Business
Minister Charges NIIT On Transportation Advancement Strategies
Minister of Transportation, Mu’azu Jaji Sambo, has called on the Nigeria Institute of Transportation Technology (NITT) to devise strategies to advance the transportation sector.
Sambo, who made the call during a familiarization visit to the institute recently, said the strategies would increase NITT’s standard, particularly as there are upcoming Transport Schools in Nigeria.
According to him, “NITT should also upgrade its curriculum according to global best practice and affiliate with various research institutions, thereby increasing the knowledge base of its lecturers and beneficiaries.
“This is necessary to place the Institute on a high pedestal as a training hub in Nigeria, Africa and the World at large.” he said.
Sambo, who commended the leadership of NITT for the rapid Infrastructural development of the Institute, said he was delighted to be physically present to inspect, familiarise and have a firsthand knowledge of the projects and milestone achievements of the Institute.
“This unique transformation will surely open doors for more patronage,” he added.
Sambo noted that NITT was established in March 14, 1986 to solve the problems of Capacity gap in the Transportation Sector, and, in line with its mission, has over the years rolled out competent Transport Professionals in all modes of Transportation, to bridge the Capacity gap in the Sector.
“I am particularly impressed that in a bid to align with the current trends in Transportation, NITT has taken steps to affiliate with other research institutions in the world.
“In the same vein, I am pleased with the expanded programmes and upgraded curriculum of the School to global standards.
“I am particularly delighted with the Transport Technology Centre (TTC), equipped with world class equipment and tools that are designed to enable the Institute fulfill its mandate of ensuring effective and efficient transport operation and management.
“The completion of the Intelligent Transport System (ITS) Centre will also be a major feat for the Institute and the Nigerian Transportation Sector as a whole,” he said,
He further explained that the present Administration of President Muhammadu Buhari has made transportation one of its topmost priorities and has invested considerably in the sector in the last seven years of this Administration.
He, however, admitted that a lot still needs to be done to advance the Transportation Sector to enable Nigeria overcome the deficit in the sector.
“While appreciating the contributions and achievement recorded so far by the Management of Nigeria Institute of Transport Technology in training, research and huge investment on infrastructures, there is still need for the research Institute to do a lot more by providing a leading role in putting Nigeria’s Transport sector in its rightful place in the global space.
By: Nkpemenyie Mcdominic, Lagos
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
