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NEITI Thumbs Up Govt for New Board

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Sven Hammar is founder and CEO of Apica
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Nigeria Extractive Industries Transparency Initiative (NEITI) has commended the bold steps taken by the Federal Government to appoint experienced professionals from diverse backgrounds to serve as members of its National Stakeholders Working Group (NSWG).

NEITI said that the painstaking decision by Government to ensure that members of the new NEITI Board were chosen from the extractive industry, civil society, industry- related labour unions, government and representatives of the six geopolitical zones is it a demonstration of the Federal government’s commitment to respect the independence of NEITI, its principles and objectives.

The composition of the new National Stakeholders Working Group (NSWG) include, Mr. Ledum Mitee-Chairman, Hajia Mariam Ladi Ibrahim -Member, Dr. Kate Okparaeke -Member, Mr. Isaac Boyi – Member, Barr. Patrick Udonfang – Member, Mrs. Abiola Enitan Edenaike – Member, Abubakar Balarabe Mahmud, SAN – Member and Engr. Musa Nashumi – Member.

Others are Chairman, OPTS, (Rep. of Extractive Industry Companies) – Member, National Coordinator, Publish What You Pay, in Nigeria (Rep. of Civil Society) – Member, and President of PENGASSAN (Rep. of Labour Union)-member.

Also on the Board is Mr. Dominic Nwachukwu, MD, Ground Water Resources Ltd. (Expert in the Extractive Industry)-Member, Mr. Bassey Ekefene – Member, Group Managing Director (NNPC) – Member, and the Executive Secretary of NEITI Mrs Zainab Ahmed – member and Secretary to the Board.

Orji Ogbonnaya Orji, Director, Communications at NEITI said that the organization  is also satisfied that the composition complies with the provisions of NEITI Act 2007 and the expectations of the global Extractive Industries Transparency Iniative operating in over 45 countries for which Nigeria voluntarily signed up to as a founding member since 2003.

Following the increasing public demand for transparency and accountability in the Nigeria extractive sector, especially the oil and gas industry, growing citizens agitation for reforms through the Petroleum Industry Bill, legislative probes, media and civil society advocacy over extractive revenue transparency issues, increasing citizens pressure for implementation of NEITI principles,methods and processes in Nigeria’s extractive industry, the composition of a formidable NEITI Board to give policy direction to the agency is a courageous and timely decision.

The announcement of the new Board is quite an encouraging relief at a time NEITI has put in place a 5-year development strategic plan, commissioned on-going comprehensive independent audit of the oil and gas sector for the periods 2009 to 2011 and the solid minerals industry audit for the period 2007 – 2010 expected to be completed before the end of the year and put every arrangement in place to ensure that its audits are regular with current information and data.

NEITI equally views the development as a policy boost to the implementation of its comprehensive strategic plan on remediation recently developed by the Inter-ministerial Task Team set up by the government to translate NEITI Audit Reports findings and recommendations into visible impacts.

In addition, the new Board is coming at a time NEITI’s role in the extractive sector is expected to be strengthened by the Petroleum Industry Bill, now before the National Assembly for consideration and passage into law. The coming of the new Board is also consistent with NEITI’s commitment to meet its post-compliant programmes as required by the global EITI.

A close look at the members of the new NEITI Board as announced by the Presidency conveys strong message of sincerity of purpose, confidence, trust, competence, integrity, professionalism and a team that will approach its assignments with knowledge, information, experience, and exposure built on constructive engagements.

NEITI as a major anti-corruption agency in the Nigerian Extractive Sector is encouraged by this development which has no doubt strengthened its position and influence as a model in the EITI implementation around the world.

It is therefore our considered hope that the new Board will build solidly on the enviable successes of the former Board led by Prof Assisi Asobie whose tenure ended in January this year.

While congratulating the members for the meritorious appointment, the Executive Secretary of NEITI, on behalf of management and staff wishes to assure the new Board of every cooperation in the discharge of its assignments.


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MTN Graduates 20 Fellows, Expands Media Innovation Programme

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MTN Nigeria, in partnership with Pan-Atlantic University (PAU), marked a significant milestone in advancing Africa’s media landscape with the graduation of 20 Fellows from the MTN Media Innovation Programme (MIP) Cohort 4 held at the Lagos Business School.

MTN Graduates 20 Fellows, Expands Media Innovation Programme

MTN

The ceremony celebrated excellence, resilience and forward-thinking storytelling, while also announcing the programme’s expansion into a Pan-African edition beginning next year.

The six-month programme, known for its rigorous coursework, demanding schedule and strong emphasis on critical thinking, included an international study visit to South Africa that broadened participants’ understanding of media innovation across the continent.

The graduation event acknowledged the Fellows’ commitment to completing the intensive journey while strengthening their capacity to influence the future of African media.

Dr. Ikechukwu Obiaya, Dean of the School of Media and Communications, PAU, commended the Fellows for their persistence throughout the programme. “In some moments, it was pretty grueling for some of you, but you made it. You are here, and I congratulate you,” he said.

“He encouraged them to see the graduation as a new beginning, adding, “We have so much to do, and each one of us is best positioned now to make that transformation.”

Tobe Okigbo, Chief Corporate Services and Sustainability Officer, MTN Nigeria, congratulated the cohort on successfully completing the six-month programme and reaffirmed MTN’s long-term vision for the initiative.

He said, “Congratulations on completing this journey. You are joining a network of professionals who are committed to elevating the media landscape in Nigeria and beyond.

“The future of this programme depends on your impact. This cohort represents the outcome we envisioned when the journey began. Today, the programme is not only thriving but also expanding.”

He further announced that the Pan-African edition of the programme will be launched in 2026, providing media professionals across the continent with the same level of immersive training and unique exposure experienced by the Fellows.

A key highlight of the event was MTN Nigeria’s presentation of ₦2.5 million in cash prizes to Fellows whose projects demonstrated exceptional innovation, depth of research and alignment with the programme’s ethos of impactful storytelling. The awards were presented by Chineze Gbenga-Oluwatoye, General Manager, Corporate Affairs, MTN Nigeria, and Odunayo Sanya, Executive Director, MTN Foundation.

Vanessa Ukamaka Richard Bassey, Head of Programmes, Sparkling 92.3 FM, Calabar, emerged as the top winner, receiving ₦1 million for the MTN Foundation Chairman Award for Innovative Reportage and another ₦1 million for the MTN Chairman’s Prize for Innovation. Sharing her experience, she said, “It’s been a training ground. It has opened me up to new things and made me more confident. There’s something about knowledge and information and exposure to your mind and to your esteem. After today, I know there’s nothing to be afraid of.”

Abolaji Adebayo received ₦500,000 for the MIP Cohort 4 Best Report, recognised for its clarity, depth and relevance to national discourse.

Several Fellows shared how the programme has reshaped their careers. Adekeye Ayobami of Abamimigo FM described the programme as arriving at the perfect moment, aligning with his recent career elevation.

Ubani Amarachi of Channels TV highlighted the value of the South Africa trip, noting that it transformed her approach to telling African stories and reinforced her belief that graduation marks the beginning of greater responsibility and impact.

The graduation of the MIP Cohort 4 Fellows, coupled with the announcement of the Pan-African edition, reinforces MTN Nigeria’s long-standing commitment to strengthening the media ecosystem through education, exposure and innovation.

The partnership between MTN Nigeria and Pan-Atlantic University continues to serve as a catalyst for developing media professionals equipped to shape narratives, advance societal progress and drive meaningful change across Africa.


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FirstCap Acts as Joint Issuing House on Veritasi Homes & Properties Plc’s ₦30 Billion Bond Programme

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FirstCap Limited, a premier investment banking business and a wholly owned subsidiary of FirstHoldCo Plc, acted as Joint Issuing House and Placing Agent on the Veritasi Homes & Properties Plc’s Series 1 Bond of ₦10 billion under its ₦30 billion Bond Programme duly registered with the Securities and Exchange Commission (SEC).

The Bond Programme is designed to support the development of Project Oyster Towers, located within Eko Atlantic City. Proceeds from the Series 1 Bond issuance are expected to be applied towards the construction of 30 luxury residential units, forming part of an 82-unit residential development comprising one-bedroom, two-bedroom, and three-bedroom apartments.

Veritasi Homes & Properties Plc is an indigenous real estate development company with operations across Lagos State and the Federal Capital Territory, Abuja, and a growing track record in the delivery of residential real estate projects in Nigeria.

Commenting on the transaction, Ukandu E. Ukandu, Managing Director/Chief Executive Officer of FirstCap Limited, stated:

“We are proud to partner with Veritasi Homes & Properties Plc on this important transaction. The establishment of the ₦30 billion Bond Programme reflects our commitment to mobilising capital for the real estate sector, which remains a key driver of Nigeria’s economic growth. Project Oyster Towers exemplifies the future of luxury and sustainable living in Nigeria, and this transaction reinforces FirstCap’s role as a trusted advisor in major corporate finance initiatives.”

FirstCap’s involvement in the Bond Programme further reinforces our dedication to supporting the growth of the Nigeria’s real estate sector. The successful execution of this transaction highlights the depth of expertise within our capital markets team and our role in supporting issuers in accessing long-term funding solutions aligned with their strategic objectives.

By continuing to connect capital providers with high-impact infrastructure projects such as Project Oyster Towers, we remain committed to driving economic development and delivering long-term value for all stakeholders, Ukandu added.

 


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NITDA DG Calls for Innovation-Led Economic Rebirth @ Kano Startup Weekend

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Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.

Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.

He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.

He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.

According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”

He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.

He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.

According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.

He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.

“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.

Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.

He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”

He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.

“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.

Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.


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