By Adedapo Adesanya

Vice President Kashim Shettima has formally opened the Nigeria House in Davos as the 2026 World Economic Forum kicks off in Switzerland.

The unveiling, which took place on the sidelines of the World Economic Forum, marks the first time Nigeria is establishing a House in Davos.

The Nigeria House is designed to serve as a strategic hub for engaging global investors and promoting key sectors of the Nigerian economy.

The facility will provide a platform for investment discussions, partnerships and policy engagements aimed at attracting foreign direct investment into the country.

Members of the Nigerian delegation, alongside foreign partners and stakeholders, were present at the official opening of the Nigeria House.

Speaking on the initiative, the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, said Nigeria is showcasing four major investment areas at the forum—solid minerals, sustainable agriculture, the creative industry and the digital economy.

The country said it will use this year’s Davos forum to press its case as a stable, reforming economy at a time when global investors are pulling back from emerging markets and geopolitical tensions are reshaping capital flows.

The forum’s theme, The Spirit of Dialogue, aligns with Nigeria’s strategy of pairing macroeconomic reforms with sustained engagement with investors, development partners, and global policymakers.

“At a time of heightened uncertainty, the world is looking to Nigeria as a pillar of economic stability in Africa — not only because of its size, but because of the reform choices it has made,” according to the Ministry of Finance.

“This positioning places Nigeria firmly within the global dialogue on how emerging markets can navigate volatility while sustaining reform momentum.”

According to the ministry, Nigeria’s message in Davos is straightforward: the country intends to stay the course on market-oriented reforms, maintain macroeconomic discipline, and protect institutional credibility, including the operational independence of the Central Bank of Nigeria, as a foundation for price stability and investor confidence.

Meetings in Davos will focus on deepening dialogue with global investors, development finance institutions, credit ratings agencies, and multinational companies.

The aim, according to the ministry, is to address lingering concerns around policy consistency, foreign-exchange stability, inflation, and fiscal sustainability, while reinforcing Nigeria’s ambition to act as a reform anchor in Africa’s largest economy.

By Aduragbemi Omiyale

An indefinite strike action has been embarked upon by employees of the Federal Capital Territory Administration (FCTA).

The aggrieved workers grounded activities of the administration on Monday as they ask for improved working conditions.

The staff members of the FCTA and the Federal Capital Development Authority (FCDA) were seen outside their secretaries this morning discussing how they have made efforts to avert this action, supported by the Joint Union Action Committee.

Workers and visitors could not access the main gates of the secretariats of the FCTA and FCDA on Monday morning because of the industrial action.

Meanwhile, the Minister of the FCT, Mr Nyesom Wike, described the action of JUAC as unnecessary, ill-motivated and obviously aimed at achieving purposes other than the welfare of the workers.

In a statement by his spokesman, Mr Lere Olayinka, on Monday, the immediate past Governor of Rivers State said that 10 out of the 14 demands of the striking workers have been met, adding that other demands are being looked into with a view to addressing them.

“In one of the meetings held with Joint Union Action Committee (JUAC) leaders on Friday, January 16, the demands as well as the interventions of the FCT Minister were laid bare, and at no point did the Minister express unwillingness to address any of the demands.

“Appeal was made to JUAC Officials that other pending issues were not severe enough to warrant the declaration of strike action, and that dialogue should be adopted in resolving all other issues affecting staff welfare in the FCTA.

“For instance, one of the demands made was non-payment of the outstanding five months Wage Award, payment of which has commenced. Also, the outstanding 13 months Hazard Allowance and 22 months Rural Allowance for Health Workers have been fully paid by the administration,” parts of the statement stated.

“The workers also listed non-payment of 2023 promotion arrears and outstanding 2024 promotion arrears as part of their demands. Meanwhile, the outstanding arrears in the sum of N286,166,772.46, covering 724 Officers across 24 SDAs was approved by the Minister in December 2025 and being processed for payment to the beneficiaries.

“On elongation of tenure of retired Directors and Permanent Secretaries in violation of the Public Service Rules, this has been resolved with the Minister assuring the workers of strict compliance with the Public Service Rules.

“JUAC also raised the issue of lack of training and retraining of staff, and on this, all SDAs have been directed to forward general and specialised training needs to the permanent Secretary, Common Services, for onward submission to the office of the Head of Service for further necessary action,” it added.

“Another issue is non-remittance of National Housing Funds (NHF) deductions and Pension Contributions since May, 2025, which is the function of workers themselves and has nothing to do with the Minister or the FCTA management. The Head of Service has therefore constituted a Committee comprising the workers to holistically address all issues relating to all deductions and remittances.

“On a claim of defective promotion examination process with a pass rate of about 22.5 per cent, it was pointed out that the figures and percentage presented by JUAC had no official backing, and they were therefore advised to await the formal release of the results of the promotion examinations as directed by the Minister.

“Also, the issue of overstay of Overseeing Directors has been reasonably addressed by the conduct of the 2023 promotion for eligible Deputy Directors, while the release of the just concluded 2024 staff promotion by the FCT Civil Service Commission will conclusively address the matter.

“In all, it can be seen that the FCT Minister has made concerted efforts to address the demands of the workers and he will continue to accord them top priority.

“From all indications, therefore, and considering all the efforts already made by the Minister in acceding to almost all the demands as well as explanations by the FCTA management staff in the meetings held, the strike action embarked on by JUAC is unnecessary, ill-motivated and obviously aimed at achieving purposes other than the welfare of the workers.

“The FCTA also call on security agencies to ensure that workers who have opted not to be part of the strike have access to their offices so as to carry out their lawful duties unhindered,” the statement said.

By Adedapo Adesanya

Abuja Electricity Distribution Plc has announced its transition into a Holding Company structure, effectively breaking into two subsidiaries.

This is part of moves aimed at strengthening its capacity to operate effectively within Nigeria’s evolving electricity market and the newly decentralised regulatory environment.

In a statement, the Holdco said restructuring followed the enactment of the Electricity Act of 2023, which empowers state governments to establish independent electricity markets and regulatory commissions.

AEDC said it had realigned its corporate structure to enhance operational agility, improve governance, and support efficient service delivery across its franchise areas.

As part of the transformation, AEDC incorporated two new subsidiary companies — Niger Electricity Distribution Company and Kogi Electricity Distribution Company.

Prior to the new development, AEDC distributes electricity to the Federal Capital Territory (FCT) and parts of Niger, Kogi, and Nasarawa states.

As a result, the new subsidiaries will operate under the Niger State Electricity Regulatory Commission and the Kogi State Electricity Regulatory Commission, respectively, while remaining integral members of the wider AEDC Group.

It added that plans were underway to commence operations in Nasarawa State, with the transition process expected to begin soon.

The company also announced key executive appointments, naming Mr Sam Odekina as Chief Business Officer and Acting Managing Director of Niger Electricity Distribution Company, and Mr Desmond Eboh as Chief Business Officer and Acting Managing Director of Kogi Electricity Distribution Company.

The Managing Director/Chief Executive Officer of AEDC, Mr Chijioke Okwuokenye, said the HoldCo structure positions the company to respond to state-specific regulatory requirements while preserving the Group’s unified identity, shared values, and commitment to operational excellence and customer service.

According to him, all subsidiaries will operate as one integrated AEDC family, with uniform Conditions of Service for employees to ensure workforce stability and fairness.

“The HoldCo structure aligns perfectly with our goal to enhance operational efficiency and adapt to Nigeria’s evolving energy landscape while exploring new opportunities, driving growth, and contributing to Nigeria’s energy sector development,” Mr Okwuokenye said.

“We are committed to maintaining our high standards of service, innovation, and customer focus, even as we evolve into a new structure,” he added.

The company also noted that the recently executed Conditions of Service apply uniformly to all employees across the parent company and its subsidiaries, underscoring its commitment to workforce stability, fairness, and alignment during the transition.

AEDC also reaffirmed its commitment to supporting the development of sustainable, state-regulated electricity markets and setting benchmarks for efficiency, reliability, and customer experience across its operations.