Category: Nigerian Tribune

Nigeria’s equities market suffered a sharp sell-off on Tuesday, erasing N1.88 trillion from investors’ wealth as heavy losses in banking and insurance stocks dragged the benchmark index down 1.17 per cent.

The Nigerian Exchange Limited All-Share Index (ASI) fell to 244,802.11 points from the previous session, moderating its year-to-date (YTD) return to 57.31 per cent from 59.18 per cent.

Market capitalisation consequently declined to N158.72 trillion, reflecting the broad-based pressure that swept through major market segments.

The sell-off was particularly severe in the banking sector, which fell 5.29 per cent, with several highly capitalised lenders among the biggest losers.

First Holdco Plc declined 9.30 per cent, while Abbey Mortgage Bank Plc and Access Corporation Plc fell 9.74 per cent and 7.06 percent respectively. The Insurance sector also weakened by 4.38 per cent, adding to the downward pressure.

The breadth of the market underscored the severity of the sell-off, with only four stocks advancing against 65 decliners, translating to a negative breadth of 0.05x.

Abbey Mortgage Bank emerged as the session’s worst-performing stock, while Ellah Lakes Plc led the gainers with a 7.07 per cent increase. Learn Africa Plc and Wema Bank Plc also gained 1.16 per cent and 0.68 percent respectively.

Sectoral performance was mixed, although gains in selected segments were insufficient to offset the broad market decline. The Consumer Goods sector rose 0.49 per cent, while Oil and Gas and Commodities gained 5.76 per cent and 4.04 per cent respectively.

However, the strong performance of these sectors was overwhelmed by the 5.29 per cent decline in banking stocks, the 4.38 per cent fall in insurance and a 0.64 per cent decline in Industrial Goods.

Despite the sharp decline in prices, trading activity strengthened considerably, suggesting that the sell-off was accompanied by increased investor participation rather than a withdrawal of activity.

Total volume traded surged 84.67 per cent to 753.18 million shares, while transaction value rose 2.09 per cent to N27.82 billion. The exchange recorded 54,051 deals, representing a 3.30 per cent increase from the previous session.

NEM Insurance Plc dominated trading activity, accounting for 131.73 million shares valued at N4.07 billion, making it the leading stock by both volume and value traded.

Market analysts attributed the weak session to continued profit-taking and broad-based selling pressure following the strong gains recorded by Nigerian equities this year.

The latest decline brings the market into a more cautious phase after its YTD return had approached 60 per cent, raising the likelihood of further portfolio rebalancing and profit-taking among investors sitting on substantial gains.

Analysts expect sentiment to remain cautious in the near term, particularly if selling pressure persists across banking and other heavyweight stocks.

However, sustained buying interest in sectors such as oil and gas and commodities could provide some support, even as investors increasingly focus on corporate earnings, valuations and the sustainability of the market’s strong 2026 rally.

The death of Dotun Oladipo, the publisher of The Eagle Online, on August 25, 2026, came as a rude shock. When the sad news story reached me at about 10.45 pm on August 26, 2026, I could not believe it. I never thought he would die so soon, especially since we used to chat on WhatsApp every Sunday.

He was a brilliant, humble and patriotic veteran Nigerian Journalist whom I respected deeply. It is heartbreaking that death took his life so suddenly at the age of 56.

He played a major role during the burial of my late mother, Mrs Risikat Jimoh, who died on July 16, 2026, by giving her burial media coverage. He also commiserated with me when I broke the news of my mother’s death to him.

He called me and sent a condolence message on WhatsApp, saying, ‘Eeya. May her soul rest in peace. Accept my sincere condolences, sir.’ I replied to him by saying, ‘Thank you very much, sir. E maa pe fun wa, sir.’ I was very sad.

I am a writer for The Eagle online media outlet, which has published several of my articles that are still online today.

I was planning to pay him a visit in Lagos State so as to thank him face-to-face for everything he has done for me, but it is a pity that his burial programme is what I will now attend in Lagos State, and the said burial is slated for September 10 and 11, 2026.

Therefore, I write to express my sincere condolences to his wife, Madam Taiwo Oladipo, and his children, including the journalists who are working with The Eagle online media outlet.

The passing of Dotun Oladipo is a heavy loss to his immediate family members and Nigeria at large. May his soul rest in sweet repose.

Let me also use this medium to urge President Bola Ahmed Tinubu to use his good office to immortalise the late Dotun Oladipo so as to recognise the lasting legacy that he left behind.

In death, I still thank him. Dotun Oladipo, goodbye, sir.

The Federal Government is set to lead a gathering of health leaders and key stakeholders to address the persistent gap between health policy formulation and implementation in Nigeria, with an emphasis on stronger coordination across the healthcare system to improve outcomes for citizens.

The initiative will be a major focus of the 2026 National Health Equity Conference, scheduled to hold from October 13 to 15 at the Nigeria National Merit Award House, Maitama, Abuja.

The conference, organised by OneBarrow International Limited, is themed, ‘From Policy to Impact: Care Coordination as the Core Engine of Health Equity.’

The Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, will serve as Chief Host, while the Chairman, House Committee on Health Services, Hon. Amos Gwamna Magaji, and the Minister of Education, Dr. Tunji Alausa, are expected to attend as Special Guests of Honour.

The conference is expected to bring together policymakers, legislators, healthcare regulators, development partners, professional bodies, practitioners, private-sector leaders, civil society organisations, patient and community groups, as well as academic institutions to examine practical approaches to improving healthcare access, quality and continuity of care.

Speaking ahead of the event, the Chief Executive Officer of OneBarrow International Limited, Yemi Ajao, said Nigeria’s healthcare challenge was increasingly about translating existing policies and frameworks into coordinated action and improved outcomes at the point of care.

‘Nigeria has developed important health policies and frameworks, but the real test is what happens when those policies reach the people and communities they are designed to serve,’ Ajao said.

He said the conference was designed to bridge the implementation gap by bringing stakeholders together to focus on coordination, implementation and accountability.

According to him, effective care coordination is critical because healthcare delivery involves different professionals, institutions and levels of the health system working together around the needs of patients.

Ajao said the conference would examine how national health policies could be translated into practical implementation strategies across the federal, state and local government levels, while strengthening collaboration among doctors, nurses, pharmacists, laboratory scientists, health administrators and other healthcare professionals.

He added that a coordinated health system would reduce fragmentation, strengthen referral pathways, improve communication and promote continuity of care.

‘Every healthcare cadre has a unique and complementary role to play. The patient experiences the health system as one system, regardless of how many professionals or institutions are involved in their care.

‘We therefore need systems that support collaboration rather than fragmentation, while strengthening referral pathways, communication and accountability,’ he said.

The organisers said a major focus of the conference would be the link between care coordination and health equity, particularly the role of better coordination in addressing disparities in access to quality healthcare among underserved populations and communities facing barriers to navigating the health system.

Technology, data and citizen participation will also feature prominently, with participants expected to examine the use of digital feedback mechanisms, transparency, access to information and awareness of patients’ rights to strengthen accountability in healthcare delivery.

Ajao stressed the need to empower citizens to participate actively in discussions around the quality and accountability of healthcare services.

‘Citizens must understand their rights, have meaningful channels to provide feedback and be empowered to participate in conversations about the quality of care they receive,’ he said.

He added that a health system that listens to citizens would be better positioned to identify gaps, respond to emerging needs and continuously improve, stressing that demand-side accountability should form part of the broader health equity agenda.

The conference is expected to culminate in a formal post-conference communiqué and practical implementation roadmap aimed at generating actionable recommendations, tracking commitments, supporting policy implementation and deepening cross-sector collaboration.

The organisers said the objective was to move beyond identifying challenges in the health system to establishing practical commitments that could be implemented across different levels of healthcare delivery.

OneBarrow maintained that meaningful health reform required more than policy development, stressing that coordinated implementation, accountability and sustained collaboration were essential to translating reforms into improved health outcomes.

The organisation said it expected participants to emerge from the conference with clearer priorities, stronger partnerships and practical commitments towards building a more inclusive, resilient, coordinated and accountable healthcare system.

The Federal Government has expressed concern over the alarming psychological impact of conflict on Nigerian children, with studies showing that 41.5 per cent of children exposed to the Boko Haram insurgency in Chibok met the clinical threshold for post-traumatic stress disorder (PTSD), while a separate national study recorded PTSD in 79.7 per cent, depression in 84.8 per cent and functional impairment in 90.7 per cent of displaced Nigerian children.

The Minister of Humanitarian Affairs and Poverty Reduction, Dr Bernard Doro, reeled out the statistics at the National Policy Dialogue on the Psychosocial Impact of Conflicts on Children in Nigeria, held in Borno State, where he pledged stronger Federal Government intervention in children’s mental health.

This was contained in a statement issued by Dr Abimbola Fasanu, Senior Technical Adviser on Information Systems and Data Analysis to the Minister, on Tuesday night in Abuja.

Dr Doro said the scale of psychological distress among children exposed to conflict demanded deliberate and coordinated action, stressing that humanitarian interventions must extend beyond meeting immediate physical needs to addressing the psychological wounds inflicted by violence.

‘Our Ministry treats psychosocial wellbeing as central to humanitarian response, not a side issue, connected, through our Humanitarian-Development-Peace approach, to protection, education, nutrition and household stability,’ he said.

‘A child who has been fed but not healed in mind has not truly been rescued,’ the Minister added, stressing the need to make mental health support an integral part of humanitarian assistance.

According to the Minister, the statistics represented a documented and measurable pattern of trauma rather than isolated cases, with children in conflict-affected communities experiencing anxiety, anger and persistent hyper-vigilance.

‘This is a documented, measurable pattern, not an isolated tragedy,’ he said, adding that a continent-wide analysis had placed PTSD among conflict-exposed African children at approximately 36 per cent.

He explained that the present administration developed the One Humanitarian, One Poverty Response System (OHOPRS) to strengthen coordination among humanitarian response, social protection and poverty reduction systems, ensuring that vulnerable children are identified and connected to appropriate services.

‘This is why we are building One Humanitarian, One Poverty Response System (OHOPRS), so a distressed child identified in a Maiduguri school is not lost in a system that does not talk to itself,’ he said.

Dr Doro announced four key areas of commitment, including strengthening community referral pathways in collaboration with the Office of the Special Adviser to the President on Health and the health sector; improving the identification of trauma exposure alongside economic vulnerability through OHOPRS and the National Social Registry; and training frontline humanitarian workers and teachers to recognise and respond appropriately to children experiencing psychological distress.

‘A child spends more hours with a teacher than a therapist,’ Doro said, stressing the strategic role of schools and teachers in identifying children requiring mental health support.

He further pledged that the Ministry would work with relevant institutions to drive a coordinated national response and implement policy outcomes arising from the dialogue, while urging stakeholders to regard investment in children’s psychological recovery as an investment in Nigeria’s long-term stability, education, health and security.

‘Untreated trauma in a generation of children is a cost that returns to our schools, our clinics and our security for decades. Every naira spent healing a child’s mind today is one we will not spend containing that wound twenty years from now,’ he said.

‘Behind forty-one per cent, seventy-nine per cent, ninety per cent, is a specific child with a name, waiting to see if we mean what we say. Let this dialogue mark the point where we stopped naming this burden and started, deliberately, to lift it,’ the Minister stated.

Prof. Joash Amupitan, Chairman, Independent National Electoral Commission (INEC), has urged electoral officers to discharge their duties with integrity, warning there will be consequences for misconduct during the 2027 general elections.

Amupitan gave the warning on Monday in Lagos at the South-West Zonal Interactive meeting with staff on readiness assessment for 2027 general elections.

He said partisan leaning, administrative negligence and compromised ethics would not be tolerated, stressing that the integrity of the electoral process must be protected.

‘Let me be unequivocally clear about the fact that partisan leaning, administrative negligence, or compromised ethics will not be tolerated.

‘We will enforce our code of conduct, and every officer must understand that the protection of INEC’s institutional integrity is non-negotiable,’ he said.

The INEC chairman said electoral officers must remain neutral and administer elections without preference for any candidate or political party.

He said the Electoral Act reinforced neutrality by requiring staff involved in elections to swear an oath of loyalty and neutrality.

‘When you take that oath, you are committing yourself to administer an election in which you have no preferred candidate and no preferred political party.

‘The question should never be: ‘Who will benefit from this decision?’ The question should always be:

‘What does the law require me to do?’ That is the discipline that protects both the electoral process and the electoral officer,’ he said.

Amupitan also cautioned electoral officers against improvising solutions where the law or Commission’s guidelines had already provided procedures.

‘One of the recurring problems in public administration is the temptation to solve difficult situations through informal practices.

‘In election administration, that temptation can be dangerous. Where the law provides a procedure, follow the procedure.

‘Where the Commission has issued a lawful guideline or directive, follow it. Where an operational difficulty arises, escalate it through the appropriate institutional channel,’ he said.

He said the credibility of the 2027 elections would depend significantly on the ability of electoral officials to faithfully translate the provisions of the law into practice.

‘A beautifully drafted Electoral Act cannot by itself guarantee a credible election. A sophisticated electoral technology cannot by itself guarantee integrity.

‘An independent electoral commission cannot by itself guarantee public confidence. The credibility of an election depends significantly on how faithfully the law is implemented by the officials entrusted with its administration,’ Amupitan said.

He urged staff to know the law, understand their responsibilities, remain neutral, document their actions and protect the integrity of the electoral process.

‘My simple message to you today is that you must know the law; understand your responsibility; remain neutral; document your actions; protect the integrity of the process.

‘Remember that every administrative decision you make may eventually have to withstand public scrutiny and judicial review,’ he said.

The chairman said the Commission had commenced preparations for the 2027 elections with emphasis on technology, voter registration, logistics, staff training and institutional integrity.

He said the Commission had registered 10,772,421 voters during the three phases of the Continuous Voter Registration (CVR), subject to completion of the Automated Biometric Identification System (ABIS) verification.

Amupitan added that the Commission also introduced printable Permanent Voter Cards (PVCs), in line with Section 18(1) of the Electoral Act, during the recent Osun governorship election.

‘Our goal is simple: no Nigerian who is eligible to vote should be disenfranchised by logistics. Every eligible citizen who registers must get their Card without friction,’ he said.

Panic gripped residents of Wuse Zone 4, Abuja, on Monday evening after a building in the area collapsed.

The FCT Emergency Management Department (FEMD) said it received a distress call about the incident at about 7:20 pm and immediately mobilised emergency responders to Wuse Zone 4.

According to Lere Olayinka, Senior Special Assistant on Public Communication and Social Media to the FCT Minister, Nyesom Wike, the FCT Administration’s Department of Development Control had earlier sealed the building.

Olayinka said occupants of the building had also been directed to vacate the premises before the collapse.

Although no casualties had been confirmed at the time of filing this report, it remained unclear whether anyone was trapped beneath the rubble.

Rescue and search operations were ongoing at the scene, with emergency responders awaiting the arrival of an excavator to facilitate the operation.

The spokesperson for the FCT Police Command, SP Josephine Adeh, said a police response team led by the Assistant Commissioner of Police, Department of Operations, ACP Edward Akaniyene, and the Area Commander, Metro, ACP Georgelyn Ufomadu, promptly arrived at the scene.

Adeh added that personnel from the National Emergency Management Agency (NEMA), Federal Road Safety Corps (FRSC), Federal Roads Maintenance Agency (FERMA), Federal Fire Service, FCTA Security Service Department, and other emergency agencies had joined the search and rescue operation.

‘Preliminary investigations revealed that the building had earlier been marked and sealed by the Department of Development Control, Abuja. So far, no victims have been confirmed. However, search and rescue operations are still ongoing to identify and rescue any persons who may be trapped in the rubble,’ she said.

She said an investigation had commenced to establish the circumstances surrounding the collapse and determine its possible cause.

‘Further details on the extent of damage will be communicated in due time. The Command urges residents to remain calm and security-conscious, avoid the affected area, and cooperate with emergency responders to facilitate the ongoing rescue operation,’ Adeh added.

Details of the number of people affected and the cause of the collapse were still emerging as rescue operations continued.

Members of the public were advised to remain calm and stay away from the affected area to allow emergency and security personnel unhindered access to the scene.

Association of Ajoro Omo Oduduwa (AAOO) has urged Muslims, Christians and traditional worshippers in Yorubaland to promote religious tolerance, mutual respect and peaceful coexistence.

The association made the appeal in a statement by its founder, Babatunde Balogun, and national secretary, Comrade Iyiola Solademi, due to growing religious controversies on social media.

AAOO said Yorubaland historically accommodated people of different faiths and traditions, warning that religious differences should not be allowed to threaten the unity and peaceful coexistence of the people.

The association specifically expressed concern over recent social media controversies involving a traditional religion personality known as Taalolorun, urging Muslims, Christians and traditional worshippers to avoid actions or statements capable of creating communal tension.

It appealed to religious leaders across the three major faith traditions to encourage mutual understanding, responsible engagement and respect for the beliefs of others.

The group urged social media users to verify information before sharing it, warning that inflammatory, provocative or misleading materials could deepen religious suspicion and create unnecessary conflict within communities.

AAOO called on traditional rulers, community leaders, government authorities and law enforcement agencies to intervene peacefully in genuine disputes and ensure that complaints are handled fairly and in accordance with the law.

It advised that Yoruba unity should remain greater than religious differences, urging all Yoruba to protect the peace, dignity and cultural heritage of the region.

The association also raised concerns about food safety and agricultural practices, just as it called on farmers to adopt safe, responsible and sustainable methods of food production.

It cautioned against the excessive and improper use of chemicals and other artificial inputs, while calling for proper scientific and medical investigation into reported changes in the taste, appearance and colour of crops such as yam and cassava.

The association suggested closer monitoring of animal husbandry and poultry farming, particularly the use of chemicals, veterinary drugs, growth-promoting substances and other agricultural inputs that could affect consumers’ health.

AAOO urged governments, agricultural experts, food scientists, health professionals, research institutions and relevant agencies to strengthen food inspection, laboratory testing, public education and consumer protection, saying the health of the people must remain a priority alongside agricultural development.

The All Progressives Congress (APC) governorship candidate in Oyo State for the 2027 election, Senator Sharafadeen Alli, has described Archbishop Francis Wale Oke as a prominent spiritual leader whose contributions to Christianity have brought honour to Oyo State and Nigeria.

Alli stated this in a message issued on Tuesday to mark the 70th birthday of the President of the Pentecostal Fellowship of Nigeria (PFN).

The APC candidate described Oke as a ‘kingdom general’, noting that his decades of service to the Christian faith had impacted lives and communities in Nigeria and beyond.

According to him, the archbishop’s commitment to evangelism, spiritual development and leadership had distinguished him as one of the notable spiritual figures produced by Ibadan.

He said, ‘On behalf of my family and the APC family in Oyo State, I warmly congratulate one of our state’s most illustrious figures, Archbishop Francis Wale Oke, as he marks the landmark age of 70 years today.

‘I join millions of Nigerians in celebrating a generational leader, a reformer, and a dependable voice for peace and national development. Your dedication over the last five decades to destiny moulding, spiritual upliftment, and the expansion of the Christian faith is unparalleled.’

Alli also commended Oke’s leadership qualities, particularly his role as national president of the PFN, saying his various leadership positions had produced significant results.

He said the archbishop’s influence had extended beyond the church, with his activities contributing to peace, national development and the advancement of society.

The APC candidate prayed for continued grace, good health and more years of fruitful service for the cleric.

‘As you continue to expand the Kingdom and impact destinies, I pray for renewed grace, robust health, and many more fruitful years. Ibadan and Oyo State are immensely proud to have you,’ he added.

Presidential candidate of the Accord party, Gbenga Olawepo-Hashim, has unveiled what he described as the production backbone of his Energy First Presidential Agenda, promising to raise Nigeria’s crude oil production to a minimum of four million barrels per day within 24 months of an Accord administration.

Hashim made the declaration when he appeared on Channels Television’s Politics Today programme, where he outlined his strategy for using Nigeria’s existing petroleum assets to rapidly expand production.

At the centre of the plan, said Hashim, is an investment programme to bring approximately 3,000 currently non-producing oil wells back into productive operation.

‘We have oil wells that have already been drilled, assets that have already been discovered and infrastructure that have already been built. Our first task is to put these assets back to work for Nigeria,’ he said.

Hashim maintained that government should prioritise the recovery of existing productive assets over committing scarce public resources to projects like Lagos-Calabar Coastal Highway, arguing that the road may not bring any revenue to government in the next 20 years.

The announcement comes against the backdrop of Nigeria’s current crude production of about 1.5 million barrels per day.

Moving from approximately 1.5 million to four million barrels daily would represent an increase of almost 2.5 million barrels per day, or more than 160 percent above current crude production.

The Accord presidential candidate argued that Nigeria’s fundamental problem is not the absence of petroleum resources, but the failure to convert existing resources and productive assets into reliable energy supply.

He said his administration would, therefore, make production recovery one of the first priorities of government.

The proposed programme would identify why each viable inactive well is not producing and deploy the necessary capital and technical interventions required to restore production. These interventions could include well workovers, well intervention, artificial lift systems, repairs to gathering infrastructure, pipeline rehabilitation, improved evacuation arrangements and other field-specific interventions.

For Hashim, the 3,000 wells are not merely dormant petroleum assets. They represent what he described as Nigeria’s wasted productive capacity.

‘The question is not how much oil Nigeria has underground. The question is why we are not producing the oil that our existing assets are capable of producing,’ he added.

He said an Accord administration would establish a National Production Recovery Dashboard to track every intervention, investment and additional barrel generated.

Nineteen political parties in Kogi State have signed a peace accord ahead of the 2027 general elections, pledging to conduct their campaigns and other political activities peacefully and in accordance with the law.

The agreement was reached on Tuesday during an engagement between the Inter-Consultative Committee on Election Security and political parties at the Kogi State Police Command Headquarters in Lokoja.

The 19 parties, out of the 22 political parties expected to participate, committed themselves to peaceful participation in the elections and vowed to refrain from actions capable of causing violence, disorder or disruption of the electoral process.

Under the accord, the parties and their candidates agreed to base their campaigns on policies, programmes, manifestos and issues affecting the people of Kogi State.

They also pledged not to use campaign platforms to promote hatred, ethnic or religious division, personal attacks, inflammatory rhetoric or incitement.

The political parties rejected the use, sponsorship or mobilisation of individuals and groups for electoral violence, intimidation, threats or disruption of political activities.

They further agreed to take reasonable steps to ensure that their supporters and campaign organisations conduct themselves peacefully throughout the electoral process.

The parties also committed to respecting the independence and lawful functions of the Independent National Electoral Commission (INEC) and other institutions responsible for administering and securing elections.

They pledged to cooperate with electoral and security authorities to facilitate peaceful elections while exercising restraint in public statements, speeches, broadcasts and social media communications.

The accord also prohibits the deliberate circulation of false information, inflammatory messages, threats or other content capable of provoking violence or undermining public confidence in the electoral process.

The parties agreed to respect the rights of rival political parties and candidates to campaign and participate in the electoral process without obstruction, harassment, threats or unlawful interference.

They also committed to protecting the rights of eligible citizens to participate freely in elections without intimidation, coercion, harassment or discrimination.

According to the agreement, no party, candidate or supporter shall unlawfully interfere with a voter’s freedom to choose a candidate of their preference.

On election results, the parties agreed to respect lawful procedures for the announcement and declaration of results, stressing that any candidate or party dissatisfied with an electoral decision should seek redress through available legal and constitutional mechanisms rather than resorting to violence or self-help.

The commitment, the parties stated, would continue beyond the declaration of results, with all political actors expected to discourage retaliation, reprisal attacks, destruction of property and other forms of post-election violence.

The signing ceremony was witnessed by officials of the Kogi State Police Command, INEC, representatives of other security agencies, civil society and election observer groups, as well as religious institutions.

The stakeholders urged political parties, candidates and their supporters to uphold the spirit of the accord in the interest of peace and credible elections in the state.