All Posts in "Dan Poster"

NAMA seeks urgent end to 50% revenue cut

Nigerian Airspace Management Agency – NAMAThe Nigerian Airspace Management Agency has appealed to the Federal Government to suspend the 50 per cent revenue deduction currently being made at source from its internally generated revenue, a practice capable of hindering smooth operations of the agency and hampering the safety of air passengers.

Before now, NAMA has been calling for the suspension of the mandatory 50 per cent deduction from its revenue, emphasising the need for the placement and modernisation of ageing navigational equipment currently in use across the country.

Speaking at the 54th Annual General Meeting of the Nigerian Air Traffic Controllers Association held in Abuja on Tuesday.

The Managing Director of NAMA, Ahmed Farouk, mentioned funding as the agency’s most pressing challenge, insisting that the deductions significantly constrain its ability to maintain and upgrade critical infrastructure required for safe and efficient airspace management and operations

Farouk stated, “The most significant constraint we face today is funding. This challenge is significantly exacerbated by the deductions-at-source of between 30 per cent and 50 per cent from NAMA’s internally generated revenue. While we understand the fiscal realities facing the government, these deductions are hindering our ability to execute vital projects.”

The NAMA boss added that the nature of its operations, particularly the need for continuous facility modernisation and statutory maintenance, demands consistent investment.

He argued that withholding half of its earnings leaves little room for reinvestment into the systems that uphold airspace safety and efficiency.

It further appealed to the government to consider granting a waiver on the deductions, describing such a move as a game-changer for the aviation sector.

According to the agency, should the waiver be granted to the agency, NAMA will rechannel the resources into critical infrastructure, modern technology, and workforce development.

He said, “The Honourable Minister, distinguished ladies and gentlemen, while we celebrate these achievements, we must also be candid about our challenges. Our most significant constraint remains funding. The scale of facility modernisation and the relentless cycle of statutory maintenance required to uphold the highest degree of safety and operational efficiency are capital-intensive.

“This challenge is significantly exacerbated by the deductions-at-source of between 30% and 50% made directly from NAMA’s internally generated revenue. While we understand the fiscal pressures on the government, these deductions severely limit our capacity to undertake the comprehensive projects our airspace demands.

“Therefore, from this esteemed platform, I wish to make a heartfelt appeal to the Federal Government to graciously consider a waiver of these deductions. Such a gesture would be a game-changer for Nigerian aviation safety. It would allow NAMA to reinvest every Naira of its earnings into critical infrastructure, cutting-edge technology, and the continued development of our human capital, the very ‘Human Edge’ we are here to discuss.”

NAMA also expressed its commitment to supporting the welfare and professional growth of its personnel, especially Air Traffic Controllers, whom it described as the custodians of Nigerian skies.

The agency pledged to remain a custodian of their growth and well-being and expressed hope that ongoing stakeholder deliberations would result in productive outcomes and guide future collaborations.

Dan Poster by — October 22, 2025 in Business 0
Dangote to double refinery capacity to 1.4 mbpd

Aliko DangoteThe President of the Dangote Group, Aliko Dangote, has said there are plans to expand the Dangote oil refinery from the 650,000 capacity to 1.4 million barrels per day, the largest in the world.

Dangote said this in an interview with S&P Global.

The PUNCH first reported in July that the refinery planned to scale up to 700,000 bpd by December this year.

According to S&P Global, the Nigerian business mogul is seeking to double the size of the refinery with Middle Eastern funding, putting it on track to become the largest in the world.

The Dangote refinery has transformed Nigeria into a net exporter of diesel and jet fuel and supplies vast quantities of petrol once imported from Europe.

Dangote was said to have described his ambitions to develop African energy independence as a “herculean task.”

“We have to build the refinery again, either here or somewhere else. But really, somewhere else is not possible because we’d have to go and spend so much building infrastructure, and we have the infrastructure already here,” Dangote was quoted as saying.

In Nigeria alone, S&P Global Commodity Insights projected that net gasoline imports could more than double from 2026-27 to hit almost 200,000 bpd by 2030, underpinned by economic development and rapid population growth.

“In July, Dangote unveiled plans to expand the refinery from its current 650,000 bpd to 700,000 bpd by the end of the year.

Now, the target is to reach 1.4 mbpd, with no specified date, a scale that would surpass the world’s largest 1.36 mbpd refinery in Jamnagar, India,” the report said.

Engineers working at the Lekki complex had said it was designed with room for growth, pointing out empty concrete plots capable of holding a second refining system.

Expanding could involve building a second refinery with the same configuration, one engineer said, potentially with the addition of a vacuum distillation unit to boost light ends yields.

Dangote said the company is also working on potential linear alkylbenzene and base oil projects and aims to grow its annual polypropylene capacity from one million metric tonnes to 1.5 million mt in the next few years.

Though the International Energy Agency said the world will already have 11.4 mbpd more refining capacity than it needs by 2030, concentrated mostly in China and India.

But Dangote was said to have rejected a model that leaves Africa dependent on imported fuel and remains determined to disrupt a market shaped by economies of scale. He warned that the continent will be in trouble without huge private investment.

“Most African governments will not have the capacity to build a refinery,” Dangote said, calling smaller projects like Angola’s new Cabinda facility “a drop in the ocean.”

Platts said the company’s own maturing debt was recently seen as a key funding hurdle before it secured a critical $4bn financing agreement in August.

To expand the refinery and develop a new petrochemicals project in China, Dangote is actively considering a strategic partnership with Middle Eastern companies.

“Our business concept is going to change. Now instead of being 100 per cent Dangote-owned, we’ll have other partners,” he said.

Within the next year, he noted that the refining business will list 5 – 10 per cent of its shares on the Nigerian stock exchange.

“We don’t want to keep more than 65-70 per cent,” Dangote said, explaining that shares will be offered incrementally subject to investor appetite and market depth.

He added that the door remains open for the Nigerian National Petroleum Company Limited to boost its stake after it trimmed its interest to 7.2 per cent, but not before its next phase of growth is well underway.

“I want to demonstrate what this refinery can do, then we can sit down and talk,” Dangote said.

It was reported that the plant’s main petrol engine, the residue fluid catalytic cracker, recently went offline in September shortly after a three-week turnaround in August, fuelling rampant speculation over future downtime.

Dangote Vice President responsible for overseeing refinery operations, Devakumar Edwin, said the RFCC restarted around October 7 and should soon be back at full capacity.

“We have resolved most, not all, but most of the problems. And I think we’re looking for a window when we shut down for another month,” Dangote said on the maintenance plans.

The month-long turnaround will involve shutting down the RFCC but not the CDU and other secondary units. The entire refinery only requires a full turnaround every five years, Edwin said.

Dangote said that the RFCC turnaround will be planned to avoid clashing with a seasonal demand peak towards the year-end, without providing dates.

Dan Poster by — October 22, 2025 in Business 0
Fidelity Bank Celebrates International Day Of The Girl Child with Debate Showcase

Fidelity Bank Plc, a leading financial institution, recently hosted a debate competition for female secondary school students as part of its activities to mark the 2025 International Day of the Girl Child.

 

Held at the Fidelity SME Hub in Gbagada, Lagos on Thursday, 16 October 2025, the She Leads Debate Competition brought together students from six secondary schools to argue for or against the topic: “In today’s world, is digital literacy more essential for girls than traditional life skills?”

 

Welcoming participants, the Divisional Head, Product Development at Fidelity Bank Plc, Osita Ede, represented by the Head of Women Banking, Harriba Harry-Pepple, emphasized the importance of equipping girls with relevant skills and support to help them thrive as adults.

 

“Each year, this day reminds us of the limitless potential within every girl, potential that must be nurtured, celebrated and given a platform to shine. Through HerFidelity, our Women Banking Initiative, we are committed to creating opportunities that empower girls and women to dream boldly, learn confidently and lead fearlessly,” Ede said.

 

He added that the debate was not merely a contest but a platform for young female voices to express their ideas, challenge societal norms and showcase their intellectual strength. “When a girl is educated and supported with opportunities for self-expression, she becomes a catalyst for positive change in her community and beyond.”

 

Following a spirited debate session, Chizaram Ekueme of Awesome College emerged the second runner-up, receiving N150,000. Nwatu Chidera of Brookstones and Best Brains International School took the first runner-up position with a prize of N300,000, while Chizaram Unachukwu of Cedec International School won the competition and received N500,000.

 

The International Day of the Girl Child, observed annually on October 11, is a global movement that highlights the unique challenges girls face and promotes their empowerment and the fulfillment of their human rights.

 

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

 

The Bank is the 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.

 

 

Dan Poster by — October 22, 2025 in Business 0
NDLEA moves to tackle drug abuse, streamline visa clearance

The National Drug Law Enforcement Agency, NDLEA, has launched a digital platform designed to make its drug integrity test and visa clearance processes seamless, more accessible, and efficient, while curbing the scourge of substance abuse and illicit drug trafficking in Nigeria.

The portal was unveiled at a press conference to flag off the digitization of the Agency’s Drug Integrity Test and Visa E-Administration System (DITViCAS) on Tuesday, October 21, 2025, in Abuja. The Chairman/Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa (Rtd), represented by the Agency’s Secretary, Shadrach Haruna, declared that the launch signifies “a paradigm shift in our fight against the scourge of substance abuse and illicit drug trafficking, a moment where enforcement meets efficiency, and commitment merges with cutting-edge technology.”

Marwa said that in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu, the Agency has maintained an aggressive, balanced, and uncompromising approach to tackling the menace of illicit substances, focusing on two critical fronts: Drug Supply Reduction and Drug Demand Reduction.

“For years, the process of obtaining an NDLEA Visa Clearance Certificate, required by certain source and transit countries, has been characterized by documentation, physical appearances, and lengthy verification cycles. This manual process was prone to human interference, delays, and other challenges.

“With the flag-off of the Online Visa Clearance Portal today, we are bringing an end to those bottlenecks. The system delivers automation across all processes and operations associated with the administration of the Drug Integrity Test and Visa Clearance, with interfaces for effective collaboration with partner agencies.

“It is also important to note that we have made provision on the system for private medical centres to partner with the Agency as accredited centres for the Drug Integrity Test. The system brings efficiency, flexibility, and convenience to the process. Following this ceremony, applicants for the Drug Integrity Test and Visa Clearance can now apply from home, choose a preferred location, and book a convenient date for both the applicant and the NDLEA desk officer, without having to wait all day at the NDLEA office.

“With the E-Certification and Verification system, the process eliminates drug and visa clearance certificate falsification and establishes reliability and transparency, with supervisory dashboards across our commands, formations, and headquarters.

“The extension of the service to students of tertiary institutions and others will significantly foster drug demand reduction across the country without stigmatization, while our rehabilitation and counselling centres remain open for those who test positive to ensure that no one is left without care.”

Speaking further, the NDLEA boss explained that “the portal integrates sophisticated background check protocols, ensuring that the certificate remains a robust security instrument that safeguards Nigeria’s international reputation and prevents drug syndicates from exploiting legitimate travel channels. This is a commitment to the Nigerian citizen, a commitment to stress-free, integrity-driven public service delivery.

He added that the Agency’s primary mission is to save lives, hence its advocacy for the Drug Integrity Test, which is founded on the principle of prevention rather than punishment. It serves as an early-warning system designed to help individuals who may be experimenting with substances, giving them an opportunity for intervention and treatment before dependence sets in.

According to him, “This new digital portal allows institutions, organizations, and individuals, including parents and prospective couples, to apply for drug integrity tests seamlessly. It provides a verified, standardized, and secure process for testing and issuing certificates. It is a non-judgmental pathway designed to support our national drive for demand reduction, fostering healthier communities, safer workplaces, and a more secure national labour force. This is the future of our War Against Drug Abuse (WADA) campaign, proactive, compassionate, and data-driven.

“This initiative is proof that the NDLEA is committed to leveraging technology to combat the evolving complexities of drug trafficking and abuse. It is part of a broader strategy to digitize all our operations, ensuring our processes are modern, secure, and world-class. The war against drug abuse is one we must win for the sake of our youth, our families, and the future of our nation. With technology as our ally, we are better equipped, stronger, and more resolved than ever before.”

He urged all stakeholders to embrace the new system and make full use of the platform, stressing that its success is a shared responsibility.

Dan Poster by — October 21, 2025 in General News 0
PENGASSAN strike: Reps seek protection for Dangote Refinery, strategic investments

The House of Representatives has passed a resolution to safeguard strategic private investments in Nigeria from future industrial actions.

This follows the recent strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, over its dispute with the Dangote Refinery.

The resolution was adopted after a motion jointly sponsored by Ado Doguwa and Abdussamad Dasuki was presented on the floor of the House.

The lawmakers, in the motion, stressed that the Dangote Refinery is located within a Free Trade Zone, FTZ, and as such, the strike action allegedly violated provisions of the Nigeria Export Processing Zones Authority, NEPZA, Act.

DAILY POST reports that the Act stipulates a 10-year no-strike rule for investments operating within FTZs.

The House expressed concern that the recent industrial action may have breached the NEPZA Act and warned of the potential consequences such disruptions could have on investor confidence and the country’s economic outlook.

The lawmakers further noted the financial losses incurred during the three-day strike and called on the Federal Government to urgently intervene and ensure that such disputes are resolved without jeopardizing vital economic assets.

The House also resolved to work on policy frameworks that will prevent similar occurrences in the future and charged its leadership to engage with stakeholders to address the growing concerns around labour actions affecting major private sector investments.

Dan Poster by — October 21, 2025 in General News 0
N4tn debt: GenCos say no deal yet with FG

The Managing Director/Chief Executive Officer of the Association of Power Generation Companies, Joy OgajiPower generation companies have said that discussions with the Federal Government on the N4tn power sector legacy debt are still ongoing.

This is despite the Federal Government’s claims that the implementation framework for the N4tn debt reduction had been finalised with the GenCos.

Speaking with The PUNCH, the Chief Executive Officer of the Association of Power Generation Companies, Dr Joy Ogaji, confirmed that the operators met with top government officials to discuss modalities for settling the outstanding debts but stressed that no concrete agreement had been reached.

In a statement last week, the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, disclosed that the Federal Government had taken a major step toward restoring financial stability and investor confidence in the electricity market with the finalisation of the implementation framework for the Presidential Power Sector Debt Reduction Plan.

She described it as a landmark initiative approved by Tinubu to address structural bottlenecks and lay the groundwork for large-scale private sector-led investment and sustained economic growth.

But Ogaji said there was nothing finalised yet with the Federal Government as far as the N4tn debt was concerned.

“Yes, the chairmen were invited to discuss modalities. I know that discussions are still ongoing. Nothing finalised or concretised. I can’t confirm it,” Ogaji told The PUNCH when asked to confirm if the payment plan had been finalised.

The Minister of Power, Adebayo Adelabu, had earlier announced that the Federal Government has approved a N4tn bond for the defrayment of the legacy debt.

But the GenCos said they were not carried along by the Federal Government or the Nigerian Bulk Electricity Trading Company.

Ogaji had in September written a letter to NBET seeking clarity and wondering why GenCos were not carried along during the verification process.

In the statement, Tinubu’s energy adviser said that on October 7, she, alongside the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Minister of Power, Adelabu, met with senior executives of Nigeria’s electricity generation companies to review settlement modalities for the outstanding debt.

The meeting, it was learnt, concluded with a consensus on the way forward, which includes conducting bilateral negotiations to finalise full and final settlement agreements that balance fiscal realities with the financial constraints of the GenCos.

Reportedly approved by Tinubu and endorsed by the Federal Executive Council in August 2025, Verheijen said the plan authorised the issuance of up to N4tn in government-backed bonds to settle verified arrears owed to generation companies and gas suppliers.

The intervention was said to be the largest in over a decade, addressing a legacy debt overhang that has constrained investment, weakened utility balance sheets, and hindered reliable power delivery across the country.

At the meeting, the Chairman of Heirs Holdings and Transcorp Power was quoted as saying, “For the first time in years, we are seeing a credible and systematic effort by the government to tackle the root liquidity challenges in the power sector. We commend President Tinubu and his economic team for this bold and transformative step.”

The Group Chief Executive Officer of Transcorp Plc, Owen Omogiafo, disclosed in April that the Federal Government owed the company up to N650bn for the power generated.

The Group Managing Director of Sahara Group reportedly echoed a similar sentiment, saying, “This initiative is significant in every respect. It gives us renewed confidence in the reform process and a clear signal that the government is serious about building a sustainable power sector.”

Verheijen had said that the focus of the government was on creating the right conditions for investment, from modernising the grid and improving distribution to scaling embedded generation.

According to her, by closing metering gaps, aligning tariffs with efficient costs, improving subsidy targeting to support the poor and vulnerable, and restoring regulatory trust, the nation was shifting from crisis response to sustained delivery and building the confidence needed to attract large-scale private capital.

Edun noted that the reforms were beyond liquidity: “They are about rebuilding the fundamentals so that Nigeria’s power sector works for investors, for citizens, and for the next generation.”

It was learnt that the Presidential Power Sector Debt Reduction Plan is being jointly implemented by the Federal Ministry of Finance, the Federal Ministry of Power, and the Office of the Special Adviser to the President on Energy, in collaboration with the Nigerian Bulk Electricity Trading Plc and other key stakeholders.

Despite these assurances, GenCos remain cautious, insisting that the implementation details are still under discussion. Operators said they were waiting for concrete timelines and clarity on verification procedures before confirming any agreement.

Ogaji had earlier stressed that despite the patriotic commitment of operators to keep the lights on, factors outside their control make it nearly impossible to sustain generation. She listed gas supply, maintenance of machines, procurement of spare parts, and obligations to other creditors as key challenges.

“Gas suppliers have already started reducing supply. There are critical maintenance works on our machines, spares to purchase, and other creditors who are no longer willing to wait for payments. They now prioritise those who pay them promptly,” she stated.

The APGC boss revealed that GenCos’ monthly invoices average N270bn, but only about N70bn is paid, leaving N200bn outstanding every month. She faulted the 2025 federal budget, which earmarked N900bn for the power sector without cash backing, calling it grossly inadequate.

Dan Poster by — October 21, 2025 in Business 0
Abia Govt insists on Otti’s loyalty to LP, dismisses fresh APC defection rumour

Abia State government has dismissed fresh news reports claiming that Governor Alex Otti has defected from the Labour Party and joined the All Progressive Congress, APC.

Some persons from Abia State had last week, uploaded a picture of Governor Otti where he visited Governor Peter Mbah, a few days before Mbah’s defection to the APC.

According to them, the visit was part of Governor Otti’s alleged approach to smoothen his entrance into the ruling national party.

However, the Abia State government, on Monday, through the Commissioner for Information, Okey Kanu, described the news about Otti’s defection as a fabrication by political propagandists.

“Governor Alex Otti remains a committed and proud member of the Labour Party, the platform under which the good people of Abia overwhelmingly elected him to serve.

“His focus remains unshaken, to rebuild Abia, restore accountability, and deliver the dividends of democracy to every citizen of the State”, the Commissioner said.

He advised the public to disregard the report and treat it as another cheap propaganda.

Dan Poster by — October 21, 2025 in Politics 0
No faction in lmo ADC – Party South-East Vice Chairman Unachukwu

The Imo State chapter of the African Democratic Congress, ADC, has dismissed claims suggesting the existence of factions within the party.

The party clarified that it remains one united and indivisible family under the legitimate leadership of Professor James Okoroma, the duly recognised State Chairman.

The national leadership of ADC, which affirmed that there is no faction in the Imo ADC, had directed that all activities, communications, and official engagements are to be conducted solely under the supervision and direction of the Professor James Okoroma-led State Working Committee.

This was contained in a statement issued on Monday by ADC National Vice Chairman, South-East, Sir Bon Unachukwu, and made available to DAILY POST.

“We advise the public, party faithful, and media to disregard unauthorised statements or actions from individuals or groups not recognised by the national leadership. The ADC remains committed to unity, transparency, and democratic advancement in Imo State and Nigeria,” Unachukwu stated.

Dan Poster by — October 21, 2025 in Politics 0
Sterling Bank leads Africa’s Green Revolution…

…with Agriculture Summit Africa 2025
 Africa’s agricultural rebirth gathers momentum as Agriculture Summit Africa (ASA) 2025, the continent’s foremost platform for advancing sustainable and inclusive agricultural transformation, returns under the bold theme ‘Survival of the Greenest: Reclaiming Africa’s Food Destiny’.
Scheduled for November 6–7, 2025, at the Transcorp Hilton, Abuja, ASA 2025 is set to spotlight financing pathways to drive sustainable growth in the agricultural sector.
Now in its eighth year and convened by Sterling Bank, the summit will bring together policymakers, agribusiness leaders, investors, and innovators from across Africa and beyond to explore innovative solutions to the continent’s agricultural challenges.
Furthermore, the event will foster collaboration and innovation, examining how green finance, digital tools, and climate-smart practices can transform Africa into the world’s next agricultural powerhouse.
Addressing attendees at the press conference to announce plans for the summit, Abubakar Suleiman, Managing Director and Chief Executive Officer of Sterling Bank, emphasised the Bank’s purpose for convening the summit, noting that, “At Sterling, we believe Africa’s food future will be secured not by chance but by deliberate, collective effort.”
“Our commitment is rooted in the conviction that agriculture is central to Africa’s transformation, socially, economically, and environmentally. ASA 2025 is a platform that has galvanised this transformation by uniting policymakers, innovators, and investors around one shared goal: reclaiming Africa’s food destiny through sustainability and innovation.”
With over 60% of the world’s uncultivated arable land and a rapidly growing population, Africa holds immense potential to become a global agricultural powerhouse.
However, productivity challenges, limited access to finance, and the escalating impacts of climate change continue to hinder food security. ASA 2025 will leverage multi-sector partnerships and policy alignment to accelerate the continent’s transition from dependence to self-sufficiency.
“This year’s theme, ‘Survival of the Greenest,’ underscores both the urgency and the unique opportunity before us,” commented Olushola Obikanye, Group Head, Agric Finance and Solid Minerals at Sterling Bank. “Africa’s food future lies in sustainability, innovation, and collaboration.
ASA provides a platform where governments, financiers, innovators, and farmers can engage meaningfully to design solutions that strengthen agricultural value chains, unlock financing, and foster inclusion. Agriculture is not just an economic imperative; it is the heartbeat of Africa’s transformation,” he added.
The two-day event will host delegates from over 30 African countries, providing valuable opportunities for networking, policy engagement, and investment facilitation among agribusinesses, innovators, and financiers enabling access to capital.
The event will also feature high-level panels, keynote addresses, policy dialogues, exhibitions, and an Investment Deal Room (a marketplace designed to connect investors with viable agribusiness ventures and initiatives).
Sunbeth Global Concepts, a global agro-commodities sourcing and trading company, will co-convene the summit, contributing its expertise in agribusiness strategy, capacity building, and development partnerships.
Eyitemi Adebowale, Head of Corporate Affairs and Communications at Sunbeth, spoke to the company’s commitment to sustainable agriculture, saying, “We are proud to co-convene ASA 2025 because we believe the future of Africa’s development is rooted in sustainable agriculture. Through this summit, we aim to spotlight solutions that empower farmers, attract investment, and promote climate-smart practices that build resilience across the continent.”
With strategic partners including Mastercard, which will lead discussions on digital tools for agricultural transformation, ASA 2025 is poised to ignite a movement toward innovation and financial inclusion within the agricultural sector.
Other key sponsors and partners include the International Finance Corporation (IFC), The Alternative Bank, Arzikin Noma, ONE Foundation, Noor Takaful, Bühler, and many others.
Agriculture Summit Africa (ASA)
Agriculture Summit Africa (ASA) is the continent’s foremost platform for advancing agricultural innovation, investment, and sustainability. It brings together leaders from government, business, and development sectors to foster collaboration, share insights, and drive action toward a resilient, inclusive agricultural future for Africa.
Interested participants and organisations can register at www.agricsummit.org.
About Sterling Bank Limited
Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group. With a heritage of over 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.
Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at large.
Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.
Dan Poster by — October 21, 2025 in Business 0
LASG disburses N1bn pension to 463 retirees

LASG logoThe Lagos State Government has disbursed over N1bn pension to 463 retirees from the state’s civil service.

The sum of N1,006,057,173.45 was credited into the Retirement Savings Accounts of retirees drawn from the mainstream civil service, local governments, local council development areas, the State Universal Basic Education Board, Teaching Service Commission, and other state parastatals.

Speaking at the 111th Retirement Bond Certificate Presentation Ceremony held at the NECA Auditorium, Alausa, Ikeja, on Monday, the Head of Service, Bode Agoro, described the event as a testament to the Governor Babajide Sanwo-Olu administration’s commitment to the welfare of workers, both serving and retired.

“Under Governor Babajide Sanwo-Olu’s leadership, Lagos has remained consistent in ensuring the prompt presentation of bond certificates to retirees, leading to the speedy payment of their retirement benefits,” Agoro said, adding that the gesture reflected the huge premium the governor placed on the welfare and well-being of senior citizens.

Agoro, who was represented by the Director, Post Service, Public Service Office, Bukola Durodola, urged the beneficiaries to use their entitlements judiciously, saying that the state government remained committed to the welfare of retirees after service.

In his welcome address, the Director-General of LASPEC, Babalola Obilana, said Governor Sanwo-Olu’s commitment to regular pension payments had positioned Lagos as a model of effective pension administration in Nigeria.

“Despite the economic challenges faced globally and locally, Lagos State remains one of the few in the federation that consistently fulfils its pension obligations,” Obilana said.

“This feat has been achieved through prudent financial management, fiscal discipline, and the governor’s strong political will to prioritise retirees’ welfare,” he added.

Obilana noted that LASPEC had automated its processes to enhance transparency, accountability, and efficiency.

In September, LASPEC also disbursed N1.52bn retirement bonds to 798 retirees.

Last week, it assured retiring public servants of prompt processing and remittance of their benefits, provided their documentation was in order.

Dan Poster by — October 21, 2025 in General News 0