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Lekan Balogun Crowned 42nd Olubadan As Seyi Makinde Presents Him The Staff Of Office

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The new Olubadan of Ibadan, Oba Lekan Balogun, who was today installed as the 42nd monarch on the revered tool, has promised not to let Ibadan down during his reign.

He made this promise at his coronation where the Oyo State Governor, Seyi Makinde, presented him with the staff of office and the instrument of office amidst singing and drumming at a well-attended ceremony at the Mapo Hall l.

The monarch in his maiden speech thanked dignitaries and the people of Ibadan for their support for him to ascend the throne after 36 years as the Mogaji of Ali Iwo.

Shortly before the presentation of the staff of office, former Governor Rashidi Ladoja, who is the Osi Olubadan, led other high chiefs to pay homage to the new monarch.

They all took turns to prostrate before the king.

In his remarks, Makinde urged monarchs not to dabble in politics.

“No politician can destroy any system without the cooperation of people in the system,” he added.

BIG STORY

‘That’s Where The Real Test Lies’ — Akin Alabi Says Reserved Seats Bill For Women Faces Hurdles At State Level

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Akin Alabi, a member of the house of representatives, says the proposal to create reserved seats for women in Nigeria’s legislature is a progressive step, but will require robust advocacy to scale through all legislative stages.

Alabi, who represents Egbeda/Ona-Ara federal constituency of Oyo state, spoke on Wednesday during an X Space discussion organised by TheCable Newspaper titled “The Debate on Reserved Seats for Nigerian Women.”

He acknowledged broad support for the initiative within parliament but noted that legislators still have varying concerns about its practicality and effect on political participation.

“Generally, I think it’s a positive bill,” Alabi said. “But we must understand there are hundreds of bills being considered at once. While this is a priority for some, other members are pushing issues that matter deeply to their constituencies.”

The lawmaker noted that even if the national assembly passes the bill, the real challenge lies with state parliaments.

“We can pass it in the house, but when it goes to the state houses of assembly, you need 24 states to vote in favour,” he said. “That’s where the real test lies.”

He also flagged potential concerns about implementation, adding that care must be taken to ensure reserved seats do not inadvertently limit opportunities for women seeking general seats.

“Yes, it will increase the number of women in parliament. But there’s a risk that in some places, women who want to contest may be told, ‘Go and take the reserved seat.’ Strong advocacy will be needed to avoid that.”

Alabi said his focus is on supporting the initiative and mobilising colleagues to ensure it succeeds.

“It’s easy to point out problems, but someone has brought a solution. My role is to support and help ensure it sees the light of day,” he said.

He noted that while the mood in the house appears largely favourable, individual votes during the final stage could differ.

“When it comes to voting, it’s not a voice vote — everyone votes privately on their computer. So persuasion must happen now. Support doesn’t always translate automatically at the vote.”

‘Passing A Bill Is Like An Election’

Addressing comments about the replacement of Adewunmi Onanuga, the late deputy whip of the house, with Ibrahim Isiaka — a male lawmaker — Alabi dismissed suggestions that the decision undermined gender inclusion.

He said Onanuga held the position based on competence and zoning rules, not gender.

“She earned her role through merit and because the position was zoned to the south-west and micro-zoned to Ogun state,” he said. “When she passed, it was natural that the replacement would also come from the same zone.”

Alabi emphasised that legislative leadership positions typically go to ranking members with experience, adding that the appointment “wasn’t about replacing a woman with a man — it was about existing structure and tradition.”

He urged advocates to keep engaging lawmakers at every level to secure the necessary votes.

“Passing a bill is like an election,” he said. “Even if people support you, you still need to mobilise them. That’s the real work ahead.”

The reserved seats proposal seeks to increase female representation by allotting additional seats for women in the senate, house of representatives, and state assemblies. Variations of the proposal include state-based allocations and special interest seats for women and persons with disabilities.

 

Credit: The Cable

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National Assembly Approves Tinubu’s Request To Borrow $2.35bn, Issue $500m Sovereign Sukuk

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The national assembly has approved President Bola Tinubu’s request to secure a $2.35 billion loan to support funding for the 2025 budget deficit.

The approval was granted on Wednesday by both the senate and the house of representatives.

Lawmakers in both chambers also endorsed Tinubu’s plan to float a $500 million debut sovereign sukuk in the international capital market (ICM) to boost infrastructure financing and broaden Nigeria’s funding options.

The house of representatives adopted the recommendation after considering the report of the committee on aids, loans and debt management.

The green chamber also approved the execution of a new external borrowing plan amounting to N1,843,669,786,987.16 — equivalent to $1,229,113,000 at an exchange rate of N1,500 to $1 — as captured in the 2025 Appropriation Act to help cover the N9.27 trillion budget deficit.

Earlier in October, Tinubu formally requested the approval of the national assembly, citing sections 21(1) and 27(1) of the Debt Management Office (Establishment) Act, 2003, which mandate legislative consent before new loans or refinancing deals can be executed.

According to the president, the funds will be sourced through instruments such as eurobonds, syndicated loans or bridge financing, depending on market conditions at the time of issuance.

Tinubu noted that pricing for the proposed eurobonds is expected to align with the current yield of Nigeria’s existing instruments in global markets — estimated between 6.8% and 9.3%, based on tenure.

On the $500 million sovereign sukuk, he explained that the objective is to attract a more diverse pool of investors while expanding the federal government’s securities offerings. He added that proceeds will be channelled into priority infrastructure projects nationwide.

He further highlighted that between 2017 and 2025, over N1.39 trillion has been raised domestically through sukuk programmes to fund major road and infrastructure projects, and that the external sukuk issuance will complement domestic efforts.

“It is necessary to explore additional funding windows and deepen the market for federal government securities. Accordingly, I request approval for the issuance of a stand-alone debut sovereign sukuk, with or without credit enhancement from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group,” Tinubu wrote in his letter to lawmakers.

The president said that up to 25% of proceeds from the sukuk may be applied toward refinancing higher-cost debt, while the remaining amount will go into infrastructure development.

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US Lawmakers Relying On Faulty Data To Make Christian Genocide Claims About Nigeria — FG

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Mohammed Idris, minister of information and national orientation, says some lawmakers in the United States are depending on inaccurate and misleading submissions to accuse Nigeria of carrying out a Christian genocide.

A group of US lawmakers had urged Marco Rubio, US secretary of state, to impose diplomatic sanctions on Nigeria, citing what they described as the “systematic persecution and slaughter of Christians”.

The Nigerian government has consistently rejected the accusation, maintaining that no religious group is targeted in the country.

However, the Christian Association of Nigeria (CAN) has repeatedly said Christian communities, particularly in northern states, have faced killings, attacks, and destruction of worship centres.

Speaking in an interview with CNN on Tuesday night, Idris said the claims circulating internationally do not reflect the realities or complexities of Nigeria’s security landscape.

He reaffirmed that the country remains committed to upholding religious freedom, human rights, rule of law, and democratic principles.

A statement issued on Wednesday by Rabiu Ibrahim, his media aide, restated the minister’s position.

Idris noted that the administration of President Bola Tinubu has intensified efforts to combat insecurity nationwide and protect all citizens.

He also emphasised that the Nigerian constitution guarantees freedom of religion for all residents.

“Some of the claims made by officials of the United States are based on faulty data and the assumption that victims of violence are largely Christians,” Idris said.

“Yes, there are Christians being attacked, but these criminals do not target one religion — they attack both Christians and Muslims, especially in the northern part of the country.”

The minister warned that such narratives could inadvertently embolden violent groups seeking to inflame religious tensions between Christians and Muslims.

‘Attacks Not A Religious War’

Idris said Nigeria remains a country where diverse faiths coexist peacefully, adding that framing the insecurity as religious persecution risks causing deeper divisions.

“Characterising these attacks as being against Christians alone will drive Nigeria towards unnecessary division,” he said.

“The criminals want to portray the situation as a fight between Christians and Muslims. It is wrong to describe Nigeria as a country that does not tolerate religious freedom.

“It is also inaccurate to say that nowhere is safe in Nigeria. Our country is indeed safe.”

He acknowledged ongoing security concerns but insisted the government is addressing them with renewed commitment.

“Yes, we have security issues in Nigeria, but the government has made massive investments to ensure safety for everyone,” he said.

The minister added that while Nigeria has battled insurgency and banditry since 2009, there has been improved coordination among security agencies over the last two years.

“In recent years, the government has focused more attention on improving security through better military hardware and strategy,” Idris added.

“We are also investing in agriculture and social services to strengthen non-kinetic approaches to peacebuilding.

“Even the recent changes in service chiefs were made to improve our security architecture and ensure government responds effectively to emerging threats.”

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