General
Stock Market Bigwigs, Others for Gender Equality Symposium in Lagos
By Modupe Gbadeyanka
On Thursday, March 8, 2018, the Nigerian Stock Exchange (NSE) will for the fourth consecutive year join other global exchanges to ring the bell for gender equality in celebration of the 110th International Women’s Day (IWD).
The event, themed ‘Press for Progress,’ is slated for the Stock Exchange House, Marina, Lagos and is aimed at motivating and uniting everyone to think, act and be gender inclusive.
As part of the activities lined up for the 2018 International Women’s Day celebration, the NSE will organise a half-day symposium which will be headlined by the Deputy British Deputy High Commissioner to Nigeria, Laure Beaufils and Dame Abimbola Fashola, former First Lady of Lagos State and Chairman, Learn NGO/Ella Care.
This free to attend symposium will also feature panel discussions by an array of thought leaders that include Tinuade Awe, Executive Director, Regulation, NSE; Patience Kunene, Executive Director, World Bank; Oscar N. Onyema, OON, CEO, NSE; Ali Baba, Nigeria’s foremost Stand-up Comedian and Actor; and Dan Agbor, Partner, Udo Udoma and Belo-Osagie amongst others. The event will be moderated by Titi-the-Dynamite.
The symposium is being organised in partnership with Sustainable Stock Exchanges Initiative, United Nations Women, United Nations Global Compact, International Finance Corporation, the World Federation of Exchanges, Women in ETFs, and Women in Management, Business and Public Service (WIMBIZ).
It will attract about 200 female participants from the corporate, education, government and non-governmental sectors, who will stand a chance to win great prizes during the raffle draw.
Commenting on the planned celebration, Olumide Orojimi, Head, Corporate Communications stated that, “As a sustainable stock exchange, we are pleased to offer our platform to putting the required spotlight on the call for recognition of the achievements of women, and supporting the call for equality and justice.
“This initiative reaffirms our pledge for parity at the NSE and serves as a stimulant for our ecosystem to do same.
“We look forward to great insights that will accelerate the bridging of the gender gap, as we think 217 years, as contained in the World Economic Forum Global Gender Gap Report 2017, is a long time to wait to achieve gender parity.”
“Currently at The Exchange, we promote a working environment that is inclusive for all as we believe that achieving gender equality is paramount to developing the society. We have a female to male employees’ ratio of 1:2 and we are making sure footed steps to increase the number of women in our employment and especially those in leadership positions.
“The Exchange, in 2017, took steps to address the lack of female representation on its National Council by electing three female members at the last 2017 Annual General Meeting.
“Today, NSE has 23% female representation on the National Council as opposed to the zero representation in 2016”, Orojimi added.
The NSE International Women’s Day Symposium provides an opportunity for participants and women in particular, to partake in the exchange of stimulating stories of women’s achievements as well as celebrate what women have done and what women can do.
It is also an avenue to showcase the NSE and its partners’ commitment to supporting the aspirations of women and girls as essential ingredients for building a more sustainable world.
General
NUPRC Probes Gas Bubbling in Bille Community in Rivers
By Aduragbemi Omiyale
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced an investigation into a gas bubbling incident in Bille community in Rivers State, but preliminary “deductions and field observations indicate that the gas bubbling may be associated with a subsurface phenomenon that could be linked to a variety of triggers.”
In a statement signed by its chief executive, Mrs Oritsemeyiwa Eyesan, on Thursday, the agency said it was worried about the unfortunate incident, assuring residents that efforts are being made to address the issue.
The commission acknowledged the concerns the “unsavoury development has raised in relation to public safety, the environment, and the health of the populace,” stressing that, “The overall well-being of our communities and the protection of the environment remain paramount to the commission, as they are to government.”
It stated that, “Upon notification of the incident, the commission activated a coordinated technical investigation process in line with established regulatory protocols to assess the nature and extent of the gas seepage, identify source(s) and potential cause(s), and propose immediate and long-term mitigation measures.”
“The investigative study is being conducted in collaboration with stakeholders to ensure comprehensive, fact- based outcomes for long-term sustainability,” it added.
“Detailed geotechnical and geological analyses are ongoing to determine the contributing factor(s) and possible remedies for prompt implementation,” the statement further said.
“The commission assures the Bille community of its resolve to ensure that necessary actions required to address the situation are taken in line with applicable regulations, industry standards and global best practices.
“Once again, the commission commiserates with the Bille community as we work assiduously with all stakeholders to unravel the incident, and enjoins members of the community to maintain the commendable level of responsibility whilst adhering to all safety measures and public health advisories issued by the relevant authorities,” the statement disclosed.
General
Akwa Ibom Denies Plan to Sell Ibom Power Company
By Adedapo Adesanya
The Akwa Ibom State Government has dismissed claims that it plans to sell Ibom Power Company, describing the allegation as false and reaffirming its commitment to reviving the state-owned electricity asset through debt repayment and structural reforms.
In a statement issued on March 18, the Commissioner for Information, Mr Aniekan Umanah, said a report by a Uyo-based tabloid alleging plans to dispose of the company was “a wicked fabrication” that should be disregarded.
“At no time has the government approved the sale of Ibom Power Company as scrap or otherwise,” the statement said, adding that such claims exist only in the “imagination of mischief-makers intent on misleading the public.”
Instead, the government said it is focused on stabilising the company’s operations by clearing legacy debts, including a $9 million facility obtained from Afreximbank several years ago.
According to the statement, Governor Umo Eno approved a structured quarterly repayment plan of $560,000 beginning March 15, 2025, aimed at gradually liquidating the loan.
The government described the move as part of broader efforts to “rescue and reposition Ibom Power Company for sustainable operations,” stressing that the approach reflects a commitment to “revival, stability, and long-term value preservation, not liquidation.”
Beyond debt repayment, the state also outlined ongoing electricity sector reforms anchored on a Private Sector Participation (PSP) framework designed to attract investment while retaining public ownership of assets.
Under the initiative, the government said it has established key institutions, including the Akwa Ibom State Electricity Regulatory Commission and Ibom Electricity Holdings Limited, to strengthen oversight and coordinate state-owned electricity assets. Shares of the holding company have also been vested in the Akwa Ibom Investment Corporation.
The concession model being introduced will allow qualified private operators to rehabilitate, finance, and manage electricity infrastructure over a defined period, with strict performance benchmarks and regulatory supervision.
The government said the framework is structured to ensure that “the State will retain ownership and strategic control of all electricity assets,” while transferring operational and commercial risks to private sector participants.
It added that the reform programme is expected to improve reliability, resolve longstanding challenges, and promote a more efficient electricity market without placing additional fiscal pressure on the state.
On recent power outages across parts of Akwa Ibom, the government noted that electricity transmission and distribution currently fall outside its direct control. However, it said efforts are ongoing to engage relevant authorities to address the disruptions and improve supply.
The statement also criticised the publication that carried the initial report, accusing it of spreading misinformation and warning that “government’s measured silence should not be mistaken for weakness,” citing existing laws on libel and defamation.
General
Eid-el-Fitr: Gaya Urges Prayers Against National Challenges
By Modupe Gbadeyanka
Nigerians have been urged to use the occasion of Eid-el-Fitr to intensify prayers against the challenges confronting the nation.
This appeal was made by the independent non-executive director of the Nigeria Sovereign Investment Authority (NSIA), Mr Abdullahi Mahmud Gaya.
Mr Gaya described the current situation in the country as a test of citizens’ spiritual resolve and faith, tasking Muslims to reflect on the deeper significance of Eid-el-Fitr, noting that the festival symbolises sacrifice, obedience to Allah, and compassion for the less privileged.
“Every Muslim finds joy in observing the Ramadan fast, a fundamental obligation in Islam. We should not lose sight of the lessons it teaches: obedience to Allah, sharing our blessings with the needy, and being our brother’s keeper,” he said in a statement issued by his media assistant in Kano.
Speaking on the forthcoming general elections, Mr Gaya advised the electorate to vote for selfless leaders committed to national service and the welfare of Nigerians, describing the polls as a choice between progress and regression, stressing the need for voters to support candidates with verifiable achievements rather than empty promises.
He also urged Nigerians to remain mindful of their civic responsibilities by choosing leaders who demonstrate integrity, sincerity, and dedication.
According to him, the country’s future depends on the electorate exercising their voting rights wisely to elect leaders who understand the responsibilities of public office and approach them with humility, competence, and genuine commitment to service.
Mr Gaya expressed gratitude to Almighty Allah for His mercies and felicitated with the people of Ajingi, Gaya, and Albasu Local Government Areas, as well as Governor Abba Kabir Yusuf and Nigerians at large, on the successful completion of the Ramadan fast.
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