NEWS
Gov. Obaseki Seeks Upward Review of 13 Per cent Derivation Formula
Gov. Godwin Obaseki of Edo has called for the upward review of the current 13 per cent derivation formula to the oil-producing states.Obaseki made the call on Tuesday shortly after inaugurating the Effurun-Otor-Ovwor-Olomu bridge and the rehabilitated 34-km Otu-Jeremi-Okwagbe Road in Ughelli South Local Government Area of Delta.
The governror said that the current 13 per cent allocation by the Federal Government was inadequate for the development of the Niger Delta. The governor said that the terrain in the South-South had made it quite expensive to develop infrastructure, especially roads.Obaseki commended his Delta counterpart , Ifeanyi Okowa, on the number of projects being executed in the state.He said Okowa would do better, if more funds were made available to the state.Obaseki said that the inaugurated bridge and road projects would enhance the economy of the communities and also connected them to other parts of the state.He described Okowa as a brilliant leader, who understood the importance of roads and other infrastructure in the economic development of the communities.“Governor Okowa has moved up from ‘road master’ to ‘bridge master’.“He is a champion of modern day democracy and represents the ideals of great leadership, particularly with the quality of work he does with the derivation funds.“Okowa is not only building physical bridges but also social, economic and community bridges,” he said.Obaseki pedged the sustenance of the age-long relationship between Delta and Edo, assuring that he would invite Okowa to inaugurate projects in Edo very soon.In his remarks, Okowa said that the Effurun-Otor-Ovwor bridge was one of the major demands of the people when he visited the communities in 2015.He said that the vision of his administration was to connect Delta communities with roads, bridges and other basic amenities.Okowa added that his administration had awarded no fewer than 500 road projects with many already completed.The governor commended the contractor handling the projects, Obakpor Engineering Limited and assured that he would deliver on the Ovwor Hospital project in 2022.“Today, I believe that my joy knows no bounds because we have truly brought joy to the people of Ovwor-Olomu/Effurun-Otor.“We are currently continuing on the Trans-Warri road with several bridges and it is our hope that we will complete that project leading to Ode-Itsekiri in the course of our tenure.“The Ayakoromo bridge is still undergoing construction, the Orere bridge in Ewu kingdom has just started,” he said.The Okobaro of Ughievwen Kingdom, Dr Matthew Egbi, Ohwahwa 11, thanked governor Okowa for transforming the communities of Otu-Jeremi, Eyara, Imode, Oginibo, Okwagbe and other communities in Ughelli South.“Ughievwen Kingdom is an investors’ haven, a major contributor to the nation oil and gas assets,” the traditional ruler said.Also speaking, Orovworere of Effurun-Otor Kingdom, Mr Johnson Duke, described Okowa as a listening governor, who always acted on genuine demands of the people. (NAN)NEWS
Senate Passes Bill Extending 2025 Capital Budget Implementation to Dec 31
The Senate on Tuesday passed a bill extending the implementation of the capital component of the 2025 Appropriation Act from September 30 to December 31.
The bill, according to the upper chamber, seeks to provide additional time for ministries, departments and agencies (MDAs) to complete all ongoing capital projects.
The bill, sponsored by the Senate Leader, Opeyemi Bamidele (Ekiti Central), was read for the first time and subsequently considered for second reading after the suspension of the relevant Senate Rule.
Leading debate on the bill, Bamidele said the extension would provide the legal and administrative window required to fully implement projects for which funds had been appropriated and released.
He said that capital budget implementation involved procurement, contract execution, mobilisation, certification of works and payment processes, among other procedures.
The senate leader said several infrastructure and development projects across the country were at various stages of completion and required additional time for implementation.
According to him, allowing the existing implementation deadline to lapse can create difficulties for MDAs in completing projects for which resources had already been appropriated and released.
Bamidele added that the extension would help prevent projects from becoming abandoned and ensure that appropriated resources were deployed for their approved purposes.
The senate leader stressed that the extension would not amount to a relaxation of accountability, fiscal responsibility or legislative oversight.
He said that MDAs would remain required to comply with the appropriation act, financial regulations, procurement laws and other applicable statutes.
Contributing, the Deputy Senate President, Sen. Barau Jibrin, said the extension was important to prevent the proliferation of abandoned projects across the country.
Jibrin urged the senators to support the bill, saying it would provide an opportunity for ongoing projects funded under the 2025 appropriation to be completed.
The Minority Leader, Abba Moro (Benue South) also supported the extension but urged senators to avoid unnecessary comparisons with previous administrations during debates on budget implementation.
Moro said the focus should remain on creating the necessary conditions for the government to implement its programmes and projects.
The bill was subsequently committed to the Committee of Supply, which considered and approved amendments to the relevant provisions.
The senate, thereafter, passed the bill at third reading, extending the implementation of the capital component of the 2025 appropriation act to December 31.
The Senate President, Godswill Akpabio, thanked senators for their contributions, saying the extension would facilitate payment for contracts and completion of projects covered by the 2025 capital appropriation.
He urged relevant authorities to utilise the extended period to complete necessary contractual obligations and infrastructure projects for the benefit of Nigerians.(NAN)
NEWS
CANEX 2026 to Unlock Investment, Jobs in Nigeria’s Creative Economy — FG
The Federal Government said Nigeria’s hosting of the 2026 Creative Africa Nexus (CANEX) Weekend will attract investment, deepen market access and accelerate growth in the country’s creative economy.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, stated this in Abuja on Tuesday at a news conference on preparations for the event scheduled for Lagos from Nov.
5 to Nov. 8.Oduwole said more than 10,000 participants were expected at the event, expressing confidence that Nigeria would surpass previous attendance records.
She said CANEX 2026 would provide a major platform for Nigerian and African creative entrepreneurs to interact with investors, financiers, distributors and international markets.
“For the Government of the Federal Republic of Nigeria and all states of the Federation, CANEX is much more than a celebration of African creativity. It is a platform for trade, investment, enterprise and market access,” she said.
The minister said Nigeria’s strength in music, film, fashion, literature, visual arts, gastronomy, sports and technology made the country well positioned to host the continental creative economy gathering.
According to her, the Federal Government is positioning the creative industries as an important component of its broader trade and export agenda towards achieving a one-trillion-dollar economy.
Oduwole noted that global trade was increasingly generating value through services, technology, content, intellectual property and culture, rather than relying solely on physical goods.
“Nigeria is already a major source of African music, film, fashion and creative content. The opportunity before us is to capture more of the economic value generated by that creativity,” she said.
She explained that CANEX would connect creators and creative businesses with finance, investors, distribution networks, technology and international markets.
“Today, our message is simple: we want to see partnerships formed, financing mobilised, intellectual property commercialised, businesses entering new markets and Nigerian creative enterprises scaling beyond our borders,” Oduwole said.
The minister said Lagos would become a meeting point for Africa and the global creative economy during the event, with all 36 states and the Federal Capital Territory expected to have dedicated pavilions.
She said the pavilions would provide opportunities for the states and the FCT to showcase their creative assets, enterprises and investment opportunities to local and international participants.
Oduwole added that designated deal rooms would facilitate business engagements, investment discussions and commercial partnerships between investors and operators in the creative sector.
She said the Federal Government was working with state governments, the private sector and the African Export-Import Bank (Afreximbank) to ensure that CANEX 2026 produced tangible economic opportunities.
According to her, the preparations reflect a whole-of-government approach involving institutions responsible for foreign affairs, finance, customs, immigration, health, transportation and security.
Oduwole said Nigeria’s hosting of CANEX would also mark the event’s first outing in West Africa, further strengthening the country’s profile as a hub for African trade, investment and enterprise.
She disclosed that Lagos would also host the Intra-African Trade Fair (IATF) in 2027, describing it as Africa’s largest trade fair.
The minister said the two platforms would provide opportunities to showcase Nigerian products, connect businesses with African markets and demonstrate investment opportunities across various sectors of the economy.
Also speaking, the Inspector-General of Police, Olatunji Disu, said the Nigeria Police Force had been integrated into the planning process from the outset to guarantee adequate security during the event.
Disu said effective security arrangements would be central to the successful hosting of CANEX 2026, particularly because of the anticipated influx of international delegates into Lagos.
He assured that security considerations were being incorporated into the preparations to ensure that participants, businesses and other stakeholders could engage in the programme in a secure environment.
Similarly, the Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, said his ministry was collaborating with the Ministry of Industry, Trade and Investment and other relevant agencies to drive international participation.
Enikanolaiye said information on CANEX 2026 would be circulated through diplomatic missions in Nigeria and Nigerian missions abroad to broaden awareness and attract participants from different countries.
He added that the ministry was working with immigration authorities to facilitate efficient visa processing for international delegates expected to attend the event.
The minister described CANEX as a strategic platform for Nigeria to project its creative industries as instruments of soft power and cultural diplomacy.
The Federal Government said the event would feature music, film, fashion, gastronomy, literature, visual arts, sports and technology.
CANEX 2026 will also feature investment, financing and market-access engagements aimed at deepening commercial opportunities, strengthening creative enterprises and expanding Nigeria’s participation in the global creative economy.(NAN)
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NEWS
Wike Approves Contracts for Digitization of FCT High Courts
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved the award of contracts for the digitisation of the FCT High Courts, with the project expected to commence within two weeks.
General Counsel and Mandate Secretary, FCT Legal Services Secretariat, Salman Dako, disclosed this on Tuesday in Abuja after the FCT Administration Executive Council meeting chaired by Wike.
Dako said the approval was aimed at transforming the administration of justice in the territory by replacing the existing manual record-keeping system with a modern and automated judicial management platform.
He explained that the digital transformation project would cover 67 courtrooms across the FCT, providing the courts with electronic recording and case management facilities.
“The scope of this project is the digitalisation of the High Courts in the FCT, including digital transformation and implementation of an electronic court recording and case management system.”
Dako said the initiative would ensure that the High Courts transitioned from handwritten court records to digital documentation and electronic management of cases.
“Meaning that we are transitioning the High Court from manual recording to digital recording, and electronic case management,” he said.
He noted that the FCT judiciary had, over the years, faced challenges associated with handwritten court notes, manual filing procedures and the physical tracking of cases, which could contribute to delays in the administration of justice.
Dako explained that the newly approved contract was designed to address those challenges by introducing technology-driven processes capable of improving the speed, accessibility and organisation of judicial records.
“Transitioning to digital court management will resolve the persistent challenges linked to manual documentation and handwritten records,” he said.
He added that the system would also enable legal practitioners and litigants to embrace electronic case filing, thereby reducing dependence on physical documents and manual procedures.
“I believe that this will be a very great improvement for us. Some judicial divisions have already started this outside the FCT, so I think this is the future and it is time we go along this route,” Dako said.
He further disclosed that the contract period was two weeks, after which progress on the implementation of the digitalisation programme was expected to become visible,
He added that the initiative was expected to set a new benchmark for judicial efficiency and court administration in the nation’s capital. (NAN)


