Asiwaju Bola Ahmed Tinubu

By Muhammad Abubakar

The Federal Government has renamed the PTDF College of Petroleum and Energy Studies in Kaduna in honour of the late Nigerian statesman, Shehu Musa Yar’Adua.

According to a statement issued by the management of the Petroleum Technology Development Fund (PTDF), the institution will now be known as the General Shehu Musa Yar’Adua University of Geological Sciences and Engineering Technology. The renaming follows a presidential directive by Bola Ahmed Tinubu.

PTDF said the decision recognises Yar’Adua’s contributions to national unity and Nigeria’s democratic development. The fund assured stakeholders that all academic programmes, partnerships, and institutional operations would continue without disruption under the university’s new identity.

The institution is expected to maintain its focus on research, specialised training, and engineering technology development aimed at supporting Nigeria’s oil, gas, and renewable energy sectors.

By Lawal Dahiru Mamman

On 29 May 2023, President Bola Ahmed Tinubu used his inaugural address to sever Nigeria’s decades-long dependence on fuel subsidies. It was a definitive end to a fiscal drain that had consumed trillions of naira annually, a broken system that long benefited smugglers, middlemen, and the elite far more than ordinary citizens.

Three years into this economic regime change, the ledger presents a duality. While the policy has successfully unlocked unprecedented nominal revenues for the Federation Account, its real-world impact remains polarising.

As the nation reflects on the administration’s third anniversary in 2026, the question changes from whether the subsidy needed to go to who is actually winning from its absence.

In reality, the elimination of the subsidy did not result in a dedicated, untouchable savings account. Instead, it stopped a bleeding artery by wiping out the ₦4–5 trillion annual “under-recovery” losses previously absorbed by the Nigerian National Petroleum Company Limited (NNPCL).

Consequently, direct remittances to the Federation Account Allocation Committee (FAAC) have increased to historic highs. In 2024, annual savings reached roughly $7.5 billion, which translates to approximately ₦12 trillion at prevailing rates. This drove a 79% jump in total FAAC disbursements, skyrocketing from ₦16.28 trillion in 2023 to ₦28.78 trillion in 2024, with sub-national governments swallowing ₦15.26 trillion of that pool.

The momentum carried firmly into 2025, yielding an estimated $7–8 billion in savings. In the first quarter of 2025 alone, federal petroleum savings surged by over 500%, leaping from ₦154 billion to ₦836 billion. State governments have been the primary beneficiaries of this windfall, utilising the massive inflows to clear ₦1.85 trillion in backlogged debts, stabilise payrolls, and kickstart stalled regional projects.

While a November 2025 National Orientation Agency (NOA) policy document claims that over $84 billion has been saved and channelled into 40 road projects, independent macroeconomic realities suggest that this cumulative figure is mathematically improbable over a two- to three-year window. The actual cumulative benefit more closely aligns with World Bank estimates ranging between ₦11 trillion and ₦20 trillion, heavily caveated by severe naira depreciation.

Because these funds flow directly into general revenue pools rather than a ring-fenced fund, precise tracking has become an administrative nightmare. This lack of transparency has triggered fierce pushback from civil society organisations such as SERAP and BudgIT, which demand that states account for their newfound wealth rather than sink it into urban aesthetics or overheads.

The federal government has defended the pain of the reform by pointing to vital interventions across key sectors. In the immediate aftermath of the announcement, an initial ₦5 billion per state and the FCT was deployed via grants and loans for food and fertiliser distribution to cushion the shock.

Social safety nets saw a modest boost, with ₦3.2 billion allocated to expand conditional cash transfers through the National Social Register.

On the human capital front, the Nigerian Education Loan Fund (NELFUND) has disbursed ₦206.29 billion to over 1.1 million student beneficiaries. While NELFUND is technically funded via the Development Levy, the subsidy removal created the fiscal breathing room necessary to establish it.

Massive shifts have also been targeted toward transit and structural development. Over ₦100 billion has been injected into the Presidential Compressed Natural Gas (CNG) Initiative to build conversion centres and roll out mass transit buses.

Increased liquidity has sustained funding for critical federal projects, including the Lagos–Calabar Coastal Highway, the Abuja–Kano Road, the Kano–Maradi rail line, and a $1 billion modernisation commitment for key seaports like Apapa, Tin Can, and Calabar.

Furthermore, a massive portion of the savings has been absorbed by debt servicing, exceeding ₦15 trillion in recent budget cycles. While this aggressive rebalancing crowds out routine capital expenditure, it narrowed the fiscal deficit from roughly 5.4% to 3.0% of GDP, effectively averting a total sovereign bankruptcy.

Despite the triumphant-looking government balance sheets, the microeconomic reality for the average Nigerian is brutal. The savings on paper feel a world away from the hardships on the ground, creating a paradox between macro-stabilisation and micro-deprivation.

The most devastating blow has been the cost-of-living crisis. Fuel prices ballooned from under ₦200 to over ₦1,300 per litre across the federation, unleashing a wave of transportation and food inflation that has left millions of households financially insecure.

At the same time, citizens watch trillions of naira being unlocked, only to see it swallowed by prior borrowing patterns and rising interest costs, while the government’s appetite for fresh debt remains stubbornly high. This problem is compounded by severe currency depreciation and inflation.

In nominal terms, FAAC allocations are setting records at ₦2–3 trillion per month. In real terms, however, rampant inflation and a weakened naira mean this money buys far less infrastructure, healthcare, and education than it would have three years ago.

Bottom Line

Three years on, the structural necessity of President Tinubu’s May 2023 declaration is undeniable; it freed Nigeria from a fiscal death trap and dismantled an unsustainable system. Yet, the victory remains largely confined to government ledgers.

For the man on the street, the benefits of the reform have been thoroughly muted by inflation, currency devaluations, and execution gaps.

The fundamental challenge of Nigerian governance remains unresolved: the inability to translate state wealth into public welfare efficiently. As the calendar turns deeper into 2026, public trust is running thin.

If this reform is to be remembered as a historic transformation rather than just a massive tax hike on the poor, the government must shift from celebrating nominal revenue milestones to delivering tangible, unmistakable improvements in its citizens’ daily lives. The sacrifices have been made; it is time for the dividends to appear.

Lawal Dahiru Mamman writes from Abuja, and he can be reached via: dahirulawal90@gmail.com.

By Anwar Usman 

Operatives of the Economic and Financial Crimes Commission have arrested Mustapha Abdullahi, the DG of the Energy Commission of Nigeria, on allegations of money laundering and related offences.

A source within the anti-graft agency, who spoke on condition of anonymity because he was not authorised to speak on the matter, disclosed on Wednesday that the DG was arrested in Abuja and is currently in the commission’s custody.

According to the source, the alleged fraud involves funds estimated at N500bn.

“We have arrested the Director-General of the Energy Commission of Nigeria, Dr Mustapha Abdullahi, for money laundering offences. He was arrested and is currently in our custody. The money is to the tune of N500bn,” the official said.

The Daily Reality gathered that efforts to get confirmation from the EFCC spokesperson, Dele Oyewale, were unsuccessful as he could not be reached as of the time of filing this report.

On October 24, 2023, President Bola Tinubu appointed Abdullahi as Director-General of the Energy Commission of Nigeria.

By Aremu Haroon Abiodun

Let me begin with clarity and sincerity. I write this not as a partisan actor, not as a loyalist of any political party, and certainly not as a hired megaphone for any candidate. I write from the standpoint of an analyst, a student of democratic behaviour, and a public relations strategist who understands that politics is not only about power; it is also about perception, timing, trust, and structure.

This piece is not designed to insult President Bola Ahmed Tinubu, attack the ruling APC, mock the opposition, or discredit any politician. Rather, it is an honest attempt to interrogate one of the most defining questions of Nigeria’s approaching democratic race: Is the new coalition a movement of salvation or merely a market of ambition?

In every democracy, coalitions can either rescue nations or ruin trust. In Africa, where democracy is still battling poverty, elite capture, and personality politics, the answer matters deeply. Across the continent, from Kenya to South Africa, Senegal to Zimbabwe, fragmented opposition groups often unite to challenge incumbents. Sometimes they succeed; sometimes they collapse under the weight of ego and suspicion.

Coalitions are usually built on five promises: to rescue the nation, restore democracy, defeat bad governance, unite the opposition vote, and provide a better alternative. But behind these promises often lie hidden motives: personal ambition, ticket negotiation, political survival, revenge against former allies, and access to state power. This is why many coalitions look holy in public but bleed distrust in private.

Nigeria may now be entering that exact season. The African Democratic Congress (ADC), once a relatively minor platform, is suddenly being discussed as a possible shelter for heavyweight politicians dissatisfied with their former homes. But before Nigerians clap, they must ask a dangerous question: Do the coalition members even trust themselves? 

Parties are not built by logos; they are built by loyalty, and loyalty cannot be photocopied overnight.

Nigeria’s politics has become a railway station where leaders keep changing platforms while asking voters to stay loyal.

President Bola Ahmed Tinubu did not emerge by accident. His journey moved through the AD, AC, ACN, and finally the APC. He mastered a core truth that many others underestimated: structure beats noise.

While others chased headlines, Tinubu built networks, state influence, and grassroots machinery. Whether loved or criticised, he represents a masterclass in long-term political engineering.

Atiku’s route has been equally dramatic, moving from the PDP to the APC, back to the PDP, and now toward discussions with ADC. No politician in modern Nigeria has contested the presidency with as much persistence. 

Supporters call it resilience; critics call it endless ambition. But as time moves on, the ADC coalition may represent strategic urgency rather than just ideology, a final gamble in a house where the inheritance is uncertain.

Peter Obi’s path from APGA to the PDP, the Labour Party, and now ADC tells the story of a reformer searching for a machine. Obi proved in 2023 that popularity can shake systems, but popularity without nationwide structure has limits. 

If Obi brings credibility and a coalition brings machinery, the equation is powerful. However, can a reformist brand coexist with old political warlords? Movements are powered by hope, but coalitions are powered by compromise.

Moving from the PDP to the APC, the NNPP, and now the ADC, Kwankwaso commands a loyal bloc in the North. He has what every coalition needs—a dedicated voter base—but he also has what coalitions fear: independent ambition. The success of any merger will depend on whether arithmetic can overcome ego.

The urgency for a coalition is often driven by the stark reality of election data. In Nigeria’s 2023 presidential election, the opposition’s fragmentation was clear. President Bola Ahmed Tinubu won with 8,794,726 votes (36.6%), while the combined votes of the three main opposition candidates, Atiku Abubakar (6,984,520), Peter Obi (6,101,533), and Rabiu Kwankwaso (1,496,687), totalled 14,582,740.

Mathematically, the opposition held over 60% of the total vote, but their inability to unite resulted in a win for the incumbent’s structure. This “voter math” is the primary engine behind the current migration toward the ADC; politicians realise that without a unified front, sentiment rarely defeats a settled structure.

Having that in mind, can Atiku trust Obi? Can Obi trust establishment figures? Can Kwankwaso trust a ticket arrangement? Coalitions often fail not because they lack votes, but because they lack trust.

Sooner or later, the “Ticket War” arrives. If Atiku wants one last shot, Obi believes his momentum was stolen, and Kwankwaso believes northern arithmetic favours him, the smiles will disappear. A coalition before a primary is romance; a coalition after a primary is war.

Furthermore, many underestimate the “Tinubu Factor.” Hatred of an incumbent is not a development plan. Tinubu remains a formidable strategist because he controls incumbency power and understands coalition management better than many of his rivals. To defeat a strategist, anger is insufficient, but superior organisation could be the way out.

From a strategic communication perspective, the narratives are already forming. APC’s narrative centres on stability, continuity, and ongoing reforms. ADC represents a force for “Rescue Nigeria,” unites the opposition, and restores hope.

Both parties face a risk. The ADC risks being seen as a shelter for serial defectors, while the APC risks seeming disconnected from economic pain.

Lastline 

Nigeria does not merely need a coalition of politicians; it needs a coalition of ideas, competence, and national healing. If the ADC becomes a real reform movement, it can change history. If it becomes only a marketplace of ambition, it will prove that parties change names faster than systems change realities.

The real contest of 2027 may not be APC vs. ADC. It will be structure vs sentiment, trust vs suspicion, and nationhood vs ambition. On that day, Nigerians, not politicians, will deliver the final verdict on who rules in the next four years.

Haroon Aremu is a public relations strategist and wrote in via exponentumera@gmail.com.

By Muhammad Abubakar

The Federal Executive Council has approved contracts totaling $2.99 billion for the construction of three major rail projects across Nigeria.

Announced by Minister of Finance Taiwo Oyedele, these projects aim to boost economic development and improve the quality of life for daily commuters.

The approved infrastructure specifically covers Phase 1A of the Lagos Green Line rail project, the Kano Metro rail project, and the Kaduna light rail system. The target cities were selected by the council due to their strategic importance as major national economic hubs.

The projects will be funded through the Ministry of Finance Incorporated on behalf of the federal government, with active support from standard counterpart funding arrangements.

Government authorities maintain that these major corridors will unlock job opportunities, alleviate heavy traffic gridlocks, and attract stronger local and foreign investments to the regions.

By Muhammad Abubakar

Kenyan President William Ruto has clarified that his recent remarks suggesting Kenyans speak better English than Nigerians were made during a private conversation that was leaked and taken out of context.

The comments had sparked light-hearted banter on social media between Kenyans and Nigerians, drawing widespread reactions from both countries.

Speaking on Tuesday at the Kenya Mining Investment Conference 2026 in Nairobi, Ruto struck a conciliatory tone, emphasising that Nigerians speak “excellent” English, just as Kenyans do.

The event was attended by a Nigerian delegation, including the Minister of Solid Minerals, Henry Dele Alake.

Ruto’s remarks appeared aimed at easing tensions and reinforcing cordial ties between the two nations following the online exchanges triggered by the earlier statement.

By Daniel Nduka Okonkwo

Nigeria’s debt clock has surged to ₦159.28 trillion, a figure that translates to roughly ₦724,000 per citizen when spread across a population of more than 220 million. This arithmetic alone underscores the scale of the nation’s obligations. While official voices emphasise that the debt-to-GDP ratio remains within accepted thresholds, the underlying reality is sobering: the country’s current account is being financed through persistent domestic borrowing and mounting external debt. Each statistic is a reminder that today’s fiscal gaps are tomorrow’s responsibilities, with the burden of development increasingly shifted onto generations yet unborn.

Is there a way out for Nigerians? The path forward demands more than borrowed billions. It requires a fundamental reassessment of how resources are managed, how revenue is diversified, and how structural weaknesses are addressed. While the figures may suggest sustainability on paper, the lived reality reflects rising costs, shrinking opportunities, and a future increasingly tied to creditor obligations. Breaking this cycle will require bold reforms, transparent governance, and a commitment to building an economy driven by productivity rather than dependence on borrowing.

When distributed across the population, the debt translates to roughly ₦700,000 to ₦725,000 per citizen. This figure is only a statistical illustration and not a legal obligation on individuals. Public debt remains a sovereign responsibility shared by the Federal Government, state governments, and the Federal Capital Territory, and it is serviced through public revenue rather than direct payments by citizens.

As of late 2025, Nigeria’s total public debt stood at approximately ₦159.28 trillion, equivalent to about $103 billion to $111 billion depending on the exchange rate applied. This represents an increase from about ₦144.7 trillion in 2024, reflecting continued reliance on borrowing to finance fiscal deficits.

Nigeria’s debt stock consists of both domestic and external borrowing. Domestic debt is estimated at ₦84-₦85 trillion, while external debt stands at ₦74 trillion. Persistent budget deficits have driven the growth in total debt, increased domestic borrowing through treasury bills and government bonds, and led to exchange rate depreciation, raising the value of the naira against external obligations. By mid-2025, total debt had reached about ₦152.39 trillion before rising further to ₦159.28 trillion by year-end.

Debt servicing remains a more pressing concern than the size of the debt itself. In 2025, debt servicing costs rose to approximately ₦15.8 trillion, up from about ₦12.8 trillion in 2024. Higher interest rates on domestic debt instruments largely drove this increase. Servicing costs for domestic debt rose sharply due to increased yields on treasury bills and Federal Government bonds. At certain points in 2025, the debt service-to-revenue ratio exceeded 80 per cent, meaning that a substantial portion of government revenue was used to service existing debt.

Looking ahead, Nigeria’s 2026 fiscal outlook reflects continued pressure on public finances. The proposed budget projects total expenditure of about ₦58.5 trillion against expected revenue of approximately ₦33.2 trillion, leaving a fiscal deficit of about ₦25 trillion. This gap is expected to be financed largely through additional borrowing, which could push total public debt beyond ₦160 trillion.

Planned borrowing includes external loans estimated at $6 billion, along with an additional $516 million under consideration. However, claims suggesting approvals equivalent to ₦68 trillion appear inconsistent and are likely the result of conversion or reporting errors rather than actual borrowing approvals.

The comparison between Nigeria’s per capita debt of roughly ₦724,000 and the national minimum wage of ₦70,000 is largely symbolic but highlights deeper economic realities. It reflects low-income levels, rising cost of living, and mounting pressure on public finances. It does not imply that citizens are personally responsible for repaying the debt.

Nigeria’s debt-to-GDP ratio, estimated at 35 per cent to 37 per cent, remains below the commonly referenced 60 per cent threshold. However, experts consistently stress that revenue constraints, rather than debt size alone, represent the country’s most significant fiscal risk.

Key concerns include the high share of revenue devoted to debt servicing, limited fiscal space for critical sectors such as infrastructure, health, and education, and potential inflationary risks if deficit financing continues to expand. Exchange rate volatility also affects the dollar value of external debt, adding further complexity to fiscal management.

Nigeria’s public debt, now approaching ₦160 trillion, is not excessive relative to GDP. However, the cost of servicing that debt and the country’s limited revenue base present a growing fiscal challenge. The per capita framing helps illustrate the scale of the burden, but the central issue remains how effectively borrowed funds translate into economic growth and improved living conditions.

As borrowing continues, the sustainability of Nigeria’s fiscal path will depend less on the amount owed and more on how effectively the economy generates the revenue required to support those obligations.

Daniel Nduka Okonkwo is a Nigerian investigative journalist, publisher of Profiles International Human Rights Advocate with Daniels Entertainment, a policy analyst, and human rights activist. He writes from Nigeria and can be reached at dan.okonkwo.73@gmail.com.

By Muhammad Abubakar

The Nigerian Senate has confirmed the appointment of Muttaqha Rabe Darma as a minister in the federal government following his screening by lawmakers.

Darma was nominated earlier this week by President Bola Ahmed Tinubu to replace Ahmed Musa Dangiwa as Minister of Housing and Urban Development.

During the screening, Darma addressed questions on Nigeria’s housing deficit and urban renewal strategies, pledging to collaborate with relevant stakeholders to meet government targets in the sector.

A seasoned administrator, Darma holds two doctoral degrees and previously served as Secretary and Chief Executive Officer of the Petroleum Technology Development Fund (PTDF).

By Ibrahim Yunusa 

President Bola Ahmed Tinubu has formally requested the National Assembly’s, specifically the Senate’s, approval for a new external loan of $516 million to support key government projects and address fiscal needs.

The loan request, communicated to the Senate leadership, is expected to be deliberated on in the coming days.

 According to sources within the presidency, the proposed borrowing is intended to finance critical infrastructure, boost economic growth, and stabilise public finances amid ongoing economic challenges.

If approved, the loan will form part of Nigeria’s broader borrowing plan under the current administration, which aims to balance developmental needs with fiscal responsibility. However, the request may spark debate among lawmakers, given rising concerns over Nigeria’s debt profile and repayment capacity.

The Senate is expected to review the proposal in line with constitutional provisions before granting or withholding approval. Further details on the specific projects to be funded are anticipated to emerge as deliberations progress.

By Saifullahi Attahir

The desperation to fail President Bola Ahmed Tinubu by some politicians and their consistent attempt to recruit others into believing their rhetoric will always be an anticipated issue in the realm of politics, but whenever myopic outlooks like sectarianism, blame games, and regionalism are used, that’s what irritates my conscience into responding at the expense of whatever others may label me. What I believe is to stand for what I think is right, even if I have to stand alone.

The level of those campaigns was to the extent that you can’t say anything good about the Tinubu government without being portrayed as anti-North or even a heretic. This is preposterous!

Politics should not be built on emotions, and governance should not be like inheritance, where no matter who it is, if they’re not your kinsmen, all is not well. This is not the original personality of a typical Northerner. 

I’m not a party card-carrying member but an ordinary student, so I have the liberty to express my views based on my limited understanding. I would like to address the issue of labelling every project undertaken by President Tinubu as nepotistic, especially when it is situated in the South-West. 

Let me give an example with the recent trip President Tinubu led to the United Kingdom, where he secured a deal to revamp the Tin Can and Apapa ports in Lagos. Sealing a deal to revamp Tin Can and Apapa ports should be viewed with such an open mind as a national investment. Lagos would remain the economic bloodline of this country for the time being, hence supporting its economic growth. 

Among the notable achievements of even the most pro-Arewa leaders, like the late Gen. Murtala Ramat Muhammad, during his short stint, was the decongestion of the Lagos Apapa port led by the famous brig. Benjamin Adekunle (The Scorpion).  

I’m not promoting the idea of continuing channelling of funds to develop Lagos at the expense of other regions, but it would be absurd when overnight we heard the FG seal a deal to start importing goods through Niger-Maradi or the Lake Chad basin or create artificial ports in the North linking us to the transatlantic trade (it’s possible, but not overnight like in Libya or the UAE).

The North should have focused more on ensuring that fighting illiteracy included at least a mandatory universal secondary school education with skills. The ‘right education’ would solve 60% of all this menace. 

An enlightened self would not be used as a tool to create and perpetuate insecurity in the form of banditry and suicide bombings. An ignited mind wouldn’t be fertile ground for sectarian conflicts. You can’t woo an educated person into choosing a leader whose focus is to distribute spaghetti.

We should accept the fact that the North is a landlocked region. We are surrounded by Niger, Cameroon, and Chad. We have our own priorities that, if well executed, can boost the regional economy. Comparing ourselves to Lagos wouldn’t help matters. Lagos was an island inhabited by whites centuries ago. It was the former national capital for almost thirty years and home to almost all the country’s major industries. 

As to the second part of the rhetoric, which was also the ultimate agenda, to wrest power from President Tinubu and hand it over to another ‘Arewa politician’. Governance returning to Arewa would never be our solution. This was tried in 2015 by removing Jonathan through every possible means, only to regret a similar decision less than 4 years later.

A bitter truth to swallow was that, since our return to democracy in 1999, leaders from the South-West have proved to contribute more to issues of national development. Former President Olusegun Obasanjo’s 8 years would always be remembered for bringing a near-normal political stability to the country, improved national security, an improved economy, the cancellation of national debt, improved foreign relationships, the introduction of several empowerment programmes, the introduction/subsidisation of telecommunications, and a decisive leadership unparalleled when compared to late President Buhari’s 8 years of bewilderment.

It’s not about Tinubu prioritising Lagos and intentionally killing Arewa. The seed of sustainable national development was sown long ago, when Awolowo’s Action Group was fighting for universal education and ideological politics in their region, while our NPC was busy seeking alliances to dominate the Parliament. It’s better to hold our governors more responsible instead of the federal government.

Between 2007 and 2015, the Southwest Governors (Aregbesola, Fashola, Mimiko, Adams Oshiomhole, etc.) used their opposition to create massive developmental programmes for their region, consolidate power around the leading opposition figure, Tinubu, and enhance their regional security, while we were busy trying to wrest power from Jonathan.

To the question of ‘Arewa-2027′, who should be the candidate? The inconsistent Baba Atiku, or politicians renowned for vengeance politics, or those lacking an accommodating mind for others to win national elections, or politicians without international exposure? Tinubu is not the ideal for Nigeria, but the aforementioned politicians are no match for his governance track record as governor and, 2 years into the presidency, as president.

The current insecurity menace is a testament to how one man is incapable of addressing it. Many among the top security brass are from the North: the NSA, the Federal and State Ministers of Defence. In a region with the highest illiteracy rate, things worse than this could happen. Spaghetti and religious affiliation can woo the masses to vote for a candidate.

We should focus better on finding the RIGHT MAN rather than on which part of the country he came from.

Saifullahi Attahir is the President of the National Association of Jigawa State Medical Students (NAJIMS) National Body. He wrote this piece from the Rasheed Shekoni Federal University Teaching Hospital, Dutse, via saifullahiattahir93@gmail.com.