Connect with us

General

Capital Market Can Attract Funds to Solve Nigeria’s Infrastructure Deficiency—Yuguda

Published

on

infrastructure deficiency

By Aduragbemi Omiyale

The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has again emphasised that the current infrastructure deficiency in Nigeria can be solved with the help of the capital market.

While addressing the new executives of the Chartered Institute of Stockbrokers (CIS) in Abuja over the weekend, he said all that was needed was for the government to partner with the private sector to bridge the infrastructure gap by approaching the capital market for funding.

“We have a huge infrastructural deficit in the country like insufficient power, lack of good roads among others. We want our country to have good infrastructure and I know this is possible with the help of the capital market and other stakeholders.

“It requires adequate planning and financing and we can achieve it as a nation. The capital market through the private sector can fund road construction while the government focuses on other issues,” the SEC DG said, appealing to the relevant stakeholders to cooperate with the agency to achieve this goal.

He also said for the capital market to attain full potential, all stakeholders need to ensure they carry out their functions with integrity and fairness in a bid to restore investor confidence.

Mr Yuguda acknowledged CIS as a key partner in the commission’s regulation of the market, assuring that the SEC would continue to provide the needed support.

“On behalf of the Board and staff. We will give you all possible co-operation you desire to make your job easy. We are here to support this market and make it the market we all desire,” he said.

The SEC boss stated that derivatives trading has commenced for people who want to manage their risk, adding that the SEC is working to increase the literacy of Nigerians so they can take better decisions.

“The future for this country is bright and we have the young population to push it. We can have a much better standard of living than we have now and we hope you will continue to give a lot to the market.

“We are committed to any initiative that will further spur the growth of the capital market. We also have a review of the ISA bill pending at the National Assembly and that bill has a lot that will revitalize this market,” he added.

In his remarks, the President of CIS, Mr Oluwole Adeosun, commended the SEC for the relationship that exists between the Commission and the Institute and thanked the Management for always supporting the organisation.

“Thank you always because you have embraced the institute and made it clear that you desire a very harmonious relationship and we are happy about it.

“You have shown this in your actions since you came into office and we appreciate you for all your efforts, we pray that investors benefit greatly from their investments in the capital market. Thank you for all your support to the CIS Bill,” he said.

The former President of CIS, Mr Olatunde Amolegbe, also thanked the DG for the efforts the management has been making to support the CIS, adding that the institute has been able to function effectively due to the support of the SEC.

General

FG Initiates Safety, Capacity-Building for Nigerian Dockworkers

Published

on

apapa Dockworkers

By Adedapo Adesanya

The federal government says it has initiated safety and capacity-building programmes, including provision of modern protective equipment for dockworkers and riverine transport operators, as part of its commitments for the welfare of dockworkers.

This was made known by the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, at the 2025 Day of Dockworkers in Lagos organised by the Nigerian Maritime Administration and Safety Agency (NIMASA) in partnership with the Nigerian Ports Authority (NPA) and the Nigerian Shippers’ Council (NSC).

The event held under the theme, Safe Port, Safe Ship, sought to bring the importance of safe working conditions and enhanced welfare of Nigerian dockworkers to the fore while also highlighting government Initiatives to improve safety standards.

In his keynote address, Mr Oyetola saluted the incredible work of dockworkers adding that their contribution is at the very core of Nigeria’s maritime economy.

The Minister, who was represented by the Director General of NIMASA, Mr Dayo Mobereola, observed that “today reminds us that our dockworkers are vital to creating a maritime industry where safety is assured and productivity increases.

“As dockworkers, you are the first link in the trade chain that fuels our economy and turns the potential of the blue economy into real national growth.

“Furthermore, the Federal Government has initiated safety and capacity-building programmes, including provision of modern protective equipment for dockworkers and riverine transport operators, as part of its commitments. Through NIMASA, we are enhancing safety training, improving emergency response capabilities, and enhancing professional development schemes.”

Also speaking at the event, the President General of the Maritime Workers Union of Nigeria (MWUN), Mr Francis Bunu, praised the Minister of Marine and Blue Economy, as well as agencies under his supervision especially NIMASA, for their commitment to dockworkers welfare.

According to him, “It is a great honour to join all dock workers in celebrating the 3rd edition of Dockworkers Day 2025. On behalf of the Maritime Workers Union of Nigeria (MWUN), I sincerely thank NIMASA, terminal operators, stevedores, and all maritime stakeholders for hosting this event and recognizing the vital role of dock workers in sustaining our nation’s maritime industry.”

He added that, “We deeply appreciate the leadership of the Honourable Minister of Marine and Blue Economy for his remarkable efforts in revitalizing Nigeria’s maritime sector, and the Honourable Minister of Labour and Employment for his steadfast commitment to the welfare and protection of Nigerian workers.”

In his goodwill message, the Minister of Labour and Employment, Mr Muhammadu Dingyadi, who was represented by Mr Emmanuel Igbinosun, Director of Productivity, Measurement and Labour Standards in the Ministry urged all stakeholders to remain committed to the ideals of safe work environment and appropriate remuneration for dockworkers in line with the International Labour Organisation (ILO) standards.

In their separate goodwill messages, the Nigerian Ports Authority, Nigerian Shippers’ Council, Nigerian Association of Stevedoring Operators (NASO), and Seaport Terminal Operators Association of Nigeria (STOAN) all commended dockworkers for their contribution to Nigeria’s maritime industry and pledged committed to ensuring enhanced welfare and safer working environment.

The Day of the Dockworker was organized by NIMASA in collaboration with NPA and NSC with support from the Federal Ministry of Marine and Blue Economy in recognition of the important, often hazardous job of dockworkers as well as raise awareness about Dockworkers.

Continue Reading

General

Nigeria Needs Cheap, Reliable Energy—Seplat

Published

on

Seplat Energy

By Faridat Yusuf

Seplat Energy says Nigeria needs cheap, reliable, and easy-to-get energy for everyone as the population is estimated to reach 237 million by 2025 and 400 million by 2050.

The Chief Operating Officer of the energy firm, Mr Samson Ezugworie, speaking at the 43rd NAPE Conference in Lagos, said, “The imperative before us is clear. We must build a prosperous Nigeria, and we can only do that with affordable and reliable energy that is accessible to all.”

The COO, in a statement issued by company’s Manager for Corporate Communications, Mr Stanley Opara, said over 70 million Nigerians still have no electricity and 170 million people use wood or other biomass for cooking, which is bad for homes and the environment.

“Today, more than 70 million Nigerians still lack access to electricity. More than 170 million people rely on biomass for cooking, and that’s terrible for the environment and for our households. And with Nigeria’s population projected to reach 237 million by 2025 and 400 million by 2050, the urgency to act is undeniable, because today’s problems will become far worse if we don’t take action now to solve them.”

“We will have 160 million more people to feed and house, and we need to create 100 million new jobs. But imagine what Nigeria can achieve if we do?” he queried.

He noted that Seplat Energy was working to produce more oil and gas. They are fixing wells, delivering gas from the ANOH Plant, and sending LPG from Sapele Plant.

“Our progress on gas initiatives like anoh, sapele, and lpg shipments is a testament to our commitment to nigeria’s prosperity. these projects are not just about energy; they are about transforming lives and powering nigeria’s development,” Mr Ezugworie said, adding that Nigerians should manage Nigeria’s resources and work with communities to build a stronger energy industry.

“We must also harness our huge reserves of gas and scale up gas and NGL production to expand domestic energy access, displace polluting imported generators, provide clean cooking for our people, and power our basic industries to support our national growth,” he said.

Continue Reading

General

NDLEA Teams Up With US, UK to Probe $235m Cocaine Shipment in Lagos

Published

on

NDLEA drug syndicate

By Adedapo Adesanya

The National Drug Law Enforcement Agency (NDLEA) is working with its US and British counterparts to investigate the origins of a $235 million cocaine shipment seized at Tincan Port in Lagos, in one of the country’s largest drug seizures.

NDLEA said in a statement signed by its spokesman, Mr Femi Babafemi, on Tuesday that it was working with the US Drug Enforcement Administration (DEA) and the UK’s National Crime Agency (NCA) to investigate after 1,000 kg of cocaine was discovered in an empty container at a terminal in Tin Can over the past weekend.

PTML operators, who noticed the consignment in an empty container, invited port stakeholders, including the NDLEA, Customs, and other security agencies, for a joint examination.

The drugs were formally handed over to the NDLEA on Tuesday after tests confirmed the substance was cocaine.

“After field tests confirmed the shipment to be cocaine, the consignment was formally transferred to NDLEA custody for further investigation on Tuesday, 11 November 2025,” Mr Babafemi said.

The operation followed collaborative engagements between NDLEA Chairman/CEO Mr Mohamed Buba Marwa and the Comptroller General of Customs, Mr Adewale Adeniyi.

“Due to the large quantity of the recovered Class A drug, valued at over $235 million (approximately N338 billion) on the international market, and the global dimension of the cocaine cartel, I directed that our leading international partners be involved in the investigation,” Mr Marwa said.

He revealed that officers from the US-DEA and UK-NCA have already joined the probe, focusing on ensuring all aspects of the operation are covered and that the masterminds behind the consignment are brought to justice worldwide.

“The essence of collaborating with our international partners on this case is to ensure no stone is left unturned, so that every perpetrator of this massive consignment is held accountable, wherever they are located,” Mr Marwa added.

Continue Reading

Trending