Category: Daily Trust

Civil society organisations have commended the Chairman of the Nigeria Revenue Service, Zacch Adedeji for introducing reforms that have strengthened the economy.

The organisations noted that government’s revenue reforms have strengthened the economy.

The groups, led by Mallam Musa Bello and Chief Mrs Ngozi Okafor of the Women’s Rights Advocacy Network, announced the decision on Tuesday to suspend their planned protest against the NRS chairman after an emergency meeting in Abuja to review the revenue reforms being implemented under Adedeji’s leadership.

The CSOs, which had earlier called for Adedeji’s removal, said they were impressed by the impact of the reforms on government revenue, the finances of state governments and the business environment.

Speaking at a press conference after the meeting, the groups said monthly allocations to the three tiers of government had increased from about N700bn in 2023 to approximately N4.5tn.

They described the increase as evidence of the impact of the revenue reforms, saying it had strengthened the finances of state governments and reduced their dependence on Federal Government interventions to meet recurrent obligations.

The groups said: ‘We have deeply assessed the revenue drive led by the Executive Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, since he was appointed by President Bola Tinubu to spearhead some of the reforms in revenue generation.

‘We are really impressed with his performance and impact made so far in terms of revenue generation and we can see the impact these reforms have made on the nation’s economy.’

The organisations also commended the reforms in the foreign exchange market, saying they had helped create a more predictable business environment and boost investors’ confidence.

According to them, the previous wide gap between the official and parallel exchange rates discouraged foreign investment because investors could not accurately determine the value of their returns.

The CSOs said the reforms had helped restore confidence in the economy and improve the prospects for capital inflows.

They also highlighted government interventions targeted at young Nigerians, particularly the student loan scheme and access to finance.

The organisations said that Nigerian banks had raised about N4.6tn following the Central Bank of Nigeria’s recapitalisation directive, with about 75 per cent of the funds coming from domestic investors.

They further said that more than one million students in about 300 higher institutions had benefited from the student loan scheme, with over N303bn disbursed in the last three years.

The CSOs acknowledged that the benefits of the reforms had yet to fully reach households but expressed optimism that Nigerians would increasingly feel the impact with time.

Consequently, the organisations shelved their planned protest, passed a vote of confidence in Adedeji and pledged to sensitise Nigerians on the perceived benefits of the economic reforms.

The groups said they had initially been unaware of the efforts being made by the Tinubu administration through the NRS to address the country’s economic challenges.

The organisations include the Leadership Centre for Peace Intercity and Transformation Initiative; Initiative for Advocacy Growth and Economic Advancement; Global Youths Awareness Development; Advocacy Centre for Professional Ethics Values; Anti-Corruption Network for Peace Initiative; Centre for Agri-Business Support in Nigeria; and Initiative for Transformation of the Underprivileged in Nigeria.

Others are Environmental Preservation and Sustainable Agriculture Development; Centre for Peace, Transparency and Accountability; African Leadership Strategy and Transparency Development Initiative; Pan-African Society for Social and Economic Change; Network of Advocacy for Positive Impact Initiative; Northern Initiative of Transparency and Social Justice; Community Peace Building and Environmental Sustainability Initiative; Public Accountability Network Initiative; Youth Initiative for Accountability and Integrity; and Nigeria Youth Advocacy for Good Governance Initiative.

The Lagos State Police Command has arrested four suspected members of the Aiye Confraternity and recovered a locally made Beretta pistol and 9mm live ammunition during a crackdown on cult activities in Mushin.

The suspects were arrested by operatives of the command’s Violent Crime Response Unit following credible intelligence on the activities of cult groups in the area.

One of the suspects, identified as Irawo Moshod, was reportedly arrested first and allegedly told investigators that he was a former chairman of the Aiye Confraternity.

The Lagos State Police Public Relations Officer, SP Abimbola Adebisi, who confirmed the arrest, stated that Moshod made useful disclosures about the activities of the group, including his alleged involvement in several killings in Mushin and other parts of Lagos.

She said acting on the information, the operatives proceeded to Idi-Oro, Mushin, where they recovered a locally made Beretta pistol and one 9mm live ammunition.

The Lagos State Police Spokesperson disclosed that detectives subsequently arrested three other suspected members of the group at Aganran by Ojuwoye.

Managing Director of Coleman Technical Industries Limited, George Onafowokan, has said Nigeria can achieve President Bola Tinubu’s ambition of growing the economy to $1 trillion by 2030 if the government prioritises manufacturing, value addition, affordable financing, and reliable power supply.

Speaking on the administration’s economic agenda, Onafowokan argued that agriculture alone cannot drive economic transformation without a strong manufacturing sector capable of processing raw materials into finished products.

According to him, Nigeria must move away from exporting raw materials and instead focus on adding value locally to create jobs, increase exports, and boost economic growth.

‘You cannot separate manufacturing from agriculture. We don’t want to remain exporters of raw materials. Processing agricultural produce such as cocoa, palm products and shea butter adds value, creates employment and strengthens the economy,’ he said.

He noted that government policies encouraging local value addition are beginning to yield results, citing investments in cocoa processing and increased exports of processed shea butter.

Onafowokan disclosed that about $140 million has already been invested in a cocoa processing plant, while exports of processed shea butter have grown significantly following policies requiring local processing before export.

He also observed that Nigeria’s non-oil exports have increased from 17 per cent to about 23 per cent, attributing the improvement to deliberate fiscal policies aimed at promoting domestic manufacturing.

While expressing optimism about the administration’s economic reforms, he stressed that sustaining the gains would depend on addressing key challenges facing manufacturers, particularly access to affordable long-term financing and stable electricity.

According to him, projections indicate Nigeria could grow its economy to between $700 billion and $800 billion by 2030 under current trends, but achieving the $1 trillion target would require annual GDP growth above 10 per cent.

He commended the Central Bank of Nigeria (CBN) for stabilising the foreign exchange market and moderating inflation, saying the reforms have improved business planning.

However, he warned that macroeconomic stability alone would not deliver the desired industrial growth unless manufacturers have access to patient capital.

‘The challenge today is that there is stability at the macro level, but manufacturers still lack long-term financing. You cannot borrow at commercial interest rates above 20 per cent and expect industries to expand,’ he said.

Onafowokan criticised the rising lending rates of the Bank of Industry (BOI), describing the institution as a development finance bank that should provide affordable funding to manufacturers rather than commercial-rate loans.

He also identified unreliable and expensive electricity as one of the biggest obstacles to industrial growth, noting that power accounts for nearly 40 per cent of manufacturers’ production costs.

Onafowokan further called on the government to deliberately nurture indigenous billion-dollar companies across key sectors, insisting that Nigerians-not foreign investors alone-must drive the country’s economic transformation.

‘No foreigner can grow Nigeria for us. Nigerians must grow Nigeria. Government should deliberately support local companies to become billion-dollar enterprises across manufacturing, agriculture, mining and other productive sectors,’ he said.

The Akwa Ibom State Police Command said it has arrested ten suspects for cultism, and recovered money, Point-of-Sale (POS) machine, locally made pistols, charms, and cult regalia, among other things.

Police Public Relations Officer, DSP Timfon John, said some of the suspects are members of the proscribed Supreme Vikings Confraternity (SVC), also known as De Norsemen Klan.

John stated on Sunday in a press statement in Uyo that some of the suspects had been on the Command’s watchlist, adding that others were causing panic within the community by shooting sporadically into the air before they were apprehended.

‘In separate intelligence-led operations carried out by operatives of the Command, a total of ten (10) suspected cultists were arrested, while a locally made pistol, dangerous weapons, charms, suspected cannabis sativa seeds, cult regalia, and other incriminating exhibits were recovered.

‘In one of the operations, on 4th August, 2026, at about 3pm, following credible intelligence and in furtherance of an ongoing investigation into cult-related activities, operatives of the Command swiftly mobilized to Akpatong Village, Esit Eket Local Government Area, where five suspected members of a criminal gang who had been on the Command’s watchlist were apprehended.

‘A thorough search conducted during the operation led to the recovery of one locally made pistol, charms, one machete, a Point-of-Sale (POS) machine, suspected cannabis sativa seeds, and the sum of Four Hundred Thousand Naira (?400,000.00), all reasonably suspected to be connected with criminal activities.

‘In a related development, operatives of the Command, acting on a distress call from a vigilant member of the public on 31st July, 2026, responded promptly to reports that a group of suspected cultists had unlawfully assembled at a guest house, where they were allegedly shooting sporadically into the air and causing panic within the community.

‘On sighting the approaching police patrol team, the hoodlums fled in different directions. However, the operatives successfully arrested five suspects.

‘Items recovered at the scene include one abandoned red Mercedes-Benz C300 saloon car bearing visible bullet damage, one jack knife wrapped with a red ribbon, two face caps bearing the insignia of proscribed cult groups, and three empty bottles of alcoholic beverages believed to have been used during the unlawful gathering.

‘Preliminary investigation indicates that the suspects are members of the proscribed Supreme Vikings Confraternity (SVC), also known as De Norsemen Klan. Efforts have been intensified to apprehend other fleeing members of the syndicate and recover additional incriminating exhibits,’ the PRO stated.

The Chairman of Kwali Area Council of the FCT, Nuhu Daniel Kwali, has directed the council’s Works Department to immediately assess damaged drainage channels in the area and commence their reconstruction to prevent floodwater from entering residential buildings.

Kwali gave the directive when he was led by officials of the Works Department on an inspection of damaged drainage channels from the Rhema Clinic area to Overseer Quarters in the council on Saturday.

He said following flood alerts issued by the Federal Government, it was imperative for the council to take proactive measures to prevent and control flooding that could destroy homes and property in the area.

He said he personally embarked on the inspection to assess the damage caused by water overflow and blocked or damaged drainage channels.

‘And you know this is the month, especially August and September, when we witness heavy floods. Hence, the council has to swing into action.

To control flooding, we decided to direct the Works Department to quickly carry out an assessment and see how we can reconstruct the drainage channels to contain floodwater,’ he said.

According to him, there had been reports of flooding in some houses around the Rhema Clinic area through to Overseer Quarters whenever there was heavy rainfall, prompting the council to take urgent action.

The chairman also cautioned residents against indiscriminate dumping of waste, particularly in drainage channels, saying such acts had contributed to flooding.

The Nigerian Electricity Regulatory Commission (NERC), has announced the dissolution of the board of directors of the Kaduna Electricity Distribution Company (KAEDCO).

This is coming two years after the company was taken over by ASI Engineering Limited in June 2024.

NERC in an order signed by its Chairman, Musiliu O. Oseni and Commissioner Legal, Licensing and Compliance, Dafe Akepeneye, yesterday, said the dissolution followed the inability of the new owners to meet up with remittance to the electricity market and also expand its network.

Daily Trust reports that KAEDCO was one of the six companies taken over by creditors due to a liquidity issue that prevented it from paying back loans used in acquiring the company.

It would be recalled that the Nigerian Electricity Regulatory Commission (NERC) had in January 2024, dissolved the board of directors of Kaduna Electric over its inability to pay N110bn debt owed to the Nigeria Electricity Supply Industry.

This led to the appointment of an interim board which oversaw the company for the 6 months before ASI took over.

But NERC in its order said as at May 2026, KAEDC’s cumulative market obligation since privatisation stood at approximately N456.5bn, comprising 415.5billion due to the Nigerian Bulk Electricity Trading Plc (NBET) and N41bn due to the Nigerian Independent System Operator (NISO).

It said the company has accrued other non-market statutory and third-party obligations in the sum of N14.26billion.

‘Since the takeover of operations in KAEDC by ASI Engineering Limited (‘ASI’ or the ‘Core Investor’) in June 2024, the Licensee accrued additional market debt in excess of N118.6billion as at May 2026. The Core Investors and KEADC have persistently failed to furnish NBET and NISO with acceptable/credible payment bank guarantees in compliance with the terms of their Vesting Contract and the provisions of the Market Rules of the Nigerian Electricity Supply Industry (‘NESI’). The Core Investor has also failed to present a credible payment plan for these liabilities.’

‘KAEDC paid only 41.93% of adjusted market invoices, leaving a market shortfall of approximately 46.71 billion in the review period ending 31 December 2025. This poor performance is directly linked to KAEDC’s high Aggregate Technical Commercial and Collection Losses (‘ATC and C’) of 71.88%, which means that in 2025 review period, KAEDC was only able to account for only 28.2% of the energy received and delivered to end-use customers.’

The commission explained that further investigations found that substantial regulatory derogations and Federal Government interventions have not reversed the Licensee’s deterioration as approximately N6.58bn in derogations was granted from January 2024 to May 2026.

‘While aggregate Federal Government intervention disbursements since July 2018 were approximately N53.79bn. The continued underperformance therefore poses material risk to end-use customers, creditors, market stability and continuity of electricity service. The analysis confirms that KAEDC is experiencing severe liquidity constraints and that its commercial viability and continued participation in the market poses a systemic risk to NESI.’

It added that despite the commission’s regulatory initiatives and substantial government interventions, KAEDC’s board has failed to present a credible, funded and measurable pathway for capital injection, operational efficiency and sustainable recovery.

It said following the failure of KAEDC to provide a credible plan for the financial sustainability of the utility, a notification of imminent regulatory intervention was issued to its major shareholders and the Africa Export Import Bank (‘Afrexim’).

‘The notification required the parties to present a credible plan that addresses the financial situation of the utility, failing which the Commission would intervene in accordance with the provisions of the Electricity Act 2023 (‘EA 2023’ or the ‘Act’).’

It thereby announced an interim board for the company to oversee its activities for the next six months to halt what it called its pervasive failure and nonperformance in order to maintain continuity and quality of electricity service, protect end-use customers and market participants.

‘KAEDC’s board of directors is hereby dissolved. All directors of KAEDC are removed from office, and the existing board stands dissolved pursuant to section 75 of the EA. The Commission has notified the Corporate Affairs Commission (‘CAC’) and other relevant stakeholders of the dissolution of the board. The CAC shall not register or give effect to any change in the company’s shareholding, directorship or constitutional records during the special transition period without the Commission’s prior written approval,’ the NERC said.

The Chairperson of Billiri Local Government Area, Eglah Idris, has rewarded chess prodigy Mercy Iliya Namarwa with a N500,000 cash prize following her stellar outing at the recently concluded FIDE World Amateur Championships in Abuja.

Namarwa clinched two bronze medals in the tournament’s Blitz and Rapid U2000 Women categories.

Presenting the reward to Namarwa on Monday, Idris described the athlete’s achievement as a massive source of pride for the local government, Gombe State, and the nation at large.

‘We are proud of Mercy and what she has achieved,’ Idris stated. ‘This reward is our way of appreciating her hard work, dedication, and determination. We want her to know that her community is proud of her and will continue to support her.’

The chairperson emphasized that Namarwa’s success highlights the vast potential of local youths when provided with the right encouragement.

She urged other young people in Billiri to use Namarwa’s victory as inspiration to discover and hone their own talents.

‘We will continue to encourage and support talented youths in Billiri because we believe they have the potential to achieve great things and contribute meaningfully to the development of our society,’ Idris added.

She concluded by noting that the financial reward was designed not just to celebrate Namarwa’s current medals, but to motivate her toward even greater milestones in future competitions.

The Lafia Branch Chairman of the National Association of Okada Riders, Uba Yahaya, has said ten commercial motorcyclists were killed in Lafia, the Nasarawa State capital, in the last two months, by attackers, with all their motorcycles snatched.

Yahaya disclosed this to Daily Trust, while reacting to the frequent attacks on Okada riders in the state.

According to him, as chairman of the association, he personally attended the funerals of all the victims.

‘We ourselves have attended the funerals of ten people. All their motorcycles were taken away! All of them! They were killed,’ he said.

He described how the killings are carried out, citing one case of how a rider was hit with a club along the bypass.

He also recounted another incident where a rider was stabbed ‘straight to his heart’ and had his skull smashed.

‘Some came and were admitted to the hospital with injuries, with their motorcycles taken away,’ he added.

The chairman said security in the area has worsened again despite recent steps taken by the state government that initially brought ‘some relief.

‘People experienced some relief, didn’t they? But because people relaxed, now the problems have started increasing again,’ Yahaya stated.

He said most of the attacks now happen at night, ‘between the Maghrib prayer and the Isha prayer,’ though some occur during the day.

Criminals pretend to be passengers

He alleged that criminals now operate by pretending to be passengers or mechanics and by using commercial motorcycle jackets recently distributed to riders to deceive victims.

‘A certain young man, just recently, had his motorcycle taken. That criminal was wearing the rider’s jacket. So he deceived that other guy. One sat behind the motorcycle, and the two deceivers were on the bike.

‘That’s how they continued to beat him. In the end, he barely escaped, and they took the motorcycle and ran away,’ he narrated.

Yahaya also alleged that one suspect had snatched more than five motorcycles.

‘He uses a gun; if he shows you the gun, if you don’t give him the bike, he’ll pull out the gun. Even during the day, he does this work all alone!’ he said.

The chairman said the association is ‘100% behind the government’s move to reduce the movement of these night travels’ to address the killings and snatching.

‘We are doing the best we can,’ he said, calling for urgent intervention.

My two brothers were victims – Relative

A relative to one of the victims, Abduljalal Muhammad, recounted how his younger brother, Yusuf Muhammad, was shot and killed by suspected criminals, while working as a commercial motorcyclist in Lafia.

Abduljalal said the incident happened after his brother picked up a passenger and was demanding his payment.

‘He picked up a passenger and when he demanded his payment, they shot him.’ he said.

According to him, the attackers used a pistol and shot his brother while he was waiting for his payment

‘They will hold a short gun and point it at you while you’re waiting for your payment. They will shoot at your head.’

He said the killing occurred in Makurdi road after Housing Estates, saying some people told them of the incident. ted by residents.

‘By God, most of the task force officers didn’t even go to that area, let alone see the body. We got the body through the effort of some brave young men,’ he said.

Abduljalal said the area has become dangerous for Okada riders.

He added that another relative was also shot in the same area but survived.

He added that the victims are from Jigawa State and came to Nasarawa State to work as Okada riders.

Police issues advisory to riders

Reacting, Nasarawa State Police Command advised commercial motorcyclists in the state to avoid late-night operations and to remain security conscious, warning that criminals often lure riders with offers of huge fares before attacking them.

The Command’s Public Relations Officer, SP Ramhan Nansel, said most of the attacks on Okada riders happen at night.

‘Whatever you cannot get during the day will be difficult for you to get at night. And most of the time, these criminals, they will lure them with big money,’ Nansel said.

He explained the pattern used by the attackers, ‘Somebody will tell you, ‘from Total, take me to Shabu. From Shabu, go here. From Shabu, now go to other places.’ Don’t worry, I’ll give you so-so amount. When they hear that huge amount of money they will lure them. And then take them to secluded areas, take a gang and attack them now, and dispossess them.’

He urged riders to be mindful and to report any incident to the police to aid investigation.

‘Reporting it will assist us in investigation, because if they don’t, we may not know. The police cannot be everywhere. But people are everywhere. So when they report, we will spread our tentacles and see how it will be investigated,’ he said.

The PPRO added that some of the recent attacks on Okada riders have not been officially reported to the command.

A member of the Kano State House of Assembly representing Tudun Wada constituency, Sule Lawan Shuwaki, has defected from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP).

Speaker of the Assembly, Ismail Falgore, read Shuwaki’s resignation letter during plenary on Tuesday.

In the letter, Shuwaki said his decision followed ‘deep reflection and consultations’ with political associates, supporters and family members.

He thanked APC leaders at all levels for the support he enjoyed while in the party but noted that he had chosen a new political path that aligns with his principles.

Confirming the move, Shuwaki disclosed that he had joined the PDP months earlier but delayed formal announcement due to political consultations.

He also appreciated his former associates and supporters in Tudun Wada, urging residents to maintain unity and cordial relations despite political differences.

The Speaker explained that the Assembly leadership had received the resignation letter about two months ago but held back its reading while engaging Shuwaki to confirm his position.

The Taraba State Government has debunked reports suggesting that the state’s debt portfolio had risen to N1.2 trillion.

The State’s Commissioner of Finance, Dr Sarah Adi Enoch, while reacting to the report during a press briefing in Jalingo, said the report does not reflect its officially recognised debt stock, which was contained in the latest available records of the Debt Management Office (DMO).

She revealed that the state domestic debt stood at N85.51 billion as of December 31, 2025, and not N1.2 trillion as claimed by reports sponsored by some mischief makers.

According to her, the current domestic debt figure of N85.51 billion represents a reduction of about N2.45 billion from the approximately N87.96 billion reported before the administration of Governor Agbu Kefas came into office.

She explained that the DMO had clarified that the Taraba debt figure contained in its March 2023 publication was actually based on the state’s position as of September 30, 2022.

Dr Sarah stated further that the latest DMO data showed that the state’s domestic debt stock as of December 31, 2025, was approximately N85.51 billion.

‘The official DMO figures do not support suggestions that Taraba State’s domestic debt profile rose to N1.2 trillion. That claim is not only false but a calculated attempt by mischievous groups to paint the Taraba government black,’ she said.

Speaking further on the state’s external debt, the commissioner said that the DMO had placed Taraba’s external debt at approximately $46.47 million as of December 31, 2022, compared with $48.04 million as of December 31, 2025.

Dr Sarah, however, described the movement in the external debt position as relatively modest and acknowledged the exchange rate risks associated with foreign currency obligations.

She said the Taraba State government would continue to ensure that external financing remained within the limits of fiscal sustainability and its repayment capacity.