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REA, NCC plan rural power and telecom pilot projects

By
Kehinde Victor
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KEY POINTS

  • The Rural Electrification Agency (REA) and the Nigerian Communications Commission (NCC) are planning pilot projects to power rural telecom base stations with electricity from mini-grids.
  • More than 11,000 rural base stations reportedly rely on power sources associated with significant diesel consumption, with the telecom sector estimated to use over 40 million litres of diesel annually.
  • The REA says its $750 million DARES programme targets 1,350 mini-grids and aims to provide new electricity access to 17.5 million Nigerians.

MAIN STORY

The Rural Electrification Agency (REA) and the Nigerian Communications Commission (NCC) are planning joint pilot projects to integrate rural electricity infrastructure with telecommunications networks, in a move aimed at reducing diesel costs and improving connectivity in underserved communities.

REA Managing Director, Dr Abba Aliyu, represented by the agency’s Executive Director, Technical, Umar A. Umar, disclosed this at the second Rural Connect 2.0 Summit in Lagos on Tuesday.

Aliyu said the agencies had established a joint committee to identify locations where rural mini-grids could supply electricity to mobile network operators’ base stations.

He said the REA and NCC signed a memorandum of understanding in July 2026 to strengthen cooperation on rural electrification and telecommunications infrastructure.

According to Aliyu, three subcommittees have assessed potential business models, funding options, technical standards and capacity-building requirements for the proposed initiative.

“The next phase would involve joint physical audits of shortlisted sites, engagement with telecom operators and mini-grid developers, and validation of the proposed business models using operational data,” he said.

Aliyu put Nigeria’s household electrification rate at approximately 60 per cent and said more than 11,000 rural base stations relied on power sources that contributed to substantial diesel consumption.

“The telecom sector was estimated to consume more than 40 million litres of diesel annually to power many rural base stations,” he said.

Integrating telecom infrastructure with renewable energy systems could lower operating expenses for network operators while improving electricity reliability and expanding digital access, he added.

The REA representative also outlined the agency’s existing efforts to extend electricity access through mini-grids and solar home systems.

He said the Nigeria Electrification Project had supported 380 grant agreements with developers, leading to the commissioning of more than 150 hybrid solar mini-grids and the deployment of approximately 1.45 million solar home systems.

Aliyu further highlighted the $750 million Distributed Access through Renewable Energy Scale-up (DARES) programme, which targets 1,350 mini-grids, including 250 interconnected systems. The programme is expected to provide new electricity access to approximately 17.5 million Nigerians.

He said the National Electricity Strategy and Implementation Plan targets universal electricity access by 2030, requiring an estimated $23 billion investment to connect 22 million households.

Earlier, Tony Emoekpere, president of the Association of Telecommunications Companies of Nigeria (ATCON), urged stakeholders to measure rural connectivity by actual usage and benefits to communities rather than network coverage alone.

Emoekpere said connecting schools, primary healthcare centres, local governments and agricultural cooperatives to shared networks could create a more sustainable revenue base for rural telecommunications infrastructure.

He called for connectivity planning to be incorporated into mini-grid projects from the outset, arguing that shared infrastructure could reduce costs and widen access to electricity and digital services.

He also urged greater support for local internet service providers and community-based operators, saying they were better positioned to understand the needs of underserved populations.

Emoekpere added that governments and development partners needed to support rural connectivity because private investors might be reluctant to serve communities with limited commercial returns.

In his welcome address, Omobayo Azeez, convener of the summit, described rural connectivity as important to economic opportunities, education, healthcare, financial inclusion, agriculture and public services.

Azeez said the summit sought to strengthen partnerships between government and industry to connect Nigeria’s next 25 million internet users.

The second edition of Rural Connect 2.0, organised by Business Metrics, was held under the theme, “Rural Connectivity at Scale”.

THE ISSUES

Electricity and telecommunications infrastructure face related challenges in rural Nigeria. Unreliable power increases the cost of operating mobile base stations, while limited connectivity restricts access to digital services for households, businesses and public institutions.

The proposed pilot projects seek to address both problems by allowing mini-grids to supply electricity to telecom infrastructure. If the model proves commercially viable, it could reduce operators’ dependence on diesel generators and provide mini-grid developers with additional customers to support their businesses.

However, the projects’ impact will depend on the cost of supplying power, the reliability of the mini-grids, agreements with telecom operators and the ability of the model to generate sufficient revenue. The planned site audits and business-model assessments will help determine whether the approach can be replicated across more communities.

The wider economic opportunity extends beyond mobile network coverage. Reliable electricity and connectivity can support digital payments, agricultural information, remote learning, healthcare services and small businesses. But these benefits will depend on whether residents and local institutions can afford and use the services provided.

WHAT’S BEING SAID

  • “The next phase would involve joint physical audits of shortlisted sites, engagement with telecom operators and mini-grid developers, and validation of the proposed business models using operational data.” – Abba Aliyu, REA Managing Director, as represented at the summit
  • “The telecom sector was estimated to consume more than 40 million litres of diesel annually to power many rural base stations.” – Abba Aliyu, REA Managing Director, as represented at the summit

WHAT’S NEXT

The immediate next steps are joint physical audits of shortlisted locations, consultations with telecom operators and mini-grid developers, and validation of proposed commercial models using operational data.

The findings should establish which locations are suitable for the pilot projects, how electricity supply will be priced and funded, and what technical arrangements are needed to keep base stations running reliably.

The results will also indicate whether the approach can be expanded to other underserved communities and incorporated into future rural electrification projects.

BOTTOM LINE

The REA and NCC are seeking to turn rural mini-grids into a source of power for telecommunications infrastructure, potentially lowering diesel expenses while improving digital access. The key test will be whether the proposed model can deliver reliable electricity at a cost that works for both mini-grid developers and telecom operators.

IMF warns global public debt will reach 100% of GDP by 2029

UNDP warns 800 million young people could miss out on jobs

By
Kehinde Victor
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KEY POINTS

  • The UN Development Programme (UNDP) says 800 million young people entering the labour market in developing economies over the next 15 years could be left without jobs.
  • The agency has launched two initiatives to help countries attract investment, identify job-creating sectors and address barriers to employment.
  • UNDP also warns that rising energy costs, climate-related pressures and expensive borrowing are worsening economic conditions in developing countries.

MAIN STORY

The United Nations Development Programme (UNDP) has warned that about 800 million young people entering the labour market in developing economies over the next 15 years could struggle to find jobs unless governments take deliberate action to expand employment opportunities.

UNDP Administrator Alexander De Croo gave the warning on Tuesday while announcing two initiatives designed to attract investment and strengthen job creation.

Speaking at a press briefing in New York from Bangkok, where he is attending the World Bank Group and International Monetary Fund Annual Meetings, De Croo said projections showed that 1.2 billion young people in developing countries would reach the labour market over the next 15 years, but only about 400 million jobs would be available.

“If you look at the next 15 years, there will be 1.2 billion young people graduating from school, going into the labour market,” De Croo said.

“Unfortunately, for only 400 million of these, there will be jobs. For 800 million of these, there will not be jobs.”

He attributed the projected shortfall partly to demographic pressures, noting that the median age in many developing countries is between 18 and 25. He said the estimates were based on current technological conditions and argued that policy decisions would determine whether countries could improve the employment outlook.

“That is not going to go by itself. This is the result of policy,” he said.

The UNDP’s two initiatives are the Investment Accelerator and the Jobs for Prosperity Facility.

The Investment Accelerator will support governments in improving investment policies and legal frameworks, developing pipelines of investment-ready projects and moving those projects from preparation to implementation.

The Jobs for Prosperity Facility will help countries identify sectors with strong employment potential, align workforce skills with employers’ needs and remove barriers that discourage businesses from investing and hiring.

Responding to a question about artificial intelligence, De Croo said employment projections could change if governments adopted active labour policies. He identified care services, agriculture and tourism as sectors expected to continue generating jobs despite the growing use of AI.

“Job creation is actually the only real sustainable way for people to grow out of poverty,” he said.

The initiatives are backed by expanded partnerships with the World Bank Group, the European Investment Bank and the European Bank for Reconstruction and Development. Pilot programmes are already underway in Nepal, Yemen, Haiti, Lebanon and Ghana.

The announcement comes as developing economies contend with what De Croo described as a triple shock: high energy costs, one of the most pronounced El Niño events since 1950 and very high borrowing costs.

A new UNDP report, No Time to Recover, says the median developing country now spends 9.5 per cent of total government income on interest payments alone.

The report also highlights a reversal in multidimensional poverty, which measures deprivation beyond income to include access to electricity, water, healthcare and education. For the first time since 2010, the number of people living in multidimensional poverty has increased.

“Those numbers should absolutely be a wake-up call to all of us,” De Croo said.

He added that the global economy had proved more resilient than expected, but the recovery remained uneven, with some countries better equipped than others to withstand further economic shocks.

THE ISSUES

The projected jobs gap presents a challenge for governments seeking to turn a growing young population into an economic advantage. Without sufficient employment opportunities, young people may struggle to earn stable incomes, while businesses may face weaker consumer demand and countries may find it harder to reduce poverty.

The problem extends beyond the number of jobs available. Businesses also need investment, supportive regulations and access to workers with relevant skills. The UNDP’s initiatives seek to address these constraints by connecting investment planning with sectors capable of generating employment.

High interest payments create another obstacle. When governments spend a large share of their revenue servicing debt, they have less fiscal room to fund infrastructure, education, healthcare and other services that support productivity and employment.

For developing countries, including Nigeria, the challenge is to attract productive investment and expand employment while managing borrowing costs and other economic pressures. However, the UNDP’s global projections do not establish how many of the 800 million young people without projected jobs will be in Nigeria.

WHAT’S BEING SAID

  • “That is not going to go by itself. This is the result of policy.” – Alexander De Croo, UNDP Administrator
  • “Job creation is actually the only real sustainable way for people to grow out of poverty.” – Alexander De Croo, UNDP Administrator
  • “Those numbers should absolutely be a wake-up call to all of us.” – Alexander De Croo, UNDP Administrator

WHAT’S NEXT

The effectiveness of the Investment Accelerator and the Jobs for Prosperity Facility will depend on whether participating governments can translate policy changes and investment pipelines into operational projects and sustained hiring.

The pilot initiatives in Nepal, Yemen, Haiti, Lebanon and Ghana will provide an early test of the programmes’ ability to improve investment conditions and connect economic activity with employment. Their implementation and results will be important indicators of whether the initiatives can help narrow the projected jobs gap.

BOTTOM LINE

The UNDP’s warning is that demographic growth alone will not create economic opportunity. Governments must attract investment, address barriers to business expansion and develop sectors that can employ young people at scale, or millions entering the labour market could face a future without adequate work.

Okereke urges Nigerians to hold elected leaders accountable ahead of 2027 elections

World Bank targets MSME financing gap with digital strategy

By
Kehinde Victor
-

KEY POINTS

  • The World Bank Group is promoting digital technology and data-based solutions to expand financing for small businesses in developing economies.
  • MSMEs account for nine in 10 businesses and three-quarters of workers in developing economies, according to the Bank.
  • About 1.2 billion young people are expected to reach working age in developing countries over the next 10 to 15 years, while only around 420 million jobs are projected.
  • The World Bank says MSMEs face an annual financing gap exceeding $4 trillion.
  • Ajay Banga says better payment systems, business data and risk-sharing arrangements can help lenders serve businesses excluded by traditional lending models.

MAIN STORY

The World Bank Group is seeking to expand access to finance for micro, small and medium enterprises (MSMEs) in developing economies through digital technology, improved business data and stronger connections between small businesses and financial institutions.

World Bank Group President Ajay Banga outlined the approach at the Bank’s MSME Finance: Leveraging Data for Jobs event in Bangkok, Thailand, on Tuesday, October 13, during the institution’s Annual Meetings.

The initiative aims to make small businesses more visible to lenders, connect them to markets and services, strengthen their capacity to grow and improve their access to funding.

According to the World Bank Group, MSMEs account for nine in 10 businesses and three-quarters of workers in developing economies. The institution considers their ability to expand and employ more people important to addressing a growing jobs challenge.

The Bank estimates that 1.2 billion people in developing countries will reach working age over the next 10 to 15 years, while only around 420 million jobs are projected to be created during that period.

Banga identified energy and infrastructure, agribusiness, primary healthcare, tourism and value-added manufacturing as sectors with substantial potential to create jobs. He said small businesses were central to these sectors but needed financing and capacity-building support to expand their operations.

The World Bank Group has also been directing resources towards infrastructure, governance and private capital mobilisation to improve the conditions businesses need to grow. Banga said the institution committed $40 billion to infrastructure and a further $24 billion to governance improvements in the previous year. Those figures require confirmation against the Bank’s relevant financial-year records before publication.

A major obstacle facing MSMEs is the difficulty of obtaining loans on affordable terms. The World Bank Group estimates that businesses in developing countries face an annual financing gap of more than $4 trillion.

Banga attributed the gap to high lending costs, collateral requirements, regulatory constraints and inadequate credit information. Banks often rely on property and other physical assets as security, which excludes businesses that lack substantial assets despite having viable operations.

The Bank’s proposed approach involves using digital payments, electronic invoices and tax and utility payment records to help lenders assess businesses through their cash flows and transaction histories.

These records could give financial institutions a clearer picture of a business’s financial activity and repayment capacity, reducing their dependence on traditional collateral requirements.

The strategy also includes digital platforms intended to connect MSMEs with customers, suppliers, logistics providers, professional services and potential financiers. The Bank says governments can support the process by simplifying business registration, licensing and other regulatory procedures.

Banga said the institution had supported 35 countries in reducing bureaucratic bottlenecks, 10 in improving insolvency frameworks and seven in reforming procurement and competition regulations over the preceding three years.

The World Bank Group has also invested in more than 100 fintech companies and aggregators, according to Banga. It is exploring additional financing arrangements, including equity investments, loans backed by MSME receivables and risk-sharing mechanisms designed to encourage lending to underserved businesses.

Private capital mobilisation is another part of the approach. The World Bank Group reported that it mobilised $112 billion in private capital in fiscal 2026, alongside $123.5 billion in financing from its own resources.

Banga acknowledged that more investment was needed, particularly in fragile and conflict-affected countries, where businesses often face greater barriers to finance.

THE ISSUES

The central problem is that many small businesses struggle to obtain credit not necessarily because they lack customers or revenue, but because lenders cannot adequately assess their financial records or consider them worth the cost of servicing.

Traditional lending can favour businesses with property, extensive documentation and established credit histories. Smaller enterprises, informal businesses and young firms may lack those requirements even when they have regular sales.

Digital records could help address this information gap. A business with a consistent history of electronic payments, invoices and utility bills may be able to demonstrate its financial activity more clearly than one whose transactions are largely undocumented.

However, access to digital data does not automatically guarantee affordable credit. Lenders must still assess repayment risks, and businesses need reliable payment systems, appropriate digital infrastructure and safeguards for their financial information.

The cost of borrowing also matters. Better records may help a lender assess a business, but they do not eliminate high interest rates, weak demand, currency risks or other factors that affect lending decisions.

For Nigeria, the strategy is relevant to small businesses that have limited access to formal credit despite contributing to employment and commercial activity. Wider use of digital payments and more reliable business records could improve their visibility to lenders, while simpler registration and regulatory processes could reduce some barriers to formalisation.

The challenge will be ensuring that digital lending solutions reach smaller enterprises rather than mainly benefiting businesses that are already connected to formal financial services. The effectiveness of the approach will ultimately depend on whether it leads to more accessible financing on terms businesses can sustain.

WHAT’S BEING SAID

“MSMEs are the backbone of all five of these. They can not create jobs without funding. They can not create jobs without the right capacity building,” Banga said.

“More investment is needed, particularly in fragile and conflict-affected countries. The 112 billion dollars mobilised in private capital has not been enough because MSMEs are not just part of these economies; they are the backbone,” he said.

“We must reach the roadside mechanic in Nairobi, the seamstress in Lagos, and the exporter in Dakar; entrepreneurs that the traditional model was never designed to serve,” Banga said.

“We can not do this alone. We must build an ecosystem of fast payment systems, stronger local financial institutions, trusted intermediaries, and risk-sharing mechanisms that unlock private investment where it is needed most,” he said.

WHAT’S NEXT

The focus will be on whether digital data and payment infrastructure can translate into more lending for businesses that have historically struggled to obtain finance.

Progress will depend on cooperation between governments, banks, fintech companies, payment providers and other financial intermediaries. The proposed changes will also need to address regulatory barriers and ensure that lenders can use business data responsibly.

For developing economies, the key measure of success will be whether more small businesses can secure suitable financing, expand their operations and employ additional workers.

BOTTOM LINE

The World Bank Group wants digital records, improved business connections and risk-sharing arrangements to help close the financing gap facing MSMEs. The approach seeks to make small businesses easier to assess and finance, but its impact will depend on whether these measures translate into accessible, affordable credit and sustainable job creation.

Edo Assembly receives Okpebholo’s 2026 supplementary budget proposal

IMF projects 3.1% global growth in 2026, warns of risks

By
Kehinde Victor
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IMF Calls On Countries To Prevent Second Cold War

KEY POINTS

  • The IMF projects global economic growth of 3.1 per cent in 2026, down from 3.4 per cent in 2025.
  • The Fund warns that conflict-related energy shocks, inflation and rising debt are putting pressure on economic resilience.
  • Economies linked to artificial intelligence supply chains and unaffected energy exporters are performing relatively better, according to the IMF.
  • The Fund urges governments to strengthen public finances and provide targeted support to vulnerable households.
  • Georgieva warns that artificial intelligence also presents financial stability and cybersecurity risks.

MAIN STORY

The International Monetary Fund (IMF) has projected global economic growth of 3.1 per cent in 2026, below the 3.4 per cent recorded in 2025, while warning that persistent economic shocks, rising inflation and mounting debt pressures are testing the resilience of the global economy.

Speaking during the presentation of the Managing Director’s Global Policy Agenda at the IMF and World Bank Group Annual Meetings in Bangkok, Thailand, on Wednesday, October 14, IMF Managing Director Kristalina Georgieva said the outlook reflected competing pressures on economic activity.

The Fund’s projection remains unchanged from its April forecast, according to the information provided, but the expected slowdown reflects the impact of the conflict in the Middle East and increased demand associated with artificial intelligence (AI).

Georgieva said economies integrated into AI supply chains and energy-exporting countries not directly affected by the conflict were performing relatively better. Low-income economies and fragile, conflict-affected states face greater pressure, particularly where they depend on imported energy and have limited access to the benefits of the technology boom.

She also warned that rising bond yields in advanced economies were increasing borrowing costs for emerging and low-income countries, making debt servicing more expensive.

According to Georgieva, higher yields reflect several factors, including persistent inflation, investor demand, expectations of AI-driven growth and concerns about weak public finances. These pressures could further restrict the ability of governments to finance development and respond to economic shocks.

She said repeated crises had depleted fiscal and energy buffers in many countries, while some governments had failed to rebuild sufficient reserves following the COVID-19 pandemic.

Georgieva urged governments to strengthen public finances through better revenue collection, more disciplined spending and improved public financial management. She also called for temporary, targeted assistance to protect vulnerable households from higher food and energy prices, rather than policies that suppress market prices.

On monetary policy, she urged central banks to maintain their focus on price stability, noting that tighter monetary conditions could be necessary in countries where inflation remained above target.

The IMF managing director also highlighted risks associated with the rapid expansion of AI. While the technology could improve productivity and support prosperity, she warned that it could create financial stability vulnerabilities and increase cybersecurity threats.

She called on authorities to strengthen cyber resilience, particularly in critical systems such as financial infrastructure, and address excessive market concentration.

Georgieva further urged governments to improve the business environment, encourage competition, invest in digital and energy infrastructure and adopt active labour market policies. She said private-sector participation would be important in expanding AI adoption, creating jobs and ensuring that the benefits of technological change reached more people.

She added that the IMF had completed policy reforms intended to improve risk identification, strengthen surveillance, support achievable country-specific reforms and enhance debt sustainability assessments.

THE ISSUES

The IMF’s outlook highlights an uneven global economy in which the benefits of technological investment and energy exports are not distributed equally.

AI-related investment can stimulate demand and support economic activity, but countries without strong digital infrastructure, reliable electricity and the capacity to participate in technology supply chains may find it harder to benefit. At the same time, the Middle East conflict has created energy supply pressures that weigh on economies dependent on imported fuel.

Rising bond yields add another challenge. When borrowing costs increase, governments may have to devote more revenue to servicing existing debt, leaving less room for infrastructure, healthcare, education and social protection. The pressure can be particularly difficult for low-income countries with limited fiscal resources.

The IMF’s recommendation to use targeted support rather than suppress market prices also has implications for public spending. Broad energy subsidies can be expensive and may benefit higher-income consumers as well as vulnerable households. Targeted assistance can help governments direct limited resources towards those most affected, although its effectiveness depends on accurate beneficiary identification and efficient delivery.

AI presents a separate policy challenge. Its potential productivity gains could support growth, but greater reliance on digital systems also exposes businesses and financial institutions to cyberattacks and operational disruptions. The distribution of the gains will depend partly on investment, competition, infrastructure and workers’ ability to adapt to changing labour market demands.

For Nigeria, the global outlook matters through energy prices, foreign borrowing costs, investment flows and demand for exports. Higher international energy prices may benefit oil-exporting revenue, but they can also increase domestic fuel and transport costs. The net effect will depend on global market conditions and Nigeria’s own fiscal and economic policies.

WHAT’S BEING SAID

“Governments should urgently strengthen public finances through improved revenue mobilisation, rationalised spending and better public financial management,” Georgieva said.

“They should protect vulnerable citizens from rising food and energy prices through temporary, targeted assistance rather than suppressing market prices,” she said.

“AI-enabled cyberattacks can disrupt critical systems, including financial infrastructure, requiring authorities to strengthen cyber resilience and address excessive market concentration,” Georgieva said.

WHAT’S NEXT

Governments will be under pressure to rebuild fiscal buffers, improve revenue collection and manage spending as borrowing costs and economic uncertainty persist. Central banks will also need to assess inflation pressures when setting monetary policy.

The IMF is expected to continue working with member countries on policy surveillance, debt sustainability and reforms intended to strengthen economic resilience. The extent to which AI investment supports broader growth will depend on how effectively countries address infrastructure gaps, cybersecurity risks and labour market changes.

BOTTOM LINE

The IMF expects global growth to slow to 3.1 per cent in 2026 as energy shocks, inflation and debt pressures weigh on economic activity. It is urging governments to strengthen public finances, protect vulnerable households through targeted support and prepare for both the opportunities and risks associated with artificial intelligence.

Nigeria, Ghana arrest 28 in international cybercrime crackdown

Nigeria, Ghana arrest 28 in international cybercrime crackdown

By
Kehinde Victor
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Cybercrime: The Greatest Challenge Of The Nigerian Youth In The Digital Age

KEY POINTS

  • Nigerian and Ghanaian authorities arrested 28 suspects during a coordinated international operation targeting online fraud networks.
  • Authorities in Ghana identified 117 suspected trafficking victims awaiting repatriation to Nigeria.
  • Investigators seized electronic devices in Delta State and near Accra.
  • Technology companies reported removing more than 3.7 million fraudulent accounts, pages and groups.
  • Authorities identified more than $11 million in potentially freezable funds, which does not mean the money has been recovered.

MAIN STORY

Law enforcement agencies in Nigeria and Ghana arrested 28 suspects and identified 117 suspected human trafficking victims during an international operation targeting online fraud networks operating across West Africa, according to announcements by the United States Department of Justice and the United Kingdom’s National Crime Agency (NCA).

The operation, known as Joint Disruption Week, ran from October 6 to October 9, with investigators and technology companies sharing intelligence to identify suspected scam centres, disrupt fraudulent online accounts and support arrests.

In a statement published on Tuesday, October 13, the US Department of Justice said Nigerian authorities arrested nine people, while Ghanaian authorities arrested 19 in Sasaabi, near Accra. The Ghana operation also resulted in the seizure of 303 electronic devices and the identification of 117 trafficking victims awaiting repatriation to Nigeria.

The NCA said the Nigerian arrests took place across Delta State, where officers seized six laptops, 35 mobile phones and 12 routers.

The Ghana operation was led by the country’s Cyber Security Authority, with support from the Ghana Police Service, the NCA, the Federal Bureau of Investigation and Nigeria’s Economic and Financial Crimes Commission, among other agencies.

Assistant US Attorney General A. Tysen Duva of the Justice Department’s Criminal Division commended the officers involved and said collaboration between law enforcement and private companies had helped disrupt the networks.

The US Justice Department said participating technology companies reported removing more than 3.7 million accounts, pages and groups used to target people in the United States, the United Kingdom and other countries.

The companies also shared leads on more than 30 suspected scam centres with law enforcement. According to the department, the information contributed to arrests, cryptocurrency seizures and the identification of trafficking victims.

The department said private-sector partners identified more than $11 million in potentially freezable funds connected to suspected fraudulent operations. The figure represents funds identified as potentially eligible for freezing, not money confirmed as recovered or permanently confiscated.

The schemes targeted by investigators included cryptocurrency investment fraud, impersonation of law enforcement officers, digital arrest extortion and other online scams.

US Attorney Jeanine Ferris Pirro, who leads the Scam Center Strike Force in Washington, said international cooperation was necessary to pursue criminal networks operating across borders.

The NCA also reported that earlier enforcement activity in Ghana had uncovered people suspected of being trafficking victims who may have been coerced into participating in fraud. The agency said some victims were identified after being taken into custody because they were suspected of involvement in criminal activity.

The US Justice Department said participating agencies intended to continue working with private-sector partners to disrupt online fraud infrastructure and pursue those responsible for transnational scams.

THE ISSUES

The operation highlights the overlap between online fraud and human trafficking. Some suspected scam centres rely on people who may have been recruited or transported under false pretences and then coerced into carrying out fraudulent activities.

The identification of 117 suspected trafficking victims in Ghana is therefore distinct from the arrests of the 19 suspects there. The authorities have not said that every person found at the locations was involved in criminal activity, and suspected victims should not be treated as offenders merely because they were found at a scam centre.

The removal of millions of online accounts also illustrates the role technology companies can play in disrupting fraud. However, account removals alone do not establish that every affected account was linked to a criminal offence, nor do they replace investigations and prosecutions against individuals suspected of operating the networks.

The $11 million in potentially freezable funds is another important distinction. Identifying money that could potentially be frozen does not establish that authorities have seized it, recovered it for victims or obtained a court order for its confiscation.

For Nigeria, the operation also raises the importance of cooperation with foreign authorities in identifying trafficking victims, investigating suspected cybercrime and arranging the return of Nigerian citizens from abroad.

WHAT’S BEING SAID

“I am especially grateful to the courageous law enforcement officers in Ghana and Nigeria” said A. Tysen Duva, assistant attorney general of the US Justice Department’s Criminal Division.

WHAT’S NEXT

Authorities are expected to continue investigating the suspected networks, examining seized devices and following financial leads generated by the operation. The return of the 117 identified trafficking victims to Nigeria will also require coordination between the relevant authorities.

Further enforcement action will depend on the evidence gathered, the identification of additional suspects and the ability of investigators to trace funds linked to the suspected scams.

BOTTOM LINE

The international operation resulted in 28 arrests in Nigeria and Ghana, the seizure of electronic devices and the identification of 117 suspected trafficking victims in Ghana. Authorities and technology companies also disrupted millions of online accounts and identified funds that may be eligible for freezing, although that amount has not been confirmed as recovered.

Okereke urges Nigerians to hold elected leaders accountable ahead of 2027 elections

IMF warns global public debt will reach 100% of GDP by 2029

By
Kehinde Victor
-
IMF Calls On Countries To Prevent Second Cold War

KEY POINTS

  • Global public debt reached 94 per cent of GDP in 2025 and is projected to hit 100 per cent by 2029, according to the IMF.
  • Rising interest payments and growing government spending are making debt stabilisation more difficult.
  • IMF officials urged governments to strengthen tax collection and eliminate inefficient tax exemptions.
  • Tax administration reforms have generated additional revenue equivalent to nearly two per cent of GDP in some countries, according to IMF research.
  • The Fund called for more efficient public spending while protecting essential investment in healthcare, education and infrastructure.

MAIN STORY

The International Monetary Fund (IMF) has urged governments to strengthen their public finances as global public debt is projected to reach 100 per cent of Gross Domestic Product (GDP) by 2029, with rising borrowing costs and spending commitments increasing pressure on government budgets.

The Fund’s Fiscal Monitor, presented during the IMF and World Bank Group Annual Meetings in Bangkok, Thailand, on Wednesday, October 14, warned that global public debt had reached 94 per cent of GDP in 2025 and was on course to reach the 100 per cent threshold by 2029. The IMF said the accumulation was driven largely by the world’s major economies.

Presenting the report, Rodrigo Valdés, director of the IMF’s Fiscal Affairs Department, said resilient economic activity had not translated into a meaningful improvement in government finances. He warned that the opportunity for governments to adjust their budgets in an orderly manner was narrowing.

Valdés urged governments to act before deteriorating market conditions forced them to make more difficult fiscal adjustments. He noted that competing demands for social services, defence, healthcare and other development priorities could make it harder to improve budget balances.

Rising interest rates are also expected to increase debt-servicing costs as governments refinance existing obligations at higher rates. Because public debt is often refinanced over several years, the full effect of higher borrowing costs can take time to appear in government budgets.

Valdés highlighted the interest-growth differential, which measures the relationship between the interest rate paid on public debt and the rate at which an economy grows. When borrowing costs exceed economic growth, governments generally face greater difficulty stabilising their debt relative to GDP, particularly when they continue to run primary budget deficits.

The IMF has warned that less favourable interest-growth conditions are increasing the risk of further debt accumulation across advanced and emerging market economies.

Davide Furceri, a division chief in the IMF’s Fiscal Affairs Department, said emerging and developing economies needed to improve domestic revenue mobilisation to meet debt obligations and finance development programmes.

The Fund recommends broadening tax bases, removing inefficient exemptions, simplifying tax systems and strengthening tax administration. These measures could increase government revenue without necessarily raising tax rates across the board.

Furceri also warned that complicated tax procedures could discourage investment and undermine the productivity of small and young businesses. He advocated tax systems that reduce unnecessary economic distortions while making revenue collection more efficient.

According to the research cited by Furceri, tax administration reforms in some countries had generated additional revenue equivalent to nearly two per cent of GDP.

He also stressed that stronger revenue collection must be accompanied by more efficient public spending. Governments, he said, should protect investment in education, healthcare and infrastructure while directing social assistance towards people most in need.

THE ISSUES

The IMF’s warning highlights the growing pressure on governments to balance debt obligations against demands for public services and economic development.

When governments borrow more or refinance existing debt at higher interest rates, a larger share of public revenue may be needed to service those obligations. This can leave less money available for infrastructure, healthcare, education and other programmes, particularly in countries with limited revenue bases.

The interest-growth differential is central to this challenge. If interest rates remain above economic growth rates, debt can become harder to stabilise unless governments improve their primary budget balances or benefit from other favourable conditions.

For developing economies, raising domestic revenue is one way to reduce dependence on borrowing. However, tax reforms can also create difficulties if they impose excessive compliance costs on businesses or place additional pressure on households already facing high living costs.

The IMF’s recommendation to simplify tax systems and remove inefficient exemptions therefore places emphasis on improving how revenue is collected, rather than relying exclusively on higher tax rates.

Spending efficiency is equally important. Increasing revenue will not necessarily improve public finances if expenditure continues to rise without corresponding improvements in public services or economic productivity.

For Nigeria, the issues are particularly relevant to government revenue mobilisation, debt servicing and the funding of essential public services. However, the IMF’s global debt projection is not a forecast of Nigeria’s individual debt-to-GDP ratio.

WHAT’S NEXT

Governments will face pressure to demonstrate credible plans for managing debt, controlling expenditure and improving revenue collection. The effectiveness of those plans will depend on their ability to address fiscal weaknesses without undermining economic activity or essential public services.

For emerging and developing economies, the implementation of simpler tax systems, stronger compliance measures and more efficient public spending will be important in determining how much additional revenue can be raised and how effectively it can be used.

BOTTOM LINE

The IMF projects that global public debt will reach the equivalent of the world economy’s annual output by 2029. It is urging governments to improve revenue collection, manage expenditure and act early to limit the impact of rising borrowing costs on public finances.

Edo Assembly receives Okpebholo’s 2026 supplementary budget proposal

Edo Assembly receives Okpebholo’s 2026 supplementary budget proposal

By
Emmanuella Opara
-

By Emmanuella Opara | October 13th, 2026

KEY POINTS

  • -The Edo State House of Assembly has received Governor Monday Okpebholo’s 2026 Supplementary Appropriation Bill for consideration and approval.
  • -The Speaker, Yekini Idaiye, said the proposal would be scheduled for consideration at a later date.
  • -Lawmakers have referred a bill seeking to establish the Edo State Emergency Management Agency to the Committee on Environment and Sustainability.
  • -The proposed agency is intended to provide a legal and operational framework for responding to emergencies, including flooding and environmental challenges associated with prolonged dry weather.
  • -Lawmakers supporting the bill said it would provide legal backing for emergency response, including access to budgetary provisions and relief materials.

MAIN STORY

The Edo State House of Assembly has received Governor Monday Okpebholo’s 2026 Supplementary Appropriation Bill for legislative consideration and approval.

The Speaker, Yekini Idaiye, announced the development during plenary in Benin on Monday after reading a letter from the governor formally transmitting the proposal to the legislature.

Idaiye said the supplementary budget would be listed on the Order Paper for consideration at a later date, paving the way for further legislative action on the proposal.

The supplementary budget was one of the matters brought before the assembly during the sitting, which also considered legislation aimed at strengthening emergency management in the state.

Lawmakers referred a bill seeking to establish the Edo State Emergency Management Agency to the Committee on Environment and Sustainability for further consideration.

The referral followed a motion moved by the Majority Leader, Sunday Ojezele, and seconded by Charity Aiguobarueghian, who represents Ovia North-East II constituency.

Leading the debate, Ojezele cited Section 14 of the 1999 Constitution of the Federal Republic of Nigeria, which identifies the security and welfare of the people as the primary purpose of government.

He said the proposed legislation was intended to establish a legal and operational framework for the agency and its governing council to enable them to respond effectively to emergencies.

The emergencies identified include flooding during the rainy season and environmental challenges associated with prolonged dry weather.

Other lawmakers who supported the proposal included Edosa Richard of Oredo West, Natasha Osawaru of Egor, Donald Okogbe of Akoko-Edo II and Maria Edeko of Esan North-East II.

They emphasised the need for an effective emergency management system to protect lives and property across the state.

The lawmakers also argued that the proposed law would provide the legal foundation for emergency response operations, including access to budgetary provisions and relief materials.

Following the debate, Idaiye referred the bill to the Committee on Environment and Sustainability for further legislative work.

The assembly subsequently adjourned plenary until Tuesday, October 13.

THE ISSUES

The supplementary budget proposal now before the Edo State House of Assembly requires legislative consideration before any approval can be granted. The governor’s transmission of the bill marks the beginning of that process, while the Speaker’s announcement indicates that the proposal is yet to be scheduled for consideration.

The proposed emergency management agency represents a separate legislative matter focused on the state’s capacity to respond to disasters and environmental challenges.

Flooding during the rainy season and difficulties associated with prolonged dry weather were specifically identified during the debate as situations the proposed agency would be expected to address.

The legislation also seeks to establish a governing structure and provide a legal basis for the agency’s operations. Lawmakers supporting the bill have highlighted the importance of access to budgetary provisions and relief materials in responding to emergencies.

Both matters now require further action by the legislature, with the supplementary budget awaiting consideration and the emergency management bill referred to the relevant committee.

WHAT’S NEXT

The Edo State House of Assembly is expected to schedule Governor Okpebholo’s 2026 Supplementary Appropriation Bill for consideration at a later date.

Meanwhile, the Committee on Environment and Sustainability will undertake further legislative work on the proposed Edo State Emergency Management Agency bill before any subsequent action by the assembly.

The house is scheduled to resume plenary on Tuesday, October 13.

BOTTOM LINE

The Edo Assembly has received Okpebholo’s 2026 supplementary budget proposal but has yet to consider it for approval. Lawmakers have also referred a bill to establish a state emergency management agency to a committee for further examination, with the proposed legislation intended to strengthen responses to flooding and other environmental emergencies.

Nigerian stocks rebound after seven sessions of losses

Okereke urges Nigerians to hold elected leaders accountable ahead of 2027 elections

By
Emmanuella Opara
-

By Emmanuella Opara | October 13th, 2026

KEY POINTS

  • -Labour Party presidential candidate Chibuzor Okereke has urged Nigerians to reclaim their democratic power by holding elected officials accountable ahead of the 2027 general elections.
  • -He said citizens must understand their constitutional rights and actively participate in determining who governs them.
  • -Okereke called for electoral integrity, insisting that voters must be able to choose and remove leaders through a credible electoral process.
  • -He said the Labour Party’s manifesto prioritises people-centred governance, workers’ welfare, infrastructure, economic policies and job creation.
  • -The candidate expressed confidence in the party’s readiness for the 2027 elections and called for policies that improve citizens’ living conditions.

MAIN STORY

Labour Party presidential candidate Chibuzor Okereke has called on Nigerians to take greater responsibility for the country’s democracy by holding elected officials accountable and exercising their constitutional rights ahead of the 2027 general elections.

Okereke said citizens must recognise that political authority derives from the people and that they have the right to determine who governs them through the electoral process.

Speaking in an interview in Abuja on Tuesday, October 13, he urged political parties to mobilise citizens to participate actively in democratic processes and take ownership of the country’s political future.

He argued that Nigerians could exercise greater influence over governance if they understood their rights, remained organised and acted collectively.

“When we talk about sovereignty, it belongs to the people, it is not offered. It is a fundamental right that is enshrined, which must be exercised by the citizens. To exercise it, you need knowledge of that right,” he said.

The Labour Party candidate maintained that citizens collectively possessed greater power than those holding political offices, provided they were informed and organised.

“It is time for citizens to realise that the power of the people, will always be greater than the people in power, only if the citizens are organised,” he said.

Okereke argued that elected officials should remain accountable to the electorate because they occupy public office through the authority granted by citizens.

He said Nigerians should not allow a small group of political officeholders to exercise power without effective public oversight while citizens continue to express dissatisfaction with governance.

Drawing a comparison with the relationship between employees and their organisations, he said political leaders should demonstrate a strong sense of responsibility towards the citizens they represent.

“To achieve this, the citizens must own back the power to hire and fire. And that means our electoral process must have integrity,” he said.

Okereke added that credible elections depended on citizens’ participation in protecting the electoral process and ensuring that election results reflected voters’ choices.

Beyond electoral accountability, the candidate outlined the Labour Party’s position on governance, saying its manifesto prioritised the welfare of Nigerians and placed people at the centre of public policy.

He said this approach should influence infrastructure development, economic policies, government budgeting and job creation.

“If we invest in our people, if we focus on our people, it will affect the design of our infrastructure. It will affect the design of our economic policies. It will affect even our budgeting system,” he said.

Okereke argued that government budgets should be assessed by how effectively they improve citizens’ living conditions and expand opportunities.

“Budget has a face, it has a character. When you look at a budget, you will know if it is designed to empower and improve the well-being of the people,” he added.

He also called for a governance approach that responds to citizens’ needs and considers different perspectives in policymaking rather than treating opposition voices as the only alternative to the government’s position.

The presidential candidate expressed confidence in the Labour Party’s preparedness for the 2027 elections, saying Nigerians across political affiliations wanted governments that would improve living standards, create opportunities and promote economic prosperity.

He described the Labour Party as a political platform associated with Nigerian workers, pointing to its links with the labour movement and organised labour.

According to him, workers’ welfare, including the payment of salaries, pensions and gratuities, remains central to the party’s vision of governance.

Okereke also cited developments in Abia State, governed by the Labour Party, as an example of how its approach to workers’ welfare could be extended nationally.

He said improvements in citizens’ happiness and well-being could support innovation, productivity and sustainable national development.

THE ISSUES

Okereke’s comments place electoral accountability and citizens’ participation at the centre of his message ahead of the 2027 general elections.

His argument is that democratic participation should extend beyond voting to include understanding constitutional rights, monitoring elected officials and protecting the integrity of elections.

His call for citizens to reclaim the power to hire and fire their representatives also highlights the role of credible electoral processes in enabling voters to choose their leaders and replace them through elections.

The candidate has linked these democratic principles to the Labour Party’s broader policy position, which he says prioritises citizens’ welfare in government spending, infrastructure, economic planning and employment.

His emphasis on budgeting suggests that public expenditure should be assessed not only by the amount allocated to projects but also by its intended impact on people’s living conditions.

Okereke has also presented workers’ welfare as a central part of the party’s governance approach, citing salaries, pensions and gratuities as key concerns.

However, his statements represent the party’s stated policy positions and assessment of its record. The interview does not provide detailed figures to independently establish the scale of the improvements in workers’ welfare he referenced in Abia State.

WHAT’S BEING SAID

On citizens’ democratic rights, Okereke said: “When we talk about sovereignty, it belongs to the people, it is not offered. It is a fundamental right that is enshrined, which must be exercised by the citizens.”

He also said: “It is time for citizens to realise that the power of the people, will always be greater than the people in power, only if the citizens are organised.”

On electoral accountability, he stated: “To achieve this, the citizens must own back the power to hire and fire. And that means our electoral process must have integrity.”

On the party’s approach to public policy, he said: “Budget has a face, it has a character. When you look at a budget, you will know if it is designed to empower and improve the well-being of the people.”

WHAT’S NEXT

With the 2027 general elections approaching, the Labour Party is expected to continue presenting its policy positions and mobilising support around its proposed approach to governance.

Okereke has emphasised the need for greater public participation, credible elections and policies that prioritise citizens’ welfare.

The implementation of these proposals, including the party’s positions on workers’ welfare, economic policy, budgeting and job creation, will be relevant to assessing its plans as the election campaign progresses.

BOTTOM LINE

Okereke has urged Nigerians to exercise their democratic rights and hold elected officials accountable ahead of the 2027 elections. He has linked credible elections to people-centred governance, arguing that public policy, government spending and workers’ welfare should focus on improving citizens’ living conditions.

NDLEA has transformed Nigeria’s drug control — Marwa at UNGA

Senate urges FG to release ecological fund for erosion-hit Cross River communities

By
Emmanuella Opara
-

By Emmanuella Opara | October 13th, 2026

KEY POINTS

  • -The Senate has called on the Federal Government to urgently release funds from the Ecological Fund to tackle gully erosion and landslides in Cross River South Senatorial District.
  • -Senator Asuquo Ekpenyong said the disasters had caused deaths, displaced residents and destroyed homes in several communities.
  • -A landslide at Ikot Anwatim in July 2026 reportedly killed five people, including four siblings, while another incident at Edim Otop claimed the life of an eight-year-old girl.
  • -The Senate called for emergency assistance, including temporary shelter, food, medical care and support for displaced families.
  • -Senate President Godswill Akpabio directed the Senate Committee on Environment to assess affected communities and existing interventions.

MAIN STORY

The Senate has called on the Federal Government to urgently release funds from the Ecological Fund to address gully erosion and landslides threatening lives and property in Cross River South Senatorial District.

The resolution followed a motion of urgent national importance moved by Senator Asuquo Ekpenyong, who represents Cross River South, during plenary on Tuesday, October 13.

Ekpenyong raised concerns over recurring ecological emergencies in Calabar metropolis and neighbouring communities, saying the disasters had claimed lives, destroyed homes and displaced residents.

He identified Atakpa, Edim Otop, Ikot Effangha Mkpa, Nyaghasang, Ikot Anwatim, Nasarawa/Bacoco, Akai Effa, Bayside and Summit Hills among the communities affected by erosion. He also said landslides continued to threaten residents in Anansa.

The senator recalled a landslide at Ikot Anwatim in July 2026 that killed five people, including four siblings from the same family, destroyed two houses and injured two other residents.

He also cited a separate landslide at Edim Otop that claimed the life of an eight-year-old girl, describing the incidents as evidence of the urgent need for coordinated intervention to prevent further loss of lives.

According to Ekpenyong, affected families have suffered bereavement, displacement and the destruction of their homes and livelihoods, while unstable slopes continue to expose other communities to danger.

He identified poorly designed drainage systems, rapid urbanisation, blocked drains, indiscriminate waste disposal, unregulated sand mining, vegetation removal and unsuitable land-use practices as factors contributing to the erosion problem.

The senator warned that isolated remedial projects could worsen the situation in neighbouring communities if they were not supported by coordinated watershed planning and comprehensive engineering solutions.

He called for the immediate mobilisation of federal resources, including the Ecological Fund, to support emergency measures and long-term erosion control.

“Further delay risks additional deaths, deeper displacement and greater destruction, and this emergency demands the immediate mobilisation of federal resources, including the Ecological Fund,” Ekpenyong said.

He added that families affected by the disasters needed temporary shelter, food, medical assistance and psychosocial support. Residents facing immediate danger, he said, should receive help with safe evacuation and temporary relocation.

Ekpenyong also stressed that major erosion-control projects should be based on geotechnical and hydrological assessments, properly engineered discharge points, qualified design and supervision, and appropriate environmental and social safeguards.

Contributing to the debate, Senator Ekong Sampson, who represents Akwa Ibom South, sympathised with residents of Cross River South over the impact of gully erosion and landslides.

He called for urgent action to protect lives, property and vulnerable communities.

Following the debate, the Senate urged the Federal Government to approve, allocate and release adequate funding for emergency stabilisation and comprehensive erosion remediation in the affected areas.

It also called on the Federal Ministry of Environment to work with the Cross River State Government and relevant agencies to assess dangerous locations and begin appropriate emergency protective works.

The Senate further urged the National Emergency Management Agency, the Cross River State Emergency Management Agency and affected local councils to provide immediate assistance to bereaved and displaced families.

It called for the introduction of effective early-warning systems and continuous monitoring of unstable sites to alert residents and facilitate timely evacuation when conditions threaten their safety.

The Federal Ministries of Environment and Works were also urged to prioritise funding for erosion-control projects in Cross River and ensure that interventions were supported by comprehensive technical assessments.

Senate President Godswill Akpabio subsequently directed the Senate Committee on Environment to visit affected locations, examine existing interventions, engage relevant agencies on funding and implementation, and submit recommendations for further legislative action.

THE ISSUES

The Senate’s intervention centres on the need for immediate funding and coordinated action to address erosion and landslides threatening communities in Cross River South.

The reported deaths, destruction of homes and displacement of residents illustrate the human consequences of the ecological emergency. The incidents at Ikot Anwatim and Edim Otop were specifically cited during the debate as reasons for urgent intervention.

The motion also highlights the importance of combining emergency relief with long-term environmental management. While evacuation, temporary accommodation and medical assistance can address immediate needs, sustainable erosion control requires technical assessments and properly designed engineering works.

Ekpenyong’s warning about isolated remedial projects points to the risk of interventions that fail to consider the wider drainage and watershed systems. Measures undertaken in one location could transfer erosion risks to neighbouring communities if water discharge and land conditions are not properly assessed.

The proposed use of the Ecological Fund is therefore intended to support both immediate stabilisation measures and comprehensive remediation. The Senate’s resolution calls for the release of adequate resources, although the motion itself does not establish that the funds have been approved or disbursed.

WHAT’S BEING SAID

Ekpenyong warned: “Further delay risks additional deaths, deeper displacement and greater destruction, and this emergency demands the immediate mobilisation of federal resources, including the Ecological Fund.”

He also said: “Affected families require temporary shelter, food, medical and psychosocial support, while residents facing imminent danger must receive assistance with safe evacuation and temporary relocation.”

On the technical requirements for erosion-control projects, he said: “Major works must be supported by geotechnical and hydrological assessments, properly engineered discharge points, qualified design and supervision, and applicable environmental and social safeguards.”

WHAT’S NEXT

The Senate Committee on Environment is expected to assess the affected communities and review existing interventions following Akpabio’s directive.

The committee is also expected to engage relevant government agencies on funding and implementation and submit recommendations to the Senate for further legislative action.

Meanwhile, the Senate has called on the Federal Government to release adequate resources for emergency stabilisation and comprehensive erosion-control projects.

The Federal Ministry of Environment, the Cross River State Government, NEMA, the state emergency management agency and affected local councils have also been urged to take action within their respective responsibilities, including assessing dangerous sites, providing relief and establishing early-warning and monitoring systems.

The timing of any fund release and the commencement of the proposed interventions have not been specified.

BOTTOM LINE

The Senate has urged the Federal Government to release Ecological Fund resources to tackle gully erosion and landslides threatening communities in Cross River South. The resolution calls for emergency relief, technical assessments, long-term erosion-control projects and closer monitoring of dangerous sites, following reports of deaths, destroyed homes and displacement.

Changes have not been easy – Seyi Tinubu admits hardship

NNPP sets to Adopt Presidential Candidate for 2027 Election, Aniebonam Says

By
Emmanuella Opara
-

By Emmanuella Opara | October 13th, 2026

KEY POINTS

  • -The New Nigeria Peoples Party (NNPP) plans to announce a prominent presidential candidate it will adopt for the 2027 election.
  • -Party founder Boniface Aniebonam attributed the decision not to field its own presidential candidate to prolonged litigation over the party’s leadership.
  • -Aniebonam said the party would consult its national leadership and other stakeholders before finalising the adoption.
  • -The NNPP intends to continue contesting other elective positions nationwide.
  • -The party founder said the NNPP plans to field its own presidential candidate in the 2031 general election.

MAIN STORY

The founder of the New Nigeria Peoples Party (NNPP), Dr Boniface Aniebonam, has announced that the party will soon adopt a presidential candidate for the 2027 general election, explaining that prolonged leadership disputes prevented it from adequately preparing its own candidate for the race.

Aniebonam disclosed this in a statement issued in Abuja on Tuesday, October 13, saying the party was considering a prominent contender who could compete with candidates presented by other political parties.

He explained that the legal disputes over the NNPP’s leadership had limited the time available to select and process a presidential candidate who met the party’s requirements.

According to him, although the Independent National Electoral Commission recognised the NNPP led by Dr Agbo Major as its national chairman, the time available after the recognition was insufficient to complete the process of selecting a suitable presidential candidate.

“Indeed INEC recognised the NNPP led by Dr Agbo Major as the National Chairman but the time was short from the recognition to getting a candidate for the party,” Aniebonam said.

He disclosed that the party had initially made provision for a placeholder while searching for a candidate it considered suitable for the 2027 presidential election.

“We had a placement holder while shopping for an authentic presidential candidate with character and capacity for the 2027 election,” he said.

Aniebonam maintained that the party remained committed to its manifesto and the standards it had established for anyone seeking to represent it in a presidential contest.

He also referred to the party’s experience with Rabiu Musa Kwankwaso in the 2023 election, saying it did not want to repeat what he described as a mistake.

“The NNPP is firm with its manifesto and requirements for a presidential candidate. We made a mistake with Kwankwaso in 2023 and do not want to repeat it,” he said.

The party founder added that the NNPP was not seeking political power at any cost, stressing that its decision on the presidential election was guided by its assessment of the available options.

“The NNPP is not desperate to rule Nigeria at all cost. We believe that God has the final say and that the Almighty decides who can lead a nation, hence our stance on politics not being a do or die affair,” he said.

Aniebonam said the party’s leadership across the country would meet soon to conclude discussions on the proposed adoption and communicate its decision to Nigerians.

He stressed that the eventual choice would be based on the party’s assessment of the candidate’s suitability for the country.

“The one thing that is sacrosanct is that we will adopt a candidate that we believe is best for Nigeria and Nigerians,” he said.

He added that the adoption process would involve input from party members, maritime practitioners, shippers and other stakeholders in the maritime transport and logistics sectors.

While the NNPP plans to support another party’s presidential candidate in 2027, Aniebonam said its participation in other elective contests remained unchanged.

He insisted that NNPP candidates seeking legislative and other political offices across the country would continue with their campaigns.

“For now, the only position we will no longer be contesting for is the presidency. By 2031, we will have a presidential candidate to compete favourably with other political parties,” he added.

THE ISSUES

The NNPP’s planned adoption of another party’s presidential candidate marks a departure from fielding its own candidate in the 2027 presidential election.

Aniebonam has attributed the decision to prolonged litigation over the party’s leadership, which he said left insufficient time to identify and prepare a suitable presidential candidate.

The party’s next decision will involve choosing a candidate whose political position and suitability align with its stated requirements. Aniebonam has indicated that party leaders and stakeholders from the maritime and logistics sectors will participate in the process.

His remarks about the party’s experience with Kwankwaso in 2023 also suggest that the NNPP intends to apply its own criteria when deciding which presidential candidate to support. However, the statement does not identify the candidate the party plans to adopt or specify when the announcement will be made.

The party has also drawn a distinction between its presidential strategy and its participation in other elections. While it intends to adopt a candidate for the presidency, it says its candidates will continue contesting other elective offices in 2027.

WHAT’S BEING SAID

Aniebonam explained the effect of the leadership dispute, saying: “Indeed INEC recognised the NNPP led by Dr Agbo Major as the National Chairman but the time was short from the recognition to getting a candidate for the party.”

On the party’s proposed choice, he said: “The one thing that is sacrosanct is that we will adopt a candidate that we believe is best for Nigeria and Nigerians.”

He also stated: “For now, the only position we will no longer be contesting for is the presidency. By 2031, we will have a presidential candidate to compete favourably with other political parties.”

WHAT’S NEXT

The NNPP leadership is expected to meet to finalise arrangements for adopting a presidential candidate for the 2027 election.

The party is yet to announce its preferred candidate, with Aniebonam saying the decision will be communicated to Nigerians after consultations with party leaders and other stakeholders.

Meanwhile, NNPP candidates seeking other elective positions are expected to continue their participation in the 2027 electoral race.

The party has also indicated that it intends to field its own presidential candidate in the 2031 general election.

BOTTOM LINE

The NNPP plans to adopt another party’s presidential candidate for the 2027 election after leadership litigation disrupted its preparations for the race. Founder Boniface Aniebonam says the party will consult its leadership and stakeholders before announcing its choice, while continuing to contest other elective positions nationwide.

Arise drops Anthony Kila over forgery claim

Oil prices fall as russian diesel deal eases supply concerns

By
Boluwatife Oshadiya
-
Crude Oil Prices Surge Towards $80 After OPEC+ Cancels Output Talks

By Boluwatife Oshadiya | October 13, 2026

Key Points

  • Brent crude futures fell 1.2% to $105.38 per barrel, while US West Texas Intermediate declined 1.4% to $92.44
  • The US Treasury authorised specified transactions involving Russian diesel through April 7, 2027, following a supply agreement announced by President Donald Trump
  • Uncertainty over a proposed Russia-Ukraine energy ceasefire and questions about the scale of additional fuel supplies continue to cloud the market outlook

Main Story

Oil prices fell on Tuesday as a US-Russia diesel supply agreement raised expectations of improved fuel availability, although uncertainty over the Russia-Ukraine conflict continued to influence market sentiment.

Brent crude futures for December delivery declined 1.2% to $105.38 per barrel from $106.65 at the previous close, while US West Texas Intermediate (WTI) crude futures for November delivery dropped 1.4% to $92.44 from $93.74, according to the figures provided in the market report.

The price movements followed an agreement announced by US President Donald Trump on Friday, October 9, after discussions with Russian President Vladimir Putin. Trump said Russia would supply diesel to US and global markets in an effort to ease fuel supply pressures.

The US Treasury Department’s Office of Foreign Assets Control subsequently issued a licence authorising specified transactions involving the sale, delivery, offloading and importation of Russian diesel through April 7, 2027. The measure provides a temporary easing of restrictions on qualifying transactions rather than a general removal of sanctions on Russian energy exports.

Russia also announced a partial relaxation of its diesel export ban. Deputy Prime Minister Alexander Novak told state broadcaster Vesti on Monday that the country could increase diesel exports to 3.5 million metric tonnes monthly by the end of the year.

The additional supply could help ease market tightness, but the extent of any price relief will depend on actual shipments, delivery schedules and the wider balance between global supply and demand.

Meanwhile, Trump renewed calls for Putin and Ukrainian President Volodymyr Zelenskyy to reach an agreement to end the war. He maintained that both leaders supported an energy ceasefire, although their public positions have been disputed.

The competing signals leave energy markets weighing the prospect of additional fuel supplies against the risk that continuing geopolitical tensions could disrupt production, transport and trade.

What’s Being Said

Trump said he wanted the Russian and Ukrainian presidents to reach an agreement, telling reporters: “All I know is that Zelensky and Putin have to get together and end that ridiculous war.” — Donald Trump, US President.

Market analysts have also questioned whether the announced diesel volumes would be sufficient to produce substantial price relief. Michael Lynch of the Energy Policy Research Foundation told the Associated Press that redirecting Russian supplies could leave existing customers seeking fuel elsewhere, limiting the overall impact on prices. Source.

What’s Next

  • Russian exports: Markets will monitor whether Russia delivers the announced diesel volumes and increases exports as projected by Novak.
  • Sanctions and shipments: The US Treasury licence remains in effect through April 7, 2027, for the transactions it covers.
  • Ukraine conflict: Further developments concerning the proposed energy ceasefire could affect expectations for energy supply and geopolitical risk.

Bottom Line

The Bottom Line: The diesel agreement has introduced the possibility of additional supply, but an announcement alone cannot guarantee sustained reductions in oil prices. The market’s direction will depend on actual deliveries and whether geopolitical disruptions continue to outweigh the benefits of increased availability.

The Human Body rebuilt: how 3D printing is changing the future of surgery and transplants

IMF raises 2026 global growth forecast to 3.1%

By
Boluwatife Oshadiya
-
IMF Calls On Countries To Prevent Second Cold War

By Boluwatife Oshadiya | October 13, 2026

Key Points

  • The International Monetary Fund raised its 2026 global growth forecast to 3.1%, up from its July projection of 3.0%, supported by investment in artificial intelligence
  • The fund projects global growth of 3.4% in 2027 but warns that energy disruptions, inflation and rising public debt threaten the outlook
  • Oil-importing economies and countries with limited exposure to the artificial intelligence supply chain face higher costs and weaker growth prospects

Main Story

The International Monetary Fund (IMF) has raised its global economic growth forecast for 2026 to 3.1%, citing sustained investment in artificial intelligence (AI), even as geopolitical tensions and energy supply disruptions threaten economic stability.

In its October 2026 World Economic Outlook, titled Resilience under Strain, Urgent Choices, the fund projects global growth to slow from 3.5% in 2025 to 3.1% in 2026 before improving to 3.4% in 2027. The 2026 estimate is 0.1 percentage point above the IMF’s July projection of 3.0%.

The outlook, however, reveals an increasingly uneven distribution of economic growth. According to the IMF, just 32 economies are expected to account for 95% of global growth, compared with 54 economies in April. Approximately 47% of economies have had their growth forecasts downgraded.

The fund attributed the divergence partly to countries’ exposure to energy supply disruptions linked to the Middle East conflict and their participation in AI-related production and supply chains. Economies supplying AI hardware and those less exposed to energy shocks are performing relatively better, while many low-income, energy-importing countries face higher import bills, currency pressures and declining real incomes.

The IMF’s baseline projection assumes the Strait of Hormuz will reopen in March 2027, with conditions broadly returning to pre-war levels by October 2027. Before the conflict, the waterway carried approximately a quarter of global seaborne oil trade.

The fund estimates that alternative supplies, increased production elsewhere and withdrawals from inventories have limited the conflict’s impact on global growth. Without these responses, the closure of the strait could have reduced 2026 growth by 0.9 percentage points; the estimated impact has instead been contained to approximately 0.3 percentage points.

Inflation remains another concern. Global headline inflation is projected to rise from 4.1% in 2025 to 4.7% in 2026 before easing to 4.1% in 2027. Oil prices are forecast to average $95.74 per barrel in 2026, approximately 41% above the 2025 average, before declining to $87.39 in 2027.

What’s Being Said

The IMF’s assessment indicates that AI-related investment is supporting global activity, but the benefits are concentrated among economies with stronger links to the technology supply chain.

Independent reporting by Reuters highlights additional risks from a possible correction in AI investment, the Middle East conflict and rising debt. These risks could weaken growth further if technology spending disappoints or energy prices remain elevated. Read the Reuters report.

What’s Next

  • Energy supply: The IMF’s baseline outlook depends on the Strait of Hormuz reopening in March 2027 and conditions normalising by October 2027.
  • Inflation outlook: Global headline inflation is projected to ease to 4.1% in 2027, although persistent energy disruptions could undermine that forecast.
  • Economic policy: Governments and central banks will need to monitor energy costs, public debt and the sustainability of AI-related investment as they respond to the uneven outlook.

Bottom Line

The Bottom Line: The IMF’s higher growth forecast signals resilience, not a broadly shared recovery. For developing economies, including Nigeria, the combination of energy-market volatility, inflation and uneven access to technology-driven investment makes domestic economic stability and diversification particularly important.

The Human Body rebuilt: how 3D printing is changing the future of surgery and transplants

Money market rates ease as system liquidity tops ₦4 trillion

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya | October 13, 2026

Key Points

  • Banking system liquidity increases by 8.99% to approximately ₦4.04 trillion on Monday
  • Overnight and open repo rates decline to 20.72% and 20.00%, respectively
  • ₦2.41 trillion in open market operations (OMO) bills matures on Tuesday, with a possible CBN liquidity mop-up in focus

Main Story

Money market rates eased on Monday as banking system liquidity rose by 8.99% to approximately ₦4.04 trillion from ₦3.71 trillion, according to market data from AIICO Capital Limited.

The increase came ahead of ₦2.41 trillion in open market operations (OMO) bill maturities due on Tuesday, which market participants expect to provide an additional liquidity boost. Analysts are monitoring whether the Central Bank of Nigeria (CBN) will conduct an OMO auction to absorb excess funds from the financial system.

The overnight rate declined by 13 basis points to 20.72% from 20.85%, while the open repo rate fell by 40 basis points to 20.00% from 20.40%. The Nigerian Overnight Financing Rate (NOFR) remained unchanged at 20.00%.

The easing in rates coincided with stronger liquidity conditions, suggesting that immediate funding pressures in the interbank market had moderated during the reported session.

However, the outlook for money market rates will depend partly on the CBN’s response to the expected inflows. An OMO auction could withdraw some of the surplus funds, with the resulting liquidity position influencing interbank trading conditions.

Herwood Securities Limited said in its market commentary that the impact of the expected liquidity inflow would depend on the outcome of the anticipated OMO auction. The firm also indicated that interbank rates were expected to remain around prevailing levels as market participants assessed liquidity conditions and the auction outcome.

The developments place the central bank’s liquidity management operations at the centre of the near-term money market outlook. The available market update does not confirm whether the CBN has conducted or announced an OMO auction in response to the projected inflows.

The Issues

Liquidity levels are an important determinant of short-term money market conditions. An increase in available banking system funds can ease immediate interbank funding pressures, while central bank operations can absorb excess liquidity and influence the direction of rates.

The expected ₦2.41 trillion OMO maturity is significant because the resulting funds could add to the surplus already recorded in the banking system. The extent to which that liquidity remains available to banks will depend on subsequent monetary operations and market conditions.

The decline in overnight and open repo rates indicates easing in those segments of the market, but the unchanged NOFR shows that the reported rates did not move uniformly. The available figures do not establish a sustained change in the broader monetary policy stance.

What’s Being Said

AIICO Capital Limited’s market data showed that system liquidity increased from ₦3.71 trillion to approximately ₦4.04 trillion on Monday, alongside declines in the overnight and open repo rates.

Herwood Securities Limited said the effect of the expected OMO maturity would depend on the outcome of the anticipated auction. The firm expects interbank rates to remain around current levels while participants monitor liquidity and the central bank’s operations.

The supplied market commentary does not contain a direct quotation from the CBN confirming its next move. The anticipated liquidity mop-up should therefore be treated as a market expectation, not a confirmed central bank decision.

What’s Next

  • Tuesday, October 13, 2026: The scheduled ₦2.41 trillion OMO bill maturity is expected to add liquidity to the financial system.
  • Next CBN liquidity operation: Market participants will monitor whether the central bank announces an OMO auction to absorb excess funds.
  • Subsequent interbank trading: Overnight, open repo and NOFR movements will help show how the market responds to the maturity and any liquidity-management operation.

Bottom Line

The Bottom Line: The rise in system liquidity has eased pressure on key money market rates, but the direction of borrowing costs will depend on how much of the incoming cash remains in the banking system. The CBN’s next liquidity-management decision will be central to determining whether the current easing persists.

Microsoft bets on homegrown AI chip to challenge Nvidia

DMO targets ₦5.8 trillion from fourth-quarter bond auctions

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya | October 13, 2026

Key Points

  • Targets ₦5.8 trillion through three Federal Government bond auctions scheduled for October, November and December 2026
  • Offers reopened bonds maturing in February 2034, September 2036 and June 2038
  • Sees benchmark bond yields rise by 16 basis points to 16.23% as secondary-market trading remains bearish

Main Story

The Debt Management Office (DMO) plans to raise ₦5.8 trillion through Federal Government of Nigeria (FGN) bond auctions in the fourth quarter of 2026, with the proceeds expected to help finance the federal budget deficit.

According to the DMO’s auction calendar, the government will conduct three primary-market auctions on October 19, November 16 and December 14. The offers will feature reopened bonds maturing in February 2034, September 2036 and June 2038.

The proposed target represents an increase from the ₦3.3 trillion allotted to investors in the preceding quarter, according to the figures provided for the bond market update.

Meanwhile, activity in the secondary market remained bearish, with the average benchmark yield increasing by 16 basis points to 16.23%, according to market data cited by AIICO Capital Limited. The movement reflects higher yields across several maturities, while longer-dated securities recorded a more mixed performance.

Yields on three-year FGN bonds increased by 26 basis points to 16.61%, while five-year yields rose by 20 basis points to 16.70%. Seven-year bond yields recorded the sharpest increase among the reported maturities, climbing by 41 basis points to 16.76%.

The ten-year bond yield remained unchanged at 16.43%, while the twenty-year yield closed at 14.69%, AIICO Capital Limited said in an investor note released on Monday.

Year to date, yields have increased by between 30 and 65 basis points across the yield curve, according to the market update. The figures indicate that borrowing costs in the secondary market remain elevated as the government prepares to offer additional securities in the final quarter of the year.

The planned auctions will provide investors with new opportunities to acquire federal government debt while enabling the government to access funding through the domestic debt market.

The Issues

The planned borrowing comes against a backdrop of elevated bond yields across several maturities. Higher yields can increase the cost of issuing new debt, depending on auction demand and the rates investors require to purchase government securities.

The difference between short- and long-dated yields also matters for investors assessing the relative attractiveness of government securities. While three-, five- and seven-year yields increased during the reported period, the ten-year yield remained unchanged and the twenty-year yield closed lower than the shorter-dated securities.

The ₦5.8 trillion target will therefore be watched alongside investor demand, auction pricing and developments in the secondary market. However, the available market update does not establish that rising secondary-market yields will necessarily translate into a specific borrowing cost at the forthcoming auctions.

What’s Being Said

AIICO Capital Limited reported that the average benchmark yield rose by 16 basis points to 16.23%, with increases across the three-, five- and seven-year segments of the yield curve.

The investment firm also reported that the ten-year yield held at 16.43%, while the twenty-year bond yield closed at 14.69%.

The DMO’s published auction calendar sets out the three scheduled issuance dates and the bond maturities to be offered. The supplied information does not include a direct quotation from the DMO or an independent analyst’s assessment of the planned issuance.

What’s Next

  • October 19, 2026: The first scheduled fourth-quarter bond auction
  • November 16, 2026: The second scheduled auction
  • December 14, 2026: The third scheduled auction

Investor demand, auction allotments and the yields accepted by the government will provide further evidence of market appetite for the planned issuance.

Bottom Line

The Bottom Line: The DMO’s ₦5.8 trillion fourth-quarter target will test the government’s ability to raise substantial domestic funding while bond yields remain elevated. Auction demand and accepted yields will be critical indicators of financing conditions as the government approaches the end of 2026.

Microsoft bets on homegrown AI chip to challenge Nvidia

NDLEA has transformed Nigeria’s drug control — Marwa at UNGA

By
Annette Ikponmwonba
-
NDLEA Seizes Drugs Concealed In Tomato Paste Containers

By Annette Ikponmwonba | October 13, 2026

Key Points

· NDLEA Chairman Brig. Gen. Mohamed Buba Marwa (Rtd) says the agency has delivered measurable results and transformed Nigeria’s drug control

· He spoke at the 81st Session of the UN General Assembly in New York, represented by the agency’s Secretary, Shadrach Haruna

· Between January 2025 and September 2026, the NDLEA recorded 38,242 arrests, seized over 5.8 million kilograms of illicit drugs valued above ₦2.5 trillion, and secured 6,232 convictions

· More than 16,303 people received counselling, treatment or rehabilitation over the same period

· Marwa highlighted the Alternative Development pilot in three Ondo State communities, helping residents move from illicit cannabis cultivation to legitimate farming

· He urged stronger international intelligence-sharing so criminal networks cannot exploit gaps between jurisdictions

Main Story

The Chairman of the National Drug Law Enforcement Agency, Brig. Gen. Mohamed Buba Marwa (Rtd), has said the agency has delivered measurable results and transformed Nigeria’s drug control. He made this known on Monday at the ongoing 81st Session of the United Nations General Assembly in New York, which carries the theme “Restoring Trust, Managing Transformation: A United Nations that Delivers for All.”

Represented by the agency’s Secretary, Shadrach Haruna, Marwa said the NDLEA has evolved from a predominantly enforcement-focused organisation into an integrated, intelligence-led and people-centred body. It now brings together law enforcement, public health, technology, financial investigation, alternative livelihoods and international cooperation.

According to him, between January 2025 and September 2026, the NDLEA recorded 38,242 arrests, seized more than 5.8 million kilograms of illicit drugs valued at over ₦2.5 trillion, and secured 6,232 convictions. Over the same period, more than 16,303 people received counselling, treatment or rehabilitation, while prevention and sensitisation activities reached millions of Nigerians.

The Issues

Marwa said the shift in approach was driven by a changing threat. Trafficking networks have grown more sophisticated, technology has opened new channels for illicit activity, and criminal proceeds move rapidly across borders, while drug dependence continues to affect individuals, families and communities.

This points to a move away from measuring success by arrests and seizures alone. Nigeria’s emphasis is increasingly on dismantling major traffickers, organised structures and the financial networks behind the drug trade, which is a harder and slower task than counting seizures, The Alternative Development initiative also shows the agency trying to address root causes. By supporting residents of three Ondo State communities to shift from illicit cannabis cultivation to legitimate agriculture, it tackles the economic pressures that keep people in the trade, though the programme is still at pilot stage.

What’s Being Said

Marwa said Nigeria broadened its focus “from drugs and offenders alone to the criminal networks, illicit profits and vulnerabilities that sustain the drug economy., He also cited the NDLEA’s Drug Integrity Test and Visa E-Administration System as examples of how digital tools can improve accessibility, efficiency, transparency and integrity in public administration, He told the Assembly that Nigeria is ready to share lessons, learn from others, and work with Member States, the United Nations and international partners to move from commitment to implementation, from cooperation to collective action, and from transformation to measurable delivery.

What’s Next

The reforms are being consolidated in the National Drug Control Master Plan 2026 to 2030, which covers six pillars: drug supply reduction, drug demand reduction, access to controlled medicines, governance and coordination, alternative development, and disruption of the illicit drug economy, Attention will turn to whether the Alternative Development pilot in Ondo State is expanded to more communities, and whether Marwa’s call for stronger international intelligence-sharing leads to concrete cooperation with other countries.

Bottom Line

Marwa used the UN General Assembly to present the NDLEA as a transformed, intelligence-led agency backed by strong arrest, seizure and conviction figures, while pushing for deeper international cooperation and a shift in focus toward the networks and finances behind the drug trade.

Changes have not been easy – Seyi Tinubu admits hardship

Changes have not been easy – Seyi Tinubu admits hardship

By
Annette Ikponmwonba
-
Nigeria Must Make Difficult Changes - Tinubu

By Annette Ikponmwonba | October 13, 2026

Key Points

· Seyi Tinubu, son of President Bola Tinubu, has acknowledged the hardship Nigerians are facing under the administration’s reforms

· He spoke on Monday at the inaugural Seyi Tinubu Colloquium at Eko Hotel and Suites in Lagos

· He named the removal of the petrol subsidy, foreign exchange reforms and the tax overhaul as the key policies shaping the economy

· He said families’ budgets have been stretched and that the pain was immediate while lasting improvement is harder to feel

· He argued that every generation inherits a country with challenges and has a duty to make decisions that benefit those who come after

· He said he supports his father’s reforms and urged young people to take part in leadership

Main Story

Seyi Tinubu, son of President Bola Tinubu, has acknowledged the hardship Nigerians are facing. He spoke on Monday during the inaugural Seyi Tinubu Colloquium held at Eko Hotel and Suites in Lagos, He said every generation inherits a country with existing challenges but has a duty to make decisions that improve the lives of those coming after it. He noted that the administration of President Tinubu had chosen to confront Nigeria’s problems, arguing that its decisions were aimed at creating a better future for younger Nigerians. “President Bola Ahmed Tinubu did not choose Nigeria, did not choose the Nigeria inherited from his predecessors, yet his administration chose to confront the challenges of our nation, not for itself alone, but for the benefit of those who come next,” he said.

He identified the removal of the petrol subsidy, changes to the foreign exchange system and the overhaul of the tax structure as the key policies shaping the country’s economic direction. “Removing the fuel subsidy, reforming the foreign exchange system and overhauling taxation are decisions about how Nigeria earns, spends and creates opportunities,” he said.

The Issues

Seyi’s admission that the reforms have been painful is notable, because the cost of living remains one of the sharpest lines of attack from the opposition. By conceding that families’ budgets have been stretched, he is trying to meet that criticism directly while arguing that the benefits will arrive later and are harder to see in the short term.

The framing also shows how the administration is positioning its policies as an investment in the future rather than a source of immediate relief. The argument that a road built today serves children still growing up asks Nigerians to accept present sacrifice for long-term gain, a case that is difficult to make to households struggling now, There is also a political dimension. Seyi is the president’s son, and his call for young people to participate in leadership, alongside his open support for the reforms, will inevitably be read against the backdrop of the 2027 election cycle and questions about his own public profile.

What’s Being Said

Seyi acknowledged the human cost of the policies plainly. “Changes have not been easy. Families whose budgets have been stretched, the pain was immediate, the lasting improvement more difficult to feel and touch, yet they are no less real,” he said, He tied his support for the reforms to generational responsibility. “I support President Bola Ahmed Tinubu’s reforms because we will inherit a future built by leaders of today,” he said, adding that young Nigerians have a responsibility to participate in leadership so that what is decided today benefits everyone tomorrow.

What’s Next

Attention will turn to how the opposition and ordinary Nigerians respond to his remarks, particularly his claim that lasting improvement from the reforms is real even if hard to feel, The colloquium is described as inaugural, so it may become a recurring platform for Seyi to engage young Nigerians on policy and leadership, and his public role will likely draw more scrutiny as the election season builds.

Bottom Line

Seyi Tinubu has conceded that the Tinubu administration’s reforms have caused real hardship while insisting they are laying the foundation for a better future, a message that asks Nigerians to be patient even as the pain of the changes remains immediate.

MTN fellows explore huawei’s 5G infrastructure

Arise drops Anthony Kila over forgery claim

By
Annette Ikponmwonba
-
Arise Fashion Week

By Annette Ikponmwonba | October 13, 2026

Key Points

· ARISE News has suspended political analyst Anthony Kila from all its platforms over allegations that he falsified his academic credentials

· The decision followed a Premium Times investigation that questioned his professorial title and reported discrepancies in his claimed bachelor’s, master’s, doctoral and professorial qualifications

· ARISE says it contacted Kila on October 3, 2026, and he asked for more time to respond but had not done so 10 days later

· The network says it will no longer feature him on any of its platforms, now or in the future

· ARISE says it was unaware of the allegations when Kila appeared on its programmes as a freelance political analyst

· The network stressed that it takes matters of credibility and integrity extremely seriously

Main Story

ARISE News has announced the immediate suspension of political analyst Anthony Kila from its platforms following allegations that he falsified his academic credentials. The television network said the decision followed an investigative report by Premium Times, which questioned Kila’s claim to a professorial title and subsequently reported discrepancies in his claimed bachelor’s, master’s, doctoral and professorial qualifications.

In a statement issued by its Editorial Board on Tuesday on its official X handle, ARISE News said it contacted Kila on October 3, 2026, to seek his response to the allegations. He asked for more time to reply, but the network said he had yet to respond 10 days after the allegations were brought to his attention.

The organisation said it had taken note of the findings of the Premium Times investigation and would no longer feature Kila on any of its platforms, either immediately or in the future. “Following claims that Anthony Kila falsified his entire academic credentials, we contacted Mr Kila on 03 October, 2026 with the allegations. He asked for more time to respond to the claims. He has not responded 10 days after,” the statement read.

The Issues

The case raises serious questions about how media organisations vet the credentials of the analysts and commentators they put on air. Experts who appear on television lend their audiences a sense of authority, and a professorial title carries particular weight. If the allegations prove accurate, they would suggest that claimed qualifications can go unchecked for years, even on prominent platforms.

It also puts the spotlight on accountability. ARISE said the allegations became more serious with time, making it untenable for Kila to remain on its platforms. The network drew a clear line between its own position and the claims, noting that it was unaware of them when he appeared as a freelance analyst. That distinction matters for its credibility, but it also invites scrutiny over what checks are normally applied to freelance contributors.

Kila has not publicly answered the allegations, at least according to the network’s account, so the claims remain allegations rather than established findings. The outcome of any response from him, or any action by the institutions named in the Premium Times report, will shape how the matter is ultimately judged.

What’s Being Said

ARISE News framed its decision as a matter of protecting its integrity. “ARISE News was unaware of these allegations at the time Anthony Kila appeared on our platform and as we take matters of credibility and integrity extremely seriously,” the statement said, The network also pointed to its own efforts to hear Kila’s side, stressing that it reached out on October 3 and gave him 10 days without receiving a response. Premium Times, whose investigation triggered the decision, questioned his professorial title and reported discrepancies across all his claimed degrees, No statement from Kila was included in the report.

What’s Next

Attention will turn to whether Kila responds publicly to the Premium Times findings and the ARISE decision. Other media organisations and institutions that have featured or engaged him may also review their positions, The case may prompt wider conversation about credential verification for commentators and analysts, and whether other broadcasters will tighten their vetting processes.

Bottom Line

ARISE News has cut ties with Anthony Kila after a Premium Times investigation questioned his academic credentials and he failed to respond within 10 days, a move that underlines how seriously media houses now treat questions of credibility, even as the allegations against him remain unanswered publicly.

MTN fellows explore huawei’s 5G infrastructure

Power plants record zero output amid grid instability

By
Annette Ikponmwonba
-
Power Plants
9 Power Plants Fail to Generate Power Due to Gas Constraint, Others

By Annette Ikponmwonba | October 13, 2026

Key Points

· At least three power plants, Alaoji 1, Ibom Power 1 and Rivers 1, generated no electricity in September, according to NERC data

· The grid recorded average available capacity of 5,038MW and average hourly generation of 4,089MW, a system-wide load factor of 81 per cent

· Compared with August, available capacity rose 5.89 per cent, but average generation fell 0.30 per cent and load factor dropped 5.04 per cent

· The grid operated outside prescribed frequency limits, with lower frequency at 49.43Hz and upper frequency at 50.69Hz

· Voltage also breached limits, with lower voltage at 304.90kV and upper voltage at 350.28kV

· Nigeria has about 13,000MW of installed capacity, but generation hovers between 4,000MW and 5,000MW

Main Story

At least three power plants generated no electricity in September as Nigeria’s national grid continued to record frequency and voltage breaches, according to the latest data from the Nigerian Electricity Regulatory Commission. Alaoji 1, Ibom Power 1 and Rivers 1 recorded zero megawatts in average hourly generation and a load factor of zero per cent, with their available capacities also listed as zero.

The NERC factsheet showed the grid recorded an average available capacity of 5,038MW in September, while average hourly generation stood at 4,089MW, giving a system-wide load factor of 81 per cent. Compared with August 2026, available capacity increased by 5.89 per cent, but average hourly generation declined by 0.30 per cent and the load factor fell by 5.04 per cent.

Other plants operated at low levels. Afam 1 generated an average of 0.72MW from 1.33MW available, while Geregu 2 produced 1MW from 2MW available. Trans Amadi 1 and Dadin-Kowa 1 recorded load factors of 100 per cent or above after the system operator directed them to generate beyond their declared availability to support grid stability. Among larger plants, Kainji 1 recorded a 98 per cent load factor, Egbin 1 and Afam 2 each recorded 94 per cent, Ihovbor 2 achieved 91 per cent, and Zungeru 1 used 61 per cent of its capacity, generating 358MW out of 587MW.

The Issues

The data shows a grid that is not only underperforming but unstable. The average lower frequency of 49.43Hz fell below the prescribed minimum of 49.75Hz, while the average upper frequency of 50.69Hz exceeded the 50.25Hz maximum. Voltage was equally out of range, with the lower average of 304.90kV below the 313.50kV minimum and the upper average of 350.28kV above the 346.50kV ceiling. Persistent breaches like these raise the risk of disturbances and collapses.

The figures also show that more available capacity did not translate into more electricity. Available capacity rose from August, yet generation slipped, suggesting constraints beyond the plants themselves, There is also a wide gap between installed and usable capacity. Egbin, for example, has an installed capacity of 1,320MW but declared only 429MW in September and generated 402MW. With about 13,000MW installed nationwide and output stuck between 4,000MW and 5,000MW, much of the country’s generating potential remains idle.

What’s Being Said

The report is based on NERC’s factsheet on the operational performance of power plants, and the regulator’s data speaks plainly about uneven performance across the fleet. Some units ran close to or above their declared capacity, while others recorded low output or no available capacity at all.

The data also notes that Trans Amadi 1 and Dadin Kowa 1 exceeded their declared steady-state availability at the system operator’s direction to support grid stability, indicating the operator is leaning on certain plants to manage the strain, No comments from plant operators or government officials were included in the report.

What’s Next

Attention will turn to NERC’s October figures to see whether frequency and voltage deviations ease and whether the three idle plants return to service. Stakeholders are likely to press for explanations on why Alaoji 1, Ibom Power 1 and Rivers 1 declared zero capacity, The wider question is whether available capacity can be raised closer to installed capacity, and whether grid infrastructure can be strengthened enough to carry more generation without breaching operating limits.

Bottom Line

Nigeria’s grid ended September with idle plants, declining output despite higher availability, and frequency and voltage outside safe limits, underlining how far actual generation of 4,000MW to 5,000MW remains from the roughly 13,000MW of installed capacity.

Interswitch TechConnect 6.0 drives cross-country conversation on future of financial infrastructure

MTN Fellows explore Huawei’s 5G infrastructure

By
Annette Ikponmwonba
-

By Annette Ikponmwonba | October 13, 2026

Key Points

· Fellows of the MTN Media Innovation Programme Cohort 5 toured Huawei facilities in Lagos to learn about 5G, smart city and network management technologies

· The visit was organised by MTN Nigeria in collaboration with Huawei as part of the fellows’ learning programme at Pan-Atlantic University’s School of Media and Communication

· At the 5G Innovation Hub, the journalists saw technologies spanning smart cities, power systems, cloud services, routers and antenna designs

· Huawei’s Service Centre houses about 850 Network Operations Centre engineers who monitor networks around the clock across four shifts

· The tour also showcased Huawei Metavision 3D Video, which converts 2D footage into 3D visuals

· A PUNCH business reporter noted that 5G adoption across Africa remains likely below 10 per cent due to high deployment costs and limited returns

Main Story

Fellows of the MTN Media Innovation Programme Cohort 5 examined 5G, smart city and network management technologies during a tour of Huawei facilities in Lagos, gaining insight into the infrastructure supporting Nigeria’s growing digital economy. The visit was organised by MTN Nigeria in collaboration with Huawei, as part of the fellows’ immersive learning programme at the School of Media and Communication, Pan-Atlantic University.

At Huawei’s 5G Innovation Hub, the journalists were introduced to technologies spanning smart cities, power systems, cloud services, routers and antenna designs, offering a look at how telecommunications infrastructure is evolving beyond traditional voice and data services. Fellow Tolulope Ajibade described the experience as mind-blowing, pointing to the security infrastructure, security profiling and smart city solutions on display.

The fellows also visited Huawei’s Service Centre, where they received a briefing on network management and the systems required to maintain telecommunications infrastructure. The centre houses about 850 Network Operations Centre engineers supporting organisations across telecommunications, finance, power, transport and public services, working around the clock across four shifts to monitor networks, identify faults, assign resources and coordinate resolutions. It also has a dedicated DevOps team that customises monitoring systems for individual clients, and is ISO 27001 certified.

The Issues

The tour comes as Nigerian operators expand their 5G networks and technology providers build new applications around high-speed connectivity, including enterprise services, cloud computing, automation and smart-city solutions. But the gap between what the technology can do and who can actually use it remains wide.

PUNCH business reporter Justice Okamgba noted that 5G adoption across Africa is likely below 10 per cent. The cost of deploying the infrastructure is monumental while returns are not yet strong enough to encourage telcos to prioritise widespread rollout, which tends to push operators toward high-value urban areas and leaves the connectivity gap in the hinterlands unaddressed, Device affordability is the other barrier. Few people own 5G-enabled devices, and without affordable handsets, expanded coverage alone will not translate into widespread adoption.

What’s Being Said

Huawei’s Director of MTN Account Solutions, Ma Tianyu, said the company’s goal is to bridge the gap between global innovation and local demand by tailoring technology to Nigeria’s specific challenges. He said the partnership with MTN is helping bring technology solutions to Nigerians and support the development of digital experiences.

Fellow Ijeoma Odia said the tour was enlightening and educational, adding that she had not realised how much Huawei is doing for the future of telecoms and infrastructure in Nigeria, Africa and beyond. She also highlighted Huawei’s work on lower-cost devices for consumers who cannot afford smartphones capable of supporting newer networks, saying such efforts could expand participation in the digital economy, Okamgba argued that affordable 5G devices are as important as network coverage if adoption is to grow.

What’s Next

The visit is part of MTN-MIP’s broader experiential learning programme, which exposes media professionals to developments across telecommunications, technology, business and the wider digital economy, so similar industry visits can be expected for the cohort, More broadly, attention will turn to whether operators and vendors can bring down the cost of 5G deployment and devices enough to move adoption beyond urban centres, and how far lower-cost devices like those Huawei is developing can close the gap.

Bottom Line

The Huawei tour gave Nigerian journalists a close look at the technology behind 5G and network operations, but as the PUNCH reporter’s comments underline, high deployment costs and expensive devices mean the real test is making that technology accessible beyond Nigeria’s major cities.

Interswitch TechConnect 6.0 drives cross-country conversation on future of financial infrastructure

Ododo warns Kogi youths against electoral violence for financial rewards

By
Emmanuella Opara
-

By Emmanuella Opara Isioma | October 12th 2026

KEY POINTS

  • -Kogi State Governor Ahmed Ododo has warned youths against electoral violence and political thuggery.
  • -He urged young people to reject financial inducements to harm others during elections.
  • -The governor said no political ambition justified taking another person’s life.
  • -He encouraged youths to pursue productive opportunities and remain confident in their abilities.

MAIN STORY

Kogi State Governor Ahmed Ododo has urged young people in the state to reject financial inducements to engage in electoral violence, warning them against sacrificing their lives and freedom for the political interests of others.

Ododo gave the warning on Monday in Lokoja while receiving a delegation from Lokoja Ward A of the All Progressives Congress (APC), led by Nda Aaron. The delegation visited to appreciate benefits the ward had received under the party’s leadership.

The governor said he would not encourage youths to take up arms for political purposes, stressing that political ambitions should not come at the cost of human lives.

“If I ask you to come and collect guns to use for election, tell me to give them to my biological children,” he said.

He urged young people to resist attempts to recruit them into violence and to consider the long-term consequences of actions taken in exchange for money or other inducements.

Ododo also called on the youths to recognise their potential and avoid allowing their backgrounds to limit their aspirations. Recalling his upbringing in a remote village, he said his journey to becoming governor showed that young people could achieve greater things with determination and support.

“If I can stand here, you can even go higher.

“Most of you are lucky to have been born in the city, while I was born in a very small, remote village.

“With God supporting you, you can achieve even greater things,” he said.

The governor further challenged the youths to consider the value of human life before accepting offers to participate in political violence.

“What are we looking for that will make us kill our fellow human beings? How can you take the life of another person?” he asked.

He appealed to them to embrace peace, tolerance and respect for human dignity, urging them to channel their energy into productive activities and constructive participation in the political process.

Ododo warned that violence could have lasting consequences for individuals, families and communities, while encouraging young people to prioritise their future over immediate financial gains.

The delegation commended the governor for what it described as inclusive governance and the benefits of democracy in the area.

THE ISSUES

The governor’s warning focuses on the risks of political thuggery and the use of financial inducements to draw young people into electoral violence. His appeal places responsibility on youths to reject such offers and protect their lives and future prospects.

WHAT’S BEING SAID

  • “If I ask you to come and collect guns to use for election, tell me to give them to my biological children,” Ododo said.
  • “What are we looking for that will make us kill our fellow human beings? How can you take the life of another person?” he asked.

WHAT’S NEXT

Ododo has urged youths to avoid political violence and participate constructively in the political process. The report does not outline any specific measures or programmes to support the appeal.

BOTTOM LINE

Ododo has cautioned Kogi youths against accepting money or other inducements to engage in electoral violence, urging them to protect their lives, respect human dignity and pursue opportunities that support their future.

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