News
FG, Cement Manufacturers Reach Agreement to Sell 50Kg @ N7000 to N8000

Federal government and cement manufacturers have agreed on a N7,000 to N8,000 per 50 kg bag of cement to halt the astronomical rise in the price of the product.

This agreement was part of a deal struck after several hours of meeting held behind closed doors at the Headquarters of the Ministry of Works, between the Federal Government and cement manufacturers , in Abuja, on Monday.
The manufacturers tentatively agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide,
They however put a caveat that the price drop from the current market price would largely depend on government fulfilling its promised interventions in certain areas of concern to ameliorate critical challenges faced in the industry.
Retail price for cement jumped from N5,000 to N10,000 within one week in the open market, after wholesalers citing increasing cost of transportation and other variables, made adjustments to the price they sell to retailers.
Retailers in turn transferred the additional cost burden to consumers to stay afloat.
This prompted President Bola Tinubu to order David Umahi , ministers of Works, and his Trade and Investment counterpart, Dr. Doris Uzoka-Anite. to meet with Cement manufacturers to find a solution to the crisis.
Umahi, had while calling for the meeting expressed the Federal Government’s concern over the development adding that if the situation wasn’t brought under control, it had the potential of hurting the prosperity agenda of rhe current administration .
After the meeting, Umahi read out a communique in which he mentioned concerns raised by the manufacturers.
These concerns include: bad roads, smuggling, high cost of energy, and the Forex crisis. This according to the manufacturers were the primary reasons behind the price hike.
He also said the manufacturers expressed willingness to reduce the prices going forward.
Manufacturers at the meeting include: Dangote Cement PLC, BuA Cement PLC, Larfarge Africa PLC and Cement Producers Association.
Reapresentatoves of the Federal Government include: The Minister of Works and his counterpart in the Ministry of Industry, Trade and Investment,
While reading the communique, Umahi said, “The meeting noted the challenges of the manufacturers like: Cost of gas;, High import duty on spare parts; Bad road network; High foreign exchange; and Smuggling of cement to neighbouring nations.
“The government noted the challenges and reacted as follows: Federal Ministry of Industry, Trade and Investment to seek some remedies from Mr. President on cost of gas and import duties.
“Federal Ministry of Works to give more attention to fixing of the roads, especially around the locations of the manufacturers.
“On the issue of smuggling cement, the Federal Ministry of Industry, Trade and Investment to deepen the already started engagement with the National Security Adviser on how to stop the smuggling.
“The cement manufacturers and the Government noted that the current high price of cement is abnormal in some locations nationwide. Ideally, cement retail prices should not cost more than ₦7,000.00 to ₦8,000.00/ 50kg bag of cement.
“Therefore, the three cement manufacturers: Dangote Cement Plc, BUA Cement Plc and Larfarge Africa Plc have agreed that cement cost will not be more than between ₦7,000.00 and ₦8,000.00/50kg bag depending on the location.
“Going forward, Government advised cement manufacturers to set up a price monitoring mechanism to ensure compliance, and manufacturers have willingly accepted to do so and to sanction any of her distributors or retailers found wanting.
“Government expects the agreed price to drop after securing government’s interventions on the challenges of the manufacturers on gas, import duty, smuggling, and better road network.
News
REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.
The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.
Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.
The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.
Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.
Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.
News
SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.
The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.
Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.
Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.
Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.
The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.
In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.
“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.
He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.
“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”
The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.
News
APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

Mr. Abimbola Tooki
The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.
Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.
He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.
His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.
A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.
He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.
His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.
He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.
Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.
Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.
In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.
The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large
E-Financial2 days agoSupreme Court Clears Fidelity Bank in ₦225bn Sagecom Saga
E-Financial2 days agoPreventing Financial Crimes Amid Mounting Insecurity: Why Following the Money is Now a Survival Imperative
E-Financial2 days agoUnion Bank Clinches Top Workplace Practice Honour at Sustainability Awards
Broadcasting2 days agoDavido, Babajide Sanwo-Olu, Karl Toriola, Others To Be Honoured At The Most Influential People of African Descent Awards In Lagos
News1 day agoSiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy
E-Financial1 day agoTax Reform or Financial Exclusion? The Trouble with Mandatory TINs
Telecom1 day agoNCC Blames NOGASA for Abuja Outage
Telecom2 days agoNITDA Charts Path for Kano as Innovation Hub



















