Boxing legend Tyson Fury has announced his retirement from the sport, bringing an iconic career to an end following consecutive losses to undisputed heavyweight champion Oleksandr Usyk.

Speculation had been rife about Fury’s next move, with fans eagerly anticipating either a trilogy bout against Usyk or a long-awaited showdown with fellow Briton Anthony Joshua.

Instead, the ‘Gypsy King’ has chosen to bow out of the ring, leaving an indelible mark on the world of boxing.

“Hi everybody, I’m going to make this short and sweet,” Fury said in an Instagram video on Monday afternoon, addressing his millions of fans. 

“I’d like to announce my retirement from boxing. It’s been a blast. I’ve loved every single minute of it. I’m going to end with this: Dick Turpin wore a mask. God bless everybody, see you on the other side.”

His video caption read, “Thanks, it’s been a blast  thanks to everyone who helped out along the way! Happy new year . Jesus is king  now & forever.”

Fury’s first encounter with Usyk in May last year ended in heartbreak, as the Ukrainian powerhouse handed him his first professional loss via split decision, claiming undisputed heavyweight status.

In a December rematch, Fury fought valiantly but fell short again, this time losing by unanimous decision.

The defeats sparked widespread debate about Fury’s future, with many touting a blockbuster clash with Anthony Joshua as the natural next step.

Joshua himself expressed eagerness for the matchup, declaring on Sunday at The Ring Magazine Awards last week: “It has to happen this year.”

Despite the mounting anticipation, Fury has opted to step away from the sport he dominated for over a decade.

His decision caps a storied career marked by grit, charisma, and unforgettable moments inside and outside the ring, Eurosport reported on Monday.

[Punch]

The United States unveiled new export rules Monday on chips used for artificial intelligence, furthering efforts to make it tough for China and other rivals to access advanced technology in Joe Biden’s final days as president.

The restrictions build on curbs announced in 2023 on exporting certain AI chips to China, which the United States sees as a strategic competitor.

In recent years, Washington has expanded its efforts to curb exports of state-of-the-art chips to China, which can be used in AI and weapons systems, as Beijing’s tech advancements spark concern among policymakers.

“The US leads the world in AI now — both AI development and AI chip design — and it’s critical that we keep it that way,” Commerce Secretary Gina Raimondo told reporters. 

The new rules update controls on chips, requiring authorizations for exports, re-exports and in-country transfers — while also including a series of exceptions for countries considered friendly to the United States.

AI data centers meanwhile will need to comply with enhanced security parameters to be able to import chips.

But the latest move drew industry criticism and warnings that it would hurt US competitiveness.

Semiconductor Industry Association chief executive John Neuffer said: “We’re deeply disappointed that a policy shift of this magnitude and impact is being rushed out the door days before a presidential transition and without any meaningful input from industry.”

He added in a statement that the rule could cause “lasting damage to America’s economy and global competitiveness” by ceding key markets to rivals.

Chip titan Nvidia said in a blog post that “while cloaked in the guise of an ‘anti-China’ measure, these rules would do nothing to enhance US security.”

– Trump decision? –

The rules make it “hard for our strategic competitors to use smuggling and remote access to evade our export control,” White House National Security Advisor Jake Sullivan said.

They also create “incentives for our friends and partners around the world to use trusted vendors for advanced AI,” he added.

The new rules will take effect in 120 days, Raimondo said, giving the incoming administration of President-elect Donald Trump time to potentially make changes.

In its blog post, Nvidia stressed that the first Trump administration showed how the United States “wins through innovation, competition and by sharing our technologies with the world — not by retreating behind a wall of government overreach.”

Trump put heavy tariffs on China during his first presidential term.

However, his backers in Silicon Valley could also see the rules as an undue burden on their ability to export products.

On Monday, Nvidia shares slid around three percent in early trading while Intel lost 1.6 percent and Advanced Micro Devices fell by about 0.8 percent.

For now, the Information Technology and Innovation Foundation (ITIF) said that pressuring countries to choose between Washington and Beijing could alienate partners and boost China’s position in the global AI ecosystem.

“Many countries may opt for the side offering them uninterrupted access to the AI technologies vital for their economic growth and digital futures,” said ITIF vice president Daniel Castro.

AFP

“Why sale of Port Harcourt Refinery to Dangote was cancelled by President Yar’Adua by Femi Falana” – VANGUARD, January 4, 2025

I never thought a situation would arise which would induce me to come to the defence of the Nigerian National Petroleum Corporation Limited, NNPCL. But, this page started with a pledge to adhere to the basic principles of journalism, which is facts are sacred; comments are free. We have tried to maintain that principle; despite the occasional emotional reactions of the officials who are carpeted on this page. Former President Obasanjo’s attack on the NNPC and late President Yar’Adua is one of those rare examples when NNPC must be defended.

First of all, my sincere appreciation goes to Femi Falana, SAN, whose rejoinder to OBJ in the VANGUARD, cited above, has partly exonerated the NNPCL.

Posterity will someday recognise Falana as one of the greatest lawyers of our era. He had, in that short piece, exposed the corruption behind the purported sale of the refinery to Dangote for $750 million. One does not need to be versed in law; neither is it necessary to have a great grasp of the English language to understand that what Obasanjo called a sale was in reality a scam.

“If I were to try to read, much less answer, all the attacks made on me, this shop might as well be closed for any other business”.

US President Abraham Lincoln, 1809-1865.

However, before going further, I must advise the Board and Management of the NNPCL to develop appropriate thick skin to criticisms. In a situation in which every decision affects various groups differently, for good or ill, it is out of question to expect losers to join the praise singing or for winners to see anything wrong with the decision. Invariably, there are very few neutral observers.

More to the point, it is difficult for me to understand why the current managers of the NNPCL felt called upon to publish rejoinders to Obasanjo’s outburst when most of it referred to decisions made long before any of them got into office. Two Presidents – Jonathan and Buhari – had the opportunity to revisit Yar Adua’s decision, which was most patriotic, and they did not reverse it. So, what has the current NNPCL managers got to do with it? They should simply have ignored Baba.

“Truth that’s told with bad intent/ Beats all the lies you can invent.” William Blake, 1757-1827.

NNPCL should have left OBJ to Falana and Dele Sobowale; who know a lot more about why the former president is still sore about the sale of the refinery.

As Falana pointed out, the former President co-opted the statutory functions of the Vice-President by giving the excuse that he wanted to eradicate corruption in the privatisation process. He did the same with the Petroleum Development Trust Fund, PDTF. Yet, a Senate ad hoc Committee, headed by Senator Daisy Danjuma had this to say about PDTF under Obasanio.

“I was shocked, disturbed at the extent of gross abuse of office, privileges and misapplication of public funds by both the President and Vice President…PDTF was paying for services outside its mandate.” PDP:

CORRUPTION INCORPORATED, P. 19S). Incidentally, page 197 of the book has information vital to a current case of defamation now trending. Somebody close to Obasanjo must be very careful. Reputation once considered rock solid is in jeopardy. Just as Obasanjo was intentionally hypocritical and used the office of Nuhu Ribadu, Chairman of the Economic and Financial Crimes Commission, EFCC, to cover his involvement in the controversial PDTF funds case he was not totally honest about why 51 % shares in two refineries were sold on May 17 and 28 respectively. Keen observers would notice that the second sale, on May 28, 2007, was made on Obasanjo’s last day in office when all the organs of government which should have been involved have shut down. Again as Falana rightly pointed out, the shares in the Port Harcourt refinery sold for $516 dollars were estimated to be worth $5 billion. It is baffling how anybody who disposed of public assets worth $5 billion for $516 million can still go around talking as if he was acting in the national interest. We all know what would have happened to such a man in China or Singapore!

SALE OF OIL BLOCK

“$2 billion oil block sold at $5 million”. The NATION, July 31, 2008.

The sub-head to the story said: “The DPR chief, Obasanjo directed sale”. The rest of the story read as follows: “The House of Representatives Ad Hoc Committee probing the oil sector heard yesterday how a $2.28 billion [then, N296.4 billion; now N3.476 trillion] was sold to a Chinese firm for $5 million by some workers of the Directorate of Petroleum Resources, DPR”

Further, one Tony Chukwueke, a Director of the DPR, said the “block was awarded on the directive of former President Olusegun Obasanjo.” The full disclosure about this deal is available on pages 290 to 292 of PDP: CORRUPTION INCORPORATED, which was published in 2011. The truth is, when Obasanjo took the unprecedented step of appointing himself Minister of Petroleum Resources, he claimed that the aim was to wipe out corruption in the sector. Probes by Ad Hoc Committees of the Senate and House of Representatives have proved beyond reasonable doubt that instead of eradicating corruption, Obasanjo encouraged it. Before you start thinking that another Dele is fishing in troubled waters, just read the book. It is available online. You will be amazed that a former official who has so many skeletons in the archives of the National Assembly, NASS, would still be pointing accusing fingers at a sector in which his government established a new template for corruption.

DELIBERATE NEGLECT OF TURN AROUND MAINTENANCE

“TAM contract awards: More sacrifices on the altar of greed.”

When Obasanjo decided on fuel subsidy removal and proposed to privatise the four refineries, his government released a document which made several revelations. Pages 283 to 288 of PDP: CORRUPTION INCORPORATED were based on a document titled REPORT OF THE SPECIAL COMMITTEE ON THE REVIEW OF PETROLEUM PRODUCTS SUPPLY AND DISTRIBUTION which was released by the Federal Government in October 2000.

 I must confess to receiving a copy plus briefing before other columnists from late Mr Tuni Oseni, the President’s Senior Special Adviser before it was widely distributed. Read my book; and you would be shocked at the depth of deliberate sabotage at the highest levels of government.

Because of space constraints, I will limit myself to only one issue – Turn Around Maintenance, TAM. The last TAM was in 1994 before 1999. TAMs were last carried out regularly under Babangida. Obasanjo undertook only one – which was not full – before deciding to privatise and sold one to his crony. The refineries were deliberately allowed to run down; they operated at about eighteen per cent of installed capacity; in order to provide the excuse for selling them as scrap to a benefactor. Read the truth and you will feel sorry for Nigeria for having such a leader at a critical point in our history.

I am a member of the foreign relations think tank, the Society for International Relations Awareness, SIRA. Its membership is made up primarily of retired ambassadors, Emeritus Professors, academics, former Permanent Secretaries, political scientists and lawyers. There is just a sprinkling of other professionals such as the military and trade unions. About four years ago, SIRA founding President, Professor Nuhu Omeiza Yaqub, former Vice Chancellor, University of Abuja, UNIABUJA and, later, Sokoto State University, called me. He wanted to visit me at home. I protested that it was I as one of his mentees that should visit him. He insisted on the visit. What he said shocked me. The elders of SIRA had consulted and had decided that I should be the next president of the organisation. I gave some reasons why I could not be SIRA President, including the fact that I had not even been a member of the Executive Board. Yaqub brushed aside my objections saying I had no choice in the matter. He added in his characteristic humour that since Nigeria is a democracy, I had the right to protest against my nomination at the convention.

He had no airs and was ever ready to assist people. In January 2024, I sent him an urgent text message. A group of us in Nigeria had decided to organise The International Lenin Centenary Conference to commemorate the January 21, 1924 passing of Vladimir Lenin, the man who led the first Socialist Revolution in the world. I asked if despite the very short notice of a few weeks, he could present the Keynote Address. Within hours, he sent me theme of his presentation: “Labour Aristocracy and the Denouement of Democratic Politics in Nigeria: Marxism-Leninism to the Rescue.”

Some months later, SIRA decided to organise an International Conference for the Eradication of Colonialism on Earth. The theme was: “The Forgotten Peoples: International Conference to Decolonize the World.” We zeroed in on Professor Ibrahim Gambari, last Chair, UN Special Committee Against Apartheid and former UN Special Envoy to Cyprus, Zimbabwe and Myanmar. To secure the consent of the quite busy international envoy, Prof Yaqub led a delegation to Prof Gambari. 

Prof was a very active advocate of various causes, including those for the total independence of Western Sahara and, the lifting of the six-decade embargo against Cuba by the United States. I recall that in 2019, the Nigerian Movement of Solidarity with Cuba had a public campaign for Cuba in the Nasarawa State University, Keffi. Prof drove there to express his solidarity. He just could not stand by and watch people suffer.

In 1992, a young public servant, Olusola Magbadelo, based on the perspective of the ‘Home-grown Democratization Theory’ presented a paper on the Transition Programme of the Babangida regime. It was at the International Political Science Association Conference. He got jeers and condemnation, left the hall head bowed with a sense of dejection.

It was in that state of despair, someone approached him outside the hall, commended him for the bravery he displayed and enquired why he was not in a doctoral programme. That was how he met Yaqub.

“In 2024, that is 15 years after he had left UNIABUJA, a professor pasted on the Professors WhatsApp page, a photograph he took with Yaqub; what followed was an avalanche of testimonies highlighting his humanness, commitment to merit, mentorship and sense of social justice”

Magbadelo told him that he was shortlisted for the 1994/1995 Commonwealth scholarship to support his PhD programme in Canada. Yaqub advised him to start the doctoral programme locally while awaiting the Commonwealth scholarship. Yaqub who was then the Head of Political Science, Usmanu Danfodiyo University, Sokoto, obtained the institution’s postgraduate form and sent it to Magbadelo. The latter was admitted into Danfodio in 1994. Shortly afterwards, the Commonwealth Scholarship programme for Nigerian scholars was cancelled as Canada pulled out of Nigeria in protest against the annulment of the June 12, 1993 presidential election and, the 1995 execution of environmentalist, Ken Saro-Wiwa. So, Yaqub’s advice and action turned out to be providential. As his main supervisor, he helped Magbadelo secure the research grant to support his comparative study of the democratisation processes in Nigeria and South Korea. When the latter’s workload in the civil service from 1998 made him to abandon the PhD programme, Yaqub, whenever he was in Abuja, ensured he met Magbadelo to pressure him to resume his PhD programme. When he eventually did, Yaqub and his family hosted his student whenever he was in Sokoto and arranged accommodation for him in the University Guest House. These acts enabled Magbadelo to complete his Political Science doctoral programme in 2001.  

When Yaqub was UNIABUJA Vice Chancellor, Professors Ohaire and Aliyu Hussaini who were travelling to attend the College of Education, Okene, convocation ceremony, died in a motor accident. Yaqub did not only ensure befitting funeral rites, but also offered jobs to the families of the academics.

In 2024, that is 15 years after he had left UNIABUJA, a professor pasted on the Professors WhatsApp page, a photograph he took with Yaqub. What followed was an avalanche of testimonies highlighting his humanness, commitment to merit, mentorship and sense of social justice.

On Monday, December 2, 2024 I was with Yaqub at the 70th Birthday programme of Professor Jibrin ‘Jibo’ Ibrahim. We agreed to meet to update ourselves on events. He was also active in at least three other programmes leading to the New Year. So, nothing prepared me for the shock on Saturday, January 4, 2025 that he had marched on.

At his January 11, 2024 Fidau prayer, the crowds gathered. The diplomats included the 74th United Nations General Assembly President, Tijjani Muhammad- Bande; Cuban Ambassador Miriam Morales Palmero and Western Sahara First Secretary Hamahu-Allah Mohamed. The political class included former Education Minister, Professor Tunde Adeniran, former Niger State Governor Babangida Aliyu and two Commissioners representing Kogi State Governor Usman Ododo. Also present was prolific author, Dr Buka Usman and trade unionists Chris Uyot, Hauwa Mustapha and Denja Yaqub. Civil Society leaders included Mma Odi. The Amilcar Cabral Ideological School sent a three-person delegation. Academics expectedly thronged the venue. They included Professors Adele Jinadu, Bolade Eyinla and Jibrin Ibrahim. The SIRA family included Professor Warisu Alli and Rear Admiral Anthony Isa, who gave the vote of thanks.

Professor Abubakar Suleiman, Director General of the National Institute of Legislative and Democratic Studies, said Yaqub had so much humility that even when he wanted to minute to a messenger, he would begin with the word ‘Please’.

In response to the messages of appreciation heaped on him by UNIABUJA professors, Professor Yaqub had responded in October, 2024: “My obsession in this earthly world is to beseech God not to allow me to fall below the high estimation that each of THESE MY COLLEAGUES have bestowed upon me. God, kindly allow me to come back to You in the Hereafter in this blaze of integrity and performance quotients that my colleagues have heaped on me.”

Nollywood actor Adeniyi Johnson has shared the emotional journey of waiting a decade to welcome his first children, a set of twins, with his wife, Oluwaseyi Edun.

In a recent interview with fellow actor Kunle Afod, the 46-year-old revealed that his journey to fatherhood spanned two marriages. He explained that he waited three years for a child during his previous marriage before the relationship ended. 

Adeniyi began dating Oluwaseyi in 2016 and the couple tied the knot in 2018. Together, they spent seven years praying and engaging in religious activities while holding onto hope for a child. 

Their perseverance was rewarded in February 2023 when they welcomed their twins.

Reflecting on the experience, Adeniyi credited his faith and patience for helping him through the challenging period, adding that the long wait made the eventual blessing even more meaningful. 

“The vigil was much. But we thank God that what one has been crying over God turned it into joy. It is a cry of 10 years. I waited for 10 years. Myself and the mother of the twins have been seeking God’s face for a child for seven years. And when it came, God said he wanted to gift me with twins. What do I do?” he said.

“Whenever I am at home, and I see them climbing on top of me, I am always very happy. I would say thank you, God. Other people buy diapers for one child for us we buy two. We bless God for provision. They also eat well.

“We did not allow age to tell on us. And we thank God we do not look like what we have passed through.”

[Vanguard]

An inquest into the 2018 helicopter crash that killed the owner of Leicester City Football Club opened on Monday.

Vichai Srivaddhanaprabha and four others were killed when the Thai billionaire’s personal helicopter crashed shortly after taking off from the Premier League club’s King Power Stadium following a match in October 2018.

Catherine Mason, the coroner presiding over the hearing, told the jury that under English law the role of an inquest is simply to determine the facts over how someone died rather than make rulings on individual guilt or innocence.

“An inquest hears evidence so the jury can make findings of fact and come to a conclusion about the deaths,” said Mason, sitting at Leicester City Hall. “Nobody is on trial here.

“An inquest does not decide matters of criminal or civil liability,” added Mason, who also said the hearing was expected to last for between two and three weeks.

In a tribute read to the court by the lawyer for the family of Srivaddhanaprabha, he was described as “a good man with a good heart”.

The family statement also paid tribute to his role in reviving Leicester’s fortunes and bankrolling their shock Premier League title triumph in 2016 after the Midlands club were 5,000/1 rank outsiders to be crowned champions of England at the start of that season.

“Khun Vichai had a vision to the put the club in the Premier League. He wanted to build the club up, not just run it.

“With his support and commitment the team won the Premier League in 2016 — in only their second year in the division.

“We miss him every day. The pain his death caused and continues to cause our family is immeasurable.”

In a separate development, the family announced last week they had launched a £2.15 billion ($2.63 billion) legal action against the manufacturers of the helicopter, in what is reported to be the largest fatal accident claim in English history.

AFP

The National Education Loan Fund (NELFUND) television advert never fails to amuse me. Every time it appears on screen, I turn to my wife, also a marketing communicator, and ask: who exactly is NELFUND trying to reach with this type of TVC (as we say in advertising)?

The other day, however, I decided to watch the advert to the very end, only to discover that it was the National Orientation Agency (NOA) that produced the campaign for NELFUND.

Every advertising campaign is driven by its target audience dynamics, that is, the makeup of the market to which the product or service will be sold. This is why a thorough target audience analysis is usually conducted before embarking on such campaigns. The audience demographics—age, sex, income, population, location, etc.—are carefully considered. Their psychographics, such as lifestyle, attitudes, beliefs, and values, are also tracked to ensure alignment with the essence of the product or service being marketed.

These factors would then determine the copy (language), models, locations, and other elements used to capture the attention of the intended audience.

In the light of this background, one begins to wonder whether the NOA took the time to study NELFUND’s target audience before producing the television cartoon currently running on major national television networks.

The last I checked, NELFUND is a national loan scheme introduced by President Bola Tinubu to make higher education accessible to indigent students who ordinarily may not be able to afford it. This means the scheme targets potential and current higher education students aged 16–18 years and above – young adults on the verge of entering tertiary institutions or already enrolled.

Communicating such an important credit facility through a “Tom and Jerry”-style animated cartoon advert is inappropriate.

NELFUND is a serious financial product that requires clear and unambiguous communication. Animated cartoons are typically designed to entertain children or aid their cognitive development. While some adults may occasionally watch them for amusement, this alone is insufficient justification to use such a medium to communicate a life-changing facility to young adults.

Financial institutions that use animated cartoons, caricatures, or emojis in their campaigns typically do so as part of secondary or subordinate campaigns, reinforcing a major primary message.

The NOA would do well to use relatable models who resemble young students to create a public awareness campaign that resonates with the target audience.

The campaign should also extend to remote areas of the country, where poor but brilliant students abound.

President Tinubu’s intention is to ensure that no youth’s academic potential should be truncated due to financial incapacity. This vision underpins the introduction of NELFUND, and the NOA has a critical role in realizing this objective.

Nwosu PhD writes from Awka.

‘Whatever will be, will be’, translated in Latin as “Que Sera, Sera”, was the response I got from a friend when I asked him over lunch if he possibly thinks that with the current economic growth rate, Nigeria can attain the status of a trillion dollar economy by 2030. A colloquial I know sounds very familiar and has assumed a very popular form of sloganeering, depicting that the future is in the air and fate determines the outcome of a course of events. While this phrase may often come in handy and be correct in some instances and could be a helpful attitude to ease anxiety, the same cannot be adopted for a nation’s economy as no economy is guaranteed to grow unless certain factors are dispassionately implemented.

Certain factors determine the kind of economy countries have. One of such factors is the expenditures profile of the government. Nothing is left to chance in the economic transformative processes of a nation. Data and stats play critical roles and financial and economic experts go in the direction they take them, just in the same way DNA evidence does in forensic crime investigations – I understand crime investigators would typically go anywhere DNA evidence leads them even if other evidence may be pointing in a different direction.

Achieving profound economic growth requires conscientious and intentional planning. Talking about planning and the economic projections for the next five years, one would wonder, going by the stats analysed in the 2025 Appropriation Bill dubbed “The Restoration Budget: Securing Peace, Rebuilding Prosperity” and presented to the NASS by President Tinubu last month, if the kind of total expenditure earmarked in this bill would guarantee the GDP threshold of $1 trillion promised by this administration by 2030. Are we truly on track to achieve this phenomenal feat in five years?

With an average growth rate of 3.2 percent in 2024, the economic growth is indisputably very slow and the government needs to expand the economy by increasing spending exponentially. There is a direct correlation between the annual total spending of a government and economic growth. Many had hoped that there would be a dramatic shift to substantially increase the government’s 2025 total expenditure to spur productivity and aggregate demand, create job opportunities, make massive investments in infrastructure in key sectors and improve the quality of life of Nigerians.

The size of the 2025 budget relative to the size of our population has come under attack. It highlights the disappointment of many wishing that the total spending would be considerably higher but definitely not to fund corruption. A surfeit of experts have described it as too meagre to service a population as large as ours – estimated by IMF to be 233 million. Nonetheless, the hallmark of the 2025 Appropriation Bill is the conspicuous absence of any funds allocated to fuel subsidy. This has loomed large over the economy of this nation. The response to its non-inclusion has been meteoric and sensational – rightly so. The removal of the fuel subsidy is a long time coming and it will assuredly have enduring economic effects well into the future for the country.

However, it is as if the makeup of the 2025 national budget proposal has taken a surprising new twist with debt servicing replacing the fuel subsidy. It can be safely assumed that the $6-10 billion characteristically allocated to this expense line over the years has been repackaged as debt servicing – 15.8 trillion naira ($10 billion). While the 2025 Appropriation Bill of 49.7 trillion naira is 42 percent higher than the 2024 Appropriation Act of 35 trillion naira, it is way smaller in absolute terms due to the massive devaluation of the naira.

Unfortunately, Nigeria would continue to reel from naira devaluation because of her debt burden notably from our foreign exposures. A deficit financing of 13 trillion naira occasioned by the ridiculously low revenue profile of the nation is extremely worrisome. Implications are that the debt servicing for 2026 will likely increase. The reversal would however continue to be elusive if the nation’s revenue profile isn’t stepped up to appreciably stem deficit spending and stop the reliance on loans.

To fix this, rebuild fiscal space and create macroeconomic stability, there may be an urgent need to restructure the country’s debt portfolio. There are reports that Nigeria is being ripped off with high fees as the interest rates by international creditors on loans availed to the country are one of the highest globally. An urgent need to renegotiate the terms of most of our exposures is extremely desirable. Furthermore, there should be a lot of debates and discussions around how to boost the state of our government and eke out an economic win that would serve the overall interests of the people.

Equally, it is imperative to reset budgetary conversations and develop decent revenue sources pretty fast especially from non-natural sources like taxes and levies. Imagine if the nation’s tax-to-GDP ratio moves northwards from around 10 percent to 25 percent with effective tax administration and laws, a sum of $50 billion (80 trillion naira) would accrue to the federation account just from taxes alone, with the current size of our economy.

The red tape must be cut to engender economic prosperity and development and curb waste and fraud. This is essential to achieve any meaningful success with the implementation of this and subsequent national budgets. Even though it is shy of expectations, it is expected that this Appropriation Bill would benefit all Nigerians regardless of ethnic or political inclination and serve as a gateway to connect with the people for the attainment of wide-ranging social needs and address the public safety crisis in many parts of the country.

It is an unsettling time for most Nigerians as far as the economy is concerned as little could prepare many folks for the affordability crisis they have been subjected to over the course of a dozen and half months. Many folks, impoverished, helpless and living from paycheck to paycheck, have a grim task of processing what has befallen them financially but know surviving in present-day Nigeria would take a little more elbow grease.

The government and economic handlers must therefore develop a personal relationship or feeling for the people much more than the political relationship which seems to currently exit. That is the way to have compassion and feel the heartbeats of the struggling and vulnerable Nigerians. The heartbeats of several folks pang of hunger, deprivation, poverty, inability to pay school fees and house rents, etc. Nigerians seeking full accountability for every penny appropriated should therefore not be viewed as asking for too much.

It is almost certain that attaining $1 trillion by 2030 is impracticable with our economy put by IMF at $194.96 billion in 2024 due to the monumental naira devaluation, because to achieve that, Nigeria would have to grow at 38 percent annually for the next five years from the 3.2 percent growth rate accomplished in 2024. Well, it is left to be seen what to expect based on the size of the nation’s economy with the planned rebasing exercise. Nevertheless, she can improve her economic status if she can truly diversify her economy from oil and gas to non-oil sectors like SMEs, real sector to grow productivity, agriculture, etc.

The country’s domestic production capacity is next to nothing as we sparsely produce anything of substantial value for the global markets. We cannot continue to rely on imported goods and expect to achieve a $1 trillion economy by 2030. It is time for the country to be a “creator and not just a consumer” by producing valuable goods that will satisfy not just the domestic market but serve the international markets as well.

Additionally, there is an urgent need to incentivise and attract massive capital to the country, the likes of which were seen at the onset of the Fourth Republic where Nigeria was the preferred destination of FDIs in Africa and I believe this administration can leverage on the transactional style of leadership of Donald Trump to foster deals that will usher in substantial capital inflows into the country.

However, the insecurity ravaging many parts of the country needs to be curtailed to boost investors’ confidence, which is needed to attract capital and stimulate the economy. Over the years, insecurity has been an economic malaise that has diminished investments, especially from foreign investors, causing a spike in the rate of unemployment and resulting in several social issues that the government is still grappling with. The government must provide a safe and secure environment to prompt capital development and provision of social investments necessary to serve as a catalyst for economic growth.

In conclusion, while I admire the optimism on display by President Tinubu in his media chat on December 23, 2024, I sincerely hope the performance of this budget will be topmost on his agenda using the power of his presidential pen to get things done and ensure transparency and accountability. Amid the biting but desirable economic policies, a bundle of economic plans likely planned for 2025 by this administration and the recent uptick in the foreign reserves, the country risks losing all the benefits designed to accrue if the efficiency of government at national and sub-national levels does not feature prominently on the front burner.

President Tinubu must be prepared to move mountains to decimate the hydra-headed monsters – corruption, waste, frauds, inefficiencies, and the reported shoddy implementation of past national budgets denting our national pride and honour.

Ande, a financial and political economy analyst, writes from Lagos and can be reached via This email address is being protected from spambots. You need JavaScript enabled to view it.

There was a mild drama at Our Saviour’s Church, Tafawa Balewa Square, Lagos on Wednesday, January 8, when the presiding cleric veered off from his sermon to address business magnate, Aliko Dangote, who was seated in the front row with other dignitaries directly. Speaking off the cuff, the vicar pleaded with Dangote not to abandon Nigeria at these very challenging times.

“I want to address our brother, Alhaji Aliko Dangote, who is here with us… and to plead with him to go back on whatever good plans he has about Nigeria. Sir, that investment in steel you have been thinking about, please, don’t abandon the idea. Nigeria is counting on you. Your investments are not for this generation alone. Don’t abandon the country,” the vicar & archdeacon of Ikoyi parish of the church, the venerable Folorunso Oreoluwas Agbelusi, pleaded.

The congregation was stunned by the cleric’s unexpected remarks, with some applauding, while others looked on with apparent amazement. The import of the cleric’s impassioned entreaties were not lost on the audience, among whom were governor of Lagos state, Babajide Sanwo-Olu; governor of Ogun state, Dapo Abiodun; chairman of Zenith Bank, Jim Ovia; former CBN governor, Joseph Sanusi; bankers and other dignitaries. Dangote himself, looking visibly stunned, nodded gently and managed a smile as the vicar made his case.

The event was a thanksgiving service to celebrate the 90th birthday of elder statesman and culture icon, Frank Abiodun Aig-Imoukhuede which fell on that same day. Dangote is a close family friend of the Aig-Imoukhuede’s and is always available at the family’s events, including church service, although he is a devout Muslim. In August 2021, the business mogul was also at the same church during the funeral service of late Pastor (Mrs) Emily Aig-Imoukhuede, the departed wife of the nonagenarian we were honouring on Wednesday.

Aliko Dangote had previously announced that he would no longer proceed with his plans to invest in the building of a steel plant in Nigeria because of the frustrations he suffered in the hands of government officials while trying to get his $20 billion refinery and petrochemical complex to commence production. While conducting journalists around the complex last June, he spoke of roadblocks mounted by different government agencies to cripple the business, indicating that the cabals in Nigeria’s oil industry are more powerful than the drug cartels of Mexico and Colombia.

He told the visiting journalists (I was among them) that he regretted going into the refinery business and that he was holding back on his planned investment in steel development since the country didn’t seem to appreciate his efforts. Dangote was specifically miffed by the decision of government’s regulatory agencies to push for fuel importation despite his refinery’s capacity to meet domestic consumptions with excess for export. It has the capacity to refine 640,000 barrels of crude oil per day, although the NNPC cannot provide that much due to massive oil theft and other issues.

The visiting reporters and media executives were stunned by Dangote’s revelations and many, including this writer, asked him not to be daunted by his ugly experiences. In the weeks that followed the media tour, journalists rose in unison in their commentaries and editorials to condemn corrupt government officials for their selfishness, greed and lack of patriotism in insisting on importation. Since then the federal government has made some efforts to ameliorate Dangote’s misgivings; these include crude oil sale in Naira to local refiners and discontinuation of the push for importation of fuel.

It is not clear if the business tycoon was sufficiently persuaded by Vicar Agbelusi’s appeals to change his mind. But one thing is clear: this nation needs more of Dangote’s unquantifiable business acumen and patriotic zeal. I just wish that others will step up to be counted. The cleric’s comments also reflect a deep sense of helplessness amongst Nigerians that the government has failed in its basic duties and that only the likes of Aliko Dangote can salvage the situation. I commend Vicar Agbelusi for his sense of purpose. This is why I like these so-called Orthodox churches. Their leaders have a deeper understanding of their purpose, and Aliko Dangote is fast becoming our national prayer point.

The stunted development of Nigeria’s steel industry as exemplified in the moribund Ajaokuta steel complex which has been abandoned since the 1980s is one of the reason the nation’s industrial base has not grown. Steel is a major input in industrial production, required in construction, infrastructure, buildings, manufacture of tools; ships; trains; cars, etc. Nigeria imports $4 billion worth of steel every year, according to Minister of Steel, Shauibu Audu who spoke at National Metallurgical Development Center, Jos.

“The president wants us to reverse this trend; he wants to ensure that most of the steel consumed in Nigeria is produced locally to reduce pressure on foreign exchange,” the minister said in a typical Nigerian official rhetoric and “sweet mouth”.

A gospel singer identified as Timileyin Ajayi has been arrested after he was allegedly caught with the severed head of his girlfriend in Nasarawa.

The incident occurred on Sunday in Agwan Sarki, Orozo, near the Federal Capital Territory (FCT).

The suspect’s arrest was facilitated by an intelligence tip-off, leading security agents to an uncompleted building in the area. The severed head was found in a polythene bag.

During interrogation, Ajayi, who also poses as a motivational speaker on TikTok, confessed to the crime.

In a now-viral video, he revealed that he had dated Salome Adaidu for one year before her death. In his defense, he claimed they engaged in a heated fight, and she tried to stab him with a knife.

Ajayi, who released his album ‘God of the Earth’ in 2020, also revealed that the rest of the victim’s body was at his residence.

A man who identifies himself as Caleb Umaru, a member of the Nasarawa community, also spoke about the incident via a Facebook post.

“I got the shock of my life as we apprehend a Yahoo ritual with a human head (his girlfriend) inside a nylon close to our church as we were holding service,” he wrote.

“I thought I just used to watch things like this until I experienced one “Live” today.

“And this guy said the remaining body of the girl is still in his house. God have mercy on this generation.”

Efforts by TheCable Lifestyle to reach Nansel Ramhan, the Nasarawa police command spokesperson, for details have proved abortive.

[TheCable]