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Atiku canvasses restructuring at LBS, Obi replies Soludo

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Atiku canvasses restructuring at LBS, Obi replies Soludo

Presidential candidate of Labour Party (LP), Peter Obi, yesterday, gave a response to the opinion piece penned by the governor of Anambra State, Prof. Chukwuma Soludo, setting the stage for a feisty verbal exchange between the two leading lights of Anambra and the Southeast region.

Reacting to Soludo’s treatise titled, ‘History beckons and I will not be silent (Part 1), where the governor disclosed that the investment he (Obi) left in government was worth close to nothing and the LP candidate can’t win the 2023 presidential election, Obi said he did his little as governor of Anambra and urged the incumbent governor to do his best in the state as an economics professor.

Speaking at the 2022 Lagos Business School (LBS) Alumni Conference, Obi described Soludo as his brother.

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“He (Soludo) remains my brother, we are very close. I remain prayerful for him. For other things, which I didn’t succeed, God has given him opportunity to do it and succeed. So, if there is anything pending, governance doesn’t finish, people are still in government in America, so, you stop where you will stop, other people will continue from there.

“He is the governor of the state; he is my senior brother, he is even more intelligent than me, because he is a professor, I am a trader, so, he knows more and will be able to do things better than I did.

“I have done my little as a trader, now the professor is there, he will do his own as a professor, the schools I didn’t roof, he will roof them, that’s how government goes.”

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The former governor said he left office with N75 billion savings, adding that his administration saved $50 million each in Access, Diamond and Fidelity banks with an interest rate of 6.5 per cent.

He further clarified: “The one they said is worthless, we invested N3.5 billion in International Breweries. That facility is there employing directly and indirectly over 10,000 Anambrarians. The shares were at a time being sold at N50, today, the share is about N5 or so.

“When you spread your investment, some will go up some will come down but overall the company is still there, the company is still doing well, it is still part of the global chain. I needed to explain it not because I am defending comments by my brother,” he said, adding that he left the office without owing any contractor or supplier who had executed his or her job.

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ALSO joining the fray, the apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, lashed out at Soludo over his statement, saying it has dragged the governor to two deities in Igbo land, for discrediting the legacies of Obi.

The group in a statement signed by its Secretary-General, Okechukwu Isiguzoro, said: “Ndigbo have dragged Soludo to the two famous divinities and deities (Chokoleze in Mbaise and Ubiniukpabi in Arochukwu) for his unreasonable public behaviour.

“Soludo’s actions are ridiculous, unreasonable and premature; there was no locus for the governor’s outburst and the sanctions against Soludo to face Igbo deities will serve as a deterrent to Southeast politicians who have been hired by enemies of Ndigbo and Nigerians to derail Obi’s presidency in 2023.

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“Soludo exposed and indicted himself of treachery when he discredited the All Progressives Grand Alliance (APGA) and LP presidential candidates as not viable alternatives to win the 2023 elections. How can a governor of two presidential candidates (APGA and LP) make such a public declaration?

“We advise Soludo to concentrate on the current crisis in Anambra and stop casting innuendo and aspersions on the person of Obi,” the statement said.

In the same vein, National Chairman of LP, Julius Abure, described comments made by Soludo as remarks borne out of jealousy.

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Abure said Soludo, who was at some point the Governor of Central Bank, would first speak condescendingly about a sound investment decision made by Obi.

“Even Soludo rose on the legacy of Obi, because Obi was the first governor that rose to power through the APGA platform. Obi built the party, consolidated it and worked for the people of Anambra, which gave people confidence to continually vote for APGA.”

He further said that Soludo’s recent tirades is confirmation that Obi’s ambition is not an Igbo project but pan-Nigeria.

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“This project is certainly not about Umunna! Even brothers and sisters normally disagree. It is a Nigeria project.”

MEANWHILE, the duo of Obi and presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, yesterday, revealed their security and economic plans for the country at the LBS conference.

The sessions, which was moderated by Franklin Ngwu, an associate professor of strategy, corporate governance and risk management at the Lagos Business School, and Muda Yusuf, founder/CEO, Centre for the Promotion of Private Enterprises (CPPE), was tagged: “The Leadership Imperative.”

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Specifically, Atiku said that the review of the Constitution is highly essential to the unity of Nigeria, as his administration will pursue it with all seriousness if he wins next year’s presidential election.

The former vice president maintained that there would be a convergence, noting that what is currently at play with multiple exchange rates hurts the private sector, which contributes about 79-80 per cent of the Gross Domestic Product (GDP).

Atiku added that his administration would privatise the oil and gas sector to generate income for the country and make Nigeria the refinery hub of West Africa.

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“Up till now, our moribund refineries are not functioning and yet we are spending money on them. As far as I am concerned, we would rather privatise them, we have about three of them and we have been spending money without any production. If we had privatised them, they would have been producing today, no private sector will buy a refinery and be spending money and allow it not to be in operation.”

Speaking on inflation, Atiku said inflation is a by-product of a bad economy and once the economy is put on the right track, inflation will be controlled.

Atiku further said his agenda for restructuring is to ensure that the government becomes more efficient.

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To this end, he said that he would encourage the National Assembly and state Houses of Assembly to come up with Constitutional amendments that will give more powers and resources to state and local governments.

“As Vice President between 1999 to 2007, I headed the economic team that implemented fundamental economic reforms, including the design and implementation of a private sector revival strategy.

“We focused on macro-economic stability and transforming critical areas such as banking, insurance, oil and gas, telecommunications, pension and the civil service.

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“We created novel institutions for laying the foundation for good governance and accountability such as the Bureau of Public Procurement (BPE), Economic and Financial Crimes Commission (EFCC) and SERVICOM.

“With many years in the private sector, I have a deep understanding of our economy and its challenges.”

Obi, on his part, called for the overhaul of the cost of governance, thereby making it functional, adding that the structure of the country is not working.

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“The cost of governance in Nigeria is unacceptable. The entire system needs an overhaul, to make it more functional, to train people more so that it will be able to bring technology for efficiency and effectiveness.”

On foreign exchange, Obi said “the rate and volatility of your foreign exchange is a function of your foreign reserve, which is directly linked to your export, because you are not a country that is productive.”

He said to control and bring stability to the currency, there is a need to export and earn dollars, saying that Nigeria cannot be 80 per cent dependent on oil that gives less than $20 billion.

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Obi said the country needs to start production and export of goods, saying it is the only way to earn dollars and curb scarcity.

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Adamawa Business School Hosts Workshop on New Tax Reform Law

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Adamawa Business School Hosts Workshop on New Tax Reform Law

Adamawa Business School Hosts Workshop on New Tax Reform Law

By Ibrahim Abubakar Jimeta

The Adamawa Business School (ABS) has organised a high-level training and sensitisation workshop on the New Tax Reform Law in Nigeria, aimed at enhancing understanding of recent fiscal reforms and strengthening public sector administration in Adamawa State.

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The workshop, held in collaboration with the Office of the Head of the Civil Service of Adamawa State and supported by the Federal Inland Revenue Service (FIRS), brought together Permanent Secretaries, senior public servants, tax officials, and policy experts to examine the implications of the new tax framework for governance and fiscal sustainability.

Speaking during the opening session, the Co-Founder of Adamawa Business School, Mallam Jamilu Yusuf, described the workshop as a strategic intervention designed to bridge knowledge gaps and improve policy implementation within Ministries, Departments, and Agencies (MDAs).

Yusuf explained that the engagement was organised under the school’s Public Policy Support Initiative, a non-profit platform that provides research, training, and capacity development support to government institutions. He noted that Nigeria’s evolving tax landscape, driven by Finance Acts, administrative reforms, and digital innovations, requires senior public officials to be well-informed in order to translate policy into effective practice.

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According to him, Permanent Secretaries and top civil servants play a crucial role in ensuring compliance and successful implementation of tax reforms at the sub-national level, stressing that inadequate understanding of tax laws often creates implementation challenges that negatively affect citizens and institutions.
He reaffirmed Adamawa Business School’s commitment to supporting the state government through policy-focused learning, dialogue, and partnerships that promote transparency, fiscal sustainability, and improved service delivery.

In his remarks, the Head of the Adamawa State Civil Service, Isa Shehu Ardo, mni, emphasised the importance of equipping senior public servants with a clear understanding of the new tax laws. He noted that Permanent Secretaries, as the most senior career officers in the public service, must fully comprehend the reforms in order to guide implementation and avoid difficulties that often arise from poor information and limited awareness.

Delivering the welcome address on behalf of the Office of the Head of Civil Service, the Permanent Secretary, Establishment and Training, Fabian S. Wambai, commended Adamawa Business School for organising the workshop as part of its corporate social responsibility.
Wambai described the new national tax law as a major reform with far-reaching implications for public finance, compliance, and economic stability. He said the workshop provided a valuable opportunity for Permanent Secretaries, as accounting officers and senior administrators, to deepen their understanding of the law and its impact on government operations and engagements with the private sector.

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He urged participants to actively engage in discussions, interact with resource persons, and leverage the knowledge gained to strengthen institutional compliance, improve advisory roles to political leadership, and promote transparent and accountable governance.

The workshop featured sessions led by experienced tax professionals, focusing on the provisions of the new tax reform law, its implications for public financial management, and strategies for effective collaboration between federal and state institutions.

Participants expressed optimism that the training would enhance policy implementation, reduce administrative challenges, and contribute to a more efficient and fiscally informed public service in Adamawa State.

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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

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Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.

The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.

One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”

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Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.

Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.

A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”

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Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.

The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.

The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.

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NEPZA, FCT agree to create world-class FTZ environment

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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.

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