General
Women Can’t Help in Nation-Building if Excluded by Law, Cultural Practices—Johnson
By Aduragbemi Omiyale
The chairman of Guinness Nigeria Plc, Mrs Omobola Johnson, has lamented the imbalance in female representation in all facets of life, warning that it could hinder women from being part of nation-building.
She said this on Wednesday, March 2, 2022, when the Nigerian Exchange (NGX) Limited hosted a digital closing gong ceremony to celebrate the accomplishments of female chairpersons of NGX listed companies and their affiliates who were appointed in 2021.
The event was organised in line with the exchange’s ongoing collaboration with the International Finance Corporation (IFC) which aimed to reduce the gender gaps in leadership, employment, and entrepreneurship under the Nigeria2Equal programme.
In her presentation, the businesswoman said, “It is quite ironic that we are celebrating the advancements we have made in corporate governance a day after the National Assembly voted very strongly against a bill that was seeking to address the imbalance in female representation in all facets of our national life.”
“Building a greater nation requires all hands to be on deck. Women want to be partners and collaborators on this journey and we cannot be if we are excluded by law, cultural practices and norms,” she submitted.
In her remarks, the Chairperson of NGX Real Estate Limited, Mrs Angela Adebayo, appreciated the board of directors of the bourse for the laudable initiative.
She acknowledged the transition of NGX Group of Companies from a company with less than 30 per cent female representation on the National Council of the Nigerian Stock Exchange (NSE) to a group of four companies with two female Chairs.
She also commended NGX for its continuous efforts in collaborating with renowned organisations such as the IFC and leveraging its platform to make gender issues front and centre in the economic agenda.
On her part, Mrs Catherine Echeozo, Chairman of NGX Regulation Limited, acknowledged and congratulated the board chairperson appointees being celebrated, highlighting the benefits of diversity. “Diversity is about tapping on the full breadth and depth of talent available and equipping companies with diverse talents and viewpoints so that they can better navigate and address challenges in an increasingly complex and competitive global environment,” she stated.
Commenting on the opportunities that corporate organisations can leverage from promoting gender equality, the chairman of Ecobank Nigeria, Mrs Bola Adesola, stated that, “As a pre-eminent Pan-African institution in over 33 African countries, our focus on gender balance supports our mission to contribute to the economic and financial development of our continent.
“This is so because one in four Micro, Small and Medium Enterprises, in Africa is managed by a woman. Ecobank is very happy to continue to collaborate with NGX and IFC to Break the Bias. I would like to urge us all to diligently work against actions that threaten the human rights of half the population of our dear country.”
The Chairman of Access Bank Plc, Mrs Ajoritsedere Awosika, congratulated all the recent board appointees and highlighted the importance of celebrating female leaders as a critical step to inspiring younger professional women.
She said, “This closing gong ceremony is a laudable occasion where NGX has shown that evidently, there is a need to celebrate women in order for other women to come up.
“This celebration of women that NGX is implementing in partnership with IFC is going to go a long way to show other institutions the need to promote what is ongoing at all levels of human endeavour that women are actively getting into positions of service to make a positive difference.”
During his opening remarks, the CEO of NGX, Mr Temi Popoola, assured that the organisation will continue to provide the platforms to support issuers and market participants to achieve their gender goals and aspirations.
As for the Senior Country Manager for Nigeria, IFC, Mr Kalim Shah, the IFC will continue to invest in increasing women’s participation in corporate leadership, employment and entrepreneurship.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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