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MTN sign $500,000 grant agreement to study women’s access to financial services

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MTN sign $500,000 grant agreement to study women’s access to financial services

MTN sign $500,000 grant agreement to study women’s access to financial services

The African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria.

The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services and will be funded through the Africa Digital Financial Inclusion Facility (ADFI). The French Treasury’s Ministry for the Economy and Finance and the French Development Agency (AFD) co-finance and partner this Facility.

A statement on Wednesday by the French Development Agencysaid: “Despite being the continent’s largest economy, 55% of rural Nigerians still lack access to financial services. The rate of mobile money adoption currently stands at 4%, with an agent ratio of 228.8 agents per 1,000 adults. Political instability and conservative cultural norms in parts of Northern Nigeria are thought to present barriers to women’s access to finance. Additionally, 80% of agents in the region are men.”

The statement quoted Director of the French Development Agency (AFD) in Nigeria, Xavier Muron to have said: “French Development Agency (AFD), through the Africa Digital Financial Inclusion Facility (ADFI), is delighted to support this project, furthering our work to financing solutions that contribute not only to the development of a competitive economy that creates jobs and wealth, but also to shared, inclusive and resilient development.”

Also Read: 2022 Commonwealth Games: Queen’s Baton visits Nigeria

On behalf of YDFS, it’s Chief Executive Officer, Usoro Usoro, said, “We are truly excited about this partnership with the African Development Bank, and the possibilities for advancing financial inclusion in Nigeria, particularly for the traditionally excluded segment of women in Northern Nigeria.”

ADFI is a pan-African initiative designed to catalyze digital financial inclusion throughout Africa with the goal of ensuring that 332 million more Africans, 60% of them women, gain access to the formal economy. Current ADFI partners are the French Development Agency (AFD); the French Treasury’s Ministry for the Economy and Finance; The Government of Luxembourg’s Ministry of Finance; the Bill and Melinda Gates Foundation; and the African Development Bank,

Y’ello Digital Financial Services is a fintech subsidiary of MTN Nigeria, Africa’s largest provider of communications services, and the operator of MoMo Agent service. YDFS is a financial service provider in agency banking and super-agent operation under the CBN Super-Agent framework and agent banking guidelines to provide amongst other services, agent network to serve financial institutions and Mobile Money operators in Nigeria.

MTN sign $500,000 grant agreement to study women’s access to financial services

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Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

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Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

By: Michael Mike

The Network for the Actualization of Social Growth and Viable Development (NEFGAD), a frontline public procurement advocacy group, has commended President Bola Tinubu for the bold, visionary, and far-reaching reforms outlined in his presentation of the 2026 Appropriation Bill to the National Assembly.

NEFGAD particularly commended President Tinubu’s remarks on public procurement at the presentation of the budget, stating that the President’s statement underscores the administration’s unwavering commitment to transparency, efficiency, and prudent management of public resources.

In a statement signed by the organisation’s acting head of office, Barrister Unekwu Ojo, and made available to journalists on Saturday, NEFGAD lauded the President’s disclosure that the Federal Government commenced a comprehensive procurement reform framework from November last year, describing it as a decisive shift toward strengthening due process, reducing waste, and enforcing accountability across Ministries, Departments, and Agencies (MDAs).

The statement noted that the reforms have demonstrably shortened procurement processing timelines, enhanced compliance, and strengthened sanctions against erring contractors and public officials, setting a new benchmark for governance and fiscal prudence.

The group said that November 2024, the period referenced by Mr. President, coincides with the assumption of office of the Director-General of the Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun, and established beyond doubt, that the procurement reforms acknowledged by Mr. President are being driven and implemented under the leadership of Dr. Adedokun, in alignment with the policy direction of the Tinubu administration.

Of particular significance is the President’s emphasis on the Nigeria First Policy, which mandates MDAs to prioritize Nigerian-made goods and local companies in public procurement, NEFGAD described this policy as a strategic intervention aimed at deepening local content, stimulating domestic industries, creating jobs, encouraging innovation, and reducing Nigeria’s over-reliance on imports, and emphasised that procurement is no longer a mere administrative process but a powerful instrument for national economic development and industrial growth.

Ojo further commended the remarkable achievement of the Bureau of Public Procurement under Dr. Adebowale Adedokun, which has recorded over ₦1 trillion in savings within just one year through enhanced price intelligence and benchmarking mechanisms.

She insisted that: “This figure is larger than the cumulative savings recorded by the BPP in 17 years from 2007 to 2024 before Dr. Adedokun’s assumption of office, marking the most significant cost-saving milestone in the history of the Bureau and perhaps in the entire continent by any government in a single budget cycle.”

NEFGAD observed that these gains are a clear demonstration that Nigeria’s procurement system is entering a new era defined by efficiency, national interest, and sustainable economic growth. The organisation stressed that while the achievements are commendable, sustained reforms must be safeguarded through strict adherence to due process, impartial enforcement, and continuous transparency.

The group called on all stakeholders, including MDAs, civil society organisations, and the media, to actively engage in monitoring the implementation of procurement reforms, ensuring that the Nigeria First Policy achieves its intended goals without being hijacked by vested interests or manipulated for political patronage.

NEFGAD also urged the government to institutionalise best practices, consolidate savings, and expand the culture of accountability, warning that the long-term success of the reforms hinges on consistent oversight, robust regulatory frameworks, and unwavering political will.

According to NEFGAD, the ongoing transformation of Nigeria’s procurement landscape is not only a victory for public finance management but also a template for good governance that other sectors can emulate. The organisation reiterated its commitment to supporting the government’s reform agenda through advocacy, capacity building, and independent monitoring, emphasizing that procurement must continue to serve as a strategic driver of economic development, job creation, and national prosperity.

Tinubu’s Procurement Reforms, a Turning Point for National Economic Growth – NEFGAD

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China-Nigeria Trade Volume Surpasses $22b- Envoy

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China-Nigeria Trade Volume Surpasses $22b- Envoy
…10,000 Nigerians Have Enjoyed Training Programmes in China So Far

By: Michael Mike

China-Nigeria trade volume has surpassed $22 billion, China Ambassador to Nigeria, Yu Dunhai has said.

Speaking at the 1st Annual China-Nigeria Government Exchange Program Alumni Reunion Gala, in Abuja, Yu also disclosed that over 10,000 Nigerians have benefited from opportunities for the exchange provided by China.

Yu while noting that 2025 trade volume has surpassed that of the previous year, said that China’s direct investment to Nigeria increased by 130%, while Nigeria’s export increased by over 200%.

He said: “ I think this bilateral relations not only has a political meaning, but it’s actually more about people-to-people relations. And I’m very happy to let all of you know that our trade volumes, this year, already surpassed 22 billion U.S. dollars.

“That’s already surpassed the total amount of last year. And China’s direct investment to Nigeria increased by 130%. And another good news is Nigeria’s export increased by over 200%.”

The envoy also said his country is working closely with Nigeria authorities to implement the zero tariff policy announced in June 2025, which is meant to expand Nigeria’s export to China while also enhancing Nigeria’s position on the international global trading system.

He said: “We are working very closely with the Ministry of Industry, Trade and Investment to implement the zero tariff policy, which the Chinese government announced last June. That is, China is going to provide zero tariff for 100% of products from all 53 African countries, including Nigeria, to China.

“And I believe that this is going to expand Nigeria’s export to China and contribute also to the enhancing of Nigeria’s position on the international global system, the trading system.”

He noted that China-Nigeria are working on other various projects which are aimed at providing mutual benefits, stating that he believed that Nigeria and China are natural partners, as both countries shared the same interest.

He therefore said both countries need to work together to enhance the current global governance, to address the active representation of African countries, and to better let our voices be heard globally.

Yu, while stating that: “China’s today is Nigeria’s tomorrow,” noted that China and Nigeria shared a lot of similarities.

On bringing the alumni together, Yu said: “is to provide a platform for our alumni who attended the Chinese Government Exchange Programme to stay connected, to exchange ideas, and thus contribute to China-Nigeria relations.

“Indeed, over the years, China has provided over 10,000 opportunities for the training programme for Nigerians.

He said the training opportunities aimed at building the capacities and sharing experience of governance, to poverty reduction, to manufacturing, agriculture, public health, trade, investment, science, technology, innovation, food economy, digital economy.

He added that: “And I believe that this not only helps to enhance the capabilities of the individuals, but also contributes to the economic and social development of Nigeria.”

Yu said the alumni of the exchange programme cut across Nigeria’s cities of Abuja, Lagos, Maiduguri and Ibadan, among others.

China-Nigeria Trade Volume Surpasses $22b- Envoy

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Sterling Strengthens Media Capacity on Sustainability Reporting

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Sterling Strengthens Media Capacity on Sustainability Reporting

By: Michael Mike

In a deliberate move to deepen responsible sustainability reporting and strengthen the role of the media in national development, the Sterling Sustainability Working Group has convened a high-level sustainability training for journalists as part of activities marking the 2025 National Sustainability Week (NSW).

The Sterling Sustainability Working Group champions the sustainability mandate for the Sterling Financial Holdings Company that comprises of Sterling Bank and Alternative Bank

The strategic programme, organised by the Sterling Sustainability Working Group in partnership with the Climate Africa Media Initiative and Centre (CAMIC) in collaboration with NatureNews brought together selected media executives and journalists from across the country for a two-day hybrid engagement that began on Tuesday in Abuja.

Welcoming participants, Chairperson of the Sustainability Working Group, Mrs Bunmi Ajiboye, underscored the central role of the media in shaping public perception and policy conversations around sustainability.

She described the engagement as a pivotal intervention aimed at redefining how Nigeria’s development story is told.

According to her, sustainability has moved beyond a narrow environmental narrative to become a comprehensive development framework that touches the economy, innovation, governance and social inclusion.

She noted that journalists as custodians of public information, have a responsibility to frame these issues with clarity, accuracy and purpose.

Ajiboye also said that effective storytelling by the media can drive action, dispel misinformation and elevate grassroots solutions that often go unnoticed. She said the training was designed to equip participants with the tools and insights needed to amplify credible solutions, influence behaviour and inspire collective responsibility among citizens and decision-makers.

She further highlighted Sterling’s sustainability footprint, citing the company’s investments in renewable energy projects, support for circular economy ventures, promotion of climate-smart agriculture and youth empowerment initiatives nationwide. These efforts, she said, reflect Sterling’s long-term commitment to embedding sustainability into business strategy and social impact.

She said: “This is not just a learning session; it is a call for partnership,” while urging journalists to work with stakeholders in building narratives that reflect Nigeria’s resilience, creativity and potential.

Participants at the training were drawn from reputable print, broadcast and digital media organisations and joined both physically and virtually.

They received expert-led sessions from seasoned media professionals, including Aliu Akoshile, Publisher of NatureNews Media; Akogun Ishiak Ajibola, former Managing Director of Daily Trust; and Victoria Bamas, Editor at the International Centre for Investigative Reporting (ICIR).

The training focused on strengthening digital reporting skills, deepening understanding of sustainability issues and positioning the media as a critical driver of informed public discourse and sustainable development outcomes in Nigeria.

Sterling Strengthens Media Capacity on Sustainability Reporting

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