Johannesburg, South Africa — Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, has made a powerful call for urgent reforms in the global economic system at the ongoing G20 Foreign Ministers’ Meeting in Johannesburg. Highlighting the need for economic equity, global security, and sustainable development, Tuggar emphasized that developing nations, including Nigeria, continue to face significant challenges fueled by external financial pressures and inequitable trade structures. Tuggar lauded South Africa’s leadership as the current G20 Presidency and pledged Nigeria’s full support for its core priorities—disaster resilience, debt sustainability, just energy transition, and the strategic use of critical minerals to foster inclusive growth. Pushing for Financial Equity and Inclusive Global Growth The Minister stressed the urgent need for structural reforms in global financial systems to enable developing countries to thrive. He called for a fairer international financial framework that ensures broader access to funding and fosters sustainable economic growth, particularly in Africa. According to a statement by his Media Aide, Alkasim Abdulkadir, Tuggar urged global financial institutions to implement reforms that prioritize long-term growth over restrictive lending conditions, which often stifle development in emerging economies. Tackling Global Security and Socio-Economic Challenges Expanding on global security concerns, Tuggar addressed the surge in global conflicts and humanitarian crises. He called for collective international action and stressed the importance of economic stability in promoting peace. Nigeria, he noted, remains committed to global peacekeeping initiatives. In combating terrorism, Tuggar advocated for a holistic approach that goes beyond military strategies. He emphasized the need for investments in education, healthcare, and employment opportunities—key factors in reducing extremism and promoting long-term stability in vulnerable regions. Tax Justice and Combating Illicit Financial Flows A central focus of Tuggar’s address was the issue of tax justice. He called on G20 members to back President Bola Ahmed Tinubu’s initiative to curb capital flight and tax evasion by multinational corporations. Highlighting the adverse effects of illicit financial flows on African economies, Tuggar urged for stronger regulations against tax havens and demanded increased transparency in global financial transactions. He called for international collaboration to tackle financial corruption and ensure equitable benefits from global trade and investments. Tuggar reaffirmed Nigeria’s dedication to fostering a global economic system that supports inclusive growth and leaves no nation behind. Key Takeaways: For more information on global economic policies discussed at the G20, visit United Nations Economic Development. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
US-Canada Hockey Rivalry Heats Up with Trump’s Remarks Former US President Donald Trump has once again sparked controversy by mocking Canada as a potential “51st state” ahead of a much-anticipated hockey match between the two nations. With tensions already high due to trade disputes and past verbal spats, Trump’s latest comments have further intensified the competitive spirit surrounding the game. The final match of the Four Nations Face-Off tournament, set to take place in Boston, has become more than just a sporting event. Political undertones have fueled emotions on both sides, particularly after Trump’s administration imposed tariffs on Canadian imports. The previous clash between the two teams in Montreal saw aggressive gameplay, including multiple fights and Canadian fans loudly booing the US national anthem. Trump Calls for a US Victory, Takes Another Jab at Canada According to the White House, Trump personally called Team USA after their morning practice session to extend his support. In a social media post, he reiterated his stance, stating: “Let’s go Team USA! With FAR LOWER TAXES AND MUCH STRONGER SECURITY, Canada will one day, maybe soon, become our cherished, and very important, Fifty First State.” Despite being unable to attend the game due to a prior commitment with US governors in Washington, Trump assured fans he would be watching and even invited Canadian Prime Minister Justin Trudeau to join him. This latest remark continues Trump’s pattern of referring to Trudeau as a mere “US governor,” a statement that has drawn criticism from Canadian officials and media outlets. White House Joins in on the Mockery White House Press Secretary Karoline Leavitt echoed Trump’s sentiments, jokingly stating: “We look forward to the United States beating our soon-to-be 51st state.” While his comments carried a sharp political edge, Trump did attempt to soften the rhetoric by offering a sportsmanlike message: “Good luck to both teams. Let’s have a GREAT game tonight. So exciting!” Hockey: A Deeply Rooted Part of Canadian Identity Hockey has long been a source of national pride for Canadians, making Trump’s remarks even more provocative. The Toronto Star reported that a recent Rogers survey found that over 75% of Canadians view hockey as an integral part of their national identity. Additionally, a majority believe that Canada’s international pride is closely linked to its success in the sport. Given these strong sentiments, Canadian fans are expected to rally behind their team with even more passion in response to Trump’s latest comments. Should Canada claim victory, many anticipate a significant surge in national pride, making this more than just a game—it’s a statement. The Final Showdown: A Game with Political Undertones As the puck drops at 8:00 PM ET (0100 GMT Friday), all eyes will be on Boston to witness the rematch between these two fierce hockey rivals. Beyond the sport itself, the game symbolizes an ongoing struggle between two neighboring nations, both on the ice and in political rhetoric. For live updates on the game and more political sports controversies, visit ESPN. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Channel
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The National Assembly has officially forwarded the Investment and Securities Bill (ISB) 2024 to President Bola Ahmed Tinubu for his assent. This crucial step aims to introduce new reforms in Nigeria’s capital market, fostering investor confidence and market growth. Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, confirmed the development during the Securities and Exchange Commission’s (SEC) budget defense in Abuja. He highlighted that the Senate President has signed the bill, and it now awaits the President’s assent, expected within the next 30 days. To further strengthen the capital market, Senator Izunaso revealed that the Committee has recommended a N10 billion special fund for investor education, urging the Minister of Finance to include this in the 2025 national budget. Boosting Market Growth and Investor Confidence Senator Anthony Yaro, present at the budget session, commended the SEC for its progressive approach in 2024. He emphasized that the passing of the ISB and strategic financial reforms, like the reduction in deductions, will position the SEC for an even stronger performance in 2025. “We see great potential in the SEC, and with these reforms, we expect the commission to exceed expectations next year,” Yaro added. SEC’s Milestones and Deduction Cuts Dr. Emomotimi Agama, Director General of the SEC, expressed gratitude to the National Assembly for its continuous support. Highlighting Nigeria’s impressive capital market performance in 2024, Dr. Agama credited the legislature’s backing for creating a dynamic and investor-friendly environment. A notable achievement was the reduction of the Federal Government’s deduction from 50% to 20%, a move Dr. Agama praised as pivotal in boosting market operations. “With the committee’s intervention, we secured this reduction, and we anticipate its full implementation starting March 1,” he confirmed. What’s Next? As stakeholders await President Tinubu’s decision on the ISB 2024, market analysts predict that the bill’s enactment could attract foreign investments and strengthen Nigeria’s economic stability. The inclusion of a dedicated fund for investor education further highlights the government’s commitment to fostering financial literacy and long-term market growth. Securities and Exchange Commission – Nigeria READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Nigeria Governors Advocate Stronger US Partnership on Economy, Governance, and Health The Nigeria Governors’ Forum (NGF), representing all 36 state governors, is pushing for a deeper and more strategic partnership with the United States, focusing on economic growth, transparent governance, and sustainable health programs. This renewed call was made during a high-level meeting in Abuja, chaired by Kwara State Governor AbdulRahman AbdulRazaq. In a post-meeting communique, the NGF highlighted its commitment to driving governance reforms and fostering stronger ties with international partners, especially the US. The forum engaged with the US Ambassador to Nigeria, who emphasized the shift from a donor-recipient approach to a collaborative model that fosters mutual growth and development. US Priorities for Strengthening Nigeria Ties The US Ambassador outlined four strategic pillars that will shape future collaborations: The governors welcomed this comprehensive approach, reaffirming their role in fostering socio-economic growth at the state level. Empowering Women Through the Nigeria For Women Project The forum also discussed the nationwide scale-up of the Nigeria For Women Project (NFWP), spearheaded by the Minister of Women Affairs, Imaan Ibrahim. Initially launched in six states, the project now aims for nationwide coverage, focusing on empowering women through: Enhancing Legislative Collaboration and Digitalization In efforts to improve governance, the NGF also engaged with the Conference of Speakers of State Legislatures of Nigeria (COSLON). Discussions focused on: The NGF reaffirmed its dedication to strengthening governance structures and promoting inclusive economic policies that benefit all Nigerians. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Nigeria has filed a monumental $81.5 billion lawsuit against Binance, accusing the world’s largest cryptocurrency exchange of tax evasion and destabilizing the naira. The lawsuit includes $2 billion in alleged unpaid taxes and $79 billion in economic damages, highlighting Nigeria’s intensified efforts to regulate cryptocurrency activities that impact its economy. According to Reuters, Nigeria’s Federal Inland Revenue Service (FIRS) claims Binance maintained a “significant economic presence” in the country but failed to meet tax obligations in 2022 and 2023. The FIRS is also seeking a 26.75% interest on the unpaid taxes and holds Binance accountable for the naira’s steep devaluation against foreign currencies. Crackdown on Crypto: Nigeria’s Tough Stance This lawsuit is part of Nigeria’s broader crackdown on cryptocurrency trading, as the government battles inflation and currency devaluation. Nigerian authorities argue that crypto exchanges facilitate capital flight and illicit financial activities, further weakening the naira. Binance had already been under heavy scrutiny before this legal move. In early 2024, two Binance executives—Tigran Gambaryan and Nadeem Anjarwalla—were detained on charges of tax fraud and money laundering, though the charges were later dropped. The situation escalated when Binance suspended naira transactions in March 2024, responding to mounting regulatory pressure. Diplomatic Tensions: US Involvement in Binance Saga The arrest and prolonged detention of Binance’s former Head of Financial Crime Compliance, Tigran Gambaryan, a US citizen, triggered significant diplomatic strain. US lawmakers labeled his detention a hostage situation, demanding his release. After months of international pressure and a resolution from US Representative Rich McCormick, Gambaryan was freed in October 2024. This case intensified global discussions on cryptocurrency regulations and diplomatic protocols, especially regarding foreign executives detained under contentious circumstances. Potential Ripple Effects on Global Cryptocurrency Regulation Nigeria’s lawsuit against Binance may set a precedent for how emerging markets regulate global cryptocurrency platforms. With Nigeria being one of Africa’s largest crypto markets, a successful case could inspire similar actions in other countries grappling with the economic impact of digital currencies. As legal proceedings unfold, the crypto community and investors are closely monitoring the situation. The outcome could influence how international crypto exchanges operate in emerging markets, potentially prompting stricter compliance with local tax laws and financial regulations. For more details on this developing story, visit Reuters or follow updates from Nigeria’s Federal Inland Revenue Service. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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U.S. Air Force Strengthens Anti-Terrorism Efforts Across Africa, Targets Boko Haram and Others The U.S. Air Force is intensifying its operations against terrorist groups like Boko Haram and ISIS across Africa. General James Hecker, Commander of the U.S. Air Forces in Europe and Africa (USAFE-AFAFRICA), confirmed during a virtual news briefing at the 2025 African Air Chiefs’ Symposium (AACS) in Lusaka, Zambia, that airstrikes will target high-value terrorist threats endangering both African nations and U.S. interests. In the digital conference, organized by the News Agency of Nigeria (NAN), Gen. Hecker emphasized the U.S. commitment to military partnerships across Africa, underlining that threats like ISIS and Boko Haram continue to destabilize regions and pose a global security concern. Citing successful airstrikes against ISIS in Somalia, Hecker reiterated the Air Force’s dedication to eliminating terrorist networks. “We will continue targeting terrorist organizations that endanger our African partners and the United States,” Hecker declared. While the focus remains on counter-terrorism, Hecker highlighted that U.S. partnerships with African air forces extend beyond security. The U.S. also supports humanitarian missions and disaster relief initiatives. Regarding Nigeria’s battle against Boko Haram, Hecker mentioned that the U.S. has long provided military training and equipment to bolster Nigerian air capabilities. “This symposium isn’t about air superiority or conflict; it’s about unity. African nations can support one another through strategic partnerships,” he explained. Zambia’s Air Force Commander, Lt.-Gen. Oscar Nyoni, further elaborated on AACS’s mission, emphasizing its role in humanitarian efforts. He highlighted how the member states’ collaboration ensures the swift provision of food supplies, logistics, and aerial support during emergencies. “Our combined air forces simplify logistics and strengthen our capacity to respond to disasters. With more nations involved, we can offer faster and broader assistance,” Nyoni stated. As terrorism continues to threaten stability across Africa, the U.S. Air Force’s proactive involvement reinforces its dedication to securing the region while promoting cooperation and humanitarian support. U.S. Department of Defense – Africa Operations READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Federal Government of Nigeria has confirmed a significant reduction in petrol imports, with the country now bringing in just 25 million litres daily. This adjustment follows improvements in local refinery operations, which now supply half of Nigeria’s daily petrol demand, reducing reliance on imports. Domestic Refineries Strengthen Fuel SupplyDuring a stakeholder meeting in Abuja, Ogbugo Ukoha, Executive Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), highlighted that while local refineries now cover 50% of the nation’s petrol needs, imports remain essential to avoid potential shortages in the downstream sector. Ukoha explained that prior to the removal of the petrol subsidy on May 29, 2023, Nigeria consumed around 66 million litres daily. However, following the subsidy’s removal, demand dropped sharply, stabilizing at 50 million litres per day. Ban on High-Capacity Tankers to Enhance SafetyIn a major safety move, the NMDPRA has announced a ban on 60,000-litre capacity tankers from March 1, 2025. This decision comes amid concerns over increased petrol tanker fire incidents linked to high-capacity trucks. Despite strong opposition from the National Association of Road Transport Owners (NARTO)—who warned of a ₦300 billion loss due to the ban—the regulatory authority emphasized safety concerns as the driving force behind this measure. Ukoha stated that starting Q4 of 2025, an even stricter rule will be enforced, limiting petroleum transportation to tankers with a maximum capacity of 45,000 litres. Stakeholders Support the MoveThe decision was backed by agencies including the Department of State Services (DSS), Federal Fire Service, Federal Road Safety Corps, and key petroleum stakeholders like NUPENG, MEMAN, and IPMAN. This new regulation aims to minimize road hazards and ensure safer transportation of petroleum products across Nigeria. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Zamfara Market Explosion Leaves 4 Dead, 50 Injured – NEMA Reports In a tragic turn of events, the National Emergency Management Agency (NEMA) has confirmed that four individuals lost their lives, and 50 others sustained injuries following a devastating explosion at the Talata Mafara Market in Zamfara State on Tuesday. The NEMA Director General, Mrs. Zubaida Umar, announced in an official statement that the agency promptly dispatched a rescue team from its Sokoto Operations Office to manage the crisis. Cause of the ExplosionPreliminary investigations indicate that the explosion resulted from a fire that swept through shops and stalls in the bustling market. Eyewitnesses reported that the fire was sparked by a carelessly discarded cigarette butt, which ignited flammable materials, leading to the destructive blaze. Emergency Response and Ongoing SupportOut of the 50 injured victims, 46 were transferred to Usman Dan Fodio University Teaching Hospital in Sokoto. They are currently receiving specialized care in departments including orthopedics, surgery, the ICU burn unit, and ENT. NEMA has partnered with the Zamfara State Emergency Management Agency and other local authorities to offer continued support to the victims and their families. Emergency responders are actively working to assist affected traders and prevent further casualties. As recovery efforts continue, NEMA emphasizes the importance of market safety protocols to avoid similar incidents in the future. For More Information:Stay updated on emergency news in Nigeria through NEMA’s official site — a verified and trusted source for disaster management updates. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Senate Probes USAID Over Alleged Boko Haram Sponsorship: NSA, DSS, NIA, and DIA Chiefs Summoned The Nigerian Senate has launched an in-depth investigation into allegations that the United States Agency for International Development (USAID) has been indirectly funding Boko Haram. The Senate summoned key security figures, including National Security Adviser Mallam Nuhu Ribadu, Director General of the Department of State Services (DSS) Adeola Ajayi, Director General of the National Intelligence Agency (NIA) Ambassador Mohammed Mohammed, and Director of the Defense Intelligence Agency (DIA) Major General Emmanuel Undiandeye, for a closed-door session. This action follows claims by U.S. Congressman Scott Perry, who alleged during a U.S. Subcommittee hearing that USAID has unintentionally funneled around $697 million annually to global terrorist groups, including Boko Haram. Though the U.S. Congress has initiated its own investigation, the Nigerian Senate deemed it necessary to conduct a parallel inquiry, given the potential implications for national security. Security Concerns and Government Response The Senate expressed deep concerns over Nigeria’s escalating insecurity and the mystery surrounding Boko Haram’s sustained operations. Senator Ali Ndume, who sponsored the motion, emphasized the devastating impact of the insurgency, particularly in northeastern Nigeria, and the need to trace its funding sources. “The devastation caused by Boko Haram has been immense, leading to thousands of deaths, widespread destruction, and internal displacement,” Ndume stated. “Understanding their financial backing is crucial to dismantling their operations.” Calls for Transparency and Caution While the Senate pushes for transparency, Senate President Godswill Akpabio urged caution, warning against relying solely on unverified social media claims. He emphasized the importance of hearing directly from security agencies before making public judgments. “Social media is rife with misinformation. We must base our decisions on verified intelligence,” Akpabio said. However, Ndume countered Akpabio’s caution, pointing out that the allegations are not mere rumors but are under formal investigation by the U.S. Congress. Presidential Involvement and Next Steps President Bola Tinubu has also become involved, holding a private meeting with Senate President Akpabio at the Presidential Villa to discuss the matter. Although the details of the meeting remain confidential, it underscores the gravity of the allegations. The Senate remains firm that if investigations confirm USAID’s involvement, Nigeria will reconsider the agency’s operations within its borders. International Oversight and Monitoring In response to these claims, the U.S. Mission in Nigeria reaffirmed its commitment to transparency, stating that robust monitoring systems are in place to ensure U.S. assistance reaches its intended recipients. As the investigation unfolds, Nigeria’s lawmakers and security agencies aim to uncover the truth and reinforce measures against foreign influence in domestic terrorism. : United States Government Accountability Office (GAO) on Foreign Aid Transparency READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Anger as Nigerian Army Shuts Down Six Onitsha Markets, Traders Suffer Huge Losses The shutdown of six major markets in Onitsha, Anambra State, by personnel of the Nigerian Army has sparked outrage, leaving thousands of traders in financial distress. Under the pretext of cracking down on drug dealers, the soldiers have taken over business hubs, halting legitimate trade activities and causing significant economic hardship. Markets Affected by Military Clampdown LMSINT MEDIA has learned that the affected markets include: Reports indicate that soldiers from the Onitsha 302 Artillery Regiment and General Support Service have maintained strict control over these markets for weeks. Despite the initial intervention of the National Agency for Food and Drug Administration and Control (NAFDAC) to address the sale of counterfeit drugs, the markets remain closed, leaving traders helpless. Human Rights Organization Condemns Army’s Actions According to the International Society for Civil Liberties and Rule of Law (Intersociety), the prolonged closure has led to massive financial losses amounting to at least ₦20 billion for traders, particularly those in Onitsha Drug Market. The organization strongly condemned the excessive use of military force, describing it as a “militarized approach” to handling civilian matters. Intersociety urged NAFDAC to demand the immediate withdrawal of the Nigerian Army from the markets, citing unprofessional conduct and alleged corrupt practices by soldiers. The group also called for compensation for traders who have been financially devastated by the closure. Traders Cry Out Over Economic Hardship The forced closure has not only halted business operations but has also plunged thousands of traders into financial instability. Many report being unable to provide for their families as they have been denied access to their shops and forced out of their legitimate businesses. “The worst part is that even traders in markets not directly targeted by NAFDAC’s operation have been locked out permanently,” a market leader lamented. “We support efforts to remove counterfeit drugs, but the suffering inflicted on innocent traders is unacceptable.” Calls for an Immediate End to the Shutdown While stakeholders agree that eliminating counterfeit drugs is necessary, they argue that it should not come at the expense of legitimate businesses. Rights groups, trade associations, and community leaders are now appealing to authorities to restore normalcy and allow economic activities to resume. For further updates on this developing story, visit BBC News for related reports. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Anambra State Police Command has confirmed that two suspects linked to the killing of Hon. Justice Azuka, the Onitsha 1 Constituency representative in the State House of Assembly, have escaped from detention. Hon. Azuka, who was elected under the Labour Party (LP), was abducted at Ugwunankpa Road, Inland Town, Onitsha. His remains were discovered 40 days later on the 2nd Niger Bridge. Over the weekend, he was laid to rest in Onitsha as mourners gathered to pay their last respects. According to the State Police Public Relations Officer (PPRO), SP Tochukwu Ikenga, law enforcement agencies are intensifying efforts to recapture the fugitives. He further assured that officers responsible for their escape will face disciplinary measures. Police Commissioner Reacts to the Escape Commissioner of Police, Ikioye Orutugu, has deployed extensive operational, human, and intelligence resources to track down the escapees. He also ordered an internal investigation to hold any negligent officers accountable. Ikenga revealed that the two suspects were assisting police in an operation to apprehend a suspected receiver of stolen goods and recover vehicles linked to the gang’s criminal activities. Although the operation resulted in the arrest of the receiver and the recovery of two stolen vehicles, the detained suspects managed to flee. Commitment to Justice Commissioner Orutugu reaffirmed the commitment of the police force to ensuring that all perpetrators of criminal activities face justice. He reassured the public that every possible effort is being made to rearrest the escaped suspects and enforce disciplinary actions against any officers found culpable in the matter. For further updates on security and crime-related issues, visit Trusted Source for detailed reports. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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Key Highlights: Teaching Hospitals in Crisis Due to Escalating Electricity Costs Rising electricity costs are placing immense strain on Nigeria’s teaching hospitals, threatening healthcare delivery and medical training. These institutions, vital for patient care and medical education, are facing operational challenges due to skyrocketing power bills and unreliable electricity supply. The Nigerian Electricity Regulatory Commission (NERC) categorized hospitals under Band A, promising 20 hours of electricity daily but imposing significantly higher tariffs. Unfortunately, many hospitals do not receive the promised power supply despite paying exorbitant fees. Hospitals Struggle to Stay Operational Findings indicate that most teaching hospitals struggle to manage operational expenses as energy costs quadruple. For instance, the University College Hospital (UCH), Ibadan, faced power disconnection due to a staggering N3.1 billion outstanding bill, with monthly charges between N50M and N60M. Similarly, the Nigeria Institute of Medical Research (NIMR) incurs monthly electricity bills between N44M and N49M, significantly affecting its research activities. General hospitals are also cutting back on energy consumption, limiting power usage to critical units while running other sections on costly diesel generators. Some hospitals spend over N90M monthly on diesel alone, exacerbating financial woes. Soaring Monthly Electricity Bills Across Teaching Hospitals Unfulfilled Government Promises on Subsidy Despite the Federal Government’s 2024 pledge to subsidize 50% of electricity costs for hospitals, the relief has yet to materialize. Medical Directors stress that without urgent intervention, hospitals will struggle to sustain services. Hospital Leaders Call for Renewable Energy Solutions Chief Medical Directors (CMDs) are advocating for long-term solutions such as solar power and other renewable energy sources. At the National Orthopaedic Hospital, Lagos, over N1 billion is spent annually on energy, pushing administrators to explore solar alternatives. However, solar power is insufficient for high-energy medical equipment, necessitating additional government investment. CMDs Speak on the Urgent Need for Action Call for Immediate Government Action Healthcare leaders stress the importance of electricity in patient care, urging the government to prioritize sustainable energy solutions. Without intervention, the rising cost of power will continue crippling Nigeria’s healthcare institutions, ultimately affecting patient outcomes and medical training. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, recently visited the premises of Samsung Heavy Industries Nigeria (SHIN) and Africoat Nigeria Limited, a pipe coating facility located in Takwa Bay, Lagos. This visit aligns with his commitment to evaluating oil and gas facilities nationwide, ensuring their participation in current and forthcoming major industry projects. Promoting Local Involvement in Oil and Gas Projects During his inspection, Ogbe reaffirmed NCDMB’s commitment to collaborating with international oil companies (IOCs) to foster new projects. He emphasized the necessity for these companies to engage indigenous firms with demonstrated expertise, as stipulated by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. He highlighted that the board’s initiatives support President Bola Ahmed Tinubu’s economic agenda by accelerating new projects, generating employment, and stimulating economic growth. Samsung Heavy Industries Showcases Capacity At Samsung Heavy Industries Nigeria, Managing Director Mr. Jin Lee showcased the company’s local capabilities, which include heavy fabrication and FPSO integration quayside. He referenced SHIN’s successful execution of six modules for TotalEnergies’ Egina FPSO in 2018, demonstrating their expertise in handling large-scale projects. Business Development Manager, Mr. David Bruce Inglis, elaborated on SHIN’s training initiatives, revealing that 560 welders, including women, were trained during the Egina project. He noted that the facility once employed over 1,000 workers at its peak but has since scaled down to 131 due to a lack of ongoing projects. However, he assured that former employees could be rehired once new projects are secured. Additionally, he hinted at SHIN’s future plans to manufacture oil and gas components within Nigeria for export, leveraging the country’s strategic geographic position. Africoat Urged to Resolve Disputes for Business Revival At Africoat, Ogbe urged the company’s leadership to settle its longstanding disputes with its financial partners and landlord, Lagos Deep Offshore Logistics (LADOL). These unresolved conflicts have hindered the plant’s operations since its completion in 2017. He recommended a peaceful resolution to enable the facility’s rehabilitation, which would benefit investors and create employment opportunities. Africoat’s Managing Director, Mr. Frank Twynam, acknowledged ongoing efforts to resolve the impasse. He revealed that a substantial investment of $42 million was made to develop the corrosion and concrete weight coating plant. He further assured that once the dispute is settled, a comprehensive plan is in place to restore the facility to full operational capacity. Nigerian Content Development and Monitoring Board READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
