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The Oyo State Government has expressed readiness to partner with investors who believe in the economic drive of the Seyi Makinde administration.

This was made known by Dotun Oyelade, Commissioner for Information, who led the team from the ministry to the Royal Entertainment Cruise Resort at Eleyele in Ibadan.

The facility which features a range of attractions such as a paint ball arena, children’s play area, snooker hall, boat cruise dock with several boats, speedboats, and a relaxation area that gives visitors a complete fun experience.

Speaking during the visit, Dotun Oyelade commended the Chief Executive Offficer, Sanmi Bamidele for his creativity and investment drive, describing the project as one that perfectly aligns with Governor Seyi Makinde’s vision to make tourism a key part of Oyo State’s economy.

‘We are delighted to see this kind of forward-thinking investment here in Oyo State, Governor Seyi Makinde’s administration believes that tourism can create jobs, boost local economies, and showcase Oyo as a leading destination for culture and leisure in Nigeria.’ he said.

Governor Babagana Zulum of Borno State has said hat the State is an undisputed stronghold of the All Progressives Congress (APC) and remains loyal to the leadership of President Bola Tinubu.

The governor made the assertion on Monday during flag-off of the APC North-East e-registration workshop in Maiduguri.

The occasion, which brought together national party leadership, State executives, local government chairmen, and members of the national and State assemblies, was convened to ensure the party’s membership e-registration exercise as part of the digital reform process.

Governor Zulum, addressing the gathering, said, ‘I want to assure you that the Government of Borno State under my leadership will provide the desired support to ensure the success of the APC membership e-registration exercise in the North-East.’ ‘Our party members in other states governed by other political parties will be supported to get captured.’ Govenror Zulum further stated, ‘Let there be no doubt in anyone’s mind, Borno State is 100% for the APC. Our loyalty to the party and its leadership is absolute,’ Governor Zulum declared.

‘Let us be frank and remember our recent history. Before the APC came to power, Borno State was on its knees. Our local governments were under siege, our economy was shattered, and our people were living in fear.

‘But look at where we are today. The narrative is shifting, and this shift is due to the relentless efforts and massive support from the APC-led federal government.

‘From the late President Muhammadu Buhari’s administration, we received unprecedented support in our fight against terrorism. We witnessed the establishment of the North East Development Commission (NEDC), which has played a crucial role in rebuilding our communities and infrastructure.’

‘Now, under our leader, President Asiwaju Bola Ahmed Tinubu, this support has not wavered; it has been strengthened. The President has shown a deep commitment to the final restoration of peace in Borno and the entire North-East. The Federal Government is actively collaborating with our administration to ensure the safe resettlement of our people and the rebuilding of their livelihoods.

‘The evidence is clear for all to see. The APC government at the federal level has been a true partner in our journey from the storm to normalcy. For the first time, our son became the Vice President of Nigeria under the APC.’

‘I wish to reiterate my call to the good people of Borno State to join me in supporting the re-election of President Tinubu in the 2027 General Elections. Let us begin to build that momentum now. Let us work together to ensure his visionary leadership continues to guide our nation forward’, Governor Zulum concluded.

Federation transfers to state governments surged by 110.74 percent in 2024, rising from ?5.4 trillion in 2023 to ?11.38 trillion, according to the Central Bank of Nigeria (CBN).

Muhammad Sani Abdullahi, Deputy Governor (Economic Policy) CBN, who disclosed this on Tuesday in Abuja during the launch of BudgIT’s ‘State of States 2025’ report, described the increase as a result of recent economic reforms, including fuel subsidy removal and foreign exchange unification, which have significantly boosted revenue inflows to subnational governments.

Abdullahi also called on state governments to maintain fiscal discipline and channel the recent surge in revenues inflows into long-term, people-centered development outcomes.

Abdullahi noted that 2024 marked a year of unprecedented fiscal flows for most subnational governments, with federation transfers soaring more than doubling year-on-year.

‘The Windfall Year: N11.38 Trillion total Federation Transfers in 2024. A surge from N5.4 Trillion in 2023

‘The 2024 fiscal environment was reshaped by the removal of the petrol subsidy and exchange rate unification, leading to unprecedented inflows.

‘For the first time in years, capital expenditure at the state level overtook recurrent spending, with capex surpassing personnel and overheads by over N1 Trillion.’

He, however, cautioned that higher inflows must be matched with discipline and efficiency.

‘Fiscal discipline, not inflows, will define transformation. The states that will see real progress are not necessarily those with the biggest revenues, but those able to sustain prudent spending and channel funds into pro-poor investments,’ Abdullahi said.

Highlighting key findings from the State of States report, Abdullahi noted that for the first time in many years, capital expenditure at the subnational level has overtaken recurrent spending, describing it as a positive and historic shift.

He urged states to lock in this fiscal balance by digitizing internal revenue systems, completing Treasury Single Account (TSA) implementation, and strengthening budget transparency.

He however pointed to persistent execution gaps in budget implementation, especially in education and health, as well as growing exposure to foreign currency-linked debts.

He also said that the bank is developing an instrument to help states hedge against FX risks and manage external obligations more effectively.

Abdullahi also encouraged state governments to raise budget execution in social sectors above 80 percent and compete on measurable outcomes such as education, primary healthcare delivery, and infrastructure quality. ‘We must institutionalize performance scorecards that link budgets to service delivery. This is how we move from numbers to impact,’ he said

Also speaking at the event, Oluseun Onigbinde, Global Director of BudgIT, said the State of States initiative was never intended to be ‘transparency for transparency’s sake’ but a sustained effort to assess the fiscal health, economic capacity, and service delivery potential of Nigeria’s 36 states.

‘When we began this work in 2016, it was almost impossible to find credible data at the state level. We wanted to understand not just how transparent states were, but whether they had the fiscal strength to deliver goods and services for their citizens,’ Onigbinde recalled.

He said BudgIT’s data-driven approach has helped make transparency a competitive advantage, as governors, commissioners, and financial institutions now pay close attention to their state rankings and fiscal performance.

‘From a time when only five states published budgets to now when most states publish both budgets and performance reports, the culture of openness has deepened, Transparency has moved from obligation to competition,’ he said.

He highlighted that while states have recorded remarkable fiscal growth with many doubling or tripling revenues in one year, the real test is how well those funds translate into improved education, healthcare, infrastructure, and livelihoods.

‘States are now awash with cash, But the question we must keep asking is whether these windfalls are producing better outcomes for the people,’

The BudgIT director announced several new initiatives to strengthen subnational fiscal analysis, including the State of States Fellowship, which will provide research grants to postgraduate students to generate deeper insights from BudgIT’s decade-long data repository. On his part, Razaq Fatai, representing the Chairman of the Nigeria Governors’ Forum (NGF), commended BudgIT for sustaining the State of States report as an independent and credible assessment tool that supports fiscal transparency at the subnational level.

He said the forum remains committed to deepening accountability through ongoing reform initiatives such as the State Fiscal Transparency, Accountability, and Sustainability (SFTAS) programme and the State Action on Business Enabling Reforms (SABER) project, both of which have strengthened fiscal reporting and improved the investment climate across states.

‘This dialogue sits at the intersection of policy learning and citizen trust, It reminds us that data, incentives, and collaboration between government and civil society can build stronger, more accountable states,’ he said

The 2025 edition of the State of States report, themed ‘A Decade of Subnational Fiscal Analysis: Growth, Decline, and Middling Performance’, highlights fiscal trends across Nigeria’s 36 states, benchmarking transparency, capital investment, and debt sustainability.

Bauchi State Governor Bala Mohammed Abdulkadir on Tuesday swore in the newly appointed five government officials in order to help him in discharging the state affairs together.

The inauguration ceremony was held at the chambers of the executive council in the Bauchi State government house.

The newly appointed officials include Hadiza Abdulkadir Gambo as Honourable Commissioner of Affairs, Jummai Salamatu Abubakar as chairperson of the Bauchi State Independent Electoral Commission (BASIEC). Other appointees are Iliya Isa as the executive chairman of Dambam Local Government, Babaji Idris Shehu as State Auditor General and Abubakar Usman Misau as permanent commissioner of the Bauchi State Independent Electoral Commission (BASIEC). The governor charges the newly appointed government officials to discharge their duties with the fear of God, accountability and transparency.

Speaking on behalf of the appointees, Abubakar Usman Misau expressed their appreciation to Governor Bala Mohammed Abdulkadir for seeing them worthy to be appointed in various departments.

He promised that they would work diligently for the development of Bauchi State.

Adding that on behalf of all the newly appointed, they will not and never take their appointments for granted, but to work with the fear of God.

A new socio-political organisation, E’Ekpede Initiative, has been officially launched in Uyo with the aim of mobilising grassroots support for the re-election of President Bola Tinubu, Senate President Godswill Obot Akpabio and Governor Umo Eno in the 2027 General elections.

Briefing journalists at the Nigeria Union of Journalists (NUJ) Press Centre, Information Drive, Uyo, Kufre Inima, Chairman of the Board of Trustees of the Initiative, described the movement as ‘a child of necessity’ – conceived out of the desire to promote unity, continuity, and renewed hope in Akwa Ibom State and across Nigeria.

According to Inima, the E’Ekpede Initiative was established to ‘push the right narrative, deepen democratic values, and provide clear direction for the people of Akwa Ibom State’ while countering political misinformation and divisive tendencies.

‘Our mission is unmistakable. we are poised to promote and support the reelection of our President, Bola Ahmed Tinubu; our Senate President, Godswill Akpabio; and our Governor, Pastor Umo Eno.

‘This is not out of selfish interest but in the overall interest of our people – to ensure continuity, stability, and accelerated development’, he said. He noted that the group remains committed to sustaining the current developmental trajectory of both the State and the nation through civic engagement, voter enlightenment, and grassroots mobilisation.

The group commended President Tinubu for implementing policies that empower State Governments to drive grassroots development, describing his Renewed Hope Agenda as a framework that has strengthened economic stability and enhanced state autonomy.

It also lauded Governor Umo Eno for his empathetic and people-centered leadership, particularly in rural transformation, job creation, and inclusive governance.

Inima further observed that with Akwa Ibom State now politically aligned with the Federal Government, the State stands to enjoy greater federal presence and developmental opportunities.

Responding, Nsibiet John, Akwa Ibom State NUJ Chairman, urged the group to maintain close collaboration with journalists in the State to ensure accurate and responsible reportage.

Transnational Corporation PLC, Africa’s leading listed conglomerate, has announced its unaudited financial results for the third quarter of 2025, recording a 20.5% rise in Profit After Tax (PAT) to ?91.4 billion, compared to ?75.9 billion in the same period of 2024.

The Group maintained a strong gross profit margin of 48%, reflecting disciplined cost management, strategic pricing, and an unwavering focus on operational efficiency across all business units.

The conglomerate posted a 39 percent year-on-year increase in revenue, rising from ?297.7 billion in Q3 2024 to ?413.4 billion in Q3 2025. Profit Before Tax (PBT) also grew by 18 percent to ?124.5 billion, up from ?105.5 billion recorded in the corresponding period last year.

Transcorp’s performance underscores its sustained growth trajectory, supported by a resilient business strategy and operational excellence across its subsidiaries. All operating units delivered significant growth, particularly in power generation, where the Group expanded capacity at its plants, and in hospitality, where the addition of the 5,000-capacity Transcorp Centre Abuja boosted revenue streams.

Commenting on the results, Tony O. Elumelu, Chairman of Transcorp Group, said the robust earnings performance highlights the immense opportunities within the Nigerian economy.

‘Our diversified portfolio continues to offer investors access to the key drivers of Nigeria’s growth potential. As the macroeconomic climate improves, the Group is well-positioned to take advantage of Nigeria’s extraordinary opportunities. We are executing our impact-driven mandate through strategic investments that strengthen our leadership in vital sectors. Our diversified model continues to demonstrate resilience and generate significant value,’ he stated.

Elumelu further noted that Transcorp’s commitment to national development remains strong, particularly through power generation and hospitality. ‘In power, we are closing Nigeria’s energy deficit by increasing capacity across our plants, empowering Nigerians, and driving development. In hospitality, we are redefining excellence with the landmark Transcorp Centre Abuja, setting new standards for world-class events. We remain focused on delivering superior shareholder returns and driving Nigeria’s long-term transformation,’ he added.

Also speaking on the results, Owen Omogiafo, president/Group CEO of Transcorp Group, said the company’s performance reflects successful strategy execution and operational excellence.

‘Transcorp Group’s Q3 2025 results demonstrate the success of our strategic direction and our commitment to efficiency across the portfolio. Driven by our purpose to ‘Improve Lives and Transform Africa,’ we continue to optimise our businesses to deliver superior stakeholder value.

‘As Nigeria’s leading conglomerate, with a disciplined approach to corporate strategy, we are positioned to end the year with strength and sustained momentum. We offer investors unique access to the Nigerian economy, delivering sustainable returns for shareholders while championing national growth,’ she stated.

The long-awaited relocation of Computer Village, Ikeja, to the newly designated ICT and Business Park in Katangowa, Agbado-Oke Odo, has taken a major step forward as the Lagos State government and project developers announced flexible payment options to ease traders’ transition to the new site.

Speaking at a stakeholders’ meeting in Alausa, Arc. Gbolahan Oki, the permanent secretary, office of urban development, reaffirmed the Sanwo-Olu administration’s determination to finally complete the relocation after years of stalled efforts.

Oki said the initiative aligns with the governor’s vision of sustainable urban development and a cleaner, more organized city.

‘The present site of Computer Village was originally designed for residential purposes but has been overtaken by unplanned commercial development. Governor Babajide Sanwo-Olu has directed that the new ICT Park in Katangowa must meet international standards to ensure a seamless relocation process,’

Oki explained.

According to him, the 15-hectare Katangowa ICT and Business Park will feature modern infrastructure, including trailer parks, hotels, banks, a police station, fire station, and other community facilities that will make it a fully serviced business environment.

Oki urged all stakeholders to cooperate with the government and the developer to ensure an orderly transition, stressing that the move would benefit both traders and residents. ‘We want this relocation to be an improvement for everyone, not just a change of location, but a better quality of life and business experience,’ he added.

In response, Mrs. Abisola Azeez, Iya Oloja of Computer Village, expressed satisfaction with the state government’s renewed commitment and transparency in the process. ‘All my fears have been allayed. I urge the developer to adhere strictly to the approved designs and timelines so that this relocation can finally be completed in its entirety,’ she said.

Sam Ajose, the developer, who also attended the meeting, commended the Lagos State Government for its support and assured traders that the relocation would be carried out in phases to minimise disruptions. He announced that a flexible payment plan has been introduced to accommodate traders of varying capacities, allowing them to secure spaces in the new market without financial strain.

‘This project is for the long-term growth of Lagos’ ICT sector. We want every trader who helped build Computer Village to be part of the new Katangowa ICT Park,’ Ajose said.

Launched on October 28, 2025, SyncAll introduces a groundbreaking platform built to structure, protect, and monetize African music data, preserving culture and powering the continent’s creative economy.

SyncAll, after winning an award as second runner-up for the Most Innovative Product at the reputable AfCFTA Hackathon, 2025, has now today announced the official launch of the continent’s end-to-end music licensing marketplace, designed to bridge the gap between global media buyers and African music creators. SyncAll is a metadata enrichment, music licensing, and rights clearance platform designed to build the foundation for Africa’s intangible assets’ economy. The platform goes beyond rights owners’ data to provide more structured song-level data which clarifies cultural context to make African music easier to discover, license, and monetize worldwide.

SyncAll via a ‘quotation request model’ provides a streamlined, secure environment where creators can directly license their works to diverse users for various types of music use projects, including movies, television, video games, commercials, and VR/AR experiences, eliminating fraud, advancing music discovery and enriching rights holders.

‘The soul of Africa echoes in its music, yet for too long, a lack of infrastructure has led to a cultural erosion of our audio assets and restricted our music from being fully discovered on the global stage. Through our IP firm, Digital Music Commerce and Exchange Limited (DMCE), we have facilitated and supervised the clearance of over 250 songs for various sync purposes and distributed over $2,000,000 in royalties while solving countless licensing issues behind the scenes,’ said Ezekiel Olayinka, CEO of SyncAll.

‘Now, with SyncAll, we are digitalizing this process to be efficient, transparent, and global. From metadata curation to sync licensing, cultural context to specific royalties collection in appointed territories, we’re making sure African music isn’t just heard, but recognized, credited, and paid for’.

‘We have invested in tackling this head-on with a clear vision: within the first three years, to invest in enrichment, aggregate 25% of African music metadata, and engage market wide stakeholders and secure over 700+ licensing deals within Africa and across in the globe.’ said Opeyemi Iredumare, Chairman, Nubian Commerce Group. Iredumare further discussed that SyncAll will enable music clearances in five simple steps, streamlining the process and opening the door to the $10 billion global music synchronization market by 2030. By building this foundation of comprehensive metadata enrichment, SyncAll intends to be the crucial shield that preserves, promotes and provides a unified digital marketplace for Africa’s infinite cultural heritage.

Through its proprietary metadata system and licensing dashboard, SyncAll provides:

? Comprehensive cultural metadata enrichment that ensures accurate song documentation

? Simplified rights licensing that connects African creators directly with global buyers, and

? Rights management that protects creators’ ownership and ensures they are adequately credited and compensated for their work..

SyncAll’s vision goes beyond technology, it’s about preserving African culture, enabling fair intellectual property trade, and rewriting how African music is valued and discovered globally.

By organizing Africa’s vast music data, SyncAll is positioning the continent’s creative industry for sustainable digital growth.

World No. 2 Jannik Sinner has ruled himself out of the race to finish the 2025 season as the ATP World No. 1, admitting that overtaking Carlos Alcaraz is no longer within his control.

The 24-year-old Italian tennis star, who held the top spot for 65 weeks before being dethroned by Alcaraz after the US Open final loss in September, said his focus has shifted to preparing for next year.

‘It’s impossible to finish the year at No. 1,’ Sinner told reporters ahead of his Paris Masters opener. ‘Honestly, I’m not thinking about that right now. It’s going to be a goal for next year.’

Despite trailing Alcaraz by fewer than 1,000 points, Sinner believes the odds are stacked against him. The Italian could reclaim top spot by winning in Paris Masters, and Alcaraz fails to reach the semi-finals, but he would still need to defend 1,500 points at the ATP Finals in Turin, where he triumphed last year.

‘This year it’s not in my hands,’ Sinner admitted.

Sinner arrives in Paris Masters in strong form after winning the Vienna Open, though the packed schedule has taken a physical toll. He retired with cramps at the Shanghai Masters earlier this month and later battled thigh discomfort in Vienna.

‘It was not the same issue at all in Vienna,’ Sinner explained. ‘The final was very physical. It can happen, but I feel good now, a bit tired, of course, after five matches in a row, but I’m recovering better each day.’

The Italian begins his Paris Masters campaign against Belgium’s Zizou Bergs, knowing that while the year-end No. 1 may be out of reach, momentum heading into 2026 remains crucial.

Rivers State, one of Nigeria’s key economic hubs, was notably absent from the recently released 2025 State Fiscal Performance Index, raising concerns about transparency and the fiscal health of the state government.

Produced by BudgIT, the index assesses states based on debt sustainability, revenue generation, and budget reliability.

According to BudgIT, Rivers was excluded due to the unavailability of relevant data following months of political instability in the state.

In March, President Bola Tinubu declared a state of emergency in Rivers, suspending Governor Siminalayi Fubara, his deputy, and all elected officials, and appointed Ibok-Ete Ibas, Vice Admiral (rtd), to oversee the state’s affairs.

The officials were reinstated six months later, on September 18, after the president announced the end of the emergency rule.

BudgIT explained: ‘Rivers State is excluded from this report due to the removal of elected officers under the state of emergency. The state failed to produce an audited financial statement at the time of final data compilation for this report.

‘The implications are significant, as the absence of Rivers from the ranking means its usual top-five position will be taken by another state. It also affects subnational comparisons on IGR performance, given Rivers’ outsized influence on national averages.

‘For instance, Rivers’ gross FAAC allocation in 2023 exceeded the combined FAAC of Zamfara, Plateau, Sokoto, and Ogun. We look forward to featuring the state in the 2026 edition following the end of the emergency period.’

Rivers State’s exclusion is conspicuous, given that it topped BudgIT’s 2024 State Fiscal Performance Report in several key indices, including limited dependence on FAAC (Index A), ability to implement capital expenditure after meeting operating and loan obligations (Index B), and prioritisation of capital spending over recurrent expenditure (Index D).

With Rivers missing, other states have climbed in the rankings. Anambra now leads the 2025 fiscal performance list, followed by Lagos, Kwara, Abia, and Edo.

At the lower end of the ranking are Plateau, Kogi, Jigawa, Benue, and Yobe States.

The report also ranked Enugu, Lagos, Abia, Anambra, Kwara, and Ogun as the states with the least dependence on federal allocations, indicating stronger fiscal viability if they were to operate independently.

Conversely, Imo, Kogi, Jigawa, Benue, and Yobe ranked lowest in this category, highlighting heavy reliance on federally distributed revenues.

BudgIT urged lower-performing states to strengthen their Internally Generated Revenue (IGR) base and improve their business environment to enhance domestic resource mobilisation.

‘The lower-ranking states need to work harder to grow IGR or reduce operating expenses to achieve fiscal sustainability,’ the report said.