The Nation Newspaper

Category: Business

  • FIRS, France seal strategic tax partnership

    FIRS, France seal strategic tax partnership

    With just weeks to its formal transition into the Nigeria Revenue Service (NRS), the Federal Inland Revenue Service (FIRS) has taken another major step toward a new era of modern tax administration by signing a memorandum of understanding with France’s Direction Générale des Finances Publiques (DGFP).

    The agreement, signed yesterday at the French Embassy in Abuja, sets the stage for deeper cooperation between both countries in technology, compliance, capacity development, and global tax coordination.

    FIRS Chairman Zacch Adedeji, who signed on behalf of Nigeria, described the MoU as a strategic bridge between two tax authorities eager to strengthen expertise and share innovations. “This event reflects a shared commitment to building stronger, more resilient, and more forward-looking tax administrations for the two countries,” he said.

    French Ambassador to Nigeria, Marc Fonbaustier, who signed on behalf of DGFP, said the partnership offers a meaningful pathway for Nigeria and France to deepen their collaboration in the evolving global tax environment. His remarks reaffirmed France’s readiness to work closely with Nigeria as both nations confront new demands in public finance management.

    Adedeji, in a statement signed by his Special Adviser on Media, Dare Adekanmbi, said one of the most critical areas of collaboration is digital transformation. He explained that Nigeria stood to benefit considerably from France’s advanced deployment of technology in compliance management, taxpayer services, and data-driven enforcement. At the same time, he noted that France will also gain from Nigeria’s experience. According to him, France will receive “fresh perspectives from Nigeria’s rapid digital expansion, our agile adoption of new tools, and the unique solutions we are developing for a fast-growing, technology-driven population.”

    He added that the exchange of ideas between both countries will be timely as tax systems globally confront rapid developments in artificial intelligence (AI) deployment, cybersecurity concerns, and cross-border taxation. “This two-way exchange is essential as both countries adapt to emerging challenges such as Artificial Intelligence deployment, cybersecurity, and cross-border taxation,” he said.

    Adedeji also revealed that Nigeria intends to deepen engagement with more international partners as part of its future-looking tax administration strategy. He said the collaboration with France represents the type of global relationship that enables tax institutions to share innovations, strengthen compliance systems, and broaden operational capacity.

    Speaking on workforce development, the FIRS Chairman said the partnership will help Nigeria learn from France’s structured human-capital systems, especially in areas such as professional standards, organisational discipline, and continuous learning. He stressed that Nigeria’s own experience working with a young, energetic and diverse workforce will also provide useful lessons for DGFP.

    “While we look forward to learning from France’s well-structured human capital systems, particularly in professional standards, continuous learning, and organizational discipline, we also believe that our experience in managing a young, dynamic and diverse workforce will offer valuable insights to DGFIP,” he said.

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    He expressed strong expectations that the collaboration will extend to international taxation, exchange of information, transfer pricing, and work relating to Base Erosion and Profit Shifting (BEPS). Adedeji noted that as economic activities increasingly transcend borders, cooperation between tax authorities has become indispensable.

    “As economic activities become increasingly borderless, the ability of both our institutions to collaborate, share intelligence, and harmonise approaches will be crucial. This MoU provides exactly the platform we need to deepen that cooperation,” he said.

    Adedeji linked the partnership to Nigeria’s broader transformation agenda as it prepares to take off as the NRS in January. “As Nigeria moves into the era of the Nigerian Revenue Service, we see this partnership as a cornerstone of our transformation, one that will help us build a revenue administration that is modern, trusted, innovative, and globally connected,” he said.

  • Tax Reform: JTB transitions to JRB ahead of 2026 tax regime

    Tax Reform: JTB transitions to JRB ahead of 2026 tax regime

    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 Ahmed 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.

    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.

  • NGO reiterates N50b demand over spills

    NGO reiterates N50b demand over spills

    Environmental rights group, Save the Earth and Secure the Future (SESF), has reiterated its demand for N50 billion compensation and full cleanup of affected communities, and investigation of concerned National Oil Spill Detection and Response Agency (NOSDRA) officials over perceived “ecocide” linked to multiple oil spills in OML 40.

    In a statement signed by Mr. Nehemiah Tobolayefa and Mrs. Tari Gideon, the group accused Nigeria Exploration and Production Limited (NEPL) and ELCREST of failing to clean up the October 28, 2023 spill and two subsequent spills, as well as allegedly dumping hazardous waste around the Opuama Flow Station.

    “They have become the mouthpiece of the companies. A rat defends the snake that bites him, while the forest burns,” the group said, criticising community leaders who recently defended the operators.

    SESF said a joint investigation visit occurred nearly two weeks after the 2023 spill and confirmed equipment failure. It cited earlier petitions and press briefings by community elders in 2024 which it said were ignored by the companies.

    The group invoked Section 54 of the Petroleum Industry Act and EGASPIN guidelines to argue that NEPL and ELCREST are legally responsible for cleanup, including so-called legacy spills. 

    It also claimed rising deaths and cancer cases in the area, referencing the UNEP Ogoniland report.

    Efforts to get reactions from NEPL and NOSDRA were unsuccessful, as both did not respond to earlier messages seeking comments on the matter.

  • SEC to seize CBEX’s N1.3tr cash over ponzi scheme

    SEC to seize CBEX’s N1.3tr cash over ponzi scheme

    The Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal (IST) to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants alleged to have operated an unlawful digital asset investment scheme that defrauded Nigerians of an estimated N1.3 trillion.

    The request was made during the first sitting of the sixth Tribunal in the case IST/OA/02/2025: Securities and Exchange Commission & Anor v Crypto Bridge Exchange (CBEX) and 25 Others, presided over by the Tribunal Chairman, Hon. Aminu Jinaidu.

    SEC urged the Tribunal to compel commercial banks and other financial institutions in Nigeria to immediately freeze all accounts linked to the defendants.

    The Commission also sought orders for the seizure of houses and other assets allegedly acquired with funds sourced from unsuspecting members of the public who invested through CBEX.

    According to SEC, CBEX operated illegally by posing as a digital assets platform and capital market operator despite failing to register with the Commission.

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    The regulator said the platform lured investors with unrealistic offers. “CBEX is an unregistered platform promising its users 100 percent return on investments within 30 days, which is unlawful and contrary to Section 3(b) of the Investments and Securities Act 2025,” SEC submitted.

    The Commission further told the Tribunal that international regulators had previously flagged the platform. It disclosed that the Securities and Futures Commission of Hong Kong issued an advisory on April 23, 2024, warning that CBEX was a suspicious virtual asset entity.

    According to the advisory, the platform used a name resembling that of a genuine property rights trading organisation in China, despite having no affiliation with it.

    The Tribunal noted that CBEX and the other defendants failed to appear and were not represented in court. As a result, Hon. Jinaidu ordered that hearing notices be served on the defendants through national newspapers.

    CBEX entered the Nigerian market around July 2024, operating through a website and mobile application. The company claimed to use advanced Artificial Intelligence to generate unusually high profits from cryptocurrency trading. Investors were promised returns of up to 100 per cent within a 40- to 45-day lock-in period.

    The scheme collapsed months later, triggering widespread losses. Investigations and testimonies from affected investors revealed that CBEX functioned as a Ponzi scheme that siphoned over N1.3 trillion (approximately $800 million) from the public before disappearing.

    The matter was adjourned to January 27, 2026.

  • NLNG seeks global strategy to sustain LNG growth

    NLNG seeks global strategy to sustain LNG growth

    Nigeria LNG Limited (NLNG) has urged global energy leaders to embrace deeper collaboration to stabilise LNG supply, enhance affordability for emerging markets, and secure long-term energy expansion in an increasingly fragmented and uncertain world.

    The company’s Managing Director and Chief Executive Officer, Philip Mshelbila, made the call while speaking on the theme, “Energy Expansion in a Challenging Global Trade Environment,” at the World LNG Summit & Awards in Istanbul, Turkey.

    Mshelbila warned that without coordinated action across the entire LNG value chain, the world risks deepening the energy divide, undermining energy security, and slowing progress toward a balanced, lower-carbon global energy mix.

    According to him, the geopolitical tensions, unilateral national policies, and sanctions shaping today’s energy market require a new model of LNG contracting—one that extends beyond conventional price and volume terms.

    “To safeguard global energy security from the risks of geopolitics and unilateral policies, LNG contracts must evolve from simply defining volume and price to actively managing sovereign risk through diversified supply sources, flexible delivery routes, and adaptive contract terms,” he stated.

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    Mshelbila emphasised that global energy expansion could stagnate unless structural hurdles around LNG supply, pricing, financing, and decarbonisation are urgently addressed. He said the current status quo poses serious risks, especially for developing economies struggling with volatile gas prices.

    Reflecting on shifting trade patterns since the 2022 supply shock, he noted that the LNG market has witnessed a renewed appetite for long-term contracts, even as short-term agreements remain attractive. This dual demand, he said, is driven by heightened global uncertainty and the desire of buyers and producers to lock in supply security.

    Addressing how LNG can continue to meet growing global energy needs, the NLNG chief highlighted the importance of three core pillars—availability, affordability, and decarbonisation. He explained that while natural gas is often viewed as a transition fuel, its relevance will extend far beyond the next few decades if these pillars are strengthened.

    Mshelbila pointed to significant supply-expansion projects in the United States and Qatar, along with NLNG’s own Train 7 development, which is set to add eight million tons per annum of new capacity. These investments, he said, are critical to meeting expected long-term demand growth.

    However, he cautioned that affordability remains LNG’s most critical challenge. Persistently high prices, he argued, have forced several developing nations to revert to cheaper but more carbon-intensive fuels such as coal—undermining global climate ambitions.

    The World LNG Summit, now in its 25th year, continues to be the industry’s premier global platform for policymakers, producers, buyers, financiers, and technology innovators to shape the future direction of LNG amid mounting geopolitical and economic uncertainties.

  • CBN orders Agric Fund Board to widen credit access to farmers

    CBN orders Agric Fund Board to widen credit access to farmers

    The Central Bank of Nigeria (CBN) has charged the newly inaugurated Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF) to ensure that lack of collateral or remote location no longer prevents Nigerian farmers from accessing credit.

    The Governor of the CBN, Mr. Olayemi Cardoso, gave the charge in Abuja during the inauguration ceremony, describing the Scheme as a critical institution that must evolve to meet the financing needs of modern agriculture.

    The 48 years old ACGSF is one of Nigeria’s foremost and longest-standing development finance programmes, with a rich history in our socio-economic journey. It is not the CBN going back to interventions in some sectors but a continuation of the apex bank’s statutory mandate which recognises ACGSF.

    Cardoso said the core objective going forward is to make agricultural credit more accessible and inclusive. According to him, “our goal should be that a lack of collateral or remote location is no longer an insurmountable barrier to financing.” He described agriculture as central to Nigeria’s economic structure, pointing out that despite its contribution to national output and employment, credit to the sector remains very low.

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    “Agriculture remains the backbone of our economy, contributing over one-fifth of Nigeria’s GDP and employing nearly two-thirds of our working population. Yet, paradoxically, it receives only a small fraction of formal credit – less than 5 percent of banks’ lending goes to the agricultural sector,” he said.

    The CBN Governor said the 48-year-old ACGSF was established to reverse this trend, noting that it remains one of Nigeria’s most enduring development finance tools. “It is not the CBN going back to interventions in some sectors but a continuation of the apex bank’s statutory mandate which recognises ACGSF,” he said.

    Cardoso urged the Board to ensure that the Scheme becomes a reliable partner for farmers seeking financing. “Every hardworking farmer with a viable project should find in the ACGSF an enabling partner that helps them access the robust support they need to grow their enterprise,” he said.

    He stressed the need for stronger monitoring mechanisms to track the impact of guaranteed loans, noting that the era of disbursing funds without verifiable outcomes must end. “It is essential to institute a framework for tracking the impact of guaranteed loans on agricultural productivity and farmers’ welfare. This Board should champion the use of data and technology for real-time monitoring of projects supported under the Scheme,” he said.

    According to him, leveraging tools such as satellite imagery to track crop progress and digital dashboards to monitor loan disbursements would improve transparency and accountability. “Regular oversight will ensure that loans guaranteed by the Fund are being used for their intended purposes and are yielding positive results,” he added.

    Cardoso also said that proper evaluation will help the Board identify emerging risks such as regional loan defaults and respond proactively through borrower support or adjustments in the Scheme’s approach. He asserted that sound evidence of increased output, higher farm incomes, and better food security is necessary for policy decisions that will strengthen the Fund’s operations.

    He described the inauguration of the Board as timely, noting that Nigeria must urgently bridge its lingering agricultural financing gap. “This longstanding financing gap has constrained the potential of millions of Nigerian farmers. The inauguration of this Board, therefore, comes at an opportune time as we embark on a bold new chapter in agricultural finance,” he said.

    Reviewing the Scheme’s legal foundation, Cardoso stated that “since its establishment by Decree No. 20 of 1977, the Agricultural Credit Guarantee Scheme Fund has played a vital role in de-risking agricultural lending and encouraging financial institutions to extend credit to farmers and agribusinesses.” He noted that by guaranteeing up to 75 per cent of agricultural loans, the Fund has enabled banks to lend to categories of farmers that would ordinarily have been excluded.

    However, he stated that the complexities of today’s agricultural landscape require the Scheme to be more dynamic. “Modern agriculture is far more complex – characterized by extensive value chains, advanced technologies, climate and security risks, and stakeholders ranging from smallholder cooperatives to agritech startups. We must therefore reposition the ACGSF as a dynamic, forward-thinking scheme capable of addressing these complexities,” he said.

    The CBN Governor recalled that a 2019 amendment expanded the Scheme’s share capital from N3 billion to N50 billion, placing it on stronger footing. He commended the Board’s broader composition, noting that the law now provides for a representative of Nigerian farmers. “Such inclusivity is strategic; it enshrines partnership between policymakers, financiers, and the farming community in guiding the Scheme’s activities,” he said.

    Cardoso said Nigeria’s agricultural sector sits at “the crossroads of unprecedented opportunity,” aligning with the Federal Government’s Renewed Hope agenda to build a resilient, technologically advanced, and inclusive agricultural economy. Achieving this vision, he said, requires dismantling long-standing barriers to credit access, especially for smallholder farmers who produce the bulk of Nigeria’s food.

    “Many lack collateral or credit history and are perceived as high-risk by conventional lenders. This is a structural anomaly we can no longer afford, given that these same smallholders feed our nation and drive our rural economy,” he said.

    He called on the ACGSF to play a transformative role in making agricultural credit more affordable and impactful. According to him, the Scheme must catalyse investments in modern inputs, irrigation, mechanisation, storage, processing, and other activities essential to productivity and income growth.

    He said the Board must also focus on key strategic priorities, including deepening financial inclusion for women and youth. “We know that rural women, for example, are key actors in agriculture, yet they often have even less access to credit and technology than their male counterparts,” he said, noting that nearly 60 percent of rural women do not use mobile internet. He urged the Scheme to work with microfinance banks, cooperatives, and fintechs to design suitable credit products using mechanisms such as group lending and agent banking.

    Cardoso quoted Aristotle’s maxim that “nature abhors a vacuum,” saying institutions must continually be guided and strengthened. “With today’s inauguration, we have filled a void and renewed our commitment to a prosperous, food-secure Nigeria,” he said.

    He urged the Board to approach the task before it with commitment, saying the transformation of Nigeria’s agricultural value chains will require determination and innovation.

    “Let us move forward together with innovation, integrity, and unyielding dedication,” he said. “We have an opportunity to ensure that the ACGSF not only regains its position but rises to new heights as the cornerstone of Nigeria’s agricultural transformation” he said.

    The CBN Governor pledged full support to the Board as it begins its term. “The Central Bank of Nigeria stands ready to provide all necessary support to enable you to deliver on your mandate. I am confident that with your expertise and commitment, the ACGSF will drive significant progress toward our shared goals of agricultural prosperity and national economic development,” he said.

  • NNPC/Heirs Energies lead OML 17 gas commercialisation

    NNPC/Heirs Energies lead OML 17 gas commercialisation

    The NNPC/Heirs Energies OML 17 Joint Venture yesterday advanced Nigeria’s gas commercialisation and environmental initiative with the symbolic signing of Gas Flare Commercialisation Agreements under the Nigerian Gas Flare Commercialisation Programme (NGFCP) and approved Non-NGFCP frameworks.

    The ceremony, which held in Lagos, marks a significant transition from regulatory approvals to structured commercial execution, enabling flare gas volumes across OML 17 to be captured.

     and deployed for productive use, including power generation, industrial applications, LPG and CNG, in alignment with Nigeria’s gas development priorities and energy-transition objectives.

    The agreements was signed between Heirs Energies, as operator of the OML 17 JV and approved flare gas offtakers – AUT Gas, Twems Energies, Gas & Power Infrastructure Development Limited (GPID), PCCD and Africa Gas & Transport Company Limited (AGTC) – under frameworks designed to eliminate routine flaring while converting previously wasted resources into economic value.

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    Speaking at the ceremony, the Chief Upstream Investment Officer, NNPC Upstream Investment Management Services (NUIMS), Seyi Omotowa, an engineer, representing NNPC Limited, described the milestone as a practical demonstration of Nigeria’s commitment to gas-based development.

    “For us at NNPC Limited and NUIMS, flare gas commercialisation is not a compliance exercise; it is a strategic pathway to improving energy availability, deepening gas-based industrialisation and strengthening Nigeria’s position as a responsible energy producer. OML 17 has become a practical model of this vision, moving decisively from approval to delivery,” Omotowa said.

    He commended Heirs Energies for disciplined execution and investment, noting that the JV continues to set benchmarks for operational delivery and gas development within Nigeria’s upstream sector.

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Chief Executive, Engr. Gbenga Komolafe, who was represented by Senior Manager, Ojo Ezekiel, reaffirmed the Commission’s support for the project, describing flare gas commercialisation as a cornerstone of Nigeria’s decarbonisation pathway under the Petroleum Industry Act (PIA) 2021.

    “This ceremony demonstrates Heirs Energies’ commitment to eliminating routine gas flaring across OML 17 and aligns fully with the Commission’s Gas Flare Commercialisation Programme and national energy and emission-reduction objectives,” Ezekiel said.

    Heirs Energies’ Chief Executive Officer, Osa Igiehon, noted that the agreements reflect the company’s broader gas-led strategy and brownfield excellence approach, focused on creating long-term value for Nigeria.

    “Gas sits at the heart of Nigeria’s development journey. Through disciplined investment, partnership with regulators and credible offtakers, and a clear execution focus, we are converting waste into value, strengthening domestic energy supply and supporting responsible operations across OML 17,” he said.

    The NGFCP and Non-NGFCP flare gas projects build on recent operational progress by the OML 17 JV, including a significant increase in gas delivery to the domestic market through brownfield interventions and infrastructure optimisation. The JV has also continued to deepen its host-community partnerships through targeted healthcare interventions, education support and skills-development programmes across its areas of operation.

    With the symbolic signing completed, the flare gas offtakers are expected to progress into full project implementation, working closely with the JV, regulators and communities to deliver commercial, environmental and social outcomes.

    The OML 17 NGFCP initiative reinforces Nigeria’s position as a gas-led economy, supporting domestic power generation, industrial growth and responsible resource development while advancing the country’s energy-transition objectives.

  • TY Logistics’ facility to position Nigeria as regional trade hub

    TY Logistics’ facility to position Nigeria as regional trade hub

    TY Logistics Park FZE, a flagship logistics facility in the Lekki Free Zone, Lagos, will solve Nigeria’s long-standing supply chain inefficiencies and ultimately position the country as a competitive hub for regional trade.

    Chairman of the company, Mr. Theo Danjuma Jr., who made this known at the commissioning of the Park in Lagos, said its purpose-built state-of-the-art facility is West Africa’s first grade-A free zone contract logistics facility in the Lekki Free Zone.

    The Park, which is built to international standards and designed as a fully integrated contract logistics platform, marks a major milestone for Nigeria’s logistics and industrial sector.

    The facility introduced a new operational benchmark for warehousing, inventory management, and regional distribution in West Africa.

    The 29 ,000 sqm facility, which is located beside the Lekki Deep Sea Port and within minutes of the upcoming international airport, offers over 45,000 pallet positions, advanced storage systems, and a fully automated Warehouse Management System (WMS) providing real-time visibility and audit-ready operations.

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    Danjuma Jr. who is son of elder statesman and former Minister of Defense, Gen. Theophilus Danjuma (rtd), said the company’s advanced WMS ensures full inventory transparency, real-time stock control, and error-free order processing — critical for high-velocity sectors and essential for products with shelf-life sensitivities.

    This technology, according to him, allows goods to move faster, with greater accuracy and significantly reduced operational friction.

    “Our strategic location in the Alaro Free Zone just minutes from the Lekki Deep Sea Port positions us to offer unmatched import and export efficiencies.

    “This includes importer-of-record solutions, duty deferment, tax optimisation, and enhanced regional distribution into West African markets.

    “But beyond the infrastructure and systems, our true focus is partnership. We see ourselves not just as a logistics provider, but as an extension of our clients’ business — taking on the logistical complexities so they can focus on what truly matters: growing their footprint, strengthening their brand, and increasing market share,” he said.

    Danjuma Jr. further stated that under the leadership of its CEO, Arno Van Der Merwe, TY Logistics Park FZE is positioned to deliver full contract logistics solutions to medium and large businesses across Fast Moving Consumer Goods (FMCG), electronics, automotive parts, fashion, pharmaceuticals, and many other industries.

    Also speaking at the event, Founder & Group CEO of Rendeavour, Mr. Stephen Jennings, highlighted the strategic role of industrial and residential ecosystems like Alaro City in attracting investment and strengthening Nigeria’s global trade competitiveness.

    On his part, Managing Director of TY Logistics Park FZE, Arno van der Merwe, emphasised the impact the platform will have on the broader West African market.

    “Every hour lost to poor logistics is a cost to businesses. This facility was built to eliminate those inefficiencies by providing a reliable, centralised, systems-driven logistics engine for Nigeria and the region,” he said.

    In his goodwill message, Lagos State Governor Mr. Babajide Sanwo-Olu, reaffirmed the State’s commitment to enabling private-sector-led industrial growth, noting that the Lekki axis is becoming Africa’s new manufacturing and logistics powerhouse.

    Highpoints of the launch event included a facility tour, unveiling of the park’s digital operations suite, and a demonstration of its end-to-end contract logistics capabilities.

    With client onboarding already in progress, TY Logistics Park FZE is set to commence full commercial operations.

    Present at the commissioning were General Danjuma’s wife, Senator Daisy Danjuma, Taraba State Governor Dr. Agbu Kefas (represented), Chairman of Lekki Worldwide International Limited, Mr. Biodun Dabiri, traditional rulers, and captains of industry.

  • Akume, Oyetola launch Shippers’ Council’s enterprise system

    Akume, Oyetola launch Shippers’ Council’s enterprise system

    The Secretary to the Government of the Federation (SGF), Senator George Akume, and the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola yesterday, unveiled the Nigerian Shippers’ Council’s Enterprise Content Management System (ECMS) in Abuja, marking a significant leap in the Federal Government’s drive toward digital governance and greater efficiency in the maritime and blue economy sector.

    The launch, attended by key government officials including the Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, underscored the administration’s determination to modernise public service operations and strengthen Nigeria’s competitiveness in global trade.

    In his remarks, the SGF congratulated the Minister for his leadership that helped secure Nigeria’s recent election into Category C of the International Maritime Organization (IMO) Council, describing the achievement as an affirmation of the country’s rising global maritime standing.

    He also commended Dr Oyetola for providing strategic leadership in the marine and blue economy sector, emphasising that such direction was instrumental in the successful rollout of the ECMS by the nation’s port economic regulator.

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    Senator Akume noted that the system would enhance the efficiency of government processes, reduce bureaucratic delays, and support the broader objectives of transparency, accountability, and digital transformation across the public service.

    In his address, Dr Oyetola described the event as an important milestone in Nigeria’s journey toward a modern and technology-driven maritime administration. He noted that digital transformation is central to the Ministry’s strategy to reposition Nigeria as a competitive and efficient maritime nation, fully aligned with the demands of a fast-evolving global trade environment. According to him, the theme, “Driving the Maritime and Blue Economy Sector through Digital Innovation,” reflects the necessity of embracing new technologies that enhance speed, precision, and institutional performance.

    Dr Oyetola explained that while the ECMS is an internal workflow and records management tool, its impact will extend far beyond administrative routines by improving service delivery, reducing delays, and enhancing the Council’s capacity to deliver predictable and transparent regulatory interventions. He highlighted that automated workflows, secure approvals, real-time task tracking, and centralised information management would drastically reduce turnaround times, improve port performance, and strengthen Nigeria’s competitiveness in both regional and global markets.

    He also pointed to broader reforms implemented across the maritime sector, including the clearance of the longstanding Apapa gridlock, the Federal Government’s approval of a comprehensive port modernisation programme, and the establishment of Inland Dry Ports across all geopolitical zones to stimulate trade and deepen national economic inclusion.

    Delivering the keynote address, the Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, reiterated the Federal Government’s commitment to a fully digital and paperless administrative structure by the end of 2025. She praised the Nigerian Shippers’ Council for being among the agencies leading by example and aligning themselves with the Presidential directive on digital records management. She described the ECMS as a strong demonstration of institutional readiness for the future of governance, one where automation and streamlined processes replace manual handling and paper-based operations.

    Welcoming guests earlier, the Executive Secretary and CEO of the Nigerian Shippers’ Council, Dr Akutah Ukeyima, described the ECMS as a transformative tool and a core pillar of the Council’s digitalisation agenda. He noted that the system was designed to eliminate delays, manual file movement, and administrative bottlenecks that have hindered public institutions for years.

    He added that by strengthening internal accountability, speed, and information security, the ECMS would ultimately enhance the Council’s regulatory effectiveness within the maritime and blue economy sector. He emphasised that the launch was a direct response to the Federal Government’s digital mandate, expressing pride that the Council was among the early adopters demonstrating that the transition to full digital operations is both achievable and essential.

    Akutah expressed appreciation to the Minister, the SGF, the Head of the Civil Service, stakeholders, and the Council’s internal teams for their support and contribution to the successful rollout of the project. He urged staff to fully embrace the platform, describing it as their new operational environment and a vital instrument for sustaining a modern, paperless, and efficient regulatory institution.

    The launch was attended by top government officials, representatives of the organised private sectors as well as stakeholders from the maritime sector.

  • T2 is partner of Carnival Calabar

    T2 is partner of Carnival Calabar

    T2 has announced a strategic collaboration with Carnival Calabar as the Digital Technology partner, debuting its new customer-focused mobile app, MyT2. This rollout of the app as the official digital companion for Carnival Calabar underscores T2’s ambition to become Nigeria’s most trusted digital lifestyle partner for young people, families, creators, digital-first users, and businesses.

    According to T2 CEO, Obafemi Banigbe, the introduction of MyT2 marks a shift toward deeper customer-centric innovation, reflecting the realities of how Nigerians now live and connect.

    He noted that people want more than basic connectivity; they want technology that simplifies everyday tasks, strengthens relationships and supports both work and leisure. MyT2, he said, was designed to bring these moments together in a single, intuitive space.

    As the app makes its festival debut, Carnival Calabar attendees will enjoy a richer and more organized experience through Festive Mode, a feature built specifically for major cultural celebrations. Festival-goers will have access to real-time schedules, ticket information, curated experiences and vendor listings, enabling them to navigate events more easily and stay connected to the excitement, whether on the ground or following remotely. This marks the first time the festival will be supported by a unified digital guide.

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    Beyond the festival, MyT2 offers a suite of everyday benefits for all T2 customers and festival participants. Users can buy, borrow or share airtime and data; manage their spending and communications in one place; and create or join T2 Hives, where families, student groups, work teams or friends can pool and monitor shared resources. The app also integrates the 9SB Wallet, allowing users to send and receive money securely and pay for T2 services, with additional financial features set to roll out as the ecosystem expands. Subscribers can also reserve personalized phone numbers, book appointments for SIM registration or SIM swap to avoid queues, and manage their communication preferences through an enhanced Do Not Disturb (DND) tool.

    Banigbe noted that partnering with Carnival Calabar reflects T2’s broader mission of using technology to strengthen cultural expression and community engagement. By serving as the festival’s digital technology partner, T2 aims to ensure a seamless, accessible and engaging experience for millions of Nigerians and global followers.

    The debut of MyT2 at Carnival Calabar represents a milestone in T2’s transformation following its transition from 9mobile, with more lifestyle-driven innovations expected as the brand expands its digital-first strategy.