General
FG to Revive Garment, Leather Industries With N5.09bn
By Adedapo Adesanya
As part of moves to deepen Nigeria’s revenue diversification process, the federal government is targeting sourcing for N5.09 billion to revive the garment and leather industries.
The Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Mr Chidi Izuwah, made this known in Abuja.
He stated that the amount, N5.089 billion, would be sourced by government from a partnership between the private and public sectors.
According to Mr Izuwah, it would be made up of 80 percent debt and 20 percent equity with zero financial contribution by the federal government.
He spoke at the presentation of the Full Business Case (FBC) compliance certificate to the Nigeria Correctional Service (NCS) in respect of the proposed NCS shoe and garment factories in Aba, Abia State and the Janguza Tannery Factory, Kano State under the Public-Private Partnership (PPP) arrangements.
He said the PPP would also lead to the creation of 1,290 direct jobs, multiples of indirect jobs locally and savings on foreign exchange demand to procure uniforms abroad among other significant benefits to the country.
Mr Izuwah said the next stage towards the actualisation of the project was for the NCS, through the Minister of Interior, Mr Rauf Aregbesola, to secure the Federal Executive Council (FEC) approval to enable NCS to sign the PPP contract and achieve immediate take-off of the project.
While attributing the achievements recorded during the development of the PPP project to the economic reform agenda of President Muhammadu Buhari, he expressed confidence that a formal ground-breaking ceremony to signal the take-off of the projects in affected states will happen soon.
He explained that the proposed PPP arrangement between NCS and Erojim Investments Limited (a local company) and its technical partner, Poly Technologies Inc., Beijing, China, is aimed at establishing a world-class factory using the most modern technology and quality inputs to produce high quality shoes, garments, and leather products to meet the demand of NCS and other Ministries, Departments and Agencies (MDAs), whose personnel wear uniforms and make use of other accessories.
“I am delighted to state that the successful start-up of this PPP project will no doubt lead to the revitalisation of Nigeria’s shoe, garment and leather industries in compliance with the federal government’s local content policy initiative encouraging MDAs to look inwards in meeting their basic needs.
“This project was competitively procured using the very proven ICRC Swiss Challenge PPP bidding method. This process involves subjecting the private sector initiated proposal to competition to create value for money while ensuring that the private sector takes significant financial risk and creates the efficiency needed to ensure that the project is delivered to time and specifications.
“The ICRC played a key role as part of her mandate to ensure that the nation attracts the required private investment to build our infrastructure stock to further bridge the infrastructure gaps across the country in line with President Muhammadu Buhari’s commitment to the private sector-led economic development and inclusive growth,” he said.
By Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has confirmed the collapse of five transmission towers along the Ikot Abasi–Eket 132kV Double Circuit Transmission Line.
This was attributed to severe acts of vandalism, as TCN disclosed that the structure collapsed after vandals removed critical structural bracing members.
The affected towers were N9, J4, N10, N11 and N12, the organisation said in a statement on Friday.
It explained that the extensive damage was discovered during a routine joint line patrol conducted on August 9, 2026, by TCN linesmen.
Further inspection revealed that structural members from seven additional towers along the same transmission corridor had also been removed and stolen. The towers, J3, N8, N13, N14, N15, N18 and N19, are now structurally compromised and pose a risk of further collapse.
TCN condemned this act of sabotage and reiterated its commitment to working hard to maintain a robust and reliable national grid.
The statement said that to mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply.
TCN said it is mobilising an urgent intervention to complete the reconstruction of the affected sections of the line, with security agencies also notified to aid investigations and prevent further acts of vandalism along the line route.
By Adedapo Adesanya
The Speaker of the House of Representatives, Mr Tajudeen Abbas, has urged all relevant government agencies to promptly initiate actions for the full implementation of the Nigerian Ports Economic Regulatory Agency Act, 2026, following its signing into law by President Bola Tinubu.
The bill, sponsored by Speaker Abbas, was aimed at repealing the Nigerian Shippers’ Council Act, Cap. N133, Laws of the Federation of Nigeria, 2004, and establish the Nigerian Ports Economic Regulatory Agency to ensure effective economic regulation of Nigerian ports while safeguarding the interests of shippers, service providers, and users of regulated port services. With the President’s assent, it has now been enacted as an Act of Parliament.
The legislation represents one of the landmark achievements of the 10th National Assembly. It reflects the Speaker’s commitment to legislative excellence, institutional reform, and sustainable economic growth, according to a press statement by the Special Adviser on Media and Publicity to the Speaker, Mr Musa Krishi.
The bill underwent a rigorous and inclusive legislative process, including extensive stakeholder consultations and a public hearing. It was passed by both Chambers of the National Assembly and subsequently assented to by the President.
The Act provides a robust legal and institutional framework to ensure effective economic regulation of Nigerian ports by fostering transparency, competitiveness, and efficiency in port operations; protecting the rights and interests of shippers, service providers, and other port users; and aligning Nigeria’s port regulatory system with global best practices, thereby enhancing the ease and cost-effectiveness of doing business.
Despite receiving presidential assent, the Act has yet to be fully operationalised.
He warned that any further delay would undermine the legislative intent of the reform, prolong the exposure of port users to arbitrary charges and operational inefficiencies, and deny the nation the anticipated benefits of increased revenue, improved trade facilitation, and stronger investor confidence in the marine and blue economy sector.
The Speaker urged the Federal Ministry of Marine and Blue Economy, in collaboration with all relevant Ministries, Departments and Agencies (MDAs) of the federal government, to take the necessary administrative, institutional, and financial measures for the prompt implementation of the Act.
He said this should include the formal transition to, as well as operational empowerment of, the Nigerian Ports Economic Regulatory Agency to discharge its statutory mandate effectively.
The full implementation of the Act is critical to unlocking the economic potential of Nigeria’s ports, reducing the cost of doing business, strengthening trade competitiveness, and positioning Nigeria as the leading maritime and logistics hub in West and Central Africa.
The statement noted that the Speaker reaffirmed the 10th House’s commitment to exercising the necessary legislative oversight to ensure this landmark legislation, along with others assented to by the President, is fully implemented and achieves its intended goals for the benefit of the Nigerian people.
By Adedapo Adesanya
The Federal Ministry of Youth Development (FMYD), through the Nigerian Youth Academy (NiYA), has partnered with Cascador, a Nigeria-focused platform for growth-stage founders, to provide funding and support for the next generation of Nigerian youth entrepreneurs.
The announcement coincides with International Youth Day 2026, whose global theme this year — Different Contexts, Common Aspirations — calls on institutions to close the gap between young people’s circumstances and their opportunities. The pilot is an early step toward NiYA’s broader ambition to train and empower 7 million Nigerian youth within two years.
The NiYA and Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth founders, including entrepreneurs without formal business registration or established financial records.
Over four weeks, participants will undergo intensive training focused on business fundamentals, investment readiness and pitch preparation. At the end of the programme, the eight top-performing founders will receive non-dilutive funding of up to N5 million each from Cascador, alongside an Enterprise Resource Planning (ERP) solution to help them structure, manage and scale their businesses.
The funding and support will be presented at a Pitch Day organised by NiYA and the Federal Ministry of Youth Development.
The Minister for Youth Development, Mr s Ayodele Olawande, said the partnership would enable NiYA to move beyond training by helping young people transform ideas into investable businesses and achieve sustainable economic participation through business preparation and access to capital.
“The pilot is deliberately designed to test a model that can go beyond one cohort. If young founders can be identified early, prepared properly, connected to credible capital and supported to build stronger business systems, then access to opportunity becomes less dependent on background or existing networks. That is the larger objective: to build a youth entrepreneurship ecosystem in which readiness, ideas and execution can increasingly determine who gets the opportunity to grow.”
The pilot will run in-person in Abuja with virtual touchpoints and 1:1 mentorship. All 20 graduates retain NiYA alumni status, with priority consideration for future opportunities.
NiYA and FMYD have already shown what real commitment to Nigeria’s youth looks like — the platforms, the reach, the ambition to train millions. What we’re building together now is the missing piece, a practical bridge from the ideation stage to real capital-readiness. When a Ministry so dedicated to its young people asked Cascador to help build that bridge, it was an easy decision,” said Trish Thomas, CEO of Cascador.
Ms Oyin Solebo, COO of Cascador and former Managing Director of the ARM Labs Lagos Techstars Accelerator, highlighted the partnership’s impact, saying, “This is what innovative capital deployment looks like: a government building real investment readiness at scale, and a partner meeting that foundational work with non-dilutive funding at exactly the moment it’s needed. Partnerships like this open doors that neither of us could open alone.”
