Author: Vardiafrica

Africa is set to launch its own credit ratings agency next month, in a move aimed at providing an alternative to the major international ratings firms. Paul Sikazwe, Technical Adviser on Debt at the African Union Commission, says the African credit ratings agency will be launched in Mauritius on October 5. Speaking at a conference on debt and development in Nairobi, Kenya, organised by campaign group Afrodad, Sikazwe described the launch as a major step towards reforming the international financial architecture. The African Peer Review Mechanism, or APRM, has been working for several years to establish an agency that will assess the…

Federal Government has launched the $1 billion HOPE-SP programme to move vulnerable Nigerians from temporary palliatives to sustainable empowerment and self reliance. The initiative, launched alongside four other programmes, are expected to improve how vulnerable households are identified, supported and tracked towards economic independence. First Lady Senator Oluremi Tinubu said the programmes would strengthen social protection and provide targeted assistance as economic reforms take effect. Humanitarian Affairs Minister Dr Bernard Doro said the new system would reduce duplication by unifying government databases and tracking beneficiaries through a “poverty graduation pathway.” Borno State Governor, Professor Babagana Zulum, also commended the Federal…

President Bola Ahmed Tinubu has urged the management of Nigeria Liquefied Natural Gas (NLNG) to do all within its powers to ensure Nigeria derives maximum benefits from its gas reserves rather than allowing them to be flared. The President said this Wednesday at the State House, where he received members of the NLNG Board led by its Managing Director and Chief Executive Officer, Engineer Adeleye Falade. “I am inspired to understand that you are not limiting yourself to the gradual objective of upgrading. “My major concern is the domestic utilisation, where you must be able to take out the flaring…

Meta has agreed to an $18 billion settlement with 52 US attorneys general over claims that its platforms harmed children. The lawsuit was instituted by 29 US states, the BBC reported. Speaking on the agreement in a statement on Wednesday, the social media firm said the deal would lead to stricter measures to protect Facebook and Instagram users. The measures, according to the tech company, include stricter limits on teenagers’ screen time, overnight access, school-hour notifications, and new parental controls. While still subject to judicial approval, Meta said the measures would automatically apply to users under 18 years in “participating United States and territories”.…

The Niger Delta Development Commission, NDDC, has called for increased investment in agriculture and other sustainable sectors to secure the future of the Niger Delta region. Speaking on Resource Control during the Nigeria Bar Association’s 66th Annual General Conference in Port Harcourt, the NDDC Managing Director, Dr Samuel Ogbuku, stated that while oil had been a blessing to the nation and had contributed significantly to development, the region could not afford to remain dependent on it indefinitely. He stressed the need for stakeholders to ask fundamental questions about the region’s future beyond oil, particularly by identifying areas where Niger Deltans…

The Executive Chairman of the Economic and Financial Crimes Commission, Mr. Ola Olukoyede has called on whistleblowers across the world to offer useful and actionable intelligence to the Commission on monetary and non-monetary assets stashed abroad by corrupt Nigerians. He made this call on Wednesday, August 26, 2026 while delivering a lecture at the Cambridge International Symposium on Economic Crime in the United Kingdom. According to him, any whistleblower that is privy to where Nigerian assets are kept abroad could come forward to assist the country in recovering them. This initiative, he said, would come with juicy rewards. “I welcome…

The Niger Delta Development Commission, NDDC, has declared its support and commitment to the three-year strategic programme to transform the historic Bonny Kingdom in Rivers State into a globally competitive tourism destination. Addressing stakeholders in the tourism industry during the Bonny Island Tourism and Investment Summit, Bonny Island, the NDDC Managing Director, Dr Samuel Ogbuku, said the “Discover Bonny and Orange Economy” initiative reflected a bold and strategic approach to the much-needed economic transformation through enterprise development and investment promotion. The NDDC boss, represented by the Commission’s Director of Commercial and Industrial Development, Mrs Lyna Okara, noted that “tourism is…

Nigeria’s healthcare and emergency response capacity is set for a boost as Israel has donated a first batch of ambulances, medical equipment and wheelchairs to the country in what officials described as a demonstration of the growing humanitarian and health partnership between the two nations. The consignment was handed over at the Port of Ashdod, Israel, with Nigeria’s newly appointed Ambassador to Israel, Ambassador Nkechi Linda Ufochukwu, receiving the items on behalf of Nigeria. The development comes barely three weeks after Ufochukwu formally assumed her diplomatic assignment in Israel, following the presentation of her Letters of Credence to Israeli President…

The Niger Delta Development Commission, NDDC, has inaugurated a Committee for Negotiation and Review of the Staff Terms and Conditions of Service as part of its efforts to improve the welfare of its workforce and enhance efficient service delivery in the Niger Delta region. Speaking during the inauguration of the committee at the Commission’s headquarters in Port Harcourt, the Executive Director, Finance and Administration, Alabo Boma Iyaye, congratulated members of the committee on their selection by Management and the Staff Union to undertake the important task of reviewing the terms and conditions of service of NDDC employees. He noted that…

Tanzania’s Vice-President Emmanuel Nchimbi has announced he is resigning weeks after it was reported that he had fallen out with President Samia Suluhu Hassan. The 54-year-old shared his brief resignation letter on his Instagram account, saying he wanted to respect the president’s wishes. Sources in his office and the presidency confirmed the move. Nchimbi said he would retire from public life at the end of next week – less than 10 months after being sworn in and making him the first vice-president to step down in the history of the East African nation. He was Samia’s running mate in last…