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Preparing For Nigeria’s Biggest Election

By
Adepeju Aina
-
Lagos, Anambra, Imo Voters Were Intimidated - CDD

This is the moment we have all been waiting for. Nigeria‘s most anticipated election, the season Nigerians will perform their civic duties to vote in their preferred/qualified candidate.

With Nigeria’s most important election only three days away, it is critical that all stakeholders take the necessary steps to ensure a successful and peaceful election.

Here are some preparation tips for the upcoming election:

Polling Unit

Know your polling unit: It is critical to know your polling unit because this is where you will vote. Check your voter’s card or go to the Independent National Electoral Commission (INEC) website to find your polling unit.

INEC’s tweet about polling unit

Registration Status

Check your voter registration status. Make sure you’re registered to vote and your name is on the voter list. You can check the status of your voter registration by visiting the INEC website.

Candidates

It is critical to learn about the candidates running for office as well as their platforms. Investigate their track record, promises, and future plans if elected. This will allow you to make an informed decision when voting.

Before going to vote, learn your candidate’s political party and its logo.

Abenol a platform for nation building that connects tech-savvy and educated Nigerians to the grassroots; urged Nigerians to not only vote for a presidential candidate but be involved in all of the elections.

“There are many people seeking to represent you at various levels of government not just the presidency. Each position is of equal importance and the same attention to detail should be given,” Abenol said.

“It is how you exert the control you have over the government, push back bad leadership etc. if the state of Nigeria concerns you so much, you will not leave your card lying around on the day of the election, you will infact come out and vote.”

Electoral Rules

Understand the election rules, including the voting process, time, and location.

Knowing the rules will ensure that you understand what is expected of you and that you do not break any rules inadvertently.

Plan your waka well

Plan ahead of time for transportation to and from the polling place. Make sure you have enough time to get to the polling place and that you have enough resources, such as food, water, and money.

Inform your loved ones about your plans.

Security

Be aware of any security threats in your area and take the necessary precautions. Avoid high-risk areas and report any suspicious activity to the appropriate authorities.

Protect yourself, do not go towards any riot or sponsor it. If you have a security dog feel free to take it along but but it on a leash and do not let it attack anyone.

Do not wear any political outfit!

The federal government may have deployed security personnel to protect cities, but will they be present at all polling places? Protect yourself by using “The N-Alert App” to report any suspicious or violent behavior.

‘The N-Alert App’ is a mobile app that allows you to report any type of crime and receive a quick response because it is routed directly to the command center.

The app is very simple to use, so please encourage anyone you know who is voting to download it and it is available for download on both iOS and Android.

Secure your votes

Don’t just vote and go home. Go early to your polling unit, make sure the electoral materials have not been tampered with and after voting, make sure that your votes are not stolen. Make sure that the electoral officer uploads your vote.

It is easy for your polling unit to be attacked, for your votes to stolen or rendered void if there is no one to stop them. Stay back and make sure that the right thing is done.

“Go early and stay until the votes in your unit have been submitted. Don’t just vote and go home, stay to protect your vote. This will help keep the officials accountable and make election violence less likely,” Laju Iren tweeted.

To summarize, all stakeholders must work together to prepare for Nigeria’s election in three days. We can ensure a successful, peaceful, and transparent election that reflects the will of the people if we follow these guidelines. Let us all work together to make this election a success.

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Eating On A Budget: Save Money By Growing Your Food

By
Adepeju Aina
-
First Aquagrico Farms To Build Nigeria's Largest Farmer's Market

Eating on a budget seems like a hard task in Nigeria especially with the rate of inflation and trying to avoid eating rice everyday.

Eating out can be expensive either it is at a big or small restaurant. Buying groceries frequently takes a chunk of your money.

Sometimes we try to count our money to calculate how much we spent; especially when our wallets are slim and our bank accounts are not smiling.

How can we reduce our spending? What can we do to eat healthy while maintaining a budget?

Eating healthy on a budget is not impossible. One of the ways to achieve it is to have a garden and grow your food.

Growing your food might seem extreme or overly expensive. No need to fear, you can start small.

As small as spring onions or pepper then work your way up to other agricultural produce.

Eating on a budget; how to

Growing your own fruits and vegetables is a great way to save money and have fresh produce at your fingertips if you have the space.

Having a steady supply of fresh produce at home can help you save money at the grocery store.

What should you plant?

You can start with the things you usually use; like ginger, spring onions, cabbage or even tomatoes. Take a look at the tools you have and watch videos that will help you decide what to start with, how to plant and when to plant.

How to plant

Watch videos and read articles on how to plant and how to maintain your garden.

Where to plant?

Start on a small scale. Many fruits, vegetables, and herbs can be grown in pots on patios or balconies especially if you don’t have a yard.

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Snapchat, Twitter May Be Sanctioned Over Display Of Porn And Nudity

By
Damilare Famuyiwa
-
Snapchat, Twitter May Be Sanctioned Over Display Of Porn And Nudity

Snapchat, Twitter, and other social media sites may be sanctioned by the Federal Government over the display of porn and nudity on the Nigerian cyberspace. This is as the National Information Technology Development Agency (NITDA) released the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries (online platforms).

Part of the order included in the code is that -Snapchat, Twitter, TikTok, and other social media must ensure the removal, disabling, or blocking of access to any non-consensual content, which displays partial or full nudity, sexual acts, deep fake, or revenge porn within 24 hours.

The code mandated the social media platforms to “act expeditiously to remove, disable, or block access to non-consensual content that exposes a person’s private areas, full or partial nudity, sexual act, or revenge porn, where such content is targeted to harass, disrepute, or intimidate an individual. A Platform must acknowledge the receipt of the complaint and take down the content within 24 hours.”

Other things require of Snapchat, Twitter, and other social media platforms

  • The Code of Practice also directs these platforms to take down any unlawful content upon receiving a notice from a user, or an authorised government agency.
  • The platforms were also asked to exercise due diligence to ensure that no unlawful content is uploaded to their platform.
  • Aside from asking each online platform to have a country representative, who will interface with the Nigerian authorities, it also requires any platform with over 100,000 Nigerian users to have an office in Nigeria.
  • Other conditions include registering with the Corporate Affairs Commission as a legal entity, complying with tax obligations, abiding by regulatory and legal demands, and providing information about users on-demand, among others.

BizWatch Nigeria, however, understands that the Code of Practice recently published by the NITDA was designed to safeguard the fundamental human rights of Nigerians and non-Nigerians living in Nigeria, and to regulate interactions on the online platform.

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World Bank: Poor Nigerians To Hit 95.1m By End Of 2022

By
Damilare Famuyiwa
-
World Bank: Poor Nigerians To Hit 95.1m By End Of 2022

World Bank, in its ‘A Better Future for All Nigerians: 2022 Nigeria Poverty Assessment’ report, disclosed that the number of Nigerians that would plunge into poverty by the end of this year would hit 95.1 million.

While warning that many non-poor Nigerians are only one small shock away from falling into poverty, the Washington-based lender lamented that since President Muhammadu Buhari was first elected into the office of president of Nigeria in 2015, there has been no improvement in the poverty crisis in the country.

According to World Bank, poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years.

Quoting its economists -Jonathan Lain and Jakob Engel, World Bank said rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration.

“Nigeria’s aspiration to lift all of its people out of poverty by 2030 presents a serious challenge. Even before COVID-19, four in 10 Nigerians lived below the national poverty line – some 80 million people.

“The global pandemic, rising inflation, and ongoing uncertainty related to the war in Ukraine – combined with relentless population growth – have made Nigeria’s poverty-reduction goals more challenging than ever,” the economists were quoted.

Can Buhari truly lift Nigerians out of poverty?

With the factors identified by the World Bank economists, Buhari’s aspiration to lift Nigerians out of poverty has no doubt been met with a major blow.

It would be recalled that in June last year, the President inaugurated the National Steering Committee of the National Poverty Reduction with Growth Strategy chaired by Vice President Yemi Osinbajo.

This, he said, re-echoes his commitment to lifting 100 million Nigerians out of poverty in 10 years, with a well-researched framework for implementation and funding.

The president was quoted in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, as saying, “If India can lift 271 million people out of poverty between 2006 and 2016, Nigeria can surely lift 100 million out of poverty in 10 years.

“Fortunately, we have already started but we need to unlock the challenges of slow implementation, inappropriate targeting, and absence of adequate resources.”

World Bank To Review Poverty Index Over Inflation 

Dollar To Naira: This Is Why Banks Are Restricting Access To Forex

By
Damilare Famuyiwa
-
Dollar To Naira Exchange Rate Today (Thur. July. 13, 2023)

For travellers, and for others seeking dollar to naira in exchange for one thing or the other, they are likely to experience stricter access to it considering the country’s external reserves that hit a seven-month low after falling to $38.57 billion as of May 25, 2022.

According to figures obtained from the Central Bank of Nigeria (CBN) on movement in external reserves, the reserves which had been fluctuating for weeks now, experienced its lowest of $39.01 billion and $38.39 billion on October 10 and 8, 2021 respectively.

However, as a result of the dollar to naira scarcity, banks are extending the waiting period to access forex for foreign trips, thereby denying travellers with urgent trips access to apply for Personal Travel Allowance or the Business Travel Allowance requests.

The banks have also been reducing the amount a customer can spend on the cards in dollar terms.

Explaining Ecobank Nigeria’s current stand on retail forex transactions for international school fees, accommodation and upkeep payments as well as PTA/BTA requests, the financial institution’s Head, Consumer Banking, Korede Demola-Adeniyi said, “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep.

According to him, part of the process involved a review of all documents to ensure compliance with regulatory requirements.

“In order to ensure smooth service and allow disbursement of PTA/BTA within the timeline, we request that applications are submitted with the required documentation,’ he added.

Like Ecobank, Access Bank stated: “All requests are reviewed to ensure that they meet regulatory requirements. In addition, due to limited forex availability provided by the Central Bank of Nigeria, we require a 30-day period to fulfill requests for school fees, upkeep, and rent payment.

“However, for PTA/BTA, we request that you submit your application 14 days before your proposed travel date to allow disbursement within the timeline.”

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Africa Finance Corporation Launches US$2bn Facility To Support Economic Recovery & Resilience In Africa

By
Boluwatife Oshadiya
-

In response to economic challenges created by the global pandemic and the Russia-Ukraine conflict, Africa Finance Corporation (AFC) is launching a US$2billion facility to support recovery and resilience in Africa.

AFC has committed to funding up to 50% of the new African Economic Resilience Facility and mobilising the remainder through the Corporation’s network of international partners and investors. The facility will be announced at the AFC Live Infrastructure Solutions Summit today.

The facility will be disbursed through loans from AFC to selected commercial banks, regional development banks and central banks in various African countries, providing them with much needed hard currency liquidity to finance trade and other economic activities in their jurisdictions.

These institutions will be able to leverage AFC’s proven access to global funding to receive financing at competitive rates.

Speaking on the rationale behind the launch, Head of Treasury and Financial Institutions, Banji Fehintola, said: “The COVID-19 pandemic set back Africa’s economic growth trajectory and widened the trade financing gap, while the Russia-Ukraine conflict has added a further set of challenges negatively impacting growth prospects across the continent.

“We are determined to play a leading role in helping the continent’s recovery and resilience, not only though the work we do in bridging Africa’s infrastructure gap, but also through targeted interventions such as this US$2billion economic resilience facility.”

Applications for the African Economic Resilience Facility will open this month through AFC’s website.

Through this funding intervention, AFC will accelerate its developmental impact in Africa, helping to drive the continent to a new phase of growth that is focused on maximum resource value capture and domestic job creation.

Over the last 15 years, AFC has built experience mobilising global capital for critical infrastructure projects in Africa.

The Corporation’s recent bond issues include a US$750million 7-year Eurobond issued in 2021 at AFC’s lowest yield to date. The Corporation also established an independent asset management arm, AFC Capital Partners, with plans to raise US$2 billion to fund climate adaptation infrastructure projects in Africa.

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#IWD2022: Is Nigeria Ready For A Female President?

By
Adepeju Aina
-
Break The Bias: Is Nigeria Ready For A Female President?

To commemorate International Women’s Day 2022, themed “Break The Bias” BizWatch Nigeria presents Twitter Spaces conversation on Wednesday, March 9th 2022 tagged “Break The Bias: Is Nigeria Ready For A Female President?”

International Women’s Day is marked every year to celebrate women all around the world, eradicate gender bias and fight for gender equality. Clearly, we have a long way to go to achieve gender equality.

Follow this link https://twitter.com/i/spaces/1mrGmaNrdvgGy to join the conversation on Twitter by 7 pm (WAT).

BizWatch Nigeria to mark this year’s International Women’s Day will have a Twitter Spaces Conversation by 7 pm (WAT) to provide solutions to gender bias and to discuss the following;

  • Gender bias
  • Issues in society
  • Empowering young girls and women
  • Gender equality and equity
  • Women in business and leadership
  • The role of the female gender in restoring Nigeria
  • Is Nigeria ready for a female president?
  • The rejected gender bills
  • Under representation of women in politics and government

The aim of this event is to celebrate women, eliminate gender bias and educate people on gender equality.

The speakers for the event are: Hansatu Adegbite, the Executive Director of WiMBIZ, Seyo Body-Lawson; a renowned entrepreneur and photographer, Gbemi Aleke; a Deputy Director of Account Management and Strategy at TBWA Lagos and Betty Abah; a seasoned journalist, women and children’s right activist and the Director of CEE-HOPE. The Twitter Spaces conversation will be hosted by Adepeju Aina, a content creator at BizWatch Nigeria.

Join our conversation on Twitter as we provide solutions to gender equality and as we break the bias!

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6 Multinational Oil Companies To Pay ₦249.3b In January – NNPC

By
Adepeju Aina
-
EU Seeks Stronger Partnership With NNPC

The Nigerian National Petroleum Company (NNPC) said that a total of ₦249.3 billion for October 2021 domestic crude oil sales by six multinational oil companies operating in the upstream sector will be paid in January 2022.

The NNPC made this known in its latest report on Nigeria’s crude oil export and domestic crude oil sales in the month of October 2021.

This came as the oil firm revealed that it would also deduct ₦270.83 billion from what would be shared by the three tiers of government during the Federal Accounts Allocation Committee meeting in January next year.

It said the ₦270.83 billion was its November 2021 value shortfall. The NNPC posts value shortfalls as a result of what it spends on the monthly subsidy of Premium Motor Spirit, popularly called petrol.

On oil sales, the oil company explained in the report that while the October 2021 crude oil exports of 50,000 barrels under the Production Sharing Contract, valued at $4.18 million was payable in November 2021, the October 2021 domestic crude oil payment expected in January 2022 from the six firms is ₦249.3 billion.

The company further noted that the October 2021 domestic crude oil payable in January 2022 by the NNPC was in line with the 90 days payment terms, adding that the six firms were its Joint Venture partners.

Oil firms

It outlined the firms from where the funds were being expected to include Chevron Nigeria Limited (CNL), Mobil Producing Nigeria (MPN), Shell Petroleum Development Company (SPDC), MidWestern, Pillar and First Exploration and Production.

It said CNL would be paying for 2.268 million barrels of domestic crude valued at ₦73.85 billion, while MPN would remit ₦123.22 billion for 3.8 million barrels of domestic crude oil.

The SPDC and MidWestern would be paying for 828,556 and 100,000 barrels of domestic crude oil valued at ₦26.966 billion and ₦3.25 billion, respectively.

For Pillar and First E&P, the firms would pay for 20,000 and 649,677 barrels of domestic crude oil valued at N650.91m and N21.36bn, respectively.

The report put the total volume of domestic crude oil payable by the firms in January 2022 at 7.666 million barrels, while the value of the commodity was put at ₦249.3 billion.

“This value shortfall consists of ₦220,110,853,427.56 for November and ₦50,720,290,429.00 deferred for recovery in December 2021 FAAC Report.”

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Nigeria, Developing Africa Group Sign MoU On Creation Of Intellectual Property Commercialisation Project

By
Victor Okeh
-
Nigeria, Developing Africa Group Sign MoU On Creation Of Intellectual Property Commercialisation Project

The Federal Government has signed a memorandum of understanding (MoU) with Developing Africa Group from UK, to establish the first in Africa first intellectual property rights (IPR) commercialization project in Nigeria.

The Head of Press and Public Relations of the Ministry of industry, Trade and Investment, Ibrahim Haruna disclosed the information.

The Minister of Industry, Trade and Investment,, Adeniyi Adebayo, was quoted as saying that the MoU would enable the group to use IPR as a means of resolving some of the issues and challenges facing Nigeria as well as provide jobs and trade services.

According to the minister, the pilot project was structured for a period of three years.

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“This is to address some of the issues surrounding unemployment and allow rural communities in Nigeria to start attracting commercial interests,” he said.

“Since trademarks are crucial to the promotion of trade and economic development, and Nigeria happens to be one of the strong regional hubs of trade in Africa being the continent’s biggest economy.

“It is no surprise that it has attracted the world’s IP governing body in Abuja, as Nigeria hosted one of the only two World Intellectual Property Office’s (WIPO) external offices in Africa.

“Africa in general and Nigeria in particular, faces an enormous challenge of industrialisation and unemployment generation given the significant population growth.

“The African Development Bank estimates that youth unemployment is twice as high as that of adults and that young people account for approximately 60 per cent of the continent’s jobless population.

“The problem is only set to become more acute given estimates that some 12 million young people on the continent enter the job market each year.”

The minister advised the group to collaborate with the WIPO Office in Nigeria to accomplish the goals.

The chairperson of the group, Jamila Ahmadu-Suka, assured that the use of the IPR would introduce a several technology-based projects in the country.

Pipeline Explosion Won’t Disrupt Flow Of Petroleum Products- NNPC

By
Victor Okeh
-
NNPC Says Fuel Scarcity Will End Next Week

The Nigerian National Petroleum Company (NNPC) has stated that the pipeline fire at Iyana-Odo/Baruwa axis of Lagos will not unsettle the supply of petroleum products across the country.

NNPC’s Group Managing Director, Mele Kyari, stated this on Friday during a visit to the scene of the incident.

The collapse of an electricity transmission tower on the pipeline on Friday resulted in the fire.

The NNPC GMD, who was represented by Isiyaku Abdullahi, managing director, Pipelines and Products Marketing Company (PPMC) Ltd, stated that the fire incident affected a portion of system 2B pipeline within the area, noting that the visit was to ascertain the extent of the incident.

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“We want to assure Nigerians that this incident will not affect the supply and distribution of petroleum products across the country,” he said.

Kyari staed further that official of the national oil company were working with the Lagos government and other relevant authorities to permanently put out the fire.

Confirming the incident earlier on Friday, Ibrahim Farinloye, acting coordinator, south-west zonal office of the National Emergency Management Agency (NEMA), said sparks from the collapsed tower led to the fire outbreak.

“The electricity cable collapse led to sparks and the sparks got to spilled petrol around the area which led to the pipeline fire and a subsequent explosion,” he said.

“The pipeline corridor has been known to have spillage often due to activities of vandals.”

The incident caused power outage in parts of Lagos State.

Reps Approve ₦17.126trn As Budget For 2022

By
Adepeju Aina
-
Reps Ignore Bill Probiting Health Workers From Going On Strike

The House of Representatives (reps) on Tuesday passed a 2022 budget of ₦17.126 trillion which is higher than the ₦16.391 trillion sum presented by President Muhammadu Buhari.

The Senate is also expected to pass the appropriation bill on Tuesday.

While the major capital, recurrent, debt service, statutory transfers remain untouched, the House made provision for an increase by ₦400 billion for agencies that came forward with financial reports which were not captured in the proposed budget, such as INEC, Ministries of Humanitarian Affairs, the National Assembly, and more.

In passing the bill, the House increased the benchmark price for crude from $57 to $62 per barrel, from which a proposed increase in revenue is expected.

The lawmakers also made provision for 10 percent of monies recovered by EFCC and the National Financial Intelligence Unit to be utilised by the agencies for their operations, to strengthen their fight against corruption.

The budget deficit was increased by N98 billion to accommodate some other requests of national importance which have not been captured in the budget estimates and which could not be covered by the revenue increase.

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NNPC Assures On Availability Of Petroleum Products During Yuletide

By
BWN
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Why We Further Increase Petrol Prices -Marketers

The Nigerian National Petroleum Company Ltd. (NNPC) says it will continue to work tirelessly to ensure sufficient supply of petrol to every part of the country during and beyond the forthcoming festive period.

Group General Manager, Group Public Affairs Division, NNPC, Garba Muhammad, made this known in a statement in Abuja.

Muhammad expressed appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.

“The NNPC is once again giving Nigerians strong assurance that we have product sufficiency that will last far beyond the festive period.

“Indeed, our stock has risen from a reserve of 1.7 billion litres to over two billion litres within the last one month,” he said.

Muhammad, therefore, urged Nigerians not to engage in panic buying, but to fully enjoy the spirit of the festive season.

While appreciating Nigerians for their understanding and support, he promised that NNPC will not relent, in always ensuring sufficient supply of petrol.

“We wish you all happy celebrations,” he said.

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Nigeria’s Headline Inflation Decreased In Nov. To 15.40% – NBS

By
David Oputah
-
Crude Oil, Natural Gas Tops Nigeria's Exported Commodities In Q4, 2020 - NBS

Nigeria’s Headline inflation decreased by 0.59 percent to 15.40 percent in November, the National Bureau of Statistics (NBS) has revealed.

Statistician-General of the Federation, Simon Harry, who made the announcement on Wednesday in Abuja during a media conference, also stated that the rebasing of the nation’s economy would take place in 2022 after completing the National Agricultural Sample Census (NASC).

According to him, there has been a consistent decrease in the inflation rate in the last eight months and the figure for November is a decrease from the 15.99 percent recorded in October.

“With this, it means that the declining trend for about eight months portends a positive signal given the favourable economic conditions, the rate of inflation in Nigeria would come down to a bearable level.”

Harry said that on a month-on-month basis, the headline index increased by 1.08 percent in November, which was 0.10 percent higher than the 0.98 percent recorded in October.

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The urban inflation rate increased by 15.92 percent (year-on-year) in November from 15.47 percent recorded in November 2020, while the rural inflation rate increased by 14.89 percent in November from 14.33 percent in November 2020.

On a month-on-month basis, however, the urban index rose by 1.12 percent in November, up by 0.10 percent from the 1.02 percent recorded in October, while the rural index also rose by 1.04 percent in November, up by 0.09 percent from the 0.95 percent rate recorded in October.

He also said that the composite food index rose by 17.21 percent in November compared to 18.30 percent in November 2020.

According to him, the rise in the food index was caused by increases in prices of bread and cereals, fish, food product such as potatoes, yam, and other tubers, oil and fats, milk, cheese and eggs, and coffee, tea, and cocoa.

However, on a month-on-month basis, the food sub-index increased by 1.07 percent in November, up by 0.16 percent points from 0.91 percent recorded in October.

Also, the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 13.85 percent in November, up by 0.61 percent when compared with 11.05 percent recorded in November 2020.

He added that on a month-on-month basis, the core sub-index increased by 1.26 percent in November.

“This was down by 0.46 percent when compared with 0.80 percent recorded in October.

“The highest increases were recorded in prices of gas, liquid fuel, other services such as garments, vehicle spare parts, passenger transport by road, non-durable household goods, jewelry, clocks, and watches.

“Others are passenger transport by air, pharmaceutical products, appliances, articles, and products for personal care, cleaning, repair and hire of clothing and fuels and lubricants for personal transport equipment.”

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NCC Conducts Mock Session For 5G

By
Adepeju Aina
-
"MTN, Mafab To Roll Out 5G Services From August 24" - NCC

The Nigerian Communications Commission (NCC) says it has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the country.

Dr. Ikechukwu Adinde, NCC’s spokesman explained that the simulated auction held on Friday in Abuja was preparatory to the main auction scheduled to take place on Monday.

He said the conduct of the simulation exercise was in line with the requirements stipulated in the Information Memorandum (IM) for the 3.5 GHz spectrum auction.

The IM is a document that defines the process for the licensing of the 3.5 GHz spectrum band earlier published on the commission’s website at the inception of the auction process.

“Using the Ascending Clock Auction System for the mock session, the three qualified bidders for the 3.5 GHz spectrum, namely MTN Nigeria, Mafab Communications Ltd, and Airtel Networks Ltd, participated in the software-based simulated auction exercise,” the statement said.

“Following the successful mock auction, the stage is set for the commission to license two slots in the 3.5 GHz spectrum band expected to be picked by successful bidders at the end of the Main Auction on Monday, December 13, 2021.

“The auction on Monday will mark a turning point in Nigeria’s determination to harness the benefits of 5G for the nation’s socio-economic growth as the concrete roll-out of 5G commences in 2022.”

Chairman of NCC Board of Commissioners, Professor Adeolu Akande; the Executive Vice Chairman and Chief Executive Officer of the commission, Professor Umar Danbatta; Executive Commissioner (Technical Services), Ubale Maska, and the Executive Commissioner (Stakeholder Management), Adeleke Adewolu, were among those who witnessed the exercise.

Others include representatives from the bidding companies, senior management staff from relevant departments of the commission, technical consultants, software consultants, legal consultants, and other external observers.

In a brief remark at the mock auction, Danbatta said the commission had taken all necessary steps to ensure due diligence on the credibility of the consultants and to safeguard the integrity of the software solution being used to carry out the implementation of the national assignment.

“This is consistent with the open, credible transparent, and fair manner by which the commission is known to have conducted previous auction processes, which have been locally and globally applauded,” Danbatta was quoted as saying in the statement.

In order to ensure a fail-proof process, Adinde said the NCC also carried out a simulation of the manual process of the auction, aside from the electronic mock.

He explained that this was to make bidders familiar with the manual auction in case of any circumstances on the main action day that may warrant a need to switch to the manual auction.

“It is pertinent to note that the two forms- electronic and manual- are clearly stated in the IM and they follow the same process,” the statement added.

“Representatives of the bidding companies, the commission, the consultants, and other observers at the mock auction expressed satisfaction with the conduct of the simulation exercise, which also provided an opportunity for the commission to perfect the auction process ahead of the main auction.

“The commission had commenced the process for the auction of the 5G spectrum in the last quarter of the 2021 and had, since then, carried out a number of activities ahead of the main auction.”

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Fuel May Sell Above N340/litre – Marketers

By
Victor Okeh
-
Marketers Express Concerns Petrol May Sell Above N340/litre

The retail price of Premium Motor Spirit, popularly known as petrol, may be sold above the projected N340/litre in February 2022 once the Federal Government stops its subsidy on the commodity, oil marketers said on Tuesday.

Findings show that both independent and major oil marketers were perfecting plans to begin PMS importation soon as the government ends the subsidy regime.

They have raised concern over the unstable condition in foreign exchange rates and how this would affect petrol price in the coming year.

The Nigerian National Petroleum Company Limited has been the sole importer of petrol into Nigeria for about four years. The inability of marketers to effectively access the United States dollar for the purpose of importing refined crude oil forced them to stop.

The Group Managing Director of NNPC, Mele Kyari, last week, announced at a World Bank event in Abuja that beginning from February 2022, the price of petrol would range between N320 and N340 per litre by which time the Federal Government have removed the subsidy.

He stated that Nigeria would cease to subsidize the commodity in the first quarter of next year, adding that subsidy would have been removed this year but was suspended owing to certain conditions.

According to PUNCH, some marketers on Tuesday stated that the cost of petrol would be above the amount projected, which is between N320 – N340/litres if there was no improvement in the foreign exchange rate.

According to Dealers under the aegis of Independent Petroleum Marketers Association of Nigeria and Petroleum Products Retail Outlets owners Association of Nigeria stated their readiness to import petrol, however, also noted the cost of the commodity would be high in February.

IPMAN and PETROAN members own bulk of the filling stations across the country and currently make purchases from depots before selling to final consumers at their various retail outlets.

“Yes, if there is no subsidy, some marketers can import, but the only thing is that it will be costly. The price will be higher than the projected cost because of the exchange rate,” the National Vice President, IPMAN, Abubakar Maigandi, stated.

Oil Price Falls To $70 Per Barrel Ahead Of OPEC+ Meeting

He added, “The challenge of accessing forex will definitely affect imports because over 90 per cent of petrol that will be consumed across the country will depend on importation. Also this is because the refineries are not functioning.”

The National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, also stated that the foreign exchange rate would determine the cost of petrol from next year after subsidy removal.

He said, “If the Federal Government says there is no going back on subsidy removal this time round, which is a challenge that has dragged on for about 30 years, then it means that they are going to liberalise the market.

“By liberalising the market it will now help independent and major marketers to be able to freely import petroleum products from any source so that products will be available in Nigeria.”

He added, “However, it is pertinent to note the forces of demand and supply will determine the price of the commodity in Nigeria. So literally, whatever the dollar rate is in the international and local markets will pose the actual challenge to marketers

“The issue of black market and official exchange rates is a serious challenge that we foresee. But we believe that the Federal Government is doing something by meeting with the bureau d’change operators on this, so that whatever is obtainable at the banks is what you get in the open market.”

On whether the forex issue could lead to a higher price than the projected N340/litre, Chinedu replied, “Aside from the adverse effects of the removal of subsidy on the wellbeing of Nigerians, we will, of course, see a price that is higher than what they project.

“The price will be higher. It will be higher because the dollar to a large extent determines the price of petroleum products. If the dollar goes up, the price of petrol will increase, and vice versa.”

The President PETROAN, Billy Gillis-Harry, confirmed the position of IPMAN, as he, however, explained that members of his association were ready to import the commodity.

He said, “At PETROAN we already have a vehicle that is in place to start importation petroleum products, gas and other products. We encourage the government to completely remove subsidy.

On the possibility of higher pump price than the projected N340/litre, Gillis-Harry said, “That is why we said that every single thing about petroleum products should be premised on the forces of the market.

“The forces of demand and supply should determine the price.”

The spokesperson of NNPC, Garba-Deen Muhammad, told our correspondent that the issue of petrol pricing was not the function of the oil firm.

“Price issues are policy matters. NNPC does not fix price, it has no mandate. It operates in the sector as a business concern governed by CAMA Laws,” he stated.

Despite Interventions, Six Million Electricity Consumers On Estimated Billing

By
Ife Ogunfuwa
-
Ibadan DisCo Announces Relaunch Of MAPS

Despite interventions and funding channeled to the distribution of prepaid meters across the country, about six million electricity consumers are still being given estimated billing.

A report by the Nigerian Electricity Regulatory Commission (NERC) in January this year had put the number of meters contracted through the Meter Asset Providers scheme (MAPS) and National Mass Metering Programme (NMMP) at 7,588,972, indicating that over 7.5 million customers will be needing prepaid meters had the time.

However, The PUNCH gathered from the Federal Ministry of Power on Tuesday that the deployment of meters through the NMMP had risen to 750,000.

A combination of meter deployment by both schemes showed that about 1.26 million meters had been deployed out of the over 7.5 million unmetered customers captured by the NERC.

Operators in the sector explained that the deployment of meters this year was basically through the NMMP, as the MAP scheme was not fast in meter provision.

READ ALSO: Stock Exchange: Market Capitalisation Drops By 0.27%

The National Mass Metering Programme, funded by the Central Bank of Nigeria, was instituted in September 2020 to increase the rate of metering through the provision of free meters.

The Meter Asset Providers scheme, on the other hand, took effect on April 3, 2018, introducing meter providers as a new set of service providers in the Nigeria Electricity Supply Industry.

This came as power distributors told our correspondent that meters provided under Phase Zero of the NMMP had so far been deployed to customers.

They stated that many Discos currently lacked meters as only a few were on ground for distribution to the over six million unmetered power users nationwide.

“Under Phase Zero, they (government) had a particular number that they gave to each Disco and the target was to provide about one million meters,” an official with the Association of Nigerian Electricity Distributors, who pleaded not to be named as he was not authorised to speak on the matter, said.

The official added, “Ikeja Disco received over 100,000 meters; Ibadan Disco also got over 100,000 meters; while some others got about 90,000 meters, as the allocations were based on the Disco.”

Explaining how the free meters under Phase Zero of the NMMP were acquired, the ANED official stated that the government worked with meter manufacturers to know their respective capacities.

NEPC trains small businesses to drive non-oil export growth

By
Kehinde Victor
-

Key Points

  • The Nigerian Export Promotion Council (NEPC) is conducting intensive capacity-building workshops to prepare small and medium enterprises for the global market.
  • Participants are being trained on international standards, documentation, and formal export procedures to boost Nigeria’s trade volume and GDP.
  • NEPC is providing essential certifications, such as the HACCP, which are mandatory for exporting products to Europe and the United States.
  • The council is advocating for the use of clusters and common processing centers to provide machinery and technical support to exporters.
  • Exporters who maintain proper accounts and repatriate proceeds are eligible for financial incentives through the Export Expansion Grant (EEG).

Main Story

The Nigerian Export Promotion Council (NEPC) has reaffirmed its commitment to transforming local small businesses into global competitors through a specialized competency workshop in Kano.

North West Regional Coordinator, Hajiya Amina Abdulmalik, emphasized that the initiative aims to equip at least half of the participants with the immediate skills necessary to take their products beyond Nigerian borders. By shifting from informal to formal export channels, the council expects to see a significant positive impact on the nation’s Gross Domestic Product.

To bridge the gap between local production and international expectations, NEPC is facilitating the acquisition of critical certifications that are typically cost-prohibitive for individual small businesses.

These include the Hazard Analysis and Critical Control Point (HACCP) certificate, a strict requirement for entry into Western markets.

Collaborating with the Kano Chambers of Commerce (KACCIMA), the council is also guiding agribusiness operators on compliance with international regulations to ensure that Nigerian products are not rejected abroad.

The Issues

  • Many local entrepreneurs lack detailed knowledge of the complex procedures, standards, and documentation required for international trade.
  • Individual small businesses often struggle to afford high-end processing machinery, making the “cluster” model a necessity for industrial growth.
  • To qualify for government financial incentives like the EEG, businesses must adhere to strict rules regarding account maintenance and the repatriation of foreign proceeds.
  • Without specialized certificates like the HACCP and MDE, Nigerian exports face significant barriers in high-value markets such as the U.S. and Europe.

What’s Being Said

“The essence of organizing this workshop is to prepare our exporters, build their capacity, and make them ready to export.” — Hajiya Amina Abdulmalik, Regional Coordinator, NEPC

“These certificates are essential for exporting to Europe and the United States. Without them, individuals would face significant costs.” — Hajiya Amina Abdulmalik, Regional Coordinator, NEPC

What’s Next

  • Participants will begin the process of formalizing their businesses to meet the requirements for the Export Expansion Grant.
  • NEPC and KACCIMA will continue to monitor agribusiness operators in Kano to ensure compliance with international export rules.
  • There will be an increased focus on developing common facility centers where clusters of exporters can share machinery and processing tools.
  • The council plans to expand the distribution of mandatory development certificates to more women-led enterprises to increase inclusivity in trade.

Bottom Line

By providing both technical knowledge and the legal certifications required for global trade, the NEPC is positioning Nigerian small businesses to lead the nation’s non-oil economic expansion.

Nollywood stars Lateef Adedimeji and Mo Bimpe welcome triplets

Nigeria and UAE move to strengthen bilateral trade and customs cooperation

By
Kehinde Victor
-

Key Points

  • The Nigeria Customs Service (NCS) and the United Arab Emirates (UAE) have committed to fortifying bilateral trade and customs relations.
  • NCS Comptroller-General Bashir Adeniyi and UAE Ambassador Salem Saeed Al-Shamsi held diplomatic talks in Abuja to finalize cooperation strategies.
  • Non-oil trade between the two nations saw a substantial increase between 2023 and 2025.
  • A Memorandum of Understanding (MoU) is being finalized to streamline customs administration and trade facilitation.
  • The partnership specifically aims to support Small and Medium Enterprises (SMEs) by making trade processes easier and more transparent.

Main Story

Nigeria and the United Arab Emirates are deepening their economic ties through a new strategic partnership focused on customs efficiency and secure trade.

During a diplomatic meeting in Abuja, NCS Comptroller-General Bashir Adeniyi emphasized that the engagement is designed to boost trust and security while facilitating ease of doing business. The collaboration seeks to bring the customs administrations of both nations closer to ensure legitimate trade flows without the bottlenecks that often hinder smaller businesses.

The UAE Ambassador, Salem Saeed Al-Shamsi, noted that despite global challenges, the relationship remains one of the most productive for the UAE, particularly regarding non-oil exports.

To formalize this growth, both parties are working on a Memorandum of Understanding that will serve as a framework for future customs innovations.

The engagement also touched on the need for stronger security cooperation to protect Nigeria’s international reputation by identifying individuals involved in illicit trade activities.

The Issues

  • Small and Medium Enterprises often face complex hurdles in international trade that this partnership seeks to eliminate.
  • Finalizing the MoU is critical for harmonizing customs administration between the NCS and UAE Customs.
  • Strengthening collaboration is necessary to identify and curb the actions of individuals who damage Nigeria’s commercial image abroad.
  • The C-G’s new role as Chairman of the World Customs Organisation (WCO) adds a layer of international expectation to Nigeria’s trade reforms.

What’s Being Said

“We are happy to work with the UAE to show the true nature of trade and make it easier, especially for SMEs.” — Bashir Adeniyi, Comptroller-General, NCS

“We have achieved a substantial increase in non-oil trade from the year 2023 to 2025.” — Salem Saeed Al-Shamsi, UAE Ambassador to Nigeria

“The engagement would fortify the cordial relationship between Nigeria and the UAE and enhance security and trust.” — Abdullahi Maiwada, NCS Spokesperson

What’s Next

  • Finalization and signing of the Memorandum of Understanding between the Nigeria Customs Service and UAE Customs.
  • Implementation of new trade facilitation tools specifically designed to assist SMEs in accessing UAE markets.
  • Increased information sharing between the UAE Embassy and the NCS to identify and prevent fraudulent trade practices.
  • Continued monitoring of non-oil trade volumes to build on the growth seen over the last two years.

Bottom Line

The evolving partnership between Nigeria and the UAE signifies a move toward a more transparent and tech-driven trade corridor, prioritizing the growth of non-oil sectors and small businesses.

May Day: NLC, TUC decry rising insecurity, poverty as labour demands decent work

Nollywood stars Lateef Adedimeji and Mo Bimpe welcome triplets

By
Kehinde Victor
-

Key Points

  • Nollywood actor Lateef Adedimeji and his wife, actress Adebimpe Oyebade (Mo Bimpe), have announced the birth of triplets.
  • The actor shared the news on his verified Instagram page on Friday, describing his three sons as his “greatest blessing”.
  • The announcement follows years of social media scrutiny and trolling regarding the couple’s childless status since their 2021 wedding.
  • Adedimeji noted he had been “building and protecting” his world during his recent period of relative silence.
  • Prominent industry colleagues and thousands of fans have flooded social media to celebrate the arrival of the “triple miracle”.

Main Story

Nollywood power couple Lateef Adedimeji and Mo Bimpe have welcomed three sons, a development the actor described as his legacy and greatest blessing.

Adedimeji took to Instagram on Friday to break his recent silence, explaining that his time away from the public eye was dedicated to protecting his growing family.

The news has sparked a massive celebration across the Nigerian entertainment industry, with colleagues describing the births as a “miracle”.

The arrival of the triplets marks a significant personal milestone for the couple, who married in December 2021. Since their wedding, they have frequently faced intense public pressure and online trolling concerning their journey toward parenthood.

While viral rumors and “clickbait” videos had previously made false claims about the couple having twins, this official confirmation of triplets has turned the narrative into one of widespread joy and support.

The Issues

  • The couple endured years of unsolicited commentary and social media trolling from critics over their childless status.
  • Prior to the official announcement, the family’s journey was often exploited by viral “clickbait” content and false reports.
  • Adedimeji highlighted the need for public figures to step back from the spotlight to protect their private lives and mental health.
  • The overwhelming industry response underscores the high level of emotional investment fans and colleagues have in the couple’s personal lives.

What’s Being Said

“I’ve been quiet, not absent. I was building and protecting my world.” — Lateef Adedimeji, Actor

“God is Good! I am in tears.” — Juliana Oloyede, Actress

“I am celebrating my wife as a mother of three and my legacy.” — Lateef Adedimeji, Actor

What’s Next

  • The couple is expected to share more updates on their new journey as parents of three with their global fanbase.
  • Support from veteran actors like Fathia Balogun and Iyabo Ojo suggests a strong communal support system for the new parents.
  • Continued advocacy from the couple regarding the respect of private journeys for public figures in the wake of past trolling.
  • Fans are anticipating more content celebrating the “triple miracle” as the news continues to trend across social media platforms.

Bottom Line

The arrival of triplets for Lateef Adedimeji and Mo Bimpe serves as a joyful conclusion to years of public scrutiny, replacing online trolling with a massive celebration of family.

25 Convicted in $215 Million Global Email Fraud Scheme Targeting Over 1,000 Victims

EKEDC attributes Festac power disruptions to substation rehabilitation

By
Kehinde Victor
-

Key Points

  • Eko Electricity Distribution Company (EKEDC) has linked intermittent power supply in Festac and surrounding areas to a rehabilitation project at the Amuwo 132kV substation.
  • The project is being executed by the Transmission Company of Nigeria (TCN) to strengthen infrastructure and improve long-term reliability.
  • Residents in affected areas are currently subjected to daily load shedding as work continues on feeders linked to the substation.
  • Areas impacted by the project include Festac Town, Kirikiri, Satellite Town Phase 1, and the Army Signal Barracks.
  • EKEDC officials have appealed for patience, stating that the upgrades will lead to a more stable and efficient network upon completion.

Main Story

Residents and business owners in the Festac axis of Lagos are currently facing inconsistent electricity supply as the Transmission Company of Nigeria (TCN) undergoes major rehabilitation at the Amuwo 132kV substation.

EKEDC confirmed that the project is a targeted intervention aimed at addressing longstanding network capacity issues and upgrading the region’s power infrastructure.

The work is expected to enhance the overall efficiency of the grid serving one of the city’s most significant residential and commercial hubs.

While the rehabilitation is designed to deliver long-term stability, the immediate impact has resulted in widespread disruptions. EKEDC explained that several major feeders are being managed through daily load shedding to allow technical teams to carry out necessary upgrades safely.

The company noted that it is maintaining transparency through town hall meetings and regular updates to ensure stakeholders remain informed throughout the duration of the project.

The Issues

  • The ongoing project requires daily load shedding across multiple communities to balance the remaining load while equipment is being rehabilitated.
  • Business owners in the commercial hub of Festac have expressed concerns over how the inconsistent supply is impacting their economic activities.
  • The project covers a vast area including Kirikiri, Ojo Road, Ajeromi, Agboju, and Satellite Town, affecting thousands of residential and commercial customers.
  • Coordination between the distributing utility (EKEDC) and the transmission body (TCN) is essential to minimize the timeline of the disruptions.

What’s Being Said

“The rehabilitation will enhance network capacity and address longstanding issues of unstable electricity supply.” — Mrs. Nnenna Nwobodo, Acting Head of Corporate Communications, EKEDC

“Upon completion, residents should experience more stable and efficient power supply.” — Mrs. Nnenna Nwobodo, Acting Head of Corporate Communications, EKEDC

“The initiative underscores our commitment to transparency and sustained community engagement.” — EKEDC Statement

What’s Next

  • Technical teams from TCN will continue the phased rehabilitation of the Amuwo substation infrastructure.
  • EKEDC will maintain its daily load-shedding schedule for the listed communities until the rehabilitation work is concluded.
  • Further town hall meetings are expected to be held to provide residents with specific timelines for the completion of the project.
  • Once completed, the feeders for Festac and adjoining areas will be restored to full capacity to allow for more consistent service delivery.

Bottom Line

Infrastructure Upgrade. While the current disruptions pose a challenge to local businesses, the substation rehabilitation is a necessary step toward building a more resilient power network for the Festac region.

FG Approves Lagos, Kano, Kaduna Rail Projects to Boost Urban Transport

Nigerian exchange records growth as market capitalisation hits N155.994 trillion

By
Kehinde Victor
-
Capital Market Goes Green Ahead Of 2022 Corporate Earnings

Key Points

  • Investors traded 4.842 billion shares valued at N287.756 billion in 332,453 deals this week.
  • The performance reflects an increase in volume, value, and transactions compared to the previous week’s results.
  • The All-Share Index and market capitalisation both appreciated by 7.33 per cent during the four-day trading week.
  • The financial services sector dominated the market, accounting for 77.56 per cent of the total equity turnover volume.
  • Gains were led by Zichis Agro Allied Industries and BUA Cement, while United Bank for Africa topped the losers’ chart.

Main Story

The Nigerian Exchange Ltd. (NGX) saw a significant surge in activity this week, with market capitalisation closing at N155.994 trillion. Despite a shortened trading week due to the Workers’ Day public holiday, the market recorded growth across all major performance metrics. Volume rose from 3.805 billion to 4.842 billion shares, while the total value of trades jumped from N213.955 billion to N287.756 billion.

The financial services industry remained the primary driver of market activity, contributing nearly half of the total trading value.

Access Holdings, United Bank for Africa, and Wema Bank emerged as the top three equities, collectively accounting for over 40 per cent of the total turnover volume.

While the broader market indices finished higher, specific sectors including banking and insurance experienced slight depreciations during the period.

The Issues

  • High reliance on the financial services sector, which continues to account for the lion’s share of market volume and value.
  • Mixed Indices: While the main index appreciated, several key sub-indices like NGX Banking and NGX Insurance faced declines.
  • The market operated for only four days, yet still managed to outperform the previous full trading week.
  • A total of 53 equities depreciated in price, highlighting continued volatility despite the overall market appreciation.

What’s Being Said

“The financial services industry led the activity chart with 3.755 billion shares valued at N124.398 billion traded in 146,938 deals.” — NGX Weekly Report

“The NGX All-Share Index and market capitalisation appreciated by 7.33 per cent to close the week at 242,277.81 and N155.994 trillion respectively.” — Market Analysis

“Trading in the top three equities… contributed 41.85 per cent and 20.86 per cent to the total equity turnover volume and value respectively.” — Transaction Review

What’s Next

  • Market analysts will monitor the financial services sector to see if it maintains its dominant 77 per cent volume contribution.
  • Investors are expected to watch for a rebound in the banking and insurance indices following their depreciation this week.
  • Attention will turn to the 53 equities that lost value to determine if a price correction is imminent.
  • Observers will track whether the All-Share Index can sustain its growth above the 242,000 mark in the coming week.

Bottom Line

The robust increase in turnover and capitalisation demonstrates strong investor confidence and liquid market conditions, even within a condensed trading window.

Dollar To Naira Exchange Rate Today, May 1st, 2026

Dollar To Naira Exchange Rate Today, May 1st, 2026

By
Boluwatife Oshadiya
-
Dollar To Naira Exchange Rate Today (Mon. July. 24, 2023)

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1386 per $1 on Friday, May 1st, 2026. The naira traded as high as 1365 to the dollar at the investors and exporters (I&E) window on Thursday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1385 on Thursday 30th April, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1400
Buying Rate₦1385

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1386
Lowest Rate₦1365

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

FG Approves Lagos, Kano, Kaduna Rail Projects to Boost Urban Transport

FG Approves Lagos, Kano, Kaduna Rail Projects to Boost Urban Transport

By
Boluwatife Oshadiya
-
Chinese Engineering Firm Dominates Nigeria's Railway Projects

By BizWatch Nigeria Reporter

Key Points

  • Federal Executive Council approves three major rail projects
  • Projects include Lagos Green Line, Kano Metro, and Kaduna Light Rail
  • Funding to be provided by Ministry of Finance Incorporated
  • Initiative targets improved mobility and economic growth

Main Story

The Federal Government has approved contracts for three major rail infrastructure projects aimed at transforming urban transportation and driving economic development across key Nigerian cities.

The approval was announced following a meeting of the Federal Executive Council (FEC), where the Honourable Minister of Finance, Taiwo Oyedele, confirmed that the projects will be financed through the Ministry of Finance Incorporated (MOFI) on behalf of the federal government.

The approved projects include Phase 1A of the Lagos Green Line Rail Project, the Kano Metro City Rail Project, and the Kaduna State Light Rail Project.

According to the minister, the initiative forms part of a broader strategy to modernise Nigeria’s transport infrastructure, reduce urban congestion, and improve connectivity in rapidly growing metropolitan areas.

The Lagos Green Line is expected to complement existing rail systems in the state, enhancing east-west connectivity and supporting the state’s expanding population and commercial activities. Similarly, the Kano Metro project is designed to ease movement within one of northern Nigeria’s busiest commercial hubs, while the Kaduna Light Rail is aimed at strengthening intra-city transport.

The financing structure through MOFI reflects a shift towards more centralised and strategic funding of large-scale infrastructure, with the government seeking to unlock long-term economic value through improved logistics and mobility.

What’s Being Said

Government officials say the projects will play a critical role in stimulating economic growth by improving the ease of movement for people and goods, reducing travel time, and lowering transportation costs.

Infrastructure analysts have also noted that sustained investment in rail systems is essential for Nigeria’s urban development, particularly as cities continue to experience rapid population growth.

What’s Next

Project implementation timelines, contractors, and cost breakdowns are expected to be disclosed in subsequent announcements. Construction is anticipated to begin in phases, with the government expected to prioritise sections with the highest traffic demand and economic impact.

Tinubu to host 126 nations at World PR Forum in Abuja

May Day: NLC, TUC decry rising insecurity, poverty as labour demands decent work

By
Ibe Wada
-

Key points

  • Labour leaders warn insecurity and poverty are worsening unemployment and inequality.
  • Informal sector now accounts for about 90% of jobs in Nigeria.
  • Calls intensify for decent work, social protection and economic reforms.

Main story

Labour leaders under the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have raised concerns over worsening insecurity, poverty and the shrinking space for decent work in Nigeria, warning that the trend is undermining workers’ welfare and national productivity.

Speaking at a pre-May Day lecture in Abuja ahead of the 2026 Workers’ Day celebration, NLC President Joe Ajaero said insecurity and poverty remain major barriers to economic growth and job creation.

He noted that millions of Nigerians are trapped below the poverty line, while formal job opportunities continue to decline.

According to him, nearly 90 per cent of jobs in Nigeria are now in the informal sector, where workers lack pensions, job security and decent working conditions.

TUC President Festus Osifo also called for stronger solidarity among workers, stressing that decent work remains non-negotiable.

Delivering the keynote address, Prof Kunle Olawunmi warned that insecurity and poverty directly threaten productivity and national stability.

The issues

Labour leaders say Nigeria’s worsening insecurity is disrupting economic activity, particularly agriculture and small businesses, while deepening food insecurity and unemployment.

They also highlight the dominance of informal employment, lack of social protection, and weak wage structures as key challenges facing workers.

What’s being said

Ajaero said removing insecurity would restore agricultural productivity and revive local markets.

“If we remove insecurity today, you see that there will be food everywhere,” he said.

Osifo stressed that improving working conditions requires collective action.

“Decent work is a must for Nigerian workers and is not negotiable,” he said.

Olawunmi added that no economy can thrive under conditions of fear, hunger and displacement.

What’s next

Labour unions are expected to press further demands during May Day celebrations, focusing on wage improvements, job security, and expanded social protection for workers in both formal and informal sectors.

Bottom line

As Nigeria marks Workers’ Day, labour leaders warn that insecurity and poverty are eroding decent work, calling for urgent reforms to protect workers and strengthen the economy.

NAICOM assures stability as recapitalisation deadline nears

NAICOM assures stability as recapitalisation deadline nears

By
Ibe Wada
-

Key points

  • NAICOM vows no licensed insurer will be allowed to fail.
  • Weak firms to be supported through mergers, acquisitions, restructuring.
  • Recapitalisation deadline set for July 31, 2026.

Main story

The National Insurance Commission has reaffirmed its commitment to ensuring that no licensed insurance company in Nigeria collapses, as the industry undergoes a major recapitalisation process.

The Commissioner for Insurance and Chief Executive Officer, Olusegun Omosehin, made the assurance at the 2026 Awards and Recognition Ceremony of the Nigerian Insurers Association in Lagos.

Represented by Deputy Commissioner Ekerete Ola Gam-Ikon, Omosehin said the commission had identified financially weak insurers and was working closely with them to ensure survival through restructuring, mergers, or acquisitions.

He noted that the recapitalisation exercise, with a deadline of July 31, 2026, is aimed at strengthening the industry, safeguarding policyholders, and enhancing financial stability.

The issues

Nigeria’s insurance sector has long grappled with low public trust, weak capital base among operators, and limited penetration across the population.

Financial instability among some firms has also raised concerns about the safety of policyholders’ funds and the overall resilience of the industry.

What’s being said

Omosehin said NAICOM’s priority is to ensure all licensed operators remain viable.

“We have made it clear that no insurance company will be allowed to fail,” he said.

He cited intervention in African Alliance Insurance as a successful example of regulatory support that restored stability and confidence.

He added that the commission is also driving innovation and collaboration with stakeholders to expand insurance adoption, including integrating insurance with other financial services and promoting insurance-backed instruments.

What’s next

NAICOM is expected to intensify engagements with insurers ahead of the recapitalisation deadline, ensuring compliance and consolidation where necessary.

The commission also plans to deepen reforms aimed at boosting insurance penetration and improving service delivery across the sector.

Bottom line

With firm regulatory backing and ongoing recapitalisation, NAICOM aims to stabilise Nigeria’s insurance industry, protect policyholders, and rebuild public confidence in the sector.

Tinubu to host 126 nations at World PR Forum in Abuja

Tinubu to host 126 nations at World PR Forum in Abuja

By
Ibe Wada
-

Key points

  • Tinubu named Chief Host of 2026 World PR Forum.
  • Over 126 countries expected to attend global event in Abuja.
  • Forum to focus on “Responsible Communication” as global agenda.

Main story


President Bola Tinubu has been named Chief Host of the 2026 World Public Relations Forum, scheduled to hold from Nov. 15 to Nov. 21 in Abuja, with participation from over 126 countries.

The announcement was made by Justin Green, President of the Global Alliance for Public Relations and Communication Management, in a statement issued by the Nigerian Institute of Public Relations.

Green disclosed that Hakainde Hichilema, President of Zambia, would deliver the keynote address at the forum themed “Responsible Communication, the Voice of the World.”

He added that top global figures, including Melissa Fleming, UN Under-Secretary-General for Global Communications, and Samuel Heath, would participate as speakers.

The issues
Stakeholders say the forum comes at a time when responsible communication is increasingly critical in addressing global challenges such as misinformation, governance, and sustainable development.

There are also growing calls to recognise responsible communication as a key development priority globally.

What’s being said
Green said the participation of African leaders signals the continent’s readiness to host a world-class event.

“The theme resonates with our long quest for the inclusion of Responsible Communication as the 18th Sustainable Development Goal,” he said.

President of the Nigerian Institute of Public Relations, Ike Neliaku, said the institute was collaborating with the African Public Relations Association and other bodies to deliver a distinctive and impactful forum.

What’s next
Organisers are expected to intensify preparations ahead of the November event, focusing on stakeholder engagement, logistics, and global participation.

The forum is also expected to advance conversations around responsible communication as a global development priority.

Bottom line
With participation from over 126 countries, the 2026 World PR Forum positions Nigeria at the centre of global discourse on responsible communication and strategic public relations.

NDPC records 1,500 cyberattacks, flags data protection gaps

NDPC records 1,500 cyberattacks, flags data protection gaps

By
Ibe Wada
-

Key points

  • NDPC records over 1,500 cyberattack attempts within short period.
  • Temporary network shutdown highlights growing cybersecurity threats.
  • Shortage of data protection experts exposes capacity gaps.

Main story

The National Data Protection Commission has recorded more than 1,500 cyberattack attempts within a short period, exposing significant vulnerabilities in Nigeria’s data protection framework.

The National Commissioner, Vincent Olatunji, disclosed this during a data protection training programme in Lagos, noting that the commission was forced to temporarily shut down its network as a preventive measure against potential breaches.

Olatunji said cyber threats had become persistent and increasingly sophisticated, requiring organisations to adopt proactive, round-the-clock monitoring and updated security protocols.

“Cyberattacks are no longer occasional; they are constant,” he said.

The issues

Experts say Nigeria faces critical challenges in cybersecurity, including a shortage of qualified Data Protection Officers (DPOs), weak institutional capacity, and limited awareness of data protection practices.

The increasing frequency of cyberattacks also underscores the vulnerability of public and private sector systems to breaches and data loss.

What’s being said

Olatunji noted that the Nigeria Data Protection Act mandates organisations to engage DPOs, but a significant gap exists between demand and available expertise.

He added that the commission’s Public-Private Partnership model had generated over 10 million dollars in value and more than seven billion naira in government revenue, while boosting investor confidence.

He also cautioned against paying ransoms during cyberattacks, stressing that prevention remains the most effective strategy.

“Once you pay, you empower attackers,” he said.

A facilitator, Taiwo Oyeleye, said the training aimed to equip participants with practical and theoretical knowledge to strengthen data security.

Another expert, Wole Jacobs, called for stronger collaboration between NDPC and the National Information Technology Development Agency to tackle emerging threats.

What’s next

The NDPC plans to intensify capacity-building initiatives, promote certification of data protection professionals, and strengthen collaboration with key agencies to improve cybersecurity resilience.

Stakeholders also emphasise continuous training and adherence to global best practices.

Bottom line

Rising cyberattacks and limited expertise are exposing Nigeria’s data protection weaknesses, with experts urging urgent investment in skills, systems, and collaboration to safeguard digital assets.

NICASA backs Bianca Ojukwu’s elevation as Foreign Minister

NICASA backs Bianca Ojukwu’s elevation as Foreign Minister

By
Ibe Wada
-
Bianca-Ojukwu

Key points

  • NICASA describes Bianca Ojukwu’s elevation as well-deserved.
  • Group expresses confidence in her diplomatic leadership.
  • Calls for stronger Nigeria–South Africa relations and diaspora protection.

Main story

The Nigerian Citizens Association South Africa has commended the elevation of Bianca Odumegwu-Ojukwu to the position of substantive Minister of Foreign Affairs, describing it as well-deserved.

President Bola Tinubu approved her elevation from Minister of State to the top diplomatic role following the resignation of Yusuf Tuggar, who stepped down to pursue his governorship ambition ahead of the 2027 elections.

In a congratulatory message, NICASA President Frank Onyekwelu said Odumegwu-Ojukwu’s track record in diplomacy and public service positioned her to effectively advance Nigeria’s foreign policy goals.

The issues

Stakeholders say Nigeria’s foreign policy requires strong leadership to enhance global engagement and address concerns affecting citizens abroad, particularly in regions with recurring tensions involving Nigerians.

Issues such as xenophobia, law enforcement conduct, and community safety remain critical in Nigeria–South Africa relations.

What’s being said

Onyekwelu expressed confidence in the minister’s ability to strengthen diplomatic ties and protect Nigerians in the diaspora.

“We are confident that your leadership will further strengthen Nigeria’s global engagement and enhance the protection of Nigerians in the diaspora,” he said.

He also pledged NICASA’s support and urged the minister to deepen engagement with South Africa’s diplomatic institutions to improve bilateral cooperation.

According to him, sustained dialogue and institutional collaboration would help address key challenges affecting Nigerians abroad.

What’s next

The new minister is expected to engage with international partners, particularly South Africa, to strengthen bilateral relations and improve the welfare and security of Nigerians in the diaspora.

Stakeholders anticipate more proactive diplomatic strategies under her leadership.

Bottom line

NICASA’s endorsement underscores expectations that Bianca Ojukwu’s leadership will enhance Nigeria’s foreign relations and improve protection for citizens abroad.

Africa CDC pushes immunisation investment to boost health security

Africa CDC pushes immunisation investment to boost health security

By
Ibe Wada
-

Key points

  • Africa CDC calls for increased funding for immunisation programmes.
  • Underinvestment costs Africa up to $30 billion annually.
  • New initiatives target stronger health systems and outbreak response.

Main story

The Africa Centres for Disease Control and Prevention has called for increased investment in immunisation, warning that inadequate funding continues to weaken the continent’s health security and economic resilience.

Speaking at a weekly high-level briefing, Tolbert Nyenswah, Director for Pandemic Prevention, Preparedness and Response, described immunisation as one of the most cost-effective health interventions.

He noted that every one dollar invested in immunisation could generate up to 40 dollars in returns, while underinvestment costs Africa between 20 billion and 30 billion dollars annually.

“Immunisation is not an expenditure, but a strategic investment in Africa’s health sovereignty and security,” he said.

Nyenswah also highlighted key initiatives, including the launch of a Continental Immunisation Strategy aimed at closing equity gaps, reaching zero-dose children, and strengthening primary healthcare systems.

He added that Africa CDC was scaling up partnerships under the Africa Frontline First initiative to support the African Union’s target of deploying two million community health workers by 2030.

The issues

Experts say weak health financing, limited vaccine access, and inadequate infrastructure continue to undermine immunisation coverage across Africa.

Persistent outbreaks of preventable diseases, coupled with fragile healthcare systems, pose significant risks to public health and economic stability.

Cross-border health threats and limited access to care in vulnerable regions further complicate response efforts.

What’s being said

Nyenswah said africa cdc was strengthening collaboration with public and private sector stakeholders, including engagement with aliko dangote, to boost local pharmaceutical manufacturing.

He disclosed that response teams had been deployed to South Sudan following reports of a suspected viral haemorrhagic fever, although initial tests ruled out major diseases such as Ebola and Lassa fever.

He also provided updates on ongoing outbreaks, noting that cholera, measles, Mpox, and diphtheria remain top public health threats across the continent.

What’s next

Africa CDC plans to intensify vaccination campaigns, strengthen surveillance systems, and enhance emergency response capacity across member states.

The agency is also pushing for sustainable health financing reforms and greater continental coordination to address evolving health challenges.

Bottom line

With rising disease threats and funding gaps, Africa CDC says sustained investment in immunisation is critical to safeguarding health systems, preventing outbreaks, and strengthening long-term resilience across the continent.

AI fuelling surge in online abuse of women journalists — Study

AI fuelling surge in online abuse of women journalists — Study

By
Ibe Wada
-

 Key points

  • Reports of online violence against women journalists have doubled since 2020.
  • AI-driven tools such as deepfakes are intensifying abuse and harassment.
  • Rising attacks are forcing increased self-censorship and harming mental health.

Main story

A new study has revealed that artificial intelligence (AI) is making online abuse against women journalists easier, more sophisticated, and more damaging, with cases doubling globally since 2020.

The report, published by UN Women ahead of World Press Freedom Day, highlights the growing threat of digital violence against women in public-facing roles.

Titled “Tipping Point: Online Violence Impacts, Manifestation and Redress in the AI Age,” the study draws on a 2025 survey of 641 respondents across 119 countries, including journalists, activists, and human rights defenders.

The findings show that 12 per cent of respondents experienced non-consensual sharing of personal images, while six per cent reported being victims of AI-generated “deepfakes.” Additionally, one in three said they had received unsolicited sexual advances online.

The study further revealed that harassment has intensified for women journalists, with 45 per cent reporting self-censorship on social media—a sharp increase from 2020.

The issues

Experts say the rise of AI-driven harassment is eroding press freedom and democratic participation, as women journalists increasingly withdraw from public discourse due to safety concerns.

The report also highlights gaps in legal protection, with fewer than 40 per cent of countries having laws addressing cyber harassment and cyberstalking.

Mental health impacts are another major concern, with rising cases of anxiety, depression, and post-traumatic stress disorder linked to online abuse.

What’s being said

Kalliopi Mingerou said AI is accelerating the scale and impact of abuse.

“AI is making abuse easier and more damaging, and this is fueling the erosion of hard-won rights,” she said.

The report noted that 41 per cent of respondents self-censor on social media, while 19 per cent limit their professional work due to fear of harassment.

It also found that nearly a quarter of women journalists have been treated for anxiety or depression, while about 13 per cent have been diagnosed with post-traumatic stress disorder.

Despite the risks, more victims are reporting cases to authorities and pursuing legal action, indicating growing awareness and resistance.

What’s next

UN Women and its partners are calling for stronger legal frameworks, improved accountability for tech platforms, and urgent action to protect women journalists online.

A follow-up report will further examine the role of perpetrators and major technology companies in enabling or addressing digital abuse.

Bottom line

AI is intensifying online violence against women journalists, threatening press freedom and mental well-being, with experts urging urgent reforms to protect digital rights and ensure safer online spaces.

Africa CDC warns of cross-border spread of Mpox, Cholera

Africa CDC warns of cross-border spread of Mpox, Cholera

By
Ibe Wada
-
583 Nigerians Died Of Cholera In 2022 – NCDC

Key points

  • Africa CDC raises concern over shifting disease hotspots across borders.
  • Mpox cases concentrated in few countries but spreading through human movement.
  • Cholera deaths remain high despite a decline in overall cases.

Main story

The Africa Centres for Disease Control and Prevention has raised fresh concerns over the changing pattern of infectious disease outbreaks across the continent, warning that Mpox and cholera hotspots are increasingly spreading across national borders.

Speaking during the agency’s weekly outbreak briefing, Wazih N. Cho, an Intelligence and Data Analyst in the Division of Surveillance and Disease Intelligence, said recent data shows that disease transmission is no longer confined within single countries.

He noted that about 85 per cent of confirmed Mpox cases are concentrated in a few member states, including Madagascar, Guinea, Kenya and Liberia, with Madagascar remaining the most affected due to sustained human-to-human transmission.

Cho warned that cross-border movement of people, combined with weak monitoring systems, is driving the spread of infections across regions.

The issues

Health experts say weak cross-border surveillance, inadequate public health infrastructure, and high population mobility are enabling the spread of infectious diseases.

Poor water, sanitation and hygiene conditions are also sustaining cholera outbreaks, particularly in vulnerable countries.

Additionally, limited coordination among countries continues to hamper effective containment efforts.

What’s being said

Cho said recent cases detected in Mauritius linked to travel underscore the need for stronger regional surveillance and rapid response mechanisms.

“The transmission is increasingly being driven by a few member states, but what is more concerning is the cross-border movement of cases,” he said.

On cholera, he noted that while overall cases have declined, the fatality rate remains above the global target of one per cent, currently at about 2.2 per cent.

He identified the Democratic Republic of Congo and Mozambique as the hardest-hit countries, contributing the majority of cases and deaths.

He also raised concerns over emerging outbreaks in Angola, Burundi, and the Republic of Congo, attributing the trend to poor access to clean water and sanitation.

“In some areas, we are seeing outbreaks shift to new locations even after interventions,” he said.

What’s next

Africa CDC is intensifying cross-border surveillance, vaccine deployment, and emergency coordination among member states.

More than five million doses of Mpox vaccines have already been distributed to 19 countries, with vaccination ongoing in at least 15.

The agency is also urging governments to invest in long-term public health systems, particularly in water, sanitation, and disease monitoring.

Bottom line

Shifting disease hotspots and cross-border transmission are complicating Africa’s public health response, with experts warning that stronger regional coordination and infrastructure investment are critical to preventing future outbreaks.

NEC adopts 112 as Nigeria’s national emergency number

NEC adopts 112 as Nigeria’s national emergency number

By
Ibe Wada
-

Key points

  • NEC approves 112 as unified national emergency number.
  • Multi-agency committee set up to coordinate implementation.
  • FG aims to eliminate delays and improve rapid emergency response.

Main story

The National Economic Council (NEC) has approved the adoption of 112 as Nigeria’s national emergency number to streamline response systems and improve coordination across relevant agencies.

The decision was reached at the 157th NEC meeting held virtually and chaired by Vice President Kashim Shettima.

Council also approved the establishment of a multi-agency implementation committee to be coordinated by the Office of the Vice President in collaboration with the Nigerian Communications Commission (NCC).

The initiative is aimed at strengthening Nigeria’s emergency response framework by creating a single, accessible number for citizens during crises.

The issues

Nigeria’s emergency response system has long been hindered by fragmentation, multiple contact points, and bureaucratic delays, often affecting timely intervention during emergencies such as accidents, disasters, and security incidents.

The absence of a unified system has also contributed to confusion among citizens seeking urgent assistance.

What’s being said

Shettima said the introduction of 112 is critical to ensuring rapid response and saving lives.

“This is not only a technical reform. It is a test of the state’s humanity,” he said.

“In moments of fire, accident, robbery, medical emergency, flood, violence, or panic, citizens do not need bureaucracy. They need response.”

He emphasised that the goal is to provide Nigerians with one number to call, one system to trust, and a coordinated chain of action capable of delivering swift assistance.

What’s next

The newly approved committee is expected to drive the nationwide rollout of the 112 emergency number, ensuring integration across security, health, and disaster response agencies.

Efforts will also focus on public awareness, infrastructure development, and inter-agency coordination to guarantee efficiency.

Bottom line

By adopting a single emergency number, Nigeria aims to eliminate response delays, improve coordination, and provide citizens with faster access to life-saving services.

Supreme Court restores ADC leadership under David Mark

Supreme Court restores ADC leadership under David Mark

By
Ibe Wada
-

Key points

  • Supreme Court reinstates leadership of the African Democratic Congress (ADC).
  • Judgment affirms rule of law and internal party democracy.
  • ADC pledges commitment to unity and credible political alternatives.

Main story

The Supreme Court of Nigeria has restored the leadership of the African Democratic Congress (ADC) under David Mark, in a ruling described as a significant boost to democratic governance.

The court’s decision reaffirms the rule of law and underscores the importance of due process in resolving internal disputes among parties.

The ADC, reacting to the judgment, described it as a victory for democracy and a validation of lawful leadership within the party.

The issues

The leadership tussle within the ADC had raised concerns over internal party democracy and the role of the judiciary in resolving political disputes.

The ruling underscores the significance of legal frameworks in maintaining order and integrity within political institutions.

What’s being said

The party stated that the judgment reinforces democratic values and strengthens confidence in Nigeria’s judicial system.

It also reaffirmed its commitment to unity, internal democracy, and offering Nigerians a credible, people-focused political alternative.

“Hope is alive. Democracy stands. Nigeria moves forward,” the party stated.

What’s next

With the leadership dispute resolved, the ADC is expected to consolidate its internal structures and reposition itself ahead of future political engagements.

Bottom line

The Supreme Court ruling restores stability within the ADC, reinforcing the rule of law and strengthening democratic processes in Nigeria.

Reps Order DISCOs to Refund N55.42bn NMMP Loan Within Seven Months

Reps Order DISCOs to Refund N55.42bn NMMP Loan Within Seven Months

By
Boluwatife Oshadiya
-
NASS Has Approved $800m Loan Request - Reps Member

By Boluwatife Oshadiya

Key Points

  • House of Representatives orders DISCOs to refund N55.42 billion
  • Funds linked to National Mass Metering Programme (NMMP)
  • Lawmakers cite failure to meet programme objectives
  • CBN and NERC to establish recovery committee

Main Story

The House of Representatives has directed 11 electricity distribution companies (DISCOs) to refund N55.42 billion disbursed under the National Mass Metering Programme (NMMP), citing inefficiencies and failure to meet expected targets.

The resolution followed the adoption of a report presented on Thursday by the House Committee on Public Assets.

Committee Chairman Uchenna Okonkwo stated that the investigation was conducted in line with the committee’s oversight mandate and revealed significant gaps in the implementation of the metering initiative.

The NMMP, introduced in 2020, was designed to bridge Nigeria’s metering deficit, eliminate estimated billing, reduce commercial losses, and promote local manufacturing of meters.

According to Okonkwo, a total of N59.28 billion was earmarked for the programme, structured as a loan with a nine per cent interest rate—six per cent allocated to financiers and three per cent to the Central Bank of Nigeria (CBN).

However, findings showed that DISCOs received N55.42 billion, leaving N3.85 billion unaccounted for.

“The investigation revealed DISCOs received ₦55.42 billion, leaving ₦3.85 billion unaccounted for,” Okonkwo said.

Beneficiaries of the scheme include Abuja, Eko, Enugu, Ibadan, Ikeja, Jos, Kano, and Yola electricity distribution companies, among others.

What’s Being Said

The committee raised concerns over the programme’s overall impact, noting that it fell short of expectations in closing the metering gap and addressing billing inefficiencies.

Lawmakers also scrutinised the role of Meristem Wealth Management, which was granted a clause entitling it to 0.5 per cent of DISCO collections annually until 2030.

Okonkwo disclosed that the firm had already received N450 million, a development the committee described as questionable.

The committee has requested detailed documentation from the firm, including its operational structure and performance report under the NMMP.

What’s Next

The House has mandated the Central Bank of Nigeria and the Nigerian Electricity Regulatory Commission (NERC) to establish a loan recovery committee tasked with recovering the funds from beneficiary DISCOs before 2026.

The move signals increased legislative scrutiny of intervention funds and could reshape accountability standards in Nigeria’s power sector.

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FG approves N548.98bn reconstruction of Carter Bridge in Lagos

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Federal Government approves full reconstruction of Carter Bridge
  • Project valued at N548.98 billion after structural failure assessment
  • Bridge to be expanded with improved traffic and navigation features
  • Additional N24.89 billion approved for Third Mainland Bridge repairs

Main Story

The Federal Government has approved the demolition and reconstruction of the Carter Bridge in Lagos at a cost of N548.98 billion, following technical evaluations that deemed the structure unsafe and beyond repair.

Minister of Works, Dave Umahi, disclosed the development on Thursday after the Federal Executive Council (FEC) meeting chaired by President Bola Tinubu at the Presidential Villa in Abuja.

According to the minister, multiple structural assessments conducted in 2013, 2019, and under the current administration confirmed that the bridge had suffered extensive deterioration.

“We convocated a stakeholders’ engagement, and all the experts agreed the bridge must be completely demolished and rebuilt,” Umahi said.

He explained that critical structural components, including underwater piles and pile caps, had weakened significantly over time, making reconstruction the only viable long-term solution.

The contract for the project was awarded to China Civil Engineering Construction Corporation (CCCC) following a competitive bidding process involving several major construction firms.

Umahi stated that due process was strictly followed in selecting the contractor.

The redesigned Carter Bridge will be expanded from its current 1.525 kilometres to 1.93 kilometres and will include a flyover ramp aimed at easing traffic congestion.

“The total contract sum approved is N548.98 billion,” the minister confirmed.

He added that the new structure would feature dual carriageways and improved navigational waterways, enhancing both road and maritime transportation efficiency in Lagos.

What’s Being Said

Infrastructure experts have long raised concerns about the structural integrity of major bridges in Lagos, citing heavy usage, aging components, and environmental factors such as corrosion.

The decision to fully reconstruct Carter Bridge reflects a broader push by the Federal Government to modernise critical transport infrastructure in Nigeria’s commercial hub.

What’s Next

In addition to the Carter Bridge project, the FEC also approved N24.89 billion for underwater rehabilitation works on the Third Mainland Bridge, with construction giant Julius Berger assigned to handle the project.

The combined interventions are expected to improve connectivity, reduce congestion, and enhance safety across Lagos’ transport network, though short-term disruptions during construction are anticipated.

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