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Nigeria’s farming sector shapes currency markets through crop cycles, food imports, rural income patterns. While oil dominates foreign exchange earnings, agriculture affects millions of Nigerians and creates seasonal currency demand smart traders notice.

Country grows massive amounts of cassava, yam, maize, rice, other staples for both local eating and exports. Weather, planting times, harvest cycles create predictable changes in farm output affecting import needs and rural spending power. Agricultural price movements help explain currency swings seeming unrelated to oil prices or central bank policies.

Crop Cycles and Import Replacement

Rice production follows clear wet and dry season patterns affecting Nigeria’s huge rice import costs. Better domestic harvests during good growing seasons? Cut foreign currency needs for rice from Thailand, India, other suppliers.

Cassava processing into flour and starch creates export chances to nearby markets while replacing wheat imports. Nigerian cassava flour exports to neighboring countries bring in foreign currency supporting naira during certain periods.

Maize cycles affect both human food and animal feed supplies. Bad maize harvests increase import needs for livestock feed and food products. Adding foreign currency demand during specific seasons.

Yam production stays mostly local but affects rural income levels influencing domestic currency patterns. Good yam harvests boost rural buying power and change local currency flow.

Cocoa Exports and Global Markets

Nigeria ranks among top cocoa producers worldwide. Earning substantial foreign currency through exports to chocolate makers in Europe and North America. Global cocoa price swings directly hit Nigerian foreign exchange earnings from this sector.

Cocoa farming areas in southwestern Nigeria see income cycles following international cocoa market trends. High cocoa prices lift farmer incomes and rural spending. Low prices cut economic activity in cocoa states.

Quality bonuses for Nigerian cocoa beans affect export earnings beyond basic quantity math. Better processing and quality control generates higher foreign currency returns per ton exported.

Seasonal workers moving to cocoa farms affect regional economic patterns and currency flow. Workers from northern Nigeria head south during harvest seasons. Creating temporary population and economic shifts.

Palm Oil Production and Regional Trade

Oil palm growing in southern Nigeria produces palm oil for local use and regional exports. Nigerian palm oil competes with Malaysian and Indonesian products in West African markets.

Small processing facilities let rural communities add value to palm fruit production. Earning more foreign currency than raw fruit exports. These operations affect rural jobs and income spread.

Regional demand for Nigerian palm oil from Ghana, Benin, Cameroon creates steady export opportunities generating foreign currency separate from global oil conditions.

Environmental concerns affect international market access for Nigerian palm oil products. Certification programs and sustainable practices influence export potential and foreign currency earnings.

Weather Patterns and Farm Output

Critical Agricultural Timing Factors:

Rainy season (April-October): Determines farming success across most of country, rainfall timing and amounts affect crop yields and related foreign currency impacts

Drought in northern Nigeria: Cuts crop yields and increases food import needs, adding foreign currency demand during tough weather years

Flooding in southern areas: Disrupts farm production and processing, affecting both local food security and export potential

Harvest season loan payments: Create concentrated banking activity periods in farming regions

Climate swings: Affect farm planning and currency market patterns unpredictably

Nigeria’s rainy season from April to October determines farming success. Rainfall timing and amounts affect crop yields and related foreign currency impacts.

Drought in northern Nigeria cuts crop yields and increases food import needs. Adding foreign currency demand during tough weather years. Climate swings affect farm planning and currency market patterns.

Flooding in southern areas disrupts farm production and processing. Affecting both local food security and export potential. Extreme weather creates unpredictable currency market pressures.

Sahel desertification affects farm productivity in northern states. Potentially increasing long-term food import needs requiring ongoing foreign currency spending.

Rural Banking and Farm Finance

Farm financing patterns affect how rural income translates into currency market activity. Harvest season loan payments create concentrated banking activity periods in farming regions.

Microfinance serving rural areas helps agricultural trade. Professional currency traders often monitor these agricultural patterns through https://fbs-review.com/ to identify seasonal trading opportunities linked to farming cycles.

Mobile money adoption in rural areas improves financial service access. Eventually helps currency activities for farming communities previously outside formal banking.

Agricultural insurance development stabilizes rural incomes and creates more predictable currency market patterns from farm activities.

Food Processing Industry Growth

Tomato paste facilities cut Nigeria’s dependence on imported tomato concentrate. Saving foreign currency while creating jobs in farming regions. Processing industry growth affects both import replacement and export potential.

Wheat flour mills depend on imported wheat since local production stays limited. These operations create steady foreign currency demand regardless of local farm production cycles.

Sugar refineries process both local sugarcane and imported raw sugar. Creating complex currency effects varying with local production success and international sugar prices.

Vegetable oil processing facilities work with various oilseeds producing cooking oil for local consumption and regional exports.

Regional Farm Trade Relationships

West African regional markets provide steady demand for Nigerian farm products including processed foods, spices, raw materials. These regional trade relationships create foreign currency earnings independent of global commodity markets.

Cross-border farm trade with Benin, Niger, Cameroon involves both formal and informal currency exchanges affecting regional currency flow patterns.

Farm product price differences between Nigeria and neighboring countries create arbitrage opportunities generating cross-border trade and related currency flows.

Regional food security concerns affect trade policies. Create sudden changes in farm export permissions influencing foreign currency earning opportunities.

Climate Adaptation and Farm Sustainability

Changing rainfall patterns affect farm productivity. Require increased irrigation infrastructure involving imported equipment and foreign currency spending.

Drought-resistant crop varieties cut farm vulnerability to weather changes while maintaining export potential and foreign currency earning capacity.

Soil conservation programs help maintain farm productivity but need foreign technical help and equipment creating foreign currency demand.

Farm research partnerships with international organizations bring foreign currency inflows while improving long-term farm productivity and export potential.

Nigeria’s farming sector creates complex currency market relationships operating independently of oil market dynamics while affecting millions of rural residents. These farm influences on currency markets reflect country’s broader economic structure and development challenges beyond petroleum production.

Some stakeholders have expressed concerns regarding the changes introduced to the capital gains tax regime under the new tax reform laws effective from 1 January 2026.

This note provides context to the reform and clarifies the issues that are frequently raised.

1. ()?

CGT is a tax charged on the profit (or ‘gain’) made from the disposal of certain assets such as shares and real estate. Only the gain, not the total proceeds, is subject to tax. A flat rate of 10% applies to all chargeable gains under the current laws.

2. 10% 30%?

The CGT rate has not been increased to 30%. Instead, CGT has been integrated into personal and corporate income tax. This means the tax you pay on capital gains depends on your overall income level or company profits, making the system more progressive. Effectively, the applicable CGT rate under the new laws ranges from 0% to 30%.

3. ?

The reform makes CGT progressive so that low-income earners either pay no CGT or pay less, while higher-income earners contribute a fairer share. It also helps reduce distortions where income could previously be misclassified as capital to enjoy a lower, flat CGT rate.

4. ?

-CGT only applies to net gains, since capital losses can be offset against capital gains.

-Proceeds from sales not exceeding ?150 million annually where the gains are not more than ?10 million, are exempt. This means about 99% of individual investors are effectively exempt.

-Where the proceeds exceed the exemption threshold, CGT is not due if such proceeds are reinvested into the shares of a Nigerian company.

-Institutional investors such as pension funds are exempt from CGT, just as they are from corporate income tax.

-Companies undergoing reorganisations, mergers, or restructurings are not subject to CGT on those transactions.

5. ?

No. CGT revenue is historically very small, less than 2% of what is collected from Companies Income Tax (CIT) and Value Added Tax (VAT). The reforms are about harmonisation, fairness and efficiency. In fact, businesses will benefit far more from reduced CIT rates and broader VAT input credits. For instance, the FIRS collected only ?52 billion from CGT in 2024 compared to over ?15 trillion from CIT and VAT. The reduced CIT rate and broader VAT credit is estimated to benefit businesses in the region of ?4.5 trillion.

6. ?

Most foreign investors can claim tax credits in their home country for taxes paid in Nigeria, under double taxation agreements or unilateral tax relief. This means CGT paid in Nigeria will often not be an additional cost.

7. ?

No. The new rules are consistent with international best practice. Many countries already apply progressive tax treatment to capital gains, and exemptions for small investors and reinvestment make Nigeria’s regime competitive. When considered holistically, the lower CIT rate and broader input VAT credit in the new tax laws will improve profitability of companies, equity valuations, and enhance overall investor returns.

8. ?

No. The CGT reform applies to all chargeable assets, unless specifically exempt. Examples of exemptions in addition to the threshold for shares include:

-Individuals selling up to two personal vehicles per year.

-The sale of an owner-occupied residential property.

9. ?

Not directly. Inflation and currency risks affect all investments and cannot be eliminated through tax laws. Investors are expected to manage these risks as part of their broader investment strategies.

10. ?

The changes will come into effect from 1 January 2026. Details regarding application to existing investments, historical cost, and compliance requirements will be covered under implementation guidelines with inputs from stakeholders.

: The reforms make CGT fairer, protect small investors, align Nigeria with global best practice, and provide wider tax reliefs that benefit businesses more than the limited CGT collections.

After eighteen years of shutting down its production plant in Port Harcourt and eventual exit from Nigeria, French tyre manufacturing giant, Michelin, is planning a ‘strategic’ comeback to the country.

This came to light during TechCabal interview with the Managing Director and Vice President of Sales for Michelin Sub-Saharan Africa, Amaury Vadon.

Michelin, which was the leading brand in the Nigerian tyre market in the 20th Century shocked the world when it shut down its production plant located in the oil-rich capital of Nigeria’s Rivers State in 2007.

The unfortunate shutdown was due to the very unfavourable business climate in the country at the time.

Though the company has not announced plans to reopen a factory, according to the news report, ‘it wants to rebuild its brand visibility, strengthen local presence, and position Nigeria as a key growth hub in Sub-Saharan Africa.’

Michelin’s shutdown of production which marked the end of an era in Nigeria’s tyre manufacturing history, was followed by exit of its major competitor, Dunlop.

Factors accurately adduced for their ‘deaths’ in Nigeria include unfavourable business conditions, inconsistent government policies, and the influx of cheaper Asian imports.

TechCabal further noted that in 2008, 90% of tyres sold in Nigeria were imported, up from just 25% in 2005, a shift that reshaped the industry entirely.

‘Today, Nigeria’s tyre market is worth an estimated $820 million, projected to hit $1.12 billion by 2030 at a 6.4% compound annual growth rate. Yet, despite growing demand, driven by the country’s 40 million-strong vehicle fleet and expanding road networks, the market remains dominated by low-cost brands. About 80% of Nigerian consumers buy budget tyres, mostly from Asia,’ the medium wrote.

Michelin reportedly views this major challenge as an opportunity.

However, Michelin MD Amaury Vadon was quoted to have said, ‘It’s true that after the shutdown, many Nigerians thought Michelin had left the country. But Michelin never truly left. We may have stopped manufacturing, but we remained commercially active and are now more present than ever before.

‘We are not importers or distributors. We have Michelin employees in Nigeria. That’s a key difference. We believe in having people who can explain our value, our innovation, and why Michelin products matter.’

Towards the strategic comeback, it’s revealed, Michelin has restructured its operations in Nigeria, transitioning from an export model to a fully owned local agency. The company now maintains an office on Victoria Island, Lagos, staffed by Michelin employees who oversee direct sales, marketing, and customer engagement.

The company’s renewed focus is on two major growth segments: passenger car tyres and beyond-road activities such as agriculture, construction, and port operations. The size of the passenger car tyre market in Nigeria for 2025 is estimated at over $0.82 billion for producer and importer revenues, with passenger car tyres being the dominant segment in the nation’s overall tyre market.

Popular passenger car tyres in Nigeria, such as 195/65R15 and 205/70R15, measure about 195-205 millimetres in width and fit 15-inch wheels.

Their proportions and related variants are valued for their strength and reliability on rough local roads.

Nigeria’s evolving automotive landscape, with a growing preference for larger, high-end vehicles, drives demand for premium tyres in the 18-inch-and-above category, and confidence already built by the current government’s bold policies of economic reforms, ongoing road construction and infrastructure projects which have created new opportunities in heavy-duty and off-road segments, must have inform the company’s decision to fully return to the country.

An Ado-Ekiti Chief Magistrates’ Court, on Wednesday, ordered the remand of a 32-year-old man, Femi Adeyemo, at the Ado-Ekiti Correctional Centre, pending legal advice.

Adeyemo, whose address was not stated, was brought before the Chief Magistrate, Mr Abayomi Adeosun, on charges bordering on alleged N16 million fraud.

His plea, was however, not taken by the court.

The prosecutor, Insp Akinwale Oriyomi, informed the court that the police filed an application, seeking remand of the defendant in custody, on the grounds that the court lacks jurisdiction to try the case.

He, consequently, urged the court to order a remand of the defendant at the correctional centre, pending legal advice from the Director of Public Prosecution (DPP).

Adeosun accordingly, ordered the remand of the defendant in custody, pending issuance of a legal advice.

He adjourned the case untill Oct.27, for mention.

According to the charge, the defendant was alleged to have committed the offence between May 2024 and September, at Ikere-Ekiti.

The prosecution alleged that the defendant, who worked as manager in a filling station, adjusted the pump dispenser, and sold fuel without remitting the total sum of N16 million.

He said that the offence contravenes the provision of section 1(3) of the Advance Fee Fraud and Other Related Offences Act 2006.

The News Agency of Nigeria (NAN) reports that a magistrates’ court awaits DPP advice in serious cases, especially those that require prosecution at higher courts.

The lower court requires guidance of the DPP, to determine if there are grounds to prosecute the case, and how to proceed.

In such situations, the defendant is remanded in custody until the DPP’s office completes its legal advice.

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has taken a swipe at some state governors who previously criticised his political moves, saying they have now joined the All Progressives Congress (APC), the same party he was accused of secretly working for while serving as a member of the Peoples Democratic Party (PDP).

Speaking in Abuja on Wednesday during the flag-off ceremony for the construction of the Outer Southern Expressway (OSEX), Wike said the recent wave of defections vindicated his earlier stance that politics should be driven by performance and conviction, not blind loyalty.

The minister said: ‘When I took certain political decisions, some people went about condemning me, calling me names and accusing me of working for the APC. Today, the same people are moving to the APC one after another. So, who is wiser now?’

Wike, who governed Rivers State between 2015 and 2023 under the PDP, became a polarising figure within the opposition party after falling out with its presidential candidate, Atiku Abubakar, in the build-up to the 2023 general election.

His subsequent appointment as FCT Minister in President Bola Tinubu’s administration sparked allegations that he had defected to the ruling APC, a claim he has repeatedly denied.

However, the minister said the unfolding events in Nigeria’s political landscape had justified his earlier decisions and proved that his political strategy was guided by foresight rather than betrayal.

‘If they said I worked for APC, then they should commend me, not condemn me. At least, I did a good job. And now, those who said they would rather die than join APC are rushing there. I wish them well,’ he remarked.

Wike also used the occasion to commend President Tinubu for what he described as ‘bold and pragmatic leadership decisions’ since assuming office, particularly the removal of fuel subsidy and the fiscal reforms that have boosted revenue allocation to states.

According to him, the reforms have made state governments more financially independent, as banks now compete to offer them facilities instead of the other way round.

‘Today, governors are not running to banks; the banks are the ones running after them. This is what happens when you have a visionary leader who understands governance,’ he said.

The minister further reiterated his commitment to infrastructural renewal in the Federal Capital Territory, noting that several major road projects, including the OSEX, are designed to ease traffic congestion and open up new economic corridors.

He said his focus remains on delivering projects that will impact residents, regardless of political affiliations.

‘We are not talking politics here; we are talking about governance and service delivery. I am serving the people of Abuja, and that is my priority,’ he added.

Several PDP governors and top members, including Governor Peter Mbah of Enugu State and some lawmakers, have reportedly joined the ruling APC in recent weeks, lending credence to Wike’s claim of shifting loyalties within the opposition.

The All Progressives Congress (APC) has announced that it will endorse endorse Gov. Biodun Oyebanji as its sole candidate for the forthcoming Ekiti State Governorship at a direct consensus primary to be held on Saturday.

Mr Felix Morka, the party’s National Publicity Secretary, made the announcement in a statement on Tuesday in Abuja.

The APC spokesperson said the change from the direct to consensus primary was necessitated by the voluntary withdrawal of one of the two earlier cleared aspirants, Mrs Atinuke Omolayo.

Omolayo conveyed her decision to withdraw from the contest and endorse Gov. Biodun Oyebanji as a consensus candidate in a letter to the party’s leadership.

She also expressed her support for any arrangement adopted by the party’s leadership in nominating its candidate in accordance with the 2022 Electoral Act and its Constitution.

Her decision has been duly transmitted by the party to the Independent National Electoral Commission (INEC).

Morka said having satisfied the requirements stipulated under Sections 84(9) and (11) of the Electoral Act 2022, for consensus mode of primary election, the party’s delegate congress would hold on Saturday.

He added that its Delegate Congress Appeal would hold on Oct. 26, while the special nomination congress to ratify the consensus candidate would hold on Oct. 27.

The APC spokesman commended Omolayo for her spirit of sportsmanship, and commitment to party unity and progress.

He urged all leaders, members and stakeholders of the party in Ekiti State to stand united and work assiduously for its victory in the June 2026 Governorship Election.(NAN)

Some electricity consumers in Umuahia, the capital of Abia State on Tuesday took to the streets in protest against what they described as ‘outrageous, unbearable and unjustified’ bills charged by the Enugu Electricity Distribution Company (EEDC).

Armed with placards with different inscriptions, such as ‘We cannot pay N50,000 bill’, ‘Return electricity bill back to status quo’, ‘Electricity bill now equal to minimum wage’, among others, the protesters decried sudden rise in their electricity bills as ‘outrageous, unbearable and unjustified.’

Led by one Mr. Chukwuemeka Ozugbo, the protesters, under the aegis of Concerned Umuahia Residents, marched from EEDC Umuahia Office on Bende Road to the Government House, on Akanu Ibiam Road.

Ozugbo said that they were peacefully expressing their frustration over the recent sharp increase in tariff in the city.

According to him, most households, which previously paid about N10,000 monthly, recently received between N50,000 and N70,000 without corresponding improvement in power supply.

He added that most residents were civil servants, who live on N70,000 minimum wage.

He questioned the rationale behind billing someone, who earns N70,000 monthly as much as N50,000 for electricity.

Ozugbo described the EEDC action as unfair, saying that it violated natural justice and equity.

He demanded that the company should revert to the previous billing rate of about ?10,000 per household.

A civil servant, Mr Nnamdi Okenwa, also lamented the sharp increase of the unit cost of energy on prepaid metering.

Okenwa said that he previously paid N3,000 monthly but now billed between N15,000 and N17,000, in spite limited usage of electricity in his house.

He complained that EEDC often supplied power briefly, particularly when it planned to embark on disconnection, and usually returned to load shedding after collecting payments from consumers.

The Commissioner for Power and Public Utilities, Mr Ikechukwu Monday, who received the protesters at the Government House main gate, assured them that their grievances would be officially addressed and resolved through peaceful and structured engagement.

Monday commended them for their peaceful conduct, while expressing their demand for fair billing.

He pointed out that the sharp tariff hike in Umuahia from ?53 to ?200 per kilowatt-hour was occasioned by the upgrade of the feeder to Band A by the EEDC.

He advised affected residents to put up an official complaint letter for proper documentation.

Monday said that formal communication would enable the State Government to address the matter more effectively and transparently.

He emphasised that the present administration had made significant progress in improving power supply across communities, in spite of the existing infrastructural limitations.

He reiterated the administration’s commitment to achieving complete metering across Abia.

He affirmed that the government would engage the EEDC and relevant agencies to understand the tariff issue thoroughly, promising a peaceful and transparent resolution for affected residents.

He said that the state’s Electricity Law was signed in March, establishing the Abia State Electricity Regulatory Authority to oversee electricity matters locally.

Monday further said that electricity regulation in Abia still remained under the National Electricity Regulatory Commission.

According to him, full control of electricity regulation by Abia’s regulatory authority would be transferred to the state by December, enhancing local accountability and efficiency for consumers.

He further disclosed that over 60,000 electricity meters had been deployed across Abia, a move aimed at ensuring accurate billing and efficient energy management for all electricity consumers.

In an interview with newsmen, the Head of Commercial, EEDC Abia, Mr Festus Iwuala, explained that the tariff increment resulted from the reclassification of the affected feeder to Band A by the NERC.

Iwuala said that the feeder had previously been categorised under Bands C and B, but as of Sept. 1, was approved for Band A billing, reflecting higher electricity supply standards.

He said the adjustments were only applicable when errors occurred and that the recent change was based on national regulatory approval, not arbitrarily by the distribution company.

He urged customers to understand the structure of the electricity tariff, saying that distribution companies operate strictly within approved policies

Iwuala said that they could not independently increase tariffs without necessary regulatory authorisation.

Super Eagles Coach, Eric Chelle has said he was surprised by the superlative performance of his players in their the last world Cup qualifying match against the Cheetahs of Benin Republic on Tuesday.

Super Eagles defeated Benin Republic 4-0 in the tension soaked match played at the Godswill Akpabio International Stadium in Uyo, with Victor Osihmen scoring three of the goals.

Chelle during the post-match news conference, said that the players sacrificed their full energy to win the match.

The coach described the players as champions in today’s match, stressing that they were focused and purposeful throughout the duration of the game.

He, however, noted that the game was not yet over, until they win the play-off and get final qualification to the World Cup.

‘I am surprised by my players. They deserved this game because it was not easy.

‘So, now we are going to Morocco, it is not yet finished. It will be very difficult, but tonight, I am very happy for the players.

‘They played a great game today and two days ago, like I said before, it is well, it is well, we are here.

‘I am happy for the fact they brought us the victory which serves to help us push us to the next level.

‘The players played a very good game, especially, the best striker in the world, Victor Osimhen,’ Chelle said.

The Super Eagles Captain, Troost Ekong, said he was proud to be a member of the team.

According to him, everyone played their hearts to ensure victory in the qualifying match against Benin Republic.

He thanked Nigerians for their massive support throughout the qualifying series, stressing that the people loved good football.

The captain acknowledged that the game was not yet over, as the team still had a lot of work to do in the play-off.

The Coach of Benin Republic, Gernot Rohr, regretted that the dream of his team getting to the World Cup had been ruined by the 0-4 defeat in the hands of the Super Eagles.

He acknowledged that the Super Eagles had experienced and talented players, which gave them victory in the match.

Rohr said that the Cheetahs were young players with less experience but played very good football.

‘There was a big disappointment because we wanted to go to the World Cup, also with Beninois for the first time in history, but we could not.

‘You know, we don’t have enough players of high level.

‘As you know, we have some players who started the match; they don’t even have clubs; we also have players who play in the 5th division in France, but I am proud of my team.

‘They did very well in this world cup qualifier, but until the last game today. I am very happy to be the coach of this team.

‘It is a young team, there are still things to learn. They started with a goal in the first minutes,’ Rohr said.

Osimhen hat-trick and Frank Onyeka’s last minute goal was all the Super Eagles needed to move to the next level.

The Association of Retired Principals of Secondary Schools of Nigeria (ARPSSON), Ogun State chapter, has faulted the Federal Government’s recent policy removing Mathematics as a compulsory requirement for admission into arts and humanities courses in tertiary institutions.

Speaking at the association’s 3rd annual congress in Abeokuta on Wednesday, the President of the association, Alexander Obadimu, described the decision as ‘not well thought out,’ warning that it could weaken academic discipline and reduce students’ motivation to study Mathematics.

Obadimu said the new policy could promote laziness among students and undermine educational standards in the long run.

He stated, ‘It is very unfortunate that such decisions could come up at this time. Many students would run away from Mathematics. It plays a vital role in academics, and removing it as a requirement could lead to academic decadence.’

The former principal also expressed doubt about the policy’s sustainability, predicting that some higher institutions might not comply with the directive.

‘I want to believe that it won’t stay for long because some higher institutions might not take it as decided by the Federal Ministry of Education,’ he added.

The Federal Ministry of Education had on Tuesday announced the reform through its spokesperson, Folasade Boriowo. The statement revealed that senior secondary school students in the arts and humanities would no longer need a credit in Mathematics in their Senior School Certificate Examination (SSCE) to qualify for tertiary admissions.

According to Boriowo, the change aims to remove barriers that have denied many qualified candidates access to higher education. She explained that despite over two million candidates sitting for the Unified Tertiary Matriculation Examination (UTME) annually, only about 700,000 gain admission into Nigerian tertiary institutions.

Under the new framework, Mathematics remains mandatory only for science, technology, and social science courses, while English Language continues to be compulsory across all disciplines.

Minister of Education, Dr. Maruf Tunji Alausa, described the reform as a deliberate effort to expand access to tertiary education, estimating that it could increase annual admissions by up to 300,000.

‘Every year, over two million candidates sit for the UTME, yet only about 700,000 gain admission. This imbalance is not due to lack of ability but outdated and overly stringent entry requirements,’ Alausa said.

He added that the policy aligns with President Bola Tinubu’s Renewed Hope Agenda, aimed at creating equitable access to education and fostering national development.

However, critics like Obadimu argue that Mathematics remains a foundational subject that supports analytical and problem-solving skills vital across all academic disciplines.

While supporters view the policy as progressive and inclusive, education stakeholders say its long-term effect on academic performance and curriculum development remains to be seen.

The Federal Capital Territory Administration (FCTA) has begun the construction of main carriageway of the Outer Southern Expressway (OSEX) from Ring Road I Junction to Ring Road II.

The Minister of the FCT, Nyson Wike said during the inauguration of the project in Abuja on Wednesday, that the project would ease traffic congestion along the Apo to Wasa road corridor.

Describing the road as a ‘very important’ project, the minister said that when completed, the road would address the long hours usually spent in traffic by residents going to the city centre from the axis.

‘You will agree with me that this road is very important. In fact, before the Apo to Wasa service lane was constructed, you can only imagine when you are coming into the city, how many hours it will take you.

‘It was very horrible, but I thank God we are trying to do all we can to give the people of FCT the happiness that they desire,’ he said.

The minister attributed the ongoing infrastructural transformation in the FCT to the purposeful leadership of President Bola Tinubu.

He explained that through fuel subsidy removal, the Tinubu’s administration has made financial resources available to 36 states and the FCT to pay workers’ salaries and carry out infrastructural development projects.