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Abia to roll out electric bus service before year-end

Abia State Governor, Alex Otti, is set to launch an Electric Vehicle public transport system tagged the Abia Green Shuttle Service, as part of efforts to modernise the state’s transportation network and promote sustainability.

According to a statement signed and released on Saturday by the Chief Press Secretary to the Governor, Ukoha Njoku Ukoha, the initiative aims to revolutionise public transport and position Abia at the forefront of sustainable mobility in Nigeria.

“The Abia Green Shuttle Service is part of Governor Otti’s broader and futuristic vision for a modern and sustainable public transportation system, which aligns with global best practices, climate change and environmental sustainability goals,” the statement partly read.

Ukoha said the project reflects the administration’s resolve to embrace cleaner energy sources.

“The State under Governor Otti has embraced the future over and above PMS, Diesel and CNG,” he stated.

He explained that the government plans to acquire 100 electric buses to operate within Aba, Umuahia and Ohafia, with modern terminals already under construction.

“The first batch of 20 electric buses acquired by the State with 10 charging infrastructure equipped with persons with disability solutions will be operational before the end of the year.

“A second batch of the same quantity is expected to be delivered by early next year with an additional 10 charging infrastructure,” Njoku said.

The statement further disclosed that in Aba and Umuahia, new bus stops are nearing completion to enhance comfort and efficiency for commuters, while route mapping is ongoing.

It also noted that the transport system will leverage renewable energy.

“The State’s sustainable transport system project will reduce dependence on grid electricity by utilising solar power and battery storage,” Ukoha said.

He added that the initiative will improve road safety, create jobs, and boost economic growth.

“It will enhance road safety and reduce accidents by having designated bus stops including creating employment opportunities and stimulating economic growth of the State,” he said.

Describing the project as a milestone in the state’s development plan, Ukoha said, “Governor Otti’s plan for a sustainable transport system is comprehensive and promising.

Dan Poster by — October 11, 2025 in General News 0
NLC urges tax on tech giants to retrain workers

Joe AjaeroThe Nigeria Labour Congress President, Comrade Joe Ajaero, on Friday called for a tax on the profits of technology giants and automated industries to fund comprehensive retraining and upskilling programmes for workers facing displacement in the era of artificial intelligence.

Speaking at the 2025 Conference of the Labour Writers Association of Nigeria in Ibadan, Ajaero warned that while AI is often presented as a marker of efficiency and progress, it is being deployed by corporations to deepen worker exploitation, erode rights, and increase inequality.

The conference, held at the Golden Tulip in Ibadan, focused on ‘The Future of Work in the Era of Artificial Intelligence’.

“We must bargain for comprehensive retraining and upskilling programmes, funded by a tax on the excessive profits of the tech giants and automated industries,” Ajaero remarked

He added, “Our struggle is to socialise the benefits of AI and robotise the burdens, ensuring it leads to a society with more leisure, greater security, and shared prosperity for the working class.”

The NLC president described the rise of AI as “the modern face of the class struggle”, noting that workers risk being pushed into greater precarity as companies prioritise profit.

“They sell us a narrative of efficiency and progress, but we must see it for what it truly is: a tool for maximising profit by de-skilling jobs, casualising labour, and ultimately, weakening the collective power of the working people,” the labour leader stated.

He cautioned that without safeguards, AI would reshape labour relations in ways that weaken collective bargaining, undermine unionisation and create a digitally dispossessed underclass.”

Ajaero urged unions and policymakers to press for protective legislation.

“We must fight for robust legal frameworks that guarantee the ‘Right to Disconnect’, strictly limit algorithmic surveillance, and ensure that productivity gains from AI are shared through shorter workweeks with no loss of pay,” he said.

Turning to labour writers, Ajaero reminded them of their duty to highlight the challenges facing workers, insisting that journalists were integral to the trade union movement.

“Your typewriters, recorders, and keyboards are no less important than our placards and negotiation tables. They are the instruments with which we shape the narrative, counter the propaganda of the bourgeoisie, and awaken the consciousness of the masses,” he told delegates.

Citing recent disputes at the Dangote Refinery and Petrochemical complex, he accused the company of violating Nigeria’s Labour Act, the Constitution, and international conventions by attempting to stop workers from joining unions.

“The recent violations of the rights of workers to join unions and the reckless attempts at de-unionisation of workers, all in the Dangote Refinery and Petrochemical, bear testimony to the unrelenting and pervasive power of corrosive capitalism,” Ajaero said.

He criticised the use of the media to spread disinformation, claiming attempts were made to blame workers instead of addressing breaches of the law.

Ajaero stressed that unity remained the most powerful weapon against corporate and technological exploitation.

“There is no room for neutrality in the face of this attempt to subjugate us to the forces of oppression. To stand on the sidelines is to side with the oppressor,” he said. “They have their AI, but we have our WE. Our collective power, our solidarity, is the ultimate intelligence no machine can replicate or break.”

Dan Poster by — October 11, 2025 in Business 0
Mission Possible – Unity Bank MD Celebrates Resilient Frontline Staff, Reaffirms Commitment To Customer Service Excellence

The Managing Director/Chief Executive Officer of Unity Bank Plc, Mr. Ebenezer Kolawole, has said that a service culture built on responsiveness and innovation will differentiate the impact that customer service can make in any organisation.

Making the remarks at the flag off of the Customer Service Week 2025 in Unity Bank, Mr. Kolawole stated that “apart from constantly improving the way in which better customer support can be achieved, the increasing sophistication of our customers have made the Bank to also begin to focus more on customer experience innovation with investment being made in technology, systems, and people which enable us redefine our customer journey altogether”.

While extolling the Bank for always rising to any occasion, the Managing Director celebrated the resilient frontline staff for their unwavering dedication and reaffirmed the institution’s commitment to delivering exceptional customer service across all touch points, stating that this year’s celebration, themed “Mission: Possible,” underscores the Bank’s unwavering belief that every customer needs can be met through innovation, teamwork, and with service culture.

“The Bank’s customer service teams are well acclaimed for their passion, professionalism, and resilience in fulfilling the institution’s mission to provide exceptional service to its growing customer base”, the Unity Bank MD further stated.

In further acknowledgement, Mr. Kolawole stated: “At Unity Bank, our mission is clear — to make banking simple, accessible, and rewarding for every customer. ‘Mission Possible’ captures the spirit with which we approach every challenge and opportunity to serve; whether through our digital platforms, branch interactions, or customer support channels”.

Additionally, the Bank’s Chief Customer Service Officer, Elfrida Igebu, emphasised the significance of recognising and celebrating staff who consistently go above and beyond to serve customers.

“This year’s theme reminds us that what may seem challenging is always achievable with the right attitude, teamwork, and customer-first mindset. Our frontline teams embody this every day by demonstrating that at Unity Bank, service excellence is not just a goal, it is our mission,” Igebu said.

Throughout the week, Unity Bank organised activities across its branches and offices nationwide to reflect the Customer Service Week 2025, from customer appreciation engagements, Award of recognition for Staff, setting up festive ambience and decor, flamboyant service and cultural costumes donned by members to digital media activations.

In time past, Unity Bank was among the first financial institutions to introduce a multilingual USSD platform, *7799#, and from then onwards, the Bank continues to upgrade features of its mobile banking platform, Unifi app, for optimisation, reinforcing customer experience innovation and convenience.

Dan Poster by — October 11, 2025 in Business 0
Dangote Refinery Clarifies Feedstock Imports, Reaffirms High-Quality Petrol Production

Dangote Petroleum Refinery has dismissed recent media reports alleging that it is importing finished petrol with high sulphur content into Nigeria, describing the claims as false and misleading.

 

In a statement issued on Friday, the company explained that, as a world-scale complex refinery, it processes a wide range of crude oils and intermediate feedstocks, which is a standard global practice aimed at optimising production and product quality.

 

“The cargo in question is an intermediate feedstock, not finished petrol,” the company said. “It will be fully refined in our processing units to meet both Nigerian and international quality standards.”

 

Operating within a Free Trade Zone, Dangote Petroleum Refinery said it refines and sells only high-quality fuels that comply with all regulatory specifications. The company added that its exports of petroleum products to the United States and Europe, among the world’s most regulated markets, underscore its adherence to international benchmarks for quality and safety.

 

Dangote Refinery further noted that all imported feedstocks are accompanied by quality certificates, which are transparently shared with regulators. “We are also willing to make these documents available to the public in the interest of full transparency and accountability,” the statement added.

 

The company reaffirmed its commitment to advancing Nigeria’s energy independence, maintaining global best practices, and delivering cleaner, high-quality fuels for both domestic and international markets.

Dan Poster by — October 11, 2025 in Business 0
INEC: ‘We’ll give Amupitan benefit of doubt’ – ADC

The African Democratic Congress, ADC, says it will give the new Chairman of the Independent National Electoral Commission, INEC, Professor Joash Ojo Amupitan, SAN, the benefit of the doubt in leading the electoral body.

This was contained in a statement by the party’s National Publicity Secretary, Bolaji Abdullahi, hours after Amupitan’s nomination was made public on Thursday.

The opposition party said it expects the professor of law to restore the confidence of Nigerians and the world in Nigerian elections.

“We are cautious. But we expect the new INEC Chairman to have a personal ambition to do better and restore the confidence of Nigerians and the world in Nigerian elections. He must understand that his loyalty is with the Nigerian people, not the government.

“We are willing to give him the benefit of the doubt based on his track record. But now he has the opportunity to make a good name for himself that his children would be proud of, or to soil his record and end up with ignominy.

“He should bear in mind also that his tenure will ordinarily last beyond one electoral cycle. He should therefore look beyond the interest of those who have appointed him,” the statement said.

Dan Poster by — October 10, 2025 in Politics 0
FG moves to audit varsities over TETFund grants

Minister of Education, Olatunji Alausa. Photo credit: FacebookThe Federal Government has directed all tertiary institutions to submit comprehensive reports on unutilised intervention funds received from the Tertiary Education Trust Fund within 30 days , saying “sanctions will be imposed on institutions that fail to utilise funds effectively.”

The Minister of Education, Dr. Tunji Alausa, gave the directive in Abuja on Thursday during a meeting with heads of tertiary institutions.

Alausa expressed concern over the huge sums of TETFund allocations that remain unspent across universities, polytechnics, and colleges of education, saying the situation has stalled infrastructural and academic development.

“Institutions must submit reconciled reports of all unutilised funds within 30 days, which will be jointly verified. Unused funds may be redirected to priority projects, and carrying them over without strong justification will no longer be allowed,” Alausa warned.

He added that procurement plans must align with approved interventions and urged institutions to fast-track approval processes to avoid project delays.

To ensure accountability, the minister said the government would introduce quarterly compliance reviews and capacity-building programmes to strengthen project management and reporting.

He also announced plans for a public dashboard displaying disbursement and utilisation data, alongside a requirement for institutions to publish project progress reports.

“Sanctions will be imposed on institutions that fail to utilise funds effectively. TETFund must enforce compliance and ensure transparency, while institutional heads should drive urgency and accountability,” he said.

TETFund had earlier expressed concern over the rising volume of unaccessed and unutilised funds by tertiary institutions. As of July 2025, the agency threatened to delist defaulting institutions and divert their allocations to those with a record of prompt utilisation.

Under the 2025 intervention cycle, TETFund allocated N1.6tn to Nigerian tertiary institutions for projects in campus security, direct interventions, and healthcare infrastructure.

Dan Poster by — October 10, 2025 in General News 0
N20bn Sukuk: TAJBank records 185.5% oversubscription

TAJBank LimitedNon-interest bank, TAJBank Limited, has recorded a 185.15 per cent oversubscription in its latest N20bn Mudarabah Sukuk bond offer.

In a statement on Thursday, the bank said the figure was based on data released by investment market authorities on the bond’s performance.

The data showed that the debt instrument, with an annual profit rate of 20.5 per cent, recorded an allotment of N57.03bn, representing 185.15 per cent oversubscription, a reflection of growing investor confidence in the bank.

Commenting on the performance of the offer, TAJBank’s Founder and Managing Director, Mr. Hamid Joda, described the N20bn Mudarabah Sukuk bond, which represents the second tranche of the bank’s N100bn Sukuk programme, as impressive given prevailing micro and macroeconomic conditions affecting the real incomes of Nigerians.

“Let me say that this outstanding performance of the Sukuk bond is a clear demonstration that the bank is enjoying growing investor confidence. This can only be attributed to the quality of innovative products and services, as well as the value addition TAJBank continues to deliver in the non-interest banking subsector, especially when analysed within the context of current realities in the debt instrument market,” Joda said.

He added, “I want to thank the board, management and staff of the bank, the regulatory authorities, and the investors for their contributions to the success of the bond issuance. I also assure them that TAJBank will continue to protect their interests to ensure a win-win experience for all stakeholders as we sustain our drive to remain the leading player in the nation’s non-interest banking subsector.”

Also speaking, the bank’s Co-Founder and Executive Director, Mr. Sherif Idi, said, “This investment feat clearly demonstrates investors’ trust in TAJBank, and we will continue to do our best to exceed their expectations through world-class products and services. As always, our focus remains on our customers and investors.”

Analysts in the investment market believe that, following the outstanding success of TAJBank’s latest N20bn Mudarabah Sukuk bond, more investors, businesses, and customers will be encouraged to engage with the bank to explore opportunities in its innovative products and attractive returns.

Since debuting in Nigeria’s non-interest banking space about five years ago, TAJBank has gained recognition for its adherence to global best practices in Islamic finance. The bank has received several awards, including the Global Islamic Finance Award 2023 for ‘Best Sukuk Deal of the Year’. It also won BusinessDay’s ‘Islamic Bank of the Year’ award in 2021, 2022, and 2023, and earlier clinched Leadership Newspaper’s ‘Bank of the Year’ award in 2020, among other accolades.

Dan Poster by — October 10, 2025 in Business 0
Fidelity Bank set to disburse NCGC N5bn credit guarantee facility to boost MSME financing

FIDELITY BANK SET TO DISBURSE NCGC N5BN CREDIT GUARANTEE FACILITY TO BOOST MSME FINANCING
Tier one Lender, Fidelity Bank Plc, has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme. The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.
This was disclosed by the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.
According to Dr. Onyeali-Ikpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.
The facility will cover critical sectors including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.
Dr. Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub for small businesses with a special arm – Creativerse, dedicated to the creative industry and the Fidelity Bank Education Support Scheme which provides affordable financing for educational infrastructure and technology upgrades.
“With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems—without compromising our risk standards or operational efficiency,” she added. “While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.”
Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.
Also speaking at the event, Managing Director of NCGC, Mr. Bonaventure Okhaimo, emphasized that the organization was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.
“Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,” he said. “Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”
Mr. Okhaimo added that NCGC and Fidelity Bank will also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.
The Fidelity Bank–NCGC partnership reinforces both institutions shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 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.
Dan Poster by — October 10, 2025 in Business 0
Moniepoint set to launch second edition of Nigeria’s informal economy report in Abuja  

A new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution, has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country. The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.
The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch on Friday, October 17, 2025, at the Abuja Continental Hotel.
Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.
According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.
“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement ahead of the launch.
The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.
The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.
Dan Poster by — October 10, 2025 in Business 0
Pay more attention to health, education, TUC tells Diri

Bayelsa Governor, Douye DiriThe Chairman of Trade Union Congress in Bayelsa State, Julius Laye, has called on the Governor DouyeDiri-led government to do more in spite of its achievements in several sectors of the economy.

Laye particularly mentioned the ongoing construction of roads, the acquisition of two aircrafts, gas turbines, construction of the nine-storey state secretariat building and offsetting of gratuities to retired local council workers amongst others.

But, he said the government should employ staff in the health sector to replace retiring staff otherwise, a situation would arise where there would be no staff to handle the facilities.

His words: “For me, I’m interested in the area that affects us even though I know that roads construction are going on. We have also been told that two carriers are coming in and then the gas turbines.

“So, in addition to those ones, just close to my window, the nine storey secretariat building is ongoing, salaries are paid as at when due and local government gratuities have been offset.

“They have offset that one and we are working towards seeing that of the state own too, which initially was N27 billion, and now has come down to N12 billion.

“So, after these areas, I will also emphasise that more attention should be paid to education and health, even though they are doing well in those areas.

“Civil Service Commission has employed, Post Primary Schools Board has employed, but I think that Hospitals Management Board has not employed for long.

“I talked with the commissioner that you have people retiring every month and every year, so if you don’t replace them, you have the facilities and the workforce is not there, you might not have the end result.

“So, with those ones, I will say fair enough, but more needs to be done.”

When reached for comment, the Assistant Publicity Secretary of the All Progressives Congress in Bayelsa State, Mr. Zuokumor said he would not want to say anything on the issue.

Zuokumor said: “I wouldn’t want to delve into that right now.”

The State Chairman of the Nigerian Labour Congress in Bayelsa State, Comrade Barnabas Simon could not be reached for comment as he did not pick his calls.

Dan Poster by — October 9, 2025 in General News 0