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Nigeria must diversify renewable energy to power digital growth, says expert

By
Kehinde Victor
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Key Points

  • Ms. Darshana Deka, Conference Producer at IoT West Africa, stated that Nigeria must move “beyond its current reliance on solar energy” to explore a broader range of renewable options.
  • The power market in Nigeria is described as having “massive potential” but is not yet fully optimized to support the expansion of digital infrastructure.
  • Expanding energy sources is seen as critical for meeting the high power demands of data centers and other “critical infrastructure”.
  • There is a significant need for increased local data center capacity to ensure “data sovereignty” and keep Nigerian data within the country.
  • The IoT West Africa platform aims to demonstrate the convergence of IoT, data centers, power, and water as the “main accelerators of Nigeria’s digital economy”.

Main Story

Nigeria’s digital economy requires a more diversified energy strategy to reach its full potential, according to Ms. Darshana Deka of IoT West Africa.

In an interview with the News Agency of Nigeria, Deka emphasized that while the country has made progress with solar energy, it must now “look at what are the other avenues” in the renewable sector to sustain its growing digital ecosystem.

She argued that the power market is currently under-utilized and that identifying alternative sustainable energy sources is essential to support the heavy electricity requirements of modern data centers.

Deka further explained that the vision behind the IoT West Africa platform is to showcase how sectors like energy, water, and IoT are “interdependent” and should “not operate in isolation”.

By bringing these ecosystems together, the initiative has highlighted the rise of critical infrastructure in Nigeria, which Deka defined as a “convergence of physical and digital systems”.

Additionally, she noted that while investments in data centers are increasing, Nigeria still needs more local capacity to maintain “data sovereignty,” asserting that the country should “control its data” rather than relying on other nations for storage and safety.

The Issues

  • The current heavy focus on “solar energy” may not be sufficient on its own to power a rapidly expanding digital economy.
  • Experts see significant “gaps in the power market” rather than the IoT market itself, which hinders full optimization of the sector.
  • There is a strategic concern about “giving out a country’s data to another country” due to a lack of sufficient local data center infrastructure.
  • Historically, the energy, data center, and IoT sectors have operated with “clear differences,” preventing the collaboration needed for “critical infrastructure”.

What’s Being Said

  • “Nigeria is still continuing with solar, so I think we need to move beyond solar and look at what are the other avenues.” — Ms. Darshana Deka
  • “Nigeria will want to control its data. You don’t want to give out a country’s data to another country to keep it safe.” — Ms. Darshana Deka
  • “Critical infrastructure today is a convergence of physical and digital systems, and we have seen the rise of such facilities in Nigeria.” — Ms. Darshana Deka

What’s Next

  • Stakeholders are expected to explore a wider variety of “renewable and sustainable energy sources” beyond traditional solar installations.
  • The industry will likely push for “more local data centres” to accommodate flowing investments and address data sovereignty concerns.
  • Collaboration is expected to increase between “industry leaders, innovators, policymakers and investors” to shape the country’s 2030 economic goals.
  • Discussions from platforms like IoT West Africa are anticipated to continue “materialising into action” and tangible infrastructure projects.

Bottom Line

Energy Diversification. To secure its digital future and maintain data sovereignty, Nigeria must bridge power market gaps and expand its renewable energy portfolio beyond solar to support its burgeoning data center ecosystem.

PDP BoT summons emergency NEC meeting following Supreme Court ruling

PDP BoT summons emergency NEC meeting following Supreme Court ruling

By
Kehinde Victor
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2023: PDP Cancels All Primaries In Ebonyi State

Key Points

  • The Peoples Democratic Party (PDP) Board of Trustees, led by Sen. Adolphus Wabara, has convened an emergency National Executive Committee (NEC) meeting for Monday.
  • Sen. Wabara stated the decision was “necessary to prevent a leadership vacuum” after the Supreme Court nullified the 2025 national convention.
  • National Publicity Secretary Jungudo Mohammed dismissed claims of a vacuum, asserting that “Abdulrahman Mohammed remained the party’s legitimate national chairman”.
  • The BoT claims it secured “the required two-thirds support of NEC members” and has formally notified the Independent National Electoral Commission (INEC).
  • Mohammed challenged the authority of the BoT, stating the only “legitimate BoT leadership is that headed by Mao Ohuabunwa”.

Main Story

The Peoples Democratic Party (PDP) is facing an internal leadership crisis following a Supreme Court judgment delivered on Thursday.

Sen. Adolphus Wabara, leading a faction of the Board of Trustees, announced on Sunday that the board had assumed administrative leadership to prevent “immediate leadership uncertainty”.

Wabara explained that the apex court nullified the 2025 national convention and affirmed the suspensions of officials including Samuel Anyanwu, Kamaldeen Ajibade, and Umar Bature.

He insisted that the board acted under the “provisions of the party constitution, as amended in 2017” and secured the necessary consent from NEC members to schedule the 103rd NEC meeting for Monday, May 4.

However, this move was immediately countered by the National Publicity Secretary, Jungudo Mohammed, who argued that “there has never been any vacuum or absence of leadership in the PDP”.

Mohammed maintained that the Supreme Court ruling addressed only the “legality of the Ibadan convention” and did not affect the current National Working Committee or party administration.

He further questioned Wabara’s standing, claiming his “tenure as BoT chairman had already expired” and identifying Mao Ohuabunwa as the legitimate head of the board. Mohammed concluded that the party constitution provides “no authority to the BoT to assume NWC powers”.

The Issues

  • The Supreme Court “nullified the 2025 national convention,” leading to conflicting claims over which leadership body currently holds power.
  • Sen. Wabara and Jungudo Mohammed disagree on whether a “leadership vacuum” actually exists within the party administration.
  • A factional split has emerged within the Board of Trustees, with both “Adolphus Wabara” and “Mao Ohuabunwa” being named as the legitimate chairman.
  • There is a constitutional dispute regarding whether the BoT has the authority to “assume NWC powers” or convene NEC meetings without the NWC’s involvement.
  • The legal status of the current National Working Committee is in question following the “nullification of the convention” that produced it.

What’s Being Said

  • “The decision became necessary to prevent a leadership vacuum following recent developments within the party.” — Sen. Adolphus Wabara
  • “INEC has been duly notified of the 103rd NEC meeting scheduled for Monday, May 4.” — Sen. Adolphus Wabara
  • “There has never been any vacuum or absence of leadership in the PDP.” — Jungudo Mohammed
  • “The only legitimate BoT leadership is that headed by Mao Ohuabunwa.” — Jungudo Mohammed

What’s Next

  • The emergency 103rd NEC meeting is scheduled to be held on “Monday, May 4”.
  • Members are urged to approach the upcoming session with a commitment to “unity, reconciliation, and rebuilding the party”.
  • The party must resolve the conflicting claims regarding the “legitimate BoT leadership” between the Wabara and Ohuabunwa factions.
  • INEC’s acknowledgment of the “formal notification” will likely determine the legal standing of the scheduled NEC meeting.

Bottom Line

Leadership Tussle. The PDP has fractured into opposing factions as the Board of Trustees attempts to seize administrative control following a Supreme Court ruling that nullified the party’s recent national convention.

Labour Party unveils 2026 primary election timetable with inclusive concessions

Labour Party unveils 2026 primary election timetable with inclusive concessions

By
Kehinde Victor
-

Key Points

  • The Labour Party (LP) released its 2026 primary election timetable and activity schedule in Abuja on Monday.
  • Nomination forms for all elective offices will be available for purchase starting May 6 and ending May 16.
  • Specific concessions have been approved for female aspirants, people living with disabilities, and youths aged 25 to 30.
  • The presidential nomination package is set at a total of ₦50,000,000, while governorship aspirants are to pay ₦25,000,000.
  • Governor Alex Otti of Abia has been granted his nomination form free of charge by the party’s National Working Committee.

Main Story

The Labour Party (LP) has officially set the stage for the 2027 general elections by releasing its primary election timetable and schedule of activities for 2026.

National Publicity Secretary Ken Asogwa announced that the party’s roadmap aligns with the 1999 Constitution, the Electoral Act of 2026, and the revised schedule provided by the Independent National Electoral Commission (INEC).

The process begins with the sale of nomination forms from May 6 to May 16, followed by a brief window for the submission of completed forms on May 17 and May 18.

Screening for various elective offices will be staggered, with House of Assembly and Governorship aspirants scheduled for May 20, and National Assembly and Presidential aspirants for May 22.

The party expects to publish the results of these screenings by May 23, with a window for appeals and petitions open until May 25.

Following the publication of the final list of cleared aspirants on May 26, the party will conduct primaries for state-level positions on May 27 and federal-level positions, including the presidency, on May 29.

In a move aimed at promoting its motto of “Equal Opportunity and Social Justice,” the LP has introduced significant financial concessions for specific groups.

Female aspirants, people living with disabilities, and youths between the ages of 25 and 30 are only required to pay for the expression of interest forms, exempting them from the cost of nomination forms for all positions.

Additionally, the party is urging prospective aspirants to complete their membership e-registration by midnight on May 4 to ensure their inclusion in the membership register submitted to INEC.

The Fees

  • Presidential: ₦10,000,000 for expression of interest and ₦40,000,000 for nomination, totaling ₦50,000,000.
  • Governorship: ₦5,000,000 for expression of interest and ₦20,000,000 for nomination, totaling ₦25,000,000.
  • Senatorial: ₦2,500,000 for expression of interest and ₦7,500,000 for nomination, totaling ₦10,000,000.
  • House of Representatives: ₦1,500,000 for expression of interest and ₦3,500,000 for nomination, totaling ₦5,000,000.
  • House of Assembly: ₦1,000,000 for expression of interest and ₦2,000,000 for nomination, totaling ₦3,000,000.

The Issues

  • High nomination fees may still pose a barrier to aspirants who do not qualify for the specific concessions provided.
  • The short timeframe for membership e-registration, ending May 4, requires immediate action from prospective members.
  • Compliance with the Electoral Act 2026 remains a critical priority to ensure the legality of the party’s membership register and primary outcomes.
  • Balancing internal party discipline with inclusive policies like the “free form” granted to the Abia Governor remains a point of observation for political analysts.

What’s Being Said

  • “The timetable was released in accordance with the 1999 Constitution.” — Ken Asogwa
  • “Female aspirants, people living with disabilities and youths aged 25 to 30 would only be required to pay for the expression of interest forms for all positions.” — Ken Asogwa
  • “Screening of aspirants for House of Assembly and Governorship election will be on May 20 while that of the National Assembly and the Presidential election will be on May 22.” — Ken Asogwa

What’s Next

  • The membership e-registration window closes at midnight on May 4.
  • Sale of nomination forms will commence across the country on May 6.
  • The party will begin the screening of aspirants for state-level positions on May 20.
  • Presidential and National Assembly primaries are scheduled to take place on May 29.

Bottom Line

Political Inclusion. By offering significant financial concessions to women, youths, and people with disabilities, the Labour Party is attempting to lower the barrier to entry for the 2027 elections while adhering to new electoral legal frameworks.

FCT residents decry fuel price hikes as transport costs surge

Seplat Energy and NNPC reward students with N10.5 million in academic prizes

By
Kehinde Victor
-

Key Points

  • The NNPC Upstream Investment Management Services (NUIMS) and Seplat Energy Joint Venture have distributed N10.5 million in cash and scholarships to schools in Imo State.
  • Mountain Crest High School emerged as the overall winner of the 2026 PEARLs quiz, securing a N5 million project-based grant.
  • The competition included a Steam Innovation Project segment, where PAC College took the top prize of N500,000 for problem-solving ingenuity.
  • Over 200 secondary schools participated in this year’s edition, aimed at promoting academic excellence and improving educational quality.
  • Imo State Governor Hope Uzodinma commended the partnership for its commitment to intellectual growth and youth empowerment.

Main Story

The 2026 edition of the Promoting Exceptional and Responsible Leaders (PEARLs) quiz and Steam competition concluded on Saturday in Owerri with a significant investment in the future of Imo State’s students.

The joint venture between Seplat Energy and NNPC Upstream Investment Management Services (NUIMS) rewarded academic brilliance and innovative thinking with a total prize pool of N10.5 million.

According to Seplat Energy’s Director of External Affairs and Social Performance, Chioma Afe, the initiative is a “flagship education quiz programme designed to encourage discipline, rigour, academic excellence, sharpness, and improve the minds of secondary school students”.

Mountain Crest High School claimed the top spot in the quiz category, earning a N5 million grant for school development, while its representing students each received N100,000 in scholarship funds.

In the Steam Innovation category, PAC College was recognized as the overall winner for presenting projects judged on their “relevance to real-life problems, value addition, technical depth, sustainability and quality of presentation”.

Representatives from NUIMS noted that the event serves as a testament to the commitment of both organizations to ensure that “no brilliance is overlooked and no talent is left behind,” encouraging students to value the peer connections and knowledge gained as much as the material rewards.

The Prize Breakdown

  • Mountain Crest High School received a N5 million project-based grant and a trophy; three students received N100,000 each in scholarship grants.
  • Owerri City Secondary School received a N3 million grant and a trophy; three students received N75,000 each in support grants.
  • Eziachi Secondary School, Orlu, received a N1 million grant; three students received N50,000 each in support grants.
  • PAC College received a N500,000 grant to support the development and scale-up of their innovative project.
  • St Theresa College received N250,000, and Urban College received N100,000.
  • Teachers from the top four schools were each awarded a laptop in recognition of their efforts and participation.

The Issues

  • The competition highlights the ongoing need for “project-based grants” to support the physical and academic development of secondary schools in operating areas.
  • Bridging the gap between theoretical knowledge and “real-life problems” remains a core focus of the Steam Innovation segment.
  • Ensuring “technical depth and sustainability” in student-led projects is critical for scaling innovative solutions at the community level.
  • Maintaining “rigour and discipline” in the education sector requires sustained partnership between private energy firms and government regulators.

What’s Being Said

  • “The PEARLs Quiz is our flagship education quiz programme designed to encourage discipline, rigour, academic excellence, sharpness, and improve the minds of secondary school students.” — Chioma Afe, Director of External Affairs, Seplat Energy
  • “Seplat Energy and our JV partner, NNPC Limited, remain steadfast in our resolve to power lives, empower minds, and ensure that no brilliance is overlooked.” — Chioma Afe, Director of External Affairs, Seplat Energy
  • “The friendships forged and knowledge gained would serve them well in future endeavours.” — Loveday Minanengiyeofori, Lead Community Relations, NUIMS

What’s Next

  • Mountain Crest High School and other winners will begin implementing “project-based” developments with their grant funds.
  • The Steam Innovation winners will move toward “scale-up” phases for their problem-solving projects supported by their respective grants.
  • NUIMS and Seplat Energy are expected to continue their annual engagement to expand the reach of the PEARLs programme in other operating states.
  • The Imo State Government has pledged “continued support” for such initiatives to further encourage local innovation and educational quality.

Bottom Line

Empowering Minds. Through a N10.5 million investment in prizes and grants, the Seplat-NNPC Joint Venture is reinforcing academic excellence and providing the capital necessary for schools to scale student-led innovations.

New Power Minister urged to deliver practical solutions for grid stability

FCT residents decry fuel price hikes as transport costs surge

By
Kehinde Victor
-

Key Points

  • Motorists and residents in the Federal Capital Territory have expressed deep concern over recent petrol price increases to between N1,364 and N1,444 per liter.
  • The price adjustment has led to a sharp rise in transportation fares, leaving many commuters, including civil servants, stranded at bus stops.
  • Investigations indicate that petrol prices have risen multiple times in 2026, up from approximately N900 per liter recorded in February.
  • Residents report that the high cost of fuel has forced many private car owners to park their vehicles or convert them into commercial use (“kabu kabu”) to survive.

Main Story

The Federal Capital Territory is currently grappling with a significant economic strain following the latest hike in the pump price of petrol. Reports from the News Agency of Nigeria indicated that on Wednesday, major and independent marketers adjusted their prices, with the Nigerian National Petroleum Company Limited (NNPCL) selling at N1,364 per liter while other outlets reached as high as N1,444.

This development has triggered a domino effect across the capital, as commercial drivers increased fares to offset their rising overheads, leaving many civil servants and low-income earners unable to afford daily commutes.

The impact of the increase extends beyond transportation, as traders and business owners at markets like Garki and Wuse reported that the cost of moving goods has made essential food items increasingly unaffordable.

Residents described a “too much to bear” situation, with some workers opting to stay home because their transport costs exceeded their daily earnings.

While some drivers have transitioned to Compressed Natural Gas (CNG), commuters complained that these operators often charge the same high rates as petrol-powered vehicles, effectively pocketing the cost difference rather than passing savings to the public.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributed these fluctuations to the deregulation of the market, where prices are now determined by the forces of demand and supply, alongside international crude oil prices and foreign exchange rates.

Despite this explanation, the prevailing sentiment among residents is one of desperation, with many calling for a return to the subsidy regime or a more robust roadmap to stabilize the sector and protect vulnerable households from continuous financial shocks.

The Issues

  • Rising fuel prices are directly inflating the cost of feeding, housing, and education for residents already struggling with stagnant wages.
  • A reduction in the number of operating commercial vehicles has left commuters stranded, while those remaining have doubled or tripled their fares.
  • High conversion costs and “unfair” pricing by CNG-powered vehicle operators prevent the public from feeling the benefits of alternative energy.
  • Small-scale traders, particularly those selling perishable goods like vegetables, face low patronage and potential bankruptcy due to supply price hikes.
  • The liberalization of the petroleum sector has exposed consumers to frequent “shocks” tied to global oil price shifts and the rising value of the dollar.

What’s Being Said

  • “At times, I do not go to work because there is no money for transportation, and feeding is even a bigger problem.” — Mrs. Zainab Idris, Civil Servant
  • “We know it is not the government’s making but it needs to work on the roadmap to resolve the issue and avoid further problems.” — Mr. Abdullahi Baba, Civil Servant

What’s Next

  • There are growing calls for the government to make petrol-to-CNG conversion kits affordable to the general public to “crash” transport fares.
  • Authorities may need to investigate reports of CNG drivers taking advantage of the situation by charging petrol-level fares.
  • Logistics operators are pushing for the promotion of electric vehicles and the introduction of a more efficient affordable public transit system.
  • Increased pressure from labor unions and civil society may force a re-evaluation of the “lasting policy” regarding market deregulation and its social impact.

Bottom Line

Financial Shock. The intersection of market deregulation and global energy volatility has pushed the cost of living in the FCT to a tipping point, necessitating a strategic shift toward alternative fuels and social safety nets for the working class.

Dollar To Naira Exchange Rate Today, May 4th, 2026

New Power Minister urged to deliver practical solutions for grid stability

By
Kehinde Victor
-

Key Points

  • Energy expert Dr. Olukayode Akinrolabu has called on the newly appointed Minister of Power, Mr. Joseph Tegbe, to provide “practical and sustainable solutions” to Nigeria’s electricity challenges.
  • The appointment of Mr. Tegbe by President Bola Tinubu on May 1 comes during a “critical time” for the nation’s energy sector.
  • Immediate priorities identified for the minister include halting persistent grid collapses and achieving at least “six months without a total system collapse”.
  • The expert advocated for the rollout of at least “two million meters” via private sector-driven initiatives to eliminate estimated billing.
  • Recommendations for sector liquidity include the “securitisation of legacy debts” estimated at over N6 trillion and a naira-based payment system for gas-to-power transactions.

Main Story

Energy expert Dr. Olukayode Akinrolabu has issued a direct challenge to the newly appointed Minister of Power, Mr. Joseph Tegbe, to move beyond promises and deliver measurable outcomes for the Nigerian power sector.

Speaking with the News Agency of Nigeria, Akinrolabu emphasized that the minister’s performance would be a decisive factor in Nigeria’s broader economic growth.

He noted that the public expects “decisive action to stabilise the system and restore public confidence,” particularly regarding grid stability and the transparency of the electricity market.

Akinrolabu argued that “trust begins with numbers, not promises,” and urged the minister to provide “cash clarity” by disclosing the sector’s debt profile and establishing a credible repayment framework.

He identified liquidity as the sector’s “lifeblood,” warning that the inability of generation companies to procure gas due to unpaid debts is a primary driver of reduced power generation.

To resolve this, he proposed stricter remittance enforcement for distribution companies and the adoption of a naira-based payment system for gas transactions to mitigate foreign exchange risks.

Addressing technical failures, the expert highlighted the urgent need for infrastructure upgrades. He identified weak transmission systems and the lack of a functional “Supervisory Control and Data Acquisition (SCADA) system” as major causes of instability.

Akinrolabu also pointed out that Nigeria’s spinning reserve is currently “significantly below global standards,” leaving the grid highly vulnerable to collapse. He concluded by advocating for a “balanced framework” for electricity tariffs, insisting on the principle of “no service, no premium tariff” to ensure consumers only pay for value received.

The Issues

  • Persistent system collapses are driven by “weak transmission systems” and “inadequate protection mechanisms”.
  • Unpaid generation companies are currently “unable to procure gas,” leading to a cycle of reduced power and increased grid failure risks.
  • A lack of transparency in billing continues to erode consumer trust, necessitating an accelerated “rollout of at least two million meters”.
  • Weak enforcement has led to inefficiencies across the value chain, specifically regarding “remittance enforcement for distribution companies”.
  • The current system for gas-to-power transactions is exposed to foreign exchange fluctuations, which the expert suggests mitigating through “naira-based payment”.

What’s Being Said

  • “Nigerians expect at least six months without a total system collapse. Anything less will not inspire confidence.” — Dr. Olukayode Akinrolabu
  • “Trust begins with numbers, not promises.” — Dr. Olukayode Akinrolabu
  • “No service, no premium tariff.” — Dr. Olukayode Akinrolabu

What’s Next

  • The minister is expected to prioritize the completion of the SCADA system to enable “real-time grid monitoring”.
  • Steps may be taken toward the “securitisation of legacy debts” estimated at over N6 trillion to improve market liquidity.
  • Plans are anticipated for a “private sector-driven initiative” to deploy millions of meters to consumers.
  • The administration is urged to expand “lifeline tariffs” and enforce service-based bands to protect low-income consumers.
  • Increased investment in “embedded generation” and private sector participation in transmission maintenance are recommended for the coming months.

Bottom Line

Power Performance. The success of the new Minister of Power will be measured by his ability to secure the national grid and restore financial liquidity to a sector currently burdened by trillions in legacy debt and technical inefficiencies.

UAE exit from OPEC signals need for Nigerian oil strategy reassessment

Dollar To Naira Exchange Rate Today, May 4th, 2026

By
Boluwatife Oshadiya
-
Stears Africa FX Monitor Predicts Continued Naira Volatility

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1378 per $1 on Monday, May 4th, 2026. The naira traded as high as 1370 to the dollar at the investors and exporters (I&E) window on Sunday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1385 on Sunday 3rd May, 2026, according to sources atBureau De Change (BDC).

Please note that theCentral Bank of Nigeria (CBN)  does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1400
Buying Rate₦1385

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1378
Lowest Rate₦1370

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Indian steel investment faces energy and logistics hurdles, warns expert

UAE exit from OPEC signals need for Nigerian oil strategy reassessment

By
Kehinde Victor
-

Key Points

  • Energy expert Dr. Billy Gillis-Harry stated that the United Arab Emirates’ exit from OPEC “signals the need for Nigeria to reassess its oil strategy and prioritise national economic interests”.
  • The UAE officially left the cartel on Friday to “prioritise national interests, maximise oil production, expand its market share and escape the production quotas”.
  • The departure follows similar exits by Qatar, Ecuador, and Angola, raising concerns regarding the long-term “cohesion and influence” of the group.
  • Dr. Gillis-Harry suggested that Nigeria should aim to “ramp up production to about four million barrels per day” and prioritize domestic refining.
  • While the UAE’s move offers lessons, the expert noted that “Nigeria might not yet be in a position to exit OPEC due to structural and policy constraints”.

Main Story

The United Arab Emirates’ recent departure from the Organisation of the Petroleum Exporting Countries (OPEC) has prompted calls for Nigeria to pivot toward a more sovereign-focused energy policy.

Speaking with the News Agency of Nigeria, Dr. Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), explained that the UAE’s exit highlights a growing trend where nations prioritize “sovereign decision-making” over alliance-based production quotas.

He noted that the move was specifically intended to allow the UAE to maximize its crude output and expand its global market share—flexibility that is often restricted under OPEC’s current framework.

For Nigeria, the development validates a shift in thinking beyond the restrictive production caps imposed by the cartel. Dr. Gillis-Harry argued that Nigeria should target significantly higher output, specifically aiming for “about four million barrels per day,” with a strategic focus on “allocating a significant portion to domestic refining”.

He maintained that strengthening local capacity would transform Nigeria into a “net exporter of refined petroleum products,” a move that would conserve foreign exchange and spur job creation. However, he cautioned that “Nigeria should focus on improving its production capacity and economic resilience” before considering a full exit from the organization.

The expert also warned that Nigeria could face “increased competition in the global oil market” as non-OPEC producers like the UAE gain more flexibility in pricing.

Furthermore, he pointed out that Nigeria’s “existing forward sales of crude oil” could complicate such a transition, necessitating “careful management to protect national economic benefits”.

Despite these pressures, the PETROAN president emphasized that the global shift is unlikely to harm Nigeria if the government adopts policies that “prioritise long-term economic gains while remaining competitive in the evolving global energy landscape”.

The Issues

  • OPEC’s long-term “cohesion and influence” are being questioned following a series of high-profile departures.
  • Nigeria is currently bound by “structural and policy constraints” that may make following the UAE’s lead difficult in the immediate term.
  • “Increased competition” from non-OPEC producers could pressure Nigeria’s pricing and market share.
  • “Existing forward sales” of Nigerian crude oil pose a management challenge for any major shift in production strategy.

What’s Being Said

  • “The UAE’s exit from the OPEC signals the need for Nigeria to reassess its oil strategy and prioritise national economic interests.” — Dr. Billy Gillis-Harry
  • “Nigeria should focus on improving its production capacity and economic resilience before considering such a move.” — Dr. Billy Gillis-Harry
  • “Although some pressure may arise, the development is unlikely to have a significantly negative impact on Nigeria if strategic measures are put in place.” — Dr. Billy Gillis-Harry

What’s Next

  • Nigeria will likely face intensified pressure to increase “local refining capacity” to reduce import dependence.
  • Policymakers must conduct a review of “existing forward sales” to ensure they do not hinder future production flexibility.
  • Energy stakeholders are expected to monitor “emerging fractures within the oil alliance” to determine the viability of continued OPEC membership.
  • The government may explore “strategic measures” to enhance economic resilience against non-OPEC pricing flexibility.

Bottom Line

Sovereign Strategy. The fracturing of OPEC’s influence encourages Nigeria to move away from rigid production quotas and toward a “net exporter” model for refined products to secure its economic future.

Spurs edge Aston Villa to exit relegation zone after crucial away win

Indian steel investment faces energy and logistics hurdles, warns expert

By
Kehinde Victor
-

Key Points

  • An investment deal worth $1 billion over three years has been signed between the Ministry of Steel Development and the Indian firm Rashmi Metaliks Group.
  • Economic expert Dr. Emmanuel Eche warns that infrastructural bottlenecks, specifically epileptic power supply and poor rail links, could hinder the deal’s success.
  • Nigeria’s annual steel demand is valued at $10 billion, much of which is currently met through imports.
  • The expert advocates for “Direct Reduced Iron” (DRI) and gas-based plants over coal to ensure environmental sustainability.
  • Successful implementation could position Nigeria to achieve its goal of 10 million tonnes of crude steel output annually by 2030.

Main Story

The Nigerian government’s recent Memorandum of Understanding with the Rashmi Metaliks Group faces potential implementation challenges rooted in the country’s long-standing infrastructural deficits.

Dr. Emmanuel Eche, a Senior Lecturer at the Federal University, Wukari, told the News Agency of Nigeria that while the $1 billion investment is a positive step toward industrialization, the energy-intensive nature of steel production requires a more reliable power and gas supply than currently exists.

He noted that without dedicated gas pipelines, captive power plants, and functional rail links to iron ore sites, the high capital expenditure may fail to produce competitive steel products.

The expert further emphasized the need for transparency, urging the government to convert the MoU into a detailed investment agreement featuring clear timelines and public accountability standards.

Beyond logistics, Dr. Eche raised concerns regarding environmental impacts, suggesting that Nigeria should “leapfrog” to modern gas-based plants rather than traditional, high-pollution coal methods to protect host communities.

Despite these warnings, he acknowledged the immense potential of the deal to transform Nigeria from a raw mineral exporter into a value-adding economy, leveraging the nation’s three billion tonnes of iron ore to reduce the massive $10 billion annual import bill and create thousands of jobs across the construction and automotive sectors.

The Issues

  • The steel industry’s heavy reliance on power makes it highly vulnerable to Nigeria’s unstable electricity grid and gas supply.
  • Poor rail infrastructure and port congestion remain significant barriers that could sharply increase the cost of production and distribution.
  • Integrated steel plants pose risks of wastewater, dust, and carbon dioxide pollution if environmental standards are not strictly enforced.
  • There is a risk that tax holidays or exclusive agreements for the Indian firm could create an uneven playing field for existing local steel players.

What’s Being Said

“Fast-track dedicated gas supply, captive power and rail links to iron ore sites and ports. Without this, one billion dollars capex won’t translate into competitive steel.” — Dr. Emmanuel Eche, Economic Expert

“Nigeria should leapfrog to Direct Reduced Iron (DRI) and gas-based plants, not coal.” — Dr. Emmanuel Eche, Economic Expert

“The deal targets job creation across the steel value chain. Steel is labour-intensive, so Direct Reduced Iron, pig iron, billets and ductile pipe lines will employ engineers, technicians, and support staff.” — Dr. Emmanuel Eche, Economic Expert

What’s Next

  • Government officials are expected to work on transitioning the preliminary MoU into a formal, binding investment agreement with specific performance indicators.
  • The administration must prioritize the development of dedicated energy and transport links to support the upcoming Indian-led steel plants.
  • Environmental regulators will need to establish and enforce strict ESG (Environmental, Social, and Governance) standards for the new facilities.
  • Local engineers and technicians are anticipated to undergo training as part of the deal’s job creation and technology transfer objectives.

Bottom Line

Infrastructural Necessity. While the $1 billion Indian investment offers a path to slashing Nigeria’s $10 billion steel import bill, its ultimate success depends on the government’s ability to fix power and rail bottlenecks while ensuring environmental and fiscal transparency.

Manchester United secure UCL spot with dramatic win over Liverpool

Manchester United secure UCL spot with dramatic win over Liverpool

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Manchester United defeat Liverpool 3-2 at Old Trafford
  • Victory secures UEFA Champions League qualification
  • Kobbie Mainoo scores decisive late winner
  • Liverpool stage comeback but fall short

Main Story

Manchester United clinched qualification for next season’s UEFA Champions League after a dramatic 3-2 victory over Liverpool at Old Trafford, also completing their first league double over their rivals in a decade.

United started aggressively and were rewarded early when Matheus Cunha struck with a deflected effort after a second attempt, setting the tone for the hosts’ dominance. The lead was extended shortly after, as Benjamin Šeško capitalised on a rebound following a Bruno Fernandes header that ricocheted off goalkeeper Freddie Woodman.

Liverpool struggled to impose themselves in the first half, although Cody Gakpo came close with a curling effort that narrowly missed the target. The visitors improved marginally late in the half, but entered the break trailing by two goals.

The second half saw a dramatic shift in momentum. Liverpool capitalised on defensive lapses, first through Dominik Szoboszlai, who carried the ball forward before finishing clinically into the bottom corner.

Moments later, Alexis Mac Allister intercepted a poor pass, setting up Szoboszlai to assist Cody Gakpo for an equaliser into an open net—completing a rapid turnaround.

Despite the setback, United responded with resilience. The decisive moment came when Kobbie Mainoo latched onto a loose clearance on the edge of the box and fired home, sending the Old Trafford crowd into celebration.

Liverpool pushed for a late equaliser, with Gakpo testing goalkeeper Senne Lammens, but United held firm to secure all three points.

What’s Being Said

“This performance reflects our resilience and ambition. Securing Champions League football is a major achievement,” a United source noted post-match.

What’s Next

The result confirms Manchester United’s top-five finish and strengthens managerial prospects for Michael Carrick. Liverpool, despite the defeat, remain in contention for a top-five finish with a six-point advantage and three matches remaining.

NEPC and stakeholders launch Nijazone online marketplace in Imo

Spurs edge Aston Villa to exit relegation zone after crucial away win

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Tottenham defeat Aston Villa 2-1 to climb out of relegation zone
  • Spurs record first back-to-back league wins since start of season
  • Villa struggle offensively, failing to register a first-half shot
  • Late Emiliano Buendía goal proves only a consolation

Main Story

Tottenham Hotspur secured a vital 2-1 away victory over Aston Villa to move out of the Premier League relegation zone, marking their first consecutive league wins since the opening weeks of the campaign.

Villa, who made seven changes following their UEFA Europa League semi-final defeat to Nottingham Forest, endured a sluggish start as Spurs dominated both in and out of possession. Despite early control, Tottenham initially lacked sharpness in the final third.

The breakthrough came through Conor Gallagher, who capitalised on a partially cleared long throw to fire a low strike from 25 yards—his first goal for the North London club. Spurs maintained pressure, with João Palhinha hitting the post shortly after, before Randal Kolo Muani tested Emiliano Martínez.

Tottenham doubled their lead when Destiny Udogie delivered a precise cross that Richarlison converted with a powerful header, registering his first-ever goal against Villa and energising the away support.

Aston Villa struggled to respond, taking 34 minutes to register their first touch in Tottenham’s penalty area and failing to record a single shot before halftime—a performance that drew frustration from home fans.

Manager Unai Emery delayed substitutions until just before the hour mark, introducing Ollie Watkins as Villa attempted to shift momentum. However, the hosts remained ineffective, recording minimal attacking presence throughout the match.

Tottenham, meanwhile, shifted focus to defensive discipline, managing the game effectively and limiting Villa’s chances. A late stoppage-time header from Emiliano Buendía reduced the deficit but had little impact on the final outcome.

What’s Being Said

“We showed character and discipline today. This is the level we must maintain,” a Spurs camp reaction indicated following the result.

What’s Next

The victory lifts Tottenham above West Ham United and could prove pivotal in their relegation battle, particularly given their strong away form—seven of their last eight league wins have come on the road. Aston Villa, despite the loss, remain within reach of the top five, maintaining a six-point cushion.

NEPC and stakeholders launch Nijazone online marketplace in Imo

CBN tightens dividend rules to strengthen banking sector resilience

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • CBN now requires regulatory approval before banks declare dividends
  • Policy aims to strengthen capital buffers and financial stability
  • Move aligns with BOFIA 2020 and global prudential standards
  • Banks undergoing recapitalisation and stricter stress testing
  • Investors urged to focus on capital quality, not just profitability

Main Story

The Central Bank of Nigeria (CBN) has introduced a new directive requiring banks to obtain regulatory approval before declaring dividends, marking a significant shift in the country’s banking oversight framework.

The policy is designed to reinforce capital discipline, ensure earnings quality, and safeguard financial system stability as the sector undergoes recapitalisation and regulatory adjustments.

The directive is anchored in the provisions of the Central Bank of Nigeria Act, 2007 and the Banks and Other Financial Institutions Act (BOFIA), 2020, which empower the apex bank to supervise capital adequacy, asset quality, and risk management practices.

Under existing prudential guidelines, banks are required to pay dividends only from realised profits after adequate provisioning, without compromising minimum capital thresholds.

What’s Being Said

Regulatory authorities indicate that the new rule is intended to ensure that reported profits reflect actual financial strength, particularly in a high-inflation environment where earnings may be influenced by foreign exchange gains or restructured assets.

The policy also comes as the CBN phases out regulatory forbearance introduced during previous economic shocks, requiring banks to fully recognise non-performing loans and adhere to stricter IFRS 9-based provisioning standards.

From a policy standpoint, the directive focuses on three key objectives:

  • Preserving capital buffers
  • Enhancing financial system stability
  • Aligning Nigeria’s banking regulations with global standards

Industry analysts note that similar restrictions have been applied in advanced economies during periods of financial adjustment, particularly following the 2008 global financial crisis.

Market Implications

For investors, the directive introduces a structural shift in how bank equities are evaluated.

Dividend payouts, traditionally a major attraction for banking stocks, will now depend on regulatory clearance tied to capital adequacy, asset quality, and risk exposure.

Banks with strong Tier 1 capital ratios, low non-performing loans, and minimal reliance on regulatory forbearance are expected to maintain consistent dividend flows.

Conversely, institutions with weaker balance sheets may face payout restrictions despite reporting profits.

What’s Next

The policy signals a transition toward a more resilience-focused banking system, where profitability is balanced against long-term sustainability.

As recapitalisation efforts continue and stress testing becomes more rigorous, analysts expect increased differentiation among banks based on capital strength and risk management practices.

Investors are likely to shift focus toward balance sheet quality metrics, including capital ratios, cost of risk, and provisioning coverage, as the market adjusts to the new regulatory environment.

Falana urges media to demand reopening of unresolved murder cases

Nigerian equities add N26.2trn in April on oil rally, dividend momentum

By
Boluwatife Oshadiya
-
Nigerian Stock Exchange

By Boluwatife Oshadiya

Key Points

  • Market capitalisation rose by N26.2 trillion to N155.99 trillion in April
  • All-Share Index gained 20.36% to close at 242,277.81
  • Oil price optimism and strong corporate earnings drove investor sentiment
  • Banking and oil & gas stocks led the rally
  • Trading activity remained bullish, with 18 of 20 sessions closing positive

Main Story

Nigeria’s equities market recorded a significant surge in April, with investors gaining approximately N26.185 trillion amid improved global crude oil prices and robust corporate earnings releases.

Market capitalisation climbed from N129.809 trillion at the start of the month to N155.994 trillion, reflecting a 20.17 per cent increase. Similarly, the All-Share Index (ASI) advanced by 40,990.03 points to close at 242,277.81, representing a 20.36 per cent gain.

Trading sentiment remained firmly positive throughout the period, with 18 out of 20 trading sessions closing in the green, underscoring sustained investor confidence in the market.

The rally was largely driven by gains in oil and gas stocks, buoyed by rising global crude oil prices, alongside renewed investor interest in banking stocks following dividend declarations and strong earnings reports.

Industrial goods equities also contributed to the upward momentum, reflecting broader sectoral participation in the market’s bullish run.

In terms of market activity, investors traded a total of 15.596 billion shares valued at N848.972 billion across 1,113,650 deals during the month.

What’s Being Said

Vice President of Highcap Securities Ltd., David Adonri, described April as a standout period for the equities market.

“April was another fantastic month for the capital market as equities continued its unprecedented rally with non-diminished intensity. The main charge was spearheaded by the banking sector… it was also the tail end of the earnings season, which usually orchestrates activities in the market.”

Adonri added that the rally could extend into May, citing improving crude oil prices and relative stability in the foreign exchange market, although he warned that insecurity and pre-election uncertainties could pose downside risks.

Stockbroker Tajudeen Olayinka noted that the extension of trading hours from 9:00 a.m. to 4:00 p.m. would ultimately deepen market participation.

“The longer trading window will enhance participation, particularly from international investors operating across different time zones.”

Similarly, National Coordinator of the Independent Shareholders Association of Nigeria, Moses Igbrude, attributed the bullish trend to strong corporate earnings and increased liquidity from ongoing bank recapitalisation efforts.

“The positive sentiment was driven by the release of corporate earnings, most of which had been impressive, with only a few underperforming.”

Market Movers

Top gainers during the period included:

  • Seplat Energy: N9,099.90 → N11,495
  • Aradel: N1,260 → N2,024
  • Dangote Cement: +N160 to N970
  • MTN Nigeria: +N155 to N915
  • Lafarge Africa: +N130 to N350
  • Zenith Bank and GTCO also recorded notable gains

On the downside:

  • Okomu Oil: -N15 to N1,750
  • Conoil: -N10.40 to N194
  • Oando: -N3.60
  • Eterna: -N2.10

What’s Next

Market analysts expect continued positive momentum in the near term, supported by strong liquidity, dividend reinvestment cycles, and favourable oil price dynamics.

However, macroeconomic uncertainties, including inflationary pressures, security concerns, and political developments ahead of future elections, remain key risk factors that could influence investor sentiment.

Falana urges media to demand reopening of unresolved murder cases

States’ external debt nears $6bn despite surge in FAAC allocations

By
Boluwatife Oshadiya
-

By BizWatch Nigeria

Key Points

  • Subnational external debt rises to $5.68bn in 2025
  • 33 states and FCT record increased borrowing
  • FAAC allocations jump by over N2tn year-on-year
  • Debt servicing costs rise 25.77% to N455.38bn

Main Story

Nigeria’s state governments and the Federal Capital Territory significantly increased their external borrowing in 2025, pushing total subnational foreign debt to $5.68 billion, despite a sharp rise in revenue allocations from the Federation Account.

Data from the Debt Management Office (DMO) showed that external debt rose by $884.66 million year-on-year from $4.80 billion in 2024, representing an 18.43% increase.

A breakdown of the figures revealed that 33 out of 37 subnational entities expanded their external debt positions, highlighting widespread reliance on foreign financing. Only four states—Edo, Rivers, Anambra, and Bayelsa—recorded reductions.

The increase comes amid a substantial rise in Federation Account Allocation Committee (FAAC) disbursements. Total allocations to states climbed to N7.315 trillion in 2025 from N5.186 trillion in 2024, representing a 41% increase. When derivation revenues are included, total inflows rose to approximately N8.934 trillion.

Despite these improved revenues, borrowing activity remained strong, suggesting that many states are prioritising infrastructure development and fiscal obligations over debt reduction.

Several states recorded sharp increases in borrowing. Katsina nearly doubled its external debt, while Kogi, Niger, Plateau, and Gombe posted triple-digit percentage increases. Kaduna also saw a substantial rise, further cementing its position among the most externally indebted states after Lagos.

Lagos, however, recorded only marginal growth of 0.41%, indicating a more cautious borrowing approach despite maintaining the largest debt stock at approximately $1.17 billion.

What’s Being Said

Fiscal experts have raised concerns about the sustainability of rising debt levels.

“States face financial strain due to debt repayments despite record FAAC inflows,” said Obiageli Onuorah of the Nigeria Extractive Industries Transparency Initiative (NEITI).

BudgIT’s Country Director, Vahyala Kwaga, warned that increased federal allocations may be discouraging states from improving internal revenue generation.

“Fiscal sustainability requires states to look inward… improving revenue systems and prioritising long-term investments.”

Economist Taiwo Owoeye highlighted currency risks:

“Since most debts are dollar-denominated, naira depreciation increases repayment obligations.”

Similarly, Proshare’s Chief Economist, Teslim Shitta-Bey, criticised poor fiscal management:

“Borrowing might seem like an easy way to run operations, but it is not necessarily the right approach.”

What’s Next

With debt servicing costs rising to N455.38 billion in 2025, analysts expect increasing pressure on state finances. Without structural reforms to boost internally generated revenue and manage borrowing, subnational governments may face tighter fiscal space and reduced capacity for capital investment.

NEPC and stakeholders launch Nijazone online marketplace in Imo

Bitcoin surges past $79,000 as institutional demand strengthens

By
Boluwatife Oshadiya
-

By BizWatch Nigeria

Key Points

  • Bitcoin price climbs above $79,000 amid renewed institutional demand
  • $629.8 million inflow into US spot ETFs boosts market sentiment
  • Hyperliquid launches crypto-native prediction market
  • Trading volume rises 9% to $18.6 billion

Main Story

Bitcoin extended its bullish run over the weekend, climbing above $79,000 as renewed institutional interest and new market innovations lifted sentiment across the cryptocurrency sector.

Trading data showed the world’s largest digital asset hovering around $79,300, with daily trading volumes rising by approximately 9% to $18.6 billion. The asset has now gained about 18.5% over the past month, pushing its market capitalisation to roughly $1.6 trillion.

The latest rally is being driven largely by a resurgence in institutional participation, particularly through spot exchange-traded funds (ETFs). On May 1, US-based Bitcoin ETFs recorded a combined net inflow of $629.8 million, reversing a recent period of outflows.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $284.4 million of the inflows, underscoring strong demand from large-scale investors seeking regulated exposure to the asset class.

The influx of institutional capital has provided sustained buy-side pressure, helping stabilise prices and offset retail-driven volatility.

In parallel, crypto trading platform Hyperliquid has launched a new prediction market feature on its mainnet, marking a significant evolution in blockchain-based financial instruments.

The platform’s HIP-4 upgrade introduces fully collateralised, outcome-based contracts focused initially on Bitcoin price direction. Unlike traditional leveraged trading, the system eliminates liquidation risks, offering traders a new way to hedge or speculate.

What’s Being Said

Market analysts note that institutional flows are currently the dominant driver of Bitcoin’s price momentum.

“Large, regulated funds adding Bitcoin exposure are helping stabilise prices and counter retail selling pressure.”

On the innovation side, Hyperliquid’s new feature is seen as a structural shift in crypto markets.

“Prediction markets are no longer just information markets—they’re becoming genuine trading markets.”

What’s Next

Analysts expect Bitcoin’s trajectory to remain closely tied to institutional flows and macroeconomic developments. The expansion of crypto-native financial instruments, such as prediction markets, could further deepen liquidity and broaden market participation.

Kwankwaso, Obi defect to NDC, advocate unity and economic reform

Nigeria eyes N6.8trn oil windfall as global energy crisis lifts prices

By
Boluwatife Oshadiya
-

By BizWatch Nigeria

Key Points

  • Nigeria projected to gain N6.8 trillion from elevated oil prices
  • Brent crude forecast raised to $78 per barrel amid geopolitical tensions
  • Petrol prices surge over 50%, raising inflation concerns
  • GDP growth forecast revised slightly upward to 4.4%

Main Story

Nigeria is set to record an estimated N6.8 trillion fiscal windfall following a sharp rise in global crude oil prices triggered by ongoing geopolitical tensions, according to a new report by BMI, a Fitch Solutions company.

The projected revenue boost comes as global oil benchmarks surged above $120 per barrel amid an extended blockade of the Strait of Hormuz by the United States, following failed diplomatic engagements with Iran. The disruption has tightened global supply and driven price volatility across energy markets.

BMI noted that Nigeria remains relatively insulated from the direct economic fallout of the US-Iran tensions compared to many Sub-Saharan African peers. Reflecting improved oil market conditions, the firm revised Nigeria’s 2026 real GDP growth forecast upward from 4.3% to 4.4%.

Higher crude prices are expected to significantly improve government revenues, with Brent crude now projected to average $78 per barrel, compared to the pre-conflict estimate of $67 per barrel.

However, the report highlighted emerging domestic pressures linked to Nigeria’s deregulated fuel pricing system. With the removal of fuel subsidies, local pump prices are now fully exposed to international oil price movements.

Petrol prices have risen by more than 50% since the onset of the crisis, increasing transportation and logistics costs across the economy. Diesel and aviation fuel (Jet A) prices have also climbed, prompting airlines to raise ticket fares for both domestic and international routes.

These cost pressures are expected to push Nigeria’s consumer price index higher, potentially driving inflation upward for the second consecutive month.

What’s Being Said

“We have raised our 2026 real GDP growth forecast from 4.3% to 4.4%, making it one of the few upward revisions,” BMI said.

“Higher Brent crude prices… should deliver a fiscal windfall of about NGN6.8trn, or just over 1% of GDP.”

Despite inflationary pressures, analysts expect the impact to be temporary.

“We have not amended our 2026 inflation forecast… as a stronger naira should help contain import costs,” the report added.

What’s Next

While rising oil prices offer short-term fiscal relief, analysts warn that sustained inflation and energy price volatility could offset gains if not carefully managed. Policymakers are expected to balance revenue windfalls with inflation control measures and exchange rate stability.

Peter Obi exits ADC, cites toxic political climate and internal party crisis

Peter Obi exits ADC, cites toxic political climate and internal party crisis

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Peter Obi resigns from African Democratic Congress (ADC)
  • Cites internal crisis, external interference, and political hostility
  • Says decision not linked to personal grievances with party leaders
  • Warns of growing toxicity in Nigeria’s political environment
  • Reaffirms commitment to national development

Main Story

Former Governor of Anambra State, Peter Obi, has formally resigned from the African Democratic Congress (ADC), citing deepening internal divisions, external interference, and a hostile political environment. The announcement was made in a statement issued by his media aide, Valentine Obienyem, in Abuja.

Obi described Nigeria’s political climate as increasingly toxic, marked by intimidation, insecurity, and persistent scrutiny of individuals committed to genuine public service.

He expressed concern that institutions designed to safeguard citizens are increasingly being used in ways that undermine democratic values, while reform-minded leaders face mounting pressure.

The former Labour Party presidential candidate in the 2023 general election had joined the ADC earlier this year after exiting the Labour Party on February 14.

What’s Being Said

Obi clarified that his decision to leave the ADC was not driven by personal conflicts with party leadership.

“Let me state clearly: my decision to leave the ADC is not because of our highly respected Chairman, Senator David Mark… nor because of my leader and elder brother, Alhaji Atiku Abubakar.”

“It is not that any respected leaders did anything personally wrong to me. I will continue to respect them.”

He, however, pointed to internal divisions, legal disputes, and infiltration by destabilising elements as key factors behind his departure.

Obi noted that the challenges within the ADC mirrored those he previously encountered in the Labour Party, making meaningful political engagement increasingly difficult.

He also criticised a broader societal trend where integrity, humility, and adherence to due process are often misinterpreted as weakness.

“Sincere efforts toward nation-building are being undermined by suspicion, exclusion, and political manoeuvres driven more by control.”

What’s Next

Obi reaffirmed his commitment to Nigeria’s development, emphasising that his political ambition is rooted in advancing citizens’ welfare rather than holding office.

He highlighted insecurity, poverty, and displacement as urgent national challenges, signaling continued engagement in public discourse and reform advocacy despite his exit from formal party structures.

His next political alignment remains uncertain, but analysts suggest his move could reshape opposition dynamics ahead of future electoral cycles.

Falana urges media to demand reopening of unresolved murder cases

Kwankwaso, Obi defect to NDC, advocate unity and economic reform

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Rabiu Kwankwaso and Peter Obi join Nigeria Democratic Congress (NDC)
  • Defection follows exit from African Democratic Congress (ADC)
  • Leaders call for unity, youth empowerment, and economic reform
  • Move signals shifting dynamics in Nigeria’s political landscape

Main Story

Former Kano State Governor Rabiu Kwankwaso and former presidential candidate Peter Obi have officially defected to the Nigeria Democratic Congress (NDC), marking a significant development in Nigeria’s evolving political landscape.

The announcement was made on Sunday at the party’s National Secretariat in Abuja, where both leaders were received by NDC National Leader, Senator Seriake Dickson, alongside other party officials.

The duo emphasised the need for national unity, youth empowerment, and an end to persistent political instability, describing their move as part of a broader effort to reposition Nigeria for sustainable development.

Kwankwaso commended the party’s leadership and ideological direction, noting alignment in key policy areas including education reform and inclusive governance.

“We share common priorities around education, youth and women empowerment, and national development,” Kwankwaso stated, adding that political platforms must serve as instruments for social progress rather than mere vehicles for power.

He also encouraged broader political participation, urging Nigerians to engage actively in party processes and democratic activities.

Peter Obi, in his remarks, highlighted the urgency of addressing Nigeria’s economic challenges, particularly rising unemployment and poverty levels.

“It is unacceptable that over 50 per cent of Nigerians are not productively engaged. We must refocus on building a functional economy,” Obi said.

He criticised ongoing political infighting and called for a shift toward governance that prioritises citizens’ welfare, security, and economic stability.

What’s Being Said

“Nigeria is going through difficult times. Our focus must return to the people and the future of this country,” Obi emphasised.

What’s Next

The defection of both political figures is expected to reshape alliances ahead of future elections, potentially strengthening the NDC’s national presence. Analysts suggest the move could trigger further realignments within Nigeria’s opposition landscape as parties reposition for influence and electoral competitiveness.

NEPC and stakeholders launch Nijazone online marketplace in Imo

NEPC and stakeholders launch Nijazone online marketplace in Imo

By
Kehinde Victor
-

Key Points

  • The Nigerian Export Promotion Council (NEPC) and business stakeholders in Imo have officially unveiled nijazone.com, an online marketplace.
  • The platform is designed to address value chain challenges, including logistics, buyer verification, and seller identification.
  • Nijazone aims to connect rural farmers and producers directly to global markets, preventing post-harvest losses.
  • The initiative targets the creation of at least 1,000 jobs in Imo this year through training and value chain services.
  • Government officials and business leaders are urging youths and exporters to adopt the platform to boost foreign exchange and reduce social vices.

Main Story

In a strategic move to digitize local trade, the Nigerian Export Promotion Council (NEPC) and private sector partners launched nijazone.com in Owerri on Saturday.

The platform is positioned as a comprehensive solution for local exporters, tackling longstanding hurdles such as authenticity verification and international logistics.

By bridging the gap between rural producers and the global economy, the marketplace aims to ensure that agricultural products are sold directly from farms rather than perishing due to lack of market access.

The launch emphasized youth empowerment and economic development, with Nijazone’s leadership committing to training rural youths on website navigation and service delivery.

Beyond simple buying and selling, the platform is expected to create a robust employment network for dispatch and logistics services. Stakeholders, including the Imo State Government and industry veterans, highlighted the platform’s potential to introduce traditional African products to a wider audience, thereby generating essential foreign exchange revenue.

The Issues

  • Exporters currently face significant difficulties with buyer verification and ensuring the authenticity of their transactions.
  • Rural farmers often suffer from high post-harvest losses because they lack direct links to stable international markets.
  • There is a critical need to engage youths in productive ventures to reduce social vices and unemployment across the state.
  • Local producers must strictly adhere to originality and global standards to remain competitive on a digital international stage.

What’s Being Said

“Nijazone’s unique ability is our access to the rural populace, whom we link to the rest of the world.” — Chief Joachim Nwogu, CEO, Nijazone

“The platform would address value chain challenges, such as logistics, buyer verification and authenticity.” — Mr. Anthony Ajuruchi, Imo NEPC Coordinator

“We are targeting at least 1,000 jobs in Imo this year.” — Dr. Ngozi Okechukwu, Country Director, Nijazone

“If our farmers hook up with us, their products will no longer perish, but be sold from the comfort of their homes.” — Chief Joachim Nwogu, CEO, Nijazone

What’s Next

  • Trained staff will begin visiting rural communities to educate youths on navigating and utilizing the website for self-employment.
  • The platform aims to facilitate the formal registration of 1,000 new job roles within the state’s value chain this year.
  • Exporters and intending traders are expected to begin uploading products to expand their reach beyond Nigerian borders.
  • The Ministry of Entrepreneurship will continue to monitor rural producers to ensure their goods meet the required global standards for originality.

Bottom Line

By linking rural productivity to a global digital marketplace, Nijazone and the NEPC are creating a scalable model for job creation and non-oil export growth in Imo State.

WHO members advance pandemic pact framework, extend talks on pathogen sharing system

Falana urges media to demand reopening of unresolved murder cases

By
Kehinde Victor
-

Key Points

  • Human rights campaigner Femi Falana (SAN) has called on the media to intensify advocacy for the reopening of abandoned murder cases.
  • The call was made during a SERAP interactive session in Ikeja focused on promoting accountability and justice amidst growing insecurity.
  • Falana identified several high-profile cases requiring immediate attention, including the deaths of Sylvester Oromoni and Kudirat Abiola.
  • He criticized the media for underutilizing the Freedom of Information Act and sacrificing professionalism for commercial gains like newspaper wraparounds.
  • The activist emphasized that the media has a constitutional duty to hold the government accountable and follow up on rights violations until they are resolved.

Main Story

Senior Advocate of Nigeria, Femi Falana, has challenged the Nigerian media to reclaim its role as a public watchdog by demanding justice for victims of extrajudicial killings and unresolved murders.

Speaking at a press conference organized by the Socio-Economic Rights and Accountability Project (SERAP), Falana argued that the culture of impunity persists because high-profile cases are often abandoned by the authorities once public outcry subsides.

He urged journalists to resist the “forgetfulness” that allows these cases to stay closed without anyone being held accountable.

Beyond the call for justice, Falana expressed concern over the declining standards of professional journalism. He specifically pointed to the prevalence of “wraparound” advertisements where commercial content covers the front page as a practice that undermines public trust and truth.

He further noted that the media has failed to fully leverage the Freedom of Information Act to extract data that could promote good governance and expose human rights abuses.

Cases for Reopening

  • Sylvester Oromoni: The student of Dowen College, Lagos, whose death sparked national outrage.
  • Kudirat Abiola: The wife of Chief MKO Abiola, whose murder remains a significant point of historical grievance.
  • Owode Onirin Traders: The alleged murder of six traders at a Lagos market in August 2025.
  • Offa Bank Robbery: The 2018 Kwara incident that resulted in numerous fatalities and unresolved questions.
  • Lagos Police Killings: Recent instances involving alleged extrajudicial actions by officers that have not been revisited.

The Issues

  • Several high-profile murder and rights violation cases remain abandoned due to lack of sustained follow-up.
  • The pressure to prioritize commercial revenue, such as wraparound ads, often compromises editorial objectivity.
  • Media managers and journalists are not sufficiently invoking the Freedom of Information Act to seek justice.
  • The Federal Government’s justice delivery institutions are failing to provide timely resolution for victims of rights violations.

What’s Being Said

“The media must not allow such cases to be forgotten… follow-up on rights violation cases until resolved.” — Femi Falana, SAN

“The media must not sacrifice truth and objectivity on the altar of commercial gains.” — Femi Falana, SAN

“The media has a constitutional duty to hold government accountable and defend the rights of citizens.” — Human Rights Activist

What’s Next

  • Media organizations are encouraged to begin investigative follow-ups on the specific cases listed by Falana.
  • Potential increase in the use of the Freedom of Information Act by journalists to demand state records on unresolved crimes.
  • Collaboration between civil society organizations and media outlets to create a unified front for accountability.
  • Pressure on the Federal Government to strengthen national justice institutions and ensure timely delivery for victims.

Bottom Line

Femi Falana’s call serves as a reminder that the media’s primary duty is to the public interest, requiring a shift away from commercial distractions and toward a sustained fight for justice.

Nigeria Customs Records 38.66% Export Growth, Hits $925.84m in Q1 2026
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