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Lagos-Calabar Coastal Highway Wins Global Recognition

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The financing arrangement for Nigeria’s flagship Lagos-Calabar Coastal Highway project has received international recognition at the 2026 Islamic Development Bank (IsDB) Group Annual Meetings in Baku, Azerbaijan, underscoring growing global confidence in the country’s infrastructure development agenda.
First Abu Dhabi Bank (FAB) emerged winner of the ICIEC Most Impactful Project of the Year Award for its role in securing a $626 million Murabaha financing facility for the Lagos-Calabar Coastal Highway Development Project.
The award was presented by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the IsDB Group and the world’s only Shariah-compliant multilateral insurer.
According to ICIEC, the financing package was supported by its Non-Honouring of Sovereign Financial Obligations (NHSFO) insurance policy, which covered 95 per cent of the financing provided to Nigeria’s Federal Ministry of Finance.
The risk mitigation arrangement helped mobilise long-term capital for one of Nigeria’s most ambitious infrastructure projects, expected to significantly improve transportation, facilitate trade, enhance regional connectivity, and stimulate economic growth along the country’s southern corridor.
The recognition comes as the administration of President Bola Ahmed Tinubu continues to push major infrastructure investments aimed at boosting economic productivity and attracting foreign capital.
Speaking on the significance of the award, ICIEC Chief Executive Officer, Dr. Khalid Khalafalla, described the Lagos-Calabar financing transaction as a landmark achievement that demonstrates the power of innovative Islamic finance and strategic partnerships in supporting development.
“ICIEC is proud to honour First Abu Dhabi Bank, Standard Chartered, and Agrobank for two landmark transactions that demonstrate the impact of Shariah-compliant risk mitigation,” Khalafalla said.
“These awards reflect how strong partnerships can mobilise capital, enable strategic infrastructure, expand access to trade finance, and deliver meaningful development impact across our member states.”
Khalafalla noted that ICIEC’s support for the Lagos-Calabar Coastal Highway highlighted its growing role in de-risking investments and encouraging private-sector participation in large-scale infrastructure projects across member countries.
The event also recognised Standard Chartered Bank, which won the Most Innovative Trade Development Initiative of the Year Award for a €160 million Murabaha facility provided to Agrobank in Uzbekistan under ICIEC’s insurance cover.
The transaction marked Uzbekistan’s first Murabaha financing deal and established a Shariah-compliant framework for future trade and liquidity financing in the country.
Beyond the awards ceremony, policymakers, development finance experts, and representatives of multilateral institutions from Africa, Asia, and the Middle East gathered to discuss strategies for deepening regional integration and fostering sustainable economic growth.
During a high-level forum themed “Regional Integration for Sustainable Prosperity,” speakers emphasised the importance of cross-border infrastructure, trade facilitation, regulatory harmonisation, digital transformation, and stronger institutional cooperation as key drivers of economic resilience.
Experts from the IsDB, the World Bank, the African Development Bank (AfDB), and the Asian Development Bank (ADB) highlighted the need for stronger regional partnerships to address common challenges, including supply-chain disruptions, economic uncertainty, and climate-related risks.
Participants also examined the findings of the IsDB Regional Integration Index, which provides member countries with analytical tools to guide policy decisions, prioritise investments, and strengthen regional cooperation frameworks.
ICIEC disclosed that it has insured more than $138 billion in trade and investment transactions since commencing operations in 1994. The corporation currently serves 51 member states and maintains one of the highest credit ratings in the political risk insurance industry, including an Aa3 rating from Moody’s and an AA- rating from S&P Global Ratings.
The international recognition of the Lagos-Calabar Coastal Highway financing is expected to further strengthen investor confidence in Nigeria’s infrastructure sector and reinforce efforts to attract sustainable financing for critical development projects.

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Poor Lighting, Sanitation Frustrate Work At First Niger Bridge

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…As Onitsha South Mayor Empowers Workers

By Okey Maduforo, Awka

Maintenance and rehabilitation works at the recently closed First Niger Bridge are being hampered by poor lighting during night shifts and inadequate sanitary facilities at the site.

Recall that before the closure of the bridge, the Minister of Works, Engr. Dave Umahi, had disclosed that efforts would be made to carry out some of the rehabilitation works at night.

However, some of the workers at the site said poor lighting was affecting effective monitoring of activities on the bridge, while the poor sanitary condition of the area was also posing a threat to their health.

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The workers made the complaints during a working visit to the bridge by the Mayor of Onitsha South Local Government Area, Chief Emeka Orji.

Orji, who was accompanied by the Secretary of the Local Government, Barr. Paul Onuachalla, and executives of the Fegge Community Landlords/Tenants Welfare Association, led by its Chairman, Chief Nnamdi Onugha, provided cooked meals and packs of bottled water to the personnel and workers at the site.

Speaking after the visit, Orji said the gesture was aimed at supporting the workers and showing solidarity with the Federal Government’s rehabilitation efforts on the bridge.

He said, “To support the workers and give them a sense of belonging, that is why we came to appreciate them. We will continue doing so from time to time as part of our Corporate Social Responsibility.”

The Mayor also disclosed that the council had provided facilities, including mobile toilets and water tanks, while arrangements were being made for water tankers to supply water to the tanks.

Orji further stressed the importance of the military presence in Onitsha South, noting that the personnel would contribute to security, rapid response and protection of the bridge, Onitsha South and parts of Ogbaru Local Government Area.

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He added that the council would continue to strengthen its collaboration with security agencies to ensure maximum security across Onitsha South Local Government Area.

Earlier, after inspecting the environment with the Mayor, the Officer in Charge, who pleaded anonymity, identified poor lighting at the bridge at night as one of the major challenges confronting the personnel.

According to him, the situation makes it difficult to effectively monitor activities around the bridge, particularly during night shifts.

He also complained about the poor sanitary condition of the under-bridge environment where the personnel camp, saying they had to clean up the area themselves upon arrival.

The officer further appealed for improved accommodation and food support for the personnel.

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He, however, commended the Mayor for the visit and assistance, saying the gesture made the workers feel appreciated.

“We feel loved and appreciated. We are happy seeing you around,” he said.

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Dangote Reveals He Bought First Private Jet at 22

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Africa’s richest industrialist, Aliko Dangote, has revealed that he bought his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
Reflecting on his business journey, the billionaire said he had enjoyed travelling by private jet over the years but was now comfortable using commercial flights.
He also urged wealthy Nigerians to channel more of their resources into productive investments rather than luxury assets.
Dangote particularly appealed to affluent Nigerians who spend huge sums on private aircraft to consider investing such wealth in industries and businesses that could contribute to Nigeria’s economic growth.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that directing private wealth towards productive ventures would help strengthen the economy, create jobs and provide greater opportunities for national development.

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Niger Delta Chamber Breaks Silence on Alleged Summit Trademark Dispute

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The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has rejected claims that it appropriated or “stole” the idea of Niger Delta Economic and Investment Summit from another organisation whose application was reportedly pending before the Federal Ministry of Trade.

NDCCITMA considers the allegation misleading and wishes to set the record straight.

The concept of Niger Delta Economic and Investment Summit is a broad and widely recognised platform used globally to bring together government, the private sector, investors, businesses, development partners and other stakeholders to deliberate on economic growth and development. The use of the term “Economic Summit” does not, in itself, establish exclusive ownership of the concept by any individual or organisation.

More importantly, the chronology of events does not support the allegation being made against NDCCITMA.

While the said application was reportedly still pending before the Ministry of Trade as at September 2025, NDCCITMA had already gone through the appropriate processes and received approval from the Ministry of Trade in August 2025.

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NDCCITMA did not rely on, copy, or appropriate the pending application of any other party in arriving at its name or identity

It is also important to distinguish between a concept and legally protected intellectual property, such as a registered trademark, proprietary material or other enforceable intellectual property right.

NDCCITMA remains committed to conducting its activities in accordance with applicable laws and regulatory requirements.Most importantly, in Suit No: FHC/PHC/CS/57/2026 filed on same subject matter in Portharcourt by the petitioner, the learned Judge had restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA. NDCCITMA will continue respect the rule of law

We therefore urge the public, stakeholders, the media to disregard any narrative unless such claims are supported by verifiable facts and relevant legal documentation.

NDCCITMA firmly rejects the allegation and maintains that its activities and identity were developed and pursued independently and through the appropriate regulatory channels.

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The organisation remains focused on its mandate of promoting commerce, industry, trade, agriculture, investment and sustainable economic development across the Niger Delta region.

Signed:
Management
Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA)

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Commissioner Dies Suddenly at Abuja Hospital

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The Cross River State Commissioner for Power and Renewable Energy, Prince Eka Williams Abang, has died at a hospital in Abuja.
Williams reportedly died suddenly on Saturday, September 12, 2026, while receiving medical treatment.
His death was announced on Sunday by his brother, Nkang William, who expressed shock over the sudden loss.
The deceased was described by family members and associates as a dedicated public servant whose death had left a significant void.
A former councillor representing Abo Ward in Boki Local Government Area, Pius Kejuo Osang, said he was still struggling to understand the development.

Late Abang

“I don’t understand, I was with him on Tuesday, I slept in his hotel,” Osang said.
Michael Gabriel Jr., Executive Media Assistant to Senator John Owan-Enoh, Minister of State for Industry, also described Williams as “a dedicated public servant and a good man.”
He said Ikom Local Government Area had lost a committed public servant, adding that Williams’ life of service, humility and impact would remain in the memories of those he touched.
The commissioner’s death has thrown Cross River’s political and public service circles into mourning, with condolences pouring in for his family, colleagues and associates.

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Niger Delta Chambers Unveils Plan to Transform Region Into Investment Hub

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The Board Chairman of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, NDCCITMA, Ambassador Idaere Ogan, has identified the Niger Delta Development Commission, NDDC, and the governments of the nine Niger Delta states as development partners in building a sustainable regional investment ecosystem.

Addressing newsmen at the Obi Wali Cultural Centre in Port Harcourt, Ogan reaffirmed NDCCITMA’s commitment to successfully hosting the Niger Delta Economic and Investment Summit from September 15 to 17 in the Rivers State capital.

The NDCCITMA Chairman said the Summit was a strategic, private-sector-led platform to mobilise investment and unlock the Niger Delta region’s economic potential, anchored on the theme: “Driving Investment, Innovation and Industrial Growth in the Niger Delta.”

He stated: “Our vision is to bring together the nine Niger Delta states, the Federal Government, the Niger Delta Development Commission, organised private sector, domestic and international investors, development finance institutions, multilateral organisations, financial institutions, project developers and other strategic partners around a common objective: To transform the Niger Delta from a predominantly resource-dependent economy into a diversified, productive, industrialised and globally competitive regional economy.”

According to Ogan, the Summit was designed not merely as another conference, but as an investment and transaction platform, stating: “I dare say that the region possesses opportunities far beyond crude oil.

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“From gas and petrochemicals to agriculture and agro-processing; maritime and blue economy; manufacturing; aviation and transportation; renewable energy; tourism; digital economy; logistics; infrastructure and financial services, the Niger Delta possesses the resources and market opportunities required to become one of Africa’s leading investment destinations.”

We intend to showcase strategic investment opportunities capable of transforming the regional economy, including agro-industrial and oil-palm value chains, gas utilisation and gas-based industries, regional transportation and aviation, maritime infrastructure, industrial and logistics hubs, renewable energy, manufacturing, skills development, digital infrastructure and other high-impact projects.

The Counsel to the Legal Representative of NDCCITMA, Mr Sammie Somiari, SAN, affirmed that the Summit organiser was committed to conducting its activities in accordance with applicable laws and regulatory requirements.

He noted that in a suit filed by the founder of NDEIS, Kenule Nwiya Jnr, over an alleged trademark infringement, the court restrained the plaintiff from further interfering with the Summit being planned by the NDCCITMA.

Somiari assured that the Summit would proceed as planned, as there was no legal encumbrance to the economic and investment platform.

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Also speaking, the NDDC Director of Commercial and Industrial Development, Mrs Lyna Okara, observed that the Summit would promote stronger economic integration among the nine Niger Delta states.

She noted that the investment forum would produce tangible outcomes: investment commitments, project partnerships, financing opportunities, policy recommendations, and clearly defined implementation frameworks.

Seledi Thompson-Wakama

Director, Corporate Affairs

September 12, 2026

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