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The Concerned Taraba Youth Group has appealed to Governor Agbu Kefas to align politically with President Bola Tinubu by joining the All Progressives Congress (APC), saying such a move would help attract more federal projects to the state.

Speaking at a press conference in Jalingo on Saturday, the group said the governor’s alignment with the federal government could help revive key infrastructure and accelerate the completion of projects such as the Mambilla Hydro Power Project.

The group’s spokesperson, Comrade Shedrack Iremiya Gani, expressed concern over what he described as the neglect and abandonment of several federal projects in Taraba, blaming it on the state’s lack of political alignment with the ruling party.

He said, ‘Considering the continued deterioration and the abandoned state of federal projects in Taraba, we wish to appeal to Governor Agbu Kefas to align with President Bola Tinubu to attract federal presence in the state.

‘We want the governor to make history by living the PDP and align with Tinubu in the APC. We believe that these steps will attract positive development like the actualization of the long anticipated Mambilla Hydro power project, the Zing Jalingo Wukari road and many others, as currently happening in APC states.

‘We believe that if Taraba become an APC state, President Tinubu will Construct the Jalingo- Gembu, Takum – Lau and Wukari – Karim Lamido roads, create empowerment schemes and job opportunities for youths in the state. Our desire is to see Taraba prosper in all aspects of development.

‘We know that governor Agbu Kefas has tried by reforming the education, healthcare, and empowerment sectors, which the commitment have rekindled confidence among youths, we however wish to appeal for his alliance with the president in the APC to make Taraba state great.

‘Critical projects that could transform our economy and create jobs for our youth have been abandoned for too long. The Ibi Bridge, a gateway for trade and commerce, the collapsed Namnai Bridge, which has cut off communities and opportunities, as well as the worsening situation of the Federal highways.

‘Nigeria today is being driven by the Renewed Hope Agenda of President Bola Tinubu and we do not want Taraba to be left out of the Tinubu’s transformational drive. For us as a state to attract federal attention, our Governor need to work side by side with the president.

‘If Governor Kefas joins the All Progressives Congress (APC), Taraba will gain direct access to federal projects, resources, and opportunities that our citizens desired for.

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

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

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

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

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

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

It was one of those viral moments that could have easily gone the wrong way, but not for Toyin Abraham.

Per Second News observed that the storyline came to life when she got dragged online for allegedly ‘doing oversabi’ at the wedding of Priscilla Ojo and Tanzanian singer Juma Jux.

Clips and memes flew across social media, with many poking fun at her exaggerated gestures at the star-studded event.

Instead of letting the ridicule linger, Toyin flipped the script in the most unexpected way.

She turned what could have been a stain on her public image into the title and theme of a brand-new movie.

That bold move is now being hailed as a classic case of turning lemons into lemonade.

This time, she’s taking full creative control, stepping into the director’s chair for the first time in her career. And the movie? Aptly titled Oversabi Aunty.

According to Toyin, Oversabi Aunty is more than just a comedy but a mix of chaos, drama, and valuable life lessons wrapped in one.

‘It’s my first big screen directorial debut,’ she said. ‘And I wanted to make it relatable, funny, but also reflective. Because sometimes the same thing that people mock you for becomes your strength.’

The timing couldn’t be more perfect. The film is set to hit cinemas nationwide on December 19, just in time for the festive season.

With Nollywood audiences craving laughter and escape during the holidays, Toyin seems to have found the sweet spot for maximum impact.

This debut also marks a new chapter in Toyin’s career.

For years, she has been celebrated as an actress who throws herself completely into her roles. Now, she is taking on the challenge of shaping not just her character, but the entire vision of a film. Industry watchers say it’s a daring but necessary move for someone of her caliber.

When Oversabi Aunty finally lights up cinema screens on December 19, it won’t just be about the laughs. It will be about a woman who refused to be defined by viral banter, and instead chose to turn her moment of ridicule into an unforgettable Nollywood debut behind the camera.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The National Association of Proprietors of Private Schools (NAPPS), Ogbomoso North chapter, has called on governments at all levels to address the critical challenges facing private school owners and teachers across the country, particularly in the areas of taxation, welfare, and access to financial support.

In a statement commemorating the 2025 World Teachers’ Day, the Chairman of NAPPS Ogbomoso North, Pastor Wale Ojewumi, described teachers as ‘the true architects of our nation’s future,’ noting that their contributions to national development deserve greater recognition and support.

Ojewumi commended teachers, especially those in private schools, for their dedication, passion, and hard work in nurturing the minds of future leaders. He emphasized that private schools complement government efforts in expanding access to quality education and should not be seen as competitors to public institutions.

‘We’re not competing with the public sector; rather, we are working hand-in-hand with it to ensure that quality education is available to all, especially in areas where public resources are stretched thin,’ he said.

However, the NAPPS chairman lamented that private school proprietors are burdened by what he described as an automatic 25% annual increase in personal income tax, which he said negatively affects their ability to reinvest in staff and infrastructure. He urged the government to review the policy and make it more reflective of the realities faced by school owners.

Ojewumi also called for the establishment of a structured welfare system for private school teachers, including access to healthcare, pensions, and fair compensation, noting that many qualified educators work in private schools due to limited employment opportunities in the public sector.

‘Teachers should feel supported, valued, and secure in their roles, which will ultimately benefit the children they teach,’ he added.

He further appealed for government-backed financial support, such as grants and low-interest loans, to help private schools upgrade their facilities and sustain educational quality. Additionally, he urged the government to include private school teachers in professional development programmes to enhance their skills and teaching methods.

Ojewumi concluded by reaffirming NAPPS’ commitment to advancing education in Ogbomoso and beyond, stressing that investment in both public and private education is vital to Nigeria’s peace, prosperity, and progress.

‘Every investment in education whether public or private is an investment in our peace, prosperity, and future,’ he said.

He extended greetings to teachers across Ogbomoso, Oyo State, and Nigeria, applauding their unwavering service to nation-building.

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Sunday, extolled the virtues of teachers in the state, and appreciated their commitment as they joined their colleagues across the globe to celebrate this year’s World Teachers Day.

He commended them at an event organised by the state wing of the Nigeria Union of Teachers (NUT) to commemorate the occasion held at the Teachers’ Pavilion in Ikeja.

Sanwo-Olu, who was represented by the Secretary to the State Government, Mrs. Bimbola Salu-Hundeyin, expressed deep appreciation for their roles in training and shaping the mind and character of young ones for leadership role in the future.

According to him, teachers are the most important people anywhere globally as they are the ones whose wisdom shaped the past, dedication shaping the present, and influence guides the future.

Sanwo-Olu said he used the occasion to join parents, students, and everyone in the education sector of the state to say a big, heartfelt ‘thank you’ to our teachers.

He mentioned that teachers are the ones, who awaken curiosity in the young mind, nurture hidden potential, and inspire children to dream beyond their limits.

‘So, every day, through your patience and commitment, you shape destinies and build the foundation of our society. Today is your day to pause, reflect, and celebrate the immense value you bring to the lives of our children and to the future of our State and our nation.’

Sanwo-Olu observed that the theme for this year’s event, ‘Recasting teaching as a collaborative profession’ is a strong reminder that teaching is not something teachers do alone.

According to him, education works best when teachers, parents, policymakers, communities, and even students themselves come together to make learning meaningful.

He noted that teaching is much more than mere delivering of lesson notes before students as teachers mentor, guide, counsel, and build character.

‘They also give confidence to the timid, direction to the lost, and encouragement to those who doubt themselves and they are shaping not just students in classrooms, but the leaders, innovators, and citizens of tomorrow.

‘So, for this reason, their voices must not be pushed aside as teachers’ experiences, insights, and challenges must guide the way we design our schools, our curriculum, and even our education policies.

‘When we listen to teachers, we are not just supporting a profession – we are investing in the very foundation of our future.’

Sanwo-Olu stated that Lagos State recognises teachers as partners, making their voices part of government policies.

Citing an example, he said, ‘It is only career teachers – people who have grown through the ranks – that can become tutors-general or permanent secretaries within the education family in the state, and the policy has brought stability to the system and also made it stronger.’

He said that is why the state is also recruiting new teachers to lessen the individual workload and also enhance students’ learning outcomes without leaving any child behind.

‘So, we as a people and as a government honor the true value of your work and we will continue to prioritize your concerns across in all areas,’ he concluded.

In his remarks, the state’s Commissioner for Basic and Secondary Education, Mr. Jamiu Alli-Balogun, also acknowledged what he described as the great role played by the teachers in the society.

According to him, teachers’ impact goes far beyond the classroom walls as they inspire, motivate, and nurture future leaders, innovators, and citizens.

‘Your influence, he added, also shines as a beacon of hope, guiding students through life’s challenges and empowering them to unlock their full potential.

‘That is why I charge you today with a crucial responsibility: to challenge yourself, to encourage one another, and to recognize that by working collaboratively and acquiring new skills, tomorrow holds the promise of being even better and greater than today.

‘I also urge you to embrace this task, by making concerted efforts to integrate yourselves, your schools, and students into the vast opportunities technology offers.

‘Let us equally and jointly leverage the T.H.E.M.E.S + Agenda of the state government, especially the Education and Technology pillar in the agenda.

He said as educators, they cannot afford to be complacent in redefining academic standards and goals and therefore should be livelier to their roles.

He said the state government would continue to make teaching profession worthwhile as teachers reward are on this planet earth and not only in heaven.

Speaking earlier, the state’s NUT chairman, Mr. Hassan Akintoye, expressed gratitude to the state government and the education ministry family for their supports to teachers in the state.

He said this year’s theme was both timely and visionary as teaching has often been perceived as a solitary task-one teacher, one classroom, many learners.

But the realities of the 21st Century, he said, demand something more,

According to him, to truly succeed, teaching must become a collaborative profession, where teachers work not in isolation, but in synergy with one another, with parents, with government, with technology innovators, and with society at large.

‘So, collaboration means mentorship, sharing best practices between colleagues, teachers and policymakers co-create education reforms, teachers and parents work as true partners in child development, and so forth’.

Akintoye however called on the state government again to do better for teachers by making teachers to be seen as not just implementers, but as partners. ‘The future of education in Lagos requires policies that place collaboration at the core of teaching.

‘Let us build schools where teachers do not compete, but collaborate, build a system where teachers, parents and leaders are allies.

Let us also create platforms where every teacher, from the entrant to the most senior, has a role to play in shaping our collective future,’ he said.

He promised that teachers would redouble their efforts as the look forward for another celebration next year.

Among other top state government functionaries at the event include the deputy governor, Dr Kadri Hamzat, who was represented by the Executive Chairman of state’s SUBEB, Dr Hakeem Shittu; ,the Head of Service, Mr. Olabode Agoro, represented by the TESCOM chairman, Mrs. Victoria Peregrino and the Tutor-General-Perm Secretary of Education District 5, Mr. Abiodun Hassan and so forth.

The Nigerian naira is staging its strongest comeback in years, fueled by surging foreign reserves, declining speculative activities in the foreign exchange market, and sweeping reforms introduced by the Central Bank of Nigeria (CBN). The currency, which had been battered by years of volatility and sharp depreciation, is now regaining investor confidence and market credibility, writes JOSEPH INOKOTONG.

BEGINNING from when the naira struggled to maintain relevance against the United States dollar, trading at historic lows across both official and parallel markets, Nigeria’s local currency has begun to recover lost ground. As of late September 2025, the naira traded at N1,475/$ at the official window and about N1,460/$ in the parallel market, marking its strongest position this year. The gap between both markets, once wide enough to encourage arbitrage and speculative hoarding of foreign exchange, has now narrowed to an almost negligible margin.

At the heart of this recovery is a steady rise in Nigeria’s external reserves, now standing at $43.05 billion, up from $40.51 billion in July. With an import cover of over eight months and a current account surplus that more than doubled in the second quarter of 2025, the Central Bank of Nigeria (CBN) has been able to reassure investors and businesses of the economy’s resilience.

But beyond the numbers, the naira’s rally tells a larger story of institutional reforms, market confidence, and a determined policy shift aimed at reining in speculation and restoring stability.

A Currency’s Reputation Restored

For Nigeria, the naira is more than a medium of exchange. It is a symbol of national identity and economic sovereignty. Years of depreciation had not only weakened its purchasing power but also eroded confidence in the financial system. Businesses struggled with multiple exchange rates, importers could not access forex on time, and ordinary Nigerians bore the brunt of skyrocketing inflation.

Today, optimism is returning. Market analysts, policy experts, and even small-scale currency dealers acknowledge that speculative trading, a major factor behind the naira’s volatility, has declined sharply. With liquidity injections, improved reserves management, and tighter compliance with forex rules, the CBN has successfully reduced distortions that once plagued the market.

A Bureaux De Change (BDC) operator in Lagos, Garuba Sarki, admitted that many dealers recently incurred losses as they were forced to sell below purchasing rates due to the narrowing exchange gap. ‘This is expected to continue in the weeks ahead,’ he said, noting that fresh dollar inflows are likely to strengthen the naira further.

Investors’ Renewed Confidence

The CBN’s reforms under Governor Olayemi Cardoso have not gone unnoticed. International oil companies, foreign portfolio investors (FPIs), and domestic institutions are all responding to what they perceive as a more transparent and accountable foreign exchange regime.

Head of Research at Commercio Partners, Ifeanyi Ubah, explained that Nigeria’s rising reserves are a sign of stronger external buffers. ‘With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

Indeed, the combination of foreign portfolio inflows, repatriated earnings from oil companies, and diaspora remittances has significantly bolstered supply. The CBN’s interventions to authorised dealers have further stabilised the market, while a more efficient foreign exchange framework has helped sustain investor interest.

Policy Anchors: FX Code and EFEMS

A major pillar of the ongoing reforms is the Foreign Exchange Code (FX Code), introduced by the CBN to enforce standards of ethics, transparency, and accountability in the market. The FX Code compels institutions to submit detailed compliance plans, signed off at board level, outlining how they intend to uphold best practices in trading and reporting.

According to the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, the FX Code has been a game changer in curbing speculation. ‘By entrenching transparency and accountability in FX market operations, the code has effectively kept speculators in check and strengthened naira stability,’ he said.

Governor Cardoso has stressed that the code is aligned with international standards and tailored to Nigeria’s unique market challenges. ‘The era of opaque practices is over. Violations will be met with penalties and administrative actions under the CBN Act 2007 and BOFIA Act 2020,’ he declared at the launch.

Complementing the FX Code is the Electronic Foreign Exchange Matching System (EFEMS), designed to provide real-time information on currency rates, volumes, and market activity. The system curtails distortions and eliminates the opaque pricing that once allowed speculation to thrive.

Additionally, the CBN lifted the controversial restriction on 41 import items, a policy reversal aimed at improving access to FX for businesses and promoting trade and investment.

Reforms Rooted in Crisis Management

When Cardoso assumed office in October 2023, Nigeria’s FX market was in disarray. A backlog of over $7 billion in unfulfilled obligations, multiple exchange rates, and collapsing investor confidence created a daunting landscape. His immediate priority was unifying the exchange rate to eliminate arbitrage and restore transparency.

‘Over the past year, we have undertaken critical reforms to unify Nigeria’s exchange rate, eliminating distortions and restoring transparency. This unification has enabled us to clear outstanding foreign exchange obligations, giving businesses the confidence to plan and invest,’ Cardoso said during the last Monetary Policy Committee (MPC) meeting.

From manufacturers to airlines, market participants now report improved planning and smoother access to FX. While challenges remain, the progress has laid a foundation for longer-term stability.

The Diaspora Connection

Beyond oil exports and foreign portfolio investments, Diaspora remittances have become a critical source of FX inflows. Recognising this, the CBN introduced two new products targeted at Nigerians abroad: the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA). These accounts allow Nigerians abroad to remit foreign earnings, manage funds in multiple currencies, and invest in domestic financial markets, from bonds and equities to mortgage products. By formalising remittance channels and offering flexibility, the CBN hopes to double receipts within a year.

Western Union’s Regional Vice President for Africa, Mohamed Touhami el Ouazzani, recently noted that Africa received $90 billion in remittances in 2023, underlining their importance for household welfare and financial stability. He described remittances as ‘seeds of change,’ with the potential to transform economies if properly harnessed.

Market Watchers Urge Caution

While optimism is high, experts caution that sustaining the naira’s rally will require more than monetary policy. Analysts stress the importance of maintaining fiscal discipline, boosting crude oil production, and diversifying exports to reduce dependence on oil revenues.

For now, the CBN’s interventions have restored short-term stability. But without structural reforms in energy, manufacturing, and agriculture, Nigeria risks repeating past cycles where temporary rallies gave way to sharp downturns.

A New Era for the Naira?

The naira’s rally represents more than just numbers on a trading screen. It signals a shift in Nigeria’s economic narrative, from a currency battered by speculation and policy inconsistencies to one benefiting from transparency, investor confidence, and strategic reforms.

For businesses, the implications are far-reaching: better planning, reduced hedging costs, and stronger investor appetite. For households, a stable naira means relief from the relentless inflation that has eroded purchasing power. And for policymakers, it represents a chance to consolidate reforms that can finally align Nigeria’s economy with its potential.

Still, the task ahead remains formidable. Exchange rate stability must be complemented by robust productivity growth, non-oil exports, and a disciplined fiscal regime. If these are achieved, the naira could indeed sustain its current momentum and reclaim its place as a true instrument of national pride.

Lecture delivered under the joint auspices of the Geographical Society and the Federalist Society of Nigeria at the University of Ibadan on 16th May, 1970

Continued from last week

Consequently, when Britain actually devalued its currency, unilaterally and without consultation with the members of the Sterling Group, on 18th November, 1967, I already had clear in my mind what the implications of this action would be for the Nigerian economy, and also what the effects of devaluation or non-devaluation of the £N to the country’s economy would also be. Nonetheless, I quickly arranged a meeting with my officials and the Governor of the Central Bank to argue the matter all over again. Powerful arguments were marshalled for and against the devaluation of the £N. But, in the end, we decided not to devalue; and whatever might have been the theoretical arguments to the contrary, subsequent events have shown that we were wise not to have devalued in slavish sympathy with Sterling devaluation.

In this connection, I would like to observe, in passing, that though the requirements of politics and the realities of economics do not always mix, yet, even if it had been wise for us to devalue, the unilateral manner in which Britain called the tune would have been regarded as such an affront to our independence and sovereignty as to make me want to refuse to dance to that tune.

As I said before, we lost substantially as a result of the Sterling devaluation, and would have lost much more if we had devalued. We could ill-afford any loss – let alone a substantial loss – of foreign exchange, in the prevailing circumstances. But this was the risk we took as a member of the Sterling Group. Howbeit, it was a risk we did not want to continue to take. Yet, after a careful consideration, we came to the view that it would not be prudent for us to pull out of the Sterling community. In order, therefore, to avoid a repetition of our painful experience, we sought to secure from the British Government a guarantee against a recurrence – that is, against loss, in the event of another devaluation of the British £. It must be said to the credit of the British Government that the guarantee which we sought was readily given. The same thing goes for other countries, similarly circumstanced as ourselves, within the Sterling community. In other words, we are now fully insured against loss, in the event of a future devaluation of the Sterling.

As a result of all these measures, we were able to provide, on our own, £230.8 million in local currency, and £70.8 million in foreign exchange, to finance the civil war. We were also able, as a result, to survive the strains, the stresses, and the exigencies of the war, without blemish to our national honour and pride, and without any corrosion of our sovereignty and self-confidence. Furthermore, by being compelled to mobilise and deploy the financial resources of the country to meet the ineluctable demands of war, we were able to discover – this much is revealed by the facts and figures which I have given in the course of this lecture – that the capacity of Nigeria for economic growth and self-reliance is enormous.

My officials and I have been commended for the prudent manner in which we had managed the finances of the country during the war. It would be hypocritical for me to say that we do not deserve some praise. But I think it is to our great and beloved country that ‘all glory, laud, and honour’ should go, for its expansive and fascinating manageability. No one in this country could have predicted that Nigeria could go through this kind of war without being heavily indebted financially to anyone outside Nigeria, and, at the same time, emerge at the end of it all as a most virile and buoyant economy. We had successfully weathered the storms of one of the worst civil wars in history, and we are now fortified by our war-time practical experiences to meet the multifarious and intricate challenges of peace, including the rapid development of our country. In other words, we are in a position today to say truthfully that we have fulfilled the first of our two objectives by winning the war, and that we are properly equipped and sufficiently strong financially to fulfil our second objective of winning the peace.

It would be erroneous to regard the sum of £300 million as representing the total and only cost of the civil war to Nigeria. This figure is no more than the calculable and visible cost of the war. There are other costs: some are hidden; some are incalculable; others are waiting to be calculated by diligent economists, econometricians, and statisticians.

In the early part of this lecture, I spoke of lost grounds and progress foregone. The average growth rate of our GDP (excluding oil), during the period of 1958/5.9 to 1966/67, is 6.6 per cent. Dr. John D. Letiche, Professor of International Economics at the University of California, in the United States, assuming a growth rate of 5 per cent for our GDP, opined in September 1968, eighteen months before the end of the war, that, because of the civil war, Nigeria ‘has lost income foregone of a minimum of$400 million . ‘This must have since doubled to about £286 million. The cost of infrastructure, public and private properties, damaged and destroyed, during and because of the war, has not yet been fully calculated. But it will be generally agreed that this must run into several millions of £N. And, of course, we all know that the cost of the civil war, in terms of human sufferings, and of human lives lost, is incalculable. I now turn to the second part of this lecture: the implications for the future economy of the nation of financing the Nigerian civil war.

I take it that we all agree that the civil war, like any war at all for that matter, could not have been fought for any length of time, let alone victoriously after a protracted campaign, without adequate funds. This being so, I would like to state that financing the Nigerian civil war – that is, making it possible for us to wage the war as we did – has left us with bad and good legacies which can have far-reaching implications for the future economy of the nation. I propose to deal with six of such implications.

FIRST: Because of the protraction and continuous escalation of the war, Nigeria is now left with a large army – about twenty times its pre-war size – which poses a serious dilemma for the economy. If we continue to keep them at the present strength, the bulk of our resources would have to be diverted for their maintenance, to the prejudice of the economy and of the masses of our people. On the other hand, if we demobilised a large number of them immediately, without their simultaneous absorption into alternative employments, our highways and alleyways would, of a certainty, be infested by hungry, discontented, and disillusioned youths who might be tempted to commit violent crimes, again to the prejudice of the economy and of the masses of our people.

SECOND: Today, most of our hospitals as well as many of our homes are filled with the maimed and the wounded of the war. For many years to come, they will, quite properly, remain an unreciprocated charge on the economy. In other words, they will remain an inevitable addition to the country’s population of non-producers who must be fed, housed, clad, and generally cared for at public expense.

THIRD: Extensive damage and destruction to public and private properties had been caused, in certain parts of the country, as a result of the war. All these will have to be made good and restored with new resources which would otherwise have been utilised for new and additional developments.

FOURTH: I did speak before of the crazy vagaries of the unorthodox market for arms and ammunition in which we were obliged to operate in the early stages of the war. This is putting it mildly and politely. In all its aspects, war is very bad business; and the unorthodox ,market for military equipment is the worst and the most sordid black market conceivable. It was abundantly clear to us that, if our proposed Iron and Steel Complex had been in production, we would have been able to produce all the small arms and ammunition needed by us, at the Nigeria Defence Industries. Partly because of the state of mind into which it was thrown by the sharp practices of arms racketeers, the Federal Military Government gave a big fillip to the negotiation for establishing an Iron and Steel Complex for Nigeria; and if all goes well, the Complex should be in production by about 1974 or 1975. All of us know what this means for the future economy of our country, especially if petro-chemical industry is established in the country, simultaneously. In concrete terms, it means self-sufficiency in practically all consumer durables; it means the local production of a good number of capital goods; and it also ipso facto means considerable savings and increase in our foreign exchange reserve.

FIFTH: The exigencies of the war did well to shock us out of our traditional complacencies, and to compel us to make a clean break with the injudicious and injurious economic policies of the

past, and chart for ourselves a new path of financial prudence. Practically, all the important measures introduced by us during the war testify to the validity of this assertion. The selective restrictions on imports and the attendant switch to import-substituting goods; the sealing of wasteful loopholes in our foreign exchange transactions and earnings, including the centralisation in the hands of the Central Bank of all foreign exchange receipts emanating from Nigeria; the financing of the Marketing Boards by the Central Bank with consequent automatic advantages to the Government and Marketing Boards alike, in additional revenue for the former and lower rate of interest, coupled with assured source of finance, for the latter, the introduction of companies super tax and payment of terminal dues – all these and more are concrete evidence of what we had done to arrest the unhealthy trends of the past, and are accurate pointers to what can be done in the future to make Nigeria a free, self-reliant, and prosperous economy.

SIXTH: The financing of the civil war has enabled us to discover that Nigeria possesses an economic resilience and expansiveness which we did not sufficiently notice before. In this connection, I would like to emphasise that this resilience, and this expansiveness, was by no means accidental.

All the requisite material and manpower resources for the early attainment of economic greatness have always been available in abundance, and are only waiting to be conscientiously recognised, mobilised, and deployed. Potentially, Nigeria is a giant economy capable, under prudent and competent guidance, of making giant strides. All those who are concerned with making plans for her forward motion must recognise this important fact, lest, as in the past, they hinder her natural velocity. There are classical instances of inadvertent hindrances in the past. The 1962/68 NATIONAL DEVELOPMENT PLAN assumed a growth rate of 4 per cent. The GUIDEPOSTS FOR SECOND NATIONAL DEVELOPMENT PLAN which was published in June 1966 assumed a growth rate of 6 per cent for 1968/73. In paragraph 10 of the GUIDEPOSTS, the following revealing passage occurs: ‘If the 4 per cent minimum growth rate per annum assumed under the current plan is realised, the GDP will amount of about £1,304 million in 1967/68. During

Minister of Power and member of All Progressives Congress (APC), Adebayo Adelabu, has declared that it is his turn to become the governor of Oyo state in 2027.

In a viral video sighted by Tribune Online on Sunday, Adelabu, while addressing a gathering, said his ambition was not driven by selfish motives but by a genuine desire to improve the lives of the people in Oyo State.

Speaking in Yoruba, he said, ‘I have been on this political journey for quite some time. In politics, I have learned that one may not always get what one deserves in a single attempt – life and politics have both taught me this lesson.

‘I have paid my dues. I contested alongside Seyi Makinde in 2019 and again in 2023.

‘Today, I declare: it is our turn – it is my turn in 2027, as God has revealed it. Adelabu! Àwálòkàn! Penkelemesi Èmilòkàn!

‘We will begin our door-to-door campaign in earnest, and by the grace of God and our collective efforts, victory is not only possible – it is certain.’

This is coming a few months after Adelabu debunked insinuations that President Bola Ahmed Tinubu would impose him on the All Progressives Congress (APC) in Oyo State as the party’s 2027 governorship candidate.

He maintained that the APC would conduct a primary when the time comes and that the best candidate would emerge without any form of imposition.

The Ondo State Government has announced a 100 per cent increase in bursary allocations for indigenes of the state studying in recognised public and private institutions across Nigeria.

The State Commissioner for Economic Planning and Budget, Mr Laolu Akindolire, disclosed this in Akure during consultative meetings with stakeholders on the preparation of the 2026 budget.

Akindolire described the decision as the outcome of deliberate fiscal planning and resource prioritisation by the state government, noting that it reflects the administration’s unwavering commitment to inclusive development and human capital investment.

He stated that ‘This bold and strategic decision is coming at a time when many states are grappling with economic strain. It is not just a policy shift; it is a reaffirmation of Governor Lucky Aiyedatiwa’s belief in the transformative power of education and the importance of supporting young indigenes as pillars of tomorrow’s economy.’

He explained that the Aiyedatiwa-led administration has continued to place citizens’ welfare at the core of its development agenda, saying, ‘the increase in bursary allocation is another clear signal that the government listens, empathises, and acts.

‘For some students, this bursary is the difference between staying in school or dropping out.’

The Commissioner noted that despite lean resources, the state government remains resolute in investing in areas that directly impact the people, especially youth empowerment and education.

He said the increment forms part of a broader strategic plan to build an empowered, educated, and resilient youth population across universities, polytechnics, and colleges of education.

He further called on private sector players, development partners, and philanthropic individuals to complement government efforts in advancing education and youth development in the state.

Reacting to the development, Comrade Ganiyu Yusuf, a student leader, commended the state government’s initiative, describing it as timely and impactful.

Yusuf said, ‘This shows that the government is thinking about us. It’s not just about roads and buildings; this bursary means food, books, rent, and peace of mind.’