General
Buhari Congratulates Tinubu, Warns Against Protests
By Adedapo Adesanya
President Muhammadu Buhari has congratulated Nigeria’s newly elected president, Mr Bola Ahmed Tinubu, with a promise to work with him in a smooth transition ahead of his May 29 swearing-in while warning the opposition parties to seek redress in court and not on the streets.
In a statement on Wednesday, the incumbent president said his would-be successor is “the best person for the job,” declaring that “I shall now work with him and his team to ensure an orderly handover of power.”
Earlier this morning, the Independent National Electoral Commission (INEC) announced that Mr Tinubu won the elections held on Saturday, February 25, with about 35 per cent of the total votes cast.
He emerged after gathering 8,794,726 votes, beating former ally and serial contestant, Mr Atiku Abubakar, of the People’s Democratic Party (PDP), who polled a total of 6,984,520 votes, while Mr Peter Obi of the Labour Party (LP), who created a third force opposition, garnered 6,101,533 votes as Mr Rabiu Kwankwaso of the New Nigeria Peoples Party (NNPP) came fourth with 1,496,687 votes.
Speaking on the election, Mr Buhari said the exercise, which continues his party’s stay in power, saw a lot of drastic changes, which signified that changes were spreading across the country’s political landscape.
“The election was Africa’s largest democratic exercise. In a region that has undergone backsliding and military coups in recent years, this election demonstrates democracy’s continued relevance and capability to deliver for the people it serves.
“Within Nigeria, the results reveal democracy’s ripening in our country. Never has the electoral map shifted so drastically in one cycle.
“In the presidential elections, states in all regions across Nigeria changed colour. Some of you may have noticed my home state among them. The winning candidate did not carry his own home State either. That happens during a competitive election.
“Votes and those that cast them cannot be taken for granted. Each must be earned. Competition is good for our democracy. There is no doubt the people’s decision has been rendered in the results we look at today,” the President stated.
He, however, acknowledged the faults in the process but said these challenges were not enough basis for judging the outcome of the election.
In his words, “That is not to say the exercise was without fault. For instance, there were technical problems with the electronic transmission of the results. Of course, there will be areas that need work to bring further transparency and credibility to the voting procedure.
“However, none of the issues registered represent a challenge to the freeness and fairness of the elections.”
He also warned the opposition to ensure that they seek redress through the courts and eschew the use of protests to contest the results, which he said might be done for selfish reasons.
“I know some politicians and candidates may not agree with this view. That, too, is fine. If any candidate believes they can prove the fraud they claim is committed against them, then bring forward the evidence.
“If they cannot, then we must conclude that the election was indeed the people’s will – no matter how hard that may be for the losers to accept. If they feel the need to challenge, please take it to the courts, not to the streets.
“To take to the streets means they are not doing it in the interest of the people, but rather to inflame, to put people in harm’s way and all for personal, selfish gains.”
“After a degree of polarization that necessarily accompanies any election, it is now time to come together and act responsibly. I call on all candidates to remember the peace pledge they signed just days before the election.
“Do not undermine the credibility of INEC. Let us now move forward as one. The people have spoken,” he added.
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has announced plans to commence the disbursement of the $700 million Cabotage Vessel Financing Fund (CVFF) within the next four months.
Last week, the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, instructed the maritime regulator to initiate the long-awaited disbursement process for the fund.
This directive marked a significant shift from over two decades of administrative stagnation and ushers in a new era of strategic repositioning of Nigeria’s indigenous shipping.
Speaking on Wednesday, NIMASA’s Director General, Mr Dayo Mobereola, providing a timeline for the disbursement said this will happen within the next four months, which by calculation, is August 2025.
He made the announcement during an oversight visit by the House of Representatives Committee on Maritime Safety, Education, and Administration in Abuja, according to the News Agency of Nigeria (NAN).
“We are acting in accordance with the directive of the Minister to ensure indigenous shipowners finally have access to this critical funding. The guidelines have been streamlined based on the Minister’s approval, so beneficiaries can access the funds within three to four months,” he said.
“To effectively manage the $700 million intervention fund, the number of Primary Lending Institutions (PLIs) has been expanded from five to twelve.”
The CVFF, established under the Coastal and Inland Shipping (Cabotage) Act of 2003, was designed to empower Nigerian shipping companies through access to structured financing for vessel acquisition. However, successive administrations failed to operationalize the fund—until now.
According to Minister Oyetola, the disbursement of the CVFF will represent not just the release of funds, but a profound commitment to empowering Nigerian maritime operators, bolstering national competitiveness, and fostering sustainable economic development.
“This is not just about disbursing funds. It’s about rewriting a chapter in our maritime history. For over 20 years, the CVFF remained a dormant promise. Today, we are bringing it to life—deliberately, transparently, and strategically,” he stated.
NIMASA, in alignment with the Minister’s directive, has already issued a Marine Notice inviting eligible Nigerian shipping companies to apply.
Qualified applicants can access up to $25 million each at competitive interest rates to acquire vessels that meet international safety and performance standards.
The fund will be administered in partnership with carefully selected and approved Primary Lending Institutions (PLIs), ensuring professional and efficient disbursement.
By Adedapo Adesanya
The Ogun State Government, through its Environmental Protection Agency (OGEPA,) has sealed four industries for environmental infractions.
According to a statement by the spokesman of the agency, Mr Luke Adebesin, the affected organisations are Fortune Height Farms Limited and Sanda Wood Industry Limited, both in Odogbolu Local Government, Shengceramic Material Limited in Ogere axis of the Lagos-Ibadan Expressway and Nehemiah Grace Developer Limited at Ijako in Ado-Odo, Ota Local Government.
The Special Adviser to the Governor on OGEPA, Mr Farouk Akintunde, reiterated that all companies must comply with operating and environmental standards laid by the state.
The agency alleged that Fortune Height Farms Limited, which is into production of eggs and catfish, was sealed after a petition was received from its host community for discharging untreated influence into the environment.
Sanda Wood Industry Limited was sealed for allegedly denying government officials access into its facility while engaging in open burning, while Nehemiah Grace Developer Limited was sealed for encroaching on the waterways and constructing drainage without the state government permit.
“Ogun State government will not fold its hand and allow these industries to violate our Environmental laws,” the agency said, adding that it will continue to ensure that the South Western state is safe and secure.
By Adedapo Adesanya
The National Pension Commission (PenCom) has announced the recovery of N1.58 billion from defaulting employers through enhanced enforcement efforts as total pension assets under management (AuM) surpassed N23 trillion as of February.
The Director General of PenCom, Ms Omolola Oloworaran, made this disclosure on Wednesday in Kano during the First Run 2025 Consultative Forum for States and the Federal Capital Territory (FCT) that state remittances had also improved, reflecting a greater adoption of the Contributory Pension Scheme (CPS).
Ms Oloworaran noted that in spite of these advancements, challenges remain, as only 25 states and the Federal Capital Territory (FCT) had enacted laws to implement the CPS.
“Six states operate hybrid schemes, while another six have bills at advanced legislative stages.
“Notable progress has been made in Katsina, Yobe, Bauchi, and Abia states. However, full implementation of the CPS is currently limited to eight states,” she explained.
To address this gap, PenCom has introduced a flexible adoption model, allowing states to begin implementation with new employees or those with fewer than 10 years of service.
The director general further stated that the commission was providing technical support to assist states in planning for legacy liabilities and transitioning their entire workforce in a financially sustainable manner.
She reaffirmed the commission’s commitment to achieving full onboarding of all states and the FCT into the CPS.
“With sustained dialogue, technical collaboration, and strong political will, we are confident of reaching this goal,” she said.
Ms Oloworaran described the ongoing forum as more than just a routine meeting, calling it “a call to collective action.”
She urged participants to seize this opportunity to co-create solutions, share innovations, and renew their commitment to a secure, unified, and inclusive pension system.
On his part, the Head of Service (HOS) of Kano, Mr Abdullahi Musa, reaffirmed the state government’s commitment to pension reforms.
He commended PenCom for its leadership in promoting best practices and described the forum as a “vital platform for dialogue, peer learning, and policy refinement.”
Mr Musa said that Kano State had made significant progress in restructuring its pension system, notably through the adoption of a hybrid model that combined elements of the defined benefits and the CPS.
He revealed that the state government, under the leadership of Gov. Abba Kabir, had taken bold steps to settle pension backlogs and improve the management of retirement benefits, adding that the state government had paid N16 billion in outstanding entitlements, which represented about 40 per cent of the liabilities inherited from previous administrations.
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