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NASENI Agrees to Work with NASRDA to Design Drones, Rockets

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National Agency for Science and Engineering Infrastructure (NASENI)  and the National Space Research & Development Agency (NASRDA) have agreed to work together for the development of Nigeria’s space resources, local content, design and fabrication of space technologies for overall socio-economic growth and development of the country.

NASENI Agrees to Work with NASRDA to Design Drones, Rockets

Olusegun Ayeoyenikan, deputy director of Information of NASENI,  in a statement, noted that the collaboration between the two agencies was made possible when Dr. Halilu Shaba,  director general of NASRDA, paid a courtesy visit to the management of NASENI led Prof. Mohammed Haruna, executive vice chairman/chief executive in Abuja .

The agreements will include NASENI assisting NASRDA in fabrication and design of drones and rockets thereby developing local capacities in those areas and also to conserve the country’s foreign exchange, stressing that such collaboration will spur local production to make the nation self reliant as most hi-tech equipment used in space technologies are imported into the country.

Explaining the reasons for the visit, Dr Shaba disclosed that “there was no better time to visit NASENI than now to congratulate the Agency on Federal Government’s approval to release the one (1) percent Federation Account funding mechanism to NASENI as contained in its establishment Law.”

He said further that the feat which was attributed to the leadership prowess of Prof. Haruna came as a major breakthrough for the entire Nigeria’s science, technology and innovation system because the singular effort would open further doors to positive actions by successive governments to make science and innovation funding a priority in Nigeria.

According to him, before this NASENI’s feat, the budgeting system of the country had never been in favour of Nigeria’s science, technology and innovation system which had made the socio-economic development efforts of the country very difficult.

While commending the rare hope which NASENI’s special fund brought to the sector, he said there was need for every well-meaning stakeholder to rally support for the Agency.

“Without investment in science and technology and innovation as a matter of priority, it will be difficult continuously to achieve economic growth and development of our country”, he said.

He stressed further that “the way out therefore is for the government to make funding of the sector a major focus and our coming to NASENI is to identify with this great feat of achieving special funding of 1 percent federation Account for NASENI which we believe signalled the beginning of good things to come for the science, technology and innovation system”.

In his response, the NASENI Chief Executive said the Agency had never engaged in any venture all alone without collaboration and synergy with others because NASENI was not established to reinvent the wheels. He said “when you collaborate, you gain more speed, make more successes, progress and that way you prevent needless duplication of efforts and waste of resources.”

The NASENI boss assured NASRDA of unbroken working collaborations, going forward, in all the areas which have been identified and many more.


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DBN Awards N13m in Grants to Tech Startups

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Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).

DBN Awards N13m in Grants to Tech Startups

The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million

Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.

The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.

In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN,   described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.

“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”

Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.

He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.

Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”

A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.

The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.

Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”


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FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations

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In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.

The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.

Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”

Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.

TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.

Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.


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How and Why N210 Trillion is Missing in NNPCL – CFO

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Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.

How and Why N210 Trillion is Missing in NNPCL - CFO

According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.

He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.

Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.

Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.

Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.

“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”

However,  Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.

Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.

“Forget about the senators’ lack of knowledge.

“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?

“If it’s a cash call, why hasn’t the disclosure said so?

“Which cash call is over 100 trillion?

“Something is definitely not right, and I hope they retrospectively correct that FS.

“Someone somewhere did a chef’s work,” he wrote on X.

 

 


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