By Godwin Oritse

West Africa Container Terminal (WACT)-APM Terminals Nigeria has expanded its educational support initiative with the award of scholarships to 52 new beneficiaries, comprising 47 students from its host communities and 5 children of employees, bringing the total number of beneficiaries under the WACT Scholarship Scheme to 193.
The scholarship award ceremony, held on Tuesday, 21 July 2026 was attended by the WACT Management team, the Country CEO of APM Terminals Nigeria, community leaders from WACT’s host communities, parents, guardians, employees and student beneficiaries.

The event highlighted WACT’s commitment to educational advancement and youth empowerment through sustained investments in people and communities.
Speaking at the ceremony, WACT Managing Director, Courage Obadagbonyi, described the scholarship programme as an investment in the future of the students and the communities they represent.

“This scholarship programme is aimed at empowering students to shine as leaders and contributors to their families, their communities, Rivers State and Nigeria at large.”
Mr. Obadagbonyi congratulated the beneficiaries for their academic achievements and commended their parents and guardians for supporting their educational journeys.
“The singular fact that you are here as a beneficiary of the WACT Scholarship Scheme is a testament that you are not only intelligent but also diligent and dedicated to your studies.”

He noted that the event marked the fifth edition of the scholarship award ceremony since the launch of WACT’s transformation initiatives in 2021, which strengthened engagement with host communities through the pillars of Transparency, Visibility and Inclusivity.

According to him, the scheme has recorded significant success over the years, producing several first-class graduates and creating opportunities for young people to pursue their academic aspirations. Some of these graduates are currently in our employment.

“Today, we are welcoming 52 new beneficiaries into the scheme, bringing the total number of beneficiaries to 193.”

The Managing Director challenged the scholars to remain focused and demonstrate that the company’s investment in their education is worthwhile. He also highlighted other educational support initiatives, including the WACT Internship Programme, which provides scholars with workplace experience, and the WACT EngineerHER Programme, a one-year development initiative designed to equip female graduates with practical skills and industry exposure.

The Country Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke described the scholarship scheme as one of the company’s most impactful social sustainability initiatives, noting that investing in education aligns with the organisation’s broader purpose of facilitating trade and supporting national development.

“This is one of the social sustainability programmes that we do in Nigeria that I am most proud of because it goes back to the core of what we want to do as a company.”
He explained that while APM Terminals facilitate global trade through its operations, long-term success depends on developing talents who can drive economic growth.
“What we are really doing is helping nations succeed. We do that by facilitating trade, but none of this is going to work if we don’t have the talent to do the job.”

The Country CEO added that the scholarship scheme is helping nurture future talent from the communities where the company operates and creating opportunities for young people to excel.

He also commended the longstanding partnership between WACT and its host communities.

“We believe very strongly that our role as a business is to be in harmony with the society around us. The dialogue we have developed over the last 20 years of operation has really supported that.”
He further expressed pride in WACT’s leadership journey, noting the significance of having the company’s first Nigerian Managing Director.
Community representatives praised WACT for its continued investment in education and youth development.

Speaking on behalf of the Ogu community, Adolphus Dasetima, WACT Ogu Community Liaison Officer, commended the company for sustaining the scholarship programme and extending opportunities to employees’ children.

“I know it’s not easy out there. That is why the management of WACT deemed it fit to do this.”
He encouraged the beneficiaries to make the most of the opportunity and serve as worthy ambassadors of the company and their communities.
Also speaking, Godfrey Maate, Chairman of the Onne Community Development Committee (CDC), thanked WACT for its support to young people through education.
“It is worthwhile walking into this environment and knowing that we have a stake here. Thank you for the scholarship.”

He also acknowledged the impact of the WACT EngineerHer Programme and encouraged the company to sustain its educational and community development initiatives.

Representing the beneficiaries, Mbombom Lawrence Obariayime expressed appreciation to WACT and its management for creating opportunities for students from Onne and Ogu communities.

“I want to appreciate the company and management for making it a mandate in their hearts to empower Onne and Ogu students with scholarship opportunities.”
He also congratulated the best-performing student in the cohort, Ejor Mirabel Emmanuel, and noted the effort required to succeed in the scholarship selection process.

The beneficiaries and their families expressed gratitude to WACT for their support, describing the scholarships as a significant contribution towards achieving their educational goals and easing the financial burden of higher education.
With the addition of 52 new beneficiaries, the WACT Scholarship Scheme continues to play a vital role in promoting academic excellence, developing local talent and creating opportunities for future leaders in its host communities and beyond.

By Progress Godfrey

The Federal Competition and Consumer Protection Commission (FCCPC) has called for stronger collaboration among electricity sector regulators to ensure uniform consumer protection and regulatory certainty.

The call comes at the backdrop of decentralization of electricity and establishment of electricity markets at sub-national levels along with creation of regulatory systems by state governments.

Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the implementation of the Electricity Act, 2023, had fundamentally restructured Nigeria’s electricity sector by empowering states to establish electricity regulatory commissions and oversee intrastate electricity markets.

Speaking at a Stakeholder Engagement on Consumer Protection and Regulatory Cooperation in Nigeria’s Electricity Sector in Abuja, Bello said the evolving regulatory landscape required greater coordination among the Federal Competition and Consumer Protection Commission, the Nigerian Electricity Regulatory Commission (NERC), the Nigerian Electricity Management Services Agency (NEMSA) and State Electricity Regulatory Commissions (SERCs).

According to him, while each regulator has distinct statutory responsibilities, their mandates are complementary and should be harmonised to deliver effective consumer protection.

“Sector regulators bring deep technical expertise, while the FCCPC provides economy-wide experience in consumer protection and competition.

‘‘Our objective is to consult, exchange information, support one another’s lawful actions and ensure consumers receive timely and effective protection. That is the hallmark of mature regulatory governance.

He stressed that consumer protection should extend beyond resolving complaints to preventing harm, identifying risks early and sustaining public confidence in the electricity market.

Bello cited the FCCPC’s 2024 intervention over the planned replacement of obsolete Unistar prepaid meters as an example of effective regulatory collaboration. Concerns that consumers could be compelled to pay for replacement meters or face estimated billing and supply disruptions prompted the Commission to convene NERC, NEMSA and electricity distribution companies.

He said the intervention respected NERC’s statutory mandate while reinforcing the existing regulatory framework rather than duplicating it.

Also speaking, Assistant Director and Head of Consumer Protection at NERC, Anthony Essien, said regulatory convergence had become critical following the emergence of federal, state and regional electricity markets under the Electricity Act.

He noted that while decentralised regulation would bring oversight closer to consumers, divergent regulatory standards across states could create uncertainty for investors and market operators.

Essien said harmonised regulatory approaches would strengthen consumer protection, promote coordinated oversight across jurisdictions and provide a more predictable operating environment for Nigeria’s evolving electricity market.

Commenting, Executive Commissioner, Anambra State Electricity Regulatory Commission (ASERC), DrNnaemekaEwelukwa, said the presence of state regulators would bring regulation closer to consumers, while also creating a more direct interface between investors and state authorities.

By Peter Egwuatu

United Capital Plc, has indicated that interest rate in Nigeria is expected to remain high at the backdrop of inflationary pressures in the second half of 2026 H2’26.

Speaking at its investor relations roundtable, held in Lagos, with the theme: “Decoding performance insights into United Capital Growth Drives and outlook”, the company’s Group Chief Executive Officer, Peter Ashade, said: “With inflation still above the various Central Banks’ targets owing to impact from elevated oil prices (triggered by the US-Iran war), Inflation is expected to remain sticky as oil supply shocks persist. With no respite in sight, elevated inflation has resulted in rising yields with the US 10 Year Bond up 4.6% from 3.9% level in March 2026.”

While commenting on the performance of United Capital in H1’26, he said: “We delivered a strong first-half 2026 performance, with profit after tax rising 77.5 per cent to N21.10 billion, as the investment banking and financial services group benefited from robust growth across its core businesses, higher trading income and expanding fee-based revenues.

“The group’s unaudited results for the six months ended June 30, 2026, showed profit before tax climbed 79.6 per cent to N24.78 billion from N13.79 billion recorded in the corresponding period of 2025, while gross earnings increased by 57.8 per cent to N37.49 billion.

“Net operating income rose to N33.05 billion from N21.32 billion a year earlier, supported by strong investment income, fee and commission earnings and a sharp increase in net trading income. Earnings per share also improved significantly to N2.34 from N1.32, while annualised return on equity strengthened to 25.03 per cent from 16.77 per cent. Cost-to-income ratio improved to 44 per cent from 50 per cent, underscoring stronger operational efficiency.”

He added that the group’s shareholders’ funds expanded by almost 25 per cent to N187.09 billion from N150.00 billion at the end of December 2025, while total assets stood at N1.64 trillion. Managed funds increased to N1.04 trillion, reinforcing the group’s position as one of Nigeria’s leading investment managers.

According to him, “The asset management subsidiary manages more than N1 trillion in assets for over 100,000 retail and institutional investors, while mutual fund assets under management have grown by more than 350 per cent since 2021.

Looking ahead to the second half of the year, Ashade said: “We expect global interest rates to remain elevated amid persistent inflationary pressures, while competition for funding is likely to intensify. However, we believe technology-driven investment opportunities and continued expansion across African markets will support future growth.

Our 2026 strategy will focus on business expansion across Africa, product innovation, financial inclusion, digital transformation, operational efficiency and continued growth in assets under management as it seeks to consolidate its leadership in the investment services industry.”