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Economy

China Sets To Build Africa’s First Insulin Plant In Nigeria

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Nigeria, China Strengthen Partnership To Backs $550m Inner Galaxy Expansion

China Sets To Build Africa’s First Insulin Plant In Nigeria

China sets to build Africa’s first insulin plant in Nigeria. The Chinese Ambassador to Nigeria, Yu Dunhai, has announced his country’s plans to build Africa’s first local insulin production facility in Nigeria.

Yu disclosed this on Wednesday in Abuja at a reception marking the 76th anniversary of the founding of the People’s Republic of China.

He said that this would transform blood glucose levels management, prevent diabetes-related complications, and end the country’s reliance on imported insulin.

“Chinese companies are in talks with Nigeria to build Africa’s first local insulin production facility, potentially ending Nigeria’s reliance on imported insulin and positioning Nigeria as a hub for African medical biotechnology.

“This project is part of the tangible benefits of China-Nigeria cooperation, alongside the recently completed Abuja Water Supply Project, with a daily capacity of 480 cubic metres, which now provides clean water to nearly three million people,” he said.
Yu also highlighted China’s long-standing support for Africa’s development that fosters the cooperation model that is equal, pragmatic, and efficient.

He said that China has remained committed to supporting Africa’s integration and enhancing its capacity for self-driven development.

The envoy also reflected on the symbolism of both countries celebrating their national days on October 1.
“Both China’s National Day and Nigeria’s Independence Day fall on the same day, October 1st. It is a shared national memory that binds our two peoples together,” he said.

He also celebrated individual stories of friendship and collaboration.

“Not long ago, as the first Nigerian female train driver trained by CCECC, Ms. Issah Fatimah Abiola, known by her Chinese name Bai Yang, was honoured with China’s “Friendship Envoy Award”, one of only six global recipients.

“Her story inspires many Nigerian women to strive for self-reliance, becoming a shining symbol of China-Nigeria friendship.
“Equally impressive is a young boy from a bilingual school in Kano, Ibrahim Ismail.

Nigeria, China Strengthen Partnership To Backs $550m Inner Galaxy Expansion

Nigeria, China

“The first time I watched the video when Ibrahim speaks Mandarin Chinese, I felt totally amazed. He is not only fluent, but without any accent. Ibrahim is with us today,” he said.

He also lauded steps by Nigeria to add Chinese language to the new curriculum of senior secondary school.
“I think this is wonderful news. It will serve as an important bridge for deepening China-Nigeria friendship,” he said.

Also, Sen. Barau Jibrin, Deputy President of the Senate, conveyed greetings from President Bola Tinubu to China and praised their transformation journey and contribution to strengthening relationships between the two countries.

Jibrin, represented by Sen. Babangida Hussaini, stressed Nigeria’s resolve to strengthen cooperation with China in critical sectors.
“In recent decades, the relationship between Nigeria and China has blossomed into a comprehensive strategic partnership.

“ It is a partnership defined not only by the signing of agreements, but also by tangible outcomes in infrastructure, energy, agriculture, education, defence, trade, and investment.

“As legislators in Nigeria, we are committed to providing the enabling environment, legal frameworks, and oversight mechanisms to ensure that these partnerships remain transparent, sustainable, and impactful for the benefit of future generations,” he said.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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