Connect with us

News

FG Seeks Asset Manager for N15tn Infraco Fund

Published

on

Vice President Yemi Osinbajo
Kindly share this post

Federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.

Vice President Yemi Osinbajo

President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.

A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.

The Infraco will help fund projects from roads to railways and power plants.

The fund manager will be responsible for coordinating the total equity capital and associated debt raise required by the company, according to the source.

Asset managers seeking the role must have been active in infrastructure financing.

“We need to be innovative in our approach to developing our infrastructure in Nigeria,” Mr. Godwin Emefiele, CBN governor, said in a text message sent by an official from the institution.

“We believe that Infraco will be a major game-changer in this regard.”

Already, PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG have expressed interest in being transaction advisers in the deal, according to the source.

Ukiri Lijadu and Co. and Kenna Partners have been appointed legal advisers, the source said.

PricewaterhouseCoopers and KPMG didn’t immediately answer calls seeking comment on Wednesday, while calls to Ukiri Lijadu and McKinsey didn’t connect. Representatives at Kenna Partners and BCG couldn’t comment straight away when called.

Nigeria plans to boost infrastructure investments to stimulate economic growth after exiting its second recession in four years in the fourth quarter.

The nation needs at least $3 trillion over 30 years to close its infrastructure deficit, Moody’s Investors Service said in a November report.

Already, Vice President Yemi Osinbajo has been saddled with the responsibility of heading a steering committee to facilitate the take-off of the company.

Mr. Laolu Akande, Osinbajo’s media assistant, had said in a statement at the time that Infraco would grow to N15 trillion in assets and capital and that it would be one of the premier infrastructure finance entities in Africa to be wholly dedicated to Nigeria’s infrastructure development.

According to him, the initial seed capital for the entity will come from the CBN, the NSIA and the AFC.

Akande had stated: “The board of Infra-Co will be chaired by the central bank governor and include the Managing Director of the Nigerian Sovereign Investment Authority, President of the Africa Finance Corporation, as well as representatives of the Nigeria Governors’ Forum, and the Ministry of Finance, Budget and National Planning. The board will also have three independent directors from the private sector.

“To address Nigeria’s infrastructure deficit, the Buhari administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (PIDF), designed to cater for the second Niger Bridge, the Abuja-Kaduna-Zaria-Kano Expressway, and other projects.

“There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny bridges and road (with the Nigeria Liquefied Natural Gas, NLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

News

NLNG Advances Media Excellence with Change Your Story Workshop

Published

on

Kindly share this post

NLNG has demonstrated its dedication to media development in Nigeria through the successful completion of the second edition of the #NLNGChangeYourStory workshop for 2026, which took place in Lagos.

The workshop convened 40 participants representing diverse media outlets to examine the changing landscape of journalism shaped by artificial intelligence and digital communication. Discussions centered on how new media technologies can support real-time reporting, extend audience reach across borders, and foster deeper, more effective engagement on digital platforms.

Speaking at the event, the General Manager, External Relations and Sustainable Development at NLNG, Sophia Horsfall, described the workshop as part of the company’s broader effort to strengthen engagement with the media while supporting professional excellence in journalism. She noted that the initiative reflects NLNG’s belief that well-informed reporting plays an important role in shaping public understanding of critical sectors such as energy, economic development, and sustainability.

She encouraged participants to leverage the insights and practical knowledge gained during the workshop to elevate the quality, depth, and credibility of their reporting.

“NLNG views this engagement as a strategic partnership. We provide the energy that powers nations and generates revenue for our nation; you provide the information that powers our minds. We have been proud to host you, but our pride will only be justified when we see the ‘New Standard’ in your next feature, your next broadcast, and your next investigative report.

As you head back to your various stations, I urge you to take the spirit of this workshop with you.”

The programme combined expert-led discussions with hands-on learning. Digital communication specialist Dan Mason guided participants through key aspects of digital storytelling, while veteran journalist Taiwo Obe led a practical Journalism Clinic. Together, the sessions equipped participants with practical skills in data visualisation, online verification, audience engagement, and managing a strong digital presence.

Through the workshop, NLNG reiterated its commitment to promoting journalistic excellence and supporting the media industry’s digital transformation. The #NLNGChangeYourStory programme has now empowered over 400 journalists with enhanced digital communication and social media skills across its various editions.


Kindly share this post
Continue Reading

News

FG Approves First National Policy on Cosmetic Safety, Health

Published

on

Kindly share this post

Cosmetic products are widely used in Nigeria, but many consumers remain unaware of the chemicals they may contain.

FG Approves First National Policy on Cosmetic Safety, Health

Federal government has therefore approved the first national policy on cosmetics safety and health after nearly two decades of stalled attempts.

The policy was launched at the Sixty sixth National Council on Health in Calabar.

It establishes a clear system to regulate how cosmetic products are manufactured, imported, sold, used and disposed of.

The new policy supports major government priorities.

It aligns with the National Strategic Health Development Plan II, the National Chemical Safety Policy and the National Environmental Health Action Plan.

It also advances the Nigeria Health Sector Renewal Investment Initiative and strengthens the country’s commitments under the International Health Regulations and the Minamata

Convention on Mercury.

By improving regulation and surveillance, the policy strengthens health security, protects consumers and supports economic diversification.

It also responds to state level priorities, since implementation will take place across all thirty six states and the Federal Capital Territory.

Everyday products, real health risks

Cosmetics are part of daily life for millions of Nigerians, but many people do not know what is inside the products they use.

Amina Yusuf, a shop attendant in Tarauni local government area, Kano State, said she developed skin irritation after using a product sold as a “natural toning oil”.

“I thought it was safe because it was called organic,” Yusuf said. “But my skin became sensitive, and small cuts took longer to heal.”

A health worker later explained that the product likely contained harmful chemicals.

In Kura local government area, community members described how some traders repackage creams without labels. One resident said a neighbour developed rashes after using a mixture bought at a weekly market.

“People buy what they can afford,” she said.

“Most of us do not have access to formally regulated shops.”

In Sabon Gari market, Kano State, an expectant mother, Gloria Okafor, learned during an antenatal visit that a cream she used for stretch marks might contain heavy metals.

“I was careful with food and medicine during pregnancy,” Okafor said. “I never imagined body cream could be a risk.”

These experiences reflect wider challenges: limited consumer awareness, informal distribution systems and economic pressures that make unregulated products common.

The scale of the problem

Recent national and global assessments highlight both the scale and the safety concerns within Nigeria’s cosmetics sector.

Nigeria’s cosmetics industry has grown into a dynamic and increasingly sophisticated sector, with a market valuation exceeding US$ 7.8 billion¹.

Globally, the cosmetics market is valued at over US$ 429.2 billion², presenting both economic opportunity and regulatory challenges, particularly in low  and middle income countries (LMICs) such as Nigeria.

Since 2022, Nigeria has registered close to 9 000 cosmetic products that meet national regulatory requirements under the oversight of the National Agency for Food and Drug Administration and Control³, reflecting strengthened compliance efforts.

However, toxicological evidence remains concerning. Globally, over 100 known carcinogens and at least 15 endocrine disrupting chemicals have been identified in cosmetic formulations². In Nigeria, a study conducted in Anambra State found lead contamination in 62% of tested cosmetic products, with concentrations ranging from 0.10 to 42.12 mg/kg⁴ (exceeding the World Health Organization permissible limit of 10 mg/kg). Additional investigations in Ibadan and Lagos confirmed cadmium, lead and nickel levels above international safety limits in personal care products⁵⁻⁶.

These findings underscore the urgent need for strengthened surveillance, consumer awareness and enforcement to protect public health.

Why regulation matters

Studies in Nigeria have found high levels of lead, cadmium and other harmful substances in some cosmetic products.

These chemicals can cause kidney problems, skin damage and complications during pregnancy.

Market surveillance efforts in Kurmi market, Kano Municipal local government area, reveal widespread mislabelling and repackaging practices.

According to Audu Tanimu, National Agency for Food and Drug Administration and Control officer, “Some products are intentionally labelled to avoid suspicion, but laboratory testing shows restricted substances. Enforcement efforts are ongoing, yet informal supply chains continue to complicate traceability.”

Turn the vision to reality

After years of Nigeria’s vision to develop a cosmetic policy, World Health Organization (WHO) worked with the Federal Ministry of Health and Social Welfare, the National Agency for Food and Drug Administration and Control, the Nigeria Economic Summit Group, state governments, Resolve to Save Lives (RTSL), civil society and industry groups in 2025 to turn this into reality.

It provided technical guidance, reviewed evidence, supported meetings with partners and helped strengthen surveillance and reporting systems.

This support built on years of collaboration to improve chemical safety and International Health Regulations core capacities.

This work was supported by funding from the Foreign, Commonwealth and Development Office (FCDO) and RTSL.

What will change

The new policy introduces three main areas of action:

  • Regulatory oversight and governance — A unified national system will ensure all cosmetic products meet safety and quality standards and improve coordination across agencies.
  • Cosmetics vigilance and health intelligence — A national early warning system will help detect harmful products faster and support quicker public health responses.
  • Strengthening the cosmetics value chain — The policy supports safer manufacturing and responsible trade. It also aligns with African Continental Free Trade Area opportunities, helping local industries grow while protecting workers and consumers.

These changes are expected to reduce exposure to harmful chemicals, lower the number of cosmetic related health complications and improve consumer confidence.

A collective effort

Implementation will begin across all states and the Federal Capital Territory.

The Federal Ministry of Health and Social Welfare, the National Agency for Food and Drug Administration and Control, the Nigeria Economic Summit Group, state governments, civil society and private sector actors will lead the rollout. WHO and Resolve to Save Lives will continue supporting government efforts to strengthen surveillance, raise awareness and promote safer markets.

This milestone reflects the combined efforts of government, regulators, communities and partners working toward a shared goal: protecting Nigerians from harmful exposures and strengthening national health security.

A call to action

  • Political and financial commitment from government counterparts at all levels to prioritise implementation of the policy.
  • Consumers should choose labelled and registered cosmetic products to safeguard their health.
  • Industry actors should follow national safety standards.
  • Health workers play a critical role in identifying cosmetic related health effects early and responding appropriately.
  • Everyone should help raise awareness about the health effects of cosmetics and protect communities from preventable harm.

Kindly share this post
Continue Reading

News

Mobile Phones Used by Food Vendors Could Spread Infections- Experts

Published

on

Kindly share this post

Mobile phones used by food vendors may be a hidden source of harmful microorganisms that can contaminate food, a recent study has revealed.

Mobile Phones Used by Food Vendors Could Spread Infections- Experts

Published in the 2026 edition of the International Journal of Pathogen Research, the research analysed 20 phones from ready-to-eat food vendors, 10 smartphones and 10 button phones, collected between January and June 2025.

Laboratory tests detected a range of bacteria, including Bacillus, Staphylococcus, Klebsiella, Pseudomonas, Streptococcus, Escherichia, and Corynebact.

Bacillus and Staphylococcus were most common on button phones, each making up 25.6% of isolates, while Staphylococcus dominated smartphones at 37%.

Fungal organisms were also found, including Aspergillus, Candida, Mucor, and Rhizopus species.

Mucor was most prevalent on button phones, whereas Aspergillus and Rhizopus were more common on smartphones.

The study showed that button phones carried a higher microbial load than smartphones, and some of the microorganisms exhibited resistance to certain antibiotics, underscoring their public health significance.

Researchers said contamination is likely linked to frequent phone use after handling food or touching surfaces without proper hand hygiene.

They warned that mobile phones can act as fomites, objects that carry and transmit infectious agents, allowing microbes to transfer from hands to food.

The study urges food vendors to adopt safer practices, including regular handwashing, disinfecting phones, and avoiding mobile phone use while preparing or serving food.

Experts say the findings highlight the need for public awareness and hygiene education, noting that everyday devices like mobile phones may play a larger role in spreading infections than previously recognised, particularly in food service settings.


Kindly share this post
Continue Reading

Trending