Gold exports rise to record $4.3 billion

Dar es Salaam. Gold has reclaimed its position as Tanzania’s leading export earner, crossing the $4 billion mark for the first time in years, driven by record-high global prices and growing investor demand for safe-haven assets.

According to the Bank of Tanzania’s (BoT) September 2025 Monthly Economic Review, gold exports jumped 35.5 percent year-on-year to $4.32 billion in the year ending August 2025 — up from $3.19 billion in the corresponding period last year. The BoT attributes the boom to soaring international prices, which climbed to $3,368 per troy ounce in August, compared with $3,340 in July.

“The price of gold bolstered by central bank acquisitions, strong safe-haven demand, and anticipations of interest rate cuts,” the central bank stated in part. The revenue from gold exports has also surpassed travel receipts, which increased to $3.84 billion in the year ending August 2025, compared to $3.77 billion previously, suggesting continued strengthening of tourism activities, as international tourist arrivals grew from 2,051,404 to 2,287,377. Despite the impressive numbers, analysts caution that not all the $4.3 billion from gold exports stays within Tanzania’s economy.

The figure reflects the gross export value, which includes earnings repatriated by foreign-owned mining companies after taxes and operating costs. A lecturer at the Tanzania Institute of Accountancy (TIA), Dr Gorah Abdallah, explained that the cost of extraction and the ownership structure of large-scale mines limit how much of the revenue remains onshore.

“Extracting gold requires enormous investments in machinery and technology — something most local companies cannot afford,” he said. “As a result, Tanzania relies heavily on foreign investors or joint ventures.

Much of the export value goes to covering operational expenses, leaving only a portion as net inflows.” Dr Abdallah added that while gold production volumes are high, the retained value in the domestic economy could be low once costs, imports, and profit repatriation are accounted for.

“We need to be cautious and look at the real balance between production costs and actual income,” he said. He added; “The long-term goal should be building local capacity — through education, technical training, and financing — so Tanzanians can play a leading role in extraction and exports.

That’s how the country can secure more value from its resources.” The renewed dominance of gold exports has revived debates about transparency and fair revenue sharing in Tanzania’s mining industry.

Economics expert at Mzumbe University, Prof Haruni Mapesa, said that while the high prices present a golden opportunity for the country, the benefits depend on how effectively the government collects and manages mining revenues. “It’s true that gold comes from both local and foreign companies, including joint ventures.

But converting that into economic growth depends on the transparency of revenue flows — how much companies declare, how much tax is collected, and whether the government gets its rightful share,” he said. Prof Mapesa said that Tanzania has made progress in reforming its mining laws over the past decade, but some contracts remain opaque.

“The government and regulators must review all existing contracts to ensure the country benefits fairly. When prices rise like this, it shouldn’t only be mining companies that gain — Tanzania as a nation should too,” he said.

The mining windfall is also having a macroeconomic impact. In its October 2nd, 2025, Monetary Policy Committee statement, BoT governor Emmanuel Tutuba reported that foreign exchange liquidity in the economy had improved significantly, supported by gold earnings, tourism inflows, and cash crop exports.

“The Shilling was stable against major currencies, appreciating by 8.4 percent against the dollar, compared with a modest appreciation of 0.

7 percent in the preceding quarter,” said Mr Tutuba. He added that reserves remained strong at $6.7 billion, enough to cover more than five months of imports — well above the country’s target and the East African Community benchmark.

“Foreign exchange liquidity is expected to continue improving, supported by seasonal tourism peaks, ongoing cash crop harvests, and high gold prices,” he said. The exports boom aligns with a broader resilience in Tanzania’s economy, which the central bank estimates expanded by 5.

4 percent in the first quarter of 2025, up from 5.2 percent in the same period in 2024. The key drivers to this growth were mining, agriculture, financial and insurance services, construction, and manufacturing activities.

The central bank projects a growth of more than 6 percent in the second and third quarters, with similar momentum expected in the fourth quarter, supported by strong public and private investment and robust export performance. .

Alleged forgery: Court insists on arraignment of lawyer on Wednesday

A Federal Capital Territory (FCT) High Court on Monday insisted that an Abuja-based Lawyer, Victor Giwa will be arraigned on Wednesday.

Giwa and Ibitade Bukola are charged by the Nigeria Police Force with forgery and impersonation.

At Monday’s proceedings, Justice Jude Onwuegbuzie, declined to proceed with arraignment. saying the case was not listed on the court’s cause list.

Giwa, who appeared in court representing himself, was arrested following a bench warrant issued on Sept. 15.

Bukola, the police said remained at large.

The Prosecution Counsel, Mr Theophilus Silas, told the court he was prepared for arraignment or, alternatively, to proceed with a bail application.

However, Justice Onwuegbuzie maintained that the matter had not been listed for hearing.

‘The court did not grant any abridgment of time for arraignment,’ the judge said.

NAN reports that the initial arraignment failed on Sept. 15, prompting the court to issue a bench warrant.

Giwa and Bukola are accused of conspiring to forge a legal document purportedly issued by the chambers of the Senior Advocate of Nigeria (SAN), Awa U. Kalu, with the intent to mislead the Attorney General of the Federation (AGF).

The contentious letter had sought intervention to halt an arraignment scheduled before Justice Samira Bature of the High Court in Maitama, Abuja, on July 2, 2024.

BBNaija S10: ‘Dede was robbed’, Delta governor’s threatens legal action against organisers

The Senior Special Assistant on media to the Delta State Governor, Mr. Ossai Ovie Success, has threatened to take legal action against that organisers of Big Brother Naija show.

Shortly after the winner of the 10th season of the show was announced, Ossai took to his X handle to express his annoyance about the result.

He claimed that the first runner-up, Dede, was robbed of her position as the winner.

‘Dede was robbed by BBNaija organizers because Delta boy Kellyrae won last year’s season, so they didn’t want another Delta to win this year’s edition. She truly deserved the Big Brother Naija crown, not the second position. She ought to have been the winner, not because she’s from Delta, but because she made everyone who watched the show proud,’ he wrote.

Ossai also added that he plans to take legal action on the claims that the voting results was rigged. He also expressed his disappointment in the result.

‘I’ll be suing Big Brother Naija on behalf of Dede because the voting was rigged. I’m highly disappointed in this season,’ he added.

Full List: FIFA U-20 World Cup round of 16 fixtures announced

The Round of 16 fixtures for the ongoing FIFA U-20 World Cup have now been officially confirmed following the completion of the group stage matches played in the early hours of Monday morning.

Nigeria’s Flying Eagles booked their place in the knockout stage after holding Colombia to a hard-fought 1-1 draw in their final group game.

The result ensured that the Nigerian side finished the group phase with four points from three matches, enough to secure a spot among the top 16 teams in the tournament.

Coach Aliyu Zubairu’s boys showed great determination throughout the group stage, combining solid defending with flashes of attacking brilliance.

Their resilience against Colombia, one of the tournament’s strongest teams so far, has further boosted the team’s confidence ahead of a tough test against Argentina in the next round.

In another group fixture, Norway also sealed qualification to the Round of 16 after a 1-1 draw with Saudi Arabia, a result that saw them progress on goal difference.

According to FIFA, the Round of 16 matches will be played from Tuesday to Friday, as the competition enters a crucial stage where every game is a potential decider.

Below is the full list of confirmed Round of 16 fixtures:

Ukraine vs Spain

Chile vs Mexico

Colombia vs South Africa

Argentina vs Nigeria

Paraguay vs Norway

Japan vs France

USA vs Italy

Morocco vs South Korea

Fans around the world are eagerly looking forward to these matchups, with several heavyweight clashes expected to produce thrilling moments as teams battle for a place in the quarterfinals.

Israel deports Greta Thunberg, 171 Gaza aid activists

Israel has deported climate activist Greta Thunberg along with 171 others after intercepting a flotilla attempting to deliver aid to Gaza.

The move comes after authorities stopped around 470 people aboard more than 40 civilian boats last week.

This marks the second time Thunberg has been turned away trying to reach Gaza by sea. Israel’s foreign ministry called the flotilla a ‘PR stunt,’ insisting all detainees were treated according to the law, while activists have alleged harsh conditions during detention.

The deported group included citizens from countries such as Greece, Italy, France, Ireland, Sweden, and the United States, sent back to Greece and Slovakia. The flotilla drew global attention amid the ongoing humanitarian crisis in Gaza.

Odumbaku backs PHC Taskforce, launches committee for vaccination drive

The Chairman of Ojodu Local Council Development Area (LCDA), Hon. Olusegun Odumbaku, has pledged his full support for the Public Health Centre (PHC) Taskforce recently established by the Lagos State Government to drive a statewide vaccination campaign against preventable diseases.

Odumbaku also announced plans to constitute a local committee within Ojodu LCDA to collaborate with the taskforce in ensuring the success of the immunisation exercise at the grassroots level.

His decision followed the inaugural meeting of the taskforce held on Tuesday at the Office of the Deputy Governor, Dr. Obafemi Hamzat, with all 57 council chairmen in attendance.

The meeting focused on strengthening disease prevention mechanisms and expanding immunisation coverage across communities.

During the meeting, the Deputy Governor underscored the crucial role of council chairmen in achieving the state’s goal of eliminating diseases such as polio and measles through improved PHC operations. He urged them to prioritise healthcare in their budgets and work closely with the taskforce.

‘The council chairmen are pivotal to achieving our objective of preventing communicable diseases by ensuring effective primary health care delivery within their domains,’ Hamzat said.

‘You are the closest to the grassroots, and your commitment to this campaign will determine its success.’

In his remarks, Odumbaku reaffirmed Ojodu LCDA’s readiness to partner with the taskforce to ensure that every child within the council receives necessary vaccinations.

‘My administration in Ojodu LCDA is in line with this vaccination campaign by the state. We take seriously the health of our children who are the future generations,’ he said.

‘Our commitment to this vaccination campaign is unwavering. We are going to set up a committee that will work with the taskforce,’ he added.

He added that the council would intensify public enlightenment, engaging parents, school proprietors, and religious leaders on the importance of immunisation against vaccine-preventable diseases.

Highlighting his administration’s investment in healthcare, Odumbaku recalled that since assuming office, four PHCs in Apata, Akiode, Powerline, and Gbadamosi have been renovated or rebuilt.

‘The Oluwole health centre has been equipped with state-of-the-art medical equipment, and we are working toward equipping others. We have also employed qualified medical personnel,’ he said.

Before Odumbaku’s administration, health centres within Ojodu LCDA were reportedly in poor condition. However, since his first term, the council has witnessed a major turnaround – with over 50 health workers employed and more than 600 minor surgeries successfully conducted across facilities in Oluwole, Powerline, and Akiode.

’Almost every day I cry’: Chiamaka Nnadozie opens up on lonely life in England

Super Falcons goalkeeper Chiamaka Nnadozie has opened up about the emotional struggles she’s faced since moving to England, admitting that she feels lonely and often breaks down in tears.

In an emotional chat with Versus on its Nothing Off the Table series, the 23-year-old said life in Brighton has been far from easy despite her growing success on the pitch.

‘Since I moved to Brighton, almost every day I cry because I feel lonely. I miss my family, my teammates, my coaches – they always try to check up on me to make sure I’m okay,’ Nnadozie said.

She explained that most people only see the glamour of professional football but rarely understand the struggles that come with it.

‘It’s not really easy. Sometimes people just think you come out on the pitch to play, but they don’t really know what goes on behind,’ she said.

The Nigerian shot-stopper, who helped the Super Falcons clinch their record 10th WAFCON title earlier this year, credited the warmth and unity of her new teammates for helping her settle into life in England.

‘The only thing that helps is having people who really care about you. Going to pre-season with the team also helped me a lot. The unity and everything I saw in the team were really good,’ she added.

Nnadozie, who has been widely praised for her leadership and composure between the sticks, remains one of Nigeria’s brightest exports in women’s football – and her emotional honesty has now sparked conversations about the mental toll of moving abroad for young athletes.

2027: Atiku’s camp eyes alliance with Obi to unseat Tinubu

Former Vice President Atiku Abubakar and the 2023 Labour Party presidential candidate Peter Obi could form the strongest opposition team against President Bola Tinubu in the 2027 elections, according to Demola Olarewaju, Special Assistant on Digital Media Strategy to Atiku.

Speaking on the Mic On Podcast, Olarewaju said that a partnership between Atiku and Obi could give Nigerians the benefit of both leaders’ ideas, describing it as a kind of ‘co-presidency.’

‘I think the best option is to have both of them on one ticket, so Nigerians can enjoy their combined leadership,’ he said.

Olarewaju praised Atiku as a loyal and consistent politician who always supports others even after losing elections.

‘He lost the 2011 primaries to Goodluck Jonathan but still worked for him and helped deliver Adamawa State.

That’s who Atiku is,’ he explained.

He also stressed the need for more youth involvement in politics, noting that the African Democratic Congress (ADC) plans to give 35 to 50 percent of its leadership positions to young people and women.

‘Nigerians need a party that values the energy and creativity of young people – including Gen Z and even Gen Alpha,’ he added.

Olarewaju further said that Atiku is open to stepping down for a younger candidate if he loses in the primaries but remains the strongest opposition contender for now.

‘The best and strongest opposition ticket for 2027 would be a partnership between Atiku and Obi,’ he concluded, adding that their shared political views make such a team both possible and powerful.

E1 Grand Prix will boost status of Lagos as dynamic city – Sanwo-Olu

Gov. Babajide Sanwo-Olu has said the E1 Lagos Grand Prix would further boost tourism, innovation, and international recognition for Lagos as a forward-looking and dynamic city.

Speaking at the event during the final race of the championship on Sunday, the Lagos State Governor noted that the all-electric powerboat competition, the first of its kind in Africa, aligned with Lagos’ vision of promoting sustainable initiatives and environmentally responsible investments

Sanwo-Olu commended the organisers and partners of the E1 Series for selecting Lagos as the first African host city of the championship.

He said the event was as a testament to the state’s innovation, creativity, and commitment to sustainability.

Sanwo-Olu said the occasion reflected Lagos’ progress and its drive towards clean energy and future-focused development.

‘Hosting the E1 Grand Prix is not just about sport. It is about innovation, environmental responsibility, and putting Lagos on the global map for future-focused development,’ Sanwo-Olu said.

He said the successful hosting of the event underscored Lagos’ readiness to attract and support global sporting and technology-driven initiatives.

The governor added that the E1 Lagos Grand Prix would further boost tourism, innovation, and international recognition for Lagos as a forward-looking and dynamic city.

Nigerians lament as cooking gas prices soar to ?1,800 per kg

The price of cooking gas (LPG) has gone up sharply in many Nigerian cities such as Lagos, Ogun, and Ibadan due to scarcity.

The shortage was caused mainly by a three-day strike by oil workers, which disrupted gas supply across the country.

Prices also increased in other states like Port Harcourt, Cross River, Kano, and Kaduna.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) went on strike last week to protest the sacking of some workers at the Dangote Refinery.

Although the strike has now been suspended, the temporary halt in supply caused many gas stations to run out of stock and led to rationing.

In many places, the price of cooking gas has jumped from about ?1,000 per kilogram to between ?1,600 and ?1,800.

In Abuja, refilling a 12.5kg cylinder now costs between ?17,000 and ?18,750, depending on the area. In districts such as Wuse, Garki, and Kubwa, a kilogram of LPG sells for between ?1,350 and ?1,500. Some gas outlets in Jabi sell a 12.5kg cylinder for about ?17,000.

Many retailers in Abuja said they had run out of stock by Sunday morning, while those who still had gas raised their prices.

In Lagos and Ogun States, gas prices also increased sharply. A kilogram sold for ?1,000 in Lagos and ?1,100 in Ogun last week, but by the weekend, prices rose to between ?1,300 and ?1,800 per kilogram.

An attendant at Ogun Gas Station in Ifo said the shortage began last Tuesday when new supplies stopped coming. By Saturday, the old stock had finished.

A resident of Ogun State, Mrs. Adams Olywaseun, said she could not get gas from two stations and had to buy at a nearby retail shop for ?1,800 per kilogram. ‘I only bought 2kg to manage until the price comes down,’ she said.

In Lagos, Mr. Hassan Sanni said he noticed the scarcity on Thursday. ‘The last time, I bought gas at ?1,000 per kg, but this time, it was ?1,300,’ he said.

The situation in Ibadan, Oyo State, is similar. Residents said gas has been scarce since Friday, with many stations closed due to a lack of supply. Those still selling had long queues of buyers.

Prices at depots went up from about ?900-?950 per kg to ?1,000-?1,100. Retail shops now sell between ?1,300 and ?1,500, and even higher in remote areas.

At BOVAS Petroleum Station, a kilogram sold for ?1,070 on Saturday, October 4, compared to ?970 three weeks earlier.

In areas like Awotan and Apete, residents also reported difficulty finding gas. A retailer in Awotan said, ‘We don’t have gas now. The last one we sold went for ?1,400 per kg.’

Residents believe the crisis is linked to ongoing disputes between tanker drivers and Dangote Refinery.

One resident said, ‘I have never seen this kind of queue before. It may be because of the Dangote and tanker drivers’ crisis.’

Overall, the shortage of cooking gas continues to affect homes and businesses across the country as prices rise daily.