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Fidelity Bank Plc has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme. The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.

Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, disclosed during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.

According to her, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. ‘This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,’ she said.

The facility will cover critical sectors including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.

Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub for small businesses with a special arm – Creativerse, dedicated to the creative industry and the Fidelity Bank Education Support Scheme which provides affordable financing for educational infrastructure and technology upgrades.

‘With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems-without compromising our risk standards or operational efficiency,’ she added. ‘While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.’

Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.

Also speaking at the event, the Managing Director, NCGC, Mr. Bonaventure Okhaimo, emphasised that the organization was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.

‘Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,’ he said. ‘Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.’

Okhaimo added that NCGC and Fidelity Bank will also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.

The Fidelity Bank-NCGC partnership reinforces both institutions’ shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.

Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for enhanced collaboration between the corporation and the Chartered Institute of Bankers of Nigeria (CIBN) in addressing emerging risks and challenges within Nigeria’s banking sector.

Sunday made the call during a courtesy visit by the President of CIBN, Prof. Pius Olanrewaju, and members of his executive team to the NDIC Head Office, Abuja.

He emphasised the need for stronger partnership between both institutions in critical areas such as digital banking, cyber- security, fraud and forgery prevention, and sound risk management.

He noted that while the phenomena of the emerging issues are on the rise, regulators and operators must come together to proffer solutions which help build a stronger financial ecosystem that withstands the vagaries of the innovations to deliver value to the economy.

While commending the growth of the CIBN as a professional body over the years, and its positive impact on the banking system, Sunday further called on the institute to take critical interest in working more closely with regulators to fashion innovative failure resolution strategies that strengthen the overall resilience of the banking sector.

He reiterated the corporation’s commitment to supporting professional institutions such as the CIBN in developing and implementing programs that foster innovation while maintaining sound risk management frameworks and financial system stability.

Olanrewaju congratulated Sunday on his appointment as Managing Director of the corporation.

He expressed confidence in the capacity of the MD/CE to uphold the trust reposed in the Corporation by the public based on his sound track record and expertise.

He particularly commended the NDIC for its notable milestone achievements, highlighting the upward review of deposit insurance coverage aimed at strengthening public confidence in the banking system; the deployment of technology to expedite the reimbursement of depositors of the failed Heritage Bank; and the commencement of liquidation dividend payments within one year of the bank’s closure. Prof. Olanrewaju noted that these accomplishments have significantly enhanced depositor and investor confidence in the financial system.

The CIBN President also expressed appreciation to the NDIC for its invaluable contributions and active role as a member of the Institute’s Governing Council, noting that its participation has greatly strengthened the Council’s oversight functions, policy direction, and ethical leadership.

Nigeria and other Africa’s march towards reaping the benefits of data centre business is under threat because of power paucity and dearth of the required skilled man power to man the sector, experts have said.

The experts including the Chief Executive of Apolo.us and Executive Chair for Data Center Programmes at Informa, Bill Kleyman, CEO of Kasi Cloud, Johnson Agogbua, General Manager for Infrastructure and Cloud Engineering at MTN Nigeria, Roger Shutte, Director-General, National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi; and Executive Director of Africa Hyperscalers, Temitope Osunrinde, said connectivity has become the lifeblood of people across the continent, energy insecurity could halt ongoing transformation.

Kleyman who described Africa as ‘one of the world’s fastest-growing digital markets’ warned that energy shortages could halt the progress.

‘Connectivity is the lifeblood of people. It’s how we live, work and play – and that’s why major organisations are moving aggressively into Africa,’ he said.

He noted that data-center power demand on the continent is growing at between 20per cent and 25per cent annually and could reach 8,000 gigawatt-hours.

‘The industry is at a point where success requires two things: power and bravery,’ he said, adding that global Artificial Intelligence (AI) adoption is raising new challenges – with rack densities climbing from 16 to 60 kilowatts and only about 10per cent of facilities ready for AI workloads.

‘Vision without execution is just hallucination. Africa has a chance to seize its nugget in this digital gold rush,’ he said.

On a panel about scaling to 2,500 megawatt (Mw) of capacity, Agogbua warned that talent, not technology, could become the greatest bottleneck. He said: ‘We’ll solve power and connectivity. But can we train enough people – and keep them here?’

Shutte agreed no less, asking rhetorically: ‘As we skill people up, how do we enable them to stay, to support local businesses, and to provide the digital sovereignty we require?’

Rudman said IXPN is working to ‘domesticate content’ and reduce reliance on international routes.

‘Before now, Nigeria’s networks were largely access networks, always reaching out to content abroad. What we’re doing is keeping that content home,’ he said.

Abdullahi said Africa’s digital shift must pair bold vision with incremental execution and local problem-solving that can scale region-wide, arguing that ‘many global tech giants began as community innovations solving local problems.’

The NITDA boss urged policymakers, innovators, and the private sector to co-create adaptive, data-driven rules ‘so technology serves humanity, not the other way round,’ citing NITDA’s Intelligent Regulatory Framework as a model that evolves with evidence while protecting the public interest. He pointed to Nigeria’s 3 Million Technical Talent (3MTT) program as a way to turn a youthful population into a productive asset. He described AI as Africa’s ‘greenfield opportunity’ to tackle health, agriculture, and SME challenges – not just optimize mature systems. He added that the government is moving to bridge capital gaps through new PPP mediation tools and a National Digital Public Infrastructure linking identity, payments, and data platforms.

Osunrinde laments the disproportionate population of the continent to the number of data centres available.

‘Africa represents 18per cent of the world’s population, yet accounts for less than two per cent of global data-center capacity and under one per cent of compute power. Eighty per cent of our data is still hosted offshore,’ Osunrinde said.

He noted that investment momentum is building fast as global vacancy rates fall below one per cent, citing subsea cable expansions by Meta and Google, and new builds from Visa, Equinix, Raxio, Digital Realty, and Nvidia.

But he warned that 600 million Africans still lack electricity, even as new data centers consume the equivalent of small cities.

‘The challenge is not only to power homes but to power Africa’s digital economy. Governments must fast-track approvals, open telecom networks to competition, and incentivize renewable energy. 50 per cent of a data center’s cost is equipment – imagine the impact if that could enter Africa tax-free,’ Osunrinde said.

The experts spoke during the Hyperscalers Convergence Africa 2025 in Lagos which had ‘The Power of Convergence,’ as its theme.

Across the sessions, one message stood out: Africa’s digital revolution will depend not just on capital or technology, but on coordination – between power grids and policy, between talent and regulation, between public vision and private execution.

Other participants included the Chief Executive Officer, FibreSol, Otuya Okecha; Director, Legal, Equinix West Africa, Abayomi Adebanjo; Chief Executive Officer, Internet Exchange Point of Nigeria, Muhammed Rudman; Country Manager, Nokia, West Africa, Marco Rebecchi; Managing Director, Bayobab, Josephine Sarouk; Managing Director, Koltronics Nigeria/former Group Managing Director, Csquared, Lanre Kolade; Chief Executive Officer, Geniserve, Gbenga Adegbiji; Chief Executive Officer, Elektron Energy, Tola Talabi; General Manager, Infrastructure and Cloud Engineering, MTN Nigeria, Roger Shutte; Chief Executive Officer, IX Africa Data Centres Snehar Shah; and, Head of IP Business, North, West and Central Africa, Nokia, Karim Amer.

Speakers included Guy Zibi, Managing Partner at Xalam Analytics; Shayo Olumide, Vice President, Heavy Industries, Telecoms and Technology at Africa Finance Corporation (AFC); Vivek Mittal, Chief Executive Officer (CEO) of the African Infrastructure Development Association (AFIDA); Ben Roberts, Principal at Digital Economy Advisors; Oguche Agudah, Head, Programme, Pan Africa Fund Managers Alliance and pioneer Chief Executive Officer, Pension Fund Operations Association of Nigeria; Hakeem Adeniji-Adele, Deputy Managing Director, eTranzact; Eero Toivainen, Trade Counsellor West Africa, Business Finland; Bukola Ajayi, General Manager, Architecture and Enterprise IT, MTN Nigeria; Akeem Adeshina, Chief Commercial Officer, IHS Nigeria; and Dr. Ayotunde Coker, CEO of Open Access Data Centres.

A steady power supply is one of the most fundamental needs for businesses and communities alike. This is why Sidi Ould Tah, President of the African Development Bank Group, emphasized: ‘Reliable, affordable power is the fastest multiplier for small and medium enterprises, agro-processing, digital work, and industrial value-addition. Give a young entrepreneur power, and you’ve given them a paycheck.’

Recognising this, the World Bank Group and the African Development Bank Group-alongside key partners like the Rockefeller Foundation, the Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL), and the World Bank’s Energy Sector Management Assistance Program (ESMAP) trust fund-are aligning efforts to power Africa more effectively. Numerous development partners and finance institutions are also supporting Mission 300 through co-financing and technical assistance.

In Nigeria, the drive to expand access to reliable, affordable electricity is gaining momentum-thanks to the efforts of both public and private sector players committed to lasting energy solutions. Among them is Mikano Power, whose approach combines global partnerships and localized innovation. With collaborations involving renowned international brands like ABB and Schneider Electric, Mikano Power designs and manufactures high-quality Low Voltage Switch Boards (LVSBs) and a full range of customized panel solutions. These systems are engineered to address Nigeria’s unique energy challenges while meeting international standards, including ISO 9001 and ISO 45001.

By blending global certification with deep local expertise, Mikano Power delivers solutions that are not only dependable-but world-class. According to Samih Ghraizi, Business Unit Head, Electrical and Lighting Solutions at Mikano Power: ‘Our customized panels are not off-the-shelf products. Each one is designed, engineered, and assembled to meet the specific needs of our clients across various industries.’

From medium- and low-voltage synchronising and load-sharing systems, to motor control centers (MCC), main and sub distribution boards (MDB and SDB), and compact substations, Mikano Power offers versatile and scalable solutions. These systems serve everything from small operations to large-scale infrastructure projects-ensuring flexibility, efficiency, and future-ready performance.

‘The strength of Mikano Power’s customised panel division lies in its ability to deliver end-to-end solutions. From Automatic Transfer Switch Panels (ATS) and Automatic Main Failure Boards (AMF) to advanced Building Management Systems (BMS), Power Factor Correction (PFC), and feeder pillars, the company ensures that every aspect of power distribution and control is addressed with accuracy,’ he said.

These innovations are not theoretical. They are actively shaping how industries like real estate, healthcare, and infrastructure manage their power systems, creating environments where reliability is no longer a luxury but a guarantee. According to him, in real estate, particularly in Nigeria’s growing urban centers, energy infrastructure is one of the defining features of property value. Residential and commercial developments require uninterrupted and efficiently managed power to ensure occupants and tenants enjoy modern living standards. Developers understand that a building is only as good as its utility backbone, and this is why they have found Mikano’s customised panels indispensable.

For example, in high-rise apartments and mixed-use developments, customized distribution boards and bus-riser solutions streamline how power flows from the grid or generator into every floor and apartment. Automatic Transfer Switch Panels (ATS) ensure seamless switching between different power sources, minimizing downtime for residents and businesses.

‘With Nigeria’s real estate sector rapidly embracing smart city concepts as seen in projects like the Eko Atlantic, Mikano Power’s customized panels also integrate Building Management Systems (BMS). These systems allow developers and property managers to monitor and optimize energy consumption, reducing wastage while guaranteeing comfort and efficiency. By offering reliability and cost savings, Mikano Power is helping to raise the benchmark for real estate development across the country,’ Ghraizi pointed out.

It can be safely stated that few sectors rely on reliable power as critically as the healthcare industry. Hospitals, clinics, and laboratories cannot afford power fluctuations or outages, as lives depend on the constant functioning of critical medical equipment. From ventilators and surgical machines to refrigeration units for vaccines and medicines, every device requires a secure and consistent supply of electricity.

Mikano Power’s customised panels provide the safety and resilience healthcare institutions demand. Automatic Main Failure Boards (AMF) and synchronizing systems ensure immediate backup in the event of a power cut. Distribution boards are designed to manage load effectively, preventing surges or outages that could damage sensitive equipment. He added: ‘What distinguishes Mikano Power’s approach is the ability to tailor solutions to the unique operational needs of medical facilities. A small clinic in a semi-urban community may need a compact substation built to withstand harsh weather while maintaining stable output. By contrast, a large teaching hospital in Lagos might require a complex integration of motor control centers and load-sharing systems. Mikano’s expertise allows it to deliver both ends of the spectrum with equal precision.’

Beyond reliability, these customised solutions align with international safety standards, offering healthcare providers peace of mind that their operations are backed by globally certified systems. For the medical sector, Mikano Power is not just delivering equipment but helping safeguard lives. On the other hand, Nigeria’s infrastructural development from roads and bridges to airports, railways, and public utilities – depends heavily on robust power management systems. Large-scale infrastructure projects often involve multiple contractors and require power systems that can integrate seamlessly across various components.

Ghraizi said Mikano Power’s customised panels play a central role in this sphere by ensuring efficient and reliable power distribution for complex, high-demand environments. Feeder pillars and compact substations are built to withstand extreme weather conditions while maintaining stable internal temperatures. Strategically placed vents allow natural air circulation, reducing overheating risks, while centralized transformer positioning makes maintenance easier and safer. It was gathered that such features are particularly vital in infrastructure projects like transport hubs or industrial complexes, where downtime can disrupt not just operations but entire supply chains. By delivering solutions that are durable, safe, and globally certified, Mikano positions itself as a key enabler of Nigeria’s infrastructural ambitions.

The story of Mikano Power’s customized panels is ultimately one of vision to design products engineered for the Nigerian environment while meeting international benchmarks. As Nigeria continues to urbanize, expand its healthcare sector, and invest in infrastructure, the demand for reliable and efficient power distribution will only grow. Mikano Power’s customised panels are already proving they can rise to this challenge, creating solutions that empower industries, protect investments, and improve lives.

‘By marrying world-class engineering with local knowledge, Mikano Power is setting the pace for how energy solutions can be both functional and transformational. The customized panel is more than just a product; it is a statement of intent that Nigeria’s industries deserve solutions built to global standards, but designed with their realities in mind,’ he said.

Ghraizi further explained that Mikano Power’s customized panels are not only revolutionizing power management but also driving technological advancement and local capacity development in Nigeria’s electrical manufacturing space. ‘Every customised panel produced by Mikano is a product of collaboration between local engineers and our international partners. This partnership allows us to transfer knowledge, build local expertise, and create job opportunities. Today, Mikano Power is proud to have trained and employed hundreds of skilled Nigerian engineers who are part of the process of designing, assembling, and maintaining globally certified power systems,’ he stated.

He noted that the company’s manufacturing process is deeply rooted in research and continuous improvement, with every design iteration reflecting lessons learned from the unique challenges of the Nigerian energy landscape. ‘Our environment presents complex power variables – fluctuating grid voltage, irregular maintenance culture, and environmental stress. By studying these realities and applying global engineering standards, Mikano Power has been able to innovate panels that are not only robust but adaptive. They are engineered to thrive where others fail,’ Ghraizi said.

He also emphasised that sustainability and energy efficiency are central to Mikano Power’s customized panel philosophy. According to him, every solution is developed to optimise power usage, minimize energy loss, and ensure that businesses achieve greater output with lower operational costs. ‘In an age where energy efficiency is critical, our systems help organisations reduce waste and enhance performance. Whether it’s a data center seeking stable power distribution or an industrial plant optimizing machinery load, Mikano’s customized panels are designed to keep operations sustainable, cost-efficient, and future-ready,’ he explained.

Looking to the future, Ghraizi reaffirmed Mikano Power’s commitment to driving innovation and digital integration within Nigeria’s power infrastructure. ‘We are already working toward smarter panels – systems equipped with IoT-based monitoring and remote control capabilities that give operators real-time insights into their power systems. This evolution will redefine how energy is managed across industries, allowing clients to predict faults, schedule maintenance proactively, and reduce downtime. The goal is simple – to ensure that every watt of power is delivered safely, efficiently, and intelligently,’ he concluded.

These specialties have helped Mikano Power grow into Nigeria’s largest assembler and solution provider for power generating sets, with a reputation for its partnership with global brands like MTU, Perkins, and YORC. They offer a diverse range of diesel and gas generators from 9KVA to 5000KVA, alongside comprehensive services like sales, maintenance, overhauling, and rental solutions for homes, businesses, and large industrial projects, including IPPs. The company also provides integrated power solutions and electrical equipment for the Nigerian market.

Other Nigeria initiatives

The Nigerian government has recently launched a N100 billion solar electrification programme aimed at powering public sector infrastructure-such as schools, hospitals, and government buildings-with clean, renewable energy. The initiative, known as the National Public Sector Solarisation Initiative (NPSSI), was officially unveiled during a joint agreement signing ceremony held in Abuja. The event brought together key stakeholders including the Rural Electrification Agency (REA), the Budget Office of the Federation, the Infrastructure Corporation of Nigeria, and the Ministry of Finance Incorporated.

In a statement released by the REA on Friday, the agency confirmed that the first phase of the NPSSI will be fully funded by the Federal Government. The programme is designed to phase out diesel-powered generators in public institutions across the country, replacing them with distributed solar energy systems. This move is part of a broader national strategy to cut carbon emissions, lower the cost of powering public infrastructure, and accelerate the transition toward a more sustainable energy future for Nigeria.

‘Nigeria’s energy transition journey, the Rural Electrification Agency has officially signed a Memorandum of Understanding with the Budget Office of the Federation, Infrastructure Corporation of Nigeria, and the Ministry of Finance Incorporated, marking the official launch of the National Public Sector Solarisation Initiative, a flagship, government-led programme designed to accelerate the deployment of distributed solar energy solutions across Nigeria’s public sector institutions, including schools, hospitals, security posts, government offices, and more.

‘At its core, this initiative was birthed from a strategic national priority: the urgent need to power critical infrastructure with clean, reliable energy, while moving away from diesel dependence and reducing the public sector’s carbon footprint.’

Separate fire incidents which occurred in Ibadan and Ogbomoso areas of Oyo state at the weekend have destroyed properties worth millions of naira.

While a shopping complex was ravaged in Ibadan, a residential building was consumed in Ogbomoso.

No fewer than six rooms and three shops were destroyed at the razed residential building located at Oke-Elerin area of Ogbomoso.

It was gathered that properties and other valuables worth millions of naira were lost to the incident but no casualty was recorded.

The African mining market, valued at over $508.33 billion in 2024, will reach $847.63 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 6.60 per cent during the forecast period, Global research and consulting firm, Verified Market Research, has projected.

The report indicated that Africa holds 30 per cent of the world’s mineral wealth, including unmatched reserves of cobalt, platinum-group metals, gold, and rare earth elements – minerals critical to the green, industrialisation and digital economy.

The report said demand for these minerals, driven by global industrial needs and emerging market growth, sustains and propels Africa’s mining sector. It noted that these resources attract substantial foreign investment from multinational mining companies seeking to capitalise on the high demand for these minerals in global markets.

The report stated that the rising prices of these commodities further incentivise exploration and extraction activities, making mining a critical sector for economic growth and development in many African countries, including Nigeria.

‘These factors are driving the growth of the African mining market size to surpass $508.33 billion in 2024 to reach a valuation of $847.63 billion by 2031m’ it said.

The research firm further stated that improvements in mining technologies and infrastructure are enhancing the efficiency and safety of mining operations, boosting productivity.

‘Government initiatives and reforms aimed at creating a more conducive environment for mining investments, such as regulatory changes, tax incentives, and efforts to combat illegal mining activities, also play a crucial role,’ it added.

‘These efforts, combined with growing regional cooperation and partnerships are enabling the market to grow at a CAGR of 6.60 per cent from 2024 to 2031,’ the report said.

The report comes as Nigeria’s mining sector recorded significant growth over the past decade, increasing its contribution to the National Gross Domestic Product (GDP) from less than 0.5 per cent to about 1.8 per cent.

Apparently encouraged by this growth, and of course, the Federal Government’s bold and sustained reforms, the Minister of Solid Minerals Development, Dr. Dele Alake, said Nigeria targets three per cent mining contribution to GDP in the coming years.

The minister made this known during a pre-event press briefing in Abuja ahead of the 10th edition of the Nigeria Mining Week, slated for 13-15 October, 2025.

Organised in partnership with the Miners Association of Nigeria (MAN), VUKA Group, and PwC Nigeria, this year’s conference is themed, ‘Nigeria Mining: From Progress to Global Relevance.’

It captures the mining sector’s ongoing transformation under President Bola Tinubu’s Renewed Hope Agenda, with Dr. Alake noting that the figures reflect tangible transformation within the sector.

Citing the rise in operational mines, increased private investment, and growing benefits to host communities, the Minister said ‘What once seemed far off – stronger data, higher investment, and more local processing – is now shaping the sector in real terms.’

‘This 10th edition of the Nigeria Mining Week is not just a celebration – it’s a landmark that reflects our journey from obscurity to opportunity,’ Dr. Alake added.

He outlined several key reforms driven by the ministry, stressing that Nigeria’s mining sector is now guided by structure, innovation, and private investment.

The Minister listed some of the major initiatives to include strengthening of the Solid Minerals Development Fund (SMDF) to stimulate private sector financing; comprehensive geological mapping and data digitisation to improve transparency and investor confidence.

Others are the deployment of mining marshals to combat illegal mining and safeguard communities; upgrading of the Mining Cadastral Office to ensure transparent and efficient licensing; introduction of a new Solid Minerals Development Roadmap, focusing on beneficiation, infrastructure, and local content.

There also the launch of the Nigerian Mineral Resources Decision Support System (NMRDS) – a digital platform offering investors access to geological data; establishment of the Nigerian Mining Corporation to promote state participation in mining ventures; introduction of new Community Development Agreement (CDA) guidelines to guarantee fair benefits for host communities.

However, as heartwarming as African mining market, Nigeria’s inclusive, is, Verified Market Research said political instability and regulatory challenges are significant impediments to the growth of the African mining market.

The report said: ‘Political instability, characterized by frequent changes in government, civil unrest, and conflict, creates an unpredictable and high-risk environment for mining investments.

‘When governments change frequently or are unstable, mining policies can shift rapidly, leading to uncertainty for investors.

‘These uncertainties deter long-term investments, as mining companies seek stable environments where they can plan and operate over extended periods.

‘Additionally, conflict and unrest can disrupt mining operations, damage infrastructure, and threaten the safety of personnel, leading to operational shutdowns and increased security costs.’

Also, regulatory challenges further complicate the investment landscape in Africa’s mining sector, with the report noting that the regulatory environment in many African countries can be complex, inconsistent, and sometimes opaque.

‘Navigating this regulatory maze can be time-consuming and costly for mining companies,’ the report said, adding that inconsistent application of laws and regulations can result in unpredictable legal and financial outcomes, making it difficult for companies to assess the feasibility and profitability of their projects.

The report said, for instance, that sudden changes in mining laws, tax rates, or royalty requirements can significantly alter the economics of a mining project, potentially making previously viable projects unprofitable.

That’s not all. Corruption and bureaucratic inefficiencies in some countries, the report said, exacerbate these regulatory challenges.

The report put it thus: ‘Mining companies may face demands for unofficial payments to expedite permits and approvals, adding to the cost and complexity of doing business.

‘These practices not only increase operational costs but also undermine the transparency and fairness of the regulatory process, deterring reputable international investors.’

It added that environmental and social regulations, although necessary for sustainable mining practices, can also pose challenges if they are not implemented transparently and consistently.

‘Stringent environmental laws may require substantial investments in compliance measures, and unclear or shifting regulations can lead to delays and additional costs,’ Verified Market Research said.

Ondo State Governor Lucky Aiyedatiwa has lauded President Bola Ahmed Tinubu for establishing South West Development Commission (SWDC).

He described it as a strategic initiative that would bridge developmental gaps and unlock the region’s economic potential.

President Tinubu had in March signed the SWDC Bill into law, mandating the commission to enhance infrastructure, economic growth and social welfare across Southwest.

The legislation was sponsored by Senator Gbenga Daniel, representing Ogun East, and received support from both chambers of the National Assembly before its final assent.

Speaking over the weekend at a thanksgiving reception held in honour of Dr. Jide Adewinle, the newly-appointed federal commissioner representing Ondo State in the commission, Aiyedatiwa said the creation of SWDC would help address developmental disparities and promote sustainable regional growth.

‘The establishment of South West Development Commission is a laudable step by the Federal Government to tackle developmental imbalances, harness regional potential and promote sustainable growth.

‘With the right leadership and collaboration, the commission will serve as a veritable tool for economic revitalisation, infrastructural renewal and social transformation in our region,’ he said.

The governor pledged his administration’s readiness to collaborate with the commission to advance infrastructural renewal, industrialisation and youth empowerment across Ondo’s 18 local governments.

He described the appointment of Adewinle as well-deserved, noting that it was a recognition of competence, capacity and character.

‘Over the years, Dr Adewinle has demonstrated exceptional commitment to community development, youth empowerment and professionalism,’ Aiyedatiwa said.

‘His appointment further projects Ondo State as a reservoir of capable men and women, who can stand tall anywhere in service to our nation.’

The governor urged the new appointee to embrace humility, inclusiveness and vision in his stewardship.

‘Leadership is stewardship imbued with humility and accountability. Let your service reflect diligence and integrity. Expectations are high, but I’m confident you will make Ondo proud,’ he said.

Aiyedatiwa said the state government would continue to work with SWDC and other federal institutions to ensure Ondo people benefited from ongoing and future developmental projects.

Dr Adewinle expressed gratitude to God, President Tinubu and Governor Aiyedatiwa for the opportunity to serve, promising to justify the confidence reposed in him.

He described the commission as a platform designed to promote education, infrastructure, welfare and economic empowerment, positioning Southwest for sustainable development.

The Chairman of Okitipupa Local Government, Andrew Ogunsakin, hailed the governor for approving a 5km road project in the council and lauded the ongoing projects across the state.

The thanksgiving, held at Adekunbi Hall, Iye Ile Resort Centre, Ode-Aye, drew dignitaries from across the country, including traditional rulers, political associates and well-wishers, who joined in celebrating the new appointee.

A high-level delegation from the Zamfara State Ministry of Finance had a knowledge-exchange visit to their counterparts in Lagos State with the primary objective to gain an in-depth understanding of the pioneering policy implementation and revenue management processes of the Lagos State Land Use Charge (LUC).

Welcoming the team to the Ministry, Commissioner for Finance, Mr. Abayomi Oluyemi, commended the delegation for choosing Lagos as a model for effective fiscal Management, noting that the state has continued to improve its internally generated revenue through transparent, technology-driven tax reforms and efficient land use administration.

Abayomi said, ‘It is a mandatory property tax that consolidates various property-related payments and provides a vital source of internally generated revenue for the government to address the expanding needs of the ever-increasing population of the state.

Paying the land use charge is considered a civic responsibility that supports the government’s effort to improve the socio-economic status of all residents.

Abayomi added, ‘We are pleased to share our experiences and lessons learned from administering the Land Use Charge. Lagos has consistently shown leadership in sub-national revenue generation, and we are always open to supporting our sister states in developing fiscal policies that drive development and improve the lives of our citizens.’

Leading the delegation from Zamfara State, Dr. Yakubu Sanusi, expressed his appreciation for Lagos State’s transparency and willingness to share knowledge.

‘We are deeply impressed by the sophistication and success of the Land Use Charge system in Lagos. This study tour has been immensely insightful, and the knowledge gained will be valuable as we explore ways to enhance our own revenue generation capabilities in Zamfara State. We are committed to adapting these best practices to our local context’.

The visit underscores a growing trend of peer learning among Nigerian states and highlights the Lagos State Land Use Charge policy as a national benchmark for effective property tax administration.

The leadership of the Congress of University Academics (CONUA) has declared that it is not part of any ongoing strike in Nigerian universities.

In a statement signed by its National President, Dr. Niyi Sunmonu, the union dismissed reports circulating on social media suggesting its involvement in the industrial action.

‘CONUA wishes to categorically clarify that it has not declared any strike action and is not part of any ongoing strike,’ Sunmonu stated.

He reaffirmed the union’s commitment to maintaining academic stability, promoting excellence, and ensuring the smooth running of the university system through constructive dialogue and peaceful engagement with the government and other stakeholders.

Sunmonu also urged members of the Congress to continue performing their academic and administrative duties diligently, report to work, engage with students, and discharge their professional responsibilities as expected.

‘It is important to emphasize that CONUA has no basis at this time to declare a dispute or embark on any strike action. When the renegotiation committee of the 2009 Agreement was inaugurated in October 2024, CONUA was conspicuously and deliberately omitted. The Union formally protested this exclusion, which

eventually culminated in a meeting with the Honourable Minister of Education on 11 September 2025.

‘At that meeting, the Honourable Minister acknowledged CONUA’s concerns and assured that the Yayale Ahmed Renegotiation Committee would be expanded to include all the academic unions in Nigeria’s federal tertiary institutions.

‘We are pleased to note that the Ministry of Education has recently expanded the committee, fulfilling that promise. Until CONUA is formally brought to the table and any of the issues it has presented to

the Federal Government becomes subjects of dispute, there is no foundation whatsoever for any strike action by CONUA.

‘Resolutions from Nationwide Congresses following the 11 September meeting, the national leadership reported the outcome to members across universities, after which congresses were held between 18 and 24 September 2025. At these congresses, members unanimously reaffirmed CONUA’s principled stance that no strike action should be taken and that engagement, not disruption, remains the best path forward for the Nigerian university system,’ it read.

CONUA boss, however, appealed to Vice Chancellors to ensure the safety and protection of CONUA members in continuing their legitimate duties within their respective institutions.

He equally encouraged students to remain focused on their academic pursuits without fear of interruption, adding that the Union stands by its commitment to quality education, national development, and

peaceful industrial relations in the university system.

‘CONUA’s unwavering focus is on building a sustainable, innovative, and productive academic environment that serves the interests of students, scholars and the nation.

‘We appreciate the understanding and cooperation of all stakeholders in supporting this constructive orting this constructive approach to advancing higher education in Nigeria,’ he added.

The All Progressives Congress (APC) in Delta State has passed a vote of confidence in President Bola Ahmed Tinubu and Governor Sheriff Oborevwori, endorsing them as the party’s sole candidates for the 2027 general elections.

The endorsement took place during a well-attended APC Stakeholders Meeting at the State Banquet Hall in Asaba, the state capital.

The meeting gathered influential party leaders, current and former lawmakers, and key political figures from Delta’s three senatorial districts.

The motion for the vote of confidence was introduced by the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, and seconded former Delta Speaker Victor Ochei.

Keyamo praised Tinubu’s leadership, highlighting his ‘bold reforms and transformative leadership’ and specifically mentioning the removal of fuel subsidy as a prudent decision that has redirected significant funds toward critical national infrastructure projects.

Keyamo pointed out recent developments, including the President’s approval of $1 billion for the revival of the Warri port and other major projects like the Lagos/Calabar coastal road and enhancements to Lagos Airport-outcomes attributed to the savings gained from subsidy removal.

He described Tinubu as a ‘prudent manager and visionary leader.’

Keyamo noted Governor Oborevwori’s contributions to substantial infrastructural development within Delta State and reinforced his call for the party’s endorsement of both leaders for the 2027;elections.

He said the passing of this motion reflected a strong unity within the APC in Delta State in support of their leadership.

He also commended Governor Oborevwori for his visionary leadership and for the massive infrastructural development across Delta State.

He moved that ‘the Delta APC pass a vote of confidence in President Bola Ahmed Tinubu, Governor Sheriff Oborevwori and adopt them as the party’s sole candidates for the 2027 general election.’

Seconding the motion, which was unanimously adopted, Ochei hailed Tinubu and Governor Oborevwori’s inclusive governance and developmental impact across Nigeria and Delta State, respectively.

The Governor commended President Tinubu’s leadership, describing him as ‘a man who rewards loyalty, commitment, and results.’

‘In 2027, our votes will be our report card. Those who claim to love the President must show it through the ballot. I won 21 out of 25 local governments in the last election because we worked and stayed loyal. That’s what real commitment means,’ Oborevwori said.

The Governor warned against disloyalty within the party, stressing that some members who did not work for APC during the last elections had benefited unduly.

‘Some in power today didn’t work for the APC, but we know them. When the time comes, we will expose them. This time, loyalty will be rewarded, not hypocrisy,’ he declared.

He emphasised unity and collective decision-making, urging leaders to put the interest of the party above personal ambitions.

On governance, the Governor highlighted ongoing infrastructural projects across Delta State – including the ?59 billion Uromi Junction flyover project, the ?39 billion Ughelli Flyover, and the coming Tuesday groundbreaking of Warri/Sapele Road rehabilitation.

‘This is the only state where contractors are not owed. We pay 40% mobilization upfront. That’s because we are managing resources efficiently, and the President’s reforms are yielding results,’ Oborevwori said.

Immediate past Governor Senator Ifeanyi Okowa, expressed delight at the gathering, describing the April 28, 2025 mass defection into the APC as ‘a turning point in the state’s political history.’

‘Today, I can confidently say that joining the APC was the right step in the right direction. The party is now stronger, more united, and better positioned for victory in 2027,’ Okowa said.

He praised Tinubu’s economic decisions as ‘bold and necessary,’ urging leaders to enlighten their constituents on the long-term benefits of current reforms.

Okowa commended Oborevwori for uniting the party, saying his humility and inclusive leadership had strengthened Delta APC across all senatorial districts.