Business
LASG Seeks N262bn To Execute Rural Projects
The Lagos State Government on Tuesday said it required not less than N262 billion to provide roads and potable water to residents in rural areas of the state.
The Commissioner for Rural Development, Mr Cornelius Ojelabi, disclosed this in Ikeja at a news conference organised to mark Gov, Babatunde Fashola‘s sixth year in office.
He said N256 billion would be needed to provide road infrastructure in the rural areas, while the provision of potable water will gulp N6 billion.
Ojelabi said the state government would ensure development of rural areas to check rural-urban migration .
He said the continued influx of people to parts of Lagos, including the rural areas, had increased the demand for infrastructure and other needs in the state.
“The challenges we face in our effort at transforming the rural areas are enormous, while resources at our disposal are limited.
“The estimate we have for the provision of bridges, rural roads, jetties and drains alone for this year is more than the state’s budget.”
He urged corporate bodies, donor agencies and philanthropists to assist government in providing amenities in the rural areas.
“Organisations, companies and philanthropists can adopt projects in rural communities as part of their Corporate Social Responsibility and brand them in their names on completion.
“ With this, we can together take Lagos to the next level and make it a model mega city.” Ojelabi said.
“We need the public to come and assist us to provide culverts, mini bridges, and quality roads, to enhance better living conditions for rural people and open up the areas.”
On rural electrification, Ojelabi said about N1 billion had been spent in the last one year, adding that most of the transformers installed had been connected to the national grid.
Ojelabi said the government was repositioning the Neighbourhood Watch, a local security outfit set up by the Ministry to ensure security around the communities.
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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.
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