General
Nestle Nigeria Empowers 50 Women in Osun, Ekiti
By Adedapo Adesanya
Nestle Nigeria will empower 50 women in Osun and Ekiti States in the second phase of its initiative named Empowering Rural Women in Nigeria, bringing the number of women reached so far under the program which aims to reach 300 women across the country to 100.
The beneficiaries comprising female retailers in Nestlé’s value chain will receive grants valued at 300 per cent of their monthly sales in form of Nestlé products.
According to the company, they will also participate in training and mentorship programs which will enable them to scale up their businesses, thereby increasing their household incomes.
Speaking on the initiative, Nestlé Nigeria’s Commercial Manager, Mr Khaled Ramadan said, “We are happy to fulfil our promise of expanding Nestlé Empowering Rural Women in Nigeria to reach more women in other parts of Nigeria.
“We are pleased with the progress made by the first 50 beneficiaries who currently enjoy the training and mentorship provided by Nestlé and her implementation partners – Straplan Advisory Ltd.
“They are reporting faster turnover and increased revenue as well as stronger visibility of their outlets within their locations. We are therefore confident that the 50 selected retailers in South West Nigeria will also reap the full benefits of the support we are providing through training, mentorship and grants.”
In his remarks at the launch of the second phase in Osogbo, Osun State, Mr Phranklin Audu, Lead Trainer & Head of Partnerships at Straplan Advisory Ltd, said, “Following the successful implementation of the pilot phase, the rural women empowerment project from Nestlé Nigeria in its second phase sees rural women from the South-Western Region (Osun & Ekiti States) benefiting from the economic and social empowerment initiative.
“We commend the Nestlé team for sustaining this initiative. To empower traders with 300 per cent of their current monthly revenue at zero cost to the beneficiaries is indeed worthy of commendation”
One of the beneficiaries Mrs Bashiru Hairat expressed her gratitude to Nestle. She said, “I want to thank Nestlé for doing a lot for my family. I am so happy that I was selected to participate in this program. The grant will increase my business and income which will enable me to improve my standard of living and that of my family.”
Nestlé Empowering Rural Women in Nigeria is designed to help rural women retailers scale up their businesses and sustain the new level of up to three times the size of their existing business. It is one of the Creating Shared Value initiatives that Nestlé deploys to help build thriving communities by improving livelihoods.
The training and mentorship elements of the project are provided by Straplan Advisory Ltd who has a track record of helping rural dwellers access information and skills to improve their standards of living. Each beneficiary retailer is linked to a one-on-one mentor for guidance and consistent support over three months to ensure their success.
The first phase of Nestlé Empowering Rural Women in Nigeria was launched in the suburbs of the Federal Capital Territory, Abuja in August 2021.
By Adedapo Adesanya
The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, has announced that Nigeria will launch a new alphanumeric postcode system on October 1, 2026, with every home expected to have a unique postcode.
Mr Tijani disclosed the development in a video post on X, describing the new system as a more precise and digitally oriented approach to addressing locations across the country.
He said the initiative would mark a significant shift in Nigeria’s postal addressing system by assigning unique postcodes to individual homes.
The initiative marks a major step in Nigeria’s digital transformation agenda. By replacing the outdated numeric-only system, the alphanumeric codes provide a more flexible and scalable framework that can accommodate the country’s rapid urban growth and diverse settlement patterns.
For emphasis, an alphanumeric postcode system is a postal indexing system that uses a combination of both letters (alpha) and numbers (numeric), along with spaces or punctuation, to identify specific geographic locations, streets, or individual buildings for mail delivery.
Unlike purely numeric postcode systems (such as the 5-digit US ZIP Code or 5-digit codes used in some European countries), alphanumeric codes offer a much higher number of unique combinations using fewer total characters. This flexibility allows postal authorities to pinpoint locations with incredible precision, often down to a single side of a street or a specific large building.
“On October 1st 2026 Nigeria’s new Alphanumeric Postcode System goes live,” Mr Tijani said.
“For the first time, every home will be assigned a unique postcode that’s simple, precise and built for a digital future,” he added.
The minister urged Nigerians to prepare to generate their individual postcodes ahead of the launch.
The new system is expected to strengthen Nigeria’s digital addressing infrastructure and improve the identification and location of homes and properties for postal and other location-based services.
The initiative is being implemented in collaboration with the Nigerian Postal Service (NIPOST) as part of broader efforts to modernise the country’s addressing and digital infrastructure.
By Modupe Gbadeyanka
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has been directed to give an account to Nigerians on how the current government has fared since its inception on May 29, 2023.
This directive was given by President Bola Tinubu in a message posted on his verified social media handles on Wednesday.
This coincides with the commencement of campaigns for the 2027 presidential election scheduled for January 16.
According to the timetable of the Independent National Electoral Commission (INEC), candidates seeking to become the country’s president are eligible to kick off their campaigns from today, Wednesday, August 19, 2026.
In his message today, Mr Tinubu said, “When we began this journey of reform in 2023, I promised that the difficult decisions we were making would serve the purpose of building an economy that works better for you and a country that is stronger for our children.
“Today, your government presents The Reforms Scorecard. It sets out what our reforms have achieved, what they have cost us, and the greater costs and harms we have prevented by acting when we did.
“I have therefore directed the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, to give an account to Nigerians, to explain the numbers, the choices we have made, the progress recorded, and the work that remains.
“You deserve to see the numbers. You deserve to know what has changed and what these reforms mean for you, your family, your business and our country.
“This is your government. This is your country. This is our account to you.”
Shortly after he took the oath of office over three years ago, President Tinubu declared that subsidies on petroleum products were gone. He later approved foreign exchange (FX) reforms, which devalued the Nigerian Naira, shooting from about N800 per Dollar to nearly N2,000 per Dollar. However, it is currently slightly above N1,340 per Dollar in the official market.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Agip Exploration (NAE) Limited are advancing discussions on the development of deepwater assets estimated to hold 500 million barrels of oil reserves.
The development followed a meeting between the chief executive of the state oil company, Mr Bayo Ojulari, and Agip’s Vice Chairman and Managing Director, Mr Maurizio Pinna, in Abuja.
The talks focused on ongoing work on deepwater acreage jointly held by NNPC, NAE and Shell Nigeria Exploration and Production Company (SNEPCo) as well as plans to bring the associated resources into production.
According to NNPC, the acreage comprises the Zabazaba and Etan deepwater fields, with estimated reserves of about 500 million barrels.
The fields are located in Nigeria’s deepwater terrain and are considered significant to the country’s efforts to expand its upstream oil production base, particularly as operators seek to advance projects capable of delivering additional barrels over the medium to long term.
While details of the expected production timeline were not disclosed, the meeting underscores renewed industry focus on unlocking Nigeria’s deepwater resources and growing crude oil production.
The acreage comprises licences converted from OPL 245 and is operated by NAE in partnership with NNPC Limited and SNEPCo.
Mr Ojulari and Mr Pinna also reviewed the work currently underway on the assets and the expected production outlook, with the discussions centred on advancing deepwater development.
The engagement comes amid renewed efforts to attract investment into Nigeria’s offshore petroleum resources and increase national oil production.
