The Minister of Information and National Orientation, Mohammed Idris, has stated that President Bola Tinubu’s youth empowerment initiatives are driven by a sincere commitment to expanding opportunities for young Nigerians, rather than partisan political considerations.

Idris made the clarification on Tuesday night in Abuja during an interactive session with youths from the APC Youth Wing and tertiary institutions across the Federal Capital Territory.

The session, which featured open and candid conversations, was moderated by the APC National Youth Leader, Dr. Dayo Israel.

According to the minister, youth-focused programmes of the Tinubu administration are deliberately designed to be inclusive, accessible, and impactful, regardless of political affiliation.

“NELFUND is for Nigerians; it is not for APC. The 3MTT is for Nigerians; it is not for APC,” Idris said. “Everything the President is doing is about restoring prosperity, dignity, and renewing hope, so that young people can fulfil their potential and believe again in their country.”

He disclosed that, based on the latest data, over 788,000 students are currently benefiting from the Nigerian Education Loan Fund, NELFUND, with more than N250 billion committed to tuition support and student upkeep across tertiary institutions nationwide.

The minister also highlighted the Three Million Technical Talent, 3MTT, Programme, a flagship digital skills initiative launched by the Ministry of Communications, Innovation and Digital Economy. The programme is targeted at training three million Nigerians in high-demand technical and digital skills to improve employability and competitiveness in the global digital economy.

“What excites me most is that even those who say these programmes are not real are enrolling, including people from other political parties,” Idris noted. “That tells you these initiatives are working and reaching Nigerians as intended.”

Idris described the Tinubu administration as one that would be remembered as the most youth-friendly in Nigeria’s history, citing not only large-scale empowerment programmes but also the deliberate appointment of young people into strategic leadership positions.

“Young people must begin by trusting this administration,” he said. “This is a government that has invested heavily in your future and continues to listen, engage, and create opportunities.”

On the economy, the minister said the President’s bold reforms are beginning to yield positive outcomes, with signs of recovery becoming increasingly evident. He pointed to the steady reduction in food prices and a decline in inflation as indicators that the economy has turned a corner.

“Inflation is coming down,” Idris said. “The President projected a drop to 15 per cent, and today we are already at 14.45 percent. These are not coincidences; they are results of deliberate policy choices.”

He further noted that Nigeria’s recent exit from the Financial Action Task Force, FATF, grey list is a significant milestone that will strengthen the integrity of the financial system, enhance investor confidence, and improve Nigeria’s access to global financial markets.

Idris urged young Nigerians to continue supporting the administration as it lays a strong foundation for sustainable national prosperity. He also called on youths to use their influence and numerical strength on social media responsibly by amplifying verified information and countering misinformation.

“Social media is a powerful tool for development, but it can also be used to harm society,” he cautioned. “If you are not sure a piece of information is accurate, please don’t share it. Verify first.”

Idris reaffirmed that the Renewed Hope Agenda remains firmly anchored on youth empowerment, inclusion, and national renewal, stressing that the future the administration is building belongs to all Nigerians.

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In a startling revelation on the floor of the House of Representatives, Hon. Abdulsammad Dasuki (PDP, Sokoto) has alleged that the tax laws recently gazetted and released to the Nigerian public are not the same versions debated and passed by the legislature.

Raising a Point of Privilege during Wednesday’s plenary, Dasuki claimed that his rights as a lawmaker were breached because the final legal documents in circulation do not reflect the votes cast by members of the National Assembly.

Dasuki informed the House that after a three-day review, he discovered significant inconsistencies.

“I was here, I gave my vote and it was counted, and I am seeing something completely different,” Dasuki said.

He added that he obtained copies of the gazetted laws from the Ministry of Information and found them to be inconsistent with what was approved by both the House and the Senate.

The lawmaker stressed that the matter was not about moving a motion, but about drawing the attention of the House to what he described as “a serious breach” of legislative process and the Constitution.

He urged the Speaker to ensure that all relevant documents, including the harmonised versions, the Votes and Proceedings of both chambers, and the gazetted copies currently in circulation, are brought before the Committee of the Whole for scrutiny by all members.

Dasuki warned that allowing laws different from those duly passed by the National Assembly to be presented to Nigerians would undermine the integrity of the legislature and violate constitutional provisions.

“Mr. Speaker, I will be pleading that all the documents should be brought before the Committee of the Whole Thank you. The whole members should see what is in the gazetted copy and see what they passed on the floor so that we can make the relevant amendment. Mister Speaker, this is the breach of the Constitution.

“This is the breach of our laws, and this should not be taken by this honorable House. Thank you Mister Speaker,” he said.

Speaker Abbas Tajudeen, who presided the plenary, said he had taken note of the Point of Privilege raised by Dasuki and assured that action would be taken on the matter.

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As part of an intensifying grassroots engagement ahead of the 2027 governorship election in Oyo State, a leading aspirant on the platform of the People’s Democratic Party (PDP), Ambassador Olufemi Ajadi Oguntoyinbo, on Tuesday, December 16, held separate strategic meetings with Vice Chairmen and Chiefs of Staff from the 33 Local Government Councils in the state, formally seeking their support for his ambition to succeed Governor Seyi Makinde.

The meetings, which took place at different locations in Ibadan, underscored Ajadi’s consultative approach to politics and his determination to build a broad-based structure from the grassroots up.

Addressing the 33 Local Government Vice Chairmen, Ajadi described his aspiration as a divine calling and urged them to serve as foot soldiers in taking his message to the people at the ward and community levels.

“This ambition is not driven by personal gain but by God’s calling and a sense of responsibility to serve,” Ajadi said.
“I believe strongly that what God has ordained is already settled, and that is why I am taking this message directly to the grassroots.”

He gave an extensive account of his personal background and political journey, presenting himself as a blend of experience from different sectors.

“My name is Ambassador Olufemi Ajadi Oguntoyinbo. I am a passionate and hardworking son of Yorubaland, hailing from Oyo State, with maternal roots in Ogun State,” he said.
“I am a politician, an industrialist, a humanitarian and a trained journalist, with business interests spanning manufacturing, property management and entertainment.”

Ajadi said leadership is an inbuilt trait and a lifelong career path for him, describing it as a response to a divine call to contribute meaningfully to good governance and development.

He also traced his political exposure to the Late Hon. Sesan Adeagbo, popularly known as Elesan, whom he credited for introducing him to political leaders across Oyo State.

“He introduced me to political leaders across Oyo State in 2022, when I was aspiring for the presidency under the NNPP. His guidance shaped my political journey,” Ajadi said.

Recalling his decision to step down from the NNPP presidential race in favour of Dr Rabiu Musa Kwankwaso, Ajadi said the move demonstrated his commitment to party unity, noting that he was later offered the Ogun State governorship ticket in recognition of that sacrifice.

He explained that his eventual focus on Oyo State politics was encouraged by notable leaders, including Alhaji Bisi Olopoeyan, who formally invited him to extend his goodwill and political ambition to his father’s state.

Speaking on Ajadi’s political style, a party leader from Egbeda Local Government, Hon. Lukman Akinpelu, said the aspirant had distinguished himself through consultation rather than mere publicity.

“Many aspirants have billboards in every nook and cranny of Oyo State, but that is not politics,” Akinpelu said.
“Ambassador Ajadi has been moving around to consult PDP executives at the state, local government and ward levels, even as his billboards are visible across the state.”

According to him, Ajadi’s growing consultations have unsettled opposition parties and injected fresh dynamism into Oyo politics.

Several vice chairmen spoke in support of the ambition, while offering strategic advice. The Vice Chairman of Atisbo Local Government, Hon. Ogundiya Sola, emphasised party unity as key to success.

“If you carry party members along, many who left the PDP will return,” Ogundiya said.
“Please continue to do the good work that will unite the party, and you will be remembered for it.”

Similarly, the Vice Chairman of Ogbomoso South Local Government, Hon. Kareem Mujidat, urged Ajadi to continue to sustain grassroots penetration.

“You have a great and achievable dream. Use the vice chairmen to reach the grassroots and always follow up to ensure your message gets to the people,” she said.

In an emotional account, the Vice Chairman of Oyo West Local Government, Hon. Alade Nureni, praised Ajadi’s empathy during a recent visit to the council.

“When Ambassador Ajadi came to Oyo West for a scheduled meeting, we had just lost two party members from the same family in an accident,” Nureni said.
“Instead of being angry over the cancellation, he paid a condolence visit. That gesture is something Oyo West will never forget.”

Nureni also advised Ajadi to continue engaging key stakeholders across the party structure, acknowledging Governor Makinde as an influential figure within the PDP in the state.

Later on the same day, Ajadi met with Chiefs of Staff from the 33 Local Government Councils in Ibadan, where he unveiled what he described as a continuity agenda anchored on consolidating the achievements of the current administration.

“I am here to formally inform you that my aspiration is to continue from where Governor Seyi Makinde will stop, if I am fortunate with your involvement to be given the PDP ticket and the mandate of the people in 2027,” Ajadi said.

“What we are doing is not about personal ambition alone; it is about sustaining good governance, strengthening grassroots development and deepening the dividends of democracy across Oyo State.”

He disclosed that political leaders in Egbeda Local Government, including the PDP Chairman, Hon. Ebenezer Olawale Alawe, councillors and other stakeholders, had embraced his ambition as a collective project.

“Their support shows that this project belongs to the people,” Ajadi said.

Speaking on behalf of the Chiefs of Staff, Prince Rasaq Jelili Adewale of Irepo Local Government described Ajadi as a committed humanitarian whose consultations had helped to strengthen party unity.

“If God grants Ambassador Ajadi his heart’s desire, Oyo State will be better for it,” Adewale said.

“Since he declared his ambition, he has consulted widely and shown humility and respect for party structures.”

He commended Governor Makinde’s performance, particularly in infrastructure and youth employment, noting visible improvements across the state.

Other speakers, including Hon. Muyiwa Adewara (Oyo West), Alhaji Hassan Bello (Ibadan South-West), and Mrs Areo Grace (Ogbomoso North), the first female Chief of Staff in the state, urged Ajadi to uphold party discipline, respect party supremacy, and sustain inclusive consultations.

Mrs Grace emphasised that the attendance of the Chiefs of Staff, with the consent of their chairmen, reflected unity and respect for party structure.

The meetings concluded with prayers for the success of Ajadi’s aspiration, led by Hon. Adewara, Chairman of the League of Chiefs of Staff Forum, while the vote of thanks was delivered by the Egbeda PDP Chairman, Hon. Ebenezer Olawale Alawe.

Observers say the twin engagements signal Ajadi’s resolve to build a formidable grassroots network as the 2027 governorship contest gradually takes shape in Oyo State.

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…As he receives encomiums

By Cyriacus Nnaji

For a man who is widely known with the slogan, “With God nothing is impossible”, there is indeed nothing he sets out to do that is impossible. A man who came face to face with poverty as a child; now blessed by God almighty, has decided to give back to the society in various ways, a legend, an accomplished prophet who does not rely on tithes and offerings but has built an empire of schools to liberate and train human minds. Bishop (Dr) Tom Samson has demonstrated God’s faithfulness and has shorn like a million stars not just as a prophet of God and educationist but also as a philanthropist.

On Saturday, December 13, 2025, Bishop Tom Samson gathered Nigerians from all walks of life to the quiet community of Iyesi-Ota, it was the unveiling of his latest flagship, the Monarch University. The imposing structure of Monarch University edifice at the heart of Iyesi-Ota, the first of its kind in the annals of the community and it’s environs was formally unveiled, having gotten approval from the National University Commission (NUC).

To give both political, ceremonial and spiritual stamp of authority and stress the importance of the university to Ogun State and Nigerians, the Deputy Governor of the state, Her Excellency, Engr. Noimot Salako-Oyedele was present, all the first class obas including HRM Oba (Dr) Babatunde Adewale Ajayi, Torungbuwa 11, Akarigbo and Paramount Ruler of Remoland; His Majesty, Professor Adeyemi Obalanlege, Paramount Ruler of Ota land; and Oba (Dr) Adedapo Adewale Tejuoso, Oranmiyan Karunwi 111, Osile Oke-Ona Egba, graced the occasion.

Others include former Inspector General of Police, Mike Okhiro, Mike Igbokwe (SAN) and other anointed ministers of God, including the number one Televangelist, Bishop Matthew Ashimolowo, graced the occasion in persons.

The spiritual prayed, the royal fathers gave their royal blessings, the politicians gave their stamp of authorities.

The key Speaker during the occasion, the revered dynamic Bishop Matthew Ashimolowo, General Overseer of the London based Kingsway International Christian Centre (KICC) prayed for Tom Samson that he, having seen the sixth floor, he will see the seventh floor, and that if Moses could talk of 120, he would get there, and , “It shall be in strength, with grace, your eyes will not be deemed, your hands will be strong, may your hand be made strong. You’re very unique, you are very special, may God’s grace increase for you”. He described Bishop Tom Samson as a pacesetter. He went ahead to say that every generation has three kinds of people, followers, fans and pacesetters. Followers just follow what they see, they seek for direction, fans celebrate even when it cost them money, they wait for a goal to be scored before they can cheer, but pacesetters go where no one has ever been. They make a way where there is no way, they create the way, they define the rhythm, they set the tempo, he said a pacesetter is a visionary, he sees tomorrow, he moves with conviction.

Bishop Ashimolowo therefore called Bishop Tom Samson a pacesetter, adding that for him to have come to the rural Community of Iyesi-Ota, he must have moved with conviction. Pacesetters turn frustration to innovation, a pacesetter is a clinical example, people watch his steps, “Bishop Samson we are watching your steps, we have seen what you have done, we have seen what you have achieved. And as young men and women follow you, they will not miss their way,” Ashimolowo stated.

Apostle (Dr) Lanre Samson, wife of the celebrant, described her husband as a man of faith, a man of confidence, a hard worker, a goal-getter who enjoys so much grace from God, whose slogan is “With God Nothing is Impossible”, a true prophet called by God with so much passion in fulfilling the calling of setting the captives free and teaching them to reign over life’s circumstances.

She spoke further, “At home he operates in triple capacities to a fault; as a prophet, a loving hisband, and caring father. Such that if at anytime I want to take advantage of matrimonial indulgence to make a personal request he made me realize that his role as a prophet must not be undermined.

“Next to the Trinity is Bishop Tom Samson in my life. He is a pastor, prophet, husband, lover, mentor, and confidant. At this sixty, the year of our diamond jubilee, the journey, has just started,” She said.

Prof. Mrs Mopelola Omoegun, retired Professor and former Dean of Education, University of Lagos, and now the Vice Chancellor, Monarch University, while heaping encomium on Bishop Tom Samson, said education would improve if teachers in Nigeria are well taken care of. “If they are happy they will deliver, what I have learnt over the years is that teachers are not happy, that is what I have come to learn, if they are happy, they will deliver. People are running away from teaching because they are not taken care of. Today we have teachers that are not committed that is why education system is in a shambles. Teachers need encouragement, we have people who can teach but they are not teaching. Many studied education but they don’t want to teach, what is the problem? Here in Monarch University I told teachers to know how to draw the students close to them, so that they would have passion in impacting knowledge, at all levels of education, what is needed are dedicated set of teachers,” she said.

Earlier in his address, Bishop (Dr) Tom Samson thanked thousands of people who graced the occasion, adding that they have added colour to the event. He spoke further on other programmes that he has saying, “At 60, we have resolved to start a new beginning of the calling and mantle placed on us. To God be all the glory for the accreditation of the Monarch University, all pending assignments on the empowerment drive will be pursued in earnest within the first quarter of the new year that the women of our community can stand out on their own,”

He said the Tom Samson Foundation for now has several pupils/students in all arms of Educational sector within and outside Nigeria. “We are determined to touch and liberate as much souls in their thousands in the years ahead because when you touch people, you are entrenching virtues of a virile society.

“In the past years we have been maintaining and tarring our community roads despite some communal challenges. We must therefore thank God for his goodness and mercy and His great love shown to us in the years past as he will continually show to us as we march on in the journey of his grace,” Tom Samson maintained.”

He disclosed that his success is anchored on deep spiritual secrets that guide his life and ministry, passion for God, strong faith in God’s word, and relationship with the Holy Spirit.

The true man of God said the establishment of Tom Sampson Foundation has helped to alleviate poverty. “Growing upon hardship, poverty, public humiliation in school, selling fufu to survive, and losing his father due to an unpaid N2000 bill, Bishop Samson vowed to help the less-privileged and this birthed the Tom Samson Foundation, dedicated to humanitarian service.

“The Foundation has carried out free medical outreaches with drugs, check ups, free eyeglasses; food, clothing, and cash distribution during COVID-19 and after; skills acquisition for over 5000 women with start up funds; donation of transformers and electrical cables; establishment of schools; construction of boreholes in Egbeda and Iyesi-Ota and Road rehabilitation including Adegbola Street in Ikeja, Ota, and Agbara.”

Highlight of the event was the formal unveiling of the Monarch University by the Deputy Governor of Ogun State, Her Excellency Engr Noimot Salako-Oyedele in the presence of all the dignitaries at the event.

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• A Nigerian man has shared something he observed after returning to the same office he worked at five years ago
• Five years ago, he said he worked at the office as a broke customer care representative and noticed that the colleagues he left are still there
• He wondered why some people remain stagnant, questioning if they are okay where they are or are scared of failing

A man, @realbrunonwogu, said he returned to the same office he had worked at five years ago, but didn’t share why.

He shared a throwback picture of himself, noting that he worked at the office five years ago as a broke customer care representative.

A man poses some questions after returning to the same office he left five years ago.
Photo Credit: @realbrunonwogu
Source: TikTok

Man’s observation at his former workplace

In a TikTok post, the man said he noticed that his former colleagues still work at the same office five years after he left.

He said it got him wondering why some people remain stagnant. He questioned if they realise that there are better opportunities out there and further wondered if they are comfortable where they are or are scared of failing. He wrote:

Read also

Lady cries out, shares breakup text she got from boyfriend days after urging him to join Shiloh

“5 years ago. Worked as a broke customer care rep.”5 years later…I’m back at this same office.”The people I MET here are STILL here.”And it has got me wondering…”Why some people remain “stagnant””Do they know there’s something better out there?”Are they okay with where they are? Are they afraid of failing?”A man returns to the same office where he worked as a broke customer care rep.
Photo Credit: @realbrunonwogu
Source: TikTok

See his post below:

Man’s observation elicits mixed reactions

Legit.ng has compiled some reactions to the man’s observation below:

the standard said:

“It’s a two edge sword… but I choose the sharp end of freedom any time.”

Favour Opadara said:

“They are not willing to go the distance.”

Autos_Crib said:

“They are afraid of failing without having something to land back on in case it fails, the fear of failure is always strong.”

FFS~Home Essentials &more🛍️❤️ said:

“Sometimes people are afraid of failing,while some don’t know there’s something better out there. I was never a type who’s afraid of failing but no one involved me about better things having no clue is worst.”

Read also

Lady who attended 46 interviews lands 6 jobs at same time after several rejection letters

In a related story, Legit.ng reported that a man had dumped a warehousing job in the UK after three night shifts.

Man who quit N1m job shares regrets

Meanwhile, Legit.ng previously reported that a man who quit his N1 million job and relocated to the UK had shared his regrets.

In an interview with SVTV Africa, Collins shared that he used to make about Ghc16,000 (N1,076,255) to Ghc20,000 (N1,345,319) per month working with Somovision and his friends were surprised when they learnt he had left the job to move abroad.

Collins revealed that he regretted the decision he made when he got to the United Kingdom because his perception of life abroad was different from what he was experiencing. The entrepreneur shared that he made a plan to gather about £2,000 (N1,110,452) to move back to Ghana, but he tried for years, and he could not get that amount.

Source: Legit.ng

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A Nigerian music star, Ice Prince has stirred heated reactions online after declaring that eating breakfast is a “scam,” while opening up about his personal weight-loss journey and lifestyle changes ahead of a new project.

Speaking about how the transformation began, the singer explained that the decision was tied to his career and a new phase of his life.

“Anybody eating breakfast right now is a princess.”

According to him, discussions with his team earlier in the year pushed him to rethink his appearance and overall health.

In his words, “Dammy DAPA and Chopsticks told me we needed a new look for the next project. They said I should lose the belly, grow the beard, and something about it just sank in. That very day, I started my weight-loss journey.”

He went on to explain how his mindset around food completely changed.

“Everything that goes into your mouth should be medicine. It should play a role in your body. So I started watching what I eat. I started intermittent fasting, eating once a day, making ginger tea with turmeric, cloves and lemon.”

The singer added that he cut out sugar and alcohol almost entirely, adopted long walks and daily jogging, and eventually stopped eating breakfast altogether.

“I stopped drinking sugar, stopped alcohol. I walk every evening when I’m in Lagos and jog every morning by 5 a.m. I even cut off breakfast. Anybody eating breakfast right now is a princess. It’s a scam,” he said.

Social media reactions

@androidotai: “This is how wrong information is popularised on social media. I eat breakfast daily and don’t have a big tummy. Eat whole meals and avoid soda. I’m a food scientist.”

@boxypiper: “He’s about to drop his album. Na so dem dey move.”

@xvmmusik: “Me happily eating bole at 6:15 this morning.”

@exdotcome: “Say you no chop breakfast for morning no mean say you no fit chop am for relationships.”

@JokerSeil: “Enjoy your weight loss bro. You were a princess too.”

Watch the video below…

“Any guy that eats breakfast is a princess and barbie…”

Ice Prince speaks about his weight loss journey. pic.twitter.com/JNOxpMX4s2

— @𝗼𝗻𝗲𝗷𝗼𝗯𝗹𝗲𝘀𝘀𝗯𝗼𝘆 (@OneJoblessBoy) December 17, 2025

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The Caretaker Committee of a faction of the Peoples Democratic Party, PDP, in Bauchi State has cried out that Governor Bala Mohammed should be held responsible should anything happen to any of their members or supporters.

Members of the factional caretaker committee, which was recently appointed by the Nyesom Wike’s camp of the PDP led by Alhaji Abdulrahman Mohammed, raised the alarm while formally accepting their appointment.

The committee affirmed its unwavering commitment to diligently discharge the responsibilities entrusted to it.

The Bauchi factional caretaker committee said it would act in accordance with the Constitution of the party and the directives of the national leadership.

Speaking in Abuja on Tuesday, members of the committee, including Jungudo Haruna Mohammed and Alhaji Safyanu Zubairu thanked the Minister of Federal Capital Territory and other members of the factional National Executive Committee NEC,  and Board of Trustees, BoT, for their continuous commitment, leadership, and support towards the stability and progress of the party.

The committee said as law-abiding citizens, it will not resort to violence, as members are not products of thuggery or hooliganism, but of intellectualism, democracy, and respect for the rule of law.

“However, this stance should not be misconstrued as a sign of fear or weakness,” Haruna Mohammed said.

“The committee will therefore discharge its legal and constitutional responsibilities without any fear. Accordingly, should anything untoward happen to any member or supporter of the party, the Governor of Bauchi State, His Excellency Bala Mohammed, shall be held responsible.”

The committee further condemned the national convention which produced the Kabiru Turaki-led leadership of the party.

“They are hereby reminded that the purported convention held in Ibadan was conducted in blatant disregard of valid and subsisting court judgments and in the absence of supervision of monitoring by the Independent National Electoral Commission INEC,” Mohammed added.

The committee called on party members and the general public not to be deceived by the activities of the individuals

“Holding meetings with former governors, ministers, or members of the National Assembly can not and does not confer  any form of legitimacy Legitimacy can only be derived from strict compliance with extant laws, adherence to the Constitution of the party, and obedience to valid court orders, he said.

“They cannot violate the party’s constitution and other extant laws and then turn around to blame Minister Nyesom  Wike or the APC for the consequences of such actions. A similar scenario played out during the legal battle in which they attempted to forcefully remove Senator Anyanwu as National Secretary before the expiration of his tenure. They failed then, and they will fail again.

“Courts are not persuaded by social status or political influence; they are guided solely by facta, law, and compliance with constitutionalism. Claims that the Independent National Electoral Commission had recognized them amounts to nothing more than media propaganda and should be disregarded.

“Furthermore, following the decision of the Oyo State High Court striking out the name of INEC as a defendant in the matter, no-outcome, decision, or determination arising from the suit can be binding on INEC under any circumstances.

“Little wonder, therefore, that they have now hurriedly approached the Federal High Court, seeking an order to mandate or compel INEC to recognize the said convention and the individuals purportedly elected as members of the National Working Committee,” Mohammed said.

Similarly, the committee advised all “illegal” occupants of PDP secretariats across the state to immediately remove their personal belongings and vacate the premises within 14 days.

“Failure to comply with this directive will attract lawful consequences,” the committee warned.

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The 2023 Labour Party presidential candidate, Peter Obi, emphasises that reforming Nigeria’s tax system requires trust, transparency, accountability, and must serve the interests of Nigerians.

Obi made the statement on his verified X handle on Wednesday, responding to reports about a tax cooperation Memorandum of Understanding (MoU) between Nigeria and France.

While acknowledging that international collaboration is not inherently problematic, Obi stressed that agreements on tax administration, revenue systems, and data management demand full transparency, given their direct impact on public trust.

He said, “Recent reports concerning a tax cooperation Memorandum of Understanding (MoU) between Nigeria and France have generated understandable public concern.

“While international collaboration is not inherently objectionable, agreements relating to tax administration, revenue systems, and data management demand a high level of openness because of their direct impact on public trust.

“It is therefore worrisome that an agreement of this significance appears to have been concluded without the full terms being made public, and without a clear effort to explain its objectives, scope, and expected outcomes to Nigerians. Transparency is essential in matters that directly affect public revenue and institutional credibility.

“That said, I am not opposed to engaging foreign expertise. However, such engagements must be clearly justified, with a transparent explanation of the specific gaps they are intended to fill, why those gaps cannot be addressed locally, and, above all, the concrete benefits to Nigerians.

“This is especially important because Nigeria is not lacking in tax expertise. The country has a strong pool of qualified tax professionals, advisory firms, and globally recognised consultancies already operating locally, with the capacity to support tax reform and modernisation.

“In light of this, it is reasonable for Nigerians to question why external partnerships are made a priority instead of strengthening and leveraging existing local capacity. Sustainable reform should build institutions from within.

“These concerns arise at a time of significant economic strain. Over 60 per cent of Nigerians live in multidimensional poverty. Youth unemployment remains widespread.

“Small and medium-scale enterprises are burdened by multiple taxes, while government borrowing continues to rise without commensurate gains in productivity. In such circumstances, policy attention should focus on simplifying the tax system, closing revenue leakages, broadening the tax base fairly, and ensuring prudent use of public resources.

“Any agreement or policy initiative that lacks transparency, public confidence, and clearly defined, measurable benefits risks further eroding trust in government. It is therefore imperative that the Federal Government publishes the full MoU, clearly explains its rationale, and outlines the mutual benefits – particularly the tangible advantages Nigeria stands to gain.

“Leadership demands openness, accountability, and commitment to the interests of the Nigerian people. Decisions of this nature must always be guided by what best serves the nation,” Obi concluded.

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• Fidson Healthcare Plc has initiated the formal launch of its N21 billion Rights Issue, offering 600 million new ordinary shares at N35 each to existing shareholders
• The capital raise will fund increased manufacturing capacity, product innovation and pan-African expansion following strong nine-month results, including a 132 per cent surge in profit after tax and 56 percent revenue growth
• Shareholders are encouraged to exercise their rights during the offer period as Fidson reinforces its leadership in Nigeria’s pharmaceutical sector and commitment to sustainable long-term value creation

Fidson Healthcare Plc, Nigeria’s leading pharmaceutical manufacturer, on Friday, December 12, 2025 held a signing ceremony at the Company’s Head Office in Lagos to initiate the formal launch of its highly anticipated Rights Issue upon receipt of the final regulatory approval of the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX).

This strategic capital raise aims to generate a gross sum of up to N21 Billion – an injection vital to consolidating Fidson’s leadership in the industry, providing funds for increased production capacity and its aggressive pan-African expansion goals.

The Issue involves the offering of Six Hundred Million (600,000,000) New Ordinary Shares of 50 kobo each, priced at N35.00 per share.

The shares are offered to existing shareholders based on one new Ordinary Share for every four Ordinary Shares held as of the close of business on Wednesday, November 12, 2025, which is the Qualification Date.

This Rights Issue, which builds on a history of strategic capital-raising initiatives, comes at a time when the company has demonstrated exceptional performance, underscoring the strong operational execution and robust market position Fidson commands within the Nigerian and West African pharmaceutical landscape.

The nine-month results for the period ended September 30, 2025, solidify this strength, revealing a significant 132% year-on-year surge in Profit After Tax (PAT) to reach N7.97 billion. This outstanding bottom-line growth was underpinned by a 56% increase in Revenue, which reached N93.08 billion, reflecting robust demand and expanded market reach. Furthermore, effective cost management saw Operating Profit rise by an impressive 92% to N16.95 billion, demonstrating significant operational leverage and efficiency gains.

The N21 billion capital infusion is specifically targeted at increasing manufacturing capacity, driving product innovation and expanding market penetration across new territories.

Speaking at the signing ceremony, the Managing Director/CEO of Fidson Healthcare Plc, Mr. Biola Adebayo stated, “The successful formalization of this N21 billion Rights Issue marks a critical milestone for Fidson. This capital will cement our position as the foremost healthcare company in Nigeria and a dominant player across Africa. Our exceptional performance this year has demonstrated our ability to thrive and innovate, and this successful offer assures us we can accelerate our growth trajectory and create sustainable, long-term value for all our stakeholders.”

The Finance Director, Mr. Imokha Ayebae, in his remarks, highlighted the company’s impressive milestones in the capital market and explained the financial necessity and structure of the Issue.

 “This Rights Issue has been meticulously structured to be financially compelling and viable for our loyal investors. The proceeds will be deployed judiciously to optimize our operations, including technology upgrades and expansion of our product lines. Eligible shareholders are strongly encouraged to exercise their provisional rights during the period.” 

Mr. Imokha Ayebae 

Michael Nzewi, the CEO of CardinalStone Partners Limited, Lead Issuing house for the Rights Issue spoke about the equity capital raising journey of the company and indicated that its last offering in 2019 was at N4.50 compared to the current offer price of N35 which is a discount to current market price is a testament to the growth trajectory of the Company’s stock and the attractiveness of holding Fidson shares in an investment portfolio.

Shareholders whose names appear on the register as of the Qualification Date are urged to complete the Official Participation Form and lodge it, along with full payment, with their Stockbroker or any Receiving Agent listed in the Rights Circular before the closing date.

Fidson’s drive toward excellence in pharmaceutical manufacturing remains unwavering. We are committed to delivering value to our stakeholders, empowering our workforce, and driving innovation.

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Bhutan said Wednesday it will invest $1 billion from national cryptocurrency reserves to develop a “Mindfulness City”, which it hopes will become an economic hub for the tiny Himalayan nation.

Buddhist-majority Bhutan, squeezed between giants India and China, champions a policy of prioritising “Gross National Happiness” over growth.

But that has not helped the government deal with widespread unemployment, forcing thousands of young people to leave the country.

As part of broader efforts to reverse that trend by soliciting foreign investment, the landlocked kingdom in 2023 announced much-hyped plans for its “Gelephu Mindfulness City” (GMC), a special economic zone close to the Indian border.

Carbon-negative Bhutan has also aggressively promoted hydropower projects, earning substantial revenue by exporting electricity to energy-hungry India.

At the same time it has utilised the cheap power for its own drive to mine cryptocurrency, especially bitcoin.

“I must ensure that every Bhutanese is a custodian, stakeholder, and beneficiary of GMC,” King Jigme Khesar Namgyel Wangchuck announced Wednesday in a speech to mark the country’s national day.

“To support this policy, I am announcing today the allocation of up to 10,000 BTC (bitcoin), valued at approximately $1 billion. This commitment is for our people, our youth, and our nation.”

The king in 2023 said Gelephu will be a “Mindfulness City, encompassing conscious and sustainable businesses, inspired by Buddhist spiritual heritage”.

Bhutan’s GDP per capita is around $3,718, according to the World Bank.

Its state-run Druk Holding and Investments (DHI) invested $539 million — nearly a fifth of the total GDP — to establish cryptocurrency operations in 2021-2022, according to the World Bank.

It has since developed sizeable crypto holdings, although the exact value is not public.

The post Bhutan pledges $1 bn cryptocurrency for ‘mindfulness’ city appeared first on Vanguard News.

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