The Crest

Category: Inside Nigeria

  • IMPI backs Tinubu’s Borrowings

    IMPI backs Tinubu’s Borrowings

    One of Nigeria’s foremost policy groups, the Independent Media and Policy Initiative (IMPI) has justified the borrowings of the President Bola Tinubu administration on the ground that it is the most realistic way to bridge the country’s massive infrastructure gap.

    In a policy statement signed by its Chairman Dr Omoniyi Akinsiju, the think tank argued that Nigeria’s infrastructure challenges were too vast for the annual budget to cover without the federal government resorting to borrowing.

    This according to IMPI is because the country is estimated to require a minimum annual spend of $14.2 billion over the next 10 years to bridge its infrastructural deficit after considering various estimates from international bodies.

    “Nigeria’s productivity and standard of living have been ascribed to the inadequacy of infrastructure over the years. While there is a seeming consensus on this assertion, there have been diverse estimates of the true value of the country’s infrastructure deficit.
    “The World Bank, which categorises Nigeria as a middle-income economy, estimated the Nation’s total infrastructure stock to be approximately 30% to 35% of its Gross Domestic Product (GDP). This ratio falls well short of the World Bank’s 70% benchmark for middle-income economies. Thus, it is projected that Nigeria will need an accumulated investment of up to $3 trillion over 30 years to bridge the infrastructure gap.

    “The African Development Bank (AfDB), on the other hand, estimated the value of the country’s infrastructure shortfall at $2.3 trillion, $700bn lower than the World Bank’s estimate. According to its erstwhile President, Dr Akinwunmi Adesina, Nigeria needs $15bn in annual investment over 20 years to bridge its infrastructure gap.

    “The International Finance Corporation (IFC), on its part, estimated a lower figure of $2 trillion over 20 years to bridge it. Still, KPMG, the global audit firm, estimated a much lower annual infrastructure spending of $14.2 billion over 10 years, totalling a sum of $142 billion to close the country’s huge infrastructure gap.

    “To establish which of the estimates can be realised in Nigeria’s perennially constricted revenue-generation circumstances, we put the different infrastructure deficit estimates to the test of probable outcomes, which determine the likelihood of specific results from a random event or experiment, often calculated as the ratio of favourable outcomes to total possible outcomes.

    “Among all the estimates, KPMG’s $142 billion estimate aligned more closely with the Nigerian situation, with a probable outcome indicating that spending $14.2 billion annually over 10 years (a total of $142 billion) is a key target to bridge Nigeria’s infrastructure gap.

    “Accordingly, sustained investment at this level, particularly in transportation, power, and digital infrastructure, will catalyse substantial economic growth and significantly reduce the deficit.

    “While this estimate will not absolutely provide the full bouquet of required infrastructure, the investment will shift Nigeria from an infrastructure-deficient state to one with a rapidly modernised, connected, and sustainable system. Such investment could generate roughly 3 to 4 times as many jobs in the economy, significantly reducing unemployment and addressing the poor condition of road networks, enhancing air transport safety, and facilitating faster growth to support a modern digital economy, among other benefits,” it said.

    While reeling out data from federal budgets in the past 25 years, the think tank noted that it was only on President Tinubu’s watch that the annual capital budget was close to what was prescribed to bridge the nation’s infrastructure gap.
    “We note at this juncture the near-perennial low budget implementation threshold since 2000, with the obvious inconsequentiality of appropriated expenditure on infrastructural development.

    “However, at this time, we acknowledge the record-breaking fiscal milestone set by the President Tinubu-led federal administration, which matched and exceeded KPMG’s $14.2 billion annual infrastructure spending estimate for the first time in Nigeria’s fiscal history.

    “Based on the approved 2026 Appropriation Act, the Nigerian government significantly expanded its fiscal framework, with the total budget breaking records. Remarkably, the budget allocated $23 billion (roughly half the total budget) to infrastructure and other capital expenditures.

    “Without doubt, the 2026 budget is indicative of a new vista in the nation’s fiscal firmament with emphasis on securing debts for infrastructure development.

    “The approved $23 billion infrastructure budget is about the same size as the budget deficit to be financed almost entirely through debt,” IMPI added.

  • Budget Office Clears Air on Budget Pile-up

    Budget Office Clears Air on Budget Pile-up

    STATEHOUSE PRESS STATEMENT

    FISCAL YEARS ARE DEFINED BY LAW, NOT THE CALENDAR

    Statement by Tanimu Yakubu, Director-General, Budget Office of the Federation, on the Publication Timeline of Quarterly Budget Implementation Reports

    The Budget Office of the Federation acknowledges public concerns regarding the publication timeline for the recent Quarterly Budget Implementation Reports and considers it important to provide clarification within the broader constitutional and fiscal context governing public finance administration in Nigeria.

    The fiscal year is not necessarily synonymous with the calendar year. The calendar year is a fixed chronological construct of twelve months running from January to December. The fiscal year, however, is a juridical and legislative creation whose duration, commencement, and terminal date are determined by the extant appropriation framework enacted by law. Accordingly, where the prevailing Appropriation Act or related legislative instrument authorizes expenditure, implementation, or validity beyond the ordinary twelve-month cycle, the operative fiscal year correspondingly assumes that legally extended character.

    In the case of the Federal Government of Nigeria (FGN), the practical operation of fiscal administration has at various times departed from the strict January–December calendar cycle through statutory extensions, supplementary appropriations, continuing resolutions, rollover authorizations, and Appropriation (Repeal and Re-enactment) Acts. The recent adjustment in the publication schedule arose principally from the Repeal and Re-enactment process of the 2025 Appropriation Act concluded in December 2025, together with the subsequent extension of the implementation period of the 2025 Budget to June 2026. These fiscal adjustments effectively extended the operational lifespan of the 2025 Budget beyond the conventional twelve-calendar-month framework ordinarily associated with a fiscal year.

    In substance and in law, therefore, the fiscal year becomes not merely a chronological concept, but a legislatively sustained expenditure window. This distinction is well recognized in comparative public finance jurisprudence and constitutional practice. In the United States, for example, the federal fiscal year runs from October 1 to September 30 pursuant to statutory prescription rather than the calendar year, while in India the fiscal year historically runs from April 1 to March 31. These examples demonstrate that fiscal years are policy and legislative constructs designed to accommodate macroeconomic management realities, budget implementation imperatives, and public finance administration.

    Nigerian constitutional practice equally supports this interpretation. Sections 80 and 81 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), do not constitutionalize a rigid twelve-month fiscal implementation cycle. Rather, they require that withdrawals from the Consolidated Revenue Fund be authorized by an Appropriation Act or other legislation duly enacted by the National Assembly. Consequently, where the National Assembly lawfully extends, reenacts, or preserves expenditure authority beyond a single calendar year, such authority remains legally valid and enforceable until its expiration under law.

    Judicial authorities in Commonwealth public finance jurisprudence have consistently emphasized the supremacy of legislative authorization in matters of public expenditure. In Attorney-General of Bendel State v. Attorney-General of the Federation, the Nigerian Supreme Court underscored the constitutional centrality of legislative control over public revenues and expenditures. Likewise, in Attorney-General v. De Keyser’s Royal Hotel Ltd, the principle was affirmed that executive expenditure powers are subordinate to statutory authorization where Parliament has legislated comprehensively on the matter.

    Practical fiscal history also offers useful illustrations. During periods of economic disruption, including the aftermath of the COVID-19 pandemic, several jurisdictions extended budget implementation windows to accommodate procurement delays, revenue shocks, and capital project continuity. Nigeria itself repeatedly extended the implementation period of capital components of appropriation laws to avoid the abandonment of ongoing projects, preserve contractor liquidity, sustain employment, and maintain macro-fiscal stability. Such extensions did not create constitutional anomalies; rather, they reaffirmed the principle that the fiscal year derives its operative life from legislative authorization and not from the immutable chronology of the Gregorian calendar.

    Following the Repeal and Re-enactment of the 2025 Appropriation Act and the extension of the implementation period, the Budget Office commenced comprehensive reconciliations involving revenue performance reviews, cash management adjustments, expenditure alignment, debt and financing updates, and enhanced inter-agency fiscal coordination processes to ensure the accuracy, integrity, completeness, and audit consistency of the Quarterly Budget Implementation Reports.

    Accordingly, the outstanding Quarterly Budget Implementation Reports are being finalized and will be released in phases over the coming weeks. In parallel, the Budget Office is strengthening its digital reporting architecture, data harmonization systems, and institutional coordination mechanisms to support more comprehensive, timely, and analytically robust fiscal reporting in line with evolving international public finance reporting standards.

    The Federal Government remains firmly committed to the principles of open budgeting, fiscal discipline, transparency, constitutional compliance, and accountable public financial management in accordance with global best practices.

    May 17, 2026

  • Tunji Braithwaite: Foundation Unveils Muyiwa Akintunde’s Book in Abuja Tomorrow

    Tunji Braithwaite: Foundation Unveils Muyiwa Akintunde’s Book in Abuja Tomorrow

    The Tunji Braithwaite Foundation (TBF) has concluded arrangements for the 1oth memorial anniversary of the lawyer, social justice crusader and politician, Dr. Tunji Braithwaite, which takes place on Saturday, 2 May 2026 at the Congress Hall of Transcorp Hilton Hotel, Abuja, the Nigerian capital.

    Among the highlights of the event, which will have President Bola Tinubu as Special Guest of Honour, is the unveiling of a commemorative book on the political icon. Written by a renowned journalist and Public Relations consultant, Mr Muyiwa Akintunde, the literary work expanded on the social justice and human rights crusade of the well-loved legal practitioner, who practised his profession in dogged pursuit of justice, particularly for the vulnerable.

    The book highlights that, for Braithwaite, who died on 28 March 2016 at 82, ‘rights and privileges shouldn’t be the prerogative of only the nouveau riche, but must also be available to the plebeian’.

    The book, which was conceived by the TBF, captures Braithwaite’s devotion to the cause he truly believed in, a cause he launched through his illustrious legal career, standing in defence of the oppressed without counting the cost. ‘His relentless fight on the side of what was just and true resonates in this book. Even in the face of the gun, he never buckled. For him, evil would never triumph with the will and determination to do the right things’, said Akintunde, who is the Publisher of Breezy News, an online newspaper that promotes ethical journalism.

    The book is to be reviewed by a Director of the Commonwealth Institute of Advanced and Professional Studies, Prof. Anthony Kila, who is a frequent commentator on ARISE News. He provides analysis on politics, economy, and policy, and also discusses leadership, constitutional issues and governance.

    The event theme is “Politics with Conscience: Leadership, Responsibility, and the Nigerian Social Contract”.

    A former Governor of Osun State, Chief Bisi Akande will be the Chairman of the event, while Lagos State Governor, Mr. Babajide Sanwo-Olu will be the Chief Host, while Nobel Laureate, Prof, Wole Soyinka will be a Guest of Honour.

  • Political Killings: Sad Owa Haastrup Curses Murderous Politicians

    Political Killings: Sad Owa Haastrup Curses Murderous Politicians

    ‎The Owa Obokun Adimula and Paramount Ruler of Ijesaland, Owa Clement Adesuyi Haastrup, Ajimoko III, has threatened to banish any politician who unleashes mayhem in his domain, or kills any Ijesa person in the name of politics.

    The monarch not only threatened to banish such murderous politician from Ijesaland, he also placed an anticipatory curse on their children, invoking the fire of God to consume them wherever they may be.

    The event was the induction of five worthy Ijesa achievers into the Obokungbusi Hall of Fame at Ilesa, on Easter Sunday. Joy was so palpable you could slash through with a knife.

    Among the five inductees was I. K. Dairo, the legendary juju music maestro who was honoured for the universality of his music which brought honour and deep appreciation to Africa and Ijesaland. Another inductee is Prince Abiodun Lufadeju, who wrote and composed the Ijesa Anthem. The anthem, the Owa noted in his address, has gained widespread popularity among Ijesas at cultural events, and has become a great tribute to unity and cultural heritage of Ijesaland.

    The other inductees were Dr. Lawrence Omole, who established the International Breweries, Imo, Ilesa; Pa Folorunso Awomolo, who, like Omole, single-handedly established the flourishing Imo Hills Farms that has generated great employment opportunities for Ijesa people. Then, there was the Yeye Owa, Dame Eunice Olayinka Obaleye, a renowned industrialist and founder of Yinka Oba Foam, who the selection committee said, “stands as the highest employer of labour in Ijesaland, the second highest in Osun State.”

    So, it was a day of joy for everyone. Owa Haastrup and his Oloris radiated profound joy.

    The monarch is naturally soft spoken and calm. But on Sunday, he lost his cool as he appraised recent security breaches in his domain. He observed with sadness, that three Ijesa sons had been killed by political thugs within three weeks, wondering how many more would be murdered before the off-cycle governorship poll holds on August 8, 2026.

    Haastrup, a former Deputy Governor of Osun State, said it was abominable for politicians to keep their children abroad and be slaughtering his people like chicken.

    Turning attention to party leaders, the monarch declared, “Ijesas are not chicken! Within three weeks, politicians have killed three Ijesas, all for political power. And we still have another five months to go for this election. If you killed three people within three weeks, how many will you kill by August (5 months’ time)? Why will you turn Nigeria back to the barbaric age of 1960s?”

    The capacity crowd at the Obokungbusi Town Hall, venue of the event, which included the Osun State Governor, Senator Ademola Adeleke, applauded.

    Lowering his gaze, the Owa continued, saying: “Your Excellency and other leaders, we will not allow for another Ijesa to be gunned down by cruel people. We will not allow anybody, because they are top politicians, because of their lust for power, to kill any Ijesa again.”

    Owa Haastrup stressed that major plank of his mandate as the paramount ruler of Ijesaland was the maintenance of peace and stability in the land, as well as the protection of the lives and properties of his people.

    Though he said he would let the referenced ugly event go, he firmly warned: “(if) one more Ijesa (gets killed), I will mobilise Ijesa people. And such person will not enter Ijesaland again. So, whatever your position, where you are in exile, we shall see who will vote for you during the day of election.”

    Again, the audience roared in agreement with their King.

    Owa Haastrup was not done. He appealed to all religious leaders-Christians, Muslim, traditional religionists-to talk to their flock and teach the way of peace and love. He urged them to “be preaching against killing for politics.”

    He then switched to Yoruba language and placed a curse on any politician that would attempt to disrupt the peace of his Kingdom and jeopardise the security of his people in the name of politics.
    “They say where there is no law, there is no offence,” the paramount ruler declared. “Whoever tries it (political killing) again in Ijesaland, by the power of the crowned heads in Ijesaland, by the power of the God that I serve, wherever he may be hiding his children, whether Canada, whether America, whether London, the fire of God will consume them.”

    And the audience shouted a thunderous ‘Amen’.

    Watchers of events in Ijesaland are united in their belief that Owa Haastrup’s anger was justified. In fact, earlier on Easter Sunday, the Palace had issued a statement decrying the spiraling incidents of hooliganism and lawlessness in the Kingdom, warning that the situation, if not nipped in the bud, could threaten the peace, tranquility and stability that Ijesaland is known for.

    In the statement issued by the Chief of Staff to the Owa Obokun, Lady Dupe Ajayi Gbadebo, the palace roundly condemned the alleged involvement of an aspirant to the Owa Obokun stool whose activities, the statement maintained, was capable of triggering unrest.‎

    Lady Ajayi-Gbadebo, in the statement, accused the aspirant of backing two individuals who had been previously stripped of their chieftaincy titles over alleged gross misconduct. The Palace noted that one of the individuals had a controversial past, including allegedly committing criminal activities abroad, while also being divested of his title in Ijesaland for related offences.‎
    ‎

    The palace further alleged that despite ongoing proceedings at the Osun State High Court of Justice, the individual had reportedly broken into a traditional chieftaincy house on two occasions within a short period.‎

    The latest incident, according to the statement, occurred on Easter Monday, April 6, 2026, when the suspect allegedly vandalized the main entrance of the chieftaincy house to gain unauthorized access.

    The Palace also raised concerns about a second individual, who reportedly had past encounters with law enforcement over allegations of transformer theft. The palace alleged that the aspirant maintains close ties with both individuals, a situation it described as troubling.‎
    The palace warned that the actions of the individuals involved could disrupt the peace of Ijesaland if not urgently addressed. It called on relevant law enforcement agencies to intervene promptly to prevent escalation into violence.‎

    ‎The Palace advised whoever has any grievance arising from the emergence of Owa Clement Adesuyi Haastrup as the Owa Obokun of Ijesaland should seek legal redress rather than resorting to self-help.

    The Palace reiterated that the rule of law must prevail, urging all parties to seek legal redress rather than resorting to actions that could undermine the longstanding peace and unity of the Kingdom.

  • Tunji Disu, Oyedele: Revving up the governance engine, By Tunde Rahman

    Tunji Disu, Oyedele: Revving up the governance engine, By Tunde Rahman

    Taiwo Oyedele
    Taiwo Oyedele

    Last week has been hugely significant in Nigeria’s contemporary history. The plaudits arising from the announcement of Executive Order 9, aimed at curbing opacity in the operations of the Nigerian National Petroleum Corporation and instilling transparency and accountability, had barely receded when President Bola Tinubu made two other important decisions in quick succession.

    The President appointed Olatunji Disu, then an Assistant Inspector General of Police, as the new Inspector General of Police. On Monday, March 2, 2026, the Police Council formally ratified Disu’s appointment in line with the constitution. And just one day after the Council ratified Disu’s appointment, President Tinubu also elevated the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr Taiwo Oyedele, to the position of Minister of State for Finance. He replaced Dr Doris Uzoka-Anite, whom President Tinubu deployed to the Ministry of Budget and Economic Planning in the same capacity.

    Both appointments were generally well received by security and public finance stakeholders, indeed by many Nigerians. Disu’s choice is important because it would help reinvigorate the police force in the fight against crime. Oyedele’s appointment is just as crucial because it will further strengthen transparency and accountability in government.
    In addition to being part of the ongoing moves to recalibrate and strengthen the machinery of government, the two appointments will help foster efficient service delivery.

    To surmise that both men are round pegs in round holes is tantamount to an understatement, given their pedigree. Both have distinguished themselves, as evidenced by their record of service over the years.
    The choice of Disu signals a strong commitment to professional policing and operational effectiveness. Disu is an excellent operations officer who has held many critical positions within the police hierarchy. He shone brilliantly as Officer-in-Charge, Special Anti-Robbery Squad in Ondo and Oyo states from 2011 to 2014; Officer-in-Charge, Anti-Kidnapping in Rivers State, 2014- 2015; Assistant Commissioner of Police, Criminal Investigation Department, Rivers State, 2014 -2015; and Commander of the Rapid Response Squad (RRS) in Lagos from 2015 to 2021.

    He had been Commissioner of Police in Rivers State and the Federal Capital Territory, Abuja, at different times. His last two postings before his appointment as IG were as Assistant Inspector General of Police in Charge of the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, and as AIG, Special Protection Unit (SPU), Force Headquarters, Abuja.

    All these were operational positions, and Disu discharged the responsibilities creditably. The roles imbued him with practical insights into modern policing and intelligence-led operations. With three Master’s degrees in Criminology and Security, Public Administration, and Entrepreneurship, Disu is well-equipped for the office.

    So, the President’s charge to the new IG was unequivocal: restore peace and strengthen security nationwide. While decorating Disu, the President said, “I made this decision for you to assume this responsibility. I know your record. I saw the dedication you exhibited while you were in Lagos when I was governor.”

    He also told the new IG to rebuild public confidence in the police’s capacity to do their job in collaboration with other security forces.
    “Lead firmly but fairly, demand professionalism at every level and ensure that the safety of lives and property remains your highest priority. It’s a daunting challenge. I know you can do it. You have my word; you have my full support.”

    By appointing an officer of high calibre, such as Disu, to lead the police force, the President has undoubtedly given greater impetus to the fight against crime. President Tinubu is resolutely committed to ensuring that state police is firmly established in Nigeria, creating a pathway for community policing. Disu’s appointment is a nod in that regard. Most crimes are committed at the local level, where state police can benefit from local intelligence. This is the strength of community policing.

    Contrary to the rather lukewarm posture of the immediate past police boss, Kayode Egbetokun, towards state police (he even publicly opposed the move), Disu is a staunch advocate. Just a few days after he was named IG, he established an eight-member implementation committee for the state police.

    However, unless the National Assembly amended the 1999 Constitution to provide for state police, little can be achieved. The federal parliament must amend the constitution, specifically altering Section 214, which provides for a single police force for the country – the Nigerian Police Force – and put in place a framework for state police. Remarkably, Disu has already demonstrated his commitment to bringing about that necessary change. His initial steps are reassuring indicators of the future in terms of security and other related matters for the force and the nation under Disu’s leadership. The thread between security and economy is unmistakable. A secure environment is an enabler of investments and overall prosperity in the land.

    Like Disu, what recommended Oyedele for the ministerial position is his record of service, integrity and competence, as particularly demonstrated in his handling of the tax reforms. Oyedele was not only passionate about the reforms but also truthful in their defence and lucid in communicating the changes.

    Importantly, he has a solid background in economics and accounting.
    Oyedele brings over two decades of professional experience to the job. This includes 22 years at PwC, where he rose to become Fiscal Policy Partner and Africa Tax Leader. The new Minister of State is also a professor at Babcock University and a visiting scholar at Lagos Business School. So, he brings a rare blend of private-sector expertise and public policy experience to the financial architecture of government.

    Taken together, these appointments underscore a broader governance philosophy that prioritises merit, competence and strategic fit. By placing an experienced crime fighter at the helm of the police and an accomplished fiscal reformer in the finance ministry, President Tinubu is clearly aligning leadership capacity with national priorities.

    But these expertise and reputation put an enormous weight of public expectation on both men. This means they should neither lower their guards nor the standards of excellence and good performance for which they are reputed. They must not lose steam in fulfilling their responsibilities. This is the time to gird their loins further and get energised to do even more. The criminal elements on the prowl in some parts of the country must be totally subdued.

    Also, it is expedient to demonstrate greater prudence and insight in the governance process, particularly in budget implementation and the allocation of financial resources. It’s only through a superlative performance in their new positions that they can justify the confidence reposed in them by President Tinubu and meet the expectations of Nigerians.

    *Rahman is a Senior Assistant on Media & Special Duties to President Tinubu.

  • Tinubu Celebrates Senator Victor Ndoma-Egba at 70

    Tinubu Celebrates Senator Victor Ndoma-Egba at 70

    President Bola Tinubu has congratulated Senator Victor Ndoma-Egba, a Senior Advocate of Nigeria, SAN, on his 70th birthday which came up on Sunday, March 8, 2026.

    In a congratulatory message, President Tinubu describds Ndoma-Egba as a patriot and statesman who distinguished himself in the legal profession and the National Assembly.

    Ndoma-Egba represented Cross River Central Senatorial District in the Senate for three consecutive terms from 2003 to 2015. He also  served as chairman of the Niger Delta Development Commission, NDDC.

    A statement issued by the Special Adviser on Information and Strategy, Bayo Onanuga, saidtThe President extoled the virtues of the Senate Leader of the 7th National Assembly for his outstanding interventions during critical moments, such as when the country was in the throes of a leadership crisis. The Senate rose to the occasion.

    President Tinubu remarks: “I rejoice with family, friends and associates of one of the finest legal luminaries and statesmen in the country on this important milestone of turning 70.

    “Senator Ndoma-Egba has served the country well in many capacities. He has been a stabilising force in public service and politics. It is on record that he remains the first and only lawyer to date to earn the prestigious title of Senior Advocate of Nigeria while in the Senate.

    “I congratulate Ndoma-Egba on his 70th birthday and wish him more years and good health as he continues to serve Nigeria and humanity.”

     

  • Resolution of OPL 245 Dispute Repositions Nigeria’s economy-Says Attorney General, Lateef Fagbemi

    Resolution of OPL 245 Dispute Repositions Nigeria’s economy-Says Attorney General, Lateef Fagbemi

    L-R: Chief Executive Eni, Claudio Descalzi, Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi and Minister of State for Petroleum, Heineken Lokpobiri during the signing of agreement on the resolution of the dispute over OPL 245 in Abuja
    L-R: Chief Executive Eni, Claudio Descalzi, Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi and Minister of State for Petroleum, Heineken Lokpobiri during the signing of agreement on the resolution of the dispute over OPL 245 in Abuja

    The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said that resolving the longstanding dispute over OPL 245 will reposition the economy and strengthen the country’s fiscal muscle.

    He also praised President Bola Tinubu’s “visionary leadership”, which, he said, enabled the breakthrough.

    A press statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the Attorney-General and Minister of Justice, made the declaration after the signing of the legal agreement that brought the dispute to an end in Abuja.

    The Justice Minister described the development as a milestone in repositioning Nigeria’s economic landscape, the release further disclosed.

    “The agreement marks a turning point for Nigeria’s oil and gas sector after more than two decades of legal battles and international arbitration,” Fagbemi was quoted as saying.

    Recall that the federal government reached the settlement with ENI and Nigerian Agip Exploration Limited (NAEL), effectively ending the protracted dispute over OPL 245.

    Fagbemi emphasised that resolving the dispute over OPL 245 will recalibrate the national economy and bolster the federal government’s fiscal position.

    According to him, early in the administration, President Tinubu directed that all disputes over the oil block be resolved amicably in the best interests of the Nigerian people.

    “The clear vision and deep commitment of President Tinubu provided the political will required to bring closure to this protracted dispute. The agreement demonstrates Nigeria’s commitment to transparency, accountability, and the rule of law.”

    The Attorney-General explained that the settlement, which will culminate in a Consent Arbitral Award, not only resolves a complex international dispute but also restores Nigeria’s credibility as a responsible partner in global business.

    He further highlighted several strategic economic benefits expected from the resolution, including the removal of legal and fiscal uncertainties that previously hindered the development of the oil block.

    “This development will pave the way for large-scale investments, stimulate job creation, and reinforce Nigeria’s position as a leading energy producer in Africa,” he said.

    Fagbemi also noted that projected revenues from the asset could now be included in the country’s medium-term fiscal framework, thereby supporting budget stability, long-term economic planning, and debt sustainability.

    He added that resolving the dispute through negotiated settlement rather than prolonged arbitration underscores Nigeria’s commitment to alternative dispute resolution and enhances the country’s credibility in international commercial and arbitration circles.

    “This settlement sends a clear signal to the global community that Nigeria is open for business and committed to fairness and respect for contractual obligations,” he said.

    The Attorney-General also commended key institutions and stakeholders that contributed to the successful resolution, including the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, Nigerian National Petroleum Company Limited, the Economic and Financial Crimes Commission, and international partners such as Eni and Shell.

    He emphasised that the settlement represents the triumph of dialogue over conflict and national interest over narrow considerations.

    “With this agreement, Nigeria can now move forward with confidence, ensuring that the development of OPL 245 becomes a source of prosperity for the nation and future generations,” Fagbemi stated.

     

  • Finally, Ambassadors Get Postings

    Finally, Ambassadors Get Postings

    Over two months after their clearance by the senate, President Bola Ahmed Tinubu has finally approved the postings of 31 career and 34 non-career ambassadors to various countries and the United Nations.

    The Senate confirmed the ambassadors-designate last December.

    Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a press statement he issued in Abuja, Friday.

    Below are the postings:

    POSTINGS OF NON-CAREER AMBASSADORS / HIGH COMMISSIONERS

    S/N      NAME                         MISSION APPROVED

    1. SENATOR GRACE BENT: LOME-TOGO
    2. SEN. ITA ENANG: SOUTH AFRICA
    3. IKPEAZU VICTOR: SPAIN
    4. NKECHI LINDA UFOCHUKWU: TEL-AVIV, ISRAEL
    5. MAHMUD YAKUBU: QATAR
    6. PAUL OGA ADIKWU: THE VATICAN CITY HOLY SEE
    7. VICE ADMIRAL IBOK-ETE EKWE IBAS: THE PHILIPPINES
    8. MR. RENO OMOKRI: MEXICO CITY, MEXICO
    9. HON. (ENGR.) ABASI BRAIMAH (FMHR): BUDAPEST, HUNGARY
    10. MRS. ERELU ANGELA ADEBAYO: PORTUGAL
    11. BARR. OLUMILUA OLUWAYIMIKA AYOTUNWA: TOKYO, JAPAN
    12. RT. HON. UGWUANYI IFEANYI LAWRENCE: ATHENS, GREECE
    13. BARR. CHIOMA PRISCILLA OHAKIM: WARSAW, POLAND
    14. AMINU DALHATU: UNITED KINGDOM, UK
    15. LT. GEN  ABDULRAHMAN BELLO DAMBAZAU: BEIJING, CHINA
    16. HON. TASIU MUSA MAIGARI: GAMBIA
    17. OLUFEMI PEDRO: AUSTRALIA
    18. BARR. MUHAMMED UBANDOMA ALIYU: ARGENTINA
    19. LATEEF KAYODE ARE: USA
    20. AMB. JOSEPH SOLA IJI: RUSSIA
    21. SEN. JIMOH IBRAHIM: UN PERMANENT REPRESENTATIVE
    22. FEMI FANI KAYODE: GERMANY
    23. PROF. ISAAK FOLORUNSO ADEWOLE: OTTAWA, CANADA
    24. AJIMOBI FATIMA FLORENCE (F): AUSTRIA
    25. MRS. LOLA AKANDE (F): SWEDEN
    26. AYODELE OKE:             FRANCE
    27. YAKUBU N. GAMBO: SAUDI ARABIA
    28. SENATOR PROF. NORA LADI DADUUT: SEOUL, SOUTH KOREA
    29. BARR. ONUEZE CHUKWUJIKA JOE OKOCHA SAN: DUBLIN
    30. DR. KULU HARUNA ABUBAKAR: TUNIS, TUNISIA
    31. RT. HON. JERRY SAMUEL MANWE: PORT OF SPAIN, T&T

    POSTINGS OF CAREER AMBASSADORS / HIGH COMMISSIONERS LIST

    S/N   NAME                                   MISSION APPROVED

    1. AMB. NWABIOLA EZENWA CHUKWUMEKA: COTE D’IV/OIRE
    2. BESTO MAIMUNA IBRAHIM: NIAMEY-NIGER
    3. MONICA OKWUCHUKWU ENEBECHI: SAO TOME, STP
    4. AMB. MOHAMMED MAHMUD LELE: ALGIERS-ALGERIA
    5. ENDONI SYNDOPH PAEBI: OUAGADOUGOU-BURKINA FASO
    6. AHMED MOHAMMED MONGUNO: CAIRO EGYPT
    7. AMB.JANE ADAMS (NEE OKON) MICHAEL (F): KINGSTON-JAMAICA
    8. AMB. CLARK-OMERU ALEXANDRA (F): LUSAKA-ZAMBIA
    9. CHIMA GEOGGREY LIOMA DAVID: BAMAKO-MALI
    10. AMB. ODUMAH YVONNE EHINOSEN: MALABO –E/GUINEA
    11. AMB WASA SEGUN IGE: BEIRUT, LEBANON
    12. RUBEN ABIMBOLA SAMUEL (F): ROME, ITALY
    13. AMB.ONAGA OGECHUKWU KINGSLEY: MAPUTO, MOZAMBIQUE
    14. AMB.MAGAJI UMAR: KINSASHA, DR CONGO
    15. AMB.MUHAMMAD SAIDU DAHIRU: NEW DELHI-INDIA
    16. AMB. ABDUSSALAM HABU ZAYYAD: DAKAR-SENEGAL
    17. AMB SHEHU ILU BARDE: ACCRA GHANA
    18. AMB.AMINU NASIR: ETHIOPIA
    19. ABUBAKAR MUSA MUSA: N’DJAMENA, CHAD
    20. AMB. HAIDARA MOHAMMED IDRIS: THE HAGUE-NETHERLANDS
    21. AMB.BAKO ADAMU UMAR: RABAT-MOROCCO
    22. AMB. SULU GAMBARI OLATUNJI AHMED: MALAYSIA
    23. AMB.ROMATA MOHAMMED OMOBOLANLE (F): TANZANIA
    24. AMB. SHAGA JOHN SHAMAH: BOTSWANA
    25. SALAU, HAMZA MOHAMMED: TEHRAN, IRAN
    26. AMB.IBRAHIM DANLAMI: KENYA
    27. IBRAHIM ADEOLA MOPELOLA (F): COTONOU-BENIN
    28. AMB.AYENI ADEBAYO EMMANUEL: BRUSSELS, BELGIUM
    29. AMB.AKANDE WAHAB ADEKOLA: BERNE-SWITZERLAND
    30. AMB. AREWA (NEE ADEDOKUN) ESTHER (F): WINDHOEK-NAMIBIA
    31. AMB.GERGADI JOSEPH JOHN: LIBREVILLE-GABON
    32. AMB. LUTHER OGBOMODE AYO-KALATA (F): SIERRA LEONE
    33. DANLADI YAKUBU NYAKU : KHARTOUM-SUDAN
    34. BELLO DOGON-DAJI HALIRU: BANGKOK, THAILAND

    The Ministry of Foreign Affairs has already received agrément from the United Kingdom for the High Commissioner-designate, Ambassador Aminu Dalhatu. Similarly, France has sent the agrément for Ambassador Ayo Oke.

    The Ministry has also conveyed the nominations of the other 62 designated envoys to all the countries concerned, including a request for their agréments in line with standard diplomatic practice.

    President Tinubu has directed that the Ministry of Foreign Affairs should immediately commence the induction programme for the ambassadors-designate and High Commissioners.

     

  • Tinubu Nominates Oyedele as Minister of State for Finance

    Tinubu Nominates Oyedele as Minister of State for Finance

    Taiwo Oyedele and President Tinubu
    Taiwo Oyedele and President Tinubu

    President Bola Ahmed Tinubu has nominated Mr Taiwo Oyedele as the minister of state for finance, replacing Dr Doris Uzoka-Anite.

    Uzoka-Anite will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

    This was revealed in a press statement issued on Tuesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

    In the statement, Onanuga further disclosed that the President, on Tuesday, conveyed Oyedele’s nomination to the Senate for confirmation via a letter to the Senate President, Godswill Akpabio, .

    Until President Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

    Oyedele, 50, is an economist, accountant and public policy expert.

    He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.

    He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

    Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

    Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

     

  • Tunji Disu to be Sworn in Wednesday as 23rd IGP

    Tunji Disu to be Sworn in Wednesday as 23rd IGP

    President Bola Tinubu will, on Wednesday, at the Council Chamber of the Aso Rock Presidential Villa, administer the oath of office and allegiance to Olatunji Rilwan Disu as the substantive 23rd Inspector-General of Police, IGP.

    This is sequel to the unanimous ratification of his appointment as the IGP by the Nigeria Police Council on Monday.

    A release by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the ceremony will take place during the Federal Executive Council meeting, scheduled for the same day.

    Onanuga further revealed that the meeting of the Nigeria Police Council, which took place at the State House, was presided over by President Bola Ahmed Tinubu and had in attendance Vice President Kashim Shettima, state governors and the Chairman of the Police Service Commission, retired DIG Hashimu Argungu, in accordance with the constitution.

    Others in attendance were the Secretary to the Government of the Federation, Senator George Akume; the National Security Adviser, Nuhu Ribadu; the Chief of Staff, Femi Gbajabiamila; the Minister of Police Affairs, Senator Ibrahim Gaidam; the FCT Minister, Nyesom Wike; and the head of service, Mrs Esther Didi Walson-Jack.

    The President appointed Disu as the new police chief, following the resignation of the former Inspector-General of Police, Kayode Egbetokun.

    Governor of Lagos State, Babajide Sanwo-Olu, who spoke glowingly about the Acting Inspector-General of Police, commended Disu for his exemplary services as a policeman, especially when he served as the Commander of the Rapid Response Squad in Lagos State between 2015 and 2021, where his tenure earned him and the RRS recognition for excellence in crime control.

    Governor of Nasarawa State, Abdullahi Sule, commended the President’s appointment of Disu, noting that it was based on his excellent career record.

    Minister of the Federal Capital Territory and former Governor of Rivers State, Nyesom Wike, also lauded Disu for his professionalism.

    Disu served in Wike’s home state of Rivers as Assistant Commissioner, Criminal Investigation Department, and Officer-in-charge, anti-kidnapping unit, between 2014 and 2015. He later served as Commissioner of Police in the FCT Command when Wike became the minister.

    Wike commended him for his efficiency as a crime fighter and for ensuring the command’s strategic impact in addressing security concerns within the territory.

    Governor Peter Mbah of Enugu State seconded the motion endorsing Disu’s appointment.

    Disu was born on April 13, 1966, in Lagos State and joined the Nigeria Police Force on May 18, 1992, as a Cadet Assistant Superintendent.

    He rose through the ranks with multiple qualifications in public administration, forensic investigation, criminology, security, legal psychology, and entrepreneurship-credentials that reflect his commitment to knowledge-driven, modern policing.

    The Acting Inspector-General has held critical operational, investigative, and strategic command positions nationwide. His last position was as Assistant Inspector-General of Police in charge of the Special Protection Unit and the Force CID Annex, Lagos.

     

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