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Agbo Francis, Olawale Peace, Others Shine At 4th Cycling Lagos
Balogun Abdulazeez, Male Professional Sliver Medal Winner; Agbo Francis, Gold Medal Winner; Ibrahim Asiru, Bronze Medal Winner and Temilade Oluokun, Marketing Operations Officer, Samsung during the 4th Cycling Lagos held on Saturday June 28, 2025 at the National Stadium, Surulere, Lagos.
Oyewole Kate, Female Professional Sliver Medal Winner; Olawale Peace, Gold Medal Winner and Azeez Medinate, Bronze Medal Winner during the 4th Cycling Lagos held on Saturday June 28, 2025 at the National Stadium, Surulere, Lagos.
The National Stadium in Surulere, Lagos, came alive on Saturday as cyclists from all corners of the country gathered in full force for the thrilling 4th edition of Cycling Lagos event.
Agbo Francis, a professional cyclist from Ogun State who placed second in 2024, clinched the gold medal in the male professional category. Balogun Abdulazeez from Lagos State took the silver, while the bronze went to the promising young athlete Ibrahim Asiru, also from Lagos.
In the female professional category, Olawale Peace from Oyo State—last year’s Amateur Race gold medalist—won gold again, this time in the professional class. Oyewole Kate, a young cyclist from Lagos who came third in 2024, moved up to claim silver, while Azeez Medinate from Oyo State secured the bronze medal.
Young cyclists also had their moment in the spotlight. In the Under-15 male category, Akinola Desting from Oyo State won gold, Goodluck Emmanuel from Osun State took silver, and Hamzat Keyinde, also from Oyo, claimed bronze.
For the Under-15 female category, Oyo State athletes dominated the podium: Azeez Hazanat won gold, Aminu Olamide took silver, and Odebiyi Iqnat earned bronze.
In the Under-10 male category, Amoo Malik from Ogun State came first, winning gold. Ridiwan Fuwad from Oyo State placed second for silver, and Bello Adams finished third with bronze.
The Under-10 female race saw Aminu Olamikposi from Oyo State take gold, followed by Azeez Amira with silver, and Abidoye Ayomide with bronze—both also from Oyo State.
Speaking at the event, the Convener of Cycling Lagos and Managing Director of BrandEscort Communications, Bamidele Adeleye, congratulated all participants.
“Let me specially congratulate all our winners for this year’s Cycling Lagos event. For those who didn’t win a medal, I still celebrate you. Your participation matters, and with more effort on the pedals, you might just be our champion in 2026,” he said.
Adeleye also expressed excitement over the visible progress of several athletes: “Agbo Francis, who came second last year, is now our gold medalist. Similarly, Olawale Peace has moved from winning in the amateur category to becoming a professional champion. This is the kind of growth we love to see.”
He called on both state and federal governments to invest more in sports development. “Sports is a global business that creates jobs and opportunities. Nigeria is blessed with millions of talented youths. With just a little support, they can shine on the world stage. But government must provide the right environment and backing to make this happen.”
“At Cycling Lagos, we remain committed to identifying, encouraging, and showcasing young Nigerian cyclists who are passionate about excelling in sports,” he added.
Cycling Lagos is an annual event designed to promote healthy living and a cycling culture among enthusiasts, corporate executives, and the wider public across Nigeria.
Themed “Sustainability Energy,” the 2025 edition was proudly sponsored by Samsung, with support from Nestlé Nigeria Plc, Mountains Energy Solution, Cway, Peak Yoghurt, Leadway Assurance, DStv, and the Lagos State Cycling Association.
NLNG Commissions Medical Laboratory Complex In Bauchi
By Winifred Bosa
NLNG, recently commissioned a state-of-the-art modern laboratory complex at Abubakar Tafawa Balewa University Teaching Hospital (ATBUTH), reaffirming its commitment to improving access to quality healthcare across the country.
The milestone is part of the company’s flagship Hospital Support Programme (HSP), an ongoing initiative aimed at improving Nigeria’s medical infrastructure and enhancing healthcare delivery nationwide.The commissioning is coming after a recent opening of a neonatal ward and intensive care unit at the Federal Medical Centre (FMC), Asaba by the Company.
The new facility, the tenth in the list of completed projects, is outfitted with advanced diagnostic technology, significantly boosting the hospital’s capacity for accurate and timely diagnosis.
The laboratory complex harbours an Automated Tissue Processing Machine, Cryostat, Immunoassay Analyser, ELISA Washer, haematology systems, vein finders, and specialised microscopes.
The facility also features purpose-built workspaces for sample preparation and storage, solar-powered electrical systems for uninterrupted operations, automated access controls, and modern reception and waiting areas, all designed for safety, efficiency, and comfort.
Speaking at the commissioning ceremony, Philip Mshelbila, Managing Director and Chief Executive Officer of NLNG, represented by Sophia Horsfall, General Manager, External Relations and Sustainable Development, emphasised that the Hospital Support Programme offered Bauchi State a vital partnership and gave NLNG the opportunity to actualise its vision of improving lives sustainably through the provision of healthcare infrastructure.
He noted that the programme reinforces NLNG’s belief in what is possible when private enterprise and public good align with purpose.
He stressed that the project was informed by a detailed needs assessment, resulting in a facility that would significantly enhance diagnostic capacity and provide better support to both clinicians and patients.
He stressed that the project was informed by a detailed needs assessment, resulting in a facility that would significantly enhance diagnostic capacity and provide better support to both clinicians and patients.
Mshelbila further remarked that NLNG was building a network of care across the country through HSP. He noted that the HSP has transformed medical services in all the beneficiary institutions, boosting the confidence of medical practitioners and raising public hope for improved healthcare.
Highlighting the pressing need for advanced diagnostic capabilities in Nigeria, especially in light of rising incidences of Lassa fever, antibiotic resistance, and cancer, Professor Yusuf Bara Jibrin, Chief Medical Director of ATBUTH, emphasised that the laboratory stands as “a fortress of response, equipped with the tools, technologies, and manpower to detect, analyse, and inform timely medical interventions.”
The CMD lauded NLNG for going beyond the bounds of corporate social responsibility, adding that ATBUTH had instituted a maintenance and operations framework to ensure the facility’s long-term sustainability.
The HSP has impacted ten health institutions across Nigeria, providing healthcare infrastructure for obstetrics, neonatal intensive care, occupational therapy, and neuromodulation rehabilitation, among others.
NLNG remains at the forefront of private sector contributions to healthcare delivery in Nigeria, investing not just in energy, but also in education, healthcare, and infrastructure.
Corridors To Trade Can Support Nigeria’s Protein Needs
By Fidelia Okafor
The U.S. Soybean Export Council hosted its signature “Nigeria: NOW” conference in Lagos this week, bringing together stakeholders across the government and private sectors, including poultry producers, nutritionists and more.
Participants dove into discussions about addressing Nigeria’s protein gap, trade and economic growth.
Speaking at the event, Acting U.S. Consul General, Lagos, Nigeria, JoEllen Gorg emphasized, “The U.S. Soybean Export Council’s Nigeria: NOW conference marks a pivotal milestone in creating a pathway for mutual prosperity and shared economic success. By addressing Nigeria’s protein gap, fostering innovation, and promoting best practices, the U.S. Soy industry is helping to build a resilient agricultural sector in Nigeria, ensuring long-term food security and economic stability.”
She added, “We are enthusiastic about the opportunities arising from the collaboration between USSEC and the U.S. Mission in Nigeria. This partnership is crucial in helping export-ready U.S. companies build business relationships with Nigerian agribusinesses, training Nigerians in new agricultural practices, and promoting the use of U.S. soy in Nigeria’s feed and food industries.”
Participation by high-level Nigerian stakeholders, including former President, Chief Olusegun Obasanjo, Grand Commander of the Order of the Federal Republic; Engr. Seyi Makinde, Executive Governor of Oyo State; and Abisola Olusanya, Honorable Commissioner for Agriculture & Food System, Lagos State, emphasized the opportunity for greater collaboration between U.S. Soy and Nigeria.
With a population of over 236 million and growing, Nigeria’s protein consumption per capita remains low at only 45.4 grams per person per day compared to the FAO’s minimum recommended intake of 60 grams. The global average is around 64 grams. While Nigeria grows soybeans domestically, demand significantly outpaces supply. The USDA Foreign Agricultural Service estimated Nigeria’s local production at around 1.15 million metric tons for the marketing year (MY) 2023/24, with the animal feed sector accounting for the majority of its use.
As a result of the demand-supply mismatch this year, Nigeria imported 62,100 metric tons of soybeans from the U.S. after a pause of six years. This renewed access offers a promising opportunity for deeper collaboration between U.S. Soy and Nigeria.
“Trade is vital to the global economy and, more importantly, to local economies,” added Jim Sutter, USSEC CEO. “U.S. Soy is at the forefront of collaborating with its partners as a reliable supplier.”
Robert Alpers, a generational U.S. Soy farmer and United Soybean Director, echoed this, “I’m proud to be playing my role in helping to feed the world sustainably. As U.S. Soy farmers, we are committed to ensuring we produce more using fewer resources and reducing our environmental footprint.”
By strengthening relationships, building trust, and leveraging comparative advantage, Nigeria and U.S. Soy can achieve mutually beneficial economic growth and a protein-secure future.
4th Cycling Lagos Grand Finale Holds Tomorrow
By Winifred Bosa
Organisers of the highly anticipated 4th edition of Cycling Lagos have confirmed that the grand finale of the event will take place tomorrow, Saturday, June 28, 2025.
In a statement released on Friday, the organisers announced that the event will feature celebrity, children, and professional races, promising an exciting day of competition and entertainment.
Speaking in Lagos, Bamidele Adeleye, Managing Director of BrandEscort Communications and Convener of the event, assured the public of an even bigger and better experience this year.
“The 2025 Cycling Lagos event will hold tomorrow, Saturday, June 28, at the Teslim Balogun Stadium, Surulere, with activities kicking off by 7:00 a.m.,” he said.
This year’s edition, themed Sustainability Energy, is proudly sponsored by Samsung, with support from Nestlé Nigeria Plc, Mountains Energy Solution, Cway, Peak Yoghurt, Leadway Assurance, DStv, the Lagos State Sports Commission, and the Lagos State Cycling Association.
Cycling Lagos is an annual event that attracts participants from across the country, aimed at promoting a healthy lifestyle and fostering unity through sport.
Stakeholders Anticipate 7th Africa Procurement And Supply Chain Summit & Awards 2025 In Lagos
By Winifred Bosa
There is a fever pitch of anticipation in preparation for the 7th edition of the Africa Procurement and Supply Chain Summit & Awards in Lagos scheduled to take place from July 3–4, 2025.
The industry event organised by InstinctWave will take place at the prestigious Oriental Hotel, Victoria Island, Lagos, Nigeria.
The event themed “Driving Impact through Innovation: The Future of Procurement & Supply in Africa,” will bring together senior executives, policymakers, and thought leaders from across the continent to Lagos.
The summit will delve into transformative trends including sustainable procurement, digital transformation, and the integration of Artificial Intelligence (AI) and Machine Learning (ML) in supply chain operations.
The event is aimed to provide a platform for participants to benchmark strategies, exchange ideas, and explore ways to thrive amid today’s uncertain and evolving market landscape. Key topics will include local content development, e-procurement, sustainability, and the advancement of procurement excellence across Africa.
A stellar lineup of distinguished speakers that will enrich the summit’s dialogue, including: Dr. Adebowale Adedokun, DG, Bureau of Public Procurement (BPP), Dr. Clever Ruswa – CEO, Procurement Regulatory Authority, Zimbabwe, Godwin Kudzo Tameklo Esq – CEO, National Petroleum Authority (NPA), Ghana, Barr.Joshua Sunday Ehimoni Esq, DG, Bureau of Public Procurement, Niger State, Akin Naphtal, Group CEO, InstinctWave Group, Dr. John Ngeno – General Manager, Supply Chain & Logistics, Kenya Power, Mr. Simon Annan – President, Ghana Institute of Procurement and Supply (GIPS), Fatai Idowu Onafowote – Director General, Lagos State Public Procurement Agency, Akparawa Emem Kanico KCPP. National President, Association of Public Procurement Practitioners of Nigeria, Adeola Oduntan – GM, Global Sourcing & Supply Chain Management, MTN and Cephas Afebuameh – Group Director, Supply Chain, Flour Mills of Nigeria Plc.
Other speakers are Amb. Prof Robert Tay, Procurement Director, Driver and Vehicle Licensing Authority, DVLA, Mr. QS Raheem Abdulbaki – CEO, Kwara State Public Procurement Agency, Edwin Muhumuza – Head of Africa, Open Contracting Partnership, Adejoke Atte, Head of Procurement, Nigerian Communications Commission, Gloria Nyanteh – Procurement Head, National Petroleum Authority (NPA), Ghana, Jacob Forst – AFRI Associate, International GOPA, Misan Ilesanmi, Head Supply Chain Capability Development, Coca-Cola HBC, Rauf Badejo, Group Chief Supply Chain Officer, GZ Industries, Nkechi Esechie , Business Procurement Mgr – Sub-Sahara, Pladis Foods Nigeria, Beauty Emeneu (CSCP), Head of Procurement, Guinness Nigeria, Obinna Nwodo, Founder, YSCP Nigeria, Rodney Boatey, Managing Director, Excelsior Global Limited and Nii Obodai Doku, Managing Director, Procura Global Sourcing.
Now in its 7th year, the summit will conclude with a Gala Awards Night, recognizing outstanding achievements in procurement and supply chain management. The awards will honor exemplary leadership, innovation, ethical standards, and organizational growth driven by procurement excellence.
In a press statement made available to the media, Mr. Akin Naphtal, Group CEO of InstinctWave, organizers of the summit, emphasized the evolving importance of the procurement function:
“Procurement and supply chain functions are not just support roles—they are strategic assets that drive organizational success. We aim to shift the perception of the profession by recognizing and rewarding exceptional talent, innovation, and best practices.”
Mr Naphtal further noted that the summit will showcase how African enterprises can harness these innovations to overcome obstacles such as infrastructure limitations and regulatory challenges.
“The 7th Africa Procurement and Supply Chain Summit will explore how innovation is transforming procurement and supply chain management throughout Africa,” he said
He added, “This summit will demonstrate how African businesses can leverage these innovative approaches to address critical challenges, such as infrastructure gaps and regulatory complexities. We are committed to fostering collaboration between public and private sectors to deliver impactful solutions tailored to Africa’s unique needs, driving significant progress across the region.”
The summit, supported by industry leaders including Ghana’s National Petroleum Authority, Volta River Authority, and, will bring together professionals to exchange strategies and address the evolving demands of Africa’s procurement and supply chain landscape.
Over 40 Partners Align With UN And Sterling One Foundation For Africa’s Policy Reset
By Winifred Bosa
Ahead of the Africa Social Impact Summit (ASIS) 2025, scheduled for July 10 and 11 in Lagos, co-conveners Sterling One Foundation and the United Nations in Nigeria held a high-level press briefing at the United Nations House in Abuja.
The event brought together development partners, policymakers, and the media to outline expectations for the upcoming summit and reflect on Africa’s role in defining local responses to global challenges.
Since its launch in 2022, ASIS has grown into a key platform for regional development collaboration. From eight founding partners, the summit now brings together over 40 institutions working across climate, healthcare, education, finance, governance, and digital inclusion. This expansion points to a growing shift: African institutions are pushing to set the agenda, not wait to be handed one.
The 2025 summit, themed “Scaling Action for the SDGs: Bold Solutions for Climate Resilience and Policy Innovation,”will focus on strengthening sub-national development, rethinking finance flows, and tackling structural inequalities through long-term investment and reform.
Speaking at the press briefing, Mohamed M. Malick Fall, Assistant Secretary-General and United Nations Resident and Humanitarian Coordinator in Nigeria, reinforced the urgency of this year’s convening.
“The climate crisis is eroding decades of development across Africa, displacing communities, disrupting education and health systems, and undermining economic stability. But lasting solutions must come from those living the impact daily. As co-conveners of the summit, and with this year’s theme Scaling Action: Bold Solutions for Climate Resilience and Policy Innovation, ASIS offers a platform for African institutions to lead and for global partners to respond with investment, policy reform, and serious commitment.”
In a presentation on the summit’s evolving impact, Olapeju Ibekwe, CEO, Sterling One Foundation, reflected on the summit’s trajectory:
“ASIS has never been about convening for its own sake. Each summit marks a deliberate step to mobilize capital, shift policy, and advance African-led solutions. Already, we have seen over 100 million dollars unlocked through coalition efforts. That scale is not accidental. It is the product of systems thinking, partnership, and a commitment to putting Africa’s priorities at the center of global development conversations.”
In his remarks, Abubakar Suleiman, MD/CEO, Sterling Bank, emphasized the private sector’s enduring role in the ASIS journey:b“Sterling Bank has been a strategic partner to ASIS from the very beginning. As global development funding becomes more constrained, it is increasingly clear that the private sector must help drive scalable solutions. Our engagement with ASIS reflects a belief that impact is not a side effort but core to building resilient economies and inclusive growth.”
Other partners in the room echoed the need for bold, cross-sector investment in areas such as health systems, youth employment, education access, and digital infrastructure. ASIS boasts a coalition of over 40 institutions that includes Afreximbank, Coca-Cola, United Nations Global Compact Network Nigeria, Sterling Bank, and other theme and technical partners, with Lagos State as the host city.
Interested participants are encouraged to register at theimpactsummit.org.
About the Co-Conveners
Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria, and Africa through interventions and social impact programmes across three critical sectors namely: health, education and climate action & food security. Gender Equality and women empowerment are integrated as a cross cutting priority across all our programming areas. The Foundation’s programmes adopt a central theme of prioritizing partnerships for the achievement
Dangote Is The Pride Of Nigeria’s Financial Market, Says NGX Group Chairman
The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has praised the President/Chief Executive, Dangote Group, Aliko Dangote for his substantial contributions to the Nigerian capital market and private sector development.
He noted this during a courtesy visit to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited by capital market stakeholders.
Kwairanga, who called for the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the NGX, stated that it would represent a natural progression in the Dangote Group’s journey towards transparency, market leadership, and inclusive wealth creation.
Noting that the Nigerian capital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petroleum Refinery on the Nigerian economy, stressing that the various initiatives introduced have provided much-needed relief to Nigerians.
Kwairanga recalled Dangote’s tenure as President of the Council of the Nigerian Stock Exchange, describing him as a visionary whose leadership shaped the capital market landscape.
“Through the listing of companies such as Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc, the Group has significantly deepened market liquidity, boosted investor confidence, and driven long-term value creation for shareholders,” he stated.
The Chairman emphasised that the visit was more than a tour; it was a reaffirmation of the NGX’s commitment to aligning investment capital with national development goals.
The President/ Chief Executive of the Dangote Group, Aliko Dangote, reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolutionising the capital market.
He assured shareholders that those investing in Dangote Fertiliser Limited would not need to worry about the value of the local currency, as the company operates within a dollarised business framework.
“So, what are we aiming to do to bring about a major revolution in the capital market? The main challenge is that many investors are hesitant, thinking, ‘If I invest my naira now, by the time I receive dividends in ten years, the naira will have lost value.’ However, we are entering the market with a dollarised business model,” he explained.
Dangote further disclosed that the company is working on expanding its fertiliser plants to boost revenue, with a target dividend payment to shareholders exceeding $3 billion.
“In the next 40 months, our fertiliser business should generate $20 million in revenue per day. We are pushing hard. We expect to reach over $70 billion in revenue and possibly pay dividends of $3–4 billion. Our philosophy is to always think big,” he said.
He added that the Group is also strengthening its cement business by investing in new plants and targeting clinker exports to West African countries, which will boost revenue and provide better dividends for shareholders.
Praising the recent progress of the NGX, Dangote stressed that Nigeria needs companies like Reliance Industries Limited, which once held its Annual General Meetings in a stadium. Such companies, he noted, would stimulate the economy and encourage wealth distribution.
Emphasising that Nigeria cannot attain its $1 trillion economy target without a vibrant stock exchange, Dangote affirmed his continued engagement and support for the NGX, acknowledging its crucial role.
The Vice President of Oil & Gas at Dangote Group, Edwin Devakumar, who led the delegation on a tour of the facilities, described the construction of the 650,000-barrel-per-day refinery as a monumental achievement that demanded immense courage, vision, and determination. He noted that the Group acted as its own Engineering, Procurement, and Construction (EPC) contractor for the refinery—a feat never before attempted at this scale.
He also stressed that the refinery has ensured Nigeria is no longer reliant on imports to meet its petroleum needs and is now exporting refined products to various continents worldwide.
Also present were the CEO of NGX, Temi Popoola; Managing Director/CEO of Central Securities Clearing System Plc (CSCS), Haruna Jalo-Waziri; CIS President, Oluropo Dada; ASHON Chairman, Sam Onukwe; CEO of NGX Regulation, Olufemi Shobanjo; CEO of Lagos Commodity Exchange, Akeredolu Ali; and other major stakeholders.
Fidelity Bank Hits N1trn Market Cap After Share Price Increase
By Amaka Obiefuna
The Cable NG reports that the market capitalisation of Fidelity Bank has crossed the N1 trillion mark as the share value of the company appreciated by 1.27 percent at the close of trading.
According data from the Nigerian Exchange Group (NGX), the bank’s market capitalisation hit N1 trillion after its share price rose from N19.75 on Tuesday to N20 on Wednesday.
The increase moved the company’s valuation from N991.6 billion to N1 trillion.
With the development, Fidelity Bank joins the list of financial institutions with a market capitalisation of over N1 trillion.
The companies are Zenith Bank, Access Bank, United Bank of Africa (UBA), Guaranty Trust Bank (GTB), and First Bank.
On May 21, Nneka Onyeali-Ikpe, the managing director (MD) and chief executive officer (CEO) of Fidelity Bank, acquired an additional 18 million shares in the bank.
Two days later, Onyeali-Ikpe bought additional 2 million units of shares in the bank.
According to a regulatory filing on the NGX, the shares were acquired on May 22, at N18.6 each — amounting to a total value of N37.2 million.
The acquisitions increased her shareholding in the bank to 114.64 million shares — from 94.64 million held as at December 31, 2024.
In its latest financial performance report, Fidelity Bank said it reported a 167.8 percent year-on-year increase in profit before tax (PBT), which increased to N105.8 billion in the first quarter (Q1) of 2025.
Prof. Bart Nnaji To Chair 2025 Oriental News Nigeria Summit
By Amaka Obiefuna
As Nigeria continues to promote energy efficiency with natural gas as key driver to achieve her energy transition goals, key stakeholders in the sector would be discussing prospects of the country’s huge gas resources in actualizing set targets.
Other key agencies of government have also signified their acceptance to participate in the 2025 Oriental News Nigeria national conference where the Nigerian Liquified Natural Gas Limited (NLNG) as keynote speaker at the conference would highlight benefits of gas as the country’s transition energy source.
The conference will be chaired by former Power Minister and chairman of the indigenous power company, Geometric Power Limited (GPL).
STANMEG Communications, publishers of Oriental News Nigeria Online, one of Nigeria’s most influential Online platforms confirms NLNG as keynote speaker at its 2025 National Conference on Sustaining Gas Utilization Towards Achieving Nigeria’s Energy Security.
The main Theme of the conference is “Integrating Nigeria’s Gas Potentials Into Strategic Energy Transition Initiatives”
The conference is also focusing on key Sub Themes, which include
…..Enhancing Energy Security And Efficiency Through Effective Gas Utilization
……Evaluating Regulatory Frameworks for Sustainable CNG Adoption in Nigeria’s Transportation Industry
………. Building Local Content Synergy’ between the Insurance Industry and Oil and Gas Sector.
The event holds on 24th July, 2025 at Radisson Blu, GRA Ikeja Lagos at 9am.
Meeting Nigeria’s domestic energy needs remains one of the most significant challenges to sustainable development and economic growth. Only half of Nigeria’s 200 million citizens currently have access to energy, and with the population set to double by 2050 universal access is a huge challenge.
Nigeria has proposed to ramp up gas production, utilization and export, with the aims of supporting industrialization, boosting domestic energy supply (for power, cooking and transport), and increasing government revenues.
Whether ramping up gas utilization is feasible, or indeed the appropriate approach to achieving Nigeria’s energy supply and economic ambitions, is uncertain.
Every year Oriental News Nigeria, undoubtedly one of Nigeria’s most influential and reliable news channels brings stakeholders together to discuss pivotal topics around the economy.
Being the 4th in the series, the 2025 Oriental News Nigeria conference is bringing key industry figures, experts and policy analysts to evaluate various aspects of natural gas initiatives put together to drive the national economy.
Government is quite aware that what is certain is that global pressure to transition away to cleaner energies and defund fossil fuel projects complicates the process of realizing that goal and could lead to wasted investments that jeopardize the economic and energy security of Nigerians in the future.
But weak legal and regulatory frameworks, big infrastructure gaps, a non-cost-reflective pricing regime and host community conflicts have made the domestic gas sector uncompetitive and unattractive to investors. This, in turn, has left gas reserves underexploited, especially more expensive non-associated gas which represents half of Nigeria’s reserves.
Implementation of reforms by successive governments through the 2008 Gas Master Plan the (GMP), the 2017 National Gas Policy (NGP) and other instruments have proven slow. With the passage of the Petroleum Industry Act 2021, the legal, fiscal and regulatory framework of the gas sector has been strengthened with the creation of dedicated regulators, a dedicated minister, provision of third party access to infrastructure, and other improvements. But many gaps remain.
Thus the Decade of Gas Policy launched in 2021 to address the limitations to achieving domestic gas-based industrialization and economic prosperity, and reduce energy poverty, faces greater challenges.
Also, as a response to the high cost of petrol and the attendant rise in the cost of transportation, following the removal of fuel subsidy, President Bola Tinubu launched the Presidential CNG Initiative to provide a cheaper and cleaner energy source for Nigerians.
It is based on the above initiatives and pace setting policies that we have developed a theme and sub-themes to examine and evaluate those policies by key government agencies, including key stakeholders in the industry.
Apart from examining the role of gas initiatives boosting power sector growth, the sub-themes is evaluating the Compressed Natural Gas (CNG) as preferred fuel for the transport industry.
Road transport is the dominant mode of transportation in Nigeria, moving over 90% of internal goods and passengers across the country; hence it is the highest contributor to the nation’s GDP amongst other sub-sectors.
However, from all we could glean, road transport is predominant in the Nigerian transport sector. This entails an excessive use of internal combustion engine vehicles (ICEs), hence, an immense contribution to CO2 emission through the combustion of petroleum-based products like PMS, AGO and ATK; relatively small amounts of methane (CH4) and nitrous oxide (N2O) are emitted during fuel combustion, though.
The National Automotive Design and Development Council (NADDC) has revealed that Nigeria boasts of an estimated 11 million vehicles traversing its roads.
Globally, the transport sector is a major source of CO2 pollution in the atmosphere, with a global contribution of about 7.3 billion metric tons of carbon dioxide emission in 2020. About 20% of the global CO2 emission is contributed by Surface transport.
We reviewed the various sub-sectors of the Nigerian transport sector with their corresponding energy consumption rates. Results show that all the sub-sectors are solely dependent on fossil fuels to meet their energy demands and requirements, thus making the transport sector the highest consumer of fossil fuels, and consequently, the highest contributor to carbon footprint.
This necessitates the need for gradual decarbonisation of the sector, but not at the expense of the nation’s economy, since the transport sector contributes about 3% of the nation’s GDP.
During the conference there will be Panel Discussions on the following sub themes
1. Adaptation of Renewable Energy Policy and Gas Utilization Strategies In Power Generation Sector
2. Evaluating Decade of Gas Policy and Broad Spectrum of Gas Utilization Strategies
3. Reinforcing CNG, LPG Strategies in Addressing Emissions and Climate Impacts of Fossil Fuel Use in the Transport Industry.
4. Building Local Content Synergy’ between the Insurance Industry and Oil and Gas Sector.
The conference promises to be highly interactive and with such great collaboration and shared commitment of stakeholders the outcome will not only achieve the country’s objectives but also set a precedent for other nations to follow.
Yemisi Izuora
Publisher/Editor
Oriental News Nigeria