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Oil, Gas Free Zone Rakes in $5 Bn FDI – FG

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The federal government disclosed last week that the Oil and Gas Free Zone Authority (OGFZA) has recorded up to $5 billion (about N585 billion) in private Foreign Direct Investment, just as it has provided over 5,000 skilled and semi skilled jobs.
The government also explained that the value of non-oil products increased from $957.305 million in 2006 to $1.398 billion in 2007 and now stands at $1.4 billion dollars.
According to Aliyu Idi Hong, supervising minister in charge of the Commerce and Industry Ministry, OGFZA which has licensed over 120 companies, from 2000 to date representing about 80 percent increase in the number of firms over the last 10 years said the government has equally successfully elevated the free zone into a unique and preferred destination for key players in the oil and Gas Sub-sector of the economy, adding that the Zone provides a full package of incentives and combines the effectiveness of the private sector with the support of the federal government.
The minister who noted that there has been an increase in the revenue earning from the zone by government, stressed that Nigeria Customs Service (NSC) alone realized N5 billion from the zone during the 2006 fiscal year through the collection of goods either manufactured or moving from the zone to customs territory, adding that the Nigerian Export Processing Zones Authority (Nepza), which was set up as an investment facilitation agency responsible for implementing export policies, has so far licensed 23 Free Zones in Nigeria geared towards fostering industrial growth.
Hong stressed that the free zones located in the six geo-political zones of the country have so far created over 40,000 direct and 160,000 indirect jobs, while over N200 billion revenue has been generated through the collection of Customs Duties on goods either manufactured or transiting from there to custom territories. He informed that more than 70 percent of the N55 billion required to develop the Tinapa Free Zone and resort came by way of FDI.
According to him the OKLNG project in Olokola Free Zone commissioned last year is worth $6.7 billion while $2.1 billion of FDI was being presently expended in the Lagos Free Trade Zone by a Singaporean company, adding that more than $120 million would be expended on the Snake Island free zone.
As part of government’s efforts to promote sustainable economic development through exportation facilitated by Nigerian Export Promotion Council (NEPC), Hong said the government last year generated about N1.4 billion, while N957.4 million was realized in 2006, adding that the major products that were exported in the years under review were cocoa, processed leather, rubber, cashew nuts and edible fruits, plastic and polybags, sesame seed and oil, aluminum and articles, sea foods, cotton yarns, woven fabrics, among others.


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Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

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Police in Abuja have uncovered a criminal group making fake diplomatic and government number plates.

Police Uncover Fake Diplomatic Number Plate Syndicate in Abuja

Ahmed Sanusi, commissioner of Police FCT, stated this during a press briefing on Friday.

He explained that criminals use these fake plates to dodge security checks and enter restricted areas.

The investigation started soon after Sanusi took office.

He noticed too many unauthorized cars driving around with official government and diplomatic tags.

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“I immediately ordered a comprehensive investigation into this disturbing trend,” Sanusi said. He noted that these individuals use the plates as a cover to commit crimes and avoid arrest.

The police have already arrested several people caught using the fake plates.

They have also figured out who is making them.

The manufacturers operate outside Abuja, and police are actively hunting them down.

Sanusi kept their names secret so they would not flee.

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He stressed that this is a highly profitable illegal business.

Buyers pay between N500,000 and N1.7 million for a single fake plate.

“This will tell you that they are making such huge expenditure because they have an agenda,” Sanusi explained.

“Now they will face punishment that is bigger than both the cost they incur and the agenda they are planning.”

The commissioner urged residents to report any cars with suspicious diplomatic plates.

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He reminded the public that real diplomatic tags follow a very specific format.

A diplomatic number plate in Nigeria is a special vehicle identification tag issued to foreign embassies, high commissions, and accredited international diplomats.

 

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Gavi Okays $500m for Vaccines, PHCs in Nigeria

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Gavi has approved $500 million to strengthen Nigeria’s immunisation programme, primary healthcare services and long-term vaccine financing.

Gavi Okays $500m for Vaccines, PHCs in Nigeria

The move followed high-level discussions between Professor Muhammad Ali Pate, coordinating minister of Health and Social Welfare,  ]and Dr. Sania Nishtar, chief executive officer, Gavi in Abuja.

The funding, approved under the Gavi 6.0 programme, will support Nigeria’s efforts to accelerate routine immunisation, sustain polio eradication, expand HPV vaccination, strengthen primary healthcare services, and improve long-term vaccine financing.

Speaking during the meeting, Pate said Nigeria was strengthening its partnership with Gavi to accelerate immunisation, expand primary healthcare services, and ensure sustainable financing for vaccines.

He welcomed Gavi’s country-focused reforms, including the introduction of a predictable five-year funding envelope.

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Pate said the US$500 million allocation will enable Nigeria to plan more effectively and deliver life-saving vaccines to more children and vulnerable populations.

The minister also revealed that quarterly visits to primary healthcare centreshad increased from about 10 million in 2023 to more than 45 million, reflecting significant progress in revitalising the country’s primary healthcare system.

Pate welcomed the announcement of a US$600 million pledge by the United States government to Gavi, describing it as a strong endorsement of the alliance’s leadership and the global value of vaccines.

He also commended Nishtar for prioritising Nigeria and praised the closer coordination among Gavi, World Health Organisation (WHO), UNICEF, World Bank, Gates Foundation, and other development partners, describing it as a model that has improved efficiency and aligned support with Nigeria’s health sector reforms.

The minister expressed appreciation to Gavi and its partners for their continued technical and financial support, while calling on state governments to invest more in healthcare and immunisation to complement federal efforts.

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The Journey to Financial Freedom: Priscilla, a PalmPay Agent Now Owns a Store

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For many women, financial independence means the freedom to provide for their families and build a better future. Yet, this remains out of reach due to limited access to opportunities, business support, and secure payment solutions.

Like millions of women in Nigeria determined to be financially independent, Pricillia started with a single PalmPay POS terminal, and as an agent, every successful transaction provided a commission which brought her one step closer to achieving her dream.

Through consistency, discipline, and support from the payment platform, she reinvested her earnings and eventually opened her own provision store.

“I started as just a PalmPay agent with one POS. The consistency of the platform gave me the confidence to expand. With the income I earned, I was able to open my own provision shop.” Priscilla said.

For Priscilla, PalmPay was more than a payment platform. Its secure payment infrastructure gave her the confidence to serve her customers, build trust, and grow her income.

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Today, Pricillia has joined the statistics of SMEs powering Nigeria’s economy and PalmPay continues to support her daily operations, helping her receive payments, as she works towards her next business milestone. Her journey is a reminder that when women have access to secure financial tools and opportunities, they can build lasting economic independence.

Speaking on Pricillia’s journey, Femi Hanson, Head of Marketing, PalmPay said: “Providing a secure platform that users can trust, whether for everyday payments or high-value transactions, is central to our vision of advancing financial inclusion. Priscilla’s story reflects our commitment to supporting the ambitions of Nigerians by providing a platform they can rely on to grow their finances. After all, seamless banking begins with security, and every successful transaction reinforces the trust our users place in us.”

Priscilla stands among thousands of PalmPay agents nationwide who are helping to expand financial access across Nigeria while earning commissions to create sustainable sources of income for themselves.

Every payment tells a story. It begins with trust, the confidence that your money is secure and that financial services are accessible. And when that opportunity reaches women, it creates ripple effects that transform families, strengthen communities, and drive economic growth.

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