Business
CNDEN Demands Oil Pipeline Surveillance Contract Dispersal
The Coalition of Niger Delta Ethnic Nationalities (CNDEN), has called on President Bola Tinubu to decentralise the oil pipeline surveillance contracts across different communities hosting the national pipelines.
The group insisted that not decentralising pipeline protection contracts along sphere of influence in the region was likely going to breed another armed struggle as the signs were already evident and would negatively impact on the struggling economy.
In a statement by its officials who represent diverse ethnic nationalities of the region, CNDEN noted that pipeline protection contracts should be given to major stakeholders across the region.
The statement, collectively signed by the President, Ijaw Youth Council (IYC) Worldwide, Dr Alaye Tari; President, Coalition of Isoko Youth Group, Oghenekaro Tony Edor; Emmanuel Goteh Bieh, President, Ogoni Federated Youth, Emmanuel Goteh Bieh; President, Ibom Youth Council, Lord Marmin Knight ;and Chairman, ijaw Youth Council, Eastern Zone, Comrade Ibiso Harry, said “The CNDEN wishes to draw President Bola Ahmed Tinubu’s attention to the growing concerns surrounding the monopolisation of pipeline protection contracts in the Niger Delta by a narrow group of individuals.
“It is important to clarify that no Niger Delta person is calling for the revocation of the pipelines surveillance contract. Instead, all concerned Niger Deltans are advocating decentralisation to ensure accountability, equal representation and fairness for all stakeholders in the region.
“The Niger Delta remains the economic backbone of Nigeria. The daily extraction of crude oil and gas from our lands and waters sustains the national economy and funds government operations across the federation. However, the region’s unique terrain and the recent armed struggle that disrupted oil and gas infrastructure and activities cannot be overlooked.
“All struggle leaders are naturally inclined to control their primary domain. Therefore, it is crucial that we consider these concerns to prevent another phase of armed struggle in the region. All indications suggest that this reality is imminent due to deep-rooted grievances exacerbated by the unprecedented greed of individuals who should have openly discussed this issue with their colleagues and in the spirit of brotherhood.
“Therefore, it will be counterproductive in the near future. It’s unacceptable that the protection of such critical national assets is concentrated in a few individuals while the majority of stakeholders and host communities bearing the environmental and social burden of oil exploration are sidelined.”
The coalition contended that it was wrong for pipeline protection in the region to be the exclusive preserve of a few individuals, saying such an arrangement is unjust, politically insensitive and currently causing resentment among the various ethnic nationalities of the Niger Delta region.
CNDEN insisted that “As representatives of the diverse ethnic nationalities of the Niger Delta, we strongly demand that pipeline protection contracts be decentralised and fairly distributed among credible stakeholders within each Niger Delta state. Every oil-producing state in the region should have the opportunity to participate through recognised stakeholders, community structures and indigenous security networks who understand their terrain and have a direct stake in protecting national assets.
“By decentralising pipeline protection contracts and allowing stakeholders in each Niger Delta state to take responsibility for protecting pipelines within their territories, the federal government will fragment potential high-security risks and achieve several important outcomes.
They coalition listed the benefits to include: “improved grassroots intelligence and surveillance, as local communities understand their environment better than external actors; reduced crude oil theft and pipeline vandalism, as host communities will feel a sense of ownership in protecting the infrastructure; strengthened peace and stability in the Niger Delta by eliminating the perception that the Federal Government favours certain individuals over others; economic empowerment and employment opportunities for thousands of Niger Delta youths, thereby reducing restiveness in the region; greater transparency and accountability in the management of pipeline protection operations.”
According to the body, many respected elders and long-standing stakeholders across the Niger Delta were deeply unhappy with the current arrangement but due to their patriotism , statesmanship and the shared responsibility they feel towards preserving peace in the region, many of them have chosen not to openly express their anger in ways that will undermine peace and national interest unlike before where every possible means necessary could have been deployed to express these grievances.
“But the reality is that the younger leaders and stakeholders are watching closely and the growing frustration over the perceived exclusion of the region’s ethnic nationalities could become a dangerous time bomb waiting to explode if not urgently addressed with fairness and inclusivity.
“ There is obviously a palpable discontent brewing if not attended quickly could lead to something unexpected. The truth is that even those leaders who these greedy contractors like Tantita claims in official quarters that are working with them have openly expressed their displeasure over the disrespectful manner they have been treated.
“Most of them are just doing the little they because they don’t want conflict and better still allow strangers to infiltrate their environment which definitely would lead to crisis
“We believe it is important to clearly state that this situation is not the fault of President Bola Ahmed Tinubu. From all indications, the current lopsided arrangement appears to have been influenced by the selfish decisions and narrow interests of the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, working in collaboration with a few greedy individuals from the Niger Delta who have chosen personal enrichment over the collective interest of the region.
“The Coalition believes that the President may not have been fully briefed on the implications of concentrating such sensitive contracts in the hands of a few individuals while excluding the broader ethnic nationalities and host communities whose lands host the pipelines,” the insisted.
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NEM Insurance Plc – the number one motor insurance provider in Nigeria, in a vibrant commemoration of the 2026 International Women’s Day (IWD), has reaffirmed its dedication to fostering an inclusive environment that empowers women to excel in their endeavours.
Speaking at the corporate headquarters in Lagos, the Chairman of NEM Insurance Plc, Tope Smart, stated that the company remains resolute in its mission to support women affairs, noting that their contributions are vital to the sustainability of the insurance industry.
Aligning with the global theme “Give To Gain,” Smart highlighted that the insurance provider views gender diversity not just as a corporate social responsibility, but as a core driver of innovation and high-level performance.
“Our commitment to female professionals at NEM Insurance is unwavering,” Smart declared. “We recognize that by ‘giving’ women the right tools, mentorship, and leadership platforms, the industry ‘gains’ unparalleled dedication and diverse perspectives that move the needle of progress.”
The multiple award winning underwriting company and one of the top three leading general insurance business companies in Nigeria, has remained focused in promoting and supporting women affairs.
Adding her voice to the celebration, the General Manager, Corporate Services, Mrs. Mojisola Teluwo, emphasized that the company’s gender-focused initiatives, such as the “She Means Business” contest, represent a practical approach to inspiring inclusion.
Mrs. Teluwo maintained that supporting women-led initiatives is a strategic investment in the fabric of society, rather than just a philanthropic gesture.
“At NEM Insurance, we believe that when a woman thrives, a family thrives, and the nation prospers,” Mrs. Teluwo stated. “The ‘She Means Business’ initiative is our way of moving beyond mere applause for women toward active, tangible support. We are proud to provide the financial catalyst needed for visionary women to turn their business aspirations into reality.”
To mark the occasion, the leadership outlined several key pillars of support:
Leadership Development: Targeted training programs to prepare more women for executive-level decision-making.
Inclusive Work Culture: Sustaining a workplace environment that balances professional growth with personal well-being.
Economic Catalyst: Providing grants and professional frameworks to help female entrepreneurs upscale their operations.
The event featured a series of internal sessions where female staff engaged in mentorship dialogues, focusing on career advancement within the evolving landscape of the Nigerian insurance sector and paint and Sip, which provided an opportunity for women to showcase their creativity.
Smart concluded by urging other industry stakeholders to prioritize the development of female talent, asserting that a more inclusive sector is a more prosperous one for all Nigerians.
Trading on the Nigerian Exchange (NGX) closed slightly lower on Wednesday as profit-taking in selected equities continued to weigh on the market, dragging key performance indicators into negative territory.
Market data showed that the benchmark All-Share Index (ASI) declined by 0.09 per cent to close at 195,898.53 points, compared with the previous session’s level, as investors booked profits in some large and mid-cap stocks.
Consequently, market capitalisation shed N107.57 billion, settling at N125.75 trillion. Despite the marginal decline, the market still maintained positive returns, with the month-to-date gain standing at 1.6 per cent, while the year-to-date return moderated to 25.89 per cent.
The downturn was largely driven by losses recorded in stocks such as Presco Plc and UAC of Nigeria Plc, both of which declined by 10 per cent, alongside Dangote Cement Plc, which slipped by 0.6 per cent.
Market breadth closed negative, reflecting bearish investor sentiment, as 40 stocks recorded losses compared with 29 gainers, translating to a market breadth ratio of 0.7 times.
Among the top gainers were NGX Group Plc and Premier Paints Plc, which appreciated by 10 per cent and 9.9 per cent respectively. Other notable gainers included Omatek Ventures Plc, Prestige Assurance Plc and HMC Allied Plc.
On the losers’ chart, Presco Plc and UAC of Nigeria Plc led the decline with 10 per cent losses each, followed by Morison Industries Plc, LivingTrust Mortgage Bank Plc and SCOA Nigeria Plc.
Sectoral performance was mixed, with the Industrial Goods index leading the gainers after advancing by 1.42 per cent, while the Banking index recorded a marginal gain of 0.04 per cent.
Conversely, the Commodities sector topped the laggards, declining by 1.30 per cent. The Insurance index fell by 0.44 per cent, the Consumer Goods index dipped by 0.43 per cent, while the Oil and Gas index edged down by 0.06 per cent.
Activity level on the exchange weakened as investors traded a total of 671.27 million shares valued at N26.13 billion in 58,792 deals.
This represents a decline of 8.61 per cent in volume, 5.18 per cent in value and 9.31 per cent in the number of transactions compared with the previous trading session.
Wema Bank Plc emerged as the most actively traded stock by volume and value, accounting for 106.36 million shares worth N2.75 billion.
Analysts said the cautious mood in the market reflects continued portfolio rebalancing by investors following the strong rally recorded earlier in the year.
They noted that trading may remain mixed in the near term as investors react to corporate earnings releases and macroeconomic development.
Wema Bank has admitted 10 Nigerian startups into the 2026 edition of its Hackaholics Accelerator Programme as part of efforts to strengthen innovation, entrepreneurship, and sustainable business growth in the country.
The 10 cohort selected startups for the 2026 edition such as; Farmslate, Ploy, Stocmed, Feest , Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo were drawn from the top performing finalists of Hackaholics 6.0.
The Hackaholics Accelerator, a selective growth programme under the bank’s Hackaholics platform, is designed to help promising startups reinforce their business foundations while preparing them for scalable growth and investment readiness.
Wema Bank said the programme represents a strategic expansion of its support for innovators, moving beyond ideation and competition to hands-on startup development after six years of driving innovation through the Hackaholics initiative.
According to Wema bank, the accelerator provides founders with structured mentorship, industry guidance and access to networks required to transform innovative ideas into viable and scalable businesses.
Speaking at the programme, Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the accelerator demonstrates the bank’s commitment to supporting founders beyond the early stages of innovation.
He noted that Hackaholics has evolved from a competition into a platform that showcases Nigeria’s entrepreneurial potential and technological creativity. Where he explain that the second edition of the accelerator focuses on helping founders transition from ideation to building sustainable business capable of long trem projects .
“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,”Oseni said.
Oseni stressed that the startups selected are representing some of the most promising solutions emerging from the Hackaholics ecosystem, and the back remain committed to helping them refine their business models, strengthen their operational foundations, and scale their impact.
Also speaking at the program , Wema Bank’s Chief Transformation Officer,Mr. Babatunde Mumuni, said the accelerator would guide founders through a structured process aimed at strengthening their operations and positioning them for sustainable growth.
As part of the programme, startups founders will participate in intensive training sessions facilitated by industry experts across key areas of business growth. Facilitators include Wema Bank executives such as Chief Transformation Officer, Babatunde Mumuni; Head of Strategy and Investor Relations, Femi Akinfolarin; Head of Data Transformation, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Oluwatoyin Adetunji. While External facilitators include Managing Director of Impact Hub Lagos, Idowu Akinde; Managing Director of B4B Partners, Napa Onwusa; startup advisor and scout, Onaopemipo Dara; Google for Startups mentor, Rosemond Phil-Othihiwa; Head of Growth at Africhange, Tega Ogigirigi; and startup advisor and mentor, Ademola Adewuyi.
The Hackaholics Accelerator is also supported by Wema Bank’s broader innovation ecosystem, including IDEAx Labs, the bank’s innovation and venture platform, and its corporate venture programme focused on enabling startup growth through partnerships, infrastructure and access to capital.
Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth innovation platforms, attracting more than 15,000 applicants and supporting hundreds of digital solutions across multiple sectors.
Through the initiative, Wema Bank said it has disbursed more than $400,000 in funding to young innovators and startup founders nationwide.
Previous participants such as Feegor, Myitura and Bunce have emerged from earlier editions of the programme, highlighting the accelerator’s focus on nurturing growth-ready companies. Meanwhile the 2026 edition builds on this progress by supporting startups as they transition from innovation to sustainable business growth.
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