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NGF: Governors To Prioritise Sugar Projects For Industrial Growth In States

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NGF: Governors To Prioritise Sugar Projects For Industrial Growth In States

NGF: Governors to prioritise sugar projects for industrial growth in states. The executive secretary said that recent macroeconomic developments had improved the competitiveness and profitability of local sugar production.

The Nigeria Governors’ Forum (NGF) has agreed to prioritise sugar as a key product for accelerating industrial development across all states.

The executive secretary/chief executive officer of the National Sugar Development Council (NSDC), Kamar Bakrin, said this in a statement on Sunday in Abuja.

Mr Bakrin said this decision followed a request by the NSDC as part of efforts to develop the sector, halt the importation of raw sugar, create jobs and achieve national self-sufficiency in sugar production.

“Under the arrangement, the NGF secretariat will also include sugar projects as priority beneficiaries in its engagements with development partners.
“This will be done within and outside the country, while partnering with the NSDC to support states in preparing and positioning investor-ready sugar projects.

“The partnership will focus on facilitating structured engagement between state governments, investors, and industry operators.
”It will also focus on improving coordination around critical enablers such as land access, infrastructure provision, and incentive frameworks,” he said.

Mr Bakrin, during a meeting with NGF leadership, highlighted the vast investment opportunities in the sugar sector and urged the governors of sugarcane-viable states to embrace the development of sugar projects.

He identified 11 states with suitable land for profitable sugar production: Oyo, Kwara, Niger, Nasarawa, Kaduna, Kano, Bauchi, Gombe, Jigawa, Adamawa, and Taraba.

The executive secretary said that recent macroeconomic developments had improved the competitiveness and profitability of local sugar production.

He said that while global sugar prices had remained relatively stable in dollar terms, exchange rate movements had made imports significantly more expensive.

“Exchange rate movements have made imports significantly more expensive, thereby enhancing the commercial viability of domestically produced sugar, whose inputs are largely naira-denominated,” Mr Bakrin said.

He said Nigeria now had strong operational fundamentals for sugar production, with assessments identifying about 1.2 million hectares of prime land suitable for large-scale sugarcane cultivation nationwide.

Mr Barkin, however, acknowledged that only about 200,000 hectares were required to achieve self-sufficiency.

“The availability of suitable land, water resources, labour and policy incentives positions Nigeria favourably for large-scale sugar investments,” he said.
According to Mr Bakrin, the Nigerian sugar sector is currently valued at about $2 billion.

He said that, under the African Continental Free Trade Agreement (AfCFTA), the continental market was estimated at $7 billion, while the market for sugar by-products alone was worth about $10 billion in Nigeria.
Mr Barkin emphasised that sugar projects promoted inclusive development, noting that the industry integrated host communities into the value chain through outgrower schemes and employment opportunities while supporting environmental sustainability.

According to him, a model sugar project producing 100,000 metric tonnes annually requires an estimated investment of about 250 million dollars.
He said it also delivered an internal rate of return of about 24 per cent, in addition to generating valuable by-products such as ethanol and bio-electricity.

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The NGF director-general, Abdulateef Shittu, said many state governments were already engaged or keen to engage in sugar-related investments covering land development, agricultural schemes, and agro-industrial initiatives.

Mr Shittu said unlocking the opportunities would require effective coordination, credible investment frameworks, and strong alignment between federal policy objectives and state-level development priorities.

He pledged the NGF secretariat’s commitment to ensuring that state development priorities increasingly focus on sugar project investments, given their potential for rural development and job creation.

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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