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The Nigeria Revenue Service (NRS) and the Bureau of Public Procurement (BPP) have intensified efforts to align procurement processes with current realities and ongoing reforms.

On Tuesday in Abuja, the two agencies began discussions on the proposed amendment of the Public Procurement Act, 2007.

Speaking during a strategic engagement between the agencies at the NRS headquarters in Abuja, the Executive Chairman of the NRS, Zacch Adedeji, explained that the proposed amendment would help address challenges in public procurement and ensure that government spending delivers value to Nigerians.

Adedeji solicited contributions from stakeholders to the review, noting that a technical committee would be needed to examine the law and identify areas requiring amendment.

‘We need to look at the Public Procurement Act and see how we can revalidate it to reflect the current realities. This is an engagement, and we need everybody to contribute to the process.

‘We are just starting this engagement, and we need to set up a technical committee that will look at the Act and make recommendations on what needs to be done.’

Adedeji emphasised that effective procurement was essential to ensuring that public funds were properly utilised.

‘When people pay taxes, they expect to see the value of what they have paid for. If projects are abandoned or do not deliver what they are meant to deliver, then the money collected from the people has not achieved its purpose,’ he said.

In his address, the Director-General of the BPP, Dr Adebowale Adedokun, expressed the bureau’s commitment to supporting reforms that would improve public procurement and accelerate project delivery.

Speaking on the proposed bill, Adedokun noted that the amendment would provide an opportunity for Nigeria to address challenges in the existing framework and introduce measures to make procurement more responsive to government and economic needs.

‘The Bureau of Public Procurement is not a bottleneck. We are an enabler. We are here to solve problems and ensure that procurement supports the delivery of government projects,’ he said.

‘We want to have a system where the entire procurement process, from needs assessment to payment, can be digitised. This will improve transparency, accountability and efficiency in the way government conducts procurement.’

He reaffirmed the importance of electronic procurement, community-based procurement, sector-specific procurement and affirmative procurement for youths, persons with disabilities and veterans among the reforms being considered.

Adedokun stressed that procurement decisions should prioritise value for money rather than simply choosing the lowest bidder.

‘We are not after the lowest cost; we are after value for money. The objective is to ensure that what government pays for delivers the quality and benefits expected.’

The Director-General said that reviewing procurement thresholds and approval limits could help accelerate project execution while maintaining compliance with established rules.

The Makinde-Daura Presidential Campaign Organisation (MDPCO) has urged the Economic and Financial Crimes Commission (EFCC) to investigate claims that serving ministers paid billions of naira to secure appointments under President Bola Tinubu’s administration.

MDPCO is the campaign organisation of the Allied Peoples Movement (APM) presidential candidate, Oyo State Governor Seyi Makinde.

The organisation made the call in Abuja on Tuesday through its Director of Strategic Communications, Mr Richard Ihediwa, following a revelation by Alwan Hassan, a spokesperson for the Tinubu Presidential Campaign Council, that ministers paid huge sums to secure their appointments and were seeking to recoup their investments.

Speaking on Arise News’ Prime Time, Hassan said, ‘A lot of ministers pay billions and billions… to get themselves appointed. The first thing they think of is how to recoup that money.’

When challenged that his comments implicated ministers appointed by the APC and Tinubu administration, he replied, ‘It is the truth I am telling you about our country. Not just APC. Before APC, the biggest fraudulent people you arrest after every government are ministers.’

The MDPCO expressed concern over what it described as the Tinubu Presidency’s silence five days after the revelation was made on national television, saying the development had raised questions about transparency and accountability in the appointment process.

It stated, ‘The EFCC must identify all those involved in this bribe-for-appointment scandal and ensure that anyone found culpable is held accountable in accordance with the law.’

The organisation added, ‘Mr President’s silence validates public apprehension that either he is not in control or he sits in approval of a corrupt and fraudulent system where public offices are reduced to commodities sold to the highest bidders.’

It further said, ‘Perhaps the Tinubu Presidency believes that if it keeps mum, this scandal would be swept under the carpet like other corruption matters dogging this administration.’

The MDPCO also alleged that key APC leaders in the National Assembly, presidential aides and individuals close to the President wielded undue influence over government affairs, contributing to poor appointments and the misuse of public resources.

It blamed the administration for what it described as worsening insecurity and economic hardship, as well as Nigeria’s estimated $2.3 trillion infrastructure deficit, which it said would require about $100 billion annually over the next 30 years to address.

The organisation further claimed that public funds, including proceeds from external borrowing, were being exploited for personal gain by some government appointees.

Looking ahead to the 2027 presidential election, the MDPCO urged Nigerians not to lose confidence in the country, describing the poll as an opportunity for national renewal.

It said a government led by the APM presidential candidate, Engr. Seyi Makinde, and his running mate, Alhaji Lawal Daura, would implement a four-year Reset Nigeria agenda focused on transparency, accountability, service delivery and citizens’ welfare.

The organisation called on Nigerians to vote for Makinde in the January 16, 2027, presidential election, pledging that an APM-led administration would prioritise honesty, openness and the public interest.

Oyo State Governor, Seyi Makinde, has said the state ranks third in Nigeria’s Ease of Doing Business ranking, attributing the achievement to deliberate government policies and sustained investment in economic infrastructure.

Makinde urged stakeholders in the business community to sustain the progress and maximise available opportunities, stressing that economic prosperity depends on the ability to translate opportunities into tangible benefits.

The governor spoke on Tuesday at the opening ceremony of the 2026 Oyo State International Trade Fair, held at the Permanent Trade Fair Complex, Samonda, Ibadan.

The fair, jointly organised by the Oyo State Government and the Oyo State Chamber of Commerce, Industry, Mines and Agriculture (OYCCIMA), is themed ‘Trade Without Borders: Connecting Oyo Entrepreneurs to Africa’s Business Opportunities.’

Represented by the Commissioner for Investment, Trade, Cooperatives and Industry, Prof. Salihu Adelabu, Makinde called for stronger collaboration between the government and chambers of commerce to ensure effective policy implementation and sustainable economic growth.

He said Oyo State’s seven geopolitical zones were interconnected, creating opportunities for expanded economic activities, investment and trade.

The governor also highlighted the state’s membership of the African Continental Free Trade Area (AfCFTA), describing it as an opportunity to position local businesses for greater participation in continental trade.

He said the theme of the fair reflected the growing need for collaboration in an increasingly interconnected world, urging OYCCIMA to strengthen its relationships with the West African Chamber, the Pan-African Chamber and the World Chamber of Commerce.

According to him, the state government and OYCCIMA must work together to create economic value, generate employment and support entrepreneurs.

‘OYCCIMA and the Oyo State Government are mutually dependent and must work together to create value, generate employment and support entrepreneurs,’ the governor said.

In his remarks, the Permanent Secretary of the ministry, Mr Olajide Okesade, who also represented the commissioner, reaffirmed the government’s commitment to economic growth through collaboration, value addition and the promotion of locally made products, particularly in the agricultural sector.

He said strengthening local production and adding value to agricultural produce would help expand economic opportunities and improve the competitiveness of businesses in the state.

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Engr. Dr Jani Ibrahim, represented by Chief Kola Akosile, described the trade fair as an important platform for enterprise development, the promotion of Nigerian products and services, and the strengthening of investment partnerships.

He said the theme was timely and aligned with the objectives of AfCFTA, which provides access to a continental market of about 1.4 billion people, with a combined gross domestic product estimated at $3.4 trillion.

Ibrahim reaffirmed NACCIMA’s commitment to advocating policies that would improve the business environment, support micro, small and medium-sized enterprises (MSMEs), and strengthen partnerships among government agencies, financial institutions, development partners and private businesses.

Earlier, the President of OYCCIMA, Mr Niran Adewoyin, said the 2026 trade fair was designed to move beyond conventional exhibitions and promote economic integration, market expansion, innovation and sustainable prosperity.

Adewoyin commended Makinde for providing an enabling environment for local industries and investors to grow, expand their operations and contribute to the state’s economy.

He assured participants that the chamber would continue to serve as a bridge between the government and the business community.

In separate goodwill messages, the President of the Ibadan Chamber of Commerce, Industry, Mines and Agriculture (IBCCIMA), Chief Emmanuel Ogunnaike, and the Babaloja-General of Oyo State, Alhaji Yekeen Abass, called on the government to protect farmers’ interests and adopt proactive measures to safeguard lives and property.

The event attracted exhibitors, traders, market leaders, government officials and other stakeholders from the public and private sectors.

The Federal Government has agreed to commence minimum wage negotiations immediately and approved a N70,000 transport intervention for workers for six months, beginning from November 2026, following a conciliation meeting with the leadership of the Nigeria Labour Congress (NLC).

The agreement came amid demands by organised labour for urgent government action on workers’ welfare, including a reduction in petrol pump prices, improved wages, tax relief and the resolution of outstanding allowances affecting public servants.

The resolutions were reached at a meeting convened by the Federal Ministry of Labour and Employment in Abuja on Tuesday, October 27, 2026, as a follow-up to an earlier conciliation meeting held on October 22 to address issues raised by the NLC over the deteriorating economic conditions facing Nigerian workers.

Under the agreement, the Minimum Wage Negotiation Committee is to be constituted and commence meetings immediately. However, the parties acknowledged that they had yet to agree on the effective date of implementation of a new minimum wage.

The communiqué stated: ‘It was agreed that the Minimum Wage Negotiation Committee would be constituted and commence meeting immediately. It should, however, be noted that there is a disagreement on the effective date of implementation.’

The N70,000 transport intervention is among the measures agreed upon to cushion the effects of prevailing economic challenges on workers. The intervention is scheduled to run for six months from November 2026.

However, the payment terms, including confirmation that the N70,000 is payable monthly to each eligible worker, require further clarification to establish the precise scope of the intervention.

The parties also agreed on the payment of arrears of peculiar allowances, which the Federal Government had approved with effect from May 1, 2026. Payment of the outstanding amounts is to commence in November and be made in three equal monthly instalments.

In another commitment to public-sector workers, the government agreed to redeem 19 months of outstanding allowances owed to health workers within three months, beginning from December 2026.

The resolutions also addressed the long-standing demand for an adjustment of the Consolidated Health Salary Structure (CONHESS), which affects health-sector workers under the Joint Health Sector Unions (JOHESU).

On the issue, the National Salaries, Incomes and Wages Commission (NSIWC) undertook to complete an updated assessment of the cost implications of the proposed CONHESS adjustment within three weeks.

The assessment is expected to enable the Presidential Committee on Salaries to consider and take a decision on the adjustment.

For agricultural workers seeking hazard allowances, the meeting was informed that the Federal Ministry of Agriculture and Food Security had submitted the list of beneficiaries and the associated cost implications to NSIWC for verification.

The verification is expected to be completed within two weeks, after which the commission is to issue an implementation template.

The demand for tax relief for workers, however, remains unresolved. The meeting agreed that the matter should be referred to the National Executive Council (NEC), noting that taxation is a statutory matter.

The conciliation followed concerns expressed by the NLC leadership over the Federal Government’s handling of the issues raised by organised labour.

In response, the Federal Government reaffirmed its respect for the right of the Congress to advocate improved working conditions for Nigerian workers, stating that it was making efforts to address the issues through structured interventions.

The parties urged state and local governments to participate in the intervention process, while unions were encouraged to sustain efforts towards securing the implementation of the resolutions.

They further agreed to reconvene after one month to assess the level of implementation of the commitments.

The reconciliation agreement was signed on behalf of the Federal Government by the Director-General of the Budget Office, Tanimu Yakubu; the Permanent Secretary, Service Welfare Office, Office of the Head of the Civil Service of the Federation, Dr. Garba Abdul S.U.; and the Minister of Labour and Employment, Dr. Muhammad Maigari Dingyadi, CON.

On the labour side, the signatories were the NLC President, Comrade Joe Ajaero, and the National Secretary of the Joint National Public Service Negotiating Council (JNPSNC), Comrade Olowoye Gbenga.

The African Democratic Congress Presidential Campaign Council (ADC-PCC) has condemned President Bola Ahmed Tinubu’s request for National Assembly approval to borrow an additional $20 billion and £1 billion.

The council described the move as reckless and a dangerous step towards economic recolonisation.

The ADC-PCC said the fresh borrowing request came at a time when Nigerians were struggling with the consequences of the administration’s economic policies, including soaring living costs and the removal of fuel subsidies.

The council expressed concern that the administration continued to pursue additional borrowing without providing a transparent account of how previous loans and savings from subsidy removal had been utilised.

Speaking on the development, the Director of Media and Publicity of the ADC-PCC, Kola Ologbondiyan, said it was alarming that the administration was seeking additional foreign loans despite the economic burden on Nigerians.

‘What exactly is President Tinubu borrowing all this money for? Where are the roads, the electricity, the hospitals, the jobs and the critical infrastructure that should justify this relentless accumulation of debt? Nigerians deserve answers,’ Ologbondiyan said.

‘Where is the money saved from fuel subsidy removal? What happened to previous loans? And why must the government return to the international credit market with another $20 billion and £1 billion when millions of Nigerians are struggling to survive?’

He said the development raised questions about the administration’s fiscal priorities and commitment to accountability.

‘This is not a sustainable path to national development. It is a dangerous attempt to mortgage the future of Nigeria and generations yet unborn. A country cannot continue to accumulate foreign debt without a clear, measurable and transparent account of the benefits accruing to its citizens,’ he said.

‘President Tinubu cannot continue to impose painful economic sacrifices on Nigerians, claim the benefits of subsidy removal and, at the same time, seek enormous additional loans without adequately explaining how resources already available to his government have been spent.’

The ADC-PCC argued that an economic strategy built primarily on borrowing and increased taxation, without corresponding improvements in productivity, infrastructure and citizens’ welfare, risked pushing the country deeper into a debt trap.

It warned that excessive dependence on foreign creditors could expose Nigeria to mounting debt-servicing obligations and undermine the country’s economic sovereignty.

The council said the administration must demonstrate how the proposed borrowing would contribute to productive investment and improved living standards.

‘The sovereignty of Nigeria must not be compromised by fiscal recklessness. Our national assets, economic independence and the welfare of future generations must not become casualties of an endless borrowing spree,’ Ologbondiyan said.

The ADC-PCC therefore called on the National Assembly to subject the proposed borrowing to rigorous scrutiny and reject it unless the Federal Government provided compelling evidence of its necessity and tangible benefits to Nigerians.

It also demanded that President Tinubu publish a comprehensive account of all domestic and foreign borrowing undertaken since May 29, 2023, alongside a detailed breakdown of revenue realised from subsidy removal and how the funds had been utilised.

The council further called for full disclosure of the proposed loans’ purposes, interest rates, repayment periods, associated fees and conditions.

‘Nigeria cannot borrow its way out of poor economic management. Borrowing must be tied to clearly defined national priorities, transparent expenditure and measurable outcomes,’ it stated.

‘The National Assembly must not abdicate its oversight responsibilities. It must insist on accountability.’

Rivers State Governor, Siminalayi Fubara, on Tuesday warned members of his Simplified Movement who had joined the Rainbow Coalition that he was not their leader, insisting that the Minister of the Federal Capital Territory (FCT), Nyesom Wike, remained their leader.

Fubara made the statement during the official unveiling of the Rainbow Coalition at the Yakubu Gowon Stadium in Port Harcourt, the state capital.

The event brought together political stakeholders from the All Progressives Congress (APC), Peoples Democratic Party (PDP), Labour Party (LP), Action Alliance (AA), All Progressives Grand Alliance (APGA), Allied Peoples Movement (APM) and other groups under the coalition founded by Wike to mobilise support for President Bola Tinubu’s re-election and other candidates ahead of the 2027 general elections.

Addressing the gathering, Fubara urged his former support base to fully align with the coalition’s leadership structure.

‘I’m not your leader. Wike is your leader,’ Fubara declared, clarifying his position on members of the Simplified Movement now operating within the Rainbow Coalition.

The governor, who had earlier publicly declared his return to his political family and endorsed the coalition, reiterated that the era of political conflict in the state was over.

He called for full support for the coalition’s candidates, including APC governorship hopeful Kingsley Chinda, popularly known as OK Chinda, and stressed the need for unity to advance the interests of Rivers State.

The Rainbow Coalition’s unveiling ceremony featured the formal presentation of preferred candidates across party lines for the 2027 elections, with organisers describing the platform as a vehicle for peace, progress and credible elections in the state.

Fubara’s remarks come amid ongoing efforts to consolidate reconciliation between his camp and Wike’s political structure following previous tensions in Rivers State politics.

The gathering of different political parties under one umbrella to pursue the common goal of securing President Tinubu’s re-election further underscored the coalition’s stated objective of strengthening support for the President and consolidating Wike’s political influence ahead of the 2027 elections.

The Nigerian equities market gained ?1.75 trillion in value on Tuesday as a strong rally in industrial goods stocks lifted the benchmark index, pushing the market’s year-to-date return to 63.22 per cent despite persistent selling pressure across several listed companies.

The Nigerian Exchange All-Share Index rose by 1.07 per cent to close at 253,990.06 points, while market capitalisation increased to ?164.91 trillion from the previous session’s level.

The latest gain extended the market’s positive performance, with the industrial goods sector providing the strongest support after its index advanced by 5.50 per cent, outweighing losses in insurance, oil and gas, and commodity stocks.

However, market breadth remained weak, reflecting the uneven distribution of gains across listed equities. Only 20 stocks appreciated, against 36 decliners, leaving market breadth at 0.56 times and indicating that the benchmark’s advance did not reflect the performance of the broader market.

UPDC Real Estate Investment Trust, Dangote Cement, Honeywell Flour Mills, Africa Prudential and Nigerian Aviation Handling Company emerged among the session’s leading gainers, while Presco, Tripple Gee and Company, Thomas Wyatt Nigeria, Austin Laz and Company, and Transnational Corporation of Nigeria recorded the biggest losses.

Sectoral performance was mixed. Beyond the 5.50 per cent advance in industrial goods, the consumer goods index gained 0.05 per cent, while the banking index edged up by 0.01 per cent.

On the losing side, the insurance index declined by 2.44 per cent, making it the worst-performing sector during the session. The commodity index fell by 1.04 per cent, while the oil and gas index shed 0.01 per cent.

Trading activity recorded sharp increases in both volume and transaction value, although the number of deals declined, suggesting that turnover was concentrated in fewer transactions involving substantially larger quantities of shares.

A total of 35,946 deals involving 5.23 billion shares valued at ?441.47 billion were recorded on the Exchange.

Trading volume surged by 1,488.14 per cent, while transaction value jumped by 1,634.62 per cent compared with the preceding session. In contrast, the number of deals fell by 17.74 per cent.

The simultaneous increase in volume and value, alongside the decline in deal count, marked a significant shift in trading activity. However, the figures alone do not establish whether the surge reflected institutional transactions, block trades or other large-volume deals.

The market’s latest performance comes amid continued investor positioning in selected equities, with price movements reflecting differences in demand across sectors and individual stocks.

While the benchmark’s advance points to renewed buying interest, the negative market breadth suggests that investors remained selective, with losses in 36 stocks outnumbering gains by 16.

Market analysts expect the equities market to sustain its positive momentum in the near term, supported by renewed buying interest, bargain-hunting opportunities and investor preference for companies with strong fundamentals.

The All-Share Index’s 63.22 per cent year-to-date return nevertheless underscores the scale of the market’s advance in 2026, even as Tuesday’s trading session showed that the gains were not shared evenly across the market.

The Sokoto State House of Assembly has passed the State Police Bill, joining other state legislatures in the ongoing effort to decentralise Nigeria’s policing system amid persistent security challenges.

The bill was passed unanimously during plenary on Tuesday, presided over by the Speaker, Tukur Bala Bodinga.

Confirming the development, Bodinga told our correspondent that the lawmakers had approved the bill, adding that an official statement would be released shortly.

‘Yes, we have passed the bill today. You will see the statement any moment from now,’ the Speaker said.

The development comes amid growing calls for the restructuring of Nigeria’s security architecture, particularly in the North-West, where banditry, kidnapping and other violent crimes continue to threaten lives and property.

Proponents of state police argue that decentralising police operations would enable security agencies to respond more quickly to threats, improve intelligence gathering and strengthen collaboration with local communities.

They also contend that police officers operating within their respective states would be better positioned to understand the local terrain, identify emerging security threats and prevent criminal activities.

However, the proposed policing system has raised concerns over potential political interference, funding, operational independence and the protection of citizens’ fundamental rights.

Experts have stressed that effective implementation would require adequate funding, professional training, independent oversight and robust accountability mechanisms to prevent abuse of power and ensure respect for the rule of law.

The passage of the bill by the Sokoto Assembly marks a step in the ongoing efforts to establish state police through the constitutional amendment process.

The National Assembly had earlier forwarded the proposed state police framework to state legislatures for consideration as part of the process of amending the Constitution to permit the establishment of state police.

The Sokoto Assembly is expected to issue an official statement providing further details on the bill’s passage.