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Nigerian Investors Launch $5b Cooperative Trust Fund for MSMEs

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A group of Nigerian investors has launched a $5 billion Cooperative Trust Fund aimed at building and strengthening micro, small, and medium-scale enterprises (MSMEs) across the country, in a bid to spur rapid economic growth.

The initiative, unveiled in Abuja over the weekend, is spearheaded by the AssuredInvest™ Cooperative Trust Fund, a multipurpose financial vehicle tailored to support grassroots enterprises across various sectors of the economy.

Speaking at the launch, the lead promoter, Benjamin Aduli, stated that the Fund is backed by institutional capital and governed by cooperative law, not securities law. He emphasized that the Fund aligns with the economic development goals of the current administration.

“This Fund is driven by clear cooperative use-cases—food production, mechanization, housing, education, clean energy, and digital inclusion,” Aduli explained. “It is supported by both government and relevant regulators to ensure it delivers on its objectives.”

Aduli further revealed that the Fund is being administered with oversight from trustee banks, insurance underwriters, and cooperative federations. Among the key partners are the Cooperative Financing Agency of Nigeria (CFAN), National Agricultural Cooperative Organisation (NACO), Cooperative Housing Federation of Nigeria (COHFON), and Akilaah National Cooperative Federation (Akilaah).

“What makes the AssuredInvest™ Fund historic is its demand-driven nature,” Aduli noted. “Unlike traditional financing models that flood the market with unsolicited capital, this Fund responds solely to verified cooperative demand. Whether it’s a rice farmer in Lokoja, a housing cooperative in Enugu, or an MSME cluster in Kaduna—this Fund addresses structured, real-world needs.”

Also speaking, Nathan Nwachukwu, CEO of Terra Industries, said his organization is partnering with the Fund to deploy drone services that will monitor agricultural activities.

“In the first phase, we are deploying surveillance across 40,000 hectares in Kogi State, protecting over 20,000 rice farmers operating under the MAIS Cooperative network,” he said. “Our drones will provide 24/7 aerial surveillance, real-time threat detection, data analytics, and situational awareness to bolster agricultural security.”

In her remarks, Dr. Esther Audu, Chairperson of Women in Agriculture, praised the initiative as a revolutionary step in cooperative financing across Africa.

“The AssuredInvest™ Trust Fund is Africa’s first demand-driven fund,” she said. “It doesn’t inject capital into speculative projects. Every kobo goes directly to real people, real businesses, and real communities. It is rooted in law, built on trust, and driven by a mission to uplift.”

She also lauded the use of drone-powered surveillance to secure farmlands, calling it “a bold leap forward for Nigeria’s agricultural future.”

“The launch of this surveillance system for 20,000 rice farmers in Kogi State is not just about protection—it’s about bringing digital intelligence into our food systems. This is the future, and Nigeria is leading the way,” she added.


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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