News
Speaker, Lagos State House of Assembly, Hon. Obasa set to pass new property, business ownership laws
Speaker of the Lagos State House of Assembly, Hon. Mudashiru Obasa said the state parliament will pass new property, and business ownership laws in the state.
Obasa made this known in his acceptance speech as a third-term speaker of the Lagos parliament and the inauguration of the 10th Lagos assembly on Tuesday.
Recall that many residents of Lagos were allegedly divided along ethno-political and religious lines during the last 2023 general elections.
In the presidential and governorship elections, particularly, many Igbos supported the presidential candidate of the Labour Party, Peter Obi and Gbadebo Rhodes-Vivour of the LP for the state governorship election respectively.
But, this development met with reactions after the presidential candidate of the ruling All Progressives Congress, APC, Asiwaju Bola Tinubu lost to Obi Lagos on February 25.
Speaking during the Lagos parliament inauguration, Obasa said, “There would be laws…in the areas of economy and commerce, property and titles, and we will reverse all that is reversible to protect the interest of the indigenes.”
“Lagos is a Yoruba land as against the assertions of some people that it is a no man’s land.
“Therefore, part of our legislative agenda is to ensure the translation of laws passed by this House to the Yoruba language,” he added.
According to the speaker, the new land and property laws only favour indigenes.
He said, “We also aim at achieving our collective goals of creating a robust legislative framework that protects the interest of our people. Going forward in this wise, we are going to employ all legislative instruments for the support of the indigenes of Lagos.
“There would be laws and resolutions in the areas of economy and commerce, property and titles, and we will reverse all that is reversible to protect the interest of the indigenes.”
International
JUST IN: Trump Sacks US Ambassador To Nigeria, Others
The Trump administration has recalled the United States Ambassador to Nigeria, Richard M. Mills Jr., as part of a broader shake-up involving nearly 30 career diplomats serving in ambassadorial and senior embassy posts around the world.
Mills, who assumed his post in Nigeria in July 2024 during the Biden administration, is among the affected envoys who received notices last week that their tenures will end in January 2026. The move aligns with efforts to ensure U.S. diplomatic representatives fully support President Donald Trump’s “America First” foreign policy priorities.
Africa has been the most impacted region, with ambassadors recalled from 13 countries: Burundi, Cameroon, Cape Verde, Gabon, Côte d’Ivoire, Madagascar, Mauritius, Niger, Nigeria, Rwanda, Senegal, Somalia, and Uganda. Other affected regions include Asia (six countries, including the Philippines and Vietnam), Europe (four countries), the Middle East (two countries), and additional posts in South Asia and the Western Hemisphere.
Many of these diplomats were appointed under the previous Biden administration and had initially survived an earlier wave of changes that primarily targeted political appointees. Ambassadors serve at the pleasure of the president and typically hold posts for three to four years, though the administration described the recalls as a “standard process” for any new presidency.
A State Department spokesperson defended the decision, stating: “An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda.”
The recalls, first reported by Politico, have raised concerns among some lawmakers and the American Foreign Service Association, the union representing U.S. diplomats. The affected career diplomats will return to Washington for potential reassignment but will no longer serve as chiefs of mission in their current postings.
News
Tinubu Hails DSS DG Ajayi for Championing Press Freedom in IPI Award Recognition
President Bola Tinubu has congratulated Mr. Adeola Oluwatosin Ajayi, Director-General of the Department of State Services (DSS), on receiving a commendation award from the Nigerian National Committee of the International Press Institute (IPI) for his outstanding commitment to press freedom.
The prestigious recognition was bestowed on Ajayi during the IPI’s Annual Conference held on December 2, 2025, in Abuja. The organisation praised Ajayi, who assumed office in late August 2024, for demonstrating “an unmistakable commitment to press freedom and respect for journalists and media organisations.
“In a statement, the IPI noted that the award aims not only to acknowledge Ajayi’s commendable record but also to encourage him to build on these efforts and inspire other public officials and institutions to follow suit.
President Tinubu welcomed the honour, commending the DSS chief for promoting press freedom, safeguarding citizens’ rights, and operating strictly within legal boundaries.
He highlighted that under Ajayi’s leadership, the DSS is shifting away from past perceptions of hostility toward the media, instead fostering dialogue and constructive engagement with journalists and the broader public.
The President urged other security agencies and government officials to adopt a similar collaborative approach, treating the media as partners in nation-building rather than adversaries.
He further encouraged the DSS to sustain its positive trajectory, ensuring an enabling environment for journalists to fulfil their constitutional role of holding public officials accountable.
The statement was issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
Business
Heirs Energies Secures $750 Million Financing from Afreximbank for Expansion
Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank).
The deal was finalized during a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

This transaction marks one of the largest financings ever obtained by an indigenous African energy firm, underscoring strong confidence in Heirs Energies’ operational track record, governance, brownfield expertise, and future growth potential.
Since taking over operatorship of Oil Mining Lease (OML) 17, Heirs Energies has implemented a rigorous turnaround strategy, emphasizing production recovery, asset integrity, and efficiency gains.
Through targeted interventions and infrastructure upgrades, the company has shifted from acquisition-focused funding to a sustainable capital structure suited to long-term reserve development.
Production has doubled since acquisition, rising from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to more than 50,000 bopd and 120 mmscf/d currently. All gas output is supplied to Nigeria’s domestic market, playing a key role in supporting national power generation.
The company has also overhauled community engagement and upheld top-tier health and safety standards.

The new Afreximbank facility will fund accelerated field development, production optimization, and strategic growth initiatives, all while adhering to strict capital discipline.Tony O. Elumelu, CFR, Chairman of Heirs Energies, commented: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital.
It reflects the successful journey Heirs Energies has taken—from turnaround to growth—and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.
”Dr. George Elombi, President and Chairman of Afreximbank, added: “Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth.
This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions driving sustainable economic transformation across the continent.
”The deal highlights Afreximbank’s commitment to empowering indigenous operators capable of advancing energy security, sustainable development, and economic value throughout Africa.

With this funding in place, Heirs Energies is well-positioned for its next growth phase, prioritizing operational excellence, responsible resource management, and lasting stakeholder value.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, dedicated to addressing the continent’s energy demands while advancing global sustainability objectives. It emphasizes innovation, environmental stewardship, and community development in the evolving energy sector.
The African Export-Import Bank (Afreximbank) is a Pan-African multilateral institution focused on financing and promoting intra- and extra-African trade, supporting industrialization, trade growth, and economic transformation.
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