Category: PM News

Nigerians are increasingly taking loans from banks to buy or build houses, according to the Central Bank of Nigeria (CBN).

The CBN disclosed this in its Credit Condition Survey Report for the second quarter of 2026.

According to the report, credit for house purchases by households rose to 9.6 index points during the period, showing that more Nigerians were seeking loans to finance their housing needs.

The apex bank also reported that lenders recorded an increase in credit availability for secured, unsecured and corporate lending during the quarter.

The report showed that overall demand for secured lending increased to 15.1 index points, while demand for corporate lending rose to 15.2 index points.

However, demand for unsecured lending remained low at -1.2 index points.

The CBN said consumer loans to households increased to 11.2 index points, while lending for house purchases rose to 9.6 index points.

Loans to small businesses also recorded a significant increase, rising to 26.4 index points.

Mortgage and re-mortgage lending to households increased to 13.3 index points.

For unsecured loans, the CBN said overdrafts and personal loans to households increased to 7.9 index points. However, credit card lending declined to -2.0 index points.

The report also showed that corporate lending increased across most categories.

Loans to small businesses rose to 26.5 index points, while lending to medium-sized private non-financial companies increased to 25.5 index points.

Credit to large private non-financial companies also increased to 8.9 index points.

However, lending to other financial corporations remained unchanged at 0.0 index points.

The CBN also reported an improvement in loan repayment, saying banks recorded lower default rates across both secured and unsecured lending.

Default rates also declined among small businesses, medium-sized private non-financial companies, large private non-financial companies and other financial corporations.

The findings suggest that despite the economic pressures facing households and businesses, demand for bank credit remained strong in some key areas, particularly housing and small business financing.

With just a few days before the August 15 Osun State governorship election, the political calculus is already shifting. The election is a two-way horse race between incumbent Governor Ademola Nurudeen Jackson Adeleke of the Accord Party and his challenger, the All Progressives Congress candidate, Asiwaju Munirudeen Bola Oyebamiji – popularly branded as AMBO.

While no election is won on paper, three key factors – party structure, voter disenchantment with the incumbent, and the imperative of alignment with the centre – will likely determine where the pendulum swings.

APC in Osun has spent the last two years rebuilding and recalibrating ward by ward. Typically, after an electoral loss, political parties’ structure tends to become amorphous. But after losing in 2022, APC did what losing parties rarely do: it stayed on the ground, with its key leaders and foot-soldiers turning themselves into irritant opposition to the Adeleke government.

AMBO’s campaign has leveraged that structure. Local government chairmen, former House of Assembly members, former councillors, and youth leaders have been harmonised under one unit. That way, the party successfully mustered the support of its members as a collective. In a state where elections are often decided by 2,000-5,000 votes per LGA, that machinery matters.

By contrast, the incumbent Governor Adeleke was hobbled and weakened by visible internal factions within his People’s Democratic Party, which led to his exit from the party. Even the Accord Party, to which he ran for refuge, suffered a leadership crisis and has been in and out of court. Also, the rift between the Governor’s camp and some federal lawmakers, leading to the exit of two Senators and some House of Representatives members from the PDP to the APC, has not healed, and it is showing in voter mobilisation.

Governor Adeleke holds tight to civil servants who usually wield considerable influence in Osun elections. But he has lost control over the local councils, while the state chapter of the National Union of Road Transport Workers remains fragmented.

The Adeleke administration came in on a wave of goodwill in 2022 spurred by the salary hangover from previous APC administrations. By early this year, however, that goodwill is being tested by allegations of maladministration, exemplified by nepotism, lopsided infrastructure distribution, inflated contracts, and poor-quality projects.

After four years of the governor’s known shenanigans, voter allegiance is gradually changing. And Osun voters are known to be pragmatic.

Oyebamiji rode into Osun State public service on a high note, joining the former Governor Rauf Aregbesola administration as Managing Director of the dying Omoluabi Investment Company, which he successfully recapitalised. He was later appointed Commissioner for Finance in the administration of Governor Isiaka Adegboyega Oyetola, who succeeded Aregbesola.

The APC candidate stepped down as Managing Director of the National Inland Waterways Authority to vie for the Osun governorship seat. He is positioning himself as the new alternative to Adeleke. Oyebamiji is a technocrat with private sector credentials. He promises to create jobs, revive agriculture, and ensure fiscal discipline.

Next Saturday’s election is an off-cycle election, and in Nigeria, off-cycle elections are rarely isolated from Abuja, the seat of power, because all attention is focused on it. President Bola Tinubu’s APC controls the centre and most states, whose governors have unleashed intense voter mobilisation and a crackdown against Governor Adeleke. Also, the Renewed Hope Agenda has, as expected, turned into a campaign frame in Osun, offering more federal projects, more roads, more student loans, and more support for sub-nationals that align with the centre.

For swing voters and traditional rulers, it’s inconceivable that they would be indifferent to the array of federal projects being implemented in Osun State. Alignment with the federal government is increasingly being seen as access to resources and more Renewed Hope Agenda projects. That argument is resonating, especially in Osun West and Osun Central, where federal roads and health projects have been launched in 2026. Construction work is progressing on the Ibadan-Ife-Ilesa highway. Only last Thursday, the reconstruction of the Ibadan-Iwo-Osogbo road, a state road now taken over by Abuja, was inaugurated by the Minister of Works, Senator Dave Umahi, joined by former Osun governor and Minister of Marine and Blue Economy, Adegboyega Oyetola.

In my view, five major towns, including Osogbo, Ilesa, Ife, Iwo, and Ede, will decide this election.

Osogbo is a swing, urban, and media-driven Local Government Area. Whoever wins the narrative here wins the momentum.

Ilesa is APC’s traditional base. Turnout will be key here in determining the vote tally even as a son of the soil, former governor Aregbesola, is sponsoring the candidacy of his former House of Assembly Speaker, Hon. Najeem Salam, on the African Democratic Congress platform.

The electoral map in Iwo, which though gave APC a narrow lead in the 2022 election, and tilted towards Governor Adeleke’s Accord Party a few months ago, is now moving towards AMBO. Last week in Iwo, the pro-AMBO sentiment was apparent when I visited.

Same with Ife, where a mammoth crowd welcomed Oyebamiji during his campaign outing in the city.

Ede, being Adeleke’s hometown, remains his stronghold, but the margin of victory there can shrink in Ede North and Ede South in the days leading to the poll.

Voter turnout will also be decisive. Osun people vote when they believe their vote counts. The APC’s message of ‘protect your vote’ has struck a chord among youth groups, just like Accord Party’s posturing as the underdog and its appeal to voters to turn out en masse and not be intimidated in any way.

Barring any major upset, a last-minute scandal, or a massive voter suppression effort, Asiwaju Oyebamiji and the APC are going into the August 15 election with some advantage.

They have the structure, they have the momentum of a ruling party at the centre, and they are running against an incumbent burdened by governance headwinds.

The Economic and Financial Crimes Commission’s freeze of the accounts of the Adeleke government slowed down the APC momentum and won sympathy for the Accord Party but the order was quickly reversed.

One of the opinion polls released on Thursday pointed out that the freezing of the accounts resulted in a little drop in the APC momentum and gave Accord a temporary bounce, which could not be sustained as the order was reversed.

The poll was based on a largest event sampling of roughly 1,850 persons across the 30 Local Governments, weighted and determined by prevalent voter-registration update, previous voter-turnout and demographic composition, and in which disparities between urban participation and rural inclination was also factored in. It predicted an APC lead of 48%, followed by Accord at 45%. The bulk of the remaining votes was also predited to go the ADC way. But the poll focused methodologically on the top two candidates.

According to their analysis, Accord peaked about three weeks earlier, adding that an APC momentum had come into play in the last few days.

‘The APC, unlike Accord, ran a more strategic campaign based on focusing strategically on target groups. Segmentation such as, for example, market women, trade associations, and so forth. This has given the party a more targeted impetus of mobilization. The segmentation and concentration on focus groups has been very effective in allowing APC to catch up with Accord,’ the pollsters said.

‘Was there a bounce by the Accord and a dent on APC momentum based on the EFCC’s order? Yes, definitely. But it was not sustained following the reversal,’ the pollsters said.

According to them, however, : ‘the key issue in this election, in the end, is that in the major, traditionally high voter-turnout areas that are the battleground zones, voter turnout will be king. How much that turnout will be will be very, very important.

There is also a key demographic issue. Osun has a higher-than-average voter registration of new, first-time voters ahead of most of the population. How many of them will turn out on election day?’

Governor Adeleke is not out. He still commands loyalty and has the power of incumbency. But elections are about choices, and right now, more Osun voters appear willing to give APC another chance with AMBO.

August 15 will test whether Osun wants continuity or a reset. Going by the indicators on the ground, I dare say the reset is holding sway.

Rahman is Senior Special Assistant to the President on Media and Special Duties.

The Executive Chairman of the Nigeria Revenue Service, NRS, Zacch Adedeji, has defended President Bola Tinubu’s lifestyle, dismissing claims that public officials live extravagantly amid Nigeria’s economic challenges.

Adedeji said Tinubu does not live a lavish lifestyle despite occupying the nation’s highest office, adding that the President remains focused on his duties.

He made the statement during an interview on Channels Television on Sunday while responding to questions about the lifestyle of political office holders and concerns over government spending.

According to Adedeji, Tinubu often walks from his residence to his office and only uses vehicles when travelling to the airport.

‘Mr President goes from home to office on foot, not even driving except when he is going to the airport,’ he said.

The NRS chairman also claimed that the President eats only once daily and has not travelled outside Nigeria in the past three months.

Adedeji challenged criticism over the use of luxury vehicles by the President’s convoy, saying Tinubu had the means to afford such vehicles before becoming President.

‘How much is an Escalade that the President of Nigeria cannot afford?’ he asked.

He argued that Tinubu’s daily routine showed commitment to work rather than a life of luxury.

‘How many parties have you seen him at in the last three years? Tell me where you have seen him, whether on holiday or anywhere?’ Adedeji said.

His comments come amid ongoing public discussions about the cost of governance and the lifestyle of political leaders as Nigerians continue to face economic pressures.

Sub-Sahara Shelter Limited has joined family, friends, colleagues and well-wishers in celebrating its Managing Director and Chief Executive Officer, Mariner (Prince) Kolade Afeez Oladigbolu, as he marks his birthday.

The company, in a goodwill message signed on behalf of its management and staff, described Oladigbolu as one of Africa’s distinguished young professionals and a source of pride to Nigeria.

The birthday message highlighted his leadership qualities, vision and commitment to excellence, noting that his influence extends beyond his executive responsibilities at Sub-Sahara Shelter Limited.

According to the company, Oladigbolu’s personality and approach to leadership are characterised by what members of staff describe as a strong ‘spirit of royalty’-a quality reflected in his high standards, attention to excellence and determination to achieve outstanding results.

The management and staff noted that his philosophy of leadership has continued to inspire those working with him, describing him as an inspiring and visionary leader whose presence at the helm of the organisation is a source of pride.

‘Within the halls of Sub-Sahara Shelter Limited, it is a sentiment frequently echoed that a distinct spirit of royalty permeates our leader’s life. This inherent nobility is not merely an observation, but a guiding principle, where excellence is paramount and anything less is simply unacceptable,’ the company stated.

The organisation expressed appreciation for Oladigbolu’s leadership and wished him continued success as he advances in his personal and professional journey.

The management and staff also offered prayers for the celebrant, asking God to continue to guide and protect him while granting him good health, strength, longevity and prosperity.

The company further expressed its hope that Oladigbolu would continue to make meaningful contributions to Nigeria and Africa, describing him as a leader whose journey remains a source of inspiration.

‘May your life be long and prosperous, continuing to be a source of pride for Africa,’ the statement added.

As he marks another year, the entire management and staff of Sub-Sahara Shelter Limited extended their heartfelt congratulations and best wishes to Mariner (Prince) Kolade Afeez Oladigbolu, celebrating his leadership, achievements and continued commitment to excellence.

The Nigeria Customs Service (NCS) says it uncovered 399 fully assembled Jojef firearms and assorted rifle parts following the detailed examination of a seized shipment at the Tin Can Island Port Command.

The service made this known in a statement by its National Spokesperson, Abdullahi Maiwada, on Sunday in Abuja.

Maiwada said the seizure was confirmed on Sunday after Customs completed the coupling and examination of the arms shipment, which was initially discovered as crates of knocked-down components concealed in a container.

He said NCS’s Comptroller-General(CG), Bashir Adeniyi, had disclosed the interception of the container containing the concealed firearm components, which were preliminarily identified as Jojef pump-action rifles.

Adeniyi said the additional rifle parts recovered include 89 frames, 16 heat shields, 10 trigger pins, three pistons, 25 locking lugs and 80 charging handles.

Others are 39 pistol-grip screws, 34 springs, 57 trigger groups, 66 foregrip latches, 45 foregrips or handguards, four pistol grips and five barrels.

The C-G said that criminal networks could exploit Nigeria’s borders, ports and airports to move prohibited items into the country ahead of the next general elections.

‘We are about entering a major election cycle and we know that by this period, men of the underworld will want to use our borders, our ports, our airports to bring in items like this,’ he said.

He said that the service would intensify surveillance and enforcement operations to prevent the movement of illicit arms and other prohibited items through the country’s entry points.

He reaffirmed the NCS commitment to intelligence-led enforcement, stronger border surveillance and collaboration with sister security agencies to dismantle arms-trafficking networks.

Adeniyi specifically cited collaboration with the National Centre for the Control of Small Arms and Light Weapons (NCCSALW), under the Office of the National Security Adviser (ONSA), in efforts to safeguard national security.

He said the seized firearms would be handed over to the NCCSALW following the completion of the inventory and assessment.

The C-G said that the development reflected the commitment of security agencies to removing dangerous weapons from circulation and ensuring that those behind the trafficking network were identified and brought to justice.

Ahead of the 2027 presidential election, former federal lawmaker, Senator Tokunbo Afikuyomi, has been appointed Chairman of the Advisory Council of the President Bola Ahmed Tinubu/Kadiri Obafemi Hamzat Independent Campaign Group (PBAT-KOH ICG).

The appointment was ratified at a strategic meeting in Lagos convened to strengthen the group’s structures ahead of the planned flag-off of the presidential campaign.

The meeting brought together key political figures, including Senator Wasiu Sanni Eshinlokun, National Director-General of the PBAT-KOH ICG; Dr Seyi Bamigbade, who represented the Chairman of the Board of Trustees, Prince Tajudeen Oluyole Olusi (OON); and Hon. Abdul Hamed Salawu Dullar, Principal Director-General of the PBAT-KOH ICG in Lagos State.

Addressing the meeting, Eshinlokun said the group was focused on building an effective grassroots mobilisation structure ahead of the 2027 election.

He said the strategy would include ward-to-ward mobilisation and the deployment of polling-booth canvassers to strengthen the campaign’s reach across the country.

According to him, the ICG is prepared to leverage its network to mobilise millions of voters in support of President Tinubu and his administration’s Renewed Hope Agenda.

Eshinlokun said the group’s mobilisation strategy was designed to establish a strong presence at the grassroots and translate its support base into electoral strength during the 2027 presidential election.

Also speaking, Bamigbade said Afikuyomi’s appointment was in line with the directives and leadership vision of the Board of Trustees Chairman, Prince Tajudeen Oluyole Olusi.

He said the Advisory Council would provide strategic direction and help coordinate the various support networks backing Tinubu’s re-election into a more cohesive campaign structure.

The group said the appointment and other organisational measures were part of preparations to strengthen its operations ahead of the formal commencement of the 2027 presidential campaign.

The Minister of the Federal Capital Territory, Nyesom Wike, has dismissed reports that he is lobbying to become Director-General of the All Progressives Congress Presidential Campaign Council ahead of the 2027 elections.

Wike said he had not discussed the leadership or membership of President Bola Tinubu’s campaign council with anyone, describing reports linking him to the position as false.

The clarification was contained in a statement issued on Monday by his Senior Special Assistant on Public Communications and Social Media, Lere Olayinka.

Wike, who said he was currently outside Nigeria resting after weeks of project activities in the FCT, maintained that his focus remained delivering on his ministerial mandate and strengthening Tinubu’s electoral prospects.

‘I am outside Nigeria, resting and relaxing after spending over 30 days, commissioning projects, flagging off new ones and inspecting ongoing ones, especially those scheduled for commissioning in December and January, next year,’ he said.

The former Rivers State governor said his priorities would remain unchanged when he returns to the country.

‘When I return, our focus will be the continuous delivery of our mandate in line with the President’s Renewed Hope Agenda and to further enhance his electoral fortune in Rivers State and the FCT,’ Wike said.

He insisted that he did not require any formal position in the APC presidential campaign structure to work for Tinubu’s re-election.

‘Therefore, I do not need to be the DG or even member of the Presidential Campaign Council of Mr President’s political party to contribute my quota by ensuring that he wins handsomely in Rivers State and the FCT,’ he said.

Wike reiterated his support for Tinubu’s second-term bid, maintaining that he would work to secure a strong showing for the President in Rivers State and the Federal Capital Territory in 2027.

Nigeria’s first certified astronaut, Chief Owolabi Salis, has urged President Bola Tinubu to revisit the submissions made by Catholic Bishops led by former Cardinal John Onaiyekan, saying their concerns reflect the growing hardship faced by Nigerians.

Salis, a chartered accountant and lawyer who spoke from the United States, said the President should give serious consideration to the views of the Catholic Bishops in the national interest, citing their leadership experience, proximity to the people and longstanding record of speaking truth to power.

According to him, the position occupied by the bishops gives them a unique perspective on the challenges confronting ordinary Nigerians and enables them to communicate the people’s grievances to government without equivocation.

‘The truth is that so many people are dying. It is those who are concerned who feel it, and Cardinal Onaiyekan is a consistent voice of reason that cannot be ignored,’ Salis said.

He said the level of hardship among Nigerians had become evident to him through the numerous requests for assistance he receives, despite living outside the country.

‘Today alone, I know the number of people that have called me for one assistance or the other. I spend the large chunk of my resources on so many poor homes in Nigeria that I sometimes ask myself whether I am being stupid,’ he said.

Salis urged the President to reconsider aspects of the government’s approach to economic reforms and remain conscious of the responsibility that comes with governing the country.

‘The government needs to change strategy. The President needs to constantly remind himself of the onerous responsibility of governance of the people,’ he said.

He said the administration should prioritise policies aimed at narrowing the gap between the rich and the poor, arguing that the government appeared disconnected from the realities confronting many Nigerians.

‘He should constantly be working on how to bridge the gap between the rich and the poor. Unfortunately, he seems detached from the people each time you hear talk about his administration,’ Salis said.

He expressed concern over hunger across the country, saying the situation should be a major priority for the President as the custodian of the people’s mandate.

‘The truth is that people are dying of hunger across Nigeria and that should concern every Nigerian, especially the President who is the custodian of the people’s mandate,’ he said.

While acknowledging efforts by the government to reduce food prices, Salis argued that lower prices alone would not solve the problem if millions of Nigerians lacked the income and purchasing power to afford basic necessities.

‘It is true that government is bringing down the price of food, but you have to look at it from the angle of the income of the people. The bitter truth is that many people are so poor in Nigeria that they cannot buy such food because they lack the purchasing power,’ he said.

Salis said his location in the United States had not insulated him from the hardship in Nigeria, noting that he remained in regular contact with people affected by the economic situation.

‘Though I am in the United States, I feel the pinch of the suffering of the people because I interact with the people almost on a daily basis,’ he said.

He also identified corruption as a major obstacle to effective delivery of government programmes, alleging that resources intended for the people often fail to reach their beneficiaries.

‘Part of the problem is corruption because resources of state meant for the people hardly get to them,’ Salis said.

He argued that the wealthy were less affected by rising food costs, stressing that the greater challenge was ensuring that poor Nigerians could afford to feed themselves.

‘The rich people do not have the problem of food, but the real challenge is how to get food to the poor who cannot afford to eat,’ he said.

Salis also questioned the government’s handling of corruption allegations involving a former minister responsible for the welfare of poor Nigerians.

‘Remember a minister in charge of welfare of the poor was involved in corruption, but till today we have not heard that she has been sanctioned,’ he said.

He urged the Tinubu administration to demonstrate greater empathy with Nigerians, particularly when implementing reforms that impose significant short-term hardship, saying government must show citizens that it understands and shares their pain.

The Registrar, Joint Admissions and Matriculation Board (JAMB), Prof. Segun Aina, has resolved more than 5,000 pending complaints within five days, in a bid to improve service delivery to candidates.

ýThis is disclosed in a statement issued on Sunday in Abuja by the Acting Director, Public Affairs and Protocol, JAMB, Fabian Benjamin.

ýBenjamin said the development followed Aina’s decision to strengthen the Board’s Service Compact with All Nigerians (SERVICOM) Unit to ensure the prompt resolution of outstanding complaints.

ýHe said the Registrar had relocated his seat to the SERVICOM Unit to gain first-hand knowledge of the nature of services being sought by candidates and other clients and to facilitate the resolution of pending cases.

ýAccording to him, the move is in line with the Registrar’s Five Enduring Pillars, particularly the second pillar, ‘Service at Heart’.

He added that the Registrar’s move was to ensure his commitment to leveraging strategic communication to reposition the Board and deliver services commensurate with the fees paid by candidates.

ýHe noted that Aina had directed SERVICOM Desk Officers to address complaints holistically and promptly.

ýBenjamin said the directive had already begun to yield positive results, with more than 5,000 pending and unresolved complaints addressed within five days.

ýHe said the complaints covered a wide range of issues, including difficulties in creating profile codes by candidates who had previously registered with telephone numbers to which they no longer had access.

ýHe added that biometric verification challenges were also addressed, including genuine cases of biometric failures encountered during the Unified Tertiary Matriculation Examination (UTME) registration or examination.

ýHe further said that the Registrar also scrutinised the operations of the Central Admissions Processing System (CAPS), where issues relating to lost phones and SIM cards, candidates who converted from Direct Entry (DE) to UTME, and candidates omitted from the National Matriculation List after graduation were identified and addressed.

ýHe also noted that some previously unresolved payment-related issues were swiftly resolved, alongside complaints concerning inappropriate examination venues, e-PINs, technical challenges and difficulties with the uploading of documents.

ýAccording to him, other recurring complaints relating to changes of name, date of birth, state and local government of origin were also addressed.

ýThe acting director said the initiative underscored the Registrar’s commitment to placing candidates and other clients at the centre of the Board’s operations.

ýHe said JAMB would continue to strengthen its complaint-resolution mechanisms to ensure that candidates received timely and efficient services.ý

Nigeria basketball star Jordan Nwora has married his heartthrob in a beautiful ceremony held in the picturesque coastal town of Sitges, Barcelona, Spain.

The wedding, which took place on August 3, 2026, brought together family, friends and distinguished guests from different walks of life at an exquisite venue overlooking the Mediterranean Sea.

Among the guests were former Nigerian basketball figures and personalities, including the President of FIBA Africa Zone 3 Retired Colonel Sam Ahmedu and his wife, Fatima Ahmedu, who were part of the gathering to celebrate the union.

The occasion was particularly special for the couple, who were also celebrating their 40th wedding anniversary.

Nwora, one of Nigeria’s most accomplished basketball players of his generation, has carved a significant place for himself in the history of the national team.

He is D’Tigers’ all-time leading scorer and has represented Nigeria with distinction on the international stage.

The forward also etched his name in NBA history as a member of the Milwaukee Bucks team that won the 2021 NBA Championship.

Away from the basketball court, Nwora’s wedding marked a new chapter in his life as he exchanged vows with his partner in the serene surroundings of Sitges, with the Mediterranean providing a spectacular backdrop to the celebration.

The gathering reflected the strong connections Nwora has built across basketball and beyond, with prominent guests joining the couple to celebrate their special day.

The wedding festivities provided an opportunity for guests to celebrate not only Nwora’s personal milestone but also the remarkable journey of a player who has continued to make his mark in Nigerian and international basketball.

Warm wishes and congratulations have since poured in for Mr and Mrs Jordan Nwora as they begin their married life together.

The scenic town of Sitges, renowned for its Mediterranean coastline, added an unforgettable touch to an already memorable occasion.