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RMRDC Bolsters Raw Materials Research, Unveils Digitalised Int’l Journal

BY CHIKA OKEKE, Abuja Director-General of RMRDC, Prof Nnanyelugo Ike-Muonso, 3 rd R, in a group photograph with stakeholders during the launch of the Journal of Raw Materials Research, JORMAR, in Abuja. In line with its mandate to bolster research, the Raw Materials Research and Development Council, RMRDC, has unveiled an international journal with a global editorial structure and modern publishing standards. The Journal of Raw Materials Research, JORMAR, has now migrated to a fully digital, open-access publishing platform that supports online manuscript submission, double-blind peer review, editorial processing, publication and long-term archiving. Transformed from a locally circulated publication into a global journal, the newly launched, JORMAR, is intended to promote research on Nigeria’s raw materials and strengthen the link between scientific innovation, industry, and national development. It was first published in 2004, became inactive after its last print edition in...
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Court Orders Final Forfeiture Of 52 Houses in Lagos

Justice Alexandra Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, July 15, 2026, ordered the final forfeiture of 52 terrace and maisonette  units located in the Lekki area of Lagos. The properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lagos, were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited. The judge gave the order, following a Motion on Notice filed and argued by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission, EFCC, through its counsel, Franklin Ofoma. The Commission had, on August 14, 2024, secured the interim forfeiture of the properties through an order granted by Justice Akintayo Aluko, following an ex parte application filed by the EFCC through its counsel, Ofoma.  The order was made in favour of one  Dr. Kennedy Okonkwo, a real estate developer and Chief Executive Officer of Capital Gardens Limited. In his ruling, Justice Aluko al...
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Prudent Financial Management, Crucial For Quality Infrastructure-Umahi

BY CHIKA OKEKE, Abuja The Minister of Works, Engr. David Umahi has stated that prudent financial management, value engineering, strict adherence to due process, effective project supervision, and transparent procurement practices are crucial in delivering quality infrastructure. This was even as he disclosed that the Ministry has institutionalised several accountability measures, including rigorous project monitoring, improved supervision, collaboration with the National Assembly and anti-corruption agencies, as well as continuous capacity building for engineers and project superintendents to enhance nationwide project delivery. He disclosed this at an Interactive Session on: “The Role of Parliamentarians in the Fight Against Corruption,” organised by the Independent Corrupt Practices and Other Related Offences Commission, ICPC, at its headquarters in Abuja. The Minister reaffirmed the Ministry’s commitment to transparency in procurement, explaining that contracts are awar...
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FMBN Records Success Stories On Mortgages, Affordable Housing

BY CHIKA OKEKE, Abuja Managing Director/Chief Executive of Federal Mortgage Bank of Nigeria, FMBN, Shehu Usman Osidi addressing participants during the third edition of FMBN Day in Abuja recently. The Federal Mortgage Bank of Nigeria, FMBN, has recorded success stories in the provision of mortgages to Primary Mortgage Banks, PMBs, for onward disbursement to National Housing Fund, NHF, contributors. Managing Director/Chief Executive of, FMBN, Shehu Usman Osidi stated this during the third edition of FMBN Day, at the 20th edition of Africa International Housing Show, AIHS, in Abuja, where discussions centered on practical strategies for expanding access to affordable housing, particularly for low-income and informal sector workers. Osidi hinted that partnerships had become the most sustainable pathway to delivering affordable housing at scale, stressing that no single institution could address Nigeria's housing deficit alone. ‎"Partnerships deliver results. Partnersh...
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Customs Disburses N7.61bn To PFAs For 4,237 Retirees

BY CHIKA OKEKE, Abuja Comptroller-General of Customs, Adewale Adeniyi receiving a compliment during a dialogue with retirees of the Service in Abuja recently. Committed to improving the welfare of senior citizens, the Nigeria Customs Service, NCS, has disbursed N7.61 billion to nine Pension Fund Administrators, PFAs, for payment to 4,237 retirees of the Service. During a dialogue with retirees of the NCS in Abuja, Comptroller-General of Customs, Adewale Adeniyi stated that the funds were released to the PFAs for onward payment into the retirees’ individual accounts. A breakdown of the funds revealed that Access-ARM Pension Managers accounted for 1,223 beneficiaries, Premium Pension 2,268, Leadway Pensions 403, TrustFund Pensions 156, FCMB Pensions 144, Veritas Glanvills Pensions 28, Norrenberger Pensions 11 and Fidelity Pension Managers four, bringing the total number of beneficiaries to 4,237. Adeniyi noted that the Service must remain strong and financially capable of mee...
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Investors To Flock Nigeria As RMRDC Proposes 30% Value Addition Bill

BY CHIKA OKEKE, Abuja Prof Nnanyelugo Martin Ike-Muonso Investors are set to flock to Nigeria as the proposed bill mandating a minimum of 30 percent value addition to all exportable raw materials would attract Foreign Direct Investment, FDI, into local processing industries. When passed into law, investors who currently process Nigerian raw materials abroad would be encouraged to establish processing facilities within the country, a move that will facilitate technology transfer, strengthen local manufacturing, promote import substitution and create employment opportunities. In a chat with newsmen on Friday, the Director-General of the Raw Materials Research and Development Council, RMRDC, Prof Nnanyelugo Martin Ike-Muonso noted that scientists and researchers will visit Nigeria in droves to identify additional raw materials and develop new processing technologies. He said: “The bill also proposes restrictions on the importation of raw materials that are readily available in...
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Inflation Rate Drops To 15.91% In June

BY CHIKA OKEKE, Abuja Nigeria’s headline inflation rate dropped to 15.91 per cent in June 2026, down from 15.93 per cent recorded in May of 2026. The decline marked the first drop in the country’s headline inflation rate in three months, just as the Central Bank of Nigeria, CBN, prepares to decide on the interest rate next week. The National Bureau of Statistics, NBS, in its Consumer Price Index, CPI, report released on Wednesday, revealed that the June 2026 inflation rate decreased by 0.02 percentage points, compared to the rate recorded in May. The agency stated that on a month-on-month basis, the headline inflation rate stood at 1.66% in June 2026, approximately 0.09 percentage points lower than the 1.75% recorded in the previous month of May. “The June 2026 headline inflation rate showed a decrease of 0.02% compared to the May 2026 headline inflation rate,” the bureau said. “This means that in June 2026, the rate of increase in the average price level was lower than the...
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