Nation
NSIA Records N160bn Income
The Nigeria Sovereign Investment Authority (NSIA) says it had a strong year in 2020, recording N160.06billion in total comprehensive income amounting to 343 per cent growth compared to N36.15billion in 2019.
The Managing Director, Mr Uche Orji, revealed this in a virtual media conference on the presentation of the NSIA’s 2020 Audited Financial Statements and Performance Review, yesterday, in Abuja.
Orji attributed the growth, in spite of the challenges of Covid-19, to strong performance from its investments in international capital markets, improved contribution from subsidiaries and affiliates and exchange gain from foreign currency positions.
He added that the authority achieved 33 per cent growth in net assets amounting to N772.75billion as against N579.54billion in the previous year.
He also said that the NSIA received additional contribution of $250million and provided first stabilisation support of $150million from the Stabilisation Fund to the Federal Government.
According to him, the authority also received $311million from funds recovered from late Gen Sani Abacha from the US Department of Justice and Island of Jersey.
He said that the funds were deployed towards the Presidential Infrastructure Development Fund (PIDF) projects of Abuja-Kaduna-Kano Highway, Lagos-Ibadan Expressway and the Second Niger Bridge.
“The 2020 fiscal year was characterised by high volatility and global market uncertainty on account of Covid-19 in the first half.
“However, the authority’s strategic investments generated respectable returns in spite of the impact of Covid-19.
“Notably, NSIA has invested in various private equity and venture capital investment funds to tap into the high-growth sectors.
“NSIA expects that the outlook for 2021 would be positive, however, we expect bouts of volatility as global markets adjust and recover from the impact of the pandemic.”
Speaking on some of the projects and interventions the organisation was involved in; he said that it entered a strategic collaboration with BBVGH for cancer treatments.
Orji said that the group was helping in training personnel and bringing in lower costs cancer medicine for those who were in the NSIA-Lagos University Teaching Hospital Cancer Centre.
He also said it had operationalised the NSIA-Kano Diagnostic Centre and the NSIA-Umuahia Diagnostic Centre which were developed as first-rate diagnostic centres with individual investments of $5.5million each.
For the power sector, Orji said that the NSIA was building a 10 megawatts solar power plant in Kano, which presently was the single largest in Nigeria.
“Expected to be completed at the end of 2022 at a cost of about $15million, the plant would link industrial customers to an additional source of power supply,” he said.
He said it was also setting up a platform with International Development Finance Institutions (DFIs) to allow it spread across various parts of the country.
In agriculture, through the Presidential Fertiliser Initiative (PFI), it produced 12million 50 kilogram bags of NPK 20:10:10 equivalent in 2020.
This, he said, brought the total production since inception to over 30 million 50kg bags equivalent, while the number of participating blending plants increased to 44 from less than seven at inception.
Orji added that the NSIA completed construction of 3,000 hectares Panda Agric Farm in Nasarawa, the first project of the UFF-NSIA partnership.
He said that the NSIA launched Nigeria’s Innovation Fund to address investment opportunities within Nigeria in Information technology.
According to him, with immediate pipeline it includes data networking, data centres, software and services as well as Agri-tech and Bio-tech.
Speaking on gas industrialisation, he said significant progress had been made on developing the Ammonia and Diammonium phosphate production plants in partnership with OCP.
For 2021, he said the organisation was looking forward to completing the concession, capital raise and operationalisation of the Lagos-Ibadan Expressway, Second Niger Bridge and Abuja-Kaduna-Kano Highway.
“In the Future Generations Fund, we expect to allocate more capital to venture capital, global equity markets and an increasing exposure to European equities where we had been under exposed in 2020.
“NSIA believes that broad opening of the markets will provide a comprehensive lift to equities. Although NSIA believes the market is unlikely to repeat some of the performance of 2020.
“It is more likely that a broader market recovery will occur with economies opening unlike the case in 2020 in which technology stocks drove market performance.”
The NSIA was set up to manage funds in excess of budgeted hydrocarbon revenues.
Its mission is to play a leading role in driving sustained economic development for the benefit of all Nigerians.
This would be through building a savings base for the Nigerian people, enhancing the development of Nigeria’s infrastructure and providing stabilisation support in times of economic stress.
Nation
Sachet Alcohol Fuels Binge Drinking Among Nigerian Youths, Group Warns
The Standard Bearers (SB) Islamic Organisation has raised concerns over the growing rate of binge drinking among Nigerian youths, attributing the trend largely to the widespread availability of sachet alcohol.
The group’s position follows the recent move by the National Agency for Food and Drug Administration and Control (NAFDAC) to enforce a ban on alcoholic beverages packaged in sachets and bottles below 200 millilitres.
In a statement jointly signed by its National Coordinator, Dr. Nurudeen AbdulRaheem, and National Secretary, Malam Qaasim Adegbuyi, the organisation declared its full support for NAFDAC’s decision, describing it as a timely and necessary public health intervention.
AbdulRaheem noted that sachet alcohol, often sold for as little as ?100, has made excessive drinking more accessible, particularly to young people and minors. According to him, the affordability and small packaging of such products have worsened binge drinking, youth addiction and community insecurity.
He explained that binge drinking involves consuming multiple alcoholic drinks within a short period, typically within two hours, a practice that can lead to severe physical and mental health complications as well as legal and social problems.
The SB National Coordinator cited global health data indicating that alcohol is responsible for more than three million deaths annually worldwide and remains a major contributor to road accidents, violence, liver disease and mental health disorders.
While acknowledging concerns from industry stakeholders over the economic implications of the ban, AbdulRaheem maintained that public health considerations must take precedence.
“Public health and the protection of young lives must come first,” he stated, adding that Islamic ethical values, like many societal norms, emphasise the protection of life, intellect and family stability.
The organisation urged NAFDAC and the Federal Government to remain resolute in implementing the policy while also providing transition support for businesses that may be affected by the ban.
According to the group, the enforcement of the ban represents a significant step toward promoting a safer and healthier society.
By Favour James
Nation
HYPREP Unleashes 100 Ogoni Youths Into Maritime Industry …Tasks Them On Discipline, Safety
The Hydrocarbon Pollution Remediation Project (HYPREP) has successfully concluded its Seafarers Training Programme for 100 Ogoni youths, positioning them for opportunities in the competitive global maritime industry.
The beneficiaries, who underwent four months of intensive training at Charkin Maritime Academy, Port Harcourt, received their certificates during a close-out ceremony held on Tuesday, February 10, 2026. The event was attended by top management staff of HYPREP, the HYPREP Project Support Lead and Representative of Renaissance Africa Energy Company Limited, the Executive Director of Training and Strategic Planning of Charkin Maritime Academy, the Head of the Seafaring Department, the Principal Consultant of DCL Consulting Firm, and other dignitaries.
Addressing the graduates, HYPREP Project Coordinator, Prof. Nenibarini Zabbey, described the ceremony as a celebration of hard work, dedication, and the beginning of a new chapter in the lives of the young beneficiaries.
He said the graduation symbolises vision, resilience, and hope — hope translated into skills, certificates, and tangible opportunities for a better future for Ogoni youths.
According to him, the passing-out ceremony marks an important milestone in HYPREP’s mandate to restore livelihoods and promote sustainable development in Ogoniland. He urged the beneficiaries to make productive use of the skills and certifications acquired.
“These skills and achievements should not end here but serve as a springboard for self-reliance, dignity of labour, and long-term economic empowerment for the good of Ogoniland and Nigeria,” he stated.
Prof. Zabbey noted that the seafaring programme is significant not only to the beneficiaries but also to HYPREP’s broader livelihood restoration strategy and the Federal Government’s blue economy agenda.
He explained that by equipping the youths with globally relevant maritime skills, HYPREP is opening alternative income opportunities while discouraging oil theft, artisanal refining, re-pollution, and other environmentally harmful practices. He added that the initiative aligns with the directives of the 2016 HYPREP Establishment Gazette and reinforces the Project’s commitment to implementing the recommendations of the UNEP Report on Ogoniland.
Commending Charkin Maritime Academy as a dependable training partner, Zabbey described the institution as one of the foremost maritime training centres in the country.
“This partnership has delivered high-quality results today, and we intend to expand it as we intensify efforts to provide sustainable alternative livelihoods for the Ogoni people,” he said.
He expressed confidence in Ogoni youths as drivers of unity, peace, and progress, noting their resilience and commitment to peace in the area. He reaffirmed HYPREP’s commitment to supporting the aspirations of youths and women in Ogoniland.
The Project Coordinator likened knowledge and certificates to fuel in a vehicle, stressing that they are meant to propel the graduates toward greater heights.
“We hear your voices calling for restoration, and today, environmental and livelihood restoration are gradually unfolding before your eyes, bringing renewed hope. We continue to lay brick upon brick, building pillars of Ogoni development, as evidenced by the Centre of Excellence for Environmental Restoration (CEER), which is 93 per cent completed,” he added.
He emphasised that HYPREP’s approach integrates all projects and interventions toward achieving environmental sustainability and long-term development in Ogoniland.
Also speaking, the HYPREP Project Support Lead and Representative of Renaissance Africa Energy Company Limited, Engr. Ehioze Igbinomwahia, said the graduates had gained not only technical maritime skills but also discipline, resilience, and confidence to compete globally.
He described their graduation as the beginning of a new journey and noted that the UNEP Report emphasised that environmental restoration must be complemented by sustainable livelihoods, capacity building, and youth empowerment.
“Without empowering people, restoration cannot be complete. Programmes such as this maritime training represent practical steps toward creating employment pathways, dignity, and long-term community stability,” he said.
Engr. Igbinomwahia added that Renaissance Africa Energy Company Limited remains committed to supporting environmental recovery, human capacity development, and sustainable economic opportunities in Ogoniland and the wider Niger Delta.
Highlighting the importance of discipline and safety, he urged the graduates to be ambassadors of professionalism and integrity.
“The sea you are about to enter is vast and sometimes challenging, but it is also full of opportunity. Let discipline guide your actions, let safety remain your constant companion, and let your character speak for you wherever you go,” he advised.
Similarly, the Executive Director of Training and Strategic Planning at Charkin Maritime Academy, Captain Joseph Awodeha, who represented the Chairman, Dr. Charles Wami, emphasised discipline and safety as critical to career success in the maritime sector.
The Head of the Seafaring Department, Captain Jonathan Hammond, urged the graduates to remain humble and disciplined, noting that such virtues are essential for career growth.
In his remarks, the Principal Consultant of DCL Consulting Firm, Barrister Dornu Baridan, commended the beneficiaries for successfully scaling through the
rigorous selection process and completing their training as seafarers.
Nation
Nigerian Society of Engineers Inaugurates 14-Member Executives In Rivers”
The Nigerian Society of Engineers, Port Harcourt Branch, Rivers State, has elected 14 member executives to lead the organization for the 2025/2026 year. Engr. Belema Fubara Ekine, FNSE, is the 23rd chairman.
The inauguration ceremony, held at the Engr. Ishmael A. Branch Secretariat, 3 Benard Carr Street (Waterworks Yard), Port Harcourt, attracted members of the engineering profession from within and outside the state.
Other elected executives include:
Engr. Samuel H. Kwelle, MNSE – Vice Chairman
Engr. Dr. Promise Jumbo, FNSE – General Secretary
Engr. Priye P. K. Lawson, MNSE – Assistant Secretary
Engr. Patrick O. Udegbunam, MNSE – Treasurer.
Others are Engr. Hilda D. Batubo, MNSE – Financial Secretary
Engr. Bowei M. Dauseighe, MNSE – Technical Secretary
Engr. Charles O. Okwakpam, MNSE – Assistant Technical Secretary
Engr. Agnes Komolafe, MNSE – Membership Secretary
Engr. Dike N. Livingstone, MNSE – Publicity Secretary
Also elected are Engr. Ayebaye Daniel Wanatoi, MNSE – Welfare Secretary
Engr. Oribiokpomari I. Comfort, MNSE – Internal Auditor
Engr. Dr. Idaeresoari Harriet Ateke, FNSE – Immediate Past Chairman
Engr Dr Hachimenum Amadi, FNSE (Ex-Officio)
In his a goodwill message, the Secretary to the Rivers State Government, Hon. Frederick Anabraba, urged the new executive to maintain high ethical standards and move the association forward.
In his acceptance speech, the newly elected chairman, Engr. Belema Fubara Ekine, FNSE, promised an inclusive administration and teamwork, focusing on collaboration with stakeholders. He had begun building partnerships with Rivers State University and the University of Port Harcourt.
The highlight was the inauguration lecture, “Engineering Solution for Security, Energy Access and Sustainable Development,” delivered by Engr. Victor Bandele, Deputy Managing Director, Deepwater Assets, TotalEnergies EP Nigeria Limited.
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