Asianet Pakistan Private Limited

Olufemi Oluyede, Nigeria’s newly appointed Chief of Defence Staff (CDS), has refuted allegations that Christians are being persecuted in Nigeria, emphasising that the country’s principal security challenge remains terrorism.

Oluyede made the statement on Monday in Abuja while responding to remarks by former U.S. President Donald Trump, who had alleged that Islamic terrorists were systematically targeting and killing Christians in Nigeria.

‘There are no Christians being persecuted in Nigeria. What we are dealing with is insecurity, especially terrorism, which has affected the country for quite some time,’ Oluyede stated.

The Defence Chief maintained that the Nigerian Armed Forces remain fully committed to defeating terrorism and restoring security nationwide through renewed strategies and coordinated military operations.

He said that President Bola Tinubu’s recent overhaul of the country’s security structure has bolstered efforts to combat terrorist groups and other criminal elements operating in different parts of the country.

‘You will recall that last week, the President and Commander-in-Chief recalibrated the security architecture by bringing on board officers of proven integrity who are seasoned in asymmetric warfare to add impetus to our operations,’ Oluyede said.

According to him, the Nigerian military is intensifying its campaigns against terrorists in the North-East, bandits in the North-West, and violent gangs in the Middle Belt and South regions.

‘We are going to strengthen what we are doing, add more impetus to our operations, and ensure that we checkmate acts of terrorism within Nigeria,’ he pledged.

The CDS also acknowledged that terrorism is a global challenge that transcends national boundaries, adding that Nigeria is open to international partnerships in tackling the menace.

‘There are several countries also challenged in that respect, and it calls for collective effort. If we have partners ready to support Nigeria, we will welcome them to help us address terrorism within our space,’ Oluyede said.

He reaffirmed the Armed Forces’ commitment to safeguarding national unity, restoring peace, and protecting all citizens irrespective of faith or ethnicity. ‘We are soldiers of the Federal Republic of Nigeria, not of any religion or region. Our duty is to defend all Nigerians,’ he added.

Oluyede’s remarks came in response to a controversial post by former U.S. President Donald Trump on his Truth Social platform. In the post, Trump claimed that Christians were being ‘slaughtered’ by Islamic extremists in Nigeria and warned that the U.S. ‘might have to act’ if such attacks continued.

Trump’s statement sparked widespread criticism both within Nigeria and abroad, with many describing his comments as misleading and potentially inflammatory.

In reaction, President Bola Tinubu reiterated his administration’s commitment to democracy, unity, and religious freedom. Writing on his official X (formerly Twitter) account, Tinubu reaffirmed that Nigeria’s Constitution guarantees freedom of religion and prohibits discrimination on the basis of faith.

‘Nigeria stands firmly as a democracy governed by constitutional guarantees of religious liberty,’ Tinubu said. ‘We maintain engagement with both Christian and Muslim leaders to promote peace, tolerance, and unity across the nation.’

The President dismissed Trump’s portrayal of Nigeria as religiously intolerant as ‘inaccurate and unfair,’ stressing that interfaith harmony remains one of the country’s enduring values. He also noted that while terrorist groups have at times targeted communities of different faiths, their goal is not driven by religion but by broader agendas of violence and destabilisation.

Tinubu reaffirmed Nigeria’s partnership with the United States and other allies in the global fight against terrorism, pledging continued cooperation to protect communities of all faiths.

‘As a government, we will continue to work with our international partners, including the United States, to deepen mutual understanding and strengthen collective security,’ he said.

With the new Defence Chief taking charge, the Tinubu administration is expected to further intensify counterterrorism efforts through improved intelligence sharing, regional coordination, and renewed engagement with local communities affected by insecurity.

General Oluyede concluded by urging Nigerians to remain united in the face of security challenges, emphasizing that the nation’s strength lies in its diversity and shared resolve to overcome terrorism and maintain peace.

‘We are one people, one nation. Together, we will defeat terrorism and ensure lasting stability for future generations,’ he said.

The naira on Tuesday recovered from Monday’s losses as the foreign exchange (FX) market shrugged off the impact of sentiments from remarks made by U.S. President Donald Trump on Nigeria.

Data from the Central Bank of Nigeria (CBN) showed that the naira appreciated to N1,433.65 per dollar during intra-day trading, gaining 0.2 percent (N2.69) compared to N1,436.34 quoted the previous day at the Nigerian Foreign Exchange Market (NFEM).

An investment banker who spoke with BusinessDay said the market had calmed as initial fears over the possible implications of Trump’s remarks faded.

‘The market is stable today because traders now believe Trump’s comments are unlikely to translate into any immediate action that would affect Nigeria’s economy or its FX inflows,’ the banker said.

The local currency maintained relative stability in the unofficial foreign exchange market, commonly known as the parallel or black market despite Trump’s weekend threat of military action against Nigeria. Traders in major cities reported that the naira traded at similar levels to Monday, showing no significant volatility despite earlier external pressure.

Market checks across Lagos and Abuja confirmed that the dollar was sold at an average rate of N1,440 on Tuesday, the same as Monday’s rate. In some parts of Abuja, the naira even strengthened slightly, exchanging at N1,450 to the dollar compared to N1,460 quoted the previous day in the black market.

Currency dealers attributed the stability to moderate dollar demand and improved liquidity from informal sources, which helped cushion potential pressure arising from Trump’s comments. Nigeria’s external reserves, which provide the Central Bank with the capacity to support the naira, have also remained steady growth, rising to $43.25 billion as of November 3, 2025, according to CBN data.

Trump had, in a post on Truth Social on Saturday, claimed he had instructed the Pentagon ‘to prepare for possible action’ and threatened to cut off aid to Nigeria, an OPEC member and Africa’s most populous nation. His comments sparked concerns about possible geopolitical and economic repercussions, including risks to investor sentiment and foreign exchange inflows.

In a small co-working space in Lagos, 27-year-old Charles Ayere is quietly reshaping how technology can be used to solve everyday African problems. His journey didn’t begin with code or computer science, in fact, he once believed tech wasn’t for him.

‘I didn’t come from a science-focused background. For a long time, I thought building technology wasn’t something people like me could do. But I later realized innovation doesn’t require permission, it requires persistence,’ Ayere tells BusinessDay.

That realization has since defined his mission, which is to building technology that responds to human pain points. Whether it is helping the visually impaired move safely or enabling young Africans to compete fairly in the job market, Ayere’s projects: EyeGuide and CitrusCV, are a testament to empathy-driven innovation.

From curiosity to creation

Charles Ayere’s path to tech started in university, where curiosity and courage collided. He began experimenting with software development and assistive tools, despite lacking a formal background in computer science. ‘What mattered wasn’t my degree. It was daring to start and believing I could build something that mattered,’ he says.

That belief led to the birth of EyeGuide, a project that later win him the ‘Emerging AI and ML Innovator of the Year 2024 award.’

EyeGuide: Restoring confidence, not just sight

EyeGuide uses the iPhone’s LiDAR sensor and haptic feedback to help visually impaired users navigate safely. It scans the environment in real time, identifies obstacles, and translates spatial data into gentle vibrations or voice prompts.

‘If you are approaching a wall or an obstacle, you will feel a vibration or hear a prompt. Everything happens on-device, no internet needed, so users’ data stays private and it works even in areas with poor connectivity,’ Ayere explains.

The idea was born out of empathy. ‘A close friend of mine is visually impaired. Seeing how much effort it takes to move around inspired me to explore how tech could make independence possible again,’ he recalls.

Ayere is now developing affordable smart glasses that integrate EyeGuide’s features, aiming to make assistive technology more accessible for people in low-income regions. ‘The goal is not to make fancy hardware, but to give people a sense of confidence and control,’ he says.

CitrusCV: Leveling the job market With AI

When he is not working on assistive tech, Ayere’s attention turns to another challenge: unemployment. His second major project, CitrusCV, is an open-source AI résumé builder designed to help job seekers across Africa articulate their value effectively.

‘Many talented people lose out on opportunities because they don’t know how to present themselves. CitrusCV analyzes job descriptions and helps users tailor their CVs automatically. It is like having a smart career assistant and it is free, open, and accessible to anyone,’ Ayere says.

In a continent where youth unemployment remains high and job mismatch is common, tools like CitrusCV could help level the playing field. ‘AI should democratize opportunity. It should help people compete on skill, not on who they know,’ he argues

Teaching the next generation to build With Empathy

Beyond his projects, Ayere mentors young developers through programs like Gomycode, GMI, and StepUp2Tech. His advice to aspiring technologists often cuts against the usual trend.

‘Most young developers think success in tech is about knowing every framework or tool. But that is not what makes you valuable. Understanding problems does’ he says.

For Ayere, mentorship is about creating a mindset shift, from code-focused to impact-focused. ‘If you can identify pain points that frustrate people and solve them creatively, you will always stay relevant,’ he says.

Innovation with context

After his award win in 2024, Ayere says the recognition reaffirmed what he is always believed: innovation doesn’t have to be complex to be meaningful.

‘EyeGuide and CitrusCV gained traction because they solved relatable, human problems using existing tech in creative ways. You don’t need massive resources, just context, empathy, and persistence,’ he reflects.

Looking ahead, he is exploring new frontiers in AI for accessibility, including tools that work offline and recognize local accents for better inclusivity. ‘Ultimately, I just want to keep building products that restore agency, whether that is helping someone move freely, find a job, or feel seen,’ he says,

For a technologist who once doubted his place in the field, Charles Ayere’s journey proves that real innovation isn’t born from privilege or pedigree, it is born from empathy, curiosity, and the courage to respond to pain with purpose.

The Friedrich Ebert Stiftung (FES) Foundation says African governments must prioritise value addition and agricultural subsidies as strategic measures to reduce food insecurity and build resilient economies.

Lennart Oestergaard, Resident Representative of FES Nigeria, said this during an Exchange with the Nigerian Union of Agriculture and Allied Employees (NUAAE) on the book ‘How Africa Eats’ on Monday in Abuja.

The book which focused on Trade, Agriculture, and Food Security in Africa, examines the intersection between agricultural productivity, trade policy and sustainable development across African countries.

Oestergaard said the report was developed to guide evidence-based policymaking that supported farmers, promote food sovereignty, and enhanced intra-African trade.

‘Our findings showed that Africa’s food insecurity stems not only from production shortfalls, but also from the way we trade and process our produce.

‘Africa must move from exporting raw materials to exporting processed goods that retain value and create jobs.’

Oestergaard reaffirmed FES’s commitment to supporting research and dialogue that connect trade unions, policymakers and the private sector towards sustainable and equitable food systems.

‘Food security is not only about feeding people; it’s about empowering them. Africa must design policies that ensure dignity, resilience and prosperity for every farmer,’ he said.

The President of NUAAE, Tajoudeen Baba, represented by his Financial Secretary, Dr Agha Ukpai Agha, welcomed the FES study and commended its contribution to ongoing policy debates on food security.

Baba said NUAAE was encouraged by the focus on agriculture and its central role in national development, urging stakeholders to adopt practical measures that protect farmers’ livelihoods and enhance local food production.

‘We are here to stress that agriculture remains the backbone of our food systems and rural economies.

‘Policies must translate into concrete support mechanisation, rural infrastructure, affordable credit and social protection for farm workers if we are to close the gap between production and demand,’ he said.

He reiterated the union’s readiness to partner with research institutions, development organisations and government to promote labour-friendly agricultural policies and to ensure that farm workers benefit from programmes aimed at boosting productivity.

David Luke, the report’s lead researcher and trade policy expert, said the study highlighted how limited investment, weak intra-African trade links and insufficient industrial capacity have continued to undermine the continent’s agricultural potential.

Luke said that while the African Continental Free Trade Area (AfCFTA) offered opportunities for agricultural transformation, its success depended on the ability of governments to align trade policies with domestic food production strategies.

‘Africa can no longer afford to import what it can produce.

‘We must strengthen regional value chains, promote agro-processing, and provide incentives for farmers to produce more efficiently and competitively.

‘The report noted that Africa spends billions of dollars annually importing food items that could be produced locally, underlining the need for targeted subsidies, investment in processing facilities and stronger market linkages,’ he said. Abdul Kabul, FCT Chairman of NUAAE reiterated the need for synergy between the Ministries of Agriculture and Water Resources to boost dry-season farming and ensure sustainable irrigation development.

He cited the World Bank-supported Transforming Irrigation Management in Nigeria (TRIMING) project as a model that addressed farmers’ challenges in power supply and access to water.

He said that insecurity, drought, erosion and desert encroachment had continue to threaten productivity and must be tackled for Nigeria to attain food security and reduce imports.

Ute Akpan, FCT Auditor of the organisation emphasised the importance of funding in agricultural development, warning that inadequate financing undermines productivity and self-reliance.

He called for policies that would reduce over-dependence on foreign systems and allow African nations to solve their agricultural problems independently.

Also, Raheem Akolawole, National Agricultural State Council Branch Chairman of NUAAE, described agriculture as not only a source of nutrition but a foundation for economic resilience and sustainability.

He called for increased investment in research, seed quality and funding for students and institutions to strengthen food production.

Akolawole called for sensitisation of farmers on good agricultural practices to avoid recycling poor-quality seeds, which reduces yield and profitability.

The Nigerian Maritime Administration and Safety Agency (NIMASA) has accredited 27 shipyards to begin operations across the country.

According to the agency, ten of the accredited facilities are in Lagos, eight in Rivers, and nine in Delta states. These shipyards are the only ones that have so far met NIMASA’s regulatory, safety, and operational requirements.

Dayo Mobereola, the Director General of NIMASA, said the exercise is part of efforts to ensure that shipyards in Nigeria comply with international standards of safety, environmental protection, and efficiency.

He noted that maintaining an updated register of accredited facilities would boost investor confidence and support sustainable growth in ship repair, dry-docking, and vessel construction.

As part of the process, vessels built at the accredited shipyards will be issued a Keel Identification Number (KIN) by NIMASA’s Maritime Safety and Seafarers Standards Department, making them eligible for an International Maritime Organisation (IMO) number.

NIMASA said the verification and accreditation exercise would be continuous to uphold operational excellence and align local shipyard activities with global best practices. A full list of the accredited shipyards is available on the agency’s website.

Jubaili Bros, one of the country’s most enduring engineering firms, in partnership with Perkins, global engine giant to unveil the new diesel generators, a launch that underscored a 45- year collaboration that has quietly powered much of Nigeria’s modern infrastructure.

The unveiling was done during the Jubaili Bros and Perkins seminar themed ‘Powering Nigeria – Diesel, Gas and Hybrid Versatility for a Sustainable Future,’ held in Lagos recently.

‘When Perkins needed to introduce the 5000 Series to Nigeria, they didn’t look elsewhere,’ said Nabil Suleiman, general manager, Jubaili Bros. Nigeria.

‘That trust has been built on consistent performance and deep technical expertise; qualities that have powered our relationship for over 45 years.’

The unveiling of the Perkins 5000 Series drew noticeable excitement. With configurations ranging from 6 to 16 cylinders and outputs between 750-2,500 kVA, the engine marks a leap in both performance and sustainability.

Technical experts highlighted key advantages: enhanced fuel efficiency, HVO (Hydrotreated Vegetable Oil) compatibility for reduced emissions, and reliability engineered for mission-critical sectors. For a market increasingly driven by data centres and round-the-clock industries, this reliability cannot be overstated.

‘Our partnership with Jubaili Bros is focused on delivering cleaner, more efficient power solutions that extend engine life,’ said Helen Cornish, account manager at Perkins.

‘We’re excited about the collaboration that went into bringing the 5000 Series to Nigeria. Together, we ran extensive 1,000-hour tests on their generator sets to ensure optimal performance and reliability.’

‘The 5000 Series embodies what Perkins stands for: engineering that anticipates tomorrow’s demands. And Nigeria, with its vibrant energy landscape, remains a key frontier.’

Engineering sustainability into Nigeria’s future

Beyond the 5000 Series, the company’s expanded portfolio revealed a comprehensive approach to Nigeria’s power mix – combining MWM gas solutions, solar hybrids, and advanced monitoring systems.

The emphasis was clear: efficiency, sustainability, and total lifecycle management. With tools that enable real-time tracking of fuel consumption and performance, the company aims to redefine operational transparency, a rarity in the region’s power industry.

What stood out most was the calibre of attendees – consulting engineers, EPC contractors, and corporate decision-makers who collectively shape the country’s infrastructure.

‘For 45 years, we’ve not just powered Nigeria’s facilities; we’ve powered its confidence,’ one Jubaili Bros official remarked, a sentiment that captured the event’s underlying tone – one of continuity and credibility.

Beyond a launch, a legacy in motion

From the outside, this might have seemed like another corporate seminar. But for those in attendance, it felt more like an industry checkpoint, a reminder that leadership is measured not by how many products you sell, but by how consistently you deliver value through changing times.

As Nigeria seeks to modernise its grid and balance energy security with environmental responsibility, the Jubaili Bros-Perkins partnership offers a working model of resilience and renewal.

Jubaili Bros’ latest technical seminar was more than an introduction to advanced machinery; it was a masterclass in industry leadership, the kind that quietly shapes markets, sets standards, and sustains confidence in Nigeria’s journey toward energy stability.

Luanda-based mobility startup Anda has raised $3.4 million (pound 3 million) in seed funding to bring structure, technology, and financial inclusion to the motorcycle taxi market.

The funding round was co-led by European venture capital firms Breega and Speedinvest, marking one of the largest early-stage investments in Angola’s growing tech ecosystem.

Founded in 2022 by Sergio Tati and Joerg Nuehrmann, Anda is building a technology-driven platform that integrates ride-hailing, delivery, and asset financing to transform how motorcycle taxi operators work and earn.

Motorcycle taxis, popularly known as ‘kupapatas’ in Angola and ‘Okadas’ in Nigeria, are the backbone of urban and peri-urban mobility across Africa. Yet, despite the sector’s scale, it remains largely informal.

In Angola alone, the industry employs an estimated 1.2 million drivers, about 600,000 of whom operate in Luanda, the capital. Most lack training, insurance, and access to financial services, leaving them vulnerable to exploitation and limiting their earning capacity.

Anda’s mission is to change that. The startup’s model combines drive-to-own motorcycle financing with a digital ride-hailing and payment platform. Through its platform, drivers can acquire new motorcycles with flexible repayment plans, receive professional training, access insurance coverage, and get essential safety gear, all while using the same platform to connect with customers.

‘We are tackling two major challenges at once, the lack of access to affordable asset financing and the absence of formal digital systems for mobility. By enabling drivers to own their motorcycles, we empower them to build sustainable livelihoods while improving safety and service standards in the market,’ said co-founder Sergio Tati.

Under Anda’s drive-to-own scheme, drivers repay the cost of their motorcycles gradually through earnings made on the platform. Once repayment is completed, ownership is transferred to the driver, providing a pathway to financial independence and inclusion.

The platform’s backend system also allows drivers to manage payments, monitor their loan balance, and track progress toward ownership. Meanwhile, customers can book rides or delivery services seamlessly through Anda’s mobile app, which supports digital payments and GPS-enabled tracking.

For Breega and Speedinvest, Anda’s model represents a unique opportunity to back a company solving both infrastructure and financial challenges in one of Africa’s fastest-growing transport markets. ‘Anda’s integrated approach stands out because it directly addresses informality, safety, and access to credit, issues that affect millions of mobility workers across the continent,’ the investors said in a joint statement.

Anda estimates that Angola’s motorcycle taxi market is worth about $5 billion, but the opportunity extends far beyond national borders. According to industry data, the motorcycle taxi sector across Sub-Saharan Africa could be worth up to $80 billion, with startups like Uganda’s SafeBoda, Nigeria’s MAX, and Kenya’s BodaBoda paving the way for formalization.

With fresh capital in hand, Anda plans to expand its operations within Luanda and into other major Angolan cities, strengthen its technology infrastructure, and onboard thousands of new drivers by 2026.

‘Our vision is to build Africa’s most trusted platform for mobility entrepreneurs. We believe that ownership, technology, and safety can drive the next wave of inclusive growth in the continent’s mobility ecosystem,’ said Tati.

The Delta State House of Assembly has commenced the process to repeal the 1977 Rent Control and Recovery of Residential Premises Law.

This was revealed during a public hearing on the ‘Bill to Repeal the Rent Control and Recovery of Residential Premises Law of 1977 and Establishment of Landlord and Tenant Law, 2025,’ which was held at the DTHA Press Center in Asaba, the state capital.

The hearing was led by Bridget Anyafulu, the Chairman of the Joint Committee on Housing, Women Affairs, Girl Child Entrepreneur Services, and the Committee on Physical Planning and Urban Renewal.

She highlighted the broad scope of the proposed bill which aims to regulate the relationships between landlords and tenants, tenancy contracts, rent payments, and rent control.

According to Anyafulu, the legislation is designed to create an enabling environment for a housing sector that benefits landlords, agents, and tenants alike, fostering a stable and harmonious society in Delta State.

Anyafulu, who was flanked by Oloye Pereotu, the Chairman of the Committee on Urban Renewal, including Members of both Joint Committees, encouraged stakeholders to actively participate in the hearing and provide valuable contributions.

She stressed that the bill seeks to establish a functional sector that safeguards the well-being of stakeholders, as well as the economic and political stability of Delta State.

The joint committee expressed its openness to written and oral presentations from the stakeholders. Representatives from various ministries including the ministry of justice, Chairmen and Board of trustees of Association of Organized Realtors, Landlords’ and Tenants’ Associations, representative of the Delta State Court of Appeal, Real Estate Agents, and members of the private sector, attended the public hearing.

The naira on Tuesday maintained relative stability in the unofficial foreign exchange (FX) market, known as parallel, or black market, despite threats of military invasion against Nigeria by Donald Trump, the United States president.

Traders in major cities said the local currency traded at similar levels as the previous day, showing no significant volatility despite the external pressure.

Checks in parts of Lagos and Abuja showed that the dollar was sold at an average rate of N1,440 on Tuesday, the same as Monday’s rate. In some areas of Abuja, the naira even appreciated slightly, exchanging at N1,450 to the dollar compared to N1,460 quoted the previous day in the black market.

Currency dealers attributed the stability to moderate demand and improved supply from informal sources, which helped cushion potential pressure arising from Trump’s comments.

In contrast, the naira weakened in the official market on Monday, depreciating by about 1.0 percent following Trump’s threats. Data from the Central Bank of Nigeria (CBN) indicated that the local currency lost N14.61 as the dollar closed at N1,436.34 at the Nigerian Foreign Exchange Market (NFEM), compared to N1,421.73 per dollar recorded on Friday.

Trump had, in a post on Truth Social on Saturday, claimed he instructed the Pentagon ‘to prepare for possible action’ and threatened an immediate cut-off of aid to Nigeria, an OPEC member and Africa’s most populous country. His comments had raised concerns about potential geopolitical and economic implications, including risks to investor confidence and foreign exchange inflows.

Meanwhile, Nigeria’s foreign exchange inflows through International Money Transfer Operators (IMTOs) have continued to weaken. According to data from the CBN’s latest Quarterly Statistical Bulletin, FX inflows through IMTOs declined by 6 percent quarter-on-quarter to $888 million in the first quarter of 2025.

A report by FBNQuest noted that this marks the second consecutive quarterly drop in inflows through the IMTO channel, with a year-on-year contraction of 18 percent.

The report added that apart from the two most recent quarters, IMTO inflows had recovered strongly since the fourth quarter of 2023, following the central bank’s reforms aimed at improving transparency and pricing in the FX market, alongside revised guidelines governing IMTO operations. As a result, total diaspora remittances through formal IMTO channels rose to almost $4.8 billion in 2024, compared to about $3.3 billion in 2023.

However, in the first quarter of 2025, the surplus in the current transfers segment of the current account fell by 18 percent quarter-on-quarter to $5.3 billion, partly due to a 4 percent decline in diaspora remittances. Analysts believe the drop in IMTO inflows could be linked to increased use of informal channels and cryptocurrencies, which have become popular alternatives for cross-border transfers.

Restrictive immigration policies in major remittance source countries, such as the United States, the United Kingdom, and Canada, are also seen as limiting remittance inflows, as fewer work opportunities for Nigerians abroad reduce earning capacity. Additionally, persistent inflation in these countries, which remains above the 2 percent target, has further squeezed disposable income and constrained remittance volumes.

Despite the decline, analysts at FBNQuest observed that the overall impact on Nigeria’s foreign exchange market remains moderate since IMTO inflows account for about one-fifth of the total $5 billion in annual diaspora remittances. They added that sustained foreign exchange market reforms, enhanced remittance infrastructure, and deeper engagement with the diaspora community will be crucial to stabilising inflows and supporting naira liquidity in the coming months.

Nigeria must pursue diplomacy, not confrontation, to counter the economic fallout from U.S. President Donald Trump’s recent threat of military action against the country, Paul Alaje, Chief Economist and Partner at SPM Professionals said on Tuesday.

Alaje, who is also the Convener of the upcoming TPAColloquium 2025, warned that the real danger lies in panic and economic perception rather than an actual attack. ‘Like COVID, the target is not your health. The target is your economy,’ he said at a press conference in Abuja ahead of the event. ‘People should understand that perception in economics is more important than reality. No bomb has been thrown to Nigeria, no missile has been thrown, but there is a real panic mood.’

His comments come a fews days after Trump declared that Nigeria faces the risk of U.S. military intervention unless it curbed what he termed the ‘killing of Christians’ by Islamist militants, ordering the Pentagon to ‘prepare for possible action’ and warning that all U.S. aid could be stopped if Abuja did not act.

The threat followed Nigeria’s re-designation as a ‘Country of Particular Concern’ with respect to religious freedom, amid decades-long security challenges involving insurgents such as Boko Haram and violent herder-farmer clashes that analysts say affect both Christians and Muslims.

Alaje explained that even without physical conflict, the market reaction to the U.S. president’s remarks has already triggered capital flight, dampened investment, and created anxiety across the financial sector. ‘Our foreign reserve is at over $42 billion, that’s a lot for a nation knowing where we are coming from,’ he said. ‘If this situation persists, it might go down because already people are moving their money away from stocks to safer environments.’

The economist cautioned against divisive rhetoric and urged both citizens and the media to project confidence in Nigeria’s stability. ‘This is not the time to condemn the government,’ he said. ‘Everyone that has the privilege to be in the media space must speak confidence into the system. When the heaven falls, it will fall on all of us.’

Alaje urged authorities to intensify diplomatic engagement with Washington and allies around the Gulf of Guinea to de-escalate tensions. ‘Our leadership should engage, discuss, and not wait until the threat falls on all of us,’ he said. ‘If President Trump changes his speech today to ‘Nigeria is safe,’ you are going to see an inflow of investment more than what you’ve seen before. President Trump is, quote-unquote, the number one citizen of the world. When he speaks, the markets listen.’

He further warned that prolonged uncertainty could hurt employment, growth, and poverty reduction efforts. ‘It will have implications on unemployment, poverty, and almost all macroeconomic indicators,’ Alaje said, stressing that diplomatic restraint is the most effective response. ‘Instead of going combatant, it is to adopt a diplomatic approach. People must understand that this nation comes first. For most of us, we don’t have any other alternatives.’

In her remarks, Fehintoluwa Oduekun, Chairperson of TPAColloquium 2025, echoed Alaje’s call for calm, describing Trump’s statement as a ‘wake-up call’ for the Nigerian government to act decisively. ‘I believe that the government, with all the information we have from the Nigerian Stock Exchange yesterday, with that sharp drop in investment, will rise up to the challenge to address the situation urgently,’ she said.

Oduekun acknowledged that while some of Trump’s concerns ‘are true to an extent,’ they have been exaggerated in ways that could harm Nigeria’s global image and investor confidence. ‘We also, as Nigerians, need to speak out from our different platforms to say that, yes, it’s terrible, but not to the extreme of what it is to cause a chaotic environment for us in Nigeria,’ she said.

She emphasised the need for clear communication and coordinated government response to steady the markets. ‘If the stock market is affected, we know that other businesses and foreign investments may be affected. So we believe that this information from the Stock Exchange is a wake-up call for the Nigerian government to act immediately,’ Oduekun added.

The press conference also previewed this year’s TPAColloquium, scheduled for November 15, 2025, at the NAF Conference Centre, Abuja, under the theme ‘Breaking the Cycle: How Nigeria Can Beat Africa from Poverty to Prosperity.’

The event, organised by the Paul Alaje Foundation, will feature Vice President Kashim Shettima, former Kenyan anti-corruption advocate Patrick Loch Otieno Lumumba, and several governors and business leaders among its speakers.

The thematic areas for this year include: economic transformation, governance and institutions, technology and innovation, security and stability.

The colloquium will also reward and recognise three distinguished students who have submitted their entries for essay competition in three categories – secondary school, undergraduates and postgraduates on different topics around the four thematic areas.

Alaje said the colloquium’s mission is to produce policy ideas that can stabilise Nigeria’s economy and build resilience amid global volatility. ‘Stability does not mean prosperity, but stability can lead to prosperity,’ he said.

‘This is the time to protect that stability, build investor confidence, and show the world that Nigeria remains open, secure, and ready for growth.’