News Rider

BY CHIKA OKEKE, Abuja An asset management firm, Foremost Capital Limited has committed to attaining world-class standards at all levels of its business operations. This was even as the company raised its assets by 250 per cent from July to December 2025. Managing Director/CEO of Foremost Capital Limited, Emmanuel Akehomen said in Abuja, that the company also secured a BBB+ rating from DataPro, a leading credit rating agency.  BBB+ credit rating is a medium investment-grade scored by major rating agencies, indicating that a company or government can pay its debts, but bad economic changes could upturn the company's safety. Akehomen stated that DataPro’s BBB+ rating provided an independent assessment of its financial strength and operating capacity, a strong liquidity position, supporting its ability to meet financial obligations and manage client investment activities. He said that the rating demonstrated the company’s growing presence and capacity within the investment ...

BY CHIKA OKEKE, Abuja L-R: Minister of State for Works, Rt. Hon. Bello Goronyo; Ogun State Governor, Prince Dapo Abiodun; and Minister of Works, Engr David Umahi at the commencement of the dualisation of 56.5km Ibadan–Ijebu Ode road in Ogun State recently.  The Federal Government has ruled out temporary repairs on strategic project, subscribing to permanent dualisation that will terminate gridlocks and frustrations encountered by motorists and other road users. This played out at the commencement of the dualisation of 56.5km Ibadan–Ijebu Ode road in Ogun State.  Minister of Works, Engr David Umahi confirmed that the project marked a decisive shift from temporary fixes to the delivery of durable infrastructure under  President Bola Ahmed Tinubu's administration. ” Umahi described the Ibadan–Ijebu Ode road as more than an ordinary road construction, but a deliberate economic intervention project.  The dualisation will open up new economic opportunities acro...

BY CHIKA OKEKE, Abuja Vice President Kashim Shettima Vice President Kashim Shettima has taken a firm stance to resolve Nigeria's poor geographical identity to attract more investment and address insecurity in the country.  This will be achieved by making locations more identifiable through the establishment of Digital Addressing System.  Already, the VP has ratified a framework for the actualisation of Nigeria’s vision to build a digital and modern addressing system for the country. Under the new arrangement, the Federal Ministry of Science, Technology and Innovation will serve as Secretariat for greater efficiency and coordination, while other agencies will synergise efforts to achieve set objectives. The decision was formalised at a meeting of National Addressing Council ,NAC, in Abuja, attended by key members and stakeholders in the public and private sectors.  He said: "Under the Renewed Hope Agenda, our duty is to build institutions that match the energy ...

BY CHIKA OKEKE, Abuja Galaxy Backbone Limited, GBB, has sought sustained investment to expand its fibre network, data centres and cybersecurity capabilities given the increased demand for digital services. Managing Director of GBB, Prof. Ibrahim Adeyanju stated this on Monday when the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, visited its headquarters in Abuja. Adeyanju requested for private-sector partnerships and appropriate policy support to enable GBB to connect more institutions, strengthen digital infrastructure, reduce duplication and improve public service delivery. He disclosed that every Naira invested in digital infrastructure represents an investment in productivity, innovation, economic growth and national development, promising that GBB remained committed to delivering greater value to Nigeria and Nigerians. While describing the organisation as a critical component of Nigeria’s digital infrastructure ecosystem, he noted tha...

BY CHIKA OKEKE, Abuja About 31 companies that emerged winners of 37 oil and gas blocks in the 2025 Licensing Round may lose their provisional awards to the reserve bidders over outstanding debt. Part of the blocks are PPL 2A29 to PPL 2A62 in the Niger Delta, PPL 2010 in the deep offshore, PPL 308 in the Benin Basin, PPL 900 to PPL 903 in the Anambra Basin, PPL 700 in the Chad Basin and PPL 800 and PPL 801 in the Benue Trough. But the 37 blocks offered in the licensing round comprise Petroleum Prospecting Licences, covering the Niger Delta onshore, shallow water and deep offshore areas, like frontier basins. While a total of 143 companies participated in the licensing round, about 200 bids were submitted for the 37 blocks. However, 13 of the 50 blocks initially put up for bidding attracted no bids. Stressing the consequences of their action, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, had on Sunday issued a notice, reminding the 31 companies of the implicat...

BY CHIKA OKEKE, Abuja The Bureau of Public Procurement, BPP, has canvassed the engagement of civil society organisations, CSOs, in monitoring public procurement systems to entrench accountability and enhance transparency in procurement processes. Director-General of the BPP, Dr Adebowale Adedokun stated this on Friday, at the inaugural forum of the Advocate for the Promotion of Transparent Procurement Initiative, APTPI, in Abuja. He enjoined the CSOs to serve as independent observers by monitoring procurement processes, documenting their findings and submitting credible observations to appropriate authorities. Adedokun informed that procurement should not be treated merely as an administrative procedure but as a tool for delivering Nigeria’s broader economic and social development objectives. “An effective procurement system promotes value for money, competition and sustainable development. Stronger procurement outcomes will also improve citizens’ confidence in government,”...