National News
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
By: Michael Mike
The lProceeds of the N250 billion Sovereign Sukuk issued last December by the Debt Management Office (DMO) would be released as part of the 2021 capital expenditure, the federal government on Thursday revealed.
Speaking at the symbolic cheque presentation ceremony of the N250 billion Sukuk proceeds to the implementing ministries, The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed said this is in line with the Appropriation Act, which had been extended to March 31, 2022 by the National Assembly.
The Minister also disclosed that a total of N3.4 trillion had been released for capital projects as of November 2021.
She said that since the emergence of Sukuk as a financing window for infrastructure in September 2017, a total of N362.557 billion had been released to the Federal Ministry of Works and Housing to fund key road projects.
The Minister said in view of the significant milestones recorded in the use of Sukuk funds in the reconstruction and rehabilitation of road infrastructure, with visible evidence, the government decided to incorporate other ministries with critical road projects into the Sukuk funding structure.
She said: “Today, we have the Federal Capital Territory Administration (FCTA) and Ministry of Niger Delta Affairs (MNDA) joining us.
“The three ministries (FMWH, FCTA and MNDA) will be sharing the Sukuk issue proceeds of N250 billion, which was successfully issued by the Debt Management Office (DMO) on behalf of the Federal Government of Nigeria on December 29, 202.”
According to her: The N250 billion gives the Federal Ministry of Works and Housing N210,565,000,000.00; Federal Capital Territory Administration (FCTA), N29,000,000,000.00; and the Ministry of Niger Delta Affairs, N10,435,000,000.00.
On the performance of the 2021 budget Ahmed noted that as of November 2021, N3.4 trillion had been expended on capital projects, which represents over 74 per cent performance when compared to the total capital budget of N4.569 trillion.
She said out of the released N3.4 trillion, N2.98 trillion represents 83 per cent of the provision for ministries, departments and agencies (MDAs’) capital, N369.9 billion for Multi-lateral/Bilateral Project-tied loans, and N49.52 billion as Government Owned Enterprises (GOEs) capital expenditure.
The Minister while assuring that the government would continue to prioritise spending on critical infrastructure in order to sustain the momentum on gross domestic product (GDP), she noted that the 4.2 per cent projected growth in 2022 can only be possible through steady increase in spending on critical infrastructure, such as roads.
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Ahmed said: “I wish to congratulate the DMO for the introduction of the Sovereign Sukuk and for the successes recorded in raising the funds through the product, which now stands at a total sum of N612.557 billion,” the minister said.
In her remarks, the Director General, DMO, Ms. Patience Oniha expressed delight that since the debut N100 billion over Sukuk in September 2017, the DMO had issued three more, getting better each time and bringing the total amount so far raised through the Sukuk window to N612 557 billion.
Oniha noted that the introduction of Sukuk as a source of raising funds for the government has improved road infrastructure across the six geo-political zones.
According to her, the acceptance of Sukuk by investors and the verifiable evidence of its benefits had encouraged some state governments and institutions to raise funds through Sukuk issuance.
Oniha on the last Sukuk issued in December 29, 2021 said the level of investor interest in the product was evident from the subscription of over N865 billion received from diverse investors for the N250 billion offered.
Also speaking at the event, the Minister of Works and Housing, Babatunde Fashola highlighted some of the results achieved with the proceeds of Sukuk since its debut in 2017.
He said the first Sukuk of N100 billion was deployed to 25 roads with a total delivery of 482 kilometers of roads across the country, while the second Sukuk in 2018 of the same amount was deployed to 28 roads and delivered a total of 683 kilometers of roads.
The minister added that the third Sukuk issued in 2020 for N162 billion was deployed to 44 roads with a total of 757 kilometers of roads delivered.
Fashola however noted that: “Many of the roads have been awarded before we came and it was not funded. And each year Sukuk commits to milestone kilometers you must deliver with this money and the managers with the consultants and our people go to sites to monitor and verify before payment is made.
“But another impact of it is that it has helped to create consistent employment for 97 construction and contracting companies who are keeping people at work. We are demanding supply and diesel, bitumen, asphalt, concrete and that is how the money is moving round the economy.”
Ministers from the two other implementing ministries of the N250 billion Sukuk proceeds, the FCT Minister, Mohammed Bello and his Niger Delta Affairs counterpart, Senator Godswill Akpabio were at the event.
N250bn Sukuk Proceeds to Form Part of 2021 Capital Funding, Says FG
National News
Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja
Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja
By: Michael Mike
Nigeria has taken a significant step onto the global stage with the launch of the world’s first International Media and Information Literacy Institute (IMILI), a landmark initiative developed in partnership with United Nations Educational, Scientific and Cultural Organisation (UNESCO).
The institute was officially unveiled on Wednesday in Abuja by the Federal Ministry of Information and National Orientation, positioning Nigeria at the forefront of global efforts to strengthen media literacy, combat misinformation, and promote critical thinking in an increasingly complex digital age.

The establishment of IMILI marks a historic milestone not just for Nigeria, but for Africa and the international community, as it becomes the first UNESCO Category 2 Institute globally dedicated solely to Media and Information Literacy (MIL).
Speaking at the launch, UNESCO Assistant Director-General for Communication and Information, Mariya Gabriel, described the institute as a timely and transformative response to one of the defining challenges of the modern era — ensuring that access to information translates into informed, responsible, and empowered societies.

“In a world where the volume of information continues to grow exponentially, the ability to distinguish between reliable and misleading content has become essential,” she said.
IMILI is expected to serve as a global hub for research, innovation, and capacity development in media literacy. It will provide training for educators, policymakers, media professionals, and young people, equipping them with tools to critically engage with information, counter misinformation, and actively participate in democratic processes.
The institute will also support curriculum development, foster international collaboration, and connect Nigeria to a global network of expertise, reinforcing Media and Information Literacy as a universal public good.
UNESCO commended the leadership of President Bola Ahmed Tinubu for his vision and commitment in bringing the initiative to fruition. It also acknowledged the pivotal role played by the Minister of Information and National Orientation, Mohammed Idris Malagi, whose strategic leadership was described as instrumental in advancing the media literacy agenda in Nigeria.
The organisation further recognised contributions from key stakeholders, including the Nigerian National Commission for UNESCO, the UNESCO Abuja Office, and Nigeria’s Permanent Delegation to UNESCO, whose collaborative efforts ensured the successful establishment of the institute.
By hosting IMILI, Nigeria is sending a strong signal that Africa is not only responding to the challenges of the digital age but is actively shaping global solutions. With its vibrant media landscape, youthful population, and expanding digital ecosystem, the country is seen as uniquely positioned to lead this transformative agenda.
Beyond its institutional significance, the launch of IMILI represents a broader commitment to empowering citizens — not just to access information, but to understand, question, and use it responsibly.
As the institute begins operations, it is expected to serve as a catalyst for strengthening trust, promoting informed decision-making, and advancing democratic values across Nigeria, Africa, and the wider world.
Nigeria, UNESCO Launch World’s First Media and Information Literacy Institute in Abuja
National News
China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity
China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity
By: Michael Mike
The Government of China on Tuesday officially handed over the newly constructed headquarters complex of the Economic Community of West African States in Abuja, in a ceremony marked by strong appeals for unity, deeper integration, and renewed commitment to regional cooperation across West Africa.
The event brought together senior government officials, diplomats, and regional leaders, with speakers consistently framing the project as more than infrastructure—describing it as a strategic symbol of partnership, vision, and collective ambition for the sub-region.
President of the ECOWAS Commission, Omar Alieu Touray, described the occasion as a historic milestone, noting that it coincides with the bloc’s 50th anniversary.
“Today marks an important day for ECOWAS and we should all be glad to be witnesses to this momentous occasion marking the official handover of the New ECOWAS Headquarters Complex to the Commission,” he said, adding that the development comes at an opportune time in the organisation’s integration journey.

Touray clarified that the ceremony represents the completion and handover of the building, while the formal inauguration will take place later in the year. The commissioning is expected to be led by Sierra Leone’s President, Julius Maada Bio, in his capacity as Chairman of the ECOWAS Authority, alongside Nigeria’s President, Bola Ahmed Tinubu, and other heads of state.
Reflecting on the project’s origins, he recalled that the groundbreaking took place in October 2023 with funding support from China amounting to approximately $56.57 million.

“As you may recall, back in October 2023, we convened here for the groundbreaking ceremony of this complex… Today, two years after that initiation, we are gathered for the handover ceremony of this remarkable building,” he said.
Touray commended the speed and quality of delivery, noting: “Considering the time usually taken to complete infrastructure projects of this magnitude and complexity, the completion of this ECOWAS Headquarters Complex within two years is highly commendable and we should all applaud our Chinese brothers and sisters.”
He also extended appreciation to Chinese President Xi Jinping, represented by Ambassador Yu Dunhai, for what he described as a generous contribution to regional development, while acknowledging China’s broader support for ECOWAS peace and security operations, including assistance to the ECOWAS Standby Force.
Touray further thanked Nigerian authorities, including the FCT Minister Nyesom Wike, for their support in facilitating the successful execution of the project.
Chinese Ambassador Yu Dunhai, in his remarks, described the headquarters as a flagship project and a symbol of enduring China-Africa cooperation.
“This headquarter building stands as a milestone—it is China’s flagship aid project for ECOWAS and another headquarters for an international organization,” he said, comparing it to other major Chinese-supported institutional projects on the continent.
Affectionately called the “Eye of West Africa,” the ambassador said the structure was completed after “more than 1,200 days and nights of meticulous craftsmanship,” blending Chinese engineering expertise with West African cultural identity.
“The building harmonizes the excellence of Chinese architectural technique with the unique culture of West Africa,” he said, adding that it will strengthen ECOWAS’ operational capacity and serve as a platform for regional development.
Yu also situated the project within broader diplomatic context, noting that this year marks 70 years of China-Africa relations. He said China continues to support African modernization through initiatives such as the “Ten Partnership Actions,” expanded South-South cooperation frameworks, and zero-tariff access for African exports.
“We remain committed to a demand-driven approach that respects African autonomy and sovereignty, translating our support into tangible actions for Africa’s revitalization,” he said.
He reaffirmed China’s support for ECOWAS and praised its role in regional peace and integration, while also acknowledging Nigeria’s leadership in the partnership.
For Nigeria, the host nation, the project carries deep symbolic weight.
Minister of the Federal Capital Territory, Nyesom Wike, said the occasion represented far more than a physical handover.

“Today is not just about the handover of a building. Today marks the handover of a vision. A vision of partnership. A vision of regional solidarity. A vision of a West Africa that is prepared to build the institutions that will carry its future,” he said.
Wike described the headquarters as “more than concrete, steel, and glass,” calling it “a statement that cooperation still matters” and proof that diplomacy can still deliver tangible results.
He emphasized Abuja’s status as a diplomatic hub, noting: “Abuja is not only the seat of government; Abuja is the diplomatic capital of this nation, a meeting point of nations.”
He added: “Great institutions deserve worthy homes,” describing ECOWAS as a key expression of regional identity and hope.
Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, also framed the handover as a historic and symbolic moment.
“It is with profound honour and a deep sense of history that I stand before you today,” she said, describing the event as more than the commissioning of a building, but “the consolidation of a vision, a reaffirmation of unity, and a renewed commitment to peace and sustainable development.”
She highlighted ECOWAS’ role since 1975 in conflict prevention, peacekeeping, economic integration, and governance, stressing that the new headquarters would enhance institutional efficiency and coordination.
“This new Headquarters therefore symbolizes more than administrative convenience. It is a strategic asset that will enhance institutional effectiveness… and reinforce the capacity of the Commission to respond to emerging regional and global challenges,” she said.
Odumegwu-Ojukwu praised President Tinubu’s leadership in advancing regional integration and commended China for what she called a “remarkable gesture of goodwill,” adding that the project reflects “mutual respect, shared prosperity, and South-South cooperation.”
She also issued a strong call to member states:
“At a time when our region is confronted with complex challenges… our unity is not optional, it is imperative. We must continue to act in concert, speak with one voice.”
Across all speeches, a consistent message emerged: while the new headquarters represents a major infrastructural achievement, its true value will depend on the political unity and collective resolve of West African states.
As the ceremony concluded, leaders underscored that the building is not an end in itself, but a platform for the next phase of regional integration—one defined not by construction, but by cooperation.
China Hands Over Landmark ECOWAS Headquarters in Abuja, as Leaders Call for Stronger West African Unity
National News
NDLEA, Customs Forge Alliance to Tackle Drug Trafficking
NDLEA, Customs Forge Alliance to Tackle Drug Trafficking
By: Michael Mike
The National Drug Law Enforcement Agency (NDLEA) and the Nigeria Customs Service (NCS) have formalized a strategic partnership aimed at strengthening border security and combating drug trafficking across Nigeria.
The agreement was reached during a high-level meeting at the NDLEA headquarters in Abuja on Monday, where a joint communiqué was signed by NDLEA Chairman, Buba Marwa, and the Comptroller-General of Customs, Bashir Adewale Adeniyi.

Both agencies acknowledged the growing sophistication of transnational organized crime, stressing that a coordinated institutional response is essential to effectively disrupt illicit drug networks.
Under the new framework, NDLEA and Customs will enhance intelligence sharing through a secure and structured platform designed to enable early detection and prevention of criminal activities. The collaboration will also see the deployment of joint task forces at key operational points, including seaports, airports, and land borders.
The agreement further seeks to eliminate operational overlaps and reduce inter-agency friction by clearly defining roles and respecting each agency’s legal mandate. A Standing Inter-Agency Committee will also be established to promptly address disputes and ensure smooth coordination.
Speaking on the development, both Marwa and Adeniyi emphasized that the partnership represents a critical step toward strengthening Nigeria’s security architecture while maintaining the efficiency of legitimate trade operations.

They reiterated their commitment to professionalism, mutual respect, and national interest, noting that aligning the capabilities of both agencies would create a more effective barrier against the trafficking of illicit substances.
The collaboration is expected to significantly boost enforcement efficiency at Nigeria’s entry and exit points, reinforcing ongoing efforts to curb drug-related crimes and safeguard public safety.
NDLEA, Customs Forge Alliance to Tackle Drug Trafficking
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