NIGERIA NEWS
Oyebanji Unveils New Edifice for LG Ministry – THISDAYLIVE
Gbenga Sodeinde In Ado Ekiti
The Ekiti State Governor, Biodun Oyebanji, has promised to invest huge resources in the modernisation of physical infrastructure where workers who handle local government administration operate, describing it as the most veritable impetus to accomplish full transformation of the third tier of government.
Governor Oyebanji pledged yesterday during the official inauguration of the new office for the Ministry of Local Government Affairs located within the precinct of the state secretariat in Ado Ekiti, the Ekiti State capital.
The governor, re-presented by his Deputy, Chief Monisade Afuye, was highly ecstatic with the completion of the project, and branded the structure as a necessity and a luxury, saying any office that handles the local government works, where over 70 percent of the population is resident, must operate under a conducive ambience.
As a pragmatic way of promoting excellence, Oyebanji added that his government has ramped up training for workers and shown commitment to their welfare, saying he will continue to provide all necessary incentives that can make the civil service the real engine room of governance.
He said his government was aware of the harrowing experiences of workers while operating under a challenging former office replete with inadequate space, aging infrastructure that is structurally weak, poor ventilation and safety, as well as fragmented work locations that impeded teamwork and coordination.
Oyebanji commended the workers for being resilient and dedicated despite operating with such daunting constraints.
He said: “We understand clearly that an institution charged with the coordination of the local government administration must operate in an environment that reflects efficiency, order, and dignity. Therefore, the reconstruction and expansion effort becomes a necessity and not a luxury.
“What we have before us is a transformation. Modern offices and work spaces, newly built additional offices to accommodate expanding responsibilities, improved ICT system, conference and meeting rooms designed for collaboration, better records management facilities, safer, healthier, and more comfortable working conditions.
“These facilities will enable officers in the ministry to plan better, coordinate better, supervise better, and ultimately serve our people at the grassroots better. By upgrading the capacity of this ministry, we are strengthening the backbone of grassroots administration across Ekiti State.
“This is consistent with our agenda for inclusive development, institutional reform, and people-centred governance.”
Espousing his views about the pivotality of the project, the state Commissioner for Local Government Affairs, Chief Folorunso Olabode, branded it a clear and more appropriate testament to Governor Oyebanji’s administration’s strides to enhance efficiency within the civil service.
Reeling out the accessories provided within the office, Olabode said it comprises 34-room offices that can accommodate 120 workers, describing the edifice as aligning perfectly with Governor Oyebanji’s doctrine of robust grassroots governance that can bolster productivity and enhance delivery.
Olabode revealed that the project has a moderately commodious mini conference hall that can accommodate 200 persons, thereby signposting how compact and effective the architectural design was.
“For many years, the need for a befitting office accommodation has been an issue that the staff members have yearned for. Today, we achieved it because we have a governor who places a high value on the efficiency and welfare of workers. Let us reciprocate the gesture by being dedicated to duties,” he stated.
The Chairman, Association of Local Government of Nigeria (ALGON), Hon. Olusegun Ojo, showered eulogies on Governor Oyebanji for elevating local government administration to a higher pedestal in terms of delivery enabled by high financial autonomy and strong aversion to abandoned projects.
Ojo promised that his colleagues at the local government level would continue to partner with Governor Oyebanji on his well-focused mission to rejuvenate the system and make it garner enough stamina to function properly, and to banish poverty and neglect at the third-tier cadre.
Saluting the state government’s commitment to the welfare of the civil servants, the Head of Service, Dr. Folakemi Olomojobi, described the project as an architectural masterpiece that befits the civil service, which can help engender staff effectiveness.
“You can notice that Governor Oyebanji is a lover of the civil servants. He believes in a functional and effective civil service, and we are having a ray of hope that things will begin to look up. Let us be dedicated to duties and do what we are supposed to do to enhance productivity,” he stated.
NIGERIA NEWS
‘We Will Make You Sweat In This Studio’
Prominent journalist and ARISE News Morning Show anchor, Reuben Abati, has publicly invited the Minister of the Federal Capital Territory, Nyesom Wike, to appear on the programme, insisting that the minister would be subjected to tough questioning if he honours the invitation.
Naija News reports that Abati made the remark during Tuesday’s edition of the ARISE News Morning Show, where he questioned Wike’s frequent media engagements outside the studio while avoiding direct interviews with the programme’s panel.
Speaking on the show, Abati claimed that Wike lacked the confidence to face the Morning Show crew, stating that the minister preferred selective media chats where he controlled the narrative.
“He has gone from Abuja to Port Harcourt, only God knows where he is going for another media chat,” Abati said.
He added, “He doesn’t have the confidence to come to this studio. Let him come, he will sweat, even with the AC. In this studio, we will make him sweat. Let him come here.”
Abati’s remarks drew attention on social media, with many Nigerians reacting to the challenge thrown at the former Rivers State governor.
Earlier on the programme, Abati also took a swipe at Wike’s media aide, Lere Olayinka, accusing him of excessive loyalty and sycophancy.
The former presidential spokesman criticised Olayinka for publicly kneeling to serve the minister, describing the act as unbecoming of a media professional.
According to Abati, such conduct reflected blind loyalty rather than professionalism in public service.
In a swift response, Olayinka fired back at Abati, lambasting him and describing the former media aide to ex-President Goodluck Jonathan as a failure.
Olayinka’s reaction further escalated the war of words, turning the exchange into a public media spat between both camps.
As of the time of filing this report, Wike has not responded to the invitation by the ARISE News Morning Show or to Abati’s remarks.
NIGERIA NEWS
Kwankwaso, Kano Gov Disagree Over Alleged Defection
The planned defection by the Governor of Kano State, Abba Yusuf, from the New Nigeria People’s Party (NNPP) to the All Progressives Congress (APC) is currently unsettling the political atmosphere of Kano State.
New Telegraph gathered that the planned defection is strongly opposed by the party’s leadership and its national leader, Senator Rabiu Kwankwaso.
The development has sparked internal disagreements within the NNPP, particularly between supporters of the governor and loyalists of the Kwankwasiyya movement founded by Kwankwaso.
In a press statement issued on behalf of the NNPP, the party said it was fully aware of the unfolding political situation and does not support any defection to the APC.
“We are aware of the developments happening here in Kano State concerning some individuals who intend to defect to the APC,” the NNPP Kano State Chairman, Hon. Hashim Suleiman Dungurawa, said.
“I want to make it clear that the Kano State party, the national party, and our national leader, Senator Rabiu Musa Kwankwaso, together with other leaders, do not approve of what is happening.”
Dungurawa disclosed that the party made several efforts to persuade those involved to remain patient and stay within the NNPP in the interest of the people of Kano State.
“We did everything within our power to persuade them to be patient and not defect to the APC, because of our responsibility to them and our responsibility to the people of Kano,” he stated.
He further appealed to the governor and others allegedly planning to defect to reconsider their decision.
“On behalf of all of us collectively, we once again appeal to them, for the sake of Allah and the Prophet, not to leave this party and not to defect to the party that we have opposed and which the masses and other voters have rejected,” he said.
The NNPP chairman also dismissed claims that some party officials were plotting to pitch the governor against Senator Kwankwaso.
“We have never put anyone against our leader, and if anyone has evidence, let them present it,” he said.
He urged residents of Kano State to remain calm and continue with their lawful activities, warning party members not to append their names to documents allegedly being circulated by “mischief makers.”
Reacting to the situation, the Director General of Media and Publicity, Sanusi Bature, acknowledged that there was a rift within the party.
He, however, declined to comment on the alleged defection.
“Yes, there are issues within the party, and we are aware of the disagreements,” Bature said when contacted. “However, I cannot speak on any matter relating to defection at this time.”
He added that the NNPP leadership was handling the matter internally and advised the public to avoid speculation.
Dungurawa concluded by calling on the people of Kano State and Nigerians at large to continue supporting the NNPP and its national leader, Senator Rabiu Musa Kwankwaso, ahead of future political engagements.
The unfolding crisis is expected to have significant implications for Kano’s political landscape as alignments ahead of the forthcoming elections continue to take shape.
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NIGERIA NEWS
Nigerians will resist the Tax Laws, Suspend it or Face Nationwide Protest – Youth Union Warns FG — Akelicious
The Nigerian Youth Unions’ Government (NYUG) has called on the Federal Government to suspend the planned implementation of the newly enacted tax reform laws, warning that failure to do so will further fan the coordination of a nationwide resistance of the Tax Laws by Majority of the Nigerian People.
The Youth Unions’ Government which has 63 registered Youth and student associations cutting across various socio-ethnic and civil society formations, well coordinated by the Emerging Leaders Forum of Nigeria (ELFON) raised concerns over what it described as a poorly communicated and constitutionally questionable implementation process ahead of the January 1, 2026 commencement date.
Addressing journalists in Abuja after the Unions’ emergency meeting on Tuesday morning, the National President of the Youth Union, Ambassador Godstime Chukwubuikem Samuel accused the government of failing to adequately enlighten Nigerians on the content, essence, long-term benefits and overall implication of the tax reforms.
According to the Nigerian Youth Unions, the lack of public enlightenment has heightened anxiety among citizens already battling economic hardship.
“Nigerians are not well enlightened about the essence, scope and long-term implications of the new tax reform law, hence you don’t expect us to keep quiet when the national assembly is also raising alarm over what many noted as forgery of tax documents sorrounding the passage of the same tax reform laws,” Godstime stated.
He further stated that reforms of such magnitude require extensive public awareness, grassroot enlightenment and trust-building.
“You sit with state governors and few allies who are the greatest beneficiaries of the trillions of naira allocated to states, to decide a tax reform without representatives of the people, Youth Unions, traders Union, teachers Union, drivers union, etc… just only you, state governors and Co? e no go work Sir”, Godstime noted.
NYUG also called on the Federal Government to form a body that will be saddled with the responsibility of monitoring how huge allocations sent to states are being utilized, noting that Local government funds are not significantly used to.the benefit of the local government areas and peoples development.
“It is more worrisome as Nigerians recieved shocks over claims by members of the House of Representatives that the gazetted versions of the tax laws differ from those passed by the National Assembly.
“If development happens to be true, then serious executive and legislative integrity concerns is eminent. A law whose authenticity is under investigation shouldn’t be implemented,” NYUG President opined.
Godstime therefore advised the federal government to immediately postpone the implementation pending comprehensive nationwide sensitisation and the conclusion of the National Assembly’s review of the alleged discrepancies.
President Bola Tinubu had earlier signed four tax reform bills into law — the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act — described by the government as the most far-reaching overhaul of Nigeria’s tax system in decades.
The reforms previously faced resistance from some lawmakers, particularly from the North. The controversy intensified after a House of Representatives member, Abdussamad Dasuki, alleged discrepancies between the laws passed by the legislature and the versions later gazetted.
Recall that the Minority Caucus of the House has also called for a halt to implementation pending clarification.
Godstime further stated that the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele’s continuous stands that the January 1, 2026 implementation date remains unchanged, insisting that the reforms are intended to provide economic relief for Nigerians maintains a serious anger within the youthdom and Society as many wonders if Nigeria is a banana Republic where you just come up with any law and expect it to be complied with.
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NIGERIA NEWS
Lagos: Police arrest 14 suspected traffic robbers on Lekki-Epe Expressway
Fourteen persons suspected to be involved in traffic-related robbery have been arrested at various points along the Lekki-Epe Expressway in Lagos over the past two weeks.
The arrests were confirmed on Tuesday by the Lagos State Police Command spokesperson, SP Abimbola Adebisi, via a post on her official X handle, @AbimbolaShotayo.
According to her, operatives of the Command’s Tactical Squad based in Elemoro carried out the operations that led to the suspects’ apprehension.
She explained that the arrests followed sustained patrols and intelligence-driven operations aimed at curbing criminal activities associated with traffic congestion and improving the safety of motorists and other road users along the busy corridor.
Adebisi noted that the development reflects the Command’s determination to strengthen security and uphold law and order on the Lekki-Epe axis, adding that the Tactical Squad has continued to proactively identify crime-prone areas and respond swiftly to threats posed by criminal elements.
She called on residents and commuters to support police efforts by providing timely and credible information that could assist in preventing and detecting crime.
“Security is a shared responsibility. Members of the public are encouraged to stay alert and promptly report any suspicious movements or activities to the nearest police station,” she said.
The police spokesperson further reassured residents and road users of the Command’s commitment to maintaining aggressive patrols and security operations to protect lives and property in the area.
She reiterated the Command’s community policing message, “See Something, Say Something,” stressing the importance of cooperation between the police and the public in sustaining peace and security.
NIGERIA NEWS
Ex-AGF Malami, son, wife to spend New Year’s Day in prison as court postpones bail hearing
The Federal High Court in Abuja has ordered the remand of former Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, his wife and son at the Kuje Correctional Centre, pending the hearing of their bail applications.
Judge Emeka Nwite fixed 2 January 2026 for the hearing of their bail applications, which imply that they will spend the New Year’s Day in prison.
Mr Nwite issued the remand order after the Economic and Financial Crimes Commission (EFCC) arraigned the three of them jointly on money laundering charges on Tuesday.
In the 16 counts brought against them, the EFCC accused them of illegitimate acquisition and concealment of the origins of multi-billion-naira worth of assets, including a university and hotel, mall, and residential houses, among others, in Abuja, Kano and Kebbi.
Already, EFCC has traced N200 billion worth of assets to Mr Malami in the three locations.
Mr Malami, his son, Abdulaziz Malami; and his wife, Asabe Bashir, also described an employee of a firm linked to the former minister, Rahamaniyya Properties Ltd, all pleaded not guilty to the charges.
Thereafter, the defence lawyers attempted to present their clients’ bail applications, a move the EFCC opposed on grounds that the prosecution needed time to file a written response to the bail request.
The defence urged the judge to take oral arguments from lawyers and dispense with the written bail applications already filed on behalf of the defendants.
But the judge, in turning down the option of oral arguments, said the “bail application had only been served on the prosecution a day earlier and allowing an oral application at that stage would amount to an ambush.”
The judge stressed that “the interest of justice will be met” by allowing the prosecution adequate time to respond to the written bail application.
He therefore adjourned 2 January 2026 for hearing of the bail application.
Mr Malami attended Tuesday’s proceedings from EFCC custody, where he had been detained since 8 December.
He had made unsuccessful efforts to secure pre-trial bail and release from custody until Tuesday’s arraignment.
On 23 December, the Federal Capital Territory (FCT) High Court in Abuja granted him bail in the same conditions earlier set by the EFCC.
But both the EFCC and Mr Malami disagreed over what the conditions were. Mr Malami maintained that he already met the bail conditions before the bail was revoked. But the EFCC denied ever revoking the bail and maintained that the former minister had yet to fulfil the bail conditions to be released from pre-trial detention.
The charges against him and his co-defendants included suspicious accumulation and frantic efforts to conceal the alleged illicit origins of multi-billion naira worth of assets in Abuja, Kano and Kebbi.
EFCC alleged in the charges that the defendants carried out various suspicious transactions and attempted to conceal the unlawful origins of billions of naira through bank accounts and property acquisitions across Abuja, Kano and Kebbi.
EFCC said many of the offences violated the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.
They allegedly committed the offences between 2015 and 2025, a period that includes the eight years Mr Malami served as the AGF during the late former President Muhammadu Buhari’s administration.
More details later.
NIGERIA NEWS
Anthony Joshua: Man Who Drove on Same Road 20 Minutes before Boxer’s Accident Releases Video, Speaks
- A man who plied the Lagos-Ibadan Expressway 20 minutes before world-renowned boxer Anthony Joshua’s accident has broken his silence on the state of the road
- The man released a video taken when he drove past the road minutes before the crash and dismissed claims that the road was not in good condition
- He suggested a possible cause of Joshua’s road accident and prayed for the repose of the boxer’s inner circle members, Sina Ghami and Latif “Latz” Ayodele, who were killed in the accident
Orowale Kolapo, known on Facebook as Oni Foto, has revealed that he drove past the Lagos-Ibadan Expressway 20 minutes before British professional boxer Anthony Joshua had an accident that claimed the lives of his two team members, Sina Ghami and Latif ‘Latz” Ayodele, on Monday, December 29.
Joshua was hurt in the car crash and is receiving treatment in a Lagos hospital, with some people attributing the accident to the state of the road.

Read also
Man shares video of Anthony Joshua’s coach and friend arriving in Nigeria days before car crash
Anthony Joshua lost two of his close friends in a fatal crash on the Lagos-Ibadan Expressway.
Photo Credit: Oni Foto, Instagram/@anthonyjoshua
Source: Facebook
Anthony Joshua’s accident: Man corrects wrong impression
However, Kolapo described such claims as untrue and tagged them the handiwork of propagandists.
According to Kolapo, the Lagos-Ibadan Expressway is one of the smoothest roads in Nigeria, as a whole, adding that there are no bumps from Berger to Iwo Road.
While describing the accident as unfortunate, Kolapo believes it might have been due to the driver’s miscalculation.
He prayed for the souls of those who lost their lives in the accident. Kolapo, who shared a video of the road, wrote:
“Anthony Joshua’s accident was like 20 mins after I drove past the same road and there is a misconception and propaganda going on that it was bad road that caused the mischap,”That is untrue.”Lagos/ibadan express way is one of the smoothest roads in Nigeria as a whole.m You will not step into a Bump from Beger to Iwo Road.
Read also
“I can’t believe Sina and Latz are gone”: Peter Okoye mourns following Anthony Joshua’s accident
“It is just unfortunate and I think it was a driver’s miscalculation.”May the souls of the dead rest well.”
British boxer Anthony Joshua was involved in a terrible road accident in Nigeria.
Photo Credit: Oni Foto, Instagram/@anthonyjoshua
Source: Facebook
Watch his video below:
Anthony Joshua’s accident: Man’s reaction generates buzz
Legit.ng has compiled some reactions to the man’s post below:
Oluwatobiloba Olabisi Babalola said:
“My husband had a flat tyre and we were fixing it when the accident happened like a flash. It was like I was watching horror film.”
Adegbite Ayoola said:
“I do pass this road every week.”I still pass there today nothing like bumps very smooth road.”The driver was the one that wasn’t driving carefully.”
Ajewole Clement Taiye said:
“I totally agree with you, it was the driver miscalculation or a seconds distraction when he was making a decision (overtaking) probably.”
Aremu Ọmọ Makinde said:
“Do they hired a driver or one of his friends drove the SUV. If one of his friends was the one driving. Probably inexperience he has on such road might have add up to the incident.”
Read also
Anthony Joshua’s strength coach’s last Instagram post before he died in accident breaks hearts
Idowu Olayinka said:
“I passed the same road this morning”I got to sagamu when I saw the news that an accident happened”Bad road???”No!!!”It’s really a sad occurrence.”May the souls of the dead rest in peace.”
Luqman Oyewunmi Oyeniyi said:
“According To FRSC, “illegal Overtaking Caused The Accident”.”Probably The Escorts Drive Their Usual Wawawa Way.!”
Kingsley Ojiakor-Uncle Santa said:
“I think overspending caused it and driver not being patient cos I learnt he hit a stationary truck.”
Anthony Joshua’s strength coach’s last post trends
Meanwhile, Legit.ng previously reported that the last Instagram post of Anthony Joshua’s strength coach, Sina Ghami, who died in a fatal road accident on Monday, December 29, had broken hearts.
While people from around the world heaved a sigh of relief that Joshua survived the accident with minor injuries, people also paid tributes to his close friends and team members who died.
The death of Sina, a qualified sports and exercise rehabilitator who co-founded Evolve Gym in London, left many in sorrow. His last Instagram post has now been flooded with condolence messages from heartbroken netizens.
Source: Legit.ng
NIGERIA NEWS
Old prophecy resurfaces after Anthony Joshua accident, sparking online reactions
An old prophecy about a boxer losing loved ones has resurfaced online following news of a road accident involving British-Nigerian boxing star Anthony Joshua in Ogun State.
The prophecy, shared two months ago by a prophetess identified as BrightTheSeer, recently regained attention after a video resurfaced on TikTok.

In the clip, the prophetess spoke vaguely about a boxer and the loss of loved ones without mentioning any name.
Following the recent incident, some social media users have linked the prophecy to the accident. The resurfaced video has since been widely circulated across social media platforms, sparking mixed reactions.
While some users believe the prophecy foretold the tragic event, others dismissed the connection as coincidental and overly speculative.
The renewed discussion follows a reported road accident involving the 36-year-old boxer on the Lagos-Ibadan Expressway in Ogun State on Monday.
Two members of his entourage were confirmed dead, while Anthony Joshua reportedly sustained minor injuries and was taken to the hospital for medical attention.
Online reactions have been divided. Some users expressed fear and concern over spiritual interpretations, while others urged caution, warning against drawing conclusions between prophecies and real-life tragedies without clear evidence.
One commenter wrote, “Does this mean negative prophecies can’t be averted? God, please.” Another added, “Life is spiritual, more grace and anointing.”
Others, however, called for calm, encouraging people to avoid superstition and panic while allowing authorities to properly investigate the incident.
As conversations continue online, many Nigerians are reminding the public to focus on prayers for the victims and their families, while separating spiritual beliefs from confirmed facts surrounding the accident.
Watch video below…
NIGERIA NEWS
Yahaya Bello Declares Bid for Kogi Central Senatorial Seat, Set to Battle Natasha
Former Kogi State Governor, Yahaya Bello, has formally announced his bid for the Kogi Central Senatorial seat ahead of the 2027 general elections, positioning himself to take on the incumbent senator, Natasha Akpoti-Uduaghan.
Bello made the declaration during a courtesy visit to the palace of the Ohinoyi of Ebiraland, where he met with traditional rulers, religious leaders and key stakeholders from the senatorial district.
Speaking at the gathering, the former governor said he had accepted calls from supporters to contest the election and affirmed his readiness to represent Kogi Central at the National Assembly.
“I accept to run for the Senate in 2027,” Bello stated.
The event was attended by Kogi State Governor, Ahmed Usman Ododo, as well as several political leaders and community stakeholders.
According to Politics Nigeria, Bello served as governor of Kogi State from 2016 to 2024. The Kogi Central Senatorial District is currently represented by Senator Natasha Akpoti-Uduaghan, who emerged victorious in the 2023 elections.
NIGERIA NEWS
Former AGF Abubakar Malami, Son and Wife Remanded in Kuje Prison
The Federal High Court in Abuja on Tuesday ordered the remand of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), at the Kuje Correctional Centre pending the hearing and determination of their bail application.
The trial judge, Justice Emeka Nwite, also directed that Malami’s co-defendants, his son, Abubakar Malami, and one of his wives, Bashir Asabe, be remanded in custody.
The order followed arguments from the defence team led by Joseph Daudu (SAN) and the prosecution counsel, Ekele Iheneacho (SAN).
Malami and his co-defendants are standing trial on a 16-count charge of money laundering filed against them by the Economic and Financial Crimes Commission (EFCC).
The EFCC alleges that the defendants conspired at various times to conceal, retain and disguise proceeds of unlawful activities amounting to several billions of naira.
According to the charge, the alleged offences span several years and involve the use of companies and bank accounts to launder funds, the retention of cash as collateral for loans, and the acquisition of high-value properties in Abuja, Kano and other locations.
The commission further claims that some of the alleged offences were committed while Malami was serving as Attorney-General of the Federation, in violation of the Money Laundering (Prohibition) Act 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act 2022.
NIGERIA NEWS
CBN projects Nigeria’s public debt at 34.68% of GDP in 2026 on exchange rate stability
Nigeria’s public debt is projected to rise to 34.68 per cent of Gross Domestic Product (GDP) by the end of 2026, with the trajectory expected to remain sustainable amid improved exchange rate stability.
The projection is contained in the Central Bank of Nigeria’s (CBN) 2026 Macroeconomic Outlook for Nigeria.
This, according to the CBN, shows a slight increase from the 33.98 per cent recorded at end-June 2025, reflecting expected new borrowings under continued discretionary fiscal policy actions.
Despite the increase, the apex bank said the country’s debt outlook remains stable, as key drivers of debt accumulation in recent years—particularly exchange rate-related valuation effects—are expected to weaken in 2026.
What the data is saying
According to the CBN, Nigeria’s public debt-to-GDP ratio is projected at 34.68 per cent by end-2026, compared with 33.98 per cent at end-June 2025.
“The public debt is anticipated to remain on a sustainable path in 2026. It is projected at 34.68 per cent of GDP by end-2026 compared with 33.98 per cent at end-June 2025,” the apex bank stated.
The CBN added that the revaluation effect on public debt, which dominated debt growth between 2023 and 2025 due to sharp exchange rate movements, is expected to narrow significantly in 2026 owing to improved exchange rate stability.
The apex bank explained that exchange rate changes were the main contributor to debt growth from 2023 to 2025, as currency depreciation inflated the naira value of foreign-denominated debt.
However, it said this trend is expected to taper in 2026, reducing the impact of valuation losses on the overall debt stock.
“With these valuation losses easing, debt growth will rely less on one-off adjustments and more on traditional factors like the primary balance, supported by the Tax Act of 2025 and real economic growth,” CBN noted.
The outlook, according to CBN, is supported by expected tax reforms and stronger growth, which should boost revenues and reduce reliance on exchange rate-driven debt growth.
What this means
The shift away from exchange rate-induced debt growth suggests that Nigeria’s public debt dynamics in 2026 will be shaped more by core fiscal fundamentals than by external shocks.
Sustained exchange rate stability, stronger revenues, and growth could improve debt service capacity, lower borrowing costs, and strengthen confidence in Nigeria’s medium-term debt sustainability.
What you should know
Earlier, the World Bank projected that Nigeria’s public debt would fall below 40% of GDP for the first time in over a decade.
According to the World Bank’s October 2025 Nigeria Development Update (NDU) themed ‘From Policy to People: Bringing the Reform Gains Home’, economic growth is expected to rise modestly from 4.2% in 2025 to 4.4% in 2027.
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NIGERIA NEWS
Infantino defends World Cup ticket prices, cites ‘crazy’ demand
FIFA President Gianni Infantino on Monday defended controversial ticket prices for the 2026 World Cup, revealing that organisers had received a record 150 million requests for tickets in the past two weeks.
Speaking at the World Sports Summit in Dubai, Infantino stressed that all revenues from next year’s tournament in the United States, Mexico and Canada would be pumped back into football around the world.
Infantino’s comments were his first public remarks since the ticketing furore erupted earlier this month, with fan groups branding ticket prices as “extortionate” and “astronomical”.
FIFA later responded to the criticism by announcing that a sliver of tickets on sale would be priced at $60.
“In the last few days, you’ve probably seen there is a lot of debate about ticketing and ticket prices,” Infantino told the Dubai conference on Monday.
“We have six, seven million tickets on sale and we started two weeks ago. I can tell you in two weeks, 15 days, we received 150 million ticket requests. This shows how powerful the World Cup is.”
Infantino said the majority of ticket requests had come from the United States, followed by requests from Germany and Britain.
“If you think that in 100 years of history of the World Cup, FIFA has sold 44 million tickets in total, so in two weeks for the next World Cup, we could have filled 300 years of World Cups,” Infantino said. “This is absolutely crazy.”
“And what is important, what is crucial is that the revenues that are generated from this are going back to the game all over the world and FIFA is the only organisation in the world…that finances football in the entire world.
“Without FIFA there will be no football in 150 countries in the world. There is football thanks to these revenues that we generate from the World Cup which we reinvest all over the world.”
Fan group Football Supporters Europe (FSE) had been among the most prominent critics of FIFA’s pricing strategy for 2026.
The group said earlier this month tickets would cost almost five times more than tickets for the 2022 World Cup in Qatar.
AFP
The post Infantino defends World Cup ticket prices, cites ‘crazy’ demand appeared first on Vanguard News.
NIGERIA NEWS
NANS Seeks Probe Into Delayed, Nonpayment SIWES Allowances
The National Association of Nigerian Students (NANS) has expressed concern over the failure of the Industrial Training Fund (ITF) to address the long-standing issue of unpaid and delayed Students’ Industrial Work Experience Scheme (SIWES) allowances affecting Nigerian students across tertiary institutions nationwide.
NAN’s Assistant Secretary General, Comrade Adejuwon Emmanuel, in a statement on Tuesday, said thousands of students who participated in the SIWES programme have reportedly been denied their statutory allowances for years.
“Despite repeated complaints, petitions, and engagements by students’ unions and stakeholders, the situation has remained largely unresolved, subjecting students to undue hardship and eroding confidence in an intervention programme designed to support skill acquisition and workforce development.
“We note with concern that under the leadership of the Director General of ITF, Dr. Afiz Oluwatoyin Ogun, there has been no clear, transparent, or comprehensive explanation to Nigerian students regarding the status of these outstanding payments.
“The continued silence, poor communication, and lack of accountability surrounding SIWES disbursements raise serious questions about administrative efficiency and institutional responsibility within the ITF,” he said.
He added that while the Union does not pre-empt the outcome of any investigation, the widespread allegations of fund mismanagement and diversion circulating among affected students were deeply troubling and demand urgent clarification.
“The federal government owes Nigerian students an obligation of transparency, especially on matters involving public funds earmarked for education and youth development”, the students said.
The students’ body called on President Bola Tinubu to urgently intervene by ordering a comprehensive audit and investigation into the management of SIWES funds over the years.
“Pending the outcome of such an investigation, it is in the interest of institutional integrity and public confidence that the leadership of the ITF be reviewed. Where necessary, the Director-General should either step aside or be relieved of his duties to allow for an unhindered probe.
“Nigerian students should not continue to suffer for administrative failures. SIWES is not a privilege; it is a statutory entitlement. Any system that consistently denies students this right has failed its mandate,” the statement stated.
NIGERIA NEWS
Osun: Tensions rise as opposing ALGON leaders clash over NULGE
Tension heightened in Osun State on Tuesday as opposing leaders of the Association of Local Government of Nigeria (ALGON) issued conflicting statements over the Nigeria Union of Local Government Employees (NULGE) decision to end an 11-month strike and resume work in January 2026.
In a statement on Tuesday, ALGON chairman aligned with the All Progressives Congress (APC), Samuel Idowu Abiodun, alerted security agencies to possible breaches of peace across the 30 local government areas and the Ife-East Area Office in Modakeke.
Abiodun said security agencies should “hold Comrade Kehinde Nathaniel Ogungbangbe responsible should there be any breakdown of law and order following NULGE’s announcement that workers would resume duties on January 5, 2026.”
DAILY POST had reported that local government employees had withdrawn services since February 2025, following disputes over the resumption of office by APC-elected council officials reinstated by court orders, leaving council secretariats largely inactive.
Ogungbangbe, President of the Osun State chapter of NULGE, announced on Monday, December 29, that workers would return to work on Monday, January 5, 2026, and called on security agencies to provide protection during the resumption.
Reacting, Abiodun said the resumption notice was “a guise to cause chaos. The APC-elected chairmen and councillors remain the constitutionally recognized occupants of the councils pending final court determination.
“We have been patient and law-abiding since February, but the latest statement from Ogungbangbe shows an intention to subject the state to unrest.
“For the avoidance of doubt, our occupation of council secretariats is legal, constitutional, and legitimate until the courts finally determine our tenure.”
However, a rival statement issued the same day by Sarafadeen Abiodun Awotunde, Executive Chairman of Ifelodun Local Government and ALGON, rejected Abiodun’s claims and described his leadership as self-acclaimed.
Awotunde said the directive by NULGE for workers to resume was lawful and constitutional, insisting that local government employees had the right to access their workplaces without obstruction.
“Local government workers are the legitimate landlords in their councils, while the APC chairmen are illegal tenants. The dispute before the courts did not involve civil servants.”
He maintained that the tenure of the APC chairmen and councillors had elapsed on October 22, citing references made during Supreme Court proceedings.
Awotunde also said the Court of Appeal judgment of June 13, 2025, remained valid and enforceable, warning that continued occupation of council offices could amount to contempt of court.
“Should there be any breakdown of law and order anywhere in the state, Mr. Abiodun Idowu and his associates should be held responsible. We urge security agencies to ensure a peaceful resumption of work,” he demanded.
Meanwhile, the Osun State chapter of the APC, in a statement by Kola Olabisi, its Director of Media and Information, accused the Osun NULGE leadership of overstepping its authority by attempting to dictate conditions for the resumption of work after an 11-month strike.
The APC alleged that NULGE, under its chairman, Dr. Kehinde Nathaniel Ogungbangbe, had become “needlessly involved in partisan politics and was acting as an extension of Governor Ademola Adeleke’s political camp.”
The party described NULGE’s announcement of a January resumption as welcome but said the conditions attached were illegal and contemptuous.
The party insisted that employees could not determine which council executives they would work with.
“It is strange and preposterous for employees to be dictating rules of engagement for their employers. The tenure of the APC-reinstated chairmen and councillors remains before the Federal High Court in Osogbo and could not be decided by the union,” it added.
The APC warned that any attempt to enforce the resumption with conditions could threaten public peace and urged the Police, the Department of State Services, and the Nigeria Security and Civil Defence Corps to remain alert.
“Should there be any breakdown of law and order in the councils, Ogungbangbe should be expressly held responsible. Security agencies should protect workers who wish to resume without being tied to any obnoxious and illegal conditionalities,” the statement added.
NIGERIA NEWS
Abubakar Malami Appears In Court, Pleads Not Guilty To Money Laundering Charges (Video)
Former Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, appeared in court on Tuesday over allegations of money laundering brought against him by the Economic and Financial Crimes Commission (EFCC).
Naija News reports that Malami appeared along with his son, Abubakar Abdulaziz Malami, and one other person before Justice Emeka Nwite of the Federal High Court in Abuja over allegations of money laundering.
They, however, pleaded not guilty to the 16-count charge brought against them.
Naija News recalls that the EFCC had filed a 16-count charge before the Federal High Court in Abuja against Malami, his son Abubakar Abdulaziz Malami, and an associate, Hajia Bashir Asabe, over alleged money laundering and unlawful acquisition of properties valued at over N8.7 billion.
In the charge sheet marked FHC/ABJ/CR/700/2025, the defendants were accused of conspiring to conceal, disguise, retain and indirectly acquire proceeds of unlawful activities through bank accounts, corporate fronts and real estate transactions spanning nearly a decade.
The alleged offences were said to have been committed between 2015 and 2025, largely in Abuja, while Malami was serving as the nation’s chief law officer.
According to the charge filed by the EFCC and signed by a prosecution team led by Chief J.S. Okutepa, SAN, Malami and his son allegedly used Metropolitan Auto Tech Limited to conceal the unlawful origin of N1.014 billion kept in a Sterling Bank account between July 2022 and June 2025.
The commission further alleged that another N600.01 million was concealed in the same account between September 2020 and February 2021.
The EFCC also accused the defendants of retaining N600 million as cash collateral for a N500 million loan granted by Sterling Bank Plc to Rayhaan Hotels Ltd, despite allegedly knowing that the funds represented proceeds of unlawful activity.
In another count, the anti-graft agency alleged that between November 2022 and October 2025, the defendants indirectly took control of N1.36 billion paid through the Union Bank account of Meethaq Hotels Ltd, which they allegedly knew to be illicit funds.
The EFCC claimed that the alleged actions violate the provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022.
The anti-graft agency has listed a range of witnesses, including investigators, bank officials, bureau de change operators, and company representatives, to support its case.
NIGERIA NEWS
Ondo’s N524bn 2026 Budget Key Step To Economic Advancement
The Senior Special Assistant (SSA) on Public Enlightenment to the Governor of Ondo State, Comrade Olufemi Lawson, has described the newly signed ₦524 billion 2026 budget as a critical and strategic step towards economic advancement and improved welfare for residents of the state.
In a statement on Wednesday, Lawson reacted to the signing into law of the 2026 Appropriation Bill by Governor Lucky Aiyedatiwa, noting that the budget, tagged “Budget of Economic Consolidation,” reflects the administration’s firm commitment to sustaining growth, stability and inclusive development across Ondo State.
According to him, the size and focus of the ₦524 billion budget demonstrate the resolve of the Aiyedatiwa-led administration to consolidate ongoing reforms and developmental gains while laying a stronger foundation for long-term economic prosperity.
Lawson said the 2026 budget deliberately prioritises key sectors that directly impact citizens’ lives, including infrastructure development, education, healthcare delivery, agriculture and human capital development.
He explained that increased investment in infrastructure would further open up the state for business and industrial activities, while improved funding for education and healthcare would enhance human capacity and social wellbeing.
The SSA added that the agricultural component of the budget would strengthen food security, empower farmers and create employment opportunities for youths, while sustained attention to human capital development would ensure that Ondo State remains competitive in a rapidly evolving national and global economy.
Linking the appropriation to the administration’s policy direction, Lawson said the 2026 budget is a continuation of Governor Aiyedatiwa’s vision and governance philosophy.
According to him, the budget aligns clearly with the administration’s agenda, which focuses on Opportunity, Unity, Responsibility, Economic Development, Security and Education, all aimed at improving the quality of life of residents across the state.
Lawson reaffirmed the determination of the Aiyedatiwa administration to pursue the Our Ease Agenda with renewed vigour, stressing that the 2026 budget is not merely a fiscal document but a people-centred roadmap designed to uplift communities, stimulate economic activities and enhance the overall wellbeing of Ondo State citizens.
He called on all stakeholders, including public servants, lawmakers, private sector players and the general public, to support the effective implementation of the budget to ensure that its objectives are fully realised for the benefit of the people of Ondo State.
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