By Sam Otuonye 

The Federal Government has concluded payment of outstanding severance benefits to 2,100 former workers of Nigeria Airways Limited, more than two decades after the national carrier was liquidated.

The payment, covering beneficiaries in Batches 1 to 7 represents severance benefits due to the affected former employees.

Batches 8 and 9, comprising 600 beneficiaries are being finalised with the beneficiaries scheduled to receive their payments in a matter of days. This brings the number of former Nigeria Airways workers covered by the payment to 2,700, with total benefits of ₦18 billion across the nine batches.

For the beneficiaries and their families, the development brings long awaited relief after years of waiting for an entitlement that, for many, had remained uncertain.

President Bola Ahmed Tinubu had earlier approved the settlement of the outstanding severance obligations to former Nigeria Airways workers, directing that the long standing matter be brought to a conclusion. The President’s intervention provided the necessary impetus for the Federal Government to move towards resolving the outstanding obligation and bringing relief to the affected former workers.

Under the direction of the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the relevant processes for identifying eligible beneficiaries, validating records and establishing the financial obligations were pursued, resulting in the commencement of payment to the first seven batches and the readiness of Batches 8 and 9 for immediate payment.

Commenting on the development, Oyedele said the payment reflects the Federal Government’s determination to address legitimate outstanding obligations and ensure that the welfare of average Nigerians is prioritised.

“Behind these figures are people and families who have waited for years to receive what is legitimately due to them. Our responsibility is to confront outstanding obligations, complete the necessary processes and, once the resources are secured, ensure that the people affected feel the impact of government positively,” he said.

The Minister said the exercise demonstrates what can be achieved when government institutions work together to resolve longstanding issues, adding that the objective is to ensure that legitimate beneficiaries receive their approved entitlements while maintaining the necessary safeguards around public funds.

The Federal Ministry of Finance appreciates the important collaboration of the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, whose engagement with the Finance Ministry helped sustain the matter and advance efforts towards its resolution.

The National Assembly Joint Committees on Aviation also played an important role through their oversight and engagement on the outstanding benefits. The Chairman, Senate Committee on Aviation, Senator Abdulfatai Buhari, and Chairman, House Committee on Aviation, Hon. Abdullahi Idris Garba, were actively engaged in advancing the case of former Nigeria Airways workers and supporting efforts towards settlement.

The payment process has involved extensive verification of beneficiary records, including biometric capture and validation of personal and banking information, to ensure that funds are paid to the rightful beneficiaries.

According to the Director in charge of the Presidential Initiative and Continuous Audit (PICA) Department, Seldam Dangin, the Ministry is preparing a second phase, a mop up exercise, to capture beneficiaries whose records could not be processed during the first phase.

He said the exercise will focus on updating inaccurate or outdated information, additional biometric verification where necessary and correction of banking details. It will also address cases involving deceased beneficiaries, with next of kin or estates required to complete the necessary verification and legal processes before payment.

The mop up exercise is expected to commence by the end of September or early October, subject to final arrangements.

The commencement of payment to the first seven batches, alongside the readiness of Batches 8 and 9, marks a major step towards resolving the longstanding severance obligation to former Nigeria Airways workers, while the planned mop up will provide an opportunity to resolve outstanding cases and bring more eligible beneficiaries into the payment process.

By Sam Otuonye 

The Minister of Youth Development, Ayodele Olawande, has launched Dream Nigeria Youth Charter, a document that focuses on the essential innovation and policy framework that is youth-driven. 

The document, supported by Policy and Innovation Centre, Nigeria, an international advocacy group, during its 2026 Gender and Inclusive Summit in Abuja, with the theme: ‘From Agenda to Action: Making Innovation count for the Last Mile’ aligned with the group’s mandate towards building a resilient youth population in Nigeria.

The Charter unveiled by the Minister of Youth Development, Ayodele Olawande, represented by the Permanent Secretary in the Ministry, said the initiative represented the collective vision and aspirations of Nigerian youths.

She noted that the document was to the growth of Nigerian youth, not just as a dream, but “we want to see it translate into results that will impact every Nigerian youth, in fact, beyond Nigeria to West Africa, and to the world as a whole.”

“On behalf of the Minister of Youth Development, Ayodele Olawande, who would have loved to be here but due to work exigencies could not, we are launching this beautiful work put together by Nigerian youths themselves and supported over the years by the Policy and Innovation Centre,” she said.

“We are launching this beautiful work put together by Nigerian youth themselves, supported over the year by PIC. So please join me as we launch this.”

She then formally declared the Dream Nigeria Youth Charter launched and called on stakeholders to support its implementation.

The launch added a youth development dimension to the GS-26 conversations, as participants continued to examine how stronger institutions, inclusive policies and accountable governance could deliver development to Nigerians at the last mile.

The participants observed that Nigeria’s political culture of governance works in the opposite direction, from the imperatives of government that we desire to see, noting that the political culture fundamentally concentrated on the business of getting into office, and ensure that you can stay in office. Hence, a political imperatives that become the predominant feature of day-to-day governments.

They noted that the last mile is made up of human beings whose wellbeing are supposed to be addressed by the fantastic policies of the government.

“We are talking about the business of policy articulation. If you have a whole process of assurance that has been articulated, actually benefits those at the last minute.”

Speaking on tax reforms and the impact on the last mile, the Special Adviser on Revenue to the Minister of Finance and Coordinating Minister of the Economy, Olarinde Michael Olufemi, said Nigeria must move beyond measuring the success of tax reforms merely by the volume of revenue collected.

He noted that the real test of fiscal reform should be how effectively public revenue is translated into improved healthcare, education, infrastructure, security, social protection and other essential services for Nigerians.

Olufemi stated that Nigeria’s tax-to-GDP ratio remained among the lowest globally and below the African average, stressing the urgent need to strengthen domestic resource mobilisation.

According to him, the government’s target is to raise the country’s tax-to-GDP ratio to 18 per cent by 2028, while ensuring efficiency, transparency and equity in the management and deployment of public resources.

He said Nigeria’s rapidly growing population, projected to reach about 400 million by 2050, would place increasing pressure on public services and infrastructure.

He identified healthcare, education, infrastructure, security and social protection as critical areas requiring sustainable financing.

He said rising debt obligations, infrastructure financing gaps, rapid urbanisation, unemployment and climate-related challenges had made it imperative for Nigeria to expand its domestic revenue base.

By Sam Otuonye 

The Central Bank of Nigeria (CBN), on behalf of the Debt Management Office (DMO), has issued an Invitation to Tender for Nigerian Treasury Bills (NTB) of 91-day, 182-day and 364-day tenors, totalling N500 billion, to be auctioned by Dutch auction on Wednesday, September 9, 2026.

The offer notice released on Tuesday, September 8, 2026, directed all Money Market Dealers to submit bids through the CBN S4 WEB INTERFACE between 8.00 a.m. and 11.00 a.m. on Wednesday, September 9, 2026.

Allotment letters would be issued to successful bids on Thursday, September 10, 2026, while payment for the successful bids should be made to your account with Central Bank of Nigeria not later than 11.00 a.m. on Thursday September 10, 2026.

The offer is broken down as N100 billion for the 91-day bill, N100 billion for the 182-day bill, and N300 billion for the 364-day bill, marking a notable step down from the N700 billion offers that have defined most of the CBN’s larger auction sessions through Q3 2026.

91-day bill: N100 billion on offer

182-day bill: N100 billion on offer

364-day bill: N300 billion on offer

Total offer: N500 billion.

All Money Market Dealers are required to submit bids through the CBN S4 Web Interface between 8:00 a.m. and 11:00 a.m. on Wednesday, September 9, 2026.

Each bid must be in multiples of N1,000, subject to a minimum of N50,001,000.

Dealers are permitted to submit multiple bids on their own account or on behalf of non-Money Market Dealers and members of the public.

The auction result is expected to be announced on Wednesday, September 9, 2026, while allotment letters will be issued on Thursday, September 10, 2026.

Payment for successful bids is due to the CBN not later than 11:00 a.m. on the same day. The apex bank reserves the right to reject any bid or vary the amount on offer in line with prevailing market conditions.

Under the Q3 NTB programme, the Debt Management Office (DMO) along with the CBN planned to issue N5.8 trillion in Treasury Bills between July and September 2026.

The programme comprises N900 billion in 91-day, N900 billion in 182-day and N4 trillion in 364-day bills.

The 364-day bill accounts for about 69% of planned issuance, making it the dominant instrument.

Treasury Bills worth N2.644 trillion are expected to mature during the quarter.

After repayment of maturities, the programme implies an estimated net new borrowing of N3.16 trillion.

Under the original programme plans, the apex scheduled major N700 billion auctions for July 8, July 29, August 5, August 12, August 26 and September 2.