Author: oduduwanews

Says destruction is comparable to a financial sector collapse

The Foundation for Peace Professionals (PeacePro) has declared Nigeria’s agriculture sector to be in a deep structural crisis, warning that Nigerian farmers have lost nearly ₦5 trillion (approximately $4billion) in productive capital over the past two years due to policy induced price crashes, poor and misleading weather forecasts by the Nigerian Meteorological Agency (NiMet), and severe market distortions.

In a statement issued by its Executive Director, Abdulrazaq Hamzat, PeacePro described the losses as direct agricultural capital destruction at the producer level, stressing that the estimate does not include secondary economic effects such as consumer inflation, GDP contraction, foreign exchange pressure, or security related costs.

“Those impacts come later. What has already happened is the liquidation of farmer capital,” PeacePro said.

According to the organization, Nigeria did not successfully “control food prices” in 2024–2025. Instead, a combination of poorly timed policy interventions, price suppression mechanisms, weak market coordination, and unreliable weather forecasting by NiMet forced farmers to sell produce below cost, wiping out the capital required to sustain future production cycles.

“This was not a market correction. It was a policy shock that transferred value away from producers,” the statement added.

While Nigeria has an estimated 38–40 million people engaged in agriculture, PeacePro clarified that the most severe damage was concentrated among market facing producers, not subsistence farmers, although subsistence farmers were also adversely affected, particularly by poor and misleading weather forecasts issued by NiMet.

The most affected group includes 6–8 million producers, small and medium scale commercial farmers, storage poor price taking producers, farmers engaged in grains, tubers, vegetables, and legumes.

These producers supply Nigeria’s urban and regional food markets.

Hamzat explained that repeated price collapses across two consecutive production cycles resulted in aggregate capital losses approaching ₦5 trillion, even under conservative assumptions.

PeacePro maintained that the scale of destruction is comparable to a financial sector collapse, with one critical difference, “This crisis did not happen in banks or stock markets.
It happened quietly, in farms and rural communities.”

Hamzat also cautioned that depleted farmer capital will inevitably lead to reduced planting in 2026, lower domestic food supply, higher future food prices, increased rural poverty and social instability.

PeacePro therefore urged Nigerian authorities to publicly acknowledge the scale of agricultural capital destruction and immediately shift policy away from short term price suppression toward producer protection, capital preservation, and market stability.

“No country can bankrupt its farmers and remain food secure and Nigeria will soon pay the price for policy decisions that treated farmers as shock absorbers for inflation, if not corrected on time”

The Court of Appeal in Ilorin, Kwara State, on Friday dismissed the appeals of five men convicted for the 2018 Offa bank robbery, upholding their death sentences.

The appellate court, in an unanimous verdict delivered by Justices Ridwan Maiwada Abdullahi, Gabriel Kolawole and Abdul Dogo, affirmed the judgement of the Kwara State High Court, which sentenced the convicts to death by hanging.

The five men – Niyi Ogundiran, Salawu Azeez, Ibikunle Ogunleye, Ayoade Akinnibosun and Adeola Adeola Abraham – were found guilty of armed robbery, culpable homicide and illegal possession of firearms in connection with coordinated attacks on five commercial banks in Offa Local Government Area in April 2018.

The Kwara State Director of Public Prosecution, Mohammed Akande, said the Court of Appeal saw no reason to interfere with the trial court’s judgement.

He said the appellants failed to establish any miscarriage of justice. The Court of Appeal agreed with the High Court that the prosecution proved its case beyond reasonable doubt and upheld the convictions.”

It would be recalled that Justice Haleemah Saleeman of the Kwara State High Court had handed down the death sentences after a six-year trial that drew nationwide attention.

Tax expert and Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has reiterated that every individual in Nigeria—employees inclusive—must file annual tax returns on or before March 31, as required by law.

Oyedele explained that the Personal Income Tax Act (PITA) mandates all taxable persons to submit a return of income to the relevant tax authority, regardless of whether their taxes are deducted at source through Pay-As-You-Earn (PAYE). According to him, PAYE deductions do not replace the legal obligation to file annual returns.

He noted that filing tax returns helps authorities reconcile income declarations, confirm compliance, and improve the integrity of the tax system. “The law is clear: earning income in Nigeria comes with the responsibility to file a return. This applies to salaried workers, self-employed individuals, and others with taxable income,” Oyedele said.

Oyedele added that widespread compliance would strengthen government revenue without increasing tax rates, enabling better funding for public services and infrastructure. He warned that failure to file returns by the March 31 deadline could attract penalties and enforcement actions by tax authorities.

The tax expert urged Nigerians to seek guidance from licensed tax practitioners where necessary and to take advantage of digital filing platforms provided by state and federal tax agencies to meet the deadline set.

An Osogbo Magistrate Court has issued a bench warrant against United Bank for Africa (UBA) Plc and three of its senior executives over alleged illegal opening and operation of accounts linked to Osun State local government allocations.

The action followed a charge filed by the Osun State Attorney-General after complaints from local government chairmen that unauthorized accounts were opened to receive and manage LG funds. The case, marked MOS/601C/2025, was instituted against UBA and three officials of the bank.

Those named in the charge are Mr Oliver Alawura, Group Managing Director of UBA; Mr Billy Odura, Group Legal Adviser; and Mr Chukwuma Nweke, Deputy Managing Director. The prosecution alleges that the bank permitted the opening and operation of accounts not authorized by the Osun State Government for local government funds.

The matter is also linked to the ongoing local government leadership dispute in the state, following the nullification of a previous council election by the Federal High Court in Osogbo. The state government maintains that officials produced by that exercise are not legally entitled to control council affairs or funds.

Reacting to the court’s decision, Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, said the case centers on the lawful control of local government finances. He expressed confidence in the judiciary to handle the matter without fear or favour.
The court adjourned further hearing to February 10, 2026, as the legal process continues.

Presidential hopeful of the Peoples Democratic Party (PDP), Dr. Gbenga Hashim, has condemned what he described as a deliberate attempt by aides of President Bola Tinubu to fracture Nigeria along regional and ethnic lines, warning that such rhetoric amounts to a betrayal of the Nigerian nation.

Hashim said the renewed push for a North–South dichotomy by elements within the ruling All Progressives Congress (APC) is a desperate political diversion, aimed at shielding the Tinubu administration from scrutiny over worsening economic and governance outcomes.

Reacting to a statement attributed to the Chief of Staff to the President, Hon. Femi Gbajabiamila, Hashim described the strategy as “pedestrian, reckless, and fundamentally undermines Nigeria’s National Security interest”

“Dividing Nigeria along regional lines in order to escape accountability for governance failure is shameful and dangerous. It is a direct betrayal of the oath to defend the unity of the Federal Republic of Nigeria,” Hashim said.

Addressing the build up to the 2027 general elections, the PDP chieftain dismissed arguments centered on rotational presidency, insisting that Nigerians are no longer interested in symbolic power-sharing formulas.

“Nigerians are not asking for a Northern or Southern president. They are asking for a competent president, one who can revive the economy, secure lives and property, and unite the country around a shared future, of Prosperity ” he stated.

Hashim reminded the APC that both regions have had substantial opportunities to govern Nigeria since 1999, noting that the South has produced presidents for approximately 17 years, while the North has governed for about 10 years within the same democratic period.

“Leadership failure cannot be blamed on geography. Both regions have governed. What matters now is performance, not origin,” he said.

He warned that resurrecting ethnic narratives at a time of deep economic distress, rising insecurity, and social fragmentation only exposes the ruling party’s lack of credible solutions.

“Using ethnicity and region to mask incompetence is not only lazy politics, it is a direct insult to Nigerians who are struggling to survive,” Hashim added.

Calling on citizens across the country to reject divisive politics, Hashim stressed that the APC would not be able to hide behind regional sentiment in the next election cycle.

“Come 2027, Nigerians will vote for leadership, not tribal loyalty. The era of emotional blackmail is over,” he concluded.

The Department of State Services (DSS) has launched an investigation into allegations surrounding a planned conferment of chieftaincy titles to ten Fulani individuals by the traditional ruler of Ado‑Awaye, the Alado, Oba Ademola Olubgbile, following serious security concerns raised by youths in the community.

According to earlier statement made available to Oduduwa News, the youths under the aegis of the Ado‑Awaye Progressive Youths Movement (A.P.Y.M) have raised the alarm, warning that the proposed appointments could undermine traditional customs and threaten peace in the area.

In a press release dated January 28, 2026, the youth group said they were neither consulted nor involved in the process leading to the proposed chieftaincy appointments. While affirming the importance of peaceful coexistence among ethnic groups, A.P.Y.M insisted that chieftaincy matters must strictly adhere to established customs, historical practice, and due process.

The group also expressed fears that the appointments could, in the long term, expose Ado‑Awaye to security risks similar to those experienced in other parts of Nigeria, including banditry and kidnapping.

Sources closed to Oduduwa News revealed that the DSS Oyo State Branch has invited concerned parties for questioning as part of efforts to ascertain the facts and address the tension. The agency’s involvement underscores the sensitivity of the issue and the need to maintain peace and security in the district.

The youths have urged the Alado to halt the conferment process, engage key stakeholders including traditional leaders, community elders, youth groups and local government authorities and ensure greater transparency in any future chieftaincy decisions. They also called for the immediate reversal of any actions already taken and advised residents to remain calm and law‑abiding as the situation is reviewed.

The development has ignited conversations across communities about the balance between tradition, inclusion, and security, particularly in regions already navigating complex social dynamics.

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has declared that the Federal Government will not sacrifice Nigeria’s future to shield individuals and entities that have avoided paying taxes for years.

Oyedele made this known while speaking at the January business breakfast of the Franco-Nigerian Chamber of Commerce and Industry (FNCCI) in Lagos, where he addressed growing resistance to tax reforms and Nigeria’s poor revenue performance.

He noted that Nigeria’s tax-to-population ratio remains extremely low, stressing that only a fraction of eligible citizens currently pay taxes. “That is one tax from about 60 million people, compared to Nigeria’s 240 million people,” he said.

According to him, South Africa generated over N60 trillion from personal income tax alone in 2024, a figure that surpasses Nigeria’s total tax revenue from all sources combined. He added that while South Africa’s per capita income is higher, Nigeria still has significant untapped potential.

Oyedele emphasised that if Nigeria effectively captures personal income tax from its top income earners, revenue performance could improve substantially. “If you take the top 60 million people in Nigeria based on income, it will be comparable to the per capita income of South Africa,” he said, adding that tax reforms are critical to securing Nigeria’s long-term economic future.

The Peoples Democratic Party (PDP) has downplayed the judgment of the Federal High Court (FHC), Ibadan, delivered on Friday, assuring members and supporters that the ruling poses no threat to the party’s current leadership and political direction.

In a statement issued by its National Publicity Secretary, Comrade Ini Ememobong, the party disclosed that the court declined to grant the order of mandamus sought, on the grounds that doing so would amount to sitting on appeal over judgments of courts of coordinate jurisdiction.

The PDP said it has immediately briefed its legal team to file an appeal and take all necessary legal steps to advance its position and protect its interests in the matter.

According to the party, the Kabiru Turaki–led PDP that emerged from the Ibadan Convention remains legally intact, unshaken, and fully operational, pending the final and authoritative pronouncement of the appellate courts.

The party therefore urged its members to remain calm, resolute, and committed, stressing that there is absolutely no cause for alarm, as the REBIRTH movement remains firmly on course.

A Federal High Court sitting in Ibadan has nullified the Peoples Democratic Party (PDP) National Convention held in Ibadan, Oyo State on November 15, 2025, dealing a major blow to the opposition party and further deepening its internal leadership crisis.

The court, in a ruling held that the Ibadan convention violated the party’s constitution and electoral guidelines, particularly over the exclusion of some eligible aspirants and failure to comply with due process.

The judgment followed a suit filed by former Jigawa State Governor, Sule Lamido, who challenged the conduct of the convention, arguing that he was unlawfully denied the opportunity to participate in the contest for the position of National Chairman.

The court also restrained the Independent National Electoral Commission (INEC) from recognising the outcome of the Ibadan convention, effectively rendering all decisions and elections conducted at the event invalid.

Political analysts say the ruling is a significant setback for the PDP, as it worsens factional divisions within the party and raises fresh concerns over its readiness for future elections.

Governor Seyi Makinde on Monday declared that Oyo State must continue to build a stronger and more competitive economy that creates jobs, attracts investment and expands opportunities for residents, as the state marked its Golden Jubilee with a high-level Oyo @ 50 lecture and symposium at the International Conference Centre, University of Ibadan.

Speaking at the event, which formed part of activities to commemorate 50 years of Oyo State’s creation, Makinde said the next phase of the state’s development would be driven by deliberate investments in infrastructure, education, and institutional reforms that would position Oyo as a leading sub-national economy in Nigeria.

The lecture, themed around reflection and renewal for the next 50 years of Oyo State, provided a platform for stakeholders to review the state’s journey since creation and to outline a forward-looking vision focused on sustainable growth, peace, security, and good governance.

Governor Makinde emphasized that fiscal responsibility, improved security architecture and a business-friendly environment would remain central to making Oyo State safe, stable and open for both local and foreign investors, while ensuring inclusive development across all zones of the state.

He added that the Oyo @ 50 celebration was not only a moment to celebrate past achievements but also an opportunity to recommit to building a future defined by prosperity, institutional strength and expanded economic opportunities for all residents of the Pacesetter State.