News Rider

BY CHIKA OKEKE, Abuja The Minister of Works, Engr David Umahi has unveiled a committee, mandated to  identify, document, compile, and publicise infrastructure projects executed by the Federal Government across Ministries, Departments and Agencies (MDAs).  Inaugurating the committee in Abuja, Umahi described the event as an opportunity to foster collaboration, mutual understanding, and effective working relationships among members, as they pursue their assigned responsibilities. He enjoined members to approach their duties with a shared sense of purpose, commitment, and cooperation, emphasising the importance of coordinated engagement in communicating infrastructure-related developments and their impact on Nigerians. The minister revealed that although the Federal Ministry of Works accounts for a significant proportion of the Federal Government’s infrastructure investments, the team’s coverage should extend to other MDAs for a comprehensive account of infrastructure...

BY CHIKA OKEKE,  Abuja L-R: Director-General of National Biotechnology Research and Development Agency (NBRDA), Prof. Abdullahi Mustapha and Registrar of Environmental Health Council of Nigeria (EHCON), Dr Yakubu Mohammed Baba displaying a Memorandum of Understanding (MoU) and a Memorandum of Agreement (MoA) between both agencies to deploy biogas technology to Abattoirs in Abuja.  The Federal Government has formalised plans to deploy biogas technology for effective management of abattoirs and other related facilities, designed to promote sustainable waste management practices. This formed the crux of discussions during the signing of a Memorandum of Understanding (MoU) and a Memorandum of Agreement (MoA) between Environmental Health Council of Nigeria (EHCON) and National Biotechnology Research and Development Agency (NBRDA) in Abuja.  The MoU is expected to strengthen cooperation in the application of biotechnology, while protecting the  environmental an...

BY CHIKA OKEKE, Abuja The Federation Account Allocation Committee (FAAC) has shared the sum of N2.428 trillion as September 2026 revenue to the Federal Government, States and the Local Government Councils. This was even as the N2.428 trillion revenue comprised distributable statutory revenue of N1.672 trillion and distributable Value Added Tax (VAT) revenue of N756.587 billion. Director of Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa said on Thursday, that the revenue was shared at the October 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja. A communiqué issued by the FAAC revealed that the total gross revenue of N3.913 trillion was available in the month of September 2026. Total deduction for cost of collection was N131.758  billion, while total transfers, refunds and savings was pegged at N1.352 trillion. This is in addition to gross statutory revenue of N3.096 trillion received for the month of S...

BY CHIKA OKEKE, Abuja The Securities and Exchange Commission (SEC) has advanced plans to provide pensioners with safer and better-rewarded retirement savings through the Nigeria Capital Market Master Plan (NCMMP) 2.0.  This is even as the master plan would deepen the investor base, strengthen institutional capacity and promote professional development. ⁠⁠‍‍‍‌⁠‍‌Director-General of SEC, Dr Emomotimi Agama said yesterday in Abuja, that the NCMMP 2.0 intends to raise the portfolio of the market from N250 trillion to N750 trillion. The NCMMP 2026–2036 is a 10-year strategic blueprint for developing Nigeria’s capital market, which aligned with Nigeria Agenda 2050 and the Renewed Hope Development Plan (2026–2030). Agama explained that the plan would outline how Nigerians’ savings could become a major driver of national economic growth, while promoting regulatory clarity, coordination and enforcement, modernising market infrastructure, and diversifying products and issuance. H...

BY ATHAN AGBAKWURU, Owerri  One of Nigeria's leading oil and gas firm, Seplat Energy has added a boost to its commitment to climate action and environmental sustainability, with the planting of 200,000 trees. The company' in its Social Performance Report 2026, made available to newsmen, hinted that planting the 200, 000 trees reinforces the company's ambition to establish one million trees by 2030. The report indicated that: 'The Tree4Life Programme' is a flagship reforestation and biodiversity conservation initiative that combines environmental restoration with community development.  According to the report, the programme established nurseries containing more than 175,000 seedlings and trained more than 300 community members in tree planting, nursery management and sustainable land-use practices. The initiative continues to deliver meaningful socio-economic benefits as more than 350 community members have been engaged through various project activities...

BY CHIKA OKEKE, Abuja L-R: Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso and Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele at the ongoing IMF-World Bank Annual Meetings in Bangkok recently. The Federal Government has beckoned on investors with mouth-watering packages, underscoring its commitment to create jobs and accelerate  economic growth. Valued at $78.5 billion, the 65 projects cut across the key economic sectors such oil and gas, power, transport, agriculture, manufacturing, mining, technology, healthcare and urban services. These were highlighted at the ongoing IMF-World Bank Annual Meetings in Bangkok, by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, and the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso.  Oyedele disclosed that a dedicated deal room was established to provide investors with project details, funding requirements and direct access to...