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Afreximbank to Support Nigeria’s Digital Switch-over Project

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By Joseph Amah, Abuja

The African Export-Import Bank (Afreximbank) says it will put up a financial mechanism to ensure the completion of Nigeria’s Digital Switch Over (DSO) project before the end of the year.
Nigerian news agency (NAN) reports that Afreximbank president, Benedict Oramah, disclosed this in Cairo, Egypt, when Lai Mohammed, Minister of Information and Culture, led a team of DSO stakeholders on bilateral discussions on the project.


In April 2021, the National Broadcasting Commission (NBC) launched free set-top boxes as part of the digital switchover (DSO) in Lagos.
The initiative was to enable millions of Nigerians who cannot afford the subscriptions of Pay-TV platforms to enjoy digital television with good content from 60 channels.

Oramah said Afreximbank was impressed by the presentation and will make Nigeria a model for other African countries for DSO project financing.
“The move toward digital television is global, and it was impressive to see the seriousness with which the minister has been pursuing this,” he said.
“I have had several meetings with him in France, Nigeria, and he has come here with a very powerful delegation involving all the stakeholders.
“What we are looking out to do is to work with all the stakeholders, particularly the private sector, to put a financing mechanism in place to ensure that Nigeria saves more than $400 million of subsidy that would have been applied.
“When we are able to do this before the end of the year, the Nigerian government will benefit because we are going to free the spectrum that will be now sold for about two billion dollars to telecommunication companies.
“We assure you that we will put in place the financial structure that will work because we know that if we do it well in Nigeria, other African countries pursuing the same goal will take a cue from there.”
Oramah added that supporting the DSO project would create a platform that would accelerate the growth of Nigeria’s creative industry.
On his part, Mohammed noted that the creative industry is key in the diversification of Nigeria’s economy because, after agriculture, it employs a larger number of people, mostly women and the young population.
IHe said the project would also bridge the digital divide by establishing more equitable access, connecting the unconnected at the underserved and remote communities.
The minister recalled that at the beginning of the programme, the model adopted by the government, which was subsidy driven was not sustainable.
“When the programme started, government subsidised the STB, which was bought from the manufacturers for $30 per box and sold to consumers at $10 per box,” he said.
“Government was also paying the signal distributors and the middleware providers, but the subsidy regime can no longer be sustained.
“Right now, the government is not going to give any financial support again to the project, and that is why we have reengineered and rejigged the programme in a manner that it will be commercially viable.
“Government will only give support to the project in the areas of regulations, advocacy and formulation of policies.
“For instance, we have already amended the Broadcasting Code to protect local manufacturers, advertisers, and channel owners.”
Chairman of STB Manufacturers in Nigeria,  Godfrey Ohuabunwa,who presented the credit requirement to the Afreximbank, said they would require a total of $165 million.
According to him, $125 million is expected to fund an initial five million STB from the total of 20 million boxes needed in five years.
He said the signal distributors would require $30 million as well as $10 million for marketing and promotion.

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BUSINESS

FG Inaugurates CNG Buses to Boost Staff Welfare

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The Federal Government has reiterated its commitment to institutional performance and staff welfare with the inauguration of Compressed Natural Gas (CNG) buses at the Federal Ministry of Finance in Abuja

This was contained in a statement by the Director, Information and Public Relations of the ministry, Mohammed Manga.

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, while inaugurating the buses, announced the reintroduction of essential provisions for the staff.

Edun described the move as part of a broader push to energise the ministry’s workforce and improve operational efficiency.

He said that the ministry’s internal strength was vital to delivering Nigeria’s broader economic reform agenda.

“This ministry is the engine room of national transformation and that engine must be well-fuelled,’’ he said.

He said that the buses were acquired under the presidential initiative on CNG, which intends to ease staff transportation while advancing the country’s shift to cleaner, cheaper energy sources.

The minister said that the initiative aligned with the ministry’s values of fiscal prudence, transparency and environmental responsibility.

Edun underscored the critical role of staff welfare in delivering Nigeria’s economic reform agenda.

He announced the revival of monthly welfare provisions to staff, a practical gesture aimed at fostering morale and stability as the ministry leads the charge on macroeconomic reform.

The Permanent Secretary of the Ministry, Lydia Jafiya, urged the staff to remain committed, disciplined and professional as the ministry continues to steer the country through a period of economic transition.

“As the country pursues tough but necessary policy shifts ranging from treasury digitalisation to market stabilisation, the ministry’s internal unity and external credibility remain pivotal to achieving inclusive growth and restoring investor confidence,” she said.

Jafiya also commended the minister’s leadership and hard work.

The Chairman of the Presidential Initiative on CNG, Ismaeel Ahmed, reiterated the programme’s mission to mainstream cleaner transport across government institutions and stimulate local industrial value chains. 

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FCCPC Warns Traders against Price Inflation, Substandard Goods

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The Federal Competition and Consumer Protection Commission (FCCPC) has issued warning to traders across Lagos State to cease artificial price inflation and ensure the authenticity and safety of their goods.

The Executive Vice Chairman and Chief Executive Officer of FCCPC, Tunji Bello gave the directive at a Market Engagement Forum organised by the commission in Lagos.

Bello, represented by Bridget Etim, Principal Consumer and Business Education Officer, FCCPC, underscored the commitment of the commission to fostering fair competition and safeguarding consumer rights, as enshrined in the Federal Competition and Consumer Protection Act (FCCPA) 2018.

He reminded all businesses, irrespective of their scale or operational setting that they are subject to the provisions of this law.

Bello said that findings from recent FCCPC operations included the discovery of expired rice re-bagged and sold as premium brands at Daleko Market.

He condemned such “wrong and illegal” practices, emphasising the inherent risks to public health and the damage inflicted on the reputation of honest traders.

FCCPC’s intensified engagement extended to major markets in Lagos, namely Mile 12 and Alaba.

At Mile 12, Lagos’s largest food hub, the commission tackled issues of tampered scales, under-weighing, the repackaging of spoilt produce, and suspected price-fixing of essential staples like rice, pepper, and yam.

Similarly, at Alaba International Market, a prominent electronics hub, the FCCPC addressed concerns related to the sale of counterfeit appliances, misleadingly labeled “Tokunbo” (fairly used) goods.

Others include false warranty claims, and coordinated price-fixing of electronics such as televisions, generators and phones.

 “These are not minor issues. They affect household income, endanger consumer safety, and erode public trust.

 “They violate key provisions of the FCCPA 2018, which prohibit deceptive practices and unfair pricing,” the FCCPC boss said.

He stressed that such violations not only harm the integrity of the market but also disadvantage honest traders who adhere to ethical practices.

While acknowledging the pressures faced by traders, including rising operational costs, Bello reiterated the FCCPC’s dual mandate: consumer protection and the amplification of genuine business concerns to relevant agencies.

He called for a collaborative approach with market leaders to establish new standards of integrity, where fair competition thrives and consumers can shop with confidence.

Bello urged traders to always ensure honesty and respect in their dealings with customers, to promptly address consumer concerns and complaints.

According to him, FCCPC is optimistic that this renewed engagement will lead to a shared vision with market associations to eradicate all forms of abusive and deceptive practices.

Speaking at the forum in Mile 12, Alhaji Shehu Jibril, Chairman, Mile 12 Market, that farmer security is critical for national food security and for them to be able to cultivate and harvest without facing ransom threats.

He called for investment in Compressed Natural Gas (CNG) trucks dedicated to transporting perishable items, noting that using the same trucks for chemicals and food is unsafe and harmful.

Jibril stated that the excessive cost of over N150,000 to transport goods from Kano to Lagos, driven by multiple taxes, severely impedes the movement of goods.

He appealed for government grants to support struggling traders, especially in large markets like Mile 12 Market, noting that most traders lack capital and need funding to sustain food supply chains.

Also, Chief Camilus Amajuoyi, Chairman, Alaba International Amalgamated Council of Sections, expressed the market’s readiness to work with the FCCPC, stressing the association’s commitment to stop selling bad goods but promote honest business.

Amajuoyi, who also heads the International Market Association Electronics, noted past engagements with FCCPC, where similar agreement and understanding with the CPC brought good results.

Also, the President-General of Alaba Council said traders in Alaba do not sell fake product no but highlighted a shift in the market where members were focusing on Nigerian brands, made locally.

“Most products here are indigenous. We are selling our own branded goods now,” he explained.

Amajuoyi denied claims of fake goods in Alaba.

 “We are not selling fakes. Although, some of us stopped selling foreign products,” he added.

Amajuoyi insisted the market would help the FCCPC, saying, “The executive will find and catch those selling bad products.

 “Such illegal acts hurt Alaba’s name. “We are ready to partner with you. We will help find those who subsidise originals.”

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BUSINESS

FCTA Setup Vetting Committees to Scrutinise Sale of Govt Properties

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By Laide Akinboade, Abuja

The Federal Capital Territory Administration (FCTA), at the weekend set up vetting committees to scrutinise the sale of Federal Government houses in the FCT, and the titling of designated park plots, including the management of allied land parcels in Abuja.

This was contained in a statement by Assistant Director of Information and Customer Service, Badaru Yakassai, in Abuja.

The FCT Director of Land Administration, Chijioke Nwankwoeze, inaugurated the vetting committees in his office.

 Nwakwoeze explained that the committees were established to implement ministerial directives “following the discovery of serious irregularities and infractions in the sale of Federal Government houses in the FCT.

“The Director added that the said irregularities and fractions discovered include deviation from approval mandate, improper verifications, late payments, inadequate documentations, poor interdepartmental coordination and other specific infractions,” the statement added”

He noted that the FCT Minister, Nyesom Wike, approved the constitution of the committees “with clear directives, mandates, and terms of reference, to ensure that all processes are completed within a reasonable time frame.”

Nwankwoeze added that the vetting team on the sale of government houses is expected “to restore order, accountability, and transparency in line with the original 2003–2005 monetisation and sales policy framework of the Federal Government.”

He further stated that a second vetting committee had been set up to handle the titling of designated park plots, with a mandate to align the activities of the Department of Parks and Recreation with the current land reform policies of the FCT Administration.

Nwankwoeze stated that the FCT Minister, Nyesom Wike, approved the constitution of the committees “with clear directives, mandates, and terms of reference, to ensure that all processes are completed within a reasonable time frame.”

Nwankwoeze added that the vetting team on the sale of government houses is expected “to restore order, accountability, and transparency in line with the original 2003–2005 monetisation and sales policy framework of the Federal Government.”

He further stated that a second vetting committee had been set up to handle the titling of designated park plots, with a mandate to align the activities of the Department of Parks and Recreation with the current land reform policies of the FCT Administration.

“The setting up of the vetting committees was a bold and irreversible step toward restoring sanity and public trust in the FCTA.

“He emphasised that the government has deployed machinery to put to rest all lingering issues surrounding the sales of the Federal Government’s houses and designated park plots in the territory,” the statement further read.

The director expressed confidence that the committees will sanitise the system and rebuild citizens’ trust in public land administration.

This is because the FCT Minister has the ‘political will’ to drive it to a logical conclusion, and this forms part of the aspirations of the ‘Renewed Hope Agenda’ of President Bola Ahmed Tinubu,” Nwankwoeze stated.

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