Economy
DIAN Seeks Successive Military Leadership To Sustain Defence Partnerships
DIAN Seeks Successive Military Leadership To Sustain Defence Partnerships
DIAN (Defence Industries Association of Nigeria) seeks successive military leadership to sustain defence partnerships. Mr Balogun said the sustainability of PPPs was critical to building investor confidence, developing local capacity, and ensuring the continuity of defence projects.
The Defence Industries Association of Nigeria has called on successive military and political leaders to ensure the continuity of Public-Private Partnerships agreements in the nation’s defence sector.
The secretary-general of DIAN, Kola Balogun, made the appeal in an interview on the sidelines of the just-concluded African Chiefs of Defence Staff Summit in Abuja.
Mr Balogun said the sustainability of PPPs was critical to building investor confidence, developing local capacity, and ensuring the continuity of defence projects.
“Once a PPP agreement is signed, huge investments and overhead costs are already committed. For a successor to truncate such projects is not good enough for the continuation of public-private partnership initiatives,” he said.
The DIAN scribe noted that several defence industries across the continent had raised the same concern during the summit, adding that the chiefs of defence agreed on the need to sustain locally developed capabilities.
According to him, ensuring the continuity of such agreements will strengthen Africa’s defence industrial base, reduce reliance on foreign suppliers, and promote regional self-reliance.
Mr Balogun commended the summit for providing a platform to discuss challenges and harmonise strategies for African defence industrial development, adding that the resolutions reached would go a long way in reducing political influence in procurement.
DIAN Seeks Successive Military Leadership
“The chiefs of defence have all agreed on the importance of domestication of capabilities.
“With that consensus, presidents will listen to their own defence industries and ensure sustainability, rather than allow political influence to undermine the process,” he added.
He further urged African governments to build trust with local manufacturers by honouring existing agreements, stressing that no country could build a robust defence sector on the basis of policy inconsistency.
NNPC Ltd Strengthen Strategic Partnerships At CERAWeek 2026
NNPC Limited continues to strengthen strategic partnerships at CERAWeek 2026, with high-level engagements focused on advancing Nigeria’s upstream growth and investment outlook.
Speaking after a meeting with senior executives from Chevron Corporation, the Group Chief Executive Officer, NNPC Ltd., Engr. Bashir Bayo Ojulari, stated: “Our discussions focused on strengthening our long-standing partnership and aligning our strategic priorities to drive production growth, deepen gas development, and expand opportunities in the deepwater sector.”
NNPC
Noting that NNPC Limited is leveraging the enabling investment climate to advance new, high-impact projects and expand its portfolio, the GCEO said the Company is committed to working with partners to ensure Nigeria’s energy sector remains competitive, resilient, and globally relevant.
CBN Acknowledges High Court Ruling Over Dissolution Of Union Bank Board
Union Bank board. The court ruled that the CBN acted beyond its legal powers and, therefore, overturned that decision.
(CBN), on Thursday, acknowledged the judgement of a Federal High Court, Lagos Division, over its regulatory action on the Union Bank of Nigeria Plc (UBN) in January 2024.
This is contained in a statement by its acting director, Corporate Communications Department, Hakama Sidi-Ali, made available to journalists in Abuja.
Ms Sidi-Ali said that the apex bank was currently obtaining the Certified True Copy of the judgement and would review it carefully. She reaffirmed the CBN’s unwavering commitment to the rule of law.
“As the apex regulatory authority, the CBN remains committed to acting in accordance with its mandate and established legal processes.
“The CBN assures the public that UBN’s status is unchanged and that it remains fully capable of meeting its obligations to customers, depositors, and all stakeholders.
“The CBN will continue to provide the necessary regulatory oversight to ensure that the Union Bank operates in a safe, sound, and stable manner, while maintaining public confidence in the financial system,” she said.
CBN
The court ruling of Wednesday relates to an earlier action taken by the CBN in January 2024, which dissolved UBN’s board and management.
The court ruled that the CBN acted beyond its legal powers and therefore overturned that decision.
Kano Governor Yusuf Sacks Commerce Commissioner
Kano Governor Yusuf sacks commerce commissioner. Mr Yusuf expressed appreciation for the services rendered by the former commissioner.
Governor Abba Yusuf of Kano State has sacked Shehu Sagagi, commissioner for investment, commerce and industry, with immediate effect.
This is contained in a statement issued on Thursday in Kano by the governor’s spokesperson, Sunusi Dawakin-Tofa.
He said that Mr Sagagi has been directed to hand over the affairs of the ministry to the director of commerce pending further directives.
Mr Yusuf expressed appreciation for the services rendered by the former commissioner during his tenure in office.
He acknowledged Mr Sagagi’s contributions to the development of the state, particularly in politics, religion, and the growth of small and medium-sized enterprises.
Abba Yusuf
The governor wished him success in his future endeavours and reassured the public that his administration remains committed to efficient service delivery and to the ongoing strategic realignment of government structures for sustainable development in Kano State.
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