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NIPCO to deploy 20 new CNG stations nationwide

cngNIPCO Gas Limited has announced that it is constructing 20 additional compressed natural gas stations across Nigeria as part of efforts to deepen gas utilisation and support the Federal Government’s clean energy and post-subsidy reform agenda.

The Managing Director of NIPCO Gas Limited, Nagendra Verma, disclosed this during a media engagement held recently at his office in Lagos, where the company outlined its ongoing expansion initiatives within Nigeria’s evolving energy landscape.

“Aligned with the Federal Government’s clean energy and post-subsidy reform agenda, NIPCO Gas Limited, in a joint venture with NGML, is currently constructing 20 additional Compressed Natural Gas stations across Nigeria,” Verma stated.

He added that the expansion also includes the development of strategic compression hubs to support distribution nationwide. According to him, the nationwide rollout is designed to improve access to gas-powered mobility infrastructure along critical routes and urban centres.

Verma elaborated, “In addition, CNG mother stations located at Lekki and Ore are at advanced stages of completion.

These facilities will serve as primary compression and dispatch hubs, enabling the efficient supply of CNG to daughter stations and industrial customers across various regions.

“The nationwide expansion is strategically designed to ensure broader coverage along key transport corridors and high-traffic urban centres, thereby improving accessibility and affordability of CNG for commercial vehicles, fleet operators, mass transit systems, and private motorists.”

He explained that the company would leverage a network-based distribution model to extend supply beyond pipeline-connected locations.

“Through the mother-daughter network model, reliable gas supply will be extended to areas not directly connected to pipeline infrastructure,” he added.

Verma stressed that all facilities under development are being executed in line with regulatory and safety standards, adding that the expansion would have broader economic and environmental benefits.

“This expansion is expected to generate significant employment opportunities, reduce transportation fuel costs, stimulate enterprises within the mobility value chain, lower carbon emissions, and contribute to improved air quality,” he highlighted.

Emphasising the company’s wider commitment to Nigeria’s gas development agenda, Mr Verma said NIPCO Gas remains well positioned to advance energy security and sustainable growth through continued infrastructure investments.

Beyond the CNG rollout, the company is also expanding pipeline and distribution infrastructure in the South-West. Mr Verma disclosed that, pursuant to a mandate granted by the Nigerian National Petroleum Company Limited, NIPCO Gas Limited, in partnership with NNPC Gas Marketing Limited, is constructing an 18-inch, 80-kilometre natural gas pipeline from Sagamu to Ibadan.

He stated that the project is scheduled for completion by June or July 2026 and is expected to improve gas availability for industries and commercial consumers in Ogun and Oyo states, as well as adjoining areas.

“This critical infrastructure will enhance manufacturing competitiveness, reduce production costs for industries currently dependent on alternative fuels, and stimulate regional economic growth,” he asserted.

The firm is also developing gas distribution infrastructure from Sagamu to Abeokuta in Ogun State to deepen gas penetration within the South-West.

admin by — March 5, 2026 in Business 0
Fidelity Bank Advances Financial Inclusion in Kebbi as Community Celebrates New Branch Launch

Residents of Kamba in Dandi Local Government Area of Kebbi State have welcomed the opening of a new branch of Fidelity Bank Plc, describing it as a major milestone that will ease long-standing financial and logistics challenges faced by farmers, small-scale traders and individuals in the community.
The Chairman of Dandi Local Government Council, Dr. Mansur Isah-Kamba, described the branch as a welcome relief after years of limited access to formal banking services. Represented by the Council Secretary, Alhaji Abdulkadir Muhammad, Isah-Kamba noted that residents – including over 83 traditional rulers on the local government payroll—previously travelled long distances to Birnin Kebbi for routine banking transactions.
“With the opening of this branch in our locality, the stress, cost and time associated with banking outside the community will be significantly reduced,” he said. He also commended Fidelity Bank for its foresight and commitment to supporting farmers and small and medium-scale enterprises (SMEs).
On his part, the Sarkin Shikon of Kamba, Alhaji Mahmoud Zarumai-Fana, described farming as the primary occupation in the area will help improve commercial activities.
“Our people are predominantly farmers. Access to financial services will help them improve productivity and livelihoods. Farmers need support such as pumping machines, fertilisers, and pesticides, and proximity to banking services will make it easier to save, access loans, and participate in agricultural intervention programmes,” he said.
Speaking at the official inauguration ceremony, Regional Bank Head, North‑West Region, Fidelity Bank Plc, Mr. Muhammad Lawal‑Ahijo, highlighted the bank’s commitment to expanding financial access and supporting economic growth across Nigeria.
“Our decision to establish this branch is rooted in our belief that every community deserves access to reliable financial services that enable people to grow, businesses to thrive, and local economies to prosper. Kamba is a thriving agricultural community, and the decision to open a branch here is a strategic investment in the future of its farmers, traders, and households. While the infrastructure is for the bank, this branch belongs to the community. We encourage residents to take ownership by fully utilising the services available.” Lawal-Ahijo said.
He further noted the bank’s overall dedication to empowering informal sector workers and small and medium-scale enterprises (SMEs), adding, “Our goal is to bring banking closer to the people and support farmers, SMEs and households with accessible financial services that drive sustainable growth.”
In his remarks, a member of the Kebbi State House of Assembly representing Dandi Constituency, Dr. Abubakar Suleiman-Fana, said the new branch marked a significant step toward strengthening financial inclusion in rural communities.
“This is a milestone for our constituency. Financial inclusion is critical to rural development, and farmers, traders, and youths must take advantage of this opportunity to grow their businesses and improve their economic well-being,” he said.
Residents also expressed delight about the impact the new branch will have on their daily lives. A petty trader, Mrs. Hassana Abubakar, said she previously had to close her shop whenever she travelled to Birnin Kebbi for banking transactions.
“Now I can do my banking here without losing a whole day’s business. This will help my shop grow,” she said.
The opening of the Fidelity Bank branch in Kamba underscores the bank’s ongoing commitment to advancing financial inclusion, supporting rural economies and empowering farmers and small businesses across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
admin by — March 5, 2026 in Business 0
Navy, SIFAX Deepen Strategic Partnership to Boost Maritime Security in Lagos

The Nigerian Navy and SIFAX Group have reinforced their operational partnership in a renewed push to strengthen maritime security and protect critical economic assets within Lagos, Nigeria’s foremost port city.
The commitment was reaffirmed during a courtesy visit by the Flag Officer Commanding (FOC), Western Naval Command, Rear Admiral Mustapha, to the headquarters of SIFAX Group in Lagos.
Speaking during the engagement, Mustapha said the visit formed part of sustained efforts to deepen collaboration with key stakeholders operating within the Command’s area of responsibility. He noted that Lagos handles a substantial share of Nigeria’s cargo throughput, making strong cooperation between the Navy and major maritime operators essential.
He disclosed that the Western Naval Command has intensified intelligence-driven operations and expanded its maritime presence to enhance security across the waterways. According to him, maintaining credible security around ports and shipping corridors is vital for uninterrupted trade, energy stability and sustained investor confidence.
“Our mandate is to provide a secure maritime environment where businesses can thrive. We recognise the strategic role SIFAX Group plays in logistics, port operations, oil and gas, hospitality and the broader blue economy. Strengthening synergy with such stakeholders is critical to achieving sustainable security,” he stated.
The FOC further advocated structured information-sharing mechanisms between the Navy and maritime operators, stressing that timely intelligence from industry players serves as a force multiplier in combating criminal activities in coastal communities and along vital sea lines of communication.
Responding on behalf of the Chairman of SIFAX Group, Dr. Taiwo Afolabi, the Group Coordinating Director, Mrs. Wunmi Eniola-Jegede, reaffirmed the company’s longstanding partnership with the Nigerian Navy and pledged continued collaboration.
She described the Navy as a crucial partner in maintaining operational stability across the maritime value chain and expressed the company’s readiness to deepen cooperation in areas of mutual interest, including waterfront development, port expansion and corporate support for national defence initiatives.
“SIFAX Group remains committed to sustaining and strengthening its relationship with the Nigerian Navy.
“Security is foundational to our operations, and we will continue to cooperate in ways that promote safe waterways and national development”, she said.
The meeting ended with both parties agreeing to institutionalise engagement channels, enhance early coordination on strategic initiatives, and consolidate a partnership anchored on shared responsibility for national growth and maritime security.
admin by — March 5, 2026 in News 0
CBN receives locally sourced LBMA-Standard Gold into foreign reserves

…As Cardoso advocates reforms to unlock Nigeria’s mineral potential
 The Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards into its foreign reserves.
This brings the CBN’s total gold holdings to $3.5 billion, marking a significant step in its reserve diversification strategy.
The gold, sourced in Nigeria, was aggregated by the Solid Minerals Development Fund (SMDF) through the National Gold Purchase Programme (NGPP).
 The programme involves local miners and operates within a responsible sourcing framework aligned with the Organisation for Economic Co-operation and Development (OECD) Due Diligence Guidelines and the World Gold Council’s London Principles.
Speaking at the one-day Workshop on Strategies to Maximise the Economic Benefits of Minerals in Nigeria on Friday, February 27, 2026, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, disclosed that the CBN acquired the monetary-grade gold in Naira at pricing linked to LBMA benchmarks, a structure designed to preserve Nigeria’s foreign exchange holdings while strengthening the nation’s gold reserves. By purchasing domestically refined gold without deploying foreign currency, he said, the transaction enhances reserve accretion and supports broader macroeconomic stability objectives.
Mr. Cardoso also highlighted major shifts in global reserve management strategies, noting their increasing importance amid rising global economic uncertainties. He described the event as a reflection of Nigeria’s shared commitment to responsible and strategic management of its mineral resources. He emphasised that the workshop underscores the nation’s readiness to adapt to the realities of an evolving global economy, where resilience, diversification, and prudent governance have become increasingly vital.
He further explained that the session, convened by the CBN’s Corporate Secretariat and Reserve Management Departments, was designed to create a structured platform for engagement with key players in the gold sector and to deepen understanding of the industry’s current landscape, opportunities, and challenges across its value chain.
The Governor noted that central banks around the world are prioritising economic resilience amid persistent geopolitical and market uncertainties. Gold, he said, has regained importance as a hedge against inflation and volatility, while other critical minerals are increasingly shaping global supply chains and advanced industrial development.
Mr Cardoso emphasised that Nigeria’s immense natural and human resource potential can only be fully realised through prudence, strategic coordination, and long-term planning. He highlighted the need for strict adherence to internationally recognised standards, stressing that institutional credibility depends on strong governance frameworks.
The Executive Secretary of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Umaru Shinkafi, highlighted that the successful delivery of LBMAstandard gold demonstrates the strength of the organisation’s formalisation framework and supply chain duediligence processes. The World Gold Council’s Director of Central Banks and Public Policy, Ms Kurtulus Taskale Diamondopoulos, commended both the CBN and SMDF for designing the Nigerian Gold Purchase Programme (NGPP) in line with the twelve London Principles for responsible artisanal and small-scale gold sourcing. She noted that the partnership between the CBN as sole off-taker and the SMDF as fiscal and supplychain manager offers a strong model for other countries seeking to strengthen similar programmes.
The President and CEO of the Africa Finance Corporation (AFC), Mr. Samaila Zubairu, reaffirmed AFC’s commitment to financing and formalising Nigeria’s mineral sector, stressing the importance of accurate data and mineral processing infrastructure to attract investment, improve gold recovery, reduce environmental impact and support central bank purchases. Also speaking, the Executive Vice Chairman of Kian Smith Gold Company, Ms. Nere Emiko, underscored the urgent need for Nigeria to build strategic gold reserves and leverage commodity exchanges, noting the country’s low reserve levels relative to peers and calling for greater investment in exploration and transparency.
The Domestic Gold Purchase Programme forms part of the Central Bank’s broader strategy to enhance reserve quality, reduce external vulnerabilities, and position Nigeria’s mineral wealth as a pillar of long-term economic stability.
admin by — March 5, 2026 in Business 0
Nigeria’s Manufacturing Sector Loses Foreign Investment Appeal as Capital Inflows Plummet 54% in 2025

Lagos, Nigeria – March 2026 – Nigeria’s manufacturing sector suffered a sharp decline in foreign investment in 2025, even as total capital inflows into the country more than doubled, raising concerns about industrial growth and economic diversification.

According to the National Bureau of Statistics (NBS), total capital importation surged by 131.96% year-on-year, reaching $16.78 billion between January and September 2025, up from $7.23 billion in the same period of 2024. However, foreign investment in manufacturing plummeted by 54.11%, dropping to just $463.52 million—a mere 2.76% of total inflows.

Quarterly Volatility Highlights Investor Caution

The data reveals erratic trends:

Q1 2025: $129.92 million

Q2 2025: $261.35 million (brief rebound)

Q3 2025: $72.25 million (steep decline)

Meanwhile, overall capital inflows remained strong, rising from $6.01 billion (Q1) to $6.24 billion (Q2) before moderating to $4.53 billion (Q3).

Why Are Investors Avoiding Manufacturing?

Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria (MAN), blamed structural bottlenecks, inflation, FX volatility, and poor infrastructure for the sector’s declining appeal.

“Foreign investors are wary of long-term manufacturing projects due to high operational risks,” he said. “Unstable power, costly logistics, port inefficiencies, and policy uncertainty make Nigeria less competitive compared to sectors with quicker returns.”

Economic Diversification at Risk

Analysts warn that Nigeria’s reliance on short-term portfolio flows (rather than productive FDI) threatens job creation and industrialization. Manufacturing is crucial for economic diversification, but dwindling investment could:

Stall expansion plans

Reduce capacity utilization

Weaken job growth

What Needs to Change?

Industry leaders urge urgent reforms:

Stabilize FX & Curb Inflation – Restore investor confidence with predictable policies.

Fix Infrastructure Gaps – Reliable power, transport, and port efficiency are critical.

Ensure Policy Consistency – Clear regulations and incentives for value-added production.

Lower Financing Costs – Affordable credit is essential for local and foreign-backed ventures.

The Bottom Line

While Nigeria attracts record capital inflows, the real challenge is channeling funds into factories—not just financial markets. Without decisive action, the manufacturing slump could deepen unemployment and stall economic transformation.

admin by — March 5, 2026 in Business 0
ZENITH BANK SET TO HOST 2026 INTERNATIONAL WOMEN'S DAY SEMINAR IN LAGOS


Zenith Bank Plc will commemorate the 2026 International Women’s Day with a renewed call to
purposeful action and leadership. As part of preparations to celebrate this significant occasion, the
Bank is set to hold its annual International Women’s Day Seminar on Monday, March 9, 2026, at
The Civic Centre, Victoria Island, Lagos.
Aligned with the global theme ‘Give to Gain” which underscores the principle that sustainable
progress is achieved when individuals and institutions invest intentionally in women, Zenith Bank’s
2026 IWD seminar is themed “Take It, You Own It.” The theme reflects the Bank’s belief that while
institutions must give through enabling environments and equitable systems, women must also
step forward to claim space, own their value, and lead with confidence. It is both an affirmation and
a challenge: embrace opportunity, empower yourself and others, and take ownership of your
growth journey.
Building on the success of previous seminars, including the 2025 edition themed “Winning On All
Fronts”, Zenith Bank’s 2026 programme is designed to deepen meaningful engagement around
women’s empowerment, leadership, and sustainable impact. Over the years, the Bank’s
International Women’s Day initiatives have brought together women leaders, professionals,
entrepreneurs, and emerging talents for dynamic dialogue, inspiration, and shared learning around
gender equity, professional growth, and inclusive opportunity.
More than a commemorative gathering, the 2026 seminar is designed as a convergence of
influence, insight, and inspiration, bringing together accomplished women and progressive leaders
across business, governance, creative industries, technology, and social impact.
Speaking ahead of the Seminar, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji,
OON, who will deliver the welcome address, said “The International Women’s Day is a reminder
that progress requires intentionality. ‘Give to Gain’ speaks to the responsibility institutions have to
create real opportunities, while our theme ‘Take It, You Own It’ challenges women to step forward
boldly and lead. At Zenith Bank, we are deliberate about building environments where women are
supported to grow, thrive, and shape outcomes, not only within our institution but across the
communities and industries we serve.”
The seminar will include segments focused on leadership insight, professional empowerment,
wellbeing, and collaboration, offering attendees opportunities to engage deeply with thought
leadership and practical strategies for advancing equity.
With a carefully curated programme spanning keynote addresses, panel conversations, Q&A
sessions, and creative interludes, Zenith Bank’s 2026 International Women’s Day Seminar
promises to be a catalyst for meaningful action.

Through its alignment with “Give to Gain” and its bold seminar theme, “Take It, You Own It,” Zenith
Bank reaffirms its belief that when institutions give intentionally and women lead confidently, entire
ecosystems rise. As conversations around inclusion continue to shape the future of business and
society, the Bank remains resolute in its mission to foster platforms where women’s potential is
recognised, amplified, and fully owned.

admin by — March 4, 2026 in Business 0
Why I parted ways with Atiku – Adamawa Gov, Fintiri

Ahmadu Fintiri, Governor of Adamawa State, has explained the reason behind his political split from former Vice President Atiku Abubakar.

Fintiri said their separation was purely due to differences in party alignment.

Speaking during an appearance on Channels Television, the governor emphasized that despite belonging to different political platforms, he continues to share a cordial relationship with Atiku.

According to him, those who are genuinely committed to Nigeria’s progress must recognize one another as partners in nation-building, adding that his political stance is aligned with supporting a southern candidacy.

He dismissed suggestions of any breakdown in communication, noting that political disagreements have not affected their personal rapport.

“There is no strained communication with the former VP as a result of political differences.

“I still have; there is nothing that has gone bad. It is just that everybody has taken their political ways. I am today in APC, they are in another party,” he said.

admin by — March 4, 2026 in News 0
Plateau APC re-elects Bature as state chairman

Plateau State chapter of the All Progressives Congress, APC, on Tuesday, re-elected Hon. Rufus Bature as the Chairman of the party at its State Congress in Jos.

The well attended Congress had in attendance Gov. Caleb Mutfwang, deputy governor Josephine Piyo, members of the National Assembly, the Speaker and members of the Plateau State House of Assembly, elders and stakeholders of the party, chairmen of the 17 local government areas, local government party chairmen, and duly accredited delegates from across the state, as well as observers from the Independent National Electoral Commission, INEC.

In his remarks at the end of the exercise, Chairman of the State Congress Committee, Hon. Oscar Yelwa, commended party members for embracing consensus and democratic engagement, noting that the congress was convened to formally usher in a new state executive to steer the affairs of the APC.

In his acceptance speech, Bature pledged to reposition the party for greater strength ahead of the 2027 general elections, declaring that failure is not an option

Bature, who highlighted his long-standing service to the state, including working under three administrations of former governors Joshua Dariye, Senator Simon Lalong, and the incumbent governor, described his emergence as the party chairman as a huge responsibility, but assured party faithful that the new executive would uphold the ideals of the APC and meet the expectations of Plateau people.

In his address, Gov. Mutfwang described the Congress as historic and urged party members to remain united as one big family.

Mutfwang also emphasized the need for aggressive grassroots mobilization, and charged every registered APC member in the state to campaign massively and recruit at least 10 new members.

admin by — March 4, 2026 in News 0

Following persistent bandit attacks, the Nigerian military has reportedly taken over security operations in Alkaleri Local Government Area of the state.

The army declared that there would be no safe haven for criminal elements in the area.

DAILY POST recalls that the state governor, Bala Mohammed, had appealed to the Federal Government for urgent intervention following the invasion of communities in Alkaleri LGA by armed bandits.

On Tuesday, the governor received the General Officer Commanding (GOC), 3 Division of the Nigerian Army, Major General Eyitayo Foluso Oyinlola, at the Government House in Bauchi.
The GOC said his visit was in compliance with directives from the Chief of Defence Staff (CDS) to assume direct supervision of military operations in Alkaleri LGA following recent security breaches.

He informed the governor that the deployment of additional troops to Bauchi was aimed at restoring lasting peace in the affected communities.

The GOC assured that the military would adopt proactive and coordinated strategies to flush out criminal elements and prevent further attacks. He disclosed that both kinetic and non-kinetic approaches were already being deployed to restore normalcy.

According to him, troops have intensified clearance operations, strengthened surveillance across identified flashpoints, and enhanced collaboration with other security agencies to forestall further incursions.

He added that intelligence-driven operations are ongoing to dismantle criminal hideouts and disrupt the movements of armed groups within the region. Additional logistics and manpower have also been mobilised to ensure a sustained security presence in Alkaleri and surrounding communities.

admin by — March 4, 2026 in News 0
Suspended Ebonyi commissioner accepts blame, apologises to Gov Nwifuru

The suspended Commissioner for Works in Ebonyi State, Lebechi Mbam, has tendered a public apology following his indefinite suspension by the State Governor, Francis Ogbonna Nwifuru, over alleged dereliction of duty.

Recall that Governor Nwifuru at the weekend announced the indefinite suspension of Mbam and his Infrastructure Development for Concession counterpart, Ogbonnaya Obasi Abara, citing lapses in the discharge of their responsibilities at the Ministry of Works.

In a statement issued on his social handle after the suspension, Mbam acknowledged the weight of leadership and accepted responsibility for the unmet expectations under his watch.

“Leadership and mentorship come with the ability to take accolades and the courage to take correction and reprimand,” he stated.

The embattled commissioner reaffirmed his loyalty and accountability to the governor, describing him as his leader and mentor.

He emphasised that performance in the Ministry of Works remains a priority to the governor and noted that disciplinary measures, whether public or private, are intended to strengthen governance and improve service delivery.

“I take responsibility for the unmet expectations of the Ministry of Works under my watch. On behalf of the Ebonyi State Ministry of Works, I accept responsibility for the observed lapses,” he said.

Mbam further expressed regret over what he described as perceived disappointments and assured that recent developments would serve as motivation to reassess operations, improve weak areas and build on existing strengths.

“Your Excellency, I apologize for every perceived disappointment. We will do better, and a second chance will not be taken for granted,” he added.

admin by — March 4, 2026 in News 0