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NGX, IFC Push for Gender Equality Via Nigeria2Equal

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Nigeria2Equal

By Sodeinde Temidayo David

The Nigerian Exchange (NGX) Limited in partnership with the International Finance Corporation (IFC) held a webinar on August 6 to discuss the promotion of gender equality among publicly quoted companies.

The session was used to unveil the Nigeria2Equal initiative, which was announced last year at the 2020 International Women’s Day symposium hosted by the exchange and the IFC.

The moderator, Ms Anne Njambi Kabugi, who is the Regional Gender Lead – Africa of IFC, disclosed that the scheme comes in four categories.

According to her, the first category is on gender balance in leadership and workforce, noting that the current average percentage of women in the workforce was 33 per cent, lower than the global average of 37 per cent.

Ms Kabugi further explained in detail the average percentage of women at four workforce levels of companies, including the senior management level, revealing that no company has achieved a gender balance at all four workforce levels.

The second category, she said is on the progress of equal compensation and work-life balance scheduled in the Nigeria2Equal initiative.

In her presentation, she noted that no company publishes gender-segregated pay information or a strategy to close the gender pay gap.

Giving explanations on the leaves and work-life balance, she disclosed that only three companies have met Equileap’s standard for career leave.

On parental leave, she noted that five companies offer 14 weeks or more of 2/3 to fully paid primary caregivers, two companies offer 2 weeks of parental leave to the secondary caregiver at 2/3 to fully paid.

She further noted that three companies offer both flexible hours and locations, six companies offer flexible hours, five companies offer flexible locations.

The third category reviewed the report of companies following the new policies made in promoting gender equality. It was stated that no company publishes all of eight policies and that only 12 companies had seven out of the eight policies given.

The follow-up data showed that 73 per cent adhered to the ‘social supply chain policy’, 53 per cent of companies published the ’Anti-sexual harassment policy’, 77 per cent engaged in the ‘Training and carer development policy’, 80 per cent obeyed the ‘Human right policy’, 100 per cent applied the ‘Health and safety policy, 97 per cent issued the’ Gender nondiscrimination in recruitment’ and 97 per cent aided to the ‘Employee support policy’.

The fourth category disclosed the commitment, transparency and accountability of Equileap’s companies.

It was stated that only one company is a current United Nations (UN) Women’s Empowerment Principles (WEPs) signatory and that in 2020, 6 per cent of companies in Equileap’s global database were signatories of UN WEPs

The webinar continued with the Chief Executive Officers (CEOs) and representatives giving their remarks and comment as they gave more information on their companies development for gender equality and enactment of the Nigeria2Equal initiative.

The companies in partnership of the Nigeria2Equal are Sterling Bank Plc, Lafarge Africa Plc, Cadbury Nigeria Plc, MTN Group Limited, The United Africa Company of Nigeria (UAC), Moove Africa, Ecobank Transnational Inc., Union Bank of Nigeria Plc, Stanbic IBTC Holdings, Access Bank plc, Airtel Africa plc, Ardova Plc (AP), AIICO Insurance Plc, Red Star Express Plc, and Flour Mills of Nigeria (FMN).

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NCDMB Targets Midstream Compliance to Boost Nigeria’s Industrial Growth

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By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its compliance drive in the oil and gas midstream segment, convening a high-level sensitisation workshop aimed at deepening adherence to the Nigerian Oil and Gas Industry Content Development Act.

The workshop, themed Compliance with the Provisions of the NOGICD Act 2010: A Pathway to Industrialization, held in Lagos, drew key operators across gas processing, transportation, storage and infrastructure development.

Speaking on behalf of the Executive Secretary of NCDMB, Mr Felix Ogbe, the Director of Monitoring and Evaluation Division, Mr Omomehin Ajimijaye, described the midstream sector as “a critical bridge between upstream production and downstream utilisation.”

“The midstream segment plays a pivotal role in gas processing, transportation, storage and infrastructure development, all of which are essential pillars for achieving Nigeria’s industrialisation agenda,” Mr Ajimijaye said.

Mr Ajimijaye stressed that adherence to the NOGICD Act goes beyond regulatory obligation.

“Compliance with the NOGICD Act is not merely a statutory requirement,” he stated. “It is a strategic imperative for sustainable national development.”

He explained that the programme was structured to clarify registration processes, Nigerian Content Equipment Certification, expatriate quota requirements, statutory reporting templates and submission timelines.

“Our objective is to deepen stakeholders’ understanding of compliance requirements, address recurring gaps identified during Monitoring and Evaluation reviews, and foster constructive dialogue on operational realities within the midstream space,” he added.

According to Mr Ajimijaye, the board has received feedback from operators highlighting challenges in meeting Nigerian Content obligations, including reporting complexities and varying interpretations of certain provisions of the Act.

“As a responsive regulator and development-focused institution, we remain committed not only to enforcing compliance but also to providing guidance, clarity and the necessary support to enable stakeholders succeed,” he assured participants.

With Nigeria positioning gas as a transition fuel and economic growth driver, regulatory clarity in the midstream space is essential to unlocking investment and local capacity development.

The participants received technical presentations from key NCDMB divisions, including: Monitoring and Evaluation Division, Project Certification and Authorisation Division, Capacity Building Division and Zonal Coordination Division.

The interactive sessions provided practical guidance on engagement protocols with the Board and strengthened collaboration between regulators and operators.

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AGF Fagbemi Takes Over Malami Prosecution from DSS

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By Adedapo Adesanya

The Minister of Justice and Attorney General of the Federation, Mr Lateef Fagbemi, has taken over the prosecution of his immediate predecessor, Mr Abubakar Malami.

Mr Malami is facing terrorism and illegal firearms possession charges brought against him by the Department of State Service (DSS).

Mr Fagbemi, a Senior Advocate of Nigeria (SAN), took over the trial from the secret police on Wednesday at the Federal High Court in Abuja.

The Director of the Public Prosecution of the Federation, Mr Rotimi Oyedepo, announced the Attorney General’s appearance in the matter.

Mr Oyedepo told Justice Joyce Abdulmalik that the trial cannot proceed because Mr Fagbemi has just taken over the prosecution.

He informed the court that the prosecution needed more time to familiarise itself with the facts of the case.

Counsel to the defendants, Mr Adedayo Adedeji, who did not oppose the application, however, urged the court to strike out the matter if the prosecution fails to open its case at the next adjourned date, citing lack of diligent prosecution.

Justice Abdulmalik subsequently adjourned the matter to March 10 for trial and for the prosecution to formally open its case.

The court had, on February 27, admitted Malami and his son, Mr Abdulaziz, to N200 million bail, with two sureties, each one of whom must own landed property either in Maitama or Asokoro.

Justice Abdulmalik had said that the title of the property must be deposited with the Deputy Chief Registrar of the Court along with valid international passports.

The sureties were also ordered to depose to an affidavit of means and submit their two recent passport photographs to the court.

Mr Malami and his son were also ordered to submit their international passports and recent passport photographs to the court.

The DSS had arraigned the ex-AGF and his son, Mr Abdulaziz, on a five-count charge bordering on terrorism and illegal firearms possession.

In the charge, marked FHC/ABJ/CR/63/2026, filed before the Federal High Court in Abuja, Malami is also accused of refusing to prosecute suspected terrorism financiers, whose case files were handed to him while he served as the AGF and Minister of Justice.

Mr Malami and Mr Abdulaziz are equally accused of warehousing firearms in their residence at Gesse Phase II Area, Birain Kebbi LGA, Kebbi State, without lawful authority.

The DSS accused Mr Malami in count one of the charge, with knowingly abetting terrorism financing, while the ex-AGF and his son are charged in counts two to five, with unlawful, possession of a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5720 live rounds of cartridges and 27 expended Redstar AAA 5’20 cartridges, contrary to and punishable under relevant Sections of Terrorism (Prevention and Prohibition) Act, 2022 and Firearms Act, 2004.

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NPA Records 24.8% Growth in Total Cargo Volume for 2025

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By Adedapo Adesanya

The Nigerian Ports Authority (NPA) has announced a significant 24.8 per cent increase in total cargo throughput for 2025.

According to the NPA’s 2025 Operational Performance Report, total cargo throughput rose from approximately 103.6 million metric tons in 2024 to over 129.3 million metric tons in 2025.

The report identified Lekki Port as Nigeria’s leading port, accounting for 40.6 per cent of the nation’s total cargo throughput. Onne Port followed with 19.1 per cent, while Apapa Port handled 16.7 per cent.

Beyond volume, Lekki Port also received the largest vessels, recording an average Gross Registered Tonnage (GRT) of 55,712, slightly higher than Onne Port’s 53,022 GRT.

Apapa and Tin Can Island ports recorded average vessel sizes of 33,251 GRT and 36,909 GRT, respectively, while Delta Ports handled vessels averaging 17,414 GRT.

Although Tin Can Island Port recorded the highest frequency of ship arrivals, accounting for 22.7 per cent of total ship calls, Lekki and Onne are increasingly attracting larger “heavyweight” vessels, strengthening Nigeria’s capacity to handle higher-value cargo.

The data showed that imports continued to dominate cargo traffic, and the report highlighted a steady rise in outward trade. Exports accounted for 39.0 per cent of total cargo throughput, while inward traffic represented 59.2 per cent.

Containerised cargo, widely regarded as a key indicator of trade activity, recorded substantial growth. Total container traffic increased by 25.7 per cent, surpassing 2.1 million Twenty-foot Equivalent Units (TEUs).

Import-laden containers surged by 32.8 per cent, while export containers rose by 3.1 per cent. Notably, transhipment containers recorded a remarkable 205.8 per cent increase, positioning Nigeria as an emerging regional logistics hub serving West and Central Africa.

Liquid bulk cargo, including petroleum products and chemicals, remained the dominant commodity category, accounting for 54.7 per cent of total cargo, while containerised cargo represented 24 per cent.

Speaking on the report, the Managing Director of NPA, Mr Abubakar Dantsoho, described the 2025 performance as a historic milestone.

“Nigeria’s maritime sector recorded a historic surge in activity in 2025, driven by increased cargo throughput, rising container traffic, and a growing export footprint. This underscores the Federal Government’s commitment to economic diversification,” he said.

Looking ahead, Mr Dantsoho expressed confidence that the Federal Government-approved port modernisation programme and the implementation of the National Single Window system would power the next phase of growth.

The comprehensive modernisation initiative aims to rehabilitate ageing infrastructure, deepen berths, upgrade quays, expand cargo-handling capacity, and deploy advanced digital solutions across Nigeria’s ports.

The reforms are expected to reduce vessel turnaround time, cut cargo dwell time, improve safety standards, and boost overall operational efficiency.

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