Home Blog Page 39

Dangote signs $400m deal to expand refinery to 1.4m barrels per day

Paulinus Sunday
-
0
Dangote signs $400m deal to expand refinery to 1.4m barrels per day

Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day.

The expansion is expected to position the refinery as the largest in the world. Under the agreement, the Group will acquire a wide range of advanced construction equipment to support ongoing and upcoming projects across refining, petrochemicals, agriculture and large-scale infrastructure development.

The newly acquired equipment will complement existing assets already deployed for the refinery expansion, which is projected to be completed within three years.

Beyond refining, the expansion programme will significantly increase production capacity across several business lines. Polypropylene production will rise from 900,000 metric tonnes per annum to 2.4 million metric tonnes per annum. Urea capacity in Nigeria will be tripled from 3 million to 9 million metric tonnes per annum, in addition to the existing 3 million metric tonnes per annum capacity in Ethiopia. This move will strengthen the Group’s position as the largest urea producer globally.

Production capacity for Linear Alkyl Benzene (LAB) will increase to 400,000 metric tonnes per annum, positioning the Group as the largest producer in Africa and boosting supply to the detergent and cleaning agents manufacturing industry. The broader expansion programme also includes additional base oil production capacity.

In a statement, the Group described the agreement as a strategic investment aimed at deepening its construction footprint and accelerating its ambition to build a $100 billion enterprise by 2030.

“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects. With this investment, we are positioning ourselves to become the number one construction company in the world,” the statement said.

Dangote Group is currently accelerating expansion and regional market development as it advances toward its long-term vision of building a $100 billion enterprise by 2030.

Advertisement

Sterling HoldCo Fully Recapitalises Sterling Bank and AltBank

Paulinus Sunday
-
0
Sterling HoldCo Fully Recapitalises Sterling Bank and AltBank

Sterling Financial Holdings Company Plc has confirmed that its core banking subsidiaries, The Alternative Bank (AltBank) and Sterling Bank, are fully recapitalised in line with the Central Bank of Nigeria’s (CBN) revised minimum capital requirements, following final regulatory approvals received in January 2026.

The company disclosed that its capital-raising programme was substantially completed between December 2024 and October 2025, placing the Group well ahead of the 2026 industry deadline set by the CBN.

In December 2024, Sterling HoldCo completed a N75 billion private placement, raising N73.86 billion in net proceeds. According to the Group, N68.8 billion of the proceeds was allocated to Sterling Bank, while N5 billion was injected into The Alternative Bank to strengthen the capital base of both institutions.

The exercise was followed by a N28.79 billion rights issue, which recorded an oversubscription of N10.29 billion. After receiving regulatory approvals in May 2025, the company allotted N26.639 billion under the rights issue, while the oversubscription was restructured into a private placement. This restructuring enabled AltBank to meet the capital requirement for non-interest banks with national licences.

In October 2025, Sterling HoldCo further reinforced its capital position through an N88 billion public offer, which also recorded an oversubscription. The company stated that the CBN has cleared the full amount of N96.69 billion for recognition as additional capital. The Securities and Exchange Commission (SEC) also approved the allotment of 13,812,239,000 shares.

In total, the Group injected N153 billion into Sterling Bank and The Alternative Bank, bringing both institutions into full compliance with the revised capital requirements.

Speaking on the development, Group Chief Executive Officer, Yemi Odubiyi, said the recapitalisation strengthens the Group’s capacity to support economic activities while maintaining financial resilience.

“This exercise goes beyond regulatory compliance. It positions us to expand credit responsibly, accelerate innovation and provide sustained support to businesses and households, while maintaining the discipline required in a challenging operating environment,” he said.

Odubiyi added that fully capitalising both Sterling Bank and The Alternative Bank reinforces the Group’s dual-bank structure and strengthens its ability to serve both conventional and non-interest banking segments.

“Our structure enables efficient deployment of capital across complementary markets and positions us to respond with agility to evolving customer needs,” he said, noting that strong investor participation reflects confidence in the Group’s governance and long-term strategy.

Plateau Trains 120 Youths on CNG Conversion and Safety

Paulinus Sunday
-
0
Plateau Trains 120 Youths on CNG Conversion and Safety

The Plateau State Government, in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) and Thermolinks Limited, has inaugurated a five-day training programme on Compressed Natural Gas conversion, safety and maintenance for 120 youths in the state.

The programme was declared open on Monday at the Federal Secretariat in Jos by the Plateau State Deputy Governor, Josephine Piyo, who represented Governor Caleb Mutfwang. She said the initiative aligns with the Federal Government’s National Gas Expansion Programme, which is designed to promote cleaner, safer and more affordable energy options across the country.

Piyo emphasised that the training reflects the administration’s commitment to youth empowerment, skills acquisition and environmental sustainability. She stated, “Youth development remains a top priority of our administration.

“This training goes beyond gas conversion; it equips our young people with practical, market-driven skills that open doors to entrepreneurship and active participation in Nigeria’s evolving energy economy.”

She commended the NCDMB for extending the programme to non-oil-producing states like Plateau, describing the move as a clear demonstration of national inclusion and commitment to indigenous capacity building.

The Project Director of Thermolinks Ltd., Mr Tonye Briggs, revealed that Plateau is the fifth state to benefit from the programme. He praised what he described as exceptional support from the Plateau State Government compared to other states.

Briggs explained that the training is highly practical, combining classroom-based theoretical sessions with real-time vehicle conversions. “Each participant will receive a starter toolkit and two certificates, one backed by the Federal Government and another by the programme partners. Their names will also be uploaded to a national database of certified CNG technicians,” Briggs stated.

He highlighted the increasing demand for CNG technicians nationwide, noting that over 70 per cent of newly introduced heavy-duty trucks across the country now run on CNG, with thousands more deployed in recent times.

Earlier, the state Commissioner for Transport, Davou Jatau, described the initiative as a novel and timely innovation for Plateau State. He disclosed that the government is working on partnerships to establish a CNG conversion centre in Jos.

Jatau appealed for accelerated federal support to provide CNG refilling infrastructure, stressing that access to gas supply remains a major challenge.

The General Manager of the Plateau State Energy Services Corporation, Engr. Ponzing Gamde, said the programme offers dual benefits to the state. “This programme is a major gain for Plateau State. It promotes clean energy, reduces environmental degradation and equips our youths with skills they can turn into a sustainable occupation.

“It is both an empowerment initiative and an environmental intervention,” Gamde said.

FG Plans BOI Loans for 26,000 IDEAS TVET Trainees

Paulinus Sunday
-
0
FG Plans BOI Loans for 26,000 IDEAS TVET Trainees

The Federal Government has disclosed plans to provide soft loans from the Bank of Industry (BOI) to about 26,000 trainees under the Innovation Development and Effectiveness in the Acquisition of Skills (IDEAS) TVET initiative, as part of efforts to reduce youth unemployment and promote self-reliance.

The IDEAS Technical and Vocational Education and Training (TVET) project is a World Bank-supported initiative aimed at strengthening Nigeria’s Technical and Vocational Education and Training system and equipping young people with practical, employable skills.

The National Project Coordinator for the IDEAS project, Mrs Blessing Ogwu, made this known on Friday during a visit to Wavecrest College in Surulere, Lagos. Officials of the Federal Ministry of Education and representatives of the World Bank interacted with trainees undergoing Technical and Vocational Education and Training at the institution.

Ogwu explained that the ministry is seeking partnership with the BOI to secure soft loans for trainees after graduation, enabling them to scale up their businesses.

“At the end of the programme, the federal ministry intends to give the trainees starter packs. We are training them not to roam the streets in search of government jobs but to become self-reliant,” she said.

“The ministry is also liaising with the Bank of Industry to get them soft loans with which they can do something meaningful.”

She urged the trainees to take the programme seriously, describing it as a major investment by the government.

“If the Federal Government can take loans to train Nigerians, then the trainees must take it seriously because it will earn them a living. The essence is to reduce youth unemployment,” she said.

Ogwu revealed that the current batch comprises about 26,000 trainees. She added that a previous cohort had 14,000 participants, while the pilot phase trained 1,050 individuals.

According to her, the six-month programme for the current batch began on January 12, 2026, while Batch One commenced on October 12. She disclosed that another cohort of about 30,000 trainees is expected by the end of March.

She stressed that the IDEAS project of the Federal Ministry of Education was specifically designed to reduce unemployment by equipping youths with practical skills that can translate into income-generating opportunities.

According to her, the Federal Government is prioritising skills acquisition as a strategy to tackle unemployment and take young people off the streets.

She again urged beneficiaries to remain committed to their training to ensure they can earn a living independently at the end of the programme.

“The Federal Government has budgeted substantial funds for TVET. There is also additional support from the World Bank to promote TVET education in Nigeria,” she added.

Ogwu explained that training service providers under the project engage external tutors to support trainees as the programme progresses, ensuring that participants receive both technical and practical exposure.

“We have over 400 centres currently running under this project. In addition to that, the Ministry of Education is also running TVET centres, bringing the total to over 3,000 centres nationwide. Many Nigerian youths have been writing and appreciating the Minister of Education for initiating this programme,” she said.

Also speaking during the visit, Scherezad Latif, Practice Manager for Education for West and Central Africa at the World Bank, described Nigeria as one of the institution’s largest education programmes.

She said the visit was aimed at reviewing the minister’s TVET initiative as well as the World Bank-supported IDEAS project.

“We are proud to be part of the government’s programme and to see the results achieved, particularly here at Wavecrest College,” she said.

Latif described Wavecrest College as a model in hospitality training and expressed satisfaction with the level of motivation and clarity of purpose shown by the trainees.

“With what we have seen, we are impressed with the students’ motivation and their clear vision of why they are here and what they hope to achieve,” she said.

The Deputy Provost of Wavecrest College and NSQ Project Coordinator for the institution said the goal of the training is to equip participants with employable skills in the hospitality industry while linking them to job opportunities.

“We are combining training with employment prospects. By the end of the programme, participants would have acquired the necessary technical and hospitality skills to secure jobs,” she said.

She explained that the training modules include catering and hospitality management, food production, food service, front office and customer service, as well as housekeeping operations.

“The idea is to prepare them to work in any hospitality outlet. They can also choose to specialise in any of the modules,” she added.

She encouraged trainees to maximise the mentorship sessions and life skills classes embedded in the National Skills Qualification framework.

“There is a combination of theory and practical sessions. We are nurturing their dreams using the curriculum provided by the government,” she said, noting that the IDEAS project is being implemented in collaboration with the World Bank.

One of the trainees, Ihedioha Ifeanyichukwu of the NSQ 2026 Batch A, said he applied for the programme after seeing flyers online and was selected following a physical screening.

“I see myself working in a five-star hotel at a management level. I also see myself owning my own establishment and building it to where I want it to be,” he said.

He added that the training had broadened his understanding of the hospitality industry and given him clearer direction.

“The Federal Government has done its part; it is left for me to work hard. We have a three-month internship, and I am working towards being retained wherever I am posted and saving from my allowance to start my own business,” he said.

ICSP Opens Recruitment for State Coordinators Across Nigeria

Paulinus Sunday
-
0
ICSP Opens Recruitment for State Coordinators Across Nigeria

The Institute of Cyber Security Professionals (ICSP) has announced a nationwide call for applications to appoint State Coordinators across all 36 states and the FCT. The initiative is aimed at strengthening cybersecurity awareness, capacity building, and digital resilience throughout Nigeria.

Selected coordinators will represent ICSP in their respective states and lead efforts to expand cybersecurity knowledge. Responsibilities include organizing trainings, workshops, and awareness programmes, as well as building partnerships with government institutions, schools, and private organizations. Coordinators will also mobilize members, grow the cybersecurity community, report state activities, and support national initiatives driven by the institute.

Applicants must possess a minimum of HND or BSc qualification, preferably in ICT or a related field. Candidates are expected to demonstrate strong leadership and coordination skills, a passion for cybersecurity and professional development, and the ability to engage key stakeholders and institutions effectively.

Interested applicants should send their CV and a Statement of Interest to info@icspng.com with the subject line: State Coordinator Application (Your State).

Presidency Launches JusticeTechNG Demo Day with N22m Prize Pool

Paulinus Sunday
-
0
Presidency Launches JusticeTechNG Demo Day with N22m Prize Pool

The Office of the Special Assistant to the President on Justice Sector Reform and ICT/Digital and Innovative Technology, in collaboration with Arravo, has announced plans to host the JusticeTechNG Demo Day in Abuja on Tuesday, February 17, 2026, with a total prize pool of N22 million for winning teams.

The announcement was made in Lagos during a press briefing addressed by the Chief Executive Officer of Arravo, Dr Ayo Adeboye, who formally read the press release outlining the objectives and structure of the initiative. He described JusticeTechNG as “a reform-driven innovation programme designed to deliver practical, technology-enabled improvements within Nigeria’s justice system.”

According to him, the initiative connects policy leadership with technologists, legal practitioners, judicial officers and justice sector institutions to develop solutions rooted in operational realities. He noted that the Demo Day would mark the conclusion of the JusticeTechNG Hackathon and Accelerator, where selected teams will present working prototypes addressing challenges such as case management inefficiencies, procedural delays, record administration gaps and access to justice constraints.

Dr Adeboye further disclosed that the Honourable Attorney-General of the Federation and Minister of Justice will serve as Chairman of the Occasion. He added that prizes will be awarded to outstanding teams, with the winner receiving N10 million, the first runner-up N7 million and the second runner-up N5 million to support further development and potential institutional deployment.

Joining the briefing virtually, the Special Assistant to the President on Justice Sector Reform and ICT/Digital and Innovative Technology, Fernandes Marcus Obienu, reaffirmed the Federal Government’s commitment to leveraging innovation to strengthen justice delivery. He emphasised that JusticeTechNG aligns with broader national reform objectives aimed at improving efficiency, transparency and public confidence in the justice sector.

Also lending institutional support to the programme are leading legal practitioners, including Ugochukwu Obi and Omolade Afonja, Partners at Perchstone & Grays. Both Lawyers are providing advisory and strategic input to ensure that proposed technological solutions remain legally grounded, regulatorily compliant and practically implementable within existing justice frameworks.

The organisers stated that the hybrid event will bring together senior judicial officers, regulators, Lawyers, investors and justice sector stakeholders who will serve on the review panel. Media representatives and members of the legal and innovation communities have been invited to attend the Demo Day, expected to spotlight scalable solutions capable of transforming justice administration in Nigeria.

Apply: Fidelity Bank HerFidelity Apprenticeship Program for Women

Paulinus Sunday
-
0
Apply: Fidelity Bank HerFidelity Apprenticeship Program for Women

Applications are now open for the Fidelity Bank HerFidelity Apprenticeship Program, an initiative focused on empowering women with practical skills and structured support for sustainable income. The programme is designed to help women gain hands-on experience across diverse professional fields, including automobile manufacturing, construction, barbing, shoemaking, and other vocational trades.

The HerFidelity Apprenticeship Initiative provides participants with access to real work environments where they receive structured, on-the-job training. Women are matched with experienced craft persons and businesses to strengthen their skills while building confidence in industries that offer long-term career opportunities. Beyond technical training, the programme integrates mentorship and financial inclusion support to prepare participants for economic independence.

Participants receive financial literacy training covering income management, consistent savings, understanding basic banking services, and planning for growth. The programme also introduces beneficiaries to safe and secure banking, savings culture, and financial identity building. Mentors provide guidance, career advice, and encouragement throughout the training period.

Upon completion, participants are better positioned to secure employment, start their own businesses, or expand existing ventures.

Eligibility is open to female apprentices, young women nearing completion of their apprenticeship, and women seeking structured support as they transition from learning to earning.

Interested applicants can apply at http://fidelitybank.ng/herfidelity/apprenticeship/.

NADF Assesses Financing Models to Support Young Agripreneurs

Paulinus Sunday
-
0
NADF Assesses Financing Models to Support Young Agripreneurs

The National Agricultural Development Fund (NADF) has commenced the assessments of practical financing models that can lower entry barriers for young agripreneurs.

This move was highlighted as NADF featured at the National Youth Agribusiness Strategy Domestication Dialogue held in Abuja and organised by the Federal Ministry of Agriculture and Food Security in collaboration with the Alliance for a Green Revolution in Africa (AGRA).

Discussions at the forum focused on finance, climate resilience, and the role of young people and women in Nigeria’s agrifood economy. Delivering the keynote address, the Minister of Agriculture and Food, Senator Abba Kyari, described young Nigerians as active drivers of change. He said agriculture’s future depends on their access to finance, skills and technology. According to him, there is ongoing collaboration with NADF and other financial institutions to expand credit, manage risk and support youth-led enterprises.

The Executive Secretary of NADF, Mohammed Ibrahim, attended the dialogue, while the Fund was represented on a panel discussion on blended finance by Mr Ernest Ihedigbo, General Manager, Technical Services. The panel examined practical financing models that can lower entry barriers for young agripreneurs, especially those without traditional collateral.

Speakers at the event agreed that agriculture remains central to achieving sustainable prosperity, noting that structured finance is a key link between policy goals and viable agribusiness opportunities.

NASENI Sets 2026 as Result-Based Year, Prioritises Quality Projects

Paulinus Sunday
-
0
NASENI Sets 2026 as Result-Based Year, Prioritises Quality Projects

The Executive Vice Chairman/Chief Executive of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, has declared that 2026 will be a result-based year for the Agency, with a strong focus on executing compact, clear and deliverable quality projects that will transform the lives of Nigerians and improve economic growth.

Halilu made the statement at the maiden edition of the NASENI Performance Management System (PMS) retreat held on Monday, February 16, 2026, in Abuja. The retreat, themed “Institutionalizing Performance Excellence: Driving Accountability, Results, and National Impact,” brought together principal officers, Research Directors, Heads of Departments and Units at the Headquarters, Managing Directors of NASENI Development Institutes, Overseeing Officers and Project Managers.

The retreat is aimed at designing how officers plan, measure, review and deliver results on their specific assigned roles.

Speaking at the event, Halilu said the Agency would operate on the principle of “WHO, NOT HOW.” He explained that staff should not overburden themselves with challenges while performing a task, but instead identify those who have the expertise to execute the job effectively.

“This kind of principle is what we are going to apply giving the opportunity to the people who knows how to do the work and do it well. In 2025, there were accelerated results, especially around our projects, we were able to unveil over 40 projects which are ongoing. This shows that we are continuously improving in our performance, but we have to expand our strategic performance in order to keep engaging our partners on our performance,” Halilu said.

He added that the Agency would prioritize quality over quantity in the coming year. “In 2026, we are going to do fewer things, but more quality and better delivery, but this is an election year and things will move very fast. I want to see people develop beyond their capacity, show collective responsibility, perfect organizational reputations and transparent communication,” he stated.

Halilu also urged participants to be grateful for one another, embrace teamwork, deliver on promises, maintain staff morale and strengthen team spirit.

In her welcome remarks, the Secretary to the Agency, Dr. Mrs. Komolafe Olayinka Adunni, described the retreat as a strategic working session designed to strengthen accountability, clarify expectations and deepen collective ownership of results.

She said that as an agency entrusted with a critical national responsibility, “our outputs must not only be visible-they must be measurable, coordinated, and sustainable.”

“Over the next three days, we will critically examine our performance structures, review targets and reporting frameworks, assess institutional linkages, and address gaps that may be constraining efficiency in our organization,” she added.

How to Submit for The Nigeria Prize for Creative Arts 2026

Paulinus Sunday
-
0
How to Submit for The Nigeria Prize for Creative Arts 2026

The Nigeria Prize for Creative Arts has released clear guidelines on how to submit entries for the 2026 cycle through the official FilmFreeway platform. The announcement confirms that all submissions must be completed online and strictly through the verified process.

Applicants are required to visit www.filmfreeway.com to begin. New users must click on “Sign Up” and register using Google or an email address, after agreeing to the terms and privacy policy. Once registration is complete, entrants should log into their dashboard, go to “My Projects,” and select “Add a Project.”

The submission process is structured in four key steps. Step one requires Project Information, including the project type such as short film or music video, title, brief synopsis, and optional website or social media links. Step two covers Submitter Information, where applicants must provide their name, email, address, city, postal code, and country. Step three focuses on Credits, including directors, writers, producers, and other key contributors. Step four requires Specifications such as runtime, completion date, production budget, country of origin, language, and genre.

After completing these sections, entrants must click “Save Project.” To locate the prize, applicants should browse festivals and search for “The Nigeria Prize for Creative Arts.” Access is also available through the official URL shared on www.thenigeriaprizes.org and verified social media pages.

On the official FilmFreeway page, entrants are required to upload their video file or paste an active link from Vimeo, YouTube, or another hosting platform. The link must be accessible to judges, with a password provided if necessary. Additional documents including NIN, passport data page, and a signed consent form must also be uploaded. Applicants are advised to include details of screenings, awards, or distribution where applicable.

Submissions are only accepted through the official FilmFreeway platform. Participants are warned to avoid third-party or unofficial links, and the Nigeria Prize for Creative Arts will not require any money to send in your entry.

Further details are available on www.thenigeriaprizes.org under The Nigeria Prizes.

1...383940...641Page 39 of 641