General News
2015 Elections: GEJ Visits OBJ, Begs for Support
President Goodluck Jonathan last night met with former President Olusegun Obasanjo at his Hilltop mansion in Abeokuta, the Ogun State capital, in an attempt to seek the latter’s support for his re-election bid.
Sources said the meeting was also put in place to find a common ground between the two leaders who have been having some disagreements lately.
Former president Obasanjo has in recent times heavily criticised the policies and programmes of the Jonathan-led administration.
Obasanjo blamed the present economic woes facing the nation on the depletion of the Excess Crude Account and the external reserves blaming it on alleged bad leadership of the present government, saying “the country does not deserve the current state it has found itself”.
He said that his administration left $25 billion in the excess crude accounts in 2007 which was shored up to about $35 billion by the Yar’Adua’s administration, while he left $45 billion in external reserve, adding that these funds had been mismanaged by the present administration.
Last night’s meeting, which started at about 9pm, ended shortly before 10pm when those at the meeting drove out of the ex-president’s residence in a convoy of nine cars.
At the meeting, according to unconfirmed sources, were two major Christian leaders – Redeemed Christian Church of God (RCCG) General Overseer Pastor Enoch Adejare Adeboye and Winners Chapel’s Bishop David Oyedepo. Both church leaders could not be reached for comments last night.
It was learnt that the church leaders attended the meeting at Obasanjo’s instance. He, according to sources, insisted when the President proposed the meeting that the religious leaders must witness the discussion.
The former president, it was gathered, said the president did not honour their previous agreements, hence the need for high profile witnesses.
Other leaders of the Peoples Democratic Party (PDP), including National Chairman Adamu Mu’azu and former PDP chairman Senator Ahmadu Ali, were also believed to have attended the meeting.
Attempts by Dr. Jonathan to woo the ex-President, who is his political godfather, included a meeting last month with Obasanjo by some Peoples Democratic Party (PDP) governors, led by Akwa Ibom State Governor Godswill Akpabio.
In that team were Jigawa State Governor Sule Lamido, Cross River State Governor Liyel Imoke and Niger State Governor Babangida Aliyu.
Although neither Jonathan, who passed the night in Abeokuta, to enable him continue his campaign in the Southwest today – in Osogbo and Ado Ekiti – and tomorrow in Akure – nor Chief Obasanjo, was available to speak to anxious reporters after the meeting, sources said Obasanjo planned to use the talk as an avenue to ask the president some salient questions, most of which he had publicly raised, before the religious leaders.
These included the security of the country, the weeding out of his loyalists from their positions in the PDP, the matter concerning the SouthWest organising and mobilisation committee of the party, Mr. Buruji Kashamu, who the former president said he could not accept as his leader, among others.
Addressing the rally in Abeokuta, Jonathan who begged Ogun electorate to give him their mandate the second time, acknowledged the place of the state in the nation. Jonathan fought back, slamming elders who “talk like motor park touts”.
Nigeria’s Buy Now, Pay Later (BNPL) market is on a fast-growing trajectory and is predicted to be valued $2.61 billion by 2030, up 83% from $1.42 billion in 2024, owing primarily to the rapid emergence of fintechs in the country.
This observation was stated in EnterpriseNGR’s State of Enterprise 2025 report, which focuses on how fintechs are reshaping Nigeria’s business landscape through digital innovations, accessible credit systems, and mobile-first financial tools.
As a credit system, BNPL allows users to stagger payments for products and services, making it a key development driver in Nigeria’s developing digital economy.
From 2021 to 2024, the BNPL experienced a compounded annual growth rate of 23.1%. Fintechs have contributed to the rapid growth by providing a range of flexible loan alternatives for e-commerce, retail, and services, bridging financial gaps for millions of disadvantaged Nigerians.
The report highlights how fintechs have contributed to Nigeria’s flexibility and resiliency by simplifying digital payments, automating invoicing and payroll systems, and democratising credit through platforms such as Renmoney and FairMoney.
The report also shows a significant rise in remittance inflows into Nigeria following the Central Bank of Nigeria’s 2024 policy adjustments.
According to the report, by 2024, Nigeria boasted over 400 licensed digital lenders who extend collateral-free credit to those commonly excluded by banks.
The Nigeria Immigration Service (NIS) strengthened bilateral relations with the Netherlands’ government through an agreement targeted at improving migration governance and border security.
This partnership was confirmed during a meeting at the NIS headquarters in Abuja, which was attended by a Dutch team led by Jurgen Bartelink, Chargé D’Affaires of the Embassy of the Netherlands in Nigeria.
The meeting focused on increasing bilateral migration cooperation and came after the comptroller general of Immigration, Kemi Nandap, paid a working visit to the Netherlands.
Under the agreement, the Dutch government pledged to continue supporting technology-driven solutions targeted at boosting Nigeria’s border control systems and improving migration management.
During the Netherlands Embassy diplomats handed over essential operational tools, such as Edison Software licence keys and the Passport Examination Programme Manual App.
According to NIS spokeswoman ACI Akinsola Akinlabi, “The partnership focuses on enhancing bilateral collaboration on migration management and reviewing ongoing capacity-building efforts.”
Bartelink, Chargé d’Affaires of the Netherlands Embassy in Nigeria, underlined the Netherlands’ commitment to helping Nigeria’s continuing border security and migration reforms.
Also speaking, Rob Bokhoven, head of international affairs, repatriation, and deportation services at the Dutch Ministry of Justice and Security, emphasised the country’s strong bilateral relations and announced plans to share a mobile border software solution with the NIS.
Receiving the equipment, Nandap said the delivery of the gadgets would boost West African country’s border security, significantly improve the service’s document verification border management capabilities and support the implementation of Nigeria’s National Migration Policy.
“The engagement will further reinforce the strategic partnership between Nigeria and the Netherlands advancing shared goals in migration governance, border security and international cooperation,” she added.
Peter Enogb, principal country economist, African Development Bank (AfDB), says the rise in global uncertainty, emanating from increases in global trade tariffs, has slowed Nigeria’s projected growth to 3.2% in 2025.
“Without this level of heightened uncertainty, our projections would probably have been somewhat higher. We’ve reduced our projections for Nigeria. We initially were projecting 3.5% – 3.6% growth in 2025.
“But given the current situation, our models are showing that we’re taking a more cautious approach. So that’s why we produced this and, of course, the main driver is uncertainty in the global economy,” Enogb said.
He said this at the launch of the 2025 Nigeria Country Focus Report (CFR) on Thursday.
AFDB projected that real GDP growth would hit 3.1% in 2026. Following the 2024 consumer price index (CPI) rebasing, with lower weights for food items, the inflation rate is expected to reduce over the medium term to 24.7% in 2025 and 17.3% in 2026.
As imports start to rise over the medium term, the current account is projected to decline to 3.9% of GDP in 2026.
The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation slowed for the second consecutive month to 22.97% in May. This is down from 24.48% at the start of the year
This is contrary to the World Bank projection that Nigeria’s economy would record steady growth of 3.6% despite the shift in the global trade dynamics.
Joseph Ogebe, head of research and development at Nigerian Economic Summit Group (NESG), also said that global uncertainty had been very high in recent times, resulting from the Trump 2.0 effect.
“And also with the recent war between Israel and the international community, we’ve seen what’s happening to oil prices. Even with the call-off of the war, we’ve seen the effect on oil prices too, which has implications on the fiscal side. So it has implications for the general economy,” he said.
The head of research at NESG said that rather than focusing on just growth, what should be looked at is a strategy called growth with depth.
“Growth with depth means that your growth must be diversified, export-led, productive, and technologically driven,” he said.
Ogebe said that if the Government works towards adopting a strategy of growth with depth, there is a tendency for the government to move towards its goal of achieving a $1 trillion economy by 2030.
The report revealed that the country’s recent policy moves, including fuel subsidy removal, exchange rate unification, and tax reforms, reflect a commitment to long-term transformation.
However, it also pointed out that at about 13%, Nigeria’s tax-to-GDP ratio is among the lowest in West Africa, noting that fiscal reforms are urgent.
INTERPOL Report Shows Cybercrime is West, East African Most Dominant Security Concern
Nigeria’s BNPL Market is Projected to Value @ $2.6B by 2030
NIA Puts Industry Written Premium @ N1.5trn in 2024
V-Malaysia 2025: QNET Strengthens Global Network with Landmark 5-Day Event
Instagram Safety Tools Every Parent Should Know About
E-Business3 days agoAfCFTA Positions Africa to Tap into $712bn Digital Trade Market by 2035
E-Financial3 days agoFidelity Bank Clears the Air: MD Not Linked to Woobs Case
General News3 days agoSEC Advocates for Advanced Financial Inclusion by 2030
E-Business3 days agoNFIU Credits AML/CFT Reforms behind Nigeria’s Nears Exit from FATF Greylist
General News2 days agoAfDB Cuts Nigeria’s Growth Projection to 3.2%
E-Financial2 days agoFlutterwave Named in 2025 TIME100 Most Influential Companies List
Broadcasting3 days agoMultiChoice Nigeria Slashes Decoder Price by 50 Percent, Offers Free Upgrades
E-Financial3 days agoKeystone Bank, Enterprise Devt Centre Sign MoU To Empower SMEs ln Nigeria