Connect with us

News

Lagos- Calabar Coastal Project: Peter Obi inciting Igbos against Tinubu Govt

Published

on

The Minister of Works, Dave Umahi, has alleged that Peter Obi, former presidential candidate of the Labour Party, LP, is inciting people of the southeast, especially those who are not well informed, against the government.
Umahi claimed that Obi would not fight for the people even after getting them into trouble.
He made the statement on Wednesday while speaking during an event to compensate property owners affected by the Lagos- Calabar coastal road prospect.
The exercise was organized by the Federal Ministry of Work.
The 700-kilometre coastal highway has been enmeshed in controversy following the demolition of Landmark Beach Resort, valued at $200 million, to create a right of way for the project which is estimated to cost the federal government N15 trillion.
After the demolition, a visibly worried Paul Onwuanibe, the Group CEO of Landmark, told BusinessDay that about 70 percent of the beach was destroyed by the government bulldozer, describing the action as “insensitive.”
“What is left of these businesses are the rubbles you can see (in video clips he captured while the demolition was going on). Those are people’s investments and means of livelihood reduced to mere rubbles; so many jobs have been lost and many Nigerian families are in for it,” Onwuanibe said.
On his part, Obi slammed President Bola Tinubu’s administration for going on with the controversial Lagos-Calabar coastal highway project in defiance of public outcry.
The presidential candidate expressed displeasure that the government is embarking on a job-losing project at a time of rampant unemployment.
Obi said it was not too late to discontinue the Lagos-Calabar highway project, adding that urgent necessities are nationwide security, poverty eradication, healthcare, and education, especially for the poor and underprivileged.
He had also described the reported demolition of businesses and residences in the designated right of way for the project as insensitive and heart-wrenching, lamenting that livelihoods were being wiped away, lifetime investments wasted, and jobs disappearing as a result of the demolition.
In a post on his X handle on Tuesday, the former Anambra State governor said: “The outcry against this project has been overwhelming due to the current situation in the country. However, reports as of yesterday indicate that demolition of businesses and residences in the designated right of way for the project has commenced from the Lagos end.
“The sight of this insensitive demolition is heart-wrenching. Livelihoods are being wiped away, lifetime investments are being wasted, and jobs are disappearing as bulldozers roar through. The homes of the elderly are being overturned by the power of bulldozers.
“This hasty flag-off defies the widespread outcry by the public, especially business and property owners directly affected by the project. Nobody knows the outcry that will accompany this project as it progresses towards poor rural landscapes.
“Thousands of jobs are about to be lost, with investments above $200 million at risk. Over 100,000 jobs in the leisure and hospitality sector face imminent extinction, along with 80 small businesses and their 4000 mostly youth employees.”
However, Umahi insisted there was no inhumanity meted to Landmark and that the matter should be buried because he was actively involved.
The former Ebonyi State Governor alleged that Obi goes around to condemn people, thereby bringing judgment upon himself.
He said: “It brings to some of the comments made by my brother, his Excellency Mr Peter Obi, I am not supposed to comment about it because some people have already done the work. And I know what Arise Television brought courtesy of Channels Television, they were bringing similar scenarios when His Excellency Peter Obi was the governor. He made a statement saying ”Any infrastructure that stands in the way of the road must go. And there would be no compensation paid.” That’s what he said.
“But look at me, by the human face of the renewed hope agenda administration, we are even paying for people who are illegally staying on the coastal line, and don’t have valid infrastructure and valid documents. That is mercy, that’s mercy… You know some people darken counsel without knowledge. You know there’s the devil in the details.
“When you condemn people, you bring judgment upon yourself. And that is what he (Obi) has done. And I think he’s inciting some of the south east people that are not well informed. He is inciting them. And gets them into trouble. And he doesn’t go to fight for them. Wisdom is a defence. And I want our people to have wisdom because I am involved.
“There’s is no inhumanity meted to Landmark, that matters should be buried because I was there. And so we fought everything possible. Even some people donated property to save his two big infrastructures. That’s appreciation. But some people have taken sides along with him to play politics.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NECO Releases 2026 SSCE Results as 58.67% Secure English, Maths Credits

Published

on

The National Examinations Council (NECO) has released the results of the 2026 Senior School Certificate Examination (SSCE) Internal, with 58.67 per cent of candidates obtaining at least five credits, including English Language and Mathematics.

NECO Registrar and Chief Executive, Professor Dantani Wushishi, announced the results on Thursday at the council’s headquarters in Minna, Niger State.

A total of 1,378,048 candidates registered for the examination, comprising 682,352 males and 695,696 females. Of the registered candidates, 1,371,992 eventually sat for the examination.

According to NECO, 804,948 candidates, representing 58.67 per cent, obtained five credits and above, including English Language and Mathematics. Another 1,162,118 candidates, representing 84.70 per cent, obtained at least five credits irrespective of their results in the two subjects.

The 2026 examination was conducted between June 15 and July 23 across Nigeria and six foreign countries: Benin Republic, Equatorial Guinea, Niger Republic, Côte d’Ivoire, Togo and Saudi Arabia. The nationwide marking exercise took place from August 17 to September 4.

NECO also reported a significant reduction in examination malpractice. The council said the number of candidates involved in malpractice fell from 3,878 in 2025 to 1,406 in 2026, representing a 64.74 per cent decline.

The registrar attributed the reduction to strengthened examination monitoring, improved processes and collaboration with security agencies and other stakeholders.

The council also disclosed that candidates with special needs participated in the examination, as part of its efforts to make the examination process more inclusive.

NECO said candidates can now access their results through its official result-checking platform using their examination registration details.

The release of the results comes 63 days after the conclusion of the 2026 SSCE examination.

Continue Reading

News

Nigeria’s FX Supply Rises 20.5% to $8.94bn in 2025

Published

on

Nigeria’s foreign exchange supply increased by 20.5 per cent to $8.94 billion in 2025, up from $7.43 billion recorded in 2024, according to data from the Central Bank of Nigeria (CBN).

The figures were contained in the apex bank’s 2025 Statistical Bulletin and represent an increase of about $1.51 billion in annual foreign exchange supply.

Monthly figures showed that supply remained relatively low at the beginning of 2025 before rising significantly in March and April.

FX supply stood at $590.64 million in January and $607.63 million in February. It then climbed to $1.04 billion in March before reaching its highest monthly level of $1.65 billion in April.

However, supply declined in the following months, falling to $838.93 million in May and $676.31 million in June. It recovered slightly to $759.02 million in July before dropping to $677.84 million in August and $399.80 million in September.

October recorded the lowest monthly figure for the year at $150.10 million. Supply later recovered to $638.38 million in November and $910.73 million in December.

The CBN also reported that total foreign exchange inflows into Nigeria rose from $96.53 billion in 2024 to $109.86 billion in 2025, representing a 13.81 per cent increase.

However, foreign exchange outflows also increased during the period, rising by 27.83 per cent from $38.37 billion to $49.05 billion.

As a result, Nigeria recorded a net foreign exchange inflow of $60.81 billion in 2025, compared with $58.16 billion in 2024.

The CBN data, however, do not provide a detailed breakdown of the sources of the $8.94 billion supplied during the year.

The increase in FX supply comes amid continued efforts to improve liquidity and stability in Nigeria’s foreign exchange market, although the market remained volatile in 2026.

Continue Reading

News

Dangote Reacts to Viral Memes as Nigerians Joke About Refinery Ownership

Published

on

Africa’s richest man and President of Dangote Group, Aliko Dangote, has reacted to the wave of viral memes generated by Nigerians who recently bought shares in the Dangote Petroleum Refinery.

The memes emerged following the launch of the refinery’s Initial Public Offering (IPO) on the Nigerian Exchange on September 14, with investors jokingly presenting themselves as business partners and co-owners of the multibillion-dollar refinery.

Dangote addressed the trend while speaking with CNN correspondent Larry Madowo at the Unstoppable Africa 2026 summit in New York.

The billionaire said the IPO was designed to attract investors from across Africa, with an ambition of having up to 10 million shareholders.

According to Dangote, the objective is to broaden ownership and increase participation in Africa’s capital markets.

He also expressed confidence in the future value of the company, saying the share price would continue to grow and that he expected the refinery to become Africa’s most profitable company.

The viral memes began after the minimum subscription was set at 10 shares, allowing more Nigerians to participate in the offer with a relatively small amount of money.

Some new shareholders jokingly demanded board meetings, while others posted memes portraying themselves as senior executives of the refinery. The trend even inspired humorous videos from Nigerian comedians and content creators.

Reuters also reported that the IPO triggered significant interest among retail investors, with some digital investment platforms experiencing technical difficulties as people rushed to participate.

The Dangote Refinery IPO involves 4.1 billion ordinary shares, with the offer scheduled to close on October 13, 2026. The funds are intended to support the company’s expansion plans, including an increase in refining capacity.

Dangote also said the expected number of shareholders could be so large that the company’s annual general meeting would need to be held in a stadium.

The development has turned what is essentially a major capital-market transaction into a major social-media talking point, with Nigerians using humour to celebrate their newly acquired stakes in one of the country’s biggest industrial projects.

Continue Reading

Trending