’A Share for Everyone, A Unit for Everyone’ launched at Monaragala and Batticaloa Investor Forums

The Colombo Stock Exchange (CSE), together with the Securities and Exchange Commission of Sri Lanka (SEC) has launched its ‘A Share for Everyone, A Unit for Everyone’ (Samata Kotasak, Samata Ekakayak) initiative at the investor forums in Monaragala and Batticaloa last week as part of an ongoing countrywide initiative to broaden investor participation.

The forums were held in Monaragala on 16 July at the Silanrich Hotel and in Batticaloa on 18 July at the FG Golden River Hotel. The forums attracted over 500 participants across both locations.

The ‘A Share for Everyone, A Unit for Everyone’ concept, developed by the SEC Chairman Senior Prof. D.B.P.H. Dissabandara, aims to promote a shared commitment to creating wealth and value within a fair, efficient, orderly, and transparent capital market by ensuring broad and accessible participation for all.

Under this initiative, the SEC and CSE will conduct investor forums across the country to enhance investor education and awareness, while encouraging greater investor participation beyond the Western Province. Leveraging the CSE’s nationwide presence and growing interest in the equity market, the programme will provide investors with increased access to the Sri Lankan capital market through both stockbroking firms and unit trust management companies.

The initiative will also offer forum participants the opportunity to receive investment coupons sponsored by the SEC and CSE, which can be used to support their equity investments.

The Investor Forums opened with presentations by senior economists from the Central Bank of Sri Lanka, including N. B. Janagan and Kasunka Herath, who provided a high-level overview of the country’s macroeconomic landscape.

The session also featured presentations by representatives of leading stockbroking firms, including First Capital Holdings PLC Vice President – Corporate Finance and Advisory Atchuthan Srirangan and HNB Stockbrokers Director – Sales Kapila Pathirage offering participants an overview of the capital market and its investment opportunities

Representatives from the unit trust industry conducted an introductory seminar on the operation and benefits of unit trusts. Speakers included Softlogic Asset Management Ltd., Manager- Business Development Kumudu Kekirideniya and Softlogic Asset Management Business Development Officer Mohamed Ashfer who introduced participants to the fundamentals of unit trust investing.

Both forums concluded with the highlight panel discussion and Q and A segment, which brought the diverse perspectives of the speakers and members of the SEC and CSE together to explore Sri Lankan equities. Panellists included the forums speakers as well as CSE Executive – Vice President Niroshan Wijesundere, as well as SEC Senior Manager of External Relations Sheena Goonaratna and Manager of External Relations Nimal Kumarasinghe.

During the investor forums, prospective investors were able to meet representatives from stockbroker firms and unit trusts to open accounts, with the first four-hundred participants being eligible to receive investment coupons gifted by the SEC and CSE.

The forums were conducted amidst a remarkable six-year growth in the capital market which saw the All-Share Price Index (ASPI) rise from 4,846 points in May 2020 to 22,310.80 points by the end of May 2026. This represents a growth of 360% and a compound annual growth rate (CAGR) of approximately 28.98% – with capital gains remaining tax-free.

FG targets transparent tax system through digital reforms

The Federal Government has reaffirmed its commitment to achieving a transparent, fair and technology-driven tax system, especially with digital reforms to improve tax administration and rebuild public confidence.

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, stated this on Thursday at a hybrid stakeholders’ engagement convened in Lagos by the Office of the Tax Ombud.

The engagement has its theme as ‘Promoting Fairness, Transparency and Trust in Tax Administration in Nigeria’, brought together government officials, professional bodies and private sector stakeholders to discuss measures for improving the nation’s tax system.

Oyedele, represented by Mr Olufemi Olarinde, Special Adviser on Tax Policy to the Executive Chairman of the Federal Inland Revenue Service (FIRS), said the government’s ongoing tax reforms were designed to create a system where taxpayers pay only what they legitimately owe.

He said the reforms would reduce opacity, minimise human discretion and establish a predictable, accountable and efficient tax administration framework.

‘If we get fairness, digitisation and harmonisation right, we will earn the trust of our citizens, and trust is the true currency of any tax system,’ Oyedele said.

The minister said digitising tax processes would improve transparency, reduce corruption and inefficiency, while harmonising revenue collection across government would address multiple taxation and lower compliance costs for taxpayers.

He described the Office of the Tax Ombud as a major step toward strengthening accountability, adding that taxpayers deserved quality service and an independent platform to protect their rights and resolve disputes fairly.

Oyedele reaffirmed President Bola Tinubu’s commitment to an efficient and accountable tax regime, urging stakeholders to support reforms through continuous consultation and collaboration.

The Chief Executive and Tax Ombud of Nigeria, Dr John Nwabueze, said the engagement was aimed at strengthening partnerships with professional bodies to improve confidence in the tax system and encourage voluntary compliance.

Nwabueze said effective tax administration depended on public trust, noting that citizens were more willing to comply when they considered the system fair, transparent, impartial and predictable.

He said the Office of the Tax Ombud, established under the Joint Revenue Board (Establishment) Act, 2025, complements tax authorities by protecting taxpayers’ rights and independently addressing complaints.

He added that the office had introduced digital platforms, including a website and Case Management System, alongside taxpayer education programmes, to improve access to redress and enhance service delivery.

During a panel session, President of the Nigerian Bar Association (NBA), Afam Osigwe (SAN), said a fair tax system must be transparent, simple and free from harassment and corruption.

Osigwe urged government to ensure taxpayers could see the impact of their contributions through improved infrastructure and public services, saying visible outcomes would encourage compliance.

He also called for stronger legal backing for the Tax Ombud, noting that its decisions were largely advisory under the existing framework.

Responding, Nwabueze said steps were being taken through the National Assembly to strengthen the office’s powers and improve compliance with its recommendations.

Representing the Nigeria Employers’ Consultative Association (NECA), Dr Olumuyiwa Adebayo, urged government to expand the tax base rather than increase pressure on existing taxpayers.

Adebayo said multiple tax audits, investigations and overlapping compliance requirements increased the cost of doing business and discouraged investment.

Vice President of the Institute of Chartered Accountants of Nigeria (ICAN), Dr Etofolam Osuji, said transparency and trust remained essential for effective tax administration and voluntary compliance.

Deputy Vice President of the Chartered Institute of Taxation of Nigeria (CITN), Dr Titilayo Fawokan, urged stronger protection of taxpayer rights, independent complaint channels and wider public education.

The Executive Secretary of the Joint Revenue Board and moderator of the panel, Mr Olusegun Adesokan, said digital platforms deployed by the Tax Ombud had made it easier for taxpayers to submit complaints and seek redress.

Stakeholders agreed that digital innovation, stronger institutions and improved taxpayer education were critical to reducing disputes and strengthening compliance.

Earlier, the Special Adviser to the Lagos State Governor on Taxation and Revenue, Mr Abdul Kabir Ogungbo, endorsed the establishment of the Tax Ombud as a major step towards improving transparency and taxpayer confidence.

Ogungbo said the office would provide an independent platform for resolving disputes involving tax assessments, payments and related matters.

He said concerns over multiple taxation were largely driven by public perception arising from different agencies carrying out statutory responsibilities.

According to him, Lagos introduced the Lagos Revenue Portal in 2024 to centralise billing, payments, reconciliation and refunds through a single digital platform.

He added that the state planned to integrate collections by local governments and ministries, departments and agencies into the platform to further simplify compliance.

Stakeholders commended the Federal Government’s tax reform agenda and called for sustained engagement to promote transparency, accountability and trust in Nigeria’s tax administration.

They expressed confidence that digital reforms and stronger taxpayer protection mechanisms would encourage voluntary compliance and improve confidence in the country’s tax system.

ADC to Tinubu: Trump’s letter won’t save you from defeat

The African Democratic Congress (ADC) has said US President Donald Trump’s purported letter to President Bola Ahmed Tinubu, claiming his endorsement by the American President, will not save him from electoral defeat.

Reacting to the development on Thursday through its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said that celebrating a diplomatic communication from the President of another country only betrayed the President’s ‘desperation for any form of validation.’

The ADC said the letter does not reflect the country’s worsening insecurity and ignores the painful reality that hundreds of women and children are still being held captive in Borno and Kaiama in Kwara State, while several communities in Benue and other parts of the country continue to live under constant fear.

It said the Tinubu administration would therefore do well to devote less energy to celebrating letters of courtesy from abroad and more to delivering measurable results at home.

The party said Nigerians would ultimately not judge this government by the letters it received from foreign capitals but by whether it improved the lives of the people it was elected to serve.

The statement read: ‘The African Democratic Congress has noted the Presidency’s attempt to present President Donald Trump’s letter to President Bola Ahmed Tinubu as though it were a referendum on the state of the nation. It is not. While we hold the office and person of the President of the United States in high esteem, it is important to note that diplomatic correspondence between heads of state is a normal feature of international relations. Countries cooperate, leaders exchange views, and letters are exchanged.

‘What is apparent, however, is this administration’s desperation to seize upon any gesture of international recognition as proof of success at home. A letter from a foreign president, however well-intentioned, cannot substitute for the verdict of the Nigerian people. The true measure of any government is not what is written about it abroad, but what its citizens experience every day.

‘That is why the celebration surrounding this letter is difficult to understand. For the millions of Nigerians still living with the consequences of this government’s failures, President Trump’s communication changes nothing. It did not say that insecurity has been overcome or that Nigerians can once again travel freely, farm safely, and sleep without fear.

‘Indeed, it is telling that even as the Presidency chose to publicise President Trump’s letter, the United States Department of State’s travel advisory on Nigeria remained unchanged. While the Presidency celebrated what it regards as an endorsement from the White House, the official U.S. government advisory continued to place parts of Nigeria under Level 3 and Level 4 travel warnings, urging American citizens to reconsider travel because of crime, terrorism, civil unrest, kidnapping, and other security concerns.

‘We therefore wonder how correspondence from a government that designates several Nigerian states as ‘Do Not Travel’ areas can be regarded as an endorsement. That advisory alone is a reminder that, whatever diplomatic courtesies may be exchanged between presidents, the international assessment of Nigeria’s security challenges remains far removed from the picture the Presidency is eager to paint.

‘The daily reality of Nigerians is shaped not by diplomatic correspondence, but by the guarantee that they can go about their lives without falling victim to violent crime or terrorism. On these defining issues, no letter offers relief, and no foreign commendation can replace the real protection of citizens.

‘For all intents and purposes, President Trump’s letter is simply communication between one president and another. It does not amount to an endorsement of this government’s overall performance, nor does it absolve the administration of its responsibility to confront the challenges that continue to weigh heavily on more than 200 million Nigerians.’

On Wednesday, the Presidency released a statement in which United States President Trump commended President Tinubu for his ‘decisive leadership on behalf of the Nigerian people’ in tackling insecurity and terrorism.

In a letter dated July 6, 2026, President Trump lauded Tinubu’s commitment to addressing Nigeria’s challenges, particularly the violence targeting Christian communities.

‘It is a true honour to stand with you in the fight against these terrorists and to make the Federal Republic of Nigeria stronger and more prosperous,’ Trump wrote.

Minority caucus, PC elections, SJB and the new Constitution noose

The CPA’s latest poll made headlines. The headline-getter was the contrast between President AKD’s approval rating and that of Opposition Leader Sajith Premadasa. ‘…The survey found that 75.5% of respondents are satisfied with President Dissanayake’s performance, compared to 29.4% for Opposition Leader Premadasa’.

The proof of the pudding is in the eating. If AKD was even remotely as popular as the CPA figures claim, it just does not figure why the ruling JVP-NPP fails to:

Minority bloc

Six parliamentary parties representing the Tamil and Muslim people have constituted themselves into a single political platform. I call it a minority bloc or caucus.

In a revival of an old term, it is billed an in-gathering of the Tamil and Muslim parties, collectively representing the ‘Tamil-speaking people’. It consists of the Ilankai Tamil Arasu Kachchi (ITAK), Sri Lanka Muslim Congress (SLMC), Tamil Progressive Alliance, All Ceylon Makkal Congress (ACMC), Democratic Tamil National Alliance (DTNA), and the Ceylon Workers’ Congress (CWC). The leading personalities of the new bloc are M.A. Sumanthiran, Jeevan Thondaman, Rauff Hakeem, Mano Ganeshan, Selvam Adaikalanathan, and Rishard Bathiudeen.

Coverage in the mass media and social media have focused on a supposed split in the Opposition where several parties belonging to Sajith Premadasa’s Samagi Jana Sandhanaya are members of the new minority bloc. This is a grey area, because nothing prevents the six-party bloc acting as a caucus on minority issues while remaining with and within the Samagi Jana Sandhanaya, or returning to it at a national election. But it could also mark an exit from the SJS.

Social media shows a paranoid alert about a convergence of minorities and a near-hysterical call for majority unity to counter it.

As a student of politics, I see nothing amiss in the formation of a minority caucus in the legislature. The USA has long had a respected Congressional Black Caucus.

Tamil Nadu factor

Gajendran Ponnambalam and his party are not members of the new bloc. In fact, the timing of its emergence seems to make it something of a counter to the splash that Ponnambalam made in Tamil Nadu when he met the youthful new Chief Minister.

On his trip to Chennai, Ponnambalam called for political parties in Tamil Nadu and Sri Lanka to form a joint forum which will commit itself to Federalism for the Tamil people of Sri Lanka.

Whether this will happen some way down the road one doesn’t know. But the opening for him to raise such a slogan across the water, comes with the political vacuum at the provincial level in Sri Lanka, with the extended deep-freeze of Provincial Councils by the Anura Dissanayake administration.

If we had elected Provincial Councils up and running, that would have been Sri Lanka’s answer to this new demand. The Government and our able High Commissioner would only have needed to point to the PC system which emanates from the Indo-Sri Lanka Accord. Now, we have nothing to say in our defence; no political shield to raise. The situation is wide open for radical Tamil nationalists like Gajan Ponnambalam to overtly solicit Tamil Nadu political interference in our politics.

While Ponnambalam beckons Tamil Nadu political interference-and he may not be the only one, as it might prove politically contagious among Tamil politicians-the SJB’s Dr. Harsha de Silva has resumed his public crusade to hook up Sri Lanka’s economy with that of Tamil Nadu. Such entanglement would only give Chennai a greater handle over Sri Lanka, and it would be hopelessly naive to imagine that Tamil Nadu’s pan-Tamil nationalism and competitive electoral compulsions will not drive its economic behaviour in the direction of the assertion of control over the neighbour.

Why would any patriotic Sri Lankan politician, Govt or Opposition, wish to confer Tamil Nadu with a potential handle over Sri Lankan affairs-economic, ethnic and geopolitical?

PC elections vs. new Constitution

As for the minority caucus (or ‘Minority Six-Pack’), my critique is not its formation, but the content of its agenda. Firstly, it has a glaring gap. Secondly, it is headed in two contradictory directions.

Its joint communique says:

‘ ‘…any new Constitution should provide the maximum possible devolution of powers within a framework that ensures justice, equality, and meaningful power-sharing’.

‘…The representatives…expressed hope that a common approach on these issues would contribute to reconciliation, democratic governance, and the protection of the rights of all communities in Sri Lanka…’

A country’s Constitutional framework-and certainly that of Sri Lanka and any country of the global South-must have as founding objectives, the safeguarding of National Independence, unity, territorial integrity and ensuring the sovereignty of the people. However, the minority platform does not have any such overarching national/State goals. It reduces the aims of the Constitutional framework to justice, equality and meaningful power-sharing, with no commitment to the unity, territorial integrity and sovereignty of Sri Lanka as a single country. ‘Reconciliation, democratic governance, and the protection of the rights of all communities’ are valid and valuable but the absence of an overarching commitment to Sri Lanka as a State, a country, not simply a (geographic) place, is a dangerous political Freudian slip.

The minority platform wants the Provincial Council election expeditiously held. It also wants Constitutional reform or a new Constitution. ‘…They have identified three immediate priorities: Constitutional reform with meaningful power-sharing; the conduct of PC elections without further delay; and the resolution of land issues affecting Tamil, Muslim, and Malaiyaha Tamil communities….’ (https://www.ft.lk/news/Tamil-parties-urge-President-to-fulfil-pledges-bring-new-Constitution-hold-PC-polls-and-grant-land-rights/56-794632)

The last time the Tamil and Muslim parties sought a new Constitution making for greater power sharing than in the existing Constitution (i.e., the 13th Amendment) was 2015-2019. The upshot is that they are now lobbying plaintively for the holding of Provincial Council elections which they had enjoyed even in wartime but find jammed-up indefinitely by the ‘more meaningful’ amendments they helped introduce. The new, non-unitary Constitution project also helped elect Gotabaya Rajapaksa President.

The time before that, when they held out for a new Constitution during the tenure of President Chandrika Bandaranaike Kumaratunga, the upshot was that her ‘quasi-federal’ political packages were blocked and the backlash secured Mahinda Rajapaksa the candidacy and the presidency.

The Tamil parties forgot the truism that ‘a bird in the hand is worth two in the bush’. The bird in the hand is/was the 13th Amendment. Looking for a bigger bird, the Tamil and Muslim parties seem to have lost the one they held in their hand-the system of elected Provincial Councils (1987). Now they want a bigger bird while also wanting the old one back!

There isn’t a shred of evidence that a new or reformed Constitution would make for greater power sharing with the provinces than the existing 13th Amendment.

The Minority Bloc plus outlier Gajan Ponnambalam fail to recognise the obvious: the 13th Amendment which they want replaced-qualitatively superseded-was the product of a set of forces, factors and circumstances which no longer exist and have been supplanted by forces, factors and circumstances which have moved decisively in the opposite direction.

Black July’83, the LTTE and other armed organisations, the Eelam war, Indira’s India, a pro-devolution left and a ruling UNP that had agreed to devolution in principle, all made for the 13th Amendment enabling devolution to elected provincial administrations within a unitary State -but not beyond.

None of those factors exist anymore. Some exist in reverse. India’s priorities vis-a-vis Sri Lanka have changed. The Eelam war was lost by the secessionists and won by the State. Prabhakaran is dead, the Tigers decimated, the non-LTTE Eelam movement extinguished. The ruling JVP is not ambivalent about devolution as was the UNP, or pro-devolution as was the left led by Vijaya Kumaratunga, but was bitterly hostile to it and remains opposed to provincial devolution as a concept.

The only new card for the Minority Caucus to play is the young Tamil Nadu Chief Minister, but what MGR couldn’t do in wartime with Prabhakaran in play, it is impossible for Thalapathy Vijay to achieve in post-Prabhakaran peacetime.

It would be a commendable feat to retrieve the 13th Amendment, but to expect a new Constitution or a reform to go beyond the 13th Amendment and the unitary State in terms of power-sharing is wildly irrational.

If there is a new system of devolution, it will surely have a smaller unit and/or lesser degree of power-sharing, not a greater one. If it comes to a vote at a referendum, greater devolution will be shot down, as will a new Constitution if it entails greater devolution with or without the executive Presidency. After a defeat, it may be zero-devolution or small-unit devolution that survives. Why should the minority caucus take that risk?

The Minority Six should stick to two of their three demands-hold PC elections swiftly and expedite the processing of return of lands. An all-parties campaign, national and international, demanding Provincial Council elections within a transparent, compressed yet reasonable time-frame, could be legitimately initiated by the parliamentary minority caucus.

SJB’s ‘New Constitution’ illogic

Sri Lankan politics lacks rational thinking. We already have a Constitution which makes for power-sharing (the 13th Amendment) though the latter needs to be unfrozen and reactivated. In any walk of life, when one asks for something new, one must do so either when the old no longer exists and there’s an absence to be filled, or there’s certainty that the new which one will get in exchange for the old, is better than the old which exists.

What gives the minority bloc or the SJB the slightest notion that the new Constitution they are urging the JVP-NPP to introduce, will be better, especially in respect of power-sharing, than the current Constitution?

One can understand the Opposition making a case for a new Constitution, presenting its own ideas, and pledging implementation at an election campaign, when seeking office. That is what JR Jayewardene did in his 1977 election manifesto, having first surfaced the idea in 1966.

But that is not what the SJB and minority bloc are doing. They are lobbying the incumbent President and Cabinet to bring in a new Constitution.

Logically, this means that the SJB trusts the JVP-NPP to produce a Constitution that is more progressive, advanced and enlightened than that which JR Jayewardene, Ranasinghe Premadasa and the UNP introduced (1978), and modified through the 13th Amendment (1987).

Is it only me, or isn’t it surreal to see the SJB expecting-trusting-AKD, Tilvin and the JVP to produce a better Constitution than JR, Premadasa and the UNP?

Isn’t it surreal to see the six-party minority platform expecting-trusting-the JVP which tortured and killed pro-autonomy leftists well before the Indian intervention (university student leader Daya Pathirana) and have never apologised for it, to be architects of a better Constitutional arrangement for greater power-sharing than JR, the UNP and the Government of India produced in 1987?

What of the Opposition’s well-founded fears and warnings that the JVP-NPP is driving towards an authoritarian if not totalitarian system, and that there are many signs of that in the JVP’s politicisation of the power-structures and programs as well as in its public discourse?

The Opposition simply cannot have it both ways. If the JVP-NPP is creeping towards some form of dictatorship, why ask them for a new Constitution which they will only use to further their project of control? A new Constitution would also remove the entrenched, mandatory timeline for the holding of a presidential and parliamentary election. A new Constitution was used as a portal once before (1972) to extend the Government’s term of office. Why run that risk with the JVP-NPP which is ideologically predisposed towards totalitarianism?

Is it that the two Opposition formations -the new minority bloc and the SJB-think that a new Constitution or constitutional reform under the AKD administration is desirable and feasible because the Opposition will produce, articulate and push for enlightened proposals? It is obvious that the Opposition doesn’t have the numbers-the SJB has under 50 and the new Minority Six-Pack has around 20-so how on earth are they going to push through enlightened reform?

The JVP-NPP hardly allows Sajith Premadasa and the Opposition to speak in Parliament, so what makes the Opposition think this Government will magically metamorphose into a benign, enlightened entity which adopts the SJB and the Tamil-speaking bloc’s ‘advanced’ constitutional proposals?

The JVP-NPP doesn’t need the numbers; they have their own. A new Constitution would reflect the JVP’s and its NPP fellow-travellers’ ideas, ideology and political interests, and entrench a monopoly of power. What kind of Opposition can’t figure that out?

Socioeconomic majoritarianism

The Tamil-speaking parties’ platform could be completely flouting the advice given by Lord Soulbury to C. Suntharalingam in 1964. Expressing regret that he didn’t build-in more safeguards for the Tamil minority into the Constitution, he recommended a strategy of mainstream affiliation and participation. His example was the Northern Ireland Protestants’ cooperation with the UK Conservatives in Westminster. (The Catholics leaned towards UK Labour). Lord Soulbury explicitly recommended that the Tamil parties work with the UNP. The UNP space being occupied by its successor the SJB, the delinking/distancing by the minority bloc from Sajith’s SJB implies a rejection of Soulbury’s strategic counsel.

On the other hand, the distancing of the minority bloc from the SJB may be a blessing in disguise. The TNA/ITAK’s lobbying for a new non-unitary/quasi-federal Constitution in place of optimising the 13th Amendment-the result of the Indo-Sri Lankan Accord-did enormous damage to the administrations of Chandrika Bandaranaike Kumaratunga and Maithripala Sirisena, while supporting Ranil Wickremesinghe’s UNP ‘like a rope supports a hanging man’ (as Lenin’s sardonic line goes).

Without the minority parties, Sajith/ SJB can no longer count axiomatically on the minority vote. The SJB is liberated from the liability of bearing the tattoo of ‘minoritarianism’ that eroded Ranil Wickremesinghe’s UNP for decades.

This means that the SJB will have to compete for Sinhala votes with Anura Dissanayake’s JVP-NPP, Namal Rajapaksa’s SLPP and Dilith Jayaweera’s Sarvajana Balaya on a level playing field.

This does NOT mean that the SJB has to resort to ethnoreligious/ethno-lingual nationalism. What it does mean is that the SJB has to revert to the Ranasinghe Premadasa strategy of socioeconomic majoritarianism, rather than ethnoreligious majoritarianism.

President Premadasa’s strategy was the alliance of the socioeconomic majority of the majority, with the majority of the minorities, in a patriotic, populist, pluralist bloc.

’Adeleke’s performance made me dump APC’

A former Osun West senatorial aspirant under the All Progressives Congress (APC), Chief Peter Ogundeji, has defected to the Accord Party to support Governor Ademola Adeleke’s re-election bid, citing the governor’s strong leadership and welfare initiatives.

Ogundeji, who spoke at the Government House open field yesterday while leading thousands of supporters into the Accord Party, said he was previously ‘blind’ to good governance while in the APC.

‘Some time ago, when I was in APC, I was blind and not well enlightened on good governance. But today, I have seen light in the Accord Party of Governor Adeleke,’ he said.

The Ejigbo-born politician praised Adeleke’s welfare programmes for civil servants, retirees and workers across the state, and withdrew earlier criticisms he made against the governor while in the APC.

‘Any statement made against your government was political and just mere fallacy. You have done well, Mr Governor,’ he said.

Ogundeji also alleged that the APC senatorial primary in his zone was not properly conducted, claiming that party elders ‘hand-picked’ the candidate. He said one of the aspirants later told him that even the President had endorsed Adeleke for a second term because of his performance.

‘I am sure the President has seen the good works of Adeleke’s government. I urge all other members in that party to join Adeleke to win his re-election,’ he concluded.

Borno: Zulum commissions, hands over multi-million naira office complex, CBT centre to JAMB

Borno State Governor, Professor Babagana Umara Zulum, on Wednesday commissioned and handed over a multi-million naira office complex and a Computer-Based Test (CBT) centre, built by his administration, to the Joint Admissions and Matriculation Board (JAMB) in Maiduguri.

The state-of-the-art facility, located along the Maiduguri-Dikwa Road, serves as JAMB’s North-East zonal office, covering the states in the region.

The project comprises an administrative block and a dual CBT centre with a capacity for 500 candidates at a time.

Speaking at the commissioning ceremony, Babagana Zulum reaffirmed his administration’s commitment to educational development, describing the project as the state government’s contribution to national education service delivery in the North-East.

The governor noted that the facility would serve as a regional hub for candidates sitting entrance examinations into tertiary institutions.

Babagana Zulum also directed the Ministry of Education to name the facility after Ishaq Oloyede.

JAMB Registrar, Professor Ishaq Oloyede, who received the facility on behalf of the board, commended the governor for the landmark achievement.

Ishaq Oloyede described the project as unprecedented, noting that it is the first time a state governor has independently undertaken the construction of a JAMB zonal office and a CBT centre.

The outgoing JAMB Registrar said the centre would enable 500 candidates to sit examinations simultaneously, with the capacity to process more than 2,000 candidates daily.

He added that the in-built registration units would allow the board to complete registration and documentation for Borno applicants in a few days.

He stressed, ‘Today, reality has surpassed my expectations. In just four months, what seemed humanly impossible has been accomplished.’

He added,’This facility stands as a testament to your visionary leadership, your commitment to educational advancement, and your unwavering dedication to the people of Borno State and the Northeast region.’

According to him, ‘The CBT centre you have graciously provided will serve as a beacon of excellence for computer-based testing and administrative services. It will bring immense relief to candidates, educational institutions, and stakeholders across this region.’

‘More importantly, it represents Your Excellency’s broader commitment to rebuilding educational confidence and expanding opportunities for young people despite the enormous challenges confronting this region,’ Ishaq Oloyede stated.

He told the governor: ‘Your Excellency, your investment in education, human capital development, and youth empowerment continues to inspire hope and reaffirms the enduring role of education as a foundation for peace, stability, and societal progress.’

‘Your leadership, characterised by courage, compassion, accessibility, and unwavering dedication to public service, has positioned you as one of the most respected public servants in contemporary Nigeria.’

Present at the occasion were the Secretary to the Borno State Government, Bukar Tijani; the incoming Registrar of JAMB, Professor Segun Aina; the Acting Chief of Staff to the Governor, Dr Babagana Mustapha Malumbe; the Commissioner for Education, Engr Lawan Abba Wakilbe; and many senior government officials.

Dangote refinery resumes petrol sale in naira

Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS) in naira after a week-long suspension, while raising its ex-depot petrol price to N1,215 per litre.

The refinery had suspended gantry and coastal loading on July 15 after introducing a dollar-denominated pricing template for refined petroleum products.

With the latest adjustment, the ex-depot price has increased by N140 per litre, representing a 13.02 per cent rise from the previous price of N1,075 per litre.

Checks by Daily Trust indicated that the new gantry price by Dangote is lower than the imported products.

As of last night, some depot owners priced at N1,274 per litre. Also, some retail stations currently dispense at over N1,300 per litre in Lagos.

Sources confirmed that customers had been notified of the resumption of gantry operations, with truck loading expected to commence immediately under the revised naira pricing structure.

The suspension of loading last week significantly tightened fuel supply across the country, pushing prices at private depots sharply higher.

In Lagos, the average ex-depot price reportedly climbed from around N1,075 per litre before the suspension to approximately N1,275 per litre, representing an increase of about N200 per litre, or 18.6 per cent, as marketers adjusted to higher replacement costs.

Daily Trust reports that Dangote Refinery had cited difficulties in accessing sufficient crude oil under the Federal Government’s naira-for-crude arrangement to justify the introduction of dollar-based transactions.

Under the temporary dollar-based pricing template, PMS was sold at $0.779 per litre, Automotive Gas Oil (diesel) at $1.087 per litre, and Jet A1 aviation fuel at $0.942 per litre.

President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi confirmed the development in a chat with Daily Trust.

Maigandi expressed happiness over the development, saying it would ease the current disruptions encountered in the last one week.

‘We are very happy with this development and I want to assure you that our members would resume loading immediately. This will further improve inland distribution after days of constrained availability,’ he said.

Freedom 250 Baseball Series honours American legacy and four decades of baseball in Sri Lanka

The US Embassy in Sri Lanka recently launched the Coach Jim Dimick Memorial Baseball Classic, celebrating the enduring American legacy of baseball in Sri Lanka as part of the Embassy’s

Freedom 250 Baseball Series commemorating the 250th anniversary of the United States.

Chargé d’Affaires Jayne Howell joined players, coaches, alumni, and Sri Lanka Baseball/Softball Association officials at Royal College Colombo to officially launch the tournament, with Marine Security Guard Gunnery Sergeant Kyle Aparicio throwing the ceremonial first pitch.

The triangular tournament brought together Royal College Colombo, Kingswood College Kandy, and Richmond College Galle-three schools whose history is closely intertwined with the growth of American baseball in Sri Lanka. Kingswood opened with a 26-10 win over Royal College before falling 15-7 to Richmond. Richmond secured a place in the championship game with a 7-7 draw against Royal College, but Kingswood prevailed 11-6 in the final rematch to capture the Freedom 250 championship.

Chargé d’Affaires Howell

said: “As America celebrates,

250 years of independence, we are proud to celebrate one of our nation›s greatest traditions-baseball. For generations, America›s national pastime has brought communities together through teamwork, perseverance, and sportsmanship. Today, that same game continues to build friendships between Americans and Sri Lankans. We are proud that baseball, first introduced to Sri Lanka through the leadership of an American coach, continues to inspire young athletes and strengthen the ties between our two countries.”

Baseball is woven into the fabric of American life. For over 150 years, families have gathered at ballparks, children have dreamed of the major leagues, and communities have rallied around the game. Today, America›s national pastime continues to inspire young athletes around the world, connecting people through teamwork, sportsmanship, and a shared love of the game.

For four decades, the United States has supported the growth of baseball in Sri Lanka through sports diplomacy, including coaching exchanges, equipment donations, youth development, community outreach, and partnerships with the Sri Lanka Baseball/Softball Association. The Freedom 250 Baseball Series celebrates both America›s semiquincentennial and the 40th anniversary of baseball in Sri Lanka. Throughout the year, the US Embassy has partnered with Sri Lankan schools, coaches, and athletes to recognise baseball›s enduring role as a bridge between our two nations and as an example of the power of sports diplomacy to connect people across cultures.

Baseball was introduced to Sri Lanka in 1985 by James “Jim”

Dimick, a US Marine Corps veteran and National Baseball Hall of Fame coach, who traveled to Sri Lanka through a U.S. Embassy initiative to conduct the country’s

first baseball clinics. Royal College Colombo was among the four original schools where the game took root, and many of those early players remain leaders in Sri Lankan baseball today. Coach Dimick’s vision and dedication established the foundation for the sport›s continued growth, making him one of the most influential figures in Sri Lankan baseball history.

Oyo guber: Seyi Makinde’s anointed candidate can win if… – Primate Ayodele

The leader of the INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has said Oyo Governor Seyi Makinde’s preferred governorship candidate, Bimbo Adekanbi, has a strong chance of winning the 2027 election if the governor fully commits to the campaign.

Primate Ayodele, in a video circulating online, said the outcome of the election would largely depend on the level of political effort Makinde invests in securing victory for his anointed candidate.

According to the cleric, Adekanbi currently enjoys an advantage over other aspirants, but warned that the election should not be taken for granted.

‘Seyi Makinde’s candidate can win the governorship election in Oyo State. The victory is closer to him than every other candidate, but the governor must work very well to get victory for his candidate in the election.

‘He should forget about his presidential ambition; it’s beyond him. He has only this governorship election to focus on, and he must be careful so it won’t slip away. His candidate is closer to it, but he still needs to do more work to get victory in the election,’ Ayodele said.

The cleric also advised Makinde to concentrate on ensuring a smooth succession in Oyo State rather than pursuing a presidential bid, insisting that retaining control of the state should be his immediate political priority.

Ayodele further predicted a difficult path for the All Progressives Congress (APC) in the governorship race, alleging that the party’s candidate, Alli Sharafadeen, could face resistance from within the APC.

According to him, internal opposition among party members may weaken Sharafadeen’s chances at the polls.

‘For the APC candidate, even the members of his party will work against him in the election. It will be hard for him because even people closer to him will not support him. One of his problems will be the Olubadan if he isn’t careful enough,’ he said.

The Oyo state governorship election is expected to be one of the key political contests ahead of the 2027 general elections, with political parties already making early moves to position their preferred candidates.

Nigeria’s crude exports to US jump 149% as American oil imports rebound

Nigeria’s crude oil exports to the United States rebounded sharply in May as American refiners stepped up overseas purchases, offering fresh evidence that higher global oil prices and renewed demand for light sweet crude are reviving one of Nigeria’s traditional export markets.

Data obtained from the US Census Bureau show the US imported 2.36 million barrels of Nigerian crude in May, up 149.4 percent from 946,000 barrels in April.

The customs value of the imports climbed to $279.8 million, compared with $85.2 million a month earlier, reflecting both stronger buying and firmer crude prices.

Brent crude oil prices in May 2026 started the month around $116.10 per barrel but fell sharply to close the month at $92.05 per barrel. This monthly drop of over 19 percent was largely driven by hopes of a US-Iran agreement to reopen the Strait of Hormuz.

The recovery coincided with a broader increase in US crude imports. According to the latest US International Trade in Goods and Services report, US crude oil imports rose by $1.5 billion in May, making crude one of the largest contributors to a $12.3 billion increase in overall goods imports.

Also, imports of industrial supplies and materials rose by $3.1 billion during the month, with crude oil accounting for nearly half of the increase.

The rebound marks a turnaround after Nigerian shipments to the US weakened for two consecutive months. Imports fell from 4.637 million barrels in February to 1.54 million barrels in March before sliding further to April’s low of 946,000 barrels.

Despite the volatility, the US imported 11.15 million barrels of Nigerian crude worth approximately $926.6 million between January and May, underlining Nigeria’s continued relevance as a supplier of premium light sweet crude grades to the world’s largest economy.

‘Buyers will naturally diversify away,’ said Muda Yusuf, Director/Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE).

The increase comes as geopolitical tensions in the Middle East continue to reshape global crude trade flows. Heightened concerns over shipping through the Strait of Hormuz have lifted international oil prices and prompted refiners to diversify supply sources, increasing the appeal of Atlantic Basin producers such as Nigeria.

Nigerian grades, including Bonny Light, Qua Iboe, and Escravos, remain attractive to US Gulf Coast refiners due to their low sulphur content and high yields of gasoline, diesel, and jet fuel.

Although the US has become one of the world’s largest oil producers, many of its refineries continue to import specific crude grades that complement domestic production.

The stronger US demand also comes as Nigeria has gradually restored crude production through improved security in the Niger Delta and intensified efforts to curb oil theft and pipeline vandalism.

Higher production has enabled exporters to capitalise on stronger international prices and increased demand from overseas buyers.

For Nigeria, the renewed US buying provides an additional revenue boost at a time when crude oil remains the country’s largest source of foreign exchange and government income.

Sustained demand from the US, alongside robust purchases from Europe and Asia, could help support export earnings if global oil prices remain elevated.

However, analysts cautioned that Nigeria’s share of the US market remains vulnerable to changing refinery economics, domestic shale output and shifts in global trade flows.

While May’s rebound is significant, export volumes are still well below February’s peak, suggesting that US demand remains opportunistic rather than structural.