By Ed Malik, A | ed@ddnewsonline.com | posted 27th June, 2025
At the 2025 Annual Business Summit of the Capital Market Solicitors Association (CMSA), held on June 25 at the Oriental Hotel in Victoria Island, Lagos, former Governor of Bauchi State, Mohammed Abubakar, raised critical concerns over the influence of foreign interests in Nigeria’s ongoing insurgency crisis.
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During a sideline interview with journalists, Abubakar called for a thorough investigation by the Federal Government into disturbing allegations that external actors may be aiding insurgents in Nigeria. He cited circulating social media videos that purportedly show helicopters delivering supplies to bandits and insurgents in remote areas.
His comments added a security-focused dimension to the summit, which otherwise centered on innovative financial instruments and capital market growth for sustainable development, suggesting there is more to the insecurity in the country than meets the eye, and that is why the efforts of the Federal Government have not been noticed greatly by Nigerians, alluded Abubakar said, emphasizing the need for transparency and vigilance.
L-R: Vincent Iweze; Representative of Minister of State for Finance, Peter Olusegun Awoyemi; and Sir Anthony Idigbe, SAN
“I believe when we tackle the hidden hands that are participating in the security situation, we’ll find a solution altogether.”
When asked by a reporter who he thought the hidden hands were, Abubakar remarked that, “You hear of international influence on security you know? You hear of people sending videos around showing that the bandits or the insurgents are being assisted from abroad with helicopters landing and giving them supplies, etc., etc. So, that aspect has to be ascertained by government investigating it.
“Whether it is true or not, we must be able to put our finger on that. The more we do, then we can be able to conquer the insecurity in the country.”
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The former governor’s comments also touched on two critical aspects of Nigeria’s evolving democratic and governance landscape; political party defections and power sector reforms, bringing out some insightful observations.
On recent political defections, the former governor, emphasized that the political terrain is not static in Nigeria, stating that the politician can move, but the Nigerian people are static, intelligent and know where to go when the time comes to vote.
L-R: Panelist, Dr Emomotimi Agama; Panelist, Jumoke Olaniyan; Panelist, Abiola Hameed, Panelist, Nkechi Obi; Moderator: Mabel Okereke, during the opening ceremony of 2025 Capital Market Solicitors’ Association Annual Business Summit at Lekki, Lagos on Wed June 25, 2025.
His comment reflects a pragmatic view that Nigeria’s democracy is still maturing and hence, the instability in party structures. Politicians may shift alliances, but voters’ awareness and judgment remain critical. His statement indirectly encourages political accountability, suggesting that voters will remember and react accordingly during elections.
On the power sector reforms, the speaker applauds the constitutional amendment and Electricity Act reforms, which now empower state governments (“subnationals”) to generate, transmit, and distribute electricity independently of the federal government.
L-R: Representative of Minister of State for Finance, Peter Olusegun Awoyemi; and former Governor of Bauchi State, M.A. Abubakar, SAN
“One realizes the recent amendment of the constitution, removing power from the exclusive list and taking it to the concurrent legislative list, which now opens up space for subnationals to participate in this sector.
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Coupled with the fact that the Electricity Act was also amended and it has been made receptive for participation by subnationals in the sector. As it is, if you have heard, already some subnationals, some states, are gearing up to participate fully in this sector.
“And I feel happy about that, happy for Nigerians, that probably for the first time, we are going to conquer this issue of stable power supply in Nigeria.”
L-R: Adeniyi Duale; Sola Ephraim-Oluwanuga; Johnson Akinnawo FCA, CFAN; Simisola Eyisanmi; Vincent Iweze
Further, he said: “In the past, you can only generate electricity outside the Federal Government, but you cannot distribute electricity. But today, you can do all that. And in doing that, the act has allowed you to attract investment from outside Nigeria to be able to stabilize power supply.”
His prayer is that, decentralization of power regulation can lead to more efficient and localized energy solutions, whereby States with the capacity to invest in electricity infrastructure can now act without waiting for the federal bureaucracy. Already media reports, suggest that several states are reportedly preparing to enter or expand their role in the electricity sector, potentially reducing the longstanding issue of national grid failures.