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The ongoing accusation gaining traction in the north, that Tinubu is short-changing the region in terms of project allocation, as well as political appointments, is driven heavily by partisan politics, says Abdulaziz Abdulaziz, Presidential aide on Print Media.

According to him, the Tinubu administration has been very considerate with the region, as several high-profile projects are in various stages of completion in most of the Northern states; this is something the people in the region should be grateful for.

Abdulaziz stated this recently in Kano, while interacting with members of the Kano `Correspondents` Chapel, noting that President Tinubu has also been magnanimous enough to continue with several projects started by the Buhari administration.

‘Of late, we have been hearing some people saying What is the president doing in the north? Beyond new projects, which there are many of them to count, when President Tinubu came, there were so many projects in the northern part of Nigeria. A lot of them were at a very early stage of commencement. I tell people, if this man is wicked or doesn’t like the north, he could leave these projects to be abandoned.

‘He can also withhold financing. If there is no financing, these projects will stagnate, and they will die naturally. But none of these projects that he inherited, which are massive, have actually stopped. And these projects are in billions of dollars.

‘If you look at the very important energy projects for northern Nigeria. The Ajaokuta-Kaduna-Kano gas pipeline, the AKK, was something that when we came, was not up to 50%. It has been continued. We are nearing completion.

‘This is somebody who is faithful. As I said, if he had wished, he could have sabotaged the funding for it or redirected the money to something else. If you look at the Kolmani oil prospecting, it’s ongoing. It’s something that was at an infancy level when this government came, but it’s continued.

‘If you look at the Abuja-Kaduna-Kano Road, it is a very important road. If not because of the altercation with Julius Bega that led to cancellation, revocation of the contract and the re-award, otherwise, it would have been completed by now.

‘But now, I drive from Abuja to Kaduna to Kano. At different points, you see the projects going on. The portion that remains between Zaria and Kano is almost completed. They are laying asphalt. If you come from Suleja, from the Suleja axis, you see work is ongoing on reinforced concrete. That is iron and concrete. That is very durable work that has been done. This project, the government devoted over N400 billion to complete it.

‘If you come to the Kaduna-Kano rail line, it was a stage when this government came in. But this government has continued. So many other projects like that. The Kano-Katsina-Maradi rail line is ongoing at a very speedy pace.

‘In fact, they are working literally 24 hours. Because I pass by the places on weekends and I see them working. If you go just outside Kano, around Janguza, once you cross the bridge from BUK, you will see them working up to now, as we speak. And so are so many other places and other projects like that.

‘I say the greatness of a government, for me, is in the way it continues with the project it inherited. The norm, usually in Nigeria, is that every government tries to do something new. So that it will be praised for doing this. Yet billions and billions of Naira get wasted in abandoned projects. But this president has strong faith in Northern Nigeria. And he is a nationalist. And that is why he has devoted a lot of attention and resources to ensure that projects in Northern Nigeria are not halted because a southerner is now the president.

‘No, he sees them as Nigerian projects. And coming to the new roads and other infrastructure, everywhere there are roads dotting Northern Nigeria and other infrastructure that the president is doing. If you look at it, people complain about the coastal highway.

‘But look at the Sokoto-Badagry Road. It’s a bit longer than the coastal highway. Only the coastal highway, because of the terrain, may be more expensive. But this one is a virgin road that is connecting communities, connecting businesses, connecting social interactions between the farthest place in the north to the creeks down south.

‘And along the road, there are economic activities that are being carried out along with the road, including dams, farming clusters, and all that. And this is why it is a very noble project. Over 60% of it is in Northern Nigeria.

‘And the work is ongoing on that. And work is ongoing from different sides, so that no part is left behind. In fact, on the northern plank, I think right now there are about three lots that are concurrently taking place. From Sokoto, it has started. From Kepi, it has started. So, this shows that the government is serious about. It’s not something that is just a name. It’s something that the government is doing to bring prosperity among our people and to also ease the movement of goods and services. That is a very important corridor for livestock and also goods from the south.

‘And on the other side, you know, there is the other road from Lagos to Abuja that is also being done, which is also connected. And then the Port-Harcourt -Maiduguri Rail line, the government has gotten funding for it, and work is starting. And that is also one very massive project that is to the advantage of Northern Nigeria.

‘So, talks about lopsided projects and all that, as I said earlier, are largely political. And the people saying those are not genuine. They say that those who advance their own political causes do so not because they mean what they say. Because any objective analyst, as I just pointed out, any objective analyst will see the economic benefits of this.

‘Sometimes people are myopic about issues like this. A country is not built in a fragmented arrangement. You can’t develop an economy in fragments. It has to be holistic. And some things are done not because maybe the president is from Kano or the president is from Ibadan, but because Kano or Ibadan is important and therefore needs to be developed along that line. For example, there were talks about when the Federal Executive Council approved the upgrade of Abuja and Lagos airports.

‘People were saying all manner of things. But any objective person would know, especially any modern educated person, that anywhere in the world, there are hubs. And you can’t say that you develop your airport or ports at the same rate because they don’t have equal importance. You can say because you say you like equity or you approve equity. And you say you will go and spend N300 billion to develop an airport based on equity. When nobody goes there, when there is no economic activity there.

‘But Lagos is a hub for Nigeria. Not even for Nigeria, you can say, even for West Africa. But modestly, we can say that for Nigeria, it is an airport that carries more than 70% of our passenger traffic. More than 70% of our passenger traffic is in Lagos. So why don’t you develop it? If you go to the UK, they have Heathrow in London. And Heathrow is not the same as maybe the airport in Sheffield or the one in Liverpool. It can be. If you go to Dubai, United Arab Emirates, people sometimes, especially people who are not really educated, don’t even know that Dubai is a city in a country called the United Arab Emirates.

‘But because the authorities understand the importance of having a hub and developing it, and that hub will end up servicing the country. So, Dubai is developed deliberately so that it keeps attracting money for the rest of the country. There are other cities. Even the capital, Abu Dhabi, is not a hub compared to Dubai.

So, in Niger, it’s the same thing. What is the percentage of our revenue coming through the artery of Lagos? It’s a lot. So why don’t you develop it? Because it’s just like a milking cow. If you have a cow that gives you a lot of milk, you should also take care of it so that you will get more milk from it. You can’t say that because the cow is this or is that, I won’t take care of it.

Because the most important thing is that when you feed it well, you will also get a lot of milk. So, if our airport is an ISO, and this is our major entry point, and then some investors or some people are not keen on coming because they feel we don’t have the right facilities, and some airlines cannot land, we are losing. So we ought to be very patriotic and genuine in terms of assessing some of these things’, he explained.

On October 1, 1960, Nigeria raised its green and white flag, declaring political independence. Yet independence has always been about more than politics; it is also about economics. From the trading magnates of the colonial era to the industrialists and financiers of today, Nigerian entrepreneurs have shaped the nation’s economic destiny.

As we commemorate Independence Day, it is worth reflecting on the business empires that emerged before independence, those that rose after independence, and the lessons they offer for a new generation of entrepreneurs.

The pre-independence Pioneers

In colonial Nigeria, indigenous entrepreneurs built fortunes against formidable odds. With little access to capital and markets dominated by European trading houses, they relied on vision, grit, and trust.

The following 10 figures, presented in alphabetical order, are not ranked or rated. They are highlighted as sources of inspiration for the next generation of Nigerians:

Chief Emmanuel Akwiwu – A transport entrepreneur from the Eastern Region, who built one of the early indigenous lorry fleets before independence.

Sir Mobolaji Bank-Anthony – Business magnate and philanthropist. Invested in real estate, aviation, insurance, and shipping from the 1940s and 1950s.

Chief Candido Joao Da Rocha – Lagos-based businessman of Brazilian descent; invested in real estate, water distribution, and banking.

Chief G.O. Adebayo Doherty – One of the first Nigerians to venture into shipping and maritime commerce, breaking a European monopoly.

Chief Hamzat Subair (Oyo) – Pioneer cocoa farmer and merchant, contributing to Nigeria’s global prominence in cocoa exports.

Sir Louis Odumegwu Ojukwu – Transport, textiles, and real estate tycoon; widely regarded as Nigeria’s first millionaire and founding president of the Nigerian Stock Exchange.

Chief Timothy Adeola Odutola – From cocoa trading to sawmilling, tyres, and manufacturing, he became one of Nigeria’s first industrialists.

Chief Igbinedion Okaigben Idahosa (Esama of Benin) – Started in timber and produce trading, later expanding into transport and hospitality.

Sir Alfred Rewane – Industrialist and political financier; combined commerce with activism in Nigeria’s independence struggle.

Chief Olatunde Johnson Shonibare – Prominent businessman and philanthropist who invested in real estate and supported educational institutions.

These pioneers proved that vision, trust, and boldness could create wealth even under colonial constraints.

The post-independence titans

Since 1960, Nigerian entrepreneurs have had to navigate military rule, policy shifts, oil booms, and global competition. Out of this turbulent context emerged titans whose influence extends across Africa and, in some cases, the world.

The following list of 10 names is again presented in alphabetical order, not as a ranking, but as inspiration for today’s entrepreneurs:

Mike Adenuga (Globacom and Conoil) – Indigenous telecom giant expanded into Ghana, the Benin Republic, and Côte d’Ivoire.

Folorunsho Alakija (Famfa Oil, Rose of Sharon) – Oil and gas exploration pioneer and a global advocate for women in business.

Aigboje Aig-Imoukhuede (Access Bank, Coronation Group) – Transformed Access Bank into a pan-African powerhouse; now expanding influence in finance and insurance.

Aliko Dangote (Dangote Group) – Cement, sugar, flour, and now petroleum refining; operations across more than 10 African countries.

Tony Elumelu (UBA, Heirs Holdings, TEF) – Banking footprint in 20 African countries, London, Paris, and New York; mentor to thousands of African entrepreneurs through the Tony Elumelu Foundation.

Mitchell Elegbe (Interswitch) – Fintech pioneer; expanded electronic payments across Africa with global partnerships.

Cosmas Maduka (Coscharis Group) – Built Coscharis into a pan-African conglomerate in autos, agriculture, and technology.

Femi Otedola (Forte Oil, Geregu Power) – Moved from petroleum marketing to power generation; active investor in capital markets.

Jim Ovia (Zenith Bank) – Founder of one of Africa’s largest financial institutions, with a presence in Ghana, Sierra Leone, South Africa, and the UK.

Benedict Peters (Aiteo Group) – Built one of Africa’s largest indigenous energy companies; diversified into power, mining, and agriculture.

These titans illustrate that Nigerian businesses are no longer confined to Lagos or Kano-they compete across Africa and influence the global economy.

Sidebar: From Pioneers to Titans – Shifts and Continuities

Pre-Independence Pioneers

Post-Independence Titans

Lesson for today’s SMEs

-Relied heavily on trust and personal reputation

-Built institutional brands with continental reach.

-Start with credibility, then scale.

-Operated within colonial restrictions, limited finance.

-Benefited from liberalisation and capital markets.

-Engage policy and position for global opportunities.

-Focused on trading, agriculture, transport.

-Expanded into industrials, finance, telecoms, fintech.

-Anticipate new frontiers (digital, renewable energy, AI).

-Wealth often stayed local or regional.

-Wealth is now continental and global.

-Design businesses to cross borders.

-Emphasised community trust and philanthropy.

-Emphasise foundations, CSR, and legacy.

-Business success is incomplete without social impact.

Lessons for the New Age

Integrity is capital – Pre-independence pioneers thrived on trust. In today’s transparent markets, credibility remains priceless.

Diversify intelligently – From Ojukwu’s ventures to Dangote’s empire, spreading risk while deepening expertise is key.

Leverage policy and partnerships – Both generations aligned with government priorities while seeking strategic alliances.

Build legacy, not just wealth – Many saw business as a platform for nation-building, not just profit-making.

Think continental, act global – Today’s entrepreneurs must see Africa as one market and the world as the next frontier.

Conclusion

At 65 years of independence (1960-2025), Nigeria is still navigating the journey from political to economic self-reliance. The stories of these 20 entrepreneurs, pioneers before independence and titans after, show that boldness and vision are timeless virtues. The pioneers built resilience out of scarcity; the titans scaled bold visions into global footprints. The next generation must combine the values of the past with the strategies of today.

The African proverb reminds us: ‘Until the lion tells his side of the story, the tale of the hunt will always glorify the hunter.’ Our entrepreneurs, past and present, are the lions telling Nigeria’s economic story, not as victims, but as empire builders.

For today’s business owners, the message is clear: honour the lessons of the past, adapt to the realities of the present, and build enterprises bold enough to shape the future. That is the true spirit of independence.

Aniete Udoh, one of Nigeria’s most respected communications leaders, has stated that the future of branding will not be defined by the loudest voices but by the most authentic storytellers.

Udoh, who is the divisional director at Marketing Edge, argues that in a world where consumers are increasingly skeptical and quick to challenge brands, credibility and cultural grounding must sit at the heart of modern communications.

‘Your story is your brand. If you are not telling it, someone else is, or worse, nobody is hearing it at all. You don’t need to wait to become rich or famous before telling your story. Start now. Start where you are. With what you have,’ Udoh said.

With nearly two decades of experience across journalism, PR, brand strategy and marketing, Udoh has played a central role in elevating Nigerian creativity onto the global stage. Under his leadership, Marketing Edge evolved from a trade journal into one of Nigeria’s most influential communications platforms, becoming the first Nigerian media partner at global events such as Cannes Lions, the Loeries, and the New York Festivals.

His own expertise has also earned international recognition. In 2025 alone, Udoh was named to the PR Power List and appointed as juror for the Effie Awards South Africa, the AME Awards Grand Jury, and the Native Advertising Awards Global Panel. These appointments mark a shift in how Nigerian professionals are viewed on the world stage – as credible voices shaping, not just following, global trends.

Udoh has been a leading advocate for treating storytelling not as a marketing tactic but as a strategic foundation. He has pushed brands and agencies to recognise the value of micro and nano influencers, whose cultural fluency and grassroots credibility make them powerful communicators.

Data shows that Nigerian brands now dedicate up to 35 percent of their budgets to influencer campaigns, a development Udoh helped frame as an investment in authenticity rather than a passing trend.

Equally central to Udoh’s philosophy is ethics. He cautions against the temptation to chase short-term visibility at the expense of credibility. ‘The lesson is clear: long-term credibility trumps short-term visibility,’ he said.

In a country where public trust in institutions is fragile and social media backlash can be immediate, Udoh insists that campaigns must be rooted in cultural authenticity and social responsibility.

For young Nigerian professionals entering a N605 billion ($725 million) advertising industry still battling uneven growth and regulatory hurdles, Udoh’s career offers both a roadmap and a challenge. His rise shows that professionals can build platforms at home that meet global standards, gain recognition abroad without losing local grounding, and redefine branding through authentic, ethical storytelling.

As he puts it: ‘The future will not belong to the loudest people. It will belong to those who can tell their truth well.’

Kenyon International, an indigenous oil and gas servicing company, has celebrated its 10th anniversary with a pledge to push Nigeria’s crude oil production beyond three million barrels per day, building on its track record of reviving idle and abandoned wells.

At the anniversary event held in Lagos, Victor Ekpenyong, the company’s Chief Executive Officer, said Kenyon had grown from its establishment in 2015 into a trusted partner in the energy industry by focusing on brownfield development and deploying advanced technologies to restore output.

‘Today, Nigeria produces over 1.5 million barrels of oil per day, and that continues to grow. We are proud that Kenyon has been part of this progress. Our mission is to continue reviving idle and ‘dead’ wells, introduce flexible evacuation technologies, and ultimately help Nigeria surpass 3 million barrels per day,’ Ekpenyong stated.

‘I believe that Nigeria’s hydrocarbons are the backbone of our industrial growth’, he added. ‘Our vision at Kenyon is to harness these resources responsibly by investing in technologies that allow us to process them locally, reduce dependence on exports, and create real opportunities for our people. This is how we intend to build energy security today while preparing for the cleaner alternatives of tomorrow’.

Looking ahead, he emphasised that Kenyon’s focus for the next decade will be innovation and collaboration, particularly in addressing production and evacuation challenges. He spotlighted the company’s deployment of Interwell MSAS technology, which restored more than 7,000 barrels per day without production disruption, delivering over 2 million barrels to date.

Kenyon International is an indigenous oilfield service company established in 2012, specialising in well intervention, completion, and control solutions. Providing services such as drilling completion support, wellhead maintenance, idle well management, and emergency blowout response, Kenyon has a proven track record in restoring production, including stabilising collapsing wells.

Meanwhile, Francis Nwaochei, Chairman of the Society of Petroleum Engineers (SPE) Nigeria Council, applauded Kenyon as a top supporter of SPE’s vision, particularly in advancing technology dissemination and youth development.

‘Kenyon has truly distinguished itself, not just through technical excellence but through a genuine commitment to people and industry growth.

‘Their support has helped us empower students, professionals, and the wider community, and I am confident that they will keep raising the bar for innovation and excellence in Nigeria’s oil and gas industry,’ he said.

As part of its anniversary initiatives, Kenyon International awarded scholarships to outstanding university students, reinforcing its commitment to youth empowerment and capacity building in the Nigerian oil and gas industry.

A new report has delivered a damning verdict on the state of transparency in Nigeria’s public sector, showing that only six out of 517 Ministries, Departments and Agencies (MDAs) met the minimum benchmark for accountability in 2025. The shocking figure leaves 511 agencies nearly 99 percent stuck in what the report describes as the ‘red zone,’ where lack of transparency, poor integrity measures, and weak compliance systems dominate.

The findings, contained in the 2025 Transparency and Integrity Index (TII), paint a bleak picture of governance and raise fresh questions about how public institutions handle taxpayers’ money, implement projects, and interact with citizens. For ordinary Nigerians, the figures are more than just statistics. They point to a broken system that directly affects livelihoods, service delivery, and public trust.

‘I am not surprised at all,’ Maryam Yusuf, a secondary school teacher in Kaduna who has struggled for over a year to get her pension processed told BusinessDay. ‘When you go to these offices, it feels like you’re begging for what belongs to you. Files disappear, people hint at bribes, and there’s no one to hold accountable. This report only confirms what Nigerians already know.’

Her story mirrors the frustrations of millions who encounter inefficiency and corruption in everyday dealings with government agencies from passport applications and driver’s licenses to healthcare and education services. The 2025 TII ranked MDAs on key indicators such as transparency in budgeting, adherence to ethical codes, disclosure of information, implementation of anti-corruption policies, and public accessibility of data. Out of 517 agencies assessed, only six crossed the minimum benchmark required to be considered ‘transparent and accountable.’ The remaining 511 were classified in the ‘red zone,’ a category that highlights severe gaps in integrity practices. Experts say this is not just a governance issue but also a drain on Nigeria’s economic potential.

‘An institution in the red zone is one that cannot give citizens confidence about how resources are managed,’ explained Michael Daramola, a governance analyst based in Abuja. ‘When you have 99 percent of agencies in this state, it means wastage, corruption, and inefficiency are almost systemic. The effect is poor service delivery, stalled development projects, and public distrust.’

The timing of the report is particularly striking. Nigeria is facing rising unemployment, mounting debt, and growing pressure to deliver on basic services such as healthcare, education, and security. Yet, public institutions remain bogged down by opacity. Citizens in rural communities often lament abandoned projects. A farmer in Ogun State, James Olaleye, recalled how his community was promised irrigation support under a federal program launched three years ago. ‘They came, took pictures, made announcements, but nothing followed,’ he said. ‘We never knew what happened to the funds. Reports like this show why projects vanish and the system itself hides the truth.’

The poor performance of MDAs also feeds into the broader problem of declining trust between citizens and the government. According to surveys, fewer Nigerians believe that government institutions work in their interest. Transparency experts warn that this growing distrust could weaken democracy. ‘When citizens cannot access information or demand accountability, the gap between the government and the governed widens,’ said Prof. Amaka Nwosu, a political scientist. ‘This report underscores that reforms are not optional, they are urgent.’

The six agencies that managed to scale the benchmark were not named in the initial summary, but analysts note that these institutions tend to have stronger leadership commitment to transparency, greater use of technology, and external pressure from civil society. Their performance shows that improvement is possible if deliberate steps are taken. Civil society groups have been quick to highlight this. ‘We cannot just dwell on the failure of the 511,’ said Hassan Bello, director of a Lagos-based accountability NGO. ‘The success of the six agencies should be studied and replicated. It means transparency is not impossible in Nigeria. It only requires willpower and systems that are open to scrutiny.’

The TII recommends reforms such as digitizing service delivery, enforcing compliance with existing transparency laws, strengthening whistleblower protections, and making budget and procurement information easily accessible to the public. For citizens, however, the call is simple: they want institutions that work. ‘We don’t want to read about billions allocated every year while hospitals have no drugs and schools have no chairs,’ said Yusuf, the teacher. ‘Let government agencies be open. Let them show us where the money goes.’

Observers say that unless urgent action is taken, the cycle of corruption and inefficiency will continue. Beyond publishing reports, they argue, there must be consequences for agencies that consistently fail to meet standards. ‘Transparency is not a luxury; it is the foundation of development,’ said . Daramola. ‘If Nigeria wants to reduce poverty, attract investment, and rebuild public trust, then integrity in MDAs must become non-negotiable.’

As Nigeria marks its 65th year of independence on October 1st, 2025, the prevailing narrative gravitates toward tribulation: inflation, currency volatility, security anxieties, and infrastructure deficits. Yet to obsess over trials alone is to miss the forest for the thorns. The Nigerian economy tells a story of resilience and latent potential that refuses to be extinguished. Here are compelling reasons for the measured celebration of Africa’s Giant.

The foundations of economic power

Nigeria’s economy stands as Africa’s largest, with GDP reaching N372.8 trillion in 2024. The economy expanded 3.84 percent in the fourth quarter of 2024, propelled by a services sector that grew 5.37 percent and contributed 57.38 percent to aggregate output. This reveals an economy gradually weaning itself from petroleum dependency, constructing robust alternative pillars for multi-generational prosperity. Non-oil exports reached $5.456 billion in 2024, a 20.79 percent increase, demonstrating that Nigerian products can compete internationally when afforded appropriate policy environments. The agricultural sector’s value surged to N4.44 trillion in 2024 from N1.24 trillion in 2023, creating millions of jobs while positioning Nigeria as a major agricultural exporter. From cocoa producers in the Southwest to sesame cultivators in the Middle Belt, farmers have transformed Nigeria into a competitive agricultural powerhouse. The Nigerian Exchange maintains market capitalisation exceeding N56 trillion with over 150 listed companies. The pension revolution has accumulated over N18 trillion in domestic savings channelled toward productive investment, while the banking consolidation of 2004 created robust financial institutions now operating across Africa.

Technology and innovation explosion

Lagos’s tech startup ecosystem hosted over 2,000 startups by October 2024, raising over $400 million during the year. The fintech revolution has democratised financial services spectacularly. Paystack processed N1 trillion worth of transactions in July 2024, while one major fintech claims over 50 million users with monthly transaction volumes surpassing $12 billion, fostering 400,000 job opportunities. Nigerian-founded companies like Flutterwave and Interswitch have achieved unicorn valuations, proving world-class technology companies can emerge from Lagos as readily as from Silicon Valley. Nigeria now functions as Africa’s undeniable digital finance leader and the continent’s largest tech talent hub with over 700,000 developers, attracting investments from Google, Meta, and Microsoft. The telecommunications revolution transformed Nigeria from fewer than 500,000 telephone lines in 1999 to over 180 million mobile subscriptions, enabling mobile banking, digital commerce, and countless economic activities. Over 100,000 kilometres of fibre optic cable now undergirds this dynamism.

‘From Guinness Nigeria’s successful localisation to Aba shoemakers’ indigenous entrepreneurship attracting international attention, Nigerian industrial capacity grows steadily.’

Infrastructure development and industrial capacity

The Dangote Refinery, commencing operations in September 2024 with the capacity to produce 650,000 barrels daily, fundamentally alters Nigeria’s petroleum economics. This monument to Nigerian industrial ambition, the world’s largest single-train refinery, transforms the nation from a crude exporter into a potential exporter of refined products. The cement industry achieved self-sufficiency and export capacity, transforming Nigeria from a major importer to a net exporter. The Second Niger Bridge completion, the Lagos-Ibadan Standard Gauge Railway, and the Lekki Deep Sea Port inauguration represent both symbolic and practical achievements. Over 100,000 kilometres of fibre-kilometres of optic infrastructure and 1.5 million new housing units in the past decade demonstrate sustained development momentum. Manufacturing continues to produce goods across numerous industries, with local manufacturers increasingly capturing domestic markets. From Guinness Nigeria’s successful localisation to Aba shoemakers’ indigenous entrepreneurship attracting international attention, Nigerian industrial capacity grows steadily.

Energy sector transformation

The Petroleum Industry Act passage in 2021, after two decades of paralysis, modernised the legal framework governing Nigeria’s most important industry. The transformation of NNPC into a commercial entity introduced accountability into previously opaque operations. Nigeria maintains its position as Africa’s top LNG exporter, while gas-to-power initiatives promise to transform previously flared resources into economic value. Renewables now contribute over 15 percent of rural electrification capacity as solar installations proliferate, reducing dependence on generators while enabling economic activities formerly impossible. The fuel subsidy removal in 2023, though politically risky, represented an economically necessary reform. Crude oil theft clampdown through improved surveillance has enhanced production volumes.

Human capital and creative industries

Diaspora remittances consistently exceed $22 billion annually, representing not merely financial flows but networks facilitating knowledge transfer and business partnerships. Over 60 percent of Nigerians are under 25, representing staggering demographic potential if properly harnessed. Nigerian universities, despite funding challenges, produce graduates competing successfully internationally, while over 120 now offer entrepreneurship studies. Nollywood has become a global cultural force and significant economic contributor. As the world’s second-largest film producer, it employs thousands while projecting Nigerian culture internationally. Nigerian music, led by Afrobeats, has achieved unprecedented global success, representing a multi-million dollar export industry. Nigerian literature continues its distinguished tradition, with authors winning major international prizes and achieving commercial success globally.

Financial inclusion and governance reforms

Financial inclusion expanded dramatically, with over 70 million Nigerians now possessing formal financial access, up from fewer than 30 million in 2010. The Bank Verification Number system enhanced banking integrity, while the Treasury Single Account improved public financial management, curbing leakages and consolidating revenues. The Companies and Allied Matters Act of 2020 modernised business law, easing the process for small and medium enterprises. The survival of democracy since 1999, with power changing hands between parties, provides prerequisites for long-term economic planning. The foreign exchange market reform of 2023, unifying multiple exchange rates, improved transparency and investor confidence. The Nigeria Sovereign Investment Authority, managing over $2 billion in assets, represents forward-thinking resource management. The African Continental Free Trade Area ratification positions Nigeria’s large market as a potential hub for continental commerce.

Grassroots resilience and social progress

Millions of small and medium enterprises form the true economic backbone, employing the majority of Nigerians. The informal sector, from Alaba International Market to the Okada economy providing last-mile transportation, demonstrates entrepreneurial resilience, moving billions in commerce. Cooperative societies provide critical capital for the informally employed. The healthcare system has made remarkable progress in combating previously devastating diseases. Polio has been eliminated, HIV/AIDS treatment has become widely available, and life expectancy has increased substantially. The pharmaceutical industry produces medications domestically, reducing import dependence. Social protection systems have expanded, with conditional cash transfers and school feeding programmes reaching millions of beneficiaries.

Looking forward

At 65, Nigeria stands at an inflection point. The economic foundations laid over decades provide platforms for accelerated growth. The demographic dividend, if properly harnessed, could propel Nigeria to unprecedented prosperity. The diversity of Nigeria’s economy provides resilience against shocks. Challenges remain real and require honest acknowledgement. Infrastructure deficits constrain growth. Security challenges disrupt economic activity. Corruption wastes resources. Policy inconsistency creates uncertainty. These realities cannot be wished away.

Yet achievements documented here demonstrate that progress is possible. From the farmer in Benue to the software engineer in Lagos, from the banker in Abuja to the trader in Kano, Nigerians are building an economy that, while imperfect, provides opportunity and generates wealth. That journey, spanning 65 years, deserves recognition and celebration. The greatest reason for optimism is that the Nigerian economic story is still being written. Its final chapter has not been decreed. If Nigerians bring to future challenges the same resilience, creativity, and determination that have characterised the first 65 years, the economic future remains bright. Nigeria at 65 has much to celebrate and even more to anticipate.

Happy Independence Anniversary to Africa’s Giant.

Music has ceased to play in Nigeria, or so it seemed yesterday. The faces that were once brightened by the joy of independence have become dull.

Nigeria yesterday was as cold as iced fish and as quiet as a graveyard. Singers have hung their musical instruments as disappointment runs in their veins. A day that was supposed to be a joyous moment of freedom has suddenly become a day of lamentation. That was the situation yesterday. Who did this to us? How did we get here?

In many cities across Nigeria yesterday, there were conferences hosted by governments, corporate bodies, religious bodies and individuals.

Those gatherings featured nostalgic forays into what worked in yesteryears and what is not working now. The events featured speeches of regret about how Nigeria has not lived up to being a potentially great nation as envisioned by the colonial masters.

This has been the ritual. year after year. Chances are that by this time next year, such gatherings would reconvene. Those who presented papers this year would just dust up the files, change the year, and they would be good to go.less lamentation, you may say.

Yesterday was supposed to be a celebration day. It was supposed to be colourful with many activities to mark it. It was the 65th anniversary of Nigeria’s independence.

But it wore a sombre look by every standard of assessment when compared to what the day used to be shortly after Independence and in the 80s and 90s.

It is a significant date in the life of Nigeria as a country. After a hard fight and agitation for an independent sovereign nation, the colonial masters at the time saw the need to exit the power stool. They handed power to indigenous leaders.

At that time, what is now known as the dreams of the Founding Fathers were born. They dreamed of a nation where tribe and tongue may differ, but in ‘brotherhood we stand’. They dreamed of handing to ‘our children a banner without stain’. They dreamed of a nation ‘where no man is oppressed’.

But whether these have been realised as the country marked the 65th anniversary is open to debate.

Every citizen, irrespective of tribe, tongue and religion, bought into the dream, which accounted for the effusive expression of joy and gladness that greeted the day.

The colonial rule ended at midnight on September 30, 1960. Lagos, which was at the time the capital of the country, was electric with all sorts of celebrations.

A great gathering of people from all walks of life and guests from foreign lands poured in. All Nigerians were on the same page.

No bitter politics. No recrimination. Just celebration galore. Everyone waved the green, white, and green flag, and there were cultural displays representing various parts of the country and their rich cultures.

Schoolchildren staged a march past, and they nursed hope for a brighter future. Many years after the effusive joy and great gladness during the anniversary, the conviviality that used to greet the day has vanished. Increasingly, leaders have reduced the day to a mere nationwide broadcast.

While Nigeria marked the day yesterday, citizens were burdened by many challenges, and they did not see reason to celebrate an independence they believe is largely on paper.

While the country celebrated yesterday, the media space was awash with unpalatable news about killings in some parts of the country by bandits and robbers. The families of 15 vigilante operatives and hunters killed by bandits in Kwara State were in a mourning mood. The murder of a female journalist with Arise Television in Abuja, a few days ago, by armed robbers, was still fresh in the minds of citizens as Nigeria clocked 65.

There was lamentation across the country. While some were complaining about hunger and abject poverty, others were saying that they no longer feel safe. The government’s efforts have not been able to meet the needs of the people.

On the security front, Nigeria has moved from a nation where citizens moved freely in the past to one where any movement from one part of the country to another is fraught with enormous danger.

Killers in the name of bandits, kidnappers, organ harvesters, Boko Haram and other criminal gangs lay siege every inch of the way.

It is so much so that Nigerians now engage in days of prayer and fasting before they embark on interstate journeys. In those days, parents would hand over their children to complete strangers travelling with commercial buses or trains to another part of the country, several kilometres away. Those children arrived at their destinations safely and in peace. Such things no longer happen today. Only politicians with a heavy armada of security personnel and bodyguards can easily move around these days. Nigeria has degenerated to a level where communities are signing memoranda of understanding (MoU) with bandits to be allowed to live in peace in their own domain.

Citizens are slaughtered like chickens across the country. The security situation in Katsina, Kaduna, Sokoto, Zamfara, Borno and now Kwara has become worrisome. Non-state actors appear to be dictating the pace of things in the country.

This was never part of the dreams of the founding fathers. The most worrisome of it all is that we hear daily that those saddled with the onerous task of protecting the lives and property of citizens are being compromised. They are being corrupted to sell out, and the country is paying heavily for it. Life is, incrementally, becoming brutish and short in Nigeria.

Nigeria has come to a point where her citizens prefer living abroad to staying back home, with all the hazards they meet on their way while travelling. Today, if aircraft could be stationed at all the international airports in the country to freight people to Europe and America at no charge for them to go sweep the streets of those countries, not many people would be left behind.

That is the criticality of the situation, and that was never the dream of the forebears.

Unlike at independence, when Nigerians spoke with one voice and saw things from the same point of view, today, they are a divided lot. Nigeria has become a babel, and hatred has deepened.

Many Nigerians, except those in government, agree that Nigeria is more divided today than it has ever been in its 65 years of existence.

The acclaimed social cohesion is non-existent, and the evidence is everywhere. What many Nigerians are seeing today is a nation that is being gradually driven to a precipice. People now talk about their ethnic leaning more than their Nigerianness.

People today are apprehensive about living outside their geopolitical zones; these are no signs of a progressive nation.

Nigeria is positioning itself as a global leader in the Artificial Intelligence (AI) revolution with a National AI Strategy, targeting $15 billion contribution to the nation’s GDP and equipping 70 percent of its youthful workforce with AI skills by 2030.

The announcement, highlighted by Oluwaseun Dania, managing director of Alpha-Geek Technologies, during the United Nations General Assembly’s Global Dialogue on AI Governance in New York, underscores Nigeria’s commitment to harnessing AI for economic growth and equitable innovation.

The National AI Strategy, spearheaded by president Bola Ahmed Tinubu’s administration through the minister of Communication and Digital Economy, Bosun Tijani, is a collaborative effort with the Nigerian Artificial Intelligence Research Scheme (NAIRS) and the National Centre for Artificial Intelligence and Robotics (NCAIR). The blueprint projects a 27 percent annual market expansion through 2030, positioning AI as a cornerstone of Nigeria’s digital economy. The strategy focuses on leveraging AI to bridge infrastructure gaps, drive fintech innovations, and foster stablecoin initiatives, while prioritizing ethical innovation and skills development.

Speaking at the UN, Dania, a prominent voice in African technology, emphasized that Nigeria’s approach is not just about economic gains but about uplifting lives. ‘The success of the AI revolution should be measured by lives uplifted, not merely GDP spikes,’ he said, highlighting Nigeria’s mobile-first AI adoption and its potential to empower the world’s youngest workforce.

With over 60 percent of Nigeria’s population under 25, the goal of equipping 70 percent of young Nigerians with AI capabilities by 2030 is a transformative step toward building a skilled, future-ready generation.The strategy addresses both opportunities and challenges.

Dania warned of AI’s risks, including deepfakes eroding trust, biased algorithms perpetuating inequality, and data monopolies exacerbating global divides.

To counter these, Nigeria’s plan incorporates African-led ethical standards, drawing on the communal value of ubuntu (humanity toward others), to ensure privacy-by-design and bias audits. It also emphasises resilient infrastructure, such as predictive analytics for pandemics and energy optimisation, while safeguarding against the misuse of AI.

Dania stressed that Nigeria’s vision aligns with broader African priorities for equitable AI access, ethical safeguards, and infrastructure investment, adding that, ‘Africa is ready to co-create, not merely comply,’ he declared, urging global stakeholders to include the continent’s 1.4 billion voices in shaping AI governance.

EmoSIM, Nigeria’s first ‘out-bound’ travel e-SIM, has demonstrated its capacity to provide affordable and world-class mobile experience that allows Africans to access mobile networks in over 190 countries.

Developed in collaboration with Tata Communications, a world leader in digital infrastructure, EMOSIM Travel e-SIM is tailored for the modern Nigerian traveller-whether for business, study, leisure, or diaspora engagement.

Speaking at the Digital Innovations media briefing held in Lagos recently, Jimmy Eboma, EmoSIM Chairman and Founder, explained, ‘EmoSIM was created for travellers who need seamless connectivity anywhere in the world. Our mission is simple: one eSIM for every trip. Our vision is to make global communication seamless, affordable, and swift.

Eboma underscored the company’s three core pillars: ease, convenience, and affordability, noting that activation takes only minutes directly from a user’s phone, with no paperwork required. ‘The solution is as easy as scanning a QR code before travelling, which instantly activates the eSIM,’ he said.

Beyond ease of use, Eboma highlighted security as a key focus: ‘Virtual SIMs cannot be transferred unless both the device and email are compromised. Activation codes are sent only to the user’s email, and eSIM profiles can be deactivated and restored seamlessly in cases of phone theft. With EmoSIM, your identity remains secure, unlike with plastic SIMs, which anyone can use if stolen.’

EmoSIM is also known for its customer-first approach, with plans to extend its value beyond outbound eSIM services into MVNO operations, digitising connectivity and reshaping how Africans experience mobile communication both at home and abroad.

In just three months of its launch, EmoSIM has established physical presence across the SADC region, including. South Africa, Botswana, Zimbabwe, Zambia, Namibia, Mozambique, Eswatini, Lesotho, Angola, Malawi, Tanzania, and the Democratic Republic of Congo, demonstrating its rapid growth across Africa.

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