Category: PM News

Lagos State Deputy Governor, Kadri Hamzat, has assured traders and business owners at Alaba International Market, Ojo, that the state government will proceed with the reconstruction and expansion of roads within the market once ongoing drainage projects are completed.

Hamzat gave the assurance on Friday at the unveiling of the New Face of International Market Electronics Association, held at the Colonade Hotel, Ikoyi, where he reiterated the administration’s commitment to providing infrastructure capable of supporting commerce and improving the quality of life of residents.

He explained that the decision to complete the drainage network before reconstructing the roads was deliberate, noting that effective flood control was essential to protecting the durability of any new road infrastructure in the market.

According to him, significant progress has already been made on the drainage projects, which are intended to improve water flow and address the persistent flooding challenges affecting parts of the market.

‘We must make sure that we move water,’ Hamzat said, explaining that the drainage works behind the market were already about 70 per cent complete.

He added that road reconstruction would commence after the drainage works were completed, stressing that the road network would also have to be expanded to accommodate the growing population and commercial activities within the market.

The deputy governor said the government remained committed to working with market leaders and other stakeholders to transform Alaba International Market into a more functional and sustainable commercial centre.

He assured traders that infrastructure development would remain a priority, particularly projects capable of improving mobility, reducing flooding and creating a more conducive environment for businesses to operate.

Hamzat’s remarks came amid calls from market stakeholders for urgent rehabilitation of roads within the sprawling electronics market, one of Lagos’ major commercial centres.

Speaking at the event, Senator Uzor Orji Kalu commended the Lagos State Government for its efforts to rehabilitate critical infrastructure around Alaba International Market.

Kalu stressed that effective governance should be measured by the delivery of projects that directly affect the lives and businesses of citizens, while commending the administration for its infrastructure focus.

He also described Hamzat as a leader with extensive experience in infrastructure development and an understanding of Lagos’ developmental needs.

He expressed confidence that continued engagement with communities across the state would help identify priority projects and accelerate socio-economic development.

In his welcome address, the President-General of Alaba International Market Electronics Association, Chief Camillus Amajuoyi, described the New Face of Alaba initiative as a major effort to reposition the market and improve its operating environment.

Amajuoyi said the initiative was designed to transform Alaba into a cleaner, safer, digitally driven and globally competitive commercial hub, capable of competing with leading markets around the world.

He said the vision was aimed at promoting integrity, discipline, innovation and adherence to global best practices while preserving Alaba’s longstanding reputation as a centre of entrepreneurship and economic opportunity.

The market leader commended the Lagos State Government for its investments in infrastructure and urban renewal, as well as policies he said had contributed to creating an environment in which businesses could thrive.

He, however, appealed to the government to expedite the provision of a motorable road network within the market, stressing that improved roads were critical to the movement of goods, customers and business activities.

Lagos State Governor, Babajide Sanwo-Olu, has ordered security agencies to track down and prosecute those responsible for vandalising the Festac-Alakija Bridge, describing the act as a criminal assault on critical public infrastructure.

Reacting to the incident on Friday, the governor condemned the destruction in strong terms, warning that the state would not tolerate acts of vandalism capable of endangering lives and undermining public investments.

‘Lagos will not tolerate any act of vandalism because it is barbaric and criminal,’ Sanwo-Olu declared.

The governor disclosed that officials from the Office of Infrastructure had carried out an immediate assessment of the damaged bridge and confirmed that its structural integrity remains intact despite the attack.

According to him, emergency remedial works will commence immediately to protect the affected bridge columns and prevent further deterioration.

Sanwo-Olu assured residents that anyone found culpable would face the full weight of the law, stressing that attacks on public assets constitute serious criminal offences.

He described the vandalism as ‘horrendous, shameful and condemnable,’ insisting that Lagos has no place for violence against critical infrastructure.

The governor also appealed to residents to remain vigilant and work with security agencies by safeguarding public facilities and reporting suspicious activities capable of threatening the state’s infrastructure.

He reaffirmed his administration’s commitment to protecting public assets and ensuring that investments in roads, bridges and other essential infrastructure continue to serve Lagosians safely and efficiently.

Fourteen residents of Abeokuta, the capital of Ogun State were on Friday sentenced to 14 days imprisonment for indiscriminate dumping of refuse on public roads and in drainages.

They were sentenced by Abeokuta Magistrates’ Court in sitting in Isabo.

The convicts are: Mr Soji Oloyede, Mrs Dayo Fasola, Mrs Maria Ogundimu, Mrs Ajoke Omotoke, Mrs Mustapha Kehinde, Mrs Bolanle Akingbola, Mrs Simbiat Idowu.

Others are Mrs Adeola Mustapha, Mrs Anu Adesanya, Mrs Ajoke Akinola, Mrs Chidinms Innocent, Mr Ismail Ali, Mrs Adetola Meshioye and Mrs Rasidat Taiwo.

The convicts had pleaded guilty to the two-count charge of unlawful refuse dumping and accumulation of waste on public roads and drains levelled against them.

Delivering judgment, Magistrate O.O. Sam-Obaleye sentenced each of the defendants to 14 days in the correctional centre.

The magistrate, however, gave the convicts an option of N10,000 fine each after they pleaded guilty to the charges.

Earlier, the prosecutor, Insp. Evelyn Motim, told the court that the convicts committed the offences on Aug. 6, between 6:30 a.m. and 8:05 a.m., in different parts of Abeokuta.

Motim, said the convicts were arrested by public health officials during a routine early morning inspection/patrol.

She said that the defendants dumped refuse on public roads which emitted offensive odour and attracted flies capable of spreading diseases, including cholera.

She added that they also accumulated and disposed refuse on public roads and drains, thereby exposing the areas to flooding and endangering lives and property.

The prosecutor said the offences were committed at Idi-Aba, Ago-Oko, Abiola Way, Sapon, Isale-Igbein, Oke-Ijeun, Olokuta, Imo, Oke-Itokun, Ijaiye, Obafemi, Garage, Elite and Grammar School areas of Abeokuta.

According to her, the offences contravened Section 34(1) of the Ogun State Waste Management Authority Law, 2020, and relevant provisions of the Ogun State Public Health Law, 2020.

The Kogi Government has ordered arrest of a leader of a vigilante group and others after death of a herder led to reprisal killings in Abugi, Kuchinda and Mikugi communities of Kupa Kingdom, Lokoja Local Government Area of the state.

This was revealed in a statement issued to commiserate with families of victims of reprisal killings by the state government on Thursday.

Kogi Commissioner for Information and Communications, Mr Kingsley Fanwo who signed the statement vowed that all perpetrators of the reprisal killings would be apprehended and prosecuted.

He described the incident as tragic, senseless and unacceptable, stressing that no misunderstanding should result in the loss of innocent lives.

Fanwo said Gov. Ahmed Ododo extended heartfelt condolences to the bereaved families and the entire Kupa Kingdom, praying for the peaceful repose of the deceased and comfort for those left behind.

According to him, preliminary reports showed that the crisis began after an unarmed herder was allegedly shot and killed by a member of the local vigilante on suspicion of cattle rustling.

The commissioner said the killing was followed by a reprisal attack allegedly carried out by armed persons, who targeted innocent residents of Abugi, Kuchinda and Mikugi, resulting in multiple deaths and heightened tension in the area.

‘The Kogi government condemns in the strongest terms, both the killing of the unarmed herder and subsequent reprisal attack.

‘These are criminal acts that have no place in our society.

‘Anyone found to have participated in either incident, regardless of status or ethnic affiliation, will face the full wrath of the law,’ Fanwo stated.

The commissioner disclosed that the governor has directed security agencies to take control of the affected communities, restore peace and prevent further breakdown of law and order.

‘The governor has ordered the immediate arrest of the vigilante member, alleged to have killed the herder, as well as those behind the reprisal attack, including the leader of the Hybrid Vigilante Group suspected to have coordinated the assault.’

He appealed to residents to remain calm and resist reprisals, and urged members of the public to cooperate with security agencies by providing credible information to aid investigations and arrests.

He said the state government is working closely with security agencies, traditional rulers, community leaders and other stakeholders to restore lasting peace across Kupa Kingdom and rebuild confidence among affected communities.

The commissioner reiterated the Ododo administration’s commitment to protecting every resident of Kogi

He stressed that government will continue to uphold justice, strengthen peaceful coexistence and ensure that criminals have no hiding place in the state.

Nigerian troops have neutralised nine terrorists in a precision airstrike in Borno and apprehended six suspected kidnappers and terrorist logistics suppliers receiving treatment for gunshot wounds in Plateau.

The piece of information is in a Military Operational Report made available to the News Agency of Nigeria (NAN) on Friday.

The report stated that the successes were recorded during ongoing operations across the North-East, North-Central and other theatres.

It noted that an Air Interdiction Mission, codenamed GUARDIAN, tracked three motorcycles conveying nine terrorists around Mai Hisari Arege in Abadam Local Government Area of Borno.

It added that the aircraft conducted a precision strike, destroying the motorcycles and neutralising all nine terrorists.

The report also revealed that troops of Operation SAFE HAVEN arrested six suspected kidnappers and terrorist logistics suppliers at a hospital in Jos South Local Government Area.

It said the suspects, who were receiving treatment for gunshot and machete wounds, are in military custody for further investigation.

‘Troops also arrested a Fulani youth leader in Kauru Local Government Area of Kaduna over alleged links to a recent terrorist attack on Naridon Community.

‘In Benue, troops conducting offensive operations in Ukum Local Government Area made contact with suspected terrorists, killing one while others fled.

‘The troops recovered a locally fabricated pistol, a motorcycle and other items during the operation.

‘Meanwhile, troops responding to an attack on herders in Guma Local Government Area of Benue arrested a suspect accused of macheting a herder, while the injured victim was evacuated for medical treatment,’ it said.

The Nigerian Exchange Group (NGX) said reforms introduced by President Bola Tinubu have helped boosted market capitalisation of listed companies from N30 trillion in May 2023 to over N150 trillion.

‘In May 2023, when Mr President came into office, the market capitalisation was just shy of N30 trillion. Today, that figure is over N150 trillion,’ NGX Group Managing Director and Chief Executive Officer, Mr Temi Popoola, disclosed on Thursday.

He spoke after NGX and Securities and Exchange Commission officials met President Bola Tinubu at the presidential villa, Abuja.

The delegation briefed the President on capital market performance, growth prospects and measures required to deepen participation and attract more investors.

He cited fuel subsidy removal, foreign exchange reforms and the Investment and Securities Act signed into law in 2025.

Popoola also highlighted banking sector recapitalisation and digital transformation initiatives aimed at broadening access to capital market opportunities.

‘The banks have raised over N4 trillion and before the end of this year maybe over N5 trillion, mostly from domestic investors,’ he said.

Popoola said market capitalisation could reach about N230 trillion by the end of 2026, driven by anticipated major listings.

He identified the proposed listing of the Dangote Refinery among developments expected to further boost market value and investor confidence.

According to him, the growth has created substantial wealth for investors and businesses across the country.

Popoola estimated that between 500,000 and 900,000 new millionaires had emerged through gains recorded in the capital market.

He added that earnings of many listed companies had risen sharply, with some firms recording up to five-fold growth since 2023.

The NGX chief attributed the market expansion to key reforms introduced under the Tinubu administration.

He said the delegation presented a vision of a capital market capable of financing infrastructure and supporting Nigeria’s one-trillion-dollar economy ambition.

Popoola noted that Nigeria could become a major financing hub for Africa if current reforms and policies were sustained.

He said NGX urged the Federal Government to accelerate privatisation and list stakes in major national assets.

The assets proposed for listing include Nigeria LNG, Indorama and selected Nigerian National Petroleum Company Ltd. assets.

‘We pressed Mr President to consider support for government stakes in these companies to come to the market,’ he said.

Popoola said the exchange also requested incentives to encourage more private firms to list locally rather than seek foreign listings exclusively.

He disclosed that Tinubu assured the delegation of his support and commitment to policies that would deepen market development.

Earlier, NGX Group Chairman, Alhaji Umaru Kwairanga, said the Nigerian market was recently ranked among the world’s best-performing exchanges.

He attributed the achievement to the administration’s economic reforms and increased investor confidence in the Nigerian economy.

‘We are coming from less than N50 trillion to today over N150 trillion and we are still growing.

‘These are all part of the success stories of what Mr President has done,’ he said.

Kwairanga said the President also expressed support for listing additional national assets to broaden wealth creation opportunities.

Also speaking, SEC Director-General, Dr Emomotimi Agama, reaffirmed the commission’s commitment to market stability and sustained growth.

‘We will do our best as regulators to provide an enabling environment for participants in the Nigerian capital market,’ Agama said.

He thanked investors for their confidence and expressed optimism that the market would continue contributing significantly to economic growth.

Kwara State Governor, AbdulRahman AbdulRazaq, on Friday formally received 163 kidnap victims rescued by a combined team of security agencies, describing the operation as a major milestone in the fight against kidnapping and terrorism in Nigeria.

The victims, who were abducted during the February 3, 2026 terrorist attack on Woro community in Kaiama Local Government Area, were handed over to the state government by the Nigerian Army in Ilorin after spending 48 hours receiving medical treatment and trauma care at various health facilities on the governor’s directive.

Speaking during the handover ceremony, AbdulRazaq congratulated President Bola Tinubu on what has been described as Nigeria’s largest single-day hostage rescue operation, praising the intelligence-led mission and the renewed synergy among the military and other security agencies.

The governor also commended the Nigerian Army and other participating security agencies for their professionalism, courage and sacrifice, saying their coordinated efforts had restored hope to families who had endured months of uncertainty.

He assured the victims of the state government’s continued support, pledging comprehensive medical care, psychosocial counselling and rehabilitation to aid their recovery and reintegration into society.

The rescue formed part of a broader operation in which 308 abductees were freed from forest hideouts across Kwara and neighbouring Niger State, including 145 victims rescued from Niger, in an operation President Tinubu hailed as the country’s biggest same-day recovery of kidnap victims.

The victims from Kwara had spent about six months in captivity after gunmen attacked Woro community, killing scores of residents and abducting hundreds during one of the deadliest attacks recorded in the state this year.

However, community leaders disclosed that 13 persons remain unaccounted for, urging security agencies to sustain search-and-rescue operations until every abductee is brought home.

They also revealed that some women gave birth while in captivity, underscoring the prolonged ordeal endured by many of the victims.

AbdulRazaq reaffirmed his administration’s commitment to supporting security operations and strengthening collaboration with federal authorities to eliminate criminal groups threatening communities across the state.

President Bola Tinubu has praised Nigeria’s Economic Management Team and the Nigerian Exchange Group (NGX), saying their efforts have helped restore confidence in the economy and triggered remarkable growth in the nation’s capital market.

Receiving the NGX board and management at the State House in Abuja on Thursday, the President said recent improvements in key economic indicators and favourable assessments from experts showed that the country’s economic outlook was improving.

An NGX delegation led by Chairman, Dr Umaru Kwairanga, and Group Managing Director and Chief Executive Officer, Temi Popoola, informed the President that the value of the exchange had grown from about N30 trillion in 2023 to N160 trillion.

Tinubu said the gains reflected the impact of reforms introduced by his administration, which he noted were designed in line with global best practices to lay the foundation for long-term economic growth.

He singled out members of the Economic Management Team, including the Minister of Finance and Coordinating Minister of the Economy, Taiwo; Oyedele, Minister of Budget and Economic Planning, Atiku Bagudu; Central Bank Governor, Yemi Cardoso; and Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, for commendation.

Reflecting on the early days of his administration, the President said the economy he inherited posed serious challenges.

‘When we took over, it was very challenging. I had to talk to myself and define my background to accept the assets and liabilities of my predecessor. I asked for the job, and I have to do it,’ Tinubu said.

He also applauded Cardoso’s role in implementing monetary reforms and reiterated his support for the government’s economic team.

‘If the stock market is doing well, then we are doing well. Nigeria can build a nation of prosperity by itself,’ he said.

Tinubu stressed that greater private sector investment would create jobs and drive development, maintaining that his administration’s ambition of building a one trillion dollar economy remained achievable. He also disclosed that the Nigerian National Petroleum Company Limited would eventually be listed on the Nigerian capital market.

A Federal High Court, sitting in Ikoyi, Lagos, has convicted and sentenced four persons for their involvement in a money laundering scheme involving $5,296,691 million.

The convicts; Bamidele Ayodele Emmanuel, Abdullah Oriyomi Yusuf, Garuba Fathiat Funmilayo, and Gbenro Victor Ademola were separately arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a two-count charge bordering on money laundering, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

Dele Oyewale, EFCC head of media and publicity in a statement on Friday said the suspects were convicted and sentenced on Wednesday, 5 July.

One of the charges against Bamidele Ayodele Emmanuel reads: ‘That you, BAMIDELE AYODELE EMMANUEL, between January 1 and January 31, 2025, in Lagos and within the jurisdiction of this Honourable Court, directly retained the sum of $826,691 (Eight Hundred and Twenty-Six Thousand, Six Hundred and Ninety-One United States Dollars) in your account, No. 0126008755, domiciled with Wema Bank, which you reasonably ought to have known formed part of the proceeds of an unlawful act, and you thereby committed an offence contrary to and punishable under Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.’

The defendants pleaded guilty when the charges were read to them.

Following their guilty pleas, the prosecution counsel, Bilkisu Buhari, reviewed the facts of the cases before the court.

She told the court that investigations revealed the defendants sold their personal information to one Afeez Animashaun, who approached them at Mushin Market in Lagos, where they conduct their businesses.

Buhari further disclosed that investigations established that the defendants’ identities were used to incorporate College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited, and Fixit Hardware and Tools Nigeria Limited, and to open corporate bank accounts, which were subsequently used by those companies to receive millions of dollars in January 2025.

She urged the court to convict the defendants as charged and impose appropriate sentences.

Delivering judgment, Justice F.N. Ogazi of found all four defendants guilty on the second count only out of the two counts preferred against them and sentenced them accordingly.

Bamidele Ayodele Emmanuel was sentenced to four months’ imprisonment, followed by three months of community service.

He was also ordered to forfeit ?1 million to the Federal Government of Nigeria.

Garuba Fathiat Funmilayo received a four-month prison sentence, 15 months of community service, and was ordered to forfeit ?1 million to the Federal Government within 72 hours.

Abdullah Oriyomi Yusuf was sentenced to four months’ imprisonment, three months of community service, and ordered to forfeit ?800,000 to the Federal Government.

Gbenro Victor Ademola was sentenced to four months’ imprisonment, three months of community service, and ordered to forfeit ?700,000 to the Federal Government within 72 hours.

The court also ordered the convicts to partner with the EFCC in creating public awareness and advocacy on the dangers of selling and giving out personal data to other persons indiscriminately.

The National Drug Law Enforcement Agency (NDLEA), Kano Strategic Command, has dislodged six notorious drug hotspots in the state, arresting 15 suspects and recovering various illicit substances.

The command’s Public Relations Officer, Mr Sadiq Muhammad-Maigatari, disclosed this in a statement issued on Thursday in Kano.

Muhammad-Maigatari quoted the State Commander of NDLEA, Mr Dahiru Yahaya-Lawal, as saying that the arrests followed intelligence-led assessments of locations linked to drug trafficking and substance abuse.

Yahaya-Lawal said the operation formed part of sustained efforts to dismantle drug networks and curb the spread of illicit substances across the state.

He said: ‘We remain steadfast in our commitment to sustaining pressure on drug hotspots within Kano and beyond.

‘While we continue to employ targeted enforcement operations, we are also intensifying non-kinetic strategies, including public sensitisation and community partnerships, to address the root causes of substance abuse.’

The commander said the operatives recovered cannabis sativa, pentazocine injections, pregabalin and Exol-5 tablets during the raids.

He warned those involved in the illicit drug trade to desist, stressing that the agency would not allow criminal elements to operate with impunity.

‘All those engaged in this illicit business will never see peace unless they repent and embrace legitimate enterprise,’ Yahaya-Lawal said.

He added that investigations were ongoing and that the suspects would be charged in court upon conclusion of the process.

Yahaya-Lawal also appealed to residents to support the agency by providing credible information that could assist in identifying and dismantling other drug networks in the state.