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Timing of agricultural imports during harvest season sparks suspicion from Sen. Pangilinan

Senator Francis ‘Kiko’ Pangilinan raised concerns over what appears to be a recurring pattern among government agencies of allowing imported rice and other agricultural products to enter the country during the local harvest season, threatening farmers’ livelihoods and undermining the country’s food security.

The senator, who heads the Senate Committee on Agriculture, Food, and Agrarian Reform, said the recurring timing of agricultural imports raises questions about whether government policies and importation decisions are being implemented in a way that protects local producers or exposes them to unfair competition just as they are ready to bring their produce to market.

”Ang maliwanag, hindi dapat pumapasok yan ng harvest season, so we will look at the details of this,’ he said when asked by broadcaster Ted Failon in a recent radio interview about how the Department of Agriculture (DA) has been violating its own rules in allowing imported agricultural products during harvest season.

‘Dahil talagang, pati sa onions nangyari ‘yan. Naghearing kami noong March-last March-sa onions. May patakaran na dapat hindi na maglalabas tuwing anihan, pero ginawa pa rin-pumasok pa rin ang ilang tonelada na sibuyas noong December, January. Labag doon sa patakaran. Well, so far, mukhang modus operandi,’ he said.

Pangilinan explained that the DA’s 60-day rule dictates that agricultural products must leave the port of origin within 60 days and that their release cannot coincide with the local harvest season to protect farmers from price drops.

‘Hindi dapat pinapasok ang imported na bigas sa panahon ng anihan. Kasi tuwing nangyayari ‘yan bumabagsak ang presyo ng palay. Binibili-binebenta ng palugi, binibili ng napakamura ng mga trader at sila ang tiba-tiba, diba? So, kuwestiyonable itong dalawang pagpasok dahil third week na ng September. Ibig sabihin yan, hanggat maprocess yan, eh lalabas na yan October,’ he pointed out.

The lawmaker said he will call for an investigation into the estimated P700 million worth of smuggled rice shipment seized in the ports of Davao and Limay, Bataan last month. ‘Gusto natin malaman ang puno’t dulo nito,’ he stressed, adding that the investigation will most likely begin by the first week of November.

MV Tay Son 2, which was carrying 12,500 metric tons of rice, attempted to leave the Port of Davao without completing the required Customs processing, prompting the Philippine Navy to intercept and apprehend the vessel on the high seas.

On the other hand, MV Lucky Star, which was apprehended at the Port of Limay because its import permit was not consistent with the actual contents of the shipment, was found with nearly 7,500 metric tons of rice.

The two vessels are believed to be carrying a combined 20,000 metric tons of Vietnamese rice, with an estimated value of around P700 million based on the prevailing world market price of $420 per metric ton.

But amid the reported P700-million worth of smuggled rice that attempted to enter the country through the ports of Davao and Limay, Pangilinan lamented that no big-time smugglers have been jailed despite Republic Act No. 12022, or the Anti-Agricultural Economic Sabotage Act, classifying agricultural economic sabotage involving at least P10 million worth of agricultural products as a non-bailable offense.

The senator said he has already coordinated with the Department of Justice (DOJ), the Department of Agriculture (DA), the National Bureau of Investigation (NBI), and the Anti-Agricultural Economic Sabotage (AAES) Council regarding the shipments at the ports of Davao and Limay.

Under Republic Act No. 12022, or the Anti-Agricultural Economic Sabotage Act, the government is mandated to strengthen measures against agricultural smuggling, hoarding, profiteering, and cartel. The law also empowers the Anti-Agricultural Economic Sabotage Council to coordinate investigations and direct the speedy investigation and prosecution of those responsible for these offenses, including any government officials found to have participated in the illegal activities.

He also announced that the committee report on the hearings he led earlier this year into the rampant smuggling of agricultural products, which allegedly involved high-ranking government officials, is expected to be released by the end of next month.

‘That’s why the report will be coming out before the end of the month. Pasensyahan na lang tayo. We call it as we see it,’ the senator said.

‘Kaya pag sinabi nating pasintabi nalang sa mga nasa gobyerno-pag sinabi nilang cartel hindi naman pwedeng mag exist yung cartel nang walang nakasabwat sa gobyerno,’ he added.

Mining company moves to pacify aggrieved community

Residents of Ihetutu community in Ishiagu, Ivo Local Government Area of Ebonyi State, are mourning the killing of two youths allegedly by a soldier attached to Palladium Mining Company, as the company reportedly moves to restore peace and rebuild relations with its host community.

The victims, Chibuike Elema, 18, and Obinna Gideon Akandu, 20, were allegedly shot dead on Sunday under circumstances that have sparked outrage and renewed calls for an impartial investigation.

The shooting reportedly occurred away from the mining site operated by Palladium Mining Company, also known as Ambertone Logistics Limited.

The victims’ families and community leaders alleged that the youths were returning from work when soldiers attached to the company stopped them and demanded money for security purposes. The soldiers allegedly opened fire after the youths said they had no money to give them.

The allegations have heightened tensions in the community, with residents demanding justice for the deceased and an end to what they described as intimidation and mistreatment by security operatives.

Narrating the circumstances surrounding his son’s death, Donatus Okoro, father of Chibuike Elema, said the 18-year-old had been called from home on Sunday morning to join other workers at the mining site.

He said eyewitnesses informed him that his son and other youths were returning from work when the soldiers allegedly stopped them and demanded money.

‘My son was called from the house this morning to come and join them for Sunday work. While coming back along the road, according to people who witnessed what happened, the soldiers attached to a mining company called Palladium asked them to settle them.

‘But they told the soldiers that they were not with anything. The soldiers raised their guns and shot them in the head,’ Okoro alleged.

The second victim, Obinna Gideon Akandu, was the son of a serving councillor representing Ihetutu community in Ivo LGA and a second-year student of Economics at Ebonyi State University, Abakaliki.

His father, Joshua Akandu, described the incident as painful, insisting that his son was innocent.

He said Obinna had returned to the community on Friday after his examinations were postponed and went to the farm on Sunday before he was allegedly shot while returning.

‘My son was innocent. He just went to the farm, and while coming back, they shot him on the road,’ Akandu said.

Michael Anyim, the Chairman of Ivo LGA, said the community had maintained a peaceful relationship with soldiers deployed to the area before the incident.

He, however, described the killing as unwarranted and unnecessary, appealing to aggrieved youths to avoid attacks, arson or destruction of the mining company’s property.

Anyim assured residents that the local government would collaborate with the Ebonyi State Government and the Nigerian Army to ensure justice for the victims and their families.

Meanwhile, BusinessDay gathered that Palladium Mining Company was taking steps to address the impact of the incident, reach out to the bereaved families and restore peace in the community.

The company was reportedly initiating a humanitarian process aimed at engaging the families of the deceased and the wider community to ease tensions and preserve its relationship with its host community.

The reported intervention comes amid growing concerns over the security of residents in mining communities and calls for greater accountability by security personnel deployed to protect mining operations.

The Ebonyi State Government has condemned the killings and ordered the sealing of the mining company pending the restoration of peace and the pursuit of justice for the deceased.

Governor Francis Nwifuru, who condemned the incident during a visit to the community, described the killings as tragic and regrettable, urging residents, particularly youths, to remain calm and law-abiding.

Represented by Chinedum Nkah, the Commissioner for Solid Minerals Development, the governor said that the soldier allegedly involved in the incident had been taken into custody, while investigations had commenced to establish the circumstances surrounding the shootings.

Contacted Ikenna Emmanuel Chielo, Lieutenant Colonel Commanding Officer of the Nkwagu Military Cantonment’s 24 Support Engineer Regiment in Abakaliki, confirmed that military personnel had visited the scene and that investigations were ongoing.

‘We were at the scene today. Investigation is ongoing. Let’s be patient to get the full details,’ he said.

Residents are demanding a transparent investigation and appropriate sanctions against anyone found responsible for the killings.

For the bereaved families, the immediate concern remains justice for their loved ones, while the community hopes that the company’s reported peace-building efforts and the ongoing investigation will help restore confidence and prevent further violence.

DOLE wants to use LinkedIn jobs data

The Department of Labor and Employment (DOLE) is planning to work with LinkedIn to identify emerging jobs and in-demand skills, as the government seeks to better match Filipino workers with employment opportunities.

Labor Secretary Francis N. Tolentino and LinkedIn officials discussed how workforce analytics could help the government anticipate employers’ needs and make employment services more responsive.

The proposed areas of cooperation include improving PhilJobNet and e-Trabaho, the government’s employment platforms, and expanding training in digital and artificial intelligence (AI) skills.

Tolentino said the collaboration could open up opportunities for Filipino workers, particularly young people, although it would not immediately generate jobs.

‘It’s not an instant job generation success, but the hope is there,’ he said.

He expressed particular interest in LinkedIn’s Economic Graph, which provides insights into hiring trends, talent movement and skills demand across regions.

The data could complement the Philippine Statistics Authority’s Labor Force Survey and the Public Employment Service Office (PESO) Employment Information System in identifying emerging occupations and anticipating workforce requirements.

DOLE and LinkedIn also discussed using these insights to align skills development programs with industry needs and improve the matching of jobseekers with available positions.

Another possible area of cooperation is digital skills training for DOLE personnel to help them adapt to technological changes affecting employment.

Both sides will discuss potential technical arrangements, including the use of aggregated labor market data, subject to government policies and data privacy requirements.

LinkedIn’s Philippine Head of Public Sector Justin Koh led the company’s delegation during the meeting, which also covered ways to strengthen employer engagement in workforce development.

PickMe’s growing network drives operating leverage and value for earners and shareholders

Digital Mobility Solutions Lanka PLC, owner and operator of the PickMe platform, yesterday said it posted revenue of Rs. 2.9 billion in the second quarter of FY26/27, up 37% year-on-year, alongside a 37% increase in total platform movements.

The platform facilitated Rs. 28.5 billion in Gross Transaction Value (GTV), with Rs. 24.7 billion flowing directly to independent drivers and merchants. Higher transaction volumes and stronger operating leverage lifted net profit by 53% year-on-year to Rs. 784 million. This performance supported the Board’s approval of an interim dividend of Rs. 2.75 per share, representing a 65% payout ratio.

In a statement, the Company said the results reflect the operating leverage created by increasing network density. Connecting more consumers, drivers and merchants enables PickMe to improve platform efficiency, deliver greater value for its users and enhance overall earnings by spreading technology and operating costs across a larger volume of activity.

PickMe Founder and CEO Jiffry Zulfer said the performance demonstrated the economic potential of digitalisation in the shared economy. ‘Our business earns a small share of a growing volume of transactions, while the greater share of that value remains with the independent drivers and merchants providing the services. As more consumers, earners and businesses join the platform, greater network density creates more earning opportunities while allowing PickMe to invest in technology that continuously improves user experience and generates strong returns for shareholders. That is the strength of the model; the platform succeeds as the people and businesses using it grow.’

PickMe Chairman Ajit Gunewardene said the dividend balanced shareholder returns with the Company’s continuing investment requirements. ‘The interim dividend reflects the Board’s confidence in PickMe’s performance, financial position and long-term prospects. Our approach is to provide meaningful returns to shareholders while retaining the capacity to invest in technology, strengthen the platform and pursue future growth opportunities. As a locally developed technology business, PickMe also brings more consumers, independent earners and businesses into the digital economy as it grows, helping bridge the digital divide.’

Average monthly unique consumers reached 2.1 million during the quarter, increasing 38% year-on-year. Average monthly unique driver earners were up 58% year-on-year. Total platform movements also increased 18% quarter-on-quarter, with growth recorded across all product verticals.

The CEO said restoring supply reliability following the first-quarter fuel disruption had been an operational priority. ‘Our immediate focus was to improve driver availability and maintain a reliable service as demand recovered. The growth in consumer activity, earner participation and platform movements shows that these measures are delivering results. We will continue to focus on service quality, supply reliability and disciplined execution as the platform expands.’

For the first half of FY26/27, revenue rose 38% year-on-year to Rs. 5.4 billion from Rs. 3.9 billion in the corresponding period of the previous financial year. Average monthly unique consumers and driver earners both reached all-time highs during the period, while total platform movements increased 39% year-on-year. First-half GTV rose 43% year-on-year to Rs. 53.8 billion from Rs. 37.6 billion, generating Rs. 46.7 billion in earnings for independent drivers and merchants.

Higher transaction volumes, operating leverage and continued cost discipline lifted first-half operating profit by 44% to Rs. 1.9 billion from Rs. 1.3 billion a year earlier. Net profit increased 49% to Rs. 1.4 billion from Rs. 950 million, while earnings per share rose to Rs. 4.24 from Rs. 2.85.

Netanyahu leads Israel election race but falls short of parliamentary majority

Israeli Prime Minister Benjamin Netanyahu’s right-wing bloc is leading the opposition as vote counting continues in the country’s parliamentary elections, with neither side securing a majority after approximately 42% of ballots have been counted.

According to local media outlets, as of 5:58 a.m. local time, with 41.9% of ballots counted, Netanyahu’s bloc was projected to win 57 seats, while the opposition bloc was set to secure 47. The United List and the Ra’am faction were reported to have won a combined 16 seats.

Based on the current figures, Netanyahu’s Likud party was leading with 28 seats, while the opposition’s Yashar party had secured 21.

Meanwhile, the Haaretz newspaper reported that Netanyahu held a narrow lead over opposition leader Gadi Eisenkot, a former chief of staff of the Israel Defense Forces (IDF) who currently heads the Yashar party.

It is worth noting that Israel’s parliament, the Knesset, has 120 seats. A party or political bloc needs at least 61 seats to secure a majority. As Western media have noted, coalition negotiations will be a crucial stage in determining the country’s next government, regardless of the final election results.

Voter turnout was also notably high, reaching 77.7%-one of the highest levels in Israeli electoral history. Turnout in the previous parliamentary elections, held in 2022, stood at 70.6%.

NELFUND deploys token system to curb duplicate tuition fees payment

The Nigerian Education Loan Fund (NELFUND) has commenced a pilot of a tokenised payment system designed to prevent students from paying their school fees twice and eliminate refund complications arising from delays in confirming loan disbursements to institutions.

NELFUND’s Managing Director, Akintunde Sawyerr, disclosed this on Wednesday during a press briefing, explaining that the system would allow students to authorise payments directly to their institutions through tokens linked to their approved fees.

He said the initiative followed cases in which students, unaware that NELFUND had already paid their fees, made duplicate payments to their institutions to meet registration deadlines.

Under the existing arrangement, institutional charges are paid directly to participating institutions, while approved upkeep allowances are transferred to students’ bank accounts.

According to Sawyerr, the situation often arose when institutions received payments from the fund before notifying the affected students, leaving some beneficiaries to pay independently.

He illustrated the problem with an example in which NELFUND paid an institution on Monday, but a student, unaware of the transaction, paid the same fees by Wednesday and only learnt of the fund’s earlier payment on Friday.

‘It was a genuine error, no suspicion, no accusation, just genuine error,’ he said.

He explained that the new arrangement would enable students to initiate payments from their approved loan funds through their phones, with the money transferred directly to the designated institutions.

‘We want to eliminate that need for refunds. So we’re placing the power of payment in the hands of the students,’ Sawyerr said.

He stressed that the system would not involve transferring loan funds into students’ personal bank accounts but would give them control over authorising payments to their institutions.

‘We’re not giving the students money, but we’re giving them power,’ he said.

The managing director added that the tokenised arrangement would restrict the use of approved tuition funds to the institution for which payment had been authorised, preventing beneficiaries from transferring the money to personal accounts or redirecting it to other schools.

He explained that a student with an approved tuition payment of ?200,000, for instance, could authorise the transfer only to the designated institution.

‘If they don’t push the button, the money doesn’t go anywhere. It will never be able to be transferred to the personal account of the student or anybody else,’ he said.

NELFUND’s Executive Director, Mustapha Iyal, corroborated the explanation, saying the token would be linked to a specific institution rather than a student’s personal or mobile money wallet.

‘It’s not a personal wallet, it’s not a mobile money wallet at all,’ Iyal said.

He disclosed that the pilot phase had commenced, with close to 400,000 applications recorded at the time of the briefing.

However, Iyal did not specify how many applications had been processed through the pilot system.

He explained that the fund used students’ application identification numbers and wallet numbers for institutional payment processes rather than their bank account numbers.

‘To be clear, we don’t use account numbers. We use their application ID and wallet number,’ he said.

According to him, institutional fees are handled separately from upkeep allowances, which are transferred to beneficiaries’ personal bank accounts through payment channels, including NIBSS Instant Payments and Paystack.

He said the use of external payment channels for upkeep allowances could sometimes result in delays, depending on the financial institutions involved.

Iyal added that the system processed transactions for almost 5,000 students daily, while approximately 20,000 additional students had been recorded between the previous week and the week of the briefing.

He also clarified that students could already download receipts from the NELFUND platform after their institutional fees had been processed.

However, he noted that institutions maintained separate systems for issuing their own receipts and clearance documents required for departmental registration and other academic processes.

The development comes as NELFUND moves to strengthen transparency and improve understanding of the student loan scheme among beneficiaries, parents and tertiary institutions.

Sawyerr said the fund had also identified cases of students allegedly benefiting from the loan scheme while continuing to rely on their parents to pay their tuition fees.

‘This comment is based on our recognition that there are so many students out there who are double-dipping. They are taking from NELFUND and still stressing their parents,’ he said.

He said the fund would introduce an arrangement through which parents could confirm whether their children’s school fees had been paid without necessarily being given details of the amounts involved.

To address misconceptions and ensure a smoother transition to the revised payment processes, Sawyerr announced plans to organise re-education workshops across the six geopolitical zones.

He said the exercise would go beyond the fund’s usual sensitisation campaigns by explaining the changes to students, parents and participating institutions.

‘We can easily do a press release and say, ‘Hey, this is what we’re doing.’ But if we don’t educate the institutions, if we don’t educate the students, everybody will still be running behind,’ he said.

‘This is not sensitisation. This is re-education of the stakeholders and the students as to the changes that we have made in their favour,’ he added.

The managing director said the workshops would help stakeholders understand the revised procedures, adding that journalists might be invited to some of the engagements to observe the exercise.

He also urged the media to help disseminate information about the changes, noting that the regional workshops might not reach every student who needed the information.

No one hurt in 2 firecracker factory explosions in Bulacan

Explosions rocked two firecracker factories in Bocaue and Baliwag City, Bulacan, on Tuesday, but no one was hurt.

Three workers managed to flee to safety when a shanty that has been serving as a firecracker factory exploded at past 10 a.m. in Sitio Caculisan, Barangay Bambang in Bocaue, according to a report from Maj. Jaynalyn Udal, Bulacan Provincial Police Office Information Officer.

Police recovered the workers’ identification cards near a firework stockroom with a ‘Seg-Sabel Fireworks’ sign. The ensuing fire did not hit the stockroom.

No worker was hurt in an earlier firecracker factory explosion in Purok 3, Barangay Barangca, Baliwag, at 3:50 p.m. on Saturday, Oct. 24, Udal said.

All of the workers managed to rush out of the burning facility.

The fire was declared under control at 4:21 p.m. and was put out at 4:34 pm.

The information officer said they are still investigating whether the owners of the two factories are licensed manufacturers.

HON. ANGELO MARCOS BARBA | Legislative leadership, community development, and dedication to public service

Media People’s Choice | Top-performing, most trusted district representative in the Philippines

HON. ANGELO MARCOS BARBA, Representative of the Second District of Ilocos Norte, is being recognized by Media People’s Choice with the distinction of Top Performing, Most Trusted District Representative in the Philippines, highlighting the importance of legislative responsibility, community representation, and dedication to public service.

As a member of the House of Representatives, Congressman Barba is responsible for national legislation, policy deliberation, and representing the interests and concerns of his constituents in Ilocos Norte.

The Second District of Ilocos Norte is home to communities whose livelihoods depend on agriculture, commerce, tourism, local enterprises, and other economic activities.

These sectors contribute to the province’s cultural identity and economic development while presenting important considerations for legislative representation.

Effective representation in Congress requires an understanding of both national priorities and the particular needs of local communities.

Issues involving infrastructure, agricultural development, healthcare accessibility, education, livelihood opportunities, and environmental sustainability remain significant areas of public policy.

Through the legislative process, district representatives participate in evaluating proposed laws, discussing government programs, and considering measures that may affect the welfare of Filipino communities.

Congress also performs oversight functions that are important in promoting accountability and examining the implementation of national policies and programs.

For Ilocos Norte, regional connectivity and economic opportunities are important considerations in long-term development.

Transportation infrastructure, public facilities, agricultural support, and opportunities for local enterprises contribute to the broader economic environment of the province.

Tourism and cultural heritage likewise remain important aspects of Ilocos Norte’s identity, providing opportunities to promote local traditions, historical destinations, and community-based economic activities.

The relationship between national legislation and local development underscores the importance of coordination among congressional representatives, local government units, national agencies, and community stakeholders.

Such cooperation can support discussions concerning development priorities and the needs of different sectors.

The responsibilities of a district representative also include listening to constituents, participating in legislative deliberations, and maintaining communication with institutions involved in public administration.

Transparency, accountability, and adherence to established legislative procedures remain essential principles in the exercise of these responsibilities.

Media People’s Choice recognizes the importance of responsible legislative representation, institutional cooperation, and public accountability.

The Top Performing, Most Trusted District Representative in the Philippines distinction is presented as part of the recognition program’s emphasis on leadership, public responsibility, and community representation.

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In recognizing Congressman Barba, Media People’s Choice highlights the responsibilities associated with his congressional position and the importance of representing the interests of communities within the Second District of Ilocos Norte.

As the province continues to pursue opportunities for economic growth and sustainable development, cooperation between national and local institutions remains important in addressing community needs.

Media People’s Choice Management, together with Sigaw ng Bayan and EuroTV News, extends its congratulations and recognition to HON. ANGELO MARCOS BARBA, Representative of the Second District of Ilocos Norte, as a recipient of the Top Performing, Most Trusted District Representative in the Philippines distinction.

This recognition emphasizes the importance of legislative leadership, community representation, accountability, and responsible public service.

Tinubu Addressing Longstanding Challenges, Barau replies Osinbajo

The Deputy President of the Senate, Senator Barau I. Jibrin, says President Bola Ahmed Tinubu is taking steps to address longstanding challenges confronting the country.

Barau said that while Osinbajo’s concerns, particularly those drawn from Afrobarometer surveys on Nigeria and other African countries, were valid, the government needs to improve communication with the people to highlight ongoing efforts to address the challenges.

The Deputy President of the Senate made the remarks on Tuesday in Yola, Adamawa State, during a public lecture titled ‘Democracy and Development: Rethinking the Leadership Question,’ organised to commemorate the 59th birthday of Adamawa State Governor, Ahmadu Umaru Fintiri.

Osinbajo, who served as Vice-President under former President Muhammadu Buhari from 2015 to 2023, expressed concern in his lecture about the failure of democratic governance among citizens across Africa after almost three decades of uninterrupted democratic rule in several countries.

Citing Afrobarometer surveys, the former Vice-President highlighted widespread dissatisfaction with democratic institutions, economic hardship, declining public confidence in government and diminishing youth participation in electoral politics.

He noted that although 64 per cent of Africans preferred democracy to other forms of government, only 38 per cent were satisfied with the way democracy was working in their respective countries.

Osinbajo also cited findings indicating that 59 per cent of Africans considered their national economies to be in bad shape, while 51 per cent said their economies had deteriorated.

He further expressed concern over the rising cost of living, unemployment, inadequate access to healthcare and declining voter turnout, warning that persistent hardship could weaken public confidence in democracy, particularly among young people.

Responding to the presentation, Barau described Osinbajo’s lecture as thought-provoking and intellectually stimulating, but said the gloomy picture painted by the surveys was being addressed and that the gaps were partly attributable to inadequate communication between governments and citizens.

‘I know he is a very good orator, a good public speaker and an intellectual to the core,’ Barau said, adding that he had initially decided not to prepare a speech to avoid turning the birthday celebration into an occasion for speeches.

‘Having said that, I am compelled to make some comments on the paper. It is a very beautiful and thought-provoking paper.

‘What I want to say is this: one important reason for the gloomy picture portrayed by the surveys, particularly those conducted by Afrobarometer, is what the professor talked about and specifically observed: the issue of communication between the leaders and the led. There is no proper communication.’

The Deputy President of the Senate maintained that governments at both the federal and state levels were taking steps to address the challenges identified by the former Vice-President, particularly in the areas of education, infrastructure and economic development.

On education, Barau said the government was expanding access to education to address the challenges posed by Nigeria’s growing population and its large youth demographic.

He noted that providing educational opportunities for children, particularly those from disadvantaged backgrounds, remained critical to addressing the country’s long-term development challenges.

‘Before now, it was very difficult for a child who did not have the means to go to school. Now, everyone, except a child who does not want to go to school, can go to school in Nigeria with the NELFUND introduced by this administration,’ he said.

Barau also stressed the importance of infrastructure development in driving economic prosperity, noting that roads, water supply and other essential facilities were necessary to improve living standards and stimulate economic activities.

He cited ongoing road projects across the country, including the Lagos-Calabar Coastal Highway, the Badagry-Sokoto Highway and several projects in the North-East and North-West, as evidence of the government’s efforts to address infrastructure deficits.

‘When we talk about economic prosperity, you cannot achieve it without a certain level of infrastructure, including road networks, water supply and other essential infrastructure.

‘This is what is happening currently in this country under President Bola Ahmed Tinubu’s administration. Roads are being constructed everywhere to propel the process of bringing economic prosperity. That is being done. It is a long journey, but it is being done. Yet, there is no proper communication,’ he said.

CBN sets January 2027 deadline for payment data localisation

The Central Bank of Nigeria (CBN) has directed financial institutions and participating payment service providers to store and manage relevant payment data and associated assets in Nigeria, with compliance due by January 1, 2027.

The Director of the CBN’s Payments System Supervision Department, Mrs Rakiya Yusuf, said the policy aimed to protect sensitive financial information, strengthen regulatory oversight, and improve the resilience of Nigeria’s financial system.

Yusuf spoke at the seventh edition of the CIO and C-Suite Conference and Awards Africa 2026, held at the Balmoral Convention Centre, Victoria Island, Lagos, on Tuesday.

She said data localisation had become increasingly important as digital payments, e-commerce, cloud computing and artificial intelligence continued to reshape economic activity.

‘Across the world, data has become a strategic asset and a critical enabler of economic activity,’ she said.

Yusuf described data localisation as a matter of trust, national sovereignty and resilience, stressing the need to protect payment information and maintain effective control over critical financial data.

‘Data localisation is ultimately about trust. It is about sovereignty and resilience. Trust that Nigeria’s payment data is protected. Sovereignty over a strategic national asset,’ she said.

However, she acknowledged that implementing the policy could be challenging because of unreliable electricity supply, inadequate data centre infrastructure, connectivity gaps, cybersecurity requirements and rising operational costs.

She warned that poorly designed localisation policies could also restrict innovation and weaken competitiveness, urging regulators to adopt a balanced framework that protects national interests without unnecessarily limiting technological advancement.

Also speaking at the conference, NGX Group Chief Strategy Officer Mrs Jumoke Olaniyan said effective data management and reliable digital infrastructure could boost investor confidence and make African businesses more attractive to capital providers.

Delivering the keynote address on behalf of NGX Group Chief Executive Officer Mr Temi Popoola, Olaniyan said weak information governance and unreliable systems could increase perceived business risks, prolong investor due diligence, and raise the cost of capital.

She described trust as an economic asset, noting that capital markets depend on reliable information, effective disclosures, and systems that support transactions without disruption.

According to her, companies should treat technology decisions as business strategy rather than merely operational expenditure because they affect their ability to attract funding, expand operations, and compete globally.

Citing the NGX Invest platform, she said it has facilitated more than ?3 trillion across more than 23 transactions since its launch in 2024. She added that its application programming interface connections covered more than 100 digital distribution channels, including banks, stockbrokers and fintech companies.

Olaniyan said data localisation and data sovereignty were related but distinct, explaining that sovereignty went beyond where information was stored to include the ability to govern data, enforce protections and manage technological dependencies.

She urged technology leaders to support secure, interoperable systems that facilitate cross-border business while complying with regulatory requirements.

The conference also attracted about 160 nominations from 14 African countries for its awards, according to Deloitte Partner, Mr Olawal Noiki.

Noiki said nominees were assessed through multiple stages, including reviews of business cases, evidence of impact and the value delivered to their organisations and the wider economy.

He said technical experts and two panels of jurors reviewed submissions before selecting finalists and winners.

The Convener of CIO and C-Suite Projects Africa, Ms Abiola Laseinde, said the initiative, which began in 2020, has evolved into a continental platform for recognising technology leaders who contribute to business growth and Africa’s digital development.

She said representatives of 13 African countries attended the event, which brought together technology executives, policymakers and business leaders to discuss digital transformation under the theme, Leading the Next Africa.