Economy
Senator Attai Aidoko Sir, Legal Quests or Legislation?
By John Paul
Recently, I embarked on a journey to Ugbamaka lgah, the ancestral home of senator Attai Aidoko representing Kogi East in the senate. Whirling the community without a glance on potential pay-off for producing a Senator of the federal republic, I resorted for interrogation and a retired police officer has this to say: “This is not river, but a stream.
The only stream sustaining our community and the neighborhood and it’s about four Kilometers away. Aidoko is far from our challenges because he only comes here in the night and disappear before dawn since he became a Senator. As you can see, we have no portable water, no electricity and other basic infrastructures.”
While the interrogation was still on, something struck my mind with the absence of morality in our leaders and I asked myself, why do people find pleasure in deceiving others? The senior citizen suddenly tapped and asked that I come with him. Lo and behold! I was taken to a large warehouse stocked with tricycles purportedly meant to electioneer Aidoko’s re-election bid in 2019.
Flash, Senator Attai Aidoko told us few months ago that he would not contest in 2019 as he will return to his farm in order to cater for his family but all doubt was cleared with events turning out from his camp within the last few days.
Sometimes I wonder if some of our leaders are sets of aggrieved people on vengeance. They are friendly while election is around the corner and once they are voted into power, they turned their back on the electorates.
I stumbled upon a media branded achievement of the Senator from inception to date and I scoffed knowing it’s fallacious and politically intrigued. Though it’s the usual shenanigans with Nigeria politicians especially when election approaches, but I don’t think it’s necessary to spend constituency allocation on tactics that is obviously irrelevant to the political curriculum of Senator Aidoko. Why? Because unlike his contemporaries, Aidoko only sleeps and merry with his concubines while the court delivers his mandate in his choice location.
What a digression of our democracy.
Come to think of it, why would Aidoko include electrification of Ikeje Igah to Ugbamaka in the projects he initiated when Ikeje has been electrified a year before he found his way to the corridors of power? As a matter of fact, Ikeje Igah’s electrification projects was initiated by the famous philanthropist Suleiman Babanawa in 2002.
Moreover, as a center to Okpo, Ogugu, Ugbamaka and Branch Obu, Ikeje town is located along Kogi – Benue – Enugu highways and it’s said to have been blessed with some basic infrastructures like schools, health care facilities and pipe borne water before our democratic rebirth.
Developing an already developed community in the face of others is abysmal. If Aidoko was in for the business he flaunts, it would have made more sense if suburbs like Igah gate, Igah Ocheba, Igah chechere, which lack virtually all the basic amenities, especially portable water, was considered.
Having watched helplessly while Kogi east legislative strides devalorize daily amidst national core issues, I put a call to some ‘behavioural scientists’ to find out what differentiates ‘psychological dispensation’ from action but they are yet to get back to me. Vision, they say, determines mission and mission determines action. The hypocrisy in the entire narrative of our legislative struggles is not far fetched; the man at the helm of affairs is formerly known for his indispensable slogan “Development of Igalaland is my priority”.
More delusive, Aidoko is also a major stakeholder in the so called ‘project save Kogi’. So, one may be tempted to ask, what has suddenly befallen this noble personality? Has power actually corrupted him or the so-called slogan was just a headway to political limelight?
The time is appropriate to pose this sacred question (Legal quests or Legislation?) before distinguished Senator Aidoko as further delay may write off Kogi east from Nigeria’s Geo-political zones. Judiciary they say is the last hope of a common man but for Aidoko, it’s an avenue to quiz justice against the people.
In 2015, Kogi East Senatorial mandate was grasped via election petition tribunal as Abdulrahman Abubakar of the ruling All Progressives Congress won the senatorial poll. Lending credence, he was given the certificate of return as member of the Nigeria Senate on the 3th of April 2015 and took oath of office in June 2015 conforming with electoral acts.
Six months later, Aidoko swirled into the Senate with a verdict from the state electoral petition tribunal siting in Lokoja asking Senator Abdulrahman Abubakar (APC) who polled 98,915 votes to relinquish for him as the flag bearer of the opposition party with 88, 994 votes. Efforts to appeal the injustice perpetrated against Abdulrahman was an exercise in futility as Aidoko, though has Alfa to contend with, bought his way in the entire process.
The legal battles between Aidoko and Alfa however came on the heel of nonconformity with party rules on individual mandate. While Alfa was anointed by his party with his mandate, Aidoko leveraged on his allotted court mandate.
To show that Alfa was also endorsed by the gods (ojo-ane), not only did he win the scheduled re-run, the pre-election suit had had Aidoko declared unqualified for the second time. But coercively, Aidoko flouted court judgement to remain in the senate regardless of whose ox is gored and the recent appeal he filed at the supreme court is just a guy-man making the street attractive for the next ten months when his tenure shall elapse.
Apparently, Aidoko has never been mandated by his constituency in the senatorial journey so far going by the above facts. He has never won election but rely on paid court orders to overthrow those who toiled every nooks and crannies of the constituency to woo voters.
It was reported online that Aidoko bribed four judges of the supreme Court with a whooping some of N100,000,000 each in order to halt it’s judgement on the pre- election suit by Isaac Alfa sometimes last year.
Space constraints may deter my urge to X-ray the saga between Air Marshall Isaac Alfa and distinguished senator Aidoko Ali Usman but one disgusting fact posterity may not allow if ignored is the fact that Alfa ambitiously gambled with Edward Onoja and cohorts in order to secure justice. But if I must balance the equation, Alfa’s last-minute move is just a tradition everyone must adopt especially if the business of politics must thrive. His concordat with Edward Onoja which hierarchically introduced the influence of the state governor, Minister of Justice and finally the presiding judge was a perfect political permutation. At least the mission was accomplished even though the future is uncertain.
Our democracy has been muddled. The business of legislation is now clustered in one-man’s show which neither regard the rule of law nor enforce common will. The judiciary has been cloned into private entity with the outputs favoring an individual.
Those accusing me of raising dust among our party men can now understand that Aidoko has no place in the heart of any party man or the PDP itself going by the odious selfishness and permutations that had reduced Kogi eastern legislation to a shit hole. How can Aidoko sit and watch while Dino Melaye and his counterpart from the central strive for Ajaokuta steel? How can we watch while our Constituency allowances is been diverted and use for legal cases? How can we fold our hands while myopically inclined, self-serving and self-aggrandizement hold sway to the detriment of common will and aspirations?
To prevent further rots, Aidoko and his handlers must be called to order, at least to explain their preferences between the hovering legal quests and legislative business. So that if the need be, we must shop for possible replacement. A black goat they say is better captured in the day time. (PROPHETIC declaration)
God Bless Kogi East.
John Paul, writes from Lokoja, Kogi State. He can be reached on 07064258752
Editor’s Note
The views and opinions expressed in this article are purely of the writer and do not necessarily reflect the position of Business Post Nigeria on the subject matter.
Economy
Nigerian Stocks Suffer First Loss in 23 Trading Sessions, Down 0.43%
By Dipo Olowookere
The upward trajectory seen at the Nigerian Exchange (NGX) Limited in the past sessions was halted on Thursday as a result of profit-taking in Aradel Holdings, MTN Nigeria, GTCO, and others.
Nigerian stocks were down by 0.43 per cent because of the selling pressure. It was the first loss in 2026 and also the first in 23 trading session. The last time Customs Street ended in red was December 10, 2025.
The decision of investors to trim their exposure to equities contracted the All-Share Index (ASI) by 714.66 points during the session to 166,057.29 points from 166,771.95 points and brought down the market capitalisation by N458 billion to N106.323 trillion from N106.781 trillion.
A look at the sectorial performance indicated that the energy, commodity, and insurance indices were down by 2.21 per cent, 1.14 per cent, and 0.24 per cent, respectively, while the banking, consumer goods, and industrial goods sectors were up by 0.78 per cent, 0.33 per cent, and 0.01 per cent apiece.
Yesterday, investor sentiment was weak after the bourse ended with 26 price gainers and 41 price losers, showing a negative market breadth index.
McNichols declined by 9.99 per cent to trade at N6.58, Caverton crashed by 9.47 per cent to N7.65, Ikeja Hotel collapsed by 9.43 per cent to N35.05, FTN Cocoa dropped 9.38 per cent to sell for N7.05, and Neimeth went down by 8.91 per cent to N9.20.
On the flip side, Nestle Nigeria gained 10.00 per cent to quote at N2,153.80, NCR Nigeria appreciated by 9.97 per cent to N116.90, Jaiz Bank improved by 9.92 per cent to N8.20, Morison Industries rose by 9.90 per cent to N5.66, and Mecure Industries grew by 9.84 per cent to N97.70.
During the session, market participants traded 1.0 billion stocks worth N31.6 billion in 51,227 deals compared with the 761.9 million stocks valued at N29.9 billion transacted in 55,751 deals at midweek, representing a drop in the number of deals by 8.12 per cent, and a surge in the trading volume and value by 31.25 per cent, and 5.69 per cent, respectively.
Sovereign Trust Insurance returned on top of the activity chart with 245.2 million units sold for N798.5 million, Access Holdings traded 78.4 million units worth N1.8 billion, Zenith Bank transacted 72.4 million units for N5.0 billion, Jaiz Bank exchanged 53.7 million units valued at N433.9 million, and Lasaco Assurance traded 53.4 million units worth N135.1 million.
Economy
Crude Oil Plunges 4% as Trump Calms Iran Attack Concerns
By Adedapo Adesanya
Crude oil was down by around 4 per cent on Thursday after the United States President, Mr Donald Trump, said the crackdown on protesters in Iran was easing, calming concerns over potential military action against the Middle-East country and oil supply disruptions.
Brent crude futures depreciated by $2.76 or 4.15 per cent to $63.76 a barrel and the US West Texas Intermediate (WTI) crude futures fell by $2.83 or 4.56 per cent, to $59.19 a barrel.
President Trump said he had been told that killings during Iran’s crackdown on protests were easing and he believed there was no current plan for large-scale executions, though he warned that the US was still weighing military action against the oil producer, which is a member of the Organisation of the Petroleum Countries (OPEC).
Thousands of people are reported to have been killed in the weeks-long protests, and the American president has vowed to support demonstrators, saying help was “on its way.”
Iran has threatened the US with reprisals were it to be attacked, alongside conciliatory signals, including the suspension of a protester’s execution.
The New York Times reported that many of the US Gulf allies, including several of Iran’s own rivals, have also pushed against a US military intervention, warning that the ripple effects would undermine regional security and damage their reputations as havens for foreign capital.
Regardless, the US withdrew some personnel from military bases in the Middle East, after a senior Iranian official said Iran had told neighbours it would hit American bases if America strikes.
Venezuela has begun reversing oil production cuts made under a US embargo, with crude exports also resuming. The OPEC member’s oil exports fell close to zero in the weeks after the US imposed a blockade on oil shipments in December, with only Chevron exporting crude from its joint ventures with PDVSA under US license.
The embargo left millions of barrels stuck in onshore tanks and vessels. As storage filled, PDVSA was forced to shut wells and order oil production cuts at joint ventures in the country.
With this development, the Venezuelan state oil company is now instructing the joint ventures to resume output from well clusters that were shut.
On the demand side, OPEC said on Wednesday that 2027 oil demand was likely to rise at a similar pace to this year and published data indicating a near balance between supply and demand in 2026, contrasting with other forecasts of a glut.
Economy
Nigeria’s Crude Oil Production Drops Slightly to 1.422mb/d in December 2025
By Adedapo Adesanya
Nigeria’s crude oil production slipped slightly to 1.422 million barrels per day in December 2025 from 1.436 million barrels per day in November, according to data from the Organisation of Petroleum Exporting Countries (OPEC).
OPEC in its Monthly Oil Market Report (MOMR), quoting primary sources, noted that the oil output was below the 1.5 million barrels per day quota for the nation.
The OPEC data indicate that Nigeria last met its production quota in July 2025, with output remaining below target from August through December.
Quarterly figures reveal a consistent decline across 2025; Q1: 1.468 million barrels per day, Q2: 1.481 million barrels per day, Q3: 1.444 million barrels per day, and 1.42 million barrels per day in Q4.
However, the cartel acknowledged that despite the gradual decrease in oil production, Nigeria’s non-oil sector grew in the second half of last year.
The organisation noted that “Nigeria’s economy showed resilience in 2H25, posting sound growth despite global challenges, as strength in the non-oil economy partly offset slower growth in the oil sector.”
According to the report, cooling inflation, a stronger Naira, lower refined fuel imports, and stronger remittance inflows are improving domestic and external conditions.
“A stronger naira, easing food prices due to the harvest, and a cooling in core inflation also point to gradually fading underlying pressures”, the report noted.
It forecast inflation to decelerate further on the back of past monetary tightening, currency strength, and seasonal harvest effects, though it noted that monetary policy remains restrictive.
“Seasonally adjusted real GDP growth at market prices moderated to stand at 3.9%, y-o-y, in 3Q25, down from 4.2% in 2Q25. Nonetheless, this is still a healthy and robust growth level, supported by strengthening non-oil activity, with growth in that segment rising by 0.3 percentage points to 3.9%, y-o-y. Inflation continued to decelerate in November, with headline CPI falling for an eighth straight month to 14.5%, y-o-y, following 16.1%, y-o-y, in October”.
OPEC, however, stated that while preserving recent disinflation gains is important, the persistently high policy rate – implying real interest rates of around 12% – risks weighing on aggregate demand in the near term.
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