Governor of Lagos State, Mr. Babatunde Fashola on Wednesday proposed a budget of N489.690bn for the year 2014 before members of the State House of Assembly.
The budget proposal, which he described as zero-deficit, is made of Recurrent Expenditure at N234.665bn and Capital Expenditure at N255.025bn with a Capital to Recurrent ratio at 52:48 as against 58:42 in Year 2013. According to Fashola, this is a budget of consolidation.“As I promised last year about reducing our deficit, a zero deficit financing requirement is proposed for Y2014,” he said, adding that General Public Service takes N100,215,966,990bn or 20.47 per cent, Public Order and Safety takes N17,977,368,027bn or 3.67 per cent, Economic Affairs takes N160,046,436,169bn or 32.68 per cent, Environmental Protection takes N39,727,711,248bn or 8.11 per cent, Housing and Community Amenities takes N50,537,201,984bn or 10.32 per cent.
Also, Health takes N37,812,553,057bn or 7.72 per cent; Recreation, Culture and Religion takes N3,482,081,806bn or 0.71 per cent billion, Education takes N77,423,827,872bn or 15.81 per cent, and Social Protection takes N2,466,309,939bn or 0.50 per cent.Delivering the budget presentation speech at the chambers of the Assembly, Fashola said that every time he has had the privilege to present a budget for the State, he did so with a lot of pleasure and with a deep sense of responsibility for the expectations that the budget raises for the people that things will get better.
“Year after year, we have met those expectations and things have got better. That feeling of pleasure and the sense of responsibility is no less different today as I present our budget proposals for 2014,” he said.
“As far as responsibility goes, it is incumbent upon me to report how far we have implemented the 2013 budget as proof, if one is needed, that budgets are important for us, and that we do our best to keep the promises that we make.
“Many will recall that we were the first Government at any level to begin the quarterly reporting of budget performances in this democratic dispensation and this year has not been an exception since we started the practice in 2007.
In the first quarter of this year, I reported a budget performance of 61 per cent, while the second quarter performance was 83 per cent and the recently reported third quarter performance was 70 per cent giving us a cumulative aggregate performance of 71 per cent.”
He expressed the commitment of the government to improving upon the fourth quarter performance and ultimately the total year 2013 budget performance, but gave explanations on why the performances he just reported were not exceeded.“Let me start by saying emphatically, that budget implementation in Lagos is no longer a matter of capacity. We have a highly resourceful and well-motivated workforce in the public service; budget implementation is constrained by the limitation of financial resources. As our population continues to grow, the provisions that we require to support them and meet their expectations are also growing. Regrettably, the financial resources are not growing at the rate of our people’s expectations.
“While I salute those who pay their taxes and whose contributions have helped to continuously develop our state by taking our destiny in our hands, I urge those who are yet to start paying to do so. It is a commonwealth that gives everybody a chance to realize their aspirations. It requires a common contribution to make it sustainable. While our tax contributions have helped to reduce our dependence on the Federal Government monthly FAAC remittance, to about 35 per cent of our financial needs, that 35 per cent is still critical. The recent inefficiencies that States have experienced in the process of Federal Government agencies accounting for revenues and the consequent delays in remittances owing to disputes over accounts have affected all States in different degrees.
“While salaries were delayed in other states; happily, that did not happen here, but the effect was felt in a slight reduction of our third quarter budget performance. This state of affairs, of delays in the discharge by Federal Government agencies of their responsibilities compels me to make a comment about the recent announcement by the Federal Government that a $200m World Bank loan had been approved for Lagos to fund capital projects such as the Light Rail, Adiyan Water Works and so on.
“While I thank them for finally giving the approval, it is instructive to contextualize the timing of the approval. You might all recall that in 2010 when I presented the year 2011 budget, I announced that we had negotiated a World Bank loan for $600m to fund a three-year medium term expenditure framework for years 2011, 2012 and 2013 which required Federal Government approval.
“Although the approval for the loan was given then and the year 2011 first tranche for $200m was released in that year, the year 2012 and 2013 tranches were frustrated by Federal Government agencies. It is the year 2012 component and year 2013 component that is now being approved in the last quarter of 2013.
In truth and in fact, our state’s development was held up and slowed down for two years.“Progress on the Rail was held back, supply of additional 70 million gallons from Adiyan Water Works was slowed down, progress on Lagos Badagry Expressway was slowed down. Improvement in the quality of life of Lagosians was slowed down. But we did not sit idly by and moan. We are the Centre of Excellence. Our tax payers’ contributions were our inspiration. We went to the financial market to raise money, knowing that our state is solvent. So the projects such as Lagos Rail, Adiyan Water Works have started and the Lagos-Badagry Road progresses, even though the approval is just coming.”
Fashola lamented that the state has had to borrow money at shorter tenures of seven years and higher interest rates of 17 per cent and 14 per cent, instead of 1 per cent and 40-year tenure, which the delayed World Bank loan offered.
“But nevertheless, our spirits are high, the high interest costs notwithstanding; I am pleased to report progress on these construction sites which provides employment for 1000 workers on the rail project and 500 workers at Adiyan Water Works. The promise of reliable rail transport system for Lagos and an additional 70 million gallons per day of water when Adiyan is completed makes it all worthwhile.
‘Ti eni be igu loju. Igi ma ru we’.“As if all these were not enough, FERMA, another Federal Government agency, is threatening to start collecting fuel levies, which is a matter within the residual revenue authority of the state. As I have said before, we will resist this incursion by taking legal action to stop the desecration of our fiscal federalist principles.
“Distinguished ladies and gentlemen, in spite of the slowdown, whether by commission or omission, I am pleased to report that ‘Eko o ni baje!’ Our dear state is making progress on all fronts. Except for our cynical opponents who need ‘jigi Bola’ to see the progress, the overwhelming consensus within the state, outside the state and all over the world, is that Lagos is working. Our commitment to Power, Agriculture, Transportation and Housing is manifesting incredible results.
“We have just commissioned the 10mw Alausa Power Plant, which I promised in my budget speech last year. In the aftermath, we have de-commissioned over 120 generators and our secretariat is now on its own dedicated electricity power, run on clean gas fuel. It is the first government secretariat that I know of in our country that has its own dedicated IPP. We have also extended street lighting earlier in the year to Ikorodu Road from Jibowu to Anthony, as we have done across Lagos including 12 streets in Alimosho, and on Carter Bridge to mention a few.
“In total, we have now provided about 70km of street lighting across Lagos, to improve safety and stimulate our night economy.
We have dedicated the month of October as our Energy Month, during which we have commenced an energy saving initiative and just yesterday we flagged off a clean cooking energy initiative of Liquefied Petroleum Gas (LPG) to reduce wood cutting.“We are in the process of converting the remaining functional generators to LPG fired generators, which will save us 50 per cent in fuel costs. Pole by pole, IPP by IPP with Lekki and Ikeja GRA IPPs to come next year, we are committed to lighting up Lagos. In the area of Agriculture, we are gradually inching towards our objective of improving on food security. The governor of Ogun State graciously approved land for us pursuant to my request as I promised in 2011.
Although I told you that our rice cultivation moved from 20 hectares to 250 hectares and that we were targeting 500-hectare cultivation, I am pleased to report that we are now cultivating 850 hectares of rice and we are milling at our Imota Rice Mill.“From our farm in Araga, in Epe, we are now producing 150,000 eggs per day, translating to over 50 million eggs a year. Our fish and poultry farming programmes are empowering young and old farmers and agriculture has become a business as well as a strategic security initiative in our state. We are determined to also improve the quality of nutrition available to our citizens especially beef. Accordingly, the Ministry of Agriculture is acting appropriately to restore best practices to cattle rearing, slaughter and processing, including the sanctioning of operators of illegal abattoirs. We are not only enforcing, we are also training. This is why we sponsored 35 cattle dealers and butchers in Oko-Oba Abattoir on a training excursion to Kenya and Bostwana to sensitize them about the vision for cattle and beef production standards that we think our citizens deserve.
“As we embrace these standards, things can only get safer, businesses can only get stronger and opportunities will certainly expand for jobs and jobs seekers, if we move from sub-optimal practices to global best practices. As we deal with increasing capacity in the production of carbohydrates sources such as rice and cassava, and protein sources such as fish, poultry and beef, fruit and vegetable production are also increasing within the State in Araga Epe and from our farm in Osun state.”According to the governor, Lagos is also providing ready sales outlets and guaranteed market in farmers marts, which first started in Alausa and has now extended to Ajah and Surulere with a further three coming up in Shomolu, Ikorodu and LASU. He added that public transportation, the state’s biggest challenge, is by many parameters one of our biggest successes, as the history of the world shows that many cities and states often address one major transport solution at a time.
“The Boston Road Tunnel, the Mumbai Mono-Rail and the Madrid Bypass Calle 30 are examples of transport solutions individually undertaken in cities.
In this area, our state has set an unprecedented record of five simultaneous transport solutions undertaken by one government, from the 40.5km Lekki-Eti-Osa Epe Expressway, to the 61km Lagos Badagry Expressway, the 13.5km Mile 12-Ikorodu Expressway, the 27km Okokomaiko-Marina Lagos Blue Line Light Rail; to the ferry terminals in Ipakodo, Osborne, Badore, Mile 2-Ebute Ojo, it is obvious that your government has its hands full and remains committed to developing first class multi-modal transport solutions befitting of the economic and financial capital of West Africa. In the area of traffic management, about 2,406 personnel of LASTMA have been in intensive training for almost one year, and have written competence examinations and they are now set to graduate with a new ethos to traffic management.“Junction by junction, the number of traffic light installations are increasing and kilometer by kilometer, lane marking and traffic signs are appearing on our roads to make motoring a safer experience. We are encouraged that these solutions are working because of the feedback we get from citizens. On Friday 25th October 2013 a citizen sent me a text message saying: ‘The traffic light at Ojuelegba has been adjusted. No more hold up.’ As far as road repairs are concerned, the Public Works Corporation is building three new asphalt plants in Ojodu Berger, Ikorodu and Ajido Badagry to increase the speed of response to repair potholes; and the Ministry of Works is currently executing over 200 inner city road projects, which I promised in my budget speech last year.”
While he stated that it is impossible to list all the roads in the address, it was important to mention completed or ongoing works, such as:
Ago Palace Way in Okota
Salabiu Olanrewaju in Epe
Ado Kekere in Ajah Badore
Medical Road/Kodeshoh in Ikeja
Igi Olugbin in Somolu
Adetola Road in AgudaSinari Daranijo Street in Victoria Island
Glover Road in IkoyiIsaac John/John Ogunnaike in Ikeja
Balogun Amodu/Alhaji Dodoyowa in Ejirin Epe
Awolumate/Oguntande Street in Ifako Ijaiye
Showonuola Street in Agege
Akinola/Victor Fagbemi/Kollington/Imulokanle in Alimosho
Okusanya/Kufeji/Idowu Williams/Olaniyi at Ifako Ijaiye
Roundabout to Moshalashi/Ipaja/Ayobo Road in Alimosho
Bamgbose/Lewis, Alakoro, Marina/Kosoko Roads in Lagos Island
Orile Ilasan/Iroko Awe Road in Eti Osa
Continuing, the governor said: “In addition to these, there are bridge works in Ajao Estate, Agiliti, Tedi and Ijegun which are at different stages of construction and making progress towards completion. I have also recently approved the commencement of another 25 roads and as these roads and bridges are being completed, we expect to see improved connectivity and improved journey times.
Happily, the Lagos Traffic radio continues to remain the City’s favourite source of advance traffic information, while the Lekki-Link Bridge has achieved its iconic design purpose by becoming a favoured destination for residents and visitors alike and in the same vein is successfully performing its travel time reduction objective.“In response to public appeal, and after extensive consultations, our party the APC and our government have acquired the concession rights to the Lekki-Eti-Osa Expressway with the approval of the House of Assembly and plans are underway to complete the due diligence and takeover of the assets and to complete the road.
I am also happy to report that one year after its implementation, the Traffic Law has recorded huge successes in its life and property saving objectives.
Traffic accidents have reduced from 646 reported accidents in August 2012 to 118 reported accidents in July 2013, and deaths from motorcycle accidents have reduced from an average of 12 per month to one per month and indeed no deaths were recorded in August, September, and October.“We are concluding plans to implement the next phase of the Law, and we have been working with the Transport Unions to sensitize them. But before I move to housing; a little but serious word must be said about the Traffic Law.
Let me reiterate that out of over 10,000 roads in Lagos, the law restricted motorcycles from plying only 475, which are highways, if such motorcycles were not up to the 200 cc capacity. The law also provided that in the over 9,000 roads where there is no restriction, the riders must wear safety helmets and not carry more than one passenger.“While I must commend the operators for largely complying, I cannot say the same for a few law enforcement agents and few military personnel who have either turned enforcement into an extortionist exercise for money or have seen themselves as above the law by violating our traffic laws and BRT Laws. Let me say to them clearly, that it is bad enough if law enforcement personnel violate the laws they are constitutionally paid to enforce; it is the height of impunity if they do so in uniform. That uniform is the symbol of the authority of the state and it is funded from tax payers’ money. I have news for those bad eggs who give law enforcement a bad name in this country. We will bring you to justice and make examples of you; before you bring dishonour to these timeless institutions that have produced officers and true gentlemen.
“In the area of housing, I will not take more time than is necessary. I will only state that the LagosHoms programme is on course. Many of our housing units are making progress on 15 different construction sites, employing a total of 7,757workers, in Shitta, Gbagada, Ajara, Ilupeju, Sangotedo, Igbogbo, Mushin, and Omole to mention a few. At least 3,192 housing units will be added in the first quarter of 2014 to the already completed 1092 units.
“We intend to commence more developments to ensure that there is no shortage of supply once we start the allocation process. Apart from Power, Agriculture, Transport and Housing, we have not relented in other sectors. Our commitment to improving on the successes we have made in the area of security remains at an all-time high. We are consistently breaking up criminal gangs, arresting their members, recovering illegal arms and effecting seizures of hard drugs.”
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INEC Removes 1.6m Invalid Voter Records, Fingers 54 Officials in Registration Scandal
The Independent National Electoral Commission (INEC) has removed 1,608,660 invalid voter registrations from Nigeria’s preliminary voters’ register following a nationwide verification exercise ahead of the 2027 general elections.
The commission also disclosed that 1,749 records belonging to deceased persons had been identified and removed, while 54 individuals across ten states were implicated in alleged violations of established voter registration procedures.
INEC Chairman, Prof. Joash Amupitan (SAN), announced the development on Monday during a briefing with journalists on the outcome of the review of the preliminary register generated from the 2025/2026 Continuous Voter Registration (CVR) exercise.
Amupitan said the commission received 11,088,238 registration records from the three phases of the exercise but subsequently uncovered millions of questionable entries during its verification process.
He explained that the commission’s Automated Biometric Identification System initially flagged 1,545,052 records for further investigation, stressing that the automated flagging did not automatically invalidate the registrations.
According to him, 1,277,052 registrations were confirmed invalid and excluded before the preliminary register was published.
The commission subsequently reviewed additional cases following complaints, claims and objections submitted by Nigerians during the seven-day public display of the register between October 9 and 15.
Amupitan said 268,000 cases were subjected to adjudication, resulting in 217,722 registrations being declared invalid and removed, while 50,278 were cleared and retained.
He added that further screening identified another 113,886 invalid registrations, bringing the additional removals to 331,608 and the overall number of invalid records removed to 1,608,660.
The chairman said the exercise also uncovered serious irregularities involving duplicate registrations, suspicious photographs, unusual names and entries belonging to deceased persons.
He disclosed that INEC’s technical assessment revealed deliberate attempts to circumvent established registration procedures, including the misuse of provisions designed for exceptional registration circumstances, particularly those relating to persons with disabilities.
“Fifty-four persons across ten states have been identified as complicit, and necessary disciplinary action will be taken against them, including possible prosecution,” he said.
Amupitan said the affected records had been identified and subjected to verification and remediation, while personnel allegedly connected with the infractions had been marked for further administrative investigation.
He, however, warned that the latest clean-up had not completely resolved the integrity concerns surrounding the national voters’ register, noting that several irregularities predated the latest registration exercise.
According to him, many of the complaints involving multiple registrations and suspicious photographs circulating on social media relate to historical records captured between 2011 and 2023.
He explained that the national register had evolved through successive registration and continuous voter registration exercises since 2011, with biometric and demographic information captured using different technologies, operational arrangements and quality standards.
Although the register had undergone previous cleansing and biometric comparisons, he said significant historical integrity concerns remained and required a systematic response.
The INEC chairman also clarified that the commission’s decision to postpone its proposed nationwide voter revalidation exercise until after the 2027 elections did not suspend its existing mechanisms for identifying and removing invalid registrations.
He said the commission had resolved to address outstanding duplications in the historical register, directing that records flagged through public complaints and obvious cases identified internally should be removed after proper verification.
The clean-up followed public outrage over alleged irregularities in the preliminary register, with some Nigerians and civil society organisations questioning the credibility of entries containing suspected artificial intelligence-generated photographs, duplicate identities and records of deceased persons.
Citing Section 19(2) of the Electoral Act, 2026, Amupitan said INEC was required to receive and consider objections, claims and complaints submitted by members of the public following the display of the preliminary register.
The commission is expected to publish the cleaned-up National Register of Voters in December ahead of the 2027 general elections.
News
Elumelu: Africa’s Next Growth Story Must Be Owned by Africans – and Women
Africa’s next economic transformation must be financed by Africans, driven by private enterprise and powered by women, Tony Elumelu, Chairman of Heirs Holdings, has declared.
Delivering the keynote address at the 25th Annual Conference of the Women in Management, Business and Public Service (WIMBIZ), Elumelu challenged African business leaders, investors and policymakers to move beyond conversations about the continent’s potential and take ownership of its economic future.
“The world needs what Africa has,” he told delegates, insisting that the continent’s greatest asset is not its oil, lithium, agricultural land or mineral wealth, but its people.
And women, he argued, represent one of Africa’s most underutilised economic assets.
Speaking on the conference theme, _“Rooted, Rising, Ready: Born in Africa, Built for the World,”_ Elumelu identified African capital formation, reliable electricity, industrialisation, regional trade and strong institutions as critical pillars for unlocking the continent’s economic opportunities.
He also delivered a pointed message to corporate leaders: Africa cannot compete globally while systematically underutilising half its talent.
Africa’s opportunity – and the ownership question
Elumelu described Africa’s demographic advantage, mineral resources and expanding consumer market as one of the greatest commercial opportunities of the century.
By 2050, the continent’s working-age population will have expanded significantly, positioning Africa as a major source of global labour, consumption and economic growth.
But he warned that natural resources and demographic advantages alone would not deliver prosperity.
Drawing comparisons with Singapore and South Korea, he argued that economic transformation comes from building institutions, developing human capital and converting resources into productive industries.
He identified three major constraints holding Africa back: inadequate electricity, limited domestic value addition and insufficient investment capital.
“Factories cannot run without electricity. Hospitals and schools cannot function without it. And the AI economy everyone is talking about has two basic ingredients: power and connectivity,” he said.
On industrialisation, he challenged African countries to stop exporting raw commodities and importing finished products.
“Why ship raw lithium, raw cocoa, raw crude out of this continent? Refine it. Process it. Brand it. Then sell it to the world.”
He said Africa must transition from being a supplier of raw materials to becoming an active participant in global value chains.
African capital must finance African businesses
A central message of Elumelu’s address was the urgent need to mobilise domestic savings and institutional investment to finance African enterprises.
He argued that aid, while historically important in supporting vulnerable populations, cannot substitute for investment capable of creating businesses, jobs and ownership.
“The future is investment and trade, not aid,” he declared.
He called on African pension funds, insurance companies, banks and family offices to increase their investment in businesses across the continent.
However, he stressed that capital formation requires a supportive business environment, consistent economic policies, trusted financial institutions and growing domestic savings.
“Africa will not just offer solutions, but finance those solutions,” he said.
Citing Heirs Holdings’ investment in Seplat Energy, the London- and Nigerian-listed energy company, Elumelu highlighted the potential of African investment to create value for African investors.
He noted that Seplat’s share price had risen from approximately £3 to £9 since his investment, with its market capitalisation reaching about $7 billion at the time of his address.
He also referenced Aliko Dangote’s efforts to mobilise African retail investors around the proposed Dangote Refinery public offering as evidence of growing domestic participation in major African businesses.
For Elumelu, the objective is clear: African capital must increasingly finance African ambition.
The $120m investment in African entrepreneurs
Making a strong case for inclusive economic growth, Elumelu presented the results of the Tony Elumelu Foundation, which he co-founded with his wife, Dr Awele Elumelu.
Over 15 years, the Foundation has deployed more than $120 million in seed capital to 24,633 entrepreneurs across all 54 African countries.
Women account for 48 per cent of beneficiaries.
According to Elumelu, these entrepreneurs have collectively created more than 1.5 million jobs and generated over $4.2 billion in revenue.
He emphasised that the Foundation's selection process is merit-based, with entrepreneurs assessed on the quality of their business proposals rather than gender quotas.
He highlighted three women whose businesses demonstrate the commercial impact of relatively modest seed investments.
Princess Adeyinka Tekenah received $5,000 in 2015 and built Happy Coffee, an integrated coffee business sourcing beans from women farmers in Taraba State. Her enterprise has created more than 1,000 jobs and is positioning itself as a potential publicly listed Nigerian coffee brand.
Olamide Ayeni-Babajide, another $5,000 beneficiary in 2016, built a recycling enterprise focused on converting tyre waste into commercial value. Her business has recorded more than twenty-fold revenue growth and trained 15,000 people, most of them women and girls.
Nkem Okocha used her $5,000 seed funding to build Mama Moni, a financial technology social enterprise providing access to finance for low-income female entrepreneurs in rural and urban communities.
For Elumelu, their achievements reinforce a fundamental economic argument: women are not merely beneficiaries of development; they are drivers of enterprise, employment and wealth creation.
He disclosed that 265,529 young Africans applied to the Foundation's entrepreneurship programme this year, but only 3,200 could be funded.
That means just one in every 83 applicants received support.
The scale of unmet demand, he argued, exposes Africa's real problem.
“It is not a shortage of entrepreneurial talent; it is a shortage of capital.”
Women must move from participation to ownership
Elumelu also challenged corporate Nigeria to accelerate women's representation in executive leadership and boardrooms.
Using his own business group as evidence, he highlighted the leadership roles occupied by women across Heirs Holdings and its portfolio companies.
His wife, Dr Awele Elumelu, co-founded Heirs Holdings and chairs several businesses, including Avon HMO, Avon Medical, Heirs Insurance Brokers, Transcorp Hotels and Heirs Energies.
He also cited Owen Omogiafo, whom he supported for appointment as President and Group Chief Executive of Transcorp Group in 2020, making her the first woman to lead the conglomerate.
Under her leadership, he said, Transcorp strengthened its presence in power, hospitality and energy.
Following her elevation, Uzo Oshogwe became Managing Director and Chief Executive of Transcorp Hotels, while Awele Elumelu serves as chairperson.
He further highlighted the leadership of Somachi Chris-Asoluka at the Tony Elumelu Foundation, alongside other female executives across the Heirs Holdings portfolio.
At UBA Group, he pointed to women leading subsidiaries and regional operations across several African markets.
His message to business leaders was direct: appointing women to leadership positions should be driven by competence and commercial performance, not public relations.
“Women’s economic leadership is not a concession to fairness. It is a requirement for competitiveness,” he said.
“No serious economy can afford to systematically underutilise half its talent.”
Intra-African trade: The next frontier
Beyond investment and women's economic participation, Elumelu identified regional integration as another critical driver of Africa's growth.
He lamented that moving goods from Lagos to Liverpool can be easier than moving them from Lagos to Luanda, reflecting the persistent infrastructure and regulatory barriers limiting intra-African commerce.
He called for greater investment in roads, railways, ports, payment systems and efficient customs procedures to make the African Continental Free Trade Area commercially meaningful.
African businesses, he argued, must begin to see the continent as their natural home market rather than remain confined by national boundaries.
He cited UBA's expansion into 20 African countries as evidence that cross-border African business is achievable.
“We cannot build a continental market merely by signing documents,” he said.
He called for African banks to finance regional expansion, manufacturers to develop cross-border supply chains and technology companies to build solutions that serve the entire continent.
Strong institutions, stronger economies
On governance and institutional development, Elumelu said investors consistently assess markets based on the reliability of contracts, predictability of regulation, effectiveness of the courts and availability of infrastructure.
“Capital goes where it is safe, and it stays where it is respected,” he said.
He urged African governments to focus less on international investment roadshows and more on creating the conditions that attract and retain capital.
But he also challenged the private sector to accept responsibility for building strong institutions.
Businesses, he said, cannot demand accountability from governments while tolerating poor governance within their own organisations.
Paying taxes, publishing accurate accounts, promoting employees on merit and maintaining effective corporate boards are all part of institution-building.
'Do not wait'
Concluding his address, Elumelu returned to the central message of the WIMBIZ conference: the geography of opportunity is changing, and Africans must take ownership of that transformation.
He urged women entrepreneurs and professionals to pursue leadership, deploy capital, build businesses and create opportunities for the next generation.
“No one but us will develop Africa. Not the donors. Not the multilaterals. Not the partners, however welcome they are. Us.”
Addressing younger women in the audience, he challenged them to see themselves as the next generation of corporate leaders and business owners.
He also called on WIMBIZ to make its next 25 years even more ambitious, arguing that while advocacy had helped women gain access to decision-making spaces, capital was now essential to moving them into positions of ownership and influence.
“Advocacy got women into the room. Capital will get them to the head of the table,” he said.
His closing message captured the central argument of his address:
“Born in Africa. Built for the world. The world needs what Africa has. And what Africa has, more than oil, more than lithium, more than land, is you.”
Editorial note: Before publication, I recommend verifying the Seplat share-price and market-cap figures, the Foundation's cumulative funding and impact statistics, the 2026 application figures, and the executive titles and production figures. These are material business claims and should be independently substantiated.
Business
In The Spotlight
2027: Is Tinubu Fit to Run? The APC's Evasive Response to Nigerians' Questions
When the health of a sitting president becomes a national political controversy, party propaganda cannot replace public confidence. Nigeria deserves more than political declarations, campaign theatrics and dancing on stage._
There are questions that politics cannot silence. There are concerns that party loyalty cannot bury. And there are national conversations that no amount of political gymnastics can make disappear.
One of them is now staring Nigeria in the face: **Is President Bola Ahmed Tinubu fit to seek another four years in Aso Rock in 2027?**
The question has become so politically uncomfortable that the All Progressives Congress (APC) appears determined to answer it before Nigerians even finish asking it.
Enter Professor Nentawe Yilwatda, the party's national chairman, with a categorical declaration that Tinubu is fit to go. His argument? The President is capable, and his appearance dancing at an APC rally in Akwa Ibom is apparently enough to silence those questioning his health.
But hold on!
Is Nigeria's presidency now a dancing competition? Has the threshold for presidential fitness been reduced to the ability to shake one's shoulders before an enthusiastic crowd? Is the capacity to dance at a political rally the new qualification for governing a country of over 200 million people?
If that is the APC's standard, Nigerians have every reason to be worried.
A dancing president is not necessarily a working president. A smiling president is not necessarily a healthy president. And a president who can mount a campaign stage must still demonstrate the capacity to discharge the enormous responsibilities of his office.
Let us not pretend that the question emerged from nowhere. Tinubu's health and physical capacity have been subjects of public discussion, particularly in the context of his foreign medical trips, public appearances and occasional absence from important political engagements. Such developments have generated questions, speculation and competing political narratives.
But rather than confront the issue with maturity, some voices within the ruling party seem more interested in dismissing the questioners than addressing the underlying concern.
That is a political mistake.
Nigeria is not a private estate belonging to the APC. The presidency is not a party trophy. And the health of the man occupying the highest political office in the country is not an inconsequential subject that can be brushed aside with a wave of the hand.
Of course, Tinubu is entitled to dignity, privacy and the presumption that he is capable of performing his duties. No responsible person should turn unverified rumours into established medical facts. But the public also has a legitimate interest in knowing whether its president can sustain the demands of the office.
There is a difference between invading someone's privacy and demanding accountability from someone entrusted with the destiny of a nation.
The APC chairman should understand that difference.
THE DANCE THAT RAISED MORE QUESTIONS
Yilwatda's reference to Tinubu dancing at the Akwa Ibom rally may have been intended to project confidence and political strength. But it also exposes the weakness of an argument that attempts to answer a serious question with a theatrical demonstration.
Dancing for a few minutes is not the same as presiding over marathon cabinet meetings, confronting national emergencies, managing complex international relations and making consequential decisions under enormous pressure.
The presidency is not a weekend recreational activity. It is a 24-hour national responsibility.
Nigeria needs more than occasional appearances. It needs sustained leadership.
And this is where the APC must stop playing politics with a subject that deserves seriousness.
If the President is fit, the party should have the confidence to address legitimate questions without turning every inquiry into an opposition conspiracy. If the President is capable of another term, Nigerians should be able to evaluate that claim through credible information and his record in office.
Political declarations cannot manufacture public confidence.
BUT IS THE APC RUNNING AWAY FROM THE BIGGER QUESTION?
Perhaps the more important issue is not simply whether Tinubu can contest in 2027. It is what Nigerians are being asked to endorse if he does.
What has the President achieved since May 2023? What has happened to the purchasing power of ordinary Nigerians? Have the economic reforms delivered the relief citizens were promised? Has insecurity been brought under control? Are millions of struggling families better off today?
These are not opposition talking points. They are questions arising from the everyday experiences of Nigerians.
For many households, the cost of living is not a political debate. It is a daily battle. For communities threatened by banditry, terrorism and kidnapping, security is not a campaign slogan. It is a matter of survival.
For unemployed young people, the future cannot be measured by the number of political rallies attended by the President.
The APC must therefore resist the temptation to turn 2027 into a referendum on Tinubu's ability to withstand political criticism. The real referendum should concern his performance, policies, leadership and the future he offers the country.
A second term is not an entitlement. It is a request for another mandate.
And no incumbent, however powerful, should expect Nigerians to surrender their right to question that request.
THE OPPOSITION MUST ALSO BE HONEST
Yet, the opposition should not celebrate this controversy as though raising questions about Tinubu's health automatically disqualifies him from seeking another term.
That would be equally irresponsible.
Political opponents must distinguish between documented facts and speculation. They must resist the temptation to weaponise personal health issues or exploit unverified claims for electoral advantage.
If there are credible concerns, they should be raised responsibly. If there is evidence, it should be presented. Nigeria's political discourse is already drowning in propaganda; it does not need another flood of conjecture.
The country deserves an honest debate, not a political wrestling match over the President's body.
2027 MUST BE ABOUT NIGERIA, NOT JUST TINUBU
There is something profoundly troubling about a political establishment that appears more preoccupied with defending its leader than explaining its record to the people.
The APC chairman can declare Tinubu fit to go. Party loyalists can sing his praises. Supporters can celebrate his dancing, his speeches and his political survival.
But none of these things answers the most fundamental question: What does another four years of Tinubu mean for Nigeria?
That is the question that should dominate the political conversation.
Nigerians must not be distracted by the theatre of political declarations. They must demand a serious account of the administration's performance, its failures, its achievements and its plans for the future.
The President, too, must recognise that public confidence is not secured by the volume of applause at party rallies. It is earned through transparency, performance and the ability to inspire confidence in the country's future.
The APC cannot turn a national question into a party chant. It cannot dance away public concerns. And it cannot expect Nigerians to confuse political loyalty with evidence.
So, is Tinubu fit to go in 2027?
Yilwatda says yes. The opposition has its doubts. Nigerians must assess the available facts without surrendering to propaganda or speculation.
But perhaps the most important question is this: Is Nigeria getting the leadership it deserves?
Because, at the end of the day, the country does not need a president who can merely dance through campaign rallies. It needs one who can confront its problems, shoulder its responsibilities and deliver a better future for its citizens.
Aso Rock is not a dance floor. The presidency is not a talent show. And the future of more than 200 million Nigerians is too important to be decided by political choreography.
In 2027, the real test must be leadership, not theatrics; performance, not propaganda; and accountability, not applause.
The APC should remember one thing: Nigerians are watching. And this time, they want answers, not another dance.
By Emmanuel Emeke Asiwe(EEA), Publisher/Editor-in-Chief
In The Spotlight
US election fallout: Democrats may impede; will they impeach?
For millions of Americans, life under President Donald Trump has become an arduous struggle against the relentless pressures of economic survival. Despite the great promises made by the American president at the advent of his second term cycle, from the cost of groceries to the price of gasoline, from hospital bills to housing payments, the American household is confronting a financial squeeze that political rhetoric cannot wish away.
For these Americans, economic prosperity is not measured by the bullish exuberance of Wall Street but by the ability to put food on the family table without breaking the bank. The ordinary citizen is less concerned about the thunderous declarations emanating from Washington than about the dwindling purchasing power of the dollar in his pocket. No one pays mortgages with presidential proclamations or settles hospital bills with partisan propaganda. Ordinary Americans cannot eat political promises on the dinner table. It was in anger and frustration that the people went to the polls last Tuesday to demand a change in the disturbing dynamics of government as Trump faced significant dissatisfaction over his handling of the economy, immigration, healthcare, foreign policy and presidential power. The midterm election was effectively a referendum on Trump’s second term as president. The American President became the central issue.
Many Americans believe their cost of living has not improved under his leadership. In his second coming as president, Trump had promised economic improvement, but many voters feel that the benefits have not reached their homes.
And then came the war with Iran. Many nations around the world largely agree that Iran must not have a nuclear weapon. But as millions of Americans grappled with the excruciating pressures of economic survival, the war with Iran became the isolating icing on an already crumbling economic cake. It was a military adventure that threatened to estrange America from its international partners while deepening disaffection among citizens at home. At a time when ordinary Americans were demanding economic succor, Washington appeared more preoccupied with flexing military muscles abroad than alleviating financial misery at home. Voters questioned the human, financial and strategic costs of the war with Iran. Others worry about continued military involvement abroad. Many believe that the war was not worth its cost.
Although border security remains popular, critics argue that Trump’s immigration enforcement has become excessively aggressive. Americans were increasingly repulsed by the implementation of Trump’s hardline immigration policies. Armed to the teeth and operating under the banner of national security, the sight of gun-toting immigration enforcement agents stirred outrage and apprehension across communities. They became symbols of fear as fatal encounters raised haunting questions about whose lives were being protected and whose were being imperiled. Reports of eerie encounters involving federal immigration personnel intensified public anger, raising disturbing questions about excessive force, constitutional protections, and the sanctity of human life. What was ostensibly designed to secure America’s borders became a troubling spectacle of fear, intimidation, and government overreach in the eyes of many critics.
Many Americans believe Trump has exercised presidential authority too aggressively and worry about democratic institutions, accountability and checks and balances. Trump’s frequent confrontational rhetoric and political approach were seen as divisive, and his leadership perceived as provoking national polarization and divisiveness.
On Tuesday, Democrats tore through the seemingly impregnable, ironclad strongholds of the Republican Party. From Maine to Mississippi, from Texas to Kansas, the electoral landscape trembled under the weight of an extraordinary inevitable political revolt. An unmistakable message was sent that affordability matters, putting food on the family table matters, keeping businesses afloat matters, and economic survival matters more than partisan grandstanding and presidential garrulousness. The election produced astonishing upsets, shattered longstanding political barriers, and rewrote chapters of American electoral history. In Georgia, Keisha Lance Bottoms became the first Black woman ever elected governor of an American state. In my backyard of Wisconsin, David Crowley made history as the state’s first Black governor. In the Republican bastion of Texas, Gina Hinojosa shattered another political glass ceiling, becoming the first Latina elected governor of the Lone Star State.
And the political earthquake did not stop there. In Texas, James Talarico demolished a Republican stranglehold on a US Senate seat that Democrats had not won in nearly four decades. The young Democrat garnered more than five million votes, delivering a stunning rebuke to a political establishment that had long considered Texas an impregnable Republican fortress.
These were not ordinary electoral victories. They were political thunderbolts reverberating across America’s political landscape and rattling the foundations of Republican dominance. Americans may tolerate political theatrics for a season, but when economic hardship begins to threaten their survival, even the strongest partisan loyalties can buckle under the weight of daring discontent and strangulating disenchantment.
The ballot box became the battleground where economic anguish overwhelmed political allegiance, and the once-impregnable Republican fortresses crumbled under the weight of metastatic malcontent.
Will Democrats use their newly acquired congressional power to impeach Trump, impede his agenda, or improve the lives of struggling Americans? Under the US Constitution, the House needs only a simple majority to impeach a president. The Senate requires a two-thirds majority of senators present to convict. Why would Democrats bother impeaching President Trump when they know they are unlikely to secure the 67 Senate votes necessary to convict and remove him? Why embark on an impeachment voyage when the destination is already known? If the Senate cannot muster the votes to convict, is impeachment a constitutional necessity, a political spectacle, or merely an exercise in legislative futility? Perhaps the opposition would accomplish more by checking presidential excesses than by chasing an impeachment conviction it cannot secure. Democrats must decide whether their priority is to punish Trump’s alleged misconduct through constitutional proceedings or to constrain his policies through congressional oversight and legislative power. The power of the purse is one of Congress’s most formidable weapons. Under Article I, Section 9 of the Constitution, federal money generally cannot be withdrawn from the Treasury without appropriations authorised by law. A Democratic-controlled House could refuse to approve funding for certain Trump administration initiatives, demand spending restrictions, or negotiate changes to federal programs. Democrats could refuse to pass Trump’s proposed legislation on taxation, immigration, energy, healthcare, and other domestic policies.
A president can win the White House and still lose the legislative cooperation necessary to implement his agenda. A Democratic House could investigate alleged misconduct, conflicts of interest, misuse of public funds, or questionable administrative decisions. Such investigations could expose problems, generate public pressure, and force the administration to defend its actions. Congressional Oversight does not require impeachment. Committees could examine the activities of federal agencies, investigate implementation of executive orders, and question cabinet officials about their policies. Will democrats choose only to impede Trump’s agenda but not impeach the president? We keep our fingers crossed.
By Fola Ojo