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Dangote refinery: NMDPRA mulls legal battle over access restriction

By Annette Ikponmwonba | September 9, 2026

Keypoints

• NMDPRA is considering its next legal move after a Federal High Court restrained it from interfering with Dangote Refinery’s operations.

• The court said the refinery had satisfied the conditions for an interim injunction.

• Dangote Refinery argued that NMDPRA lacks regulatory authority Nigerian Midstream and Downstream Petroleum Regulatory Authority is weighing its next move following a Federal High Court order restraining it from shutting down or interfering with the operations of Dangote Petroleum Refinery in the over operations within free trade zones.

• An earlier Attorney-General of the Federation letter reportedly stated that NMDPRA could not exercise regulatory oversight over free zones.

• NMDPRA had previously maintained that petroleum companies operating in free zones remain subject to the Petroleum Industry Act.

Main Story

The Nigerian Midstream and Downstream Petroleum Regulatory Authority is weighing its next move following a Federal High Court order restraining it from shutting down or interfering with the operations of Dangote Petroleum Refinery in the Lekki Free Zone, Lagos, Justice Akintayo Aluko issued the interim injunction after hearing an application filed by Dangote Petroleum Refinery Nigeria Limited.

The refinery approached the court after NMDPRA allegedly directed it, in a letter dated August 24, 2026, to suspend the loading and truck-out of petroleum products from its facility, Dangote argued that NMDPRA lacked regulatory and oversight powers over operations within free zones, including the Dangote Industrial Free Zone.

In granting the interim injunction, Justice Aluko said he had considered the application, affidavit evidence, exhibits and submissions from both sides, The judge also referred to a March 2, 2026 letter from the Attorney-General of the Federation, which reportedly stated that NMDPRA was not entitled to exercise regulatory powers or oversight functions over operations within free zones.

The Issues

The dispute centres on whether petroleum facilities operating within free trade zones are subject to NMDPRA’s regulatory authority under the Petroleum Industry Act 2021, Dangote Refinery maintains that its location within the Dangote Industrial Free Zone limits NMDPRA’s regulatory jurisdiction.

NMDPRA, however, has previously taken the opposite position, arguing that petroleum companies operating in free zones, export processing zones and other designated areas remain subject to the Petroleum Industry Act and regulations issued under it, The disagreement could have implications beyond Dangote Refinery, particularly for other oil and gas companies operating within Nigeria’s free zones.

What’s Being Said

NMDPRA spokesman George Ene-Ita declined to comment further on the matter, saying he could not comment on a case before the court, Senior officials within the regulator indicated that the agency’s legal team and management would determine its next course of action, In May, NMDPRA issued an industry circular stating that petroleum companies operating in free zones, export processing zones and other designated areas remain fully subject to the Petroleum Industry Act 2021.

What’s Next

NMDPRA’s legal team and management are expected to determine whether to challenge the court’s interim order or pursue another legal option, The substantive legal dispute over regulatory authority within free zones could become more important as the case progresses, The outcome could also establish a significant precedent for the regulation of petroleum companies operating within Nigeria’s free trade zones.

Bottom Line

The dispute between Dangote Refinery and NMDPRA is fundamentally about who has regulatory authority over petroleum operations inside free zones. The court has temporarily restricted NMDPRA’s intervention, while the regulator is considering its next legal move.

I only married my wife for my children to get british passports – Femi Kuti

Fela Anikulapo Kuti Nominated For 2021 Rock and Roll Hall Of Fame

By Annette Ikponmwonba | September 9, 2026

Keypoints

• Femi Kuti said he told his first wife before marriage that he could not remain faithful to one woman.

• The 64 year old Afrobeat musician said he married his first wife partly so their children could have access to British passports.

• Femi said he had been open about his views on relationships and his lifestyle before getting married.

• He was married to Funke Kuti, with whom he had one child, Omorinmade “Made” Kuti.

• Femi’s marriage to Funke later ended in divorce.

Main Story

Afrobeat musician Femi Kuti has revealed that he warned his first wife, Funke Kuti, before their marriage that he would struggle to remain faithful to one woman, The 64-year-old musician made the disclosure during an interview with Channels Television, where he discussed his views on relationships and marriage.

Femi said he was honest with his first wife about his lifestyle, telling my first wife before we got married that I love women and could never be faithful to just one woman. I only married her so my children could get a British passport,” her that he loved women and did not believe he could commit exclusively to one woman.

The musician also said he had a specific reason for getting married, explaining that he wanted his children to have access to British passports, “I told my first wife before we got married that I love women and could never be faithful to just one woman. I only married her so my children could get a British passport,” he said.

Femi and Funke Kuti had one child together, Omorinmade Kuti, popularly known as Made Kuti, who was born in 1995, The marriage eventually ended in divorce after several years.

The Issues

Femi’s comments have drawn attention because of his candid explanation of his motivation for marriage and his views on monogamy.

His statement also raises broader questions about expectations within marriage, honesty between partners and the importance of discussing relationship boundaries before marriage.

The reference to British passports also places his decision within the context of the benefits and opportunities associated with British citizenship and travel documentation.

What’s Being Said

Femi said he had made his position clear to his first wife before they got married and did not hide his attitude towards relationships, The musician has also recently spoken about Nigeria’s political situation. In an episode of the Good News Naija podcast, he argued that President Bola Tinubu is not Nigeria’s major problem and identified the judiciary as a more significant issue.

What’s Next

Femi’s comments are likely to continue generating public discussion, particularly around his views on marriage, fidelity and family, His broader comments on Nigeria’s political and judicial systems may also attract further attention as he continues to speak publicly on national issues.

Bottom Line

Femi Kuti says he entered his first marriage with his views on relationships already made clear to his wife and that securing British passports for his children was one of his motivations for marrying.

Blackouts- factories spend N1.3tn on alternative power

By Annette Ikponmwonba | September 9, 2026

Keypoints

• Nigerian manufacturers spent ₦1.34tn on alternative electricity in 2025, up about 21% from ₦1.11tn in 2024.

• Alternative power spending has risen sharply from ₦25bn in 2014.

• Average daily grid electricity supply reportedly fell from 16.7 hours in H1 2025 to 13.1 hours in H2 2025.

• Several major manufacturers are increasingly using gas, LPFO and generators to reduce dependence on DisCos.

• Rising self-generation costs are putting additional pressure on manufacturers’ margins and competitiveness.

Main Story

Nigeria’s persistent electricity shortages are imposing a growing financial burden on manufacturers, with companies spending ₦1.34tn in 2025 to generate or source alternative power, Data from the Manufacturers Association of Nigeria showed that the amount increased from ₦1.11tn in 2024, representing approximately a 21 per cent rise.

Alternative-power spending has grown sharply over the past decade. It increased from ₦25bn in 2014 to ₦129.95bn in 2016 before declining through 2019. It then began rising rapidly, reaching ₦144.5bn in 2022, ₦781.7bn in 2023, ₦1.11tn in 2024 and ₦1.34tn in 2025, The worsening reliability of grid electricity has prompted some manufacturers to rely more heavily on their own power systems, including gas and LPFO-powered plants, to prevent production interruptions.

The Issues

The central issue is the high cost and unreliability of electricity available to Nigerian manufacturers, Factories require stable electricity for continuous production. Frequent outages force businesses to switch to alternative sources, increasing energy costs and disrupting production.

This creates a competitive disadvantage because manufacturers must absorb expenses that could otherwise go towards expansion, new equipment, employment and productivity improvements, The situation is also occurring alongside weak consumer demand, inflationary pressures and high operating costs, making it harder for manufacturers to pass the full cost of production on to consumers.

What’s Being Said

MAN said grid reliability deteriorated significantly in 2025, with average daily electricity supply falling from 16.7 hours in the first half of the year to 13.1 hours in the second half, Industry stakeholders have called for more reliable grid electricity and greater investment in alternative energy infrastructure to reduce manufacturers’ dependence on expensive self-generation, The growing use of gas and LPFO by major companies indicates that some manufacturers are increasingly treating alternative power as a regular part of their operations rather than merely an emergency backup.

What’s Next

Manufacturers are likely to continue investing in captive power, gas generation and other off-grid solutions if grid reliability remains poor, For the government and electricity regulators, the challenge is to encourage investment in generation, transmission and distribution while making electricity more dependable for industrial users.

Bottom Line

Nigeria’s manufacturers spent ₦1.34tn simply keeping their factories powered in 2025. The rising bill demonstrates how unreliable electricity has become a major production cost and a threat to industrial competitiveness, Unless grid reliability improves, manufacturers are likely to continue shifting towards self-generation and spending more to keep production running.

Short-term funding rates ease as liquidity hits N7.4trn

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • Money market liquidity rises to N7.35 trillion from N4.33 trillion at the previous close
  • Overnight lending rate falls three basis points to 22.15%, while the Open Repo Rate remains at 22%
  • CBN auctions about N4.4 trillion in OMO bills as banks maintain heavy placements at the Standing Deposit Facility

Main Story

Money market liquidity rose to N7.35 trillion as of Tuesday, easing short-term funding pressure despite the Central Bank of Nigeria’s aggressive open market operations.

The liquidity balance increased by N3.02 trillion from Monday’s closing level of N4.33 trillion, according to a market report by Herwood Securities Limited.

The surplus liquidity supported lower overnight funding costs, with the overnight lending rate declining three basis points to 22.15%. The Open Repo Rate (OPR), however, remained unchanged at 22%.

Deposit Money Banks maintained significant placements with the CBN’s Standing Deposit Facility (SDF), indicating that banks had limited immediate demand for central bank borrowing despite the scale of liquidity in the system.

The CBN allotted about N4.4 trillion in OMO bills on Tuesday as part of its liquidity-management operations. The market is also scheduled to absorb a N500 billion Treasury bill auction on Wednesday.

The combined settlements are expected to reduce excess liquidity in the financial system. However, the impact could be partly offset by about N3 trillion in expected OMO repayments.

Herwood Securities said the money market was likely to remain stable, with the prevailing liquidity surplus providing support for short-term funding conditions.

What’s Being Said

“The money market is expected to remain stable, with liquidity conditions still supportive despite the sizeable OMO allotment.” — Herwood Securities Limited

The investment firm also said short-term funding rates were likely to remain broadly unchanged because the system retained sufficient liquidity to meet near-term funding requirements.

What’s Next

The CBN is scheduled to conduct a Treasury bill auction with an offer size of N500 billion on Wednesday.

Market participants will also monitor the expected N3 trillion in OMO repayments and subsequent liquidity movements for their effect on short-term funding rates.

Bottom Line

The Bottom Line: The sharp rise in system liquidity is keeping money market funding conditions comfortable even as the CBN intensifies liquidity sterilisation through OMO auctions. The direction of rates will depend largely on how upcoming auction settlements interact with expected OMO repayments.

Dangote refinery posts N19.13trn revenue in h1 2026

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • Dangote Petroleum Refinery records N19.13 trillion in H1 2026 revenue, up 121.46% from N8.638 trillion in H1 2025
  • Reports $1.82 billion profit after tax after recording a $476 million loss for full-year 2025
  • Raises production performance to as much as 700,000 barrels per day in June as petrol, diesel and jet fuel sales increase

Main Story

Dangote Petroleum Refinery generated N19.13 trillion in revenue in the first half of 2026, more than doubling its H1 2025 revenue as production and petroleum-product sales increased.

The refinery’s H1 revenue rose 121.46% from N8.638 trillion recorded in the corresponding period of 2025, according to the company’s reported financial performance.

The earnings improvement extended to profitability, with the refinery reporting $1.82 billion in profit after tax, compared with a $476 million loss for full-year 2025. Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached $2.60 billion, while gross profit rose to N3.432 trillion from N225.195 billion a year earlier.

The company attributed the stronger performance to improving production stability and higher product sales. Production across its processing units became more stable from March 2026, while performance testing reached as high as 700,000 barrels per day in June.

Petrol sales increased to about 6.06 million metric tonnes from 3.09 million tonnes in H1 2025, while average realised prices rose to approximately $975 per tonne from $723.

Diesel sales also increased to 2.86 million tonnes from 1.76 million tonnes, with average realised prices rising from $688 to $1,225 per tonne. Jet fuel sales climbed to 3.02 million tonnes from 2.06 million tonnes, while realised prices increased from $663 to $1,092 per tonne.

The performance comes as Dangote Refinery continues to scale commercial operations following its commissioning and production ramp-up.

What’s Being Said

“Production became more stable across its processing units from March 2026, while performance testing reached as high as 700,000 barrels per day in June.” — Dangote Petroleum Refinery

Cowry Asset Limited was not cited in the supplied material on the refinery’s results, while no independent analyst comment was provided for this earnings report.

What’s Next

Dangote Refinery is expected to focus on sustaining higher utilisation and production reliability as it expands commercial output.

The proposed expansion toward approximately 1.4 million barrels per day would provide additional production capacity, although the supplied material does not give a confirmed commissioning date for the expansion.

The proposed listing of the refinery on the Nigerian Exchange Growth Board will also place greater focus on its earnings, cash-flow generation, capital structure and valuation once the relevant offer documentation is available.

Bottom Line

The Bottom Line: Dangote Refinery’s H1 performance shows a significant shift toward large-scale commercial earnings, driven by higher production and stronger product sales. Sustaining that performance will be critical to determining whether the first-half results represent the beginning of a durable earnings cycle.

Bitcoin climbs as Capital B expands treasury holdings

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • Capital B acquired 376 Bitcoin for €25.3 million, lifting its treasury holdings to 3,521 BTC
  • U.S. spot Bitcoin ETFs attracted about $987 million in net inflows for the week ended September 4
  • Bitcoin faces an important test around the $80,000 resistance level ahead of U.S. inflation data

Main Story

Bitcoin rose about 1% to $79,172.64 as renewed institutional demand and bullish technical signals supported the cryptocurrency, while French-listed Capital B expanded its Bitcoin treasury to 3,521 BTC.

Capital B announced on September 7 that it acquired 376 Bitcoin for €25.3 million, at an average price of €67,182 per coin. The purchase followed capital raises totalling about €30.1 million, including a €28.7 million private placement involving strategic investors Adam Back and TOBAM.

Swissquote Bank Europe executed the purchase, while Taurus provided custody, according to Capital B’s announcement. The company said its total Bitcoin holdings now have an acquisition value of €309.4 million, based on an average cost of €87,878 per Bitcoin.

Capital B also reported a year-to-date BTC Yield of 2.17%, alongside a BTC Gain of 61.3 BTC. The company cautioned that these metrics are supplemental measures rather than conventional financial or liquidity indicators.

Market data also pointed to stronger institutional participation. U.S. spot Bitcoin exchange-traded funds recorded about $986.7 million in net inflows for the week ended September 4, extending a multi-week period of positive flows.

Bitcoin’s technical structure has also improved, with the 50-day exponential moving average crossing above the 200-day average, a formation commonly referred to as a golden cross. The development has strengthened the bullish case, although price remains sensitive to macroeconomic expectations and Federal Reserve policy.

What’s Being Said

“Capital B confirms the acquisition of 376 BTC for €25.3 million,” the company said in its September 7 announcement, confirming the latest expansion of its Bitcoin Treasury Company strategy.

Market coverage has meanwhile highlighted the combination of corporate treasury buying and renewed ETF inflows as evidence of continued institutional participation in Bitcoin.

What’s Next

Bitcoin’s immediate test is the $80,000 psychological resistance level. A sustained move above that threshold would strengthen the current bullish structure, while a failure to hold key support could expose the market to renewed selling pressure.

Investors will also focus on the U.S. August Consumer Price Index (CPI) report scheduled for September 11, with inflation data likely to influence expectations for the Federal Reserve’s interest-rate path.

Bottom Line

The Bottom Line: Bitcoin’s latest advance is being supported by both corporate treasury accumulation and sustained ETF demand, giving the rally a broader foundation than short-term speculative buying alone. However, the market remains exposed to U.S. inflation and interest-rate expectations, making the $80,000 level an important near-term test.

Naira holds steady as interbank FX turnover falls

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • The naira traded around ₦1,320 per US dollar at the Nigerian Foreign Exchange Market
  • Interbank foreign exchange turnover fell more than 48% to $55.60 million
  • Nigeria’s external reserves reached $54.08 billion, their highest level since December 2008

Main Story

The naira traded largely sideways at the Nigerian Foreign Exchange Market (NFEM) as interbank foreign exchange activity weakened, while Nigeria’s external reserves remained above $54 billion.

The Central Bank of Nigeria (CBN) quoted the NFEM exchange rate at ₦1,320.2469 per US dollar, compared with ₦1,320.5574 at the previous close. Trading during the session took place between ₦1,318 and ₦1,323 per dollar.

Interbank foreign exchange turnover fell to $55.604 million across 58 deals, from $107.069 million in the previous session. The decline represents a drop of more than 48%, pointing to weaker transaction activity at the interbank window.

The softer trading activity comes against a stronger external reserve position. CBN data showed Nigeria’s gross external reserves reached $54.08 billion on September 3, up from $53.99 billion on September 2 and $53.90 billion on September 1. The level is the highest recorded since December 2008.

The reserves have increased by about $8.52 billion from $45.56 billion at the beginning of 2026, representing an 18.7% increase. The latest position is also about $3.04 billion above the CBN’s projected $51.04 billion reserve level for the end of the year.

The stronger external position has coincided with a firmer naira. Recent market data showed the currency trading around the ₦1,315–₦1,320 range, while weekly NFEM turnover between August 31 and September 3 fell 33% from the previous week’s level.

What’s Being Said

CBN Governor Olayemi Cardoso has attributed the rise in external reserves to stronger foreign-exchange inflows, including receipts from crude-oil-related taxes and third-party inflows.

Market reporting indicates that the combination of stronger reserves and improved foreign-exchange liquidity has supported the naira’s recent appreciation, although weaker turnover shows that trading activity has not increased alongside the currency’s gains.

What’s Next

The direction of the naira will remain closely linked to the supply of foreign exchange through the official market and the CBN’s reserve position.

Market participants will also monitor crude oil prices, particularly as Brent crude approaches $100 per barrel amid escalating Middle East tensions and disruptions to regional energy infrastructure.

Bottom Line

The Bottom Line: The naira’s stability is being reinforced by a substantially stronger external reserve position, but the sharp fall in interbank turnover suggests that the currency’s recent gains should not be interpreted solely as evidence of stronger market activity. Sustained FX inflows will be critical to maintaining the improvement.

CBN allots N4.4trn in OMO bills as rates fall below 20%

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • CBN allots ₦4.40 trillion in OMO bills against ₦1 trillion offered across three tenors
  • Investors subscribe for ₦6.31 trillion as demand concentrates on longer-dated OMO bills
  • ₦3 trillion in OMO maturities due Wednesday is expected to inject liquidity into the financial system

Main Story

The Central Bank of Nigeria (CBN) allotted ₦4.40 trillion in Open Market Operation (OMO) bills on Tuesday, significantly exceeding its ₦1 trillion offer as investors sought short-term naira assets.

According to auction results reviewed by MarketForces Africa, total subscriptions reached ₦6.31 trillion across the 84-day, 147-day and 154-day OMO bills. The auction was conducted to absorb excess liquidity from the financial system.

The CBN offered ₦200 billion of 84-day bills and ₦400 billion each of the 147-day and 154-day instruments. Investors subscribed for ₦637.19 billion of the 84-day bills, of which ₦637.19 billion was allotted at 19.14%.

For the 147-day tenor, subscriptions reached ₦817.32 billion against an offer size of ₦400 billion, with the CBN allotting the subscribed amount at 18.49%.

The strongest demand was recorded on the 154-day bills. The CBN allotted ₦2.94 trillion at 18.41%, representing about five times the ₦600 billion offer and approximately 70% of total subscriptions for the tenor.

The auction came as system liquidity stood at ₦4.33 trillion at the opening of trading, according to MarketForces Africa, down ₦330 billion from Friday’s closing level of ₦4.66 trillion.

The sub-20% rates across all three tenors mark a notable shift in OMO pricing, while the high subscription levels indicate continued investor demand for short-term naira-denominated instruments.

What’s Being Said

MarketForces Africa reported that the strong subscription levels reflected sustained demand for naira assets, with longer tenors attracting the largest portion of investor interest.

No direct quotation from the CBN or an independent market analyst was included in the supplied material, so BizWatch Nigeria has not attributed an unverified quote to either source.

What’s Next

  • ₦3 trillion in OMO bills is scheduled to mature on Wednesday, providing a significant liquidity injection into the financial system
  • Market participants will monitor whether the OMO repayment offsets Tuesday’s liquidity mop-up and eases short-term funding conditions
  • Subsequent CBN liquidity operations will help determine the direction of money-market rates following the maturity

Bottom Line

The Bottom Line: The CBN’s ₦4.40 trillion allotment shows that demand for naira assets remains strong even as the central bank continues to sterilise liquidity. However, Wednesday’s ₦3 trillion OMO maturity means the immediate liquidity impact of Tuesday’s auction could be partly reversed.

MTNN, Firstholdco drag NGX index as investors lose ₦1.88trn

NGX Records N256bn Loss Last Week

By Boluwatife Oshadiya | September 9, 2026

Key Points

  • Investors lose ₦1.88 trillion in market capitalisation as the NGX All-Share Index falls 1.17%
  • MTN Nigeria, First HoldCo, AccessCorp and other large-cap stocks lead the sell-off
  • Market activity strengthens as 753.17 million shares worth ₦27.82 billion change hands in 54,051 deals

Main Story

Nigerian equities fell sharply on Tuesday as losses in MTN Nigeria, First HoldCo and other major stocks pushed the NGX All-Share Index down 1.17%, wiping ₦1.88 trillion from market capitalisation.

According to Nigerian Exchange Group market data supplied for the session, the All-Share Index declined by 2,897.67 points to close at 244,802.11, while its year-to-date return moderated to 57.31%. Market capitalisation fell to ₦158.72 trillion from its previous level.

The sell-off was concentrated in the Banking sector and followed renewed profit-taking in medium- and large-cap stocks that had recorded significant appreciation. AccessCorp, MTN Nigeria, GTCO, First HoldCo and Oando were among the major decliners.

Market activity, however, strengthened during the session. Total deals increased by 3.30%, while traded volume and turnover rose by 84.67% and 2.09%, respectively. Investors executed 54,051 deals involving 753.17 million shares valued at ₦27.82 billion.

NEM Insurance dominated trading volume, accounting for 17.63% of total units traded, followed by MBENEFIT at 11.80%, SterlingNG at 5.47%, AccessCorp at 4.94% and Conhall Plc at 4.75%. NEM Insurance also led by value, representing 14.67% of total transaction value.

Market breadth was strongly negative, with four gainers against 61 decliners. Ellah Lakes led the gainers at 7.07%, followed by NGX Group at 1.38%, LearnAfrica at 1.16% and Wema Bank at 0.68%.

Avance Capital led the decliners after falling 10.00%, followed by FTG Insurance at 9.89%, Abbey Mortgage Bank at 9.74%, Consolidated Hallmark Insurance at 9.66%, First HoldCo at 9.30% and Royal Exchange at 9.09%.

Sector performance was mixed, with Consumer Goods rising 0.49%, while Oil/Gas and Commodity gained 5.76% and 4.04%, respectively. Banking fell 5.29%, Insurance declined 4.38%, while Industrial Goods lost 0.64%.

What’s Being Said

Stockbrokers attributed the market weakness to renewed profit-taking in recently appreciated medium- and large-cap stocks, with Banking stocks bearing the heaviest pressure.

No direct market-participant quotation was included in the supplied source material, so BizWatch Nigeria has not inserted an unverified quote.

What’s Next

  • Investors will watch whether profit-taking persists in the next trading sessions
  • Banking and other recently appreciated large-cap stocks are likely to remain central to market direction
  • Trading activity will be monitored for signs of whether the sharp increase in volume represents continued repositioning or renewed accumulation

Bottom Line

The Bottom Line: Tuesday’s sell-off shows that strong year-to-date gains are creating room for aggressive profit-taking, particularly in large-cap and banking stocks. The sharp decline in market capitalisation, despite substantially higher trading activity, points to a market undergoing significant portfolio repositioning rather than a simple slowdown in investor participation.

Stakeholders demand urgent CVFF disbursement to boost maritime sector

Key Points

• Stakeholders call for faster disbursement of the Cabotage Vessel Financing Fund to indigenous operators.
• Only 20 of 92 CVFF applications have reached banks for processing.
• Maritime stakeholders seek stronger collaboration, skills development and regional integration.

Main Story

Stakeholders at the 2026 Lagos Maritime Week roundtable have urged the Federal Government to accelerate disbursement of the Cabotage Vessel Financing Fund (CVFF) to strengthen indigenous participation in Nigeria’s shipping industry.

The call was made on Tuesday during discussions on the gap between maritime policies and their implementation across West and Central Africa.

Ms Iroghama Ogbeifun, Managing Director of Starz Investment Company Ltd. and a Board Member of the Nigeria Maritime Administration and Safety Agency (NIMASA), said delayed access to the fund was limiting the ability of Nigerian operators to acquire vessels and compete effectively.

She disclosed that 20 of the 92 CVFF applications had reached the banks for processing and urged authorities to speed up approvals.

According to Ogbeifun, timely access to the fund would enable local operators to acquire vessels, reduce dependence on foreign ships and increase Nigerian participation in domestic shipping.

She also identified human capacity as another constraint, calling for stronger cadetship programmes and partnerships between Nigerian operators and foreign organisations to train seafarers, engineers and shipyard technicians.

Ogbeifun further urged maritime companies to invest in developing their workforce instead of recruiting trained personnel from competitors.

Capt. Niyi Labinjo, moderator of the session, said stakeholders needed to move beyond discussions and establish mechanisms that would translate maritime policies into practical outcomes.

He called for regular engagement between regulators, operators and regional maritime organisations instead of relying mainly on annual industry events.

Mrs Tokunbo Jakande, NIMASA’s Head of Shipping Operations, identified fragmented governance and weak data sharing as operational challenges affecting the sector.

She said automation and innovation should be aligned with policy objectives, noting that NIMASA’s command, control, communication and computer systems already provide real time information on vessel movements and compliance.

Jakande said such data should be converted into actionable intelligence without introducing additional bureaucratic delays.

The Issues

The stakeholders’ concerns point to two major gaps in Nigeria’s maritime development: access to financing and the capacity to implement existing policies.

For indigenous operators, delayed CVFF disbursement can restrict vessel acquisition and limit expansion in domestic shipping. At the same time, shortages in specialised skills could reduce the sector’s ability to make effective use of new vessels, technology and infrastructure.

Regional integration also remains a challenge, with differences in language, systems and national approaches affecting cooperation among West and Central African maritime authorities.

What’s Being Said

“Policy without practice remains a document.” – Iroghama Ogbeifun

“Technology without skilled people cannot deliver results.” – Olimotou Malang

“There are enormous responsibilities before state procurement authorities; public procurement plays a critical role in budget implementation and the delivery of government projects at all levels.” – Abdulallateef Shittu

What’s Next

Ms Olimotou Malang, Director General of the Gambia Maritime Authority, called for stronger regional cooperation and proposed a single maritime window for West and Central Africa under the Maritime Organisation for West and Central Africa (MOWCA).

Dr Kingsley Igwe, Registrar of the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN), represented by Mr Peter Akunubi, also called for greater resilience during the transition to digital systems.

He said manual procedures remained necessary during system failures and disclosed that CRFFN was training freight forwarders in manual inventory procedures.

The stakeholders resolved that regional cooperation, capacity development and sustained engagement between government and the private sector were necessary to move maritime policies from paper to implementation.

Bottom Line

Stakeholders say faster CVFF disbursement, stronger skills development and better coordination are necessary to turn Nigeria’s maritime policies into practical gains for indigenous operators and the wider economy.

BPP links transparent procurement to FDI, economic growth

Key Points

• BPP says transparent procurement can attract foreign direct investment and support economic growth.
• New forum brings together heads of state public procurement regulatory authorities.
• Members urged to strengthen accountability, professionalism, efficiency and transparency across states.

Main Story

The Director General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, has linked transparent public procurement with increased foreign investment, economic growth and the development of domestic industries.

Adedokun made the remarks on Tuesday at the inauguration of the Forum of State Directors General of Public Procurement by the Nigeria Governors’ Forum (NGF).

He said a credible procurement system would support the Federal Government’s Renewed Hope Agenda by improving public sector delivery, living standards and efforts to reduce poverty.

The BPP chief described the creation of the forum as an important development in Nigeria’s procurement history and charged its members to ensure that public projects are implemented in line with due process, fairness and transparency.

The forum is expected to provide a platform for state procurement authorities to collaborate and contribute to reforms in public procurement at the subnational level.

The Director General of the NGF, Mr Abdulallateef Shittu, said the forum would contribute to efforts to recalibrate the economy, noting that procurement authorities have major responsibilities in the implementation of government budgets and delivery of public projects.

He urged members to maintain professional standards and ensure that procurement processes across the states are transparent and efficient.

The President of the Africa Development Studies Centre (ADSC), Dr Victor Oluwafemi, also welcomed the initiative, describing it as an important step towards strengthening procurement systems at the subnational level.

Represented by Dr Osahanze Idahosa, Oluwafemi said the centre was willing to partner with institutions working to improve Nigeria’s procurement systems.

He said state procurement systems were particularly important because they determine how policies translate into projects and services for citizens.

The Issues

Public procurement is central to how governments convert approved budgets into infrastructure, services and other public projects. Weak procurement processes can affect value for money, project delivery and public confidence, while stronger systems can improve accountability and the use of public resources.

The creation of a forum bringing together state procurement authorities could also provide a common platform for sharing professional standards, building capacity and coordinating procurement reforms across the states.

What’s Being Said

“There are enormous responsibilities before state procurement authorities; public procurement plays a critical role in budget implementation and the delivery of government projects at all levels.” – Abdulallateef Shittu

“Subnational procurement systems are where policy meets people, where transparency and value for money either take root or falter.” – Victor Oluwafemi

“We want a forum that does not merely meet, but delivers.” – Ehimoni Ibiyomi

What’s Next

The Chairman of the forum, Mr Ehimoni Ibiyomi, said the inauguration marked the beginning of a new institutional chapter for public procurement administration, regulation and professional practice at the subnational level.

He said the forum would pursue partnerships with relevant institutions and organisations and work towards building a strong, professional and collaborative platform for state procurement authorities.

Ibiyomi also stressed that the forum would operate through collective leadership and institutional cooperation rather than individual interests.

Bottom Line

The BPP says stronger transparency in public procurement can improve investment prospects and economic outcomes, while the new state procurement forum is expected to strengthen coordination and professional practice across the states.

African AI startups to receive up to $200,000 under new platform

Key Points

• Ten African AI startups will receive up to $200,000 each under the Askya AI Growth Platform.

• Selected founders will receive strategic guidance, market access and support to achieve product market fit.

• Participation is free and Askya Investment Partners will take no equity in the startups.

Main Story

Ten African AI startups are set to receive up to $200,000 each under the Askya AI Growth Platform, a new initiative aimed at helping technology companies build commercial traction and expand across the continent.

The programme, launched by Askya Investment Partners, will provide selected startups with funding, strategic guidance, market access and support to achieve product market fit.

Mr Tosin Eniolorunda, Chief Executive Officer of Moniepoint, will chair the first cohort and provide strategic guidance and market access to participating founders.

Eniolorunda said African entrepreneurs had the capacity to develop technology products for global markets but needed stronger support to turn innovative ideas into commercially successful businesses.

“Africans can build solutions for people all over the world, and AI may be the clearest opportunity yet to prove it.

“Our young founders are ready; what they need is execution support and access to real customers,” he said.

Moniepoint said the platform would give founders access to practical support as they develop their products, secure customers and prepare their businesses for expansion.

The programme is open to African AI native startups and will not charge participating companies or take equity in them.

Mr Babacar Seck, Founder and Managing Partner of Askya Investment Partners, said Eniolorunda’s experience building a technology company focused on African markets would contribute to the development of the participating founders.

He said the programme was designed to help startups achieve product market fit, strengthen commercial traction and position their businesses for expansion across Africa.

The initiative comes amid increasing interest in artificial intelligence as a potential source of economic growth, innovation and competitiveness across the continent.

Moniepoint cited an African Development Bank estimate that inclusive deployment of AI could contribute up to $1 trillion to Africa’s GDP by 2035.

Applications are open, with shortlisted candidates expected to be announced in October.

The Issues

African AI startups face the challenge of moving beyond developing technology products to finding customers, establishing sustainable business models and expanding into new markets.

The Askya platform is designed to address some of these gaps by combining funding with strategic guidance and access to customers and markets.

The decision not to take equity also allows participating founders to receive support without giving up ownership of their businesses.

What’s Being Said

“Africans can build solutions for people all over the world, and AI may be the clearest opportunity yet to prove it.” – Tosin Eniolorunda

“Our young founders are ready; what they need is execution support and access to real customers.” – Tosin Eniolorunda

What’s Next

Applications are open to African AI native startups, while shortlisted candidates are expected to be announced in October.

The first cohort will receive support under Eniolorunda’s chairmanship, including strategic guidance and market access.

Bottom Line

The Askya AI Growth Platform will provide 10 African AI startups with up to $200,000 each, alongside commercial and strategic support. The programme will be free to participants and will not take equity in the selected companies.

Russia rejects Germany’s claim over Leipzig airport drone incident

Key Points

• Russia says Germany has provided no independent evidence linking Moscow to the reported drone incident.

• Moscow calls the allegation unsubstantiated and urges a joint investigation into the incident.

• Russia says Germany’s subsequent diplomatic measures are disproportionate and risk worsening bilateral relations.

Main Story

The Russian Federation has rejected Germany’s allegation that Moscow was behind a reported drone incident at Leipzig/Halle Airport on Aug. 4, describing the claim as unsubstantiated.

The Russian Embassy in Nigeria made the position known in a statement issued by its Chargé d’Affaires, Igor Ivannikov, on Tuesday in Abuja.

Ivannikov said Germany had not provided technical or independent investigative evidence establishing that the drone involved in the incident originated from Russia.

He said Berlin’s claim that the incident formed part of a wider pattern of Russian hybrid operations was misleading.

According to him, Russian Foreign Minister Sergey Lavrov had also pointed out that Germany could not confirm the drone’s origin, despite suggesting that its configuration resembled equipment used by Russia.

Ivannikov argued that similar drone equipment could be produced in several countries and was commercially available, making its configuration insufficient to establish its origin.

He called for Germany and Russia to conduct a joint investigation to determine what happened.

The Russian diplomat said Germany’s decision not to pursue such an investigation raised questions about its approach to establishing the facts surrounding the incident.

He also criticised measures reportedly taken by Berlin, including the closure of the Russian Consulate in Bonn, restrictions on visas and sanctions, describing them as disproportionate to what Russia considers an unverified case.

Ivannikov said the actions could indicate an attempt to use the incident as a pretext for confrontation and further damage relations between Germany and Russia.

He maintained that the measures violated international law and the foundations of diplomatic relations.

The Russian embassy also criticised Germany’s continued military support for Ukraine, arguing that Berlin’s actions were contributing to further tensions between the two countries.

The Issues

The dispute centres on the evidence behind Germany’s attribution of the reported drone incident to Russia.

Moscow argues that the similarity between the drone’s configuration and equipment used by Russia does not establish its origin because comparable equipment can be produced elsewhere and is commercially available.

Russia is therefore calling for a joint investigation, while also objecting to diplomatic measures it considers excessive in relation to an incident whose origin it says has not been established.

The dispute adds another point of tension to already strained relations between Berlin and Moscow.

What’s Being Said

“Berlin’s investigations and intelligence saying that Russia was involved in the incident as part of a broader pattern of Russian hybrid operations, are misleading.” – Igor Ivannikov

“Germany’s failure to pursue such an investigation demonstrates a biased approach and a lack of genuine interest in establishing the facts surrounding the incident.” – Igor Ivannikov

“Such actions violate international law and the foundations of diplomatic relations.” – Igor Ivannikov

What’s Next

Russia is calling for a joint investigation by Germany and Moscow to establish the origin of the drone and determine the circumstances surrounding the incident.

The Russian side is also seeking an end to what it describes as disproportionate diplomatic measures linked to the allegation.

Bottom Line

Russia has rejected Germany’s claim linking Moscow to the Leipzig/Halle Airport drone incident, arguing that Berlin has not produced evidence establishing the drone’s origin. Moscow says a joint investigation is needed before responsibility can be determined.

MDGIF denies under remittance of gas flare penalty revenues

Nigeria Aims To Improve Oil, Gas Reserves - DPR

Key Points

• MDGIF says all gas flare penalty revenues due to the Fund are properly accounted for.

• The Fund says variances identified by the Auditor General reflect timing and reconciliation issues, not missing revenue.

• MDGIF has asked the Auditor General to review its position using relevant FAAC records.

Main Story

The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has denied claims that gas flare penalty revenues were under remitted, saying all funds due to it are properly accounted for.

Mr George Ene Ita, Director, Public Affairs Department, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), made the clarification in a statement on Tuesday in Abuja.

He said the issue arose from findings in the Office of the Auditor General of the Federation’s 2023/2024 Annual Report on Non Compliance and Internal Control Weaknesses.

Ene Ita explained that MDGIF does not collect gas flare penalties. The revenues are collected by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under its statutory mandate and paid into the Federation Account.

Funds due to MDGIF are subsequently transferred from the Federation Account into the Fund’s dedicated account with the Central Bank of Nigeria through the Federation Account Allocation Committee (FAAC).

He said the process was documented and that differences identified in the records did not mean that revenue had gone unaccounted for.

“The variances flagged in gas flare penalty remittances reflect timing and reconciliation across the multi agency Federation Account channel through which NUPRC collects and remits these funds, not unaccounted revenue,” he said.

Ene Ita said MDGIF had formally written to the Office of the Auditor General of the Federation and submitted relevant FAAC records in support of its position.

He stressed that the Fund’s statutory role was to receive revenues allocated to it and did not extend to collecting gas flare penalties.

As a result, he said any shortfall that may eventually be established in the collection or remittance process would fall under the responsibility of the relevant collecting agencies rather than MDGIF.

He added that reconciliation of revenues accruing to the Fund was being carried out jointly by the relevant petroleum sector regulatory institutions.

According to him, the process remains ongoing to ensure that any outstanding amounts are properly identified and accounted for.

Ene Ita also said MDGIF operated under a governance structure guided by its Investment Policy Statement and supervised by its Governing Council.

He said the Fund remained committed to meeting its obligations under Section 52 of the Petroleum Industry Act (PIA), 2021.

The Issues

The dispute centres on the accounting and remittance trail for gas flare penalty revenues, which involves several government institutions rather than MDGIF alone.

MDGIF says the Fund does not collect the penalties and only receives its statutory allocation after the revenues pass through the Federation Account and FAAC.

It therefore maintains that differences identified in the records should be resolved through reconciliation of the accounts and should not automatically be treated as missing revenue.

What’s Being Said

“The collections are remitted into the Federation Account, from where disbursements are made to MDGIF’s dedicated account with the Central Bank of Nigeria (CBN) through the Federation Account Allocation Committee (FAAC) at its monthly meetings.” – George Ene Ita

“This is a process that is well documented.” – George Ene Ita

“All transactions are duly authorised in accordance with this framework.” – George Ene Ita

What’s Next

MDGIF has asked the Office of the Auditor General of the Federation to review its position using relevant FAAC records.

The reconciliation of revenues accruing to the Fund is also continuing among the relevant petroleum sector institutions to establish and account for any outstanding amounts.

Bottom Line

MDGIF has rejected claims of under remittance of gas flare penalty revenues, saying the discrepancies identified in the audit report are related to timing and reconciliation across the Federation Account system. The Fund says the ongoing reconciliation will establish whether any outstanding amounts remain.

Economists urge more oil output, MSME support to sustain growth

COVID-19 Intervention Fund: 7,000 SME Owners, Artisans Captured

Key Points

• Economists call for higher crude oil production and stronger measures against disruptions to output.

• They urge greater government support for MSMEs and increased investment in agriculture.

• Nigeria’s economy grew by 4.43 per cent in Q2 2026, while crude production reached 1.72 million barrels per day.

Main Story

Economists have urged the Federal Government to build on Nigeria’s recent economic growth by increasing crude oil production, strengthening Micro, Small and Medium Enterprises (MSMEs) and investing more in agriculture and its value chains.

The economists made the recommendations in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Tuesday.

Prof. Sherifdeen Tella of the Department of Economics, Babcock University, said increasing crude oil output would provide further support for economic expansion, particularly as international oil prices remain elevated.

He urged the government to tackle activities undermining crude production and adopt innovative measures to raise output.

Tella also called for an increase in Nigeria’s export quota and adequate crude supply to Dangote Refinery, saying this would support domestic refining and strengthen economic activity.

He also advocated increased government funding for agriculture and its value chain, including measures to reduce production costs and food inflation.

According to him, stronger agricultural production would contribute to food security and social stability while supporting broader economic growth.

Prof. Ndubisi Nwokoma of the Department of Economics, Caleb University, focused on the need to improve conditions for MSMEs, which he said continued to face a difficult operating environment.

He said government policies were benefiting larger companies and multinational firms more than smaller businesses, which remain important to domestic economic activity.

Nwokoma urged the government to reduce the cost of governance and redirect resources towards supporting MSMEs.

He cited the experience of the Asian Tiger economies, saying their development was partly driven by policies that promoted smaller businesses.

His recommendations come against the backdrop of stronger economic growth recorded in the second quarter of 2026.

The National Bureau of Statistics (NBS) reported that Nigeria’s real GDP grew by 4.43 per cent year on year in Q2 2026, compared with 4.23 per cent in the same quarter of 2025.

Crude oil production increased to 1.72 million barrels per day, its highest level since 2022.

Agriculture also recorded stronger growth, expanding by 4.39 per cent compared with 2.82 per cent in Q2 2025.

However, industrial growth slowed to 3.96 per cent from 7.46 per cent in the corresponding quarter, while services expanded by 4.60 per cent compared with 3.94 per cent a year earlier.

The Issues

The economists’ recommendations point to the need to strengthen the sectors that can translate economic expansion into wider domestic activity.

Higher crude production could increase oil sector output, while greater domestic crude supply to local refineries could support the downstream petroleum industry.

Agriculture remains important for food supply and prices, making investment across production, processing and other parts of the value chain relevant to efforts to contain food inflation.

For MSMEs, the economists identified the operating environment and access to government support as major concerns. Their argument is that stronger support for smaller businesses could broaden the benefits of economic growth beyond large firms and multinationals.

What’s Being Said

“The government should be innovative in increasing crude oil output and address economic saboteurs undermining production, especially now that oil prices are on the rise globally.” – Prof. Sherifdeen Tella

“More funds should be earmarked to subsidise agricultural production and decelerate food inflation.” – Prof. Sherifdeen Tella

“The government needs to reduce the rising cost of governance and re-channel such funds to the growth of the MSME sector.” – Prof. Ndubisi Nwokoma

What’s Next

The economists want the Federal Government and sub national authorities to increase support for agriculture, improve crude oil production and create a more favourable operating environment for MSMEs.

Tella also wants the government to increase Nigeria’s export quota and ensure adequate crude supply to Dangote Refinery.

Bottom Line

Nigeria’s 4.43 per cent Q2 growth was accompanied by stronger crude oil and agricultural output, but economists say sustaining the expansion will require deeper support for oil production, agriculture and MSMEs. They argue that broader investment in these areas can strengthen food security and spread economic activity more widely.

Pi CNG boss says CNG availability key to affordable clean mobility

Key Points

• Pi CNG says reliable CNG supply is essential for making clean mobility affordable.

• Ahmed says government cannot finance the entire CNG value chain and needs private investment.

• He says transport costs account for 15 per cent to 25 per cent of household income in Nigeria.

Main Story

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi CNG/EV) says reliable availability of compressed natural gas (CNG) is essential to making clean mobility affordable for Nigerians.

Mr Ismaeel Ahmed, Chairman and Chief Executive Officer of Pi CNG/EV, said this on Tuesday in Abuja when members of the CNG/EV Users Forum visited his office.

Ahmed said the CNG industry required investment across the entire supply chain, from gas production and processing to transportation, compression and distribution.

He said the Federal Government was developing an industry rather than simply implementing an intervention in one part of the value chain.

According to him, Nigeria has the resources and technology required to develop CNG, but the challenge is to build supply while creating sufficient demand among consumers.

He said government had provided the political backing needed to make CNG a national project, after years in which its development was largely driven by private sector operators and remained limited in scale.

Ahmed said the need to reduce transport costs was particularly important because Nigerians spend between 15 per cent and 25 per cent of their income on transportation, depending on their location and mode of transport.

He said investors therefore needed to be encouraged to develop the infrastructure required to ensure that vehicle owners who convert to CNG can consistently access the fuel.

The Pi CNG boss said government could not fund the entire value chain because of the scale of investment required and competing demands on public resources.

He explained that investment was needed for gas production, pipelines, compression stations, transportation, daughter stations, land acquisition, licensing and filling stations.

Ahmed said misconceptions about CNG, including fears that its cylinders could easily explode like LPG cylinders, were also slowing adoption. He said sustained public awareness would be required to change existing perceptions and energy use habits.

He cited the experience of a vehicle owner travelling between Kano and Karai who previously spent about N300,000 weekly on petrol but now spends about N22,000 on CNG after converting the vehicle.

He said the reported savings demonstrated the potential economic benefit of CNG, although the initial conversion cost was about N1.5 million.

Ahmed stressed that the benefits of lower fuel costs should eventually be reflected in cheaper transportation for commuters and passengers, particularly those using commercial and ride hailing services.

He said the clean mobility initiative was not intended to immediately eliminate petrol and diesel, noting that Nigeria would continue to use a combination of energy sources, including CNG, electric vehicles, petrol and diesel.

The Issues

The availability of CNG is a major factor in determining whether vehicle conversion can deliver sustained savings for users.

Ahmed’s position is that affordability cannot be considered separately from access. A lower priced fuel offers limited benefit if motorists cannot reliably find it after investing in vehicle conversion.

Developing that access requires significant investment across the CNG value chain. The government therefore expects private sector participation alongside its role in supporting both demand and supply.

Public perception is another challenge. Concerns about CNG safety could discourage motorists from converting their vehicles, making awareness and user education important to wider adoption.

What’s Being Said

“Anything that is not available is not affordable. For it to be affordable, it has to be available.” – Ismaeel Ahmed

“Government catalyses. It catalyses on both ends, the demand side and the supply side.” – Ismaeel Ahmed

“Your GDP going up or down means nothing to me if the person in the village, town or suburb has not told me that he has seen some movement in his life. That is my economic index.” – Ismaeel Ahmed

What’s Next

Pi CNG/EV will continue engaging users and service providers through its stakeholder engagement mechanism, with feedback from users expected to inform improvements to the clean mobility programme.

The CNG/EV Users Forum also plans to document members’ experiences and develop recommendations on strengthening Nigeria’s CNG and EV ecosystem.

The forum is seeking continued engagement with Pi CNG/EV on public sensitisation, safety education, capacity development and other aspects of the programme.

Bottom Line

Pi CNG says making CNG affordable requires more than reducing its price. Reliable supply and sustained investment across the value chain are necessary for motorists and passengers to realise the economic benefits of the fuel.

New UN General Assembly president pledges to restore trust

Economic Growth Forecast For Latin America In 2021 Not Enough - UN

Key Points

• Khalilur Rahman says restoring public trust will be a priority during his tenure as UN General Assembly president.

• He says the organisation must adapt to a changing world and become fit for the future.

• Guterres says rebuilding trust in multilateral institutions is the defining challenge of the time.

Main Story

The incoming President of the United Nations General Assembly, Khalilur Rahman of Bangladesh, has pledged to rebuild public confidence in the UN as the organisation faces wars, humanitarian crises, geopolitical divisions and worsening climate change.

Rahman made the commitment on Tuesday at the opening of the 81st session of the General Assembly at the UN headquarters in New York.

He formally assumed the presidency after receiving the traditional Icelandic wooden gavel from outgoing President Annalena Baerbock.

Rahman outlined “Restoring trust, managing transformation: A United Nations that delivers for all” as the central theme of his tenure.

He said the organisation needed to respond to a world that had changed significantly since the UN was established in 1945, while ensuring that civil society voices were included in its work.

Rahman said declining confidence in the institution meant that the UN needed to adapt to present realities and improve its ability to deliver for people around the world.

UN Secretary General Antonio Guterres welcomed Rahman’s tenure while acknowledging the difficult circumstances in which the new General Assembly session begins.

He cited ongoing conflicts, geopolitical divisions, the risk of nuclear escalation, persistent poverty and inequality, as well as worsening climate pressures.

Guterres also identified the selection of the next UN secretary general, who is expected to begin a term in January 2027, as an immediate priority.

He said institutions of the multilateral system, including the UN Security Council and global financial institutions, were under increasing pressure and struggling to respond effectively to global challenges.

According to Guterres, violations of international law and human rights, coupled with geopolitical mistrust, were weakening confidence in international cooperation.

He nevertheless expressed optimism about the role of the General Assembly in addressing global challenges through diplomacy, dialogue and cooperation.

Baerbock, who concluded her term at the final meeting of the 80th session, defended the continued relevance of the UN despite its shortcomings.

She said millions of people continued to benefit from the organisation’s humanitarian, development and peacekeeping work, while warning that its positive contributions often receive less attention than negative developments.

The Issues

Rahman’s pledge comes as the UN faces questions over its ability to respond effectively to conflicts, humanitarian emergencies and other global challenges.

The concerns extend beyond the organisation itself to the wider multilateral system, with Guterres pointing to pressure on institutions responsible for international security and global finance.

The new presidency will therefore focus on restoring confidence while addressing demands for the UN to adapt to changing global realities.

The selection of the next secretary general will also form part of the agenda during the new General Assembly session.

What’s Being Said

“We must make the United Nations fit for the future.” – Khalilur Rahman

“We have a situation where trust is in deficit. This is not 1945. This is the 81st session. The world has moved on. The Organisation must move on, and I’ll help that process.” – Khalilur Rahman

“Rebuilding trust in the multilateral system is the defining challenge of our time.” – Antonio Guterres

What’s Next

Rahman will lead the 81st session of the General Assembly under the theme of restoring trust and managing transformation.

The Assembly will also face the task of selecting the next UN secretary general, whose term is due to begin in January 2027.

Bottom Line

Rahman has made restoring trust in the UN the central priority of his presidency as the organisation confronts conflict, humanitarian crises and growing geopolitical divisions. His agenda comes as the UN faces increasing pressure to demonstrate that multilateral cooperation can still deliver practical results.

Netanyahu denies UAE warned him of Hamas attack before October 7

Netanyahu's 12 Year Rule As Israel's PM Ends

Key Points

• Netanyahu’s office denies he received a direct warning from UAE President Mohammed bin Zayed before the October 7, 2023 attack.

• Haaretz reported that bin Zayed had warned Netanyahu that Hamas was planning a major offensive.

• The allegation has triggered fresh criticism of Netanyahu ahead of Israel’s October election.

Main Story

Israeli Prime Minister Benjamin Netanyahu has denied reports that United Arab Emirates President Mohammed bin Zayed warned him about a planned Hamas attack shortly before the October 7, 2023 assault.

Netanyahu’s office rejected the allegation on Tuesday, describing the reports as false and saying no warning was given to the prime minister by the UAE before the attack.

“The press reports are false,” the office said. “No warning was given to the prime minister from the United Arab Emirates before Oct. 7.”

The denial followed a report by Israeli newspaper Haaretz claiming that bin Zayed personally contacted Netanyahu about 10 days before the attack and warned him that then Hamas leader Yehya al Sinwar was preparing a major operation against Israel.

According to Haaretz, the two leaders spoke for about 45 minutes during a call from the UAE president’s palace in Abu Dhabi.

The report said bin Zayed warned that the planned assault could cause significant bloodshed, destabilise the region and threaten the Abraham Accords, which established diplomatic relations between Israel and several Arab states.

Haaretz further reported that Netanyahu reacted relatively calmly and told bin Zayed that Israel was prepared for any scenario. He reportedly considered the situation in the West Bank to be a greater concern.

The Times of Israel said it had independently confirmed the report, citing an unidentified Emirati source who also said bin Zayed had warned Netanyahu about the planned Hamas assault.

The UAE has not confirmed that the reported conversation took place. Its Foreign Ministry said it would not comment on reports or speculation concerning conversations between government leaders.

It said, however, that UAE and Israeli officials had maintained direct communication channels and that relevant intelligence had been exchanged when necessary.

The allegation has prompted criticism from Netanyahu’s political opponents, with former military chief Gadi Eisenkot accusing the prime minister of ignoring warnings before the October 7 attack.

“More and more signs point to the fact that Netanyahu blindly led Israel into the disaster of Oct. 7,” Eisenkot wrote on X.

The Issues

The dispute centres on whether Netanyahu personally received advance information about Hamas’s plans and, if such information was available, whether it was communicated to Israel’s security establishment.

Netanyahu’s office says no warning was given directly to the prime minister, while the Haaretz investigation maintains that bin Zayed personally warned him.

The issue has gained added political significance ahead of Israel’s general election next month, with Netanyahu facing renewed scrutiny over the security failures surrounding the October 7 attack.

What’s Being Said

“The press reports are false.” – Benjamin Netanyahu’s office

“No warning was given to the prime minister from the United Arab Emirates before Oct. 7.” – Benjamin Netanyahu’s office

“More and more signs point to the fact that Netanyahu blindly led Israel into the disaster of Oct. 7.” – Gadi Eisenkot

What’s Next

Netanyahu’s denial is likely to keep the issue at the centre of political debate ahead of the October election, while opposition parties are pressing for greater scrutiny of what the government knew before the attack.

The UAE has said it will not comment on speculation about conversations between its leaders and foreign officials.

Bottom Line

Netanyahu has denied receiving a direct warning from the UAE president about the October 7 Hamas attack, contradicting a Haaretz investigation that claims such a warning was made. The allegation has now become another point of political pressure on the Israeli prime minister ahead of the election.

UN seeks $1.3bn to contain Ebola outbreak in eastern DRC

'Nigeria Is At Risk Of Importing Ebola Virus' - NCDC

Key Points

• UN says Ebola continues to spread in eastern DRC, with more than 3,200 deaths reported.

• Revised response plan requires $1.3 billion over six months for surveillance, treatment and community engagement.

• WFP says food assistance must accompany medical intervention as conflict and hunger complicate the response.

Main Story

The United Nations (UN) has called for increased international support as Ebola continues to spread across the eastern provinces of the Democratic Republic of Congo (DRC), with more than 3,200 deaths reported.

UN spokesperson Stephane Dujarric disclosed this on Tuesday while briefing journalists at the UN headquarters in New York.

He said the DRC Government, alongside the World Health Organisation (WHO), Africa Centre for Disease Control and Prevention and other partners, had launched a revised multisectoral response plan requiring $1.3 billion over the next six months.

The plan is designed to expand surveillance, contact tracing, treatment, community engagement and preparedness activities as the outbreak continues to put pressure on affected communities.

Dujarric also said the UN Humanitarian Coordinator, Damien Mama, had begun a four day visit to North Kivu to assess the response and the wider humanitarian situation.

The Food and Agriculture Organisation (FAO) is also expanding its intervention in Ituri and North Kivu, where it is supporting veterinary surveillance and training to reduce the risk of transmission from animals to humans.

The agency is also providing affected communities with seeds, agricultural tools, poultry and cash assistance.

The wider humanitarian response remains severely underfunded. Dujarric said the $2.1 billion Humanitarian Response Plan for the country was only about half funded.

The World Food Programme (WFP) has separately called for greater international assistance, particularly for people facing hunger in remote communities that have limited access to Ebola treatment centres.

David Stevenson, WFP Country Director for the DRC, said the Ebola response could not be separated from the effects of conflict, displacement and food insecurity in eastern Congo.

He said more than 500,000 people in Ituri were classified at IPC Phase 4, one level below the classification associated with famine related mortality.

Stevenson said food shortages could make it difficult for affected communities to follow health measures because people struggling to feed their families may prioritise immediate survival needs.

The current outbreak, declared on May 15, is caused by the Bundibugyo species of the Ebola virus. WFP said it has recorded more than 5,500 cases and 2,642 deaths within its first 100 days, making it the fastest Ebola outbreak on record.

Eastern DRC has faced repeated outbreaks and prolonged conflict, with the country having recorded Ebola 17 times since the virus was first identified about five decades ago.

Stevenson said expanding Ebola treatment capacity and reaching people in remote rural communities remained among the major challenges facing the response.

He said poor roads and difficult terrain had complicated the delivery of assistance, although WFP had continued finding ways to reach affected communities.

The Issues

The Ebola outbreak is unfolding alongside longstanding conflict, displacement and severe food insecurity in eastern DRC, creating additional challenges for disease control.

WFP says people who cannot access adequate food may struggle to comply with health protocols, making food assistance an important part of the community response.

Access is another challenge, particularly in remote rural areas where poor roads make it difficult to deliver both medical and food assistance.

The scale of the funding gap also remains a concern. The Ebola response requires $1.3 billion for six months, while the wider $2.1 billion humanitarian plan remains only about half funded.

What’s Being Said

“Ebola is a health crisis; there’s no question about that.” – David Stevenson, WFP Country Director for the DRC

“But at the same time, since Ebola is in eastern Congo and that area is so tragically affected by conflict, by food insecurity, by displacement, it needs to have a comprehensive approach.” – David Stevenson, WFP Country Director for the DRC

“I’m stunned that we don’t have the response from the international community directly supporting the food assistance that’s needed so that collectively we can end Ebola.” – David Stevenson, WFP Country Director for the DRC

What’s Next

The revised Ebola response plan will expand surveillance, contact tracing, treatment, community engagement and preparedness activities over the next six months.

The UN Humanitarian Coordinator is also assessing response efforts and the wider humanitarian situation during a four day visit to North Kivu.

WFP is seeking additional funding to expand food assistance, particularly in remote rural communities, while efforts continue to increase access to Ebola treatment centres.

Bottom Line

The UN says containing Ebola in eastern DRC will require a broader response that addresses both the disease and the food insecurity, conflict and displacement affecting vulnerable communities. It is seeking additional resources as both the Ebola response and wider humanitarian operation face major funding gaps.

ACCI proposes ‘Operation No Idle Land’ to boost food production

ACCI President Urges FG To Address Rising Inflation

Key Points

• ACCI proposes a national framework to promote productive use of underutilised land.

• The chamber wants government to support agriculture with finance, infrastructure, security, technology and market access.

• It calls for a national stakeholders’ summit to establish a legally sound framework for productive land use.

Main Story

The Abuja Chamber of Commerce and Industry (ACCI) has called on the Federal Government to introduce a national policy encouraging the productive use of underutilised land for agriculture, agribusiness and other approved economic activities.

Dr Olasetemi Thompson, Vice President, Agriculture, ACCI, made the proposal in an open letter to President Bola Tinubu on Tuesday in Abuja.

Thompson proposed an initiative known as “Operation No Idle Land”, which he said should provide a national framework for bringing underutilised land into productive economic use.

He said Nigeria had significant agricultural potential because of its arable land, favourable climate and large youthful population. However, he noted that access to land alone would not be enough to increase food production without financing, infrastructure, technology, security, knowledge and reliable markets.

Under the proposed framework, landowners could be encouraged to cultivate their properties or lease unused land to farmers, cooperatives and investors. Organised agricultural schemes could also bring together land, capital, technology and market access to improve productivity and develop stronger agricultural value chains.

Thompson stressed that any government action on land must comply with constitutional and statutory provisions, while protecting legitimate property rights and ensuring due process.

He also proposed a national digital land audit and mapping exercise to identify underutilised land and provide information for investment and development planning.

The ACCI official recommended the creation of land banks and agricultural clusters where farmers, cooperatives, investors and agro processors could operate within integrated production systems.

He said priority areas for government intervention should include agricultural finance, irrigation, mechanisation, improved seeds, fertiliser, extension services, research, training and technology adoption.

Infrastructure for storage, processing and rural transportation should also receive attention, while stronger security around farming communities, agricultural investments and supply routes would be necessary to sustain production.

The Issues

The proposal addresses the gap between Nigeria’s available agricultural land and its capacity to turn that land into sustained food production and economic activity.

ACCI’s position is that productive land use depends on more than making land available. Farmers and investors also require financing, infrastructure, technical support, security and access to markets.

The chamber also sees organised production systems as a way to connect landowners, farmers, investors and agro processors while improving agricultural value chains.

It further proposes deliberate measures to increase the participation of young people and women by improving their access to land, finance, technology, training and markets.

What’s Being Said

“Organised agricultural schemes could also aggregate land, capital, technology and market access to improve productivity and strengthen value chains.” – Dr Olasetemi Thompson

“Farmers and investors require financing, infrastructure, technical support, security and access to markets.” – Dr Olasetemi Thompson

What’s Next

ACCI wants the Federal Government to convene a national stakeholders’ summit involving federal, state and local governments, farmers, investors, financial institutions, research bodies and development partners.

The proposed summit would develop a practical and legally sound framework for productive land use and food security.

ACCI also wants the programme to be monitored against measurable targets, including hectares cultivated, food output, jobs created, investment attracted and reductions in post harvest losses.

Bottom Line

ACCI wants Nigeria to move beyond land availability by creating systems that bring underutilised land, finance, technology and markets together to increase food production and create jobs.