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World Bank; Nigeria remains Africa’s largest economy

The World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, has confirmed that Nigeria remains the largest economy in Africa by Gross Domestic Product (GDP) despite the challenges faced by its private sector.

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Speaking at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja on Thursday, Dr. Diop stated that while Nigeria receives far less Foreign Direct Investment (FDI) than its potential warrants—especially in comparison to countries like Indonesia and South Africa—it continues to hold its position as Africa’s biggest economy.

He stated that the CPSD report, set to be released in the coming weeks, will reveal the impact of private sector constraints on economic growth. He noted that if targeted actions were taken to remove these obstacles, Nigeria’s economic potential would be significantly enhanced.

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The current macroeconomic reforms, he explained, have created a favorable environment for such changes.

He cited the country’s recent economic stabilisation measures, particularly exchange rate market adjustments and improved access to foreign exchange, as critical steps that have already enhanced investment conditions.

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Diop outlined four key sectors where strategic reforms could unlock massive investment and job creation.

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In the Information and Communication Technology (ICT) sector, investment opportunities worth up to $4 billion could be realised, potentially creating more than 200,000 jobs, he said..

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He further stated in agribusiness, reforms could unlock $6 billion in investment and generate over 275,000 jobs.

The solar photovoltaic (PV) industry, according to him, holds the potential for $8.5 billion in investment and more than 129,000 jobs while the pharmaceutical sector could attract $1.6 billion and create more than 30,000 to 40,000 jobs.

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For the ICT sector, he identified the high, unpredictable, and inconsistent right-of-way fees, levies and informal charges—comprising 30 to 70 percent of broadband rollout costs—as a major barrier.

Addressing these regulatory inconsistencies, he argued, would be a game-changer for broadband expansion.

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He acknowledged that the National Economic Council has recognised this issue and that progress is being made through a World Bank-supported initiative
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Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom

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Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom

The Edo State Police Command has uncovered a staged kidnapping in Ekpoma, where a man allegedly faked his own abduction, forcing his brother to sell property to raise a ransom.

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The incident was reported to the police on January 10, according to a statement issued by the state Police Public Relations Officer, SP Eno Ikoedem.

Investigations revealed that the supposed victim, identified as Idris Isiaka, a vulcanizer based on Balogun Street in the Emaudo community of Ekpoma, conspired with two accomplices to orchestrate the fake kidnap.

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Police said Isiaka arranged for news of his “abduction” to be circulated on social media through a blogger and subsequently demanded a ransom of ₦12 million from his family.

Believing the story to be genuine, his brother reportedly sold a personal property in a desperate bid to secure his release.

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However, detectives later uncovered the deception and arrested Isiaka along with his collaborators.

The police described the act as criminal and deceitful, warning members of the public against engaging in similar schemes.

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The suspects are currently in custody and are expected to face prosecution once investigations are concluded.

The PPRO explained that the suspect “immediately engineered the circulation of his kidnap on social media through a blogger and demanded a ransom of Twelve Million Naira.

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“His family in Kogi State was further contacted, threatening that he would be killed if the ransom was not paid”.

He said the brother, however, “sold his property and paid part of the ransom money which was shared with his accomplices, one Mohammed Saliu and Godwin Mohammed, both of whom are currently at large.

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“The suspect has confessed to the crime. He will be arraigned in court after investigation”.

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Kwankwaso sets tough conditions for possible APC defection

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Kwankwaso sets tough conditions for possible APC defection

Former Kano State Governor and National Leader of the New Nigeria Peoples Party (NNPP), Senator Rabiu Musa Kwankwaso, has indicated that any move toward the All Progressives Congress (APC) would depend on firm guarantees regarding political control in Kano and the protection of his supporters.

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He made this known on Wednesday at his Miller Road home in Kano while receiving party leaders and loyalists from Rano and Dawakin Tofa Local Government Areas, as well as members of various Kwankwasiyya groups who used the visit to restate their allegiance to the NNPP.

“I didn’t say I won’t join APC, but we must first be clearly assured of the future of the Kano State government before we join the APC. What will be the fate of our lawmakers and other supporters before we agree to defect?” Kwankwaso said.

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Reflecting on previous political alliances, the former governor warned against repeating past mistakes, recalling how his political bloc once helped to build a government but was later marginalized.

“In the past, we joined and contributed to forming the government, but later we were abandoned. That was why we left the party. Have they now changed their position toward us? Everyone knows the role we played at that time,” he added.

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Kwankwaso emphasised that discussions about defection remain premature, insisting that no concrete commitments have been offered to safeguard the NNPP’s hold on power or its organizational framework in the state.

“Up till now, no one has given me a clear assurance that we will be allowed to retain our government and continue with our political structure. I need to know where I stand,” he said.

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The gathering drew several senior government and party figures, including Deputy Governor Comrade Aminu Abdussalam Gwarzo, Commissioner for Science and Technology Yusuf Kofar Mata, NNPP state chairman Hon. Hashim Sulaiman Dungurawa, and other prominent officials. All openly reaffirmed their loyalty to Kwankwaso and the Kwankwasiyya Movement.

Political watchers noted that the visible solidarity from top officials points to growing internal tensions and further underscores Kwankwaso’s strong grip on the party, especially amid rumors surrounding a possible defection of Governor Abba Kabir Yusuf to the APC.

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Analysts believe Kwankwaso’s measured position reflects a broader strategy to secure political structures and protect loyalists as preparations gradually shift toward the 2027 general elections.

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Suspected notorious kidnapper linked to multiple kidnappings arrested by Police

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Suspected notorious kidnapper linked to multiple kidnappings arrested by Police

The Police Command in Rivers on Wednesday, said it has arrested an alleged notorious kidnapper linked to multiple kidnapping incidents in the state.

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The Command’s spokesperson, CSP Grace Iringe-Koko, disclosed this to journalists in Port Harcourt, stating that the suspect was arrested on Jan. 10.

She said that the suspect aged 30, was identified as the ringleader of a notorious kidnapping syndicate, that coordinated several abductions for ransom across the state.

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According to her, the suspect who is responsible for multiple kidnappings along the Port Harcourt International Airport Road, Omagwa, was apprehended by operatives of the Command’s Anti-Cultism Unit.

“The suspect was planning to relocate his operational armoury and camp to Agbonchia/Oyigbo Road in Eleme Local Government Area before his arrest,” she said.

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She said that the recovered items include an AK-47 rifle with breach number 2125 and two magazines loaded with 36 rounds of 7.62 x 39mm live ammunition.

The spokesperson said that during preliminary investigations, the suspect voluntarily confessed to being the ringleader of the kidnapping syndicate.

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According to her, the suspect and exhibits are currently in police custody, while efforts are ongoing to apprehend other fleeing members of the gang. (NAN)

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