Bennett Oghifo

Cleaques Sports, a technology-driven sports platform, has unveiled plans to connect grassroots sports talents across Africa and the Caribbean with international opportunities through a digital ecosystem designed to increase visibility, scouting and career development.

Speaking at a press conference in Lagos, Saint Agomeze, Vice President Strategic partnership and eco system Growth, said the organisation was committed to creating pathways that would expose African athletes to global competitions, partnerships and professional opportunities.

He said Cleaques Sports is actively exploring participation in the Prime Minister’s Cup in Barbados as part of efforts to provide local athletes with international exposure.

He said the competition would offer talented African players an opportunity to compete on a global stage, gain valuable experience and showcase their abilities before a wider audience.

“Cleaques Sports will be participating in the 2026 Creative Africa Nexus (CANEX) Summit in Lagos as part of our broader vision of building strategic international partnerships that can accelerate the growth of African sports,” he said.

According to him, the organisation intends to engage investors, sports organisations, governments, brands, media institutions and other stakeholders through the summit to create new opportunities for local athletes.
He added that Cleaques Sports aims to build Africa’s leading digital sports ecosystem by creating pathways that transform local talents into globally recognised athletes while positioning African sports as a major force in the international marketplace.

Tolu Ajayi, Cleaques Vice President, ������Ƶ Development, described Cleaques as an integrated digital ecosystem created to support event organisers, promoters, businesses and creators.

Charity Owoh, Head of Marketing, said Cleaques Sports was established to address the challenge of talented athletes remaining undiscovered due to limited access to established clubs and scouting networks.

“We realise that there are so many talents in Africa that are unseen. What we’re doing at Cleaques Sports is to make sure people can actually see that there’s talent in Africa,” she said.

Aisha Oladunjoye, Cleaques Product Manager, said sport has become more than recreation, serving as a source of opportunity, hope and community for young people.

She noted that many talented athletes playing on streets, community fields and school grounds often lack the visibility required to advance their careers.

“We are documenting your journey, your story and everything that needs to be put out for people to see. We want to ensure every local sports talent is given the global recognition they deserve,” she said.
Oladunjoye explained that Cleaves Sports would initially focus on football before expanding to other sporting disciplines.

She described the platform as a digital space where athletes can register, upload videos, share their progress and engage with fans, scouts and clubs.

Ojediran Adewale, Cleaques Sport Director, said the initiative would target street football teams and local talents identified through the platform.

“We are going from street to street to look for talents and get them together on our platform so that they can be seen and showcase their abilities,” he said.

He explained that participating teams would register through the platform and compete under established football regulations, while scouts and agencies would have access to identify promising players.

Officials disclosed that prizes worth up to N10 million would be available for the competition, with details of the prize structure and competition schedule to be announced later.

He noted that the said registration on the platform and participation in competitions would be free and that the athletes would have access to a digital wallet feature through which fans and supporters could contribute directly to their development.

Bennett Oghifo

President of the Dangote Group, Aliko Dangote, has sealed a major automotive partnership with Chinese commercial vehicle manufacturer, BAIC FOTON, culminating in a vehicle order exceeding 1,000 units for operations across Nigeria.
The landmark agreement, facilitated by Kewalram Autos — the automotive arm of the Kewalram Chanrai Group — is expected to significantly strengthen Dangote Cement’s logistics and distribution network across Nigeria and the wider Sub-Saharan region.

The high-level meeting, just held in Beijing, China, was organised by the Managing Director/Chief Operating Officer of Kewalram Mobility, Mr. Anil Sahgal. It brought together a Dangote Group delegation led by Aliko Dangote and senior executives of BAIC FOTON, including the General Manager of BAIC Group and Chairman of BAIC FOTON, Chang Rui; Executive Vice President, Lu Zhenghua; and Vice President and President of BAIC FOTON International, Fu Jun.
During the meeting, Chang Rui commended the Dangote Group for its role in advancing industrialisation across Africa, while reaffirming BAIC FOTON’s commitment to deepening its footprint on the continent.

Fu Jun outlined the company’s global expansion strategy and advances in new energy commercial vehicle technology, stressing its customer-focused approach and drive to deliver high-quality, energy-efficient transport solutions worldwide.
Dangote, in his remarks, praised BAIC FOTON’s technological strength, particularly in the development of compressed natural gas-powered trucks, describing the partnership as aligned with Africa’s sustainable development goals and energy transition agenda.

Under the agreement, Dangote Group will acquire a broad portfolio of CNG-powered tractors and semi-trailers aimed at boosting the capacity and efficiency of its cement haulage operations.

The deployment of CNG vehicles is also expected to reduce fuel costs and carbon emissions, reinforcing the conglomerate’s commitment to cleaner energy solutions.

Sahgal assured that Kewalram Autos would provide full lifecycle support, including after-sales service and the development of local assembly infrastructure, to guarantee seamless fleet operations.
Industry observers say the deal signals growing confidence in alternative fuel technology within Nigeria’s heavy-duty transport sector and underscores Dangote Group’s continued investment in logistics capacity to sustain its expanding industrial operations.

Bennett Oghifo

In a move aimed at strengthening the delivery and marketing of affordable housing under the Federal Government’s Renewed Hope Housing Estates initiative, QShelter Limited yesterday signed a Real Estate Agency and Marketing Memorandum of Understanding (MOU) with M.I. Okoro & Associates, a foremost firm of estate surveyors and valuers.

The joint press briefing and signing ceremony, held in Ikoyi, Lagos on Tuesday, December 30, 2025, brought together key stakeholders in Nigeria’s housing and finance ecosystem, including the Chairman of QShelter Limited, Mr. Kola Sowande; President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Victor Alonge; Group Managing Director of Access Holdings Plc, Mazi Innocent C. Ike; the Chief Operating Officer of QShelter, Mr. Adegbenga Alamu; and the Principal/CEO of M.I. Okoro & Associates, Dr. Chief Innocent Mechson Okoro.

Also present were directors and board members of QShelter, the Chief Commercial Officer of the company, Mr. Oludare Makinde, senior management and staff of both organisations, and members of the press.

Addressing journalists, the QShelter chairman said the MOU would guide the collaboration between the two firms in the marketing of various housing units being delivered by QShelter as sole agent under the Renewed Hope Housing Estates in Abuja, Lagos and Kano.

He noted that the partnership was in alignment with the Federal Government’s housing agenda under President Bola Ahmed Tinubu, describing the Renewed Hope Housing Policy as a long-overdue intervention in Nigeria’s chronic housing deficit.

“Housing is one of the basic needs of man, alongside food and clothing. Yet, for decades, Nigeria paid insufficient attention to housing delivery,” he said. “The Renewed Hope Housing Policy is a decision in the right direction, particularly as it targets the middle class and is supported by innovative funding mechanisms.”

Sowande highlighted the Federal Mortgage Bank of Nigeria (FMBN), National Housing Fund (NHF), mortgage and rent-to-own schemes, which offer interest rates of six and seven per cent respectively, with mortgage tenures of up to 30 years and access of up to ₦50 million per subscriber.
He also referenced the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), under which ₦250 billion has been earmarked for disbursement to Nigerians seeking homeownership at a mortgage rate of 9.75 per cent, with up to ₦100 million per beneficiary.

According to him, these interventions, if sustained, could significantly reduce Nigeria’s housing deficit within the lifespan of the Tinubu administration, while also generating employment across the construction value chain.

QShelter’s Role and Track Record

Providing background on the company, QShelter Limited was described as an emerging leader in digital real estate and housing finance in Africa, leveraging technology to connect developers, buyers and mortgage providers on a single platform.

Through partnerships with institutions such as FMBN and several primary mortgage banks, QShelter facilitates access to affordable housing through NHF, rent-to-own and other sustainable financing options.

The company also partners with pension fund administrators, including Access ARM Pension Fund, Leadway Pension and Stanbic IBTC Pension Managers, while recently onboarding Providus Bank and FirstBank of Nigeria as partner institutions.

QShelter’s portfolio of completed projects includes the Main Tejuosho Shopping Complex in Yaba, Lagos; a 100,000-ton agricultural storage silo project in Ekiti State; a two-million-ton cement bagging plant in Lagos; a steel pedestrian bridge for the Lagos State Government; and the 132KV Ikorodu–Odogunyan–Sagamu transmission line in Ogun State. Ongoing projects include housing developments at Army Command Estate and the Renewed Hope Cities and Estates in Karsana, Abuja, Janguza in Kano State, and the 2004 Estate Monastery along the Coastal Road in Sangotedo, Lagos.

The Renewed Hope City in Karsana, Abuja, covers 53 hectares and is projected to deliver up to 2,800 housing units, with flexible payment options including outright purchase, instalment plans and NHF-backed mortgages. In Kano, the Renewed Hope City in Janguza spans approximately 67 hectares, with a planned capacity of about 2,000 housing units across multiple phases, offering bungalows, terraces and duplexes.

The Coastal Road Sangotedo project in Lagos is expected to deliver thousands of housing units with proximity to Victoria Island, Novare Mall, the Lagos–Calabar Coastal Road, and proposed transport infrastructure.

In the Strategic Marketing Partnership with M.I. Okoro & Associates, Sowande described

M.I. Okoro & Associates as a “vintage and celebrated” real estate consultancy with over 30 years of industry experience. He praised Dr. Okoro as a Fellow of the Nigerian Institution of Estate Surveyors and Valuers, the Chartered Institute of Directors, Nigeria, and the Society of Construction Industry Arbitrators, noting his extensive professional exposure and contribution to public education on real estate through the long-running NTA programme, Real Estate AM Express.

“The Board and Management of QShelter are proud to present Dr. Chief M.I. Okoro as our estate agency and marketing partner,” he said, urging the media to support the collaboration in promoting the Renewed Hope Estates nationwide.

Global Outreach and Diaspora Engagement

Both firms disclosed plans to extend marketing efforts to Nigerians in the diaspora through international exhibitions and strategic engagements. These include participation in a building exhibition in Liverpool during the Nigerian–UK Golfing Association tournament, collaboration with Access Bank Plc around its London polo event in 2026, and representation at the OTC World Oil Institutions Conference in Houston, United States.

The initiative, they said, is aimed at ensuring that Nigerians at home and abroad benefit from the Renewed Hope Housing programme, regardless of location.
Okoro’s Policy Recommendations

In his professional input to the Federal Government, Dr. Okoro commended the Renewed Hope Housing initiative and its associated mortgage funding framework but stressed the need for sustainability beyond the current administration. He called for improved land allocation, government-led infrastructure provision to reduce housing costs, incorporation of renewable energy solutions such as solar power, and stronger regulatory oversight of mortgage disbursement to prevent past failures.

He also emphasised the importance of clean land titles for mortgage viability, discouraged speculative purchases by government officials, and advocated for tax incentives and employer-supported housing schemes to help workers access homes early in their careers.

According to him, expanding the Renewed Hope Housing strategy across all states and local governments would increase housing supply, moderate prices, and generate steady revenue for governments through land use charges and ground rents.

As the briefing drew to a close, the organisers expressed confidence that the QShelter–M.I. Okoro partnership would redefine estate agency practice and marketing in Nigeria, while accelerating access to decent and affordable housing under the Renewed Hope Agenda.

Bennett Oghifo

Carloha Nigeria, the exclusive distributor of Chery vehicles, made a powerful statement of commitment to excellence and innovation through its premier sponsorship of the 2025 Nigerian Association of Petroleum Explorationists (NAPE) Golf Tournament held at the scenic Ibom Golf Resort.

The high-profile tournament, a highlight on Nigeria’s corporate golf calendar, brought together top executives, engineers, and industry leaders from across the oil and gas value chain. Carloha’s headline sponsorship not only strengthened its relationship with the nation’s vital energy sector but also showcased how the brand continues to add value across multiple fronts, from the fairway to the factory floor.

Carloha’s presence brought new energy to the tournament. The much-anticipated Hole-in-One Challenge at Hole 12, featuring a Chery Tiggo 8 Pro as the grand prize, captivated participants and added a thrilling competitive edge to the game. While no golfer achieved the elusive shot, the activation became one of the event’s most talked-about moments, reinforcing Carloha’s message of rewarding excellence and inspiring high performance.

Beyond excitement on the course, Carloha used the tournament as a platform to engage decision-makers, build partnerships, and highlight how Chery’s robust vehicle lineup supports the mobility needs of Nigeria’s oil and gas professionals, where reliability and efficiency are non-negotiable.

By backing the NAPE Golf Tournament, Carloha also demonstrated its dedication to promoting golf as a sport of precision, discipline, and connection. The company’s involvement is helping sustain the growth of golf as a networking and wellness platform for Nigeria’s corporate and technical elite, further integrating the sport into the nation’s professional culture.

Carloha’s sponsorship spotlighted Chery’s cutting-edge technology and reliability, key traits that align with the energy sector’s demand for dependable fleet solutions. Through initiatives like the CarlohaCare 6-6-7 service package – offering six years of free service, six years of warranty, and a seven-day repair promise – Carloha continues to raise the bar for after-sales service and customer satisfaction in Nigeria’s automotive industry.

This forward-thinking approach underscores the brand’s mission to provide mobility solutions that enhance productivity, minimize downtime, and deliver lasting value.

Speaking at the awards ceremony, Felix Mahan, General Manager of Marketing at Carloha Nigeria, reaffirmed the company’s long-term vision:

“Our investment in this tournament goes beyond sponsorship; it’s a celebration of partnership. The energy sector drives Nigeria’s growth, and Carloha is proud to support that momentum by delivering vehicles and services that match the industry’s high standards of reliability and performance.”

Carloha’s engagement with NAPE’s flagship event underscores its strategy to be more than a vehicle distributor—it’s a partner in progress. By connecting with key industry stakeholders, the company continues to build meaningful collaborations that advance both mobility innovation and operational excellence across Nigeria’s most critical sectors.

From the lush greens of Ibom Golf Resort to the demanding terrains of oilfield operations, Carloha is driving a shared vision of precision, resilience, and innovation—adding tangible value to the event, the sport, the automotive industry, and every stakeholder involved.

Bennett Oghifo

Nord Automobiles Limited has launched Tavet Motion, a new subsidiary focused on electric vehicles (EVs), and unveiled three new models—Luto, Garent, and Vant—at a high-profile event in Lagos, recently.
The unveiling at the prestigious Oriental Hotel drew top military officers, senior government officials and industrial leaders, signalling what experts described as a major leap in Nigeria’s auto industry and a strong statement for sustainable transportation.

Nord’s Chief Executive Officer, Oluwatobi Ajayi, described Tavet as “the future of mobility,” saying the company was determined to make Africa an active participant—not a spectator—in the global EV revolution.

“Welcome to the future of mobility,” Ajayi declared. “Tavet is about innovation, sustainability, and progress. Nord gave birth to Tavet—and together, we’ll ensure Africa isn’t left behind in the electric revolution.”

The three models—Luto, a compact urban sedan; Garent, a luxury EV; and Vant, a logistics van—are all assembled in Nigeria and designed for African roads.

Ajayi said Tavet’s vision went beyond vehicle sales. “We’re not just selling cars,” he said. “We’re building an entire EV ecosystem—from charging stations to battery health programmes and renewable energy integration.”

Industry watchers say the launch could redefine Nigeria’s auto sector, long hampered by fuel price instability and dependence on imports.

By assembling locally and exploring Nigeria’s emerging lithium reserves, Tavet is expected to create thousands of jobs in manufacturing, research, and renewable energy support services.

Ajayi also hinted at partnerships with renewable energy firms to deploy solar-powered fast chargers nationwide, aligning with Nigeria’s clean energy transition goals and the African Union’s Agenda 2063.
“Tavet is proof that technology, when localized, can transform lives,” Ajayi said. “Nord is proudly Nigerian—and Tavet will redefine what it means to build world-class vehicles in Africa.”

Analysts project Tavet could capture up to 15 per cent of Nigeria’s emerging EV market within two years, positioning the country as West Africa’s leading hub for electric mobility.

For a nation battling high fuel costs and mounting environmental concerns, yhe Nord boss said the latest innovation could well be the spark to power Nigeria’s next industrial revolution.

Luto, he said, is viewed as Nigeria’s first compact electric city vehicle designed for young professionals, students and those tired of high fuel price and traffic stress.

The four-door fully EV seats four people comfortably. It is smart, stylish and agile, making everyday mobility simple as it can be parked everywhere and charged anywhere such as home, office and public station.

Its range is up to 200km per charge with power peak of 20kw and 100km/h top speed.
It has electric steering, power window, reverse camera abs hill-start assist, among others.
The Garent is Tavet’s flagship electric sedan and it competes with global EVs in technology and performance.

It has a couple-inspired lift-back design with optional scissor window.

Its other features are adaptive cruise control, lane-keeping assist and automatic emergency braking
He said Vant is Nigeria’s first practical electric logistics van for delivery businesses, ecomerce platforms and fleet operators as fast charging keep the fleet working without waiting.

The Vant model, with a range of 305km per charge, is positioned as a game-changer for logistics operators seeking a cheaper, cleaner alternative to diesel-powered vans.

Its battery range is 41.88kwh and 20-80% chargingin 45 minutes, payload up to 1,440kg and massive 2.8m cargo volume.

It has ABS, hill-start assist, reverse camera, LCD control screen, GPS navigation, AC plus heater.
With entry-level prices starting around ₦16m and premium variants for ₦32m, Tavet aims to make electric mobility accessible to both individuals and businesses.

Bennett Oghifo

Capitas Partners, and Savannah Capital, are collaborating to design a practical capital-raising programme for marginal field operators and independent companies seeking to scale up production.

Founder and Managing Partner, Capitas Partners, Dr. Abimbola Agboluaje stated this at this year’s edition of the ‘License to Energy Series—Pitching Nigerian Gas to Global Capital.’

This platform, he said, “is dedicated to exploring one key question: What must we do to make Nigerian energy companies more capable of inspiring investor confidence—confidence strong enough to attract capital into energy projects across Nigeria?

“In short, we want to see more Nigerians producing oil and gas—not just holding licenses. That’s why this series is aptly titled From License to Energy.
“As a company, over the past 14 years, I’ve worked with people like Mr. Toyin Akinosho to help foreign investors gain clarity on the risks they face when investing in the Nigerian oil and gas sector. These risks exist at multiple levels—country, political, policy, and regulatory risks—as well as company-level risks such as technical, legal, financial, and governance issues.

“The License to Energy Series is our modest attempt to convert more investor inquiries into actual investments. While I don’t have the exact statistics, experience tells me that if 10 potential investors approach us for risk assessments, perhaps only two or three actually proceed with an investment. We need to change that. Ideally, when 10 Nigerian energy companies pitch to investors, seven or eight should receive a “yes.”
Approaching foreign investors, he said, “is often like sitting for an exam without fully understanding the syllabus or marking scheme. You don’t always know what’s required to pass—or fail—and most times, investors don’t come back to explain why they declined to fund a project. Sometimes, it’s for very small reasons.

“That’s why we’re partnering with Savannah Capital, a London-based business advisory firm that helps African corporates access global capital through effective structuring and targeted introductions to investors.”

He said the Savannah Capital’s team consists of professionals who have built their careers in the City of London—arguably the world’s leading hub for fundraising. “They understand what investors look for and can guide companies on how to prepare and position themselves to increase their chances of success.

“What’s also significant is that Savannah Capital has African ownership and interests. That matters because the conversations needed to raise capital must be honest and frank—and it helps when those conversations happen among fellow Africans who understand the context and challenges.”
He said this is a great time for such efforts because Nigerian regulators and policymakers have made meaningful progress, adding, “There’s now greater clarity, consistency, speed of execution, and predictability in the sector.

“Additionally, fiscal incentives for both investors and operators are far more generous than before. So, in many ways, the oil and gas landscape in Nigeria has changed for the better in the last two years.

“We’re also grateful to Good Governance Africa (GGA) for their support since 2024. I’m pleased that Dr. Diran Bello, Executive Director of GGA, is here to deliberate with us and share why they’ve continued to back the License to Energy initiative.”

He thanked the regulators—the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB)—for their active engagement and alignment with their goals.

“And of course, a big thank you to our distinguished industry leaders—Gbite Falade of Aradel Holdings and Mr. Segun Olujobi of Vertex Energy—for generously sharing their time, insights, and experience despite demanding schedules. Their mentorship and openness reflect true leadership in Nigeria’s energy sector.”

The Executive Director, Good Governance Africa, Dr. Diran Bello said it was both an honour and a responsibility to co-organise this dialogue for Nigeria’s oil and gas sector.

“I believe what we’re doing here has the potential to shape Nigeria’s path forward—to help us make hay while the sun shines. I’m generally an optimist, and I believe Nigeria’s prospects have never been brighter. “We are a large nation with immense opportunities in a rapidly changing world. The question before us is: How do we position ourselves to seize these opportunities?

“We began this dialogue months ago at a roundtable on regulatory reform in Nigeria’s oil and gas sector. The findings from our survey were positive—Nigeria is broadly heading in the right direction. But we must not rest on our oars.”

On Nigeria’s Macroeconomic Environment, he said, “For anyone looking to invest—especially in a foreign-exposed industry like oil and gas—the macroeconomic environment matters deeply. I believe Nigeria’s economic outlook is more stable now than it has been in the past two decades. The government’s recent reforms, while painful, have begun to restore confidence and clarity around forex policies, investment windows, and market predictability. Over time, these benefits will trickle down to households and businesses.

“Learning from Qatar’s Model

Benjamin Netanyahu recently described Israel as “Little Sparta.” Borrowing that analogy, can Nigeria become “Little Qatar”? While our scale is larger, Qatar offers a model of readiness—preparing well in advance to take full advantage of global energy opportunities. With the global slowdown in the energy transition away from hydrocarbons, Nigeria now has a second chance to shine—if we act fast.

“Global Geopolitics and New Openings: We are living in a more fragmented, multipolar world. Conflicts—from Ukraine to the Middle East—are disrupting traditional energy flows, reducing the availability of Russian oil and gas on global markets. Such disruptions create a unique window for Nigeria to fill that gap and command higher premiums. But we can’t sell what we haven’t produced.

“So, our mission here is to move the needle forward—help Nigeria finally produce and monetize its full potential in gas.”
The CEO, Aradel Holdings, Mr. Gbite Falade said, “When it comes to gas and Nigeria’s broader energy journey, progress has been slow—but understanding the context helps us appreciate why.

“Our industry has historically been oil-centric. Until the PIA came into effect about three years ago, there was no clear commercial framework for gas monetisation. The early industry players focused primarily on oil to meet their home countries’ energy security goals, while gas was considered a nuisance—something to flare off.
“Over time, limited gas gathering projects began, mostly to support power generation. But these were often executed more as CSR initiatives than sustainable business ventures. Gas suppliers were paid as little as ₦10 per thousand scf—far below cost recovery. Still, some producers continued out of national commitment.

“Today, things are beginning to shift. With improved fiscal terms and regulatory clarity, Nigeria is better positioned to transform gas from a byproduct into a central driver of industrial and economic growth.

“A franchising model was introduced for last-mile gas distribution to commercial heartlands, with four major hubs established. Lagos was designated for Gaslink, Aba for Shell Nigeria Gas, Ikorodu for Falcon, and Gasland served other industrial centers. These hubs were primarily commercially priced and catered to industrial users. However, over time, many of these industrial customers began to move toward self-generated energy solutions.
“Around 2010, the sector witnessed its first major round of gas price legislation through a pronouncement by the then Minister of Power. This brought some structure to gas pricing—defining rates for critical sectors such as power, which remained undervalued, and separate pricing for commercial users. Gradually, this provided the foundation for more bankable gas investments.

“However, the major challenge for large-scale gas penetration across Nigeria remained the inadequate transmission pipeline network. At that time, the country had only one major trunk line: the Escravos–Lagos Pipeline System. These pipelines were financed from the balance sheet of an NNPC subsidiary, which was insufficient to support the massive infrastructure expansion needed nationwide.

“As this journey progressed, the sector continued to suffer from systemic issues—particularly unpaid debts owed by power generation companies (GenCos) to upstream gas suppliers. During the buildout of NIPP power plants, gas supply often lagged behind because the entire gas-to-power value chain was not viewed as an integrated system. Power was subsidized, consumers underpaid, and GenCos could not meet their obligations to gas producers. “Consequently, gas suppliers were unwilling to make new investment decisions. This is the background we inherited. The Petroleum Industry Act (PIA) came as a turning point, introducing clearer and more stable regulatory frameworks for midstream infrastructure and gas pricing. It provided guidelines that improved system transparency, stability, and bankability—encouraging more credible long-term investments.

“More recently, the government has introduced executive directives providing clarity on dollar-denominated transactions, resource classification, and fiscal terms, especially in Production Sharing Contracts (PSCs) and deepwater operations. This regulatory maturity has fostered investor confidence.”

Bennett Oghifo

In a move that underscores growing resilience within Nigeria’s financial system, Greenwich Merchant Bank has successfully met the Central Bank of Nigeria’s (CBN) N50 billion minimum capital requirement for merchant banks, following a well-executed recapitalization drive that strengthens its balance sheet and positions it for accelerated growth.

The development – confirmed in a CBN letter dated September 22, 2025 – marks a significant milestone in the institution’s evolution from a legacy investment firm into one of Nigeria’s most respected and forward-looking merchant banks.

From Greenwich Trust to a Modern Merchant Bank

Founded in 1992 as Greenwich Trust Limited, the institution established its reputation through excellence in capital market advisory, securities issuance, and investment services. Over the years, it became synonymous with financial integrity, executional precision, and long-term client partnerships.

In 2020, the company transitioned into a full-fledged merchant bank, a transformation that reflected both strategic ambition and the growing sophistication of Nigeria’s banking landscape. Today, Greenwich Merchant Bank operates across five core verticals – corporate banking, investment banking, treasury & global markets, asset and wealth management and securities trading serving corporates, institutions, and high-net-worth clients.

“Our journey has always been guided by a commitment to prudent growth, sound governance, and client trust,” said Mr. Kayode Falowo, Chairman of the Board. “This recapitalization represents not just compliance with regulatory expectations but a renewal of our confidence in the Nigerian economy and the opportunities ahead. We are building an institution designed for resilience, relevance, and impact.”

The Capital Raise: Strength, Stability, and Investor Confidence

Greenwich’s =N=50 billion capitalization was achieved through a Rights issue and private placement that collectively raised =N=22.6 billion in fresh equity, taking the bank above the CBN’s prescribed minimum. The approval cements its position as one of Nigeria’s strongest and best-capitalized merchant banks.

Beyond meeting regulatory requirements, the recapitalization reinforces strong investor confidence, enhances liquidity buffers, and expands the bank’s capacity for large-ticket transactions across energy, infrastructure, and manufacturing sectors.

“We see this capital raise as a strategic enabler,” noted Mr. Benson Ogundeji, Managing Director and Chief Executive Officer. “It allows us to take a bigger role in financing Nigeria’s productive sectors – from infrastructure and manufacturing to energy and technology – while providing innovative solutions that create measurable value for our clients.”

The move aligns perfectly with the CBN’s renewed recapitalization directive, designed to fortify banks’ capital adequacy and strengthen the entire financial ecosystem. For Greenwich, it is both a strategic leap and a statement of intent – an affirmation of its capacity to compete, lead, and deliver in an evolving economy.

Unlocking New Revenue Streams and Client Solutions

The strengthened capital position opens fresh opportunities for Greenwich to diversify its earnings and deliver comprehensive financial solutions to clients. With the enhanced capacity, the bank is now positioned to underwrite and lead larger, more complex structured and project finance deals across key sectors such as infrastructure, power, and industrial development. It is also expanding its wealth and asset management offerings, with a broader product suite designed for institutional and private clients, aimed at achieving deeper market penetration and increasing assets under management. In addition, Greenwich’s fortified balance sheet enables it to provide bespoke corporate advisory, risk management, and liquidity solutions, further reinforcing its position as a one-stop merchant banking partner.

“Our clients remain at the center of our strategy,” Ogundeji added. “We’re investing in stronger digital infrastructure and product innovation to ensure speed, sophistication, and value in every transaction.”

This capital flexibility will enable Greenwich to pursue more fee-based, non-interest income opportunities – critical in a sector where diversification and efficiency drive profitability.

Governance, Leadership, and Institutional Vision

Under the leadership of Chairman Kayode Falowo and CEO Benson Ogundeji, Greenwich Merchant Bank has demonstrated a consistent blend of strategic foresight and governance discipline.

The Board, composed of seasoned professionals across banking, finance, and industry, provides the right mix of expertise and oversight. This governance culture – anchored in transparency and accountability – continues to differentiate Greenwich in a competitive financial landscape.

“Good governance is the foundation of institutional longevity,” Falowo emphasized. “Our Board remains steadfast in upholding integrity, accountability, and transparency – the pillars that have sustained Greenwich for more than three decades.”

The management team is executing a refreshed three-year strategic roadmap, focused on optimizing the bank’s balance sheet, enhancing operational efficiency, and scaling its product portfolio through innovation and digital transformation.

A Vote of Confidence from the Market

Even before the recapitalization, Greenwich had earned positive market confidence, with Agusto & Co. recently upgrading the bank’s credit rating to ‘A-’ in recognition of its solid liquidity profile, sound risk management, and growing capitalization. Analysts view this upgrade as a strong endorsement of Greenwich’s stability and investor appeal, reinforcing market optimism around its recapitalization drive. Beyond signaling confidence, the improved rating also lowers the bank’s cost of funds and enhances its capacity to attract institutional investors, structure large-ticket financings, and play a more active role in Nigeria’s fixed income and capital markets.

Industry observers note that Greenwich’s move sets a benchmark for other mid-tier banks seeking to strengthen capital buffers and expand lending capacity. It also reflects a broader trend of proactive recapitalization ahead of the CBN’s 2026 deadline.

Broader Impact on Nigeria’s Banking Sector

The implications of Greenwich’s =N=50 billion recapitalization extend beyond its balance sheet. For Nigeria’s banking sector, it reinforces the message that local institutions can rise to meet tougher prudential standards while remaining profitable and innovative.

By enhancing its capital base, Greenwich has positioned itself to play a larger role in funding Nigeria’s economic diversification agenda – from infrastructure to sustainable industries. This development also strengthens confidence among depositors, investors, and regulators in the soundness of the financial system.

Furthermore, the move demonstrates how indigenous banks can adopt forward-thinking strategies that balance capital strength with customer-centric growth, setting a new standard for governance and sustainability in merchant banking.

The Road Ahead: Sustaining Growth and Value

As Greenwich transitions into its next phase, execution will be key. The bank’s leadership is focused on efficient capital deployment, disciplined risk management, and generating strong risk-adjusted returns for shareholders.

The refreshed capital structure provides the foundation for a more agile, scalable, and future-ready institution – one capable of competing effectively within Nigeria’s dynamic financial services space and expanding its reach across the continent. “Our ambition is simple,” Ogundeji concluded. “To be the most trusted merchant bank in Nigeria – admired for our expertise, our integrity, and our ability to help clients achieve their goals.”

Greenwich Merchant Bank’s N50 billion recapitalization is far more than a regulatory exercise – it is a declaration of purpose and a reaffirmation of strength. It represents a blend of heritage and innovation; of discipline and vision.

As Nigeria’s financial system evolves to meet the demands of a complex global economy, Greenwich stands as a model of what modern merchant banking should represent resilience, relevance, and responsibility.

Fadekemi Ajakaiye

The President of the Nigerian Society of Engineers (NSE), Engr. Margaret Aina Oguntala, FNSE, will represent Nigeria at the International Roundtable on “Shaping the Future of the Mining Industry: Relevant Competencies and a New Standard,” taking place on October 31, 2025, at the Mining University, St. Petersburg, Russia. The event is organized by the International Center of Competence in Mining Engineering Education under the auspices of UNESCO and the National Association of Mining Engineers (Russia).

The high-level global forum will explore the competencies and professional standards required for the next generation of mining Engineers, focusing on international collaboration, education quality, and mobility within the Engineering profession.

The NSE President will deliver a presentation on “Regional Cooperation and National Regulation: The Nigerian Experience in Strengthening the Engineering Profession Across Africa,” highlighting Nigeria’s leadership in capacity building, professional regulation, and regional integration within the African Engineering ecosystem. The President will be accompanied by Engr. Prof. Salawu Abdulrahman Asipita, Chairman of the Nigerian Institution of Metallurgical, Mining, and Materials Engineering (a Division of NSE), among others.

Other prominent speakers include Dr. Francis Davis, Director-General of the UNESCO Category II Centre for Engineering Education (Ghana); Dr. Shammah Kiteme, President of the Institution of Engineers of Kenya; and Dr. Enyonam Kpekpena, Chair of the WFEO Women in Engineering Committee. The session will conclude with the signing of a Memorandum of Cooperation and the adoption of a Roundtable Declaration aimed at harmonizing competency standards for mining Engineers across regions.

This international engagement further underscores the Nigerian Society of Engineers’ active role in shaping global Engineering policies and promoting African representation in international dialogues on sustainable development, capacity building, and technological advancement.

In his remarks, Hanna Frangieh, representing the Partner, Number One Lagos, said, “At Number One Lagos, collaboration has always been at the heart of what we do. Today, we are proud to launch the state-of-the-art workspace in partnership with IWG–Regus”.

Adding, “This space is more than walls and furniture; it’s a creative ground where innovations, entrepreneur, and professionals can build, connect, and thrive. Together, we are welcoming businesses and companies of all sizes to a smarter way of working”.

The IWG ND Property Director, Oyebimpe Oyedeji, while projecting ahead, said, “At the start of this year, we have 10 locations In Nigeria, and by the end of the year, will we have 22 locations.”

Bennett Oghifo

The Nigerian Institution of Structural Engineers (NIStructE), will discuss how to strengthen and advance their profession at the institution’s 38th Annual General Meeting & Conference (“Lagos2025”), which will take place in Lagos on Tuesday and Wednesday this week.

The theme of the conference is, “Strengthening and Advancing Structural Engineering Practice in Nigeria,” according to the President of NIStructE, Engr. Johnson Adegboyega Adeyoye, who addressed a hybrid press conference, along with members of the Executive Council.

Condemning the very frequent incidences of building collapse in the country, Adeyoye stated that only qualified professionals should be engaged in the construction of buildings in the country.

He said only engineers certified by the Council for the Regulation of Engineering in Nigeria (COREN) and NIStructE should be engaged in construction.

According to him, no Structural Engineer has so far been indicted in all the cases of collapsed buildings in the country.

He, however, called on the government to implement and enforce laws that guide building construction to stem building collapse.

Bennett Oghifo

Property tax remains one of the most underutilised sources of internally generated revenue in many parts of Nigeria, including Lagos.
The Dean, Faculty of Environmental Sciences, University of Lagos

Professor Adenuga Olumide stated this at a special session of the 2025 International Week, which was held at the University of Lagos, recently. The theme was: “Digital Innovation and Property Tax in Lagos.”

He said, “In a rapidly urbanising city like Lagos, the challenge of sustainably managing land, property, and infrastructure is immense. Yet, within this complexity lies an unprecedented opportunity — an opportunity to leverage digital innovation to make governance smarter, tax systems more transparent, and public service delivery more effective.”

The story, he said, “is beginning to change — thanks to the advent of Geographic Information Systems (GIS), digital land registries, remote sensing technologies, and Al-driven data analytics. These tools are revolutionizing how properties are identified, valued, and taxed.

“But innovation is not just about technology — it’s also about policy, people, and purpose. It’s about ensuring that systems are inclusive, equitable, and transparent. It’s about training a new generation of professionals — like the brilliant minds we nurture here at the University of Lagos — to build and manage these systems with integrity and insight.

“This forum today presents an incredible opportunity for us to 𝘭𝘦𝘢𝘳𝘯 from leading experts, policymakers, researchers, and industry stakeholders. We will examine case studies, debate policy frameworks, and explore collaborative pathways toward a more digitized, efficient, and fair Property tax regime in Lagos one that supports sustainable development and enhances urban resilience. Let me also commend the organizers of this International Week for choosing » theme that is not only intellectually stimulating but also directly relevant to the development challenges we face 𝘢𝘴 a megacity and as a nation. A𝘴 we proceed with today’s 𝘴𝘦𝘴𝘴𝘪𝘰𝘯𝘴, 𝘐 𝘦ncourage us all to engage with open minds, bold ideas, and a shared commitment 𝘵𝘰 progress, Let this not be just a 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 but the beginning of meaningful action, pol𝘪𝘤y reform, and Innovative partnerships, Once again, | warmly welcome you all and wish us a most fruitful and impactful programme.
The Lagos State Commissioner for Housing, Hon. Moruf Akinderu-Fatal, said, “We must note that the increased pull to Lagos bring new challenges: greater housing demand, infrastructure pressure, informal developments, and the perennial need for sustainable revenue to support our growth. This 𝘪𝘴 where property tax, and indeed, innovation — become critical tools for urban governance.

“For too long, property taxation in many developing cities has been hampered by manual systems, incomplete records, and limited coverage. Many properties remain unidentified, undervalued, or untaxed, resulting in significant revenue losses that could have been channelled toward public housing, urban regeneration, and infrastructure provision.

“In Lagos, we recognize that to manage a megacity efficiently, data must replace guesswork, and digital tools must power decision-making. Our administration, under the leadership of Governor Babajide Olusola Sanwo-Olu, has therefore embarked on an ambitious journey to digitize property information and integrate technology into urban management.

“One of our landmark initiatives is the Digital House Numbering and Addressing System — a transformative effort to assign every property in Lagos a unique digital identity.

“Each property is tagged with a QR-coded address plate, linked to a central database containing information on ownership, land use, and valuation. This innovation enhances the ease of locating properties, facilitates efficient service delivery, and forms the backbone for accurate property taxation.
“The system is being piloted in select areas, and the results are encouraging: improved property visibility, better data integration, and enhanced civic engagement. Once fully deployed, this initiative will revolutionize how we administer land, collect taxes, and plan our communities.

“Digital innovation in property tax is not merely about boosting revenue; it is about equity, transparency, and governance.”

He said, “Through the use of Geographic Information Systems (GIS), remote sensing, and automated valuation models, the State can ensure that assessments reflect the true market value of properties.

“For property owners, this means fairer taxation — no arbitrary assessments, no hidden processes. For government, it means increased revenue and reliable data to support planning and service delivery.

“For urban planners and environmentalists — many of whom are seated here today — it opens up new frontiers in data-driven planning, environmental monitoring, and sustainable development.

“Digital transformation 𝘪𝘴 not an end in itself. It is part of a larger vision to make Lagos a smart, inclusive, and resilient city.

“When every property is mapped and registered, we can: Deliver public utilities more effectively; Enhance emergency response times; Improve housing policy and urban design; and Integrate climate resilience into land-use decisions.

“This is how innovation translates into better quality of life for all residents.

“Of course, we must also acknowledge the challenges — Data quality and integration across agencies; Privacy and data security concerns; Public sensitization and willingness to comply; and Capacity building for continuous system management.

“But these are challenges we can overcome through collaboration — between government, academia, and the private sector. The University of Lagos, with its world-class faculty and research strength, 𝘪s a vital partner in this journey. Together, we can create a model for other African cities to emulate.
“We need you to design the algorithms, develop the software, and refine the policies that will make our city smarter and more efficient. To my colleagues in government: let us continue to embrace innovation — not as a luxury, but as a necessity for effective governance.

“And to the citizens of Lagos: paying property tax is not just a civic duty — it is an investment in the infrastructure, housing, and services that sustain our collective well-being.

“The fusion of digital innovation and property taxation represents one of the most powerful instruments for sustainable urban development in Lagos.

“By leveraging data, technology, and collaboration, we are not only improving revenue; we are building a smarter, fairer, and more inclusive city.”

Professor Diana Mitlin, African Cities Research Consortium, University of Manchester, UK, said, “There is a recognition that the state needs to be more effective in generating revenue from those who are able to pay and in finding new ways to redistribute that revenue to deliver services, my optimism for today is that the key people involved in building, in planning and developing the city come together in that discussion to identify how they can draw out revenue, how they can find. Ways to redistribute that revenue, and how they can make sure that all of those who pay tax, be it through property or indeed, consumption based taxes, all of them are represented in choices that will take the city forward.”

Bennett Oghifo

The Lagos State Government has bemoaned the state of housing deficit it is grappling with, saying though “reliable data is scarce”, but it needs “at least 500,000 additional housing units annually to meet demand. Delivery falls short at less than 20,000 units per year.”

The Special Adviser to the Lagos State Governor on Housing (Lagos State Real Estate Regulatory Agency LASRERA), Barr. Barakat Odunuga-Bakare, stated this in a speech she delivered at the Seminar of the Association of Estate Agents in Nigeria (Lagos State Chapter). She presented the “Government’s Perspective on Issues and Concerns of the Real Estate Agency and Regulatory Consultancy in Lagos.”

The Special Adviser, who was represented by the Director of Lands, Monitoring and Compliance Development, LASRERA, Mrs. Akibola Temitope Adenike, said, “Without accurate data on housing stock, land availability, and property transactions, both government and practitioners operate in the dark.”

Another concern, she said, “is affordability. A significant portion of Lagos residents – almost 70% by some estimates – live in rental accommodation. Access to housing finance remains difficult, and where mortgages exist, interest rates are often too high for the average citizen. This pushes people toward informal arrangements and unregulated operators.”

The government then complained about the nuisance caused by unregistered real estate agents.

The key issues and concerns, according to the Special Adviser, are the proliferation of quacks, adding, “The presence of untrained and unlicensed individuals continues to undermine the profession. According to LASRERA’s records, while over 1,000 practitioners have registered in Lagos, the number of unregistered operators is far higher. These quacks are responsible for many fraudulent transactions – from multiple sales of the same property to collecting rent for apartments that do not exist.”

She said reports reaching LASRERA show that real estate–related complaints rank among the top five consumer complaints in Lagos. Tenants complain of unfair rent hikes and hidden charges, while buyers face title fraud and delays in property delivery.”

She said, “Despite the LASRERA Law, compliance remains a challenge. Many practitioners either do not know about the law or deliberately ignore it. Government is therefore strengthening monitoring and sanction mechanisms, while also engaging stakeholders to encourage voluntary compliance.”

The government, she said, was also responding in practical ways, by “Strengthening LASRERA – expanding registration, simplifying online verification of agents, and providing platforms for reporting fraudulent practices.

“Public Sensitisation – campaigns toeducate citizens on the importance of engaging registered practitioners.“Dispute Resolution Mechanisms –promoting alternative dispute resolution (ADR) to quickly and fairly resolve property disputes without prolonged court cases. “Affordable Housing Initiatives –ongoing housing schemes through the Ministry of Housing and joint ventures with private developers to deliver new homes across Lagos. “Digitisation and Transparency –deploying digital platforms to improve title registration, transaction recording, and data collection to foster investor confidence.

Discussing ‘Property Law and Regulation Affecting Real Estate Agency and Consultancy in Nigeria’, Akinboyo Ayorinde Esq, quoted the National Bureau of Statistics for 2025, which says real estate has contributed 15.9% to the GDP of the country thereby making it the third largest contributor in Nigeria. Ayorinde said, “Enacting laws to regulate real estate and its business is therefore pivotal in order to maintain and enhance a better environment. It is worthy to note that without laws regulating this lucrative and income generating area in our society, the breakdown of law and order is imminent.”

Bennett Oghifo

The Lagos State Government has presented a grand plan to process about 6,500 tons of organic waste generated in the state daily to cut the emission of methane, a contributor to global warming.

The Managing Director of Lagos Waste Management Authority (LAWMA), Mr. Muyiwa Gbadegeshin, announced the launch of the project, which is being done in collaboration with Proganics Limited, during a of stakeholders, recently.

The stakeholders included; hospitality companies, eateries, event centers, hotels, and manufacturers of food and beverages, among others.

The LAWMA Chief Executive said, “Sorting of organic waste is very critical for us to achieve the clean Lagos of our dreams. This is because 50% of our waste in Lagos is organic, and that means we have about 6,500 tons of organic waste daily. And if we continue to take this organic waste straight to the landfill, what happens is that we will continue generating large quantities of greenhouse gas, specifically methane, which is a major contributor to global warming, to climate change, this is something we need to stop as a matter of urgency.” Gbadegesin said, “Waste, in general, contributes about 20% to the increase in global temperatures that we’re all experiencing. So that’s why the policy of the administration is to lower this organic waste. That’s lowering methane. Mr. Governor, made a commitment to this at COP 28 in Dubai. What we’re doing here is to put that into action by inviting stakeholders, facilities like hospitality, eateries, event centers, hotels and also manufacturers of food and beverages, who are some of the major generators of organic waste, and we’re enlisting them in collection of this organic waste, separate collection sorted. They are going to be sorting it separately, and then we’re going to take that to an organic waste processing facility.” He said, “Proganics has established a processing plant that can take about 200 tons of organic waste daily. So, it’s a small plant, but it’s something that will provide a good alternative treatment source for organic waste from the hospitality sector.

“The technology is quite innovative. It’s something called black soldier fly technology. Black soldier flies organic material into animal feed. It’s quite an advanced technology which is becoming more and more adopted in some developing countries like Kenya and Rwanda, and we’re introducing it to Nigeria.” He said in addition another technology would be introduced and this is the containers that will be used to sort the organic waste. “I mentioned that we’re going to be sorting the organic waste separately. So the state has smart bins. And the green smart bins are for organic waste, for food waste and organic waste. And these bins come with RFID tags. And we’re going to introduce IoT devices to tell when they’re full, so that they can be scheduled for pickup and transported to the processing plant.”

On payment for this service, he said, “One of the immediate incentives, especially for businesses, is that they are being charged according to the volume of waste they’re generating. So, if you are reducing the volume of waste you’re generating by sorting the organic waste and taking it to another facility, then that already reduces how much you’re going to pay to the PSP operator; so that’s an immediate benefit. But we are also looking at introducing other incentives as well, maybe rebates if you sort your food waste. For the residential customers we’re looking and we haven’t concluded on that, but we want to make it attractive to people, because as a society, it’s good for all of us.”

The Head Corporate Strategy For Progranics Limited, Ogee Augustine,

who described the company as a Research and Development Center, said they have been operating for about seven to eight years, and “we have taken our time to go through the opportunities we have with waste management in Lagos State, looking at what we’ve done here so far, with the data we have at our disposal, we’ve seen that Nigeria as a whole, generates tons of organic waste yearly, and there’s an opportunity in that market. Through Our R and D effort we’ve discovered that we can channel our end products in health, in agriculture, as well as the environment. That’s the more reason why we started to partner with LAWMA, knowing that LAWMA happens to be the biggest waste management agency in the country at the moment, with what they’ve done, the partnerships they have with the milestone they’ve created when it comes to channeling different types of waste, mesmerises one. We decided to partner with them to further make these things easier for us to process and to enjoy the benefits in all these industries.”

Fadekemi Ajakaiye

The Bole Festival, organised by Nonii Entertainment, has positioned itself as more than just a celebration of food, music, and art, aiming to generate economic opportunities for local communities and entrepreneurs.

Since its inception in 2016, when it attracted about 300 food lovers, the festival has grown into one of Africa’s largest cultural events, drawing over 40,000 attendees in 2025. The festival celebrates bole, a roasted plantain delicacy from Nigeria’s Niger Delta, often served with fish, and has expanded to include live music, fashion shows, art exhibitions, and food demonstrations.

Nonii Entertainment Chief Executive Officer Chinonso Iwuh said in a statement that the festival’s growth demonstrates the power of culture to create jobs, promote local businesses, and foster community development.

This year’s edition received sponsorship from global brands including Guinness, Johnnie Walker, MTN, Campari, Maggi and Moniepoint. The Nigerian British Council supported the programme by enabling 10 emerging artists to perform, which organisers said gave young Nigerians a chance to showcase their talent.

It said Rivers State Government has also remained a consistent supporter of the festival, which continues to provide commercial opportunities for vendors, artisans and small businesses, while giving local communities a chance to present their heritage to the world.

Organisers said the festival had become more than an event, describing it as a reunion of culture, food and people and an example of how Port Harcourt is positioning itself as a rising hub for cultural tourism in West Africa.

Bennett Oghifo

There are usually defects in every road construction work in progress, mostly due to natural causes, and these are constantly addressed before the work is done.

This was a clarification made by the Minister of Works, Senator David Umahi, during an inspection of a section of the Lagos-Calabar Highway being constructed by Hitech Construction Company.

The minister who was responding to stories of defects on the road on social media, also said contrary to these reports, the coastal road has underground drainages.

The minister said, “In an ongoing work, there are bound to be a few distortions here and there by nature. And then social media starts to fly that there’s no drainage. This is the only project in the whole country where you have 750 kilometer of roads, and you have, 750 times two of underground drainage all through. There are bound to be rain problems, where a project is not completed.”

Umahi commended the contractors, Hitech, for working ahead of schedule despite the technical challenges of sand filling and ocean encroachment.

According to him, “We had just about three meters for the ocean to break into that concrete carriage. But then we had to fight the ocean and the company that the ocean respects very highly is Hitech. So they came up with a combination of options that has seen us through in this section, starting from kilometer 13, and may end it at kilometer 15.”

He said, “We brought in geotextile to ensure the ocean does not leach into the sharp sand. On top of that, rocks are being layered at different levels. This is quite a lot of work and could be seen as a project on its own.”

Umahi said the contractor, Hitech Construction Company, had demonstrated “courage and commitment.

“No one else would have done this. There are so many unwritten things being done here for the stability of the job. It takes people that are committed to the development of the country.”

Umahi also clarified that the federal government did not request of N3.6 trillion for the rehabilitation of the Third Mainland Bridge in Lagos, stating that no final cost has been reached.

He said the figures trending in the media were “preliminary estimates from Julius Berger alone, which were never presented to the Federal Executive Council (FEC) for approval.

“What we presented to the council was not a request for N3.6 trillion or N3.8 trillion. We merely said this is what Julius Berger is saying, but we do not trust these figures because one consultant cannot give a reliable estimate. That was why we sought approval to invite a minimum of seven global contractors to carry out their investigations, designs and proposals. No approval has been given for any figure.”

He said the Carter Bridge would also be rehabilitated and that Julius Berger had given estimates for rehabilitation that would cost about N389 billion, and for its reconstruction as a cable-stayed bridge at a cost of about N359 billion.

He said, “These figures were extrapolated to the Third Mainland Bridge due to the similarity of structural defects. They are only indicative and not binding.”

The minister explained the degree of the defects in the bridges, saying, this had weakened the foundations of both Carter and Third Mainland Bridges, reducing their depth of penetration in some sections by over 60 per cent.

He said, “The level of degradation of the Carter Bridge is the same as that of the Third Mainland Bridge. The steel casings have rusted, concrete reinforcements have been exposed, and defects are progressing in geometrical progression.”

Umahi said the FEC directed that multiple contractors and independent consultants should verify the structural state of the bridges and determine whether rehabilitation or full reconstruction would be most economical.

He said the FEC also approved for private sector participation under a public–private partnership (PPP) arrangement, with the possibility of tolling the Carter Bridge once completed.

Bennett Oghifo

The Nigerian Conservation Foundation (NCF) has said it would do all that is necessary to partner the federal government in its proposed planting of 20 billion trees.

The Director General of NCF,

Dr Joseph Onoja, stated this during a dialogue by NCF members and other stakeholders on ‘Preserving

Nigeria’s Natural Heritage’, at the Lekki Conservation Centre in Lagos, recently.

Vice President Kashim Shettima, after touring multiple agricultural and industrial facilities across Ethiopia recently, stated, “We intend to plant 20 billion trees in the next rainy season. It requires a lot of planning, energy and drive which Ethiopia was able to galvanise its population into doing.”

Nigeria, he said, “Will embark on massive tree planting and its campaign thereof in the upcoming rainy season as part of its national reforestation and environmental sustainability drive.”

He said the initiative draws strong inspiration from Ethiopia’s Green Legacy Programme, which he described as a model for combining climate action with economic opportunity.

The NCF, Onoja said, would “partner with the federal government, especially in the light of the recent pronouncement by the Vice President Shettima in Ethiopia that Nigeria is going to plant 20 billion trees. 

“At NCF, we have a model of making sure that happens, and we are willing to partner with the federal government. We’ve partnered with the Federal Ministry of Environment. We’ve done some work under the National Forestry Trust Fund, and we are hoping that we engage the office of the vice president to ensure that his pronouncement comes to light, because that is what we want. “And it’s very important for us to mention that that will go a long way to ensure not just the integrity of the Nigerian ecosystem, but it will also provide jobs, green jobs. Imagine the value chain from collecting the seedlings to breaking the dormancy, to raising the seedlings, to planting and then to nurturing. We have about five value chains there where we can create green jobs. And you can imagine 20 billion trees. The number of green jobs that will be created will be enormous. And it will be a continuous thing, not just a one off, because growing trees takes three- four years. And with that, people will be able to develop themselves. And some of these trees will have economic value, so that by time you grow these trees, there’ll be such a way that they will grow, and then they will start providing economic value.”

He said, “The past year, 2024, was adventurous, I must say. And we advanced our tree planting activities with our partners, planting over 184,000 trees. We want to emphasise that we’re growing 184,000 trees, because we are not just planting, but ensuring that they grow because we want them to play the role they’re supposed to play in the environment. “And that is what we continue to preach, planting the right trees at the right places, the right quantity, the right number at the right time as well, and because we’ve been doing this over the years, it has placed us in a very advantageous position to be able to partner with the government.”

He called for collaboration in protecting the environment “so that the environment will protect us. It is not just a responsibility of the government.”

The NCF stakeholders’ forum, attended by conservationists, environmental advocates, nature

lovers, policy stakeholders, and researchers, was an interactive session on the urgent

need to protect Nigeria’s unique natural landscapes, endangered species, and biodiversity hotspots. Discussions spotlight local conservation efforts, community engagement, and the role of ecotourism in sustainable development. As the country faces increasing threats to its natural ecosystems, the gathering was also designed to celebrate the country’s rich natural heritage, while spotlighting actionable strategies

for its preservation, according to Onoja. 

Chairman of the Nigerian Conservation Foundation, Hon. Justice Bukola Adebiyi said advocacy on environmental preservation is a critical role the NCF plays.

“Our role is to educate you. Tell you what the problems are. Tell you how you can solve the problems, even in terms of planting trees. You know, there are certain kinds of trees that you have to plant that will quickly grow. There’re certain kinds of trees that will grow in your own community. So, those are the kinds of things that we do- advocacy, and that is how communities will benefit from the knowledge of NCF.

The Chairman thanked all their partners, particularly Chevron Nigeria, “because this foundation is run on philanthropy, on donations. It’s an NGO. So we have to thank everybody who partners with us, and then to thank those who believe in the cause of conservation. Because if we are getting all this money, and we don’t have people who are partnering with us and helping us, joining with us to fight the case of conservation, then we won’t be able to make any progress.”

An environmentalist, Desmond Majekodunmi said the dialogue was important, “because we’re having so many of these climatic catastrophes with heavy rain, causing terrible floods. And NCF is at the vanguard of this movement, using natural solutions and ensuring that we have tremendous amount of trees planted and protecting the forest.” 

Majekodunmi said, “Nature is our life support system, and NCF is doing a wonderful job. NCF is really driving community resilience. It’s  really pushing it big time now, because that’s what it’s all about. The community have to own the process, and once they own the process, it’s going to be done in the right way. So we’re so excited for what NCF is doing.”

Dr Chichi Menakaya is the CEO of UK-based Annomo Health Concierge. In this interview with the global surgeon championing Africa’s wellness future, the medical doctor speaks to Fadekemi Ajakaiye on her foray into Trauma and Orthopaedic Surgery, the hopes for Africa, challenges and her plans to build a global health ecosystem. Excepts.

Dr. Menakaya, you have become a force across surgery, entrepreneurship, and global health strategy. What was young Chichi like, and what led you to medicine?
As a child, I was special. I was bold and at the same time shy, but the world only saw the curious, outspoken, and sometimes too brave for my own good. I had the grace and blessing; and I call it blessing to be born by an extremely powerful and kind woman, with the genes of a larger-than-life father who breathed, spoke, and lived medicine. However, despite my luck, as my mum would say, I also witnessed things that planted a seed very early, how illness could change a whole family’s trajectory, how medical systems failed those who needed them most. I didn’t want to just help people feel better. I wanted to change the system that decided who gets better. That is how I found my way into trauma and orthopaedic surgery, which is one of the toughest, least diverse fields in medicine, especially for a woman.

Your name often comes up when people speak of Black excellence in medicine — especially in surgical circles. What inspired this surgical journey?
I always say I didn’t choose medicine; it chose me. As a Nigerian girl raised between cultures, I saw how the accident of your postcode or should I say continent could determine your life expectancy. I wanted to change that. So I entered a field not many who look like me dared to enter. That is Trauma and Orthopaedic surgery, where only a handful of Black female surgeons exist globally. I didn’t just want to succeed. I wanted to redefine the spaces we walk into.

How was that journey. Were there moments when you almost gave up?
Yes. Many. I was often the only Black woman in the room. Sometimes, I am made to feel like I didn’t belong. I have had my competence questioned, my voice silenced, my dreams delayed. I remember once being told I was “foreign” for a surgical career. Can I make you wonder; till date, despite heights achieved, I still continue to be doubted, undermined, and made to feel that I do not belong on the table. I laugh a lot because no one survives trauma theatre by being incompetent. So I focused on the people that truly matter-my patients. What I lacked in acceptance, I replaced with excellence. Every “no” became fuel. I love the word “no.” It helps me aspire for more.

How did you stay grounded through all of that. What kept you going?
My mother’s voice in my head constantly reminding me of whose daughter I was. Faith. Community spirit — that I couldn’t let my tribe down. And a very stubborn belief that I was born for more. I stopped asking for permission and started creating my own tables. That mindset helped me launch Annomo Health. I launched it not just as a company, but as a promise: that world-class healthcare can be built by us, for us, without compromise.

Let’s talk about Annomo Health — you are now listed in Tatler’s Address Book and serve clients across the UK, US, UAE, Europe and Africa. How did you go from NHS doctor to global concierge CEO?
By listening. My patients, friends, relatives weren’t just asking for treatment, they were crying out for trust, for discretion, for holistic care, and for the very best. A relative close to me was treated less than was expected despite him paying out of pocket. So I sat down, re-examined private healthcare, asked how the royal family choose their doctors, and said — it’s time to bring the best of the best to everyone who leaves their home to seek health outside their comfort zone. Executives, diplomats, celebrities, you and I — they all wanted the same thing: confidence that their health needs would be met without chaos, queues, or compromise — and more importantly, that they had access to the best and latest treatment protocols. So I built a bridge between clinical excellence and lifestyle intelligence. Annomo became that bridge.

You have done surgeries around the world, spoken at Forbes Middle East, and advised health leaders. Yet you have remained deeply committed to Africa. Why?
Because Africa is the origin of brilliance but we have let the world write our health narrative for too long. I want to flip that script. My dream is to see a Lagos where elite medicine is not outsourced but led from the continent and supported by the rest of the world. A Kenya where regenerative medicine is not imported but innovated at home. A South Africa where health isn’t just about survival but performance, longevity, and joy. It is time to build a global health ecosystem.

Interesting, please expand on that?
Nigeria, nay Africa is my heart. How can it not be? It gave me the resilience, the drive, and the wings to fly even when I felt broken. I knew that my ultimate goal was to learn and then bring the best home. I want to unite healthcare into a global village. I want people to see that health is an infrastructure for every part of our lives. I have operated in world-class theatres. I have walked the halls of top hospitals. But nothing gives me more joy than walking into a room full of not just African health leaders, but world leaders saying, “Let’s build our own future.” We have brilliance here — what we need is belief and infrastructure. So this year, in the very dynamic, bubbling city that does not sleep, we will rewrite the future of healthcare. We will be bringing the best minds and launch The Exclusive Health Circle Summit. It’s not just a conference. It’s a statement — that Africa can lead the global longevity conversation. That health is the new wealth. And that the future of wellness is being designed here by us, for us with the help of our global friends.

Tell us about the Summit. Why now and Why Lagos?
Because Africa is ready. The Exclusive Health Circle Summit is not a typical event. It’s a curated invitation-only gathering of global doctors, innovators, and investors committed to one idea: health as the new wealth. It will be a congregation of carefully selected pan-African leaders of industry, and we will be exploring the secrets of timeless health, from regenerative therapies and elite fitness, to longevity tech and spiritual alignment. But we are also asking big questions: What does it mean for an African to live well, long, and fulfilled? Lagos deserves to lead that conversation. Lagos has always led, not just in Africa but in the world. This time, we want to bring the world to Lagos.

What challenges did you face trying to bring this vision to life?
Plenty. Do you have all day? Building anything cross-border is complex — the logistics, the trust, ensuring we choose the right partners, curating the idea, and actually selecting who needs to join such a conversation. It is not a free-for-all — it is a movement. For the first time, it’s not just about speaking, congregating, or taking photos, it is about action. We recorded a huge success in 2024 with over 400 guests in multiple meet-and-greets who kickstarted the conversation, and the UK’s largest private hospital — The London Clinic, known for treating not just King Charles and Princess Catherine during their battle with cancer — held our hand and extended their expertise to Nigeria and Africa at large. Yet, the hardest part of this movement remains shifting mindsets. People are used to seeing Africa as the receiver of innovation and not the source. I had to fight to prove we could host a summit that rivals Davos or Aspen. But we’re doing it. And the world is watching.

You said you had to fight?
Yes, and I fought gallantly — with my shoulders held high. I was speaking to one of the world’s top hospitals about joining the conversation, and they kept saying, “Nigeria is unsafe, bring it to London, we will solely sponsor it. Why not the Middle East?” I laughed and said, “But you are happy to receive billions of dollars from Africa when we seek premium health at those moments, the money isn’t unsafe?”. It is time we ask people to put their work where they feed from. We need them to come and ask us, “What do you want? How do we work together?” That is why this summit is about the citizens who can help build an ecosystem. It is not just about doctors or hospitals, but about you — who, despite your private jet, may not survive a six-hour flight to London. It is time we start investing wisely because health is the only true investment that serves everything else.

You mentioned “health as wealth.” Can you explain that more?
We often say “health is wealth” as a cliché — but I mean it literally. You cannot build wealth without health. Investors are now asking: how do we future-proof our bodies? How do we live longer and better? That’s why the summit matters. It’s not just for doctors, it is for real estate leaders, artists, policy makers, wellness brands. Health is the infrastructure of everything.

For someone reading this and thinking, “I want to be in that room” — what’s your answer?
Despite the door currently being closed to a select few who are invited based on their commitment to build and their drive to bring the best home, I want to say that we will be creating a limited open door. But only to those who understand that this is not a health talk. It’s a movement. If you believe that Africa can lead the global health and wellness economy — we want to hear from you. If you are building, investing, or dreaming in health, longevity, luxury, or tech, the Summit is your space. And yes, we have left a few seats for those who dare to imagine more.

That is amazing. What should people expect from this summit?
Expect the unexpected. We are bringing together global doctors, investors, wellness innovators, biohackers, and cultural icons to decode “The Secrets of Timeless Health.” Think: health as a global currency of investment, peak performance, diagnostic excellence, and the economics of health, all in one room. It is strictly by invitation, but for those who believe health should be an investment class, it is the room to be in. Let’s just say that we are only just beginning.

Final words to women, especially African women who want to rewrite their story?
You don’t have to fit the mould. You are the mould. I’ve been the girl who was told, “No one will take you seriously.” I have been told, “You don’t belong. You are foreign. You will fail.” I’ve been told, “You belong in the kitchen — with your fancy clothes and shoes.” And yes, I love some fancy things. Now I sit across global boardrooms, summits, and conversations because I made that “no” mean next opportunity. Don’t wait for permission. You are the permission. You carry generations of strength, of sacrifice, of failures, and of silent triumphs. Build your legacy loud. And when the doors don’t open — carve a new entrance. I didn’t just want to fix broken bones. I wanted to fix broken systems. And today, I stand not as a finished product, but as a living testament: that your scars can be your strategy. You don’t need to roar to be powerful. Sometimes, you just need to walk in your truth, fully. This is your time. Our time. And Africa is listening.

Bennett Oghifo

The Nigerian Conservation Foundation (NCF) has called on everybody to take action in the fight against plastic pollution, because they handle plastic in their spaces daily. 

The Director General of NCF, Dr. Joseph Onoja stated this during the commemoration of the 2025 World Environment Day in Lagos, recently. The theme of the World Environment Day 2025 is Beating Plastic Pollution.

Onoja said, “It is very important that we all come together and the importance of this cannot be overstated, because sometimes we normally look at government we look at organisations to see that they are the ones who do the work of beating plastic pollution, but it lies on individuals. So I want to call on individuals, each individual, what are you doing to be able to beat plastic pollution in your space? 

The first thing to do is for us to refuse to use plastic. If we cannot, if we must not, then we shouldn’t, and that is why I’m happy with the Lagos State Government that has banned the single use plastics, and that is why we have a lot of people using shopping bags to go for groceries and so on.” 

He said, “If we cannot refuse and we must use it then we should be able to recycle it, after we’ve used it.”

Using plastic bags, he said, doesn’t make anyone an elite, but that elites know that they should use recyclable plastic always.

He condemned people who throw plastic bottles and bags out of their car windows while driving, saying it is a primitive way of doing things.

“Sometimes you find yourself driving behind a posh car, a car that you think that the person driving is enlightened, all of a sudden you see that they wind down their window and throw out plastic bottles. You just wonder what planet that person came from.

“I’m saying all of this so that we know that it is an individual responsibility not just the cooperate organisation, not just the government, but each and everyone of us have a role to play in beating plastic pollution.” 

However, he said there is a good thing about plastic crisis which is that it is turning into an economic opportunity because people are making money out of it. 

“I’m looking forward to a day when people would see plastic on the ground, they will rush to pick it up because that is money going there, and we have a lot of social enterprise coming up turning plastics or  recycling it into very useful materials.” 

He urged everyone to reflect on how to use plastic “to create innovative solution to some of the challenges that we are having. So, there lies an opportunity because once you provide a solution to a challenge and you are able to scale it then you will be in money.  Let us join hands to beat Plastic Pollution because it’s not just for the environment, it’s for us. I use to tell people that the environment does not need man, man needs the environment. The environment will thrive without us, so if we pollute the environment, the environment will pollute us, and we will  not be able to live the lives that we should live.”

He noted that while the school children were making their presentation during event, they said “imagine that you open your fish and you see plastics in it, you will not be able to eat that fish, but there are micro plastics that have embedded themselves into the fish tissue that we are consuming that ends up on our plates. So, it is our responsibility to take charge of our future by ensuring that our food don’t have micro plastics in them and don’t affect us. That is why we have different kinds of cancers these days that we can’t even trace to anything. Sometimes they are due to some of these things that we’ve already ingested into our system.”

The special adviser to the Lagos State Governor on Climate Change and Circular Economy, Mrs Titilayo Oshodi said, “There are so many other aspects of waste, beyond plastic, that are available for economic development, for green technology, for environmental sustainability. So, if we’re tackling pollution from a waste management perspective, it unlocks potentials for waste collectors. It unlocks potential and solutions for people who are in innovation and technology to be able to leverage digitised solutions to drive in efficiency for collection, for dispersion, for export purposes, for treatment of plastic. Our world is becoming more and more based on the level of evolution. There is textile, there is e-waste. You can imagine the sort of waste that we generate in Lagos, much less in Nigeria in e-waste. Your cameras, our telephones, our mobile phones, our TVs, our radios, the computers, the laptops, all of these waste, where do they end up? So we need to continue with opportunities, with events like this to help people to understand what is economically viable in the area of waste, in the generation of waste. 

“Now, it is waste in transition because the value X is infinitesimal. Waste can be converted to anything for anybody in any community, from cash to recharge card to subsidy in social amenity, transport. Lagos State has a cowrie card that we began to establish models and mechanisms where communities can have access to discounts in their cowrie card so that they can get onto the bus, they can get onto the rail, they can get onto the waterways. We have mechanisms right now that can help people to gather their waste and they can convert it in exchange for a health policy, the Lagos State Health Policy through LASHMA, the Lagos State Health Policy through different private organisations because we’re also beginning to integrate private sector corporates into this framework so that all hands can be on deck to ensure that we’re driving the right climate-friendly behaviour and the right attitude to managing waste efficiently and rightly. 

“We need to start being very mindful, being very intentional about how we manage our waste. Yes, we’re talking about plastic, but plastic is not the only waste that has been generated in an average home, in a typical home. Like I said, there is textile, there is e-waste, there is organic waste. There is cosmetics, those boxes, there’s cardboard, there is paper. We need to start being mindful about driving the sensational narrative. People need to start developing ways to connect with other people using waste. Establish an ecosystem or establish an eco school or establish an eco club in your community, in your church, in your mosques, at your place of work. Let there be a drive for sustainable environment. Drive for inclusivity. Create bands of that economic transaction for waste to be transitioned to valuable items.”

Bennett Oghifo

The Building Collapse Prevention Guild (BCPG), Niger State Chapter, has said that from their investigation of the flooding in Mokwa, Niger State, they have determined that it was caused by excessive rainfall and broken railway track dyke/embankment.

A statement by BCPG Niger State said, “Preliminary investigations suggest a combination of factors contributed to this disaster. According to the Nigerian Meteorological Agency (NiMet), the region experienced unusually intense rainfall.

“Unfortunately, the excessive water was reportedly compounded by a railway track dyke/embankment, which gave way under pressure, unleashing a high-velocity flood that swept through homes, culverts, and roads, leaving widespread destruction in its path.”

The statement, signed by Engr. Nasir Illo, MNSE, Chairman, Building Collapse Prevention Guild, Niger State Chapter; Arc. Ibrahim Shittu, MNIA, General Secretary, BCPG Niger State Chapter; and Sheshi Mohammed Raba, Builder, Public Relations Officer, BCPG Niger State Chapter said, “Our field assessment has revealed extensive devastation, characterised by significant damage to infrastructure and a profound loss of life. Over 580 buildings – predominantly mud houses – have been completely destroyed. Tragically, according to National Emergency Management Agency latest data, 161 lives have been lost as a result of the disaster.

“The level of destruction we witnessed in Mokwa is heart-wrenching and demands our immediate attention. The sheer number of homes flattened and lives lost underscore the urgent need for proactive, preventive measures to avoid such catastrophes in the future.

“While the rainfall was a natural event, the failure of critical infrastructure significantly worsened the impact. The floodwaters from the Mokwa town discharged into River Niger through the tributary River Dingi at Rabba Village, barring backflow.”

They made recommendations to prevent future occurrence. “We therefore call on all relevant authorities and stakeholders to act without delay. These include: The Federal and Niger State Governments: to provide immediate humanitarian assistance and commence full-scale rehabilitation for affected communities.

“The Nigerian Railway Corporation: to undertake a comprehensive technical review and reinforcement of railway infrastructure, especially dykes and culverts, to ensure resilience against future extreme weather events.

“Urban Planning and Development Authorities: to revisit and strengthen building regulations in flood-prone areas, prioritising the use of durable materials, effective drainage systems, and safer siting.

“Environmental and Hydrological Agencies: to carry out detailed hydrological studies, improve land use planning, and implement robust flood early warning and emergency response systems.

“This disaster serves as a sobering reminder of the vulnerability of our communities in the face of climate-related events, and the critical need for resilient infrastructure that can withstand such pressures.”

According to them, “Based on our observations, the following lessons are evident: The Nigerian Railway Corporation should not only maintain its core infrastructure but also assess flood risks posed by dykes and embankments supporting the tracks, as these may endanger nearby growing communities. Design standards should reflect the realities of extreme weather patterns and changing environmental conditions to prevent catastrophic failures.

“Niger State’s building regulations should mandate the use of durable, flood-resistant materials and climate-adaptive construction techniques—particularly in areas identified as high-risk flood zones.

“The scale of the disaster could have been significantly reduced with an effective early warning system and detailed hydrological risk mapping. Emergency management agencies at both state and federal levels should invest in real-time weather monitoring, flood modelling technologies, and proactive evacuation protocols.

“Urban development must be governed by strict land-use controls grounded in environmental and hydrological assessments. State planning authorities should enforce these regulations consistently to prevent construction in vulnerable zones and ensure sustainable land management.

“State and local governments should enhance their disaster response mechanisms through well-defined operational protocols, capacity building, and dedicated funding. Climate adaptation strategies must be mainstreamed into all stages of infrastructure development and emergency response planning to ensure long-term resilience.

“Post-disaster technical evaluations should be institutionalised as a core part of Nigeria’s disaster risk management framework. Findings from these assessments must directly inform policy reform, institutional strengthening, and continuous capacity development across relevant sectors.

“Following the visual assessment, the compressive strength of the culvert and associated concrete structures was evaluated using non- destructive testing equipment.

“Courtesy visits were also paid to the Ndalile of Mokwa, His Royal Highness Lile Shaba Aliyu, and the Executive Chairman of Mokwa Local Government, Hon. Jubril Muregi, to express condolences, share in the community’s grief, and offer technical advice aimed at preventing future occurrences.

“We at the BCPG Niger State Chapter remain committed to working collaboratively with all relevant bodies to ensure that the lessons from Mokwa are not only acknowledged but acted upon. As a multidisciplinary body, we are capitalising on  our diverse experiences to assist in preparing a detailed technical advisory report to submit to relevant ministries. We will continue to monitor the recovery process and offer our professional support as needed.”

Bennett Oghifo

Homebase Mortgage Bank, one of Nigeria’s foremost providers of mortgage and housing finance solutions, has secured initial ₦3.5 billion in funding from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF). MREIF is a collaborative initiative driven by the Federal Government through the Ministry of Finance Incorporated (MOFI), and some private sector investors, with ARM Investment Managers (ARM) as the Fund Managers. This is in line with the Renewed Hope scheme of the Federal Government of Nigeria.

Homebase Mortgage Bank is positioned as a top-tier and capable partner in the government’s housing delivery efforts, leveraging its proven expertise, strong operational systems, and customer-centric approach to scale housing finance for the underserved populations.

As a mortgage bank entrusted with this strategic investment, “We are honored to be selected as a recipient of this significant MREIF funding,” said Arinze Adigwe, Managing Director at Homebase Mortgage Bank. “This recognition underscores the government’s confidence in our competence and commitment to housing access. More importantly, it empowers us to extend even more affordable mortgages to everyday Nigerians.”

Deploying the Fund: Strategic Focus Areas
Homebase Mortgage Bank will deploy the MREIF funding to create mortgage loans and boost homeownership by offering affordable and flexible mortgage packages to low- and middle-income Nigerians. Through this initiative, eligible homebuyers can access home loans at 12% per anum interest rates, with repayment terms of up to 20 years. Additionally, by combining MREIF with the Family Homes Funds, homebuyers may qualify for even lower, single-digit interest rates, potentially below 10%. With an equity contribution or down payment of just 20%, individuals can access mortgage loans of up to ₦100 million.

Homebase will expand mortgage reach in Nigeria through its impact across the housing value chain, with a focus on: Digitizing mortgage application processes for greater speed, transparency, and inclusion; Launching homeownership advisory programs and financial literacy clinics to guide first-time buyers; and Hosting community housing forums across key cities to raise awareness about eligibility and access.

A Trusted Engine for Inclusive Growth
With over two decades of experience and a track record of innovation and integrity, Homebase Mortgage Bank stands out as a credible and proactive force in Nigeria’s mortgage banking landscape. The institution has consistently championed housing inclusion, and bridging the gap between aspirations and ownership for thousands of Nigerians.

“The MREIF fund is not just a fund injection, it’s a call to action,” said Arinze Adigwe. “At Homebase, we see this as a mandate to accelerate impact. Every naira we deploy will go towards building lives, strengthening families, and creating sustainable communities.”

Homebase Mortgage Bank is a licensed Mortgage Bank committed to providing accessible, innovative, and customer-focused housing finance solutions across Nigeria. With a legacy of over 20 years, Homebase continues to empower Nigerians to achieve their dream of homeownership, building not just houses, but futures.

Bennett Oghifo

Executive Secretary of UN Climate Change (UNFCCC), Simon Stiell, has explained that the new national climate plans (NDCs) – due from all countries ahead of COP30 – are “really about growth” and “are an antidote to economic uncertainty”.

Stiell stated this in a major speech at the 2025 Nature Summit in Panamá, yesterday. The Nature Summit coincides with the first of the newly reconfigured Climate Weeks resuming this year, also taking place in Panamá City. The new format has a strong focus on real-economy solutions, and aims to bridge the gap between technical dialogues, stakeholder engagement and real-world implementation. 

According to Stiell, “Clear and strong climate policies are an antidote to economic uncertainty.

Climate policy can help get trade flowing and economies growing. And prevent wildly destructive climate impacts. Providing signals from governments to markets.

To those investors ready to hit the ‘go’ button on huge investments.

“That’s why a new generation of national climate plans – or NDCs – are utterly essential. Here in Latin America, and all around the world.

“In the past, climate plans have often focused mainly on cuts – cuts to greenhouse gas emissions and to old-fashioned energy. This new generation of climate plans are really about growth. Growing industries and economies. And building a better future. One where nature is protected, and where people have better opportunities. 

“Done right, these plans can attract a bonanza of benefits. More jobs. More revenue. And a virtuous cycle of increased investment.

“But unless it’s implemented, an NDC is just a piece of paper. That’s why political leadership now, is so important.

“And the political and policy signals from almost all of the world’s largest economies are very clear: global decarbonization is unstoppable and continues to gather pace and scale. 

“From rapid technological advancements in Electric Vehicle charging, to breakthroughs in energy storage, all while the costs of wind, solar, and so many more clean technologies keep coming down.  

“And it’s backed by hard data – more than 90% of new energy last year was renewable.

“It’s clear in the words and deeds of the leaders who get it. Brazil, putting nature at the heart of their climate plan. Germany promising to invest billions in climate action to increase security. China, for the first time, saying it will set a new national climate target that covers every greenhouse gas and sector of the economy. 

“This isn’t only because of their better environmental angels. It’s because global decarbonization is the biggest economic transformation of our age, making it one of the biggest commercial opportunities we’ve ever seen.”

He said, “Cooperation makes all of us more prosperous. Every country wants to take advantage of a $2 trillion clean energy market.  

“And, while competition is a good thing, now is not the time for zero-sum thinking. We need to work together to ensure that everyone benefits. That new markets open and new trade routes form. 

“We simply cannot afford a two-speed transition, where some countries race ahead with clean energy and climate resilience and leave others behind. Because a supply chain is only as strong as its most fragile link.

“The good news is, we are also hearing loud and clear from heads of state that they remain committed to cooperation on climate. To build on breakthroughs we’ve seen at every recent COP.” 

Bennett Oghifo

Megamound Investment Limited has partnered with the Lagos State Government to deliver 378 units in the Greater Lagos County Apartments in Surulere.

This is a major urban renewal project that has seen an entire community in Surulere transformed.

In the all embracing public-private partnership project, the Lagos Building Investment Limited (LBIC), a licensed state primary mortgage bank and the foremost property developers have pooled resources and efforts together to build an ultra modern estate, broken down conveniently into 1, 2 and 3-bedroom apartments, respectively.

Located strategically at the end of Michael Ogun Street, off the busy Ojuelegba-Itire Road in Surulere, Lagos, the project which commenced in January 2021 occupies a vast land area of 31,000 square metres.

The project comprises 21 Blocks and  a breakdown of the housing units indicates 102 units of 3-bedroom apartments, 228 units of 2-Bedroom Apartments and  48 units of 1-bedroom apartments respectively. Majority of the blocks,18 in number, are on six floors while the remaining 3 blocks are on 4 floors.The Blocks bear beautiful names of cities in Lagos such as Yaba, Magodo, Ogudu, Obalende, Obele and others including Megamound and LBIC. 

The undeveloped ground and the roads are well paved and include Megamound Close and LBIC Road.

A unique feature of the apartments is the open plan nature of the 1 and 2-bedroom apartments with a kitchenette in the sitting room as it obtains abroad. 

Each house type has a furnished unit to model it. The finishes are of high quality-tiled floors, wooden doors and sliding doors leading to the terrace;windows are casement projected featuring 3 panel aluminium windows; kitchen cabinets are granite topped. The 3-Bedroom units have double terraces.

To serve the shopping needs of the residents is a shopping centre comprising 19 open plan shops. The Estate is fully serviced with modern facilities such as multi court, children’s playground, power house, water reservoir and treatment plant amongst others. The Estate is confined within a perimeter wall fence with four entrance gates including an emergency gate. 

The 3-Bedroom carry a price tag of N125 million, 2-Bedroom N85 million and the 1-Bedroom N70 million, respectively.

Lagos State Governor, Babajide Sanwo-Olu, who presented the estate, described it as a truly urban regeneration project because it was built on a former refuse dumpsite. 

Gov. Sanwo-Olu said, “Here was just a landlocked dumpsite that you cannot imagine we can turn around. I’ve been here a few times, and I know that this is a complete regeneration. This is a lost asset that has been turned into a viable real asset.

“The piling on each of these buildings, I’m told, is almost 25 meters, just so that you can stabilise each of them.”

Earlier, the Managing Director of Megamound Investment Ltd., Otunba Olumide Osunshina said the construction of the estate began five years ago in partnership with the Lagos State Government. “The project, actually, is in one phase. It’s just one single phase. And it’s 378 units of flats, one bedroom, two bedroom, and three bedrooms. And of course, it has a mall attached to it for the convenience of the occupants. “I’m happy about this project because there’s a lot of reasons to be happy about it. I recollect when we came to this site, it’s a dump site, what you call a brown site, and it looks like this kind of edifice cannot come out of it. So, I would say this is very serious hard work of almost five years between myself and our team- the Megamond team. So, we’re extremely proud about the outcome. And of course, for the community itself, it’s a big plus, because what you are looking at is an improvement in every way for the community, in terms of the economy, and the demography. I mean, we’re bringing 300 and almost 400 millionaires into their midst, because anybody who can afford this is obviously a millionaire. And it’s a positive for both the council and the community itself.”

Bennett Oghifo

The Managing Director of UPDC PLC.,  Mr. Odunayo Ojo has said that the company’s finance costs have continually reduced to the point where now they are actually having positive income.

Ojo, who stated this at a recent press briefing, also said UPDC is on an upward trajectory and that this performance would be sustained. 

“We are on an upward trajectory and with all the hard work of our management and staff and also the support of our customers and our stakeholders, we believe that this performance will be sustained.”

Ojo said finance costs, which was one of the issues that UPDC had in the past, “have continually reduced to the point where now we are actually having positive income.

“So that’s also some of the strategies that we have to put in place to restructure our capital base, restructure our cash flow to ensure we are poised for a brighter future.”

According to Ojo, “Property development continues to be a key driver of the business. We have a N9.2 billion contribution to turnover. Advancing services, that is just started but we anticipate that there will be a continuous growth segment overall in the business. “Hospitality is our second largest contributor to revenue at N1.4 billion, almost N1.5 billion and then followed by facility management which is 924 plus other income, was able to cross N1 billion last year to give us our total revenue N11.78billion.”

On expected growth, Ojo said, “Some key insights is to see that the hotel continues to grow in spite of what we saw after COVID-19. After COVID-19, the hospitality industry was almost ground to a halt because of the restrictions. But after that, we reopened this hotel (Festival Hotel) in 2022 after COVID-19 and we’ve continually seen the growth of the business. So that’s an area where we also want to take on investment, improve infrastructure and grow that part of the business.

“Our assets continue to grow as a business. So at the end of last year, the size was about N30.9 billion. Our shareholder funds have also grown, which means that as the company grows and as our capital grows, we will see a very strong response.”

UPDC, he said, intends “To target, beyond just the middle class, we also want to look at young professionals. The young professionals are a group of customers that a lot of developers are not focused on adequately. Because the young shall grow, if you look at what has happened in other parts of the world, people enter the real estate market just shortly after they leave school and they get into the labour market.

“What has hampered us in Nigeria has been the lack of proper mortage facilities that will allow you to pay low interest rates for a long period. But the good news is that we are seeing some initiatives in the market today that could support this product.

“So the first point there is that we are creating new urban centers. We are trying to move away from the usual prospects in terms of Lekki-Epe expressway in terms of Lekki Phase  One, in terms of Ikeja GRA and all those emerging locations. “We want to start looking at creating new urban centers in places that can support this kind of product.”

He said Epe was a other axis of Lagos UPDC is considering investing in, saying, “Because of the infrastructure, we can get to Epe, on a good day, in about 25 minutes. When there is traffic we can spend two hours. But the reality is that infrastructure is improving And over time, a place like Epe will no longer be considered as outskirts: it will be merged into the core of Lagos. “Places like Badagry, Ojodu, and so many other places, and even on the Lagos-Ibadan Expressway axis, there’s a lot going on there already. But they are sporadic and they are not well planned. You see developers just come and do something that cannot be sustained. But we are thinking very seriously of looking at these secondary markets and putting products there to sell in different categories. We want to focus on the workforce. I think the workforce can be a critical driver of growth in our industry.”

According to him, “Anybody that has a job, and has rent to pay, should be able to afford a home, because if you can pay rent, you can afford a home. That’s the truth. Someone has invested in that home that you live in. That could be you. You could be your own investor and pay yourself rent via some kind of financing model.

“So we are looking to crack that. We are working with such initiatives as the MRIF. It was initiated by this current government to bring down the cost of mortgage and to also give young people the opportunity to get mortgages at about 12% for over 25 to 30 years. So with those kinds of interventions, we believe that we want to support it and drive a lot of adoption in the workers segment. We are leaning very heavily on infrastructure.”

On technology and business growth, Ojo said, “If you, as a business today, are not thinking digital, you are just going to die. So, we are driving a lot of digital transformation. We are trying to move into the digital age and use such tools as AI and so many other contemporary tools to reach more customers and to serve our customers better.

“We are looking at doing other things. We just don’t want to be known as a company that builds building and those projects. We want to be known as a holistic real estate solutions provider. But whatever needs you have in real estate, UPDC should be able to serve you. Whether you have a property you want to manage, whether you have land you want to develop, whether you have a need in terms of hospitality, housing, commercial, retail, UPDC is your one-stop real estate shop. And that is also going to be where we are going to be focusing on in the future.”

The Project Development Manager, UPDC, Olatunde Jagun, discussed their exquisite project, the Hampshire, a five-hectare mixed-use development in Sangotedo which is further down the Lekki expressway after VGC.

Jagun said, “We launched that development in 2023 and started construction in 2023. It comprised about 62 plots approximately, comprising of both low-density, high-density, and commercial areas, trying to ensure that we complied with all the requirements of the state in terms of planning.

“It was completed in 2024. All our customers are now preparing all their plans to start building. So as far as we are concerned, that is 100% achieved.”

He said their next development is Brompton City, saying, “this is also targeted at the middle income. Brompton City consists of 300,000 square meters of land.

“We have delivered, it was proposed to do it in four phases, and we have delivered the first phase, which is completely sold out. 100,000 square meters was done last year. That was reflected in our performance last year.

“The next phase, which is ongoing, is for 125,000 square meters. Phase two and three combined. We’re currently at the design stage.

“The plan is to deliver first-class infrastructure, including roads, drainage, water treatment, and sewage treatment.”

Bennett Oghifo 

The collapse of a three-storey building (with  three suspended floors proceeding to fourth storey) under construction at , on Saturday, 19th April, 2025, was a stab on the  collective conscience of members of the Building Collapse Prevention Guild in Ojodu.

This is contained in a statement signed by the Coordinator, BCPG Ojodu Cell, Mr. Abiodun Adegoke, a Surveyor; General Secretary, BCPG Ojodu Cell, Mr. Dom Ibeh, an architect; Public Relations Officer,  BCPG Ojodu Cell, Mr. Femi  Ishola, a builder.

“The pain and regret within became severe as the number of casualties being unearthed in the rubble increased daily. Eventually, a total of  7 dead  bodies were recovered, while 13 persons sustained injuries, according to the Lagos State Emergency Management Agency. 

“The fact that this particular collapse with its accompanying loss of innocent lives was preventable made the wound inflicted on our conscience difficult to heal.

“How did the notorious and daring building collapse sandwich itself between Good Friday and Easter Sunday, thereby committing an unpardonable sin? It was really pathetic. 

“Sadly, the cause of this collapse was the non- implementation of the recommendations made following a similar collapse in that locality about 12 years ago.

“On Tuesday, 7th May, 2013, a four- storey building under construction at  collapsed, killing one person. According to information, the building, which was initially a bungalow, was acquired by Four Square Gospel Church. 

“The following day, Wednesday, 8th May, 2013, standing by the site of the collapsed building, the then Commissioner of the Lagos State Ministry of Physical Planning and Urban Development, Tpl. Toyin Ayinde held a meeting with members of the Building Collapse Prevention Guild (BCPG) Ojodu Cell over the  investigation of the collapsed building.

“Unravelling the cause(s) of the collapsed building would help avert a recurrence.

“The building was already being used for church services while the upper storeys were being added/constructed gradually. The building collapsed as construction work resumed on the fourth storey.

Important lessons were learnt. “Firstly, the danger of occupying a building that was under construction was identified.This defied the certification for fitness for habitation, which  has been a prerequisite for occupation of the building.

“Secondly, the danger inherent in the increase of floors/height of a building over a long period of time was amplified. 

“The structural integrity of an uncompleted building that has been exposed to the weather for a long period of time needed to be ascertained before additional loads could be imposed. Faveolate ferroconcrete absorbs water to the detriment of the intrinsic tensile strength possessed by the steel reinforcement bars. 

“Emphasis was laid on the revalidation of the construction permit of a building that was taking a long period of time to complete.

“Among other valid recommendations that were made by BCPG Ojodu Cell was the need to conduct structural integrity tests on the three-storey building adjoining the compound of the collapsed building.  The engagement of  competent professionals in the process of building development was  included. 

“Interestingly, the building that collapsed on Bashiru Street was about 150 m away from that of Oremeta Street. Despite the proximity of the two buildings, similar factors were experienced. 

“The building at , was also being constructed beyond the normal duration, thereby exposing it to severe  weather effects for years. 

“The ground floor of the framed structure was used as a restaurant, bar, and other entertainment activities. The building collapsed when construction work resumed after a very long break.

“Coincidentally, the location of the Lagos State Materials Testing Laboratory has been in Ojodu. Structural integrity and other relevant tests were readily available. 

“Usually, when construction activities halt in any building development projects, for more than 5 years, the project is termed “Abandoned Project.”

“For a continuation of the construction/site operations, all necessary precautions should be taken.

“The essence?  There could have been an overriding development control law to what was initially observed. 

“A building development is supposed to secure lives and property as well as not having a severe impact on the surrounding developments.

“Apparently, the lack of implementation of the BCPG recommendations made in respect of the 2013 collapsed building at Bashiru Street led to the collapse of the building at Oremeta Street.”

Revelation 

They said, “A recently constructed two-storey building is now occupying , where a four-storey church building collapsed in 2013. Was a building plan approval obtained on a government confiscated land?

“However, Section 74 of the Lagos State Urban and Regional Planning and Development Law of 2010 stipulates the forfeiture to the government, the land of any collapsed building. This punishment is sustained by section 25, sub-section 4 of the 2019 Lagos State Building Control Agency regulations that states thus:

“Any structure, which collapses due to negligence on the part of the developer of the property, shall be sealed off and forfeited to the State Government after due investigation and publication of the notice of forfeiture in the State Official Gazette.”

The Guild said, “This astonishing development at  deserves an immediate investigation. In 2010 and 2019, the seven built environment professional bodies in Lagos State hailed the enactment of laws and regulations respectively that would attenuate incidents of  building collapse in the state. 

“Building Collapse Prevention Guild, which serves as the coalition, the umbrella body of the seven built environment professionals, who are passionate and focused on the eradication of building collapse menace holds in high veneration the Lagos State House of Assembly. 

“The Assembly did  commendable work on the building collapse deterrent laws for both the Lagos State Planning Permit Authority and the Lagos State Building Control Agency. The operations of the Lagos State Materials Testing Laboratory and the Lagos State Safety Commission are guided by the bills passed in the Lagos State House of Assembly. 

“All these aforementioned agencies have monitoring officers. In respect of what happened at Ojodu, what punishments should be meted out to the culpables?

“Having done a yeoman’s job by providing us with the extant laws for safety in the built environment, the  Assembly should not rest on its oars.

“It should endeavour to tackle the dichotomy between policy formulation and implementation. Official investigation of every collapsed building, which is a prerequisite for the forfeiture of the land according  to the LASBCA regulations, is hardly observed.”

Prayers

They said, “The Lagos State House of Assembly should  ensure that the collapsed building at , is thoroughly investigated. 

“As a form of oversight function, the Assembly should set up a committee to find out the current state of the collapsed building sites in Ojodu and in Lagos State in general. 

“BCPG will, of course,  avail the Assembly a comprehensive list of collapsed building locations in Lagos State if requested. 

“Integrity is the hallmark of building collapse prevention. Safety of lives and property should not continue to be compromised.”

Bennett Oghifo

Nigerians have been urged to play individual roles in the environmental conservation as a way of mitigating the harmful consequences of climate change.

The advice came up at THE HERDS in Lagos on Easter Sunday. 

THE HERDS, a particularly unique and intriguing initiative in this category, blends art with climate advocacy and will visit major cities worldwide in 2025, including Lagos, Nigeria.

Produced globally by The Walk Productions, THE HERDS is a public art and climate project featuring life-size puppet animals fleeing their ecosystems in response to a rapidly changing climate that’s adversely affecting their well-being and way of life. For years, scientists, leading world organisations, and various NGOs have called for meaningful collective climate action. THE HERDS is doing the same, but with a focus on creating experiences and evoking emotions that will make people care enough to take responsibility.

The Director General of the Nigerian Conservation Foundation, Dr. Joseph Onoja said, “We are here because of THE HERDS. And this particular programme is to showcase the migration of THE HERDS. If you heard about the great Serengeti migration, that is migration of animals from one point to the other, especially when the place they are is dry. They normally move to a greener place to go and get more fodder or more forage. So that’s why they move from one point to the other. But it also shows the importance of the cycle of life, because sometimes when an area is not conducive, animals normally move from one point to other, apart from terrestrial animals, even aquatic animals move as well. 

But this particular event is organised to showcase how interconnected humans are to nature and also what role that we need to play to create that awareness, so that humans will know that we are not alone in this. Animals are part of our survival here on Earth.”

He explained that “Usually there’s a migratory pattern for animals, and because of the change in the climatic condition, those migratory patterns are being interrupted. And once you interrupt it, it affects us as humans. “Whatever I’m saying, I want to tie it back to us as humans, because at the end of the day, that is what matters, what happens to us as humans? “These animals don’t just exist on their own. They exist to provide what we call ecosystem service. And once this ecosystem service is no longer there, the ecosystem collapses, and this is the ecosystem that is supposed to protect and support us as humans. So if it collapses, then we’ll be in big trouble. That is why it’s very important for us to continue to create awareness on this. 

“Everybody is involved in the conservation of the earth. So ask yourself, what role are you playing to conserve the planet? Because as long as we conserve the planet, then the planet will be able to conserve us. But if we don’t protect the planet, then the planet will not be able to protect us. And as I come to say about the ecosystem service they provide for us, the fresh air we have, the fresh water that we have, the animals that we have, the plants that we have, the food that we have, are all very important.

“As Nigerians, we are certainly not doing enough, and that’s why we continue to create avenues to create awareness so that we will know what role that we need to play.” 

Onoja said the government’s policies on environment and conservation were not being implemented properly. “The government has policies, but those policies are not being implemented as they should. “But even apart from the government, as Nigerians, we have a big role to play. It’s not the government that goes around and clear forests, it is humans, it is individuals that are involved in it, so we need to know that our role is very important in all of this.

Also discussing environmental conservation, the General Manager, Lagos State Environmental Protection Agency (LASEPA), Dr. Babatunde Ajayi said the day’s event “highlights the importance of environmental protection, protecting the species, protecting the nature that you have around the environment, and I think it’s also a very strong educational tool that passes this message straight to children and kids in school, who will tomorrow pass it on to other people. So I think the organisers have done a great job. THE HERDS uses creativity and art theater to promote environmental protection and sustainability. We are the Environmental Protection Agency. We make sure that every single part of pollution, or every kind of pollution that affects the environment is abated in good time. So we talk about air pollution, land pollution, water pollution, in different forms and different ways that they affect the environment. These kinds of things endanger species, these kind of activities damage communities and make them uninhabitable for animals of other species and even plants.

“Projects like this help us propagate and emphasise our essence to the younger community, to younger kids and children in schools.”