Category: Nigerian Tribune

One, was the brief socializing with the free-spirit Osun governor, Jackson Adeleke. The president, as seen in the video was bantering with the PDP governor, blocked by Osun APC from joining the President in the ruling party in the spirit of the southern coalition being coupled by the Nigerian leader, to smoothen his reelection. In what was obviously a friendly poke, the President while shooting for a handshake, quipped ‘ijonko o’ (how is dancing), an unveiled reference to the governor’s penchant for regular display of his dancing dexterity, despite his size, which makes his usual energetic ‘moonwalk’ a rich spectacle. Not one to let such affability go to waste, he, while bowing to take the President’s offered handshake, replied with unmissable flourish; ‘ijowadaada sir’ (dancing is great sir). That brief exchange should reinforce to Osun APC stalwarts that their leader in Abuja has a soft spot for the one they don’t want in Osun. May God help the state opposition if Jackson moonwalks over them to re-election next year. That would be the political end of many current leaders of Osun APC. To stand a chance of proving to their Abuja leader whose body language has shown that he would prefer the incumbent Osun governor as a member of the Progressive Governors (like Delta, Akwa-Ibom and likely Rivers), Osun APC leaders must get the nomination right by going for the aspirant with consolidated voting base like the incumbent. Until Borno State caught up with Osun days back, as the highest-netting in fishing new voters, Adeleke’s Osun West was topping nationally, an undeniable proof of his get-out-the-vote groundwork.

It shows a man who is ready.

Kano, another huge-voting state is mirroring Osun, though its political climate isn’t yet as crystal. President Tinubu no doubt, covets the vote-sweeping influence of former governor and NNPP lord, Rabiu Kwankwaso who was also at the Ibadan event and whose attempt at drawing the attention of the Nigerian leader also created another Tinubu moment. A viral video showed the President security team initially bouncing him off the periphery of the President’s perimeter as he (Tinubu) arrived the Mapo Hall venue but before he could be roughened up, the President signalled he should be allowed access to him.

By any measure and every standard, Kwankwaso is a heavy-hitter in Nigerian political firmament and holds joint-record with AyodeleFayose and KayodeFayemi, both of Ekiti State, of non-consecutive gubernatorial second term. He is also the 2023 presidential candidate with the largest votes from a state; his Kano State, creaming almost a million votes at a go. He had been minister of defence and currently governs Kano, the largest voting state of 2023 poll, through his son in-law, incumbent Governor Abba Yusuf. So there is no way the Kano strongman is unknown to the President security team and in many public fora, Tinubu, before and when he came into office, had acknowledged Kwankwaso a friend. So what went wrong? It is in public domain that Kwankwaso is open to a return to APC, potentially to help re-elect his friend and possibly position himself for an enhanced 2031 run when power is expected to return to the North. President also wanted him. But there is AbdullahiGanduje alongside other Kano APC big men in the middle, like Osun APC leaders, reportedly standing against having their former leader and his hand-held governor back in the fold, where Governor Yusuf will become the de jure leader, and his father in-law; Kwankwaso, the de facto leader.

Unlike Osun where the President reportedly agreed that Adeleke and APC leaders should first test might in next year gubernatorial poll to know who should lead his coalition in the state ahead of 2027, Tinubu, according to his orbit had done a lot to assure Kwankwaso of his commitment to their partnership if he returns to the APC fold for him, including having to painfully pinch Ganduje. But the Kwankwasiyya leader has been allegedly irresolute, constantly shifting his conditions to meet before decamping. Weeks back he went public in the media space with his desire and conditions, with the President reportedly souring on him and deciding to look elsewhere for solutions to his Kano deficits, notably the 2023 gap of 419,938 votes between him in second place and Rabiu in the lead.

When security begin to bounce someone who used to have access to their principal, words must have definitely gone around and about. The Ibadan scenario looks like using the right hand to pull a naughty child’s ear and using the left to rub the back of his head. Did RMK get the message?

Then there was the BAO snub at the Ibadan airport where attending governors formed a beeline to welcome the Nigerian leader. Pray, why is the President resorting to public snub and its attendant opprobrium to manifest his discontent towards his allegedly errant party governors, especially those of Yoruba extraction?. First it was the Lagos man, Babajide Sanwoolu who the President refused to acknowledge and greet during the controversial commissioning of a portion of Lagos-Calabar highway on May 30 this year. The President is from Lagos and was governor of the state like Sanwoolu between 1999 and 2007. By standing up to then-President Olusegun Obasanjo of then-ruling PDP, he gave the governor’s seat character, elan and respect. Though they later made whatever was between them up eight days after through the intervention of the nebulous GAC, the incumbent had been served as they say. It’s doubtful if a swashbuckling Governor Tinubu of his time and term in Lagos would have peacefully resolved such public shaming with any president whether of his party or from the opposition.

BAO, arrayed from his names, is the political sobriquet of the 57-year-old Ekiti governor, Biodun Abayomi Oyebanji. Married to a professor, the governor has been practically what anyone aspiring at Ekiti level could be, including serving as the secretary of the Falegan committee that made the creation of the state possible. It is just fitting that he leads the state he helped create. He should also be allowed to lead as he deems right and if found wanting, his reelection fate should be left for Ekiti electorate to determine. Period.

Before the Ibadan debacle, I had heard from power corridors in Abuja things weren’t well between the Governor and the President who is also the national leader of their party. While BAO has been variously judged average and even below average in governance delivery, his problem with Abuja was said to be mainly political and just like the Sanwoolu situation, the President gave a public confirmation to the behind-the-curtain muttering that Oyebanji is no longer a ‘son’ in whom he is well pleased. At the airport reception, the President walked past him as if he didn’t exist despite his three-piece white agbada ensemble, standing at the head of the line of other governors and dignitaries. The security just moved in-between them as the President looked away and straight, unlike the Kwankwaso case later when the Nigerian leader rescued the Kano fellow from his security who appeared to be following strict orders.

Oyebanji’s alleged sins are mainly political and the constitution covers freedom of association. If President Tinubu as APC national leader thinks Oyebanji is derailing from the vision of the party, there are better ways of reining him in or keeping him out permanently without resorting to embarrassing his person, for fleeting political power. Yes I know people can bone (naija street lingo for snub) offending beloved, as a way of expressing disavowal so they come bearing repentance and desiring forgiveness but even for Trump the ruffler, there are acts that won’t be presidential. Add to the fact the President is a Yoruba elder who shouldn’t be handling the proverbial festival like a teen (agbakinseoro bi ewe).

Like President Tinubu, the two governors, publicly humiliated over if I heard right, alleged acts that he himself would endorse as survival politics in his days in the thick, wild forest of politics, are Yoruba. While he is definitely older than both, respect should be reciprocal. And I ask, is it only South West APC governors that are overreaching in the President’s estimation? Will the President treat Northern APC governors this way regardless of political sin? Did ordinary palace guards of a Northern emir not break down doors in utter disregard for established protocol to let their lord into an event where the President was already seated? Whoever sells his own short will pay heavily for outsiders.

If the public smackdowns are the President’s way of settling scores especially with governors who he would not be able to monitor directly on election day, then he risks a situation Yoruba will describe as bottling the crimson inside while spitting out bright saliva. It is dangerous when people play along. If you see my hand you can’t see my mind situation. Whenever I see Governor Sim smiling the President into superlatives. a Yoruba adage is always jumping at me; ‘onikun lo mero’. Won’t interpret.

When you need to make others feel small for you to feel big, it is the highest manifestation of inner weakness. Dishing to others what you can’t take is against divine rule of do unto others as you want others do to you. Why publicly disgracing someone who has come to honour you?

The latest presidential humiliation is two too many. If the President is this way in the public, how toxic can things get with him in private when displeased, considering how he has been making grown men feel very small in full glare because he wanted everybody on board his re-election plans. The tortoise in-laws, even when rightly wronged, will always carry the shame of doing too much to shame their offending son-in-law. Haba! Kilode!

THE Dean of Student Affairs at the Federal University of Agriculture, Abeokuta (FUNAAB), Professor Festus Adeosun, has urged students to go beyond academic certificates and embrace entrepreneurship as a pathway to self-reliance and national development.

Prof. Adeosun, a former Director of the Centre for Entrepreneurial Studies (CENTS), gave the charge during the YouWin Enterprise Education programme for tertiary institutions, held at the College of Environmental Resources Management (COLERM) Auditorium.

He observed that while a university degree remained valuable, the knowledge, skills, and experiences gained during campus life were the true determinants of future success.

‘The current realities of youth unemployment in Nigeria demand creativity, resilience, and innovation. Students must look beyond certificates and embrace entrepreneurial opportunities that would position them as job creators rather than job seekers,’ Adeosun stated.

Earlier, the Vice Chancellor, Prof. Babatunde Kehinde, reaffirmed FUNAAB’s commitment to nurturing students beyond academics, stressing that the institution was determined to prepare them for self-reliance in today’s competitive economy.

He commended the choice of FUNAAB as host of the programme, describing it as a timely platform to empower students with practical entrepreneurial skills.

Giving an insight into the programme, a representative of the Federal Ministry of Finance, Mr Lampo Ibrahim, explained that YouWin Connect was a youth-focused initiative designed to support small businesses and foster entrepreneurship nationwide.

He noted that the scheme, which also extends to National Youth Service Corps (NYSC) camps and other tertiary institutions, was created to provide Nigerian youths with access to funding and business development opportunities.

According to him, the core aim of YouWin Connect is to inspire young people to develop business ideas, grow them into sustainable enterprises, and reduce dependence on formal employment. He advised students to take advantage of the initiative and build ventures that would secure their future and contribute to national economic growth.

Highlighting practical pathways to business funding, Ibrahim identified four major sources available to aspiring entrepreneurs as friends and family, non-governmental organisations (NGOs), government agencies, and the private sector.

He underscored the role of NGOs in complementing the government’s efforts to reduce unemployment and urged students to uphold integrity and accountability in the use of funds secured through such programmes.

Referencing the Federal Government’s publication, Successful Nigerian Entrepreneurs, Ibrahim noted that financial struggles were often not due to lack of formal education but poor financial literacy. He, therefore, encouraged students to embrace entrepreneurial training and prudent financial management as essential life skills.

Since her return from rehab, the delectable ex-wife of 2Face Idibia, Annie, appears to have found her rhythm again.

At a time when her former husband is battling controversy over his aborted London show, Annie chose a different path, one that speaks volumes without saying a word.

The actress took to Instagram to share a short video of herself grooving to music, exuding confidence and joy.

For many of her followers, it was a quiet but striking response to the noise surrounding 2Face’s latest troubles.

While social media has been abuzz with allegations, denials, and heated debates about why the London performance was postponed, Annie seemed intent on distancing herself from the chaos.

Her clip, filled with smiles and carefree vibes, sent a subtle message: she is moving on with her life and paying little attention to the storm.

The post drew warm reactions from fans who applauded her strength and praised her for refusing to be dragged into her ex’s current travails.

Others, however, were quick to link the timing of her video to 2Face’s controversy, suggesting it was a pointed way of showing that she has fully embraced life after their separation.

Annie, who has often been at the center of headlines due to her turbulent relationship with the singer, seems determined to chart a new course for herself.

Her latest post may not mention 2Face directly, but its timing and tone have been interpreted as her own way of reclaiming the narrative.

The Council of HND Holders for the Advancement of Polytechnic Education in Nigeria (COHAPEN) and the National Association of Polytechnic Students (NAPS) have praised the Industrial Training Fund (ITF) for the prompt payment of Students Industrial Work Experience Scheme (SIWES) allowances to students in tertiary institutions across the country.

They also commended the Director-General of ITF, Dr. Afiz Oluwatoyin Ogun, for transforming the organization into one that prioritizes transparency, innovation, and service delivery since assuming office in 2023.

In a joint statement signed by the National Chairperson of COHAPEN, Mrs. Confidence Adaeze Godwin, and the Vice President of NAPS, Comrade Aliyu Omotayo Yusuf, the groups said:

‘Dr. Ogun has redefined the ITF into a hub of innovation, transparency, and people-oriented service delivery.

He has also institutionalized transparency through open bidding for projects and a strong emphasis on local content promotion,’ the statement noted.

The groups added: ‘As part of his commitment to students’ welfare, Dr. Ogun inaugurated a SIWES Committee to digitalize the disbursement process and ensure allowances are paid promptly and transparently.

In 2023 alone, the ITF disbursed ?1.1 billion in SIWES allowances – ?733 million to university students, ?233 million to polytechnic students, and ?72 million to colleges of education students.

This intervention directly touched thousands of young Nigerians undergoing industrial attachment.’

According to the statement, the ITF has also launched the Model Staff School Skill Academy in Jos – a pilot programme that combines formal education with hands-on vocational training.

‘In the academy, students from JSS1 and SS1 will undergo skill sessions on weekdays and weekends while pursuing WAEC/NECO and international certifications.

The programme features a Career Day every September, incubation opportunities for small businesses, and entrepreneurship training for parents to make families both skilled and enterprise-driven.

ITF has announced plans to replicate this model across all six geopolitical zones, free of charge.’

On other initiatives, the statement highlighted that under the Skill-Up Artisans Programme (SUPA) of the Renewed Hope Agenda, ITF secured accreditation from the City and Guilds of London (UK) as an examination centre.

‘This milestone provides Nigerian artisans international certification, with three clear pathways: Talent Export for global opportunities, Local job integration, and Business incubation for entrepreneurship,’ it added.

The statement also commended the ITF leadership for reviving neglected skill centres across the country.

‘In Epe, Lagos, he received the Agbowa Vocational Centre on behalf of ITF, while also initiating plans to restore the Skill Acquisition Centre in Borokini, Ikorodu.

These efforts form part of his campaign to ensure no skill centre is left behind, transforming existing facilities into hubs for empowerment and poverty reduction.’

After a shocking eviction from the Big Brother Naija Season 10 house, ex-housemates Rooboy, Mide, Sabrina and Zita were asked to pick who they think will emerge winner and claim the N120 million grand prize on Sunday.

Responding in an interview with Tribune Online, Rooboy, known for his energetic and main character personality of the house, gave a split prediction, saying: ‘Koyin, but for in-time, Imisi.’ His response sounded like he was rooting for both housemates.

Mide was more direct, stating: ‘I think Imisi stands a chance of winning.’

Sabrina, who exited the house in week 3 due to health reasons, mentioned her bestie and considered Imisi as a strong contender for the big prize.

‘Kola my bestie for sure, and I’m also rooting for Imisi,’ Sabrina told Tribune Online.

Zita, who was a two-time Head of House in Biggie’s house, placed her bet on Imisi while also sending best wishes to others.

She said, ‘I think Imisi will win. She has her chill moments. Goodluck to Dede and Kola.’

When asked if they had thought about Imisi winning while still in the house, both Sabrina and Zita replied in affirmative. Zita further explained that Imisi brought the drama.

‘She was interesting, she brought the drama, and she’s a cool person, why not?,’ Zita added.

Tribune Online reports ahead of the final day (Sunday), Faith was disqualified on Thursday by Big Brother over physical violence with Sultana in the house.

Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has reaffirmed the Commission’s commitment to deepening transparency, bolstering investor confidence, and aligning Nigeria’s capital market with international best practices in financial reporting and sustainability disclosure.

Dr. Agama said the SEC’s transition to market-to-market (MTM) valuation of assets represents a major step in ensuring fair value reporting and enhancing investor trust across the market.

He explained that the policy was designed after extensive consultations with market operators and would be implemented in phases to allow for smooth adaptation.

‘Timelines have been carefully considered, especially with the concerns being raised by market participants,’ Agama stated in an interview at the weekend.

‘For us at the SEC, it is important that while we introduce new regulations, we also listen to the market and find a common ground that allows everyone to move forward,’ Agama added.

According to him, the October 2, 2025, deadline for the submission of implementation plans will enable the Commission to assess the readiness of institutions, while September 2027 remains the target for full transition to IFRS 9 standards.

‘Requesting implementation plans is not a bureaucratic exercise,’ Agama clarified, explaining that ‘It is to gauge institutional capacity, identify challenges, and ensure all operators move in the same direction toward compliance.’

He explained that while equity funds in Nigeria are already reported at fair value, the new policy specifically addresses gaps within the fixed income segment of the fund management industry.

‘Nigeria has come of age, and we must do things according to global standards. IFRS 9 requires market-to-market valuation of assets, and we cannot be left behind among the community of nations,’ he said.

Dr. Agama emphasized that the reform would make Nigerian assets more globally comparable, allowing investors to better assess market performance and risk.

‘Our goal is to create a market that is internationally competitive. Adopting IFRS 9 enables compatibility among assets across borders and firmly positions Nigeria within the global investment ecosystem,’ he stated.

Responding to concerns that market valuation could heighten short-term volatility, the SEC chief assured investors that the reforms were designed to strengthen, not destabilize, the market.

‘Some have expressed concerns about volatility, but our intention is not to disadvantage investors. Over time, as the market adjusts, transparency will drive long-term confidence,’ he noted.

Beyond IFRS 9, the SEC is also championing Nigeria’s early adoption of the International Sustainability Standards Board (ISSB) framework, which provides guidelines for climate and sustainability disclosures. Dr. Agama disclosed that Nigeria ranks among the first countries in Africa to embrace and begin implementing the ISSB standards.

‘We pride ourselves on being first movers. However, we are also mindful of local realities. We are taking a gradual, balanced approach so that companies are not unduly burdened,’ he said.

He explained that the Commission’s goal is to implement standards that attract capital rather than restrict it, ensuring that reforms drive sustainable growth.

‘We will not implement standards that will lock companies out of access to funding. Our aim is to open the door to capital and promote long-term investment,’ he affirmed.

Looking ahead, Dr. Agama expressed optimism about the market’s outlook for the final quarter of 2025, citing macroeconomic reforms and the enactment of landmark legislations such as the NIIRA 2025 and ISA 2025 as catalysts for investor confidence and market stability.

‘Markets thrive on stability. With the micro- and macroeconomic reforms being championed by President Bola Ahmed Tinubu, the market is positioned for significant expansion. The NIIRA 2025 Act is a game changer that provides the framework for sustainable growth,’ he stated.

Dr. Agama said that the SEC’s ongoing reforms, including the IFRS 9 transition and adoption of sustainability standards, form part of a broader agenda to globalize Nigeria’s capital market, enhance regulatory transparency, and foster inclusive wealth creation.

‘We are on a path of progress. The President’s reform agenda is already taking shape, ensuring that Nigeria’s capital market becomes a global reference point for transparency, investor confidence, and good governance,’ Agama added.

Sample 1: ‘If Bola Ahmed Tinubu eventually becomes Nigeria’s next president, there is every possibility that he would entertain and address the complains of the Yoruba nation agitators.’ (Opinion: How Tinubu’s emergence as APC flagbearer may reduce.Opera News, 21 June, 2022)

Let’s note the word complains which occurs in the following context: ‘he would entertain and address the complains of the Yoruba nation agitators.’ The slot in which the word occurs certainly belongs to a noun. But is the word (complain) a noun? Not at all. Here lies the problem. The form is not a noun but a verb. The noun form is complaint. We now devote attention to illustrating the usage of the verb (complain) and the noun (complaint).

Now read the following sentences: 1) You cannot complain because you partly created the problem. 2) The man complains too often about food but he hardly gives his wife enough money for domestic matters. 3) Nigerians don’t want to pay taxes but complain about poor infrastructure. 4) Western nations often complain about the Nigerian democratic culture forgetting their sordid influence on our history. 5) You have a right to complain and we also have a right to ask you for a better alternative. 6) I would rather complain openly than grumble and backbite. 7) Christians are not to complain about their leaders. Rather, they are to pray for them and, where possible, counsel them. 8) Customers are already complaining about the reduction in the quality and quantity of our products. 9) Students have been complaining about poor quality of instruction. 10) The followers who complain too much about their leaders may lack leadership qualities. 11) Are you surprised that some people complain about God?

The noun form is complaint: 1) Your complaints are usually baseless. 2) The committee members will not entertain frivolous complaints. 3) All petitions and complaints must be accompanied by supporting documents. 4) The woman says she is sick and tired of her husband’s unending complaints about almost everything. 5) I have stopped complaining since my complaints have yielded no positive results. 6) We have lodged a formal complaint against the accountant regarding delay in payment of salaries. 7) The leaders will be forced to act when the complaints are becoming too frequent. 8) Your complaints are being addressed by appropriate authorities. 9) You should not allow your complaints to degenerate into insubordination. 10) Your complaints must be devoid of bitterness, hostility and hatred. 11) Their complaints have nothing to do with money. 12) Repeated and habitual complaints will wear the leaders out.

Do not say: My complains are many. Say: My complaints are many. Do not say: God hates complains. Say: God hates complaints. Do not say: Your complains are receiving attention. Say: Your complaints are receiving attention. Do not say: I don’t have any complain. Say: I don’t have any complaint. Do not say: This complain is unheard-of. Say: This complaint is unheard-of. Do not say: She has been repeating the same complain month after month. Say: She has been repeating the same complaint month after month.

Three other words-and their usage-are worth considering here. These are: refrain, restrain/restraint, and constrain/constraint. To refrain from doing something is to deliberately avoid doing it. Let’s read the following sentences: 1)Members of the public have been advised to refrain from making comments on the desirability or otherwise of the corporate existence of Nigeria. 2)Health officials have been advising residents to refrain from dumping refuse in waterways to avoid disastrous flooding. 3)Principals and headmasters have been warned to refrain from collecting unauthorized fees from students. 4)To avoid being misunderstood by people who are not familiar with the situation, I have refrained from making any pronouncement on the development. 5)Those who cannot refrain from talking are advised to leave the hall. 6)It is in his own interest to refrain from interacting with the controversial lady.

Please note that the word is a verb, and we have of necessity allowed it to occur consistently in the verbal slot. In addition, let us note that it occurs regularly with the particle from. The two words together form an indissoluble idiom.

Now restrain: When you restrain someone or yourself you prevent that person or yourself from doing something or acting in a particular way. The restraining may be physical or emotional. Let’s read the following sentences: 1)It was with great difficulty that I restrained myself from hitting him in the face. 2)She was boiling inside, and it was obvious she managed to restrain herself from making explosive remarks. 3)The man charged towards the policeman, intent on strangling him, but was restrained by two hefty men. 4)Tipsy and horny, it was a miracle that he managed to restrain himself from going the whole hog with the lady.5)We have a duty as Christians to restrain ourselves from doing anything that is antithetical to our faith. 6)There were already signs that he would soon grow violent, but this time he would restrain himself and avoid destroying the household utensils bought by his wife.

The noun form is restraint. Let’s read the following sentences: 1)Men are often advised to exercise restraint in their dealings with women. 2)In life, there are times for sensible and productive restraint, and there are times for freedom, complete, wholesome freedom. 3)Business activities call for wisdom, calm calculation, and restraint. 4)Seasoned diplomats know when to act swiftly and freely and when to exercise restraint. 5)One should be sensible enough to exercise restraint among strangers and in a foreign land. 6)As one grows older, one’s sense of restraint should increase. 7) A sound sense of restraint is usually a function of cultural education.

Next, we consider the verb constrain. A thing that constrains a person or another thing limits his/its action, freedom of action, development, forces him/it to do or not to do certain things. Let’s read the following sentences: 1)Family ties often constrain people from taking up jobs from particular locations. 2)Poverty constrains people’s educational attainment in Africa. 3)There should be laws to constrain parents to send their female children to school. 4 Citizens should be constrained by patriotism to report crime to the police. 5)Constrained by love, he often helps his wife in the kitchen. 6)I feel constrained by honour to confess my misdeeds openly. 7)Expansion of a farm is often constrained by availability of land and funds. 8)The prosperity of any business organization is constrained as much by financial and human resources as by the vision of the founding director(s).

The noun form is constraint. The following sentences illustrate its usage: 1)The association died a natural death as a result of financial constraints. 2)But for cultural constraints (such as what people would say, what would become of the children, etc)the marriage would have ended in divorce a long time ago. 3)Powerful as the presidency is, it is subject to the constraints of checks and balances. 4)There are constraints on the powers of the governor that guarantee that those powers are not abused. 5)Social constraints even in an overly patriarchal society like ours prevent husbands from acting irresponsibly. 6)Working within the constraints of limited resources, we can only expect modest achievements. 7)The constitution privides the needed constraints on the powers of public officials. 8)Every human being works within the constraint of the limited time available to him in life.

Civil Society Legislative Advocacy Centre (CISLAC) and Fair Finance Nigeria have called on the Federal Government to urgently address the menace of crude oil theft and ensure that revenues from the petroleum sector are transparently and effectively utilized for national development.

Speaking at the official launch of a report titled ‘Community Voices on Oil, Finance, and the Petroleum Industry Act (PIA): A Case Study of Akwa Ibom and Bayelsa States’ in Abuja, CISLAC Executive Director, Comrade Auwal Ibrahim Musa Rafsanjani, lamented the colossal loss of 619.7 million barrels of crude oil valued at $46.16 billion between 2009 and 2020.

According to Rafsanjani, crude oil and natural gas remain the backbone of Nigeria’s economy, accounting for 89.23 percent of the country’s exports in the third quarter of 2023.

He noted that between 2020 and 2023, the Nigerian National Petroleum Company Limited (NNPCL) alone received over $10.3 billion in syndicated loans from local and international financiers, yet oil-producing communities remain impoverished.

The CISLAC boss identified complicity among oil companies, security agencies, government officials, and some community leaders as a major driver of persistent oil theft, which he described as a ‘lucrative criminal business.’

According to him, ‘If we are still treating oil theft in the lackadaisical attitude that it is being treated, definitely you will not see an end to the oil theft,’ he said. ‘At the end of the day, it is the generality of the communities that suffer.’

He added that host communities, despite their proximity to oil facilities, continue to live with exclusion, poverty, and environmental devastation. From January to August 2024 alone, five major oil spills were recorded in Akwa Ibom and Bayelsa States, with companies often opting to pay fines for gas flaring rather than invest in gas-gathering infrastructure.

The report highlighted lapses in the implementation of the Petroleum Industry Act (PIA) 2021, particularly in the Host Communities Development Trusts (HCDTs). Although oil companies are expected to contribute between $500 million and $800 million annually, only $21.7 million was remitted between 2022 and 2023, undermining sustainable projects and development initiatives.

‘Despite the enactment of the Petroleum Industry Act, challenges persist around inclusion, transparency, accountability, illicit financial flows, and the equitable implementation of the HCDTs,’ Rafsanjani stressed.

The study also documented severe socio-economic and environmental consequences, including respiratory diseases, cancer, and loss of livelihoods resulting from spills and gas flaring. Communities like Ibeno, Eastern Obolo, Ayakirama, and Azuzuama were cited as case study areas where residents continue to endure hardship without adequate compensation.

Rafsanjani described the report as ‘an urgent call to action for government, oil companies, financial institutions, and civil society to prioritize transparency, accountability, and collaboration to secure a just and sustainable future for oil-producing regions.’

In his presentation, Director of Programmes at Connected Development, Mr. Agu Kingsley, emphasized the role of financial institutions in preventing ‘greenwashing’ by ensuring strict adherence to Environmental, Social, and Governance (ESG) standards when financing oil and gas projects.

Kingsley disclosed that between 2020 and 2023, NNPCL received $8.6 billion in financing, enabling it to declare $1.7 billion profit in 2023. He added that over 50 percent of the 18 banks financing Nigeria’s oil sector claim to be signatories to global ESG principles, yet compliance remains weak.

According to him, ‘stronger regulatory frameworks and accountability measures are essential to strike a balance between project finance, environmental justice, and the development needs of host communities.’

Nnamdi Azikiwe University (UNIZIK), Awka, Anambra State, has granted amnesty to students who have overstayed in the university.

The disclosure was made by the Acting Vice-Chancellor, Prof. Carol Arinze-Umobi, on Friday, 3rd October 2025, during the 238th meeting of the Senate held at the Faculty of Social Sciences auditorium.

Prof. Arinze-Umobi stated that the retinue of appeal letters from overstayed students necessitated the move, which she deemed fit to present on the floor of the Senate for approval. The Acting Vice-Chancellor informed that the period for the amnesty covers two academic sessions – the 2025/2026 and 2026/2027 sessions – while admonishing the concerned students to fully utilise the opportunity to address their academic challenges.

Prof. Arinze-Umobi also said the university had carried out several academic activities and achieved notable milestones under her watch in recent months. Among these is the selection of UNIZIK as one of the three universities in each of the six geopolitical zones for the sponsorship of postgraduate students via the Tertiary Education Trust Fund (TETFund).

The Professor of Law further disclosed that fourteen panels comprising forty-two members recently visited the university for resource verification towards the establishment of twenty-three new academic programmes.

The Acting Vice-Chancellor also commended members of the UNIZIK community for ensuring peace and stability on campus.

The Socio-Economic Rights and Accountability Project (SERAP) has fired a salvo at Nigeria’s 36 state governors and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, issuing a seven-day ultimatum to publicly account for the spending of an estimated N14 trillion collected as fuel subsidy savings.

The organisation also threatened to institute legal proceedings should the state governors and the FCT Minister fail to comply with the demand for transparency.

The N14 trillion represents a portion of the increased Federation Account Allocation Committee (FAAC) funds shared among the three tiers of government since the removal of the petrol subsidy in mid-2023.

According to SERAP, the FAAC distribution for 2024 alone surged to N28.78 trillion, a 79 per cent jump from the previous year, with state governments’ allocations rising by 45.5 per cent to N5.22 trillion.

In a Freedom of Information (FoI) request dated October 4, 2025, and signed by SERAP Deputy Director Kolawole Oluwadare, the group insisted that the savings must be spent solely for the benefit of poor and vulnerable Nigerians.

Failure to do so, SERAP warned, ‘would result in a morally repugnant result of double jeopardy on these Nigerians.’

SERAP urged public officials to invite anti-graft agencies – the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) – to track and monitor spending, ensuring that the money is not diverted into private pockets.

The human rights group also expressed concern over the alleged mismanagement of the funds, stating that the spending details have been mostly shrouded in secrecy.

‘We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter.

‘If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your state and the FCT to comply with our request in the public interest,’ the group added.