Education

Oyo Has Paid N5bn For LAUTECH Sole Ownership – Commissioner By Adebayo Waheed

Published

10 months ago

May 27, 2025

In full compliance with the agreement of sole ownership of the Ladoke Akintola University of Technology, LAUTECH, Ogbomoso, the Oyo State government has paid a total of ₦5 billion to the Osun State government.

The commissioner for Information, Prince Dotun Oyelade, said on Monday that the total takeover amount is ₦8 billion. With this payment, the Oyo State government has been paying ₦1 billion per year, and the full payment should be settled before the end of the Seyi Makinde administration in 2027.

He said both states struck a deal on November 20, 2020, to cede LAUTECH to Oyo State.

Oyelade said that the joint ownership of LAUTECH was acrimonious between the Governments of the two States from 2007 to 2019, when Makinde took over and, surprisingly, reached an agreement with his Osun counterpart to make Oyo the sole owner of the Institution.

“Ever since, the Institution has grown in leaps and bounds, reclaiming its position as the Best State University in Nigeria.

“The academic excellence in the wake of this development notwithstanding, LAUTECH has also expanded physically and in scope with the establishment of the LAUTECH Faculty of Agriculture and Natural Resources, Iseyin campus.’’

The commissioner revealed that last Thursday, Makinde approved the release of ₦1 billion to the Osun State government, adding that the governor also released ₦650 million as a take-off grant for the Teaching and Research Farm at the Iseyin Campus.

“The government has also commenced simultaneously, the construction of health centres and road networks at LAUTECH Iseyin campus, the Abiola Ajimobi Technical University, Ibadan and the Emmanuel Alayande University of Education, Oyo”, he said.

-Leadership

Education

NFVCB Boss Urges Stronger Distribution Channels As Coal City Film Festival 2026 Opens In Enugu

Published

6 hours ago

March 27, 2026

Olumide Ojo

The Executive Director/Chief Executive Officer of the National Film and Video Censors Board (NFVCB), Dr Shaibu Husseini, has called for stronger distribution frameworks within Nigeria’s film industry to ensure that locally produced content achieves global visibility.

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‎Dr Husseini made this call while delivering the keynote address at the opening ceremony of the 2026 edition of the Coal City Film Festival, held in Enugu.
‎Welcoming participants to the festival, Dr Husseini expressed his personal delight at hosting the event in Enugu, his birth state, noting the city’s rich cultural heritage and longstanding contributions to Nigeria’s creative landscape.
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‎He commended the festival organisers, particularly the Festival Director, Uche Agbo, for their resilience and commitment in sustaining the initiative.
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‎ According to him, the Coal City Film Festival has grown into a significant cultural platform and a must-attend cinematic event in South East Nigeria.
‎Speaking on the festival’s theme, “Local Stories, Global Screens,” Dr Husseini emphasised the importance of authenticity in storytelling. He noted that films rooted in local realities, languages, and cultural truths often resonate more strongly with global audiences.
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‎He cited notable Nigerian productions such as “King of Boys” by Kemi Adetiba, “The Wedding Party” by Mo Abudu, “Anikulapo” by Kunle Afolayan, “Black Book” by Editi Effiong, and “Lionheart” by Genevieve Nnaji as examples of culturally grounded stories that have gained international recognition on platforms such as Netflix and at global film festivals.
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‎While acknowledging the growth in film production across Nigeria, the NFVCB boss identified distribution as a major bottleneck in the industry. He observed that many high-quality films struggle to reach audiences both locally and internationally due to limited distribution channels.
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‎Dr. Husseini therefore urged film festivals across the country to evolve beyond networking platforms into active marketplaces where filmmakers can secure distribution deals. He stressed that festivals must attract distributors, exhibitors, streaming platforms, and marketers to create tangible opportunities for filmmakers.
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‎“Film festivals must become gateways to distribution where filmmakers leave not just with applause, but with real opportunities,” he said.
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‎Reaffirming the Board’s commitment to industry development, Dr. Husseini stated that the NFVCB has continued to reposition itself as a partner in progress by engaging stakeholders, improving classification processes, and promoting a balance between creative freedom and social responsibility.
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‎However, he raised concerns over increasing non-compliance with regulatory requirements, noting that some filmmakers bypass the Board by releasing unclassified films or operating without proper licensing.
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‎He reiterated that all films and video works must be submitted to the NFVCB for classification and registration before being released on any platform, including digital platforms such as YouTube.
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‎“This is a legal obligation, and the Board will not hesitate to take decisive action against defaulters,” he warned, adding that regulation is essential for protecting the industry, audiences, and national values.
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‎Looking ahead, Dr. Husseini assured stakeholders of the Board’s continued collaboration with filmmakers and festival organisers to build a structured, sustainable, and globally competitive Nigerian film industry.
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‎He concluded by commending the organisers of the Coal City Film Festival for their vision and contribution to Nigeria’s cultural economy, urging filmmakers to continue telling authentic stories that can resonate across global screens.

-Leadership

Education

ASUU Issues 4-Day Ultimatum To Federal Govt Over New Salary Structure

Published

13 hours ago

March 27, 2026

Olumide Ojo

The Academic Staff Union of Universities (ASUU) has issued a four-day ultimatum to the Federal Government, demanding the immediate implementation of a newly approved salary structure for university lecturers nationwide.

ASUU President, Christopher Piwuna, made this known on Thursday while delivering a speech at a public lecture held at Sa’adu Zungur University, Yuli Campus, in Bauchi.

According to Piwuna, the union is giving the government four days from now to commence payment under the new salary arrangement, which was previously approved following prolonged negotiations between both parties.

“We have issued a four-day ultimatum from today to the Federal Government to begin the payment of the newly approved salary structure. Failure to comply will attract a strong response from the union,” he said.

The ASUU president noted that the demand forms part of broader efforts to improve the welfare of university lecturers and address long-standing concerns about poor remuneration, which he said has contributed to brain drain and declining standards in Nigeria’s higher education sector.

He added that, despite several agreements reached with the government in the past, implementation has remained inconsistent, leading to recurring disputes and industrial action.
Observers say the latest ultimatum could heighten tensions between ASUU and the Federal Government, raising fears of another round of strikes in public universities if the demands are not met within the stipulated time frame.
ASUU has a history of embarking on nationwide strikes to press home its demands, actions that have often disrupted academic calendars and affected millions of students nationwide.

-Leadership

Business

Amid Middle East Crisis, Inflation To Hit 16% – Analysts

Published

4 days ago

March 23, 2026

Olumide Ojo

Analysts at Afrinvest West Africa have warned that Nigeria’s inflation trajectory may reverse its recent disinflation trend, with headline inflation projected to climb to about 16 per cent in the near term, driven by the ripple effects of the escalating Middle East crisis on energy and domestic prices.

This is as they stressed that without swift policy responses, rising energy costs could deepen cost-of-living pressures and erode recent gains in price stability.

This comes as the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics showed that headline inflation moderated marginally by four basis points year-on-year to 15.06 per cent in February 2026, marking the twelfth consecutive month of easing price pressures.

However, the analysts noted that the decline was weaker than expected, largely due to a resurgence in food inflation, which rose by 3.2 percentage points year-on-year to 12.1 per cent, offsetting gains in core inflation, which declined by 1.8 percentage points to 15.9 per cent.

On a month-on-month basis, inflationary pressures showed renewed volatility, with headline inflation rising by 2.0 per cent in February, a sharp reversal from the deflationary reading of negative 2.9 per cent recorded in January.

Food inflation surged to 4.7 per cent from negative 6.0 per cent, while core inflation increased moderately by 0.9 per cent from negative 1.7 per cent in the preceding month.

Afrinvest attributed the sharp swings in monthly inflation figures partly to the recent statistical smoothing exercise carried out by the NBS following the rebasing of the CPI series. The firm explained that the adjustment, which aligned inconsistencies in previously adopted base periods, is expected to stabilise inflation readings in the near term.

Despite this, analysts cautioned that underlying price pressures remain elevated, particularly from persistently high food costs and structural bottlenecks across the economy.

Looking ahead, Afrinvest highlighted that developments in the Middle East pose significant upside risks to inflation. According to the firm, crude oil prices have surged to about $105 per barrel from $72.69 at the end of February, triggering a sharp increase in domestic energy costs.

The report noted that the spike has already translated into higher retail prices of petroleum products, with petrol rising to about N1,350 per litre, diesel to N1,650 per litre, and cooking gas to N1,400 per kilogram in several states.

“These increases are expected to cascade across transportation, logistics, healthcare and food prices,” the analysts said, adding that existing structural challenges such as inadequate power supply, poor road infrastructure and insecurity could further amplify inflationary pressures.

In its baseline scenario, Afrinvest projected that the pass-through effect of the energy shock could drive headline inflation up by about 150 basis points to 16.6 per cent year-on-year, while month-on-month inflation could spike to 5.2 per cent.

The firm warned that a prolonged crisis could derail the Federal Government’s target of reducing average inflation to 16.5 per cent in 2026 from 23.3 per cent recorded in 2025.

To mitigate the impact on households, Afrinvest urged the government to implement targeted interventions, including the rollout of affordable mass transit systems, healthcare subsidies for low-income earners, and the temporary suspension of tariffs and related charges on food imports and other essential commodities.

-Leadership