Nigeria at 65: 11 times Nigeria stood out on the global scene

Sixty-five years(65) is no small journey. For Nigeria, it is a story stitched together by resilience, culture, and a spirit that refuses to go unnoticed. Every Independence Day comes with reflection: the struggles, the progress, the imperfections, but it also reminds us of how often Nigeria has turned the world’s gaze in its direction.

It is in the aromas of our food that now cross oceans, the beats of Afrobeats that fill arenas thousands of miles away, the strokes of Nigerian artists commanding millions in London auctions, and the moments when athletes, filmmakers, or leaders have written Nigeria’s name into global history. These are not just flashes of fame; they are milestones of identity, pride, and influence.

As Nigeria marks 65 years of independence, here are eleven times the country stood out on the global scene.

Leadership

1. Dr Ngozi Okonjo-Iweala becomes the first woman and first African to lead the World Trade Organisation (2021)

In March 2021, Nigeria’s own Dr Ngozi Okonjo-Iweala made global history when she assumed office as the Director-General of the World Trade Organisation (WTO). Her appointment was not only groundbreaking as she became the first woman and the first African to hold the role, but also a testament to her decades-long career in international finance, economics, and development. Known for her fierce intellect, reform-driven leadership, and unwavering commitment to equity in trade, Okonjo-Iweala’s rise reinforced Nigeria’s influence on the world stage and inspired millions across Africa.

Food

1. Hilda Baci breaks the Guinness World Record for longest cooking marathon (2023)

On Monday, 15 May 2023, at 7:45 am, Nigerian chef Hilda Effiong Bassey, popularly known as Hilda Baci, made history in Lagos by breaking the Guinness World Record for the longest cooking marathon by an individual. She surpassed the previous record set in 2019 by Lata Tondon of India (87 hours 45 minutes), reaching an extraordinary 93 hours and 11 minutes. This feat trended globally, putting Nigerian cuisine at the centre of international conversations.

2. Adejoké Bakare becomes the first black woman to receive a Michelin star in the UK (2024)

In 2024, Nigerian-born chef Adejoké Bakare made history as the first Black female chef in the United Kingdom to be awarded a Michelin Star for her London restaurant, Chishuru. Celebrated for its modern take on West African cuisine, Chishuru’s menu draws heavily from Bakare’s Yoruba heritage, with dishes such as pepper soup, fermented rice pancakes, and grilled meats presented with refined, contemporary flair.

3. Hilda Baci sets record for the largest serving of Nigerian jollof rice (2025)

On 12 September 2025, during the World Jollof Festival in Lagos, Hilda Baci once again put Nigeria on the map. Partnering with Gino Nigeria, she prepared asun jollof rice over a nine-hour period, creating a staggering 8,780 kilograms (19,356 lb 9 oz) of the dish. Officially recognised by Guinness World Records, it was celebrated as the largest serving of Nigerian-style jollof rice ever made.

Music

1. Wizkid Sells Out London’s O2 Arena Three Nights in a Row (2021)

In November 2021, Nigerian superstar Wizkid became the first African artist to sell out the London O2 Arena for three consecutive nights during his Made in Lagos tour. The first show sold out in 12 minutes, the second in just 2 minutes, and the third followed quickly due to overwhelming demand. The feat cemented Wizkid’s status as a global Afrobeats ambassador, proving the genre’s growing influence on the world stage.

2. Tems becomes first Nigerian female artist to sell over 10 million units in the US (2025)

On Tuesday, 30 September 2025, Temilade Openiyi, professionally known as Tems, reached a historic milestone by becoming the first female Nigerian artist to sell over 10 million units in the United States. The confirmation came from Chart Data on X (formerly Twitter). The achievement centres on her collaborative single ‘WAIT FOR U’ with American stars Future and Drake, which officially crossed the 10 million sales mark. This record-breaking feat cements Tems’ position as one of Nigeria’s most successful global music exports.

Culture and creative arts

1. Ikorodu Bois take Nigerian creativity global (2020-2021)

The Ikorodu Bois, a Nigerian online comedy group, have carved a niche for themselves by recreating multi-million dollar Hollywood trailers, music videos, and photos with everyday items and pure ingenuity. Their viral re-enactments caught the attention of international filmmakers, including the Russo Brothers, who invited them to the premiere of Extraction 2. In 2021, their influence went even further when they were featured in a Netflix Oscar Weekend Film Brand Campaign, showcased on the giant screens of Times Square, New York City. This came after Netflix gifted them professional filming equipment in recognition of their unique talent.

Nollywood

1. Nollywood recognised as the world’s second largest film producer (2009)

In 2009, Nigeria’s film industry achieved a landmark recognition when the United Nations Educational, Scientific and Cultural Organisation (UNESCO) declared Nollywood the world’s second largest film producer, officially edging out Hollywood from the position. Only India’s Bollywood remained ahead. The announcement, made simultaneously at the UN headquarters in New York and UNESCO’s office in Paris, followed a global cinema survey by the UNESCO Institute of Statistics.

2. ‘Mami Wata’ makes Nollywood history at Sundance (2023)

In 2023, Nollywood achieved a historic milestone with the premiere of ‘Mami Wata’, a black-and-white fantasy thriller directed by CJ Obasi and produced by Oge Obasi, at the Sundance Film Festival – the world’s largest indie film festival. This was the first time a Nigerian feature film screened at Sundance, signalling Nollywood’s growing relevance on the global stage. The film went on to secure major accolades, including the 2023 National Film and Video Censors Board (NFVB) Award, and achieved even greater recognition when it earned an Oscar nomination for Best International Film in 2024.

Sports

1. Chioma Ajunwa Wins Nigeria’s First Olympic Gold (1996)

At the Atlanta 1996 Olympics, Chioma Ajunwa made history by leaping 7.12m to win the women’s long jump, becoming Nigeria’s first and only individual Olympic gold medallist. She was also the first Black African woman to win Olympic gold in a field event. Ajunwa’s legacy is even more remarkable as she remains the only woman to have competed at both the FIFA Women’s World Cup as a footballer and the Olympics as a track and field athlete.

2. Tobi Amusan Becomes Nigeria’s First World Athletics Champion (2022)

On 24th July 2022, Tobi Amusan made history in Oregon, USA, becoming the first Nigerian athlete to win a World Athletics Championship gold medal. Competing in the women’s 100m hurdles, she not only secured victory but also shattered the world record with a time of 12.12 seconds in the semifinal, before clocking a wind-assisted 12.06 seconds in the final. Her triumph was celebrated worldwide, with the International Federation of Athletics (World Athletics) and FIDA (International Federation of Women Lawyers) hailing her as a beacon of inspiration.

Amorim faces imminent sack if Man United lose to Sunderland

Ruben Amorim’s future as Manchester United manager hangs by a thread, with Telegraph Sport reporting he could be sacked if his side suffer defeat to Sunderland at Old Trafford on Saturday.

The Portuguese coach is under intense pressure ahead of a must-win game against the newly promoted Black Cats, with United sitting 14th in the Premier League after six matches.

Last weekend’s 3-1 loss to Brentford, their third defeat of the season, has only deepened concerns among the club’s hierarchy.

A further setback on Saturday, United’s final game before the international break, could prove decisive. Co-owners Sir Jim Ratcliffe and the Glazers are said to be running out of patience, particularly with a daunting trip to league leaders Liverpool at Anfield looming after the break.

While sources insist the club are not actively lining up a replacement, Amorim himself admitted on Friday that his position will become ‘impossible’ if results don’t improve.

‘Nobody here is naive,’ he said. ‘We understand we need results to continue the project. We will reach a point that is impossible for everyone because this is a very big club with a lot of sponsors, with two owners. So it’s hard – the balance is really hard.’

Since replacing Erik ten Hag in November 2024, he has overseen just 34 points in 33 league games, the joint-worst record among Premier League ever-presents in that time, bar Tottenham. He has also failed to secure back-to-back league victories.

Sacking Amorim within his first 12 months would cost United around £12m in compensation; the club may have little choice.

Missing out on European football again would represent a financial hit of more than £25m in prize money and further damage their long-term ambitions.

Transforming Campus Life: Renewed Hope Student Housing Programme makes strides

Family Homes Funds Limited (FHFL), in partnership with the Federal Government of Nigeria, the Tertiary Education Trust Fund (TETFund) and Africa Plus Partners Nigeria Limited is set to deliver on Mr. President’s promise to transform student accommodation nationwide through the Public Private Partnership (PPP) Renewed Hope Student Housing Programme.

The Renewed Hope Student Housing Project is a Public Private Partnership initiative of His Excellency Bola Ahmed Tinubu GCFR that is set to improve the living standards and revitalise infrastructure across Tertiary Institutions in the country with a plan to deliver 38,400 world class student hostel bed spaces across a total of 24 locations: 12 Universities, 6 Polytechnics and 6 Colleges of Education.

The Renewed Hope Student Hostel Project in each of the 24 locations will boast 1,600 bed spaces, 400 ensuite rooms with study table and chairs, four reading rooms, common room, cafeteria and restaurants, laundromat, grocery shops, salons, public toilets etc.

The Pilot project in University of Calabar has already been delivered by Africa Plus Partners Nigeria Limited.

Currently, the project has commenced in a total of six locations across the country with even distribution of three locations in Northern Nigeria (Ahmadu Bello University Zaria, Federal Polytechnic Bauchi and FCT College of Education, Zuba) and three locations in Southern Nigeria (Sikiru Adetona College of Education Science and Technology Ogun, Akwa Ibom State University and College of Education, Warri).

The College of Education, Warri hostel and the Akwa Ibom State University are now nearing completion and almost set for commissioning. Each 1,600-bed facility, built to international standards, will soon open its doors to students, offering safe, affordable, and modern living spaces designed to support academic excellence.

This milestone marks a historic step toward addressing one of the most pressing challenges facing Nigeria’s higher education system which is the lack of adequate student housing.

Beyond these two sites, four other institutions are already recording visible progress under the programme. From Federal Polytechnic, Bauchi, to Sikiru Adetona College of Education, Science and Technology Ogun, FCT College of Education, and Ahmadu Bello University, construction is advancing at different stages, each moving closer to completion. Together, these sites reflect the Renewed Hope Agenda of Mr President and Family Homes Funds Limited commitment alongside TETFund and Africa Plus Partners to ensuring that students everywhere can access decent accommodation.

With a national student population exceeding 2.1 million in public tertiary institutions, less than 15 percent have access to on-campus housing, the Renewed Hope Student Housing Programme is yet another game changing, timely and ambitious intervention by Mr President.

By creating purpose-built hostels that are safe and affordable, the programme is:

reducing the stress and risks of inadequate off-campus housing,

promoting better academic outcomes,

creates jobs and boosts local economies and attract private investment in education.

Speaking on this milestone, Abdul Mutallab Mukhtar, Managing Director of Family Homes Funds Limited, said: ‘This upcoming commissioning of the first two locations in Warri and Akwa Ibom are a landmark achievement not just for FHFL but for Nigeria’s higher education system, by providing modern, safe, and affordable hostels, we are ensuring that students have the right environment to live and learn, while reducing the stress and risks associated with inadequate accommodation.’

As commissioning in Warri and Akwa Ibom approaches and progress continues nationwide, the Renewed Hope Student Housing Programme is steadily reshaping the face of campus life in Nigeria. Family Homes Funds remains committed to delivering safe and affordable hostels across the six geopolitical zones, ensuring that more students can look forward to studying and living in an environment that supports their growth and success.

Programme nearing commissioning (Dec 2025) include College of Education, Warri and Akwa Ibom State University

Projects under construction (Commissioning Sept 2026) are Federal Polytechnic, Bauchi; Sikiru Adetona College of Education, Science and Technology, FCT College of Education, Zuba and Ahmadu Bello University, Zaria

Next Phase projects (Starts Oct 2025, Commissioning Oct 2026) include Federal Polytechnic, Nekede, Ebonyi State University, Enugu State University of Science and Technology, Hassan Usman Katsina Polytechnic, Federal University, Lafia, Benue State University, Makurdi, Abubakar Tafawa Balewa University and Gombe State University.

Meet five sports stars shaped by their fathers’ influence

When we celebrate sporting legends, the spotlight often shines only on the athletes – the medals, records, trophies, and the tears on podiums. What’s less visible, but equally powerful, is the steady hand that guided them long before the world noticed. For many of the greatest athletes of our time, that hand belonged to their fathers.

A father’s love in sports is not always soft. Sometimes it comes through tough discipline, relentless training schedules, or personal sacrifices. At other times, it means saying no today so a child can say yes to greatness tomorrow.

Behind Tiger Woods, Lewis Hamilton, Serena and Venus Williams, Floyd Mayweather Jr., and Stephen Curry are fathers who spotted potential before the world did. They believed, pushed, and sacrificed – and in doing so, shaped champions.

Here are five sports stars whose fathers played a defining role in their rise to greatness.

Earl Woods and Tiger Woods

Before Tiger Woods could even walk properly, his father, Earl Woods, had already put a golf club in his hands. Earl, a former Green Beret who served in Vietnam, treated his son’s training like a mission. He claimed Tiger was swinging a club at nine months old. By age two, Tiger was dazzling television audiences, and at three, he appeared on The Mike Douglas Show, sinking putts alongside Bob Hope.

Earl’s methods were unorthodox but effective. He toughened Tiger with military-style drills – rattling change during his backswing, tossing distractions, or locking him with a stare. When Tiger asked him to ‘make me tough,’ Earl warned, ‘You’re not going to like it.’ But Tiger trusted him, and together they built the mental edge that became as iconic as his swing.

The results: 15 major championships, 82 PGA Tour wins, the first Black man to win the Masters, and a career that redefined golf. At just 21, Tiger signed a $40 million Nike deal and won the Masters by a record 12 shots. The embrace he shared with his father that day – Earl fresh from heart surgery, remains one of golf’s defining images.

Tiger later described Earl as his ‘best friend and greatest role model.’ More than a coach, Earl was the architect of a legend.

Anthony Hamilton and Lewis Hamilton

For Lewis Hamilton, the seven-time world champion, the journey to the top was powered by his father, Anthony.

Anthony juggled up to four jobs, vending machine repairs, IT shifts, and even mortgaging the family home, to fund Lewis’s karting career. In a sport dominated by wealthy families and elite pit crews, the Hamiltons often stood out as the only Black family at the track.

But Anthony gave Lewis something money couldn’t buy: resilience. He built his son’s karts in their garage, hand-painted his helmet so he could spot him in the pack, and drilled into him the mantra: ‘Do your talking on the track.’

The sacrifices were immense. ‘At one stage, he had four jobs just to keep us go-karting,’ Lewis recalled. That belief paid off: Lewis now holds more wins and pole positions than anyone in history, tied with Michael Schumacher on world titles.

Their relationship had rocky moments; Lewis even split with his father as manager to gain independence, but the bond endured. ‘He was there from day one,’ Lewis says. ‘He knows what it took.’ Anthony never drove the cars, but his vision powered every lap.

Richard Williams and the Williams Sisters

Few stories of sporting parenthood are as legendary as Richard Williams and his daughters, Venus and Serena. Long before they were born, Richard had written a 78-page plan detailing how they would become tennis champions. People laughed at him, but he went to work.

In Compton, California, the courts were often dangerous. Richard fended off gangs so his girls could practice. Money was tight, but his belief was unshakable. He called Venus and Serena ‘the number one girls in the world’ before they could even grip a racket.

When a reporter once grilled a young Venus, Richard cut him off: ‘You’re dealing with a little Black kid. She said she’s confident. Leave that alone!’ That fierce protection matched his vision.

The payoff was historic: Serena with 23 Grand Slam singles titles, Venus with seven, 14 doubles titles together, and three Olympic golds. Beyond the trophies, they transformed tennis, showing the world that two Black girls from Compton could dominate a sport that had often excluded them.

‘Who would have thought he could raise two Black girls to play a sport that African Americans haven’t typically done well in?’ Serena reflected. ‘Every time I stand out there, I think I wouldn’t be here if somebody didn’t have that vision for me.’

Floyd Mayweather Sr. and Floyd Mayweather Jr.

In Mayweather’s household, boxing was a family trade. Floyd Mayweather Sr., a fighter himself, started training his son almost as soon as he could walk. By five, Floyd Jr. was already jogging miles alongside his father.

Mayweather Sr.’s own career fell short, and a prison sentence kept him away for years. But when he returned, he poured everything into ensuring his son’s success. ‘My father hustled to give me a better life, and I love him for that,’ Floyd Jr. said. ‘I learned from my dad’s mistakes.’

The result was a career without blemish: 50-0, 15 world titles across five weight classes, and record-breaking earnings that made Floyd Jr. the richest fighter in history.

Dell Curry and Stephen Curry: Quiet Fundamentals

Not all sporting fathers bark instructions or enforce military-style regimens. Some, like Dell Curry, let their example do the talking.

Dell spent 16 years in the NBA as a steady shooter. When his sons, Stephen and Seth, showed interest, he taught them the basics, the shot, the work ethic, the professionalism, and then stepped back.

Stephen, undersised and often overlooked, relied on that foundation. ‘I taught my boys the fundamentals of the game and fundamentals of the shot,’ Dell said. He kept it simple.

Stephen Curry became a two-time MVP, four-time champion, and the player who changed basketball with his three-point shooting. Millions of kids now copy his shot, but the roots trace back to long evenings in the gym with his father.

Digitisation, policy reforms drivers of Africa’s retail growth – FoodCo

Stakeholders in Africa’s retail industry have been advised to prioritise digitisation, skills development, and policy advocacy. These are seen as key enablers of sustainable growth in the sector.

Ade Sun-Basorun, Chief Executive Officer of FoodCo Nigeria, gave the charge during a courtesy visit by a delegation from the Africa Retail Academy (ARA) to FoodCo’s head office in Ibadan. He was represented by the company’s Chief Commercial Officer, Funmi Aiyepeku. Sun-Basorun said technology and innovation remain critical to scaling formal retail across the continent.

‘While modern retail is undergoing different stages of evolution across Africa, what we can all agree on is that there are huge opportunities to scale the sector,’ Sun-Basorun said. ‘If critical players can leverage technology, innovation, and local intelligence to bridge existing gaps, we will begin to see the formal retail sector unlock its full potential and make meaningful contributions to the economy.’

He reaffirmed FoodCo’s commitment to deepening collaboration with ARA. He said this would focus on talent acquisition, capacity building, and advocacy.

Also speaking, Professor Uchenna Nzegwu, Head of Marketing at the Lagos Business School and Chairman of the 2026 ARA Congress, commended FoodCo for its four decades of contribution to Nigeria’s retail industry. He praised the company’s efforts in promoting gender inclusivity, innovation, and customer service excellence. He also called for stronger collaboration among stakeholders to make Africa’s retail sector globally competitive.

FoodCo was founded in 1982. It is a diversified consumer goods company with interests in retail, restaurants, manufacturing, and entertainment. The company operates 23 outlets across Ibadan, Lagos, and Abeokuta and employs over 1,200 people. It has also been recognised by the Financial Times as one of Africa’s fastest-growing companies in 2021, 2023, and 2024.

The Africa Retail Academy, an initiative of the Lagos Business School, is the continent’s largest community of retail practitioners. It also hosts the annual Africa Retail Congress, which attracts more than 5,000 operators, investors, and academics.

Nigeria at 65: Mortgages can break the cycle of rent and homelessness, Ashiru-Balogun says

For many Nigerians, freedom means more than the waving of green-and-white flags. At 65, the nation still grapples with an independence dream left unfulfilled, a home to call their own.

Nigeria’s housing deficit has swelled to more than 28 million units, according to developers and government estimates. In Lagos, where rent can swallow half a family’s income and landlords raise prices without notice, the weight of that gap is deeply personal.

Families cram into single rooms. Young couples delay marriage. Workers earning the new ?70,000 minimum wage see their paychecks vanish before rent day.

Against this backdrop, a different kind of independence story unfolded in Ogudu on October 1. Terra Developers, a Lagos-based firm, opened the gates of Olivia Gardens, a housing estate it says will put homes within reach of middle-income earners.

‘Gone are the days people will pay 100 million cash to buy a house,’ said Kola Ashiru-Balogun, the company’s managing director. ‘That is not affordable, that is not sustainable.’

Instead, the firm is leaning on mortgages, some offered at 6.5% under the National Housing Fund, to turn buyers into owners. Ashiru-Balogun called it ‘a chance for first-time buyers to step onto the housing ladder.’

The Squeeze of Survival

The reality of Lagos real estate is brutal. In upscale districts, homes sell for ?400-500 million ($270,000-$335,000), far beyond the reach of average workers. Inflation, slightly above 20 percent, has only widened the gap.

‘Many people were priced out,’ Ashiru-Balogun admitted. ‘But things are stabilising now. Mortgages are the way forward.’

Industry players share his optimism. Ayodele Olowookere, head of Imperial Homes Mortgage Bank, reminded would-be buyers that housing is one of the few investments that grows even in crisis.

‘If you had bought a home three years ago for ?40 million, today it would be worth nearly ?100 million,’ he said.

‘Waiting means losing.’

Buyers, he explained, can now pay as little as 10-30 percent upfront and stretch payments for up to 20 years.

Shelter Beyond Ownership

Still, not everyone can borrow. Millions earn too little or work in informal jobs. For them, even talk of a mortgage feels remote.

Ashiru-Balogun acknowledged that truth and pushed for rent control. ‘It’s not everybody that will buy a house,’ he said. ‘Let the government step in to protect renters.’ He suggested yearly rent hikes be capped at 3-5 percent, to give tenants breathing room.

That call struck a chord with Moyosore Ogunlewe, chairman of Kosofe Local Government. ‘We’ve built roads, schools and health centres,’ he said at the event. ‘But housing is where the dignity of families begins.’

Building Blocks of Change

Terra Developers says it has delivered more than 2,000 housing units between 2021 and 2024 and plans nearly 900 more in Lagos and Abuja.

For Emmanuel Ekwe, the company’s general manager for sales, the mission goes beyond profit. ‘Every square metre we build is meant to give families not just a house, but a chance at stability,’ he said.

Hope at the Edges

The new estate will not erase a housing deficit counted in millions. Yet, for young Nigerians who have long seen homeownership as a luxury, it offers a foothold.

Balogun admits as much. ‘The project alone cannot close the gap,’ he said. ‘But for families who have long seen homeownership as an impossible dream, it offers hope.’

Arsenal vs West Ham: Gunners chase fourth straight win in tough London derby

Arsenal will look to clinch a fourth successive victory in all competitions when they host West Ham United in the Premier League on Saturday afternoon.

The Gunners head into their final match before the October international break in buoyant mood, having snatched a last-gasp win over Newcastle United before defeating Olympiacos in the Champions League midweek.

A major boost for Arsenal could be the first-time starting combination of Bukayo Saka, Eberechi Eze, and Martin Ødegaard.

Injuries have so far prevented the trio from lining up together, but Arteta may unleash them against the Hammers. Saka came off the bench to score against Olympiacos, while Ødegaard impressed with a Man of the Match display, setting up the decisive goal.

West Ham, however, have history on their side. The Irons have won on their last two Premier League visits to the Emirates, and under new manager Nuno Espírito Santo, they will be eager to frustrate Arsenal once again.

Espírito Santo began his reign with a gritty 1-1 draw at Everton and is expected to adopt a more defensive, safety-first approach to counter Arsenal’s firepower.

Key Stats

Arsenal are chasing their fourth consecutive win in all competitions.

West Ham have won their last two league games at the Emirates.

Arsenal have claimed victory in just two of their last six meetings with West Ham.

The Hammers have already conceded 14 goals in six league matches this season.

Predictions

Arsenal’s momentum, attacking options, and title-chasing ambition should give them the edge.

West Ham’s resilience under Espírito Santo may limit the scoreline, but the Gunners’ quality is likely to prevail.

Agric sector leads Nigeria’s growth as business confidence rises

Nigeria’s business environment posted modest growth in September 2025, driven largely by a rebound in the agriculture sector, according to the latest NESG-Stanbic IBTC Business Confidence Monitor (BCM).

The BCM’s Current Business Performance Index rose slightly to 107.9 points, up from 107.3 in August, signaling continued expansion in business activity.

The report attributes this improvement to a strong harvest season and relative macroeconomic stability that buoyed optimism among firms.

‘The agriculture sector, which had contracted in August, recorded a sharp rebound, rising from 95.6 to 107.3 points, marking the strongest recovery among all sectors.’

‘Crop production and forestry drove this expansion, aided by favourable rainfall, improved access to inputs, and ongoing government support. Livestock, fishing, and agro-allied activities also sustained moderate growth,’ the NESG report added.

Authors of the report disclosed that the manufacturing sector maintained expansion at 102.5 points but slowed from August’s momentum, dampened by erratic power supply, high diesel costs, and persistent input shortages.

Meanwhile, it said non-manufacturing industries, including oil, gas, and construction, eased slightly to 114.5 points, and trade slipped to 107.6 points amid insecurity and supply chain disruptions.

The services sector, however, strengthened to 108.5 points, supported by gains in finance, real estate, and professional services.

Generally, the report said the key BCM drivers to this growth include investment, exports, access to credit, and prices, with marginal gains relative to August 2025, pointing to improving sentiment in capital formation and external trade.

‘Importantly, recent improvements in cost of doing business and input prices suggest a gradual moderation of inflationary pressures on firms,’ it added.

However, NESG said this positive trend remains fragile, as financing constraints, erratic electricity supply, high commercial property costs, unclear policy signals, and persistent insecurity continue to undermine business confidence and investment appetite.

According to the report, the Future Business Expectation Index rose by 134.5 points. The trade sector led with the highest optimism (162.7 points), followed by manufacturing (158.4 points).

‘The improved outlook is driven by anticipated gains in the overall business environment, including expectations for an improved business situation, higher operating profits, a rise in production levels, increased cash flow, improved supply orders, and stronger demand conditions,’ it said.

Vegan restaurants in Lagos worth trying

Lagos has always been a city where food is celebrated with passion, and its dining scene is constantly embracing new chapters. While the city is famous for its suya joints, pepper soup spots and smoky jollof rice, there is a growing appetite for meals that are lighter, plant-forward and ethically conscious. Veganism is no longer a passing trend; it is becoming a lifestyle choice for many Lagosians, driven by health awareness, creativity, and a desire to eat differently.

Here are two of the best vegan and vegan-friendly restaurants in Lagos worth visiting

Veggie Victory

When Veggie Victory was founded in 2013, it set itself apart as Nigeria’s first fully vegan restaurant and has since become known as the pioneer of Afro-Vegan dining in Lagos. Long before plant-based food became fashionable, this spot was already experimenting with Nigerian classics in creative, meat-free ways. Located in Dolphin Estate, Ikoyi, the menu covers just about everything from local dishes to intercontinental dishes. You’ll find salads, rice plates, local soups, desserts and even fusion soups that bring a new twist to familiar flavours. Their signature Vchunks, a home-grown plant-based protein, is a favourite and often features in suya, pepper soup and stews. Prices start as low as ?1,500 for protein add-ons and go up to about ?12,000, making it a place that works for a range of pockets.

Gourmet Vegan Kitchen

Gourmet Vegan Kitchen is one of Lagos’s most popular vegan eateries, and it is easy to see why. Located in Ikoyi, the restaurant has built a reputation for its inventive menu that balances hearty indulgence with health-conscious creativity. Dishes such as the vegan mushroom burger, spicy avocado and veggie patty, and their much-loved vegan pizza have made it a go-to for plant-based diners. For those who prefer dining at home, the restaurant makes its meals available through online ordering platforms, ensuring accessibility beyond the restaurant floor. Prices range widely, with a bottle of zobo available for as low as ?2,800, while their standout veggie pizza is sold at ?13,500, a dish many reviewers describe as one of the best vegan pizzas in Lagos.

Perspectives on CBN’s plan to take full control of fixed income market

The Central Bank of Nigeria (CBN) has announced that from November 3rd, settlement of fixed income securities will migrate to the CBN. By December 1st, the Bank itself will run the trading platform. It is noted that secondary fixed income market platform is currently operated by FMDQ Group with the CBN as the largest shareholder (about 15% stake) seating at the leadership of it’s board over the last decade.

No doubt, the Central bank wanting more control of Government bonds are legitimate as they are the mainstay of monetary policy. They shape interest rates, liquidity, and confidence as the CBN want complete visibility of who is buying, who is selling, and where the money is flowing to. In my considered view this objective can be seamlessly achieved by a simple interoperability between FMDQ and CBN’s platforms. For market transparency and stakeholders’ confidence, it is advised that the investing public deserve more information on the shortcomings of the FMDQ fixed income trading and settlement system (if any) and provide clearer details on need for the planned takeover of the operation of fixed income market in Nigeria.

Again, a regulator that also becomes an operator can be likened to case of being the referee and player in a football setting. It is a known fact that investors prize independence and clarity. Once the CBN starts looking like an exchange and a settlement house, confidence will definitely take a hit. Moreover, the timing of this policy is also concerning because migrating an entire market in a matter of weeks is operationally risky at any rate. One system bug, one failed reconciliation, the market could freeze, liquidity could vanish and yields could spike leading to an avoidable confidence crisis.

Further, Government bonds are capital market instruments hence, they are under the purview of the Securities and Exchange Commission (SEC) regulation because they are listed and supervised by the SEC. Allowing the CBN operate both the trading and the post-trade functions in our financial system undermines the statutory authority of the capital market regulator. We look to see SEC’s response in the weeks ahead. Whilst the CBN is interested in control, and policy leverage, the market is propelled by trust, predictability, and rules that everyone respects. If participants feel the rules can change by fiat, they will demand a risk premium. That means higher yields for the government and more expensive borrowing for everyone else. In fact, if this process is not reversed or managed seamlessly, it has the potential of scaring away portfolio investors from the Nigerian market with profound implication on investor confidence with downside implications on key macroeconomic indicators.

Nigeria spent the last decade building an independent and vibrant market infrastructure. Thus, this latest move by the CBN risks dragging us back to the illiquidity, shallow and undiversified reality that characterized the system in pre-2014 era when the fixed income market was fully operated by the CBN. The ideal path is cooperation by strengthening oversight of FMDQ (stricter governance) and interoperability between FMDQ and the CBN platforms. Investors (local and foreign) yearn for financial markets that they can trust, that they can predict, that everyone respects the rules, and not a controlled /ordered market.