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SERAP Gives CBN Governor 7 Days to Explain Alleged Missing N3tn

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The Socio-Economic Rights and Accountability Project has issued a seven-day ultimatum to the governor of the Central Bank of Nigeria, Olayemi Cardoso, demanding a full account of what it described as “missing or diverted N3 trillion of public funds” highlighted in the 2022 annual report of the Auditor-General of the Federation. SERAP said the allegations, publicly reported on September 9, 2025, raise serious concerns about breaches of financial regulations, transparency rules and constitutional provisions that guide the management of public resources in Nigeria.

In a letter dated November 15 and signed by its deputy director, Kolawole Oluwadare, the organisation said the Auditor-General’s findings “suggest grave violations of the public trust, the provisions of the Nigerian Constitution 1999 [as amended], the CBN Act, and anticorruption standards.” It also warned that the alleged breaches threaten public confidence in the country’s apex bank and weaken the integrity of monetary policy and financial governance.

According to SERAP’s statement, the Auditor-General queried the non-remittance of over N1.4 trillion in operating surplus, the failure to recover N629 billion reportedly paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme, and the unresolved non-recovery of N784 billion in overdue intervention loans. One of the key excerpts from the report quoted by SERAP states that the CBN “failed to remit over N1 trillion [N1,445,593,400,000.00] of the Federal Government’s portion of operating surplus into the Consolidated Revenue Fund (CRF) account.”

The report also raised concerns over the Anchor Borrowers’ Programme, noting that “the numbers of beneficiaries who collected the money are unknown.” On intervention spending, the Auditor-General said the bank spent “over N125 billion [N125,374,000,000.00] on questionable intervention activities” without supporting documents or clear justification. SERAP added that the CBN spent more than N1.7 billion on operational vehicles for the Nigeria Immigration Service, quoting the Auditor-General’s remark that the spending was “unjustified because there is no connection with buying operational vehicles for the NIS and the objectives of the CBN.”

SERAP reminded the CBN of its constitutional duties, stressing that Nigerians “have the right to know the whereabouts of the public funds.” The organisation stated that it would take legal action if the bank fails to respond within seven days.

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ABU Zaria Pharmacy Alumni Launch Give-Back Initiative

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ABU pharmacy graduates have launched a new effort called the Faculty Alumni Give-Back Initiative to strengthen support for academic projects and infrastructure within the Faculty of Pharmaceutical Sciences, Ahmadu Bello University, Zaria. The initiative was unveiled during the Silver Jubilee Graduation Anniversary Homecoming of the U92PH Class, held on Thursday, 6th November, 2025.

The alumni described the idea as a structured way to contribute to the faculty through sustainable development, capacity building, and educational support, which aligns with the growing demand for quality pharmaceutical education and improved learning facilities.

According to the group, the aim is to create a long-term platform for alumni to support key academic and physical development needs. Members of the U92PH Class said the initiative would help drive meaningful investments in pharmaceutical training, research development, and student support. They also discussed how they could partner with the faculty in specific areas of need, noting that collective action is necessary to strengthen the faculty and improve its global competitiveness.

During their homecoming, the alumni toured the faculty, interacted with students and staff, and expressed satisfaction with the visible growth recorded since their graduation. They highlighted improvements in laboratory equipment, lecture facilities, and overall faculty development. The faculty management noted that the visit brought encouragement and renewed hope, with expectations that similar engagements would follow from other alumni groups.

In his welcome address, the Dean of the Faculty of Pharmaceutical Sciences, Prof Mohammed Garba Magaji, praised the initiative as a thoughtful step toward uplifting the faculty. He said the project represents their shared commitment to giving back and supporting future pharmacists. “We are the first alumni class to come together in this way after 25 years. Other classes are watching us closely. They are looking up to us for direction and inspiration,” he said.

Prof Magaji added that although each alumnus had achieved significant milestones individually, they could achieve far more collectively as a united alumni family. He also thanked the university management for its continuous support and for maintaining an enabling environment that promotes academic growth and institutional pride.

NIDCOM announces partnership to connect Nigerian youths to remote jobs

NIDCOM has announced a new partnership designed to link thousands of young Nigerian professionals to remote jobs in diaspora-owned businesses across the United States, Canada, and the United Kingdom. The initiative focuses on digital employment, remote work opportunities, and youth economic empowerment, targeting industries such as virtual assistance, digital marketing, business support, and other global service roles.

According to a statement signed by Remy Chukwunyere, Director of InnoPower Africa Foundation, the programme aims to address Nigeria’s rising youth unemployment rate by equipping graduates and early-career professionals with the exposure and skills needed to compete in the global digital marketplace. Chukwunyere noted that the collaboration is designed to give Nigerian youths a stronger pathway into high-income digital jobs.

The organisations involved explained that the partnership will create an end-to-end talent ecosystem supported by some of Nigeria’s leading institutions, including ITANA. Through this model, skilled young people will be identified, trained, and deployed to international companies using a secure digital business zone that supports global hiring and remote workflow systems.

Also integrated into the ecosystem are the University of Lagos’ African Research Universities Alliance Centre of Excellence for Unemployment and Skills Development, along with the National Talent Export Program. These partners will provide advanced training in technical abilities, professional communication, and global remote-work standards to ensure participants can meet international job requirements.

“Nigerian talents are world-class, innovative, and ready to deliver exceptional value to businesses globally,” said Mr. Emil Ekiyor, Founder of InnoPower Africa. “What has been missing is not capability: it is access, preparation, and connection to opportunities. Through this collaboration with NIDCOM and our talent ecosystem partners, we are building the infrastructure to make Nigerian professionals visible and competitive in markets where their skills are desperately needed.”

With Nigeria recognised as Africa’s largest hub of digitally skilled youths eager to engage in global economic activities, the programme aims to support diaspora-owned companies seeking reliable remote workers. The initiative is expected to create shared value for both Nigeria and diaspora communities by connecting businesses with trained professionals who meet global standards.

A major feature of the scheme is a paid internship programme at the University of Lagos. It is structured to give high-achieving students hands-on experience through direct collaboration with international firms. The internship aims to strengthen global business skills and help students transition into full-time remote roles after graduation.

At the core of the talent pipeline is Fast Track Virtual, InnoPower’s placement platform, which will provide thorough vetting, intensive skills development, cultural immersion, and continuous quality assurance for participants seeking global job exposure. Diaspora-owned companies listed in the NIDCOM database will also receive a discount on their first year of services when they hire a Nigerian professional on a full-year contract.

“NIDCOM is proud to champion this initiative that embodies our core mandate: mobilizing the Nigerian diaspora as active participants in solving our nation’s challenges,” said Hon Abike Dabiri-Arewa, CEO of NIDCOM. “Nigerians abroad are employers, mentors, and champions who can directly create opportunities for their brothers and sisters at home.”

NELFUND explains delay in paying fees for new students

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NELFUND Managing Director, Akintunde Sawyerr, has explained why the Nigerian Education Loan Fund cannot pay institutional fees for new students before they complete their registration processes. Speaking in Abuja during an interview with the News Agency of Nigeria, he said the system was designed to prevent financial losses and ensure proper verification before any tuition payment is released.

Sawyerr stated that paying tuition fees for students who have not fully registered or matriculated could expose the government to significant risks. He noted that admission alone does not confirm that a student will proceed with the programme, and releasing funds too early could lead to wasteful spending. “If we pay fees for students who have not entered, what if they change their minds and don’t go to the schools anymore? We cannot just say because somebody has been admitted to a school, and we will pay the fees before registering or matriculating,” he said.

According to him, premature payment would mean disbursing funds without certainty of intention, a move he described as dangerous for public finance. “If we carry on like that, we could end up disbursing billions of naira, only to find out that they have dropped out, got admission to a school outside the country, gone to another school, or not doing that course again,” he explained.

He identified another challenge within the admission system itself. Many students applying for the loan require a matriculation number, but most institutions do not issue it until the student has completed registration and matriculation. To address this, NELFUND is discussing temporary alternatives with tertiary institutions. Sawyerr said the agency may allow students to use their Joint Admissions and Matriculation Board registration numbers while awaiting their matriculation numbers.

“There are many genuine students who have applied, and they need a matriculation number to be able to process their fees. The challenge is that they cannot get their matriculation number until they have matriculated, and they cannot matriculate until they have paid. We are trying to work with the schools to see how those who have registered can use their JAMB registration number as a substitute,” he explained.

Reflecting on the evolution of the Fund, the managing director noted that NELFUND faced several hurdles before it could begin full operations. Sawyerr recalled that the first law establishing the Fund, signed on June 12, 2023, had major weaknesses that limited student access. “One of the flaws was the requirement for a guarantor, which we saw as a difficult position to put students in. If you need a guarantor, it means that you need to go out and plead with somebody or pay somebody,” he said.

He added that the initial Act also placed income restrictions that automatically disqualified many households. “The second was that the 2023 Act stated that any family that had a household income in excess of N500,000 was not eligible. We all know that N500,000 is a very small amount of money for a household over a whole year. So, it meant that many people would not be able to apply for the loan,” he said.

Another gap in the old law was the lack of provisions for student upkeep, leaving beneficiaries without support for basic needs. Sawyerr explained that these limitations prompted President Bola Tinubu to push for a repeal of the law. A new Education Loan Act was drafted, passed, and officially launched in May 2024.

He said NELFUND has since operated efficiently despite high demand. “From May 2024, when we started, and now, we are delighted that, not for a single day has the site crashed, even as we received unanticipated high demand. We have been able to receive applications on a steady basis, process them, pay students and their institutions from what has been allocated to us,” he said.

Sawyerr thanked Tinubu for his role in strengthening the system, noting that the Fund has become a lifeline for thousands of students who might have abandoned their education.

FG Launches DADI Programme for Persons With Disabilities in Kaduna

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Federal Government has launched the Disabilities Advancement and Development Initiative, DADI, a nationwide programme aimed at empowering thousands of persons living with disabilities. The initiative was unveiled in Kaduna as part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on inclusivity, economic independence, and equal opportunities. The government highlighted the importance of expanding social investment, economic growth, and national development through disability-focused programmes.

Speaking at the flag-off ceremony, the Senior Special Assistant to the President on Special Needs and Equal Opportunities, Hon. Mohammed Abba Issa, recalled that President Tinubu had earlier launched the Beyond Disability Project on July 22, 2025. He described that effort as a major step toward breaking barriers, eliminating stereotypes, and creating sustainable pathways for persons with disabilities. He said, “The president is committed to ensuring that every Nigerian, regardless of condition, has access to opportunities that support growth, dignity, and economic participation.”

Hon. Issa appreciated President Tinubu for the opportunity to serve and commended Kaduna State Governor Senator Uba Sani for his strong support in driving disability-focused policies. He explained that Kaduna was selected for the national launch because the state has consistently invested in the welfare and empowerment of persons with disabilities. He also praised the appointment of Mr. Steve Rodstick Ezeh as National Coordinator of the Beyond Disability Project. According to him, Ezeh is a visionary leader ready to drive meaningful change.

In an interview, the National Coordinator said the DADI programme is designed to support talent recovery, innovation, and self-reliance. He explained that the creative industry will play a major role in the programme, describing it as second only to agriculture in employment capacity. He said the initiative will nurture skills, promote entrepreneurship, and equip beneficiaries to become ambassadors of inclusion in their communities.

Also speaking, Malam Shamsudeen Abdullahi, Special Assistant to Governor Uba Sani, thanked the presidency for choosing Kaduna as host state. He acknowledged the state government’s interventions that have strengthened welfare and empowerment systems for persons with disabilities.

DADI will offer training, entrepreneurship support, and job placement opportunities across technology, agriculture, fashion, arts, crafts, and creative media. The programme aims to create an enabling environment where persons with disabilities can contribute fully to national growth.

The launch event featured exhibitions and performances showcasing music, dance, artwork, and crafts from persons with disabilities. Government officials, disability advocates, civil society organisations, and residents attended the ceremony.

The Federal Government reaffirmed its commitment to expanding accessibility and scaling up empowerment programmes. Stakeholders called for stronger collaboration between government agencies, NGOs, and the private sector to secure long-term success. As implementation begins in Kaduna and moves to other states, many participants expressed confidence that DADI will dismantle long-standing barriers and help persons with disabilities reach their full potential, further strengthening the Renewed Hope Agenda.

Obasa Games 2025 Opens With Focus on Youth Empowerment

At the grand opening of Obasa Games 2025 held at Anwar-Islam Model College, Oniwaya, Dopemu-Agege on Friday, the Chairman of the Main Organising Committee, Hon. Abdul-Ganiyu Obasa, said the multi-sport event is designed to empower and create real opportunities for talented youths across Lagos State. Obasa, who also serves as the Chairman of Agege Local Government, explained that the core purpose of the event is to give young people a platform to grow in sports and build future careers.

He said the participants will be fully engaged over the next month, noting that the event will help them enjoy sports, develop discipline, and work toward becoming future champions. According to him, the Obasa Games has grown rapidly since its inception in 2023 and now stands as one of the leading grassroots sporting activities in Lagos. He described it as a space where youthful passion aligns with teamwork and the drive for excellence, attracting interest from different communities and supporting youth development.

This year’s edition has gathered more than 10,000 participants drawn from all Local Government Areas and Local Council Development Areas in Lagos State. They are competing in seven sports, including Football, Boxing, Table Tennis, Chess, Scrabble, Ayo Olopon, and Athletics. Obasa said the theme, From the Streets to Stardom, reflects the belief that great talent often rises from modest backgrounds when given the right chance.

He said the N12m prize pool across the events makes the competition an important link between ambition and achievement. Obasa highlighted past successes, noting that an athlete from the table tennis category represented Nigeria at the African Table Tennis Championships, while players from the football category moved to Europe to continue their careers.

Obasa also expressed appreciation to the Speaker of the Lagos State House of Assembly, Rt. Hon. Dr. Mudashiru Obasa, for supporting the initiative. He said the Speaker’s commitment to youth development and sports growth continues to inspire the vision behind the event and strengthens hopes for more opportunities for young people in Lagos.

SabiGirl Talent Hunt Offers N1m Top Prize This November

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Ex-beauty queen and Miss Intercontinental Nigeria 2024, Chukwuemeka Nkechinyere, has shared the inspiration behind the SabiGirl Talent Hunt, a project she launched during her reign as Miss Port Harcourt City 2022. She said the initiative was driven by her desire to help young Nigerians discover and grow their natural abilities.

“SabiGirl Talent Hunt was created to give youths a platform to explore their talents beyond conventional careers. Nigerian youths are talented, and this initiative provides an avenue for bold and prepared people to maximise their potential,” she explained, also.

The 4th edition of the talent hunt will hold on Friday, November 28, 2025, at the KDC Events Centre, Waterlines Junction, Port Harcourt. This year’s event is expected to showcase a range of performances, including musicians, dancers, comedians, poets, and spoken word artists.

“We’re opening doors to every form of talent this year. Expect a variety of performances on display,” the ex-beauty queen said.

The talent hunt includes rewards such as N1 million for the winner, N500,000 for the first runner-up, and N300,000 for the second runner-up. Participants will also gain mentorship opportunities, brand exposure, and access to industry partnerships, which supports career growth for creatives in Nigeria.

Nkechinyere noted that the platform began as a scholarship programme for children, many of whom completed secondary school through the foundation’s support. She said the initiative has remained focused on long-term development.

“When the applause fades, our work continues. We ensure talents are mentored by industry experts and connected to opportunities such as brand deals, music labels, and professional networks,” she added.

She called for more collaboration with sponsors and entertainment stakeholders, stressing that talent development benefits from partnerships.

“Talent development requires collective effort. With support from industry players and sponsors, we can help these rising stars reach a global audience. Building from home strengthens our cultural ecosystem and creates international impact,” she said, speaking for Dollybirds Events.

NELFUND to Expand Student Loans to Vocational and Skills Programmes

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The Nigerian Education Loan Fund has revealed plans to expand its student loan scheme to include vocational training and skills acquisition programmes. The Managing Director of NELFUND, Akintunde Sawyerr, confirmed this in an interview with the News Agency of Nigeria on Sunday in Abuja. He said the expansion aligns with the Federal Government’s broader education and skills development agenda aimed at strengthening human capital and improving youth employment opportunities.

Sawyerr noted that the new direction reflects President Bola Tinubu’s commitment to inclusive human capital growth that goes beyond traditional university education. He stressed the importance of technical competence in national development, saying, “No nation is built solely by philosophers. It is very important to have people who can use their hands, energy, strength, and skills to put into action the clever ideas that come from those emerging from academic institutions.”

He explained that although NELFUND has mainly provided financial support to students in tertiary institutions since its launch, work is ongoing to expand access to individuals enrolled in vocational and technical programmes across Nigeria. According to him, the country’s next development stage requires a blend of academic learning and practical skills.

He said, “At NELFUND, we have a mandate to also do vocational skills. We have not started yet, but I know that the President Bola Tinubu administration has ensured that there is full coverage around the skills issue.”

Sawyerr highlighted that multiple government ministries are already involved in skill development initiatives. He said, “The Ministry of Youth Development is doing skills, the Ministry of Education is involved in skills and the Ministry of Digital Economy is involved in IT soft skills. So, skills are something that many departments of government have been charged with doing.”

He added that Nigeria has moved into what he called “the design, build, and operate stage,” stressing that “an engineer who can build, is better than an engineer who can just design.”

Igbo Unity Day: Akwa Ibom Earmarks N800m to Empower Non-Indigenes

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Akwa Ibom State Governor Umo Eno has restated his commitment to promoting unity, inclusivity, and economic growth for all residents, including non-indigenes who contribute to the state’s development. Speaking at the Igbo Unity Day Celebration held at Ibom Hall Grounds, Uyo, on Saturday, November 15, 2025, the Governor said his administration will continue to create opportunities that strengthen peaceful coexistence and support entrepreneurship across diverse communities. This approach aligns with the state’s focus on economic stability, social development, and investment-friendly policies that attract business growth and support digital economy expansion.

While addressing members of the socio-cultural group, Ohaneze Ndi Igbo Worldwide, Akwa Ibom State Chapter, Governor Eno emphasized that many non-indigenes, including Ndi Igbo, Arewa, Yoruba, and Niger Delta residents, were born in Akwa Ibom and have built successful businesses in the state. He said they deserve to be treated as full stakeholders in the state’s progress. The Governor announced that his administration has earmarked N800 million for the empowerment of non-indigenous communities, a move aimed at boosting small businesses, increasing financial inclusion, and supporting economic empowerment initiatives that align with high-demand sectors like technology, commerce, and youth entrepreneurship.

He applauded the leadership of the Igbo community for promoting unity among their members and for aligning with the peace-focused agenda of his administration. According to the Governor, peace and unity remain crucial for achieving sustainable development and attracting investors who rely on stable environments, strong governance, and secure business landscapes.

The Governor, who was born in Enugu State, also praised the Igbo people for their entrepreneurial strength. He said: “Let me congratulate and celebrate the Igbo community in the State for your great spirit of enterprise and faith in our collective democracy. The Igbo people here are part of our social fabric; they have added value to our community through their remarkable spirit of industry and brotherhood.”

He added that Akwa Ibom is becoming a melting pot where different cultures live together peacefully. He explained that the state’s success in fostering unity results from the government’s intentional pursuit of peace, security, and hospitality, qualities that now define Akwa Ibom at the national level. These qualities also support sectors tied to economic development, investment opportunities, small business support, and community empowerment.

Governor Eno expressed gratitude to Ohaneze Ndi Igbo for honoring him as their grand patron and for declaring their unanimous support for the re-election of President Bola Ahmed Tinubu, Senate President Godswill Akpabio, and himself in 2027. He promised continued partnership with the Igbo community and other non-indigenous groups, provided they maintain peace, obey the law, and avoid criminal activity.

Earlier in the event, the President of Ohaneze Ndi-Igbo, Akwa Ibom State Chapter, Hon. Kayceey Chidiadi, praised Governor Eno for what he described as visionary and impactful leadership. He said the Governor’s peaceful nature has influenced their community positively, helping them experience a unity that had been missing for many years. Chidiadi thanked the Governor for appointing their members into government positions, noting that such inclusion had never happened since the state was created. He confirmed that the Igbo community remains united in support of the Governor’s re-election, as well as that of President Tinubu and Senator Akpabio.

The highlight of the celebration was the conferment of Grand Patron of Ohaneze Ndi Igbo on Governor Eno in recognition of his inclusive governance and support for the community. The event was attended by Deputy Governor Senator Akon Eyakenyi, Speaker of the State House of Assembly Rt. Hon. Udeme Otong, Secretary to the State Government Prince Enobong Uwah, members of the State Executive Council, political leaders, industry captains, and other dignitaries.

Diaspora Investors Target Scalable Opportunities at NDIS 2025

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Diaspora investors are showing growing interest in scalable opportunities in Nigeria’s expanding economy as the three-day 8th Nigerian Diaspora Investment Summit (NDIS 2025) ended with a strong display of investment-ready ideas. The event featured high-profile pitching sessions across real estate, health, creative and entertainment, sports, agriculture, and renewable energy. Sector experts guided entrepreneurs as they presented innovations aimed at attracting diaspora-backed funding, boosting economic growth, and strengthening Nigeria’s position as a rising investment destination.

The Real Estate Pitching Session, moderated by Dr Henry Ogunjobi, highlighted the sector’s potential to reshape infrastructure and housing development. Ogunjobi said Nigeria is at an important stage for investment, noting that the combination of expertise, capital, and global exposure can accelerate growth. He explained that “Nigeria is at a turning point, where expertise, capital, and global exposure can redefine real estate and infrastructure development.” He encouraged participants to be clear about their business models and investor needs, adding, “Tell us the challenge you are solving, your corporate structure, and the support you need. Clear, actionable pitches help connect ideas to the right investors both here and online.”

The Health Pitching Session, moderated by Jane Osaretin Ifechukwu, pointed out the country’s health system gaps, including fragile primary care structures and supply shortages. She emphasized that the sector provides space for impactful innovation, saying, “Nigeria faces numerous health challenges, but this is also an opportunity for bold, practical solutions.” She urged entrepreneurs to present well-defined ideas, stating, “We want to hear what problem you are solving, how you are structured, and what specific support will turn your idea into impact. This is how we build partnerships that strengthen our national health ecosystem.” The session aligned with high-value health sector investment trends and highlighted the growing interest in digital health, medical technology, and improved care delivery.

Moderating the Creative, Entertainment and Sports Session, Beverley Agbakoba Onyejianya stressed the rising global influence of Africa’s creative industries. She described the sector as one experiencing rapid expansion, explaining, “We are witnessing a renaissance across Nollywood, sports tech, and the creative industries. These sectors are no longer cottage industries — they are scalable, exportable, and globally competitive.” She added that the emergence of local streaming platforms, the growth of sports technology, and increased digital engagement show “a new era where African talent becomes a major global export.” The session reflected how creative entrepreneurship is becoming a leading contributor to Nigeria’s digital economy and attracting high-value investments.

Agribusiness and Energy & Renewables sessions also drew significant interest, focusing on critical national needs such as food security and sustainable power. During the agribusiness segment, Dr Moji Davids described agriculture as the “lifeline” of the economy and stressed that food security remains a pressing global issue. She called for stronger collaboration between innovators and technologists to address shortages and create job opportunities. Davids, who owns Xtralarge farms and resorts, praised the summit for giving young entrepreneurs visibility and a chance to develop impactful ideas. The pitches showcased precision farming technologies, improved seed systems, aquaculture enhancements, women-focused leadership initiatives, and solutions for strengthening agricultural value chains. Startups also presented digital marketplaces and value-addition processes aimed at helping smallholder farmers access markets and improve income.

In the Energy and Renewables session, moderators and interventionists Nick Agule, Managing Partner at Dominus Consulting, and Dr Peter Ntephe, CEO of ERHC, emphasized the importance of diversifying Nigeria’s energy supply. They pointed out that adopting renewable energy and cleaner systems would support job creation and a more sustainable economy. They also noted that a shift toward clean energy would benefit public health and environmental quality. Agule encouraged Nigerians to take advantage of new opportunities available under the recent Electricity Act, which is supported by President Bola Ahmed Tinubu’s Renewed Hope Agenda. He highlighted that the Act encourages electricity generation and distribution at both federal and state levels. Startups in this session presented solar mini-grid systems, clean cooking solutions, compressed natural gas options for transportation, and waste-to-energy technologies.

Across sessions, experts emphasized innovation, investor-readiness, mentorship, gender inclusion, and the commercial viability of emerging businesses. The final day of NDIS 2025, themed Fast-Tracking Regional and National Development by Mobilising Diaspora Investment, reinforced the summit’s role in connecting Nigerian entrepreneurs with diaspora investors. The platform continues to serve as a bridge for investment, job creation, and opportunities aimed at driving sustainable national development.