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FG shops for N35bn to revive Ajaokuta Steel Complex

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The Minister of Steel Development, Shuaibu Audu, has said that Nigerian needs N35 billion funding from financial institutions to revive the comatose Ajaokuta Steel Company Limited.

This is according to a statement by the ministry’s Chief Information Officer, Tine-Iulun Maureen. He stated that the minister disclosed the loan application when he received a delegation from Stanbic IBTC Bank in Abuja.

The minister said collaboration with financial institutions was to seek the best financing options to restart the light steel mill in Ajaokuta and kick-start iron rod production. He further said that the ministry had an existing agreement with the Works Ministry to be off-takers of the rod produced as well as with the Ministry of Defence to build a military complex in Ajaokuta. He expressed the hope of huge opportunities in Ajaokuta and that potentially a lot could be achieved.

Maureen said: “It has become imperative to seek funding of about N35 billion to enable the re-start of the Light Mill Section of the Ajaokuta Steel Plant for the production of iron rod to achieve the agenda of the current administration to revive Ajaokuta in phases in accordance with its set timelines and benchmark.

“This is in furtherance of achieving its mandate of reviving the steel sector, improving industrialisation in the country, diversifying the economy, providing jobs for the teeming youths and growing the Gross Domestic Product, is collaborating with Financial Institutions, for best financing options to re-start the light Steel Mill in Ajaokuta.”

The Chief Executive Officer, Stanbic Bank, Wole Adeniyi, represented by the Head of Industrials, Debola Seriki, assured of the bank’s willingness to partner with the Ministry, while requesting further details for their consideration towards realising the project.

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Maureen in the statement also said Audu met with top management of United Bank of Africa and Voda Infrastructure Management Ltd. She said the meetings were to ensure that funds are raised for the immediate take-off of the project for sustainable development of the steel sector.

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Peter Obi mourns 17 police officers killed in Yobe deadly terror ambush

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Former Labour Party presidential candidate, Peter Obi, has expressed deep sorrow over the killing of security personnel during a recent terrorist attack on a military school in Yobe State, describing the deaths as a painful national tragedy.

In a statement issued on Saturday, Obi extended condolences to the leadership of the Nigerian Armed Forces and the Police following the reported death of 17 police officers and an unspecified number of soldiers during the attack.

“I extend my sincerest condolences to the High Command and Leadership of the Nigerian Military and the Police over the tragic loss of our courageous officers,” Obi said.

“It is with deep sadness that I acknowledge the heartbreaking death of 17 brave police officers, alongside an unspecified number of soldiers, who made the ultimate sacrifice during the recent terrorist attack on a military school in Yobe State.”

The former Anambra State governor said the nation must stand in solidarity with the military, police authorities, and the families of the slain officers.

“At this moment of profound sorrow, the entire nation stands in solidarity with the leadership of the Armed Forces, the Police, the affected commands, and the wider security community,” he stated.

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Obi stressed that the continuous loss of security personnel and innocent civilians should not be treated as routine, warning that insecurity must be confronted with urgency and sincerity.

“Every security personnel killed is a tragedy to our nation. Every fallen officer represents a family thrown into grief, children left without parents, and communities robbed of those sworn to protect them,” he said.

He called on the Federal Government to prioritise the welfare of families of fallen officers through adequate compensation and long-term support.

“The Federal Government must ensure adequate compensation, support, and long-term welfare for the families of all those who paid the supreme price in service to our nation,” Obi added.

The Labour Party chieftain further urged authorities to adopt decisive and strategic measures to tackle insecurity across the country.

“A nation cannot continue to normalise the killing of its security personnel and innocent citizens without urgent, decisive, and strategic action. We must confront insecurity with sincerity, professionalism, and the political will necessary to protect lives and restore public confidence,” he stated.

Obi also sympathised with the bereaved families, assuring them that the sacrifices of the slain officers would not be forgotten.

“To the families of the fallen heroes, I offer my deepest and most heartfelt sympathies. We mourn with you, and we honour the courage and sacrifice of your loved ones. May their souls rest in eternal peace,” he said.

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Enugu 2027: Civil society group kicks against Nnaji clearance

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A Civil society organization, The Defence for Democracy, has criticized the People’s Democratic Party (PDP) for clearing former minister of Science and Technology, Uche Geoffrey Nnaji, to contest the primaries for the forthcoming governorship elections in Enugu State despite being under investigation over alleged forged credentials.

Nnaji resigned from President Bola Ahmed Tinubu’s cabinet over allegations of forgery and is currently being investigated by relevant authorities.

In a statement issued by the National President of the organisation Dr. Emeka Nwachukwu, and made available to journalists, the organisation questioned the integrity of the entire screening and accused the party of working in favour of the ruling All Progressives Congress (APC).

The organisation said the APC will have sufficient grounds to fast-track accelerated hearing of the forgery case and eventually upturn any victory in the name of the former minister should he win.

The group stressed that “leadership must be built on trust, integrity, and credibility. The people of Enugu State deserve leaders whose records can withstand public scrutiny without fear or controversy.”

The organisation emphasized that while the allegations are not yet proven before a competent court of law, the PDP has a moral responsibility to raise the red flag on the former minister, “Because we are all in this country, and we know that in an event that this former minister wins, there will be an accelerated hearing that will hand over that victory to the APC.

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“We believe firmly that Enugu deserves honest leadership, grassroots connection, and a leader who understands the pains of the people, and there are many such people.

“From our findings there are people who represent a great future, and as an organization, we stand for good governance, and when our findings throw up people of impeccable character, we naturally step in to ensure that they excel.

“We therefore find it strange that people can move from controversy to ambition without addressing the questions hanging over their names.”

The organisation called on the aspirant to immediately clear his name before throwing himself into the race, stressing that the allegations and public reports surrounding his academic credentials are too weighty to be ignored.

The organisation called on the National Secretariat of the PDP to immediately intervene and save the party the embarrassment, stressing that “We are watching events in Enugu and other parts of the country, and we would have issued this statement to congratulate the Enugu state chapter of the party if it screened out the former minister, because there is a moral burden there which is far beyond what the courts might eventually pronounce.”

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Cubana Chief Priest loses APC House of Reps ticket

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Popular celebrity businessman Pascal Okechukwu, known as Cubana Chief Priest, has lost his bid to secure the House of Representatives ticket of the All Progressives Congress for the Orsu/Orlu/Oru East Federal Constituency of Imo State.

The socialite, who currently serves as the Imo State Coordinator of the City Boys Movement, had sought to represent the constituency in the House of Representatives.

In February this year, Cubana Chief Priest declared his entry into politics, calling for a new culture of clean, issue-based political engagement driven by Nigerian youths.

Following the outcome of the primary election, reactions flooded social media, with several users mocking his defeat and suggesting he may have underestimated the complexities and competitiveness of Nigerian politics.

Reacting to Cubana Chief Priest’s defeat, the Senior Special Assistant on Media to the Delta State Governor, Ossai Ovie Success, criticised those ridiculing him online.

“Why are people mocking Cubana Chief Priest? Not nice… it’s ok to try and try again.

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“He lost an election and so what? I am disappointed,” he posted on his Facebook page on Saturday.

Meanwhile, details of the final vote count and the candidate who emerged victorious were still being awaited at the time of filing this report Saturday evening, May 16, 2026.

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