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UN Chief Urges Compliance After Israel-Hamas Agreement on Gaza

United National Secretary General António Guterres has called on all parties to adhere to the reached agreement between Israel and Hamas on the first phase of a U.S.-backed Gaza peace plan.

“All hostages must be released in a dignified manner. A permanent ceasefire must be secured,” Guterres said in a statement on X on Thursday, urging an end to fighting and immediate, unhindered access for humanitarian aid into Gaza. “The suffering must end” he added.

Guterres praised diplomatic efforts by the United States, Qatar, Egypt and Turkey, which helped broker the deal at talks in the Egyptian coastal resort of Sharm el-Sheikh.

The United Nations would support full implementation of the agreement, expand humanitarian aid and assist reconstruction efforts in Gaza, Guterres said.

The UN chief also encouraged both sides to seize this momentous opportunity to advance a two-state solution that would allow Israelis and Palestinians to live in peace and security. “The stakes have never been higher,” he said.

The two-state solution envisages an independent Palestinian state coexisting peacefully alongside Israel.

Both Israeli Prime Minister Benjamin Netanyahu and Hamas currently rejected such an outcome. (dpa/NAN)

United National Secretary General António Guterres has called on all parties to adhere to the reached agreement between Israel and Hamas on the first phase of a U.S.-backed Gaza peace

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Benue Procures Medical Equipment for Teaching Hospital

George Okoh in Makurdi

The Benue State Government, through the United International Technologies (UIT), yesterday delivered the third tranche of medical and non-medical equipment to the Benue State University Teaching Hospital (BSUTH) in Makurdi.

The latest delivery is part of the contractual agreement with the Benue State Government to equip BSUTH as a centre of medical excellence and a medical tourism hub among Nigeria’s leading tertiary health institutions.

While delivering the pieces of equipment, the state Commissioner for Health and Human Services, Dr. Beatrice Tsavbu, represented by the permanent secretary of the ministry, commended the state Governor, Hyacinth Alia’s administration for its commitment to strengthening the healthcare system through massive investments in infrastructure and human resources.

She lauded the choice of Dr. Terungwa Stephen Hwande as the Chief Medical Director, noting that his innovative leadership continues to drive the hospital toward excellence.

She also praised UIT for maintaining high-quality standards in every phase of the equipment supply and installation.

In his remarks, the Chief Medical Director, Dr. Stephen Hwande, appreciated Governor Alia for his transformational leadership and unwavering support of the hospital. He described the gesture as another milestone in BSUTH’s journey toward world-class healthcare delivery.

Hwande noted that with the arrival of the high-end equipment, BSUTH is now positioned to compete favourably with other teaching hospitals across Africa while reducing unnecessary medical tourism abroad.

The CMD also used the opportunity to inform the world of the second International Health Investment Summit and Scientific Exhibition of BSUTH scheduled for October 16 and 17, 2025, at the BSUTH Cafeteria, Makurdi.

He said the summit would evaluate the progress of the governor’s health sector reforms and provide a roadmap for sustainable development in the health industry.

The equipment supplied was meant for the Hematology Department, Chemical Pathology, Microbiology Department, Anatomical Department, Intensive Care Unit (ICU), Obstetrics and Gynecology, Surgery, Radiology, VIP Clinic, Anaesthesia, and Ophthalmology Department. The equipment was handed over to the various heads of department for installation and immediate usage.

George Okoh in Makurdi The Benue State Government, through the United International Technologies (UIT), yesterday delivered the third tranche of medical and non-medical equipment to the Benue State University Teaching Hospital

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Tinubu Inaugurates $400m Nigeria’s First Indigenous Crude Export Terminal in Rivers

•Says facility signals renewed hope in N’Delta, $5bn Energy Bank set to takeoff

•Komolafe discloses local players account for over 30% oil output

•1m barrels of export operations already concluded, says GEIL chair

Emmanuel Addeh in Abuja

President Bola Tinubu yesterday commissioned the $400 million Green Energy International Limited (GEIL) crude oil export terminal in Otakikpo, Rivers State, the first by any Nigerian company, and the only one built in the country in over 50 years.

Speaking at the event, the President said that the project represented a new chapter in Nigeria’s oil and gas industry and aligned directly with the core priorities of his administration to ramp up crude oil production by enabling a secure, transparent, and efficient evacuation system.

Tinubu stated that the Otakikpo terminal will not only serve GEIL’s production, but will also open an efficient evacuation outlet for marginal and stranded fields across the Niger Delta region, unlocking billions of barrels of reserves and creating value for the economy.

Represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, Tinubu stressed that the project was also a shining example of his government’s expectation of current licensees. He noted that having provided what he described as ‘global competitive fiscals and incentives’, his expectation and hopes were that they will put fields to work to meet set obligations.

On the Ogoni and federal government peace resolution, he stressed that only recently, the government, working with the people of the area and other stakeholders in Rivers State, reached a deal to pave the way for the resumption of oil exploration activities in Ogoni land.

Describing it as a significant breakthrough, Tinubu stated that it reflects Nigeria’s collective commitment to dialogue, mutual respect, and sustainable development, explaining that the Otakikpo terminal is therefore not just an infrastructure project, but a signal of renewed confidence in Rivers State and the Niger Delta.

“Today’s commissioning is more than just opening of a terminal, it is a testament of Nigeria’s resilience and commitment, a new era of indigenous participation, and progress in our oil and gas sector,” he added.

Speaking on financing challenges in the oil and gas sector, the President stated that that era will soon be over, assuring that the $5 billion African Energy Bank (AEB) was about to commence operations and will ease the difficulty in getting funding.

“Let me also assure Green Energy that the era of perhaps looking elsewhere for finance will soon be over. We have discovered that the biggest challenge we have in Africa is access to finance. And that was why we’ve come up with the African Energy Bank, which is ready to go.

“Nigeria as the host country has met its obligations. We have met all our obligations, whether legal or financial. We have met all our obligations. We are waiting for the bank to take off, which I think will take off any moment from now,” Tinubu stated.

According to the President, another big issue in the oil sector is evacuation of crude oil, noting that the new 750,000 barrels facility expandable to 3 million barrels, will help ameliorate such existing problems.

He also cautioned against holding on to oil licences eternally without doing any serious field work, stressing that that era was also over for good.

“There is always a minimum work obligation. The minimum work obligation must be met by all those who have marginal licenses. If you don’t have capacity to do it, you better go and look for something else to do instead of wasting your time in oil and gas,” he warned.

Also speaking, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, described the terminal as historic on two levels, explaining that apart from expanding Nigeria’s crude export infrastructure at a critical time, it demonstrates the capacity of Nigerian operators to deliver world-class projects.

Komolafe expressed the view that the Otakikpo terminal project was in alignment with the country’s current 1.8 million barrels per day national crude oil near-term production projection and the need for efficient evacuation.

By creating an alternative export hub in Rivers State, Komolafe emphasised that the Otakikpo terminal reduces over-reliance on existing terminals, many of which are already operating at near capacity and are exposed to security and pipeline issues.

According to him, the industry’s indigenous operators have evolved to the stage of accounting for 30 per cent of the national production, a testament to how Nigerians were taking over the oil and gas sector.

“Also it is of benefit for indigenous producers. In the past, Nigeria independents had to rely heavily on infrastructure owned by international oil companies often at high crude oil handling charges and transportation costs. In this situation we are all aspiring to reduce the unit cost per barrel.

“The rise of indigenous terminals such as Otakikpo terminal will change that dynamic and give local companies direct control over evacuation. This will not only improve margins but also reduce delays and strengthen their overall competitiveness,” he added.

In his remarks, the Chairman and Chief Executive of GEIL, Prof. Anthony Adegbulugbe, said the storage capacity of the terminal is currently 750,000 barrels, which is expandable to 3 million barrels.

Besides, he disclosed that the facility has a pumping capacity of 360,000 barrels per day, pointing out that since June 2025, the company has completed four export operations, totalling 1 million barrels of crude oil.

Beyond the numbers, the terminal, Adegbulugbe said, is a catalyst for national renewal as it opens the door for more than 40 stranded fields in the region, with over 3 million barrels of reserves, long held back by a lack of export infrastructure.

According to him, the fields alone could contribute more than 200,000 barrels per day to the country’s production.

“This terminal is not just another infrastructure project. It is the realisation of a vision that says Nigeria can lead. That Nigerian companies can deliver. That our energy future is ours to define. I am proud to state that this facility was conceived, designed, and delivered 100 per cent by Nigerian talent. From engineering to construction, it reflects the depth of expertise and capacity that resides in our nation.

“This should give us all confidence: Nigerian innovation can drive Nigerian success; indigenous operators can execute world-class projects with excellence, within budget, and ahead of schedule,” Adegbulugbe stressed.

•Says facility signals renewed hope in N’Delta, $5bn Energy Bank set to takeoff •Komolafe discloses local players account for over 30% oil output •1m barrels of export operations already concluded,

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With Reform Momentum, It’s Time to Bring Gains to the People, Says W’Bank

•Projects 139 million Nigerians living in poverty, 4.4% economic growth, up from 4.2%

• FTSE Russell places Nigeria on watch list for possible return to Frontier Market Index

•Presidency reassures Nigerians of inclusive growth, economic relief

Deji Elumoye, Ndubuisi Francis in Abuja, Nume Ekeghe and Kayode Tokede in Lagos

The World Bank has again acknowledged important steps taken by Nigeria towards stabilising its economy through recent policy reforms, but underscored the need to ensure the gains trickle down to better living standards for its citizens.

According to the latest Nigeria Development Update (NDU), titled “From Policy to People: Bringing the Reform Gains Home,” which was released in Abuja, yesterday, Nigeria has recorded progress in economic growth, domestic revenue mobilisation, monetary policy, and external balances.

However, it pointed to persistent challenges such as high food inflation, widespread poverty, and structural barriers that constrain inclusive growth.

The NDU stated that Nigeria’s economy expanded by 3.9 per cent year-on-year in the first half of 2025, up from 3.5 per cent in the same period of 2024.

The World Bank report came just as global index compiler, FTSE Russell, placed Nigeria on its Watch List for a potential reclassification from Unclassified to Frontier Market status, signalling renewed investor confidence in the country’s improving foreign exchange conditions and capital repatriation environment.

The World Bank report added that Nigeria’s economic growth was driven by strong performance in services and non-oil industries, alongside improvements in oil production and agriculture, stressing that the country’s external position has also strengthened, with foreign reserves exceeding $42 billion and the current account surplus rising to 6.1% of GDP, supported by higher non-oil exports and lower oil imports.

According to the NDU, on the fiscal side, despite lower oil prices, federal deficit is projected at 2.6 per cent of GDP in 2025, broadly unchanged from 2024, while public debt is expected to decline for the first time in over a decade—from 42.9 to 39.8 per cent of GDP.

However, the report cautioned that these macroeconomic gains were yet to translate into tangible improvements in people’s lives.

Many households, it pointed out, continue to face hardship, with poverty and food insecurity remaining high, adding that food inflation remains a major concern as poor households who spend up to 70 per cent of their income on food—have seen the cost of a basic food basket rise five-fold between 2019 and 2024.

The NDU noted that while current reforms are addressing long-standing policy distortions, sustained progress in livelihoods will depend on continued efforts to reduce inflation, foster inclusive growth, strengthen public services, and expand support for the most vulnerable.

“The Nigerian government has taken bold steps to stabilize the economy, and these efforts are beginning to yield results,” said Mathew Verghis, World Bank Country Director for Nigeria. “But macroeconomic stability alone is not enough. The true measure of success will be how these reforms improve the daily lives of Nigerians—especially the poor and vulnerable.”

The NDU listed three urgent priorities for Nigeria to embrace.

These include tackling food inflation by removing trade barriers such as import bans and excessive duties, while addressing structural bottlenecks in seeds, input supply, security, logistics, and infrastructure (including transport, power, storage, and cold chains).

The priorities also include improving the efficiency of public spending through greater fiscal transparency, stronger discipline in Federation Account (FAAC) deductions, and a national pact to align fiscal policy with development objectives, especially human capital investments.

It also alluded to expanding and institutionalising social protection, including regular, domestically financed cash transfers for the ultra-poor and a shock-responsive safety net system to help households manage crises.

Presenting the report, World Bank’s Senior Economist for Nigeria, Samer Matta argued that while the economic outlook remained cautiously optimistic, with growth projected to rise from 4.2 per cent in 2025 to 4.4 per cent in 2027, inflation would continue to pose a major challenge.

“Food inflation remains the biggest tax on the poor,” Matta said, underscoring the need for continued monetary discipline and sustained structural reforms to ensure the benefits of economic recovery reach ordinary Nigerians.

On his part, the World Bank Country Director for Nigeria, Mathew Verghis commended the Nigerian government for implementing bold policy reforms which have begun to stabilise the economy.

However, he lamented that millions of Nigerians were yet to feel the benefits.

“Over the last two years, Nigeria has tremendously implemented bold reforms — notably around the exchange rate and petrol subsidy.

“These policies have laid the foundation for transforming Nigeria’s economic trajectory for decades to come,” Verghis said.

Further acknowledging the impact of the reforms Verghis alluded to rising revenues, stabilising foreign exchange markets, growing reserves, and declining inflation.

“Growth has picked up, revenues have risen, debt indicators are improving, the FX market is stabilising, reserves are rising, and inflation is finally beginning to come down. These are big achievements, and many countries would envy them,” he said.

But, he noted that Nigeria now faces the urgent challenge of converting macroeconomic stability into welfare gains for its people.

“Despite these stabilisation gains, many Nigerians are still struggling. In 2025, we estimate that 139 million Nigerians live in poverty. The challenge is clear: how to translate the gains from the reforms into better living standards for all,” he stated

Food inflation must be tackled decisively to protect the poor and sustain political support for reforms, he said.

“Food inflation affects everybody, but particularly the poor, and has the potential to undermine political support for reforms,” he said.

“Tight monetary policy is important, but it must be complemented by structural reforms to address deep-seated supply and market constraints,” he further explained.

Verghis assured that the World Bank was committed to supporting Nigeria’s economic reform agenda through policy advice, technical assistance, and financing.

Meanwhile, global index compiler, FTSE Russell, has placed Nigeria on its Watch List for a potential reclassification from Unclassified to Frontier Market status, signalling renewed investor confidence in the country’s improving foreign exchange conditions and capital repatriation environment.

The announcement, contained in the firm’s 2025 Annual Equity Country Classification Review, marks a major milestone for Nigeria, almost two years after it was delisted from all FTSE global indices due to severe dollar shortages which hindered investor exits and distorted the FX market.

According to the statement published on the London Stock Exchange Group (LSEG) website, “Nigeria is being added to the Watch List for possible reclassification from Unclassified to Frontier Market status as the market meets the five FTSE Quality of Markets criteria required for attaining Frontier Market classification.”

The firm recalled that Nigeria was downgraded from Frontier to Unclassified status in September 2023 “due to significant and ongoing delays in the ability of international institutional investors to repatriate capital from Nigeria and execute foreign exchange transactions.”

However, the latest review acknowledges that conditions have improved materially under the Central Bank of Nigeria’s (CBN) reforms. “Market participants have reported that the aforementioned FX queues had been cleared and that international institutional investors are no longer experiencing any material delays in their ability to repatriate capital from Nigeria,” FTSE Russell stated.

It added that “as Nigeria now meets the five FTSE Quality of Markets criteria required for attaining Frontier Market status within the FTSE Equity Country Classification scheme, Nigeria is added to the Watch List for potential promotion from Unclassified to Frontier Market status.”

The decision follows extensive engagement with foreign portfolio investors who confirmed that repatriation bottlenecks have eased, and transparency in FX transactions has improved significantly since the CBN introduced reforms earlier in the year. These include the unification of exchange rates, the clearance of FX backlogs, and enhanced liquidity management in the Nigerian Foreign Exchange Market (NFEM).

The Watch List designation, FTSE noted, allows for “in-depth engagement” with Nigerian authorities and market participants ahead of a potential reclassification decision. “As a result of recommendations received from the FTSE Equity Country Classification Advisory Committee and the FTSE Russell Policy Advisory Board, the FTSE Russell Index Governance Board approved the addition of Nigeria to the FTSE Watch List for possible reclassification,” it added.

Market analysts interpret the decision as a strong endorsement of the CBN’s reform drive under Governor Olayemi Cardoso, who has prioritised restoring transparency and investor trust in the FX market following the volatility of 2023. Since early 2025, the apex bank has cleared significant FX obligations, improved trade settlement processes, and strengthened liquidity management tools, helping narrow the gap between the official and parallel market rates, rebuild reserves, and attract renewed foreign participation in Nigeria’s debt and equity markets.

Reacting to the development, Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Mr. Temi Popoola, described Nigeria’s inclusion on the FTSE Russell Watch List as a testament to coordinated policy reforms and renewed investor optimism.

“Nigeria’s inclusion on the FTSE Russell Watch List is more than recognition; it is a reaffirmation that policy consistency, transparency, and collaboration work.”

“The recent reforms in the foreign exchange market, fiscal policy, and ease of doing business have collectively helped restore investor confidence and address key structural constraints. At NGX Group, we have always viewed such progress as a springboard for deeper capital market evolution. Our focus remains on sustaining liquidity, expanding listings, and leveraging technology and sustainability to enhance the quality of investor participation, ensuring that Nigeria’s market strength becomes both visible and investable on the global stage.”

Observers have also commended the coordinated efforts of the Securities and Exchange Commission (SEC), the CBN, and NGX Group, noting that these institutions have strengthened the overall market ecosystem and aligned domestic market practices with international standards an effort that now positions Nigeria for possible reinstatement into the FTSE Frontier Market Index.

Once successfully reclassified, Nigeria could regain visibility among global frontier peers such as Kenya, Ghana, and Côte d’Ivoire, and attract substantial passive inflows from institutional funds benchmarked to FTSE indices reinforcing the country’s return to the global investment map.

Also, the Presidency yesterday reiterated that President Tinubu remains steadfast in the commitment to inclusive growth and implementing tangible measures to cushion effects of economic hardship nationwide.

In a public enlightenment post on his verified X handle, @SundayDareSD, presidential spokesperson, Chief Sunday Dare, enumerated a broad range of programmes and fiscal reforms driving the administration’s economic recovery and social protection agenda.

The Tinubu administration, he stated, “remains firmly focused on improving household welfare through targeted, verifiable interventions” designed to ensure that economic growth translates directly into improved living standards for citizens.

He named the Conditional Cash Transfer (CCT) programme as one of the flagship interventions, noting that it has been expanded to reach up to 15 million households nationwide, with over N297 billion disbursed since 2023 to poor and vulnerable families.

Beneficiaries, he said, are being enrolled through a verified digital process under the National Social Register.

The presidential media aide also highlighted the Renewed Hope Ward Development Programme (RH-WDEP) as “a major new initiative targeting all 8,809 electoral wards,” delivering micro-infrastructure, livelihood support, and social services directly at the community level.

According to him, the administration is consolidating the National Social Investment Programmes (NSIPs) — including N-Power, GEEP micro-loans (TraderMoni, MarketMoni, FarmerMoni), and the Home-Grown School Feeding Programme — to protect jobs, encourage small enterprise, and keep children in school.

Dare said the administration’s food security initiatives are aimed at curbing inflationary pressure on staple goods through the distribution of subsidised grains and fertilisers, mechanisation partnerships, and the revival of strategic food reserves.

He further mentioned the establishment of the Renewed Hope Infrastructure Fund (RHIF) to finance critical energy, road, and housing projects, which are expected to lower living costs and generate local employment.

The National Credit Guarantee Company (NCGC), he further explained, is expanding access to affordable credit for small businesses, women, and youth entrepreneurs through risk-sharing partnerships with commercial banks.

Dare acknowledged that reforms such as fuel subsidy removal, exchange rate unification, and fiscal redirection toward productive sectors have been challenging but described them as necessary choices to tackle the root causes of poverty rather than its symptoms.

“Even the World Bank itself has acknowledged that these reforms are already restoring macroeconomic stability and renewed growth momentum,” he added.

He stressed that while recovery is underway, the government’s focus remains on ensuring that “economic growth must be inclusive.”

This, he said, means translating macroeconomic stability into affordable food, quality jobs, and reliable infrastructure that directly improve the lives of Nigerians.

According to the presidential spokesperson, investments are being scaled up in agriculture, MSMEs, and power reliability.

He said the agricultural value chain expansion programme, gas-to-power initiatives, and skills development hubs are all designed to create jobs and reduce living costs.

“As these programmes mature, Nigerians should begin to feel more visible improvements in food prices, income, and purchasing power,” he assured.

Dare explained that the Tinubu government is not merely reviewing but strengthening and consolidating its social investment architecture through a unified, data-driven framework to enhance transparency, accountability, and digital targeting.

“This includes the scaling up of existing NSIP schemes, the ongoing expansion of the National Social Register, and the rollout of the Renewed Hope Ward Development Programme—ensuring no vulnerable community is left behind”.

He emphasised that President Tinubu’s government remains focused on empowering households, expanding opportunity, and building a resilient, inclusive economy where growth translates directly to improved living standards.

“The reforms are necessary. The direction is right. The foundation for a fairer and more prosperous Nigeria is being firmly laid,” the presidential aide said .

•Projects 139 million Nigerians living in poverty, 4.4% economic growth, up from 4.2% • FTSE Russell places Nigeria on watch list for possible return to Frontier Market Index •Presidency reassures

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NBA, Atiku, Senior Lawyers Push for Probe, Prosecution of Nnaji over Alleged Forgery

•Lawyers’ body warns against sweeping case under the carpet

•CISLAC wants ex-minister banned from public office for life

Chuks Okocha, Alex Enumah in Abuja, Wale Igbintade in Lagos and Blessing Ibunge in Port Harcourt

The Nigerian Bar Association (NBA), former Vice President Atiku Abubakar and senior lawyers yesterday urged the federal government to launch a thorough investigation into allegations of certificates’ forgery against the erstwhile Minister of Innovation, Science and Technology, Uche Nnaji, insisting that his resignation should not end the matter.

Maintaining that resignation was not an atonement for forgery before the law, they warned that failure to pursue the case could erode public and international trust in government and embolden others to commit similar offences.

Leading the call for the investigation and possible prosecution, President of NBA, Afam Osigwe (SAN) described the allegations as “grave” and urged law enforcement agencies to act without delay.

“Before you talk about prosecuting Mr. Geoffrey Nnaji over the allegation of forging the certificate, there should first be an investigation carried out by the requisite law enforcement agency — in this case, maybe the police. And if that investigation confirms the allegation against him, then he should be prosecuted. But the matter should not just be swept under the carpet like that,” Osigwe said.

He stressed the importance of a transparent process, saying they raised grave allegations against him that he presented forged certificates to make the president believe that he is a person who has a university degree and is qualified to be given such an employment.

“This should be investigated to find out if indeed he presented forged certificates to the President, and to the National Assembly to procure his clearance as a minister of the Federal Republic of Nigeria,” he stated.

Osigwe maintained that resignation does not absolve anyone of potential criminal liability.

“If the allegations are established — and indeed the allegation is very weighty, very strong, and should not just be trifled with — then he should be prosecuted. This will also serve as an example to persons who may want to hold public office and who think they can pull the wool over the face of Nigerians by obtaining such positions with forged credentials. The investigation should be transparent, and the findings of the investigation should be made public,” he said.

The NBA President also dismissed suggestions that the federal government should be praised for accepting Nnaji’s resignation.

“The allegations were weighty, and it’s even unfortunate that the minister took so long to resign or to offer a credible explanation. When a minister resigns, you don’t need to praise the government for accepting it. What is important is that his resignation gives more room for proper attention to be placed on the allegation so that he will be thoroughly investigated,” he added.

In the same vein, Atiku berated the Bola Tinubu-led federal government for allegedly deploying corruption and forgery as state policy. He also called for investigations into the alleged forgery of the certificates of the Minister of Innovation, Science and Technology, Nnaji who resigned on Tuesday over allegations of forging his certificates.

The former Vice President questioned why the former governor of Kaduna State, Mallam El Rufai would be disqualified by the DSS for security reasons and Nnaji who forged his academic certificates would pass the scrutiny of the DSS.

Atiku in a statement he personally signed, noted that the development has once again brought to light the deep moral crisis at the heart of the Tinubu administration.

‘’What should ordinarily be a matter of national shame is now being disguised as a voluntary resignation, an attempt to whitewash yet another scandal that typifies the forgery-ridden character of this government.

‘’Let the truth be told: Uche Nnaji should not have been allowed the courtesy of resignation. He should have been summarily dismissed and prosecuted for deceit and falsification. By permitting him to quietly exit through the backdoor, the Tinubu administration has once again demonstrated that it is an assembly of forgers, impostors, and morally bankrupt individuals masquerading as public servants.’

‘’What makes this even more embarrassing is that the same Department of State Services (DSS) which screened out Mallam Nasir el-Rufai for alleged ‘security concerns’ is the very agency that cleared this same character, Uche Nnaji.

‘’The DSS truly deserves our flowers for this national disgrace. Their failure of due diligence has made Nigeria an object of ridicule before the world and raises the question: how many more of such individuals are occupying sensitive positions in this government?

‘’This episode is not isolated. It is a reflection of a pattern, a rot that begins from the very top. The man who occupies the office of President, Bola Ahmed Tinubu, has for decades been enmeshed in controversies surrounding his identity, age, and academic records.

‘’From the Chicago State University saga to multiple contradictory claims under oath, the world has seen ample evidence that Nigeria today is led by a man who himself has been unable to credibly defend the authenticity of his own certificates.

‘’When a man of questionable identity leads a country, deception becomes the standard of governance. Tinubu’s personal history of alleged forgery and perjury has effectively institutionalised falsehood in public service. It is, therefore, unsurprising that his ministers and aides have taken after his example by falsifying documents, inflating records, and desecrating the moral foundation of our nation.

‘’I, therefore, call for an independent, transparent, and comprehensive investigation into the academic and professional credentials of all members of the Federal Executive Council (FEC), beginning with President Bola Ahmed Tinubu himself. Nigerians deserve to know the truth about those who preside over their lives and resources.

‘’Until this cleansing is done, Nigeria will continue to sink deeper into moral decay, economic ruin, and global embarrassment. The time has come to rescue our country from the grip of deceit and restore integrity to public life,’’ he stated

For John Baiyeshea (SAN), in order to set a stage for prosecution, the police must now carry out an investigation and gather the evidence required to prosecute the former minister for forgery.

According to Baiyeshea, it is the Police that has the constitutional responsibility to investigate crime, and if there is need for prosecution, the constitutional place to go is the appropriate court designation for the purpose.

“Finally, my opinion is that if a prima facie case is established by police after investigation, the ex minister ought to be prosecuted. We cannot continue to cover up crime and criminals. Our society can not continue like this. We can never make progress by pampering criminals.

“That’s why corruption is so endemic and pandemic in Nigeria because those who steal our commonwealth are treated with kid gloves and are celebrated as heroes. They are bigger than the law and the entire legal system quite sadly”, he added.

Also, Moses Ebute, (SAN) and former Chairman of the Abuja branch of the NBA, stated that it is one thing to resign and another for the allegations leveled against him to be true. Ebute wondered whether the minister resigned to enable investigation into the allegations or that the allegations were true.

“If the former is the case then he ought to be investigated and if it is the latter, he ought to be prosecuted”, he said, “This will serve as a deterrent to others who are very desperate to occupy public office”.

The senior lawyer stressed that Nigeria cannot continue like this as a nation where those who are truly educated cannot get employment in the public services or occupy public offices as well. “Enough is enough”, Ebute stated.

Echoing similar sentiments, human rights lawyer and Senior Advocate of Nigeria, Ebun Olu-Adegboruwa, said resignation should not be treated as a ‘get-out-of-jail-free card.’

“Lately, public officers holding very important positions have been enmeshed in various controversies on their qualifications. Many officers serving in this current administration have unresolved issues hanging on their credentials and qualifications.

“It’s therefore not enough for public officers who have been accused of certificate forgery or academic fraud to announce their resignations and run away with the crime committed. In this case, the ex-minister should be handed over to the security agencies for investigation and prosecution, if found culpable. When people commit offences and they are patted on their ugly backs, then we encourage fraud and give the impression that crime pays,” he said.

Reacting to the resignation of the science minister, Mr. Dayo Akinlaja (SAN), pointed out that it is the ideal thing to do, as it would pave the way for him to clear himself of the allegations. “It is instructive that the minister has resigned”, Akinlaja said, adding that the resignation does not signify the end of the controversy surrounding the issue of the alleged UNN and NYSC certificates.

He said: “The way it is, the resignation is capable of two different interpretations. It may be interpreted as a demonstration of nobility and integrity. This may be so because it is arguable that it is an indication that the man is sure of his innocence and would not want to give the impression that he is using public office to shield himself.”

The senior lawyer however noted that the resignation on the other hand, may be interpreted as admission of guilt.

“Therefore, it becomes imperative for the matter to be taken a notch further with a view to putting the matter beyond mere conjecture or peradventure. The gentleman himself may even elect to have the matter duly investigated by the authorities for purposes of showing to the whole world that he is a man of untainted honour and integrity”, Akinlaja added.

However, for another senior lawyer, Mr George Ibrahim (SAN), the matter should just be rested following the resignation of the minister.

Besides, Ibrahim expressed belief that the plight of Nnaji has a political undertone because the same university had earlier cleared him of the said certificate forgery allegations.

“While I do not exonerate him of any wrong doing, I think it is enough that he has resigned as a mark of integrity. I think the whole thing is political judging from the fact that the university had since the year 2023 confirmed that he graduated from the university by the Registrar who deals with record keeping. The latest twist to me is baffling and leaves more to be desired”, Ibrahim stated.

For human rights lawyer, Mr Deji Adeyanju, who aligned himself with calls for the prosecution of the minister to serve as deterrent to others, he urged Tinubu administration not to sweep the matter under the carpet.

For its part, the African Democratic Congress (ADC) has said the involvement of a minister in the APC government in certificate forgery is merely indicative and actually confirms the party as a nest of certificate forgers

In a statement signed by Mallam Bolaji Abdullahi, the party’s National Publicity Secretary, the ADC described the President’s action as weak and disappointing, saying that a government that claims to uphold integrity cannot afford to treat criminal conduct like a personal matter.

ADC said that it believes that the decision of President Tinubu to merely accept the offending former minister’s resignation instead of taking a tougher stance gives the unfortunate impression that the President is sympathetic to such behaviour.

According to Abdullahi: ‘’We are equally appalled that the minister was allowed to quietly resign after publicly admitting that the certificates he presented were not issued by the relevant institutions. This sends the wrong message to Nigerians, especially the youth, that dishonesty carries no consequence in public life.

‘’It is imperative to reiterate that both the University of Nigeria, Nsukka (UNN), and the National Youth Service Corps (NYSC) officially disowned the certificates Mr. Nnaji presented for his ministerial appointment, while court filings by the Minister himself confirmed that UNN never awarded him any degree certificate.

‘’In this regard, by simply accepting his resignation, President Tinubu has shown that for whatever reason, his administration is willing to let corrupt officials off the hook easily and he is not willing to set example for those who serve under him that dishonesty has serious consequences.’’

The party said that as mentioned in their initial statement on the subject, Nigerians are aware that this is not an isolated incident but part of a troubling pattern that has defined the APC government since its inception.

‘’From one certificate scandal to another, Nigerians have watched the APC turn dishonesty into an identity, offering sanctuary to people with questionable integrity. Indeed, if the President cannot act firmly in a case that was this clear, how can Nigerians trust his government to fight corruption in any other form?

‘’As a party, we therefore call on relevant law enforcement agencies to pursue an independent investigation into the matter, noting that resignation does not erase criminal liability. Forgery is not a private offence, it is a crime. If found guilty, Mr. Nnaji should be prosecuted in accordance with the law. Anything less will amount to a cover-up.’’, the spokesman of ADC said.

Besides, a Rivers State based activist, Chetam Nwala, has called on Tinubu to immediately set up an independent investigative panel to examine alleged certificate forgery of the former minister.

Nwala who is also a Pan-Africanist said if found culpable, Nnaji and everyone involved should be arrested and prosecuted without delay.

In a statement he personally signed and made available to journalists in Port Harcourt, yesterday, Nwala “The resignation of Hon Geoffrey Uche Nnaji following revelations surrounding his certificate scandal is a stark reminder of how deeply compromised and decayed Nigeria’s institutional integrity has become”.

He said the saga exposed the failure of the oversight systems and the inability of critical agencies like the Department of State Services (DSS) to conduct thorough background checks on individuals entrusted with public office, saying that what should have been a straightforward verification process has turned into national embarrassment.

“Hon. Nnaji’s case reflects a broader pattern of compromise by institutions that are meant to uphold due diligence and accountability. We have reached a point where mediocrity and fraud thrive unchecked, while integrity is continually undermined by political interests. This has brought shame and ridicule to our nation.

“This issue mirrors the long-standing certificate controversy surrounding President Bola Tinubu, an episode that has yet to be credibly resolved. Nigeria cannot continue on a path where its leaders are perpetually entangled in allegations of academic fraud. This is a stain on our national identity and global reputation,”Nwala added.

He however “called on the President to immediately set up an independent investigative panel to examine the matter comprehensively, stressing that if found culpable, Nnaji and everyone involved must be arrested and prosecuted without delay.

Meanwhile, the Civil Society Legislative Advocacy Centre (CISLAC) has called for a life ban on Nnaji from holding public office, even as HallowMace Foundation Africa called on the Department of State Security (DSS) and the National Assembly (NASS) to apologise to Nigerians for the ‘international embarrassment’ arising from their institutional failures.

In an interview on Wednesday evening, the Executive Director of CISLAC, Auwal Ibrahim Musa (Rafsanjani), said that Nnaji was recalcitrant, hence should never be allowed to hold public office in his lifetime.

“He did not resign of his own volition. He was forced by the public, the media, and the civil society to resign. He didn’t resign as an honourable man. He actually went to court to stop the university from releasing his record. In fact, we should ban him from public office for life,” he stated.

Also, in a statement jointly signed by its Executive Director, Anderson Osiebe, and its Head of Public Communications, Oguh Hyginus, HallowMace Foundation Africa maintained that the Nigerian public deserved transparent, accountable institutions that serve as effective gatekeepers against fraudulent public officers.

“The leadership of both screening institutions should issue public apologies to the Nigerian people for this grave failure of due diligence and outline concrete steps being taken to prevent recurrences.

“If the National Assembly and DSS, with their extensive resources and mandate, could not authenticate a certificate from a Nigerian institution, what confidence can citizens have in their ability to vet appointees for critical national positions?” the organisation said.

•Lawyers’ body warns against sweeping case under the carpet •CISLAC wants ex-minister banned from public office for life Chuks Okocha, Alex Enumah in Abuja, Wale Igbintade in Lagos and Blessing

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LCCI: Non-passage of NAIDP into Law Slowing Progress, Weakening Confidence in Nigeria’s Automobile Industry

Dike Onwuamaeze

The Lagos Chamber of Commerce and Industry (LCCI) has stated that the non-passage of the National Automotive Industry Development Plan (NAIDP) into law has slowed progress and weakened investor confidence in the Nigerian automobile manufacturing industry.

This statement was made yesterday by the President of LCCI, Mr. Gabriel Idahosa, in his address during the chamber’s Automobile and Allied Services Group Symposium with the theme, “The Impact of Non-Passage of the NAIDP Policy into Law on the Automobile Industry,” which spoke directly to the challenges and opportunities shaping our nation’s industrial future.

Idahosa said without legal backing, the “automobile industry faces uncertainty, inconsistent implementation, and policy reversals that discourage both local and foreign investors.

“The result has been reduced capital inflows, stalled assembly operations, and a continued reliance on imported vehicles that drain our foreign exchange reserves.”

He said the NAIDP was designed as a strategic blueprint to transform Nigeria’s automobile sector with clear objectives of promoting local manufacturing, attracting investment, creating jobs, encouraging technology transfer and gradually reducing Nigeria’s dependence on imported vehicles and components.

He added: “At its core, NAIDP aims to build a sustainable automotive value chain that supports inclusive growth and competitiveness.

“Unfortunately, the non-passage of this crucial policy into law has slowed progress and weakened investor confidence.

“Without legal backing, the industry faces uncertainty, inconsistent implementation, and policy reversals that discourage both local and foreign investors.

“The result has been reduced capital inflows, stalled assembly operations, and a continued reliance on imported vehicles that drain our foreign exchange reserves.”

Idahosa said the consequences of the non-passage of NAIDP policy into law included the non-realisation of the industry’s capacity to generate thousands of potential jobs, limited local content growth and the fact that, “Nigeria has lost ground to regional competitors, such as South Africa and Morocco, which have leveraged clear automotive laws to attract global Original Equipment Manufacturers (OEMs).”

He said: “The absence of a binding framework also limits backward integration, meaning many ‘assembled’ vehicles still rely heavily on imported parts.

“This undermines the policy’s goal of stimulating our domestic supply chain and technical capacity.”

He added that the uncertainty surrounding the policy has also led to regulatory fragmentation in the automobile industrial.

He said operators in the industry are currently facing overlapping mandates, arbitrary tariffs, and conflicting guidelines from different agencies.

“Without legal clarity, the industry cannot plan long-term or make the strategic investments necessary to build modern plants, train engineers, or support local innovation,” he added.

Idahosa, however, said opportunities exist in the industrial sub-sector despite these setbacks due to Nigeria’s strong domestic market, robust entrepreneurial base and young, energetic workforce.

He said: “With the right legislative action, we can reignite investor interest and position Nigeria as the automotive hub of West Africa.

“The global shift toward electric vehicles and clean technologies also presents an opportunity for Nigeria to leapfrog into modern, sustainable vehicle production if the right incentives are legislated now.”

He proposed that the LCCI, allied associations must jointly engage with the National Assembly and the executive arm of the government to expedite the passage of the NAIDP in order to move the industry forward.

“Furthermore, policy refinement and stakeholder alignment should be considered to ensure the plan is reviewed to incorporate realistic incentives, balanced tariffs, and achievable local content targets.

“In addition to phased implementation, the government can introduce interim executive measures to sustain momentum while awaiting the full implementation of legislation.

“Also, institutional coordination can be established through the creation of a dedicated Automotive Development Commission to ensure transparency, monitoring, and compliance,” he said.

Idahosa remarked that the cost of inaction is far greater than the effort required to act.

“Every delay prolongs unemployment, deepens Nigeria’s import dependence, and weakens the country’s industrial base.

“The passage of NAIDP into law is not merely a policy milestone; it is an economic imperative. It is the foundation upon which we can build a competitive, innovative, and job-creating automotive industry,” he said.

According to him, in the face of rising uncertainties and crises surrounding tariffs globally, “Nigeria, with a massive population of about 230 million, cannot afford to depend on imports to meet its mobility needs.

“We also urge the government to demonstrate a greater commitment to driving the adoption of e-mobility assets, such as the CNG initiative and electric vehicle possibilities.

“If we act decisively, Nigeria can reclaim its place as a manufacturing leader, create thousands of jobs, and ensure a sustainable industrial base for generations to come.

“The time to act is now,” Idahosa said.

Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has stated that the non-passage of the National Automotive Industry Development Plan (NAIDP) into law has slowed progress and weakened

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NUPRC: Nigeria Attracted over $4.9bn in Non-Associated Gas Investments in Four Years

•Unlocks 9,790 billion standard cubic feet of reserves

•Nation’s gas stock to last about 92.7 years

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday revealed that since the enactment of the Petroleum Industry Act (PIA), it has approved over 25 Non-Associated Gas (NAG) Field Development Plans (FDPs), attracting over $4.9 billion in capital expenditure (Capex) investment.

Besides, the upstream regulator stated that its activities unlocked nearly 9,790 billion standard cubic feet (BSCF) of reserves and 3.54 BSCF/D of gas output.

It stated that Nigeria’s ambition to become Africa’s gas powerhouse received a major boost with the unveiling of a bold regulatory roadmap, aimed at unlocking over 55 trillion cubic feet (TCF) of uncommitted gas reserves and attracting billions of dollars in new investments into the country’s gas value chain.

A statement in Abuja by the Head, Media and Strategic Communication, NUPRC, Eniola Akinkuotu, stated that the Commission Chief Executive (CCE), Gbenga Komolafe, made these comments at the 3rd Gas Investment Forum held in Lagos.

Represented by the Executive Commissioner, Development and Production, Enorense Amadasu, Komolafe outlined the Commission’s strategic focus on driving gas development, monetisation, and infrastructure expansion to secure Nigeria’s energy future and support economic transformation.

Komolafe stated that Nigeria’s proven gas reserves currently stand at 210.54 trillion cubic feet (TCF) comprising 109.51 TCF of NAG and 101.03 TCF of Associated Gas (AG).

He said out of this, about 55 TCF representing 26 per cent of total gas reserves remains uncommitted to existing or planned monetisation projects, signalling a massive investment opportunity for both domestic and international investors.

Komolafe noted that with an annual average daily gas production of 6.99 billion standard cubic feet (BSCF/D) in 2024, Nigeria’s Reserves Replacement Ratio (RRR) stands at 1.56, while the Reserves Life Index (RLI) is about 92.7 years an indication of long-term sustainability for investors in the country’s gas sector.

The national gas reserves, he said, grew from 208.83 TCF in 2023 to 210.54 TCF in 2025, while gas production rose from 6.91 BSCF/D to 7.61 BSCF/D, reflecting steady growth across the value chain. The domestic market currently accounts for about 28 per cent of total gas utilisation, while exports via LNG and WAGP take up 35 per cent, and field use including gas lift and reinjection represents 29 per cent.

On policy reforms and regulatory milestones, Komolafe enumerated several regulatory instruments that have shaped Nigeria’s gas development journey, including the Associated Gas Re-injection Act (1979), National Gas Policy (2008), Flare Gas (Prevention of Waste and Pollution) Regulations (2018), Decade of Gas Initiative, and the landmark Petroleum Industry Act (PIA) 2021.

He said recent instruments such as the Domestic Gas Delivery Obligation Regulations (2022), the Gas Flaring, Venting and Methane Emissions Regulations (2023), and the Oil and Gas Companies (Tax Incentives) Order (2024) further consolidate the Commission’s pro-investment posture.

Since the enactment of the PIA, he said the Commission has approved over 25 NAG Field Development Plans, unlocking nearly 9,790 BSCF of reserves, 3.54 BSCF/D of gas, and attracting over 4.9 billion dollars in CAPEX investments.

He further disclosed that the Commission was actively facilitating regulatory approvals and negotiations for upstream gas supply to major projects such as NLNG Train 7, the Ajaokuta–Kaduna–Kano (AKK) Pipeline, and the Brass Fertilizer and Petrochemical Project.

Komolafe also observed that NUPRC was currently monitoring 19 active gas development projects, comprising 10 production facilities and 9 pipeline projects, with a combined capacity of 3.55 BSCF/D. About 88 per cent of these projects, he said, are in the engineering phase, while 12 per cent have progressed to construction or fabrication.

He explained that 86 per cent of the new gas production projects are targeted at the export market, particularly feed gas supply to the Nigerian LNG, while 23 per cent (142 MMSCFD) were directed toward the domestic market.

Komolafe emphasised that the NUPRC’s regulatory roadmap aligns with the federal government’s National Gas Policy and Energy Transition Plan, which prioritise decarbonisation, clean energy adoption, and inclusive economic growth.

According to him, the Commission is intensifying efforts to attract new investments by eliminating entry barriers through the ‘drill or drop’ provision in the PIA, driving full implementation of the Decade of Gas Initiative.

Besides, he stated that the NUPRC was facilitating access to fiscal incentives, promoting cluster and nodal gas infrastructure development, and organising a gas production ramp-up strategy workshop in Q4, 2025. He reaffirmed that Nigeria stands at a pivotal juncture in its energy journey, one that demands innovation, collaboration, and sustainable investment.

•Unlocks 9,790 billion standard cubic feet of reserves •Nation’s gas stock to last about 92.7 years Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Nigerian Upstream Petroleum Regulatory

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NCC Moves to Improve Investments in Broadband Connectivity, Safeguard Telecoms Infrastructure

Emma Okonji

Nigerian Communications Commission (NCC) has stressed the need for improved investment in broadband connectivity, and safeguarding critical national infrastructure in the telecoms sector. Executive Vice Chairman of NCC, Dr. Aminu Maida, stated this during a business roundtable held yesterday at NCC Digital Economy Complex, Mbora, in Abuja, themed, “Right of Way and Protection of Broadband Infrastructure – The Road to Success in Broadband Investment and Connectivity.”

Speaking on the importance of connectivity, Maida said, “When we talk about connectivity, our minds go to faster downloads or smoother video calls. But the scope and impact extend far beyond these. Connectivity today equals economic inclusion, productivity, and national resilience. As of August 2025, Nigeria had achieved a broadband penetration rate of roughly 48.81 per cent with over 140 million people having internet access. The ICT/telecom sector is already one of the leading contributors to Nigeria’s GDP.”

According to him, for individuals and small businesses, broadband access turns local markets into national and global ones.

He said it transformed opportunities for graduates from local to global digital earning possibilities; transforms a state economy from being dependent on traditional revenue streams to fostering an innovation-driven ecosystem.

Citing African countries that had invested in broadband connectivity, Maida said Rwanda had positioned itself as an African hub of digital services by investing heavily in backbone fibre and digital governance, adding that India’s outsourcing and IT services industry is worth over $240 billion annually, enabled largely by early and consistent investment in digital infrastructure and human capacity.

“With over 200 million people and a median age of 18, Nigeria can not only follow those trajectories but surpass them—if we equip our youth with reliable, aﬀordable, high- speed connectivity,” Maida said.

He said through the sustained advocacy of the commission, and eﬀorts of the Oﬀice of the National Security Adviser (ONSA) as well as the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), the Critical National Information Infrastructure (CNII) Presidential Order was signed by President Bola Tinubu in June 2024.

CNII Presidential Order guarantees proactive protection of Nigeria’s telecommunications infrastructure by providing the executive backing for law enforcement agents to deal with vandalism, theft and denial of service to the assets, while ensuring continued network service provision by operators.

Maida explained that working closely with the Oﬀice of the National Security Adviser, NCC had been tasked with ensuring the full operationalisation of the mandate in the telecommunications sector.

He said, “To achieve the mandate, NCC has set up a Telecommunications Industry Working Group to coordinate its operationalisation. Our first task has been to ensure strict compliance with baseline standards for site security, maintenance, and access control.

“We have also launched a broad public awareness drive, including TV and radio jingles, social media campaigns, and community engagement initiatives, to mobilise citizens in protecting telecom infrastructure.”

He said NCC will yesterday in Abuja launch two strategic tools: The Ease of Doing Business Portal, a one-stop-shop that provides information and link to the 36 states and the Federal Capital Territory (FCT); and The Nigeria Digital Connectivity Index (NDCI), a framework to measure and publish annually each state’s digital readiness and competitiveness, creating a transparent scorecard to drive accountability.

Emma Okonji Nigerian Communications Commission (NCC) has stressed the need for improved investment in broadband connectivity, and safeguarding critical national infrastructure in the telecoms sector. Executive Vice Chairman of NCC,

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NCDMB Recommits to Deepening Local Content

•Unveils compliance certificate system in Rivers

Blessing Ibunge in Port Harcourt

Nigerian Content Development and Monitoring Board (NCDMB) has unveiled its compliance certificate system in Port Harcourt, the Rivers State capital.

The board reaffirmed its commitment to deepening local content through certification, compliance and financial support.

NCDMB Executive Secretary, Felix Ogbe, restated the commitment at a stakeholders sensitisation and engagement forum, organised in collaboration with Bank of Industry and the Nigerian Export-Import Bank, in Port Harcourt, yesterday.

Announcing the introduction of a new Nigerian Content Fund Clearance Certificate (NCFCC), at the event, Ogbe described the certificate as a verifiable and transparent instrument that served as tangible proof of compliance by relating companies.

Represented by Director, Finance and Personnel Management, NCDMB, Mr. Osa Uchendu, Ogbe said, “Today’s sensitisation programme is an open conversation between us as stakeholders. It provides us an opportunity to listen, to present and address critical issues and present better clarity on the interventions and benefits of the Nigerian Content Intervention Fund.”

He stated that over the years, NCDMB had remained steadfast in promoting and ensuring the Nigerian oil and gas intervention funds were taken good care of.

Ogbe stated that for compliance to be ready, it must be practical and mutually beneficial to all participants in the industry.

“In line with this, we are introducing the Nigerian Content Fund Clearance Certificate (NCFCC), a verifiable and transparent instrument that serves as tangible prove of compliance by relating companies,” he said.

He explained that the innovation reinforced the board’s commitment to accountability and trust in the implementation of local content across the oil and gas value chain.

“Beyond compliance, we also recognize the pivotal role of financing in different local contents,” he added.

Speaking at the event, Executive Director, Large Enterprises, Bank of Industry, Dr Ifeoma Uzokpala, said the stakeholder’s engagement reflected the three organisations’ vision and shared commitment to strengthen Nigeria’s oil and gas value chain.

Uzokpala said, “This stakeholders’ engagement us important and we realised that it the dialogue will help us deepen our understanding better on how to service the oil and gas industry and make the best of it for Nigeria and the world.

“The gathering reflects our vision and shared commitment to strengthen Nigeria’s oil and gas value chain by not only providing finances, but also deepening engagements with our customers and partners.”

Head, Specialised Business Development, Nigeria Export-Import Bank, Mohammed Awami, said the event provided a vital platform for dialogue and shared commitment towards advancing Nigeria’s industrial growth and economic diversification agenda.

Awami stated, “This forum represents a vital platform for dialogue and shared commitment towards advancing Nigeria’s industrial growth and economic diversification agenda.

“At NEXIM Bank, we recognise the pivotal role NCDMB chose to play in driving local content development, building indigenous capacities and promoting value addition within Nigeria’s oil and gas sector and linkages to other activities.”

•Unveils compliance certificate system in Rivers Blessing Ibunge in Port Harcourt Nigerian Content Development and Monitoring Board (NCDMB) has unveiled its compliance certificate system in Port Harcourt, the Rivers State

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Amid High Cost of Funds, NEXIM Bank Seeks to Enhance SMEs’ Access to Cheap Financing Options, Others

James Emejo in Abuja

Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, yesterday, said the bank was ready to provide more affordable financing options to Small and Medium Enterprises (SMEs) in the country.

Bello said one of the biggest challenges SMEs faced was the high cost of funds, as interest rates from commercial banks peaked at 30 per cent. He said this was “too high for small businesses to sustain”.

Bello spoke at the Abuja edition of the SME Export Finance Sensitisation Forum (EXCEL Programme), jointly organised by NEXIM and GIZ Nigeria under the SEDIN programme.

He said alongside other Development Finance Institutions (DFIs), including Bank of Industry (BoI) and Development Bank of Nigeria (DBN), NEXIM had worked to reduce the cost of finance and provide refinancing opportunities for MSMEs.

Bello said the aim was to help them become more competitive, sustainable, and capable of scaling their operations, adding that as a development finance institution, “our role is to help them grow to the level where they can attract financing from multiple sources”.

Bello explained, “One of the major issues affecting MSMEs is access to finance. Others include infrastructural deficits, regulatory challenges, and related constraints.

“Of course, we cannot address all these challenges at once. However, one critical factor is the capacity of the business itself—the capacity of the entrepreneur, the management, and the enterprise as a whole.

“That is why sensitisation programmes like this are important. Their goal is to help build the capacity of MSMEs. It’s not that banks are unwilling to lend to MSMEs; rather, banks often observe that many MSMEs lack the necessary capacity to manage credit effectively.”

He said through such sensitisation efforts, the bank aimed to strengthen MSMEs to become eligible to access finance—whether from development finance institutions, commercial banks, or even equity investors.

He added, “Sometimes, businesses want to expand or scale up but lack the structure or platform to attract equity investment. Sensitisation programmes like this help entrepreneurs understand the right processes, documentation, and structures required to make their businesses bankable and investment-ready.

“As I’ve said before, no single organization or agency can do this alone. However, when all stakeholders play their part at various levels, we can collectively strengthen and scale the MSME sector.

“So, beyond sensitisation, what we are really talking about here is capacity building.”

The NEXIM MD said Micro, MSMEs remained the backbone of Nigeria’s economy, with over 41 million operators, accounting for 96.9 per cent of all registered businesses, contributing 48 per cent to GDP, and employing 87.9 per cent of the workforce.

However, he stated that despite the immense contribution, 55 per cent of MSMEs faced challenges in accessing finance, stressing that a significant percentage of the entrepreneurs failed within their first five years—largely due to limited access to finance, infrastructure deficits, high costs of doing business, and regulatory burdens.

He added, “This is precisely why the EXCEL Programme was conceived in partnership with GIZ. Globally, export financing has proven to be a powerful driver of economic growth.

“However, according to the World Bank, exports of goods and services contribute only about 7.64 per cent to Nigeria’s GDP. This figure underscores the huge untapped potential of Nigeria’s MSME export sector, especially considering its size and diversity.

“It also highlights the transformative potential of programmes like EXCEL in unlocking the full value of our MSME ecosystem.

At NEXIM Bank, we are proud to introduce financing solutions such as the SME Export Facility (SMEEF) and the Women & Youth Export Facility (WAYEF), alongside our NEXA digital platform, which provides MSMEs with access to digital export and financial management services.

“These initiatives are designed to make export financing more accessible, transparent, and impactful.

“We are also preparing to commence the onboarding of our SME clients onto the African Trade Gateway (ATG)—a platform aimed at enhancing market access, improving payment systems, and deepening intra-African trade.”

James Emejo in Abuja Managing Director/Chief Executive, Nigerian Export-Import Bank (NEXIM), Mr. Abubakar Abba Bello, yesterday, said the bank was ready to provide more affordable financing options to Small and