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Okah gets life sentence for Oct. 1 bombing

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A Federal High Court in Abuja has sentenced Charles Okah and Obi Nwabueze to life imprisonment for the 2010 explosions in Abuja and Warri.

Justice Gabriel Kolawole, in a judgment that lasted about six hours, held that the prosecution proved its case against the two defendants in the five counts.

Okah and Nwabueze were charged with financing and actual participation the the act of terrorism in relation to the March 15, 2010 bomb blast in Government House Annex, Warri, Delta State and a similar blast on October 1, 2010 at Eagle Sqaure in Abuja.

The judge rejected the plea for mercy by lawyers to the defendants and insisted that they must be subjected to the maximum sentence prescribed under Section 15(1) and (2) of the Economic and Financial Commission Act

The offences are terrorism financing and carrying out of actual acts of terrorism as contained in counts 1, 5, 6, 7 and 8 of the eight-count charge on which they were arraigned on December 7, 2010.

Okah was convicted on counts 1 and 8. Nwabueze was convicted on counts 5, 6 and 7.

Okah, Nwabueze, Edmund Ebiware and Tiemkemfa Francis-Osvwo (aka General Gbokos) were initially arraigned before the court on December 7, 2010 in relation to the offence.

Francis-Osvwo died in prison custody on November 2, 2012. Ebiware, who had his trial conducted separately, is serving life sentence upon his conviction and sentencing in 2013.

Justice Kolawole, in his 145-page judgment, upheld the evidence led by the prosecution through its 17 witnesses.

He held that the defendants, through their six witnesses – Okah called two and testified for himself; Nwabueze called three, but chose not to testify- failed to puncture the prosecution’s evidence linking them to the crimes.

Justice Kolawole held that the prosecution, led by Alex Iziyon (SAN), established that the two explosions were financed with the N3.2million provided by Okah and his senior brother Henry Okah, who is serving  a jail term in South Africa.

The judge also held that the prosecution also established that Nwabueze got a total of N3.2m from Charles and Henry Okah with which he bought six used vehicles, four of which were utilsed for the two bomb.

Justice Kolawole raised four questions, which he resolved against the defendants, using the evidence led by the prosecution.

He noted that there was evidence that Henry and Charles Okah provided Nwabueze with funds to buy six cars.

The judge said: “There was evidence that the 1st defendant (Okah) provided N2m cheque to the 2nd defendant (Nwabueze), which he cashed on the 13 Sept 2010 at 12.47pm in a bank in Apapa, Lagos.

“The 1st defendant did not provide concrete evidence of what the N2m was used for other than as shown by the prosecution.

“What was the real object or purpose for which the funds were provided? Evidence shows that the funds were used to procure cars, a total of six, which were bought by 2nd defendant.

“And what were the cars used for? It is clear that the purpose for what the funds were provided was to purchase cars to be weaponsied to be used to cause blasts.”

“I have no doubt that the 2nd defendant made himself available as a foot soldier for the 1st defendant and Henry Okah for which he was handsomely rewarded.

“The prosecution has proved the offences charged beyond reasonable doubt. The defendants are found guilty on the five counts relating to them and are hereby convicted,” the judge said.

Okah and Nwabueze looked unruffled as the judge made his pronouncement. They intermittently spoke to each other and smiled as they stood in the dock.

Justice Kolawole regretted that the case that started on December 7, 2010 was just being decided on March 7, 2018. He called for a total review of the criminal justice system and relevant constitutional provisions to ensure that criminal cases were swiftly determined.

After his pronouncement, the defence lawyers, Emake Okoroafor (for Okah) and O. O. Otemu (for Nwabueze) pleaded with the judge to be lenient in sentencing the defendants.

They argued that, being first time offenders, the defendants were remorseful and were willing to turn a new leaf.

Izinyon objected to the defence lawyers’ request for the judge to pass lesser sentence on their clients.

He urged the court to consider the interest of victims of the twin blasts, their relatives and the trouble the defendants took the court through by resorting to playing pranks at a point in the trial.

Justice Kolwaole noted that since Ebiwari, who did not waste the court’s time, got life imprisonment, Okah and Nwanbueze cannot get less sentence.

Unlike in Ebiwari’s case where Justice Kolawole asked that he be considered for parole after 35 years, the judge was silent on parole in yesterday’s judgment.

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

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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.

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

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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.

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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.

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

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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.

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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.

 

 

 

 

 

 

 

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