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Okonjo-Iweala to Tinubu: Borrow Cautiously, Reforms Should Create Jobs for Nigerians

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By Yusuf Danjuma Yunusa

The director-general of the World Trade Organisation, Ngozi Okonjo-Iweala, has urged the Nigerian government to be careful about borrowing and managing the country’s debt, saying economic reforms must improve the lives of ordinary Nigerians.

She also called on the government to sustain ongoing reforms while creating more jobs and economic opportunities for the country’s growing youth population.

Mrs Okonjo-Iweala spoke on Wednesday at the seventh Africa Emerging Markets Forum in Abuja.

Commending the Central Bank of Nigeria for its monetary and foreign exchange reforms, Ms Okonjo-Iweala urged Nigeria to continue broader economic reforms while remaining disciplined in managing its finances.

“Nigeria needs to continue the work on overall macroeconomic reforms with a careful approach to fiscal issues, contracting of debt and debt management,” the WTO chief stated.

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According to the latest data from the Debt Management Office, Nigeria’s total public debt stood at N159.28 trillion at the end of December 2025, rising by N14.61 trillion, or 10.10 per cent, from N144.67 trillion recorded at the end of 2024. The figure covers the debt owed by the federal government, the 36 states and the Federal Capital Territory. The government is also expected to continue borrowing this year to finance its 2026 budget deficit.

Mrs Okonjo-Iweala said the success of Nigeria’s reforms should not be measured only by improvements in economic indicators. Instead, she said Nigerians must begin to experience better living conditions through more jobs and opportunities.

“Above all, Nigeria needs to focus on creating jobs and economic opportunities for a young and hungry population. Nigerians have to feel the dividends of reform in the real economy,” noted the WTO chief.

Nigeria has one of the world’s youngest populations, with millions of young people joining the labour market every year. However, many struggle to find decent jobs, making employment one of the biggest economic challenges in the country.

Since President Bola Tinubu assumed office in May 2023, his administration has introduced major reforms, including the removal of petrol subsidy and the liberalisation of the foreign exchange market.

The policies have pushed up the cost of living, with many Nigerians facing higher prices for food, transport and other essentials. Although inflation has slowed in recent months, prices remain high.

The National Bureau of Statistics said Nigeria’s headline inflation rate eased slightly to 15.91 per cent in June 2026 from 15.93 per cent in May. Food inflation, however, increased to 17.52 per cent, showing that many households are still paying more for basic food items.

For opportunities, Ms Okonjo-Iweala said countries that maintain stable economic policies and improve their business environment will be better placed to benefit from changes in global trade.

She noted that companies are increasingly looking for new places to invest and diversify their supply chains, creating opportunities for countries that can offer stability and predictable policies and urged Nigeria to continue strengthening its economy so it can attract long-term investment and create more jobs for its people.

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Call Me Chairman, Not Tony!’: Elumelu’s Blunt Correction of Trainee Splits Internet as Old Video Sparks Double Standard Fury

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By Yusuf Danjuma Yunusa

A seemingly brief exchange between United Bank for Africa (UBA) Group Chairman, Tony Elumelu, and a female graduate trainee has erupted into a nationwide conversation about cultural values, corporate etiquette, and the politics of address, after a video of the interaction went viral on social media.

The incident occurred on Thursday, August 20, 2026, during an interactive session at the graduation ceremony for UBA’s Graduate Management Accelerated Programme (GMAP) in Lagos. In the now-viral clip, the trainee began her question by greeting the billionaire businessman with a casual, “Good morning, Tony.”

Mr. Elumelu, who was serving as a mentor at the event, promptly and firmly corrected her. According to multiple reports, he told her: “No, you won’t call me Tony. You call me Mr. Elumelu, or TOE, or Chairman.” He further justified his stance, explaining that he does not subscribe to what he termed the casual, Western-style familiarity in professional settings. “I don’t subscribe to that kind of Oyinbo life, okay!” he added.

The exchange has since polarized the Nigerian public, sparking a fierce debate on social media.

One faction of netizens has rallied behind Mr. Elumelu, arguing that the trainee’s address was a clear sign of disrespect, given his status as the chairman of a major financial institution and his seniority in age. Commentators argued that in a formal setting, the use of a title is a basic sign of respect. One social media user remarked, “Common sense should make you understand that at that moment, you are not talking to your friend, but what he is, a chairman or boss, or at least an adult that is obviously older than you.”

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Conversely, a second group has come to the trainee’s defense. They argue that modern corporate culture, even within Nigerian banks, often encourages a first-name basis to foster a more egalitarian and open work environment. A former UBA staff member, Innocent Istifanus Moses, confirmed that GMAP graduates are typically taught to address colleagues, including senior executives, by their first names. In his view, the trainee’s mistake was not irredeemable, and he advised her to issue a brief, sincere apology. “Mistake–briefly acknowledge–correct it– move on confidently,” wrote one observer.

Accusations of Double Standard Emerge

The debate took a sharper turn when an old video resurfaced online, showing Mr. Elumelu in a 2022 interview with Chisom Obi-Okoye, an MBA student at Stanford Graduate School of Business in the United States. In that footage, the student interviewer addressed him as “Hi Tony” multiple times without any objection or correction from the businessman.

This discovery has led to widespread accusations of a double standard. Critics argue that Mr. Elumelu is willing to accept the casual, “Oyinbo” culture he decried when it suits him in an international setting but enforces a rigid traditional hierarchy at home. One Facebook user, Awuzie Frankline, questioned the inconsistency, stating, “Respect should be consistent not dependent on someone’s status, location or social class.”

Defense: ‘When in Rome, Behave Like The Romans’

In defense of the UBA Chairman, supporters have argued that there is no contradiction, as the two situations occurred in vastly different cultural contexts. They contend that Mr. Elumelu was simply adapting to the norms of his environment—behaving like the Romans while in Rome, as it were. In a formal corporate setting in Nigeria, they argue, it is appropriate to demand the traditional respect that is due to one’s elders and superiors. As one commentator put it, the issue is about “the need to adjust to culture and nuance as they come.”

Beyond the immediate controversy, the incident has opened a wider conversation about generational differences, the clash between traditional African values and Western corporate norms, and the importance of navigating social cues in professional environments.

Jide Akintunde, a social commentator, expressed surprise at Mr. Elumelu’s objection, noting that his first name has been central to his public and industry branding for years. He suggested that the public correction, while perhaps justified, could have been handled privately to avoid humiliating the young trainee.

As of Friday, the young woman at the center of the storm has not made a public statement. The video, however, continues to trend, serving as a potent reminder of the intricate and often unspoken rules that govern professional and social interactions in Nigeria.

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President Tinubu Suspends Three Perm Secs as ICPC Uncovers Another Fake Agency in SGF Office

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By Yusuf Danjuma Yunusa

President Bola Tinubu has ordered the immediate arrest of George Nwabueze over the alleged operation of a fake government agency within the premises of the office of the secretary to the government of the federation (OSGF).

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The president also ordered the immediate suspension of three permanent secretaries following fresh findings by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in its investigation into alleged fake government agencies and weaknesses in public service processes.

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3 Brigade wins army Inter-brigade combat proficiency competition in Kano

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3 Brigade Nigerian Army, Kano, has emerged overall winner of the 2026 One Division Inter-Brigade Combat Proficiency Competition held in Kano.

The brigade secured the first position with 565.5 points, while 31 Artillery Brigade, Minna, Niger State, came second with 539 points. 1 Division Garrison, Kaduna, placed third with 534 points.

The three-day competition featured various military exercises aimed at testing the combat readiness, tactical awareness, physical fitness, leadership skills and professional competence of participating junior and middle-level officers.

The events included weapon handling, combat training, map reading, shooting and obstacle crossing, providing participants with opportunities to sharpen their skills and improve their preparedness for contemporary security operations.

Speaking at the closing ceremony, the Commander, 3 Brigade Nigerian Army, Kano, Brig.-Gen. Saka Jimoh, said the exercise was part of the numerous training programmes organised by Army Headquarters to ensure troops remained adequately prepared to tackle evolving security challenges.

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Jimoh said continuous training and improved welfare of personnel remained key components of the Nigerian Army’s efforts to enhance operational effectiveness.

He added that the competition demonstrated the commitment of the Army to developing officers with the required skills, discipline and leadership qualities needed for effective command responsibilities.

“Welfare is one of the pillars of our command philosophy, and one very important aspect of it is the soldiers’ health concept. That is what we, as commanders in the Nigerian Army, are after to ensure the welfare of both our officers and men,” he said.

On security challenges within the brigade’s area of responsibility, including Kano and neighbouring states, Jimoh said criminal elements were feeling the impact of sustained Army operations.

He attributed the progress recorded to the training of troops and effective use of credible intelligence, assuring that the Army would continue to work towards eliminating criminal elements within its area of responsibility.

Earlier, the Special guest of honor, the Commandant, Nigeria Navy Logistics College, Dawakin Tofa, Kano, Commodore Abubakar Madawaki, commended participants for demonstrating courage, discipline, leadership, tactical awareness, physical fitness and commitment to duty throughout the competition.

Madawaki said continuous training remained critical to preparing officers for the complex demands of modern military operations, adding that the competition provided an avenue for junior and middle-level officers to improve their combat skills and decision-making abilities.

He congratulated the winners and encouraged other participants to regard the experience gained as an opportunity for professional growth.

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