Business & Economy
Coast Guard Will Enhance Nigeria’s Maritime Security & Global Standing – PC-NCG Boss
By David Owei, Bayelsa
Chief Executive and Accounting Officer of the Provisionary Committee for the proposed Nigerian Coast Guard (PC-NCG), Captain Noah Ichaba says the establishment of Coast Guard as Maritime Law Enforcement Agency will enhance the country’s maritime security, prevent global embarrassment, and facilitate intelligence sharing with the international Coast Guard Network, ultimately contributing to the growth of Nigeria’s blue economy.
Captain Ichaba, in a statement issued on Saturday and endorsed by his Director of Communications & Public Affairs, Dr. Piriye Kiyaramo, noted that the Provisionary Committee of the proposed Nigerian Coast Guard is genuinely concerned with the US Coast Guard’s interception and seizure of a vessel on 10th December 2025, owned by a Nigerian-Registered Company, reportedly involved in Crude Oil Theft, Illicit Drug, Piracy, Money Laundering, flying Guyana’s flag and for other Transnational crimes.
“Without doubt, the afore stated offense has serious implications on Nigeria’s honour, as the crime involves treasonable felony, challenge of national sovereignty, threat to national security, crossing of legal and political red lines, and evoking an alarm among self-governing authorities.
“The sad effect of the reported ignominy is that; it has entered Nigeria in world record as a State that is well-known for bad doings. Such reference comes with incalculable damage and yet to be fathomed consequences as well as exacerbated diplomacy.
“The most unfortunate and sad pain is that, the above infamy was a preventable one if Coast Guard had been established before that scandalous incident, whether the vessel assailed from Nigeria’s jurisdiction or outside it.
It is pertinent to inform concerned authorities that the lashing travails and endoscopy bleeding that Nigeria’s Maritime Business Domain and name is suffering on the world stage, is majorly due to the absence of an autonomous Coast Guard Agency in Nigeria, which should have carried out its crucial duties of enforcing maritime law, of securing the Open Maritime Commercial Activities, Transactions, Engagements and of performing other critical functions, services and protocols.
“This pitiable situation which Nigeria finds herself in, as a Maritime Nation, calls for proportionate sympathy and patriotic redemptive action. Without that, Nigeria will face more of such national disgrace and international embarrassing undertakings, and will further indicate that the country’s efforts at growing Nigeria’s economy in a faster, better and steady manner will remain a mirage.
“This, incident therefore, calls for taking appropriate, adequate and timely action on creating Coast Guard; so as to place Nigeria at per with other maritime nations of the world in line with global best practices and desired international prestige as well as to deter public shame or disgrace.
“The establishment of the Nigerian Coast Guard is expected to have several benefits for the country. It’ll enhance maritime security by providing a dedicated agency to patrol and protect Nigeria’s waters, preventing illegal activities like piracy, smuggling, and oil theft.
“It will also bring Nigeria in line with global best practices, facilitating intelligence sharing and cooperation with international Coast Guard networks. This cooperation can help prevent global embarrassment, like incidents involving Nigerian waters or vessels, and promote a positive image of Nigeria’s maritime sector.
“A secure maritime environment can also drive growth in Nigeria’s blue economy by encouraging investment, promoting sustainable use of marine resources, and boosting trade. This can create jobs and stimulate economic development.
“To close that gap of misery, a remarkable action, in the best interest of the nation is to create Coast Guard without further delay, for it is the only truly recognized Maritime Law Enforcement Agency with the right occupational duty, organizational name and appropriate career nomenclature
“Another crushing pain in the whole matter is that, as long as Nigeria is involved and continue in maritime business without establishing Coast Guard which is one of the globally required Pillars of Maritime Business, Nigeria will continue to be at the mercy of Ardent Traitors, International Maritime Organization, Association of International Coastguard Network and such other related Bodies as well as Member States that has established Coast Guard in their respective countries.
“Agree or disagree, bilateral and multilateral diplomacy at those levels will be to Nigeria’s disadvantage. The antidote to this painful reality and succinct scenario is to establish Coast Guard without further delay, inaction or improper decision.
“Relevant Authorities are respectfully invited to kindly take into account the fact that time is of the essence, and history does not spare anyone because it has no regard for any person’s worth, weight and wiggle. The continued absence of Coast Guard from the working environment of Nigeria’s Maritime Community will continue to invite the world to jeer at Nigeria, in a more mocking manner, which they will leverage on.
“The interception and seizure of a Nigerian VLCC is indeed a stain on the country’s integrity and a matter of grave concern. Such incidents undermine Nigeria’s reputation as a reliable partner in the global maritime community and can have far-reaching economic implications.The incident highlights the need for robust maritime security measures to prevent such occurrences and protect Nigeria’s mariti
“The incident also raises questions about the effectiveness of Nigeria’s maritime security agencies and the need for improved coordination and collaboration to prevent and respond to such incidents,” the statement reads in part.
Business & Economy
Senate fixes March 17 for passage of N58.472trillion 2026 budget
By Our Correspondent
The Senate has tentatively fixed Tuesday, March 17, 2026 , for final consideration and passage of N48.472trillion 2026 budget .
Senate Committee on Appropriations made this declaration at a special session held on Friday, fixing February 2nd to 13th for consideration of the budget estimates at the committee level .
For all inclusive process, the committee , fixed Monday , February 9, 2026 for public hearing on the budget proposal where according to its Chairman, Senator Solomon Olamilekan Adeola ( Ogun West), an erudite Professor of Economics from University of Lagos , Wasiu Adeoye , will make power points presentation .
As proposed by Senator Adeola and adopted by the committee, Thursday, March 5, 2026, has been fixed for an interactive session between members of the committee and economic managers of the Federal Government like the Minister of Finance and Coordinating Minister of the Economy, Wale Edun , Minister of Budget and National Planning , Senator Atiku Bagudu etc .
This is as he added that 16th to 23rd February 2026, are fixed for submission of reports on budget defence by the various committee chairmen for presentation of reports by the committee to the Senate on 17th of March .
He informed members of the committee that the Senate wanted the budget passed on the 12th of March , 2026, before he convinced the leadership for an additional one week .
He added that for meticulous scrutiny and consideration of the budget estimates , hard copies of the 2026 budget have been printed for chairmen and members of the various standing committee’s they
The committee, accordingly as moved by Senator Adamu Aliero ( Kebbi Central) and seconded by Senator Orji Uzor Kalu ( Abia North), adopted the time table .
Business & Economy
Otuaro Attributes Huge Deployment Of PAP Scholarship Beneficiaries To President Tinubu’s Strong Backing
By David Owei,Bayelsa
The Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro, has attributed his large-scale onshore and offshore deployment of scholarship beneficiaries to the robust backing of President Bola Tinubu.
He spoke during the pre-departure orientation for another set of 25 foreign post-graduate scholarship beneficiaries deployed by the PAP to universities across the United Kingdom for the 2025-2026 academic session, at the agency’s head office in Abuja on Thursday.
The event featured talks on “Social and Cultural Relations in the UK”, “Academic Expectations”, “The Administration of the Scholarship”, and the presentation of laptop to each of the scholarship beneficiaries to enhance their research and thesis writing.
The scholars will pursue programmes in artificial intelligence, quantity surveying and commercial management, cyber security, business analytics, advanced structural engineering, data science, finance and financial tech, international law and security, public health, among others.
Otuaro stated that President Tinubu’s gracious approval of budgetary increase for the PAP has made it possible for more scholarship beneficiaries to be accommodated for undergraduate and post-graduate studies.
According to him, President Tinubu’s unwavering commitment has strengthened the PAP as a pathway to not only changing the Niger Delta narrative, but building the requisite manpower for the social, economic and political advancement of the area and indeed the country.
Otuaro, who was represented by his Technical Assistant, Edgar Biu, also noted that the tireless supervision of the PAP by the National Security Adviser, Mallam Nuhu Ribadu, had also contributed immensely to the tangibles and milestones recorded by the agency.
Addressing the scholars, he said: “We are extremely grateful to His Excellency, President Bola Ahmed Tinubu, GCFR, for his wholesome and strong commitment to this Programme, not only in terms of policy direction but also funding.
“Every one in the Niger Delta is happy with the President for this. It is no longer news, because all of you (scholars) also know that this Programme used to run on a low budget annually, but the President graciously approved an increase.
“This is why we are able to deploy more and more scholarship beneficiaries. So, we have every good reason as the people of the Niger Delta to applaud the President for backing this Programme strongly.
“We also appreciate immensely the National Security Adviser, Mallam Nuhu Ribadu, whose supervision this office falls directly under. He has worked tirelessly with us to make sure that this Programme achieves the tangibles and milestones under the President’s Renewed Hope Agenda.
“We are able to send all of you and thousands of others to universities within and outside Nigeria because of the budgetary increase. Therefore we are building the necessary human capital for the social, economic and political development of our region and indeed the country. We are, indeed, grateful to the President.”
The PAP Administrator reiterated his advice that scholarship beneficiaries should strive hard for academic excellence and avoid distractions, while also obeying the laws of their host country and the regulations of their institutions.
Otuaro added,”So I urge you to be focused as you embark on this academic journey (to the United Kingdom), a journey that promises so much. This programme is not the end of where the Niger Delta should be, but it is a pathway to changing the narrative.
“Be driven by your modest background, the sacrifices that have gone into providing this great opportunity for you, and the huge investment in your education, to achieve academic excellence.
“Make good use of this opportunity to shine and the sky will be the limit for every one of you. When you complete your programme, return home to contribute your quota to the development of the Niger Delta and our country.”
Business & Economy
Tinubu approves $3.8bn investment in carbon market to boost sustainable infrastructure
By Abdul-Ganiyy Akanbi
In a bid to make climate action a core part of his Renewed Hope Agenda and Nigeria as an active player in the global climate economy, President Bola Tinubu has approved over $3.8 billion worth of investment in the carbon market.
Specifically, the President has endorsed the Carbon Market Framework for Nigeria with a view to unlocking billions of dollars in green investments.
The Carbon Market Framework operates under the National Council on Climate Change, NCCC, an agency established by the Climate Change Act of 2021 and domiciled in the Presidency with the President as Chairman of the Council, while the Vice President serves as the Vice Chairman.
The approval, according to the Director General of the National Council on Climate Change, NCCC, Mrs. Omotenioye Majekodunmi, has proven that Nigeria is now fully open for climate business.
Majekodunmi, who spoke with journalists in the United Arab Emirates on the sidelines of the Abu Dhabi Sustainability Week, noted that the carbon market presents opportunities across several sectors, including renewable energy, clean cooking, reforestation, climate-smart agriculture and sustainable infrastructure.
She added that the approval provides a clear regulatory and institutional structure for carbon trading in Nigeria, enabling both local and international investors to develop and finance climate-friendly projects while earning carbon credits.
“With the final approvals in place, Nigeria is officially ready to do business. We are now positioned to begin seeing real returns. The carbon market alone is valued at over $3.8 billion in potential investments annually,” she hinted.
The director general also revealed that Nigeria has already shown strong interest in carbon-related projects, stressing that since initial approvals were granted in October, the Council has received between 3,000 and 4,000 applications.
Majekodunmi also pointed out that Nigeria’s participation at the Abu Dhabi Sustainability Week is part of efforts to deepen international partnerships, particularly with the United Arab Emirates.
She said: “We see a lot of potential for collaboration in renewable energy, sustainable finance, climate technology, and carbon markets. And as such, the Abu Dhabi Sustainability Week provides the right platform to be able to deepen this relationship and this partnership to get real impact.”
The director general added that technology transfer, innovation and local capacity development remain key priorities, with plans to strengthen Nigeria’s capabilities in clean energy systems, agriculture and climate-resilient infrastructure.
Earlier in his remarks, the Minister of Environment, Malam Balarabe Abbas Lawal, stated that Nigeria’s active participation at the Abu Dhabi Sustainability Week underscores the Federal Government’s commitment to deepening international partnerships—particularly with the United Arab Emirates—across renewable energy, sustainable finance, climate technology, and carbon markets.
He further emphasized Nigeria’s focus on technology transfer, innovation, and local capacity development to strengthen clean energy systems, climate-smart agriculture, and resilient infrastructure nationwide.
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