General News
Nigerian Content Board Invested $5Bn in Local Content Devt

Ernest Nwapa, executive secretary of Nigerian Content Development and Monitoring Board (NCDMD), said the board had invested $5bn in the country’s economy.
Nwapa explained that the fit was achieved as a result of the board’s insistence that oil and gas manufacturing companies are located in the country to ease the availability of facilities.
Speaking during the inauguration of Benkline Workshop in Port Harcourt on Saturday, Nwapa promised that the Federal Government would support every investment in the country.
He stated that the government was ready to confront any opposition to investment in the nation’s economy, adding that the amount of investment expected within the next five years would be enormous.
The NCDBM boss expressed the need for investors to do their businesses in a legitimate manner in order to ensure the sustainability of their investments.
He said, “This government is going to support every investment that is made here. If you tally the total value of where we have visited to commission facilities in the last four years, you will have $5bn worth of investments in this economy, just by insisting these things are done in our economy. So you can imagine where we would be in the next five years.
“Our commitment is that any investment that is made in Nigeria, we would wrestle anybody to the ground to make sure that work is put in there. If you want to continue in this business, you must do it the way it is done or even better than in other jurisdictions. That is the only guarantee that will make you have a sustainable business.”
Describing Bekline Nigeria Limited, an oil and gas equipment and service provider, as a trail blazer in original equipment manufacturing and services, Nwapa stated that the organisation was ahead of the board’s plan.
He said, “Several pumps from the Nigerian oil and gas industry had been moved out of the country for repairs in the past, but if we have a few companies like Benkline, there will be a reverse migration of technology into the country.
“The strategy we have adopted will attract other people. By the time the big operators begin to put their work here, even the indigenous companies that today have problems with doing things in Nigeria will have a rethink.
“We are challenging the indigenous producer to begin to partner and patronize local service companies so that the market will expand. The market in Nigeria is big on its own but we often fail to realize that Nigeria is often seen as salvation location by other African countries.”
Earlier, Mr. Larry Osai, chairman, Board of Directors, Bekline Nigeria Limited, pointed out that though the owners of the organisation had passed on, their legacies of being among the best in equipment manufacturing for the oil and gas sector.
Osai explained that the workshop established by the company would close the gap in equipment manufacturing and services, saying, “All these would not have been possible if we did not have a government that have put the Local Content Law in place.
“The partners we have today; FRAMO and Eurofiliales have done a lot for the growth of the company and we cannot be grateful enough.”
General News
NITDA Takes IT Projects Clearance Campaign to Office of Accountant General, Others

In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda to enhance governance for effective service delivery, and with NITDA asserting its mandate as the clearing house for all government Information Technology, (IT) projects, the Agency has taken the campaign on the imperative of scrutinizing IT projects of the Federal Public Institutions to the Office of the Accountant General of the Federation, Office of the Auditor General of the Federation and Bureau of Public Procurement.
The visit focused on the presentation of NITDA’s Reviewed IT Project Clearance Guidance Document—an updated framework designed to standardise the planning, funding, and execution of IT projects in line with national digital economy goals.
The document, a revision of the 2018 Guidelines for Clearance of IT Projects, emphasises cost-effectiveness, regulatory compliance, and transparency, reinforcing NITDA’s role as the clearing house for all government IT initiatives under the National Information Technology Development Act (2007.)
During these visits, NITDA’s Director General emphasised that the Agency cannot work in isolation to achieve the Renewed Hope Agenda of transforming the economy digitally. “And we need to explore how we can strengthen our partnerships and collaborations in line with the President’s agenda.”
He averred that there is need to be more focused and intentional in the implementation of IT projects if the country wants to maintain its leading position in Africa. “56 percent IT projects failed to deliver on what were promised because we go for latest technology, and failure to design before building the technology and lack of consideration for the business value proposition we are trying to deliver with the projects, he decried.
Inuwa informed his hosts that in order to safeguard against that, NITDA has reviewed the IT Clearance Guideline because experience has shown that most Ministries, Departments and Agencies build IT projects based on the proposal submitted to them by the contractors who would design the projects, implement them and operate them which give no room for accountability and transparency and that has led to the failure of many IT projects.
“We are building a digitised government service; and government is one. We need to work together, work harmoniously, the same way IT system works to deliver these services. For us to achieve this, we need to be more intentional in the way we design, and implement. And if we continue to design and implement in silos, they will never worked together, he warned.
He maintained that the idea behind the reviewed guideline is to ensure that IT projects are designed in line in line with the mindset of interoperability in order for Ministries Departments and Agencies, (MDAs) to explore shared services and follow the best practices and standard.
“The guideline will guide MDAs on how to design, operate and how to maintain system because building of these systems is beyond technology but people, processes and key components of that are paramount.
According to the Director General, the proposed guideline has three steps of IT projects implementations which are; the Solution Design, the Implementation and Quality Assurance steps. He added that going forward; contractors are required to get license and certified employees on these three steps for their companies before government’s IT projects could be awarded to them.
“These measures are designed to eliminate corruption, prevent duplication, and ensure that government IT initiatives are structured to create meaningful change—fostering efficiency, equity, and fairness in public service.”
At the Bureau of Public Procurement, the Director General, Dr. Adebowale Adedokun stressed the significance of standardising IT Project Bidding Documents. He remarked, “It is disheartening that organisations misuse IT projects to siphon public funds—resources that could otherwise be channeled towards impactful initiatives that can transform the country.
He disclosed that MDAs come with IT projects that were adopted without standardisation and guideline “but with this new guideline our decision should pave ways for the development of the IT sector of the country.”
While describing the meeting as crucial to eradicate corruption in the implementation of IT projects, he noted that because most IT projects component are intangible, official leverage them to siphon public fund, adding that the Bureau has developed a standard bidding document for the IT procurement.
He said, “We have huge responsibility with NITDA to avoid corruption, duplication of IT projects and ensure transparency and accountability in the award of IT projects for the Federal Public Institutions. It is disheartening that we are consuming resources that can be deployed to meet other needs of the country and we need to stop this and say no to wastage.”
He tasked NITDA to reconsider service-wide procurement of licenses of organisations like Microsoft, Oracle and others, and also develop a template for IT Price Intelligence which the Bureau can rely on for costing. “We are not IT experts, if NITDA can help us with data on the prices of IT related products which can serve as benchmark for pricing, it will go a long way in our review.
Dr Adedokun equally canvassed for capacity building for the government’s staff in IT cadre so they would not be outsmarted by contractors.
Both NITDA and BPP agreed to constitute a working committee that would work out modalities for the realisation of the entire intended plan and sign a Memorandum of Understanding on its implementation.
At the Office of the Auditor General of the Federation, the Auditor General of the Federation, Shaakaa Kanyitor Chira, remarked that NITDA needs to be commended for its thoughtfulness for bringing the guideline forward for its review and inputs.
He assured that once the policy becomes operational, the Office of the Auditor General will conduct a performance audit to assess whether it is effectively contributing to the betterment of the country.
Similarly, the Accountant General, Shamseldeen Ogunjimi, commended NITDA’s efforts to standardise IT project implementation and expressed readiness to support the integration of the clearance guidelines into financial processes.
By presenting the Reviewed IT Project Clearance Guidance Document, NITDA aims to ensure that the AGF’s financial oversight aligns with its vision of a digitally transformed public sector. The collaboration is expected to enhance service delivery, curb inefficiencies, and position Nigeria as a leader in technology-driven governance.
It could be recalled that NITDA, in 2018 unveiled the Guideline for IT Project Clearance and the Agency has been able to save over N300 billion for the country in its effort at clearing IT project.
General News
CBN Maintains 27.50% MPR as Inflation Moderates

Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the MPR at 27.50 per cent, thus making it the second consecutive time in 2025.
The decision was announced by the CBN Governor, Yemi Cardoso following the Committee’s 300th meeting which ended today in Abuja.
The Committee equally retained the asymmetric corridor at +500/-100 basis points as well as the Cash Reserve Ratio of Deposit Money Banks at 50.00 per cent, that of Merchant Banks at 16 per cent and Liquidity Ratio at 30.00 per cent.
The Committee reviewed developments in the global and domestic economies including the risks to the outlook.
All twelve members of the Committee were in attendance and were unanimous in its decision to hold policy .
The MPC noted the relative improvements in some key macroeconomic indicators which are expected to support the overall moderation in prices in the near to medium term. These include the progressive narrowing of the gap between the Nigeria Foreign Exchange Market (NFEM) and Bureau De Change (BDC) windows, the positive balance of payments position, and easing price of PMS.
Members also noted with satisfaction the progressive moderation in food inflation and, therefore, commended the government for implementing measures to increase food supply as well as stepping up the fight against insecurity, especially in farming communities.
The MPC, thus, encouraged security agencies to sustain the momentum while government provides necessary inputs to farmers to further boost food production.
The Committee, however, acknowledged underlying inflationary pressures driven largely by high electricity prices, persistent foreign exchange demand pressure and other legacy structural factors.
The MPC noted new policies introduced by the Federal Government to boost local production, reduce foreign currency demand pressure, and thus, lessen the pass-through to domestic prices.
Given the relative stability observed in the foreign exchange market, Members urged the Bank to sustain the implementation of the ongoing reforms to further boost market confidence.
The Committee also called on the fiscal authority to strengthen current efforts at enhancing foreign exchange earnings, especially from gas, oil and non-oil exports.
The MPC, however, expressed concerns about the recent decline in crude oil prices, attributable to increased production by non-OPEC members.
General News
Nigeria to Launch 4 Satellites for Surveillance, Others

Federal Executive Council (FEC) has approved the launch of four satellites aimed at strengthening Earth observation capabilities and improving national security, according to Uche Nnaji, minister of Innovation, Science and Technology.

Uche Nnaji, minister of Innovation, Science and Technology
Speaking at the 22nd National Council on Innovation, Science and Technology (NCIST) in Abuja, Nnaji said the satellites include three Earth Observation models and one Radar Aperture satellite. The council meeting was held from 12 to 14 May under the theme: “Research, Develop, Innovate and Commercialise: A Cycle for National Prosperity.”
“Just last week, the Federal Executive Council approved that Nigeria launch four satellites—three Earth Observation satellites and one search satellite,” the minister said.
According to him, the Radar Aperture satellite will be capable of capturing images under various conditions, including nighttime and rainfall.
“The search satellite is the one that will pick images both day, night, during rain, every time of the day, and that is technology in play. The military can use it effectively,” he said.
Nnaji noted that this will reduce Nigeria’s reliance on purchasing data and imagery for monitoring remote areas like the Sambisa forest.
On policy development, he said an inter-ministerial committee is reviewing the National Science, Technology and Innovation Policy and working on establishing a National Research and Innovation Fund.
“As a country, we can no longer afford to ignore the widening gap between research and real-world impact,” Nnaji said. “For decades, valuable research conducted in our universities and institutions has remained underutilised, disconnected from industries and policy.”
He pointed out the challenges faced by young innovators, including a lack of structured support and financing to transform ideas into marketable products.
“Let this 22nd edition of NCIST mark the beginning of a new chapter, one where every research has a roadmap to industry,” he said.
Nnaji called for sustained efforts from researchers, private investors, and regulators to ensure innovations are protected and supported. “The government must build and enforce regulatory frameworks that protect, support, and incentivise innovation at every level,” he added.
He said the council’s resolutions would be forwarded to FEC for formal adoption and reaffirmed the ministry’s plan to restore the council’s annual meeting schedule after delays pushed the 22nd edition into 2025.
Esuabana Nko-Asanye, the ministry’s permanent secretary, described the meeting as a platform to promote inter-sectoral collaboration and address challenges such as insecurity, unemployment, and climate change. She said 109 memoranda were presented, highlighting proposals on issues like commercialising research, boosting funding for innovation, and building capacity in emerging technologies.
“The richness and diversity of these submissions underscore the growing recognition of science, technology and innovation as a cornerstone of Nigeria’s sustainable development,” Nko-Asanye said.
George Akume, secretary to the Government of the Federation, represented by Morris Mbaeri, said building a resilient innovation ecosystem is key to national development. “This cycle is very essential in addressing real-world challenges and unlocking long-term prosperity,” he said.
Azikiwe Onwualu, president, African University of Science and Technology (AUST), urged the government to increase research and development spending to 3% of GDP and proposed the establishment of more RDIC clusters that integrate academia, industry, and startups.
He said: “We should operationalise the National Research and Innovation Council Fund to coordinate RDIC efforts as envisaged in the STI policy.”
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