Moniepoint acquires Orda, expanding into Africa’s $50bn food service industry

Africa’s food economy is vast, vibrant, and central to daily life. Across Nigeria’s cities and towns, restaurants, cafés, bukas, and roadside kitchens feed millions while driving one of the continent’s most active sectors. Increasingly, Nigerian technology companies are stepping in to modernise this ecosystem, building tools that help small businesses operate more efficiently and access financial services.

In a move that reflects this shift, Nigerian fintech company Moniepoint Inc. has acquired restaurant management startup Orda Africa, positioning itself to expand into Africa’s fast-growing $50 billion food service industry.

The acquisition will integrate Orda’s cloud-based restaurant software into Moniepoint’s business management platform, Moniebook, allowing restaurants and food vendors to manage orders, payments, inventory, and accounting from a single system. For businesses that still rely on manual records or disconnected tools, the integration promises a more efficient way to manage daily operations.

The deal also highlights a broader evolution within Africa’s fintech sector. Companies once focused solely on payments are increasingly building platforms that support the full operational needs of small businesses, combining transactions, management tools, and access to credit.

For Tosin Eniolorunda, Moniepoint’s co-founder and group chief executive officer, the food sector represents one of the continent’s most active yet underserved industries.

“The food industry is a major source of jobs and daily survival for many Africans,” Eniolorunda said, noting that many businesses still operate with manual systems and fragmented processes.

Restaurants are particularly attractive to fintech firms because they generate high-frequency transactions, rely on steady supply chains, and often require working capital to sustain daily operations.

The sector itself is expanding quickly as urban populations grow and dining habits evolve, Africa’s restaurant industry continues to scale. Nigeria alone is projected to see its restaurant market reach about $19.3 billion by 2030, growing at an annual rate of more than 11 percent.

Founded in 2020, Orda Africa built software specifically for small and independent restaurants, many of which previously operated without digital infrastructure. Its platform helps businesses track orders, manage kitchen workflows, and monitor stock levels, replacing manual systems with organised digital processes.

According to Guy Futi, Orda’s chief executive officer, the partnership with Moniepoint allows the company to combine operational expertise with financial infrastructure.

“To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure,” Futi said, adding that customers will continue using the platform while gaining access to expanded services.

The acquisition also reflects Moniepoint’s rapid rise within Nigeria’s fintech ecosystem. Founded in 2015 by Eniolorunda and Felix Ike, the company says it now serves more than 20 million businesses and individuals and processes over $250 billion in digital payment transactions annually. It has also become one of Nigeria’s largest merchant acquirers, powering a significant share of point-of-sale transactions nationwide.

By integrating Orda’s technology, Moniepoint will gain deeper insight into restaurant operations , including sales patterns, peak demand periods, and inventory cycles. Analysts say such data could support sector-specific lending, helping restaurants access financing based on real operational records.

The deal may also intensify competition in Africa’s growing food-tech ecosystem, where startups are developing solutions for restaurant management, delivery services, and supply chains. Yet much of the continent’s independent food sector still operates offline, highlighting the scale of opportunity that remains.

For Moniepoint, the acquisition forms part of a broader strategy: building a comprehensive financial ecosystem around African small businesses, rather than focusing only on payments.

For millions of food entrepreneurs across Nigeria and the wider continent, from neighbourhood kitchens to established restaurant operators, the convergence of technology and finance could unlock new tools and funding needed to power the next phase of growth in Africa’s food economy.

CBN Wins Global “Central Bank of the Year” Award for Reforms

The Central Bank of Nigeria has received global recognition for a reform programme that has reshaped the country’s monetary landscape, earning the apex bank the “Central Bank of the Year” title at the 2026 Central Banking Awards.

The honour reflects a sweeping set of policy and institutional changes introduced over the past two years to stabilise Nigeria’s financial system and rebuild confidence among investors and businesses. According to the awards committee, the recognition acknowledges a decisive return to orthodox monetary policy, improved governance, and reforms that have strengthened market stability.

The award comes after a period when Nigeria’s economy was under significant pressure. By 2023, inflation had climbed to 22.4 per cent, foreign exchange liquidity had deteriorated, and the country faced about $7bn in unmet foreign exchange obligations. At the same time, the difference between the official and parallel market exchange rates widened to over 60 per cent, reflecting deep distortions within the currency market.

The broader economic context further underscored the urgency of reform. Nigeria, which held the position of Africa’s largest economy in 2014, had fallen to fourth place behind South Africa, Egypt, and Algeria. The combination of monetary financing and subsidy-related interventions had pushed economic management into what the awards committee described as an unsustainable position.

One former senior central bank official, quoted in the committee’s statement, recalled that the situation had become so concerning that analysts feared Nigeria might be drifting toward the economic turmoil experienced in Venezuela and Zimbabwe, as worries intensified over fiscal instability, currency depreciation, and weakening institutional independence.

A shift began in October 2023 when Olayemi Cardoso assumed office as Governor of the Central Bank of Nigeria. His administration quickly introduced wide-ranging reforms aimed at restoring credibility to the institution and strengthening macroeconomic stability.

Central to the reform programme was a commitment to end quasi-fiscal interventions, reinforce institutional independence, and restore discipline to monetary policy. Clearing the country’s foreign exchange backlog and improving transparency within the financial system were also identified as immediate priorities.

One of the most visible changes came in the restructuring of Nigeria’s foreign exchange market. For years, multiple exchange-rate windows had created inefficiencies and uncertainty for investors and businesses. The CBN replaced this fragmented structure with a unified, market-driven system operating on a willing-buyer, willing-seller framework, supported by an electronic FX matching platform designed to enhance transparency and improve price discovery.

The impact of the reforms became evident in the behaviour of the naira. According to Cardoso, the currency now trades within a much narrower and more stable band, while the gap between official and parallel market rates has reduced dramatically to under 2 per cent, compared with over 60 per cent before the reforms.

Another major step involved clearing outstanding foreign exchange commitments owed to key sectors such as aviation and manufacturing, a move that helped restore liquidity and ease long-standing concerns within the business community.

As liquidity improved, Nigeria’s external buffers strengthened. The country’s gross external reserves rose to $46.7bn by November 2025, representing the highest level recorded in nearly seven years and providing more than 10 months of import cover. The improvement was supported by stronger capital inflows and increased non-oil exports, which helped reinforce stability within the foreign exchange market.

In its July 2025 Article IV assessment, the International Monetary Fund commended the reforms, noting that they had strengthened confidence in Nigeria’s markets and improved liquidity conditions within the foreign exchange system.

At the same time, the CBN pursued an aggressive strategy to rein in inflation where Interest rates were raised from 18.75 per cent in 2023 to 27.5 per cent by November 2024, marking one of the most assertive tightening cycles in the bank’s recent history.

Although inflation initially rose to 34.80 per cent in December 2024, largely due to subsidy removal and currency liberalisation, the tightening measures gradually began to take effect.

By January 2026, inflation had declined significantly to 15.10 per cent, while food inflation moderated to 8.9 per cent, reflecting improved price stability across the economy.

With inflation easing, the central bank cautiously adjusted its stance, lowering the benchmark interest rate to 26.5 per cent in February 2026. Even so, Cardoso has stressed that the bank remains committed to bringing inflation down further, emphasising that double-digit inflation cannot be acceptable in the long term. The CBN is now working toward a more structured inflation-targeting framework, supported by stronger data systems and clearer policy communication.

Beyond monetary policy, reforms also targeted the resilience of the banking sector. In 2024, the central bank introduced a recapitalisation programme requiring banks to meet higher capital thresholds designed to strengthen the financial system.

Since then, more than 33 banks have raised fresh capital, while at least 30 institutions have already met the new requirements ahead of the March 31, 2026 deadline. Institutions that fail to comply may face licence downgrades, acquisitions, or liquidation.

Supervisory oversight has also been strengthened through the transition toward Basel III standards, which aim to improve risk management and liquidity monitoring within the banking industry.

Financial inclusion has also expanded during the reform period. Microfinance lending grew by more than 14 per cent, while digital credit products reached over 1.2 million small businesses in 2025, widening access to finance for entrepreneurs and small enterprises across the country.

The digital payments ecosystem has grown rapidly as well. The CBN introduced measures to improve cash management systems, increase ATM efficiency, and enhance supervision of payment agents nationwide. Currently, more than 12 million contactless cards are in circulation, while about 40 fintech companies operate within the CBN’s regulatory sandbox, where new financial technologies are tested under regulatory oversight.

Governance reforms have also played a critical role in restoring international confidence. The central bank established a dedicated compliance department and strengthened anti-money laundering controls, efforts that contributed to Nigeria’s removal from the Financial Action Task Force grey list in 2025.

The policy improvements have been reflected in global credit ratings. Fitch upgraded Nigeria’s rating from B- to B with a stable outlook in April 2025, while Moody’s raised its rating from Caa1 to B3 in May, citing stronger economic fundamentals and improved policy credibility.

Investor confidence was further demonstrated when Nigeria returned to the international capital market in 2025, issuing a $2.35bn Eurobond that was oversubscribed more than five times, highlighting renewed global interest in the country’s debt.

Despite the progress, the awards committee cautioned that the reform process is still ongoing. Sustaining disinflation, completing the banking sector recapitalisation programme, and strengthening institutional frameworks remain critical tasks.

Nevertheless, the committee concluded that the transformation achieved by the central bank has been significant. As one former official observed, “What the CBN has achieved is nothing short of remarkable.”

For Nigeria, the recognition marks an important moment in the country’s economic journey, signalling that determined reforms can begin to restore stability, rebuild confidence, and reshape the trajectory of one of Africa’s most influential economies.

Damilola Ogunbiyi Becomes First Nigerian Named to TIME Earth Awards

At a time when the search for credible climate leadership is intensifying, a Nigerian has been recognised among the figures shaping the world’s energy future. Damilola Ogunbiyi, Chief Executive Officer of Sustainable Energy for All (SEforALL) and Special Representative of the United Nations Secretary-General for Sustainable Energy for All, has been named to the 2026 TIME Earth Awards, becoming the first Nigerian to appear on the influential list.

Now in its fourth year, the TIME Earth Awards recognise individuals whose work is making measurable contributions to tackling climate change and advancing sustainable energy systems. Ogunbiyi was selected as one of six global leaders honoured for driving progress toward a cleaner and more inclusive energy future.

Her work focuses on one of the world’s most pressing challenges: expanding access to electricity while reducing carbon emissions. Across many developing regions, millions still live without reliable power, forcing countries to balance development needs with environmental responsibility. Ogunbiyi has consistently argued that these goals can advance together, with clean energy serving not only as a climate solution but also as a driver of economic opportunity.

Through her leadership at Sustainable Energy for All, she has helped coordinate international partnerships aimed at accelerating energy transitions, particularly across the Global South. The organisation now works with more than 200 partners and supports over 100 countries in developing strategies to expand electricity access while reducing emissions. These efforts have helped mobilise over $1.6 trillion in energy finance commitments, reflecting growing global momentum behind sustainable power systems.

Responding to the recognition, Ogunbiyi emphasised that the energy transition must remain centred on people and communities whose lives are transformed by reliable electricity. She pointed to progress already underway across the Global South, including Pakistan’s rapid solar expansion to 33 gigawatts and Kenya generating more than 90 percent of its electricity from clean energy. Nigeria, she noted, is also witnessing the expansion of one of the world’s largest distributed renewable energy programmes, improving livelihoods while broadening access to power.

Before stepping onto the global stage, Ogunbiyi built her reputation within Nigeria’s power sector. As Managing Director of the Rural Electrification Agency, she led the $550 million Nigerian Electrification Project, an initiative designed to deliver electricity to underserved communities through decentralised and renewable energy solutions.

The programme has since provided electricity access to more than eight million Nigerians and supported the deployment of over 100 megawatts of decentralised energy projects, supplying power to hospitals, schools and government facilities across the country. By prioritising solar mini-grids and off-grid technologies, the initiative demonstrated how innovative energy solutions could accelerate electrification in communities long beyond the reach of traditional infrastructure.

Ogunbiyi’s inclusion in the TIME Earth Awards adds to a growing list of international recognitions she has received in recent years. Beyond the honour itself, it reflects the rising influence of leaders from the Global South in shaping the global climate and energy agenda.

For Nigeria, the recognition carries deep significance especially as the world navigates the complex transition toward cleaner energy systems and Ogunbiyi’s work underscores a simple truth: Nigerian expertise is not only participating in global solutions but helping to lead them. 

Historic Night for Lookman in Thrilling Madrid Derby

Across Europe’s biggest football stages, Nigerian talent continues to leave its mark and on Sunday night, the spotlight turned to Madrid. Ademola Lookman delivered a historic moment in the fiercely contested Madrid derby, becoming the first Nigerian to score in the fixture during Atlético Madrid’s dramatic 3–2 clash with Real Madrid at the Santiago Bernabéu.

The Nigerian forward opened the scoring in the 33rd minute, finishing a beautifully constructed Atlético move. Johnny Cardoso and Matteo Ruggeri helped initiate the attack before Giuliano Simeone produced a clever backheel that released Lookman inside the box. From close range, the forward kept his composure and slotted the ball home to give Atlético the lead.

Beyond the early advantage, the strike carried historic weight. Lookman became the first Nigerian ever to score in the Madrid derby, while also becoming the eighth Atlético player in the 21st century to score on his La Liga derby debut.

For followers of Nigerian football, the moment reflected a broader story, the steady rise of Nigerian players across Europe’s top leagues. Lookman’s growing presence in Spanish football continues to reinforce that narrative.

However, the derby soon shifted after the restart. Vinícius Júnior brought Real Madrid level in the 52nd minute, calmly converting a penalty to ignite the Bernabéu. Momentum quickly swung in Madrid’s favour, and just three minutes later, Federico Valverde fired the hosts into the lead.

Atlético responded with resilience. In the 66th minute, Nahuel Molina produced a superb strike to restore parity and keep the contest finely balanced but the drama was not over as Vinícius Júnior struck again in the 72nd minute, restoring Real Madrid’s advantage with what ultimately proved to be the decisive goal.

Despite the defeat, Atlético manager Diego Simeone praised Lookman’s continued development and impact.

“He’s been improving, working very hard, offering us different options in attack, and that’s exactly what we need from him. We also need him to help us improve defensively, because he has what it takes. With a huge heart and a willingness to learn and try to improve, he’s brilliant, and hopefully he’ll continue to deliver important moments for us, just as he did today,” Simeone said.

For Lookman, the goal marked his second in 12 league appearances in his debut La Liga season, another step forward in his adaptation to Spanish football.

Atlético may have left the Bernabéu without the points, but the night still produced a milestone. 

On one of football’s grandest stages, a Nigerian forward wrote his name into the history of the Madrid derby, another reminder of Nigeria’s growing imprint on the global game.

A New Energy Chapter: Dangote Refinery Begins Fuel Exports Across Africa

For decades, Africa’s energy story carried a striking contradiction: a continent rich in crude oil yet heavily dependent on imported refined fuel. Tankers routinely travelled thousands of miles from foreign refineries to African ports, reinforcing a cycle where raw resources left the continent only to return as finished products. That pattern is beginning to change and Nigeria is emerging at the centre of the shift.

The Dangote Petroleum Refinery has now exported 456,000 tonnes of refined petroleum products to African markets through 12 cargoes lifted by international trading firms. The shipments consisted mainly of Premium Motor Spirit (PMS) and were delivered to Cameroon, Côte d’Ivoire, Ghana, Tanzania and Togo.

Industry sources say the cargoes were sold on a Free on Board (FOB) basis, meaning international traders purchased the products at the refinery and handled delivery to the destination markets.

The exports follow a major operational milestone for the refinery. In February, the Dangote refinery reached its full designed capacity of 650,000 barrels of crude oil per day (bpd), becoming the first refinery globally to achieve full nameplate capacity in a single train of that scale.

According to the refinery, the achievement followed the optimisation of its Crude Distillation Unit (CDU) and improvements in the Motor Spirit (MS) production block, helping stabilise production at Africa’s largest oil refining facility.

Beyond the engineering achievement, the development marks a turning point in Nigeria’s energy story. For decades, the country paradoxically relied on imported fuel despite being one of the world’s major crude oil producers. The refinery’s export activity now signals Nigeria’s gradual shift from a major fuel importer to a growing regional supplier.

The facility is also producing Euro 5 standard gasoline and diesel, offering higher-quality fuels than many of the products historically shipped into parts of Africa. This is particularly significant for West Africa, a region long criticised as a destination for substandard fuel imports.

Demand for alternative fuel supply within the continent is also rising as reports indicate the Dangote refinery has seen increasing inquiries from African countries seeking fuel supplies following disruptions caused by the Iran war and several governments are exploring new supply options as geopolitical tensions threaten traditional fuel supply routes.

Energy stakeholders say the growing interest reflects concerns about fuel availability rather than pricing, as governments prioritise energy security and seek to diversify supply sources.

Currently, about 75% of refined fuel imports into East and Southern Africa originate from the Middle East, according to energy consultancy CITAC, a dependency that leaves many countries exposed to external disruptions.

Despite growing exports, around 75% of the refinery’s output is reserved for Nigeria, while the remaining capacity is available for international markets. Discussions are already underway to expand those export relationships, with sources indicating that South Africa is seeking a 12-month standard fuel supply contract with Nigeria.

Beyond trade volumes, regional supply could significantly reduce logistics costs, shorten delivery times, and ease the delays associated with long-distance imports. In the process, it could strengthen energy security across West, East, and Central Africa while easing pressure on fuel pricing in regional markets.

What is unfolding is more than the success of a single refinery as it signals the emergence of a new reality, one where Nigeria is not only producing crude oil but increasingly supplying refined energy to the continent.

A long-standing paradox is beginning to fade and Africa’s resources are gradually being refined closer to home, and Nigeria is playing a defining role in that transition.

Nigeria Moves To Scrap Common Entrance Exams

Nigeria may be on the verge of a major change in its education system as the Federal Government considers scrapping the long-standing Junior Secondary School Common Entrance Examination and introducing a system to track every pupil throughout their academic journey.

The proposal was disclosed by the Minister of Education, Tunji Alausa, during an interactive session with journalists in Lagos on Saturday. At its core, the reform seeks to strengthen how pupils are monitored as they progress through Nigeria’s education system, ensuring that more children are properly accounted for as they move from primary school into the next stage of learning.

For decades, the common entrance examination has served as the gateway between primary and junior secondary school. Under the proposed changes, however, the single high-stakes exam would be phased out and replaced with Continuous Assessment (CA), which evaluates pupils based on their academic performance over time rather than a one-off examination.

According to the minister, the assessment will capture pupils’ academic progress from Primary One, creating a record that follows them wherever they go. If a pupil transfers to another school, the academic record will move with them.

“The CA will reflect the performance of the pupil from primary one and even if a pupil is transferring from one school to another, he will take it along to his new school,” Alausa explained.

Beyond changes to assessment, the reform is also designed to strengthen how Nigeria tracks pupils as they progress through the education system. While enrolment at the primary school level remains high, the government believes better monitoring will help ensure that more pupils transition smoothly into secondary education.

Officials say improving access to secondary education will also play an important role in strengthening this transition. In many communities across the country, expanding school infrastructure will help ensure that pupils who complete primary education are able to continue their academic journey.

The minister disclosed that discussions have already taken place with the Nigerian Governors’ Forum, with a focus on encouraging state governments to build more schools capable of accommodating the growing number of pupils moving through the education system.

“State governments need to build more schools to accommodate more pupils and students,” he said.

Another key element of the reform is the introduction of a Learner Identification Number that will be assigned to pupils from the primary school level. The unique number will remain with each child throughout their schooling, regardless of where they begin their education or whether they later transfer to another school.

The system is expected to give education authorities a clearer picture of pupils’ progress while making it easier to follow their academic journey across different schools and stages of learning.

“If somebody is expected to be in JSS class one and he is not there, we will be able to know the reason why he is not continuing his education,” the minister explained.

Alongside these measures, the government is also considering reviving the school feeding programme, which previously helped strengthen enrolment in public schools. The initiative may be moved to the Federal Ministry of Education to improve monitoring and ensure more effective implementation.

Taken together, the proposed reforms reflect a broader effort to strengthen Nigeria’s education system, improving access, enhancing how pupils are monitored throughout their schooling, and ensuring that more children are able to progress confidently from primary school into secondary education.

Diaspora Surge Powers Lagos’ Detty December as Spending Climbs to N396bn

 

Every year, as the calendar edges toward December, Lagos prepares for a familiar transformation as flights begin to fill with returning Nigerians, Afrobeats playlists dominate global charts, and social media feeds fill with countdowns to the city’s most anticipated season. What began as a festive homecoming has grown into one of Africa’s most significant cultural and economic movements: Detty December.

The scale of that movement was fully visible during the 2025 season, when diaspora visitors and local revellers together generated N396.54 billion in consumer spending across Lagos. The figures come from a report by MO Africa Co titled The Economics of Euphoria: Lagos’ Detty December 2025, which highlights how the annual celebration has evolved into a major driver of tourism, hospitality, and entertainment in Nigeria’s commercial capital.

One of the report’s most notable findings is a shift in where many of the visitors are coming from. For the first time since the phenomenon began gaining international recognition, the United States overtook the United Kingdom as the leading source of international arrivals. Travellers departing from the U.S. accounted for 27 percent of all arrivals, pushing the UK into second place. Researchers describe this as the most significant travel shift recorded during the 2025 festivities.

The development reflects the growing influence of the Nigerian-American diaspora, estimated at over 700,000 people in the United States. Cities such as Houston and Atlanta, home to large Nigerian communities, emerged as key departure points for travellers making the journey back to Lagos. 

According to the report, the viral success of earlier Detty December celebrations also played a major role in drawing new visitors. Images of packed concerts, beach festivals, and celebrity gatherings circulating on platforms such as Instagram, TikTok, and YouTube created a powerful “FOMO” (Fear of Missing Out) effect, particularly among younger members of the diaspora.

Beyond the United States and the United Kingdom, participation came from across the world. Europe accounted for 12 percent of arrivals, Canada contributed 11 percent, while African countries made up 10 percent. Visitors from Asia, the Middle East, and other regions represented the remaining 9 percent, underscoring how Lagos’ festive season is steadily gaining global reach.

Between mid-November 2025 and January 10, 2026, the city hosted an estimated 3.6 million participants across concerts, nightlife events, beach gatherings, fashion activations, and cultural festivals during the 55-day celebration window.

Much of the energy came from younger travellers like the Gen Z and Millennial visitors, accounting for more than 70 percent of attendees, reflecting the role of digital culture, influencer travel trends, and the global rise of Afrobeats in shaping the modern diaspora homecoming.

Diaspora visitors were also the biggest spenders as the report shows that 55 percent of all consumer spending during the season came from travellers arriving from abroad.

The largest share of that spending went to hospitality and accommodation, which absorbed N175.40 billion, representing 44.23 percent of total expenditure. Hotels, luxury apartments, and short-let properties across Lagos operated at near capacity throughout the festive period.

Entertainment and nightlife followed closely, generating N129.55 billion, or 32.67 percent of spending, as large concerts, club nights, and beach parties drew crowds from across the world.

Meanwhile, food and dining accounted for 12.91 percent, while fashion, retail, and wellness services captured the remaining share, a reflection of how Lagos’ December season blends music, lifestyle, and commerce.

Even before arriving in Nigeria, visitors were already injecting money into the global travel system as diaspora travellers collectively spent an estimated $384.5 million on air travel, illustrating the scale of international movement tied to the celebrations.

Within Lagos itself, economic activity concentrated heavily around the city’s upscale districts. Victoria Island, Ikoyi, and Lekki hosted many of the high-value transactions linked to luxury hotels, premium restaurants, and major entertainment events.

At the same time, mainland districts recorded some of the highest foot traffic, as concerts, street festivals, and community gatherings spread across different parts of the city.

Yet the surge also exposed the strain placed on Lagos’ infrastructure. During the peak of the festivities, the city was estimated to be operating at about 238 percent of its designed human capacity, intensifying traffic congestion, increasing waste generation, and placing pressure on urban transport systems.

Behind the scenes, staging the season required extensive logistical coordination. The report estimates that N19 billion was spent on logistics, security, and operational support, adding another layer of economic activity beyond direct consumer spending.

The momentum behind Detty December did not appear overnight as data from the Lagos State Ministry of Tourism, Arts, and Culture shows that the 2024 edition generated $71.6 million across hospitality, tourism, and entertainment sectors. Hotels accounted for $44 million, while short-let apartments contributed $13 million, driven by strong demand from domestic and international visitors seeking accommodation during the festive rush.

Those gains helped lay the foundation for the larger participation and spending recorded in 2025.

Today, Detty December is far more than a festive catchphrase as it has become a special convergence of diaspora identity, global music culture, tourism, and Nigerian creativity.

Nigeria Advances Talks on $20bn Gas Pipeline to Europe

Nigeria is moving with renewed momentum to unlock one of its most significant economic assets - natural gas. Fresh high-level discussions in London, United Kingdom, have placed the spotlight on an ambitious $20bn transcontinental gas pipeline that could connect Nigeria’s vast gas reserves directly to Europe.

If realised, the project would mark a major shift in how Nigerian energy reaches global markets especially as the proposed pipeline is designed to transport up to 30 billion cubic metres of gas annually, beginning from Nigeria’s southern gas reserves, passing through Chad and Libya, before extending subsea across the Mediterranean to Sicily, Italy, and ultimately feeding into the wider European energy grid.

At the centre of the latest engagement was Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who described the discussions as both timely and significant for the country’s energy future. For Nigeria, the project represents more than infrastructure, it is part of a broader effort to translate the country’s enormous gas potential into tangible economic value.

The Minister pointed to ongoing reforms in the petroleum sector as evidence that Nigeria is steadily building an environment capable of attracting global investment. The Petroleum Industry Act, alongside executive orders introduced to improve the investment climate within the energy sector, has helped position the country as a serious destination for large-scale gas development.

For Nigeria, the logic is clear: with some of the largest gas reserves in the world, the opportunity lies not merely in possession of the resource, but in how deliberately it is utilised.

“We must be intentional in the utilisation of our resources,” Ekpo noted, emphasising that the country must harness its reserves in ways that create economic opportunities and improve the lives of people across the region.

He also expressed optimism about the project’s viability, stressing that with the right financing structure in place, there is little standing in the way of its eventual realisation.

That confidence was echoed by Olalekan Ogunleye, Executive Vice President for Gas, Power and New Energies at NNPC Limited, who reaffirmed the national oil company’s readiness to support large-scale gas investments.

According to Ogunleye, NNPC’s Gas Master Plan and the country’s broader gas-led development strategy are specifically designed to expand opportunities across the gas value chain. The company, he said, is focused on creating viable investment pathways, removing operational bottlenecks, and partnering with credible investors capable of delivering complex energy projects. Simply put, Nigeria’s gas sector is open for business.

From the private sector side, Roger Tamraz, Founder and Chief Executive Officer of Netoil Inc., is leading efforts to advance the pipeline proposal. He described the initiative as both commercially sound and strategically important, particularly as Europe continues to diversify its energy sources and strengthen supply security.

Supporting voices within the project consortium also highlighted the broader impact such an initiative could deliver. Alain Bolo, Chief Executive Officer of Unicorn, noted that the development could significantly reduce gas flaring while strengthening Nigeria’s position as a reliable supplier in the global gas market.

Meanwhile, Henry Erimodafe, Project Director at Netoil, characterised the project as a “strategic win-win” , one capable of unlocking jobs, attracting significant investment, and delivering long-term value across multiple regions.

The pipeline remains at an early development stage, with a consortium of international industry players currently advancing the concept. Extensive technical, commercial, and regulatory processes still lie ahead before the project can move into full execution.

Yet the vision behind it is unmistakable as it is not merely about exporting gas but about translating natural advantage into strategic influence, positioning the country as a central player in the evolving global energy landscape while opening new corridors of opportunity for the future. 

Where Decisions Become Destiny: The Making of a First-Class Mind at FUTA

At Federal University of Technology Akure (FUTA), where ambition is constantly tested, Elizabeth Boluwatife Rotimi came to a simple but defining realisation, success is rarely accidental but chosen.

She graduated with a First Class in Computer Science, earning a CGPA of 4.52 in the 2024–2025 academic session but beyond the numbers lies a story shaped by discipline, self-awareness, and deliberate decisions.

“I saw university as a place of independence,” she reflects, “where people are free to make their own decisions and those decisions determine success or failure.” That belief guided her from the very beginning.

Her journey into technology started with curiosity as an early encounter with computers in secondary school sparked questions that gradually turned into purpose and by the time she arrived at FUTA, she wasn’t just exploring, she was intentional.

Still, the journey was not without its challenges and her toughest moment came in 300-level, when her academic performance dipped. “I cried a lot,” she admits. “But I had to reflect, pray, and change my approach.” Instead of retreating, she recalibrated, seeking advice, refining her study methods, and returning with renewed clarity.

The result was a strong comeback, including a GPA of 4.88 that earned her a place on the Dean’s List, clear evidence that setbacks can be reset points, not endpoints.

Academically, she found her strength in areas that demanded precision and deep thinking, fields grounded in logic, mathematics, and problem-solving. That same mindset carried into her final-year project, where she developed an AI-powered web application to monitor Lassa fever trends using social media and news data. In a country where delayed detection can have serious consequences, the relevance of such work is immediate and practical.

Beyond the classroom, her influence has been equally intentional. She has spoken at over 100 events, organised a major youth-focused gathering in Akure with over 1,000 attendees, and built Techies on LinkedIn, a platform that has connected thousands of young Nigerians to opportunities in the tech ecosystem.

Her focus now is clear: expanding access. “I’ve seen how talented young people struggle because they lack exposure or resources,” she says. “I want to build something that changes that.” Her goal is to create a centralised digital platform that opens doors to scholarships, internships, mentorship, and entry-level roles, bridging gaps that often limit potential.

On artificial intelligence, she offers a measured perspective: “AI should support human decision-making, not replace it.” In a rapidly evolving space, that clarity matters.

Looking ahead, she hopes to pursue advanced studies in Artificial Intelligence or core Computer Science in environments that will further sharpen her thinking and expand her impact.

At its core, her story is not complex, it is defined by consistency: choosing discipline when it would be easier not to, and meeting setbacks not with surrender, but with the resolve to adjust and move forward.

In many ways, her journey reflects a broader truth, which is, across Nigeria, there are young people making the right choices daily and steadily shaping outcomes that speak for themselves and in those choices lies the future.

Over Sabi Auntie hits ₦1bn, earning Toyin Abraham NFVCB’s Box Office Champion Award

In an industry long driven by bold personalities and even bolder ambitions, a new milestone has been etched into Nollywood’s evolving story, one that signals both creative independence and commercial strength.

On Thursday, the National Film and Video Censors Board (NFVCB) formally recognised actress and filmmaker Toyin Abraham with its Box Office Champion Award, celebrating the remarkable success of her film Over Sabi Auntie. The project has crossed the ₦1 billion mark in Nigerian cinemas, a feat that not only underscores its popularity but also places Abraham in a historic position as the first debut director to achieve such a benchmark.

For the NFVCB, the moment represented more than a personal win as its Executive Director, Shuaib Husseini, framed the achievement as a defining chapter for Nollywood itself, evidence of an industry gaining both confidence and economic weight. Addressing guests at the event, he noted that Abraham’s accomplishment reflects a broader momentum within Nigerian filmmaking, one capable of entertaining millions while inspiring others to think bigger about what is possible.

That sentiment was echoed by the Actors Guild of Nigeria speaking through Don Pedro, who represented its President, Sanusi Yakubu. The guild described the occasion as a turning point rather than a routine award presentation. Abraham, he said, has emerged as a creative force whose work is helping to shape not just narratives, but the financial trajectory of the industry and the performance of Over Sabi Auntie, he added, sends a clear message: Nigerian stories are not only resonating locally, they are commanding attention on a wider stage.

For Toyin Abraham, however, the journey to this moment was deeply personal. Taking the stage, she reflected on the decision that set everything in motion, choosing to step behind the camera herself. Frustrated with constantly working under others’ direction, she resolved to take full creative control. She recalled telling her manager of her intention to direct the film independently before seeking guidance from her industry mentor, Mrs Bolanle Austin-Peters, to bring the vision to life.

Her gratitude on the night was equally personal as she acknowledged the support of her husband, thanked the NFVCB for the honour, and paid tribute to the team that helped transform an idea into a box office triumph. For her, the success of Over Sabi Auntie is not just a statistic but a realisation of a long-held dream.

The event drew a cross-section of Nollywood stakeholders, including Olori Temitope Ogunwusi, further underscoring the cultural significance of the occasion.

Beyond the applause and accolades, Abraham’s milestone speaks to something larger: a Nollywood that is increasingly self-assured, commercially viable, and driven by creators willing to take risks on their own terms.

Nigeria rises as an education hub, attracting Coventry University to Lagos

A defining shift is taking shape in Nigeria’s education landscape, one that signals not dependence, but a clear evolution in how the country engages with global learning.

Coventry University’s decision to establish a campus in Alaro City, Lagos, is not a routine expansion but a clear acknowledgement of Nigeria’s growing intellectual weight. Global institutions do not commit to new territories lightly; they respond to talent, demand, and long-term potential and Nigeria offers all three.

For years, Nigerian students have distinguished themselves within the United Kingdom’s education system. According to data from the UK’s Office for National Statistics (ONS), people of Nigerian origin rank among the most highly educated groups in the country. Across disciplines such as medicine, engineering, law, and finance, Nigerians have built a reputation for academic excellence and consistency at the highest levels.

That global success, however, is only part of the picture as within Nigeria itself, a vast and active university system continues to lay the solid foundation and educate millions. Federal, state, and private institutions remain central to the country’s talent pipeline, producing professionals and innovators who drive sectors across the economy. While challenges exist, Nigeria’s universities have long demonstrated their capacity to deliver quality education and develop globally competitive graduates.

It is within this context, not outside of it, that the Coventry University partnership takes shape.

Under a Transnational Education (TNE) arrangement with the Federal Government, the proposed Lagos campus will offer Bachelor’s and Master’s degree programmes in key areas including Science, Technology, Engineering, Mathematics and Medicine (STEMM), Business, and Technical and Vocational Education and Training (TVET). Degrees obtained will be fully equivalent to those awarded in the United Kingdom, with admissions expected to begin between the third and fourth quarters of 2026, subject to regulatory approvals.

The value of this development lies in what it adds, not what it replaces. For families, it creates access to globally recognised education within Nigeria, significantly reducing the financial pressure associated with studying abroad. For students, it expands choice, offering international curriculum standards alongside existing local options and for the education sector, it introduces a new layer of collaboration and healthy competition that can drive improvement across institutions.

This move also aligns with a broader global shift as the United Kingdom is increasingly extending its education system beyond its borders, aiming to grow education exports to £40 billion annually by 2030 by establishing overseas campuses and partnerships. Nigeria, with its strong academic culture and proven student performance, has naturally emerged as a key destination for such initiatives.

The announcement itself comes amid high-level engagements during President Tinubu's visit to the United Kingdom, underscoring the strategic importance of education within Nigeria’s international partnerships.

Ultimately, the arrival of Coventry University in Alaro City is not about filling a gap in Nigeria’s capabilities but about recognising an existing strength and building on it.

Nigeria has consistently shown that its students can compete anywhere in the world. Therefore, what is now taking shape is a future where more of that excellence can be nurtured at home, within an expanding ecosystem that blends local depth with global reach.

Nigeria repositions correctional centres as thriving food production hubs

Nigeria is charting a more purposeful path for its correctional system, one that blends rehabilitation with productivity and real economic value.

At the heart of this shift is a plan by the Federal Government to transform correctional centres into food production hubs, while equipping inmates with practical skills for life after incarceration. The approach was highlighted in Abuja at a stakeholders’ roundtable on optimising correctional farm centres and strengthening public-private partnerships (PPPs) for inmate reformation. The event was organised by Hope Behind Bars Africa with support from the European Union (EU) and the Rule of Law and Anti-Corruption (RoLAC) programme.

Represented by the Permanent Secretary, Dr. Magdalene Ajani, the Minister of Interior, Dr. Olubunmi Tunji-Ojo, stressed that correctional facilities must move beyond confinement to focus on rehabilitation and reintegration. He noted that modern systems globally now prioritise preparing inmates to return to society as productive citizens, making collaboration between government, private sector, and civil society essential.

Agriculture is central to the strategy. With Nigeria’s strong farming potential, correctional farm centres are being repositioned as spaces where inmates learn modern agricultural practices, agro-processing, and value chain opportunities, skills that remain useful long after release. 

PPPs are expected to provide the funding, innovation, and technical expertise needed to upgrade infrastructure, expand training, and improve efficiency, while also extending opportunities into sectors like construction, ICT, and manufacturing.

The Controller-General of the Nigerian Correctional Service (NCoS), Sylvester Nwakuche, revealed that the Service currently operates 18 farm centres and 10 cottage industries across about 10,000 hectares nationwide. These facilities produce crops such as maize, rice, cassava, yam, soybeans, millet, and sorghum, alongside fishery, poultry, and piggery projects. While these activitqies already support inmate welfare and skills development, he noted that stronger private sector partnerships are needed to fully unlock their potential and align them with market realities.

Complementing government efforts, Hope Behind Bars Africa, led by Executive Director Funke Adeoye, is driving the Farming Justice Project in partnership with the NCoS and supported by RoLAC. The initiative is active in custodial centres including Kuje, Kirikiri Female, Dukpa, and Oko, where inmates engage in structured programmes covering behavioural change, financial literacy, and agricultural production such as pepper, okra, watermelon, maize, and fish farming.

Aligned with the Nigerian Correctional Service Act 2019, this growing collaboration reflects a clear direction, one where correctional centres are no longer seen as endpoints, but as platforms for rebuilding lives, strengthening food systems, and contributing to Nigeria’s broader development.

£746 Million Boost Set to Transform Nigeria’s Busiest Seaports

Nigeria is preparing for a major upgrade of its busiest seaports following a £746 million financing deal with the United Kingdom, a move that could reshape how trade flows in and out of the country.

The agreement, backed by UK Export Finance (UKEF), will focus on modernising the Lagos Port Complex in Apapa and the Tin Can Island Port Complex, two facilities that handle more than 70% of Nigeria’s imports and exports. The development was disclosed in a statement by Bolaji Akinola, Special Adviser to the Minister of Marine and Blue Economy, and is expected to be formally signed during a state visit to London on March 18 and 19, 2026.

For years, these ports have carried the weight of Nigeria’s trade but have struggled with congestion, delays, and outdated systems. Despite their importance, both facilities have not kept pace with the demands of modern global shipping. The Lagos Port Complex, established in 1913, remains the country’s oldest and busiest seaport, while Tin Can Island Port, built in 1977 to support it, has also faced similar pressure over time.This new investment is designed to change that story.

The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, described the agreement as a defining moment for Nigeria’s maritime sector, noting that what is planned goes far beyond routine upgrades. According to him, this will be the first full-scale overhaul of the ports since they were built, with the goal of bringing them in line with international standards.

The modernisation plan includes the introduction of advanced cargo-handling systems, expansion of port capacity, and the rollout of digital operations to reduce manual processes. These changes are expected to tackle long-standing bottlenecks that slow down movement at the ports.

With improved systems in place, vessel turnaround time is expected to drop significantly, while cargo will spend less time sitting at the ports. This means goods can move faster, businesses can operate more efficiently, and the overall cost of logistics could reduce. Increased efficiency and transparency are also expected to improve confidence in Nigeria’s port operations.

This project is widely seen as the largest port upgrade effort in nearly 50 years, reflecting how critical the moment is for Nigeria’s trade infrastructure. Beyond the physical improvements, it also signals stronger economic ties between Nigeria and the United Kingdom, especially in the areas of infrastructure development and trade. Currently, trade between both countries stands at about £8.1 billion annually.

At its core, this is about positioning Nigeria for the future. Efficient ports are central to economic growth, and with this level of investment, the country is taking a decisive step towards advancement.

If delivered as planned, the transformation of Apapa and Tin Can ports could mark the beginning of a new era, one where Nigeria’s gateways to global trade reflect the country’s true capacity and ambition. Beyond easing congestion, this upgrade positions Nigeria to take its rightful place as a leading maritime hub in West and Central Africa, unlocking stronger trade flows, attracting investment, and reinforcing its role at the centre of regional commerce.

Ovaltine Launches £24 Million Manufacturing Hub in Lagos

Nigeria’s industrial landscape is drawing fresh global attention, and the latest signal comes from a familiar household name. Twining’s Ovaltine is setting down roots in Lagos with a £24 million manufacturing facility, its first on the African continent, marking a strategic shift toward local production and regional expansion.

The investment represents a calculated move to serve Nigeria’s vast consumer market while positioning Lagos as a springboard for exports across West Africa. Once operational, the facility is expected to generate over 100 direct jobs and deepen the company’s footprint in a region where demand continues to rise.

The announcement emerged within the broader context of ongoing UK-Nigeria trade engagements, reflecting a steady acceleration in economic ties between both countries. British authorities note that companies from the UK are increasingly turning their attention to Nigeria, drawn by its scale, growth potential, and evolving business environment.

According to officials, the Lagos plant will strengthen Ovaltine’s ability to meet local demand efficiently while reducing reliance on imports. At the same time, it opens up new export channels into neighbouring markets, reinforcing Nigeria’s role as a manufacturing and distribution hub in West Africa.

The UK’s Business and Trade Secretary, Peter Kyle, framed the development as part of a larger economic alignment between both nations. He pointed to a shared belief in enterprise, innovation, and education as drivers of prosperity, noting that recent commitments on both sides are already translating into job creation and tangible economic outcomes. As Nigerian firms expand into the UK and British companies deepen their presence in Nigeria, the partnership is increasingly delivering mutual benefits.

Ovaltine’s move is only one piece of a broader wave of collaboration especially as financial technology firm Wise is preparing to secure its first Nigerian licence, a step that will allow it to tap into the country’s dynamic remittance market. In the creative sector, the SCALE Creative Entrepreneur Award Programme, backed by the British Council and the UK Department for Business and Trade, is opening international pathways for emerging talent from both countries.

Further initiatives are unfolding across industries as plans are underway for a UK-Nigeria Advertising Summit and a talent exchange programme led by the UK Advertising Exports Group in partnership with Nigeria’s advertising sector. In culture, both countries are preparing for a UK/Nigeria Season of Culture in 2028, alongside a Creative Industries Roundtable at Lancaster House that will bring together key stakeholders.

Nigeria is not just participating in global investment flows, it is shaping them and Ovaltine’s Lagos facility stands as a tangible symbol of that momentum, where local industry, international capital, and regional ambition converge.

Abeokuta plans N350m world’s tallest drum to boost culture and tourism

In Abeokuta, where history and identity often find expression through culture, an ambitious idea is beginning to take shape, one that its promoters believe could redefine how heritage drives economic growth.

At the centre of this vision is Dr. Lai Labode Jnr, founder of Egbaliganza, a cultural movement designed to reshape not only Ogun State’s cultural landscape but also its economic prospects. Speaking during a briefing on Tuesday ahead of this year’s Egbaliganza celebration held in conjunction with the 39th Lisabi Festival, Dr. Labode unveiled plans for a striking project: the construction of what is projected to be the world’s tallest drum, with an estimated cost of N350 million.

Conceived as a “drum of unity,” it is intended to serve as a global tourist attraction capable of drawing attention to Egba land while stimulating local enterprise. According to Labode, the project will not rely on a handful of financiers; instead, it will be collectively funded by contributors from around the world, giving it a shared sense of ownership and global relevance.

“This is not a project for a select few,” he explained. “It is something people across the world will contribute to and identify with.” The structure, to be named the Alake Egbaliganza Drum, will also carry a strong local imprint, as it is expected to be built by an Egba indigene.

The announcement ties into a broader cultural revival effort anchored by Egbaliganza itself, a festival that first took shape in 2024. Its creation, Labode noted, was inspired by a challenge from the Alake and paramount ruler of Egba land, Oba Adedotun Gbadebo, who had called on Egba sons and daughters to develop innovative ideas capable of advancing both the community and the nation.

Since then, Egbaliganza has carved out a distinct identity by blending fashion with tradition. The festival places a spotlight on Egba heritage through carefully curated displays of indigenous attire, positioning culture not as nostalgia but as a living, evolving asset. This year’s edition promises to expand that vision significantly.

Dr. Labode revealed that delegations from more than 50 countries are expected to attend, joining in homage to the legendary Lisabi Agbongboakala while also paying respect to Oba Gbadebo. The event will feature elaborate parades of locally crafted fashion, with royal figures, including the Alake and the Olowu, Oba Matemilola, participating in showcasing traditional designs.

Amid growing attention around the festival’s expansion, Dr. Labode also addressed concerns about any perceived rivalry with the longstanding Lisabi Festival. He dismissed such notions, emphasizing that Egbaliganza, now evolving into what will be known as Alake Egbaliganza, remains an integral part of the broader celebration, working in harmony to promote Egba culture.

Beyond pageantry, the underlying ambition is clear: to position culture as a driver of investment and tourism. With the proposed drum monument serving as a focal point, the organisers are betting on heritage not just as identity, but as infrastructure, one capable of attracting global interest while reinforcing local pride.

If realised, the project could stand as a towering testament to what is possible when tradition meets vision, an idea rooted in Egba land, but designed to resonate far beyond it.

Nigeria launches “Fly Now, Pay Later” for domestic flights

In a move that could reshape how Nigerians approach domestic travel, the Federal Government has rolled out a new credit-based initiative designed to ease the financial burden of flying within the country.

Branded “Fly Now, Pay Later,” the scheme introduces a structured financing option that allows eligible travellers to book domestic flights immediately and spread the cost over time. The programme is being driven by the Nigerian Consumer Credit Corporation (CREDICORP), which formally unveiled the initiative on Tuesday.

At its core, the offering targets a persistent challenge in Nigeria’s aviation space: the steep upfront cost of airfare. By removing the need for full payment at the point of booking, the government hopes to unlock mobility for individuals whose travel plans are often delayed or cancelled due to financial constraints.

CREDICORP explained that the initiative is part of a broader push to expand access to responsible consumer credit while improving everyday living standards. “Eligible customers can book domestic flights today and repay the cost over time through structured financing,” the corporation stated, emphasising that opportunity should not be hindered by immediate financial limitations.

To bring the product to market, CREDICORP is working in collaboration with MyVisaro and Alert Microfinance Bank, partnerships aimed at ensuring both accessibility and financial discipline within the scheme. Interested Nigerians are directed to apply through visaro.ng, where they can select and secure flights to destinations across the country under the new payment model.

The timing of the rollout is significant particularly as domestic air travel in Nigeria has seen sharp price increases in recent times, placing it out of reach for many. During the 2025 Yuletide season, for instance, one-way tickets on some routes surged by about 150 per cent, with fares climbing beyond ₦300,000. Airlines have linked these spikes to escalating aviation fuel costs, foreign exchange pressures, and rising operational expenses.

Against this backdrop, the “Fly Now, Pay Later” initiative positions itself as both a financial tool and a mobility enabler, one that aligns with ongoing efforts to deepen financial inclusion while supporting connectivity across Nigeria’s cities.

Whether it ultimately transforms travel habits or simply offers temporary relief will depend on adoption and execution. For now, however, it signals a notable shift: the idea that flying within Nigeria may no longer be reserved only for those who can afford to pay upfront.

Nigeria moves to T+1 settlement from May 29 —faster trades, stronger market

Nigeria’s capital market is set for a decisive leap toward faster, more efficient trading, as regulators and market operators align around a shorter settlement cycle that will take effect at the end of May.

Beginning Friday, May 29, 2026, all securities transactions in the Nigerian market will be completed within one business day after execution, a shift from the current two-day (T+2) framework. The transition, confirmed in a notice issued on Monday, by the Central Securities Clearing System (CSCS), the depository and settlement arm of the Nigerian Exchange Group (NGX), signals a tightening of post-trade timelines in line with evolving global standards.

In practical terms, the reform compresses the window between trade execution and final exchange of cash and securities, enabling investors to access their funds and reinvest more quickly. The CSCS made it clear that the transition will be seamless but precise: trades executed on Thursday, May 28, 2026, the final day under the T+2 system, and those carried out on Friday, May 29, the first day of T+1 trading, will both settle on Monday, June 1, 2026.

Behind this adjustment lies a broader ambition to modernize Nigeria’s financial market infrastructure. Backed by the Securities and Exchange Commission (SEC) and key industry stakeholders, the move is expected to sharpen operational efficiency, reduce settlement risk, and strengthen overall market confidence. Shorter settlement cycles are widely regarded as a hallmark of competitive capital markets, and Nigeria’s adoption underscores its intent to remain attractive to both domestic and international investors.

By narrowing the settlement gap, the market can recycle capital more rapidly, a development that could deepen liquidity and enhance trading activity across equities and other securities. At the same time, faster settlement reduces counterparty exposure, the risk that one party fails to complete a transaction, thereby lowering the likelihood of failed trades.

However, achieving this requires careful coordination as exchanges, brokers, custodians, registrars, settlement banks, and institutional investors are all expected to recalibrate their systems and workflows ahead of the rollout. The success of the transition will depend not only on infrastructure readiness but also on the ability of market participants to adapt to tighter timelines without operational friction.

This latest reform builds on a sequence of deliberate upgrades within Nigeria’s capital market. As recently as November 2025, the country moved from a T+3 to a T+2 settlement cycle, a change aimed at improving efficiency and reducing systemic risk. According to SEC Director-General Dr. Emomotimi Agama, accelerating settlement timelines is essential for minimizing transaction failures and strengthening market integrity.

The shift to T+1 is not the final destination. Rather, it forms part of a phased roadmap that could eventually lead to same-day (T+0) settlement. Regulators have indicated that while the clearing infrastructure already possesses the technical capacity to support even faster cycles, a gradual approach has been chosen to safeguard market stability and accommodate the needs of institutional investors, including pension funds and asset managers.

By closing the gap between trade and settlement, the market is positioning itself as faster, safer, and more globally competitive, reinforcing its role as a critical engine for capital formation and economic growth.

NAF Introduces One-Year Salary Protection for Families of Fallen Personnel

The Nigerian Air Force (NAF) has approved a new welfare measure that will allow the families of personnel who die in active service to continue receiving their salaries for up to 12 months after their death.

The initiative, authorised by the Chief of the Air Staff, Air Marshal Sunday Aneke, is aimed at easing the immediate financial burden often faced by bereaved families while official death benefits are being processed.

Under existing public service regulations, salary payments typically stop once a service member passes away. However, the newly approved policy creates an exception for personnel who lose their lives in the line of duty.

With the new arrangement, the salaries of affected personnel will continue for up to 12 months from the date of death, or until all death benefits have been fully processed and paid, whichever occurs first. 

The extension is designed to provide temporary financial stability for spouses, children, and other next of kin during the often lengthy administrative process that follows the death of a service member.

In addition to the salary extension policy, the Chief of the Air Staff has also approved additional welfare packages for officers, airmen, and airwomen across the service. The initiatives are part of broader efforts to support personnel and help cushion the economic pressures affecting service members and their families.

The reforms reflect the Air Force’s growing emphasis on welfare as a key pillar of operational effectiveness. Leadership within the service maintains that the wellbeing of personnel and their households plays a crucial role in sustaining morale and strengthening combat readiness.

“Enhanced welfare drives effective warfare,” the guiding principle behind the reforms emphasises, underscoring the goal of ensuring that no airman is left unequipped, untrained, or unmotivated.

Ultimately, the new policy stands as both a practical support measure and a recognition of sacrifice. By guaranteeing continued financial support for a period after a service member’s death, the Nigerian Air Force aims to honour fallen personnel while ensuring the families they leave behind are not left vulnerable during a difficult transition.

Kwara Leads Nigeria With Lowest Under-Five Mortality Rate in 2024

Kwara State has emerged as the leading state in Nigeria for child survival, posting the lowest under-five mortality rate in the country, according to the 2024 Nigeria Demographic and Health Survey (NDHS) conducted by the Federal Ministry of Health.

Governor Abdulrahman AbdulRazaq announced that the findings place Kwara at the top nationally as the best state in Nigeria for a child to be born and raised. The report shows that the state recorded 14 deaths per 1,000 live births among children under five, the lowest figure nationwide.

The governor described the development as a significant milestone for the state’s healthcare system, attributing the progress to sustained investments in primary healthcare services across communities.

While acknowledging the achievement, Governor AbdulRazaq stressed that the state government would not treat the ranking as a final destination. Instead, he said it serves as motivation to intensify ongoing efforts to strengthen healthcare delivery and improve outcomes for mothers and children.

He also expressed pride in the state’s current standing, noting that the results reflect deliberate policies aimed at expanding access to quality healthcare.

The latest ranking reinforces earlier reports highlighting Kwara’s progress in child health indicators. In 2025, the Kwara State Primary Healthcare Development Agency disclosed that the state had already recorded the lowest child mortality indicators in the country.

Speaking during the First Quarterly Meeting of the Kwara State Task Force on Immunisation and Primary Health Care in Ilorin, the agency’s Executive Secretary, Nusirat Elelu, explained that data from the Nigeria Demographic and Health Survey at the time showed two child deaths per 1,000 live births, the lowest recorded across Nigerian states.

Elelu linked the improvement to expanded healthcare services and growing public confidence in medical facilities. She also pointed to improved access to skilled birth attendants in primary healthcare centres, which has played a crucial role in safeguarding the health of mothers and young children.

Together, the NDHS findings and the state’s earlier progress suggest that consistent investment in community-based healthcare is gradually reshaping child survival outcomes in Kwara, positioning the state as a model for improved maternal and child health in Nigeria.

Lagos Targets 50,000 Out-of-School Children With New $25m Education Initiative

Lagos State has unveiled an ambitious plan to tackle one of the most persistent challenges in the education sector: children who remain outside the classroom. Through a newly introduced programme known as the Lagos Education Access Fund (LEAF), the state government aims to enrol 50,000 out-of-school children into formal education while also strengthening learning outcomes across public schools.

The initiative was formally introduced on Friday at Lagos House, Marina, where Governor Babajide Sanwo-Olu outlined the vision behind the programme. According to a statement by Abe Adunola, Director of Public Affairs at the Lagos State Universal Basic Education Board, the intervention represents a major step in the state’s effort to ensure that every child has access to free and quality basic education.

Education, the governor noted during the launch, remains one of the most powerful drivers of social mobility, human capital development, and economic growth. For a rapidly expanding state like Lagos, he stressed, investing in children’s learning is essential to building a sustainable future.

At the heart of the programme is a $25 million outcomes-based education fund, designed to support approximately 200,000 children across communities in the state. Of that number, 50,000 out-of-school children aged between six and 14 will be enrolled into formal schooling. Another 150,000 pupils already attending public schools will benefit from strengthened programmes focused on improving foundational literacy and numeracy.

The new intervention builds on earlier efforts under Project Zero, a campaign launched in 2021 to identify and reintegrate children who had dropped out of school. Since the initiative began, more than 36,000 children have already returned to classrooms across Lagos.

Beyond classroom access, the programme also seeks to address the socio-economic realities that often keep children away from school. As part of the effort, over 360 parents and guardians have received training in vocational and livelihood skills, including fashion designing, catering, soap making, and hairdressing, enabling them to better support the education of their children.

Officials say the initiative fits into the broader development framework of the state government, particularly the THEMES+ Development Agenda, whose priorities include strengthening education and technology as key pillars for building a knowledge-driven society.

The programme is supported by several international and institutional partners, some of which includes; Education Outcomes Fund, the Children’s Investment Fund Foundation, the Federal Ministry of Education, and Japan’s Ministry of Foreign Affairs. The governor expressed appreciation for their collaboration and also commended the leadership of the Lagos State Universal Basic Education Board for advancing reforms in basic education.

Speaking earlier at the event, Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, described the Lagos Education Access Fund as a strategic intervention designed to strengthen the state’s education ecosystem and accelerate children’s access to quality learning.

The Chief Executive Officer of the Education Outcomes Fund, Dr Amel Karboul, highlighted what makes the programme distinctive: a results-based financing model. Instead of funding inputs such as textbooks or teachers’ salaries, the system focuses on measurable outcomes.

According to Karboul, funding will be tied to verifiable indicators such as school enrolment, retention, and completion, ensuring that both out-of-school children and those already enrolled receive meaningful educational support. Technology and data monitoring systems will also be deployed to track progress and confirm that children remain in school and benefit from effective learning.

Additional backing for the programme comes from the Children’s Investment Fund Foundation, whose Director, Eunice Ogolo, announced a $10 million contribution toward the initiative. She emphasised the urgency of addressing the persistent challenge of children who are either outside the school system or not learning effectively.

“When children are not in school or are not learning effectively, their future potential becomes limited,” Ogolo said, while praising Lagos State for embracing results-driven solutions to improve learning outcomes.

The Lagos Education Access Fund represents both an education reform effort and a social intervention and by combining targeted enrolment, improved learning support, community participation, and results-based funding, the programme aims to move Lagos closer to a future where every child gains the literacy and numeracy skills needed to thrive.

Togo Looks to Nigeria for Increased Electricity Supply

Togo is seeking to deepen its energy partnership with Nigeria as rising electricity demand pushes the country to secure additional power for homes, businesses, and public institutions.

The request emerged during a meeting in Abuja between officials of Nigeria’s Niger Delta Power Holding Company (NDPHC) and a delegation from Compagnie Energie Electrique du Togo (C.E.E.T) led by its Director-General, Débo K’mba Barandao. The talks included Jennifer Adighije, Managing Director/CEO of NDPHC, and Omoregie Ogbeide-Ihama, Executive Director of Corporate Services.

Togo already relies on Nigeria for part of its electricity supply. According to Barandao, C.E.E.T currently purchases about 75 megawatt-hours of electricity from NDPHC under an existing bilateral arrangement. The imported power, he said, has helped sustain stable electricity across the country, supporting economic activities while delivering reliable and affordable energy to households, businesses, and public institutions.

However, electricity demand in Togo is rising sharply as well as expanding industrial and commercial activity, alongside government efforts to extend national grid access, has increased pressure on the country’s power system. As a result, C.E.E.T is seeking to increase the volume of electricity it off-takes from NDPHC to support its growing network of consumers.

Responding to the request, Jennifer Adighije reaffirmed NDPHC’s readiness to strengthen electricity exports to neighbouring countries. She noted that the company operates several power plants under Nigeria’s National Integrated Power Project (NIPP), positioning it to support expanded regional supply.

Adighije added that the partnership aligns with wider Economic Community of West African States (ECOWAS) efforts to strengthen electricity trade across the region. She emphasised, however, that any expansion would require bankable commercial arrangements, including credible financial guarantees and structured payment mechanisms to safeguard NDPHC’s interests.

Both parties described the Abuja meeting as productive and agreed to continue discussions aimed at establishing workable frameworks for increased electricity supply from Nigeria to Togo.

For observers, the development reflects a broader shift across West Africa, where regional electricity cooperation is increasingly becoming a practical response to rising demand and persistent power shortages. 

Wunmi Mosaku Earns Oscar Nomination, Strengthening Nigeria’s Footprint on the Global Screen

When the nominees for the 98th Academy Awards were unveiled, one name resonated strongly among Nigerian film enthusiasts around the world: Wunmi Mosaku. The Nigerian-British actress earned a coveted nomination for Best Supporting Actress, marking a significant moment in her steadily rising career.

Mosaku’s recognition comes for her role in the film Sinners, a production that has already generated considerable buzz ahead of Hollywood’s biggest night. The film is widely viewed as one of the major contenders across multiple categories at the 2026 Academy Awards, which take place on Sunday, March 15.

In the Best Supporting Actress category, Mosaku will compete against Elle Fanning, Inga Ibsdotter Lilleaas, Amy Madigan, and Teyana Taylor, forming a highly competitive field in one of the evening’s most closely watched categories.

The film Sinners itself carries strong momentum into the ceremony as its cast has secured multiple nominations, underscoring the film’s critical reception. Michael B. Jordan is nominated for Best Actor, while Delroy Lindo is also recognised with a Best Supporting Actor nomination.

Beyond its acting categories, Sinners is frequently mentioned alongside One Battle After Another as one of the films expected to dominate conversations during the awards night. Both productions have emerged as early front-runners for several of the Academy’s top honours.

The ceremony, set to unfold on Sunday, March 15, will once again be hosted by American comedian Conan O’Brien, who returns to guide the evening’s celebration.

For audiences in Nigeria and across the diaspora, Mosaku’s nomination does carry a deeper meaning as her presence among the Oscar nominees highlights the growing influence of performers of Nigerian heritage on the international stage. Each recognition of this kind adds another chapter to a widening story, one where Nigerian talent continues to shape and enrich global storytelling.

As the world’s film industry turns its attention to the 98th Academy Awards, Mosaku’s nomination stands as both a personal achievement and another reminder of the creative reach of Nigerian voices in global cinema

Alan Adeboye Honoured for Championing Youth Leadership Across Africa

Nigeria’s growing influence in youth leadership and continental engagement received fresh recognition on the international stage as Alan Adeboye was honoured at the 2026 Iconic Africa Summit and Honours in Harare, Zimbabwe.

Adeboye, who serves as Special Envoy on Youth Affairs at the International Forum for Peace and Diplomacy, received the Youth Leadership Advocacy Award during the summit’s grand ceremony held at the Rainbow Towers Hotel and Conference Centre on Friday, February 13. The event drew a wide range of influential participants, including policymakers, diplomats, development partners, youth leaders and private sector stakeholders representing 54 countries across Africa.

The award acknowledges Adeboye’s sustained commitment to strengthening youth participation in leadership and development conversations across the continent. His work has focused on encouraging young Africans to play more active roles in governance, entrepreneurship and cross-border collaboration.

Organisers of the summit noted that his initiatives continue to advance youth inclusion while building networks that connect young leaders across national boundaries.

The Iconic Africa Summit, convened under the theme “The Africa We Want: Sustainable Development; Everyone’s Responsibility,” provided a platform for discussions on Africa’s economic future, regional integration and the role of young people in shaping sustainable progress. Conversations at the gathering also examined opportunities created by the African Continental Free Trade Area, with particular emphasis on empowering the continent’s youthful population to drive innovation and economic growth.

Adeboye’s recognition came during a ceremony attended by senior government officials and continental stakeholders. The award was presented by Zimbabwe’s Vice President, Kembo Mohadi, alongside the country’s Minister of Youth Affairs, Tinoda Machakaire.

Speaking after receiving the honour, Adeboye described the award as a tribute not only to his work but also to the potential of Africa’s young population.

“I am receiving this honour as a symbol of the power and promise of African youth,” he said. “I remain grateful to the organisers for this recognition. My commitment is simple and clear: to champion youth inclusion, drive sustainable development and ensure young Africans are not just participants in our future but leaders shaping it.”

He added that stronger partnerships and coordinated action across the continent would be essential to unlocking the full potential of Africa’s youth.

“Together, through strategic partnerships and purposeful action, we can build a continent where youth potential translates into lasting impact,” Adeboye said.

The recognition highlights the increasing visibility of African youth advocates who are working to shape policy conversations and development strategies across the continent, reinforcing the growing role of young leaders in Africa’s transformation.