General News
FG Rolls Out 30-Year National Integrated Infrastructure Blueprint
Federal Government said it has mapped out a 30-year National Integrated Infrastructure Master Plan (NIIMP) for the country, in realisation of the enormous need for infrastructure improvement in all the sectors of the economy, the
Paramount issues to be addressed through the master plan include broadband availability and penetration, power generation and distribution, among others.
Dr. Shamsudden Usman, minister, National Planning, made the remark at Nigeria Internet Group Annual Conference and Exhibition which commenced in Lagos on Thursday, noting that the plan will be implemented over a period of thirty years from 2014 – 2043.
“The NIIMP adopts a coordinated approach to its development and will among others, address lack of linkages in the infrastructure sector,” he said.
According to the minister who was represented by Jimmy Adeyemi-Offor, assistant director, ICT (NPC), NIIMP is in line with global trends in infrastructure development. He said, “Various countries including Malaysia, India, Singapore and China have adopted NIIMP.
Apart from generally supporting the growth of the national economy, the adoption of NIIMP in those countries has been accompanied by a remarkable private sector inflow of investment for infrastructure development.
“The NIIMP also enhances competitiveness of the countries, and as part of expected benefits, a prioritized projects and programmes whose implementation will address the current deficit in infrastructure in the country would emerge from the plan, hence, Broadband will definitely feature prominently in the plan.
Usman disclosed that the Commission in collaboration with the Infrastructure Concession Regulatory Commission (ICRC) has developed a Framework for the NIIMP and currently consulting with the key stakeholders in the infrastructure sector with a view to harvesting ideas to enrich the framework.
“Working groups on various thematic areas of infrastructure including ICT was inaugurated by Namadi Sambo, vice president, on January 31, and has since commenced activities. The preparation of the NIIMP is to be finalized by July.
Highlighting how the strategy will help develop broadband development in the country, he said, “it has been a focus of attention for quite a while and the Government having realised the relevance of broadband in Nigeria economic development deemed it fit to inaugurate the National Broadband Committee to develop a National Broadband Strategy and Roadmap by Mr. President to bring expanded broadband initiatives to one national initiative.
“The committee is making considerable progress in fashioning out a roadmap for broadband. Therefore, this is an opportune theme for deliberation. It is hoped that the resolutions at this conference will be very instructive for the committee as well. NIG is well advised to transmit such to the Committee for consideration.
Research shows “that broadband is a key element to the economic development to creating positive social, micro-economic and macro-economic impacts. The social impact makes possible an improvement in social links, creation of social capital and empowerment. The micro-economic impacts include improved market information flow, increase in business productivity and job creation. At the macro-economic level, it can boost GDP.”
It has been established that the number of submarine cables landing on the shores of the country carries a huge capacity of broadband but “we cannot fully optimize the benefits of such Internet availability because the country lacks the requisite infrastructure with which to transport the Broadband Internet from the shore to the hinterland for the end-users.”
He said, all hands are on deck in government endeavor to improve infrastructure of which Telecommunication is key.
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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