FirstBank to host economic outlook event for 2026

FirstBank

In a statement, the bank announced that the Nigeria Economic Outlook 2026 will take place on Tuesday under the theme “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth.”

The PUNCH reports that the event is an annual customer-facing session designed to provide insights into prevailing economic realities and help customers navigate the economy at the start of the year.

Commenting ahead of the event, the Acting Group Head, Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, said the initiative would help customers make informed decisions based on expert insights.

The session will feature a lineup of economic analysts and industry leaders, with the keynote address to be delivered by the Group Chief Economist and Managing Director, Research and Trade Intelligence, Afreximbank, Yemi Kale.

The bank reaffirmed its commitment to supporting Nigerians in achieving their financial aspirations and driving growth across the economy.

Fubara our leader in Rivers – APC Nat’l Chairman gives condition to support gov’s second term

The All Progressives Congress, APC, National Chairman, Nentawe Yilwatda, has declared Governor Sim Fubara as the leader of the party in Rivers State.

This comes amid the renewed hostilities between Fubara and the Minister of the Federal Capital Territory, FCT, Nyesom Wike over leadership postion in the state.

Following his defection to the APC, Fubara had declared himself as the 001 of APC in the state.

But, Wike had dismissed the governor’s stance, stressing that he controls the political structure in the state, since APC and the Peoples Democratic Party have teamed up to support President Bola Tinubu in 2027.

Reacting, the APC National Chairman, however, said he would support Fubara for a second term if he wins the party’s primaries.

In an interview on Channels Television’s Hard Copy, Yilwatda said: “Governor Fubara is the leader of the APC in Rivers State, but he would need to coordinate with every other person in the state.

“I don’t choose who to support in the state’s primary election. If Fubara emerges as the APC candidate, I’ll support him.

“If he loses the primary, I’ll sympathise with him and go with the person who wins the primary election.”

Tinubu: Secondus, Omehia, Sekibo, others couldn’t give Atiku 10% votes – Wike mocks Fubara

Minister of the Federal Capital Territory, FCT, Nyesom Wike, has reacted to comment by Governor Sim Fubara of Rivers State that some supporters of former Vice President Atiku Abubakar are now backing President Bola Tinubu.

Speaking at a new year banquet on Thursday in Port Harcourt, Fubara said Prince Uche Secondus, Rt. Hon. Austin Opara, Alabo Abiye Sekibo, and former Governor, Sir Celestine Omehia are now supporting him and Tinubu.

Reacting, Wike said these men failed to give Atiku 10 percent votes during the 2023 presidential election.

Speaking in Ogba/Egbema/Ndoni (ONELGA) Local Government Area of Rivers yesterday, Wike assured Tinubu of the required support to win the 2027 presidential election.

He said: “I heard somebody (Fubara) say, ‘Oh, those who want Atiku are back.’ they couldn’t give Atiku 10% in 2023, so what is the political advantage?

“I won’t call their names but you all know them, we will do all we can to see that we give Tinubu the total support that is required.”

He also lambasted the Ohanaeze President-General, John Mbata for referring to him as a semi-illiterate.

Wike said: “Ordinarily, I won’t have bothered myself but I will say it. Somebody who was a former senator said the FCT Minister is a semi-illiterate but the same person dropped out from Rivers State University when he was reading law, he could not make it.

“I meant to University of Port Harcourt, finished, went to the same university he dropped out and went to the law school, today, I’m life bencher.

“The semi-illiterate has the fourth highest national award in Nigeria.”

Nigerians will have constant, reliable power supply in 2026 – Minister

The Minister of Power, Mr Adebayo Adelabu, has assured Nigerians that the Federal Government’s priority in 2026 is reliable, accessible and sustainable electricity supply.

The assurance is contained in a statement issued on Friday in Abuja by his Special Adviser on Strategic Communications and Media Relations, Mr Bolaji Tunji.

Tunji said Adelabu gave the assurance in his New Year message to Nigerians and the people of Oyo State.

“Looking ahead, our focus remains unshakable: to deliver reliable, accessible and sustainable electricity to power our homes, industries and dreams,” Adelabu said.

He said the path forward would be driven by continuity and renewed vigour, with efforts to enhance grid stability and expand transmission infrastructure.

Adelabu said collaboration with Electricity Distribution Companies would be intensified to improve service delivery and ensure metering initiatives reach every community.

“Our Light Up Nigeria initiative remains a priority, focusing on industrial clusters and agricultural hubs to stimulate economic growth and job creation,” he said.

The minister said renewable energy development would also be prioritised, with solar and hydropower deployed to serve underserved communities.

He described 2025 as a year of focused groundwork and deliberate strides in the power sector, despite prevailing challenges.

According to him, progress was recorded in strengthening the national grid and improving overall stability during the year.

Adelabu said the Presidential Power Initiative, known as the Siemens deal, had helped curb frequent grid collapses experienced in previous years.

“As Phase One of the PPI continues, we assure Nigerians of a strengthened grid that will make disturbances a thing of the past,” he said.

The minister thanked Nigerians for their resilience, saying their support remained critical to building a robust energy future.

“The journey ahead requires a united front,” Adelabu said, calling on governments, communities, the private sector and citizens to partner in reforms.

He urged Nigerians to protect power infrastructure and adopt energy-efficient practices, describing them as vital national contributions.

Extending greetings to Oyo State residents, Adelabu said the new year would usher in measurable progress in the power sector.

“To my kinsmen and women in Oyo State, your unwavering support continues to fuel my dedication at the national level,” he said.

Rivers: Governor Fubara’s EXCO approves N1.85trn 2026 budget proposal

Rivers State Executive Council on Friday approved N1.854 trillion budget proposal for the 2026 fiscal year.

The budget, which was tagged the “Budget of Resilience for Growth and Development” was given approval after a thorough deliberation at the EXCO meeting.

The meeting, which marked the first in 2026, was presided by the state governor, Siminalayi Fubara with his deputy, Prof. Ngozi Odu and others in attendance.

Speaking to journalists at the end of the meeting, Fubara’s Special Adviser on Economic Matters and Social Development, Prof Peter Medee said the council approved N1,854,248,734,475.76 for the provision of goods and services in the state in 2026.

Medee explained that the proposed estimate was designed in such a way that it would reflect the development priorities of the Fubara’s administration.

He noted that the budget is also expected to address some other critical obligations of the state.

Osun: Police warn against plans to disrupt council resumption

The Osun State Police Command has warned against an alleged plan by some individuals to disrupt the smooth resumption of duties by local government employees under the aegis of the National Union of Local Government Employees, NULGE, across the state.

The warning was contained in a public service announcement issued by the command following credible intelligence reports on Friday.

According to the statement, which was signed by the Commissioner of Police, CP Ibrahim Gotan and issued by ASP Giwa-Alade Emmanuel, Deputy Police Public Relations Officer, “the alleged plan targets council secretariats in the 30 local government areas, Ife East Area Office, Modakeke, as well as local council development areas.”

The Commissioner of Police, CP Ibrahim Gotan, cautioned that “any individual who is not a bona fide staff member of the local government authorities must refrain from approaching or loitering around the secretariats.”

He stated that police personnel had been “directed to act decisively against anyone found attempting to incite unrest or disrupt public order at council premises.

“Such malicious plans will not be tolerated and will be met with resolute and decisive action by the Command to maintain law and order.”

CP Gotan added that it would not allow any group to undermine the prevailing peace and tranquillity maintained across Osun State.

CP Gotan reassured residents of the Command’s commitment to the protection of lives and property, noting that officers would continue to carry out their constitutional duties with vigilance and professionalism.

He urged members of the public to remain law-abiding and vigilant, and to cooperate with security agencies by promptly reporting suspicious activities.

Residents were also advised to “contact the Police Control Room on 08039537995 or 08123823981, the Complaint Response Unit on 08035143235, 08066286549 or 08030732461, or through the Command’s official social media platforms for assistance.”

DAILY POST had reported that NULGE in a statement on Monday announced that its members across the state would resume back to work on Monday, January 5, 2026 after an eleven month strike.

The decision to go back to work was coming after NULGE Osun State chapter declared a strike in February, 2025 after elected officials of both the All Progressives Congress, APC, and the Peoples Democratic Party, PDP, violently clashed over control of the local government secretariats in the state.

The violent clashes repeatedly led to the loss of lives in opposing camps prominent among whom is Remi Abass, an APC stalwart in Ikire, Irewole local government council area of the state.

Taraba NUT clears air on alleged withdrawal of support for Gov Kefas over salary

The Taraba state chapter of the Nigeria Union of Teachers, NUT, has distanced itself from reports alleging that it issued a warning to the state governor Agbu Kefas  over the non payment of four months’ salary arrears.

The union further cleared that it did not mandate anyone to threaten withdrawal of support for the governor ahead of 2027 over the said arrears.

In a statement signed by its Chairman, Nathan Solomon, and made available to journalists in the state on Friday, the union said it did not authorize any individual or group to issue such warnings or speak on its behalf on the matter.

The union stressed that it remains committed to the welfare of its members and engages relevant authorities strictly through due process.

Solomon also dismissed claims circulating on social media that the union threatened that Governor Agbu Kefas could lose his position or the political support of thousands of teachers ahead of the 2027 general elections.

“The claims did not emanate from the NUT and should be ignored by the public,” the statement read.

Afrinvest renames Optimus, targets broader digital investors

AfrinvestInvestment management firm Afrinvest has announced the rebranding of its digital investment platform, Optimus by Afrinvest, to PlutusNeo by Afrinvest.

In a statement on Friday, the rebranding was described as the next phase of the firm’s digital strategy, focused on expanding access to wealth creation.

The digital platform, first launched in 2022, was created to give individuals secure and easy access to Afrinvest-managed investment products through a modern digital interface. Since its launch, it has become a trusted channel for Nigerians seeking professionally managed investment solutions, supported by Afrinvest’s over 30 years of experience across Nigeria’s capital markets.

Speaking on the rebrand, the Managing Director of PlutusNeo by Afrinvest, Ayodeji Ebo, said the change positions the platform for long-term growth.

“Optimus represented an important phase in our digital investment journey. PlutusNeo builds on that progress, evolving the platform into one designed to support long-term wealth creation for a broader audience. It also reflects our vision to develop a more connected digital ecosystem over time,” he said.

According to the Group Managing Director of Afrinvest, Ike Chioke, the platform reflects the firm’s long-standing commitment to inclusive wealth creation.

“For over 30 years, Afrinvest has operated through multiple market cycles, and that experience shapes how we approach investing,” he said. “We understand the importance of discipline and long-term thinking in wealth creation. PlutusNeo extends this approach to a wider audience, allowing more people to participate meaningfully in building wealth, regardless of income level or status.”

NAMA assures safe flights amid harmattan haze

Nigerian Airspace Management Agency – NAMA

The Nigerian Airspace Management Agency has reassured air travellers that Nigeria’s airspace and airport landing facilities remain safe and fully operational during the current haze associated with the harmattan season.

In a Friday statement signed by the spokesperson of the agency, Dr Abdullahi Musa, the agency addressed public concerns over flight operations amid reduced visibility during the Harmattan.

Usually, harmattan rents the atmosphere in Nigeria from December till sometime in February. NAMA dismissed insinuations that navigational facilities at Nigerian airports are poorly maintained or unfit for operations during the haze period, describing such claims as misleading and not supported by technical facts.

According to the agency, all navigational aids at Federal Government airports are routinely maintained, flight-checked, and calibrated in strict compliance with the International Civil Aviation Organization Standards and Recommended Practices, as well as the Nigerian Civil Aviation Regulations.

Speaking on the matter, the NAMA spokesperson added that the maintenance and calibration of critical air navigation infrastructure are mandatory safety requirements.

He said, “These processes are not optional. They are compulsory safety procedures carried out using NAMA’s dedicated flight inspection and calibration aircraft, operated by highly trained technical and flight inspection personnel.”

He explained that key systems such as Instrument Landing Systems, VHF Omnidirectional Range, Distance Measuring Equipment, and other Communication, Navigation, Surveillance/Air Traffic Management facilities undergo periodic ground and airborne verification to ensure accuracy, signal integrity, and operational reliability.

He added that all calibration and maintenance activities are conducted under continuous regulatory oversight by the Nigerian Civil Aviation Authority. “The NCAA audits our compliance, validates calibration cycles, and enforces corrective actions where required, ensuring that safety standards are consistently upheld,” he said.

He cited AIP Supplement S81/2025, dated 9 October 2025, which documented the calibration and serviceability status of all NAVAIDs in Nigeria.

“At the time of that publication, only the ILS facilities at Maiduguri, Ilorin, Owerri, Zaria, Minna, and Calabar were approaching their due calibration dates, while all other systems nationwide were within valid inspection periods,” Musa stated.

He revealed that NAMA conducted a nationwide round of flight calibration exercises in December 2025, restoring serviceability timelines at several airports, with another round scheduled early in the new year for Katsina, Jos, Ilorin, Yola, and Owerri airports.

Addressing public debate over the absence of CAT III Instrument Landing Systems at all airports, Musa clarified that such systems are not a universal requirement for safe operations during haze conditions.

“The deployment of ILS CAT I, CAT II, or CAT III is based on operational needs, traffic volume, aircraft capability, and long-term meteorological data, not on public perception.

“NAMA has therefore designed and published instrument approach procedures aligned with ILS CAT II minima, which adequately support safe aircraft operations during the most challenging seasonal conditions typically experienced in Nigeria,” Musa explained.

He emphasised that the absence of widespread CAT III systems does not indicate compromised safety, stressing that aviation safety depends on the appropriateness and reliability of systems in use.

Musa further noted that delays, diversions, or cancellations during the haze period are largely influenced by weather conditions, airline operational decisions, and aircraft capability rather than failures of navigational aids.

He added that NAMA works closely with the Nigerian Meteorological Agency to ensure the continuous dissemination of accurate weather information and provide real-time air traffic management support throughout the haze period.

“While haze conditions present operational challenges, they do not imply infrastructural failure or reduced safety standards. Our priority remains the safety, security, and efficiency of air travel in Nigeria,” he said.

Insurance firms project N10.59bn combined Q1 profit

Nigerian-Insurance-firms-e1721202317384-750×375Nigerian insurers are projected to record a combined Profit After Tax of N10.59bn for the first quarter of 2026, according to company filings with the Nigerian Exchange Group.

The forecast reflects strong contributions from major players, including AIICO Insurance Plc, Regency Alliance Insurance Plc, AXA Mansard Insurance Plc, and International Energy Insurance Plc.

AIICO Insurance Plc leads the sector with a projected PAT of N5.06bn, driven by an insurance service result of N3.26bn and net investment income of N20.85bn. Its cash flow outlook shows a net increase in cash and cash equivalents of N4.87bn, bringing closing cash balances to N24.08bn.

Regency Alliance Insurance Plc is expected to deliver a profit after tax of N1.06bn, supported by insurance revenue of N3.75bn and investment income of N420.27m. The company forecasts a net cash increase of N238.63m, ending the quarter with N1.52bn in cash and bank balances.

AXA Mansard Insurance Plc projects a PAT of N3.60bn, with insurance revenue of N47.18bn and net investment and other income of N5.42bn. Despite investment outflows of N7.02bn, the company maintains a strong cash position of N9.20bn at the quarter-end.

International Energy Insurance Plc forecasts a profit after tax of N868.48m, based on gross written premiums of N3.76bn and an insurance service result of N2.71bn.