Category: Business Day

The Lagos State Government has faulted comments made by former Labour Party presidential candidate, Peter Obi, over the demolition of structures at the Trade Fair Complex, insisting that the affected buildings had no valid approvals.

In a statement issued by Gbenga Omotoso, the commissioner for information and strategy, the government dismissed Obi’s remarks as ‘misinformation and disinformation.’

The commissioner accused Obi of attempting to ‘mislead the public by misinformation and disinformation’ after the former governor visited the complex and described the demolitions as ‘a test of impunity, justice and compassion.’ Omotoso insisted that the state’s Ministry of Physical Planning and Urban Development had followed due process.

‘The owners of the building have no approval. They got ample time to regularise their papers when the state government declared last year a general amnesty, which was extended several times. The owners shunned the offer,’ he said.

According to the commissioner, attempts by government officials to enforce planning laws at the complex were met with resistance. ‘When Physical Planning officials visited the complex, the gates were locked against them; they were beaten up. The police rescued them. When the government called the owners for talks, they said they would not come; they did not come,’ Omotoso noted.

He stressed that while the Trade Fair Management Board, a federal body, can administer leases and commercial activities within the complex, it lacks the legal authority to approve building projects.

‘The board. does not have powers to approve or regulate building developments within the complex independent of Lagos State Government,’ he said.

Citing the Nigerian Urban and Regional Planning Act (1992) and a 2003 Supreme Court judgment, the commissioner reaffirmed that states have the authority to regulate development control within their territories, including federal lands, except for core areas such as military formations.

Omotoso concluded by framing the issue as a choice between the rule of law and political grandstanding.

‘We must decide the kind of society we want, one governed by law or one run by emotions, fueled by political interests,’ he stated.

Governor Lucky Aiyedatiwa of Ondo State has commended President Bola Tinubu for his bold economic reforms, social re-engineering and massive infrastructural developments under the Renewed Hope agenda.

This is just as he reaffirmed his administration’s commitment to service, actions and visible results as Nigeria marked its 65th Independence anniversary.

Speaking at a celebration held at the Gani Fawehinmi Arcade, Akure, the governor joined millions of Nigerians in reflecting on the nation’s journey since 1960, describing independence as both a gift of self-rule and the dignity of identity.

According to him, despite challenges of civil strife, military rule and economic hardship, Nigeria has remained united and resilient, commending President Bola Ahmed Tinubu for his bold economic reforms across all sectors. Aiyedatiwa said, ‘As a country, we have come far. We have weathered through civil strife and military rule, and we stand tall as the largest democracy in Africa. We have made significant contributions to peacekeeping operations across the continent, proving that Nigeria is not only a giant in population but also in responsibility. Our economy, though faced with challenges, has produced world-renowned entrepreneurs, economists, scientists, artists and sportsmen who have carried the Nigerian flag to the ends of the earth. Above all, we have remained united, over 200 million people of different tongues, faiths and traditions, still bound together under one green and white flag.

‘Our country is blessed at a time like this to have a visionary leader like His Excellency Asiwaju Bola Ahmed Tinubu, GCFR, President and Commander in Chief of Armed Forces of Nigeria. We must continue to appreciate Mr President for his bold economic reforms, social re-engineering and massive infrastructural developments. Right now, indications are that, Nigeria is certainly making progress and on the path of glory under the Renewed Hope Initiatives of Mr President.’

Reviewing the strides of his government since assuming office on February 24, 2025, Aiyedatiwa reeled out achievements across key sectors, highlighting the ongoing dualisation of the Akungba-Ikare and Okitipupa-Igbokoda highways, the construction of walkways and jetties in riverine areas, and the approval of five kilometres of roads in each of the state’s 18 local government areas. ‘These would open up communities, ease transportation and bring development closer to the grassroots. Roads are not just pathways, they are lifelines that will boost commerce, agriculture, reduce travel stress and encourage economic activities and the daily life of our people.’ the governor said.

In the health sector, he noted the expansion of the State Contributory Health Scheme, commissioning of a pharma-grade warehouse for drug distribution, renovation of hospitals, revitalisation of primary healthcare centres and recruitment of more health workers.

‘Education has also witnessed steady improvements with rehabilitated classrooms, digital learning opportunities, scholarships and bursaries, and the continued operation of free shuttle buses and boats for students.’

The governor further disclosed that his administration has secured 26,000 hectares of land and earmarked ?7.5 billion for agricultural development, which he said will boost food security and create jobs. Aiyedatiwa listed other interventions, including the provision of 75 security vehicles fitted with modern gadgets, the construction of 32 executive council housing units, prompt payment of salaries and pensions, attention to gratuities, and prudent financial management that has reduced the state’s domestic debt profile.

‘Workers’ salaries and pensions are paid regularly and up to date. Recruitment into critical sectors is ongoing to keep our workforce vibrant and effective,’ he stressed.

President Bola Ahmed Tinubu has praised the Imo State governor, Hope Uzodinma’s impactful governance during the launch of Governor Uzodinma’s book, ‘A Decade of Impactful Progressive Governance in Nigeria’, held in Owerri, Imo State, on Tuesday, September 30, 2025.

President Tinubu commended Uzodinma for his initiatives on the three signature projects of his administration that were commissioned, which include a 52km Owerri-Mbaise-Umuahia road, the Assumpta Cathedral Twin Flyover and Emmanuel Iwuanyanwu International Conference Centre and above all, for authoring a book that chronicles the achievements of the party in the past 10 years.

‘With this book, Governor Uzodinma has given Nigeria a gift. No nation will forget its own journey and no leader will forget the beauty of stewardship,’ he stated.

President Tinubu expressed optimism about Nigeria’s future, pointing out that the nation has recorded great improvement since the leadership of the APC. ‘Nigeria is no longer where it was 10 years ago,’ he noted.

He recalled that APC as a Party began the work of stabilising the economy under the leadership of former President Muhammadu Buhari (late), stating that since then, the country has continued to move for the better. Tinubu said that his administration has in the second quarter of 2025, grown the Nigerian economy by 4.23% with the inflation rate falling to 20.12% in 2025, indicating a relief to the people.

He therefore appealed to Nigerians to remain patient, resilient and assured that the nation is changing for the better with the external reserve standing at 42.03%, the highest since 2019.

In his remarks, the Senate President, Godswill Akpabio, commended Governor Uzodinma for transforming Imo State with critical infrastructure, conveying his admiration for the governor’s efforts in putting together a book that chronicles the APC’s achievements and generally, for his vision for Imo State.

Governor Uzodinma, in his address at the book launch, reflected on Nigeria’s journey under the APC from 2015 to 2025, highlighting milestones, challenges, and lessons learned, and emphasised that the book is not just a personal achievement but belongs to the APC family and the Nigerian people.

Governor Uzodinma stated that the book is a product of deep reflection and explained ‘progressivism’ in the Nigerian context, focusing on community solidarity, inclusion, and service.

He praised President Tinubu’s visionary leadership and role in forming the APC, and commended the President for economic progress, especially for recording trade surpluses for six consecutive quarters, with non-oil exports contributing significantly.

Peter Obi, Labour Party (LP) candidate in the 2023 general election, has urged governments at all levels to act with compassion, fairness, and a deep sense of justice when dealing with issues affecting the people, especially at this difficult time.

Obi stated this on Wednesday after visiting the Lagos International Trade Fair site that was recently affected by demolition in Lagos

Obi, writing on his X handle, noted that many of the affected traders invested heavily – often through loans – in the hope of securing their livelihoods and contributing to the wider economy.

‘To destroy such legitimate investments without due process is not only unjust but also economically destructive.

‘Today, alongside Senators Enyinnaya Abaribe, Victor Umeh, Col. Austin Akobundu, Tony Nwoye, Honourable Members of the House of Representatives, Segun Sowonmi, George Adegeye, Labour Party Lagos State Gubernatorial candidate, Gbadebo Rhodes-Vivour and coordinator of the Obidient Movement Tanko Yunusa, we visited the site of the demolished ASPAMDA Market at the Trade Fair in Lagos, where plazas were pulled down despite traders having obtained the requisite approvals.’ He commended the traders for their remarkable restraint and calm in the face of such painful loss.

This is as he equally commended the senators and the House of Representatives members who pledged to investigate this matter thoroughly and bring to light the circumstances that led to the development, and most importantly, ensure that the situation does not occur in the future.

Obi noted that ‘a society that seeks to make progress must protect enterprise, encourage productivity, and defend the dignity of its citizens.’

According to him, ‘Incidents like this should have no place in a nation that aspires to fairness, stability, and shared prosperity.’

Borno State Governor Babagana Zulum acknowledged the challenges the country has faced over the past six and a half decades, but emphasised that Nigeria has consistently emerged stronger. He called for continued unity, mutual understanding, and peaceful coexistence amongst its citizens.

Zulum congratulated President Bola Ahmed Tinubu and other Nigerians on Wednesday on the occasion of Nigeria’s 65th Independence Day Celebration.

The Governor commended President Bola Ahmed Tinubu for his leadership and continued support to the armed forces and other security agencies involved in counter-insurgency operations in the North East, particularly in Borno State. Zulum, in a statement he personally signed, also expressed commitment to providing peace and development to Borno, stating, ‘We will not rest. We will not be complacent. We will continue to work, strive more, and fight for a Borno where everyone can dream of a better life, every farmer can till their land, our industries can thrive, and every family can sleep in peace.’

Governor Zulum’s full statement below:

‘As we join our brothers and sisters across the country to mark the 65th anniversary of our independence. We celebrate the Nigerian nation’s freedom, unity, and resilience. But on this day, our reflections in Borno are particularly profound. Our journey has been uniquely tested, yet our hope remains unbroken.’

‘It is indeed worth celebrating 65 years of nationhood as an indivisible nation. Despite the threats of insecurity, such as Boko Haram, ISWAP, and other criminal elements, our gallant military officers and security forces are winning the battle. We must unite as a people to fight the common enemy.’

‘We remember with solemn gratitude the sacrifices of our gallant men and women in uniform, the military, the police, the Civilian JTF, and all security agencies who have paid the ultimate price to keep us safe. We honour the memory of our sons and daughters, fathers and mothers, who were lost to the insurgency.’

‘ Let me use this opportunity to commend President Bola Ahmed Tinubu for his leadership and continued support to the armed forces and other security agencies involved in counter-insurgency operations in the North East, particularly in Borno State.

‘Our primary and most sacred duty has been the restoration of peace and security. We adopted a multi-faceted approach, understanding that a purely kinetic solution is not enough.’

‘We have consistently and directly supported our security forces. From providing hundreds of operational vehicles, armoured personnel carriers, and sophisticated communication and other operational gadgets to consistently visiting difficult frontline locations, so that we ensure that our troops are motivated and better equipped to face the enemy. We have built and renovated accommodations for our security operatives, among many other supports.’

‘Peace cannot be complete without restoration. Therefore, we have undertaken the most ambitious resettlement programme in Nigeria. We have successfully closed all the official internally displaced persons (IDP) camps within Maiduguri Metropolitan Council, moving our people from a state of dependency to dignity and self-reliance.’

‘We have supported the safe and voluntary return of a significant number of our displaced population to their ancestral homes by providing them with livelihood packages. We have constructed thousands of resettlement houses across local government areas, providing shelter for returnees.’ ‘We have rebuilt critical infrastructure, including hundreds of healthcare centres, primary and secondary schools, ensuring that our children can learn and our sick can be treated in their communities.’

‘Dear Citizens of Borno, our vision extends beyond survival to prosperity. We are laying the foundation for a post-insurgency economy.

‘Our administration’s peacebuilding and recovery efforts are greatly succeeding. The integrated policies, designed to address the root causes of insurgency, build community resilience, and promote reconciliation, have been fruitful.

Trade and Commerce as a cornerstone, we have reestablished and upgraded to an international standard our cattle markets in Gamboru Nagal, Banki and the one in Kasuwan Shanu in Jere Local Government Area.’ ‘We are pursuing the establishment of the African Inter-Continental Free Trade Zone in Banki and a Dry Inland Port in Maiduguri. We have invested a lot of resources to support the federal government’s initiative of international operations at Muhammadu Buhari Airport. These, among other strategic plans we have drawn, will significantly boost the economy of our state and create several employment opportunities.’

‘Through our various empowerment schemes, we have provided startup capital, tools, and training to tens of thousands of our youths and women, turning them from victims into entrepreneurs and employers of labour.’

We have constructed and equipped modern and specialised hospitals, two nursing colleges, and recruited hundreds of healthcare professionals to bring quality medical services to our people. Our world-class Kashim Ibrahim University Teaching Hospital will soon be activated.’

‘We have invested hugely in the education sector, recruited over 4,000 teachers and renovated schools across the state. Our scholarship programmes have sent thousands of Borno indigenes to universities at home and abroad, investing in the human capital that will drive our future.’

‘In the agricultural sector, we have distributed thousands of tonnes of fertiliser, improved seeds, and agricultural machinery to our farmers. We have revived some sections of the South Chad Irrigation Project, enabling the cultivation of thousands of hectares of land and moving us towards food sufficiency.’

‘My dear people, the journey is not over. Challenges remain. We still face the threat of remnant terrorists. But there is a gradual return to peace in Borno. Many of our communities have reestablished themselves, our markets are bustling, and our farms are again yielding bountiful harvests.’

‘On this Independence Day, let us draw strength from our collective resilience. Let us renew our commitment to unity, peace, and the progress of Borno State within a prosperous Nigeria.’

Telecommunications giant Globacom has reaffirmed its commitment to Nigeria’s cultural heritage by renewing its sponsorship of the 2025 Ofala Festival, a vibrant celebration led by Igwe Nnaemeka Achebe, the Obi of Onitsha.

The announcement, made during a press briefing at the Obi’s Palace in Onitsha, underscores the festival’s pivotal role in driving Nigeria’s projected N11.2 trillion tourism sector contribution to GDP in 2025.The Ofala Festival, scheduled for October 17-18, 2025, will feature the Iru Ofala and Azu Ofala, alongside events like the Oreze Art Exhibition, a youth carnival, a medical outreach, and a royal banquet.

Globacom, the festival’s principal sponsor since 2011, emphasized that its support is rooted in the belief that cultural celebrations like Ofala are vital to Nigeria’s economy, identity, and global presence. ‘Nigeria’s tourism sector is expected to contribute N11.2 trillion to GDP in 2025, up from N10.9 trillion in 2024, with domestic tourism expenditure reaching N6.1 trillion and international visitor spending at N803.2 billion. These figures highlight the economic power of culture and tourism. Our investment in Ofala is about building communities, creating jobs, and fostering pride,’ Globacom stated.

The Federal Capital Territory (FCT) Police Command has confirmed that Somtochukwu Maduagwu, a correspondent with Arise News jumped from the third floor of her Katampe apartment during an armed robbery attack on Monday, September 29.

Ajao Adewale, Police Commissioner, disclosed the details on Wednesday during a live appearance on Arise Television, where he described the incident as ‘tragic and very unfortunate.’

According to eyewitnesses and vigilantes within the compound, Maduagwu jumped from the third storey of the three-floor residential building, identified as Unique Apartments, while trying to escape the attackers.

‘She landed on the concrete pavement and was found unconscious in critical condition before being rushed to Maitama General Hospital.

Confirming the events that led to her tragic death, Adewale said police officers arrived at the scene to find the journalist unconscious.

‘Policemen moved to the scene and found her lying unconscious. She was immediately taken to Maitama General Hospital, where doctors tried to resuscitate her using CPR, but sadly, she could not make it,’ he said.

The police commissioner explained that the armed robbers had gained access to the apartment complex, a twin three-storey building with 18 flats located around the Gishiri axis of Katampe, under the Mabushi Division. Two private security guards were on duty at the time of the attack. One of them reportedly attempted to resist the robbers but sustained a gunshot injury in the process.

‘In the panic that followed, Sommie, who lived on the topmost floor of the building, jumped down from the third storey. The consequences were tragic and very unfortunate,’ Adewale said.

He further revealed that a special investigation team, led by the Deputy Commissioner of Police (Investigation), had been constituted to track down the perpetrators.

‘We have set up a specific investigation team headed by the Deputy Commissioner of Police, Investigation, with all tactical units involved to track down the culprits.

‘The leads we are getting are already being worked on, and no stone will be left unturned until the perpetrators are brought to justice,’ he assured.

The commissioner extended condolences on behalf of the command to Maduagwu’s family, her colleagues at Arise News, and Nigerians who have been deeply shaken by the incident.

‘The FCT Command once again commiserates with the family of Sommie, the Arise News family, and Nigerians deeply touched by this ugly and disturbing incident,’ Adewale said.

The naira appreciated significantly in the official foreign exchange (FX) market in September, recording a N50.75 gain against the dollar.

At the close of trading on Tuesday, the naira strengthened to N1,475.34 per dollar, a 3.3 percent gain from N1,526.09/$ at the start of the month, according to data from the Central Bank of Nigeria (CBN).

On a day-to-day basis, the local currency also appreciated slightly by 0.07 percent or N1.00, up from N1,476.34/$ on Monday at the Nigerian Foreign Exchange Market (NFEM), CBN data showed.

In the parallel market, commonly referred to as the black market, the naira gained 3 percent over the month, closing at N1,495 on Tuesday compared to N1,540 at the beginning of September.

Nigeria’s external reserves also rose, reaching $42.32 billion as of September 29, 2025, an increase of 2.17 percent from $41.42 billion at the start of the month.

Bala Moh’d Bello, a member of the Monetary Policy Committee (MPC), stated that the naira’s relative stability reflects the impact of tighter liquidity, growing investor confidence, and recent reforms in FX management. He added that speculative activity in the FX market has declined significantly, enhancing transparency and supporting market-based price discovery. According to him, this stability is expected to continue in the medium term, underpinned by rising reserves, which stood at $40.11 billion as of July 18, 2025, enough to cover about 9.5 months of imports.

Another MPC member, Aloysius Uche Ordu, said the naira’s appreciation and the narrowing gap between official and Bureau de Change (BDC) rates highlight improved FX liquidity. He credited strong remittances and foreign portfolio inflows for the boost in reserves, also noted at $40.11 billion in July.

The CBN’s latest quarterly economic report showed total FX inflows rose by 4 percent quarter-on-quarter (q/q) and 26 percent year-on-year (y/y) to $29 billion in Q1 2025. This continues a trend seen since Q4 2023, mainly driven by the CBN’s tight monetary stance.

However, FX outflows climbed at a faster pace, rising 14 percent q/q and 33 percent y/y to $13.8 billion, marking the highest quarterly outflow since Q2 2020. As a result, net FX flows stood at $15.2 billion in Q1 2025, slightly down from $15.8 billion in Q4 2024.

Analysts at FBNQuest noted that robust FX inflows in Q1 2025 were primarily fueled by autonomous sources, which surged to $20.7 billion from $16.3 billion in Q4 2024, the highest since the COVID-19 pandemic, though still below the $27.5 billion recorded in Q1 2020.

They attributed the increase to higher market interest rates that spurred carry trade flows, along with CBN’s FX reforms that improved transparency and price discovery. Although the CBN does not disclose a detailed breakdown, FMDQ data used as a proxy showed foreign portfolio investment (FPI) inflows rose 40 percent q/q and 101 percent y/y to $4.9 billion.

The federal government has successfully brokered an agreement between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the management of Dangote Petroleum Refinery, leading to a decision to call off the association’s strike action and redeploy disengaged workers of the refinery.

The reconciliatory meetings at the instance of the Minister of Labour and Employment, Muhammad Dingyadi, had become necessary following the PENGASSAN’s directive to members to stop gas supply to Dangote Petroleum Refinery and withdrawal their services over what was described as the unlawful termination of over 800 of its members by the refinery’s management.

As contained in communique signed by all parties at the end of the meeting, Dingyadi informed the meeting that unionisation was a right of workers in accordance with the laws of Nigeria and that this right should be respected.

The communique stated that after examining the procedure used in the disengagement of workers, the meeting agreed that the management of Dangote Group shall immediately start the process of taking the disengaged staff to other companies within the Dangote Group, with no loss of pay.

‘Whereas the leadership of PENGASSAN said that the directives given to stop the supply of gas to Dangote Petroleum and withdrawal of services was in response to the termination of appointment of over Eight Hundred members of PENGASSAN by the management of the Dangote Refinery and Petrochemical Limited, the management of Dangote Refinery and Petrochemical on the other hand, explained the reason for disengagement of the workers was as a result of the ongoing reorganization in the company. ‘No worker will be victimised arising from their role in the impasse between Dangote and PENGASSAN.

‘PENGASSAN agreed to start the process of calling off the strike. Both parties agreed to this understanding in good faith,’ it stated.

The conciliation was attended by high-ranking officials of government, including the National Security Adviser; Minister of Finance and Coordinating Minister of the Economy; Minister of Budget and Economic Planning; Minister of State for Labour and Employment; Director-General of the Department of State Services (DSS); Director-General of the National Intelligence Agency (NIA); Permanent Secretary of the Ministry of Petroleum Resources, representing the Minister of State for Petroleum Resources (Gas); as well as the Permanent Secretary of the Federal Ministry of Labour and Employment.

Also present were the chief executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), alongside representatives of the Nigerian National Petroleum Company Limited (NNPCL), the leadership of the Trade Union Congress (TUC), and the President and Secretary-General of PENGASSAN.

The city is buzzing with anticipation as Lagos Talks 91.3 FM announces ‘Conversations on Boards,’ a groundbreaking event set to bring some of Nigeria’s most influential personalities together for a series of high-stakes board game duels. The event, slated for October 2nd at the Muson Centre, is an effort aimed at showcasing a different side of prominent public figures as they engage in fierce but friendly competition.

The star-studded lineup promises an electrifying atmosphere, with each game offering a unique clash of strategy and wit.

One of the most anticipated matchups is the checkers contest between two prominent political figures, Gbadebo Rhodes-Vivour, a visionary known for his architectural and political ambitions and Mobolaji Ogunlende, the determined Commissioner for Youth and Social Development. This duel goes beyond simple moves on a board; it’s a symbolic clash of political vision versus grassroots energy, a strategic contest for every square.

In a match that merges the worlds of football and media, former Super Eagles midfielder and sports icon Mutiu Adepoju, ‘the Headmaster,’ will go head-to-head with legendary sports broadcaster Charles Anazodo in a game of Whot cards. This is a battle where on-field genius meets on-air expertise, promising a test of nerve and quick thinking as these two legends vie for victory.

Laughter will be the main event in the Ludo showdown featuring two comedic giants, Acapella and Seyi Law. This match is set to be a spectacle of witty banter, hilarious jabs, and pure entertainment, proving that even in competition, the best of Nigerian comedy shines through.

‘Conversations on Boards’ is an innovative platform designed to provide a fresh perspective on these celebrated Nigerians. It’s a chance for the public to witness these leaders and icons in a relaxed, competitive environment, sparking meaningful dialogue and celebrating the art of conversation.

The General Manager, Deji Awokoya posits that ‘Lagos Talks 91.3fm has been at the forefront of innovation in talk station. In spite of the reality that many Nigerians are suffering from news fatigue, it is important that we present the news to the Nigerian people in a manner that is attractive to them.’

Chris Ubosi, Group Managing Director of Megalectrics Limited is excited that Lagos Talks is once again charting the course in innovative citizens engagement. He says, ‘we understand that Nigerians need to be informed about events happening in the country though often times, you hear a lot of complaints on our airwaves.

At Lagos Talks, we are committed to rebuilding the interest of the average Nigerian in governance by creating platforms such as this that allow for interaction between the people and the leaders.

It is also important to us that we remind the people that in spite of our political differences, we need to be friends to move the nation forward and our politicians do understand this. That is why we have Gbadebo Rhodes-Vivour and Mobolaji Ogunlende, Commissioner for Youth and Social Development, two people with different ideologies play a game together.

The event is free but to secure a spot at this exclusive event, interested attendees are required to register by sending their name, age, location, profession, and phone number to [email protected].

The event, which begins at 2 pm, is a must-attend for anyone eager to see their favorite public figures in a thrilling and unexpected light.

This event is put together in celebration of Lagos Talks 91.3fm’s 9th anniversary and commemoration of Nigeria’s independence.