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FBNQuest, Experts to Discuss Infrastructure Project Financing in Nigeria

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Infrastructure Project Financing

By Ashemiriogwa Emmanuel

A virtual event to bring together industry experts with the aim to discuss the current trends in infrastructure project financing in Nigeria is to be hosted by FBNQuest.

The webinar, which is scheduled to hold by 12:00 pm on Friday, November 12, 2021, is themed Mobilizing Onshore and Offshore Capital for Strategic Infrastructure Projects in Nigeria and is part of the Leading Conversations with FBNQuest webinar series.

The series, which started in 2020, was created by FBNQuest to bring market, industry and consumer insights and analysis that are crucial for individual and corporate success.

The forthcoming webinar will provide the floor for experts to discuss critical issues that connect with financing strategic infrastructure projects in Nigeria, addressing investments, potential funding sources, partnerships and risk mitigation strategies.

The effective implementation of policies in Europe, the Middle East and Africa (EMEA) regions and how they can be applied in Nigeria will also be examined in the interactive panel discussion moderated by Mrs Ifeoma Finnih, the Head of Oil, Gas and Infrastructure, FBNQuest Merchant Bank.

The key players in the industry who will be speaking at the webinar include the Head Debt Solutions, FBNQuest Merchant Bank, Tonna Ejiofor; Head Corporate Funding, Africa Finance Corporation, Modupe Famakinwa, as well as the Director of African Development Bank, Martin Orji, among others.

Announcing the virtual event, the Group Executive and Head Investment Banking & Operations, FBNQuest Merchant Bank, Mr Patrick Mgbenwelu, noted that financing options and structuring approaches would be required to bridge the Infrastructure gap considering the estimated Infrastructure deficit at approximately $1.5 trillion over the next 10 years.

He said, “Participants at the webinar session will be enlightened on the various ways in which infrastructure investments can support in driving rapid economic growth in Nigeria.”

The webinar is also open to the general public but will require registration before the time it has been scheduled to commence via https://bit.ly/MobilizingCapitalWebinar.

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Nigeria Okays Alphanumeric Digital Postcode System to Boost Delivery

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By Adedapo Adesanya

Nigeria has finally approved the use of an alphanumeric digital postcode system for the country, 17 years after it was first considered.

According to the Minister of Communications and Digital Economy, Mr Bosun Tijani, the system was okayed at the Federal Executive Council (FEC) meeting on Wednesday, chaired by President Bola Tinubu, in line with the ministry’s strategic blueprint.

He said working in collaboration with the Nigerian Postal Service (NIPOST), the ministry will introduce a modern, geospatially intelligent addressing system that improves accuracy across the country and enables faster and more reliable mail and parcel processing.

“Beyond strengthening postal operations, the Digital Postcode System will also serve as an important national enabler supporting better national planning, improved emergency response, more efficient logistics and e-commerce, and the delivery of government services.

“As our digital economy continues to grow, foundational systems such as this play an essential role in building the infrastructure required to connect people, businesses, and services more efficiently across the country,” he said.

He noted that the approval represents another step forward in the Mr Tinubu-led administration’s commitment to building the enabling environment to support a modern, inclusive, and globally competitive digital economy.

On her part, Ms Tola Odeyemi, the Post Master General and chief executive officer of NIPOST, said the implementation is a foundational step toward building the digital infrastructure required for a modern economy.

“First conceptualised in 2009, this initiative is finally becoming a reality in 2026 under the leadership of President Bola Tinubu and the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani,” she wrote on X, formerly Twitter.

“A digital postcode system is more than a postal reform. It is critical national infrastructure that enables e-commerce, logistics, emergency services, financial inclusion, security, urban planning, and effective public service delivery,” she added.

By introducing an alphanumeric addressing framework, Nigeria will now be able to identify locations with far greater precision across cities, towns, and rural communities.

“This will significantly improve how goods, services, and digital platforms reach Nigerians everywhere.

“This milestone reflects a shared commitment by the Federal Government to strengthen Nigeria’s digital backbone and unlock new opportunities for innovation, commerce, and national development,” she further stated.

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NCDMB Targets Midstream Compliance to Boost Nigeria’s Industrial Growth

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NCDMB

By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its compliance drive in the oil and gas midstream segment, convening a high-level sensitisation workshop aimed at deepening adherence to the Nigerian Oil and Gas Industry Content Development Act.

The workshop, themed Compliance with the Provisions of the NOGICD Act 2010: A Pathway to Industrialization, held in Lagos, drew key operators across gas processing, transportation, storage and infrastructure development.

Speaking on behalf of the Executive Secretary of NCDMB, Mr Felix Ogbe, the Director of Monitoring and Evaluation Division, Mr Omomehin Ajimijaye, described the midstream sector as “a critical bridge between upstream production and downstream utilisation.”

“The midstream segment plays a pivotal role in gas processing, transportation, storage and infrastructure development, all of which are essential pillars for achieving Nigeria’s industrialisation agenda,” Mr Ajimijaye said.

Mr Ajimijaye stressed that adherence to the NOGICD Act goes beyond regulatory obligation.

“Compliance with the NOGICD Act is not merely a statutory requirement,” he stated. “It is a strategic imperative for sustainable national development.”

He explained that the programme was structured to clarify registration processes, Nigerian Content Equipment Certification, expatriate quota requirements, statutory reporting templates and submission timelines.

“Our objective is to deepen stakeholders’ understanding of compliance requirements, address recurring gaps identified during Monitoring and Evaluation reviews, and foster constructive dialogue on operational realities within the midstream space,” he added.

According to Mr Ajimijaye, the board has received feedback from operators highlighting challenges in meeting Nigerian Content obligations, including reporting complexities and varying interpretations of certain provisions of the Act.

“As a responsive regulator and development-focused institution, we remain committed not only to enforcing compliance but also to providing guidance, clarity and the necessary support to enable stakeholders succeed,” he assured participants.

With Nigeria positioning gas as a transition fuel and economic growth driver, regulatory clarity in the midstream space is essential to unlocking investment and local capacity development.

The participants received technical presentations from key NCDMB divisions, including: Monitoring and Evaluation Division, Project Certification and Authorisation Division, Capacity Building Division and Zonal Coordination Division.

The interactive sessions provided practical guidance on engagement protocols with the Board and strengthened collaboration between regulators and operators.

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AGF Fagbemi Takes Over Malami Prosecution from DSS

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remand abubakar malami

By Adedapo Adesanya

The Minister of Justice and Attorney General of the Federation, Mr Lateef Fagbemi, has taken over the prosecution of his immediate predecessor, Mr Abubakar Malami.

Mr Malami is facing terrorism and illegal firearms possession charges brought against him by the Department of State Service (DSS).

Mr Fagbemi, a Senior Advocate of Nigeria (SAN), took over the trial from the secret police on Wednesday at the Federal High Court in Abuja.

The Director of the Public Prosecution of the Federation, Mr Rotimi Oyedepo, announced the Attorney General’s appearance in the matter.

Mr Oyedepo told Justice Joyce Abdulmalik that the trial cannot proceed because Mr Fagbemi has just taken over the prosecution.

He informed the court that the prosecution needed more time to familiarise itself with the facts of the case.

Counsel to the defendants, Mr Adedayo Adedeji, who did not oppose the application, however, urged the court to strike out the matter if the prosecution fails to open its case at the next adjourned date, citing lack of diligent prosecution.

Justice Abdulmalik subsequently adjourned the matter to March 10 for trial and for the prosecution to formally open its case.

The court had, on February 27, admitted Malami and his son, Mr Abdulaziz, to N200 million bail, with two sureties, each one of whom must own landed property either in Maitama or Asokoro.

Justice Abdulmalik had said that the title of the property must be deposited with the Deputy Chief Registrar of the Court along with valid international passports.

The sureties were also ordered to depose to an affidavit of means and submit their two recent passport photographs to the court.

Mr Malami and his son were also ordered to submit their international passports and recent passport photographs to the court.

The DSS had arraigned the ex-AGF and his son, Mr Abdulaziz, on a five-count charge bordering on terrorism and illegal firearms possession.

In the charge, marked FHC/ABJ/CR/63/2026, filed before the Federal High Court in Abuja, Malami is also accused of refusing to prosecute suspected terrorism financiers, whose case files were handed to him while he served as the AGF and Minister of Justice.

Mr Malami and Mr Abdulaziz are equally accused of warehousing firearms in their residence at Gesse Phase II Area, Birain Kebbi LGA, Kebbi State, without lawful authority.

The DSS accused Mr Malami in count one of the charge, with knowingly abetting terrorism financing, while the ex-AGF and his son are charged in counts two to five, with unlawful, possession of a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5720 live rounds of cartridges and 27 expended Redstar AAA 5’20 cartridges, contrary to and punishable under relevant Sections of Terrorism (Prevention and Prohibition) Act, 2022 and Firearms Act, 2004.

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