Category: Daily Trust

Nigeria’s economic landscape is marked by uncertainty, as the country navigates a complex web of global trends, domestic challenges, and reform efforts. Despite recent strides in stabilising the economy, the International Monetary Fund (IMF) warns that risks remain tilted to the downside. The government’s target, at least in the short run, must be to use its homegrown reforms to beat the global challenge of uncertainty while pursuing its growth objective.

Nigeria’s economic growth is poised for a modest expansion, with projections indicating a 3.4% growth rate in 2025, driven by higher crude oil production and stronger performance in key sectors like finance, manufacturing, ICT, construction, and real estate.

Nigeria is currently enjoying its reform momentum. The government has implemented significant reforms, including fuel subsidy removal and FX market liberalisation, both of which are designed to boost growth and attract investments. The government has also streamlined its fiscal activities, by ending an obnoxious flow of funds through the Ways and Means of the central bank into the fiscal space leading to a bloated government spending.

To its credit, the new administration has boldly unified the multiple exchange rates that characterized the nation’s foreign exchange market. Since then, the naira has experienced a high degree of stability, with the difference between the official and black-market rates significantly reduced.

The latest IMF/World Bank meetings in Washington, D.C., ended with emphasis on uncertainty, growth and resilience. There is a threat of uncertainty overshadowing the global economy. ‘More than half of the slowdown in [medium-term] growth is because of the slowdown in productivity growth,’ said IMF Managing Director, Kristalina Georgieva at one of the seminars held during the meeting.

It is within this context that Nigeria will seek to drive its growth prospects. The economy will demonstrate resilience in order to experience growth. Both themes will therefore reflect the quality of policies that the government will employ in an effort to provide a counterweight to the global uncertainty. Global uncertainties have produced or been joined by their local equivalents to create greater challenges for the local domestic economy. Among the local issues to be handled are inflation and food insecurity that could lower the country’s ability to meet the food requirements of the populace.

Nigeria must focus on the appropriate growth levers that can drive the process of increased production of goods and services. These must be sectors or industries with the potential to create jobs and employ more Nigerians in well-defined, value-creating jobs. Since these kinds of jobs are best created by the private sector, the starting point therefore should involve an acceleration of the diversification drive – to move the economy away from heavy dependence on oil.

In absolute terms, this does not imply reducing the level of oil production, increasing the non-oil economy in such a way that relatively, the share of oil in the total value created in the economy will become lower, without actually reducing its absolute value.

Linked to the above points is private-sector investment. There cannot be meaningful economic growth in an economy with a stunted private sector. The government must therefore employ a policy framework that stimulates domestic industrial production by ‘crowding in’ the private sector. A combination of favourable monetary and fiscal policies will be needed to ensure that the industrial sector is strong enough to engage in productive activities and experience growth. Nigeria has in the past two years operated an environment that crowded out the private sector through a high-interest rate regime. Crowding the private sector is certain to result in negative growth.

That itself was a derivative of the authorities’ drive to curb a policy-induced inflationary pressure via a contractionary monetary policy. While that policy is being celebrated for the stabilising impact, this should not be overstretched without the risk of collateral damage. It is imperative therefore that subsequently, curbing inflation and maintaining currency stability demands a disciplined monetary stance.

On government spending, the tax administration starting from January 2027 presents an opportunity to further enhance non-oil revenue generation and expand the fiscal space. With this, the government should be in a position to harmonise the intersection between fiscal and monetary policies thus eliminating or minimizing the unharmonious relationship between the two that we have witnessed in recent years.

The remaining part of the year and going into the new year must be devoted to further consolidation of the gains made so far. This phase is critical to further lay the foundation for the achievement or moving towards the mark of the one-trillion-dollar economy mark. This explains why the government must keep watch over these three words: growth, resilience, and uncertainty. All three define the challenge we face going forward. The first two will play key roles in the government’s efforts to confront the third one.

The Academic Staff Union of Universities (ASUU) says it suspended its two-week nationwide warning strike to acknowledge the intervention of key stakeholders and to allow the Federal Government time to meet its outstanding commitments to the union.

ASUU President, Prof. Chris Piwuna, disclosed this on Wednesday in Abuja while briefing journalists on the outcome of the union’s National Executive Council (NEC) meeting, which ended in the early hours of the day.

Piwuna explained that the suspension followed what the union described as ‘useful and encouraging engagements’ with government officials, particularly after the intervention of the National Assembly leadership.

He said the union decided to give the Federal Government a one-month window to conclude the renegotiation of the 2009 FGN/ASUU Agreement and address other unresolved issues affecting public universities.

According to him, ‘We’ve had useful engagements with representatives of the government to consider the response to the draft renegotiation of the 2009 agreements. We are definitely not where we were prior to the commencement of the strike.

‘The union acknowledges that government has returned to the negotiation table. While noting that a lot more work still needs to be done, NEC came to the conclusion that the ongoing strike be reviewed.

‘The decision to suspend the warning strike was also in appreciation of the efforts of our students, parents, the Nigeria Labour Congress (NLC), and other well-meaning Nigerians who intervened in the matter.’

ASUU had on October 13, 2025, declared a total and comprehensive warning strike to press home its demands.

The union’s demands include the conclusion of the renegotiated 2009 FGN-ASUU agreement, release of withheld three and a half months’ salaries, sustainable funding of public universities, revitalisation of public institutions, and an end to the alleged victimisation of lecturers in Lagos State University (LASU), Prince Abubakar Audu University, and the Federal University of Technology, Owerri (FUTO).

Other demands are the payment of outstanding 25-35% salary arrears, settlement of over four years of promotion arrears, and the release of withheld third-party deductions such as cooperative contributions.

Piwuna stressed that the decision to suspend the strike was not an end in itself but a demonstration of goodwill.

‘We have decided to give the government this window to show sincerity and commitment to resolving all outstanding issues. We expect concrete results within the next one month,’ he said.

He added that ASUU remains committed to defending the integrity of the nation’s public universities and will not hesitate to resume industrial action if the government fails to act within the agreed timeframe.

A Kano State High Court has ordered the remand of one Murtala Ado, a resident of Jemagu Quarters, for allegedly stabbing his sister’s lover to death.

The prosecution counsel, Barrister Fatima Yusuf Mohammed, arraigned the defendant on a charge of murder, contrary to Section 221 of the Penal Code.

According to the prosecution, the deceased, identified as Ado Muhammad, had visited the accused’s residence to deliver a message from a friend requesting the phone number of the accused’s sister.

However, upon returning home and finding the deceased there, Murtala allegedly attacked him, stabbing him in the stomach. The victim later died from the injuries sustained. Presiding judge, Justice Sanusi Usman Atana, ordered that the accused be remanded in a correctional facility and adjourned the case to November 12, for further hearing.

The recent press statement issued by the All-Progressives Congress (APC), titled ‘APC Should Learn from History – A Sordid Display of Editorial Bias’, reads more like a reflexive political outburst than a reasoned response. It attempts to deflect attention from the deeper concerns raised by the Daily Trust editorial regarding the continued, unchecked wave of defections by governors and elected officials into the ruling party. Contrary to APC’s accusations, Daily Trust was not partisan. It simply did what a responsible newspaper should do in a fragile democracy: call attention to a trend that poses grave implications for multiparty politics and the long-term health of democratic accountability in Nigeria.

The APC press statement enthusiastically defends the right of governors and other political figures to defect from one party to another, citing freedom of association under the Constitution. That argument, while legally convenient, evades the more substantive question: What happens to the mandate given by the electorate to a candidate under one political party when that person crosses to another party mid-term? Does that mandate automatically follow the individual, or should the electorate have a say in whether they still endorse that candidate under a new platform? These are not merely academic questions – they strike at the heart of democratic representation.

APC’s claim that these defections are a routine exercise of constitutional liberty ignores the very real structural consequences. In many cases, defections are not isolated or ideological; governors switch parties en masse, often bringing along state legislators who were elected on entirely different platforms. These lawmakers, who are explicitly covered by the anti-defection provisions in Sections 68(1)(g) and 109(1)(g) of the Constitution, are rarely held accountable. Instead, they invoke the ‘split in the party’ excuse – a well-worn legal loophole – to justify remaining in office. This cynical manipulation of a constitutional safeguard is not only dishonest; it undermines public trust and neuters the principle of representative government.

Worse still, this coordinated defection strategy often results in an immediate collapse of opposition structures within states. One moment, a state has a functioning opposition party in both the executive and legislative arms; the next, all key figures have decamped to the ruling party – without returning to the electorate for validation. Such mass defections severely distort the balance of power and tilt the political field in favour of the ruling party, not through persuasion or performance, but by political horse-trading and backroom deals. That is not democratic competition; it is elite consolidation. The case of former Rivers State Governor, Chibuike Rotimi Amaechi, remains instructive. In Amaechi v. INEC (2007), the Supreme Court of Nigeria ruled that it was the party, not the individual, that won the governorship election. This judgment affirmed that political parties are central to Nigeria’s electoral system – not independent candidacies. Amaechi, who had been substituted by the PDP unlawfully, was restored by the court without contesting the election, because the court held that the party carried the mandate.

Ironically, after benefiting from that judicial reasoning, Amaechi himself defected from the PDP to the APC while in office, and remained governor. This legal and moral inconsistency underscores a key point: while the Constitution is silent on defection by executive office holders, the principle that voters elect a platform, not just a personality, is well established. The continued silence of the law on this issue is a gaping hole in our constitutional architecture – and one that political actors continue to exploit with impunity.

Imo State provides a more recent and equally troubling example. From former Governor Rochas Okorocha, who traversed PDP, APGA, and APC, to the current administration, Imo has become a laboratory of fluid partisan identity and elite-driven politics. Governors do not just switch parties for ideological reasons; they often do so as a matter of political convenience, especially when they sense shifting winds at the federal level. More troublingly, state assemblies follow suit, often defecting in unison, raising questions about the independence of the legislature and the sanctity of electoral mandates. These waves of defections are not spontaneous; they are choreographed, and designed to reduce political competition to a footnote.

The APC statement dismisses the idea that these patterns threaten Nigeria’s multi party system. But this denial flies in the face of observable reality. In the past few years, we have seen sitting governors – elected under the PDP – switch allegiance mid-term to the APC: David Umahi of Ebonyi, Ben Ayade of Cross River, Bello Matawalle of Zamfara, among others. Each of these defections came with a domino effect that left the opposition in those states crippled. No referenda. No new elections. Just a fait accompli. And with no consequences for defecting legislators, the legislative branches of those states have become appendages of the new ruling party, almost overnight.

Defections are not in themselves antithetical to democracy. But when they become a systematic tool for dismantling opposition, circumventing the electorate, and evading accountability, they mutate into a threat. It is therefore disingenuous for APC to argue that defections into its ranks are a natural expression of democratic choice, while ignoring the long-term effect of these defections on electoral integrity, institutional trust, and democratic contestation.

Moreover, APC’s suggestion that defections from APC to opposition parties are somehow healthier for democracy, while defections into APC are being unfairly maligned, is a shallow and one-sided framing. It fails to recognize that the ruling party benefits uniquely from the advantages of incumbency, including federal influence, access to state resources, and security apparatus. Defections to a ruling party are rarely neutral. They often represent a convergence of ambition and pressure – a political survival strategy, not a democratic renewal.

Defending these defections as merely constitutional is to confuse legality with legitimacy. The survival of democracy depends not only on laws but on norms, values, and accountability. The law may permit a governor to cross carpets. But morality – and respect for the electorate – demands that such a governor returns to the people for a fresh mandate. Anything less is a betrayal of trust.

What Nigeria needs today is a bold legal reform that closes the loophole on defections. The National Assembly must revisit the Constitution to ensure that executive office holders – governors, deputy governors, presidents, and vice presidents – are held to the same standards as legislators when they defect mid-term. Similarly, the vague ‘division in the party’ clause must be removed or narrowed to prevent its abuse. Without these changes, the anti-defection provisions of our Constitution will remain impotent, and defections will continue to erode the foundations of our democracy.

The editors of Daily Trust have not acted irresponsibly. They have sounded a necessary alarm. They have done what press freedom demands: to speak truth to power, especially when democratic institutions are being undermined under the guise of legality. The APC’s attempt to paint such editorial courage as bias is not only unwarranted, but a dangerous affront to press freedom and democratic debate.

In the final analysis, defending defections without consequence is not defending democracy. It is defending impunity. And until we summon the courage to address this systemic weakness, Nigeria’s democracy will remain vulnerable – not from a lack of elections, but from the absence of electoral fidelity and democratic accountability.

The Kwara State Government has approved N8.1 billion for the payment of gratuities to retired state and local government workers.

The Commissioner for Finance, Dr Hawa Nuhu, disclosed this on Tuesday during the third quarter inter-ministerial briefing held in Ilorin.

She said N5.6 billion would go to retired state workers, while N2.5 billion was set aside for local government retirees.

Nuhu explained that the government would continue to offset pension and gratuity arrears gradually to ensure that other developmental projects are not stalled.

According to her, the gratuity burden had risen sharply following the implementation of the N30,000 and N70,000 minimum wages and their consequential adjustments for retirees.

‘The government is not owing any local government retiree except those who failed to take part in the verification exercise conducted in the sixteen councils. Those still complaining need to come forward, complete the process and collect their money’, she said.

The commissioner revealed that the state’s monthly internally generated revenue now stands at N15.7 billion, while the domestic debt profile is N57 billion.

Nuhu dismissed speculations about new taxes, clarifying that no fresh levies will be introduced in 2026.

She said both the federal and state governments are only streamlining existing taxes, which will take effect from January 2026.

The Commissioner for Transport, Lafia Aliyu Kora Sabi, said the ministry had strengthened transport safety through the introduction of colour codes for commercial vehicles to enhance identification and commuter protection.

He added that 1,000 life jackets received from the Federal Ministry of Marine and Blue Economy had been distributed to riverine communities in Baruten, Edu, Moro, Kaiama and Patigi Local Government Areas to boost water safety.

Also speaking, the Commissioner for Social Welfare and Development, Dr Mariam Imam Nnafatima, said more than 200 street beggars evacuated from Ilorin had been repatriated to their home states.

She said the state was renovating the rehabilitation centre at Amayo and the Elders’ Home to make them functional.

Nnafatima added that the ministry was working with the National Drug Law Enforcement Agency to intensify the campaign against drug abuse in the state.

The Bauchi State Police Command has arrested a 17-year-old boy, Auwalu Muhammad, for allegedly plucking out his younger sister’s eyes for a money ritual in Wailo town, Ganjuwa Local Government Area of the state.

The incident, which occurred on October 17, left the victim, Rukayya Muhammad, permanently blind.

The Command’s Public Relations Officer, CSP Ahmed Wakil, confirmed the development in a statement, describing the act as ‘heinous and inhuman.’

According to him, police investigations revealed that the suspect lured his sister into a nearby bush, where he attacked her and forcefully removed both eyes in a desperate attempt to gain wealth.

‘Unfortunately, a medical doctor (eye specialist) at the hospital confirmed that the young girl will never regain her vision for the rest of her life,’ Wakil said.

He added that the suspect voluntarily confessed to the crime during interrogation, and that investigations were ongoing to uncover the full motive and identify any accomplices involved.

Wakil also disclosed that several other suspects had been arrested in connection with the incident. They include Auwal Dahiru (17) of Bayan Dutse, Wailo; Mohammed Rabiu (19); Saleh Ibrahim (20); Nasiru Muhammad, Hassan Garba, and Garba Dahiru (43), all of Soro town in Ganjuwa LGA.

‘All the suspects are currently in custody, and the investigation is ongoing to ensure that justice is served,’ the police spokesperson said.

The Senate on Tuesday resolved to investigate how the Economic and Financial Crimes Commission (EFCC) has been deducting 2 percent from recovered loot without prior legislative approval.

This decision followed a motion sponsored by Senator Emmanuel Memga Udende (APC, Benue North East) on the urgent need to commend the EFCC for its remarkable achievements in recent times despite operational challenges.

Presenting the motion, Udende disclosed that in 2024 alone, the EFCC received 15,724 petitions, opened and investigated 10,928 cases, filed 5,081 cases in court, secured 4,111 convictions, and recovered billions of naira, thereby boosting the nation’s revenue base.

However, during deliberation, Senator Saliu Mustapha (APC, Kwara Central) raised concerns over the 2 percent deductions made by the EFCC, questioning whether the commission had obtained legislative authorisation for such withdrawals. In response, Senator Udende explained that the law mandates the president to approve the 2 percent and forward it to the National Assembly for ratification.

‘I’ve observed that since the beginning of this Senate, that has not been done, but we are following it up,’ he added.

Senate President Godswill Akpabio, who presided over the session, emphasised the need to ascertain whether the EFCC had ever sought presidential approval for the deductions.

Akpabio directed that relevant committees should obtain the specific legal provisions governing the deductions and verify whether the EFCC had applied to the President for such spending.

The Senate thereafter mandated its relevant committees to intensify oversight and provide legislative support to strengthen the EFCC and other anti-corruption agencies in promoting accountability, transparency, and public trust.

The Academic Staff Union of Universities (ASUU) has suspended its two-week warning strike.

The National President of ASUU, Prof. Chris Piwuna, made this known at a press briefing in Abuja on Wednesday.

He said the suspension takes effect from midnight of Wednesday, October 22, 2025.

However, Piwuna warned that the union would not hesitate to resume the strike if the government failed to meet its demands within the next four weeks.

ASUU’s position aligns with that of the Nigeria Labour Congress (NLC), which earlier threatened to join forces with the union.

At a meeting with ASUU and NLC, on Monday, Labour issued a 4-week ultimatum to the federal government to resolve all issues it has with the union and all other tertiary institution-based unions.

It threatened that should the federal government fail to conclude negotiations with all tertiary institution-based unions within the stipulated time, it would not hesitate to take drastic actions by activating all the necessary instruments.

‘We have decided to give the federal government four weeks to conclude all negotiations in this sector. They have started talks with ASUU but the problem in this sector goes beyond ASUU.’

‘That is why we are extending this to four weeks. If after four weeks this negotiation is not concluded, the organs of the NEC will meet and take a nationwide action that all workers in the country, all unions in the country will be involved so that we get to the root of all this.

‘The era of signing agreements, negotiations and threatening the unions involved, that era has come to an end,’ Joe Ajaero, NLC President, had said.

Daily Trust reports that the interactive session was held after the conclusion of a meeting between the NLC and leaders of tertiary institution-based unions including ASUU, SSANU, NASU and NAAT.

On October 13, 2025, Prof. Piwuna had declared a two-week ‘total and comprehensive’ strike after the expiration of a 14-day ultimatum issued to the government.

The union premised its decision to shut down universities for two weeks upon unresolved issues relating to staff welfare, infrastructure, salary arrears, and the implementation of the 2009 ASUU-FGN agreement.

However, the Minister of Education, Tunji Alausa, said the union shouldn’t have gone on any strike because talks had reached a final phase, and that the government had released N50bn for earned academic allowances and allocated N150bn in the 2025 budget for a needs assessment to be disbursed in three installments.

Subsequently, the minister directed the enforcement of ‘No work, no pay policy’.

Crypto momentum is accelerating as top projects show renewed growth and on-chain activity. Solana (SOL) is leading the bullish trend above $260 thanks to network efficiency and rising developer engagement.

Chainlink (LINK) is seeing a surge in whale activity, signaling long-term accumulation by institutions preparing for the next market cycle. Together, these two networks highlight the market’s return to fundamentals and data-driven growth.

Meanwhile, BlockDAG continues to strengthen its foundation with massive hardware expansion. The deployment of 20,000 X Series miners worldwide marks a new era of network accessibility and utility.

Now in Batch 31 at a $0.0015 TGE offer, BlockDAG has raised $430 million and sold 27 billion coins to 312,000 holders. Its Genesis Day on November 26, cementing its status as the best crypto to buy now.

Solana’s Rally Above $260 Hints at $300 Breakout

Solana has established itself as one of the top performers of 2025. Currently trading above $260, SOL has posted steady double-digit gains this month as liquidity flows into high-efficiency Layer-1 ecosystems. Its ability to process over 60 million daily transactions has made it a favorite among developers and institutions alike.

Technical analysts highlight clear support near $240 and a potential breakout target of $300. RSI levels around 68 reflect strong but sustainable momentum. The network’s expanding DeFi ecosystem and NFT market are fueling long-term demand.

Solana’s focus on speed and low transaction costs continues to position it among the best cryptos to buy now for investors who value scalable performance and developer adoption.

Chainlink’s Whale Activity Signals Accumulation Phase

Chainlink is gaining momentum as on-chain data reveals increasing whale accumulation. Over $120 million worth of LINK coins have been moved off exchanges in the past two weeks, indicating long-term holding intent. Currently trading around $19.50, LINK is up more than 15 percent this month.

The growth of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is driving new enterprise use cases and cross-network data flows. Whale wallets accumulating LINK before these upgrades often signal the start of longer bullish phases.

Technical targets range from $21 to $25 based on current volume patterns. As one of the most reliable oracle providers in crypto, Chainlink remains a key infrastructure asset and one of the best cryptos to buy now for investors focusing on data integration and utility.

20K X-Series Miners Prove BlockDAG’s Network Power!

BlockDAG is bridging digital innovation and tangible hardware through the deployment of 20,000 X Series miners across global regions. This milestone demonstrates its ability to convert presale momentum into real operational capacity. Each miner supports the network’s hybrid consensus model, contributing to Proof-of-Work validation while enhancing energy efficiency.

The X Series line includes X10, X30, and X100 models designed for different performance tiers and user needs. By creating a scalable mining ecosystem accessible to both retail and enterprise participants, BlockDAG has eliminated the barriers that once limited network engagement.

Now priced at $0.0015 in Batch 31, the project has raised $430 million and sold over 27 billion coins to 312,000 holders. Its architecture blends Proof-of-Work and Directed Acyclic Graph technologies, achieving throughput of 15,000 transactions per second with low latency. Independent audits from CertiK and Halborn confirm the network’s security and scalability.

Keeping in line with its community-first approach, the network is set to go live on Binance for an exclusive AMA this Friday, October 24, at 3 PM UTC, marking one of its biggest global appearances yet. The session will feature insider updates, new roadmap reveals, and major insights ahead of Keynote 4: The Launch Note and Genesis Day.

The rollout of the X Series miners complements BlockDAG’s broader mission of building a utility-driven ecosystem. With Genesis Day scheduled for November 26 and a listing target of $0.05, the project is entering its most exciting phase. This combination of hardware deployment and financial momentum cements BlockDAG as the best crypto to buy now for those seeking long-term participation in a functional network.

Final Thoughts

Solana’s bullish trend and Chainlink’s whale accumulation demonstrate how strong networks continue to outperform during market recovery. SOL’s high-speed infrastructure and LINK’s oracle dominance both point to sustained utility growth through 2025.

However, BlockDAG’s 20,000 X Series miners and $430 million presale achievement illustrate a different kind of progress, real delivery and execution ahead of launch. With a $0.0015 TGE offer, 27 billion coins sold, and Genesis Day on November 26, BlockDAG has turned presale potential into operational reality, making it the best crypto to buy now for investors focused on proven growth and network substance.

The President of the Association of Private Universities of Africa, Professor Adamu Abubakar Gwarzo, has hailed former Governor of Kano State, Senator Rabiu Musa Kwankwaso, on the occasion of his 69th birthday.

Gwarzo said that Kwankwaso will be remembered for his lifelong dedication to education.

In a goodwill message sent to journalists on the occasion of Senator Kwankwaso’s 69th birthday, Professor Gwarzo congratulated him on reaching this remarkable milestone, commending his outstanding contributions to the development of education and human capital in Nigeria.

‘Senator Kwankwaso’s 69 years on earth have been deeply impactful not only to Kano State but to Nigeria and humanity at large. His visionary investment in the education sector has transformed lives and empowered thousands of young people to reach the pinnacle of academic and professional excellence,’ Professor Gwarzo said. He noted that the many PhD holders, professors, medical doctors, engineers, and other professionals who emerged through Senator Kwankwaso’s scholarship programs are a testament to his enduring legacy in educational development.

‘His commitment to providing access to quality education has elevated countless families and communities. This is the kind of leadership that shapes societies for generations to come.

‘I heartily congratulate you on your birthday and wish you many happy returns. May your legacy continue to inspire present and future generations.’