News
Nigeria Made No Progress In 40 Years, Ex-CBN Gov Laments
Former Governor of the Central Bank of Nigeria (CBN), Alhaji Sanusi Lamido, last Saturday, said that Nigeria had made zero progress since 1981.
Sanusi, who said this in Kaduna at a colloquium to mark his 60th birthday, maintained that the government must make the economy grow for the sake of ordinary Nigerians.
According to him, in the last 40 years, the Nigerian economy hadn’t made any meaningful progress.
The former banker explained that Nigeria’s GDP per capita on purchasing power parity had gone through a cycle where it grew and plummeted to nearly the amount it was 40 years ago.
He said, “In 1980, Nigeria’s GDP per capita on purchasing power parity basis was $2,180. In 2014, it appreciated by 50 per cent to $3,099. According to the World Bank, where were we in 2019? $2,229. At this rate in the next two years in terms of purchasing power parity, the average income of a Nigerian would have gone back to what it was in 1980 under Shehu Shagari. That means, in 40 years, no progress, we made zero progress. 40 years wasted.
“Between 2014 and 2029, on the basis of this index of the purchasing power of the average income of an average Nigerian, we have wiped out all the progress made in 35 years. We have a responsibility as a people to rise and improve the lives of the people of this country.”
Sanusi also added that there was no ignoring the facts that “things” were not working well in the country today, adding that “when you are in a society that is so abnormal, you cannot afford to be a conformist because you all conform, things will not change.”
The renowned economists also argued that fuel subsidy was unsustainable in the country, adding that had fuel subsidy been removed 10 years ago, Nigerians would not have felt less pain than if it was eventually removed today.
He said, “Many years ago when I was screaming about the billions being spent on fuel subsidies, I remember there was an attempt to attack my house in Kano. Then I was in the CBN. Where are we today? We are face to face with the reality that fuel subsidy is unsustainable. Now when the decision is taken, it will be more painful than if they had removed it five or 10 years ago.
“I only speak to the best of my understanding of what I see about the country and I have paid the price, but Nigerians are the ones paying the real price. It is the price you see in increased poverty, it is a price you see in insecurity, in high rates of inflation, in the loss of values of our currency, in the numbers around malnutrition, unemployment, out of school children, maternal mortality and infant mortality.
“Calling me controversial or calling me an enemy or critic will not make those facts go away. So, anywhere we go, we must face these facts. Am I happy about it on my 60th birthday? No. Because, 60 years ago when I was born, the United States Government advisory was telling investors that Nigeria has a better economic future than Japan. Today where are we and where is Japan?
“It is not about one or two governments, it is about decades of a people throwing away opportunities and every time we are given a chance to make a change, we go back to the same old things.”
Sanusi stressed that 70 per cent of Nigeria’s challenges are rooted in the nation’s economy.
He noted that Nigeria was like a house on fire that needed all hands on deck to put it out.
The colloquium had in attendance Sokoto State Governor, Aminu Tambuwal; former Deputy Governor of CBN, George Moghalu; the Deputy Governor of Kaduna State, Dr. Hadiza Balarabe; Emir of Zazzau, Amb Ahmad Nuhu Bamalli; university dons, among others.
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Drug Party: NDLEA Arrests Over 100 Suspects At Lagos Night Club
Operatives of the National Drug Law Enforcement Agency (NDLEA) yesterday arrested over 100 suspects at Proxy Night club located at No. 7, Akin Adesola Street, Victoria Island, where a drug party was going on.
Spokesman of the Agency, Femi Babafemi, who disclosed this yesterday, said the suspects arrested include the owner of the club, Mike EzeNwalieNwogu, alias Pretty Mike, who was taken into custody for screening.
“Cartons of illicit substances, including Loud and laughing gas, were recovered from suspects at the party and the club’s store,” Babafemi said.
The raid followed intelligence about the drug party. NDLEA operatives who were embedded in the party between 11 pm on Saturday, 25th October, however, disrupted the gathering at 3 am on Sunday, 26th October, in line with Standard Operating Procedures (SOPs).
Similarly, NDLEA said a total of 70 parcels of cocaine factory packed in walls of cocoa butter formula body cream containers heading to London, United Kingdom, were uncovered at the export shed of the MurtalaMuhammed International Airport (MMIA), Ikeja, Lagos, with three suspects arrested in a series of follow-up operations across Lagos.
According to the statement, “The cocaine consignments weighing 3.60 kilograms were discovered on 14th October 2025 during examination of cargoes packaged as personal effects going to London, UK on an Air Peace flight.
“A cargo agent, Lawal Mustapha Olakunle, who presented the consignment for airfreight, was promptly arrested while investigations stretching into two weeks led to the arrest of two principal suspects linked to the attempt to export the concealed Class A drug to the UK.
“In a follow up operation on 18th October, a female healthcare worker OgunmuyideTaiwo Deborah was arrested following which Mutiu Adebayo Adebiyi, the Chief Executive Officer of a travel agency, MutiuAdebiyi& Co, was arrested at his 23 LadokeAkintola Street, Ikeja GRA Lagos office on Monday 20 th October”.
In a similar development, an attempt by a 35-year-old Lesotho national, Lemena Mark, to export 103.59 grams of methamphetamine concealed in a diabeta herbs coffee tea pack to the Philippines on an Ethiopian Airlines flight from the AkanuIbiam International Airport (AIIA) Enugu on Wednesday, 22nd October, was thwarted by NDLEA officers who arrested him and recovered the illicit drug.
No fewer than 21,950 capsules of tramadol 250mg concealed inside a 100-litre water heater were recovered from a suspect, Umar Abubakar, 40, who was arrested by NDLEA operatives at Bode Saadu, Morro local government area of Kwara state, following credible intelligence on Tuesday, 21st October.
In Taraba, the duo of Auwal Musa, 26, and SalihuBala, 22, were arrested on Tuesday, 21st October, with 450,000 pills of tramadol and Exol-5 at Dan-anacha checkpoint while conveying the consignment in a truck loaded with building materials from Onitsha, Anambra state, to Mubi, Adamawa state.
Also, NDLEA officers on patrol along the Okene/Lokoja highway, Kogi state, seized 162.200kg skunk, a strain of cannabis, from a truck on Friday, 24th October. Operatives in Nasarawa state on Wednesday, 22nd October, recovered 128kg of the same psychoactive substance from a suspect, Abubakar Muhammad, 55, in the Keffi area of the state.
A mother of two, Oyonumoh Glory Effiong, who is a major distributor of Canadian and California Loud, both strong strains of cannabis, in Lekki, Ajah, Ikoyi, Victoria Island and VGC areas of Lagos, has been arrested by NDLEA operatives on Friday, 17th October, during a raid at her Lekki home, where 500 grams of the illicit substances were recovered.
In the Ikorodu area of Lagos, NDLEA officers on Thursday, 23rd October, raided the home of a suspect, OgunyaboAdenigbigbe, at Solomade estate, where 275 litres of skuchies, a new psychoactive substance produced with black currant drink, cannabis and opioids, were recovered.
A 75-year-old grandpa, EchenduOnuoka, was arrested on Wednesday, 22nd October, at Ovum village, Obingwa LGA, Abia state, with 4.7kg skunk seized from him, while a 60-year-old grandma, Aukana John, was nabbed with 225 grams of the same substance at Apanta village, in the same LGA.
While a 150kg skunk was recovered during a raid operation at Lot camp, IkunAkoko, Ondo state, two suspects: Bashir Mohammad, 50, and Samini Ahmed Tijjani, 35, were nabbed with 234.5kg of the same substance at Yan aya ,Saminaka in Lere LGA, Kaduna on Friday, 24th October, just as another set of suspects: IsahUsman, 50, and Salvation Okoler, 18, were arrested with 8,600 pills of tramadol 225mg and rohypnol along Abuja/Kaduna highway.
At the Seme border area of Lagos, NDLEA operatives on Wednesday, 22nd October nabbed Jacob Ojugbele with 55kg skunk at Ashipa area of Badagry, while AmusaOluwabukola was arrested with 121.3 litres of skuchies at ItogaBadagry.
In Zamfara state, NDLEA operatives on patrol along Gummi-Anka road on Monday, 20th October arrested a suspect, Abubakar Ibrahim, 30, in possession of an AK-47 rifle and 1,746 assorted calibres of ammunition, for AK-47 and GPMG rifles while moving them from Sokoto to Bagega forest, Anka LGA, Zamfara. Both the suspect and the exhibits have since been handed over to the appropriate security agency for further investigation.
With the same vigour, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, workplaces, and communities, among others, in the past week.
These include: WADA sensitization lecture to students and staff of Asabari Grammar School, IluwaIsaleOke, Saki West LGA, Oyo; Government Day Girls Secondary School, BirninKebbi, Kebbi; St. Mark’s College, Nsude, Enugu; Kusaki Secondary School, Gboko North, Benue; Government Day Secondary School, Serti- Baruwa, Gashaka LGA, Taraba; Police Children School 2, Port Harcourt, Rivers and Hajara Ahmad International School, Tudun Wada, Kano state, among others.
While commending the officers and men of MMIA, AIIA, Lagos, Kwara, Abia, Nasarawa, Kogi, Ondo, Anambra, Taraba, Kaduna, Seme and Zamfara Commands for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed BubaMarwa (Rtd) urged them and their colleagues across the country to continue the Agency’s balanced approach to drug control efforts.
News
SERAP Demands NNPCL Account For Oil Revenues, Threatens Legal Action
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), BayoOjulari, to provide a detailed account of oil revenues reportedly flagged by the Auditor-General of the Federation in the 2022 annual report.
The report, published on September 9, 2025, raised questions over the management of multi-billion-naira transactions, including over N22 billion, $49 million, £14 million, and €5 million in oil-related revenue, handled by the national oil company.
In a letter dated October 25, 2025, and signed by SERAP’s Deputy Director, KolawoleOluwadare, the organisation called on Ojulari to ensure transparency by identifying those responsible for any unaccounted funds and forwarding the findings to the appropriate anti-corruption agencies.
“These findings raise serious concerns about transparency and accountability in the management of public resources,” SERAP said.
The group urged the NNPCL to recover any unremitted or misapplied funds and return them to the national treasury, stressing that proper management of oil revenues was crucial for national development.
“The allegations, if not promptly and transparently addressed, could undermine public confidence and economic stability,” SERAP stated.
According to the organisation, the Auditor-General’s report drew attention to issues such as irregular payments, uncompleted projects, and documentation lapses relating to oil sector transactions.
SERAP argued that corruption and financial mismanagement in the oil sector had long hindered Nigeria’s ability to channel its vast petroleum wealth into improved public services.
“Despite the country’s enormous oil resources, citizens continue to face hardship due to a lack of accountability and transparency in revenue management,” the statement noted.
The organisation maintained that if the flagged funds were properly accounted for, more resources could be made available for sectors such as education, healthcare, and social welfare.
It added that the NNPCL must take proactive steps to comply with audit recommendations, including closing identified loopholes and enhancing oversight on contract execution.
SERAP also warned that it would take legal action should the NNPCL fail to respond within seven days.
“We would be grateful if the recommended measures are taken within seven days of the receipt and publication of this letter.
“If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel compliance in the public interest,” the organisation said.
The group cited Section 15(5) of the Nigerian Constitution, which mandates public institutions to prevent corrupt practices and abuse of power.
News
N’Assembly Committee Approves New State ForS’East
The Joint Committee of the Senate and House of Representatives on Constitution Review has approved the creation of an additional state in the South-East geo-political zone.
According to a statement by the media unit of the committee, the resolution was reached on Saturday at a two-day retreat in Lagos, where it reviewed 55 proposals for state creation across the country.
The session, chaired by the Deputy Senate President, BarauJibrin, and co-chaired by the Deputy Speaker of the House of Representatives, Benjamin Kalu, resolved that, in the spirit of fairness and equity, the Federal Government should create another state for the region.
Kalu, who joined other lawmakers to champion additional state creation for the region, argued that a new state would give the people a sense of belonging.
When created, the South-East will be at par with the South-South, South-West, North-Central, and North-East zones, each having six states.
The South-East is the only geo-political zone with five states comprising Abia, Anambra, Ebonyi, Enugu, and Imo.
The North-West comprises seven states: Kaduna, Kano, Kebbi, Katsina, Zamfara, Sokoto, and Jigawa.
According to the statement, Senator Abdul Ningi (Bauchi Central) moved a motion for the creation of the new state, which was seconded by Ibrahim Isiaka (Ifo/Ewekoro, Ogun State) at the retreat.
“The motion received the unanimous support of committee members and was adopted,” the statement read in part.
Similarly, the committee also established a sub-committee to consider the creation of additional states and local government areas across all six geo-political zones, noting that a total of 278 proposals were submitted for review.
Speaking at the event, Jibrin urged members to rally support among their colleagues at the National Assembly and state Houses of Assembly to ensure the resolutions sail through during voting.
“We need to strengthen what we have started so that all parts of the country will key into this process.
“By the time we get to the actual voting, we should already have the buy-in of all stakeholders—from both chambers and the state Houses of Assembly,” the Deputy Senate President was quoted as saying.
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