News Rider

BY CHIKA OKEKE, Abuja Kashifu Inuwa The National Information Technology Development Agency ,NITDA, has unveiled a taskforce to fasttrack the implementation of Nigeria’s sovereign cloud initiative and introduce reforms capable of transforming critical sectors of the economy. Inaugurating the taskforce in Abuja, Director-General of NITDA, Kashifu Inuwa said that the initiative would strengthen the country's digital sovereignty, attract investment, create jobs and retain technology talents. According to him, unlike the previous reforms in the telecommunications and banking sectors, the digital transformation agenda cuts across virtually every area of the economy, including education, finance, healthcare, agriculture and manufacturing. Inuwa noted that the taskforce would prioritise compliance with the Central Bank of Nigeria’s, CBNs, January 1 deadline for financial institutions, adding that NITDA would organise workshops to showcase compliant cloud solutions and build con...

BY CHIKA OKEKE, Abuja An asset management firm, Foremost Capital Limited has committed to attaining world-class standards at all levels of its business operations. This was even as the company raised its assets by 250 per cent from July to December 2025. Managing Director/CEO of Foremost Capital Limited, Emmanuel Akehomen said in Abuja, that the company also secured a BBB+ rating from DataPro, a leading credit rating agency.  BBB+ credit rating is a medium investment-grade scored by major rating agencies, indicating that a company or government can pay its debts, but bad economic changes could upturn the company's safety. Akehomen stated that DataPro’s BBB+ rating provided an independent assessment of its financial strength and operating capacity, a strong liquidity position, supporting its ability to meet financial obligations and manage client investment activities. He said that the rating demonstrated the company’s growing presence and capacity within the investment ...

BY CHIKA OKEKE, Abuja L-R: Minister of State for Works, Rt. Hon. Bello Goronyo; Ogun State Governor, Prince Dapo Abiodun; and Minister of Works, Engr David Umahi at the commencement of the dualisation of 56.5km Ibadan–Ijebu Ode road in Ogun State recently.  The Federal Government has ruled out temporary repairs on strategic project, subscribing to permanent dualisation that will terminate gridlocks and frustrations encountered by motorists and other road users. This played out at the commencement of the dualisation of 56.5km Ibadan–Ijebu Ode road in Ogun State.  Minister of Works, Engr David Umahi confirmed that the project marked a decisive shift from temporary fixes to the delivery of durable infrastructure under  President Bola Ahmed Tinubu's administration. ” Umahi described the Ibadan–Ijebu Ode road as more than an ordinary road construction, but a deliberate economic intervention project.  The dualisation will open up new economic opportunities acro...

BY CHIKA OKEKE, Abuja Vice President Kashim Shettima Vice President Kashim Shettima has taken a firm stance to resolve Nigeria's poor geographical identity to attract more investment and address insecurity in the country.  This will be achieved by making locations more identifiable through the establishment of Digital Addressing System.  Already, the VP has ratified a framework for the actualisation of Nigeria’s vision to build a digital and modern addressing system for the country. Under the new arrangement, the Federal Ministry of Science, Technology and Innovation will serve as Secretariat for greater efficiency and coordination, while other agencies will synergise efforts to achieve set objectives. The decision was formalised at a meeting of National Addressing Council ,NAC, in Abuja, attended by key members and stakeholders in the public and private sectors.  He said: "Under the Renewed Hope Agenda, our duty is to build institutions that match the energy ...

BY CHIKA OKEKE, Abuja Galaxy Backbone Limited, GBB, has sought sustained investment to expand its fibre network, data centres and cybersecurity capabilities given the increased demand for digital services. Managing Director of GBB, Prof. Ibrahim Adeyanju stated this on Monday when the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, visited its headquarters in Abuja. Adeyanju requested for private-sector partnerships and appropriate policy support to enable GBB to connect more institutions, strengthen digital infrastructure, reduce duplication and improve public service delivery. He disclosed that every Naira invested in digital infrastructure represents an investment in productivity, innovation, economic growth and national development, promising that GBB remained committed to delivering greater value to Nigeria and Nigerians. While describing the organisation as a critical component of Nigeria’s digital infrastructure ecosystem, he noted tha...

BY CHIKA OKEKE, Abuja About 31 companies that emerged winners of 37 oil and gas blocks in the 2025 Licensing Round may lose their provisional awards to the reserve bidders over outstanding debt. Part of the blocks are PPL 2A29 to PPL 2A62 in the Niger Delta, PPL 2010 in the deep offshore, PPL 308 in the Benin Basin, PPL 900 to PPL 903 in the Anambra Basin, PPL 700 in the Chad Basin and PPL 800 and PPL 801 in the Benue Trough. But the 37 blocks offered in the licensing round comprise Petroleum Prospecting Licences, covering the Niger Delta onshore, shallow water and deep offshore areas, like frontier basins. While a total of 143 companies participated in the licensing round, about 200 bids were submitted for the 37 blocks. However, 13 of the 50 blocks initially put up for bidding attracted no bids. Stressing the consequences of their action, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, had on Sunday issued a notice, reminding the 31 companies of the implicat...

BY CHIKA OKEKE, Abuja The Bureau of Public Procurement, BPP, has canvassed the engagement of civil society organisations, CSOs, in monitoring public procurement systems to entrench accountability and enhance transparency in procurement processes. Director-General of the BPP, Dr Adebowale Adedokun stated this on Friday, at the inaugural forum of the Advocate for the Promotion of Transparent Procurement Initiative, APTPI, in Abuja. He enjoined the CSOs to serve as independent observers by monitoring procurement processes, documenting their findings and submitting credible observations to appropriate authorities. Adedokun informed that procurement should not be treated merely as an administrative procedure but as a tool for delivering Nigeria’s broader economic and social development objectives. “An effective procurement system promotes value for money, competition and sustainable development. Stronger procurement outcomes will also improve citizens’ confidence in government,”...

BY CHIKA OKEKE, Abuja The Media Rights Agenda, MRA, has called on Nigeria to play a leading role in shaping the global future of Artificial Intelligence, AI, as Africa’s largest country and one of the most significant digital economies. Executive Director of MRA, Mr. Edetaen Ojo stated this during a Stakeholder Engagement Session on the Nigerian National Artificial Intelligence, NNAI, Strategy, organised by Article 19 West Africa, in collaboration with MRA and the Deutsche Gesellschaft für Internationale Zusammenarbeit, GIZ, the German Federal Government agency for International Cooperation. Ojo noted that Nigeria’s AI Strategy must be based on a genuinely inclusive and multistakeholder process, both in its development and implementation, adding that the role should be inclusive, equitable, and responsive to the realities. He said: “It is of utmost importance that technological progress in Nigeria does not come at the expense of human rights, including freedom of expression...

BY CHIKA OKEKE, Abuja The Nigeria Customs Service, NCS, has joined forces with the World Customs Organisation, WCO, and the United Kingdom International Development, UKID, to develop Standard Operating Procedures, SOPs, and facilitate legitimate trade. This formed the crux of discussion at a workshop organised by the NCS in Abuja, to strengthen internal anti-corruption framework, institutional growth, integrity, and corruption risk management. Comptroller General of Customs, CGC, Adewale Adeniyi noted that the workshop was designed to cover key Customs processes, including regulatory and administrative procedures, clearance processes, inspection and examination, enforcement and compliance, procurement and human resource management. "The purpose of what we have therefore been doing with our partners is to identify such areas of vulnerabilities, assess the associated risk and develop practical measures to mitigate them," he said. The CGC affirmed that the Service wi...

BY CHIKA OKEKE, Abuja The Office of the Tax Ombud, OTO, has aligned with the Oil and Gas Free Zones Authority, OGFZA, to promote fair, transparent, predictable and investor-friendly tax administration within Nigeria’s oil and gas free zones. When fully operational, the collaboration will attract more Foreign Direct Investment, FDIs, into the free zones, while resolving tax and fee-related grievances. The Tax Ombud/Chief Executive of OTO, Dr John C. Nwabueze, who stated this during a courtesy visit to OGFZA, noted that the two agencies could collaborate in areas including taxpayer complaint resolution, clarification of tax incentives, review of systemic complaints, and the promotion of transparency and accountability. This, he believed, would contribute to increased voluntary tax compliance and a higher tax-to-GDP ratio, adding that the sensitisation programme would improve understanding of its mandate, services and the rights available to taxpayers. He said: “I am very much...

BY CHIKA OKEKE, Abuja Determined to achieve cleaner transportation for Nigeria, the National Automotive Design and Development Council ,NADDC,  has issued licenses to 80 Compressed Natural Gas ,CNG,  conversion centres nationwide. The Director-General of NADDC, Mr Joseph Osanipin stated this at a One-day Human-Centered Data and AI Master class for Commerce and Industry Correspondents Association of Nigeria ,CICAN, in Abuja, with the theme: "Reporting Nigeria’s Automative Transformation, from Policy to Production and Public Impact.” Osanipi, who was represented by the Director of Public Relations, NADDC, Mrs Susan Taiwo, stated that the Agency has trained about 100 persons in each geo-political zone on vehicle conversion and installation. He disclosed that the Council had installed pilot electric vehicle charging stations in some tertiary institutions, pleading with  private investors to establish more charging stations and CNG facilities across the country. Os...

BY CHIKA OKEKE, Abuja The Securities and Exchange Commission ,SEC, has proposed a N30 million as  registration fee and a minimum capital requirement of N2 billion for Crypto firms operating in Nigeria. Under the proposed framework, Digital Asset Exchanges ,DAEs, Digital Asset Custodians ,DACs, Digital Asset Platform Operators ,DAPOs, Digital Asset Offering Platforms ,DAOPs, and Real-world Asset Tokenization Patforms ,RATOPs, are expected to pay a N30 million registration fee. The SEC also recommended different minimum capital requirements for operators. DAXs and DACs would pay N2 billion each, while DAPOs, DAOPs and RATOPs are expected to pay N500 million each. Also, Virtual Asset Service Providers ,VASPs, would maintain a minimum capital of N200 million, with applicants paying a N100,000 processing fee and a N300,000 application fee. The commission also recommended that regulated entities maintain a fidelity insurance bond covering at least 25 per cent of their minimum...

Nigerians are in disarray as source of livelihoods depreciate daily due to the government economic modifications. CHIKA OKEKE analyses some of the key indices captured in Nigeria's Reforms Scorecard.  With over 242 million population, 70 percent of Nigerians live on less than one dollar day, signifying the level of hardship and poverty taunting a country richly endowed in natural and human resources.  From the North, South, East and down to the West, Nigerians lament bitterly over the high cost of living including the hike in prices of food, medicine, cooking gas, clothings, among other necessities of life.  The lopsidedness in employment into the government Ministries, Departments and Agencies, MDAs, further worsened the dicey condition, leaving many unemployed and searching for jobs.  There is no recent official data on unemployed Nigerians in 2026 but the National Bureau of Statistics, NBS, in its second quarter of 2024 report, pegged unemployment at ...

BY CHIKA OKEKE, Abuja The National Information Technology Development Agency, NITDA, has formed a strategic alliance with the Budget Office of the Federation, BOF, to strengthen Sovereign Cloud Implementation, SCI, and position Nigeria as one of the leading hubs for digital infrastructure. To deepen the alliance, both Agencies inaugurated the Joint Technical Committee of the National Sovereign Cloud Initiative, JTC-NSCI, meant to address key fiscal, expenditure, procurement, financing and investment considerations required for the effective implementation of the initiative. Chaired by the Director General of the Budget Office of the Federation, Tanimu Yakubu, with the Director General of NITDA, Kashifu Inuwa, serving as co-chair, the committee comprises government institutions across public finance, procurement, investment, connectivity, power and energy, cybersecurity, data governance, among others. The JTC-NSCI will also provide a focused inter-agency platform for examini...

BY CHIKA OKEKE, Abuja Taiwo Oyedele Nigerians are set to witness shared prosperity as the Federal Government has devised measures to trim down Headline inflation to a single digit, reduce poverty and deepen agricultural interventions to bring down the prices of food in the market. This is in addition to achieving a unified exchange rate, prioritising spending in the most impactful areas, partnering with the States and Local Governments, and extending macro-economic gains into meaningful impact for every household. Nigeria’s headline inflation rate crashed to 15.43 per cent in July 2026, down from 15.91 per cent recorded in June, as captured in the Consumer Price Index, CPI, report released on Monday by the National Bureau of Statistics, NBS. But the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, while presenting Nigeria’s Reform Scorecard titled “The Benefits, Costs and Harm Prevented,” on Wednesday in Abuja, stated that the tax-to-GDP ratio...

BY CHIKA OKEKE, Abuja African countries have rejected the Green Revolution programme twenty years after it was formed, despite the over $1 billion invested to end hunger, increase crop yields and reduce post-harvest losses. The Alliance for a Green Revolution in Africa, AGRA, was founded in 2006 by the Bill and Melinda Gates Foundation and the Rockefeller Foundation with the goal to catalyse a farming revolution in Africa. A breakdown of the investment revealed that the Gates Foundation donated a $200 million grant, while the Mastercard Foundation with a $350 million five-year donation restricted the support to promoting youth employment, which was not part of the core Green Revolution strategy. AGRA also secured a $105 million grant from the Green Climate Fund, GCF, for a program to reduce post-harvest crop losses as a form of climate adaptation and mitigation. To commemorate the anniversary, Alliance for Food Sovereignty Africa, AFSA, in collaboration with an independent ...

BY CHIKA OKEKE, Abuja The Federal Competition and Consumer Protection Commission, FCCPC, has indicted Dangote Group, BUA Group and other manufacturers over the exorbitant prices of cement across the country.  This was even as the commission revealed that cements are cheaper in other African countries of Kenya, Tanzania, South Africa, Egypt, Morocco, Algeria and Togo compared to Nigeria.  The indictment followed the results of findings from an industry-wide investigation conducted by the FCCPC, suggesting possible manipulation of prices of cement in the Nigerian market.  Specifically conducted by the Anticompetitive Practices Department of the Commission, the three-month cross-border study was in response to complaints over the high cost of cement.  The study examined factors including limestone availability, population, production capacity, consumption and retail prices. But the FCCPC Director of Corporate Affairs, Ondaje Ijagwu said on Tuesday in Abuja t...

 BY CHIKA OKEKE, Abuja The Nigeria Union of Journalists, NUJ, and Chevron Nigeria Limited have encouraged journalists to adopt emerging technologies like Artificial Intelligence, AI, in reporting factual stories while shaping public opinion. This played out when Chevron Nigeria Limited in collaboration with the Federal Capital Territory, FCT, chapter of NUJ organised the 2026 Chevron Media Capacity Building Programme for Energy Correspondents with the theme: “Strengthening Energy Journalism Through Knowledge, Data Accuracy and Artificial Intelligence.” The training, which centered on data accuracy and the use of Artificial Intelligence, AI, in energy reporting was held in Abuja. Chairman of the NUJ FCT Council, Grace Ike sought a new approach to energy journalism, urging journalists to move beyond event-driven coverage and embrace data, accuracy, context and emerging technologies. Ike noted that such an approach would deepen public understanding of Nigeria’s rapidly evo...

 BY CHIKA OKEKE, Abuja L:R- Minister of Housing and Urban Development, Engr. Muttaqha Rabe Darma; Permanent Secretary, Federal Ministry of Housing and Urban Development, Dr. Shuaib Belgore, and Managing Director/Chief Executive of FMBN, Shehu Usman Osidi during the Stakeholders Validation Workshop on the National Housing Data Programme in Abuja. The Federal Mortgage Bank of Nigeria, FMBN, has restrategised on the safest ways to ease difficulties associated with housing finance by establishing the National Mortgage Registry, expected to deepen transparency and strengthen regulation in the built environment. Director/Chief Executive of FMBN, Shehu Usman Osidi who stated this during the Stakeholders Validation Workshop on the National Housing Data Programme in Abuja, informed that the Registry has reached a major milestone and is ready for deployment. The National Mortgage Registry, which has been approved by the National Council on Housing and domiciled within FMBN, is be...

BY CHIKA OKEKE, Abuja Taiwo Oyedele The Federal Ministry of Finance has disowned a viral and fraudulent message sent to newly recruited staff, directing them to pay a non-refundable administrative fee of ₦50,000 as a condition for resumption of duty. This was even as the Ministry described the message as the handiwork of scammers seeking to exploit unsuspecting applicants through false claims made in the name of the Federal Ministry of Finance. The message, titled "Administrative Update and Compliance Notice for Newly Recruited Staff," falsely claimed that the Human Resource Management Department directed newly recruited staff to pay an administrative fee before assuming duty. To this end, the Ministry stated categorically that no such directive was issued and that the message did not originate from any office or official of the Federal Ministry of Finance. The Ministry clarified that recruitment into the Federal Ministry of Finance is conducted strictly in accord...