General
MOSOP Urges Tinubu to Investigate Looted $300m Ogoniland Compensation Fund
By Adedapo Adesanya
The Movement for the Survival of the Ogoni People (MOSOP) has called on the Nigerian government to investigate the alleged looting a $300 million compensation and infrastructure fund in Ogoniland.
The group described the act as a betrayal of the people and a gross denial of justice.
The fund, secured through an out-of-court settlement with the Nigerian National Petroleum Company (NNPC) Limited, was meant to address decades-long underdevelopment and compensate the Ogoni people as part of efforts to resolve the historic oil conflict in the region.
According to MOSOP President, Mr Fegalo Nsuke, the alleged looting of the fund amounts to a deliberate effort to stall the region’s development and prolong the suffering of its people.
“It is important for the Ogoni people to know what happened to their $300 million infrastructural development fund. This is no joke. Such money cannot be allocated to solve critical national problems which have lingered for over three decades and it ends up in the pockets of a few people while the problem persists,” he said in Port Harcourt.
Mr Nsuke, who had previously expressed skepticism about the existence of the fund, said there is now “overwhelming evidence” of misappropriation, and called on President Bola Ahmed Tinubu’s administration to launch an immediate probe.
“We want accountability. The only way the Nigerian government can absolve itself of blame is to initiate a probe and get the money returned to work for Ogoni,” he said.
The MOSOP president emphasized that the looted fund, if properly managed, could have provided basic infrastructure including clean water, electricity, roads, and improved education for thousands of Ogoni residents.
“The money in question could have addressed the water crisis, electricity, roads, and education needs of our people. We cannot be crying of human rights violations in Ogoni while we do this to ourselves.
“We actually had a solution, and personal greed thwarted it. This is a worse form of injustice than some of the allegations we have leveled against the Nigerian state.”
Describing the theft as “economic injustice of the highest order,” Mr Nsuke insisted that silence from the federal government would only fuel suspicions of complicity.
“Ogoni people want this problem to be resolved. The starting point should be an investigation into what happened to the $300 million infrastructural development fund paid by the NNPC. We want a probe now and want the money back.
“People cannot share some $300 million meant for social development and expect the people to be silent. Ogoni is now fully aware the money was allocated to drive development in the land and the money is in private pockets.”
The MOSOP leader called on anti-corruption agencies, civil society organizations, and international partners to support efforts aimed at recovering the funds and ensuring that justice is delivered to the Ogoni people.
By Modupe Gbadeyanka
The 16th Honours Nite of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, received the full backing of Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings.
The company sponsored the event, which brought together industry leaders, corporate partners, and public sector decision-makers in the real estate sector.
It was an avenue to recognise and celebrate exceptional achievements in the real estate and development ecosystem.
The chairman of NIESV in Lagos, Mr Gbenga Ismail, while addressing guests at the programme themed Inspiring Excellence, Shaping the Future, said, “Honours Nite gives us the chance to highlight the excellence and integrity inherent in our profession. While we celebrate today’s achievers, we set a precedent for a future that embraces innovation.”
The chief executive of Stanbic IBTC Capital, Mr Oladele Sotubo, stated, “At Stanbic IBTC Capital, we believe that excellence in the real estate sector is necessary for sustainable growth and community development.
“By supporting events like the NIESV Honours Nite, we underscore our commitment to recognising and empowering the professionals who shape our built environment.
“Together, we can inspire innovation and uphold the highest standards, ensuring a future where quality housing and ethical practices thrive in Nigeria.”
Also, the Head of Real Estate Finance for West Africa at Stanbic IBTC Capital, Mr Tola Akinhanmi, expressed pride in supporting professionals and developers dedicated to providing high-quality housing solutions.
“These awards recognise projects that meet significant market demands and symbolise the progressive vision for the future of real estate in Nigeria,” he said.
At the ceremony, Stanbic IBTC Capital was announced as the winner of the Residential Development of the Period Award. This was for projects that demonstrated significant market influence and superior execution.
Biufort Homes Limited’s Greenwich Gardens (Ketu) won the Silver Award, while UPDC Plc’s The Hampshire earned the Gold Award for its outstanding design, execution, and strategic contribution to the premium residential landscape.
The collaboration between Stanbic IBTC Capital and the group highlights the importance of excellence in the real estate sector.
It sets a foundation for future innovations and advancements especially in underweight asset classes such as the residential sector which will help to catalyse developments and further bridge the housing supply gap in Nigeria.
This further underpins Stanbic IBTC’s value proposition and support to stimulate home ownership and acquisition via our end-to-end product offering including construction/development finance, insurance and various home loan packages which creates effective demand.
By Modupe Gbadeyanka
The third season of the YouTube series of Anzisha, The Journey, will focus on 30 very young entrepreneurs across Africa.
The documentary series will provide an uncensored glimpse into the grit of the small business owners, letting the viewers know the hurdles, strategic pivots, and moments of leadership that define their journeys.
With over 1.13 million YouTube views last season, The Journey S3 promises to be even more impactful.
This season culminates in a high-stakes pitch competition where four prizes totalling $40,000 will be awarded to the most promising entrepreneurs.
This intense pitch week in Johannesburg, South Africa, is where young founders refine their ideas, validate the work they’ve done over the last two years, and battle for prizes that can transform their ventures.
Viewers will see entrepreneurs navigate uncertainty when faced with unpredictability. These young leaders, aged 15 to 22, come from across Africa, including Zimbabwe, Nigeria, Madagascar, Benin, Uganda, Zambia, Ghana, Egypt, DR Congo, and Senegal.
Their ventures span across numerous sectors, from agriculture and food processing to technology, logistics, and personal care, clearly reflecting innovation across the continent.
The series showcases them building sustainable ecosystems that extend beyond financial returns and redefining leadership through inclusive and purpose-driven businesses.
The Managing Director of Anzisha, Didi Onwu, said, “The Journey season 3 is more than just a series; it’s a window into the future of African enterprise.
“It showcases the dedication, innovation, and resilience of young entrepreneurs who are not just building businesses but transforming their communities.”
The Journey’s season 3 offers a rich tapestry of experiences from a broad group of young African entrepreneurs.
Viewers will see the reality of their experiences, the balance of vision and execution, innovation and sustainability, and personal ambition driven by a desire to address gaps within their communities.
This season deepens understanding of the African entrepreneurial ecosystem by providing an honest look at the complexity of developing businesses in emerging markets.
By Adedapo Adesanya
The federal government is already developing a robust Green Methanol Industrial Complex, the highest in Africa and is seeking Brazilian partnership in design, certification and feedstock optimisation for socio-economic development of the country.
The Minister of Innovation, Science and Technology, Mr Uche Nnaji, during a visit of the Ambassador of Brazil to Nigeria, Mr Carlos Gracete, to his office in Abuja, said under President Bola Ahmed Tinubu’s Renewed Hope Agenda, the Ministry was driving reforms that will place innovation at the center of job creation, industrial growth and national competitiveness for economic development.
He emphasised that the efforts are being made to mechanize agro-processing and unlock the full potential of cassava, sugarcane and soybean value chain for the betterment of the citizens, reaffirming that the country is ready to work closely with Brazil to co-create inclusive, sustainable and high impact innovation projects.
On his part, the Director-General of the National Space Development Research Agency, NASRDA, Mr Matthew Adepoju while speaking, said that the agency is expanding Nigeria’s satellite capabilities and therefore seeks collaboration with Brazil’s national Institutes for Space Agencies on areas of Remote Sensing, Climate Monitoring, Land Use Analytics, Border Security and Disaster Response.
Also, the envoy said the purpose of the visit was to deepen bilateral cooperation between Nigeria and Brazil in key areas through technology, innovation driven development and trade relationships.
Methanol fuel is an alternative biofuel for internal combustion and other engines. It has chemical and physical fuel properties similar to ethanol and current research now focuses on the use as a sustainable marine fuel that will contribute to economic diversification of the country.
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