The African Export-Import Bank (Afreximbank) and the Bank of Industry (BoI) have formalized a $75 million financing agreement to bolster local manufacturers as part of Nigeria’s Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC).
This initiative, driven by the federal government, seeks to significantly enhance domestic production of generic pharmaceuticals, vaccines, biologics, and medical devices.
The agreement was signed during the commissioning of Afreximbank’s African Medical Centre of Excellence (AMCE) in Abuja, attended by Vice President Kashim Shettima last week. At the same event, Shettima, alongside Afreximbank President Prof. Benedict Oramah, launched the African Life Sciences Foundation (AfLSF) and its associated Endowment Fund.
This fund aims to foster research and development of drugs and interventions tailored to the needs of people of African descent.
Beyond the $75 million deal with BoI, Afreximbank also entered into a 100 million Euro trade finance facility agreement with the Development Bank of the Central African States (BDEAC).
Additionally, the bank made its inaugural venture capital investment in drug development and commercialization under the Afreximbank Group and signed a terms of agreement with King’s College London (KCL) to establish a Medical and Nursing School at the AMCE in Abuja.
Vice President Shettima commended the collaboration between AMCE and King’s College Hospital, London, emphasizing its role in building a foundation for African medical specialists.
“No medical intervention can endure unless we build the systems that sustain them. We have laid the foundation for African medical specialists who will no longer be exported but empowered,” he stated.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, highlighted that the partnerships surrounding AMCE will enhance Nigeria’s foreign exchange earnings and curb the emigration of skilled medical professionals trained in Nigeria.
He noted that this will strengthen the economy and provide comprehensive medical care for patients.
Brian Deaver, CEO of the African Medical Centre of Excellence (AMCE), affirmed that the facility will set a new benchmark for healthcare quality.
“We thank Afreximbank not only for financing this transformative project but for believing that Africa deserves not just good, but great healthcare,” he said.
Niger State Governor, Mohammed Bago, has pledged N1 billion to support victims of the recent flooding in Mokwa.
The announcement was made during his visit to the affected local government area on Monday, where he conducted an on-the-spot assessment of the damage caused by the flood.
Expressing sympathy for the residents, Bago emphasized the importance of avoiding waterways to prevent loss of life and property in future incidents.
He assured the community that all financial and material contributions from the Federal Government, generous individuals, government agencies, and donor organizations would be used appropriately.
“The Niger State government is donating N1bn to the victims of the flood disaster”.
“All the cash and material donated by the Federal Government, kind-spirited individuals, government agencies as well as donor agencies will be utilised for the purpose it was meant for,” he stated.
Bago commended those who have provided significant support to the flood victims and promised that the government would work to resettle those impacted, whether directly or indirectly.
He also urged Islamic teachers in the area to keep proper records of their pupils and to track any who go missing.
Hakeem Amode, the spokesperson for the Lagos State chapter of the Peoples Democratic Party (PDP), has officially left the party to join the ruling All Progressives Congress (APC).
Amode made the announcement alongside other PDP leaders during a press briefing held on Monday in Ikeja, Lagos.
He explained that their decision to defect was largely influenced by the leadership qualities of Abdul-Azeez Adediran, the PDP’s 2023 gubernatorial candidate in Lagos, who had previously joined the APC.
“It is with great honour and a profound sense of responsibility that we stand before you today to announce a pivotal decision; one that marks a significant turning point not just for us as individuals, but for many committed political stakeholders who have journeyed with us over the years.
“Today, we have decided to collapse the entire PDP structure in Lagos State, from ward to the state level, to align with His Excellency Jandor to decamp en masse to the APC.
“The PDP, both at the national and state levels, has lost its way.
“The party has deviated from the founding ideals that once made it the largest and most respected political platform in Africa.
“Today, its future is riddled with tension and uncertainty.
“The PDP is in a coma and may not survive unless urgent measures are taken,” Amode stated.
He noted that their time in the PDP had been long and filled with both accomplishments and difficulties.
According to Amode, many of the defectors had served in various roles within the party, working hard to bring about change and serve the PDP to the best of their ability.
He added, “However, after thorough introspection and extensive consultation, we believe it is time to chart a new course.
“This decision has not been made lightly.
“It reflects our commitment to taking control of our political destinies in order to better serve our people and the loyal supporters who continue to stand by us.”
Amode criticized the current state of the PDP in Lagos, saying the party under Philip Aivoji’s leadership is fragmented and disorganized.
“Poor leadership and a lack of cohesion have cost us dearly.
“Today, we, alongside several former PDP candidates at various levels, national, local government executives, ward leaders, and key stakeholders across Lagos, formally resign from the PDP and align ourselves with the APC.
“We have submitted our letters of resignation to our respective ward chairmen, local government chairmen, and the state leadership of the PDP,” he stated.
He emphasized that the defection was not out of personal ambition but from a desire to contribute meaningfully to society.
“We are determined to work with our new partners in the APC to deliver the true dividends of democracy to every corner of our great state,” Amode added.
Safurat Abdulkareem, a former PDP deputy governorship candidate who ran twice, stated that the defectors are committed to joining the progressives in working towards a better Lagos.
In his remarks, Chief Ola Apena, a former Deputy Chairman of the state PDP, asserted that the party no longer holds significance in Lagos.
“The PDP is dead. There is no more PDP.
“The party is in complete limbo and we don’t know whether it will be up,” he said.
Representing PDP’s 2023 House of Assembly candidates, Ibrahim Balogun, who contested in Kosofe, expressed regret over his prolonged stay in the party.
“We will work for Tinubu in 2027. We are going en masse into the APC.
“Jandor is a visionary leader to follow because he is a man of the people,” Balogun said.
Jandor congratulated the defectors, celebrating the full integration of the PDP structure into the APC.
“We have successfully collapsed the entire structure of the PDP into the APC now.
“There is no point in belonging to a political party that has no determination and purpose of winning elections. The PDP is a social club, not interested in winning.
“Lagos State PDP leadership is ensuring that the party does not win and the party had been doing this for over two decades now, wasting people’s destiny.
“I congratulate these PDP leaders for joining me in the APC.
“The PDP is a sinking ship. In Nigeria of today, there is no other viable platform apart from the APC,” Adediran said.
Among the notable defectors were Prince Rufus Adeniyi, former Assistant State Organising Secretary (Lagos West), and Mr. Jerry Afemikhe (Olori Odo), a former PDP candidate for the House of Representatives in Surulere Constituency I.
Other 2023 Lagos PDP House of Assembly candidates who left the party include Keshinro Abiodun (Epe 1), Akeem Jinadu (Eti-Osa 1), Ibrahim Balogun (Kosofe 2), Taofeek Obanikoro (Lagos Island 1), Tunde Pratt (Lagos Mainland 2), Saheed Aregbesola (Oshodi-Isolo 2), Sulaimon Thompson (Surulere 1), and Taofeek Kuye (Ajeromi-Ifelodun 1).
Also among those who joined the APC were Adeyemi Kazeem, former PDP Chairman in Ojo Local Government and Pastor Gbenga Ogunleye, former media aide to the 2023 Lagos PDP governorship candidate.
When you hear Nigerian festival, your mind probably jumps straight to Ojude Oba. And why not?
With its jaw-dropping outfits, graceful parades, and deep cultural roots in Ijebu-Ode, it’s one of Nigeria’s most iconic celebrations. But let’s be honest, Nigeria is way too culturally rich for just one festival to carry all the shine.
In fact, across the country, there are dozens of festivals that are just as vibrant, meaningful, and goosebump-inducing as Ojude Oba — yet most people don’t know they exist.
Whether you’re planning your next cultural trip, looking for new reasons to celebrate, or just trying to feel more connected to the soul of Nigeria, this list is your invitation.
Here are some amazing Nigerian festivals that deserve just as much spotlight each one offering a special experience you’ll want to witness at least once.
Ojude Oba — Where Royalty Meets Runway
Let’s start with the most famous. Ojude Oba, held annually in Ijebu-Ode, Ogun State, is not just a festival — it’s a fashion statement, a cultural reunion, and a royal celebration all rolled into one. Held two days after Eid-el-Kabir, the festival features different age-grade groups (called Regberegbe) showing off coordinated outfits in grand parades before the Awujale, the revered king of Ijebuland.
But beyond the style and glamour is a deeper theme: community pride, unity, and a celebration of the enduring bond between the people and their monarch.
Ofala Festival — When a King Steps Out
Moving eastward, the Ofala Festival in Onitsha, Anambra State, is the kind of event that gives you goosebumps, especially during its most anticipated moment: the public appearance of the Obi of Onitsha.
After days in seclusion and spiritual reflection, the king steps out in dazzling traditional regalia to the thunder of cannon blasts and the rhythm of traditional drummers. That moment? Pure magic. The entire festival celebrates kingship, renewal, and Igbo heritage with a level of pageantry that’s truly unforgettable.
Durbar Festival — Royal Horses and Warrior Pride
If you ever find yourself in northern Nigeria during Eid-el-Fitr or Eid-el-Kabir, make your way to Kano, Zaria, or Katsina for the Durbar Festival — a display of regal horsemanship that could rival any royal parade in the world.
What makes it so unforgettable is the sight of hundreds of horsemen, dressed in richly embroidered robes, galloping in formation as they pay homage to the Emir. It’s intense, it’s colorful, and it’s a living piece of Hausa history brought to life with each hoofbeat.
Igue Festival — Blessings from the Benin Kingdom
Now let’s talk about royalty — Edo-style. The Igue Festival, held in Benin City every December, is about blessing the land, the people, and the kingdom at large.
At the heart of this festival is the Oba of Benin, who performs traditional rituals for protection and prosperity. There’s drumming, dancing, and a spiritual aura in the air that connects ancient Benin traditions with modern-day life. You walk away from Igue feeling like you’ve just touched something ancient and sacred.
Eyo Festival — Lagos, But Make It Mystical
Imagine Lagos Island taken over by hundreds of white-clad masqueraders, each wearing a wide-brimmed hat and holding a staff, moving in silent procession. That’s the Eyo Festival, a Yoruba masquerade celebration that’s unique to Lagos.
Though it’s not held annually — it often honors the death of a king or notable figure — when it happens, it completely transforms the city. And while tourists may mistake it for a carnival, Eyo is actually a deeply spiritual event rooted in honoring ancestors and cleansing the land. It’s solemn, mysterious, and deeply Lagos.
Argungu Fishing Festival — The Wildest Fishing Contest You’ll Ever See
If you’re looking for action, head to Kebbi State in March for the Argungu Fishing Festival. Picture this: thousands of men jumping into a river with giant fishing nets, racing to catch the biggest fish in under one hour. Yes, it’s as wild as it sounds.
But it’s not all about the fish. There are boat races, cultural performances, and traditional wrestling matches that showcase the strength and unity of the northern communities. Argungu is a celebration of river culture, bravery, and ancient fishing techniques passed down for generations.
From rivers to palaces, Lagos to Kogi to Anambra, Nigeria’s festivals are more than just parties they’re living traditions, each telling a story of identity, resilience, and celebration. While Ojude Oba might be the most Instagrammed, it’s far from the only cultural gem we have.
So next time you’re planning a holiday or just scrolling through your feed, remember: there’s always a festival happening somewhere in Nigeria and it might just change how you see this country.
The Securities and Exchange Commission (SEC) has issued a warning to Nigerians against investing in Punisher Coin, also known as $PUN, a cryptocurrency deemed unauthorized and lacking regulatory approval. In a statement released on Sunday in Lagos, the SEC highlighted that the coin’s presale resembles a Ponzi scheme and its promoters are not registered to operate within Nigeria’s capital market.
The SEC stated, “Our attention has been drawn to online promotions of an unauthorised presale for a cryptocurrency called PUNISHER COIN, also known as $PUN. Of particular concern is an article by Daily Trust E-Paper titled: ‘Cryptos to Buy: Why Punisher Coin Could Join Avalanche and Chainlink.’”
The Commission clarified that neither Punisher Coin nor its promoters are registered or authorized to promote, launch, trade, or solicit investments from the Nigerian public. Initial investigations reveal that $PUN is a ‘meme coin,’ a type of digital asset typically lacking practical utility or a substantive project to support it.
Further findings confirm that $PUN, as a meme coin, generally lacks real-world value, purpose, or technical foundation. The value of such coins is often driven by hype, social media trends, or promotional efforts by their creators and community, making them susceptible to ‘pump and dump’ schemes. In these fraudulent tactics, promoters create false hype to drive buying pressure, then sell their holdings at the peak, causing the coin’s value to crash and leaving investors with significant losses.
The SEC emphasized that the value of such coins relies heavily on manipulation rather than substance, with price fluctuations fueled by excitement and misleading claims. The public is strongly cautioned against participating in the presale of Punisher Coin, as any investment is at the investor’s own risk.
The Commission advises investors to verify the legitimacy of any digital asset, its promoters, and platforms before investing. Verification can be conducted through the SEC’s official portal: https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators/
Rwanda announced its withdrawal from the Economic Community of Central African States (ECCAS), citing repeated violations of its rights as a member and the regional bloc’s failure to adhere to its own foundational principles.
The country was supposed to assume the chairmanship role of the ECCAS, which rotates among its 11 members.
Rwanda said this move was intended to “impose DR Congo’s diktat,” suggesting that DR Congo, with backing from some member states, is manipulating ECCAS mechanisms for its own political agenda.
Rwanda said it had previously raised concerns with the African Union over what it describes as repeated violations of ECCAS protocols.
Rwanda has been accused of supporting the M23 rebels in the east of the DR Congo. The group has made major advances at the beginning of the year, taking the key regional cities of Goma and Bukavu.
Multiple explosions and fires broke out aboard a Singapore-flagged cargo ship en route to Mumbai on Monday, forcing several crew members to leap into the Arabian Sea and causing 40 containers to fall overboard, officials confirmed.
The vessel, WAN HAI 503, encountered the emergency approximately 144 kilometers (90 miles) off the coast of Kerala, according to Shekhar Kuriakose, Secretary of the state’s Disaster Management Authority.
“Preliminary reports indicate that there were 22 crew members on board. Eighteen of them jumped into the sea and are currently aboard rescue boats. Efforts are ongoing to bring them to safety,” Kuriakose said, noting that while the situation remains critical, the ship is not currently sinking.
Dramatic images and footage released by the Indian Coast Guard on X (formerly Twitter) showed dense black smoke billowing from the ship, with several containers visibly damaged and scattered near the source of the blaze.
“The vessel is currently on fire and adrift,” stated a public relations officer from the Ministry of Defence on X.
Authorities have yet to disclose the type of cargo the ship was carrying or the cause of the explosions.
This incident comes just weeks after another container vessel sank off the coast of Kerala, spilling around 100 containers into the Arabian Sea. However, the Directorate General of Shipping reported on Friday that no oil pollution was detected in that earlier event.
The catastrophic floods that struck Mokwa, Niger State, on May 29, 2025, have claimed at least 230 lives, with over 500 people still missing, according to the Niger State Emergency Management Agency (NSEMA). Described as the worst flooding in the region in 60 years, the disaster has displaced over 3,000 residents, destroyed over 260 homes, and washed away critical infrastructure, including the Mokwa Bridge, a vital link between Nigeria’s north and southwest.
Triggered by intense pre-dawn rainfall, the floods overwhelmed Mokwa’s inadequate drainage systems, flattening neighborhoods like Tiffin Maza and Anguwan Hausawa.
NSEMA reports 121 injured and heightened risks of disease outbreaks due to unrecovered bodies swept into the Niger River. Local resident Adamu Yusuf recounted , “I watched helplessly as water washed away my family,” losing his wife and newborn.
Recent updates highlight dire conditions in relief camps, with displaced residents decrying insufficient aid, including a lack of clean water, toilets, and adequate food beyond bread and soft drinks.
One resident, who lost 14 family members, lamented, “I have no one now.”
The Niger State governor has initiated demolitions in flood-prone areas to improve drainage systems. The Federal Government, attributing the disaster to climate change and unregulated construction, has faced criticism for inadequate preparedness despite NiMet’s flood warnings. Vice President Kashim Shettima visited Mokwa to console victims, and an NGO is collating data for better relief distribution.
Reports confirm that Niger State is burying 153 victims, with two more bodies recently recovered, raising concerns about disease outbreaks.
The Commissioner for Humanitarian Affairs, Ahmad Suleiman, confirmed over 200 corpses recovered, emphasizing the scale of the tragedy.
President Bola Tinubu has ordered urgent repairs to the Mokwa Bridge to restore connectivity, with the Federal Ministry of Works tasked to act swiftly.
Experts note that climate change, poor drainage, and a blocked tributary of the River Dingi exacerbated the flooding, despite no water release from Kainji or Jebba dams.
Relief efforts continue, with Senator Sani Musa donating ₦50 million and food supplies, and UNICEF providing healthcare support, particularly for pregnant women. However, locals like Jibril Muregi, Mokwa’s local government chairman, stress that long-overdue flood-control infrastructure is critical to prevent future disasters.
As Mokwa grapples with loss and trauma, the nation watches a community in mourning, urging swift action to rebuild and protect against Nigeria’s worsening climate-driven floods.
The Lagos State Government has announced that the travel time on the Lagos Blue Rail Line from Marina to Mile 2, currently 18 minutes, will be reduced to approximately nine to 10 minutes, with a lower fare.
Governor Babajide Sanwo-Olu made this statement during the handover of three newly imported trains, each with 12 coaches, to the Lagos Metropolitan Area Transport Authority (LAMATA).
Sanwo-Olu explained that the deployment of these new coaches will significantly enhance the Blue Rail Line’s efficiency, cutting journey times by about 50%. He also noted that LAMATA will increase the number of daily trips to accommodate more passengers.
“We are doubling the capacity that we already have on the blue rail line, and as a result, there will be a reduction in journey time, aside from that, it will be reliable and predictable. If it takes about 20 minutes to complete the journey, now it is about 10 minutes, which is what is desirable for any intra-city train,” he said.
Expressing gratitude to President Bola Tinubu for financial support in acquiring the new coaches, Sanwo-Olu highlighted that the trains will offer a faster and more efficient alternative to buses.
He also revealed that another set of larger, more advanced coaches for the Red Rail Line will arrive before the year’s end. The governor invited journalists to witness the installation of the new trains and urged LAMATA and the Chinese Construction Engineering Company (CCEC) to ensure that the process does not disrupt ongoing train operations.
In a separate development, the Nigerian Railway Corporation (NRC) announced additional special train services on its major standard gauge routes—Lagos-Ibadan and Abuja-Kaduna—for today and tomorrow. NRC Managing Director Dr. Kayode Opeifa, in a statement issued by Acting Deputy Director of Public Relations Callistus Unyimadu, explained that the extension responds to high passenger demand during previous special services for Eid-el-Kabir.
The NRC advised passengers to arrive early for security screenings and boarding, as departures will adhere strictly to schedules, and encouraged completing online bookings in advance.
The 2025 edition of the Ojude Oba Festival has once again captivated the attention of Nigerians and the rest of the world, attracting thousands to Ijebu-Ode in Ogun State and millions more online.
As one of Nigeria’s most spectacular cultural events, the festival is not just a vibrant celebration of Yoruba heritage, but also a link between history, faith, fashion, and community pride.
Here are five things you should know about this incredible celebration:
1. A Rich History Rooted in Religious Tolerance
The Ojude Oba Festival, which means “The King’s Forecourt,” dates back to the late nineteenth century, making it more than a century old.
Its origins can be traced back to the early introduction of Islam among the Ijebu people, when Muslim converts led by Imam Tunwatoba paid a visit to Awujale Ademuyewo Afidipotemole to express their gratitude for religious freedom.
Prior to this, the main festival was the Odeda Festival, which focused on traditional religious traditions.
As Islam gained influence, converts such as the affluent Chief Kuku were no longer able to partake in Odeda. To honor the Awujale following the Eid-el-Kabir celebration, they founded Ojude Oba, a venue for demonstrating loyalty to the king while honoring faith and culture.
This show of mutual respect between the king and religion resulted in one of Nigeria’s major cultural events.
2. The Modern Meaning: More Than a Gathering
Though the festival’s roots are Islamic, Ojude Oba today transcends religion. It is now an all-inclusive cultural showcase welcoming Christians, traditional worshippers, and visitors from around the world.
The event symbolizes Ijebu identity, unity, and pride, blending fashion, tradition, music, and pageantry. Participants don stunning attires like Aso Oke, Sanyan, and Adire, making the festival a highlight of African fashion and craftsmanship.
3. The Spectacle of the ‘Regbe Regbe’ Age Grades
The Regbe Regbe procession, which has age-grade groups representing several generations of the Ijebu people, is perhaps the most intriguing aspect of the celebration. Each group, with names like Obafuwaji, Bobagbimo, Bobakeye, Gbobalaye, and Gbobaniyi, displays meticulously coordinated outfits and performances, competing to win admiration, glory, and sometimes cash prizes from sponsors.
These social clubs are more than for show, they are essential to Ijebu social structure, fostering community service, development projects, and social bonding across generations. In 2024, over 90 such groups participated, and the 2025 edition maintained this impressive scale.
4. The 2025 Edition: A Global Affair
The 2025 Ojude Oba Festival, held on Sunday, June 8, at the Awujale Pavilion in Ijebu-Ode, was nothing short of spectacular, possibly the grandest in recent memory. Under the theme “Celebrating Our Roots, Preserving Our Future,” the festival not only celebrated the rich cultural heritage of the Ijebu people but also subtly echoed the ongoing call for the creation of Ijebu State, with Ijebu-Ode as its proposed capital.
According to the festival’s coordinator, Fassy Yusuf, an estimated 100 million people attended in person or via live streaming at the Utoro Centre, giving the event an unprecedented global reach. The festival drew a wide range of attendees, including Nigerians in the diaspora, fashion lovers, cultural historians, and tourists wanting to experience the grandeur of Yoruba tradition.
Attendees were delighted by signature highlights such as colorful Regbe Regbe parades, regal horse displays, and thrilling cultural performances. Security was visibly tight, with various agencies protecting the safety of the large throng.
The attendance of high-profile guests, including Hannatu Musawa, Nigeria’s Minister of Arts, Culture, and Creative Economy, who grabbed notice with her colorful festival outfit, bolstered the event’s growing national and worldwide image.
Social media further amplified the festival’s global profile, with viral moments such as a photographer’s unexpected encounter with an aggressive cow sparking widespread online engagement. Corporate sponsors, influencers, government officials, and culture advocates were also actively present, boosting the festival’s prospects for UNESCO heritage recognition, as proposed by Nigeria’s Ministry of Culture.
5. Economic, Social, and Cultural Impact
Beyond the glamour, Ojude Oba drives significant economic growth for Ogun State. Local businesses: hotels, artisans, fashion designers, food vendors, and transport services, reap huge benefits during the festival season. The event has become a magnet for social media content creators, fashion houses, photographers, and even global brands like Globacom Nigeria.
Moreover, the festival enhances cultural diplomacy, projecting Nigeria’s soft power and showcasing Yoruba cultural wealth to the world. The parade of the Balogun families on horseback remains a centerpiece, linking modern-day Ijebuland with its royal and warrior past.
The Ojude Oba Festival is more than a local event; it’s a cultural phenomenon that combines history, faith, fashion, economic opportunity, and global visibility. With each passing year, including the spectacular 2025 edition, Ojude Oba continues to evolve as a symbol of unity, pride, and rich Yoruba tradition on the world stage.
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