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BY CHIKA OKEKE, Abuja L-R: President of the Nigerian Institute of Quantity Surveyors, QS Dr. Aminu M. Bashir and Director-General, Bureau of Public Procurement (BPP), Dr. Adebowale A. Adedokun when the Management Team of NIQS visited his office in Abuja.  The President of the Nigerian Institute of Quantity Surveyors, QS Dr. Aminu Bashir has praised the Bureau of Public Procurement, BPP, for introducing reforms that will prevent corruption in the procurement ecosystem. This was even as he reaffirmed the institute’s firm and unreserved support for the reform agenda, adding that the NIQS is willing to support the Bureau’s reform agenda of ‘Value-for-Money’. He stated this during a visit to the headquarters of BPP on Tuesday in Abuja. The NQIS had supported the recent Guidelines on the Revised Policy for Variations of Contract Sums and the Mandatory Use of Final Designs of May 2026. Bashir harped on the need to partner with BPP in cost management, adding that NIQS is Nigeri...

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 ...

BY CHIKA OKEKE, Abuja The Director General of National Identity Management Commission, NIMC, Dr Abisoye Coker-Odusote has disclosed that digital identity infrastructure will enable the government agencies to foster greater transparency in public administration, build more reliable databases and improve service delivery. She stated this when she led a delegation of NIMC management on a courtesy visit to the Ministry of Solid Minerals Development headquarters in Abuja. Coker-Odusote noted that the newly enacted NIMC Act had positioned Nigeria to fully embrace a digital governance ecosystem. She informed that deeper integration of identity management into the solid minerals sector would facilitate database integration across government institutions, enhance regulatory compliance, and strengthen security and law enforcement. The DG pointed out that the initiative would also improve the monitoring of operators and provide stronger support for the implementation of Community Deve...

BY CHIKA OKEKE, Abuja MOPO, one of Africa's leading clean energy companies, has sealed a $75 million, approximately ₦120 billion deal with Nigeria's Rural Electrification Agency, REA, to accelerate the development of its solar-powered battery rental network across the country. The Memorandum of Understanding, MoU, signed in Abuja on Monday, is part of plans to invest up to $75 million in Nigeria by 2030. The partnership garners a set of joined-up activities, backed by data and convening, culminating in a new Nigeria Smart Battery Rental Programme. With the support of the government, the company will fast-track a pilot phase targeted for December 2026, in order to scale energy access to those living with unreliable access to electricity. MOPO's energy-as-a-service model gives low-income customers flexible, affordable access to power, renting portable batteries from community-based solar hubs rather than requiring customers to buy solar equipment outright or via l...

BY CHIKA OKEKE, Abuja The FirstHoldCo has recorded a ₦653.54 billion profit before tax for the first half of 2026, representing an 83.5 per cent increase compared with ₦356.15 billion recorded in the same period last year. Chairman of FirstHoldCo, Femi Otedola said that the group also recorded gross earnings of ₦1.93 trillion, representing a 16.7 per cent year-on-year increase, while operating income grew by 25.8 per cent to ₦1.38 trillion. Building on the successes recorded in the first quarter of 2026, the half-year result signaled a defining shift in FirstHoldCo’s journey, from recovery and repositioning to disciplined growth, improved efficiency and sustainable value creation. Following one of the most comprehensive and transparent balance sheet clean-ups in the Nigerian financial services industry, which addressed legacy asset quality concerns and strengthened the Group’s capital position, FirstHoldCo is now beginning to reap the rewards of a stronger, healthier and mo...

BY CHIKA OKEKE, Abuja In line with its commitment to support infrastructure development, the African Export-Import Bank, Afreximbank, has approved a $ 200-million global revolving dual tranche facility for Shoreline Power Company Limited, Shoreline, and its co-borrowers, including Arkad SpA, an Italian EPC contractor majority-owned by the Shoreline Group of Nigeria. Designed to support energy development in Algeria, the facility is expected to strengthen Arkad’s contractual share in a $ 980-million contract for the Hassi Bir Rekaiz, HBR, Field Development project. The facility will also contribute to Arkad’s 44 per cent contractual share in one of Algeria’s largest upstream infrastructure contracts, the landmark $980 million Engineering, Procurement, and Construction, EPC, contract for the HBR Field Development Phase 2a project, awarded by Groupement Hassi Bir Rekaiz, GHBR. The project is a joint venture between three countries namely: Sonatrach, Algeria, PTTEP, Thailand, a...

BY CHIKA OKEKE, Abuja R-L: NAWOJ National Chairperson, Comrade Aisha Ibrahim presenting a plaque to Chief of Naval Transformation and Innovation, CNTIs, Rear Admiral Chijioke Onyemaobi, during NAWOJ’s courtesy visit to the Naval Headquarters in Abuja. The Nigeria Association of Women Journalists, NAWOJ, has lauded the Nigerian Navy for its unwavering commitment to safeguarding Nigeria's maritime domain, protecting critical national assets, combating piracy and maritime crimes, and supporting the Federal Government's Blue Economy Agenda. NAWOJ National Chairperson, Comrade Aisha Ibrahim stated this during a courtesy visit to the Chief of the Naval Staff, Vice Admiral Idi Abbas at the Naval Headquarters, Abuja. She described the Navy as a strategic institution whose professionalism and sacrifices continue to strengthen national security and economic prosperity. The essence of the visit was to formally invite the Nigerian Navy to partner with the Association for the fo...

BY CHIKA OKEKE, Abuja The Chief Executive Officer of National Insurance Commission, NAICOM, Mr Olusegun Omosehin has informed insurance companies that the July 31 recapitalisation deadline remains sacrosanct and will not be altered. To this end, he cautioned operators yet to meet the new minimum capital requirements to act fast, adding that recapitalisation exercise is a key component of NAICOM’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry. Omosehin stated this over the weekend in Lagos at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria, CIIN. The new minimum capital requirement is intended to enhance insurers’ claims-paying capacity, strengthen their balance sheets, increase domestic risk retention and prepare the industry for the implementation of a risk-based capital regime. Omosehin commended operators that have made...

BY CHIKA OKEKE, Abuja The Nigerian Building and Road Research Institute, NBRRI, has stated that the Digital Standards Platform was designed to reduce building collapse by helping users identify certified construction materials. Director-General of Prof. Samson Duna who disclosed this over the weekend at the unveiling of the platform, hinted that investigations by the institute had consistently identified the use of substandard construction materials as one of the major causes of building collapse in the country. The project, implemented through a partnership with the Ministry of Industry, Trade and Investment, Bureau of Public Procurement, BPP, Standards Organisation of Nigeria, SON, and a private-sector partner- Goringo Concept Limited, demonstrated how PPPs could be deployed to improve public service delivery. It was also designed to support the implementation of the Federal Government’s ‘Nigeria First Policy.’ Duna maintained that the digital platform would enable builde...

BY CHIKA OKEKE, Abuja The Bureau of Public Procurement, BPP, has blamed misaligned budgeting, inadequate capacity, weak audit synergy and poor project planning as the major challenges undermining successful implementation of public projects. Director-General of BPP, Dr Adebowale Adedokun stated this at the 2026 National Assembly Open Week with the theme, “Three Years of the 10th National Assembly: Advancing Transparency, Inclusion and Reform.” He said that frequent changes in the composition of the National Assembly made continuous capacity building necessary to ensure that lawmakers have a clear understanding of procurement processes and their oversight responsibilities. The DG sought stronger synergy between relevant committees of the national assembly and the BPP, adding that procurement audit reports submitted by the bureau could strengthen legislative oversight of contract awards, implementation and beneficiaries. He expressed concern over discrepancies in the 2026 bud...

BY CHIKA OKEKE, Abuja The Nigerian Export Promotion Council, NEPC, has doled out $710,000, approximately N979.8 million grant to 128 women-owned export-oriented Micro, Small and Medium Enterprises, MSMEs. Executive Director/CEO of NEPC, Mrs Nonye Ayeni noted in Abuja that 121 Nigerian women-owned businesses had received discovery grants valued at $5,000 each, while seven businesses had been awarded booster grants valued at $15,000 each. She pointed out that the fund was a joint initiative of the International Trade Centre, ITC, and the World Trade Organization, WTO, with financial support from international partners. The initiative seeks to enhance the competitiveness of women-led businesses by providing access to finance, business development support, digital skills and international market opportunities. She said: “The global fund aims to bridge the digital financing gap and help women-led MSMEs scale their businesses through digital trade.” Ayeni noted that NEPC was sele...

BY CHIKA OKEKE, Abuja L-R: Comptroller-General of Customs, CGC Adewale Adeniyi presenting a plaque to the Chairman of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria, APFFLON, Akeem Ayobiojo during the Association’s visit to the Service Headquarters in Abuja.  The Nigeria Customs Service, NCS, has fortified security at the Nnamdi Azikiwe International Airport, Abuja, with the deployment of non-intrusive inspection technology, cargo scanners, with the project awaiting final regulatory approval for full takeoff. Acting Comptroller Non-Intrusive Inspection, Deputy Comptroller of Customs, DC, Umar Madugu stated this following a comprehensive assessment of the newly installed facilities at the Nnamdi Azikiwe International Airport, Abuja. Madugu inspected the newly installed CX180-180DH pallet cargo scanners positioned at the SAHCO and NAHCO warehouses within the Abuja airport. To ensure that the technology is fully utilised, Madugu stated t...

BY CHIKA OKEKE, Abuja President Bola Tinubu The Federal Government has finalised plans to release a comprehensive Virtual Assets White Paper, expected to capture Nigeria’s longer-term policy direction and implementation priorities that will serve as a roadmap for stakeholders across the financial sector. To this end, the Virtual Asset Council, VAC, has been directed to develop a Harmonised Implementation Framework within 30 days to guide participating agencies in the speedy implementation of the Presidential Executive Order on Virtual Assets Coordination, 2026. President Bola Ahmed Tinubu who stated this at the signing of the Presidential Executive Order on Virtual Assets Coordination, 2026, in Abuja, revealed that the Order is intended to harmonise the regulation of virtual assets, strengthen cooperation among the nation's financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling res...

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...

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...

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...