Connect with us

General News

NIMASA Allays Stakeholders’ Doubts on Concession

Published

on

Kindly share this post

The Nigerian maritime industry is reaping bountifully from the application of ICT in coastal surveillance following the outsourcing of the specific function to a private firm. Nigeria CommunicationsWeek can report that the 2011 maritime security report indicates that incidents of piracy dropped about 80 per cent following concession. Ziakede Patrick Akpobolokemi, director-general and CEO of Nigerian Maritime Administration and Safety Agency, (NIMASA) said at a one-day stakeholders forum in Lagos that the economic benefits of the outsourcing programmes would soon blossom. He allayed fears expressed in some quarters of the outsourcing such sensitive economic sector to a private concern. He notes that the decision to outsource the maritime security surveillance was taken in the national interest and meets all relevant regulatory approvals. The idea he stated is a strategic concession that provides a platform for tracking ships and cargoes, enforce regulatory compliance and surveillance of the entire Nigerian maritime domain using hi-tech electronic devices. Industry watchers had expressed worries the new arrangement could further compromise the safety of the country’s maritime province. Some expressed the view that the Navy is better placed for such task. But the NIMASA CEO said outsourcing was one of the most effective platforms of achieving desired results which has been successfully tested in other industry sector. Akpobolokemi said the concession agreement will last for an initial 10 years period and gave the cheering news that the partnership had started yielding positive results, owing to reductions in the activities of pirates by over 80 per cent in the last one year. “The agency sought and secured the Ministry of Transport’s approval and support to exploit the opportunities offered by public-private partnership (PPP) in order to acquire the needed operational platforms.” the DG said. The Director-General explained that in the quest to protect Nigeria’s economic interest, its concession initiative was subjected to the rigorous scrutiny of both the Infrastructure Concession Regulatory Commission (ICRC) and Bureau for Public Procurement (BPP) whose statutory mandates were satisfied, as touching the elements of security implications involved. “In the process, the concessionaire is to supply the platforms with surveillance systems, operations crew and maintain them throughout the duration of the concession period,” highlighted the DG, emphasizing that the NIMASA has not relinquished its statutory functions to the concessionaire. “To perform her regulatory functions reasonably, NIMASA needs a mix of operational assets, especially platforms which need huge capital investment, as the level of funding needed to acquire, operate and maintain the requisite platform is enormous and far beyond the resources of the agency,” he stated. He also emphasized that the lack of such platforms has so far constrained the agency from performing the important functions of enforcing maritime safety, and regulations, resulting in the fast deterioration of the nation’s waters, to the point of being ranked, second to Somalia in terms of piracy attacks. Meanwhile, the NIMASA boss assured the gathering that the MoU signed between the Agency and the Nigeria Navy will be reviewed to intensify the safety of the Nigerian water ways. Chidi Ilogu, a maritime lawyer and chairman of the occasion said while NIMASA is strategic in the economic buoyancy of Nigeria, it also needs to placate concerns expressed by individuals and corporate concerns that it needs to do more. Ilogu noted that the concession programme is a welcome idea if it would solve the issue of public workers complacency for optimum results.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

General News

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

Published

on

Kindly share this post

Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over "419"

Halimat Adenike Tejuosho,

A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.

The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.

The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.

The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.

Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.

According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.

 


Kindly share this post
Continue Reading

General News

Afreximbank to Fund 3 New Refineries in Nigeria

Published

on

Kindly share this post

African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

 Afreximbank to Fund 3 New Refineries in Nigeria

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.

“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.

The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.

Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.

According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.

He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”

The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.

Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.

Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.

He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.

“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.

Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.

The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.

 


Kindly share this post
Continue Reading

General News

MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

Published

on

Kindly share this post

The Gathering on 100 has officially concluded its pilot edition, closing out 100 continuous hours of culture, creativity, and community engagement at the National Stadium, Surulere. At the climax of the five-day immersive youth experience, MTN Nigeria and the gatherers of the event unveiled the defining message of the movement: “Live It 100.”

MTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign

The event brought together thousands of young Nigerians in a massive convergence of music, sports, gaming, and creative sessions. From watching the sunrise for four consecutive mornings to actively shaping culture in real-time, attendees experienced a shared journey rooted in endurance and expression.

Operating under a partnership model rather than a traditional corporate sponsorship, MTN stepped back to let the youth lead. The techo embraced the primary narrative that “The Gathering is the fire; MTN is the oxygen”.

Karl Toriola, Chief Executive Officer, MTN Nigeria, said: “The energy we have witnessed here in Surulere over the past 100 hours is proof of the unstoppable spirit of the Nigerian youth. Our strategic intent was to position MTN as the critical engine behind this vibrant youth movement, ensuring the brand is seen as an enabler, not an intruder. The Gathering is the fire; MTN is the oxygen. ‘Live It 100’ is our commitment to powering the platform where the conversation happens. We are giving them the autonomy to lead, while we listen.”

A focal point of the event was the high-stakes Pitchathon segment, which provided a structured arena for startups to showcase working products. Rather than a traditional, heavily branded corporate event, the space felt authentic, unscripted, and transparent, allowing founders to interact directly with expert judges, potential investors, and a live audience.

Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria, shared: “The ideas and partnerships formed over these 100 hours show exactly what happens when corporate Nigeria is finally listening to young Nigerians. We recognise that traditional business engagement doesn’t always work for this generation, which is why we empowered the youth to lead. By supporting The Gathering, we are not just celebrating culture; we are fueling the young Nigerian through youth-led innovation and actively investing in their economic potential.”

Beyond business activity, the event recorded consistent engagement across its programming, providing deep insight into the evolving role of youth within Nigeria’s economy. The sustained 100-hour activity highlighted a growing, resilient base of digitally engaged participants who own their lanes and actively create their own opportunities.

As the event closed, MTN reaffirmed their commitment to expanding the platform, ensuring that The Gathering on 100 will continue to evolve as a vital space for both cultural expression and youth-led economic opportunity.


Kindly share this post
Continue Reading

Trending