The African Development Bank (AfDB) has appointed Festus Keyamo, Minister of Aviation and Aerospace Development, as the African champion for its $7 billion integrated aviation transformation programme for Africa (IATP).

The bank said the appointment followed Nigeria’s “leadership and vision” in implementing policy reforms aimed at transforming the country’s aviation sector.

In a statement, Tunde Moshood, Special Adviser on Media and Communications to the Minister, said AfDB also invited Keyamo to its annual meeting scheduled for May 28, 2026, in Brazzaville.

According to the statement, the formal signing of the letter of intent (LOI) between the bank and Nigeria would take place at the meeting.

“The Integrated Aviation Transformation Programme for Africa is a continent-wide platform designed to modernize Africa’s aviation ecosystem and mobilize private, institutional, and concessional capital,” the statement reads.

“It seeks to revitalize the industry, as African airlines currently account for less than 3 percent of global air traffic despite housing nearly 18 percent of the global population.

“The aviation minister is now expected to bring his knowledge, commitment, and passion to drive the programme in the whole of Africa.”

In March 2026, the AfDB unveiled the programme as part of efforts to modernise Africa’s aviation industry.

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By Peter Egwuatu 

Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Temi Popoola, has urged the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to treat capital market development as a macroeconomic necessity, arguing that the effectiveness of monetary policy increasingly depends on the depth, liquidity, and coherence of Nigeria’s financial markets.

Popoola made this call in a presentation delivered during a session at the CBN   Monetary Policy Committee, MPC workshop themed: “Structure and Behaviour of Nigeria’s Equity and Government Debt Markets: Implications for Monetary Policy Effectiveness.”

Represented by Jumoke Olaniyan, Group Chief Strategy Officer, NGX Group Popoola, noted that    monetary policy decisions travel through market architecture before reaching households and businesses, and weak market structures can dilute policy effectiveness regardless of the stance adopted by the MPC.  

“The real question is not only the level of the policy rate, but whether the financial architecture through which it is transmitted is sufficiently deep and liquid,” he stated.

Popoola noted that Nigeria’s markets are increasingly pricing the broader reform environment, including FX reforms, fiscal adjustment, and improving investor confidence, rather than responding solely to changes in the MPR.

Highlighting the growing scale of the Nigerian capital market, Popoola disclosed that equity market capitalisation had risen to N159.73 trillion in 2026, while fixed-income market capitalisation stood at N55.82 trillion, adding that the NGX All-Share Index (ASI) recorded a 60.13 per cent year-to-date return, reflecting deepening investor confidence despite elevated interest rates.

However, he   observed that market activity remains concentrated in a few dominant sectors, while retail participation remains relatively low, limiting the broader wealth-effect channel through which monetary policy reaches ordinary Nigerians.

On the debt market, Popoola pointed to the divergence between the current MPR of 26.50 per cent and the 10-year sovereign yield of 14.95 per cent as evidence that markets are pricing long-term reform credibility rather than merely reacting to interest rates. The ASI’s 51.19 per cent return in 2025, achieved despite elevated rates, reinforced this position.

Popoola also cautioned that the coexistence of Treasury Bills, Open Market Operations (OMO) Bills, and standing facilities creates competing short-end signals that weaken benchmark clarity and dilute policy transmission. “MPR changes are absorbed across multiple instruments rather than transmitted cleanly through a single benchmark,” he noted.

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By Yinka Kolawole

The Federal Road Safety Corps (FRSC) has commended Dangote Cement Plc for delivering measurable and transformative improvements in road safety, noting a significant decline in articulated truck crashes across Nigeria following the introduction of innovative transport safety policies and operational reforms.

The Corps described Dangote Cement as a benchmark for transport management and road safety practices, not only in Nigeria but across Africa.

Speaking during a visit to the FRSC Headquarters, the Corps Marshal, Shehu Mohammed, praised the company for setting new standards in road safety management and urged the sustained implementation of initiatives that are reshaping Nigeria’s transport landscape.

He noted that comparative data between 2025 and 2026 revealed a 56 per cent reduction in road crashes involving Dangote Cement trucks, alongside a 36 per cent decline in fatalities and a 52 per cent reduction in injuries.

According to the Corps Marshal, these outcomes clearly demonstrate the effective execution of Dangote Cement’s Gap Analysis and the strength of its internal transport safety policies, which were described as worthy of emulation by logistics operators across Africa. He noted that Dangote Cement’s success reinforces the belief that when industry leaders get safety right, the benefits extend to the entire nation and the continent at large.

Earlier, the Head of Transport at Dangote Cement, Murilo Silva, highlighted the company’s ongoing investments in advanced transport management systems, including automated inspection technologies and artificial intelligence–driven solutions designed to enhance both operational efficiency and road safety.

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