Following the recent announcement by its Chairman, Dr. Segun Ogunsanya, at a World Press Conference held in Lagos recently, the Airtel Africa Foundation, through Airtel Nigeria, has kicked off its Undergraduate Tech Scholarship Programme to benefit 100 Nigerian undergraduates.

This initiative will provide each recipient with a grant covering tuition, accommodation, study materials, and a stipend from the first year of study through the final year. This financial aid removes economic barriers, empowering students to dedicate their focus to academic and technical achievement in technology.

Eligible courses of study include Computer Science, Information Technology, Data Science, Software Engineering, Cybersecurity, Artificial Intelligence, and other ICT-related disciplines.

Commenting on the initiative, Dr. Ogunsanya affirmed that the scholarships represent the Foundation’s continued commitment to breaking down barriers for young Africans.

“At Airtel Africa Foundation, our vision has always been to create opportunities where talent meets ambition. With this scholarship, we are investing in Nigeria’s future tech leaders, giving them the resources and confidence to thrive in an increasingly digital world,” he stated.

Beneficiaries are selected from 100-level students enrolled in approved programmes in participating public universities across the country. These institutions include the University of Lagos (UNILAG), the University of Nigeria, Nsukka (UNN), Ahmadu Bello University (ABU), the University of Benin (UNIBEN), Obafemi Awolowo University (OAU), the University of Ilorin (UNILORIN), and Tai Solarin University of Education (TASUED).

Airtel Nigeria CEO, Dinesh Balsingh, noted: “The prioritization of education as a pillar of our social investments becomes much stronger with these 100 new scholarships. They build on such other initiatives as our partnership with UNICEF on the Reimagine Education Programme, our Adopt-A-School project, and our 1 billion naira investment in the Three Million Technical Talent (3MTT) effort of the Federal Government. Ultimately, for us as an organisation, the best way to equip the future is to arm it with cutting-edge education.”

The undergraduate scholarship is a direct component of the Foundation’s four strategic pillars of Financial Inclusion, Education, Environmental Protection, and Digital Inclusion (FEED).

History was made on October 4 and 5, 2025, on the waters of the Lagos Lagoon as Team Brazil by Claure Group claimed victory at the E1 Lagos GP presented by FirstBank.

The landmark event marked Africa’s debut on the global calendar of the E1 Series, the world’s first electric powerboat championship, and positioned Lagos at the forefront of sustainable sporting innovation.

The E1 Lagos GP drew thousands of fans to multiple viewing locations across the city, from the vibrant Official Fan Zone to the Ocean’s Club at Black Diamond Hotel and the Lagos Oriental Hotel Decks, which hosted premium hospitality experiences along the waterfront.

The Official Fan Zone quickly became the heartbeat of the event, attracting young Nigerians with immersive brand activations, race simulators, live music, and a festival energy that perfectly matched the excitement on the water.

After an action-packed weekend of competition, Team Brazil by Claure Group finished first, fending off strong performances from Team Blue Rising who placed second, and Team Drogba Global Africa who finished third.

Pilots Timmy Hansen and Ieva Millere-Hagin powered Team Brazil to victory, with Timmy Hansen named PIF Pilot of the Race. Racing was briefly delayed by a tropical storm over the Lagos Lagoon, but organisers and teams worked together to ensure the programme resumed safely and on schedule.

The outcome strengthens Team Brazil’s momentum as the season moves toward the Miami finale in November, while Team Brady retains the overall championship lead and a tight contest continues with Team Rafa.

The Lagos event also reinforced the E1 Series’ sustainability mission, showcasing zero emission race technology and local legacy initiatives including coastal clean-up and mangrove restoration programmes.

The race weekend attracted local and international media, dignitaries and sporting figures and underlined Lagos’ capacity to host major global sporting events on its waterways. By successfully staging the first E1 race on African soil, Lagos joins Monaco, Dubrovnik and Doha as an E1 host city and affirms its positioning as a centre for innovation, culture and sustainable sport.

Federal government  plans to raise $2.8 billion in fresh funding as part of efforts to diversify its borrowing instruments and attract capital from global Islamic finance markets.

President Bola Tinubu asked the national assembly  on October 7 to authorize $2.3 billion in new loans and a $500 million sovereign sukuk, marking what would be Nigeria’s first international sukuk issuance if approved.

“The objective is to make our borrowing more sustainable and cost-efficient,” Wale Edun, minister of Finance and Economy, said at an economic summit in Abuja, emphasizing a shift toward green bonds, diaspora bonds, and sukuk instead of traditional eurobonds.

According to Tinubu’s letter to lawmakers, the $2.3 billion borrowing will fund part of the 2025 fiscal deficit and refinance eurobonds that mature in November.

The government plans to mobilize the funds through multiple channels, including syndicated loans, eurobond sales, bridge financing via partner banks, or direct borrowing from international financial institutions.

The initiative aims to reduce Nigeria’s reliance on eurobonds while expanding its investor base to include Middle Eastern and Southeast Asian markets.

Nigeria has issued eight domestic sukuk bonds since 2017, all denominated in naira and targeted at the local market.

These Sharia-compliant instruments have financed road infrastructure projects and enjoyed strong demand — the latest, issued in May 2025, was seven times oversubscribed, according to Fitch Ratings.

The planned $500 million sukuk, denominated in U.S. dollars, would mark Nigeria’s debut in international Islamic debt markets.

Abuja aims to replicate the success of its domestic sukuk program abroad, potentially with support from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a subsidiary of the Islamic Development Bank.

Nigeria’s Islamic finance industry reached $4 billion in assets by May 2025, according to Fitch.

Sukuk make up 54% of that total, followed by Islamic banking assets at 45%.

Despite rapid growth, non-interest banks still represent only 2% of Nigeria’s total banking assets, with five active institutions, including sector pioneer Jaiz Bank.

The Central Bank of Nigeria recently introduced new Islamic liquidity tools and raised capital requirements, measures expected to accelerate sector expansion in 2026.

“Nigeria has considerable potential for Islamic finance growth,” Fitch said, citing the country’s large Muslim population and significant unbanked demographic.

The proposed operation follows an upgrade of Nigeria’s sovereign rating by Fitch to ‘B’ in June 2025. The agency praised Tinubu’s reform agenda, which includes fuel subsidy removal, exchange rate unification, and fiscal restructuring, all of which improved fiscal credibility.

Nigeria returned to international capital markets in late 2024 after a nearly three-year hiatus and now seeks to consolidate its presence as a sovereign issuer while diversifying funding sources.

The global sukuk market has shown robust growth this year. Fitch projects outstanding sukuk to surpass $1 trillion by the end of 2025, while S&P Global Ratings forecasts $190–200 billion in new issuances.

Africa, however, accounts for only 2% of the global sukuk market, underscoring Nigeria’s potential to position itself as a regional leader in Islamic finance.