Category: Nigerian Tribune

The Congress of University Academics (CONUA) has declared that its members are at work and not on strike action like the Academic Staff Union of Universities (ASUU,) which has directed members nationwide to commence a 15-day warning strike beginning on Monday.

CONUA is a breakaway union from ASUU and was registered by the Federal Government as an independent body during Dr Chris Ngige’s tenure as the Minister of Labour and Employment.

The National President of the union, Dr Niyi Sunmonu, a faculty member of Obafemi Awolowo University, Ile-Ife, gave the hint on Sunday night in a statement to clarify CONUA’s stance on the declared strike action by ASUU.

According to him, there is a need to clarify the misinformation circulating across some platforms, which has created unnecessary confusion within the university community and among students; hence, this clarification to set the record straight.

Sunmonu emphasised that CONUA remains deeply committed to academic stability, excellence, and the smooth functioning of Nigeria’s universities through constructive dialogue and peaceful engagement with government and all stakeholders.

So, members, he noted, are urged to continue performing their academic and administrative duties diligently – to report to work, engage with students, and carry out their professional responsibilities as expected.

He said, ‘Your steadfastness and integrity remain vital to sustaining standards in our higher education system.

‘Thus, it is important to emphasise that CONUA has no basis at this time to declare a dispute or embark on any strike action.’

He explained what transpired recently between the union and the Federal Government on the long-running contextual issues that have defied a permanent solution all these years, saying, ‘When the renegotiation committee of the 2009 Agreement was inaugurated in October 2024, CONUA was conspicuously and deliberately omitted.

‘And the union formally protested this exclusion, which eventually culminated in a meeting with the Minister of Education on 11 September 2025.

‘At that meeting, the minister acknowledged CONUA’s concerns and assured that the Yayale Ahmed Renegotiation Committee would be expanded to include all the academic unions in Nigeria’s federal tertiary institutions.

‘We are pleased to note that the Ministry of Education has recently expanded the committee, fulfilling that promise.

‘Until CONUA is formally brought to the table and any of the issues it has presented to the Federal Government become subjects of dispute, there is no foundation whatsoever for any strike action by CONUA.

‘Our resolutions from nationwide congresses following the 11 September meeting, the national leadership reported the outcome to members across universities, after which congresses were held between 18 and 24 September 2025.

‘At these congresses, members unanimously reaffirmed CONUA’s principled stance that no strike action should be taken and that engagement, not disruption, remains the best path forward for the Nigerian university system.

‘Based on this, we respectfully call on Vice Chancellors to ensure the safety and protection of CONUA members as they continue their legitimate duties within their respective institutions.

‘We equally encourage students to remain focused on their academic pursuits without fear of interruption.

‘The union stands by its commitment to quality education, national development, and peaceful industrial relations in the university system.

‘Similarly, CONUA’s unwavering focus is on building a sustainable, innovative, and productive academic environment that serves the interests of students, scholars and the nation.

‘And we appreciate the understanding and cooperation of all stakeholders in supporting this constructive approach to advancing higher education in Nigeria.’

Tribune Online reports that the Federal Government has threatened to invoke a work, no pay policy on ASUU members and such consequences will likely affect CONUA members if they remain quiet about the side they belong to in the ASUU strike.

The last nationwide industrial action by ASUU, which lasted seven and a half months, resulted in the government withholding the salaries of all the academic staff of federal universities, including CONUA members, for that period, but later released four months’ salaries while the rest are not released to date.

The Minister of Solid Minerals Development, Dr. Dele Alake has reaffirmed the commitment of the Federal Government to on-going reforms declaring that no amount of threats or blackmail will derail the transformative agenda already yielding results.

Speaking at a media briefing over the weekend for the 10th Nigeria Mining week commencing on Monday, Alake asserted that reforms are yielding fruits as various indices including that of the National Bureau of Statistics (NBS) are pointers to this fact.

‘About 10 years ago, the contribution of mining to our nation’s GDP was less than 0.5% but today it has increased to 1.8% with figures from the NBS indicating an unprecedented 4.61% in Q2, 2025. In practical terms, this means more mines in operation, more companies investing and more communities being impacted by mining activity’, he added.

Reflecting on the evolution of the sector, the Minister said the Nigeria Mining Week has mirrored the industry’s shift from informality to a structured, innovation-driven, and investor-attractive environment. He highlighted reforms focused on transparency, investment risk mitigation, and value chain optimization.

Revealing that efforts to strengthen regulatory frameworks have faced backlash including threats to his life, Alake reiterated his unflinching resolve to follow through, declaring that no amount of intimidation, sponsored articles by unpatriotic hack writers or campaign of calumny can deter the vision of repositioning the mining sector.

His words, ‘The mining sector was hitherto an all-comers affair where operators got away with flagrant abuse of regulations. When we came in, we made efforts to correct this anomaly and those affected have been employing all forms of tactics, including threats and blackmail to force us to reverse course. I want to assure Nigerians that our resolve is unflinching. We are going ahead to enforce strictly all regulations, no matter whose ox is gored.’

The minister cited the revocation of mining licenses, reiterating that it is an on-going process, emphasizing that the era in which people defaulted in payment of annual service fees or held in licenses for over 10 years without using it or commencing any form of operation is gone with the wind. He asserted that the ‘Use it or Lose it’ clause in the mining act will be strictly enforced to pave way for serious investors to develop the mining sector.

‘Our desire for a very conducive operating environment should not indulge those who are in constant default of the regulations. We won’t tolerate that. I have had to triple my personal security following threats received from some of those whose licenses were revoked but I am undaunted. Our confidence is hinged on the fact that we are waging the battle based on principle, for the sake of our country,’ Alake added

He hinted at the establishment of a new pre-shipment agency for solid minerals, affirming that the installation of satellite surveillance of mining sites is also underway alongside plans to double the personnel of the mining marshals. This is aimed at ensuring that the mobile squad has active presence in all local governments in the country and fully equipped to curtail illegal mining.

The minister urged all stakeholders, industry players and investors to join in making the mining week a resounding success asserting that it promises to be a platform for networking, consolidating on progress made, attracting responsible investments and ensuring that the mining sector contributes substantially to Nigeria’s industrialisation.

In his remarks, President of the Miners Association of Nigeria, Dele Ayanleke urged government to continue to strengthen policy implementation whilst urging investors to take advantage of the mining week to harness the opportunities Nigeria offers. He lauded the minister for his yeoman’s efforts in advancing the mining sector, expressing the support of the association for on-going reforms.

The 10th Nigerian Mining Week themed, ‘Nigerian Mining: From Progress to Global Relevance’ is organized by the Ministry of Solid Minerals Development (MSMD) in partnership with the Miners Association of Nigeria, Vuka Group, PwC amongst others. It is billed to hold from the 13th to 15th October 2025 at the Abuja Continental Hotel.

You know where the latest anti-government journalists are in Lagos? Kirikiri. On a day that Nigerians were celebrating an additional spur of 100 kilometres to the Lagos-Calabar Coastal Road, the killjoys of Kirikiri struck. They took a happy, joyous people of 200 million on a gruelling, bumpy ride across the country. They ran painful stories of craters and potholes and headlined them: ‘Federal Highways of Horror.’

It is a miracle that our Minister of Works, Dave Umahi, has not pummeled the Lagos newspaper called Vanguard. It ran the bad stories. It is still unclear why the minister has not rebuked its owner and spanked its journalists for publishing what they were not supposed to publish. Not once, but twice, last week they allowed the devil to use them to tell stories of collapsed federal roads from the north to the south. Their stories portrayed hardworking Umahi as a failure in monumental proportions.

Those journalists, injected with an overdose of impudence, said they did an investigation. They painted a grim picture of federal highways across multiple Nigerian states suffering severe neglect. They said the neglect has made travel dangerous, expensive, and time-consuming. They wrote as if they were sent to pull down a house built by God.

In the South, they came up with a long list of bad roads. They said northern states shared the same story of pain. They described some roads as crater-filled horror scenes; some as barely passable, others as sites long abandoned by contractors. On the few ones harbouring contractors, the signs they displayed showed slow men at work.

It does not rain; it pours. Amid narratives of millions of bad federal roads, Umahi made himself professor last week. ‘I am a professor of Engineering,’ he announced on national television. Professor Umahi? I pray he is not asked to name the king who blessed him with that chieftaincy title. Some Arise News television journalists, whose eyes lack lashes, forced him to make himself professor. They habitually tug at the hem of Umahi’s professorial gown. They pelt him with questions that should never be asked. They remind our working Minister of Works that a river that is not dirty does not hide its depth. Last week, they demanded the cost of federal roads per kilometre. Who does that? And, I am happy, Minister Umahi gave it back to them. He said they are illiterates. Yeah. Don’t they know that for our federal government, spirits decide the total costs of projects? If they were truly not illiterates, they would know that this government is a wholesale seller and buyer; it is too rich to do retail business measured with short tape rules and elementary school rulers.

Oyo State governor, Seyi Makinde, thought because he was governor and engineer he could join the talk and say that calculating the average cost per kilometre was possible in road construction. He was similarly told by our minister to shut up or he would be summoned to a debate on the very difficult mathematics of road construction. Umahi said he is Makinde’s senior in engineering. Senior Prefect Umahi described electrical electronics engineers as ‘technicians’ who must not speak on project costs.

Now, what we are told to hold as knowledge from Professor Umahi is that it is impossible to know how much a kilometre of road costs in Nigeria until such projects are completed. God is great. The World Bank must have missed that wisdom back in 1999 when it created the Road Costs Knowledge System (ROCKS), a database that calmly lists what it costs to build or fix a kilometre of road from Umahi’s village in Ebonyi to Makinde’s Ajia in Ibadan. A key feature of the World Bank’s ROCKS is its record of actual and estimated road work costs, clearly defined per kilometre and per square metre. Apparently, only in Nigeria do roads and their costs defy mathematics and logic.

In utter helplessness, we watch the roads and their costs stretch and shrink like chewing gum depending on whose fingers are working the calculator. While other countries classify their roads by type and cost per kilometre, we prefer a more spiritual approach – if you are an enemy, call it faith-based budgeting.

Clarity is the father of all openness. Why is it missing here? Again, that is not a question or a proverb that we must hear again from anyone, especially professional troublemakers called journalists. What is the problem of Nigerian journalists? Because their eyes have no skin, they query power. Where a cup is half-full, what our journalists see all their lives is a half-empty cup. They didn’t start today. They are historically insolent. What they do to this government, they did to even our ancestor, Lord Lugard, in 1913, one full year before Amalgamation. On 8 March, 1913, one rude journalist working with a newspaper called Lagos Weekly Record wrote that Lugard was a wicked, ruthless character, ‘a man whose walking stick is a pistol and whose thoughts by day and dreams at night are punitive expeditions and military patrols.’

And what was Lugard’s reaction to such attacks? He fought them with laws and knocks. At a point, he documented their impudence with a letter to his wife, Flora. In the letter, he bunched the journalist with all the other ‘educated native’ who deserved no sympathy. He wrote about the native enemy of the state: ‘His loud and arrogant conceit are distasteful to me, his lack of natural dignity and of courtesy antagonise me.’ Lugard’s biographer, Margery Perham, graciously remembered to put this in the book: ‘Lugard: The Years of Authority’ on page 585. If you can’t get Perham but are fortunate to get Jonathan Derrick’s ‘Africa, Empire and Fleet Street’, check the details there. They are on page 115.

So, as Lugard, the creator of Nigeria rightly wrote, the Nigerian journalist is arrogant and lacks courtesy. Such are called alárífín in Yoruba. In the days of old, the crime of àrífín carried capital punishment. Aróbafín l’oba npa. But today’s journalists are lucky that they are in a republican democracy. Even then, someone should pay for their bad behaviour. The slap they get from ministers like Umahi is the first tranche of the cost of their bad manners.

What should the state do to the conceited who won’t let expressway contracts be awarded expressly in peace? I have a solution to their problem: Like the Vanguard, they should all be relocated to Kirikiri; all of them, from Lagos to Ibadan; from Ibadan to Lagos. And, if I had my way, I would tip off Umahi and all his harangued hardworking colleagues to award contracts this week for more cells for enemies of the president’s coastal elephant and other projects of renewal. Their new accommodation should enjoy maximum security. They deserve Kirikiri, Kirikiri deserves them.

What comes fast cannot be delayed again. It happened to cricket. Cricket set his wedding day and simultaneously asked his doctor to start preparing for child delivery. The contracts for a safe house for Nigerian journalists can be awarded today, or, latest tomorrow. There is no need for formalities. Exactly like the Coastal Road contract, this is another no for competitive bidding. We already know contractors with proven track records of expertise in casting beams and building cells. We select and hit the site digging. We can fix the contract cost after the job is done.

From this point, we see long shadows over the country; there is no clarity about important things government do. But, one day soon, like sun rays, clarity will force its way in; it is the father of openness.

Now, beyond the scaffold of satire, I wish I could just tear the mask and tell Minister Umahi that what we have today under his watch is road transportation without roads. And he is Minister of Works in charge of roads. It is a shame.

In May this year (2025), I wrote ‘The shame of Ibadan-Ife-Ilesa road.’ The first two paragraphs of the piece read:

‘Mr Dele Alake represents Ekiti State in the Federal Executive Council. Alhaji Gboyega Oyetola represents Osun State in the Federal Executive Council. Mr Olubunmi Tunji-Ojo represents Ondo State in the Federal Executive Council. All three of them are the president’s core men. Each time the council sits and approves federal roads for reconstruction in states other than theirs, what goes on in their minds? They are very powerful ministers but all federal roads that lead to their states are decrepit and abandoned. And they know. So, what is the problem?

‘The Ibadan-Ife-Ilesa road that links these ministers’ states to Lagos and to the North is the worst in Nigeria. Senate leader, Opeyemi Bamidele, is from Ekiti State. He belongs to the president’s inner caucus. Tough-talking PDP Senator Francis Fadahunsi represents Ife-Ijesa senatorial district. There are seven other senators and several Reps of APC and PDP from those three states. Has anyone heard them say or do anything to make that road well again? Do these people go home and how do they get home whenever they go home? Nigerians of all states lose lives and limbs on that road daily. Death by installments on the road is harrowing and it is a daily experience. It is a fitting tribute to the attention we pay to our people’s welfare.’

That was on May 12, 2025 (five months ago). If the road was ‘going, going’ when I wrote that piece, it is gone now. Gone. An ex-senator told a columnist in May this year that N20 billion had been ‘released for repairs’ of that road. In August 2025, Umahi announced the release of 30 percent of the contract sum. How much is the contract sum? Don’t even go there. If you go there, the minister will be angry. He will remind you that you are not a road professor. If you must ask any question at all, ask what has happened to what Umahi said was released, his 30 percent. Ask, because, nothing that is worth one kobo has happened on that road this year.

But the total collapse of the road did not come to me as a surprise. By the noon of May 12, 2025 when I published the article, one of the senators I called out in the piece called me.

‘They have just read to me what you wrote.’ He told me. Big men don’t read newspapers; newspapers are read to big men. Senator said he laughed at my naivety. He wondered why I was disturbing myself writing rubbish about a contract that may never be executed.

‘Do you think Nigeria can ever be better than it is? (Sé ìwo rò wípé Nigeria lè dára jù báyìí lo ni?)’ He asked and proceeded to shame me with names, facts and figures all of which answered his question with a no. He said I should record and publish all he said. I laughed at the audacity of his directive. An orphan like me will never dare court a wound on the back.

Besides, I was taught early in life to make my eyes flexible enough for them to see the nose. That was the wisdom that eluded Partridge who claimed to know it all, and because he made that claim, he blocked his own opportunity to learn Ifá from the pigeon. ‘Mo m’Obàrà, mo m’Ofún,’ tí kò j e kí ?y?lé k’ àparò n’Ífá (I know Obàrà, I know Ofún’ made the pigeon not to teach Ifá to the partridge).

So, my pigeon listened attentively to the incantation from the hawk. This senator ended his long, windy speech with a submission that the Ibadan-Ife-Ilesa road, and other federal roads in the South-West were decrepit and abandoned because the Works Minister ‘does not like hearing South-West at all.’ I heard him and sighed.

When the outspoken gentleman spoke with me five months ago, he was a PDP senator. He has since moved to Dave Umahi’s party. Now, I wonder if he will still say what he said now that he is in APC.

Author and literary critic, Robert M. Wren (1928-1989), in 1982 wrote ‘The Last Bridge on ‘The Road’: Soyinka’s Rage and Compassion.’ He tells us that in 1962, Wole Soyinka, in a Lagos Daily Express essay entitled ‘Bad Roads, Bad Users, Bad Deaths’ captured Nigeria’s enduring road crisis. Writing with outrage and in satire, Soyinka lamented the deadly state of the highways. He agonised over the state of the Lagos-Ibadan road (Mile 34); there was what he called ‘the death-trap at Ife’, and ‘the last bridge on Ikorodu Road.’ Soyinka recalled and deplored a senator’s refusal to carry a crash victim with a spinal cord injury to Ibadan. More than six decades later, the roads are still bad, very bad; they still kill; senators are still cold-blooded; they still wonder why anyone bothers to care that the roads are bad.

Dale Carnegie, a renowned human resources and performance expert, predicted some years ago that the survival of companies will depend not on the usual factors for success but the intrinsic or innate ones.

He pointed out that a profound cultural transformation will be needed to lead the human resource to optimise output because there will be a need to ‘think quicker, work smarter, dream wilder and relate collaboratively.’

Leaders on the other hand, will have to communicate and motivate far more effectively and mine every ounce of talent and creativity that their organisations possess, ‘from the shop floor to the executive suite.’ In other words, intrinsic and innate values will play very critical roles in competitive advantage.

There are two sides to determining competitive advantage namely; the vertical and the horizontal chains of business systems.

The vertical chain consists of economies of scale, design, technology, variety or range of products or services, sales force (quantitatively and qualitatively), ease of distribution and after sales services. These are usually described as the key factors of success (KFS).

The horizontal chain is made up of innate or proprietary values. Competition can copy products or even hire human resources with higher wages but intrinsic capability cannot be separated or ‘stolen’ from the company. You have proprietary knowledge and ownership of it. It is your DNA.

Experts have appropriately described this intrinsic capability as the ‘moat’. The MOAT is an aspect of business activities which makes it more ‘defensible’ and protected from competitors, because of its unique and intrinsic attributes. Niche and premium products or services are the complimentary fruits of MOAT.

The MOAT separates the company from others, gives it protection and makes it defensible. The MOAT enables individual companies to sustain high profit margins and also dominate their areas of operation.

For instance, a company like Apple leads its rivals with innovative technology, functional and user-friendly products. Its brand story thrives on honesty and transparency. The company, according to feedbacks, is trusted by its customers for its integrity and talent as well as its creative distinction.

With the permission of readers, I would like to delve a little bit deep into the MOAT of a Nigerian wholly indigenous financial services company with independent affiliates in Liberia and the Niger Republic.

Mutual Benefits has an organisational construct and capability that is regularly improved upon with innovation by ‘casting votes’ on habits and beliefs in order to constantly draw out evidences of genuineness. We always want to be sure of the genuineness and essence of the choices our associates (or employees) make on a daily basis. Our identity must adequately and fully represent the story we are telling everyday with our services. Are the hands, legs and hearts aligned to regularly deliver superior service? Do our values guide the behaviours and collective know-how that are key to our success?

Three of the many ways through which the above perspective is achieved are the weekly strategy session, the annual Thanksgiving Service and the Group Chairman’s one-on-one message to every member of staff at the beginning of each year.

All stakeholders including suppliers, representatives of the regulatory bodies, associates/employees and other stakeholders are invited to this key event, the Annual Thanksgiving Service, on a date which has now become institutionalized.

In an atmosphere of conviviality, the company gets very valuable feedbacks. Genuine appreciation is given to individual associates and their families. Very important announcements are made to enable every stakeholder to be on the same page in terms of strategic and very useful information. The outlook for the year is appropriately outlined and discussed and then, collective endorsement is received.

The Monday weekly strategy sessions are used to lay out, discuss and achieve closure on continuous thought-experiments. These sessions analyse operational decisions in order to gauge effectiveness and consistency. Also, success of strategy plans is measured and rated. Other things that come under focus-lights include: personnel, processes and systems support as well as business and organisational goals.

The Group Chairman’s personalized message to employees is novel in its essence. It shows genuine appreciation, respect and encouragement to individual staff members. It addresses them directly as critical stakeholders and valued members of the team. Also, their families are appreciated for providing the much-needed support. This year’s message, for instance, specifically singled out each individual for well-deserved appreciation ‘for your valued ideas, industry and innovation.’

There is one thing that is fundamental and a fall-out of the horizontal chain. It is a balanced scorecard. A breakdown of this includes; above and beyond expectations from leaders and associates, how well-engaged the associates or employees are, customer satisfaction, quality outcomes, highest performance, innovation and growth as well as financial performance.

A healthy culture must deliver the best. Everybody must be aligned. What the company is good at by way of capability must be fully released and tapped for benefits as well as profitability. There must be harmony. Every stakeholder must cooperate with each other and work in conjunction with each other. Not competing with each other.

As said earlier, intrinsic values, just like the ‘patent’, are critical to progress. It enhances value to customers while at the same time reducing costs for both.

It must be ‘exploited’ so efficiently that others cannot horn on its core business values. It must be continuously enhanced so it does not become static otherwise it will stop playing its crucial role in growing competitive advantage.

It deepens as well as broadens advantages. It progressively strengthens the differentiating mechanism and thereby blocks replication or imitation by competitors. Factors that strengthen it include, among others, information from internal operations and feedbacks from customers.

The good thing about MOAT is that you must press forward and upwards where you have differentiating advantages. Competitors must not duplicate it for the advantage to be sustained. Also, competition must not duplicate the ‘resources’ underlying it. A take-out from MOAT is that you can turn critical asymmetries into important highly beneficial advantages.

Other characteristics of this proprietary advantage include reputations, social relationships and the dramatic network effects and economies of scale that can be derived from vibrant customer groups. Another feature is unique and valuable skills gained through experience. Companies that want to thrive always and have superior competitive advantage, must always be at their creative best and fully develop unique endowments and talents.

Let me conclude by briefly discussing the formation of value-delivering teams.

Quoting Dale Carnegie again, you do not simply ‘throw individuals together, even a few talented individuals together and expect them to perform brilliantly.’ Effective teamwork does not happen by magic. It takes a cooperative group of players and a talented coach.

Teams, he adds, must work beyond their disciplines, outside their cultures, above and below their positions and responsibilities. They must also collaborate across departments, divisions and functions.

For a team to be an effective one, it must create a shared sense of purpose. Goals must be team goals. Individuality does not operate in a team but individual members of the team must be treated with respect. There must be collective responsibility for outcomes.

Also, the mirror and window model must always apply. Appreciation must be shared with team members and the leader must look at himself in the mirror whenever there are problems with outcomes. Team members must be motivated to be involved and remain involved.

The leader of a team must always and truly appreciate and respect members of his team. That, indeed, is the bedrock of motivation. You must be responsible for those that have been put under your stewardship. You must take care of them and always show empathy. An expert advised team leaders ‘to be responsible for the people who are responsible for the people, who are responsible for the customers.’

Simon Sinek in his book, Mindset Moments, disclosed that effective teams are not necessarily built around the skilled and physically endowed. He said that ‘those who dig down to find the energy to help the person next to them notwithstanding the fact that they are emotionally and physically exhausted, succeed in effective teams.’

He added that services given to another or having each other’s back are the stellar qualities of effective team members. He noted that those that ‘have the backs of their partners make the highest performing teams in the world, not strength, not intelligence.’ Team members must always be willing to be there for each other.

The Central Bank of Nigeria (CBN) has taken a significant step toward stimulating economic growth by cutting its benchmark interest rate, the Monetary Policy Rate (MPR), to 27 percent-a 50-basis-point reduction.

The decision, announced at the 302nd Monetary Policy Committee (MPC) meeting held on September 22-23, 2025, marks a cautious but deliberate pivot from a prolonged period of monetary tightening toward a more growth-oriented policy stance.

The CBN’s move, which aligns Nigeria with the global trend of monetary easing, comes on the heels of five straight months of disinflation, stronger external reserves, and a rebounding oil sector that helped push economic growth to its fastest pace in over two years.

According to official data, headline inflation slowed to 20.12 percent in August 2025, down from 21.88 percent in July, while Gross Domestic Product (GDP) expanded by 4.23 percent in the second quarter of 2025, driven largely by a 20.46 percent rebound in oil output and resilient performance in the non-oil sectors.

In its communiqué, the MPC stated: ‘The stability in the macroeconomic environment has offered headroom for monetary policy to support economic recovery.’

The cut is expected to lower borrowing costs, stimulate credit expansion, and boost consumer and business confidence, particularly among small and medium enterprises (SMEs) that have struggled with high financing costs.

The new monetary stance goes beyond a simple rate cut. Alongside the lower MPR, the CBN introduced several complementary measures to balance growth with financial stability.

The Cash Reserve Ratio (CRR) for commercial banks was maintained at 45 percent, while a new 75 percent CRR on non-TSA (Treasury Single Account) public sector deposits was introduced to tighten liquidity and prevent excessive money supply growth. The liquidity ratio was held at 30 percent, maintaining stability in banks’ short-term funding positions.

Analysts say the combination of measures reflects a calibrated easing strategy-a bid to stimulate growth while ensuring inflation expectations remain anchored and excess liquidity does not undermine financial system stability.

Between optimism and caution

Financial market experts largely welcomed the decision but warned that its effectiveness depends on how well the policy transmits through the banking system to the real economy.

Mr. Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, described the rate cut as ‘tactically appropriate,’ given moderating inflation and relative exchange rate stability.

‘The CBN is seizing the opportunity provided by the disinflationary trend to stimulate the economy,’ Rewane said. ‘But the success of this rate cut depends on whether banks can actually lend at lower rates and whether businesses can absorb that credit effectively.’

He cautioned, however, that while Nigeria is aligning with global monetary easing, underlying risks remain.

‘Globally, central banks are cutting rates to encourage growth, but Nigeria’s inflation is still above 20 percent. Without structural reforms-particularly in energy, logistics, and fiscal policy-the benefits could be muted,’ he added.

Rewane concluded that while the MPR cut sends a positive signal, the real test lies in the country’s ability to complement monetary easing with structural and fiscal reforms that enhance productivity and competitiveness.

Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), also commended the move, describing it as a ‘much-needed relief’ for Nigeria’s struggling private sector.

‘This is a step in the right direction. Businesses have been grappling with lending rates often exceeding 30 percent. The reduction in MPR sends a strong signal to the market and could help ease financing costs, especially for SMEs,’ Yusuf noted.

He argued that the CBN’s decision reflects a more balanced approach between price stability and growth.

‘For too long, monetary policy has been skewed toward inflation control, often at the expense of growth and job creation. This easing shows that the CBN is beginning to recalibrate toward supporting recovery and employment generation,’ he said.

Yusuf further urged fiscal authorities to complement the monetary easing with targeted interventions such as tax reliefs, infrastructure investment, and production incentives to ensure the policy achieves tangible outcomes.

Mr. Tilewa Adebajo, CEO of The CFG Advisory, viewed Nigeria’s rate cut as part of a global synchronisation of monetary easing after years of tight policy across major economies.

‘We are seeing the U.S. Federal Reserve, the European Central Bank, and several emerging market central banks pivot toward easing after extended tightening cycles. Nigeria’s move is consistent with this global realignment,’ Adebajo said.

He pointed out that Nigeria’s improving external position-with foreign reserves rising to $43.05 billion (covering 8.28 months of imports) and a current account surplus of $5.28 billion-has given the country room to support growth without immediately risking macroeconomic instability.

‘The stronger reserves and a surplus current account provide a buffer against capital outflows. However, global uncertainties-from geopolitical tensions to commodity price volatility-could quickly alter the landscape. Policymakers must remain agile,’ he cautioned.

For Adebajo, the key to sustaining investor confidence lies in policy consistency and credibility.

‘This decision signals to investors that Nigeria is committed to growth while managing risks. But execution will be the real test,’ he said.

Global context

Nigeria’s policy pivot mirrors a broader global trend. Across major economies, central banks are transitioning from an era of steep rate hikes to one of measured easing, as inflation pressures ease and growth weakens.

In the United States, the Federal Reserve has hinted at cutting rates in late 2025 as inflation falls toward its 2 percent target and the labor market cools. The European Central Bank (ECB) reduced its key rates earlier in the year to support a sluggish Eurozone economy.

In emerging markets, countries like Brazil, Chile, and South Africa have already embarked on rate-cutting cycles, reversing the aggressive tightening implemented between 2021 and 2023 to combat post-pandemic inflation.

By aligning with this trend, Nigeria ensures its monetary stance remains competitive and avoids creating wide interest rate differentials that could trigger capital flight or speculative attacks on the naira.

Domestic backdrop

The MPC’s decision was underpinned by notable improvements in Nigeria’s macroeconomic indicators:

Inflation moderation: Headline inflation declined to 20.12 percent in August, with both food and core inflation easing.

Economic expansion: GDP grew by 4.23 percent in Q2 2025, driven by oil output recovery and steady non-oil sector activity.

External reserves: Increased to $43.05 billion, reflecting higher oil receipts and improved foreign inflows.

Current account surplus: Widened to $5.28 billion, offering a buffer against external shocks.

Bank recapitalisation: Ongoing efforts have strengthened financial system resilience, with 14 banks already meeting new capital thresholds.

These developments provided the CBN with ‘policy space’-the ability to cut rates without triggering instability or undermining its credibility.

However, despite improved fundamentals, significant structural challenges persist. The MPC flagged the build-up of excess liquidity in the banking system from government spending as a risk to the disinflation trend.

Other long-standing constraints include: Poor infrastructure, especially in power and logistics; High levels of informality limiting monetary policy reach; Shallow credit penetration reducing the impact of rate cuts; External vulnerabilities linked to oil price swings, geopolitical risks, and volatile capital flows.

Outlook

Looking ahead, the MPC projects continued disinflation in the coming months, supported by a stable exchange rate, easing global energy prices, and improved domestic food supply following the harvest season.

If these trends persist, analysts believe the CBN could have room for further easing later in 2025. But many caution that rate cuts alone will not deliver sustainable growth.

‘Cutting rates is the easy part,’ Rewane observed. ‘Ensuring that those cuts translate into real economic activity is the harder challenge.’

To maximise impact, experts recommend stronger coordination between monetary and fiscal policy, sustained structural reforms, and measures to boost productivity and expand access to finance.

The CBN’s latest decision is, therefore, both symbolic and strategic-a signal of intent to shift toward growth, attract investment, and align Nigeria’s monetary direction with global realities.

By easing rates, the CBN has set the tone for a new phase in Nigeria’s monetary policy journey-one that prioritizes growth without losing sight of stability. It is a reflection of confidence in recent macroeconomic gains and an acknowledgment of the need to stimulate domestic investment and job creation.

Whether this strategy delivers tangible outcomes will depend on execution, structural reforms, and policy coherence.

As Tilewa Adebajo aptly summarised: ‘Nigeria is finally moving in step with the global orchestra of monetary easing. The challenge is ensuring that this harmony produces real, inclusive, and sustainable growth.’

For now, investors and businesses are watching closely. The CBN’s latest move could mark the beginning of a more balanced, forward-looking era in Nigeria’s monetary management-one that seeks to restore confidence, deepen markets, and unlock the country’s long-term growth potential.

The reforms by the administration of Governor Lucky Orimisan Aiyedatiwa have been praised as Ondo State is fast shedding its old image as a civil service-dominated economy and emerging as one of Nigeria’s most promising business and investment destinations.

The Commissioner for Information and Orientation, Hon. Idowu Ajanaku, made this known in Akure while highlighting the government’s multi-sectoral efforts aimed at transforming the state into a vibrant economic hub through the OUR EASE Agenda.

Ajanaku explained that the state’s transformation is anchored on strategic investments in infrastructure, power, agriculture, tourism, and revenue generation, all of which are repositioning Ondo State for sustainable growth and investor confidence.

The Commissioner commended the Ministry of Energy and Power for its remarkable progress in improving electricity access and reliability across the state.

According to him, the distribution of over 13,000 prepaid meters to residents and small business owners has drastically reduced estimated billing, enhanced transparency, and boosted the confidence of investors.

He further noted that the Ondo State Power Company (OSPC) has intensified regulatory oversight and coordination with distribution companies to ensure stable power supply. This, he said, has led to increased productivity and expansion for many small and medium-scale enterprises (SMEs), creating a new wave of business optimism across the state.

‘Regular electricity supply is the backbone of industrial development, and Governor Aiyedatiwa’s administration understands this clearly. The renewed energy policy and the state power company’s efficiency are already driving business growth,’ Ajanaku added.

The Commissioner also commended the Ondo State Internal Revenue Service (ODIRS) for its excellent drive and dedication in boosting the state’s Internally Generated Revenue (IGR).

He said ODIRS has improved revenue collection systems through digital innovation, tax education, and transparent operations – strategies that have strengthened the state’s fiscal capacity to fund infrastructure and social projects.

‘The IGR drive has not only increased the state’s financial independence but also built public confidence in government accountability and service delivery,’ Ajanaku emphasised.

Ajanaku described infrastructure as a cornerstone of the Aiyedatiwa administration’s economic policy. He listed several ongoing road projects including the Ikare-Akungba dualization, Akure-Idanre dualization, Okitipupa-Igbokoda road, flyover bridge on Akure – Ilesa expressway and multiple internal road rehabilitations as evidence of the government’s commitment to ease movement and business accessibility.

He further mentioned Araromi-Lekki road, which will link Ondo directly to Lagos, significantly expanding trade, logistics, and tourism opportunities if completed.

‘When these infrastructure projects are completed, Ondo will naturally attract industries, logistics companies, and investors seeking a business-friendly location between the South-West and South-South corridors,’ he stated.

He also spoke on the forthcoming Port Ondo project, describing it as a ‘game changer’ that will open up new frontiers in maritime trade, logistics, and industrialization.

Highlighting the state’s vast agricultural potential, Ajanaku reiterated that Ondo remains Nigeria’s leading cocoa producer and the second largest in West Africa. He said the government is strengthening value addition and agribusiness investment to create jobs and boost export revenue.

In tourism, he announced the government’s approval for the revival of the annual MARE Mountain Climbing Festival in Idanre, scheduled for December, which will further stimulate the local economy and attract investors through public-private partnerships.

Hon. Ajanaku concluded with a confident appeal to both local and foreign investors to take advantage of the state’s ongoing transformation.

‘Ondo State is ready for business. We have the resources, strategic location, power stability, and transparent governance that investors are looking for. The Aiyedatiwa administration is determined to turn Ondo into Nigeria’s next business hub.’

The Pan-African Regulatory Excellence Forum (PAREF) has commended the appointment of Gbenga Komolafe, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as the interim chairman of the newly launched African Petroleum Regulators Forum (AFRIPERF), describing it as a ‘fitting recognition of Nigeria’s reform leadership in the oil and gas sector’.

In a statement signed on Monday by its executive director, Dr Aisha Njoroge, PAREF said Komolafe’s emergence reflects Africa’s growing confidence in Nigeria’s regulatory reforms and its capacity to drive a new era of collaboration across the continent’s petroleum industry.

AFRIPERF, inaugurated during the Africa Oil Week in Accra, Ghana, on September 18, 2025, brings together petroleum regulators from 16 African countries, eight of which – including Nigeria, Ghana, Gambia, Madagascar, Sudan, Guinea, Togo, and Somalia – have already signed the forum’s charter.

The body aims to harmonise oil and gas laws, standards, and compliance systems across Africa, addressing decades of policy fragmentation that have discouraged cross-border investment and weakened collective bargaining power in global markets.

PAREF described Komolafe’s appointment as ‘a vote of confidence in reform-driven leadership and Nigeria’s commitment to transparency and innovation’.

‘The emergence of Gbenga Komolafe as interim chairman of AFRIPERF is a significant step for Africa’s energy governance. It validates Nigeria’s post-PIA reforms and offers a rare opportunity to convert the rhetoric of regional cooperation into measurable outcomes,’ the statement read.

Dr Njoroge said the forum must demonstrate early credibility by focusing on harmonisation of gas measurement standards, emissions regulations, digital compliance systems, and transparent reporting templates for oil and gas production.

‘The success of AFRIPERF will not depend on how many countries join, but on the quality of what it delivers. The continent cannot afford another bureaucratic platform. AFRIPERF must be a practical institution that strengthens efficiency, transparency, and environmental responsibility,’ she said.

According to PAREF, Africa’s oil-producing nations currently operate under widely differing fiscal regimes, licensing procedures, and environmental standards; challenges that have limited intra-African trade and created inefficiencies in investment management.

The think tank said the establishment of AFRIPERF under Komolafe’s leadership presents an opportunity to address these gaps and position Africa as a more coordinated bloc in global energy diplomacy.

However, PAREF warned that the success of the initiative will depend on inclusivity and independence from political interference.

‘Regulatory convergence should not become regulatory domination. Smaller or less-resourced countries must not be sidelined. Every member must have an equal voice in the decision-making process if the forum is to maintain legitimacy,’ Njoroge cautioned.

She also raised concerns about capacity disparity among African regulators, noting that while some countries have digitised regulatory systems and robust data monitoring frameworks, others still rely on manual audits and outdated infrastructure.

‘AFRIPERF must create mechanisms for shared learning and resource pooling. Without a plan for cross-border training and knowledge exchange, the forum may inadvertently deepen existing inequalities,’ she added.

On financing, PAREF advised that the forum should adopt a transparent and sustainable funding model, avoiding overdependence on donor agencies.

‘AFRIPERF’s independence is crucial. While partnerships with development institutions may help, Africa’s regulatory destiny must be defined by African priorities, not external agendas. Member states should fund the forum equitably and transparently,’ the statement said.

Dr Njoroge said Komolafe’s track record at NUPRC – particularly his focus on data transparency, digital licensing, host community development, and anti-theft monitoring systems – makes him ‘uniquely qualified’ to lead the continent’s regulatory convergence effort.

She added that Nigeria’s Petroleum Industry Act (PIA) reforms of 2021 had already positioned the NUPRC as one of Africa’s most advanced energy regulators, providing a model that AFRIPERF could replicate.

‘With Mr. Komolafe’s experience, Africa now has a chance to build a truly harmonised petroleum regulatory framework that supports energy transition, economic diversification, and shared prosperity,’ she said.

The forum urged African governments to support AFRIPERF’s agenda and to ‘seize this moment to build a united front in global energy governance’.

‘Africa must speak with one voice. Komolafe’s leadership offers the credibility, but the continent must now provide the political will,’ Njoroge advised.

The Minister of Education, Dr Tunji Alausa, has reaffirmed the Federal Government’s commitment to repositioning the country’s education system to meet the demands of the digital economy and align with global best practices.

He gave this assurance in Lagos during the official launch of the Digitalisation of Public Schools Initiative and the flag-off of the distribution of interactive smartboards at Queen’s College, Lagos, on Friday.

No fewer than 800 of the digital boards have already been distributed to some public schools across the country.

The scheme will cover both federal government colleges and state-owned secondary schools, even as the smartboard distribution exercise is part of a long-term plan.

According to the minister, the Digitalisation of Public Schools scheme aims to ensure that every child, regardless of background, has access to quality and technology-enabled learning.

Alausa stated that the introduction of smartboards would gradually phase out traditional chalkboards, which promote one-directional teaching and learning across public schools in the country.

He said the shift would make teaching and learning more dynamic, interactive, and technology-driven, allowing students to engage and explore more effectively.

The minister pointed out that the smartboards would enable teachers to integrate multimedia, digital textbooks, and real-time interaction into their lessons, while learners would go beyond listening to touching, exploring, and engaging.

The initiative seeks to strengthen the country’s basic education system, empower teachers with innovative instructional tools, and improve learning outcomes.

To foster innovation, the minister also announced plans to establish Science, Technology, Engineering, Mathematics, and Medicine (STEMM) as well as Technical and Vocational Education and Training (TVET) centres nationwide.

He said this step would be taken in partnership with various state governments and the Science Teachers Association of Nigeria (STAN) to build capacity for STEMM educators, promote inquiry-based learning, and expand teacher digital literacy and EdTech training to make classrooms smarter and teachers more effective.

Also speaking, the Executive Secretary of the Universal Basic Education Commission (UBEC), Aisha Garba, underscored the significance of the initiative, describing it as a clear demonstration of the government’s resolve to bring technology directly into the classroom.

She observed that with smartboards, teachers would be able to integrate multimedia content, simulations, and real-time feedback during lessons, while pupils could interact more actively.

She noted that this reflects the evolution of education in today’s technology-driven economy, where education is no longer a mere process of instruction but an experience of discovery.

According to her, through digital tools such as smartboards, tablets, and online content, learners will have access to quality learning opportunities that meet global standards.

Garba, however, called on stakeholders-especially corporate organisations and individuals-to support the project, stressing that the government alone cannot achieve the vision of bringing digital learning to all public schools.

She noted that UBEC also has other plans to strengthen the country’s basic education system, identifying digital capacity building for teachers and the development of localised digital learning content as key priorities.

Speaking on the initiative, the Lagos State Commissioner for Basic and Secondary Education, Mr Jamiu Alli-Balogun, described it as a significant milestone in the government’s quest to bridge the digital divide by ensuring that every child, regardless of socio-economic background, has access to digital tools for quality education.

He noted that Lagos State prioritises digital learning as well as technical and vocational education, as embedded in the T.H.E.M.E.S Plus Agenda of the current administration.

He said the state government believes that every child has the right to acquire the necessary skills to become more creative, inventive, and solution-oriented as they grow into adulthood.

He added that the introduction of interactive smartboards in public schools would revolutionise the way teachers teach and students learn, making lessons more effective and engaging, and learners more inquisitive and interactive.

The step, he said, will help the country achieve its goal of producing well-rounded and globally competitive citizens.

Alli-Balogun commended UBEC for its efforts in promoting basic education across the country and also lauded development partners for their collaboration in supporting the agency’s initiatives.

He urged the intended users of the smartboards to make good use of the tools.

Rajatoto88 is one such name that has made a big impression in Indonesia’s slot gaming scene. Many players now see it as a trusted and friendly place to enjoy slots without spending too much.

Let’s look at how Rajatoto88 gained this position and why 10K deposit players love using it.

A Friendly Start for All Players

One of the main reasons rajatoto88 attracts so many users is its low deposit option. Players can begin with just 10K, which makes it easy for anyone to join without worrying about high amounts.

This small deposit feature makes the platform more welcoming, especially for beginners or those who want to play casually. It gives everyone a chance to experience the fun of slot gaming while staying comfortable with their budget.

This 10K deposit option also shows that Rajatoto88 values inclusivity. It’s not just a site for big spenders but for all players who want to enjoy a fair and exciting gaming environment. Starting small, testing games, and growing confidence gradually has become a natural way for many users to play here.

Huge Selection of Quality Slot Games

Another reason behind Rajatoto88’s growing popularity is its wide range of slot games. The site offers hundreds of titles from trusted global providers, which means players can explore many game styles from classic fruit machines to modern themed slots. The graphics are sharp, the animations are smooth, and the gameplay feels satisfying even on mobile devices.

Because of these quality games, players never feel bored. There’s always something new to try, and every theme feels special. Whether you like adventure, fantasy, or cultural designs, Rajatoto88 has something that fits your taste. The site makes sure that the fun continues every time you log in.

Fast and Simple Payments

For Indonesian players, payment convenience is important. Rajatoto88 supports several fast and secure payment methods, including digital wallets and local banking options. Depositing 10K or withdrawing your winnings can be done quickly without unnecessary steps.

The system is simple and reliable, which means players can focus on playing rather than worrying about transactions. This ease of use adds comfort and trust, especially for those who want a smooth experience from the first deposit to the last spin.

Safe and Transparent Gaming

Fairness and safety are two things players always care about, and Rajatoto88 understands this well. The platform maintains transparency by showing accurate return rates (RTP) and ensuring that every slot game runs fairly. The random number system makes sure every spin has an equal chance, giving players confidence in their play.

For 10K deposit players, this fairness is especially meaningful. It means their small deposits are treated seriously and that everyone has a fair shot at enjoying the rewards. Rajatoto88’s honest and open approach has helped it earn trust among thousands of users across Indonesia.

Mobile-Friendly and Easy to Use

Rajatoto88’s platform works perfectly on smartphones and tablets, which is a big plus for today’s players. You don’t need to install special apps or follow complicated steps. Everything runs directly from your mobile browser, giving you access to all games anytime, anywhere.

The website’s design is clean and simple, making it easy for players to navigate even if they are new to online gaming. From registration to choosing your favorite slot, everything feels effortless and fast.

Excellent Customer Support

A friendly and responsive support team makes all the difference when players need help. Rajatoto88 provides 24/7 customer service to make sure players can get assistance whenever needed. Whether it’s about deposits, withdrawals, or understanding game rules, the team responds quickly and politely.

This level of support builds strong trust among users. It gives them peace of mind knowing that help is always available. For new players starting with 10K deposits, such support creates a comfortable and reassuring gaming environment.

Exciting Promotions for Every Player

Bonuses and promotions play a big role in keeping players happy, and Rajatoto88 offers plenty of them. The platform regularly provides welcome bonuses, cashback offers, and free spins that suit all types of players. What makes these offers special is that even small deposit players can enjoy them without feeling left out.

The promotions are fair, clear, and designed to give extra fun rather than confusion. This balance between reward and simplicity keeps the gaming experience positive and exciting. Players appreciate that they can get bonuses even with smaller deposits, which adds more joy to the overall experience.

Positive Reputation and Word of Mouth

Rajatoto88’s rise to popularity didn’t happen overnight. It grew steadily through word of mouth and positive reviews from satisfied players. People who had good experiences shared their stories, encouraging others to join.

Many players mention how smooth the platform feels, how fast the payments are, and how enjoyable the games look and sound. These small but consistent details help build Rajatoto88’s good name in Indonesia’s gaming community.

Continuous Improvements for Players

One of the key reasons Rajatoto88 continues to stay ahead is its willingness to improve. The team behind the site regularly updates its game selection, enhances security, and adds new features to make things even better for users. By paying attention to what players like and need, Rajatoto88 shows that it truly values its community.

As trends change and technology advances, the platform continues to stay modern and easy to use. This forward-thinking attitude helps Rajatoto88 maintain its strong position among Indonesian slot sites.

Final Thoughts

Rajatoto88 has become a top choice for 10K deposit slot players in Indonesia because it offers fairness, accessibility, and fun all in one place. Its low deposit option welcomes everyone, its wide range of games keeps players excited, and its secure, fast transactions make the experience worry-free. Add to that strong customer support and rewarding promotions, and it’s easy to see why so many players enjoy spending time here.

Despite the environmental implications like air pollution and climate change, among others, many Nigerians are resorting to the use of charcoal and firewood as alternative fuel.

This is not unconnected to the surge in the price of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, which has hit N1,500 per kilogramme in some locations in Lagos.

Apart from the price hike, many gas stations have refused to open shops, while some are doing skeletal services, thereby creating artificial scarcity and giving room for vendors to make brisk business out of the situation.

From Oshodi to Ikeja, Mushin, Agege, Iyana Ipaja, Ogba, Abule Egba and Ayobo, among other locations, Lagos residents have different stories to tell about the surge in price and scarcity of cooking gas in their localities.

Speaking with the Nigerian Tribune, some of the residents said they bought cooking gas at the weekend between N1,100 and N1,500 per kilogramme.

Mrs. Titi Adekunle, a trader who resides in Ogba, Lagos, said she just bought two small charcoal pots at N15,000 and N20,000 respectively following the scarcity of cooking gas in the neighborhood.

She said that the charcoal pot she bought at N15,000 jumped to N20,000 three days after due to popular demand for the product.

She bemoaned the unnecessary scarcity and struggle for cooking gas by Nigerians, describing the situation as ‘shameful,’ despite the abundant gas resource in the country.

‘It is not that my cooking gas has finished, but the anxiety that if it finishes, where we will refill influenced my decision to buy the charcoal pots to support the gas cylinder,’ she said.

Another resident in Ojodu, Berger, John Adewale, lamented the high gas price in the vicinity, saying he refilled his 12kg gas cylinder for N30,000, which is N2,500 per kilogramme instead of N1,200 per kg in early September.

Another person, a beans cake (akara) vendor who identified himself simply as Kenneth, said that for some of them who could not afford the current cooking gas price, especially the low-income earners, charcoal and firewood have become the solution.

According to him, with N200 or N250, one could purchase small quantities of charcoal for cooking. He added that one could also get firewood for between N500 and N1,000 from sellers nearby.

A charcoal dealer in Ogba and Agege, Mrs. Anifowose, said that a bag of charcoal costs between N12,000 and N15,000 currently, adding that one could get half a bag for between N6,000 and N7,500 depending on the location.

Also, bread bakers and producers of meat pies are lamenting the situation, threatening to increase prices of their products if the cooking gas price hike persists.

Until recently, many Nigerians assumed the price surge was due to another government-approved increase.

But according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), there has been no official adjustment in the cost of cooking gas.

The sudden spike, officials say, is linked to a recent strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), which disrupted supply.

Also, the National President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Oladapo Olatunbosun, attributed the price surge to temporary supply disruptions.

‘What is happening is that some marketers are taking advantage of the shortage in supply and market forces that have increased demand. They are cashing in to make quick money, which is wrong,’ Olatunbosun said on a television show.

He assured that the situation is artificial and temporary, and that normalcy is expected to return within days.