Government officials toured a massive sugar factory being built by BUA Foods in Kwara State. The Minister of State for Industry, John Owan Enoh, and the head of the Sugar Development Council, Kamar Bakrin, inspected the Lafiagi facility. BUA's chairman, Abdul Samad Rabiu, is backing the project, which is reportedly eighty percent finished.
The plant aims to process ten thousand tons of sugarcane daily. It is designed to produce a large amount of refined sugar, generate electricity, and make industrial ethanol every year. The group also visited the local Emir, Mohammed Kudu Kawu, where BUA's director Kabiru Rabiu promised this would be Nigeria's biggest integrated sugar operation.
Minister Enoh acknowledged solid progress on the...
A House committee ordered the Central Bank to finish reconciling its books with finance officials. The Public Accounts Committee chairman, Bamidele Salam, set a deadline of January 19th. This follows a House resolution that summoned the CBN governor after he missed several invitations.
The probe centers on claims that the bank failed to send over 5.2 trillion naira in government revenue to the proper account across several years. Other discrepancies involve hundreds of millions in unremitted VAT and transition funds. The Finance Minister, Wale Edun, called the reconciliation critical for national credibility and budgeting. A representative from the Fiscal Responsibility Commission admitted their past dealings with the CBN were...
The Central Bank governor made a play for foreign money, telling investors Nigeria is a serious place for business. Olayemi Cardoso spoke at a roundtable in Washington, D.C., hosted by the U.S. Chamber of Commerce. He argued the country is sticking to strict economic rules and clear policies.
He pointed to recent changes in how Nigeria handles its currency and banking regulations. Cardoso said these moves create transparency and reduce risk. He also highlighted a modernized national payments system as key to growth. A chamber president, Kendra Gaither, agreed investors now want markets with discipline, suggesting Nigeria's message is cutting through. The forum focused on sectors like energy, tech, and agriculture.
The National Pension Commission paid out over 577 billion naira to retirees and contributors. Their director general, Omolola Oloworaran, announced this at a summit, crediting a 758 billion naira federal government bailout for old pension debts. That money, raised from bonds, covered things like owed increases and accrued rights.
About 362 billion from that fund went to 194,000 retirees, with a notable chunk, 132 billion, paid to the Nigeria Police personnel. Another 107 billion was sent directly to individual savings accounts to cover missing government contributions from five years. Oloworaran said these payments, reaching over a million accounts, provide real-life relief. She also mentioned starting a minimum pension guarantee for...
Schneider Electric says it's still pushing the UN's development goals in Nigeria, focusing on education and jobs. Their country president for West Africa, Ajibola Akindele, said this while opening a new testing center at the Federal Polytechnic of Oil and Gas on Bonny Island in Rivers State. The facility is meant to save students from a rough commute to take exams.
A local community leader, Se Alabo Abel Adafe Attoni, thanked the company, explaining that the trip to Port Harcourt used to cost a lot and had safety risks. The center fixes that. A marketing manager for the region, Omobolanle Omotayo, said it removes a major roadblock for students trying to advance their education.
The acting rector of the polytechnic, Dr. Akos Noel...
Experts at an estate surveyors' conference in Lagos said public-private partnerships need ethics above all else to work. The event was run by the Nigerian Institution of Estate Surveyors and Valuers. A speaker named Dr. Samson Agbator argued that these projects fail without transparent procurement, becoming liabilities instead of assets.
He stated that infrastructure spending is set to dominate national goals. New laws and big loans, like a Senate-approved $22 billion package, will drive this. He told surveyors and valuers that they are essential for setting valuation standards and doing feasibility studies that attract investors. With a nearly nine-hundred-billion-dollar infrastructure deficit predicted, he called this their moment to...
Two guys launched a mobile app to fight real estate fraud in Nigeria. The app is called Ist Choice Property, made by Taiwo Joel Oladapo and Gbenga Agbana. They introduced it at an event in Lagos. This is apparently the first tool of its kind in Nigeria and West Africa.
The CEO, Oladapo, said Nigerians get scammed out of more than one hundred billion naira every year through fake property deals. He called the sector high risk because of these fraudsters. The app is supposed to let users check a property's legal status before buying. It flags stuff like land disputes or assets seized by anti-graft agencies.
Oladapo pointed out a major housing shortage, with less than ten percent of Nigerians owning their homes. He mentioned that...
A businessman named Niyi John Olajide told African leaders they need to fix their economic policies. He leads Cavista Holdings and the Corporate Council on Africa. He spoke at a big ceremony hosted by the Ooni of Ife, where Ghana's President John Mahama got a chieftaincy title. Other heavy hitters like Aliko Dangote and former President Mokgweetsi Masisi of Botswana were there.
Olajide called the continent's current situation a waste. He pointed out that Africa's huge population and total economic output are held back by bad rules and red tape between countries. He said Nigeria's fortunes are tied to Ghana's success, using their relationship as a model. He praised business figures like Dangote for already operating across borders.
His...
An online school called the Open Institute of Technology, or OPIT, is trying to cash in on Africa's need for tech skills. They are a fully accredited European Union institution. Their big sell is a flexible Bachelor's degree in Computer Science starting next January. They are aiming at professionals in Africa who work in areas like banking, telecom, and government.
The program covers standard techie stuff like AI, cybersecurity, and data science. Their teachers have backgrounds at places like Amazon and Microsoft. About twenty percent of their international students already come from African nations, including Nigeria, Kenya, and South Africa. Those students say they like being able to study without quitting their jobs.
OPIT's whole...
