has produced. But more importantly, we look forward to what the next chapter can bring: more investment, stronger industries, better jobs, deeper local production and greater opportunities for Nigerians.” – George Akume, Secretary to the Government of the Federation

“Seventy-five years of Nigerian Bottling Company is 75 years of growing with Nigeria. We are proud of the role we have played in creating opportunities, developing people, supporting communities and strengthening local value chains.” – Goran Sladic, Managing Director, Nigerian Bottling Company

“This is a remarkable milestone for any company. For us, it represents far more than longevity. It reflects a shared history with Nigeria, a country where Coca Cola HBC’s story began, and a history of which we are very proud.” – Zoran Bogdanovic, Chief Executive Officer, Coca Cola HBC

WHAT’S NEXT

Coca Cola HBC said it would continue advancing its five year investment commitment, including manufacturing capacity expansion at its Asejire and Challawa plants. Its foundation will also implement the three year entrepreneurship programme for young Nigerians.

BOTTOM LINE

NBC’s 75th anniversary comes with renewed investment and social commitments from the Coca Cola system. The company’s next phase will centre on manufacturing expansion, local supply chains, youth enterprise support and water solutions.

UBA authorised to facilitate Dangote refinery IPO subscriptions

KEY POINTS

• UBA has been named an authorised financial institution for the Dangote refinery IPO.

• The offer comprises 4.1 billion shares priced at N525 each.

• Investors can subscribe for a minimum of 10 shares valued at N5,250.

MAIN STORY

United Bank for Africa Plc has been designated as one of the authorised financial institutions through which eligible investors can subscribe for shares in the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals FZE.

The public offer comprises 4.1 billion ordinary shares priced at N525 per share, with investors required to subscribe for at least 10 shares, valued at N5,250. Additional shares can be requested in line with the terms of the offer.

The IPO opened on September 14, 2026, and is scheduled to close on October 13, 2026, subject to the conditions contained in the offer documents.

UBA said its customers and other eligible investors can access the offer through the bank’s approved subscription channels.

Tosin Adewuyi, Executive Director Designate at UBA Group, said the bank’s participation would support wider access to the capital market.

“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market.”

Adewuyi said the offer gives eligible investors an opportunity to acquire an interest in a major Nigerian industrial business, while urging prospective subscribers to review the offer documents and understand the associated terms and risks.

Eligible investors can submit applications through UBA’s approved subscription channels. The bank also advised applicants to ensure that their personal and banking information, including Bank Verification Number details, is accurate and up to date.

UBA customers can access the offer through the bank’s designated channels, including its self service platform, subject to the applicable subscription process.

The bank said the IPO could broaden participation in ownership of the refinery by providing retail investors and other eligible participants with access to the public offer.

It urged individuals, professionals, entrepreneurs, business owners, institutional investors and other eligible investors interested in the offer to use approved channels when submitting applications.

UBA also warned investors to remain alert to fraudulent schemes and advised them to read the Prospectus and other offer documents carefully and seek professional advice where necessary.

The bank noted that investments in shares carry risks and that investment values can rise or fall. It also advised investors not to disclose sensitive banking information such as PINs, passwords or one time passwords, or transfer funds to personal accounts in connection with the IPO.

THE ISSUES

  1. UBA’s appointment as an authorised financial institution gives its eligible customers another formal channel through which to access the Dangote refinery public offer.
  2. The minimum subscription of 10 shares at N5,250 provides a defined entry point for investors seeking to participate in the offer, while additional subscriptions remain subject to the offer terms.
  3. The IPO creates an opportunity for retail and institutional investors to acquire shares in a major Nigerian industrial enterprise through the capital market.
  4. The investment carries market risk, making the offer documents important for investors assessing the terms, risks and suitability of the shares before subscribing.
  5. Using authorised subscription channels is also important as investors face the risk of fraudulent schemes seeking to exploit interest in the public offer.

WHAT’S BEING SAID

“We are pleased to be named as one of the approved financial institutions providing access to the Dangote Refinery public offer. At UBA, we remain committed to deepening financial inclusion and expanding opportunities for individuals and businesses to participate meaningfully in Nigeria’s capital market.” – Tosin Adewuyi, Executive Director Designate, UBA Group

WHAT’S NEXT

The offer will remain open until October 13, 2026, subject to the terms contained in the offer documents. Eligible investors seeking to participate are expected to submit their applications through approved channels before the closing date.

BOTTOM LINE

UBA has joined the authorised financial institutions facilitating subscriptions to the Dangote refinery IPO. The offer provides eligible investors with access to 4.1 billion shares at N525 each, subject to the stated terms and investment risks.

Nigeria’s inflation eases to 15.39% as price pressures moderate

KEY POINTS

• Headline inflation fell to 15.39 per cent in August from 15.43 per cent in July.

• Food inflation declined to 19.57 per cent year on year, while core inflation fell to 13.29 per cent.

• Month on month inflation slowed sharply, although rural price pressures increased during the month.

MAIN STORY

Nigeria’s headline inflation rate declined to 15.39 per cent in August 2026, extending the moderation in consumer price pressures to a third consecutive month, according to the latest Consumer Price Index report by the National Bureau of Statistics.

The August rate was 0.04 percentage points below the 15.43 per cent recorded in July and significantly lower than the 23.14 per cent reported in August 2025.

The pace of monthly price increases also slowed, with headline inflation falling to 0.71 per cent in August from 1.57 per cent in July.

Food inflation recorded a broader decline, falling to 19.57 per cent year on year from 25.30 per cent in August 2025. Its month on month rate also dropped to 1.02 per cent from 5.56 per cent in July.

The NBS attributed the movement in food prices to changes in the average prices of items including palm oil, carrots, pepper, onions, cassava flour, beef, yam flour, water yam, melon, fresh ginger, fresh fish, Irish potatoes, wheat grain, frozen chicken and turkey meat.

The average annual food inflation rate for the 12 months ending August 2026 stood at 15.70 per cent, down from 29.86 per cent recorded in the corresponding period of the previous year.

Core inflation, which excludes volatile agricultural products and energy, also moderated to 13.29 per cent year on year in August from 22.93 per cent a year earlier.

On a month on month basis, core inflation fell to negative 0.06 per cent from 0.15 per cent in July. Its 12 month average declined to 17.30 per cent from 26.15 per cent in August 2025.

Inflation movements differed between urban and rural areas during the month. Urban inflation stood at 15.88 per cent year on year, while its monthly rate fell to 0.28 per cent from 1.90 per cent in July.

Rural monthly inflation, however, rose to 1.79 per cent from 0.78 per cent, although the annual rate remained lower at 14.23 per cent.

The 12 month average rates also moderated, with urban inflation falling to 16.28 per cent and rural inflation to 16.02 per cent.

The continued decline in headline, food and core inflation comes ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting scheduled for next week.

THE ISSUES

  1. The latest figures indicate that the annual pace of price increases has continued to slow, with headline inflation now 7.75 percentage points below its August 2025 level.
  2. Food remains a major component of household spending, making the decline in food inflation particularly relevant to consumers. The sharp slowdown in monthly food inflation also indicates that food prices increased at a slower pace during August.
  3. Regional price movements were uneven. While urban monthly inflation slowed substantially, rural inflation accelerated, showing that the moderation in overall prices was not uniform across locations.
  4. Core inflation also declined significantly, suggesting that the moderation extended beyond food and other volatile components to underlying price pressures.
  5. The figures provide the CBN with evidence of easing inflation ahead of its next policy meeting, although the small monthly decline in headline inflation leaves room for continued caution in assessing the direction of monetary policy.

WHAT’S BEING SAID

No direct stakeholder quotes were provided in the source material.

WHAT’S NEXT

The CBN’s Monetary Policy Committee is scheduled to meet next week, with the latest inflation figures forming part of the economic conditions available for consideration.

BOTTOM LINE

Nigeria’s headline inflation fell to 15.39 per cent in August, extending the decline for a third consecutive month. Food and core inflation also moderated, although rural monthly inflation moved in the opposite direction.

International Breweries sets Sept. 23 for N84bn capital return

International Breweries

KEY POINTS

• International Breweries will pay N84 billion to qualifying shareholders on September 23, 2026.

• The distribution amounts to N0.50 per share and will be funded from the company’s share premium account.

• Shareholders must be on the register by September 16 to qualify for the payment.

MAIN STORY

International Breweries Plc has fixed September 23, 2026, for the payment of N84 billion to shareholders under its approved Return of Capital scheme.

The distribution will be made at N0.50 per share on a pro rata cash basis to shareholders who meet the qualification requirements.

The company said September 16, 2026, has been set as the Qualification Date. Only shareholders whose names appear on its Register of Members at the close of business on that date will be entitled to the payment.

The register will close on September 17 as the company finalises the list of eligible shareholders ahead of the September 23 settlement date.

The N84 billion distribution will be funded from International Breweries’ share premium account rather than its current earnings.

The Return of Capital received regulatory approval from the Securities and Exchange Commission and shareholder approval at the company’s Annual General Meeting held on July 30, 2026. The distribution subsequently received the sanction of the Federal High Court.

The payment represents a transfer of part of the capital held by the company to its shareholders, making it different from a conventional dividend paid from earnings.

THE ISSUES

  1. The N84 billion payment puts cash directly in the hands of shareholders but also reduces the capital retained within International Breweries by the amount distributed.
  2. Because the distribution is being made from the share premium account, investors should distinguish it from recurring dividend income generated from the company’s earnings.
  3. The N0.50 per share payment is a one off capital distribution and does not by itself establish a recurring income stream for shareholders.
  4. Following the distribution, attention will shift to the company’s remaining capital base and its ability to generate earnings and cash flow while meeting its wider funding requirements.
  5. Investors seeking to receive the payment must meet the stated qualification requirement, with September 16 serving as the date for determining eligible shareholders.

WHAT’S NEXT

International Breweries will close its register on September 17 after determining qualifying shareholders and proceed with the N84 billion payment on September 23.

BOTTOM LINE

International Breweries is returning N84 billion of capital to qualifying shareholders at N0.50 per share. The distribution provides an immediate cash return while reducing the capital retained by the business.

Global nuclear power capacity may triple by 2060, IAEA says

KEY POINTS

• Global nuclear power capacity could more than triple by 2060, according to the IAEA.

• Rising electricity demand and energy security concerns are driving renewed interest in nuclear power.

• The agency says expansion must be matched by stronger safety measures, safeguards and international cooperation.

MAIN STORY

Global nuclear power capacity could more than triple by 2060 as countries seek reliable electricity supplies to meet rising demand and strengthen energy security, the International Atomic Energy Agency has said.

IAEA Director General Rafael Grossi disclosed this at the agency’s 70th General Conference in Vienna, where he highlighted the expanding role of nuclear energy in efforts to build more secure and reliable power systems.

Grossi said the renewed interest in nuclear power was extending beyond conventional electricity generation, with emerging industries such as artificial intelligence data centres creating additional demand for dependable energy.

He said the rapid expansion of AI could create new opportunities for nuclear power as countries look for stable electricity supplies capable of supporting large scale digital infrastructure.

The IAEA chief also identified maritime shipping as another potential area for nuclear energy applications. The sector transports about 80 per cent of global trade.

Grossi said interest in the peaceful use of nuclear technology was growing, particularly among developing countries that see nuclear energy as part of their economic development plans.

The agency, he said, was supporting these countries through training, capacity building and technology transfer to expand access to nuclear science and technology.

“Many developing countries consider nuclear energy an essential element of their economic development,” Grossi said.

He stressed the importance of creating equal opportunities for countries to benefit from advances in nuclear technology.

The agency’s work also extends beyond energy, with nuclear science being applied in areas including cancer treatment, the management of zoonotic diseases and environmental protection.

Grossi, however, said wider adoption of nuclear energy would require strong international cooperation, safety standards and effective safeguards.

He said the IAEA remained engaged in efforts to prevent a nuclear accident at the Zaporizhzhia nuclear power plant in Ukraine, while noting that Iran’s nuclear programme continued to require cooperation and verification to provide assurances about its peaceful nature.

UN Secretary General Antonio Guterres, represented at the conference by Monica Juma, Director General of the United Nations Office at Vienna, said the world was approaching a major transformation in nuclear power generation.

Guterres said the anticipated growth of nuclear power would require close monitoring, particularly as attacks on nuclear facilities and concerns about nuclear proliferation continue.

He urged member states to strengthen support for the IAEA and provide predictable funding for its Technical Cooperation Fund, which helps developing countries access nuclear science and technology.

The IAEA General Conference brings together member states and thousands of participants to discuss nuclear energy, safety, security and peaceful applications of nuclear technology. About 4,000 participants are expected at this year’s week long conference.

THE ISSUES

  1. The projected expansion of nuclear power reflects growing pressure on countries to secure dependable electricity supplies as overall demand rises and new energy intensive sectors emerge.
  2. The growth of artificial intelligence data centres could create another source of demand for reliable electricity, potentially widening the role of nuclear power beyond traditional energy needs.
  3. Developing countries are seeking greater access to nuclear science and technology, placing emphasis on training, technical capacity and technology transfer alongside access to nuclear power.
  4. Expanding nuclear capacity also increases the importance of safety and safeguards, particularly in an environment where nuclear facilities can be exposed to conflict and where proliferation concerns remain.
  5. Nuclear technology has applications beyond electricity generation, including healthcare, disease control and environmental protection, giving its expansion broader development implications.

WHAT’S BEING SAID

“Many developing countries consider nuclear energy an essential element of their economic development.” – Rafael Grossi, Director General, IAEA

“On the cusp of a revolution in nuclear power generation.” – Antonio Guterres, UN Secretary General

WHAT’S NEXT

The IAEA will continue supporting countries seeking to expand peaceful nuclear applications through technical cooperation, training and technology transfer, while maintaining its work on nuclear safety, security and safeguards.

BOTTOM LINE

The IAEA expects global nuclear power capacity to more than triple by 2060 as electricity demand and energy security concerns drive renewed investment. The projected expansion will require corresponding attention to safety, safeguards, international cooperation and access for developing countries.

Ukraine offers to halt energy strikes if Russia does same

Ukraine Crisis: First Batch Of Evacuees To Arrive In Nigeria

KEY POINTS

• Ukraine says it is ready to stop attacks on energy infrastructure if Russia does the same.

• Zelensky said a mutual halt could provide an initial step towards de escalation.

• The Kremlin welcomed Trump’s call for both sides to stop targeting energy facilities.

MAIN STORY

Ukraine has offered to suspend attacks on Russia’s energy infrastructure if Moscow agrees to halt similar strikes, following a call by United States President Donald Trump for both sides to stop targeting energy facilities.

Ukrainian President Volodymyr Zelensky said a reciprocal suspension could help lower tensions and create an opening for wider efforts to end the war.

Zelensky said Kyiv had asked international partners to help establish an agreement with Russia to protect critical infrastructure from further attacks.

“If our partners are ready to ensure that Russia genuinely refrains from striking our electricity system, other energy facilities, critical infrastructure, and food supply routes, then, of course, we are ready to ensure a corresponding halt to our strikes,” Zelensky said on X.

He described an agreement to stop attacks on critical infrastructure as a possible starting point for de escalation and eventual peace negotiations.

Trump had earlier said on Monday that Ukraine and Russia had agreed not to attack energy facilities. In a post on Truth Social, he said Kyiv had agreed to refrain from targeting Russian energy infrastructure and that Moscow had made a similar commitment.

The Kremlin welcomed the proposal. Kremlin spokesman Dmitry Peskov said a call for Ukraine to stop attacks on civilian economic infrastructure was a development Moscow welcomed.

Peskov also called on countries that have influence over Kyiv to encourage greater flexibility, arguing that this could support efforts to resolve the conflict.

Despite the statements, military activity has continued, with both sides reporting new attacks.

The Russian Defence Ministry said its forces struck railway infrastructure in western Ukraine and logistics facilities supporting Ukrainian forces.

Zelensky, meanwhile, said Ukrainian forces had attacked a naval base in Novorossiysk in Russia’s southern Krasnodar Territory. He said the strikes hit an oil loading terminal, military facilities and warships equipped with Kalibr missiles.

The conflict is also continuing to put pressure on Russia’s domestic economy, with the Russian government recently imposing a temporary ban on exports of gasoline, diesel, marine fuel and gas oil as part of efforts to stabilise the domestic fuel market.

THE ISSUES

  1. A reciprocal suspension of attacks on energy and other critical infrastructure could reduce damage to facilities that are important to civilian and economic activity, but the proposal depends on both sides implementing the arrangement.
  2. Trump’s intervention has introduced another diplomatic push aimed at limiting attacks on energy infrastructure, with both Kyiv and Moscow publicly responding to the proposal.
  3. Continued military strikes reported by both sides show that calls for restraint have not ended hostilities across the wider conflict.
  4. Russia’s temporary fuel export restrictions indicate that the war continues to have domestic economic consequences beyond the battlefield.

WHAT’S BEING SAID

“If our partners are ready to ensure that Russia genuinely refrains from striking our electricity system, other energy facilities, critical infrastructure, and food supply routes, then, of course, we are ready to ensure a corresponding halt to our strikes.” – Volodymyr Zelensky, President of Ukraine

“Welcomed.” – Dmitry Peskov, Kremlin spokesman, on calls for Kyiv to stop attacks on civilian economic infrastructure

WHAT’S NEXT

Ukraine says it is seeking support from international partners to establish an agreement with Russia protecting critical infrastructure. The response from Moscow and whether reported commitments translate into a sustained halt to such attacks will determine the next stage of the proposal.

BOTTOM LINE

Ukraine has linked a halt to its attacks on Russian energy infrastructure to a reciprocal move by Moscow. The proposal follows Trump’s call for both sides to suspend such strikes, although military activity continues.

Okonjo Iweala urges Niger Delta states to establish SEZs

KEY POINTS

• WTO Director General Ngozi Okonjo Iweala wants Niger Delta states to establish Special Economic Zones.

• She said better infrastructure, project execution and lower trade costs are needed to attract investment.

• NDDC said it had released an initial N5 billion facility to support businesses across the region.

MAIN STORY

World Trade Organisation Director General Ngozi Okonjo Iweala has urged Niger Delta states to establish Special Economic Zones as part of efforts to attract investment and accelerate industrial development in the region.

She made the call virtually on Tuesday at the Niger Delta Economic and Investment Summit in Port Harcourt, organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture under the theme, ‘Driving Investment, Innovation and Industrial Growth in the Niger Delta’.

Okonjo Iweala said the Niger Delta had the resources and strategic advantages to emerge as Nigeria’s next major industrial hub alongside Lagos, but warned that natural resources alone could not deliver development without effective policies and infrastructure.

She said the region needed stronger project execution, better maintenance, more efficient ports and improved digital infrastructure, while reducing the cost of trade.

The WTO chief also raised concerns about the region’s development indicators, citing high poverty levels, declining economic growth and falling life expectancy.

She said improving these conditions would be critical to restoring investor confidence and urged the regional business community to take a more active role in attracting investment.

Okonjo Iweala said the Niger Delta should position itself as a major trade hub by using its natural resources and strategic economic position to build a more productive economy.

Also speaking, the Managing Director of the Niger Delta Development Commission, Samuel Ogbuku, said the commission was committed to supporting small and medium sized businesses.

Ogbuku said the NDDC had provided an initial N5 billion seed fund through NDCCITMA to support enterprise development across the region.

He said the commission’s previous interventions in small businesses, particularly agribusinesses, had not produced the desired visible impact, but expressed hope that its collaboration with the chamber would improve outcomes.

The NDDC chief also called for stronger cooperation among the nine Niger Delta states and proposed a regional think tank to generate and coordinate development ideas.

He said joint action could allow the states to develop infrastructure such as power stations, rail lines and regional roads, creating stronger economic links across the region.

Ogbuku also expressed concern about capital leaving the region despite the presence of international companies benefiting from its resources.

The summit’s keynote speaker, Aigboje Aig Imoukhuede, urged leaders and business elites in the region to develop a clear strategy for economic transformation rather than focusing on past challenges.

“We need to move from a rent economy to a regional and productive economy,” he said.

Imoukhuede said the Niger Delta could become an economic powerhouse in Africa if its resources were backed by deliberate planning and execution.

NDCCITMA Board Chairman Idaere Ogan said more than 4,000 beneficiaries across the nine Niger Delta states had received support from the N5 billion NDDC facility within 18 months.

He called on state governors and chambers of commerce to coordinate priority investment opportunities and pursue a common economic agenda for the region.

THE ISSUES

  1. The proposed Special Economic Zones could provide a framework for concentrating infrastructure, business incentives and investment activity in strategic areas of the Niger Delta.
  2. Infrastructure remains central to the region’s ability to attract and retain investors, with ports, power, roads, rail and digital connectivity identified as areas requiring attention.
  3. Greater cooperation among the nine states could allow infrastructure and economic projects with regional benefits to be developed jointly rather than through isolated state initiatives.
  4. The N5 billion enterprise facility places attention on access to finance for businesses, while the reported number of beneficiaries highlights the scale of demand for business support across the region.
  5. The call to move from a rent based economy to a productive regional economy reflects the summit’s broader focus on using the Niger Delta’s resources to generate wider business opportunities and economic participation.

WHAT’S BEING SAID

“Doing the right things will renew investors’ confidence in the region. NDCCITMA should take the lead in attracting investors to the region.” – Ngozi Okonjo Iweala, Director General, WTO

“We need to move from a rent economy to a regional and productive economy.” – Aigboje Aig Imoukhuede, keynote speaker

“No single state or institution can unlock the region’s full potential in isolation.” – Idaere Ogan, Board Chairman, NDCCITMA

WHAT’S NEXT

Niger Delta states, business chambers and the NDDC are expected to deepen collaboration around investment opportunities, enterprise support and regional infrastructure, while the proposed think tank could provide a platform for coordinating development ideas.

BOTTOM LINE

The summit placed infrastructure, investment coordination and enterprise development at the centre of efforts to reposition the Niger Delta economy. Okonjo Iweala’s proposed Special Economic Zones would add another mechanism for attracting investment and industrial activity to the region.

NGX gains N652bn as equities extend bullish run

KEY POINTS

• Market capitalisation rose N652 billion to N158.399 trillion.

• All Share Index gained 0.41 per cent to 244,304.51 points.

• NGX Group and Aradel Holdings led the gainers, while Ecobank Transnational Incorporated topped the decliners.

MAIN STORY

Nigeria’s equities market added N652 billion on Tuesday as renewed buying interest lifted the value of listed stocks and extended the market’s recent positive run.

Market capitalisation increased from N157.747 trillion at the opening to N158.399 trillion at the close, representing a 0.41 per cent gain.

The All Share Index also advanced by 1,005.27 points to 244,304.51 points, compared with 243,299.24 points recorded at the previous session.

The latest increase pushed the market’s Year to Date return to 56.99 per cent, reflecting continued gains in the domestic equities market.

Trading closed with positive breadth as 34 stocks appreciated against 26 decliners.

NGX Group recorded the strongest gain, rising 9.95 per cent to N179 per share. Aradel Holdings followed with a 9.62 per cent increase to N1,550, while Sovereign Trust Insurance gained 9.50 per cent to N1.96.

Mc Nicholas rose 9.09 per cent to N4.80, while International Breweries advanced 8.50 per cent to N10.85.

Ecobank Transnational Incorporated recorded the biggest decline, falling 10 per cent to N66.60 per share.

Trans Nationwide Express declined 9.93 per cent to N2.45, while AVA Capital lost 9.90 per cent to N4.55. PZ Cussons dropped 9.52 per cent to N75.10, while Prestige Assurance fell 8.72 per cent to N1.36.

Trading activity also increased during the session, with 505.12 million shares exchanged in 71,635 transactions.

The shares were valued at N36.29 billion, pointing to stronger activity across the market compared with the preceding session.

Mutual Benefits accounted for the largest volume, with 39.01 million shares, representing 7.49 per cent of total turnover.

Aradel Holdings recorded the highest value of transactions at N6.35 billion, accounting for 17.09 per cent of the day’s total.

THE ISSUES

  1. The market’s continued advance has lifted its Year to Date return to 56.99 per cent, showing that the positive trend has persisted despite losses in several listed stocks.
  2. The positive market breadth indicates that gains were spread across more equities than the number that declined during Tuesday’s session.
  3. Higher trading volume, transaction value and number of deals point to increased activity among market participants during the session.
  4. The sharp movements among both gainers and decliners show that individual stock performance remained uneven even as the broader market closed higher.

WHAT’S NEXT

The market’s next session will show whether the current upward momentum is sustained and whether buying interest continues across listed equities.

BOTTOM LINE

The equities market added N652 billion on Tuesday as the All Share Index rose 0.41 per cent. Increased trading activity accompanied the gain, although several stocks recorded significant declines.