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The Brexit Nightmare ByReuben Abati
What has the United Kingdom just done to itself, its people and the future of its self? It is difficult to fully understand why a country in taking a decision about its future will decide on a false option that seems to negate long-term interests.
And this, just because a total of 17.4 million people out of over 61 million chose to vote against the United Kingdom’s continued membership of the EU. More than 50% of these pro-Brexit voters are actually between the age bracket: 50-70, thus an ageing class of voters has taken a decision to undermine the future of the younger generation.
Pro-EU Prime Minister David Cameron said he was “courageous and optimistic ” when in January 2014, he tried to justify the need for a referendum.
His words then: “ I think the overwhelming majority of the British people say they want to be in Europe but they want some changes to the relationship and they would like to be given a say. It is not something that we should be frightened of. It’s something we should embrace.” Cameron is now a study in political miscalculation and how over- confidence can make a political leader misread the people’s moods and expectations. He has been praised for his “courage” in quickly accepting the people’s verdict and for tendering his resignation, but I guess he won’t possibly be talking about courage. He must be full of regrets for presiding over the United Kingdom’s exit into a nightmare. Britain is better off remaining in the EU. But on June 23, 2016, the people of Great Britain spoke and their verdict has been accepted as the status quo, except a miracle happens and the current petition by the pro-EU protesters results in a second referendum. As things stand, the people have rejected continued membership of the European Union. The implication is that the majority of the people believe that the United Kingdom is better off on its own. What is quite clear is that this British exit (Brexit) is more about the rise of xenophobia, bigotry and isolationism. It is not new. Britain has always looked backward and in-out in the course of its membership of the EU, oscillating between its commitment to a greater Europe and the need to preserve British identity and sovereignty.
The British public mind has been driven in recent years by loud, perpetual carping about too much control from Brussels, and the
need to project Britain first. The ultra nationalists nursed fears about their great country becoming a colony within a EU empire. They are uncomfortable with the apparent globalization of British demographics, turning Britain into a country of many racial colours, with the influx of so many immigrants who are empowered by EU laws to be free citizens of a united Europe. The call for a referendum on this matter has now given the Brexiteers, who jus want their country to be left alone by outsiders, the opportunity they have always wanted. PM Cameron apparently underestimated their resolve. The Leave EU activists campaigned more vigorously, and deployed every possible means including blackmail and sentiments. They had the vibrant support of many political leaders including former London Mayor Borns Johnson, Michael Gove, and fire-eating UKIP leader, Nigel Farage. In the event of an intense campaign that divided the country right down the middle, we witnessed the mainstreaming of xenophobia and bigotry. Labour MP Jo Cox who was murdered by an irate Eurosceptic for her pro-EU stance will be remembered as the symbol of how a straightforward, for or against, political debate turned into hate campaign and a national referendum became an act of terror. There are many lessons to be learnt from this instructively low moment in Britain. What has happened is actually a referendum on the British establishment and the EU. The EU faces a crisis requiring urgent introspection and reform of its processes, if it must continue to serve its purpose. Britain is not the first country to avoid membership of the EU but whereas countries like Switzerland and Norway can hold out on their own, Brexit comes at great cost to the British. At hand is the triumph of emotions over reason, and the triumph of right wing populism. In many countries of Europe and even at the moment in the United States, the ultra-conservative political bloc seems to be in the ascendancy. Questions are being asked about regional integration and globalization. The basis for this is largely the manner in which regional groupings such as the EU disappoint the people. This is made worse by the failure of the leadership elite and sitting governments. When people are not happy with their governments or their circumstances,
they are ready to make any choice that looks like an alternative. Opposition and anti-establishment politicians understand this game too well.
All they need to do is to demonize the establishment, tear the government of the day into pieces, call names and tell the people that the time has come for change. Those who claim that they best know how to save a nation, armed with populist rhetoric in an election time, and have the best support of the people, in the long run stand a better chance of winning. Democracy in that fashion is a play-field of emotions, not facts. It is the same scenario that made Bernie Sanders so popular in the recent Presidential nomination process in the United States, and also led to the emergence of Donald Trump as the presumptive Republican Presidential candidate. Political leaders who don’t want sad outcomes only have to provide good leadership and meet the people’s
expectations. It is also clear that democracy may not produce rational outcomes in so far as it awards triumph on the basis of percentages: in Brexit, the difference is just 4%, 58-42, but the rule of the game is that majority carries the day, and as in most cases, the winner takes it all. But should the economic and political destiny of a people be determined in such formulaic manner?
Brexit has left the United Kingdom in a more divided shape that it was before the referendum. The entire country is in turmoil.
The taste of change doesn’t quite seem so sweet anymore, less than 72 hours after the vote. Young Britons may no longer be able to
move freely across Europe and the experts have predicted rising costs and expectations and greater economic hardship. If Brexit
stands, more than half of the population will be thrown into a winter of discontent, wondering why just about 1.3 million voters
(17.4 million (for), 16.1million (against) should have been allowed to mislead a country. Many Britons will no longer be able to find jobs so easily across Europe. Hyperdemocracy has resulted in British discombobulation. But that is democracy: it includes the people’s right to make mistakes, that is – the right of the simple majority to make mistakes at the expense of the minority, who may have lost the vote due to poor turn out or other matters of logistics. Leadership counts. The truth is that the leadership elite in Britain has also not always being too clear about where Britain should stand in relation to the rest of Europe. Even the pro-EU political leaders do not really object to Britain holding on to its national currency, the Pound, as opposed to the Euro, and Britain opting out of the idea of being a Schengen border. Britain also did not join the European Economic Community until 1973, 16 years late. Two years later, there was an exit referendum similar to this one, won by the pro-Europe campaigners. Nothing forecloses the possibility of another referendum in the not too distant future to reverse the present decision. What has happened isperhaps all correctly British, in the final analysis: a nation yet to come to terms with certain odern realities, caught between nostalgia and the future. This is precisely what the copycat plebiscites should understand, particularly in Africa where some commentators have been saying that some African countries on account of Brexit may begin to raise question about the relevance of the African Union. The AU is modeled after the EU and it receives substantial funding support from it, but it has not been as remotely relevant in addressing the people’s expectations. In my opinion, there is nothing to fear in terms of a copycat effect in Africa; most Africans are
indifferent about the AU anyway, they are not even aware of its existence. But as most development aid received by African countries come from the EU, this may be negatively affected with the exit of a major country like Britain, and a post- EU Britain may also be compelled to adjust its trade relations, immigration rules, and development support for countries in Africa. This, I think, is all there is to it at this end. Closer home, the more strident call is for a referendum on the Nigerian union. In the last few days, I have for example, seen a strange Nigerian invention called “Biafrexit”. This must be a joke, symbolically thrown up by those who must know that no Nigerian government will allow such a vote. The Brexit vote was not about disintegration, even if Scotland is now insisting on its independent right to be part of the EU; rather the vote was more about national and economic identity. Nigeria is
still at the level of debates: we can hold as many conferences as we like, adjust the Constitution at mutually agreed terms, but a
referendum that could lead to the dissolution of this country is not what we need, and it is certainly not the lesson from Brexit.
News
NECO Releases 2026 SSCE Results as 58.67% Secure English, Maths Credits

The National Examinations Council (NECO) has released the results of the 2026 Senior School Certificate Examination (SSCE) Internal, with 58.67 per cent of candidates obtaining at least five credits, including English Language and Mathematics.
NECO Registrar and Chief Executive, Professor Dantani Wushishi, announced the results on Thursday at the council’s headquarters in Minna, Niger State.
A total of 1,378,048 candidates registered for the examination, comprising 682,352 males and 695,696 females. Of the registered candidates, 1,371,992 eventually sat for the examination.
According to NECO, 804,948 candidates, representing 58.67 per cent, obtained five credits and above, including English Language and Mathematics. Another 1,162,118 candidates, representing 84.70 per cent, obtained at least five credits irrespective of their results in the two subjects.
The 2026 examination was conducted between June 15 and July 23 across Nigeria and six foreign countries: Benin Republic, Equatorial Guinea, Niger Republic, Côte d’Ivoire, Togo and Saudi Arabia. The nationwide marking exercise took place from August 17 to September 4.
NECO also reported a significant reduction in examination malpractice. The council said the number of candidates involved in malpractice fell from 3,878 in 2025 to 1,406 in 2026, representing a 64.74 per cent decline.
The registrar attributed the reduction to strengthened examination monitoring, improved processes and collaboration with security agencies and other stakeholders.
The council also disclosed that candidates with special needs participated in the examination, as part of its efforts to make the examination process more inclusive.
NECO said candidates can now access their results through its official result-checking platform using their examination registration details.
The release of the results comes 63 days after the conclusion of the 2026 SSCE examination.
News
Nigeria’s FX Supply Rises 20.5% to $8.94bn in 2025

Nigeria’s foreign exchange supply increased by 20.5 per cent to $8.94 billion in 2025, up from $7.43 billion recorded in 2024, according to data from the Central Bank of Nigeria (CBN).
The figures were contained in the apex bank’s 2025 Statistical Bulletin and represent an increase of about $1.51 billion in annual foreign exchange supply.
Monthly figures showed that supply remained relatively low at the beginning of 2025 before rising significantly in March and April.
FX supply stood at $590.64 million in January and $607.63 million in February. It then climbed to $1.04 billion in March before reaching its highest monthly level of $1.65 billion in April.
However, supply declined in the following months, falling to $838.93 million in May and $676.31 million in June. It recovered slightly to $759.02 million in July before dropping to $677.84 million in August and $399.80 million in September.
October recorded the lowest monthly figure for the year at $150.10 million. Supply later recovered to $638.38 million in November and $910.73 million in December.
The CBN also reported that total foreign exchange inflows into Nigeria rose from $96.53 billion in 2024 to $109.86 billion in 2025, representing a 13.81 per cent increase.
However, foreign exchange outflows also increased during the period, rising by 27.83 per cent from $38.37 billion to $49.05 billion.
As a result, Nigeria recorded a net foreign exchange inflow of $60.81 billion in 2025, compared with $58.16 billion in 2024.
The CBN data, however, do not provide a detailed breakdown of the sources of the $8.94 billion supplied during the year.
The increase in FX supply comes amid continued efforts to improve liquidity and stability in Nigeria’s foreign exchange market, although the market remained volatile in 2026.
News
Dangote Reacts to Viral Memes as Nigerians Joke About Refinery Ownership

Africa’s richest man and President of Dangote Group, Aliko Dangote, has reacted to the wave of viral memes generated by Nigerians who recently bought shares in the Dangote Petroleum Refinery.
The memes emerged following the launch of the refinery’s Initial Public Offering (IPO) on the Nigerian Exchange on September 14, with investors jokingly presenting themselves as business partners and co-owners of the multibillion-dollar refinery.
Dangote addressed the trend while speaking with CNN correspondent Larry Madowo at the Unstoppable Africa 2026 summit in New York.
The billionaire said the IPO was designed to attract investors from across Africa, with an ambition of having up to 10 million shareholders.
According to Dangote, the objective is to broaden ownership and increase participation in Africa’s capital markets.
He also expressed confidence in the future value of the company, saying the share price would continue to grow and that he expected the refinery to become Africa’s most profitable company.
The viral memes began after the minimum subscription was set at 10 shares, allowing more Nigerians to participate in the offer with a relatively small amount of money.
Some new shareholders jokingly demanded board meetings, while others posted memes portraying themselves as senior executives of the refinery. The trend even inspired humorous videos from Nigerian comedians and content creators.
Reuters also reported that the IPO triggered significant interest among retail investors, with some digital investment platforms experiencing technical difficulties as people rushed to participate.
The Dangote Refinery IPO involves 4.1 billion ordinary shares, with the offer scheduled to close on October 13, 2026. The funds are intended to support the company’s expansion plans, including an increase in refining capacity.
Dangote also said the expected number of shareholders could be so large that the company’s annual general meeting would need to be held in a stadium.
The development has turned what is essentially a major capital-market transaction into a major social-media talking point, with Nigerians using humour to celebrate their newly acquired stakes in one of the country’s biggest industrial projects.
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