News Rider

BY CHIKA OKEKE, Abuja Heads of State of ECOWAS Member States have endorsed the African Atlantic Gas Pipeline, AAGP, project, with the official signing of Intergovernmental Agreement, IGA, for the speedy actualisation of the project. Signed at the ECOWAS Summit in Freetown, Sierra Leone, the AAGP is a transformative regional infrastructure project designed to unlock West Africa’s vast natural gas resources, connect them to major demand centres, integrate African energy markets, and establish a strategic development corridor linking West Africa, the Sahel, Morocco, and Europe. Designed to deliver 30 billion cubic metres of gas per year, the project has sovereign backing from Nigeria, Morocco, ECOWAS member countries, and Mauritania, and spans nearly 6,900 kilometres along the West African Atlantic coast. Jointly led by NNPC Ltd and Morocco’s Office National des Hydrocarbures et des Mines, ONHYM, the project is intended to strengthen energy access, drive industrialisation, and...

BY CHIKA OKEKE, Abuja L- R: Executive Commissioner of Technical Services, NCC Engr. Abraham Oshadami; Director General, Department of Communications and Digital Technologies, South Africa, Ms Nonkqubela Jordan-Dyani; Executive Vice Chairman/CEO, NCC, Dr Aminu Maida; Secretary General African Telecommunications Union, ATU, Mr. John Omo and Permanent Secretary, Federal Ministry of Communications Innovation and Digital Economy, Engr. Nadungu Gagare during the 7th Ordinary Session of Plenipotentiaries in Abuja. The Nigerian Communications Commission, NCC, has disclosed that effective partnership among African countries will transform global telecommunications and digital economy policies. This was even as the Agency informed that Africa’s influence in international forums depends on the quality of its preparation, coherence of its positions, and consistency with which member states advance shared priorities. Executive Vice Chairman and Chief Executive Officer of the...

BY CHIKA OKEKE, Abuja The Federal Government has stated that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round will be returned to the licensing basket after failing to attract bids by investors. Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Oritsemeyiwa Eyesan stated this on Tuesday at the 2025 Commercial Bid Conference in Abuja. He informed that while 50 blocks were offered for bidding that only 37 received attention from prospective investors. “At the end of the exercise, we had 50 blocks on offer, but we only had representation for 37 of those 50 blocks. Thirteen of those blocks will be returning back to the basket,” she said. She hinted that 143 companies indicated interest out of the 200 blocks set aside for bidding, describing it as remarkable. “We have a total of 143 companies showing interest for 200 bids. That, for us, was remarkable, and I must say thank you,” Eyesan added. She pointed out that almost 300 co...

BY CHIKA OKEKE, Abuja Olayemi Cardoso  For the second consecutive time, the Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR, also known as benchmark interest rate, at 26. 5 per cent CBN Governor, Olayemi Cardoso disclosed this on Tuesday shortly after the 306 th Monetary Policy Committee, MPC, meeting in Abuja. He said: “The Committee decided as follows: retain the monetary policy rate at 26.5 per cent. “The committee’s decision to maintain the current policy stand follows a thorough assessment of the balance of risk. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened due mainly to the renewed hostilities in the Middle East.” In May this year, the apex bank pegged the interest rate at 26. 5 per cent and retained all standing facilities around the MPR corridor. The Bank’s latest decision to retain the interest rate followed the previous MPC briefing, and a 50-basis-point cut announced in February ...

BY CHIKA OKEKE, Abuja Following the Central Bank of Nigeria’s No Objection approval, the Coronation Merchant Bank has announced the appointment of Obeahon Ohiwerei as its Managing Director and Chief Executive Officer to enhance growth. Ohiwerei succeeds Paul Abiagam, whose leadership has guided the Bank through an important period of strategic transformation and positioned it strongly for its next phase of growth. The appointment comes at a defining moment in the Bank’s evolution. Earlier this year, Coronation Merchant Bank celebrated its tenth anniversary, successfully exceeding the Central Bank of Nigeria’s minimum capital requirements, strengthened its governance framework, accelerated the digitisation of key operating processes, and achieved a Fitch Ratings assessment of Long-Term Issuer Default Rating, IDR, at ‘B- ‘with a Stable Outlook. Collectively, the milestones reinforced the Bank’s strategy of disciplined growth, prudent risk management and sustainable value crea...

BY CHIKA OKEKE, Abuja L-R: Acting Secretary of the Nigerian National Merit Award, NNMA, office, Mercy Musa and Comptroller-General of Customs Service, NCS, Adewale Adeniyi displaying a booklet when NNMA’s management team visited the Service’s Headquarters in Abuja recently. The Comptroller-General of Customs Service, NCS, Adewale Adeniyi has pledged to assist the Nigerian National Merit Award, NNMA, office for identifying and rewarding excellence in Nigeria. He made the pledge in Abuja, when the Acting Secretary of the NNMA, Mercy Musa, led members of the management team on a courtesy visit to the Service’s Headquarters in Abuja. Describing the NNMA as an important institution for promoting excellence in national life, Adeniyi stated that recognising outstanding Nigerians would inspire younger generations to understand that greatness is achieved through hard work, commitment and innovation. He said: “What we are doing is so important because we want the younger generations ...