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	<title>NEWSVERGE</title>
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		<title>Guterres mourns victims of deadly Spain train crash</title>
		<link>https://newsverge.com/2026/10/28/guterres-mourns-victims-of-deadly-spain-train-crash/</link>
		
		<dc:creator><![CDATA[Cecilia Ologunagba]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:56:56 +0000</pubDate>
				<category><![CDATA[Europe]]></category>
		<category><![CDATA[WORLD]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195774</guid>

					<description><![CDATA[<p>UN Secretary-General, António Guterres, has expressed deep sadness over a train crash in Spain that killed at least 60 people. UN spokesperson, Stéphane Dujarric, told journalists on Wednesday in New York that Guterres was shocked to learn of the accident. Dujarric said the UN chief extended his deepest condolences to the victims’ families, the Spanish [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/guterres-mourns-victims-of-deadly-spain-train-crash/">Guterres mourns victims of deadly Spain train crash</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941859">
<p><em><strong>UN Secretary-General, António Guterres, has expressed deep sadness over a train crash in Spain that killed at least 60 people.</strong></em></p>
<p><span id="more-195774"></span></p>
<p>UN spokesperson, Stéphane Dujarric, told journalists on Wednesday in New York that Guterres was shocked to learn of the accident.</p>
<p>Dujarric said the UN chief extended his deepest condolences to the victims’ families, the Spanish people and the government.</p>
<p>Reports said at least 68 people died when two Spanish high-speed trains collided on Wednesday.</p>
<p>Rescuers continued searching the wreckage for more bodies following Spain’s second fatal rail crash this year.</p>
<p>The accident was also reported as Europe’s deadliest rail disaster since 2013.</p>
<p>Prime Minister Pedro Sánchez said in a televised address near the crash site, south of Madrid, that “all of Spain” was mourning.</p>
<p>Sánchez said the opposition, People’s Party, had cancelled all campaign events ahead of next month’s election.</p>
<p>He described the incident as a “terrible tragedy” and promised a full investigation into its causes.</p>
<p>The prime minister added that the causes of the two rail crashes appeared unrelated.</p>
<p>“If we need to further strengthen safety in order to rebuild confidence in our high-speed rail system, we will do so,” Sánchez said.</p>
<p>He said it was unacceptable for Spain to experience two high-speed rail accidents in the same year.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/guterres-mourns-victims-of-deadly-spain-train-crash/">Guterres mourns victims of deadly Spain train crash</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>FG pays N1.2trn power debt, targets 19,000MW transmission capacity</title>
		<link>https://newsverge.com/2026/10/28/fg-pays-n1-2trn-power-debt-targets-19000mw-transmission-capacity/</link>
		
		<dc:creator><![CDATA[Muhyideen Jimoh]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:53:58 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195786</guid>

					<description><![CDATA[<p>The Federal Government has paid N1.2 trillion of Nigeria’s N2.3 trillion outstanding power sector debt to ease liquidity pressures and improve electricity supply. Minister of Power, Joseph Tegbe, disclosed this on Wednesday while briefing State House correspondents after the Federal Executive Council (FEC) meeting in Abuja. The meeting was presided over by President Bola Tinubu [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/fg-pays-n1-2trn-power-debt-targets-19000mw-transmission-capacity/">FG pays N1.2trn power debt, targets 19,000MW transmission capacity</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941946">
<p><em><strong>The Federal Government has paid N1.2 trillion of Nigeria’s N2.3 trillion outstanding power sector debt to ease liquidity pressures and improve electricity supply.</strong></em></p>
<p><span id="more-195786"></span></p>
<p>Minister of Power, Joseph Tegbe, disclosed this on Wednesday while briefing State House correspondents after the Federal Executive Council (FEC) meeting in Abuja.</p>
<p>The meeting was presided over by President Bola Tinubu at the State House.</p>
<p>Tegbe said the payment formed part of broader efforts to address liquidity challenges, particularly those affecting gas supplies to electricity generation companies.</p>
<p>He said the government was also pursuing measures to stabilise the national grid, strengthen transmission infrastructure and improve electricity delivery to consumers.</p>
<p>According to him, Lagos and adjoining areas account for approximately 50 per cent of national electricity demand, while Abuja, Kano and other locations require infrastructure improvements.</p>
<p>Tegbe said the government planned to expand national transmission capacity from the current 5,000 megawatts to more than 19,000 megawatts.</p>
<p>He said the expansion would bridge infrastructure gaps and accommodate the country’s electricity generation capacity, estimated at more than 13,000 megawatts.</p>
<p>The minister also said prolonged detention of consignments had affected the availability of essential materials needed for electricity infrastructure development.</p>
<p>He said efforts were underway to resolve the outstanding clearance issues.</p>
<p>Tegbe revealed that construction had commenced on a modern National Control Centre in Osogbo, Osun, to replace the existing facility, which had operated for 64 years.</p>
<p>He said the new centre would feature advanced monitoring and control systems to improve grid coordination, operational efficiency and nationwide transmission management.</p>
<p>Tegbe reaffirmed the administration’s commitment to settling outstanding financial obligations, modernising transmission infrastructure and expanding alternative energy solutions to ensure more stable and reliable electricity nationwide.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/fg-pays-n1-2trn-power-debt-targets-19000mw-transmission-capacity/">FG pays N1.2trn power debt, targets 19,000MW transmission capacity</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Tinubu to present 2027 budget in December – Minister</title>
		<link>https://newsverge.com/2026/10/28/tinubu-to-present-2027-budget-in-december-minister/</link>
		
		<dc:creator><![CDATA[Salisu Sani-idris]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:47:28 +0000</pubDate>
				<category><![CDATA[ECONOMY]]></category>
		<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195773</guid>

					<description><![CDATA[<p>President Bola Tinubu will present the 2027 budget proposal to a joint session of the National Assembly before the end of December, 2026. The ​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠​⁠‌​‌​Minister of State for Budget, Dr Doris Uzoka-Anite, disclosed this on Wednesday while briefing journalists on the outcome of the Federal Executive Council (FEC) meeting in Abuja. It was reported that [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/tinubu-to-present-2027-budget-in-december-minister/">Tinubu to present 2027 budget in December – Minister</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941876">
<div dir="auto"><em><strong>President Bola Tinubu will present the 2027 budget proposal to a joint session of the National Assembly before the end of December, 2026.</strong></em></div>
<div dir="auto"><span id="more-195773"></span></div>
<div dir="auto"><img decoding="async" src="data:image/gif;base64,R0lGODdhAQABAPAAAMPDwwAAACwAAAAAAQABAAACAkQBADs=" alt="" width="1" height="1" data-lazyloaded="1" data-src="https://nannews.com.ng/wp-json/nan/v2/track/copy?pid=941876&amp;t=0bf16d13ddc5c0dab9be20506643aaa7" />The ​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠​⁠‌​‌​Minister of State for Budget, Dr Doris Uzoka-Anite, disclosed this on Wednesday while briefing journalists on the outcome of the Federal Executive Council (FEC) meeting in Abuja.</div>
<p>It was reported that the meeting was presided over by Tinubu at the Council Chambers of the Presidential Villa.</p>
<p>“We are working on the 2027 budget, and our intention is to present it before the end of the year,” Uzoka-Anite said.</p>
<p>The proposed presentation is expected to enable the National Assembly to begin considering the budget ahead of the 2027 fiscal year.</p>
<p>Meanwhile, the Minister of Works, David Umahi, announced that FEC had approved N631.3 billion for nine road infrastructure projects nationwide.</p>
<p>Umahi said the projects would strengthen transportation networks, improve connectivity and facilitate economic activities through the construction, reconstruction and rehabilitation of critical road corridors.</p>
<p>He said the approvals included the reconstruction of the 95-kilometre Etuke–Okeni–Ankpa–Otopa Road in Kogi, at a contract sum of N167 billion.</p>
<p>The council also approved N209 billion for reconstructing the 81.1-kilometre Ado–Ilawe–Ilumaba–Ikole Road in Ekiti, including a bridge.</p>
<p>Another N62 billion was approved for the Tungo–Karamti Road linking Adamawa and Taraba, with five bridges incorporated into the project.</p>
<p>Umahi said FEC also approved N20.257 billion for an 18-kilometre road connecting Asiago to the Port Harcourt–Enugu Expressway.</p>
<p>An additional N30 billion was earmarked for remedial works on deteriorated sections of the East–West Road.</p>
<p>The council also approved N11.33 billion for a road project previously undertaken by the Abia Government.</p>
<p>Umahi said the approval followed the discontinuation of its funding arrangement under the Nigerian National Petroleum Company Ltd. tax-credit scheme.</p>
<p>He added that N28.218 billion was approved to rehabilitate a 17-kilometre section of the Sokoto–Illela Road, Route A1.</p>
<p>The minister also commended Tinubu over the completion of the first 118-kilometre section of the Abuja–Kaduna–Zaria Road.</p>
<p>He said the section was completed in 30 months, with 81 kilometres constructed using reinforced concrete pavement.</p>
<p>He added that work on the second section, covering 164 kilometres, was nearing completion, with only 16 kilometres remaining.</p>
<p>Umahi further disclosed that the entire 375-kilometre Abuja–Kaduna–Zaria–Kano corridor would be equipped with solar-powered streetlights.</p>
<p>On the Lagos–Abidjan coastal highway, the minister said ministers from countries along the corridor would meet on Friday to discuss funding arrangements.</p>
<p>He said the highway comprises 79 kilometres in Nigeria, 89 kilometres in Togo, 576 kilometres in Ghana, 155 kilometres in Côte d’Ivoire and 128 kilometres in Benin Republic.</p>
<p>According to Umahi, the proposed arrangement will involve the African Development Bank providing loans to participating countries to finance their respective sections.</p>
<p>He said the regional highway was intended to strengthen connectivity and facilitate trade among participating West African countries.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/tinubu-to-present-2027-budget-in-december-minister/">Tinubu to present 2027 budget in December – Minister</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Nigeria’s economy growing, inflation declining – Finance minister</title>
		<link>https://newsverge.com/2026/10/28/nigerias-economy-growing-inflation-declining-finance-minister/</link>
		
		<dc:creator><![CDATA[Salisu Sani-idris]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:45:39 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195772</guid>

					<description><![CDATA[<p>Nigeria’s net foreign reserves have risen to more than $45 billion from less than $1 billion in 2023, says Finance Minister, Mr Taiwo Oyedele. Oyedele,​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠​‌⁠‌‌​ the Minister of Finance and Coordinating Minister of the Economy, disclosed this while briefing State House correspondents after Wednesday’s Federal Executive Council (FEC) meeting in Abuja. He attributed the improvement [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/nigerias-economy-growing-inflation-declining-finance-minister/">Nigeria’s economy growing, inflation declining – Finance minister</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941853">
<div dir="auto"><em><strong>Nigeria’s net foreign reserves have risen to more than $45 billion from less than $1 billion in 2023, says Finance Minister, Mr Taiwo Oyedele.</strong></em></div>
<div dir="auto"><span id="more-195772"></span></div>
<div dir="auto"><img decoding="async" src="data:image/gif;base64,R0lGODdhAQABAPAAAMPDwwAAACwAAAAAAQABAAACAkQBADs=" alt="" width="1" height="1" data-lazyloaded="1" data-src="https://nannews.com.ng/wp-json/nan/v2/track/copy?pid=941853&amp;t=2251bc893c7c4051f86a6a0e0950b303" />Oyedele,​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠​‌⁠‌‌​ the Minister of Finance and Coordinating Minister of the Economy, disclosed this while briefing State House correspondents after Wednesday’s Federal Executive Council (FEC) meeting in Abuja.</div>
<p>He attributed the improvement to economic reforms introduced by President Bola Tinubu’s administration.</p>
<p>The minister said Nigeria’s economic growth rate increased from 2.74 per cent in May 2023, when the reforms began, to 4.43 per cent in the second quarter of 2026.</p>
<p>He added that economic growth in US dollar terms reached 17 per cent in the first half of 2026, placing Nigeria among the leading contributors to global Gross Domestic Product (GDP) growth.</p>
<p>Oyedele said inflation declined to 14.63 per cent in September from 20.98 per cent a year earlier, following a peak of approximately 34 per cent.</p>
<p>He said the removal of petrol subsidies and foreign exchange market adjustments helped avert a deeper economic crisis.</p>
<p>According to him, subsidy removal in 2023 addressed a longstanding structural problem that had persisted for about five decades, with its benefits beginning to accrue.</p>
<p>Oyedele added that the naira had stabilised, trading between N1,330 and N1,350 to the dollar.</p>
<p>On public finance, he said Nigeria’s tax-to-GDP ratio rose from about seven per cent in 2023 to approximately 12.5 per cent at the end of 2025.</p>
<p>He added that the debt-service-to-revenue ratio declined from nearly 100 per cent to below 60 per cent.</p>
<p>The minister said Federation Account allocations increased by 44 per cent between 2024 and 2025, with the government projecting a further increase of at least 50 per cent in 2026.</p>
<p>He maintained that revenue growth remained significant even after accounting for inflation.</p>
<p>On the social impact of the reforms, Oyedele said more than N372.6 billion had been disbursed to over 1.5 million students through the Nigerian Education Loan Fund (NELFUND).</p>
<p>He added that more than 10 million households had received cash transfers worth over N600 billion, with the government targeting at least 15 million households.</p>
<p>According to him, more than 800,000 micro, small and medium-sized enterprises (MSMEs) had benefited from subsidised single-digit interest loans.</p>
<p>He said low-income earners receiving up to N100,000 monthly were exempted from personal income tax under the tax reforms.</p>
<p>Oyedele added that eligible small businesses with annual turnover not exceeding N100 million were exempted from corporate income tax, Value Added Tax (VAT) and withholding tax, subject to applicable provisions.</p>
<p>He further disclosed that Nigeria’s capital market had expanded from about N30 trillion to more than N160 trillion in three years.</p>
<p>The minister attributed improved international investor confidence to the reforms, citing credit-rating upgrades and positive outlooks from major rating agencies.</p>
<p>On decisions reached at the FEC meeting, Oyedele said the council approved projects targeting electricity supply, transportation, food security and border security.</p>
<p>He listed a 155.9-million-euro credit facility from Deutsche Bank and other lenders to upgrade five electricity substations under the Presidential Power Initiative.</p>
<p>He said the project would improve electricity reliability for households and businesses while helping to reduce energy costs.</p>
<p>The council also considered a $970 million syndicated term loan involving Standard Chartered and the Africa Finance Corporation for rolling stock on the Kano–Maradi railway line.</p>
<p>Oyedele said the investment would improve freight transportation, promote regional trade and reduce logistics costs.</p>
<p>He also announced approvals for non-intrusive inspection scanners, technical support, repairs and maintenance for the Nigeria Customs Service.</p>
<p>According to him, the investments will accelerate cargo clearance and strengthen the detection of contraband and dangerous weapons.</p>
<p>Addressing the external borrowing plan submitted to the National Assembly, Oyedele said its total value was $21.7 billion after converting the euro-denominated component into dollars.</p>
<p>He stressed that the figure represented a borrowing plan, not money already borrowed, adding that the government might not draw down the entire amount.</p>
<p>Oyedele said the projects had an average implementation period of five years and covered transportation, defence, security, health, agriculture, energy, digital infrastructure, finance, MSMEs, social protection, the environment and education.</p>
<p>He said approximately $10.6 billion was earmarked for transportation infrastructure, including the Sokoto–Badagry and Lagos–Calabar highways and the Kano–Kaduna metro rail project.</p>
<p>The minister said about $7.9 billion would come from multilateral and bilateral development partners.</p>
<p>He cited a $5 billion World Bank component, with concessional interest rates averaging 2.1 per cent.</p>
<p>He added that social-sector projects would largely receive concessional financing at average interest rates of about two per cent, while commercial components had an indicative average rate of 7.8 per cent.</p>
<p>The minister said approximately $4.8 billion was intended for subnational governments, the Federal Capital Territory, government agencies and development finance institutions.</p>
<p>He argued that borrowing for productive investments should be assessed by the value of assets and economic benefits created, rather than the amount borrowed alone.</p>
<p>On food security, Oyedele said the Federal Government was adopting a coordinated national approach involving federal, state and local governments.</p>
<p>He said the immediate strategy was to stabilise or reduce prices of essential food items, including rice, yam, beans and maize, in the coming months.</p>
<p>He explained that the government would assess domestic food production and consumption to identify supply gaps and guide import decisions without discouraging local farmers.</p>
<p>The minister said the National Economic Council’s 90-day action plan would support coordinated implementation across the three tiers of government.</p>
<p>He added that the FEC had endorsed the council’s five priority programmes, the national economic policy framework and the national development plan.</p>
<p>Oyedele said the administration remained committed to fiscal discipline, expanding investment and creating decent jobs to improve Nigerians’ living standards.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/nigerias-economy-growing-inflation-declining-finance-minister/">Nigeria’s economy growing, inflation declining – Finance minister</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>FEC approves N631.3bn for 9 road projects nationwide</title>
		<link>https://newsverge.com/2026/10/28/fec-approves-n631-3bn-for-9-road-projects-nationwide/</link>
		
		<dc:creator><![CDATA[Muhyideen Jimoh]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:41:39 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195770</guid>

					<description><![CDATA[<p>The Federal Executive Council (FEC) has approved N631.3 billion for nine road projects nationwide to improve connectivity, ease transportation and support economic growth. The Minister of Works, David Umahi, disclosed this on Wednesday while briefing State House correspondents after the Council meeting presided over by President Bola Tinubu in Abuja. Umahi said the projects covered [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/fec-approves-n631-3bn-for-9-road-projects-nationwide/">FEC approves N631.3bn for 9 road projects nationwide</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941929">
<p><em><strong>The Federal Executive Council (FEC) has approved N631.3 billion for nine road projects nationwide to improve connectivity, ease transportation and support economic growth.</strong></em></p>
<p><span id="more-195770"></span></p>
<p>The Minister of Works, David Umahi, disclosed this on Wednesday while briefing State House correspondents after the Council meeting presided over by President Bola Tinubu in Abuja.</p>
<p>Umahi said the projects covered the construction, reconstruction and rehabilitation of major roads to improve accessibility and facilitate the movement of people and goods.</p>
<p>The largest allocation was N209 billion for reconstructing the 81.1-kilometre Ado–Ilawe–Ilumaba–Ikole Road in Ekiti, including a bridge.</p>
<p>The Council also approved N167 billion for reconstructing the 95-kilometre Etuke–Okeni–Ankpa–Otopa Road in Kogi.</p>
<p>Another N89.2 billion was approved for constructing the 47-kilometre Bichi Ring Road, including a flyover.</p>
<p>Umahi said FEC approved about N62 billion for the Tungo–Karamti Road linking Adamawa and Taraba, which will include five bridges.</p>
<p>Other approvals included N30 billion for remedial works on deteriorated sections of the East–West Road.</p>
<p>The Council also approved N28.218 billion for rehabilitating a 17-kilometre section of the Sokoto–Illela Road, Route A1.</p>
<p>Umahi said N20.257 billion was approved for an 18-kilometre road linking Asiago to the Port Harcourt–Enugu Expressway.</p>
<p>He added that N11.33 billion was approved for a road project previously undertaken by the Abia Government.</p>
<p>The project required federal intervention after its funding arrangement under the Nigerian National Petroleum Company Ltd.’s tax-credit scheme was discontinued.</p>
<p>Umahi said the Council commended Tinubu on completing the first 118-kilometre section of the Abuja–Kaduna–Zaria Road.</p>
<p>He said the section was completed in 30 months, with 81 kilometres constructed using reinforced concrete pavement.</p>
<p>Work on the second section, covering 164 kilometres, was nearing completion, with only 16 kilometres remaining.</p>
<p>The minister added that solar-powered streetlights would be installed along the entire 375-kilometre Abuja–Kaduna–Zaria–Kano corridor.</p>
<p>On the Lagos–Abidjan coastal highway, Umahi said ministers from participating countries would meet on Friday to discuss funding arrangements.</p>
<p>He said Nigeria’s section covered 79 kilometres, while Togo accounted for 89 kilometres, Ghana 576 kilometres, Côte d’Ivoire 155 kilometres and Benin Republic 128 kilometres.</p>
<p>According to Umahi, the proposed arrangement will involve the African Development Bank providing loans to participating countries to finance their respective sections.</p>
<p>The regional highway is expected to strengthen connectivity and facilitate trade among participating West African countries.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/fec-approves-n631-3bn-for-9-road-projects-nationwide/">FEC approves N631.3bn for 9 road projects nationwide</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Women, youths key to Nigeria&#8217;s $1tn economy — Shettima</title>
		<link>https://newsverge.com/2026/10/28/women-youths-key-to-nigerias-1tn-economy-shettima/</link>
		
		<dc:creator><![CDATA[Ibironke Ariyo]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:40:15 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195769</guid>

					<description><![CDATA[<p>Vice-President Kashim Shettima says women and young people must play central roles in building Nigeria’s proposed $1 trillion economy through enterprise, investment and innovation. Shettima stated this in Abuja on Wednesday at the Aspire Women Forum masterclass. It was reported that the event’s theme is ‘From Survival to Thriving: Empowering Women and Youth for Export [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/women-youths-key-to-nigerias-1tn-economy-shettima/">Women, youths key to Nigeria&#8217;s $1tn economy — Shettima</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941882">
<p><em><strong>Vice-President Kashim Shettima says women and young people must play central roles in building Nigeria’s proposed $1 trillion economy through enterprise, investment and innovation.</strong></em></p>
<p><span id="more-195769"></span></p>
<p>Shettima stated this in Abuja on Wednesday at the Aspire Women Forum masterclass.</p>
<p>It was reported that the event’s theme is ‘From Survival to Thriving: Empowering Women and Youth for Export Readiness, Global Market Access and Prosperity under the Renewed Hope Agenda’.</p>
<p>The Vice-President was represented by Inna Binta Audu, Special Assistant to the President on Humanitarian Affairs and Development Partners.</p>
<p>He described the transition from survival to thriving as an economic imperative and national development priority.</p>
<p>“The true measure of this masterclass will not be the number of people in this hall, but the number of businesses that become stronger.</p>
<p>“This also includes the number of entrepreneurs who reach new markets and the number of livelihoods transformed by what is learnt here,” he said.</p>
<p>Shettima said President Bola Tinubu’s Renewed Hope Agenda was anchored on productive enterprise, investment, innovation and Nigerians’ capacity to create value.</p>
<p>He said: “Our ambition to build a one-trillion-dollar economy cannot be realised by government alone.</p>
<p>“It requires an ecosystem in which businesses can emerge, grow, compete and contribute to national development.”</p>
<p>He said women’s and youths’ economic participation would expand productive capacity, strengthen household incomes, create jobs and widen opportunities for future generations.</p>
<p>However, he stressed that inclusion must extend beyond training programmes and empowerment announcements to provide practical access to resources and markets.</p>
<p>“It must mean access to the tools, institutions and markets that enable people to convert their skills into sustainable income,” he said.</p>
<p>The Vice-President commended Aspire Women Forum founder, Dr Zainab Marwa, and its partners for organising the masterclass.</p>
<p>Earlier, Marwa said many Nigerians worked long hours farming, sewing, processing food, producing goods and providing services but retained little income monthly.</p>
<p>She attributed the challenge partly to poor record-keeping, lack of business registration, unsuitable financing, weak packaging and limited access to buyers.</p>
<p>Marwa commended the Federal Government for supporting enterprise and economic inclusion through the Renewed Hope Agenda.</p>
<p>She cited intervention financing for small businesses through the Bank of Industry and government attention to skills development and digital enterprise.</p>
<p>She said the masterclass was designed to help participants understand and access such opportunities.</p>
<p>Marwa disclosed that the forum had extended participation to young men alongside women and young women, recognising that unstable incomes affected entire households.</p>
<p>She reaffirmed the organisation’s commitment to women’s advancement and said engagement with participants would continue beyond the masterclass.</p>
<p>According to her, a dedicated Aspire team would provide ongoing communication, referrals and further learning opportunities.</p>
<p>Marwa thanked Shettima for the support his office provided to the initiative.</p>
<p>She also acknowledged Dr Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation, whose meeting with her in Geneva strengthened her resolve.</p>
<p>She further commended Dr Queen Onyinye Okpa, founder of Women in Agribusiness, Trade and Export (WATEX), and other supporters.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/women-youths-key-to-nigerias-1tn-economy-shettima/">Women, youths key to Nigeria&#8217;s $1tn economy — Shettima</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>Ebola: FEC approves N45.8bn airport biosecurity system</title>
		<link>https://newsverge.com/2026/10/28/ebola-fec-approves-n45-8bn-airport-biosecurity-system/</link>
		
		<dc:creator><![CDATA[Salisu Sani-idris]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:38:22 +0000</pubDate>
				<category><![CDATA[Health]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195768</guid>

					<description><![CDATA[<p>The Federal Executive Council (FEC) has approved N45.8 billion for a biosecurity and disease surveillance system at five international airports to strengthen Nigeria’s capacity to detect Ebola and other dangerous pathogens. Coordinating ​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠‌‌⁠⁠‌​Minister of Health and Social Welfare, Prof. Ali Pate, disclosed this on Wednesday while briefing State House correspondents on the outcome of the [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/ebola-fec-approves-n45-8bn-airport-biosecurity-system/">Ebola: FEC approves N45.8bn airport biosecurity system</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941919">
<p><em><strong>The Federal Executive Council (FEC) has approved N45.8 billion for a biosecurity and disease surveillance system at five international airports to strengthen Nigeria’s capacity to detect Ebola and other dangerous pathogens.</strong></em></p>
<p><span id="more-195768"></span></p>
<p>Coordinating ​‌‌&#x200d;​&#x200d;⁠⁠&#x200d;‌‌⁠⁠‌‌⁠⁠‌​Minister of Health and Social Welfare, Prof. Ali Pate, disclosed this on Wednesday while briefing State House correspondents on the outcome of the Council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.</p>
<p>It was reported that the project will be implemented under a 20-year public-private partnership concession awarded to the BioHealth Consortium.</p>
<p>Pate said the initiative would strengthen disease surveillance at the country’s entry points, improve early detection of infectious diseases and protect public health and economic activities.</p>
<p>“Over the last two weeks, I think you realise the significance of enhancing biosecurity at our points of entry.</p>
<p>“Since COVID, we have known that there are significant vulnerabilities in terms of public health threats crossing borders.</p>
<p>“And the need for coordinated, technology-driven systems for early warning, detection and response to emerging infectious disease threats,” he said.</p>
<p>According to Pate, the system will be deployed at five international airports, including Murtala Muhammed International Airport, Lagos; Nnamdi Azikiwe International Airport, Abuja; Mallam Aminu Kano International Airport, Kano; Port Harcourt International Airport; and Akanu Ibiam International Airport, Enugu.</p>
<p>He said more than 18 million passengers pass through Nigeria’s airports annually, making effective surveillance at points of entry critical to national health security.</p>
<p>The minister said the project was partly informed by lessons from Nigeria’s recent response to the Ebola threat.</p>
<p>He disclosed that Nigeria had sustained surveillance and containment measures before confirming an imported Ebola case in October.</p>
<p>Pate said the affected patient had recovered after receiving treatment in Nigeria and was continuing to improve in her home country.</p>
<p>He warned that the threat remained, given the continued spread of Ebola in the Democratic Republic of the Congo and the possibility of other infectious diseases entering Nigeria.</p>
<p>On government support for people placed in isolation or quarantine, Pate said the intervention was designed to encourage compliance and prevent community transmission.</p>
<p>He explained that some identified contacts, including people who transported or interacted with the patient after she developed symptoms, depended on daily earnings to support their families.</p>
<p>“If you ask them to stay in quarantine, they have a livelihood and a family. They may find ways to evade it, and that will put everybody at risk,” he said.</p>
<p>The minister described the support as a targeted public health intervention to ensure that identified contacts remained in quarantine and protect the wider population.</p>
<p>“It is a global public good, and it is circumscribed. By no means will it be applicable if we have the unfortunate situation of community transmission,” he said.</p>
<p>Pate said the authorities were determined to prevent the outbreak from spreading beyond the identified contacts.</p>
<p>He added that the contacts were required to undergo 21 days of quarantine, corresponding to Ebola’s incubation period of two to 21 days.</p>
<p>“We are not taking any chances,” he said, adding that health authorities would continue monitoring the contacts and respond swiftly to any suspected infection.</p>
<p>Pate said the government was pursuing a two-pronged strategy of containing the existing Ebola threat and strengthening border surveillance to prevent new cases from entering the country.</p>
<p>He expressed confidence that the new system would improve early detection of emerging threats, strengthen inter-agency coordination and protect Nigeria against future public health emergencies.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/ebola-fec-approves-n45-8bn-airport-biosecurity-system/">Ebola: FEC approves N45.8bn airport biosecurity system</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>CBN to consider banks’ challenges over data localisation</title>
		<link>https://newsverge.com/2026/10/28/cbn-to-consider-banks-challenges-over-data-localisation/</link>
		
		<dc:creator><![CDATA[Joy Oyerinde]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:35:04 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195766</guid>

					<description><![CDATA[<p>The Central Bank of Nigeria (CBN) says it will consider financial institutions’ challenges in meeting the January 2027 data-localisation deadline, as a survey shows gaps in implementation readiness across the sector. Dr Rakiya Yusuf, Director, Payments System Supervision Department, CBN, gave the assurance at an Executive Regulatory Dialogue on the National Sovereign Cloud Initiative and [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/cbn-to-consider-banks-challenges-over-data-localisation/">CBN to consider banks’ challenges over data localisation</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
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<p class="p1"><em><strong><span class="s1">The Central Bank of Nigeria (CBN) says it will consider financial institutions’ challenges in meeting the January 2027 data-localisation deadline, as a survey shows gaps in implementation readiness across the sector.</span></strong></em></p>
<p><span id="more-195766"></span></p>
<p class="p1"><span class="s1">Dr Rakiya Yusuf, Director, Payments System Supervision Department, CBN, gave the assurance at an Executive Regulatory Dialogue on the National Sovereign Cloud Initiative and Data Localisation Implementation in Lagos on Wednesday.</span></p>
<p class="p1"><span class="s1">Yusuf said the apex bank was prioritising engagement and guidance to help institutions comply with its June 15 circular requiring payment transaction data generated in Nigeria to be stored and managed within the country.</span></p>
<p class="p1"><span class="s1">She urged institutions experiencing difficulties to write to the Payments System Supervision Department, stating their challenges and proposed compliance plans for consideration on a case-by-case basis.</span></p>
<p class="p1"><span class="s1">She said the CBN would use feedback from the dialogue to develop further guidance, including frequently asked questions, to clarify the requirements.</span></p>
<p class="p1"><span class="s1">Yusuf, however, warned that deliberate attempts to frustrate compliance could attract sanctions.</span></p>
<p class="p1"><span class="s1">The need for regulatory engagement comes as a survey presented by the National Information Technology Development Agency (NITDA) showed that 22 of 44 financial institutions surveyed had yet to begin implementing measures to meet the Jan. 1, 2027 deadline.</span></p>
<p class="p1"><span class="s1">Dr Muhammad Lawal, Special Assistant to the NITDA Director-General on Policy, who presented the findings, said 26 institutions expected to complete implementation by the deadline, while 15 considered completion unlikely or very unlikely.<br />
</span></p>
<p class="p1"><span class="s1">He said three others could not assess their readiness.</span></p>
<p class="p1"><span class="s1">The survey also showed that 70 per cent of the institutions had identified relevant data and systems, 23 per cent had engaged local service providers, and 25 per cent had obtained board approval.<br />
</span></p>
<p class="p1"><span class="s1">Only 18 per cent had begun migration or remediation activities.</span></p>
<p class="p1"><span class="s1">Lawal said uncertainty over the scope of payment transaction data and the meaning of data being stored and managed in Nigeria remained major concerns.</span></p>
<p class="p1"><span class="s1">The survey received responses from 47 financial institutions and 42 digital infrastructure providers, although the number of responses varied across individual questions. </span></p>
<p class="p1"><span class="s1">The findings were self-reported, anonymised and aggregated, and did not constitute a formal regulatory compliance assessment.</span></p>
<p class="p1"><span class="s1">In his keynote address, CBN Deputy Governor, Financial System Stability, Dr Lamido Yuguda, said cloud computing offered opportunities to improve efficiency, scalability and innovation but also introduced risks relating to cybersecurity, operational resilience, data protection and dependence on third-party technology providers.</span></p>
<p class="p1"><span class="s1">He cautioned that data localisation alone would not guarantee security, stressing that financial institutions remained responsible for managing risks associated with their cloud service providers.</span></p>
<p class="p1"><span class="s1">Yuguda called for a balanced and collaborative implementation approach that would strengthen financial system resilience without unnecessarily constraining innovation or isolating Nigeria from global technology.</span></p>
<p class="p1"><span class="s1">CBN Deputy Director and Head of Information Technology Infrastructure Management Division, Dr Alexander Akinsowon, also highlighted the risks of relying on offshore infrastructure, citing disruptions caused by submarine cable outages in 2024, which affected connectivity and took time to resolve.</span></p>
<p class="p1"><span class="s1">Meanwhile, the survey indicated that 79 per cent of digital infrastructure providers were ready to accommodate financial-sector workloads, while 74 per cent said they could onboard new customers within three months.</span></p>
<p class="p1"><span class="s1">Mr Ikechukwu Nnamani, Managing Director of Digital Realty Nigeria, said local infrastructure providers were positioned to support the transition, but sustained investment would be required to expand capacity.</span></p>
<p class="p1"><span class="s1">He said a typical megawatt-scale data-centre facility could cost between 12 million dollars and 15 million dollars to develop and take two to three years to build.</span></p>
<p class="p1"><span class="s1">Mr Olugbenga Paseda, Governing Council Member of the Fintech Association of Nigeria and Chief Executive Officer of Chrisborough, said fintech companies faced particular challenges because many relied on global cloud providers.</span></p>
<p class="p1"><span class="s1">He identified costs, power supply, connectivity, security and uncertainty over regulatory requirements as issues requiring attention to support implementation.</span></p>
<p class="p1"><span class="s1">Paul Adigu, Director of Cloud Ecosystem at Huawei Cloud, said organisations needed to assess their readiness, map their services and establish clear responsibilities and migration timelines to support an orderly transition.</span></p>
<p class="p1"><span class="s1">A representative of the Nigerian Data Protection Commission stressed that personal data protection obligations remained important regardless of where data was hosted, while cross-border transfers had to comply with applicable legal safeguards.</span></p>
<p class="p1"><span class="s1">The dialogue brought together regulators, financial institutions, fintech operators and technology providers to address implementation challenges and identify practical measures ahead of the January 2027 deadline.</span></p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/cbn-to-consider-banks-challenges-over-data-localisation/">CBN to consider banks’ challenges over data localisation</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>MTN set for large data centre in Nigeria</title>
		<link>https://newsverge.com/2026/10/28/mtn-set-for-large-data-centre-in-nigeria/</link>
		
		<dc:creator><![CDATA[Rose Okudaye And Stellamaris Ashinze]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:31:07 +0000</pubDate>
				<category><![CDATA[BUSINESS]]></category>
		<category><![CDATA[ECONOMY]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195765</guid>

					<description><![CDATA[<p>MTN Group plans to establish a large data centre in Nigeria to strengthen the country’s capacity to host sensitive digital information locally. Group President and Chief Executive Officer Ralph Mupita disclosed this on Wednesday during a fireside chat with MTN Media Innovation Programme (MIP 5) fellows in Lagos. He said the proposed facility would support [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/mtn-set-for-large-data-centre-in-nigeria/">MTN set for large data centre in Nigeria</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941751">
<p><em><strong>MTN Group plans to establish a large data centre in Nigeria to strengthen the country’s capacity to host sensitive digital information locally.</strong></em></p>
<p><span id="more-195765"></span></p>
<p>Group President and Chief Executive Officer Ralph Mupita disclosed this on Wednesday during a fireside chat with MTN Media Innovation Programme (MIP 5) fellows in Lagos.</p>
<p>He said the proposed facility would support Nigeria’s growing data sovereignty needs as governments and businesses increasingly prioritised local data storage.</p>
<p>“One of the questions we are considering is whether to build our own data centres in Nigeria. We have an aspiration to establish a large data centre in the country to help meet Nigeria’s sovereign data needs,” he said.</p>
<p>Mupita said global discussions on data sovereignty increasingly favoured keeping sensitive digital workloads within national borders, particularly in banking, healthcare and national security.</p>
<p>He said a hybrid approach could combine local hosting for sensitive information with public cloud services for less sensitive workloads.</p>
<p>According to him, the appropriate arrangement would depend on individual countries’ needs and regulatory requirements.</p>
<p>Mupita said MTN planned to accelerate investment in Nigeria’s digital infrastructure over the next five years, citing the country’s growth prospects.</p>
<p>He identified fibre connectivity to homes and businesses as a major opportunity, predicting rising demand for data and high-capacity internet services.</p>
<p>The MTN chief also stressed the need to protect critical digital infrastructure, including fibre-optic networks and data centres, from disruptive incidents.</p>
<p>He identified fibre cuts as a persistent challenge to network quality, warning that damaged cables could disrupt household connectivity and essential services.</p>
<p>Mupita said he had discussed the impact of fibre cuts on service quality with the Executive Vice-Chairman of the Nigerian Communications Commission (NCC) in Abuja.</p>
<p>He noted that growing dependence on digital systems in banking, healthcare and other essential sectors made stronger infrastructure protection increasingly important.</p>
<p>On digital inclusion, Mupita identified device affordability as a major barrier to internet access and participation in the emerging artificial intelligence economy.</p>
<p>He warned that rising smartphone prices could prevent more Africans from accessing internet-based services and emerging AI technologies.</p>
<p>He said affordable digital devices were essential to ensuring Africans could participate meaningfully in the AI-driven economy.</p>
<p>Mupita also called for greater collaboration among telecommunications operators and other stakeholders to increase African language representation in AI systems.</p>
<p>He warned that the underrepresentation of African languages on digital platforms could limit the usefulness of AI technologies to millions across the continent.</p>
<p>Mupita, vice-chairman of the GSM Association (GSMA), said industry collaboration was necessary to ensure technological progress did not deepen existing digital inequalities.</p>
<p>He reaffirmed MTN’s commitment to media development, describing journalism as an important pillar of democracy and societal development.</p>
<p>Mupita commended journalists for their work and highlighted the MTN Media Innovation Programme’s role in strengthening media capacity.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/mtn-set-for-large-data-centre-in-nigeria/">MTN set for large data centre in Nigeria</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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		<title>TUC rejects FG’s N70,000 transport allowance, demands salary hike</title>
		<link>https://newsverge.com/2026/10/28/tuc-rejects-fgs-n70000-transport-allowance-demands-salary-hike/</link>
		
		<dc:creator><![CDATA[Joan Nwagwu]]></dc:creator>
		<pubDate>Wed, 28 Oct 2026 22:28:58 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://newsverge.com/?p=195764</guid>

					<description><![CDATA[<p>The Trade Union Congress of Nigeria (TUC) has rejected the Federal Government’s proposed N70,000 transport allowance, demanding an immediat salary review to cushion current economic hardship. This is contained in a statement jointly signed by TUC President, Mr Festus Osifo, and Secretary-General, Mr Nuhu Toro, on Wednesday in Abuja. The Federal Government and the Nigeria [&#8230;]</p>
<p>The post <a href="https://newsverge.com/2026/10/28/tuc-rejects-fgs-n70000-transport-allowance-demands-salary-hike/">TUC rejects FG’s N70,000 transport allowance, demands salary hike</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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										<content:encoded><![CDATA[<div class="nan-article-with-tracker" data-nan-article="" data-nan-post-id="941630">
<p><em><strong> The Trade Union Congress of Nigeria (TUC) has rejected the Federal Government’s proposed N70,000 transport allowance, demanding an immediat salary review to cushion current economic hardship.</strong></em></p>
<p><span id="more-195764"></span></p>
<p>This is contained in a statement jointly signed by TUC President, Mr Festus Osifo, and Secretary-General, Mr Nuhu Toro, on Wednesday in Abuja.</p>
<p>The Federal Government and the Nigeria Labour Congress (NLC) had on Tuesday signed an agreement approving an N70,000 monthly transport allowance to cushion the effect of rising living costs for federal public servants.</p>
<p>However, the TUC rejected the agreement, describing temporary transport allowance as inadequate, unsustainable and non-far-reaching to address the reality of rising inflation.</p>
<p>According to the congress, a previous wage award agreed upon by the government and organised labour on Oct. 2, 2023, was not fully implemented, despite being intended to last until the negotiation of a new minimum wage in 2024.</p>
<p>It noted that some workers were still owed one or two months of the previous award, while others received nothing, adding that payments to beneficiaries were generally irregular.</p>
<p>The congress further alleged that over 80 per cent of state governments and operators in the informal sector failed to implement any form of wage award.</p>
<p>“Negotiation of a new national minimum wage must not become an excuse for postponing urgent pay increments.</p>
<p>“The Federal Government can increase salaries without waiting for minimum wage negotiations, as no law prescribes a maximum wage in the country,” it said.</p>
<p>The TUC highlighted states that had raised their minimum wage above N100,000, arguing that the Federal Government could similarly raise the pay of its lowest-paid worker and apply appropriate consequential adjustments across board.</p>
<p>The congress urged governments at all levels to reduce the cost of essential goods and services, ensure timely payment of salaries and pensions, protect jobs, and curb exploitative labor practices.</p>
<p>It also called for the revitalization of the productive sector to generate decent employment, stressing that economic interventions must be inclusive and supported by clear implementation timelines.</p>
<p>Commenting on the Joint Health Sector Unions (JOHESU), the TUC demanded the immediate implementation of the agreement on the adjustment of the Consolidated Health Salary Structure (CONHESS).</p>
<p>It expressed concern that the adjustment remained unimplemented seven months after the agreement was reached, despite JOHESU suspending its prolonged industrial action in good faith.</p>
<p>The congress urged the Federal Government to honour the agreement, publish an implementation timetable and make the necessary budgetary provisions to resolve outstanding issues.</p>
<p>The TUC reaffirmed its commitment to supporting affected affiliate unions and pursuing lawful measures to secure compliance, adding that it awaited the outcome of its scheduled meeting with the government before deciding on its next line of action.</p>
</div>
<p>The post <a href="https://newsverge.com/2026/10/28/tuc-rejects-fgs-n70000-transport-allowance-demands-salary-hike/">TUC rejects FG’s N70,000 transport allowance, demands salary hike</a> appeared first on <a href="https://newsverge.com">NEWSVERGE</a>.</p>
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