Author: Our Correspondent

  • Corrupt Politicians Hiding Stolen Funds in Virtual Assets- EFCC

    Corrupt Politicians Hiding Stolen Funds in Virtual Assets- EFCC

    By Ogenyi Ogenyi, Uyo

    The Economic and Financial Crimes Commission (EFCC) has raised alarm over the increasing use of virtual assets by corrupt politicians and other fraudulent persons to conceal stolen funds and unexplained wealth.

    The Commission however said it remained proactive and ahead technologically in the fight against such crimes with thr enormous proofs of operational successes on the issue especially the breakthrough in investigation and prosecution
    of the infamous CBEX scam.

    Executive Chaitman of EFCC Mr Ola Olukoyede made the revelation during a public lecture to mark the African Union Anti-Corruption Day. yesterday in Uyo with the event focusing on understanding virtual assets and investment fraud.

    Olukoyede Who was represented by the Uyo Zonal Director of the EFCC, Assistant Commander of EFCC ACE I Johnson Oshodi regretted that illicit financial flows remained a monstrous challenge to African development, with annual losses running into billions of dollars with the flows coming from diverse criminal activities with illicit investment in virtual assets and investment scams another rising criminal engagement that has the potential to outpace, even money laundering, on the continent.

    ” It is important to clearly state that virtual assets are not fundamentally
    criminal. It is when they are wrongfully or fraudulently used that they become criminal. Technology is moving at a supersonic speed around the world.

    “The advent of virtual assets is a response to one of the qualities of money as a store of value. However, as with every progressive
    innovation, fraudsters usually evolve ways of perverting their genuine purposes.

    “Virtual assets fraud is on the rise. Our findings showed that fraudulent
    politicians are already perfecting schemes and hiding their loot in
    cryptocurrencies to beat the investigative dragnets of anti- corruption agencies.

    “Stolen funds and unexplained wealth are being warehoused in
    wallets and payments for services are being done through this window. Investment schemes are also being facilitated through it.” The chairman explained.

    Investment fraud, like virtual assets Olukoyede said has also brgan to spread like wildfire across Africa with fraudsters exploiting vulnerabilities of desperate investors to defraud them through various dishonest schemes.

    “The lessons derivable from the CBEX situation are very clear: the
    investing public do inadvertently aid fraudulent practices through lack due diligence on schemes advertised to them. Another lesson is that investors hardly send suspicious transaction reports to the EFCC until they are defrauded. We must understand that no investment scam can succeed without the negligence of investors.” He said.

    The Commission, the chairman said would continue to work to engage every stakeholder in its preventive and investigative activities adding that virtual assets and investment fraud like other fraudulent activities remained preventable with the escape route being adequate knowledge and understanding of issues involved.

    The keynote lecture at the event was delivered by ACE II Emeka Ukpai while an interactive session afforded participants the
    opportunity to rub minds with experts.

    ‘The window of ignorance which fraudulent investment operators are opening to defraud i bennocent members of the public should be closed.” He concluded.

  • 10th NASS Constitution Review: Banana peels to watch 

    10th NASS Constitution Review: Banana peels to watch 

    By Patrick Wemambu

    From the nooks and crannies of Nigeria, eminent citizens gathered in the designated geopolitical zones of the nation for public hearings on the proposed review of the 1999 Constitution. Several organizations, including youths, students and women’s groups, made presentations at the various public hearings by the Senate 4th – 5th July.

    Whereas Enugu served as S’East host, Ikot Ekpene was centre for the S’South. Jos doubled as venue for the N’Central with Maiduguri anchoring activities for the N’East. Regrettably, the N’West zonal hearing with Kano State as host had to be postponed to honour the late business tycoon and elder statesman, Alhaji Aminu Dantata. Latest news, however, indicates it has been rescheduled to hold 18 – 19 July. Same venue.

    Laudable as the initiative appears, the zonal public hearings have elicited grave concerns from a few quarters. For instance, the Nigeria Labour Congress (NLC) cautioned the parliamentarians against removal of labour provisions from the Exclusive List.

    Urging the National Assembly not to heed calls to remove labour provisions from the Exclusive Legislative List to the Concurrent List in the ongoing review – the NLC warned of the possible dire consequences of such action.

    Lagos State NLC Chairman, Mrs. Funmi Sessi, made the call last Saturday while making the union’s presentation at the Senate’s South-West Zonal Public Hearing on the Review of the 1999 Constitution in Lagos.

    Making a case for electoral reforms, the labour leader called for a holistic and genuine implementation of the late Justice Uwais-led Electoral Reform Committee to address challenges of recent elections.

    Commenting further, Sessi recommended establishment of what she called the Electoral Offences Commission to serve as a clear warning to anti-progressive and anti-democratic forces in the political space.

    The labour leader also advocated unbundling INEC into specialized agencies to deal with the recurring pre-election and post-election challenges.

    Sessi said the rejig of the electoral system could be achieved through institutionalization of what she called proportional representation (PR) and incremental substitution of the First-Past-the-Post (FPTP) electoral system.

    She also called for full adoption of electronic and diaspora voting. On socio-economic, cultural, and political issues, she said that NLC believes that it is important for Chapter 2 of the 1999 Constitution to be made justiciable.

    Reiterating the need to address issues concerning the federal structure and power devolution, pensions, local government and judicial autonomy, amongst others – Sessi also demanded human rights and access to justice, repositioning of police, and state creation.

    Casting aspersions on the current constitutional framework in Nigeria which he described as warped, a member of the 1999 Constitution Review Committee and senator representing Anambra Central Senatorial District, Senator Victor Umeh, has attributed the persistent marginalization of the S’ East geopolitical zone to military-era decisions embedded in Nigeria’s current constitutional framework.

    Umeh made the remarks during an engagement with the Ebonyi State Governor, Francis Nwifuru, where he stressed the urgent need for constitutional amendments.

    He called for the creation of more states in the Southeast region, pointing out that the number of states and local governments is a critical factor in federal resource distribution, civil service recruitment, and ministerial appointments.

    He further lamented the difficulty in amending the constitution to address these imbalances, describing the process as ‘herculean,’ but expressed hope that the rest of the country would support a fair and equitable solution.

    According to the senator, the Southeast remains the most under-represented zone in Nigeria with only five states and 95 local government areas (LGAs) out of a national total of 774.

    Advocating the decentralization of the Nigerian Police Force, Umeh reiterated his support for the creation of state police as a practical response to worsening insecurity across the country. Despite skepticism over the effectiveness of piecemeal amendments, the lawmaker maintained that efforts must continue to push for constitutional justice.

    At the N’ East public hearing, creation of new states and local government areas (LGAs) topped proposals from agitators in the region.

    Speaking at the opening of the two-day zonal public hearing in Maiduguri last Friday, Sen. Jibrin Barau, the Deputy Senate President, who is the Chairman of the Senate Committee on Constitution Review (CRC), expressed satisfaction with the turn-out of people at the hearing.

    Barau, who was represented by Sen. Tahir Monguno, the Senate Chief Whip, assured the people of the region of Senate’s commitment to protect the interest of every individual and group seeking for any amendment without bias.

    Declaring the hearing open, Gov. Babagana Zulum of Borno, who was represented by his Deputy, Alhaji Umar Kadafur, commended the National Assembly’s leadership for creating the opportunity for voiceless Nigerians to be heard.

    Similarly, the speakers of the state assemblies in the six states of the North-East represented by the Speaker of Borno Assembly, Abdulkarim Lawan, canvassed for their autonomy to ensure effective legislative procedures.

    In his presentation, Shehu of Borno, Dr Abubakar El-kanemi, emphasized the need for a defined role for traditional institutions in the constitutional review.

    On his part, the erstwhile Secretary to the Government of the Federation, Alhaji Yayale Ahmed, who led the movement agitating for the creation of Katagum State out of Bauchi State, canvassed for electoral reforms.

    As a way of rounding off, it is worth noting that the National Assembly has altered the country’s grundnorm five times since 1999 though some items proposed for amendment were defeated at the state legislatures.

    Current Review that is ongoing focuses on critical areas like Governance and power, Electoral and Judicial Reforms, Human Rights and Social Justice. Others are Institutional Reforms. The review process which actually started in February 2024 is expected to be concluded by 2026 with the final draft to be sent to State Houses of Assembly for ratification before the end of 2025.

    Needless to stress that huge sums have also been expended on the exercise in question with the federal legislature budgeting separately for it.

    The current review exercise, chaired by the Deputy Senate President, Barau Jibrin, began with a retreat in Kano and proceeded to hold simultaneous zonal public hearings in each of the six geopolitical zones, which has ended.

    Just as many Nigerians have criticized some provisions of the 1999 Constitution, which has been in use since the country’s return to democratic rule – suffice it to say the criticisms have come in the light of the rapid technological, social, and political developments in Nigeria.

    Happily enough, with the public hearings in the 5 geopolitical zones now concluded, the Senate Committee on Constitution Review will do well to consolidate its feedback into a harmonized report.

    Remarkably, the Senate Committee on the Review of the 1999 Constitution says it has heard Nigerians loud and clear after its public hearings on the review of the 1999 constitution and will take appropriate steps on all issues raised.

    Sen. Jubrin Barau, the Deputy Senate President and Chairman of the Senate Constitution Review Committee, said this while speaking with newsmen at the close of the South West Public Hearing held in Ikeja, Lagos. According to him, the final draft of the ongoing constitutional amendment would be sent to the state Houses of Assembly for ratification before the end of 2025.

    Earlier, he said the committee received 31 proposals for the creation of new states and 18 requests for the establishment of additional local government areas from various interest groups in the country.

    Giving the breakdown of proposals for creation of new states, the high-ranking parliamentarian said there were six requests from the North-west, eight from North-central, five from South-east, six from North-east, six from South-south and four from South-west.

    He also noted that some prominent Abuja indigenes submitted a request seeking recognition of the Federal Capital Territory as a state. For local government areas, the gathering was told that seven requests were received from the North-west, five from the North-central, one from the North-east, three from the South-south, one from the South-east and one from the South-west.

    Meanwhile, the House of Representatives is set to commence its zonal public hearings in six centres of the three geopolitical zones in the North from Friday, 11th July to Sunday, 13th July 2025. And in six centres of the three geopolitical zones in the South from Friday, 18th to Sunday, 20th July, 2025.

    What is the way forward for the ongoing constitution review process? Any lessons for the green chamber to learn from the experiences of the red chamber? How should criticisms regarding effectiveness of the programme and pitfalls witnessed across the different geopolitical zones be handled?

    While navigating the complex regulatory landscape of submitted memoranda, there are potential slip-ups for the 10th NASS to look out for before the National Public Hearing slated for Monday, July 21, 2025.

    These include the scheduling of polls in a day, special seats for women, independent candidacy, LG election commissions and State creation. Other booby traps are creation of state police, devolution of power, regional autonomy and resource control, among others.

    It is instructive to reiterate that no empirical formula is additionally required to decipher that the review process is often seen as perpetuating the historical North-South divide – with debates frequently framed around the interests of different regions rather than the needs of the entire nation. Another potentiality of a landmine, if you asked me.

    Will remarkable changes be witnessed in the programme this time around? One can only hope against all odds that the review process succeeds in addressing historical grievances and power imbalances to foster national unity and cohesion. 

    Ultimately, the favourable outcome of Nigeria’s 10th NASS constitution review process will hinge on its ability to address the aforementioned challenges, ensure genuine inclusivity, and deliver a document that reflects the aspirations of all Nigerians.

  • SGF position cannot stop North-Central from having National Chairman – APC Forum 

    SGF position cannot stop North-Central from having National Chairman – APC Forum 

    By Israel Adamu ,Jos 

    The North-Central All Progressives Congress (APC) Forum has declared that holding the position of Secretary to the Government of the Federation (SGF) cannot stop the region from producing the National Chairman of the party. 

    The Forum made the declaration in a statement issued by its Chairman, Alhaji Saleh Zazzaga, on Saturday in Abuja. The statement was in response to insinuations that the position of SGF should be taken away from the North-Central if the region is to produce the National Chairman of the APC. 

    Insisting that the North-Central should produce the National Chairman of the APC, in line with the party’s subsisting zoning arrangement, the Forum kicked against the suggestion that the region cannot produce both the SGF and National Chairman.

    “The North-Central deserves to produce the SGF and APC National Chairman due to the region’s contributions to the party. The North-Central gave President Bola Tinubu and the APC the third highest number of votes in the 2023 presidential poll – behind the South-West and North-West,” the statement noted. 

    Tinubu received 1,760,993 votes (41.3%) in the North-Central in 2023. Peter Obi of the Labour Party got 1,415,557 votes (33.2%) while Atiku Abubakar of the Peoples Democratic Party received 1,025,178 votes (24.1%) in the region.

    “Among the various geopolitical zones, the North-Central has the highest number of APC governors. APC controls five of the six North-Central states – Benue, Kogi, Kwara, Nasarawa and Niger. This unmatched record demonstrates the strength and the wide acceptance of the party in the region. 

    “Returning the position of National Chairman to the North-Central, in accordance with the zoning arrangement of the APC, is not a favour, rather it is well deserved. The North-Central deserves to produce both the SGF and APC National Chairman. Holding the position of SGF cannot stop the North-Central from producing the National Chairman,” the statement said. 

    The Forum, in the same vein, faulted calls that the position of APC National Chairman should be reserved for Christians from the North-Central. 

    Warning those behind the calls to have a rethink, the APC Forum stressed that the North-Central is a secular region.

    “The politicians who are bringing up the issue of religion are doing so because of their selfish interests. We hereby warn them to have a rethink. The North-Central has historically been a secular region and we will not allow self-serving individuals to use religion to divide our people.”

    The Forum alleged that the particular politicians pushing the religious agenda did not support Tinubu and the APC during the 2023 presidential election.

    “We know that these are the same people who worked for Labour Party candidate, Mr. Peter Obi, in the last election. They did not support President Bola Tinubu, rather they delivered their polling units to the Labour Party,” the Forum said while urging Tinubu to ignore calls that religion should be considered in selecting the next APC National Chairman.

    Instead of considering religion, the North-Central APC Forum urged Tinubu to consider track records in making appointments.

    “Only individuals with proven track records should be considered for appointment into any position, that is the only way to maintain the growth, progress and dominance of the APC. Any other consideration, including religion, should be jettisoned.

    “Our endorsement of Alhaji Tanko Al-Makura for the position of National Chairman is based on his track records – as a loyal, committed party man and a political office holder who had served as a governor and a senator. 

    “We believe that the party, and the country in general, will be better if track record is considered when appointments are made,” the statement said. 

    Restating the endorsement of Al-Makura for the position of APC National Chairman, the Forum noted that he is from the North-Central, particularly Nasarawa State, where the removed former national chairman, Abdullahi Adamu, hails from. 

    The Forum further observed that Al-Makura is from the Congress for Progressive Change (CPC) bloc which is part of the three legacy parties that merged to form the APC. It noted that among the three legacy parties –  the Action Congress of Nigeria (ACN), the Congress for Progressive Change (CPC) and the All Nigeria Peoples Party (ANPP) – the CPC bloc is the only one that has not held the APC chairmanship position.

    The statement added, “Senator Tanko Al-Makura was a two-term governor whose clout and experience are pluses and both former and sitting governors will see him as one of their own. He was a former Senator who will be seen as part and parcel of the legislature. He was among the chairmanship aspirants who accepted without grudges to the consensus option that threw up Abdullahi Adamu as  National Chairman during the APC National Convention in 2022. His loyalty to APC and Mr. President is not in doubt.

    “He has discharged critical party assignments in the country that gave him first hand ideas and intrinsic knowledge of the party nationally.”

    The party assignments include Chairman, Ekiti State APC Primary Election Committee that produced former Governor Kayode Fayemi in 2018. Al-Makura also served as the Chairman of the North-East Zone Reconciliation Committee in 2018, and equally as a member of the Baba Bisi Akande APC Reconciliation Committee in 2020.

    “He has a very rich experience and knowledge of political activities as he was Youth Leader (Plateau State) in National Party of Nigeria (NPN)  – 1979; State Secretary (Plateau State) in National Republican Convention– 1989; founding member of the Peoples Democratic Party (PDP) – 1999; Governor on the platform of the CPC – 2011; pioneer member and signatory to the merger that found APC – 2013 and APC Senator – 2019,” the statement added. 

    The North-Central APC Forum also pointed out that Al-Makura was among the CPC bloc stakeholders who stood by the APC and President Bola Tinubu when some members wanted to pull out of the party and join the opposition coalition, earlier in 2025.

  • KDSG commence free bus service for Civil Servants, Students

    KDSG commence free bus service for Civil Servants, Students

    By Achadu Gabriel, Kaduna 

    The Kaduna Subsidized Transport Scheme (KSTS) will commence  free Bus Town Service (BTS), Transportation for civil servants, retirees and students from Monday, the 7th of July, 2025.

    The Director General of Kaduna State Regulatory Authority (KADSTRA), Engr Inuwa Ibrahim who disclosed this in a press statement, stated that civil servants, retirees, and students will enjoy free rides for the first six months. 

    He clarified that Students of public and private schools, from primary to tertiary level will also benefit from this initiative. 

    Engr. Inuwa added that thereafter, 60% transport fare subsidy will be available to the general public. 

    The Director General pointed out  that the gesture underscores Governor Uba Sani’s commitment to the welfare of civil servants, senior citizens and students in Kaduna State.

    Inuwa who said that some of the buses will start plying the road on Monday, warned that the free  transport service will operate in strict adherence to  order, security and efficient service delivery.

    According to him, civil servants will be ‘’granted access to the buses upon presentation of valid staff Identity card and a matching National Identification Number, (NIN) to prevent misuse and ensure that only genuine government workers enjoy the free bus service.

    The statement further clarified that ‘’students from both public and private schools will be allowed to board the buses, provided they are in their complete school uniforms.’’

    Engr. Ibrahim also said that ‘’all personnel of recognized security agencies are eligible to access the buses, upon proper identification’’.

    The statement further said that the buses will ply three routes throughout the duration of the free transport service, adding that   route one comprises: a)     Rigachikun – Kawo – Kasuwa – Sabo, b) Sabo – Kasuwa – Kawo – Rigachikun.

    “Route two is made up of: a)     Rigachikun – Kawo – Independence way – Yakowa Road, b) Yakowa Road – Independence way – Kawo- Rigachikun respectfully.

    “In addition, route three consists of:

    a) Tudun Wada – Poly road – Sokoto road – Kawo, b) Kawo – Sokoto road – Poly road – Tudun Wada”, it added.

    The Director General advised commuters against unnecessary rush and jumping of the queue while trying to get unto the buses, adding that law and order will be strictly maintained.

    It will be recalled that President Bola Tinubu commissioned 100 Compressed Natural Gas(CNG) buses at Murtala Mohammed Square during his state visit on June 19, 2025.   

  • NDDC Bolsters Bayelsa Communities with Essential Aid

    NDDC Bolsters Bayelsa Communities with Essential Aid

    Amgbare Ekaunkumo, Yenagoa 

    The Niger Delta Development Commission (NDDC) has distributed relief materials to the Otuasega and Oruma communities in Bayelsa State, reinforcing its dedication to supporting Niger Delta residents.

    Speaking at the distribution event, Mrs. Chioma Nwakwe, NDDC Deputy Director of Education, Health, and Social Services, represented Managing Director Dr. Samuel Ogbuku and linked the initiative to President Bola Ahmed Tinubu’s Renewed Hope Agenda.

     “We are dedicated to supporting our people through targeted interventions,” Nwakwe said, citing the recent launch of the NDDC’s 2025 Free Medical Mission.

    The distribution follows First Lady Senator Oluremi Tinubu’s recent commissioning of a refurbished hospital and school in Otuasega, where the NDDC supplied desks, chairs, and U-Lesson tablets. 

    “With the First Lady’s support, we’re delivering vital aid to these communities,” Nwakwe noted.

    The founder of Ednest Egerue Foundation, Mrs.Susan Ibiama, lauded the partnership, stating, “This initiative is critical for communities facing significant economic challenges.”

    Receiving the materials on behalf of OTuasega Community, Mr. Innocent Abbey, Vice Chairman of Otuasega’s Community Development Committee, thanked the NDDC for its contributions, including a modern school, hospital, and youth corps lodge.

     “These supplies will greatly ease the burdens on our community,” he asserted.

    The Secretary of Ngbiama-Oruma Community, Mr.Akaribo Lamanya, praised the NDDC’s leadership and committed to equitable distribution of the aid. 

    “This support is a lifeline for our people during these challenging times,” he declared.

    The NDDC’s actions highlight its ongoing mission to provide relief and foster sustainable development throughout the Niger Delta.

  • 7-year-old boy commits suicide in Abuja

    7-year-old boy commits suicide in Abuja

    By Achadu Gabriel, Kaduna 

    An oddity has occur as a primary school boy of about 7 years old. has reportedly committed suicide.

    The sad incident happen in Byazin in Kubwa area of Abuja, Nigeria’s Federal Capital Territory (FCT), on Thursday around 9am.

    The cause of the dastardly act is yet to be ascertain at the time of filing this report. Neighborhood sources said the victim has been at home for over 3 months, most times locked up, due to FCT primary school teachers strike over minimum wage.

    A witness also told our reporter that the suicide was committed right inside the room of the victim’s parents located behind CAC church, Byazin LEA primary school.

    The victim whose identity was given as Samuel Osho, was reportedly found dead with a rope tied to a window iron by a senior sister who raised the alarm. 

    The development sparked confusion as to whether a boy of his age could arrange for his suicide, but information had it that the parents who teaches in public and private schools left home for work before the  incident happened.

    Eyewitness also said late Samuel Osho was the last born of the family of three children but was home with a senior sister on Thursday when he commit suicide.

    Efforts to reach the parents were futile due to tension surrounding the cause of the boy’s death as the matter was allegedly not reported to the police.

    “He died bleeding through his nose and feases coming through anus when we saw him with the rope tied round his neck, said the withness

  • Guild of Editors suspends editor for one year

    Guild of Editors suspends editor for one year

    The Nigerian Guild of Editors (NGE) has suspended one of its members, Mr. Steve Osuji, for violating the “off the record” provision in the Code of Ethics for journalists in Nigeria.

    In a press statement by Mr. Eze Anaba (President) and Mr. Onuoha Ukeh (General Secretary), the Guild stated that there was an agreement that the keynote address delivered by the Director-General of the State Security Service (SSS), Mr. Adeola Oluwatosin Ajayi, at its 25th Biennial National Convention in Enugu, was off-the-record and not for publication.

    The Guild said that despite anouncement of this agreement, “a senior journalist and member of the Guild, Mr. Steve Osuji, published an article based on the presentation on his social media platforms, breaching our Code of Ethics on confidentiality.”

    The professional body said that it “takes this professional misconduct seriously, and has announced the suspension of Mr. Osuji from our professional body for one year, effective immediately.

    The NGE apologised to the Director-General of the SSS and the institution he represents for the embarrassment caused by Mr. Osuji’s actions, while reaffirming its “commitment to upholding the highest standards of journalism and ensuring that our members adhere to our code of ethics.”

    The NGE said that “Mr. Osuji will have the opportunity to appeal this decision.”

    The Guild also restated its dedication “to promoting professional conduct and maintaining public trust in the media.”

  • Prof Rufa’i Ahmed Alkali Calls on Tinubu Visit Kolmani Oil Field

    Prof Rufa’i Ahmed Alkali Calls on Tinubu Visit Kolmani Oil Field

    By Mike Odiakose

    A Chieftain of the ruling All Progressives Congress (APC), Prof Rufa’i Ahmed Alkali, has called on President Bola Tinubu to pay a visit to the Kolmani Oil Field, situated along the Boundary between Gombe and Bauchi States.

    In a statement issued in Abuja, Prof Rufa’i Ahmed Alkali said the Kolmani Oil Project, launched with high expectations and fanfare, represents not only a potential economic transformation for the North East but also a powerful evidence of the inclusion of the North East sub region in national development.

    He added that a visit to the oil project by President Tinubu will would further demonstrate continuity of purpose, reaffirm the Federal Government’s commitment to the region, and inject renewed momentum into the project, which many fear, is stagnating.

    He added that a presidential visit will also boost Tibunu’s approval rating in the North East ahead of 2027 general election.

    Part of the statement reads: “As Nigeria gradually builds momentum towards the 2027 General Elections, it is becoming increasingly clear that President Bola Ahmed Tinubu must recalibrate his political strategy, particularly in key regions such as the North East.

    “One project that remains deeply significant —and practically critical —in the region is the Kolmani Oil Field, situated along the Boundary between Gombe and Bauchi States.

    “The Kolmani Oil Project, launched with high expectations and fanfare, represents not only a potential economic transformation for the North East but also a powerful evidence of the inclusion of the North East sub region in national development.

    “Its successful execution holds huge promise of generating employment for the youths, assuring of energy security, and infrastructural development for a region historically marginalized in the Nigeria’s petroleum Industry.

    “In view of the strategic nature of the Kolmani Oil Field, many stakeholders and citizens in the North East are asking a critical question: When will President Tinubu visit the site?

    “This question is not rooted in mere sentiment—it stems from a desire for visible, committed leadership.

    “A presidential visit to Kolmani would further demonstrate continuity of purpose, reaffirm the Federal Government’s commitment to the region, and inject renewed momentum into the project, which many fear, is stagnating.

    “More than just a photo opportunity, President Bola Ahmed Tinubu’s physical presence at Kolmani would be a strategic political move, particularly at this point in time, when the political environment is being heated up.

    “President Tinubu’s visit to the Kolmani oil field will undoubtedly send strong signal of the administration’s Northern outreach based on tangible economic policy thrust. This will also reassure the communities that their President has not forgotten them.

    “In an era where political capital is increasingly tied to performance and presence, such Presidential acts carry huge strategic weight. The Kolmani Oil Field is not just an oil site—it is a litmus test of the government’s commitment in delivering equitable development across the regions.

    “As 2027 approaches, the North East will weigh words against action. President Tinubu still has time—and the opportunity—to write a special chapter of inclusion, by showing up where it matters most, at the time it matters most.

    “So, we ask again: When will President Tinubu visit the Kolmani Oil Field?”

  • Julius Berger Reaffirms Resilience and Long-Term Value at 2025 Investors Forum

    Julius Berger Reaffirms Resilience and Long-Term Value at 2025 Investors Forum



    Julius Berger Nigeria Plc, the nation’s leading engineering construction powerhouse, reaffirmed its reputation as an investment-grade company at its 2025 Investors Forum, held virtually on June 24.


    The Forum was notably the first hosted by the Company’s new Managing Director, Engr. Dr Peer Lubasch, who assumed leadership in October 2024. Alongside Executive Director Finance, Mr Christian Hausemann, Dr Lubasch presented a compelling update on the company’s financial resilience, strategic direction, and forward-looking agenda reinforcing Julius Berger’s enduring appeal to both local and international investors.
    Julius Berger delivered a record-setting performance in 2024, underpinned by disciplined execution, operational resilience, and a forward-thinking growth strategy.


    Record Revenue Growth: Group revenue surged by 27.8% to ₦567.7 billion, fuelled by increased project execution and enhanced contributions from subsidiaries. Significant Increase in Profit: Profit before tax rose by 34.1% to ₦29.6 billion, supported by prudent cost management, FX-hedging through its German subsidiary, and investment returns.


    Asset Base Expansion: Total assets climbed 48.9% to over ₦1.023 trillion, reinforcing balance sheet strength.


    Historic Dividend: Paid its highest-ever dividend of ₦3.25 per share, totalling ₦5.2 billion, underscoring shareholder value creation.


    Credit Rating Upgrade: Upgraded from A- to A (Stable Outlook) by Augusto & Co., driven by strong governance and financial health.
    Diversified Shareholding Structure: 44.63% of shares held by a diverse mix of institutional, pension, and retail investors.


    Cross-Border Expansion: Secured a second international contract in the Republic of Benin, solidifying its regional expansion agenda.
    ESG and Digital Milestones: Major investments in solar power, digital fuel monitoring, and adoption of SAP S/4HANA ERP reflect a strong commitment to innovation and sustainability.
    Resilience and Strategic Leadership 
    Despite a turbulent macroeconomic landscape in 2024 marked by high inflation, exchange rate volatility, and surging material costs, Julius Berger delivered record financial results. Dr. Lubasch highlighted that “Julius Berger’s momentum stayed strong, though the year was marked by economic volatility and shifting market dynamics.” The Company’s robust structures, sound governance, and disciplined strategy ensured continued progress and operational stability. 
    Operational Excellence and Diversification 
    In 2024, Julius Berger successfully executed high-impact infrastructure projects across Abia, Bayelsa, Lagos, Delta, and Rivers states, alongside strategic federal assets in Abuja. Key projects included:


    Bodo-Bonny Road and Bridge: A Public Private Partnership (PPP) initiative unlocking economic potential in Rivers State


    Opebi-Mende Link Bridge (Lagos): Easing traffic congestion and improving urban mobility
    Port Harcourt Ring Road (Rivers): One of the largest urban infrastructure projects in the state
    Delta and Abia State Infrastructure: From road corridors in Warri-Effurun to full reconstruction of Port Harcourt Road in Aba.


    International Reach: A second contract win in the Republic of Benin supports Julius Berger’s regional growth strategy.
    The Company also commissioned landmark federal buildings, including the new Nigeria Upstream Regulatory Commission (NUPRC) headquarters and the rehabilitated Bola Ahmed Tinubu International Conference Centre, enhancing Nigeria’s diplomatic and commercial infrastructure.


    Subsidiary Performance and Diversification Strategy
    Julius Berger’s subsidiaries enhanced both technical capacity and revenue diversification across the Group for instance;
    Julius Berger International GmbH (Germany): Delivered foreign exchange earnings and led client acquisition in Europe.
    Primetech and Project Design Engineering: Drove green design integration, fuel monitoring systems, and digital engineering innovations.
    Abumet: Completed facades and high-grade installations including over 12,000 sqm of Evonig glass on major towers and
    Julius Berger Services Nigeria: Strengthened logistics and cargo handling, serving both internal and external clients.


    Subsidiaries are increasingly accountable for revenue generation beyond the parent company and are measured against KPIs to drive operational independence and profitability.
    On Governance and Stability Julius Berger’s Board leadership transitions were smoothly executed:
    Dr Peer Lubasch appointed Managing Director (Oct 2024)
    Engr. Goni Musa Sheikh appointed Chairman (April 2025); and
    Dr Muhammadu Indimi joined the Board (Nov 2024)
    The Board continues to provide high-level governance through five standing committees. Ongoing board education ensures alignment with evolving global ESG standards and risk frameworks.


    Julius Berger is among the first Nigerian firms to voluntarily adopt the ISSB’s IFRS S1 & S2 ESG reporting standards, with a full report due in 2027.
    As for Sustainability and Innovation, Julius Berger’s, sustainability remained a core focus in 2024:
    Clean energy adoption: Transitioned to solar across multiple sites; reduced diesel reliance
    Digital transformation: Deployed real-time fuel monitoring systems; migrated to SAP S/4HANA ERP


    ESG integration: Progressed toward ISSB-aligned sustainability reporting, with first full report expected by 2027
    CSI investment: ₦555 million committed to education, healthcare, rural infrastructure, and reforestation
    Financial Performance and Shareholder Value 
    , Julius Berger reported a 27.8% revenue increase to ₦567.7 billion and a 34.1% rise in profit before tax to ₦29.6 billion. Total assets reached ₦1.023 trillion, reflecting prudent financial management and growth. The Company’s highest-ever dividend payout of ₦3.25 per share (₦5.2 billion) underscores its commitment to delivering tangible value to shareholders. 


    The Executive Director Finance, Mr Christian Hausemann, also emphasised that Julius Berger’s low-leverage model, ₦162.0 billion cash reserves ensure funding flexibility and capital strength.
    A Compelling Investment Opportunity 
    Julius Berger’s 2024 performance confirms its position as one of Nigeria’s most investment-worthy companies. The Company’s ability to achieve record revenue and profit in a challenging environment, deliver historic dividends, and maintain a strong balance sheet demonstrates operational excellence and prudent management. 
    With a proven track record of over 750 completed projects, a forward-looking strategy focused on diversification and regional expansion, and a steadfast commitment to sustainability and innovation, Julius Berger stands out as a trusted partner for progress and a compelling vehicle for long-term value creation. 

    Julius Berger is Nigeria’s most trusted engineering and construction group, with over 60 years of expertise and more than 750 completed projects.

  • South East Group Berates PDP, Says Regions Marriage with Party a Nightmare

    South East Group Berates PDP, Says Regions Marriage with Party a Nightmare

    • Says Ndigbo have no future in PDP

    The Coalition of South East Youth Leaders, COSEYL, has berated the Peoples Democratic Party (PDP) for alleged serial injustice against the region, describing the zone’s marriage with the main opposition party as nightmarish.

    The group urged leaders of the party in the region to seek political alignment outside of the party ahead of the 2027 general election, maintaining that the region has no future in the PDP.

    It observed that besides what it termed the mistreatment of the region over the position of National Secretary zoned to it, the party had no plan to remedy the injustice of its failure to zone the party’s 2023 presidential ticket to the region ahead of the 2027 election.

    COSYL made its position known in a statement entitled “PDP has Used and Dumped the South East: Time To Dump the Party,” issued by its President-General, Comrade Goodluck Ibem, on Monday.

    “We note with deep sadness that a party co-founded by one of the likes of the late Dr. Alex Ekwueme, has continued to disrespect, use, and dump the South East region without regrets and redresses since the Jos 1998 Convention, when Ekwueme, was thrown under the bus in the presidential primary election for the 1999 election.

    “For the record, despite Ekwueme’s fate at the Jos convention, the South East gave PDP and Chief Olusegun Obasanjo 3.2 million votes, representing 78 percent of votes they cast in the 1999 presidential poll.

    “In 2003, PDP got 4.5 million votes from the region towards Obasanjo’s re-election, the presence of Dim Chukwuemeka Odumegwu Ojukwu, a revered Igbo hero on the ballot notwithstanding.

    “The South East voted massively again for PDP/Umaru Yar’Adua in 2024 even when Chief Mike Ahamba, SAN, was Muhummadu Buhari’s running mate.

    “PDP and Dr. Goodluck Jonathan got 4,985,246 in the South East in 2011 as opposed to 76,228 votes secured by Alhaji Atiku Abubakar of the Action Congress of Nigeria (ACN) despite Atiku running with Senator Ben Obi as vice presidential candidate.

    “Even when several other traditionally PDP states worked against the party in favour of the APC in 2015, Dr. Jonathan’s votes in the region were so massive as against Buhari’s abysmal performance that the former President punished the region mercilessly for eight years. The region was denied an opportunity to even head a paramilitary agency like the Nigeria Security and Civil Defence Corps, while he chose a rail line project to Niger Republic over the rehabilitation of the Eastern Rail Corridor to benefit the South East,” the group recounted.

    Continuing, COSEYL maintained that PDP’s woes amounted to ‘Nemesis Pro-Max’; retribution at work for the injustice done to the South East region.

    It recalled that whereas the PDP 2015 Post-Election Review Committee chaired by former Deputy Senate President, Chief Ike Ekweremadu, recommended the zoning of the party’s presidential ticket to the North in 2019 as a remedy for the perceived injustice to the region in 2015, “the PDP failed a moral test by refusing to zone the ticket to the South East in 2023 or take necessary steps to do things right with the region ahead of 2027.

    “Lets make no mistake about it, PDP’s woes of today is karma at work, given the injustice ingrained in their failure to zone the 2023 presidential ticket to the South East region. This bad fate forced the likes of Mr. Peter Obi and Engr. Dave Umahi out of the party and resulted in the electoral loss in the last general election.

    “Therefore, let no one be fooled; the South East has no future in the ungrateful and unjust party. It is high time South East PDP leaders took pragmatic steps to opt out of a party that has no regards for the region and chart a fresh political trajectory and realignment for the dignity, political redemption, and development of the region,” the statement concluded.