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Recently, the Federal Airports Authority of Nigeria (FAAN) faced criticism for allegedly lacking insurance coverage for federal government-managed airports.

Edward Boyo, founder and CEO of Overland Airways, publicly expressed concerns at an industry event, stating that FAAN’s failure to insure airports across the country exposes airline operators’ equipment to potential damage.

Boyo urged the National Insurance Commission (NAICOM) to engage with relevant authorities to ensure that all airports in Nigeria are properly insured, lamenting that poor airport infrastructure has resulted in significant damage to aircraft, with airlines bearing the financial burden.

Boyo highlighted the need for proper insurance coverage for airports, citing issues such as inadequate wildlife control and runway deterioration, which have caused damage to aircraft. ‘These infrastructures are not insured,’ he emphasised. ‘The government would have to meet its own responsibility.’

However, Olubunmi Kuku, managing director of FAAN, debunked Boyo’s claims, stressing that all federal government’s airports managed by FAAN are insured, with the insurance coverage up to date.

‘Derubberization and runway hygiene have been maintained; records are available. The only area I would concur is habitation and community issues that have impacted wildlife/bird strikes, and we have been working closely with relevant stakeholders to control,’ she stated.

According to Kuku, historical runway issues based on structural and engineering problems on some of the runways, along with those exceeding their lifespan, are being corrected gradually with complete overhauls and maintenance.

Some stakeholders have raised concerns about why airlines still pay substantial sums of money for damage resulting from poor infrastructure at the airport, such as bad runways, bird strikes, broken conveyor belts, and tight parking spaces, among others. They argue that if the airports are truly insured, FAAN should be liable for damages caused by its inefficiencies.

Insurance experts, however, clarify that airport insurance does not function in this manner as individuals and companies are responsible for insuring their own properties.

Sunny Ateba, an airline insurance expert, explained that operators and agencies have the responsibility to insure their own equipment against damages and should therefore have their own insurance coverage.

‘FAAN owns the airport terminals, so they are responsible for providing insurance to cover public liability and terminal buildings against damage,’ Ateba said.

Ateba provided an example, stating that if an airplane or moving equipment damages another plane parked on the tarmac, a third-party claim should suffice. He noted that airlines are also expected to insure their passengers in case of crashes or incidents.

‘If you rent a shop from FAAN to sell shoes, it’s your duty to insure your shoes. Similarly, if your aircraft hits the runway and the tyres are damaged, you can make claims for insurance to cover the damages, provided the aircraft is fully insured,’ the aviation expert explained.

Ado Sanusi, managing director of Aero Contractors, corroborated this view, stating that when airline operators insure their equipment, any damage would be covered by the insurance company.

‘If I insure my airplane and damage it due to poor infrastructure, my insurance company would cover the damage. Insurance is a stabilising factor in everyone’s business, and everyone is expected to insure their properties,’ Sanusi emphasised.

He added that FAAN’s insurance coverage does not extend to individual airline operators’ equipment, and each party is responsible for insuring their respective assets.

‘As FAAN insures its assets, so do the airlines, vendors, ground handlers, and airline operators,’ Sanusi concluded.

‘Sweet Us’, the masterpiece song by a hitmaker Timaya, was popularised by former governor of Rivers State and current Minister of the Federal Capital Territory (FCT), Nyesom Wike.

While he was in Rivers and now in Abuja, he adopted the song as his signature tune and dances to its rhythm. In fact, he relishes the lyrics every time he commissions a project.

Is he living the music? Your guess is as good of mine!

For 65 years, Nigeria has had a combination of military and democratic regimes. In all of these years, one thing has remained constant- they against us!

The ruling class smiles while we frown. They laugh while we cry. They celebrate while we weep. They enjoy themselves to the fullest while we pine in abject poverty. They parrot patriotism while they are the most unpatriotic, and they preach belt-tightening but revel in all manner of extravagance.

The ruling class has always considered itself a special breed. They use the opportunity of office to better their lots. That is why ‘former this and former that.’ in Nigeria never know poverty again after holding public office no matter how short their exposure to power is. They use the opportunity of their office to make themselves stupendously rich.

Whether it was in the military era or in the democratic era, former and present leaders are among the wealthiest citizens. They flaunt this wealth to the chagrin on many of their compatriots.

Since Independence in 1960, no past president or head of state of Nigeria has ever been officially probed over appropriation or misappropriation of funds, even when there are stark evidences pointing to their high level of maleficence.

In all of these years, Nigeria has been mercilessly milked and raped by so-called leaders.

While the nation’s public debt stock continues to rise dangerously, currently standing at N149.39trillion (about US$97billion, there are few individuals in Nigeria that can be said to be richer than the country with no known viable businesses other than their exposure to public till.

Nigeria’s borrowing binge became a serious concern recently that the Speaker of the House of Representatives, Tajudeen Abbas cried out, calling for urgent reforms in borrowing practices and oversight.

‘.Even more concerning is the debt to GDP ratio, which now stands at roughly 52 percent, well above the statutory ceiling of 40 percent set by our own laws. This is not just a budgetary concern but a structural crisis that demands urgent parliamentary attention and coordinated reform,’ Abbas said.

But the greater concern is in the outlandish lifestyle of those who should be cautious about the perilous and state of the country. They rather chose to live above their means and drive the costliest automobiles in town in a country with high multidimensional poverty with the 2022 National Multidimensional Poverty Index (MPI) indicating that 63 percent of the population (133 million people) are multi-dimensionally poor

Today, it is safe for leaders to reel out their efforts in steadying the economy, but at the same time they flaunt their lavish lifestyles before the traumatized citizens. Confucius, Chinese philosopher, said: ‘In a country well governed, poverty is something to be ashamed of; in a country badly governed, wealth is something to be ashamed of.’

What this means is that when a government is effective and provides for its people, the existence of poverty is a sign of a societal failure, reflecting a lack of capability in the populace. Conversely, in a poorly governed society, immense wealth (such as the one being exhibited by leaders) can be seen as a symptom of corruption or exploitation of others, making it a source of shame.

Security

On this front, Nigeria has moved from a nation where citizens moved freely in the past to a point 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 assorted criminals lay siege every inch of the way, 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 busses or train to another part of the country, several kilometers away. Those children arrived their destinations in peace. Such things no longer happen today. Only politicians with heavy armada of security personnel and body guards easily move around these days. Nigeria has descended to a level where communities are signing memorandum of understanding (MoU) with bandits to be allowed to live in peace in their own domain.

Housing

This is another serious challenge in the country. With housing deficit over 20 million, many citizens live in unhealthy environments. Thousands of citizens live and sleep under the bridges and in uncompleted buildings in cities whereas their leaders in government live in palatial homes provided for them with tax payers’ money. They also own multiple houses within and outside Nigeria. A good number of public office holders are said to hide stolen wealth in real estate. High rise buildings and estates are built in highbrow areas of the country and in undeveloped places in Abuja, Lagos and other places across the country.

These buildings are left uninhabited for many years because the owners did not make the money in clean ways. Such buildings serve as store of value, whereas people are homeless everywhere.

Education

The story of education in Nigeria has moved from one that was qualitative to being wishy-washy as a result of many years of neglect of the sector. In the early years after Independence, the nation’s universities attracted students from foreign countries, who deliberately proffered to school in Nigeria to other places. They admired the quality education in Nigeria and they got it.

In those days, there were scholarships to certain levels which enabled children from poor homes to go to school. Many of them, upon graduation, got good jobs through which they lifted their poor families. But as years rolled by, those who were responsible for making policies for the nation’s education watered down everything and scholarship became a matter of ‘who you know.’ Corruption also became entrenched in the system. Education budgets became food for the boys and government schools began to lose their charm. Then, those who used to come from other lands became discouraged and disinterested. Private schools began to spring up to the point that quality became compromised.

Public office holders and other wealthy Nigerians began to send their children abroad for studies. Although Nigeria today has about 276 registered universities (73 federal, 67 state and 136 private) according to the National Universities Commission (NUC), many of them are just existing by name. The growth of a nation’s education cannot be determined by the number of schools there are in a country. It is the quality that determines it. The most pathetic story is that over 70 percent of the graduates every year do not have a job. Many of them are forced to go into ‘menial jobs’ to eke out a living. There is the need, urgent need for that matter, to declare an emergency in the nation’s education sector.

Healthcare

Perhaps, no other sector captures the stunted growth of Nigeria than the health sector. There is no denying the fact that a lot is being done and has been done, but they all amounted to ‘too little too late’. In the past, many Nigerians believed so much in the health institutions in the country. The Lagos University Teaching Hospital (LUTH), University Teaching Hospital (UCH) Ibadan, University of Nigeria Teaching Hospital (UNTH) and a few others were go-to places and gave Nigerians hope, but today, they have become a shadow of their old selves. Apart from chronic dearth of qualified personnel because of the ‘japa’ syndrome occasioned by frustrating operating environment, the high cost of running the facilities has hampered quality service delivery. Today, such institutions are groaning under the weight of high electricity bill among others. The neglect of the nation’s healthcare sector became total when presidents and other public office holders began to jet out to London, France and India to treat throat and ear infections.

Deepening fault lines

Many Nigerians, except those in government, speak in tandem that Nigeria is perhaps, more divided today than it has ever been in its 65 years. 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 living outside their geo-political zones. These are no signs of a progressive country. And as e dey sweet the powers that be, e dey pain the people!

While the leaders revel in endless enjoyment and claim of a burgeoning nation, the masses are gnashing their teeth and the nation continues to totter.

One thing that has so much affected the country is the increasing trust deficit. Until the ruling class begins to win back the trust of the people, the expected growth may continue to be in the realm of aspiration.

Africa’s fintech sector in 2025 is positioned to be a powerful force for economic growth, access to financial services, and global competitiveness. Its rapid expansion over the past decade has created a foundation for scaling operations, building trust with users, and extending influence beyond the continent. The coming years will be critical for solidifying gains and addressing persistent challenges.

In 2024, mobile money platforms in Africa processed over $1.1 trillion, representing almost three-quarters of the world’s mobile money transaction volume. This volume signals that digital financial services have moved from marginal to mainstream on the continent.

In parallel, cross-border payment initiatives, such as the Pan-African Payment and Settlement System, have reduced intra-African transaction costs by nearly 27 percent, a significant step towards regional economic integration and increased trade. Despite a tightening regulatory environment and more cautious investment climates, fintech companies in Africa secured equity funding amounting to $2.2 billion in 2024, indicating investor confidence in the sector’s resilience and future potential.

Strengthening scale through innovation

For African fintechs to expand their reach, innovation must remain a central focus. Embedded finance is becoming increasingly widespread, enabling non-financial platforms to offer integrated financial products. E-commerce, agritech, and gig-economy platforms increasingly embed loans, insurance, and payment services directly within their user experience, eliminating barriers and simplifying access for informal and small businesses. This seamless integration facilitates growth beyond traditional banking channels, creating new opportunities to serve underbanked segments reliably and efficiently.

Moreover, cross-border payment solutions have made strides in simplifying and reducing the cost of remittances and trade payments within Africa. Startups utilising blockchain and stablecoin technologies have introduced faster settlement processes across national boundaries, crucial for the African Continental Free Trade Area’s ambitions to expand intra-continental commerce. These developments foster a larger addressable market and reinforce the potential for scale.

Building trust through transparency and compliance

Trust is a cornerstone for fintech adoption and sustained usage. African consumers and businesses require confidence in the security and transparency of digital financial services. Firms that commit to stringent security protocols, clear transaction processes, and adherence to evolving regulatory standards position themselves as reliable partners. Transparency in operations combats financial fraud and builds credibility in markets where consumer scepticism can be high due to historical mistrust of financial institutions.

Furthermore, regulatory frameworks across Africa are maturing to formalise fintech operations. While compliance requirements present operational challenges, they also provide clarity and protection for consumers and service providers alike. Regulatory progress on cryptocurrencies, data protection, and open banking demonstrates efforts to establish a robust ecosystem where fintech can flourish sustainably.

Pursuing global relevance

African fintech’s global relevance depends on its ability to demonstrate competitive advantages and innovative solutions in a crowded international market. The capacity to profitably serve low-income and previously excluded populations through cost-efficient models presents a unique value proposition. Diversity across financial services such as mobile money, lending, payments, and insurance creates multiple pathways to growth and cross-border collaboration.

Additionally, attracting global investment and partnerships will be key. Leading fintech hubs like Lagos, Nairobi, Cairo, and Johannesburg continue to secure significant funding rounds, which facilitate product development and market expansion. The success of unicorns such as Flutterwave and OPay acts as proof points for Africa’s fintech capacity to meet global standards while addressing local needs.

Africa’s fintech at a crossroads

Despite promising trends, challenges remain. Customer acquisition costs in Africa are substantially higher compared to other regions, pressuring fintechs to balance growth with financial sustainability. Infrastructure gaps, digital literacy, and regulatory complexities also require ongoing attention. However, these issues also create high entry barriers, protecting market share for well-capitalised and locally knowledgeable players.

Africa’s fintech sector must continue to sharpen its focus on scalable innovation, trust-building, and regulatory cooperation. Collaboration between fintech companies, banks, regulators, and technology providers will be essential to cultivate a conducive environment for growth. By doing so, African fintech can reinforce its role as a critical driver of economic development, financial inclusion, and a competitive player on the global stage.

In summary, 2025 represents a crucial juncture for Africa’s fintech industry. With over $1.1 trillion in mobile money transactions processed in 2024 and institutional advances making cross-border payments simpler and cheaper, Africa is demonstrating its capacity to innovate and scale. The challenge now is to build lasting trust and sustain that growth to secure a position of global relevance. If met, these goals will mark a significant shift in the global financial landscape and provide millions of Africans with new economic opportunities.

On Saturday 13th September, 2025 The Star NetworkPodcast (‘TSNP’) launched the first edition of its Business Meet and Greet series. The platform, Founded and Hosted by Zephia

Ovia-Ikem, is a Podcast and Business community thatshowcases the Entrepreneurial Journey of African Founders.From industry experts to startups and creatives, the platformshares what the African blueprint to business looks like.

Beyond story-telling, The Star Network Podcast is expanding its offerings to focused group engagements between industryexperts with over 30 years of corporate experience and young African Founders.

The first edition of the Business Meet and Greet series featured Mrs Munira Shonibare (CEO and Founder IO Furniture) Nigeria’s leading Furniture manufacturing company and interior design service. As the Business expert of the day, she shared valuablelessons with 16 young founders from The Star Network Podcast community, sharing on how to problem solve in various startup scenarios. The audience left the session enriched on amasterclass on leadership and business tools as well as connecting with other Founders

‘My vision is to support the next generation of Founders in theirentrepreneurial journey through direct access to expert-led communities, mentorship, startup tools, and avenues for funding by providing access to seasoned business leaders.Given this is the first edition, I’m excited to see how the initiative grows into different dimensions while maintaining the core goal – access for young entrepreneurs ‘ says Zephia Ovia-Ikem.

The Star Network Podcast currently has 6,000k+ subscribers onYouTube and is available on all major platforms such as Spotify, Apple Podcasts, Instagram, LinkedIn etc

In the fiercely competitive landscape of small and medium-sized enterprises (SMEs), environmental, social, and governance (ESG) is no longer a ‘nice to have’ or a badge for large corporations: it is fast becoming a decisive differentiator. For entrepreneurs seeking to scale more quickly, embracing ESG frameworks offers practical pathways to access capital, attract investors, and accelerate progress. Below, I outline how SMEs can realise this potential-and point to homegrown examples that show it works.

Why ESG matters for SME growth

1. Access to capital

Investors, from impact funds to development finance institutions (DFIs) and commercial banks, are increasingly tying funding to ESG performance. Green bonds, sustainability-linked loans, and grants often favour businesses that can demonstrate solid environmental stewardship, social impact, and credible governance practices. Compliance with ESG frameworks helps SMEs qualify for such instruments, often on more favourable terms (lower interest, longer tenors, or performance incentives).

2. Attracting investors and partnerships

Investors are increasingly demanding more than financial returns. They want businesses that mitigate risk (especially environmental risk), that engage positively with their communities, and that are transparent and well governed. ESG becomes a seal of confidence and legitimacy. Further, many global supply chains now impose ESG criteria: an SME that can meet these will unlock international buyers and partnerships.

3. Operational efficiency, trust and brand value

Good ESG practices lead to cost savings (through energy efficiency, waste reduction, and improved labour productivity), reduced regulatory or reputational risks, and stronger stakeholder relations. For employees, customers, local communities, and even regulators, a business seen to act responsibly tends to enjoy greater loyalty and less friction. All of which speeds growth.

How to align with ESG frameworks: Practical steps

Start with materiality: Identify which ESG issues matter most in the enterprise’s sector and for its stakeholders. For an agricultural SME, water usage or soil health might be material; for a digital/fintech SME, data privacy and financial inclusion may rank higher.

Governance structures: Even small companies benefit from clear governance policies: defined decision-makers, transparent reporting (even internally), and risk assessment. Governance builds investor confidence.

Measurement, reporting and disclosure: Keep simple but reliable data. Use existing ESG frameworks (global or regional) or standards that are ‘proportionate’ to SME size. Disclosure doesn’t have to be costly-it can start with basic ESG metrics and evolve.

Leverage support and networks: Use accelerator programmes, angel or impact investor networks, and industry associations that help with ESG capacity building. Government policies or regulations sometimes offer incentives or relief for ESG-compliant practices.

Embed ESG into strategy: ESG should not be a side project but part of strategic planning: how products are designed, supply chains managed, stakeholders engaged, and growth planned.

Nigerian examples of SMEs scaling with ESG

Nigeria already has multiple SMEs that illustrate how integrating ESG can accelerate growth.

Farmforte: This agribusiness startup emphasises sustainable farming methods, renewable energy, and efficient water usage. By doing so, it has attracted international funding and interest, boosting its capacity and enabling expansion of its agro-industrial park. (Businessday NG)

She included a fintech SME focused on financial inclusion, especially for women entrepreneurs. By aligning with social impact goals (women’s empowerment and inclusion) and strong governance, Shecluded has been able to draw in investors who care about social returns as well as financial ones. (Businessday NG)

These are not just feel-good stories. They demonstrate that ESG alignment can enhance fundability, reduce capital costs, foster market trust, and facilitate scaling.

Challenges and how to overcome them

Of course, many SMEs face barriers: lack of awareness, limited technical capacity, the cost of setting up measurement or reporting systems, and external pressure (regulation, supply chain demands) without support. Research in Nigeria shows that inadequate internal environmental management policies, lack of know-how, and limited access to sustainable finance are especially binding constraints. (SpringerOpen)

To overcome these:

-Governments and regulators must simplify ESG compliance for SMEs-proportionate disclosure, clear guidance, and support programmes.

DFIs, impact investors and development partners should provide blended finance or grants to help SMEs build ESG capacity.

-Industry associations, accelerators, and civil society can build peer networks and knowledge sharing.

ESG and access to capital: What investors are looking for

Investors looking to back scaling SMEs tend to assess ESG performance via:

-Environmental: carbon footprint/energy efficiency; resource usage; waste management; adaptation to climate risk.

-Social: labour practices (fair wages, safety); diversity/inclusion; community impact; customer protection.

-Governance: transparency; board or leadership clarity; supply chain integrity; risk management.

Meeting these criteria allows SMEs to both apply for ESG-specific capital (green funds, impact funds) and improve their attractiveness in standard investment due diligence.

The ESG growth multiplier

When ESG is well integrated:

-SMEs reduce risk (regulatory, reputational, operational), thereby lowering the cost of capital.

-They open new markets (export markets or supply chains with ESG stipulations).

-They build stronger brands, greater customer trust, and better employee retention.

-They may become eligible for incentives (tax breaks, government contracts, preferential loans).

These gains compound: better capital, better operations, better scaling.

Conclusion

For SMEs in Nigeria and across Africa, ESG is not a distant requirement tied only to large corporations. It is a growth enabler: one that unlocks better capital, stronger partnerships, and more resilient operations. Entrepreneurs who align their strategies with ESG frameworks now position themselves not only for faster scaling but also for sustainable scaling.

As policy continues to evolve (for example, mandatory ESG or sustainability disclosure standards, or ESG-linked financing instruments), those SMEs who have already done the work, or who begin now, will have a competitive head start. For entrepreneurs, the message is clear: invest in ESG not just for compliance or ethics, but as a deliberate accelerator of growth.

The federal government has successfully brokered an agreement between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the management of Dangote Petroleum Refinery, leading to a decision to call off the association’s strike action and redeploy disengaged workers of the refinery.

The reconciliatory meetings at the instance of the Minister of Labour and Employment, Muhammad Dingyadi, had become necessary following the PENGASSAN’s directive to members to stop gas supply to Dangote Petroleum Refinery and withdrawal their services over what was described as the unlawful termination of over 800 of its members by the refinery’s management.

As contained in communique signed by all parties at the end of the meeting, Dingyadi informed the meeting that unionisation was a right of workers in accordance with the laws of Nigeria and that this right should be respected.

The communique stated that after examining the procedure used in the disengagement of workers, the meeting agreed that the management of Dangote Group shall immediately start the process of taking the disengaged staff to other companies within the Dangote Group, with no loss of pay.

‘Whereas the leadership of PENGASSAN said that the directives given to stop the supply of gas to Dangote Petroleum and withdrawal of services was in response to the termination of appointment of over Eight Hundred members of PENGASSAN by the management of the Dangote Refinery and Petrochemical Limited, the management of Dangote Refinery and Petrochemical on the other hand, explained the reason for disengagement of the workers was as a result of the ongoing reorganization in the company. ‘No worker will be victimised arising from their role in the impasse between Dangote and PENGASSAN.

‘PENGASSAN agreed to start the process of calling off the strike. Both parties agreed to this understanding in good faith,’ it stated.

The conciliation was attended by high-ranking officials of government, including the National Security Adviser; Minister of Finance and Coordinating Minister of the Economy; Minister of Budget and Economic Planning; Minister of State for Labour and Employment; Director-General of the Department of State Services (DSS); Director-General of the National Intelligence Agency (NIA); Permanent Secretary of the Ministry of Petroleum Resources, representing the Minister of State for Petroleum Resources (Gas); as well as the Permanent Secretary of the Federal Ministry of Labour and Employment.

Also present were the chief executives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), alongside representatives of the Nigerian National Petroleum Company Limited (NNPCL), the leadership of the Trade Union Congress (TUC), and the President and Secretary-General of PENGASSAN.

Onitsha, the commercial hub of Anambra State is experiencing a windfall of bountiful harvest as new yams flood markets in the area from the agrarian communities across the River Niger.

The coastal Ose Market, Marine, and Akpaka forest area are awash with fresh yam produce coming from the year’s harvest.

Speaking to newsmen, the farmers claimed to have had a bountiful harvest this year and were satisfied with the level of patronage from buyers.

Mazi Emeka Ozuah, a farmers said he was happy that hardship would drastically reduce with the new yams in the markets

‘It will help to stabilize the price of other food commodities in the markets, making it affordable for the suffering consumers,’ he said.

A brief survey of food prices in the State revealed a sharp drop in the prices of some staple foods like rice and garri.

A painter of rice now sells at N3,700 as against N6,000, while a painter of garri now sells N1,200 as against N3,200 depending on types.

Tubers of yam price varies based on the size from N500, N700, N1000 and up. The old yams have disappeared from markets.

Also, a bag sweat potato sales between N5,000 and N8,000 as against N16,000 to N18,000 before.

The communities of Anam, Aguleri, and Umuleri in Anambra East and West are known for their agricultural output, especially yams, the staple and traditional food of the Igbo people.

In Anambra State, Southeastern cultivation thrives in fertile riverine and savanna soils, supporting food security and livelihoods for millions. Examples of key communities include Anam in Anambra West LGA, where eight villages produce over 70% of the State’s foodstuffs, including massive yam yields from the floodplains of Rivers Niger and Anambra.

The Nteje community specialises in seed yams for sale, minimizing home consumption to maximize commerce.

Igbo-Ukwu in Aguata LGA embraces innovative sack cultivation, training over 45 farmers in 2022 for sustainable, space-efficient farming. These areas yield white, yellow, and water yams, integral to festivals like Otite Anam New Yam rites.

Despite challenges like soil degradation, yam farming boosts economies, with smallholders earning a living via markets like Oye Achalla and Ose Okwodu grocery market.

Africacomicade, Africa’s leading catalyst for the immersive and interactive media industry, has announced the sixth edition of Gamathon Nigeria 2025, the flagship event of its continental tour, set to hold in Lagos.

The convention will also debut a $30,000 fund dedicated to supporting African game developers, highlighting its role as a launchpad for industry growth.

The gathering, themed ‘Bridge’, is being positioned as the continent’s most important platform for video games, extended reality (XR), animation, and digital creative industries. Organisers say the event will not only connect Africa’s innovators with investors, policymakers, and industry leaders, but also channel new funding opportunities, including the $30,000 Android Game Development Program, to help position African youth as creators in the fast-growing global digital economy.

Building on regional tours in Kenya, Ghana, and South Africa earlier this year, the Nigeria edition, the flagship event and grand finale of this year’s continental tour, will take place in Lagos from September 29 to October 4, 2025, and is expected to consolidate the movement into one transformative week.

‘The regional tours in Kenya, Ghana, and South Africa have demonstrated the immense talent and potential across our continent,’ said Michael Oscar, Founder of Africacomicade. He said the event would help unlock new opportunities for cross-border collaboration, investment, and youth empowerment.

Alongside the $30,000 development fund, the convention will feature the unveiling of new titles such as Relooted and the introduction of promising studios like Cregon Studios and the official launch of games from the Android Port Challenge, backed by Google.

In addition, the convention will award winners from the Sanlam Alliance Challenge and a special showcase of Tossdown, the recently published hit game, in an exclusive version. The event addresses a critical market opportunity as Africa’s gaming and creative tech sectors experience growth. With the continent poised to contribute significantly to the next billion digital consumers globally, Gamathon 2025 focuses on positioning African youth as creators rather than merely consumers.

‘The next billion players are coming from the continent,’ emphasised Oscar. ‘It’s crucial to position our youth as creators to ensure a sustainable future for our society and economy.’

It is two years since you took over as chairman of the Federal Inland Revenue Service (FIRS). How has the journey been and what would you give as your achievements in the agency?

When we set out on this journey, our mind was set on reforming the fiscal landscape of Nigeria and consequently changing the revenue structure of the Federation. To the glory of God, two years on, the figures are justifying that the reforms we embarked upon were the right steps to take. Let me start from the latest evidence, for the first time the three tiers of government shared a record monthly allocation in excess of N2 trillion. States and local government councils are now more empowered to carry out their responsibilities to Nigerians in their domains.

Nearly 70 percent of what the three tiers of government gather every month to share comes from tax revenue collected by FIRS. This is an eloquent testimony to the reforms spearheaded by President Bola Ahmed Tinubu. So, all credits must go to the president for the courage he has demonstrated in leadership by setting the economic fundamentals right in order for the reforms to bring plenty fruits and gains for the federation. By removing subsidy on petrol and collapsing the hitherto dual exchange rate windows, floating the naira consequently, the health of the Federation account has blossomed greatly, as there are no bogus subsidy claims that would naturally have depleted the accruals into the pool.

In addition to these, the president in his inaugural speech, promised to make his industrial and economic policy one that will remove hurdles in the way of businesses. As a follow up to that, he set up a committee which worked so hard with other stakeholders to bring about the new tax laws that will go into effect from January next year. This is the best thing that has happened to Nigeria’s fiscal ecosystem since independence in 1960. The president has fulfilled his promise to make businesses flourish by removing all burdens and hurdles. This has been done with the new tax laws which will eliminate multiple taxes.

The president said we should not have more than single digit tax types and that has been achieved now. The various tax laws which are scattered in several legislations have now been consolidated and streamlined into a single document. Tax is not easy to collect anywhere in the world and it will be made more difficult if taxpayers go through unnecessary hurdles before they can pay taxes. The fact that these laws were scattered in various legislations gives room for different applications and make compliance cumbersome. But all that is history now.

Perhaps the biggest deal for Nigerians is that food, education, shared transportation, agriculture are going to be VAT-free. This will have positive effect on more than 80 percent of Nigerians. This is in addition to the tax adjustment of personal income of those in the low-income brackets. Small businesses with turnover of N50 million will not pay tax. All these go to show that President Tinubu is a compassionate leader who knows there the shoes pinch for businesses. A more business-friendly environment has now been created with these new laws.

As an agency, FIRS has grown in leaps and bounds in the last two years. Carrying out the president’s mandate, we re-structured our internal operations from the functional tax typologies to a customer-centric approach. Now, all tax types are paid at a one-stop shop. How do I mean? We put the taxpayers into the emerging tax, medium and government tax as well as large tax buckets. The categorisation is done according to the turnover thresholds of the companies, with those having turnover of N5 billion and above in the large taxpayers’ bucket.

What this means is that these companies pay all the tax types they need to pay at a single tax office which caters for their categories. We no longer have a situation where several offices or units are writing to the same company and asking for different things about the VAT or CIT and so on. This has engendered a shift in the mental geography of our staff and has seen a transition to a Federal Inland Revenue Service that is customer-focused. We are service providers to the taxpayers rather than coming across to them as a tax law enforcement agency.

Non-oil tax revenue has grown exponentially and for the first time in a long while, we met and surpassed our oil and gas tax revenue target for this year, thanks to the improved security situation in the country which has energised the oil companies to grow and make profits.

Do you think the economy has really turned the corner? Critics say much has really not changed for the country and its citizens since the president took over in 2023.

Even you journalists know that it will be inaccurate for anyone to come with such claims. Yes, the removal of subsidy on petrol created some disruptions in the living conditions of most Nigerians. Transportation costs went up, as did prices of goods and services. The disruptions can be likened to the pain of a woman in labour. After she is delivered of the baby, comfort and bliss will follow.

To cushion the effect, President Tinubu came up with the compressed natural gas initiative which has seen millions of vehicles converted from petrol to CNG. CNG buses were also procured and distributed to states. From the height that it went earlier in the year, petrol price is coming down. Don’t forget that we also came up with the crude-for-naira initiative which is helping local refiners get access to crude oil in naira. The exchange rate that went up is also coming down.

The FX market has navigated away from arbitrage which used to be the order of the day.

Foreign airlines and others were owed $7 billion by Nigeria. President Tinubu came and cleared the debt. About 90% of revenue was devoted to servicing debt, but the rate has gone down to about 50% in two years. The tax-to-GDP ratio was 10% when we took over, now it is 13.5%. But that is not where we are going. We are aiming to beat Africa’s average of 15% and achieve 18% by 2027. External reserves have climbed up to $41 billion. The Nigeria Education Loan Fund (NELFUND) created by President Tinubu has seen almost N90 billion disbursed to over 450, 000 students across the country.

There are many road projects going on and some completed across the country, covering all the six geo-political zones. These roads are opening up economic corridors across the country.

Federal allocations to state have grown by almost 70%, enabling them to enjoy a great level of fiscal stability and debt management. According to the figures from DMO, about 30 states repaid N1.85trillion in debt over 18 months. We should keep these figures in perspective when x-raying this administration.

What is the truth about this 5% surcharge on petrol?

The problem with the people bandying this about is either that they don’t read or they read but do not understand. In my earlier comments, I said there were many laws about taxes which were scattered in various legislations, making compliance difficult for taxpayers. To remove the burden, we harmonised these laws into a single document and one of such laws is the petrol tax. The law had existed under the FERMA Act 2007 and the purpose was to use the money therefrom for road maintenance. The new law lays down the procedure for this provision to come into effect. There must be a commencement order from the minister of finance which will be publicly announced and also gazetted. So, it does not automatically mean that this provision will go into effect from January next year.

Remember, one of the first set of reliefs President Tinubu brought to Nigerians was to remove 7.5% VAT on diesel. Is it that same president that will now impose additional cost on petrol for the citizens at this time?

Why was FIRS changed to Nigeria Revenue Service and what should taxpayers expect from the agency when it goes full throttle next year?

Let me start from what the taxpayers should expect from us. They should expect a fair tax administration that will also come without hassles. Our core mandate is simple: assess, collect and account for revenue accruing to the Federation. In doing this, we will be fairer as a tax authority and continue to provide quality service to our only customers, that is, the taxpayers. The president has done a lot in bringing reliefs to Nigerians and businesses with the new tax laws. Compliance should be easier now and of course our advocacy has been on voluntary compliance. Do the right thing at all times and don’t wait till our tax people visit your premises. If they have any issue, they should get in touch with us. With the new tax laws, evasion will be pretty difficult. Companies should be diligent in their tax planning. Those who still think they can find a way to game the system will find out that evasion or trying to cut corners will be costlier than being compliant and honest.

There is one proverb in my language, ‘If the main course is not satisfying, there is nothing anybody can give you as a gift that will be enough.’ So, if within, we cannot develop Nigeria, nobody will come and develop it for us.

President Tinubu’s mantra has always been: ‘I’m not here to tax poverty; I’m here to tax prosperity. My government will tax the fruits of your investments and not the seeds.’ When companies are doing well and are making profits and are expanding their operations, we will benefit from their doing well.

The tax rate is simple. If the base is 10, we will have three. If the base increases to 20, we will have six. If the base increases to 30, we will have nine. So, if I want to have more, it’s not by going on an aggressive revenue drive. It is to help the companies to do well and that is when I will do well too. So, that is why, for us at Nigeria Revenue Service, we are here to remove all the hurdles in the way of our taxpayers. This is what President Tinubu has done with the new tax laws. He has fulfilled his electoral promise and we should all commend him for being a promise keeper.

On why we are changing from Federal Inland Revenue Service to the Nigeria Revenue Service, the word federal in the name of the agency gives the erroneous impression that we are only collecting tax revenue for the federal government. When you say ‘Inland’, it wrongly means we are only collecting money from Nigeria, which is not what we are doing. I will give you examples. We collect VAT, 90% of which is for states. When you therefore say ‘federal’, it means we are not representing what we do. The new name, NRS, shows we are the sole tax authority for all revenue collection for the Nigerian federation according to our laws.

Mainstream Energy Solutions Limited (MESL), in a bid to advance the Nigerian energy landscape, has signed an agreement with Granville Energy (PTY) Limited to design, build, finance, and operate a 100 megawatt (MW) floating solar power plant at the Kainji hydro power plant.

Speaking during the signing ceremony in Abuja on Tuesday, Sani Bello, Chairman, Board of Directors, Mainstream Energy Solutions, said that the project is a significant step forward in the company’s mission to transform Nigeria’s energy landscape.

He explained that when fully operational, the project will provide thousands of Nigerian homes and businesses with clean, reliable energy, supporting economic development while minimising environmental impact.

‘We are proud to partner with Granville Energy (PTY) Limited to design, build, finance, and operate a 100MW floating solar power plant at the Kainji hydro power plant. This pioneer project embodies our unwavering commitment to increasing power generation in Nigeria while promoting sustainable and environmentally friendly solutions.

‘As an organisation. We have consistently demonstrated our commitment to renewable energy, aligning this with our mission statement and the focus areas of our Corporate Social Responsibility interventions. This MOU signing is a testament to our resolve to drive positive change and contribute to Nigeria’s economic growth.

‘This aligns perfectly with our core objective: powering Nigeria’s economic growth in an environmentally responsible manner,’ he said.

In his remarks, Abba Aliyu, Managing Director, Rural Electrification Agency (REA) noted that Nigeria currently have the highest number of people without electricity, with most of these people located in the rural and urban areas of the country.

For him, the most economically viable means of providing them with electricity is through distributed renewable energy, through the deployment of renewable sources.

‘For us to have an opportunity where 100 megawatts of renewable energy can be injected into the grid, for us, this is a huge and significant increase in the renewable mix of the country. I will say that apart from the Azura, which was 450 megawatts that was added as a Greenfield, and Zungeru, which mainstream is very much active in managing that, there is no significant renewable capacity that has been added to the grid.

‘Initially, the Rural Electrification Agency is currently working on injecting about 188.4 megawatts through interconnected mini-grids, one of which we intend to be the first to will do the floating solar in the University of Lagos, where we will put the panels by the side of the lagoon to power the University of Lagos.

‘But definitely, the commitment of the mainstream and the partners, Granville Energy, is something that the federal government will always have pleasure in and will always key into it.

He said that Nigeria needs to increase the generation capacity, hence the need to deploy more renewable resources and an innovative model like this that harnesses the space around the hydro and creates a floating solar.

He also advised the companies that the project should come with its own distribution network, SCADA system, and full meters to enhance the commercial viability of the project, adding that without these, the commercial viability of the renewable project can never be sustained.

‘This is an ingenious, complex framework that must be encouraged, and for the Rural Electrification Agency, we would like to be part of this initiative, key into it, support it, and in any way also learn from how we will do that, how we will deploy it at this level of capacity,’ he added.

Also speaking, Tabi T. Tabi, Chief Executive Officer, Granville Energy, said that the MOU commits both parties to the development of the Kainji Floating Solar Plant, which is intended to reach a total capacity of 1,000 megawatts (1 Gigawatt).

He explained that the immediate focus is the rapid deployment of phase one, which will add 100 MW of hybrid renewable power to the grid. ‘This multi-gigawatt vision is a testament to what is possible when two African giants-Nigeria and South Africa-collaborate,’ he said.

Tabi noted that by deploying high-efficiency solar panels directly onto the surface of the Kainji reservoir, the project will deliver a powerful hybrid system. This synergy, he said, ensures that when the sun shines brightest, it generates solar power; and when it sets, or when water flow fluctuates, the stabilised output of the hydro plant and the power from the battery energy storage systems step in, providing consistent, reliable power to the national grid.

‘Floating solar is a win for water management. By covering a section of the reservoir, we drastically reduce water evaporation-a critical benefit for a nation balancing energy production with agricultural and domestic water needs.

‘This first 100 MW phase is the down payment on a larger vision that will, upon completion, provide 1,000 MW of new, clean capacity, dramatically cutting carbon emissions and cementing Nigeria’s commitment to the goals of the Paris Agreement and its long-term climate targets,’ he said