Nigeria News (Standard)
Tinubu Commissions Abuja Expressway Project, Targets Improved Connectivity and Economic Growth
FCT Minister Wike hails on-time delivery, says government will no longer abandon inherited infrastructure projects
FCT Minister Wike hails on-time delivery, says government will no longer abandon inherited infrastructure projects
President Bola Ahmed Tinubu on Tuesday commissioned the main carriageways of the Outer Southern Expressway (OSEX) linking Ring Road 1 Junction to Ring Road 2 Junction in Abuja, North-Central Nigeria. The event, held along the OSEX-Wasa corridor, saw Senate President Godswill Akpabio representing Tinubu to formally declare the key transport route open for public use.
The project, awarded in late 2025 to CGC Nigeria Limited and delivered within eight months, features new bridges and culverts aimed at easing traffic congestion across the Federal Capital Territory (FCT). According to Tinubu, the completed road will reduce travel time, cut fuel costs for motorists and open up developing districts such as Apo and Wasa for further economic activities.
Speaking through Akpabio, President Tinubu said: “When we took office, we did not promise shortcuts but hard work. This renewed hope is tangible—you can see it and drive on it. Infrastructure is the artery of economic growth; if you want to create jobs and make life easier for everyone from market women to corporate workers, you build roads.” He noted that his administration had already commissioned previous phases of the expressway in June 2024 and 2025.
FCT Minister Nyesom Wike described the OSEX project as a symbol of the administration’s resolve to complete inherited works rather than abandon them. “Public service is about performance, not excuses. We have ensured contractors delivered on schedule,” Wike said at the ceremony. Tinubu also commended Wike for keeping contractors accountable and delivering results under the Renewed Hope agenda.
The president reiterated that his government would end the era of abandoned projects nationwide. As Abuja residents begin using the new road corridor, stakeholders expect reduced gridlock across major junctions and increased access to emerging business districts. The opposition could not be immediately reached for comment on the commissioning.
Nigeria News (Standard)
CBN to Revise Guidelines for Financial Holding Companies in Abuja
Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates
Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates
The Central Bank of Nigeria (CBN) has announced plans to review the rules governing financial holding companies, signalling a fresh move to strengthen oversight of the country’s financial sector. The development was made public in Abuja on Thursday, 11 June 2026, as part of ongoing efforts by the apex bank to align regulations with evolving industry realities.
According to the CBN, the review will focus on updating existing guidelines that oversee how financial holding companies operate within Nigeria’s banking ecosystem. These companies typically control multiple subsidiaries across banking, insurance, asset management and other financial services. The new rules are expected to address operational risks and ensure that holding structures do not undermine the stability of individual subsidiaries or the wider financial system.
The move comes amid growing concerns over compliance gaps and risk management practices among some holding companies. In recent years, stakeholders have called for clearer boundaries and stricter supervisory mechanisms to prevent abuses such as regulatory arbitrage or concentration of risk. The CBN’s planned revision is seen as an attempt to address these issues before they escalate.
While specific details of the proposed changes have not yet been disclosed, industry experts expect tighter reporting requirements and improved corporate governance standards. The apex bank said it will engage with relevant stakeholders—including commercial banks and non-bank subsidiaries—before finalising the revised framework.
The CBN is expected to release a draft guideline for public input in the coming weeks. Observers say the updated rules could have significant implications for conglomerates operating under holding structures, as well as for investors seeking clarity on sector stability.
Nigeria News (Standard)
NCAA Launches Probe Into Asaba Aircraft Roadway Landing Incident
Aviation authority begins investigation after plane lands on public road in Delta State, raises safety concerns
Aviation authority begins investigation after plane lands on public road in Delta State, raises safety concerns
The Nigerian Civil Aviation Authority (NCAA) has commenced an official investigation into the unusual landing of an aircraft on a public roadway in Asaba, Delta State, on Thursday. The incident, which occurred in the early hours of the day, has sparked concern among stakeholders about air safety protocols and enforcement in the country.
According to initial reports, the aircraft made an unscheduled landing on a major road within Asaba metropolis. Eyewitnesses described seeing the plane come to a halt amid surprised motorists and pedestrians, but there were no reported injuries or casualties as at press time. NCAA officials arrived at the scene shortly after to secure the area and begin preliminary inquiries.
This incident has drawn attention to Nigeria’s aviation safety standards, particularly regarding flight operations near populated urban areas. Airspace regulation is a recurring issue in Nigeria’s aviation sector, especially given previous incidents involving runway incursions and emergency landings. The NCAA’s response is being closely watched by both industry professionals and residents who expressed concern over possible lapses that could endanger lives.
An NCAA spokesperson confirmed that a comprehensive probe is underway to determine the circumstances leading to the event. “We are treating this as a serious safety matter and will examine all relevant factors before releasing our findings,” the spokesperson said in a written statement. No opposition or external aviation experts have issued formal comments as at Thursday evening.
The outcome of this investigation is expected to inform future policy measures aimed at preventing similar occurrences. The NCAA said its final report would be made public and promised that any parties found culpable would face appropriate sanctions under Nigerian civil aviation regulations.
Nigeria News (Standard)
Tinubu to Address Nigerians Nationwide on Democracy Day, Presidency Confirms
President’s live broadcast scheduled for Friday amid public calls for reforms and remembrance of June 12 significance
President’s live broadcast scheduled for Friday amid public calls for reforms and remembrance of June 12 significance
President Bola Tinubu will address the nation in a live broadcast on Friday, marking this year’s Democracy Day celebrations across Nigeria. The announcement comes as the country prepares to commemorate June 12, a day recognised for its pivotal role in Nigeria’s democratic history and a public holiday nationwide.
According to the presidency, the address will be broadcast from Abuja and is expected to focus on the state of the nation, ongoing reforms, and government’s commitment to strengthening democratic institutions. This yearly presidential speech has become tradition since June 12 was officially designated as Democracy Day in honour of the annulled 1993 elections widely considered Nigeria’s freest poll.
Democracy Day serves as a reminder of the struggles that led to civilian rule after years of military dictatorship. Many Nigerians are looking forward to President Tinubu’s message against a backdrop of economic hardship, security challenges and heightened expectations for reforms promised by his administration. Civil society groups and opposition parties have already called on government to use the occasion to recommit to electoral transparency, justice sector improvements and policies addressing poverty and youth unemployment.
While details of Tinubu’s planned remarks have not been released as at Thursday evening, sources within Aso Rock say the speech will touch on national unity and highlight progress achieved since his assumption of office. The main opposition parties—PDP and LP—have urged government to back up rhetoric with concrete actions that improve livelihoods and protect civil liberties.
The president’s speech will be aired on national television and radio stations from 7:00 am. Nigerians are expected to participate in various commemorative activities across states as part of the Democracy Day programme.
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