It's not all a Laughing Matter, Elumelu explains Closed Door Discussion with Tinubu

President Bola Tinubu on Friday met with Tony Elumelu, Chairman, United Bank for Africa (UBA) Group PLC, to advance plans for economic growth and tax reforms aimed at strengthening small businesses.

Elumelu spoke with State House Correspondents after the closed-door meeting at the Presidential Villa, Abuja.

He said the discussions focused on how to strengthen small and medium-scale enterprises (SMEs), describing them as the engine of economic growth.

Elumelu said the president was passionate about “capacitising” SME operators and supporting young entrepreneurs across the country.

“Today we talked about small and medium-scale enterprises and how to further support Nigerian medium and small-scale enterprises. (SMEs)

” Mr. President is very passionate for my discussion about capacitising the small and medium-scale entrepreneurs in Nigeria, and I’m very happy to hear that, to feel that, to explain that, because they are the engine of economic growth,” Elumelu said.

He said Tinubu explained that ongoing tax reforms would be used to boost SMEs and widen opportunities for enterprise growth.

Elumelu said the president also discussed the Bank of Industry (BOI) and expressed satisfaction with its current leadership and performance.

He said the alignment between government priorities and private sector support for entrepreneurs was encouraging for Nigerian youths.

Elumelu, a member of the President’s Economic Council, said he also briefed Tinubu on his assessment of current economic trends.

He said the monetary policy direction of the Central Bank of Nigeria was “quite encouraging,” noting improved stability and predictability.

Elumelu, who is also the Chairman, Heirs Holdings, a leading pan-African investment company said that foreign exchange access was no longer a dominant concern in the banking sector, compared to previous periods.

On the power sector, he said the meeting also addressed the need to improve electricity supply for economic development.

Elumelu said Tinubu expressed commitment to fast-tracking payments owed in the power sector to enable generation companies increase supply.

He described electricity access as critical to driving productivity, business growth and national development.

Elumelu thanked the president for his commitment to SMEs, youths entrepreneurship and efforts to energise the power sector.

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INEC releases 2027 Election Calendar, fixes February 20 for Presidential Poll

The Independent National Electoral Commission (INEC) on Friday released the notice of election and the timetable and schedule of activities for the 2027 general elections.

The INEC Chairman, Joash Amupitan, officially released the timetable at a news conference at the commission’s headquarters in Abuja.

According to the schedule, the national elections (Presidential and National Assembly) will hold on February 20, 2027, while state elections (Governorship and State Houses of Assembly) are slated for March 6, 2027.

The conduct of party primaries, including the resolution of disputes arising from them, is expected to commence on May 22, 2027 and end on June 20, 2027.

The submission of nomination forms by political parties via the INEC online portal for the national elections will open on July 14, 2027 and close on July 28, 2027.

For state elections, the submission period is between August 11 and August 25, 2026, with access codes to be made available to parties at the INEC headquarters on July 13.

The commission also scheduled the publication of personal particulars of candidates for the presidential and national assembly elections for Aug. 4, while those for the governorship and state assembly polls will be published on September 1.

The timetable fixed August 25 as the last day for the withdrawal or replacement of candidates for national elections, and September 24 for state-level candidates.

Similarly, INEC will publish the final list of nominated candidates for the national elections on August 15 and for state polls on October 6.

While the publication of the notice of poll is set for January 21, 2027, the commission will publish the official register of voters on January 11, 2027.

Public campaigns for the presidential and national assembly elections are scheduled to commence on September 23, 2026 and end on February 18, 2027.

Campaigns for the governorship and state houses of assembly elections will start on October.7, 2026 and end on March 4, 2027.

Amupitan stated that the timetable was released pursuant to the provisions of the 1999 Constitution (as amended) and Section 28(1) of the Electoral Act 2022.

He explained that the Act mandates INEC to publish the notice of election not later than 360 days before the date appointed for the polls.

The chairman emphasised that the commission acted swiftly to ensure the integrity of the process and to mitigate logistical challenges that could arise from delays.

He noted that under the 1999 Constitution, the tenures of the president, vice-president, and state governors (excluding off-cycle states) will expire on May 28, 2027 while the national and state houses of assembly are expected to stand dissolved on June 8, 2027.

The off-cycle governorship elections are: Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo and Osun states.

According to the INEC chairman, the release of the timetable is a reflection of the commission’s commitment to transparency and adherence to the rule of law.

He advised political parties to strictly follow the timelines, warning that the commission would enforce compliance.

On the pending Electoral Amendment Bill in the National Assembly, the chairman expressed INEC’s readiness to adopt any change that would strengthen the system, but stressed that current operations remained guided by the existing legal framework.

Amupitan urged political parties to conduct peaceful primaries and called on all stakeholders to begin preparations for the ‘pivotal’ 2027 polls.

He, however, emphasised the need to act in accordance with the existing provisions of the Electoral Act.

“As an independent electoral body, we are committed to upholding the rule of law and ensuring that our actions are guided by the established legal framework.

“The timely announcement of the election date is a critical step in this process, allowing our stakeholders—political parties, civil society organisations and the electorate—to prepare adequately for the elections,’’ he said.

Amupitan further pledged the commission’s commitment to deepening the use of technology and maintaining an impartial, professional stance throughout the electoral cycle.

He also pledged the commission’s commitment to abiding by laws, while it continued to act impartially, transparently and professionally in the discharge of its duties.

“I call on political parties to conduct peaceful and credible primaries, to shun violence and inflammatory rhetoric and to uphold internal democracy.

“I equally appeal to candidates, supporters, and the electorate to conduct themselves peacefully throughout the electoral cycle,’’ he said.

Amupitan, while urging all stakeholders including citizens to play their respective roles toward the success of the 2027 general elections, also tasked them to begin preparing for ‘this pivotal moment’.

“Let us work together to ensure that the electoral process is peaceful, inclusive and reflective of the will of the Nigerian people,’’ he said.

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