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FG Secures N100Bn Loan from EU Development Fund

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Ngozi Okonjo-Iweala, Coordinating Minister for the Economy
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The Federal Government yesterday said it had secured a fresh funding of about N100bn for developmental projects for the next five years under the European Development Fund.

Amb Bashir Yuguda, immediate past supervising minister for National Planning but now minister of State, Finance disclosed this in Abuja during his handing over to Dr Abubakar Sulaiman, newly appointed minister for National Planning.

Yuguda said the deal was one of the achievements he recorded while at the ministry, adding that he was also able to launch a study for the informal sector of the economy which would enable that sector to be fully integrated into the economy.

He said the agreement, which was sealed in Kenya, would help address some of the challenges that Nigeria was facing in its quest towards achieving its developmental goals.

Yuguda expressed optimism that the incoming minister would be able to leverage on some of the work that he had begun, to contribute significantly to the transformation of the economy.

He said, “We’ve been able to build more relationship with the state governments especially in the joint planning boards on areas of strengthening the planning process of the country.

“We also launched the SEEFOR project with developmental partners to build capacity and also, we have launched the informal sector study of the economy and how they can be integrated in the economy.

“We have also signed the agreement for the 11th European Development Fund which is a little bit over N100bn for the next five years.”

Responding, Sulaiman promised to work with members of staff of the ministry to consolidate on the successes so far recorded by his predecessor.

In doing this, the new minister promised to bring in his experience as an academic towards addressing the challenges facing the country.

He said, “I will work with you to ensure the success of this commission because we have a lot of problems and challenges facing this county and we need to bring out our best to consolidate on the gains left behind by my predecessors and I will need your support to achieve this.”


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REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

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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.


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SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

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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.


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APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

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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.

APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

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


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