Author: user user

2027: PDP’s Bawa raises alarm over alleged N1trn Kaduna debt

Kaduna governorship candidate under the platform of the Peoples Democratic Party (PDP), Hon. Usman Shehu Bawa, has raised concerns over the state’s rising debt profile, describing it as a major threat to sustainable development.

Bawa made the remarks on Wednesday, during a one-on-one policy dialogue with governorship candidates in Kaduna State, organised by the Partnership for Issue-Based Campaign (PICaN).

The PDP candidate alleged that Kaduna State’s total public debt had reached approximately ?1 trillion, warning that the debt burden could undermine the government’s ability to provide essential services and improve residents’ living conditions.

‘Currently, Kaduna State is in a debt trap. The total public debt of Kaduna State is ?1 trillion’.

He further claimed that the debt translated into a significant financial burden for residents, arguing that the state needed a more accountable and sustainable approach to public borrowing and expenditure.

According to him, the state’s debt profile, alongside poverty, poor learning outcomes and high out-of-pocket healthcare expenses, underscores the need for a new approach to governance.

Bawa cited figures which he said showed that Kaduna State’s external debt stood at $684.29 million, while its external debt-to-revenue ratio had risen to 312.66 per cent, exceeding the 150 per cent limit he referenced during his presentation.

He also highlighted what he described as persistent development challenges in the state, including multidimensional poverty, learning poverty and the high cost of accessing healthcare.

However, the figures presented by the candidate were not independently verified at the event.

In his presentation, Bawa compared Kaduna State’s debt profile under previous PDP administrations between 1999 and 2015 with the period of All Progressives Congress (APC) administrations from 2015 onward.

He claimed that the state’s external debt increased from $226.37 million during the period he associated with PDP administrations to $684.29 million under APC administrations.

He also put domestic debt at ?49.85 billion during the PDP period and ?84.64 billion during the APC period.

Explaining why he considered the comparison necessary, the candidate said his proposed administration would be guided by the PDP manifesto and would prioritise continuity in policies that deliver tangible benefits to residents.

‘I am a PDP candidate, and my manifesto is guided by the PDP manifesto,’ he said.

He added that governance should be driven by clear policy commitments rather than political arguments over borrowing.

Bolick, Winston push Road Warriors one win away from PBA semis

– Robert Bolick and Schonny Winston produced 31 points each to push the NLEX Road Warriors to a huge 124-117 victory over the Phoenix Fuel Masters in Game 2 of their PBA Governors’ Cup quarterfinal clash Wednesday at the Ynares Center in Antipolo.

Bolick and Winston carried the scoring cudgels in the game that placed NLEX to one win away from the semifinal round of the import-laden conference.

The former shot 7-of-14 from the field, to go with six rebounds, four assists and three steals, while the latter made 11 of his 15 attempts as he hauled down four boards, stole the ball twice, and dished out a dime.

It was a close fight throughout the early moments of the fourth quarter, with a Marcellus Earlington tying things up at 101-all with 9:09 left.

But nine straight points by the Road Warriors, thanks to the collective effort of Winston, Bolick and Kevin Alas, gave them a 110-101 lead which they carried throughout.

Phoenix tried to get out of the hole but could not make it a one-possession game thanks to timely buckets by Deonte Burton, Enoch Valdez and Anthony Semerad.

Free throws by Burton and Bolick put the finishing touches on the win that gave the Road Warriors a 2-0 lead in the best-of-five series.

Burton finished with 24 points, as well as 10 rebounds, two assists and two steals. Alas chipped in 12 points off the bench.

Earlington paced the Fuel Masters with 22 points, nine rebounds, three assists, three blocks and a steal. Ricci Rivero and Kai Ballungay had 21, markers each, while Gian Mamuyac produced 18 points, eight assists, four rebounds, three steals and a block off the bench.

NLEX could stamp a ticket to the next round on Saturday, 5:15 p.m., at the Ninoy Aquino Stadium in Manila.

Rose Jean bags bronze in IWF world tourney

Rose Jean Ramos opened the Philippines’ Olympic weightlifting qualifying campaign with a bronze medal at the International Weightlifting Federation (IWF) World Championships on Tuesday at the Ningbo Olympic Center in China.

The 20-year-old Ramos, younger sister of national weightlifter Rosegie, placed third in the women’s 49-kg snatch with an 86-kg lift.

North Korea’s Ri Song Gum swept the gold medals in snatch (92 kg), clean and jerk (119 kg), and total (211 kg). China’s Zhao Jinhong took all three silver medals with 91 kg in snatch, 116 kg in clean and jerk, and a 207-kg total.

Ramos placed ninth in clean and jerk with 92 kg and fifth overall with a total of 181 kg.

Although the women’s 49-kg division is not an Olympic weight class for the 2028 Los Angeles Games, Ramos can carry her accumulated ranking points to the Olympic 53-kg division.

Asian Games bronze medalist Albert Ian de los Santos will compete in the non-Olympic men’s 70-kg division on Friday. His ranking points can count toward the Olympic 75-kg category, provided he meets the qualification requirements.

‘They must compete in at least five Olympic qualifying events. If they compete in a non-Olympic weight class, they can carry their ranking points once they compete in an Olympic weight class,’ Coach Allen Diaz told the BusinessMirror on Wednesday.

The Los Angeles 2028 qualifying program features six weight classes each for men and women. The men’s divisions are 65 kg, 75 kg, 85 kg, 95 kg, 110 kg, and +110 kg, while the women’s are 53 kg, 61 kg, 69 kg, 77 kg, 86 kg, and +86 kg.

Unlike the Paris Games, where the top 10 athletes in each weight class earned qualification slots, Los Angeles 2028 will offer slots to only the top eight.

Two-time Olympian Elreen Ann Ando will compete in the women’s 61-kg division on Saturday. Rosegie Ramos is scheduled to compete in the 53-kg division on Thursday, while Kristel Macrohon will see action in the 69-kg division next week.

Housing Construction Must Serve Needs Of Hardworking People First – UN Expert

The UN Special Rapporteur on the right to adequate housing, Koldo Casla, has warned housing affordability risks becoming a misnomer if policies are not targeted to address the needs of the working people with low incomes, which in fact are the majority of the population.

In a statement at the conclusion of an official visit to Ghana, Casla welcomed the adoption of several policies concerning housing in recent years, praised Ghana’s diplomatic leadership in relation to reparations for historical injustices, expressed admiration for Ghanaians communal spirit, and showed sincere gratitude to the Ghanaian people for their hospitality and generosity during his visit.

‘During the visit, I observed the housing construction and physical transformations taking place primarily in Accra. I could see flashy billboards around the capital promoting real estate investments at stratospheric prices far from reach for the average Ghanaian.

‘Many of these properties remain vacant, which suggests that much of the construction in wealthy parts of Accra seem to meet speculative financial ends other than satisfying the right to adequate housing of the population,’ the Special Rapporteur said.

He urged the government to come to terms with the fact that general unaffordability of formally built housing gives many Ghanaians no choice but to find their way into informal settlements or to rely on substandard housing.

About 31% of the urban population lives in informal settlements in Ghana, and conservative estimates put the number of people in homelessness at around 100,000, 60,000 of whom would be children.

The Special Rapporteur encouraged the authorities to actively listen to the needs of people living in poverty in the design of public policies.

‘The threat of forced evictions without prior consultation and proper compensation must end,’ he said.

More than a third of Ghanaians pay a rent for their homes, and the proportion rises to more than 40% in urban areas.

The Special Rapporteur invited the Government to strengthen the Rent Control Department and all relevant institutional mechanisms so they can effectively monitor and limit rent increases and to protect tenants from extortionate rent advances.

Casla noted the damaging and profoundly unfair effects that climate change is having in northern communities affected by droughts, southern communities suffering with flooding, and informal settlements struggling with ever warming temperatures.

The Special Rapporteur stressed that authorities must prioritise the preparedness of local governments to mitigate the worst effects of flooding and other climate-related disasters. The international community should support these efforts in the spirit of common but differentiated responsibilities.

‘Ghana has shown remarkable leadership advocating for the recognition of the historical injustice of slavery and colonialism. Ghana has been a beacon of democratic stability in the region since the early 1990s. When it comes to the right to housing, may Ghana lead by example. West Africa needs Ghana’s human rights leadership, and the Ghanaian people desperately need their housing rights,’ he said.

Shinichi Suzuki eyes breakthrough as Philippines chases Asia-Pacific Amateur Championship title

As a kid, Shinichi Suzuki would make-believe that his next putt on the putting green was to win the Masters or The Open.

This week, the 18-year-old from the Philippines will driven by his childhood dreams of playing in those majors as the winner of the Asia-Pacific Amateur Championship at the Te Arai Links, which starts on Thursday, will earn coveted spots in both events next year.

‘I still remember when I was like seven, eight years old, I would always be on the practice green, like having this putt to win the Masters, to win The Open. I’m sure almost every golfer does that, and hopefully this week would be a dream come true to be able to play in the Masters and The Open,’ said Suzuki.

It will be his fourth attempt in the prestigious amateur Championship, which was launched in 2009 by the Asia-Pacific Golf Confederation, The RandA and the Masters Tournament to further develop the growth of the game in the region.

Suzuki’s confidence has been boosted by a maiden victory at the Philippine Amateur Open in August, which he credited to a training stint at the AAC Academy in May that served as the catalyst for his good form.

‘Seeing where my game is trending, I like my chances this week. It’s given me a good confidence boost,’ said Suzuki, who finished T30 and T45 in the past two years after missing the cut on his AAC debut in 2023.

‘I had the yips on my chipping, and I had been struggling before the Academy. During the week, I had a great session with coach Scott Barr, who is our short game specialist and he brought me back to the basics, and we gradually tried to know which part of the game I needed to work on and I could capitalize on. After the Academy, I realized my short game is finally back and I gained a lot of confidence.’

Picking up the sport as a child came naturally, as his father, Yukio, was the club-fitter for legendary Japanese golfers Jumbo and Jet Ozaki, who amassed more than 100 tournament wins combined in Japan. Suzuki intends to head to the U.S. soon to advance his amateur career through the collegiate system and knows a strong showing at the Asia-Pacific Amateur will help his cause.

‘I’m just grateful to be here for my fourth time. I still remember playing my first Asia-Pacific like it was yesterday. I can’t wait to play this week. It’s one of the best golf courses in the world, probably my favorite stop on the list,’ he said.

‘It’s going to be a lot windier this week. The greens are pretty firm. We couldn’t really stop the ball on the greens and we just have to be precise on where we land our approach shots.’

No golfer from the Philippines has won the Asia-Pacific Amateur since its launch in 2009, with Lloyd Jefferson Go’s fourth-place finish at the 2018 edition in Singapore being the best result.

Suzuki hopes to contend at Te Arai Links, which has 16 holes that overlooks the Pacific Ocean.

‘There’s a big expectation. Of course, winning this tournament would get you to the Masters and The Open. We trust in our preparation, and we know we are capable of winning this tournament.’

Jaden Dumdumaya, who is ranked 67th in the World Amateur Golf Ranking, and Rolando Bregente, runner-up at the Philippine Amateur behind Suzuki, will both make their Asia-Pacific Amateur debuts, while Chris Remata will aim to improve on his debut performance in Dubai last year, when he missed the cut.

Bregente, 24, said: ‘I’m excited for this opportunity, especially knowing the champion will get into the Masters and The Open. I’m looking to make the cut to make it a good first-time experience. I hope to keep getting into this tournament to test my game against the best in the region.

Remata added: ‘Despite the winds being the main challenge, it’ll be fun to play here. In the Philippines, one of the golf courses that I play on is pretty similar with the winds so I’ve got the experience and I enjoy the challenge. This tournament is big opportunity, it’s amazing.’ (Contributed story/AAC)

Samsam eyes SRP as Talisay City’s business corridor

Mayor Samsam Gullas wants to transform the Talisay City’s side of the South Road Properties (SRP) into a thriving commercial corridor lined with hotels, restaurants, coffee shops and other establishments to attract investors and generate jobs for residents.

Gullas outlined his vision during the second City of Talisay Business Summit and Trade Expo, calling on the private sector to work with the city government to identify investment opportunities and improve policies supporting commercial development along the SRP.

‘I have always envisioned SRP as more than a road connecting Cebu City, Talisay, and the southern of Cebu. I see SRP as an economic corridor,’ Gullas said.

He cited the commercial establishments in service areas along the South Luzon Expressway (SLEX) and North Luzon Expressway (NLEX) in Metro Manila as models for developing the Talisay side of the SRP.

‘When you stop at certain service areas, you do not see only gas stations. You see restaurants, coffee shops, convenience stores, and other commercial establishments,’ he said.

‘And I have asked myself, why can’t we develop similar commercial opportunities along the Talisay side of the SRP?’ he questioned.

Gullas said the city’s comprehensive land use plan (CLUP) provides a long-term framework for land use, including commercial development along the SRP corridor.

He said the city had acted early to establish the plan, giving affected businesses a 10-year transition period, with 2030 set as the target for compliance with the designated land-use classifications.

‘We wanted to give businesses time to adjust while establishing a clear direction in the area,’ Gullas said.

He pointed to malls and a convention center on the Cebu City side of the SRP as examples of developments that attract visitors, events and commercial activity.

Talisay, he said, should complement these establishments rather than compete with them by providing accommodation and services for visitors seeking alternatives to five-star hotels.

‘Some need clean and affordable, comfortable places to stay. Budget hotels, mid-range hotels, pension houses,’ he said.

To attract investors, Gullas proposed working with the Talisay Chamber of Commerce to develop an investment code tailored to businesses along the corridor.

‘Let us work together on crafting an investment code that can encourage commercial development along the Talisay side of the SRP,’ he said.

‘Let us identify appropriate incentives, the businesses that we should attract, and the obstacles government can help address together with all of you.’

In an interview, Gullas clarified that Talisay already has an investment code but needs to review and amend it to better address the requirements of the SRP corridor and other parts of the city.

He said he would meet with the city administrator, city legal office and chamber representatives, including its board, to discuss how other local government units had developed their investment codes.

The city is also considering amendments to its public-private partnership (PPP) ordinance and joint venture arrangements to support development, he said.

Traffic congestion remains a challenge along the SRP corridor, and Gullas said the city would need to coordinate with relevant stakeholders as commercial activity expands.

He cited the City Development Committee, which brings together the city planning and legal offices, disaster management personnel, the traffic office and the Business Permits and Licensing Office (BPLO).

The committee aims to streamline the process for businesses seeking to establish operations in Talisay by allowing them to address concerns and documentary requirements in one meeting rather than going from office to office.

Gullas said the city could not dictate what businesses investors should establish but could create conditions that would make Talisay more attractive to investors.

‘I can’t tell them what to do because we can’t tell businesses what to do. All we can do is create an environment and an atmosphere that they can be comfortable with investing in the city of Talisay,’ he said.

Talisay Chamber of Commerce president Macario Cabusas II said the summit aimed to translate discussions about the city’s economic potential into concrete opportunities for businesses and residents.

‘Talisay is growing. It cannot be denied. And the growth comes from both opportunities and challenges,’ Cabusas said.

He said cooperation between the government and private sector would be essential to ease doing business, attract more investments and ensure that economic growth translates into meaningful progress.

Gullas said the success of development efforts should be measured not only by the volume of investments entering Talisay but also by the opportunities they create for residents.

‘The success of our development should not be measured only by how much investment comes into Talisay, but how much opportunity that investment creates for our people,’ he said.

Now it’s turn of Lankan bowlers to put on show

First it was the Sri Lankan batters who took England by the collar, yesterday at the Gaddafi Stadium, it was their bowlers who put on an outstanding performance to rout Pakistan for 110 and bring their side an eight-wicket win in emphatic fashion to book a place in the Pakistan ODI Tri-Series final.

After months of modest showing the Sri Lankan team needed this. Pakistan was thoroughly outplayed, but will have a chance to hit back when the two sides meet again in the final on Saturday.

But yesterday belonged entirely to Sri Lanka who were at their absolute best. Their bowlers tore through Pakistan’s batting line-up to dismiss them for a mere 110 in 25.3 overs, with Dilshan Madushanka leading the charge with a career-best 5/34, while the rest of the attack chipped in with wickets of their own.

Pakistan’s top-order woes continued, and this time, there was no rescue act from the middle or lower order. A fifer in an ODI is a rare thing and Madushanka will cherish it. It was his bouncer that did most of the damage. Pakistan invited to bat first started off on in a scratchy manner. They lost Fakhar Zaman and Maaz Sadaqat early. Babar Azam looked good before again throwing it away. He got a good ball from Eshan Malinga which jagged in to trap him lbw. Sri Lanka rotated their bowlers well to pick up wickets at regular intervals and none of the Pakistani batters looked in for a big haul. They seemed to be in a hurry with a few dismissals being soft ones.

The run chase was never going to be a problem, but Avishka Fernando and Kusal Mendis will rue their missed opportunities to get some runs. Kamindu Mendis (62* off 60 balls, 8 fours, 2 sixes) and Pavan Rathnayake (23*), however, had no trouble getting the runs, stitching together an unbeaten 52-run stand off 56 balls to take Sri Lanka over the line in just 18.1 overs.

Sri Lanka had handed the previously unbeaten Pakistan a thumping defeat and a timely wake-up call. There is still one league game to go, with Sri Lanka taking on England on Thursday, but that will now become a dead rubber and will have no bearing on the final standings.

EFCC recovers additional $40million in ongoing Nestoil recovery, total receipts hit $100million

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 2, has recorded another major breakthrough in its ongoing investigation involving Nestoil Limited, Neconde Energy Limited and a consortium of lenders, with the recovery of an additional US$40 million US dollars in favour of the Banks.

The latest recovery, made on Monday October 19, 2026 brings the total amount recovered in the course of the investigation and ongoing repayment process to US$100 million US dollars.

The development follows the earlier recovery of US$60 million US dollars which was reported on Monday, August 17, 2026.

Though, the media department of the EFCC could not be reached to comment on this landmark recovery, the lenders opined that the additional US$40 million US dollars represents a significant step forward in the recovery process.

The ongoing investigation centres on certain financial transactions involving Nestoil Limited, Neconde Energy Limited and a consortium of lenders. The EFCC’s intervention has, among other objectives, focused on facilitating the recovery of outstanding obligations owed to the lenders while simultaneously safeguarding the interests of depositors in the various banks.

Following a meeting chaired by the Executive Chairman of the EFCC, Mr. Olanipekun Olukoyede, a structured repayment arrangement was reached between Nestoil and the consortium of lenders. The agreement provided a framework for the orderly repayment of the outstanding indebtedness, subject to the terms agreed by the parties and the applicable laws.

The first tranche of US$60 million was subsequently paid to the lenders, while the latest payment of US$40 million US dollars brings the cumulative recovery under the arrangement to US$100 million US dollars.

The consortium of lenders are happy and has welcomed the latest payment as a significant and encouraging development in the recovery process. The lenders have also reaffirmed their commitment to continued cooperation with the EFCC and other relevant stakeholders towards ensuring the full recovery of outstanding obligations.

The lenders considers the recovery significant not only from the perspective of the funds involved but also because of its potential impact on the stability and integrity of Nigeria’s financial system. The recovery of funds owed to financial institutions ultimately serves to protect the interests of lenders, depositors and other legitimate stakeholders whose funds are deployed in the financial system.

While the cumulative US$100 million US dollars recovery represents substantial progress, the recovery process is not yet concluded, as a significant portion of the outstanding indebtedness remains to be settled in accordance with the agreed repayment plan.

The lenders appreciate the efforts of the EFCC for deploying its investigative powers professionally and diligently in accordance with its statutory mandate, with the ultimate objective of safeguarding Nigeria’s financial system and strengthening public confidence in the fight against economic and financial crimes.

Shopping for clean beauty essentials? Look for the Green Finds badge at SM Store

Beauty routines have evolved beyond simply helping people look their best.

Increasingly, consumers are paying attention not only to what goes on their skin but also to how those products are made, packaged and ultimately affect the environment.

This growing shift has fueled the rise of clean beauty-a more mindful approach that values thoughtfully selected ingredients, responsible packaging and sustainable practices. Rather than requiring a complete overhaul of one’s skincare or haircare regimen, clean beauty encourages simple, practical changes that can make a lasting impact over time.

Start with simple swaps

Among the easiest ways to embrace the movement is by switching to refill packs.

The Naturals by Watsons Aloe Vera Shampoo Refill, for instance, allows consumers to reuse their existing shampoo bottles instead of purchasing new ones with every refill.

The biggest sustainability advantage of refill packs is that they use significantly less plastic than buying a new bottle each time. While refill pouches are not always easier to recycle, they help prevent plastic waste from being created in the first place-making reduction and reuse more meaningful environmental choices. At the same time, the aloe vera formulation helps keep hair and scalp feeling refreshed and healthy.

Gentle care for healthier skin

Clean beauty also means choosing products that work in harmony with the skin.

The Neutrogena Hydro Boost Water Gel Cleanser effectively removes dirt, oil and makeup while helping maintain the skin’s natural moisture barrier, making it a dependable choice for everyday cleansing. Those with dry or sensitive skin may appreciate the gentle cleansing and soothing oat-based formula of the Aveeno Skin Relief Body Wash.

Nature-inspired hair care

Hair care has likewise embraced nature-inspired formulations. The Herbal Essences Coconut Milk Conditioner nourishes hair with coconut milk, leaving it softer, smoother and easier to manage while reflecting consumers’ growing preference for ingredients inspired by nature.

Beauty meets innovation

Choosing cleaner products doesn’t mean sacrificing performance.

The Olay Regenerist Micro-Sculpting Cream demonstrates how innovation and sustainability can go hand in hand, offering effective anti-aging skincare while supporting brands that continue to improve their environmental footprint.

Small choices, lasting impact

Ultimately, clean beauty isn’t about perfection. It’s about making more thoughtful decisions whenever possible-refilling instead of replacing, choosing products with carefully considered formulations, using what you already have before buying more, and supporting brands committed to more responsible practices.

Individually, these choices may seem small. Collectively, however, they help create a more conscious way of caring not only for ourselves but also for the planet.

billboards do the job socmed

Discover these clean beauty essentials and more through SM Green Finds at SM Store, where every thoughtful purchase is another step toward a more sustainable lifestyle.

NGX sheds N719bn as banking stocks drag market lower

The Nigerian equities market shed N718.95 billion in market value on Wednesday as renewed selling pressure on heavyweight stocks, particularly banking shares, dragged the benchmark index lower and weakened investor sentiment.

The Nigerian Exchange Limited All-Share Index declined by 0.44 per cent to close at 252,882.78 points, moderating its year-to-date return to 62.51 per cent, while total market capitalisation fell to N164.19 trillion.

The downturn reflected broad-based weakness across major sectors, with the banking index recording the steepest decline as losses among listed stocks outweighed gains recorded by a smaller number of equities.

Market breadth remained negative, with 30 stocks closing lower against 25 gainers, translating to a breadth ratio of 0.8x and indicating that selling pressure extended beyond a handful of heavyweight stocks.

First Holdco, Triple G and eTranzact led the decliners, underscoring the fragile state of investor sentiment despite the market’s substantial gains so far this year.

The banking sector was the worst-performing segment of the market, declining by 2.36 per cent, followed by the industrial goods sector, which shed 0.31 per cent. The insurance index fell by 0.13 per cent, while the oil and gas sector recorded a marginal decline of 0.03 per cent.

Consumer goods stocks provided limited support, advancing by 0.13 per cent, while the commodities index closed flat.

Trading activity presented a mixed picture, with the volume and value of transactions falling sharply even as the number of deals increased.

A total of 404.11 million shares valued at N27.91 billion changed hands in 39,012 transactions. Trading volume declined by 92.28 per cent, while turnover fell by 93.68 per cent. In contrast, the number of deals increased by 8.53 per cent.

With the year-to-date return standing at 62.51 per cent, the market remains substantially higher than its level at the beginning of 2026. However, further declines in heavyweight stocks could erode recent gains if investors continue to reduce their positions.