NSX
Forex
TOP STORIES

We have crossed N50bn IGR for 2025 already, still counting, says Minister of Solid Minerals

The Ministry of Solid Minerals Development has generated over N50bn IGR for 2025, surpassing the N38bn recorded in 2024.

The Minister, Dele Alake, confirmed this on Friday while unveiling the One-Gov Cloud digitisation project at the Mining Cadastre Office (MCO) headquarters in Abuja.

He said the One-Gov Cloud platform would help agencies move from paper-based to automated systems, supporting secure and efficient operations.

Alake said sector reforms, driven by digital tools and new policies, had positioned the ministry for threefold revenue growth across its agencies.

He noted that the MCO generated N30bn for 2025, compared with N12bn in 2024, attributing the rise to innovation and commitment.

“That is the trajectory we have set for the sector. Mines inspectorate revenue is up, and other revenue departments have also improved.

“Last year, we recorded about N38bn. This year, we have crossed N50bn already, and we are still counting,” he said.

Alake described the launch of the One-Gov Cloud as a milestone, saying digital reforms were vital to stronger service delivery and government efficiency.

He said sustainability of the reforms required the right attitude and nationwide mental reorientation to protect and maximise the tools.

According to him, high-end digital equipment demands careful handling to avoid damage and protect the investment.

The minister praised the MCO and urged Galaxy Backbone to resolve early challenges quickly to support seamless operations.

MCO Managing Director, Obadiah Nkom, said the agency’s N30bn revenue for 2025 reflected sector-wide reforms and strong ministerial backing.

He said the support had earned the MCO recognition from public and private bodies, including awards for innovation and digitisation.

Nkom thanked Galaxy Backbone for its technical support, which ensured the successful deployment of the One-Gov system.

Galaxy Backbone Managing Director, Ibrahim Adeyanju, said the MCO was the first department in the ministry to go live on the platform.

He said the agency would continue to support the MCO through training and technical assistance to enhance the system’s value.

Adeyanju described the One-Gov Enterprise Content Management System as a secure tool that strengthens record keeping and improves workflow transparency. 

Credit NAN: Texts excluding Headline

We have crossed N50bn IGR for 2025 already, still counting, says Minister of Solid Minerals
Economy
13-Dec-2025

Arbitrary Spike in Airfares: We will not watch Nigerian Consumers being exploited under any guise - FCCPC

The Federal Competition and Consumer Protection Commission (FCCPC), says it has commenced an expanded investigation into pricing templates behind high ticket rates charge by some airlines on some domestic routes.

A statement issued by Ondaje Ijagwu, the Director, Corporate Affairs of the Commission in Abuja, said the investigation was to establish possible violations of the provisions of the law.

Ijagwu said that concerns had been expressed widely in the past few days over what appeared to be coordinated manipulation or exploitation in the pricing of airline tickets by some airlines on certain routes.

He said the routes where concerns had been raised included the South-East and South-South, as the festive season began.

According to him, the ongoing investigation targets operators on the identified routes.

He said the Commission would apply appropriate enforcement measures where evidence showed any violation of the Federal Competition and Consumer Protection Act (FCCPA).

Ijagwu explained that Air Peace, had instituted a court action seeking to restrain the Commission from examining its pricing mechanisms, following the commencement of an investigation into its pricing model after widespread complaints from members of the public.

He said the ongoing inquiry was without prejudice to the case instituted against the Commission by Air Peace.

The director quoted Tunji Bello, the Executive Vice Chairman of FCCPC, as saying “the Commission would not hesitate to act where evidence showed that consumers welfare or market competitiveness were being undermined.

”For the avoidance of doubt, we are not a price control board but the FCCPAct 2018 empowers us to check the exploitation of consumers.

”When we receive petitions or where we find cogent evidence, we will not stand by and watch Nigerian consumers being exploited under any guise.

”Given the arbitrary spike in airfares, the Commission is extending its review of pricing patterns, the basis for the increases reported by consumers, and any practices that could undermine fair competition.

”Where evidence confirms a breach of the Act, FCCPC will apply appropriate enforcement measures,” Bello said.

Bello said the Commission would continue to provide updates on the ongoing investigations in the aviation industry.

Credit NAN: Texts excluding Headline

 Arbitrary Spike in Airfares: We will not watch Nigerian Consumers being exploited under any guise - FCCPC
Economy
13-Dec-2025

Dangote unveils ₦1trn Scholarship Scheme for 1.3 million Nigerian Students

Chairman of the Aliko Dangote Foundation (ADF) and the President of Dangote Group, Aliko Dangote, has announced a ₦1trn scholarship programme to expand access to education and promote academic excellence across Nigeria.

Starting in 2026, the initiative will support over 1.3 million students from all 774 local government areas, with ₦100 billion committed annually for 10 years.

The programme targets Nigeria’s most vulnerable learners and is structured into three categories: Aliko Dangote STEM Scholars – 30,000 undergraduates in public universities and polytechnics will receive tuition support of up to ₦600,000 per year;  Aliko Dangote Technical Scholars – 5,000 TVET trainees will get essential study materials and technical tools; MHF Dangote Secondary School Girls Scholars – 10,000 girls in public schools will receive uniforms, books, and learning supplies, prioritizing states with high out-of-school rates.

To be Implemented in partnership with NELFUND, JAMB, NIMC, NUC, NBTE, WAEC, and NECO, the scheme will use a merit-based, fully digital system for selection and disbursement. Dangote emphasized that this is a strategic investment in human capital, aimed at reducing inequality and driving national development.

The initiative aligns with government education reforms and will be overseen by a Programme Steering Committee chaired by Emir of Lafia, Justice Sidi Dauda Bage. Dangote pledged 25% of his wealth to sustain the programme, with progress reviewed under Dangote Group’s Vision 2030 strategy.

The programmes is to be implemented through strong collaboration with national institutions including NELFUND, JAMB, NIMC, NUC, NBTE, WAEC, and NECO, ensuring transparent beneficiary selection, verification, and efficient digital disbursement. Heads of all the agencies were present at the launch. 

Dangote said the intervention is aimed at Nigeria’s most vulnerable learners, noting that financial hardship, not lack of talent, is the primary reason many drop out of school. 

“This is not only charity. This is a strategic investment in Nigeria’s future. Every child we keep in school strengthens our economy. Every student we support reduces inequality. Every scholar we empower becomes a future contributor to national development,” he said.

“Our young people are not asking for handouts. They are asking for opportunities. They are asking for a chance to learn, to grow, to compete and to succeed. And we believe they deserve that chance.”

Dangote, who said the ADF which has historically focused on health and nutrition as core areas of human capital development emphasised that the current economic climate has made educational support an urgent imperative. 

“No young person should have their future cut short because of financial hardship. We are stepping forward to ensure students stay in school and pursue their ambitions. This initiative is more than financial aid—it is an investment in human capital, with ripple effects on economies, societies, and future generations. When a student gets a scholarship, entire communities stand to benefit.”

He described education as “the foundation on which every prosperous society is built”, calling it the most powerful equaliser and the strongest engine of social mobility. Despite this, he warned that many talented Nigerian students continue to face financial pressures that threaten to push them out of school. Their dreams, he said, are limited not by ability but by opportunity.

“We cannot allow financial hardship to silence the dreams of our young people — not when the future of our nation depends on their skills, resilience and leadership,” Dangote said.

Noting that this concern informed the Foundation’s new Education Support Initiative, Dangote stressed that the effort is intended as a starting point rather than a standalone solution.

“A single organisation cannot solve Nigeria’s education challenges alone. Government has a role. The private sector has a role. Communities and families have a role. When we work together, we can transform education — and with it, transform Nigeria’s future,” he said.

Addressing young Nigerians directly, Dangote said: “your dreams matter. Your education matters. Your future matters. We believe in you. We are investing in you. And we are committed to ensuring that you do not walk this journey alone.”

The Foundation, he said, will use a merit-based and fully digital system for verification, disbursement and monitoring, working in partnership with NELFUND, JAMB, NIMC, NUC, NBTE, WAEC and NECO. Dangote said the focus will be on measurable outcomes including retention, completion rates and post-school impact. He noted that the vision behind the initiative is to give every deserving child the chance to learn — unfettered by cost, free to dream, and equipped to achieve.

To oversee implementation, a Programme Steering Committee has been constituted, chaired by His Highness Justice Sidi Dauda Bage, Emir of Lafia. Other members include former vice-chancellors, senior education administrators, technical advisors and representatives of the Dangote family.

Dangote also disclosed that the programme’s long-term sustainability is tied to his formal commitment to allocate 25 per cent of his wealth to the Aliko Dangote Foundation, adding that the progress on the initiative will be reviewed in 2030 as part of Dangote Group’s Vision 2030 strategy.

He commended President Bola Tinubu’s Renewed Hope Agenda in the education sector, alongside the Federal Ministry of Education, SUBEBs and state governments, for “deliberate and steady efforts” to support learners amid economic pressures.

Vice President Kashim Shettima who lauded Dangote for his vision in business and national development said the new intervention demonstrates the critical role of private-sector actors in national development. He noted that Nigeria’s demographic growth makes urgent investment in education indispensable, warning that “a population becomes a liability only when it is uneducated.”

“Aliko Dangote, through his far-reaching philanthropy, has set in motion the single largest private-sector education support intervention in the history of this country.”

“What he has done here today is a lesson to each of us. This is nation-building in its purest form,” Shettima said.

Shettima highlighted ongoing reforms under President Bola Tinubu’s administration, including the Nigerian Education Loan Fund (NELFUND), strengthened basic education infrastructure through UBEC, expanded TETFUND interventions and accelerated technical and vocational programmes.

He said these reforms aim to improve Nigeria’s poor Human Capital Index ranking and prepare young people for a skills-driven global economy. Describing Dangote’s philanthropy as “structural and long term,” Shettima said the initiative aligns strongly with the government’s priority of expanding equitable access to education.

“No nation surpasses the aspirations of its most committed patriots. The legacy of Aliko Dangote reminds us that greatness is not measured by wealth but by the number of lives one lifts from the shadows into the light,” Shettima said.

The Vice President added that the Aliko Dangote Foundation programme will widen opportunities for thousands of learners and bolster the FG’s efforts to build a competitive workforce. He called for stronger collaboration between government, the private sector and development partners to address persistent gaps in the education system.

In his presentation, Education Minister, Tunji Alausa described the initiative as “pure human capital development,” saying it aligns with the Tinubu administration’s education sector renewal plan of transforming Nigeria from resource-based economy to a knowledge-based economy and is significant because every local government area will benefit.

He said by the end of the first decade of the execution of the scholarship programme, it is estimated that over 170,000 girl child would have gone to school.

Lagos State Governor, Babajide Sanwo-Olu, speaking on behalf of the 36 state governors, also commended the initiative and pledged the governors’ full support.

Chairman of the Programme Steering Committee, His Highness Justice Sidi Dauda Bage, Emir of Lafia, said the scheme is unprecedented and praised Dangote’s patriotism in reinvesting his wealth to uplift other Nigerians.

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, said Dangote’s impact in driving private-sector transformation remains unmatched, describing the new initiative as both transformational and a strategic investment in Nigeria’s future.

He recalled how ADF has come to the aid of his community during a devastating communal feud that led to destruction of several property.

In her virtual remark from United States of America, United Nation deputy secretary General, Amina Mohammed said the scholarship scheme will provide environment for children to learn and for family to prosper.

The scholarship programme represents the most extensive private-sector scholarship commitment in Nigeria’s history and reinforces ADF’s mission to expand opportunities, drive social impact, and enhance the wellbeing of individuals and communities across the country.

Credit Dangote Group PR

Dangote unveils ₦1trn Scholarship Scheme for 1.3 million Nigerian Students
News
12-Dec-2025

News