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Nigeria, EU set to convene 10th Business Forum in Lagos
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The European Union and the Federal Government of Nigeria have announced plans to convene the 10th Nigeria–EU Business Forum in Lagos on 25 June 2026, bringing together senior policymakers, investors, and business leaders to deepen trade and investment ties.
Now in its tenth edition, the Forum has evolved into a key platform for advancing economic cooperation between Nigeria and Europe, with a focus on translating dialogue into concrete partnerships and investment outcomes.
The 2026 edition is expected to centre on mobilising private capital, strengthening value chains, and expanding opportunities for businesses operating across both markets. It will feature high-level discussions, targeted business-to-business engagements, and a curated exhibition showcasing investment-ready solutions.
Speaking ahead of the Forum, Gautier Mignot, Ambassador of the European Union to Nigeria and ECOWAS, said the milestone edition reflects the growing depth of the partnership.
“The Nigeria–EU Business Forum has become a platform where ambition meets execution. This tenth edition underscores our shared commitment to mobilising investment at scale and delivering sustainable economic impact,” he said.
On his side, Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, described the Forum as a strategic opportunity to attract investment aligned with Nigeria’s development priorities.
“Nigeria remains committed to creating the conditions for sustainable economic growth and investment. The Forum provides an important platform for engaging with investors and partners, strengthening economic cooperation, and advancing initiatives that support enterprise, competitiveness, and long-term prosperity,” he said
Organisers say the Forum will build on the outcomes of previous editions, with a strong emphasis on facilitating partnerships and strengthening investment pipelines. It is also expected to provide a space for dialogue on policy, financing, and innovation, reinforcing Nigeria’s position as a leading investment destination in Africa.
News
Umahi Threatens To Delist Road Contractors Over Non-Compliance
The Minister of Works, Engr. David Umahi, has threatened to delist contractors who fail to comply with federal government construction guidelines on road projects across the country.
He also warned that ministry officials who fail to enforce compliance would be removed or redeployed.
Umahi issued the warning on Saturday during an inspection of the Mararaba–Keffi road project.
He said the federal government would begin a cleanup of non-performing contractors from next week.
“From next week, we are going to weed out contractors—whether indigenous or expatriate—who are not committed. Some of them have up to 25 jobs awarded before we came on board. If you are not ready to invest while awaiting federal government payments, then you are not part of the progress of this country,” he said.
He added that contractors who only depend on advance payments before mobilising to site would be removed, noting that some had benefitted from government jobs for over 30 years without adequate performance.
Umahi, however, commended JRB Construction Company for its quality of work and commitment to road infrastructure development despite funding challenges.
“I declare JRB as the best indigenous contractor because of the quality of work he does, the amount of equipment he has, and his partnership with the Federal Government,” he said.
He explained that the contractor was selected for intervention works when funding delays slowed down the dual carriageway project and immediately mobilised without receiving advance payment.
“Where we are facing challenges is identifying true partners in progress. JRB, I commend you,” he added.
Also speaking, the chairman of the House Committee on Works, Hon. Akintola Alabi, criticised some foreign contractors for collecting mobilisation fees without moving to site.
He commended JRB for demonstrating that Nigerian contractors can deliver quality infrastructure projects.
“There are some contractors from abroad who collect mobilisation and go back without working, then return for variations. But you are different. You continue working because you understand this is your country,” he said.
He further praised the contractor for his consistency and contribution to national infrastructure development.
News
Households groan as cooking gas price hits N2,400/kg
Nigerians in major cities are groaning under the rising cost of Liquefied Petroleum Gas, commonly called cooking gas, as the price has surged to as high as N2,400 per kilogramme in some retail outlets.
The sharp increase has worsened the hardship faced by households already battling soaring food prices and other living costs, pushing many to revert to less environmentally friendly alternatives such as firewood and charcoal.
Sunday PUNCH observed that while some filling stations sold the product at between N1,650 and N1,900 per kilogramme, neighbourhood retailers and black market operators charged significantly higher, up to N2,400 per kg depending on the location.
A housewife in Ibadan, Mrs Deborah Akintola, expressed frustration over the relentless hikes.
“Last week, I bought gas at Iyana Church Gasland at N1,600 per kilogramme. Now I hear it is N1,900 and even over N2,000 in some shops. In May, it was N1,000. This increase is just too much. Everything, including foodstuffs, is expensive,” she said.
At Bovas Filling Station in the Gbagi area of Ibadan, cooking gas was sold at N1,650 per kilogramme on Thursday.
A mother of two, Mary Dada, lamented the frequent fluctuations.
“I don’t understand why the price keeps going up. Every month, there is one increase or another. It’s just annoying,” she said.
In Lagos, residents shared similar complaints. Ibrahim Ozigis, who bought gas at Enyo Filling Station, Iju-Ishaga, said he paid N1,650 per kg this month compared to N1,100 in May.
Desire Billy, a resident of Isheri-Osun, said the rising cost was forcing many households to change their cooking habits.
“It has got to a point where you buy gas and cannot use it to cook beans. Last week, I bought it at N1,500 at AP Filling Station, whereas in February I bought it for N1,200. It keeps increasing,” she lamented.
In Ilorin, Kwara State, some residents have switched to charcoal.
Kemisola Nitta said some dealers had even suspended sales due to unstable prices.
“We have stopped using gas and opted for charcoal. I think it is cheaper,” she said.
Why prices remain high
Despite a significant increase in domestic production of LPG and reduced reliance on imports, prices have continued to climb.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that local production from refineries and gas processing plants accounted for the bulk of supply between April 2025 and April 2026.
However, this has not translated into lower costs for consumers.
The Nigerian Association of Liquefied Petroleum Gas Marketers raised the alarm over erratic supply and rising costs, warning of possible scarcity.
In a statement signed by its National President, Edu Inyang, and Executive Secretary, Bassey Essien, the association said marketers now pay between N25.2 million and N26.2 million for 20 metric tonnes of the product.
“The citizens of Nigeria now have to buy cooking gas, which should be a social commodity, at a prohibitive cost of over N1,500 per kilogramme,” the association stated.
NALPGAM warned that the situation could trigger public unrest and undermine years of government efforts to promote clean cooking energy through increased LPG penetration.
A gas reseller in Ibadan, Opeyemi Olaire, attributed the high retail prices to transportation and operating costs.
“I sell at N2,400 per kilogramme. If I buy from Gasland at N1,700 and use an okada to transport it for N600, how much do you want me to sell it for? The government should look for a way to bring the price down,” she said.
The persistent rise in cooking gas prices is compounding the cost-of-living crisis, with many low-income families and small businesses struggling to cope.
News
Minister hails First Lady for empowering 1,000 petty traders in Abuja
The Minister of State, Federal Capital Territory (FCT), Mariya Mahmoud, has applauded the First Lady, Senator Oluremi Tinubu, for her steadfast commitment to empowering persons with disabilities and advancing social inclusion.
Speaking at the official empowerment of 1,000 petty traders in Karon Majigi in Abuja Municipal Area Council on Saturday, Mahmoud described the initiative as a practical demonstration of the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritizes the welfare, inclusion, and economic empowerment of all Nigerians.
The empowerment programme, organized by the Office of the First Lady under the Renewed Hope Initiative (RHI), provided financial support and business tools to 1,000 petty traders drawn from across the Federal Capital Territory.
The intervention is part of the First Lady’s ongoing commitment to promoting economic inclusion, alleviating poverty, and strengthening the livelihoods of women, vulnerable groups, and small-scale entrepreneurs, in line with the Renewed Hope Agenda of the Tinubu administration.
On the occasion, the Minister noted that the programme reflects the Federal Government’s determination to ensure that persons living with disabilities are actively integrated into the nation’s socio-economic development and provided with opportunities to achieve self-reliance.
She commended Senator Oluremi Tinubu for her compassion, visionary leadership, and unwavering dedication to humanitarian causes, stating that her interventions continue to restore hope, dignity, and economic opportunities to vulnerable citizens across the country.
According to her, “empowering persons with disabilities is not merely a charitable gesture but a strategic investment in human capital and sustainable national development.”
According to a statement issued on Saturday by her Special Assistant, (SA) Media, Austin Elemue, the minister reaffirmed the commitment of the Federal Capital Territory Administration to promoting policies and programmes that guarantee accessibility, equal opportunities, and full participation of persons with disabilities in governance and development.
“The FCT Administration will continue to collaborate with relevant stakeholders to build an inclusive society where every citizen, regardless of physical ability, can realize their full potential and contribute meaningfully to national progress,” she said.
The Minister also urged beneficiaries of the empowerment programme to maximize the opportunities provided to enhance their livelihoods, achieve economic independence, and serve as agents of positive change within their communities.
Mahmoud, on behalf of the FCT Administration, expressed profound appreciation to the First Lady for bringing hope, encouragement, and practical support to the physically challenged community, while praying for God’s continued guidance and strength upon her as she continues her service to humanity and the nation.
Earlier in her remarks, former FCT APC Women Leader, Mrs. Hailmary Aipoh commended the First Lady for her generosity, compassion, and thoughtful initiatives towards women, families, and vulnerable Nigerians.
Aipoh expressed the hope that the empowerment support would serve as a catalyst for growth, expansion, and greater success in their petty businesses.
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