Tuggar to Represent Nigeria at WEF’s 2025 Sustainable Development Impact Meeting

Dike Onwuamaeze

The World Economic Forum (WEF) has announced that Nigeria’s Minister for Foreign Affairs, Mr. Yusuf Maitama Tuggar, would be among over 1,000 leaders and experts from business, government, international organisations and civil society that will come together at its “Sustainable Development Impact Meetings 2025 to Foster Collaboration on Shared Challenges.”

The meeting, which will take place from September 22 to 26 in New York City, United States of America, will strengthen collaboration and renew action on sustainability and inclusive growth.

It will also provide dialogues on accelerating progress in economic growth, responsible technology and sustainable development.

WEF said the meetings, taking place on the margins of the 80th United Nations General Assembly and Global Goals Week, would serve to accelerate renewed progress on the United Nations Sustainable Development Goals.

It described the meeting as “a pivotal moment for the global economy, one marked by profound transformations – from slow growth to complex trade dynamics to unprecedented speed on technological advancements – the Forum will convene its long-standing communities of purpose to help make progress on shared priorities.”

WEF said the multilateral system is in flux, with the future of multilateralism uncertain and the latest data suggesting that only 17.per cent of the SDGs are on track to be achieved by 2030.

It said: “Nearly half are showing minimal or moderate progress and over one third have stalled or even regressed.

“As the world faces increasing numerous crises from geopolitics to economic growth within our planetary boundaries, SDIM25 aims to facilitate action by convening leaders from across sectors and regions to drive inclusive and sustainable growth at speed and scale.” 

WEF also said that in the context of geoeconomic uncertainty, the meetings will also serve as a critical platform for leaders to engage in dialogues on improving outcomes for people, planet and economies.

“With geopolitical tensions intensifying and sustainability at a crossroads, this moment is about turning shared challenges into shared solutions by strengthening public-private cooperation and shaping an inclusive global economy,” said President and CEO, World Economic Forum, Borge Brende.

He added that “in a year where the need for cooperation is matched only by the difficulty of achieving it, SDIM25 provides a unique space for cross-pollination in addressing the most pressing developmental challenges of our time.”

WEF said that 70 top government officials, including 22 leaders from international organizations and over 500 decision-makers from business will participate in person and engage in carefully curated discussions on new ways to accelerate sustainable development.

The programme will address the most urgent global challenges, such as the humanitarian crises, inclusive economic growth and climate action. 

Seven sessions will be livestreamed here to share insights with the media and the public. 

The meetings will also see the release of new insights, including the Chief Economists Outlook and reports on carbon capture and utilization, the economic case for tackling climate and health challenges and the potential of digital trade practices to reduce carbon emissions. 

The post Tuggar to Represent Nigeria at WEF’s 2025 Sustainable Development Impact Meeting appeared first on THISDAYLIVE.

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    Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend

    Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend

    Kayode Tokede

    Zenith Bank Plc has released its Group financial results for the half year ending June 2025, posting an impressive profit before tax of N625.629 billion. Following this robust performance, the Board has approved an interim dividend of N1.25 per share, a 25% increase over the N1.00 paid in the first half of 2024, maintaining the Bank’s position as a leading dividend-paying Bank and reinforcing its longstanding commitment to rewarding its esteemed shareholders.

    The substantial dividend payout reflects exceptional underlying performance. Despite higher provisioning requirements from the industry-wide exit of the CBN forbearance regime, the Bank recorded a robust 20% year-on-year increase in gross earnings, rising from N2.1 trillion to N2.5 trillion in H1 2025. Interest income drove this performance with an impressive 60% growth, climbing from N1.1 trillion to N1.8 trillion. The Bank achieved this impressive increase in interest income through strategic repricing of risk assets and effective treasury management.

    Commenting on the H1 2025 results, Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, noted that Zenith Bank’s performance reaffirms the creativity and innovation of our unicorn workforce in a dynamic operating environment. “Despite the huge provisioning requirements as the industry exits the CBN forbearance regime, we’ve seen substantial improvement in our asset quality. Our balance sheet remains robust with adequate capital buffers, positioning us well to seize opportunities across our key markets,” she said.

    Building on this strong foundation, the GMD/CEO indicated that the Bank expects to accelerate its growth trajectory in the second half of the year following the successful exit from CBN forbearance. She assured shareholders that the robust performance, combined with the improved asset quality, positions the Bank to deliver exceptional returns, with expectations of a quantum year-end dividend for 2025. “Our shareholders can look forward to continued value creation as we leverage emerging opportunities and maintain our strategic growth with strong corporate governance culture,” she noted, highlighting the Bank’s track record of improving dividend payments even during challenging periods.

    Looking beyond H1 2025, she reinforced her optimistic outlook: “We’re on a solid growth path that we expect to maintain through the rest of 2025 and into 2026. Our focus remains on innovation, digital transformation, and developing solutions that address our clients’ changing needs. With improving market conditions, we’re well placed to sustain this momentum whilst maintaining responsible leadership and delivering exceptional value to all our stakeholders.”

    The Bank’s financial performance indicates strong fundamentals in a transitioning macroeconomic environment, with profit after tax reaching N532 billion and earnings per share standing at N12.95 for the period under review. Net interest income demonstrated exceptional growth, surging 90% year-on-year from N715 billion to an impressive N1.4 trillion, whilst non-interest income contributed N613 billion in H1 2025.

    The Bank’s total assets expanded to N31 trillion in June 2025, representing steady growth from N30 trillion in December 2024, underpinned by a robust and well-structured balance sheet. Customer confidence remained strong, with deposits growing by 7% from N22 trillion to N23 trillion in June 2025. The loan book stood at N10.2 trillion in June 2025 against N11 trillion in December 2024., reflecting the Bank’s prudent risk management approach.

    The Bank delivered strong returns with ROAE at 24.8% and ROAA at 3.5% as at June 2025. The cost-to-income ratio stood at 48.2%, reflecting necessary provisioning for regulatory compliance and the impact of inflationary pressures. Asset quality improved significantly, with the NPL ratio dropping to 3.1% in June 2025 from 4.7% in December 2024. The Bank maintains a fortress balance sheet with capital adequacy at 26% and liquidity ratio at 69%, both comfortably exceeding regulatory requirements.

    In a statement to the investing community, the Bank emphasised that its H1 2025 performance aligns with global sustainability objectives, demonstrating its commitment to integrating ESG principles into both products and operations. The Bank has leveraged its financial strength to create lasting impact, particularly through initiatives supporting SMEs and women entrepreneurs with capital access, training, mentoring and market opportunities. The loan portfolio incorporates multi-tiered processes to ensure ESG compliance, whilst the adoption of cleaner energy sources across business operations reflects the Bank’s responsible banking philosophy and environmental commitments.

    The post Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend appeared first on THISDAYLIVE.

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    Kayode Tokede Zenith Bank Plc has released its Group financial results for the half year ending June 2025, posting an impressive profit before tax of N625.629 billion. Following this robust
    The post Zenith Bank’s Gross Earnings Hit N2.5 Trillion In H1 2025, Declares N1.25 Interim Dividend appeared first on THISDAYLIVE.

    NEC Moves to Boost Food Security Nationwide, Endorses NASENI’s Solar Irrigation Pumps

    NEC Moves to Boost Food Security Nationwide, Endorses NASENI’s Solar Irrigation Pumps

    •Seeks President’s approval for mass production 

    •Shettima says it’s a proof that Nigerian ingenuity can compete globally 

    •Council fails to deliberate on state police

    Deji Elumoye in Abuja

    In a move to boost food security in Nigeria, National Economic Council (NEC) has endorsed solar-powered irrigation pumps produced by National Agency for Science and Engineering Infrastructure (NASENI) for national rollout ahead of the 2025 dry season farming.

    The NASENI solar irrigation pump, produced to replace the petrol-powered pump, is aimed at reinforcing the country’s food security strategy, as it was expected to increase agricultural productivity, lower operational cost, yield higher incomes, and improve livelihoods.

    Rising from its 152nd monthly meeting held at Council Chambers, State House, Abuja, and chaired by Vice President Kashim Shettima on Thursday, NEC endorsed the use of the solar irrigation pump and resolved to formally notify President Bola Tinubu for his approval.

    In anticipation of the president’s approval and the need to provide funding for NASENI, the council also mandated Minister of Budget and Economic Planning, Senator Abubakar Bagudu, to work out modalities of funding to enable NASENI to mass produce the solar irrigation pumps and distribute in time for the 2025 dry season.

    Shettima had earlier, in his speech, said the scaled-up solar irrigation pumps was an indication that Nigerians could compete at the global level with their creativity.

    He said, “We must also face the challenge of innovation in agriculture. NASENI’s scaled-up solar irrigation pumps are ready for national rollout ahead of the 2025 dry season. These pumps replace expensive petrol-powered systems, lower farmers’ costs, expand dry-season cultivation, and even provide backup power for households.

    “Their advanced features, including GPS tracking, mobile app dashboards, usage monitoring, and pay-as-you-go integration, prove that Nigerian ingenuity can compete with the world.”

    According to the vice president, the innovation by NASENI “will not only boost food security but also unlock carbon credit opportunities” for farmers across the country.

    Shettima hinted at other efforts by the Tinubu administration to ensure food security, saying recently, “250,000 farmers have been insured across eight states, the 30 per cent Value Addition Bill is advancing, and the N250 billion Bank of Agriculture facility is being activated to reach smallholders.”

    Based on updates from the Presidential Food Systems Coordinating Unit, the vice president said, “The Green Imperative Project with Brazil is being repositioned for financing, while the World Bank-backed AGROW programme is mapping priority value chains for roll-out.

    “The Harvesting Hope Caravan has reached half a million citizens in eight states, building trust and grassroots mobilisation. These are lifelines to farmers and proof that NEC’s decisions resonate beyond these chambers.”

    Other highlights of the meeting included an update on Account Balances as at September 17, 2025, which included Excess Crude Account – $ 535,823.39; Stabilisation Account – N83,495,784,133.24; and Natural Resources Account – N125,818,396,257.41.

    Nigerian Economic Summit Group (NESG) also made a presentation to NEC on “The 31st Nigerian Economic Summit – The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030.”

    The presentation was to brief the council on the global trends and risks regarding Uneven Global Growth, Divergent Inflation and Policy,

    Geopolitical Tensions Rising, and Climate and Tech Shifts.

    According to the report, key challenges for reform in Nigeria include: structural bottlenecks: energy and transport deficiencies that inflate production costs, foreign exchange liquidity crisis, and over-reliance on oil weakened fiscal sustainability; political economy risks: political instability, frequent policy reversals, and corruption, which hinder long-term reform, upcoming 2027 election that may delay necessary actions; global systemic pressure: climate change, trade tensions, and capital flight that strain the economy, weak industrial base, which face competitive pressures from African Continental Free Trade Area (AfCFTA).

    NEC thereafter resolved to actively participate in the forthcoming NESG Summit, with a view to synergise ideas and mobilise support for Tinubu’s Renewed Hope Agenda.

    NEC was also briefed on the anticipatory action framework for riverine flooding in Nigeria by National Security Adviser (NSA), Mallam Nuhu Ribadu, who spoke about the purpose of Nigeria’s Anticipatory Action Framework, which outlined a proactive strategy to reduce the humanitarian and economic impacts of riverine flooding through early warning, targeted preparedness, and coordinated response.

    The objectives of the anticipatory action framework, as explained by Governor Babagana Zulum of Borno State, while briefing newsmen after the NEC meeting, included protecting vulnerable households, especially in 13 high-risk states, enabling timely and dignified interventions before flooding peaks, institutionalising anticipatory action across Ministries, Departments and Agencies (MDAs), and focusing on equity, ensuring no community was left behind.

    Zulum listed items under the anticipatory action plan to include: prioritising the use of Multipurpose Cash Assistance, with N24 billion earmarked for this purpose; where necessary, support will also include evacuation sites and essential common services, such as early warning systems, child protection, and Gender-Based Violence prevention; early warning, with National Emergency Management Agency (NEMA) and National Orientation Agency (NOA) leading coordinated messaging to at-risk communities.

    Council was also called to note that: 16 states had fully established Local Emergency Management Committees (LEMC), while 14 states had none, four had partial setups, and three relied solely on desk officers.

    The council resolved that all high-risk states were to establish functional LEMC and provide targeted training for community leaders to enhance preparedness and response at the grassroots level; ensure real-time tracking, post-event reviews, and structured learning to improve accountability and effectiveness; and monitore the quality of early actions, conducting lessons-learned workshops, and refining protocols based on evidence.

    On recommendations, Zulum disclosed that state governors were expected to step down risk communication to vulnerable communities via state channels, such as state broadcast, radio, town halls; strengthen SEMAs with funding, equipment, and training to lead effective responses, while all stakeholders should empower LEMCs to enhance community safety and resilience.

    The council commended the Office of the National Security Adviser (ONSA) for the work done as reflected in the presentation, describing the framework as comprehensive and visionary and also directed the ONSA to widen the scope of the framework to include more states and submit a final document for ratification at the next meeting of NEC.

    Governor of Jigawa State, Umar Namadi, also presented to NEC a report on monthly cost of production survey and impact of energy cost on food production.

    The purpose was to share important information regarding the constraints affecting agricultural production and potential they had in exacerbating the fragile food security situation the federal government had tried to resolve for over two years. 

    Namadi told newsmen after the NEC meeting that council was called to note that the information provided was presented last week at the Presidential Food System Coordinating Unit Steering Committee Meeting.

    In the presentation, the governor recommended that government should give equal emphasis to optimising fertiliser cost, perhaps, through the prioritisation of the mandate given to the PFSCU to liberalise the fertiliser regime.

    The governor, in the memo, asked government to make available smaller handheld implements for small scale and subsistent farmers, who were invariably too low in the ladder to immediately benefit from the tractor programme.

    The memo also called on the chairman of NEC, the vice president, to remind the president of his directive during the special NEC meeting held in June 2024, where he ordered NASENI to ramp up production, and also seek his approval to fund the production of between 50,000 to 100,000 pumps for distribution to the states on needs basis.

    The council thereafter resolved to frontally tackle the challenges of high energy cost and fertiliser prices in the country and directed Minister of State for Petroleum (Gas) to interface with stakeholders with a view to addressing the high cost and availability of gas domestically and report back at the next meeting of the council.

    Nonetheless, NEC at its Thursday meeting, failed to initiate discussions on the pending issue of state police to curb insecurity across the country.

    Tinubu had reiterated his backing for the establishment of state police, which elicited positive reactions from different segments of the society.

    No fewer than 34 state governors had also backed the clamour to establish state police. Sources told THISDAY that the unresolved issue of state police was scheduled for discussion at the last NEC meeting in August, but had to be stepped down.

    It was expected to be deliberated upon at the 152nd NEC meeting on Thursday, but a source at the meeting said it was not even listed on the agenda.

    Tinubu had also recently said the creation of a decentralised police force in Nigeria was now “inevitable,” as the federal government intensified efforts to combat worsening insecurity.

    Speaking earlier this month at State House, Abuja, while receiving a delegation of prominent citizens from Katsina State, led by Governor Dikko Radda, Tinubu directed security agencies to review their operations in the state following a surge in banditry.

    The president had at the meeting announced plans to deploy advanced military hardware, surveillance drones, and additional forest guards to strengthen security.

    He said, “The security challenges that we are facing are surmountable. Yes, we have porous borders. We inherited weaknesses that could have been addressed earlier. It is a challenge that we must fix, and we are facing it.”

    Tinubu added that he had ordered all security agencies to provide daily feedback from operations in Katsina.

    He said, “I am reviewing all the aspects of security; I have to create state police. We are looking at that holistically. We will defeat insecurity. We must protect our children, our people, our livelihood, our places of worship, and our recreational spaces. They can’t intimidate us.”

    The call for state police came after the federal government, in February 2024, set up a committee to explore modalities for its creation.

    Minister of Information and National Orientation, Mohammed Idris, while briefing State House correspondents, confirmed at the time that Tinubu and state governors had agreed on the framework.

    The post NEC Moves to Boost Food Security Nationwide, Endorses NASENI’s Solar Irrigation Pumps appeared first on THISDAYLIVE.

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    •Seeks President’s approval for mass production  •Shettima says it’s a proof that Nigerian ingenuity can compete globally  •Council fails to deliberate on state police Deji Elumoye in Abuja In a
    The post NEC Moves to Boost Food Security Nationwide, Endorses NASENI’s Solar Irrigation Pumps appeared first on THISDAYLIVE.

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