Pensioners appeals to Tinubu over unpaid N75,000 subsidy palliative

The Nigeria Union of Pensioners (NUP) has urged President Bola Tinubu to order the payment of the N75,000 palliative approved for vulnerable Nigerians following the removal of fuel subsidy in 2023.

The union said three years after the Federal Government approved the payment, none of its members had received the three-month relief of N25,000 monthly.

The NUP made the demand in a letter addressed to the President and signed by its General Secretary, Comrade Godwin Amadin.

The union said the palliative was approved in October 2023 as part of measures to cushion the effect of fuel subsidy removal on vulnerable Nigerians, including pensioners.

It said the approval was initially received by pensioners ‘with joy and renewed hope’, given the economic difficulties confronting senior citizens.

The NUP, however, said the continued delay in payment had compounded the hardship faced by pensioners amid rising costs of food, drugs, transportation and electricity.

‘However, we are constrained to inform Your Excellency that no single pensioner has been paid this approved palliative to date,’ the union said.

According to the pensioners, many of their members served the country for 35 years or more under specialised public service conditions and deserved the relief.

The union said the N75,000 payment would have provided some relief for beneficiaries in meeting their basic needs, particularly food and medical expenses.

It therefore appealed to Tinubu to direct the Federal Ministry of Humanitarian Affairs and Poverty Alleviation and the National Social Safety Nets Coordinating Office to commence the payment to pensioners nationwide.

The union also expressed concern that the palliative had already been paid to civil servants ‘almost three years ago’, while pensioners were yet to benefit from the scheme.

The NUP said it had submitted verified data to NASSCO to facilitate ‘seamless, transparent, and direct payment’ to eligible pensioners.

The union commended the President for ensuring regular payment of monthly pensions and for approving N25bn for the implementation of pension harmonisation and the settlement of other pension arrears.

It appealed to the administration to extend the same intervention to the outstanding palliative, saying its payment would help alleviate the hardship being experienced by pensioners.

‘We have absolute confidence in your ‘Renewed Hope Agenda’ and your commitment to ‘leaving no one behind’,’ the union said, urging the President to urgently intervene in the matter.

Foreigners sell Sh4.5bn stocks in August as blue-chips rally

Foreign investors cashed in on shares worth Sh4.55 billion on the Nairobi stock market in August, taking advantage of a rally in blue-chip share prices to secure profits on their investment.

The August net sales, which rose from Sh1.35 billion in July, represented the biggest monthly foreign outflow in 10 months.

Market trade data shows that their net sales accelerated in the second half of last month, coinciding with the period when stocks such as Safaricom, Equity Group, KCB Group and Co-operative Bank of Kenya touched multi-year or all-time highs.

Safaricom, the largest company on the Nairobi Securities Exchange (NSE), is trading at Sh37.65 a share, representing a gain of 33 percent since the beginning of the year.

Equity touched an all-time closing high of Sh106 on Friday, having climbed 57 percent since January, while KCB touched an all-time high of Sh99.25 on Wednesday, translating to a 49 percent gain in the year to date.

The foreign traders usually concentrate their activities on these select large and liquid stocks, alongside others such as Co-operative Bank of Kenya and East African Breweries Plc (EABL) that have the necessary liquidity to support easy purchase and sale of large volumes of shares.

The stocks being offloaded by foreigners have been bought by local corporate investors, primarily cash-rich fund managers and pension funds that have been diversifying from government bonds whose interest rates have declined.

Latest data from the Retirement Benefits Authority (RBA) shows that in the six months to June 2026, pension funds raised their investment in listed equities by Sh130.51 billion to Sh443.35 billion, an increase of 41.7 percent.

This increase lifted equities’ share of total pension assets to a five-year high of 14.37 percent, from 11.13 percent at the end of last year.

At the same time, they cut their exposure in government securities by Sh35.14 billion, or 2.4 percent, to Sh1.43 trillion from Sh1.47 trillion.

The shift to equities investments has coincided with a strong recovery on the NSE, supported by improved corporate earnings, dividend payouts and renewed local investor confidence in the stock market.

For foreign investors, this has created a good opportunity to exit the market at premium prices, rewarding those who entered the market during the bear run between 2015 and 2023.

That lean period at the market was characterised by local investor apathy, leaving foreign investors to dominate trading with participation ratios of up to 80 percent.

Foreign investors are also looking at improving returns from assets in developed markets -particularly the US- as interest rates rise due to higher global inflation caused by the conflict in the Middle East.

The higher rates, combined with the dollar’s status as a safe haven currency in times of global geopolitical shocks, has led to some investors pulling capital from riskier emerging and frontier markets like Kenya.

The NSE has also seen more of its stocks gain visibility among foreign investors due to the inclusion of additional stocks in the closely watched Morgan Stanley Capital International (MSCI) emerging and frontier market indices, amplifying foreign inflows and outflows.

Kenya’s NSE is represented by 17 companies on the MSCI frontier and small caps indices that are selected based on a number of metrics including liquidity and financial stability, giving them the exposure to the foreign investors that boosts their price discovery.

Safaricom, Equity, EABL, KCB, Co-op Bank and Standard Chartered Bank Kenya are listed on the MSCI frontier markets index, as at the most recent review of May 2026.

BAT Kenya, KenGen, Kenya Re, Kenya Power, DTB Group, Carbacid, Bamburi Cement, Jubilee Holdings, CIC Insurance Group, Centum Investment and HF Group are on the MSCI frontier markets small cap index.

Other countries included on the frontier markets indices are Zimbabwe, Tunisia, Morocco, Nigeria, Senegal, Mauritius and Côte d’Ivoire.

South Africa, which has the largest and most liquid stock market in Africa, and Egypt, are classified as emerging markets by the MSCI.

ATHLETICS-DIAMOND LEAGUE-Alfred, Seville, Gayle claim Diamond League titles

Saint Lucian Julien Alfred captured her third consecutive Diamond League title, while Jamaicans Oblique Seville and Tajay Gayle also won their respective events at the final here at the King Baudouin Stadium on Friday.

On a chilly night, Alfred stormed to victory in the women’s 200 metres in a time of 21.79 seconds to add to the 100m titles she won in 2024 and 2025.

Kayla White of the USA crossed the line second in 22.00 seconds, followed by European champion Amy Hunt, who produced a personal best of 22.16 seconds to round out the podium.

Running out of lane 6, the 25-year-old Alfred faced early pressure off the bend from White, but powered home in the last 50 metres to comfortably win the race in the seventh-fastest time of the season.

‘The only goal tonight was to come out here and finish, from point A to point B,’ Alfred told FloTrack after the race. ‘I think just that – despite the time, despite the weather.’

Seville captured his first-ever Diamond League title by winning the men’s 100 metres. He recovered from a shaky start to cross the finish line in 9.90 seconds to edge Commonwealth Games champion Emmanuel Eseme of Cameroon in 9.93 seconds, and Kayinsola Ajayi of Nigeria, who placed third in 9.97 seconds.

Gayle was also in winners’ row, claiming his second men’s long jump title in three years by leaping to victory in a season’s best effort of 8.46 metres in the final round to overtake series leader Miltiadis Tentoglou of Greece, who finished second with a jump of 8.40m, while Switzerland’s Simon Ehammer was third (8.23m).

Fellow Jamaican Wayne Pinnock placed fifth (7.94m).

Meanwhile, Trinidadian Jereem ‘The Dream’ Richards set a new national record in the men’s 400 metres on his way to copping a silver medal.

Richards clocked 43.68 seconds to finish behind Busang Collen Kebinatshipi who won in a Diamond League and Botswana national record of 43.40 seconds. The USA’s Jacory Patterson took bronze in a personal best time of 43.78 seconds.

It eclipsed his own previous mark of 43.72 seconds, which he set last September at the World Championships in Tokyo.

It is the third time Richards has broken the Trinidad and Tobago 400 metre record, the first in 2024 at the Paris Olympics when he finished fourth in 43.78 seconds to break Machel Cedenio’s previous record of 44.01.

Jamaican Roje Stona took home bronze in the men’s discus with a throw of 68.86m, behind Slovenia’s Kristjan Ceh (71.29m), and Lithuania’s Mykolas Alekna in second with 70.14m.

Customs achieves 130% of 1H target, Rs. 512 b vehicle import taxes account for 37% of revenue

Vehicle imports generated Rs. 512.5 billion in tax revenue for Sri Lanka Customs in the first half of 2026, with 316,000 vehicles imported as of 30 June, 2026, Parliament’s Committee on Ways and Means was informed.

The Committee, chaired by Member of Parliament Wijesiri Basnayake, reviewed the operations and revenue performance of Sri Lanka Customs at a recent meeting.

Officials, including Customs Director General, told the Committee that overall Customs revenue had reached 130% of its expected target for the first half of the year, with taxes from vehicle imports accounting for over 37%.

Customs revenue as of 30 June, 2026 stood at Rs. 1.6 trillion, while actual collections for the period amounted to Rs. 1.38 trillion. Officials added that Customs revenue had exceeded monthly targets in every month of the year to date, and that each month’s collections had also surpassed the corresponding figures recorded in 2025.

The Committee also examined the volume of imported containers and inspection procedures, the adoption of modern technology to improve the efficiency of Customs operations, challenges in revenue administration, and future plans for the department.

Meet 71-year-old Nigerian studying Law at UI

Not resting on his oars, Dr. Bolaji Ojo-Oba has proved right the axiom that age is not a barrier to learning.

Recently, 71-year-old Dr. Ojo-Oba went viral on social media platforms especially TikTok. A video shared by his daughter Rihanot Ojo-Oba showed the septuagenarian in class with other colleagues.

Earlier this year, he was among the 4,430 newly admitted students for the 2025/2026 academic session at University of Ibadan. He was formally matriculated during the university’s ceremony in March 2026.

Studying at an advanced age in Nigeria is a powerful testament to lifelong learning, defying cultural stereotypes, and proving that the quest for knowledge has no expiration date.

According to him, he returned back to study law because of his lifelong ambition goal and the impact of a prolonged legal battle during his tenure at the Nigeria Football Federation (NFF).

Dr. Ojo-Oba’s illustrious career spans several decades, during which he has demonstrated exceptional leadership, versatility, and expertise.

Ojo-Oba who hails from Ibadanland, was born on 7 January, 1955. Last year, he marked his 70th birthday anniversary amid pomp and ceremony.

He obtained his first degree in French from the University of Lagos and Master’s in the same discipline from the same University.

He later earned his Master’s and Doctorate in Sports Administration from the University of Ibadan.

A cursory look at Ojo-Oba’s intimidating and enriching profile reveals a man who did not stumble on stardom by accident but intricately sketched his way to the top. It was a hard climb, assisted by perseverance.

Ojo-Oba started his career in the civil service in 1989 as a Senior Bilingual Secretary of the NSC.

He became the Head of NFA’s International Competitions Department from 1990 to 1992 before later becoming the Head of Department of Competitions from 1992 to 1995.

Ojo-Oba later became NFA’s Head of Marketing and Sponsorship Department in 1995 before becoming an officer in the Federal Ministry of Youth and Sports Planning till 1997.

He later became the Commissioner for Information, Youth, Sports and Culture in Oyo State from 1997 to 1999.

Ojo-Oba later rose to the post of an Assistant Director, Federal Ministry of Sports And Social Development from 2004 to 2005.

He served as Secretary-General of the Nigeria Football Federation (NFF) from January 15, 2007 to July 26, 2010.

He was for many years a security chieftain for both Confederation of African Football (CAF) and FIFA which he served meritoriously.

Throughout his career, Dr Ojo-Oba has exhibited a commitment to excellence, serving in various capacities, especially as a member of the Fédération Internationale de Football Association (FIFA) Committees.

Expert calls for Africa to turn biotechnology into wealth

Africa must move beyond the production and export of biological raw materials and build stronger systems for converting its scientific knowledge and biological resources into high-value products, industries and jobs, an innovation expert, Obichi Obiajunwa, has said.

Obiajunwa made the call while delivering a plenary lecture titled ‘From Bench to Bioeconomy: Industrial Biotechnology, Circular Economy Models, and the Pathway to Sustainable Wealth Creation in Africa’ at the 38th Annual Conference of the Biotechnology Society of Nigeria (BSN), held at Abdulkadir Kure University, Minna, Niger State.

The conference, themed ‘Advancing Safe Biotechnology for Sustainable Wealth Creation,’ brought together stakeholders from academia, research, industry and the biotechnology community to examine how biotechnology can contribute to sustainable development and wealth creation in Nigeria and Africa.

At the beginning of his presentation, Obiajunwa acknowledged the presence of the Vice Chancellor of Abdulkadir Kure University, Professor Mohammed Aliyu Paiko, and the President of the Biotechnology Society of Nigeria, Professor Sylvia Uzochukwu, among other distinguished participants at the conference.

He said Africa’s challenge was no longer simply a lack of biological resources or scientific capability, but the difficulty of moving innovations from the laboratory into commercially viable enterprises and ensuring that a greater share of the resulting value was retained on the continent.

Obiajunwa described the situation as Africa’s ‘biomass paradox’: the continent possesses enormous biological resources and produces significant quantities of agricultural commodities, yet much of the higher-value processing and manufacturing associated with those resources takes place elsewhere.

He pointed to Africa’s biological abundance as a major economic opportunity, noting that more than 60 per cent of the world’s remaining uncultivated arable land is in Africa.

He also drew attention to the cocoa industry, where Africa produces the majority of the world’s cocoa but captures only a small proportion of the value generated by the global chocolate market.

For him, the challenge is therefore not simply to produce more.

‘The question is how much value we can create and retain from what we produce.’

He argued that Africa must increasingly move from exporting biological raw materials to developing the technologies, industries, intellectual property and manufacturing capacity required to transform those resources into higher-value products.

The science is not the bottleneck

Obiajunwa cautioned against the assumption that Africa’s principal problem is the absence of scientific innovation.

He cited African biotechnology successes, including Aflasafe, a biological solution for reducing aflatoxin contamination; NoduMax, a legume biofertilizer; and Bt cowpea, an insect-resistant crop approved for cultivation in Nigeria.

These examples, he said, demonstrate that African researchers and institutions are capable of developing biotechnology solutions with practical applications.

The bigger challenge begins after scientific validation.

A technology can work in the laboratory and still fail to become a successful enterprise because of inadequate commercial evaluation, inappropriate financing, limited pilot-scale infrastructure, regulatory uncertainty or weak connections between research institutions and industry.

He described this gap as the ‘valley of death’ between scientific innovation and commercial scale.

The problem, he said, requires a deliberate bridge between research and business.

From relay race to tennis doubles

Using a sporting analogy, Obiajunwa argued that innovation is too often organised like a relay race.

In such a system, the scientist completes the research and hands the innovation to an entrepreneur. The entrepreneur later seeks financing, while regulators and other stakeholders become involved at different stages.

He proposed a different model, which he described as ‘tennis doubles.’

Under this approach, scientists, entrepreneurs, investors, regulators, manufacturers and other stakeholders work together earlier in the innovation process

He said market considerations should inform scientific development, while regulatory requirements, financing needs and commercial opportunities should be understood before a technology reaches the end of the research process.

‘The journey from bench to market should not be a sequence of disconnected handovers. It should be a coordinated system.’

He said this approach could improve the chances of promising African technologies surviving the transition from research to commercialisation.

Turning waste into wealth

The lecture also examined the potential of the circular bioeconomy to create additional value from Africa’s biological resources.

Obiajunwa identified agricultural residues such as cassava peels, rice husks, sugarcane bagasse and oil-palm residues as examples of materials that are often regarded as waste but could serve as feedstocks for new products and industries.

He explained that circular bioeconomy models seek to keep biological resources and their economic value in productive use for as long as possible while reducing waste and regenerating natural systems.

He distinguished between cascading and regenerative approaches.

According to him, a cascading model asks how many useful products can be created from a biological resource before it becomes waste.

A regenerative model asks how the system itself can become healthier and more productive when the cycle begins again.

‘Africa needs both,’ he said, arguing that the continent should not simply extract more value from its biological resources but should also protect and regenerate the ecological systems that sustain future production.

Regulation as bioeconomy infrastructure

Another major theme of the lecture was biosafety and regulatory governance.

Obiajunwa challenged the perception that regulation is necessarily a constraint on innovation.

He argued that effective regulation should instead be regarded as infrastructure for the bioeconomy.

Investors need predictable rules.

Innovators need clear regulatory pathways. Consumers need confidence in biotechnology products. Regulators need the technical capacity to assess emerging technologies.

He said that responsible regulation can create the confidence required for investment and commercialisation.

The lecturer also pointed to existing African institutions as evidence that regional regulatory and intellectual property harmonisation is possible.

He cited the African Medicines Agency and regional intellectual property systems as examples of African countries developing institutions that operate across national borders.

He called for similar thinking to be applied to the emerging bioeconomy, particularly in areas where fragmented regulatory systems can increase the cost and complexity of commercialising biotechnology innovations across African markets.

Beyond producing biological commodities

Obiajunwa said the future of Africa’s bioeconomy would depend on the continent’s ability to move beyond the production of biological commodities.

He argued that a tonne of biomass should not be viewed only as an agricultural commodity. It could also be the starting point for enzymes, biomaterials, biofertilizers, biochemicals, pharmaceuticals, food ingredients, animal feed and energy products.

The difference, he said, lies in the capacity to convert biological resources into increasingly sophisticated products and services.

Instead of asking only how much Africa can produce and export, he urged stakeholders to ask how many products, companies, jobs, intellectual property assets and industries can be built around what Africa already produces.

This, he said, requires a combination of scientific research, entrepreneurship, investment, infrastructure, manufacturing capacity, regulatory capability and market development.

Who captures the value?

The central economic question raised by the lecture was who captures the value created from Africa’s biological resources.

Obiajunwa said biotechnology policy should therefore not be measured only by the number of research papers produced or technologies developed.

It should also consider the number of technologies commercialised, companies created, products manufactured, intellectual property retained, investments mobilised and skilled jobs generated.

He called for closer collaboration between universities, research institutes, government agencies, investors and industry to create an ecosystem capable of taking promising innovations from the laboratory to commercial scale.

The transition, he said, should ultimately enable African countries to become not only producers of biological raw materials but also developers, manufacturers, owners and exporters of higher-value biological products.

The lecture concluded with a call for a more integrated approach to Africa’s bioeconomy, bringing together science, markets, circular economy design, regulation, finance, infrastructure and societal trust. And he went on to propose the idea of a National Biotechnology Innovation Challenge, which he offered to support the BSN in designing and implementing.

The broader message was clear: Africa’s opportunity is not simply to remain abundant at the source. It is to build value, industry and ownership around that abundance.

Weather Temperature for Cyprus

Department of Meteorology

Today’s weather and temperatures for Cyprus according to the Department of Meteorology

Date 05/09/2026

Station

TEMPERATURE (C) (FROM 20:00 PC of the previous one until the time of the show)

Highest

Lowest

Humidity at

1200 UTC

Nicosia (Athalassa)

37

21

44

Larnaka Airport

32

24

66

Limassol

32

24

62

Pafos Airport

31

23

66

Frenaros

33

23

65

Prodromos

25

19

90

Polis Pafos

33

22

65

Uganda drafts 10-year health financing strategy to cut donor dependence

Uganda is finalising a new 10-year health financing strategy aimed at increasing domestic funding for healthcare and reducing the sector’s reliance on foreign assistance, Ministry of Health officials said Thursday.

The Uganda Health Financing Strategy (UHFS), which will run from 2026 to 2036, is being developed following the expiry of the previous strategy that covered 2015/16 to 2024/25.

Officials told Parliament’s Health Committee and local and international health partners during a consultative meeting in Kampala that the new strategy would prioritise domestic resource mobilisation, efficient use of funds and stronger accountability while protecting vulnerable households from catastrophic healthcare costs.

‘We want to increase domestic financing of health care because the external funding is crippling, so we want to look inwards and look for money to help our people who can’t access health care because of poverty. We don’t want to see people sell off their properties to access health care,’ Dr Ali Walimbwa, a health planner at the Ministry of Health, said.

He said the strategy would guide the sector in mobilising resources while addressing leakages, including corruption, through stronger accountability mechanisms.

‘The strategy will guide the health sector to mobilise resources to fund health services but also ensure that it closes the loopholes which take this fund like corruption through a strong accountability mechanism. We want the little resources we get to benefit everyone in terms of service delivery,’ he said.

Prof Elizabeth Ekirapa, the lead consultant overseeing the formulation of the strategy, said it covers domestic and external revenue mobilisation, resource utilisation and accountability.

She said Uganda loses billions of dollars each year to preventable diseases, arguing that greater investment in prevention could reduce both deaths and healthcare costs.

Ekirapa said the country spends about Shs16.4 trillion treating non-communicable diseases, while prevention would require about Shs1.5 trillion.

She said the investment in prevention could avert about 92,000 deaths annually while generating economic returns.

‘We need $128m (Shs483.4 billion) on immunisation but we only get $85 million (Shs321 billion) indicating a gap of $42 million (Shs158 billion) yet if fully funded we would close the 25 million cases of vaccination bring a return on investment because every one dollar (Shs3800) invested in immunisation, we bring back $9 (Approx. Shs34000),’ she said.

Ekirapa also said Uganda had lost about $6.2 billion (about Shs23.4 trillion) to preventable diseases, some of which could have been avoided through interventions such as immunisation.

She urged Parliament to increase health funding, saying the health budget has risen from Shs2.7 trillion in 2016 to Shs5.23 trillion but remains below the government’s 15 percent commitment.

‘As Members of Parliament we would like to implore you to advocate for the increase in the health budget because although it has almost doubled from the Shs2.7 trillion in 2016 to the current Shs5.23 trillion, it is still below the mark of 15 percent of the national budget as it was committed by the government,’ she said.

Push for national health insurance

Health financing advocates also urged the 12th Parliament to revive efforts to establish a National Health Insurance Scheme (NHIS), which they say would create a collective pool of funds to finance healthcare.

Henry Magala, the Country Program Director at AIDS Healthcare Foundation (AHF), called on MPs to pass the National Health Insurance Bill, saying the scheme would help vulnerable Ugandans access healthcare without selling assets to meet medical costs.

‘I implore MPs in the 12th Parliament to consider this Bill, pass it because the previous Parliament passed it, but the President rejected it and referred it back so if we are to see a collective pool of funding to health that benefits everyone, this scheme is key,’ he said.

The proposed NHIS is designed to pool contributions to provide affordable personal healthcare services to Ugandans based on their health needs.

Dr Kate Samula, AHF Deputy Bureau Chief for Africa, said Uganda was facing a changing global health financing environment as donor assistance becomes more constrained and unpredictable while countries face growing debt and fiscal pressures.

‘For Uganda, this makes domestic resource mobilisation, efficiency in public spending and the protection of health investments increasingly important. Parliament has a critical role in this transition,’ she said.

She said Parliament’s role extended beyond approving health budgets to shaping taxation, debt management, public financial management and other fiscal policies that determine the resources available to the health sector.

‘Beyond approving budgets, Parliament helps shape the fiscal choices that determine whether health receives adequate and sustainable financing. Through legislation, budget allocation, oversight and engagement on taxation, debt and public financial management, Parliament can help create and protect the fiscal space needed to advance Uganda’s health priorities,’ she said.

Ekirapa said the new strategy was intended to ensure access to healthcare regardless of income or social status and urged stakeholders to fully fund and implement it.

Dr Rude Mande, chairperson of Parliament’s Health Committee, pledged to advocate for increased health funding and push for passage of the National Health Insurance Bill.

He said the measures were necessary to ensure Uganda’s health financing system responds to the needs faced by the population.

2027: Diaspora group pledges support for Tinubu’s re-election

The International Coordinator of the Diaspora Network for Tinubu (DNT), Chief Chukwuemeka Obielom, has said Nigerians in the Diaspora are committed to supporting President Bola Ahmed Tinubu’s bid for a second term in office.

Obielom said this in a statement on Saturday, noting that the socio-political group has members and offices across Europe, Asia, North and South America and the Middle East.

He said the group has also established offices across Nigeria’s six geopolitical zones as part of its mobilisation efforts ahead of the 2027 presidential election.

According to him, the group’s extensive network would be deployed to mobilise support for Tinubu’s re-election.

Obielom said the Tinubu administration requires another term to consolidate the policies and reforms introduced since it assumed office.

‘Nigeria is getting better, Tinubu is carrying out genuine reforms, and Nigerians will be better off in the end,’ he said.

He said Nigerians living abroad have followed developments in the country and are prepared to support the President’s re-election based on what he described as the administration’s ongoing reforms.

The DNT coordinator said reforms were necessary for countries seeking sustainable economic growth, adding that the administration’s policies were intended to provide long-term solutions rather than temporary measures.

He said the group’s primary objective is to contribute to efforts to build a stronger Nigeria that will provide greater opportunities for young people and future generations.

Obielom urged Nigerians at home and abroad to support the continuation of the administration’s reform agenda, saying collective efforts will be required ahead of the 2027 presidential election.

He added, ‘I am working round the clock with my team here in the Diaspora; we are in touch with many Nigerians living abroad, and we have concluded that we will support the president en masse for a greater Nigeria.

He averred, ‘Nigerians have witnessed a greater wave of development and appointments under the current administration; every state and region is carried along, and several projects have been initiated, completed and are ongoing by the current administration across the country; they are all in the public domain.’

Obi Elum appealed to Nigerians to remain united in support of Tinubu’s re-election to enjoy more amenities and remain connected to the centre for the progress and prosperity of their various states and regions.

‘Our zeal to see the fixing of Nigeria under the current administration remains on course; we have also set up coordinating offices in Nigeria’s six geopolitical zones for effective synergy and harmonious working relationships with other interest groups and Nigerians in general’

‘Our offices are situated in Lagos, Abuja, Anambra, Port Harcourt, Kano, Sokoto, and Benue states and will soon be officially open for liaison and other activities. Already, we have funded many projects, programs, and activities geared towards a better Nigeria.’

He urged Nigerians to keep their PVCs handy and join the group to embark on massive mobilisation and door-to-door campaigns at home and in the diaspora to ensure the re-election of President Bola Ahmed Tinubu.

‘Nigeria will be great again. Many reforms have been witnessed, and more are coming. The President is fixing the nation, and things will soon get better.

‘The era of fuel scarcity is gone; prices of goods are stabilising. Already, the Power sector has been unbundled to allow states to also generate and distribute power. Things are getting better,’ he said.

Dangote Refinery IPO to offer 4.1bn shares

The refinery has been positioned as a strategic project capable of transforming Nigeria’s petroleum supply chain by reducing the country’s longstanding dependence on imported refined petroleum products.

The Dangote facility was therefore seen as an important step towards increasing domestic refining capacity, conserving foreign exchange and strengthening energy security.

The proposed IPO would also provide an opportunity for Nigerian investors to acquire direct stakes in one of the country’s most prominent industrial projects.

A public listing of the refinery has been in the offing for several months, with expectations that it could help the company raise additional capital while broadening ownership and improving transparency through greater disclosure associated with being a publicly traded company.

If the refinery sells the 4.1 billion shares at the upper end of the indicative range of N595, the offer would generate about N2.44 trillion.

Depending on prevailing exchange rates, that would place the transaction within the range of $1.55 billion to $1.8 billion cited by the sources.

At the upper end, the transaction could rank among the biggest IPOs ever recorded in Nigeria, potentially drawing significant attention from domestic institutional investors, retail investors and international funds.

The planned September 14 opening of the order book will therefore be an important milestone as investors await the final terms of what is expected to be a landmark transaction for both Dangote Refinery and Nigeria’s capital market.

At the proposed N525 share price, the cost of different share parcels goes as follows: 100 shares equal N52,500; 1,000 shares would translate to N525,000;

10,000 shares equal N5,250,000 while 100,000 shares would translate to N52,500,000.

Several investors including Dangote’s associate and billionaire Femi Otedola have indicated interest in the IPO as soon as it becomes a reality.

Meanwhile, Aliko Dangote, President of the Dangote Group, has confirmed that the initial public offering (IPO) will open on September 14, with shares priced at N525 each on the Nigerian Exchange Limited (NGX).

He spoke during a television interview and in separate conversations with investors and analysts while visiting Botswana.