News Rider

BY CHIKA OKEKE, Abuja The African Export-Import Bank (Afreximbank) has approved a $28 million dual-tranche facility for the leading Uganda-based engineering, procurement and construction (EPC) contractor, DOTT Services Limited. This is even as the bank has commenced disbursing funds to support the execution of its EPC projects pipeline, valued at more than $550 million. Provided under Afreximbank’s EPC Contract Promotion Initiative, the facility is designed to strengthen the capacity of African EPC champions to secure and execute large-scale infrastructure projects across the continent. The financing is intended to support DOTT Services Limited in executing contracts and pursuing near-term opportunities valued at approximately $550 million across Uganda, Tanzania, Kenya and the Democratic Republic of Congo. Director of Regional Operations at Afreximbank’s Eastern Africa office, Mr. Humphrey Nwugo noted that the intervention reflected Afreximbank’s commitment to building str...

BY CHIKA OKEKE, Abuja The Federal Ministry of Industry, Trade and Investment (FMITI) is strengthening support for young entrepreneurs through funding and policies to expand Nigeria’s creative industry, while attracting investors to the country. Permanent Secretary of FMITI, Dr Chris Isokpunwu, who stated this at the Creative Africa Nexus (CANEX) WKND2026, in Lagos, was optimistic that the event provided an opportunity to showcase Nigerian businesses, promote export-ready products and attract foreign investment. The PS hinted that the government is prioritising non-oil exports, job creation and youth participation in the creative economy, just as he was satisfied with the level of preparedness and the participation of organisations from Nigeria and other countries. Isokpunwu added: “The CANEX is strengthening support for young entrepreneurs through funding and policies to expand Nigeria’s creative industry as well as attracting investors to the country.” He disclosed that th...

BY CHIKA OKEKE, Abuja The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has called on Nigerians to patronise locally made products especially during the forthcoming festive season, to support Small and Medium-sized Enterprises (SMEs). Director-General and Chief Executive Officer of SMEDAN, Charles Odii stated this at the ongoing 2026 GROW Nigerian Conference holding at the Ecobank Pan African Centre in Victoria Island, Lagos. He said: “We are inviting people to come and shop Nigerian. As you prepare for the festive season, there is an opportunity to discover something new, buy directly from local businesses and help an entrepreneur finish the year stronger.” With the theme: “GROW Nigerian: The Next Frontier for Innovation, Policy and Market Access”, the conference is designed to connect entrepreneurs with the skills, financing, markets and institutional support required to establish and expand sustainable businesses. It featured sessions on event manag...

BY CHIKA OKEKE, Abuja L-R: Managing Director/Chief Executive of Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi; a guest; and Director of the Housing Development Advocacy Network (HDAN), Barr. Festus Adebayo at the 2026 Mortgage Finance Roundtable 2.0 and Annual Conference in Abuja.   The Federal Mortgage Bank of Nigeria (FMBN) is currently reviewing some of its existing lending conditions for Primary Mortgage Banks (PMBs) and individuals to make its processes more flexible and responsive to market realities without compromising prudent risk management. This is even as the bank highlighted opportunities for collaboration in mortgage origination, customer outreach, product distribution and servicing, as well as ongoing efforts to examine Mortgage Banking Association of Nigeria (MBAN) proposed blended finance framework. Managing Director/Chief Executive of FMBN, Shehu Usman Osidi stated this while speaking at the 2026 Mortgage Finance Roundtable 2.0 and Annual ...

BY CHIKA OKEKE, Abuja Mr Joseph Tegbe The Federal Government has explained why several critical power projects remain incomplete for over two decades, despite efforts by the government to resolve the electricity crisis in the country. Minister of Power, Joseph Tegbe disclosed this in Lagos during a joint briefing with the Comptroller-General of Customs, Adewale Adeniyi, where he flagged off the release of the first 44 containers at ENL Terminal. Tegbe linked the delayed projects to the prolonged abandoned equipment at the Nigerian Ports, which automatically obstructed the expansion and rehabilitation of the national transmission network. He described the release of the stranded equipment as a significant step towards addressing longstanding gaps in Nigeria’s electricity transmission infrastructure, explaining that the materials were originally procured to strengthen substations, expand transmission capacity and improve the evacuation of electricity generated from power plan...

BY CHIKA OKEKE, Abuja L-R: Director of SDD, Dr Aristotle Onumo receiving a Certificate of Appreciation on behalf of the DG NITDA at the CVCNU Secretariat in Abuja The National Information Technology Development Agency (NITDA) has implored the Universities to embrace digital transformation as a strategic pathway to strengthen financial governance, transparency, accountability, and institutional efficiency in alignment with President Bola Ahmed Tinubu's Renewed Hope Agenda.  Director General of NITDA, Kashifu Inuwa stated this while making a presentation on “Strengthening Financial Governance and Risk Management in Nigerian Universities”, organised by the Committee of Vice Chancellors Training Institute (CVCTI) in Abuja.  He emphasised that the effective application of technology in university administration goes beyond acquiring digital tools, requiring a fundamental transformation of institutional processes, leadership, organisational culture and individual behavio...