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Nigerians boo World Bank chief on stage, for suggesting 15 years of more needed pains  

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Indemit Gill, Senior Vice President, World Bank Group, got a taste of the current feelings of Nigerians when his speech at a public function was punctuated with loud grumbling that nearly resulted to heckling for suggesting that Nigerians needed to endure another 15 years of their current suffering in the country.

A key speaker at this years, Nigerian Economic Summit, organized by the Nigerian Economic Summit Group (NESG), in Abuja, Gill, an Indian nationale, had to pause for several seconds as his suggestion elicited immediate negative reactions from the audience, made up of mostly chief executives of various bodies, to underscore that the parlous situation in the country, is widespread beyond just the poor.

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The World Bank boss, had started by advising Nigerian government to do everything in its power to protect the most vulnerable citizens in the county against hardships because their lives and the lives of over 110 million children depended on it.

Painting a gloomy picture of Nigeria’s economy, he had praised the initiatives taken by the government of President Bola Tinubu to reform the economy, referring to the removal of subsidy on petroleum products and floating of the nation’s currency, two key policies the people see as the source of their present excruciating financial and social pains.

But while the audience listened with rapt attention, it was at the point he said: “Nigeria will need to stay the course for at least another 10 to 15 years to transform its economy” that the rumbling started, making him pause to survey his audience, before continuing.

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Amid the persistent echoes of muffled voices of apparent discontent, he hurriedly concluded his speech, saying: “So I don’t know if you’re agreeing with me or if you’re disagreeing with me. If it does that, it will transform its economy into an enviable one.”

He added: “Now, during the coming year, Nigerian policy makers have to do three things. The first is to prioritise non-oil drilling. This requires a competitive exchange rate, which Nigeria now has. Nigeria’s real exchange rate is at its most competitive in at least 20 years.

“This is a great opportunity for the private sector. To protect the poor and maintain competitiveness, the Central bank must stay focused on inflation. It should resist the lure of short-term capital inflows that might push up the Naira’s value too quickly and crib non-oil growth.

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“It should rebuild foreign exchange reserves instead, as a cushion against oil price volatility.

“Again, I think Governor Cadorso (Governor of Central Bank of Nigeria) is doing many of these things, and he should be encouraged. The second is that every vulnerable household cope with is high inflation. The government is rolling out a large-scale targeted temporary cash transfer programme that has already reached between four and five million households. It should quickly extend this to 10 million households and perhaps more if necessary.”

Explaining that the government should, over the next few years, also install a cost-effective safety net to protect its most vulnerable citizens, financing it with some of the savings from fuel subsidy and exchange rate distortions, posited: “It has to make the economy more business-ready. And I think that the Chairman of NESG actually put out a very clear agenda of what needs to be done there.

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“In the next 10 years, more than 12 million young Nigerians, both men and women, will enter the workforce. Generating jobs for them will greatly be facilitated by the private sector. And, it will be facilitated by large-scale domestic and foreign private investment in the non-oil sector.

“Attracting such investment means boosting the national power grid, improving transportation, improving security, and improving the rules and regulations and the enforcement of private enterprise. So failure would set back reform efforts across the continent, besides ruining the future of yet another generation.

“Nigeria’s elites, we are all elites here in this room, must unite to support these reforms to enabling a broadly prosperous and stable Nigeria, they will be making perhaps the most valuable and the biggest request to their own children and grandchildren.”

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Gill who was full of praises for the World Bank team in Nigeria, described them as one of the best leaders, adding: “You have here an excellent country director. You have a top-notch team of economists, of energy specialists, operations staff, they have the expertise that is needed.

“Most importantly though, especially in difficult times, they have the experience that the moment demands. Many of these experts that you have here in the Abuja office are people who are veterans of similar reforms in places like Indonesia and many other places.

“You should take full advantage of that. But the one thing that struck me about our team here, as I prepared for this as I prepared for this visit, the most important thing that I learned about them is that they have great affection and admiration for everyday Nigerians. The Nigerian government and the people can count on their support 24-7 and this team will get all the support they ask for from the entire World Bank group.”

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BREAKING! Appeal Court halts Atiku! Says, Mark can’t be ADC Chairman!

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Atiku Abubakar seventh attempt at the presidency has been halted by the Court of Appeal in Abuja, which held that David Mark is not the fit and proper person to assume the position of the National Chairman of the African Democratic Congress (ADC) – the camp that produced the former Vice President as candidate of the party.

Hours after the former VP, who had attempted the bid for the nation’s number one job and is on the seventh edition by virtue of his nomination for the 2027 presidential election by the Mark, agreed with the position of the Federal High Court, Abuja, restraining the Independent National Electoral Commission (INEC) from recognising or participating in any state congresses organised by the former Senate President.

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Justice Okon Abang, while reading the lead-judgement in the three-to-one split, said there was no reason for the appellate court to set aside the April 29 order by the lower court, adding that Justice Joyce Abdulmalik, who barred Mark and his executives from interfering with the tenure and functions of the party’s elected state executives, was in order.

Agreeing that the responsibility for conducting state congresses of political parties rested with elected state executive committees and not with the national leadership, he ordered INEC not to recognise the executive produced as a result of the defective process.

Though his position was echoed by Donatus Okorowo in the majority, Justice Abba Mohammed, who disagreed sharply, with a dissenting judgment, held that the case that precipitated the restraining order bordered on a non-justiciable internal affair of a political party, adding that lower court was wrong to have assumed jurisdiction to entertain the matter.

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Lest we forget: Ibom Deep Seaport and Senator Godswill Akpabio — A prophecy foretold?

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By Ken Harries Esq

Some speeches disappear with the applause that greets them. Others acquire greater force with the passing of time. Their words do not change; history simply grows into them. Years later, they resonate with fresh power, not because they have been rewritten, but because the nation has finally arrived at the realities they foresaw.
One such speech was delivered in April 2012 at the 2nd South South Economic Summit in Asaba. There, Senator Godswill Akpabio, then Governor of Akwa Ibom State, presented what many regarded as an ambitious vision for maritime corridor and blue economy development.

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Speaking before political leaders, investors, and development stakeholders at the 2nd South South Economic Summit in Asaba, Akpabio outlined what many regarded as an ambitious vision for a model state in particular and regional development in general. Long before the Ibom Deep Seaport became a national priority, he argued that Nigeria needed new maritime gateways, integrated industrial clusters, aviation maintenance facilities, and modern logistics infrastructure to unlock economic growth. His vision was not simply about building a port; it was about creating an economic ecosystem capable of transforming a region and strengthening the nation’s competitiveness.

Fourteen years later, those remarks read less like political advocacy and more like an economic blueprint whose underlying logic has steadily been vindicated by events and times. Looking back today, his address appears almost prophetic—not because it predicted the future in mystical terms, but because Nigeria has gradually grown into the ideas it contained.

Truly visionary speeches never fade; they gather strength with time. This one deserves renewed attention, not because every prediction has materialised exactly as envisioned, but because it reveals a quality increasingly scarce in public leadership: the ability to think beyond electoral cycles.
Nigeria has never lacked projects. What it has often lacked are leaders willing to imagine the infrastructure of tomorrow while grappling with the demands of today. Akpabio’s vision was shaped by precisely that instinct.

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At a time when public discourse was largely focused on roads and recurrent expenditure, he spoke instead of logistics corridors, industrial ecosystems, aviation maintenance, manufacturing clusters, export processing zones, maritime and blue economy opportunities, and security reform—not as isolated initiatives, but as interconnected pillars of national competitiveness.

His vision for the then proposed Ibaka Deep Seaport, now known as the Ibom Deep Seaport, best illustrates this broader philosophy. Rather than presenting it as another state prestige project, he framed it as a strategic response to structural inefficiencies in Nigeria’s maritime sector and the wider economy. He argued that the Lagos ports were already burdened by severe congestion, with vessels waiting for extended periods to berth, driving up costs, disrupting supply chains, and delaying the delivery of critical imports, including pharmaceuticals.

His objective, however, was never to rival Lagos, but to complement it. The distinction is fundamental. No major trading nation concentrates all its strategic maritime infrastructure within a single corridor. Successful economies spread capacity, ease bottlenecks, and create multiple gateways through which commerce can flow efficiently. Nigeria has long recognised this principle in policy documents; Akpabio was among the few public leaders articulating it so clearly more than a decade ago.

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Equally significant was his emphasis on geography. He reminded his audience that Ibaka possessed a naturally deep coastline requiring little or no dredging, with water depths of approximately fifteen to seventeen metres. According to his account, the location had been identified as suitable for a deep seaport as far back as 1963, yet decades passed without meaningful progress. His observation that “being a minority area, there was nobody to push it” reflected a broader concern that strategic national investments have too often been influenced by political considerations rather than economic merit.

Whether one agrees entirely with that assessment is, in many respects, secondary. The larger point is that Akpabio consistently argued that national infrastructure should be driven by economic logic, strategic necessity, and long-term national interest rather than sentiment or political convenience. More than a decade later, that remains a lesson Nigeria is still striving to learn.

Yet, to see the 2012 Asaba address merely as a speech about a deep seaport is to miss its larger significance. The Ibom Deep Seaport was never presented as an end in itself. It was conceived as the anchor of a much broader economic ecosystem—a platform around which industries, manufacturing, aviation, logistics, free trade, and investment could flourish.

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Akpabio envisioned the acquisition of about 14,000 hectares of land to support a self-sustaining industrial city comprising fertiliser and ammonia plants, refining capacity, manufacturing facilities, and a Free Trade Zone. What development economists today describe as industrial clustering was already embedded in his thinking. The port was simply the gateway.

That broader vision deserves a discussion of its own. Today, Ibom Deep Seaport in that Asaba Speech has berthed.

•Ken Harries Esq is an Abuja-based Development Communication Strategist.

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Forgery: Nnaji, ex-Minister, regains freedom *Barred from leaving Nigeria!

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Justice Joyce Abdulmalik of the Federal High Court in Abuja, on Monday, granted allowed Uche Nnaji former Minister of Science and Technology, to go home, on the condition of a N20million bail bond.

Nnaji, who was arrested at Nnamdi Azikiwe International Airport (NAIA), Abuja on July 1 by officials of the Independent Corrupt Practices and other Offences Commission (ICPC), while returning to Abuja, was granted bail after pleading not guilty to a six-count certificate forgery charge.

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The anti-corruption agency alleged that Nnaji, Minister of Science and Technology between August 16, 2023 and October 6, 2025, when he resigned office after a crisis regarding his university degree broke out is currently the governorship candidate of the Peoples Democratic Party (PDP) in Enugu for in the 2027 general election, squaring up against Peter Mba, the incumbent, who incidentally won his office in 2023 under the same PDP, before defecting to the ruling All Progressives Congress (APC).

He was accused of forging his academic credentials, especially a degree certificate from the University of Nigeria, Nsukka (UNN) alongside presenting a bogus National Youth Service Corps (NYSC) discharge certificate during his ministerial screening process in 2023.

At the proceedings on Monday, the former Minister pleaded not guilty to the charges, and following an application by James Onoja (SAN), his lawyer, was granted to bail in the sum of N20 million with one surety in the like sum, who must also be a civil servant resident in Abuja, not be below grade level 15.

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The court, which ordered the surety to depose to an affidavit of means, mandated the former Minister to also surrender his international passport and not travel outside the country without permission, while fixing September 21 for the commencement of the trial.

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