General
Ondo Intensifies Multi-Purpose Deep Sea Port Plans
By Adedapo Adesanya
The Ondo State government has intensified its efforts to build a deep seaport in the state as Governor Rotimi Akeredolu has received the Outline Business Case (OBC), which is one of the critical requirements preceding port declaration which reveals the project as a multi-purpose deep seaport.
Speaking at the event in Akure, Mr Akeredolu noted that the level of cooperation for his administration to establish Port Ondo coupled with the confidence of the consulting firm on the viability of the project is a pointer to its eventual success.
The Governor said the abundance of resources in the state, especially within its riverine communities, coupled with the fact that it has the longest coastline in Nigeria, would make the proposed port the hub for the West Africa sub-region.
“This port is very important to me, to the people of the state, Nigeria, and indeed West Africa. We are going to pursue this dream with vigour,” he said.
He identified a lack of continuity and abandonment of projects by successive administrations as the greatest problems regarding the development of most states in Nigeria.
He noted that if the deep seaport project initiated by the Mr Olusegun Agagu’s administration (2003 – 2009)had been kept alive by the immediate past administration, the state would have by now become a critical player in the maritime sector.
Also speaking, the head of the consulting firm, OIM-FBS Consortium, Mr Ekong Etim, said the OBC is essentially a confirmation of the Governor’s vision that the port is a productive business; worthy of venturing into by both the public and private ownership structure it is designed for.
“We are happy that our report confirms that the Governor’s vision is viable. Its viability has been carefully assessed technically, legally, financially, and economically,” the consultant added.
Mr Etim said the OBC has been submitted to the Nigerian Ports Authority (NPA), for onward processing through the Federal Ministry of Transportation, and will subsequently receive the attention of Infrastructure Concession Regulatory Commission (ICRC), for the issuance of Certificate of Compliance, adding that at the procurement stage, which is the final, prospective investors would be invited to form a consortium to finance the deep seaport project.
On his part, the Special Adviser to the Governor/Chief Executive Officer, Ondo State Development and Investment Promotion Agency (ONDIPA), Mr Boye Oyewumi, said: “In two years, we have been to places where people have not been in 14 to 16 years; that is no mean feat. Commitment starts from political will and the determination that whatever happens, this project must come to fruition.
“So, we thank the Governor for being actively involved in the project.”
Mr Oyewumi, who described the project as an investment magnet, assured that given the location, it would enjoy the interest of international investors.
“The construction of the port is off the state’s balance sheet. This means it will not be funded from the coffers of the state. Private investors would develop the port.
“When you have the magnet, metals are attracted to it. Investors, without even having a roadshow before we got to this stage, have been coming to us that they want to invest in the port.
“Two years ago, Dubai Port signed an MoU with us that they wanted to build the port. They did that based on the port’s feasibility, which is different from the OBC.
“We also have a lot of Chinese, South African, and French companies which have shown interest,” he said.
By Adedapo Adesanya
Nigeria’s Minister of Foreign Affairs, Mr Yusuf Tuggar, has resigned from his position, in line with the directive that government appointees seeking political offices must resign before March 31.
Business Post reports that the diplomat is eyeing a governorship ambition in Bauchi State ahead of the 2027 general elections.
Mr Tuggar’s resignation was confirmed in a statement by the ministry’s spokesperson, Mr Kimiebi Ebienfa, on Monday.
Mr Tuggar submitted his resignation letter on Monday, barely 24 hours before the deadline set by President Bola Tinubu, which directs all political appointees under his administration seeking to contest elective offices in the 2027 elections to resign before March 31.
The directive is in line with Section 88(1) of the Electoral Act, 2026, and the timetable released by the Independent National Electoral Commission for party primaries ahead of the 2027 polls.
With this development, more resignations are expected before the March 31 deadline as appointees seeking elective offices move to meet the stipulated deadline.
Earlier today, the Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, formally resigned from his position to join the African Democratic Congress (ADC) with his sights on the Kano governorship ticket.
Mr Tuggar’s resignation comes amid the speculation of his interest in contesting the 2027 Bauchi State governorship election on the platform of the All Progressives Congress (APC).
The 59-year-old is a seasoned diplomat, policymaker, and political figure who was appointed as minister by President Bola Tinubu in August 2023.
Born on March 12, 1967, he has built a distinguished career spanning diplomacy, politics, energy, and strategic consulting.
He is widely regarded for his role in shaping Nigeria’s global engagement and advancing its foreign policy priorities.
By Aduragbemi Omiyale
The Lagos State government has promised to sustain its collaboration with private sector players to drive sustainable urban development, create jobs, and position Lagos as a leading hub for commerce and industry in Africa.
This assurance was given by the state governor, Mr Babajide Sanwo-Olu, at the commissioning of Irele Tower last Thursday.
The nine-storey facility is the first commercial building within the Lagos Free Zone (LFZ). It is EDGE-certified, which sets a new standard for sustainable workspace in Lekki, Nigeria’s fastest-growing economic corridor.
Irele Tower is designed to host office and retail activities in the Lekki economic corridor. It was built for efficiency with 26 per cent less energy and 46 per cent less water consumption. It is an eco-friendly building, with the design inspired by maritime architecture, reflecting its proximity to the Lekki Deep Sea Port.
Mr Sanwo-Olu described the delivery of the Irele Tower as a significant milestone in the development of the economic zone in line with the agenda of making Lagos a 21st-century economy by boosting economic growth to support the state’s developmental plans.
According to him, the facility is critical to unlocking the full potential of the Ibeju-Lekki axis of the economic zone, particularly given the presence of the Lekki Deep Sea Port and other major industrial investments within the Lagos Free Zone.
“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors. This development not only enhances the infrastructure profile of the Lagos Free Zone but also strengthens our vision of making Lagos a premier destination for investment and economic activities.
“We will continue to support initiatives that promote industrial growth, create employment opportunities, and improve the overall business environment in our state,” he said.
In her remarks, the chief executive of LFZ, Ms Adesuwa Ladoja, stated that the development reflects the zone’s commitment to creating an integrated ecosystem where businesses can thrive, supported by modern infrastructure, a strategic location, and efficient logistics.
“The commissioning of Irele Tower represents a defining milestone in our journey to build a world-class industrial and commercial hub. This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants.
“As the first commercial tower within the Lagos Free Zone, Irele Tower, sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise,” she added.
Irele Tower sits on a gross floor area of approximately 12,000 square metres. It offers modern workspaces tailored to evolving business needs. The facility also offers premium amenities, including office spaces, retail outlets, parking facilities, shared workspaces, and a rooftop cafeteria, creating a dynamic, integrated business environment.
By Adedapo Adesanya
The Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, has formally resigned from his position, obeying a directive that requires office holders with political ambitions to step down before March 31, 2026.
Mr Gawuna, a former governorship candidate of the All Progressives Congress (APC) in Kano State, submitted his resignation in a letter dated March 27, 2026. In the letter, he stated that his decision takes immediate effect and is in compliance with directives issued by President Bola Tinubu.
He is expected to formally announce his move to the African Democratic Congress (ADC) on Tuesday alongside Mr Rabiu Musa Kwankwaso, a prominent political figure and former Governor of Kano, who resigned from the New Nigeria People’s Party (NNPP).
The former governor of Kano and senator rose to prominence through his grassroots-oriented Kwankwasiyya Movement, which has played a decisive role in shaping electoral outcomes in Kano. His political journey has seen him move across major parties before leading the NNPP into the 2023 general elections, where he maintained significant influence in the North-West state.
“My resignation is in strict compliance with the President’s directive requiring all political appointees to step down in accordance with the provisions of the Electoral Act,” Mr Gawuna wrote.
In his resignation letter, Mr Gawuna expressed appreciation for the opportunity to serve under the current administration, describing his tenure as both an honour and a privilege.
“I am profoundly grateful to His Excellency, President Bola Ahmed Tinubu, for the confidence reposed in me to serve. It has been a privilege to contribute to the growth and development of the Federal Mortgage Bank of Nigeria and our great country,” he stated.
He also struck a reflective tone regarding his future, adding, “I place my future in the hands of Allah (SWT) and seek His divine guidance in all my endeavours.”
Mr Gawuna assured stakeholders of a seamless transition process, noting that he would hand over responsibilities in line with established procedures.
“I remain committed to ensuring a smooth and orderly handover in accordance with all laid-down directives,” he said.
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