Folashade Adeniran - NEWS AGENCY OF NIGERIA

Folashade Adeniran
May, Sat, 2025

Nigerian DJs take center stage with ‘DJAN Mix Master Championship’

338 total views today

By Babajide Awoyinfa

Lagos, May 8, 2025 (NAN) The DeeJay’s Association of Nigeria (DJAN) has launched its groundbreaking mix master championship, a nationwide competition designed to discover, celebrate, and elevate the country’s most talented disc jockeys.

Speaking at a news conference on Thursday in Lagos, DJAN President, Christian Edeh, popularly known as DJ perfect intl, emphasised the significance of the initiative.

According to Edeh, the competition is open to all DJs who are fully registered and compliant members of the association.

He stated: “This is not just a competition – it’s a legacy moment for Nigerian DJs.

“The competition, will run over a three to four month period, and will feature multiple tiers, including state-level showdowns and zonal/regional finals.

“Culminating in a grand national finale scheduled for September 2025 in Lagos.

“For years, we’ve celebrated artistes and performers, but the DJs who drive the sound have remained behind the scenes.

“The DJAN MIX MASTER CHAMPIONSHIP is about putting the spotlight where it belongs – on the deck,” he said.

He said the competition promises life-changing rewards, with the top DJ set to walk away with a ₦5 million cash prize, and a one-year brand contract with sponsors.

He added that there would be opportunities to play on global platforms.

“Runners-up will also receive endorsement deals, stage opportunities, and other major prizes,” he said.

Also, DJ Vickylee, Head of the Organising Committee, said the competition had been carefully designed to ensure fairness, credibility, and wide representation across all 36 states and the FCT.

“We’ve spent months carefully building a championship that not only excites but delivers on merit.

“DJAN sees the competition as a moment for society to acknowledge the evolving role of DJs in culture, events, and youth development,” he said

Similarly, DJ Teazer, National Public Relations Officer of DJAN, expressed this broader vision,stating, “The DJAN mix master championship isn’t just about who’s got the best mix – it’s about raising the bar for Nigeria’s entertainment scene.”

In a goodwill message, the Director-General of the Nigerian Copyright Commission, Dr John Asein, congratulated DJAN on this initiative, emphasising the importance of respecting intellectual property rights.

“DJs are cultural curators – reviving classics, showcasing new sounds, and bringing music to life in ways that connect deeply with audiences.

“Copyright protection is not a barrier – it is the foundation that sustains creativity, rewards originality, and ensures that both DJs and music creators can thrive in a fair and vibrant ecosystem,” he said.

Asein assured that the Nigerian Copyright Commission was ready to support creative professionals, including DJs, through education, enforcement, and the promotion of lawful use of copyrighted works.

He commended DJAN for this initiative and urged all participants to combine talent with responsibility, creativity with compliance, and entertainment with ethics. (NAN)

Edited by Folasade Adeniran

Folashade Adeniran
May, Thu, 2025

General News

Bi-Courtney donates to school for Blind

266 total views today

By Itohan Abara-Laserian

As part of its corporate social responsibility, Bi-Courtney Aviation Services Ltd. on Thursday visited the Bethesda Home/School for the Blind in Lagos, praising the students’ skill and talent.

Bi-Courtney Aviation Services Ltd operates the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos.

Mr Kola Bamigboye, Acting Chief Operating Officer and Head of Premises, said the visit marked part of the firm’s 18th anniversary celebrations.

He said Bethesda had visited MMA2 in 2024, leaving a lasting impression on the staff and management of the terminal.

Bamigboye praised the company’s Founder and Chairman, Dr Wale Babalakin, SAN, for recognising talent and sending the team with gifts.

Presenting a cheque for N2 million, he said: “We were touched by the brilliance, confidence and talent shown during your visit to our terminal.

“The children’s performance and conduct deeply impressed us, planting the seed to support your vital work in any way we can.

“Bethesda Home for the Blind offers hope and education to visually impaired children. Your work is making an immeasurable impact,” he added.

Bamigboye commended the staff for nurturing the children’s potential and giving them a future of dignity and opportunity.

“This cheque, though modest, reflects our heartfelt support and desire to walk alongside you in your important mission,” he said.

He described the gesture as a symbol of respect and commitment to a more inclusive, compassionate society.

Mr Remi Jibodu, Acting Chief Operating Officer and Head of Aeronautical and Cargo, also praised the school’s innovation.

Jibodu said: “The children’s use of their skills, despite visual impairment, inspired us to encourage their excellence and spirit.

“We bring greetings from our chairman, who was moved by their visit to MMA2 and urged us to support them.”

Dr Chioma Ohakwe, Founder of the school, urged parents of physically challenged children to enrol them, not hide them.

She stressed that disability is not the end, citing the academic success of some students in tertiary institutions.

Ohakwe acknowledged ongoing challenges but said the school remains determined to stay relevant and impactful.

She revealed the school has over 200 children across nursery, primary, and secondary levels.

Displaying students’ talents in art, music, and dance, Ohakwe thanked Babalakin for his generous support.

The News Agency of Nigeria (NAN) reports that Bi-Courtney marked its 18th anniversary on May 7 with the unveiling of a 3D Exterior Signage.

Mrs Ajoke Yinka-Olawuyi, Head of Corporate Communications, said the new signage enhances the terminal’s identity and user orientation.

“MMA2 remains a symbol of innovation and private sector excellence in Nigeria’s aviation sector,” she said.

NAN also reports that the company pledged to train staff and studentship on security, to boost safety at the school premises.

Other anniversary activities included music, gifts, and a funfair at the terminal to entertain passengers and mark the milestone. (NAN)

Edited by Chinyere Nwachukwu / Kamal Tayo Oropo

Folashade Adeniran
May, Thu, 2025

Health

PharmAccess, Monitor Healthcare partner on quality care

263 total views today

By Oluwafunke Ishola

International NGO, PharmAccess, has partnered with Monitor Healthcare Ltd. to improve healthcare quality in facilities and strengthen Nigeria’s health system.

PharmAccess Nigeria’s Country Director, Ms Njide Ndili, stated this during the signing of a Memorandum of Understanding (MoU) in Lagos on Wednesday.

Monitor Healthcare is the first non-exclusive licensed partner of SafeCare, a standards-based approach to improve healthcare quality in low-resource settings.

Ndili said the partnership would help implement SafeCare standards aimed at optimising healthcare delivery and improving patient outcomes nationwide.

She added that SafeCare enables Nigerian healthcare providers to assess and improve services using internationally recognised standards.

Ndili stressed that the partnership would help scale SafeCare’s quality improvement approach across more hospitals in Nigeria.

“We lack enough personnel to support every hospital directly, as it requires close collaboration to improve healthcare quality,” she explained.

She said licensed partners would now be trained to use and implement SafeCare methodology across health facilities.

She noted that existing partners include Lagos State Health Management Agency (LASHMA) and the National Health Insurance Authority.

“When Safecare is applied, healthcare outcomes improve, patient satisfaction rises, and quality improvement becomes a reality,” Ndili stated.

She added that SafeCare ratings range from Level One to Level Five, with Five being the highest quality standard.

Ndili urged the government to mandate hospital ratings to help patients understand their facility’s performance and clinical service quality.

Dr Kwasi Bohane, PharmAccess Director of Health Systems, said the goal is to embed quality processes in all healthcare facilities.

He added that achieving this would help Nigerians access better, more reliable care across both public and private hospitals.

Dr Femi Ogunremi, CEO of Monitor Healthcare, said the partnership would amplify quality’s role in health outcomes and universal health coverage.

Ogunremi noted that poor healthcare quality causes avoidable deaths and affects productivity and economic development.

He said the collaboration would help tailor SafeCare services to health facilities based on identified gaps in service delivery.

The News Agency of Nigeria (NAN) reports that SafeCare is currently present in over 25 countries and reaches more than 9.5 million patients annually.

According to WHO, poor-quality healthcare causes 5.7 to 8.4 million deaths yearly in low and middle-income nations.

WHO estimates that these results in productivity losses of $1.4 to $1.6 trillion annually in those countries. (NAN)

Edited by Kamal Tayo Oropo

Sanwo-Olu reaffirms support for SMEs, unveils loan initiative

Folashade Adeniran
May, Thu, 2025

General News

Sanwo-Olu reaffirms support for SMEs, unveils loan initiative

280 total views today

By Rukayat Moisemhe and Aderonke Ojediran

Gov. Babajide Sanwo-Olu of Lagos State has unveiled the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) to provide access to finance for Small and Medium Scale Enterprises (SMEs) and registered cooperative societies in the state.

Sanwo-Olu unveiled the initiative at the Adeyemi Bero Auditorium, Alausa, Ikeja, on Wednesday in partnership with Bank of Industry (BoI) and Sterling Bank Ltd

He said the tripartite initiative was designed to break the funding barrier to enable SMEs to access up to N10 million at a single-digit interest of nine per cent per annum without collateral.

LASMECO is a first-of-its-kind public-private financing platform that aims to deliver low-interest, risk-mitigated loans to SMEs across strategic sectors, including healthcare, agriculture, creative industries, manufacturing, and circular economy clusters.

The News Agency of Nigeria (NAN) reports that the initiative is a game changer that will accelerate access to finance for SME business owners in the state by providing a loan of up to N10 million at nine per cent interest rate for two to three years.

The governor advised the beneficiaries to use the money and grow for their businesses judiciously.

“I stand here today filled with pride and hope. Pride in the indomitable spirit of Lagosians, and hope for the future we are building together.

“This occasion, the launch of the joint initiative between the Lagos State Government, Bank of Industry, and Sterling Bank MSME Fund, is not just a formal unveiling of a financing programme.

“It is the unveiling of dreams, the lighting of thousands of small candles that together will illuminate the path to a more prosperous and inclusive Lagos.

“Let me begin with a story that captures why this moment matters. A few years ago, I met a young woman named Bisola in Alimosho. Bisola ran a small tailoring business out of a single shop.

“She had creativity, she had customers, and she had ambition, what she didn’t have was affordable capital to expand. Traditional loans were out of reach without collateral, so for years her dream of opening a small factory remained just that: a dream.

“In 2020, through a Lagos State support scheme for small businesses, Bisola accessed a low-interest loan. With that little boost, she bought two additional sewing machines and hired three apprentices from her community,” the governor said.

The governor further said that there were other Bisola’s that would benefit from the scheme.

Sanwo-Olu commended the contribution of the informal sector to economic growth and development.

“Bisola’s story is not only inspiring, but it is unique. It is one of thousands of success stories our Micro, Small, and Medium Enterprises (MSMEs) have written across this great state.

“From the bustling markets of Balogun and Idumota, to the tech hubs of Yaba, to the bustling garages in Ikeja and the creative studios in Surulere, our MSMEs are the unsung heroes of Lagos’s economy.

“They are the backbone and the heartbeat of our drive toward prosperity. When we talk about making Lagos a 21st century economic powerhouse, it is their energy and innovation that power the engine.

“Think about it, MSMEs account for almost 96 per cent of businesses in our nation and nearly half of our GDP. Here in Lagos, we are proud to host the highest concentration of these enterprises in Nigeria.

“That means millions of our citizens wake up every day as owners of small shops and stalls, founders of startups, operators of restaurants and factories, providers of services and artisans of trade.

“Together, these hard-working men and women employ the vast majority of our workforce and provide livelihoods for countless families. They turn the cogs of commerce in every neighborhood, from Epe to Eko, Badagry to Ikeja,” he said.

Also speaking, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folasade Ambrose-Madebem, described the initiative as a revolutionary financing scheme for MSMEs to provide a single digit non-collateralised loan.

Ambrose said the loan to be given to businesses under cooperatives would unlock the next generation of entrepreneurs in the state.

“So, as we begin this journey today, let us remember that this is not just about launching, it’s about unlocking the next generation of entrepreneurs.

“This is about creating a type of globally grown, globally competitive enterprise that will find its future opportunities.

“It’s about ensuring that whether you’re a young woman in Badagry, a healthcare provider LASMECO will work for you,” she said.

The Managing Director of BoI, Dr Olasupo Olusi, said the bank partnered Lagos State on the initiative to ensure access to finance for MSMEs to tackle poverty and guarantee economic growth in communities.

NAN reports that the highpoint of the event was the signing of the Memorandum of Understanding on the initiative between the Lagos State Government, Bank of Industry and Sterling Bank. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

Coronation Merchant Bank generates over N12.26bn profit in 2024

Folashade Adeniran
May, Thu, 2025

Banking

Coronation Merchant Bank generates over N12.26bn profit in 2024

486 total views today

By Taiye Olayemi

Coronation Merchant Bank says it generated N12.26 billion for the year ended Dec. 31, 2024.

This is a 363 per cent growth from its N2.65 billion generated in 2023.

This is contained in a statement by Mr Paul Abiagam, Acting Managing Director of Coronation Merchant Bank, issued on Wednesday in Lagos.

The company also reported a 285 per cent profit before tax from N3.48 billion in 2023 to N13.401 billion in 2024.

Its total asset also grew from N524.46 billion in 2023 to N558.64 billion in 2024 while its equity soared from N37.33 billion in 2023 to N45.85 billion in 2024.

The earning per share attributable to ordinary shareholders rose from N52.00 to N161.40 in 2024.

The interest income increased from N40.39 billion in 2023 to N70.12 billion in 2024.

Abiagam said, “Coronation Merchant Bank has concluded the year 2024 with remarkable achievements, solidifying its position as a leader in Nigeria’s financial services industry.

“The bank won seven impressive and prestigious awards due to our commitment to delivering value to clients and stakeholders.

“The bank’s accolades include being named the Best Investment Bank in Nigeria at the World Finance Awards for a record seventh consecutive year.

“Additionally, Coronation Merchant Bank was celebrated as The Most Outstanding Merchant Bank for 2024 at the BrandCom Awards and recognised as the Best Social Media Merchant Bank at the Digital Jurist Awards.

“At the FMDQ Awards, the bank secured honours in four key categories: Most Diverse Issuer on FMDQ, FMDQ Registration Member (Quotations), Most Active Securities Lodgement Sponsor, and Largest Issuing House on FMDQ.

“These recognitions underscore the bank’s pivotal role in advancing Nigeria’s capital markets and fostering financial innovation.”

Abiagam noted that beyond these accolades, Coronation Merchant Bank achieved more significant strategic milestones in 2024.

He said the bank successfully facilitated major capital-raising transactions, launched the Coronation Vintage Naira and Dollar Accounts, and introduced VISA Cards, expanding its payment solutions.

According to him, the bank also secured triple certifications, affirming its dedication to global standards of quality, security, and service excellence. (NAN)

Edited by Dorcas Jonah/Olawunmi Ashafa

Long-term financial planning, risk management crucial to secure retirement – NAICOM

Folashade Adeniran
May, Thu, 2025

Economy/Business

Long-term financial planning, risk management crucial to secure retirement – NAICOM

263 total views today

By Taiye Olayemi

The National Insurance Commission (NAICOM) says long-term financial planning and risk management are crucial for securing a comfortable retirement.

Its Chief Executive Officer, Mr Olusegun Omosehin, said this during the 2025 edition of Inspenonline Retirement Summit on Wednesday, in Lagos.

Omosehin, who was represented by Mr Julius Odidi, Lagos Director of NAICOM, said individuals must prioritise early planning and saving for their retirement to ensure financial stability and security in their golden years.

The theme of the summit is “Attaining Good Retirement Amid Economic Headwinds”.

The Commissioner for Insurance said that financial planning was essential due to growing complexities retirees face in an era defined by inflationary pressures, market volatility, and shifting demographic patterns.

He said, “The reality today is that more individuals are approaching retirement with concerns about income sustainability, healthcare costs, and the adequacy of their pension savings.

“These economic headwinds are not merely statistics, they represent the lived experiences of millions of our citizens. As regulators, insurers, pension administrators, and policymakers, we must rise to this challenge with innovation, empathy, and resilience

“From the insurance sector’s perspective, retirement planning must be rooted in long-term financial protection and risk management.

“Products such as annuities, life insurance, and retirement savings plans are not just financial instruments, they are vital tools for peace of mind in later life. We must work to ensure these tools are accessible, transparent, and align with the evolving needs of our aging population.”

According to Omosehin, the economic headwinds confronting retirees could be surmounted through coordinated action, strategic foresight, and trust in financial instruments, institutions and systems.

He said to navigate the period effectively, policy alignment and regulatory reforms must be focused on.

He noted that product relevance and accessibility as well as financial literacy and consumer empowerment must also be priotised.

“We must ensure that our policies across the insurance, pension, and financial sectors are not working at cross-purposes.

“Regulation must be enabling, responsive, and focused on long-term value rather than short-term gains.

“Industry must invest in designing affordable, relevant, and inclusive retirement products, especially for the informal sector, which constitutes a significant portion of our population.

“Micro-insurance and digital platforms hold tremendous potential in this regard,” he said.

Omosehin urged insurers, and regulators to collaborate, innovate, and advocate for policies and practices that will ensure every Nigerian retiree have the means to survive and the resources to thrive.

“At NAICOM, we remain committed to deepening insurance penetration, strengthening consumer confidence, and fostering partnerships across the financial services system.

“We are actively engaging with stakeholders to develop frameworks that enhance the integration of insurance and pension systems, especially in addressing longevity risks and post-retirement income security,” he said.

Also, Mr Akinjide Orimolade, Managing Director, Stanbic IBTC Insurance Ltd. explained the rudiments of the company’s new plan known as “Sunset Benefit Plan”, which allows for effective planning ahead of retirement.

The Chairperson, Nigeria Labour Congress, Lagos Chapter, Funmi Sesi, called on all levels of government to ensure full compliance with the Contributory Pension Scheme (CPS) as only six states were currently complying.

Sesi also emphasised the importance of prompt payment of gratuity to workers, stressing that delayed payments could cause financial hardship and uncertainty for affected employees.

Meanwhile, Mr Chuks Okonta, Publisher of Inspenonline and organiser of the Retirement Summit, stated that the event aimed to shift the narrative around retirement.

According to Okonta, many people view retirement as a daunting prospect, fearing financial uncertainty.

He said: “We want to change this perception, our goal is to empower individuals to plan effectively for retirement, enabling them to look forward to this phase of life with joy and confidence, rather than fear and uncertainty.” (NAN)

Edited by Olawunmi Ashafa

Align African engineering education with global standards – NSE

Folashade Adeniran
May, Thu, 2025

Oil & Gas

Align African engineering education with global standards – NSE

320 total views today

By Yunus Yusuf

The Nigerian Society of Engineers (NSE) has emphasised the need to align African engineering education with global standards, while adapting such standards to local realities.

The society also called for greater investment in infrastructure, partnerships, and digital tools to bridge the gap between academia and industry.

Mrs Margaret Oguntala, President of the NSE, made this call during her panel remarks at the African Content Collaboration Session of the 2025 Offshore Technology Conference (OTC) held on Wednesday in Houston, Texas, U.S.

The News Agency of Nigeria (NAN) reports that the session has as its theme, “Local Content Development and Partnership for Africa’s Energy Sustainability”.

It focused on advancing engineering capacity and energy innovation across the continent.

Oguntala outlined key strategies for aligning African engineering education with international benchmarks.

She said that these include curriculum and faculty development, stronger engagement with industry, accreditation processes, and fostering innovation.

She emphasised the importance of developing syllabi that reflect global best practices while building local talent pipelines.

“In Nigeria, we have begun implementing an Outcome-Based Education (OBE) system, which prioritises technical competencies over theoretical knowledge.

“This is a significant step forward for engineering education in Africa,” she said.

Oguntala also highlighted Nigeria’s efforts toward global recognition, noting that the Council for the Regulation of Engineering in Nigeria (COREN) is a provisional signatory to the Washington Accord, an international agreement promoting outcome, based engineering education.

“This progress underscores the importance of collaboration between government, academia, and industry.

“The government must be intentional in funding institutions, providing modern training facilities and equipment to ensure hands-on learning for engineering students,” she added.

In the spirit of regional collaboration, Oguntala revealed that Nigeria is mentoring engineering boards in Kenya and Ghana to adopt similar standards.

According to her, this aims to strengthen the continent’s engineering talent base.

She, however, said that inadequate funding remained a major challenge.

“The Nigerian Content Development and Monitoring Board (NCDMB) is playing a supportive role.

“For example, an innovation hub is being developed in partnership with the University of Lagos, and we need more initiatives like this to expose students to emerging technologies,” she said.

Also speaking at the event, Mr Walter Akpani, Managing Director of Providus Bank, stressed the importance of supporting Small and Medium Enterprises (SMEs) as key drivers of economic growth.

“SMEs are often overlooked in the oil and gas value chain, but they are crucial,” Akpani said.

“There is no one-size-fits-all financing template; institutions must understand the unique transactional dynamics of each SME.”

He noted that high naira-based financing costs are a barrier to SME sustainability, advocating for more flexible funding options.

“Dollar-denominated financing, despite exchange rate concerns, may offer more affordability in the long run,” he added.

In a related presentation, Mr Emmanuel Emefienim, Managing Director of Premium Trust Bank, represented by Executive Director Mrs Bukola Awosanya, discussed financial de-risking strategies for the oil and gas sector.

“Banking is fundamentally about providing funds and ensuring repayment.

“Within the oil and gas sector, which has a complex value chain, financing models must be structured to manage or transfer risk effectively,” she said.

Awosanya described the African Energy Bank initiative as a promising model for pooled funding.

“Oil and gas projects typically require substantial, long-term financing.

“Financial institutions must collaborate with energy firms and adopt structures that ensure timely access to funds and risk mitigation,” the managing director stressed.

She noted that long-term loans should be viewed as strategic balance sheet items, and that alternative financing tools could further support sector development. (NAN (www.nannews.ng)

Edited by Olawunmi Ashafa

CFG Africa introduces Naira fixed income fund

Folashade Adeniran
May, Wed, 2025

Business

CFG Africa introduces Naira fixed income fund

302 total views today

By Olawunmi Ashafa

As a response to the growing need for stable and reliable investment opportunities in the nation’s dynamic economic landscape, CFG Africa has introduced the GFG AM Naira Fixed Income Fund.

The launch event, which took place in Lagos on Wednesday, gathered key stakeholders, investors, and the CFG Africa leadership team.

The CFG AM Naira Fixed Income Fund is a managed open-ended unit trust scheme designed to provide investors with investment liquidity, diversification, and competitive returns through investments in high-quality Naira-denominated fixed income securities.

This fund is tailored for individuals, corporates, high net worth investors, and institutions seeking stable and reliable investment growth.

Speaking during the launch, Mr Babajide Lawani, the Managing Director of CFG Africa Ltd., emphasised the strategic importance of the Fund.

“The introduction of the CFG AM Naira Fixed Income Fund is a deliberate step in expanding our capacity to serve a broader spectrum of investors.

“It allows us to channel capital into stable, Naira-denominated assets, contributing to a more resilient and inclusive financial market in Nigeria.

“This launch demonstrates our proactive approach to addressing market dynamics and providing solutions that meet the long-term investment goals of our clients.

“We believe this fund offers a crucial avenue for Nigerians to participate in stable investment opportunities, contributing to their financial well-being and the broader economic landscape.”

Also, Mr Adedoyin Wilson-Diamond, Chief Investment Officer of CFG Africa Ltd., added, “In a dynamic economic environment, preserving capital and achieving consistent returns are paramount.

“The CFG AM Naira Fixed Income Fund has been meticulously structured to navigate market fluctuations and deliver competitive yields through prudent investment in quality Naira-denominated assets.

“Our active management approach will ensure we capitalise on opportunities while effectively managing risk,” he said.

CFG Africa views the current macroeconomic landscape as an opportune moment to introduce such a fund, providing a hedge against volatility while offering consistent returns.

The fund’s assets will be held by an independent custodian, Rand Merchant Bank Ltd., with AVA Trustees Ltd. acting as the independent trustee, ensuring the highest standards of security and governance.

CFG Africa remains committed to providing innovative and accessible financial solutions that empower individuals and institutions to achieve their financial goals. (NAN)

Edited by Folasade Adeniran

NGX honours Pascal Dozie with heartfelt tributes

Folashade Adeniran
May, Tue, 2025

Business

NGX honours Pascal Dozie with heartfelt tributes

305 total views today

By Taiye Olayemi

The Nigerian Exchange Group (NGX) on Tuesday gathered capital market stakeholders to honour late financial icon, Dr Pascal Dozie, who passed on April 8, aged 85.

Born on April 9, 1939, Dozie was a pioneer in Nigeria’s financial landscape, revered for founding Diamond Bank and chairing Pan-Atlantic University.

Dozie also served as President of the Nigerian Stock Exchange, now NGX Ltd, where he led pivotal reforms and inspired market transformation.

The event, with the theme ‘An Afternoon of Tribute and Closing Gong Ceremony‘, celebrated Dozie’s enduring legacy and visionary leadership.

NGX Group Chairman, Alhaji Umaru Kwairanga, praised Dozie’s impact on Nigeria’s capital market, describing him as a leader of unmatched humility.

“Today, we celebrate a life of integrity, purpose, and service,” said Kwairanga, encouraging others to mirror Dozie’s entrepreneurial spirit.

He recalled Dozie’s presidency of the Exchange as a cornerstone in building a transparent and sustainable financial ecosystem.

Kwairanga added that Dozie’s foresight and institutional reforms extended confidence across Africa’s markets.

Dr Ernest Ndukwe, MTN Nigeria Chairman, hailed Dozie’s strategic leadership, which catalysed innovation and broadened market participation.

He praised Dozie’s economic insight and philanthropy in healthcare, education, and community development.

“His influence at MTN was stabilising and profound. Nigeria must now carry his torch,” Ndukwe urged.

Chairman, Lagos Chamber of Commerce and Industry, Gabriel Idahosa, described Dozie as a steward of institutions whose leadership transcended borders.

Nigerian Economic Summit Group (NESG) Chairman, Mr Olaniyi Yusuf, noted Dozie’s founding role in the Summit Group, driving transformative economic dialogue since 1993.

Mrs Elizabeth Ebi of Futureview Financial Services called Dozie a mentor and praised his groundbreaking Exchange leadership.

She encouraged his children to advance his legacy through their work in the capital market.

“I called him Uncle — his support shaped my career,” Ebi said, recalling his influence before she became Nigeria’s first female stockbroker.

NGX Regulation Ltd. Chairman, Mr Olufemi Akinsanya, remembered Dozie as a humble reformer and trailblazer in digital banking.

“Diamond Bank, under Dozie, pioneered banking digitisation. His quiet leadership changed the financial sector forever,” he said.

Uzoma Dozie, speaking for the family, thanked NGX for the honour and described his father as a servant leader.

“He was a hustler and a servant—always working so others could rise. His story is of resilience and reinvention.

“Pascal Dozie is remembered not just as a banker, but as a builder of futures, economies, and hope,” Uzoma said. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo

Lokpobiri urges African countries to unite against energy poverty

Folashade Adeniran
May, Tue, 2025

Oil & Gas

Lokpobiri urges African countries to unite against energy poverty

333 total views today

By Yunus Yusuf

Mr Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), has urged African nations to forge a united front in the battle against energy poverty across the continent.

Lokpobiri made the call on Monday during the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S.

The News Agency of Nigeria (NAN) reports that the theme of the 2025 PETAN conference is: “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development”.

The minister stressed the need for Africa to develop cohesive policies that are tailored to the continent’s unique circumstances, warning that fragmented approaches would be ineffective in addressing the escalating energy deficit.

“This conference is not a jamboree. It is a platform for Nigeria, and by extension, Africa—to showcase its vast potential,” Lokpobiri said.

He underscored the importance of regional collaboration, highlighting the Africa Petroleum Producers Organisation (APPO) as a strategic entity established to devise shared solutions for the continent’s energy challenges.

Lokpobiri also expressed his approval of Donald Trump’s return as President of U.S., suggesting it could help decelerate what he termed the “hypocritical” global energy transition narrative, saying,” it has put Africa at a disadvantage”.

According to him, the prevailing global discourse on energy transition is largely influenced by geopolitical considerations.

In response to this challenge, he announced that APPO is in the process of establishing the African Energy Bank to bridge funding gaps and ultimately free the continent from energy poverty.

“This is an opportunity to let you know that your concerns are gradually being addressed.

“As members of APPO, we are in partnership with Afrexim Bank, which during our last meeting disclosed that it has an exposure of nearly $14 billion.

“This amount, along with an additional

$5 billion as the initial take-off capital, will be transferred to the African Energy Bank—bringing the total to over $19 billion,” he disclosed.

He further stated that the African Energy Bank is scheduled to begin operations within the current quarter.

Lokpobiri called on African nations to repatriate investments held overseas and channel them into the African Energy Bank to bolster the continent’s energy security.

During a meeting with his Ghanaian counterpart, Lokpobiri advised Ghana to draw lessons from Nigeria’s past experiences in the energy sector, particularly in avoiding early missteps.

In his address, Ghana’s Minister of Energy and Green Transition, Mr John Abdullahi, acknowledged Nigeria’s leading role in the region.

He stated that while Ghana is a relatively new player in the oil and gas sector, it is eager to learn from Nigeria’s experiences and reforms, especially in the areas of local content development and climate policy.

“We will continue to consult Nigeria as we build a successful oil and gas industry.

“The collaboration between both countries remains strong,” Abdullahi said.

Earlier, the Chairman of PETAN, Mr Wole Ogunsanya, emphasised the significance of Nigeria’s presence at OTC.

Ogunsanya stated that “This year’s event, under the Nigerian Pavilion, is set to highlight Africa’s growing role in the global energy sector.

“OTC 2025 promises to bring together top-tier industry leaders, policymakers, and stakeholders at the world’s largest energy event.”

He noted that PETAN’s consistent participation over the years had significantly contributed to the growth of Nigeria’s oil and gas industry.

Ogunsanya recalled that two decades ago, the Nigerian National Petroleum Corporation (NNPC) tasked PETAN with coordinating Nigeria’s activities at OTC, with the primary objective of attracting investment and fostering strategic partnerships.

He underscored the imperative for Nigeria to continue building capacity and driving value creation across the entire oil and gas value chain.

NAN also reports that the event was well-attended by Nigerian government officials, key stakeholders in the oil and gas sector, exhibitors, and delegates from various West African nations.(NAN)(www.nannews.ng)

Edited by Olawunmi Ashafa