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Shaken But Not Stirred…Oyetola Wins the Battle for Osun State
By Eric Elezuo
All is well that ends well happens to be the saying on the lips of every All Progressives Congress (APC) member in Osun State and the federation as a whole as Alhaji Isiaka Adegboyega Oyetola beat all odds to return as the Governor, putting to rest a long drawn battle for the soul of Osun State.
After a spirited electoral effort characterized by accusations and counter accusations, Oyetola, who has hitherto remained an unknown name in the Nigerian political landscape, suddenly emerged the newest political muscle in the politics of Osun State, the All Progressives Congress (APC), the South West, and to a considerable extent, the country. He was the Chief of Staff to the former Governor of Osun State, Ogbeni Rauf Aregbesola before destiny, providence and luck smiled on him, trans-mutating him to the state chief executive status.
Before now, Oyetola has operated behind the scene, never stood for any election but performed his duties with all diligence prompting the commendation and recommendation of his boss, who rewarded him with the opportunity to stand for the gubernatorial election both at the primaries level, and consequently on the state level where he eventually emerged winner.
The victory of Oyetola with 255, 505 votes over his closest challenger with 255, 023 did not come cheap, having had to ward off a strong challenge led by the candidate of the Peoples Democratic Party (PDP), Ademola Adeleke. He was deemed to have lost as he trailed by about 400 votes after the main day election on Saturday, September 22, 2018. He was however, rescued by supplementary election held five days later which made him coast home to victory.
As a result, the 64 year old public servant superimposed over the Osun State Aregbesola left behind.
However, the candidate of the Peoples Democratic Party (PDP), Mr. Ademola Adeleke, rejected the election and its results as a charade and a coup against Osun residents, and swore to go the whole length to retrieve his mandate in court. Based on the controversy surrounding the eventual overcome of the elections, stakeholders in the political and legal platforms believed he stood a chance, though the last time the Supreme Court overturned governorship elections result was in 2010, incidentally in favour of a former Osun State governor, Aregbesola. Though Adeleke started on a good note, rattling his rival by winning at the Tribunal, however, judgments from the Appeal Court, and finally at the Supreme Court gave victory to the APC candidate, Gboyega Oyetola.
Formerly a kingmaker, now a king himself, Oyetola, who reportedly is Asiwaju Bola Tinubu’s cousin, has a vast experience as a long time accounting and brokerage executive in the private sector.
Smarting from an election which many believed was manipulated to his credit, though independent National Electoral Commission (INEC) and the Police denied complicity, and the courts have now validated, Oyetola, who had been managing to stand tall and surmount the yearning challenges that come with being the chief executive officer of a state, especially a controversial state of Osun calibre, which allegedly is known for tilting towards Islamic tendencies and inclinations. Today, the frustrations of expectation have come to an end, and now, the governor can concentrate to give the people of Osun State the best of governance.
Not only that, staring him straight in the face is the debt profile of the state which runs into hundreds of millions of naira; a situation that prompted either none payment of staff salaries or deduction in percentage of payments. How he reconcile the payment of staff which his processor is known to have mishandled, will either endear him to the hearts of many or turn him to an overnight villain. It has not been forgotten though that he is a part of the immediate past administration, as well as part of their mess up or glory depending on the side of the divide one is, or rather the way one looks at it.
As nothing is a distraction for Oyetola now, he will need to turn around the state’s IGR in an environment populated by civil servants with little or no production capacity, and is still in the business of paying accumulated debts.
It was reported that at some point in 2016, the state earned nothing in federal allocation as creditors were paid from source to offset due loans. As at May 2018, the state’s debt profile was over N170 billion. But the opposition has put the debt to over N200 billion with a timeline of 20 years to pay off. That’s the herculean task Oyetola is face with.
The Governor was born on April 25, 1956, in Iragbiji, Boripe Local Government Area, and attended Ifeoluwa Grammar School in Osogbo, where he finished in 1972.
In 1978, he graduated from the University of Lagos with a degree in insurance. He obtained a master’s degree in business administration in 1990 from the same institution. His national youth service was in Potiskum between 1978 and 1979. Apart from degrees from the University of Lagos, he is also an Associate of the Chartered Institute, London and Nigeria, and a Member, Nigerian Institute of Management.
He started his professional career with Leadway Assurance Company Limited as an Area Manager in 1980, and spent seven years with the outfit before joining Crusader Insurance Company Limited in 1987 as an Underwriting Executive. He left Crusader in 1990, and joined Corporate Alliance Insurance as Controller Technical. At a stage, he set up his own firm, Silvertrust Insurance Brokers, and has been on the board of many firms ever since
Oyetola was the Executive Vice Chairman of Paragon Group of Companies with interest in Oil and Gas, Real Estate, Stock Broking and many more until his appointment as the Chief of Staff to the Governor of the State of Osun in 2011. He is married with children.
Close to one year may have been used in litigation matters, but the technocrat governor still have a lot of time to redeem himself, his party and his former boss, and give the people of Osun reasons to retain him for another term come 2022.
It is now completely irrelevant whether the elections and the results were manipulated as the Supreme Court; the highest court in the land, has spoken. Oyetola must now squarely face the business of all inclusive governance.
The General Council of the World Trade Organization (WTO) has agreed by consensus to reappoint Dr. Ngozi Okonjo-Iweala as Director-General for a second four-year term, set to begin on 1 September 2025. This decision reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO.
The reappointment process, initiated on 8 October 2024, was overseen by Ambassador Petter Ølberg of Norway, Chair of the General Council. With no additional nominations submitted by the 8 November deadline, Dr. Okonjo-Iweala stood as the sole candidate. The process was conducted in a fully open and transparent manner, adhering to the WTO’s “Procedures for the Appointment of Directors-General” (WT/L/509).
During a special General Council meeting on 28-29 November 2024, Dr. Okonjo-Iweala outlined her forward-looking vision for the WTO. Following her presentation and a Q&A session with members, the Council formally endorsed her reappointment by consensus.
Ambassador Ølberg praised her achievements, stating:
“The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization. Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.”
He continued:
“As we look ahead, the Council fully supports Dr. Okonjo-Iweala’s commitment to ensuring that the WTO remains responsive, inclusive, and results-driven. Her leadership will be critical as the organization continues to advance a resilient, rules-based, and equitable global trading system.”
Background
Dr. Ngozi Okonjo-Iweala first assumed office as Director-General on 1 March 2021, becoming the first woman and first African to lead the WTO. Her first term concludes on 31 August 2025. Her reappointment highlights the strong support for her efforts to enhance the WTO’s relevance and capacity in addressing the evolving challenges of global trade.
Source: wto.org
The Federal Capital Territory Administration (FCTA), on Thursday, published a list of 9, 532 alleged land title debtors in Abuja, giving them a two-week ultimatum to settle their outstanding bills.
The list, which includes prominent individuals and government agencies, was published on November 26, with defaulters expected to pay for their certificate of occupancy (C-of- O) within the stipulated timeframe.
Among those listed as defaulters is former Head of State, Ibrahim Badamosi Babangida (IBB), who owes N152 million for a plot of land in Asokoro, a highbrow area in the nation’s capital. IBB, who ruled Nigeria from 1985 to 1993, is not the only high-profile individual on the list.
Other notable defaulters include Samuel Ortom, former governor of Benue, who owes N950,000 for a plot of land in Bazango, and Aminu Tambuwal, senator representing Sokoto south, who owes N18 million for a plot of land in Carraway Dallas.
The FCTA has threatened to revoke the land titles of defaulters who fail to settle their bills within the stipulated timeframe. The administration has urged defaulters to settle their bills by e-payment to the “FCT department of land administration” account.
In addition to individual defaulters, some federal agencies, including the Nigerian Financial Intelligence Unit (NFIU), the navy, and police, were also named as defaulters.
The Lagos governor’s lodge in Asokoro, the Kaduna state government, and ‘State House Abuja’ were also listed as land title debtors.
This development is not the first time the FCTA has taken steps to recover outstanding debts from landowners. In June this year, the administration set up a committee to recover over N29 billion owed by property owners.
The committee has since identified 430 individuals and organisations as defaulters, with plans to prosecute them.
The FCTA has also partnered with anti-graft agencies, including the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to check the activities of land grabbers in the territory.
The Senate has granted approval to the ₦1.77 trillion ($2.2b) loan request of President Bola Tinubu after a voice vote in favor of the request.
The Senate presided by Deputy Senate President, Barau Jibrin, approved the loan after the Senate Committee on Local and Foreign Debts chaired by Senator Wammako Magatarkada (APC, Sokoto North) presented the report of the committee.
The request which was submitted by the President on Tuesday is part of a fresh external borrowing plan to partially finance the N9.7 trillion budget deficit for the 2024 fiscal year.
Tinubu had on Tuesday written to the National Assembly, seeking approval of a fresh N1.767 trillion, the equivalent of $2.209 billion as a new external borrowing plan in the 2024 Appropriation Act.
The fresh loan is expected to stretch the amount spent on debt servicing by the Federal Government. The Central Bank of Nigeria recently said that it cost the Federal Government $3.58 billion to service foreign debt in the first nine months of 2024.
The CBN report on international payment statistics showed that the amount represents a 39.77 per cent increase from the $2.56bn spent during the same period in 2023.
According to the report, while the highest monthly debt servicing payment in 2024 occurred in May, amounting to $854.37m, the highest monthly expenditure in 2023 was $641.70m, recorded in July.
The trend in foreign debt servicing by the CBN highlights the rising cost of debt obligations by Nigeria.
Further breakdown of international debt figures showed that in January 2024, debt servicing costs surged by 398.89 per cent, rising to $560.52m from $112.35m in January 2023. February, however, saw a slight decline of 1.84 per cent, with payments reducing from $288.54m in 2023 to $283.22m in 2024.
March recorded a 31.04 per cent drop in payments, falling to $276.17m from $400.47m in the same period last year. April saw a significant rise of 131.77 per cent, with $215.20m paid in 2024 compared to $92.85m in 2023.
The highest debt servicing payment occurred in May 2024, when $854.37m was spent, reflecting a 286.52 per cent increase compared to $221.05m in May 2023. June, on the other hand, saw a 6.51 per cent decline, with $50.82m paid in 2024, down from $54.36m in 2023.
July 2024 recorded a 15.48 per cent reduction, with payments dropping to $542.50m from $641.70m in July 2023. In August, there was another decline of 9.69 per cent, as $279.95m was paid compared to $309.96m in 2023. However, September 2024 saw a 17.49 per cent increase, with payments rising to $515.81m from $439.06m in the same month last year.
Given rising exchange rates, the data raises concerns about the growing pressure of Nigeria’s foreign debt obligations.
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