Connect with us

News

Tinubu Defends Joint U.S. Airstrikes in Nigeria, Vows Continued Counter-Terrorism Cooperation In 2026

Published

on

President Bola Ahmed Tinubu has formally opened up on the joint military operations between Nigeria and the United States, aimed at taking the war against terrorists to their hideouts.

 

Tinubu, in his New Year goodwill message to Nigerians, acknowledged the military action against terrorist cells of Islamic State of Iraq and Syria (ISIS) in a suburb of Sokoto State.

 

President Tinubu, who noted that insecurity is inimical to economic progress, maintained that such attacks on terror networks and strongholds will be sustained in the North-West and North-East zones this year.

 

He reaffirmed that “in 2026, our security and intelligence agencies will deepen cooperation with regional and global partners to eliminate all threats to national security”.

 

He said: “My fellow Nigerians, the path of reform is never easy, but it is necessary. We remain mindful that economic progress must be accompanied by security and peace.

 

“Our nation continues to confront security threats from criminal and terrorist elements determined to disrupt our way of life. In collaboration with international partners, including the United States, decisive actions were taken against terrorist targets in parts of the Northwest on December 24.

 

“Our Armed Forces have since sustained operations against terror networks and criminal strongholds across the Northwest and Northeast.

 

“In 2026, our security and intelligence agencies will deepen cooperation with regional and global partners to eliminate all threats to national security. We remain committed to protecting lives, property, and the territorial integrity of our country. I continue to believe that a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards, all anchored on accountability, is critical to effectively addressing terrorism, banditry, and related security challenges.”

 

Speaking on the gains of his economic reform policies, President Tinubu enumerated a robust growth in Gross Domestic Product, trade surpluses, exchange rate stability, soaring foreign reserves which stood at $45.4 billion as of December 29, 2025 and a Foreign Direct Investment which has leaped to $90 million.

 

He said:” As we enter 2026, our focus is on consolidating these gains and continuing to build a resilient, sustainable, inclusive, and growth-oriented economy.

 

“We closed 2025 on a strong note. Despite the policies to fight inflation, Nigeria recorded a robust GDP growth each quarter, with annualised growth expected to exceed 4 per cent for the year. We maintained trade surpluses and achieved greater exchange rate stability. Inflation declined steadily and reached below 15 per cent, in line with our target. “

 

“In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household. In 2025, the Nigerian Stock Exchange outperformed its peers, posting a robust 48.12 per cent gain and consolidating its bullish run that began in the second half of 2023.

 

“Supported by sound monetary policy management, our foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the Naira. We expect this position to strengthen further in the new year.

 

“Foreign direct investment is also responding positively. In the third quarter of 2025, FDI rose to $720 million, up from $90 million in the preceding quarter, reflecting renewed investor confidence in Nigeria’s economic direction, which global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s, have consistently affirmed and applauded.”

 

President Tinubu assured Nigerians that “with patience, fiscal discipline, and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth.”

 

He added further: “As inflation and interest rates moderate, we expect increased fiscal space for productive investment in infrastructure and human capital development.

 

“We are also confronting the challenge of multiple taxations across all tiers of government. I commend states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on our people and on basic consumption.

 

“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria. By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity.”

 

Concluding his speech, President Tinubu called on Nigerians to acknowledge the fact that nation-building is a shared responsibility and urged all citizens to be willing to play their part and serve the nation with utmost dignity.

 

“To achieve our objectives in 2026, we must all play our part. Nation-building is a shared responsibility. We must stand together in unity and purpose, uphold patriotism, and serve our country with honour and integrity in our respective roles. Let us resolve to be better citizens, better neighbours, and better stewards of our nation.

 

“Fellow Nigerians, I wish you all a peaceful, productive, and prosperous New Year. May God continue to bless and protect our beloved country, keep our troops safe and destroy the enemies bent on disrupting our national peace, security and stability.”

News

Fire Outbreak Leaves Hundreds Of Traders Stranded At Yaba Market

Published

on

By

A major fire outbreak occurred at a market in the Yaba area of Lagos State in the early hours of Saturday.

The blaze, which reportedly began between 1:00 AM and 3:00 AM, has destroyed several shops and goods worth millions of naira, leaving numerous traders stranded and counting their losses.

Videos circulating on social media showed thick smoke and flames consuming parts of the market, while traders and residents scrambled to salvage belongings.

An eyewitness, Lugar Feliz, livestreaming on TikTok, noted that firefighters were already at the scene and identified the affected area as the Popo section of Yaba Market. Another user, Olamilekan Iyiola (@Olamilekan0932), described the incident as a “terrible fire outbreak in Yaba right now.”

Some residents expressed frustration over emergency response efforts. Adeoluwa (@Okunlola_Jude) reported that shops behind his property were completely destroyed, with losses estimated in the billions of naira. He added, “Fire service headquarters is just 10 minutes away, yet only one truck was brought to the scene.”

Sullex Print and Branding (@SullexBranding) also highlighted equipment challenges, claiming, “Three fire service trucks responded, but only one had water. The fire is currently at Ajibode Street, Yaba.”

As of Saturday morning, the cause of the fire remained unknown. No official statement has been released by the Lagos State Fire and Rescue Service regarding the extent of damage or potential casualties. Firefighting and containment efforts were ongoing, while residents called for enhanced emergency preparedness to prevent further losses.

Continue Reading

News

Union Bank Looted: How former directors gambled with billions and nearly destroyed a national bank

Published

on

By

The former directors and owners of Union Bank did not just fail, they engineered a financial disaster. They manipulated reports, hid massive losses, diverted foreign loans and treated depositors’ money like a private wallet.

 

Investigators uncovered billions of dollars in misconduct. These directors buried over ₦250 billion in losses, piled a $300 million foreign loan onto the bank without protection and then forced Union Bank to carry the burden. They even used the bank’s own funds to buy its shares, an outrageous betrayal of trust.

 

It didn’t stop there. Over $100 million was pulled out improperly, leaving the bank exposed and struggling. Loans meant for customers were secretly diverted into shady transactions. False reports were sent to lenders. The system was deliberately deceived.

 

This was not incompetence. It was exploitation.

 

By 2025, their actions had created nearly ₦400 billion in losses and over ₦147 billion in unpaid charges. The bank was on the edge.

 

The Central Bank of Nigeria (CBN) stepped in just in time. Without that intervention, Union Bank could have collapsed, dragging others down with it.

 

Now, the bank is stabilising. But let’s be clear: this recovery is happening in spite of those former directors, not because of them.

 

They didn’t build value. They destroyed it.

 

And Nigerians deserve to never forget who was responsible.

Continue Reading

News

Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity

Published

on

By

Islamic cleric Sheikh Ahmad Gumi recently defended his past interactions with armed groups, stating he “took the bull by the horns” in 2021 as a necessary step to address Nigeria’s insecurity.

In a post shared on Facebook on Thursday, Gumi said decades of neglect of disadvantaged populations had created deep socio-economic inequalities, leaving many youths vulnerable to manipulation by external forces seeking to destabilise the country.

According to him, the widening gap between the rich and the poor has turned many young people into “ready-made foot soldiers” in cycles of violence that enable the exploitation of Nigeria’s resources.

He also criticised the political class for being largely unresponsive, while noting that the intellectual community is preoccupied with survival struggles.

Reflecting on his past efforts, Gumi said he “took the bull by the horns” in 2021 by attempting to reintegrate violent elements into society rather than allowing them to be further radicalised.

He wrote: “Nigeria for decades has ignored the underprivileged section of its society. There is a significant socio-economic discrepancy, and the society is stratified. This makes our teaming youth ready-made foot soldiers for any foreign interest trying to divide us and rule. To plunder our resources while we are involved in a vicious circle of violence.

”Unfortunately, the political class is unattentive while the intelligentsia is held hostage in the struggle for existence.

“In 2021, I took the bull by the horns in an attempt to bring some of these uncouth elements back to our fold rather than letting them be exploited by the devil.

“I still believe this is the only way out of our predicament. However, it needs the political will and determination to achieve.

“May Allah bring peace back to our nation.”

Continue Reading

Trending