News Agency of Nigeria
Economic reforms: Tinubu deserves second term in office – Rep member
Politics

Economic reforms: Tinubu deserves second term in office – Rep member

193 total views today

 

 

 

 

By Abiodun Lawal

 

The House of Representatives member representing Yewa North/Imeko-Afon Federal Constituency, Gboyega Isiaka, says President Bola Tinubu deserves a second term in office considering the massive reengineering of the nation’s economy.

 

Isiaka stated this at a news conference to showcase his scorecard at the House of Representative in the last two years, on Sunday in Abeokuta.

The lawmaker said that Tinubu’s Renewed Hope Agenda had created the enabling policy framework for meaningful reforms across the nation.

Since assuming office, he added that the President had pursued a reform-driven economic agenda anchored on difficult yet necessary decisions.

“From the removal of fuel subsidy to the unification of foreign exchange rates, these measures have begun to yield measurable outcomes.

“The federal fiscal deficit has narrowed significantly, signaling stronger financial discipline and improved economic management.

“Also, our exchange rate policy has yielded a stable and predictable exchange rate that enhances planning and encourages greater direct investment flows into the economy.

“The recently passed Tax Reform Bill represents a major step forward, optimising revenue collection, reducing leakages, and enable more sustainable investments in infrastructure and social services,” he said.

Isiaka, who is the Chairman, House of Representatives Committee on National Planning and Economic Development, noted that, though, there were still challenges, the reforms had laid the groundwork for long-term stability and shared prosperity.

“The essence of leadership is to take you through the best route that will give you desired results.

“I am convinced beyond reasonable doubt that the path Mr President is taking us to is the best.

“We need to exercise some patience and by the time the President gets his second term, which I am sure by the time he’s sworn in by May 2027 Insha Allah, I am sure we are going to see more better and better days,” he said.

On his constituency projects, he noted that he had empowered over 4,000 constituents through carefully designed intervention programmes spanning key sectors.

“We are intentionally equipping our people with different means to build sustainable livelihoods and foster economic self-reliance,” he said.

The lawmaker also disclosed that in the last two years, he had sponsored five bills and five motions.

“I have sponsored five bills and five motions, one bill passed, two passed second reading and the other two under public hearing stage,” he said.(NAN)(www.nannews.ng)

Edited by Folasade Adeniran

Indigenous solutions vital for Nigeria’s emission reduction goal – Alfa Designs GMD
Oil & Gas

Indigenous solutions vital for Nigeria’s emission reduction goal – Alfa Designs GMD

287 total views today

 

 

By Yunus Yusuf

 

 

 

 

 

 

 

Mr Fatai Quadri, Group Managing Director of Alfa Designs Nigeria Ltd.(ADNL), says Nigeria possesses the inherent capacity to effectively manage fugitive emissions within its borders.

 

He said this during the innauguration ceremony and media facility tour of the company in Lagos on Monday.

 

Quadri emphasised the critical need to cultivate local expertise and infrastructure to address the challenges posed by Greenhouse Gas (GHG) and fugitive emissions, particularly those escaping from industrial equipment and facilities.

 

Quadri said that fugitive emissions, which are often unintentional leaks of gases such as methane and carbon dioxide, represent a significant yet addressable environmental concern in Nigeria’s oil, gas, and industrial sectors.

 

He stressed that, with proper investment in technology, training, and regulation, Nigeria could become a leader in emission monitoring and mitigation across West Africa.

 

“There is no need to rely solely on foreign interventions.

 

“We have the technical talent and innovation potential to manage these emissions right here in Nigeria,” he said.

 

Highlighting the company’s role in advancing sustainable environmental practices, Quadri called for stronger collaboration between government, the private sector, and academia to develop a robust local capacity for fugitive emission detection and management.

 

He also urged policymakers to create enabling laws and incentives that support indigenous solutions.

 

“What we need now is commitment, both from government and industry players, to prioritise environmental integrity through locally driven solutions,” he added.

 

He said that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) guidelines on GHG emissions are aimed at reducing environmental and social impact, caused by the emissions of components of natural gas including methane and other compounds.

 

The expert explained that embracing cleaner technology would help to mitigate carbon output, especially carbon soot being emitted by a fuel engine, contributing majorly to environmental pollution and health hazards.

 

”As it is now, we are supposed to be winding down on all diesel-powered engines in the country, based on the GHG emissions statement.

 

”Nigerian government had already pledged that by 2030 we are going to cut down our methane emissions, stop flaring completely and also do away with carbon soot formation, a bye-product from diesel-fired engines.

 

”We have to do away with all these things because they normally absorb infrared radiation that comes from the outer space.

 

“Once they absorb it, they keep the earth warmer than what is anticipated and that’s the effect on the climate change,’’ he said.

 

Quadri explained that in view of high cost of diesel and the abundance of an alternative energy (gas) in the country, there was need to be economically wise and encourage usage of CNG.

 

”However, staring us in our face is a solution of an alternative that all of us are supposed to come out and really agitate to see how this can be implemented as soon as possible to reduce impact, ” he said.

 

He added that in the bid to promote cleaner and affordable energy in the country, the Alfa Designs Nigeria Ltd., a leading oil and gas company, would soon begin conversion of diesel-powered engines to CNG in the country.

 

He said that Nigeria signed on to the Paris Agreement on Climate Change in Sept. 2016; and, consequently, began the implementation of several initiatives aimed at reducing emissions from all sectors of the economy.

 

“As part of Nigeria’s commitment on the Nationally Determined Contributions (NDCs) to the Paris Agreement, in 2021, it committed to reducing GHG emissions by 47 per cent in 2030, conditional on international support.

 

The pledge followed the signing into law of the country’s first climate bill after the UN Climate Change Conference of Parties (COP26) in Glasgow in 2021, having set an ambitious global net zero targets by 2060.

 

To achieve Nigeria’s emission reduction targets of the NDCs, the key abatement measures are: elimination of routine gas flaring (100 per cent gas flaring eliminated by 2030) and fugitive emissions/leakages control (60 per cent Methane Reduction by 2030).

 

These measures were established under the NUPRC operators’ guidelines on the actions and mechanisms for the management of fugitive methane/GHG emissions from the upstream oil and gas operations.

 

He said that the company had invested between 17 million dollars to 18 million dollars in infrastructures and equipments to enhance Green- House emission control.

 

Ouardri said that the company had selected 13 Nigerians from six geopolitical zones to undergo a “train-the-trainers” course on greenhouse gas (GHG)/fugitive emission detection and quantification, using the EyeCGas 2.0 Optical Gas Imaging Camera.

 

Also, Mr Mubarak Abdul, Chief Operating Officer of ADNL, advised the Federal Government to actively encourage indigenous companies to enhance local capacity in environmental management.

 

Abdul urged both the government and oil and gas companies to engage the services of in-country companies like Alfa Designs Ltd. to address the nation’s emission challenges.

 

He also highlighted ADNL’s partnership with OPTGAL Optronics Manufacturer in Israel to detect and address gas leakages in facilities, noting their extensive work with major companies in Nigeria.

 

Accordinging to him, they icluding Chevron, NNPCL, ND Western, and Seplat.

 

Miss Louisa Kpohearor, one of the trainers, commended Alfa Designs training and certification programmes, which aim to further retrain more Nigerians.

 

She confirmed that they were now verified in Optical Gas Imaging and are capable of conducting investigations and surveys in any oil and gas facility.

 

Miss Oghobi Sandra, another OGI trainer, emphasised that the training provided by Alfa Designs clearly demonstrates their status as the only authorised and certified trainers for detecting gas leakages in facilities.

 

ADNL is an indigenous Engineering, Procurement, Installation, Commissioning & Asset Integrity Management (EPICA) Company, incorporated on July 20, 2006.

 

The company is dedicated to continuously identifying and exceeding client needs in technical expertise through total service delivery.

 

lt also focuses on clear communication, superior performance, talent, teamwork, professional integrity, and cost-effective solutions for its private, government, and energy engineering clients.(NAN)(www.nannews.ng)

 

Edited by Olawunmi Ashafa

Int’l Widows’ Day: Foundation calls for legal, economic support for widows
General News

Int’l Widows’ Day: Foundation calls for legal, economic support for widows

216 total views today

 

 

 

 

By Lydia Chigozie-Ngwakwe

 

A non-governmental organisation, Pa Philip Akintoye Development Foundation (PAPADEF), has called on the Federal Government to urgently review and amend laws that continue to harm widows across the country.

 

The Chief Executive Officer (CEO) of PAPADEF, Mr Akintoye Festus, made the call in a statement on Sunday, to commemorate the International Widows’ Day 2025.

 

The News Agency of Nigeria (NAN) reports that the day, observed by the United Nations since 2011, is celebrated annually on June 23, to raise awareness about the challenges widows face and to push for their rights to be respected and protected.

 

Festus said that the theme for year 2025 commemoration is, “Beyond Grief: Rebuilding Lives, Strengthening Communities, and Challenging Stigma”.

 

According to Festus, the theme calls for urgent attention to the many challenges widows face every day—especially in rural areas where harmful traditional practices remain common.

 

The PAPADEF CEO noted that many widows in Nigeria were suffering in silence due to outdated laws and cultural practices that denied them inheritance rights, economic opportunities, and protection.

 

Festus said that it was time to include widows in national development plans and policy-making processes.

 

“Widows are part of our society — they are mothers, caregivers, and contributors to the economy but many are treated unfairly and pushed aside.

 

“Many widows are treated unfairly after losing their husbands. Some are denied access to property, forced into harmful rituals, blamed for their husbands’ deaths, and pushed into poverty,” he said.

 

Festus noted that thousands of widows were left homeless, jobless, and in deep emotional distress after losing their husbands, with little or no legal support.

 

“Some widows are still being forced to undergo harmful traditional practices or blamed for their husbands’ deaths. These things must stop,” he said.

 

He described the situation as a hidden crisis, with millions of women suffering in silence.

 

Festus said that although there are between 15 and 21 million widows in Nigeria, many of them remained invisible in national planning, data collection, and public discourse.

 

He urged lawmakers to harmonise civil and customary laws, particularly around inheritance and property rights, to stop the cycle of abuse and neglect.

 

The PAPADEF CEO said that real change could only happen when widows were protected by law and empowered to rebuild their lives.

 

He stressed: “Widows are not weak or helpless—they are mothers, caregivers, farmers, teachers, and entrepreneurs who just need support to live in dignity.

 

“Widows are not looking for pity. They want the right to live freely, to earn a living, and to raise their children in peace”.

 

Festus also encouraged the government to include widows in poverty alleviation programmes, job creation schemes, and health and social services.

 

He said: “No widow should be invisible in our development plans. Their voices matter, their lives matter.”

 

He explained that widows often faced serious problems like loss of property, no access to healthcare or education, and are sometimes victims of violence or forced remarriage.

 

Festus said that many widows were hardworking mothers, businesswomen, and caregivers but are often treated as if they do not exist.

 

“Widows are not invisible, and their pain should not be ignored. We must see them, hear them, and support them,” he added.

 

Festus advised that widows should be given economic help, such as business support and job training.

 

He called for the provision of mental health support, grief counseling and legal services, especially in rural areas.

 

He also recommended the inclusion of widows in leadership and policy-making roles.

 

The PAPADEF CEO also appealed to traditional and religious leaders to speak out against dehumanising widowhood practices and help build a more compassionate culture.

 

“Ending stigma starts with changing how we think and talk about widows. We need to listen to their stories and support their journeys,” Festus said.

 

 

 

He said that the foundation would continue to fight for widows and ensure no woman was left behind.

 

“Let this International Widows’ Day be more than a ceremony.

 

“Let it spark real change. We want a Nigeria where widows are not shamed or ignored, but respected and empowered,” he said.

 

PAPADEF is an NGO working for women, children, and community development, and has supported over 500 widows in Nigeria through legal help, business training, health services, and mental health support. (NAN)(www.nannews.ng)

 

Edited by Vivian Ihechu

COREN partners engineering firm to enhance practice in Nigeria
Science & Tech

COREN partners engineering firm to enhance practice in Nigeria

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By Stellamaris Ashinze and Funmilola Gboteku

 

 

 

The Council for the Regulation of Engineering in Nigeria (COREN) has initiated a collaboration with ITB Nigeria Ltd. to advance engineering practice across the country.

 

During a courtesy visit to ITB’s head office in Lagos, the President of COREN, Prof. Sadiq Abubakar, stated that the partnership with the firm would provide training and internship opportunities for young engineers.

 

The News Agency of Nigeria (NAN) reports that while COREN is a statutory body established to regulate the practice of engineering in Nigeria, ITB Nigeria Ltd. is a civil engineering and construction company.

 

NAN reports that COREN president was represented by Vice President, Mr Olaolu Ogunduyile.

 

At the visit, Abubakar underscored the importance of practical experience and skills in engineering practice.

 

He explained that COREN was committed to empowering Nigerian engineers to compete and practice globally.

 

He also noted that COREN was a provisional member of the Washington Accord, an international agreement recognising the equivalence of engineering education and professional competence.

 

“We have seen what you are doing here, but we need collaboration because we cannot achieve this alone. We need training opportunities for younger engineers,” he said.

 

“We believe your efforts will have a significant impact on the nation. This facility, equipped with fibre optics and power capacity capable of generating up to 1.5 gigabytes, is a giant stride forward.”

 

According to Abubakar, COREN regulates all aspects of engineering practice and education in Nigeria.

 

“The council is working on multiple roadmaps to empower Nigerian engineers to be competitive on the global stage.”

 

He highlighted the example of India, which generates about $44 trillion annually through mobility in engineering and technology, reducing pressure on foreign exchange.

 

“If we develop our engineers here in Nigeria, it will create similar mobility.

 

“Even when engineers travel abroad, which cannot be prevented, they will be able to practice their profession effectively wherever they go.

 

“COREN collaborates with several organisations and recently signed an accord to strengthen engineering regulation and monitoring across various sectors.

 

“Our goal is to eliminate issues like building collapses by ensuring strict regulation in all engineering fields.

 

“COREN is not focusing only on the building sector but also on mining, maritime, power, telecoms, and eleven other sectors where engineering practice is critical.”

 

 

ITB’s management expressed gratitude for the visit and appreciation for COREN’s efforts in promoting engineering excellence in Nigeria.

 

They welcomed the opportunity to collaborate with COREN and support the development of young engineers in the country.

 

The Managing Director of ITB Nigeria Ltd., Mr Ramzi Chidiac, led the company’s delegation during the visit.

 

Chidiac pledged to collaborate with COREN on engineering training and certification.

 

He expressed commitment to registering its engineers with COREN, with over 40 engineers already registered.

 

According to the managing director, the company also plans to establish a training school for young engineers and artisans.

 

He said that the proposed training school aims to equip students with practical skills in areas like carpentry, welding, and MEP work.

 

According to him, upon completion, graduates will be certified and potentially absorbed into ITB’s workforce or other industries.

 

‘’This initiative aligns with the Federal Government’s national skill framework, which encourages outcome based education and certification for artisans and young people without formal education.”

 

Both parties agreed to work together to make this initiative a success, with potential involvement from relevant government agencies and industry stakeholders. (NAN)(www.nannews.ng)

Edited by Kevin Okunzua

Lagos Govt. flags off student sensitisation on town planning
General News

Lagos Govt. flags off student sensitisation on town planning

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By Grace Alegba

 

 

 

Lagos State Physical Planning Permit Authority (LASPPPA) on Friday unveiled a sanitation campaign targeting secondary schools across the state.

 

LASPPPA is an agency under the Ministry of Physical Planning and Urban Development.

 

Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, flagged off the initiative, starting with schools in Ikeja.

 

The initiative is part of efforts to inculcate a culture of adherence to good physical planning practices and development among the younger generation.

 

Olumide led a delegation of senior officials from the ministry and LASPPPA to three schools in Ikeja.

 

He said the initiative aligned with the ministry’s mandate on public advocacy and sensitisation, adding that it aimed to deepen students’ understanding and appreciation of orderly physical development.

 

He said the government is serious about physical development issues, highlighting that comprehensive master plans had been documented for every part of the state to ensure coordinated growth.

 

He added that the programme would culminate in an inter-school competition, during which students with outstanding knowledge of physical planning processes will win prizes.

 

While addressing students at Tunwase High School, Ikeja, Olumide explained the adverse effects of unplanned development, such as erosion and environmental degradation.

 

Also speaking, the Permanent Secretary, Office of Physical Planning, Mr Olumide Sotire, said the exercise would inculcate early physical planning values in students.

 

“You are the ones who will take over from us, and it is our duty to guide you along the right path.

 

“We must begin to correct past mistakes to ensure that our state and nation develop like other advanced countries,” he said.

 

The General Manager of LASPPPA, Mr Kehinde Osinaike, said the exercise reinforced the state government’s commitment to public enlightenment and engagement to counter impressions that it is focused only on enforcement.

 

Osinaike thanked Gov. Babajide Sanwo-Olu for approving the school sensitisation initiative and for his consistent support of physical planning and permit processes.

 

In his remarks, the Principal of Tunwase High School, Dr Dare Oguntade, thanked the government for selecting the school and its interest in nurturing future town planners and professionals in related fields.

 

Oguntade added that the interaction with top officials of the ministry might inspire students to consider careers in town planning and allied disciplines.

 

He also assured that the students would share the knowledge gained with their peers and enlighten their parents or guardians on the importance of securing planning permits before any construction.

 

Other schools visited were Mayor Heights Secondary School and Ikeja Senior High School. (NAN)

 

Edited by Olawunmi Ashafa

Galaxy Backbone, NPTF sign MoU on smart policing
Science & Tech

Galaxy Backbone, NPTF sign MoU on smart policing

279 total views today

 

By Jessica Dogo

 

Galaxy Backbone (GBB) and the Nigeria Police Trust Fund (NPTF) have signed a Memorandum of Understanding (MoU) to advance and support the development and integration of smart police stations nationwide.

 

The event, which was held on Friday in Abuja, is seen as a strategic move to advance national security through innovation digital infrastructure.

 

The News Agency of Nigeria (NAN) reports that the MoU is  a commitment of the two institutions to foster a more secure, connected, and technologically empowered Nigeria.

 

Speaking at the ceremony, the Managing Director of GBB, Prof. Ibrahim Adeyanju, emphasised the importance of the collaboration in strengthening digital-led policing.

 

“Today’s agreement represents more than a partnership—it reflects a shared vision for a smarter, more resilient and inclusive Nigeria.

 

“Our collaboration with the Nigeria Police Trust Fund brings cutting-edge technology into the heart of Nigeria’s security architecture through the deployment of Smart Police Stations.

 

“These initiatives reflect our firm commitment to innovation, trust, and nation-building,” he said.

 

He explained that under the terms of the agreement, GBB would provide high-speed fibre connectivity, cloud platforms and secure digital infrastructure to support the deployment of smart police stations in key locations nationwide.

 

“These stations will be equipped with advanced ICT tools to enhance real-time communication, surveillance, data sharing, and operational efficiency within the Nigeria Police Force.

 

“The partnership is expected to significantly improve public safety outcomes by enabling more data-driven decision-making, improved incident response times, and greater transparency in law enforcement,’’ he said.

 

According to him, this initiative reinforces Galaxy Backbone’s strategic role as the digital spine of government operations, enabling secure, interoperable platforms that support innovation, governance and national development.

 

“The agreement with the Nigeria Police Trust Fund is a bold step toward building a more secure and technologically advanced Nigeria,” Adeyanju said.

 

In his remarks, the Executive-Secretary of NPTF, Mohammed Sheidu, said the initiative was part of broader efforts to modernise the police and enhance its effectiveness in maintaining law and order.

 

He also said the partnership would digitalise police station nationwide, adding that it would introduce digital systems for collecting and sorting data as well as connecting police stations to one another.

 

Sheidu further said the goal of the project was to develop a solution that would enable the police to capture intelligence and information effectively.

 

“We want to move policing in Nigeria towards the 21st century and more than police force.

 

“We can only achieve this by strategic collaborations and partnerships with agencies like yours to be able to achieve the digitalisation agenda of President Bola Tinubu.

 

“When we discussed, we talked about how we want to walk into police stations and see digitalised statement forms not having to write on papers.

 

“We can also have a way our police stations are connected to one another,’’ he said.

 

He identified lack of data collection as one of the major problems with the Nigerian Police.

 

“With this, your organisation and our organisation partnering together will be able to put out a solution that will capture this intelligence and information gathering.

 

“We are going to make history by changing the narrative of not just the NPF but the security architecture of Nigeria as a whole,’’ he said. (NAN)

 

Edited by Abdul Hassan/Uche Anunne

Ministry urges women to prioritise nutrition
Gender

Ministry urges women to prioritise nutrition

278 total views today

 

 

 

 

 

By Kemi Akintokun

 

The Lagos State Ministry of Women Affairs and Poverty Alleviation (WAPA) on Thursday urged women to prioritise family nutrition and adopt healthy eating habits for well-being.

 

 

 

Mrs Bolaji Dada, Commissioner for Women Affairs and Poverty Alleviation, made the appeal at a WAPA-organised programme titled, ‘Ounje l’ore awo’.

 

 

 

Dada said the nutrition intervention was designed to inform and address urgent health and dietary needs of grassroots women across Lagos State.

 

 

 

She noted that the programme aligns with Gov. Babajide Sanwo-Olu’s agenda, which prioritises women’s welfare, healthcare, and social protection in state development plans.

 

 

 

According to her, WAPA has reached thousands of vulnerable women through this initiative in various local government areas across Lagos.

 

 

 

The current beneficiaries were selected from Ikosi-Isheri, Kosofe, Agboyi-Ketu, and Ikeja local government areas of the state.

 

 

 

She stated that 250 women from these areas received food items including rice, beans, chicken, vegetables, eggs, garri, oil, and salt.

 

 

 

The Commissioner said: “This initiative is not just about food; it restores dignity, promotes wellness, and empowers women to live healthier and more informed lives.

 

 

 

“We have engaged nutritionists and dietitians to educate women on proper diets, healthy lifestyles, and preventing nutrition-related illnesses.”

 

 

 

She said WAPA’s multi-sectoral approach aims not only to reduce poverty, but to prevent illness and ensure women thrive in health and confidence.

 

 

 

“The role of women in the home and community is vital. When a woman is nourished, the entire household and community benefit,” she said.

 

 

 

Speaking at the event, Mr Olusola Malomo, Chief Dietitian at Ajeromi General Hospital, stressed the need for mothers to adopt healthy eating habits.

 

 

 

Malomo said a balanced diet including vegetables, fruits, fibre, fish, and meat helps prevent diseases that can affect the family and the wider community.

 

 

 

According to him, mothers are change agents at home and in the community, hence they must be well-informed about proper dietary choices.

 

 

 

“The importance of nutrition cannot be overstated, especially now when rising food prices are affecting the quality of meals.

 

 

 

“It is crucial to educate mothers at home because they are the ones responsible for food preparation,” Malomo said.(NAN)

 

 

Edited by Kamal Tayo Oropo

Pension remittance defaulters to be blacklisted from Nov. 30 – PenCom
Economy/Business

Pension remittance defaulters to be blacklisted from Nov. 30 – PenCom

176 total views today

 

 

 

 

 

 

By Taiye Olayemi

 

 

 

The National Pension Commission (PenCom) has warned that organisations failing to comply with pension remittance obligations will be blacklisted starting Nov. 10.

 

 

 

The Director-General of PenCom, Ms Omolola Oloworaran, issued the warning during the commission’s second-quarter media briefing in Lagos on Wednesday.

 

 

 

Oloworaran noted that this was to reinforce PenCom’s adoption of its zero-tolerance approach to non-compliance with the Pension Reform Act of 2014.

 

 

 

She said, “Moving on, it is now zero tolerance for non-compliance with the pension reform act of 2014. Effective immediately, PenCom has launched an uncompromising compliance drive to ensure the pension reform act is complied with by every operator.

 

 

 

“Every organisation, public, private, big or small, must comply with pension remittance obligations. No exceptions, no delays.

 

 

 

“All Pension Fund Administrators and Custodians have been directed to ensure every vendor, service provider and counterparty have a valid Pension Clearance Certificate (PCC) that evidences that they have been up to date and compliant with pension contribution.

 

 

 

“By November 30 this year, any entity without a PCC will be blacklisted and cut off from pension business with all PenCom regulated entities.

 

 

 

“This directive also extend to banks, investment counterparty, parent companies and shareholders of licensed pension funds administrators and custodians.

 

 

 

“All pension fund affiliated entities must enforce the pension clearance certificate requirements across their operators and across all ecosystem and submit our compliance attestations.

 

 

 

“We are drawing the red line, pension compliance is no longer optional, it is existential. Only those who value the future of their employees can participate in this ecosystem and the reward that it offers.”

 

 

 

Oloworaran noted that the commission was seriously committed to rejigging the pension industry to achieve a more robust and inclusive system that supports sustainable economic development.

 

 

 

She said earlier in May, PenCom convened an inaugural pension industry leadership retreat with the theme, ‘Sustainable Retirement: A Strategic Blueprint for Economic Development and Inclusion’.

 

 

 

She explained that four clear pillars emerged from the strategy session.

 

 

 

“First, was infrastructure financing. Long-term pension funds should drive real economic growth and pension fund contributors and retirees deserve real returns.

 

 

 

“This means investment only in the risk, transparent and brand capable products, no shortcuts and no excuses,” she said.

 

 

 

Oloworaran listed the second pillar as legislative partnership, noting that the commission was establishing a Pension Legislature Working Group.

 

 

 

She said that the group would work with lawmakers to institutionalise needed reforms and strengthen the legal framework governing the pension sector.

 

 

 

“The third pillar was the diversification of pension assets. We are revising the investment regulations to open up access to a broader range of alternative asset classes.

 

 

 

“This will be done with full regard for transparency and reinforced risk management,” she said.

 

 

 

The PenCom boss said the fourth pillar focused on revolutionising the micro pensions scheme, which had now been rebranded as the Personal Pension Plan.

 

 

 

“This plan has been re-engineered for scale, technology enablement, and deep penetration into the informal sector.

 

 

 

“We are resetting the industry’s strategic compass,” Oloworaran said. (NAN)

 

Edited by Olawunmi Ashafa

Pension Fund Assets rise to N23.33trn in Q1 2025 — PenCom  
Economy/Business

Pension Fund Assets rise to N23.33trn in Q1 2025 — PenCom  

158 total views today

 

 

 

By Taiye Olayemi

 

 

 

National Pension Commission (PenCom) says the total assets under the Contributory Pension Scheme (CPS) rose to N23.33 trillion as at March 31.

 

 

 

Mr Saleem Abdulrahman, Director of Surveillance, PenCom, disclosed this on Thursday in Lagos.

 

 

 

Abdulrahman said that the figure represented an increase of N820 billion when compared with the N22.51 trillion recorded as of Dec. 31, 2024.

 

 

 

He attributed the growth in pension assets to additional contributions from Retirement Savings Account (RSA) holders and investment income, including gains from the appreciation of equity prices and interest income on fixed-income securities.

 

 

 

Breaking down the pension assets, he said the Retirement Savings Account Funds I–VI accounted for N17.90 trillion or 76.73 per cent of the total pension assets.

 

 

 

He said Existing Schemes accounted for N2.77 trillion or 11.87 per cent while Closed Pension Funds accounted for N2.66 trillion or 11.40 per cent.

 

 

 

“The Pension Fund Assets were mainly invested in Federal Government Securities which accounted for 62.09 per cent of the total Pension Assets as at March 31.

 

 

 

“This is followed by domestic ordinary shares with 11.02 per cent and money market instruments which accounted for 8.91 per cent.

 

 

 

“The Industry portfolio reported annualised year to date performance of 19.29 per cent as at 31 March 2025.

 

 

 

“The commission in collaboration with Financial Sector Deepening Africa (FSD Africa) is organising a workshop on Investment in Alternative Assets, for Chairpersons of the Board Investment Strategy and Risk Management Committees of PFAs.

 

 

 

“The workshop is part of the strategic initiative of the commisison to promote a diversified and safer pension fund investment portfolio in order to enhance the performance of the pension portfolios,” he said. (NAN)

 

Edited by Olawunmi Ashafa

NSE unveils mobile app to boost coordination, national development
General News

NSE unveils mobile app to boost coordination, national development

209 total views today

 

 

 

By Angela Atabo

 

The Nigerian Society of Engineers (NSE) has launched a mobile app to help coordinate its members’ activities, support national development, and tackle the problem of unqualified practitioners in the profession.

 

Malam Kashifu Inuwa, Director-General of the National Information Technology Development Agency (NITDA), launched the app on Thursday in Abuja and commended NSE for the innovation, calling it a milestone in local content development.

 

The News Agency of Nigeria (NAN) reports that the app is designed to enable NSE members to access information, register for projects, and participate in community impact initiatives in support of national development.

 

Inuwa, represented by Mr Salisu Kaka, Director, E-Government and Digital Economy Department at NITDA, said the app would support engineers in delivering on their mandate while also contributing to Nigeria’s digital transformation.

 

He urged the NSE not to limit the innovation to internal use but to share its benefits widely to address broader national challenges.

 

“This innovation aligns with President Bola Tinubu’s digital public infrastructure agenda, a framework aimed at unifying digital service delivery across government institutions for more efficient public services and economic growth.

 

“These digital public goods are technologies developed to solve societal problems. What NSE has done qualifies as such and, with collaboration, it can be adapted and exported to other sectors,” he said.

 

Inuwa noted that the engineering profession is fundamentally about problem-solving, and many of the challenges engineers address are common across sectors and locations.

 

He expressed optimism that, with slight modifications, the app could also be used to tackle similar issues in other industries.

Speaking at the event, NSE President and Chairman-in-Council, Mrs Margaret Oguntala, said the app would improve coordination within the Society by keeping members informed of activities at both the national and branch levels.

 

Oguntala explained that the platform would also promote greater member involvement in social impact initiatives.

 

“Members will now be able to register for community-impact projects and training programmes directly through the app,” she said.

 

She added that the app would serve as a practical tool in the fight against quackery in the engineering profession.

 

“If someone approaches me for a job, I can quickly log into the app to confirm whether the person is a registered NSE member.

 

“If not, the person is also unlikely to be registered with the Council for the Regulation of Engineering in Nigeria (COREN). This will help us to curb the activities of quacks in the profession.

 

“Eventually, we plan to develop a system that allows even non-members to verify registered engineers before awarding jobs,” she said.

 

Oguntala described the mobile application as a contribution to national development, saying it reflects the society’s embrace of digital transformation and its alignment with the digital agenda of the current administration. (NAN)

 

Edited by Tosin Kolade

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