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Mbah’s defection leaves PDP groping for answers

The defection of Peter Mbah, Enugu State Governor, from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) has left his former party in disarray.

It has however strengthened his new party, positioning them for a good run in the 2027 elections.

Currently, PDP has nine governors, with the number of its senators has shrunken to 27.

On the other hand, the APC secured two-thirds majority in the Senate yesterday, leaving them in total control of the legislative house.

Mbah’s defection

Mbah announced his decision on Tuesday during a press conference in Enugu, saying the move was aimed at advancing the state’s interests through a stronger partnership with the ruling party at the centre.

He said his defection followed a long period of reflection, noting that the APC’s vision under President Bola Tinubu aligns with his own goal of driving sustainable development in Enugu and across the South-East.

‘Today, after a long period of reflection, we have decided to leave the PDP and join the APC. We share a vision that transformation must be disruptive,’ Mbah stated.

‘I have found in His Excellency, President Bola Ahmed Tinubu, a partner in purpose, a man with the courage to look beyond today and make the tough choices that secure lasting prosperity for tomorrow.’

The governor, who was accompanied by his predecessor Ifeanyi Ugwuanyi, federal and state lawmakers, and top political figures in Enugu, said the decision was a collective one made by his political family.

According to him, ‘This is no whimsical decision. It is a collective move by the political family in Enugu State, comprising members of the National Assembly, members of the State House of Assembly, the State Executive Council, all local government chairmen, councillors, political appointees, and over 80 percent of party executives.’

Mbah also expressed optimism that the defection would ensure that the voice of Enugu people and indeed that of the South-East would now be heard in Abuja.

While thanking the PDP for its past support, Mbah lamented that the South-East had often been sidelined in national politics despite its loyalty to the party.

According to Mbah, ‘The Peoples Democratic Party which provided us the platform on which we campaigned and won, I extend deep gratitude,’ he said. ‘But despite our loyalty, our voices were too often disregarded.’

‘Let me be clear, I will represent our state and our region with the same strength of purpose as I have always done. Our Igbo DNA does not change; our destiny does not change. What changes is that our vision now finds stronger reinforcement at the federal level.

‘To the political elite across the South East, I say this: our people are watching. What they care about most are results. True leadership is about service to the people, not service to self. Principles, not personalities, must guide us.’

PDP senators shrink to 27

Meanwhile, the number of senators on the platform of the PDP dropped from 28 to 27 on Tuesday following the defection of Senator Kaila Dahuwa Samaila (Bauchi North) to the ruling APC.

His defection enabled the ruling APC to secure a two-thirds majority in the Senate, after it attained a total of 73 lawmakers.

Kaila, in a letter addressed to Godswill Akpabio, president of the Senate, and read during plenary, cited the prolonged internal crises within the PDP as the major reason for his defection.

He said the recurring factionalisation and lack of direction in the opposition party had ‘gravely constrained’ his ability to serve his constituents effectively and in good conscience.

‘The PDP has gravely constrained my ability to discharge my constitutional responsibilities effectively and in good conscience,’ he wrote.

‘As one deeply committed to the service of our nation and the welfare of my people, I have found it necessary to realign my political engagements with a more progressive platform that embodies good governance, unity, progress, growth, and discipline in the governance of our country.’

The lawmaker explained that his decision to join the APC was also inspired by President Bola Tinubu’s ongoing reforms, which he described as bold, transformative, and necessary for Nigeria’s recovery.

‘Consequently, I have chosen to join the All Progressives Congress and to lend my full commitment to the reforms of His Excellency, President Bola Tinubu,’ Kaila stated.

According to him, Tinubu’s leadership represents the kind of ‘decisive direction’ Nigeria needs to move forward.

With Kaila’s defection, the APC now commands 73 seats in the 109-member Senate, securing a two-thirds majority.

The new configuration of the Senate stands as follows: APC – 73; PDP – 27; Labour Party – 4; All Progressives Grand Alliance (APGA) – 2; New Nigeria Peoples Party (NNPP) – 1; and Social Democratic Party (SDP) – 2.

Risk institute opposes duplication

The Chartered Risk Management Institute of Nigeria (CRMI) has opposed the proposed establishment of the Chartered Institute of Enterprise Risk Management of Nigeria by the National Assembly, describing it as a duplication of existing institutions with identical mandates.

In a memorandum submitted to the House Committee on Commerce, the Registrar of CRMI, Victor Olannye, said the bill seeking to establish the new institute overlaps with the functions of the already existing Chartered Risk Management Institute of Nigeria.

‘Upon careful review of the bill, we wish to draw the Committee’s attention to certain issues surrounding the proposed legislation, specifically its overlap with existing laws and its implications for the integrity of the legislative process,’ he said.

Olannye explained that the 9th National Assembly had already passed the Chartered Risk Management Institute of Nigeria Act No. 39 of 2022, which was duly assented to by the President and gazetted, thereby conferring legal status on the institute.

‘The Act comprehensively governs and promotes the practice of risk management in Nigeria, including professional certification, regulation, and the advancement of the profession,’ he said.

He pointed out that the primary objective of the proposed Chartered Institute of Enterprise Risk Management of Nigeria, to control and promote the practice of risk management, is already fully addressed by the 2022 Act.

‘As such, the proposed bill duplicates functions and responsibilities already legislated under the existing law,’ he stated.

Olannye noted that the legislature has consistently frowned upon the unnecessary proliferation of professional bodies, particularly when their mandates are already covered by existing legislation.

‘Creating overlapping institutions not only leads to inefficiency and confusion within the profession but also undermines the integrity of the legislative process,’ he added.

He therefore urged the Committee to consider dropping the bill, warning that allowing it to progress would ‘contradict existing legislation (Act No. 39 of 2022), create legal and institutional conflicts, undermine the principle of avoiding duplication and redundancy in laws, and weaken the credibility and authority of the legislature’s previous actions.’

Olannye stressed that maintaining the integrity and coherence of the legislative framework was paramount, urging the Committee to uphold the existing law and reject the proposed bill.

He commended the Committee for its diligence and professionalism, saying, ‘The Governing Council wishes to commend the Committee for its unwavering diligence and commitment to upholding the principles of lawmaking. Your meticulous approach to legislative oversight and your dedication to ensuring that every bill aligns with the broader goals of national progress reflect the highest standards of legislative professionalism.’

He added that the Committee’s integrity and thoughtfulness were instrumental in strengthening Nigeria’s governance framework and fostering public trust in the National Assembly.

Stakeholders push for policy incentives, human capital investment as Nigeria eyes energy hub

Nigeria’s bid to reclaim its status as the Gulf of Guinea’s energy powerhouse dominated discussions at the 17th PSRG-Richardson Health, Safety, Security, and Environment (HSSE) Forum, where top industry executives urged fresh incentives, deeper collaboration, and human capital investment to drive growth in Africa’s largest oil producer.

Held in Lagos on September 16-17, 2025, the two-day hybrid conference, themed ‘Nigeria: The Gulf of Guinea’s Energy Hub – Mapping the Pathway,’ gathered leaders from oil, gas, and allied industries to explore practical measures for reviving exploration, improving safety standards, and restoring investor confidence in the sector.

The Forum, a joint initiative between Lagos-based Richardson Oil and Gas Limited and Process Safety and Reliability Group (PSRG) of Houston, USA, has grown into one of West Africa’s most influential energy gatherings since its inception in 2009. It provides a platform for HSSE professionals to share insights and craft solutions to the operational and environmental challenges facing the industry.

‘Nigeria needs to accelerate its human capital development to bridge the gap in HSE practice across all sectors,’ said Akin Osuntoki, managing director and CEO of Richardson Oil and Gas. ‘This forum is about building Nigerian capacity, fostering government-industry-academia collaboration, and positioning the country to lead in energy and safety innovation.’

Delivering the keynote address, Adegbite Falade, managing director and CEO of Aradel Holdings, called for a bold plan to lift Nigeria’s crude output from around 1.8 million barrels per day to 4 million barrels. He said achieving that target would require policy incentives to unlock exploration, attract capital, and strengthen the service sector.

He also urged government and private players to ‘incentivize the return of international service contractors’ while encouraging mergers among indigenous companies to build scale and competitiveness. Falade proposed developing fully integrated service hubs across Port Harcourt, Warri, Uyo, and Lagos to support upstream and downstream activity.

The 2025 edition was chaired by Olanrewaju Kalejaiye, CEO and managing director of ND Western Limited, representing Layi Fatona, chairman of Renaissance Africa Energy Company, who noted that safety and sustainability remain ‘central to unlocking Nigeria’s full energy potential.’

The event attracted support from leading industry names including NLNG, TotalEnergies, Chevron Nigeria, Bank of Industry, Atlantic Marine and Oilfield Services, Access Bank, Aradel Holdings, Prime Atlantic Safety Services, FirstBank, ND Western, GCA Energy, and NEXIM Bank.

Speakers from the sector – among them Humphrey Okposo of Atlantic Marine, Weyimi Metseagharun of NLNG, Victor Bandele of TotalEnergies, Obi Uzu of the Petroleum Technology Association of Nigeria (PETAN), and Christopher Osarumwense of the Oil and Gas Trainers Association of Nigeria (OGTAN) – highlighted the need for stronger HSSE integration across energy operations and infrastructure.

A major highlight of the conference was the launch of the PSRG-Richardson Job Fair, designed to bridge the gap between academia and industry. The fair, inaugurated by Afolabi Lesi, deputy Vice-Chancellor (Development Services) of the University of Lagos, created direct engagement between students and employers, offering pathways for graduate trainee and internship placements.

The Forum also celebrated academic excellence through the Bode Osunkoya Prize, instituted in honour of the late Chairman of Richardson Oil and Gas.

The 2025 winners were Oluwaseyi Amaize, a final-year Chemical Engineering student (First Prize, $1,000); Justice Esiri, Mechanical Engineering (Second Prize, $750); and Ojo Babajide Favour, Pharmacy (Third Prize, $500). Amaize presented his award-winning paper before an audience of industry executives and academics.

Organisers said the 2026 edition will extend discussions beyond Nigeria to deepen regional collaboration around local content, digital transformation, safety innovation, and climate adaptation – reinforcing the Forum’s position as the Gulf of Guinea’s leading HSSE knowledge platform.

The PSRG-Richardson HSSE Forum, now in its 17th year, continues to bridge the gap between policy, practice, and innovation – setting the tone for Nigeria’s energy transition and its quest to become the Gulf of Guinea’s dominant hub.

Lokpobiri, Lyon, Deigi, top Bayelsa APC leaders hail Diri’s resignation from PDP

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Bayelsa State Governor, Douye Diri, for what he described as a courageous and patriotic decision to leave the Peoples Democratic Party (PDP) in the interest of the state.

Lokpobiri praised the governor for ‘jumping out of the sinking ship’ and demonstrating maturity, foresight, and a deep understanding of the times. He said Diri’s decision reflected a commitment to Bayelsa’s growth and its alignment with national development priorities.

The Minister urged Governor Diri to formally join the All Progressives Congress (APC) to ensure full alignment with the Federal Government and take advantage of the transformative policies and opportunities under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Top APC leaders in Bayelsa – including former Governor-elect David Lyon, Senator Degi Eremienyo, Osomkime Blankson, and Hon. Israel Sunny-Goli – have also welcomed Diri’s resignation from the PDP, describing it as a strategic step toward greater collaboration with the Federal Government.

There are indications that Diri, along with members of his Executive Council, lawmakers, Local Government Chairmen, and key supporters, are preparing to officially declare for the APC in what is seen as a collective and strategic political realignment.

Governor Diri’s exit from the PDP came less than 24 hours after his Enugu State counterpart, Governor Peter Mbah, also dumped the party and joined the APC – a development that signals a growing wave of defections across the South-South and South-East regions.

Pathway Advisors Limited Bags BAFI Award as Best Issuing House and Financial Advisor of the Year Award

Pathways Advisors Limited (PAL), a leading investment banking and financial advisory firm, bagged the Best Issuing House and Financial Advisory Firm of the Year at the 2025 edition of BusinessDay Banking and Other Financial Institutions (BAFI) Awards.

The award was conferred on PAL on Saturday, October 11, 2025, in recognition of its effort to provide accurate knowledge of financial markets tailored to clients’ needs and commitment to ethical and transparent practices in the financial industry.

Receiving the award on behalf of the company at the ceremony held at Lagos Intercontinental Hotel, Victoria Island, the Founder and Chief Executive Officer, Adekunle Alade (FCA, MBA), described the achievement as a well-earned recognition that showcases the company’s mastery in structuring capital market solutions, advisory excellence, and deep credibility with institutional investors in Nigeria.

He noted that the award marks a significant milestone in the company’s journey toward delivering end-to-end solutions in equity, debt, ratings, and structured finance with consistently strong performance to its clients.

He further explained that the recognition demonstrates the company’s competence across short-term and growth financing markets, strategic partnerships, and a track record of integrity, trust, and innovation.

In late 2024 and early 2025, we successfully raised over N300 billion in funding through a commercial paper and corporate bond issuance to companies across agro-commodities, manufacturing, real estate, oil and gas, healthcare, and technology. Beyond that, our expertise extends to mergers and acquisitions, project finance, financial restructuring, and rating advisory. Over the years, we have built a reputation for trust, integrity, and innovation. Our strategic partnerships and track record with both corporate and financial institutions now place us among Nigeria’s top-tier investment banking and advisory boutiques,’ he said.

Co-founder/Director, Pathway Advisors Limited, Dolapo Akanbi-Alade, stated that the honour is a testament to the team’s hard work and dedication to supporting credible companies in Nigeria.

The BAFI Awards, convened by BusinessDay Intelligence and Research Unit, have become the benchmark of distinction for institutions in Nigeria’s financial services sector. Since 2013, the BAFI Awards have stood as Nigeria’s most rigorous recognition of excellence in financial services, judging institutions on performance, innovation, governance, and client impact.

Pathway Advisors Limited is a leading investment banking and financial advisory firm, with expertise spanning mergers and acquisitions, Capital Raising, Project and Structured Finance, and Rating Advisory Services. Licensed by the Securities and Exchange Commission (SEC) as an Issuing House, Underwriter, and Financial Adviser, Pathway Advisors is also a Quotation Member and Transaction Sponsor with FMDQ Securities Exchange Limited and FMDQ Private Markets Limited. Also, a member of the NASD OTC Market

FG approves only private varsities that meet standards – NUC

ýAbdullahi Yusufu Ribadu, Professor and Executive Secretary of the National Universities Commission (NUC), said the Federal Government only approves the establishment of private universities that meet rigorous standards designed to expand access and strengthen the nation’s higher education system.

ýRepresented by Ayoteju Ojo, Deputy Director in the Executive Secretary’s Office at the 20th Anniversary of Redeemer’s University, Ede, Osun State and 17th Convocation, Ribadu said higher education plays vital role in shaping modern society, serving as a source of ideas, innovation, and social transformation.

ýHe explained that the policy of licensing private universities was aimed at enhancing capacity and improving quality within the Nigerian university system, saying ‘Redeemer’s University stands as a shining example of this vision. Since its establishment in 2005, it has produced graduates who are globally competitive, ethically sound, and entrepreneurial in outlook.’

ýAccording to him, NUC proudly acknowledges Redeemer’s University’s spelling record in research, innovation, community engagement and quality assurance, all of which align globally.

ýRibadu urged the graduates to be job creators, not job seekers, and to use their education to promote ethical leadership and good governance adding, certificate you receive today is not just a qualification, it is a license to innovate, lead and stand.

ýIn his charge to the graduating students, Shadrach Akindele, Professor and Vice-Chancellor of Redeemer’s University, called on the Indomitable Set of 2025 to be diligent and innovative.

ý

ý’You are graduating into a world that is both exhilaratingly connected and deeply challenging. The world does not need more spectators or critics, it needs solution architects. It needs problem-solvers. It needs leaders of integrity, compassion, and vision.

ý’Do not fall for the seductive cynicism that says Nigeria is a lost cause. It is not. Nations are built by the dogged, determined efforts of their citizens, not magic or complaint. You are now among the most highly educated 1% of this nation’s youth.’

Fed Govt, UNDP commit to net zero emission 2060

The Resident Representative, United Nations Development Programme, UNDP, Ms. Elsie Atafuah has disclosed that Nigeria and UNDP have united to ignite a movement that reflects the country’s bold commitments to achieving Net Zero emissions by 2060.

This she said is also to conserve 30 percent of the land and marine ecosystems by 2030, noting that these targets are ambitious, but with the right partnerships and commitment, they are within reach, therefore they are not just launching a project but igniting a movement at both ends.

Atafuah who was represented by Chidimma Blessed disclosed this at the

Net Zero Nature Positive (NZNP) Project in Abuja, a bold global initiative funded by the Global Environment Facility (GEF) and implemented in partnership with the United Nations Environmental Programme(UNEP), the United Nations Development Programme (UNDP), and a coalition of national and international stakeholders, united in the commitment for climate action and nature restoration.

She said, ‘Nigeria and the UNDP are united in its commitment to climate action and nature restoration. We know too well that the urgency is real, climate change is already disrupting lives and livelihoods, biodiversity loss is accelerating, and vulnerable communities are bearing the heaviest burdens. The Niger Delta, especially Rivers State and Bayelsa stands at the frontlines of these challenges.

‘This initiative aligns with Nigeria’s National Agenda on climate change mitigation and adaptation, as championed by President Bola Ahmed Tinubu, under his leadership, Nigeria is accelerating efforts to implement the revised Nationally Determined Contributions (NDCs), advance the Energy Transition Plan, and drive forward policies that promote climate resilience, green growth, and environmental justice, especially in the Niger Delta region’.

She assured that, through this project, they will work with state governments in Rivers and Bayelsa to integrate net-zero and nature-positive strategies into development planning. Support communities to champion restoration efforts that reflect cultural values and local wisdom. Partner with women’s cooperatives and youth networks by ensuring they are not only beneficiaries but leaders of the green transition.

As UNDP ‘we are committed to working side by side with our partners, the ministry of Environment, UNEP, the GEF, State governments, and local stakeholders to ensure this project delivers not just on global indicators, but also on the daily realities of farmers, fisherfolk, market women, youth entrepreneurs, and community custodians of nature’.

Speaking, the Director Planning Research and Statistics, and the GEF focal point, ministry of Environment, Mrs. Aneke Agnes Nkechi said, this marks a significant step in Nigeria’s collective journey towards the transition to a Net Zero and Nature Positive future by promoting ecosystem restoration, expanding access to clean energy and de-risking sustainable investments. The project will also support Nigeria’s vision in achieving the Nationally Determined Contributions (NDCs), Nature Positive Commitment by 2030 and Net Zero emission target by 2026.

Buni approves N5.8bn gratuities for Yobe pensioners

Governor Mai Mala Buni has approved the immediate release of ?5.8 billion for the settlement of all outstanding gratuity liabilities owed to retired State public officers.

‘This significant milestone underscores the administration’s unwavering commitment to the welfare of its dedicated civil servants who have served the state meritoriously’, a statement by Mohammed Abatcha Geidam, Commissioner of Finance, said.

The statement added that the governor had further directed that, going forward, the payment of gratuities must be integrated into the State’s monthly financial schedule.

‘This means that cleared gratuity payments will be made monthly, alongside the regular pension payments, ensuring that no future backlog of retirement benefits is allowed to accumulate’, the Commissioner said.

Mohammed Abatcha Geidam added that the approval of ?5.8 billion was a ‘clear demonstration of Governor Buni’s compassionate leadership and his administration’s deep appreciation for the years of service rendered by Yobe’s retirees.

‘By clearing this substantial backlog and institutionalizing a prompt, monthly payment system, the governor has provided much-needed financial relief and restored dignity to our senior citizens’, he added.

The statement emphasised that the Ministry of Finance and the Office of the Head of Service are working collaboratively to ensure the seamless and transparent disbursement of these funds to all affected retirees immediately.

‘This bold financial step is part of the Governor’s broader economic and social agenda to ensure fiscal responsibility and prioritise the welfare of Yobe State citizens, particularly those who have contributed immensely to its development’, the Commissioner added.

Existing revenue formula outdated, says RMAFC

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has described the current revenue sharing formula as obsolete, saying it no longer reflects Nigeria’s fiscal and governance realities.

RMAFC Chairman, Dr. Mohammed Bello Shehu, stated this yesterday in Abuja during a panel discussion titled ‘Recalibrating Nigeria’s Revenue Allocation Formula.’

He said the existing formula, which was last reviewed in 1992, had become outdated and inadequate for addressing today’s demographic pressures, subnational fiscal responsibilities, and macroeconomic challenges.

‘Our goal is to design a new formula that empowers state and local governments to meet their constitutional obligations effectively while maintaining national cohesion and macroeconomic stability,’ Shehu said.

According to him, the Commission is developing a data-driven and equitable model that will ensure fairness among all tiers of government. He urged participants to view the process as a national duty rather than a contest of interests.

‘The choices we make here will determine the ability of governments to deliver education, healthcare, and infrastructure to Nigerians,’ he added.

Shehu also disclosed that recent amendments to the RMAFC Act now empower the Commission to engage directly with private sector entities, including oil companies, to verify and recover revenues due to the Federation. He emphasised that beyond allocation, revenue mobilisation and accountability were critical to sustainable development.

The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, commended the initiative, noting that equitable revenue mobilisation was central to national stability.

‘Our Constitution envisages cooperation among all tiers of government in advancing the welfare and security of the people. Equity must begin with revenue mobilisation, not merely allocation,’ he said.

Similarly, Senator Yahaya Abdullahi, Chairman of the Senate Committee on National Planning and Economic Affairs, called for political consensus and transparency to ensure the success of the reform.

Special Adviser to the President on Policy Coordination, Hajiya Hadiza Bala Usman, urged a courageous and conclusive review aligned with Nigeria’s development priorities.

Representing Kwara State Governor Abdulrahman Abdulrazaq, Dr. Abdulateef Shittu, pledged the Nigeria Governors’ Forum’s support for a fair and workable formula.

Alhaji Kabir Mashi, Chairman of the Revenue Allocation Formula Committee, assured that all stakeholder recommendations would be integrated into a balanced and sustainable revenue sharing framework for the country.

Omolara Joseph: Decision is everything

The difference between two persons, between good and evil, between life and death, or between success and failure may be decision, just decision.

One woman who has had many important decisions to take in her life is Omolara Joseph, simply Mummy Lara, wife of Bolarinwa Taiwo Joseph, a retired engineer.

Mummy Lara took perhaps her biggest decision in life when she chose Christ. She was a Muslim girl until she chose a new life. Today, she is a zonal pastor in the Redeemed Christian Church of God (RCCG) manning the Living Water zonal headquarters in the Mvuigwe section of Woji.

She has faced many other important moments in her life such as deciding who to be wife to, deciding what never to get involved in when she was in NAFCON in Onne, near Port Harcourt, or who to accept as sons-in-law, etc.

In life with Christ, she has also had very sensitive decisions to take, including to push ahead or run back.

The implication of all this is that Mummy Lara has no patience with those that don’t know when to make prompt decisions. This defines her. For her nature and decision-making attributes, many see her as tough. This is because a lot of people need others to take decisions for them. She will not tolerate that. She rather shouts you into awakening so you wake up and take up your responsibilities.

Mummy Lara clocked 69 last week, and on Sunday, October 12, she was celebrated by the Christian Community in Port Harcourt.

The hall was filled to capacity and drama groups, choirs, men and women rallied to hail the star in the Ministry. She was 30 years in ministry.

The entire ceremony was dominated with skits on her life and her nature of spiking and sparking others to what is right.

On the day, heavens rose in salute to a rare gem.