General
Nigeria Targets 20% From $90bn Deepwater Projects Financing
By Adedapo Adesanya
Nigeria wants to corner 20 per cent of the $90 billion in financing available for deepwater projects around the world in an ambitious move to boost its oil and gas sector.
This was disclosed by the Special Adviser to President Bola Tinubu on Energy, Ms Olu Verheijen, in her keynote address at an Executive Session of the Energy Institute and the National Association of Petroleum Explorationists (NAPE).
According to the President’s energy adviser, deepwater oil projects have delivered competitive returns as the country has moved from the bottom quartile of 13 indexed countries to the top three.
“Accessing 20 per cent of this will be more than enough to bring five major deepwater projects on-stream, unlocking 1.3 billion barrels of oil equivalent (boe),” she said.
Ms Verheijen noted that, in deepwater gas, Nigeria has moved from a total absence of a fiscal framework to having one for the first time in history.
According to her, the reforms targeted actual bottlenecks and real projects in the investment pipelines.
“In April this year, FID was reached on the Ubeta Non-Associated Gas project, a half-a-billion dollar project. The Ubeta field was discovered in 1965 and has finally been unlocked to deliver prosperity to multitudes of Nigerian lives and businesses,” she said.
“We are gearing up for our first FID on a greenfield deepwater development since the last one (Egina) in 2013.
“Going into 2025, we expect the investment momentum to quicken, proving beyond any doubt that President Tinubu’s energy reform agenda is truly revolutionary. Our challenges are addressable and fixable,” she explained.
The President’s aide added these new investments will have major implications for the Nigerian economy in terms of foreign exchange inflows which will help with exchange rate management and macroeconomic stability.
She added that local economies will benefit from the increased spending on construction and hiring, and skill-building and technology transfer will take place.
“Importantly, with the industry infrastructure being developed, each new investment will ensure that subsequent projects are possible at lower costs and with the guarantee of greater returns – creating a virtuous cycle of new investments.”
The Special Adviser noted that the session was apt at the time Nigeria needed ever-increasing levels of energy investment to catalyse its economic development.
She added that energy, in its many forms, remains a vital path to higher paying jobs, to industrialisation, to innovation, and to sustained prosperity, for Nigeria and for all of Africa.
Ms Verheijen then called on the stakeholders to be a part of the unfolding energy revolution in the country.
General
BoI, GIZ to Drive Enterprise Growth, Boost Climate Resilience
By Modupe Gbadeyanka
A partnership framework agreement designed to drive sustainable innovation and economic development for large enterprises, and Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria has been signed by the Bank of Industry (BoI) and the German Agency for International Cooperation (GIZ).
Both parties put pen to paper on Wednesday, April 15, 2026, positioning them to mutually ensure that capacity building efforts for businesses focuses on strengthening the technical and institutional capabilities of BoI’s Business Development Service Providers (BDSPs), equipping them to deliver higher-impact advisory services to the bank’s customers; as well as enshrine a structured vocational training provided under the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme to enhance productivity, workforce quality and overall business competitiveness to MSMEs.
Through this deal, there will be coordinated interventions across key strategic pillars, including access to finance, entrepreneurship development, capacity building, and market access; and integrates focused support for climate finance and renewable energy investments; and a robust alignment with global sustainability priorities that enables MSMEs to be engines of economic development.
“This partnership is about closing the gap between enterprise potential and enterprise reality. Too many Nigerian businesses, particularly MSMEs, have the ideas, the drive, and the market opportunity, but lack the financing, technical capacity, or market access needed to scale,” the chief executive of BoI, Mr Olasupo Olusi, said.
“This partnership reflects our unwavering commitment to constantly form new partnerships to strengthen the entrepreneurial ecosystem in Nigeria.
“By combining our financing expertise with our partner’s international development experience, we are building a comprehensive framework that will directly translate into jobs, innovation, affordable, long-term financing and sustainable growth for MSMEs in Nigeria,” he added.
In his remarks, the Country Director for GIZ Nigeria and ECOWAS, Mr Magnus Wagner, said, “This partnership demonstrates our joint commitments to strengthening Nigeria’s private sector and to advancing sustainable and inclusive economic growth. Through this partnership, we aim to support small and medium enterprises.
“We are trying more to look at SME, formalised business, which is the resilient backbone of Nigeria’s economy. So, we would like to work, we have decided in areas such as climate and sustainable finance, renewable energy and energy efficiency, entrepreneurship and innovation, women’s economic empowerment, agribusiness and rural transformation, and digital trade and market access.
“We look forward to a close and successful collaboration with the Bank of Industry, one that delivers tangible results for business, communities, and the country and the population as a whole.”
General
DSS Re-Arraigns Malami, Son on Terrorism, Firearms Charges
By Adedapo Adesanya
The Department of State Services (DSS) on Wednesday re-arraigned former Attorney General of the Federation (AGF), Abubakar Malami (SAN) and his son, Abdulaziz, before a Federal High Court in Abuja on an amended charge bordering on alleged terrorism and unlawful possession of firearms and ammunition.
The counsel to the DSS, Mr Akinlolu Kehinde (SAN), told the court that an amended charge has been filed to replace an earlier one on which they had been arraigned.
Mr Kehinde applied to withdraw the earlier charge and requested that the amended one be read to the defendant for the pleas to be taken afresh.
The counsel to the defendants, Mr Shaibu Aruwa (SAN), confirmed that his clients were served with the amended charge and agreed that the fresh charge be read to the defendants.
Mr Malami and his son are alleged to have, in December 2025, prepared to commit acts of terrorism by having in their possession and without a license, a Sturm Magnum 17 – 0101 firearm, 16 Redstar AAA 5’20 live rounds of cartridges and 27 expended Redstar.
However, Mr Malami and his son both pleaded not guilty, following which the prosecution sought a date for the commencement of the trial.
Mr Aruwa did not object to a date for trial, but prayed the court to allow the defendants to remain on the bail earlier granted them by the court, on the conditions they had met.
With Mr Kehinde not opposing Mr Aruwa’s oral application, Justice Joyce Abdulmalik held that the defendants should continue on the bail earlier granted them on February 27, which conditions they had met.
Justice Abdulmalik adjourned till May 26 and June 15 for trial.
Counts in the amended charge read:
“That you Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court, did engage in preparation to commit acts of terrorism by having in your possession and without license, a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar and thereby committed an offence contrary to and punishable under Section 29 of the Terrorism (Prevention and Prohibition) Act, 2022.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State, within the jurisdiction of this Honourable Court did conspire amongst yourselves in preparation to commit acts of terrorism by having in your possession and without a license a Sturm Magnum 17 – 0101 firearm, Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and Twenty-Seven (27) expended Redstar, contrary to Section 26 (1) of the Terrorism (Prevention and Prohibition Act) 2022 and punishable under Section 26 (3) (a) and (b) of the Terrorism (Prevention and Prohibition Act) 2022.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession a Sturm Magnum 17 – 0101 firearm and thereby committed an offence contrary to Section 3 of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Sixteen (16) Redstar AAA 5’20 live rounds of Cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.
“That you, Abubakar Malami, Adult, Male, and Abdulaziz Abubakar Malami, Adult, Male, sometime in December, 2025, at Geeze Phase II Area, Birnin Kebbi LGA, Kebbi State within the jurisdiction of this Honourable Court, without a license, did have in your possession Twenty-Seven (27) expended Redstar AAA 5’20 live rounds of Cartridges and thereby committed an offence contrary to Section 8 (1) (b) (ii) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004 and punishable under Section 27 (1) (a) (i) of the Firearms Act, CAP F28, Laws of the Federation of Nigeria, 2004.”
General
DHQ Denies Deploying Repentant Boko Haram Fighters to Tackle Terrorism
By Adedapo Adesanya
The Defence Headquarters (DHQ) has dismissed claims circulating on social media that repentant and active Boko Haram members are being armed to fight alongside Nigerian troops under Operation Safe Corridor.
The allegation, made in a viral video by a Danish vlogger identified as Jones Raw, was described by the military as “false, misleading, and entirely unfounded.”
The Coordinator of Operation Safe Corridor, Brigadier General Yusuf Ali, clarified that the facility shown in the video is not one of the programme’s De-radicalisation, Rehabilitation, and Reintegration (DRR) camps.
He explained that the official OPSC facility handling former Boko Haram members is located in Mallam Sidi, Gombe State, and operates as a secure and controlled military environment.
According to him, the location depicted in the video does not match the structural design, layout, or operational setting of the recognised facility.
He further noted that neither the vlogger nor the individuals featured in the footage have ever been granted access to the camp.
The officer stressed that Operation Safe Corridor is a strictly non-kinetic, multi-agency initiative focused on the deradicalisation, rehabilitation, and reintegration of carefully screened individuals.
“At no point are participants armed, mobilised, or deployed for combat operations,” he said, adding that beneficiaries are handed over to state authorities after completing the programme and remain under monitoring frameworks.
He added that the initiative operates with the support of international partners, including the European Union, ensuring adherence to global best practices and transparency.
The DHQ maintained that the programme remains a key component of Nigeria’s counterterrorism strategy, aimed at reducing the number of active fighters and encouraging voluntary disengagement from insurgent groups.
He also invited credible observers to visit the OPSC facility in Mallam Sidi to independently verify its operations, urging the public to disregard the misleading claims, which seek to destabilise the country.
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