The Obama Foundation Scholars Program at Columbia University extends a prestigious opportunity to emerging leaders from across the world, as well as the United States, granting them a fully funded 9-month residency at Columbia. The program aims to empower individuals who have demonstrated a strong commitment to addressing challenges in their respective communities and nations. This transformative residency offers participants a chance to enhance their knowledge and skills while fostering new capacities and networks that will enable them to accelerate their impact on a global scale. The program is rooted in the framework of Columbia World Projects, conducted on the…
Author: Temitope Nlewemchi
Some members of the Organized Private Sector (OPS) have revealed a concerning statistic: out of the 73 million Nigerian workers, only 10 million have enrolled in the Contributory Pension Scheme (CPS). This revelation was made during an interactive session on the Contributory Pension Scheme for the OPS, which was organized by the National Pension Commission in collaboration with the Nigeria Employers Consultative Association (NECA) in Enugu. Dr. Onyeka, the Enugu State Chairman of the Chartered Institute of Personnel, expressed deep concern about the low enrollment of workers in the CPS, describing it as unfortunate. He pointed out that while federal…
In a significant development with potentially far-reaching implications for Nigeria’s economic landscape and investment climate, MSCI, a renowned provider of essential tools and services for the global investment community, has officially announced a significant reclassification of the MSCI Nigeria indexes. This reclassification involves a shift from Frontier Markets to Standalone Markets for the country. This announcement follows closely on the heels of another pivotal move by FTSE Russell, a global index provider, which downgraded Nigeria from a Frontier Market to an Unclassified Market status in September 2023. The core issue driving this significant reclassification is Nigeria’s ongoing struggle with foreign…
The governor of Ogun State, Dapo Abiodun, has announced that the state will introduce Compressed Natural Gas (CNG) mass transit buses on Monday, October 30th, as part of measures to ease the impact of subsidy removal on residents. Governor Abiodun made this declaration during the 2023 “Odun Omo Owu” celebration, themed “A New Dawn,” at Oba Adeleye Park in Sokori, Abeokuta North Local Government Area. He emphasized that converting the mass transit buses to CNG was a proactive move to alleviate the challenges posed by subsidy removal, ensuring affordable and eco-friendly transportation for the people of Ogun State. The governor…
Efemena Ogie, the Head of Partnership at Moniepoint Inc., believes that Nigeria’s National Identification Number (NIN) database, with 102.39 million entries, holds the potential to significantly expand the number of Bank Verification Numbers (BVNs) in the country, thereby increasing financial inclusion. Ogie made these remarks during a Fintech Forum organized by the Nigeria Information Technology Reporters Association (NITRA) in Lagos. He pointed out that as of October 9, 2023, only 58.9 million Nigerians have BVNs, indicating that a substantial portion of the population remains financially excluded. With Nigeria’s population estimated at around 230 million, the current BVN figures imply that…
The Presidential CNG Initiative (P-CNGi) has taken a significant step towards diversifying the transportation sector in Nigeria, with the official launch of a pilot conversion center for Compressed Natural Gas (CNG) vehicles in Lagos State. This initiative aligns with the federal government’s efforts to mitigate the effects of subsidy removal on fuel prices and contribute to a more ecologically sustainable and economically prosperous future for the country. Mr. Michael Oluwagbemi, the Chief Executive Officer of P-CNGi, emphasized the importance of this development during the inauguration of the FEMADAC Station. He highlighted that the CNG center marks a transition from fuel…
GSM Association (GSMA), the global organization representing mobile network operators, has highlighted the significant potential benefits of 5G technology for the manufacturing sector in Sub-Saharan Africa. According to GSMA’s latest report, titled ‘Mobile Economy Sub-Saharan Africa,’ while 5G is expected to have a positive impact on various sectors in the region, the manufacturing sector is projected to receive over 32% of the benefits. This anticipated growth in the manufacturing sector is primarily attributed to the deployment of 5G technology, which is expected to enable various applications such as smart factories, smart cities, and smart grids, revolutionizing the way businesses operate…
The Federal Minister of Works, Senator Dave Umahi, recently shed light on the upcoming maintenance of the Eko Bridge in Lagos, revealing that this crucial task would necessitate the importation of equipment valued at 1.2 million Euros. This announcement comes as part of the government’s efforts to address the challenges facing the Eko Bridge and ensure the continued accessibility of Lagos Island. Umahi provided these insights during his working visit to various bridges in Lagos State, including the Eko Bridge, Third Mainland Bridge, Carter, Falomo, Iddo, Marina, and Iganmu bridges. The Eko Bridge is of paramount importance to the transportation…
The Federal Government has made significant strides in its efforts to introduce Compressed Natural Gas (CNG) buses, aiming to reduce the cost of CNG to N230 per kilogram. This development was announced by Toyin Subaru, the Special Assistant to the President on Special Duties and Domestic Affairs, during a stakeholder meeting held at the Bank of Industry headquarters in Abuja. The move is part of the government’s plan to deploy 11,500 CNG-powered buses across the country to address transportation challenges resulting from the removal of fuel subsidies. Subaru emphasized that the introduction of CNG-powered mass transit buses would not only…
The National Population Commission (NPC) has forged a strategic partnership with the United Nations Children Fund (UNICEF) to spearhead an ambitious project aimed at registering a substantial number of children in Katsina State, Nigeria. The primary objective is to ensure that approximately 12 million Nigerian children are provided with birth certificates, granting them legal recognition across the nation. This collaborative effort between the NPC and UNICEF carries significant implications for the government’s ability to access valuable data that can facilitate good governance and the effective implementation of policies conducive to economic development. Furthermore, the data generated through this initiative is…
The Federal government has officially unveiled plans for an extensive rehabilitation project set to commence on the 11.8-kilometer Third Mainland Bridge in Lagos on November 1, with an expected duration of three months. This announcement came directly from the Minister of Works, David Umahi, who shared the news during an extensive inspection of various key bridges, including the under deck and lagoon sections of the Third Mainland Bridge, as well as the Carter, Independence, and Falomo Bridges. The Rehabilitation Strategy: Minimal Discomfort for Road Users During his inspection, Minister Umahi disclosed the strategy for the upcoming rehabilitation work, assuring that…
Former President Muhammadu Buhari has responded to Nigeria’s recent victory in the $11 billion Process & Industrial Developments (P&ID) arbitration award dispute, calling it an “attempted heist of historic proportions” against the country, as it sought to steal “one-third of the nation’s foreign reserves.” In an article titled ‘A Matter of Principle,’ Buhari expressed his relief at the judgment delivered by Justice Robin Knowles of the Commercial Courts of England and Wales, who upheld Nigeria’s appeal that the award was obtained through fraud. The former president emphasized the gravity of the situation, stating, “This was an attempted heist of historic…
Dotun Sulaiman (MFR), the Chairman of Parthian Partners Limited, which owns the digital investment platform i-invest, has expressed his positive outlook regarding the potential impact of the Central Bank of Nigeria’s (CBN) forthcoming policy documentation on the regulation of the foreign exchange market in Nigeria. He shared his optimism during an interview with journalists at the National Economic Summit in Abuja. During a panel session at the summit, CBN Governor Yemi Cardoso announced that the central bank will soon release comprehensive policy documentation outlining the regulations and operation guidelines for the foreign exchange market. This news was welcomed by Sulaiman,…
Princess Fifi Ekanem Ejindu, an esteemed architect and fashion connoisseur, has dedicated herself to selfless service to humanity, her family, and her homeland. Whenever the opportunity arises, she proudly highlights the immense potential inherent in Nigeria to her extensive network of friends and investors across the globe. As the first Black African woman to graduate in Architecture from the prestigious Pratt Institute in New York, Princess Fifi’s horizon has been broadened, and she excels in her endeavors with meticulous attention to detail and an inherent passion for refined aesthetics, a characteristic that shines through in her own lifestyle. A recent…
A recent research study conducted by the National Institute of Health has unveiled a strong connection between better mobility, higher income, and longer working years in adults. The research, carried out by scientists from the National Institute of Arthritis and Musculoskeletal and Skin Diseases, a branch of the National Institute of Health, has emphasized that maintaining mobility is closely tied to increased income earnings over time. The link between enhanced mobility and improved financial prospects highlights the integral role mobility plays in one’s overall health and well-being. The findings add to the growing body of evidence supporting the advantages of…
Participants at the Roundtable on the Electricity Act 2023 have underscored the need for comprehensive support to enable states to effectively harness the potential presented by the recently enacted Electricity Act, signed into law by President Tinubu. The Roundtable, which took place in Abuja on October 25 and 26, was jointly organized by the Nigeria Governors’ Forum (NGF) and the British High Commission, with the support of the United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF). One of the primary outcomes of the Roundtable was the recognition that a tailored approach is essential, accounting for the diverse challenges and limitations faced…
The Lagos State Safety Commission has once again demonstrated its commitment to public safety by taking decisive action to seal 19 Bars and Lounges that repeatedly failed to comply with basic safety standards. This move, aimed at safeguarding the well-being of the public, was confirmed by Mr. Lanre Mojola, the Director-General of the Commission. Despite numerous notices and ample opportunities given to these establishments to submit their Safety Management Systems and rectify identified safety infractions, some operators continued to disregard these regulations. As a result, the Lagos State Safety Commission had no choice but to take action to ensure compliance,…
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has provided an optimistic update on the ongoing rehabilitation of the Kaduna Refinery and Petrochemicals Company (KRPC). He announced that the refinery is on track to commence operations in the fourth quarter of 2024. This announcement was made during an inspection tour of the Kaduna Refinery & Petrochemicals, where Lokpobiri assessed the progress of the ongoing quick-fix project of the refinery. The Minister expressed confidence in the project’s progress and its potential to be restreamed by the end of 2024. Key Accountability in the Rehabilitation Process Heineken Lokpobiri emphasized his…
The Accountant General of the Federation (AGF), Mrs. Oluwatoyin Madein, has announced a significant shift in the government’s financial policies. She stated that moving forward, no payments will be made for projects that have not been officially awarded. This announcement was made during a one-day capacity-building program titled “Implementation of the Cash Plan Policy in Nigeria: Prospects and Challenges.” Mrs. Madein emphasized that projects not included in the official procurement plan will face significant challenges in terms of implementation. This decision is aimed at preventing the government from struggling to secure funds at the beginning of the year, only to…
German Chancellor Olaf Scholz is set to visit Nigeria, marking the first official visit by a head of government to the country since the new administration took office. The visit, scheduled for Sunday, October 29, is aimed at strengthening the longstanding and warm bilateral relations between Germany and the Federal Republic of Nigeria. As highlighted in a statement on the Embassy of Germany in Nigeria’s website, the diplomatic relations between Germany and Nigeria have spanned over 60 years. Both nations share a strong partnership, being the strongest economy and the most populous country on their respective continents. The visit is…