Category: Business Day

The Minister of Works, Dave Umahi, has expressed concern over calls for his resignation following the deplorable condition of roads across the country, saying he does not know why his position has become a source of worry to many people.

The minister spoke while addressing journalists at the flag-off of the Federal Government’s takeover of the temporary rehabilitation of the Benin-Asaba Highway.

Umahi, who said he opposed the concession when he was appointed minister because of the cost, added that the road was concessioned by the previous administration of President Muhammadu Buhari.

‘Let me explain that this concession was executed by way of contracts by the previous administration. And even as the Minister of Works, I opposed it because I know the cost of one kilometre of road if you want to do it well.

‘First, we had a fight for over six months because I didn’t want this road to be reconstructed. Now they removed asphalt pavement because they had signed an agreement with the previous administration to have the road done.

‘And when we asked them to start, the Governor of Edo State and myself, we didn’t quite understand the PPP arm of the Ministry of Works.

‘We were here in October and we saw that contrary to the agreement and the specification and general conditions of contract, the concessionaire lacked engineering capacity and engineering knowledge, and even finance.

‘We saw them removing the asphalt where asphalt pavement was still stable,’ he added.

He said the Federal Ministry of Works had taken over the immediate palliative rehabilitation of the road following public outcry over its deplorable condition.

He said the decision to rehabilitate the road was taken in the public interest.

Meanwhile, Umahi said the 2027 general election was not the turn of the Igbo to produce the President of Nigeria.

Umahi spoke on Thursday while flagging off the Federal Ministry of Works’ formal takeover of the temporary rehabilitation of the Benin-Asaba Highway in Benin City.

The minister was apparently reacting to a statement allegedly credited to Peter Obi, former Governor of Anambra State and presidential candidate of the Nigeria Democratic Congress (NDC), that Umahi ‘is not his match.’

The former Governor of Ebonyi State, who defended the administration of President Bola Ahmed Tinubu against growing criticism, said ‘it’s not the turn of the Igbos yet’ to produce Nigeria’s president.

According to him, when Obi said that he was not Umahi’s match, it took him 10 minutes to think about the statement.

‘Does Peter Obi have a stronger family background, intellectual credentials or record of service to the South-East?

‘Is it what we have done for the people of the South-East? Is it what we did when we were governors? So, when you say he’s not my match, put it side by side and tell me which area Peter Obi is better than me.

‘What we are saying is that it’s not the turn of the Igbos yet. The South-East would eventually have its opportunity to produce the president, but the current political moment belongs to Tinubu.

‘I want to be president, but it’s not yet our turn. It’s the turn of President Bola Tinubu,’ he said.

While rejecting what he described as attempts to portray the Tinubu administration negatively, the minister argued that the Federal Government’s infrastructure projects were benefiting communities across the country.

The minister, who stated that political opportunities would eventually come for the South-East, added that ‘when it is our turn, at the time of God, He makes all things beautiful.’

He further urged supporters of the Tinubu administration to defend the President’s achievements in the South-South, South-East and other parts of the country.

‘We are saying that the President has done very well. In South-South, in South-East and in the entire geopolitical zone, he deserves continuity, he deserves support,’ the minister added.

Also speaking, Edo State Governor Monday Okpebholo alleged that those who fought against former President Goodluck Jonathan in 2015 were also ganging up against President Bola Tinubu ahead of the 2027 general election.

Okpebholo, who said there was no vacancy in Aso Rock, opined that ‘you don’t change a working president.’

‘People that want to contest now against Tinubu have all ruled in one way or the other, either in low capacity or in higher capacity.

‘While they were there, they fought former President Goodluck Jonathan because he wanted to build Almajiri schools to educate youths and Almajiri so that there would be no problem like what we are having today.

‘But they fought him and made sure he lost the election. The same set of people are still ganging up again to fight President Tinubu so that he would not come back. There is no vacancy in Aso Rock. Asiwaju’s eight years must be complete,’ he added.

Okpebholo, who did not name those he alleged were ganging up against Tinubu, however, advised them not to waste their money in the name of contesting the election, saying politicians would only collect their money and would not vote for them.

‘Our President is not a supermarket man, but supermarket people want to rule Nigeria now, even when there is no vacancy in Aso Rock.

‘Let them wait. When it is the turn of supermarket people, and if there is no technocrat, they can contest for president.

‘If others had performed and done what Asiwaju is doing today, he wouldn’t have much work to do,’ he said.

Since the opening of Radisson Blu Anchorage Hotel in Victoria Island, Lagos, its flagship hotel, Radisson Hotel Group, a global hotel chain, has recorded impressive growth in its Nigerian operations.

With a growing portfolio of 13 hotels in operation and under active development, and over 1,700 rooms, the Group is doing well in Nigeria.

In this interview, AHMED RAZA, general manager and district director, Radisson Hotels in Nigeria, shares with OBINNA EMELIKE the secret of the growth, strategies to sustain the feats, key selling points, pipeline projects, the group’s academy, among others.

Excerpt.

Congratulations on Radisson Hotel Group’s impressive inroad in the Nigerian hotel market. What is the group’s portfolio in the country as at today?

We are incredibly proud of the achievements of our teams across the country. Our current portfolio stands at 13 hotels in operation and under active development, totaling over 1,700 rooms.

For a precise breakdown of what we are managing on the ground today, right now, operational focus centers on our four fully active properties, where our teams live and breathe our signature ‘Yes I Can!’ service philosophy every single day namely, Radisson Blu Anchorage Hotel, Lagos, V.I. – Our beautiful 170-room waterfront flagship on Ozumba Mbadiwe.

Radisson Blu Hotel, Lagos Ikeja – A premium 155-room luxury corporate hub in Ikeja GRA featuring our unique loft suites.

Radisson Hotel Lagos Ikeja – Our upscale, highly efficient 94-room business hotel located on Isaac John Street.

Park Inn by Radisson Serviced Apartments Lagos Victoria Island – Offering excellent modern setups tailored for extended corporate stays.

On pipeline developments, nine properties are under active development. We are aggressively expanding beyond Lagos to bring our distinct brand segments into key commercial and political nerve centers:

In Abuja, we are entering the capital in a massive way with the Radisson Collection Hotel and Conference Center in Maitama, alongside a Radisson Blu in the CBD, a vibrant Radisson RED in Wuse, and the Radisson Hotel Abuja Gudu.

In the regional hubs, we are taking the brand into new frontiers, including the Radisson Hotel Benin City (Edo State) and the Radisson Hotel and Conference Center Yenagoa (Bayelsa State), the latter is also tailored to support our partners in the oil and gas sector.

What factors are responsible for the impressive growth?

Our impressive growth in Nigeria is intentional. It is the result of a deliberate, highly strategic approach to navigating this incredibly dynamic market. Having been with the group here since 2017, I can tell you that our momentum rests on four fundamental pillars:

The first is operational resilience and market knowledge.

Nigeria is a market that rewards deep understanding and absolute resilience. We don’t just build hotels; we build systems capable of navigating local structural pressures. Whether it is managing rising operational costs, mastering cost discipline, or optimising supply chains, our teams are highly adapted to the realities of our local business landscape. This operational maturity ensures that our hotels remain profitable and highly attractive to investors even in fluctuating economic cycles.

There is also high ‘pipeline materialisation’ and owner alignment.

One of our biggest competitive advantages is that we actually deliver on our timelines. In the African hospitality sector, there is often a wide gap between signing a hotel deal and actually opening the doors. At Radisson, our development strategy ensures our pipeline properties are under active and collaborative construction. We maintain absolute alignment with our local institutional and private owners, focusing heavily on asset value optimization and long-term financial discipline. When investors see that a partner delivers real, operational revenue-generating assets, their confidence deepens. We are also focused on multi-brand segmentation.

We have moved away from a ‘one-size-fits-all’ approach. By introducing a diverse matrix of brands, we can target completely different consumer demographics and regional needs: Radisson Collection captures the premium, luxury lifestyle corporate crowd in capital hubs like Abuja.

Radisson Blu maintains our upper-upscale corporate dominant standard.

The Park Inn by Radisson brand targets the upper-midscale corporate, regional leisure, and extended-stay markets by delivering a cheerful, uncomplicated, and highly efficient hotel experience.

Radisson (Upscale) and Extended Stay Apartments cater to high-efficiency travel and long-term business contractors.

We are also investing in local talent and the ‘Yes I Can!’ Culture.

We cannot achieve consistent operational excellence without an empowered team. We are fiercely committed to localisation and building Nigerian leadership within our ranks. Our ‘Yes I Can!’ service ethos is lived out by our local ‘Moment Makers’ every single day. By hosting continuous live training workshops via our Radisson Academy platform and charting clear career pathways, we ensure our service standards remain world-class, which keeps guest retention high and drives our revenue metrics.

We are also capitalising on domestic and festive tourism. We have closely aligned our strategies with structural shifts in local travel. For instance, the massive explosion of domestic tourism and cultural phenomena like Lagos’s ‘Detty December’ festive season have turned into serious annual economic drivers. By tailoring our guest experiences and adjusting capacity to meet these massive influxes of the diaspora and regional travelers, we have unlocked incredible value.

What role do the owners and partners play in the impressive growth?

To put it plainly, our owners and partners are the very foundation of our growth. Therefore, our expansion is completely dependent on the trust and financial commitment of our local investors and they play key roles in driving our impressive momentum: Providing Local Capital and Market Navigation.

Our partners bring key financial investment required to build world-class infrastructure in Nigeria. Beyond capital, they provide invaluable local expertise. They navigate local challenges far more efficiently than any foreign entity could, allowing us to focus on operational readiness.

Strategic Alignment and Trust: The gap between signing a hotel and opening it is often a major hurdle in our market. Our growth is fast because our owners share our commitment to high pipeline materialisation. We collaborate openly from day one on financial discipline, asset optimisation, and strict construction timelines.

When owners see that we treat their investments with absolute respect, they choose to build a second or third hotel with us.

Public-Private Partnerships (PPP): Some of our most impactful pipeline growth is fueled by strategic collaborations with institutional and state-backed entities. These partnerships allow us to anchor our brands into crucial economic sectors with strong corporate backing already guaranteed.

Without our owners’ vision and shared risk, Radisson’s ‘Yes I Can!’ philosophy would not have a home in Nigeria.

Why are the Group’s hotels increasingly becoming the preferred choice of accommodation for the Nigerian traveling public?

Seeing our properties thrive daily, the reason the Nigerian traveling public is increasingly choosing Radisson comes down to a deliberate promise that we keep: uncompromising international reliability blended seamlessly with a deep local connection.

When travelers check into our hotels, they are not just buying a room; they are choosing a predictable ecosystem of safety, comfort, and premium experiences: A commitment to structure and infrastructure guarantees.

In Nigeria, premium travelers prioritize security and structural peace of mind above almost everything else. We provide a well secure environment with 100% comfort. Our hotels consistently maintain rigorous safety standards among others. Guests know that when they step inside our doors, the external logistics of the city fade away.

A ‘Bleisure’ Setup (The Perfect Blend of Corporate and Comfort).

The modern Nigerian professional rarely travels just for business or just for pleasure anymore. Our properties are explicitly engineered for ‘bleisure’ travel. For instance, a guest can host a high-level corporate board meeting using our state-of-the-art facilities in the morning, and seamlessly transition to a relaxing scenic dinner overlooking the Lagos Lagoon. We provide efficient workspaces, balanced with premium steakhouses and lively pool relaxation areas, luxury spas and bars.

The power of ‘Yes I Can!’ personalization: Hospitality is ultimately a people business. Our guests’ feedback reveals that what keeps them coming back is our staff, our local ‘Moment Makers.’ We continuously invest in talent development. Our team understands the nuances of local culture and treats every traveler with authentic warmth and high emotional intelligence. This creates a deeply welcoming environment where domestic corporate travelers and international visitors feel entirely at home.

Maximizing the festive and domestic cultural boom: We have deliberately tailored our offerings to align with major cultural shifts, like the massive influx of the diaspora during the annual ‘Detty December’ festive tourism boom.

Instead of offering a static, cold corporate hotel experience, we activate our venues with localised food curation, entertainment, and customised wellness experiences. This agility has transformed our properties from mere accommodation into true social destinations.

Comparing the Nigerian market and others in West Africa, do you think the Group is better positioned in Nigeria and why?

Yes, Radisson Hotel Group is uniquely and decisively better positioned in Nigeria than anywhere else in West Africa.

While markets like Ghana, Senegal, and Côte d’Ivoire are incredibly vital parts of our regional plan, Nigeria represents a completely different scale of opportunity. Nigeria is the powerhouse of our West African strategy. The market dynamics here allow us to build a level of depth and dominance that is not easily replicated in neighboring countries.

We definitely hold the stronger hand in Nigeria: Unmatched market scale and deep segmentation.

In smaller West African economies, a hospitality brand is often limited to one or two properties in a single capital city, usually a single corporate Radisson Blu. Nigeria’s sheer size allows us to execute a multi-city, multi-brand strategy. We aren’t just limited to Lagos. We are scaling heavily into Abuja and penetrating major regional industrial hubs like Benin City, Yenagoa, and more. It seems that no other West African country offers multiple major commercial nodes capable of absorbing everything from our ultra-luxury Radisson Collection to our upper-midscale Park Inn by Radisson.

Industry-leading pipeline materialisation:

Across West Africa, hotel developments famously suffer from extreme delays, often taking up to six years to move from signing to opening. In Nigeria, we have broken that cycle through strict alignment with local institutional and private owners. Currently, 4 out of 5 of our signed Nigerian pipeline properties are under active construction. Because our ‘materialisation rate’ is high, we are physically building out our footprint faster than our competitors can execute their paperwork.

Massive, self-sustaining domestic market: Many francophone and anglophone West African markets rely heavily on foreign direct investment travelers or international NGOs.

Nigeria is entirely different; it possesses an immense, highly resilient domestic traveling public. Even when international travel fluctuates, our hotels stay busy because Nigerian corporate executives, government delegations, and festive leisure travelers move internally in massive numbers. This domestic cushion gives our Nigerian portfolio an economic shield that smaller, expat-dependent markets simply do not have.

Entrenched operational maturity: We opened our first flagship in Lagos back in 2011. Over the last 15 years, we have institutionalised our operations here. We have built strong supply chains, mastered local cost disciplines, and established deep relationships with local authorities. This deep-rooted local expertise gives us a massive head start over brands trying to enter the market fresh. We already know how to navigate the headwinds, making our assets safer and more predictable for investors. Nigeria is the ultimate anchor of our West African presence.

When will Radisson Collection, the Group’s premium brand, open in Abuja?

We are just as excited as the public is! The Radisson Collection Hotel and Conference Center, Abuja represents a monumental milestone for us as our premium luxury lifestyle brand debuts in Nigeria’s capital.

Regarding the exact opening timeline, the project entered its active development phase following our agreement with the legendary Avalon Intercontinental a couple of years back, targeted on a 36-month construction and deployment cycle. As we navigate the final, meticulous phases of fit-outs, luxury detailing, and our uncompromising global hospitality testing, we are systematically marching toward opening our doors in 2027.

We refuse to rush this process because a Radisson Collection property must be completely flawless from day one. However, we have already crossed an incredibly exciting milestone on the ground: Our official Radisson Collection Abuja Marketing Suite is now fully open to the public on Shehu Shagari Way in Maitama.

If you are in Abuja, I highly recommend booking a visit. You can meet our sales consultants, take an exclusive private site tour, and get a firsthand, immersive preview of the spectacular 249-unit layout, ranging from our standard luxury rooms to our expansive presidential suites and the massive 3,000-square-meter conference center.

What do you consider as the key selling points of the Group’s hotels across Nigeria and edge over other brands out there?

Our edge in the market boils down to an uncompromising promise of reliability and execution that other brands struggle to replicate consistently in this environment.

When you look at our properties across Lagos and our upcoming sites, our key selling points and competitive advantages center on four distinct areas: Infrastructure Guarantees: We provide an ironclad operational shield. Our hotels are backed by world-class protocols. Our Radisson Blu Anchorage Hotel, Lagos, V.I. recently verified this by scoring an impressive 87.7 percent in our strict 2026 global safety and brand audit. Guests choose us because the logistical challenges of the outside city disappear the moment they cross our threshold. True ‘Bleisure’ Optimisation: We build our properties to serve the dual reality of the modern traveler.

We do not just offer rooms; we create ecosystem hubs. A corporate guest can utilise state-of-the-art conference halls and enterprise-grade Wi-Fi during the day, then seamlessly transition to a premium steakhouse or a scenic lagoon-front lounge at night.

The ‘Yes I Can!’ Service Culture: Our biggest asset is our people. We invest strategically in local talent development and hospitality workshops. Our Nigerian ‘Moment Makers’ bring deep emotional intelligence and cultural nuance to their roles, delivering world-class service standards that drive immensely high guest retention rates.

Proven Pipeline Materialization: From an investment and brand perspective, our edge is that we actually open our doors. While many international hotel pipelines in West Africa stall indefinitely, 4 out of 5 of our signed Nigerian pipeline properties are under active construction. This track record gives corporate travel bookers and local owners immense confidence in our brand’s long-term stability.

Do you think that Radisson Academy is living up to expectations in terms of training in the Nigerian hospitality industry?

I can tell you that Radisson Academy is absolutely exceeding our expectations and fundamentally changing the talent landscape in the Nigerian hospitality industry.

For a long time, the wider African hospitality sector faced a critical skills gap, especially in specialised areas like revenue management, financial accounting, and senior leadership.

Historically, bridging this meant navigating tough visa barriers to send local staff abroad for professional development.

We broke that barrier entirely when we launched Radisson Academy Live right here in Lagos. By bringing world-class, face-to-face experiential training directly onto Nigerian soil, we have created an incredibly powerful engine for upskilling.

Here is why I confidently say it is delivering on its promise: Positive Learning Engagement: Our team members in Nigeria are exceptionally dynamic. Across our standard online and virtual curriculum featuring over 2,500 programs, our Nigerian team logged an astonishing approximately 80,000+ learning hours in a single year. Each learner averaged nearly 15 rigorous courses, maintaining a near-perfect 4.8 out of 5 satisfaction rating.

Driving ‘Africa for Africans’ Leadership: A key pillar of the academy is our Project Accelerate initiative. This program is explicitly engineered to fast-track high-potential local staff into senior executive roles. We are moving away from relying heavily on expatriate talent; we are actively grooming the next generation of Nigerian hospitality leaders right here.

Comprehensive, Specialised Functional Training: We do not just teach the fundamentals of front-desk service. The academy brings in expert regional and international directors to conduct deep, on-the-job training in complex disciplines. Our teams undergo intensive training in Meetings and Events (M and E) operations, Sales strategy, advanced Revenue Management, and high-level Financial Accounting.

At Radisson, we have a firm corporate cultural ethos: ‘We grow talent; talent grows us.’ Seeing the sharp rise in our operational excellence and the rapid career progression of our local ‘Moment Makers,’ I can tell you that the Academy is precisely the catalyst we needed to close the industry skills gap permanently.

Which is your most successful brand in Nigeria?

Without question, our most successful brand in Nigeria is Radisson Blu. It is the undisputed anchor of our presence here, commanding both the highest market share and the strongest brand equity in our Nigerian portfolio.

The reasons for its overwhelming success from my perspective include: Double-Hub Dominance: Unlike other tiers, Radisson Blu holds a powerful dual presence in both of Lagos’s major economic engines, with our beachfront corporate flagship Radisson Blu Anchorage Hotel, Lagos, V.I. dominating the Island, and the upper-upscale Radisson Blu Hotel, Lagos Ikeja leading premium corporate operations on the Lagos Mainland.

What about your award-winning market leadership?

The brand continues to clean up at major industry events. For example, at the Hotel Managers Conference Africa, our Ikeja GRA location scooped Best in Hotel Operations in-country, and our Victoria Island property won Best Luxury Hospitality Experience in Nigeria.

Do you have a blueprint for future growth?

Radisson Blu has proven so highly profitable and deeply trusted by the Nigerian traveling public, it has given local owners the immense confidence needed to sign our upcoming upper-upscale pipeline projects, like the Radisson Blu Hotel in Abuja’s Central Business District.

governance reforms at FIFA, intensifying pressure on president Gianni Infantino ahead of key meetings next month.

In a statement titled ‘To Unify the Game, FIFA Must Reform,’ the four leagues urged the world football governing body to introduce stronger checks and balances, more independent oversight, and a greater role for stakeholders in major decisions.

The statement marks the first public intervention by the leagues since the collapse of FIFA’s controversial FIFA Forward Enterprise (FFE) proposal, which sought to raise up to $4.2 billion through a commercial subsidiary backed by external investors.

While Infantino has proposed an independent review of FIFA’s governance structure and broader consultations with member associations, confederations, and stakeholders, the leagues argued that limited procedural changes would not address deeper concerns.

‘Football’s longstanding foundations have, in recent years, been threatened by a fundamental governance problem, whereby FIFA’s president has actively promoted exploitative ideas rather than safeguarding against them,’ the leagues said.

‘FIFA’s governance problem goes far beyond the role of one individual. The wider question is whether FIFA’s president should simultaneously wield such regulatory, commercial, and political power without effective checks and balances.’

Leagues seek stronger oversight

The four leagues are calling for clearer constitutional boundaries within FIFA, stronger independent oversight and a meaningful role for domestic leagues and other stakeholders in decisions affecting the global game.

Their intervention follows a legal complaint filed nearly two years ago by the European Leagues Association with the European Union over FIFA’s handling of the international match calendar.

European leagues have repeatedly expressed concern over what they describe as ‘calendar creep,’ with the expansion of competitions such as the Club World Cup and international tournaments placing increasing demands on players and domestic schedules.

The latest intervention comes as Infantino prepares to seek a fourth term as FIFA president at the organisation’s election in Morocco in March 2027.

FIFA governance debate intensifies

Infantino has responded to growing criticism by proposing an independent external review of FIFA’s governance framework for major strategic initiatives, alongside consultations with FIFA’s 211 member associations and six continental confederations.

The review is expected to be discussed at the FIFA Council meeting in Zurich on October 15.

The debate over FIFA’s governance structure is expected to dominate football politics in the coming months, with UEFA’s 55 member associations due to meet in Berlin on October 8 ahead of the FIFA Council session in Zurich.

Nigeria’s oil and gas sector is facing a growing cybersecurity threat as attackers increasingly use smaller companies as entry points to reach larger targets, technology firms have warned.

The warning was issued during a customer engagement hosted by Quomodo in partnership with Check Point Systems in Lagos, where executives discussed the growing use of AI-enabled security tools to protect oil and gas companies.

Stakeholders said the growing use of Artificial Intelligence (AI) by attackers is making cyber threats more difficult to contain, particularly across an industry that remains critical to Nigeria’s economy.

Olufunke Tonye-Preghafi, chief financial officer of Quomodo Systems Africa, said the company had observed increasing attacks targeting the oil and gas industry, with smaller companies potentially serving as a pathway to larger organisations. ‘We are beginning to see an increase of attacks in the oil and gas,’ she said.

According to Tonye-Preghafi, attackers may initially target smaller oil companies rather than going directly after major operators because these businesses can provide a route towards larger companies.

‘So, once you are able to hit small oil companies, they begin to get more intelligent. Then, they will now target bigger companies,’ she said.

The development adds another layer to the cybersecurity risks facing Nigeria’s oil industry, where companies operate interconnected systems, suppliers and service providers.

For smaller operators, a cyberattack may therefore have consequences beyond the immediate victim if compromised systems, credentials or business relationships provide attackers with access to larger organisations. The threat is also being amplified by the increasing sophistication of AI.

Tonye-Preghafi said AI could allow attackers to generate attacks at a scale that would be difficult for conventional security processes to handle.

‘AI can throw out 5,000 prompts and bring out 400,000 attacks,’ she said, stressing the need for organisations across sectors to strengthen their security posture.

For Nigeria, the risk is particularly significant because of the economic importance of oil and gas.

Tonye-Preghafi said more attention was needed to protect the sector, despite its importance to the Nigerian economy. ‘Not much has been done for the protection of the industry,’ she said.

The partnership is also positioning Quomodo as a local route into Nigeria’s enterprise cybersecurity market for Check Point.

Happiness Udo described Quomodo as one of Check Point’s strategic partners and said the Nigerian company provides an important route through which Check Point’s products and solutions reach businesses.

The partnership comes as Nigerian companies face a more complicated digital environment, with cloud services, remote workplaces, connected infrastructure and expanding digital operations creating more points that need protection.

For the oil and gas sector, the challenge is broader than protecting individual computers or corporate networks.

A compromised smaller company can potentially expose information, credentials or connections linked to larger organisations, making cybersecurity increasingly a supply-chain issue.

The growing use of AI by attackers could further shorten the time businesses have to identify and contain threats.

For Nigeria’s oil industry, the shift means cybersecurity is increasingly becoming part of the wider protection of the infrastructure and commercial relationships that keep the sector operating.

Elektron Energy welcomed the leadership of the Lagos State Electricity Regulatory Commission to its 40-megawatt Victoria Island Power Plant on Thursday, using the site visit to underscore its pledge to deliver stable, high-quality electricity to one of Nigeria’s busiest commercial districts.

The inspection drew regulators, developers and engineers to the project site as Lagos State pushes ahead with efforts to modernise its power infrastructure and cut down on the outages that have long frustrated businesses on the island.

Temitope George, chief executive officer of LASERC led the delegation, which included Adekunle Olabode and Adetunji Adesanya.

They were received by Elektron Energy’s Nicholas Abolo Tedi and Oladipo Ogunniyi, alongside Mr. Mika Gummerus, site manager for Wärtsilä, the Finnish engineering group serving as the project’s EPC contractor.

‘We are not just building a power plant – we are building trust with the regulator and the community we intend to serve,’ Tedi told the delegation during a walkthrough of the facility. ‘Every milestone we hit here is a milestone toward putting an end to the power gaps that have held back businesses on Victoria Island for years.’

The tour covered construction progress, near-term milestones and the plant’s operational readiness, giving regulators a firsthand look at a project that Lagos State has positioned as central to its broader electricity market reforms.

40MW Wartsila 34SG gas engine Generators set to power Victoria Island Power Plant

‘What we’ve seen today reflects the kind of discipline and technical rigor that gives us confidence in this project,’ George said, according to a statement from the company.

‘LASERC’s role is to ensure that as Lagos opens its power sector to private investment, that investment translates into real, measurable improvements for residents and businesses. This plant is a strong example of that alignment.’

Olabode, who focused much of his inspection on compliance and safety protocols, said the facility’s progress reflected favourably on the broader push to bring private capital into Lagos’s electricity market. ‘Compliance is not a formality for us – it is the foundation for a market Lagosians can trust,’ he said. ‘What we observed here today meets that standard.’

For Wärtsilä’s Gummerus, the visit offered a chance to speak to the engineering fundamentals behind the project.

‘A plant of this scale has to be built to run reliably from day one – not just at commissioning, but for the decades that follow,’ he said. ‘That’s the standard we’re building to here.’

Ogunniyi, addressing the delegation on behalf of Elektron’s engineering team, pointed to the plant’s design as evidence of its readiness to integrate into the state’s grid once operational.

‘Every system on this site, from generation to interconnection, is being built with reliability as the first requirement, not an afterthought,’ he said.

Lagos State has positioned the Victoria Island Power Plant as a flagship of its strategy to draw private investment into power generation and distribution, an approach regulators say is essential to closing the gap between electricity demand and supply in the state’s commercial core.

Victoria Island, home to corporate headquarters, banks and a dense residential population, has historically relied on a patchwork of grid power and diesel generation to keep businesses running.

Once completed, the 40-megawatt facility is expected to feed directly into efforts to stabilize supply across the island, reducing dependence on backup generation and supporting what officials describe as a more resilient, investment-friendly power market in Lagos.

The visit closed with officials from both sides pointing to the project as a model for how regulators and private developers can work in tandem.

‘This is what collaboration between government and the private sector should look like,’ George said. ‘We intend to keep this level of engagement going until this plant is delivering power to Victoria Island.’

Tedi echoed that sentiment in his closing remarks to the delegation. ‘

We see LASERC not as an overseer standing at a distance, but as a partner in getting this right,’ he said. ‘Reliable power for Victoria Island is the shared goal, and today’s visit is proof that we’re working toward it together.’

Elektron Energy said the plant remains on track toward completion and commissioning, with further regulatory engagements expected as the project advances toward full operation.

In a major boost to the country’s energy transition goals, the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has secured a total of N1.6 trillion in private-sector investment over a 20-month period to expand and modernise Nigeria’s gas infrastructure.

Oluwole Adama, the executive director MDGIF, disclosed this while giving his keynote address at the 2026 Energy conference organised by Association of Energy Correspondents in Abuja on Thursday.

Adama who was represented by Elvis Duruji, director, Strategy, Research and Deal Origination at MDGIF, explained that the investment is supporting 31 projects and 205 infrastructure assets across the country.

He added that the projects have the capacity to deliver about 475 million standard cubic feet (scf) of gas daily to the domestic market when fully operational.

He said, ‘We’ve been able to use about N671 billion to capitalize, attract capitals, of N1.6 trillion. So this is actually the whole objective of the PIA and that is what we’re doing. So the multiplier is approximately 2.4X of capital.

‘ We have 31 projects across every region, we have 205 infrastructures, So we have partnered with 31 projects and we have 205 infrastructures across every region. Then 127 has already commenced projects and 10 commissioned.

Adama noted that the leverage reflected MDGIF’s core mandate of using public funds to reduce investment risks and crowd in private capital.

He said, ‘The fund is a public fund, and we see platforms like this as an opportunity to come and account and state: ‘This is what we are doing.’

Adama explained that MDGIF was not established as a passive funding vehicle but as a catalytic platform designed to make projects bankable.

‘In MDGIF we make projects bankable even projects that may not look financially viable, but have national strategic importance when we subject them to our channel, we end up making them viable.’

According to him, the fund’s interventions had already mobilised private capital at about 2.4 times its own contribution, demonstrating the impact of its derisking model.

‘As we speak, MDGIF has used its own fund to mobilize 2.4X of the private counterparties so we’ve been able to use the fund we have to trigger and reduce the barrier to an extent where we now have many other private investors coming to partner with MDGIF, and this is the success story.’

The MDGIF ED added that the projects in the fund’s portfolio if fully executed, could raise domestic gas supply by about 25 per cent, based on current domestic production of about 1.9 billion scf daily.

‘As of today, if all the projects about 30 partnership projects we’ve run into and 1,205 projects ongoing if they are executed today, they will be churning out about 475 million scf per day of gas into the domestic market.’

On gas flaring, Adama disclosed that MDGIF had partnered four flare-out awardees whose projects, when operational, would monetise 444 million scf of gas daily that would otherwise have been flared, while eliminating about 2,845 metric tonnes of emissions per day.He said the fund had partnered 30 unincorporated joint ventures and one incorporated equipment leasing company, covering 20 CNG mother stations, more than 80 CNG daughter stations and another 75 daughter stations through the leasing company.Among its flagship interventions, Adama listed the 5 million scf mini-LNG plant by Topline Limited in Delta State which he described as Nigeria’s first indigenous mini-LNG project.The project, he said, had spent three years seeking financing before MDGIF’s equity intervention helped unlock an InfraCredit guarantee.

‘That particular project had gone around looking for funds for 3 years, but couldn’t get any. But when they partnered with MDGIF, today that facility will be commissioned in the next 2 to 3 months from now.’Other projects highlighted included CNG infrastructure involving 20 universities, Ibile Oil and Gas in Lagos and Rolling Energy in Abuja.He also noted that the MDGIF’s ultimate objective was to absorb part of the early risks confronting gas projects, making them attractive to lenders and private investors.

Adama explained that MDGIF was not established as a passive funding vehicle but as a catalytic platform designed to make projects bankable.Also speaking at the event, Oritsemeyiwa Eyesan, commission chief executive, Nigerian Upstream Pretroleum Regulatory Commission (NUPRC) said the starting point for sustaining investment in Nigeria’s petroleum industry was economic value, stressing that resources in the ground would not automatically translate into prosperity.’For me, the starting point is economic value. Nigeria has a significant petroleum resource base, but resources in the ground do not, by themselves, create prosperity. This is why our responsibility at the Commission goes beyond regulating activity, we remain focused on creating the conditions that allow good projects to progress without incumberance,’ she said.Eyesan said Nigeria averaged about 1.68 million barrels per day of crude oil and condensate in August 2026, while crude production met the country’s OPEC quota for the fourth consecutive month.She said the development provided a stronger base for Nigeria’s production aspirations of two million barrels per day in the near term and three million barrels per day by 2030.According to her, achieving the targets would require bringing viable shut-in volumes back onstream, reducing production losses and ensuring operators progressed credible work programmes.Represented by Joseph Ogunsola, director, Surface Development at the NUPRC, Eyesan noted that sustained investment would be critical to unlocking the next wave of production, adding that capital would flow where opportunities were matched by clarity and certainty.’Investors need to understand the rules and the timelines before committing long-term capital. This is why regulatory predictability and speed remain important to us.’Eyesan disclosed that since 2024, the Commission had approved Field Development Plans representing more than $57 billion in investment, while 22 major offshore projects expected between 2026 and 2030 carried estimated investment potential of $30 billion to $50 billion.’The priority now is execution. Approvals and investment commitments are important, but their real value is realised when projects move and new volumes come onstream.’The NUPRC boss said the regulator was now focused on staying closer to projects, identifying bottlenecks and resolving them early enough to keep investment decisions moving, while holding operators accountable for their commitments.She said investment was returning to parts of the industry where activity had slowed, while opportunities that had stalled several years ago were being reconsidered.’We have to spend less time admiring the opportunity and more time converting it.

Our role as regulator is not to stand in the way of investment neither is it to lower the standards required to protect Nigeria’s interest.’The task is to regulate in a way that gives credible investors the certainty to deploy capital and the confidence to remain. I have said before that we want to grow the pie, because when you grow the pie, everybody benefits.’

Eyesan said sustaining investment also required Nigeria’s oil and gas industry to remain competitive as investors increasingly considered the efficiency of resource development and production alongside the underlying economics of projects.

She said the Commission’s Upstream Oil and Gas Decarbonisation and Sustainability Blueprint was designed to bring decarbonisation considerations into new developments at the Field Development Plan stage.

According to her, operators would be expected to consider energy efficiency, gas utilisation, flaring and emissions performance alongside the technical and commercial fundamentals of projects.

The NUPRC boss said the approach also covered existing assets through annual work programmes, asset-specific sustainability plans, asset integrity, predictive maintenance and energy optimisation.

She added that energy transition should not be viewed separately from the growth of Nigeria’s upstream sector saying, ‘It is about getting more value from the resources we produce, reducing waste and ensuring that both existing assets and the next generation of Nigerian projects remain competitive.

In his remarks, John Ofikhenua, Chairman of AECAF, said the conference was designed to provoke discussion on how Nigeria could retain and renew investor confidence in the hydrocarbon industry amid the global shift towards cleaner energy.

Ofikhenua, who regretted that investment had repeatedly suffered from major global developments, unfavourable policies and business decisions, cited the United States shale boom, COVID-19 and the global energy transition as developments that had affected investment flows into the petroleum industry.

According to him, the energy transition triggered divestments from Nigeria’s onshore oil assets, but subsequent global developments had again underscored the continuing importance of hydrocarbons to the world economy.

He said the Russia-Ukraine war and other geopolitical developments had demonstrated the continuing strategic importance of oil and gas to global energy security.

‘Surprisingly, it is a simple lesson that the darkest part of the night is usually close to dawn. Today, the narrative is changing in favour of investment in the nation’s hydrocarbon industry.’

Nigeria recorded positive balance in the goods account was driven by a substantial rise in exports to $20.08 billion in Q2 2026, from $15.56 billion in Q1.

Crude oil exports increased by 15.78 percent to $9.39 billion, with gas exports rising by 40.15 percent to $3.63 billion. For many stakeholders, the continued protection of oil pipelines through Tantita Security Services Nigeria Ltd (TSSNL) operations and peace and stability of the Niger Delta bolstered export revenue to $9.39 billion in Q1.

The increases in crude oil, natural gas, refined petroleum products, and non-oil exports in the first quarter of the year did not just happen.

There were key services that shapped these sterling performances.

The operations of Tantita Security Services Nigeria Limited (TSSNL) remain significant contributor to this milestone achievement.

TSSNL, appointed by the Federal Government to protect oil pipelines and other assets, has equally ensured peace and stability in the Niger Delta.

President Bola Ahmed Tinubu appointed TSSNL led by High Chief, Dr. Government Oweizide Ekpemupolo, alias Tompolo. The move enabled TSSNL, through its security operations, to support the national economy in getting the full benefits of oil resources.

Working in collaboration with other security outfits, TSSNL achieved its goals of securing oil assets and ensuring peace and stability in the Niger Delta region.

Tantita’s operations had ensured the security of oil pipelines, achieved uninterrupted flow of petroleum resources, and ensuring that Nigeria migrated from a position of constant loss management to stability, planning, growth and development.

The TSSNL operations have transformed the oil and gas landscape and allowed Nigeria to expand oil production quota and significantly cut rampant oil theft.

Its track record in mitigating risks associated with oil pipelines has positioned it as a reliable partner in preserving Nigeria’s economic backbone.

As stakeholders advocate for the continued collaboration with TSSNL, the imperative of securing oil infrastructure remains at the forefront of efforts to ensure the nation’s sustainable development.

In the development process of any society, certain assets contribute to the advancement of society and its people. These assets ensure economic or monetary benefits for the people. These assets could be regarded as operating assets, non-operating assets or leased assets, among others.

Achievements of Tantita Operations

In the second quarter of 2026, exports of refined petroleum products increased by 66.24 percent to US$3.94 billion within the period. Likewise, non-oil exports rose by 25.30 per cent to US$3.12 billion.

There was also a decline in crude oil imports from US$1.39 billion in Q1 2026 to US$0.58 billion in Q2 2026.

Also, Nigeria’s current account surplus rose 67.93 percent to $7.54 billion in the second quarter (Q2) of 2026, driven mainly by higher export earnings and an increase in the goods account surplus.

According to provisional balance of payments (BOP) statistics by the CBN, the current account surplus increased from $4.49 billion in Q1 2026 and was also higher than the $5.17 billion recorded in Q2 2025.

‘Provisional balance of payments (BOP) statistics for Q2 2026 shows a current account surplus of US$7.54 billion, which was higher than the US$4.49 billion and US$5.17 billion recorded in the preceding quarter (Q1 2026) and corresponding period of 2025, respectively,’ the CBN said.

Overview of Tantita Operations

President General, Niger Delta Progressive Alliance, Nse Victor Udoh, said pipeline protection enabled national institutions to progress from reactive crisis management to strategic foresight, from temporary containment to durable systems-building, and from uncertainty-driven decisions to calculated national ambition.

‘It is important to clarify the role of pipeline surveillance within the wider energy landscape. Energy security encompasses the full value chain, from exploration and production to refining, distribution, pricing policy, and subsidy frameworks. Pipeline surveillance does not manage these domains,’ he said.

He added: ‘Its mandate is precise: safeguarding critical infrastructure that transports petroleum resources. Yet this single function has proven foundational. Without secure transportation channels, production targets falter, refining plans collapse, exports decline, and fiscal projections become unreliable.’

Continuing, he wrote: ‘Asset protection, in this context, is not a supporting activity.

It is a precondition for economic order. In effect, the pipeline is the hinge on which the entire petroleum value chain turns. When that hinge is weak, every other link in the chain carries strain. When it is secure, the entire system gains coherence.’

The immediate impact has been operational. Sustained monitoring and rapid response systems have sharply reduced pipeline breaches and illegal tapping. Receipt rates have climbed toward full recovery, with national output rising to levels not seen in recent memory.

This redirection has restored Nigeria’s credibility in international oil markets, allowing Nigeria to reclaim market share lost to Angola and Libya.

‘Economic stability follows predictability. When crude flows are secure, refineries can plan feedstock intake with assurance. Export commitments can be met without fear of sudden shortfalls. Gas-to-power projects can operate without recurrent shutdown risks’.

‘Investors can assess Nigeria’s petroleum sector with clearer risk profiles. Surveillance therefore does more than stop theft. It reintroduces reliability into national energy planning. And reliability is the bedrock upon which sustainable economic growth is built. With predictable flows, national budgeting becomes more credible, infrastructure planning becomes more precise, and long-term contracts become easier to negotiate. Predictability is the silent currency of modern economies, and pipeline surveillance has begun restoring it,’ he stated.

Further benefits extend into public finance. Higher accounted-for production translates directly into increased export revenues, improved foreign exchange inflows, and strengthened fiscal capacity. National oil company performance in recent years illustrates this shift toward profitability and efficiency, driven in part by reduced losses and enhanced operational continuity.

Investment Opportunities in Oil/Gas Sector

Report quoted saying Chairman/Chief Executive Officer of Brittania-U, Catherine Uju Ifejika, saying the importance of additional investment in mature assets, citing the company’s Ajapa field.

She said more than $400 million was invested after Brittania-U acquired the asset from Chevron, including the drilling of additional wells and deployment of a Floating Production, Storage and Offloading, FPSO, facility.

According to her, the investment enabled Ajapa to commence production at about 2,300 bpd in 2010, followed by increased and more stable output.

The new Nigerian incentives for offshore oil and gas projects have the potential to attract $50 billion in new investment in Nigeria’s offshore energy sector, the NUPRC said.

Nigeria, however, needs upskilled and additional numbers of skilled workers and employees, including in the digital industries, to take advantage of the new offshore opportunities, Eyesan, said at a human resources conference.

According to her, annual investments in Nigeria’s oil and gas industry have slumped to just $2 billion, from $26 billion back in 2014.

Nigeria has shown sustained growth in its crude and condensate output so far this year. Total oil output rose from 1.48 million bpd in February to 1.735 million bpd in June, according to the NUPRC.

Nigeria is actively increasing its crude oil production in response to major global supply disruptions caused by the war in Iran.

‘Today we are attracting new investments and so we want to see an upward trajectory. It stands to reason that you must go back to the basics. First of all, we need the right competencies in sub-surface,’ she said.

As part of the new investment drive, NUPRC has warned 31 companies that emerged winners of 37 oil and gas blocks in the 2025 Licensing Round to pay their signature bonuses within the stipulated period or risk losing their provisional awards.

The commission issued the warning exactly one month after it hosted the commercial bid conference in Abuja, where the successful companies emerged as winners of the available blocks.

The NUPRC said the process of compliance with the payment of signature bonuses had commenced following the issuance of provisional awards to the successful bidders.

‘Exactly a month ago, the NUPRC hosted the 2025 commercial bid conference in Abuja where 31 companies emerged winners of 37 oil and gas blocks. Having issued the winners with the provisional awards, compliance with the payment of signature bonuses has already begun.

‘Winners who fail to pay signature bonuses within the stipulated time frame in line with the Petroleum Industry Act will forfeit their bid guarantee and lose their provisional awards to the reserve bidders,’ the NUPRC stated.

Under the Petroleum Industry Act and the applicable licensing guidelines, successful bidders are required to pay signature bonuses ranging from $3m to $7m per block.

They are also expected to provide the required guarantees, pay first-year rents and satisfy other post-award conditions within the prescribed period. Failure to meet the requirements will result in the automatic transfer of the affected award to the next-ranked reserve bidder, according to the NUPRC.

Deepwater investment revival

Nigeria’s push to revive investment in its deepwater oilfields gained fresh momentum as the Nigerian National Petroleum Company Limited and its partners signed agreements expected to move the proposed Bonga Southwest/Aparo project, estimated to attract up to $21bn in investment, closer to a Final Investment Decision.

The project, located in Oil Mining Lease 118, is expected to become one of Nigeria’s biggest new deepwater developments, with a projected peak production of about 175,000 barrels of oil per day and 140 million standard cubic feet of gas per day.

The NNPC Ltd and the OML 118 Contractor Parties, Shell Nigeria Exploration and Production Company Limited, Esso Exploration and Production Nigeria (Deepwater) Limited and Nigerian Agip Exploration Limited, executed an Addendum to the OML 118 Production Sharing Contract and an Addendum to the Dispute Settlement Agreement.

Also, President Bola Tinubu recently approved the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, designed to improve the competitiveness of Nigeria’s deepwater fiscal regime and unlock fresh investments.

The execution of the addenda showed how the policy reforms were beginning to translate into concrete project development.

The agreements provided evidence that the Federal Government’s reforms were beginning to create a pathway for major investments that had remained uncertain.

The project partners also announced the successful completion of the project’s Pre-Front End Engineering Design phase, another step towards taking the proposed development into the more detailed Front End Engineering Design stage.

The completion of the Pre-FEED work had helped to mature the technical and commercial scope of the project and positioned it for further engineering activities, subject to approvals and other governance requirements.

What it takes to achieve production goals

For many industry experts, Nigeria is expected to combine exploration with aggressive field development and enhanced recovery from existing assets.

According to them: ‘Exploration must be accompanied by aggressive field development, enhanced recovery from mature assets, improved security, infrastructure upgrades and faster regulatory approvals.

‘Nigeria already possesses substantial proven reserves, and the greater challenge is converting those reserves into sustained production rather than simply discovering additional hydrocarbons.

‘Unless these structural constraints are addressed, increased exploration spending alone is unlikely to deliver the higher crude oil output needed to boost government revenue, improve foreign exchange earnings and strengthen Nigeria’s position in the global oil market.

‘Efforts should also be intensified to complete some planned oil and gas projects, including Bonga North, Southwest/Aparo,f Zabazaba, and Etan in order to enhance Nigeria’s oil output.’

Adegboyega Oyetola, Minister of Marine and Blue Economy, has stressed that new investments in Nigeria’s fisheries sector must strengthen, rather than displace, the millions of Nigerians whose livelihoods depend on artisanal fishing and related activities.

Oyetola stated this when he received a team of Turkish fishing investors, CRD Impex, led by Cem Tarhan, in his office, assuring investors of the Federal Government’s commitment to creating an investment-friendly environment capable of attracting credible local and international investment into Nigeria’s marine and blue economy.

This was disclosed in a statement Signed by Bolaji Akinola, special Adviser to the Honourable Minister of Marine and Blue Economy.

The Minister identified inadequate infrastructure, limited access to modern fishing technology, processing and storage constraints, weak cold-chain systems and gaps in market access among the major challenges confronting Nigeria’s artisanal fisheries sector.

He, however, noted that the challenges also presented significant opportunities for investment, particularly in modernising the fisheries value chain and improving the productivity and livelihoods of local fish producers.

According to Oyetola, the Federal Government’s approach is to transform these challenges into opportunities while ensuring that investments in the sector remain inclusive and sustainable.

‘We welcome investors who can bring capital, technology, expertise and modern value-chain solutions to the sector. However, investment must be inclusive and sustainable. It must complement and empower our artisanal fish producers, not undermine their livelihoods,’ Oyetola said.

The Turkish investment team, CRD Impex, said it was in Nigeria to explore investment opportunities in the fishing sector.

Tarhan said the company had extensive experience in fisheries and aquaculture in Turkey and was interested in bringing its expertise and investment capacity to Nigeria.

As part of the engagement, the Turkish investors, accompanied by officials of the Federal Ministry of Marine and Blue Economy, visited several fisheries and aquaculture facilities across the country to assess investment opportunities and gain first-hand knowledge of Nigeria’s fisheries value chain.

Among the facilities visited were the Kirikiri Lighter Terminal in Lagos, Ozumba Mbadiwe Fish Market in Lekki, Lagos, and Esuk Nsidung Beach Market, a major waterfront seafood and trading hub in Esiere Ebom, Henshaw Town, Calabar, Cross River State.

Trade officials, diplomatic missions, business chambers and companies involved in international commerce are set to take their networking beyond boardrooms as the International Trade and Investments Games brings them together for a week of sporting activities in Lagos and Abuja.

Deji Ajomale-McWord, publisher of Globalafri Diplomat and chief organiser of the games, said the idea was to create an environment where people working across Nigeria’s trade and investment system could build relationships outside formal meetings.

‘For the first time in Nigeria, bilateral chambers of commerce, Nigerian MDAs serving in the trade and investment sector, maritime industry, aviation and businesses in the international trade and investment community will gather in an informal forum where we will exercise the body and mind, while deepening camaraderie,’ Ajomale-McWord said.

The games, organised by Globalafri Diplomat, will hold in Lagos from October 16 to 18 and Abuja from October 23 to 25, bringing together representatives of consulates, embassies, trade offices, bilateral chambers, government agencies and businesses.

The programme includes golf, football, chess, tennis, badminton and table tennis, with organisers positioning the activities as an informal setting for participants who ordinarily interact through trade negotiations, investment meetings and official engagements.

The event is an expansion of the Trade Relations Cup, a golf tournament launched in 2024 that brought together players from the diplomatic and business communities. The first edition attracted support from the Lagos State Ministry of Commerce, Cooperatives, Trade and Investments, European Business Chamber Nigeria, Franco-Nigeria Chamber of Commerce and Industry, Delegation of German Industries, Friends of Ireland Nigeria and Nigeria-American Chamber of Commerce.

The latest edition will widen the format beyond golf. In Lagos, the Trade Relations Cup will be held at Lakowe Lakes Golf and Country Club, while the Goal for Trade football tournament will take place at Upbeat Recreational Center in Lekki.

The games are also linked to the Trade Commissioners Summit, a subnational diplomacy initiative that seeks to connect governments with international investors and development partners. The summit was last co-hosted with Afreximbank.

Among the organisations expected to participate are the Nigeria Investment Promotion Commission, Lagos State Ministry of Commerce, Cooperatives, Trade and Investments, Franco-Nigeria Chamber of Commerce and Industry, Federal Airports Authority of Nigeria and Nigeria-American Chamber of Commerce.

The organisers are holding the games ahead of Globalafri Diplomat’s international trade edition, which will feature Wamkele Mene, secretary-general of the African Continental Free Trade Area.

For businesses and trade officials, the sporting programme offers another route for interaction at a time when commercial diplomacy increasingly involves relationships between government agencies, foreign missions, chambers and the private sector.

The organisers said the objective is to use the informal setting to strengthen relationships among people involved in international trade and investment, with the expectation that some of those connections will extend beyond the sporting activities.

Manchester City have been found guilty of 114 of the 115 charges relating to alleged breaches of the Premier League’s financial regulations following an investigation into the club’s financial conduct.

The reported decision by an independent commission, first disclosed by David Ornstein of The Athletic, could have significant sporting and financial consequences for the Premier League champions, with sanctions yet to be determined.

Manchester City are expected to appeal the verdict and any sanctions imposed, while the full range of punishments remains available to the commission.

A City spokesperson told The Athletic that the Premier League process remains ongoing and subject to strict confidentiality, adding that the club’s position remains consistent with its February 2023 statement.

‘The club has diligently respected due process for eight years on the basis the Premier League board and executive would behave as an independent, impartial and fair-minded regulator, free from partisan influence,’ the spokesperson said.

The charges relate to alleged breaches between 2009 and 2018, including accusations that City failed to provide accurate financial information concerning revenue, sponsorship income, and payments to players and coaches.

The Premier League also accused the club of breaching UEFA’s financial fair play regulations and its own profitability and sustainability rules. City have consistently denied the allegations.

Sanctions could include points deduction, expulsion

If the reported findings are confirmed and sanctions imposed, Premier League Rule W.51 gives the independent commission a broad range of options.

Potential punishments include a reprimand, financial penalties, and points deductions, while the most severe sanction could be expulsion from the Premier League.

A points deduction could be imposed going forward or applied retrospectively, potentially affecting City’s previous league records and titles.

James Hill, a legal director specialising in sports regulatory matters at Onside Law, told The Athletic in 2023 that a points deduction would generally be expected to apply going forward rather than alter historical title outcomes.

Under Rule W.51.7, the commission can combine sanctions or impose other penalties it considers appropriate. Any punishment must be proportionate to the breaches and could be challenged on appeal.

Eight-year financial dispute

The investigation began after Der Spiegel published leaked financial documents concerning City in November 2018.

Man City were accused of failing to provide complete and accurate financial information and of breaching rules covering sponsorship income, player and manager payments and related-party transactions.

The club has previously faced sanctions over its conduct in UEFA proceedings. In 2020, the Court of Arbitration for Sport reduced a UEFA fine against City to £8.8 million after finding that the club had failed to cooperate with the governing body’s investigation.

City also reached a settlement with the Premier League in September 2025 over disputes concerning its associated party transaction rules.

During the period covered by the charges, City won three Premier League titles, two FA Cups, four League Cups, and the Community Shield.

The club has since won five more Premier League titles and its first Champions League under Sheikh Mansour’s ownership.

Pep Guardiola, who left City after 10 years in charge, had previously said he would remain at the club even if sanctions resulted in relegation; Enzo Maresca replaced him.

The reported verdict now shifts attention to the commission’s sanctions and the subsequent appeal process, which could determine Manchester City’s sporting and financial consequences.