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Naira Slides To N1,550/$ In Parallel Market

The Naira weakened further on Tuesday, August 26, closing at N1,550 per dollar in the parallel market, compared to N1,540 per dollar on Monday.

In the Nigerian Foreign Exchange Market (NFEM), the local currency also weakened slightly to N1,537 per dollar, compared to N1,536.99 per dollar the previous day, according to data from the Central Bank of Nigeria (CBN).

This depreciation widened the gap between the official and parallel market rates to N13 per dollar, a sharp increase from N3.01 recorded on Monday.

The currency’s drop reflects sustained pressure from high demand for foreign exchange amid limited dollar supply, a challenge that has persisted despite ongoing CBN interventions and recent policy reforms aimed at stabilizing the market.

Analysts warn that without a significant boost in forex inflows and improved investor confidence, the Naira could face further volatility in the coming weeks.

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Welfare Demands: ASUU Rejects Tinubu’s Loan Offer, Calls it a Greek Gift

The Academic Staff Union of Universities (ASUU) has rejected the federal government’s loan proposal for its members.
ASUU described the loan as a “Greek gift.”
This position was taken by the University of Lagos (UNILAG) chapter of the union during a special congress held on Tuesday, August 26.
The union also unanimously resolved to support all measures being considered by its national leadership to press home their demands.
Addressing members after a solidarity march from the Main Gate through the campus, Branch Chairman Prof. Idowu Kehinde said that if the government honored its obligations to lecturers, there would be no need for loans.
“The loans are to be guaranteed by our union. This is not necessary. The Governing Council of each university can give loans to our members based on our condition of service.
 
If we are paid a living wage and if all our allowances are paid as expected, who would want to go borrowing money? Let them do the needful and we are okay,” he said.
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Fuel Price Increased by 33% in July – NBS

It has been revealed that the national average retail price of Premium Motor Spirit (PMS), commonly known as petrol, rose by 33.02% year-on-year (YoY) to N1,024.99 in July 2025 compared to the same period in 2024.
This is according to a report by the National Bureau of Statistics (NBS).
On a month-on-month (MoM) basis, the average retail price decreased by 1.22% from N1,037.66 per litre recorded in June 2025.
According to the NBS Petrol Price Watch report for July 2025, Jigawa State recorded the highest average retail price at N1,107.52, followed by Lagos and Sokoto at N1,100.29 and N1,100.00 per litre respectively.
Conversely, Zamfara, Yobe, and Kogi states recorded the lowest prices at N884.63, N950.60, and N986.67 per litre respectively.
The report also showed that the North West zone recorded the highest average price at N1,035.85, while the North East zone had the lowest at N1,017.65.
Meanwhile, market checks indicated that petrol prices have continued to drop due to falling crude oil prices. Data obtained yesterday showed crude oil at $63.55 per barrel, while Brent crude stood at $67.69 per barrel.
Current pump prices were reported at N865–N875 per litre in Lagos and N890–N910 per litre in Abuja.
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Nigeria Now a K!lling Field, Over 10,000 Deaths Under Tinubu’s Watch — Peter Obi

The presidential candidate of the Labour Party, LP, in the 2023 election, Mr Peter Obi has described Nigeria as a k!lling field.
According to him, under President Bola Tinubu’s watch, over 10,000 Nigerians have been k!lled across Nigeria by non-state actors.
Quoting figures released by Amnesty International, he said over 10,000 lives have been lost to terrorists, bandits and other criminal gangs in just two years.
In a post on his official X handle yesterday, Obi said: “We can’t stop bemoaning the unending killing in the country. Despite not being at war, the killing, abduction and banditry incidents in our country continue to be daily and increasing at a worrisome rate.
 
“The recent attack in Okigwe, Imo State, that claimed the lives of many, with so many others still missing and feared dead, reflects once again, the alarming insecurity reality in our dear country.
 
“Over the weekend, I read in the dailies that Amnesty International warned that the Nigerian government is emboldening bandits through its “stunning failure” to protect citizens.
 
“They described the week as a bloody one, recording several deaths across various parts of the country, including the massacre of over 50 worshippers in a mosque in Katsina, the abduction of over 60 people in the same Katsina State, and the killing of over 15 farmers in Mangu, Plateau State, which displaced more than 200 families in just days. All of these in a single week in the country.
 
“Amnesty International further revealed that in just two years of this administration, over 10,000 Nigerians have been killed by armed groups in various states across Nigeria. Instead of improving security, insecurity has worsened under this administration and in just two years, with new armed gangs emerging.
 
“Nigeria, which is not even officially at war, has recorded over 10,000 civilian deaths in just two years, a number similar to civilian deaths in Ukraine, which is officially at war.
 
“This means that, in just two years, Nigeria’s insecurity crisis has taken almost as many civilian lives as a country under open warfare.
 
“We must now wake up as a nation. The first duty of any government is to secure the lives and property of its people.
 
“This should concern all of us who claim to be politicians and leaders. We must put Nigerian citizens first, stop the politicking, name-calling, and gossip, and focus on addressing these real issues. The time to act is now. A new Nigeria is possible.”
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There Is No More Corruption in Nigeria – President Tinubu Tells Brazil’s President

President Bola Ahmed Tinubu has claimed that there is no more corruption in Nigeria.
He stated this while assuring Brazilian investors that Nigeria’s economic reforms are yielding results.
The President gave the assurance on Monday during a meeting with ministers from both countries and members of the Brazil Business Group.
He emphasized Nigeria’s commitment to deepening partnerships in areas such as technology transfer, food security, manufacturing, and renewable energy.
Describing Nigeria as a “vast, untapped market full of opportunities for Brazilian companies,” Tinubu acknowledged that the reforms introduced by his government were “initially painful, but today the result is blossoming.”
 
“It’s getting clearer to the people. We have more money for the economy, and no more corruption,” he said.
Highlighting efforts to entrench transparency, the President referenced operations at the Central Bank of Nigeria. “You don’t have to know him before getting the foreign exchange you need. The speculators are out. In our currency market, the door is open for businesses.”
Looking back on his earlier visits to Brazil, the Nigerian president stressed the need to shift from symbolic relations to practical economic collaboration.
 
“We have allowed some problems and activities in the past to deter us from making progress and fulfilling our promises, but today we say that is the end of that.”
In a statement released by presidential spokesperson Mr. Bayo Onanuga, it was disclosed that President Tinubu attended a state luncheon at the Itamaraty Palace, where talks focused on strengthening economic cooperation, boosting trade, and promoting innovation-driven partnerships.
The signing of new bilateral agreements is set to enhance collaboration between Nigeria and Brazil, creating new avenues for sustainable development and technological exchange.
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100-level Yobe State University Student D!es In Auto Crash, 4 Others Injured

Amina Yakubu, a 100-level student of the Yobe State University has passed away.
She d!ed in a motor accident while four others sustained various degrees of injuries on Saturday.
Information gathered revealed that the tragic accident occurred while the students were traveling from Damaturu Metropolis to the university.
An eyewitness told Daily Trust that the accident which occurred around 5.30pm on Saturday along Gujba Road near the university’s gate, involved a tricycle popularly called ‘Keke NAPEP’ and a vehicle.
The source said among the four persons that sustained various degrees of injuries was one of the university’s matrons.
Confirming the incident on Monday, the Vice Chancellor of the University Professor Bukar Jamri, in a statement on behalf of the university community, extended his heartfelt condolences to the family of the deceased.
 
“Amina, a promising young lady from Potiskum Local Government Area of Yobe State was buried according to Islamic rites,” the statement said.
It was gathered that the institution’s management was working closely with relevant authorities to ensure that the injured students received necessary medical attention.
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ASUU Threatens Nationwide Strike Over FG’s Inaction on 2009 Agreement

The Academic Staff Union of Universities (ASUU), Akure Zone has threatened to embark on a nationwide strike.
Speaking on Monday, August 25, ASUU stated that it is mobilising members across the country for a nationwide rally scheduled for Tuesday, August 26, 2025.
According to the union, the move is part of ongoing efforts to pressure the Federal Government to address its long-standing demands.
The Zonal Coordinator, Adeola Oyebisi Egbedokun, made this known during a press conference at the Federal University of Oye-Ekiti. He described the rallies as the union’s first decisive response to the government’s continued inaction, warning that the protests signal what lies ahead if concerns remain unaddressed.
Egbedokun noted that the rallies will hold simultaneously across universities nationwide, with academic activities suspended during the demonstrations.
According to him, the National Executive Council (NEC) of ASUU has given the government until its scheduled meeting of August 28 to respond to the union’s demands, after which the next line of action would be determined.
“For over two years, we have kept faith with dialogue and refrained from strikes, but our patience has reached its limit. If the government continues to play games with the future of our universities, then it must bear the consequences of the storm that will follow,” he warned.
The union listed its demands to include: re-negotiation of the 2009 ASUU-FGN Agreement, opposition to the TISSF loan scheme—which it described as financial coercion—halting the proliferation of universities, and improved retirement benefits for professors and staff.
Egbedokun also urged members of the public, including the Nigerian Inter-Religious Council (NIREC), National Association of Nigerian Students (NANS), traditional rulers, and the National Assembly, to prevail on the government to avert an avoidable confrontation.
He accused the government of hypocrisy and neglect, citing the abandonment of the Yayale Ahmed report, the “debt trap” of the TISSF loan scheme, unchecked establishment of new universities, and the alleged poor treatment of retired academics.
 
“This government has chosen to mock knowledge, insult scholars, and trample on the foundation of the nation’s future. Enough is enough,” he declared.
He stressed that the burden of averting a crisis now rests solely on the government, saying:
“The ball is no longer in our court. It is squarely in theirs. Let them choose: justice or judgment, action or upheaval, peace or storm.”
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WAEC: Re-upload Your O’level Results Or Lose Admission – JAMB Orders Candidates

The Joint Admissions and Matriculation Board (JAMB) has issued a new order to all candidates seeking admission for the current cycle.
JAMB directed them to re-upload their results from the 2025 West African Senior School Certificate Examination (WASSCE).
The directive was issued in a statement on Monday via the official bulletin shared by JAMB on its X handle.
The statement noted that the directive concerns candidates who previously uploaded their results before the updated WASSCE and those who had yet to upload any results.
JAMB emphasized that it had cleared all previously uploaded results from its system to avoid confusion in the admission process, and all candidates are therefore required to return to accredited centres and re-upload their results, whether or not they differ from the earlier results uploaded.
“Candidates who sat the UTME with awaiting results are required to upload their O’Level results as soon as they are released. Many began uploading the WAEC 2025 SSCE before the final results were released. To avoid any confusion, the Board cleared all prior uploads, and all candidates are now required to re-upload their results, whether or not they differ from the earlier results uploaded,” the statement read.
The Board further emphasised that failure to comply with the directive would affect the eligibility of such candidates for admission.
“Please re-upload your 2025 SSCE result to the JAMB portal without delay,” the statement added.
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“I’ll run for president in 2027 to save the nation” – Atiku to Nigerians

Former Vice-President Atiku Abubakar has declared that he will contest the 2027 presidential election, insisting that Nigeria must be “rescued from the intensive care unit” where it currently lies.

According to Olateju, Atiku’s political focus was not on personal ambition but on ensuring a better Nigeria. But Abubakar swiftly distanced himself from those comments.

“I did not issue that statement,” Abubakar said in a telephone interview with his former media aide, Tunde Olusunle. “In this particular instance, there was no engagement with me to distil my thoughts. Prof. Olateju was not speaking for me.

“I will run in 2027. Nigeria needs to be decisively rescued from the intensive care unit it has been consigned to. The degeneration in our country—the poverty, the pain, the anguish—is unacceptable. I will be offering myself to lead the reclamation and reconstruction of our traumatised homeland.”

The former vice-president, who is currently in the United Arab Emirates (UAE), said the ADC coalition, to which he belongs, is building a mass movement that will “shock the world” and upstage the political establishment in 2027.

Atiku, who is 78 years old, has run for Nigeria’s presidency six times and was on the ballot as a candidate in 2007, 2019, and 2023. In May 2024, he vowed to “keep contesting” for the presidency as long as he remains healthy.

If successful in securing the ticket, he will be 81 years old by the time Nigerians go to the polls in 2027.

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ADC Promises 50% Leadership Slots For Youth And Women

The African Democratic Congress (ADC) has vowed to prioritize youth and women in governance by allocating at least 50 percent of elective and appointive positions to them.

The party’s National Secretary, Rauf Aregbesola, made the declaration in Lagos on Saturday during a ceremony to welcome defectors from the Peoples Democratic Party, PDP, Labour Party, and other political groups into the ADC fold.

Speaking under the theme: “When Good People Unite, Nigerians Win,” Aregbesola, a former Osun State governor and ex-Minister of Interior, described ADC as a youth-driven party committed to offering Nigerians a credible alternative.

He explained that the party’s constitution explicitly guarantees 35 per cent representation for women and another 35 per cent for youths, ensuring that their combined presence in leadership structures will never fall below 50 per cent.

“This is not tokenism but a recognition that Nigeria’s future lies in giving voice, space, and power to those who have long been underrepresented,” he said.

The party chieftain emphasised that the ADC is not controlled by an individual but by a collective of patriotic citizens determined to rebuild Nigeria. He criticised the hardship and uncertainty confronting the nation, warning that any government that fails to prioritise citizens’ welfare risks losing legitimacy.

“Our mission is to build a nation that future generations will be proud to inherit. Leadership must meet the basic needs of the people or it will collapse with time,” Aregbesola said.

He urged members to strengthen the ADC’s grassroots base rather than waste energy attacking political rivals. According to him, both the APC and the PDP have lost direction and reduced themselves to power-seeking platforms.

“We must not repeat the mistakes of APC and PDP. Let us build a people-oriented party from scratch,” he declared.

Earlier, Abimbola Ogunkelu, a PDP Board of Trustees member, who led a delegation of defectors, said their move to the ADC marked the beginning of a new era of progressive politics. He noted that the coalition was determined to mobilise grassroots participation and provide Nigerians with trustworthy leadership.

Segun Osho, who led defectors from the Labour Party, also said their defection was motivated by the urgent need to rescue Nigeria from its current challenges.

ADC chieftain Kolawole Ogunwale urged members to demonstrate their commitment through action, stressing that words alone would not guarantee the party’s success.

Among the notable defectors were former Lagos PDP chairmen Muritala Ashorobi and Tunji Shelle; PDP Vice Chairman (Lagos Central), Tai Benedict; Niyi Adams; and a former PDP youth leader.

Lagos ADC chairman, George Ashiru, formally presented the party’s flag, logo, and statement of purpose to Ogunkelu and other new members, symbolising their integration into the party.

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