Eyo Festival returns to Lagos after long break as Sanwo-Olu promises safe celebration

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December 23, 2025

Photo Credit: The Nation
2025-12-21 08:00:00

In a note published by The Nation, Lagos State Governor Babajide Sanwo-Olu says the Eyo Festival will return on December 27 at Tafawa Balewa Square, promising a safe and memorable celebration after years of hiatus.

The governor presented the event as both cultural heritage and tourism opportunity, signalling plans to showcase Lagos to local and international visitors while prioritising security and crowd management.

The renewed focus also fits into Lagos branding: major festivals are increasingly treated as economic infrastructure that boosts hospitality, transport activity, and international perception.

Nigeria Info quoted Sanwo-Olu saying, “The Eyo Festival will be a day of joy and pride, showcasing our rich traditions,” while Arise TV reported assurances of a peaceful season, highlighting hopes for “peace, harmony, and safety” during the festivities.

Echotitbits take: Eyo’s return is culture plus commerce, but security optics will matter. Watch traffic plans, crowd-control execution, and whether Lagos uses the festival to deepen tourism partnerships rather than treat it as a one-off spectacle.

Source: The Nation — December 21, 2025 (https://thenationonlineng.net/eight-years-after-eyo-festival-will-be-memorable-says-sanwo-olu/)

The Nation 2025-12-21

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Lagos police bust alleged ‘fake kidnap’ plot targeting diaspora husband for ₦2.5m

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Nation
2025-12-21 08:00:00

In a development reported by The Nation, Lagos police say they arrested a 26-year-old housewife and an accomplice over an allegedly staged kidnapping scheme used to obtain ₦2.5m from her husband living abroad.

Police say the incident triggered an emergency response before inconsistencies emerged, after which investigators traced the alleged plot and moved to recover evidence and statements.

The case highlights how diaspora families can be vulnerable to panic-driven extortion—distance and limited verification channels can accelerate payments before facts are checked.

Vanguard reported the suspect was arrested “for allegedly staging her own kidnapping and extorting N2.5 million,” while Premium Times wrote she claimed she was abducted by “six armed men in a silver Toyota Venza” before police unravelled the story.

Echotitbits take: Expect more ‘crisis-for-cash’ scams in a harsh economy. Diaspora households should build a verification protocol—call-back chains, trusted local contacts, and police confirmation—before sending money. Watch for more preventive guidance from the Lagos command.

Source: The Nation — December 21, 2025 (https://thenationonlineng.net/woman-fakes-own-kidnap-collects-n2-5m-from-diaspora-husband/)

The Nation 2025-12-21

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Geo-Fluids proposes ₦25bn capital expansion to chase bigger energy and mining deals

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Punch
2025-12-22 08:00:00

In a report carried by Punch, Geo-Fluids Plc says it plans to raise its share capital to ₦25bn and expand into hydrocarbons, mining, and other natural-resource opportunities, subject to shareholder approval.

The company’s notice indicates the move is meant to broaden business lines and position for larger projects, with shareholders expected to vote at an AGM in Abuja.

If executed, it reflects a wider trend among Nigerian firms—raising capital and revising corporate objects to pursue scale across energy and extractives value chains.

Financial Edge reported the firm is “set to raise up to N22.87 billion in fresh capital” through options including placements and rights issues, while another market report noted it would “significantly increase its share capital” pending shareholder approval.

Echotitbits take: For investors, execution matters more than headlines: project pipeline, governance, and dilution terms. Watch the AGM resolutions, regulatory filings, and whether a clear use-of-proceeds roadmap links new capital to cash-generating contracts.

Source: The Punch — December 22, 2025 (https://punchng.com/geo-fluids-proposes-n25bn-capital-raise-hydrocarbon-expansion/)

The Punch 2025-12-22

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Port access controversy returns as truckers slam Eto call-up as ‘e-extortion’

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B.O.B Echoload

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December 23, 2025

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Photo Credit: Vanguard
2025-12-22 08:00:00

According to Vanguard, Lagos port stakeholders have criticised the reintroduced electronic call-up system (Eto), describing the experience as ‘e-extortion’ and calling for reforms to how access is managed.

Industry groups argue that instead of easing congestion, the system’s enforcement and gatekeeping can add cost layers that ultimately show up in haulage charges and consumer prices.

The dispute underscores Nigeria’s logistics bottleneck: the ports struggle to stay competitive when truck access, queue discipline, and pricing transparency remain contested.

The Sun quoted the NPA’s view that “Today, the E-Call Up System has evolved into a transformative digital logistics tool,” while an industry report claimed the system “cuts haulage costs by 65%” in some settings—showing how sharply user and operator narratives diverge.

Echotitbits take: Digitisation can work, but only if incentives align and corruption channels are blocked. Watch for independent audits of Eto billing/penalties, transparent service targets, and whether regulators compel enforceable reforms instead of ad-hoc fixes.

Source: Vanguard — December 22, 2025 (https://www.vanguardngr.com/2025/12/lagos-ports-stakeholders-decry-mandatory-e-call-up-system/)

Vanguard 2025-12-22

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Nigeria’s exports to the US slide sharply as tariff pressure bites trade balance

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Punch
2025-12-22 08:00:00

From a Punch report, Nigeria’s exports to the United States reportedly dropped by about ₦940.98bn in the first nine months of 2025, pointing to a shift that weakened Nigeria’s prior trade advantage.

The report links the downturn to tariff pressure and softer market conditions, suggesting Nigerian exporters faced tougher routes into the US market while imports from the US rose over the same period.

The implication goes beyond trade figures: reduced exports can weaken FX inflows and expose how external policy changes quickly reshape Nigeria’s balance-of-payments outlook.

Leadership reported exports “fell sharply by N940.98 billion in the first nine months of 2025,” while Nairametrics said exports to the US dropped “by N940.98 billion” over the same period, citing trade statistics.

Echotitbits take: This is a diversification alarm. Nigeria cannot rely on a narrow set of markets and products when external policy winds change. Watch for new trade corridors, targeted export incentives, and whether AfCFTA-linked value chains can offset losses in premium markets.

Source: The Punch — December 22, 2025 (https://punchng.com/nigeria-suffers-nearly-n1tn-export-loss-after-trump-tariff/)

The Punch 2025-12-22

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Police arrest inspector in Niger over alleged arms supply chain to bandits

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Nation
2025-12-21 08:00:00

Figures cited by The Nation indicate police investigators in Niger State have arrested an inspector linked to alleged diversion of arms and ammunition to bandits, following an audit trail involving missing rifles.

Investigators say the alleged pipeline involved intermediaries in bandit-affected communities, raising renewed questions about armoury controls, supervision, and the integrity of internal audits.

The case adds to public anxiety that weapons meant for security operations can end up strengthening criminal groups and undermining counter-bandit campaigns.

Tribune Online reported that “Moses allegedly confessed that the late DSP supplied him with arms and ammunition,” while The Guardian cited police confirmation of the probe, noting the incident was confirmed by the command spokesman.

Echotitbits take: This is a credibility test for security institutions. The public will watch whether this becomes a full accountability case—clear charges, transparent trial, and deterrent sentencing—or another headline that fades. Watch for forensic armoury audits and prosecutions that go beyond middlemen.

Source: The Nation — December 21, 2025 (https://thenationonlineng.net/police-inspector-arrested-for-supplying-arms-to-bandits-in-niger/)

The Nation 2025-12-21

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TCN counts 131 vandalism attacks in 2025, warns of deeper grid disruptions

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Punch
2025-12-22 08:00:00

In an update published by Punch, the Transmission Company of Nigeria (TCN) says it recorded 131 vandalism incidents in 2025, warning that repeated attacks on transmission assets continue to disrupt supply and raise repair costs.

TCN says theft and sabotage of critical components—such as towers and conductors—can trigger forced outages and bottlenecks, especially on corridors feeding major demand centres.

The company notes that while expansion and upgrade projects are ongoing, infrastructure security has become a major power-sector constraint requiring stronger policy and policing coordination.

Premium Times reported TCN recorded “a total of 131 vandalism incidents” in 2025, while ThisDay quoted TCN’s progress review noting, “A highlight of our progress came on March 4, 2025…” as it listed major transmission milestones despite attacks.

Echotitbits take: Vandalism is an ‘invisible tariff’—it adds costs that eventually show up in outages and higher bills. Watch for targeted prosecutions, community right-of-way protection models, and tighter coordination between TCN, DisCos, and security agencies.

Source: The Punch — December 22, 2025 (https://punchng.com/tcn-records-131-vandalism-cases-in-2025/)

The Punch 2025-12-22

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Pension safety valve: job-loss withdrawals hit ₦8.43bn in three months, PenCom says

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B.O.B Echoload

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December 23, 2025

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Photo Credit: The Punch
2025-12-22 08:00:00

In PenCom’s Q3 2025 report, the Commission says 8,172 RSA holders were approved to access 25% of their balances due to temporary job loss, with total approved disbursements of ₦8.43bn.

PenCom notes the provision is meant for contributors who have been unable to secure another job for at least four months after exiting employment, offering short-term relief rather than replacing income.

The data also shows approvals were dominated by the private sector, reflecting higher turnover and displacement pressures across formal jobs.

Punch cited the Q3 report’s totals, while PenCom’s own report states: “The total amount approved for disbursement during the quarter stood at ₦8.43 billion,” underscoring how labour-market stress is increasingly visible inside pension statistics.

Echotitbits take: This is a quiet labour-market indicator. Rising RSA job-loss withdrawals point to strain in formal employment and weaker household buffers. Watch whether inflation and restructuring keep driving exits and whether pension continuity worsens as workers drift into informal self-employment.

Source: The Punch — December 22, 2025 (https://punchng.com/job-losses-trigger-n8-43bn-pension-withdrawals-in-three-months/)

The Punch 2025-12-22

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FG’s 2026 plan pegs lower crude-oil revenue as fiscal pressure persists

By

B.O.B Echoload

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December 23, 2025

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Photo Credit: The Punch
2025-12-22 08:00:00

Reporting by Punch indicates the Federal Government is projecting a smaller crude-oil revenue figure for 2026, putting expected receipts from crude sales at about ₦60.97 trillion—below the 2025 projection.

The estimate is tied to planning assumptions in the MTEF, including an oil benchmark price around $64.85 per barrel, daily output near 1.84 million barrels, and an exchange-rate assumption around ₦1,400/$.

The signal is that tighter oil expectations will increase pressure to grow non-oil revenues, control leakages, and keep spending plans realistic as macro risks remain elevated.

Reuters similarly summarised the plan as one that “assumes a crude oil price of $64.85 per barrel” and output around 1.84 million bpd, while TheCable reported lawmakers endorsed the “projected crude oil benchmark prices of $64.85 per barrel” for planning.

Echotitbits take: Nigeria’s budget risk remains production, not just price. If output falls short, even supportive pricing won’t protect revenues. Watch for upstream security actions, investment-friendly reforms, and a stronger non-oil collection push.

Source: The Punch — December 22, 2025 (https://punchng.com/fg-projects-lower-n60-97tn-oil-revenue-for-2026/)

The Punch 2025-12-22

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CISLAC demands full disclosure as tax-law ‘swap’ allegations spread

By

B.O.B Echoload

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December 23, 2025

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Photo Credit: The Nation
2025-12-21 08:00:00

According to The Nation, the Civil Society Legislative Advocacy Centre (CISLAC) has called for urgent transparency after claims that portions of recently assented tax legislation may not match what lawmakers passed.

CISLAC argues that any mismatch between the National Assembly’s final text and the version signed into law would weaken public confidence, especially for tax provisions that directly shape compliance for businesses and households.

The group is urging authorities to publish the exact assented copy and clarify how the final document moved from passage to assent, while encouraging lawmakers to treat the allegation as a governance issue rather than a partisan fight.

Separately, Premium Times reported civil society calls for the government to “urgently publish the exact version of the tax law assented to,” while TheCable quoted a lawmaker warning that “This is a breach of the constitution… It is a very serious issue.”

Echotitbits take: If the ‘passed vs signed’ versions truly differ, it becomes a process failure with real economic costs—compliance confusion, possible court challenges, and weaker investor trust. Watch for publication of the signed copy, any committee hearings, and whether a corrective technical-amendment bill is introduced.

Source: The Nation — December 21, 2025 (https://thenationonlineng.net/cislac-demands-transparency-over-tax-law-controversy/)

The Nation 2025-12-21

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