Business

Tinubu Courts Global Investors in Paris, Promises Fiscal Discipline, Policy Stability and Bold Reforms

Published

3 months ago

May 11, 2026

Preport

President Bola Ahmed Tinubu has presented Nigeria as an emerging economic powerhouse, assuring global investors of his administration’s commitment to fiscal discipline, transparency, and sustained economic growth.

Speaking at a high-level meeting with international investors in Paris, the President highlighted ongoing economic reforms and emphasized the need for policy stability and accountability in driving long-term development.

During the engagement, Taiwo Oyedele, Coordinating Minister of the Economy, disclosed that Nigeria recorded an 11.2 percent growth in Gross Domestic Product (GDP) in dollar terms in 2025. He noted that the performance supports the country’s ambition of achieving a $1 trillion economy by 2030.

Oyedele added that translating reforms into tangible benefits for citizens remains a key short-term priority, while assuring investors that the government would begin publishing financial data on a quarterly basis to enhance transparency.

Also speaking, Patience Oniha, Director General of the Debt Management Office, reassured stakeholders of the government’s commitment to sustainable debt management and prudent financing strategies.

The meeting brought together major global investment firms, including Amundi led by Valerie Baudson, Citibank, as well as BlueCrest, Prudential Global Investment Management, Mesarete Capital, Kirkoswald Capital, Principal Finisterre, and Ninety One.

President Tinubu explained that his administration’s reform agenda is focused on eliminating economic distortions, stabilising macroeconomic indicators, and fostering inclusive growth. He also pledged to deepen transparency in the oil sector and implement comprehensive security strategies, including police decentralisation and efforts to curb terrorist financing.

“The focus remains on policy stability and diligent execution to ensure these strategic shifts translate into concrete benefits for all Nigerians,” the President stated.

Some investors at the meeting expressed optimism about Nigeria’s economic outlook, commending the government’s reform efforts.

Responding to a question on post-2027 plans, Tinubu assured stakeholders of continuity in economic policies, with sustained emphasis on fiscal discipline and transparency.

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Business

Plateau Strengthens Technical Education, Prepares NITT Centre for September Take-Off

Published

21 minutes ago

August 19, 2026

Preport

The Plateau State Government has taken a major step towards expanding access to specialised transport education and practical technical training with the handover of facilities at the Government Science Technical College, Bukuru, to the Nigerian Institute of Transport Technology (NITT), Zaria.

The facilities, comprising part of the college’s Mechanical Workshop, five classrooms and a residential quarter, will serve as the NITT Learning Centre and Compressed Natural Gas (CNG) Conversion Centre, providing students, technicians and professionals with opportunities to acquire practical skills in modern transportation technology, CNG conversion and logistics.

The Plateau State Government was represented at the handover ceremony by the Commissioner for Transport, Hon. Davou Gyang Jatau, who said the initiative reflects the administration’s commitment to strengthening technical education, skills development and the adoption of modern transportation technologies.

Jatau said the Mechanical Workshop would provide a practical environment for CNG conversion training, while the classrooms would support theoretical instruction, professional development and capacity-building programmes.

He added that the residential accommodation would improve the welfare of personnel and learners who would be associated with the centre.

The commissioner expressed confidence that NITT would make effective and sustainable use of the facilities to expand educational and technical opportunities for people in Plateau State.

“We are confident that NITT Zaria will make effective and sustainable use of these facilities for the benefit of Plateau State and Nigeria at large.”

Also speaking, the Permanent Secretary, Ministry of Transport, Mrs Jummai Shekarau, described the handover as an investment in technical education, innovation and human capital development, rather than simply the provision of infrastructure.

She said the CNG Conversion Centre would provide young people with practical skills that could improve their employability and enable them to take advantage of opportunities emerging in the CNG value chain.

According to her, the centre would also encourage entrepreneurship and job creation while supporting the transition from petrol and diesel to cleaner and more affordable energy alternatives.

The Registrar of NITT, Zaria, Dr Maina Williams Tarfa, commended the Plateau State Government for providing facilities beyond what the institute had initially requested.

Tarfa said the intervention would enable NITT to establish a strong educational presence in Plateau State and bring specialised transport training closer to residents.

He expressed confidence that the centre would commence operations by September, providing training opportunities for local government technicians and other professionals across the state.

He explained that NITT would introduce programmes including Advanced Diploma, Graduate Diploma and Master’s programmes in Transport and Logistics, while deploying its technical experts to deliver quality training and practical services.

Tarfa said the centre would help bridge the gap between theoretical education and practical skills by giving learners direct exposure to modern transport technologies.

Dr Sani Barau, Special Adviser to the Director General/Chief Executive of NITT, said the handover marked the transition from planning to implementation after concerted efforts to secure and prepare the facilities.

Barau stressed the need for a clear and speedy activation plan to ensure that the centre becomes operational as soon as possible.

He said the initiative would involve local technical stakeholders, create investment opportunities and strengthen the skills base required for the development of Plateau State’s transport sector.

The officials subsequently toured the facilities to inspect the progress of rehabilitation works at the institution ahead of the planned commencement of operations in September.

The establishment of the NITT Learning Centre is expected to strengthen technical and vocational education in Plateau State, giving students, technicians and professionals access to practical training and advanced qualifications in transport, logistics and emerging vehicle technologies.

Business

Africa’s biggest bank targets stake in OPay ahead of IPO

Published

4 hours ago

August 19, 2026

Preport

Africa’s largest bank by assets, Standard Bank Group is in negotiations with Nigerian fintech company OPay ahead of the latter’s planned initial public offering (IPO) in the United States.

OPay is working with Citigroup, Deutsche Bank AG and JPMorgan Chase & Co to help list the company in New York, which is expected to take place later in 2026, according to Bloomberg.

The amount Standard Bank intends to invest and the stake it is seeking in OPay remain unknown as the fintech, backed by SoftBank Group Corp and Sequoia Capital, targets a US IPO valuation of $4 billion.

The potential investment in OPay followed Standard Bank Group’s disclosure that it plans to increase its investments in companies across Africa in June.

The lender said it would deploy $15.4 billion to tap opportunities in Nigeria and other key markets across the continent.

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Since it was created in 2018, OPay has grown into one of Nigeria’s largest digital financial platforms, offering payment, savings, credit and other financial services as a mobile money operator.

In previous years, it has expanded beyond Nigeria into emerging markets across Africa and Asia, including Indonesia, Pakistan, and Egypt.

OPay is one of Nigerian fintech companies, including Moniepoint and Flutterwave, that have raised funding through foreign means over the years to finance growth and expand their operations beyond the continent.