It is in that context that Union Bank of Nigeria has built its corporate social responsibility agenda around one of its major pillars – education. The thinking is not that a bank can fix Nigerian education, but that a bank has both the reach and the long-term interest to contribute meaningfully to it.

THE SCOPE OF THE WORK

Union Bank’s education work runs through Edu360, a platform that gathers the Bank’s various school, teacher, and youth interventions under one roof. Three threads run through it.

The first is teacher development, anchored by the Bank’s partnership with the Maltina Teacher of the Year (MTOTY) programme, which recognises and rewards classroom excellence. Teachers are the highest-leverage point in any education system and supporting the people who already do the work well tends to produce more durable gains than one-off interventions with students alone.

The second is practical, future-facing learning. School hackathons supported by the Bank give students the chance to work in teams, tackle real problems, and encounter technology as something they can build with rather than simply consume. For young people who may otherwise meet computing only as a subject on a timetable, that shift in posture matters.

The third is financial literacy, delivered through outreach tied to globally recognised events like World Savings Day and Financial Literacy Day. The premise is straightforward: habits formed early outlast lessons learned late. A student who understands saving, budgeting, and the basic mechanics of a bank account at fourteen, carries that understanding into adulthood, regardless of which institution they eventually bank with.

Beyond these threads, Edu360 has anchored long-running partnerships with educational institutions outside the Bank. One of the most established was with Greensprings School in Lagos, where Union Bank sponsored eleven consecutive editions of an annual football academy that pairs sport with leadership development for children aged five to seventeen, run alongside coaches from West Bromwich Albion Football Club. Reflecting on the partnership at the close of the 2025 edition, the school’s founder and chief executive, Mrs Lai Koiki, put it plainly:

“We are being future-ready, we are preparing the youth for the future.”

It is the kind of unadorned framing that the Edu360 intervention tends to invite from the people closest to it.

The work is mapped to Sustainable Development Goals 4 and 8, which deal with quality education and decent work, but the more useful test is whether the interventions show up in the lives of the people they are meant to serve.

A MORNING AT EBUTTE ELEFUN

That test is easier to apply at the level of a single school.

As part of its back-to-school programme this year, Union Bank visited Ebutte Elefun High School in the Lafiaji Ward community on Lagos Island, distributing school bags and learning materials to hundreds of students. The contribution was funded and delivered by the Bank.

Present at the school that day was the Bank’s Chief Financial Officer, Oluwagbenga Adeoye, who attended the school as a boy. His role during the visit was personal, rather than operational. He spoke to the students about his own journey from those classrooms to the office he now holds, took their questions, and stayed to meet teachers. For students who rarely encounter senior professionals in person, the conversation was as much a part of the day as the supplies.

Outreaches of this kind are modest in scale. Distributing hundreds of bags does not transform a school system, and Union Bank does not claim that they do. What they do is reduce friction at a moment – the start of a school year, when small financial pressures can quietly push children out of consistent attendance. They also send a signal, both to the students and to the teachers around them, that someone outside the school gates is paying attention.

WHY A BANK, AND WHY EDUCATION

There is a reasonable question about why a financial institution should be in this work at all, and it deserves a direct answer rather than a sentimental one.

A bank’s long-term performance is bound up with the financial health of the households and small businesses around it. Children who stay in school longer earn more, save more, and are more likely to use formal financial services when they do. Teachers who feel supported, produce students who can read a contract, manage a budget, and start a business. None of this is altruism dressed up as strategy; it is simply the recognition that a bank’s commercial future and the country’s educational present are connected.

That recognition shapes how Union Bank approaches the work. Programmes are run with partner organisations that have deeper roots in the communities than any bank can claim on its own. Interventions are chosen for whether they address a real constraint, not whether they photograph well; and inclusion is treated as a discipline rather than a slogan, with specific work supporting girls, underserved learners, and students with disabilities.

THE HONEST LIMITS

It is worth naming what corporate education work cannot do. It cannot replace public investment, fix curriculum gaps, or compensate for the structural challenges facing Nigerian schools. A back-to-school outreach addresses access at a moment; it does not address learning outcomes over a year. A hackathon introduces students to technology; it does not, on its own, build a pipeline into the digital economy. Financial literacy sessions plant seeds; whether those seeds grow depends on what happens in the years that follow.

Union Bank of Nigeria is candid about this internally, and the structure of Edu360 reflects it.

The platform is designed to keep the Bank engaged with the same schools and communities over time, rather than rotating through one-off events. Whether that consistency translates into measurable shifts in attendance, completion, and downstream economic participation is the question the Bank itself is most interested in answering, and the next phase of the work is increasingly oriented around tracking it.

A QUIETER KIND OF CORPORATE CITIZENSHIP

There is a tendency, in Nigerian corporate communications, to describe CSR interventions in language larger than the work itself. Union Bank’s education programme is not transformational in any single year. It is steady, locally grounded, and built on the recognition that education is a long game in which banks are one of many players.

Ebutte Elefun is a useful illustration of the posture.

A school on Lagos Island. Hundreds of students started the year with what they needed. A senior executive who walked back into the corridors he once knew, not to take credit but to remind a room full of teenagers that the distance between where they sit and where he sits is shorter than it looks.

That, more than any platform name or programme title, is what corporate responsibility in education looks like when it is taken seriously.

Show up. Stay. Build the systems that let the showing-up scale, and measure honestly in years, rather than headlines, whether it works

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Nigeria’s ambition to end decades of dependence on imported petroleum products is gathering pace as Waltersmith Petroman Oil Limited steps into petrol production, marking a pivotal shift in the country’s refining ecosystem.

The indigenous oil firm has doubled the capacity of its refinery located in Ibigwe, Imo State, from 5,000 barrels per day (bpd) to 10,000 bpd following the successful completion of its Phase 2 expansion project. The upgrade signals a transition from limited modular refining to a more commercially competitive operation capable of supplying critical fuel products to the domestic market.

With the expansion, Waltersmith is set to commence the production of Premium Motor Spirit (PMS), widely known as petrol, alongside Aviation Turbine Kerosene (ATK). This development broadens the refinery’s output beyond earlier products and positions it to serve both Nigeria’s road transport and aviation sectors—two high-demand segments that have historically relied heavily on imports.

Energy analysts say the move reinforces Nigeria’s strategic push toward local refining, value addition, and energy security, especially at a time when foreign exchange pressures continue to impact fuel importation.

Regulatory Clearance Nears

The refinery’s readiness for full commercial operations is currently undergoing final regulatory scrutiny by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in collaboration with the Nigerian Content Development and Monitoring Board.

During a recent inspection visit to the facility, the former NMDPRA Chief Executive, Engr. Saidu Mohammed, expressed satisfaction with the level of compliance and operational preparedness observed at the plant. He described the project as a strong testament to the growing technical and investment capacity of Nigerian companies in the oil and gas midstream sector.

Industry insiders indicate that the issuance of a Licence to Operate (LTO) is imminent, paving the way for Waltersmith’s full-scale entry into the petrol market.

Industrialisation Beyond Refining

Chairman of Waltersmith, Abdulrazaq Isa, emphasised that the expansion represents more than an increase in refining capacity. According to him, it is part of a broader strategy aimed at repositioning Nigeria from a crude oil export-dependent economy to one driven by industrialisation and value creation.

He disclosed plans for the development of the Waltersmith Industrial and Innovation Park, a Free Trade Zone anchored on gas-to-power infrastructure. The proposed hub is expected to attract petrochemical, manufacturing, and energy-based investments, aligning with Nigeria’s “Decade of Gas” agenda.

“This is about building an integrated energy and industrial ecosystem that creates jobs, drives innovation, and supports long-term economic growth,” Isa noted.

Strategic Partnerships Power Expansion

The refinery’s growth has been supported by strong institutional backing. The NCDMB holds a 30 per cent equity stake in the project, while financing has been provided by the Africa Finance Corporation and the Bank of Industry.

These partnerships have not only enhanced project execution but also strengthened local content development and job creation across the oil and gas value chain.

A Competitive Shift in Nigeria’s Refining Landscape

Waltersmith’s entry into petrol production comes at a time of heightened activity in Nigeria’s refining sector, with the Dangote Refinery—owned by Aliko Dangote—continuing to scale operations and expand capacity.

The emergence of multiple local refiners is expected to reshape market dynamics by increasing supply, fostering complementarity, and potentially stabilising fuel prices over time.

Experts believe that as more modular and large-scale refineries come on stream, Nigeria could significantly cut its fuel import bill, conserve foreign exchange, and strengthen its energy independence.

For a country long burdened by the paradox of exporting crude while importing refined products, Waltersmith’s latest milestone may signal the beginning of a new era—one defined by domestic capacity, industrial resilience, and a more competitive downstream oil sector.

Waltersmith Refinery expands capacity to 10,000bpd and begins petrol production, signalling increased team up with Dangote Refinery and boosting Nigeria’s push for energy independence.

The company doubles refinery capacity to 10,000bpd, launches petrol and aviation fuel production, and strengthens Nigeria’s drive toward local refining, energy security, and reduced fuel imports.

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Speculations about Obi’s possible defection have intensified following the recent Supreme Court judgment that ended the prolonged leadership crisis within the ADC. Although no official confirmation has been issued by Obi or his camp, some political observers believe he may be weighing a move to the NDC in the wake of the ruling.

In a post on his X handle on Saturday, Ahmad suggested that such a move, if true, would reflect an attempt to avoid internal party competition.

“Reports and indications suggest that Peter Obi and his blind supporters are reconsidering another political move away from their current platform, the ADC,” he wrote.

“The question here is whether Peter is leaving to escape standing against other aspirants within his party. It is the same path he once embraced in 2022 leading to the 2023 presidential election,” he added.

He further argued that party primaries remain a key test of democratic strength and leadership credibility.

“If a political figure appears so afraid to test their popularity within their own party structure, it naturally leads to questions about how they intend to build the broad national consensus required to lead a country as diverse and complex as Nigeria,” Ahmad stated.

He maintained that internal party contests are fundamental to democracy, adding that difficulty in competing within a party raises broader questions about national leadership capacity.

“Party primaries are a fundamental pillar of democracy. If Peter struggles to compete fairly among fellow aspirants within his party, it becomes difficult to convincingly argue that he can unify and lead an entire nation with diverse interests and strong political contenders,” he said.

As of the time of filing this report, Peter Obi has not publicly reacted to the defection speculation.

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Governor Francis Nwifuru announced the decision shortly after a stakeholders’ consultative meeting held in Abakaliki, describing the move as a product of extensive engagement within the party.

Addressing journalists at the Government House, Ochudo Centenary City, the governor said the meeting was convened to deliberate on key party issues and to chart a unified course toward the next elections.

“As the leader of the party, we convened a meeting of stakeholders and deliberated on issues concerning our party,” Nwifuru said, noting that the outcome reflected a collective agreement among members.

Briefing journalists after the meeting, former Senate President and former Secretary to the Government of the Federation, Senator Anyim Pius Anyim, said the consensus arrangement followed wide-ranging consultations initiated by the governor.

He explained that the process began about a week earlier when the governor notified stakeholders of plans to hold joint consultative meetings across the state.

According to Anyim, the consultations culminated in a broader stakeholders’ session where outstanding issues were resolved, leading to agreement on candidates for all elective positions.

“For the first time in the history of the state, stakeholders, electorates and party members were fully involved in selecting those who will fly the party’s flag,” he said.

He described the meeting as productive, adding that participants unanimously endorsed the consensus approach as the best option for party cohesion and governance.

Anyim said the decision implies that there will be no contest for party tickets in any constituency in the state.

“The implication is that there is no constituency that is going to be contested because we have reached consensus on all elective offices,” he said.

He commended the governor’s leadership style, attributing the outcome to his consultative approach and ability to unify party stakeholders.

The former Senate President expressed confidence that the inclusive process would enhance the party’s chances in the 2027 general elections.

“Because the people are part of the process, the election will be easier for us to win,” he added, assuring that party members across the state would mobilise support for APC candidates.

He also disclosed that the names of the consensus candidates for various positions would be released in a formal statement.

The stakeholders’ meeting, which began at about 4:00 p.m., ended late in the evening after deliberations on party strategy and candidate selection.

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In a statement issued on Friday, MURIC’s Executive Director, Ishaq Akintola, said the project reportedly being undertaken alongside the Christian Association of Nigeria, CAN,raises concerns about equitable treatment of religious groups in the country.

The group also criticised what it described as uneven distribution of relief funds, citing the reported allocation of N2 billion to victims of violence in Plateau State without similar interventions in other affected states, including Borno, Sokoto, Zamfara, Kebbi and Kwara.

MURIC further questioned reports that N1.2 billion was shared among the 19 northern states ahead of the Eid al-Kabir celebration, describing the figure as disproportionate when compared to the Plateau intervention.

“How can only one state be given N2 billion while all the 19 states in the North are asked to share N1.2 billion? But is it right to treat Muslims like second class citizens, animal farm?” the statement read.

The organisation also called on the federal government to provide clarity on plans for Muslim religious infrastructure, urging authorities to ensure parity.

“So we must ask federal government to tell Nigerians when land of equal size will be given to the Muslims to build their grand national mosque. Of course federal government must not forget the N25 billion cooling off somewhere in the Central Bank which will accompany the land allocation for Muslims,” the group added.

MURIC urged the government to uphold fairness and inclusivity in its policies, warning that perceived imbalance could heighten religious sensitivities.

As of the time of filing this report, there has been no official response from the federal government or CAN regarding the allegations.

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The decision was announced in a statement issued by the Secretary to the State Government, Yakubu Bala Tafida, who said the action was taken after deliberations at a State Executive Council (SEC) meeting. He explained that the move was based on recommendations contained in the report of a visitation panel set up by the government to review the university’s operations.

Those affected by the decision include two Deputy Vice Chancellors in charge of Academic and Administration, as well as the Registrar and the Bursar.

In a related development, the government approved the dissolution of the university’s Governing Council, also in line with the panel’s recommendations.

To ensure continuity in the administration of the institution, the state government appointed Prof. Sama’ila Arzika Mungadi as the Sole Administrator of AFUSTA with immediate effect from April 30, 2026.

The government did not provide further details on the specific findings of the panel but reiterated its commitment to repositioning the university for improved efficiency and academic excellence.

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The union made the appeal during the 2026 International Workers’ Day celebration held in Bauchi, organised jointly with the Trade Union Congress (TUC).

The State NLC Chairman, Dauda Shuaibu, said retirees who served the state for up to 35 years deserve to leave service with dignity, stressing the need to clear the backlog of unpaid gratuities.

He also urged the government to commence the allocation of houses built under the Civil Servants Housing Scheme to prevent deterioration, noting that the approaching rainy season and windstorms could damage the structures if they remain unoccupied.

Shuaibu further appealed for the provision of two 18-seater buses to support the operations of the NLC as a coordinating body for over 40 affiliate unions in the state.

On workers’ welfare, the union called for the resumption of the leave transport grant, describing it as a statutory entitlement that supports workers’ wellbeing and productivity.

It also urged the reactivation of motorcycle and car loan schemes to improve workers’ mobility.

The NLC raised concern over the non-remittance of deductions to the Federal Mortgage Bank of Nigeria, stating that the development has denied workers access to housing loans. It called for an immediate refund and the resumption of remittances.

The union also demanded the extension of the full implementation of CONHESS and CONMESS salary structures to workers at the local government level to address disparities, as done for state health workers.

In addition, it called for the resolution of outstanding issues in the implementation of the Contributory Pension Scheme to ensure a smooth rollout.

While highlighting its demands, the NLC commended the state government for approving the recruitment of 10,000 workers, implementing the contributory health scheme, paying the new minimum pension, and supporting progress on the construction of a Labour House, which it said has reached about 30 per cent completion.

Responding, Governor Bala Mohammed, represented by his deputy, Muhammad Auwal Jatau, assured workers that his administration is committed to clearing all outstanding gratuities before the end of its tenure.

He said the government has continued to prioritise workers’ welfare despite economic challenges, citing the implementation of the N70,000 national minimum wage and reforms in the payroll system to enhance transparency and eliminate leakages.

The governor also reaffirmed his administration’s commitment to civil service reforms, including merit-based promotions, improved service delivery, and better working conditions, adding that ongoing recruitment and strategic deployment of personnel are aimed at boosting efficiency across key sectors.

Also speaking, the Head of Civil Service, Mohammed Sani Umar, commended the governor for sustaining the N70,000 minimum wage and the N32,000 minimum pension for retirees.

He noted that the government has introduced several welfare measures, including work-free days for junior officers during the farming season, provision of subsidised agricultural inputs such as fertiliser loans, and distribution of palliatives during periods of economic hardship.

Umar added that the 2025 recruitment exercise has strengthened the capacity of the civil service and created employment opportunities for youths, while various training programmes have been organised to improve the skills of workers across all cadres.

He said ongoing reforms, including the introduction of a credible nominal roll system, merit-based promotions, and strategic deployment of officers, have improved transparency, accountability, and service delivery across ministries, departments, and agencies.

He urged civil servants to reciprocate government efforts through dedication, discipline, and adherence to public service rules, stressing that efficient service delivery is key to tackling poverty and insecurity in the state.

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The Federal Executive Council (FEC) gave the approval of three major rail infrastructure projects valued at $2.99 billion.

Minister of Finance and Coordinating Minister of the Economy, Prof. Taiwo Oyedele, who confirmed this noted that the projects have already been captured in the extended 2025 budget and are expected to strengthen the capital component of the overall investment framework.

According to him, The Federal Executive Council approved three transformative rail project and these are Lagos Green Line, Kano state metro city rail project and Kaduna State Rail project. The projects are to be sponsored by the Ministry of Finance incorporated.”

The Lagos Green Line is expected to complement existing urban rail initiatives in Lagos, Africa’s largest city, while the Kano and Kaduna rail projects are projected to boost commercial activity in northern Nigeria by improving passenger and freight movement.

The FEC also approved the resolution of the concession dispute surrounding the Murtala Muhammed Airport Terminal Two (MM2) in Lagos, alongside the establishment of a Nigerian aircraft leasing company to support local airlines.

Minister of Aviarion and Aerospace Development, Festus Keyamo, said that approval were given to two major memos presented by the Aviation Ministry, describing both decisions as “significant milestones” for the sector.

The Minister disclosed that the federal government has finally settled the over 20-year dispute with Bi-Courtney Aviation Services Limited, owned by renowned businessman, Wale Babalakin, over the MM2 concession.

According to him, the dispute, which spanned multiple administrations, involved several contentious issues, including the control of the domestic terminal (MM1), financial claims against the government, and exclusivity rights.

“As you all know, there has been a long-standing dispute between the concessionaire and the federal government over MM2. Today, I can happily tell you that this government has resolved that issue once and for all”.

He explained that one of the major sticking points was a Supreme Court judgment which awarded Bi-Courtney N132 billion in damages, with interest accruing from 2009.

Keyamo, however, revealed that the concessionaire agreed to waive the claim as part of the negotiated settlement.

“The first thing we told him was to write off the N132 billion plus interest. Nobody is going to pay that, and he agreed and wrote it off,” the minister stated.

He added that Bi-Courtney also relinquished its claim to the Murtala Muhammed Airport Terminal One (MM1), which it had argued was included in the original concession agreement.

“We told him to hand back the local airport (MM1) to the federal government. We cannot leave the entire domestic aviation operations in Lagos in private hands. He agreed,” Keyamo said.

On exclusivity, the minister said the clause granting Bi-Courtney sole rights to operate a private airport within Lagos was also removed.

“That clause was not right, even for security reasons. He agreed, and we removed it,” he added.

The federal government, on its part, agreed to restore ownership of the long-abandoned Hotel and Conference Centre opposite MM2 to the concessionaire.

Keyamo said the facility, whose construction had stalled for years, must now be completed within two years.

He said: “We gave it back to him to complete and run on a shared basis with the federal government. He has 24 months to deliver it. We will not tolerate further delays”.

He further disclosed that the government will permit regional flight operations from MM2 and expand the terminal’s apron to accommodate more aircraft.

The Minister noted that the new agreement would also ensure that the federal government begins to earn revenue from MM2 operations, which had not been the case during the dispute period.

“At the end of the day, it was give and take. He made concessions, and we also made concessions. Both sides benefitted,” Keyamo said.

He added that a formal signing ceremony involving all stakeholders would be held in Lagos, where full details of the agreement would be made public.

Keyamo also announced that FEC approved the establishment of a Nigerian aircraft leasing company, structured as a Special Purpose Vehicle (SPV), to be driven by private sector investment.

He described the initiative as a “game changer” aimed at addressing the persistent challenge of access to aircraft by Nigerian airlines.

“The major problem of private operators in Nigeria has been access to aircraft and equipment. Nigeria is unique because our aviation industry is almost entirely run by the private sector,” he said.

The Minister explained that the new leasing company would aggregate aircraft for local airlines, reducing their dependence on foreign lessors and improving operational stability.

“Instead of airlines going all over the world looking for aircraft, there will now be a local platform to lease aircraft on both short-term and long-term basis,” he said.

Keyamo noted that many Nigerian airlines currently struggle with leasing arrangements, leading to frequent flight delays and cancellations.

“Some aircraft come into the country and within three months they are gone because operators cannot meet lease obligations.

That is why you see disruptions”.

He clarified that the federal government would not directly fund the leasing company but would provide guarantees to support lease financing and aircraft repossession.

“The role of government is to guarantee the leases. We are not putting in funds, but we will have equity in the company and earn returns,” the Minister explained.

He disclosed that several major African and international investors have already expressed interest in the project, citing Nigeria’s large aviation market and strategic location.

“Investors are already chasing us. We have the market, the traffic, the population and the routes. This is the Nigerian aviation franchise we are selling to the world,” he said.

He said the President has directed the Minister of Aviation to work with the Ministers of Finance, Justice, and Trade and Investment to finalise the structure of the SPV.

Keyamo expressed optimism that the initiative would significantly boost the capacity of Nigerian airlines to compete with foreign carriers, which currently dominate about 95 per cent of international traffic to and from Nigeria.

“This is a major step towards empowering our local airlines to take back their market share. In the next few months, Nigerians will begin to see the impact.”

Also, Information and National Orientation Minister, Mohammed Idris, and his Works counterpart, David Umahi, outlined a set of decisions by the Federal Executive Council (FEC), including the creation of a Presidential Task Force on Power Sector Reform, key federal appointments, and approvals for major road projects nearing completion.

Idris said the Council’s decisions were anchored on a renewed push to reposition the power sector and accelerate infrastructure delivery nationwide.

He disclosed that the Council approved the appointment of a Special Adviser on Power to the President and endorsed the establishment of a high-level task force to drive comprehensive reforms in the electricity sector.

According to him, the decisions followed the submission of a report by a presidential committee set up on March 4 to review the commercial and institutional framework for the proposed Grid Asset Management Company (GAMCO).

Idris said President Tinubu approved the appointment of former Minister of Power, Lanre Babalola, as Special Adviser on Power to strengthen coordination and policy oversight in the sector.

He added that the newly created Presidential Task Force on Power Sector Reform would be chaired by the President, with Babalola serving as a key member.

“The task force is part of renewed efforts by the administration to reposition the power sector as a critical driver of industrialisation and economic growth,” he said.

Membership of the task force includes the Minister of Finance and Coordinating Also speaking, the Minister of the Economy, Minister of Power, Minister of State for Petroleum Resources (Gas), Minister of Industry, Trade and Investment, Minister of Information and National Orientation, and the Attorney-General of the Federation and Minister of Justice.

Others are the Chairman of the Nigerian Electricity Regulatory Commission (NERC), as well as representatives of electricity generation and distribution companies.

The Minister noted that the committee would focus on implementing far-reaching reforms to address longstanding structural challenges, stressing that stable electricity supply remains central to Nigeria’s economic prosperity.

He added that the government was committed to a total overhaul of the sector to unlock industrial growth and improve the quality of life for Nigerians.

Idris also disclosed that the FEC meeting was preceded by the swearing-in of a National Commissioner of the Independent National Electoral Commission (INEC) and four Permanent Secretaries.

“The President today performed the swearing-in after her clearance by the National Assembly as a National Commissioner of INEC in person of Rear Admiral K. M. Marafa (rtd).

He added that the Council deliberated on a 32-point agenda and formally welcomed the newly appointed Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, to his first FEC meeting.

“Let me unveil to you for the first time at the FEC meeting, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, who is joining us for the first time. Welcome to the Federal Executive Council,” he said.

Commenting on nation’s infrastructure, Umahi defended the cost of ongoing and newly approved road projects, insisting that they reflect value for money despite rising construction costs.

“When people talk about cost, we must look at unit pricing and quality. What we are doing now is cheaper and far more durable than what was done years ago”.

He explained that the administration has standardised the use of continuously reinforced concrete pavement (CRCP) for federal highways, describing it as more durable and cost-effective over time.

According to him, several newly approved projects average about N3.2 billion per kilometre, even amid increases in cement prices.

Umahi disclosed that 10 major projects approved by FEC are spread across the country and structured to maximise economic returns while addressing long-standing infrastructure gaps.

He said flagship projects such as the Sokoto-Badagry Super Highway and Lagos-Calabar Coastal Highway are being executed using concrete technology, while key legacy corridors are being expanded to improve connectivity.

The minister cited the Akwanga-Jos-Bauchi road, now extended to link Gombe, Yobe and Borno states, bringing its total stretch to about 700 kilometres.

On the Carter Bridge in Lagos, Umahi said structural assessments confirmed that the facility could not be salvaged, prompting approval for a complete reconstruction.

“This is not just rehabilitation. It is a complete rebuilding to modern standards,” he said.

He added that the government is leveraging alternative financing models, including tax credit schemes and tolling, to ensure sustainability.

“This is infrastructure as investment, not just expenditure”.

Umahi further disclosed that several completed projects are ready for commissioning, including sections of the Abuja-Kaduna highway, as well as key routes in the South-South and coastal corridors.

According to him, segments of the Kano-Jigawa and Suleja-Minna roads have been completed, with the Azeri section of the Kano–Jigawa corridor, spanning about 37 kilometres, fully delivered and awaiting inauguration.

He attributed the scale and pace of infrastructure delivery to President Tinubu’s hands-on approach to governance.

“Mr President is extremely detailed. Every item is interrogated. That is why we can confidently say Nigerians are getting value,” Umahi said.

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The OPEC’s medium-term outlook into 2026–2027 continues to emphasize the need for sustained upstream investment to offset natural field decline and ensure long-term supply adequacy. While oil demand growth is increasingly concentrated in Asia and emerging markets, Africa’s role as both a producing region and a demand growth frontier is becoming more pronounced in global energy forecasts.

The organization is also placing greater emphasis on the role of gas and integrated energy systems in supporting long-term energy security.

This aligns with Africa’s own LNG expansion trajectory, with major developments underway in Mozambique, Mauritania-Senegal and across West and North Africa, where new projects are gradually reshaping the continent’s export capacity.

The OPEC Secretary General Haitham Al Ghais will address AEW 2026 in Cape Town, bringing one of the most influential voices in global oil governance into direct engagement with Africa’s leading producers, investors and policymakers.

At AEW 2026, Al Ghais is expected to engage in high-level discussions around market stability, investment requirements and Africa’s long-term production outlook, as global producers seek to balance security of supply with capital discipline in a more complex geopolitical environment.

His participation comes as global oil markets continue to adjust to evolving geopolitical dynamics, OPEC+ supply management decisions and shifting demand patterns across emerging economies. With spare capacity closely managed and production discipline remaining a central feature of market coordination, OPEC continues to play a stabilizing role in global energy markets.

OPEC+ – which accounts for roughly 45 per cent of global crude oil supply – has maintained a cautious production approach into 2026, prioritizing market stability alongside broader considerations of global demand trends and economic growth trajectories. At the same time, energy security has returned to the forefront of policy discussions across both producing and consuming countries, reinforcing the importance of predictable and well-coordinated supply frameworks.

Within this environment, Africa remains structurally important to OPEC’s evolving outlook. The continent is home to key member states including Nigeria, the Republic of Congo, Equatorial Guinea, Algeria, Gabon and Libya, each playing a distinct role in the organization’s broader production and investment framework.

Nigeria, OPEC’s largest African producer, continues to pursue upstream reforms under the Petroleum Industry Act, alongside efforts to revitalize key assets such as the Niger Delta Joint Venture portfolio and deepwater developments like Bonga North, aimed at stabilizing output and improving investment conditions after years of volatility.

The Republic of Congo is steadily expanding offshore production through developments in the Moho Nord extension and Marine XII projects in partnership with international operators, while Equatorial Guinea is advancing LNG and gas monetization anchored by the Punta Europa LNG complex and the Gas Mega Hub strategy.

In Libya, production recovery efforts continue around key fields in the Sirte Basin as operators work to restore output stability, while Algeria is maintaining investment momentum through gas developments led by Sonatrach, particularly around its Hassi R’Mel expansion and LNG export infrastructure. Gabon, meanwhile, is focusing on sustaining offshore production through redevelopment of mature fields and broader partnerships aimed at improving recovery rates and extending asset life.

“Africa is not operating at the margins of global energy markets – it is central to their stability, resilience and future balance,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Having Secretary General Haitham Al Ghais at African Energy Week reflects the reality that today’s energy challenges cannot be solved without Africa at the table, shaping the conversation on supply, investment and long-term security.”

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Net Expenses on Reinsurance Contracts stood at ₦109.3 million, representing a decline of approximately 162.6% from ₦174.7 million recorded in March 2025. This movement reflects a more conservative risk transfer approach, as the Company strengthened its reinsurance cover to mitigate exposure to emerging risks and high value claims within the market.

Insurance Service Expenses rose significantly by about 803% to ₦850.1 million, compared to ₦94.1 million in March 2025. This sharp increase was largely driven by the settlement of a cluster of high value industry claims, which the Company honoured promptly and responsibly. These claims, arising from unforeseen risk events, placed considerable pressure on earnings, affecting both top line efficiency and bottom line performance, and resulting in a loss for the period. Total Assets grew by 6.9 per cent to ₦7.75 billion, supported by strong investment performance. Investment Properties increased by 29.5 per cent to ₦1.11 billion, driven by favourable revaluations and portfolio optimisation.

Ademola Abidogun, Managing Director/Chief Executive Officer, Guinea Insurance PLC commented: “While the period under review reflects a temporary setback in profitability, it is important to emphasise that the fundamentals of our business remain sound. The claims experience recorded is reflective of broader industry trends rather than isolated to Guinea Insurance. We made a conscious decision to settle all valid claims promptly, reinforcing our commitment to trust, reliability, and customer confidence. We are confident that our strengthened risk management framework, disciplined underwriting approach, and enhanced reinsurance programme will position the Company for a strong rebound in subsequent quarters. Our focus remains on delivering sustainable value to shareholders while upholding our promise to policyholders.”

Looking ahead, the Company remains cautiously optimistic. Management has initiated targeted recovery measures, including tighter cost management, portfolio rebalancing, and a renewed focus on profitable business segments. These actions are expected to restore earnings momentum and reinforce the Company’s competitive position within the Nigerian insurance market.

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