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Peter Obi: ‘ADC Is Putting Us Our Toes But The Numbers Are Not Looking Good For Them’ – Keyamo

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Peter Obi: ‘ADC Is Putting Us Our Toes But The Numbers Are Not Looking Good For Them’ – Keyamo

The African Democratic Congress (ADC) is challenging the All Progressives Congress (APC), however Festus Keyamo, Minister of Aviation and Aerospace Development, acknowledged that the ADC will not win much of the 2027 election.
According to reports, Keyamo stated this in an interview on Channels Television’s Sunday Politics program, when he also criticized Peter Obi, the former governor of Anambra State, for not being able to reach the north and win votes like Bola Tinubu, the current president.
Keyamo stated that Tinubu and his party, the All Progressives Congress (APC), have established political structures in the north, unlike the ADC.

While listing the three factors he felt worked in favour of Peter Obi in 2023, Keyamo noted that the attempt to make the Labour Party (LP) 2023 presidential candidate a deputy to former Vice President, Atiku Abubakar, would collapse the factors.

He said, “They are going nowhere in terms of demography.

“I like what is happening; they are putting us on our toes; it is going to make us work harder, but the numbers are not looking good for them.

“This so-called ADC, in 2027, what they are working on is to bring Peter Obi and Atiku (Abubakar) together to join those numbers and beat our over eight million votes.

“Let me tell you why it is wrong. If you make Peter Obi the deputy to Atiku, three demographic factors delivered Peter Obi in 2023, but the three will collapse.

“The other candidates were Muslims, and so there was only one Christian candidate, and the Christians went to one candidate.

“The South-East felt cheated, so the South-East went to one point because of the Igbo man.

“And the third demography: the Obidients, young Nigerians who felt they were angry, they wanted a younger person and all of that because the other candidates were older than him (Obi).

“If you put Peter Obi this time as president, he cannot penetrate the north. We have our structures in the north. We have governors and our structures in the north.”

Stop the Talk, Fund the Programmes – Falana Tells Tinubu to Back Words with N5 Trillion for Social Investment

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Stop the Talk, Fund the Programmes – Falana Tells Tinubu to Back Words with N5 Trillion for Social Investment

Femi Falana, a well-known human rights attorney, has urged President Bola Tinubu to increase funding for the National Social Investment Programs in order to reduce poverty in Nigeria.
Falana said in a statement on Sunday that the federal government’s funding for projects that might not directly affect residents’ well-being is far greater than the amount the government spends on meeting the social requirements of the populace.
According to reports, the lawyer’s remarks came as President Tinubu recently advised governors elected on the platform of the All Progressives Congress (APC) to make sure they put in a lot of effort to bring about development at the local level.
He warned that Nigerians were dissatisfied with the pace of governance and the tangible benefits of democracy.

Speaking at the 14th National Executive Committee (NEC) meeting of the APC at the State House Centre, he called on the governors to “wet the grass more” for greater impact in communities across Nigeria.

However, Falana submitted that President Tinubu needs to do more than just issue instructions to the Governors. He called on the federal government to instead demonstrate leadership by fully funding existing welfare programmes.

“Instead of begging state governments to ‘wet ground more’, President Bola Tinubu is urged to ensure that the National Social Investment Programme Agency Act is adopted and enacted into law by the 36 state governments,” he stated.

The senior lawyer stressed that rather than allocating billions for state house renovations, governments at all levels should focus on implementing impactful social policies to alleviate suffering among the masses.

He criticized the allocation of ₦32.7 billion to the National Social Investment Programme (NSIP) in 2025, which is expected to cater for more than 100 million people, while ₦39 billion was reportedly spent on the renovation of the International Conference Centre in Abuja.

“A government that recently claimed to have spent the sum of ₦39 billion for the renovation of the International Conference Centre at Abuja at the Federal Capital Territory cannot justify the allocation of ₦32.7 billion to fund the National Social Investment Programmes for 2025 to support the 133 million people that are said to be multi-dimensionally poor in the country,” he argued.

He questioned the credibility of a system where lawmakers receive massive monthly emoluments—₦21 million for senators and ₦15 million for members of the House of Representatives—while key social programmes are grossly underfunded.

Citing the recent approval of ₦3.5 trillion by the Federal Executive Council for roads, airports, and other infrastructure, Falana submitted that not less than ₦5 trillion must be allocated to the National Social Investment Programme if the government is serious about making the benefits trickle down to the grassroots.

“Therefore, the Federal Executive Council should, as a matter of urgency, approve not less than ₦5 trillion to fund the National Social Investment Programme,” he said.

He added that the management of such a fund should not be left solely in the hands of government officials, but should involve elected representatives of trade unions and credible civil society organisations to ensure transparency and effectiveness.

REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES “ABDUCTION” CLAIMS AS FICTION

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REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES “ABDUCTION” CLAIMS AS FICTION

Bayo Ojulari.
Contrary to the sensational and wildly inaccurate report by Peoples Gazette alleging that the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, was “abducted and forced to resign” by security officials, we categorically state that the story is nothing more than a poorly scripted work of fiction, better suited for a Nollywood thriller than credible journalism.

Unlike the Gazette’s dramatic tale of midnight kidnappings and shadowy coups, Mr. Ojulari voluntarily tendered his resignation after due consultations with higher authorities in Abuja. His decision followed the recent official trip to Kigali for an oil and gas conference—a legitimate business engagement aimed at advancing Nigeria’s energy sector interests.

“I was neither arrested nor strong-armed into resigning,” Mr. Ojulari clarified with amusement. “In fact, the only ‘pressure’ I faced was from my own conscience and commitment to accountability after the unnecessary controversy stirred around the Kigali trip. My resignation was a personal decision, submitted through the appropriate channels—not at gunpoint in some spy movie scenario.”

The report’s claim that EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi orchestrated an illegal “coup” to remove him is not only baseless but laughable. “If I were to be ‘forced out,’ it certainly wouldn’t be in silence—I’d have at least negotiated for a better headline!” Ojulari joked.

As for the bizarre insinuations about British-Nigerian businesswoman Olatimbo Ayinde, Mr. Ojulari maintains that he has no personal or professional dealings with her and finds it curious that her name keeps appearing in unrelated matters. “I’ve spent decades in the oil and gas industry, building a reputation on transparency and expertise—not gossip columns,” he stated firmly.

While Peoples Gazette may thrive on conspiracy theories and clickbait, the truth remains simple: Mr. Ojulari resigned honorably, the NNPCL continues its operations uninterrupted, and Nigeria’s energy sector remains focused on progress—not palace intrigue.

We urge the public to disregard this fictional account and instead rely on verified statements from official channels. After all, in the words of Mr. Ojulari: “If I were going to stage a dramatic exit, I’d at least make sure it came with a soundtrack and better lighting.”

UKWONYO WARD APC APPRECIATE CHIEF HON.DR. PHILIP AGBESE FOR THE BURIAL CEREMONY OF LATE PASTOR, ASI, EMMANUEL A. UGWU

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UKWONYO WARD APC APPRECIATE CHIEF HON.DR. PHILIP AGBESE FOR THE BURIAL CEREMONY OF LATE PASTOR, ASI, EMMANUEL A. UGWU

The entire Ukwonyo Ward excos, Stakeholders and members of Okanga Sisters Worldwide in Ukwonyo Ward chapter appreciate the financial donation from Chief Hon.Philip Agbese to
Mrs.Patricia Eve Ogbu who buried her Twin Brother yesterday at Okonoji Ukwonyo Utonkon yesterday.
We thank Chief Phillip Agbese for always showing love and care to his constituents when there are in Needs.
We equally thank Hon. Lady Kate Ijogi, Ukwonyo APC Excos, Members and other stakeholders who contributed in cash and kind to assist our Okanga Sisters Worldwide in Ukwonyo Ward chapter Secretary Mrs. Eve Ogbu.
Thanks and God Bless you All.
Sign:
Hon.Emma Idah.
Ukwonyo Ward APC chairman and Chairman of All APC Ward Chairmen in Ado LGA.

MTN Nigeria Bounces Back with N414.9 Billion Profit in Q1 2025

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MTN Nigeria Bounces Back with N414.9 Billion Profit in Q1 2025

In the first half of 2025, MTN Nigeria reported a net profit of N414.9 billion, a strong and dramatic turnaround from the N519.1 billion loss in the same period the previous year.

According to Karl Toriola, CEO of MTN Nigeria, “the macroeconomic conditions in Nigeria showed notable improvements (six months to June 30), including a relatively stable naira, improved foreign exchange (forex) liquidity, and easing inflationary pressures.”

This comes after recent economic volatility that caused many South African businesses to lose money, especially from their activities in Nigeria.

Building on the first quarter’s momentum, we achieved robust service revenue growth, up 56% year over year. Proactive customer value management, robust demand, and pricing adjustments—primarily in the second quarter—were the key drivers of this. We increased network expenditure to increase capacity in order to reinforce this,” he stated at Thursday’s interim results announcement.

He claimed that in order to hasten the company’s return to profitability, efficiency initiatives were still being carried out.

The group is “firmly on track to restore our balance sheet to a positive net asset position by the end of the third quarter,” he added, adding that the impressive first-half performance led to an improvement of the guidance for the 2025 full financial year.

An industry directive was put into effect on the regulatory front, limiting third-party agents to one SIM registration per client, with the exception of agencies designated as strategic partners. The quality of SIM registrations would be improved, which would benefit the industry’s overall growth even though it would momentarily decrease the growth rate of gross connections.

Read Also: 2026 Ekiti Guber: APC Releases Election Schedule, Nomination Form Pegged at N50m

Although the new SIM registration rules that were implemented in the first quarter had an influence, the number of mobile users increased to 84.7 million, with a net addition of 3.8 million in the first half.

The number of active data users increased by 3.3 million to about 51 million, contributing to a 41.2% annual rise in data traffic.

Voice and data package prices were gradually changed, with the second quarter mainly benefiting from the changes.

He stated, “It is pleasing to see that the demand for our services remained robust, supporting strong service revenue growth during the period.”

In July 2025, the first phase of the $240 million Dabengwa Tier 3 Data Center was opened. The multi-phase data center project will grow to be the biggest in West Africa.

The Nigerian Communications Commission (NCC) approved the group’s application for a national roaming contract with Emerging Markets Telecommunications Services (9Mobile).

In support of the NCC’s goal of expanding market inclusion and creating a fully connected Nigeria. We have started the process of onboarding mobile virtual network operators (MVNOs) to our network in this regard,” Tariola stated.

In the second quarter, almost 562 000 new users joined the fintech strategy, increasing the total number of active wallets to 2.7 million.

“By using our partner network, we have drawn in more high-value users, which has contributed to steady growth in customer deposits, which increased by almost five times by June 2025, compared to December 2024,” he stated.

Relative naira stability, the updated IHS tower lease arrangement, and advancements in efficiency projects all helped to lessen cost pressure. EBITDA, which stands for earnings before interest tax, depreciation, and amortization, increased by 119.5% to N1.2 trillion. At the end of December 2024, retained earnings were negative N607.5 billion; however, they improved to negative N192.9 billion.

“With the help of recent price adjustments, network investments, and a more stable macroeconomic and regulatory environment, we anticipate maintaining strong operational and financial growth momentum in the second half,” he stated.

2026 Ekiti Guber: APC Releases Election Schedule, Nomination Form Pegged at N50m

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2026 Ekiti Guber: APC Releases Election Schedule, Nomination Form Pegged at N50m

The All Progressives Congress (APC) has released the official timeline and program of operations for the 2026 governorship election in Ekiti State, including crucial dates and processes for hopefuls and party members.
The timetable, signed by Sulaiman Argungu, the party’s National Organising Secretary, and released on APC’s official 𝕏 Twitter on Friday, covers the timeline leading up to the governorship poll on Saturday, June 20, 2026.
The election process began on Friday, July 25, 2025, with the Notice of Election to the State Chapter, followed by the Update of Membership Register, which began on July 28, 2025 and ends on Friday, August 15, 2025.

The APC highlighted the fact that “only members whose names appear on the register and are up to date in paying their membership dues will be eligible to vote and be voted for.”

The sale of nomination and expression of interest forms for the governorship will begin on Monday, August 18 and end on Monday, September 2, 2025. Completed paperwork and delegation forms must be submitted by Thursday, September 11, 2025.

Screening, Delegates Congress, and Primaries
According to the release, aspirants will be screened between Tuesday, September 23, and Wednesday, September 24, 2025, with results being revealed on Friday, September 25, 2025.

Appeals against screening findings must be submitted by Saturday, September 26, 2025.

The Delegate Congress will take place on Thursday, October 2, 2025, followed by the Delegate Congress Appeal on Friday, October 3, 2025.

Read Also: Justice Adejumo Assumes Leadership at National Judicial Institute

The party’s gubernatorial primary election is slated for Monday, October 27, 2025, with appeals hearings taking place between Wednesday, October 29 and Thursday, October 30, 2025.

On Tuesday, October 28, 2025, a congress will convene to ratify the results of the gubernatorial primary election in accordance with the 2022 Election Act.

Read Also: Justice Adejumo Assumes Leadership at National Judicial Institute

Aspirants will be able to gather access codes for online form submissions beginning Monday, November 10, 2025, with the list of nominated candidates being presented to the National Working Committee (NWC) by Wednesday, January 7, 2026.

The final candidate list for posting to the INEC portal must be completed by Friday, January 16, 2026.

Campaign activities begin on Monday, April 6, 2026, with the grand finale scheduled for Thursday, June 18, 2026, two days before the election.

The cost of nomination forms
The APC estimated that governorship nomination forms would cost ₦50 million, including ₦10 million for the Expression of Interest form and ₦40 million for the Nomination Form.

Female aspirants and people with disabilities only need to pay for the Expression of Interest form; the Nomination Form will be provided for free.

Aspirants aged 25 to 40 will pay for the Expression of Interest form but receive a 50% discount on the Nomination Form.

The delegate form costs ₦5,000 and requires financial participation in the party for at least three months before to the congress, with a monthly contribution of at least ₦200.

Justice Adejumo Assumes Leadership at National Judicial Institute

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Justice Adejumo Assumes Leadership at National Judicial Institute

As the ninth administrator of the National Judicial Institute (NJI) Abuja, Justice Babatunde Adejumo (rtd) took over on July 31, 2025, when the time of the previous administrator, Justice Salisu G. Abdullahi (rtd), ended.

Remember that at its July 3, 2025, meeting, the National Judicial Institute’s Board of Governors, chaired by Chief Justice of Nigeria Justice Kudirat Kekere-Ekun, authorized the appointment of Justice Adejumo as the Institute’s Administrator, effective August 1, 2025.

The new administrator was greeted and cordially accepted by the Institute’s management and a few key personnel, according to a statement released on Friday by Kolade Umoru, Head of Information and Public Relations at NJI.

The Director of Administration, Mr. Osmond Otobo, spoke on behalf of the management and principal officers at the Institute’s Friday welcome reception, praising the new Administrator as a judicial officer who demonstrated exceptional leadership skills while serving as the President of the National Industrial Court in Abuja.

At the NICN, Justice Adejumo was characterized by Otobo as “a seasoned judicial administrator who made giant strides and transformation, which include various law reforms, physical infrastructures, and other remarkable achievements during his tenure as President of the Court.”

He also praised Justice Adejumo, whom he called “a great judicial technocrat,” for being appointed by the Chief Justice of Nigeria. The Nigerian judiciary and the Institute are both appreciative.

In addition to wishing him a prosperous term in office, Mr. Otobo reassured the new Administrator of the loyalty of the management and staff as well as their dedication to diligence and productivity.

The Institute, he informed Justice Adejumo, is “one big family where there is culture for good working relationship amongst staff and the Administrator.”

Justice Adejumo, the Administrator, responded by thanking the management for hosting a reception for him. He emphasized that he is not new to the Institute and has been acquainted with it since 1993. He has worked directly or indirectly with the Institute through previous Chief Justices of Nigeria.

Read Also: Tinubu/Shettima Ticket Gets Endorsement from North East APC Youths

He advised the workforce of the National Industrial Court of Nigeria (NICN) to embrace hard work and discipline, promising to repeat his performance there.

As a detribalized Nigerian, Justice Adejumo further pledged to handle every case on its own merits. However, he did recognize that NJI is a significant institution of the Nigerian judiciary, “thus it is the mirror to the public perception.”

In addition to promising to update the training materials and curriculum to reflect international best practices once he settles down, he urged NJI employees to be open and honest in their interactions.

In addition to overhauling the Institute’s information technology and library centers to increase accessibility and patronage worldwide, Justice Adejumo pledged to expedite staff training and retraining across all cadres and ranks and improve worker welfare packages.

Before joining NJI, Justice Adejumo served as President of the National Industrial Court of Nigeria (NICN) with distinction. He is a highly respected jurist, seasoned administrator, and teacher with extensive knowledge of judicial administration and continuing education.

“The Institute’s efforts to promote judicial capacity, development, and institutional innovation in knowledge, performance, and ethical standards in the Nigerian Judiciary are anticipated to be greatly strengthened by these attributes,” the statement read.

Tinubu/Shettima Ticket Gets Endorsement from North East APC Youths

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Tinubu/Shettima Ticket Gets Endorsement from North East APC Youths

In 2027, the All Progressives Congress Youth Parliament, North-East Zone, has backed Tinubu/Shettima’s combined ticket. The party says it would continue to push the ticket with unwavering resolve because everyone has tried and trusted it.

According to Kabiru Kobi, the group’s chairman, who spoke at a press conference in Bauchi on Friday, the country’s recent events, in which certain malicious elements and vested interest groups are stoking discontent within the party’s conduit by fabricating a conspiracy theory with the sole intent of replacing Vice-President Kashim Shettima, are a sign of deeper divisions that could eventually consume the party.

“The meeting has noted with the utmost dismay and consternation that tension is rising within the APC and that it signals a brewing storm that could shake the foundation of this giant party ahead of 2027 elections,” he stated.

History has demonstrated that political parties, regardless of their strength, are susceptible to implosion when internal strife is allowed to continue unchecked. He claims that a house that was once based on mutual understanding, unity, and shared ambition is now on the verge of discord, with obvious cracks endangering its very stability.

“We came together today, under this platform, not only to reassess our very foundation, but also to join in imagination to a common purpose and to take bold steps not only to overcome our current challenges, but also to achieve greater APC project in 2027, devoid of any resentment of whatever cause, after closely observing certain developments that suddenly start to rear their ugly head within the affairs of our party, the APC.”

Regrettably, dissenting voices are becoming more and more prevalent in all political arenas, which fuels conjecture about the whereabouts of Vice President Kashim Shettima. For the APC, the rumor that a key member of the party’s leadership structure will be removed is like stripping a man naked in the middle of the market; such a nefarious and clandestine action will undoubtedly be met with peaceful opposition from all well-meaning people, not just those who are members of our enormous party.

Read Also: Omotola Odunsi, Beloved Yoruba Actress, Is Dead

“We have witnessed this political scheming before, and it has always been ineffective; the strangling of powerful voices frequently leads to conflicts that damage party unity. This conspiracy agenda’s reappearance serves as a reminder of the lesson learned from the past: the shadowy plots by certain coalitions to remove the vice president caused internal strife, which shattered powerful political alliances, bred distrust among the high-ranking officials, and followed its course to haunt the party’s decision, which ultimately resulted in the overt defeat of the ruling party in 2015.

In light of this, we would like to make it clear that any attempt to defeat His Excellency Bola Ahmad Tinubu and Kashim Shettima’s joint ticket in 2027 will only fuel animosity that may persist after the elections due to the potential negative fallout from the party’s victory. History is not patient with those who choose to disregard its lessons, and it is not concealed that the PDP’s past deeds continue to plague the party in the nation today.

“With the 2027 elections approaching, it is important to consider several important concerns as the APC navigates these turbulent waters: Will the party be able to withstand the plotting of those fifth columnists within, who discovered a way to employ conspiracy theory to undermine the long-term gains made? Should we ignore the lessons learned from the past by letting some important players’ sense of thinking about the dangers ahead be clouded by excessive ambition?

“As everyone is aware, Tinubu’s administration inherited a declining economy and low revenue, but they were committed to address these issues through a number of reforms based on the Renewed Hope agenda, whose strong economic team is led by His Excellency Kashim Shettima. However, these political raiders chose to team up in the shadows and aim their arrows at the Economic Ship’s captain rather than focusing on and supporting these practical accomplishments.

We want to let His Excellency, our dynamic and well-liked leader, Bola Ahmad Tinubu, know that the entire calculated ingrate is targeting you, not the vice president, at this point. By displaying hypocrisy, the attackers hope to force Kashim Shettima to be replaced by someone whose political reputation is already in jeopardy. Knowing full well that, Vice President Kashim Shettima would persuade all of his supporters to live in harmony with God, which would be a turning point in your ability to face the anger of the Nigerian people since God, in his just nature, detests injustice.

His Excellency President Bola Ahmed Tinubu, who has grand ambitions to free the nation from the bonds of poor leadership, shaky economic policies, and excessive greed, is someone we think deserves our trust. We observed and valued his emphasis on the necessity of making tough choices and facing economic realities, which may make people uncomfortable in the short term but are necessary for long-term stability and economic success. Thus, we all recognize the necessity of uniting our support to help them create a true nation for us that has all the necessary resources to compete with others in terms of progress at all consequences.

“We are finally announcing our unwavering commitment to supporting Tinubu/Kashim’s joint ticket in 2027, and we will keep pushing this ideal precedent with unwavering determination.” According to him, this is because everyone has tested and trusted the ticket.

Omotola Odunsi, Beloved Yoruba Actress, Is Dead

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Omotola Odunsi, Beloved Yoruba Actress, Is Dead

Omotola Odunsi, a popular Yoruba film actress, has died.

Odunsi’s colleague, Akinola ‘Segbowe’ Akano, announced her death in a tribute on Instagram.

The actor uploaded images of Odunsi as well as screenshots of their most recent discussion, in which he inquired about her health and she responded that she had been ill but was improving.

Segbowe characterized her death as a “strange, rude shock,” meaning that she died right after he checked on her. He also extended his condolences to her family.

“Motola! Strangely, I tried to check on you in the early hours of the morning. “You said you were fine and back!,” he wrote on Thursday evening.

Read Also: Manufacturers to FG: Make Local Content Mandatory for Government Projects

“What a nasty shock, Omotola! Travel safely, sister. “May God be with your family.”

The reason of death is unknown.

Some of her colleagues in the Yoruba film business also used social media to pay their final respects.

Ashabi Simple, singer Portable’s baby mama, lamented Odunsi on Instagram, detailing their previous encounter on a movie set and unfulfilled hopes to collaborate on future projects.

“I am shocked. You are one of the best actors I am pulling for. I saw you earlier this year while shooting Deputy, and we agreed to feature each other in our future production, but now you’ve labored and haven’t waited to reap what life has sown,” she wrote.

Read Also: Manufacturers to FG: Make Local Content Mandatory for Government Projects

“I remember you chatting with me at night to give me hope and counsel, but the majority of your wishes we discussed never came true. GOD, we cannot question you; death is deep.”

Odunlade Adekola expressed regret about his trainee’s death, adding, “Jesus Christ. “RIP, Omotola.”

Odunsi began her acting career by participating in stage dramas during her 200-level year at Olabisi Onabanjo University before meeting actor Adekola at a training audition, where she was chosen and trained under his supervision. She graduated in 2023.

She has since appeared in various films, including ‘Lisabi: The Uprising’, ‘Officer Adaeze’, ‘Amonata’, ‘Ayanmo Ire’, and ‘Ifedayo’.

Manufacturers to FG: Make Local Content Mandatory for Government Projects

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Manufacturers to FG: Make Local Content Mandatory for Government Projects

Governmental organizations should be required to use indigenous products, according to the Manufacturers Association of Nigeria (MAN).

Speaking Thursday at the 40th annual general meeting (AGM) of the association’s Ogun state section in Abeokuta, Francis Meshioye, president of MAN, suggested sanctions for government contractors that disregard local content.

By requiring the purchase of locally produced goods and services, Meshioye stated that the “Nigeria First” policy must be rigorously implemented at all levels and branches of government.

According to the MAN executive, Nigerian businesses should provide all uniformed agencies with their cars, uniforms, footwear, and other supplies.

“There must be penalties for non-compliance, and government contractors must be required to prioritize local content,” he stated.

“To implement these reforms, we are actively collaborating with the state minister of industry through the Industrial Revolution Working Group.

“The manufacturing sector needs to regain its confidence.

We also implore the administration of Ogun State to domesticate the policy and guarantee that, when it comes to contracting and procurement, all state ministries, departments, and agencies give preference to items created in Nigeria.

The $2.4 billion in foreign exchange (FX) forwards due to manufacturers must be cleared immediately, Meshioye added, complaining that businesses are “bleeding” from double interest payments.

“Tough loan repayment due to high interest rates”

The chairman of MAN in Ogun State, George Onafowokan, pleaded with the federal government to enact reforms that will encourage the expansion and advancement of regional businesses in the nation.

The manufacturing sector’s decreasing share of Nigeria’s GDP, which Onafowokan stated dropped from 16.04 percent in the fourth quarter of 2023 to 12.68 percent by mid-2024, is a cause for concern.

Inflation, foreign exchange scarcity, high lending rates, and onerous regulations were the reasons he cited for the drop.

According to the chairman, the industrial and service sectors in Nigeria were the primary drivers of the country’s 3.4 percent GDP growth in 2024.

Members continue to function and make significant contributions to the economy in spite of the challenging circumstances, according to Onafowokan.

Read Also: Pela Predicts 2027 Election Showdown Between People and Government

According to the chairman, “members have remained steadfast, keeping factories running, paying workers, and contributing to Ogun State’s revenue base and Nigeria’s GDP.”

“Ogun manufacturers are still in business and making investments in the economy in spite of these obstacles.”

The issues facing Ogun’s manufacturers, he said, include arbitrary fines from regulatory authorities, illegitimate taxes imposed by local governments, and intimidation by government agencies and security personnel.

In addition, the state MAN chairman bemoaned the high cost of borrowing, pointing to the May 2025 monetary policy rate (MPR) of 27.5 percent.

Such rates, he claimed, reduce corporate margins and make loan repayment onerous.

Onafowokan encouraged manufacturers to look into other funding options like Agusto & Co., LECON Finance Company, and the Bank of Industry (BoI) in order to obtain reasonably priced capital for operations and growth.

During his speech, Ogun Governor Dapo Abiodun praised manufacturers for their tenacity and contributions to economic expansion.

In the capacity of Commissioner for Industry, Trade, and Investment Adebola Sofela, the governor reiterated the state government’s resolve to improve the business environment through tax simplification and infrastructure spending.

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