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PDP, INEC Trade Accusations over Abia Poll

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The Abia chapter of the People’s Democratic Party (PDP) in Abia State and the Independent National Electoral Commission (INEC) have continued to trade words over the conduct of last Saturday’s governorship election on the state, which result is yet to be announced.

While the PDP accused the Independent National Electoral Commission (INEC) of bias in the ongoing collation of the results of Saturday’s governorship election in the state, the electoral body has denied the allegation.

The party made the accusation in a statement issued by its Acting Publicity Secretary and Vice Chairman (Abia North), Chief Abraham Amah, and made available to newsmen in Umuahia yesterday.

The statement was captioned, “2023 Abia Guber: INEC’s impartiality is highly questionable.”

“Abia PDP is constrained to state in very unequivocal terms that the impartiality of INEC in the ongoing collation of the 2023 Abia governorship election results is very questionable because of recent decisions it has taken to favour a particular party.

“In the process of the collation, the Labour Party (LP) prayed INEC to audit the BVAS accreditation of Obingwa Local Government Area, which INEC graciously granted and has already started the audit,” the statement read in part.

The party regretted that the audit was being carried out in the absence of its agents.

“The PDP agents have been shut out of the process, while the LP agents are involved.

“But to the chagrin of PDP, its request for INEC to subject the results of Aba North, Aba South, Umuahia North, Umuahia South, Osisioma and Arochukwu has been blatantly rejected.

“This is a clear case of partiality on the part of INEC in favour of the LP,” Amah added.

The ruling party therefore asked INEC to stop the audit and admit PDP agents into the exercise.

It further asked the commission to allow it time “to fly in its IT experts from the UK”.

It further asked INEC “to announce the results as they are and subject them to the judiciary for final adjudication.

“We also warn INEC to be mindful of the legal implications of tampering with the BVAS machines without a judicial clearance as this is clearly against the Electoral Act,” the statement added.

It contended that INEC’s recent behaviour is destructive to the nation’s democracy and would only serve to reverse the gains made in the past 24 years.

It warned that any attempt to subvert the popular will of the people by skewing the electoral process in favour of a particular candidate would be resisted.

The party, therefore, called on the people of the state to remain calm and peaceful, hoping that justice would prevail at the end.

Reacting to the statement, the Public Affairs Officer, Mr Bamidele Oyetunji, debunked the allegation of bias against the commission.

Oyetunji said that the collation of the governorship election results was being done transparently.

“INEC in Abia has been conducting the collation transparently in the presence of the media.

“The commission is not in any way biased either against or in favour of any candidate,” Oyetunji said.

INEC on Monday stopped the collation of the Obingwa results after its office in the area was allegedly invaded by thugs and the returning officer reportedly held hostage.

But the Independent National Electoral Commission (INEC), in a counter statement, denied allegation that its Chairman, Prof. Mahmood Yakubu, issued a directive at variance with the approved guidelines of the commission to distort Abia governorship election results collation.

Chief Press Secretary to INEC Chairman, Mr Rotimi Oyekanmi, in a statement in Abuja yesterday, advised the public to disregard the story as fake news.

Oyekanmi said that Yakubu never called the Returning Officer to give her a directive.

“Rather, the Returning Officer wanted the official communication on the Commission’s decision to suspend the collation of results in Abia State.

“The Chairman then directed that pending the delivery of the hard copies, the soft copies of the Commission’s letter be forwarded immediately to the Resident Electoral Commissioner of Enugu State and the Administrative Secretary of Abia State.

“The Returning Officer for Abia State then directed that the contents of the letter be read aloud by the Administrative Secretary in the presence of agents of political parties, observers, the media and security personnel at the Collation Centre.

“This is what is now being mischievously interpreted as a directive to the returning officer on some phantom criteria at variance with the approved guidelines. There is nothing like that,” Oyekanmi said.

“in fact, the content of the letter is basically the same as the commission’s press release dated Monday March 20 which has since been uploaded to the Commission’s social media platforms and is already in the public domain.

“The public should disregard the story as fake news,” he added.

A portal, Strenuous Blog, had quoted the state returning officer as alleging that she was being forced to do the wrong thing.

It reported that INEC Presiding Officer in Abia State, Nnenna Oti, said that Yakubu personally called her and gave her directives on guidelines to follow in ensuring that Abia governorship election results were collated based on some criteria.

The blog said that the Returning Officer said that on her own, she had decided that the will of Abia voters would not be subverted under her watch.

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Nigeria’s Capital Market Key to Achieving $1trn Economy – FG

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By Tony Obiechina, Abuja

Minister of Finance and Coordinating Minister of the Economy Wale Edun has emphasized the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy.Edun, who spoke at the Capital Market Committee (CMC) meeting, was represented by Minister of State for Finance; Dr.

Doris Uzoka-Anite highlighted the market’s transformation since 2015, with improvements in governance structures, new products and platforms, stronger regulatory environment, and growing investor participation.
According to the Minister, the Implementation of the Capital Market Master Plan (2015-2025), has been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness.
Edun said the revised plan prioritizes digitalization, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda.He said the passage of the new act modernizes the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding.On the challenges and opportunities inherent in the Act, the Minister said, it will help deepen market participation, as well as ensure regulatory coordination remains tight.On the government’s private sector innovation in creating the needed environment for businesses to thrive, the Minister noted that the government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment.The Minister added that the market is expected to contribute to the economy, serving not only for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.He explained that, with the Securities and Exchange Commission undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards amongst others, the domestic economy has recorded the fastest GDP growth in about a decade in 2024, driven by a strong fourth quarter and improved fiscal position.Earlier in his speech, the DG SEC, Dr. Emomotimi Agama, emphasized the Commission’s commitment to regulatory reforms and capital market growth.According to him the enactment of the Investment and Securities Act (ISA) 2025 marks the beginning of a transformative new era for the capital market.Agama highlighted the Commission’s efforts to deepen engagement with stakeholders, ensure widespread dissemination and understanding of the new law, and drive innovation and compliance.He also emphasized the importance of restoring investor confidence, bringing timely relief to aggrieved investors, and creating a platform for broad-based participation of Nigerians in wealth creation.The SEC boss noted that the Commission has constituted an implementation team to thoroughly engage with every provision of the ISA 2025 and set up a dedicated sensitization team to deepen public understanding of the new law. A podcast series has also been launched to simplify the ISA 2025 and make it accessible to all Nigerians.Agama highlighted the Nigerian capital market’s impressive performance in 2024, with the NGX All-Share Index increasing by 37.65% and market capitalization growing by 53.39%. He also noted the Commission’s efforts to enhance regulatory efficiency, promote market integrity, and protect investors.The SEC boss emphasized the importance of financial inclusion and investor education, citing the Commission’s initiatives to empower women, youth, and grassroots communities. He also highlighted the Commission’s commitment to technology-driven solutions, including the launch of an e-survey to assess emerging technology adoption in the Nigerian capital market.Agama concluded by emphasizing the Commission’s commitment to fostering growth, transparency, and sustainability in the capital market, and looking forward to fruitful deliberations at the meeting.The highlight of the CMC meeting was the unveiling of the ISA Act 2025 by the minister.

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FG Boosts Internet Access, Rolls out $2bn Fibre Network

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By David Torough, Abuja

The Presidency on Monday said Nigeria’s Communications and Digital Economy sector attracted $191m in foreign direct investment in Q1 2024, a nine fold increase from $22m in Q1 2023.The Minister of Communications, Innovation and Digital Economy, Bosun Tijani disclosed this during an interview for an upcoming State House documentary marking President Tinubu’s second anniversary.

Special Adviser on Information and Strategy to the President, Bayo Onanuga, revealed in a statement yesterday titled; “Investment in Digital Economy Grows Ninefold, Rollout Of $2 Bn Fibre Optic Infrastructure Begins Q4: Bosun Tijani.
”Tijani highlighted the sector’s robust workforce development, driven by the three Million Technical Talent programme and revealed plans for a $2bn initiative to deploy 90,000 kilometres of fibre optic infrastructure nationwide, starting in Q4 2025.
“These foundational reforms, coupled with advancements in artificial intelligence and the startup ecosystem, have positioned Nigeria as a global leader in the digital economy,” Tijani stated.Comparing FDI inflows, he said, “In Q1 2023, the sector had about $22m; by Q1 2024, with this administration well underway, we reached $191m. The trend continued in Q2, increasing from $25m in 2023 to $114 m in 2024.”According to the minister, the 3MTT programme, launched in October 2023 to create a tech-savvy workforce, has already trained over 117,000 Nigerians in digital skills, surpassing its initial target of 30,000.“By last year, we had already moved that to over 117,000. With an additional 35,000 in training, the programme is nearing 10% of its 3 m goal. And in the rest of the time in office, we hope to reach three million,” he said.Regarding connectivity, Tijani announced that Project Bridge, focused on deploying 90,000 kilometres of fibre optic cable, will commence in the fourth quarter.“We are preparing a $2bn investment to ensure every Nigerian can access affordable, high-quality connectivity regardless of location. Increasing connectivity hubs by just 10 per cent could yield a 2.5 per cent GDP growth,” he said.Tijani celebrated Nigeria’s ranking among the world’s top 60 countries for AI readiness and developing a homegrown large language model.He also highlighted the launch of the AI Collective platform, supported by leading partners including Pierre Omidyar, Google, and Microsoft, to foster collaboration and innovation in artificial intelligence.For the first time in the country, the ministry has funded 55 academic researchers to explore technology applications in agriculture, healthcare, and education. In addition, N300m was invested in 10 startups using AI and blockchain to enhance agricultural productivity.On the Nigeria Startup House in San Francisco, an initiative targeting $5 billion in startup funding, Tijani said, “Our goal is to attract $5 billion in investments for Nigerian startups, supported by the Startup Pact and Trade Desk initiatives, which will connect local tech firms to global opportunities and government procurement.”Tijani revealed that over 500 government technologists have been trained in AI and Digital Public Infrastructure, and the groundbreaking Digital Economy Bill has passed its first reading in the National Assembly.To bridge rural connectivity gaps, the Minister projected that 7,000 telecom towers would be deployed, targeting 98 per cent nationwide coverage, adding that the Federal Executive Council had already approved the project.He described the progress on Right-of-Way issues as a game-changer for the country, revealing that 12 states in the federation have adopted zero-rated Right-of-Way policies.According to him, these efforts will support the National Broadband Plan’s goal of achieving 90% penetration by 2025, up from 48% in 2024.He projected the sector’s GDP contribution to rise from 16 per cent to 22 per cent, stating, “If a sector can increase its contribution by three to four per cent to the GDP, we’re about to see the economic growth we’ve not seen before. Technology allows us to bridge the gap between governments and the people.”Tijani said the government is not chasing quick wins. “The results we want to provide for Nigeria are long-lasting reforms that will transform our economy for generations to come”.

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Abbas Recommends Israel, Brazil, Vietnam Revenue Diversification Models

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By David Torough, Abuja

Speaker of the House of Representatives, Hon. Abass Tajudeen, has declared that Nigeria’s heavy dependence on oil revenue would continue to leave its economy vulnerable, noting that agriculture remained the most viable alternative to achieving resilience.

Abass made the declaration in Abuja on Monday at a one day public hearing on some Bills seeking the establishment of agricultural colleges and institutions.
Represented by Chief Whip of the House, Hon. Ibrahim Isiaka, the Speaker said it was within this context that the establishment and expansion of Agricultural Research Institutions across the country are not only necessary but strategically urgent.He said Nigeria should “Emulate countries like Israel, Brazil, and Vietnam that have attained a significant leap in agro development by investing substantially in research and development.
”According to him, Brazil’s Embrapa, for instance, reengineered an infertile savannah into a global food hub, just as Vietnam’s targeted agricultural reforms pulled vast populations out of poverty, while Israel continues to innovate in arid-zone agriculture through technology-driven methods.Chairman of the House Committee on Agricultural and Institutions, Hon. Isiaq Abiodun Akinlade, recalled how in the 60s and 70s, the country was among the major exporters of agricultural produce such as cocoa, cotton, palm oil, and groundnuts.The lawmaker noted that Nigeria, with a population size of over 220 million and still growing, is desirous of more agricultural colleges and research institutions to help proffer solutions to issues, “namely climate change, insecurity, pest outbreaks, soil degradation, unskilled labourers, and livestock management.”

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