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SOUQ TV/The Isle FM concludes intensive mgt retreat(Photos)

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FemyWalsh Limited, owner and operator of SOUQ News TV and The Isle 109.4 FM, has concluded a management retreat for its management staff and executives. The intensive five-day programme, designed to outline the company’s strategic plans and enhance operational efficiency and leadership skills, was held at SOUQ News headquarters in Lagos.

This training initiative is part of SOUQ News TV/The Isle FM’s ongoing commitment to enshrining a culture of continuous learning and professional development. Over five days, participants engaged in workshops, interactive sessions, and case studies led by leadership  and management experts and seasoned professionals within and outside the company.

The week-long series of training also marked the onboarding of our esteemed new appointments, who are set to play pivotal roles in our future growth. We welcome Ikenna Mbah (Head of Radio), Temitope Omole (Head of Programmes), Chuks John-Rogers (Head of TV), Kayode Shopekan (Head of News), Joy Asonye (Abuja Correspondent) and Ayoola Babalola (Abuja Bureau Chief) to our team.

During the retreat, participants were immersed in a transformative experience. They were guided through crucial comprehensive strategic planning and execution skills, delving into market analysis, competitive positioning, and long-term business planning. Interactive sessions with industry experts provided insights on emerging trends and technologies shaping the media industry. This retreat has equipped our team with the skills and knowledge needed to operate successfully not only for today’s modern industry, but also in the newsroom of the future.

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Victor Walsh Oluwafemi, CEO/President of FemyWalsh Limited, reiterates our commitment to continuous learning and professional development. He describes this retreat as an integral aspect of our strategy, providing our people with the required tools and insights as we embark on our mission of crafting a new narrative for business journalism in Africa. This training underscores our dedication to maintaining the highest standards of excellence and innovation at SOUQ News TV and The Isle FM.

Similarly, Dr Idahosa Osamhanze, Vice President of FemyWalsh, says, “This training has provided our leaders with new tools and perspectives to enhance their operational efficiency and strategic thinking.” Sam Orowvuje, Vice President, states, “We are confident that the skills acquired will positively impact our organization, driving us forward to achieve even greater success.”

“The insights and strategies shared during this program are invaluable for our management team,” says Jide Taiwo, Chief Operating Officer of SOUQ News TV / The Isle FM. “We believe that continuous learning is crucial for staying ahead in the competitive media environment, and this program has reinforced that commitment.”

SOUQ News TV is a digital satellite television station licensed for operations in Nigeria and the United Arab Emirates. Its mission is to deliver accurate, unbiased news and analysis. It focuses on finance, economics, trade, entrepreneurship, policy, and innovation. The Isle 104.9FM is a licensed terrestrial radio station that caters to the business community and is billed to commence operations in Q3 2024.

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FemyWalsh Limited is a sister company of Integrated Management Resources (IMR), an Isle of Man-based company

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Inflation, Rising Costs Behind 50% Telecom Tariff Increase – Minister

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…FG to invest ₦6bn in fibre optic expansion

 

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By Gloria Ikibah

 

The Minister of Communication, Innovation, and Digital Economy, Dr. Bosun Tijani, has attributed the recent 50 percent increase in telecommunication tariffs to inflation and rising operational costs.

 

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The Minister disclosed this during the 2025 budget defense session held by the joint House of Representatives and Senate Committees on Communication, on Tuesday in Abuja.

 

Explaining the rationale behind the tariff hike, Dr. Tijani stated that the move aligns with broader economic trends where increased tariffs lead to higher consumer prices due to added costs on imported goods.

 

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The Minister also revealed plans by the Federal Government to invest ₦6 billion in the deployment of 90,000 kilometers of fiber optic cables, increasing Nigeria’s current coverage from 35,000 kilometers to 125,000 kilometers, and he described this initiative as a critical step towards boosting communication infrastructure and fostering growth in key sectors of the economy.

 

“Tariffs act as a sales tax, causing a one-off price increase rather than sustained inflation.

 

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“Outside of South Africa and maybe Egypt or Tunisia, many African countries face a significant deficit in fiber optic cable coverage.

 

“This is going to become a big business. We want Nigerian companies not only to lay cables within Nigeria but also to provide these services for neighboring countries. And we want our people to be the workforce driving this transformation,” he said.

 

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Dr. Tijani who emphasised the importance of communication infrastructure in ensuring security and economic development, highlighted the historical reliance on private investment for telecommunications infrastructure, which has often prioritized profitable urban areas over rural communities.

 

“Private companies only invest where they see potential returns.

“They use tools like night-time satellite data to identify economic activity, represented by lights, and focus their investments in those areas. This has left many underserved regions without proper infrastructure. Addressing this disparity is a priority for us,” he explained.

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The Minister, however, lamented the inadequate funding of the Ministry, which he said hampers its ability to fulfill its mandate effectively.

 

“The Ministry is underfunded compared to agencies like the NCC. We lack the necessary resources and software to track revenue-generating activities efficiently. With better funding, the Ministry could generate significantly more revenue and enhance its impact,” he said.

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In his remarks, Senator Shuaib Salisu, Co-Chairman of the Senate Committee on Communication, acknowledged the critical contributions of the communication sector to Nigeria’s economic growth. He called for a review of the Ministry’s 2025 proposed budget to ensure it is adequately equipped to deliver on its mandate.

 

Following discussions, the Committee adopted a motion urging the Committees on Appropriation to consider an upward revision of the Ministry’s budget for 2025.

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Kalu Calls On UK Govt to Support Nigeria’s War Against Corruption

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…praised diplomatic ties between the two countries

 

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By Gloria Ikibah

 

The Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu, has called on the government of United Kingdom (UK) to support Nigeria’s fight against corruption.

 

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The Deputy Speaker made the call during his speech in an event tagged “UK-Nigeria Collaboration: A Parliamentary Strategic Dialogue” which attracted the presence of the Deputy Leader of the British House of Lords, Rt. Hon. Lord Collins among other members of parliament from Nigeria and UK in London on Wednesday.

 

Kalu emphasized the importance of collaboration between the two countries in tackling corruption amongst other challenges.

 

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He commended the diplomatic ties between Nigeria and the United Kingdom, highlighting the potential for deepened economic relationships.

 

Referencing the partnership between Nigeria and the UK as a testament to shared values and mutual interests, Kalu added that by deepening collaboration across these sectors, both countries will unlock the  opportunities for sustainable growth and development.

 

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He said: “The UK-Nigeria Strategic Partnership establishes a comprehensive framework for deepening bilateral relations and achieving shared objectives. This collaboration spans six pillars: Growth and Jobs: Through the Enhanced Trade and Investment Partnership (ETIP), both nations will drive mutual economic growth by addressing market barriers, boosting two-way trade, and fostering sustainable investments in manufacturing, agriculture, and energy.

 

“Both nations commit to facilitating safe migration, tackling visa abuse, and operationalizing prisoner transfer agreements while advancing reforms in global financial systems.

 

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“I wish to call on the UK Government to intensify its efforts towards supporting Nigeria’s war against corruption in all its facets. One of the ways the UK can support this fight is to ease the process of repatriation of monies seized from Nigerian officials that are trapped in the UK financial system. Incidentally, I am here with the Chairman of the Nigerian Parliament Committee on Financial Crimes and he will be happy to continue the conversation with relevant officials.

 

“Nigeria seeks the UK’s continued support in recovering illicit funds. Enhanced collaboration should focus on: Setting up mechanisms to curb illicit financial flows. Strengthening institutions to combat  corruption. Facilitating asset recovery processes through bilateral agreements”.

 

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Kalu who is the Chairman,  Nigeria’s House Committee on Constitution Review and an advocate for political inclusion also called on the UK’s Foreign, Commonwealth & Development Office (FCDO) to support the work of the panel.

 

“As Chair of the House Committee on Constitution Review, I acknowledge the monumental task of refining Nigeria’s constitutional framework to reflect the evolving needs of its people. Key issues under deliberation—such as the creation of special status seats for women in legislative assemblies, the enactment of more gendersensitive legislation, and the potential introduction of sub-national policing—are pivotal to fostering inclusive governance and addressing the nation’s security challenges.

 

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“Thus, I implore the UK’s Foreign, Commonwealth & Development Office (FCDO) to extend tailored support to the Committee’s critical work. By providing technical assistance, research expertise, and capacity-building programs, the FCDO can help ensure that these constitutional reforms are comprehensive, evidence-based, and aligned with international best practices.

 

“Such support would not only strengthen Nigeria’s democratic institutions but also reinforce shared values of equity, justice, and security, which underpin the UK-Nigeria Strategic Partnership. This collaboration would demonstrate a profound commitment to empowering marginalized groups, ensuring safer communities, and fortifying Nigeria’s legislative framework for future generations”, he said.

 

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FG Launches Plastic Waste Vending Machines to Tackle Pollution, Promote Circular Economy

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By Gloria Ikibah

The Federal Government has unveiled Plastic Waste Reverse Vending Machines to address environmental pollution and promote sustainable waste management in Nigeria.

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The launch, which took place on Wednesday at the National Assembly complex in Abuja, is part of the United Nations Industrial Development Organization (UNIDO) project titled “Promoting Sustainable Plastic Value Chains Through Circular Economy Practices.”

Speaking at the event, Minister of Environment, Mallam Balarabe Lawal, described the initiative as a significant milestone in the fight against plastic pollution and the promotion of sustainable practices in waste management.

He stressed that the vending machines will reward Nigerians for depositing plastic bottles and other recyclable materials, thereby fostering a culture of recycling.

“Today, we take an important step forward in our collective fight against plastic pollution.

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“As we stand together, this reverse vending machine represents not just a tool, but a symbol of our unwavering commitment to a cleaner, greener, and more sustainable future for Nigeria”, Mallam Lawal said.

The Minister also highlighted the broader benefits of the initiative, as he explained that the technology encourages proper waste disposal and reduces environmental pollution while advancing the concept of a circular economy.

“Reverse vending machines are a cutting-edge solution in waste management. They allow individuals to deposit bottles and other recyclable materials, receiving a reward in return.

“This simple yet powerful technology encourages proper waste disposal and creates a culture of recycling, where each citizen can actively participate in protecting our environment,” he added.

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Mallam Lawal further noted the economic and environmental gains associated with the initiative, including cleaner communities, job creation, and increased public awareness of sustainability. He stressed that the project embraces local innovation and craftsmanship while reinforcing the government’s dedication to environmental protection.

“With its unveiling, we embrace local innovation and craftsmanship, and a renewed dedication to protecting our environment,” the Minister said.

Chairman of the House of Representatives’ Committee on Environment, Rep. Julius Pondi, commended the initiative and described it as a game-changer in waste management.

He called on UNIDO to collaborate with the National Assembly to replicate the project nationwide.

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The initiative is expected to significantly reduce plastic pollution across the country, empower communities, and encourage the active participation of citizens in sustainable environmental practices.

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