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We Are Building Viable, Globally Competitive Economy, Says President Tinubu

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We Are Building Viable, Globally Competitive Economy, Says President Tinubu

** Lauds First Bank’s legacy of innovation, adaptability at groundbreaking for new headquarters

By: Our Reporter

President Bola Ahmed Tinubu has said his administration is working assiduously to create a system that is sustainable and globally competitive for Nigerian banks and other financial institutions to thrive.

He noted that government policies under his administration are motivated by the reality that the nation no longer has the luxury of time to postpone its economic transformation.

President Tinubu, who spoke on Wednesday when he performed the groundbreaking ceremony for a new state-of-the-art headquarters of First Bank of Nigeria at Eko Atlantic City in Lagos State, observed that banks can only prosper under a thriving economy.

Represented at the event by his deputy, Vice President Kashim Shettima, the President however pointed out that what his “administration does and sets out to accomplish rests on the cooperation and capacity of” the financial institutions.

“Banks are the engines of economic growth, and we owe it to them to champion a system that guarantees sustainability and global competitiveness. Our expectation is for our banks to excel, to expand beyond our shores, and to earn their place among the world’s most viable and profitable enterprises,” he stated.

President Tinubu maintained that his administration is working to create an enabling environment for businesses to flourish despite assuming office at a time that required difficult but necessary decisions to stabilise the nation’s economy.

He said, “We assumed office at a time that demanded bold, progressive thinking—a time that called for difficult but necessary decisions to stabilise our fiscal and monetary landscape. Our policies are inspired by the reality that we can no longer afford to postpone our economic transformation.

“This administration is committed to creating an enabling environment for businesses to flourish, and I assure you that you have a partner in this government. We are here to climb the hills of progress with you.”

The President commended First Bank for standing the test of time, saying the secret of the bank’s steadfastness, legacy of innovation and adaptability lies in the art of reinvention.

“From the Bank of British West Africa to Standard Bank of West Africa and, finally, to this 130-year-old success story, First Bank has remained a towering institution, outliving disruptions and redefining banking through the decades.

“In an industry where the fate of many banks is sealed in the dusty pages of history, surviving—let alone thriving—demands more than just calculated risks; it takes ambition, and the brilliance of refined minds. I join you here today to celebrate a legacy of innovation and adaptability that has kept First Bank ahead of the curve,” he added.

President Tinubu congratulated the board and management of First Bank for investing in a new head office, noting that it is a reassurance to the bank’s “customers, shareholders, and the government that Nigeria’s oldest financial institution is not resting on its laurels.”

He continued: “I understand all too well that history demands the best of us. The ability to manage risk is what distinguishes great banks from transient institutions.

“This groundbreaking ceremony is not just about laying the foundation for a new edifice; it testifies to First Bank’s commitment to reinvention—to adapting to the realities of our time while staying true to its heritage.

“The decision to establish this state-of-the-art headquarters in Eko Atlantic City is symbolic of a vision that extends beyond the present, positioning First Bank as a financial powerhouse in Nigeria and beyond.”

In his remarks, Lagos State Governor, Babajide Sanwo-Olu, thanked Vice President Shettima for the work he is doing for the country in support of the President.

The Governor poured encomiums on President Bola Tinubu, recalling that he was in his cabinet when the idea to create Eko Atlantic City was birthed, many of the cabinet members expressing doubt about the possibility to create a dry ground out of the bar beach.

“We want to set Lagos on a trajectory of becoming the centrepiece of finance and commerce not only in Nigeria but Africa and beyond. It will be Africa’s mega city that is safe and secure to take the mantle of leadership in the financial sector.”

Sanwo-Olu thanked the Chairman of First Bank of Nigeria (FBN) Holdings, Femi Otedola, noting that while he is economical with his words, each statement he makes carries significant weight.

Also speaking, Ogun State Governor, Prince Dapo Abiodun, said it was an honour to witness what could be aptly described as an iconic building and a significant milestone for the First Bank.

He noted that the building further redefines First Bank and its resilience in the banking industry, saying “this is bold, audacious, what tenacity is all about and First Bank has always blazed the trail.”

According to him, First Bank has since 1894 evolved into a bank with well over seven hundred branches in Nigeria and worldwide.

On his part, Chairman of First Bank Holdings, Chief Otedola, expressed gratitude and excitement over the groundbreaking ceremony, just as he eulogized President Tinubu “for his unalloyed support for this great project.”

Otedola also praised Vice President Shettima for being at the forefront of encouraging development in the country, even as he thanked the Lagos State Governor for his unwavering support and creating a conducive atmosphere for doing business in the state.

He also expressed gratitude to customers of First Bank, the regulators, especially the Governor of Central Bank of Nigeria for stabilising the activities of the services industry in the country, among others.

Welcoming the dignitaries and other guests to the ground breaking event, Managing Director and CEO of First Bank Plc, Mr. Olusegun Alebiosu, said since its establishment in 1894, First Bank had been at the forefront of Nigerian banking evolution, stressing that the journey of the bank has been defined by accountability, transparency and unwavering commitment to customers.

“It is a legacy that stood the test of time – over 13 decades, engulfing the financial landscape of our great nation and continuously shaping the business of banking in Nigeria and beyond,” he stated.

In his goodwill message, the chairman of Dangote Group, Alhaji Aliko Dangote, commended the Chairman of First Bank Group and his Board members “for building the massive structure,” describing it as always being first while others follow.

He said he is being challenged to join First Bank in Eko Atlantic City, noting, however, that after delivering the refinery, he needed to rest but will join Eko Atlantic City in the near future.

We Are Building Viable, Globally Competitive Economy, Says President Tinubu

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Nigeria Launches Nationwide Drive to Safely Manage Small Battery Waste

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Nigeria Launches Nationwide Drive to Safely Manage Small Battery Waste

By: Michael Mike

Nigeria has taken a major step toward tackling a fast-growing but often overlooked environmental threat with the launch of a national initiative to ensure the safe collection and recycling of small-sized waste batteries.

Unveiled at the Federal Ministry of Environment’s Green Building in Abuja, the programme introduces a structured system for the environmentally sound management of discarded household batteries—ranging from button cells in wristwatches to AA and AAA batteries in remote controls, as well as lithium-ion units powering mobile phones and other portable devices.

Speaking at the event, Minister of Environment, Balarabe Lawal, described the initiative as a decisive intervention to close a long-standing gap in Nigeria’s waste management system.

He noted that while large batteries such as those used in vehicles often attract recycling value, smaller batteries are routinely ignored and improperly disposed of, posing serious risks to both human health and the environment.

“These small-sized batteries are deceptively dangerous,” the minister said. “They are easily discarded, yet they contain toxic substances that can contaminate our soil, water, and food systems. This initiative is about protecting lives—especially those of women and children who are most vulnerable to the impacts of environmental pollution.”

At the core of the programme is the deployment of specially designed collection receptacles across strategic locations in the Federal Capital Territory, including markets, schools, offices, and motor parks. The goal is to make safe disposal accessible at the point of use, ensuring that hazardous battery waste does not end up in dumpsites or informal recycling channels.

The initiative is being implemented in partnership with the Alliance for Responsible Battery Recycling (ARBR), the Producer Responsibility Organisation for Nigeria’s battery sector under the Extended Producer Responsibility (EPR) framework.

Established in 2019, ARBR is tasked with coordinating the collection, transportation, and environmentally compliant recycling of battery waste nationwide.

Providing an overview of the project, ARBR representatives highlighted the growing volume of small battery waste driven by increased technology use and energy access across Nigeria. Despite their widespread use, these batteries often enter general waste streams at the end of their lifecycle, releasing hazardous materials such as cadmium, mercury, nickel, lithium, and lead into the environment.

“Collection is the foundation of environmentally sound management,” ARBR stated. “Without it, the entire value chain—from transportation and storage to treatment and recycling—breaks down. This project is designed to ensure that these batteries are captured early and directed into safe, regulated systems.”

Beyond collection, the programme establishes a coordinated downstream process involving the evacuation of collected batteries to central aggregation hubs, from where they will be transported to licensed recycling facilities, including export where necessary under national regulations. Key partners, including the Abuja Environmental Protection Board (AEPB) and the Waste Pickers Association of Nigeria (WAPAN), are expected to play critical roles in ensuring the system’s efficiency and sustainability.

The initiative is anchored on Nigeria’s National Policy on Battery Waste Management (2022) and the National Environmental (Battery Control) Regulations (2024), which mandate the responsible lifecycle management of batteries in line with global environmental standards.

In a goodwill message, the Director General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor, described the launch as a strong demonstration of Nigeria’s commitment to meeting its obligations under international environmental agreements, including the Basel Convention on hazardous waste.

He emphasized that the rapid proliferation of battery-powered devices has created an escalating waste stream that demands urgent and coordinated regulatory action.

“This is not just a technical exercise,” Barikor said. “It is a declaration of intent that Nigeria is ready to protect public health and preserve its ecosystems through science-based and enforceable solutions.”

He further noted that the initiative builds on groundwork laid under the PROBAMET project, which helped map informal sector activities, identify infrastructure gaps, and raise awareness among stakeholders in the battery value chain.

Stakeholders at the event commended the Federal Ministry of Environment for its leadership, while also acknowledging the role of international development partners in providing technical and financial support for the project.

Experts say the initiative could also unlock economic opportunities by integrating informal waste collectors into formal systems and advancing Nigeria’s circular economy agenda—where waste is treated as a resource rather than a burden.

As the programme rolls out, officials are calling on Nigerians to adopt responsible disposal habits, stressing that the success of the initiative depends not only on infrastructure but also on public participation.

“Every battery properly disposed of is a life protected and an ecosystem preserved,” the minister said. “This is the beginning of a nationwide movement toward cleaner, safer environmental practices.”

The launch marks what stakeholders describe as a critical turning point in Nigeria’s approach to hazardous waste management, with expectations that the model could be expanded beyond the Federal Capital Territory to other parts of the country in the near future.

Nigeria Launches Nationwide Drive to Safely Manage Small Battery Waste

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US. Embassy Abuja Seals Landmark Tech Partnership with Ilorin Innovation Hub

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US. Embassy Abuja Seals Landmark Tech Partnership with Ilorin Innovation Hub

By: Michael Mike

The U.S. Embassy Abuja has signed a three-year Memorandum of Understanding (MOU) with the Ilorin Innovation Hub, launching its first public-private partnership outside the American Spaces Network and signaling a strategic expansion of U.S. engagement in Nigeria’s fast-growing technology ecosystem.

The agreement, formalized at a ceremony in Abuja, is set to deepen collaboration in artificial intelligence (AI), science, technology, engineering, and mathematics (STEM), as well as professional development, particularly targeting young innovators and tech professionals in Kwara State.

Speaking at the event, U.S. Embassy Public Diplomacy Counselor Lee McManis described the partnership as a significant step toward strengthening innovation-led economic ties between Nigeria and the United States. He noted that Kwara is steadily emerging as a technology hub, attracting growing interest from American companies eager to invest, compete, and collaborate within the region’s evolving digital economy.

Under the terms of the MOU, both parties will roll out a series of programs showcasing American leadership in technology and innovation. These initiatives will include business English training, STEM-focused education, and capacity-building workshops designed to align Nigerian talent with the demands of U.S. industries.

The partnership is also expected to create new pathways for knowledge exchange, entrepreneurship, and workforce development, reinforcing broader efforts to position Nigeria as a competitive player in the global tech landscape.

Officials say the initiative reflects a shared vision centered on innovation, education, and opportunity as drivers of sustainable economic growth. The collaboration is poised to not only empower local talent but also strengthen bilateral relations through practical, skills-based engagement.

With this move, the U.S. Embassy is extending its footprint beyond traditional platforms, embracing targeted partnerships that directly impact emerging innovation ecosystems across Nigeria.

US. Embassy Abuja Seals Landmark Tech Partnership with Ilorin Innovation Hub

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Rebuilding the North-East: Inside Nigeria’s Largest Post-Conflict Recovery Experiment

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Rebuilding the North-East: Inside Nigeria’s Largest Post-Conflict Recovery Experiment

How the NEDC is attempting to turn years of devastation into a pathway for long-term development

By Michael Olukayode

For more than a decade, Nigeria’s North-East has remained a symbol of prolonged conflict and humanitarian collapse. The insurgency led by Boko Haram and its breakaway factions did far more than disrupt security—it dismantled entire communities, shattered economic systems, and altered the social and cultural foundations of a region once anchored by farming and cross-border trade.

The human cost has been staggering. More than 350,000 people are estimated to have died directly and indirectly from the conflict. Over 2.5 million individuals were forced from their homes, while at the height of the crisis, about 8.4 million people required urgent humanitarian support. Entire settlements across Borno, Adamawa, and Yobe were destroyed, leaving behind a region marked by displacement and ruin.

A System Built from Collapse

The scale of destruction prompted the establishment of the North-East Development Commission (NEDC) in 2017 under former President Muhammadu Buhari. It was created not simply as a relief agency, but as a long-term institutional response to structural breakdown across an entire region.

Early post-conflict assessments placed the cost of destruction at over $9 billion. Infrastructure losses were extensive: thousands of homes were destroyed, more than 1,400 schools were damaged or completely wiped out, and in some areas over 70 percent of health facilities became unusable. The agricultural sector—long the backbone of the regional economy—collapsed almost entirely, deepening poverty and food insecurity.

To coordinate recovery, the Commission was tasked with implementing the North-East Stabilisation and Development Master Plan (NESDMP), a blueprint designed to move the region from emergency humanitarian response into structured reconstruction and sustainable development.

From Emergency Response to Large-Scale Reconstruction

Since beginning operations, the NEDC has implemented interventions worth hundreds of billions of naira, funded through federal allocations and supported by development partners.

Its activities span all six states of the region—Borno, Adamawa, Yobe, Bauchi, Gombe, and Taraba—where thousands of projects have either been completed or are ongoing.

Across its portfolio, the Commission has:
• Built and rehabilitated thousands of housing units for displaced families
• Executed more than 1,000 infrastructure projects, including roads, schools, and healthcare centres
• Distributed millions of relief items during peak humanitarian emergencies
• Supported agricultural programmes reaching hundreds of thousands of farmers

The Managing Director/Chief Executive Officer of the Commission, Mohammed Goni Alkali, explained that the institution is now deliberately evolving its focus.

“We are transitioning from humanitarian interventions to sustainable development,” he said. “The priority is building systems that can endure beyond immediate recovery.”

He added that reconstruction must be understood beyond physical structures.

“It is not only about rebuilding infrastructure. It is about restoring livelihoods, rebuilding institutions, and restoring hope to communities,” Alkali said.

Gradual Return to Normalcy Across Communities

On the ground, signs of recovery are beginning to emerge across the region, though unevenly.

Large numbers of internally displaced persons have started returning to reconstructed communities, easing long-standing pressure on overcrowded camps. Schools that were destroyed or abandoned during the peak of the insurgency are being rehabilitated and reopened, restoring access to education for thousands of children.

Healthcare delivery has also improved, with rebuilt and newly equipped facilities expanding access, particularly in rural areas that were previously cut off. Road reconstruction projects are reconnecting isolated communities, improving movement, trade, and access to services.

The Governor of Borno State, Professor Babagana Umara Zulum, acknowledged the role of the Commission in supporting recovery efforts.

“The NEDC has played a critical role in supporting the rebuilding of communities and restoring hope to our people,” he said.

Restoring the Economic Lifeline

Before the insurgency, agriculture was the dominant economic activity in the North-East, employing a large portion of the population. The conflict disrupted farming cycles, displaced rural communities, and left vast tracts of farmland abandoned.

Recovery efforts are now focusing on reversing that collapse. Through the distribution of seeds, fertilisers, and farming equipment, as well as investments in irrigation and dry-season farming, agricultural production is gradually resuming. Small businesses and cooperatives are also receiving support to stimulate local economies.

According to Alkali, economic recovery remains central to the Commission’s strategy.

“Without livelihoods, recovery cannot be sustained,” he said. “Economic empowerment is therefore at the core of our interventions.”

Moving Away from Long-Term Aid Dependence

One of the most significant shifts emerging in the region is the gradual transition from humanitarian dependency to self-reliance.

Although millions of people still require assistance, returning communities are increasingly rebuilding their own economic and social systems as stability improves.

Former United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, noted that recovery efforts are beginning to produce measurable improvements.

“There is clear evidence that living conditions are improving and that basic services are being restored,” he said.

Security Gains and Lingering Vulnerability

Despite notable progress in stabilisation, the North-East remains fragile. Military operations have significantly degraded insurgent capabilities, but sporadic attacks continue in some areas.

The Chairman of the Governing Board of the NEDC, Major General Paul Tarfa (rtd.), stressed that development must consolidate security achievements.

“Security gains must be reinforced with development initiatives. Only then can we achieve lasting peace,” he said.

Persistent Gaps in the Recovery Process

Even with extensive interventions, major challenges remain. Millions of residents are still dependent on humanitarian assistance, unemployment among young people remains high, and environmental pressures—including climate-related shocks—continue to threaten agricultural recovery.

In addition, funding limitations remain a key constraint, with the scale of needs far exceeding available resources.

The Managing Director acknowledged these gaps but reaffirmed the Commission’s commitment.

“The level of devastation is enormous, but we are committed to working with all stakeholders to deliver sustainable recovery,” Alkali said.

A Region Still in Transition

The North-East today exists in a complex state between crisis and recovery. It remains one of Nigeria’s most vulnerable regions, but also one of its most ambitious reconstruction theatres.

What is unfolding is a slow transformation: from destruction to rebuilding, from dependency to resilience, and from emergency survival to structured development.

Former United Nations Resident and Humanitarian Coordinator in Nigeria, Matthias Schmale, noted that recovery efforts are beginning to produce measurable improvements.

“There is clear evidence that living conditions are improving and that basic services are being restored,” he said.

Observing during his tenure in the country that: “The transition is visible, but sustaining it will require long-term investment and strong collaboration.”

Conclusion: Beyond Reconstruction

The work of the North-East Development Commission goes beyond rebuilding damaged infrastructure. It represents an attempt to reimagine post-conflict recovery at scale—linking humanitarian relief with long-term development planning.

From housing and healthcare to education and livelihoods, the foundations of a new regional reality are gradually taking shape.

Yet, as stakeholders consistently emphasise, the true measure of success will not be the number of projects completed, but whether the region can sustain stability, dignity, and opportunity over time.

In the North-East, the story of recovery is no longer only about survival.

It is about building a future that once seemed impossible—and ensuring it endures.

Rebuilding the North-East: Inside Nigeria’s Largest Post-Conflict Recovery Experiment

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