First HoldCo: Otudeko, Odukale Sell Off Substantial Stakes; Otedola Takes Control
First HoldCo Plc, the parent company of Nigeria’s oldest financial institution, First Bank of Nigeria Limited, has witnessed a significant shift in its ownership structure as key shareholders, Oba Otudeko and Oye Hassan-Odukale, have divested their huge stakes. This landmark transaction, executed through a series of off-market negotiated deals, has cleared the path for billionaire businessman Femi Otedola, the current chairman, to consolidate his control over the financial powerhouse. The news was met with immediate positive sentiment in the market, with First HoldCo’s share price surging by 9.9% to N32.2 per unit on the Nigerian Exchange (NGX) following the announcement, pushing its market capitalization beyond N1.3 trillion. This robust performance underscores investor confidence in the newfound stability and strategic direction anticipated under Otedola’s leadership. Meanwhile, confirmed exit of Oba Otudeko, a former chairman of First Bank, involved a colossal N323.33 billion transaction, with 10.43 billion ordinary shares changing hands in 17 off-market deals at an average price of N31 per share. This represents approximately 25% of the group’s issued share capital. While the acquirer’s identity was not immediately disclosed in regulatory filings, market speculation and subsequent reports strongly indicate that Femi Otedola was the primary beneficiary, significantly increasing his shareholding from an initial 15% to an estimated 40% of the company. Oye Hassan-Odukale also reportedly sold his 5.36% stake, further cementing Otedola’s dominant position. This development brings to a close years of boardroom skirmishes and shareholder disputes that have often overshadowed First HoldCo’s operational focus. Oba Otudeko’s re-entry into the major shareholder league in July 2023, acquiring 4.7 billion shares, had reignited a protracted governance battle. Prior to this, Otedola had emerged as the single largest shareholder in December 2021. The latest divestment by Otudeko and Odukale is widely seen as a resolution to these long-standing conflicts. Market analysts believe this strategic ownership shift will usher in a new era for First HoldCo, characterized by enhanced stability and a clearer strategic vision. The increased influence of Femi Otedola is expected to bring a renewed focus on long-term growth strategies, potentially mirroring the success he has achieved in other ventures. However, First HoldCo still faces the immediate challenge of meeting the Central Bank of Nigeria’s (CBN) recapitalization directive, which mandates all banks to achieve a minimum capital base of N500 billion. As of June, First HoldCo had reportedly raised N346 billion, leaving a shortfall that will need to be addressed to meet regulatory requirements. The exit of these long-standing shareholders marks a pivotal moment in First HoldCo’s history, signaling the end of an era of contentious ownership and the beginning of what many hope will be a period of sustained growth and stability under a more consolidated leadership.
Nigeria: AFDB Leads $263million Five-year Urbanization Funding in Abia state
The Africa Development Bank and Partners commits $263.8 Million for Infrastructure Project in Abia State, south-eastern Nigeria. marking a significant stride in the state urban development agenda with the Integrated Infrastructure Development Project. The five-year project, a collaborative effort between the African Development Bank (AfDB), the Islamic Development Bank (IsDB), Nigeria’s Federal Government, and the Abia State government, aims to modernize urban infrastructure, enhance mobility, and foster inclusive, climate-resilient growth in the cities of Umuahia and Aba. Statement released on Wednesday by the AFDB noted the project will directly confronts longstanding infrastructure deficiencies in urban transport, erosion control, and waste management that have hampered mobility, public health, and economic productivity in Abia State. Over the next five years, it will see the rehabilitation of more than 248 kilometers of roads in Umuahia and Aba, the restoration of two critical erosion sites, and the catalysis of private sector investment in solid waste management through public-private partnerships. Funding for this ambitious undertaking is robust and diversified. The African Development Bank is contributing $115 million, comprising $100 million from its ADB window and $15 million from the Canada-AfDB Climate Fund (CACF). The Islamic Development Bank is co-financing with a substantial $125 million, while the Federal Government of Nigeria is providing $23.8 million in counterpart funding. Abia State, like many burgeoning regions, has grappled with mounting infrastructure challenges due to rapid urban expansion, environmental pressures, and historical underinvestment. Cities like Umuahia ( state capital)and Aba have faced aging road networks, persistent erosion threats, and overburdened waste management systems. This project signals a decisive shift towards an integrated, climate-resilient approach to urban development, designed to support inclusive growth and long-term sustainability. Speaking on the latest development, Dr. Alex C. Otti, Governor of Abia State, emphasized the significance of the initiative for the State’s infrastructure renewal. He stated, “The fruits of development are richer when supported by partners who believe in your vision. We are focused on raising living standards, expanding access to education and healthcare, and driving economic productivity. Investor confidence is growing, public optimism is rising, and Abia is emerging as a destination of choice for opportunity and impact.” Beyond the physical infrastructure, the project is designed with a strong focus on job creation and skills development. It is anticipated to generate over 3,000 temporary jobs during the construction phase, with a commitment to reserving 30 percent of these for women. Furthermore, approximately 1,000 permanent jobs will be created during the operational phase, with a key feature being that 50 percent of these roles will be allocated to young people. These young individuals will receive training through the State Youth Road Maintenance Corps, a new cadre of local engineers drawn from all 17 Local Government Areas of Abia State. Dr. Akande Oyebola, Assistant Director at the International Economic Relations Department of the Federal Ministry of Finance, reaffirmed the Nigerian Government’s commitment to the project, saying, “This initiative represents a significant milestone in our collective effort to drive economic growth, strengthen infrastructure, and improve the quality of life for the people of Abia State.” Dr. Abdul Kamara, Director General of the African Development Bank’s Nigeria Country Department, commended the leadership of both the federal and state governments. He remarked, “This project is rooted in partnership, ambition and long-term impact. At its core, this project is about lives, it is about reducing travel time by half, increasing incomes, improving access to schools and hospitals, and creating space for entrepreneurs, particularly women and youth, to thrive.”
Nigeria’s Inflation Eases to 22.22% in June 2025
Nigeria’s headline inflation rate saw a notable decrease in June 2025, easing to 22.22% from 22.97% in May 2025. This represents a 0.75% decline compared to the previous month’s headline inflation rate. On a year-on-year basis, the June 2025 headline inflation rate was 11.97% lower than the 34.19% recorded in June 2024. Report from Nigeria Bureau of Statistics (NBS) released today, shows a closer look at the data reveals an uptick in month-on-month inflation. The headline inflation rate for June 2025 was 1.68%, a 0.15% increase from the 1.53% recorded in May 2025. This indicates that “the rate of increase in the average price level was higher than the rate of increase in the average price level in May 2025.” The Consumer Price Index (CPI) itself rose to 123.4 in June 2025, marking a 2.0-point increase from 121.4 in May. The CPI serves as a key macroeconomic indicator, measuring changes in the average prices of goods and services commonly purchased by consumers, relative to a 2024 base period. The inflation rate is directly computed from this index, representing the relative change in CPI between periods, reported both year-on-year and month-on-month. Key Contributions to Inflation: At the divisional level, “Food & Non-Alcoholic Beverages” continued to be the primary contributor to year-on-year headline inflation at 8.89%. Other significant contributors included: On a month-on-month basis, “Food & Non-Alcoholic Beverages” also led with a 0.67% contribution. However, the report shows that Urban inflation on a year-on-year basis in June 2025 was 22.72%, a decrease of 13.83% points from 36.55% in June 2024. The urban month-on-month inflation rate increased to 2.11% in June 2025, up by 0.71% from May 2025 (1.40%). Rural inflation, year-on-year, stood at 20.85% in June 2025, 11.24% points lower than the 32.09% recorded in June 2024. Conversely, the rural month-on-month inflation rate decreased to 0.63% in June 2025, down by 1.2% compared to May 2025 (1.83%). Meanwhile, year-on-year Food inflation rate in June 2025 was 21.97%, a significant drop of 18.93% points compared to 40.87% in June 2024. This substantial decline is attributed to a “change in the base year.” However, the month-on-month Food inflation rate in June 2025 increased to 3.25%, up by 1.07% from 2.19% in May 2025. NBS data shows this increase was primarily driven by rising average prices of items such as “Green Peas (Dried), Pepper (Fresh), Shrimps (white dried), Crayfish, Meat (Fresh), Tomatoes (Fresh), Plantain Flour, Ground Pepper, etc.” Core inflation, which excludes volatile agricultural produces and energy prices, was 22.76% yearon-year in June 2025. This represents a decline of 4.64% compared to 27.4% in June 2024. Monthon-month, core inflation was 2.46% in June 2025, an increase of 1.36% from May 2025 (1.10%). Across Nigeria, Borno, Abuja, and Benue recorded the highest year-on-year “All Items” inflation rates in June 2025, at 31.63%, 26.79%, and 25.91% respectively. Conversely, Zamfara (9.90%), Yobe (13.51%), and Sokoto (15.78%) experienced the slowest rise in headline inflation on a year-onyear basis. For month-on-month “All Items” inflation, Ekiti (5.39%), Delta (5.15%), and Lagos (5.13%) saw the highest increases. Meanwhile, Zamfara (-6.89%), Niger (-5.35%), and Plateau (-4.01%) recorded declines in month-on-month inflation. In terms of food inflation, Borno (47.40%), Ebonyi (30.62%), and Bayelsa (28.64%) had the highest year-on-year rates. Katsina (6.21%), Adamawa (10.90%), and Sokoto (15.25%) recorded the slowest year-on-year food inflation. Month-on-month food inflation was highest in Enugu (11.90%), Kwara (9.97%), and Rivers (9.88%), while Borno (-7.63%), Sokoto (-6.43%), and Bayelsa (-6.34%) experienced declines.
Nigerian Stock Market Sees Strong Growth in First Half of 2025
The Nigerian stock market experienced significant growth in the first half of 2025, a performance attributed by Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), to a deliberate focus on structural reforms and strong regulatory engagement. The first half of 2025 showed strong momentum across various asset classes. The total market capitalization of instruments listed on the NGX increased by 16%, rising from N112.60 trillion in January to N126.73 trillion by June. This growth was primarily driven by equities, which saw an increase from N62.76 trillion to N75.95 trillion. Fixed income remained stable at N50.56 trillion, and Exchange Traded Funds (ETFs) gained traction among retail investors, growing to N25.79 billion. According to a statement from the NGX on Wednesday, Mr. Popoola committing on the performance, said, “We have worked closely with the Securities and Exchange Commission to enhance market transparency, drive product diversification, and strengthen investor protections. Our aim is to build a market that competes globally while remaining inclusive and resilient.” NGX Group, which includes Nigerian Exchange Limited (NGX), NGX Regulation (NGX RegCo), and NGX Real Estate (NGX RelCo), has adopted a multi-layered approach to market development. The Group is strategically positioned to support Nigeria’s economic ambitions through a more efficient and accessible capital market by championing product innovation, advocating for favorable policies, and reinforcing investor confidence. Over N4.63 trillion in capital was raised through the exchange in the first half of 2025, encompassing both corporate and sovereign instruments. This capital has been crucial in financing infrastructure, supporting enterprise growth, and spurring innovation. Part of this success is linked to strategic initiatives launched in 2024, such as NGX Invest. This digital platform was created to simplify participation in public offerings. Since its introduction, NGX Invest has expanded access to primary market instruments and played a central role in the ongoing banking sector recapitalization, facilitating over N2 trillion in capital raised. David Adonri, Vice Chairman of Equity Capital Solution Limited, observed, “The equities market appreciated by 16.6 per cent in the first half, with Q2 alone contributing 13.6 per cent. Stabilising interest rates and foreign exchange conditions have restored investor confidence, particularly among foreign portfolio investors.” Sectoral performance further underscored the overall market optimism. The NGX Consumer Goods Index advanced by 51.21%, while the NGX Pension and Banking indices rose by 19.32% and 18.06%, respectively, indicating resilience across key sectors.
Senegal’s Bonds Sold-out, Amid Global Downgrade
By: Nwali Chidozie The west African nation demonstrated its bold appeal to investors, successfully raising 364 billion CFA francs (approximately $644 million) in its second public bond offering of 2025, the government noted on Tuesday. This impressive figure not only surpasses the initial target of 300 billion CFA francs but also signals strong confidence in the Senegal’s economic trajectory; following earlier sovereign rating downgrade by S&P global. The bond issuance, which ran from June 19 to July 8, was strategically designed to diversify budget financing sources, deepen the domestic capital market, and optimize public debt management. It comes at a pivotal time for Senegal, as the country is projected to be one of Africa’s fastest-growing economies in 2025, with real GDP growth anticipated to reach as high as 9.3%, largely driven by the commencement of oil and gas production from its offshore fields. The oversubscription of this bond by 21.3% underscores a robust demand from both domestic and regional investors, a testament to Senegal’s improving economic fundamentals despite a challenging global economic climate and recent re-evaluations of its public debt. “In a challenging economic environment, this fundraising effort enhances the credibility of Senegal’s financial signature,” stated Senegal’s Ministry of Finance in a recent statement, highlighting the significance of the achievement. However, success follows a similar oversubscription in March 2025, where Senegal mobilized 405 billion CFA francs through a syndicated operation. The government has affirmed that the proceeds from these bond sales will be directed towards crucial public finance recovery efforts, economic stimulus measures, and optimizing debt servicing. Priority sectors earmarked for funding include education, health, infrastructure, water access, energy, agriculture, and digital technology. As international attention increasingly focuses on Senegal, its ability to consistently attract significant investment through such offerings reinforces its position as a promising economic hub in West Africa. Senegal suffers Global rating downgrade. Senegal has earlier been hit with significant downgrade by S&P Global; downgraded Senegal’s sovereign credit rating from ‘B’ to ‘B-‘, simultaneously revising its debt outlook to negative. This decision, announced on Monday, July 14, 2025, reflects deepening concerns about Senegal’s escalating debt levels. The downgrade was largely triggered by a recent audit of government accounts which unveiled a substantially higher debt-to-GDP ratio than previously understood. S&P now estimates Senegal’s government debt stood at a striking 118% of Gross Domestic Product (GDP) at the end of 2024, a considerable jump from the earlier forecast of 104%. This revised figure also places Senegal’s debt burden as the highest among all African countries rated in the ‘B’ category by S&P. The audit further indicated that debt added through these revisions since October 2024 amounts to nearly 8.3 trillion CFA francs, roughly $13 billion. S&P’s negative outlook signals apprehension that elevated debt, coupled with higher-than-expected financing requirements for the current year and substantial debt payments due next year, will intensify funding pressures on the Senegalese government. The global rating institution also noted that Senegal’s external financing needs materially exceed previous estimates, which could complicate ongoing negotiations with the International Monetary Fund (IMF) for a new support program. In response to the downgrade, Senegal’s Ministry of Finance issued a statement acknowledging S&P’s decision. The ministry “reaffirmed its commitment to budgetary transparency” and sought to “reassure all its partners of the state’s ability to meet its commitments.” Furthermore, the ministry emphasized that discussions with the IMF are continuing “proactively and constructively,” with the aim of expediting an IMF Board meeting to address the misreporting of its debt levels. Furthermore, the Finance ministry also highlighted a miscalculation in the GDP and debt relation, by the Global rating agency, stating that “debt-to-GDP ratio increase does not yet take into account the expected results of the rebasing exercise of the GDP.” This means that Senegal is currently in the process of using a more sophisticated, and accurate method to recalculating its GDP growth; also noting that “This exercise, in preparation for some time, will make it possible to have a more precise picture of the size of the Senegalese economy by adopting a perimeter aligned with its economic development level.”
Nigeria Achieves OPEC Quota, Signaling Resurgent Oil Production
Nigeria has successfully met its output quota set by the Organization of the Petroleum Exporting Countries (OPEC), achieving a daily crude oil production of 1.505 million barrels per day (bpd) in June 2025. This achievement, confirmed by OPEC’s latest Monthly Oil Market Report released on Tuesday, marks the second time Nigeria has hit its 2025 target, following an earlier success in January. The June figures represent a notable resurgence for the West African nation, which has grappled with consistent production shortfalls throughout the preceding year. According to the OPEC report, Nigeria’s average daily crude oil production for June saw a 3.58 percent increase from the 1.453 million bpd recorded in May, marking its highest monthly output since January. OPEC, in its report, highlighted that “the data was obtained directly from Nigerian authorities,” underscoring the transparency and direct communication in reporting these figures. This accomplishment comes after OPEC initially set Nigeria’s production quota at 1.5 million bpd during its November 2023 ministerial meeting, a target that was subsequently extended through 2026. However, the consistent underperformance in 2024 had raised concerns, making this recent attainment particularly noteworthy for both Nigeria and the broader oil market. Beyond direct communication, OPEC also incorporates data from secondary sources, such as energy intelligence platforms. These estimates provided a slightly higher figure for Nigeria’s June output, placing it at 1.547 million bpd, an increase of 1.24 percent from 1.528 million bpd in May. “With the current production level,” the global oil organization noted, Nigeria “maintained its position as Africa’s leading oil producer,” surpassing Algeria, which reported an output of 927,000 bpd. While meeting the OPEC quota is a significant step, Nigeria’s journey towards maximizing its oil potential continues. The nation’s internal target, as stipulated in its 2025 budget, stands at a more ambitious 2.06 million bpd. Furthermore, the Nigerian National Petroleum Company Limited (NNPCL) has reportedly outlined plans to increase the country’s crude oil production quota from 1.5 million bpd to 2 million bpd by 2027, signaling a strategic drive for sustained growth in the coming years. The improved production in June 2025 positions Nigeria favorably as it works towards these higher domestic and strategic objectives.
Cutting-Cost: Ghana Stops Fuel Allowances to Political Appointees
Ghanaian President, John Dramani Mahama has, effectively ordered the cancellation of fuel allowances and allocations for all political appointees. This directive forms a crucial part of a broader government strategy to curb expenditure and reallocate public funds towards critical “priority areas”. Fresh statement from the Presidency noted the move takes effect from Tuesday. This latest prudential measure builds upon significant steps already undertaken by the Mahama administration since taking office. Earlier initiatives included a substantial reduction in the size of government, notably trimming the number of ministerial appointees to 60, roughly half of what his predecessor had appointed. Furthermore, the government has already ceased satellite TV subscriptions for offices at the Presidency and other state facilities, underscoring a consistent drive towards fiscal prudence. The west African country’s economy has faced persistent challenges, including high public debt, volatile commodity prices, and the need for significant fiscal adjustments to maintain stability and comply with International Monetary Fund (IMF) program requirements. Ghana has been working to transition from an economy heavily reliant on gold, crude oil, and cocoa exports, which exposes it to global price shocks. Recent reports, however, indicate signs of recovery, with Ghana’s GDP growth in Q1 2025 surpassing initial forecasts, driven by strong performance in sectors beyond traditional exports like fishing, mining, and manufacturing. The Ghanaian Cedi has also shown appreciation against the US dollar in 2025, supported by improved trade surpluses and increased international reserves. Despite these positive economic indicators, the cancellation of fuel allowances is a direct response to the need for continued fiscal consolidation and efficient resource allocation. It aims to instill greater accountability and demonstrate that the administration is serious about managing national resources responsibly. By cutting these perks, President Mahama seeks to free up funds that can be channeled into essential development projects, social services, and initiatives like the proposed “24-Hour Economy” plan, which aims to boost productivity and create jobs. This ongoing emphasis on austerity measures and fiscal responsibility is vital for Ghana’s long-term economic stability and sustainable growth, aligning with both domestic policy objectives and commitments under its IMFsupported reform program.
Nigeria Halts Institutional-corporate Activities to Mourn Former President Buhari
The federal government of Nigeria declared Tuesday public holiday; Public institutions across Nigeria suspends activities, as the nation observes a period of deep mourning following the death of former President Muhammadu Buhari, who died on Sunday at a clinic in London, and will be laid to rest on Tuesday at his hometown in Daura, Kastina state. The Nigerian leader passed away on Sunday, July 13, 2025, in London at the age of 82, prompting an outpouring of grief and a directive from the Federal Government to honor his memory. President Bola Ahmed Tinubu declared a seven-day period of national mourning, beginning immediately, during which flags are to fly at half-mast across the country. As a further mark of respect, the Federal Government announced Tuesday, July 15, 2025, as a public holiday. The impact of these directives was immediately felt. The National Assembly, a key arm of government, suspended all legislative activities for one week, rescheduling its plenary session from Tuesday, July 14, to Tuesday, July 22. Alongside, all banks, schools and other institutions will be closed tomorrow in respect to the burial of the late president tomorrow. Barrister Kamoru Ogunlana, the Clerk of the National Assembly, stated that the decision was made by the leadership of both chambers to allow full participation in the burial activities of the former President. Similarly, state governments have joined the national mourning. Katsina State, Buhari’s home state, announced Tuesday, July 15, as a public holiday and confirmed that the late President would be laid to rest in his hometown of Daura at 2:00 p.m. on that day, following the arrival of his remains at 12 noon. Governor Dikko Umaru Radda described Buhari as a “national icon” whose legacy would be etched in Nigeria’s history. Beyond government offices, various organizations and professional bodies have also expressed their sorrow and suspended non-essential operations. The Nigerian Bar Association (NBA) issued a statement mourning Buhari’s passing and calling on Nigerians to reflect on his enduring values of national unity, public service, and accountability. The All Progressives Congress (APC) – His political party, also closed its national secretariat for three days in honor of its former leader. Tributes have poured in from within Nigeria and globally, recognizing Buhari’s contributions during his time as a military Head of State (1984-1985) and as a democratically elected President (2015-2023). President Tinubu hailed him as a disciplined patriot, while the Economic Community of West African States (ECOWAS) and various religious leaders lauded his commitment to national unity and regional integration. As the nation prepares for the final rites, the widespread closure of public institutions serves as a stark visual representation of the profound sorrow felt by many Nigerians at the loss of a leader who, for good or ill, left an indelible mark on the country’s history.
Tourism Displaces Gold as Tanzania Leading Foreign Exchange Earner
Tanzania’s economic landscape has undergone a significant transformation, with the tourism sector officially outperform gold as the nation’s primary source of foreign exchange. This pivotal shift, confirmed by the Bank of Tanzania’s (BoT) latest Monthly Economic Review, underscores a successful diversification strategy and a robust recovery within the tourism industry. The year ending May 2025, tourism revenues soared to $3.92 billion, a substantial increase from $3.63 billion in the preceding year. This growth was fueled by a notable rise in international arrivals, reaching 2,170,360, and narrowly surpassed gold exports, which stood at $3.83 billion during the same period. This development highlights the increasing efficacy of governmental policies and targeted investments in the tourism sector, while simultaneously prompting a re-evaluation of the gold sector’s role and its potential for enhanced value addition. In 2024, Europe remained the largest source of tourists to the east African Nation, accounting for 39.6% of arrivals, followed by North America at 18.3% and Asia at 14.2%. African tourists constituted 21.7% of the total arrivals. Historically, gold has been a foundational pillar for the East African country’s foreign exchange earnings, contributing substantially to the national economy; in 2019, gold exports alone accounted for $2.2 billion, representing over 90% of the country’s total mineral exports. Even as recently as 2022/2023, gold exports were valued at $2.86 billion, further increasing to $2.95 billion in 2023. This long-standing dominance positioned the mining sector as a critical driver of the nation’s foreign currency reserves. In 2024, Europe remained the largest source of tourists to the east African Nation, accounting for 39.6% of arrivals, followed by North America at 18.3% and Asia at 14.2%. African tourists constituted 21.7% of the total arrivals. However, the latest data from the Bank of Tanzania signifies a historic turning point, with tourism now holding the premier position, underscoring Tanzania’s evolving economic structure and its increasing potential for diversified and sustainable growth. By leveraging its rich natural and cultural assets, the nation is successfully pivoting towards a broader base for economic prosperity, thereby reducing its historical over-reliance on a single commodity. Looking at calendar year data, tourist arrivals increased by 24.3% to a record-breaking 1,808,205 in 2023 from 1,454,920 in 2022, with revenues for 2023 reaching a record-high. The tourism sector has shown an extraordinary recovery from the severe impact of the COVID-19 pandemic, which saw revenues plummet to $1 billion in 2020 from a peak of $2.6 billion in 2019. By early 2025, Tanzania had already surpassed its target of 5 million international visitors for the 2025 fiscal year, reaching 5.3 million by April 2025, three months ahead of schedule.
No End in Sight? World Oldest Leader Paul Biya Seeks Re-Election
At 92 years old, Paul Biya, the enigmatic figure who had governed Cameroon for over four decades, declared his intention to seek an eighth term as president in the upcoming October 12, 2025 general elections. The news came not from a grand rally or a televised address, but from a statement posted on his official social media account– X (formerly Twitter) and other platforms. “I am a candidate in the presidential election,” the post read, followed by a pledge: “Rest assured that my determination to serve you commensurate with the serious challenges facing us.” He noted. However, for many, the announcement was met with a weary sense of déjà vu. Biya, already the world’s oldest serving head of state, had become a fixture, a seemingly unmovable force in Cameroonian politics since taking office in 1982. His prolonged absences from public view and persistent rumors about his health had fueled speculation for years that this election might finally mark a transition. Yet, here he was, once again throwing his hat into the ring. Supporters of the ruling Cameroon People’s Democratic Movement (CPDM) immediately rallied, their voices echoing the sentiment that “much remains to be done” and that Biya’s unparalleled experience was essential in a volatile international environment. They pointed to the calls from all ten regions of the country and the diaspora, praising his decision as a patriotic response to the people’s will. Meanwhile, the opposition, a fractured but increasingly vocal chorus, met the news with a mixture of exasperation and renewed determination. Maurice Kamto of the MRC, Cabral Libii of the PCRN, and other declared candidates, some of whom were once Biya’s allies, decried the move as a blatant attempt to perpetuate an entrenched system that had, in their view, stifled economic growth, democratic processes, and true accountability. Human rights advocates and civil society groups swiftly condemning and describing the move as “stalled political transition.” The coming months promised to be fraught. Biya’s campaign platform, yet to be unveiled, would likely focus on stability and continuity, while the opposition geared up to highlight issues like corruption, poverty, and the ongoing secessionist movement in the English-speaking regions, which had been a persistent thorn in the government’s side. As the deadline for candidate submissions ends on July 21st, and the official campaign period set to commence on September 17th, the stage is set for a unique electoral battle. The world watched, not just to see who would emerge victorious, but to witness a nation grapple with its past, present, and the prospect of a future potentially still defined by the enduring legacy of Paul Biya.