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Peso, oil risks seen keeping stock investors cautious

Philippine stocks may face cautious trading this week as peso weakness, elevated oil prices and the prospect of further interest rate increases weigh on investor sentiment, according to F. Yap Securities Inc.

In its outlook for Nov. 2 to Nov. 6, the brokerage said investors would also scrutinize corporate earnings guidance for signs that higher borrowing costs could delay expansion plans or affect dividends.

F. Yap identified a break below 5,600 as a signal to reduce exposure further, while a sustained close above 5,800 could support additional buying.

The benchmark Philippine Stock Exchange Index (PSEi) ended last week at 5,680.35, down 0.84 percent.

The peso closed at P63.74 against the dollar on Friday after reaching P64.20 during the week, according to the report.

F. Yap said a weaker currency could compound pressure from elevated oil prices by making imported fuel and food more expensive.

The firm warned that these conditions could weigh on consumer confidence during the holiday quarter.

The brokerage expects a possible US Federal Reserve (Fed) rate increase on Dec. 9, followed by another Bangko Sentral ng Pilipinas hike on Dec. 17.

This scenario could limit gains in rate-sensitive stocks before year-end.

The Fed kept its benchmark rate at 3.75 to 4 percent at its latest meeting, the report noted.

Beyond quarterly earnings, F. Yap said management commentary would be crucial in assessing companies’ prospects.

With funding costs higher and the peso under pressure, the brokerage expects some property developers and conglomerates to reduce or postpone capital expenditures for 2027.

Such decisions could also affect cement producers and construction suppliers.

Dear Customer Care, I have no money to subscribe

These are tough times. Even the sun and the rain cannot decide what they want: who should go first and who should wait.

One minute it is scorching hot, and the next it is pouring, filling up swamps and bringing down wall fences. But life has to go on. It has to be lived. Depreciating shilling or not, high fuel prices or not, we have to keep going.

There are seasons and times. Good times and hard times. That is just the way life is. I also know that some people’s lives are one long difficult episode, and the good times only come to their children or children’s children or, in the very unfortunate cases, the children’s children’s neighbours. But I hope you have at least one happy and good season in your time here on earth.

Financial difficulty is not the end of life. I have been there, done that, still doing it, and I still believe hardships are just for passing through, picking up the lessons therein, not for camping under and dwelling on. So abeg, put a polite end to the pity party, get your butt out of bed and go look for some more disappointments to learn from. Think of all the failures and mistakes as tuition fees in the school of life.

So, now that we have accepted our reality, what are we going to do about it? Continue crying about the expensive cost of life? Try to live the same exact way we did when ‘diri wo’ was our response to everything?

The other day, the minister said people crying about the price of fuel should stop making unnecessary movements. Only go where you must. It is also not compulsory to drive everywhere you go, banange. Imagine, you can actually walk to some places, take a taxi or just stay online. I promise no one will kidnap you from the streets. Even kidnappers have other things to do.

Some meetings can be online. I know you hate having to remind people to turn off their microphones every five seconds during online meetings, but that does not cost Shs7,000 per litre.

Also, employers, why are you insisting that people show up to physical work locations when they can work half the week at home and still get the work done? This is what caring for your people really means. We appreciate the motivational quotes about teamwork sent to us every morning, but please, meet us where we are hurting the most.

Allow people to work ko from home. Even the road constructors work from home most of the time. How else do you explain why they dig up roads, decorate them with ‘men at work’ signage and then disappear for days on end, not bothered at all that they are causing the mother of all traffic jams?

In the spirit of cutting down expenses because there is just no way to pay for everything, when the TV subscription ended, we did not renew. We found other ways to entertain ourselves. And because they are also looking for money, the TV people have been bombarding us with customer care calls reminding us to subscribe.

Dear Customer Care, I do not have money; that is why I have not renewed the subscription. No, I do not need a reminder of the list of channels. I know all the channel names and programme line-up by name. I just do not have money to pay. Not yet.

So, maybe even these customer care follow-up calls should change. Change the script. These are different times. Get creative. Who knows, maybe if you impress us with your creativity, we will buy a TV subscription instead of tomatoes.

Meanwhile, you who is still a slave to social pressure, keeping up with the Joneses, keeping up appearances, call it what you want; I see you. And when you eventually cross the threshold where social pressure ain’t got nothing on you, we will still see you and celebrate you. In the meantime, ‘buli omu agumye munne.’

Our president’s ‘Pilgrim’s Progress’

I hope I won’t land in trouble if I interrogate the various reasons people go on pilgrimage to Saudi Arabia and Jerusalem. Some go to pray; some to play; some to meet and do politics; some to commit crime; some with their mistresses; some for medical treatment; some to japa.

The Northern Nigeria Annual Report for 1906-1907 recorded William P. Hewby, the Resident of Borno Province, observing a steady flow of some 5,000 people travelling eastwards to Mecca. ‘Not half of them return,’ the colonial officer wrote. The report called those people ‘pilgrims, or so-called pilgrims’ and added that ‘ a large percentage (of them) are Hausas and Fulani malcontents, of whom we are well rid.’ They were checking out not really to do Hajj, but to escape from the burden of tax placed on them by the authorities. The colonial rulers were not bothered that they were leaving.

An elephant is beyond ‘I glimpsed something’; if we have seen an elephant, let us say so. The colonial government evidently considered this ‘steady flow’ of their subjects no passing matter: it made it the opening paragraph of the Borno section of its 1906-1907 report.

So, what became of those who went and never returned? On 14 June 1958, The Nigerian Citizen newspaper carried a front-page report of a planeload of destitute Nigerian pilgrims repatriated from Saudi Arabia to Kano. Among them was a certain woman, Hajia Rakia of Danbatta, Kano Province, who had left Nigeria with her husband in 1925. The couple had made the ‘long and arduous journey on foot, alone, carrying their scanty possessions and precious store of water on donkey back.’ They completed the Hajj but stayed on.

Yet, unlike Rakia, some go and return; but while going, they took detours before attending to the religious purpose of their journey. In 1921, the Emir of Katsina, Muhammadu Dikko, went on the Hajj by way of England rather than overland across the desert like ordinary believers did. Historian Matthew M. Heaton, said Emir Dikko travelled by train from Kano to Lagos, then boarded a passenger liner to Liverpool. He spent several weeks in England and met King George V, becoming the first Nigerian emir to have a direct audience with a British monarch. Only then did he turn east towards Mecca.

Today, some Nigerian leaders undertake pilgrimages with itineraries that leave room for questions about where devotion ends and the business of politics and medicals begin.

President Bola Tinubu last week travelled to perform Umrah, the lesser Hajj. A statement from his office said the visit would provide the 74-year-old president with an opportunity for ‘spiritual reflection, devotion and prayers for Nigeria’s peace, unity, stability and continued progress.’

René Descartes teaches us to begin every task with doubt. Besides, seeing someone in public is not the same as following them home. Our president’s enemies wanted to look beyond the announced purpose of the pilgrimage. They suspected a political or medical mission, perhaps even a detour to an undisclosed destination. One of them, Atiku Abubakar, demanded photographic proof. And he got still and moving pictures.

On Friday, October 30, after completing the Umrah, the president announced: ‘I feel fulfilled.’ Channels Television quoted him as describing the exercise as a spiritual experience and an opportunity to pray for Nigeria: ‘It’s a spiritual thing for me and the country, Nigeria. I’m grateful to Allah for this opportunity.’

In John Bunyan’s ‘Pilgrim’s Progress’, we see the pilgrim journeying towards salvation. What if I ask: What destination did our president’s pilgrimage promise a country perennially burdened by hunger and fear?

If I had had the opportunity, I would have asked the president what specific prayer he said for Nigeria. A prayer for leadership that cares? A prayer against electoral heist next year? A prayer for the hungry to have something to eat; for the satiated to be satisfied; and for our giants to take their boots off the nation’s face? What were the prayer points?

Kyari warns opposition against politicising 2027 food insecurity projection

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has cautioned opposition politicians against turning the October 2026 Cadre Harmonisé food security assessment into political propaganda.

Kyari said the projection that 33.5 million Nigerians could face severe food and nutrition insecurity between June and August 2027 should not be interpreted as a consequence of President Bola Tinubu’s re-election or continuation in office.

The minister, in a statement issued on Monday, described attempts by some opposition voices to politicise the assessment as unfortunate, insisting that the report was a technical early-warning instrument rather than an election forecast.

He explained that the Cadre Harmonisé was developed by the Permanent Inter-State Committee for Drought Control in the Sahel (CILSS), in collaboration with regional and technical partners, including the Food and Agriculture Organisation (FAO), World Food Programme (WFP), FEWS NET, UNICEF and the Integrated Food Security Phase Classification (IPC).

According to him, the assessment is designed to identify food and nutrition security risks and enable governments and development partners to respond promptly.

Kyari noted that the projected figure of 33.5 million represented a decline from the 34.8 million projected for the corresponding period in 2026.

He, however, explained that the assessment framework does not conduct retrospective evaluations after the projected period to establish whether the initial projections were accurate.

The minister identified climate change, inconsistent rainfall, prolonged dry spells and the Super El Niño phenomenon as some of the major factors contributing to food and nutrition insecurity, noting that these developments had disrupted weather patterns, planting seasons and agricultural production.

He maintained that the challenges were not consequences of the continuation of any particular political administration.

Kyari said the Federal Government, under President Tinubu, was responding to the identified risks through expanded access to fertilisers and other farm inputs, increased mechanisation, irrigation and dry-season farming, improved agricultural financing, investment in storage and processing facilities, and the promotion of climate-resilient agriculture.

He also highlighted improved security in several farming communities, which he said had enabled farmers who previously could not access their farmlands to return to cultivation.

The minister specifically cited Marte and Guzamala in Borno State, which were previously inaccessible to data collectors but have experienced improved stability, allowing the Cadre Harmonisé assessment to be conducted in the areas.

He further listed progress in fertiliser distribution and local blending, support for smallholder farmers, mechanisation partnerships, expansion of dry-season farming and strengthened agricultural financing through the Bank of Agriculture as part of the government’s interventions.

While acknowledging that the measures would not resolve all the country’s food security challenges overnight, Kyari described food insecurity as a longstanding structural problem that had developed over several years and predated the present administration.

He, however, insisted that agriculture had recorded significant progress since Tinubu assumed office.

‘As Minister, I accept the responsibility that comes with this challenge. When the data identifies a risk, our duty is to act on it, not to hide from it,’ he said.

The minister urged political actors to exercise caution and responsibility when interpreting food security data, warning against exploiting the difficulties faced by millions of Nigerians for political gains.

He said the government welcomed scrutiny and constructive criticism but maintained that there was a difference between legitimate political debate and the deliberate misrepresentation of technical assessments for electoral propaganda.

Kyari assured that the government would continue to use the findings of the Cadre Harmonisé assessment to strengthen agricultural interventions, support farmers, protect livelihoods and improve access to safe, nutritious and affordable food.

NGX sheds N35bn as bearish sentiment weighs on equities

Nigerian equities market opened the new trading week on a bearish note on Monday, as renewed selling pressure on heavyweight stocks dragged market capitalisation down by N35.25 billion, amid weak investor sentiment and mixed sectoral performance.

The Nigerian Exchange Limited (NGX) All-Share Index declined marginally by 0.02 per cent to 254,245.21 points, moderating its year-to-date return to 63.38 per cent, while market capitalisation fell to N165.08 trillion.

Market breadth remained weak, reflecting subdued appetite for equities, as 41 stocks closed in the red against 21 gainers, translating to a breadth ratio of 0.5 times.

The decline was led by Champion Breweries, SUNU Assurances and Aradel Holdings, which featured among the worst-performing stocks during the session.

The performance suggests that investors remained cautious, with limited buying interest in major stocks failing to offset losses across several sectors.

Sectoral performance was largely negative, as four of the six tracked sectors closed lower. The Oil and Gas index led the decline, shedding 3.75 per cent, followed by the Commodities sector, which fell 2.76 per cent.

The Banking index declined by 1.79 per cent, while Consumer Goods lost 1.17 per cent, reflecting broad-based selling pressure across key market segments.

However, the Industrial sector bucked the trend, advancing 3.34 per cent to emerge as the strongest performer, while the Insurance index gained 0.93 per cent.

Trading activity also weakened considerably, with both volume and value of transactions declining, although the number of deals increased sharply.

Turnover fell by 44.67 per cent to N47.48 billion, while traded volume dropped by 48.15 per cent to 517.26 million shares.

In contrast, the number of transactions increased by 42.63 per cent to 54,015 deals, suggesting that trading remained active despite the decline in the overall value and volume of shares exchanged.

Market analysts expect sustained selling pressure and weak breadth to constrain the market’s near-term recovery, although selective bargain-hunting in fundamentally attractive stocks could help moderate further losses.

Despite Monday’s marginal decline, the equities market maintained a year-to-date gain of 63.38 per cent, underscoring the substantial appreciation recorded since the beginning of the year.

8 ways to navigate year-end inventory liquidation challenge

On one side lies the opportunity of peak seasonal demand; on the other, the danger of entering January with working capital trapped in deadstock. Storing unsold goods through the first quarter incurs real carrying costs, consumes warehouse capacity, and ties up liquid funds needed for fresh Q1 inventory.

When consumer demand cools after the holidays, holding onto surplus inventory turns into a direct drain on business health. Warehousing costs mount, physical space becomes cramped, and cash that should be reinvested into fresh stock or core operational expenses remains locked on store shelves. Executing a structured, data-informed year-end inventory liquidation protects working capital while safeguarding brand equity.

Audit stock velocity before discounting

Clearing deadstock effectively begins long before cutting retail prices. A common mistake among small business owners is applying flat discounts across all remaining products when sales slow down. Broad markdowns needlessly sacrifice profit margins on items that would naturally sell at full price given a few extra weeks.

Instead, a systematic inventory audit separates fast-moving core items from seasonal peak stock and true deadstock that has remained stagnant for over sixty days. Classifying inventory based on movement speed reveals precisely where markdowns are required. This approach prevents panic pricing and ensures that promotional discounts target only the specific stock holding down liquidity.

Bundle aging goods with seasonal bestsellers

Storing leftover products past their natural selling window involves far more than simply occupying shelf space. Stagnant inventory incurs direct financial carrying costs, including warehouse fees, physical handling, insurance premiums, and the risk of product degradation or obsolescence.

When goods sit idle for months, their effective profit margin steadily erodes until the cost of holding them exceeds their original retail value. Small business operators must recognize that holding out for a full-price buyer late in the season often costs more than accepting an immediate, modest loss. Recognizing these daily storage costs makes aggressive year-end clearance a rational, profit-protecting strategy rather than a compromise.

Structure private liquidation channels

Slashing prices on individual items can sometimes signal financial distress to customers or lower the perceived quality of a premium brand. An effective way to clear slow-moving inventory without cheapening primary product lines is strategic product bundling.

Pairing an aging, slow-moving item with a high-demand holiday bestseller creates an attractive composite offer for shoppers. The customer perceives increased value in a complete package deal, while the merchant successfully liquidates holding costs and recovers wholesale capital. This tactic clears shelf space efficiently while keeping stand-alone product prices intact across public sales channels.

Time discount waves to capture Q4 cash flow

Publicly advertising massive discounts on primary storefronts can alienate recent full-price buyers and invite unwanted friction. Seasoned retail managers avoid this by utilizing private, targeted liquidation channels to move surplus inventory quietly.

Exclusive email lists, dedicated buyer groups, and direct outreach to corporate clients provide private avenues for bulk inventory sales. Offering specialized package deals directly to repeat customers creates an air of exclusivity while clearing surplus stock in volume. This targeted approach protects public price integrity while reliably converting excess stock into immediate operational cash.

Convert liquidation revenue into working capital

Liquidation is most profitable when executed as a series of planned, time-sensitive promotions rather than a single post-holiday clearance event. Waiting until January to begin discounting forces a business to compete with every other merchant attempting to dump stock simultaneously.

Staggering markdowns across November and December captures early bargain hunters and late-season holiday shoppers alike. Early promotional waves can offer soft incentives, such as gift-with-purchase bundles, while final clearance markdowns clear remaining items right before year-end books close. This gradual approach ensures steady cash inflows throughout the busy season rather than a delayed trickling of revenue in the new year.

Renegotiate supplier terms using recovered liquidity

The ultimate goal of year-end inventory liquidation goes beyond empty shelves; it centers on converting stagnant physical assets into immediate liquid reserves. The fresh cash generated from successful clearances should be deployed strategically to strengthen the business’s balance sheet before Q1 begins.

Liquid capital allows business owners to pay down high-interest short-term credit lines or settle outstanding vendor accounts early. Furthermore, entering the new fiscal year with cash on hand provides leverage when negotiating wholesale prices or payment terms for upcoming seasonal orders. Cash availability consistently translates into better vendor terms and stronger operating margins.

Set strict inventory baselines to prevent future overbuying

A successful liquidation cycle provides valuable operational data that should directly inform future purchasing decisions. The inventory types that required deep discounting to move represent clear indicators of overestimating market demand or misjudging delivery timelines.

Documenting these trends helps business managers refine their purchasing forecasts for the following year. By setting lower stock thresholds on risky product lines and establishing tighter reorder triggers, businesses avoid repeating the cycle of overbuying. Turning liquidation insights into better purchasing habits ensures long-term operational resilience.

Structure clean financial transition into the new fiscal year

Entering January with lean store shelves, updated balance sheets, and liquid reserves positions a business for immediate growth. Trying to manage fresh Q1 projects while surrounded by leftover Q4 stock creates operational friction and distorts financial reporting.

Closing out inventory write-offs and recording cleared stock before year-end accounting closes provides an accurate baseline for new financial targets. This clean break gives management clear visibility into actual profitability, helping them set realistic budgets and focus entirely on driving momentum in the new year.

Bamidele: National Assembly proposes 74 extra seats for women

The National Assembly is considering a proposal to create 74 additional seats for women in the Senate and House of Representatives as part of efforts to address gender imbalance in Nigeria’s political representation Senate Leader Opeyemi Bamidele has said.

Bamidele also disclosed that the ongoing review of the 1999 Constitution includes a proposal to create three additional seats reserved for women in each of the 36 State Houses of Assembly.

He said the proposed seats would be in addition to existing legislative positions ensuring that no constituency loses its current representation.

The Senate Leader who is Vice Chairman of the Senate Committee on the Review of the 1999 Constitution made the disclosure on Monday at the 2026 Law Week organised by the Ekiti State chapter of the International Federation of Women Lawyers (FIDA).

The programme chaired by Mrs Ayobami Olowoyo-Richards had the theme: ‘Justice in a Changing World: Responding to New Challenges Affecting Women and Children.’

Bamidele said the proposal if approved would create 37 additional seats in the Senate and another 37 in the House of Representatives giving every state and the Federal Capital Territory one additional seat in each chamber.

‘A Bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria 1999 to provide for special seats for women in the National and State Houses of Assembly and for related matters is receiving our attention at the National Assembly’ he said.

He explained that the proposed arrangement would operate for 16 years covering four electoral cycles after which it would be reviewed.

‘This arrangement is proposed to run for a period of 16 years four electoral cycles before a comprehensive review. This is a sunset clause designed to ensure sustainability and allow for the organic development of a more inclusive political culture’ he said.

The Senate Leader said the National Assembly was engaging State Houses of Assembly to secure the constitutionally required approval expressing confidence that the proposal would receive the necessary support.

‘We are actively and strategically engaging with the State Houses of Assembly as their concurrence is a constitutional sine qua non for bringing this reform to fruition’ he added.

Bamidele described the initiative as a non-partisan effort to strengthen representative democracy arguing that women should have a greater voice in decisions affecting the country.

‘The special seat initiative is not a partisan endeavour. It is a historic imperative. The rationale is anchored in a simple yet profound principle of constitutional law: the foundational precept of representative democracy’ he said.

He added ‘A democracy that systematically excludes over half of its population from the decision-making tables that determine their futures is at best flawed and at worst a veiled oligarchy.’

He said the 10th National Assembly’s commitment to the proposal had been strengthened by advocacy from prominent stakeholders including the First Lady Senator Oluremi Tinubu.

Beyond political representation Bamidele called for stronger legal and institutional safeguards for women and children urging lawmakers to ensure that legislation responds effectively to emerging forms of abuse and exploitation.

He stressed that justice must go beyond constitutional provisions and be accessible to ordinary citizens.

‘Justice should be more than a promise merely expressed in the Constitution or a provision enshrined in our statute books. Rather it must be accessible affordable timely and effective’ he said.

He added that women experiencing domestic violence should be able to seek protection without intimidation while children subjected to abuse must receive appropriate protection and support.

‘Victims must have access to legal assistance medical care and psychosocial services while perpetrators must be held accountable in accordance with due process and the rule of law’ he said.

The event was attended by the Chairman of the House of Representatives Committee on Information and National Orientation Steve Fatoba and the Speaker of the Ekiti State House of Assembly Adeoye Aribasoye among other dignitaries.

Okada rider stabs man to death over transport fare dispute in Ibadan

An okada rider has stabbed a 25-year-old man (name withheld) to death at Olodo garage area of Lagelu Local Government Area, Ibadan, Oyo State.

Eyewitnesses stated that the deceased was stabbed to death by an enraged okada rider over an alleged breach of agreement on the payment of the transportation fare as agreed upon.

It was gathered that the refusal of the deceased to honour the agreement reached with the okada rider resulted in a scuffle between them, which eventually led to his untimely death.

The okada rider, as reliably informed, stabbed the deceased with a sharp object, having realised that he could not match his strength.

The death of the man has sparked off violence in the area, as business and other related activities have been grounded.

Our source stated that people living in the area have been subjected to untold hardship, as okada riders have withdrawn their services for fear of reprisal attacks.

Confirming the incident in a telephone chat with our correspondent, the Police Public Relations Officer, Ayanlade Olayinka, said the matter is under investigation.

PDP members back Sani over roads in Kaduna

Members of Peoples Democratic Party (PDP) in Soba Local Government Area of Kaduna State have declared their support for Governor Uba Sani ahead of next year’s governorship election citing his building of roads in their communities.

The residents said they would support the governor at the polls despite their membership of the opposition party noting that his performance in infrastructure development had earned him their backing.

One of them Adamu Danburam a PDP coordinator in his area said he would vote for Sani because the governor had done for his community what the PDP had failed to do.

He said: ‘I am a staunch PDP member but for us politics is about individuals. Although we belong to the PDP I will vote for Sani because he has done for me what the PDP could not do.

‘Even as a PDP coordinator in my area I will vote for Sani because we should vote for someone who knows our community and has done something to improve our lives. I support him because he has constructed a road for us.’

Danburam prayed for the governor to complete his tenure saying residents hoped he would address other challenges facing their communities if re-elected.

He appealed to the governor to provide a hospital electricity and potable water for Birnin Da’a village.

Another PDP member Dogara Mohammed said he had never changed political parties but would vote for All Progressives Congress (APC) in the forthcoming election because of the road built through his community.

‘Everybody knows that I have never changed political parties but this time I will vote for APC because of the road he constructed through our town.

‘The road will benefit many people including future generations. It will also help many people across the country especially those who use it to travel’ he further said.

Mohammed added that the residents intended to reward the governor for the project through their votes.

Similarly Hassan Abdullahi said the poor condition of roads had previously made it difficult for farmers to transport their produce to markets in Soba and other locations particularly during the rainy season.

‘Before the road was constructed we faced serious difficulties because of the poor road network. It was difficult to transport our farm produce to markets especially during the rainy season.

‘But now Governor Sani has built a road linking Gurundafi Soba and Turawa. We can reach our destinations easily within a few minutes.

We are truly grateful’ he said.

The residents described the road project as an intervention that would improve transportation ease the movement of farm produce and support economic activities in their communities.

Kaduna State Government has also built roads in other parts of the state including a 15-kilometre road linking Kasuwar Magani to Wusar in Kajuru Local Government and a 23-kilometre road linking Madaci to Madakiya and extending to Kafanchan in Jema’a Local Government Area of Southern Kaduna.

Outdated legal framework obstacle to fire service reform – Tunji-Ojo

Minister of Interior, Dr Olubunmi Tunji-Ojo, has identified the outdated legal framework governing the Federal Fire Service as a major obstacle to its transformation into a modern fire and rescue service.

He said the Fire Service Act, which dates back more than 60 years, no longer provides adequate legal backing for the demands of contemporary emergency response operations.

Tunji-Ojo stated this on Monday in Abuja during the 2026 National Fire Safety Week, with the theme, ‘Building a Fire-Resilient Nigeria: One Community at a Time.’

He explained that the Federal Government was determined to reform the service through a new legal framework that would strengthen its operational capacity, improve emergency response, and expand rescue operations across the country.

‘No matter how good an action is, if the law does not empower you to do it, it becomes illegal,’ the minister said.

He commended the Comptroller-General of the Federal Fire Service, Olumode Samuel Adeyemi, for the achievements recorded under the existing legal framework, particularly the significant improvement in emergency response times.

In a statement by the Head of Press and Public Relations, Ministry of Interior, Mrs Mary Ali, the minister said the proposed legislation would provide the necessary legal foundation for improved performance and a more comprehensive fire and rescue service.

Tunji-Ojo also called for stronger fire inspections and enforcement of safety codes, supported by trained fire marshals in every district and community.

He advocated the integration of rescue techniques and basic life-saving skills into school curricula at all levels to equip Nigerians with the knowledge to respond effectively to emergencies.

He urged the Federal Fire Service to collaborate with educational institutions towards making basic life-saving skills and resuscitation techniques part of the country’s educational system.

On infrastructure development, the minister disclosed that the National Fire Academy, located on approximately 23 hectares of land in Sheda, Kwali Area Council of the Federal Capital Territory, was 85 per cent complete and expected to be ready by the end of the year.

He said the facility would have drill towers, classrooms, a library, a training centre, a health centre and hostel accommodation for more than 3,000 trainees at a time. It would also be powered by solar energy.

He added that the fire hydrant facility was expected to be completed by December, while the National Fire Academy would be commissioned upon completion.

The minister further disclosed that the Federal Government had cleared a backlog of more than 50,000 promotions across the paramilitary agencies under the Ministry of Interior, adding that promotions were now concluded before December each year.

According to him, the 2026 promotion exercise had been completed, while preparations for the 2027 exercise had commenced.

He also revealed that nearly 100,000 promotions had been effected within less than 10 years.

On recruitment, Tunji-Ojo said approximately 5,000 candidates were at the final stage of the latest exercise, undergoing drug testing, documentation and deployment processes.

He also announced that the number of Federal Fire Service commands had increased from six to 18, creating additional opportunities for career progression among personnel.

The minister confirmed that officers’ risk allowances and other allowances had also been approved.

He commended officers and men of the Federal Fire Service for their dedication and sacrifices in protecting lives and property, assuring them that the present administration recognised and appreciated their contributions to national safety and security.