Category Nigeria News

President Bola Tinubu is excited over the Nigerian capital market surpassing the N100 trillion benchmark.

Tinubu, in a statement by presidential spokesman Bayo Onanuga, described this achievement as a historic milestone and a strong signal of renewed investor confidence in the economy.

“With the Nigerian Exchange (NGX) crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” the statement partly read.

The NGX All-Share Index closed 2025 with a 51.19 per cent return, eclipsing the 37.65 per cent recorded in 2024 and outperforming major global indices, including the S&P 500 and FTSE 100.

Tinubu said the performance places Nigeria among the world’s best-performing equity markets, adding that the country is no longer a frontier market to be ignored but a destination where value is being unlocked.

The ex-Lagos State governor said several companies across key sectors have recorded strong performances.

He cited industrial firms that have localised supply chains and a resilient banking sector driven by technological innovation.

According to him, the pipeline of new listings on the NGX is robust, with indigenous energy companies, technology firms, telecom operators and infrastructure-related businesses seeking to access the capital market to fund expansion.

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On the broader economy, Tinubu said inflation has continued to decelerate following initial challenges from reforms, dropping from a 24-month high of 34.8 per cent in December 2024 to 14.45 per cent by November 2025, with projections of 12 per cent in 2026 and a possible drop below 10 per cent before the end of the year.

He added that monetary tightening and the removal of “ways and means” financing have helped stabilise the naira, while investments in agriculture have contributed to easing inflationary pressures.

The Commissioner of Police, Lagos State, Olohundare Jimoh, says that street urchins have been eradicated to the barest in Lagos State.

Jimoh said this on Thursday during an interview on Channels Television’s The Morning Brief, stating that the police are not resting and want to ensure everywhere is safe.

“The one million boys going out and street urchins, we have eradicated them to the barest in Lagos,” the commissioner said on the breakfast show.

“We have been able to police Lagos to the extent that nobody can commit any major crime on the street.”

He stated It is all due to the effort they are putting in but noted, “We are not resting and want to ensure that everywhere is safe”

“Even the issue of traffic robbery has gone to the lowest level as at three to four days now, there has been no serious incident reported throughout Lagos state,” he said.

READ ALSO: Three Suspects Arrested For Alleged Arson On Traditional Worshipper’s House In Kwara

The commissioner said that during the New Year celebration, Christmas, Eyo festival and other concerts where thousands of people gathered, no single incident was recorded.

“That’s to say all our crime prevention and control strategies and other preventive measures are put into place and working around Lagos,” the commisioner said.

He explained that in Lagos, the Inspector General of Police, the Ministry of Police Affairs provide fueling for their patrol vehicles which is complimented by efforts from the Lagos State Government.

“So it’s unheard of that somebody wants a police assistant and you will be asking for fuel,” Jimoh said.

The commissioner asked Lagosians to report any case of crime to him.

The Special Adviser To Oyo State Governor On Security, Fatai Owoseni, has described Tuesday’s attack, which led to the death of five persons, as a targeted action but promised that the masterminds will be fished out.

Owoseni said this on Thursday during an interview on Channels Television’s The Morning Brief.

“From the way the incident happened, you would know, everyone in the security will know that this was a targeted action, targeted in the sense that they know the target of the people they want to attack and they went for it.

“They must have done their homework very well because those fellows were met sleeping in that office.”

The incident happened at the National Park Service in Oloka, Orire Local Government Area, leading to the death of some officials working in the organisation.

READ ALSO: Three Suspects Arrested For Alleged Arson On Traditional Worshipper’s House In Kwara

Owoseni said the incident is “a one-off thing”.

“I want to say categorically is a one-off thing what has been happening is that we are close to Kwara but what has not happened is far more than what has happened,” the aide said.

According to him, Oyo State has taken proactive measures within that axis to secure lives and properties.

“We just need to rework our strategy in a way that we get an all inclusive effort to put together because the forest guards are as well,” he said.

“That’s why probably most of the state governors have been calling for devolving some of the security powers to the state governors because we have a forest guard that is manning that old Oyo park which stretches from Oyo state up to Niger State,” he said.

The Commissioner Of Police, Lagos State, Olohundare Jimoh, says that the rape and murder allegations made against Pastor Chris Okafor will be investigated.

Jimoh said this on Thursday during an interview on Channels Television’s The Morning Brief, noting that the allegations of multiple rape and murder cases were gotten on social media.

“We are going to ensure that all the cases reported against him, even if it is on social media, are investigated,” the police CP said about the claims against the founder of the Mountain Liberation and Miracle Ministry.

“I directed the Deputy Commissioner of Police investigation in the Command in charge of Crime Investigation Department (CID), Panti, to get the pastor invited and he refused to honour the police invitation to answer to all those charges.”

READ ALSO: [Paternity Claims] Pastor Chris Okafor Demands Retraction, Threatens Legal Action

The commissioner said there is a petition filed with the assistant Inspector General of Police in Zone 2 against the cleric.

“When the Pastor refused to turn up on Sunday, his lawyer got across to the CID and said they were going to present him on Monday. We waited throughout Monday, and when we didn’t see him. I said, ‘Go and get him, because for those offenses, you need no warrant of arrest for the offender’.”

He said, “It was in process we were contacted by the zonal that they have for about two to three weeks that has to do with the actress and they are looking into it.

“I still insisted that he should show up and that does not stop him from honoring the invitation so he honoured that invitation on Tuesday and statements were taken.”

The commissioner said, ‘Rape is a capital offense which might not necessarily means it is only punishable by death but can mean life imprisonment if found guilty.

“Depending on the discretion of the judge and the level of involvement first degree, second degree or manslaughter,” he said.

The Rivers chapter of the All Progressives Congress (APC) has described the ongoing political crisis in the state as an “ego war” rooted in political disagreements, insisting it is not driven by any single individual or external influence.

The party’s spokesperson, Darlington Nwauju, said this during an interview on Channels Television’s Politics Today on Thursday, while reacting to the impeachment proceedings initiated by the Rivers State House of Assembly against Governor Siminalayi Fubara and his deputy, Ngozi Odu.

Nwauju maintained that the lawmakers were exercising their constitutional powers and not acting at the behest of any political godfather.

“This is an ego war. It’s an ego battle, if you like. Whether Nigerians believe or imagine that there is a big hand outside the chambers interested in removing the governor, the fact remains that the State House of Assembly is empowered by the 1999 Constitution, as amended, to carry out checks and balances, oversight and investigations,” he said.

He added that disagreements among political actors were inevitable, noting that resolving such disputes often required “massaging of egos” rather than coercion.

READ ALSO: Impeachment Move Against Gov Fubara Not Tied To Wike — Rivers Assembly Lawmaker

‘Political Interests’

The APC spokesperson acknowledged that political interests were central to the crisis, stressing that such contests were a natural part of democratic politics.

“As far as stakeholding in rigorous politics is concerned, everybody who is a politician in Rivers State is interested in how the state is being run, who is sitting as governor, and who is contesting for what position. This is politics, for crying out loud,” he said.

He argued that the crisis was more about political disagreements than allegations of wrongdoing, adding that it would ultimately be resolved through political dialogue.

The spokesman also faulted the tension between the Assembly and the executive as “unnecessary banter”.

Impeachment Process

The Rivers State House of Assembly on Thursday initiated impeachment proceedings against Governor Fubara and his deputy over allegations of gross misconduct.

During plenary presided over by Speaker Martins Amaewhule, the Majority Leader, Major Jack, presented a notice of allegations against the governor in line with Section 188 of the 1999 Constitution.

The seven-count allegations include the demolition of the Assembly complex, extra-budgetary spending, withholding funds meant for the Assembly Service Commission, and alleged disobedience of a Supreme Court ruling on legislative financial autonomy.

Twenty-six lawmakers endorsed the notice, with the Speaker confirming that the governor would be formally notified within the constitutional timeframe.

In a separate motion, Deputy Leader Linda Stewart read allegations against Deputy Governor Odu, citing reckless spending, obstruction of legislative duties and the approval of budgets outside the recognised Assembly.

Reacting, the APC described the impeachment move as destabilising and unnecessary, urging lawmakers to halt the process to avoid political turmoil and developmental setbacks.

The lawmaker representing the Federal Capital Territory at the National Assembly, Senator Ireti Kingibe, has said she will throw her weight behind anyone who picks the presidential ticket of the African Democratic Congress (ADC).

READ ALSO: 2027: Wike Isn’t A Threat To Me Politically — Sen Ireti Kingibe

The lawmaker, who spoke on Channels Television’s Politics Today on Wednesday, described herself as a nationalist.

“I am a nationalist. The truth is that Peter Obi may be the candidate of the ADC in 2027; he may not be.

“I joined the ADC as an opposition to support the party and whoever the candidate is; if it’s Peter Obi, very well and good, we will work for him.

“If he is not, whoever it is, we will work for the person, too.

“Now, as you say, if the country chooses to vote for Bola Ahmed Tinubu, then so be it, then he will be the President. But I’ve always believed in the opposition; I don’t think a one-party state is the best thing for our democracy,” she added.

Kingibe said Nigerians were not doing well under the administration of President Tinubu, as they were not prospering as they were expected to.

According to her, Nigerians could do with a lot less tax.

She urged Tinubu to review how his policies were impacting the lives of the masses.

On the President’s claim that the sacrifices made by Nigerians would soon end, the senator said, “I don’t know if we are nearing the end.

“The truth is that there is bound to be some pain, but I think that certain things can be put in place to alleviate the discomfort for the people.”

She stated that his policies won’t work if they are circumvented.

Kingibe said that though the President’s intentions are good, implementation was a challenge.

‘LP Not Viable’

Meanwhile, the senator who recently defected to the ADC from the Labour Party said the LP, on whose platform she won the 2023 FCT senatorial election, is currently not a viable platform for seeking election in Nigeria.

According to her, the LP was factionalised, and, therefore, she could not be accused of jumping ship, saying “there are two Labour Party ships”.

She also dismissed the speculation that her political career is under threat by the Minister of the FCT, Nyesom Wike.

She said Wike had “no say” whether she would return to the Senate or not in the 2027 general elections.