Fola Adeola, co-founder of GT Bank, on leaving the bank
He said it's not common for a 66 y/o to stay away from his institution that continues to run & do well.
He doesn't sit on the board and was succeeded by two people
Segun Agbaje is more than capable of running the bank
Discussed the LERC Electricity Market Report with my team yesterday and after all said and done, we arrived at this same conclusions.
It’s the reason I think our problems are harder than rocket science.
🎥VIDEO: After the fail mass School K!dn@pp!ng incident of June 10, 2026 that led to the neutralisation of the notorious B@nd!t k!ngp!n in Iluke, Bunu Kabba/Bunu Local Govt in KOGI State, The team leader, Brigadier General Karim Sidi, commander 12 Brigade and his team have successfully exume the body of the k!11ed Bandit kingpin for autopsy.
Every time a bottle, food pack, nylon bag, or any waste is thrown from a vehicle onto the road, it may seem insignificant. However, when thousands of people do the same, our streets become littered, drainage channels become blocked, and the environment suffers.
What you throw away today can contribute to:
Flooding caused by blocked drains and waterways.
Environmental pollution and unpleasant surroundings.
Health risks from disease-causing pests and contaminated water.
Increased government spending on waste evacuation and road maintenance.
A negative image of our beautiful city.
A clean Lagos is not the responsibility of government alone - it is a duty we all share. Dispose of your waste properly, keep a waste bag in your vehicle, and use designated waste bins.
What you do: Throw waste on the road.
What you cause: Pollution, flooding, and environmental degradation.
What you should do: Keep your waste until you find a proper bin.
Keep Lagos Clean. Protect the Environment. Save Lives.
#CleanerLagos
BREAKING: ADC announces Rotimi Amaechi as the party's vice presidential candidate to Atiku Abubakar for the 2027 presidential election
Revealing the decision in a statement on Monday, the ADC National Publicity Secretary, Mallam Bolaji Abdullahi, described the Atiku-Amaechi ticket as a “unity and rescue ticket” capable of addressing Nigeria’s challenges.
A FIFA World Cup host country must guarantee two fundamental principles: the safety of the country — and the unrestricted entry of all qualified teams, officials and referees. The case of referee Omar Artan from Somalia is against one of these obligations. FIFA must never compromise the universality of football. #Fifa #Somalia #GianniInfantino #CAF #OmarAtan #DonaldTrump
These things are very desirable, but frankly, a lot of people in that business surely know the value of processing; the sad story is the economics. The economics.
Processing does not scale because the business case is extremely difficult. The industrial chain from raw cocoa seeds to finished products is long.
You need factories, machines, power, water, quality control, packaging, storage, logistics, working capital, distribution, brand, and patient capital. It is capital intensive.
Investors or entrepreneurs consider the viability of a project or business before allocating capital; it is not enough that a product has a higher selling price.
A profitable product (gross margins) may not be a profitable business (operating margins).
You will fight multiple battles at once if you are a manufacturer in Nigeria today, and these battles will limit your scale.
✑ Power is expensive
✑ Diesel is expensive
✑ cost of capital is high (and you are in an environment that hardly provides long-term capital. Very impatient capital, in fact).
✑ ports are not exactly there
✑ Logistics is expensive (look at the haulage and distribution costs of even the top manufacturing firms)
✑ The quality compliance required to make a meaningful product involves high costs
✑ On top of all of these, you then have very price-sensitive consumers.
Anyone who dabbles in such a gigantic project must be able to provide their entire infrastructure before it can work. And providing your infrastructure means some really, really serious capital—crazy one. And when you provide the infrastructure, there is still no guarantee that it will work.
Small deviation
Can we list the top manufacturing firms in Nigeria today? You can think of Nestlé, Nigerian Breweries and the likes. Those guys have been here since my father was born. And they have strong backing from foreign capital.
The ones we look up to, Dangote Cement and BUA Cement, needed the entire industry to be locked down for them to be truly successful—the same goes for Okomu and Presco.
The pattern is that Investors will only deploy capital when they are 100% sure that the industry will be locked down for them, and, as the evidence clearly shows, the value created by such industrialisation only expands inequality in society. The substance is that no concrete value is created.
Back to my gist
If we want cocoa factories (and many other manufacturing activities) to work or thrive, we must fix the conditions that cause factories to fail. At a minimum, fix the power issues.
In your free time, check out FTN Cocoa. Check out Multi-trex. Also, find out why Cadbury has not done more since it began doing business in Nigeria.
Details of constitutional amendments to provide an additional 12 women senators, 37 women representatives, and 3 women per state house via the Electoral College
Senate (Alteration of Section 48)
Original provision: The Senate consists of three Senators from each of the 36 States + one from the Federal Capital Territory, Abuja (total 109).
New provision (substituted Section 48):
• (a) Retains the original 3 Senators per State + 1 from FCT.
• (b) Adds two additional Senators from each of the six geo-political zones, who must be women and elected in accordance with the new Section 77A (via Electoral College, with rotation among States in the zone as prescribed by an Act of the National Assembly).
Key details:
• Total additional seats: 2 × 6 zones = 12 additional women Senators.
• Rotation of the extra seats among States within each geo-political zone (order, pairing, transition, etc.) to be prescribed by an Act of the National Assembly.
• The extra seats are treated as special senatorial seats for geo-political zones (delimitation rules for ordinary seats do not apply).
• Provisions take effect at the first general election after commencement and are reviewed after 16 years.
House of Representatives (Alteration of Section 49)
Original provision: 360 members representing Federal constituencies of nearly equal population (no constituency spans more than one State).
New provision (substituted Section 49):
• (a) Retains the original 360 constituency-based members.
• (b) Adds one additional member for each State and the Federal Capital Territory, who must be a woman and elected in accordance with the new Section 77A (via Electoral College).
Key details:
• Total additional seats: 36 States + 1 FCT = 37 additional women Representatives.
• The extra seats are treated as special Federal constituencies for the States/FCT (ordinary delimitation rules do not apply).
• Provisions take effect at the first general election after commencement and are reviewed after 16 years.
State Houses of Assembly (Alteration of Section 91)
Original provision: A State House of Assembly consists of 3 or 4 times the number of Federal constituencies in the State (minimum 24, maximum 40 members), divided to reflect nearly equal population as far as possible.
New provision (new subsections (2)–(4) inserted after subsection (1)):
• (a) Retains the original constituency-based members.
• (b) Adds three additional members per State, being one woman elected from each of the three Senatorial districts in the State, in accordance with the new Section 117A (via Electoral College).
Key details:
• Total additional seats: 3 women per State House of Assembly (one per Senatorial district).
• These are treated as additional special State constituencies (ordinary delimitation/size rules do not apply).
• Provisions take effect at the first general election after commencement and are reviewed after 16 years.
Common Provisions for All Special Seats (Senate, House of Reps, State Assemblies)
• Election method: Indirect election by Electoral College (not direct constituency election). INEC conducts and supervises all such elections.
• For Senate & House of Representatives (new Section 77A): A State Electoral College per State (or FCT Electoral College). Composition:
• All elected LGA Chairpersons & Vice-Chairpersons.
• All elected LGA Councillors.
• All members of the State House of Assembly.
• All House of Representatives members from the State.
• All Senators from the State.
• (FCT version uses Area Councils instead of LGAs.)
• For State Houses of Assembly (new Section 117A): Identical State Electoral College composition per State.
• Candidates: Must be women, sponsored by registered political parties. Must meet the usual qualification/disqualification rules (Sections 65/66 for National Assembly; 106/107 for State Assemblies).
• Voting: One vote per Electoral College member; secret ballot.
• Detailed rules: An Act of the National Assembly will prescribe procedures (accreditation, quorum, voting, collation, results declaration, tie-breaking, vacancies, by-elections, substitution, withdrawal, campaign finance, election petitions, transparent party nomination processes, rotation for Senate seats, etc.). The Act cannot alter the Electoral College composition set in the Constitution.
• Status of elected women: Same tenure, rights, privileges, immunities, and obligations as members elected to ordinary seats.
• Vacancies: Filled as prescribed by an Act of the National Assembly.
• Recall: Special procedure via the relevant Electoral College (petition by at least half its members → INEC verification → approval by at least two-thirds of members via secret ballot). Ordinary recall rules do not apply.
• Other consequential changes: Updates to Sections 69 (recall), 71/72 (Senatorial districts/Federal constituencies), 76/116 (election timing), 112/113 (State constituencies), 285 (pre-election matters/election petitions — “election” now includes these indirect elections), 318 (new definitions for “additional special seat”, “electoral college”, “geo-political zone”), First Schedule (new Part IA listing the six geo-political zones and their States), and Third Schedule (INEC powers now explicitly cover these special seats via Electoral College).
Explanatory Memorandum summary: The bill introduces these additional special seats for women as a temporary special measure to promote women’s representation in the legislature and strengthen inclusive governance.
2025 was a record year for NLNG’s LPG delivery.
We supplied 500,000 tonnes to Nigeria’s domestic market, our highest ever.
Together, we continue to inspire a sustainable future.
#NLNG#LPG#EnergyForNigeria
Nigeria's current interest rate is 26.50%.
Some banks charge about 30%, meaning for every ₦100k borrowed, you're expected to repay ₦130k per annum.
But @OPay_NG seems not to follow this.
Dear Opay, why are you charging ₦204k on a ₦470k loan? That's almost 50%. Why?