This is the moment we have all been waiting for. Nigeria‘s most anticipated election, the season Nigerians will perform their civic duties to vote in their preferred/qualified candidate.
With Nigeria’s most important election only three days away, it is critical that all stakeholders take the necessary steps to ensure a successful and peaceful election.
Here are some preparation tips for the upcoming election:
Polling Unit
Know your polling unit: It is critical to know your polling unit because this is where you will vote. Check your voter’s card or go to the Independent National Electoral Commission (INEC) website to find your polling unit.
Check your voter registration status. Make sure you’re registered to vote and your name is on the voter list. You can check the status of your voter registration by visiting the INEC website.
Candidates
It is critical to learn about the candidates running for office as well as their platforms. Investigate their track record, promises, and future plans if elected. This will allow you to make an informed decision when voting.
Before going to vote, learn your candidate’s political party and its logo.
Abenol a platform for nation building that connects tech-savvy and educated Nigerians to the grassroots; urged Nigerians to not only vote for a presidential candidate but be involved in all of the elections.
“There are many people seeking to represent you at various levels of government not just the presidency. Each position is of equal importance and the same attention to detail should be given,” Abenol said.
“It is how you exert the control you have over the government, push back bad leadership etc. if the state of Nigeria concerns you so much, you will not leave your card lying around on the day of the election, you will infact come out and vote.”
There are many people seeking to represent you at various levels of government not just the presidency. Each position is of equal importance and the same attention to detail should be given. pic.twitter.com/OsRMtGJpmG
Understand the election rules, including the voting process, time, and location.
Knowing the rules will ensure that you understand what is expected of you and that you do not break any rules inadvertently.
Plan your waka well
Plan ahead of time for transportation to and from the polling place. Make sure you have enough time to get to the polling place and that you have enough resources, such as food, water, and money.
Inform your loved ones about your plans.
Security
Be aware of any security threats in your area and take the necessary precautions. Avoid high-risk areas and report any suspicious activity to the appropriate authorities.
Protect yourself, do not go towards any riot or sponsor it. If you have a security dog feel free to take it along but but it on a leash and do not let it attack anyone.
Do not wear any political outfit!
The federal government may have deployed security personnel to protect cities, but will they be present at all polling places? Protect yourself by using “The N-Alert App” to report any suspicious or violent behavior.
‘The N-Alert App’ is a mobile app that allows you to report any type of crime and receive a quick response because it is routed directly to the command center.
The app is very simple to use, so please encourage anyone you know who is voting to download it and it is available for download on both iOS and Android.
Secure your votes
Don’t just vote and go home. Go early to your polling unit, make sure the electoral materials have not been tampered with and after voting, make sure that your votes are not stolen. Make sure that the electoral officer uploads your vote.
It is easy for your polling unit to be attacked, for your votes to stolen or rendered void if there is no one to stop them. Stay back and make sure that the right thing is done.
“Go early and stay until the votes in your unit have been submitted. Don’t just vote and go home, stay to protect your vote. This will help keep the officials accountable and make election violence less likely,” Laju Iren tweeted.
To summarize, all stakeholders must work together to prepare for Nigeria’s election in three days. We can ensure a successful, peaceful, and transparent election that reflects the will of the people if we follow these guidelines. Let us all work together to make this election a success.
Eating on a budget seems like a hard task in Nigeria especially with the rate of inflation and trying to avoid eating rice everyday.
Eating out can be expensive either it is at a big or small restaurant. Buying groceries frequently takes a chunk of your money.
Sometimes we try to count our money to calculate how much we spent; especially when our wallets are slim and our bank accounts are not smiling.
How can we reduce our spending? What can we do to eat healthy while maintaining a budget?
Eating healthy on a budget is not impossible. One of the ways to achieve it is to have a garden and grow your food.
Growing your food might seem extreme or overly expensive. No need to fear, you can start small.
As small as spring onions or pepper then work your way up to other agricultural produce.
Eating on a budget; how to
Growing your own fruits and vegetables is a great way to save money and have fresh produce at your fingertips if you have the space.
Having a steady supply of fresh produce at home can help you save money at the grocery store.
What should you plant?
You can start with the things you usually use; like ginger, spring onions, cabbage or even tomatoes. Take a look at the tools you have and watch videos that will help you decide what to start with, how to plant and when to plant.
How to plant
Watch videos and read articles on how to plant and how to maintain your garden.
Where to plant?
Start on a small scale. Many fruits, vegetables, and herbs can be grown in pots on patios or balconies especially if you don’t have a yard.
Snapchat, Twitter, and other social media sites may be sanctioned by the Federal Government over the display of porn and nudity on the Nigerian cyberspace. This is as the National Information Technology Development Agency (NITDA) released the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries (online platforms).
Part of the order included in the code is that -Snapchat, Twitter, TikTok, and other social media must ensure the removal, disabling, or blocking of access to any non-consensual content, which displays partial or full nudity, sexual acts, deep fake, or revenge porn within 24 hours.
The code mandated the social media platforms to “act expeditiously to remove, disable, or block access to non-consensual content that exposes a person’s private areas, full or partial nudity, sexual act, or revenge porn, where such content is targeted to harass, disrepute, or intimidate an individual. A Platform must acknowledge the receipt of the complaint and take down the content within 24 hours.”
Other things require of Snapchat, Twitter, and other social media platforms
The Code of Practice also directs these platforms to take down any unlawful content upon receiving a notice from a user, or an authorised government agency.
The platforms were also asked to exercise due diligence to ensure that no unlawful content is uploaded to their platform.
Aside from asking each online platform to have a country representative, who will interface with the Nigerian authorities, it also requires any platform with over 100,000 Nigerian users to have an office in Nigeria.
Other conditions include registering with the Corporate Affairs Commission as a legal entity, complying with tax obligations, abiding by regulatory and legal demands, and providing information about users on-demand, among others.
BizWatch Nigeria, however, understands that the Code of Practice recently published by the NITDA was designed to safeguard the fundamental human rights of Nigerians and non-Nigerians living in Nigeria, and to regulate interactions on the online platform.
World Bank, in its ‘A Better Future for All Nigerians: 2022 Nigeria Poverty Assessment’ report, disclosed that the number of Nigerians that would plunge into poverty by the end of this year would hit 95.1 million.
While warning that many non-poor Nigerians are only one small shock away from falling into poverty, the Washington-based lender lamented that since President Muhammadu Buhari was first elected into the office of president of Nigeria in 2015, there has been no improvement in the poverty crisis in the country.
According to World Bank, poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years.
Quoting its economists -Jonathan Lain and Jakob Engel, World Bank said rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration.
“Nigeria’s aspiration to lift all of its people out of poverty by 2030 presents a serious challenge. Even before COVID-19, four in 10 Nigerians lived below the national poverty line – some 80 million people.
“The global pandemic, rising inflation, and ongoing uncertainty related to the war in Ukraine – combined with relentless population growth – have made Nigeria’s poverty-reduction goals more challenging than ever,” the economists were quoted.
Can Buhari truly lift Nigerians out of poverty?
With the factors identified by the World Bank economists, Buhari’s aspiration to lift Nigerians out of poverty has no doubt been met with a major blow.
It would be recalled that in June last year, the President inaugurated the National Steering Committee of the National Poverty Reduction with Growth Strategy chaired by Vice President Yemi Osinbajo.
This, he said, re-echoes his commitment to lifting 100 million Nigerians out of poverty in 10 years, with a well-researched framework for implementation and funding.
The president was quoted in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, as saying, “If India can lift 271 million people out of poverty between 2006 and 2016, Nigeria can surely lift 100 million out of poverty in 10 years.
“Fortunately, we have already started but we need to unlock the challenges of slow implementation, inappropriate targeting, and absence of adequate resources.”
For travellers, and for others seeking dollar to naira in exchange for one thing or the other, they are likely to experience stricter access to it considering the country’s external reserves that hit a seven-month low after falling to $38.57 billion as of May 25, 2022.
According to figures obtained from the Central Bank of Nigeria (CBN) on movement in external reserves, the reserves which had been fluctuating for weeks now, experienced its lowest of $39.01 billion and $38.39 billion on October 10 and 8, 2021 respectively.
However, as a result of the dollar to naira scarcity, banks are extending the waiting period to access forex for foreign trips, thereby denying travellers with urgent trips access to apply for Personal Travel Allowance or the Business Travel Allowance requests.
The banks have also been reducing the amount a customer can spend on the cards in dollar terms.
Explaining Ecobank Nigeria’s current stand on retail forex transactions for international school fees, accommodation and upkeep payments as well as PTA/BTA requests, the financial institution’s Head, Consumer Banking, Korede Demola-Adeniyi said, “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep.
According to him, part of the process involved a review of all documents to ensure compliance with regulatory requirements.
“In order to ensure smooth service and allow disbursement of PTA/BTA within the timeline, we request that applications are submitted with the required documentation,’ he added.
Like Ecobank, Access Bank stated: “All requests are reviewed to ensure that they meet regulatory requirements. In addition, due to limited forex availability provided by the Central Bank of Nigeria, we require a 30-day period to fulfill requests for school fees, upkeep, and rent payment.
“However, for PTA/BTA, we request that you submit your application 14 days before your proposed travel date to allow disbursement within the timeline.”
In response to economic challenges created by the global pandemic and the Russia-Ukraine conflict, Africa Finance Corporation (AFC) is launching a US$2billion facility to support recovery and resilience in Africa.
AFC has committed to funding up to 50% of the new African Economic Resilience Facility and mobilising the remainder through the Corporation’s network of international partners and investors. The facility will be announced at the AFC Live Infrastructure Solutions Summit today.
The facility will be disbursed through loans from AFC to selected commercial banks, regional development banks and central banks in various African countries, providing them with much needed hard currency liquidity to finance trade and other economic activities in their jurisdictions.
These institutions will be able to leverage AFC’s proven access to global funding to receive financing at competitive rates.
Speaking on the rationale behind the launch, Head of Treasury and Financial Institutions, Banji Fehintola, said: “The COVID-19 pandemic set back Africa’s economic growth trajectory and widened the trade financing gap, while the Russia-Ukraine conflict has added a further set of challenges negatively impacting growth prospects across the continent.
“We are determined to play a leading role in helping the continent’s recovery and resilience, not only though the work we do in bridging Africa’s infrastructure gap, but also through targeted interventions such as this US$2billion economic resilience facility.”
Applications for the African Economic Resilience Facility will open this month through AFC’s website.
Through this funding intervention, AFC will accelerate its developmental impact in Africa, helping to drive the continent to a new phase of growth that is focused on maximum resource value capture and domestic job creation.
Over the last 15 years, AFC has built experience mobilising global capital for critical infrastructure projects in Africa.
The Corporation’s recent bond issues include a US$750million 7-year Eurobond issued in 2021 at AFC’s lowest yield to date. The Corporation also established an independent asset management arm, AFC Capital Partners, with plans to raise US$2 billion to fund climate adaptation infrastructure projects in Africa.
To commemorate International Women’s Day 2022, themed “Break The Bias” BizWatch Nigeria presents Twitter Spaces conversation on Wednesday, March 9th 2022 tagged “Break The Bias: Is Nigeria Ready For A Female President?”
International Women’s Day is marked every year to celebrate women all around the world, eradicate gender bias and fight for gender equality. Clearly, we have a long way to go to achieve gender equality.
BizWatch Nigeria to mark this year’s International Women’s Day will have a Twitter Spaces Conversation by 7 pm (WAT) to provide solutions to gender bias and to discuss the following;
Gender bias
Issues in society
Empowering young girls and women
Gender equality and equity
Women in business and leadership
The role of the female gender in restoring Nigeria
Is Nigeria ready for a female president?
The rejected gender bills
Under representation of women in politics and government
The aim of this event is to celebrate women, eliminate gender bias and educate people on gender equality.
The speakers for the event are: Hansatu Adegbite, the Executive Director of WiMBIZ, Seyo Body-Lawson; a renowned entrepreneur and photographer, Gbemi Aleke; a Deputy Director of Account Management and Strategy at TBWA Lagos and Betty Abah; a seasoned journalist, women and children’s right activist and the Director of CEE-HOPE. The Twitter Spaces conversation will be hosted by Adepeju Aina, a content creator at BizWatch Nigeria.
Join our conversation on Twitter as we provide solutions to gender equality and as we break the bias!
The Nigerian National Petroleum Company (NNPC) said that a total of ₦249.3 billion for October 2021 domestic crude oil sales by six multinational oil companies operating in the upstream sector will be paid in January 2022.
The NNPC made this known in its latest report on Nigeria’s crude oil export and domestic crude oil sales in the month of October 2021.
This came as the oil firm revealed that it would also deduct ₦270.83 billion from what would be shared by the three tiers of government during the Federal Accounts Allocation Committee meeting in January next year.
It said the ₦270.83 billion was its November 2021 value shortfall. The NNPC posts value shortfalls as a result of what it spends on the monthly subsidy of Premium Motor Spirit, popularly called petrol.
On oil sales, the oil company explained in the report that while the October 2021 crude oil exports of 50,000 barrels under the Production Sharing Contract, valued at $4.18 million was payable in November 2021, the October 2021 domestic crude oil payment expected in January 2022 from the six firms is ₦249.3 billion.
The company further noted that the October 2021 domestic crude oil payable in January 2022 by the NNPC was in line with the 90 days payment terms, adding that the six firms were its Joint Venture partners.
Oil firms
It outlined the firms from where the funds were being expected to include Chevron Nigeria Limited (CNL), Mobil Producing Nigeria (MPN), Shell Petroleum Development Company (SPDC), MidWestern, Pillar and First Exploration and Production.
It said CNL would be paying for 2.268 million barrels of domestic crude valued at ₦73.85 billion, while MPN would remit ₦123.22 billion for 3.8 million barrels of domestic crude oil.
The SPDC and MidWestern would be paying for 828,556 and 100,000 barrels of domestic crude oil valued at ₦26.966 billion and ₦3.25 billion, respectively.
For Pillar and First E&P, the firms would pay for 20,000 and 649,677 barrels of domestic crude oil valued at N650.91m and N21.36bn, respectively.
The report put the total volume of domestic crude oil payable by the firms in January 2022 at 7.666 million barrels, while the value of the commodity was put at ₦249.3 billion.
“This value shortfall consists of ₦220,110,853,427.56 for November and ₦50,720,290,429.00 deferred for recovery in December 2021 FAAC Report.”
The Federal Government has signed a memorandum of understanding (MoU) with Developing Africa Group from UK, to establish the first in Africa first intellectual property rights (IPR) commercialization project in Nigeria.
The Head of Press and Public Relations of the Ministry of industry, Trade and Investment, Ibrahim Haruna disclosed the information.
The Minister of Industry, Trade and Investment,, Adeniyi Adebayo, was quoted as saying that the MoU would enable the group to use IPR as a means of resolving some of the issues and challenges facing Nigeria as well as provide jobs and trade services.
According to the minister, the pilot project was structured for a period of three years.
“This is to address some of the issues surrounding unemployment and allow rural communities in Nigeria to start attracting commercial interests,” he said.
“Since trademarks are crucial to the promotion of trade and economic development, and Nigeria happens to be one of the strong regional hubs of trade in Africa being the continent’s biggest economy.
“It is no surprise that it has attracted the world’s IP governing body in Abuja, as Nigeria hosted one of the only two World Intellectual Property Office’s (WIPO) external offices in Africa.
“Africa in general and Nigeria in particular, faces an enormous challenge of industrialisation and unemployment generation given the significant population growth.
“The African Development Bank estimates that youth unemployment is twice as high as that of adults and that young people account for approximately 60 per cent of the continent’s jobless population.
“The problem is only set to become more acute given estimates that some 12 million young people on the continent enter the job market each year.”
The minister advised the group to collaborate with the WIPO Office in Nigeria to accomplish the goals.
The chairperson of the group, Jamila Ahmadu-Suka, assured that the use of the IPR would introduce a several technology-based projects in the country.
The Nigerian National Petroleum Company (NNPC) has stated that the pipeline fire at Iyana-Odo/Baruwa axis of Lagos will not unsettle the supply of petroleum products across the country.
NNPC’s Group Managing Director, Mele Kyari, stated this on Friday during a visit to the scene of the incident.
The collapse of an electricity transmission tower on the pipeline on Friday resulted in the fire.
The NNPC GMD, who was represented by Isiyaku Abdullahi, managing director, Pipelines and Products Marketing Company (PPMC) Ltd, stated that the fire incident affected a portion of system 2B pipeline within the area, noting that the visit was to ascertain the extent of the incident.
“We want to assure Nigerians that this incident will not affect the supply and distribution of petroleum products across the country,” he said.
Kyari staed further that official of the national oil company were working with the Lagos government and other relevant authorities to permanently put out the fire.
Confirming the incident earlier on Friday, Ibrahim Farinloye, acting coordinator, south-west zonal office of the National Emergency Management Agency (NEMA), said sparks from the collapsed tower led to the fire outbreak.
“The electricity cable collapse led to sparks and the sparks got to spilled petrol around the area which led to the pipeline fire and a subsequent explosion,” he said.
“The pipeline corridor has been known to have spillage often due to activities of vandals.”
The incident caused power outage in parts of Lagos State.
The House of Representatives (reps) on Tuesday passed a 2022 budget of ₦17.126 trillion which is higher than the ₦16.391 trillion sum presented by President Muhammadu Buhari.
The Senate is also expected to pass the appropriation bill on Tuesday.
While the major capital, recurrent, debt service, statutory transfers remain untouched, the House made provision for an increase by ₦400 billion for agencies that came forward with financial reports which were not captured in the proposed budget, such as INEC, Ministries of Humanitarian Affairs, the National Assembly, and more.
In passing the bill, the House increased the benchmark price for crude from $57 to $62 per barrel, from which a proposed increase in revenue is expected.
The lawmakers also made provision for 10 percent of monies recovered by EFCC and the National Financial Intelligence Unit to be utilised by the agencies for their operations, to strengthen their fight against corruption.
The budget deficit was increased by N98 billion to accommodate some other requests of national importance which have not been captured in the budget estimates and which could not be covered by the revenue increase.
The Nigerian National Petroleum Company Ltd. (NNPC) says it will continue to work tirelessly to ensure sufficient supply of petrol to every part of the country during and beyond the forthcoming festive period.
Group General Manager, Group Public Affairs Division, NNPC, Garba Muhammad, made this known in a statement in Abuja.
Muhammad expressed appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.
“The NNPC is once again giving Nigerians strong assurance that we have product sufficiency that will last far beyond the festive period.
“Indeed, our stock has risen from a reserve of 1.7 billion litres to over two billion litres within the last one month,” he said.
Muhammad, therefore, urged Nigerians not to engage in panic buying, but to fully enjoy the spirit of the festive season.
While appreciating Nigerians for their understanding and support, he promised that NNPC will not relent, in always ensuring sufficient supply of petrol.
Nigeria’s Headline inflation decreased by 0.59 percent to 15.40 percent in November, the National Bureau of Statistics (NBS) has revealed.
Statistician-General of the Federation, Simon Harry, who made the announcement on Wednesday in Abuja during a media conference, also stated that the rebasing of the nation’s economy would take place in 2022 after completing the National Agricultural Sample Census (NASC).
According to him, there has been a consistent decrease in the inflation rate in the last eight months and the figure for November is a decrease from the 15.99 percent recorded in October.
“With this, it means that the declining trend for about eight months portends a positive signal given the favourable economic conditions, the rate of inflation in Nigeria would come down to a bearable level.”
Harry said that on a month-on-month basis, the headline index increased by 1.08 percent in November, which was 0.10 percent higher than the 0.98 percent recorded in October.
The urban inflation rate increased by 15.92 percent (year-on-year) in November from 15.47 percent recorded in November 2020, while the rural inflation rate increased by 14.89 percent in November from 14.33 percent in November 2020.
On a month-on-month basis, however, the urban index rose by 1.12 percent in November, up by 0.10 percent from the 1.02 percent recorded in October, while the rural index also rose by 1.04 percent in November, up by 0.09 percent from the 0.95 percent rate recorded in October.
He also said that the composite food index rose by 17.21 percent in November compared to 18.30 percent in November 2020.
According to him, the rise in the food index was caused by increases in prices of bread and cereals, fish, food product such as potatoes, yam, and other tubers, oil and fats, milk, cheese and eggs, and coffee, tea, and cocoa.
However, on a month-on-month basis, the food sub-index increased by 1.07 percent in November, up by 0.16 percent points from 0.91 percent recorded in October.
Also, the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 13.85 percent in November, up by 0.61 percent when compared with 11.05 percent recorded in November 2020.
He added that on a month-on-month basis, the core sub-index increased by 1.26 percent in November.
“This was down by 0.46 percent when compared with 0.80 percent recorded in October.
“The highest increases were recorded in prices of gas, liquid fuel, other services such as garments, vehicle spare parts, passenger transport by road, non-durable household goods, jewelry, clocks, and watches.
“Others are passenger transport by air, pharmaceutical products, appliances, articles, and products for personal care, cleaning, repair and hire of clothing and fuels and lubricants for personal transport equipment.”
The Nigerian Communications Commission (NCC) says it has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the country.
Dr. Ikechukwu Adinde, NCC’s spokesman explained that the simulated auction held on Friday in Abuja was preparatory to the main auction scheduled to take place on Monday.
He said the conduct of the simulation exercise was in line with the requirements stipulated in the Information Memorandum (IM) for the 3.5 GHz spectrum auction.
The IM is a document that defines the process for the licensing of the 3.5 GHz spectrum band earlier published on the commission’s website at the inception of the auction process.
“Using the Ascending Clock Auction System for the mock session, the three qualified bidders for the 3.5 GHz spectrum, namely MTN Nigeria, Mafab Communications Ltd, and Airtel Networks Ltd, participated in the software-based simulated auction exercise,” the statement said.
“Following the successful mock auction, the stage is set for the commission to license two slots in the 3.5 GHz spectrum band expected to be picked by successful bidders at the end of the Main Auction on Monday, December 13, 2021.
“The auction on Monday will mark a turning point in Nigeria’s determination to harness the benefits of 5G for the nation’s socio-economic growth as the concrete roll-out of 5G commences in 2022.”
Chairman of NCC Board of Commissioners, Professor Adeolu Akande; the Executive Vice Chairman and Chief Executive Officer of the commission, Professor Umar Danbatta; Executive Commissioner (Technical Services), Ubale Maska, and the Executive Commissioner (Stakeholder Management), Adeleke Adewolu, were among those who witnessed the exercise.
Others include representatives from the bidding companies, senior management staff from relevant departments of the commission, technical consultants, software consultants, legal consultants, and other external observers.
In a brief remark at the mock auction, Danbatta said the commission had taken all necessary steps to ensure due diligence on the credibility of the consultants and to safeguard the integrity of the software solution being used to carry out the implementation of the national assignment.
“This is consistent with the open, credible transparent, and fair manner by which the commission is known to have conducted previous auction processes, which have been locally and globally applauded,” Danbatta was quoted as saying in the statement.
In order to ensure a fail-proof process, Adinde said the NCC also carried out a simulation of the manual process of the auction, aside from the electronic mock.
He explained that this was to make bidders familiar with the manual auction in case of any circumstances on the main action day that may warrant a need to switch to the manual auction.
“It is pertinent to note that the two forms- electronic and manual- are clearly stated in the IM and they follow the same process,” the statement added.
“Representatives of the bidding companies, the commission, the consultants, and other observers at the mock auction expressed satisfaction with the conduct of the simulation exercise, which also provided an opportunity for the commission to perfect the auction process ahead of the main auction.
“The commission had commenced the process for the auction of the 5G spectrum in the last quarter of the 2021 and had, since then, carried out a number of activities ahead of the main auction.”
The retail price of Premium Motor Spirit, popularly known as petrol, may be sold above the projected N340/litre in February 2022 once the Federal Government stops its subsidy on the commodity, oil marketers said on Tuesday.
Findings show that both independent and major oil marketers were perfecting plans to begin PMS importation soon as the government ends the subsidy regime.
They have raised concern over the unstable condition in foreign exchange rates and how this would affect petrol price in the coming year.
The Nigerian National Petroleum Company Limited has been the sole importer of petrol into Nigeria for about four years. The inability of marketers to effectively access the United States dollar for the purpose of importing refined crude oil forced them to stop.
The Group Managing Director of NNPC, Mele Kyari, last week, announced at a World Bank event in Abuja that beginning from February 2022, the price of petrol would range between N320 and N340 per litre by which time the Federal Government have removed the subsidy.
He stated that Nigeria would cease to subsidize the commodity in the first quarter of next year, adding that subsidy would have been removed this year but was suspended owing to certain conditions.
According to PUNCH, some marketers on Tuesday stated that the cost of petrol would be above the amount projected, which is between N320 – N340/litres if there was no improvement in the foreign exchange rate.
According to Dealers under the aegis of Independent Petroleum Marketers Association of Nigeria and Petroleum Products Retail Outlets owners Association of Nigeria stated their readiness to import petrol, however, also noted the cost of the commodity would be high in February.
IPMAN and PETROAN members own bulk of the filling stations across the country and currently make purchases from depots before selling to final consumers at their various retail outlets.
“Yes, if there is no subsidy, some marketers can import, but the only thing is that it will be costly. The price will be higher than the projected cost because of the exchange rate,” the National Vice President, IPMAN, Abubakar Maigandi, stated.
He added, “The challenge of accessing forex will definitely affect imports because over 90 per cent of petrol that will be consumed across the country will depend on importation. Also this is because the refineries are not functioning.”
The National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, also stated that the foreign exchange rate would determine the cost of petrol from next year after subsidy removal.
He said, “If the Federal Government says there is no going back on subsidy removal this time round, which is a challenge that has dragged on for about 30 years, then it means that they are going to liberalise the market.
“By liberalising the market it will now help independent and major marketers to be able to freely import petroleum products from any source so that products will be available in Nigeria.”
He added, “However, it is pertinent to note the forces of demand and supply will determine the price of the commodity in Nigeria. So literally, whatever the dollar rate is in the international and local markets will pose the actual challenge to marketers
“The issue of black market and official exchange rates is a serious challenge that we foresee. But we believe that the Federal Government is doing something by meeting with the bureau d’change operators on this, so that whatever is obtainable at the banks is what you get in the open market.”
On whether the forex issue could lead to a higher price than the projected N340/litre, Chinedu replied, “Aside from the adverse effects of the removal of subsidy on the wellbeing of Nigerians, we will, of course, see a price that is higher than what they project.
“The price will be higher. It will be higher because the dollar to a large extent determines the price of petroleum products. If the dollar goes up, the price of petrol will increase, and vice versa.”
The President PETROAN, Billy Gillis-Harry, confirmed the position of IPMAN, as he, however, explained that members of his association were ready to import the commodity.
He said, “At PETROAN we already have a vehicle that is in place to start importation petroleum products, gas and other products. We encourage the government to completely remove subsidy.
On the possibility of higher pump price than the projected N340/litre, Gillis-Harry said, “That is why we said that every single thing about petroleum products should be premised on the forces of the market.
“The forces of demand and supply should determine the price.”
The spokesperson of NNPC, Garba-Deen Muhammad, told our correspondent that the issue of petrol pricing was not the function of the oil firm.
“Price issues are policy matters. NNPC does not fix price, it has no mandate. It operates in the sector as a business concern governed by CAMA Laws,” he stated.
Despite interventions and funding channeled to the distribution of prepaid meters across the country, about six million electricity consumers are still being given estimated billing.
A report by the Nigerian Electricity Regulatory Commission (NERC) in January this year had put the number of meters contracted through the Meter Asset Providers scheme (MAPS) and National Mass Metering Programme (NMMP) at 7,588,972, indicating that over 7.5 million customers will be needing prepaid meters had the time.
However, The PUNCH gathered from the Federal Ministry of Power on Tuesday that the deployment of meters through the NMMP had risen to 750,000.
A combination of meter deployment by both schemes showed that about 1.26 million meters had been deployed out of the over 7.5 million unmetered customers captured by the NERC.
Operators in the sector explained that the deployment of meters this year was basically through the NMMP, as the MAP scheme was not fast in meter provision.
The National Mass Metering Programme, funded by the Central Bank of Nigeria, was instituted in September 2020 to increase the rate of metering through the provision of free meters.
The Meter Asset Providers scheme, on the other hand, took effect on April 3, 2018, introducing meter providers as a new set of service providers in the Nigeria Electricity Supply Industry.
This came as power distributors told our correspondent that meters provided under Phase Zero of the NMMP had so far been deployed to customers.
They stated that many Discos currently lacked meters as only a few were on ground for distribution to the over six million unmetered power users nationwide.
“Under Phase Zero, they (government) had a particular number that they gave to each Disco and the target was to provide about one million meters,” an official with the Association of Nigerian Electricity Distributors, who pleaded not to be named as he was not authorised to speak on the matter, said.
The official added, “Ikeja Disco received over 100,000 meters; Ibadan Disco also got over 100,000 meters; while some others got about 90,000 meters, as the allocations were based on the Disco.”
Explaining how the free meters under Phase Zero of the NMMP were acquired, the ANED official stated that the government worked with meter manufacturers to know their respective capacities.
Federal Government will train 5,000 young Nigerians as meter installers and technicians.
The programme is being implemented under the Presidential Metering Initiative (PMI).
The initiative forms part of President Bola Tinubu’s Renewed Hope Agenda on job creation.
It aims to eliminate estimated billing by accelerating the deployment of electricity meters nationwide.
The programme is expected to improve consumer protection while strengthening Nigeria’s electricity value chain.
Main Story
The Federal Government has announced plans to train 5,000 young Nigerians as certified meter installers and technicians under The Power Force, a flagship skills development programme established through the Presidential Metering Initiative (PMI).
The initiative is designed to address Nigeria’s persistent electricity metering deficit while creating sustainable employment opportunities for young people nationwide.
According to the government, the programme aligns with President Bola Tinubu’s Renewed Hope Agenda, which places youth employment and economic empowerment at the centre of national development.
The Presidential Metering Initiative was established to close the country’s metering gap, eliminate estimated billing, protect electricity consumers and improve the efficiency of the Nigerian Electricity Supply Industry.
By developing a skilled workforce capable of installing and maintaining electricity meters nationwide, the government aims to accelerate meter deployment, improve transparency in electricity billing and strengthen confidence in the power sector.
Officials noted that the initiative represents a dual intervention—addressing unemployment among young Nigerians while solving one of the most persistent challenges confronting electricity consumers.
The Issues
Nigeria’s electricity sector has long struggled with a significant metering deficit, leaving millions of customers on estimated billing and fuelling disputes between electricity distribution companies and consumers.
The shortage of trained technical personnel has also slowed meter installation, limiting efforts to improve revenue collection, customer satisfaction and overall market efficiency.
At the same time, youth unemployment remains a major socioeconomic challenge, underscoring the need for targeted skills acquisition programmes that create pathways to decent work.
What’s Being Said
President Bola Tinubu said job creation for young Nigerians remains a key priority of his administration under the Renewed Hope Agenda.
According to the President:
“Jobs for our young people remain central to our Renewed Hope Agenda. Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers, and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force.”
What’s Next
The Federal Government is expected to commence the recruitment and training of the first batch of participants under The Power Force programme.
Upon completion of the training, beneficiaries are expected to support nationwide meter installation efforts, helping to reduce the metering gap, improve service delivery and create a pool of certified technical professionals for Nigeria’s electricity sector.
Stakeholders will also monitor the programme’s impact on employment generation, electricity access and the reduction of estimated billing across the country.
Bottom Line
The Presidential Metering Initiative combines youth empowerment with power sector reform by equipping 5,000 Nigerians with technical skills while accelerating the deployment of electricity meters. If successfully implemented, the programme could reduce estimated billing, strengthen consumer confidence and create sustainable jobs within Nigeria’s electricity industry.
Dangote Petroleum Refinery has announced a new N50 per litre reduction in the ex-depot price of Premium Motor Spirit (PMS).
The latest cut brings the cumulative decrease in the refinery’s PMS price to N200 per litre since May 30, 2026, lowering the gantry price to N1,075.
Over the same month-long period, ex-depot prices for Automotive Gas Oil (AGO) and Jet A1 aviation fuel dropped by N300 and N520 per litre, respectively.
The company explained that current supplies are processed from older crude inventories bought at higher rates, averaging $124.80 per barrel in May and $95.25 in June.
Main story
Dangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking its fourth price cut within a month. The company stated that it continues to pass lower production costs to consumers despite still processing crude oil purchased at significantly higher international prices.
The latest N50 per litre reduction brings the cumulative decrease in the refinery’s PMS ex-depot price to N200 per litre since May 30, 2026, reducing the gantry price to N1,075. Over the same period, the refinery has also reduced the ex-depot price of Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre.
The company said the successive reductions demonstrate its commitment to ensuring Nigerians benefit from favourable market developments while maintaining the long-term sustainability of domestic refining operations. In a statement issued on Thursday, the Dangote Refinery explained that petroleum product pricing cannot mirror daily movements in international crude oil markets because crude is purchased weeks, and sometimes months, before it is processed. According to the refinery, the petroleum products currently being supplied to the market are being produced from crude inventories acquired during periods of substantially higher prices.
It disclosed that the average landed cost of crude processed stood at approximately $124.80 per barrel in May and $95.25 per barrel in June, compared with the current international benchmark of about $71.01 per barrel. The refinery also clarified that its crude procurement costs are not based solely on the headline ICE Brent benchmark commonly quoted in the media. Rather, crude is purchased on a Dated Brent basis together with applicable market premiums, freight, and logistics costs, resulting in actual feedstock costs that differ materially from benchmark prices.
Despite the sharp increase in crude acquisition costs during the period, Dangote Refinery said it deliberately refrained from transferring the full impact to consumers, choosing instead to absorb a significant portion of the additional costs in order to support market stability and cushion Nigerians from the volatility in global energy markets. The company noted that this pricing approach has helped to keep petroleum product prices in Nigeria below those prevailing in neighbouring countries, even after accounting for applicable taxes. It added that as lower-priced crude cargoes progressively enter its production cycle, the refinery has begun systematically passing the benefits to the market through phased price reductions.
The refinery emphasized that Nigeria is now benefiting from the stabilising role of domestic refining capacity. The facility currently supplies volumes sufficient to meet national demand, helping to strengthen energy security, eliminate dependence on imports, conserve foreign exchange, and provide greater price stability for consumers and businesses.
The company expressed confidence that if international crude prices remain favourable and lower-cost feedstock continues to replace higher-priced inventories, Nigerians should expect further moderation in petroleum product prices. Dangote Petroleum Refinery reiterated its commitment to supplying high-quality, internationally certified petroleum products at competitive prices while supporting Nigeria’s economic growth and the long-term development of the country’s downstream petroleum sector.
The issues
The pricing lag highlights the operational complexity of oil refining, where global benchmark drops do not instantly translate to domestic relief due to forward-purchased feedstock. While consumers demand immediate parity with falling global oil prices, the refinery has had to manage high-cost inventories from May and June while absorbing losses to protect local market stability.
What’s being said
“Today’s N50 per litre reduction is the fourth price cut in one month, bringing cumulative reductions to above N200 per litre on PMS. This approach ensures that pricing decisions are anchored on actual production economics and inventory costs rather than short term fluctuations in international oil markets.” — Dangote Petroleum Refinery Statement
What’s next
Consumers can anticipate further phased price reductions across PMS, AGO, and Jet A1 fuels in the coming weeks as cheaper crude shipments bought closer to the current $71 benchmark progressively hit the refinery’s production lines.
Bottom line
Dangote Refinery is leveraging its massive domestic refining capacity to buffer local consumers from international price volatility, systematically cutting fuel prices as cheaper inventory enters production, while simultaneously driving national energy self-sufficiency.
COSET called for stronger environmental protection and justice for communities affected by pollution and climate change.
Environmental advocates described climate change as a human rights and security issue threatening livelihoods in the Niger Delta.
Amnesty International urged urgent action to investigate and stop the suspected gas leakage in Rivers State’s Bille community.
Speakers called for environmental restoration, renewable energy investment and greater accountability from oil companies.
Main story
A Coalition for Socio-Ecological Transformation of Nigeria (COSET) has called on governments, lawmakers, civil society organisations and host communities to strengthen environmental protection and ensure justice for victims of pollution and climate change.
The call was made during the three-day Niger Delta Climate Change Conference organised by COSET in collaboration with Oilwatch International, the Lekeh Development Foundation and the Friedrich Ebert Stiftung in Port Harcourt.
Speaking at the conference, Executive Director of the Health of Mother Earth Foundation, Nnimmo Bassey, said climate change and persistent environmental pollution had become major threats to the survival, security and livelihoods of communities across the Niger Delta.
Presenting a paper titled “The Niger Delta at a Crossroads: Climate, Conflict and Survival,” Bassey argued that climate change should be treated as a human security issue rather than simply an environmental challenge.
He said its effects extended beyond rising temperatures to include health risks, food insecurity, loss of livelihoods and threats to human dignity.
Bassey urged governments to prioritise environmental restoration, climate resilience and sustainable development while encouraging host communities to remain united in demanding environmental justice.
Also speaking, Executive Director of We the People (WTP), Ken Henshaw, described climate change as a human rights issue, saying pollution, gas flaring and oil spills continued to worsen inequality, insecurity and poverty in the Niger Delta.
He noted that although Africa contributes the least to global greenhouse gas emissions, it suffers some of the most severe consequences of climate change.
Henshaw criticised multinational oil companies for leaving behind polluted sites without proper remediation or decommissioning and called for greater transparency in divestment agreements to ensure environmental liabilities are addressed.
He also advocated increased investment in renewable energy, agroecology and indigenous knowledge systems instead of continued dependence on fossil fuel extraction.
In addition, Henshaw called for reparations and environmental restoration to address decades of ecological damage in the Niger Delta and urged stakeholders to use the Niger Delta Manifesto for Ecological Justice as a framework for advancing environmental justice, climate resilience and human rights.
Human rights researcher with Amnesty International, Mark Dummett, also called for urgent government intervention over the suspected gas leakage in Bille Community, Rivers State.
Dummett described the incident as one of the worst pollution cases he had witnessed, saying methane gas bubbling through water wells had exposed residents to serious health risks, including skin rashes and deteriorating eyesight.
He urged the Federal Government, Shell Plc and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to identify the source of the leakage and stop further pollution.
According to him, the leak could be linked to poorly decommissioned oil infrastructure, stressing that both operators and regulators have a responsibility to protect the health, lives and environment of affected communities.
The issues
The Niger Delta continues to face severe environmental challenges arising from oil exploration, gas flaring, oil spills and climate change. Environmental advocates argue that stronger enforcement of environmental standards, restoration of polluted ecosystems and greater accountability from governments and oil companies are essential to protecting communities and promoting sustainable development.
What’s being said
“Climate change should be viewed as a human security challenge affecting health, food security, livelihoods and dignity.” — Nnimmo Bassey, Executive Director, Health of Mother Earth Foundation
“The leak could be linked to poorly decommissioned oil infrastructure, and operators and regulators have a responsibility to safeguard affected communities.” — Mark Dummett, Human Rights Researcher, Amnesty International
What’s next
Participants called for stronger environmental governance, urgent action on pollution incidents such as the suspected gas leakage in Bille, and increased investment in climate resilience and renewable energy as part of broader efforts to address ecological challenges in the Niger Delta.
Bottom line
Environmental advocates are pushing for climate action in the Niger Delta to move beyond policy commitments to concrete measures that restore damaged ecosystems, protect vulnerable communities and hold polluters accountable.
Defence Minister Christopher Musa urged oil and gas stakeholders to support efforts to increase Nigeria’s crude oil production.
He said stronger collaboration is needed to protect oil infrastructure and combat crude oil theft.
Operation Delta Safe pledged sustained operations against pipeline vandalism and economic sabotage.
Industry operators committed to deeper cooperation through intelligence sharing and regular consultations.
Main story
The Minister of Defence, retired Gen. Christopher Musa, has called on stakeholders in the oil and gas industry to strengthen collaboration with the Federal Government to increase Nigeria’s crude oil production and protect critical energy infrastructure.
Musa made the call during a stakeholders’ meeting at the Headquarters of the 6 Division, Nigerian Army, Port Harcourt, according to a statement issued on Wednesday by the division’s spokesperson, Lt.-Col. Umar Adam.
The meeting focused on improving crude oil production, enhancing the security of critical national assets and promoting cooperation between security agencies and industry operators.
Musa described the oil and gas sector as central to Nigeria’s economic growth and national development, saying the country’s production targets could only be achieved through sustained collaboration among the Armed Forces, security agencies, regulators and industry stakeholders.
“Increased crude oil production remains vital to national development and economic stability.
“To achieve our production targets, there must be greater information sharing, mutual trust and collective commitment to protecting oil infrastructure,” he said.
The minister also urged stakeholders to support ongoing efforts to eliminate crude oil theft, pipeline vandalism and other forms of economic sabotage that continue to undermine national revenue.
The Commander of the Joint Task Force (South South), Operation Delta Safe (OPDS), Rear Adm. Olugbenga Oladipo, reaffirmed the military’s commitment to protecting critical national assets.
Oladipo said troops under Operation Delta Safe would continue to conduct operations professionally while sustaining pressure on crude oil thieves, pipeline vandals and other criminal elements operating in the Niger Delta.
The General Officer Commanding (GOC), 6 Division, Nigerian Army, Maj.-Gen. Emmanuel Emekah, assured stakeholders that the military would continue to provide a secure environment for legitimate oil exploration and production activities.
He also urged oil companies to honour the provisions of their Memoranda of Understanding (MoUs) with host communities.
“Adherence to such agreements will promote trust, peaceful coexistence and stronger collaboration among stakeholders,” Emekah said.
According to Adam, the meeting also gave industry operators an opportunity to outline operational challenges affecting production and seek closer cooperation with security agencies.
He said participants expressed optimism that stronger collaboration would improve operational efficiency, enhance the protection of oil infrastructure and encourage increased investment in the sector.
Adam added that operators pledged to deepen cooperation through regular consultations, intelligence sharing and coordinated security measures.
The issues
Crude oil theft, pipeline vandalism and attacks on oil infrastructure continue to constrain Nigeria’s oil production, reducing government revenue and discouraging investment. The Federal Government has prioritised stronger security collaboration as part of efforts to raise production and improve energy sector performance.
What’s being said
“To achieve our production targets, there must be greater information sharing, mutual trust and collective commitment to protecting oil infrastructure.” — Christopher Musa, Minister of Defence
“Adherence to such agreements will promote trust, peaceful coexistence and stronger collaboration among stakeholders.” — Emmanuel Emekah, General Officer Commanding, 6 Division
What’s next
Security agencies are expected to sustain operations against crude oil theft while strengthening engagement with industry operators. Oil companies have also committed to closer collaboration through intelligence sharing and coordinated security efforts.
Bottom line
The Federal Government is seeking stronger collaboration between security agencies and the oil industry to curb crude oil theft, protect critical infrastructure and support efforts to increase Nigeria’s crude oil production.
NEPC reaffirmed its commitment to supporting exporters through stronger collaboration with industry stakeholders.
Nigeria’s non-oil exports rose to a record $6.1 billion in 2025, with exports reaching 120 countries.
The council said outstanding Export Expansion Grant (EEG) claims for 2021 and 2022 are nearing resolution.
Nigeria will host the fifth Intra-African Trade Fair (IATF) in Lagos in November 2027.
Main story
The Nigerian Export Promotion Council (NEPC) has reaffirmed its commitment to strengthening non-oil exports by deepening collaboration with exporters, manufacturers and other industry stakeholders as Nigeria seeks to sustain record export growth.
The Executive Director and Chief Executive Officer of NEPC, Nonye Ayeni, stated this during a stakeholders’ meeting at the council’s South-West Regional Office, according to a statement issued on Thursday by the council’s Head of Corporate Communications, Sadiq Aliu.
Ayeni said the engagement brought together exporters, manufacturers, processors, merchants, government agencies and organised private sector representatives to identify industry challenges, explore new opportunities and strengthen partnerships.
She said Nigeria recorded its highest-ever non-oil export earnings in 2025, with exports valued at $6.1 billion, up from $5.46 billion in 2024.
According to her, Nigerian exporters shipped more than 8.02 million metric tonnes of products comprising 281 non-oil products to 120 countries during the year.
Ayeni commended exporters for their resilience, saying their efforts had strengthened Nigeria’s position in global export markets despite prevailing economic challenges.
She added that the council had continued to support exporters through training programmes, mentorship, product certification, market access initiatives and business development services.
On the Export Expansion Grant (EEG), Ayeni said progress had been made in resolving outstanding claims for 2021 and 2022.
She expressed optimism that the Federal Government would announce payment of the outstanding claims in the coming weeks.
The NEPC boss also announced that Nigeria would host the fifth Intra-African Trade Fair (IATF) in Lagos from November 5 to November 11, 2027.
According to her, the event is expected to attract more than 100,000 visitors, about 2,500 exhibitors, and participants from over 100 countries.
She said the trade fair is projected to facilitate $50 billion in trade and investment deals while providing a platform for businesses to expand opportunities under the African Continental Free Trade Area (AfCFTA).
Ayeni urged stakeholders to sustain collaboration with the council to boost non-oil exports, create jobs, increase foreign exchange earnings and improve Nigeria’s export competitiveness.
The issues
Nigeria has been pursuing export diversification to reduce dependence on crude oil revenues. Strengthening non-oil exports is seen as critical to boosting foreign exchange earnings, creating jobs and expanding the country’s participation in regional and global trade, particularly under the African Continental Free Trade Area.
What’s being said
“We organised this meeting to hear directly from exporters, understand their challenges, identify opportunities and strengthen partnerships for improved performance of non-oil exports.” — Nonye Ayeni, Executive Director/CEO, NEPC
“We are confident that the Federal Government will announce payment of the outstanding Export Expansion Grant claims in the coming weeks.” — Nonye Ayeni
What’s next
The NEPC will continue implementing exporter support programmes while working with stakeholders ahead of Nigeria’s hosting of the fifth Intra-African Trade Fair in 2027. Exporters are also awaiting the Federal Government’s decision on outstanding EEG payments.
Bottom line
With non-oil export earnings reaching a record $6.1 billion in 2025, the NEPC is intensifying collaboration with exporters and industry stakeholders to sustain growth, improve competitiveness and expand Nigeria’s presence in international markets.
A Federal Government delegation delivered humanitarian relief to Bille community in Rivers State following the ongoing gas seepage.
The government pledged potable water, healthcare support, firefighting equipment and power interventions while investigations continue.
The NUPRC said an international firm has been engaged to determine the source of the seepage, with fieldwork expected before the end of July.
Rivers Governor Siminalayi Fubara directed the immediate upgrade of the community’s primary healthcare centre.
Main story
The Federal Government has delivered emergency humanitarian assistance to the Bille community in Degema Local Government Area of Rivers State and pledged a comprehensive response to the ongoing gas seepage affecting the area.
The intervention was led by the Minister of State for Petroleum Resources (Gas), Sen. Ekperikpe Ekpo, alongside the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), oil and gas operators and other stakeholders, according to a statement issued on Thursday by the commission’s Head of Media and Corporate Communications, Eniola Akinkuotu.
The delegation first visited Rivers State Governor Siminalayi Fubara before proceeding to the Bille community, where relief materials were distributed to affected residents.
During the visit, Fubara commended the coordinated response by the Federal Government and industry stakeholders, assuring residents that their concerns would receive urgent attention.
“The federal government is doing everything possible to ensure that the gas seepage is brought under control. The requests for potable water, healthcare and firefighting support have been noted and will be addressed,” the governor said.
He also directed the immediate upgrade of the community’s primary healthcare facility to improve its capacity to respond to medical emergencies arising from the incident.
Addressing the community at the palace of the Amanyanabo of Bille Kingdom, King Ingo Herbert, Ekpo said investigations into the source of the gas seepage were still underway.
He pledged the provision of potable water, intensive medical outreach and medical consumables, additional firefighting equipment and support for electricity supply.
The minister also reaffirmed the government’s commitment to resolving the incident and restoring environmental safety.
“We are fully committed to resolving the issue to ensure the environment is safe and properly remediated,” Ekpo said.
The Commission Chief Executive of the NUPRC, Mrs Oritsemeyiwa Eyesan, said the regulator had carried out preliminary investigations but was proceeding cautiously to avoid worsening the situation.
“We have carried out preliminary investigations. However, we are carefully managing the situation to prevent further hazards before any intervention.
“We have engaged an international firm to undertake the final studies, with fieldwork expected to commence before the end of July,” she said.
Eyesan added that technical experts from across the oil and gas industry were working with the commission to identify the source of the seepage through a comprehensive scientific investigation.
She also disclosed that preliminary assessments showed the community’s first aquifer had been contaminated, making the provision of safe drinking water an immediate priority.
“While we work towards a sustainable long-term solution, we will provide potable water as quickly as possible,” she said, adding that the commission would continue to provide updates on the investigation.
Chairman of the Bille Council of Chiefs, Alabo Dokubo, appealed for a swift resolution of the crisis and urged the government to deliver on its commitments so the community could fully benefit from its oil and gas resources.
The issues
The gas seepage has raised environmental and public health concerns in the Bille community, prompting a coordinated response from the Federal Government, regulators and industry operators. While humanitarian assistance has begun, authorities say technical investigations are still ongoing to determine the source of the seepage before permanent remediation measures can be implemented.
What’s being said
“The federal government is doing everything possible to ensure that the gas seepage is brought under control.” — Siminalayi Fubara, Governor of Rivers State
“We have engaged an international firm to undertake the final studies, with fieldwork expected to commence before the end of July.” — Oritsemeyiwa Eyesan, NUPRC Commission Chief Executive
What’s next
The NUPRC expects the international investigation team to begin field studies before the end of July while emergency interventions, including potable water supply, medical services and firefighting support, are rolled out to affected residents.
Bottom line
The Federal Government has combined immediate humanitarian assistance with a technical investigation into the Bille gas seepage, promising further support while experts work to identify the source of the incident and determine long-term remediation measures.
Nigeria has been admitted into the International Energy Agency (IEA) as an Association Country.
The government says the partnership will strengthen energy security, gas development, electricity access and industrialisation.
IEA Executive Director Fatih Birol described Nigeria’s admission as a milestone for global energy governance.
Nigeria becomes the latest member of the IEA’s Association Programme, which now represents more than 80% of global energy demand.
Main story
Nigeria has officially joined the International Energy Agency (IEA) as an Association Country, a move the Federal Government says will strengthen the country’s energy transition, improve access to global expertise and deepen its role in international energy governance.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the admission as a major milestone in Nigeria’s efforts to achieve universal energy access, industrialisation and sustainable energy development.
In a statement issued on Thursday in Abuja by his spokesperson, Louis Ibah, Ekpo said the unanimous decision by the IEA Governing Board reflected Nigeria’s growing strategic importance in the global energy sector.
He said the partnership would provide Nigeria with greater access to global research, policy expertise and technical cooperation in areas including energy security, investment mobilisation, gas development, electricity access and sustainable energy solutions.
“I am delighted by the decision of the IEA members to officially welcome Nigeria into the IEA family as an Association Country. It is an honour for Nigeria to join this leading global energy agency,” the minister said.
Ekpo added that the collaboration would support Nigeria’s ambition to build a more resilient, competitive and sustainable energy sector while encouraging other African countries to strengthen engagement with the agency.
Welcoming Nigeria into the organisation, IEA Executive Director Fatih Birol described the development as an important milestone for both the agency and the international energy community.
He said Nigeria’s membership recognised its status as Africa’s most populous country and a major global energy producer.
“I am thrilled that Nigeria is joining the IEA. It is Africa’s most populous country and a major international energy player. Nigeria becoming part of the world’s energy authority marks an important advance in global energy governance,” Birol said.
He also acknowledged President Bola Tinubu and Ekpo for supporting closer collaboration with the agency, noting that the partnership would help Nigeria strengthen energy security, expand electricity access and accelerate clean cooking initiatives.
Birol further highlighted Nigeria’s increasing role in global energy markets, pointing to recent growth in refined fuel exports, which he said had helped improve the resilience of African and international fuel markets during periods of supply disruption.
He also noted Nigeria’s emergence as one of the world’s fastest-growing markets for decentralised solar energy solutions as the country continues efforts to expand electricity access.
The issues
The IEA’s Association Programme brings together major energy-producing and energy-consuming countries to cooperate on energy security, policy development and the transition to cleaner energy systems. Nigeria’s admission strengthens Africa’s representation within the organisation and provides the country with greater influence in shaping global energy policy.
What’s being said
“This partnership will provide Nigeria with greater access to global energy expertise, research and policy insights while strengthening collaboration in areas such as energy security, investment mobilisation, gas development, electricity access and sustainable energy solutions.” — Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas)
“Nigeria becoming part of the world’s energy authority marks an important advance in global energy governance.” — Fatih Birol, IEA Executive Director
What’s next
Nigeria is expected to deepen collaboration with the IEA on energy policy, investment, gas development, renewable energy deployment, electricity access and clean cooking as part of its broader energy transition agenda.
Bottom line
Nigeria’s admission into the International Energy Agency marks a significant step in its global energy engagement, giving the country greater access to international expertise while strengthening its position in shaping the future of energy security and sustainable development.
Spain defeated Austria 3-0 to qualify for the Round of 16 at the 2026 FIFA World Cup.
Mikel Oyarzabal scored twice, while Pedro Porro added Spain’s second goal.
Marc Cucurella provided two assists in an impressive all-round performance.
Spain remain the only team yet to concede a goal at the tournament.
Main story
Spain produced another commanding display at the 2026 FIFA World Cup, defeating Austria 3-0 to book their place in the Round of 16 with a performance that underlined their status as one of the tournament favourites.
La Roja dominated possession from the opening whistle, patiently probing Austria’s defence before eventually breaking the deadlock late in the first half.
Mikel Oyarzabal gave Spain the lead in the 36th minute, calmly finishing after receiving a precise pass from Marc Cucurella following a well-worked team move.
Austria attempted to change the momentum after the break, introducing Carney Chukwuemeka and Florian Grillitsch at halftime to inject fresh energy into midfield.
Coach Ralf Rangnick made further attacking substitutions in the 60th minute, bringing on Marko Arnautovic and Sasa Kalajdzic as Austria searched for an equaliser.
Despite the changes, Spain remained defensively organised and continued to control the contest.
Pedro Porro doubled Spain’s advantage in the 66th minute, finishing confidently after being set up by Alex Baena to put the match beyond Austria’s reach.
Spain coach Luis de la Fuente then rotated his squad, introducing Ferran Torres, Mikel Merino and Gavi while maintaining the team’s attacking rhythm and control.
Austria’s frustrations grew late in the game as Stefan Posch was booked before being substituted for Alexander Prass.
Oyarzabal completed his brace in the 89th minute, once again converting from a Marc Cucurella assist to cap an outstanding individual performance.
Spain comfortably managed the closing stages, with Fabian Ruiz and Marc Pubill coming on during stoppage time to preserve the clean sheet.
Following the victory, Luis de la Fuente praised his players’ discipline, teamwork and intensity.
The result means Spain progress to the Round of 16 after extending their impressive defensive record, remaining the only team yet to concede a goal at the 2026 FIFA World Cup.
Austria, meanwhile, bowed out of the tournament after being comprehensively outplayed.
The issues
Spain continue to combine defensive solidity with attacking fluency, making them one of the strongest contenders for the World Cup title. Their ability to dominate possession while remaining defensively compact has set them apart from many of the tournament’s leading teams.
What’s next
Spain advance to the Round of 16, where they will look to extend their unbeaten run and preserve their perfect defensive record as the knockout stage intensifies.
Bottom line
Spain delivered one of their most complete performances of the tournament, with Mikel Oyarzabal’s brace and Marc Cucurella’s creativity powering a convincing 3-0 victory that keeps their World Cup ambitions firmly on track.
Access Holdings and Coronation Group hosted a private reception at Tate Modern to mark the success of the Nigerian Modernism exhibition.
The exhibition attracted more than 180,000 visitors and featured nearly 300 works by over 50 Nigerian artists.
Organisers said the exhibition expanded global awareness of Nigerian art through media, education and scholarly engagement.
Access Holdings Chairman Aigboje Aig-Imoukhuede said the exhibition strengthened cultural identity and Nigeria’s cultural diplomacy.
Main story
Access Holdings Plc and Coronation Group have celebrated the success of the Nigerian Modernism exhibition at Tate Modern, London, describing it as a landmark cultural initiative that expanded global appreciation of Nigerian art and strengthened the country’s cultural diplomacy.
The organisations hosted a private reception at the museum on Wednesday following the exhibition’s successful run between Oct. 10, 2025, and May 8, 2026.
According to a statement issued by the organisers on Thursday, the exhibition attracted more than 180,000 visitors and featured nearly 300 works by over 50 Nigerian artists spanning five decades of artistic production.
The organisers said the exhibition also reached millions of people globally through media coverage, digital engagement, educational programmes and scholarly discussions, helping to broaden international understanding of Nigerian and African modern art.
Chairman of Access Holdings and Coronation Group, Mr. Aigboje Aig-Imoukhuede, said one of the exhibition’s most significant achievements was its impact on young people of African heritage.
“One of the aspects of this exhibition that stands out most for me is the opportunity we created for nearly 2,800 students.
“For many of these young people, the exhibition inspired a deeper appreciation of their heritage, reinforcing their sense of identity and pride in their African roots,” he said.
Aig-Imoukhuede said the exhibition also demonstrated the role of culture in shaping national identity and strengthening international engagement.
“I have long believed that great nations are built at the intersection of financial, knowledge and cultural capital,” he said.
He recalled President Bola Tinubu’s private visit to the exhibition during his trip to London, describing it as an example of culture’s growing role in diplomacy.
“It demonstrated the unique role culture can play in strengthening national identity, global engagement and diplomacy,” he added.
Interim Director of Tate Modern, Ms. Karin Hinsbo, described Nigerian Modernism as the first exhibition of its kind to present the story of the movement in a United Kingdom gallery.
“Nigerian Modernism brought together the works of 50 artists across 50 years, combining African and European traditions through diverse artistic expressions,” she said.
Hinsbo thanked Access Holdings and Coronation Group for supporting what she described as a landmark exhibition.
The organisers highlighted seven historic wooden sculptures by renowned Nigerian artist Ben Enwonwu as one of the exhibition’s major attractions.
Originally commissioned in 1960 for the Daily Mirror in London, the sculptures are now part of the Access Holdings Art Collection.
They added that the exhibition had strengthened scholarship on African modernism, fostered international collaborations and introduced Nigerian art to broader global audiences.
The issues
As Nigeria seeks to expand its global cultural influence, exhibitions such as Nigerian Modernism are increasingly becoming tools of cultural diplomacy. Beyond showcasing artistic excellence, they help preserve heritage, shape international perceptions of the country and create opportunities for education, tourism and cultural exchange.
What’s being said
“For many of these young people, the exhibition inspired a deeper appreciation of their heritage, reinforcing their sense of identity and pride in their African roots.” — Aigboje Aig-Imoukhuede
“Nigerian Modernism brought together the works of 50 artists across 50 years, combining African and European traditions through diverse artistic expressions.” — Karin Hinsbo
What’s next
The success of the exhibition is expected to encourage further international collaborations involving Nigerian artists and cultural institutions, while strengthening efforts to position Nigerian art on the global stage.
Bottom line
The Nigerian Modernism exhibition has become one of the most successful international showcases of Nigerian art, drawing large audiences while reinforcing culture’s growing role in education, diplomacy and Nigeria’s global identity.
The Federation of Tourism Associations of Nigeria (FTAN) is studying the Nigerian Society of Engineers’ (NSE) institutional framework to strengthen governance and professionalism in the tourism sector.
FTAN said overlapping responsibilities among tourism institutions are weakening accountability and industry coordination.
The NSE attributed its institutional strength to the clear separation of regulatory and professional responsibilities.
Both organisations agreed to deepen collaboration to support sustainable tourism development and economic diversification.
Main story
The Federation of Tourism Associations of Nigeria (FTAN) says it is drawing lessons from the Nigerian Society of Engineers (NSE) as part of efforts to strengthen governance, professionalism and institutional reforms within Nigeria’s tourism sector.
FTAN President, Dr. Aliyu Badaki, disclosed this during a visit by tourism stakeholders to the NSE National Headquarters in Abuja on Thursday.
The visit formed part of FTAN’s Tourism Transformation Mandate (TTM), an initiative aimed at repositioning the tourism sector through stronger institutions, improved governance, enhanced professional standards and reforms capable of driving sustainable growth.
Badaki said the federation was examining the engineering profession’s institutional structure to identify governance practices that could help build a more coordinated and accountable tourism industry.
“We are here to collaborate and learn from the Nigerian Society of Engineers because your institution has built a strong professional structure over the years. That structure continues to earn national and international recognition.
“We believe that learning from your experience will help us build a stronger framework that will benefit the tourism industry, businesses and the nation’s economy,” he said.
According to him, FTAN’s reform agenda seeks to restructure the tourism sector to deliver better outcomes for operators, investors and the wider economy.
He expressed concern over overlapping mandates among tourism institutions, noting that duplication of responsibilities often undermines efficiency, accountability and effective coordination.
Badaki said clearly defining the roles of regulators, professional bodies and operators would strengthen professionalism, minimise institutional conflicts and create a more predictable operating environment for stakeholders.
Responding, NSE President, Mr. Ali Rabiu, commended FTAN for seeking to learn from an established professional institution as it pursues reforms.
Rabiu said the NSE, founded in 1958, had built its reputation through sound governance, collaboration and sustained investment in professional development.
He explained that engineering and tourism were closely connected because engineers provide the infrastructure that supports transportation, hospitality, recreation and destination development.
“Engineering and tourism remain closely connected because engineers design transportation systems, resorts and other infrastructure supporting tourism development,” he said.
Rabiu added that separating regulatory responsibilities from professional representation had strengthened engineering practice in Nigeria.
He explained that while the Council for the Regulation of Engineering in Nigeria regulates engineering practice, the NSE focuses on advocacy, capacity building and professional development.
He assured FTAN of the society’s willingness to share its institutional experience and support efforts to strengthen tourism governance.
Also speaking, the NSE Director of Professional Development, Mr. Babatunde Odunlami, said collaboration among professional bodies remained essential for building stronger institutions and improving professional standards across strategic sectors.
FTAN First Deputy President, Mrs. Susan Akporiaye, thanked the NSE leadership for hosting the delegation and reaffirmed the federation’s commitment to strategic partnerships that would accelerate reforms in the tourism industry.
The visit concluded with the exchange of commemorative gifts between the presidents of both organisations, symbolising their commitment to future collaboration.
The issues
Nigeria’s tourism sector has long faced governance challenges arising from fragmented institutional responsibilities, weak coordination and inconsistent professional standards. FTAN believes adopting stronger governance models from established professional bodies could improve accountability and accelerate reforms needed to unlock tourism’s contribution to economic diversification.
What’s being said
“We believe that learning from your experience will help us build a stronger framework that will benefit the tourism industry, businesses and the nation’s economy.” — Dr. Aliyu Badaki, FTAN President
“Separating regulatory and professional responsibilities has strengthened engineering practice and institutional effectiveness throughout Nigeria’s engineering profession.” — Mr. Ali Rabiu, NSE President
What’s next
FTAN is expected to incorporate lessons from the NSE into its Tourism Transformation Mandate as it continues consultations aimed at strengthening governance, clarifying institutional roles and implementing sector-wide reforms.
Bottom line
FTAN is looking beyond the tourism industry for proven governance models, betting that stronger institutions and clearer professional frameworks will be critical to unlocking the sector’s long-term growth potential.
Dangote Cement recorded a record ₦1.01 trillion profit after tax in 2025, more than double the previous year’s earnings.
Shareholders approved a final dividend of ₦45 per share, representing a 50 per cent increase over 2024.
Company well positioned to hit 25-million-tonne expansion target via M&As and strategic funding.
Management attributed high production costs to dollar-denominated gas prices but said investments in CNG trucks and exports were helping to improve efficiency.
Main story
Dangote Cement Plc has reported a record profit after tax of ₦1.014 trillion for the 2025 financial year, as shareholders approved a final dividend of ₦45 per share.
The financial results were presented at the company’s 17th Annual General Meeting (AGM) held on Thursday in Lagos.
The audited accounts showed that group revenue rose by 20.3 per cent to ₦4.31 trillion, up from ₦3.58 trillion in 2024, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 43.4 per cent to ₦1.98 trillion.
The company said its profit after tax grew by 101.7 per cent to ₦1.014 trillion, supported by stronger operating performance and a 50 per cent reduction in commercial bank borrowings.
Shareholders overwhelmingly approved the proposed ₦45 dividend per share, representing a 50 per cent increase over the ₦30 paid for the previous financial year.
Answering questions on the proposed 25-million-tonne expansion drive across Africa, the Board Chairman, Mr Emmanuel Ikazoboh, said the company was well positioned to achieve the goal through M&As and other strategic funding initiatives. The expansion would take Dangote Cement’s current production capacity of 51.6 million tonnes to over 76 million tonnes within five years.
Also speaking, Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, commended the company for delivering its first ₦1 trillion annual profit after tax.
He also praised management for significantly reducing its borrowings, saying the move had lowered financing costs and strengthened profitability.
Umar further applauded the board for recommending a 50 per cent increase in dividends before asking whether shareholders could expect a similar level of dividend growth in the future.
Management also addressed concerns over cement pricing, explaining that energy accounts for about 60 per cent of manufacturing costs.
Mr Ikazoboh said the company’s ex-depot price is aligned with the current economic realities of the country to make cement as affordable as possible, but lamented that natural gas, one of its major production inputs, is priced in US dollars, making manufacturing costs highly vulnerable to foreign exchange fluctuations.
He urged distributors to remain mindful of these realities in their own pricing, noting that keeping cement affordable along the value chain was key to sustaining demand and supporting the construction sector.
To reduce logistics costs, the company disclosed that it had deployed about 3,000 compressed natural gas (CNG) trucks into its haulage operations.
The AGM also approved the re-election of directors, the appointment of members of the statutory audit committee and authorised the company to pursue a possible secondary listing on the London Stock Exchange.
Independent auditors KPMG Professional Services issued an unmodified opinion on the company’s financial statements.
The issues
Dangote Cement’s record earnings come despite persistent macroeconomic pressures, including foreign exchange volatility, rising energy costs and inflation. While the company has strengthened profitability through debt reduction and exports, shareholders asked that the vision to expand production capacity be matched with a clear roadmap — one they saw as a legacy investment built to benefit generations to come.
What’s being said
”To produce a bag of cement, we need energy to constitute 60% of the cost of producing cement. And to generate energy, we need either gas or coal or diesel. Gas is sold to us in US dollars. And they are always increasing it. And you know the exchange rate between the dollar and the naira. As a result, the price of generating energy is always increasing. So this is why, this is the best we can do. Our ex-depot price is the actual factory cost we control to keep the business bankable, but once it leaves our gates, the final market pricing is driven by independent distributors and logistics layers that we do not directly dictate.” — Mr. Emmanuel Ikazoboh, Chairman of the Board
What’s next
The company is expected to provide more details on its capacity expansion programme as projects progress across Africa while continuing efforts to reduce costs, expand exports and explore a secondary listing on the London Stock Exchange.
Bottom line
Dangote Cement delivered its strongest financial performance on record in 2025, rewarding shareholders with a significantly higher dividend. Attention is now shifting from record profits to whether the company’s next wave of African expansion can sustain growth and continue delivering stronger returns
Nigerian Ports Authority (NPA) and Association of Nigerian Licensed Customs Agents (ANLCA) have agreed to deepen collaboration to improve port operations.
The partnership aims to address persistent congestion on the Apapa and Tin Can Island port access roads.
Both parties discussed strengthening the Electronic Call-Up System (Ètò) to improve truck movement and cargo evacuation.
ANLCA called for greater involvement in the management of the call-up system to curb racketeering and artificial delays.
The NPA reaffirmed its commitment to port modernisation and infrastructure upgrades to sustain operational improvements.
Main Story
The Nigerian Ports Authority (NPA) and the Association of Nigerian Licensed Customs Agents (ANLCA) have agreed to strengthen collaboration aimed at improving ease of doing business, reducing persistent traffic congestion along the Apapa and Tin Can Island port corridors, and accelerating cargo evacuation.
The agreement was reached during a strategic meeting at the NPA headquarters in Marina, Lagos, between the Managing Director of the NPA, Abubakar Dantsoho, and the national leadership of ANLCA, led by its National President, Emenike Nwokeoji.
Speaking during the engagement, Dantsoho commended the management teams of Apapa and Tin Can Island ports for their commitment to improving operational efficiency, noting that their recent recognition among the world’s 20 most improved container ports by the World Bank reflected deliberate reforms undertaken by the authority.
He said the achievement aligned with President Bola Tinubu’s Renewed Hope Agenda and was further reinforced by Nigeria’s growing profile in global maritime governance, following the country’s emergence as President of the Port Management Association of West and Central Africa (PMAWCA) and Vice President for Africa at the International Association of Ports and Harbors (IAPH).
According to Dantsoho, the improved global ranking was the result of strategic reforms, process optimisation and sustained efforts to enhance port performance.
A major focus of the meeting was the Electronic Call-Up System, popularly known as Ètò, which regulates truck movements into and out of the Apapa and Tin Can port complexes.
While acknowledging that the digital platform had substantially improved traffic management since its introduction, Dantsoho said increasing trade volumes now require a stronger operational framework capable of permanently addressing congestion along the port access roads.
He stressed that continued port modernisation remained critical to sustaining Lagos’ position as a leading maritime hub in West Africa, noting that ageing infrastructure would require comprehensive upgrades, deployment of modern cargo-handling equipment and investments to improve efficiency and boost government revenue.
On his part, Nwokeoji congratulated the NPA on the ports’ improved global ranking and reaffirmed ANLCA’s commitment to policies that promote trade facilitation and operational efficiency.
He urged the authority to involve the association more directly in the management and oversight of the Electronic Call-Up System, arguing that the participation of licensed customs brokers would introduce greater transparency, strengthen accountability and help eliminate racketeering and artificial delays experienced by truck operators.
The ANLCA president also formally invited the NPA Managing Director to the association’s 72nd anniversary celebration scheduled for later this year.
In addition, the association pledged to collaborate with the NPA, the Nigeria Police Force and other stakeholders through a coordinated task force that will monitor truck movements and respond promptly to disruptions along the Apapa and Tin Can port corridors.
The Issues
Despite notable improvements in port operations since the introduction of the Ètò Electronic Call-Up System, traffic congestion remains a recurring challenge along the Apapa and Tin Can access roads, contributing to delays, higher logistics costs and reduced efficiency within Nigeria’s maritime supply chain.
Stakeholders have consistently called for stronger enforcement, improved stakeholder coordination and sustained investment in road infrastructure and port modernisation to consolidate recent operational gains.
What’s Being Said
Abubakar Dantsoho
“This global recognition is not accidental; it is the direct result of our strategic and intentional mapping of port processes and our relentless pursuit of excellence.”
Emenike Nwokeoji
ANLCA seeks greater involvement in the management of the Electronic Call-Up System to provide effective checks and balances capable of eliminating racketeering and artificial delays along the port corridors.
What’s Next
The NPA and ANLCA are expected to deepen collaboration on measures aimed at improving truck traffic management, enhancing cargo evacuation and strengthening oversight of the Electronic Call-Up System.
The proposed collaboration with the Nigeria Police Force and other stakeholders is also expected to improve monitoring and ensure quicker responses to disruptions affecting the movement of trucks and cargo around the Lagos ports.
Bottom Line
The renewed partnership between the NPA and ANLCA underscores a shared commitment to tackling one of Nigeria’s most persistent maritime challenges. By strengthening the Electronic Call-Up System, improving stakeholder collaboration and advancing port modernisation, both organisations aim to sustain recent efficiency gains and enhance the competitiveness of Nigeria’s busiest seaports.
Wema Bank Plc has launched the seventh edition of its flagship innovation programme, Hackaholics 7.0.
The initiative introduces three competition tracks and seven innovation verticals.
The programme will feature a nationwide tour covering 10 pitch centres across Nigeria’s six geopolitical zones.
Winners will compete for millions of naira in grant prizes.
Since its inception in 2019, Hackaholics has supported over 10,000 startups, engaged 50,000 participants, and developed more than 100 tech solutions.
Main Story
Wema Bank has launched the seventh edition of its flagship innovation initiative, Hackaholics, introducing new competition tracks and expanded opportunities aimed at supporting technology-driven startups and young innovators across Nigeria and Africa.
The programme, unveiled at a press conference held on Wednesday at the bank’s headquarters in Lagos, is themed “Powering Possibilities” and marks what the lender describes as its most ambitious edition since the initiative was launched in 2019.
Designed to nurture technology-driven entrepreneurship, Hackaholics serves as a platform for innovators to transform ideas into scalable businesses while contributing solutions to social and economic challenges.
This year’s edition introduces three participation tracks—the Startup Pitch Competition, Hackathon, and a newly created Social Impact Track—allowing innovators to compete based on the maturity and focus of their ideas.
Participants are expected to submit applications under one of seven innovation verticals, namely Financial Inclusion, Healthcare, Digital Transformation, Education, Sustainability, Social Impact, and Future of Work.
Following the application phase, the programme will embark on a nationwide innovation tour, with pitch events scheduled across 10 centres spanning Nigeria’s six geopolitical zones. Successful participants from each regional pitch event will qualify for the national grand finale, where winners will receive grant funding and business support.
Since its launch seven years ago, Hackaholics has evolved into one of Nigeria’s largest innovation platforms. According to Wema Bank, the initiative has supported more than 10,000 startups, engaged over 50,000 participants, developed more than 100 technology solutions, and awarded approximately $500,000 in grant funding to outstanding innovators. (Editor’s note: The original release states “$500,000,000”. Given the scale of the programme, this appears likely to be a typographical error and should be confirmed with Wema Bank before publication.)
Speaking at the launch, Moruf Oseni said the initiative reflects the bank’s commitment to supporting innovation and creating opportunities for young Africans.
According to him, institutions have a responsibility that goes beyond providing financial services to creating platforms that enable innovation, empower young people and contribute to long-term economic development.
He noted that Hackaholics has continued to invest in emerging innovators while strengthening Nigeria’s startup ecosystem by providing funding, mentorship and opportunities for entrepreneurs to commercialise their ideas.
Also speaking, Tajudeen Bakare described the launch of Hackaholics 7.0 as another opportunity for young Nigerians to transform innovative ideas into viable businesses.
He encouraged aspiring innovators and startup founders to leverage the platform to showcase their solutions and contribute to building a stronger innovation ecosystem capable of addressing future economic challenges.
Applications for Hackaholics 7.0 are open to Nigerian youths with technology-driven ideas and solutions, while participation in the programme is free.
The Issues
Nigeria’s technology ecosystem has continued to expand despite funding constraints and a more cautious global investment climate. However, access to early-stage capital, mentorship and market opportunities remains a significant challenge for many startups.
Industry observers believe initiatives such as Hackaholics can help bridge these gaps by providing entrepreneurs with seed funding, business exposure and access to strategic networks that improve the chances of commercial success.
What’s Being Said
Moruf Oseni
“At Wema Bank, we believe that institutions have a responsibility that extends beyond providing commercial services. We have a responsibility to create meaningful opportunities, provide the right resources, enable innovation to thrive, and support the ecosystems that will shape today’s youth as well as tomorrow’s economy.”
Tajudeen Bakare
“As we launch Hackaholics 7.0 today, we are opening up a new phase of opportunities for more Nigerian youth to challenge themselves, explore their creativity and become startup founders.”
What’s Next
Applications are now open through the Hackaholics portal. Successful applicants will participate in regional pitch events before progressing to the national finale, where winners will receive grant funding, mentorship and opportunities to scale their innovations.
Wema Bank said updates on the competition will be available through its official website and social media platforms throughout the programme.
Bottom Line
With Hackaholics entering its seventh year, Wema Bank is reinforcing its position as one of Nigeria’s leading corporate supporters of innovation. By expanding the programme’s reach, introducing new competition tracks and increasing opportunities for young entrepreneurs, the bank hopes to accelerate the development of home-grown solutions capable of driving economic growth and digital transformation across Africa.
A farmer in Funtua, Katsina State, has expressed concern over insecurity and the rising cost of fertiliser affecting this year’s farming season.
He warned that the challenges pose serious threats to agricultural productivity and food security.
The farmer also highlighted increasing incidents of produce theft from farms.
He urged governments at all levels to improve rural security and make farm inputs more affordable.
Main Story
A farmer in Funtua Local Government Area of Katsina State, Malam Ibrahim Aliyu, has appealed to the Federal and state governments to urgently address rising insecurity and the soaring cost of fertiliser, warning that both challenges are threatening agricultural production and food security.
Speaking in an interview with the News Agency of Nigeria (NAN) on Thursday, Aliyu described the 2026 cropping season as one of the most difficult in recent years for farmers in the area.
According to him, escalating insecurity and the high cost of fertiliser and other agricultural inputs have placed enormous pressure on farming activities, making it increasingly difficult for farmers to cultivate their land and sustain production.
“We are facing serious challenges this year ranging from insecurity and high cost of fertiliser and other farm inputs,” he said.
Aliyu urged governments at all levels to implement measures that would reduce the cost of essential farm inputs while strengthening security across farming communities to enable farmers carry out their activities without fear.
He also raised concern over the growing incidence of produce theft, noting that criminals frequently invade farms at night to steal harvested crops, thereby compounding the financial losses suffered by farmers.
The farmer stressed that tackling insecurity in rural communities is critical to safeguarding agricultural production and ensuring national food security.
He called on government, security agencies and other stakeholders to collaborate in developing lasting solutions to the security challenges confronting farming communities across the country.
The Issues
Nigeria’s agricultural sector continues to grapple with multiple challenges, including insecurity, rising production costs, climate variability and inadequate access to affordable farm inputs.
In many farming communities, attacks by bandits and criminal groups have forced farmers to abandon farmlands, while increasing prices of fertiliser and other inputs have raised production costs, contributing to higher food prices nationwide.
Stakeholders have consistently warned that unless these structural challenges are addressed, efforts to improve food production and achieve food security may remain constrained.
What’s Being Said
Malam Ibrahim Aliyu described the current farming season as one of the most challenging in recent years, citing insecurity, expensive fertiliser and the theft of farm produce as major threats to agricultural activities.
He called on governments at all levels to improve security in rural communities and make agricultural inputs more affordable to support farmers and boost food production.
What’s Next
Farmers are expected to continue planting during the current rainy season, but many will be closely monitoring government interventions on fertiliser affordability and rural security.
Agricultural stakeholders are also expected to intensify calls for policies that improve access to farm inputs while addressing insecurity to ensure a successful harvest and strengthen national food security.
Bottom Line
The concerns raised by farmers in Funtua underscore the twin challenges of insecurity and rising production costs confronting Nigeria’s agricultural sector, highlighting the urgent need for coordinated interventions to protect livelihoods, improve productivity and safeguard the country’s food security.
The Federal Government plans to replace the National Youth Service Corps (NYSC) khaki uniform with locally produced Adire.
The reform is aimed at promoting local textile production and boosting the Nigerian economy.
Corps members will increasingly be deployed based on their academic disciplines and professional qualifications.
Government is considering posting corps members closer to regions where they studied to address security concerns.
The reforms follow the Federal Executive Council’s approval of a comprehensive overhaul of the NYSC, the first since the scheme was established in 1973.
Main Story
The Federal Government has announced plans to replace the National Youth Service Corps (NYSC)’s traditional khaki uniform with locally produced Adire as part of a broad reform package aimed at repositioning the national service scheme and promoting indigenous industries.
The Minister of Youth Development, Ayodele Olawande, disclosed the plan on Thursday during an interview on Channels Television’s The Morning Brief, saying the initiative would encourage local manufacturing while ensuring that government expenditure supports Nigerian businesses.
According to the minister, the adoption of Adire aligns with the government’s broader economic agenda of stimulating domestic production and strengthening the country’s textile industry.
“It’s Adire. So, Adire is being produced in Nigeria. We have them in Ogun, we have them in Kwara, we have textile industry. Let’s put our money back into the country,” Olawande said.
Beyond the proposed uniform change, the minister said the government would introduce a more structured deployment system that aligns corps members’ postings with their academic qualifications and professional skills.
He explained that graduates trained in education, for instance, would be deployed to schools based on their field of study rather than being posted arbitrarily.
“After you are leaving the camp, you are not just posted to a school just because NYSC wants you to be in school but because of the process you followed when in camp. So, that is going to give a framework of where you are going to be posted to,” he said.
Olawande also revealed that the government is reviewing the deployment process to improve the security of corps members.
Under the proposed arrangement, prospective corps members may increasingly be posted to regions where they studied or are already familiar with the environment, particularly in areas facing security challenges.
According to him, the approach would reduce requests for redeployment while ensuring that the scheme remains impactful.
“If you have interest that you want to go to the North-East why not, but if you don’t have interest… let us look at who are those in that area that can reside in those geographical areas and still give us the kind of number we are looking for,” he said.
The minister also dismissed reports suggesting that the military would be removed entirely from the NYSC, describing such claims as a misunderstanding of the approved reforms.
He clarified that while the operational leadership of the scheme would be headed by a civilian under the new framework, the military would continue to provide security support and other operational assistance nationwide.
The reforms follow the approval by the Federal Executive Council (FEC) on Monday of a comprehensive restructuring of the NYSC—the first major overhaul of the scheme since it was established in 1973.
As part of the implementation process, the FEC directed the Attorney-General of the Federation and the Federal Ministry of Youth Development to amend the NYSC Act and relevant regulations to accommodate the approved changes.
The Issues
The proposed replacement of the NYSC khaki uniform with Adire reflects the government’s growing emphasis on supporting local manufacturing and revitalising Nigeria’s textile industry.
The reforms also seek to address longstanding concerns over corps members’ postings, which have often failed to align with their professional training, while responding to persistent security challenges that have prompted thousands of redeployment requests in recent years.
However, successful implementation will depend on legislative amendments, stakeholder consultations, adequate funding and the capacity of local textile manufacturers to meet nationwide demand.
What’s Being Said
Minister of Youth Development, Ayodele Olawande, said the adoption of Adire is intended to channel government spending into Nigeria’s textile industry and stimulate local production.
He added that corps members would increasingly be deployed according to their academic disciplines and that government is exploring geographically sensitive deployment to improve security without compromising the objectives of the NYSC.
The minister also clarified that the military would remain involved in providing security for the scheme despite the transition to civilian operational leadership.
What’s Next
The Federal Government is expected to begin the process of amending the NYSC Act following the Federal Executive Council’s approval of the reforms.
Once the legal framework is updated, the government is expected to roll out the new uniform policy, discipline-based deployment system and revised operational structure for the NYSC.
Bottom Line
The proposed replacement of the NYSC’s iconic khaki uniform with locally produced Adire symbolises a broader effort to modernise the 53-year-old scheme by promoting indigenous industries, improving deployment efficiency and strengthening the safety and relevance of national service in Nigeria.
Hello, my fellow Puddle-Jumpers, Waste-Managers, and Deep-Thinking Citizens. Welcome back to our weekly sanctuary! Today is Thursday, July 2, 2026, and if you spent your morning navigating a street that currently looks like a tributary of the River Niger, or if you logged onto the internet only to find your heart breaking over the current national headlines, pull up a plastic chair. You are in the safest room on the internet.
We have officially stepped into July, and the Nigerian landscape is testing our collective resilience on every front. From the flooded streets of Lagos to the terrifying reality facing families in the North and West, the timeline this week isn’t just loud—it is heavy. Let’s look at our current realities with raw honesty, empathetic depth, and that distinct street-smart perspective.
If you’ve been on X (Twitter), Instagram, or TikTok over the last 72 hours, you know that Lagos has officially rebranded as the Venice of Africa. The torrential downpours that climaxed on Sunday night, June 28, left major parts of the city—from the densely populated mainland spots like Oshodi, Mushin, and Gbagada, to the elite corridors of Lekki and Victoria Island—completely submerged.
The humor online is defensive but top-tier. People are posting videos of themselves “rowing” down flooded streets in plastic basins, while others are asking if their car insurance covers “accidental submarine transformations” after vehicles were submerged to window level. Even Murtala Muhammed International Airport’s terminal faced temporary disruptions as water found its way into critical infrastructure.
“My brother, I wanted to buy a plot of land on the Island to feel among the elite. Now the Island has come to meet me inside my parlor on the Mainland!”
But behind the laughter is a sharp, structural reality check. The Lagos State Government recently pointed out that as a low-lying coastal city, flash flooding is an inevitable geographical reality. However, the true culprit making our streets impassable isn’t just the clouds—it’s our relationship with waste.
Let’s talk about the “dirt disposal” crisis making our floods ten times worse. Every time a heavy rain starts, the standard, unfortunate routine for some residents is to empty their dustbins directly into the gutters, hoping the water will “carry it away to the lagoon.”
Well, in July 2026, the lagoon has officially sent back the receipts. Those plastic bottles, takeaway packs, and pure-water nylon bags have formed unbreakable fortresses inside our drainage channels. When the water can’t flow down, it flows up—directly into living rooms, shops, and kiosks, destroying livelihoods.
This environmental neglect has directly worsened a quieter, heartbreaking crisis: The rising wave of temporary homelessness. When an entire street in FESTAC or Adeniji Adele is knee-deep in water, families are displaced, sleeping on church benches or overcrowding the homes of relatives. It is a harsh reminder that our private habits have direct, public consequences.
But as we drain the water from our living rooms on the Mainland, our hearts are pulled violently to the North and West. The most sobering trend on our timelines this week is the deep, protective grief surrounding the recent wave of mass school abductions—climaxing with the horrific attack on June 29, where gunmen dressed in fake military fatigues breached a secondary school in Borno State while students were sitting for their NECO exams.
With dozens of children and educators still missing from multiple recent school incidents across Borno and Oyo State, the contrast on our timelines is devastating. We are watching the capital city navigate urban floods, while distant villages navigate a sea of terror.
This is where our empathy must turn into a shield. The anger online isn’t toxic; it is the righteous fury of a people who refuse to normalize the idea that getting an education should require a survival strategy. Every empty desk in those classrooms is a violation of the social contract. We must continue to speak their names, demand transparent security accountability, and refuse to let the news cycle move on.
Lessons to Carry into the Weekend Stop the Gutter-Dumping: The rainy season is at its peak between now and September. Protect your neighborhood by disposing of your waste through official channels. A clear drain is your best flood insurance. Support the Displaced: Look around your neighborhood this weekend. If there’s a small-scale trader whose shop was ruined by the June 28 flood, buy from them. Communal economic support is how we stay afloat. Keep the Outrage Clean but Alive: As we monitor the search operations for our missing schoolchildren, let our digital voices remain unified. True patriotism is refusing to let the vulnerable be forgotten.
See you next Thursday—hopefully with clearer skies, drier streets, and the return of every single captive child to their parent’s arms!
In an era defined by profound geopolitical volatility and persistent macroeconomic disruptions, the traditional ambit of Supply Chain Management (SCM) has been irrevocably altered – requiring it to become an inherent part of the business strategy.
In fact, the global economic landscape of the 2020s exposed the fragility of hyper-optimised “just-in-time” global value chains. Rising trade protectionism, localised conflicts disrupting vital maritime routes, and post-pandemic realignments forced boards of directors and national governments alike to confront the stark reality that supply chain resilience is synonymous with corporate survival and national security.
As a result, organisations have to abandon the outdated notion of SCM as a mere cost centre, instead needing to reposition it as the nucleus of corporate strategy, empowering SCM professionals to navigate these geopolitical complexities through strategic pivoting, risk mitigation, and localised capacity building.
Supply chains compete
In a stable environment, organisations may have been able to compete through product differentiation or marketing. That is no longer enough as an organisation’s market share and profitability are entirely dependent on the agility and resilience of its supply chain network.
The strategic response to geopolitical uncertainty requires moving away from sole reliance on distant, low-cost manufacturing hubs. With government and corporate backing, the modern supply chain strategy must now aggressively explore and implement sourcing strategies such as:
• Nearshoring and Friendshoring: Relocating critical supply chain nodes to geographically closer or geopolitically aligned regions to mitigate risk.
• Local Sourcing: Building domestic supplier capacity to buffer against international transit shocks.
When supply chain strategy is rightfully placed at the apex of the organisation and adequately resourced, it provides the agility required to manage these transitions without compromising the end consumer’s experience and brand promise.
The Supply Chain Executive
Because supply chain leaders manage the most complex, financially consequential, and globally integrated facets of modern enterprises, they possess the holistic operational purview required to lead the entire business.
Take, for example, the Dangote Group strategy in which Aliko Dangote boldly restructured his industrial empire by repositioning the supply chain at the heart of corporate succession and strategy. Recognising that logistics and commercial operations are the lifeblood of his $33 billion conglomerate, Dangote entrusted these critical nodes to executives that understand the supply chain dynamics.
A similar move occurred in Malawi, when Feston Kaupa, former CEO at the Malawi Institute of Procurement and Supply, was appointed as the Minister of Defence, proving that this is not just a private sector priority.
In South Africa, the tax authority is leveraging supply chain compliance to combat the shadow economy through integrating supply chain mapping with inter-agency collaboration including the Border Management Authority and the National Consumer Commission.
These are but a few of many examples of how SCM skills extend far beyond their conventional logistics-focused role and can be applied to areas of the business that would previously have been seen as distinct from the job of moving products from point A to point B.
Growth driver
For the African continent, competent SCM is the fundamental engine for macroeconomic development. The successful implementation of the African Continental Free Trade Area (AfCFTA) relies entirely on seamless cross-border logistics, harmonised procurement, and integrated regional value chains.
AfCFTA’s core objectives, creating a single liberalised market, boosting intra-African trade, and enhancing competitiveness, cannot be achieved without resilient supply networks. Supply chain professionals with broader strategic competencies are uniquely positioned to drive Africa’s beneficiation strategies to benefit from adding value to raw materials before they are exported.
By developing resilient, localised sourcing networks, SCM leaders can catalyse domestic manufacturing and foster job creation, an area in which the African Supply Chain Confederation (ASCON) is actively working to help establish standardised logistical frameworks. These are required to eliminate non-tariff barriers, ensuring that the theoretical free trade area becomes a functional reality.
Africa is at a pivotal moment. Even though the continent is young, resource-rich and filled with entrepreneurial energy, its growth depends on more than potential. Economies are built on the ability to move goods efficiently, connect markets and deliver reliably and at scale.
At its heart, that is a supply chain challenge.
Today’s supply chain leaders are doing far more than keeping shelves stocked or improving delivery times. They are helping build the foundations for African growth by developing the cross-border trade routes that could turn AfCTA into a practical reality, supporting local suppliers that strengthen domestic industry, and creating resilient networks that allow African businesses to compete globally.
The era of the supply chain CEO has arrived, and it is poised to be the catalyst for Africa’s industrial renaissance.
This opinion is written by Ronald Mlalazi, President of the African Supply Chain Confederation.
In a country where conversations around women’s empowerment often end with motivational speeches and social media hashtags, the seventh edition of the SheCan Conference sought to move the conversation from inspiration to implementation.
Inside the Balmoral Convention Centre at the Federal Palace Hotel, Victoria Island, Lagos, thousands of women arrived not merely to listen but to learn, connect, reposition themselves and unlock opportunities capable of transforming their personal and professional journeys.
With more than 13,800 registrations before the event, SheCan 7.0 has become one of Nigeria’s largest privately-driven women’s leadership and empowerment platforms, reflecting the growing appetite among Nigerian women for practical knowledge, mentorship and economic opportunities rather than symbolic conversations about gender equality.
Held under the theme “She Can Do More,” the conference assembled entrepreneurs, corporate executives, policymakers, creatives, business founders and emerging professionals around a central proposition: that women’s greatest limitation is often not a lack of ability, but limited access to knowledge, networks, confidence and opportunities.
Unlike many conferences where keynote addresses dominate the agenda, SheCan deliberately blended leadership conversations with career development, financial literacy, entrepreneurship, mentorship, networking and direct economic support, reinforcing its identity as a year-round movement rather than an annual gathering. The organisation’s initiatives extend beyond the conference through mentorship programmes, business support, skills acquisition, networking opportunities and community outreach.
Redefining excellence
General Manager, Enterprise Sales at MTN Nigeria, Febisola Oyeniyi, encouraged participants to abandon perfectionism in favour of consistent excellence.
Drawing from decades of corporate leadership, she argued that excellence is not measured by flawlessness but by intentional effort, competence and the willingness to acknowledge one’s accomplishments.
For many women, particularly within highly competitive corporate environments, this message resonated strongly. Across many African societies, women often carry the additional burden of proving themselves repeatedly before receiving recognition equal to their male counterparts. Oyeniyi’s message therefore shifted the focus from external validation to internal confidence.
More than an annual conference
Convener and Founder of SheCan Nigeria, Dr Ezinne Ezeani, described the initiative as a movement committed to transforming women through continuous engagement rather than a one-day event.
“SheCan Nigeria is not just an event; it is a movement,” she said.
Her remarks reflected a broader evolution taking place within Nigeria’s women-focused development ecosystem.
Rather than limiting empowerment to inspirational gatherings, organisations are increasingly investing in structured mentorship, entrepreneurship development, financial inclusion and leadership training that continue long after conference halls empty.
This model aligns with global evidence showing that mentorship, access to professional networks and practical skills significantly improve women’s career progression and business success.
Success without comparison
One of the conference’s defining moments came from beauty entrepreneur and founder of House of Tara, Tara Durotoye.
Rejecting society’s tendency to compare women against one another, she encouraged participants to define success according to their own values and aspirations. Her message reflected an increasingly important shift within leadership development.
In the era of social media, success has become highly visible but also heavily distorted. Many women measure their progress against carefully curated online achievements rather than their personal journeys.
Durotoye urged attendees to replace comparison with self-awareness, arguing that sustainable fulfilment begins when individuals establish their own definitions of achievement.
Her husband, leadership coach and business strategist Fela Durotoye, reinforced this perspective by challenging deeply rooted cultural assumptions that often define a woman’s success through the accomplishments of her husband or family.
He argued that women deserve recognition for their individual contributions to society, leadership and national development.
Looking beyond obstacles
Several speakers shifted attention from personal development to economic empowerment.
Group Managing Director of Mojec International Limited, Chantelle Abdul, challenged participants to develop the discipline of recognising opportunities hidden within difficult circumstances.
Rather than seeing economic uncertainty as a barrier, she encouraged women to explore emerging sectors including agriculture and innovation, where significant opportunities remain underutilised.
Her message resonated particularly in Nigeria’s current economic climate, where inflation, unemployment and business uncertainties continue to reshape career choices and entrepreneurial decisions.
Similarly, Chairman of Loft & Keys Advisory, Austin Albert, shared lessons from his entrepreneurial journey while highlighting real estate as a viable pathway towards long-term wealth creation.
His presentation extended the conference beyond motivation into financial education, emphasising the importance of informed investment decisions.
Choosing purpose over pressure
Non-Executive Director of Wema Bank, Yewande Zaccheaus, reminded participants that success is not determined by accepting every opportunity but by identifying the right ones.
According to her, clarity of purpose enables individuals to distinguish meaningful opportunities from distractions. Her message reflected a recurring theme throughout the conference—that intentionality remains one of the most valuable leadership skills in an increasingly competitive world.
Chief Operating Officer and Executive Director of SAS Textiles Limited, Toyin Bakare, complemented this perspective by encouraging women to remain resilient during periods of uncertainty.
She stressed that progress often occurs quietly before becoming visible, urging participants to remain faithful to their goals even when immediate results appear absent.
Leadership through people
One of the conference’s most engaging sessions featured a panel discussion involving Managing Director of Seven-Up Bottling Company, Sari El-Khalil, alongside Chantelle Abdul and Toyin Bakare. The conversation explored workplace leadership, organisational culture and personal growth.
El-Khalil argued that organisations perform best when people feel genuinely valued. His remarks underscored an increasingly recognised leadership principle that sustainable business performance depends as much on employee wellbeing and engagement as on financial strategy.
Joining virtually, President of the Africa CEO Club, Dr Fatoumatta Gaye, reminded participants that starting points do not determine final destinations. Her personal journey from modest beginnings to international leadership reinforced the conference’s broader message that circumstances need not define ambition.
Actor and filmmaker Ruth Kadiri also challenged participants, particularly women in the creative economy, to pursue unconventional ambitions despite criticism or scepticism.
She encouraged attendees to dream beyond traditional limitations and resist defining their futures through a single career pathway.
Closing the event, business consultant Olushola Olaleye brought the day’s conversations together with a simple but enduring reminder: success is built daily through consistency, discipline and continuous improvement.
Empowerment with measurable impact
Selected participants received business grants and financial support, while members of the deaf community and individuals living with sickle cell disorder also benefited from targeted assistance.
These interventions reinforced the organisers’ commitment to translating conversations into measurable impact.
This practical dimension reflects a growing trend among leadership conferences globally, where empowerment is increasingly assessed not by attendance figures but by tangible outcomes such as funding, mentorship, employment opportunities and enterprise development.
A growing movement
The growth of SheCan mirrors broader changes taking place across Nigeria’s leadership landscape. As women continue expanding their influence across business, politics, technology, finance and entrepreneurship, the demand for platforms that combine inspiration with practical opportunities continues to rise.
SheCan’s sustained expansion—from an annual conference into a wider ecosystem supporting mentorship, skills development, financial inclusion and entrepreneurship—illustrates how empowerment initiatives are evolving to meet those expectations.
By the close of the conference, one message had echoed consistently across keynote addresses, panel sessions and personal conversations: leadership is no longer about waiting for permission.
It is about recognising one’s value, building the necessary capacity and stepping confidently into opportunities.
As participants filtered out of the convention centre carrying notebooks, business cards, mentorship connections and renewed ambition, the conference’s central message remained unmistakable.
For today’s Nigerian woman, the question is no longer whether she can. It is how much more she is prepared to become.
The Federal Government has implemented sweeping reductions in import duties on 127 tariff lines under the 2026 Fiscal Policy Measures (FPM).
Import duty on bulk rice has been reduced from 70 per cent to 47.5 per cent, while passenger vehicle duty falls from 70 per cent to 40 per cent.
Mass transit buses, electric vehicles and manufacturing machinery are now exempt from import duties.
Stakeholders say high exchange rates, port charges and logistics costs could offset the expected benefits.
Experts remain divided on the impact of the policy on local manufacturing and agricultural production.
Main Story
The Federal Government has commenced the implementation of sweeping reductions in import duties on essential goods under the 2026 Fiscal Policy Measures (FPM), raising expectations that the policy could ease the country’s cost-of-living crisis and reduce inflationary pressures.
Approved by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun? Wait. Actually, the policy announcement was made by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, acting on behalf of the Ministry of Finance’s fiscal policy reforms. According to the policy document, the tariff review targets 127 tariff lines, covering food items, passenger vehicles, manufacturing equipment and other essential imports.
The revised tariff regime significantly reduces import duties on staple foods. Duty on bulk rice has been cut from 70 per cent to 47.5 per cent, while duty on broken rice has been reduced to 30 per cent. Import duties on raw cane sugar have been lowered to between 55 per cent and 57.5 per cent, while crude palm oil now attracts a duty of 28.75 per cent, down from 35 per cent.
The government also reduced import duty on passenger vehicles from 70 per cent to 40 per cent and granted full duty exemptions for mass transit buses, electric vehicles and manufacturing machinery to support public transportation, encourage cleaner energy adoption and lower industrial production costs.
The reforms come amid persistent inflationary pressures despite a moderation from the highs recorded in 2024. Rising global energy prices, exchange rate volatility and elevated transportation costs have continued to push up the prices of food and other consumer goods.
Stakeholders believe the lower import duties could gradually reduce the landed cost of vehicles, improve fleet renewal by transport operators and ease logistics costs, which account for a significant share of food prices across the country.
However, analysts cautioned that the anticipated gains may not immediately translate into lower consumer prices due to persistent structural challenges, including high foreign exchange costs, port charges, terminal handling fees, cargo clearance delays and elevated fuel prices.
Industry operators also noted that while the tariff reductions could stimulate import activities and improve business confidence, the benefits would depend largely on broader reforms aimed at addressing inefficiencies within Nigeria’s supply chain and port system.
The Issues
The tariff reductions represent a shift in Nigeria’s fiscal policy as the government seeks to balance consumer relief with revenue generation and industrial development.
While lower import duties may reduce the cost of imported goods, concerns remain over their potential impact on domestic agriculture and local manufacturing, which have traditionally been protected through higher tariffs.
Stakeholders also argue that exchange rate volatility, high logistics costs and multiple port-related charges remain the biggest drivers of inflation and could dilute the impact of the new tariff regime if left unaddressed.
What’s Being Said
Public policy analyst Kehinde Aluko warned that reducing tariffs on agricultural products could undermine years of protection afforded to local producers, while noting that new excise duties and green taxes may offset some of the intended consumer benefits.
He said the success of the policy would ultimately depend on whether savings from lower import duties outweigh the additional taxes and costs passed on to consumers.
National President of the Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON), Frank Ogunojemite, said tariff reductions alone cannot lower the cost of doing business unless exchange rate instability, logistics costs, multiple port charges and cargo clearance delays are also addressed.
Manager of Client Services at Inspired Cars, Iwayeye Olatunji, said previous reductions in vehicle import duties had little effect on retail vehicle prices because of other import-related costs, adding that similar challenges could limit the impact of the current policy.
Meanwhile, National President of the Association of Motor Dealers of Nigeria (AMDON), Prince Ajibola Adedoyin, welcomed the tariff review, expressing optimism that it would improve vehicle availability and affordability.
What’s Next
The new tariff rates take effect from July 2026, with the Federal Government expected to monitor market responses and assess whether the reductions translate into lower prices for consumers.
Industry stakeholders are also calling for complementary reforms, including improved foreign exchange stability, reduced port charges, faster cargo clearance and enhanced logistics infrastructure to maximise the benefits of the policy.
Bottom Line
The Federal Government’s tariff reforms offer the prospect of easing inflationary pressures and lowering the cost of key imports, but their success will depend on whether broader structural bottlenecks—including exchange rate volatility, high logistics costs and port inefficiencies—are addressed alongside the new measures.
The National Drug Law Enforcement Agency (NDLEA) has taken custody of 6,778.5 kilograms of Canadian Loud intercepted at Apapa Port, Lagos.
The illicit consignment was seized during a joint operation involving the NDLEA, Nigeria Customs Service (NCS) and other security agencies.
The operation was supported by intelligence from the Royal Canadian Mounted Police (RCMP).
NDLEA says the drugs were traced across multiple international transit points before being intercepted in Nigeria.
The agency has vowed to dismantle the criminal syndicates behind the shipment and confiscate their illicit assets.
Main Story
The National Drug Law Enforcement Agency (NDLEA) has formally taken custody of 6,778.5 kilograms of Canadian Loud, a potent strain of cannabis, intercepted at Apapa Port in Lagos in what the agency described as a major breakthrough against transnational drug trafficking.
The illicit consignment was officially handed over to the NDLEA during a ceremony at the port following its interception during a joint examination of two containers by operatives of the NDLEA, the Nigeria Customs Service (NCS) and other security agencies.
In a statement issued on Wednesday, the agency’s spokesman, Femi Babafemi, said the Chairman and Chief Executive Officer of the NDLEA, Brig. Gen. Buba Marwa (retd.), represented by the Director of Seaport Operations, ACGN Ibinabo Archie-Abia, described the seizure as a landmark achievement made possible through intelligence-led operations and inter-agency collaboration.
Marwa said the consignments were intercepted through two separate operations carried out on June 15 and June 24, 2026, following months of coordinated investigations involving the NDLEA Special Investigation Unit, the Marine Intelligence Unit, the Royal Canadian Mounted Police (RCMP) and the Nigeria Customs Service.
According to him, the drug trafficking syndicates employed sophisticated maritime routes across multiple countries in an attempt to evade law enforcement agencies.
He explained that the first container, identified as CAAU 7569127, departed Toronto on April 16, 2026, was transported by rail to Montreal, shipped through Tangier Med, Morocco, before arriving at Tin Can Island Port and eventually being transferred to Apapa Port, where it was intercepted during a joint inspection.
The second container, identified as HAMU 3246311, departed Montreal on May 1, 2026, before being trans-shipped en route to Nigeria and intercepted at Apapa Port after its transfer from Tin Can Island Port.
Marwa said the agency’s operations would not end with the seizure of illicit drugs but would extend to identifying, arresting and prosecuting those behind the trafficking network, as well as confiscating assets acquired through criminal activities.
He also commended officers of the NDLEA, the Nigeria Customs Service and other security agencies for their professionalism and commitment, noting that the successful operation demonstrated the value of intelligence sharing and inter-agency cooperation in combating organised crime.
The Issues
Nigeria remains a strategic transit and destination point for international drug trafficking networks seeking to exploit maritime trade routes.
Large-scale seizures such as this highlight the increasing sophistication of transnational criminal organisations and underscore the importance of intelligence-led operations, international cooperation and enhanced port security.
The NDLEA’s commitment to tracing illicit financial flows and prosecuting syndicate members reflects a broader strategy aimed at dismantling organised criminal networks rather than merely intercepting narcotics.
What’s Being Said
NDLEA Chairman and Chief Executive Officer, Brig. Gen. Buba Marwa (retd.), said the seizures send a strong message that the agency is intensifying efforts to dismantle organised drug trafficking syndicates operating within and outside Nigeria.
He said the operations were made possible through intelligence sharing between the NDLEA, the Nigeria Customs Service, the Royal Canadian Mounted Police and other security agencies.
Marwa stressed that the agency would pursue not only the seizure of illicit drugs but also the arrest and prosecution of those responsible, while confiscating assets linked to drug trafficking.
He also praised the professionalism and dedication of officers involved in the operation, describing the seizure as evidence of the effectiveness of inter-agency collaboration in tackling transnational organised crime.
What’s Next
The NDLEA is expected to continue investigations to identify the owners, financiers and collaborators connected to the intercepted consignments.
The agency also plans to intensify intelligence-driven operations at Nigeria’s seaports and work with international law enforcement partners to disrupt transnational drug trafficking networks and recover criminal proceeds.
Bottom Line
The seizure of 6,778.5 kilograms of Canadian Loud represents one of the NDLEA’s significant anti-narcotics operations in 2026, highlighting the growing importance of intelligence sharing and international cooperation in combating organised drug trafficking through Nigeria’s maritime gateways.
Key points
Federal Government will train 5,000 young Nigerians as meter installers and technicians.
The programme is being implemented under the Presidential Metering Initiative (PMI).
The initiative...
