Business
Senate approves Lagos state $200m world bank loan
The Senate on Wednesday approved $200m foreign loan being the third tranche of the $600m which the Lagos State Government requested from the World Bank through the Federal Government External Borrowing Plan packaged to span 2015 to 2017.
The loan is a budget support facility under the World Bank Development Policy Operation, meant to finance deficits in the annual government budget, thereby enhancing its capacity to execute key projects.
President Muhammadu Buhari had, through an executive communication on September 29, requested the Senate approval for the loan which, according to him, would support Lagos to build systems and institutions to improve the quality of spending and strengthen investment climate while maintaining fiscal sustainability.
The Senate President, Bukola Saraki, consequently referred the request to the Senate Ad-hoc Committee on Local and Foreign Debts on November 3, with a mandate to carry out necessary legislative action and report back in two weeks.
The Chairman of the committee, Senator Kabiru Gaya, while submitting the report on Wednesday, noted that Lagos and Edo were the only two states in Sub-Saharan Africa that had been able to meet the stringent conditions of the World Bank to qualify for the DPO.
Gaya explained that Lagos, among others, had with the earlier funds approved for it in the first and second tranches, carried out various reforms in the health, education, social infrastructure and the environment, which were adjudged satisfactory by the bank.
He listed some of the projects executed with the loan to include the Lekki-Ikoyi Link Cable Bridge; Cardiac and Renal Centres at Gbagada General Hospital; Network of Roads in Apapa; and the 27km Light Rail along Lagos-Badagry Expressway to Marina.
The projects, he said, would greatly enhance economic growth, employment generation and increased revenue generation capacity of the state.
According to him, the credit facility will consolidate on the gains made in key sectors of the economy in the state from the first and second tranches.
However, before the final approval, the senators cautioned state governors against frivolous borrowings which would, at the end of the day, put their economy in critical condition as a result of huge indebtedness.
For instance, Senator Danjuma Goje reviewed the alarming rate at which states were seeking foreign loans and expressed fears that the nation was gradually drifting to the pre-Olusegun Obasanjo administration when Nigeria had huge foreign debts.
He said, “Most state governors were currently putting their states in serious critical situation having collected loans that cannot be paid by them during their tenure, thereby imposing great financial burden on their citizenry for decades.”
Punch
Business
HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE
HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE
LAGOS — A fast-rising fashion brand, House of Bimpe Fit, is making waves in the style scene with its collection of modern, elegant outfits designed for both men and women.
The brand, which showcases a blend of contemporary and classic designs, is quickly attracting attention for its attention to detail and quality finishing. From sharply tailored men’s native wears and suits to chic, figure-flattering outfits for women, House of Bimpe Fit is positioning itself as a go-to destination for fashion lovers seeking both style and comfort.
Speaking on the brand’s vision, the management emphasized its commitment to delivering “quality outfits for both men and women,” ensuring customers step out with confidence and class regardless of the occasion.
Fashion enthusiasts have particularly praised the brand’s versatility, as it caters to a wide range of tastes—from corporate elegance to casual sophistication.
With an active presence on social media, especially on TikTok via @house_of_bimpefit, the brand is leveraging digital platforms to reach a broader audience and showcase its latest collections.
Industry watchers say House of Bimpe Fit is one to watch, as it continues to carve a niche for itself in Nigeria’s competitive fashion industry.
For inquiries, customers can contact the brand via phone at 0802 686 6277.
Business
Jafad College of Nursing Science Showcases Excellence at Matriculation, Capping Ceremony for 158 Nursing Students
Jafad College of Nursing Science Showcases Excellence at Matriculation, Capping Ceremony for 158 Nursing Students
By Agholor M.O
Jafad College of Nursing Science, Oru Ijebu Ogun State, has once again demonstrated its commitment to excellence in healthcare education as it matriculated and inducted into Nursing Training, 158 students of the N.D 2025/2026 academic session in a well attended and inspiring ceremony which took place on Wednesday, 8th of April 2026 at the College premises, Oru Ijebu, Ogun State
The event began with a colourful academic procession of the matriculating students led by their Class Coordinator Mrs B.O. Okuboyejo, alongside principal officers of the college, including the Student Affairs Officer, Mrs Fijabi; College Accountant, Mrs Funmilayo Victoria Alao; Librarian, Mr Jonathan Olusola Fatokun; Registrar, Mr Mojeed Adewale Lawal; and the Acting Provost, Ms Olufunmilola Akintayo.
In her welcome address, the Acting Provost charged the new students to embrace discipline, dedication, and professionalism, noting that Jafad College provides a strong academic and moral foundation needed to thrive in the ever demanding healthcare sector.
The ceremony attracted dignitaries, including Mr Abdulhameed, JAMB Zonal Coordinator, Abeokuta, Ogun State, further underscoring the institution’s growing reputation.
Delivering the matriculation lecture, Mrs Oyelayo Toyin Adeola, a registered nurse educator from Olabisi Onabanjo University Teaching Hospital, spoke on the theme: *“The Journey of Admission to Graduation: Strategies for a Successful Outcome – Learner and Teacher Perspective.”* She emphasized the importance of goal-setting, effective study habits, time management, and active student teacher collaboration. She also highlighted the need for resilience, ethical conduct, and continuous self-improvement, describing nursing as both a calling and a profession that demands compassion, competence, and lifelong learning.
The ceremony reached a symbolic peak with the capping and stripping of the students by experienced registered nurses from Ogun State Hospital, Ijebu Ode, officially ushering them into the noble nursing professional Training.
Parents and guardians expressed satisfaction with the quality of organization and training standards, while the students beamed with excitement as they began their professional journey.
With its experienced faculty, structured training, and commitment to producing competent and compassionate nurses, Jafad College of Nursing Science continues to stand out as a top choice for aspiring healthcare professionals in Ogun State and beyond.
Business
FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament
FirstBank Partners Eko Hotels & KEY Academy for ChessMasters 2026 Tournament
Lagos, 30 March 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, has announced its strategic sponsorship of the second edition of ChessMasters, Africa’s largest school chess tournament. The announcement was made at the official press conference of the tournament held on 16 March 2026 at Eko Hotels and Suites, Lagos.
ChessMasters is an annual chess tournament designed to equip the next generation with critical thinking, problem-solving, and leadership skills. The competition targets children in primary school aged between 6 and 11 years old. Organised by Eko Hotels and Suites & KEY Academy , ChessMasters was created to provide thousands of children across Nigeria with opportunities to develop modern educational skills, bringing schools together on a national stage.
Speaking at the press conference, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications at FirstBank, said, “Our sponsorship of ChessMasters 2026 reflects our commitment to building talents and communities, driving inclusion, and deepening engagement through our First@Sports initiative, a platform that celebrates talent and promotes social impact through sports. With over a century of supporting legacy sports in Nigeria, we are proud of our enduring partnerships – 105 years with the Georgian Cup, 65 years with the Lagos Amateur Golf Championship and 35 years with the Dala Hard Court Tennis Championship.”
Ijabiyi further highlighted how the sponsorship aligns with FirstBank’s sustainability pillars of Education, Health, and Welfare. “We recognise the potential of chess to help school-age children challenge themselves, think critically, and compete at the highest level, hence we see the tournament as a launchpad for a pan-African movement leveraging chess as a tool for education, empowerment, and leadership development. We are utilising this platform as another avenue to promote social impact and drive positive change in the community.”
Caline Chagoury Moudabar, Director and Co- Founder of ChessMasters and her partner Damilola Okonkwo of Key Academy, expressed appreciation for FirstBank’s support, noting that the partnership will help scale the impact of ChessMasters and inspire more schools to participate. “We are happy to welcome FirstBank on board. This collaboration will boost chess development in Nigeria and promote critical thinking among young minds. With support from partners like FirstBank, we are opening the doors of participation to more children and more schools in this year’s edition.”
Prince Adeyinka Adewole, Vice President of the Nigeria Chess Federation, commended the initiative, emphasising its role in nurturing future chess talents. “Chess connects people, ideas, and opportunities. It teaches children to be analytical, patient, and manage their time and resources effectively. Chess also improves concentration and has been particularly beneficial for children with autism.”
The second edition of ChessMasters will be held on Saturday, 2 May 2026 at Eko Hotels and Suites, Lagos. The competition is open to 150 schools across Lagos, with over 700 students expected to participate and vie for a total prize pool of N10 million.
FirstBank’s involvement in the 2026 edition of the tournament reinforces the potential of ChessMasters to become a launchpad for African children, leveraging chess as a tool for education, empowerment, and leadership development.
-
news4 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
society7 months ago“You Are Never Without Help” – Pastor Gebhardt Berndt Inspires Hope Through Empower Church (Video)
-
celebrity radar - gossips2 months agoDr. Chris Okafor Returns with Power and Fire of the Spirit -Mounts Grace Nation Altar with Fresh Anointing and Restoration Grace on February 1, 2026
-
celebrity radar - gossips4 months agoProphet Kingsley Aitafo Releases 2026 Prophecy: ‘Nigeria Will Rise, but the World Must Prepare for Turbulence’


















You must be logged in to post a comment Login
You must log in to post a comment.