The African Development Bank (AfDB) Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and foster broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, saying that $2.95 billion would be provided over the first four years of the plan, to be complemented by an estimated $3.21 billion in co-financing from development partners. The statement read, ‘The Board of Directors of the African Development Bank Group has a new five-year Country Strategy Paper (2025-2030) for Nigeria, committing…
Author: Elvis Eromosele
WhatsApp has officially joined the exclusive group of apps with over 3 billion monthly active users, Meta CEO Mark Zuckerberg announced during the company’s Q1 2025 earnings call on Wednesday. This milestone places WhatsApp alongside Facebook, also owned by Meta, as one of the few platforms in the world to achieve this level of global usage. Launched in 2009 and acquired by Meta (then Facebook) in 2014 for $19 billion, WhatsApp has maintained steady growth without relying on advertisements or subscription fees. The app reached 2 billion monthly users in 2020 and has since added another billion in just four…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered the diversion of N71.2 billion from the student loan fund. Of the N100 billion released by the Federal Government for student loans, only N28.8 billion was actually disbursed to various tertiary institutions. Demola Bakare, ICPC spokesperson revealed this during a media briefing in Abuja. He stated that preliminary investigations indicate that the missing funds were diverted by the management of several universities entrusted with the money. In response to the findings, senior officials from the Central Bank of Nigeria, along with the CEO and Executive Director of the…
Great things happen through collaboration. From the awe-inspiring International Space Station (ISS) orbiting above to the transformative World Wide Web connecting billions, humanity’s greatest triumphs have been shaped through collaboration. The Open Source Movement, epitomized by Linux and Wikipedia, and the expeditious production of vaccines for COVID-19, demonstrate the power of collective efforts in creating shared resources that benefits all. As the world races to meet the Sustainable Development Goals (SDGs), harnessing this spirit of collaboration, especially through strategic Foreign Direct Investment (FDI), maybe the most powerful tool yet. By channeling global capital and expertise into critical sectors, FDI promotes…
The Lagos State Government has released a diversion plan ahead of the emergency repairs on Oworonshoki/Third Axial Bridge scheduled to commence from Tuesday, 6th May to Tuesday, 23rd September, 2025, (110 days) Mr. Oluwaseun Osiyemi, Commissioner for Transportation, who signed e-signed the statement revealed that the repairs will be carried out in 8 phases on both lanes with Phases 1-4 covering the stretch of Oworonshoki/Third Axial Bridge inbound 3rd Mainland Bridge from Tuesday, 6th May to Monday 14th July, 2025, (50days) and Phases (5 – 8) covering the stretch of Oworonshoki/Third Axial Bridge (outbound 3rd Mainland Bridge) from Tuesday, 15th…
Organisers of Cycling Lagos, Nigeria’s biggest cycling event, have announced the commencement of online registration for the 4th edition, scheduled for Saturday, May 31, 2025. This year’s event, themed “Sustainable Energy”, is expected to attract thousands of cyclists from across the country. Speaking in Lagos, Bamidele Adeleye, Managing Director of BrandEscort Communications and Convener of the event, urged interested participants to visit www.cyclinglagos.com to register. “As we gear up for the 4th edition of Cycling Lagos, we are committed to delivering a bigger, better, and more exciting experience. Registration is free, but participants must have a bicycle and a helmet. Organisers will…
The Lagos State Traffic Management Authority (LASTMA) has commenced its 25th anniversary celebrations with the unveiling of a commemorative emblem, symbolizing a bold new era for one of Nigeria’s most prominent public service agencies. The event, held at LASTMA Headquarters in Oshodi, drew stakeholders from across the transportation sector, civil society, media, and government as the agency marked a quarter-century of transforming road discipline in Africa’s most populous city. In a spirited press briefing, Mr. Olalekan Bakare-Oki, General Manager of LASTMA, described the emblem as a symbol of endurance, growth, and continuous service to the people of Lagos. “This emblem…
By Elvis Eromosele In Nigeria, agreement is a rare commodity. From politics to football, fuel prices to fashion trends, consensus is hard to come by. But there’s one issue where Nigerians seem to have found uncommon unity: ‘telcos are ripping us off’. The cry is loud, familiar and constant “My data just disappeared!” Today, it’s no longer an isolated complaint but a national lament. And while telcos offer explanations, the collective frustration suggests, “there is no evidence.” In a country where over 150 million people rely on mobile internet, one has to agree with Airtel that “data is life.” It’s how we…
In a move to empower Nigeria’s youths, OPay, one of the nation’s leading financial institutions, has extended its N1.2bn 10-year scholarship initiative to students of the University of Ilorin. In a statement made available to our correspondent on Tuesday, this marks the latest milestone in OPay’s ongoing commitment to supporting education across Nigeria, with the University of Ilorin now being the newest beneficiary. According to the statement, the scholarship program is designed to alleviate financial barriers for talented students, allowing them to focus on their academic pursuits without the burden of financial stress. Dauda Gotring, OPay’s Managing Director, emphasized that…
Lt.-Col. Onyechi Anele, on Tuesday, took over command of the Directorate of Army Public Relations as the first female officer to hold the position in the Nigerian Army. Anele, whose appointment is in acting capacity, took over from the erstwhile Director, Maj.-Gen. Onyema Nwachukwu, who has been posted to the Nigerian Heritage and Future Centre, Giri Abuja. In her remarks, Anele said she recognised the enormous responsibilities that come with the office, as well as the expectations and the historic significance of her appointment. She promised to uphold professionalism as the first female officer to be entrusted with such strategic…