Top 5 Stories Of The Day | “Insecurity in Nigeria is so bad today” – Obasanjo

• “Insecurity in Nigeria is so bad today” – Obasanjo
• TCN claims it is not to blame for constant national grid collapse
• Foreign investors lose $355 billion over forex instability
• AfDB is funding Nigeria with $100 million for establishment of a youth bank
• Netherlands announces full tuition scholarship for Nigerians and others

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

“Insecurity in Nigeria is so bad today” – Obasanjo

The ex-President of Nigeria, Olusegun Obasanjo, claimed that Nigeria’s insecurity has worsened compared to his time. He urged the nation’s leaders to work on rectifying this problem as part of the country has been swamped with criminals such as bandits, thieves and kidnappers.

Obasanjo said he believed that God did not create African countries, only to know immense poverty and chaos meted on them by their leaders.

According to the former Nigerian ruler, the country needed community policing to combat the rising insecurity. He claimed that if community policing were active in communities where everyone knew each other, it would be possible to identify the threats in a community.

TCN claims it is not to blame for constant national grid collapse

The Transmission Company of Nigeria (TCN) has washed its hands off the constant national grid collapse in Nigeria since the grid has now collapsed eight times in 2024, three times a week.

The CEO of TCN, Sule Abdulaziz, said that though the TCN was in control of the national grid, it did not mean every collapse was a fault of the TCN. He also stated that the causes of the grid collapse could be generation, transmission or distribution.

“It can be from generation, it can be from transmission, and it can be from distribution. And some of these also can come as a disaster. So if there is any system collapse, we have to make studies, find out what is the cause of this grid collapse,”

“But you cannot say it is the fault of TCN, just like that. But TCN is the one managing the grid.”

Foreign investors lose $355 billion over forex instability

Foreign investors in Nigeria have counted their losses as they sold $355 billion worth of stocks on the Nigerian Exchange Limited from January to August of 2024.

According to a report from the Nigerian Exchange Limited on the August Domestic & Foreign Portfolio Investment, foreign outflows from the market have surpassed inflows by ₦56 billion.

AfDB is funding Nigeria with $100 million for establishment of a youth bank

The Africa Development Bank (AfDB) has announced its contribution to the Nigerian government to establish a youth Bank.

The AfDB president, Akiwunmi Adesina revealed this at the 90th birthday celebration of the Nigerian former leader Yakubu Gowon. He, the President of AfDB, said the new youth bank would support youth businesses across Nigeria.

He was hopeful that establishing the bank would reverse the ” Japa ” migration trend practised by the youth today.

Netherlands announces full tuition scholarship for Nigerians and others

The 2025 Eric Bleumink scholarship is open to Nigerians and other countries worldwide, ensuring all applicants meet the requirements.

The Eric Bleumink scholarship offers a full tuition scholarship, travel costs and health insurance for those awarded the opportunity to study in the Netherlands.

The scholarship application is open until December 1, 2024, for all Masters degree applicants. Check the website for more information on eligibility for the scholarship.