General
Ogun Governor Announces Full Implementation of Contributory Pension Scheme
By Adedapo Adesanya
The Ogun State Government says it has commenced full implementation of the Contributory Pension Scheme (CPS) in a bid to resolve the ongoing industrial action that has disrupted public services across.
Speaking with labour leaders, the governor of the state, Mr Dapo Abiodun, said the scheme commenced on July 2, 2025, describing the move as a decisive step toward restoring trust between the state and its workforce.
“This is not just a policy adjustment, it is a commitment to ensuring that our workers are not deprived of what is rightfully theirs,” the governor said.
He also said the state government has also rolled out a 10-year framework to clear outstanding pension liabilities in two five-year tranches, scheduled for completion by 2035.
Mr Abiodun promised that the arrangement would be codified into law to ensure continuity beyond his administration, revealing that in addition to the pension reform, his administration will implement long-delayed promotions from 2023 and 2024.
Workers promoted in 2023 will begin receiving salary increases reflective of their new ranks in September 2025 while those promoted in 2024 will see theirs by December, three months earlier than the initial March 2026 timeline, he promised.
The Organised labour under the Nigeria Labour Congress (NLC) in Ogun State commenced an indefinite strike over the government’s failure to remit pension deductions, implement the national minimum wage, and address other unresolved issues.
Speaking on Monday, the Ogun State Chairman of NLC, Mr Demola Hameed-Benco, said this followed a resolution reached at a statewide congress of civil service workers in Abeokuta, according to the News Agency of Nigeria (NAN).
The statement directed all civil and public servants to withdraw their services immediately, citing the government’s alleged non-compliance with the Contributory Pension Scheme (CPS) established under the Ogun State Pension Reform Law of 2008, amended in 2013.
At the time, Mr Abiodun said the strike was unnecessary and avoidable.
“There was no need for industrial action when we could have sat down to iron out the issues,” he said, urging union leaders to prioritize dialogue moving forward.
The governor further emphasized that structural measures had been put in place to ensure a seamless rollout of the CPS, aimed at guaranteeing retirement security for civil servants.
On their part, the labour leaders said the strike was not intended to paralyze the state’s economy or undermine its peace, but rather to safeguard the rights of workers.
They thanked the Ogun governor and pledged to continue cooperating with the government, reaffirming their commitment to maintaining the state’s reputation.
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.
