General
Theresa May Applauds Buhari’s “Successful Business Reform Agenda” in Nigeria
By Dipo Olowookere
British Prime Minister Theresa May has commended President Muhammadu Buhari of Nigeria for leading a successful business reform agenda in the Africa’s most populous nation.
Mrs May gave a pat on Mr Buhari’s back when both leaders met yesterday at 10 Downing Street, London.
Mr Buhari is among the leaders attending the Commonwealth Heads of Government Meeting (CHOGM) in London.
At the meeting on Monday, Mrs May “congratulated the President (of Nigeria) on leading a successful business reform agenda in Nigeria, noting that as the UK leaves the EU, our bilateral trade and investment relationship would continue to go from strength to strength.”
However, the British Prime Minister expressed concerns that “so many girls had been affected by the security situation in Nigeria.”
But she said the thoughts of the British people were with the girls and their families.
In a statement issued by 10 Downing Office, it was disclosed that during Monday’s meeting, both leaders “agreed that the UK and Nigeria were strong and enduring partners and that we would continue to champion our shared values of democracy, including the fight against corruption, and inclusive education.”
It was disclosed that, “They agreed our defence and security cooperation was close and longstanding, particularly on issues of regional security where we were working together to tackle the threat of Boko Haram and Islamic State West Africa, including through a new £1 million package of counter-IED equipment to protect troops and civilians in Nigeria.”
“They agreed on the importance of tackling climate change, and of fighting the scourge of modern slavery and discussed Salisbury and Syria, agreeing on the vital importance of upholding international norms against the use of chemical weapons,” the statement obtained by Business Post on Tuesday disclosed.
In 2017, the Mr Buhari-led administration launched the Economic Recovery and Growth Plan (ERGP), a Medium Term Plan for 2017 – 2020 developed for the purpose of restoring economic growth while leveraging the ingenuity and resilience of the Nigerian people – the nation’s most priceless assets.
In the second quarter of 2016, Nigeria slipped into an economic recession caused by many factors, including drop in oil prices in the global market as well as attacks on oil facilities in the oil rich Niger Delta region of the country, which dropped the level of production.
Worried that the economy was likely to remain on a path of steady and steep decline if nothing was done to change the negative trajectory, government came up with the ERGP to tackle the causes of the recession and ultimately change the national economic trajectory in a fundamental way.
The scheme led to different business reforms, improving the ease of doing business in Nigeria.
By Adedapo Adesanya
Three African subsidiaries of global advisory firm, PricewaterhouseCoopers (PwC), have been debarred by the World Bank Group for 21 months after being found guilty of manipulating procurement processes for a major cross-border electricity project.
In a statement on Wednesday, the Washington-based multilateral lender said PricewaterhouseCoopers Associates Africa Ltd, based in Mauritius, along with its Kenyan and Rwandan affiliates, engaged in “collusive and fraudulent practices” linked to the Eastern Electricity Highway Project, a flagship initiative to transmit hydropower from Ethiopia to Kenya.
The decision sidelines PwC from lucrative World Bank-funded projects on the continent, dealing a blow to one of the region’s most influential audit and advisory firms.
This development could reshape competition for high-value consulting work across emerging markets, potentially disrupting startups and tech firms reliant on World Bank funding, as scrutiny over governance and compliance tightens.
The World Bank, through its private sector arm, International Finance Corporation (IFC), offers grants and low-interest loans to startups across emerging markets.
Earlier this week, the IFC committed $20 million to invest in high-growth startups in Kenya, Nigeria, and South Africa.
“The debarment makes PwC Associates, PwC Kenya, PwC Rwanda, and any affiliates they control ineligible to participate in Bank Group-financed projects and operations,” the World Bank said. “It is part of a settlement agreement under which the three companies admit culpability for sanctionable practices.”
The determination was based on the company’s conduct between 2019 and the award of contracts for consultancy services and asset valuation work for the Ethiopian state power utilities.
According to the World Bank statement, the firm obtained confidential procurement documents to improperly influence the award of a contract for the implementation of International Financial Reporting Standards at the Ethiopian Electric Power Corporation.
They also attempted to steer a separate contract for a fixed asset inventory and revaluation for the power utility towards PwC Associates. During the bidding and execution of that contract, the bank found that the company misrepresented the availability and qualifications of key experts and failed to disclose the full list of subconsultants involved.
According to the World Bank, the debarment is shorter than would otherwise apply because PwC admitted misconduct. The advisory firm also agreed to a series of remedial measures, including internal investigations, disciplinary action against responsible staff, terminating relationships with all subconsultants involved, and additional staff training.
By Aduragbemi Omiyale
A Federal High Court in Warri, Delta State, has affirmed the right of Nigerians to film personnel of the Nigeria Police Force (NPF) on duty.
The judgment was given by Justice H. A. Nganjiwa on Tuesday in a case filed by Mr Maxwell Uwaifo in suit number FHC/WR/CS/87/2025.
The court held that Nigerians have the constitutional right to use any device to record police officers executing their official duties in public.
It was ruled that police officers must wear visible name tags, display their force numbers, and must not harass, intimidate, arrest, or seize devices from citizens documenting their activities.
The court awarded the applicant N5 million in damages for the violation of his fundamental rights and N2 million for the cost of litigation.
Business Post reports that the respondents in the case were the Inspector General of Police (IGP), the NPF, the Police Service Commission (PSC), and the Attorney-General of the Federation (AGF).
The lawyer filed the case in accordance with Sections 34, 35, 36, 37, 38, 39, 40, and 41 of the Constitution of Nigeria and others.
“This judgement has significant implications for policing standards, civil liberties, and public accountability across Nigeria,” Mr Uwaifo said after the judgement.
By Aduragbemi Omiyale
The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.
While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.
He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.
Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.
According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.
He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.
In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.
Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.
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