The African Democratic Congress (ADC) has directed members of the national coalition yet to resign from their former political parties for their formal recognition as members of the party.
The ADC National Publicity Secretary, Malam Bolaji Abdullahi disclosed the directive after the party’s caucus meeting held in Abuja.
“Though final order has been given to all members to resign membership of other political parties, the caucus was silent on the timeline,” he said.
Abdullahi also disclosed that all the party’s presidential aspirants for 2027 had agreed to support whoever wins the primaries election.
He added that the party denied any interest in registration or otherwise the All Democratic Alliance (ADA) seeking to be registered as a political party.
He noted that the National Working Committee of ADC would announce date for primaries to elect its candidates for Osun and Èkìtì States off-cycle governorship elections.
Abdullahi said that the meeting was attended by ADC National Chairman, David Mark, former Vice President, Atiku Abubakar, National Secretary, Rauf Aregbeshola, former Kaduna State Gov. Malam Nasir el-Rufai.
Others at the meeting include former Sokoto State Gov. Sen. Aminu Tambuwal, former Rivers Gov. Chibuike Amaechi among others.
He said that National Leader of Labour Party, Mr Peter Obi sent apologises, but gave his commitment to decisions took at the meeting.
The stock market closed the week with a gain of N618 billion on Friday, following sustained interest in medium and large capitalised stocks.
Specifically, market capitalisation grew by N618 billion or 0.7 per cent, closing at N89.960 trillion from N89.342 trillion on Thursday.
Similarly, the All-Share Index increased by 983.99 points or 0.7 per cent to close at 142,133.03 from 141,149.04 recorded previously.
Also, the market breadth closed positive with 36 gainers and 23 losers.
Thomas Wyatt Nigeria led the gainers’ table by 10 per cent, closing at N3.30 while The Initiates and Eunisell Interlinked grew by 9.98 per cent each, ending the session at N13.22 and N33.60 per share respectively.
FTN Cocoa Processors rose by 9.96 per cent, finishing at N5.96 and Omatek Ventures soared by 8.57 per cent, settling at N1.14 per share.
Conversely, Fidelity Bank led the losers’ table, dropping by 10 per cent, closing at N18.45, Custodian Investment trailed by 8.90 per cent, settling at N44 while Cutix fell by 8.31 per cent, finishing at N3.20 per share.
Daar Communications dipped by 7.02 per cent, ending the session at N1.06 and Union Dicon Salt declined by 5.26 per cent, closing at N9 per share.
Analysis of the market activity revealed decline in the market value and volume with an improvement in the deals.
A total of 518.7 million shares valued at N18.05 billion were traded across 22,350 deals, compared to the previous day’s 5.5 billion shares worth N419.7 billion exchanged in 20,399 transactions.
Abbey Mortgage Bank topped the activity chart in volume with 50.03 million shares valued at N340.2 million.
Zenith Bank followed with 38.97 million shares worth N2.7 billion while Stanbic IBTC sold 38.95 million shares valued at N4.2 billion.
FCMB traded 32.3 million shares worth N347.8 million and Sovereign Trust Insurance transacted 27.3 million shares valued at N84.1 million.
The Independent National Electoral Commission (INEC) has approved the promotion of 471 junior staff across various grade levels.
The decision was taken at the Commission’s weekly meeting, Thursday in Abuja, and chaired by INEC Chairman, Prof. Mahmood Yakubu.
Out of 515 staff shortlisted, 214 were promoted to Grade Level 07, 134 to Grade Level 06, 106 to Grade Level 05, and 17 to Grade Level 04.
The promotion, which covers officers on Grade Levels 03 to 06, represents the first phase of the exercise, while the promotion of senior staff is now underway.
In a statement, INEC National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, said the exercise reflects the Commission’s commitment to merit-based career progression.
“Staff promotion is a routine exercise. The Commission remains committed to regular merit-based promotion and the welfare of staff.
We urge all staff to rededicate themselves to service, particularly with regard to elections and electoral activities,” Olumekun stated.
Meanwhile, the Commission also reviewed preparations for the forthcoming Anambra governorship election, the FCT Area Council election, as well as party primaries ahead of the Ekiti and Osun governorship polls.
The former Jigawa State Governor, Sule Lamido has declared that his longstanding friendship with President Bola Tinubu will not prevent him from working against the ruling All Progressives Congress (APC) in the 2027 general elections.
Lamido, in an interview with the BBC, emphasized that politics and friendship must remain separate, insisting his loyalty lies with Nigeria’s progress and the survival of the opposition.
“Tinubu and I know each other very well, but we haven’t met in a while.
He told me, ‘Sule, I love you because you are trustworthy.’ We laughed and left. But that doesn’t change politics. My duty is to unite Nigerians in opposition to his government,” Lamido said.
The comment came after Lamido and Tinubu were seen laughing and exchanging pleasantries at the wedding of former Zamfara Governor Abdulaziz Yari’s son in Kaduna, fueling speculation about their political alignment.
Lamido dismissed the speculation, stressing that his commitment is to mobilize opposition forces against what he described as the APC-led government’s failures on insecurity, economic hardship, and national unity.
He further reiterated his loyalty to the PDP despite recent high-profile defections, including that of former Vice President Atiku Abubakar to the African Democratic Congress (ADC). “Atiku and I formed the PDP.
We are still talking to many Nigerians who were once with us but are now scattered. What we are doing is for the people, not ourselves,” Lamido said.
The former governor added that the PDP is working to resolve its internal crises and strengthen unity ahead of 2027.
“We are constantly engaging, reaching compromises where needed, and ensuring dialogue continues. Nigeria must move forward, and we will hold Tinubu accountable,” he noted.
Meanwhile, the Lagos State APC dismissed opposition claims, including suggestions that President Tinubu would serve only one term.
APC spokesman Seye Oladejo described such comments as “wishful thinking from political lightweights,” insisting Tinubu is laying the foundation for long-term transformation.
With Lamido maintaining his opposition stance and the PDP struggling to reorganize, the 2027 elections are already shaping up to be a fierce political contest.
Nigeria’s Minister of Foreign Affairs, Yusuf Maitama Tuggar, has reaffirmed the country’s strategic position as an anchor state in Africa.
He therefore calls on the United States to deepen its engagement on the continent through stronger partnerships with Nigeria.
Tuggar made the call at a high-level investment roundtable organized by the Business Council for International Understanding (BCIU) on the sidelines of the 80th United Nations General Assembly (UNGA).
The forum was attended by Vice President Kashim Shettima and senior executives of top U.S. firms.
Highlighting opportunities across priority sectors such as energy, agriculture, technology, and finance, Tuggar stressed that Nigeria’s size, resources, and leadership role make it the natural hub for U.S. investment in Africa.
“With our vast population, abundant resources, and continental scale, Nigeria is a natural destination for U.S. business partnerships,” Tuggar said. “Such collaboration will reduce costs, provide access to a skilled talent pool, and help integrate millions of informal businesses into the formal economy.”
He added that under President Bola Ahmed Tinubu’s Renewed Hope Agenda, Nigeria is pursuing economic diplomacy and reforms designed to attract investment, improve the ease of doing business, and ensure that global partnerships yield tangible benefits for citizens.
Tuggar emphasized that Nigeria’s demographic advantage and continental influence reinforce its role as Africa’s premier gateway for global investors seeking growth and long-term impact
President Bola Ahmed Tinubu has called for sweeping reforms to restore the credibility of the United Nations and global financial systems, urging world leaders to adapt institutions to present-day realities.
Speaking through Vice-President Kashim Shettima at the 80th United Nations General Assembly (UNGA80) in New York, Tinubu said the world could not afford “the luxury of inaction” in the face of conflicts, climate change, debt crises, and widening inequality.
“The United Nations will recover its relevance only when it reflects the world as it is, not as it was,” Tinubu declared, arguing that Nigeria deserves a permanent seat on the UN Security Council. He noted that while Nigeria was a colony of 20 million when the UN was founded in 1945, it is now a sovereign state of more than 236 million, projected to be the world’s third most populous country.
He outlined four priorities for change which includes:
a) Security Council Reform: that is it’s expansion to reflect current global realities, including Nigeria’s representation.
b) Debt Relief and Fair Financing: as a new binding mechanism for sovereign debt management, “an International Court of Justice for money.”
c) Resource Equity: by ensuring mineral-rich countries to benefit directly from their resources through local processing and jobs, and;
d) Closing the digital divide as a global initiative to expand technology access, declaring that “A.I. must stand for ‘Africa Included.’”
Reaffirming Nigeria’s commitment to peace, Tinubu highlighted the country’s participation in 51 of 60 UN peacekeeping operations since 1960. He also backed a two-state solution in Palestine, saying the right to life “should not be trapped in the corridors of endless debate.”
On regional security, he warned against terrorism and extremism, describing them as threats that prey on division and undermine human dignity.
Tinubu further described climate change as a pressing security concern tied to migration, instability, and inequality, urging the UN to channel climate funds into education, resilient housing, and community development.
Referencing Nigeria’s ongoing economic reforms, including subsidy removals and currency adjustments, Tinubu acknowledged the hardship but said they were necessary steps to unlock growth and attract investment.
He pointed to the inaugural West Africa Economic Summit held in Abuja as proof of Africa’s potential when innovation and investment intersect.
Warning against growing disillusionment with multilateralism, Tinubu said: “We must make real change, change that works, and change that is seen to work. If we fail, the direction of travel is already predictable.”
He closed with a reminder of shared responsibility: “For none of us is safe until all of us are safe.”
Says the proposed amendment will present grave legal implications, counter productive
Mr Ben Ekori, an industry expert cautions the sponsors of the proposed amendment of the Petroleum Industry Act (PIA), saying the proposal would reintroduce uncertainty, counter production and present grave legal implications for Nigeria.
Media reports indicate that Nigerians are raising concerns over the alleged ongoing moves to amend the PIA, passed in 2021 after decades of debate.
Ekori, a public affairs analyst, while reacting to the development said such a move would erode Investors’ confidence and occasion grave unintended consequences to the country and its citizens.
“That the news of the proposed PIA amendment has been in the public space for a week without denial could only mean that there could be some substance in it.
“While we await the confirmation of the news and its ultimate metamorphosis into a policy, it is pertinent to x-ray some provisions the proposed amendment appears to have been designed to bring about and their implications for Nigeria and its citizens.
“The proposed amendment which is alleged to be sponsored by the Ministry of Finance is designed with the objective of addressing the escalating fiscal leakages and revenue loss confronting the Federation.
“The reports also indicate that areas targeted for amendment include section eight which establishes the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the body charged with the regulation of upstream operations.
“The amendment, according to the reports, will see the NUPRC replacing the NNPC Ltd. as the representative of the government in all model contracts attached to licenses and leases provided for in section 85,” he said.
He said that section 53 of the PIA was also slated for amendment to make the Ministry of Finance Incorporated (MOFI) the sole owner of the NNPC Ltd.’s shares as against the extant situation where the company’s shares are split 50:50 between MOFI and the Ministry of Petroleum Incorporated.
The expert, however, warned that the proposed amendment to make the NUPRC the concessionaire in place of the NNPC Ltd. would reintroduce uncertainty into the system, with NUPRC serving as a regulator and an operator at the same time.
“This would definitely lead to erosion of Investors’ confidence as it would be an over-stretch of the imagination to expect PSC partners to believe that they could get justice if a dispute broke out between them and the concessionaire (NUPRC) which is also the regulator.
“The sponsors of the amendment need to carefully consider the impact that this proposed provision will have on investors’ confidence and grave legal implications it will present.
“It will be counter-productive to introduce an amendment into a law that could totally negate what the law is fundamentally designed to achieve.
“With NNPC Ltd. serving as the concessionaire, the Federation is insulated from legal hazards, and there will be limits to liabilities from legal infractions.”
He further said the other proposed amendment that could have grave implications for the nation in general, and the national oil company in particular, was the provision that sought to transfer all the shares of the NNPC Ltd. to the MOFI.
According to him, the PIA provides for the NNPC Ltd. to commence a process of listing on the capital market as part of deepening its commercial focus.
He said transferring all the shares to one government entity at a time when activities should be in high gear for the company’s Initial Public Offering could create the impression that the government does not want to let the company go.
“The move has the potential of reversing the modest gain of having the company operate as a true limited liability company without direct government control or interference,” he added.
He said in trying to analyse the implications of the above proposed amendments to the PIA, it would be nice to understand what the situation was, prior to the passage of the PIA.
Ekori recalled that the President Olusegun Obasanjo’s administration set up the Oil and Gas Sector Reform Committee (OGSRC) in 2000 to look at why the industry was consistently not meeting revenue targets and recommend solutions.
He said amongst numerous observations of the committee were that some of the laws that governed the industry were not only obsolete but created uncertainty which made prospective investors wary of committing capital to further asset development projects.
The expert further said the work of the OGSRC laid the foundation for the Petroleum Industry Bill which took almost 20 years to pass, due to politics.
“For the whole of the period that the PIB lagged, Nigeria regressed as a prime investment destination, as most of the IOCs refrained from investments that could boost production because there was no clarity around the fiscal terms which investment decisions could be taken.
“Another critical area that bred uncertainty, apart from the fiscal terms, was the lack of clear delineation of roles amongst agencies in the sector.
“Of particular notoriety was the dual role of the then Nigerian National Petroleum Corporation as an operator and regulator, a situation that made the old NNPC to be like a judge in its own court when in dispute with Joint Venture and PSC partners.
“The enactment of the PIA in 2021 successfully put paid to issues of uncertainty in the system and has gradually begun to restore investors’ confidence.
“Investors may not have started falling over themselves over opportunities in the Nigerian Oil and gas sector yet, but the reports show that things are not the same as they were in the pre-PIA era,” he said.
Heavy clashes erupted Wednesday in the western Libyan city of Zawiya, between rival factions affiliated with the Government of National Unity (GNU).
According to the Libyan News Agency (LANA), the fighting broke out between the GNU Interior Ministry’s Security Threats Apparatus and a local armed group known as Al-Kaboutat, which is linked to the Defense Ministry.
The clashes were triggered by the apparatus’s arrest of several members of Al-Kaboutat.
Local media said the fighting killed a member of the Petroleum Facilities Guard when a mortar shell struck near him. No further information on casualties has been released.
Sources said the clashes quickly spread into residential neighborhoods and around the city’s oil refinery. Videos circulating on social media showed the use of medium and heavy weapons.
Heavy military reinforcements were also deployed on main roads, including the coastal highway, which was blocked with sand barriers.
No official statements have been issued by the government or security bodies on efforts to contain the violence, while residents voiced concern over the fighting’s proximity to schools and vital facilities.
In a statement carried by LANA, the Zawiya Oil Refining Company expressed “deep concern” over the dangers posed by the clashes near its facilities, warning of “serious threats to lives and vital infrastructure.”
The company called for an immediate ceasefire and urged authorities to secure the complex, stressing that any attack on the refinery “would directly undermine the resources of the Libyan people and their national wealth.”
Meanwhile, the Zawiya Education Directorate announced the suspension of classes in all city schools to protect students and staff. Local authorities also urged residents to stay indoors and venture out only if absolutely necessary.
The violence came amid rising armed confrontations among factions and militias in western Libya. Over the past week, clashes were reported in Janzour, 12 km west of Tripoli, and in the city of Sorman.
Observers said the latest escalation underscores the ongoing political and security crisis in Libya, driven by the lack of a final resolution to the conflict between rival governments.
Libya has remained divided since the 2011 NATO-backed uprising that toppled longtime leader Muammar Gaddafi.
The country is split between rival administrations: the GNU in Tripoli and an eastern-based government backed by the Libyan National Army under commander Khalifa Haftar.
Apparently worried by rising incidents of violence by state institutions, the Anambra Police Command has called on communities to promote peaceful coexistence.
In a statement by its spokesperson, SP Tochukwu Ikenga, the police command advised communities to shun the ‘osu’ caste-based discrimination in particular.
SP Tochukwu Ikenga, made the call in a statement issued to newsmen in Awka on Wednesday.
Ikenga stated that the practice of the osu caste system violates fundamental rights of citizens.
The Nigerian Anchor reports that some state based security agencies have been involved in recent acts of violence leading to loss of life.
“The Police Command in Anambra has reiterated that any form of discrimination, humiliation, or denial of rights based on caste practices is barbaric, unlawful, and a gross violation of the fundamental human rights guaranteed under Nigerian law.
“Section 42(1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), provides that no citizen shall be subjected to any form of discrimination on the basis of community, ethnic group, place of origin, sex, religion, or circumstance of birth.
“Likewise, Section 34(1) affirms the right to dignity of the human person and prohibits all forms of inhuman or degrading treatment.
“The command urges residents of Anambra to promote peace, equality, and mutual respect for human rights, and to report any incident of caste-based discrimination to the nearest police station for appropriate action.
“In addition, the Discrimination Against Persons (Prohibition) Act, 2018 criminalises all forms of discrimination and prescribes penalties for offenders.
“The command warns that attempts to deny couples the right to marry or live freely together on the basis of caste practices is unacceptable and unlawful.
“Once two consenting adults agree to marry, no cultural barrier or discriminatory practice has any legal standing to override their constitutional rights to freedom of association (Section 40), family life, and dignity,” Ikenga stated.
He added that the country is governed by the rule of law “and not oppressive or degrading traditional practices, and anyone found culpable of enforcing caste-based discrimination will face the full weight of the law.
“The dignity, freedom, and security of every individual in the state remain a top priority to the command,” Ikenga added.
