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Nigerian Pension Fund Administrators (PFAs) have acquired significant stakes in InfraCredit. The shares were purchased from MOBILIST, United Kingdom Government’s flagship public markets programme, through secondary market transaction on the NASD.

MOBILIST’s investment in April 2025 supported InfraCredit’s N27 billion or $17.7 million equity raise and listing by introduction on the NASD OTC Securities Exchange, marking its transition to a public limited company and expanding its domestic institutional investor base.

The secondary share sale extended that developmental impact by introducing five domestic institutional investors, four of whom did not participate in the initial listing.

Following regulatory approvals, Nigerian domestic institutional investors will collectively own up to 27 per cent of InfraCredit’s ordinary equity, reinforcing domestic institutional ownership of a strategically important financial institution and broadening its long-term capital base.

InfraCredit’s ownership framework was designed to evolve toward greater domestic institutional participation, a goal recognised by rating agencies including Agusto and Co., GCR Ratings, and Fitch Ratings in their 2025 assessments. Each reaffirmed InfraCredit’s ‘AAA’ national rating while noting that up to 40 to 50 per cent of its equity is expected to be held by Nigerian pension funds, insurers, and other long-term institutional investors over time.

British Deputy High Commissioner, Lagos, Mr Jonny Baxter, said United Kingdom consistently prioritises transformational investments that unlock commercial markets, citing InfraCredit as one such example, an indigenous guarantee platform which is now attracting Nigerian institutional investors.

He said: ‘To date, InfraCredit has facilitated over N300 billion in financing, valued at more than $500 million equivalent indexed at issuance, in support of infrastructure development across Nigeria. We’re excited to see this momentum continue to grow, driven increasingly by domestic capital and delivering strong returns to Nigerian investors.

A win-win where more infrastructure is built to support Nigerian businesses, and more value returned to Nigerian stakeholders’.

Chief Executive Officer, InfraCredit, Mr Chinua Azubike said the secondary transaction was a proud milestone for InfraCredit and for Nigeria’s financial markets.

He said: ‘It reinforces our long-term ownership vision that catalytic foreign investment can pave the way for sustained domestic institutional participation at scale. We are delighted to welcome four new Nigerian pension funds to our ownership base, a reflection of deepened market confidence and the growing role of local investors in financing Nigeria’s sustainable future’.

MOBILIST Programme Lead within FCDO, Mr Ross Ferguson said MOBILIST’s investment in InfraCredit proved the potential of using public markets to mobilise private – and importantly – local investment in sectors driving sustainable development and growth.

He said: ‘The programme’s exit only reinforces this potential and highlights how innovative development finance can generate impact beyond an initial investment by contributing to the creation of deeper, more liquid capital markets while recycling capital for future investments’.

Analysts said the transaction demonstrateed the catalytic role of capital from development finance actors in supporting the evolution of a sustainable domestic investment ecosystem.

With MOBILIST’s support, InfraCredit’s listing proved that infrastructure finance companies can attract institutional equity and achieve liquidity in public markets. The successful exit reflected the model championed by MOBILIST, where these actors invest early, de-risk the market, build investor confidence, and responsibly recycle capital once local investors crowd in.

It also set an important precedent about the way development finance institutions (DFIs) can approach investment in emerging markets, demonstrating that responsible, well-sequenced exits can strengthen local financial markets by transferring ownership to domestic institutional investors.

Analysts noted that capital recycling through exits ensures that catalytic public funds continue to unlock new private investments. Through its listing, InfraCredit’s strong governance standards, and transparency framework, provides a credible platform for such transitions, reinforcing confidence in the depth and resilience of emerging market capital structures.

Analysts pointed out that the transaction further highlighted the growing capacity of Nigeria’s pension and insurance sectors to take a leadership role in financing sustainable infrastructure.

By creating liquidity for InfraCredit’s shares and attracting new domestic institutional investors, it broadens market participation and institutional ownership, enhancing price discovery and trading depth on the NASD platform, whilst strengthening confidence in infrastructure as a viable and investable asset class within Nigeria’s capital markets.

Reverend Benton Opene-Luxington (Rev Benton), founder of The RevBenton Experience, has said Nigeria should undergo a national spiritual reconfiguration, one that sees leadership from a foundation of moral clarity and divine alignment. ‘Nigeria”, he said, ”has enough talent,’ but lacks integrity encoded in spirit. I’m not calling for new politics – I’m calling for new priests who can govern.’

His messages spread through language, clarity, and fire, instead of the traditional markers of denomination, celebrity leadership, or church expansion.

Benton said his platform provides spiritual awakening, prophetic clarity, and transformational leadership. With a digital content reaching millions, with more than 10 million engaging with his sermons and teachings on the social media, his influence is visible among youths and the emerging middle class, many of who said he speaks to their experience.

‘I had no name for the kind of warfare I was under,’ a follower said. ‘Benton didn’t just preach – he decoded my life.’

Rev Benton speaks in declarations, not suggestions. His language is urgent, poetic, and prophetic. In one of his most sermons, he intones:

‘You are a throne, not a target. And that’s why they came for your light.’ This and others are spiritual touchpoints with young Nigerians searching for identity and clarity in a time of cultural disillusionment and religious fatigue.

Born in Lagos, Rev Benton represents intellectual credibility and spiritual fire. He addresses a generation raised in the tension between tradition and transition – offering motivation, and spiritual tools for navigation.

The movement, known internally as The Chosen Ones, is not structured like a church. It is a digital sanctuary, a prophetic ecosystem, and a mentorship portal for those who feel called to lead beyond the pulpit. Rev Benton’s topics include spiritual warfare, narcissistic trauma, marine kingdom operations, divine purpose, and energetic protection.

He is developing a celestial university, a platform that merges ancient wisdom, psychological intelligence, and prophetic activation.

The university is aimed at those who feel called to influence systems – from governance to healing to media – through spiritual intelligence.

But his vision is not limited to platforms and programmes. Rev Benton.

Across the country, especially in Lagos, Abuja, Port Harcourt, and Benin, his messages are being shared in youth fellowships, college campuses, co-working spaces, and even within traditional churches – quietly reorienting how young Nigerians view purpose, warfare, and destiny.

His approach is unapologetically African. He references Yoruba cosmology, ancestral codes, and spiritual symbolism with fluency, but always points his audience back to their divine design.

‘I’m not here to sell escape,’ he says. ‘I’m here to activate dominion. We don’t just survive systems – we rebuild them.’

As Nigeria contends with deep questions about its moral, cultural, and spiritual future, movements like Rev Benton’s represent a possible new model. It is not about volume. It is about vibration – about establishing altars in minds, not just buildings on land.

And if the growing wave of digital testimonies, live audience growth, and private mentorship requests is any indication, the Celestial Movement is no longer a whisper.

It is becoming a current – and Nigeria is beginning to respond.

Kenya’s Benson Kipruto held off a thrilling late charge from Alexander Mutiso to win the closest New York Marathon finish in history on Sunday while compatriot Hellen Obiri smashed the course record to win the women’s race.

Kipruto took the tape in two hours, eight minutes and nine seconds to add the New York title to his previous major marathon wins in Boston, Chicago and Tokyo.

Mutiso, the 2024 London Marathon winner, finished just 0.16secs behind his compatriot after a gripping duel over the final mile.

Kipruto looked to have done just enough to lead by several metres as the finish line loomed into view in Central Park.

But Mutiso kicked for home in a sprint finish and was just fractionally behind Kipruto as he took the tape.

‘The last part was so hard, but I was giving myself morale, saying ‘Come on you, you can win it, come on’,’ Kipruto said after his victory.

‘I was pushing so hard to make sure I win.’

Kenya’s Albert Korir, the 2021 New York winner, was third in 2:08:57.

Kenyan great Eliud Kipchoge, in what is expected to be his last major marathon appearance, finished 17th in 2:14:36.

In the women’s race, meanwhile, Kenya’s Obiri produced a devastating late kick to power to victory home in a new course record time.

Obiri, the 2023 New York winner, pulled away from compatriot Sharon Lokedi with just under a mile to go to cross in 2:19:51.

Obiri’s time obliterated the 22-year-old course record of 2:22:31 set by Kenya’s Margaret Okayo in 2003.

Lokedi, the New York winner in 2022, finished second in 2:20:07 while last year’s winner Sheila Chepkirui was third in 2:20:24.

The top three finishers were all under Okayo’s old course record.

‘Amazing, it was a very good run for me,’ Obiri said afterwards. ‘We had a very strong field and I said to myself ‘let me try to do my best.’

‘In my mind I said to myself to be patient. I knew Sharon was there and she has won the New York Marathon before. I said ‘Can I be the first one to win here?”.

Dutch star Sifan Hassan, the reigning Olympic marathon champion, was sixth in 2:24:43.

Medical experts have alerted to threat of blood clots, which remain a silent but deadly cause of maternal deaths in Nigeria.

This warning came at the unveiling of Dr. Ufadime Seyi-Akinnubi Foundation, in honour of the late Dr. Ufadime Seyi-Akinnubi, a young dentist whose life of service inspire a mission to save mothers.

Dr. Odofin Taiye, consultant obstetrician and gynaecologist at Federal Medical Centre, Ebute-Meta, Lagos, described blood clots at pregnancy as ‘a silent killer’ that too often goes unnoticed until it is too late.

‘When we talk about maternal mortality, we talk about deaths related to pregnancy before, during, or within 42 days after childbirth,’ he said.

Dr. Taiye noted that venous thromboembolism, which includes deep vein thrombosis (DVT) and pulmonary embolism (PE), is a major but preventable cause of death among expectant and new mothers.

He said: ‘Pregnancy increases the risk of thromboembolism by up to 15 times. When blood clots form in the leg, they can travel to the lungs, causing shortness of breath, chest pain, or even sudden death.

‘Many of these cases are misdiagnosed or discovered too late.’

He outlined risk factors, including prolonged bed rest, Cesarean sections, infections, obesity, and lack of mobility after childbirth.

He urged both health professionals and the public to learn the early warning signs of blood clots especially painful swelling in one leg and to seek immediate medical help.

A dentist, Dr. Naboya Maria, stressed that oral health is integral to overall well-being, especially during pregnancy.

‘The mouth is the gateway to the body. If a pregnant woman cannot eat due to oral pain or infection, both she and her baby suffer.

‘Poor oral health can even contribute to high blood pressure and preterm delivery,’ she said.

She called for routine dental checks to be included in antenatal care programs nationwide, noting that in other countries, dental visits are a mandatory part of pregnancy care.

‘Dr. Ufadime started this awareness herself. She used to go into antenatal centers to teach expectant mothers about oral hygiene,’ said.

Speaking at the event, Mr. Seyi Akinnubi, chairman of the foundation and husband of the late Dr. Ufadime, described the initiative as both a tribute and a continuation of her life’s purpose.

‘My wife, losing her was the hardest thing I have ever faced. But seeing this room filled with love and support reminds me that her work is not over its just beginning. Through this foundation, we will keep her light shining by helping mothers stay safe and children smile brighter,’ he said.

At a panel discussion themed ‘Safer Mothers, Bright Smiles, Building a Bright Future’ and moderated by Mrs. Alma Karibo, speakers highlighted the link between general health, oral health, and maternal safety.

Mrs. Ame Okwudi, secretary of the foundation, recounted how the idea was born out of pain but transformed into a mission of hope.

She said: ‘As stories poured in from colleagues and patients she had helped, we knew her kindness could not end there. Even though she had access to healthcare, this still happened imagine what many women in underserved communities face.’

As part of its FIFA Forward program, the global soccer governing body on Friday inaugurated two mini-pitches in Niger as part of the FIFA Arenas project which was a historic moment in the football history of the West African country.

The two pitches situated at the CES 22 Talladje and CES 9 Harobanda primary school, both in the capital Niamey, ensures Niger becomes one of the 11 Member Associations to benefit from the initiative which has one of key projects under the FIFA Forward program.

The ultramodern sustainable facilities will provide students with a safe and inspiring space to hone their football skills, giving a ray of hope to about 10000 youth in communities within the two schools. The project is expected to impact positively and allowing youth from surrounding communities to play football ideal conditions, promoting social inclusion, personal growth, and passion for sport.

FIFA President, Gianni Infantino, has cited the project as a watershed moment for football development in the West African country.

‘Congratulations to the Nigerien Football Federation (FENIFOOT). You are part of our Starting 11-the first 11 countries to officially inaugurate their own FIFA Arena mini-pitches. You are contributing to a project capable of changing the lives of millions of children,’ Infantino said.

His declaration was echoed by Issaka Adamou, FENIFOOT President who said the landmark project will mark a new chapter for grassroots football development in the country.

‘When football becomes an educational tool, it’s a whole country preparing its youth’s future. Niger is committed to inclusive, dynamic, and civic-minded schooling through the power of sport. Integrating football into schools to strengthen civic education, social inclusion, and youth development through sport allows Niger to take a major step forward with FIFA for grassroots education and football.’

Similar views were shared by Elkhan Mammadov, FIFA Chief Member Association Officer who remarked ‘I’m delighted to see Nigerien youth inaugurate these FIFA Arena mini pitches today. These brand-new spaces offer Niamey’s children a safe and inspiring environment to play and grow through football. ‘

‘Niger holds a special place in the global football community, and I’m convinced that among today’s young players, some will follow in the footsteps of Africa’s football legends’

The FIFA Arena project is part of a global initiative to build mini-pitches worldwide, in line with the commitment made by the FIFA President Infantino at the Sustainable Sport Summit in Paris in July 2024. The project supports the United Nations Sustainable Development Goals by offering more play opportunities to children, especially in disadvantaged urban and rural areas.

The Starting Eleven code-named from the 11 players commencing a game has seen Member Associations (MA’s) such as Georgia, Thailand and Paraguay inaugurating similar FIFA Arena mini-pitches. The project is being rolled out globally with the goal of installing at least 1,000 new mini pitches by 2031.

In Africa, Niger is the third Africa country to benefit from the initiative after Algeria and recently, Liberia.

The FIFA Arena comes under the bigger FIFA Forward scheme launched in 2016, and seeks to fairly redistribute FIFA’s revenues to its 211 member associations. Dubbed the world’s largest sports development program, it is in line with FIFA’s plans to invest a record USD 5 billion in football by the end of 2026.

Meanwhile, construction of FENIFOOT’s new headquarters, funded by the FIFA Forward program, is progressing steadily as the six-storey facility will offer a professional and structured environment for football development in the country.

‘The FIFA Forward program is tangibly transforming football in all FIFA member countries. In Niger, the new FENIFOOT headquarters and mini pitches in Niamey illustrate FIFA’s commitment to making football truly global, inclusive, and sustainable by investing in infrastructure that strengthen the football landscape,’ highlighted Gelson Fernandes, Deputy FIFA Chief Member Associations Officer and Regional Director for Africa.

The state-of-the-art building aligns with FENIFOOT’s strategy to improve infrastructure, enhance working conditions for staff and regional league personnel, and expand accommodation capacity at the technical centre. With a total cost of nearly USD 4.2 million, the project is fully funded by FIFA Forward and will take at least 12 months to complete.

Founder and Convener ,Small Scale Enterprises Lab (SSE Lab), Mrs. Desola Jimmy-Eboma, has revealed that her organisation is training entrepreneurs to convert massive amounts of agricultural waste – such as stems, leaves, and seed pods – into food, packaging, and skincare products. This initiative aims to boost Nigeria’s non-oil export earnings and promote sustainable economic growth.

Global agricultural waste statistics indicate that about 30 to 40 percent of food produced is lost or wasted annually, costing the global economy nearly $940 billion. Worldwide, crop residues – the plant waste left in fields after harvest – total about 5.5 billion tons.

In an interview with The Nation, Mrs. Jimmy-Eboma said that as the nation grapples with the challenge of providing meaningful employment and entrepreneurial opportunities, there are untapped prospects in food and agricultural waste. Under proven business models, she said such opportunities can be transformed into ventures that generate economic wealth for both entrepreneurs and the country.

Speaking on the sidelines of the MBA Business Shower Cohort 2 Graduation and Business Showcase held in Lagos, Mrs. Jimmy-Eboma, who is also the convener of the event, noted that agricultural waste is packed with potential wealth for savvy entrepreneurs. She said it offers opportunities to create new forms of business and spur innovation across industries.

‘As concern about waste grows, researchers and commercial partners around the world are working to turn what’s being left behind or burned into new, useful products. By doing so, they hope not only to reduce the adverse environmental impacts of agriculture but also to provide new sources of income for farmers,’ she said.

She cited numerous untapped opportunities in the agriculture sector, such as processing fruits and vegetables that often go to waste into dehydrated products. She also highlighted the potential of overlooked resources, mentioning how banana leaves are used in some countries to make biodegradable attachments. ‘Nigeria has similar resources such as plantain sheaths that are often discarded. There are so many aspects of our resources that can be explored,’ she concluded, calling for a national drive to empower people to transform local materials into exportable goods.

Mrs. Jimmy-Eboma stressed that significant collaboration between government and institutions is essential to increase the number of SMEs and strengthen the nation’s Gross Domestic Product (GDP).

Addressing the ambitious goal of expanding Nigeria’s current 39 million SMEs, she explained that while her organisation is contributing to that effort, it cannot achieve the required growth alone. ‘I cannot single-handedly say I’m going to increase the number by X, Y, Z percent because I can’t do it alone as a hub or platform.If we have collaborations – collaborative efforts from the government with institutions – then definitely we can grow, and we can grow significantly,’ she said.

She also pointed out a critical gap in current empowerment programmes, arguing that mere skills acquisition is not sufficient for sustainable growth. ‘While many programmes train people in skills such as candle-making or confectionaries, the focus often ends there. What happens after that training session? Who teaches them the business side of that learning? Who tells them or who holds their hands to say, okay, now that you have learned all these things, how do you then turn it into a venture?’ she observed.

According to her, ‘Turning it into a venture, and not just another venture, but into bankable ventures, is actually where the real empowerment lies.’

Mrs. Jimmy-Eboma explained that SSE Lab’s approach involves helping entrepreneurs transform basic skills into marketable, distinct products. ‘For example, if someone learns candle-making, the Lab helps them differentiate their product, asking how it is going to be different from what we currently have in the market. That is how it becomes a bankable product.’

She noted that the organisation is currently working with 65 established businesses and aims to at least double that number. ‘I am looking for an opportunity where single-handedly, by the end of 2027, I would have worked with individuals to establish nothing less than 200 businesses,’ she said.

She added that Nigerian businesses have the potential to explore new product and service opportunities but require guidance in branding and addressing growth and expansion challenges.

According to her, the MBA programme gives SMEs the boost they need to embark on global trade,adding that it is designed to help SMEs overcome challenges stifling both local and international ambitions.

She explained that the accelerator supports SMEs and scale-ups at different stages of their journey, offering a three-month training focused on transforming ambition into both national and global impact.

Group Head of Retail and SME Banking , Nova Bank, Mrs. Esther Obiekwe, said the bank is committed to helping small businesses access finance to scale their operations. According to her, SMEs need access to key resources such as credit, governance, technology, and market linkages to thrive.

She noted that financial institutions gain confidence in lending to SMEs through the formalisation of records. ‘While SMEs represent a growing market, traditional lending to these businesses continues to be fraught with challenges.Secured lending requires borrowers to pledge an asset as collateral, while unsecured lending does not require collateral but often comes with higher interest rates and stricter eligibility criteria,’ she explained.

Mrs. Obiekwe added that these conditions often make it difficult for MSMEs to access loans. However, she said cash flow-based lending has recently emerged as an ideal solution to meet SMEs’ short-term borrowing needs.

The Federal Government, in collaboration with the Ebonyi State government, at the weekend sealed an illegal mining site at Ameka community in Ezza South Local Government Area of the state.

The operation followed months of surveillance and intelligence gathering aimed at curbing illegal mining and preventing revenue loss.

Officials of the Federal Ministry of Solid Mineral Development carried out the enforcement in partnership with the state government.

Speaking during the enforcement, a Chief Mine Officer in the ministry, Afolabi Taofeeq, who led the team, described the illegal operations as an economic sabotage and a denial of government revenue.

‘We are here today to ensure zero tolerance for illegalities. You can have a licence and still operate illegally within it. But in this case, everyone knows the activities here were unauthorised. The site falls under a licensed area, and this must be properly resolved,’ Taofeeq said.

The Nation gathered that the mining company involved moved into the community without the approval of residents, sparking protests by locals who accused some community members of conniving with a company to illegally take over the site.

A community leader, Emmanuel Nkoro, called for transparency in signing the Community Development Agreement (CDA).

‘We are not against the company. We are ready to negotiate, but they shouldn’t take our land by force. Some corrupt individuals went behind to collect money and sign agreements on our behalf without our knowledge. We demand fairness and proper inclusion,’ he stated.

The Ebonyi State Commissioner for Solid Minerals, Chidi Onya, assured the residents that the government would ensure due process and community participation in future mining agreements.

‘A CDA is like a pregnancy; it must be properly conceived. The right process involves the state, the Federal Government, the company, and the host community. The community must also send credible representatives to negotiate on its behalf,’ Onya said.

All equipment and assets at the site were confiscated and forfeited to the Federal Government as a deterrent to others operating without valid licences.

Officials of the Nigeria Security and Civil Defence Corps (NSCDC) and other security agencies were on the ground to enforce the shutdown and secure the area.

Players of Defence Spikers Volleyball Club of Abuja have won the Division One National Volleyball League hosted in Abia State.

This is even as Ajase Ipo Volleyball Club of Kwara and Lifecamp Volleyball Club came second and third respectively.

In the Women Division One, VIP Volleyball Club of Abuja won the League, above the Federal Fire Service of Abuja and Excelsior Volleyball Club of Abia State who came second and third, respectively.

In National Division Two men, Light Volleyball Club of Abuja won the League above Bayelsa Volleyball Club and Rhino Volleyball Club of Plateau State.

The National Division One and Two Volleyball League had 34 teams from 20 States in participation, including host State Abia, Bauchi, Sokoto, Bayelsa, Kwara, Katsina, FCT, among others.

Declaring the event closed, Abia State Governor, Alex Otti stated that his administration sponsored the Volleyball League to discover raw talents from Abia and Nigeria, and to also positively engage the Nigerian youths so that they won’t be involved in deviant activities.

Otti, who was represented by his Commissioner for Sports and Youths Development, Nwaobilor Ananaba said that the huge investment his administration made in sports facilities, made sports federations in Nigeria and Africa to give Abia hosting rights.

In his speech, Abia State Director of Sports, George Obioma challenged the winners to spring from their victories to become super stars, thanking Governor Alex Otti and the Commissioner for ensuring that the National Division One and Two Volleyball League ended without a hitch.

The President of Nigerian Volleyball Federation, Musa Nimrod, who was represented by his Vice, Adamu Tanimu, commended the organizational quality of the League.

The 15 per cent import duty on refined petroleum products has been hailed as a positive policy proposition capable of catalysing industrial expansion, conserve foreign exchange, create jobs, promote economic resilience of the country if complemented with broader industrial support measures. Welcoming the 15 per cent import duty on refined petroleum products, that is petrol and diesel-is therefore a welcome development and a progressive and corrective measure.

Besides, the 15 per cent import duty on refined petroleum imports is a modest policy support needed to protect domestic refineries such as Dangote Refinery, NNPCL refineries and emerging modular refineries to thrive, restore Nigeria’s refining capacity and reduce foreign exchange exposure.

This was the submission yesterday by the Centre for the Promotion of Private Enterprise (CPPE), an economic policy advocacy group, describing the 15 per cent import duty on refined petroleum products, as a ‘welcome development, a progressive and corrective measure.’

Examining the import duty policy on refined petroleum products in its position paper, the Group noted that the country’s excessive dependence on imports over the past few decades has weakened its productive base, eroded competitiveness and exposed the economy to external shocks.

According to the CPPE, the continuous importation of petroleum products over the past two decades has imposed immense costs on the Nigerian economy, whose consequences include sustained pressure on foreign exchange reserves, fiscal instability and the collapse of domestic refining.

Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, noted that the policy will help the country achieve industrialisation, which is said, is central to Nigeria’s long-term economic growth, job creation and national sovereignty. He insisted that countries deliberately implement protectionist policies for its industrial growth and therefore, the federal government in right to implement policies that will ensure survival, growth and sustainability of indigenous industries.

‘History and global experience show that no country has achieved industrialisation through indiscriminate trade liberalisation. The CPPE therefore advocates for strategic protectionism-a calibrated policy approach that safeguards domestic and emerging industries while building competitiveness and self-sufficiency particularly in key industrial sectors, as the foundation for Nigeria’s industrialisation drive,’ Yusuf.

According to him, an economist, sectors that enjoyed measured protection-such as cement, flour and beverages have recorded remarkable domestic growth and value addition. For instance, he explained that in flour milling, the combined import charges exceed 70 per cent, fostering backward integration and domestic capacity expansion. In agro-processing, the average import tariffs which is above 30 per cent, has stimulated local production and employment; while in pharmaceuticals, the import restrictions on selected product groups have promoted health sovereignty and encouraged local manufacturing.

He said that while concerns about short-term price increases are valid, they are transitional as the long-term solution lies not in liberalising imports but in improving domestic efficiency. Besides, he explained that as domestic industries scale up, production costs will decline, leading to price stabilisation and consumer welfare gains.

He said: ‘So in this context, a 15 per cent duty on refined petroleum products is modest, balanced and necessary to restore Nigeria’s refining capacity and fiscal resilience.

‘Exposing local industries to global competition without addressing structural constraints is not desirable and legitimate competition-it is policy-induced disadvantage. Nigerian manufacturers face high energy costs, weak infrastructure, limited access to finance, inefficient ports and complex regulatory frameworks.

‘Producers in advanced economies, by contrast, enjoy subsidised energy, efficient logistics, and low-interest financing. Without correcting this imbalance, Nigerian firms cannot compete fairly. Genuine competition requires comparable production conditions, not a contest between subsidized imports and under-supported domestic producers,’ the CPPE boss argued.

According to him, Nigeria’s prolonged dependence on imports has created deep structural distortions. The absence of effective protection and inadequate support for local producers, he insisted, has discouraged investment and led to decades of deindustrialisation.

This failure, he said, is well epitomised in the oil and gas sector given the decades of refined product importation which has drained the country’s foreign reserves, weakened fiscal stability and eroded economic sovereignty.

Urging that Nigeria’s journey to sustainable industrialisation must be anchored on strategic, time-bound protectionism, not indiscriminate liberalisation because no country has industrialised through unrestrained exposure to imports, Yusuf said the country must adopt a competition model that prioritises domestic production over import dependence, where producers can compete with fellow producers, not with importers. Besides, he advocated that both indigenous and foreign investors should be encouraged to produce locally through clear, consistent and performance-based policies. This approach, which he said has been successfully applied in the cement, flour and beverage industries, can be replicated across sectors to achieve self-sufficiency and export readiness within a decade.

Reemphasising the need for developing economies like Nigeria requires a measured degree of protectionism for industrial take-off, Yusuf pointed to the Asian countries’ success stories- China, South Korea, India and Malaysia, who built their industrial strength through inward-looking strategies during their formative decades. ‘They protected infant industries, promoted local content, and developed domestic value chains before gradually opening up to global competition. Even the United States, the world’s largest economy, has recently adopted protectionist industrial policies to bolster its manufacturing base,’ Yusuf said.

To institutionalise a balanced and growth-oriented protectionist framework, CPPE recommended that the federal government should sustain the 15 per cent import duty on refined petroleum products to protect and incentivise investment in domestic refining; complement tariff protection with industrial support policies, including low-cost financing, energy access and improved logistics to prevent price escalation; expand backward integration incentives in petrochemicals, steel, agro-processing and pharmaceuticals; strengthen monitoring and evaluation to ensure protection fosters productivity, innovation and price moderation; and transition to export competitiveness once domestic industries attain stability, ensuring protection is performance-based and time-bound.

While the CPPE admits that industrialisation is a gradual process that begins with consolidating the domestic market, progresses through regional expansion and culminates in global competitiveness, it explained that strategic protectionism provides the enabling environment for this evolution.

The Group noted that by shielding emerging industries from premature exposure to unfair competition, strategic protectionism encourages domestic investment, fosters local value addition and allows firms to achieve efficiency and scale before competing globally.

It added that for Nigeria, this approach should not be seen as ‘economic isolation or the creation of monopolies’, but should rather be seen as a ‘self-strengthening strategy to ensure the domestic economy develops sufficient capacity to compete effectively on the global stage.’

Yusuf noted that a properly designed protectionist measures deliver broad developmental dividends. These, he noted to include stimulating industrial growth and job creation; conserve foreign exchange and stabilise the naira; promote backward integration and local value addition; enhance macroeconomic and fiscal resilience; encourage innovation, technology transfer and long-term competitiveness.

Therefore, to ensure protection yields sustainable benefits, government must complement it with fiscal incentives and targeted subsidies; access to low-cost financing; reliable and affordable energy supply; strategic infrastructure investment and streamlined regulatory processes.

‘Ultimately, strategic protectionism supports national self-reliance while laying the foundation for globally competitive industries,’ Yusuf said.

Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has described the 650, 000 barrels per day Dangote Refinery as a historic step toward ending fuel imports. The group however warned that weak infrastructure could undermine the refinery’s impact.

DAPPMAN Chairperson, Mrs Moroti Adedoyin-Adeyinka, sounded this warning while appealing to government and other stakeholders in the sector to urgently address the nation’s aging petroleum products pipelines, inefficient ports and infrastructure gaps.

Adedoyin-Adeyinka , represented by Mrs Ngozi Ekeoma, Group Managing Director of Nepal Energies Limited at the just concluded OTL Africa Downstream Week 2025, made the appeal while delivering her paper on ‘Trade and infrastructure challenges in Nigeria’s downstream sector.’

She noted that Nigeria’s pipelines, ports and storage depots need urgent rehabilitation to support new refining capacity and improve supply chain efficiency.

According to her, most of the country’s pipeline network, built over 40 years ago, suffers from vandalism, under-capacity and poor maintenance.

She said these problems force marketers to depend heavily on road transport, increasing costs, delaying distribution and exposing products to risks.

The DAPPMAN leader also identified shallow drafts, congestion and cumbersome customs procedures at ports as barriers to efficient product movement.

She urged government to digitalise port operations, simplify customs processes and improve turnaround times to boost trade competitiveness.

Adedoyin-Adeyinka said the Petroleum Industry Act (PIA) 2021 provides a strong foundation for reform through the NMDPRA and the Midstream and Downstream Gas Infrastructure Fund.

However, she expressed concern over slow implementation, weak coordination and policy delays that create uncertainty for investors and limit sectoral reform. She called for a Downstream Infrastructure Implementation Taskforce within the NMDPRA to fast-track projects, harmonise tariffs, and ensure open access to facilities.

She emphasised that the PIA must move from paper to practice through transparent tariffs and effective deployment of the MDGIF to close logistics gaps.

Adedoyin-Adeyinka said new private and modular refineries in several states signal Nigeria’s move toward fuel self-sufficiency.

She warned that this progress must be supported with strategic investments to prevent future distribution challenges.

She proposed developing pipelines linking the Dangote Refinery to inland depots, expanding northern storage and building digitalised truck parks for safer operations.

On regional trade, she called for harmonised product standards within ECOWAS and AfCFTA and the creation of cross-border depots in neighbouring countries.

She added that aligning infrastructure with refining capacity could position Nigeria as Africa’s leading downstream logistics and energy hub.

Adedoyin-Adeyinka urged support through infrastructure tax credits, energy bonds and local financing to empower indigenous marketers and logistics operators.

She said domestic refining marks a turning point for Nigeria’s downstream sector but warned success depends on transparency and regulatory consistency.

‘The end of fuel imports is near. But progress depends on whether our infrastructure and policies match our refining growth,’ she said.

She added that with accountability and urgency, Nigeria could meet its fuel needs and become West and Central Africa’s energy trade hub.