Business
Sterling Bank launches N2bn private university scholarships for Nigerian youth
…..Unveiled on Democracy Day, the initiative titled Beyond Education, represents a decisive step towards building the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.
Sterling Bank, has announced an over two billion naira (N2 billion) commitment for fully-funded private university scholarships for young Nigerians.
Unveiled on Democracy Day, the initiative titled Beyond Education, represents a decisive step towards building the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.
This is one of the largest private sector investments ever made in a single Nigerian tertiary institution.
It extends Sterling’s longstanding commitment to the HEART sectors: Health, Education, Agriculture, Renewable Energy, and Transportation.
The bank has deployed over half a trillion naira in financing and development programmes across these critical areas.
“Progress is not a spectator sport,” said Abubakar Suleiman, Chief Executive of Sterling Bank.
“While others talk about Nigeria’s potential, we are actively investing in it. These scholarships are direct investments in the architects of our future.
We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.
”The Sterling Beyond Education programme will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health.
It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.
Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.
“This is what inclusive investment looks like,” said Obinna Ukachukwu, Growth Executive leading the Retail & Consumer Banking Directorate at Sterling Bank.
“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.
”The pilot programme is in partnership with Miva University, founded by renowned tech entrepreneur Sim Shagaya.
Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the digital economy.
The programme also reflects Sterling’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.
With deep investments in digitised healthcare, school financing, agricultural cooperatives, solar energy, and low-cost transport systems, Sterling is building pathways to inclusive prosperity.
“We’re moving beyond charity,” Mr Suleiman said. “This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country.”
Nominations are now open at www.sterling.ng/FUTURE. As Africa’s youth population continues to grow, initiatives like Beyond Education may point to a new blueprint for private sector leadership, one where impact is measured not just in profit, but in people empowered.
Business
Obi Sees Something Good in Tinubu’s “Naira Float Policy ‘
The policy was introduced by the Tinubu administration in June 2023 as part of wider foreign exchange reforms.
The presidential candidate of the National Democratic Congress (NDC) for the 2027 election, Peter Obi, has said he would retain President Bola Ahmed Tinubu’s naira float policy if elected president.
The policy was introduced by the Tinubu administration in June 2023 as part of wider foreign exchange reforms.
The Central Bank of Nigeria removed restrictions at the Investors and Exporters foreign exchange window, allowing the naira to trade more freely against the dollar and other major currencies
Obi made the disclosure in a public statement on air, emphasising that his administration would seek to strengthen the currency by prioritising productivity and increasing economic output rather than reversing the floating exchange-rate framework.
Asked to identify one policy of the Tinubu administration he would keep if elected, Obi said, “There’s one – the floating of the Naira. I’m not going to defend it. But I’m going to put productivity to make it more valuable to the people.”
His position means he would maintain the floating exchange-rate system while seeking to change the economic conditions that determine the strength and value of the naira.
Business
Dangote Refinery Buys 16m Barrels Of Nigerian Crude For October
The October supply is equivalent to about 520,000 barrels per day, representing most of the refinery’s 700,000 barrels-per-day processing capacity.
Dangote Refinery has bought at least 16 million barrels of Nigerian crude oil for delivery in October.
Reuters reported that the 16 million barrels comprise monthly crude allocations from the Nigerian National Petroleum Company and additional volumes purchased through a tender.
The October supply is equivalent to about 520,000 barrels per day, representing most of the refinery’s 700,000 barrels-per-day processing capacity.
The increased crude purchases highlight the refinery’s rising demand for feedstock as it expands operations and moves closer to operating at a larger share of its installed capacity.
Business
Brent crude slid to around $106 per barrel
Top US officials reportedly warned President Donald Trump that the war could continue through the remainder of his term, which ends in January 2029.
Brent crude slid to around $106 per barrel on Friday in a likely technical correction, but was still set to end the week sharply higher as the escalating conflict between the US and Iran fueled concerns over prolonged disruptions to global energy supplies.
Top US officials reportedly warned President Donald Trump that the war could continue through the remainder of his term, which ends in January 2029.
Meanwhile, Iranian leaders are reportedly determined to continue fighting despite mounting economic costs, viewing the conflict as an existential threat.
They also claim that Tehran has managed to rebuild its missile capabilities and could intensify attacks on US and Gulf assets if Washington escalates its own strikes.
Fighting has intensified over the past two weeks, with the US targeting Iranian oil tankers while Iran launched missiles at US warships and tankers in the Persian Gulf, as well as American assets in neighboring countries.
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