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Nigerians will continue to feel impact of our projects long after my exit – Buhari

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BUHARI, PROJECTS, IMPACT

 

President Muhammadu Buhari has explained that his administration’s projects are designed to yield long-term benefits.

The president also restated his commitment to such projects, saying their “full impacts” would be felt long after his exit from office.

He stated this during the inauguration of the Nigeria Sovereign Investment Authority (NSIA) Board in Abuja on Wednesday.

The new board, which will operate in a non-executive capacity, has Farouk Mohammed Gumel from Northwest as chairman.

The others are Babatunde Sobamowo (Southwest), Isiekwena Ikemefuna Louis (Southsouth), Ali Goni Kadugum (Northeast), Oniyangi Kabir Sulaiman (Northcentral) and Ike Chioke (Southeast).

Buhari, according to a statement by his Special Adviser on Media and Publicity, Femi Adesina, challenged the board to embark on investments that support economic diversification, as global oil prices are projected to drop to around $40 per barrel by 2030.

Reappraising the roles of the NSIA as a strategic government partner, the President told the board that the “long term projects and programmes” of his administration are primarily designed to create jobs for Nigerians.

He said: ‘‘This administration took the very difficult decision to invest for the long term. We avoided taking shortcuts knowing very well that the full impact of most of the projects we started will only be felt long after we have left office.

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“This government operates on the agenda for long term change which we all agree is inevitable. Change happens whether you are ready for it or not.

‘‘As representatives(board members) of the Authority, you are required to continue to drive the performance of the NSIA to deliver benefits to all Nigerians.

‘‘You must bear in mind that the National Economic Council (NEC), your governing council and Nigerians as a whole, will hold you accountable for this mandate.

‘‘Periodically, you will be required to provide evidence of your stewardship at the governing council meetings where your performance will be assessed.

‘‘The bar before you is very high and all of us are counting on you to deliver.”

The President recalled that NSIA, one of Nigeria’s premier economic institutions, was conceived to be a store of wealth that may be drawn upon at times of economic challenges.

He expressed delight that so far the institution has discharged its mandate dutifully.

The President added: ‘‘This is why we prioritised the appointment of a new board to ensure that the NSIA does not lose steam and can continue to benefit from the oversight it needs to deliver on its mandate.

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‘‘The new board we assembled has a crop of seasoned, eminently qualified, and experienced professionals.

‘‘We expect these individuals to bring their wealth of experience to bear, in the next phase of NSIA’s journey.”

Buhari used the occasion to thank the last Board of Directors whose tenure ended in May 2021.

Acknowledging their commitment, dedication and contributions to the implementation of the objectives of the NSIA, the President said ‘‘This distinguished group of patriotic Nigerians heeded the call to serve and deployed the best of their abilities to oversee the affairs of the Authority on behalf of the nation over the last four years.”

Notably, Buhari said the immediate past board ‘‘guided the organisation through a critical stage of its existence and have left it standing as a credible world-class institution that turns out consistently good results.’’

He added: “In the past four years, both the public and private sectors in Nigeria have partnered on strategic projects with the NSIA.

‘‘On the public sector partnership, we are working with the NSIA on strategic infrastructure projects such as the Second Niger Bridge, the Lagos-Ibadan Expressway and the Abuja-Kano Road, to mention a few.”

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‘‘On the private sector collaborations, we have projects such as the Presidential Fertiliser Initiative, the Presidential Artisanal Gold Mining Initiative and the NSIA Healthcare Development and Investment Company amongst others.

‘‘Although these projects and programmes have immediately created jobs from a development standpoint, the wider impact on society will only be felt in years to come.’’

Minister of Finance, Budget and National Planning Zainab Ahmed said from the base position of $1billion when the Buhari administration assumed office in 2015, NSIA now has around $3.5billion in assets under management.

She explained that the new board will oversee the NSIA management’s activities towards delivering outcomes to transform the fortunes of the country.

Ahmed said: ‘‘Using the NSIA Act as its guide, the Board will be required to superintend initiatives that meet the current and future needs of Nigerians.

‘‘On our part as government, we will continue to support the authority with the necessary policies and framework to ensure that the mission of the institution is delivered in a transparent, sustainable and inclusive manner.”

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Police rescue Adebayo Adelabu’s sister, her twin sons

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The Nigeria Police Force has rescued Mrs Olaide Busayo Adegoke John-Paul and her 12-year-old twin sons, Peter and Paul, alive during a rescue operation carried out around 7:30 p.m. on Saturday. 

According to reports, two suspected kidnappers were neutralised in a gun duel with police operatives, while two firearms were recovered from the gang.

The victims, including the younger sister of the former Minister of Power, Chief Adebayo Adelabu, were abducted around 7:30 a.m. on June 3, 2026, while on their way to drop the children at school in Ibadan, Oyo State.

Police sources disclosed that sustained intelligence tracking and tactical pressure forced the kidnappers into a confrontation with operatives, leading to the successful rescue of the victims.

The source disclosed that security operatives are still combing nearby areas for fleeing members of the kidnapping syndicate, some of whom are believed to have escaped with gunshot wounds.

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In a statement confirming her abduction, Adelabu’s media aide, Femi Awogboro, said the victims were kidnapped at about 7:30 a.m. while Mrs John-Paul was taking her children to school, leaving the family in distress.

“We are deeply distressed by this unfortunate incident but remain hopeful that the victims will be rescued safely. We appeal to the public to remain calm, avoid speculation, and support ongoing efforts with prayers,” the family’s statement read in part.

She is the youngest of five children of Mrs Olufunmilayo Aduke Adegoke Adelabu, who reportedly retired voluntarily from her career at First Bank Pension Custodian in 2025 before relocating to Ibadan with her children.

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Police debunk claim abducted schoolgirl died in captivity

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The police command in Oyo state has dismissed claim that one of the schoolchildren abducted in Ahoro-Esiele, Oriire LGA, died while in captivity.

In a statement issued on Friday, the command described the report as false, misleading and designed to incite panic among residents.

The police said neither the police nor any security agency involved in efforts to rescue the abducted pupils had confirmed such development.

“The report is false, misleading, mischievous, and without any factual basis whatsoever,” the statement reads.

The command accused the authors of the report of deliberately using unverified claims and emotional narratives to manipulate public opinion and create fear.

“It is particularly disturbing that the authors of the report deliberately employed emotional narratives, speculative claims, and unverified accounts in a calculated attempt to manipulate public opinion and generate anxiety among residents,” the statement added.

The police said ongoing rescue operations are being pursued with professionalism and confidentiality, warning that the spread of false information could undermine security efforts and inflict further trauma on affected families.

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The command cautioned bloggers, social media influencers, online content creators and media organisations against publishing unverified security-related information.

“The indiscriminate sharing of false reports, particularly those capable of inciting fear or causing public disorder, is irresponsible and unacceptable,” the statement said.

The police urged residents to disregard the report and rely only on information released through official channels of the Nigeria Police Force and other authorised government agencies.

The command reiterated its commitment to public safety and assured residents that verified updates on the incident would be communicated as necessary.

Several schoolchildren were recently abducted by gunmen in Ahoro-Esiele, Oriire LGA, prompting a coordinated rescue effort by security agencies.

The police said investigations and rescue operations remain ongoing.

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Oyo school attack: Terrorists’ four-point demand before releasing pupils, teachers

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The abductors of teachers and pupils from three schools in Oriire Local Government Area of Oyo State have reportedly made a four-point demand before they will free the captives.

According to media reports, the abductors, who attacked schools in Esinele, Yawota and Alawusa communities on May 15, are reportedly demanding the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law,  reports.

The two commanders whose release is reportedly being sought are Mahmud Usman, also known as Abu Bara’a or Abbas Mukhtar, and his deputy, Abubakar Abba, alias Isah Adam or Mahmud Al-Nigeri, also called Mallam Mamuda.

The two terrorists are leaders of Jama’atu Ansarul Muslimeena Fii Bilaadis Sudan, JAMBS, also known as Ansaru — a breakaway faction of Boko Haram — and are alleged to have aided and abetted acts of terrorism in the country between 2013 and 2015.

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The two were arrested between May and July 2025 and are currently standing trial on terrorism charges before Justice Emeka Nwite of the Federal High Court, Abuja, in a suit marked FHC/ABJ/CR/464/2025, with their trial commencing on January 15, 2026.

Usman was sentenced to 15 years in prison by Justice Emeka Nwite of the Federal High Court, Abuja, on September 11, 2025, after pleading guilty to one count of illegal mining — which he admitted he used to fund arms procurement for terrorism and kidnapping.

He denied 31 other counts and remains in DSS custody pending trial on those charges.

His deputy, Abba, pleaded not guilty to all 32 counts and is also standing trial before the same court.

Unconfirmed reports also claimed that the terrorists are demanding a ransom put at ₦1bn, which is to be paid into a bank account in the Republic of Benin.

Security analysts have warned that releasing the commanders would pose serious risks to national security.

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Meanwhile, the Oyo State Government has declined to comment on the demands or the state of negotiations, with the Commissioner for Information, Dotun Oyelade, saying it would be “unhelpful” to disclose the government’s strategy while efforts to secure the victims’ release were ongoing.

On May 17, two days after the attack, the abductors released a video showing the beheading of one of the kidnapped teachers, Michael Oyedokun, a mathematics teacher at Community High School, Ahoro-Esinele.

Governor Seyi Makinde confirmed the killing in a statement on Monday, May 18, describing it as deeply painful.

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