Economy
FG Targets $12bn Annual Revenue From Electronic Navigational Charts: Matawalle
FG Targets $12bn Annual Revenue From Electronic Navigational Charts: Matawalle
FG targets $12bn annual revenue from electronic navigational charts: Matawalle. He commended the National Hydrographic Agency for work being done since its establishment.
Nigeria is targeting about 12 billion dollars annual revenue from chart validation, distribution and revenue management for international shipping clients by tapping into the 90 billion dollars global market for Electronic Navigational Chart.
The minister of state for defence, Bello Matawalle, made this known at the World Hydrography Day 2025 and West African Hydrographic Summit with the theme, “Seabed Mapping -Enabling Ocean Action”, on Saturday in Abuja.
He said the federal government had established the International Centre for Electronic Navigational Charts West Africa Regional Office and Training Centre.
He pledged Nigeria’s support for hydrographic capacity building, investment in technology, and stronger regional ties to ensure that no part of Nigerian waters remains uncharted, unsafe, or unsustainable.
According to him, sustainable development, especially in the nation’s coastal and riverine communities, depends on how well we understand and manage our marine environment.
“It is on this note that I announce the formal establishment of the International Centre for Electronic Navigational Charts West Africa Regional Office & Training Centre to be hosted by the National Hydrographic Agency here in Abuja.
“By this strategic partnership, the National Hydrographic Agency of Nigeria has joined four other global regional offices in the US, UK, Australia and Brazil.
“This move positions Nigeria to tap into the 90 million dollar global market for Electronic Navigational Charts, potentially generating between 9 million and 12 million dollars in annual revenue from chart validation, distribution, and revenue management for international shipping clients,” he said.
The minister noted that seabed mapping was no longer a technical luxury but a strategic imperative where cables connect our digital world, pipelines fuel our industries, and biodiversity sustains the nation’s ecosystems.
He said in spite of its central role to modern society, it remained uncharted, unknown, and therefore unprotected.
According to him, the data that hydrographers gather beneath the nation’s waters enables safe navigation, marine spatial planning, climate science, coastal defence, and blue economy development.
He commended the National Hydrographic Agency for work being done since its establishment in 2021.
“In essence, seabed mapping is the foundation upon which sound ocean action is built.
“It has taken giant strides to place Nigeria on the map as a credible hydrographic nation active in the engagement and promotion of hydrography.
“We are proud to support your efforts as you align with the International Hydrographic Organization’s goals and drive innovation across West Africa,” he said
Mr Matawalle said the event was not just about mapping the seabed but about creating tools, data, and partnerships that enable real ocean action, better decision-making, cleaner coastlines, safer navigation, and sustainable exploitation of marine resources.
He said that seabed mapping plays a critical role in unlocking this potential in the blue economy, an emerging frontier that offers vast opportunities for economic diversification, job creation, food security, and energy development.
“From charting offshore wind zones to identifying safe routes for maritime trade and protecting critical marine habitats, hydrography is the backbone of a sustainable ocean economy.

FG Targets $12bn Annual Revenue From Electronic Navigational Charts
“Therefore, Nigeria must leverage its hydrographic capacity not only to secure its waters but to fuel its economic transformation.
“By investing in seabed mapping, we invest in resilience, in growth, and in future generations.
“Let us leave this summit with renewed purpose to support hydrographic development, not just as a technical endeavour, but as a national security priority, an economic catalyst, and a global commitment to sustainable development.
“On behalf of the Government of Nigeria, I pledge continued support for hydrographic capacity building, investment in technology, and stronger regional ties to ensure that no part of our waters remains uncharted, unsafe, or unsustainable,” he added.
The event featured the unveiling of the navigational charts of Calabar channel.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
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
“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.
Crime
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
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
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
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
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.

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.
-
Crime9 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News10 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Crime12 months agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
News12 months agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News11 months agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy9 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?
