Headlines
Buhari saddened as Nigeria loses $26.3bn annually to piracy, sea robbery, others
President Muhammadu Buhari has expressed sadness over Nigeria’s loss of about 26.3 billion dollars annually to various forms of criminality particularly piracy and sea robbery.
Mr Buhari made the expression while performing the inauguration of Falcon Eye Project, Nigerian Navy’s Strategic Maritime Surveillance System, on Tuesday at the Naval Headquarters, Abuja.
Represented by Vice President Yemi Osinbajo, Mr Buhari said that securing Nigeria’s shipping lanes was crucial to the nation’s economic interests.
“Why is this project so important to us as a nation?
“The maritime industry occupies a prominent position in the matrix of our vital economic interests and it encompasses activities ranging from fishing and resource exploration to marine research and shipping among other endeavours.
“Of all these activities, shipping stands out as a critical link in Nigeria’s international trade engagements because it is the cheapest and most efficient means of moving large volumes of goods.
“Given our economic aspirations and our commitment to international trade, ensuring the security of shipping lanes within, and proximate to our waters, is in our national interest.’’
According to him, Nigeria’s hydrocarbon resources which are largely domiciled in our maritime environment remain the mainstay of Nigeria’s economy.
“It accounts for 55 per cent of our GDP, 95 per cent of our export earnings, and about 70 per cent of government revenue.
The president said that in recent years, some threats within Nigeria’s maritime environment had taken more harmful dimensions to the economy and even the safety of citizens and commercial entities which used the maritime domain.
“These include, piracy, armed attacks on ships, kidnapping for ransom, crude oil theft, smuggling, as well as Illegal Unregulated and Unreported Fishing (IUU).
“It is estimated that Nigeria loses about 26.3 billion dollars annually to various forms of criminality particularly piracy and sea robbery.
“On account of the escalated risks in some of our maritime areas insurance premiums for commercial vessels coming to these areas have risen sharply making maritime trade an unattractive proposition.
“This underscores the need to enhance our maritime security architecture; consequently, a critical contribution of the Falcon Eye System will be the provision of actionable intelligence for curbing maritime threats to our economy.’’
Mr Buhari said that his administration had demonstrated a clear commitment to building the capacity of Nigeria’s strategic institutions to secure its coastal waters and the precincts of its maritime neighbourhood.
He said that on June 24, 2019, he assented to the Suppression of Piracy and other Maritime Offences Bill.
“By this Act, Nigeria became the first country in the West and Central African Sub-Regions to promulgate a stand-alone law against piracy, which is an important international requirement, set by the International Maritime Organisation as part of measures to guarantee secure global shipping.
“The Act provides the much-needed legal and institutional framework to improve maritime security and ensure safe and secure shipping in Nigerian waters.
“Last year, we commenced prosecution and secured our first convictions under this law,’’ he said.
Earlier, Chief of Naval Staff, Rear Admiral Awwal Gambo, said that the president’s presence at the event reaffirmed his unflinching support to the Nigerian Navy’s endeavour at ensuring a secure maritime environment for legitimate economic activities.
He said the project arose out of the need for national maritime security architecture that would leverage modern technology to enhance the safeguard of the immense hydrocarbon, living and other mineral resources in the nation’s maritime domain.
In his remarks, National Security Adviser Babagana Monguno said the project was borne out of the necessity to combat the myriad of security problems within the maritime sector.
He said that the contract was signed in 2014 and designed to provide Nigeria with effective surveillance capability of its entire maritime domain.
NAN
Headlines
Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.
The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.
One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”
Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.
Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.
A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”
Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.
The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.
The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.
Headlines
NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.
Headlines
Benue IDPs block highway, demand return to ancestral homes

Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.
The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.
The protest caused disruption, leaving hundreds of motorists and passengers stranded.
Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.
“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.
Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.
Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.
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