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Afreximbank Gives Ogun $200m for Infrastructure

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Ogun State Security Trust Fund

By Adedapo Adesanya

The African Export-Import Bank (Afreximbank) has given the Ogun State Government the sum of $200 million to support infrastructural development.

The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the Dapo Abiodun-led administration in the state.

The President and Chairman of the Board of Directors of the Afrexim Bank, Mr Benedict Oramah, made this known when he led the management of the bank on a courtesy visit to the Governor’s Oke-Mosan Office, Abeokuta, on Monday.

He said the bank would partner with the state on ensuring that the 250-bed Specialist Hospital, Abeokuta is completed and begin operations soon.

Mr Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines and other drugs, declared that Afrexim Bank was ready to collaborate with the state-owned Gateway Pharmaceuticals in a similar direction.

“We are willing to dedicate an envelope of $200m for projects and initiatives here in Ogun State; we will also be happy to see the hospital project. We will be very pleased to look at this asset and see how we can partner with your government.

“I assure you that we will consider the Gateway Pharmaceuticals in our plans to invest in the health sector,” he said.

The President added that the bank would be working with the state government in its quest to make its road infrastructure more accessible for investors, adding that the bank would be interested in the Cargo Airport being built by the state.

“On the highways, we are also developing, there is connectivity we are looking for in terms of how we connect Nigeria to the Benin Republic and others, connecting Ogun to Lagos and of course to the border.

“It is something that is of interest to us, if there is any road that goes from here to the border, connecting where you stopped, that will be interesting, we can work with you.

“The airport is also part of the metropolis, it is something of importance because we even have a project there called The Quality Assurance Testing Inspection Center. This will be critical for implementing this airport, we can assure you that it is something we would be interested in developing with you.

“We are willing under the $200m envelope that I mentioned, to provide technical assistance which can be granted. We will look at how we can support you to help you develop some ideas, some wonderful ideas you have shared with me, we will also provide advisory services.

“We can also use our Project Preparation Facility to help prepare projects. For example, this hospital we are talking about, we can use this facility to develop it,” Mr Oramah stated.

On his part, Governor Abiodun noted that the Quality Assurance Testing Center would complement the International Cargo Airport, adding his administration would continue to do all it can to make Ogun the destination of choice for investors.

He said that the administration had in the last few months embarked on the construction of roads across the state, especially the Ijebu-Ode-Epe, Agbara-Lusada-Atan Roads, which according to him, are capital intensive great, expressing his administration’s readiness to receive support from the bank.

“We have built one and we are building another at great expense to the state. These roads are federal roads and they are also commercial roads. We invite Afrexim Bank to partner with us, we intend to concession these roads and toll them so that we can recover our investment.

“Agbara-Lusada-Atan Road is the road that used to be called the Lagos-Sokoto Expressway. That road in its present state is very shameful and we have since intervened. We have awarded the contract of that road and it will be delivered in 15 months time at a great expense to the state.

“We will concession and toll these roads on completion. We invite Afrexim Bank to come and look at how to partner with us,” Mr Abiodun said.

The governor called on the bank to support his administration’s quest to build an international Cargo Airport, said the airport when completed would be a cargo hub for the country and the continent of Africa as a whole.

“Our International Cargo Airport that we are building in our Special Agro-Processing Zone, construction has started. It is our hope that the construction will be completed before the end of next year. We also invite Afrexim Bank to look at how to partner with us because it promises to be a cargo hub, not just for Nigeria, but for the entire continent.

“We look forward to seeing the Afrexim Bank create an MSMEs fund that would be targeted at MSMEs and also create clusters that would allow them to access the lands at reduced pricing with a phased payment plan. Such funds would allow the MSMEs to have access to the funding they would need to meet their demands.

“The success of MSMEs is very fundamental to any Industrial revolution. We are an industrial state, so, we have been deliberate with our support for MSMEs to the extent that we are creating clusters for them.

“We are creating these clusters that will allow them to access the lands at a reduced pricing with phased out payment plans so that they can have a land, title documents that they can use in leveraging and starting their enterprises,” the Governor said.

Mr Abiodun commended the bank’s support towards the production of vaccines and drugs in the African continent and its readiness to partner with Gateway Pharmaceuticals in a similar direction.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Dangote Cement Ibese Commissions Cassava Processing Plant in Ogun

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Cassava Processing Plant in Ogun

By Aduragbemi Omiyale

In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.

The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.

According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.

The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”

He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.

The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.

The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.

The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”

He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.

“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.

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FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing

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bdc operator

By Adedapo Adesanya

The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.

“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).

“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.

It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.

“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.

The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.

The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.

It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.

The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.

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Lagos Seals Radio Station, Others for Noise Pollution

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Wise FM Lagos

By Aduragbemi Omiyale

A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).

The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.

In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.

As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.

Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.

Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.

He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.

The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.

Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.

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