NEWS
Group Raises the Alarm over Plot to Frustrate Releases of N600bn Varsity Revitalisation Fund

By David Torough, Abuja
Determined to continue with its advocacy aimed at improving the quality of infrastructure in public Universities across the country for enhanced teaching and learning, a Non-Governmental Organization (NGO), Education Advancement Initiative (EAI) has called for immediate release of N600 billion this year as revitalisation fund for the public universities in Nigeria.
The group said the timely release of the funds will ensure that deteriorating infrastructure at the universities campuses are rehabilitated, as well pay the outstanding liabilities to members of the Academic Staff Union of Universities (ASUU), Non Academic Staff Union of Universities among others to forestall disruption of academic calendar by the unions.
The group which also accused government officials of clandestinely plotting to destabilise public Universities in favor of privately owned which they have vested interest, decried the none release of N300 billion universities revitalization fund captured in the 2023 Appropriation Act, but was not accessed due to the failure on the part of the Office of the Accountant General of the Federation to release the monies to the benefiting institutions, insisting that the N300 billion provided for in the 2023 appropriation Act be roll -over and anther N 300 billion for 2025 be release this year to carter for the long neglect which the university system has suffered.
Director, Programme, Education Advancement Imitative, Dr. Abimbola Tobi, who spoke to newsmen over the weekend in Abuja, blamed government functionaries, particularly officials of the Ministry of Finance and the Accountant General’s Office, of a deliberate plot to sabotage public university education and promote private ones which they owed or have vested interest in.
Tobi said lack of funding of public universities by successive governments portends grave danger to nation development.
He said, hence the same government failed to release the 2023 funds in 2024, it will only be proper and just that both 300 billion for 2023 be roll- over and another N300 Billiton for 2025 be released amounting to N600 billion as total releases for this year.
Dr. Tobi advised the federal government to provide a special emergency fund to tackle this problem, instead of waiting for an envelope budgetary system.
According to him, due to long time neglect, infrastructure at the public universities have decayed so much that only the release of 2023 and 2025 amounting to 600 billion will be reasonable to complete ongoing projects and undertake new ones.
“We urged the federal government to pay at least 2 tranches of 2023 and 2025 for meaningful projects to be carried out.”
He stated that the refusal of the government to release the university revitalization fund is gradually killing public universities, adding that infrastructure that could aid teaching and learning has become an eyesore in almost all the universities in Nigeria.
He said if public university education is allowed to collapse by way of government lukewarm attitude to funding; the country will suffer dire consequences as there would be increased crime rate precipitated by joblessness and lack of skill to engage in productive ventures by the young population.
Tobi, a trained educational programme specialist, insisted on the release of the revitalization fund and called on President Bola Tinubu to quickly save the university system by directing the AG’s office to release the N600 billion captured in 2023 and 2025 budget to universities.
According to him, the Tinubu-led Administration’s Student Loan Scheme will amount to nothing, should the infrastructure decay in the nation’s citadel of learning remain unattended.
The EAI official insisted on the implementation of the 2009 agreement between the Federal Government and then ASUU on the Needs Assessment programme.
According to him, the organisation’s recent interaction indicates that ASUU is deeply angered by the failure of the Federal Government to honour the 2009 Needs Assessment agreement aimed at providing N220 billion annually as an intervention fund for the revitalization of public universities in Nigeria.
He warned the president against abandoning the needs assessment scheme designed to provide funds for the reinvigoration of public universities, particularly rehabilitation of decaying infrastructure as well as the provision of state-of-the-art teaching and learning equipment to the schools.
He appealed to the president to cause the immediate release of funds for the continuation of critical projects in the institutions being executed under the nerd’s assessment project.
According to him, the university community anxiously awaits the commencement of the projects.
Tobi advised the president whom he acknowledged has made significant statements towards revamping the education sector to release funds for the projects to ensure a stable and quality academic environment.
It would be recalled that the Federal Government in 2009 reached an agreement with ASUU for the provision of 1.3 trillion on annual tranches of N220 billion over a period of 5 years as intervention funds for the revitalization of universities.
A review of the agreement was done in 2014. However, it is yet to be implemented resulting in several industrial actions by ASUU which distorts the academic calendar in the ivory tower.
Our investigation revealed that officials of the Federal Ministry of Education are making frantic efforts to prevent any form of strike action under the Tinubu led government but the Office of the Accountant General of the Federation is yet to show concern in addressing the matter.
NEWS
Mutfwang Vows to Tackle Poverty through Agriculture, People-oriented Governance

From Jude Dangwam, Jos
Plateau State Governor, Caleb Mutfwang has reiterated his administration’s commitment to addressing the real needs of the people, focusing on tangible impacts that deliver people-oriented governance under divine guidance.Mutfwang, who spoke on Sunday during a Pentecost Sunday Service held at St.
Luke’s Cathedral in Jos, acknowledged the security challenges facing some communities, describing them as distractions. The governor emphasised that insecurity remains a serious concern, but believes it’s a distraction from the core issue of poverty.He stressed that poverty is the root challenge that needs to be tackled with determination and a multi-dimensional approach, particularly through agriculture.Mutfwang highlighted agriculture as a key sector that holds great promise for transformation and lifting people out of poverty.The governor said, “We will continue to trust God as we strive to do our best in the service of Plateau State. We are fully aware of the difficulties people are facing, and we are continually exploring sustainable ways to alleviate their suffering.“We know that things are not easy for many families, and the expectations are high. While not all of our efforts may yield immediate results, we are confident that we are on the right path by the grace of God.“For us on the Plateau, insecurity remains a serious concern, but I have always maintained that it is a distraction. The core issue we must confront is poverty. Our focus is on lifting our people out of poverty, particularly through agriculture, which holds great promise for transformation.”Mutfwang also revealed that plans are underway to return all missionary schools to their original owners, in line with the state’s commitment to educational revival.He commended St. Paul’s Academy for its outstanding academic performance, notably when one of its students recently emerged as the second-best candidate in the JAMB examination nationwide.He called on citizens to join hands with the government in tackling the state’s challenges, emphasising the need for collective responsibility to drive Plateau State forward.In his sermon titled “The Power of Pentecost,” the Bishop of the Anglican Diocese of Jos, Rt. Rev. Dr. Ephraim J. Gongden emphasised the indispensability of the Holy Spirit in the life of every believer.He urged Christians to live out the fruits of the Holy Spirit in their daily lives.The Church commended Mutfwang for initiating and implementing impactful programs that have improved the lives of citizens.They assured him of their continued prayers and support as he steers the affairs of the state.NEWS
Robust Capital Market Crucial for Nigeria’s Economic Prosperity- NGX Chairman

Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, says the Nigerian Capital Market has experienced exponential growth since he assumed office in 2022.He reiterated the group’s commitment to deepening Nigeria’s capital market in alignment with President Bola Tinubu’s vision of growing the nation’s GDP to one trillion dollars by 2030.
In a statement issued in Lagos, Kwairanga was said to have made the remarks while delivering a keynote address at the “For the Love of Our Country (FLOC) 2025” symposium, held at Bayero University Kano (BUK) on Friday. He spoke on the theme, “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Were, Where We Are, and Where We Should Be in the Next Decade”.According to him, the All Share Index (ASI) rose from 48,837 basis points to 111,742 basis points, while market capitalisation grew from N26.375 trillion to N70.463 trillion by May 2025.He said that bond markets were included with total market capitalisation now at over N121 trillion.“This growth shows that we have more than doubled the indices of both our equity and bond markets in just over two years.“However, our goal is even more ambitious as we work towards making the capital market central to achieving a $1 trillion economy,”he said.Kwairanga emphasised the strategic importance of a robust capital market in financing long-term infrastructure, encouraging formalisation of businesses, and mirroring the nation’s true economic potential.He noted with concern that Nigeria’s market capitalisation remains less than 20 per cent of Nigeria’s GDP, compared to South Africa’s Johannesburg Stock Exchange which exceeds its national GDP.To address this, he outlined several initiatives being undertaken by NGX Group and its regulators, particularly the Securities and Exchange Commission (SEC), to enhance market transparency and efficiency.He said these include the dematerialisation of share certificates, resolution of unpaid dividend backlogs, and the recent reduction in clearing time for secondary market transactions to T+2.“We are working closely with regulators and stakeholders to make our market more accessible and attractive.”He said that major listings in the oil and gas sector, such as the planned sale of a stake in NNPC Ltd. and the anticipated listing of Dangote Petrochemicals, would significantly boost market capitalisation.He also spoke on digital innovation as a key driver of market participation, citing the launch of NGX Invest, a digital platform for primary market offers and financial literacy campaigns targeting youths, students, and members of the National Youth Service Corps (NYSC).The chairman revealed the ongoing engagements with institutional investors such as pension fund administrators and mutual funds.He also hinted on the development of sophisticated products like exchange-traded funds, derivatives, and ethical investment instruments.He highlighted efforts to integrate African capital markets through cross-border linkages that would allow investors in Nigeria to trade shares listed on exchanges in countries like Ghana and vice versa.In spite challenges such as declining disposable income, infrastructural deficits, and global economic headwinds, Kwairanga expressed optimism that these could be surmounted.“We are confident that Nigeria will have the broader, deeper, and more sophisticated capital market it deserves before the end of this decade,”he said. (NAN)NEWS
FCT Emergency Department Rescues Suspected Victim of ‘one Chance’ in Asokoro

The Federal Capital Territory Emergency Management Department (FEMD) says it has rescued a woman, who was forcefully pushed out of a moving vehicle in Asokoro, Abuja, on Friday.The department’s Head of Public Affairs, Mrs Nkechi Isa, disclosed this in a statement in Abuja.
Isa said that the incident occurred at about 4:30 p. m. at the Powerhouse Bus Stop Junction,Yakubu Gowon Crescent in Asokoro. According to her, eyewitnesses at the scene said the woman was pushed out of a moving vehicle suspected to be a robbery, by “one chance” operators.She described “one chance” as a criminal gang posing as commercial drivers with passengers, leaving one space (one chance) for an unsuspecting victim.Once they take off, the criminals dispossess the victims of their valuables and often throw them out of the moving vehicle.She said that the FEMD Search and Rescue Team was notified of the incident by the FCT Fire Service and immediately swooped into action.“On arrival at the scene, the team found the victim, identified as Khadija Salisu, unconscious but without visible physical injury.“She was promptly taken to the Asokoro District Hospital and is responding to treatment,” Isa said. (NAN)