General News
Ajeromi Ifelodun Local Government Empowers Youths with Digital Skills
Ajeromi Ifelodun Local Government, recently empowered youths in the area with digital skills at its annual programme tagged: “The Mindset with Vice Chairman, Lucky Uduikhue”.
The event in its 8th edition themed: “Powering the Next Generation of Digital Leadership.” was organized in partnership with Willis Capital, Wmarkets and Willis University. The event attended by over 3,000 youths of the local government witness training in skills such as; FX trading, digital currency investments among others.
Governor Babajide Sanwo-Olu, executive governor of Lagos, represented by Hon. Samuel Egube, his deputy chief of staff, said that it is always said that when we build the youths, we build the nation.
“The Governor’s second agenda has heightened the focus on inclusion for our youth’s population. We see this event as a partnership with the government of Lagos state to encourage self-development, entrepreneurship and mindset-development.
“And today, we excited that is why we are here as it aligns with what the governor is doing. We can as well see that our people are eager to learn and participate for growth. This is what we stand for in Lagos. Special thanks to the Vice Chairman and the partner. This is a good sign of what the local governments can do and the impact they can make in their environment.
Also speaking at the event, Hon. Fatai Adekunle Ayoola, executive chairman, Ajeromi Ifelodun Local Government, said his leadership has been instrumental in driving positive change in our community, and we are grateful for this vision and dedication. “Our commitment to youth empowerment is evident in various initiatives, including the just concluded Ajeromi-Ifelodun Youth Empowerment Summit and the Women Summit.
“We are committed to bridging the technology gap in Ajegunle and promoting digital inclusion. We believe that by empowering our youths with digital skills, we can unlock their potential and create a brighter future for our community.
Mr. Lucky Uduikhue, vice chairman of the local government, said that they have empowered over 3000 youths at this year’s event through their partnership with Willis Capital, WMarket and Datapoint Forex and Tech Academy.
“Today’s message is just about value and that we shouldn’t devalue ourselves. Every youth here will be leaving here with value.
This year’s edition was massive with huge turnout of youths which is an indication that people are ready to move from the direction they are to another direction. Because, the world has moved from analogue system to digital system and the message of today is about digital inclusion making sure that people get value from whatever they do for a living.
The massive turnout of youths and adult alike shows that digital is the way forward. We noticed that most of them have the knowledge but don’t know the direction to go.
The training for today showed them the way to go. Looking at blockchain, Artificial intelligence and generally web3 technology shows that the way forward is to embrace digital platform which they have chosen today. Those with little knowledge are ready to expand it; those without knowledge of it have signed on for an opportunity in that direction.
This journey is about relationship. We have built relationship as a local government with our people, that is the reason why we have a strong partner – Willis capital, WMarket and Willis University.
In as addition, we are partnering with Datapoint Forex and Tech Academy which is a base within the community which was officially launched today. We are going to take interested youths to that centre for physical training and mentorship as well as support they need to take off.
DataPoint Forex and Tech Academy also have online tutorials as well for those that cannot attend physically due to the nature of their work or business.
Obinna Aso, Chief Operating Officer, Willis Capital expressed delight at the turnout of youths to participate in the programme.
“We are here today to support this initiative and to change the mindset of the youths here positively. We are the official partner of this event this year and we heard good things about this local government before provide our support. We are going to be training them, provide funding for the talented youths.
“In this event, we are going to be giving a $3000 account to over 20 youths who can work because we are in the business of training talented youths. What we are doing today is a paradigm shift from the normal way youths live their life by encouraging them to embrace digital economy.
“Opening their minds to the new ways of life currently. We don’t want people to keep their minds locked in the old ways of looking for means of livelihood. We want youths to own their destiny and fight for themselves.
“The digital space is open to everyone, there is no barriers to entry, one can come in and changed his/her life. A lot of people have changed their lives. Our CEO in person of Dapo Willis changed his life by embracing the digital economy 13 years ago and today he has been impacting lives across the world. We are encouraging everyone in Ajeromi Ifelodun Local government to do the same”.
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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