Nelson Ugwuagbo

The Nigeria Sovereign Investment Authority (NSIA) has reported an operating profit of N1.86 trillion for the 2024 financial year, representing a 59 percent increase from the N1.17 trillion recorded in 2023.

In a statement on Tuesday, Joyce Onyegbula, NSIA’s head of corporate communications, attributed the performance to the resilience of the authority’s investment strategy, strong earnings, a diversified revenue base, and robust risk management despite global economic challenges.

“NSIA has remained profitable for 12 consecutive years, resulting in cumulative retained earnings of N3.74 trillion at the end of 2024,” Onyegbula said.

She noted that total operating profits, excluding earnings from associates and joint ventures, rose from N1.17 trillion in 2023 to N1.86 trillion in 2024. The increase was driven by the strong performance of NSIA’s diversified investment portfolio, infrastructure assets, and gains from foreign exchange movements and derivative valuations.

According to Onyegbula, total comprehensive income—including profits from associates and joint ventures—stood at N1.89 trillion in 2024, reflecting a 59 percent increase from N1.18 trillion in the previous year.

Core total comprehensive income, excluding foreign exchange and derivative valuation gains, surged by 148 percent to N407.9 billion in 2024, up from N164.7 billion in 2023. The rise was supported by robust returns on financial assets measured at fair value, including collateralized securities, private equity, hedge funds, and exchange-traded funds.

NSIA further reported that net assets nearly doubled, increasing by 96 percent to N4.35 trillion as of December 2024, compared to N2.22 trillion in December 2023.

Commenting on the results, NSIA Chief Executive Officer Aminu Umar-Sadiq described the financial performance as “outstanding,” emphasizing the strength of the authority’s strategic vision, disciplined execution, and commitment to sustainable socio-economic growth.

“By leveraging innovation, strategic partnerships, and sound risk management, we have not only delivered strong returns but also created value for our stakeholders,” Umar-Sadiq said.

The people of Orumba North Local Government Area, Anambra State, have urged the Federal Government to confer a national honour on the late Prof. Humphrey Nwosu, former Chairman of the National Electoral Commission (NEC), in recognition of his contributions to Nigeria’s democracy.

The call was made by the council’s Chairman, retired Capt. Casmier Nwafor, during a commendation service organized in honour of the late electoral reformer. Nwafor emphasized that without such recognition, the significance of June 12, 1993, would hold little meaning for the people of Orumba North.

The council insisted that immortalizing Prof. Nwosu is essential and urged the Federal Government to act without delay. They specifically appealed to President Bola Ahmed Tinubu and the National Assembly to take concrete steps to ensure his name is permanently inscribed in Nigeria’s democratic history.

As part of local efforts to honour him, the Orumba North Local Government unveiled a portrait of Prof. Nwosu at its secretariat and announced that the building would be renamed the “Prof. Sir Humphrey Nwosu Building.”

The council further urged the National Assembly to recognize Prof. Nwosu’s contributions, noting that ongoing debates over his immortalization have caused emotional distress among Nigerians who cherish the June 12 election. They called on lawmakers to reconsider their stance and bestow upon him the honour he rightfully deserves as Nigeria’s “Hero of Democracy.”

Prof. Nwosu was widely acknowledged for introducing the Option A4 voting system, which enhanced transparency and credibility in Nigeria’s electoral process.

The council also commended Anambra State Governor Chukwuma Soludo for supporting efforts to give Prof. Nwosu a befitting burial, stressing that a national honour would be a fitting tribute to his legacy.

Prof. Nwosu, who oversaw the historic June 12, 1993, presidential election, was laid to rest last Friday. The burial was attended by notable dignitaries, including Governor Soludo and Mr. Peter Obi, the Labour Party’s presidential candidate in the last general election.

The Kogi State Government has imposed a ban on rallies and the use of security convoys in response to recent killings and crises in parts of the state.

The decision was announced on Monday in a statement signed by the Commissioner for Information and Communication, Kingsley Fanwo, following a meeting between the state government, traditional rulers, and security agencies.

Fanwo stated that the government had reviewed the security situation and implemented the measures to prevent a breakdown of law and order.

“The Kogi State Government remains unwavering in its commitment to protecting lives and property and ensuring peace and security. In light of credible intelligence reports, the government has deemed it necessary to take proactive measures to prevent any form of security breach that could destabilize the state,” the statement read.

While the state witnessed a peaceful Sallah celebration, Fanwo noted that security threats in certain areas had led to violence. In Kasemiya, Katubo, and Umozu Ette, all in Kogi Local Government Area, clashes over fishing activities resulted in the loss of two lives. Consequently, the government has suspended all fishing activities in the area until peace is fully restored, with security operatives deployed to enforce the directive.

In Ankpa Local Government Area, a communal clash between Ika-Odele and Ika-Ochala in Enjema District is reportedly threatening stability in Kogi East. The state government has dispatched security forces to contain the situation and prevent further loss of lives and property. Peace talks between the two communities, facilitated by the government, are ongoing.

Additionally, intelligence reports indicate that certain groups in Kogi Central are planning violent rallies under the guise of political and religious agitations. Fanwo warned that such gatherings could lead to destruction and unrest.

“In view of these security concerns, the Kogi State Government has placed a total ban on all forms of rallies or public gatherings that could disrupt public peace. This decision follows intelligence reports suggesting that certain individuals intend to infiltrate the state using fake security personnel to foment trouble,” the statement added.

While acknowledging the constitutional right to peaceful assembly, the government emphasized that security considerations must take precedence. Consequently, no individual, group, or organization will be permitted to hold rallies in the state until further notice.

To strengthen security, Governor Ahmed Usman Ododo met with the Kogi State Traditional Council, led by the Attah of Igala, Matthew Opaluwa Alaji, to discuss measures for ensuring stability. The traditional rulers commended the government’s proactive steps in safeguarding lives and property.

Furthermore, the government has mandated that any individual or group entering the state with a security convoy must obtain prior clearance from the relevant state security commands.

“The state has received intelligence indicating attempts by some individuals to enter Kogi under the pretense of being security personnel, with intentions of causing unrest. This directive aims to prevent unauthorized movement of armed individuals and ensure that only duly accredited security agents operate within the state,” the statement concluded.

The Conference of Speakers of State Legislatures of Nigeria (CSSLN) has condemned the lynching of 16 northern travelers in Uromi, Edo State, describing the incident as barbaric and horrific.

In a statement issued on Monday and signed by CSSLN Chairman and Speaker of the Oyo State House of Assembly, Adebo Ogundoyin, the speakers decried the mob violence as a gross violation of human rights and a threat to peace and security.

“The CSSLN strongly condemns the horrific lynching of 16 northern travelers who were on transit and accused of possessing dane guns (local firearms),” Ogundoyin stated.

“These individuals were tragically killed by a mob in Uromi, Edo State, on Friday, March 28, 2025. The actions of the so-called vigilante group members responsible are barbaric and unjustifiable.”

The speakers stressed that such extrajudicial killings undermine the rule of law and erode societal values.

While commending the Edo State government and security agencies for their swift response, they urged authorities to intensify efforts to ensure that those responsible are identified, arrested, and prosecuted.

The CSSLN also called for stricter oversight of community policing structures established by state governments to prevent abuses.

“It is essential to ensure that these local security operatives function with professionalism, respect for human rights, and adherence to the rule of law. Effective oversight will safeguard the integrity of these initiatives and prevent them from becoming instruments of injustice,” the statement read.

The speakers extended their condolences to the families of the victims, expressing solidarity in their time of grief.

Heavy Gunshot ongoing at Banex Plaza as members of the Islamic Movement of Nigeria, also know as Shitties clashed with officers of the Nigerian armed forces.

Members of the public are advised to move safely within Abuja.

Former Vice President Atiku Abubakar has dismissed allegations linking him to purported financial transactions involving Lagos State funds, describing the claims as a politically motivated smear campaign.

In a statement issued on Thursday by his Media Adviser, Paul Ibe, the Atiku Media Office refuted reports suggesting that Lagos State Governor, Babajide Sanwo-Olu, provided financial support to Atiku during the 2023 presidential election.

The statement, titled “Halt This Tinubu’s Voyage of Misadventure and Campaign of Calumny against Atiku Abubakar,” described the allegations as “blatant lies” and “contrived political propaganda” aimed at tarnishing Atiku’s image.

“The Waziri of Adamawa does not know Governor Sanwo-Olu and has never met him before. The idea that Atiku, who has no connection with Sanwo-Olu, would be involved in a financial transaction with him during the 2023 election is baseless and illogical,” the statement read.

Atiku’s media team alleged that the reports were part of a broader political plot to undermine both Governor Sanwo-Olu and opposition figures, including Atiku.

The statement also challenged the Economic and Financial Crimes Commission (EFCC) to make public its findings on the claims, stressing that the matter was being used as a political tool.

Atiku’s camp further urged President Bola Tinubu’s associates to halt what it described as a smear campaign, stating that such tactics would not deter the opposition from pursuing its political objectives.

Ahead of his 73rd birthday on Saturday, President Bola Ahmed Tinubu, GCFR, will join fellow Muslims at the National Mosque in Abuja on Friday for a special prayer session for the nation.

He will also use this occasion to thank God for preserving and supporting him in the onerous task of piloting the nation’s affairs. President Tinubu’s birthday coincides with the holy month of Ramadan and comes two months before his administration’s second anniversary.

On this significant day, the President will dedicate himself to spiritual reflection and supplication for Nigeria’s continued peace, progress, and prosperity. Choosing a prayer session reflects President Tinubu’s dedication to Nigeria’s spiritual and moral well-being and his commitment to seeking divine guidance, insight, and strength in leadership. He believes collective prayer is a powerful tool for guiding the nation towards progress and harmony.

President Tinubu invites the public to join the prayer session in spirit by offering prayers at their places of worship or wherever they may be, reinforcing a nationwide commitment to unity and shared destiny. He expresses profound gratitude to Nigerians for their unwavering support and goodwill as his administration works tirelessly to advance economic reforms, strengthen national security, and expand opportunities for all citizens.

He states: “I am deeply thankful to Allah for the gift of life and the privilege to serve this great nation. As I mark another birthday and look forward to our second anniversary, my heart is filled with Renewed Hope for Nigeria. I urge all citizens to pray for divine guidance, unity, and healing for our land. Together, we shall overcome challenges and build a nation where every citizen thrives.”

The President reaffirms his commitment to consolidating democratic gains, fostering economic recovery, and promoting national cohesion. He encourages citizens to remain steadfast in believing in Nigeria’s destiny as a beacon of hope in Africa. Bayo Onanuga Special Adviser to the President

World powers on Thursday condemned U.S. President Donald Trump decision to impose steep tariffs on imported vehicles and car parts, warning of retaliatory measures as trade tensions escalate.

Germany, a major car exporter, called for a strong response from the European Union, while Japan stated it would “consider all options” in reaction to the tariffs.

Stock markets across Asia and Europe declined sharply, with leading automakers such as Toyota, Hyundai, and Mercedes experiencing significant losses.

The U.S. tariffs, set to take effect at 12:01 a.m. (0401 GMT) on April 3, will apply to foreign-made cars and light trucks, with key automobile parts also facing duties later in the month.

“What we’re going to be doing is a 25 percent tariff on all cars that are not made in the United States. If they’re made in the United States, it is absolutely no tariff,” Trump announced at the White House.

French Finance Minister Eric Lombard criticized the move as “hostile,” stating that the European Union’s only response would be to raise tariffs on American products.

Canadian Prime Minister Mark Carney said he had convened a meeting to discuss the country’s trade options in light of the new tariffs.

Amid growing warnings of retaliation from Washington’s key trading partners, Trump escalated his threats.

“If the European Union works with Canada in order to do economic harm to the USA, large-scale tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!” Trump posted on his TruthSocial platform.