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Nigeria moves to sustain immunisation as gavi begins exit

Vaccine: 'COVID-19 Disrupted Immunizations, Campaigns' - NCDC

By Boluwatife Oshadiya | March 12, 2026

Key Points
  • Nigeria says it is strengthening domestic health financing as Gavi prepares to transition out of the country
  • Government takes over 371 solar-powered primary healthcare centres across 17 states
  • Officials say the project will improve vaccine storage and healthcare access in off-grid communities
Main Story

Nigeria’s Federal Government has announced plans to strengthen domestic health financing and service delivery systems as Gavi, the Vaccine Alliance, begins its transition out of the country after years of supporting immunisation programmes.

The development was announced on Thursday in Abuja during the handover of the Primary Health Care Solarisation Project, implemented by Gavi and the United Nations Children’s Fund (UNICEF), to the Nigerian government.

The initiative, coordinated by the National Primary Health Care Development Agency (NPHCDA), involves the installation of solar power systems in 371 primary healthcare centres across 17 states, aimed at improving electricity supply for vaccine storage and healthcare services.

Speaking at the event, Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, said Nigeria is building a more resilient healthcare system capable of sustaining immunisation coverage even as international partners reduce financial support.

“The foundations of a resilient health system have been laid and are being strengthened through domestic resource mobilisation by both the Federal Government and states, complemented by development partners,” Pate said.

According to the minister, the solarisation project will significantly improve access to essential healthcare services in off-grid communities, while ensuring reliable cold-chain storage for vaccines used in national immunisation programmes.

Government data show that Nigeria’s primary healthcare centres have recorded more than 47 million patient visits in recent years, reflecting increased utilisation following improvements in infrastructure and service delivery.

Pate also highlighted that Nigeria recently conducted one of the largest integrated vaccination campaigns in Africa, targeting over 100 million children with measles, rubella and other vaccines with financial support exceeding $100 million from Gavi.

The minister acknowledged that temporary shortages of the Human Papillomavirus (HPV) vaccine had been reported in some states but said new shipments were expected to stabilise supply.

What’s Being Said

“Healthcare is not cheap; it is an investment. When governments invest and partners complement those investments, the system becomes sustainable,” Pate said.

A representative of the World Health Organization said continued collaboration between international partners and national authorities will remain critical even as Gavi scales down its direct involvement.

“Nigeria has made measurable progress in immunisation coverage, but sustaining those gains requires consistent financing and strong primary healthcare systems,” the official said.

What’s Next
  • Nigeria is expected to gradually assume full financial responsibility for several vaccine procurement programmes previously supported by Gavi.
  • Additional investments in primary healthcare infrastructure are expected under the government’s ongoing health sector reforms.
  • Health authorities will continue nationwide immunisation campaigns aimed at increasing vaccination coverage among children.

Port modernisation, NSW to drive new era of trade in Nigeria

Key Points:

  • Nigeria’s cargo throughput rose by 24.8% in 2025, signalling renewed growth in the maritime sector.
  • Port modernisation and the National Single Window (NSW) are central to efforts to improve efficiency and trade competitiveness.
  • Reforms under the Federal Government aim to reposition Nigeria as a regional maritime logistics hub in West and Central Africa.

Main story

Nigeria’s maritime sector, which accounts for more than 80 per cent of the country’s international trade, is undergoing major reforms aimed at improving efficiency, increasing trade volumes and strengthening the country’s position in the global shipping ecosystem.

The reforms, spearheaded by the Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, focus on port modernisation, digital trade facilitation and institutional restructuring designed to reposition Nigeria’s seaports as competitive gateways for regional and international commerce.

Recent data from the NPA’s 2025 Operational Performance Report shows that the sector recorded a historic surge in activity. Total cargo throughput rose by 24.8 per cent, increasing from approximately 103.6 million metric tonnes in 2024 to more than 129.3 million metric tonnes in 2025.

Dantsoho described the increase as one of the most significant annual growth figures in the country’s maritime history, attributing it to reforms initiated by the administration of Bola Ahmed Tinubu.

The reforms are being coordinated by the Federal Ministry of Marine and Blue Economy under the leadership of Adegboyega Oyetola, with the NPA responsible for operational implementation across the nation’s ports.

Central to the reform agenda are two major initiatives: the modernisation of port infrastructure and the rollout of the National Single Window (NSW) — a digital platform designed to streamline trade documentation and eliminate bureaucratic delays.

The issues

For decades, Nigeria’s ports have struggled with infrastructure deficits, congestion and slow cargo clearance processes.

Industry experts estimate that the country loses over ₦1 trillion annually due to inefficient port operations, limited automation and administrative bottlenecks that increase logistics costs for businesses.

These inefficiencies have also undermined Nigeria’s competitiveness in regional trade, as neighbouring countries such as Ghana, Togo and Benin Republic attract cargo originally destined for Nigerian ports due to faster and more efficient systems.

The situation has resulted in Africa’s largest economy operating ports that have struggled to match the efficiency of smaller regional competitors.

What’s next

The Federal Government is also implementing a large-scale port reconstruction programme covering key facilities including Apapa, Tin Can Island, Port Harcourt, Warri and Calabar ports.

The project involves upgrading quay walls, deepening shipping channels, expanding terminal capacity and deploying modern cargo-handling equipment to accommodate larger vessels and growing trade volumes.

Alongside these upgrades, digital initiatives such as the Port Community System, Vessel Traffic Management System and electronic cargo tracking platforms are being introduced to enhance coordination among port stakeholders.

Analysts project that once fully operational, the National Single Window could increase customs revenue by 10 to 20 per cent annually, potentially generating between ₦600 billion and ₦1.2 trillion in additional government earnings.

The system is also expected to reduce cargo dwell time by up to 45 per cent and lower trade transaction costs by about 25 per cent.

Bottom line

Nigeria’s maritime reforms — combining large-scale port modernisation with digital trade systems such as the National Single Window — represent one of the most significant transformations of the country’s trade infrastructure in decades.

If sustained, the reforms could significantly improve port efficiency, attract foreign investment and position Nigeria as a leading maritime and logistics hub in West and Central Africa, strengthening the nation’s drive for economic diversification and long-term growth.

FG activates PPP for 250MW Ikom multipurpose dam

KEY POINTS

  • The Federal Government has officially commenced the structured development of the Ikom Multipurpose Dam and Hydropower Project under a Public-Private Partnership (PPP).
  • ICRC Director-General Jobson Ewalefoh confirmed the project has been designated a “strategic national intervention” rather than just a power initiative.
  • The project aims to deliver 250 megawatts (MW) of renewable energy while addressing recurring flooding within the River Benue Basin.
  • A Presidential Project Development Committee (PDC), chaired by the ICRC, has been inaugurated to guide the project from concept to bankability.

MAIN STORY

Nigeria is taking a decisive step toward energy security and flood resilience with the formal activation of the Ikom Multipurpose Dam project. Speaking in Abuja on Thursday, Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced the commencement of a structured development phase.

The project is designed as a multipurpose intervention that goes beyond power generation to include flood control, water resource optimization, and regional economic stimulation in Cross River State and surrounding areas.

The development follows a high-level stakeholder meeting at Aso Rock, where President Bola Tinubu’s administration designated the dam as a strategic national asset. To drive this vision, a Project Development Committee (PDC) has been formed, bringing together key players including the Ministry of Finance, Ministry of Water Resources, NSIA, NNPC Limited, and the Cross River State Government. The committee’s primary mandate is to create a commercially viable structure that attracts credible private sector investors.

Finance Minister Wale Edun emphasized that the project is part of a broader shift toward fiscal discipline and long-term value creation. By utilizing a PPP framework, the government aims to ensure the dam operates efficiently over the long term without placing undue pressure on public finances. The next immediate steps involve a rigorous review of existing hydrological studies and the appointment of a transaction adviser to manage the competitive bidding process.

WHAT’S BEING SAID

  • “The project is designed as a multipurpose infrastructure intervention to control flooding, provide renewable energy, and support regional economic development,” stated Jobson Ewalefoh, DG of ICRC.
  • Wale Edun (Minister of Finance) noted that the project would be structured as a “sustainable, viable and commercially significant transaction” capable of attracting private capital.
  • The ICRC confirmed that the PDC is tasked with ensuring “transparency and compliance with national PPP standards” throughout the preparation roadmap.

WHAT’S NEXT

  • The committee will immediately begin the review and validation of existing feasibility and hydrological studies.
  • The process to appoint a professional transaction adviser will commence to guide the project toward financial close.
  • The PDC will determine the specific risk allocation between the government and private partners to ensure bankability.

BOTTOM LINE

The Bottom Line is that the Ikom Multipurpose Dam has evolved from a long-standing proposal into a high-priority presidential intervention. By integrating flood defense with a 250MW power plant under a PPP model, the government is attempting to solve two of the region’s biggest challenges—energy scarcity and seasonal flooding—through a single, commercially viable investment.

New tax reform to ease burden on low-income earners – FCT-IRS

Key points:

  • Federal Capital Territory Internal Revenue Service says new tax reforms will exempt low-income earners from taxation.
  • Officials say the reform aims to create a simpler, fairer and more efficient tax system.
  • Experts believe the new framework will also provide relief for households and support small businesses.

Main story

The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Michael Ango, has said that Nigeria’s new tax reform is aimed at reducing the financial burden on low-income earners while promoting fairness in the country’s tax system.

Ango stated this on Thursday at the BusinessDay Tax Reform Conference held in Abuja, themed “Navigating the New Tax Regime: What It Means for Your Wallet.”

He explained that the reform is designed to promote equity in revenue collection by exempting individuals who earn below a specified income threshold from paying taxes, while ensuring that higher-income earners contribute a fair share to government revenue.

Ango noted that taxation should be viewed as a partnership between citizens and government, through which public resources are mobilised to provide essential services and drive national development.

He noted that improved tax compliance would enable the government to invest more in critical infrastructure such as schools, hospitals, roads and security.

Ango also urged Nigerians to familiarise themselves with the provisions of the new tax framework and seek clarification from relevant government institutions where necessary, noting that the reform is intended to strengthen the country’s fiscal system and support inclusive economic progress.

The issues

Nigeria’s tax system has long been criticised for inefficiencies, complexity and a perceived disproportionate burden on lower-income groups.

Economic analysts argue that reforms aimed at simplifying tax processes, improving compliance and broadening the tax base are critical to boosting government revenue while ensuring fairness for taxpayers.

The latest reform forms part of efforts by the federal government to modernise tax administration and improve economic efficiency.

What’s being said

Chairman of the National Tax Implementation Committee, Joseph Tegbe, said the new tax framework is designed to be simple, fair and efficient.

‘’Nigerians should not be apprehensive about the reform, noting that individuals who feel over-taxed can lodge complaints with the relevant authorities for review.’’

“The goal of this reform is to make the tax system simpler, fairer and more efficient for government, businesses and for all of us who live and work in the country,” Tegbe said.

Earlier, Publisher of BusinessDay, Frank Aigbogun, represented by the newspaper’s Executive Director John Osadolor, said the conference was organised to bridge the gap between policy intentions and the everyday economic realities faced by Nigerians.

He explained that the dialogue aimed to provide deeper insights into the recent tax reforms introduced by President Bola Tinubu.

“These laws are designed to simplify Nigeria’s tax landscape, drive economic growth, increase revenue generation and enhance effective tax administration across all levels of government,” Osadolor said.

Meanwhile, an economist at Nasarawa State University, Keffi, Prof. Uche Uwaleke, said the reform could provide relief for households and stimulate small business growth.

“For many households, the reform will provide significant relief by expanding exemptions for low-income earners and protecting pensions and healthcare contributions from additional tax burdens,” he said.

What’s next

Tax authorities are expected to intensify public awareness campaigns and stakeholder engagements to help citizens and businesses understand the implications of the new tax framework.

Implementation committees will also continue working with relevant agencies to ensure effective enforcement of the reforms nationwide.

BOTTOM LINE

Officials say Nigeria’s new tax reform is aimed at creating a fairer system that shields low-income earners while ensuring that higher-income groups contribute more toward funding national development.

FCT-IRS

Nine senators defect to ADC in major National Assembly realignment

Senate Approves $800m Loan For Safety Net Programme

By Boluwatife Oshadiya | March 12, 2026

Key Points

  • Nine senators from multiple parties formally defected to the African Democratic Congress on Thursday
  • Senate President Godswill Akpabio read the defection letters during plenary in Abuja
  • The move signals a new round of political realignments ahead of future national elections
Main Story

Nine members of Nigeria’s Senate have officially defected from their respective political parties to the African Democratic Congress (ADC), marking one of the most significant political shifts in the National Assembly in recent months.

The defections were announced during Thursday’s plenary session at the National Assembly after Senate President Godswill Akpabio read formal letters submitted by the lawmakers declaring their intention to join the ADC.

The senators involved include Aminu Tambuwal (Sokoto), Eyinnaya Abaribe (Abia), Binos Yaroe (Adamawa), Victor Umeh (Anambra), Tony Nwonye (Anambra), Lawal Usman (Kaduna), Ogoshi Onawo (Nasarawa), Augustine Akobundu (Abia), and Ireti Kingibe (Federal Capital Territory).

Although several of the lawmakers did not immediately state detailed reasons for their exit from their previous parties, political analysts say the development reflects growing fragmentation within Nigeria’s major political blocs as smaller parties attempt to build influence ahead of the next election cycle.

Party defections are a recurring feature of Nigerian politics, particularly during periods of internal party disagreements or shifting electoral alliances. Over the past decade, the National Assembly has experienced multiple waves of defections involving both ruling and opposition parties.

The ADC, traditionally a smaller political platform, has been working to expand its national footprint by attracting lawmakers and influential politicians dissatisfied with the dominant political parties.

What’s Being Said

“The decision to join the ADC is based on our collective belief that the party offers a credible platform to pursue inclusive governance and national development,” Senator Eyinnaya Abaribe said shortly after the announcement.

Political analyst Jide Ojo noted that defections of this scale could reshape parliamentary alliances.

“When multiple senators move together to another party, it signals strategic coordination rather than isolated political decisions. The impact could extend to legislative negotiations and future electoral alignments,” Ojo said.

What’s Next
  • The African Democratic Congress is expected to formally receive the defecting senators at a public event in Abuja in the coming days.
  • Political parties affected by the defections may begin internal consultations to prevent further losses within the National Assembly.
  • Analysts expect additional defections across both chambers of parliament as political blocs reposition ahead of upcoming national elections.

Dragon in the machine: How China’s technology investments are reshaping Nigeria’s industrial economy

Abuja-Kaduna Standard Gauge Railway

From fibre optic networks and standard-gauge railways to electric vehicles and steel plants, Chinese capital and technology are embedded across seven critical sectors of Nigeria’s economy— but the depth of technology transfer remains uneven

BizWatch Research Desk   |   March 2026

Key points

• Huawei and ZTE together control over 90% of Nigeria’s telecoms equipment market, backed by combined investments exceeding $1.6 billion between 2010 and 2020.

• China has built every kilometre of Nigeria’s modern standard-gauge railway network, with commitments totalling over $8 billion across active and planned routes.

• Chinese-financed power plants account for over 40% of Nigeria’s roughly 4,000 MW total generation capacity; the $1.3 billion Zungeru plant alone adds 700 MW.

• Nigeria is Africa’s second-largest solar panel importer, sourcing 70% of panels from China – with local assembly deals now in motion with LONGi, the world’s largest solar manufacturer.

• A $400 million steel plant deal signed in 2025 and advanced negotiations over a $2 billion Ajaokuta revival signal China’s deepening role in Nigeria’s metals sector.

• The motorcycle sector tells Nigeria’s most complete technology transfer arc: from China’s first motorcycle import deal in 1987, through Innoson’s Nnewi assembly plant, to Nigeria’s first EV export to the United States – with an estimated 15,000–20,000 EVs now on Nigerian roads.

• The critical challenge across all sectors: backward linkages between Chinese projects and domestic Nigerian SMEs remain weak, limiting the depth of industrial spillover.

China’s economic footprint in Nigeria is no longer reducible to trade statistics or construction contracts. Across seven key industries – telecommunications, rail, power, renewable energy, manufacturing, metals, and automotive – Chinese capital, companies, and technology have become structurally embedded in Nigeria’s economy, in some cases replacing Western and multilateral institutions as the primary financiers and builders of critical infrastructure.

The scale is significant. Total Chinese investment commitments to Nigeria under the bilateral strategic partnership exceed $20 billion. But the more consequential question – how much of that investment translates into durable technology capability, skills, and industrial capacity for Nigeria. The answer, sector by sector, is uneven.

Sector 1: Telecommunications & ICT

No sector shows China’s dominance more starkly than telecommunications. Huawei and ZTE collectively hold over 90% of Nigeria’s telecoms equipment market, a position built over two decades through competitive pricing enabled by long-term, low-interest financing from China’s state banks – including the China Development Bank and China Exim Bank. Chinese firms typically underprice global competitors by approximately 30%, a structural advantage no rival has matched in the Nigerian market.

Investment scale: Between 2010 and 2020, Huawei deployed $750 million and ZTE $880 million in Nigerian communication infrastructure – a combined $1.63 billion. Continent-wide, Huawei has built approximately 50% of Africa’s 3G networks and 70% of its 4G networks.

Infrastructure: Nigeria’s Galaxy Backbone signed an MoU with Huawei in 2018 for the National ICT Infrastructure Backbone (NICTIB) project, backed by China Exim Bank loans totalling $428 million across two phases, providing fibre infrastructure to federal government institutions.

Technology transfer: Both Huawei and ZTE have opened local offices and employed significant numbers of Nigerians, supporting talent transfer and capacity building. Huawei has run targeted initiatives including a ‘1,000 Girls ICT’ training project and regular graduate certification programmes for Nigerian engineers.

Sector 2: Railway & Transport Infrastructure

China, through the state-owned China Civil Engineering Construction Corporation (CCECC), has become the sole builder of Nigeria’s modern standard-gauge rail network. Every kilometre of new standard-gauge track in Nigeria has been built by CCECC and financed by China Exim Bank.

Abuja–Kaduna (187 km): Completed in July 2016 at a cost of $876 million, with $500 million from China Exim Bank. It was the first standard-gauge line in the Nigerian capital region and by 2019 generated as much annual revenue as the entire 3,505 km colonial-era Cape-gauge network combined.

Lagos–Ibadan (156 km): Completed in 2021 at a cost of $1.7 billion, also contracted to CCECC.

Broader network: In 2018, Nigeria signed a $6.68 billion contract with CCECC for the remaining segments of the Lagos–Kano standard-gauge corridor — the spine of Nigeria’s planned national rail network.

Technology and skills transfer: The Abuja–Kaduna project created approximately 15,000 direct and indirect Nigerian jobs. CCECC sent 67 young Nigerian graduates to China for specialised training in railway technology and operations. Nigerian engineers subsequently qualified to drive trains on the line – the first standard-gauge route in the country to be operated by Nigerian train drivers rather than Chinese expatriates.

Sector 3: Power & Energy

Chinese-financed power plants now account for over 40% of Nigeria’s approximately 4,000 MW of total generation capacity – a share that reflects decades of underinvestment by the Nigerian government and Western partners, and an opening that Chinese state-backed firms have moved decisively to fill.

Zungeru Hydroelectric Power Plant: Built by Sinohydro and China National Electric Engineering Company (CNEEC), the $1.3 billion facility has an installed capacity of 700 MW and is designed to generate 2.64 billion kWh annually – enough to meet close to 10% of Nigeria’s total domestic energy needs. China Exim Bank provided a $984 million preferential loan covering 75% of project costs, at a 2.5% interest rate over 20 years.

Mambila Plateau Hydropower Project (pipeline): At 3.05 GW of planned capacity and an estimated cost of $5.8 billion, largely financed by China Exim Bank – the Mambila project would, if completed, be transformative for Nigeria’s power sector. Target operational date: 2030.

Oil and gas: In 2025, Chinese spending on oil and gas projects in Nigeria reached an all-time high, with Chinese firms constructing an estimated $20 billion worth of oil and gas processing facilities.

Sector 4: Renewable Energy

The renewable energy sector represents the most dynamic front of China-Nigeria technology engagement, moving rapidly from a pure import relationship toward nascent local manufacturing, with major deals signed or in advanced negotiation as of early 2026.

Market dominance: China accounts for 70% of all solar panel shipments into Nigeria. Between June 2024 and June 2025, Nigeria imported approximately 1,721 MW worth of solar panels from China, making it Africa’s second-largest solar importer after South Africa. The Nigerian solar market was valued at over $600 million in 2024 and is projected to grow at 15–20% annually through 2030.

Shifting toward local production: Since 2023, the Nigerian government has partnered with China Great Wall Industry Corporation to establish a solar cell production facility in Gora, a region rich in the silicon and silica raw materials required for solar cell manufacturing.

LONGi factory deal: Nigeria’s Energy Commission finalised discussions with LONGi – the world’s largest solar panel manufacturer, for a 500–1,000 MW solar panel production plant in Nigeria under the Tinubu administration’s Renewed Hope Solarisation Policy. If delivered, this would be among the most significant clean energy manufacturing investments in West Africa.

Huawei mini-grid centre: In September 2024, Nigeria’s Rural Electrification Agency (REA) signed an agreement with Huawei Nigeria for a mini-grid simulation and technical standardisation centre, a facility capable of testing the durability and efficiency of renewable systems under varied environmental conditions.

Technology transfer ceiling: Chinese solar manufacturers have heavily automated the production value chain, making full localisation difficult. However, since solar cells account for approximately 40% of a panel’s price, analysts calculate that local assembly of the remaining components could retain over 60% of value within the Nigerian economy.

Emerging frontier – green hydrogen: In 2025, LONGi registered a notable engagement in green hydrogen development in Nigeria, flagged in China’s Belt and Road Initiative investment report, signaling a potential shift from infrastructure provision to advanced clean energy technology partnership.

Sector 5: Manufacturing

China’s impact on Nigerian manufacturing is significant, though its nature is more complex than simple technology transfer. Chinese machinery access has lowered the cost of industrial equipment dramatically; Chinese-owned factories in Nigeria’s free trade zones have created measurable jobs and some skills mobility. But backward linkages to the local economy remain shallow.

Cost transformation: European manufacturing machines costing over $450,000 can be sourced from China for approximately $23,000, roughly one-twentieth of the equivalent cost – making Chinese machinery the only financially viable capital equipment option for the majority of Nigerian manufacturers.

Sectoral findings: Research across Chinese-invested manufacturers in Nigeria found the most significant technology transfer evidence in non-homogenous product sectors such as furniture, where production know-how is less easily automated. The automotive and construction sectors showed notable technology exchange, but backward linkages between Chinese firms and domestic Nigerian SMEs remained limited, constraining the development of local supply chains and industrial clusters.

Free trade zones: The Ogun Free Trade Zone and the Lekki FTZ host clusters of Chinese manufacturers producing steel pipes, ceramics, and consumer goods. Research noted that the ceramics and steel sub-sectors exhibited a high degree of labour mobility – Nigerian workers developing transferable skills as they moved between Chinese-owned factories.

Sector 6: Metals & Steel

The metals and steel sector encapsulates the defining tension of Nigeria’s relationship with Chinese industrial capital: the same state-backed financing and manufacturing scale that enables Chinese firms to invest in Nigerian production capacity also enables Chinese steelmakers to flood the Nigerian market with subsidised imports that undercut domestic producers.

Ajaokuta revival: The federal government is in advanced negotiations with Chinese investors for a $2 billion rehabilitation of the Ajaokuta Steel Complex – a 42-year-old facility that has never reached full production. A Chinese firm deployed approximately 20 engineers to Nigeria at its own expense for a two-week on-site evaluation, concluding that the existing 1.3 million metric tonne rolling mill is viable and could restart within six months of agreement. The deal includes provisions to send hundreds of Nigerian engineers to China for specialised training.

Stellar Steel, Ewekoro: In late 2025, Nigeria signed a $400 million cooperation agreement with Chinese-backed Stellar Steel Company Limited for a new steel plant in Ogun State – described as one of the largest FDI commitments in Nigeria’s steel sector in nearly a decade. The project targets over 2,000 direct and 20,000 indirect jobs, a localised iron ore supply chain projected to save over $1 billion in foreign exchange annually, and integration of energy-efficient green steel production technologies.

The dumping problem: China’s steel exports reached a record 118 million tonnes in 2024 – more than double the 2020 level – driven by heavy state subsidisation at roughly five times the rate of global competitors. Nigeria, lacking the trade defence infrastructure of the EU, the US, or India, remains directly exposed. Cheap Chinese rebar and wire rod consistently undercut domestic steel producers.

Wire and cable: Nigeria has a functioning domestic cable manufacturing industry – Cutix, Coleman, and Kabelmetal are established producers, but the sector remains structurally dependent on Chinese inputs and component supply chains. Chinese firms operating in adjacent metals sectors also import the majority of their raw materials from China, with only low-value, bulky inputs like scrap metal sourced locally.

Sector 7: Motorcycles, Tricycles & Electric Vehicles

Nigeria’s motorcycle and vehicle sector tells the most complete technology transfer story in this entire analysis – beginning with a Chinese motorcycle import deal in 1987 and arriving, nearly four decades later, at Nigeria’s first electric vehicle export to the United States. It is the arc that China’s involvement in every other sector is still working toward.

Motorcycles – where it started: In 1987, Innoson Nigeria Limited brought in the first Chinese-brand motorcycles. By 1995, Innoson had established a fully automated motorcycle assembly plant in Nnewi – the first fully indigenous motorcycle assembly facility in Nigeria. The market impact was immediate: the price of a brand-new motorcycle fell from ₦150,000 to ₦70,000, effectively eliminating the second-hand import market. Today, brands marketed as ‘made-in-Nigeria’ – Qlink, Daylong, and Lifan – are all Chinese-origin marques assembled locally. China’s Haojue, which has led China’s motorcycle industry in production and sales for 22 consecutive years, is one of the most actively traded brands on the Nigerian secondary market.

Documented skills absorption: The Nnewi case is one of the clearest records of genuine technology transfer in any Nigerian sector. Innoson management stated on record that Nigerians now run their production line without Chinese input – and that the number of Chinese technical partners has been progressively reduced as Nigerian workers absorbed the capability. At Shacman Motors, Chinese partners trained former ANAMMCO staff to assemble Chinese trucks independently, after which Nigerians ran the lines without continued expatriate involvement.

Tricycles — the electric pivot: The traditional petrol keke Napep market is dominated by Indian brands – Bajaj, TVS, and Piaggio. But the electric tricycle transition is being led by Chinese partnerships. In 2023, the Nigerian federal government signed a cooperation MoU with Chinese company Mutual Commitment Company Limited to assemble electric tricycles locally and establish a renewable energy training centre. At the FOCAC summit, Nigeria also signed a separate MoU with China Metallurgical Group specifically targeting local manufacturing capacity for electric tricycles.

Electric vehicles — a Chinese technology spine: Nigeria’s nascent EV sector exists almost entirely on Chinese components and technology, even where the assembling company is Nigerian-owned. JET Motor Company, which assembles Nigeria’s first electric cargo vans – imports its powertrain from China’s Jing-Jin Electric Technologies Co. and its battery from Chinese firm KeyPower, currently assembling three units per day at its Lagos plant. Innoson Vehicle Manufacturing’s EV range – the IVM Link, IVM EX02, and IVM EX01 are largely rebadged models from Chinese manufacturers BAIC, Dongfeng, and Zhongxing. Local content runs to an estimated 65% in areas like body panels, plastics, and upholstery; core structural and powertrain elements remain pre-fabricated Chinese imports.

Market scale and trajectory: Nigeria had an estimated 15,000 to 20,000 electric vehicles on its roads as of 2025 – up from virtually zero five years prior with the market projected to grow at 6.8% annually through 2031. BYD, JAC, and Dongfeng are already present through assembly partnerships or dealership networks. In May 2025, the Chinese government announced plans to establish dedicated EV factories in Nigeria as part of deepening bilateral economic ties. Ogun State separately announced a $40 million EV assembly hub – covering motorcycles, tricycles, cars, and buses projected to create more than 60,000 jobs, with Spiro already deploying battery-swapping stations in Abeokuta.

Historic milestone: Nigeria recorded its first 100% made-in-Nigeria EV export to the United States – an early-stage but symbolically significant signal that local assembly capability is beginning to yield exportable product.

What’s Being Said

“Chinese companies can underprice global competitors by around 30%, largely because of long-term low-interest financing from China’s state banks.”Researchers on China-Africa infrastructure financing

“Positive cases of technology transfer and skills training were found particularly in non-homogenous product sectors such as furniture, though linkages to domestic Nigerian firms remained low, limiting the development of industrial clusters.”Academic research on Chinese FDI in Nigeria

“Since solar cells account for roughly 40% of a panel’s price, if Nigeria can handle local assembly of the remaining components, it could retain over 60% of the value chain within the domestic economy.”Clean energy sector analysts on Nigeria’s solar localisation strategy

What’s Next

• Finalisation of the Ajaokuta Steel deal and the LONGi solar factory agreement will be the clearest near-term tests of how deep China’s manufacturing technology transfer to Nigeria actually goes in practice.

• The Mambila Plateau Hydropower Project (3.05 GW, $5.8 billion) remains the single largest pipeline item – expected completion by 2030 would materially reshape Nigeria’s power capacity.

• LONGi’s entry into green hydrogen development is an early signal to watch – if formalised, it would represent a qualitative shift from infrastructure provision to advanced technology partnership.

• Nigeria’s policy posture on trade defence – particularly whether it develops anti-dumping instruments for the steel sector, will determine whether Chinese investment builds local industry or displaces it.

• China’s pledge of scholarships and industrial training placements for more than 5,000 Nigerian students in AI, engineering, renewable energy, and manufacturing (February 2025) could significantly expand Nigeria’s technical base if the pipeline is sustained.

The Bottom Line

China’s technology presence in Nigeria is real, measurable, and in several sectors – telecoms, rail, power – already structural. The investment figures are not projections; the infrastructure has been built, the equipment is live, and in some cases Nigerian engineers are running systems they were trained by Chinese partners to operate.

But the depth of technology transfer, the kind that builds lasting domestic capability and industrial supply chains, remains shallow outside a handful of sectors and projects. Weak backward linkages, import dependency on Chinese components, and the competitive pressure of subsidised Chinese exports all limit how far these investments translate into a self-sustaining Nigerian industrial base.

Luxury on a Budget: How Smart Travellers Enjoy 5-Star Experiences Without Spending a Fortune

Key points:

. Luxury travel can be affordable with smart planning and budgeting.

. Booking trips early helps travelers get cheaper prices and better deals.

. Traveling during off-peak seasons reduces travel costs.

. Flexibility in travel dates helps find cheaper flights and hotel prices.

Main story

Many people believe luxury travel is only for rich people. Five-star hotels, beautiful resorts, and fine dining often seem too expensive for the average traveler. However, things are changing. Today, many smart travelers have discovered ways to enjoy luxury travel without spending too much money. With the right strategies and  planning, it is possible to experience comfort, style, and premium hospitality while still staying within your budget.

Planning Ahead Makes a Big Difference

One of the easiest ways to enjoy luxury travel at a lower cost is by planning your trip early. Many airlines, hotels, and travel platforms offer cheaper prices for travelers who book weeks or even months in advance.

Early bookings often come with special offers such as discounted room rates, free breakfast, or complimentary services. When you plan early, you also have more choices and can pick the best deals.  Planning your travel schedule early can also help you compare prices and choose the most affordable options without rushing.

Travel During Off-Peak Seasons

Another smart way to save money is by traveling during off-peak seasons. These are times when fewer people are traveling. During busy holiday seasons, hotels and flights are usually very expensive. But during quieter months, many luxury hotels reduce their prices to attract more visitors. Traveling during off-peak seasons also means fewer crowds, better service, and a more peaceful experience.

Look for Travel Packages

Many travel websites offer discounts and special deals for flights and hotels. Sometimes they even offer travel packages that include flights, hotels, and activities at a lower price. Smart travelers always look out for these deals before booking their trips. You can also follow travel websites or sign up for their newsletters to stay updated on new discounts.

Choose Boutique Hotels 

Large luxury hotel chains are not the only places that offer premium experiences. Boutique hotels and newly opened luxury properties often provide high-quality service, stylish rooms, and excellent amenities at lower prices. Boutique hotels usually focus on personalized service and unique designs, making them attractive alternatives to traditional luxury resorts.

New hotels may also offer promotional prices to attract guests and build their reputation. This gives travelers the opportunity to enjoy luxury experiences while paying much less than usual.

Use Travel Rewards Programs

Many airlines and hotels have loyalty or reward programs. These programs give travelers points every time they book flights or hotel stays. Later, these points can be used to get free hotel nights, flight upgrades, or other benefits. Some credit cards also offer travel rewards that help travelers save money.

Enjoy Luxury Experiences Without Staying in Luxury Hotels

Luxury travel is not only about staying in expensive hotels. You can still enjoy luxury experiences without paying for a costly room. For example, you can visit luxury hotel restaurants, relax at a spa, or enjoy beautiful beaches and tourist attractions. Some hotels even allow visitors to use their pools or facilities by paying a small fee.

Be Flexible With Your Travel Plans

Flexibility is one of the most powerful tools for saving money while traveling. Travelers who are open to adjusting their travel dates, destinations, or flight times often find much better deals. For example, mid-week flights are usually cheaper than weekend travel. Similarly, traveling at different times of the day can also reduce ticket prices.

Being flexible also allows travelers to take advantage of flash sales or last-minute discounts that can make luxury travel surprisingly affordable.

Bottom line

Luxury travel does not always have to be expensive. By planning early, traveling during quiet seasons, looking for deals, and using reward programs, you can enjoy high-quality travel without spending too much.

The secret is to travel smart. With the right strategies and a flexible mindset, you can explore beautiful destinations, enjoy excellent hospitality, and create unforgettable memories—all while staying within your budget.

Senator Aminu Tambuwal resigns from PDP

Sokoto

KEY POINTS

  • Sen. Aminu Tambuwal, representing Sokoto South Senatorial District, has formally resigned from the Peoples Democratic Party (PDP).
  • In a letter to the Ward Chairman of Tambuwal/Shinfiri Ward, the Senator cited persistent internal crises and leadership disagreements as the core reasons for his departure.
  • Tambuwal stated that ongoing conflicts have weakened the “unity and direction” that once defined the party.
  • The veteran politician previously served as Speaker of the House of Representatives and was a two-term Governor of Sokoto State.

MAIN STORY

The political landscape in Sokoto State has seen a major shift following the formal resignation of Senator Aminu Tambuwal from the Peoples Democratic Party (PDP). In a copy of his resignation letter made available to the News Agency of Nigeria (NAN) in Abuja, the Senator detailed his inability to continue active participation in a party facing deepening divisions at various levels.

Tambuwal’s career has been marked by significant moves between Nigeria’s major political blocks. He first rose to national prominence as the Speaker of the House of Representatives (2011 to 2015) under the PDP before defecting to the All Progressives Congress (APC) in 2014. He successfully contested the 2015 governorship of Sokoto State on the APC platform, only to return to the PDP later that same year. He was re-elected for a second term as governor in 2019 under the PDP.

Upon completing his second term as governor in 2023, he successfully contested and won the seat representing Sokoto South in the Nigerian Senate. In his most recent correspondence, he emphasized that the decision to leave was necessitated by the “ongoing conflicts” that have made it increasingly difficult to maintain his commitment to the party’s current trajectory.

WHAT’S BEING SAID

  • “The persistent internal crisis, leadership disagreements, and divisions within the party at various levels have made it increasingly difficult for me to continue,” wrote Sen. Aminu Tambuwal.
  • The News Agency of Nigeria (NAN) reports that the formal notice was delivered to the party’s leadership in his home ward of Tambuwal/Shinfiri.
  • Tambuwal concluded his letter by noting that the conflicts have “weakened the unity and direction that once defined the party.”

WHAT’S NEXT

  • The PDP leadership at both the state and national levels is expected to issue a formal statement regarding the resignation of the high-ranking Senator.
  • The Senate President is expected to read the formal notification of resignation on the floor of the Red Chamber to update the official seating and party records.
  • Analysts are monitoring Sokoto State for signs of further defections from Tambuwal’s political associates following his exit.

BOTTOM LINE

The Bottom Line is that the PDP has lost one of its most prominent figures in the North-West. By citing a loss of unity and direction, Tambuwal’s resignation highlights the significant pressure the party’s internal leadership faces as it attempts to maintain a cohesive front in the lead-up to the next electoral cycle.

Thursday Chronicles: When Global Thunder Strikes Local Pockets

Hello, my International People! Welcome to this week’s gathering of the “Why is Everything So Expensive?” Committee. Pull up a chair—but don’t move it too much, we’re trying to conserve energy.

There is a peculiar type of confusion that hits you when you’re standing at a filling station in Obalende or Abuja, staring at a price board that looks like a phone number, while listening to news about a war thousands of miles away. You find yourself wondering, “Wait first, I don’t know where that country is on the map, I don’t speak their language, and they definitely don’t eat Jollof rice… so why is their problem draining my bank account?” It’s the ultimate “What concerns me?” situation that, unfortunately, concerns us very deeply.

We often think of global conflicts as “foreign movies”; something we watch on the news, sigh about, and then switch over to a football match. But the global economy is like a giant bowl of ewedu; you can’t pull one string without the whole thing vibrating. When war breaks out in major oil-producing regions or near critical shipping routes (like the Black Sea or the Suez Canal), the world’s “energy heart” skips a beat.

Here is the technical bit: Crude oil is a global commodity. When a war starts, “Supply Risk” enters the room. Even if the oil is still flowing, the uncertainty alone sends prices into a frenzy. Insurance for ships becomes more expensive, routes become longer to avoid “hot zones,” and suddenly, that barrel of oil is wearing a “designer” price tag. 
Because we currently export our “crude” and import our “refined” fuel, we are essentially sending our raw gold away and buying it back as jewelry—at the current global market rate. So, when a missile flies in a land you’ve never visited, the “Premium” in your Premium Motor Spirit (PMS) becomes very, very literal.

In Nigeria, fuel is the “Holy Grail” of the economy. It is the physics of our survival. Everything moves on petrol or diesel.

  • The truck bringing tomatoes from the North? Fuel. The “I-pass-my-neighbor” generator keeping the cold-room business alive? Fuel. The yellow bus taking you to the office while the conductor argues about “change”? Fuel.

When the price at the pump jumps because of global “issues,” it creates a domino effect that should be studied in school. It’s not just about your car; it’s about the fact that the woman selling roasted corn now has to pay more for the transport of that corn, so she raises the price. You pay more for the corn, which means you have less for data, which means you’re frustrated. It’s a cycle of “High Cost of Living” that makes us all feel like we’re running a race on a treadmill that’s set to “Infinite.”

The most Nigerian part of this struggle is how we’ve turned “managing” into an Olympic sport. We’ve seen people starting “car-pooling” groups that look like small parliaments. We’ve seen the rise of “Calculated Movement”, where you only go out if the destination is worth the 1,200 Naira per liter you’re burning.

We laugh about it on social media, making memes about how we’re going to start riding horses to work, but behind the laughter is a masterclass in adaptation. We are learning to squeeze water out of stone, prioritizing our needs over our wants, and surviving a global crisis that we didn’t invite to our doorstep.

Key Take-Home Points for the High-Tension Season

  • The World is a Global Village (and we are the vulnerable street): What happens in the “far away” matters here. Staying informed about global news isn’t just for “big men”; it helps you predict when your transport fare is about to double.
  • Inflation is a Chain Reaction: Fuel is the first link. When it breaks, every other price follows. Expect the market to be “unfriendly” for a while and plan your bulk purchases accordingly.
  • The Refined Reality: Our struggle is a loud cry for local refining. As long as we depend on the “outside” to process our “inside,” we will always be at the mercy of foreign winds.
  • Energy Auditing: Now is the time to be “wicked” with your power consumption. If a light doesn’t need to be on, kill it. If a trip can be an email, send it.

Lessons to Carry Through the Hard Times

  • Diversify Your Logistics: If you have the option to use public transport or a bicycle for short distances, do it. Your car tank will thank you.
  • Support Local: When global prices rise, look for local alternatives that don’t rely heavily on long-distance transport.
  • Financial Shielding: In times of global instability, keep your “emergency fund” close. This isn’t the season for “YOLO” spending; it’s a season for “YOL-Safety.”
  • Don’t Lose Your Joy: The price is high, but your spirit should be higher. We are a people who have survived “scarcity,” “recessions,” and “structural adjustments.” This too shall pass.

As we wrap up this week’s chronicles, take a moment to breathe. The global stage is messy, and the effect on our local streets is heavy, but look at you; you’re still standing, still striving, and still moving.

We may not have control over the wars “over there,” but we have control over how we support each other “over here.” Share a ride, share a meal, and definitely share a laugh.

See you next Thursday—hopefully with a calmer world and a friendlier pump!

Hezbollah launches “Operation Eaten Straw” as Israel strikes Central Beirut

KEY POINTS

  • Hezbollah announced a new military campaign named “Operation Eaten Straw” late Wednesday, firing more than 100 rockets into northern Israel.
  • Israel responded with “near-simultaneous” airstrikes on Beirut, including hits on the city center and the southern Dahiyeh suburbs.
  • The Lebanese Health Ministry reported 64 killed and 142 wounded in a single day, bringing the total death toll since the March 2 escalation to 634.
  • IDF Chief Eyal Zamir has ordered the redeployment of the Golani Brigade from the Gaza Strip to the northern front to reinforce the border.

MAIN STORY

The conflict between Israel and Hezbollah has entered a new phase with the launch of “Operation Eaten Straw.” Named after a Quranic verse describing the destruction of an invading army, the campaign saw Hezbollah fire over 100 rockets toward northern Israel.

Air raid sirens sounded for hours, and Israel’s emergency services reported minor injuries to two people. Hezbollah stated the move was a direct response to Israeli attacks on Lebanese towns and Beirut.

Israel’s retaliation included six simultaneous airstrikes on Beirut. Residents reported explosions that sent shockwaves across the city, rattling buildings in several neighborhoods. The IDF stated it targeted Hezbollah command centers and weapons depots in the southern Dahiyeh suburbs, having previously called on residents to evacuate. A separate strike in central Beirut killed four people and injured four others, according to Lebanon’s Health Ministry.

On the tactical front, the Israeli military is moving its most battle-hardened troops to the border. The Golani Brigade, which has been fighting in Gaza for over two years, is now arriving in the north. This redeployment follows a situational assessment by military leaders to reinforce the Northern Command as cross-border attacks intensify. Both sides have traded accusations of breaching the November 2024 ceasefire, with Israel claiming Hezbollah is attempting to rearm.


WHAT’S BEING SAID

  • “Your vital centres and bases will burn one by one in the fire you have ignited,” stated a military spokesman for the Khatam-al Anbiya Central Headquarters.
  • The IDF confirmed that the troop transfer followed a “situational assessment” by Chief of Staff Eyal Zamir.
  • Lebanese Media broadcast images showing several destroyed floors of a residential building in the capital following the latest strikes.

WHAT’S NEXT

  • The Golani Brigade will complete its transition to the Northern Command to reinforce the frontier.
  • Health authorities in Lebanon are expected to release updated figures as rescue teams reach buildings hit in the Dahiyeh suburbs.
  • The UN Security Council has scheduled a session for March 17 to discuss the status of the regional conflict.

BOTTOM LINE

The Bottom Line is that the 2024 ceasefire has collapsed. With Hezbollah launching its largest barrage in the current escalation and Israel moving elite units from Gaza to the north, the focus of the regional war has officially shifted to the Lebanese border.

Japan to release 45 days of oil reserves as Middle East crisis deepens

Oil Prices Drop, Here's Why

KEY POINTS

  • Prime Minister Sanae Takaichi announced that Japan will begin releasing national oil reserves as early as Monday to combat soaring fuel prices.
  • The move comes as the Strait of Hormuz blockade effectively stops crude oil tankers, threatening Japan’s energy security.
  • Japan will release 15 days of private-sector reserves followed by 30 days of government-held oil, totaling a 45-day supply buffer.
  • Average retail gasoline prices in Japan have hit 161.8 yen ($1.02) per liter, with experts predicting a further 20-yen jump next week.

MAIN STORY

Japan is taking emergency steps to protect its economy from the escalating conflict in the Middle East. Prime Minister Sanae Takaichi confirmed on Wednesday that the government will tap into its strategic oil stockpiles starting next week.

Because Japan relies so heavily on Middle Eastern crude, the current inability of tankers to pass through the Strait of Hormuz has created a high risk of supply shortages by the end of March.

Under this emergency plan, the government will first release 15 days’ worth of reserves held by private companies. Once that is exhausted, it will dip into the state-owned reserves for another 30 days. Interestingly, Japan has decided to act immediately on its own, without waiting for a coordinated decision from the International Energy Agency (IEA). Takaichi told reporters at her office that the country’s unique vulnerability meant the government could not afford to wait while supply lines are being cut off.

The impact is already being felt at the pump. The Ministry of Economy, Trade and Industry reported that gasoline prices have risen for four weeks straight, crossing the 160-yen mark for the first time in three months. The Oil Information Center warns that refineries are already hiking wholesale prices in response to the global surge. If the blockade continues, drivers could see prices spike by an additional 20 yen per liter by next week.

WHAT’S BEING SAID

  • “Japan relies heavily on Middle Eastern oil and is therefore particularly vulnerable,” said Prime Minister Sanae Takaichi.
  • Public broadcaster NHK reported that the situation has “effectively prevented crude oil tankers from passing” through the critical Hormuz corridor.
  • The Oil Information Center noted that refineries are already raising wholesale prices as they brace for a “further 20-yen” climb in retail costs.

WHAT’S NEXT

  • Monday Rollout: The first barrels of private-sector oil will hit the Japanese market to stabilize supply levels at refineries.
  • Refinery Monitoring: The Ministry of Economy will monitor wholesale price hikes to ensure that the reserve release actually reaches consumers at the pump.
  • Diplomatic Pressure: Japan is expected to work with international partners to seek a maritime solution to the Hormuz blockade to restore regular tanker traffic.

BOTTOM LINE

The Bottom Line is that Japan is hitting the “emergency button” on its energy supply. By releasing 45 days of oil, Prime Minister Takaichi is trying to prevent a domestic price explosion before the end of the month. However, with gasoline already at a three-month high and tankers still stuck in the Middle East, Japanese households are facing one of the most expensive weeks at the pump in recent history.

NAICOM orders Insurers to link policies with NIN by April 30

 Key points:

NAICOM mandates linkage of all insurance policies with National Identification Numbers (NIN) to strengthen transparency and curb fraud.

The directive applies to both individual and group insurance policies nationwide.

Reform aims to enhance Know-Your-Customer (KYC) compliance and improve verification across government agencies.

Main story

The National Insurance Commission (NAICOM) has directed all insurance companies in Nigeria to link insurance policies to the National Identification Number (NIN) of policyholders by April 30 as part of efforts to enhance transparency and curb fraud in the industry.

Commissioner for Insurance and Chief Executive Officer of NAICOM, Olusegun Omosehin, disclosed this during a media interactive session in Lagos.

Omosehin said the directive forms part of strengthened Know-Your-Customer (KYC) requirements aimed at improving identity verification in insurance transactions across the country.

According to him, the new requirement will take effect from April 1, mandating insurers to ensure that every policy issued is directly connected to the policyholder’s NIN.

The NAICOM boss explained that the directive covers both individual and group insurance policies.

For group life insurance, Omosehin said employers would be required to provide the NINs of all employees covered under their policies to ensure accurate records and transparency.

He noted that the measure would address cases where organisations insure fewer employees than they actually have while submitting claims for individuals not captured under the policy.

Omosehin added that the policy would strengthen regulatory oversight and promote accountability within the insurance sector.

The issues

The Nigerian insurance industry has long faced challenges related to identity verification, fraudulent claims and weak compliance with regulatory standards.

Experts say the absence of a unified identity system in insurance transactions has made it difficult for regulators to accurately verify policyholders and track claims.

By linking insurance policies to the NIN database, regulators aim to enhance data accuracy, reduce fraudulent practices and improve compliance with statutory requirements.

What’s being said

Omosehin said NAICOM is also digitising its processes and building digital platforms that will enable government agencies to easily verify insurance records.

He disclosed that institutions such as the National Pension Commission and the Bureau of Public Procurement would be able to access the commission’s verification system to confirm the authenticity of insurance certificates and determine the number of employees covered under group policies.

”The reform aligns the Nigerian insurance industry with global anti-money laundering and counter-terrorism financing standards.”

He observed that the insurance sector had been the last major segment of the financial services industry to fully implement strict KYC requirements, unlike banks, telecommunications companies and stockbroking firms.

Omosehin also said the commission is strengthening consumer protection measures to build public confidence in the sector.

”NAICOM has established mechanisms to ensure fair treatment of policyholders, improve transparency in policy documentation, and promote prompt settlement of claims.”

The commission, he added, has also improved dispute resolution channels to enable policyholders lodge complaints and receive timely responses.

What’s next

NAICOM expects insurance companies and policyholders to comply fully with the directive before the April 30 deadline.

The commission will also continue implementing broader reforms in the sector, including its ongoing recapitalisation exercise aimed at strengthening insurance firms.

Bottom line

By mandating the linkage of insurance policies with the NIN, NAICOM hopes to strengthen identity verification, reduce fraud and enhance transparency, while positioning the Nigerian insurance industry for greater credibility and regulatory compliance.

Dollar to Naira exchange rate today, March 12th, 2026

Dollar To Naira Exchange Rate

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1373 per $1 on Thursday, March 12th, 2026. The naira traded as high as 1388 to the dollar at the investors and exporters (I&E) window on Wednesday. This is brought to you by Bizwatch Nigeria.

How much is a dollar to naira today in the black market?


What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)
?

See the black market Dollar to Naira exchange rate for 11th March, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1420 and buy at ₦1400 on Wednesday 11th March, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1420
Buying Rate₦1400

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1388
Lowest Rate₦1373

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Stakeholders advocate wider use of community service to decongest Lagos Correctional Centres

Key Points:

  • Justice sector stakeholders urge broader application of community service sentencing to reduce congestion in Lagos correctional centres.
  • The National Human Rights Commission (NHRC) calls for a coordinated framework to monitor non-custodial sentencing.
  • NHRC Executive Secretary Tony Ojukwu states that respect for human rights is crucial to enhancing national security.

Main story

Stakeholders in Nigeria’s justice sector have renewed calls for the wider application of community service sentencing as a strategy to decongest correctional centres and strengthen the administration of criminal justice in Lagos State.

The call was made during a stakeholders’ engagement between the Criminal Justice Network of Nigeria (CJNN) and the National Human Rights Commission (NHRC) aimed at strengthening partnerships to advance the implementation and monitoring of community service orders within the justice system.

The meeting, organised in collaboration with Human Rights Law Services (HURILAW) and supported by the German Catholic development agency Misereor, brought together civil society organisations and legal practitioners from various law chambers across Lagos State to deliberate on the challenges and opportunities surrounding non-custodial sentencing.

Convener of CJNN, Nathaniel Ngwu, explained that community service is a court-ordered punishment that allows offenders convicted of minor offences to perform unpaid work for the benefit of society instead of serving custodial sentences in correctional facilities.

According to him, the measure is intended for offenders who would ordinarily receive short-term imprisonment but do not pose a threat to public safety.

Ngwu emphasised that individuals convicted of serious crimes are not eligible for community service orders, noting that the concept aims to ensure that punishment also contributes positively to society.

He traced the origin of community service sentencing to the British Mandate administration in Palestine and noted that it has since been adopted in several jurisdictions worldwide, including the United States, where offenders carry out supervised work for municipal or county authorities as an alternative to incarceration.

However, he identified logistical constraints as a major challenge hindering the effective implementation of community service orders by the Lagos State judiciary.

Ngwu stressed that addressing these logistical gaps is essential to ensuring that offenders assigned to community service are properly supervised and prevented from absconding.

He therefore urged the NHRC and other justice sector institutions to support the initiative, noting that sustained collaboration among stakeholders would be critical to ensuring the success of non-custodial sentencing.

The issues

Correctional centres across Nigeria, including those in Lagos State, remain severely overcrowded, largely due to the high number of inmates serving short-term sentences for minor offences.

Justice reform advocates argue that non-custodial sentencing options such as community service can significantly reduce congestion in prisons while promoting restorative justice and reducing the cost of incarceration.

However, weak implementation frameworks, inadequate logistics, and limited monitoring systems continue to hinder the widespread adoption of such alternatives within the criminal justice system.

What’s being said

Director of the NHRC in Lagos State, Lucas Koyejo, said the commission supports efforts to expand the use of non-custodial sentencing but emphasised that sentencing decisions ultimately remain the prerogative of the judiciary.

He also highlighted the need for a clear and coordinated monitoring framework to ensure the effective implementation of community service orders across Nigerian courts.

Meanwhile, Executive Secretary of the NHRC, Tony Ojukwu, stressed that respect for human rights is critical to achieving sustainable security outcomes.

Speaking at a dialogue on building trust and protecting human rights organised by Lift for Citizens Development and Advancement (LICDA), Ojukwu said human rights and security should not be viewed as opposing interests.

”When communities trust law enforcement agencies, they are more willing to cooperate in crime prevention and intelligence gathering.”

He added that transparent and fair justice processes enhance the credibility of convictions, while decisive action against abuses strengthens the legitimacy of institutions.

What’s next

Stakeholders have called for stronger collaboration between justice sector institutions, civil society organisations, and the NHRC to address logistical barriers and strengthen monitoring mechanisms for non-custodial sentencing.

They also emphasised the need for continued advocacy to encourage courts to make greater use of community service orders for minor offences.

Bottom line

Justice reform advocates believe that expanding the use of community service sentencing could significantly ease overcrowding in correctional centres while promoting restorative justice and improving the efficiency of Nigeria’s criminal justice system.

UN warns war with Iran is costing $1 Billion daily

Nigeria

By Boluwatife Oshadiya | March 12, 2026

Key Points
  • UN emergency relief chief says the Middle East conflict is costing around $1 billion per day
  • A $23 billion humanitarian appeal remains about two-thirds underfunded
  • Closure of the Strait of Hormuz is raising global food, energy, and fertilizer costs
Main Story

The United Nations’ top humanitarian official has warned that the escalating war in the Middle East is costing approximately $1 billion every day, diverting resources at a time when global humanitarian needs are surging.

Speaking in Geneva on Wednesday, UN Emergency Relief Coordinator Tom Fletcher said the financial and human costs of the conflict were becoming unsustainable while international aid funding continues to fall short.

“We’re seeing the consequences spread faster than we can respond,” Fletcher told reporters. “This is a moment of grave peril.”

The UN launched a $23 billion humanitarian appeal in December aimed at assisting 87 million of the world’s most vulnerable people, but Fletcher said the initiative remains around two-thirds underfunded.

According to the UN official, the funding gap currently stands at more than $14 billion, leaving critical relief programmes at risk.

“We still need over $14 billion now to deliver this plan, and this is at a time when conflict in the Middle East is costing one billion dollars a day,” Fletcher said. “Even just one billion dollars would allow us to save millions of lives.”

Humanitarian agencies are also increasingly concerned about the economic ripple effects of the conflict, particularly after the closure of the Strait of Hormuz on March 2.

The strategic maritime corridor handles roughly 20 percent of global oil shipments, meaning disruptions can quickly affect global energy markets and supply chains.

The Issues

Aid organisations warn that global humanitarian systems are already stretched by overlapping crises across multiple regions. Conflict zones such as Gaza and Sudan currently top the UN’s emergency funding priorities, with millions of civilians facing acute shortages of food, medicine, and shelter.

The conflict’s impact on global trade routes is also raising the cost of critical commodities including food, fertilizer, and fuel — factors that disproportionately affect vulnerable populations in developing regions, particularly across sub-Saharan Africa.

Humanitarian workers themselves are also increasingly at risk. Aid agencies report rising attacks on humanitarian personnel operating in conflict zones worldwide.

What’s Being Said

“Aid workers are increasingly under attack,” Fletcher said. “Human ingenuity is being applied to find ever more sinister ways to kill at scale.”

“This is a tough moment for humanitarian action. We are overstretched, under sustained attack and under-resourced, but we refuse to retreat from our principles,” Fletcher added.

What’s Next
  • The UN is expected to intensify diplomatic efforts to secure additional funding for its humanitarian appeal.
  • Aid agencies are pushing for stronger protections for humanitarian workers operating in conflict zones.
  • Global markets will monitor the impact of disruptions to the Strait of Hormuz on energy and food supply chains.

OPEC Oil output rises by 164,000 barrels per day in february

By Boluwatife Oshadiya | March 12, 2026

Key Points
  • OPEC crude oil production increased by 164,000 barrels per day in February to 28.63 million bpd
  • Venezuela recorded the largest output gain while Nigeria saw the biggest decline in production
  • Global oil demand is projected to grow by 1.38 million bpd in 2026, reaching 106.5 million bpd
Main Story

Crude oil production by the Organisation of the Petroleum Exporting Countries (OPEC) rose by 164,000 barrels per day (bpd) in February, reaching approximately 28.63 million bpd, according to the cartel’s latest Monthly Oil Market Report released Wednesday.

The increase reflects higher output from several member states, most notably Venezuela, which posted the largest monthly gain. The country’s production rose by 80,000 barrels per day to 903,000 bpd, continuing a gradual recovery in its oil sector after years of sanctions and operational challenges.

In contrast, Nigeria recorded the steepest production decline among OPEC members during the same period. Nigeria’s output fell by 28,000 barrels per day to around 1.46 million bpd, reflecting persistent challenges including pipeline vandalism, oil theft, and infrastructure constraints in the Niger Delta.

The report also showed that total crude production by the broader OPEC+ alliance, which includes non-OPEC producers such as Russia, increased by 445,000 bpd to 42.72 million bpd.

Despite the supply increase, OPEC maintained its global oil demand growth forecast for 2026, projecting a year-on-year increase of 1.38 million bpd, bringing total demand to about 106.5 million bpd.

The Issues

The divergence in production trends highlights structural challenges facing several African oil producers. Nigeria, Africa’s largest oil producer, continues to struggle with oil theft, pipeline sabotage, and underinvestment in upstream infrastructure.

At the same time, global demand growth is increasingly shifting toward non-OECD economies, particularly in Asia and the Middle East. According to OPEC’s projections, demand in non-OECD countries will rise by 1.23 million bpd in 2026, reaching 60.44 million bpd.

By contrast, demand in advanced economies belonging to the Organisation for Economic Co-operation and Development (OECD) is expected to grow modestly by 150,000 bpd, reaching 46.08 million bpd.

What’s Being Said

“Demand growth remains solid, particularly across emerging economies where industrialisation and mobility trends continue to support oil consumption,” OPEC said in the report.

“Nigeria’s production challenges underscore the urgent need for stronger security measures and sustained upstream investment,” said Ayodele Oni, Energy Lawyer and Partner, Bloomfield Law Practice.

What’s Next
  • OPEC will continue monitoring global supply and demand trends ahead of its next ministerial meeting.
  • Oil demand is projected to rise further in 2027 to about 107.87 million bpd, according to the group’s forecast.
  • Energy markets will watch whether Nigeria and other producers can stabilise production amid rising global demand.

Trump plans strategic Oil reserve release to cool rising global prices

By Boluwatife Oshadiya | March 12, 2026

Key Points
  • U.S. President Donald Trump says strategic oil reserves will be released to push down rising global oil prices
  • International Energy Agency members plan a coordinated release of about 400 million barrels of crude
  • The U.S. Department of Energy will release 172 million barrels from the Strategic Petroleum Reserve over four months
Main Story

U.S. President Donald Trump says the United States will release oil from its Strategic Petroleum Reserve (SPR) in a bid to stabilise rapidly rising global crude prices, while pledging that the reserves will later be replenished.

Trump made the announcement during an interview with American news outlet Local 12 on Wednesday, saying the move is designed to ease pressure on energy markets already strained by geopolitical tensions and supply disruptions.

“We’ll do that, and then we’ll fill it up,” Trump said during the interview. “The goal is to bring prices down quickly and stabilise the market.”

The move comes after the International Energy Agency (IEA) announced a coordinated release of emergency oil supplies by its 32 member countries. According to an official statement from the agency, the countries will collectively inject 400 million barrels of crude oil into the global market in what could become one of the largest coordinated releases in history.

The U.S. Department of Energy confirmed that Washington will contribute 172 million barrels from the Strategic Petroleum Reserve starting next week. The release is expected to occur over a period of roughly four months.

The Strategic Petroleum Reserve, created in the aftermath of the 1970s oil crises, remains the largest emergency crude oil stockpile in the world, with storage facilities located along the U.S. Gulf Coast. The reserve is intended primarily to cushion the U.S. economy against severe supply disruptions and fulfil international energy security obligations.

Energy markets have faced renewed volatility in recent weeks due to tensions in the Middle East and disruptions to key global shipping routes, including the Strait of Hormuz — a critical corridor for global oil flows.

The Issues

The decision highlights growing concerns among policymakers about the impact of rising oil prices on global inflation and economic recovery. Energy costs remain one of the most sensitive drivers of consumer prices worldwide, particularly in import-dependent economies.

Strategic petroleum reserves are typically deployed during supply emergencies such as wars, sanctions, or major infrastructure disruptions. Analysts note that large releases can provide short-term price relief but rarely resolve underlying structural supply constraints.

The coordinated action by the IEA also signals growing cooperation among major energy-consuming economies as markets react to geopolitical instability and tightening supply conditions.

What’s Being Said

“Strategic stock releases can temporarily calm markets and provide supply certainty, but they do not replace long-term investment in energy production,” said Fatih Birol, Executive Director, International Energy Agency.

“Markets respond strongly to coordinated action by major consuming countries. The psychological effect alone can push prices downward in the short term,” said Helima Croft, Global Head of Commodity Strategy, RBC Capital Markets.

What’s Next
  • The U.S. Department of Energy will begin releasing 172 million barrels from the Strategic Petroleum Reserve starting next week.
  • IEA member states are expected to coordinate the broader 400-million-barrel release over the coming months.
  • Energy analysts will closely monitor whether the move stabilises crude prices or if geopolitical tensions continue to drive volatility.

Defence Minister assures control as 65 Soldiers killed in Jihadist attacks

Key points:

  • At least 65 Nigerian soldiers reportedly killed in jihadist raids across the North-East in two weeks.
  • Defence Minister Gen. Christopher Musa (rtd) says terrorists suffered heavier losses and troops remain in control.
  • Senate honours fallen soldiers and calls for intensified military operations against insurgents.

Main story

Nigeria’s Minister of Defence, Gen. Christopher Musa (rtd), has assured Nigerians that the armed forces remain firmly in control of the security situation despite recent deadly jihadist attacks that reportedly claimed the lives of at least 65 soldiers in the North-East within the past two weeks.

The minister acknowledged that the military suffered casualties during renewed assaults by insurgents in the North-East and North-West but insisted that the armed forces inflicted heavier losses on the terrorists.

Speaking after a strategic meeting with service chiefs to review operational strategies across various theatres of operation, Musa said troops were intensifying efforts to dismantle terrorist networks and protect communities.

“We are putting in every effort to ensure that we secure the country. We are aware that we have suffered some casualties, but I can tell you the terrorists, the bandits, are taking more,” he said.

According to the minister, the military is targeting insurgent commanders and operational assets as part of a sustained counter-terrorism campaign.

“We’re taking more of their commanders and assets out, and we’ll continue to do that. We want to appeal to Nigerians not to give up,” he added.

The renewed attacks were linked to fighters of the Islamic State West Africa Province (ISWAP), who reportedly overran four military bases in Borno State on March 5 and 6, killing dozens of soldiers.

In another statement, the Nigerian Army said troops later repelled coordinated attacks launched by ISWAP on military positions in Delwa, Goniri, Kukawa and Mainok between March 8 and 9.

Data from the Armed Conflict Location and Event Data Project also indicated that about 300 civilians, including women and children, were abducted during the raids, with insurgents deploying sophisticated weapons such as anti-aircraft machine guns and drones.

The attacks are part of a pattern of coordinated assaults by jihadist groups on military facilities in northern Nigeria, where a nearly two-decade insurgency continues to challenge security forces.

The issues

The resurgence of coordinated insurgent attacks has raised concerns about the evolving tactics of terrorist groups operating in the North-East. Analysts note that the use of advanced weapons and drones indicates a growing operational capacity among insurgents.

The conflict traces back to the escalation of violence following the extra-judicial killing of Boko Haram founder Mohammed Yusuf in 2009, which triggered a prolonged insurgency that has devastated parts of northern Nigeria.

What’s being said

Musa urged the media to exercise professionalism and avoid disseminating unverified information or terrorist propaganda that could undermine troop morale.

“Responsible journalism is critical to sustaining the morale of our troops and preventing the spread of narratives that may embolden criminal groups,” he said.

Meanwhile, the Senate observed a minute of silence in honour of the soldiers who lost their lives during the attack on a military formation in Kukawa Local Government Area of Borno State.

The resolution followed a motion by Senator Mohammed Monguno (Borno North), who described the assault as a coordinated attack by suspected Boko Haram insurgents.

Monguno told lawmakers that the terrorists launched the offensive in the early hours of March 9, engaging troops in a fierce battle that lasted nearly 24 hours.

He disclosed that a senior officer, Lt-Col Umar Faru, along with several other soldiers, was killed while defending the base.

The senator also expressed concern that insurgents burned military vehicles and looted weapons during the attack.

What’s next

The Senate has called for intensified military operations to counter the renewed wave of insurgent attacks and restore stability in the region.

Security authorities are also expected to review operational strategies and strengthen intelligence gathering as part of ongoing counter-insurgency efforts.

BOTTOM LINE

Despite recent losses suffered by the Nigerian military, authorities maintain that troops remain resolute in the fight against terrorism, while lawmakers and security experts call for stronger operational responses to curb the resurgence of insurgent attacks in the North-East.

Tinubu Reaffirms Commitment to Democracy, Rule of Law

By Boluwatife Oshadiya | March 11, 2026

Key Points
  • President Tinubu says he remains a “die-hard democrat” committed to Nigeria’s unity
  • Remarks delivered during interfaith Ramadan gathering with APC and IPAC leaders
  • President recalls pro-democracy struggle and stresses importance of rule of law
Main Story

President Bola Ahmed Tinubu on Wednesday reaffirmed his commitment to democratic governance and the rule of law, describing himself as a “die-hard democrat” devoted to Nigeria’s political stability and national unity.

Tinubu made the remarks during an interfaith breaking-of-fast event held with leaders of the All Progressives Congress (APC) and the Inter-Party Advisory Council (IPAC) at the Presidential Villa in Abuja.

Addressing the gathering, the president reflected on Nigeria’s democratic journey and the sacrifices made by pro-democracy activists during the country’s struggle for civilian rule.

“I’m a die-hard democrat. I follow that belief wholeheartedly and remain committed to a united Nigeria. That principle and philosophy will live and die with me,” Tinubu said.

The president noted that democracy thrives on open debate and tolerance for differing views, stressing that minority opinions must be respected even when they do not prevail in decision-making.

“A minority will have their say, though they might not have their way. That is the sweetness and essence of democracy,” he said.

Tinubu also recalled the experiences of activists during the pro-democracy movement of the 1990s, including periods of detention, exile, and political resistance against military rule.

“We went to detention, protested and faced attacks. Some of us went into exile and formed NADECO,” he said, referring to the National Democratic Coalition that played a central role in the struggle for the restoration of democratic governance.

The president emphasised that democratic participation in Nigeria remains voluntary and must be guided by adherence to the rule of law and institutional processes.

What’s Being Said

“I’m glad we are all democrats and subscribe to this democracy voluntarily and willingly. We have pursued it selflessly for 26 years. Some of us still carry bruises from the struggle,” Tinubu said.

“We must debate intellectually and interrogate one another honestly, but remain committed to the peace and stability of the country,” the president added.

He also referenced his decision to sign the Electoral Act passed by the National Assembly, describing it as a demonstration of respect for democratic institutions.

“I signed the Electoral Act because there was an overwhelming majority in the National Assembly that passed it. I submitted myself to the principle of the rule of law and democracy,” he said.

What’s Next
  • Political parties are expected to intensify consultations with electoral stakeholders ahead of future elections and ongoing reforms to Nigeria’s electoral system
  • The presidency is expected to continue engagement with political parties and civil society groups as part of efforts to strengthen democratic institutions
  • National political dialogue around governance reforms and electoral administration is likely to intensify ahead of the 2027 general elections

Senate confirms Taiwo Oyedele as Minister of State for Finance

By Boluwatife Oshadiya | March 11, 2026

Key Points
  • Senate confirms Taiwo Oyedele as Minister of State for Finance after screening session
  • Oyedele proposes forward crude sales strategy to stabilise government revenues and fuel prices
  • Fiscal policy expert previously chaired Nigeria’s Presidential Committee on Fiscal Policy and Tax Reforms
Main Story

The Nigerian Senate on Wednesday confirmed the appointment of Taiwo Oyedele as Minister of State for Finance following an extensive screening session in Abuja that focused on fiscal policy, revenue generation, and economic stability.

The confirmation came after nearly three hours of questioning by senators across party lines, during which Oyedele outlined proposals aimed at strengthening government finances and stabilising Nigeria’s volatile revenue base.

During the session, Oyedele proposed the use of forward crude sales as a fiscal strategy to protect the federal budget from sudden swings in global oil prices.

“One strategy used in several countries is selling crude forward. Nigeria can lock in a price for a portion of our crude for a period of time. That would guarantee budget financing and also give Nigerians stability, so prices are not fluctuating the way we have seen in recent days,” Oyedele said.

He also addressed the long-standing issue of delayed payments to government contractors, warning that irregular payments create a “trust deficit premium” that inflates project costs.

According to him, contracts awarded without guaranteed funding often become significantly more expensive as contractors factor in the risk of delayed payments.

Oyedele further urged the government to broaden its revenue sources beyond taxation and oil exports, highlighting Nigeria’s underdeveloped solid minerals sector as a potential revenue driver.

“For many years as a country, we have disproportionately focused on taxation and oil and gas, and that has taken our attention away from other areas where we can generate revenue,” he said.

The newly confirmed minister also stressed the importance of realistic budgeting and stronger fiscal discipline, noting that nearly half of Nigeria’s federal and state budgets are currently financed through deficits.

“Looking at Nigeria’s budgets over the past five years, many appeared too ambitious compared to the revenue. We were focusing on expenditure without paying enough attention to the revenue side,” he said.

President Bola Tinubu had earlier nominated Oyedele to the position, replacing Doris Uzoka-Anite, who was redeployed to the Ministry of Budget and National Planning as Minister of State. The nomination was transmitted to the Senate in a letter read during plenary by Senate President Godswill Akpabio.

Before his ministerial nomination, Oyedele served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, where he led efforts to overhaul Nigeria’s tax system and improve revenue administration.

What’s Being Said

“If the government gets more revenue because subsidy has been removed, it is actually a transfer from the people to the government. The only way we can make that sacrifice worthwhile is to spend that money in areas of priority for the people,” Oyedele said during the screening.

“Those priorities can be as basic as roads from the farm to the warehouse, to the factory, and to the markets. When that happens, people see the impact almost immediately,” he added.

Senate President Godswill Akpabio praised President Tinubu’s choice following the confirmation vote.

“The President has appointed someone with the necessary expertise for the job — a square peg in a round hole,” Akpabio said.

What’s Next
  • Oyedele is expected to be sworn in as Minister of State for Finance and join the Federal Executive Council in the coming days
  • The finance ministry is expected to coordinate closely with the Presidential Fiscal Policy and Tax Reform implementation team to roll out new tax frameworks
  • Fiscal policy proposals related to solid minerals development and revenue diversification may be presented to the National Assembly in the coming months