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FCTA Sets Up Task Force On C Of O Issuance

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The FCT Minister, Nyesom Wike, has inaugurated a task force on the issuance of Certificate of Occupancy (C of O) for mass housing and the recovery of land use contravention fees.

Inaugurating the task force on Tuesday, the minister said the action was to ensure that each of the houses in mass housing estates has its own C of O and pay for it.
He lamented that virtually all residential areas have been turned to commercial, adding that something must be done about it.
He said that those who contravened the Land Use Act must be recertified and pay penalties.
He explained that those given approval for residential buildings have converted to commercial structures, while those given for commercial also contravene by building residential houses.
The minister said that government agencies in charge of land administration in the FCT were part of the problem, adding that the agencies were included in the task force to solve the problem they created.
He said: “Part of the problem we are having is the agencies: development control is part of the problem; the land registry is part of the problem; Abuja Geographic Information System AGIS is part of the problem.
“That is why they are part of the task force to face the problem they have caused and solve the problem. No outsider will do it.
“So, you must be diligent. Of course, you know, I will monitor what you are doing, and this assignment will not last more than one month from today.
“Whatever fund you require, let us know, Zenith bank will provide you the fund, but I must approve the fund.
“You write to me, and I will tell Zenith Bank what I need,” the minister said.
He asked the task force to open two dedicated bank accounts for the assignment: one for non-compliance with the land use act and the other for the C of O.
He also asked the task force to include people who were given land by the Area Councils but without C of O, adding that those concerned should be asked to apply and be informed about the amount to pay.
Wike explained that Abuja depends on Internally Generated Revenue to execute projects in the FCT.
“I am not interested in who did not comply and I don’t want anybody to write to me that the task force came. All I need is results. I don’t want excuses,” he added.
 Mr Michael Chinda, Senior Special Assistant to Wike on lands, urban and regional planning will serve as the chairman of the task force, while the Executive Secretary, Federal Capital Development Authority, Mr Shehu Ahmad would serve as the secretary.
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Dangote Industries pledge to make Nigeria self-sufficient in cement, petroleum, others

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April 7, 2025

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Dangote Industries Ltd. says it would ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum production.

The Regional Sales Director, Southeast, Dangote Cement, Dr Abayomi Shittu stated this in an interview with the News Agency of Nigeria (NAN) in Enugu on Sunday at the ongoing 36th Enugu International Trade Fair.

“Dangote Industries Ltd. is into cement, sugar, salt, poly products, real estate, agriculture, logistics, telecommunications, steel, oil, and gas among other businesses.

“Three of its subsidiaries Dangote Cement Plc., Dangote Sugar Refinery Plc. and Dangote Salt, trading under the name of NASCON Allied Industries Plc. are listed on the Nigerian Stock Exchange.

“Our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria.

“Dangote Sugar Refinery, through its out-grower scheme, has provided jobs for thousands of farmers in its host communities.

“The coming of Dangote Fertiliser has to a great extent helped to change the face of agriculture in Nigeria while the Dangote Petroleum Refinery, will drive the development of ancillary industries.

“We recruit graduates of engineering and other technology-based courses and train them in many aspects of industrial operations,’’ Shittu said.

He noted that trade fairs organised by the Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA) were unique because Enugu State had about the largest concentration of industries in the Southeast and South-South geopolitical zones.

He added that ECCIMA’s trade fairs remained avenues for industries to connect with customers in the Southeast and in the adjoining zones. (NAN)

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Nigeria’s Public Debt Rises 48% To N144.67trn In 2024

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April 6, 2025

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Nigeria’s public debt rose by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024 from N97.34 trillion ($108.23 billion) in 2023.

The Debt Management Office (DMO) disclosed this in its latest public debt profile report.
The debt stock consists of external debt of N70.29 trillion ($45.78 billion) serviced with $4.66 million and domestic debt of N74.38 trillion ($48.44 billion).
The report showed that the country’s external debt increased by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.

Domestic debt also grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.
The report further indicated that the Federal Government’s domestic debt component rose by 32 per cent YoY to N70.41 trillion from N53.26 trillion in 2023.
But the domestic debt of states and the Federal Capital Territory declined YoY by 32 per cent to N3.97 trillion in 2024 from N5.86 trillion in 2023.

The rise in public debt can be attributed to fluctuating trends in exchange rates amidst changes in global economic conditions.

The sharp increase, particularly in external debt, highlights the nation’s vulnerability to exchange rate volatility and changes in global economic conditions.
With the continued depreciation of the naira, the cost of servicing foreign debt could escalate, adding pressure on the country’s financial resources.

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NNPCL Names New Senior Management Team

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2 days ago

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April 5, 2025

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The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight -man Senior Management Team.

The appointment followed the recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors.

Disclosing this in a statement on Friday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the appointments all take immediate effect.

“Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday,” he stated.

“The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group Chief Operating Officer; Adedapo Segun as Group Chief Financial Officer; and Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy.

“Other members of the team are: Udy Ntia as Executive Vice President Upstream; Mumuni Dangazau as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President Business Services; and Adesua Dozie, as Company Secretary & Chief Legal Officer. All appointments are with immediate effect.”

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