PRESS
Senator Tokunbo Abiru Bags Nairametrics Legislative Excellence Award For Advancement of Financial Services Sector
Senator Tokunbo Abiru Bags Nairametrics Legislative Excellence Award For Advancement of Financial Services Sector
The Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA, on Friday was honoured with the Legislative Excellence Award for Financial Sector Advancement at the 2026 Nairametrics Capital Market Awards held in Lagos. Speaking after receiving the award, Senator Abiru expressed gratitude to the organisers for the recognition, describing it as a reflection of the collective efforts of stakeholders working to strengthen Nigeria’s financial and capital market ecosystem.  Abiru, who had a distinguished career in the financial services sector before joining public service, reiterated his commitment to supporting policies and legislative initiatives aimed at deepening the capital market, enhancing investor confidence, and promoting sustainable economic growth. The lawmaker noted that the recognition demonstrates the importance of collaboration among policymakers, regulators, market operators, and investors in building a globally competitive economy capable of attracting investment and creating opportunities for citizens.  The Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions further commended stakeholders in the financial services sector for their dedication and contributions to the growth and development of Nigeria’s capital market. According to the lawmaker, the development of a vibrant and resilient capital market remains critical to Nigeria’s economic transformation and long-term prosperity. The Nairametrics Capital Market Awards recognises individuals and institutions that have made significant contributions to the growth, stability, and advancement of Nigeria’s capital market and broader financial sector.
APC Members Reaffirm Confidence In Senator Abiru, Elect Him Unopposed In Lagos East
Teeming members of the All Progressives Congress across the Lagos East Senatorial District have unanimously reaffirmed their confidence in the senator representing the district, Senator Mukhail Adetokunbo Abiru, by electing him unopposed as the consensus candidate of the party. The affirmation which took place on Monday, at Ikorodu Town Hall, and across other locations in Somolu, Kosofe, Ibeju-Lekki and Epe local government areas, attracted massive turnout by party faithful and delegates, indicating strong support enjoyed by Senator Abiru within the ruling party in Lagos East.  Reacting to the affirmation, Senator Abiru expressed deep appreciation to party leaders, stakeholders, women, youths, delegates, and members of the APC family across the senatorial district for the confidence reposed in him. He described the overwhelming support as a reflection of the collective commitment of party members and residents to the continued growth, development, and progress of Lagos East and Lagos State at large. “I am deeply humbled by this overwhelming show of love, loyalty, and support. The massive turnout and solidarity displayed today is a clear reflection of our shared commitment to the continued growth, development, and progress of Lagos East and our dear Lagos State,” Abiru stated.  The senator also paid glowing tribute to President Bola Ahmed Tinubu for what he described as visionary leadership, unwavering commitment to progressive ideals, and sacrifices toward the growth of the APC and the nation. According to him, President Tinubu’s leadership continues to inspire many public office holders across the country.  Abiru further noted that the affirmation belongs to every committed party member and resident who believes in the collective vision for a more prosperous Lagos East. “This victory is not mine alone. It belongs to every committed party member and every resident who believes in our collective vision for a more prosperous Lagos East,” he added.  The lawmaker reiterated his commitment to delivering impactful representation, people-centred governance, and sustained development across the district. He said, “By the grace of God, I remain committed to delivering impactful representation, people-centred governance, and sustained development for our people. Together, we will continue to move Lagos East forward,” he said. 
2027: Lagos East GAC Leaders Endorse Senator Tokunbo Abiru for Another Term At Senate
Leaders of the Governance Advisory Council (GAC) in Lagos East Senatorial District have unanimously endorsed Senator Mukhail Adetokunbo Abiru for another term in the Senate ahead of the 2027 general elections. The endorsement, which took place on Tuesday at the residence of Otunba Busura Adedeji Alebiosu, GAC and apex leader in Lagos East, was a strong resounding vote of confidence in Senator Abiru’s performance and impactful representation since assuming office. The GAC leaders, who serve as the highest decision-making body of the All Progressives Congress (APC) in Lagos State, commended the Senator’s consistent delivery of democratic dividends, noting that his people-centred approach to governance has significantly improved the quality of life across the district. In his response, Senator Abiru expressed profound appreciation to the GAC leadership for the unanimous endorsement, describing the gesture as both humbling and deeply motivating. “I am sincerely grateful for this overwhelming show of confidence by our revered leaders. This endorsement is not only an honour but also a call to serve with even greater dedication, integrity, and purpose,” he said. The lawmaker noted that his decision to seek re-election is driven by a strong desire to consolidate the gains already recorded and to deepen the impact of inclusive governance and sustainable development across Lagos East. Drawing from over three decades of experience in the financial sector, including his tenure as Managing Director/Chief Executive Officer of Polaris Bank and former Commissioner for Finance in Lagos State, Senator Abiru stated that his approach to public service has remained anchored on discipline, transparency, and results-oriented leadership. Since his election into the National Assembly, where he currently serves as Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, as well as Chairman of the Southern Senators’ Forum, Abiru has sponsored and supported key legislative initiatives aimed at strengthening Nigeria’s economic and financial systems. Beyond his legislative duties, the Senator has implemented wide-ranging constituency interventions across all 98 wards in the 16 Local Government Areas and Local Council Development Areas that make up Lagos East. He expressed appreciation to party leaders, stakeholders, and constituents for their unwavering support, assuring them of his continued dedication to fostering unity, progress, and inclusive development across Lagos East. Enitan Olukotun Media Aide to Senator Tokunbo Abiru
Senator Abiru Hosts Lent Service, CAN Commends Initiative as Lagos East Christians Unite in Prayer
Christians across Lagos East Senatorial District, under the auspices of the Christian Association of Nigeria (CAN), converged for the annual Senator Mukhail Adetokunbo Abiru Lent Service and Prayer Session, in a demonstration of faith, unity, and interfaith harmony. The event, which followed the successful Ramadan Lecture Series organised by Senator Abiru across the senatorial district, stressed the lawmaker’s commitment to inclusive leadership, religious tolerance, and community cohesion. Representing the Senator at the event, Otunba Saheed Oladapo Ibikunle, PhD, Special Adviser on Constituency Matters, emphasised that the initiative reflects Senator Abiru’s deliberate effort to engage with all segments of his constituency, irrespective of religious affiliation.  “The Senator is committed to engaging with all strata of the constituency and respecting what they practice. That is why he actively participated in the Ramadan Tafsir and is now identifying with the Christian community during Lent. This is what true representation means,” Ibikunle said. He urged Nigerians to reject divisive tendencies rooted in religion, noting that both Christians and Muslims worship the same God and should not allow religious differences to breed hatred or disunity. “There should be no delineation based on religion when it comes to leadership and civic responsibility. Ramadan and Lent coexisted this year, and that is a powerful message of unity. We must see ourselves as brothers and sisters and resist any attempt to use religion as a tool for division,” he added. In his remarks, the Chairman of CAN in Lagos East Senatorial District, Reverend Joshua Ojo, commended the initiative, describing it as a laudable platform that fosters unity and spiritual reflection among Christians in the district. “This is a commendable initiative, and we appreciate it. This is the second edition, and bringing Christians together in this manner promotes unity and brotherliness. It is also a period of sober reflection and collective prayers for a better Nigeria,” he said.  Delivering the sermon, the Guest Minister, Venerable Gbenga Matthew Babatunde, Provost of the African Church Bethel Cathedral, Aga, Ikorodu, spoke on the theme “Doing Good,” drawing parallels between Christian teachings and Senator Abiru’s #DoingGood mantra. He stressed that doing good is a fundamental obligation for all believers, urging the christains to live lives of service to humanity and devotion to God. “Doing good is a divine mandate. God has called us to serve humanity across all divides. Like the parable of talents teaches us, our gifts are of no value until they are put to use. We must deploy our talents in the service of God and mankind,” he said.  The event attracted several dignitaries and political leaders, including Yeye Olayinka Olusanya, APC Vice Chairman, Lagos East Senatorial District; Deaconess Wonuola Aderibigbe-Oshinowo, JP, Lagos East Women Leader; Rtd. Col. Titilola Onafowokan, PhD; Alhaja Sherifat Abiodun Ogunniyi;Comrade Kehinde Olusola Okeowo; Barrister Olusegun Ojelade; Alhaji Musiliu Sulaimon (Ola 4); Comrade Japhet Odesanya and Hon. Kazeem Showemimo, among others.
Insurance Reforms Act Key to Strengthening Nigeria’s Financial System, Senator Abiru Declares
The Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Mukhail Adetokunbo Abiru, FCA, has described the recently passed Nigerian Insurance Industry Reform Act as a decisive step toward repositioning the country’s insurance sector for growth, resilience and global competitiveness. According to the senator, the reform law represents a critical legislative milestone aimed at modernising the legal framework governing the industry and unlocking its long-standing potential. Abiru stated this on Wednesday while delivering a keynote address at the Insurance Sector Consultative Forum organised by EnterpriseNGR at the Nigeria Insurers Association Conference Hall, Victoria Island, Lagos.  Speaking on a topic titled, “Reform, Resolve, Results: Powering a New Era for Nigeria’s Insurance Sector,” the lawmaker noted that despite Nigeria’s population of over 200 million people, insurance penetration remains about 0.44 percent of Gross Domestic Product (GDP), indicating significant room for expansion. Senator Abiru said although gross premiums reached about ₦1.56 trillion in 2024, the industry’s long-term investment capacity remains modest compared with other emerging markets. Drawing comparisons across Africa, he observed that insurance penetration exceeds 11 percent of GDP in South Africa and is above 2 percent in Kenya, largely driven by innovation and wider distribution channels.  The lawmaker further noted that the expected outcomes of the reform include stronger solvency standards, faster and more transparent claims settlement, increased insurance penetration among households and small businesses, and improved enforcement of compulsory insurance policies, stressing that the reforms had restored consumer confidence in the industry. He said that a stronger and well-capitalised insurance sector would significantly contribute to national economic resilience by providing long-term financing for development projects. According to him, insurance companies globally serve as major institutional investors that support infrastructure development and economic expansion. The Chairman of EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede; Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin; and other prominent industry leaders emphasised the urgent need for coordinated reforms, stronger industry collaboration, and innovative approaches to expand insurance adoption and improve public confidence in the sector. On why the EnterpriseNGR,is convening critical meeting of top stakeholders in the insurance industry, the Chairman of EnterpriseNGR, Mr. Aigboje Aig-Imoukhuede, said: “The greatest source of growth for any economy is investment, and the lever through which that growth is achieved is the financial and professional services sector. So we want to have a vibrant financial and professional services sector. One of the most important professions and services across the world is insurance, and that is why we are focused on the insurance subsector at this time.  “The whole idea is to achieve a level of relevance of insurance in the economy that is higher than what it is today. Right now, we are under one percent penetration in terms of insurance-to-GDP ratio. Some countries are at three percent, others at 11 percent. So if we grow from where we are today to three percent, that is tripling the sector, and if we go to 11 percent, that is ten times growth. The effect on the overall economy will be tremendous.” Also, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Omosehin, disclosed that: “Given the ambition of President Bola Tinubu on the direction of the transformation of the Nigerian economy, the transformation of the insurance sector is no longer optional. It has to commence now. “Given the level of work that has been done at the regulatory end, it then becomes obvious that we needed a platform for collaboration across all stakeholders in the financial services and professional ecosystem to ensure that the desired transformation is given meaning. There is no nation on this planet that can successfully transit to that level of growth without the resilience required from the insurance sector.”  Also speaking, the President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori; the Director-General of the Nigerian Insurers Association, Mrs. Bola Odukale; the Chief Executive Officer of EnterpriseNGR, Obi Ibekwe; and other stakeholders underscored the importance of collective action across regulators, policymakers, insurers, brokers, and other stakeholders to address structural barriers limiting insurance penetration and strengthen the sector’s contribution to Nigeria’s economic development. They emphasised the need for stronger collaboration between industry stakeholders, professional bodies, and academic institutions to build a future-ready workforce while reinforcing ethical standards and continuous professional development across the sector. Odukale said, “the talks about collaboration are very important because we are transitioning in terms of reforms, like the NIRA Act 2025, which is going to transform our market. So when we are talking about transformation, you actually need people that you will collaborate with. You can’t do everything just by yourself. “For us as an industry, collaboration is key and this is very important to us. We believe it is going to have a lot of impact on the ability to deepen insurance penetration in Nigeria and also for our industry to continue to give value to the insuring public.”. Participants at the forum also examined the key factors responsible for the low adoption of insurance products in Nigeria, including limited consumer awareness, trust deficits driven by claims disputes, and inefficiencies in customer experience.
Senate Advocates CBN’s Coordination of Other Regulatory Agencies to Regulate Fintech Operations in Nigeria; Seeks Stricter Measures to Prevent Ponzi Scheme Fraud
The Nigerian Senate has called for a strengthened regulatory framework that places the Central Bank of Nigeria (CBN) at the centre of coordinating oversight for the country’s fast-growing fintech sector, while also demanding tougher measures to combat the proliferation of Ponzi schemes in Nigeria. The position was articulated by Senator Mukhail Adetokunbo Abiru (Lagos East), Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, on Wednesday at the National Assembly, Abuja, during a one-day public hearing on the Banks and Other Financial Institutions Act (Amendment) Bill 2025 (SB. 959) and an investigative hearing into the operations of Ponzi schemes in Nigeria, with particular reference to the recent Crypto Bullion Exchange (CBEX) incident.  The hearing, jointly convened by the Senate Committees on Banking, ICT and Cyber Security, Capital Market, and Anti-Corruption and Financial Crimes, focused on strengthening Nigeria’s financial regulatory architecture amid rapid digital transformation and rising financial fraud. Senator Abiru, a retired bank chief, an accomplished economist and accountant, in his address advocated for strengthening the existing legal framework under the Banks and Other Financial Institutions Act (BOFIA) and explicitly placed fintechs under the supervisory authority of the CBN.  According to him, the Bill seeks to amend the Banks and Other Financial Institutions Act (BOFIA) 2020 to provide a clear statutory framework for the designation, registration, and enhanced supervision of Systemically Important Institutions, particularly technology-enabled financial service providers. Over the past decade, Nigeria’s financial ecosystem has evolved significantly. Fintechs—mobile money operators, payment platforms, digital lenders, and settlement companies—now serve millions of Nigerians, process vast transaction volumes, and hold sensitive financial data. While their growth has strengthened financial inclusion, the law has not kept pace with their scale and systemic relevance.  Although the Central Bank of Nigeria currently designates Systemically Important Financial Institutions, the framework is largely bank-focused and does not fully address the realities of large, data-driven, non-bank financial platforms. This creates a regulatory gap with implications for financial stability, data sovereignty, consumer protection, and national security. This amendment will: Empower the CBN to designate qualifying fintechs and digital financial institutions as Systemically Important Institutions. Establish a national registry to enhance transparency and beneficial ownership disclosure. Strengthen risk-based supervision tailored to technology-driven financial services. Promote data sovereignty and systemic stability. “The question has arisen as to whether the creation of a new standalone regulatory agency would be a preferable pathway for supervising fintechs,” Abiru said. “However, after careful consideration, it is evident that establishing an entirely new agency would duplicate functions, create bureaucratic overlap, increase administrative costs, and fragment regulatory authority in a sector where coordination and coherence are essential.” He emphasised that fintech regulation is closely linked to monetary policy, payments oversight, prudential supervision, Know-Your-Customer (KYC) and Anti-Money Laundering (AML) enforcement, and systemic risk monitoring functions that already reside within the Central Bank.  “It is far more effective to strengthen the BOFIA framework, modernise CBN supervisory powers, and mandate robust coordination with agencies such as the Securities and Exchange Commission, Nigerian Communications Commission, National Information Technology Development Agency, Corporate Affairs Commission, Federal Competition and Consumer Protection Commission, Office of the National Security Adviser and the Federal Ministry of Finance,” he said. He added that incorporating fintech regulation into BOFIA would prevent the emergence of regulatory silos and ensure that digital financial services remain fully integrated with the broader banking ecosystem. Beyond fintech regulation, the Senate intensified its scrutiny of Ponzi schemes and fraudulent digital investment platforms during the hearing. Senator Abiru described their growing prevalence as a serious threat to financial stability and public confidence, citing the recent CBEX incident, which reportedly caused significant losses to many Nigerians, including young professionals, retirees, traders, small business owners, and students. He warned that such schemes not only inflict individual hardship but also undermine trust in legitimate financial institutions, distort capital allocation, damage Nigeria’s financial reputation, and heighten risks of money laundering and illicit financial flows. Following its investigation into regulatory gaps, institutional coordination, and the adequacy of existing laws, the Senate proposed stricter measures to curb the operations of fraudulent Ponzi schemes. Stakeholders and industry experts who made submissions and submitted memoranda at the public hearing include; the Central Bank of Nigeria, CBN, Nigerian Deposit Insurance Commission (NDIC), EFCC, NCC, FCCPC, Ministry of Finance Incorporated, Chartered Institute of Bankers among others.
Youths key to sustainable national development, says Abiru
The Senator representing Lagos East Senatorial District, Adetokunbo Abiru, said that President Bola Tinubu understands that sustainable national development cannot be achieved without the full engagement of young people. The event held at the Lagos State House of Assembly. It had as its theme, “Youth Legislature on the Rise: Shaping Policies for the Future,” reflecting the urgency of the times. Mr Abiru, who is also the chairman of the Nigerian Southern Senators Forum, said that on this day, they had witnessed young Nigerians taking up critical roles in the Federal Executive Council and other key institutions. The federal lawmaker added that the president had demonstrated a clear commitment to repositioning the economy and creating sustainable opportunities for young people.  He said: “One of the most admirable hallmarks of the President’s administration is the inclusion of young people in governance. “Examples are: Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy – a tech visionary; Mr Ayodele Olawande, Minister of Youth Development an active youth voice from the grassroots.  “Mr Aminu Umar-Sadiq, MD/CEO of Nigeria Sovereign Investment Authority entrepreneurship. An advocate for youth; Uzoma Nwagba, MD/CEO of Nigerian Consumer Credit Corporation champion of financial inclusion for youth empowerment. “And several others serving as special assistants, advisers, and chief executive officers of critical agencies. “This intentional inclusion is a validation of the age-old truth that the youths are not just leaders of tomorrow; they are leaders of today.” The senator said it was no coincidence that one of the fastest-growing sectors under this administration was the digital economy and tech space. He said the president had strategically positioned Nigeria to become a hub for innovation and entrepreneurship in Africa. Mr Abiru said through support for tech startups, the expansion of digital infrastructure and favourable regulatory reforms, our young people were now leading a digital revolution. He said: “Across the world, young people are no longer content with being passive observers of governance. “They are innovators, entrepreneurs, digital architects, policy advocates, and reform champions. The 21st century has shifted power dynamics. “As young leaders, your role is not merely to critique policies, but to engage constructively, monitor implementation, propose improvements, and support initiatives that advance national progress.” Mr Abiru said looking ahead to the general elections in 2027, young people must recognise the power of their civic participation. He said supporting continuity where reforms were yielding results was not about partisanship, but it was about stability, progress, and the consolidation of gains already made. Mr Abiru urged the youth to mobilise, organise, and galvanise support for the success of this administration and its re-election in 2027.  He also advised youth parliamentarians that leadership required more than ambition, as it also required competence, character, collaboration, and consistency. Mr Abiru said they might sit this day in a chamber that mirrored the architecture of governance, adding that one day, many of them would occupy positions in the national assembly, state assemblies, and become chief executives. In his remarks, the Speaker of the House, Mudashiru Obasa, said in spite of the Not Too Young Act, which lowered age barrier into public offices, youth representation in legislative chambers remained limited in practice. Mr Obasa, represented by his deputy, Lasbat Meranda, said this reality was a clarion call that youth participation would not flourish by accident; it must be strengthened through deliberate policies and intentional institutional design. He added that in the just concluded 2023 general elections, youths constituted the largest segment of registered voters, yet the translation of voter registration into youth representation remained marginal. According to him, these numbers underscore the reality that our youths are numeric, they have not yet achieved the commensuration influence within the corridor or policy making and law making. In her welcome remarks, the Speaker of the 5th Lagos State Youth Parliament, Itunuoluwa Soniregun, said it gave her pride to welcome guests to the first of its kind Eko Youth Parliamentary Summit. Ms Soniregun, who is also the vice chairperson of the Conference of State Speakers in Nigeria, said this day was a proof that the voice of Lagos youth was no longer a whisper in the corridor of power but a desirable call to shape the state.  She said the Lagos parliament had been recognised as a youth body actively engaged in international partnership that provided opportunities, exposure and open relevance to young people in the state. (NAN)
Senator Tokunbo Abiru Delivers New Blocks of Classrooms In 5 Schools In Imota, Ikorodu West, Ikorodu North LCDAs
Several communities in Ikorodu division of Lagos East Senatorial District have expressed excitement following the delivery of new classroom blocks facilitated by Senator Mukhail Adetokunbo Abiru to improve educational infrastructure and support better learning outcomes. The beneficiary schools include UNA Primary School, Igbalu, Imota LCDA; Anglican Primary School, Isawo; Ipakodo Senior Grammar School; Local Government Primary School, Ipakodo; and Farm Settlement Primary School, Odogunyan.  The projects were commissioned on behalf of the senator by the executive chairmen of the respective local council authorities: Ameen Apanishile (Ikorodu North LCDA), Sulaimon Kazeem (Ikorodu West LCDA), and Sunday Benson (Imota LCDA). They commended the Senator for attending to the growing educational needs of the people, strengthening ongoing efforts to improve public education infrastructure and human capital development within Lagos East Senatorial District. Speaking through his Special Adviser on Constituency Matters, Otunba Saheed Oladapo Ibikunle, PhD, who represented him at the events, Senator Abiru reaffirmed his commitment to delivering the greatest good to the largest number of constituents in Lagos East. He noted that the classroom projects are part of several interventions he had facilitated across the district and assured residents that more impactful projects are underway.  He also commended President Bola Ahmed Tinubu, GCFR, for enabling the funding support that made the projects possible, stressing the President’s commitment to national development. Senator Abiru further acknowledged the Lagos State Government under Governor Babajide Olusola Sanwo-Olu for sustained efforts aimed at improving learning outcomes through targeted educational interventions.   The Education Secretary, Local Government Education Authority, Ikorodu, Hon. Taiwo Odumbo, commended the Senator for his strides in the education sector in Ikorodu division, and across the Lagos East Senatorial district. He described the performance of the Senator as outstanding, stressing that the division and the entire Lagos East district is blessed to have Senator Abiru as representative at the upper chamber of the National Assembly.   Head teachers, parents, pupils of the schools, School Based Management Committee (SBMC), Community Development Associations(CDAs), expressed gratitude to the Senator for his dedicated service to the people. They said the new facilities will enhance pupils’ comfort, boost morale, and improve academic performance. They described the projects as inclusive initiatives spread across multiple communities to ensure broader access to quality education. 
Senator Abiru Highlights Tinubu’s Achievements As Ikorodu Division Rallies Support for President’s Re-Election Bid In 2027
Senator Mukhail Adetokunbo Abiru has reaffirmed the strong support of Ikorodu Division, Lagos East Senatorial District and Lagos State for the re-election of President Bola Ahmed Tinubu in 2027, highlighting his major achievements in office, which include key economic reforms and stability, social programmes and massive infrastructure development across the country. Speaking at the Ikorodu Division Unites for 2027 Rally in Ikorodu on Monday, Senator Abiru said the gathering reflected the division’s confidence in the President’s Renewed Hope Agenda and its belief in the direction of current national policies. According to the senator, Nigeria faced a critical turning point in 2023 when President Tinubu assumed office amid economic pressures, declining public confidence and structural challenges. He noted that the administration opted for difficult but necessary reforms aimed at stabilising the economy and laying the foundation for sustainable growth. Among the major policy decisions cited were the removal of fuel subsidy, unification of the foreign exchange market and broader economic restructuring. Abiru said these major policy decisions, though initially challenging, have allowed government resources to be redirected toward priority sectors such as education, healthcare, agriculture, infrastructure and social protection.  He pointed to emerging indicators which, according to him, suggest gradual economic improvement. These include stabilising fiscal conditions, record growth in non-oil revenue, five consecutive trade surpluses, stronger external reserves, now at their highest level since 2019, and a significant reduction in Nigeria’s debt service ratio from about 97 per cent to below 50 per cent. The senator also noted that reforms have expanded fiscal space for states and local governments through increased federal allocations, enabling subnational authorities to respond more effectively to local development needs.  Highlighting people-centred initiatives, Abiru referenced the Nigerian Education Loan Fund (NELFUND), which he said has provided educational loans to more than 510,000 students nationwide. He also cited CrediCorp, a federal credit programme that has reportedly disbursed over ₦30 billion in affordable loans to more than 150,000 Nigerians. He added that workers’ welfare has received attention through the introduction of a new national minimum wage of ₦70,000, while the ongoing Project Bridge fibre-optic initiative, a proposed 90,000-kilometre digital infrastructure network, is expected to boost connectivity, innovation and economic inclusion.  Abiru further emphasised the role of the National Assembly in supporting the administration’s agenda. According to him, the 10th National Assembly has provided legislative backing through key laws and reforms, including the Student Loan Act, Electricity Act amendment, Data Protection Act, Nigerian Insurance Reforms Bill, Police and broader security sector reforms, as well as measures aimed at strengthening Nigeria’s startup ecosystem and improving revenue harmonisation. He argued that many of the policies reflect governance strategies previously applied during Tinubu’s tenure as Lagos State governor, which he said are now being implemented at the national level. Reaffirming the political stance of his constituency, the senator said the Ikorodu Division was proud to endorse President Tinubu for re-election in 2027, adding that Lagos East and Lagos State remained supportive of the administration’s development agenda. “From Ikorodu Division, Lagos East Senatorial district, Lagos State and across the country, there is a shared commitment to the President’s vision for a stronger, stable and more prosperous Nigeria,” he said. The All Progressives Congress, APC Chairman in Lagos State, Pastor Cornelius Ojelabi, Members of the prestigious Governance Advisory Council, GAC, Honourable Member, representing Ikorodu Federal Constituency, Hon. Babajimi Benson, royal fathers eminent political and community leaders, also endorsed the president for a second term.
Senator Abiru Highlights President Tinubu’s Economic Reform Gains, Unveils Scorecard at Lagos East APC Stakeholders’ Meeting
The Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA, has said that Nigeria’s economy is stabilising under President Bola Ahmed Tinubu, as key macroeconomic reforms begin to yield positive results. Speaking at the Lagos East Senatorial District APC Stakeholders’ Meeting held on Thursday in Ikosi-Isheri, Magodo, Senator Abiru described President Tinubu’s leadership since May 2023 as the “calm of the storm,” noting that the administration took bold but necessary decisions to avert economic collapse and reposition the country for sustainable growth. According to him, reforms such as fuel subsidy removal, foreign exchange unification, fiscal and tax restructuring have started to produce measurable gains, including easing inflation, particularly food inflation, greater exchange rate transparency, improved external reserves and renewed investor confidence. He added that GDP growth has remained positive and that improved subnational revenues are gradually impacting the micro-economy, easing pressure on households and small businesses.  Abiru, who is the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, urged party leaders to mobilise residents for Independent National Electoral Commission, INEC’s second phase of Continuous Voter Registration and the APC membership e-registration exercise, stressing that data-driven planning is critical to electoral success. He also endorsed the funding structure proposed by the Lagos East APC leadership, emphasising the need for predictable and transparent party financing. Presenting his stewardship, the senator said his representation has been anchored on three pillars: legislation, empowerment and endowment. He highlighted his role in sponsoring and co-sponsoring landmark legislations, including the Insurance Industry Reforms Act and the Copyright Amendment Act, as well as ongoing amendment bills on BOFIA, NEXIM and NAICOM.  On constituency projects, Abiru disclosed that over 35 schools have benefited from classroom construction and rehabilitation, while several health facilities, including 40-bed hospitals and primary health centres across the district, have been constructed or upgraded. He added that about 11 community roads have been completed, with more ongoing, alongside the installation of over 700 solar streetlights, provision of transformers to over 30 communities and construction of 21 motorised boreholes. He further disclosed that 48 cooperative societies, each supported with a ₦10 million take-off grant, amounting to ₦480 million, to boost grassroots economic inclusion was equally launched last December. He added that about 2,000 constituents received empowerment tools like: Freezers, Generators, Ovens, Industrial Sewing Machines and Grinding Machines, among others. While over 80,000 households had so far benefitted from Food Pack schemes, across the district, Abiru informed.  Calling for unity and discipline within the APC, the senator urged stakeholders to continue to support President Tinubu’s Renewed Hope Agenda, stressing that collective effort remains essential for sustained development in Lagos East, Lagos State and Nigeria. Lagos State APC Chairman, Pastor Cornelius Ojelabi, other elders of the party, who are also members of the Governance Advisory Council, GAC, members of the National Assembly, Lagos State House of Assembly, Commissioners, and other cabinet members of the Lagos State Executive Council from Lagos East, Council chairmen, APC LGA chairmen among others were in attendance.
2026: Senator Tokunbo Abiru’s New Year Message
As we step into the year 2026, I extend my heartfelt New Year greetings and warm wishes to the great people of Lagos East Senatorial District, Lagos State, and indeed all Nigerians. The dawn of a new year offers us another opportunity for reflection, renewal and collective resolve as we journey toward progress and prosperity. This year presents an opportunity to consolidate on the gains already recorded, deepen grassroots empowerment, and expand pathways for our vibrant, innovative and enterprising youth to thrive. My commitment remains unwavering: to champion policies that promote economic stability, and inclusive growth, and to ensure that development touches every ward, every community and every household across Lagos East. At the national level, encouraging signs of economic recovery are beginning to emerge, driven by far-reaching reforms aimed at stabilising our economy and laying the foundation for sustainable growth. In this regard, I urge us to continue to support the administration of President Bola Ahmed Tinubu, GCFR, as it implements critical policies to strengthen the economy, improve infrastructure, expand opportunities and secure a more prosperous future for all Nigerians. Our unity as a people remains our greatest strength. Regardless of differences in opinion, background or belief, we must continue to embrace dialogue, tolerance and mutual respect. Our diversity is not a weakness but a powerful asset that, when harnessed through cooperation, enables us to overcome challenges and build a more inclusive, just and forward-looking nation. May the year 2026 bring peace, good health, progress and renewed hope to every home. Happy New Year.
We've Never Had It This Good, Lagos East Constituents Celebrate As Senator Abiru Food Packs Touch 12,000 Families Across 16 LGs and LCDAs
"This is unprecedented, we have never had it this good in the history of Lagos East", this was the common commendation showered on the Senator representing Lagos East Senatorial District, Senator Mukhail Adetokunbo Abiru, FCA, across the 16 LGAs/LCDAs, as 12 households benefitted from the Senator’s End of the Year Food Packs. In total, a whopping 84,000 households had so far benefited from the scheme from inception till day.  **IKORODU** The food packs contain essential staples such as rice and garri, which were distributed across all 16 Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) in the district, bringing relief to thousands of households, many of whom described the support as timely and impactful. The programme targeted the most vulnerable members of the society, including, elderly, widows, persons living with disabilities, women and unemployed youths.  **IBEJU-LEKKI** Each food pack, branded with the Renewed Hope of President Bola Ahmed Tinubu, GCFR, and Senator Abiru’s #DoingGood, underscored the alignment of the Senator with the far-reaching policy direction of President Tinubu’s agenda on food security, social protection and inclusive welfare. To further ensure fairness and transparency, beneficiaries were equally selected through a community-driven process.  **SOMOLU** Residents across Lagos East submitted nominations via an online platform, recommending vulnerable individuals and families within their neighbourhoods. These nominations were randomly shortlisted and beneficiaries emerged cutting across all the 16 LGAs and LCDAs in Lagos East.  **KOSOFE** For many beneficiaries, the initiative went beyond food support, it was a reaffirmation of responsive leadership and compassion-driven representation of Senator Abiru that has continued to touch lives across Lagos East.  **EPE** In addition to food packs, cows were also distributed to certain traditional rulers, party leaders to support festive celebrations.
SAIL EMPOWERMENT FOUNDATION
PROGRAMMES
Register for our #DOINGGOOD programmes powered by SAIL EMPOWERMENT FOUNDATION
Annual bursary- 600
The Senator Abiru Annual Bursary Award was set up to promote higher qualitative education by supporting indigent but brilliant students in furtherance of their academic pursuit in Lagos state-based tertiary institutions.
Msme - 1000 for business aid
This is a capacity development training for 1000 MSMEs with a planned 300 Million Naira Lagos East Business Loan At Concessional 6% Per Annum Interest Rate
Sail (Senator abiru innovation lab)
SAIL, is a dedicated Innovation and tech lab that is providing relevant technology, business and digital skills to tech enthusiasts and young entrepreneurs across the Lagos East Senatorial District.