Preparing For Nigeria’s Biggest Election

-

September 12, 2022

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.

Table of Contents

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.

Coleman Technical Industries Limited Quotes Additional Commercial Papers On FMDQ Exchange

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

By

Damilare Famuyiwa

-

June 15, 2022

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.”

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.

FG Seeks Tax Compliance From TikTok, Google, Others

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

By

Damilare Famuyiwa

-

June 2, 2022

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

-

May 30, 2022

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.”

EXPLAINER: How Nigerian Creators Can Benefit From $8.2bn IP Market

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

By

-

May 14, 2022

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.

FBN Insurance Pays N16.1bn Damage Claims In 2021

#IWD2022: Is Nigeria Ready For A Female President?

By

-

March 8, 2022

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!

CDC/BII Partners FirstBank To Support Women And Small Business Owners With US$100 Million Credit Facility

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

By

-

December 31, 2021

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.”

Lai Lists 100 Achievements Under Buhari Administration In 2021

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

By

Victor Okeh

-

December 26, 2021

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.

Senate To Send 2022 Appropriation Bill To Buhari

“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

-

December 25, 2021

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.

Explosion Rocks Lagos Community As Power Transmission Towers Collapse

“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

-

December 22, 2021

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.

INEC Demands ₦305bn to Conduct 2023 General Election

NNPC Assures On Availability Of Petroleum Products During Yuletide

By

BWN

-

December 17, 2021

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.

AfDB Board Approves $170M For Investment In Nigeria’s Digital, Creative Start-ups

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

By

David Oputah

-

December 16, 2021

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.

Nigeria’s Total Public Debt Now ₦38.005Trn – DMO

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.”

Mediacraft Associates Congratulates Clara Okoro, Others, On BJAN Election

NCC Conducts Mock Session For 5G

By

-

December 11, 2021

"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.”

Crypto: ‘Safeguard The Stability Of Financial System’ – IMF

Fuel May Sell Above N340/litre – Marketers

By

Victor Okeh

-

December 1, 2021

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

-

September 1, 2021

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.

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.

Zenith Bank strengthens management with appointment of Kennedy Okwudili as Executive Director

By

-

March 25, 2026

KEY POINTS

Zenith Bank Plc has officially appointed Mr. Kennedy Okwudili as an Executive Director, effective May 1, 2026.
The bank announced the move via a corporate disclosure to the Nigerian Exchange (NGX) on Tuesday.
The appointment is rooted in Zenith Bank’s long-standing succession strategy of promoting proven leaders from within its internal ranks.
Okwudili brings over 25 years of multi-disciplinary banking experience, covering credit, treasury, compliance, and operations.

MAIN STORY

Zenith Bank Plc is reinforcing its top-tier management structure with the promotion of high-performing internal talent. In a strategic move announced on Tuesday, the bank named Mr. Kennedy Okwudili as its newest Executive Director.

This transition, which officially begins in May, aligns with the Tier-1 lender’s reputation for maintaining a stable leadership pipeline by “grooming leaders from within its system.”

Okwudili’s career trajectory is a testament to academic and professional rigor. An alumnus of the University of Maiduguri and Ahmadu Bello University, he has built a quarter-century of expertise across the most critical functions of modern banking.

His deep background in compliance and treasury is particularly relevant as the Nigerian banking sector navigates a high-interest rate environment and stricter regulatory oversight from the Central Bank of Nigeria (CBN).

THE ISSUE

The primary challenge for major Nigerian banks in 2026 is maintaining “Leadership Continuity” amidst a rapidly evolving financial landscape. As the CBN pushes for higher capital requirements and digital transformation, banks like Zenith are prioritizing “Internal Succession” to ensure that institutional knowledge isn’t lost during executive transitions.

By appointing a veteran like Okwudili, who is a Fellow of both ICAN and CIBN, Zenith Bank is hedging against the “External Hire Risk,” ensuring that its compliance and credit strategies remain seamless and risk-averse during a period of macroeconomic volatility.

WHAT’S BEING SAID

“The appointment aligned with [Zenith’s] tradition and succession strategy of grooming leaders from within its system,” the bank stated in its NGX disclosure.
“The development would further strengthen its executive management team,” the corporate statement added.
Market analysts noted that Okwudili’s triple threat of Accounting, Taxation, and Banking fellowships makes him a “technically fortified” addition to the board.

WHAT’S NEXT

Mr. Okwudili will formally assume his new responsibilities on May 1, 2026.
The bank will complete the final administrative filings with the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) to formalize the board seat.
Following the May 1 start date, Zenith is expected to announce any subsequent shifts in the departmental oversight of its Executive Directors.
Investors will be watching the bank’s Q2 2026 financial results for the first signals of the strengthened executive team’s impact on operational efficiency and compliance metrics.

BOTTOM LINE

The Bottom Line is that Zenith Bank is doubling down on its “Homegrown” excellence. At a time when the Nigerian banking industry is facing intense competition and regulatory pressure, appointing a 25-year veteran like Kennedy Okwudili is a signal of stability to the markets. It confirms that the bank’s future growth is being steered by those who deeply understand its DNA.

FG pushes education reform, seeks private sector funding support

Power supply to improve within two weeks, Adelabu says

By

-

March 25, 2026

By Boluwatife Oshadiya | March 25, 2026

Table of Contents

Key Points

Power Minister promises improved electricity supply within two weeks
Gas supply disruptions identified as primary cause of outages
Nigeria targets 6,000MW generation before end of 2026

Main Story

Nigeria’s Minister of Power, Adebayo Adelabu, has assured citizens that electricity supply will improve within two weeks, citing ongoing efforts to resolve gas supply disruptions affecting power generation.

Speaking in Abuja on Tuesday, Adelabu said repairs on critical gas pipelines, particularly those linked to major suppliers, are nearing completion and will restore generation capacity across the grid.

He attributed the current power shortages to inadequate gas supply, noting that approximately 75% of Nigeria’s power plants depend on gas-fired generation, leaving the system vulnerable to supply shocks.

The minister apologised to Nigerians for the ongoing outages, acknowledging the impact on households, businesses, and institutions, particularly during the peak dry season when energy demand rises significantly.

Adelabu added that improved coordination between the government and gas suppliers, alongside timely payments, would incentivise increased supply to power generation companies. He also disclosed that the sector has attracted over $3 billion in private investment in the past two years.

What’s Being Said

“Within two weeks, we should start seeing improvements in power supply as gas line repairs are completed,” said Adebayo Adelabu, Minister of Power.

“Timely payments and enforcement of domestic supply obligations will stabilise generation,” he added.

What’s Next

Completion of gas pipeline repairs is expected within two weeks
Government to enforce domestic gas supply obligations for power plants
Nigeria aims to reach 6,000MW generation capacity before end-2026

The Bottom Line: Nigeria’s power recovery hinges on resolving gas supply constraints—without structural fixes, short-term improvements may prove difficult to sustain.

Nigerian Shippers’ Council orders MSC to suspend new shipping tariffs

Airtel Africa drives NGX rebound as investors gain ₦1.09tn

By

-

March 25, 2026

Stock Exchange Closes Trading Week With N30bn Gain

By Boluwatife Oshadiya| March 25, 2026

Table of Contents

Key Points

Airtel Africa jumps 10% to lead market rally on NGX
Investors recover ₦1.09 trillion after early-week selloffs
NGX All-Share Index rises 0.85% to 200,705.88 points

Main Story

The Nigerian Exchange (NGX) rebounded on Tuesday as Airtel Africa led a broad-based rally, lifting investors’ wealth by ₦1.09 trillion following sharp losses recorded at the start of the week.

Market data shows the NGX All-Share Index (ASI) climbed 0.85% to close at 200,705.88 points, pushing the year-to-date return to 28.98%. Market capitalisation rose correspondingly to ₦128.84 trillion, reflecting renewed buying interest across key sectors.

Airtel Africa recorded a 10% gain, alongside other top advancers including Conhall Plc, John Holt, Legend Internet, and Zichis. Market breadth remained positive at 1.6x, with 36 gainers outperforming 23 decliners. On the downside, NPF Microfinance Bank, Royal Exchange, CWG, Veritas Kapital, and UPDC posted the steepest losses.

Trading activity strengthened significantly, with total volume rising to 1.29 billion shares valued at ₦65.33 billion. However, the number of deals dropped to 89,949 from 139,458 recorded in the previous session. GTCO emerged as the most actively traded stock, accounting for 184.38 million shares worth ₦19.39 billion.

Sectoral performance was largely positive, with insurance, consumer goods, banking, and commodity indices closing higher, reflecting renewed investor confidence amid bargain hunting.

What’s Being Said

“The rebound reflects bargain hunting after early-week selloffs, particularly in fundamentally strong stocks,” said a Lagos-based equity analyst.

“Airtel Africa’s rally signals continued investor confidence in telecom fundamentals despite broader market volatility,” noted an institutional trader at a Tier-1 brokerage firm.

What’s Next

Investors are expected to monitor corporate earnings releases for Q1 2026
Market participants will track foreign portfolio inflows for liquidity signals
The next trading sessions will test the sustainability of the current rally

The Bottom Line: The NGX rebound underscores the market’s resilience, but sustained gains will depend on earnings strength and continued institutional participation.

UK Bond Yields Surge Past 5% as Energy Crisis Deepens

Naira gains at official market as reserves extend decline

By

-

March 25, 2026

CBN Clarifies Rumours On New Naira Notes

By Boluwatife Oshadiya | March 25, 2026

Table of Contents

Key Points

Naira appreciates to ₦1,382.63/$ at official window
Parallel market weakens to ₦1,400/$
External reserves fall to $49.61 billion after sustained outflows

Main Story

The naira strengthened against the US dollar at the official foreign exchange market on Tuesday, supported by improved FX supply, even as Nigeria’s external reserves extended their downward trend.

Data from the Central Bank showed the currency appreciated by 0.42% to ₦1,382.63 per dollar at the Nigerian Foreign Exchange Market (NFEM), driven by increased inflows from foreign portfolio investors and non-bank corporates.

In contrast, the parallel market reflected continued pressure, with the naira weakening to approximately ₦1,400 per dollar, highlighting persistent liquidity fragmentation between official and informal segments.

Meanwhile, Nigeria’s gross external reserves declined for the sixth consecutive session, falling to $49.606 billion. Analysts attribute the decline to sustained outflows despite elevated global oil prices, which typically support FX buffers for oil-exporting countries.

Global market sentiment remains volatile amid escalating geopolitical tensions in the Middle East. Oil prices rebounded following renewed hostilities involving Iran and Israel, while uncertainty surrounding US diplomatic efforts has kept investors cautious.

Currency markets globally also reflected mixed movements, with the euro trading near recent highs against the dollar, supported by shifting risk sentiment and ongoing geopolitical developments.

What’s Being Said

“The naira’s appreciation reflects improved short-term FX liquidity, but underlying structural pressures remain,” said a currency analyst at a Lagos-based investment firm.

“The divergence between official and parallel market rates shows that supply constraints are still unresolved,” noted a financial markets strategist.

What’s Next

The Central Bank is expected to sustain FX interventions to stabilise the naira
Investors will monitor external reserves for signals on currency sustainability
Global oil price movements will remain a key driver of FX inflows

The Bottom Line: While short-term FX inflows are supporting the naira, declining reserves and structural imbalances continue to pose downside risks.

UK Bond Yields Surge Past 5% as Energy Crisis Deepens

FG pushes education reform, seeks private sector funding support

By

-

March 25, 2026

By Boluwatife Oshadiya | March 25, 2026

Table of Contents

Key Points

Federal Government advances Nigeria Education Sector Renewal Initiative (NESRI) to improve access, quality, and financing
Education Minister Tunji Alausa outlines six reform priorities including STEM and vocational training expansion
Nigeria eyes up to $500 million support through Global Partnership for Education matching fund mechanism

Main Story

The Federal Government has reaffirmed its commitment to overhauling Nigeria’s education system through the Nigeria Education Sector Renewal Initiative (NESRI), with a renewed call for private sector investment to scale impact and funding.

Speaking at a high-level stakeholder engagement in Lagos, Minister of Education Tunji Alausa said the reform programme is designed to reposition Nigeria’s education sector for global competitiveness, while addressing systemic challenges in access, quality, governance, and financing.

Alausa outlined six strategic priorities under NESRI, including the expansion of Technical and Vocational Education and Training (TVET), promotion of Science, Technology, Engineering and Mathematics (STEM), and aggressive reduction of out-of-school children. He added that reforms will also focus on strengthening education data systems, digital infrastructure, and institutional governance through collaboration with subnational governments, private enterprises, and civil society organisations.

Central to the funding strategy is Nigeria’s partnership with the Global Partnership for Education (GPE), which offers a matching fund model. Under this structure, every dollar raised by private sector stakeholders is matched one-for-one by GPE, effectively doubling available financing for education interventions.

“Every dollar mobilised by the private sector is matched one-for-one by GPE, doubling available resources for impactful education interventions,” Alausa said.

He noted that Nigeria could unlock up to $500 million in funding, depending on outcomes from GPE’s Replenishment Summit scheduled for June 2026 in Rome, which aims to raise $5 billion globally.

The minister disclosed that more than one million out-of-school children have already been reintegrated into classrooms through targeted investments in infrastructure, teacher development, and digital tracking platforms.

Minister of State for Education Suwaiba Ahmad, who convened the CEO Breakfast session, emphasised the need for shared responsibility in achieving sustainable education reform.

“No nation can achieve sustainable growth without a strong, inclusive and forward-looking education system,” Ahmad said.

She added that NESRI aligns with the broader human capital development agenda of President Bola Tinubu, noting early signs of progress including increased private sector interest and policy momentum.

What’s Being Said

“This presents a major opportunity for the private sector to play a catalytic role in advancing education and unlocking resources at scale,” said Tunji Alausa, Minister of Education.

“We are deepening engagement to encourage innovative partnerships and collaborative solutions to accelerate sector transformation,” said Suwaiba Ahmad, Minister of State for Education.

“We are creating conditions for smarter investment by ensuring accountability and measurable impact across Nigeria’s education system,” said Jim Ovia, Chairman of Zenith Bank.

What’s Next

GPE Replenishment Summit scheduled for June 2026 in Rome will determine Nigeria’s funding envelope
Federal Government to scale private sector engagement through structured financing frameworks under NESRI
Continued rollout of digital tracking systems and teacher development programmes to sustain gains in school enrolment

The Bottom Line: Nigeria’s education reform strategy is increasingly shifting toward blended financing, where public policy meets private capital. The success of NESRI will depend less on policy articulation and more on execution—particularly the government’s ability to attract credible private investment and deliver measurable outcomes at scale.

Denmark heads to polls as Frederiksen seeks third term amid Greenland tensions

CBN recapitalisation drives N4.61tn capital into nigerian banks

By

-

March 25, 2026

By Boluwatife Oshadiya | March 25, 2026

Table of Contents

Key Points

Nigerian banks attract ₦4.61tn in fresh capital under CBN recapitalisation programme
Nearly 27% of inflows come from foreign investors, signalling renewed external confidence
CBN tightens governance and credit discipline as reforms reshape banking sector

Main Story

Nigerian banks have attracted a total of ₦4.61tn in new capital following the Central Bank of Nigeria’s (CBN) ongoing recapitalisation programme, underscoring growing investor confidence in the country’s financial system amid sweeping economic reforms.

The disclosure was made in a statement issued by the apex bank on Tuesday during the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held at its headquarters in Abuja.

According to the CBN, the capital inflow followed the launch of the Banking Sector Recapitalisation Programme in 2024, a pre-emptive policy designed to strengthen banks’ resilience against macroeconomic shocks, including exchange rate volatility and subsidy removal impacts.

The CBN Governor, Olayemi Cardoso, noted that the initiative had already begun yielding measurable outcomes, with Nigerian banks not only raising significant capital but also expanding their operational footprint across African markets. Nearly 27 per cent of the total capital raised originated from foreign investors, reflecting improved external sentiment toward Nigeria’s banking sector.

The figure represents an increase of approximately ₦560bn compared to the ₦4.05tn earlier verified and approved by the CBN in February 2026, ahead of the March 31 recapitalisation deadline.

Beyond capital inflows, the apex bank highlighted ongoing regulatory reforms aimed at reinforcing financial stability, including stricter corporate governance standards and enhanced supervisory oversight.

What’s Being Said

“This proactive policy inspired similar reforms across Africa, and despite ongoing economic adjustments, Nigerian banks have demonstrated resilience by attracting ₦4.61tn in new capital,” said Olayemi Cardoso, Governor, Central Bank of Nigeria.

“Our stance on corporate governance is unequivocal: zero tolerance for violations. We have reinforced accountability and elevated compliance standards across the sector,” Cardoso added.

“We have implemented restrictions on banking services for non-performing large-ticket obligors, underscoring our commitment to credit discipline and financial integrity,” he said.

An independent financial analyst, Kunle Adeyemi, noted: “The scale of capital inflow suggests that investors are beginning to price in long-term stability, but sustainability will depend on policy consistency and macroeconomic stability.”

What’s Next

The CBN’s March 31, 2026 recapitalisation deadline is expected to trigger final compliance disclosures from banks
Regulators across Africa may adopt similar recapitalisation frameworks, following Nigeria’s model
Further policy measures are anticipated as the CBN balances fintech innovation with financial system stability

The Bottom Line

The Bottom Line: Nigeria’s banking recapitalisation drive is emerging as a critical anchor for financial system stability, restoring investor confidence at a time of economic transition. However, sustaining this momentum will depend on consistent regulatory enforcement and broader macroeconomic stability.

Euro falls toward $1.15 as middle east crisis intensifies

Lagos faces worsening blackouts as Ikeja Electric cites National Grid collapse

By

-

March 24, 2026

KEY POINTS

Ikeja Electric (IE) has officially announced a reduction in power supply across Lagos due to a significant nationwide drop in electricity generation.
Spokesman Kingsley Okotie attributed the crisis to a shortage of gas supply to thermal power plants, which are Nigeria’s primary source of energy.
The shortfall has forced the distribution company to implement intermittent outages and load shedding across its entire network.
Small business owners and residents report soaring operating costs as they pivot to expensive petrol and diesel generators to stay afloat.

MAIN STORY

Residents and businesses under the Ikeja Electric network are grappling with a severe downturn in power availability following a breakdown in the national energy value chain. Kingsley Okotie, Head of Corporate Communications for IE, confirmed on Tuesday that the “nationwide drop” has drastically reduced the energy allocation available to Lagos.

The root cause is a limited supply of gas to the country’s thermal stations, which has left the national grid unable to meet baseline demand.

The impact on the ground has been immediate and costly. From frozen food traders in Lagos markets to industrial welders, the lack of public power has shifted the burden of generation back onto the consumer.

With fuel prices already at historic highs, many small enterprises are reporting that their profits are being swallowed by generator maintenance and diesel costs. Civil servants have also noted that the blackout is compounding the discomfort of rising seasonal temperatures, leaving households reliant on rechargeable fans and stored water.

THE ISSUES

The current crisis highlights the “Thermal Dependency” of Nigeria’s energy sector. Because over 75% of the grid is powered by gas-fired plants, any disruption in gas pipelines or payment disputes with gas suppliers triggers an immediate national blackout.

This is further complicated by “Sectoral Debt,” where distribution companies (DisCos) struggle to pay generating companies (GenCos), who in turn cannot pay gas suppliers. For a city like Lagos—the nation’s economic engine—unreliable power acts as a “Growth Ceiling,” forcing businesses to operate at lower capacities or shut down entirely when the “grid-to-generator” price gap becomes unsustainable.

WHAT’S BEING SAID

“The ongoing reduction in electricity supply is largely due to a nationwide drop in power generation,” stated Kingsley Okotie, Ikeja Electric.
“We remain committed to distributing the available power as efficiently and equitably as possible,” Okotie added.
“Either way, I am losing,” noted Kemi Adebayo, summarizing the sentiment of Lagos small business owners.

WHAT’S NEXT

National Intervention: Efforts are reportedly underway at the ministerial level to resolve gas supply bottlenecks and stabilize thermal plant operations.
Load Shedding Schedules: Ikeja Electric is expected to release or update “equitable distribution” timetables to help businesses plan their generator usage.
Alternative Energy Pivot: Market observers expect a surge in demand for solar inverter systems (like those used in the 371 PHCs) as businesses look to decouple from the national grid.
Grid Stability Monitoring: Engineers at the National Control Centre (NCC) in Osogbo are working to prevent a total system collapse during this period of low frequency.

BOTTOM LINE

The Bottom Line is that Lagos is being throttled by a “Gas Gap.” Despite the “Renewed Hope” focus on infrastructure, the city’s reliance on a fragile, gas-dependent grid means that when the thermal plants run dry, the economy goes dark. Until Nigeria achieves a more diverse energy mix that includes large-scale renewables, businesses will continue to pay a “generator tax” that threatens their very survival.

NSE calls for gender equity in water management at 2026 World Water Day lecture

UNICEF, EU Support Helps Over 40,000 Malnourished Children in Yobe

By

Grace Johnson

-

March 24, 2026

Key Points

Over 40,000 malnourished children in Yobe State have received treatment through EU-funded programmes
UNICEF says the May–September lean season worsens child malnutrition each year
Ready-to-Use Therapeutic Food (RUTF) has improved recovery rates among affected children
306 health facilities now provide nutrition treatment services across the state
Despite progress, conflict, flooding, and food shortages remain major challenges

Main Story
More than 40,000 malnourished children in Yobe State have received life-saving treatment through nutrition programmes supported by the European Union, according to the United Nations Children’s Fund (UNICEF).

This was disclosed by UNICEF’s Malnutrition Manager, Joseph Senesie, during a media field visit and virtual dialogue held in Damaturu. He explained that the intervention has been especially critical during the annual lean season, which runs from May to September.

The lean season is a period when food supplies are often limited, making children more vulnerable to acute malnutrition. During this time, families struggle to meet their nutritional needs, leading to a rise in severe health conditions among children.

Senesie, however, expressed optimism about the outlook for 2026. He noted that the state may avoid the high levels of malnutrition seen in previous years, thanks to sustained humanitarian support from the European Union.

A key part of this success has been the availability of Ready-to-Use Therapeutic Food (RUTF). This specially formulated food is used to treat children suffering from severe acute malnutrition. According to Senesie, children who begin treatment with RUTF often recover quickly and return to healthy living conditions.

He also highlighted the importance of collaboration between UNICEF, government agencies, and other partners. This joint effort has strengthened the overall response to malnutrition in the state.

The Issues
Malnutrition remains a serious public health challenge in Yobe State and across many parts of Nigeria. Several factors contribute to this problem, including food shortages, disease outbreaks, and displacement caused by conflict.

Large numbers of people have been displaced from their homes, limiting access to food and healthcare services. At the same time, flooding and economic hardship have worsened food insecurity, leaving many households vulnerable.

Another challenge is the strain on healthcare systems. Without proper resources and infrastructure, it becomes difficult to detect and treat malnutrition early, increasing the risk of severe cases.

What’s Being Said

According to Dr Babagana Machina, Executive Secretary of the Yobe State Primary Health Care Board, these conditions have made it difficult for many families to provide adequate nutrition for their children.

Health officials say the EU-funded intervention has made a significant difference in addressing these challenges.

Dr Machina noted that the support has ensured a steady supply of essential treatment materials, including RUTF and therapeutic milk. He added that 306 health facilities across the state are now equipped to provide Outpatient Therapeutic Programme (OTP) services.

These services allow children with severe malnutrition to receive treatment without being admitted to hospitals, making care more accessible for families.

Machina also highlighted improvements in community-based screening and data systems. According to him, these advancements have helped health workers identify malnutrition cases early and respond more quickly.

Meanwhile, the State Nutrition Officer, Hajiya Hadiza Adamu, commended UNICEF and the European Union for their continued support. She noted that their contributions have strengthened nutrition programmes and improved access to treatment across the state.

Adamu shared data showing that malnutrition rates in Yobe dropped to about eight percent in 2022 but later increased to 10.9 percent in 2023. This rise placed the state in Phase Three of the Integrated Food Security Phase Classification (IPC), indicating a serious situation.

What’s Next
Despite the challenges, Yobe State is working towards improving its nutrition status. According to Adamu, the goal is to reduce malnutrition levels and move the state to Phase Two classification by the end of 2026.

To achieve this, the government and its partners plan to continue expanding nutrition services and strengthening existing programmes.

Currently, the state has:

306 Outpatient Therapeutic Programme (OTP) sites
120 supplementary feeding centres
Stabilisation facilities for severe cases

These facilities are expected to play a key role in improving treatment access and recovery rates.

However, experts stress that more needs to be done. Continuous investment, stronger partnerships, and expanded interventions will be necessary to sustain progress and reach more vulnerable communities.

Bottom Line
The support from UNICEF and the European Union is making a real impact in the fight against child malnutrition in Yobe State. Thousands of children have already received life-saving treatment, and more are expected to benefit as programmes expand.

However, the fight is far from over. Ongoing challenges like conflict, food insecurity, and climate-related issues continue to threaten progress.

Sustained efforts, stronger systems, and long-term commitment will be crucial to ensuring that every child has access to proper nutrition and a healthy future.

CPPE slams proposed sugar tax increase as “ill-conceived” and counterproductive

By

-

March 24, 2026

KEY POINTS

The Centre for the Promotion of Private Enterprise (CPPE) has officially opposed calls for additional taxation on Sugar-Sweetened Beverages (SSBs).
CPPE Founder Dr. Muda Yusuf described the proposal as poorly timed, citing the “fragile recovery” of the Nigerian economy and record-high energy costs.
The beverage industry has already seen prices rise by over 50% in two years, leading to a significant decline in sales volumes and consumer purchasing power.
Yusuf argued that the SSB sector is “energy-intensive” and that further taxes would trigger production cuts, firm closures, and widespread job losses.

MAIN STORY

The Centre for the Promotion of Private Enterprise (CPPE) issued a strong rebuttal on Tuesday to recent advocacy for increased taxes on sugar-sweetened beverages. Dr. Muda Yusuf, speaking in Lagos, argued that the proposal by Corporate Accountability and Public Participation Africa (CAPPA) directly contradicts the Federal Government’s current tax reform agenda.

Yusuf emphasized that the manufacturing sector—particularly the food and beverage segment—is already grappling with macroeconomic pressures and a “challenging” operating environment characterized by high distribution costs.

Yusuf highlighted the technical nature of the SSB industry, noting that processes such as pasteurization, carbonation, and water treatment are heavily dependent on stable power. With energy prices surging due to global volatility, adding a fiscal burden would likely force small and medium-scale firms to shut down.

While acknowledging the rise in non-communicable diseases like diabetes, the CPPE maintained that a sugar tax is not a comprehensive health solution. Instead, the center advocated for increased public health education and improved access to preventive healthcare rather than sector-specific punitive taxes.

THE ISSUES

The primary conflict is the “Health Revenue vs. Economic Survival” debate. Health advocates argue that SSB taxes reduce sugar consumption and generate revenue for healthcare. However, the CPPE argues that in a high-inflation environment where the “play-to-win” culture of firms is already strained, this tax acts as an “Investment Deterrent.”

For a sector that is a major employer and supports a vast value chain—from agriculture to retail—the risk of “policy inconsistency” could signal to investors that Nigeria is not a stable environment for long-term manufacturing capital.

WHAT’S NEXT

The National Assembly is expected to weigh the CPPE’s position against the health-based arguments presented by advocacy groups in upcoming budget hearings.
Manufacturers may release their own impact assessment reports to show the correlation between previous tax hikes and workforce reductions.
Economic analysts will look for a response from the Presidential Committee on Tax Reforms to see if the SSB tax aligns with the goal of “reducing the burden on businesses.”
Public health groups are likely to intensify their campaign, using the “Water and Gender” or “World Water Day” momentum to link clean water access to reduced soda dependency.

WHAT’S BEING SAID

“Imposing new taxes on the manufacturing sector—particularly an energy-intensive segment—would be counterproductive,” stated Dr. Muda Yusuf, CPPE.
“Beverage prices have risen by over 50 per cent in the past two years, while sales volumes have declined,” Yusuf added.
“The focus should be on easing pressures on businesses rather than introducing additional fiscal burdens,” the CPPE Founder concluded.

BOTTOM LINE

The Bottom Line is that the CPPE is treating the sugar tax as a “Jobs Killer,” not a “Life Saver.” By framing the SSB industry as a critical pillar of Nigeria’s industrial ecosystem, Dr. Muda Yusuf is warning the government that the short-term revenue from a sugar tax isn’t worth the long-term cost of a shuttered manufacturing plant or a thousand lost jobs.

INEC presents draft 2026 party regulations ahead of 2027 Elections

NEPC targets informal mining to boost Nigeria’s solid mineral export earnings

By

-

March 24, 2026

KEY POINTS

The Nigerian Export Promotion Council (NEPC) states that current solid mineral contributions to export earnings do not reflect the sector’s actual wealth.
Executive Director Mrs. Nonye Ayeni highlighted that “informality” remains the primary inhibiting factor preventing the sector from reaching its potential.
During a workshop in Calabar, the NEPC identified critical minerals such as lithium, zinc, tin, and barite as key drivers for non-oil revenue growth.
The Cross River State Government urged illegal miners to formalize their operations, assuring them that the focus is on development rather than prosecution.

MAIN STORY

The Nigerian Export Promotion Council (NEPC) has launched a strategic push to formalize the solid minerals sector, asserting that the country’s vast mineral wealth has yet to translate into significant foreign exchange earnings.

Speaking at a specialized workshop in Calabar on Tuesday, Executive Director Nonye Ayeni—represented by Dr. Damian Omorogbe—emphasized that Nigeria is “endowed with an abundance” of minerals lying untapped beneath the soil. The workshop, focused on Cross River State’s potential, aimed to bridge the gap between extraction and the international market by addressing systemic challenges in the export value chain.

According to the NEPC, the journey to the global market is currently hindered by a lack of understanding regarding export procedures, documentation, and international standards. This knowledge gap often leads to financial losses or total deterrence of potential exporters.

Complementing this view, Dr. Abigail Duke, Cross River’s Commissioner for Commerce and Industry, noted that many miners avoid government enlightenment programs due to the sector’s high rate of illegal activity. She appealed to miners to submit to formal initiatives, clarifying that the government seeks to harness the sector’s potential for national betterment rather than pursuing punitive measures.

THE ISSUES

The core challenge in Nigeria’s mining sector is “The Informality Trap.” While minerals like lithium are in high global demand for battery technology, the majority of extraction is handled by informal or illegal miners who bypass official export channels.

This results in significant “revenue leakage,” where minerals are smuggled out without benefitting the national treasury. Furthermore, the “Standards Gap” remains a barrier; without proper processing and adherence to international quality certifications (SGS, ISO, etc.), Nigerian minerals often fetch lower prices on the global market or face rejection at international ports.

WHAT’S BEING SAID

“The current contributions from the solid minerals sector are not reflective of the wealth in the sector,” stated Nonye Ayeni, ED of NEPC.
“The journey from extraction to the international market is fraught with challenges,” Ayeni added.
“We know the sector is riddled with illegal miners, but the government is not pursuing anybody… we are looking for a better way,” noted Dr. Abigail Duke.

WHAT’S NEXT

The NEPC is expected to conduct a series of “clinic sessions” to help miners in Cross River State complete their export registration and documentation.
The Federal Ministry of Solid Minerals may introduce new incentives for informal miners to register as cooperatives to access government-backed financing.
A Mineral Processing Hub is being discussed for Calabar to ensure that minerals are “value-added” (cleaned or refined) before they leave the country.
Market observers are watching for an increase in lithium export volume reports in the Q3 2026 trade data as a result of these formalization efforts.

BOTTOM LINE

The Bottom Line is that Nigeria is sitting on a goldmine of non-oil revenue, but it is currently unrecorded. By moving the solid minerals sector from the “informal” to the “formal” column, the NEPC and Cross River State are attempting to turn raw earth into a structured economic engine. Success will depend on whether the government can convince “shadow miners” that the benefits of legal export outweigh the risks of staying in the dark.

MSC confirms temporary suspension of new tariffs following NSC directive

INEC to finalise Political Party regulations ahead of 2027 Elections

By

-

March 24, 2026

March 18: INEC, NSA Urge Nigerians To Shun Electoral Violence

By Boluwatife Oshadiya | March 24, 2026

Table of Contents

Key Points

INEC moves to finalise 2026 Political Parties Regulations after stakeholder consultations
IPAC reiterates call for Electoral Offences Commission to curb vote buying
Commission says stakeholder input will shape final rules before 2027 elections

Main Story

The Independent National Electoral Commission (INEC) says it will incorporate stakeholder feedback into the final version of its Regulations and Guidelines for Political Parties, 2026, ahead of Nigeria’s 2027 general elections, following a high-level consultative meeting with party leaders.

The meeting, which brought together officials of registered political parties and electoral stakeholders, focused on strengthening compliance, internal democracy, and enforcement mechanisms within Nigeria’s political party system. INEC Chairman’s representative at the session, Prof. Sadiq Amupitan, said the Commission would carefully review all submissions before releasing the final document.

The new regulations are expected to address recurring concerns around party financing, candidate selection processes, and adherence to electoral timelines—issues that have historically triggered disputes and litigation in Nigeria’s electoral cycle.

Chairman of the Inter-Party Advisory Council (IPAC), Dr. Yusuf Dantalle, used the platform to restate the council’s longstanding demand for the establishment of an Electoral Offences Commission, arguing that such a body is critical to tackling vote buying and other electoral violations.

INEC has faced increasing pressure from civil society and election observers to tighten enforcement frameworks following reports of widespread malpractice during recent elections, including inducement of voters and non-compliance with campaign finance rules.

What’s Being Said

“The establishment of an Electoral Offences Commission remains critical to strengthening accountability in our electoral system. While these new regulations are important, enforcement must be institutionalised,” said Yusuf Dantalle, Chairman, Inter-Party Advisory Council.

“This is precisely why we convened this meeting. Your insights and experiences are invaluable in shaping a regulatory framework that works for all stakeholders,” said Sadiq Amupitan, INEC National Commissioner.

“Regulations alone are not enough—consistent enforcement and political will are what ultimately determine electoral credibility,” said Jide Ojo, Political Analyst and Election Observer.

What’s Next

INEC is expected to publish the final Regulations and Guidelines for Political Parties, 2026, in the coming months
Political parties will be required to align their internal processes with the new framework ahead of the 2027 elections
Ongoing advocacy for an Electoral Offences Commission may intensify at the National Assembly before the election cycle begins

The Bottom Line: INEC’s consultative approach signals a shift toward more inclusive electoral rule-making, but without an independent enforcement mechanism, longstanding issues like vote buying and party non-compliance may persist into the 2027 election cycle.

Euro falls toward $1.15 as middle east crisis intensifies

NSE calls for gender equity in water management at 2026 World Water Day lecture

By

-

March 24, 2026

KEY POINTS

The Nigerian Society of Engineers (NSE), Ibadan Branch, has advocated for gender-responsive policies to bridge the gap in water accessibility for women and girls.
The call was made during the 6th Engineer Gbola Tokun Memorial World Water Day Lecture held in Ibadan on Tuesday, March 24, 2026.
The 2026 theme, “Water and Gender: Where Water Flows, Equality Grows,” highlights the systemic inequalities affecting women as primary water collectors.
Experts warned that underdeveloped infrastructure and climate change disproportionately increase the physical, economic, and safety risks for women in the Global South.

MAIN STORY

The Nigerian Society of Engineers (NSE) has marked the 2026 World Water Day with a strong appeal for equity in the planning and management of water resources. Speaking at a memorial lecture in Ibadan, NSE Branch Chairman Mr. Ayokunnu Ojedele emphasized that sustainable water governance must include women at the leadership and decision-making levels.

The event, held in collaboration with the Nigerian Institution of Environmental Engineers (NIEE), honored the late water and sewage expert, Engineer Gbola Tokun.

Keynote Speaker Dr. Tolulope Odunola, from the University of Cincinnati, noted that water resources are under “severe stress” due to climate change and inadequate infrastructure. She argued that restrictive social norms often result in water “flowing more toward men and boys,” leaving women to bear a heavier burden of domestic caregiving without adequate support.

The lecture served as a platform to challenge these systemic inequalities, urging both the government and private organizations to invest in robust, inclusive water systems that empower all members of society.

THE ISSUES

The primary challenge identified is the “Double Burden of Water Collection.” When women and girls spend significant hours trekking long distances for water, they lose critical time for education and economic advancement.

This creates a cycle of poverty and underdevelopment. Furthermore, the “Physical and Safety Risk” is acute; engineers pointed to high instances of fatigue, spinal injuries, and even the threat of sexual violence faced by women en route to water sources. To reshape this narrative, the engineering community must pivot from purely technical designs to inclusive policies that ensure “Water and Gender” remain linked in every infrastructure project.

WHAT’S BEING SAID

“The global water crisis is a heavier burden on women, as water appears to flow more toward men and boys in today’s world,” stated Dr. Tolulope Odunola.
“Women and girls who spend hours collecting water instead of learning or working bear a double burden,” noted Dr. Amarachi Alaka.
“Through innovative design and inclusive policies, we can ensure that access to water promotes equality,” added Dr. Kamarudeen Olaiya, NIEE.

WHAT’S NEXT

The NSE and NIEE are expected to submit a joint policy recommendation to the Oyo State government regarding gender-inclusive water management.
Following the lecture, a mentorship program for young female engineers in the environmental sector is planned to bridge the leadership gap.
Regional water agencies may conduct audits of rural water points to assess safety and accessibility for women and children.
Further collaborative lectures are anticipated to monitor the progress of “gender-sensitive” infrastructure projects in the South-West region.

BOTTOM LINE

The Bottom Line is that water access is a human rights and gender equality issue, not just an engineering one. By highlighting the physical and economic toll of water scarcity on women, the NSE is pushing for a shift in Nigerian infrastructure policy. For “Equality to Grow,” water must flow directly into communities, removing the dangerous and time-consuming burden from the shoulders of women and girls.

MSC confirms temporary suspension of new tariffs following NSC directive

MSC confirms temporary suspension of new tariffs following NSC directive

By

-

March 24, 2026

KEY POINTS

Mediterranean Shipping Company (MSC) has officially suspended its recently implemented tariff adjustment in Nigeria.
The decision follows a direct mandate from the Nigerian Shippers’ Council (NSC) issued on Monday to halt the price hike.
In a customer advisory titled “Temporary Suspension of New Tariff Implementation,” MSC confirmed that the previous pricing regime remains in force.
The suspension is temporary, pending the outcome of a stakeholders’ meeting to deliberate on the proposed charges and their impact on port users.

MAIN STORY

Mediterranean Shipping Company (MSC) has formally complied with the regulatory directive to freeze its new shipping tariffs. In a customer advisory released in Lagos on Tuesday, the shipping line informed its clients that the controversial price adjustments have been “temporarily suspended.”

This move follows intense pressure from the Nigerian Shippers’ Council (NSC), which had ordered the firm to maintain its existing rates until a formal review process could be completed.

The company stated that the tariff regime applicable prior to the recent increase will remain the standard until further notice. MSC emphasized its commitment to regulatory compliance and transparency, promising to provide prompt updates once the NSC issues a “definitive position.”

The News Agency of Nigeria (NAN) reports that the regulator’s intervention is specifically aimed at protecting port users from unilateral cost escalations while broader economic consultations are ongoing.

THE ISSUES

The primary friction point is the “Regulatory Veto” exercised by the Shippers’ Council. While international shipping lines often adjust tariffs to account for global operational risks—such as the current Middle East instability—the NSC serves as a protective buffer for the Nigerian economy. By forcing this suspension, the regulator is preventing a “cost-push” inflationary spike in the maritime sector.

For MSC, the challenge is balancing global headquarters’ pricing mandates with the localized requirements of the Nigerian market. The upcoming stakeholders’ meeting will be the critical arena for determining whether the proposed increases are justified by actual operational overheads or if they represent an undue burden on local importers.

WHAT’S NEXT

The Nigerian Shippers’ Council is expected to announce the date for the stakeholders’ meeting within the coming days.
Port users and freight forwarders are likely to present data during the meeting on how the proposed tariffs would affect the landing cost of essential goods.
MSC’s legal and commercial teams will provide the regulator with a breakdown of the costs driving the need for a tariff adjustment.
A final directive will be issued by the NSC following the conclusion of these deliberations, which will then become the new “definitive position” for the shipping line.

WHAT’S BEING SAID

“The tariff regime applicable prior to the recent increase will remain in force until further notice,” stated MSC in its customer advisory.
“We remain fully committed to regulatory compliance, transparency, and protecting the interests of our customers,” the shipping line added.
“The NSC mandated the MSC to suspend the implementation of its newly introduced shipping tariff,” reported the News Agency of Nigeria (NAN).

BOTTOM LINE

The Bottom Line is that the Shippers’ Council has successfully hit the “Pause” button on port inflation. By compelling MSC to issue a formal advisory, the NSC has ensured that no new charges can be legally collected at Nigerian ports for the time being. This provides a vital breathing room for the maritime community as they prepare to debate the fairness of the proposed rates in the upcoming stakeholders’ forum.

OPay to build cybersecurity lab at University of Calabar to boost digital skills

INEC presents draft 2026 party regulations ahead of 2027 Elections

By

-

March 24, 2026

By Boluwatife Oshadiya | March 24, 2026

Table of Contents

Key Points

INEC unveils draft 2026 regulations to guide political party operations ahead of 2027 elections
Commission seeks stakeholder input, citing legal updates under Electoral Act 2026
Political parties raise concerns over primaries flexibility and membership registration timelines

Main Story

The Independent National Electoral Commission (INEC) has presented its draft Regulations and Guidelines for Political Parties, 2026 to party leaders, marking a critical step in preparations for Nigeria’s 2027 general elections.

The draft framework, unveiled at a consultative meeting in Abuja on Tuesday, reflects a comprehensive revision of the 2022 regulations, aligning them with provisions of the Electoral Act 2026 and evolving legal requirements governing party administration and election conduct.

INEC Chairman, Prof. Mahmood Yakubu, said the updated regulations were designed to strengthen electoral credibility and improve operational clarity across party activities. He noted that the Commission had undertaken a technical review process to address gaps identified in previous election cycles.

The proposed guidelines cover key areas including party registration and mergers, internal governance, conduct of primaries, campaign financing, and procedures for deregistration. They also introduce measurable benchmarks aimed at increasing participation among women, youth, and Persons with Disabilities (PWDs).

INEC is working within a compressed electoral calendar, with Presidential and National Assembly elections scheduled for January 16, 2027, and Governorship and State Assembly elections set for February 6, 2027. The Commission said the shortened timelines require more precise coordination between regulators and political actors.

A major provision highlighted in the draft relates to political finance, particularly under Section 93(2) of the Electoral Act 2026, which mandates INEC to determine spending limits in consultation with stakeholders. The Commission urged parties to review financial compliance clauses tied to primaries and campaign activities.

What’s Being Said

“We meet not merely as regulators and political actors, but as joint custodians of Nigeria’s democratic future. The integrity of elections begins long before polling day,” said Mahmood Yakubu, Chairman, INEC.

Dr. Yusuf Dantalle, National Chairman of the Inter-Party Advisory Council (IPAC), welcomed the consultative approach but called for adjustments to reflect operational realities within political parties.

“Flexibility in the conduct of party primaries is essential. These are internal processes that must be accommodated within a practical regulatory framework,” he said.

Dantalle also raised concerns about the feasibility of compiling comprehensive membership registers within tight timelines, urging INEC to balance inclusivity with accountability. He further called for clearer provisions on electronic transmission of election results to enhance transparency

What’s Next

INEC will collate feedback from political parties and stakeholders before finalising the 2026 regulations
Final guidelines are expected to be issued ahead of the official commencement of the 2027 election timetable
Political parties will begin aligning internal structures and processes with the new compliance requirements

The Bottom Line

The Bottom Line: INEC’s regulatory overhaul signals a shift toward tighter electoral governance and compliance ahead of 2027. However, the success of the framework will depend on how effectively it balances legal rigor with the operational realities of Nigeria’s political parties.

EU commits €290m to Nigeria in strategic investment Upgrade

Federal Government powers 371 healthcare centres with solar energy

By

-

March 24, 2026

KEY POINTS

The Federal Government of Nigeria has installed solar power systems in 371 Primary Healthcare Centres (PHCs) across 17 states and the Federal Capital Territory (FCT).
This initiative is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at ensuring stable and sustainable electricity for essential medical services.
Key partners in the project include the National Primary Healthcare Development Agency (NPHCDA), Gavi, the Vaccine Alliance, and UNICEF.
The primary focus is to strengthen immunization systems, maternal care, and emergency services in rural and underserved communities.

MAIN STORY

The Federal Government has reached a significant milestone in its effort to modernize Nigeria’s healthcare infrastructure by providing reliable renewable energy to 371 primary healthcare facilities. This strategic intervention addresses the long-standing challenge of erratic power supply, which has historically hindered the delivery of 24-hour medical services.

By deploying solar energy, the government aims to empower health workers to provide uninterrupted maternal care, night-time treatments, and emergency responses.

A critical component of this rollout is the preservation of the “cold chain” for life-saving vaccines. With stable electricity, these facilities can now guarantee the potency of vaccines through consistent refrigeration, which is essential for national immunization programs.

Furthermore, the initiative supports the transition to digital health connectivity, allowing for better data reporting and health monitoring systems. This move is expected to drastically improve health outcomes for millions of Nigerians, particularly those in rural areas who previously lacked access to reliable night-time medical support.

THE ISSUES

The primary hurdle for Nigerian rural healthcare has always been the “Energy-Health Gap.” Without a stable grid, PHCs often struggle to perform basic procedures after sunset or maintain the strict temperature requirements for pediatric vaccines. While this solar deployment provides an immediate solution, the long-term challenge remains the “Maintenance and Security” of the installations.

Ensuring that these high-value solar panels and lithium-ion batteries are protected from theft and receive regular technical servicing is vital to prevent them from becoming “orphaned” infrastructure. Additionally, as digital health connectivity is phased in, the demand for consistent high-speed data in remote areas will become a secondary infrastructure requirement.

WHAT’S BEING SAID

“Ensuring that Nigeria’s healthcare facilities run smoothly is one of the priorities of the Renewed Hope Agenda,” stated the Federal Government in its official release.
“This initiative is important because it will guarantee the availability of potent vaccines through stable cold-chain storage,” noted healthcare analysts in Lagos.
“We are now better positioned to innovate and serve the millions of Nigerian households that use our products daily,” added a related private sector partner regarding the impact on community health.

WHAT’S NEXT

The NPHCDA is expected to conduct a follow-up assessment to monitor the reduction in maternal and infant mortality rates in the 17 beneficiary states.
Plans are underway to expand the solar rollout to the remaining 19 states to ensure national coverage for all primary healthcare hubs.
Training programs for facility managers are being scheduled to ensure the basic upkeep and troubleshooting of the solar inverter systems.
A potential integration of telemedicine services is being explored now that reliable power and digital connectivity are available at these sites.

BOTTOM LINE

The Bottom Line is that solar energy is the new backbone of Nigerian rural health. By removing the variable of “grid failure” from 371 primary facilities, the government has created a stable platform for maternal safety and vaccine security. The success of this project now rests on the community’s ability to protect the hardware and the government’s commitment to scaling this “Green Health” model nationwide.

Bondholders hold Naira assets as yields remain stable

Investment trends within the African casino industry

By

Partners Posts

-

March 24, 2026

Africa’s casino sector attracting new attention

Investment activity in Africa’s casino industry has increased steadily over the past decade as international operators, regional companies, and private investors identify opportunities across emerging markets. While sports betting dominates the gambling landscape in many African countries, the casino sector—both land‑based and online—has begun to attract strategic investment tied to tourism, entertainment, and digital gaming growth.

For Nigerian readers following developments in the broader gaming economy, understanding how investment trends shape the casino industry can provide valuable insight into how the sector may evolve in the coming years.

Key drivers behind casino investment in Africa

Several structural factors explain why investors are increasingly exploring opportunities in the African casino market. These drivers combine economic growth, demographic changes, and technological adoption across the continent.

The most significant factors include:

Rapid population growth, particularly among younger demographics interested in digital entertainment.
Expansion of mobile and internet infrastructure, enabling online gaming platforms to reach wider audiences.
Tourism development, especially in destinations where entertainment complexes can complement hospitality sectors.
Regulatory modernization in several countries seeking to formalize gaming industries and attract responsible operators.

These conditions have created a landscape where casino investment is no longer limited to traditional gambling hubs but is spreading across multiple emerging economies.

Nigeria’s strategic role in the regional gaming economy

Nigeria represents one of the largest consumer markets in Africa, with a rapidly expanding digital economy and strong interest in sports wagering and online entertainment. While the country’s casino segment is smaller than its sports betting market, investors increasingly view Nigeria as a strategic gateway to West Africa’s broader gaming ecosystem.

Key advantages that attract attention from gaming investors include:

A large and youthful population comfortable with mobile technology.
Strong engagement with sports and entertainment content.
A developing regulatory environment overseen by the National Lottery Regulatory Commission (NLRC).
Growing fintech infrastructure that facilitates digital payments.

These factors position Nigeria as an important market within the evolving African gaming landscape.

Land‑based casinos and tourism development

Across several African countries, land‑based casinos remain closely linked to tourism and hospitality investments. Casino resorts are often integrated into larger entertainment complexes that include hotels, restaurants, and conference facilities.

In regions where tourism plays a significant economic role, casino investment can contribute to:

Job creation in hospitality and service sectors.
Infrastructure development tied to entertainment destinations.
Foreign direct investment in local economies.

While Nigeria’s tourism sector differs from destinations like South Africa or Morocco, entertainment infrastructure projects still form part of long‑term investment strategies in major urban centers.

Digital casinos and the growth of iGaming

Alongside traditional casino venues, the fastest‑growing segment of the industry involves online casino platforms and broader iGaming services. Technological innovation has allowed operators to introduce digital gaming experiences accessible through smartphones and computers.

Important technological developments influencing investment include:

Mobile‑first gaming platforms designed for African internet usage patterns.
Secure digital payment systems integrated with fintech services.
Cloud‑based gaming infrastructure capable of supporting large numbers of users.
Data analytics tools that help operators understand player behavior.

Because Nigeria has one of the continent’s most active digital user bases, online gaming platforms often see the country as a priority expansion market.

The importance of reliable industry information

Investors evaluating opportunities in the gaming sector rely heavily on specialised reporting and market analysis. Industry media platforms provide updates on regulatory reforms, operator strategies, and technological developments shaping the casino ecosystem.

For example, Focus Gaming News regularly tracks developments across sports betting, casino operations, and the wider iGaming industry, offering insight into how global trends intersect with emerging African markets.

Access to consistent information helps investors better understand risk factors, regulatory shifts, and the long‑term potential of specific markets.

Responsible growth and regulatory balance

As investment expands, regulators across Africa face the challenge of balancing economic opportunity with consumer protection. Responsible gambling measures, licensing transparency, and tax policy are increasingly central to how governments approach the gaming industry.

Effective regulation can support:

Investor confidence through legal clarity.
Consumer protection standards within gaming platforms.
Sustainable market development over the long term.

For Nigeria, maintaining this balance will be important as the broader gaming sector—including casino entertainment and iGaming—continues to evolve.

The African casino industry is entering a period defined by diversification, digital innovation, and increasing international interest. Investment trends indicate that the sector will likely expand through a combination of entertainment infrastructure, online gaming platforms, and cross‑border partnerships.

For Nigeria, these developments highlight the country’s role within a rapidly transforming regional gaming economy. As investors, regulators, and operators adapt to changing conditions, the direction of casino investment will continue to shape the broader future of gaming across Africa.

Money Market Rates diverge as banks boost SDF placements

OPay to build cybersecurity lab at University of Calabar to boost digital skills

By

Grace Johnson

-

March 24, 2026

Key Points

OPay plans to establish a cybersecurity laboratory at the University of Calabar
The project is part of a partnership that began in 2023
The lab aims to improve students’ digital and cybersecurity skills
OPay will also support the 2026 Nigeria University Games at UniCal
The university has pledged full support for the project

Main Story
A leading financial technology company, OPay, has announced plans to build a cybersecurity laboratory at the University of Calabar (UniCal). The move is aimed at strengthening digital education and equipping students with practical skills in cybersecurity.

The announcement was made during a visit by an OPay delegation to the Vice Chancellor of the university, Professor Offiong Offiong, in Calabar.

Speaking during the visit, the leader of the delegation, Mr Itoro Udo, explained that the project is part of OPay’s ongoing commitment to the university. He said the visit was to fulfill a promise the company had earlier made.

“To show how serious we are about this project, we came along with representatives of the construction company that will handle the implementation,” Udo said.

He added that the construction firm, Hunter Flex Intercoms Construction Company, will be responsible for building the cybersecurity laboratory.

According to Udo, OPay’s relationship with the University of Calabar began in 2023, and the company is determined to strengthen that partnership through meaningful and impactful projects.

The proposed cybersecurity lab is expected to provide students with hands-on experience in digital security, an area that is becoming increasingly important in today’s technology-driven world. With cyber threats on the rise globally, skills in cybersecurity are now in high demand across industries.

Udo also revealed that OPay will support the university in hosting the 2026 Nigeria University Games (NUGA), scheduled to take place in August. This support is expected to contribute to the successful organization of the event.

The Issues
Nigeria’s education system faces challenges in keeping up with the fast pace of technological advancement. Many universities lack modern facilities and practical training tools needed to prepare students for real-world digital challenges.

Cybersecurity, in particular, is an area where there is a growing skills gap. As more businesses and services move online, the risk of cyber attacks increases. However, many students graduate without adequate knowledge or hands-on experience in protecting digital systems.

This gap makes it harder for young graduates to compete in the global job market. It also limits the country’s ability to build a strong and secure digital economy.

There is also a need for stronger collaboration between private companies and educational institutions. Partnerships like the one between OPay and UniCal are seen as a way to bridge this gap and bring practical innovation into the classroom.

What’s Being Said
The Vice Chancellor of the University of Calabar, Professor Offiong Offiong, welcomed the initiative and described it as both timely and important. He noted that the cybersecurity laboratory would help position students ahead of others by giving them access to modern tools and knowledge in digital security.

“This project will go a long way in improving our technological infrastructure and preparing our students for future opportunities,” he said. Offiong also assured OPay of the university’s full support in ensuring the successful completion of the project.

In addition, he expressed appreciation for OPay’s willingness to support the upcoming Nigeria University Games. According to him, preparations are already in progress to host a successful event.

He further explained that the university plans to maintain and improve sports infrastructure even after the games, ensuring long-term benefits for students.

What’s Next
The next step is the construction and completion of the cybersecurity laboratory. With the involvement of the construction company already confirmed, work on the project is expected to begin soon.

Once completed, the lab will serve as a training hub for students, helping them develop practical cybersecurity skills that are relevant in today’s digital world.

Meanwhile, preparations for the 2026 Nigeria University Games will continue as the university works closely with partners like OPay to ensure a successful event in August.

The partnership between OPay and UniCal is also expected to grow, with the possibility of more projects and collaborations in the future.

Bottom Line
OPay’s plan to build a cybersecurity lab at the University of Calabar is a major step toward improving digital education in Nigeria. It highlights the importance of private sector involvement in strengthening the country’s education system.

By providing students with access to modern tools and practical training, the initiative will help bridge the skills gap in cybersecurity and better prepare graduates for the future.

If successfully implemented, this project could serve as a model for other institutions and companies looking to invest in education and technology development.

Bondholders hold Naira assets as yields remain stable

By

-

March 24, 2026

By Boluwatife Oshadiya | March 24, 2026

Key Points

Average sovereign bond yield holds steady at 15.73% amid cautious trading
Short- and mid-term bonds record mixed movements across the curve
Liquidity conditions and prior primary market activity drive subdued sentiment

Main Story

Nigerian sovereign bond yields held steady on Monday as investors maintained positions in naira-denominated assets, reflecting cautious market sentiment despite mixed movements across maturities.

Average benchmark yield closed unchanged at 15.73%, according to market data, as trading activity remained subdued across the curve. Analysts attributed the stability to sustained domestic investor confidence and strong system liquidity, which has continued to support demand for government securities.

Select maturities recorded minor repricing. Bonds maturing in March 2028 and November 2028 saw yields decline by three and one basis points respectively, indicating mild demand in the short-to-mid segment. Conversely, longer-dated instruments, including May 2033 and June 2033 bonds, recorded yield increases of five and three basis points, reflecting slight sell pressure.

Market participants noted that trading volumes remained thin, with investors adopting a wait-and-see approach following recent primary market auctions. In a market note, AIICO Capital reported that short-term bonds showed mixed performance, with the March 20, 2027 instrument quoted lower, while the February 23, 2028 bond edged up by one basis point to 16.18%.

Mid-tenor instruments also experienced upward pressure, with the May 2033 bond rising to 16.14%, while the April 2032 bond ticked up marginally to 16.07%. Meanwhile, select shorter maturities, including February 2031 and April 2029 bonds, saw yields ease slightly.

What’s Being Said

“Short-term instruments showed mixed movements as investors selectively repriced positions amid liquidity-driven demand,” AIICO Capital Limited said in a market note.

“The bond market remains supported by strong liquidity conditions, but investors are cautious following recent auction dynamics,” a Lagos-based fixed income trader told BizWatch Nigeria.

What’s Next

Next primary bond auction expected to shape yield direction in late March
Investors likely to monitor inflation data and monetary policy signals
Liquidity levels in the banking system will continue to influence demand

The Bottom Line: Stable yields signal continued domestic confidence in government debt, but cautious positioning suggests investors are waiting for clearer macroeconomic direction before making aggressive moves.

Naira weakens to ₦1,388/$ amid rising Dollar demand pressure

Gold recovers from historic slide as liquidation phase exhausts

By

-

March 24, 2026

KEY POINTS

Gold (GC=F) edged up 0.46% to $4,427.40 on Tuesday morning, attempting to break a record 10-day losing streak that saw prices tumble 15% since the war began.
The metal’s underperformance is attributed to a “dash for cash,” where investors liquidate profitable gold positions to cover margin calls in failing equity and bond markets.
Inflationary risks from the energy shock are driving expectations of further Federal Reserve interest rate hikes, creating a massive headwind for non-yielding bullion.
Energy-importing central banks have slowed their gold accumulation as they redirect dollar reserves to pay for surging oil and gas bills.

MAIN STORY

Gold prices stabilized on Tuesday, reversing a downward trend that briefly threatened a collapse toward the $4,100 level. Despite President Trump’s claims of “productive” talks, the metal remains whipsawed by conflicting headlines, including reports that Persian Gulf states may join the military coalition.

Analysts from Standard Chartered and Union Bancaire Privee (UBP) note that this “steeper-than-usual” correction is a result of gold being one of the few remaining liquid assets that investors can sell to offset losses in broader financial markets.

The historical precedent for this price action is the 2022 Russian invasion of Ukraine. In both instances, an initial geopolitical spike was quickly followed by a months-long decline as the resulting energy shock stoked inflation.

This forces central banks to maintain a hawkish stance, raising the “opportunity cost” of holding gold. Furthermore, the structural damage to Middle Eastern energy infrastructure—which the IEA warns will take years to repair—ensures that the “inflationary floor” for interest rates remains high, keeping gold under sustained pressure.

THE ISSUES

The primary conflict for gold is the “Margin Call Loop.” In a broad market crash, gold is often sold not because it has lost its fundamental value, but because it is liquid. As Peter Kinsella of UBP explains, when equities and bonds collapse, institutional investors are forced to sell their “winners” (gold) to stay solvent.

Additionally, the “Petrodollar Drain” is a new factor: emerging market central banks that typically buy gold are currently bleeding cash to afford $100+ oil, removing a major pillar of demand that has supported bullion for the last two years.

WHAT’S NEXT

Fed Sentiment: Investors are waiting for the next Federal Open Market Committee (FOMC) signals to see if the war-driven inflation spike triggers an emergency rate hike.
Hormuz Safe-Passage: Any verified reopening of the Strait of Hormuz would likely lower oil prices, potentially ending the “forced liquidation” phase for gold.
Technical Support: Traders are watching the $4,400 level; holding this line is critical to preventing a slide back to the $4,000 psychological floor.
Standard Chartered Forecast: Analysts expect the “downside pressure” to last another two weeks before gold regains its status as a hedge against long-term currency devaluation.

WHAT’S BEING SAID

“Gold proves to be a liquid asset in times of need… it is not unusual to endure downside pressure for four to six weeks,” stated Suki Cooper, Standard Chartered.
“Investors are selling well-performing assets to fund margin calls for underperforming assets,” explained Peter Kinsella, UBP.
“Short-term shifts in pricing are all about positioning. Longer term it’s all with the monetary drivers,” Kinsella added.

BOTTOM LINE

The Bottom Line is that Gold is acting as the world’s ATM. Its recent 15% drop isn’t a vote of no-confidence in the metal, but rather a reflection of how desperate the global financial system is for liquidity. Until the “margin call” phase of this war ends, gold will continue to trade as a source of cash rather than a haven of safety.

Zelensky accuses Russia of supplying intelligence to Iran

Oil prices rebound as overnight Israel-Iran strikes dampen peace hopes

By