Business
Afe Babalola to Tinubu: Seek debt relief from international creditors
Afe Babalola to Tinubu: Seek debt relief from international creditors
Founder of Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola, has advised President Bola Tinubu to seek debt relief from international creditors.
He stated this call during the 6th Induction Ceremony of 2023 graduating set of College of Medical and Health Sciences, ABUAD, by the Medical and Dental Council of Nigeria (MDCN) in Ado-Ekiti on Sunday.
He said, “Nigeria is one of the heaviest debtors in the world. I have written articles about it. Let us investigate how we came to several trillions of dollars. What do we spend it on? I can assure you, this money is pocketed by those who said they collected it.
“Let us call on Obasanjo again to advise the present government. When we were in serious trouble in the 90s, after he took over, he went round all the creditors and begged them; one, to peg the interest; two, to even reduce the indebtedness and today, we are better for it.
“Unless we do that, this indebtedness will cripple this country and it will lead to anything. I have seen people especially, in the North who are agitating because of the fact that the naira is getting worse; food prices are high; no employment, and those who get it are not paid. Something has to be done about it.”
He urged President Bola Tinubu to adopt former President Obasanjo’s style, by seeking reduction in the interest of the loan and the loan itself.
This according to him will lessen the burden of the loan on the country and bolster its economic growth.
Babalola also condemned the recent killings of two traditional rulers in Ekiti State and hike in food prices, attributing the phenomenon to the ‘worthless’ value of naira currency which has propelled an average Nigerian to succumb to heinous acts and other criminalities in order to make ends meet.
He urged the Federal Government to intensify efforts at tackling insecurity so that farmers could access their farms without fear and enable all Nigerians to be producers of crops by investing in agriculture.
The legal icon also called on the government to increase the salaries of teachers across all the levels of education to bolster their teaching delivery towards achieving and sustaining quality education in the country, as it has been in the 20th century.
His words: “Monarchs are killed; it is an unusual development. So, what is behind all these is the fact that we have no money, our money has no value; our currency is as worthless as toilet paper. Something has to be done about naira and productivity.
“Farmers have left their farms now because of kidnappers, something has to be done about kidnapping and farmers have to be encouraged to go back to their farms.”
The legal luminary urged the inductees not to contribute to the brain drain syndrome adversely affecting medical profession in Nigeria.
At the 6th induction ceremony, no fewer than 12 students of College of Medicine and Health Sciences of ABUAD bagged distinctions as the Medical and Dental Council of Nigeria (MDCN) inducted 161 students of 2023 graduating set.
The students recorded excellence in courses such as Community Medicine, Surgery, Pathology, Pharmacology, Anatomy, Biochemistry, Physiology and Integrated General Medical Courses.
After the physician pledge, the Registrar, MDCN, Dr Tajudeen Sanusi, condemned the trends of japa syndrome and advised the inductees to return to Nigeria if given placements to train outside the country.
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Auto
Hyundai Unveils Mufasa, Grand Creta SUVs to Strengthen Nigeria Line-up (Updated)
Hyundai Unveils Mufasa, Grand Creta SUVs to Strengthen Nigeria Line-up (Updated)
Hyundai Motors Nigeria has expanded its sport utility vehicle (SUV) range with the introduction of the all-new Mufasa and Grand Creta, offering Nigerian motorists more choices in styling, performance, technology and passenger comfort.
The two models, unveiled in Lagos on Wednesday, are targeted at different customer segments, with the Mufasa designed for motorists seeking a stylish, five-seater SUV, while the Grand Creta offers a three-row, seven-seater configuration suited to larger families and customers requiring additional passenger space.
The launch underscores Hyundai’s efforts to strengthen its presence in Nigeria’s competitive automotive market, where demand for versatile vehicles that combine comfort, safety, performance and practicality continues to shape consumer preferences.
Speaking at the launch, Hyundai Motors Nigeria’s General Manager, Sales and Marketing, Mr Gaurav Vashisht, said the new models reflected the company’s commitment to providing vehicles that meet the changing needs of Nigerian customers.
“The SUV segment continues to attract strong interest in Nigeria, as customers increasingly prioritise comfort, safety, technology and versatility,” Vashisht said.
He also gave a rundown of the two new vehicles’ features even as he stated that the Mufasa and Grand Creta were designed to meet different lifestyle requirements while maintaining Hyundai’s global standards of quality and innovation.
Mufasa targets style-conscious motorists
The Hyundai Mufasa combines bold exterior styling with a spacious cabin and features designed for everyday driving. Its distinctive front grille, signature LED lighting and muscular bodywork give it a commanding road presence.
Power comes from a 2.0-litre Smartstream multipoint fuel injection (MPi) petrol engine paired with a six-speed automatic transmission. Depending on the market specification, the engine produces approximately 150–160 horsepower and 193Nm of torque.
The five-seater SUV measures about 4,475mm in length, with a 2,680mm wheelbase, providing room for passengers and luggage while retaining a practical footprint for urban driving and longer journeys.
Its cabin features a modern dashboard, digital displays and storage spaces, while available equipment, depending on the variant, includes touchscreen infotainment, smartphone connectivity, automatic climate control, wireless charging and selectable driving modes.
Safety and driver-support features include anti-lock braking, electronic stability control, airbags and parking assistance, subject to the vehicle specification.
The Mufasa is positioned as an option for professionals, younger motorists and families seeking a combination of contemporary design, technology and everyday usability.
Grand Creta offers seven-seat flexibility
The Grand Creta complements the Mufasa with a larger cabin and seating for up to seven occupants, making it suitable for families and motorists who prioritise passenger capacity and interior flexibility.
The SUV is powered by an available 2.0-litre Smartstream petrol engine producing approximately 159 horsepower and 191Nm of torque. A six-speed automatic transmission is offered on automatic variant.
Its 2,760mm wheelbase supports a spacious three-row layout, while the flexible seating arrangement allows occupants to adjust the cabin to accommodate passengers or luggage.
Depending on the trim, convenience features include an eight-inch touchscreen infotainment system with smartphone connectivity, rear air-conditioning vents, keyless entry, push-button start and a digital instrument cluster.
Higher-specification versions may also feature leather-appointed seats, ventilated front seats, automatic climate control, wireless charging and a panoramic sunroof.
Safety equipment offered across the range includes six airbags, anti-lock braking, electronic stability control, hill-start assist, rear parking sensors, a rear-view camera and ISOFIX child-seat mounting points.
The model is aimed particularly at larger families seeking additional space and comfort without sacrificing the styling and versatility associated with SUVs.
After-sales support in focus
Beyond the new models, Hyundai Motors Nigeria says it is focused on delivering a comprehensive ownership experience through its authorised dealership network, after-sales services and access to genuine spare parts.
Vashisht said the Mufasa would appeal to customers seeking bold styling, modern technology and dynamic performance, while the Grand Creta would cater to those requiring greater passenger capacity, comfort and versatility.
“Our objective is not simply to introduce new vehicles but to deliver a complete ownership experience,” he said, reaffirming the company’s commitment to building long-term customer confidence in the Hyundai brand.
The two additions expand Hyundai’s existing SUV portfolio, which includes the Creta, Tucson, Santa Fe and Palisade.
Their introduction comes as automakers compete to attract Nigerian buyers with vehicles offering a balance of comfort, safety, technology, performance and long-term ownership value.
With the Mufasa and Grand Creta, Hyundai is seeking to broaden its appeal across different customer categories while strengthening its position in Nigeria’s increasingly competitive SUV market.

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Auto
Happening now: Hyundai unveiling of Mufasa and Grand Creta
Happening now: Hyundai unveiling of Mufasa and Grand Creta (photos)

Two latest models of Hyundai auto brands are currently being officially rolled out in Lagos. The new vehicles are Mufasa and Grand Creta.
The unveiling is taking place at the Hyundai showroom on Akin Adesola Street Victoria Island, Lagos.


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Auto
No 5% Petrol Tax Plan, Oyedele Says, Amid Public Concerns
No 5% Petrol Tax Plan, Oyedele Says, Amid Public Concerns
The Federal Government has no plan to introduce a new tax on petrol, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said, dismissing reports that the administration of President Bola Tinubu intends to impose a five per cent levy on petroleum products.
Oyedele clarified the issue in a statement posted on his X account on Tuesday, insisting that a fuel tax was not being considered by the government.
“In my interview with ARISE News, I was clear: a fuel tax is not on the table,” he said.
His statement follows reports linking him to the proposed five per cent tax, which sparked concerns about a possible increase in the cost of petrol amid Nigeria’s persistent cost-of-living crisis.
Petrol prices have remained a major driver of transportation and distribution costs since the removal of the fuel subsidy, contributing to higher prices of food and other essential goods and services.
The prospect of an additional levy had raised fears that households and businesses could face further financial pressure.
However, Oyedele’s clarification indicates that the Federal Government is not currently considering the proposed fuel tax, amid broader efforts to reform Nigeria’s tax system and strengthen public finances.
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