COVER
Tinubu, APC Close Defence in Peter Obi’s Petition
President Bola Tinubu and the All Progressives Congress yesterday closed their defence in the petition filed by Mr Peter Obi and Labour Party (LP).
Lawyers to President Tinubu and the APC who called Senator Opeyemi Bamidele as their star witness informed the court that they have established their case through the witness and do not need to call another witness in the matter.
The witness who is a practicing Attorney in the United States of America and currently the Majority Leader of the Senate, in his evidence told the court that their is no record of criminal proceedings or conviction of Senator Bola Tinubu in the United States of America.
Senator Bamidele in his witness deposition further told the court that their is a shortfall of ten thousand, nine hundred and twenty-nine votes in the votes recorded for Senator Bola Tinubu in Kano state.
Earlier, the Presidential Election Petition Court (PEPC) admitted the Chicago State university records of President Bola Tinubu who formally opened his defence in a petition filed against his electoral victory by the Labour Party (LP) and its presidential candidate, Peter Obi.
At the resumed hearing of the petition, the defence tendered educational documents to establish Tinubu’s attendance and graduation at the American University comprising of the admission letter offered the president by the institution, as well as a United States of America visa from 2011 to 2021, among others.
Lawyers to President Tinubu also presented the membership register of the Labour Party in Anambra State to prove its case that Peter Obi was not qualified to contest the 2023 presidential election on the platform of the LP, as at the time of the election.
Tender LP Membership Register, 18 Exhibits Against Obi
At the resumed hearing of petitions at the court yesterday, President Bola Tinubu and Vice President, Kashim Shettima tendered a copy of the Labour Party (LP) membership register for Anambra State in proof of their argument that Peter Obi is not a registered member of the party.
Tinubu and Shettima had argued, in their response to the petition filed by Obi and the Labour Party, that not being a party member at the time of the 2023 presidential election disqualified Obi from contesting the last election on the platform of the LP.
The document was tendered by Tinubu’s and Shettima’s lawyer, Chief Wole Olanipekun (SAN), along with LP’s letter forwarding the membership register to the Chairman of the Independent National Electoral Commission, INEC.
Although the lawyer to the petitioners, Livy Uzoukwu objected to the admissibility of the documents, the court, however, admitted them and marked them as Exhibits RA17 and RA18.
Similarly, President Tinubu and Vice President Kashim Shettima yesterday tendered 18 exhibits before the Presidential Election Petition Court (PEPC) in a bid to escape the disqualification request of the Labour Party (LP) and Peter Obi, its candidate in the February election.
While Tinubu, for the second time in less than 24 hours, presented his records at the Chicago State University to the court, Shetima tendered his letter of withdrawal from the Borno South Senatorial race upon being picked to be Vice Presidential candidate.
Tinubu and Shetima tendered the exhibits to the court to debunk allegations of non-qualification to stand for the 2023 presidential election.
Through their lead counsel, Chief Wole Olanipekun SAN, Tinubu separately put at the disposal of the Court a letter of February 3, 2003, signed by a former Inspector General of Police (IGP), Tafa Balogun, requesting the criminal records of Bola Ahmed Tinubu from the Embassy of the United States of America in Nigeria.
At yesterday’s proceedings, where they opened their defence in a joint petition of the LP and Obi, Tinubu tendered another letter from the US Embassy which, in response to the Police letter, claimed not to have any criminal records of Tinubu.
While the Independent National Electoral Commission (INEC) and the All Progressives Congress (APC) did not object to tendering and admitting the documents as exhibits, the Peoples Democratic Party (PDP) and its presidential candidate, Alhaji Abubakar Atiku, vehemently kicked against the admission of the documents.
However, in spite of the vehement objection by PDP and Atiku, the court admitted the documents as exhibits to be used to determine whether the President attended the Chicago State University and to determine as whether he was convicted in the United States of any drug offences as alleged by Obi and his party.
Obi and LP had predicated their joint petition seeking nullification of Tinubu’s election on the ground of not having requisite educational qualification and conviction for drug-related offences by a US court, among others.
Similar exhibits had on Tuesday been admitted by the same court but in a different petition of Atiku and PDP, who are also asking the court to kick out Tinubu from the Presidency on the same grounds.
Besides the records on educational background and absence of criminal conviction, Tinubu tendered several US visas to establish his frequent visits to America and clearances obtained from the Nigeria Immigration Service (NIS).
Meanwhile, the defence has been stepped down for calling witnesses.
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.
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”.
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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