General
Housing Deficit: SEC Vows to Support Estate Surveyors, Valuers
By Dipo Olowookere
Key stakeholders in the built industry have been assured of strong backing by the Securities and Exchange Commission (SEC) so as to reduce the housing deficit in Nigeria.
The agency, through its director-general, Mr Lamido Yuguda, stated that it looks forward to having the players explore the capital market to tackle the issues.
Mr Yuguda, while speaking at a meeting with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Abuja on Wednesday, stated that, “There is a renewed focus on Real Estate Investment Trust (REIT) now, we are getting to see how the sector contributes more to our GDP by facilitating the trading of assets in the real estate sector. I think there is a huge room for collaboration, you have a very big role in the real estate sector.”
“Nigeria’s population is growing fast and we need everyone in Nigeria to have a roof over their heads. We do not want people to end their careers living in rented accommodation, people need to own their own houses because there is a lot of security and social value in owning your own house.
“You are very important as you operate in an area that is very important to our economy. You have a crucial role to play in the capital market especially as we focus on the Real Estate Investment Trust sector. You also have a huge role to play in the larger housing sector as at the moment we have not been able to harness the full potentials in that sector,” he added.
Also speaking, President and Chairman of Council NIESV, Mr Emmanuel Wike, commended the management of SEC on the huge contribution the capital market is making to the economic development of the country and solicited for the strengthening of collaboration between the agency and his institution.
Earlier, the Chairman of the Association of Capital Market Valuers, Mr Chudi Ubosi, stated that determining the values of assets of organizations in the capital market is the bedrock for decisions and a helpful tool in a range of work situations.
Mr Ubosi said that valuation is useful in mergers, acquisitions and divestment because it helps to price an organization and to estimate and value synergies as well as assess potentials of different strategic options among others.
“Another useful bye product of conducting asset valuation prior to listing and during the currency of listing is to check asset stripping which we have seen recently in organizations and companies.
“The resulting documents from valuation will certainly make this impossible as it will make management accountable.
“Valuation will also comment on sub-optimal use of asset which can lead to undervaluation. Using mainly market approach as rearrangement of asset use can bring out hidden values in the company under question.
“When businesses want to raise money, when they need to determine how much should be raised as well as when they approach the negotiating table, valuations are needed in all instances,” he said.
Mr Ubosi stated that when there are valuations that have integrity, it will boost investors’ confidence in the market as investors can ascertain that what is being valued is actual and nothing is hidden.
He stated that the role of Capital Market Valuers in determining the value of the assets of these companies will ensure transparency, accountability and continued enhancement of investor confidence in the market.
“As SEC recognizes us with the insistence that all capital market valuations be undertaken by our members, you will rest assured that anytime an operator wants to capitalize or re-capitalize their assets, the valuation reports done by our members will help engender confidence in the process,” he added.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
-
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
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 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












