News
Building Connections – The Value of Our Transport Networks
By Tobechukwu Okigbo
Over the years, embarking on road trips across Nigeria has provided me with some of the most fulfilling and memorable experiences of my life.
Tobechukwu Okigbo, Chief Corporate Services Officer of MTN Nigeria.
Our country is blessed with natural and beautiful landscapes, local cultures, languages and architecture that change as you move through the states or geo-political zones.
It’s only when you travel like this that you experience the richness of our diversity, providing a much-needed perspective and deeper understanding of our country.
When you can’t see a country for what it really is, then you are especially vulnerable to the manipulation of more radical elements.
Travelling through these places gives one a direct connection to them, and it is those connections that are so important to our cohesion.
Unfortunately, the option to travel by road is more limited today than it has been in the past, especially taking into consideration the prevailing security challenges.
Nigeria currently is quite low in the global ranking of road networks to people ratio, with many important roads in various state of disrepair.
This has an impact, not only on our individual ability to explore and understand our nation, building connections between us, but on our economy; limiting domestic trade, commerce and tourism, driving up costs and so reducing our competitiveness.
In turn, this impacts productivity, employment and puts a brake on improvements to living standards.
When a farmer struggles to get his produce to the market, the quality of the produce available to the consumer is lower and costs more.
When a petroleum marketer needs to move product from Lagos to Kano, the time it takes is a direct input into the price differentials we see across the country.
When it takes longer for a can of Coca-Cola to navigate the roads in the East, then it costs more for the consumer when it gets there.
When tourists fly into major cities but are unwilling to brave our roads and cannot explore our regions, we lose not just income, but the ability to share our culture and heritage with others.
At a very human level, poor roads contribute to unnecessary accidents and deaths.
The Federal Road Safety Corps (FRSC) estimates that 3,700 people lost their lives in the first ten months of 2022, and road quality is one of the top-ten causes of those accidents.
These challenges are not new, and the impact is understood by the government.
The Senate has estimated that Nigeria loses over N1 trillion in annual revenue due to bad roads, revenue which is critical to us as a nation.
The Federal Roads Management Agency (FERMA) estimates that the cost of loss in man-hours due to traffic caused by poor roads is N1.02 trillion every year.
This is before we consider the additional costs associated with price inflation that Nigerians and Nigerian businesses have to absorb.
Many will put the responsibility to fix roads solely on government. Besides, what are the governments at various levels doing if they cannot fix the roads.
Indeed, in fairness to the current administration, a lot of work has been done in both road repairs and the construction of new ones.
But the truth is, the expectations are very high. However, the reality is that the government alone cannot fix all the roads.
They only have to be strategic and take the lead on an integrated approach to providing motorable roads to the citizenry, which is why in recognition of the importance of improving our road infrastructure, the Nigerian government conceived and launched the Road Infrastructure Tax Credit (RITC) in 2019, a tax incentive programme to crowd in private sector finance for road construction, maintenance and repair.
It is designed to accelerate the investments that can be made to improve the network of roads in the country.
The government recognises the severity of the funding gap that exists, and that partnerships are required to deliver better roads, faster.
Not only does the RITC programme mobilise additional funding, it ensures that public budgets can be allocated to other equally pressing development priorities.
When done well, with proper planning, design and monitoring, these programmes attract significant private sector support and deliver impressive results.
Recognising that the RITC programme encapsulates everything that we at MTN call shared value, we are proud to have marked the 20th anniversary of our operation in Nigeria in 2021, by successfully bidding to reconstruct the 110km dual carriage Enugu-Onitsha expressway.
There is no better way of demonstrating the strength of the partnership between MTN and Nigeria, than by directly contributing to a project that benefits the government, business and the people by improving people’s ability to connect.
It is a tangible manifestation of our belief that “We’re good together” and an extension of our purpose to enable the benefits of a modern connected life to everyone.
MTN will invest N202.8 billion in the rehabilitation of the road, receiving tax credits of the equivalent value that it can use to offset future tax liabilities.
Work has already commenced on the road with a delivery schedule that anticipates people will be able to use it within 18 months.
We fully understand the strategic importance of the Enugu-Onitsha road to the eastern economy and Nigeria at large.
For us, the completion of the rehabilitation of the expressway is more than fixing a road. It is more than a road; it is connecting people and opening an economy.
It is about creating memories for people to appreciate the beauty of our land.
I am incredibly excited at the potential of this partnership to embed a culture of collaboration between the public and private sector in Nigeria.
It is not just MTN that recognises this opportunity. The strong design of the RITC is evidenced in the range of other private sector partners that are joining the programme.
By working together, we can accelerate progress towards national development goals, make life easier for Nigerians and improve the prospects for all businesses, large and small.
Personally, I look forward to driving on the Enugu-Onitsha expressway, to re-ignite my passion for road trips, and seeing the vibrant beauty that is Nigeria.
It is not just about fixing a road; it is about accelerating connectedness and building lasting partnerships.
We’re good together!
Okigbo is the Chief Corporate Services Officer of MTN Nigeria.
In a significant move to safeguard Nigeria from potential fraud, the Attorney-General of the Federation and Minister of Justice, Chief Lateef Fagbemi (SAN), has led a team of senior lawyers to represent the Federal Government at a Supreme Court hearing over the Petro Union Oil and Gas Limited case.
The development marks the first time the Federal Government was represented at such a high level since the little-known company secured a judgment from the Federal High Court in Abuja for £2.556 billion.
However, the Economic and Financial Crimes Commission (EFCC) had concluded in its investigation report that Petro Union obtained the judgment by allegedly using a Barclays Bank UK cheque to draw from an account closed five years before it was presented.
The anti-graft agency’s finding led to the ongoing prosecution of the oil company’s directors before the Federal High Court in Lagos.
The directors, Prince Kingsley Okpala, Prince Chidi Okpalaeze, Prince Emmanuel Okpalaeze, and Abayomi Kukoyi (trading as Gladstone Kukoyi & Associates), are facing a 13-count charge of conspiracy, forgery, and fraud before Justice Chukwujekwu Aneke.
Chief Fagbemi’s appearance in the controversial case is particularly notable because it demonstrates the Federal Government’s resolve to fight the March 11, 2014, court order, which directed the Central Bank of Nigeria (CBN), Union Bank of Nigeria, the Minister of Finance, and the Attorney-General to jointly pay Petro Union the judgment amount along with 15 per cent interest per annum.
During the March 17, 2025 proceedings, Chief Fagbemi led a team of lawyers, including Mohammed Gazali (SAN), a Director in the Federal Ministry of Justice, and other lawyers representing the Federal Government and its agencies.
Chief Adegboyega Awomolo (SAN) led the legal team for Union Bank, while the CBN’s legal representation was headed by Damian Dodo (SAN) alongside Mrs. Olabisi Soyebo (SAN) and others.
Chief Awomolo argued an application to amend the Notice of Appeal by adding eight additional Grounds of Appeal.
While the AGF and the CBN’s lawyers supported the motion, Petro Union’s legal team opposed it.
After listening to arguments on the matter from the lawyers, the Supreme Court reserved its ruling for a later date to be communicated to the parties.
The judgment sum against the Federal Government, CBN, and Union Bank now stands at over £15 billion, including interest—exceeding 50% of Nigeria’s foreign reserves.
Legal experts have compared this situation to the infamous $10 billion Process and Industrial Development (P&ID) case.
The troubling events leading to this judgment began in 1994 when Petro Union allegedly fraudulently obtained a cheque worth £2.556 billion from a Barclays Bank branch in the UK.
The company presented this cheque at a Union Bank branch in Lagos, claiming it was for a contract related to refinery construction and the establishment of a bank.
Subsequent investigations by the CBN and Union Bank unveiled that the cheque, dated December 29, 1994, and drawn in favour of Gladstone Kukoyi & Associates, was confirmed by Barclays Bank to be counterfeit.
Barclays Bank had also indicated that Gazeaft Limited, the issuer of the bill of exchange, did not have an account with them and was not listed as a registered company in the UK.
Despite these findings, Petro Union and its agents persisted in their claims that Union Bank had received £2,556,000,000.00 on their behalf and had transferred £2,159,221,318.54 to the CBN while retaining £396,778,681.46. This led to court actions against the CBN and Union Bank based on these dubious claims.
In a concerning development, Petro Union managed to secure a judgment by presenting an alleged statement of account from the CBN, neglecting the fact that a Central Bank serves as a banker to the government and banks, not to individual companies or persons.
Following these proceedings, both the CBN and Union Bank filed appeals to overturn the judgment, particularly as evidence of fraudulent motives began to emerge during the ongoing criminal prosecution of Petro Union and its executives at the Federal High Court in Lagos.
Additionally, information already presented to the Supreme Court suggests that Petro Union may have obtained the judgments at lower courts by allegedly providing evidence that appears to be based on falsehoods, forgery, misrepresentation of facts, and concealment.
Given Nigeria’s increasing debt profile, many observers are alarmed by the prospect of this additional £15 billion ‘debt’ looming over the nation. They are looking to the Supreme Court to deliver justice in this complex matter.
President Bola Tinubu has congratulated Dr Fene Osakwe on winning the Cyber Personality of the Year award at the 2025 Cyber Security Awards in the UK.
Dr Fene Osakwe
According to Bayo Onanuga, special adviser to the President in a statement, Dr Osakwe is the chairman of the Lagos State Cybersecurity Advisory Board and the first African to win in the Cyber Security Awards category.
He was recognised for his exceptional leadership, advocacy, and expertise in cybersecurity and data privacy, clinching the prize ahead of other finalists from the United States, the UAE, Qatar, the Netherlands, and the UK.
President Tinubu celebrates Dr Osakwe’s achievements, underscoring his immense contributions to cybersecurity and his efforts to evolve new horizons in the field.
The President described the 2025 Cyber Personality of the Year as an exceptional Nigerian and a worthy representation of Nigeria’s talented, innovative, and pace-setting youth.
While extolling the youth as Nigeria’s greatest asset, President Tinubu stated that Dr Osakwe’s nomination and subsequent win foreground the global impact of young African professionals in cybersecurity.
The President wished Dr Osakwe more success in his endeavours.
Insight Publicis, one of Nigeria’s leading integrated marketing communications agencies, has announced its decision to resign from the Airtel Nigeria account, effective immediately.
This decision follows an extensive evaluation of the engagement, during which both parties were unable to reach an agreement on terms that appropriately reflect the scope of work and the value Insight Publicis brings to the partnership.
While both organizations hold each other in high regard, the agency remains committed to engagements that align with its strategic priorities and industry benchmarks.
Speaking on this, Dolapo Ogunbambo, chief operating officer of Insight Publicis, said “Our commitment to excellence necessitates that we engage in partnerships where there is mutual alignment on value creation and strategic objectives.
“We have valued our association with Airtel Nigeria and wish them continued success in their future endeavors.”
Insight Publicis will ensure a seamless transition and remains focused on delivering exceptional marketing solutions to its diverse clientele across various industries. She said.
Founded in 1979, Insight Publicis is a pioneer in Nigeria’s marketing communications landscape, offering a full suite of services, including brand strategy, multimedia creative solutions, digital marketing, and consultancy. As part of the global Publicis Groupe, Insight Publicis combines deep local expertise with international insights to drive impactful brand storytelling and business growth.
Senate Votes to Compel Facebook, Others to Open Offices in Nigeria
Google to Buy Cybersecurity Company Wiz for $32Bn
MTN Group to Invest $10Bn in African Expansion by 2030
ATCON Calls for Telecom Policy Improvements in Nigeria
9mobile Reinforces Innovation Leadership with Echoes, Its Trailblazing AI Storytelling Platform
General News3 days agoJumia Nigeria Kicks Off Tech Week 2025
Telecom3 days agoBridging Nigeria’s Digital Divide: ITU and UK-FCDO Fuel Rural Connectivity Revolution
E-Financial3 days agoSEC Voids Mainland Trust’s Registration, Suspends Centurion Registrars
E-Business3 days agoNITDA Expands iHATCH Initiative to Drive Job Creation, Economic Diversification
Telecom2 days agoMTN’s Earnings Hammered by Free Falling Naira in Nigeria
Telecom3 days agoTransforming Lives Through Advocacy: Princess Omoyemwen Inspires Change at MTN’s Go MAD Activation in Benin
E-Business2 days agoFG Partners Cyberpedia to Fight Misinformation with AI
Telecom2 days agoFG to Launch $2Bn Fibre Network Project in Q4 2025