The Nation Newspaper

Category: Business

  • Tax Reform: JTB transitions to JRB

    Tax Reform: JTB transitions to JRB

    The Joint Tax Board (JTB) has unveiled a new brand identity, signalling its transition to the Joint Revenue Board (JRB) ahead of the commencement of new tax administration laws on January 1, 2026.

    The transformation follows the enactment of the Joint Revenue Board of Nigeria (Establishment) Act 2025, which President Bola Tinubu signed into law on June 26, 2025.

    The unveiling took place during the Board’s 158th meeting which held on Wednesday, December 10, 2025, at the Transcorp Hilton in Abuja.

    Addressing members at the event, the Chairman of the Board, Dr. Zacch Adedeji, described the new logo and brand elements as powerful expressions of the institution’s evolution and future direction.

    “The new brand identity represents renewal, transformation, and our collective commitment to excellence in revenue administration. It reflects what the JRB stands for and will guide our activities and operations in the emerging dispensation,” he said.

    Adedeji explained that the transition from JTB to JRB marks a major step toward building a more unified and efficient national revenue administration structure. He said the reform is designed to deepen collaboration across federal and state revenue authorities, enhance information sharing, and strengthen tax compliance across the country.

    He called on member states and relevant institutions to align fully with the new framework and complete all necessary adjustments to ensure a smooth take-off of the new tax Acts on January 1, 2026. According to him, the success of the new regime depends on “full cooperation and readiness across all jurisdictions.”

    Reflecting on the meeting’s theme, “Managing Transition: Driving Transformation, Building the Future of Tax Administration in Nigeria,” Adedeji stressed the importance of continuous capacity development and sustained investment in modern infrastructure. He said such efforts, combined with stronger cooperation among all tiers of government, would help position Nigeria’s tax system for long-term efficiency.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    The Executive Secretary of the Board, Mr. Olusegun Adesokan who also changed his title from Secretary to Executive Secretary at the event addressed participants, stating that the transition to the JRB signals the beginning of a more inclusive revenue environment. “With the transition, the JRB will create a revenue-friendly environment that works for everyone,” he said.

    Adesokan disclosed that the JRB is already working closely with revenue authorities across the country to harmonise taxpayers’ data and build a unified national database under the Tax ID project. He explained that the Tax ID will be issued to individuals and corporates using foundational identifiers such as the National Identification Number (NIN) and company registration numbers.

    He added that the JRB would go further in coordinating taxes, levies, and rates nationwide. According to him, chairmen of internal revenue services who sit on the Board are already leading efforts to domesticate uniform Taxes and Levies Act across their respective states, with the aim of reducing inconsistencies and strengthening compliance.

    The meeting also featured presentations from various committees of the Board and progress briefings on reform initiatives being implemented across the federation as the JRB prepares for full operation in the 2026 fiscal year.

  • Tinubu unveils security, economic blueprint for marine wealth

    Tinubu unveils security, economic blueprint for marine wealth

    President Bola Ahmed Tinubu has unveiled a fresh national security and economic framework designed to transform Nigeria’s vast marine and aquatic resources into a major driver of economic diversification, job creation and long-term prosperity.

    The President, represented by Vice President Kashim Shettima, disclosed this on Wednesday at the Presidential Villa during a parley with participants of Senior Executive Course 47 of the National Institute for Policy and Strategic Studies (NIPSS).

    He directed all relevant ministries, departments and agencies to immediately study and prepare to implement recommendations contained in the NIPSS report on blue economy development, describing the study as a significant roadmap for national progress.

    In a statement issued by his Senior Special Assistant on Media and Communications in the Office of the Vice President, Stanley Nkwocha, the President said “the blue economy offers a strategic pathway for diversifying our revenue base, creating sustainable employment and revitalising the ecosystems that sustain national development. If properly harnessed, this sector could become an anchor of shared prosperity for generations”.

    Welcoming the findings of the NIPSS study on Blue Economy and Sustainable Development in Nigeria, the President commended the institute for its “analytical rigour, creativity and patriotic duty,” noting that Nigeria’s natural endowment, including an 853-kilometre coastline, rich fisheries, extensive inland waterways and a strategic Atlantic location, places the country in a strong global maritime position.

    He listed aquaculture expansion, port and maritime-corridor modernisation, coastal tourism, marine biotechnology and renewable ocean energy as priority areas of the administration.

    “These opportunities lie within our grasp if we act with discipline and intentionality,” he stated.

    Reaffirming his reform drive, President Tinubu said the creation of the Ministry of Marine and Blue Economy was a strategic step to improve port management systems, strengthen maritime security and enable private-sector participation.

    But he warned that the full benefits of the blue economy would not be realised without a secure operating environment.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    While noting that piracy had reduced through the Deep Blue Project, he cautioned that “oil theft, illegal fishing, smuggling, vandalism and kidnapping still undermine national revenues and investor confidence.

    These threats are real, and this administration is taking decisive steps to address them.”

    In a major policy move, the President also assigned NIPSS an expanded national security mandate, directing the institute to conduct nationwide security diagnostic and present practical recommendations for overhauling the country’s security architecture.

    “The policy paper shall be submitted to my office within an agreed timeline, and it will receive the utmost attention,” he assured.

    Earlier, the Director-General of NIPSS, Prof. Ayo Omotayo, commended the President and the Coordinating Minister of the Economy, Wale Edun, for supporting the Senior Executive Course, noting that participants had conducted field studies in several states and 14 countries.

    Presenting highlights of the report titled Blue Economy and Sustainable Development in Nigeria: Issues, Challenges and Opportunities, Colonel Murkar Dauda said systemic governance gaps, weak institutional coordination and sub-standard infrastructure remained obstacles, but stressed that fisheries, aquaculture, and expanded marine revenues offer substantial opportunities.

    Among its recommendations, the report urged the Federal Government to launch a national fisheries expansion programme to raise fish production from 1.2 million metric tonnes to 10 million metric tonnes within two years, develop a comprehensive financing framework for the marine and blue economy, harmonise legal and policy regimes, and strengthen safety and security on inland waterways.

    The report also called for the establishment of an innovative skills, job-creation and social-inclusion framework to support sustainable growth in the sector.

  • FEC okays N53b for 200 electric buses

    FEC okays N53b for 200 electric buses

    The Federal Executive Council (FEC) yesterday approved a series of projects spanning industry, trade and aviation, including the purchase of 200 electric buses, adoption of a new national industrial policy and upgrades of navigational and safety equipment in airports across the country.

    Speaking with reporters at the State House after the meeting presided over by President Bola Tinubu, the Minister of State for Industry, Trade and Investment, John Eno, and the Minister of Aviation and Aerospace Development, Festus Keyamo, outlined the approvals granted to their respective ministries.

    Eno said five memos were considered for his ministry, with three relating directly to industrial development.

    He said Council approved the supply of 200 electric buses, at the cost of N58 billion for the National Automotive Design and Development Council (NADDC), describing the decision as a significant boost to Nigeria’s automotive and green mobility aspirations.

    He added that the design and construction of a new Bank of Industry (BoI) headquarters at Eko Atlantic City, Lagos, also received approval, at a total cost of N187 billion.

    Meanwhile, Council endorsed the Nigerian Industrial Policy 2025, a document he said was crucial to attracting global development partners and guiding the country’s manufacturing and diversification agenda.

    “When I came in, development partners would not engage us because we lacked an industrial policy. This document now gives Nigeria a proper guide for industrialisation and aligns with the President’s economic diversification drive,” he said.

    On trade and investment matters, the minister said Council approved the construction of internal and access roads within the Lekki Medical Tourism Park, Lagos.

    Nigeria, he added, had also been confirmed as host of the next Intra-African Trade Fair following a competitive bidding process in collaboration with Afreximbank.

    Lagos will serve as host city, with the Wole Soyinka Centre for Culture and Creative Arts (formerly National Theatre, Iganmu) designated as the main venue.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    “This is a huge event for the continent and positions Nigeria strongly within the African Continental Free Trade Area. It reinforces our ambition to become Africa’s hub for industrialisation rather than a dumping ground,” Eno said.

    Keyamo said the Council approved several aviation infrastructure and safety projects, including continued maintenance and technical support services at the Aminu Kano International Airport by China Civil Engineering Construction Corporation (CCECC), the builders of the airport’s new terminal.

    He noted that the arrangement also includes training Nigerians to take over maintenance duties in the near future.

    The minister also announced approvals for advanced navigational and safety technologies, including procurement and installation of the Advanced Surface Movement Guidance and Control System at Lagos and Abuja airports to detect obstructions on runways and alert approaching aircraft.

    Other approvals include construction of modular air traffic control towers in eight airports, installation of aeronautical frequency spectrum monitoring and interference detection systems, and upgrades of air-ground radio communication systems at nine airports, including Lagos, Abuja, Port Harcourt, Kano, Ilorin, Maiduguri, Sokoto and Wukari.

    Keyamo said the measures reflect the President’s insistence on aviation safety across the country.

    “Our airspace is now one of the safest in Africa because of our compliance level since this administration came in. The President continues to insist that Nigerians must fly safely,” he said.

    He added that the Council also approved continued expansion of biometric-enabled electronic gates at all international airports to fast-track immigration processing and improve passenger experience.

  • Vintage Press’ contributions to national revenue excites FIRS

    Vintage Press’ contributions to national revenue excites FIRS

    The Federal Inland Revenue Service (FIRS) has acknowledged and praised Vintage Press Limited, publishers of The Nation Newspapers, for its consistent tax compliance and contributions to Nigeria’s revenue.

    In a ‘Letter of Appreciation for Exemplary Tax Compliance,’ addressed to the Managing Director/Editor-in-Chief, Vintage Press Limited, Mr. Victor Ifijeh and signed by FIRS Tax Controller, Lagos Mainland West, Medium Taxpayers Office, Afolabi A.O., the tax body specifically mentioned the company’s consistency in timely filing, accurate declarations and prompt payment of taxes.

    The FIRS acknowledged Vintage Press as one of its key taxpayers with exemplary Value Added Tax (VAT) compliance profile and overall tax conduct. The recognition further reflects Vintage Press’ strong sense of corporate responsibility and support for national development.

    Afolabi said: “On behalf of the Director Medium Taxpayers Department South and staff of the Lagos Mainland West Medium Taxpayers Office of the Federal Inland Revenue Service (FIRS), I write to sincerely appreciate your organisation for its consistent commitment to tax compliance and its positive contribution to national revenue.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    “We do not take this level of cooperation for granted. Your consistency in timely filing, accurate declarations and prompt payment of taxes greatly enhances the efficiency of tax administration and supports government’s ability to deliver critical public services to Nigerians,” the he stated.

    FIRS stated that Vintage Press tax compliance greatly enhances the efficiency of tax administration and supports government’s ability to deliver critical public services to Nigerians.

    He reiterated the service’s commitment to strengthen existing partnership between both institutions through continuous engagement, transparency and improved service delivery.

    “As a Service, we remain committed to deepening our partnership with you through continuous engagement, transparency and improved service delivery. We trust that this relationship will be sustained and further strengthened in the years ahead.

    “Once again, please accept our sincere appreciation,” Afolabi added.

  • NNPCL petrol imports boost stock to 71.5ml/d in Nov

    NNPCL petrol imports boost stock to 71.5ml/d in Nov

    •Consumption down by 3.8ml/d to 52.9ml/d

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday said the supply of Premium Motor Spirit (PMS) petrol increased to 71.5million litres per day (ml/d in November 2025 from the 46.0ml/d recorded in October 2025 because of the imports by the Nigerian National Petroleum Company Limited (NNPCL) to build inventory and guarantee supply for the Yuletide season.

    This was made known in the X handle document titled: “State of Downstream Sector: NMDPRA Fact sheet (November 2025).”

    The factsheet l, which described the NNPC as the supplier of the last resort added that the 12- month vessels billed to discharge in the previous month could only be offloaded in November to further swell the stock.

    Stating the reasons for high petrol stock in the period under review, NMDPRA said, “The significant increase in PMS supply in November 2025 was on the account of the following: (a) Lower supply recorded in September and October, below the national demand threshold; “(b) The need for boosting national stock level to meet the peak demand period of end-of-year festivities.

    “(c) Imports by the NNPC, the supplier of last resort, in November 2025, to build inventory and supply further guarantee supply during the peak demand period.

    “12 months vessels programmed to discharge into October but spilled into November 2025. Domestic supply volumes are based on disport/discharge figures and refinery truck out.”

    The factsheet also revealed that the average daily consumption of petrol in the country has crashed by 3.8million litres per day (ml/d) to 52.9ml/d in November 2025 from the average daily consumption of 56.7ml in October 2025.

    In the period under review, petrol stock sufficiency has hit 16.65 days from the 11.1 days recorded in October 2025.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    According to the factsheet, out of the six modular refineries listed in the period under review, two were out of production.

    On Modular Refinery and Capacities,” NMDPRA said OPAC and Duport “not on production.”

    It further explained that Waltersmith average capacity utilization is 63.32 per cent while its average diesel supply is 0.133 million litres per day.

    The Authority also disclosed that Edo Refinery has an average capacity utilization of 91.40 with average diesel supply of 0.060ml/d.

    It said Aradel has an average utilization capacity of 62.30 per cent but supplied an average of 0.296 ml/d in the period under review.

    NMDPRA said in November 2025, the country’s average Liquefied Petroleum Gas (LPG) also known as cooking gas daily supply rose to 5mt/day from the 4mt/d in October 2025.

    The document also revealed the volume of gas utilized by strategic sectors, noting that gas-to-power.was 0.645Bscf/d, gas to commercial was 0.581Bscf/d and gas based industries was 0.420 Bscf/d.

    NMDPRA said LNG exported by the (Nigerian Liquefied Natural Gas (NLNG) was 101,555m3/d while NG exported via West African Gas Pipeline (WAGP) was 0.121Bscf/d.

  • Kogi eyes $500m FDI, 50,000 jobs from trade zone

    Kogi eyes $500m FDI, 50,000 jobs from trade zone

    Kogi State Governor, Ahmed Ododo, has led Chinese and international partners to unveil the Ajaokuta Economic City, a new Free Trade Zone (FTZ) projected to attract $500 million in annual foreign direct investment (FDI) and create 50,000 jobs.

    Speaking at the stakeholders’ engagement held at the Transcorp Hilton in Abuja, Ododo said “the project marks a new chapter in Kogi’s industrial growth.”

    He thanked President Bola Tinubu for granting timely approval and supporting the initiative.

    The governor assured investors of a strong security framework for the FTZ and emphasized the role of higher institutions in the state in providing the required skilled manpower.

    “Today, we plant the seed of generational prosperity. Kogi State is the beating heart of Nigeria.

    We don’t talk. We do,” he said.

    The Chief Economic Adviser to the Governor and Chief Executive Officer of Kogi State Investment Promotion and Public Private Partnership Agency (KOSIPPPPA) Aliyu Inda Salami, had earlier in his remarks, said the Ajaokuta Economic City reflects governor’s commitment to ensuring that “Kogi’s resources work for the people.”

     Salami noted that the 4,000-hectare site had already been approved with strategic advantages including power infrastructure, rail lines, inland waterways, and multi modal transportation links.

    He confirmed that the project had received full presidential approval, adding that the groundwork for the first phase had been completed.

    Also speaking, head of the Chinese delegation, Mr. Li Zhensheng, described the Kogi-Hunan Free Trade Zone as a flagship achievement of the Kogi–Hunan Sister City partnership.

    He said China is ready to deploy industrial expertise to support manufacturing, logistics, and technology transfer within the zone.

    Similarly, Mr. Hasan GÜNGÖR, GM of ÖZTÜRK HOLDING CO LLC, Turkey expressed readiness to invest in oil, gas, and logistics.

    He assured that his company would adopt funding models that place “zero burden on government.”

    The Technical Adviser to the Governor, Dr. Sanni Abdullahi Ozomata, outlined the project’s economic impact, saying it is designed as a one-stop industrial ecosystem.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    Ozomata highlighted key incentives including 100per cent capital repatriation, tax exemptions, sector-specific investment windows, and educational exchange programmes with Hunan Province.

    He projected that the Free Trade Zone will generate up to $500 million in annual Foreign Direct Investment and create 50,000 direct and indirect jobs.

    Goodwill messages from the Nigeria Investment Promotion Council (NIPC), Nigeria Export Processing Zones Authority (NEPZA), the Central Bank of Nigeria (CBN), the North Central Development Commission, and the Ministry of Finance and other stakeholders described the project as a major endorsement of the Federal Government’s Renewed Hope Agenda.

    Key highlight of the event was the signing of the administrative framework for the Free Trade Zone.

    The agreement was signed by Aliyu Salami for the Kogi State Government, Mr. Li Zhensheng for Zhuzhou Municipality, and Alhaji Isyaku Rabiu of IRS Group as a development partner.

    The event brought together investors from Nigeria, China, Turkey, and other countries to explore opportunities within the Kogi–Hunan Free Trade Zone.

  • Customs FOU intercepts over N10billion goods

    Customs FOU intercepts over N10billion goods

    The outgoing Area Controller, Nigeria Customs Service (NCS), Federal Operation Unit, Zone ‘A’, Ikeja, Mohammed Shuaibu, said in Lagos yesterday, that the Unit intercepted prohibited goods worth over N10 billion between 23rd of April and December 10, this year.

    Shuaibu disclosed this during a brief handing over ceremony held at the Unit.

    At the ceremony, Shuaibu, who was recently elevated to the position of Assistant Comptroller General of Customs (ACG Headquarters, handed over the mantle of leadership of the Unit to the newly appointed Area Controller, Aliyu Gambo.

    At the colorful event, Shuaibu was showered with encomium and gift presentations by officers and men of the unit.

    In his address,  Shuaibu said it was an honour for him to serve in the Unit.

    According to him: “Today marks another significant milestone in my journey as a customs officer, as I formally handover the leadership of the Controller of FOU Zone A to my successor this day 10th December 2025.

    “It has been an honor to serve in this capacity, I remain grateful to the Almighty God and to the Comptroller-General of Customs, Bashir Adewale Adeniyi and his management team for the confidence reposed in me.

    Upon his resumption of office on 23rd of April this year, Shuaibu said, “I pledged to deploy my wealth of experience through intelligence driven operation, we have remained faithful to that commitment. I have witness tremendous dedication, resilience and team work from our officers.”

    These collective efforts, Shuaibu added “resulted in huge successes in our anti-smuggling operations, together, we confronted high profile challenges and we tackled emerging issues, we successfully thwarted the activities of smugglers to a minimal level.

    During this period, he said, “ the unit recorded a total of 476 interceptions including 761 seizures and items valued at N10.1billion, these include; 38 trailers of foreign parboiled rice, 98 exotic tokunbo vehicles, 2,350 kg of Cannabis Sativa, 1,820 Jerrycans of PMS.

    Others, he said, “ included; 15 assorted rifles, 4,841 rounds of ammunition, 2 industrial drones, 25kg of crystal methamphetamine, 4 cylinders of explosives each weighing 50kg, 20,000USD and 110CFA amounting to N31million which was handed over to the EFCC.

    “A total of 38 suspects were arrested in connection with these seizures, additionally 8 containers of expired pharmaceutical products valued at N7.1billion were intercepted.

    “Through its activities, the unit recovered a total sum of N419million from under-valuations, false declarations and subsequently issued Demand Notices where necessary.

    “As I pass the baton to my successor, I am confident that the foundation we have built will continue to flourish. I urge all officers to extend the same spirit of cooperation, dedication and professionalism to the new Controller to strengthen the fight against smuggling” he said

    On his part, Gambo Aliyu appreciated the Comptroller-General of Customs, Dr Bashir Adewale Adeniyi for the confidence reposed in him to serve in the new capacity.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    He also commended Shuaibu for his commitment to service and for adding great value to the service mandate.

    Gambo assured that the FOU Zone A under his watch would consolidate on the achievements of ACG Shuaibu for even greater successes.

    “I am aware of the enormous responsibilities that come with this position, especially within the zone as strategic and dynamic as Lagos and its environs. However, I am confident that with the cooperation and professionalism of the gallant men and officers of this unit, we would continue to fulfil these mandates diligently.”

    As we move forward together, he said, “our key focus areas would include among others; enhanced enforcement operations. We shall intensify intelligence driven operations to combat smuggling and all forms of illicit trade that threatens national security and economic growth.

    “Secondly, high standards of integrity and discipline, as well as accountability would be non-negotiable. Thirdly, we shall deepen collaboration with the stakeholders, sister agencies and community leaders to strengthen border security and facilitate lawful trade.

    “On the aspect of capacity building and welfare, the motivation and welfare of officers would be prioritised to ensure improved efficiency and operational readiness.

    Their operations, Gambo said, would be underpinned by reputation management, change management and compliance management.

  • Aviation workers urge Plateau on airport

    Aviation workers urge Plateau on airport

    The Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has urged the Plateau State government to invest in the construction of airports for overall development of the state.

    Its President, Comrade  Illitrus Ahmadu said the state remains Nigeria’s leading tourist destination if the right investment is put in place to boost its tourism, logistics and trade.

    In his address at the 4th Quadrennial delegates conference of ATSSSAN held in Jos,  Ahmadu said he is  aware that the state government has plans to invest in aviation and allied ventures and called for the translation of the plan into concrete action for the benefit of the state.

    Ilitrus said there is opportunity yet to be tapped in the civil aviation infrastructure at – Yakubu Gowon Airport in Jos.

    He assured that ATSSSAN will collaborate with the state government to conduct a civil aviation career exposition with a view to creating awareness amongst students and primary school pupils in the state about career prospects in the civil aviation industry.

    The ATSSSAN President recalled that in the early 1980s, Plateau State government had an aviation scholarship portfolio and indeed sponsored its qualified sons and daughters to study at the Nigerian College of Aviation Technology, Zaria.

    He noted that it was the memories of those beautiful years that encourage ATSSSAN to again approach the state government for support and partnership and without hesitation, having seen the value addition in the submission in terms of the benefit of the career exposition it will bring to young minds in the state.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    Illitrus noted that from the corridor of frugality and strict financial discipline, ATSSSAN saved resources that were used to liquidate the gratuity of all the workers of the secretariat adding that some of whom resigned their appointments willingly in pursuit of higher callings, while others left after a long period of dedicated service to ATSSSAN.

    Plateau state governor, who was represented by the Deputy, Mrs. Josephine Piyo said the conference theme: “Human Capital Needs of Civil Aviation in Nigeria: Challenges and Prospects” is both timely and strategic, affirming that Nigeria’s ability to remain competitive and meet international standards in the rapidly evolving aviation landscape rests significantly on the quality, competence and continuous development of its human capital.

    The governor said:  “This gathering presents another important opportunity to evaluate progress, strengthen strategies, and chart new pathways that will improve safety, service delivery, labour relations, and technological advancement across the aviation sector.

    “Your thoughtful engagement with these critical issues demonstrates a deep sense of responsibility and unwavering commitment to building a more efficient, resilient, and future-ready aviation industry for our nation.”

  • EU’s hydro power project to deliver 620kw

    EU’s hydro power project to deliver 620kw

    The European Union (EU) has said its hydropower project in Balanga dam, Gombe State will deliver renewable energy output of 620 kilowatts.

    The EU-funded small hydropower project is scheduled for commissioning in March 2026.

    With EU support, delivered in partnership with United Nations Industrial Development Organization (UNIDO), the Gombe State government, and other stakeholders, the facility is now being upgraded to generate 320 kilowatts of hydropower.

    This will be complemented by an additional 300 kilowatts of solar PV, bringing total renewable energy output to 620 kilowatts.

    The announcement came during an impact visit by officials from the European Union Delegation to Nigeria and ECOWAS, who observed the dam’s transition from an underutilised irrigation facility to a multi-purpose hub for renewable energy and agriculture.

    Constructed between 1979 and 1984 to support irrigation and water supply, the dam operated for decades with only its irrigation function in use.

    Head of Section, Green and Digital Economy at the EU Delegation, Inga Stefanowicz said the initiative illustrates the value of strong partnerships.

    Stefanowicz said: “The European Union’s support demonstrates how international collaboration can transform infrastructure into engines of growth and opportunity. Balanga is a model of sustainable development, bringing energy, jobs, and economic empowerment together in one integrated initiative.

    “Gombe State has demonstrated remarkable commitment in securing co-funding and partnering effectively with the EU. This project is a blueprint for how governments and international partners can work together to deliver tangible results for communities.

    “The initiative does not only generate electricity. It supports food processing, creates jobs, and strengthens local economies. That is the real power of sustainable development.

    “The European Union’s commitment to Balanga is more than an investment in infrastructure. It is an investment in people. This project will deliver lasting benefits, transforming lives across Gombe State and serving as a model for sustainable development in Nigeria.”

    The state Commissioner for Water, Environment, and Forest Resources, Mohammed Fawu, said: “For years, the dam was underutilised, but today it is a hub of activity. The project is creating employment opportunities, supporting livelihoods, and ensuring that the people of Gombe benefit directly from the resources in their communities.

    “Balanga is about people; about giving youth opportunities to work, earn, and contribute to the prosperity of their communities. This is as much a human development project as it is an energy project.”

    According to the commissioner, the energy generated will primarily serve a proposed agro-processing zone to be located three kilometres from the dam.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    Fawu said the zone will enable farmers to convert crops such as rice into finished products, expanding income opportunities and strengthening the agricultural value chain.

    The commissioner added that the project also includes an expansion of irrigation canals, increasing the cultivable area from 2,200 hectares to nearly 11,000 hectares.

    Also speaking, UNIDO Representative, Azubike Emechebe, said: “Through this initiative, youth and local communities are being empowered. The EU’s funding ensures productive use of energy, creating jobs, improving livelihoods, and enabling industries to grow.”

    Programme Manager on Green and Circular Economy, Godfrey Ogbemudia, said the project will transforms Balanga from a quiet town into a hub of energy and opportunity.

    Ogbemudia said: “Reliable electricity will power businesses, schools, and homes, improving the daily lives of residents. Balanga at night will no longer be a place of darkness. With consistent electricity, homes, businesses, and schools can function fully, and communities will thrive.”

    Also speaking, the Paramount Ruler of the Waja Chiefdom, HRH Mohammed Danjuma Muhammad, assured the visiting delegation of the community’s strong ownership and commitment to safeguarding the infrastructure.

  • Nigerian, others shine at NBA Accelerator

    Nigerian, others shine at NBA Accelerator

    NBA Africa has announced five prize-winning startups from the second edition of the NBA Africa Triple-Double Accelerator, an initiative designed to strengthen Africa’s technology ecosystem and support the continent’s next generation of entrepreneurs.

    The accelerator, launched last year, attracted more than 700 applications from 32 African countries. Ten finalists were selected to pitch their solutions at a Demo Day held at Carnegie Mellon University Africa (CMU-Africa) in Kigali, Rwanda, before a panel of international industry leaders.

    The winning startups are Reborn (Morocco), Fitclan (Egypt), Athlon Technology (Egypt), Atsur (Nigeria) and Songdis (Nigeria). Each company received financial support and admission into CMU-Africa’s 12-month Business Incubation Programme, valued at up to $70,000, aimed at helping African startups transform early-stage concepts into scalable, market-ready products and services.

    The top three winners also received $10,000 each in Application Programming Interface (API) credits and an exclusive immersion day with the OpenAI engineering team at OpenAI’s headquarters.

    Reborn, which emerged first, offers advanced performance indicators that provide athletes with detailed insights into their physical condition and on-field performance. The Moroccan startup was awarded $25,000 in cash, alongside incubation support, API credits and the OpenAI immersion experience.

    Second-placed Fitclan, a digital fitness platform serving individuals and corporate clients through a flexible subscription model, received $15,000 in cash, incubation support, API credits and the OpenAI immersion opportunity.

    Athlon Technology, which placed third, focuses on providing affordable, AI-powered video analysis for amateur and budget-constrained sports teams using accessible mobile technology. The Egyptian startup was awarded $5,000 in cash, incubation support, API credits and an OpenAI immersion day.

    Nigeria’s Atsur, which placed fourth, leverages blockchain technology to promote investment in African art while supporting artists and creative communities. Songdis, also from Nigeria and placed fifth, offers digital distribution and related services tailored to African independent artists and record labels. Both startups received $2,500 in cash and a place in CMU-Africa’s Business Incubation Programme.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    The Demo Day judges included CMU-Africa Director Conrad Tucker, OpenAI Africa Lead Emmanuel Lubanzadio, and ServiceNow Africa Vice President and Managing Director Cheick Camara, alongside ServiceNow’s Head of Strategy and Operations, Nikki van Gasse. The event was supported by CMU-Africa, ServiceNow and OpenAI, with ALX Ventures serving as the Official Operating Partner for the second consecutive year.

    Speaking on the outcome, NBA Africa Chief Executive Officer Clare Akamanzi said the quality of ideas presented by the finalists reflected the growing depth of innovation across the continent.

    “We continue to be amazed by the creative, talented and passionate entrepreneurs who participate in the NBA Africa Triple-Double Accelerator,” Akamanzi said. “The finalists and prize-winning companies stood out with bold and innovative solutions that are shaping the future of sport and entertainment in Africa. The support provided through this programme will help them scale their products and create lasting impact across the continent and globally.”

    NBA Africa, an affiliate of the National Basketball Association, oversees the league’s business operations on the continent, including the Basketball Africa League (BAL), while driving youth development, media distribution, corporate partnerships and social responsibility initiatives across all 54 African countries.