Nigeria's President-elect, Muhammadu Buhari, on Wednesday afternoon, received the Certificate of Return from the Independent National Electoral Commission (INEC) with a promise to make the country a better place than what he would inherit on May 29.
Buhari, in his acceptance speech after receiving the certificate, also asked President Goodluck Jonathan, who he defeated at the polls, not to be scared as he had nothing to be scared about.
"Let me state clearly that President Jonathan has nothing to fear from me. Although we may not agree on the methods of governing the nation, he is a great Nigerian and still our president.
"He deserves our support and permanent respect by virtue of the office he has held. This is how an honourable nation treats its servants and conducts its affairs; and this is how Nigeria should be," Buhari said while promising to tackle corruption and insurgency in the country.
Read his full speech titled: 'The Die Is Cast' below:
I am immensely grateful to God for this day and for this hour. I feel truly honoured and humbled that the Nigerian people have so clearly chosen me to lead them. The official announcement from INEC was the moment the vast majority of Nigerians had hoped and been waiting for. Today, history has been made, and change has finally come. Your votes have changed our national destiny for the good of all Nigerians.
INEC has announced that I, Muhammadu Buhari, shall be your next president. My team and I shall faithfully serve you. There shall no longer be a ruling party again: APC will be your governing party. We shall faithfully serve you. We shall never rule over the people as if they were subservient to government.
Our long night has passed and the daylight of new democratic governance has broken across the land. This therefore is not a victory for one man or even one party. It is a victory for Nigeria and for all Nigerians. Millions of you have worked for this day. So many have risked life and livelihood; and others have died that we may witness this moment.
And it is with a very heavy heart that I report many deaths and injuries amidst the jubilationa yesterday. We send our sincere condolences to the families and friends of those who lost their lives; and wish speedy recovery to those who suffered injuries. I appeal to all our supporters to celebrate this victory with prayers and reflection instead of wild jubilation.
May the souls of those who died rest in peace. Let us take a moment of silence to honour all of those whose sacrifices have brought us to this fine and historic hour. As the results of the election have shown, their labour has not been and will never be in vain. Democracy and the rule of law will be re-established in the land.
Let us put the past, especially the recent past, behind us. We must forget our old battles and past grievances—and learn to forge ahead. I assure you that our government is one that will listen to and embrace all.
I pledge myself and our in-coming administration to just and principled governance. There shall be no bias against or favouritism for any Nigerian based on ethnicity, religion, region, gender or social status. I pledge myself and the government to the rule of law, in which none shall be so above the law that they are not subject to its dictates, and none shall be so below it that they are not availed of its protection.
You shall be able to go to bed knowing that you are safe and that your constitutional rights remain in safe hands. You shall be able to voice your opinion without fear of reprisal or victimisation. My love and concern for this nation and what I desire for it extends to all, even to those who do not like us or our politics. You are all my people and I shall treat everyone of you as my own. I shall work for those who voted for me as well as those who voted against me and even for those who did not vote at all. We all live under one name as one nation: we are all Nigerians.
Some unfortunate issues about my eligibility have been raised during the campaign. I wish to state that through devotion to this nation, everything I have learned and done has been to enable me to make the best possible contribution to public life. If I had judged myself incapable of governing I would never have sought to impose myself on it. I have served in various capacities and have always put in my best.
But despite the rancour of the elections, I extend a hand of friendship and conciliation to President Jonathan and his team. I hereby wish to state that I harbour no ill will against anyone.
Let me state clearly that President Jonathan has nothing to fear from me. Although we may not agree on the methods of governing the nation, he is a great Nigerian and still our president. He deserves our support and permanent respect by virtue of the office he has held. This is how an honourable nation treats its servants and conducts its affairs; and this is how Nigeria should be.
I look forward to meeting with President Jonathan in the days to come to discuss how our teams can make the transition of administrations as efficient as possible.
Here, I want to thank my party for selecting me as its candidate. I thank our party leaders and members for the steadfast contributions they made to bring our dream to fruition. I thank INEC, the police and all other government agencies for performing their tasks in a proper manner and for refusing to be induced to undermine the election and the democratic process.
I also wish to thank religious Leaders, traditional leaders, the media, labor unions, Civil Society organisations, organised private sector, youths and students for their roles in this election.
I give special thanks to President Obama and his timely intervention and support for peaceful and credible elections in Nigeria and for sending Secretary John Kerry and other United States officials. The European Union - especially the United Kingdom, France, Germany and other nations that were actively involved in ensuring the success of this election are equally appreciated. My sincere thanks to the United Nations Secretary General Mr Ban-Ki Moon. The Commonwealth, China, India and other Asian and Gulf states are also hereby appreciated. Finally our brothers in the African Union and ECOWAS have truly and clearly shown and demonstrate their commitment to our democratisation process. Former Presidents John Kuffour, Amos Sawyer, Bakili Muluzi and his team are well appreciated. I must also add my appreciation for the role played by civil societies, national and International observers, other world leaders in ensuring that Nigeria holds free and fair elections.
I assure all foreign governments that Nigeria will become a more forceful and constructive player in the global fight against terrorism and in other matters of collective concern, such as the fight against drugs, climate change, financial fraud, communicable diseases and other issues requiring global response. I want to assure our fellow African nations that Nigeria will now stand as a more constructive partner in advancing the matters of concern to our continent, particularly with regard to economic development and eradication of poverty.
Former head of state and president Chief Olusegun Obasanjo, General Yakubu Gowon, Alh. Shehu Shagari, General Ibrahim Babangida, Chief Ernest Shonekan and General Abdulsalami Abubakar deserve commendations for their statesmanship and words of caution and counsel for peace during the tense moments of this electoral period.
Most of all, I thank the people of Nigeria for reposing their confidence in me at this trying moment. Our nation wrestles many challenges including insecurity, corruption, economic decline. I pledge to give you my best in tackling these problems.
The good people of Nigeria, your obligation does not end with casting your ballot. I seek your voice and input as we tackle these problems. This will not be a government democratic only in form. It will be a government democratic in substance and in how it interacts with its own people.
No doubt, this nation has suffered greatly in the recent past, and its staying power has been tested to its limits by crises, chief among which is insurgency of the Boko Haram. There is no doubt that in tackling the insurgency we have a tough and urgent job to do. But I assure you that Boko Haram will soon know the strength of our collective will and commitment to rid this nation of terror, and bring back peace and normalcy to all the affected areas. We shall spare no effort until we defeat terrorism.
Furthermore, we shall strongly battle another form of evil that is even worse than terrorism—the evil of corruption. Corruption attacks and seeks to destroy our national institutions and character. By misdirecting into selfish hands funds intended for the public purpose, corruption distorts the economy and worsens income inequality. It creates a class of unjustly-enriched people.
Such an illegal yet powerful force soon comes to undermine democracy because its conspirators have amassed so much money that they believe they can buy government. We shall end this threat to our economic development and democratic survival. I repeat that corruption will not be tolerated by this administration; and it shall no longer be allowed to stand as if it is a respected monument in this nation.
I ask you to join me in resolving these and the other challenges we face. Along the way, there will be victories but there may also be setbacks. Mistakes will be made. But we shall never take you for granted; so, be rest assured that our errors will be those of compassion and commitment not of wilful neglect and indifference.
We shall correct that which does not work and improve that which does. We shall not stop, stand or idle. We shall, if necessary crawl, walk and run to do the job you have elected us to do.
I realise that the expectation of our people today is as high as their commitment to change has been strong and their belief in us unshaken. While we pledge to begin doing our best without delay, we would like to appeal to them to appreciate the gravity of our situation, so that we become more realistic in our expectations.
We will govern for you and in your interests. Your vote was not wasted. This is not the first time Nigerians have cast their votes for us, and this is not the first time they have been counted; but this is the first time that the votes have been allowed to count. With the help of God, we pledge to do our utmost to bring forth the Nigeria you seek.
Thank you for your patience and attention.
General Muhammadu Buhari, GCFR
President-Elect,
Federal Republic of Nigeria.
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Former Anambra State governor and presidential candidate Peter Obi has disagreed with Atiku Abubakar’s proposal to restore Nigeria’s fuel subsidy if elected president in 2027.
Speaking on Monday at the Nigerian Bar Association conference in Port Harcourt, Rivers State, Obi argued that removing the subsidy was necessary but faulted the Federal Government for failing to properly manage the resources generated from its removal.
Atiku, who supported the removal of fuel subsidy during the 2023 presidential election, has since indicated that he would reconsider the policy and restore the subsidy if he wins the 2027 election.
Obi, however, maintained that reversing the policy would not address the underlying problems. According to him, the major failure has been the poor management of the funds saved after the subsidy was removed.
He said the government should have accompanied the policy with measures designed to reduce the hardship faced by Nigerians and should have channelled the resulting savings into productive areas of the economy.
“What we should have done is that when we removed it, we should have given the people alternative usage for the subsidy,” Obi said.
He further alleged that the funds recovered from subsidy removal had not been adequately accounted for, claiming that the resources were being “mismanaged and stolen.”
Obi said he had advocated a more structured approach to subsidy removal before the 2023 election, arguing that the savings should have been deliberately invested in areas capable of improving the lives of Nigerians and strengthening the economy.
“Go to my manifesto, I said it before, I said I will do it in an organised manner and whatever we recover would be invested appropriately,” he said.
President Bola Tinubu announced the removal of petrol subsidy during his inauguration on May 29, 2023. The decision led to a significant increase in petrol prices and intensified concerns over inflation and the rising cost of living.
While the Federal Government has defended the policy as necessary to reduce pressure on public finances and redirect government resources, the implementation of the reform and the management of the resulting savings remain contentious issues.
With the 2027 election approaching, the contrasting positions of Obi and Atiku have added fuel subsidy to the growing debate over how Nigeria should manage its economy, protect vulnerable citizens and use public resources more effectively.
News
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned the 31 companies that emerged successful in the 2025 oil and gas licensing round to pay their required signature bonuses within the statutory timeframe or risk losing their provisional awards.
The warning comes one month after the commission conducted the commercial bid conference in Abuja, where the successful bidders were announced for 37 oil and gas blocks.
In a notice issued on Sunday, the NUPRC said the compliance process had commenced following the issuance of provisional award letters to the successful companies.
The commission stated that bidders who failed to meet the payment deadline in accordance with the Petroleum Industry Act (PIA) would forfeit their bid guarantees and have their provisional awards transferred to the next-ranked reserve bidders.
“Exactly a month ago, the NUPRC hosted the 2025 commercial bid conference in Abuja where 31 companies emerged winners of 37 oil and gas blocks. Having issued the winners with the provisional awards, compliance with the payment of signature bonuses has already begun,” the commission said.
The 37 blocks awarded in the licensing round cover several areas, including the Niger Delta onshore and shallow-water fields, deep offshore assets and frontier basins.
The assets include PPL 2A29 to PPL 2A62 in the Niger Delta, PPL 2010 in the deep offshore, PPL 308 in the Benin Basin, PPL 900 to PPL 903 in the Anambra Basin, PPL 700 in the Chad Basin, and PPL 800 and PPL 801 in the Benue Trough.
The NUPRC also released the names of the 31 successful companies, together with the ranked reserve bidders for each of the 37 blocks.
A total of 143 companies participated in the licensing exercise, submitting about 200 bids for the assets on offer. However, 13 of the 50 blocks originally listed for the round received no bids.
Under the PIA and the applicable licensing guidelines, successful bidders are required to pay signature bonuses ranging from $3 million to $7 million for each awarded block.
In addition to the signature bonus, the companies must provide the required guarantees, pay first-year rents and fulfil other post-award obligations within the prescribed period.
Failure to satisfy these requirements will result in the forfeiture of the affected company's bid guarantee and the revocation of its provisional award. The block will then be offered to the designated reserve bidder.
The NUPRC Chief Executive Officer, Oritsemeyiwa Eyesan, had previously urged the successful bidders to complete their payments promptly and move ahead with the development of their awarded assets.
The commission has advised bidders, industry stakeholders and members of the public to consult the 2025 Licensing Round portal for additional information on the awards and compliance requirements.
Under the applicable PIA framework, successful bidders have 90 days from the issuance of their provisional awards to complete the required payments and other conditions.
With the provisional awards issued following the July 21, 2026 commercial bid conference, the 90-day compliance period expires on October 19, 2026.
As of August 23, 2026, 33 days of the 90-day period have elapsed, leaving 57 days for the successful companies to complete their statutory obligations.
Companies that fail to pay their signature bonuses and first-year rents within the deadline risk losing both their bid guarantees and the provisional awards. The affected blocks would subsequently be reassigned to the respective reserve bidders in line with the licensing rules.
The NUPRC's latest notice therefore signals that the successful bidders have entered the final stages of the award process, with compliance now required before the provisional awards can progress toward full development of the assets.
Business
In The Spotlight
Vanguard recently published pathetic pictures of the Benin-Sapele-Warri Expressway; and Punch revealed to us what happens to the Lagos-Calabar Expressway, not even 15 per cent completed, each time there is a heavy downpour in the Lekki peninsula.
The road becomes so flooded, it becomes barely usable. Morning shows the day. If Tinubu-Umahi’s legacy road already shows evidence of long-term stress, pity the Nigerians who will ply that road ten years from now.
The Minister was in Lagos State recently, half-begging, half attempting to blackmail Governor Sanwo-Olu to cough up funds to repair the mistakes made by Engineer Umahi and the contractors who hastily embarked on the road without Environmental Impact Assessment. He is building in Lagos and coastal states the sort of rickety roads he left in Ebonyi State. He has the right President for that sort of shoddy business. Right now, parts of the road have been vandalized – even before completion. Fellow Nigerians are not paying attention as they should. Pity.
Vanguard, Punch and Daily Trust have been doing Nigerians a favour by pointing to one of the greatest failures of the Tinubu administration – the maintenance of federal highways under Minister David Umahi – whose major achievement in three years had been attracting attention to himself through a scandal involving homicide. On the whole, Nigerian roads, federal and state, have not been receiving the attention they deserve in the last eleven years; the neglect just got worse.
Experience on Nigerian roads from 1974-2019
“Hit the road, Jack”. Advice from my Sales Manager, in Boston, USA, 1968.
My first full time job was in selling. It was as a salesman for a leading pharmaceutical company, Lederle Laboratories, in 1968, that Mr. Al, for Albert, Abby, came into my life. As my Sales Manager, he monitored my activities and also as my mentor. He drilled into my head the idea that a salesman’s work consists of being on the road as much as possible; in order to meet customers. By the time I arrived in Nigeria, in 1974, to start work as the Marketing Manager of Abbott Laboratories, marketers of SIMILAC baby food, being on the road 70 per cent of the time had become routine. It was new to my sales staff, but proved rewarding for all concerned – company, staff and especially me.
Until August 1974, Ughelli, Delta State, was the farthest distance I ever traveled in Nigeria. I hit the road. By August 1975, I had covered all the 12 State capitals created by General Gowon, at least three times; and the trips had just begun. By 1998, after Abacha had increased the number of states to 36, I was in charge of Circulation in Vanguard; and my annual itinerary called for visiting all the offices at least once a quarter. In fact, I opened new Vanguard Offices in Ado-Ekiti, Yenagoa, Abakaliki, Gombe, Damaturu, Birnin Kebbi and Dutse. From 2001 to 2007, I traveled to all the stations at least three times a year. Over 80 per cent of the trips were by road – even though flight options were available to me. I got to know Nigerian roads as nobody I have ever met knew them. Divorce was threatened by the occupants of the home front. There was no major road constructed, expanded or diverted which I was not familiar with. By 2017, the trips were reduced to about 20 states every year.
Thus, each time a new Minister of Works is appointed, at least until 2019, I know the problems he faces. Shortly after President Jonathan assumed office, I published an article titled Nigeria’s 70 Most Important roads. These are the roads over which 70 to 80 per cent of goods are transported every day. Lagos-Ibadan Expressway remains the first one in all respects. I went further. The biggest map available at the CMS Bookshop was obtained and all the 70 roads were identified for the Minister in charge of roads with the advice: “take care of these roads and Nigerians will never forget you”. I wasted my time and effort; and Nigerians have been paying dearly for it. Since then, two Ministers of Works were appointed; each left Nigerian roads infinitely worse than when he started.
Three years of Umahi, more of the same
“It aint the things you don’t know that cause the problem; it’s things that you think you know that aint so.” Ralph Waldo Emerson, 1803-1882
To the best of my knowledge, no Minister of Works has been appointed in Nigeria, with the exception of late General Mamman Kontagora, who can be said to have had a fairly good knowledge of Nigerian roads by the time he was appointed. Consequently, we have selected so many good men; but, for the wrong task. Many people, including me, would have protested if Fashola was not appointed Minister by Buhari after his sterling performance as Governor of Lagos State. But, he failed dismally as Minister of Works. So, in all fairness to Umahi, many of the roads in terrible condition were inherited from past administrations. That said; it is also a fact that every new appointee is not compelled to accept the offer; and “if you can’t stand the heat, get out of the kitchen”. Umahi inherited several death traps; but, like all members of the All Progressives Congress, APC, he also helped to conceal the truth from Nigerians. Now, he is holding the bag; with all the incriminating evidence of poor performance. Umahi should also be excused for the failure to establish priorities. His boss, without consultations, despite all the lies told, had already conceived of a new road – the Lagos-Calabar Expressway – and the preferred contractor was determined, without bidding. The Minister spent his first year defending a decision made without his input. He added his own.
Umahi started out sounding like a “know-it-all”. He is an Engineer; so he knows all there is about road construction. He even dictated that all federal roads, irrespective of terrain, would be paved with cement – without consideration for the impact on the price of cement; which is essential for building construction.
Perhaps, not establishing objective priorities was his biggest blunder. Some Nigerian roads carry most of the heavy loads and require more attention. The Lapai-Bida, the Benin-Sapele and the Asaba-Onitsha roads each carry more loads than all the Federal roads in Taraba, Ebonyi and Kebbi states put together. I could not agree more with Senator Adams Oshiomole who recently carpeted Umahi for lack of priority in his selection of roads receiving his attention. The Okene-Auchi-Benin road carries the largest load of cement heading for Southern States, as well as fuel tankers moving North. Without prioritizing the most important federal roads, we are indirectly slowing down economic development, making products made in Nigeria less competitive and entrenching poverty. In the absence of rail nationwide, roads constitute the life-blood of our nation. They are soaked now with our blood.
By Dele Sobowale
In The Spotlight
How many fake agencies can the Tinubu Presidency go after at a time? When I posed this question in my column in early August, I intended it as rhetoric. The fake agencies and their operators apparently took it as a challenge.
On Friday evening, the ICPC Chairman, Dr Musa Aliyu, SAN, emerged from his second meeting with the President in 48 hours to announce the discovery of yet another fake agency, grandly named the National Brands Development and Made-in-Nigeria Special Project Office and promoted by one Prince George Buchi Nwabueze.
Side note: Because of the length of these agency names, I’ll refer to them by their promoters, who happen to be ‘Princes’. Say, Prince Adeyemi’s PFIFC or Prince George’s agency. Okay?
So, I sat there among my colleagues, listening to Aliyu reel out another episode of an ongoing soap opera whose production studio is in the Nigerian civil service. We were arguably the first set of ears to get the gist, a privilege that comes with the burden of sharing it with the rest of the world.
Twenty-four hours earlier, I spotted the ICPC chairman making his way through the corridors leading to the President’s office for the umpteenth time. Aliyu had since become a standard feature at the State House since revelations about Prince Adeyemi’s fake agency, the Presidential Foreign Investment Promotion Council, first went public.
Draped in a white agbada, Aliyu sounded fulfilled as he announced another big catch, Prince George. Unlike his counterpart in the PFIFC, Prince George did not settle for a spot in the Federal Secretariat. No! He operated from inside the Office of the Secretary to the Government of the Federation. He was also found to operate under at least five variations of his own name, which is fitting. A fake agency deserves a fake agency’s worth of aliases.
The President ordered his immediate arrest and suspended three permanent secretaries: M.S. Danjuma, Nadungu Gagare and Richard Pheelangwah.
If you are keeping count, you would have counted six fake agencies or actors in the past few months. Four! First came Prince Adeyemi’s now-dissolved PFIFC. Then the ICPC’s interim report of August 6 unearthed two more: the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public-Private Partnership.
There is also the Presidential Implementation Committee on the Alienation of Federal Government Properties, a body created in 2000 under Obasanjo to manage the sale and lease of federal landed assets.
Though now dissolved, its erstwhile secretary, B.S. Dutsin-Ma, had continued operating. In early August, the Presidency directed him to cease acting on behalf of the committee and the Federal Government.
Last September, the Presidency distanced itself from Mr Fegho Umunubo, an erstwhile Special Assistant on Digital and Creative Economy in the Vice President’s office, whom it warned was still acting in his old capacity despite being let go.
Now Prince George’s outfit makes six similar instances in under a year. At this rate, the fake agencies and actors may soon require their own coordinating ministry. And who knows if the next ‘Prince’ may be found operating from the Presidential Villa itself?
Lest we think this plague is new, history says otherwise. You see, Nigeria has always had people who understood that in a country where government is everywhere, the most profitable business is to impersonate it. From the 1980s and 1990s, there are tales of fake recruitment syndicates selling appointment letters into the Army, Customs and NNPC from rented offices with convincing letterheads. Some past regimes responded with periodic raids, tribunals and occasional decrees. But the racket always reincarnates.
Over the years, the ICPC and EFCC have busted fake job-racketeering “ministries” in Abuja that interviewed hundreds of applicants and collected “processing fees” for years before anyone really noticed. The sobering reality is that we have always chased the “Princes” one at a time. And there will always be another ‘Prince’ to sit on that throne.
Also, it is not uniquely a Nigerian thing. In California in 2015, authorities uncovered a self-declared “Masonic Fraternal Police Department”, a policing outfit with its own badges, uniforms and a website claiming a 3,000-year history. It was run by three “Princes” until the state of California charged them with impersonating officers.
The difference is not that other countries breed fewer fraudsters than we do. It is that their systems make the fraud quite short-lived because the list of legitimate agencies is knowable by the public, leaving the fake ones to glow in the dark.
Moreover, if government ministries, departments and agencies were fewer than they are now, there would be fewer hiding places for the fakes.
Which brings me, once again, to one document still gathering dust on the President’s desk: the Oronsaye report. Commissioned in 2011 and submitted in 2012, Steve Oronsaye’s committee found 541 federal parastatals, commissions and agencies and recommended pruning them to about 263. It recommended mergers, scrapping, subsuming and anything else that could shrink that number.
To his credit, President Tinubu revived it in February 2024, ordering full implementation. Two and a half years later, however, the rathole of redundant agencies has only widened, and now fake ones are camouflaging among the real ones. Implementing Oronsaye would arguably leave fewer agencies with clearer supervision and a slimmer cost of governance. Again, it is not a silver bullet. Matter of fact, the report is 14 years old; some recommendations would need fresh legislation. But why chase rats one by one when we can fumigate the entire network of holes?
While the ICPC is hunting “Princes”, President Tinubu is assembling his Avengers. According to the APC Presidential Campaign Council list the Presidency released on Saturday morning, Tinubu will sit as chairman; Vice President Kashim Shettima and party chairman Nentawe Yilwatda will co-chair the council. Ex-Zamfara governor Abdulaziz Yari will serve as DG, and Hope Uzodimma, still fresh from surviving the storm that rocked the Progressives Governors’ Forum months ago, will serve as secretary.
Senate President Godswill Akpabio, Speaker Abbas and Governor Buni will serve as zonal heads; Oshiomhole will head mobilisation, while James Faleke will return to his 2022 role in election planning.
The media directorate already looks like a special-purpose media house of its own. Information Minister Mohammed Idris will coordinate alongside Dr Dele Alake, Bayo Onanuga, Issa-Onilu, Mr Tunde Rahman, Dr Sunday Dare, Daniel Bwala and Felix Morka.
By Stephen Angbulu