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NACCIMA President Calls for Economic Sovereignty at Vanguard Economic Discourse

The current U.S. administration’s focus on isolationism and trade wars has led to a reevaluation of America’s long-standing alliances, leaving many nations, including Nigeria, to grapple with the complexities of a shifting world order.

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1 year ago

April 9, 2025

OCHEFA

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“For Nigeria, these developments underscore the necessity of prioritizing economic sovereignty and a shift to a homegrown democracy that is both viable and affordable.

We need a political structure that can withstand external pressures and remain resilient in the face of global shifts.”

”Mr Dele Oye, the President of the Nigerian Association of Chambers of Commerce Industries, Mines and Agriculture (NACCIMA), said today, during the Vanguard 2025 Economic Discourse, held in Lagos.

Oye, who is the Chairman of the event , said that the current economic situation of Nigeria has brought the country to a crossroad, where strategy is required for success.said it is possible for Nigeria to reshape its economic challenges and turned the adversity to opportunity.

He said : “Nigeria must succeed and be strategic; we are at crossroads where we can reshape our current destiny, where adversity can give rise to opportunity.”

Oye had earlier offered insights to Vanguard on Nigeria’s economic outlook 2025.

His words: “As we navigate today’s economic landscape, we face significant headwinds, including persistent inflation, geopolitical tensions, and disruptions in global supply chains.

However, we also have promising tailwinds: advancements in technology, emerging trade partnerships, and a vibrant, entrepreneurial youth.

The balance between these challenges and opportunities will shape Nigeria’s future, highlighting the need for thoughtful policies that harness our potential while addressing the risks ahead.”

He stated: “We find ourselves at a pivotal moment in history, with profound global changes redefining relationships and power dynamics.

The resurgence of Russia from a backdrop of U.S. policy shifts reminds us of the importance of adaptability in diplomacy.

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TCN improves Power Supply to Apapa corridors by additional 208MW

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Published

1 day ago

August 18, 2026

OCHEFA

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The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Sule Ahmed Abdulaziz , says from now Apapa Causeway, Ijora, Amukoko, Ajegunle, Apapa Wharf, Tin Can Island and other major commercial areas, will be having improved power supply.

Abdulaziz made the declaration on Monday during the commission of Ijora and Apapa Road transmission substations in Lagos by additional 208MW .

The project is aimed at improving the volume and reliability of electricity available to distribution companies for onward supply to homes, businesses and industries.

Abdulaziz said that the projects, sponsored by the Japan International Cooperation Agency (JICA) and the World Bank respectively, in partnership with TCN, underscored the Federal Government’s commitment to modernising the transmission network and improving grid stability.

He commended the Ministry of Power, JICA, the Government of Japan, Lagos State Government and other stakeholders for supporting the projects, while appealing for additional grant assistance to upgrade other critical sections of the transmission network.

Speaking at the commissioning, Minister of Power, Mr. Joseph Tegbe, said that the projects were part of the Federal Government’s efforts to address longstanding transmission constraints and infrastructure decay that have limited the country’s ability to fully utilise available generation.

The upgrades increased the Ijora substation’s capacity by 112MW, from 90MVA to 230MVA, following the installation of two new 100MVA transformers.

At Apapa Road, a new Gas Insulated Substation (GIS) added another 96MW, raising the facility’s capacity from 60MVA to 180MVA.

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Business

CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA

Published

1 day ago

August 18, 2026

OCHEFA

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•Mrs Hakama Sidi Ali.

The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).

The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.

The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.