Says national assembly weak, govt’s three arms now reduced to just the executive Queries coastal road project, declares it lacks due process
describing it as weak and ineffective,
Urges Nigeria, Others to Enhance Fiscal Buffers
Eromosele Abiodun and Nume Ekeghe in Washington DC
of
L-R: Director-General, National Emergency Management Agency (NEMA), Mrs. Zubaida Umar; Director, Planning, Research and Forecasting, NEMA, Dr. Onimode Bandele; and Director, Human Resources Management, NEMA, Dr. Umesi Emenike, during the NEMA 2025-2029 Strategy Plan Validation Workshop in Abuja, yesterday
Says using substandard materials akin to sitting on time bomb Lauds FG for support, seeks more funding Commences inspection of samples of 3.2m meters
Emmanuel Addeh in Abuja
Nigerian Electricity Management Services Agency (NEMSA), saddled with the enforcement of technical standards in the power sector, yesterday, disclosed that at least eight Distribution Companies (Discos) had so far been audited to ensure strict compliance with safety requirements.
Speaking during an interview with journalists in Abuja, Managing Director of the agency, Aliyu Tukur, stated that reported cases of injuries and deaths linked to the power sector could be avoided if industry players adhered strictly to standards set by NEMSA.
After a review of mishaps in the sector, the chief electrical inspector of the federation explained that it was found that a number of the safety manuals and codes operated by the utility companies were outdated, prompting an immediate overhaul.
He stated, “When we did the analysis of all the incidents we’ve investigated so far, we discovered that there are a lot of them that involve the personnel of the utility companies. And when we now drilled down, we discovered that most of the causes were due to lack of adherence to approved procedures, safety requirements in operations and maintenance of these networks.
“So we now had to look at their safety manuals. First of all, we ensured that the utility companies had all safety manuals, where all these procedures and
safety requirements are well defined. At the end of that, we now had to carry out audits of these utility companies to ensure that they are implementing the provisions of those safety manuals.
“We’ve audited about eight of them so far.”
Tukur added, “This exercise is still ongoing. And we’ve made a lot of observations through this audit exercise. One of the observations is that we have what we call the health and safety codes that were developed by the Nigerian Electricity Regulatory Commission (NERC). So it’s part of those documents that contain the regulations.
“And we had to enforce the regulations. So we discovered that some of these safety manuals were not actually in line with the health and safety codes of the country. We had to review them and make sure that they were in line with the health and safety codes of the country.”
While the other Discos were currently being audited, the NEMSA chief executive stated that the agency observed that training of distribution companies’ personnel on key procedures concerning safety requirements had been lacking.
Aligning with Minister of Power, Chief Adebayo Adelabu, on the liquidity issue in the power sector, Tukur stated that when there was no money, it will be difficult for the utility companies to do the necessary investment to revamp the network and carry out
rehabilitation works.
He stated, “So, that has also affected the electricity networks in the country. As soon as this is resolved, I’m sure there will be enough investment in the network that will now continue to have rehabilitation, replacement of aging electrical materials and equipment in the networks.”
Tukur maintained that the deployment of non-certified personnel to carry out installations put many people at risk, likening the situation to wearing
a time bomb.
He stated, “The first thing is that you are now at risk, because you are not sure whether the job they did is in line with the regulations and standards.
“So, it’s just like wearing a time bomb, and a time bomb that you don’t even know the time it will explode, it’s more risky than the one that you know the time because you can run away. This thing can happen in the night.”
Stressing that NEMSA certification was globally recognised, Tukur said anyone with the agency’s certificate could work anywhere globally confidently.
He urged all those interested to check out the process for certification by the organisation.
While praising the federal government for its support so far, Tukur listed some of the challenges facing the organisation as lack of permanent office accommodation, inadequate
funding, and understaffing. He disclosed that samples of the 3.2 million meters under the World Bank Distribution Sector Reform Programme (DISREP) were currently in its laboratory for testing and certification.
“All these meters that are coming in, we will ensure they are tested and certified before they are allowed to be deployed. Those that are coming under the World Bank programme, we are already in the process of certifying them,” Tukur explained.
James Emejo in Abuja
Fertiliser Producers and Suppliers Association of Nigeria (FEPSAN) yesterday assured Nigerian farmers of seamless supply of quality and affordable fertilisers in the 2025 farming season.
President of the association, Mr. Sadiq Kassim, said it was collaborating with government agencies and private sector stakeholders to ensure timely delivery and support for increased agricultural productivity, in line with the food security agenda of the current administration.
Speaking at a media briefing in
Abuja, Kassim also unveiled the industry’s value proposition for the year.
He said the association was ready to boost the value of the country’s non-oil exports, which peaked at $5.456 billion in 2024.
Kassim said the association had the capacity to increase the contribution of urea/fertiliser from the 15.74 per cent in 2024, underscoring the pivotal role of agriculture in economic diversification efforts.
He stressed that as the 2025 farming season commenced in earnest, the fertiliser industry was working with key partners in government, putting
measures in place to ensure a hitch free exercise.
He said, “The association is grateful for the immense support that the President Bola Ahmed Tinubu-led government continues to give to ensure that investments in the Industry thrive and, more importantly, farmers have timely access to affordable, quality fertilisers to boost productivity and ensure food security.
“The Presidential Fertiliser Initiative (PFI) is being strengthened to make it more efficient to meet the demand of manufacturers and blenders in Nigeria.”
Kassim added, “Arrangements
Kayode Tokede
The shareholders of Guaranty Trust Holding Company (GTCO) Plc, yesterday, approved the payment of a total dividend of N8.03 per share for the financial year ending December 31, 2024.
The decision was taken at the company’s fourth annual general meeting, which was held virtually.
The company had previously paid an interim dividend of N1 per share, and would now make an additional N7.03 per share, bringing the total dividend for the 2024 financial year to N8.03 per share.
have been made by PFI-NPK Ltd for the continuous supply of about 150,000 tons of MOP to begin arriving by the end of April; 100,000 tons of DAP to start arriving by May; and 150,000 tons of Granular Ammonium Sulphate (GAS) to start arriving by May as well.
“Blenders have put in request for raw materials to blend over one million tons of NPK. Historical figures of the past three years have been less than a million tonnes of NPK. This means that the industry is poised to push the consumption (fertiliser usage) forward in line with government’s agenda to double consumption in the next two years.”
He said PFI had been the main support for the industry, which had helped in catalysing local capacity to supply the production plants with critical raw materials, stressing that stock position to commence the farming season is at 400,000 tons of NPK.
Shareholders commended the board for the financial performance achieved during the reviewed period, despite the challenging operating environment.
trillion in 2023.
Chief Timothy Adesiyan, speaking on behalf of the shareholders, praised the management of GTCO for their impressive financial performance in 2024 and the dividend pay-out. The national coordinator of Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakara, commended the board, management, and staff for their stellar performance and success in the face of adversity. Bakara expressed approval for the proposed final dividend declaration of N7.03 per share, which totalled N8.03 in dividend payments. For the year ended December 31, 2024, GTCO reported a remarkable 81.1 per cent surge in gross earnings, reaching N2.15 trillion, up from N1.19
Speaking to shareholders, the chairman of GTCO, Mr Hezekiah Sola Oyinlola, emphasised the group’s ability to remain agile and forwardthinking, which had allowed the company to achieve record-breaking performances.
Oyinlola, in his address at the AGM, stated, “In 2024, we became the first Nigerian bank to surpass the N1 trillion profit mark, an achievement that underscores the resilience of our business model, the dedication of our people, and the trust our customers place in us.”
According to him, the company’s success in a changing macroeconomic landscape is built on three pillars: operational excellence, disciplined risk
management, and a relentless focus on customer-centric innovation. He stated that the banking business continued to demonstrate strong fundamentals, supported by a robust capital base and effective cost management.
He added, “Our strategic diversification into payments, asset management, and pension fund administration has provided complementary revenue streams, reinforcing our leadership in the financial services sector.”
Oyinlola, before the end of the AGM, also announced that as part of the company’s succession plan, Mr Suleiman Barau had been appointed as the new Group Chairman, pending regulatory approval.
He highlighted Barau’s extensive
experience and respect in the industry, stating, “He is a former Deputy Governor of the Central Bank of Nigeria, with a proven track record of leadership and strategic insight.
“He has been a pioneering director of GTCO since its restructuring. I am confident that under his guidance, GTCO will continue to thrive, innovate, and deliver superior value to all its customers and stakeholders.”
Equally speaking on the group’s 2024 performance, Group Chief Executive Officer of GTCO, Mr. Segun Agbaje, stated, “In 2024, we reached a historic milestone, delivering over N1 trillion in profit before tax, becoming the first Nigerian financial institution to achieve this feat.”
He added that the raw materials in-country at various plants were about 80,000 tons DAP, 60,000 tons MOP, and 114,000 tons of GAS, adding that urea is produced locally so plants can be restocked in one week’s notice.
The FEPSAN president pointed out that to ensure value for money, the industry, working with research institutions, had made advances in developing special blends of fertilisers that were crop specific, soil specific, and cost effective to assure users of optimum results.
He said, “By identifying the nutrient requirement of the crop or the soil, blenders offer customised solutions to the market and follow up with special extension education to communities and the last mile.
this
The World Bank has said that Nigeria and other countries in Sub-saharan Africa will pay a total of $20 billion as interests on debts to their external creditors, three-quarters of which is owed to private creditors, and China.
In its latest publication: “Improving Governance and Delivering for People in Africa”, the 31st edition in the ‘Africa’s Pulse’ Series, the World Bank however stated that economic growth in Sub-Saharan Africa was showing some resilience, despite uncertainty in the global economy and restricted fiscal space.
drag caused by the continent’s big economies, including Nigeria’s, Angola’s and South Africa’s.
The global bank stated that economic growth is expected to reach 3.5 per cent in 2025 and further accelerate to 4.3 per cent in 2026-2027, mainly due to increased private consumption and investments as inflation cools down and currencies stabilise, despite a
In addition, the World Bank said growth is still not strong enough to significantly reduce poverty and meet people’s aspirations as real income per capita in 2025 is expected to be approximately 2 per cent below its most recent peak in 2015.
“The changing composition of external creditors has led to rising
interest payments and principal repayments. By 2025, Sub-Saharan Africa is projected to pay about $20 billion in interest on outstanding Public and Publicly Guaranteed (PPG) external debt—of which nearly three-quarters is owed to private creditors, and China’s official and private lenders.
“At the same time, principal repayments on the PPG external debt have increased at a faster pace than disbursements since 2016—thus leading
to a sharp decline in net financial flows into the region. Net external debt flows into Sub-Saharan Africa have dropped dramatically, from an average annual amount of $37.7 billion in 2016–19 to $18.4 billion in 2023,” the World Bank report added.
The report provided policy recommendations for African governments to maintain growth and rebuild trust in a volatile context, faced with high debt and declining global aid.
“There is a growing gap between people’s aspirations for good jobs and functioning public services and often sub-optimal markets and institutions,” said Andrew Dabalen, World Bank Chief Economist for the Africa Region.
ing these countries, the rest of the subcontinent is expected to grow at 4.6 per cent in 2025 and speed up to 5.7 per cent in 2026–27. This outlook is subject to heightened risks arising from global policy uncertainty,” the World Bank pointed out.
According to the bank, the contribution of government consumption will remain modest as the public sector continues to balance revenues and expenditures while managing painful trade-offs between servicing the debt burden and investing in social and physical infrastructure.
Kayode Tokede
United Bank for Africa (UBA) Plc, has released its unaudited financial results for the first quarter (Q1) ended March 31, 2025, showing remarkable double-digit growth across all its major income lines.
On the back of its recently released 2024 full year financials on the Nigerian Exchange Limited (NGX), UBA again saw its Profit Before Tax (PBT) rising impressively to N204.26 billion in Q1 2025, up by 31 per cent from N156,34 billion in Q1 2024, while profit after tax (PAT) jumped from N142.58 billion last year, to N189.84 billion representing a remarkable increase by 33.15 per cent.
The group’s gross earnings closed Q1 2025 at N764.31 billion, a significant
increase of 34.05 per cent from N570.2 billion in Q1 2024 while interest income which stood at N440.76 billion in Q1 2024, grew by 36.09per cent to N599.83 billion in Q1 2025.
The bank’s total assets continued on its upward trend as it increased by 4.58 per cent from N30.23 trillion in December 2024 to N31.71trillion in March 2025, while shareholders’ funds also rose to N3.7trillion up from N3.4 trillion recorded in December 2024.
Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, in a statement said the bank is on a solid start for the 2025 financial year which, according to him, reflects its disciplined execution of its strategy and the sustained momentum of the business model of driving strong earnings growth,
maintaining robust asset quality, and expanding market share.
He said: “Our results this quarter underscore the effectiveness of our focus on core banking operations, prudent risk management, and ongoing investments in customer-centric innovation.
“The Group recorded a profit before tax of N204.2 billion, with total deposits up eight per cent from N24.65 trillion at FY 2024 to N26.64 trillion. Total assets rose five per cent to N31.7 trillion, compared to N30.3 trillion at year-end, driven by balanced growth across all our business segments.
“These strong results were achieved in the face of persistent macroeconomic headwinds, geopolitical risks and global trade uncertainties,” he stated.
The GMD noted that UBA remains focused on disciplined growth and continued investment in technology, data, innovation, and talent in ensuring that customer experience is consistently enhanced to create long-term value for all stakeholders.
Also speaking on the performance, UBA’s Executive Director, Finance and Risk Management, Ugo Nwaghodoh, explained that the Q1 2025 results reflects the resilience of the bank’s diversified business model as well as the disciplined execution of its strategy.
“Urgent reforms, backed by more competition, transparency and accountability, will be key to attract private investments, increase public revenue, and create more economic opportunity for millions of Africans entering the workforce each year,” Dabalen added.
As inflation cools down and converges to targets, and (global and domestic) financial conditions remain accommodative, the bank stated that it is expected that household consumption and investment will support the region’s growth acceleration.
“The region’s economic performance is still dragged down by some of its largest countries—namely, Angola, Nigeria, and South Africa. Exclud-
Across sectors of economic activity, the contribution of services is expected to remain robust in 2025–27, the bank said, primarily driven by recoveries in information and communications technology, the financial sector, and tourism.
In agriculture, the world bank said that Sub-saharan is expected to pick up from its lows in 2023–24, thanks to improved climate conditions, infrastructure, and technology.
“Despite the baseline forecasts of growth acceleration in the region during 2025–27, risks to the outlook remain tilted to the downside. Sub-Saharan African economies will navigate an uncertain landscape amid greater policy uncertainty, which may lead to changes in the world trade order,” it maintained.
Ndubuisi Francis in Abuja
The Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investments scheme to the commission for proper investigation and necessary action. The Commission said this in a notice issued on Thursday to the investing public with a warning that Ponzi investment schemes posed great danger to the growth of the capital market. In its latest advisory, coming against the backdrop of the CBEX saga, the
SEC warned the public about the growing threats and risks posed by Ponzi schemes, illegal investment operations, and unregistered digital assets platforms. It explained that fraudulent entities and individuals have continued to exploit unsuspecting investors through deceptive promises of high returns, often leveraging the allure of digital assets to create an erroneous perception of legitimacy.
“The public is strongly advised to be wary of investment opportunities that promise guaranteed or unusually high returns with little or no risk.
“These include unregistered platforms offering cryptocurrency investments, forex trading, or blockchain-based schemes, without subjecting themselves to the prescribed processes for obtaining the prior approval of the SEC.
“The SEC reiterates in this regard that ‘If it sounds too good to be true, it likely is,” it stated.
The commission urged potential investors to conduct thorough due diligence before investing and should verify the registration status of the company or individual offering the investment through the SEC’s website.
Emejo
Chartered Institute of Taxation of Nigeria (CITN), yesterday, warned members against unethical practices, vowing appropriate sanctions.
The 16th President and Chairman in Council of CITN, Samuel Agbeluyi, handed the caution at the 52nd induction ceremony of the institute in Abuja.
Addressing 1,461 newly inducted members, Agbeluyi specifically warned members to desist from spying into their clients’ purse or divulging privileged information to avoid temptation.
He added that members should not be in a hurry to make wealth.
Agbeluyi said, “But don’t be in a hurry and, please, don’t spy at the purse of your client. If you see two billion, because by virtue of your privileged position you will see a
lot of money in your client’s record. It’s not your money.
“And if it’s not your money, it is not your money. So, don’t spy at the purse of your clients. And don’t give out information unnecessarily.”
He also said, “As a regulatory measure, the council of the CITN has established an investigative panel with the authority to examine cases of professional misconduct involving members.
“Additionally, the disciplinary tribunal is diligent in carrying out its responsibility to discipline any member found to have violated professional standards.”
The CITN president stressed, “There are a lot of opportunities to make money in Nigeria. Don’t go the wrong way. But if you decide to go the wrong way, we have the mechanism within the Institute.
“We have the investigation panel. I was once the chairman of that panel, and it’s a pitiable situation when you see people wailing when the reality is put before them.
“Please, don’t come and wail, because even if you cry from now to tomorrow, the chairman knows that he must not go emotional with you.
“So, please, run away from that investigation panel. And if we consider the case necessary to go to the disciplinary tribunal, then you are already before a court of equal jurisdiction with high court. So that means it’s a big one.
“I beg you, do everything to avoid this. I am talking from experience. Don’t be in a hurry to hammer out.” Agbeluyi reaffirmed CITN’s commitment to supporting ongoing tax reforms and strengthening professionalism in Nigeria’s taxation system.
L-R:
Group Managing
and Head, Primary Market, NGX, Mr. Tony Ibeziako, during the Closing Gong Ceremony and Facts Behind the Listing of Legend Internet Plc at the Nigerian Exchange in
$400m
Visits Proforce, other indigenous military equipment manufacturers, solution providers
Kasim Sumaina in Abuja
Minister of Steel Development, Prince Shuaibu Abubakar Audu, has performed the official groundbreaking ceremony of the Inner Galaxy Group’s Stellar Steel Plant, a $400 million investment, in Ogun State.
The Stellar Steel plant, which will sit on over 100 hectares of land once completed, is expected to produce hot-rolled coil, reducing Nigeria’s $4 billion annual steel import bill, strengthening the country’s foreign-exchange position, growing and diversifying the economy from oil and gas and also, and creating over 3,500 direct and indirect jobs for Nigerians.
The ground-breaking ceremony of the Stellar Steel Plant followed the commissioning of African Industries Group’s Galvanised Steel Plant, with an estimated annual turnover of about $100 million, by the minister in Lagos.
Both activities formed part of his one-week official visit to Lagos and Ogun states to engage with private steel sector players.
Performing the ground-breaking ceremony, Audu lauded the Inner Galaxy Group for their commitment to the steel industry’s revival efforts under the “Renewed Hope Agenda” of President Bola Tinubu.
He reiterated that the federal government was keen on encouraging private sector players as a means of growing the Nigerian economy.
Audu, in a statement Thursday
in Abuja by Principal Information Officer of the ministry, Ijomah Opia, said, “As you are aware, this is one of the most robust cabinet teams that has been put together by any president since the advent of the democratic dispensation in the Fourth Republic in 1999 because President Tinubu is renowned for selecting the best hands and leaders to actualise his vision.”
The minister also expressed confidence in the capacity of the Inner Galaxy Group to deliver on its plans for the completion of the Stellar Steel Plant, as he expected to commission the completed plant by April 2026.
He lauded the company’s track record in Nigeria, which included building the largest lithium factory in Nasarawa State and a $150 million battery-recycling facility in Aba, Abia State.
Audu stated, “I have personally come to support the Inner Galaxy Group and the Stellar Steel Team for this $400 million investment in the steel sector. It is a very impressive project, and I have come to perform the ground-breaking ceremony, as I look forward to coming for the commissioning once it is ready in April 2026, by God’s grace.
“Under President Bola Ahmed Tinubu’s Renewed Hope Agenda, we are determined to build a $1 trillion economy by 2030. Steel is the backbone of industrialisation; from roads and power stations to defence hardware – they all need steel, and this particular project exemplifies the
public-private partnership required to compete in Africa and globally.
“We want to grow the Nigerian economy to one of the biggest economies in the world by 2030. China has done that excellently well over the last 30 years and is also renowned for speed of execution. We as leaders in Nigeria want to follow in those footsteps so that we can make our economy not just the biggest in Africa but one of the biggest in the world.”
Vice President of Inner Galaxy
Group, Mr. Jackie Shan, who interpreted on behalf of its Chairman, Mr. Li Chuang, who was also present, thanked the Ministry of Steel Development for striving for the revitalisation of the steel sector in the country.
The minister paid working visits to Proforce Defence Solutions in Ode Remo and Epail Nigeria Plant in Mowe, both in Ogun State.
The visits aligned with the federal government’s push for local produc-
tion of military hardware and the proposed development of a military industrial complex within the Ajaokuta Steel Complex.
Speaking at Proforce Nigeria Limited, the minister said Tinubu had repeatedly stated the importance of having a military industrial complex to help improve the security situation in the country, saying having a military industrial complex in Ajaokuta with local capacity to produce military hardware is extremely critical.
Managing Director of Proforce, Mr. Ayo Ogundeyin, commended the minister for his dedication to reviving the steel sector and affirmed that with support from the ministry, Nigeria could become Africa’s top defence manufacturing hub. At Epail Nigeria, Audu applauded the company’s use of advanced technology in defence production and reaffirmed the government’s readiness to collaborate in support of its operations.
Former presidents, Chief Olusegun Obasanjo and Dr. Goodluck Jonathan, have expressed heartfelt grief over the passing on of former Permanent Secretary in Anambra State, Chief Mathias Anohu, describing him as a distinguished public servant.
Also, the governor of Enugu State, Dr. Peter Mbah, and Governor Umar Bago of Niger State alos expressed deep sadness over the death, noting the deceased’s good works would immortalise him.
The outpouring of grief and condolences come ahead of the funerals of Chief Anohu, which begins today, Thursday, with a Service of Songs in his honour at the National Ecumenical Centre, Abuja.
2025 WASSCE: Lagos Spends N1.5bn on Exam Fees for 56,000 Students
As part of its commitment to free education, the Lagos State Government yesterday said it has fully sponsored the 2025 West African Senior School Certificate Examination (WASSCE) for 56,134 final-year secondary school students at the cost of N1.5 billion.
The Commissioner for Basic and Secondary Education, Mr. Jamiu Tolani Alli-Balogun, who disclosed this at a ministerial press briefing to mark the second anniversary of Governor Babajide Sanwo-Olu’s second term, revealed that biometric and image registration exercises were conducted to ensure accountability and accurately determine eligible students.
“This is part of efforts to prevent wastage and streamline the
sponsorship process. Through the free education programme of Mr. Governor Babajide Sanwo-Olu’s administration, parents have been relieved of the burden of paying examination fees,” he stated.
He encouraged students, particularly those in boarding schools, to take full advantage of the initiative.
The commissioner said that out of 5,815 applicants, 4,763 students were offered admission into Model Colleges and upgraded schools, adding the boarding fee was increased from N35,000 to N70,000 to improve student welfare, particularly feeding.
Alli-Balogun highlighted other projects of the administration including expansion of private education sector, construction and rehabilitation of public schools, automation of Lagos State examination board business
process, among others.
He noted that the state has granted provisional approvals to 242 new private schools marking a 147 per cent increase in approved institutions over the last year.
His words: “This includes 175 nursery/primary schools and 67 secondary schools. We have officers who go round to monitor our schools. We do retrieve provisional approvals from schools that are not up to standard. So far, we have had to shut down five private schools in the state.”
He said 17,575 students have been successfully transferred into the state’s junior and senior secondary schools from public and private institutions, adding that the state has established 17 new primary, junior and senior schools between January 2024 to date
Obsequies released by the deceased’s eldest son, Engr. Victor Anohu, also showed that the Service of Songs would be followed be followed by a requiem mass at The Cathedral of the Basilica of the Holy Trinity, Onitsha, Anambra State, on Wednesday, April 30, 2024, while a funeral mass would hold in his honour at Christ the King Parish, Ubahu, Okija, Anambra State on Thursday, May 1, followed immediately by interment of his remains at his country home at Okija.
In his condolence message to Anohu family, Obasanjo recalled the lifetime of the late octogenarian as “a devout Christian, who lived his entire life in the service of God and humanity.”
“His life was also a practical demonstration of patriotism, professionalism, commitment and diligence in public service,” he added.
In his condolence message,
Jonathan commended Chief Anohu’s “unwavering integrity” as his defining qualities.
According to Jonathan, “The hope of every human, is to leave a lasting legacy behind, one which Chief Anohu has achieved through his good works and his children, two of whom I have worked with in the service of our great nation – Honourable Emeka who served meritoriously in the 8th National Assembly in the House of Representatives and Chinelo, whose outstanding work in the Nigerian Pension Reform paved the way for her appointment by my administration, as the first female Director general of the National Pension Commission.”
In his message, Governor Mbah said: “Chief M. C Anohu will be remembered as a celebrated statesman, eminent pharmacist, outstanding public servant, phenomenal community leader, renowned humanist and devout Catholic.”
On his part, Governor Bago said the death was too monumental to qualify.
“We sincerely found words inadequate in describing the sadness that engulfed us. He lived for and served humanity with passion.,” Bago stated.
Chief Mathias Anohu, who passed on, Monday, January 6, 2025, aged 84, was appointed Permanent Secretary for Education in 1998 by Group Captain Rufai Garba, Military Administrator of Anambra State at the time and served as Commissioner 1, Anambra State Civil Service Commission during the administration of the late Dr. Chinweoke Mbadinuju. He is survived by his wife, Dr. Virgy Anohu; his sons, Engr. Victor Anohu and Hon. Emeka Anohu and his daughters Chinelo, Chinwe, Chinenye, and Chioma, as well as his brothers, sisters, and grandchildren, among others.
Segun Awofadeji in Bauchi
Abubakar Tafawa Balewa University (ATBU) Bauchi has dismissed one of its lecturers, Dr. Usman Mohammed Aliyu from the institution over an alleged sexual harassment of his student.
Mrs. Kamila Rufai Aliyu, a postgraduate student of the Department of Chemical Engineering, Faculty of Engineering and Engineering Technology had last year petitioned the university management through the department to investigate the
matter. The student also accused Dr. Aliyu of threatening her academic success if she failed to comply with his demands.
The lecturer, having learnt about the petition against him, filed a defamation lawsuit in court against the student, department and the university.
But the University in its Newsletter (ATBU Herald) of April 22, Vol. 39 No. 5 stated that the Governing Council of the University has dismissed Dr. Usman Mohammed
Aliyu from the services.
The Newsletter read: “In its 96th regular meeting held on Friday, 11th April, 2025, the Council approved the dismissal of Dr. Aliyu for sexual harassment.”
The report said that the dismissal followed a report by the Senior Staff Disciplinary Committee which found him guilty of the offence.
“The statement further said the dismissal was in accordance with chapter 3, item f. 1, (o) of the Senior Staff Conditions of service of the university.
L-R: Commissioner for Physical Planning and Urban Development, Ekiti State, Rt. Hon. Karounwi Oladapo; Deputy Governor, Chief (Mrs) Monisade Afuye; Governor, Mr. Biodun Oyebanji, and Chief Executive Officer, Lord’s Field Ltd, Mr. Olajugba Oluropo, during the flag-off of the aerial mapping of Ekiti State in Ado-Ekiti…recently
Blessing Ibunge in Port Harcourt
Women under the aegis of Rivers Women Unite Prayer Group, has appealed to President Bola Tinubu to save the state, especially the women from the burden of the ongoing emergency rule in the state.
The women made the call yesterday during their monthly prayer session held at Isaac Boro Park, in Port Harcourt.
In a statement signed by Dr Vivian Ige-Elenwo and Chikodi Okpara, the women stated that the continuation of the state of emergency is taking a great toll
on the women, the youths and the children, stressing that the economy is sliding down and gradually becoming comatose.
Prof Roseline Konya who read the statement on behalf of the group, urged the president to restore the elected governor of the state and lift the emergency rule, while pledging their support for him at the federal level.
They said: “We are therefore, looking up to the president, who we are solidly behind, to rescue Rivers women by lifting this burden of state of emergency from our dear state and to restore our democratic institutions.”
Omolabake Fasogbon
Reward and appreciation of efforts have been identified as crucial tools to promote and influence positive societal transformation in the country.
The Group Corporate Communications and Events Manager of Indomie, Temitope Ashiwaju, encouraged the government, corporates and individuals alike to leverage these tools for greater good.
Ashiwaju, while announcing the 17th edition of ‘Indomie Heroes Awards’ in Lagos recently, stated that the organization embraced the responsibility to highlight extraordinary bravery among Nigerian children to influence a positive society.
According to him, the award theme ‘Unsung Heroes’ will spotlight remarkable stories of
courage from children below 15 years across Nigeria’s six geo-political zones to inspire similar acts.
He stated that the initiative, celebrating exceptional physical, social, and intellectual bravery, also embodies the resilience and strength of the Nigerian child.
“When we launched this initiative, our vision was clear—to recognize children who exhibit extraordinary courage. Today, we continue that mission with even greater passion, driven by the belief that honouring these young heroes encourages a culture of bravery and social responsibility,” he said.
He stated further that the award process includes a three phase of nationwide call for nominations, rigorous screening and selection by a panel of judges, and a grand awards ceremony to honour winners.
Becky UbaUmenyili
A Catholic priest, Rev. Fr. Jude Madu has made a wake-up call to the Church to exert more efforts in evangelism and moral teachings to avert the spread of corruption and crime in the country.
Speaking during his homily recently at Mass, Fr. Madu observed that the crux of the problem in our country is private enrichment at the expense of public good.
He stated that the Church has a lot of role to play “to appeal to the minds and consciences
of the masses in the country by emphasising on the ills and far-reaching effects of crime and corruption.
The Reverend gentleman noted that the message of Easter, which was recently celebrated is the joy of salvation for mankind, newness of life and witnessing to the good news of Christ’ to the world. He therefore, challenged all, especially churches to focus on more evangelical programmes that will convert people from the mindset of personal aggrandizement to respect for human dignity and public good.
“We assure Mr President to continue standing by him, as part of our appreciation to his acceding to our fervent cry for the lifting of the emergency rule and the restoring of our duly elected governor, Sir Siminalayi Fubara.”
The women also called for genuine reconciliation amongst the parties in the political crisis and asked the major actors to put Rivers State first in all their dealings and put aside every grievance so as to pave the way for love and absolute peace to thrive.
“We remain resolute in this demand for the sake of equity, justice and good conscience. It is obvious that our State is the major loser of the emergency rule as many development actions are on suspension and our people are languishing in anxiety as an aftermath.
“Let us all rise above self and be patriotic to salvage our State from this abyss. That is why we are appealing to Mr President to save the economy of our dear State and urgently lift this emergency rule to provide for a seamless return of progressive development.”
Hammed Shittu in Ilorin
A chieftain of All Progressives Congress (APC) in Kwara State, Hon. Makanjuola Yahaya Lanre, has said that the recent Supreme Court decision granting financial autonomy to local government in Nigeria may deepen inequality between wealthy and under-resourced communities if not carefully implemented.
Makanjuola, who is also a property consultant, stated this in Ilorin yesterday at the 6th Nigerian Union of Journalists(NUJ), Sobi FM
Chapel Strategic Media Seminar, held in partnership with the Nigerian Media Parliament in Ilorin, the state capital.
The seminar has the theme: ‘Grassroots Governance and Security: A Framework for Sustainable National Development’. The seminar brought together media professionals, local government officials, civic leaders, and policy advocates to deliberate on the implications of financial autonomy for security and development at the grass-roots level.
Gbenga Sodeinde in Ado Ekiti
The Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, Ojaja II, has stressed the importance of traditional rulers in fostering economic growth and community development.
The foremost traditional ruler who spoke yesterday in Ikogosi Ekiti, Ekiti State at the two days 2025 Traditional Rulers
Retreat tagged “Unlocking Ekiti’s Potential : The Role of Traditional Rulers in Attracting Investments,” said community development should not be left for government alone while he called on private individuals with the resources to join hands with royal fathers in repositioning the state economically.
Ooni maintained that the roles of traditional institutions have
metamorphosed over the years from the custodian of culture, norms and traditional values to be actively involved in policy making, developmental projects and nation building.
The monarch particularly modeled the founder of Cavista Holdings, whom he lauded for his efforts in fusing community and private sectors with robust synergy, saying the action has
proven that traditional rulers can also be a catalyst of human and infrastructural development .
“Traditional rulers have important roles to play, for example Agbeyewa who has involved us from the conceptualisation, to the planning and execution of projects. It is worthy to note that they have successfully turned areas known to be a kidnappers den in Ekiti to a viable economic axis.”
The stage is set for Unleashed4Takever 3.0, the premier real estate and youth empowerment summit, as Nedcomoaks Group yesterday concluded plans for the summit to be hosted by the developer, investor, and Group Managing
Director of Nedcomoaks Group, Dr. Kennedy Okonkwo
The previous editions of this summit which is hosted by Okonkwo, according to the organisers, witnessed tremendous success.
This year’s edition of Unleashed4Takever, Okonkwo said in a statement, promises to
be the most dynamic gathering, bringing together a vibrant mix of real estate professionals, creative minds, government stakeholders, aspiring entrepreneurs, and industry disruptors under one roof.
According to him, this year’s two-day summit, which will be held at the Balmoral Event Centre in Victoria Island also will take place on May 1, 2025, and May 2, 2025, and will be bigger, bolder, and is built for transformation. According to him, “Over 2,500 participants including industry leaders, policy makers, content creators, tech innovators, and students will attend the next month summit.”
Emmanuel Ugwu-Nwogo inUmuahia
Youths have been urged to start building a promising future in leadership roles by embracing the virtues of hard work and honesty in order to create a brighter future for themselves.
The member representing Southeast on the Board of the North East Development Commission(NEDC), Chief Sam Onuigbo, gave the advice when he received the True Patriot award presented to him by the World Igbo Youth Assembly(WIYA) at a ceremony in Umuahia, Abia State.
He noted that Nigeria was fast evolving into a true democratic nation hence the need for youths to prepare themselves for leadership roles because in no distant time only character and integrity will decide their fate.
“I want to encourage you to keep your hands clean. I am
advising the youths to learn, work hard and remain focused,” he said. Onuigbo, who is the immediatepast representative of the Ikwuano/ Umuahia federal constituency in the National Assembly, said that he would not relent in contributing to community development and youth mentorship.
Ayodeji Ake
Inlaks, an information communications and technology (ICT) infrastructure and systems integrator, has partnered with Zenith Pension Custodian Limited (ZPC) to deliver seamless digital financial solutions to their numerous clients.
The partnership has given rise to the successful completion of upgrading ZPC’s system to Temenos Release 24 (R24), marking a significant milestone in the company’s digital transformation journey.
Executive Director at Inlaks, Olufemi Muraino, speaking on the success of the project, said: “Inlaks is committed to empowering financial institutions with advanced technology solutions.”
“Our collaboration with ZPC underscores our dedication to delivering seamless digital transformation, and we are proud to have played a key role in their journey towards operational excellence.”
Similarly, Director of Services Business at Inlaks, Jonathan Shalomi, said: “The successful upgrade of Temenos Transact for Zenith Pensions Custodian Limited highlights our expertise in implementing robust system solutions that enhance performance, security, and scalability.”
Acting
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Nigeria is currently collaborating with friendly nations in Europe, Asia and Africa with a view to having bilateral relationship that will be sustainable. Michael Olugbode reports.
John Donne’s Meditation 17 emphasized the importance of the interdependence of man, society and states in the quote: “No man is an island, entirely of itself; every man is a piece of the continent, a part of the main.” This is further echoed in song of Dennis Brown, Warp 9, Tenth Avenue North, and The Lettermen, among others.
The fact is that each country is a tributary that flows into a major ocean that is the earth, we all depend on one another to do well individually or in its entirety.
This is captured in the ideal of Globalization, which refers to the increasing interconnectedness of the world’s economies, societies, and cultures.
It’s driven by advances in technology, trade, and investment, and has led to the free flow of goods, services, and ideas across borders.
At the inception of President Bola Tinubu’s administration on May 29, 2023, Nigeria’s economic situation was marked by significant challenges and yearning for reforms and lifelines with the country’s growth rate having decreased from 2015 to 2022, with a flattened GDP per capita due to policy missteps and external shocks like the COVID-19 pandemic and Russia’s invasion of Ukraine.
The poverty rate was estimated to be around 38.9% in 2023, with approximately 87 million Nigerians living below the poverty line. Nigeria faces significant development challenges, including limited access to education, healthcare, weak job creation, and inadequate infrastructure.
It was as if the nation’s economy was in the operating theatre and on oxygen. There was need for drastic measure and interventions to revive the economy and the new administration was left with no other option but to introduce bold reforms to re-establish macro-economic stability and growth.
These reforms included eliminating gasoline subsidies, unifying the exchange rate, and tightening monetary policy.
Despite these efforts, inflation remained high, increasing hardship and poverty, and there was an inevitable need to seek help from across the border.
This called to task the Ministry of Foreign Affairs to shaping Nigeria’s global standing and advancing the nation’s strategic interests across the world. The ministry which has at its helm, a seasoned diplomat, Ambassador Yusuf Tuggar was left with the arduous task of promoting economic growth, national security, diplomatic relations, and engagement with global partners, and to position Nigeria as a force to be reckoned with on the international stage.
The task was taken with all seriousness it deserved and remarkable diplomatic achievements, investments, and key partnerships that are expected to have a profound impact on Nigeria’s long-term growth and stability have been made.
Reeling out his achievements recently, Tuggar said one of the ministry’s primary responsibilities has been to facilitate investment and economic partnerships that contribute to Nigeria’s growth and development, pointing out that in this regards the ministry has successfully secured a range of significant investment deals and forged strategic relationships with key global players.
He noted that the ministry played a pivotal role in facilitating $14 billion worth of investment commitments from three Indian investors across diverse sectors, including ICT, agriculture, power, steel and manufacturing, defense, telecom, space communications, digital solutions, insurance, processed foods, real estate, and hospitality, stating that this massive investment is expected to not only provide substantial financial returns but also stimulate job creation and technological innovation within Nigeria.
Tuggar said a €250 million investment was secured from the Netherlands to boost existing businesses in Nigeria, creating further opportunities for economic growth.
The minister added that the ministry has successfully secured CEO roundtables with global investors; these include events such as the Bloomberg CEO roundtable scheduled for the second quarter of year 2025 and the
World Economic Forum (WEF) in October, 2025, promises that these fora will reinforce Nigeria’s role in global economic discussions and solidify its position as a critical player in the global marketplace.
He said the ministry has facilitated two significant Memoranda of Understanding (MOUs) with Saudi Arabia that will have long-lasting
economic implications for Nigeria. These agreements focus on oil and gas, where Saudi Arabia will invest in the reconstruction of Nigeria’s four decrepit state refineries. Furthermore, the Saudi government will provide financial support for Nigeria’s foreign exchange reforms, which will help stabilize the national currency and promote economic growth.
The minister said: “Additionally, a $2 billion investment with Germany on the NigeriaSiemens Power Project aims to revamp the nation’s power sector, enhancing electricity supply and reliability,” has been initiated. Tuggar said in the area of Asset Recovery and National Development, the ministry has successfully facilitated the repatriation of $52.8 million in stolen assets from the United States, an effort that was finalized in January, 2025, noting that these funds will be utilized for national development projects through a World Bank grant to support the rural electrification agency, benefiting over six million households, insisting that this achievement demonstrates the ministry’s commitment to tackling corruption and ensuring the effective use of recovered assets for national benefit.
He said another major achievement of the ministry was the country signing of a pact with Saudi Arabia to tap into the $7.7 trillion halal economy, explaining that this cooperation will position Nigeria as a leading player in the global halal market, opening doors to trade and investment in halal-certified products.
Strengthening National Security for Peace and Stability
The minister said his ministry also took significant steps to enhance Nigeria’s national security and regional stability through its diplomatic efforts. He insisted that ensuring the safety of Nigeria and the West African region has been central to the ministry’s objectives, and in line with this, the ministry in February, 2024 organized an emergency ECOWAS Summit to address the political crises in West Africa, specifically focusing on withdrawing sanctions imposed on breakaway countries in the region, adding that this initiative helped avoid a potential humanitarian crisis and took a major step toward normalizing relations in the sub-region.
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Ifeanyichukwu Jaja writes on the efforts being made by the Acting Vice Chancellor of the University of Nigeria, Nsukka, Professor Oguejiofo Ujam, since he assumed office on February 14, 2025, to return the university to path of greatness.
When on February 7, 2025, President Bola Tinubu appointed Professor Oguejiofo Ujam as the Acting Vice Chancellor of the University of Nigeria, Nsukka, it was clear that the institution was being offered a rare opportunity for renewal. What laid ahead was not just the task of filling a vacancy, but the challenge of revitalizing Nigeria’s premier university and restoring its dwindling glory.
On February 14, Ujam officially took over the reins from Professor Polycarp Chigbu.
In just two months, the Acting Vice Chancellor has exemplified what is possible through visionary leadership, inclusive governance, and a sense of urgency grounded in strategic actions.
The tone was set at his very first Senate meeting, where he delivered a candid and reflective address: “Memorably, this is about the first time that our university produced three Vice Chancellors in acting capacity within a year. And I feel that it does not require rocket science to note that the institution has greatly retreated from its leading position as Nigeria’s premier university.”
He went further to remind the university’s leadership of their collective obligation: “Let us purge the school system of tiny cleavages, sectional considerations and narrow-mindedness that have contributed in eroding the enabling condition for research, comparative studies and adaptive application
of new knowledge.”
Ujam’s response to this internal fragmentation has not just been rhetorical.
In one bold stroke of fairness and professionalism, he appointed the first-ever Acting Deputy Vice Chancellor from Yoruba ethnic stock in the university’s history, in the person of Professor Kamoru Olayiwola Usman.
That gesture was a clear indicator of Ujam’s desire to heal long-standing divides and reestablish UNN as a truly national and inclusive academic community.
This same sense of equity has continued to reflect in his appointments and interactions
with various segments of the university. He has been described by many as professional, fair, and consultative, building consensus and maintaining administrative focus in a complex environment.
The challenges he met were enormous: dilapidated infrastructure, low staff morale, student disenchantment, and poor environmental conditions. But instead of lamenting, Ujam rolled up his sleeves and got to work.
In the area of infrastructure, he prioritized the rehabilitation of internal roads and students’ hostels. Although the physical works have not yet commenced, the planning stages have reached advanced levels, including needs assessments, contractor prequalification, and resource mapping.
A phased 20 kilometres internal road rehabilitation plan across the Nsukka and Enugu campuses is ready for launch, alongside a comprehensive hostel upgrade programme and the installation of solar-powered street lighting to improve night-time visibility and campus safety.
On sanitation, his immediate declaration of a “State of Emergency” on campus cleanliness has already yielded visible results.
-Dr Jaja, Special Assistant to UNN VC, writes from Nsukka.
NOTE:
By Magnus Onyibe
Pa Ayo Adebanjo was a true giant of Nigerian politics, renowned for his unwavering commitment to democracy, justice, and human rights. His strategic role in democracy is so entrenched that one did not need to mention his first and second names to recognize and respect him. Infact , a lot of his admirers did not know his first name-Ayo. His political journey which began in the 1940s, influenced by nationalist leaders like Dr. Nnamdi Azikiwe continued consistently until he took his last breathe. He never changed his political leaning/ orientation from when he joined the Action Group, led by Chief Obafemi Awolowo, which shaped his progressive ideals, hence his dedication to Awoism, emphasizing federalism, free education, and social welfare, remained a cornerstone of his political life.
Pa Adebanjo was a fearless critic of leaders who violated human rights,and he played a pivotal role in the fight against military dictatorship. He was a key figure in the National Democratic Coalition (NADECO) in the 1990s, advocating for the restoration of democracy and opposing the annulment of the June 12, 1993, presidential election and during the last electioneering period strongly wanted presidential power to swing to the south-east in the unwritten spirit and letter of the presidential rotation principle. He was so pro-inclusivity and acutely tribe neutral that l featured him prominently in my 2023 book: “Becoming President of Nigeria. A Citizen’s Guide”.
Pa Adebanjo’s legacy extends beyond his political achievements. He was a devoted family man, leaving behind a wife, children, grandchildren,
and great-grandchildren. His commitment to justice, democracy, and national unity continues to inspire Nigerians, and his influence will be felt for generations to come. Hopefully, one or more of his biological children (he already has thousands of non biological children walking in his shadows)would pick up the mantle from where the remarkable octogenerian who
continued to speak truth to justice left off.
A die-in-the wool progressive, Pa Adebanjo’s commitment to democracy, justice, and human rights is truly inspiring. When looking for comparable leaders from around the world, a few names come to mind:
The iconic Nelson Mandela of South Africa who fought , tirelessly against oppression and
advocated for equality, justice, and human rights during which his leadership and vision helped shape a democratic South Africa exhibited the hue of patrotism and passion for fatherland also manifested by Pa Adebanjo whose love for equity, justice and democracy knew no bounds.
Another leadership icon that Pa Adebanjo can be compared to is Martin Luther King Jr. of the United States of America, USA . King’s dedication to civil rights and social justice, often in the face of adversity, resonates with Pa Adebanjo’s own struggles for democracy and human rights in Nigeria.
Clement Attlee of the United Kingdom, (UK) is another outstanding leader that one can mention in the same breath as Pa Adebanjo.
As the former Prime Minister of the UK, Attlee championed progressive policies, including the establishment of the National Health Service (NHS), commitment to social justice and equality, his good work aligns with Pa Adebanjo’s values.
These leaders, while from different parts of the world, share a common thread with Pa Adebanjo – a steadfast commitment to creating a more just and equitable society.
Certainly, one of Nigeria’s last pillars of democracy has transited.
As the human rights icon Martin Luther King Jr. once noted: “The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.”
Undoubtedly, King’s wise counsel referenced above captures Pa Adebanjo’s courage, conviction, and commitment to standing up for what is right, even in the face of adversity.
May the soul of Pa Adebanjo rest in peace.
Seventy years ago today, the universe gifted us with a remarkable treasure, one that would guide countless souls as a navigator, assist in shaping destinies, as well as nurture and enhance the talents of many. Mr. Akinsola Akinfemiwa, the former Managing Director/Chief Executive Officer of the former Skye Bank Plc, now Polaris Bank Limited, was the new pilgrim the universe gifted us 70 years ago to fulfill the mission and purpose of building men and leaders in the financial services industry for national development.
An exceptionally adroit professional banker, a gifted orator and an efficient manager of resources, Mr. Akinfemiwa invested his youthful energies in pursuing both academic and career excellence, and honing his leadership and managerial prowess in order to positively impact the young generation of bankers who providence had brought his way for mentoring, guidance, training, and leadership.
It is a truism to say that his vast accomplishments and problem- solving abilities are a function of his social relations and nature as an avid reader. Relating with him as my direct boss at both Prudent Bank and Skye Bank Plc as Head of Corporate Communications, I kept wondering how he managed to read the quantum of books he read and his extensive insights on any subject. As an all-round subject matter expert, those of us who worked under him had no choice but to broaden our intellectual horizons to understand his work ethics and expectations.
Armed with a degree in Agricultural Economics from the University of Nigeria, Nsukka and a Master of Business Administration degree from the University of Ife (now Obafemi Awolowo University), Ile Ife, Mr. Akinfemiwa began an illustrious and sparkling career in banking at the then International Merchant Bank and rose rapidly to the top. His meteoric rise in the industry which came on merit was the just reward for his innovation, exceptional value addition, management acumen, and leadership.
His hunger for increased executive responsibilities and application of his strategic management skills led him to leave his job as the Deputy Managing Director of Chartered Bank to assume the position of the Managing Director/CEO of the Prudent Merchant Bank, a one-branch bank in 1999. His Midas touch instantly manifested on the fortunes of the bank,
growing from one branch to hundreds of branches shortly after its conversion to a commercial bank. Along with a team of young, vibrant, focused, smart, and hardworking professionals, Mr. Akinfemiwa rapidly transformed Prudent Bank into one of the leading commercial banks in the country, winning awards and accolades in the process.
Due to his managerial acumen and the phenomenal success of his bank, Prudent Bank would later emerge as the lead legacy bank of the consortium of five banks that formed Skye Bank Plc (now Polaris Bank) and he was duly and meritoriously appointed as the pioneer Managing Director/CEO post-merger and consolidation.
Mr. Akinfemiwa’s unique management style, as I observed from a close range, could
not but produce mega and sterling results: the daily memos on operational principles and the strategic direction of the bank, rule book on professionalism, circulars and guidelines on bank’s business philosophy, were practical hands-on lectures on how to run a successful business. Then the numerous meetings with business units and back-office departments for harmony and synergy. I remember the “direct report” or “the first eleven” Monday meetings where weekly targets, business ideation process and distillation of innovative are discussed and agreed. His accomplishments as the helmsman at Skye Bank were legion and breath-taking. Within a short space of time, Skye Bank became one of the few “Systemically important Banks” in the country, lending to other banks and had significant market share. This was a huge feat considering the fact that the legacy consolidated banks that formed Skye were all Tier two banks!
Mr. Akinfemiwa had no limiting boundaries as far as banking is concerned. Even the activities you may call non-core banking activities, he showed interest in them. Most outstanding products of the bank that became customers’ number one preference were his idea. As an exponent of youth financial literacy, he was one of the first to create a product specifically targeted at the youth. The product called ‘Rainbow Savings account,” was his own way of guiding the youth on taking charge of their finances at an early stage. Long before the ATM came, he invented the ‘Campus Card’ designed for students of higher institutions to enable them load their upkeep allowances in the card to safeguard against theft. The product was subsequently launched in higher institutions across Nigeria Indeed, our most successful advertising campaign at Skye Bank, The YES campaign, was his idea. Upon his arrival from a foreign trip, he called a meeting of the Corporate Communications Department with the external advertising agency and unveiled a new strategic direction for the bank. He told us he wanted to run a bank that says “Yes’ to the customers. That was how the YES campaign creative processes started. The YES campaign was so successful and popular, won several awards and became ring tone on the phone of many Nigerians.
As a lover of education, he led the bank to support the financing of the establishment of schools from elementary to higher institutions. Some of such schools are Carol School, Rainbow College, Stella Marris, Grange School, Premiere
Academy and others Under his watch at Prudent and Skye Banks, he played a major role in the development of the real estate sector, financing housing projects to alleviate the housing challenges of Nigerians. These housing projects were done across the geopolitical zones of the country and some of which are; Goshen Beach Estate, Lagos, APICO in Uyo, Terrace Hosing Estate Abuja, Zion Golden City Akure and many more.
He upholds “accessibility”, one of major core values of Skye Bank. His office door was always open to staff at all levels and customers too. Mr. Akinfemiwa was friendly with the media, always willing to give account of his activities in the Bank.
Mr. Akinfemiwa, a versatile professional banker, commenced his working career in 1978 as a Management Trainee with the British Petroleum (now AP) and later in 1980 as an Audit Officer at Peat Marwick, Casselton Elliot & Co. Nigeria. He went into banking from the audit firm by joining the International Merchant Bank to start over three decades in banking.
Mr. Akinfemiwa attended several professional courses in Europe and the United States, namely: Centunn Consultancy, Florida, USA (1998); a senior executive internship progranme under the auspices of American Express Bank of New York. USA; International banking course at the Manchester Business School, University of Manchester, United Kingdom; internship programme with the First Chicago Leasing Corporation; Strategic management in banking organized by the European Institute of Business Administration (NSEAD) in Fontainebleau, Cavex, France. (1996 & 2005) and Euromoney Training Centre, Red Hill, Surrey, England (1991). He was also at the Lagos Business School (1999). Since his retirement from banking in 2010, Mr. Akinfemiwa has been involved in community development in his Ile Oluji hometown, and has also founded Araba Foundation for his philanthropic activities.
Happily married with kids, Mr. Akinfemiwa is a builder of leaders, banker of bankers, a teacher, mentor, trainer, motivator, and an altruist. On this auspicious occasion of his 70th birthday, I wish him many more happy and healthy years in his service to humanity.
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 23 April-2025, unless otherwise stated.
Chinedu Eze
Aviation industry experts and airline operators have again stressed the need for Nigeria to establish an aircraft leasing company in order to put an end to the protracted low capacity that has shut up the cost of air travel in the country.
Currently, the average cost of ticket is about N200, 000 for one-way flight and this is projected to increase tremendously during high and festive seasons.
Industry observers attribute the development to inadequate operating aircraft that provide limited number of seats below the demand of air travellers.
The experts also project that having a local leasing company will save domestic carriers about $10 million annually on foreign exchange.
It was learnt that since the end of Covid-19 lockdown in 2020, Nigerian airlines have been grappling with inadequate number of aircraft in their fleet, a situation exacerbated by inflation and high exchange rate, making it difficult for Nigerian carriers to acquire or lease aircraft due to the high capital outlay.
The observers said that paucity of aircraft has also affected manpower demand in the industry because technical personnel like pilots, engineers, marshallers and cabin crew, have to seek offshore jobs because total number of aircraft fleet among domestic operators shrunk to less than 40 per cent of fleet capacity 10 years ago.
Nigerians seeking jobs as pilots, flight officers, cabin crew and others, they stated, may not get such jobs in Nigeria because of
limited capacity and they may not have horned their skills enough to secure offshore jobs, so, overall, the aviation industry is retarded.
During the Buhari administration the then Minister of Aviation, Hadi Sirika, included establishing aircraft leasing company as one of the items in his aviation roadmap that would be accomplished before the end of the administration, but it never happened despite his assurances.
Justifying the need for a leasing company, the Ministry of Aviation and Aerospace Development, in July 2018, made a presentation and indicated that international aircraft leasing companies do not consider West and Central Africa as a major market due to their perceived risks, including revenue, tendency to repudiate agreements and maintenance risks, as there is no major maintenance facility in
the two sub-regions.
The ministry noted then that it was pertinent to have a leasing company because as at then and now there is no Aviation Leasing Company in Africa. The average age of the African aircraft fleet has been traditionally high compared to the rest of the world, however this situation has been improving dramatically with 45 per cent of the fleet now less than 10 years old (then). The presentation noted that aircraft acquisition is an expensive proposition for most African airlines, resulting in high financing cost.
“It has been estimated that about 70 per cent of commercial aircraft in Nigeria are financed with the attendant high financing costs having a negative impact on profitability. Aircraft leases are not
easily available as most of the major international lessors are reluctant to lease aircraft to small/medium airlines in Africa due to perceived risks. Thus, airlines in Nigeria generally cannot afford modern aircraft, with the average age of aircraft in operation being 20 years old,” the ministry noted.
Speaking in support of such project, the Managing Director of Aero Contractors, Captain Ado Sanusi, had suggested that the federal government should use its corporation to midwife the establishment and this may be referring to one of the subsidiaries of the Central Bank of Nigeria (CBN). He noted that this would make it easy for ALC to kick-off with initial funding by government.
However, aviation industry expert and former Rector of
College of
told THISDAY that if Nigeria needed to establish a leasing company, it has to justify it in terms of the need, its ownership and management preferences. “A leasing company is needed to take off the burden of buying equipment when the operator would focus on providing a competitive travelling experience to air passengers. The maturity of the financial structure in the country impacts the competitiveness in a global industry like air transportation. Unfortunately, Nigeria is an emerging market with still weak financial structure and the cost of capital is very high and uncompetitive in a global market.
Managing Director Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho (Middle); Director General Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Mustapha Audu (Right) and Deputy Comptroller-General of Customs, DCG, CK Niagwan (Left ) During the Inauguration of the Ports and Customs Efficiency Committee (PCEC) by the Presidential Enabling Business Environment Council at the NPA Headquarters, Marina-Lagos… yesterday
Despite high inflation rate and other economic woes plaguing businesses in the country, stakeholders in the Nigerian insurance industry have said that the sector has remained resilient having successfully raked in N1.2 trillion annual premium income as at the end of Q3 2024.
This indicates 61 per cent year-on-year growth when compared to N1.003 trillion premium achieved in the same period in 2023.
This was disclosed by the
Chairman Nigeria Insurers Association (NIA), Mr. Kunle Ahmed in his report on Insurance Industry Performance for 2024. Ahmed, while addressing the media at the NIA Secretariat in Lagos, said the 2024 performance of the insurance industry, revealed a complex landscape marked by significant growth in certain areas alongside persistent and emerging challenges.
He noted that while specific data for the entire year of 2024 is still being consolidated, the trends and available reports offer valuable insights.
“Available data up to the end of Q3 2024 indicated robust growth in gross premiums with a 61 per cent year-on-year increase in Q3 2024, reaching N1.2 trillion. This growth was largely driven by the non-life insurance sector, which constituted approximately 69 per cent of the total premium income. Within the non-life business, Fire, Oil & Gas insurance were significant contributors to the increased revenue. All non-life business products showed robust quarter-on-quarter growth,“ Ahmed said.
According to him, life insurance
business also experienced substantial growth, with the report indicating a 45 per cent quarter-on-quarter increase in Q3 2024.
He observed that Group Life emerged as the largest premiumgenerating component within the life segment.
Ahmed said despite a rise in the net loss ratio in Q2 2024 compared to Q1 2024, the Nigerian insurance market remained profitable overall.
The total assets reached N3.9 trillion by the end of September 2024, demonstrating a healthy expansion.
On the impact of Police
Enforcement of 3rd-Party Motor Insurance, he said stricter enforcement of the Policy which commenced February 1, 2025,was generating significant effects on both the insurance industry and policyholders in Nigeria.
“The most immediate and significant impact is the substantial increase in the purchase of thirdparty motor insurance policies. This surge in demand directly translates to higher premium income and overall revenue growth for insurance companies. Available reports indicated a significant increase in the uptake, and this
trend is expected to be amplified by continued enforcement in 2025 and beyond,” he said. He however said the increase in uptake implies increase in the volume of claims and overall potential liabilities of insurance companies, adding that this would necessitate that insurance companies enhanced their claims processing efficiency and customer service capabilities to handle the increased workload and ensure policyholder satisfaction.
Stories by Chinedu Eze
The Institute of Chartered Accountants of Nigeria (ICAN) has inaugurated Aviation Chapter with the investiture of pioneer leadership, as the institute called for flexibility and visionary financial strategy rooted in the industry.
The Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, described the inauguration of the Aviation Chapter as a timely and visionary step that aligns with ongoing reforms in Nigeria’s aviation sector.
Speaking at the event in Lagos, the minister commended ICAN for its continued commitment to nation-building through financial integrity and governance.
Represented by the Director, Special Duties, Federal Airports Authority of Nigeria FAAN, Mr. Henry Agbebire, the minister remarked that the newly inaugurated chapter, launched under the theme: ‘Flightpath to Financial Excellence: Integrating Strategy, Systems, and Standards’,
would play a crucial role in fostering professional excellence and instilling financial discipline across the aviation value chain.
According to him, the synergy between finance and aviation is critical to driving infrastructure development and ensuring operational sustainability in the industry.
He therefore expressed confidence that the chapter’s activities, including its advocacy and thought leadership would help bridge the gap between technical operations and financial stewardship, ultimately contributing to sustainable growth in the sector.
The guest speaker at the event and General Manager, Operations Integrity Heritage Energy Operational Services Ltd, Nelson Wilbert, emphasised capital efficiency, demand-driven investments, data-backed planning, and a performance culture that links financial goals with operational outcomes.
“Strategic financial leadership is
about asking the right questions. Ask yourselves: Are we funding the future or merely financing the past and maintaining the present? Are we investing in resilience as much as profitability, or just mitigating risks? A mission-minded strategy embraces anti-fragility—the ability to grow stronger amid volatility.
It means prioritizing capital efficiency, data-driven foresight, and investments that don’t just withstand disruption but thrive because of it,” he said.
Pioneer Chairman of Aviation Chapter of ICAN, Ayodele Olatiregun, said the chapter is founded on three pillars which include professional excellence, strategic collaboration and sustainable system.
“Today we chart a course on a vital journey - a flight path to financial excellence. Like a wellcoordinated Air traffic operation, achieving financial excellence in our aviation sector requires three critical elements: a clear strategy, efficient systems, and adherence to sound standards,” Olatiregun said.
The Nigeria Civil Aviation Authority (NCAA) is organising an Aviation Security Awareness and Enlightenment Symposium in Lagos, aimed at promoting collaboration and strengthening the aviation security governance architecture in Nigeria.
The event themed: “The Fundamentality of Security in Achieving the Safe Skies Goal,” will bring together key stakeholders across the aviation value chain to
exchange ideas on enhancing aviation security systems.
According to the Director General of NCAA, Capt. Chris Najomo, the symposium is a landmark initiative designed to reinforce security consciousness and build a resilient aviation security ecosystem.
He emphasised that security is the backbone of civil aviation and that a shared security culture driven by knowledge, vigilance, and cooperation is essential to
protecting the skies and ensuring the safety of passengers, crew, and infrastructure.
The symposium will focus on emerging threats, coordination and collaboration between aviation operators and security agencies, the role of innovation and technology in aviation security, building a proactive and securityinformed workforce, and enhancing compliance with global aviation security standards.
In recognition of his outstanding leadership, professionalism, and remarkable contributions to Nigeria’s banking sector, the Pan African American Chamber of Commerce (PAACC) has conferred Honorary Citizenship of the State of Atlanta, Georgia on the Managing Director of Parallex Bank, Dr. Olufemi Bakre.
The honorary recognition was presented during the 2025 Trade Conference of PAACC, held in Atlanta, Georgia. The annual event, organized in collaboration with EXIM Bank and the African Union, celebrates impactful leaders who have made significant contributions to trade, investment, and socio-economic development across Africa and the diaspora.
Describing the honor as well deserved, Chief Executive Officer of PAACC, Mr. Chuck Barlow, praised Dr. Bakre for his visionary leadership, which has positioned Parallex Bank as a key player in fostering international trade and investment. He noted that Dr. Bakre’s integrity, transparency, and commitment to innovation have been instrumental in the bank’s rise to prominence.
“Dr. Bakre embodies the values
of excellence and ethical leadership. His ability to steer Parallex Bank to global relevance, especially in promoting cross-border trade, is commendable,” Barlow said.
With this recognition, Bakre joins a distinguished group of Nigerians who have received similar honors, including Pastor E.A. Adeboye, General Overseer of the Redeemed Christian Church of God, and Senator Douye Diri, Governor of Bayelsa State.
Nigerian carrier, Overland Airways has commenced flight service to Minna Airport, Niger State.
During the inauguration ceremony, Niger State Governor, Mohammed Umar Bago, commended the federal government for the support it gave the state to rehabilitate and upgrade the airport.
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He said this reflected on the federal government’s strong commitment to using aviation as a driver of economic growth.
Bago added that Niger State would continue to pursue an ambitious vision to develop an Airport City, equipped with purpose-built infrastructure to support long-term economic and transport goals.
He said: “We thank our father, President Bola Ahmed Tinubu for the support that has encouraged us to fix the airport, which is now functional to attract investors and economic development to our state. We intend to establish an aircraft, repair centre and other facilities that will drive development in the state.”
On his part, the Chief Executive Officer of Overland Airways,
Chinedu Eze
In the last two weeks, there were several reports about the alleged planned concession of Akanu Ibiam International Airport in Enugu for 80 years to a faceless company not registered with the Corporate Affairs Commission (CAC).
THISDAY carried out its investigations and found out that most of the reports were based on assumptions and propaganda, aimed at stirring emotions with false allegations to wake up bile in people, especially those from the South East region who have nostalgic attachment to the airport.
Social media literally erupted with unverified reports about the concession, erroneously indicating that the airport was hijacked by a kind of cabal from Abuja.
The exaggerated and false reports prompted the Ministry of Aviation and Aerospace Development to issue a statement and pointed out three key issues: one, that no concession has taken place; two, that no time line has been given for the duration of any airport concession, including the 80 years being bandied about, and that the ministry has plan to concession five major airports in the country, which include the airports in Lagos, Abuja, Kano, Port Harcourt and Enugu.
In the statement signed by the spokesman of the Minister of Aviation and Aerospace Development, Festus Keyamo, the ministry explained that the concession became necessary to bring in private sector funds to further develop the airports and upgrade them to a level they could be compared to the best airports in the world.
Captain Edward Boyo, described airline connectivity as the catalyst to drive economic transformation.
Boyo said: “The launch of this flight services from Minna to Lagos and Abuja is the beginning of restoration of important air connectivity to Minna and its environs and we count on your support to sustain this flight services. The Governor has great plans and we hail and admire his ambition.
“Overland is here to support him fully. Overland Airways is ready. We have deployed on this route our brand-new Embraer E-175 aircraft which features Premium and Economy cabins. This is the latest technology in aviation and we assure you of our excellent services and courteous staff.
“We express our profound gratitude to the President and Commander-In-Chief of the Federal Republic of Nigeria, Bola Ahmed Tinubu for his Renewed Hope Agenda which has reflected greatly in the aviation sector. We thank the Executive Governor of Niger State, Mohammed Umaru Bago for this opportunity.”
The ministry emphasised that the initiative to concession the airports started from previous administrations and noted: “At this stage, prospective concessionaires have indeed submitted various proposals, including different durations for the concession. It is important to emphasize that the Ministry of Aviation and Aerospace Development has not established any fixed duration. All submitted proposals are currently undergoing thorough evaluation that will eventually be reviewed by the ICRC (International Concession Regulatory Commission) before it is presented to the Minister for conveyance to FEC for approval.”
The statement also emphasised: “We must state unequivocally that the information suggesting a pre-determined concession duration is false, unfounded, and intended to cause unwarranted disaffection and mistrust in this process by those with entrenched interests.”
THISDAY investigation also revealed that the Enugu state government is not in the dark about the planned concessioning. In fact, the plan to concession the airport, THISDAY learnt, was in tune with the vision the state government has for the airport. In 2023, the Enugu State governor, Peter Mbah, had disclosed the plan of his administration to build cargo facility at the airport for the storage and airlift of agri-produce from the state for export and embarked on massive investment in agriculture in order for the state to produce cash crops for export.
In May last year, the governor met with the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, and also reiterated his intention to see to the expansion of infrastructure at the Enugu
airport to be in tandem with the lofty plans of the state government.
Mbah had pledged that his government was determined to make the state the preferred destination for investment, business, tourism, and living as well as grow the state’s economy from the current $4.4 billion GDP to $30 billion GDP in the next four to eight years.
“For example, in our plan for tourism, we have projected to have over three million visitors come into Enugu State every year from next year. So, when we think in numbers, in terms of logistics, we will be expecting over 100 flights to come into Enugu on a daily basis. Therefore, the current infrastructure cannot handle it,” he said. So, the government must have welcomed the plan of the Minister of Aviation and Aerospace Development, to concession the Enugu airport along other major airports in the country.
But contrary to the reports on social media about the concession of the airport, which some reports indicated had been completed, THISDAY learnt from insider source in the ministry that the federal government had directed that before the five airports would be given out in concession, they have to be rehabilitated, which is what the management of FAAN is already doing.
At the Murtala Muhammed International Airport, Lagos, FAAN has upgraded all the security equipment, trained Aviation Security personnel to fortify security at the airport as well as other airports in the country. It is also carrying out infrastructure rehabilitation at some of the airports, including the resurfacing of the runway at the Akanu Ibiam International Airport, Enugu.
On the controversy about the alleged 80 years concession plan, which many saw as anathema and an aberration, THISDAY spoke with the Managing Director of Asaba International Airport, Delta State, Christopher Penninck, who said that it is not out of place to have such long-term concession. In fact, he said that in Europe a concessionaire could have concession contract in perpetuity but built in the agreement are phases of development of the airport infrastructure, landing aids, modernisation, training, manpower growth and others and if the concessionaire reneges on any of the conditions, the concession contract will be terminated.
“Because of the high capital outlay involved in airport development, airports can be given out in concession for the long term; so, the 80 years concession plan is not outrageous. There could be a concession contract in perpetuity. It happens in Europe; but such contract is guided by KPIs (Key Performance Indicators), which the concessionaire must keep to or the concession will be terminated. In the agreement, it will be specified that you must give X amount to government and X amount to other entities and the agreement must go with the projected growth and quality of infrastructure expected,” he said. Penninck also advised that whoever that would be given the concession must be a Nigerian company, “not international company because international company may make a lot of money and leave the country with it.”
In a bid to woo global capital and enhance investor’s confidence, Nigeria’s top financial leaders presented a unified front at a strategic investment forum hosted at the Nasdaq MarketSite in New York. The event was organised by the Central Bank of Nigeria (CBN) in collaboration with Nigerian Exchange Group (NGX Group), JPMorgan, and the African Private Capital Association (AVCA).
landscape and its readiness to attract global capital for sustainable growth.
The exclusive gathering brought together leaders from the Nigerian diaspora, global investment institutions, and corporate executives for insightful dialogue on the country’s evolving financial
Imo State government will be hosting this year’s Artificial Intelligence (AI) and Robotics summit, being organised by the Nigeria Computer Society (NCS), the umbrella body for all Information Technology (IT) professionals in Nigeria.
Scheduled to hold in Owerri, the event will play host to some of the brightest minds in artificial intelligence, automation, and emerging technologies.
The two-day summit promises to be a landmark event, bringing together industry experts, innovators, academics, policymakers, and entrepreneurs from across Nigeria and beyond to explore the transformative power of AI
and robotics in shaping the future of work, business, education, and governance.
The keynote addresses will be delivered by global and local thought leaders in AI and robotics. some of which are: Executive Governor of Imo State, Senator Hope Uzodimma; Minister of Communications and Digital Economy, Dr. Bosun Tijani etc. President of NCS, Dr. Muhammad Sirajo Aliyu, said: “We believe Africa has the talent and creativity to lead in the global AI revolution. The summit is a platform to spark collaboration, drive policy dialogue, and inspire innovation that works for our people. Participation is open to professionals, students, and anyone with an interest in the future of technology.”
Agnes Ekebuike
OPPO has launched its latest smartphone, called the OPPO A5 Pro, which comes with the latest IP69 water and dust resistance, which allow users to take pictures with the phone when immersed in water while swimming or when the user is under the rain.
Speaking at the product launch in Lagos recently, Head of Marketing at OPPO, Caroline Wang, said the smartphone was designed specifically to meet the needs enthusiastic phone users that are in love with AI-enabled smartphones.
“OPPO will continue to design and build smartphone devices with the latest in mobile technology and innovation for our customers, and OPPO A5 Pro is no exception. We are confident that the new device will make a significant impact in the market and give a great experience to all users. We have come a long
way over the years and we intend to continue expanding our presence in Africa and Nigeria,” Wang said. Marketing Manager at OPPO, Folashade Omonijo, said with the launch, the company would continue to offer high-quality product application to its Nigerian customers.
National Training Manager, OPPO Nigeria, Victor Igweonu, said: “Aside the water and dust resistance, the OPPO A5 Pro also comes with a military-grade test resistance. This enables users to handle the phone freely without fear of screen damage or phone damage since it can absorb shock and remain un-cracked even if it falls from a two or four-storey building.”
Another unique selling point of the phone model is the AI-Link Boost, which helps to enhance the network on the phone, when the user is in an area where the network signals are weak, Igweonu further said.
Governor of the CBN, Olayemi Cardoso in a fireside chat with Nobel Prize-winning economist Dr. James Robinson, outlined Nigeria’s monetary policy direction, growth prospects, and efforts to deepen its financial markets.
He reaffirmed the CBN’s commitment to disciplined policy management, market-friendly reforms, and enhanced transparency to foster a stable, investor-friendly
environment. Cardoso also stressed the importance of strong collaboration between regulators like the CBN and market operators such as NGX Group, describing it as critical to building a resilient financial system and mobilising long-term investments.
Group Managing Director/CEO of NGX Group, Temi Popoola, moderated an engaging discussion on how Nigeria’s reforms are repositioning the country as an increasingly attractive destination for global capital. “Today’s dialogue
marks a pivotal step in reshaping global perceptions of Nigeria’s investment story,” said Popoola.
“The candid engagement between policymakers, market operators, and investors reflects the real progress Nigeria is making. NGX Group remains committed to supporting reforms that strengthen market structures, drive innovation, and accelerate economic growth.”
While investors welcomed Nigeria’s reform agenda, they emphasized that sustained confidence will require consistent
FX policies, lower transaction costs, reduced regulatory friction, clearer direction on non-oil revenue reforms, an improved ease of doing business, and continued transparency in monetary and fiscal communication.
The forum ended on an optimistic note, with participants expressing strong confidence in Nigeria’s economic prospects and its potential for deeper integration into global financial markets, provided reform momentum continues.
Ebere Nwoji
The Nigerian Insurers Association ((NIA), has commended the Nigerian Police Force (NPF) for championing the enforcement of the Compulsory Third Party Motor Insurance in the country saying that collaboration between the insurers and police has significantly improved compliance of motorists with the policy across the country.
The Director General of NIA, Mrs Bola Odukale gave the commendation recently when she
led a team of NIA secretariat staff on a courtesy visit to the Lagos State Commissioner of Police, CP Olorundare Jimoh..
Speaking during the visit, Odukale extended sincere appreciation to the Inspector General of Police, IGP Kayode Egbetokun, for championing the enforcement, adding that the collaboration has significantly improved compliance across the country.
She noted that the visit underscored NIA’s commitment to promoting industry growth
and protecting the interests of the insuring public.
Odukale emphasised the importance of the motor insurance policy, noting that many motorists underestimated its value and benefits.
The NIA boss promised to further collaborate and support the police, by among other things organising workshops and trainings for Divisional Traffic Officers to improve their knowledge on insurance business, particularly third-party motor insurance.
She further said the visit was part
of efforts to enhance collaboration on the enforcement of the Third-Party Motor Insurance Policy.
She congratulated Jimoh on his appointment and commended the police for their role in improving compliance with the policy since its enforcement began on February 1, 2025.
In his response, Jimoh commended the role insurance plays and assured the NIA team that the police would continue to enforce the policy, as directed by the Inspector General of Police.
Vice President Kashim Shettima, has called on Ministries, Departments, and Agencies (MDAs) of government, as well as members of the Presidential Enabling Business Environment Council (PEBEC), to deepen collaboration in order to foster a more conducive environment for doing business in the country.
Speaking at the closing session
of the PEBEC Retreat for heads of MDAs and MDA Reform Champions held in Abuja, Vice President Shettima emphasized that the overarching goal is to ensure Nigeria remains a preferred destination for investors.
He stated: “This retreat was convened by the Presidential Enabling Business Environment Council (PEBEC), an institution
I am privileged to chair, not just to review reform progress, but to deepen something even more critical: synergy. The business of government is too complex to be solved in silos. We cannot afford the luxury of working in isolation, while the problems we are tasked to solve are increasingly intertwined.”
Among the attendees was the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, who commended PEBEC for organising the retreat. He noted that it provided a valuable platform for peer review and constructive engagement among Federal Government appointees, aimed at improving institutional performance and reform delivery.
The Nigeria Civil Aviation Authority (NCAA) and Lufthansa Airlines at the weekend in Lagos held discussion on how air transport could make efforts to further curb pollution and protect the environment by operating aircraft with the lowest emissions and adopting other ways to reduce emission to zero over time.
Director of Air Transport
Regulations, Nigeria Civil Aviation Authority (NCAA) Mrs. Olayinka Babaoye-Iriobe, who was represented by Mrs. Evelyn Tanko, Deputy General Manager, (Commercial Agreement and Aviation Environment) spoke on behalf of NCAA and stated that the Authority is empowered by the Civil Aviation Act, 2022 to regulate emission and reduce the pollution in aciation. She said NCAA is committed to
the sustainability of the industry and would champion the curbing of emission in air transport in Nigeria.
Babaoye-Iriobe disclosed that NCAA domesticated ICAO Annex 16 on Environmental Protection into the National regulations under Part 16 of Nig. CARS which covers requirements for monitoring, reporting, and verification of CO2 Emissions for international aviation, and Part 5 addresses aircraft noise
and emission certification.
In a speech, the Senior Director (Sales), Lufthansa, Sub-Sahara Africa, Mr. Rene Koinzack said that the airline has deployed Science- Based Target Initiatives (SBTI) which comprises modern fleet, efficient flight operations, carbon neutral flying, sustainable aviation fuel, reduction of waste and plastics as part of their effort to sustain the industry.
Kayode Tokede
United Bank for Africa (UBA) Plc, has released its unaudited financial results for the first quarter (Q1) ended March 31, 2025, showing remarkable double-digit growth across all its major income lines.
On the back of its recently released 2024 full year financials on the Nigerian Exchange Limited (NGX), UBA again saw its Profit Before Tax (PBT) rising impressively to N204.26 billion in Q1 2025, up by 31 per cent from N156,34 billion in
Q1 2024, while profit after tax (PAT) jumped from N142.58 billion last year, to N189.84 billion representing an remarkable increase by 33.15 per cent.
The group’s gross earnings closed Q1 2025 at N764.31 billion, a significant increase of 34.05 per cent from N570.2 billion in Q1 2024 while interest income which stood at N440.76 billion in Q1 2024, grew by 36.09per cent to N599.83 billion in Q1 2025.
The bank’s total assets continued on its upward trend as it increased by 4.58 per cent from N30.23 trillion
in December 2024 to N31.71trillion in March 2025, while shareholders’ funds also rose to N3.7trillion up from N3.4 trillion recorded in December 2024.
Commenting on the results, UBA’s Group Managing Director, Oliver Alawuba, in a statement said the bank is on a solid start for the 2025 financial year which, according to him, reflects its disciplined execution of its strategy and the sustained momentum of the business model of driving strong earnings growth, maintaining
robust asset quality, and expanding market share. He said, “Our results this quarter underscore the effectiveness of our focus on core banking operations, prudent risk management, and ongoing investments in customer-centric innovation.
“The Group recorded a profit before tax of N204.2 billion, with total deposits up eight per cent from N24.65 trillion at FY 2024 to N26.64 trillion. Total assets rose five per cent to N31.7 trillion, compared to N30.3 trillion at year-end, driven
What started as a tagline for Golden Terra Oil has evolved into a powerful expression of kindness and care across Nigeria. The phrase “Pour Pure Love” now resonates far
beyond advertising—capturing real moments of generosity, affection, and community spirit.
A viral video of an elderly woman tipping a young labourer sparked the
movement’s growing popularity.
As he smiled and called out, “Mama, Pour Pure Love,” it was clear the campaign had become more than a slogan—it was now a shared language
The Onne Multipurpose Terminal (OMT) in Rivers State has once again made history, successfully hosting the Kota Carum—the largest vessel ever to berth at the Onne Federal Ocean Terminal (FOT). The milestone event occurred on Wednesday, April 16, 2025, further underscoring OMT’s growing prominence as a hub for large-scale maritime trade in West Africa.
Flying the Singaporean flag, the Kota Carum is owned by Pacific International Lines (PIL), one of Asia’s leading shipping companies. The mega
container vessel, measuring an impressive 301.43 metres in length overall, arrived at the OMT jetty at 10:30 hours and was safely berthed by 10:50 hours, utilizing berths 9 and 10.
Boasting a capacity of 6,606 TEUs (Twenty-foot Equivalent Units), Kota Carum is a major addition to the line of large vessels now calling Onne Port. During its 55-hour port stay, the vessel will discharge 1,250 containers and load 1,619 containers—including export-bound cargo and empty containers.
Speaking at a reception to
welcome the vessel, Chief Operating Officer of OMT, Jim Stewart, described the call as a landmark event not only for the terminal but for Nigeria’s maritime industry at large.
“We are incredibly honoured to receive the largest vessel to ever berth at Onne. Following the arrival of the Kota Cempaka last year, this achievement reflects our continued growth, our strategic investments in terminal infrastructure, and our unwavering commitment to operational excellence,” Stewart stated.
of compassion. At its heart, the “Pour Pure Love” campaign highlights that cooking is an act of love. With every meal made using Golden Terra Oil, families are not just
by balanced growth across all our business segments. These strong results were achieved in the face of persistent macroeconomic headwinds, geopolitical risks and global trade uncertainties,” he stated.
He noted that UBA remains focused on disciplined growth and continued investment in technology, data, innovation, and talent in ensuring that customer experience is consistently enhanced to create long-term value for all stakeholders.
Also speaking on the performance, UBA’s Executive
nourishing their bodies—they’re pouring love into their homes.
The phrase has now found its way into everyday conversations, symbolizing small acts of kindness,
Director, Finance and Risk Management, Ugo Nwaghodoh, explained that the Q1 2025 results reflects the resilience of the bank’s diversified business model as well as the disciplined execution of its strategy.
“We maintained strong cost discipline, keeping operating expense growth below the average inflation rate. This enabled operating income growth to outpace expenses, contributing to positive operating leverage and strong bottom-line growth,” he stated.
thoughtful gestures, and emotional connection. From social media tributes to reallife surprises, Nigerians are embracing this message as a way of life.
Leading law firm in Nigeria, Olisa Agbakoba Legal, has advocated for the engagement of Ship Managing Companies, such as, NBC Maritime Ltd, as a business rescue model, in settling funding disputes between Ship-owners, and their funding banks, rather than through court injunctions.
Speaking at the OAL Breakfast Meeting, held yesterday with the theme, “Ship Management, a Commercial Strategy for Business Rescue,” the Managing Partner, OAL, Yvonne Ezekiel, noted that, “when ship owners
struggle to repay loans to banks, a commercial decision must be made.
“Instead of going to court and risking the ship being grounded, bringing in a ship manager to oversee the vessel, generate revenue, and ensure payments to the ship owner, bank, and manager themselves, creates a win-win situation for all parties involved.
“There are several challenges surrounding the maritime business, especially from a ship-owner perspective. Access to finance is a major challenge, with high interest rates often reaching double digits.
“Even when ship owners secure loans, they might not use the funds for their intended purpose, leading to trouble down the line. Additionally, the industry faces multiple regulators and charges, adding to the burden.
“Some ship owners also tend to overlook maintenance, which can cause operational issues and impact their ability to repay loans. Without proper maintenance, ships can run into trouble, become unworkable, and ultimately struggle with loan repayment to lenders. These are some of the key challenges faced by ship owners.”
Come Tuesday, April 29, 2025, the spotlight will once again turn to a man whose immense contributions to Africa’s economic and social development often speak louder than his words. Revered for his entrepreneurial genius across sectors like oil and gas, banking, telecommunications, and real estate, Dr. Mike Adeniyi Ishola Adenuga Jr. (GCON) stands tall not merely for the fortune he has amassed, but for the quiet power with which he transforms lives. As he turns 72 on April 29, Chiemelie Ezeobi writes that what sets Adenuga apart is not just his position as one of Africa’s wealthiest men, but his enduring legacy of service and silent philanthropy. Through the Mike Adenuga Foundation and his corporate platforms—most notably Globacom—he has invested in people, powered dreams, and quietly supported national institutions, communities, and causes, over the course of a life trajectory rooted in diligence, humility, and purposeful commitment to uplifting humanity—one life at a time
In a world where billionaires often court the limelight, Dr. Mike Adeniyi Ishola Adenuga Jr., GCON, remains an enigma — a towering figure whose influence spans oil, telecoms, banking, real estate, and philanthropy, yet who prefers to let his work speak for itself.
As he turns 72 on April 29, Adenuga’s story is not just about wealth creation but about lives quietly transformed, cultures uplifted, and communities empowered through one man’s silent but steadfast commitment to Africa’s development.
Humble Beginnings
Born in Ibadan on April 29, 1953, into the family of Chief Mike Adenuga Snr. and Madam Oyindamola Adenuga, a respected trader and the Yeyeoba of Ijebuland, Adenuga’s story is woven with grit and ambition. He attended the Ibadan Grammar School before pursuing a degree in Business Administration at Northwestern State University in Oklahoma. He later earned a Master’s in Business Administration with a marketing focus from Pace University, New York — a foundation that shaped his sharp branding instincts.
At just 26, he made his first million distributing soft drinks and selling lace. From these modest beginnings, Adenuga built a business empire that spans from Worldspan Holdings to Conoil in oil and gas, Globacom in telecommunications, and Sterling Holdings in finance — each contributing significantly to Nigeria’s economic fabric.
Philanthropy Without Applause
What truly distinguishes Adenuga, however, is not just his success in boardrooms but his deep-seated compassion for the vulnerable — often expressed with deliberate discretion. Through the Mike Adenuga Foundation, his philanthropic reach is vast and impactful, though rarely publicised.
Essentially, in a world where philanthropy often comes with fanfare, Dr. Mike Adenuga Jr. stands apart as a quiet yet formidable force for good. The Nigerian billionaire, renowned for his business acumen in telecommunications and oil, has consistently channelled his wealth into transformative initiatives that uplift communities across Nigeria and beyond.
Through the foundation and his flagship company, Globacom, he has touched countless lives, often without seeking recognition as his philanthropic journey is deeply personal and purpose-driven.
The Mike Adenuga Foundation (MAF), his primary vehicle for charitable endeavours, focuses on improving the quality of life for disadvantaged individuals and communities. From disaster relief to healthcare support, the Foundation’s initiatives are as diverse as they are impactful.
In 2020, during the COVID-19 pandemic, the foundation donated N1.5 billion to Nigeria’s emergency response — N1 billion to the Central Bank’s relief fund and N500 million to the Lagos State Government. The foundation also delivered vital supplies including PPEs, respirators, masks, test kits, and sanitizers across health institutions nationwide.
When floods ravaged Bayelsa State, the foundation responded with over N70 million in relief materials — mattresses, blankets, food, and cleaning products — directly aiding displaced families. These acts were not followed by press conferences or self-praise, but by silent impact and quiet restoration.
Also, through Globacom, Nigeria’s indigenous telecommunications giant founded
by Dr. Adenuga, he mirrors his philanthropic ethos through various corporate social responsibility (CSR) initiatives.
Champion of African Culture and Sports
Adenuga’s love for Africa is not only seen in commerce, but in culture and sport. Globacom has been the most consistent supporter of football in Nigeria and Ghana, sponsoring leagues, national teams, and the prestigious CAF African Player of the Year awards. The company reportedly spent over 15 billion on Nigerian football alone, and CAF fittingly honoured him as the Pillar of African Football.
In culture, Globacom has sponsored key traditional festivals like Ojude Oba and Eyo, safeguarding heritage and promoting tourism. These sponsorships play a crucial role in preserving Nigeria’s rich cultural heritage and promoting unity among its diverse populations.
Media and Storytelling
Understanding the power of storytelling, Globacom sponsors “African Voices,” a CNN programme that highlights game changers across the African continent. This platform amplifies African narratives, celebrating innovation and resilience, and positioning Africa positively on the global stage.
Towering in the Telecoms, Oil Industry
As chairman of the Mike Adenuga Group, Adenuga has not only built businesses — he has built people. Conoil, Nigeria’s first indigenous oil company to produce oil in commercial quantity, today operates six prolific blocks in the Niger Delta, producing approximately 20,000 barrels daily and boasting millions of barrels in reserves. Yet, beyond the figures lies employment — thousands of direct and
indirect jobs that have lifted families and stabilised communities.
In telecommunications, Adenuga is credited with democratising phone ownership in Nigeria. Through Globacom, he introduced per second billing, crashed SIM prices from 50,000 to 100, and connected rural areas long ignored by multinational operators. Globacom’s wholly-owned Glo 1 submarine cable connects West Africa to the UK, delivering fast, affordable internet to millions and enabling digital inclusivity.
And still, he presses forward. The new Glo 2 submarine cable, now under development, will reach underserved oil communities in the South-South and South-East, powering “digital oilfields” and uplifting remote economies.
A Corporate Family with a Heart
To Adenuga, employees are not just numbers — they are the backbone of his vision. During Globacom’s 20th anniversary, hundreds of staff were flown to Lagos for an appreciation gala. Many were honoured for 20 years of service — a rare feat in today’s high-turnover corporate world. What stood out was not just the opulence of the celebration, but the pride his staff expressed in being part of a company that values their loyalty.
Under the stewardship of his daughter, Bella Disu, this culture of empathy continues — a legacy of love for people that is woven into the very fabric of the Adenuga business philosophy.
Redefining Banking and Real Estate
In banking, Adenuga’s former Equitorial Trust Bank (ETB) was one of the few that met the 2005 recapitalisation requirement without external help, eventually merging into Sterling Bank, where his interests
remain strong. Today, Sterling Financial Holdings includes the innovative Alternative Bank, one of Nigeria’s pioneers in non-interest banking. His real estate arm, Cobble-Stone Properties, boasts over 200 landmark buildings including the iconic Ilé jà development. Each property is not just a structure but a statement of intent — to redefine urban spaces and enhance city living.
Honours Without Hubris
Despite a long list of awards — including GCON, Commander of the Legion of Honour (France), and Ghana’s Companion of the Star of Ghana — Adenuga remains grounded. Universities have conferred doctorates; newspapers have named him “Entrepreneur of the Decade,” and international media have crowned him Africa’s most influential telecoms mogul. Still, he shuns the spotlight, content with the quiet pride of contribution.
A Legacy Written Through Lives Touched
As he turns 72, what endears Mike Adenuga most to Nigerians is not merely his wealth, but his willingness to use it for the common good. Whether it is the health worker protected during a pandemic, the child in a remote village connected to the internet, or the employee who can proudly raise a family — their lives tell the real story of Adenuga’s impact.
In the words of those who know him, his greatest legacy is not his oil wells or fibre cables, but the lives he has quietly transformed — with no ceremony, no tweets, no hashtags. Just impact! And for them, that is the quintessential Mike Adenuga, a truly great man who shuns the spotlight. As he marks another birthday, Dr. Mike Adenuga Jr. remains a study in diligence, entrepreneurial excellence and quiet philanthropy — transforming lives across Africa without ever seeking the spotlight.
Haithem Debbiche, a Tunisian national with deep roots in North Africa, has over the past 21 years built a career at Tetra Pak, contributing to operations across Tunisia, Algeria, and other North African markets. In this interview, Debbiche, who is the Managing Director, Tetra Pak West Africa, shares insights on the company’s Lagos office relocation and its alignment with sustainability, innovation and market expansion goals. Precious Ugwuzor brings excerpts
What has your journey at Tetra Pak been like?
My journey at Tetra Pak has included shaping high-level decisions and being at the forefront of strategy in collaboration with global headquarters in Lausanne, Switzerland, and our manufacturing and innovation hub in Italy.
I have a pivotal role in driving the company’s revenue and achieving its sales objective while cultivating strong relationships with customers, partners and key stakeholders. I lead a team of highly efficient staff in West Africa who are at the center of our operations and who make the business a success.
While I’m geographically distant from Tunisia, Nigeria’s vibrant culture and entrepreneurial spirit resonates closely with my African heritage, making Lagos my second home.
What is your perspective on Nigeria’s market?
Since assuming the role of Managing Director for Tetra Pak West Africa in May 2024, I’ve been struck by Nigeria’s immense potential. Believe it or not, when I came in May, it was my first time in Nigeria though I had earlier visited some East and South African countries.
Nigeria as Africa’s largest economy offers a dynamic market brimming with opportunities, albeit accompanied by unique challenges. Nigeria’s market is dynamic with a lot of room for impactful initiatives that drive the economy. From the growing online E-Commerce expansion to technological advancement and an evergrowing FMCG sector to Nigeria/s urbanization and population, Nigeria is the land of opportunity.
These challenges inspire innovation—pushing us to develop tailored solutions for our customers and communities. Nigeria’s scale and diversity align with Tetra Pak’s strategic focus on driving sustainable growth in high-potential regions. The challenges and opportunities presented by Nigeria’s market drives us to make strategic and sustainable innovations to office solutions that are tailor made for the consumers and meeting local needs.
What prompted Tetra Pak’s office relocation, and how does it align with growth goals?
The relocation is part of Tetra Pak’s global “ActivityBased Working” strategy, designed to enhance operational agility and customer responsiveness. With our former Lagos office lease concluding, we seized the opportunity to adopt a workspace aligned with our Future Work Experience principles.
Tetra Pak future work experience is an initiative developed to empower all our employees to achieve their optimal work life experience, while meeting the needs of the company customers and the planet. It was driven by a comprehensive analysis of post-pandemic workplace dynamics, which highlighted critical themes for modernizing work environments.
Key insights included adapting to flexible hybrid
models, redefining offices as hubs for cultural connection and collaborative innovation, and prioritizing sustainability through eco-conscious design. Additionally, the research emphasized integrating wellness initiatives, advanced digital ecosystems, and talent-centric spaces to attract and retain skilled teams in a competitive landscape. These themes collectively underscored the need for workplaces that balance employee well-being, operational agility, and environmental responsibility. By aligning these global trends with Tetra Pak’s mission, the initiative crystallized into four strategic focus areas: fostering collaborative innovation, embedding sustainability into daily operations, enhancing employee well-being through holistic design, and leveraging technology to create seamless, future-ready workspaces. This approach ensures Tetra Pak’s offices not only reflect evolving workforce expectations but also advance the company’s commitment to protecting people, the planet, and long-term business resilience.
The redesigned office optimizes spatial efficiency, fosters cross-functional collaboration, and integrates advanced connectivity tools. These upgrades empower our teams to deliver faster, more innovative solutions - key to accelerating growth in West Africa. We were honoured to have a member from the Tetra Pak global team inaugurate the new office. The executive vice president, services, Roberto Franchitti led the staff at a ceremonial ribbon-cutting to open the office which was followed by a brief tour of the office.
How does this relocation benefit clients and partners?
A modern, efficient workspace directly translates to better service for our clients. By equipping teams with cutting-edge tools and collaborative environments,
we’ve streamlined communication and problem-solving.
Recently, we hosted a strategic half-day session with one of our customers in our new facility - the seamless connectivity and professional ambience enabled productive dialogue, underscoring how intentional design supports partnership success.
How does the new office foster collaboration and innovation?
Transitioning from traditional cubicles to an open-plan layout has dismantled silos, encouraging spontaneous interaction and knowledge-sharing. Proximity between departments—from Research and Development to commercial teams—sparks creativity and accelerates decision-making. This approach mirrors global best practices, fostering a culture where collaboration isn’t just encouraged but embedded in our daily operations.
How does the office reflect Tetra Pak’s sustainability commitments?
Sustainability is central to our brand promise. The Lagos office incorporates energy-saving motion sensors, recycled furniture, and paperless workflows, reducing our environmental footprint by 30% compared to the previous space. Additionally, our advanced teleconferencing systems minimize travel, aligning with global carbon-reduction targets. These measures are part of Tetra Pak’s broader ambition to achieve net-zero emissions across operations by 2030.
What sustainability initiatives are planned for Nigeria?
We’re building a circular economy for Used Beverage Cartons (UBC) by partnering with local recyclers and waste collectors. To amplify awareness,
we’re hosting dual stakeholder workshops in Lagos and Abuja this month, convening government agencies, NGOs, and global recycling experts. These forums aim to replicate successful models from Brazil and Southeast Asia, adapting them to Nigeria’s context while supporting national waste-reduction efforts. We are trying to replicate this in Nigeria, specifically in Lagos where there is a concerted effort by the state government to reduce waste and keep the city clean.
Last year we partnered Wecyclers Nigeria Limited- which focused on promoting environmental sustainability activities aimed at addressing the challenge of urban waste by providing low-income households with opportunities to generate value from recyclable waste. The model includes a rewards-for-recycling platform, where subscribers earn points which they exchange for essentials like food. The partnership aimed at educating consumers that UBC are recyclable and can be given a new lease of life to create new items from Eco-boards like chairs and tables.
What are the office’s eco-friendly features. The office reduces the need to travel through virtual collaboration tools, utilizes 85% recycled materials in furnishings, some of the furniture and equipment are made from Eco- boards made from recycled UBC. We have also deployed smart energy systems. Space optimization ensures minimal resource waste, reflecting Tetra Pak’s global “Green Office” standards. Collectively, these steps underscore our commitment to planetary stewardship while enhancing operational efficiency.
What are your priorities post-relocation?
My focus is threefold: strengthening customer partnerships, scaling sustainability initiatives, and empowering our teams through continuous learning. With the new office as a catalyst, we aim for double-digit growth by 2026. Tetra Pak’s success in West Africa hinges on enabling local food producers to meet rising demand safely and sustainably—a vision we’re advancing through innovation and engagement.
Why isn’t Tetra Pak a household name despite its market presence?
As a B2B leader, our packages are often “invisible heroes” - consumers recognize brands like Chivita, or Peak, while Tetra Pak’s role in safely delivering their products remains behind the scenes. To elevate our visibility, we’re working together with our customers on co-branded sustainability messaging, educating consumers about recyclable cartons. Initiatives like “Green Steps,” launching later this year, will further highlight our environmental contributions.
Tetra Pak’s mission—”Protect what’s good” guides every decision, from workspace design to partnerships. In West Africa, we’re not just building a business; we’re fostering a sustainable ecosystem where industry growth and planetary health go hand in hand. We aim to make food safe and available everywhere.
PreciousUgwuzor
Growth projections for the real estate sector remain optimistic, with its valuation expected to reach $2.61 trillion in 2025 and $3.41 trillion by 2029. Industry experts, including Femi Akintunde, Group Managing Director of Alpha Mead Group (AMG), emphasize that leveraging the real estate sector is critical to achieving Nigeria’s N1 trillion economy ambition by 2026. As the sector expands, maximising its value requires tapping into the entire value chain, particularly facility management (FM), to transform its potential into tangible economic benefits. According to Akintunde, FM plays a vital role not only in meeting annual budgetary targets but also in strengthening the sector’s ability to generate employment in construction and related industries, contributing to economic growth.
However, unlocking FM’s full potential requires skilled professionals and competent human resources. A key challenge in Nigeria’s real estate sector is the widespread knowledge gap in FM fundamentals, even among practitioners. Critical deficiencies include a lack of multidisciplinary competence, limited specialised training programs, inadequate soft skills, insufficient technological integration, and difficulty keeping up with evolving
regulations.
Akintunde warns that neglecting professional facility management can compromise property sustainability and value. Developers and property owners who forgo FM expertise risk losing touch with industry trends, making it difficult to keep pace with the sector’s rapid growth. Attempting to self-manage facilities often leads to poor maintenance, dissatisfied tenants, increased legal disputes, unforeseen costs, health and safety hazards, structural deterioration, and diminished investment returns.
A well-trained facility manager ensures buildings operate efficiently while minimizing costs and maximizing property value. Despite its significance, FM has long been undervalued, often treated as a secondary function within real estate. However, this perception is shifting as industry leaders recognize the substantial impact of skilled professionals on operational efficiency and long-term viability.
A 2022 study by the International Facility Management Association (IFMA) found that companies with well-trained FM teams reduced operational costs by up to 20% and increased asset longevity by approximately 15% compared to those without structured training programs. The study also revealed that nearly 75% of facility managers believe their
workforce lacks the necessary technical skills to keep pace with advancements in building technology, automation, and sustainability regulations.
Globally, organisations are turning to specialised training institutions to bridge this skills gap. FM courses now cover a broad spectrum, from building operations fundamentals to strategic leadership. Professional certifications enhance credibility and career prospects by providing practical knowledge in areas such as energy management, risk mitigation, compliance, and technology integration.
To address these challenges, another industry expert, recently emphasized the need for educational institutions to update their curricula. This, he noted, is essential for equipping FM practitioners with the skills required to adapt to the industry’s rapid evolution.
Recognising this need, some Nigerian firms have stepped up efforts to provide professional training and certification to bridge the knowledge gap. More practitioners and stakeholders are seizing these opportunities as the evolving demands of FM create a valuable market for expertise.
A notable leader in FM education in Nigeria is the Alpha Mead Training Centre (AMTC), which has played a significant role
in equipping professionals with essential skills to navigate modern facility management complexities. Through structured training programs, industry-relevant curricula, and globally recognized certifications, AMTC has been instrumental in fostering a new generation of professionals adept at optimizing building operations, ensuring sustainability, and enhancing property value.
AMTC offers a range of programs, from introductory courses like the Basic Facilities Maintenance (BFM) and the Fundamentals of Facility Management (FFM), covering asset management, maintenance planning, and regulatory compliance, to more advanced certifications such as the Professional FacilitiesManagement (PFM) and Leading and Managing FM Businessprograms. These internationally recognised qualifications enhance career prospects and professional credibility.
The centre has trained staffers of leading organisations, including government agencies and multinationals with the reach spanning various sectors such as Banking, Manufacturing, Energy Service Provider, Oil & Gas, Federal Government Parastatal, and Real Estate. The centre graduates an average of 500 professionals yearly to bridge the knowledge gap in the Facility Management value chain. Between 2020 and 2025, such industry leaders across public and private sectors as Shell Plc,
PLC, Seplat Oil & Gas, TF Cameroun Court Limited, Nigeria Deposit Insurance Cooperation, Federal Inland Revenue Service, and Eco Bank,among others, have trained their staffers through the centre.
As a leading facility management company, Alpha Mead remains committed to developing a highly skilled workforce. In line with this commitment, the organisation provides a 50% subsidy for staff members pursuing the International Facility Management Association (IFMA) certification. According to the Group Managing Director, this initiative is a strategic intervention designed to attract, retain, and empower talent while reinforcing the company’s long-standing dedication to professional excellence in facility management.
The rise of smart buildings and sustainable infrastructure further underscores the need for highly skilled facility managers. With the increasing adoption of Internet of Things (IoT) technologies, automated energy management systems, and environmentally responsible building practices, FM professionals must stay ahead of industry advancements.
A 2023 report by the World Green Building Council found that buildings managed by trained FM personnel achieved significantly higher energy efficiency ratings than those without specialized management. This
highlights that FM training is not only an investment in human capital but also a driver of operational efficiency and environmental sustainability. Although AMTC remains a leading institution, other training institutes and centres now provide diploma programmes and international certifications. These include the Certified Facility Manager (CFM) and Facility Management Professional (FMP) designations offered by IFMA. As FM expertise continues to grow, the industry is witnessing a shift toward professionalism and structured capacity development.
Highlighting the importance of bridging the FM ski lls gap, AMG’s GMD stated, “Structured training and certification programs have become essential for organizations seeking to optimize assets, improve operational efficiency, and enhance property value. With a strong foundation in best practices, FM professionals can contribute meaningfully to the industry, ensuring that buildings are well-maintained and aligned with global sustainability and efficiency standards. The Alpha Mead Training Centre has set the benchmark as a leading institution dedicated to developing skilled FM practitioners ready to meet the industry’s evolving demands.”
The Presidential Enabling Business Environment Council (PEBEC) and the Nigerian Ports Authority (NPA), yesterday in Lagos launched the Ports and Customs Efficiency Commitee (PCEC), a move aimed at enhanced efficiency and ease of doing business at the nation’s sea ports.
Speaking at the inaugural meeting of the PCEC, the director general, PEBEC, Zahrah Mustapha, said improving efficiencies at the nation’s seaports would reduce cargo dwell time, vessel turnaround and turnover for Customers.
Mustapha said the committee was launched to change the narrative of missed opportunities in the maritime sector and as well unlock potential opportunities, and enhancing Nigeria’s economy.
According to her, “By improving efficiencies in our ports, we can drastically reduce the average cargo dwell time and turnover time for customers, eliminate duplication of documentation and manual processes, and ensure customers’ satisfaction.
“This is not just another one of our reforms, but this is about resilience, it’s about unlocking potential opportunities, and enhancing Nigeria’s economy. This is not just a committee made up of government force for a difference, this also has a lot of private sector stakeholders,” she stated.
She stated that Customs Committee was established to go beyond identifying the problems but to begin implementing the solutions that are long overdue.
“Nigeria loses a lot every single day due to some of our inefficiencies. These are not just numbers, these are missed opportunities. They represent jobs not created, goods not delivered, investments not realised, and economic growth that is unnecessarily delayed,” she added.
Speaking earlier, the Managing Director of NPA, Abubakar Dantsoho, said the authority is currently adressing four major pillars that are critical to repositioning the nation’s seaports and make it compete effectively with
regional counterparts.
He said investment in infrastructure, equipment, technology, and human capacity would improve competitiveness and operational efficiency of the nation’s seqports.
Dantsoho noted that port infrastructure, particularly in Apapa and Tin Can Island Ports, is aged and in dire need of rehabilitation.
“Tin Can was constructed about 48 years ago, Apapa almost 100 years ago—yet no major rehabilitation has taken place all these years,” he said.
He added that recent government approval for the reconstruction of both ports would significantly improve berth depth and cargo handling capacity.
On the technological front, the NPA MD disclosed that the agency is working closely with the International Maritime Organisation (IMO) to deploy the Port Community System (PCS), which he described as the backbone for the National Single Window.
InfraCredit, a ‘AAA’-rated specialised infrastructure credit guarantee institution, has announced its guarantee of Craneburg EKSG Motorway Company Plc’s N32.50 billion 20-Year Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2045.
Craneburg EKSG is a special purpose concession company established by the project promoter – Craneburg Construction Company Limited for the purpose of funding and constructing, as well as the operation and maintenance of the 68km ring road in Ado Ekiti, Ekiti State under a design, build, finance, operate, maintain and transfer (DBFOM) concession 20-year arrangement.
Developed under a PublicPrivate Partnership (PPP) model, the Project leverages InfraCredit’s
Guarantee, ensuring sustainable financing and long-term viability, and marks the first successful corporate infrastructure bond issuance for a Sub-national PPP Project, under InfraCredit’s Annuity PPP Guarantee Product. In a statement, the Chairman, Craneburg Construction Company, Mr. Femi Edun stated: “We are honoured by the trust placed in us by the Ekiti State Government to deliver this transformative project under the innovative InfraCredit Annuity PPP Product. The Product framework has been instrumental in mobilising long-term domestic capital that enables us to sustainably finance and execute this much-needed infrastructure project. As a company recognised for quality and timely delivery, we are committed to ensuring that this project sets a new
benchmark for infrastructure development at the sub-national level.”
Commenting on this milestone project, the Commissioner of Finance, Ekiti State, Akintunde Oyebode stated that: “This milestone marks a bold shift in how states can attract private capital to drive inclusive development. The Ado-Ekiti Ring Road is not just a standalone project; it is a central part of our infrastructure master plan, designed to connect critical assets such as our airport, knowledge zones, and tertiary institutions. Through innovative partnerships like this, Ekiti State is demonstrating what is possible when government, investors, and technical partners work together to unlock long-term value and accelerate economic growth.”
The Nigerian Deposit Insurance Corporation (NDIC), has revealed that the uninsured depositors of the defunct Heritage Bank will by the end of April, 2025, receive the first tranche of liquidation dividend of 9.2 kobo per naira.
The Managing Director, NDIC, Mr. Bello Hassan stated this yesterday at the NDIC 2025 Retreat for the House Committee on Insurance & Actuarial Matters aimed at reinforcing the NDIC’s role in maintaining financial stability amidst economic challenges.
Hassan intimated the Chairman of the committee that following the liquidation of Heritage Bank, said payment of the insured sum was prompt in line with best practice.
He acknowledged that the
Corporation has re-strategized on aggressive debt recovery, to ensure recovery of outstanding debts owed to the defunct bank
According to him, “Honourable Chairman and Honourable members of the Committee, as you are aware, we commenced the liquidation of the defunct Heritage Bank last year, following the revocation of its banking license by the Central Bank of Nigeria. The payment of the insured sum was prompt in line with best practice. Furthermore, we have made significant progress in the disposal of the physical assets of the defunct bank, and we are pleased to announce that, the first tranche of liquidation dividend of 9.2 kobo per naira, will be paid to uninsured depositors of the
defunct bank before the end of April 2025.”
He stressed that they recognised the need to protect and protect consumer and public confidence in the nation’s financial system inview of the recent crash of the CBEX pyramid scheme, which resulted in an estimated loss of N1.3 trillion.
He emphasised that their resolve is in line with the Federal Government’s determination towards achieving sustainable growth by strengthening the financial system and ensuring its stability, amid emerging and ongoing disruptions in the financial system.
On his side, the Chairman, House Committee on Insurance & Actuarial Matters, Ahmadu Jaha, said programmes like this provides a platform for synergy.
Kayode Tokede
The Nigerian Exchange Limited (NGX), yesterday made history with the listing of Legon Internet Service Plc as the first company in its Telecoms sector and the first company to be listed this year.
Legend’s 2,000,000 billion Ordinary Shares of 50 kobo each was listed
at N5.64 per share and the stock appreciated by a daily maximum gain to close at N6.20 per share thus shooting up NGX market capitalisation by N12. 4 billion.
Speaking at the Facts Behind the Listing Ceremony, Legend’s Chairman, Dr Ladi Bada who noted that Legend was the first ever indigenous telecoms company said:
“A listing on the Nigerian Exchange Limited (NGX), is more than a financial event. It is a signal-a declaration- that a business is ready to be held to the highest standards, performance, and public trust . And i’m proud to say that Legend Internet has met that moment with the same energy, integrity and purpose that has guided it from the
beginning. This is not just a win for our company. It is a win for Nigeria’s digital economy.”
Corroborating him , Legend’s Chief Executive Officer, Aisha Abdulaziz explained that when the company started, it was not just an internet company but a movement in the digital service.
“Every Nigerian deserves premium digital
services. Our journey has always been connecting. Our business has always been a trust . Listing on NGX is a commitment to transparency . We are scaling. We expanding in new technologies, deepening our infrastructure and reaching more underserved communities,” said Abdulaziz.
The Group Chairman, NGX Plc, Dr Umaru
Kwairanga, who welcomed Legend’s board and management, commended the company for the bold initiative of listing on the Exchange. He noted that listing was an enhanced status of adherence to corporate governance and opportunities to take advantage of an array of the Exchange’s different asset classes to raise capital.
Emmanuel Addeh in Abuja
Extreme heat caused by emissions from 111 fossil fuel companies cost an estimated $28 trillion between 1991 and 2020, researchers at Dartmouth College, United States, have reported.
The research showed that Saudi Aramco was liable in climate damage to the tune of $2.05 trillion; Gazprom: $2 trillion; Chevron: $1.98 trillion; ExxonMobil: $1.91 trillion and BP: $1.45 trillion during the period under consideration.
The five companies which constituted about a third of the total cost, were tied to more than $9 trillion in climate damage, according to the study.
According to the study, which was published Wednesday in “Nature,” it presented a peer-reviewed method for tying emissions to specific climate harms.
The researchers said their goal was to help hold companies liable for the cost of extreme weather, similar to holding the tobacco industry liable for lung cancer cases or pharmaceutical companies liable for the opioid crisis.
The research firm, Zero Carbon Analytics, counts 68 lawsuits filed globally about climate change damage, with more than half of them in the United States, CBS reported yesterday.
“We argue that the scientific case for climate liability is closed,” wrote the study’s authors, Christopher Callahan, who received his PhD from Dartmouth College, and Justin Mankin, a Dartmouth Department of Geography professor.
The researchers figured that every 1 per cent of greenhouse gas put into the atmosphere since 1990 has caused $502 billion in damage from heat alone, which doesn’t
include the costs incurred by other extreme weather such as hurricanes, droughts and floods. Emissions data is taken from the public Carbon Majors database, they said.
They used 1,000 different computer simulations to translate those emissions into changes for Earth’s global average surface temperature by comparing it to a world without that company’s emissions.
Using this approach, they determined that pollution from Chevron, for example, has raised the Earth’s temperature by .045 degrees Fahrenheit.
The researchers also calculated how much each company’s pollution contributed to the five hottest days of the year using 80 more computer simulations and then applying a formula that connects extreme heat intensity to changes
in economic output.
This system is modeled on the established techniques scientists have been using for more than a decade to attribute extreme weather events, such as the 2021 Pacific Northwest heat wave, to climate change.
Mankin said that in the past, there was an argument of, “Who’s to say that it’s my molecule of CO2 that’s contributed to these damages versus any other one?” He said the study “really laid clear how the veil of plausible deniability doesn’t exist anymore scientifically. We can actually trace harms back to major emitters.”
Aramco, Gazprom, Chevron, Exxon Mobil and BP did not respond to requests for comment, the CBS reported.
“All methods they use are quite robust,” said Imperial College London climate scientist Friederike Otto, who
heads World Weather Attribution, a collection of scientists who try rapid attribution studies to see if specific extreme weather events are worsened by climate change and, if so, by how much. She didn’t take part in the study.
“It would be good in my view if this approach would be taken up more by different groups. As with event attribution, the more groups do it, the better the science gets and the better we know what makes a difference and what does not,” Otto said.
“So far, no climate liability lawsuit against a major carbon emitter has been successful, but maybe showing how overwhelmingly strong the scientific evidence is can change that, she said.
The research is a good exercise and proof of concept, but there are so many other climate variables that the numbers that Callahan and
Chuks Okocha, Adedayo Akinwale in Abuja, Yinka Kolawole in Osogbo and Adibe Emenyonu in Benin City
Former President of the Senate, Dr. Abubakar Saraki, yesterday assured members of the opposition PDP that there was no cause for alarm in spite of the switching of parties by Dr Ifeanyi Okowa, the former running mate to the PDP Presidential Candidate in the 2023 presidential election, Atiku Abubakar, to the All Progressives Congress, the APC.
Okowa defected long with his protege, the Delta State Governor, Sheriff Oborevwori and the entire PDP political structure to the ruling APC.
Saraki stated that the rest of them in the PDP would reposition and strengthen it for the task ahead.
This was just as the National Chair-
man of the ruling All Progressives Congress (APC), Abdullahi Ganduje, yesterday declared that the 2027 elections were already a done deal for his party, boasting that more governors of the opposition party were still coming to join the ruling party. His declaration was not unconnected with the continued depletion of the opposition’s camps, especially with Wednesday’s dramatic defections to the ruling party. On his part, the acting national chairman of the PDP, Ambassador Umar Damagum, has expressed sadness over the defection of Oborevweri, Okowa and other chieftains of the party to the APC. This was as the Osun State chapter of the PDP has stated that the ruling party in the state was neither surprised nor disappointed by the defection of
Hon. Wole Oke, a member of the House of Representatives for Obokun/ Oriade Federal Constituency, to the APC, saying his decision, though unfortunate, was entirely in line with his history of erratic political behaviour and unstable loyalties. At the same time, the Edo State Chapter of the party, has said the PDP in the state was strong and intact, calling on all genuine members to be wary of the antics of those who proclaim to be members of the party, but in reality were out to destroy the PDP in the South-South region and across the country. Nevertheless, the coalition of political parties has said it was not distracted by the defection of Oborevwori, and Okowa defection to the ruling APC ahead of the 2027 elections.
However, the APC national chairman spoke yesterday in Abuja when he formally received some leaders of the New Nigeria Peoples Party (NNPP), Kano State chapter, led by the Senator representing Kano South, Senator Kawu Ismailia. Others were former Secretary to the State Government, Hon. Mohd Digol; a former Commissioner in Kano State Government, Hon. Abbas Abbas; a former Commissioner in Kano State, Hon. Sha’aban Ibrahim Lawal; a former governorship candidate, Hon. Badamasi Ayuba Danbatta; and a former member, House of Representatives, Hon. Idris Dankuwa. Also included were Hon. Kabiru Rurmum, Representing Rano/Kibiya in the House of Representatives; Hon. Abdullahi Rogo, Hon. Zubairu Massu, and member, Kano State House of
RULE: TINUBU DEFILED SACREDNESS AND SANCTITY OF THE CONSTITUTION, AMAECHI INSISTS
arguing that both the legislative and judicial branches of the government have been overshadowed by the executive arm, resulting in a lack of accountability in the country’s governance.
Speaking on the theme, ‘Fearless Leadership: A Panacea for Sustainable Development’, at Chapter-9 of the ‘2025 Akinjide Adeosun Foundation’s (AAF) Leadership Colloquium and Awards’, held yesterday in Lagos, Amaechi urged Nigerians to stand up to the president on leadership accountability.
“This is where governance is not by law, but by the whims and caprices of an individual leader, like the current pronouncement of an illegal and unconstitutional state of emergency in Rivers State. And I argue that the Nigerian National Assembly is very weak. What is even more alarming is that the breach in this situation is not even about the law.
“The president didn’t just break the law. He broke the Constitution. Now, this breach of the Constitution is a breach in the sacredness and sanctity of the Constitution.
“The question is, we the people of Nigeria, we agree, we swear to this. We didn’t send the president to go to the National Assembly and break the law. The president looked at the whole of Nigeria and removed an elected governor of a state and appointed a military man.
“And the country continues. What happens? So you see why you’re not looking for fearless leadership, instead, you’re looking for fearless followership.
“You’re looking for fearless followership, because where you have fearless followership, Nigerians will have reason to say, no, the president has damaged the constitution. We will not accept it.
“So the president has seen how weak you are. That’s why, after the demonstration or protest you had about good governance, he increased the price of fuel. And typically in Nigeria, we move on.
“The collaboration of the National Assembly, especially as a weak institution, makes the power of the president unchecked. Nobody checks his power. Because most of the time, he doesn’t have the power.
“So, he just assumes that power, and you leave him to go with it. It simply means that the president can lock you up by ordering a weak institution like the police to lock you up. And you will rot in hell. You will rot in hell. Nobody will say anything. You have no means of even pursuing justice.
“Good government breeds responsible government. What is a responsible government? Responsible government includes the rule of law and the separation of powers.
“So once you have a responsible government, you will have justice. The principle of accountability is essential. It’s an ingredient in responsible governance. Decision makers are held to account for decisions they’ve made.
“Accountability means you’re asking, ‘Where did you get this power from? How did you win this election? Who made you president? How did the INEC stop the election? Why did they stop the election?’ These are things you need to ask. There are things that people do here. They can’t do it in South Africa, they can’t do it in Kenya.
“You can’t because the people will ask questions. So the principle of accountability is an ingredient in a responsible government. Decision makers are held to account for decisions made. So, there cannot be a responsible government if there is no parliament. That’s what we mean by rule-making organisation.
“This is because the executive and the presidency have no rule-making abilities. They don’t have the power to make a law. The judiciary has no power to make law. That is the prerogative of the parliament. And in the case of Nigeria, it is the national assembly. In the same vein, a responsible government will require not just an independent but a valid and adjudicative judiciary.
“The absence of both institutions makes for arbitrariness. So, once you don’t have a legislature and judiciary, what do you have? Arbitrariness –whatever the president likes to do, whatever the government likes to do.
“If the minister doesn’t like you, he will lock you up and put you somewhere. That’s why I don’t go with fearless leadership. Where you have the structure, you have the
system flowing.
“So, I say the absence of both institutions makes for arbitrariness, and places too much power in the hands of the executive, who controls the power of the parliament and not of the judiciary.
“In the absence of these two organs, the executive becomes the legislature and the judiciary. And that’s what’s happening now in Nigeria. There is no other arm of government. There is just one arm of government. The president sneezes and everyone shakes.”
Dwelling further on the coastal road project, Amaechi said, “Due process is following the process of laying down requirements of the law in governance. That’s what due process is. Due process simply means follow the law, follow the process, and follow the requirements of the law.
“Due process works hand in glove with the rule of law. The rule of law
requires due process and standards. Standards and processes share the same purpose.
“The reason for this is to eliminate arbitrariness. The implication is that government’s decisions are meant to be the product of due process and indicated by law. So you ask if the stories being said about the coastal road are true.
“What process did it undergo? How did the government arrive at the cost? Who chose the contractor? Who is the contractor? This is what scholars refer to as arbitrariness. So, I sit down as Governor of River State, and I award you a contract of $15 billion without passing any process.
“But like I said, if what the rumour mills are saying is true, then all that process is arbitrariness. Arbitrariness is antithetical to the rule of law. Arbitrariness lacks due process and is a by-product of concentrating too much power in an individual.”
Assembly, Dr. Baffa Bichi. Ganduje, while addressing the new entrants into the party said more opposition governors were being expected.
“In APC, we believe in our president, Asiwaju Bola Ahmed Tinubu. We believe in his economic reforms. We believe in his Renewed Hope Agenda and part of the political renewed hope agenda is trying to canvass for more followership into the party.
“We started by democratically electing governors, especially in Edo State, who was in PDP. We elected, we succeeded in winning the election. He is now in APC.
“Now, there is another channel that has been opened through advocacy, through dialogue, through convincing some highly and even elected governors to come into the party. And you can see what has happened now.
“The governor of Delta State is now in APC, including his cabinet, including all the members of the state assembly and House of Representatives, and the timber and caliber of PDP, now in APC, even including the former vice presidential candidate coming into our party.
“So, you can see that we are expanding. I don’t want to reveal our secret, but what I’m telling you is that APC 2027 is a done deal. More governors are coming into APC. I assure you, and places where we have elections, APC Insha Allah will win those elections.”
Speaking, Kawu described their decision to join the ruling party as the coming together of like-minds in Kano State NNPP.
Asked whether his defection would make an impact for APC, he added:
“I will refer you to the 2023 general election. Go and check the results. I mean, the presidential, senatorial, and House of Representatives elections,
IMF URGES NIGERIA, OTHERS TO ENHANCE FISCAL BUFFERS
during the launch of IMF’s latest Global Policy Agenda Report, titled, “Anchoring Stability and Promoting Balanced Growth,” at the ongoing World Bank/IMF Spring Meetings in Washington.
She highlighted the continent’s mixed growth outlook and called for a renewed commitment to structural reforms.
Speaking further on fiscal reforms, she said, “Don’t hide behind excuses, and say we can’t go for more tax because, you can. There is a lot that can be done to broaden the tax base, and a lot that can be done to reduce tax evasion and tax avoidance, using technology, as some countries are doing, to chase the tax dollars, when there is the foundation for that, is a very good thing to do.”
Georgieva pointed out that while Africa remained home to some of the world’s fastest-growing economies, a significant number of low-income and fragile states were increasingly falling behind, especially in the wake of slowing global growth and rising geopolitical risks.
She explained, “We have seen over the last years, the African
continent having some of the fastest growing economies, but we also have seen low-income countries primarily and among the fragile conflict-affected countries falling further behind, and now this, this is a shock for the continent.”
Georgieva stated that while the direct effect of trade tariffs on most African countries was minimal, the indirect consequences, particularly, from a slowdown in global growth posed more serious challenges, especially for oil-exporting countries, like Nigeria.
Georgieva stated, “The direct impact of tariffs on most of Africa, not on all of Africa, but on most of Africa, is relatively small, but the indirect impact is quite significant.
“Slowing global growth means that, all other things being equal, they would see a downgrade. And actually, we have downgraded the growth prospects for the continent, for the oil producers, like Nigeria, falling oil prices create additional pressure on their budgets. On the other hand, for the oil importers, this is a breath of fresh air.
“In other words, different countries face different challenges.
If I were to come up with some basic recommendations that apply to Africa, I would say they apply to Nigeria, Egypt, Ghana, and they apply to Cote d’Ivoire.
“First, continue on the path of strengthening your buffer levels. There is still a lot that can be done on the fiscal side, to have strength and to have the buffers for a moment of shock, and don’t use any excuses around.”
The IMF managing director urged Nigeria and other governments in Africa to do more to expand their tax base and tackle leakages through digital tools. She warned against copycat monetary policies, urging central banks to respond based on country-specific inflation pressures rather than mimic regional peers.
She added, “On the monetary policy side, we are no more in a place where you can look at the book of the central bank governor of the neighbouring country and say, ‘Oh, they’re doing this, let’s try out the same,’ because you have to really assess domestically, what your inflationary pressures are and do the right thing for your country.”
where we contested the same day, the same polling unit with Kwankwaso.
“That will give you the answer to your question. You will see my result, his (Kwankwaso) result, and various members of the House of Representatives on that very day.
“Then the subsequent election, the senatorial and state assembly members, you will see the difference and you will understand what we are telling you. “
Saraki: No Cause for Alarm, We’ll Reposition PDP
But allaying the fears of party members, Saraki, said, “Following the development in the Delta State Chapter of our party, the Peoples Democratic Party (PDP), I have been inundated with phone calls from leaders and members of our party as well as various youths, who have been active in promoting democracy and good governance in our country.
“Many of the callers want to know what my reaction is to the defection of top PDP leaders in Delta State and its impact on our party.
“My view is that those who want to leave the PDP should leave now and let the rest of us who want to stay concentrate on rebuilding the party and refocusing it to play the role of a viable opposition that will provide a better alternative for the good people of Nigeria.
“I am convinced that it is important for all Nigerians to work for the sustenance of democracy. And to sustain democracy, there must be viable choices for people at every point. Also, there must be a viable opposition to keep people’s hope alive and create credible alternatives to keep the government on its toes.
“A one-party state as being disingenuously designed by some people
Georgieva also made a passionate call for Africa to rebrand its global image, stating that corruption and conflict in one country cast a long shadow over the entire region.
She added, “But above all, make it so that the image of the whole continent changes, because now everybody suffers from wrongdoing, from corruption or conflict in one country, it throws a shadow on the rest of the continent. And finally, like Asia, there is a need to deepen inter-regional trade and cooperation, remove the obstacles.” She also underscored the importance of boosting intra-African trade, comparing the continent’s potential to that of Asia and welcomed World Bank efforts to ease infrastructure barriers to trade. She added: “Sometimes they are infrastructure obstacles. The World Bank is working on reducing the infrastructure obstacles to broaden trade. Africa has so much to offer the world. They have the minerals, better resources, and a young population. I think that a more unified, more collaborative continent can go a long, long way to be an economic powerhouse.”
The United Nations Children’s Fund (UNICEF) has described vaccines as one of humanity’s greatest achievements, saying that essential vaccines have saved over 154million lives in
the last 50 years. Chief of Field Office (CFO) UNICEF, Enugu office, Mrs. Juliet Chiluwe, stated this in Enugu during a two-day multi zonal media dialogue to commemorate 2025 World Immunization Week (WIW).
Chiluwe who gave the theme of
this year’s exercise as ‘Immunization for All is Humanly Possible’, said extensive immunization exercise will hold in 12 targeted states. She mentioned the states to include; Abia, Akwa Ibom, Anambra, Bayelsa, Cross River, Benue, Ebonyi, Enugu, Rivers, Delta, Imo and Kogi.
Speaking to journalists and other health practitioners present, Chiluwe said: “I am happy to be here on this auspicious occasion of fostering dialogue that will help promote and provide quality immunization services to everyone, especially the children we serve.
Funmi Ogundare
As the Joint Admissions and Matriculation Board (JAMB) commences its 2025 Unified Tertiary Matriculation Examination (UTME) today, April 24, across 887 centres nationwide, the board yesterday disclosed that over two million candidates are expected to participate in the examination expected to end on April 30.
Dr. Fabian Benjamin, JAMB’s Head of Public Affairs and Protocol, explained that more than 10,000 officials have been deployed to oversee the exercise.
He made this known during a virtual media dialogue themed,’ 2025 UTME: Lessons from Mock Test and the Future of Test-driven Examinations in Nigeria’, organised by the Education Writers’ Association of Nigeria (EWAN) to sensitise candidates and stakeholders.
Dr. Benjamin clarified that candidates were assigned exam
centres based on their selected exam towns during registration.
Only when all centres in a chosen town are filled will a candidate be moved to the nearest available location.
He emphasised the importance of writing the exam in the assigned town, noting that exam numbers, question papers, and other details are tied to specific locations. Any deviation could disadvantage the candidate.
Furthermore, JAMB has made special provisions for candidates with disabilities, including free registration, transportation, meals, and accommodation where necessary, to ensure an inclusive examination process.
Benjamin recalled that the introduction of the Central Admissions Processing System (CAPS) in 2017 has significantly redefined university admissions in Nigeria, reducing human error, eliminating bias, and enhancing transparency.
He described the former manual process as “cumbersome and full of errors.”
Prior to CAPS, institutions were required to gather physically for admission conferences, where thousands of candidate applications were vetted manually - an approach that was not only inefficient but vulnerable to manipulation.
“CAPS automated the entire admission process,” Benjamin said. “It empowers institutions to manage their admissions online, while JAMB simply monitors from a distance, ensuring integrity and transparency.”
A key feature of CAPS, the head of public affairs and protocol noted, is its ability to notify candidates in real-time about their admission status. “If a candidate is not admitted, they receive a reason, and they have the right to raise a query,” he added, highlighting the system’s emphasis on accountability.
Addressing common misconcep-
A presidential hopeful, Hon. Gbenga Olawepo-Hashim has criticized the failure of democratic governments over the past 20 years to address Nigeria’s pressing economic and security challenges.
He however called it a period of “misrule” that has left the nation struggling to regain its former status.
In a statement issued yesterday in Ilorin, the Kwara State capital on Thursday, on the state of the nation, Olawepo-Hashim also reignited a national conversation by revealing that Nigeria once provided financial aid to Russia and Dubai during the military regime, raising concerns about the country’s diminished
global influence under two decades of democratic rule.
Olawepo-Hashim’s comments reflect the disillusionment many Nigerians feel as the country faces an array of challenges, including widespread insecurity, an underperforming economy, and an inefficient political system.
He argued that while the military regime exhibited global ambition, Nigeria’s democratic leadership has been marked by indecision and ineffective governance.
“Nigeria was once capable of taking bold steps on the international stage. Now, we are stuck with a leadership that has failed to deliver.
“The past 20 years have been wasted. Our country is facing
a leadership crisis, and its high time we reevaluate our political and economic strategies.” he added.
Olawepo-Hashim therefore assured Nigerians that the current challenges can be overcome with the right leadership.
He emphasized that the issues Nigeria faces today are not insurmountable, but will require bold reforms, strong political will, and a focus on long-term solutions.
Olawepo-Hashim also contrasted Nigeria’s once prominent role on the world stage to its current state of stagnation.
He said: “Under military rule, Nigeria was a significant global player. We funded Russia and Dubai, nations that are now economic giants.
tions, Benjamin explained why high-scoring candidates may still be denied admission. He emphasized that JAMB is a selection examination, not a pass/fail one.
“Someone with 320 applying for Medicine may be rejected because hundreds of others scored even higher, while another with 200 applying for a less competitive course like agriculture may gain admission. It’s all about the competition within that course and institution.”
He also debunked the myth of uniform university standards. “Just like in the U.S., where Harvard’s admission standards differ from other institutions, Nigerian universities are ranked differently.
“University of Ibadan is not on the same level of competitiveness as some other universities.”
Benjamin further stressed the importance of diversity and the federal character policy, which he said is practiced worldwide under different names.
“Top universities abroad intentionally seek candidates from various backgrounds to maintain cultural and intellectual diversity. That’s what we aim to replicate in Nigeria.”
He mentioned recent efforts to internationalise Nigerian institutions, such as JAMB’s National Tertiary Admissions Performance Merit Award (NATAP-M) for universities that admit the highest number of foreign students, and collaborations with organisations like the Rochas Foundation to bring international students into Nigerian schools.
“University education should not be regional or tribal,” Benjamin stated. “We want Nigerian universities to be global hubs of learning, fostering innovation, inclusion, and academic excellence.”
Mojeed Alabi, Chairman of the Education Writers’ Association of Nigeria (EWAN), emphasised the significance of the dialogue, noting that the UTME plays a vital role as the gateway to higher education for millions of Nigerian students.
“In 2025, as we approach World Immunization Week (WIW) 2025, it is essential to underscore the continued relevance of this global observance.
“This year’s theme reaffirms the feasibility and necessity of protecting everyone, from newborns to the elderly, against vaccine-preventable diseases, through inclusive and equitable immunization services.
“Today kick-starts the WIW commemoration across the world and UNICEF joins efforts with healthcare providers and governments to promote the values of immunization services as should, which entails getting to the last mile.
“UNICEF uses this opportunity to emphasize that vaccines are proof that less disease, more life is possible when we put our minds to it. It’s time to show the world that ‘Immunization for All is Humanly Possible’.
In a bid to address cross-border payments challenges between Nigeria and West African countries, Verve, Africa’s largest domestic payments card has expanded its footprint into the West African Economic and Monetary Union (UEMOA) region through a strategic partnership with GIM-UEMOA, the regional payment switch that connects banks and financial institutions across West Africa.
The collaboration will enable Verve card acceptance across UEMOA member countries, including Senegal, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo, among others.
At the launch of the strategic partnership agreement between Verve and GIM-UEMOA in Lagos, Nigeria yesterday, both parties reaffirmed their commitments to innovation and to delivering secure, seamless payment experiences tailored to the evolving needs of African consumers.
The partnership which has become a milestone builds on Verve’s strong foundation in Nigeria and its expanding presence across Africa, aligning with the brand’s broader Pan-African growth strategy.
Through alliances with platforms such as Google, Spotify, Netflix, Amazon Prime, and Facebook, Verve continues to empower cardholders with seamless access to digital content and services, bridging the gap between fintech, lifestyle, and innovation.
Speaking at the launch, the Managing Director of Verve International, Vincent Ogbunude, described the
“Vaccines remain one of humanity’s greatest achievements and over the last 50 years, essential vaccines have saved at least 154 million lives. That’s six lives a minute, every day, for five decades,” she said. The media dialogue which was co-sponsored by Broadcasting Corporation of Abia State (BCA), was attended by journalists from all the targeted states. The hybrid event also featured commitments from journalists to monitor the immunization exercise in their states, especially in rural areas.
partnership as a pivotal step in advancing inclusive, homegrown payment solutions across Africa.
“At Verve, we believe in Africa’s collective potential and the power of partnerships to drive inclusive growth. Our collaboration with GIM-UEMOA marks a major leap toward regional integration, enabling cross-border payments, unlocking new opportunities, and advancing the vision of a truly unified African economy.
“Financial inclusion cannot be achieved in isolation. It demands collective action across governments, businesses, and institutions. Through partnerships like this, we’re moving closer to an Africa where economic empowerment and prosperity are within reach for all,” Ogbunude said.
As part of its consumer-focused approach, Verve continues to reward its growing customer base through initiatives like the Verve GoodLife Promo, offering cardholders exciting incentives and lifestyle rewards for everyday transactions.
Deputy General Manager, GIMUEMOA, Serges Adingni, who highlighted the regional significance of the collaboration, said: “In Verve, we have found a partner whose innovative approach complements our regional expertise.
Verve’s impressive footprint across the African continent, coupled with their cutting-edge technological infrastructure, makes them an ideal collaborator in our journey. Together, we are unlocking unprecedented opportunities for financial institutions, businesses, and consumers across our UEMOA.”
L-R:
Minister of state for Agriculture and Food
Wale Igbintade
Justice Deinde Dipeolu of the Federal High Court in Lagos has ordered the interim forfeiture of 73 properties suspected to be instruments of computer-related fraud and money laundering.
The court also directed the Economic and Financial Crimes Commission (EFCC) to publish the interim forfeiture order in any national newspaper.
The publication is to notify any interested parties to appear before the court within 14 days and show cause why a final forfeiture order should not be granted in favour of the federal government.
The forfeited items include 1,596 computers/laptops, 4,091 phones, 350 foreign SIM cards, 1,122 MTN SIMs, 316 9mobile SIMs, 1,277 Airtel SIMs, 684 Glo SIMs, 194 routers, 205 sofa sets, and 501 double-step bunks. Others are 754 mattresses, 411 deep freezers, 40 refrigerators, 10 microwaves, 16 inverter batteries, 14 inverters, 43 CPUs/monitors, ring lights, two fuel tanks, a transformer, seven vehicles, 13 electric kettles, 21 UPS units, one toaster, one air fryer, 558 office tables, and two television sets.
Also listed were a network server, gas cylinders, a blender, weight scales, a spiral dough mixer, double-face burners, and a dining
table set.
The order was granted on Wednesday, April 23, 2025, in Suit No. FHC/L/MISC/382/2025, filed by the EFCC against Genting International Co.
The EFCC’s motion was supported by an affidavit deposed to by Yusuf Abdutazeez Kolade, accompanied by exhibits and a written address dated April 17, 2025.
The application was brought
Sylvester Idowu in Warri
Prof. Samuel Asagba, the Vice Chancellor, Delta State University (DELSU), Abraka, said yesterday the institution spends about N720 million annually on electricity bill.
Asagba, the eight substantive Vice Chancellor of DELSU, made the disclosure during the university’s 17th Convocation Press Conference held at the institution’s campus in Abraka.
He also disclosed the university spent about N50 million monthly on diesel to run the institution’s electricity generating plants.
Asagba however assured that his administration would address the huge cost by exploring other alternative sources of power supply such as solar energy and hydropower through private partnership investors.
His words: “We spend N60 million monthly on electricity, we also spend about N50 million monthly on diesel, so cumulatively, we spend about N110
under Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, and the inherent jurisdiction of the court.
In granting the application, the court held: “I have read the motion and attachments and find sufficient merit in the application; it is accordingly granted.”
An 18-paragraph affidavit in support, deposed to by EFCC investigator Kaina Garba, disclosed
that the Commission acted on intelligence indicating that a transnational cybercrime syndicate involving Chinese nationals and other foreign actors was operating under the name Genting International Co.
The syndicate was allegedly recruiting and training Nigerian youths in various forms of cyber fraud, including romance and investment scams.
Recruits were provided with
configured phones and computers to carry out scripted scams.
Based on the intelligence, the EFCC conducted a joint sting operation on December 10, 2024, at No. 7 Oyinjolayemi Street, Victoria Island, Lagos, believed to be the syndicate’s headquarters. Additional properties at No. 14 Modupe Alakija Crescent, Ikoyi; Plot 1220 Bishop Oluwole Street, Victoria Island; and Plot 54A A.J. Marinho Drive, Victoria Island, were also linked to the operation.
The EFCC arrested 761 suspects - both Nigerian and foreign nationals - while the alleged leaders and financiers remain at large. The Commission argued that the application was in the public interest and necessary to enable a thorough investigation and prevent continued damage to the country’s reputation.
Linus Aleke in Abuja
The hierarchy of the Nigerian Navy (NN) yesterday stated that troops of Operation Delta Sanity, in collaboration with naval units in Bayelsa, Delta, and Imo states, have intensified their coordinated clampdown on crude oil thieves in the Niger Delta region.
The leadership of the navy also said the troops apprehended no fewer than six suspected crude oil thieves during a three-day coordinated anti-crude oil operation.
A statement by the spokesperson of the Nigerian Navy, Commodore
Aiwuyor Adams-Aliu, revealed that two of the apprehended oil thieves were part of the fleeing murder suspects who killed three soldiers on 11 June 2024, while attacking the SEEPCO oil facility at Oguikpele Community in Ogbaru LGA of Anambra State.
The suspected felons, he said, were nabbed by personnel of the Naval Outpost ONITSHA during an operation within the period under review.
Adams-Aliu noted that in a series of simultaneous operations conducted from 20 to 22 April 2024, under the auspices of the Nigerian
Navy’s Operation Delta Sanity, naval units in Bayelsa, Delta, and Imo States clamped down on crude oil thieves, as detailed below:
“On Sunday, 20 April 2025, Nigerian Navy Ship SOROH apprehended four suspected pipeline vandals with tools used for vandalising pipelines around the Renaissance Africa Energy Company pipeline at River-Kolo Creek, Bayelsa State.
“On Monday, 21 April 2025, Forward Operating Base ESCRAVOS discovered and deactivated two illegal refinery sites with two refining ovens and 10 dugout pits laden with large amounts of stolen crude oil in Oteghele, Obodo Omadino Community, Warri South-West LGA, Delta State.
“Also on Monday, 21 April
2025, Nigerian Navy Ship SOROH intercepted and impounded two vehicles laden with several sacks of illegally refined products in Olodo Community, Bayelsa State.
On Tuesday, 22 April 2025, Naval Outpost ONITSHA apprehended two suspects with a locally made rifle and 10 machetes.”
Noting that the suspects were in the process of attacking the SEEPCO oil facility in Oguikpele Community, Ogbaru LGA, Anambra State, the naval spokesperson said that “investigation also revealed that these suspects were allegedly involved in the attack and killing of three soldiers on 11 June 2024.”
He said the Nigerian Navy Ship DELTA, on Tuesday, 22 April 2025, discovered and deactivated
two illegal refinery sites with nine dugout pits, several sacks and drums laden with large amounts of illegally refined AGO and stolen crude oil in Bernnet Island and Obodo Omadino Community, Warri South-West LGA, Delta State.
He added that in the three-day coordinated anti-crude oil theft operations, a total of six suspects were arrested, while four illegal refinery sites and nine dugout pits were deactivated, and two vehicles were seized.
The operations, he said, underscored the Nigerian Navy’s resolve to rid the maritime domain of crude oil thieves and other nefarious elements, as directed by the Chief of Naval Staff, Vice Admiral Emmanuel Ikechukwu Ogalla.
million monthly in electricity, this we have to address.
“Beyond electricity, a comprehensive and integrated water supply system for Site Three will be developed. There will be construction and maintenance of internal road network.
“We will vigorously ensure compliance with the master plan of the university.”
Asagba said the university was exploring other avenues to boost its internally generated revenue, noting the most demanding challenge in the overall scheme of university was the issue of funding.
According to him, without proper funding, it will be difficult to realise the vision of the university.
Asagba said that DELSU shall implement the financial policies of the University Council and ensure the university’s resources were used in ways that would most effectively advance the approved vision, mission and strategic plans of the university.
“To achieve the goals, DELSU Investment Limited in consultation with the Chairman of board will be overhauled. The university printing press will be upgraded to a publishing house.
“Scope for the Centre for Open and Distance Learning will be expanded to cover many departments of the university. Quotas for the admission of undergraduates will be raised for courses that are highly sought after.
“Investors will be engaged in a Public Private Partnership arrangement. National and multinationals will be wooed and partnered for the development of the university,” he said.
Asagba said that he would improve the prioritisation of university’s ICT infrastructure to enable it to compete globally. The vice chancellor also said that sustained measures would be put in place to improve the quality of graduates and postgraduate students through closed monitoring to guarantee their employability.
Daji Sani in Yola
Yiaga Africa has taken a significant step towards promoting youth participation in politics with the establishment of a Not Too Young to Run Hub in Modibbo Adama University, Yola, Adamawa State.
The hub aims to build the leadership capacity of young people within the university and increase their participation in politics.
The launch event held at the university’s medical lecture hall was attended by students, faculty members, and other stakeholders.
Anthonia Onda, Senior Programs Officer of Yiaga Africa, emphasized the importance of empowering young people to take an active role in politics.
Onda said the hub will provide a platform for young people to develop
their leadership skills, gain knowledge about the political process, and engage in meaningful discussions about issues affecting their communities.
She said by doing so, the hub hopes to increase the participation of young people in politics and leadership.
Onda explained the Not Too Young to Run initiative is a program aimed at promoting youth participation in politics and leadership.
“The program recognizes that young people have a critical role to play in shaping the future of their communities and countries”.
“By establishing the hub in Modibbo Adama University, Yiaga Africa is demonstrating its commitment to empowering young people in Adamawa State.
“The hub will serve as a resource
center for students, providing them with the knowledge, skills, and support they need to succeed in politics and leadership,” she said.
Olaniyan Sanusi, the Program Officer of Yiaga Africa at the event said that the launch of the hub is a significant milestone in the journey towards promoting youth participation in politics.
Sanusi further explained that it is expected that the hub will have a positive impact on the university community and beyond, inspiring more young people to take an active role in politics and leadership.
He said that the hub will also provide opportunities for young people to network with other leaders, gain practical experience in politics, and develop their skills in advocacy and campaign management.
L-R: Chairman, Special Committee on Rehabilitation of Public Schools (SCRPS), Mr. Hakeem Smith; Permanent Secretary, Ministry of Basic and Secondary Education, Mrs. Abisola Dokunmu-Adegbite; Commissioner for Basic & Secondary Education, Mr. Jamiu Alli-Balogun; Special Adviser to the Governor on Media & Publicity, Mr. Gbenga Akosile; and Permanent Secretary, Ministry of Information & Strategy, Mr. Olumide Sogunle, during the Ministry of Basic & Secondary Education ministerial press briefing at the Baguda Kalto Press Centre, Alausa, Ikeja, yesterday
Okays new textile devt board, $90bn agribusiness, livestock development plan Observes one minute silence for victims of Benue, Plateau attacks Shettima says they’re architects of sustainable future, not mere responders to crises After meeting with CDS, govs demand more security personnel, tech-driven solutions DHQ flags off military diplomacy campaign against insecurity
The National Economic Council (NEC) rose from its monthly meeting yesterday and again failed to discus State Police despite the worsening security situation in the country.
NEC had at its previous sittings assured members and the people of a final resolution of the matter whenever it reconvenes.
Kaduna State Governor, Senator Uba Sani, had categorically stated during the last NEC meeting in February, 2025, that all the 36 states were favourably disposed to establishment of State Police, assuring them that when the Council reconvenes, it would make a pronouncement and rest the matter.
Also, the Nigerian Governors after a meeting with the Chief of Defence Staff, General Christopher Musa, emphasised the need for increased recruitment into security agencies and the adoption of technology-driven solutions to tackle
killings at the various state level.
In a related development, the Defence Headquarters (DHQ),yesterday, formally flagged off a military diplomacy campaign in the Southeast, North-west, and North-east, particularly Adamawa, Katsina, and Anambra States respectfully, as response to the growing insecurity in parts of the country.
However, responding to a question on whether the issue of State Police was discussed at Thursday’s meeting held at the State House, Abuja with Vice President Kashim Shettima presiding, Bayelsa State Governor, Senator Douye Diri, said it was part of the agenda of the meeting but it was deferred as a result of some presentations on other pressing national issues which took better time of NEC.
He gave an assurance that the matter would be deliberated exhaustively in the next Council meeting in May, 2025, in order to put it to rest.
“State Police was part of our agenda today (Thursday), but unfortunately,
because of time demands you know, we have been there for a very long time now, the presentations, we were unable to get to that bit of it (State Police). So, I can assure you that in our next meeting, that issue will be exhaustively discussed,” he said.
On the presentation made by the Federal Ministry of Livestock Development, especially on the issue of ranching, Governor Douye Diri of Bayelsa State, said the presentation was a follow-up to previous deliberations.
According to him, “The Ministry is looking at that sector (Livestock Development), as I said, being modernised, but more importantly, emphasis is placed on cattle ranching and peace building.
“And we believe that the ministry’s presentation on cattle ranching is a modern solution to the issues of farmers and herders clashes.”
To reposition Nigeria’s economy and tackle insecurity at its roots, the National Economic Council (NEC) also approved the establishment of a Cotton,
Textile and Garment Development Board, alongside new strategies for agribusiness expansion and livestock transformation projected to generate up to $90 billion in economic value by 2035.
Other initiatives approved by council included the establishment of the Green Imperative Project (GIP) national office in Abuja and regional offices across the six geopolitical zones, as well as addressing the crises fuelled by the current system of animal husbandry in the country.
NEC also observed a minute silence for victims of the recent killings in Benue and Plateau States, while expressing its condolences for the people and governments of the affected states.
NEC, chaired by the vice-president with Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria (CBN), the Minister of Finance, and other co-opted government officials as members, approved the proposal for the establishment of the Cotton, Textile and Garment
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Felix Ogbe, has reiterated that the essence of Nigerian Content is not to Nigerianize the sector or exclude foreign participation in the country’s oil and gas industry.
He explained that the policy is about value creation in Nigeria by encouraging the involvement of multinationals and Original Equipment Manufacturers (OEMs) in a mutually beneficial manner.
Ogbe made the clarification yesterday at the inauguration of Monarch Alloys Limited’s 3LPE and Concrete Weight Coating Facility in Ikorodu, Lagos.
“Let me state again that Nigerian Content is not about ‘Nigerianization’ or exclusion of foreign participation in the Oil & Gas Industry. It is about value creation in Nigeria by encouraging the involvement of multinationals and Original Equipment Manufacturers (OEMs) in a mutually beneficial manner”, he stated.
He said the launch of the facility represented another step forward in the country’s ability to provide advanced pipeline infrastructure which is designed, built, and completed right here in Nigeria.
He congratulated the leadership of Monarch Alloys for the commendable achievement, adding that the facility was a testament to what is possible when private enterprise aligns with national vision, and when local capacity is not only developed, but demonstrated with confidence.
At the NCDMB, Ogbe said they were particularly proud of the development because it spoke directly to the mandate of the Board.
“It strengthens our value chain, deepens local participation, and affirms our collective commitment to building an oil and gas industry driven by Nigerians.
“This facility aligns with the intent of the Nigerian Content Equipment Certificate (NCEC) — a key instrument under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. The NCEC is issued to manufacturers and OEMs who commit to establishing production in
Nigeria for components, equipment and systems used in the oil and gas industry”, Ogbe stated.
Under Section 12 of the Act, he said such manufacturers and OEMs were given priority consideration during technical bid evaluations.
This, he explained, means that companies like Monarch Alloys were not just contributing to industrialization but were also positioned to benefit directly from local contracting opportunities.
For too long, he said critical elements such as pipeline coating were sourced from abroad, draining both opportunity and value from the local economy. But today, he noted that that equation was shifting.
Ogbe further pointed out that the new facility brings high-performance 3LPE and concrete weight coating capability into the country, delivering not only technical excellence but economic benefit that stays within the country’s borders.
“The economic implications are significant: job creation, skills development, stimulation of local manufacturing and logistics. Monarch Alloys is not only serv-
ing a sectoral need; it is actively contributing to national development.
“We call upon all stakeholders — particularly the operating companies, IOC’s, NOC’s — to deepen their collaboration with local players such as Monarch Alloys. Building national capacity is not the responsibility of one entity; it is a shared responsibility.
Development Board.
As the regulatory body for the cotton, textile and garment sector of Nigeria, the Board will have governors representing the six geo-political zones, with Ministers of Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment as members.
The board, when set up, would be domiciled in the presidency, private sector-driven, with representation of the relevant public sector stakeholders, and funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).
NEC also approved the establishment of the Green Imperative Project (GIP) national office in Abuja and regional offices across the six geopolitical zones, as well as the request for support for the formal launch of the National Agribusiness Policy Mechanism.
Addressing issues of empowerment and food security, Shettima implored members of the Council to be courageous in taking decisions, saying they must “resist the temptation of grand rhetoric and embrace the hard work of reform.”
According to him, “The nation is watching. Our citizens are not waiting for another speech. They are waiting for results. This Council must remain a meeting point of ideas that move the nation forward. Let us rise above partisan interests and regional divisions and focus on what truly matters—building a nation that delivers for all.”
The Vice-President reminded members that they were not at the council meeting as a mere routine but by “the resolve to confront the pressing realities that define the lives” of the Nigerian people”, even as he urged
them not to just respond to crises, but work as architects of a sustainable future for the nation.
“Governance, in truth, is not the theatre of promises. It is the solemn business of fulfilment. Today, as always, we are not here to admire the beauty of policy design but to ensure the substance of its execution.
“The task before us is monumental, but it is not unfamiliar. At our last meeting, we launched bold initiatives and reawakened our sense of duty to the nation. Today, we return with even greater clarity about what lies ahead. We must always bear in mind that we are not merely responders to crises. We are architects of a sustainable future.”
On the establishment of a Cotton, Textile and Garment Development Board, Shettima said it aligned with the economic revival agenda of President Bola Tinubu, recalling that the initiative “is a call to resuscitate a sector that once clothed the people and powered the nation’s economy.
“Nigeria is a nation where cotton can thrive in 34 states. Yet our production level remains a fraction of our potential. We currently produce only 13,000 metric tons, while we continue to import textiles worth hundreds of millions of dollars. This is not just an economic imbalance. It is an invitation to act,” he added.
Cotton, Textile and Garment Development Board, according to him, would be funded by the textile import levy and would have a presence in all geopolitical zones in the country.
“Our goal is not just regulation. It is a revival. This is our opportunity to re-industrialise, to empower communities, and to restore pride in local production,” he explained.
Olawale Ajimotokan in Abuja
Minister of the FCT, Nyesom Wike, has been restrained from presenting and nominating the Board of Trustees of IBB International Golf and Country Club, Abuja pending the determination of the originating suit.
The Federal High Court of Justice Emeka Nwite, granted the interim order yesterday in a motion exparte filed by Ubong Esop Akpan, Tijani
Abdulsalam Ogueyi and Olalere Babasola .
The interim order also restrained the President of Appeal Court, Justice Monica Dongban-Mensem, from functioning as the Chairman of Incorporated Trustees of IBB International Golf and Country Club, and supervising the IBB Golf Club Annual General Meeting scheduled for tomorrow, April 26, 2025, pending determination of the substantive motion.
The order further restrained all the eight individuals appointed by Wike on April 4, 2025 into the Board of Trustees from parading themselves as members of the trustees as well as supervising the AGM. Joined as defendants in the suit were the club Captain Ibrahim Babayo, the secretary Bola Aliyu-Faniyan and the Corporate Affairs Commission and Chief Joe Kyari-Gadzama (SAN).
With a GDP of $259b, a 25 million population, four seaports, and friendly government policies, Lagos is an investor’s delight, Governor Babajide Sanwo-Olu, has said.
“Lagos is a place where people come in without anything and become somebody. We are a business and commercial powerhouse,” he said on Wednesday.
It was another sales drive for the “State of Aquatic Splendour” at Harvard Business School where Mr. Sanwo-Olu spoke on “Building the Future: Lagos State Infrastructure-led Transformation.”
He was a guest in Professor Hakeem Belo-Osagie’s course, “Understanding Africa: Business, Entrepreneurship, Political Economy and the Complexities of a Continent.”
Belo-Osagie is a foremost Nigerian investment banker and businessman.
For the Lagos governor, it was an opportunity to share “Lagos’ bold vision and the tangible strides we are making in transportation, housing, innovation, and industrial growth.”
The students applauded as Sanwo-Olu spoke on the Blue Line, Africa’s first intra-city line, which has moved over two million passengers, an average of 42,000 commuters daily. The Red Line is also up and running, he said.
“We are building a new airport on the Lekki- Epe Expressway, and work is set to begin on the Green Line, which will connect that part of the State to Lagos Island,” he said.
Speaking on his remarkable strides in education, he said, “Two new universities have been set up, and a third, a University of Medical Science, is on the way to bridge the personnel gap in that sector,” he said.
Lagos, the governor said, was one of the foremost tech-driven states in Nigeria. The idea, he stressed, was to have a big pool of tech personnel so that if Microsoft or Amazon was looking for 10,000 to hire, Lagos would be the place to go.
“This is part of our 30-year Development Plan to make Lagos
a human-centric economy,” he said.
This is possible, according to him, because of Lagos’ 25 million population, about 60 per cent made
of youths who were tech savvy.
He spoke of opportunities in tourism, arts, and culture, saying, “There have been fashion shows,
drama performances, and movies. In fact, a movie made in Lagos has just been nominated to be presented at the Cannes Film Festival,” he said.
“We are trying to calendarise tourism and entertainment,” Sanwo-Olu told the excited audience of students from various parts of the world.
Dike Onwuamaeze
The Lagos Chamber of Commerce and Industry (LCCI) yesterday stated that Nigeria is among the countries whose public debts could hit 117 per cent of their gross domestic product (GDP) if nothing drastic is done.
This followed the warning by the International Monetary Fund’s (IMF) that countries should keep
I’m sure the figure could be highly mind-boggling.
The North East Development Commission (NEDC) has revealed it has commenced review of the North East Stabilization and Development Master Plan with a view to reflect the current realities. It added that the cost of implementation of the 529 schemes, programmes and projects for over 10 years which stood at $80 billion or N33 trillion as at June 2022 required review in line with current realities. Also, in line with its mandate aimed at actualising regional integration, the Commission said it already conceived the construction of North East regional airline in order to improve transportation in the region.
Its Group Managing Director, Mohammed Alkali, gave the hint on Thursday in Abuja during an interactive session with the Minister of Regional Development, Hon. Abubakar Momoh and Minister of State, Una Ahmadu.
His words: “At that time, with exchange rate, we’re looking at about N33 trillion, because that time the exchange rate was not up to 500, but today, I’m sure if we translate $80 billion, to Naira,
“Already we have started the process of reviewing the master plan, because it has entered the second year, so that we have to now align with the current situation.
“And for all the budgetary process, we have been drawing our inputs from these pillars and also the phases, which I’m sure when you go through the big book here, you’ll be able to get what we have done and what we want to do.
“But after our last meeting in December presentation, some matters arising have occurred, which I want to bring up for the attention of the honorable Ministers and other members present here.
“In our last presentation, we indicated that Mr. President given approval to deploy e-mobility in the North East, and in the last Council meeting, through the presentation of our two ministers, we have got approval to begin the process.”
Alkali added that President Bola Tinubu has given the Commission the approval for the immediate rehabilitation and reconstruction of key bridges before the rainy season starts.
“Also, we are looking at a situation whereby, how can we improve transportation? We are talking about e-vehicles. We’re talking about airlines, we’re also looking at the railway system for the North East, because a lot of work is going on,” he said.
The Managing Director stressed that the Commission has made a lot of mapping across all the health institutions across the North East.
He noted: “During our exercise, what we discovered, which is very damning, is that in the whole North East with population about 30 million people, as of today, there’s only one MRI machine servicing the whole of the North East, and that MRI machine is 15 years old, or there about which is just as good as gone.
“And you also remember that during the flood in Maiduguri, all the items, equipment in UMTH were destroyed, so they need to be replaced. So, we are now thinking to see that at least, to provide one MRI machine in each state and see what we can do in UMTH to see that they could go back to that. Because the service not only downs by then, but the other parts of the country.”
their economies in order and avoid rising public debts.
The LCCI also demanded drastic actions that would reduce the value and cost of Nigeria’s public borrowing, saying that the country’s depreciating exchange rates paint a picture of a precarious macroeconomic landscape.
The LCCI stated these in a public statement it captioned: “Beyond the Forecast: Resetting Nigeria’s Economic Compass”, issued by the Director General of the organisation, Dr. Chinyere Almona.
“In a scenario of projected global public debt reaching 117 per cent of GDP by 2027 (the highest level since World War II), Nigeria’s current debt level is close to attaining this projection if nothing drastic is done to reduce the value and cost of borrowing within the short term,” LCCI argued.
It added that in the face of fragile economic conditions in Nigeria, the country must prioritise a better-managed fiscal policy environment that drives public debt reduction, creating bigger buffers to accommodate the likely increase in defence spending pressures and trade-related shocks to the economy in the short term.
“With crude oil revenue under attack from falling prices, the government should get stricter with cutting the cost of governance within adjusted budget assumptions that reflect current realities,” it advised.
Presently, the crude oil is selling below the government’s projected $75 per barrel in the country’s 2025 budget.
Commenting on the latest IMF’s projections, Almona expressed deep concern, saying that the IMF’s concerns regarding Nigeria’s vulnerability to external shocks were not unfounded.
She said: “The country remains heavily dependent on crude oil for foreign exchange, making it susceptible to commodity price swings. The increased sovereign spread, volatile investor sentiment, and depreciating exchange rates paint a precarious macroeconomic landscape (and calls for) deeper structural reforms.
“Chamber is also alarmed by the IMF’s inflation projection of an average of 26.5 per cent in 2025 and a surge to 37.0 per cent by 2026. Although recent policy measures, such as the unification of exchange rates and cessation of deficit financing by the Central Bank
of Nigeria (CBN) are commendable, they remain insufficient in isolation.”
The LCCI, however, called on the federal government to sustain ongoing reforms in the oil and gas sector to increase crude oil production, domestic refining capacity, and reduce fuel importation, in order to enable the country to record an improved oil revenue to support its budget aspirations and projections.
“In terms of increased tax revenue, we urge the federal government to start the implementation of the recommended tax reforms, driven by a better tax administration system,” it said.
The LCCI also advised the government to focus interventions on addressing the inflationary pressures that seem not to have sufficiently abated even with the rebased computations, by investing more in infrastructure that drives the productive real sector of the economy.
The chamber also harped on the need to review and reprioritise the 2025 budget assumptions to reflect a lower oil revenue expectation. This, it said, should also call for necessary and critical adjustments to non-essential recurrent expenditures and non-productive subsidies.
Chinedu Eze
Air Peace has announced the resumption of all flight operations following the suspension of the industrial action by the Nigerian Meteorological Agency (NIMET) and other labour unions in the aviation sector.
The airline apologised and thanked passengers for their patience, understanding, and unwavering support throughout the period of the strike.
“We commend the active and de-
cisive intervention of the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, whose leadership and commitment were pivotal in resolving the impasse and restoring normalcy within the aviation industry.
“Keyamo’s swift engagement with all stakeholders, his transparent approach to dialogue, and his unwavering dedication to the stability and progress of the aviation sector reflect a deep understanding of the critical role aviation plays in national
development.
“ His efforts not only facilitated the timely resolution of the strike but also underscored his broader vision for a safer, more efficient, and investor-friendly Nigerian aviation landscape,” the airline said in a statement signed by its Head of Corporate Communications, Dr. Ejike Ndiulo.
Air Peace urged passengers with specific enquiries to contact the airline, assuring them of reliable and efficient service.
L-R: Olojodu of Ido-Ekiti and Chairman, Ekiti State Council of Traditional Rulers, Oba Ayorinde Faboro; Chief of Staff to the Ekiti State Governor, Mr. Oyeniyi
Oba Dr. Adeyeye Ogunwusi; Chairman, Cavista Holdings, Mr. Niyi John Olajide; and MD/CEO, Agbeyewa Farms, Mr. OSKA Seyi Aiyeleso, during the
sponsored by Agbeyewa Farms and held at the Ikogosi Warm Springs and Resort Conference Centre, Ekiti State, yesterday
will not augur well for a multi-ethnic, multi-lingual, multi-cultural, multireligious, and highly diversified society like ours. It is even more dangerous when we eliminate alternatives and make people hopeless.
“Therefore, it is in the interest of Nigeria and the survival of our democracy for the opposition to be vibrant and strong enough with the capacity to replace the ruling party at any point. Thus, my charge to our party members is that the PDP is merely experiencing a rebirth.
“Those who want to leave the party should go and let those of us remaining have a clear view of who we are talking to and where their political loyalty lies. All we need is for those who want to stay back in PDP to show commitment and we can all work to rebuild the party.
“This development has vindicated the stance of people like me who have decided to remain silent and watch events unfold. I have seen that there was no sincerity with supposed leaders of the opposition. One was not sure of the next person one was talking to.
“My appeal to PDP members nationwide is that we should know that the sustenance of democracy is not a sprint. Rather, it is a marathon. It is not a knock-out football match series. It is a league. 24 hours is a long time in politics and nobody can predict how the dynamics will evolve in the coming weeks and months.
“That is why PDP members across the country should not be discouraged, disillusioned, disappointed, or demoralised by the development in Delta State. We should stay strong and focus on strengthening the party. It is not necessary at this point to lament why they left,” he said.
According to Saraki, “Our party members should also refrain from blaming our woes on the ruling party. That would be a lazy approach. They are playing politics to win elections. It is our responsibility as party members to ignore their antics and seize the moment and momentum to make our party stronger and better.
“Yes, it is unbecoming and shocking for the running mate to the standard bearer of a leading party to abandon ship to join the ruling party. This is unprecedented and nobody should try to justify such an act with the talk of being put under pressure. It is simply a sign of how low we have sunk as a polity. The country is experiencing a collapse of leadership values.
“These developments in the polity are the reason why I have always canvassed the idea that we should emphasise building and strengthening our institutions and not individuals. With the defection of the governor of Delta State, even if the party has only ten governors in its fold, the PDP is still in a good position to win the next round of elections.
“Our numerous party members should know that the PDP is better with fewer members who are loyal, sincere, determined, dedicated, and committed to its ideas, ideals, and progress than to have so many who will identify with us in the afternoon and be romancing the ruling party in the night.
“We still have about two years before the next election. That is a long time in politics. We have enough time to brace up to the challenge. There is nothing that prevents us from getting some governors from the other parties to join our ranks.
“My appeal to our young party members is that this defection is just a mere challenge to us to further mobilise and put our house in order. Also, our women’s wing should seize the opportunity to help in the rebuilding mission. The PDP will come out stronger from this development.
“I am very sure the various leadership organs of our party will soon make public their reaction to this development and convey the necessary meetings to strategise on how to strongly and strategically respond to it. Therefore there is no cause for alarm.
“Our party members should not lose focus, hope, or the determination to win. We should see the current development as a challenge to rebuild and refocus the party. Tomorrow is very bright.”
The acting national chairman of PDP, Umar Damagum, has expressed sadness over the defection of Governor Sheriff Oborevweri, former governor of the state, Ifeanyi Okowa and other chieftains of the party to the APC.
Addressing reporters during the presentation of nomination certificate to the party’s governorship candidate, Jude Ezenwafor, Damagum, said, ‘’It’s very sad and unfortunate because to me, if there’s any state that should think that way, not Delta, because the party is very magnanimous.
‘’I thank God that in their message, they didn’t say that the party did anything wrong to them other than good.
‘’It’s a decision taken by them, but the pains will be in us not because of anything, but because we have given Delta State all our support, from the emergence of the governor to his predecessor, who also doubled as our vice presidential candidate.
‘’I think we’ve done it all for them in Delta State. We least expected this action from them. All the same, this is a party that have seen more than that, but it’s still standing.
‘’I want to use this opportunity to say, we’ll take over our structures immediately by setting up a caretaker.
We are still taking stocks and we will do that immediately. I also want to enjoin our members, both in Delta and the country in general, I want to remind us what happened in 2023.
The PDP can still make it simple.
‘’Obi has no governor but he muzzled all those votes that he muzzled. This election in 2027, is not about how many governors you have or how many leaders. It’s about Tinubu and Nigerians will give you the result I believe that before 12 o’clock because you can coerce, persuade, and intimidate our members to come in to support you.
‘’The ordinary man is feeling the pinch and the decision is his. So, I want to use this opportunity to tell
Nigerians that it is their election. It is APC versus Nigerians.
‘’It’s not APC versus any governor or senator or anything but APC versus Nigerians. So I want to urge all of us to close ranks and rescue ourself from this hardship that is inflicted on us by design, not any coincidence. Policies are meant for people, no one else because you make policy and it’s not for the ordinary people’’.
‘’We will experience a lot of challenges but there is no challenge that is insurmountable. I thank God we are all people of faith.
‘’We know there is a limit to whatever one can do other than what God has designed. You may have your own tactics where you cannot outplay God. We leave our faith in the hands of God and we believe He will help us out of this great situation.
‘’If God wants to help you, he takes out all the thorns along the way. I know we have one united party in Anambra today,’’ the acting national chairman of the PDP said.
PDP: Wole Oke’s Defection a Predictable Move from a Fickle Character
The Osun State chapter of the PDP, has stated emphatically that the ruling party in the state was neither surprised nor disappointed by the defection of Hon. Wole Oke, saying his decision, though unfortunate, was entirely in line with his history of erratic political behaviour and unstable loyalties.
“It is public knowledge that for over two decades, Hon Oke enjoyed consistent goodwill of the PDP, securing multiple terms in the National Assembly under the party’s banner.
“Yet, rather than engage in transparent and competitive internal processes, he habitually resorted to wild goose chase, abusing privileges conferred on him by the party and the good people of Obokun/Oriade, always fighting the winds in his characteristic scheming to further his personal ambitions,” the party said.
In a statement in Osogbo by the Chairman of the party in the state, Hon. Sunday Bisi, he said, “Hon Oke has long conducted himself like a pampered political stakeholder, more interested in being spoon-fed than earning his place through rules of healthy competition.”
The statement further read: “His trademark has always been orchestrated discontents and divisive tactics, never genuine in party commitment.”
He posited that the PDP leadership has remained “well ahead of his shenanigans, fully aware of his pattern of self-serving pontifications. His latest move only affirms what has always been evident - that he sees politics as a personal enterprise rather than a wheel of service to the people.”
Other Stakeholders
Caution against Those Feigning Genuine Party Membership
The Edo State Chapter of the PDP, has said the party in the state was strong and intact, and therefore called on all genuine members to be wary
of the antics of a few, who proclaim to be members of the party, but in reality, were out to destroy the PDP in the South-South region and across the country.
Chairman of the Caretaker Committee of the party, Dr. Tony Aziegbemi, made the remarks during a stakeholders meeting in Benin City.
Azeigbemi said the party had remained focused on reclaiming its mandate after it was stolen from Dr. Asue Ighodalo by the ruling party and would not be distracted with the scheming by enemies from both outside and within.
One of the leaders of the party in Edo, Chief Tom Ikimi, who lauded the commitment of genuine party members said the only way forward for the country was the survival of PDP and urged all and sundry to rally round the main opposition party in the country.
The former Foreign Affairs Minister, noted that the APC was hijacked by some forces, who were not working for the interest of Nigerians, but desperately working to destroy the PDP, saying “the only way for the country is the survival of the PDP.”
According to him, “My assessment is that the APC was hijacked by some forces and converted into a structure that was not of the best interest of our nation. We are all witnesses of their operations so far and indeed the disaster that we are going through. That party is now a collection of people possessing only personal interests.
“Take a look at the United States. When the Republicans do not serve the proper purpose, the Democrats take over, and in the UK, that is the same situation between Labour and the Conservatives.
“Despite the grave difficulties that our country faces today under the APC, it seems that all we are now presented with are just the desperate efforts to destroy the PDP so that the country may become a one party dictatorship.
“It is very clear to me that the only way forward for our country now is the survival of the PDP. History will certainly be kind to all of you gathered here. With the successful and appropriate adjustments at the highest leadership level, which I see now ongoing, I believe all will be well with the PDP and our country in a non-too distant future,” Ikimi said.
The coalition of political parties, a group proposing formidable opposition ahead 2027, has said it was not distracted by the defection of Governor Sheriff Oborevwori of Delta State, and the running mate to Atiku Abubakar of the PDP, Dr. Ifeanyi Okowa, to the APC ahead of the 2027 elections.
One of the leaders of the coalition and former National Vice Chairman, North West of APC, Dr. Salihu Lukman, said they were aware that some governors of the PDP were working with President Bola Tinubu.
He stressed that their defection
was unexpected, saying the signals had been there that some governors are going to decamp.
“You also know the situation in PDP. The party is clearly a shadow of its own self. Although we acknowledge there are people, there are leaders in PDP who are optimistic they can rescue the party.
“But if you remember, when the governors issued a statement against the coalition, what was our response? Our response was that many of them are working for Asiwaju.
“And shortly after that, you saw the statement from Akwa Ibom, and of course the Delta governor. It’s not only him, if you check the comments, there are many more that are being expected and on two sides — on the side of people who genuinely worry for the country, are expressing fear about a one-party state. And on the side of the government and APC, they are jubilating.
“All that one can say is that the beauty of democracy is about competition. The whole initiative to begin to negotiate the coalition is to ensure that in 2027, Nigerians are presented with options,” he said, boasting that the coalition being out together to challenge Tinubu in 2027 has gone far.
“What has happened in terms of some governors and some leaders moving into APC is not going to distract us at all. Not long from now, the full details of the coalition will be unveiled to Nigerians. And the structure and the strategy in terms of how the election will be contested will be clarified.
“We are just hoping that leaders of PDP who genuinely are working to rescue the party are thinking in the direction that rescuing the party should mean rebuilding the party so that the culture of imposition is a thing of the past in PDP. If that happens, we will regard the new PDP that will be born as a partner in the project of the coalition to rescue the country.”
A former Presidential Adviser on Political Matters seconded to the office of the Vice-President, Hakeem Baba-Ahmed, it would be recalled, had yesterday, accused President Bola Tinubu of giving the impression of an isolated leader running an insular administration, and therefore urged him to step aside in 2027 for a new generation of leaders with better ideas and energy.
Baba-Ahmed, a former spokesperson for the Northern Elders Forum (NEF), who recently resigned his portfolio, warned the president that if he shifted attention to electoral ambitions, he risked losing both governance momentum and public goodwill.
In an open letter to the president, Baba-Ahmed, who urged Tinubu to shelve his re-election bid, said, “Step aside — not for your opponents, but for a new generation of Nigerians who can carry the nation forward with fresh energy and ideas.
“Our generation has done its time. It would be a masterstroke if you and your party yielded the field to new voices and new leadership. That way, you could catalyse a peaceful, historic transformation and inspire a new political culture rooted in merit,
of
unity, and progress.”
While noting that the president must reflect on how he wanted to be remembered, Baba-Ahmed said, “You hold what your opposition lacks: the power to reduce the harshness of life for the average Nigerian. Use it well. Watch 2027, yes — but don’t become consumed by it.” He acknowledged that the administration inherited an ailing economy and a fatigued populace but faulted Tinubu’s “inability” to turn inauguration goodwill into “effective leadership”.
The ex-NEF spokesperson said the president’s Renewed Hope Agenda was “a set of campaign promises, not a coherent governance plan.”
He added that more than half of Tinubu’s cabinet “has no business managing an administration tasked with improving security, livelihoods, or public trust.”
Baba-Ahmed, who said he never met Tinubu during his 18-month stint in the presidency, warned against prioritising re-election over governance.
“Two years is a long time — you can still achieve much. But if you shift attention now to electoral ambitions, you risk losing both governance momentum and public goodwill.
“If you win again without reforming your style and strategy, you may spend four more years preserving failure. If you lose, your legacy could be wiped out in an instant.”
He said Nigerians across the regions were dissatisfied with the Tinubu government, noting that, “The north is drifting from your leadership under the weight of economic hardship, insecurity, and alienation.
“The east remains politically disengaged, while the south-south is fragmented. The south-west has been lukewarm, and its privileged position may become a burden. The north-east is deeply wounded and can no longer be taken for granted.” He said the administration should focus on addressing the country’s most pressing problems, describing Tinubu’s leadership as “disconnected and exclusive.”
His words: “Your closed-door style of leadership, your apparent indifference to complaints of ethnic bias in appointments, and the perception that you frequently run the country from abroad while attending to personal matters have created the image of an isolated leader heading an insular administration.
“Your inner and secondary circles do not reflect the discipline or inspiration necessary to transform Nigeria,” he said, adding that the government lacked a clear communication strategy. According to him, “You needed a strong engagement strategy — one capable of building national consensus or at least neutralising hostility. Instead, you’ve appointed a crowd of spokespersons, who often confuse rather than clarify your policies.”
Baba-Ahmed had recently said the north would unveil its position on the 2027 presidency in the next six months.
“We know nobody will become president without the north,” he added.
Minister of Budget and Economic Planning, Senator Abubakar Bagudu (left), and Chairman, Nigeria Governors’ Forum and Governor of Kwara State, Mr. Abdulrahman Abdulrazak, during the National Economic Council meeting in Abuja...yesterday
Hammed Shittu in Ilorin
The Peoples Democratic Party (PDP) in Kwara State has expressed concern over the deterioration of insecurity situation in the state, especially in Baruten, Kaiama and Ekiti Local Government Areas of the state.
The party, however, said: “In just one week, reports of coordinated attacks by armed gunmen who ambushed and abducted seven passengers heading to Offa in Obbo-Aiyegunle road in Ekiti LGA and the follow-up attacks that led
Kayode Tokede
BUA Cement Plc yesterday released its first quarter (Q1)
2025 unaudited financial statements with a net revenue of N290.9 billion, showing about 81 per cent increase from N161.1 billion declared in the first quarter (Q1) of 2024.
The cement maker declared N99.7 billion profit before tax (PBT) in Q1 2025, an increase of 368.6per cent from N21.3 billion in Q1 2024, while profit after tax (PAT) increased closed Q1 2025 at N81.1 billion, a growth of 351 per cent from N18 billion declared in Q1 2024.
Speaking on the overall performance, the Managing Director/ CEO, BUA Cement, Engr Yusuf Binji, said: “I am extremely delighted about our first quarter performance which has seen us sustain our continued growth in earnings.”
“This is evidence of trust, consistent quality and product delivery, aided by our commitment to excellence. In addition, we achieved further cost improvements through enhanced production efficiency.
“Looking ahead to the next quarter, we expect a similar impressive performance, supported by the costreduction initiatives being implemented.”
Also speaking on the financial performance, the Chief Financial Officer, Chikezie Ajaero said: “The quarter was not just a strong one, but a recovery from our performance in the first quarter of 2024. Our margins are recovering to acceptable levels, supported by exchange rate stability despite a high-cost operating environment. We remain confident that the measures we have implemented will continue to yield positive outcomes for the Company.”
to the cold-blooded murder of at least six innocent residents of Kaiama and Baruten by terrorists have remained unfortunate incidents in the state.”
In a statement issued by the PDP yesterday and signed by the state Publicity Secretary, Olusegun Olusola Adewara, the party
expressed concerns that: “Kwara, State which was handed over to Governor Abdulrahman in 2019, as one of the most peaceful states in the country, is now slipping fast into a flashpoint of terrorism, banditry, and violent crimes under his watch.”
The statement read: “Our
party considers this deterioration in security as a direct result of the alleged governor’s failure to govern from Kwara State and provide proactive leadership, clear policy direction, and failure to make effective utilization of security votes to support the security agencies in the state.
“The governor’s recent condolence visit to Kaiama without visiting the actual scenes of these horrifying attacks or visiting the affected bereaved families, who are still mourning their lost loved ones, is the height of political rascality, insensitivity, and gross disrespect for the sanctity of human life.
Laleye DipoinMinna
Barely 48 hours after the Niger State Governor, Alhaji Mohammed Umaru Bago, wielded the big stick against area boys terrorizing Minna, the police said they have arrested 18 miscreants with two of them suspected killers of a Guarantee Trust Bank (GTB) official driver, Malam Mohammed Amore. MohammedAmore was allegedly
stabbed to death by 23-year-old Nura Abdullahi on Easter day when he and other members of a vigilante group attempted to arrest the suspect and two others while reportedly smoking cannabis at a river side in the Fadkpe area of the state capital.
One Rabiu Abdullahi, 25, had earlier been arrested in connection with the same crime while a third suspect called Haruna is still on the run. Wasiu Abiodun, Niger State
Kayode Tokede
Legend Internet Plc yesterday listed two billion ordinary shares at N5.64 per share by way of introduction on the Main Board of Nigerian Exchange Limited (NGX).
The listing by introduction of Legend Internet added N11.28
billion to the Exchange’s market capitalisation, which now stands at N66.67 trillion. The stock, initially listed at N5.64, gained N0.56 or 9.93per cent, closing at N6.20.
This development marks a significant milestone for Nigeria’s tech sector and represents a major leap forward for the country’s
Police Command Public Relations Officer (PPRO), in a statement last Wednesday said the two suspects are under investigations after which they would be charged to court.
Abiodun, a Superintendent of Police, said in a statement that to sustain “raids and sting operations against miscreants and hoodlums,” the police arrested 15 suspected miscreants and recovered from them dangerous weapons, including two
cutlasses, one sickle, one scissors, one Knife, six sticks and cannabis. “All suspects are under investigation and will be prosecuted accordingly immediately after the investigation,” he said, adding that the Commissioner of Police assured them of his commitment to sanitise and stamp out thuggery in Minna metropolis for economic advancement in line with the new agenda.
broadband ecosystem.
At the Facts Behind the Listing event senior executives of the company presented their growth strategy and vision to capital market stakeholders.
In his remarks, the Chairman of Legend Internet, Dr. Ladi Bada, noted: “Technology is the fastest-growing sector, and broadband sits at the core of digital transformation.
“Legend Internet is proud to be the first indigenous broadband company listed on the Exchange. Our decision to list is anchored in our belief that the capital market is a catalyst for growth, innovation, and national economic transformation.”
Dike Onwuamaeze
The Pernod Ricard Nigeria (PRN), has partnered with the Federal Road Safety Corps (FRSC) and the Nigeria Drug Law Enforcement Agency (NDLEA) to hold a three-day road safety awareness campaign with the theme “Safe Roads: Don’t Drink and Drive.”
Speaking during the awareness campaign, the Managing
Director of PRN, Mr. Michael Ehindero, said that his company sponsored the campaign because it considered road safety as a shared responsibility that called for shared commitment.
Ehindero said that the company believed that partnering with key stakeholders in road safety, including the media, would get its message on road safety across to motorists and help to reduce
road accidents.
He identified driving under the influence of alcohol, also known as drink-driving, as a major risk factor that causes of road accidents.
“It is against this background that we, Pernod Ricard Nigeria, a subsidiary of Pernod Ricard, a worldwide producer of wines and spirits, have decided to launch this initiative” that is aimed at helping drivers and other road
users to understand the negative effects of drink-driving, and why they should promote responsible and positive choices during this festive season.”
Ehindero opined that eliminating driving under the influence would reduce road crashes. “Every life lost is someone’s parent, child, or friend. The message was clear “If you Drink, Don’t Drive,” he said.
Olawale Ajimotokan in Abuja
The Abuja Metropolitan Management Council (AMMC) has directed the immediate sealing of Myra Events Centre located at Plot 135 Mustapha Bello Street, Guzape District of Abuja, for allegedly constituting serious
environmental nuisances in the city.
AMMC Coordinator, Chief Felix Obuah, gave the order yesterday. He said the seal off directive effected on the facility until further notice, was in the wake of obvious noise pollution and other public nuisances as well as non-compliance to extant
regulations guiding its operations in the nation’s capital city.
Obuah noted that the action was part of the council’s ongoing efforts to address noise pollution and other environmental violations in the nation’s capital. He similarly echoed the administration’s zero-tolerance policy for violations that threaten public health and community harmony.
He also urged the FCT residents to report environmental violations through AMMC official channels, emphasising the need for collective action to protect the environment for public good.
The Foreign Investment Network (FIN), a leading London-based investment organisation, has honoured two Nigerian state governors, Babajide Sanwo-Olu (Lagos) and Monday Okpebholo (Edo ), Oba of Benin, His Royal Majesty, Omo N’Oba N’Edo, Uku Akpolokpolo Oba Ewuare II and other top personalities during its
international award ceremony in Dubai, United Arab Emirates.
The epoch-making award ceremony, which took place during the 2025 Net Zero MEA Summit, had top CEOs, MDs, innovators, founders and other stakeholders from different countries in attendance.
At the event, Governor SanwoOlu was honoured with the
Distinguished FIN Outstanding Leadership Award while Governor Okpebholo received the Distinguished FIN Emerging Governor Of The Year Award in recognition of their remarkable achievements in Lagos and Edo States.
The MD/CEO of Bank of Industry (BoI), Dr Olasupo Olusi, was honoured with Distinguished FIN Transformational Leader in Development Finance Award while the Executive Director, Rural Electrification Agency (REA), Hon Doris Uboh, who graced the prestigious event, also received the Distinguished FIN Rural Electrification Champion of the Year Award for her outstanding contribution to public service.
With two English Premier League giants, Manchester United and Arsenal dropping out of the race to sign Victor Osimhen, Turkish champions, Galatasaray, have renewed their interests to sign the Nigerian forward on a permanent basis.
According to Soccernet.ng, Galatasaray who are impressed by Osimhen’s match-winning performances and his growing influence on and off the pitch, are keen to secure the 26-year-old’s future swiftly.
Osimhen, who has scored in highprofile games such as the away clash against Fenerbahçeand the Turkish Cup semifinal tie against Konyaspor, has become a fan favourite at Galatasaray.
Quoting Turkish publication, Hurriyet, it was reported that Galatasaray officials have already invited Osimhen to a formal meeting, set to take place in the coming days, to discuss the terms
of a potential long-term agreement.
Determined to retain Osimhen’s services, Galatasaray are preparing to offer a record salary package – worth €10 million annually – in addition to a significant transfer fee. The Nigerian international currently has a €75 million release clause in his Napolicontract, which runs until summer 2026.
Transfer expert, David Ornstein, yesterday dismissed speculations linking Osimhen with moves to Arsenaland Manchester United.
Speaking to NBC Sports, Ornstein revealed that Manchester United’s priority in the summer transfer window is to sign a number 10 and a striker.
Ornstein confirmed that Manchester United have set their sights on Ipswich Town striker Liam Delap as their primary forward option.
The 21-year-old has a £30 million release clause should Ipswich suffer relegation and is expected to decide his future ahead of the European U21
Championship.
While Arsenal are also in the market for attacking reinforcements, Ornstein revealed that Sporting Lisbon’s Viktor Gyokeres and RB Leipzig’s Benjamin Sesko are more realistic targets. He added that players like Alexander Isak and Victor Osimhen are not currently on Arsenal’s agenda.
That would be a big disappointment for Osimhen who has never hidden his desire to play in the English Premier League.
Olawale Ajimotokan in Abuja
Nigeria’s U17 girls, Flamingos, are firm and ready to pick the ticket for the country’s eighth appearance at the FIFA U17 Women’s World Cup, despite the predictably-cold atmosphere of the Stade Mustapha Tchaker in Blida (outside Algiers), tonight.
Friday’s encounter against their Algerian counterparts is the final leg of a final qualifying round fixture, with the Flamingos, bronze-medallists from the 2022 finals in India and quarter-finalists from the last edition in the Dominican Republic, holding on to a 4-0 first-leg advantage.
The Federation Algerienne de Football (FAF) has scheduled the match to kick off at 8pm, at a time that the winds will begin to blow in stronger from the Mediterranean Sea.
However, the Flamingos, who arrived in Algiers in the early hours of Wednesday aboard a Turkish Airline flight from Istanbul, are highly inspired by the imminence of another FIFA World Cup ticket as well as further financial windfall from the Nigeria Football Federation and billionaire business mogul Kunle Soname.
Soname gifted the young players and their officials the sum of N4million (one million naira for every goal) following their commanding win over the North Africans at the Remo Stars Stadium on Saturday, while the NFF gave out the sum of N2million (five hundred thousand
naira for every goal).
President of NFF, Alhaji Ibrahim Musa Gusau and Hon. Soname have both confirmed that the same financial incentives are in place for the second leg in Blida this night.
“Our objective is clear – to win the FIFA World Cup ticket. That is the big motivation. Yet, we have been further incentivized by the monetary rewards. My girls will go all out on Friday night,” Head Coach Bankole Olowookere said.
Olowookere, who led the Flamingos to their last two World Cup ventures, will most likely rely on first-leg twogoal heroine Queen Joseph, lone-goal scorer Zainab Raji and Kaosarat Olanrewaju to start at the fore, with Shakirat Moshood, Muinat Rotimi and Philomena Isaiah supplying the passes from the midfield. Goalkeeper and captain Christiana Uzoma and defenders Azeezat Oduntan, Hannah Ibrahim, Christiana Sunday and Jumai Adebayo are also likely to start.
The Confederation of African Football has selected Cameroonian official Marie Noelle Etong to be the referee, with her compatriots Marcelle Teikeu and Innocentia Ntangti as assistant referee 1 and fourth official respectively, while Chadian Ngarassoum Victorine will be assistant referee 2.
Oumou Souleymane Kane from Mauritania will be commissioner and Sabelo Maphosa-Sibindi from Zimbabwe will be in the role of referee assessor.
Paralympic bronze medalist, Eniola Bolaji, has been named the recipient of the 2024 Africa Women in Badminton Award (AWIBA), in recognition of her outstanding achievements and inspiring journey in para-badminton.
The prestigious award was presented during the Badminton Confederation Africa (BCA) Annual General Meeting held on Thursday, April 24, in China.
Bolaji, a multiple-time African champion, becomes the second Nigerian to receive the honour, following in the footsteps of badminton veteran Obiageli Solaja who received the award in 2019.
Receiving the award on her behalf, President of the Badminton Federation of Nigeria (BFN), Francis Orbih, described the recognition as timely and well-deserved. He commended Bolaji’s dedication and trailblazing accomplishments, noting her impact on the growth of para-badminton in Africa.
“I am extremely proud of Eniola Bolaji. This award reflects the BCA’s recognition of her remarkable progress,” Orbih said. “As the first African to win a medal in badminton or para-badminton at the Olympics or Paralympics, I believe she is only just beginning to make her mark on
the global stage.
“This award will not only motivate Eniola but also inspire a new generation of Nigerian and African para-badminton players. It shows that their efforts are being noticed and celebrated.”
Orbih also extended his appreciation to the new leadership of the National Sports Commission, led by Shehu Dikko, for the way they have continuously demonstrated that there is a breath of fresh air in sports in Nigeria.
Looking ahead, Orbih highlighted Nigeria’s readiness to host two international para-badminton championships in Abia State this September/October.
“We are looking forward to delivering world-class events. This is an exciting moment for Nigerian badminton, and we intend to set a new benchmark,” he added.
Previous AWIBA Winners:
Nigeria’s Weightlifters added three more gold medals in the evening session of the ongoing African Senior Weightlifting Championship in Moka, Mauritius to end Thursday proceedings with 10 gold, four silver and one bronze totalling a remarkable 15 medals from just five weightlifters.
Nigeria’s gold rush began with the Women’s 55kg through Onome Omolola Didih who lifted 92kg in the snatch and 111kg in the Clean & Jerk for a total lift of 203kg to claim all the three gold medals at stake at the event in the morning session leaving her opponents to scramble for silver and bronze medals.
It was the same story in the women’s 59kg category as multiple African Champion and Commonwealth Games Queen, Rafiatu Folashade Lawal scooped another three gold medals with her 95kg lift in the snatch; 118kg in the Clean & Jerk and total of 213kg lift.
It was Ruth Imoleayo Ayodele’s turn to shine in the women’s 64kg when she bagged another three gold medals in her class. She lifted 93kg in the Snatch and had 120kg in the clean & jerk for a total 213kg lift to increase Nigeria’s gold haul.
In the men’s 73kg, Umoafia Joseph Edidiong also sparked, winning a gold and two silver medals with his snatch lift of 147kg; 172kg in the Clean & Jerk and a total of 319kg.
Tuesday Emmanuel also was fabulous on Thursday in the Men’s 67kg claiming two silver medals and a bronze medal in his category.
Emmanuel lifted 130kg in the snatch and 146kg in the Clean & Jerk for a
combined lift of 276kg.
It has been an incredible championship for Nigeria with all the five Weightlifters winning three medals
each.
Nigeria will end her campaign in the championship in the Women’s 76kg in the evening session today
Ovayioza. Matthew and the contingent is hopeful she will deliver more medals for the country.
Nigeria’s Rivers Hoopers defeated Mali’s Stade Malien 79-59 and Egypt’s Al Ittihad beat Morocco’s FUS Rabat 9874 as the Kalahari Conference concluded in Rabat, Morocco on Sunday night with the two teams booking their places in the Top 8 Championship. Raphiael Putney led the Hoopers with 15 points, with Madut Akec adding 14 points and eight rebounds and Michael Afuwape recording 13 points and five steals.
The Hoopers ended the Kalahari Conference with four wins and two losses, behind only the conference leaders Al Ittihad (6-0), and advance to the 2025 Basketball Africa League (BAL) Playoffs and Finals which will take place at SunBet Arena in Pretoria, South Africa between June 6 and 14. Meanwhile, five Ittihad players scored in double digits, led by Abdelhady Metwaly with 19 points. Anas Mahmoud recorded 10 points and seven rebounds, and Ittihad remain undefeated in the BAL this season. Nisre Zouzoa got hot out of the gate for Rabat, finishing with 22 points, but it was not enough for the Moroccan team to bounce back down the stretch. With two wins and four losses, FUS Rabat finished third in the Kalahari Conference and will be looking closely at what happens in Cairo and Kigali when the conference play continues.
April 22, 2010 is a notable milestone in the annals of the Nigerian oil and gas sector. On that day, 15 years ago, former President Goodluck Ebele Jonathan signed the Nigerian Oil and Gas Industry Content Development (NOGICD) Bill into law. Based on the impact made in the implementation of the historic legislation, and the significant benefits that have continued to accrue to the nation, the local content policy must count as one of the most successful economic policies since the return to democracy in 1999. The policy has redefined the priorities of the oil and gas sector in a Nigeria-First direction, underscored the centrality of sustainability as a core policy consideration and catalyzed significant benefits to businesses and communities across the country.
It is an honour to serve at the helm of the Nigerian Content Development and Monitoring Board (NCDMB), the implementing agency for this vital policy at a time that the Tinubu administration is executing bold reforms in the sector. In sync with the spirit of the times, we will not roll out drums to celebrate this particular anniversary. But we enjoin oil industry players, partners and members of the public to take pride in the impressive progress we have made collectively, reflect on the gains of implementation and recalibrate plans for moving forward.
Prior to the NOGICD Act, the situation was quite abysmal. The level of Nigerian Content in the oil and gas sector was less than five percent because the focus was on revenue derivation from the oil and gas sector over in-country value creation. As a result, nearly all fabrication, engineering, and procurement for the oil and gas industry were executed abroad. Conservative estimates suggest that Nigeria’s national economy suffered capital flight of about $380 billion in the first 50 years of oil production and lost opportunities to create over two million jobs. The nation also missed out on opportunities to catalyze research and development, manufacturing and support services.
To change this highly unsatisfactory reality, NCDMB has since 2010 worked collaboratively with other entities and stakeholders to grow the local content level in the oil and gas sector from less than five percent to 57 percent as at February 2025. In the process, over 50,000 jobs have been created, 13,000 training man-hours delivered through capacity development programmes in addition to other countless projects and opportunities. One of such projects is the ongoing $5 billion Nigeria LNG Train 7 project, 50 per cent of which is being executed locally, employing over 8,300 Nigerians.
By ensuring the organic application of the local content policy across linkage sectors, NCDMB has encouraged Nigerian firms to acquire hi-tech assets and equipment and expand operations to other na-
tions. Nigerian operating companies were thus able to acquire and operate the fields and assets divested by some international operating companies because of the enormous growth of local content, especially in human and material capacities. Today, several Nigerians service companies have invested in sophisticated vessels and rigs – assets that used to be the exclusive preserve of foreign companies. Local firms now enjoy patronage and even exclusivity in land and swamp areas of the industry, retaining huge industry spend in the economy, employing Nigerians and building skills and domiciling most industry work that used to be exported.
Broadly, our priorities over the past 15 years have included the following: promoting indigenous ownership of equipment used in industry operations; promoting manufacturing of oil and gas components by local firms; giving first consideration to Nigerian indigenous companies; ensuring that Nigerian content targets are met for projects and operations. We have also prioritized training and employment opportunities for Nigerians and the deployment of the Nigerian Content Development Fund for targeted capacity building. Relatedly, we ensure that local capacity investors have work to amortize investments even as oil producing communities are involved organically in the activities of the sector.
The impact of the NOGICD Act reverberates beyond Nigeria. NCDMB currently mentors many nations on how to implement local content policies, maximize in-country value addition and create wealth for their citizenry. Despite these accomplishments, we continue to strive towards the 70 per cent target we set for ourselves for 2027 under the Nigerian
Content 10-Year Strategic Roadmap, while taking cognizance of the changing dynamics in the world energy industry.
Going forward, the three Presidential Directives (PDs) on Nigerian oil and gas operations issued by President Tinubu to the Nigerian oil and gas industry in March 2024 provide the perfect platform to reevaluate and retool our strategies. The Presidential Directives were conceived to incentivize investments in the sector and improve the turn-around time for concluding contracts – addressing two cancers that plagued the sector. Specifically, the Directives mandated us and the Nigerian National Petroleum Company Limited (NNPCL) to take deliberate steps to fast-track approvals of oil and gas projects and use local content guidelines to attract investments and create value from the operations of the industry.
We swiftly adopted the Presidential Directives in our operations. In December 2024 we unveiled our new oil and gas contracting guidelines, reducing our touchpoints or interventions on the industry contracting cycle from nine to five for open and selective tenders, and four touchpoints for single source contracts. We made these changes to fast-track approvals, eliminate middlemen from the industry operations and shorten the industry cycle time to six months. Using our new guidelines, we approved four new oil and gas projects, estimated to add 350 thousand barrels of crude oil per day and one billion standard cubic feet of gas.
With the Presidential Directives as our beacon, NCDMB has, since I assumed office as Executive Secretary in December 2023, sustained the momentum of implementation and injected fresh energy in driving the 10-Year Strategic Roadmap. Here are a few highlights. We conceptualized the Back to the Creek Initiative, which takes the benefits of local content operations to communities across the country. One of our goals with the initiative is to revamp primary and post primary schools in our hinterlands, and prepare the students to meet the ICT needs of this age.
Also, we prioritize supporting oil and gas firms to develop oil and gas projects, thereby growing Nigeria’s crude oil production and the nation’s revenue. In this regard, we will continue to be pragmatic in implementing and enforcing the provisions of the NOGICD Act. While we will ensure that international and indigenous operators patronize and utilize all existing capacities and domicile work in-country, we must encourage operating companies to develop new projects profitably and speedily. It is heartwarming that Nigerian Content has also grown remarkably on the production side. Indigenous producers now account for about 50 percent of Nigeria’s crude oil production.
We are doing a lot more. Under my watch, NCDMB is also leading the remodeling of the Community Contractors Fund Scheme to provide funding for community contractors in the oil and gas
industry. As part of this review, eligible community contractors can now access N100m to support their businesses in the oil and gas industry. The Community Contractors Fund Scheme is part of the Nigerian Content Intervention Fund (NCI Fund), which we operate in partnership with the Bank of Industry (BoI) and Nigerian Export-Import (NEXIM) Bank. The Fund supports local contractors, manufacturers and service providers with long tenor facility and single digit interest rate.
The Nigerian Oil and Gas Park Schemes NOGAPS) is also a transformative flagship project. We have almost completed the pilot parks at Odukpani, Cross River State and at Emeyal-1 in Ogbia Local Government Area of Bayelsa State. Preliminary plans are afoot to build similar parks at Akwa Ibom, Imo, Delta, Abia, Edo, Ondo. The parks will spur manufacturing of equipment components and spare parts that would be utilized in the industry. Each will create about 2000 jobs when it begins full operations.
Another area we have recorded appreciable progress is our investments in commercial ventures, notably in modular refineries, gas projects and similar initiatives. We invested in 16 ventures across the hydrocarbon value chain, to catalyze investments in key areas of the sector, add value to natural resources and create employment opportunities. Some of the investments are already generating returns such as the Waltersmith Modular Refinery and Nedogas Gas Gathering and Processing Facility.
The achievements we have recorded in the last two years are anchored on the visionary and result-oriented leadership of President Bola Tinubu. Also significant is the tremendous support and cooperation of the Minister of State Petroleum (Oil), Senator Heineken Lokpobiri and the Minister of State Petroleum (Gas), Honourable Ekperikpe Ekpo. We will continue to reinforce and strengthen all important relationships for the good of our industry and the Nigerian economy.
To sustain the momentum, NCDMB will, between May 21 to 22 2025, host the 5th edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) to showcase short to medium term plans and activities of operators and project promoters in the upstream, midstream, and downstream sectors of the Nigerian Oil and Gas industry. This will give Nigerian service companies ample opportunity to build relevant capacities that might be required to execute the projects in-country, thereby creating employment opportunities, and retaining spend in-country.
Local content represents the best opportunity for Nigeria to obtain tangible and durable benefits from its oil wealth in a rapidly changing world in which carbon may become a less important asset. We will continue to shoulder this responsibility with the seriousness it deserves.
*Engr. Felix Omatsola Ogbe is the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB).