The Nation Newspaper

Category: Business

  • Firm eyes oil production

    Firm eyes oil production

    TAG Energy Nigeria Limited is expanding its strategic focus beyond engineering services to oil production, with plans to invest in oil fields in Nigeria and other African countries.

    Managing Director, TAG Energy, Mr. Yemi Gbadamosi, revealed this strategic plan during the presentation of ISO 9001:2015 Quality Management System Certification to TAG Energy in Lagos, on Tuesday.

    He revealed that TAG Energy is currently looking at the possibility of acquiring some acreages and developing its own field so that it can join the league of oil producers to support the current administration’s quest to increase the volume of oil & gas that Nigeria produces.

     “In the next five years, our projection is to become an oil producer. We are exploring opportunities to acquire acreages and develop our own fields in support of Nigeria’s drive to increase oil and gas output,” Gbadamosi said.

    The acquisition of ISO 9001:2015 Quality Management System Certification marked a significant milestone in TAG Energy’s operational growth and alignment with global best practices in the oil and gas industry.

    The certification, issued by Bureau Veritas, affirms the company’s commitment to excellence, safety and quality in service delivery across the upstream oil and gas industry.

    Gbadamosi said the ISO certification underscores the company’s dedication to operational excellence and continuous improvement within a high-risk industry.

     “The certification means a great deal to us as a player in Nigeria’s upstream sector. Safety and quality are the bedrock of our business. It is important that we always deliver top-quality products and services while maintaining the highest safety standards,” he stated.

    The TAG Energy boss explained that the certification process spanned about two years, involving rigorous internal and external audits, documentation reviews and process assessments.

    He stated that the company remains committed to sustaining and improving the standards that earned it the certification.

     “One of the main ethos of quality is continuous improvement. Continuous improvement mindset is what brought TAG Energy to where it is today.

    Read Also: How Nigeria’s security failures invite global condescension

     “We will continue to improve. We have management and board commitment to maintain and even improve on the quality of our products to our customers.

     “We have engaged both internal and external auditors to ensure ongoing compliance across all areas of our operations,” he affirmed.

    Presenting the certificate, the District Chief Executive for Nigeria and Managing Director of Bureau Veritas, Mr. Jean-Michel Perret, commended TAG Energy for its dedication to global standards.

     “ISO certification strengthens internal systems and enhances business credibility. It is a globally recognised mark of quality, and TAG Energy has truly earned it,” Perret noted.

    The Assistant General Manager of TAG Energy, Mrs. Peluola Adeniji, traced the company’s quality journey to 2015, when its sister company, TAG Lines Nigeria Limited, was certified under the ISO 9001:2008 standard for supply chain management and manpower support services.

    She said the latest certification has further strengthened the company’s internal processes, improved customer satisfaction, and boosted operational efficiency and risk management.

    Adeniji added that the process has led to measurable gains, including stronger documentation and process consistency, an enhanced safety culture, and increased customer trust.

  • Why Concession of airports are misunderstood, by Ogbe

    Why Concession of airports are misunderstood, by Ogbe

    An aviation professional, in the Air Cargo Unit  of  the Federal Airports Authority of Nigeria (FAAN) and a member of the Federal Government’s Airport Concession Committee, Mr John  Ogbe. In this interview with KELVIN OSA – OKUNBOR , speaks on how  public-private partnerships (PPP) can be vital to bridging Nigeria’s infrastructure gap, workers’ interests and other concerns.

    Position on Airport Concession

    In the last eight years, our position was a firm “no” to concession, but we have realised that concession is not going away. One of the major reasons is that the funds to transform airports, the government doesn’t seem to have. Let me tell you this: aviation standards are global; there are no local standards in the aviation industry. You will agree with me that our airports are not operating to the expected standards, and the government is saying it doesn’t have the resources to pump into this sector. The fact is that Public-Private Partnership (PPP) is just the right way to go for everyone, but we are firmly behind our workers on welfare and labour issues, and all these must be resolved.

    That is where we are with the government.

    Recent Developments around PPP

    In recent days, a lot has been said about the concessioning of Enugu, Ibadan, Minna, and even Port Harcourt airports. The unions have adopted a common position on staff welfare issues. Once these issues are resolved, we don’t have a problem with the government.

    The issues are not much; for instance, in the Federal Airports Authority of Nigeria (FAAN), we have three big airports — Lagos, Abuja, and Kano — which are feeding the other airports. In the contractual agreement of FAAN’s staff, you are employed as a staff of the authority, not as a staff of Enugu, Kano, Katsina, or even Lagos airports. You can be in Lagos today and be moved to Enugu tomorrow.

    All the assets and liabilities are in a pool to share from. Someone in Enugu is still drawing his pension from Lagos and vice versa. If the government is saying it wants to concession Enugu Airport, for instance, there are pensions and liabilities that are attached to these airports. One of our demands is that the government should resolve our pension problem.

    Effects on FAAN When Concession Take Off

    As it stands, FAAN is practising two pension schemes, the defined benefit scheme and the contributory pension scheme. Before the migration of staff to the Pension Fund Administrators (PFA), FAAN did not have the funds at that time to move all their workers. So, we are in valuation, practising the two schemes. Right now, there are people on the other side who are still receiving pensions to date, and there are also some staff on the contributory pension scheme.

    The workers are telling the government to sever everyone and let the concessionaire take over the whole airport. Part of our demands to the government is cluster concession, in which a concessionaire of any of the big airports would pick other small airports within the region. Someone that takes Lagos will add Ilorin, Ibadan, and Akure to it, while the winner of Abuja Airport will add Minna, Makurdi, and Jos to it, and so on. This will enable the capturing of the liabilities and assets of the airports, and nobody will be left out.

    Also, the third one is actual valuation, which is about N1.21 billion for the entire FAAN workforce. So, we are saying let the value of that money be on ground so that those who want to continue with the organisation will continue, and anyone that wants to go can go. So far, the government is sincere in its engagements with stakeholders and the unions.

    Pitfalls to avoid

    The length of the concession period cannot be determined by an individual; this depends on what the concessionaire and the government are bringing to the table. The financial situation determines how long it will take to recoup your investment.

    The good side of this era is that we have the Infrastructure Concession Regulatory Commission (ICRC), which is saddled with the responsibility of midwifing the end-to-end concession process. In the past, we didn’t have an ICRC, but with the coming on board of the commission, such controversies of the past have been nipped in the bud.

    Another issue is good faith. In Nigeria, there are lots of concessions that have gone bad, even beyond the aviation industry, and this is mostly because they were skewed against the people and lacked goodwill. So, they were bound to fail, but because they failed, it doesn’t mean we cannot get it right again. The creation of the ICRC has addressed some of those challenges.

    Also, engagements with stakeholders and the unions will go a long way in addressing several challenges, even beyond labour issues. The new method the government has adopted will help the concession exercises of today.

    What becomes of FAAN post-concession?

    FAAN, as an authority, will still be there. With what we are doing in Enugu right now, it’s a form of revenue sharing between the agency and the concession proponents. FAAN will still be running, but it will be overseeing the Key Performance Indicators (KPIs) of the concession process.In the last eight years, our position was a firm “no” to concession, but we have realised that concession is not going away. One of the major reasons is that the funds to transform airports, the government doesn’t seem to have. Let me tell you this: aviation standards are global; there are no local standards in the aviation industry. You will agree with me that our airports are not operating to the expected standards, and the government is saying it doesn’t have the resources to pump into this sector. The fact is that Public-Private Partnership (PPP) is just the right way to go for everyone, but we are firmly behind our workers on welfare and labour issues, and all these must be resolved.

    That is where we are with the government.

    Recent Developments around PPP

    In recent days, a lot has been said about the concessioning of Enugu, Ibadan, Minna, and even Port Harcourt airports. The unions have adopted a common position on staff welfare issues. Once these issues are resolved, we don’t have a problem with the government.

    The issues are not much; for instance, in the Federal Airports Authority of Nigeria (FAAN), we have three big airports — Lagos, Abuja, and Kano — which are feeding the other airports. In the contractual agreement of FAAN’s staff, you are employed as a staff of the authority, not as a staff of Enugu, Kano, Katsina, or even Lagos airports. You can be in Lagos today and be moved to Enugu tomorrow.

    All the assets and liabilities are in a pool to share from. Someone in Enugu is still drawing his pension from Lagos and vice versa. If the government is saying it wants to concession Enugu Airport, for instance, there are pensions and liabilities that are attached to these airports. One of our demands is that the government should resolve our pension problem.

    Effects on FAAN When Concession Take Off

    As it stands, FAAN is practising two pension schemes, the defined benefit scheme and the contributory pension scheme. Before the migration of staff to the Pension Fund Administrators (PFA), FAAN did not have the funds at that time to move all their workers. So, we are in valuation, practising the two schemes. Right now, there are people on the other side who are still receiving pensions to date, and there are also some staff on the contributory pension scheme.

    The workers are telling the government to sever everyone and let the concessionaire take over the whole airport. Part of our demands to the government is cluster concession, in which a concessionaire of any of the big airports would pick other small airports within the region. Someone that takes Lagos will add Ilorin, Ibadan, and Akure to it, while the winner of Abuja Airport will add Minna, Makurdi, and Jos to it, and so on. This will enable the capturing of the liabilities and assets of the airports, and nobody will be left out.

    Read Also: Nigerian River yields compounds with drug potential

    Also, the third one is actual valuation, which is about N1.21 billion for the entire FAAN workforce. So, we are saying let the value of that money be on ground so that those who want to continue with the organisation will continue, and anyone that wants to go can go. So far, the government is sincere in its engagements with stakeholders and the unions.

    Pitfalls to avoid

    The length of the concession period cannot be determined by an individual; this depends on what the concessionaire and the government are bringing to the table. The financial situation determines how long it will take to recoup your investment.

    The good side of this era is that we have the Infrastructure Concession Regulatory Commission (ICRC), which is saddled with the responsibility of midwifing the end-to-end concession process. In the past, we didn’t have an ICRC, but with the coming on board of the commission, such controversies of the past have been nipped in the bud.

    Another issue is good faith. In Nigeria, there are lots of concessions that have gone bad, even beyond the aviation industry, and this is mostly because they were skewed against the people and lacked goodwill. So, they were bound to fail, but because they failed, it doesn’t mean we cannot get it right again. The creation of the ICRC has addressed some of those challenges.

    Also, engagements with stakeholders and the unions will go a long way in addressing several challenges, even beyond labour issues. The new method the government has adopted will help the concession exercises of today.

    What becomes of FAAN post-concession?

    FAAN, as an authority, will still be there. With what we are doing in Enugu right now, it’s a form of revenue sharing between the agency and the concession proponents. FAAN will still be running, but it will be overseeing the Key Performance Indicators (KPIs) of the concession process.

  • Africa’s green shift risks creating redundancies

    Africa’s green shift risks creating redundancies

    Africa stands at a pivotal juncture, urged to decarbonise for the planet’s sake even as it struggles to power its own growth. With 600 million people still lacking access to electricity, and coal providing cheap, reliable energy, the continent faces a significant paradox: the green transition is critical to global climate goals, but for Africa, it could come at a substantial cost, Managing Director, Project Management Institute (PMI), Sub-Saharan Africa, George Asamani, has warned.

    In an email report at the weekend, he said much of the global climate conversation to date has focused on policy and finance. But the real make-or-break factor lies elsewhere, in human capability.

    He said: “Without a deliberate plan for reskilling, the continent’s green shift could end up creating as many redundancies as green jobs. This perspective is rarely viewed through the lens of talent: How will this transition impact those employed in the fossil-fuel economy, and how will new talent be developed to build and manage the industries of the future?”

    The International Energy Agency (IEA) warns that under net-zero pathways, about 13 million fossil-fuel jobs could disappear globally even as 30 million new clean-energy roles emerge by 2030.

    He believes the catch is that most of those new jobs will be created in countries that already manufacture and install renewable-energy technologies. In much of Africa, where local production and technical training remain limited, job losses could easily outpace early gains.

    “Nowhere is this tension clearer than in South Africa, where around 100,000 coal miners and power-plant workers could face redundancy as coal is phased out. Many are semi-skilled, with years of technical and operational experience that aren’t automatically transferable to renewable-energy projects. For these workers, reskilling, not rhetoric, will determine whether the green transition is truly just.

    “A just transition must do both, protect those who stand to lose and prepare those who will build what comes next. This means designing policies that cushion affected workers through retraining, while simultaneously developing a pipeline of project talent to lead the rollout of renewable energy. A coal plant supervisor already manages complex schedules, safety protocols, and multidisciplinary teams, core project-management competencies that, with the right certification, translate directly to overseeing renewable projects,” he noted, adding however that across Africa, deliberate reskilling is already underway. In Nigeria, engineers from the oil and gas sector have been redeployed to solar and energy-efficiency projects through national transition initiatives. In Kenya, the expansion of geothermal energy has created new opportunities for technicians formerly employed in thermal power.

    In Rwanda and Morocco, energy workforce programmes have successfully redeployed engineers and technicians from mining and fossil sectors into hydropower and wind operations. In Ghana, the Bui Power Authority has retrained hydropower and thermal engineers to manage the country’s growing solar and hybrid projects, demonstrating how energy expertise can evolve in response to market demands.

    According to PMI Gap Report (2025–2035), Sub-Saharan Africa will need between 1.6 million and 2.1 million additional project professionals by 2035, an increase of up to 75per cent.

    Read Also: Trump’s crusade to save “Nigerian Christians”

    Yet education and training systems across the continent aren’t keeping up. The result is a skills deficit that threatens to stall progress in the very sectors most central to the energy transition: construction, energy, infrastructure, and technology.

    Data from the PMI suggests that about 10per cent of global project investment is lost annually due to poor performance in Africa’s infrastructure pipeline, that translates into billions in wasted investment. This is where project management becomes the unsung cornerstone of Africa’s green economy. A just transition demands talent transformation, the deliberate effort to retrain and redeploy workers from the old energy economy into the new one.

    Africa’s green transition will not succeed solely on goodwill. Governments, development partners, and businesses must act now to integrate project management training into climate finance and just transition plans. Building capability must be accompanied by building capacity.

    If climate investments continue to outpace human investments, the gap between ambition and delivery will only widen, Asmani warned.

    Accordingly, PMI is already collaborating with governments, academia, and industry across Africa to strengthen project delivery capability. These partnerships are embedding project management frameworks into public infrastructure initiatives, while universities are integrating PMI-aligned curricula to prepare a new generation of professionals for project-based roles in the green economy. By prioritising skills development alongside climate ambition, Africa can ensure that its energy transition is not only visionary but viable, Asmani wrote.

  • How we will create blue finance through climate resilience, by Sanwo-Olu

    How we will create blue finance through climate resilience, by Sanwo-Olu

    Lagos State Government has reaffirmed its commitment to sustainable growth and coastal resilience at the 11th Lagos International Climate Change Summit.

    Lagos State Governor, Mr Babajide Sanwo-Olu, said this at the opening ceremony of the summit  in Lagos.

    The summit had the theme: “Blue Economy, Green Money: Financing Africa’s Coastal Resilience and Ocean Innovation.”

    Sanwo-Olu said that Lagos, being a city built on water, energy and entrepreneurship, must ensure a sustainable future for its residents, while harnessing the power of its ocean resources.

     “Lagos is a city built on water, energy, and entrepreneurship.

     “Our responsibility is to ensure that this foundation remains sustainable for generations to come,” Sanwo-Olu said.

    He said his administration was deliberate in creating blue finance, citing the Great Wall of Lagos as an example of how the state transformed a former ocean surge zone into prime land.

    He said: “With the Great Wall of Lagos, we turned what was once a threat into an opportunity a place of economic value, safety, and growth. That is the spirit of innovation we are building on”.

    Also, at the summit, the Nigeria–China Strategic Partnership (NCSP) called for stronger alignment between Nigeria’s federal, state, and global climate strategies to unlock billions of dollars in private investment for the country’s emerging blue economy.

    Director General, Nigeria–China Strategic Partnership (NCSP), who was represented by the Head of Investment Management, Taiwo Ajetunmobi, commended Lagos State for taking the lead in subnational climate action and setting a continental benchmark for sustainable growth and innovation.

    Sanwo-Olu reiterated that Lagos was committed to leading Africa and the global community in the pursuit of a clean climate and a vibrant blue economy, describing it as “a lifeline for the planet.”

     “Lagos is committed to leading Africa and the global community in the pursuit of a clean climate and a vibrant blue economy, which remains a lifeline for the planet,” Sanwo-Olu said.

    Easter in his welcome address, the Commissioner for the Environment and Water Resources, Mr Tokunbo Wahab, said the summit underscored the state’s determination to unlock sustainable financing and pioneer innovative solutions that safeguard the ocean and strengthen coastal communities.

     “Lagos sees opportunity where others see risk, by transforming its blue economy into an engine of inclusive growth and environmental sustainability,” he said.

    Wahab highlighted ongoing state-led initiatives, including the soon-to-be-commissioned biogas facility at the Ikosi-Isheri Fruit Market, in partnership with the C40 Global Leadership Group.

     “The biogas project will convert fruit waste into clean energy for lighting, cooking, and phone charging, while also producing natural fertiliser for farmers,” he said.

    Wahab added that the governor would unveil the Climate Investment Opportunities Diagnostic, a policy document linking environmental goals, with actionable investment pathways.

    He noted that Lagos had been ranked the top-performing stare in climate government for the second consecutive year.

     “We are ready for investment, ready for innovation, and ready to build resilience that benefits all our people,” he said.He called for greater collaboration among African coastal cities, adding that Lagos was ready for investment, innovation, and to build resilience that benefits all its people.

    Minister of Marine and Blue Economy, Mr Gboyega Oyetola, said the Federal Government had implemented wide-ranging reforms to enhance security on Nigeria’s territorial waters and reduce piracy.

    Oyetola was represented at the event by the Director-General of the Nigerian Maritime Administration and Safety Agency, Dr Dayo Mobereola.

    He added that the ministry had advanced fiscal and legal frameworks, promoted waste-to-wealth initiatives, and partnered with stakeholders to finance the blue economy and drive maritime research.

    The Nation reports that representatives of the governments of Osun State and international partners from Britain, China, and Germany attended the summit.

    The representatives, in their goodwill messages, reaffirmed their commitment to driving green growth, embracing climate vulnerability as an opportunity for progress, and advancing Africa’s blue economy for a sustainable future.

    Read Also: Trump’s crusade to save “Nigerian Christians”

    Ajetunmobi highlighted Lagos’s unique potential, anchored on its 180-kilometre coastline, strong private sector base, and expanding maritime infrastructure. He cited the Lekki Deep Sea Port as a shining example of effective federal–state collaboration that successfully attracted over $1 billion in private equity investment, positioning Nigeria as a regional maritime hub.

     “Investors look for three things — policy coherence, regulatory predictability, and project bankability. When these align, private capital follows,” he said. “By synchronising federal vision with subnational execution, Lagos can unlock billions in blended finance for coastal resilience and sustainable infrastructure.”

    He further outlined various Public–Private Partnership (PPP) models such as Build–Operate–Transfer (BOT), Design–Build–Finance–Operate (DBFO), and Lease–Develop–Operate (LDO), urging stakeholders to reform and standardise processes, improve transparency, and strengthen institutional capacity to attract long-term investors.

    The NCSP Director-General also pointed to China’s growing role as a strategic partner in Nigeria’s Blue Economy, citing increasing investor interest in waste-to-energy, solar-powered cold-chain systems, and water transport projects.

     “China leads globally in clean energy and marine infrastructure. With transparent and commercially viable frameworks, Lagos can attract long-term equity partnerships that deliver real value to its people,” Ajetunmobi noted.

    He called for unified action among key stakeholders to harness the nation’s vast coastal and marine resources sustainably.

    “The tide of opportunity is rising, and Lagos must rise with it. By aligning state, federal, and global strategies, we can transform Nigeria’s maritime potential into real wealth and shared prosperity,” he said.

    Reaffirming its commitment, the Nigeria–China Strategic Partnership (NCSP) pledged continued support for initiatives that strengthen Nigeria’s climate resilience, enhance blue economy innovation, and position Lagos as Africa’s hub for sustainable ocean-based development.

  • National integrated poultry project set to take off in Kaduna

    National integrated poultry project set to take off in Kaduna

    The pilot phase of the National Integrated Poultry Project, a transformative agricultural investment facilitated by the Nigeria-China Strategic Partnership (NCSP), is set to kick off in Kaduna State.

    This landmark initiative is projected to generate over $450 million in revenue and create more than 350,000 jobs across the value chain.

    The announcement came during a high-level meeting between Kaduna State Governor Uba Sani, the leadership of the NCSP, and the Chinese Ambassador to Nigeria, Amb. Yu Dunhai.

    The engagement focused on strengthening bilateral cooperation in agriculture and investment between Nigeria and the People’s Republic of China, with Kaduna State positioned as a major partner and beneficiary.

    In his remarks, the Director-General of NCSP, Joseph Tegbe, commended the Kaduna State Government for its swift approval and allocation of over 7,000 hectares of farmland for the immediate take-off of the project.

    He described the state’s commitment as exemplary and reflective of her readiness to drive transformative economic growth through international partnerships.

    Mr. Tegbe explained that the initiative is designed not only to enhance large-scale production but ultimately to reduce the price of eggs and other poultry products, making them more affordable for Nigerian households, as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu.

    He added that the project will support existing poultry farmers by providing access to locally produced feedstock, thereby reducing the cost of poultry feed and lowering their overall cost of production.

    “This project represents a major step toward achieving food security, inclusive growth, and sustainable livelihoods. It is a model of how international collaboration can directly impact the lives of our people,” Mr. Tegbe stated.

    Governor Sani described the visit as “not merely another diplomatic courtesy, but a defining stride in Kaduna’s mission to attract transformative partnerships that will reinforce its position as a continental hub for agricultural and industrial excellence.”

    Read Also: Shettima returns to Abuja after showcasing Nigeria’s climate leadership at COP30

    He expressed profound appreciation to President Tinubu for selecting Kaduna as the pilot state for the project, describing the choice as a testament to the state’s leadership in Nigeria’s agricultural sector.

     “With agriculture contributing 43 per cent to our GDP and employing more than 60 per cent of our citizens, this partnership will accelerate our pursuit of higher productivity, sustainable growth, food security, and broad-based prosperity,” Gov Sani said.

    Reaffirming his administration’s commitment, the Governor pledged continued support for partnerships that promote inclusive economic growth, enhance food security, and position Kaduna as the agricultural heart of Nigeria.

    In his address, Ambassador Yu Dunhai commended the remarkable progress unfolding in Kaduna State and lauded the government’s efforts in fostering an enabling environment for global investors.

    He emphasised that Kaduna’s stability and forward-looking policies have made it a preferred destination for major international partnerships.

    Under President Tinubu’s Renewed Hope Infrastructure Development Fund (RHIDF), the pilot phase of the project will be executed through a Special Purpose Vehicle in partnership with the Chinese Government and the Kaduna State Government.

    Construction is scheduled to commence in December 2025. Covering a total of 10,000 hectares, the project will integrate maize and soybean cultivation to support feedstock production, while establishing large-scale poultry operations.

    It is projected to create 50,000 direct jobs and over 300,000 indirect employment opportunities across the value chain.

  • Nigeria, IMF strengthen collaboration on growth plan

    Nigeria, IMF strengthen collaboration on growth plan

    A high-level delegation from the International Monetary Fund (IMF) at the weekend met with the Federal Government’s team on budget and economic planning to discuss the country’s five-year growth plan.

    The discussions focused on Nigeria’s ongoing reforms, medium-term outlook, and preparations for the 2026-2030 National Development Plan.

    Assistant Director, African Department, International Monetary Fund (IMF), Mr Axel Schimmelpfennig, met with Minister of Budget and Economic Planning, Senator Abubakar Bagudu as part of IMF’s consultative mission to review Nigeria’s fiscal priorities, macroeconomic framework, and reform trajectory ahead of the IMF’s subsequent country report.

    The meeting underscored Nigeria’s continuing relevance as a prominent advocate for evidence-based policymaking and inclusive economic transformation.

    Schimmelpfennig commended Nigeria’s reform momentum and mentioned the IMF’s interest in understanding how the country’s medium-term strategy aligns with its broader development agenda.

    He said: “We would like to hear your thoughts on current developments — your outlook for the next year and the medium term,” he said. “We understand that you are preparing the medium-term framework, the National Development Plan, and the 2026 budget. Having your overall vision at this stage will be extremely helpful”.

    He observed that while pre-election years often bring uncertainty, Nigeria’s consistent policy coherence highlights its institutional maturity.

    He said: “Every country manages pre-election periods differently,” Schimmelpfennig noted, stating, “But what we see in Nigeria is a continued commitment to reform and policy consistency — a signal of growing institutional strength.”

    Outlining Nigeria’s medium-term outlook and the upcoming National Development Plan, Bagudu reaffirmed the government’s commitment to aligning fiscal reforms with national planning to ensure coherence, efficiency, and inclusive growth.

    He expressed gratitude for the IMF’s constructive engagement and technical assistance over the past two and a half years.

    He said: “We are deeply grateful for the guidance and encouragement we have received from the IMF and World Bank. Your interrogation and feedback have played a vital role in refining our reforms and ensuring that our economic management remains evidence-based”.

    Read Also: Nigerians in Australia endorse aspirant’s governorship ambition

    He said that Nigeria’s reform journey under President Bola Tinubu has been characterised by discipline, inclusion, and transparency — values that have started to produce measurable progress.

    He emphasised that the administration’s vision of a $1 trillion economy by 2030 is based on disciplined reforms and coordinated national planning.

    He noted that the Renewed Hope Ward-Based Development Plan aims to identify and utilise the economic potential of Nigeria’s 8,809 wards, creating a framework for inclusive, bottom-up growth.

    Bagudu further explained the ongoing work on the 2026–2030 National Development Plan, which seeks to align strategies across federal, state, and local governments into a cohesive, data-informed framework for sustainable development.

    He said: “We are working to make the plan a reflection of Nigeria’s collective ambition — one that incorporates fiscal discipline, subnational collaboration, and the reforms necessary to sustain long-term growth”.

    He also underlined the importance of ongoing collaboration with the IMF on macroeconomic modelling, fiscal planning, and comparative global development data to enhance policy insights, noting that Nigeria’s approach to reform remains flexible and future-oriented.

    “We are not lamenting; we are learning and refining. Our partnership with the IMF is about innovation, not dependency, and will continue to guide Nigeria’s reform-driven path towards sustainable growth,” Bagudu said.

  • IMF, Nigeria discuss reforms, new development plan

    IMF, Nigeria discuss reforms, new development plan

    The International Monetary Fund (IMF) and the Federal Government have opened discussions in Abuja on the country’s ongoing economic reforms, medium-term outlook, and preparations for the 2026–2030 National Development Plan.

    The meeting, on Friday, brought together the IMF delegation led by Mr. Axel Schimmelpfennig, Assistant Director of the IMF’s African Department, and Minister of Budget and Economic Planning, Senator Abubakar Bagudu. 

    The engagement formed part of the IMF’s consultative mission to review Nigeria’s fiscal priorities, macroeconomic framework, and reform direction ahead of its next country report.

    IlSchimmelpfennig acknowledged Nigeria’s reform progress and expressed the IMF’s interest in understanding how the country’s medium-term strategy aligns with its development objectives.

    Read Also: APC’s Ukachukwu weeps over burning of APC supporter’s building

    “We would like to hear your thoughts on current developments — your outlook for the next year and the medium term,” he said. 

    “We understand that you are preparing the medium-term framework, the National Development Plan, and the 2026 budget. Having your overall vision at this stage will be extremely helpful.”

    He noted that while pre-election periods can often bring uncertainty, Nigeria’s policy coherence signals institutional maturity. “Every country manages pre-election periods differently,” Schimmelpfennig observed. “But what we see in Nigeria is a continued commitment to reform and policy consistency — a signal of growing institutional strength.”

    Responding, Bagudu said the government remains committed to aligning fiscal reforms with national planning to promote coherence, efficiency, and inclusive growth. He expressed appreciation for the IMF’s constructive engagement and technical assistance over the past two and a half years.

    “We are deeply grateful for the guidance and encouragement we have received from the IMF and World Bank. Your interrogation and feedback have played a vital role in refining our reforms and ensuring that our economic management remains evidence-based,” the minister stated.

    According to Bagudu, Nigeria’s reform efforts under President Bola Tinubu have been driven by discipline, inclusion, and transparency — principles that are beginning to yield measurable results.

    He explained that the administration’s target of building a $1 trillion economy by 2030 is anchored on disciplined reforms and coordinated national planning. The minister added that the Renewed Hope Ward-Based Development Plan seeks to harness the economic potential of Nigeria’s 8,809 wards, providing a framework for inclusive, bottom-up growth.

    Bagudu also spoke on the development of the 2026–2030 National Development Plan, which aims to integrate federal, state, and local strategies into a cohesive and data-driven roadmap for sustainable growth.

    “We are working to make the plan a reflection of Nigeria’s collective ambition — one that incorporates fiscal discipline, subnational collaboration, and the reforms necessary to sustain long-term growth,” he said.

    The Minister further noted the importance of ongoing collaboration with the IMF in macroeconomic modelling, fiscal planning, and comparative data analysis to strengthen policy outcomes.

    “We are not lamenting; we are learning and refining,” Bagudu added. 

    “Our partnership with the IMF is about innovation, not dependency, and will continue to guide Nigeria’s reform-driven path towards sustainable growth.”

  • UN body considers 151 research papers for digital transformation in African countries

    UN body considers 151 research papers for digital transformation in African countries

    The United Nations University on E governance (UNU-EGOV)  at the weekend considered 151 Research papers on digital transformation and e-governance for the development of African economy and transformation. 

    The Research papers were prepared by over 308  authors from across the world who participated in the 18th edition of ICEGov at the Shehu Musa Yar Adua centre, Abuja. 

    No fewer than 508 participants from 51 countries attended the conference with the theme: “shaping the future of digital governance through cooperation, innovation and inclusion.” The 18th edition was organised by the National Information Technology Development Agency, NITDA. 

    Speaking at the closing ceremony, the Director of UNU-EGOV, Delfina Soares praised Nigeria for investing heavily in digital infrastructures and training of the citizenry, stating that Nigeria is on the right track in its digital transformation plan. 

    Soares said she has been in constant touch with the digital transformation drive in Nigeria and that the government is serious about the plan.

    “Before I came here, I did my work, I tried to understand. By the way, we have been in contact and having some cooperation in Nigeria for a long time. Since 2018, we have delegations from Nigeria participating and attending ICEGOV

    Read Also: APC’s Ukachukwu weeps over burning of APC supporter’s building

    “I could understand the priority that the country has been given to this topic. And now here, in the multiple discussions and as you heard at the closing ceremony, we received a lot of papers from authors from Nigeria and it is very clear, not just for me, I think for all the community now, the developments that the country is doing in this area.”

    Speaking on what to expect from ICEGOV she said, “We expect that it continues to be a platform to gather together all the relevant stakeholders so that we can jointly face this challenge. Because we are talking about digital technology and digital transformation, that can bring a lot of benefits and that can have a huge impact on citizens, in the life of a country.”

    The Programme Chair for ICEGOV 2025 Conference, Prof. Adegboyega Ojo, of the Carleton University Canada, noted that, “government is providing a platform for dialogue regarding how technology can be used to improve the way government works in general.

    “Whether it’s really about the way they work internally or the way they develop their policies or the way they provide services to the public,” Prof Ojo said. 

    The Special Assistant on Innovation and Research to the Director General of NITDA, Lukman Lamid said the government hopes to implement the recommendations of the conference.

    “We expect that at the end of this conference, some of the recommendations and best practices that have been talked about here are going to be put together to be a framework for us to develop our digital economy in Nigeria.”

    Lead Business Analyst on Digital Development Initiatives at Central Bank of Nigeria (CBN ), Dr. Robert Ifeonu, who won the research paper category award at the conference, said, “Essentially, it’s presenting a new approach to driving digital transformation in public sector, and the backdrop is a history of failure and unsuccessful digital transformation projects in the public sector, not just in developing countries, It’s a problem that we see even in developed countries as well. Projects that fail, resources are wasted, and it has a cascading effect on citizens trust in government.”

  • Customs Port Harcourt 1 Command collects N33b revenue in October 2025

    Customs Port Harcourt 1 Command collects N33b revenue in October 2025

    The Nigeria Customs Service (NCS) Port Harcourt Command 1 has raked in N247 billion from January 2025 to October 2025, surpassing its annual target with over N31 billion.

    In October 2025 alone, the command  collected  N33 billion revenue.

    Comptroller Salamatu Atuluku made the disclosure in a press briefing in Port Harcourt.

    She said with a 2025 annual revenue target of N216 billion and a monthly average target of N18.07 billion, the Command has surpassed its annual target by over N31 billion. 

    “Equally impressive is the Command’s cumulative revenue for the period of January to October 2025, which stands at N247.461billion compared to N164.080 billion collected within the same period in 2024,” Atuluku said. 

    She said the October collection represented 272 per cent increase over the N9.079 billion the command raked in the corresponding period of 2024.

    Atuluku attributed to dedication, reform, and collaboration as the command has continued to promote legitimate trade, blocked revenue leakages, and contribute significantly to national development.

    Read Also: NUPRC boss Komolafe makes list of continental experts to speak at Pan-African parliament session

    She also said the feat was as a result of the collective commitment and improved efficiency of the command’s operational services.

    She said: “For the month of October 2025, the Port Harcourt Area I Command collected a significant total revenue of 33.753 Billion Naira, as against 9.079 Billion Naira collected in the corresponding month of October 2024. 

    “This is the highest revenue collection in the history of the Command, and represents an extraordinary increase of about 272 percent, a record that stands as a testament to our collective commitment and the improved efficiency of our operational processes.”

    Atuluku said the 10-month revenue translates to a commendable growth of about 51 percent, demonstrating the Command’s steady and consistent revenue performance.

  • Diaspora group hails NUPRC boss Komolafe for global leadership honours

    Diaspora group hails NUPRC boss Komolafe for global leadership honours

    The Nigerians in Diaspora Assembly (NiDA) in London has applauded Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for earning two prestigious international recognitions — a professional doctorate in Leadership (Energy Law) from the International Business School of Scandinavia, and the Global Sustainable Leadership Award at the 2025 Global Sustainable Education and Leadership (G-SEL) Conference, held at the House of Lords, UK Parliament.

    In a statement issued on Saturday, NiDA London President, Sani Abubakar, and Secretary, Mrs. Chioma Okorafor, praised Komolafe for enhancing Nigeria’s image on the global stage.

    “These recognitions reflect the calibre of leadership and innovation Nigerians bring to global governance. Engineer Komolafe’s achievements demonstrate that merit, integrity, and hard work command international respect and reinforce Nigeria’s reputation as a nation of competent professionals,” the group said.

    NiDA London commended Komolafe’s transformative leadership at NUPRC, highlighting his role in implementing reforms under the Petroleum Industry Act (PIA) and advancing indigenous participation in the oil and gas sector.

    “His tenure has brought measurable progress to Nigeria’s upstream industry, from increased rig activity to fiscal surpluses. The Host Community Development Trust has surpassed N350 billion, funding projects that promote peace and tangible development in host communities. These outcomes show that responsible leadership drives both economic growth and social stability,” the statement added.

    Read Also: NUPRC boss Komolafe makes list of continental experts to speak at Pan-African parliament session

    The group noted that Komolafe’s awards symbolize inspiration for Nigerians in the diaspora.

    “Engineer Komolafe’s dual honours serve as motivation to Nigerians worldwide, proving that excellence, transparency, and ethical governance can earn global recognition, regardless of background or location,” NiDA said.

    It further emphasised that the accolades reinforce Nigeria’s rising profile as a credible destination for energy investment.

    “By combining regulatory rigor with strategic foresight, Komolafe has positioned Nigeria as a transparent and competitive hub for upstream investment. His efforts highlight Africa’s capacity to influence global energy policy and inspire young Nigerians to pursue professional excellence,” the statement continued.

    Since taking office, Komolafe has overseen a remarkable expansion in the upstream sector, with active rig counts rising from eight in 2021 to 69 by October 2025 — a growth of more than 760 percent. Revenue performance has consistently exceeded government targets, with surpluses of 18.3 percent in 2022, 14.6 percent in 2023, and 84.2 percent in 2024.

    Under his leadership, the Host Community Development Trust has channelled billions into social and infrastructure projects, strengthening relations between oil companies and host communities while aligning with global best practices.

    NiDA London urged the federal government to continue supporting visionary leaders like Komolafe and encouraged Nigerians abroad to celebrate excellence that reflects the country’s potential.

    “As Nigerians in the diaspora, we take pride in seeing one of our own recognized on such a prestigious platform. We encourage all citizens to uphold integrity, professionalism, and excellence to keep Nigeria a respected player in international development and energy affairs,” the statement concluded.