General
AfDB Okays $500m Loan to Nigeria for Economy, Energy Transition
By Adedapo Adesanya
The board of the African Development Bank Group (AfDB) has approved a $500 million loan to Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme.
According to the Abidjan-based lender, the policy-based operation is for fiscal years 2024 and 2025.
“The second phase of the programme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector, while supporting progressive reforms of fiscal policy to boost non-oil revenues and expand fiscal space. The new phase will consolidate and build on the achievements of the first phase,” said Mr Abdul Kamara, Director General of the lender’s arm in Nigeria.
The programme will place emphasis on three main areas. First, the programme will deepen fiscal policy reforms by strengthening public financial management systems and enhancing the transparency and efficiency of public spending; secondly, it will accelerate the reform of the power engineering sector to reduce energy poverty, expand access to energy, improve sector governance, and attract private investment.
The second phase of the scheme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector; and thirdly, it will support implementation of the energy transition plan through measures that promote climate change adaptation and mitigation, including the introduction of energy-efficiency standards for electrical appliances.
The Nationally Determined Contribution (NDC) will also be updated for the 2026–2030 period.
The direct beneficiaries are the Federal Ministry of Power, the Federal Ministry of Finance, the Federal Inland Revenue Service, the Office of the Auditor General, the Debt Management Office, the National Climate Change Council of Nigeria (NCCC), the Federal Ministry of the Environment, the Nigerian Electricity Regulatory Commission (NERC), and other bodies responsible for social and economic policies.
Benefits will also accrue to private businesses in the form of improved investment climate and opportunities in the energy sector at the level of individual states of the Federation, and from the creation of an environment more conducive to public-private partnerships.
AfDB has been instrumental in Nigeria, backing government development efforts over the years.
As of October 31 2025, the active portfolio of the African Development Bank Group in Nigeria comprised 52 projects with a total commitment of $5.1 billion.
General
Military Must Apologise for Disrupting Nigeria’s Democratic Path—Banwo
By Modupe Gbadeyanka
For disrupting Nigeria’s democratic path and weakening its institutions, the military must tender an apology to the nation, foremost public commentator, Mr Ope Banwo, has submitted.
The legal practitioner, who called for a national reckoning, insisted that an apology would acknowledge the harm caused by repeated military interventions and reaffirm the supremacy of the constitution.
Speaking on the recently commemorated Armed Forces Remembrance Day, Mr Banwo argued that decades of political intervention by the military disrupted the country’s democratic growth.
According to him, repeated military takeovers did not rescue the country from early post-independence challenges but instead deepened instability and entrenched authoritarian governance.
While acknowledging that Nigeria’s early civilian leaders contributed to political chaos through electoral malpractice and ethnic tensions, he maintained that military coups worsened the situation, noting that the first coup in 1966 triggered a cycle of interventions that culminated in civil war, institutional breakdown, and long-term political trauma.
He emphasised that successive military regimes promised to fight corruption, restore discipline, and sanitise governance, but failed to deliver lasting reforms.
“Rather than ending corruption, they professionalised it,” he posited, adding that military rule created a powerful elite class that continues to wield influence in politics and business long after the return to civilian rule.
Mr Banwo further argued that the military never fully relinquished power, but merely exchanged uniforms for civilian attire, leaving behind a culture where constitutional authority is often treated as optional, stressing that in democratic societies, the armed forces must remain subordinate to civilian leadership, warning against any renewed appetite for military intervention in governance.
“The military is not Nigeria’s emergency solution to political failure,” he disclosed, urging the armed forces to focus on their constitutional responsibility of securing the country amid rising insecurity.
General
Housing Deficit: FG to Prioritize Use of Local Materials
By Adedapo Adesanya
The federal government has said it would prioritize the use of local materials to drive its new reform agenda that will close the housing deficit in the country.
This was disclosed by the Minister of Housing and Urban Development, Mr Ahmed Musa Dangiwa, at the 14th National Council on Lands, Housing and Urban Development meeting on Monday in Ilorin, the Kwara State capital.
He said Nigeria’s housing deficit, estimated in tens of millions, remains one of the most pressing social and economic challenges, driven by rapid urbanisation, population growth and rising construction costs, noting that the new policy framework is expected to shape housing delivery, land administration and urban development planning across the federation in the coming years.
Speaking at the event, the Minister, represented by the Director of Planning, Research and Statistics of the ministry, Mr Mukhtar Ilyasu, said the government has placed effective land management at the centre of its housing delivery strategy, describing land administration as the foundation for expanding access to affordable housing nationwide.
According to him, urban renewal and regeneration have now been adopted as national policy tools for modernising Nigerian cities, addressing uncontrolled urban growth and responding to population pressure and climate challenges.
He said the government is also prioritising the large-scale adoption of locally sourced building materials and technologies as a cost reduction strategy aimed at making housing more affordable while strengthening domestic construction industries.
“Effective land management remains the foundation of housing delivery in Nigeria. Without fixing land administration, it will be difficult to close the country’s housing deficit.
“Urban renewal and regeneration have been adopted as national policy tools for rebuilding Nigerian cities, addressing uncontrolled urban growth and improving the quality of life of our citizens.
“The promotion of locally sourced building materials and technologies is now a policy priority to reduce construction costs, deepen local industry and improve housing affordability.”
“Federal and state governments are being aligned under a unified housing and urban development agenda to ensure coordinated implementation and results driven execution”, he said.
Mr Dangiwa added that public private partnerships will serve as the main engine for mass housing and urban infrastructure delivery across the federation.
The government, he noted, will provide policy support, land governance reforms and investment frameworks to attract private capital into the sector.
To support the new direction, he said the FG is strengthening national land governance frameworks to promote inclusive urban growth and remove long standing bottlenecks in land administration that have slowed housing development.
The minister said the new policy thrust further includes innovative housing finance and investment strategies designed to unlock long term funding for real estate development and bridge Nigeria’s widening housing gap.
He stressed that federal and state governments are being aligned under a unified housing and urban development agenda to ensure coordinated implementation and results driven execution.
General
DSS Arrests ex-AGF Malami After Release from Kuje Prison in EFCC Case
By Adedapo Adesanya
The Department of State Service (DSS) has arrested former Attorney-General of the Federation (AGF) and Minister of Justice, Mr Abubakar Malami, shortly after his release from Kuje prison in Abuja on Monday.
He was reportedly arrested to face a fresh probe over arms allegedly discovered in his house in Birnin-Kebbi, the Kebbi State capital, last December.
Recall that two weeks ago, Justice Emeka Nwite of the Federal High Court in Abuja granted the former AGF and two others bail in the sum of N500 million.
The Economic and Financial Crimes Commission (EFCC) had filed a 16-count alleged money laundering charge against Mr Malami, his son, Abdulaziz Malami, and his wife, Mrs Asabe Bashir.
The DSS operatives reportedly arrested him as he was exiting the Kuje Correctional Centre in Abuja, where he had been held since December 30, 2025, over the pending N8.7 billion money laundering charges filed by the anti-graft agency.
Monday’s arrest followed weeks of reports of surveillance by the secret police in front of the prison facility since the time Mr Malami, his wife and son were remanded there over the money laundering charges.
As per reports, Mr Malami had gathered that he would be picked up upon regaining his temporary freedom decided to wait. However, after his eventual emergence, the DSS operatives took the ex-AGF into detention again.
In a press statement by Mr Malami’s aide, Mr Mohammed Doka, shared on the former AGF’s Facebook page on January 7, the planned arrest of the legal practitioner was confirmed.
The post, the latest on the Facebook page as of Tuesday morning, said the former minister’s camp had been “reliably informed of plans by government security agencies to rearrest him immediately upon his release, despite being granted bail by a court of competent jurisdiction.”
“This development is deeply troubling and raises grave concerns about due process, the rule of law, and personal safety,” the statement added, describing the allegations informing the planned arrest as “trumped-up charges”.
Mr Malami’s arrest on Monday began the third phase of his ongoing detention by various agencies since December 8, 2025.
The EFCC detained him from 8 December 2025 to 30 December 2025, when the Federal High Court in Abuja where he and his family members face money laundering charges transferred him to the Correctional Centre in Kuje, Abuja, following his arraignment.
The trial court granted him bail on 7 January but only for him to be rearrested by the SSS upon his release after meeting the bail conditions on Monday.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn











