Economy

Delta APC Backs Uduaghan, Says PDP, Okowa Will Lose 2019 Poll

Published

7 years ago

05/09/2018

By Dipo Olowookere

The All Progressives Congress (APC) in Delta State has come in defence of the immediate past governor of the state, Dr Emmanuel Ewetan Uduaghan, over a statement ascribed to him that the “APC will wrest power from the PDP in 2019” which has come under attack by the ruling party in the state, Peoples Democratic Party (PDP).

In a statement signed by its Secretary, Comrade Okonji Chidi, on Tuesday, entitled “OKOWA AND PDP: EAT THE HUMBLE PIE AND BURY YOUR HEAD IN SHAME” and made available to our correspondent, the party berated the Okowa administration, saying that “every discerning mind in Delta State knows that the PDP government is a total sham”.

Read full statement below:

The All Progressives Congress, (APC) in Delta State read with pity the hogwash put together by the Delta State Chapter of the Peoples Democratic Party, dismissing the assertion by former governor of the state and revered chieftain of the APC, His Excellency, Dr. Emmanuel Eweta Uduaghan that the APC will wrest power from the PDP in 2019.

Every discerning mind in Delta State knows that the Okowa administration is a total sham, an administration that have failed in all sectors. The assertion is actually the reality on ground. The PDP which the governor claimed is “still strong and formidable” has been decimated long before now, right from 2015 when those who knew Okowa very well as an ethnic bigot and a very vindictive fellow decided to dump him. It was not the making of His Excellency, Emmanuel Uduaghan that respected chieftain like former Speaker, Rt. Hon (Barr) Victor Ochei who also know Okowa in and out dumped him and his shattered PDP.

The defection of Dr. Uduaghan to the APC which is currently shaking the political landscape and causing the PDP and Governor Okowa high fever is just the icing on the cake when they will eventually loss the 2019 governorship elections and many House of Assembly, House of Representatives and Senate seats to the All Progressives Congress, (APC).

Now that Deltans know that Okowa is a failure, will it not be better for him to eat his humble pie and start preparing his hand over note? Because if Okowa and his drowning party, PDP actually know what has befall them, they would not be jumping here and there thinking the former governor, Uduaghan is their problem. Okowa’s ouster has been in the drawing board since well-meaning and respected Deltans who were ready to work with him realized he was a deceitful fellow.

It is foolhardy for Dr. Ifeanyi Michael Osuoza State Publicity Secretary of PDP to say “when it comes to politics and elections in Delta State, Dr. Uduaghan should realise that he is less than a featherweight”. This are assertion of a party in self-pity. A former governor in capacity of Dr. Uduaghan, remains a heavyweight political figure in Delta politics in and out of government that’s why the PDP and Okowa would continue to break their head over the devastating blow and impending defeat awaiting them in 2019.

For their information, when the defection of Dr. Uduaghan who Governor Okowa de-marketed and tried to discredit became imminent, APC catch on it and started wooing him because we know the value-added advantage he will bring to our party and our avowed determination to send incumbent governor packing in 2019.

“Governor Okowa thinks he is “smart”, he thinks he can outsmart every Deltan that’s why he is always coming out with policies that are anti-people like his fraudulent “Contributory Health Insurance Scheme” which has been adjudged in the media as scam and fraud”.

There is a saying that; “he that the gods want to destroy, they first make mad”. Governor Okowa and PDP are behaving like mad dogs already in everything they are doing, including press releases they have been issuing over what Dr. Uduaghan did to them and we as a party, have the antidote that would silent them forever in Delta State.

Imagine, Osuozu giving away information that Deltans know are exactly what Governor Okowa represents. According to Osuosu, “Out of sheer arrogance and vaulting ambition, he estranged many PDP members with his bad leadership style and worked hard to frustrate and impoverish many of them” which he dashed out while trying to denigrate Dr. Uduaghan but every discerning Deltan is aware that the aforementioned were the exact style of leadership laced with fraud that Okowa has given to Deltans since his assumption of office.

Okowa that we know is an arrogant person, he is treacherous, hot tempered, vindictive, pretentious and a bigot in the highest order. But we want to also thank God and commend all those who saw all this ahead of us in faraway 2014 and decided to dump the PDP and leave Okowa to continue his clannish tendencies that would finally exile him in 2019″.

Economy

NASD OTC Exchange Drops 0.44%

Published

5 minutes ago

28/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange dipped by 0.44 per cent on Tuesday, January 27, with the market capitalisation declining by N9.70 billion to N2.174 trillion from N2.184 trillion, and the NASD Unlisted Security Index (NSI) falling by 16.21 points to 3,634.73 points from 3,650.94 points.

The bourse was under pressure from two securities, which lost weight, overpowering the gains recorded by three securities.

Business Post reports that FrieslandCampina Wamco Nigeria Plc lost N5.70 to sell at N64.00 per share compared with Monday’s price of N69.70 per share and Central Securities Clearing System (CSCS) Plc dropped 17 Kobo to close at N40.50 per unit, in contrast to the preceding day’s N40.67 per unit.

On the flip side, Air Liquide Plc added N1.69 to settle at N18.63 per share versus the previous session’s N16.94 per share, UBN Property Plc appreciated by 20 Kobo to N2.20 per unit from N2.00 per unit, and Industrial and General Insurance (IGI) Plc gained 6 Kobo to trade at 69 Kobo per share versus 63 Kobo per share.

During the session, the volume of securities traded by investors fell further by 80.9 per cent to 1.3 million units from 6.8 million units, the value of securities went down by 57.3 per cent to N57.3 million from N156.7 million, and the total number of deals shrank by 13.6 per cent to 38 deals from 44 deals.

At the close of business, CSCS Plc was the most traded stock by value on a year-to-date basis with 14.4 million units traded for N586.1 million, the second spot was occupied by FrieslandCampina Wamco Nigeria Plc with 1.6 million units worth N107.9 million, and the third spot was taken by MRS Oil Plc with 297,101 units valued at N59.3 million.

CSCS Plc also ended as the most active stock by volume on a year-to-date basis with 14.4 million units valued at N586.1 million, followed by Geo-Fluids Plc with 1.6 million units worth N107.9 million, and Mass Telecom Innovation Plc with 6.4 million units sold for N2.6 million.

Economy

Naira Firms to N1,401/$1 at Official Market as Reforms Bear Fruits

Published

14 minutes ago

28/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The value of the Nigerian Naira appreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, January 27 by N17.73 or 1.25 per cent to close at N1,401.22/$1, in contrast to the previous day’s value of N1,418.95/$1.

Also, the domestic currency improved its value against the Euro by N10.09 in the same market window yesterday to trade at N1,672.22/€1 versus the previous session’s N1,682.31/€1, but declined against the Pound Sterling by N4.72 to trade at N1,925.84/£1 compared with Monday’s closing price of N1,921.12/£1.

At the GTBank FX desk, the Naira appreciated against the greenback during the session by N4 to close at N1,426/$1 compared with the previous day’s N1,430/$1 and at the parallel market, it remained unchanged at N1,480/$1.

The Naira continues to align with projections and reforms. Analysts largely expect the local currency to remain within a relatively stable range in the medium term. Many projections suggest the currency will trade between N1,400/$1 and N1,450/$1 this year, supported by improved FX liquidity and ongoing macroeconomic reforms.

Nigeria’s external reserves have continued on a steady upward trajectory, providing additional support for the domestic currency. According to figures published by the CBN on its website, external reserves rose to $46.03 billion as of January 26, 2026, reflecting sustained inflows and improved confidence in the FX market.

Ongoing reforms in the oil sector that have buoyed investments, rising foreign capital inflows, and stronger diaspora remittances are also combining to underpin exchange rate stability and sustain confidence in the FX market.

Meanwhile, the cryptocurrency market rose on Tuesday and the US Dollar remained under pressure ahead of a closely watched Federal Reserve decision on Wednesday.

The weaker Dollar has fueled strong rallies in gold and silver, but crypto has so far lagged that trade.

Ethereum (ETH) gained 2.5 per cent to trade at $3,000.05, Dogecoin (DOGE) increased by 2.4 per cent to $0.1249, Solana (SOL) expanded by 2.3 per cent to $126.84, Binance Coin (BNB) added 2.1 per cent to sell for $900.33, Cardano (ADA) jumped by 1.6 per cent to $0.3568, Ripple (XRP) appreciated by 0.9 per cent to $1.91, Bitcoin (BTC) soared by 0.9 per cent to $89,016.63, and Litecoin (LTC) grew by 0.6 per cent to $69.69, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.

Economy

Crude Oil Jumps 3% as US Winter Storm Affects Output

Published

25 minutes ago

28/01/2026

Adedapo Adesanya

By Adedapo Adesanya

Crude oil appreciated by 3 per cent on Tuesday as a winter storm in the United States affected crude production and drove US Gulf Coast crude exports to zero over the weekend.

During the session, Brent crude futures went up by $1.98 or 3.02 per cent to $67.57 a barrel and the US West Texas Intermediate (WTI) crude futures grew by $1.76 or 2.9 per cent to trade at $62.39 a barrel.

US oil producers lost up to 2 million barrels per day or roughly 15 per cent of national production over the weekend as a severe winter storm swept across the country, straining energy infrastructure and power grids.

The severe weather has boosted crude futures, with short-term risks rising on fears of supply disruptions.

According to Reuters, the Permian Basin experienced the largest share of that decline at around 1.5 million barrels per day. Production losses eased on Monday, with Permian shut-ins estimated at about 700,000 barrels per day and production set to be fully restored by January 30.

The exports of crude oil and liquefied natural gas from US Gulf Coast ports tumbled to zero on Sunday amid frigid weather. However, this has rebounded in the last days.

Also boosting prices, Kazakhstan’s biggest oilfield, Tengiz, is likely to restore less than half of its normal production by February 7 as it slowly recovers from a fire and power outage.

The slow pace of recovery of Tengiz’s production is keeping the oil market tighter while a weaker US Dollar also lended some support.

However, the CPC, which operates Kazakhstan’s main exporting pipeline, said it returned to full loading capacity at its terminal on the Russian Black Sea coast after maintenance was completed at one of its three mooring points.

On the geopolitical front, the US landed an aircraft carrier and supporting warships in the Middle East, adding to the slim chance of a military action against Iran.

President Donald Trump Trump had repeatedly threatened to intervene if Iran continued to kill protesters, but the countrywide demonstrations have since abated. The US president said he had been told that killings were subsiding and that he believes there is currently no plan for the executions of prisoners.

Meanwhile, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) is set to keep its pause on oil output increases for March at a meeting on February 1.