Tuesday, December 30, 2025
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Tax Reforms Exempt Food, Education, Agriculture — FIRS

Nigeria is set for a sweeping overhaul of its tax system, with the Federal Inland Revenue Service (FIRS) announcing that food, education, agriculture, and shared transportation will be exempt from value-added tax (VAT) under newly signed reforms.

The reforms, described as the most ambitious fiscal transformation since independence, aim to ease the burden on citizens and businesses while boosting government revenue collection.

Executive Chairman of FIRS, Zacch Adedeji, disclosed the details in Abuja during an interview marking his two years in office. He credited President Bola Tinubu for driving the initiative, saying it fulfils the administration’s campaign pledge to simplify taxation and encourage enterprise.

“With these new laws, food, education, transport, and agriculture will be VAT-free,” Adedeji said. “The President has fulfilled his promise to make businesses flourish by removing all burdens and hurdles. This is the best thing that has happened to Nigeria’s fiscal ecosystem since 1960.”

The reforms consolidate multiple tax laws into a single code, due to take effect in January. The new framework reduces Nigeria’s tax types to single digits, simplifies compliance for individuals and businesses, and introduces reliefs for smaller enterprises.

Companies with an annual turnover below ₦50 million will be exempt from tax, while thresholds for personal income tax have been adjusted to protect low-income earners.

President Tinubu had signed four key bills into law on June 26, 2025: the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service Establishment Act, and Joint Revenue Board Establishment Act. Collectively known as the Tax Acts Quartet, they are designed to broaden the tax base, improve compliance, and enhance transparency across all tiers of government.

The Presidential Committee on Fiscal Policy and Tax Reforms, chaired by tax expert Taiwo Oyedele of PricewaterhouseCoopers, played a pivotal role in drafting and refining the reforms.

According to Adedeji, the reforms are already yielding results. Nigeria’s tax-to-GDP ratio has risen from 10 per cent to 13.5 per cent within two years, with a target of 18 per cent by 2027.

In August, the Federation Account Allocation Committee disbursed a record ₦2 trillion, nearly 70 per cent of which came from taxes collected by the FIRS. Improved revenue, he noted, enabled 30 states to repay ₦1.85 trillion in debts over the past 18 months. Debt servicing costs, which once consumed 90 per cent of government revenue, have dropped to about 50 per cent, while external reserves have also grown on the back of stronger fiscal stability.

Adedeji further announced that the FIRS would be rebranded as the Nigeria Revenue Service to reflect its broader role. “The word ‘federal’ gave the wrong impression that we only collect for the federal government. In reality, we collect VAT, of which 90 per cent belongs to the states,” he explained.

While acknowledging the hardship that followed subsidy removal and exchange rate unification, Adedeji insisted the reforms are necessary. He likened them to “the pain of a woman in labour,” adding that government interventions—such as compressed natural gas buses and crude-for-naira support for local refiners—are cushioning the impact, with fuel prices beginning to decline.

He emphasised that the consolidated tax law is also designed to curb evasion. Taxpayers are now classified into small, medium, and large groups, with one-stop shops created for filing and payments. “We are service providers to taxpayers rather than just an enforcement agency,” he said.

On the proposed petrol surcharge contained in the new law, Adedeji clarified that it would not take effect automatically. “It will only apply if activated by a ministerial order and published in the official gazette,” he assured.

Call for Compliance

Urging Nigerians to embrace the reforms, Adedeji said the measures will strengthen both businesses and the economy at large.

“When companies are doing well, expanding, and making profits, we will benefit from their growth. Our task is to remove hurdles in their way, and that is what the president has done with these new laws,” he concluded.

Nigeria @ 65: FG Cancels Independence Day Parade, Urges Reflection On Nation-Building

Nigeria @ 65: FG Cancels Independence Day Parade, Urges Reflection On Nation-Building

The Federal Government has announced the cancellation of the parade earlier scheduled to mark Nigeria’s 65th Independence Anniversary on Wednesday, October 1.

The decision was contained in a statement issued on Monday by the Office of the Secretary to the Government of the Federation (OSGF). The statement, signed by the Director of Information and Public Relations, Segun Imohiosen, stressed that the cancellation does not diminish the importance of the anniversary.

Other activities marking the anniversary, including the presidential broadcast, cultural events, and the grand finale of the National Campus Debate, will proceed as planned.

“The Federal Government deeply appreciates the understanding of Nigerians, the diplomatic community, and invited guests, and urges all citizens to continue to support the Renewed Hope Agenda of the present administration,” the statement read in part.

Addressing journalists at a world press conference in Abuja, the Secretary to the Government of the Federation, Senator George Akume, said the Independence Day remains an opportunity for sober reflection and renewed patriotism.

“Independence Day is a profound opportunity for us to reflect on how far we have come as a people, celebrate our resilience, and renew our commitment to unity, peace, and progress,” Akume stated.

This year’s celebration, themed “Nigeria at 65: All Hands on Deck for a Greater Nation,” underscores the collective responsibility of citizens in nation-building, he added.

The SGF praised President Bola Tinubu’s Renewed Hope Agenda as the administration’s guiding framework for transforming Nigeria. While acknowledging the economic challenges confronting citizens, he assured that the government’s ongoing reforms are designed to restore stability and foster sustainable growth.

“The reforms are bold and sometimes difficult, but they are necessary to restore investor confidence, strengthen our fiscal position, and lay the foundation for sustainable growth,” Akume said. He pointed to early signs of progress, including renewed foreign investments, targeted job creation, and expanded social welfare programmes for vulnerable groups.

Minister of Information and National Orientation, Mohammed Idris, also described the 65th Independence Anniversary as a monumental milestone for the country. He likened the number 65 to sapphire—a stone symbolising loyalty, truth, and wisdom—arguing that Nigeria’s resilience mirrors those qualities.

“Just as sapphire is precious and enduring, so too is Nigeria’s journey as a sovereign nation—resilient, wise, and faithful to its destiny,” Idris said.

He highlighted reforms being implemented by the Tinubu administration across taxation, infrastructure, energy, agriculture, education, and healthcare, while noting Nigeria’s continued leadership role in Africa through peacekeeping, regional stability, and global diplomacy.

“The theme of this 65th Anniversary, ‘All Hands on Deck,’ is a heartfelt call to all Nigerians and our partners around the world to support these landmark reforms and to work together for the Nigeria of our dreams,” the minister added.

Nigeria gained independence from Britain on October 1, 1960, and successive anniversaries have traditionally been marked with parades, religious services, and presidential addresses.

Naira Holds Firm As Investors Unwind Dollar Positions

Naira Holds Firm As Investors Unwind Dollar Positions

The naira maintained its upward momentum on Monday, strengthening by 0.29% to close at ₦1,476.35 per dollar at the official foreign exchange market.

The local currency’s rally was supported by subdued dollar demand alongside inflows from oil companies and exporters, boosting overall FX liquidity.

Market intelligence gathered by MarketForces Africa indicated that some investors holding short-term structured dollar assets have begun unwinding their positions to avoid portfolio erosion as the naira gains.

According to analysts, risk-averse investors who previously locked funds in dollar instruments are now selling down, anticipating sustained exchange rate stability and further improvements in FX supply.

“Most of the dollar funds meant for short-term plays have been wound down,” a source at a leading investment bank disclosed.

At the official window, the naira traded between ₦1,475 and ₦1,486.50 per dollar, with traders highlighting improved confidence on the back of stronger external reserves, which rose to $42.256 billion on Friday from $42.225 billion the day before.

In the parallel market, the naira also firmed, appreciating 0.83% to ₦1,499 per dollar, underscoring broad-based demand for the local currency across segments.

Olam Agri Celebrates 1,004 Graduates Of Crown Flour Angels Academy

Banks Lodge ₦5.4trn In Deposit Facility Window Amid Rising Rates

Deposit Money Banks (DMBs) are increasingly channeling excess liquidity into the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF), where returns currently outpace yields on one-year Treasury bills.

A mix of maturing inflows and reduced activity at recent primary market auctions has left the banking system awash with liquidity, prompting lenders to park funds with the apex bank to optimise earnings.

According to AIICO Capital Limited, placements at the CBN’s SDF window surged to ₦5.39 trillion last week, even as system liquidity opened at a robust ₦5.73 trillion, supported by additional inflows of about ₦1.71 trillion.

Despite the liquidity glut, interbank rates stayed relatively firm. The Open Repo Rate (OPR) closed at 24.50%, while the Overnight Lending Rate (OVN) edged up by 12 basis points to 25.00%. Analysts expect rates to ease in the near term, aided by the maturity of the Sept. 30 OMO bill, barring any unexpected funding pressures.

The dynamics come on the heels of the CBN’s recent monetary policy adjustment. At its penultimate meeting of the year, the regulator cut the Monetary Policy Rate (MPR) by 50 basis points to 27.0% and narrowed the asymmetric corridor to +250/-250 basis points. This sets borrowing from the CBN at 29.5% and deposits at 24.5%.

Analysts at CardinalStone Securities note that despite the corridor adjustment, banks will likely remain net depositors with the CBN, as the SDF offers a more attractive return compared to one-year Treasury bills.

Gingerrr Debuts With ₦82.8 Million At Nigerian Box Office

Olam Agri Celebrates 1,004 Graduates Of Crown Flour Angels Academy

L-R: Bola Adeniji, General Manager/ Head of Marketing, Olam Agri; Hon Shehu Wada Sagagi, Commissioner, Ministry for Commerce & Investment, Kano State; Dr Goni Farouk Umar, Chairman, Arewa Consultative Forum, Kano State Chapter; Aminu Halima, a graduate of Crown Flour Angels (CFA) baking academy; Nitin Mehta, Managing Director, Wheat-Milling Business Unit, Olam Agri, during certificate presentation to 355 fresh graduates of the CFA initiative in Kano, on Thursday, September 25, 2025.

Olam Agri has been commended for its sustained investment in women’s economic empowerment as its Crown Flour Angels (CFA) Baking Academy graduated 355 women, bringing total beneficiaries to 1,004 in just three years.

The academy, a flagship programme under Olam Agri’s Seeds for the Future (SFTF) initiative, trains women in baking and entrepreneurship through an intensive four-week course that includes professional certification from the National Business and Technical Examination Board (NABTEB). Graduates gain market-ready skills and the confidence to build sustainable businesses.

SFTF is Olam Agri’s signature value chain development platform in Nigeria, driving impact through focus areas: improving local wheat production, advancing education and skills for young people, empowering women, promoting health and nutrition nationwide and reducing carbon emission.

Commending Olam Agri’s extraordinary focus, Talatu Muazu, Kano State Coordinator for NABTEB, said, “Helping the women acquire top baking skills and enrol for professional certification under the same programme is a testament to the Crown Flour Angels initiative’s commitment to excellence. These efforts will have a lasting impact on these young lives, and I am confident that they will go on to achieve great things.”

The Commissioner, Ministry for Commerce & Investment, Kano State, Hon Shehu Wada Sagagi, who represented the state’s Deputy Governor at the event, captured the impact of the initiative more succinctly. He explained, “What makes me happier is that the graduates of the baking academy are women. Considering the plight of women in our society and the economic situation, our women need to be empowered to raise their incomes. I am delighted with what Olam Agri is doing for these women. As a government, we need to identify with this great initiative as it supports and balances the state’s various empowerment agendas.”

On behalf of the graduating women, Aisha Ahmad Abdullahi thanked the company for investing in her and her colleagues: “My colleagues and I have had an amazing time learning new things about baking. I didn’t believe I could bake the way I do now. The skills and insights I have acquired in the academy have raised my confidence in building a baking business. I am grateful to Olam Agri.”

Bola Adeniji, General Manager/ Head of Marketing, Olam Agri, highlighted the essence of the initiative. According to her, “We believe that real corporate success must go hand-in-hand with social impact. As part of our corporate social responsibility, we are deeply committed to empowering the communities where we operate – and among our most impactful initiatives is the Crown Flour Angels programme.”

Nitin Mehta, Vice President & Managing Director of the wheat-milling unit, Olam Agri, said, “The Crown Flour Angels programme was initiated to equip women with useful skills that will enable them to participate effectively in the economy, and provide support for households. By equipping women with baking and entrepreneurship skills, we are launching them into a growing market where their skills and experience are certain to yield rewards.”

Anil Nair, Country Head, Olam Agri, emphasised the contribution of the initiative to the federal government’s economic development agenda.  He explained, “Olam Agri was founded here in 1989.  As a business that originated from Nigeria, we reserve a special place for the country, as evidenced in our continuous investment in the improvement of the country’s food systems, the well-being of its citizens, and the attainment of the key federal and state economic growth agendas. The Crown Flour Angels initiative supports the government’s Renewed Hope Agenda, with a focus on women’s empowerment. Congratulations to the women who have benefited from this effort.”

Gingerrr Debuts With ₦82.8 Million At Nigerian Box Office

Gingerrr Debuts With ₦82.8 Million At Nigerian Box Office

The Nigerian box office has welcomed another major contender as Gingerrr, directed by Yemi Morafa, debuted with an impressive ₦82.8 million in its opening weekend after premiering on September 26. The action-comedy has quickly positioned itself among the strongest Nollywood releases of 2025.

Backed by executive producers Bolaji Ogunmola, Kiekie, and Bisola Aiyeola, Gingerrr grossed ₦78.9 million within its first three days before crossing the ₦82 million mark by the end of its first weekend. The ensemble cast features Blossom Chukwujeku, Faithia Williams, Lateef Adedimeji, Odunlade Adekola, Shaffy Bello, Mr. Macaroni, alongside Ogunmola, Kiekie, and Aiyeola.

The two-hour heist film follows four women bound by desperation who stage a daring robbery as their only shot at a better life. As the heist unravels, personal secrets and betrayals threaten their alliance, weaving action, comedy, and drama into a fast-paced spectacle that has resonated with audiences in Lagos, Abuja, and other key markets.

Industry watchers have drawn comparisons between Gingerrr and Sugar Rush (2019), the breakout hit from Jadesola Osiberu and Abimbola Craig, which opened to ₦57 million and redefined Nollywood’s blockbuster formula. Both films center on women in lead roles, balancing humor and high-stakes action while subverting Nollywood’s tendency to sideline female characters.

Like Sugar Rush, Gingerrr relies on ensemble female performances and the chaos of a heist gone wrong, blending glossy visuals, comedic beats, and morally complex characters who blur the line between hero and villain.

The film’s early success signals a growing appetite for female-led action-comedies in Nollywood. If the trend holds, polished thrillers with women at the forefront could join romantic comedies and dramas as some of the industry’s most bankable titles.

ChatGPT Unveils Instant Checkout Feature For Seamless Shopping And Payments

ChatGPT Unveils Instant Checkout Feature For Seamless Shopping And Payments

ChatGPT Demand On Google Hits A Record High As China Dominates Interest

OpenAI has introduced Instant Checkout in ChatGPT, a new feature that enables users to search, compare, and purchase products directly within the app. The feature is debuting in the United States with Etsy and Shopify merchants and is powered by the open-sourced Agentic Commerce Protocol, developed in partnership with Stripe.

“ChatGPT already helps millions of people find what to buy. Now it can help them buy it too,” OpenAI said in a post on X. “We’re introducing Instant Checkout in ChatGPT with Etsy and Shopify, and open-sourcing the Agentic Commerce Protocol that powers it, built with Stripe, so more merchants and developers can integrate agentic checkout.”

For now, Instant Checkout is available only to U.S.-based ChatGPT Free, Plus, and Pro users purchasing from Etsy sellers, with Shopify merchants set to follow soon.

The new feature functions like a personal shopping assistant. Users can type in what they are looking for, and ChatGPT returns curated options with images, prices, and direct links. Products are ranked solely by relevance to the user’s query, and Instant Checkout items are not given preferential placement.

Once a user selects an item, ChatGPT shows where it can be purchased, comparing listings by price, availability, quality, and seller credibility. Shoppers can then confirm their order, shipping details, and payment method directly within ChatGPT. Merchants remain the sellers of record, handling payment processing, delivery, and fulfillment.

Payments can be made via credit card, Apple Pay, Google Pay, or Stripe’s Link. For Plus and Pro subscribers, ChatGPT can pre-fill shipping and payment details to speed up checkout, while still allowing edits before confirmation. Order tracking, including confirmations, shipping updates, and delivery timelines, is available within the app.

OpenAI is inviting merchants to join through a dedicated portal at chatgpt.com/merchants. Etsy and Shopify merchants are automatically integrated and do not need to apply.

While the rollout is currently limited to U.S. users and merchants, OpenAI said it plans to expand to other regions in 2026.

Lagos Begins Teacher Recruitment As LASUBEB Opens Application Portal

Lagos Begins Teacher Recruitment As LASUBEB Opens Application Portal

LASG Renames Ministry Of Education, Other MDAs

The Lagos State Universal Basic Education Board (LASUBEB) has opened its recruitment portal for qualified candidates interested in teaching positions across the state. The exercise, approved by Governor Babajide Sanwo-Olu, is part of efforts to strengthen the delivery of quality education in Lagos.

“With the kind approval of Mr. Governor, the Lagos State Universal Basic Education Board (LASUBEB) hereby announces the opening of its official application portal for interested and qualified individuals who are willing and ready to contribute to the delivery of quality education in Lagos State,” the Board said in a statement.

Applications must be submitted strictly online via https://subebjobs.lagosstate.gov.ng, as physical submissions will not be accepted.

Eligibility


The recruitment is open to holders of the following qualifications:

  • Nigeria Certificate in Education (NCE)
  • B.A (Ed), B.Sc (Ed), B.Ed
  • HND + PGDE
  • B.A + PGDE, B.Sc + PGDE
  • M.Ed / M.Sc (Ed)

Applicants must also upload an O’Level certificate (WAEC, NECO, or NABTEB), degree or NCE certificate, and NYSC discharge or exemption certificate where applicable. Notifications or statements of results issued more than two years ago will not be accepted.

LASUBEB emphasised that the process is free of charge and warned applicants against fraudulent practices.

Available Position


The current vacancy is for Classroom Teachers. The application window closes on 13 October 2025, with the recruitment portal shutting down on 14 October 2025.

How to Apply

  1. Register or log in on the portal.
  2. Check available job openings.
  3. Fill all required forms.
  4. Select your subject of choice.
  5. Click “Apply.”
  6. Print the confirmation slip.

LASUBEB reiterated that its mandate is to ensure equitable access to quality basic education in Lagos State by coordinating, supervising, and monitoring teaching and learning across public primary and junior secondary schools.

Federal Government Cancels Independence Day Parade

Federal Government Cancels Independence Day Parade

Prosperity Index

The Federal Government has cancelled the parade earlier scheduled to mark Nigeria’s 65th Independence Anniversary on Wednesday, October 1. The announcement was contained in a statement on Monday by the Office of the Secretary to the Government of the Federation (OSGF).

“The Federal Government wishes to announce the cancellation of the Independence Anniversary parade, previously scheduled to mark the 65th Independence on Wednesday, 1st October. The cancellation is in no way a diminishment of the significance of this milestone anniversary,” the statement signed by Segun Imohiosen, Director of Information and Public Relations, read.

The government said while it regrets any inconvenience caused, other activities lined up for the anniversary—including the traditional presidential broadcast, cultural programmes, and the grand finale of the National Campus Debate—will hold as planned.

At a press conference in Abuja, the Secretary to the Government of the Federation, Senator George Akume, described Independence Day as “a profound opportunity for sober reflection and renewed patriotism,” stressing that the 65th milestone highlights both Nigeria’s resilience and collective responsibility for nation-building.

This year’s theme, “Nigeria at 65: All Hands on Deck for a Greater Nation,” he noted, underscores the importance of unity, peace, and shared commitment to progress.

Akume commended President Bola Tinubu’s Renewed Hope Agenda as the framework guiding reforms to stabilise the economy. He acknowledged the hardships facing citizens but maintained that “the reforms are bold and sometimes difficult, but they are necessary to restore investor confidence, strengthen our fiscal position, and lay the foundation for sustainable growth.”

Also speaking, Minister of Information and National Orientation Mohammed Idris described the anniversary as “a monumental commemoration,” likening the number 65 to sapphire—symbolising loyalty, truth, and wisdom. He highlighted reforms in taxation, education, infrastructure, energy, agriculture, and healthcare, adding that Nigeria continues to play a leading role in Africa and global affairs.

“The theme of this 65th Anniversary, ‘All Hands on Deck,’ is a heartfelt call to all Nigerians and our partners around the world to support these landmark reforms and to work together for the Nigeria of our dreams,” Idris said.

Nigeria, which gained independence from Britain on October 1, 1960, has traditionally marked the anniversary with military parades, cultural displays, and presidential addresses.

Trump Proposes 100% Tariff On Foreign Films

FAAN Introduces Contactless Payment System At Lagos, Abuja Airports

Airline Operators Accuse FAAN Of Flight Delays

The Federal Airports Authority of Nigeria (FAAN) on Monday launched contactless payment systems at the Murtala Muhammed International Airport (MMIA), Lagos, and the Nnamdi Azikiwe International Airport, Abuja, as part of a phased rollout that will cover all airports nationwide by the first quarter of 2026.

The initiative, branded “Operation Go Cashless,” is being implemented in partnership with Paystack and aims to gradually eliminate cash transactions at FAAN revenue points, including access gates, car parks, and VIP lounges. FAAN projects that the policy will boost revenue collection by 50% during the pilot phase, rising to 75% as more points are integrated, with a broader target of tripling revenue within a year of full implementation.

Speaking at the launch in Lagos, FAAN Managing Director/Chief Executive, Mrs. Olubunmi Kuku, described the cashless policy as a landmark reform that would modernise airport operations and align Nigeria’s aviation sector with global best practices.

“Effective immediately, we are introducing state-of-the-art cashless payment systems at our revenue points, beginning with pilot operations at MMIA and Abuja airports,” Kuku said. She added that nationwide implementation is scheduled for completion in early 2026, with expansion into areas such as car hire services and casual flight operations.

Kuku stressed that the initiative will improve transparency and accountability by ensuring all transactions are electronic, traceable, and secure. She also praised passengers for demanding modern, seamless services, and commended FAAN’s Commercial and Business Development Directorate, led by Ms. Adebola Agunbiade, for driving the project.

Agunbiade explained that Paystack has deployed contactless terminals at key locations, allowing NFC-enabled cards to process payments instantly. She noted that the system will speed up passenger flow while curbing revenue leakages by removing the handling of physical cash.

To support the transition, FAAN has deployed trained staff as “brand ambassadors” at gates and terminals to guide passengers and provide demonstrations. With more than 300,000 vehicles passing through MMIA and Abuja airport gates monthly, and thousands of passengers using VIP lounges annually, the authority expects the initiative to significantly enhance service quality.

Trump Proposes 100% Tariff On Foreign Films

Trump Proposes 100% Tariff On Foreign Films

President Donald Trump on Monday said he would impose a 100% tariff on all films produced overseas and imported into the United States, a move that analysts warn could disrupt Hollywood’s global business model, Reuters reported.

The plan extends Trump’s protectionist trade agenda into the cultural sector, sparking uncertainty for U.S. studios that depend heavily on international co-productions and global box office revenue.

“Our movie-making business has been stolen from the United States of America by other countries, just like stealing candy from a baby,” Trump wrote on Truth Social.

It remains unclear what legal authority Trump would use to enforce the measure. The White House did not respond to Reuters’ request for clarification, and major U.S. studios—including Warner Bros Discovery, Paramount, Skydance, and Netflix—declined comment. Comcast also refused to respond.

Analysts cautioned the tariffs could inflate production costs and hit consumers. “There is too much uncertainty, and this latest move raises more questions than answers,” Paolo Pescatore of PP Foresight said.

Trump first floated the idea in May, though without specifics. At the time, U.S. film unions and guilds urged the administration to instead expand domestic tax incentives to encourage local production.

According to the Motion Picture Association, the U.S. film industry posted a $15.3 billion trade surplus in 2023, backed by $22.6 billion in exports. Hollywood has long relied on overseas hubs such as Canada, the UK, and Australia, where tax incentives draw high-budget shoots, as well as co-productions with Asian and European partners that provide financing and market access.

Industry executives worry the tariff could also affect thousands of U.S. workers employed on international productions, from visual effects specialists to production crews, whose jobs often span multiple countries.

Interswitch Receives Enactus Nigeria Changemaker Collaboration Award For Youth Empowerment

Interswitch Receives Enactus Nigeria Changemaker Collaboration Award For Youth Empowerment

L-R Victor Akinfala, Head Partnerships and Special Projects, Enactus Nigeria; Chinelo Dike-Okonkwo, Brands, Communications & CSR, Interswitch; Michael Ajayi, Country Director, Enactus Nigeria; Yemisi Owonubi, Head, Masterbrand, Communications & CSR, Interswitch; Baribefe Aloega, Programs Officer (Special Projects), Enactus Nigeria; and Adaobi Ezirim, Brands, Communications & CSR Executive, Interswitch at the courtesy visit where the Enactus Changemaker Collaboration Award was conferred on Interswitch.

Interswitch, the leading African technology company focused on creating solutions that enable individuals and communities prosper, has received the Enactus Nigeria Changemaker Collaboration Award, a prestigious recognition of its commitment to driving innovation and advancing educational and entrepreneurial excellence among young people across Nigeria.

The award was presented during a courtesy visit to Interswitch’s headquarters in Lagos by a delegation from Enactus Nigeria, following the recent conclusion of the 2025 Enactus Nigeria National Competition and in commemoration of Enactus’ 25th anniversary milestone.

Enactus Nigeria is part of the global Enactus network which engages university students to develop entrepreneurial solutions to pressing social and economic challenges. Each year, its activities culminate in the Enactus World Cup, an international competition where student teams showcase transformative projects that blend innovation with social impact.

Interswitch has been a proud supporter of Enactus Nigeria over the years, backing initiatives that empower Africa’s next generation of leaders and changemakers. This recognition reinforces its role as a key partner in nurturing youth-driven innovation and its wider agenda of youth empowerment across the continent.

Beyond its partnership with Enactus Nigeria, Interswitch has consistently invested in programs that nurture creativity, innovation and excellence. Among these are the Interswitch Innovation Discovery Series, which inspires bold thinking and showcases new ideas, and InterswitchSPAK, the firm’s flagship CSR initiative and a National Science Competition that identifies, inspires and rewards Africa’s brightest young STEM talents. Together, these initiatives demonstrate Interswitch’s sustained commitment to shaping the future through youth empowerment.

Speaking on the recognition, Cherry Eromosele, Executive Vice President, Group Marketing and Communications, Interswitch Group, said:

“We are deeply honoured to receive the Enactus Nigeria Changemaker Collaboration Award. At Interswitch, we believe that Africa’s prosperity is tied to the ingenuity and resilience of its youth. This recognition reaffirms our commitment to creating platforms and opportunities that nurture talent, inspire innovation and drive sustainable impact in communities across Nigeria and beyond. We also congratulate Enactus on its 25th anniversary and celebrate the incredible impact it has made in empowering young changemakers across Nigeria and beyond.”

Representatives of Enactus Nigeria commended Interswitch’s unwavering commitment to education, entrepreneurship and innovation, noting that the company has consistently partnered with organisations and institutions that share a common vision of empowering young Africans. The award was presented in acknowledgment of Interswitch’s outstanding support for youth-focused initiatives and its role as a bridge between private sector innovation and social impact.

The Changemaker Collaboration Award further reinforces Interswitch’s leadership as a pioneer in digital payments and commerce while highlighting its role as a catalyst for collaboration and inclusion within Africa’s innovation and financial ecosystem. By continuing to invest in initiatives that connect education, technology and entrepreneurship, the company is helping to shape a future where young Africans are equipped to thrive in competitive global markets while addressing local challenges.

Lagos Unveils Two-Year Flood Management Plan To Integrate Lakes, Canals

Lagos Unveils Two-Year Flood Management Plan To Integrate Lakes, Canals

The Lagos State Government has rolled out a two-year flood management strategy that will integrate estate lakes, canals, and pumps into a unified network aimed at reducing the city’s perennial flooding challenges.

Commissioner for the Environment and Water Resources, Tokunbo Wahab, announced the initiative through his official X account, noting that the plan specifically targets communities most affected by tide-locked flooding.

At the core of the strategy is the creation of a Blue-Green Network that will link estate lakes, canals, and green corridors to temporarily store and gradually release rainwater. This, Wahab explained, would prevent the city’s drainage systems from being overwhelmed during intense rainfall.

Key medium-term measures include installing flap gates and pilot pumps at tide-sensitive outfalls, alongside stricter enforcement of canal rights-of-way. These will build on restoration projects already executed across the state.

“Next steps (6–24 months): build a Lekki Blue-Green Network linking estate lakes, canals, and green corridors to store and slowly release water; install flap gates and pilot pumps at the most tide-sensitive outfalls; and intensify enforcement of canal rights-of-way, building on channel restoration already achieved,” Wahab stated.

According to the commissioner, between 2023 and 2025, the government has undertaken maintenance on 579 kilometres of secondary collectors across 693 sites and 309 kilometres of primary channels. Rapid-response teams from the Emergency Flood Action Group (EFAG) have cleared 444 kilometres of drains, while 40.3 kilometres of encroached channels have been restored.

Additionally, 218 new channels covering about 1,500 kilometres have been awarded for construction. Pumps are being deployed where required, while daily flood forecasts and water-level monitoring are in place to provide early warnings.

In the short term, Wahab said efforts are being intensified to clear silt and waste from choke points. Debris screens are also being installed on culverts, and pilot detention systems are being developed within estates to temporarily store water during extreme downpours.

Looking further ahead, Lagos’ long-term plans — spanning the next two to eight years — include the construction of pumped drainage cells in the city’s lowest basins, completion of secondary-drain planning, protection of drainage easements, and restoration of key wetlands. Building regulations will also be updated to ensure new developments provide on-site retention and detention facilities.

Wahab underscored that Lagos’ flat, coastal geography makes it especially vulnerable to flash flooding. He stressed that the phased plan — combining immediate, medium- and long-term actions — is designed not only to safeguard residents but also to strengthen the city’s resilience to climate change.

Comptroller Oshoba Advocates Peaceful Coexistence, Security Synergy At Apapa Port

Comptroller Oshoba Advocates Peaceful Coexistence, Security Synergy At Apapa Port

…Visits Ojora of Ijora, Maritime Police Command

The Customs Area Controller (CAC) of Apapa Command, Comptroller Emmanuel Oshoba, has reaffirmed his commitment to deeper community engagement and stronger inter-agency collaboration as part of efforts to secure Nigeria’s busiest port, enhance revenue collection, and promote seamless trade facilitation.

On Friday, 26 September 2025, Comptroller Oshoba paid a courtesy visit to the palace of His Royal Majesty, Oba AbdulFatai Aremu, the Ojora of Ijora and Iganmu Kingdom. He emphasised the importance of mutual understanding between Customs and host communities.

“Peaceful coexistence with the people of the area is very key for us. We are here on behalf of the Federal Government and the Nigeria Customs Service to perform lawful duties in terms of revenue collection and compliance, and we seek the maximum support of people in your domain”, he said.

He noted that his administration would anchor its activities on the Comptroller-General of Customs’ three policy thrusts of consolidation, collaboration, and innovation, while also advancing the Customs Cares programme, which aims to deliver community-focused projects.

Similarly, on Thursday, 25 September 2025, the CAC visited the Maritime Police Command at the Force Headquarters Annexe in Lagos, where he met with Assistant Inspector-General of Police (AIG) Chinedu Oko.

Reiterating his resolve to work hand-in-hand with security agencies, the Area Controller stated, “My mandate is to consolidate on the strides of my predecessor, particularly in revenue generation, enforcement, and trade facilitation. No agency can operate as an island. That is why I am here to strengthen collaboration with the Maritime Police.”

He further disclosed plans to implement the Authorised Economic Operator (AEO) programme, which will accelerate cargo clearance for compliant traders and enhance investor confidence in line with the federal government’s economic agenda.

AIG Oko assured him of the Maritime Police’s cooperation, pledging joint enforcement, intelligence sharing, and operational synergy. “We must see ourselves as one family working for the Federal Government”, Oko remarked, commending Oshoba’s focus on intelligence-led operations and unity among uniformed services.

Resident Doctors Give FG 30-Day Ultimatum Over Unmet Demands

FG Sets Thesis Submission As Requirement For NYSC Mobilisation

NYSC Suspends Orientation Camp

The Federal Government has approved a new policy making the submission of students’ theses and final-year projects into the Nigeria Education Repository and Databank (NERD) a compulsory requirement for mobilisation into the National Youth Service Corps (NYSC).

Effective from October 6, no graduate—whether trained in Nigeria or abroad—will be mobilised for or exempted from NYSC without proof of compliance. The directive was contained in a circular issued by the Secretary to the Government of the Federation (SGF), Senator George Akume, who conveyed President Bola Tinubu’s approval.

According to the circular, the NYSC mobilisation criteria have been revised in line with the President’s regulation, requiring proof of NERD policy compliance for all prospective corps members, regardless of their institution of study.

The NERD guidelines stipulate that students must deposit their academic outputs, such as theses and project reports, into the national database. Section 6.1.23 of the policy notes that the measure serves as a quality assurance check and provides yearly independent proof of continuous academic enrolment and affiliation.

Explaining the intent of the reform, NERD spokesperson Haula Galadima said the digitisation programme aims to raise the quality of academic content and presentation nationwide.

“The database will capture every detail of academic work deposited. Each item shall feature the student’s full name, supervisor(s), Head of Department, and the sponsoring institution,” she explained.

She added that the reform is also designed to raise supervision standards. “If our eminent scholars know their names will appear next to students’ works on a globally available digital platform, very few would want to be associated with poorly produced projects.”

Earlier in March, while declaring the NERD policy effective, Minister of Education, Dr. Tunji Alausa, stressed that submission of academic outputs had become mandatory.

A copy of the approved policy also revealed that President Tinubu endorsed an academic output monetisation mechanism to allow students and lecturers to earn lifetime revenues from their deposits.

The SGF’s circular clarified that enforcement will apply to all graduates from Nigerian universities, polytechnics, colleges of education, and foreign institutions but will not affect serving corps members or those mobilised before the October 6 enforcement date.

According to the Federal Government, the reform is aimed at curbing certificate racketeering, securing Nigeria’s intellectual property, and strengthening the credibility of higher education qualifications.

NGX Group CEO Highlights Market Resilience Amid Tax Reform Dialogue

UPDATED: PENGASSAN Strike Forces Shutdown Of NNPC, NUPRC, NMDPRA Offices

BREAKING: PENGASSAN Suspends Strike

The nationwide strike declared by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Monday crippled operations at key oil and gas institutions, including the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The industrial action, which followed a weekend directive from the union’s National Executive Council, saw members across the country withdrawing their services and effectively grounding critical agencies that drive Nigeria’s petroleum sector.

At the NUPRC headquarters in Abuja, the main gate remained locked, leaving employees stranded outside. Security personnel confirmed that entry was barred in compliance with the strike order. A similar situation played out at the NMDPRA headquarters in the Central Business District, where activities were completely halted.

Union leaders said compliance had been total across NNPC, NUPRC, NMDPRA, and other affected agencies.

PENGASSAN explained that the strike was triggered by the alleged dismissal of about 800 Nigerian workers at the Dangote Petroleum Refinery. The union accused the refinery of replacing the sacked workers with foreigners and described the move as a violation of Nigeria’s labour laws and international conventions.

In a resolution signed by its General Secretary, Lumumba Okugbawa, the union directed an immediate halt to crude oil and gas supplies to the refinery. It further instructed International Oil Companies (IOCs) to scale down gas production and suspend supply to Dangote Refinery and petrochemicals.

The action has raised concerns of possible fuel scarcity and blackouts, as NNPC remains the country’s sole importer of petrol while NUPRC and NMDPRA oversee crude production, gas supply, and distribution. Oil marketers have already warned of disruptions in fuel supply that could worsen prices and availability.

The Federal Government has convened an emergency meeting with stakeholders to resolve the crisis. The outcome of the talks may determine whether operations resume swiftly or whether the nation faces a prolonged disruption in its energy sector.

Don Jazzy Reveals Artist Launch At Mavin Records Costs $100K–$300K

China Introduces K Visa To Attract Global Tech Talent

China Records Drop In Birth Rate

China has introduced a new visa category designed to attract foreign graduates in science, technology, engineering, and mathematics (STEM), in what analysts describe as a strategic move to strengthen its technology workforce.

The K visa, first announced in August, is set to take effect on Wednesday, October 1, 2025. It offers entry, residence, and the right to work in China without the need for employer sponsorship—a departure from the U.S. H-1B system, which requires employer backing and is capped by an annual lottery.

Observers say the timing could give Beijing an advantage as the U.S. considers steep new fees for H-1B visas under President Donald Trump’s administration. “The symbolism is powerful: while the U.S. raises barriers, China is lowering them,” said Iowa-based immigration attorney Matt Mauntel-Medici.

Michael Feller, chief strategist at Geopolitical Strategy, added that U.S. visa restrictions had “shot itself in the foot,” describing the timing of China’s move as “exquisite.”

According to official guidelines published by the State Council of the People’s Republic of China, the visa applies to graduates in STEM fields from recognised universities or research institutions worldwide, with a minimum of a bachelor’s degree. Young professionals engaged in relevant academic or research work are also eligible.

However, the rules leave questions unanswered, including family reunification, permanent residency pathways, and financial or employment support. China also rarely grants citizenship to foreigners, while Mandarin remains a barrier for many non-Chinese speakers.

Analysts note that geopolitical tensions—particularly between China and India—could affect the programme’s appeal, despite the country’s large pool of Indian STEM professionals who traditionally dominate U.S. H-1B allocations.

“It’s an appealing alternative for Indian STEM professionals seeking flexible, streamlined visa options,” said Bikash Kali Das, an Indian student at Sichuan University. “But language and political tensions could be hurdles.”

The K visa is part of broader efforts by Beijing to boost its global competitiveness, alongside measures such as opening more sectors to foreign investment and expanding visa waivers for travellers from Europe and East Asia.

While the new policy may not immediately turn China into a top immigrant destination, experts say even modest gains in foreign tech talent could enhance its position in cutting-edge industries.

Resident Doctors Give FG 30-Day Ultimatum Over Unmet Demands

Resident Doctors Give FG 30-Day Ultimatum Over Unmet Demands

The Nigerian Association of Resident Doctors (NARD) has issued a 30-day ultimatum to the Federal Government to address long-standing welfare and policy concerns affecting its members, warning of possible industrial action if the issues remain unresolved.

The ultimatum formed part of a communiqué released at the end of NARD’s 45th Annual General Meeting (AGM) and Scientific Conference, which was held in Katsina State from September 21 to 26. The document was signed by the association’s President, Dr. Mohammad Suleiman; Secretary-General, Dr. Shuaibu Ibrahim, and Publicity and Social Secretary, Dr. Abdulmajid Ibrahim.

Among the key demands are the immediate payment of accumulated promotion arrears, release of corrected professional allowance tables, and the reinstatement of five doctors recently dismissed from the Federal Teaching Hospital, Lokoja. The doctors also pressed for urgent action on the long-delayed review of the Consolidated Medical Salary Structure (CONMESS).

“The AGM demands that the Federal Government urgently pay all accumulated promotion arrears owed to our members across all federal institutions within 30 days,” the communiqué stated.

It further directed the Ministry of Health and Social Welfare, alongside the management of FTH Lokoja, to reinstate the five sacked doctors within the same timeframe.

The doctors also expressed concern over what they described as excessive and unsafe working hours. With effect from October 1, the association instructed members to desist from undertaking more than 24 consecutive hours of call duty.

“The AGM calls on the Federal Ministry of Health and Social Welfare to develop and implement clear, healthy call duty working hours for doctors in line with international best practices,” the statement added.

NARD further decried the rising tide of brain drain, the casualisation of medical personnel, poor hospital infrastructure, and the exclusion of house officers from the civil service scheme. To address worsening manpower shortages, it urged the government to adopt a one-for-one replacement policy in the health sector.

The association maintained that timely government intervention would not only improve doctors’ welfare but also safeguard the delivery of quality healthcare services nationwide.

Don Jazzy Reveals Artist Launch At Mavin Records Costs $100K–$300K

Don Jazzy Reveals Artist Launch At Mavin Records Costs $100K–$300K

Don Jazzy, renowned producer and founder of Mavin Records, has disclosed the heavy investment required to turn new talents into stars. Speaking on the Echo podcast, the 41-year-old music executive said launching a new artist under Mavin typically costs between $100,000 and $300,000 (₦150 million–₦500 million). He clarified that the figure covers only the initial phase of an artist’s first project.

“It’s never just one thing,” Don Jazzy explained. “You can have a great song, but if it’s not marketed properly, it won’t work. At the same time, you can spend a lot of money, but if people don’t connect with it, they don’t connect.”

He emphasized that success requires a combination of strong songs, robust marketing systems, and the artist’s personal drive. “If you want it more than the artist, it doesn’t really work,” he said, adding that great artists go beyond talent by studying why legends like Michael Jackson became icons.

Reflecting on his career, Don Jazzy noted that rising costs nearly pushed him out of the label business after the breakup of Mo’Hits Records in 2012. Encouragement from colleagues and artists convinced him to continue, leading to the creation of Mavin Records, now home to stars such as Rema and Ayra Starr.

Mavin has grown into a global powerhouse. In 2024, Universal Music Group (UMG) acquired a majority stake in the label, five years after it secured a multimillion-dollar investment from Kupanda Holdings.

Today, Mavin’s roster includes Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boyspyce, DJ Big N, Lifesize Teddy, and Rema. Their smash hit Calm Down featuring Selena Gomez peaked at No. 3 on the U.S. Billboard Hot 100 and became the first African artist-led track to surpass 1 billion streams on Spotify. Ayra Starr has also earned a Grammy nomination for Rush in the Best African Music Performance category.

Naira Strengthens As Foreign Reserves Hit $42.2 Billion And CBN Sustains FX Interventions

NGX Group CEO Highlights Market Resilience Amid Tax Reform Dialogue

The Nigerian Exchange Group (NGX Group) has reaffirmed its role as a key driver of market stability and development by hosting a high-level stakeholder dialogue on the implications of the Capital Gains Tax (CGT) provisions under the Tax Reform Act 2024, which comes into effect in January 2026.

The virtual engagement brought together issuers, investors, intermediaries, and regulators in a bid to deepen understanding of the new tax regime, provide clarity on its provisions, and ensure Nigeria’s capital market remains competitive.

Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, stressed the importance of building investor confidence amid fiscal reforms.

“Reforms of this scale raise important questions for issuers and investors alike. Our priority is to ensure the capital market remains attractive and forward-looking. By creating forums like this, we provide clarity, enable dialogue, and help the market adapt to fiscal changes in ways that support long-term growth,” Popoola said.

A central focus of the discussion was the introduction of a 30 per cent CGT on gains from the disposal of shares, in line with Nigeria’s corporate income tax. Stakeholders expressed concerns over maintaining competitiveness against other African markets. Issues around base cost determination — with calls for prospective calculation from the Act’s commencement — and the treatment of cross-listed securities were also raised as areas requiring clear guidance to prevent double taxation and compliance hurdles.

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, clarified that the reform is structured to shield retail investors. He explained that the N150 million annual exemption threshold would exclude 99.9 per cent of individual investors from CGT liability.

He added that while the standard rate stands at 30 per cent, a reduced 25 per cent rate will apply if proceeds from share disposals are reinvested in fixed income or other non-equity assets. Investments channelled back into Nigerian companies — listed or unlisted — would remain exempt, a measure he described as critical to driving growth, job creation, and long-term market sustainability.

Alhaji Umaru Kwairanga, Chairman of NGX Group, emphasised the Exchange’s role as a bridge between policymakers and the market.

“At NGX Group, we believe significant policy shifts must be clearly understood and calibrated to preserve market confidence. Our role is to facilitate this dialogue to ensure reforms translate into sustainable, long-term economic growth,” he said.

Participants lauded the forum as both timely and constructive, with NGX Group once again demonstrating leadership in fostering solutions-oriented dialogue. By steering this engagement, the Exchange has reinforced its position as a trusted partner in aligning fiscal reforms with Nigeria’s broader economic objectives.

FG Appeals To PENGASSAN To Halt Planned Strike Over Dangote Refinery Dispute
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