General
Markets in Oyo Get 15 Motorised Boreholes
By Dipo Olowookere
Fifteen motorized boreholes have been constructed by the Oyo State government in some major markets in the state.
The boreholes were constructed by the government through the Sustainable Development Goals Office.
According to the Commissioner for Finance and Budget, Mr Abimbola Adekanmbi the projects came about through the Conditional Grants Scheme.
Speaking at the commissioning of one of the boreholes at Bodija Market, Ibadan, the Commissioner explained that the project was in line with achieving Goals 3 and 6 of the SDG which is Good Health and Clean Water Sanitation.
Mr Adekanmbi, who is the also the Chairman of the Conditional Grants Scheme, said that the boreholes tagged Ajumose Water Points have been provided with a standby generator, stating that Bola Ige International Gbagi, Ibadan, Bembo Market, Apata, Ibadan, Eleeka Market, Oyo, Bodija Market, Ibadan Saasa Market, Ibadan and Towobowo Market, Igboora, the largest market in Ibarapa zone of the state, are some of the beneficiaries of the project.
He pointed out that two of the boreholes are located at Sabo Market, Ibadan, while Omi Adio Market, Apata, Ibadan, Obanisunwa Market, Ayete, Aaraada Market, Ogbomoso, Odo-Oba Market, Odo-Oba, Ogo-Oluwa, Oja Agbe Market, Iseyin, Olorunda Market, Iganna and Owode Market, Igboho have one each.
Also speaking at the commissioning, Commissioner for Information, Culture and Tourism, Mr Toye Arulogun, said that the market men and women are integral parts of the government, promising that the government will provide more infrastructures for the people of the state.
He said the informal sector was key to the increased IGR of the state, stating that more is expected from the market men and women to ensure that the government provides more facilities for the people.
In his address, the Special Adviser to Governor Abiola Ajimobi on SDG, Engineer Tope Fajana said that the Ajumose Water Points will go round all the markets in the state, stressing that the project is meant to ensure provision of clean and potable water to the citizenry of the state.
Engineer Fajana charged the committees entrusted with the management of the boreholes not to shy away from their responsibilities by taking care of the project which is aimed at ensuring smooth business activities in the communities.
He enjoined the communities and traders in the markets to make good use of the facilities, noting that SDG will not relent in its efforts to bring succour to the people of the state.
While speaking, the Babaloja of Bodija Market, Abattoir section, Alhaji Ganiyu Olobo expressed appreciation to the state government for the project which demonstrated government’s commitment to the traders and consequently assured that the borehole will be adequately used and managed by the people in the market.
Mr Olobo said that water is germane to their business and what the government has done will go a long way to ensure that people have access to clean potable water.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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