General News
FG Requires N350tn to Fund National Development Plan

Federal Government says it requires about N350 trillion to fund National Development Plan (NDP) for 2021 through 2025.

At a joint press briefing by the NESG and Federal Government on Wednesday in Abuja, the Ministry of State for Finance, Budget and National Planning, Prince Clem Agba said the scheduled Summit would hold on October 25-26, 2021
Minister of State for Budget and National Planning, Prince Clem Agba, disclosed this at a joint press briefing by the NESG and Federal Government on Wednesday to kickoff the 2021 edition of the National Economic Summit (#27NES) scheduled to hold from October 25th-26th, 2021 in Abuja.
Agba, who said the N350 trillion targeted fund has already been captured in the 2022 Budget, explained that out of the amount, N300 trillion is expected to come from the private sector while the rest of N50 trillion will come from the federal government.
“The N50 trillion is with regard to funding requirements for the National Development Plan capital project for 2021 to 2025. With the projects that have been projected and costed, there will be a requirement of about N350 trillion and out of this, N300 trillion is expected to flow in from the organised private sector in terms of investment and all of that.
“And that the government will be contributing about N50 trillion. The government here is federal and state. The portion of government is about N30 trillion. For the state (sub-nationals) it is about N20 trillion” he said.
It will be recalled that the 27th Economic Summit was earlier slated for October 25, 2021. The minister had on Wednesday, 28th July, 2021, the minister inaugurated the joint Planning Committee (JPC) for the 27th Summit. The inauguration midwived five sub-committees: Technical; fundraising; and mobilization; media and publicity; editorial and event planning to ensure effective delivery of the summit.
Agba expressed satisfaction with the gradual recovery of the economy and assured that the economy would continue in that positive trajectory.
“What I said was that for 17 months, inflation was rising and in the last five months it is still on a downward trend.
“For 17 years, it rose to 18.7 per cent. Currently, it is at 17.1 per cent. It is declining. And in the last one month, inflation also reduced for the first time. It shows that we are moving in the positive trajectory” he said.
For him, the measures put in place by government were enough to put Nigeria on a positive economic trajectory.
“Measures put in place by the government of Nigeria have ensured that both health and economic data have continued to be on the positive trajectory. Nigeria’s Gross Domestic Product (GDP) grew by 5.01 per cent (year-on-year) in real terms in the second quarter of 2021.
The Q2 2021 growth rate was higher than the -6.10 per cent decline recorded in Q2 2020 and the 0.51 per cent growth recorded in Q1 2021 year-on-year, indicating the return of business and economic activity levels seen prior to the nationwide implementation of COVID-19 related restrictions.
“To sustain this growth trajectory, the Special-Industrial Processing Zones (SAPZs), an Initiative by African Development Bank Group, public and private sector will be established in all 36 states of Nigeria including FCT.
It is a 10- year development programme to be financed under thea African Development Bank (AFDB) which will guarantee steady annual growth rate of about 5 per cent over the next 10 years from year 2023.
“The private sector has capacity if pursued with desired commitment by the Public and Private Sector to provide 25 million permanent employments and 25 million housing.
“The plan amongst others, is to add at least US$150 billion to the country’s foreign reserves cumulatively from non-oil exports over the next 10 years; create at least 500,000 additional export linked jobs annually due, principally to increase in productive export activities; lift at least 10 million Nigerians out of poverty and empower each state and its people by integrating them into the export value chain.
These efforts/initiatives, therefore, would unlock the potentials of each state in the development and promotion of at least one crop for export,” Agba said.
In his remarks, the Chairman of Nigerian Economic Summit (NES #27), Mr Asue Ighodalo, who regretted the earlier postponement of the summit date, descried the huge economic woes currently facing the country which include, currency devaluation, foreign exchange shortages, trade imbalances, budget deficits, mounting debts, high inflation especially food inflation and food insecurity.
He further listed low manufacturing capacity, port inaccessibility, delays and high costs of moving goods and machinery through the ports as other economic challenges facing the nation.
‘‘At NESG, we are pleased with government for heading to recommendations of previous summits,’’ he said.
The summit is expected to provide a platform for effective collaboration between the private and public sectors and also bring together development partners, the Civil Society and representatives of the academia as well as provides participants the unique opportunity to deliberate on contemporary economic and social issues.
The Summit with the theme: Securing the future: The Fierce Urgency of Now, will seek to explore potential opportunities that will accelerate economic development and build on conversations from last year’s summit, which emphasized the importance of harnessing critical and strategic partnership to navigate the economy towards recovery and resilience.
The theme is designed to assess the current state of the Nigerian economy; foster a people-centered approach to refocused economic, social, and political challenges; galvanize a renewed commitment of stakeholders to urgently and actively prioritize the pursuit of economic growth that can sustainably create jobs and lift millions out of poverty.
According to Agba, the summit discussions will be designed around five sub-themes: high and sustained growth; quality of life; national security political economy and digital transformation.
It is also expected to enable Nigeria to realize its economic potentials on the global stage and agree on compact that compels stakeholders to take critical and immediate actions and institute efficient monitoring mechanisms to ensure key recommendations at the NES #27.
General News
FG Asks MDAs to Halt New Policies Until Full Compliance with RIA

Federal government has directed all Ministries, Departments and Agencies (MDAs) to suspend the introduction and rollout of new policies, regulations, or major regulatory changes until full compliance with the Regulatory Impact Analysis (RIA) Framework is achieved.

The directive, issued by Princess Zahrah Mustapha Audu, director general of the Presidential Enabling Business Environment Council (PEBEC), is part of efforts to strengthen regulatory quality, ensure policy coherence, and improve the ease of doing business in Nigeria
According to the statement, the RIA Framework, which was formally implemented in January 2025, requires that all new policies or amendments introduced after the date must undergo review and approval in line with its provisions.
She noted the framework has already been circulated to MDAs by the Office of the Secretary to the Government of the Federation and is also accessible on the PEBEC website.
MDAs are therefore expected to familiarise themselves with the framework and align their policy development processes accordingly.
Audu emphasised that while the government remains committed to working collaboratively with regulatory institutions, no new reform or policy would be allowed to proceed without being backed by clear and verifiable evidence.
She explained the directive aims to prevent policy shocks that could negatively affect businesses, investors and citizens, eliminate inconsistencies and frequent policy reversals, and institutionalise evidence-based policymaking across government.
The directive also seeks to enhance transparency, improve predictability, and boost stakeholder confidence in public policies, while ensuring adequate engagement to minimise resistance prior to implementation.
Consequently, all MDAs have been instructed to suspend any planned policy rollouts that have not yet been implemented, ensure that new policy proposals are supported by comprehensive RIA and necessary approvals, and integrate the RIA process into their internal policy formulation procedures.
They are also required to undertake structured and inclusive stakeholder engagement as part of policy development to improve acceptance and implementation outcomes.
The PEBEC boss added that MDAs can access the RIA Framework through its website or seek technical support from the council’s secretariat.
She, however, noted that exceptions would only be granted in cases of urgent national interest, subject to appropriate approval.
Audu stressed that cooperation from all MDAs is crucial to building a stable, consistent and business-friendly regulatory environment capable of driving sustainable economic growth and boosting investor confidence.
General News
FG Unveils Digital Platform to Showcase Nigeria’s Culture, Tourism Destinations

The Federal Government has unveiled a new digital platform, NITOUREY, aimed at showcasing Nigeria’s rich cultural heritage and tourism destinations to global audiences.

The initiative, introduced at a press conference organised by the Nigerian Tourism Development Authority, was described as a public-private partnership designed to project Nigeria’s diverse cultural assets.
Speaking at the event on Tuesday, the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa, said the platform marked another step in repositioning Nigeria as a leading global destination for tourism, culture and creative excellence.
She explained that the digital project would harness the power of the creative economy and technology to amplify Nigeria’s cultural narratives while creating opportunities for young Nigerians, filmmakers, content creators and tourism operators.
Musawa said, “Today marks yet another significant step in our collective journey to reposition Nigeria as a leading global destination for tourism, culture and creative excellence.
“The initiative aligned with the administration’s economic diversification drive, noting that tourism had the potential to contribute significantly to national growth.
“President Bola Tinubu has a vision to use tourism as part of economic diversification and expansion, and NTDA can play a vital role in achieving that goal”.
She emphasised that NITOUREY would not only showcase destinations across the country but also create economic opportunities within the creative industry.
“Through this initiative, we are not only showcasing destinations across Nigeria but also creating opportunities for the creative industries, including filmmakers, content creators, tourism operators and young Nigerians within the creative economy,” she added.
The minister also stressed the importance of collaboration between government agencies, state governments and the private sector, noting that the platform was a PPP initiative designed to unlock the full potential of Nigeria’s tourism and creative sectors.
“This is a commendable PPP initiative that demonstrates the collaboration required to unlock the full potential of Nigeria’s tourism and creative industry,” she said.
She further assured stakeholders that the Ministry of Art, Culture, Tourism and the Creative Economy would continue to support initiatives that enhance Nigeria’s visibility, attract investment and create jobs.
In his remarks, the Director General of NTDA, Ola Awakan, described NITOUREY as a transformative platform that will redefine how Nigeria is presented to the world.
He emphasised that tourism thrives on perception, visibility, and storytelling, noting that the platform will collaborate with key institutions, including the Nigerian Film Corporation, National Film and Video Censors Board, and the National Information Technology Development Agency, to deliver high-quality content.
Awakan added that the initiative is powered by a strong public-private partnership involving TOURCLIQ Creatives Limited and JM MiSA International Limited, underscoring the importance of collaboration in unlocking the full potential of Nigeria’s tourism and creative industries.
He further revealed that NITOUREY will spotlight iconic destinations across Nigeria’s six geopolitical zones, including Zuma Rock, Yankari Resort and Safari, the Argungu Fishing Festival, Ngwo Pine Forest and Cave, Obudu Mountain Resort, and Olumo Rock, projecting them to a global audience.
The platform is expected to serve as Nigeria’s premier tourism streaming platform, projecting the country’s culture, creativity and destinations to both domestic and international audiences.
General News
Uniting Global Standards to Power the Future of Smart Prepayment

The STS Association is proud to announce the signing of a Liaison Agreement with the DLMS User Association (DLMS UA), marking a significant milestone in the evolution of interoperable, secure, and future-ready smart prepayment metering systems.

This collaboration brings together two of the world’s most widely adopted global standards — STS token technology and the DLMS/COSEM data model — with the shared objective of strengthening interoperability, enhancing smart prepayment capabilities, and delivering greater value across the global metering ecosystem.
The DLMS User Association is a globally recognised authority in interoperable and secure data exchange, providing a strong foundation for innovation in energy and water management. Its DLMS/COSEM protocol and data model are widely adopted and supported by major international standardisation bodies, making it a key enabler of modern smart metering systems.
Through this liaison, the STS Association and DLMS UA will work closely to ensure that STS tokens can be seamlessly transported using the DLMS/COSEM protocol and data model. This includes the development of supporting specifications, mappings, and technical enhancements required to integrate STS token functionality within DLMS Generic Companion Profiles.
Both organisations will align their development roadmaps to ensure that advancements in token technology and data exchange evolve in a coordinated and complementary manner. In parallel, joint efforts will focus on market education, technical documentation, and awareness initiatives to clearly communicate the benefits of integrating STS prepayment with DLMS-based communication frameworks.
While electricity metering remains a primary focus, the collaboration also supports expansion into broader multi-utility applications, including water, gas, and time metering. This reinforces the relevance of both standards in enabling flexible, scalable, and future-ready utility infrastructures.
The STS Association will showcase this collaboration at the Power & Water Nigeria 2026 event between the 28th and 30th April at the Landmark Centre in Lagos, Nigeria. We will be.
The event will provide a platform to engage with utilities and stakeholders from across Africa and beyond, to demonstrate how the integration of STS and DLMS/COSEM is shaping the future of smart metering, while offering practical insights into implementation and deployment.
This strategic alignment reinforces a shared commitment to open standards, long-term sustainability, and the delivery of secure, interoperable solutions that support utilities and consumers in an increasingly digital and connected world.
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