Spotlights
Tinubu Urges Brazil to Invest in Nigeria’s Dairy Farming, Strengthen Economic Ties

On Thursday in Abuja, President Bola Tinubu encouraged the newly appointed Brazilian Ambassador to Nigeria, Carlos Jose Areias, to make the establishment of direct flights between Nigeria and Brazil a priority.
While receiving the Ambassador’s Letter of Credence, President Tinubu recalled his discussions on the issue with Brazilian President Luiz Inácio Lula da Silva during the African Union Summit in Addis Ababa, Ethiopia, last February.
The President expressed Nigeria’s commitment to working closely with Brazil to strengthen bilateral relations and advance shared priorities, welcoming the country’s presidency of the G20 in 2024.
”We have a long history of bilateral and cultural relations with Brazil. You must see Nigeria as your second home and explore the abundant economic opportunities in the country.
”I have been talking to some of my Brazilian friends concerning the prospects of investing in dairy farming in Nigeria. We are eager to push these investments forward.
”In my recent discussions with President Lula, we agreed to energize the economic development of our two countries, and I look forward to continuing that collaboration,” the President said.
In his remarks, Ambassador Areias said President Lula is looking forward to welcoming President Tinubu to the G20 Leaders’ Summit scheduled for November 18 and 19, 2024, in Rio de Janeiro.
He also conveyed President Lula’s invitation to Nigeria to join the Global Alliance against Hunger and Poverty.
He explained that the initiative, based on the value of food security, is the main proposal of the Brazilian presidency at the G20 to eliminate extreme poverty by 2030.
”I am in a country similar to Brazil, and I feel very much at home here with the culture, music, and people of Nigeria.
”I will do whatever I can to improve Brazil-Nigeria relations. Ten years ago, the volume of trade between our two countries was in the region of $10 billion, and I will work hard to improve on the number.
”Africa is top priority for President Lula and Nigeria is the most important country for us,” the Brazilian Ambassador said.
President Tinubu also received the Letter of Credence from Ghana’s High Commissioner to Nigeria, Vice-Admiral Seth Amoama (Rtd).
President Tinubu commended Ghana’s active participation in ECOWAS and reaffirmed Nigeria’s commitment to strengthening relations with its West African ally.
”You must feel at home in Nigeria. Our doors are always open and I wish you a pleasant stay in the country,” the President told the High Commissioner and former Chief of the Defence Staff (CDS) of Ghana, who is an alumnus of the University of Ibadan and fellow of the National Defence College, Abuja.
High Commissioner Amoama expressed Ghana’s steadfast support to Nigeria’s leadership of ECOWAS Authority of Heads of State and Government.
”We will continue to support the able leadership of President Tinubu in every way possible,” the Ghanaian High Commissioner said.
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Spotlights
President Impeached For Failing to Reduce Crime

Peruvian lawmakers have taken decisive action by voting to remove President Dina Boluarte from office following widespread public dissatisfaction with the country’s escalating crime rates and ongoing political scandals.
In a late-night session held in Lima, Congress reached a majority decision to impeach the president, citing “permanent moral incapacity” as the basis for their decision. Out of the 130 members of Congress, 118 voted in favor of the motion, effectively determining Boluarte’s political fate after she declined to appear before lawmakers to present her defense.
Congress leader José Jerí immediately announced, “The president’s impeachment has been approved,” before taking the oath as interim president. He will oversee the country until new elections scheduled for April 2026.
Boluarte’s presidency, which began in December 2022, has been dogged by protests, corruption allegations, and surging gang violence. Her failure to reduce crime including rising cases of extortion and murder linked to organised groups, sparked widespread frustration among Peruvians.
She had already survived several impeachment attempts before Friday’s vote. This latest one followed weeks of demonstrations against a controversial pension reform law and outrage over reports that she accepted luxury watches and jewellery, a scandal widely known as “Rolexgate.”
Boluarte also drew criticism earlier this year for awarding herself a significant pay rise, even as unemployment and inflation worsened across the country.
As of the time of this press report, former President Boluarte remained silent on her removal, while security forces increased patrols around government buildings amid fears of renewed protests.
Spotlights
‘Stop Dancing Around’: Makinde Tutors Minister Umahi How To Calculates Cost of Lagos-Calabar Coastal Highway

Governor Seyi Makinde of Oyo State has criticised the Minister of Works, Dave Umahi, accusing him of evading questions about the cost of the Lagos-Calabar Coastal Highway project approved by President Bola Tinubu, Politics Nigeria.
Makinde, who spoke on Friday, was reacting to Umahi’s heated exchange with Arise TV presenter Rufai Oseni earlier in the week, during which the minister declined to provide a cost breakdown of the project on a per-kilometre basis.
Oseni had asked Umahi to explain the project’s cost per kilometre, a question the minister dismissed as “elementary,” insisting that the prices vary along different sections of the road and that the journalist lacked the technical knowledge to understand the process.
Umahi said, “Keep quiet and stop saying what you don’t know. I’m a professor in this field… The prices are different. The next kilometre is different from the next kilometre.”
Governor Makinde, however, defended the journalist, saying Umahi’s evasiveness was unnecessary.
“They asked a minister how much the coastal road is, and then you’re dancing around, saying the next kilometre is different from the next. Then what is the average cost?” Makinde said.
He compared the coastal project to road works executed under his administration, providing clear figures.
“When we did the Oyo to Iseyin road, it was about ₦9.99 billion for roughly 35 kilometres, an average of ₦238 million per kilometre.
“For the Iseyin to Ogbomoso road, 76 kilometres cost ₦43 billion, about ₦500 million per kilometre. And that included two bridges,” the governor explained.
Spotlights
Igbos Contributed 75% To Lagos Economy, Who Owns The Land? – Chief Uche

Chief John Uche, the inaugural president of Ohaneze Ndigbo in Lagos State, emphasised the harmonious relations and intermarriages among the Igbo community, declaring that they had successfully integrated into the social fabric of the city without any significant conflicts at the time.
He pointed out that the Igbo people have played a pivotal role in the economic development of Lagos State, attributing an impressive 75 percent of the state’s economic growth to their contributions.
In an interview with Nigerian Tribune, Chief Uche further noted the historical complexities surrounding land ownership, mentioning how the original Lagosians sold their land to the Igbo community and later contested their rights to that land. He posed a thought-provoking question, asking, “Who truly owns the land?”
He said: “The Igbo intermarried and mingled without any crisis. We contributed to the growth of Lagos State. Our contribution is not less than 75 percent of the economy of Lagos State. They sold their land to us and later come to tell me that we are not land owners. Who owns the land?”
Spotlights
139 Million Nigerians Live in Poverty: Presidency Hits Back At World Bank Over Misleading Report

The Presidency has faulted the World Bank’s latest economic report, which estimated that about 139 million Nigerians are living in poverty, describing the figure as exaggerated and disconnected from the country’s prevailing realities.
The new figure by the organisation represents an increase from 129 million in April 2025.
President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, in a statement posted on his official X handle on Wednesday, said the World Bank’s poverty estimate must be “properly contextualised” within the framework of global poverty measurement models.
“While Nigeria values its partnership with the World Bank and appreciates its contributions to policy analysis, the figure quoted must be properly contextualised. It is unrealistic,” Dare said.
According to the Presidency, the global lender’s estimate was based on the $2.15 per person per day international poverty line, set in 2017 using Purchasing Power Parity (PPP). It said the figure should not be mistaken for an actual headcount of poor Nigerians.
The statement explained that, when converted to nominal terms, the $2.15 benchmark equals about N100,000 per month at the current exchange rate, which is significantly higher than Nigeria’s new minimum wage of N70,000. It added that the PPP methodology relies on historical consumption data—Nigeria’s last major household survey was conducted in 2018/2019—and often fails to account for the large informal and subsistence sectors that sustain millions of Nigerian families.
“There must be caution against interpreting the World Bank’s numbers as a literal, real-time headcount,” the Presidency said. “The figure is an analytical construct, not a direct reflection of local income realities.”
The Presidency, therefore, described the World Bank’s estimate as a modelled global projection rather than an empirical reflection of living conditions in 2025. Dare stressed that the administration’s focus was on changing the trajectory, not debating static figures, adding that Nigeria’s economy was now on a recovery and reform path aimed at achieving inclusive growth and social protection.
He noted that the administration has expanded a number of social welfare and economic initiatives under the Renewed Hope Agenda to cushion the impact of recent reforms while laying the foundation for long-term prosperity. These, he said, include the Conditional Cash Transfer programme, which now covers 15 million households nationwide with digital verification through the National Social Register; the Renewed Hope Ward Development Programme targeting all 8,809 electoral wards with micro-infrastructure and social projects; and the strengthening of National Social Investment Programmes such as N-Power, GEEP micro-loans, and school feeding schemes to support jobs, businesses, and education.
He further cited food security initiatives involving the distribution of subsidised grains and fertilisers, mechanisation partnerships, and the revival of strategic food reserves to stabilise staple prices. The Renewed Hope Infrastructure Fund, he said, is financing key road, housing, and power projects to lower living costs and create jobs, while the National Credit Guarantee Company is expanding affordable credit access for small businesses, women, and youth entrepreneurs through risk-sharing arrangements with commercial banks.
The Presidency maintained that the Tinubu administration was tackling Nigeria’s poverty challenge by addressing the structural distortions that have constrained productivity and inclusive growth for decades. It explained that ongoing reforms such as the removal of fuel subsidy, exchange rate unification, and fiscal reallocation of funds toward productive sectors were “painful but necessary choices” aimed at fixing the root causes of poverty rather than its symptoms.
It noted that even the World Bank had acknowledged that these reforms are already restoring macroeconomic stability and growth momentum. The government emphasised that economic recovery alone is not enough unless it translates into real welfare gains for ordinary Nigerians. According to the statement, the administration’s medium-term priority is to ensure that macroeconomic stability leads to affordable food, quality jobs, and reliable infrastructure.
It added that major investments were underway in agriculture, manufacturing, and power, including new gas-to-power projects and skill development hubs expected to boost job creation and reduce living costs. “Nigerians should begin to feel visible improvements in food prices, income, and purchasing power as these programmes mature,” the statement said.
The Presidency also revealed that efforts were ongoing to consolidate the nation’s social protection architecture under a unified, data-driven framework to enhance transparency and ensure that no vulnerable community is left behind. It said the administration was expanding the National Social Register and scaling up existing social investment schemes to provide targeted support to poor households.
The Presidency reaffirmed President Tinubu’s commitment to building a resilient and inclusive economy that directly improves living standards. “Nigeria rejects exaggerated statistical interpretations detached from local realities. The government remains focused on empowering households, expanding opportunity, and laying the foundation for a fairer, more prosperous nation,” the statement said.
Earlier on Wednesday, the World Bank released its October 2025 Nigeria Development Update titled “From Policy to People: Bringing the Reform Gains Home.” The Bank’s Country Director for Nigeria, Mathew Verghis, warned that about 139 million Nigerians were living in poverty despite recent economic stabilisation efforts.
Verghis commended the Tinubu administration for implementing bold reforms in the exchange rate and petroleum subsidy regimes, describing them as “foundational” steps that could transform Nigeria’s long-term economic trajectory.
“Over the last two years, Nigeria has commendably implemented bold reforms, notably around the exchange rate and the petrol subsidy. These are the foundations on which the country has the opportunity to build a programme that can transform its economic trajectory,” he said.
However, he cautioned that while the reforms were yielding macroeconomic improvements—such as rising revenues, stable reserves, and easing inflation—the benefits had yet to reach most Nigerian households. “Despite these stabilisation gains, many households are still struggling with eroded purchasing power. Poverty, which began to rise in 2019 due to policy missteps and external shocks such as COVID-19, has continued to increase even after the reforms. In 2025, we estimate that 139 million Nigerians live in poverty,” Verghis added.
Spotlights
N210 trillion Audit Gaps: NNPCL Responds To Senate Queries

The Senate Committee on Public Accounts has confirmed that the Nigerian National Petroleum Company Limited (NNPCL) has formally responded to 19 audit queries concerning discrepancies amounting to N210 trillion in its financial records between 2017 and 2023, as reported by Nairametrics.
Chairman of the Committee, Senator Aliyu Wadada, disclosed this in Abuja during an interview with journalists, clarifying that while the NNPCL’s response has been received, the committee has not yet scrutinized the submitted documents in detail.
Wadada explained that the NNPCL had earlier requested an extension after being directed by the committee on July 29 to provide answers within three weeks.
The company’s management, led by Chief Executive Officer, Bayo Ojulari, sought more time to compile comprehensive data and respond to the audit queries — a request that the Senate committee granted.
“While we were on recess, management of NNPCL wrote to the committee, requesting an extension of time to enable them to compile data and respond comprehensively to the questions we raised, and we granted that request.
“They have since responded, and we now have answers to all 19 questions we sent to them; however, the report is yet to be presented before the committee.
“That is why, as chairman, I have refrained from making any public statement on the matter until it is properly laid before members.
“But let me assure you, as I promised earlier on behalf of the committee, we will do justice to the matter.”
He said that beyond the audited financial statements, there were other issues emerging around the NNPCL.
According to him, the first of such issues is production sharing contracts.
“Specifically, the production cost to Nigeria must be clearly defined, and the public deserves to know what portion goes to the NNPCL, what goes to the international oil companies (IOCs) and what accrues to the government under the production sharing arrangement.
“Furthermore, the committee has been informed that NNPCL Retail has declared a loss.
“This development is also of concern to us and to the public. We find it difficult to understand why NNPCL retail should record a loss, but we will seek clarification when the corporation appears before us.
“As far as the audited financial statements are concerned, which cover the period between 2017 and 2023. NNPC has submitted its responses to the 19 questions we asked. Nigerians and the media will be informed of the contents in due course.
“Out of those answers, the ones that make sense and those that do not will be evident to the public”, he stressed.
In July, the Senate gave the NNPCL a 21-day deadline to respond to audit queries involving an unaccounted N210 trillion flagged in the Auditor-General’s reports covering 2017 to 2023.
The audit queries involve N103 trillion in liabilities and N107 trillion in assets yet to be reconciled, based on audited financial statements and not allegations from any government arm.
Earlier in July 2025, Ojulari failed to appear at a scheduled hearing, citing an OPEC meeting in Vienna. The committee rejected a presentation made by NNPCL’s Chief Financial Officer, Dapo Segun, insisting that only the GCEO could address the queries as reported by Nairametrics.
In June, the Senate said that it might be compelled to issue an arrest warrant if Ojulari failed to appear on the said date.
Spotlights
Certificate Scandal: Why I Choose To Step Aside – Nnaji Reveals Two Reasons

Former Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, said the decision to resign from office was a personal and principled choice aimed at preserving the integrity of ongoing judicial proceedings, not an admission of guilt.
In a statement, Nnaji said he chose to “step aside” to respect the sanctity of due process and allow justice to take its course.
“My decision to step aside is therefore a personal choice not an admission of guilt, but rather a principled decision to respect the sanctity of due process and to preserve the integrity of the judicial proceedings currently before the court. In the end, justice will prevail, and history will vindicate the just,” he said.
The former Minister lamented what he described as an orchestrated, politically motivated campaign of falsehoods targeting his person and office over the past week.
He said the malicious attacks and media distortions had caused personal distress and begun to distract from the work of the Ministry and the Tinubu administration’s Renewed Hope Agenda.
“As someone who has spent more than five decades building a reputation anchored on hard work, honour, and service to humanity, I cannot in good conscience allow these distractions to cast a shadow over the noble objectives of this administration,” he stated.
Nnaji expressed appreciation to President Bola Ahmed Tinubu for the opportunity to serve and reaffirmed his commitment to supporting the President’s vision of a “renewed, innovative, and technologically driven Nigeria.”
“His vision for a renewed, innovative, and technologically driven Nigeria is one I continue to hold dear, and I pledge my unflinching support to his administration and its transformative goals,” he added.
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