Tag: Economy

BREAKING: Supreme Court Throws Out Suit by States Against FGBREAKING: Supreme Court Throws Out Suit by States Against FG

May 23, 2025 (updated May 23, 2025) Published by

The Supreme Court has dismissed a lawsuit filed against the Federal Government over the management and distribution of recovered looted funds.

The suit was filed by the 36 state governments and the Nigeria Governors’ Forum (NGF).

Delivering judgment in the high-profile constitutional dispute, a seven-member panel of the apex court held unanimously that the case was wrongly brought before it. In the lead judgment prepared by Justice Chidiebere Uwa and read by Justice Mohammed Idris, the court ruled that the matter fell under the exclusive jurisdiction of the Federal High Court.

The suit, marked SC/CV/395/2021, sought to challenge the Federal Government’s alleged failure to remit approximately N1.8 trillion in cash and other assets recovered between 2015 and 2021 into the Federation Account, as constitutionally required.

According to the plaintiffs, “between 2015 and 2021 when the suit was filed, the FG has secured both international and municipal forfeiture, recovery and repatriation of ‘stolen assets’ in the sum of N1,836,906,543,658.73, about 167 properties, 450 cars, 300 trucks and cargoes, and 20,000,000 barrels of crude oil worth over N450 million,” which they alleged were diverted into unauthorised accounts.

They accused the Federal Government of bypassing the Federation Account by channelling the funds into the Consolidated Revenue Account (CRA) and other accounts not recognised by the Nigerian Constitution

The states maintained that “it is unconstitutional to remit or divert revenue payable into the Federation Account to the Consolidated Revenue Account of the Federal Government or any other account whatsoever, or to apply the said revenue to any other purpose.”

Atiku Confirms ADC as Opposition Coalition Platform as Fresh Details of 2027 Deal Emerge

May 22, 2025 (updated May 22, 2025) Published by

Former Vice President Atiku Abubakar has confirmed the adoption of the African Democratic Congress (ADC) as the official political platform for the new opposition coalition, as fresh details surrounding the 2027 presidential deal emerge.

The development followed a meeting held in Abuja on Tuesday night, where key opposition figures resolved to rally behind the ADC as their united front against President Bola Ahmed Tinubu in the next general election.

The ADC was chosen after weeks of intense consultations among coalition leaders—including Atiku Abubakar, Labour Party’s Peter Obi, and former Kaduna State Governor Nasir El-Rufai.

POLITICS NIGERIA reported that El-Rufai confirmed the meeting on Wednesday while speaking at an event in Kaduna.

Yesterday at 8 p.m., there was a very important meeting of the coalition we are putting together to ensure that President Tinubu returns to Lagos in 2027. But we will keep the minister (referring to Bosun Tijjani, the minister of communications and digital economy) because he is doing well,” he said.

Atiku through his spokesperson, Paul Ibe, has also confirmed the decision.

Yes, ADC has been agreed as the party. The coalition leaders have set up relevant committees and directed them to resolve grey areas in the arrangement and prepare for a public unveiling,” he said.

Clarifying earlier speculation about the Social Democratic Party (SDP), Ibe said the SDP was only a temporary option. “The SDP was never really a platform under serious consideration. It was a strategic move to house the CPC component of the APC ahead of a formal transition. You could call it a container to absorb CPC elements before moving to the final platform.”

But they’ve moved beyond the SDP now. They are now in the ADC,” he added.

Explaining why the ADC was chosen, Ibe said: “The party met all the coalition’s requirements. The coalition leaders were clear about what they were looking for in a platform, and ADC must have satisfied those expectations.”

The coalition is now official, but there is still work for the committees to do, including finalising the party structure and leadership. The public unveiling will simply formalise what was achieved during Tuesday night’s meeting of all major stakeholders.”

Although a flagbearer for the 2027 race has yet to be announced, sources close to the talks revealed that discussions on candidacy are expected to begin now that the platform has been finalised.

Everyone will be allowed to contest for the presidency,” one source said, noting there is an unspoken understanding that all aspirants would rally behind the eventual nominee.

Tinubu’s visit to Rome an insult to Christianity – Ex-SGF blasts presidency

May 22, 2025 (updated May 22, 2025) Published by

The former Secretary to the Government of the Federation, Babachir Lawal has again raised concerns about the Muslim-Muslim ticket of President Bola Tinubu and Kashim Shettima.

Speaking on Arise Television on Wednesday, May 21, Lawal said that the President’s visit to the Vatican City for Pope Leo’s inauguration is an insult to Christianity

He, however, stated that the president’s visit is not a big deal but an arrangement that was made possible with the help of lobbyists.

The former SGF noted that with a Christian vice president, the arrangement would have been different for the benefit of Nigerians.

You know that going to see the Pope is just a matter of how well you can lobby, or how many friends you have there in the Vatican that can make it happen for you. So it is not as if it is a major achievement to visit the Pope on his inauguration, it can be arranged in advance by lobbyists with the correct inducement.

“So Bola Tinubu going to visit the Pope is a non-issue. In fact, it reinforces my earlier belief that the Muslim-Muslim ticket is an insult to Christianity. If We had a Christian as a Vice President, it is all expected that he would be the one to represent the government lobb

“But now in Nigeria, we have the so-called Muslim visiting the Pope and leading a delegation of eminent Catholics to the Vatican. So it proves the fact that a Muslim-Muslim ticket is an unfair arrangement,” Lawal stated.

From inception, Lawal has been among Nigerian leaders who spoke against the Muslim-Muslim ticket championed by the All Progressives Congress (APC) prior to the 2023 election.

Lawal had argued that having Tinubu and Shettima on the same ticket would be unfair to Nigeria’s Christian population.

JUST IN: Benue APC lawmakers endorse Tinubu for second term

May 21, 2025 (updated May 21, 2025) Published by

Members of the Benue state All Progressives Congress (APC) caucus in the National Assembly have endorsed President Bola Tinubu for a second term in office.

They also urged Hyacinth Alia, governor of Benue, to collaborate with the federal government in addressing the rising insecurity in the state.

The endorsement was announced on Wednesday during a press briefing at the National Assembly.

The caucus comprises two senators and 12 members of the house of representatives.

The senators are Titus Zam and Emmanuel Udende.

The house of representatives members are Dickson Tarkighir, David Ogewu, Sesoo Ikpagher, Terseer Ugbor and Asema Achado.

Others include Philip Agbese, Sekav Iyoryom, Regina Akume, Blessing Onuh and Solomon Wombo.

Speaking on behalf of the group, one of the lawmakers said: “We believe in the leadership of President Bola Ahmed Tinubu and we stand firmly behind his second term bid.”

We, however, call on Governor Hyacinth Alia to prioritise collaboration with the federal government in tackling the persistent insecurity in Benue state.”

Protesters Demands Justice as Stary bullet kills a WAEC Candidate in Ibadan

May 20, 2025 (updated May 20, 2025) Published by

A tragic incident occurred on Tuesday in the Gbagi Market area of Egbeda Local Government, Oyo State, when a stray bullet allegedly fired by a police officer struck and killed a student on his way to sit for the West African Senior School Certificate Examination (WASSCE).

The lifeless body of a secondary school boy, Taiwo, who was writing the 2025 West African Examinations Council (WAEC) exams, and was killed by a stray bullet, was on Tuesday brought to the Oyo State Secretariat, Agodi, Ibadan.

According to eyewitnesses, the student was riding on a motorcycle with his father and twin brother when the bullet hit him. The officer was reportedly in pursuit of a fleeing vehicle when he opened fire, and one of the bullets struck the student.

He was rushed to a nearby hospital, Welfare Hospital, but was later referred to the University College Hospital (UCH), where he was confirmed dead.

Angry protesters, led by the father of the deceased, were seen demanding immediate justice for the boy, who was allegedly shot by a police officer while attempting to apprehend a traffic offender.

Addressing the protesters who stormed the state secretariat in large numbers, the Executive Assistant to Governor Seyi Makinde on Security, CP Sunday Odukoya, assured the father of the deceased that the state government would ensure justice is served in the case.

Oyo State Monarchs Kick, Reject Move To Make Alaafin Permanent Chairman Of Traditional Council

May 20, 2025 (updated May 20, 2025) Published by

In a joint statement issued in Ibadan on Monday, the leaders described the move as a distortion of tradition and a threat to the unity of royal institutions in the state.

Traditional rulers and influential stakeholders from Ibadanland and Ogbomosoland have firmly rejected a legislative proposal by the Oyo State House of Assembly that seeks to make the Alaafin of Oyo the permanent chairman of the state’s Council of Obas and Chiefs.

The statement was endorsed by Mogajis, Baales, monarchs, the Central Council of Ibadan Indigenes (CCII), the Ibadan Compounds Peace Initiative (ICPI), prominent natives of Ibadanland, and representatives of the Soun Ruling Houses in Ogbomoso.

The proposed amendment to the chieftaincy law, which passed second reading in the House last Thursday, would install the Alaafin as the permanent head of the council.

In the event of his absence, the Olubadan of Ibadanland would chair the council, followed by the Soun of Ogbomoso if both are unavailable.

But opponents argue the law undermines long-standing tradition and fairness.

The chairmanship of the council has always been rotational and should remain so to reflect equity among all royal stools in the state,” the statement read.

President of the Ibadan Mogajis, Chief Asimiyu Ariori, and ICPI Coordinator, Nurudeen Akinade, warned that the proposed amendment risks inflaming tensions, urging lawmakers to preserve the rotational leadership model as a symbol of inclusion and mutual respect.

They stressed their opposition was not personal, noting that the late Alaafin, Oba Lamidi Adeyemi III, earned their admiration through his respectful engagement with other traditional institutions.

We respected and honoured Oba Adeyemi’s age and wisdom. He spent over 50 years on the throne without undermining Ibadan people,” they said.

The current Alaafin should tread softly.”

Tinubu approves implementation of Nigeria First Policy, ban on foreign goods

May 19, 2025 (updated May 19, 2025) Published by

President Bola Ahmed Tinubu has approved the implementation of the Nigeria First Policy, which proscribed the importation of foreign goods.

According to NTA, this was disclosed in a statement on Wednesday.

This means the immediate implementation of revised procurement thresholds for Ministries, Departments, and Agencies, which prioritize Nigeria First.

Tinubu said that the approval is based on the recommendation of the Director General of BPP, Adebowale Adedokun, to align with Mr. President’s Renewed Hope Agenda.

The details of the implementation guidelines will be provided by the DG, BPP, Dr. Adebowale A. Adedokun, FCIPS, CMILT, ACFE,” a statement from the presidency stated.

Recall that on May 3rd, 2025, Tinubu ordered a ban on the importation of foreign goods, especially those that can be produced locally in Nigeria.

BUA Chairman praises Dangote for cement price freeze initiatives, Calls him for driving force of ideas

May 17, 2025 (updated May 17, 2025) Published by

BUA Group chairman, Abdul Samad Rabiu, has confirmed that a landmark agreement to keep cement prices steady for government contractors was initiated by Aliko Dangote. Rabiu disclosed this during a recent Channels TV interview, revealing that the pact is aimed at supporting President Bola Tinubu’s Renewed Hope infrastructure programme.

According to him, Dangote approached him with the proposal, and he immediately agreed to collaborate in the national interest.

He explained that the decision would shield contractors working on Renewed Hope projects from future cement price hikes

What this means is that any company handling these specific government projects will purchase cement at a fixed price, with no increase for the foreseeable future,” Rabiu said. He emphasized that this move is a significant show of support for the federal government’s infrastructure vision.

Rabiu was full of praise for Dangote, describing him as the driving force behind the idea. “Aliko Dangote deserves credit for bringing up this initiative. I agreed right away, and we’ll be sending official letters to the Ministry of Works next week to formalize the arrangement,” he added.

The BUA chairman also commended Engineer Dave Umahi, Nigeria’s Minister of Works, for his decision to prioritize concrete roads. He highlighted that concrete roads are more durable and economical in the long run, which aligns with the current strategy of major cement producers.

To ensure better coordination across the industry, Rabiu revealed plans to reorganize the Cement Manufacturers Association of Nigeria.

He said the board will be refreshed to better support national infrastructure efforts and maintain effective industry wide collaboration.He said the board will be refreshed to better support national infrastructure efforts and maintain effective industry wide collaboration.

Addressing concerns over cement prices in the market, Rabiu defended the current rates, stating that despite public sentiment, cement in Nigeria remains competitively priced. “If you look across Africa, cement goes for at least $120 per ton, so what we’re offering is still affordable considering our production costs,” he clarified.

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It Is Obvious PDP Will Not Make Headway In 2027 Election’ – Gov Oborevwori

May 17, 2025 (updated May 17, 2025) Published by

Delta State Governor, Sheriff Oborevwori, has asserted that the Peoples Democratic Party (PDP) will not make headways in the forthcoming 2027 election, hence the decision of his administration to form a political alliance with the All Progressives Congress (APC). former PDP’s presidential running mate, Ifeanyi Okowa and some chieftains of the party in Delta State recently defected to the APC.

Speaking through the state’s Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, at a press briefing in Asaba, Oborevwori said his administration aims to move the state forward.

Oborevwori stated that his defection was not to kill the PDP.

He said.“Our desire is not to kill PDP but to move Delta forward, and so we changed our driving pattern.

It was obvious that PDP won’t make headway in the forthcoming 2027 election, and so [there was] need to move to APC.”

Speaking on the performance of his administration, Oborevwori said he has provided roads in various communities.

He said, “In almost two years, we can see very bold and remarkable achievements by Governor Oborevwori and his team.

He also dismissed concerns raised by critics about the government’s capacity to deliver results.

We have provided roads in various communities, reducing travel time from Asaba to Ughelli to just one hour and forty-five minutes.

Detained NANS President Drags Seyi Tinubu, DSS To Court, Demands ₦38.3 Billion

May 16, 2025 (updated May 16, 2025) Published by

The President of the National Association of Nigerian Students (NANS), Comrade Atiku Abubakar Isah, has filed a lawsuit at the Federal High Court in Abuja, seeking enforcement of his fundamental human rights and demanding over ₦38 billion in damages.

Filed on May 14, 2025, and marked Suit No: FHC/ABJ/CS/966/2025, the suit lists the Director-General of the Department of State Services (DSS), the Director of the Nigerian Television Authority (NTA), and Mr. Seyi Tinubu—son of President Bola Tinubu—as the 1st to 3rd respondents, respectively.

Isah, through his legal counsel Ugwueze I. Oduegbu and R.O. Ifebhor of Ajunwa & Co., is seeking a series of declarations and orders from the court, including:

A declaration that his alleged abduction, unlawful detention for over 15 days, and continued incarceration without charge constitute a gross violation of his rights to freedom of movement under Chapter IV of the 1999 Constitution and the African Charter on Human and Peoples’ Rights.

A declaration that the alleged torture, brutal beating, stabbing, and psychological trauma inflicted on him amount to inhuman and degrading treatment under Section 34 of the Constitution and Articles 5 and 16 of the African Charter.

An order for his immediate and unconditional release from DSS custody.

An injunction restraining the respondents from further acts of kidnapping, torture, detention, and threats to his life.

Monetary compensation including:

₦32.87 billion in general damages

₦5.5 billion in exemplary damages

20% compounded interest on the judgment sum until full payment or deposit into an interest-yielding court account.

Background of the Case

Isah’s suit stems from a violent leadership tussle within NANS. During his inauguration at the Wells Carlton Hotel in Abuja, he was allegedly attacked by a rival faction of the student body said to have the backing of political elites, including Seyi Tinubu.

Following the attack, Isah was receiving medical treatment at a DSS clinic when he was reportedly taken away by operatives of the secret police. Since then, his whereabouts remain unknown.

Family Alleges Cover-Up and Health Concerns

In an interview with SaharaReporters, a member of Isah’s family raised alarm over his disappearance and deteriorating health, describing the DSS’s actions as “bandit-like.”

Why are the DSS operating like bandits? They whisked away a man who was nearly killed, while those responsible for the attack are walking free. Since they took him, we’ve had no word,” the relative lamented.

The family added that Isah’s wife and daughter are traumatized by his sudden disappearance and are demanding answers.

The matter is expected to come up for hearing on a date to be communicated by the court.

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