General
Lagos to Transform Otto, Otumara Slums into Micro City
By Adedapo Adesanya
The Lagos State Government has announced that it will build a new Micro City to complement the federal government’s proposed revamping of the National Arts Theatre.
The Commissioner for Physical Planning and Urban Development, Mr Idris Salako, said this at the annual Ministerial Press Briefing to commemorate two years in office of Governor Babajide Sanwo-Olu on Thursday.
Mr Salako said the government would regenerate Otto and Otumara slum communities on the Mainland axis in line with the THEMES Agenda that would culminate in the creation of the new Micro City.
THEMES is an acronym for Mr Sanwo-Olu led administration’s six strategic development agenda namely, Traffic Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism as well as Security and Governance.
The Commissioner said the creation of the Micro City in those locations would complement the proposed revamping of the National Arts Theatre by the federal government, through the Central Bank of Nigeria (CBN)-led Committee of Bankers.
He listed the importance of the National Theatre youths development, the creative industry and the economy of the state and the interest of the state government in the project.
The commissioner also revealed plans by the state government to embark on a mass social housing drive to upgrade the two slum communities, to fit into the modernization of the National Theatre project.
He assured Otto and Otumara residents that they would not be displaced, but would be captured in the social housing scheme.
“Mr Governor Felt there is no way you have a national monument of that magnitude in Iganmu and directly on the other side of the bridge, you have slum settlements, the Otto and Otumara communities.
“So, the Lagos State Government will also work to regenerate these communities to be in tandem with the world-class edifice to be on the other side of the bridge.
“The project is on and what we are presently doing in our stakeholder engagement is that we are talking to the people; we are looking at the site variables and conditions.
“We are profiling the people, who are inhabitants of that settlement, with a view to come up with a plan that is acceptable to all and that will improve the living conditions and lifestyle of those people.
“And we are looking at housing facilities that will not only be commensurate with the National Theater but with international standards and I can tell you that there will be no displacements,” he said.
Mr Salako said that the Micro City would be delivered with the upgrade of existing socio-economic amenities like hospitals/clinics, schools, market, water etc., which would be upgraded on-site.
He added that there would be preservation and conservation of ecologically sensitive land spaces, such as buffer zones, earth drain, floodplains and waterfronts, as well as the creation of new viable economic activity centres, including residential-led mixed-use.
By Modupe Gbadeyanka
The Media and External Relations Lead of United Bank for Africa (UBA) Plc, Mr Abiodun Coker, has been crowned the Future Leader in Media Management.
He clinched this award at The Industry Summit/Awards held on Friday, May 2, 2025, in Lagos, with several persons from across all sectors in attendance.
Mr Coker’s recognition further cements his growing reputation as one of Nigeria’s most dynamic and future-ready communications leaders, with his eyes firmly set on redefining the media management landscape.
The award jury, chaired by Mr Tolulope Ogunjobi, a renowned broadcast business correspondent and Business Editor at TVC News, said Mr Coker was bestowed with the honour because of his exceptional achievements in the public relations field during the year 2024.
The team said one of them was his masterful handling of UBA’s 2024 rights issue, which successfully closed on December 24, 2024, and the impactful execution of the bank’s 75th Anniversary Campaign, both of which were described as commendable and exceptional.
According to the jury, his management of UBA’s media ecosystem during the year under review was remarkable, with several media professionals praising his public relations craftsmanship and ability to skilfully manage the image of one of Africa’s most formidable financial brands.
“Abiodun Coker’s achievements in 2024 are a beacon for greater accomplishments ahead. He is undoubtedly one of the strategic communication experts to watch in 2025,” the jury noted.
A seasoned professional, Mr Coker’s journey from an acclaimed financial journalist at BusinessDay Newspapers to a powerhouse in corporate communications has been nothing short of inspiring.
With over eight years of robust journalism experience, coupled with leadership roles at top-tier public relations firms such as BD Consult Ltd and Quadrant, he has consistently demonstrated his ability to transform and manage leading brands successfully.
Organized by The Industry Newspaper, the leading brand marketing publication in West Africa, the prestigious awards recognize outstanding professionals shaping the future of brand marketing and communications across the region.
By Adedapo Adesanya
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the federal government’s commitment to fostering a more enabling investment climate, anchored on macroeconomic stability, structural reform, and a clear pathway to inclusive prosperity.
He gave this assurance at a high-level private dinner, organized by Kuramo Capital Management Lagos as part of Africa Venture Capital Week.
The Minister lauded Kuramo Capital and its partners for their steadfast belief in Africa’s promise and highlighted the alignment between private capital and Nigeria’s renewed hope reform agenda.
According to a statement, participants recognized the vital role of blended finance and innovation in driving sustainable development.
The event brought together a distinguished group of global investors, development partners, and business leaders for a candid exchange on unlocking long-term capital for Africa’s growth and transformation.
It also marks Kuramo Capital’s first formal convening in Nigeria in several years, underscoring a renewed sense of commitment to deepening its strategic footprint across the continent.
Mr Edun said with this renewed commitment, the federal government is poised to unlock new opportunities for economic growth, investment, and inclusive prosperity.
He also called for more investment into the country, assuring participants that the right mechanisms are being put in place towards driving Nigeria’s development and improving the lives of its citizens.
By Adedapo Adesanya
The federal government is fast-tracking the implementation phase of its economic and financial inclusion strategy aimed at improving access to economic opportunities for Nigerians.
This was disclosed by the Deputy Chief of Staff to the President, Mr Ibrahim Hadejia, at the inaugural meeting of the Technical Committee of the Presidential Committee on Economic and Financial Inclusion (PreCEFI).
He said that “Financial inclusion is not just about having a bank account—it means access to quality services, credit, and the visibility that digital platforms offer.”
The meeting was held at the Presidential Villa, Abuja, on Wednesday.
The federal government established an inter-agency task force to address challenges delaying President Bola Tinubu’s approved conditional cash transfers to 15 million vulnerable households.
The task force includes the National Identity Management Commission (NIMC), National Social Safety-Nets Coordinating Office, National Cash Transfer Office (NCTO), Central Bank of Nigeria (CBN) and Nigeria Inter-Bank Settlement System (NIBSS).
The mandate of the taskforce goal is to unlock bottlenecks and fast-track the distribution of critical financial support to Nigeria’s most vulnerable.
The meeting also endorsed steps to work with state governments in localising data from the Enhancing Financial Innovation and Access in Nigeria (EFInA) Access to Financial Services survey – a biennial study conducted by the EFInA.
Mr Hadejia explained that the meeting brought together high-level stakeholders from government agencies, financial institutions, and academia to align on the President’s vision and execution roadmap.
“We are off to a very good start. What has led to the success of what we’ve done so far is alignment and inclusive stakeholder engagement,” he said.
On hsi part, the committee’s Secretary, Mr Nurudeen Zauro, said the meeting also approved PreCEFI’s strategic roadmap and governance structure.
Mr Zauro, who is also the Technical Advisor to the President on Financial Inclusion, said ” an inter-agency committee has been established to address delays in the disbursement of conditional cash transfers to 15 million households as mandated by President Tinubu.
“We will be presenting the report to the National Economic Council and the Nigerian Governors Forum to ensure data is domesticated and acted upon at the subnational level.”
Also, Director-General of NIMC, Mrs Abisoye Coker-Odusote, explained that digital identity plays a foundational role in achieving inclusion goals.
“The beauty of the NIN is that it bridges the financial divide. It provides access to health, education, and agricultural services and strengthens national data infrastructure,” she said.
The Director of Consumer Protection and Financial Inclusion at the CBN, Mrs Aisha Isa-Olatinwo, urged the committee to focus on implementable outcomes that serve those at the base of the pyramid.
According to her, financial inclusion is one of the eight reform pillars of the President’s agenda.
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