Connect with us

news

Assassins kill Lagos socialite, Rasak Jikoji, month after chieftaincy case victory

Published

on

A Lagos-based socialite and contender for the Badore chieftaincy stool, Chief Rasak Jikoji, has been assassinated.

Our reporter gathered that Rasaki had a month ago celebrated a court ruling in his favour on the chieftaincy stool.

He was said to be with his personal assistant on Sunday, April 25, 2021, when he was attacked and shot dead.

Our correspondent gathered that the assailants also smashed his skull open with a big stone.

The 60-year-old was rushed to the Lagos Island General Hospital, where he was pronounced dead, and the matter was reported at the Langbasa Police Station.

The victim’s aide, who spoke on condition of anonymity for security reasons, said the attack happened around 3pm at the deceased’s house on Jikoji Court, Unity Estate, Badore.

He stated that the late socialite had invited him the previous day, adding that on getting to the house, he observed that Rasak was having a meeting with some persons.

The aide said Rasak later led his guests to a piece of land in the community.

The aide stated, “He joined them in their car, while I drove his car behind them. About 15 minutes later, he came down from their car and entered his car. He said we should return home.

“As we were approaching the gate, he wound up the glass. I was about to park when I saw two men coming towards the passenger’s side. One of them covered his face and the other had a gun.

“I believe I heard one of them say, ‘It is you that wants to become Baale’. They tried to shoot twice, but the gun did not go off. They came in front of the car and tried to shoot again.

“I put the car in reverse and tried to speed off. The road was not good and in our attempt to flee, the car ran into a ditch. Chief asked me to run out. I opened the door before they got to us. As we were running, they caught up with him.

“The second guy, who was chasing me, later went back. I looked behind and saw that chief had already engaged the other man who had the pistol. I believe that the gun fell at a point. But the guy, who went back, picked a stone and smashed it on his head. The other guy picked up the pistol and shot him.”

The aide said the suspects later escaped in a tricycle that he had earlier noticed on the premises without suspecting anything.

He added that upon his return to the scene, he saw Rasak in a pool of his own blood and raised the alarm, as his wife and other residents rushed him to the general hospital, where he was pronounced dead.

The victim’s wife, Tofunmi, claimed that Rasak wrote a petition to the police at the Zone 2 Command over some suspicious movements around him prior to the incident.

While urging the police to get to the root of the murder, she said her husband had several enemies, who might want him dead.

She stated, “Some people came to visit us because they wanted to buy a piece of land and he took them to the site. They did not like the land. About 15 to 20 minutes later, my husband was returning home.

 

“Some people said they sighted strange faces around the vicinity. As he was coming, he was attacked. They shot him and used a rock to break his head to be sure that he died. I was in the kitchen when I was called, and I ran out and saw his dead body in the middle of the road. We need justice.”

A family member, who asked not to be identified, said Rasak was involved in a struggle for the chieftaincy stool of Badore.

Our correspondent learnt  that the former occupant of the stool, Saliu Muraino Jikoji, died in June 2020 and the family nominated Rasak as his successor.

However, some community elders reportedly backed another candidate, whose name was forwarded to the local government secretariat.

The dispute was later taken to court.

Justice Idowu Alakija of the Lagos State High Court in March ordered that the parties should maintain the status quo, a ruling that the deceased celebrated as part victory.

The substantive suit was adjourned till May.

Our correspondent was told that the deceased’s five children were based abroad.

His lawyer, Olanrewaju Aiyedun, described the killing as “callous, criminal, satanic and vile.

Aiyedun stated, “I have absolute trust and unflagging confidence in the professional competence and impervious integrity of the police to unmask the murderers and bring the marauding and cannibalistic agents of untimely death to justice.

“The assailants riled and taunted him that he wanted to become baale before they snuffed life out of him. So, those who paid for his murder are not far-fetched.

“He was shot at a very close range and they smashed his head with a heavy stone just to ensure that he was dead and to satisfy their paymasters. They have murdered sleep and they will not also sleep.”

The state Commissioner of Police, Hakeem Odumosu, who confirmed the incident, said the case had been transferred to the State Criminal Investigation and Intelligence Department, Panti, Yaba.

He stated, “The two persons, who assassinated him, were in a tricycle. They accosted him while in the vehicle and fired him in the chest with what appeared to be an English pistol. He ran out, but they went after him and used a stone to break his head to ensure he died.

“The driver said before they killed him, they said, ‘So, you want to be baale, it is only someone who is alive that can become baale’. It was not a case of robbery. He was a direct target. We are working round the clock and closing in on his killers.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

news

Update :FG Unveils Additional 10 Steps to Reduce Impact of Rising Fuel Prices

Published

on

Ok

The Federal Government has announced ten new measures to reduce the pain Nigerians feel from high fuel prices. It insists, however, that none of them brings back the old fuel subsidy for everyone.

The measures were presented by the Federal Ministry of Finance at a press briefing on Thursday, 8 October 2026, titled “Fuel Prices and the Subsidy Question.” The government admitted its earlier steps fell short. According to the presentation, “These measures do not fully relieve the pressure households feel today, so the government is going further.”

The government described the new package as “Help that is targeted, temporary and affordable.” In plain terms, the help is meant for those who need it most, will not last forever, and is designed so that the country can pay for it.

Cheaper petrol and more cash support

The first measure is a discount on petrol sold at NNPC filling stations. The discount will last for the next 30 days, and public transporters, such as commercial bus and taxi operators, will get priority. The government hopes this will help keep transport fares from rising further.

The government also plans to increase cash transfers to vulnerable households. Small businesses will get cheaper loans, known as subsidised credit, to help them cope with higher running costs.

Steps to keep pump prices steady

To protect Nigerians from sudden jumps in world oil prices, the government will sell crude oil in advance to local refineries. This is expected as oil production rises and crude previously committed to other purposes becomes available. The presentation says this will shield “pump prices from global swings.” ShopAfrican Art

The government will also introduce what it calls price modulation. Under this plan, a negotiated limit of ₦1,350 per litre will apply to the ex-gantry price (the price at the depot) or the landing cost (the cost of bringing the fuel into the country). The limit will be reviewed every month, so it can change as conditions change.

A National Strategic Fuel Reserve will also be set up. Fuel from the reserve will be released “under published rules when disruption or hoarding threatens supply.” This means the government can step in when fuel becomes scarce or when marketers hold back products to push up prices.

Lowering the cost of transport and doing business

The government says part of what Nigerians pay for transport comes from illegal charges on the roads. It will work with state governments under the 2025 tax laws to rein in road taxes that push up fares.

It will also speed up the rollout of compressed natural gas (CNG) as a cheaper alternative to petrol, again working with the states. Transporters who benefit from cheaper fuel are expected to “pass savings on in lower fares” to passengers.

Other steps target the cost of goods and services more broadly. The government will cut regulatory costs, described as red tape, that “feed into the price of goods and services.” It will also ease traffic in cities to save fuel, and it will use NIPOST address codes to reduce the cost of moving goods from one place to another.

One measure has not yet been decided. The government is considering an excess profit tax on operators it says exploit consumers. If it goes ahead, the money raised will fund transport support and vouchers for low-income earners.

No return to blanket subsidy

The ministry ended the presentation with a clear message, “None of these measures restores a blanket subsidy.” The government is therefore not returning to the old system, where fuel was sold cheaply to everyone. It says its new approach will reach “the people who need help without putting the wider economy at risk.”

The announcement comes as many households as possible, and businesses struggle with the high cost of transport, food, and other goods linked to fuel prices. How much relief Nigerians feel will depend on how quickly and effectively these measures are carried out, and whether transporters and marketers pass the benefits on to consumers.

Continue Reading

news

Nigeria Emerges as Africa’s Biggest Climber in Investment Risk Ranking on Back of Tinubu’s Economic Reforms

Published

on

Nigeria has emerged as the biggest climber in Africa’s latest investment risk ranking, rising four places to eighth position as economic reforms implemented by President Bola Tinubu improved the country’s relative attractiveness to investors, a new report by Bloomberg has stated.

Nigeria overtook Rwanda, Tanzania, Kenya and Namibia in the 2026 Bloomberg Economics Investment Risk-O-Meter, which assesses the relative investability of 19 African economies.

Bloomberg, in the report released on Monday, said Nigeria’s improvement was driven by stronger performance in three of the five indicators used in the assessment: economic strength, fiscal strength and external vulnerability.

“Nigeria was the biggest climber in a ranking of Africa’s most investable markets, propelled by President Bola Tinubu’s economic reforms, according to the findings of the latest edition of An Investor’s Guide to Africa.

“The continent’s biggest oil producer and refiner rose four places to eighth in the 2026 Bloomberg Economics Investment Risk-O-Meter, overtaking Rwanda, Tanzania, Kenya and Namibia as it improved in three of the five metrics assessed by the gauge: economic strength, fiscal strength and external vulnerability,” Bloomberg reported.

The development puts Nigeria among the biggest gainers on the continent, despite ongoing concerns about the country’s high public debt, cost of living, inflation, infrastructure deficit and foreign exchange pressures.

Mauritius emerged as the most investable African market in the latest ranking, while Botswana fell two places. South Africa, which topped the ranking in the previous edition, also dropped one place following a weaker economic growth outlook.

Nigeria’s improved position comes more than three years after Tinubu assumed office and embarked on a series of major economic reforms aimed at restructuring the country’s fiscal and monetary environment.

Add to Preferred Sources
Among the most significant measures were the removal of the petrol subsidy, reforms to the foreign exchange market and changes to electricity tariffs.

The Federal Government has repeatedly defended the reforms as necessary to address distortions that had weighed on public finances, discouraged investment and placed pressure on foreign exchange reserves.

However, the policies have also increased economic hardship for households and businesses, particularly through higher transport, food and energy costs. Despite the adjustment pains, Nigeria’s economy has continued to expand during the period under review.

Real Gross Domestic Product growth rose from 2.54 per cent in the third quarter of 2023 to 3.46 per cent in the fourth quarter of that year.

The economy subsequently grew by an average of 3.19 per cent in 2024 before accelerating to 3.85 per cent in 2025, its strongest annual performance within the period covered by the assessment.

Growth stood at 3.89 per cent in the first quarter of 2026, bringing the average quarterly growth between the third quarter of 2023 and the first quarter of 2026 to about 3.46 per cent.

The stronger growth performance has come alongside efforts by the government to increase revenue, reduce fiscal leakages and attract investment into critical sectors of the economy.

Nigeria’s improved position in the Bloomberg ranking, however, comes against the backdrop of a substantial increase in public debt.

Data from the Debt Management Office showed that Nigeria’s total public debt stood at N87.38tn as of June 30, 2023, shortly after Tinubu took office. By December 31, 2025, the figure had risen to N159.28tn. This represents an increase of N71.90tn, or about 82.3 per cent, in two and a half years.

The increase was driven by new borrowing, foreign exchange adjustments and the securitisation of certain legacy obligations, according to the DMO.

The development is significant for a country that has struggled for years to attract sufficient foreign capital because of concerns over exchange-rate instability, policy uncertainty, weak infrastructure, insecurity and limited fiscal space.

The reforms under the Tinubu administration have sought to address some of these constraints by allowing market forces a greater role in determining fuel prices, foreign exchange rates and electricity tariffs.

The foreign exchange reforms, in particular, were designed to reduce multiple exchange rates and improve transparency in the currency market, while the removal of the petrol subsidy was intended to reduce the government’s fiscal burden.

The electricity tariff reforms were also aimed at improving the financial viability of the power sector and encouraging investment by allowing electricity prices for some customer categories to better reflect supply costs.

Nigeria’s rise in the Bloomberg ranking therefore marks an improvement in its relative position among African investment destinations, even as investors continue to monitor the sustainability of its reforms, debt burden and economic growth.

Continue Reading

news

Update : Tinubu Expected Back in Abuja Today After Six-Day Stay in Lagos

Published

on

 

President Bola Ahmed Tinubu is expected back in Abuja this evening after concluding a six-day stay in Lagos, the Presidency announced on Monday.

The President will depart Lagos for the Federal Capital Territory after a visit during which he participated in activities marking Nigeria’s 66th Independence Day anniversary and held other engagements. SahelSecurity Report

Tinubu arrived in Lagos on Tuesday, September 29, following his annual holiday in London and Paris.

While in Lagos, the President addressed Nigerians on October 1 to mark the country’s 66th Independence Day anniversary.

Later that day, he attended the national premiere of MKO, a documentary chronicling the life, political struggle, and legacy of the late Chief Moshood Kashimawo Olawale Abiola, as well as the historic June 12 pro-democracy struggle.

Powered by VidCrunch
The premiere was held at the Wole Soyinka Centre for Culture and Creative Arts in Lagos.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the President’s return to Abuja in a State House statement issued on Monday.

“President Bola Ahmed Tinubu will depart Lagos for Abuja this evening after his six-day visit to the former seat of government,” Onanuga said.

 

 

 

 

 

 

 

Continue Reading

Trending

Copyright © 2025 Newsthumb Magazine | All rights reserved