General News
Nigeria, Others Float African Energy Bank with $5bn Takeoff Capital

The African Petroleum Producers Organisation (APPO) has floated the African Energy Bank with $5 billion capitalisation.

The project feeds into the continent’s move to break away from hurtful dependence on foreign lenders who are becoming increasingly reluctant to fund hydrocarbon-related projects.
Mr. Omar Farouk Ibrahim, Secretary General of APPO, disclosed this at the Nigerian Local Content African Continental Free Trade Agreement (AfCFTA) Energy Summit organised by the Nigerian Content Development and Monitoring Board (NCDMB) in partnership with the Petroleum Technology Association of Nigeria (PETAN) in Lagos.
The APPO Scribe announced that the African Energy Bank will start operations in 2024, adding that the 18 member nations of APPO have started paying up their shareholding, which is $83 million per country.
He affirmed that the African Energy Bank would be a veritable platform to fund oil and gas projects within the continent and mitigate the withdrawal of international financiers because of the clamour for renewable energy.
Ibrahim also confirmed that APPO was working to establish international research centres of excellence in different regions of the continent, which would cater to the research needs of oil companies operating in Africa and curb their dependence on international research centres for research solutions.
He stated that APPO is working to enhance the market for African oil and gas resources and ensure that crude oil and gas resources that are produced in Africa get consumed within the African continent.
He explained that the move by APPO is important because of the threat of energy transition, which is expected to substantially shrink the demand for crude oil and gas resources internationally.
‘‘Another important and related action is the construction of a continent-wide pipeline system that could convey crude oil, refined products, and gas across different countries of the continent,’’.
The APPO boss advocated for synergy among African countries, hinting that no African oil-producing country can provide the financial, technological, and marketing resources that it needs to be self-sufficient, adding that “if resources are pooled together, African countries can go far”.
He advised Nigerian oil and gas companies to be diplomatic when engaging their counterparts from other African countries and to co-opt other nationals when planning to operate in foreign jurisdictions.
“You need to have diverse shareholding and include nationals from other countries when you move to other African countries to operate. Do not create the impression that you want to dominate.”
Earlier in his remarks, the Executive Secretary of NCDMB, Mr. Felix Omatsola Ogbe, advocated the removal of visa restrictions among African nations, the creation of a database of available skills, and the simplification of cross border deployment of labour.
Represented by Mr. Ama Ikuru, the Director of Corporate Services, NCDMB, the Executive Secretary harped on the need to unlock barriers that are inhibiting free intra-Africa trade and advised African leaders to create unified codes and standards for goods and services, reform the services sector, and enhance trade facilitation programmes.
He assured that the NCDMB will continue to partner with stakeholders such as PETAN, APPO, and other continental and regional bodies to position Nigerian oil service providers to take advantage of the big market opportunities that AfCFTA offers.
Speaking at a panel session at the summit, the Director of Finance and Personnel Development, NCDMB, Dr. Obinna Ofili, expressed worry over the financing prospects of some key initiatives of AfCFTA.
He equally observed that the ongoing geopolitical conflicts were affecting the inflow of international funding into the African oil and gas industry.
He recommended that APPO should develop a financial strategy for its strategic plans and should mobilize funds from different sources, including from international financiers.
Ofilli advised other African oil-producing countries to setup a financing programme like the Nigerian Content Intervention Fund (NCI Fund), to support the growth of their local supply chain.
In his contribution, the Director of Monitoring and Evaluation, NCDMB, Mr. Abdulmalik Halilu, urged oil-producing countries to specialise in different manufacturing and service areas of the oil and gas industry and develop their competencies to the right specifications, so they can trade among themselves.
Citing an example with the manufacturing of complex equipment where the critical components are produced by different original equipment manufacturers (OEMs) and assembled at a designated factory, Halilu explained that such a model will ensure that each African country develops a competitive advantage and can contribute effectively to the African oil and gas industry.
He hinted that Nigeria had already completed two Oil and Gas Parks where manufactured components or services can be assembled at competitive costs.
He stressed the need for close collaboration among African oil-producing countries as well as between African OEMs to enable the success of AfCFTA.
Halilu listed other critical factors as trade liberalisation, uniform standards, measurements, and enforcement tools.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
General News
REDAN Seals Landmark MoU, Validates Sytemap’s Real Estate Infrastructure

In a market where less than 3% of land is formally registered and property fraud remains systemic, infrastructure, not apps, is becoming the defining battleground for real estate innovation.

L-R: Ndifreke Ikokpu, COO, Sytemap, HRM Oba Akintoye Adeoye, President REDAN & Cholatte Odunlade-Akeji, Director, RightHome
That reality came into sharp focus on December 18, 2025, as the Real Estate Developers Association of Nigeria (REDAN) signed a Memorandum of Understanding (MoU) with Sytemap Technologies Limited, signaling a major industry endorsement of Sytemap’s land and real estate transaction infrastructure.
The partnership centers on RightHOME, a jointly developed digital real estate platform powered by Sytemap’s secure cloud infrastructure, mapping systems, transaction monitoring, and fraud-prevention architecture, with REDAN driving ecosystem adoption through its nationwide developer network.
Nigeria’s real estate sector processes transactions worth trillions of naira annually, yet remains heavily manual, fragmented, and vulnerable to disputes. Industry data suggests unresolved title issues alone lock up ₦36 trillion in dead capital, limiting access to finance and slowing development.
“This MoU represents a shift from fragmented digitization to coordinated infrastructure,” said Nnamdi Uba, CEO at Sytemap. “When the industry body itself aligns around shared standards, verification, and technology, innovation can finally scale responsibly.”
Under the agreement:
· REDAN will onboard registered developers and promote adoption of the platform as a trusted digital channel.
· Sytemap will deliver secure hosting, real-time monitoring, escrow-aligned transaction workflows, and compliance with Nigeria’s data protection regulations.
· Joint standards will be developed for digital verification, transparency, and asset mapping.
From a technology perspective, the partnership reflects a growing consensus that solving African real estate challenges requires deep infrastructure, not surface-level marketplaces. Fraud detection, uptime reliability, auditability, and regulatory alignment, areas often overlooked in proptech, are central to Sytemap’s approach.
HRM Oba Akintoye Adeoye, representing REDAN noted, “This collaboration allows developers to operate in a system where trust is embedded, not assumed. That is critical for long-term growth.”
For the broader tech ecosystem, the MoU stands out as a rare example of industry-led validation, where a national association formally aligns with a technology provider to modernize an entire sector.
Ndifreke Ikokpu, COO at Sytemap signed on behalf of Sytemap while Cholatte Odunlade – Akeji, CEO of RightHome signed on behalf of the Special Purpose Vehicle.
As pressure mounts to unlock housing finance, attract institutional capital, and reduce transaction risk, the REDAN–Sytemap partnership positions digital land infrastructure not as an optional upgrade, but as a foundational requirement for the future of real estate in Nigeria.
General News
Oyedele Warns Delay in Tax Reforms Will Keep 98% of Workers Overtaxed

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has cautioned that failure to implement Nigeria’s new tax laws by January 1, 2026, would leave the vast majority of workers and businesses at a disadvantage.

Taiwo Oyedele
Speaking on Channels Television’s The Morning Brief, Oyedele said postponing the reforms would mean that “the bottom 98 per cent of workers remain overtaxed,” while businesses continue to grapple with multiple taxation and miss out on exemptions.
He added that small and unprofitable enterprises would still be subject to minimum taxes, and hidden VAT charges would keep driving up the cost of essentials such as food, healthcare, and education.
His comments come amid calls by former Vice President Atiku Abubakar, Labour Party’s 2023 presidential candidate Peter Obi, and several civil society groups for a suspension of the reforms. Oyedele argued that rather than halting implementation, specific areas of concern should be identified and corrected.
“So, we need to be clear about what we are asking for,” he said. “Even if it is established that there have been substantial alterations to what the National Assembly passed, my view will be to identify those provisions… and go ahead to implement the law as passed by the NASS, while you address the issues as to how they got in there in the first place.”
Oyedele acknowledged that even the version passed by lawmakers contained sections requiring amendment, citing issues with referencing and definitions.
He also addressed controversy over alleged discrepancies between the gazetted laws and those approved by the National Assembly, noting that without access to the officially harmonised bills certified by the clerk, it was difficult to determine differences.
He pointed to Section 41(8), which initially appeared to require a 20 per cent deposit but was later excluded from the final version, stressing that some draft materials circulating in the media did not originate from the House committee. “I think we should allow them do the investigation,” he said.
President Bola Tinubu has already signed the four tax reform bills into law, describing them as the most significant overhaul of Nigeria’s tax system in decades.
The reforms — the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act — are scheduled to take effect on January 1, 2026, under a unified Nigeria Revenue Service.
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