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HP Inc. has unveiled a suite of artificial intelligence-driven tools aimed at transforming workflows in the architecture, engineering, and construction (AEC) industries.

The new solutions are designed to enhance collaboration, streamline project execution, and boost productivity for teams working across digital and physical environments.

‘AEC professionals have always shaped the future, but their creativity is often hindered by fragmented workflows and administrative barriers,’ said Daniel Martinez, senior vice president and division president, HP Large Format Printing. ‘HP is fast-forwarding the industry into a new era where workflows, teams, and ideas flow seamlessly between physical and digital spaces, from concept to creation.’

At the centre of the launch is the HP DesignJet T870 printer, a next-generation large-format device built for agile and hybrid teams. HP also introduced updates to its HP Build ecosystem, including mobile-enabled scanning, AI-powered vectorization, and the HP SitePrint SMR Prism, a precision layout tool that simplifies on-site construction tasks and reduces project turnaround time.

The rollout marks a significant step in HP’s broader strategy to integrate AI, sustainability, and cyber security into workplace technology as industries adapt to faster project cycles and tighter margins.

‘The world has changed, and so should the way we build and work.’ Martinez said.

While developed with AEC professionals in mind, the DesignJet T870 is also positioned for broader markets such as retail and education, where there is rising demand for compact, energy-efficient, and versatile devices. The printer supports a wide range of applications, offering faster printing speeds and improved output precision while lowering operational costs.

Sustainability remains a central feature of the new portfolio. HP said the T870 model and its associated systems are engineered to minimize material waste and reduce carbon emissions through smarter energy use and recyclable components.

Martinez said that the company’s latest innovations reflect a long-term commitment to supporting smarter, faster, and more secure ways of working.

‘Today’s announcements represent a major step forward in how professionals collaborate across offices, studios, and worksites,’ he said. ‘By eliminating friction in the design-to-delivery process, we’re helping them focus on what truly matters, designing and building the world around us.’

As construction firms face mounting pressure to deliver projects more efficiently, HP’s renewed emphasis on AI-integrated design tools underscores a broader shift in enterprise technology, where automation and sustainability are reshaping productivity standards.

Otunba Bimbo Ashiru, chairman of the National Organising Committee (NOC) of the Chartered Institute of Directors (CIoD) Nigeria, has called for stronger collaboration between the public and private sectors to promote accountability, integrity, and good corporate governance as critical drivers of Nigeria’s sustainable growth.

Speaking at the opening ceremony of the 2025 Annual Directors Conference held in Abuja which began on Wednesday, Ashiru said the event was designed to strengthen the culture of ethical leadership and corporate responsibility across sectors.

According to him, ‘The annual conference challenges directors to uphold best practices in governance. To achieve this, both public and private sectors must work together to entrench accountability and integrity at all levels.’

He emphasised that integrity remains the foundation of leadership, describing it as ‘doing the right thing even when no one is watching.’

Ashiru noted that collaboration between sectors has become inevitable, citing examples of professionals transitioning from the private to public service. ‘People in the private sector are joining government – look at the Minister of Finance, for instance. I also served as a commissioner after my career in banking. We must all see ourselves as partners in progress,’ he said.

He disclosed that subsequent editions of the conference would be hosted in different cities, including Lagos and Port Harcourt, to deepen stakeholder engagement and sustain advocacy for inclusive enterprise in Nigeria.

Delivering the keynote address titled ‘Nigeria and Africa’s Leadership Moment: From Boardroom to Nation Building – Powering Sustainable Transformation Through Enterprise,’

Kola Adesina urged African corporate leaders to extend their influence beyond boardrooms and become active participants in nation-building.

Adesina, who is chairman of Sahara Group, called for a shift in mindset where corporate governance principles such as accountability, innovation, and performance are integrated into public administration

‘Corporate prosperity without national progress is hollow,’ he said. ‘It is time the nation benefits from the wisdom that drives the boardroom.’

Using Singapore as an example, Adesina highlighted how disciplined, merit-based governance can transform national fortunes, urging Nigeria and other African nations to apply corporate discipline to public purpose. Commending President Bola Ahmed Tinubu’s ongoing economic reforms, Adesina said tough but strategic decisions – such as exchange rate unification and subsidy removal – lay the foundation for long-term national prosperity.

‘No nation can grow on populism; only on productivity,’ he said, applauding the government’s efforts to liberalise markets and strengthen public-private partnerships.

Adesina identified three priorities for sustainable transformation; Fix the Rules, Wire Inclusion into Cashflows and Build Innovation Commons.

He also stressed the need for alignment between government policies and private-sector capabilities, describing such synergy as the missing link in Africa’s development.

‘We who sit around boardroom tables hold the keys,’ Adesina concluded. ‘If each of us uses our influence to reform the rules, build inclusion, and invest in innovation, Africa will no longer be a continent of dim lights but the brightest constellation on earth.’

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that implementation of the petroleum industry Act has created strong governance structure, creating improved participation of local operators in Nigeria’s Petroleum industry.

Gbenga Komolafe, Commission Chief Executive of NUPRC stated this at the 2025 International Conference on Hydrocarbon Science and Technology, organised by Petroleum Training Institute in Abuja on Wednesday.

He explained that Africa, despite holding over 125 billion barrels of proven oil reserves and more than 620 trillion cubic feet of gas, have more than 600 million people lacking access to electricity due to poor goverance. Komolafe who was represented by Kelechi Ofoegbu, executive commissioner, corporate Services and Administration at the NUPRC, however noted that Nigeria, under the Tinubu-led administration, has charted a renewed national vision of governance built on trust, transparency and stewardship through the enactment of the Petroleum Industry Act in 2021.

‘The PIA is more than a legislation; it is Nigeria’s energy governance reform. It established a modern, transparent, and globally competitive framework that enshrines openness, efficiency, and fairness in the management of petroleum resources.

‘This commitment to transparency has also rewritten another chapter of our national story: the rise of indigenous participation in the oil and gas sector. Today, local operators account for over 30 percent of national ail output. They are building infrastructure, building and managing terminals, and creating jobs across our economy.

‘This transformation did not happen by chance. It was made possible by a level playing field: transparent licensing, access to data, fair fiscal frameworks, and regulatory consistency, all anchored in governance,’ he said.

He also stated that across flare sites in Nigeria, gas that once burned wastefully into the sky is now being positioned for full utilisation to power homes, drive small industries, and provide clean cooking energy for millions. He reiterated the Commission’s commitment to ensuring that Nigeria achieve complete end to gas flaring by 2030. ‘Through the Nigerian Upstream Petroleum Regulatory Commission’s flare gas commercialisation initiatives, the nation is making steady progress toward the Federal Government’s goal of achieving complete flare-out by 2030,’ he added

Also speaking at the conference, Felix Ogbe, Executive Secretary, Nigerian Content Development and Monitoring Board said that transparent, accountable and predictable governance systems are essential for unlocking investments and ensuring that resource wealth translates into development outcomes.

He noted that Nigeria has also undertaken key reforms through the ?PIA, providing a clearer governance framework and fiscal regime that balances investor confidence with national aspirations.

‘One of the most powerful tools for balancing growth, environment and governance is Local Content Development. Nigeria’s experience offers important lessons. Since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, the country has made remarkable progress in retaining value in-country.

‘In-country fabrication capacity has grown significantly, with major yards delivering complex offshore structures that were previously imported. Indigenous companies now own and operate a significant share of onshore and shallow water assets.

‘Over 50,000 direct jobs have been created through local content interventions. Nigeria has moved from less than 5 percent local content in 2010 to over 54 percent today in certain segments of the industry.’

This deliberate strategy, according to the executive secretary has ensured that oil and gas activities stimulate domestic manufacturing, skills development, technology transfer, and growth of small businesses.

Nigeria’s groundnut production is recovering, but poor storage and weak processing continue to limit export potential and profitability, experts say.

Output rose from 4.4 million tons in 2017 to 5 million tons in 2025, a 13.6 percent increase over the period, and is projected to grow by another 3.1 percent this year.

Despite improved yields across major producing states, weak value-addition capacity and poor post-harvest systems are preventing Nigeria from tapping into lucrative export markets.

Poor storage infrastructure has made Nigeria one of the countries with the highest aflatoxin contamination in groundnuts , often above 20 µg/kg, five times the European Union (EU) safety limit of 4 µg/kg.

Studies show 30 percent-50 percent of samples from major producing states are contaminated. Aflatoxin, a toxic mold, infects oilseeds such as groundnuts, maize, and sorghum when improperly dried or stored, according to the WHO.

Chinedu Agbaji, director of administration at the All Farmers Association of Nigeria (AFAN), said the sector’s growth is being stifled by poor storage systems and low value addition.

‘The lack of storage infrastructure and low large-scale value addition and standardization has been a major challenge impacting groundnut exports in Nigeria,’ Agbaji stated.

‘This is largely due to low output subsidy which makes small-scale farmers with fewer resources continue using poor storage practices to preserve groundnuts,’ he added.

At least 30 percent of groundnuts sold in local markets are contaminated with aflatoxins, with 25.percent-83 percent exceeding permissible levels, according to a study by Michael Vabi and his research team at the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT).

‘Contamination rates are higher in local varieties, while 87 percent-100 percent of kuli-kuli (peanut bars) consumed in Nigeria contain aflatoxins,’ the report added.

‘Long-term exposure to such contamination can suppress the immune system, worsen viral infections like HIV/AIDS, cause male infertility, liver cancer, and even death,’ the study warned.

Dennison Terkohol, a groundnut processor and aggregator, emphasised how low investments in groundnut processing is impacting the sector.

‘Processed groundnuts yield significantly higher profits than raw ones, but most of our products are sold raw, limiting sector growth’ he noted.

Despite Nigeria exporting $1.2 million worth of raw groundnuts in 2023, the sector remains import-dependent, with imports exceeding $6.6 million the same year, according to World Integrated Trade Solutions (WITS).

Key players in the domestic processing space include Olam, Gyada Oil Processing Mill, and the recently launched Arjena Foods.

Reports show that processed groundnuts can generate more than twice the profit of raw groundnuts, depending on the product and scale.

Low incentives, missed opportunities

Emmanuel Udeogu, president of the Integrated Groundnut Farmers Association of Nigeria (IGFAN), echoed similar concerns, citing how poor infrastructure and low-quality varieties cost his association potential export deals. ‘I recently tried connecting some of our members to export opportunities with investors from Tanzania and South Africa, but we couldn’t pull through due to insufficient supplies arising from these challenges and lack of high-quality varieties,’ Udeogu said.

‘Farmers get discouraged when they don’t get support, especially when trying to meet investor demands,’ he added.

Abdulrazaq Muhammad, acting national president of the National Groundnut Producers, Processors and Marketers Association of Nigeria (NGROPPMAN), said inadequate support from stakeholders continues to stall the sector’s growth.

‘Nigeria currently produces more groundnuts than it did during the famous pyramid era, but the challenge is that we are neglected, there is hardly any tangible support coming our way,’ he told BusinessDay.

Success stories from small-scale processors

Dennison (earlier quoted) shared how value addition significantly boosts returns for local farmers.

‘Roasted groundnut business is profitable as it is in high demand across supermarkets, open markets, and retail shops,’ he said. ‘I made N13,000 gross profit after roasting 4kg (one rubber paint) of groundnuts, which I sold between N2,000 and N3,000 per bottle,’ he added.

Emmanuel Oluwakemi, CEO of Kembeth Peanut Crunchy, said it’s the steady cash flow and small daily profits that keep her business going.

‘I recently started producing coated peanuts, and I’ve found it’s a daily income business,’ she said. ‘Sometimes I earn a 10 percent profit-it’s gradual, but profitable,’ she added.

Global market

The global market for processed groundnut into oil was valued at USD 10.43 billion in 2023, and it is projected to reach USD 14.14 billion by 2030, growing at a CAGR of 4.5 percent from 2024 to 2030. The surge is driven by rising consumer demand for healthier, natural cooking oils, greater awareness of groundnut oil’s nutritional benefits, and the expanding market for plant-based foods.

According to the U.S. Department of Agriculture (USDA, 2024), Brazil leads global peanut oil exports with about 140,000 metric tons, while Mali tops Africa with 19,000 MT. Nigeria ranks 11th, exporting roughly 3,000 MT.

Challenges and wayforward

Experts have identified poor coordination among government agencies and private players, weak farmer aggregation, supply chain disruptions, high input costs and low output incentives as major obstacles to Nigeria’s groundnut sector.

To address these challenges and strengthen exports, they are calling for increased agricultural investment, large-scale storage infrastructure, and improved output incentives for farmers.

‘Rather than focus solely on input incentives, we also need output incentives , particularly storage infrastructure support and access to post-harvest funds for local farmers,’ said Agbaji.

Udeogu, earlier quoted, emphasized the role of financing in boosting productivity. ‘Financial incentives could encourage more farmers and processors to do more,’ he added.

Oluwakemi noted that high input costs can be a major challenge for small-scale processors, often cutting into profit margins. ‘For producers like me, materials can be expensive,’ she said. ‘But if you have the capital, it’s better to invest in your own machines and buy raw inputs in bulk , it makes the work easier and the profits better,’ she added.

The Federal High Court in Abuja will on December 8, 2025, in the trial of Emmanuella Eteta Ita, Head of the Stakeholders Unit at the Federal Inland Revenue Service (FIRS), and her company, Surestart School Limited, who are facing charges of alleged N2 billion fraud.

Giwa Ogunbanjo, Presiding Judge fixed the date after both parties adopted their final written addresses on Tuesday, October 21, 2025.

Ita and her company were arraigned by the Economic and Financial Crimes Commission (EFCC) on a 25-count charge bordering on criminal misappropriation, diversion of funds, criminal breach of trust, and money laundering involving about N2 billion. During the proceedings, Ita’s counsel, Paul Erokoro, urged the court to dismiss the case, arguing that the EFCC failed to prove its allegations beyond a reasonable doubt.

He referenced his final written address dated December 10, 2014, and a reply filed on June 13, 2025, adopting both as the defendant’s response to all issues raised by the prosecution. Erokoro further asked the court to acquit his client and order the EFCC to refund N19.5 million allegedly recovered from Ita so she could repay her lenders.

However, prosecuting counsel, Ekele Iheanacho, countered the defence’s argument, maintaining that the prosecution had established its case beyond a reasonable doubt. He pointed the court to the prosecution’s final written address filed and adopted on January 10 and June 16, 2025, respectively, urging the court to convict the defendants accordingly.

Iheanacho also objected to portions of the defence’s reply which, he argued, attempted to re-argue issues already canvassed in their main address.

According to a statement by Dele Oyewale, Head, Media and Publicity, EFCC, after hearing both sides, Ogunbanjo adjourned the case until December 8, 2025, for judgment.

The federal government has finalised plans to invest $220 million in a new initiative designed to create employment opportunities for young Nigerians.

The programme, supported by the European Union (EU) and the United Nations Development Programme (UNDP), marks the launch of the second phase of the Nigeria Jubilee Fellows Programme (NJFP 2.0). It aims to connect high-potential graduates with practical work experience, training, and mentorship opportunities.

Vice President Kashim Shettima announced this on Wednesday while formally launching the NJFP 2.0 at the Presidential Villa in Abuja.

Shettima disclosed that the goal is ‘to bridge the transition gap between learning and earning for thousands of young Nigerians; graduates who have the education, but not always the opportunity.’

According to him, this will translate the nation’s demographic strength ‘into productive economic power, proving that when government provides structure, partnership, and purpose, young Nigerians rise to the occasion.’ The Vice President noted that while the NJFP is a Nigerian programme shaped by national priorities and guided by the nation’s sense of purpose, the administration of President Bola Ahmed Tinubu is determined to deepen the ownership by embedding the programme into government’s national planning and budgeting frameworks.

He stated: ‘This government will do its part – by ensuring that our financial commitment to the programme reflects our belief in its transformative potential. But national ownership must also mean national participation.

‘As we launch NJFP 2.0 today, I call on our partners – from the private sector, the development community, and the donor ecosystem – to join us in building the NJFP Basket Fund, a sustainable financing mechanism to secure the programme’s future.

‘Our immediate goal is to raise $220 million, not as charity, but as an investment in the nation’s most valuable asset: our young people.’

Shettima implored the EU, the UNDP and other partners to consider the flag-off of the programme as an opportunity to prove that ‘youth employment is not just a policy priority but a shared responsibility.’

He observed that when resources are pooled and intentions are aligned in the course of building together, a multiplier effect is created that benefits the nation’s economy.

He also acknowledged the contributions of the EU and the UNDP, noting that their belief in Nigeria’s youth has demonstrated what could be achieved through collaboration.

He said it was now time for Nigeria, through its public institutions, private sector champions, and philanthropic community to lead from the front, even as he maintained that inclusivity is key to driving the process. ‘As we scale NJFP 2.0, inclusivity remains at the heart of our design. We recognise that our young people are not a single story. They live in different realities, across regions, genders, and social backgrounds.

‘Therefore, this next phase will intentionally reach every corner of the country, aligning placements with the sectors that will define our economic future: agriculture, renewable energy, digital technology, manufacturing, and the creative industries.’

Shettima expressed hope that the second phase of the NJFP would turn out to be a success story ‘of how Nigeria turned its demographic advantage into a generation of productive citizens – creating jobs, building enterprises, and shaping the future of our great nation.

‘The task before us is both serious and inspiring. The young Nigerians we seek to serve are not asking for handouts – only for a fair system that recognises effort, rewards merit, and provides opportunity. They are ready to build if we are ready to back them,’ he added.

Ayodele Olawande, minister of youth development, described the NJFP 2.0 as a continuation of the federal government’s success in youth empowerment.

He noted that since the programme began in 2021, it has helped over 13,000 youths to gain skills, assuring that the initiative will build on its progress and achieve its long-term goal of placing 100,000 youths in jobs within five years.

Elsie Attafuah, the resident representative of the United Nations Development Programme (UNDP) in Nigeria, said the generous funding from the European Union and implementation support from the UNDP, over the years, are aimed at connecting potential to opportunity.

She noted that the vision behind the NJFP has come to light, resulting in over 40,000 Nigerians being placed in various economic sectors.

She stressed that millions of Nigerians need the NJFP platform to thrive in today’s economy.

Gauthier Mignot, European Union Ambassador to Nigeria, said the EU was looking forward to seeing the NJFP 2.0 programme integrated into Nigeria’s governance agenda to ensure its sustainability.

Abubakar Suleiman, while presenting the keynote address titled ‘Building a National Workforce for the Future,’ the CEO of Sterling Bank, emphasised that millions of Nigerians can perform the jobs currently being outsourced to foreign companies if they are given the right opportunities, such as those provided under the NJFP programme.

He urged relevant authorities and stakeholders not to ignore the millions of Nigerians who, without support, may never transition from graduates to gainful employment.

Over-the-counter (OTC) cryptocurrency trading has quietly become the backbone of Africa’s digital finance ecosystem, according to a new sectorial report released by Quidax, one of Africa’s leading digital asset exchanges.

The report, titled ‘Africa’s Quiet Crypto Revolution’ reveals that large-scale OTC trades, once limited to institutional investors, are now driving most crypto-related settlements across African markets.

These trades, often conducted privately between businesses, are fueling the next wave of cross-border liquidity and digital payments, the report noted.

‘Our OTC desk isn’t just facilitating crypto trades; it’s powering real-world business settlements across Africa,’ the report states. ‘For companies moving millions across borders, OTC trading is faster, cheaper, and more predictable than traditional finance.’

Unlike traditional exchanges where prices fluctuate with each trade, OTC trading allows large volumes to move quietly and securely.

This has made it the preferred channel for fintechs, importers, exporters, and global partners seeking stable, instant transactions into African markets.

According to the Quidax report, global OTC crypto volumes surged 106 percent in 2024, with stablecoins accounting for the majority of transactions.

In Africa, this growth is being accelerated by businesses using stablecoins like USDT and USDC to hedge against currency volatility and bypass slow banking systems. One testimonial from a European e-commerce company, NevaCommerce, highlighted how Quidax’s OTC desk enabled faster settlement to Nigerian partners using stablecoins instead of USD wire transfers, cutting transaction times from days to minutes.

Quidax stated that it’s building Africa’s most reliable bridge between global crypto liquidity and local business payments.

The company also offers API integrations that allow fintechs and enterprises to embed OTC functions directly into their platforms which enables automatic settlement in stablecoins or local currency.

Quidax’s findings reveal a structural shift as businesses, not individuals, are driving Africa’s next crypto wave.

The report calls OTC trading ‘Africa’s invisible financial infrastructure’ which underpins global commerce, gig economy payments, and fintech operations.

As African countries explore digital currency frameworks and fintech regulation matures, it projects exponential growth in stablecoin-settled payments over the next two years, especially in import, export and digital services.

Victor Osimhen continued his brilliant run of form with a stunning brace as Galatasaray sealed a 3-1 win over Bodo/Glimt in their UEFA Champions League encounter at the RAMS Park on Wednesday night.

The Nigerian striker, who was earlier named among the nominees for the 2025 CAF Men’s Player of the Year award, delivered a commanding performance that underlined his growing influence under manager Okan Buruk.

Osimhen opened the scoring as early as the third minute, firing home from the edge of the box after a neat setup from Mario Lemina. He doubled Galatasaray’s advantage just after the half-hour mark, pouncing on a defensive error to slot past the Bodo/Glimt goalkeeper, to become only the second player in Galatasaray’s history to score in seven consecutive European matches.

Yunus Akgun added the third goal for the Turkish champions on the hour mark to seal a convincing win, while Andreas Helmersen grabbed a consolation for the Norwegian side.

Osimhen’s brace takes his tally to nine goals in his last seven European appearances and 11 goals overall in the Champions League, further solidifying his status as one of Europe’s most lethal forwards.

The victory also extends Galatasaray’s impressive form, with 21 wins in their last 23 matches across all competitions, a strong response to their opening defeat against Eintracht Frankfurt on Matchday 1.

Cameroon’s Constitutional Council paved the way long standing leader Biya to be given another seven year term after it declined to rule on a series of petitions alleging irregularities in the October 12 presidential elections.

The constitutional council is now all but ready to announce the results of the vote.

The court doesn’t have the competence to decide on seven of the eight petitions, President of the Constitutional Council Clement Atangana said in a ruling in the capital, Yaounde, on Wednesday. It referred a petition by Bertin Kisob, the imprisoned leader of the Cameroonian Party for Social Justice, to the Yaounde Court of First Instance.

The ruling is ‘the last stage toward the proclamation of the results,’ said Cyril Ayori Njobam, a solicitor of the Cameroon Bar Association.

Petitioners including opposition and civil-society groups sought the cancellation of the Oct. 12 election after alleging various irregularities including voter harassment, the relocation of polling stations and bloated ballot tallies. The council will announce the outcome of the vote by Oct. 27. President Paul Biya, 92, who has ruled Cameroon for 43 years, is expected to secure another seven-year term in the election, positioning him to rule the Central African nation until he’s almost 100. His main rival in the race – former Employment Minister Issa Tchiroma Bakary – said after the vote that tallies posted at polling stations showed he was the clear winner – a claim the authorities have rejected

The government has deployed security forces in strategic cities to quell any protests that might erupt after the announcement of the election results by the Constitutional Council. The Union for Change, the coalition that supported Tchiroma, has urged the population to celebrate Tchiroma’s victory ‘indoors’ on Oct. 23. Soon after Tchiroma’s victory claim, hundreds of people stormed the streets and public buildings in the west of the country. A house belonging to the ruling Cameroon People’s Democratic Movement in the central town of Dschang was burnt down.

‘Democracy Hindered’

Security forces on Tuesday used tear gas to disperse protesters in Yaounde and the northern town of Garoua, where local newspapers have reported one person dead as speculation grows that the election result will favor the incumbent. Prior to Wednesday’s ruling, the Cameroonian branch of the episcopal conference of Catholic bishops – one of the organizations accredited to observe the polls – listed a number of irregularities that it said ‘seriously hinder our progress toward democracy.’

Among them were the relocation of polling stations without the prior information of voters, along with the existence of deceased people’s names on the voter roll. In addition, minutes prepared by officials from Elections Cameroon weren’t properly signed, while some of the polling stations visited hadn’t been captured on the electoral authority’s official list, it said.

Tony Elumelu, chairman of Heirs Holdings, has called on African investors to reinvest in local economies, warning that the continued outflow of capital to developed markets weakens the continent’s economic prospects.

Elumelu made the appeal on Tuesday at the opening of the 2nd Abuja Business and Investment Expo (ABIEXPO 2025) held at the Bola Ahmed Tinubu International Conference Centre, Abuja.

The event was organised by the Federal Capital Territory Administration (FCTA) through its investment arm, the Abuja Investments Company Limited (AICL).

Elumelu said Africa’s transformation must be led by Africans through sustained investment focused on local growth.

‘Make your money, but please bring it home and invest locally,’ he said. ‘It is a disservice to build wealth here and then move it to economies that are already developed.’

He urged African investors to take responsibility for shaping the continent’s economic future, stating that the agenda for development will not be determined abroad but within Africa.

According to him, ‘Africa’s economic transformation will not be written in boardrooms in Washington or London, but right here in Africa, in Nigeria, in Abuja, and it will be written by Africans.’

Elumelu also stressed the need for stronger public-private collaboration, noting that addressing poverty and unemployment requires joint action from government and business.

‘Poverty anywhere is a threat to all of us everywhere,’ he said.

Highlighting youth entrepreneurship as a key growth driver, Elumelu said the Tony Elumelu Foundation has supported 24,000 young Africans with training and a $5,000 non-refundable seed grant, including 641 beneficiaries from the Federal Capital Territory (FCT).

Nyesom Wike, minister of the Federal Capital Territory (FCT), called on local and international investors to take advantage of the opportunities in the nation’s capital to drive growth and development. Represented by Mariya Mahmoud, the minister of state for the FCT, Wike reaffirmed the administration’s commitment to making Abuja not just the political capital of Nigeria but a model of sustainable economic growth on the continent.

‘As Abuja symbolizes Nigeria’s aspirations, our mission, supported by Mr. President, is to make it a safe, investment-friendly city that empowers all citizens,’ he said.

The minister noted that the summit’s theme, ‘Empowering Sustainable Growth: Unlocking Potentials in Emerging Markets,’ reflects the Renewed Hope Agenda of President Bola Tinubu, which focuses on inclusive development, infrastructure expansion, and job creation.

He said the administration is prioritising infrastructure development to link satellite towns, area councils, and rural communities to the city centre, adding that such projects are essential for industrialisation and economic diversification.

Wike commended AICL for organising what he described as a ‘strategic platform’ that brings together investors, innovators, and development partners to explore opportunities for shared prosperity. ‘The FCT administration remains committed to building a sustainable capital city and enhancing Nigeria’s position on the continental and global stage,’ he added.

In her remarks, Ambassador Maureen Tamuno, group managing director/CEO of Abuja Investments Company Limited (AICL), said the expo aligns with the objectives of the Renewed Hope Agenda, which seeks to improve investor confidence, diversify the economy, and support inclusive growth.

She said ABIEXPO 2025 attracted participants from within Nigeria and countries such as South Africa, the United Kingdom, Canada, and Botswana, reflecting Abuja’s position as a growing investment destination.

‘ABIEXPO 2025 marks the next chapter in Abuja’s evolution into a globally competitive city,’ Tamuno said.

She added that the event featured Youth Day and Women’s Day sessions to promote inclusion and connect emerging entrepreneurs with investors.