General
FG Shows Private Sector Opportunities in 2020 Budget
By Adedapo Adesanya
The federal government has urged stakeholders in the private sector in Nigeria to tap from the several opportunities tucked inside the 2020 Appropriation Bill, which was designed to reshape and sustain the economy.
This was the position of the Director-General, Budget Office of the Federation, Mr Ben Akabueze, at the 2019 Fellows’ Night and Investiture of the Institute of Directors (IoD) Nigeria, where he delivered a lecture on A Critical Analysis of the FGN 2020 Budget Proposals.
He emphasized that government was committed to strengthening the partnership with the private sector by bringing them onboard to invest in infrastructure through the private public partnerships (PPPs).
Mr Akabueze noted that government was committed to finding the resources for infrastructural investment to create favourable environment for the private sector to increase their investments, and significantly contribute to economic growth and job creation.
On the implications of global and domestic developments, he mentioned that global economic recovery was set to improve from 3.0 percent as projected by the International Monetary Fund (IMF) for 2019 to 3.4 percent in 2020, while sub-Saharan Africa is projected to continue to grow, rising from 3.2 percent in 2019 to 3.6 percent in 2020.
He said all areas including the financial sector had a lot to benefit from investing in government backed securities as this was a good opportunity for them to invest in Nigeria because key reforms such as the Strategic Revenue Growth Initiative (SRGI), would be implemented to improve revenue collection and expenditure management in the country.
Comparing the country’s total taxes to the nation’s gross domestic product (GDP), value added tax (VAT) to GDP, and excise to GDP with other African nations, Mr Akabueze explained that it indicates capacity to do a lot more to improve the country’s fiscal space.
“Key assumptions driving the budget are realistic, derived from extensive and robust modelling with comparative analysis.
“Achieving FGN 2020 budget objectives require bold, decisive, and urgent action. Government has always maintained a comparative posture to oil benchmark price. Government is determined to act as may be required,” he added.
General
BPP Mandates Digital Submission for MDAs From March 1
By Adedapo Adesanya
The Bureau of Public Procurement (BPP) has directed all Ministries, Departments and Agencies (MDAs) to comply with its digital submission process effective March 1.
The directive was contained in a circular signed by the Director-General of the Bureau, Mr Adebowale Adedokun, noting that the move was part of the bureau’s commitment to digital transformation and paperless governance.
It explained that the transition followed an earlier circular of Aug. 4, 2025, which introduced electronic submission procedures.
According to the bureau, it has successfully moved from physical filings to a dedicated e-mail service for document submissions and is now advancing to a more robust and integrated system.
The circular announced the inauguration of the BPP Digital Submission Portal, a web-based platform designed to enable MDAs submit procurement-related documents directly to the Bureau.
It stated that the automated platform would streamline the submission process, enhance transparency and ensure accelerated tracking of procurement-related documents and petitions.
“With effect from March 1, all MDAs will be required to use the portal to submit requests for ‘No Objection’ Certificates, approvals for ‘No Objection’ for special procurements, clarifications and status updates on submissions,” the bureau said.
It added that the portal would be hosted on the Bureau’s official website and would become fully operational from the effective date.
The bureau warned that physical submissions or manual hand-deliveries would no longer be prioritised and would eventually be rejected following the full transition to the digital platform.
It urged accounting officers to brief their procurement departments and ICT units on the development to ensure seamless processing of procurement activities from March 1.
It further advised MDAs to contact the Bureau via its official email for information on the onboarding process and integration into the portal.
The bureau emphasised that full compliance by all MDAs was required to ensure a smooth transition and avoid delays in the implementation of the 2026 fiscal year procurement processes.
General
Senate Seeks Removal of CAC Boss Hussaini Magaji
By Adedapo Adesanya
The Senate has asked President Bola Tinubu to remove the Registrar General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji, from office.
The Senate Committee on Finance, while passing a resolution in Abuja on Thursday, accused Mr Magaji, a Senior Advocate of Nigeria (SAN), of failing to honour the Senate’s invitations to account for the finances of his agency.
“He refused on so many occasions to honour our invitation to appear before this committee.
“We have issues with the reconciliation of the revenue of CAC.
“Each time we invite him, he gives us excuses,” the Chairman of the committee, Mr Sani Musa, said as the committee passed the resolution.
CAC was part of a group of agencies that the House of Representatives Public Accounts Committee (PAC) recommended zero allocation for the year 2026, for allegedly failing to account for public funds appropriated to them.
The committee, at an investigative hearing held two weeks ago, accused CAC and some other ministries, departments and agencies (MDAs) of shunning invitations to respond to audit queries contained in the Auditor-General for the Federation’s annual reports for 2020, 2021 and 2022.
The PAC chairman, Mr Bamidele Salam, stated that the National Assembly should not continue to appropriate public funds to institutions that disregard accountability mechanisms, saying this will create fiscal discipline and strengthen transparency across federal institutions and conform with extant financial regulations and the oversight powers of the parliament.
“Public funds are held in trust for the Nigerian people. Any agency that fails to account for previous allocations, refuses to submit audited accounts, or ignores legislative summons cannot, in good conscience, expect fresh budgetary provisions. Accountability is not optional; it is a constitutional obligation,” he said.
General
IBEDC Promises Stability, Growth After Board Restructuring
By Adedapo Adesanya
The Ibadan Electricity Distribution Company (IBEDC) has announced the reconstitution of its board following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON), promising growth and stability.
Earlier this week, the disco, which serves Oyo, Ogun, Osun and Kwara States, as well as parts of Ekiti, Kogi and Niger States, unveiled its new board led by the new chairman, Mr Tunde J. Afolabi.
The newly constituted board include Mr Ayodeji Ariyo Gbeleyi, with Mr Michael I. Magaji as Alternate Director; Mr Taiwo Afolabi; Professor Oladapo Afolabi; Mr Tunde Fayinka; Mr Oluwaseyi Akinwale and Mr Adeolu Ijose.
According to the chairman, the emergence of a new core investor and the reconstituted board marks a significant milestone in the company’s corporate journey and signals a renewed strategic direction focused on stability, continuity and sustainable growth.
“This transition represents renewal, not rupture. It represents investment, not instability. It represents partnership, not division. Our goal is to strengthen governance, enhance operational performance, deepen capital investment and deliver improved service to customers across our franchise areas,” he added.
Mr Afolabi, while addressing customers directly, assured them that there would be no avoidable service disruptions as a result of the transition, stating that all IBEDC offices will remain open, while field operations will continue uninterrupted.
“The new core investor has committed to sustained capital investments in feeder rehabilitation and expansion, transformer upgrades and replacements, injection substation improvements, and the replacement of obsolete network components,” he stated.
He added that IBEDC plans to accelerate the integration of advanced digital and operational technologies, disclosing that these include enhanced outage management systems, strengthened billing platforms, expanded smart metering deployment, and digitised customer engagement channels aimed at improving transparency and service responsiveness.
On workforce stability, the chairman emphasised that there will be no job losses as a direct result of the transition, noting that the board, under his leadership, is committed to employee welfare, improved work tools, modern safety equipment, and technology upgrades to support field efficiency, while maintaining high performance standards.
Mr Afolabi also pledged proactive and structured engagement with regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring its commitment to full regulatory compliance, strengthened governance frameworks, transparency and accountability.
Furthermore, he reaffirmed the commitment of the distribution company to structured and timely payment cycles for vendors and suppliers, recognising their critical role in maintaining network stability.
With the new board in place, he insisted that IBEDC is poised to deepen operational excellence, strengthen financial sustainability, and position itself firmly on the path to becoming Nigeria’s leading power distribution company—powering progress across its franchise with unity, confidence and innovation.
Established in November 2013 following Nigeria’s power sector privatisation, IBEDC operates the largest distribution network serving the highest customer population within Nigeria’s electricity distribution landscape.
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