Sunday

Naira bonds beat EM peers as Tinubu reforms get noticed

CC™ InsiderNews

President Bola Tinubu‘s reforms are sparking the biggest bond rally in emerging markets as the West African nation’s two-digit carry yields are backed by increasing government revenue, slowing inflation and a stable currency.

Naira-denominated bonds of Africa’s largest crude producer have extended their 2025 rally with an 8.6% total return in July, the best performance among the 23 countries in the Bloomberg EM Local Currency Government Universal Index both for the month and the year.

Since coming to power in May 2023, Tinubu has eliminated fuel subsidies weighing on the government’s budget. He followed it up with a tax overhaul, while the central bank has allowed the naira to trade more freely. The measures have helped to reduce the fiscal deficit, boost reserves and keep the current account in surplus. And investors are just beginning to back the reforms, after staying on the sidelines for most of 2024.

“The optics have been constructive this year for Nigeria,” said Matthew Reed, head of trading at the Bank of Africa UK Plc in London. “The currency has stabilized after a volatile 2024 and this removes a notable hurdle for many international accounts looking to invest in the local bond market.”

Government revenues increased 43% in the first half compared to the prior period, and recent tax changes are seen boosting revenue collections further. A rebasing that increased Nigeria’s gross domestic product by 30% has improved debt ratios and opened the room for better ratings and fresh borrowing

The lower inflation, expectation of rate cuts and a more stable naira have made Nigeria a more attractive investment case, said Joseph Cuthbertson, a sovereign analyst at PineBridge Investments in London. Nigeria is on a “positive macroeconomic trajectory following its reform efforts,” leaving local debt attractive, he said.

The July rally in naira bonds extends year-to-date gains to 26%, compared with an emerging-market average of 7.1%. That partially recoups a 40% loss suffered by investors last year.

A credit upgrade this year by Moody’s has also helped, said Patience Oniha, the head of Nigeria’s debt management office. The ratings company raised Nigeria from Caa1 to B3 citing “significant improvements in the country’s external balance and fiscal position.” That placed it on the cusp of “re-entering the broader pool of emerging markets considered investable by institutional debt investors,” Moody’s said.

Despite recent gains, Nigeria’s local bonds are “still attractive,” said Aurelie Martin, a fixed-income analyst at Ninety One. The naira has found some stability “reaping the benefits of the tough monetary and fiscal reforms of the past couple of years,” while slowing inflation will enable the central bank to cut rates supporting naira notes further.

BLOOMBERG

Saturday

Dangote Cement Announces Emmanuel Ikazoboh As New Board Chairperson

CC™ BusinessNews

By Staff

Africa’s industrial titan and founder of Dangote Cement Plc, Aliko Dangote, has stepped down as Chairman and Director of the company’s Board, effective July 25, 2025. The decision marks a strategic shift in focus as Dangote aims to devote more attention to the operations of his Refinery, Petrochemicals, Fertilizer, and Government Relations, aligning with the group’s five-year business trajectory.

In a statement issued by the Group Chief, Branding & Communications Officer, Mr. Anthony Chiejina, the company announced the appointment of Mr. Emmanuel Ikazoboh, an independent non-executive director, as the new Chairman of the Board.

In the same development, Hajiya Mariya Aliko Dangote was appointed to the Board of Directors, while Prof. Dorothy Ufot officially retired.

The company described Dangote’s departure from the board as the end of an era, celebrating his transformational role in revolutionizing Africa’s cement industry. Under his leadership, Dangote Cement grew to become Africa’s largest cement producer and the continent’s leading exporter of cement and clinker.

“Aliko Dangote’s journey began with a bold dream: to make Nigeria and Africa self-sufficient in cement production. Through strategic investments, cutting-edge technology, and a commitment to local content, he not only met that goal but exceeded it,” the statement read.

Today, Dangote Cement boasts an installed capacity of 52.0 million tonnes per annum (Mta) across Africa, with Nigeria accounting for 35.25 Mta. Ongoing greenfield projects in Côte d’Ivoire (3.0 Mta) and Itori, Nigeria (6.0 Mta), expected to be completed this year, will raise total capacity to 61.0 Mta.

The company has also achieved record-breaking financial results. According to unaudited financials for the first half of 2025, group revenue surged by 17.7 percent to N2.071 trillion from N1.76 trillion in the same period of 2024. Group EBITDA grew by 41.8 percent to N944.9 billion, while EBITDA from Nigerian operations rose by a remarkable 82.4 percent to N845.4 billion. Profit before tax increased by 149 percent to N730 billion, and profit after tax soared by 174.1 percent to N520.5 billion. During the period, Nigerian export volumes rose by 18.2 percent, including 18 clinker shipments to Ghana and Cameroon.

In his acceptance speech, Mr. Emmanuel Ikazoboh expressed deep appreciation for the trust placed in him. “I am truly honored to accept the role of Chairman of Dangote Cement Plc. This company stands as a beacon of African enterprise, demonstrating resilience, innovation, and excellence.”

Ikazoboh pledged to lead with integrity and vision, emphasizing sustainable growth, operational efficiency, and innovation. He outlined key priorities for the company, including driving cost-reduction strategies to combat inflation, transitioning to alternative energy sources, and strengthening staff development programs.

“My vision for Dangote Cement is anchored on operational excellence, strategic expansion, sustainability, innovation, and community engagement,” Ikazoboh said.

He also praised Aliko Dangote’s legacy, noting that his achievements have restored global confidence in African industrial capacity. In 2024 alone, Dangote Group subsidiaries reportedly paid over N402 billion in taxes, making it Nigeria’s highest corporate taxpayer.

With this leadership transition, Dangote Cement Plc is poised to embark on a new era, reinforcing its commitment to industrial growth, sustainability, and continental impact.

Saturday

The resounding defeat of the Fulani at Ogbomosho and the Yoruba legacy of resistance against Fulanization cloaked in religion

Ooni of Ife
CC™ HistoryVille

By Staff

This is why they stopped teaching history in Nigerian schools. Why? The Fulani hegemony has always hinged its stranglehold over Nigeria on the ability it has always had to control the Nigerian narrative, from a socio-political and historical standpoint. 

The Fulani Jihad led by Usman Dan Fodio (the terrorist progenitor of the Sokoto Caliphate) swept through the house of kingdoms like a storm, toppling kings and replacing thrones with turbans. 

Ilorin had once been a Yoruba border town under the control of the Oyo empire, but fell to the advancing Fulani cavalry of terrorists due to internal strife and betrayal by one of its own, Afonja, the then Aare Onakakanfo (Supreme Military General) of the Oyo empire. 

The Fulani Jihadists have one singular vision - To dip the Quran and the sword into the sea, a euphemism instructive of a chilling metaphor for a campaign of total domination to overrun all of Yoruba land by force of arms, to Fulanize and Islamize every town, every village and every soul that stands in their path .

It is driven by an inordinate ambition cloaked in religion but rooted in imperialism and ruthless expansionism. 

The resounding defeat of the Fulani at Ogbomosho by the combined forces of Ogbomosho and Ijaye is one of the many lessons of history that must be taught our children and generations to come. 

The Fulani (still under the cloak of religion with the Sultan of Sokoto) are masters of the long game, and must NEVER be trusted!

VIDEO CREDITS: BATTLEFIELD AFRICA

Friday

National Disgrace - How former dictator and Fulani irredentist Muhammadu Buhari died in a £4000 a day private clinic in London


Late Buhari and his cows
CC™ Politico

By Staff

The London Clinic, following the death of Nigeria’s former President, Muhammadu Buhari, has come under public scrutiny over its reputation as one of the United Kingdom’s most exclusive private hospitals.

Buhari passed away on Sunday, July 13, 2025, at the Harley Street-based hospital after reportedly suffering a relapse just hours before his anticipated discharge.

According to Buhari’s nephew, Mamman Daura, the former President was in high spirits on the eve of his death and was being prepared for discharge when his health suddenly deteriorated.

“I left him about 9 pm on Saturday in high spirits and promised to see him on Sunday afternoon. He was looking forward to his doctor’s visit on Sunday morning. But around midday, he started having breathing challenges and doctors rushed to his side to try and manage it. But unfortunately, around 4.30 pm, he gave up the ghost,” Daura stated..

Although the exact cause of death was not made public, Buhari had a history of recurring health issues. His former spokesperson, Garba Shehu, announced the death on Sunday.

“The family of the former president has announced the passing of the former President, Muhammadu Buhari, GCFR, this afternoon in a clinic in London. May Allah accept him in Aljannatul Firdaus,” Shehu said.

Details About The Hospital Where Buhari Died

Founded in 1932, The London Clinic has long been recognised as a haven for global elites seeking world-class medical care. It is situated in London’s medical district on Harley Street and has served members of the British royal family, world leaders, and affluent patients from around the globe.

The facility is best known for its expertise in cancer care, digestive health, orthopaedics, robotic surgery, and intensive care.

Its 2021 financial report revealed that the hospital sees over 120,000 patients annually and operates with more than 900 surgeons and physicians. The hospital houses 13 intensive care beds, 10 operating theatres, five Macmillan Cancer Support Centres, and offers advanced robotic surgical technology including the da Vinci Xi and Excelsius GPS systems.

The hospital’s reputation for excellence comes at a significant financial cost. UK-based Nigerian doctors familiar with the clinic revealed that consultations range from £100 to £750, CT scans cost around £500, and major surgeries start at £10,000 and can reach £13,000, depending on their complexity.

Accommodation charges are equally steep. A standard room costs between £1,000 and £1,800 per night, while luxury or VIP rooms range from £1,800 to £2,500 per night. Admission to the Intensive Care Unit can cost up to £3,500 per night.

A 2023 study by the National Institutes of Health estimated that general ward bed spaces at the hospital cost an average of £586.59 per day, excluding other potential charges tied to individual treatment plans.

Speaking to reporters, a UK-based Nigerian doctor familiar with the hospital’s operations, described it as one with advanced facilities, a high-profile clientele, and world-class medical expertise.

According to him, patients pay between £100 and £750 for consultations, depending on the complexity of their case.

The Nigerian doctor, who stated that he knew two fellow Nigerian doctors who had once worked at the hospital, mentioned that a Computed Tomography scan (CT Scan) at the hospital costs approximately £500, while major surgeries range from £10,000 to £13,000.

He said, “In terms of accommodation, the pricing structure is also tiered. A standard room goes for £1,000 to £1,800 per night. Luxury/VIP room is between £1,800 to £2,500 per night; while the Intensive Care Unit admission costs about £3,000 to £3,500 per night.

“The clinic is known for its advanced equipment, specialist services, and highly qualified professionals. It’s a facility designed for complex and high-risk cases.”

The doctor said the two respected Nigerian specialists who used to work at the hospital were an orthopedic surgeon and a respiratory consultant.

According to the female doctor, the clinic primarily caters to the super-rich, noting that patients are charged thousands of pounds daily for specialised services, particularly in intensive care and private suites, where discretion, luxury, and top-tier medical attention are guaranteed.

“It is the best and largest private clinic in the United Kingdom. It deals with surgery, robotic surgery, ENT surgery, plastic surgery, and the best in specialised services,” she said.

She added that the hospital is equipped with advanced da Vinci Xi, ExcelsiusGPS, and NAVIO robotic surgical technology, a 3 T Siemens MRI, multiple CT scanners, a PET-CT, ultrasound, digital mammography, and other cutting-edge diagnostic systems.

In terms of staffing and expertise, the doctor said, “The clinic boasts an impressive roster of professionals with renowned specialist consultants, many of whom are Fellows of the Royal College of Surgeons and hold additional high-level certifications.”

However, according to a study by the National Institutes of Health, the cost of a bed space at the general ward is around £586.59 per bed day.

“These costs may not include other potential fees or charges associated with your specific treatment plan,” the report noted.

According to the hospital’s website, its ICU boasts a Standard Mortality Rate of 0.7, one of the best in the UK, and has consistently maintained low death rates.

The hospital wrote, “Our Standard Mortality Rate averages around 0.7, which the Critical Care Peer Review states ‘would put the unit in the top 10% of the country’ and has consistently maintained low death rates, all of which are reviewed at Mortality and Morbidity Meetings within the clinic.

“Patient Experience feedback continues to demonstrate 95-100% satisfaction with their treatment across the MDT with numerous comments and compliments mentioning excellence in staff attitude, caring, compassionate, along with recognition of speciality surgical support and rehabilitation.”