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The drama surrounding new duty-free rice import has entered a new phase. In a surprising twist, two Mombasa-based commodity trading moguls have quietly withdrawn a case they had filed to block the government’s plan to import 500,000 tonnes of rice.
Change of strategy? Or have the protagonists simply decided to throw in the towel?
As Kenya’s digital economy rapidly evolves, the government is continuously updating its tax policies in a bid to expand the net while ensuring there are no loopholes resulting from rapidly changing business models.
A notable change introduced through the Finance Act 2025 is the imposition of a 10 percent excise duty on fees charged by virtual asset service providers (Vasps) on transactions. This measure aims to expand the tax base and integrate digital assets into the formal tax system.
Introduction of excise duty on fees charged by Vasps comes two years after the Finance Act 2023 introduced Digital Asset Tax at a rate of three percent on transaction value of digital asset exchanges.
The Digital Asset Tax imposed significant costs on digital asset traders, such as those dealing in cryptocurrencies, as it was seen as a tax on capital rather than a tax on the income of Vasps.
This was onerous and negatively affected operations of Vasps. The Digital Asset Tax was subsequently repealed by the Finance Act 2025 in favour of excise duty applied to the fees charged by Vasps on virtual asset transactions.
The shift to excise duty is seen as a step towards fostering innovation within the digital economy while still broadening the government’s revenue base.
Notably, this amendment is expected to reduce the cost of doing business for Vasps compared to the previous regime. Despite the intended positive impact of the changes to the taxation of virtual assets, implementation of the new excise tax may present several legal and operational challenges.
One of the potential challenges is the lack of clear legal definitions within the Excise Duty Act. The Act does not define the term “virtual assets.” Nor does it define what qualifies as a virtual asset.
The term “virtual assets” may cover a broad spectrum of digital instruments, such as cryptocurrencies, tokens, non-fungible tokens (NFTs), and digital vouchers.
The lack of clarity creates uncertainty as to which assets fall within the scope of excise duty, thereby increasing the risk of inconsistent application, interpretational disputes, and potential double taxation.
Conversely, when Digital Asset Tax was introduced, the Income Tax Act was amended to include a definition of “digital asset,” which provided a degree of certainty in implementation. The current lack of definition under the Excise Duty Act presents an undesirable uncertainty for both taxpayers and administrators.
Additionally, the term “Virtual Asset Service Provider” is also not defined within the Excise Duty Act. The absence of a clear definition creates ambiguity regarding which entities and individuals fall within the scope of excise duty.
To ensure effective implementation and enforcement of the law, it is essential that the legislation explicitly defines “Virtual Asset Service Provider.”
This definition should clearly outline the types of businesses, platforms, or individuals that fall within its ambit, such as cryptocurrency exchanges, wallet providers, and other intermediaries involved in the transfer safekeeping, or administration of virtual assets.
By providing a precise definition, the KRA will be better equipped to identify the intended taxpayers, minimise the risk of non-compliance and efficiently collect the relevant taxes from those operating within the virtual asset ecosystem.
The lack of clear definitions may result in tax disputes, and while Kenyan courts have previously held that the absence of a statutory definition does not always result in ambiguity, the technical and evolving nature of virtual assets makes clarity and precision in tax legislation essential to avoid tax disputes and ensure enforceability.
International best practice highlights the importance of establishing a comprehensive legal framework prior to imposing tax obligations on virtual assets.
Jurisdictions such as the European Union, Singapore, and the United States have all enacted detailed legislation to define and regulate virtual assets before introducing relevant tax measures. This approach provides legal certainty, facilitates compliance, and supports effective enforcement.
For Kenya to effectively implement excise duty on virtual asset transactions, the Excise Duty Act should be amended to include clear and comprehensive definitions of “virtual assets” and “Vasps.”
The KRA, in collaboration with other regulatory bodies, should also issue detailed guidance to clarify the application of excise duty to virtual asset transactions, supported by practical examples and compliance protocols. Ongoing engagement with industry stakeholders will be vital to ensure that the tax regime is workable, enforceable, and does not impede innovation.
While the shift from the Digital Asset Tax to an excise duty on fees charged by Vasps is aimed at a more balanced approach for business and the government, the lack of clear legal definitions for virtual assets and Vasps in the Excise Duty Act may create major challenges.
Until these issues are resolved, applying excise duty to virtual asset transactions will remain uncertain. A clear and coordinated approach is needed to give certainty to businesses, regulators, and the economy and an advocate of the High Court of Kenya.
BIC, one of the leaders in stationery, lighters, and shavers, has reaffirmed its commitment to education in Nigeria by spotlighting the vital role of teachers at the Let There Be Teachers Conference in Lagos.
The landmark event, which set a new Guinness World Record for the largest gathering of teachers, provided a platform for dialogue on strengthening education and celebrated teachers as key drivers of national development.
With education at the core of its sustainability agenda and in alignment with the United Nations’ Sustainable Development Goal (SDG) 4, Quality Education, BIC has pledged to improve learning conditions and enhance access to quality education for millions of children worldwide.
This is in line with BIC’s commitment to improving learning conditions for 250 million students by 2025. In Nigeria, the company aims to achieve that through a holistic approach to education starting with equipping classrooms with the necessary writing tools for academic performance, creating inspirational learning environments, unleashing creativity outside of the classroom, all the way to supporting students as they transition from the academic to the professional world and integrate into the workforce.
Speaking at the conference, Anthony Amahwe, General Manager of BIC Nigeria, said: ‘The belief that education is the backbone of societal progress and development is rooted in BIC’s DNA.
‘This is a key driver for us to continue to support millions of students and teachers and play a key role in raising a generation capable of building sustainable and productive societies. Now, more than ever, we must strengthen education, not just as a path to employment, but as a foundation for self-expression, creativity, and deep understanding of our environment.’
The conference also drew attention from government representatives. Princess Adejoke Orelope-Adefulire, OFR, Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), stressed the need to address systemic education challenges and emphasized that teachers must be at the centre of reform efforts.
Keynote sessions and panel discussions reflected the urgency of strengthening Nigeria’s education system, with themes ranging from building a sustainable nation one classroom at a time to empowering teachers for quality education and repositioning the teaching profession for national development.
Experts and stakeholders explored ways to enhance teachers’ status, integrate technology and innovation into learning, reform education policies, and promote strong leadership for transformation in the sector.
The event reinforced BIC’s global initiative, Writing Our Future, Together, which inspires millions of students across more than 180 countries to take action for a sustainable future.
In Nigeria, this mission continues to shape classrooms and empower educators-affirming BIC’s belief that every teacher trained today is an investment in tomorrow’s nation.
BIC Nigeria is committed to enhancing learning conditions for students and investing in teacher.
Over the years, the company has partnered with foundations, organisations, and government agencies to elevate learning environments, led teacher training workshops and events, supported local education initiatives, and introduced creative learning programs.
Bastion Health announces the successful conclusion of its annual Provider Forum, held in Lagos on September 25. This key event reaffirms Bastion Health’s commitment to building strong partnerships with its healthcare provider network while advancing service delivery for customers nationwide.
Themed ‘Beyond Coverage: Building Trust and Value Together’, this year’s forum was integral to the continued interaction between the company, enrollees and providers nationwide. The event provided a vital platform for insightful presentations, feedback, a robust panel discussion on transformative initiatives, and how best to work together to serve enrollees better. The participants were delighted with the opportunity to share their thoughts and ideas with a listening Bastion management team. Among many topics deliberated upon was the high inflationary macro environment with its attendant impact on cost of care.
Generally, participants from Bastion’s provider network were committed to improving the quality of care even in these challenging times.
‘Trust is built brick by brick through honesty, consistency, transparency and respect: trust between patient and provider, trust between insurer and provider and between all stakeholders towards a shared goal’, said Naomi Aduku, Managing Director of Bastion Health Limited. ‘This forum highlights our unwavering dedication to enhancing healthcare experiences of our customers nationwide and building lasting relationships with our valued partners, our provider network.’
‘Trust is a two-way street. When providers create doubt in the minds of enrollees, compliance with medical guidance is undermined. It is therefore essential to set aside bias and reinforce to patients that their HMOs are fully committed to acting in their best interests’, said Dr. Sylvanus Jatto, Head Medical Consultant at Stanbic IBTC.
‘In driving innovation, collaboration and the delivery of exceptional healthcare solutions are non-negotiable. Collaboration is the key, and we need one another to make this work. At Bastion Health, we remain firmly committed to our mission of making quality healthcare both accessible and affordable,’ said Dr. Akinkunmi Ilori, Group Head, Medical Operations at Bastion Health Limited.
‘This meeting has given us the opportunity to meet and remind ourselves that our patients or enrollees are top priority, we must continue to give good customer service to them, if we want to retain them’ said Raymond Peters, Head, Billings Team at Blue Cross Hospital.
Bastion Health remains committed to its mission of making good healthcare more accessible and affordable to Nigerians through a strong but close collaboration with providers who are tasked with ensuring the best possible outcomes for its enrollees.
L-R: Dr. Sylvanus Jatto: Head, Medical Consultant, Stanbic IBTC, Dr. Olamide Oluwasanmi: Group Head, Patient Experience, R-Jolad Hospital, Dr. Kunle Megbuwawon: CEO/CPO, Orange Health Medical Dr. Damilola Agboyinu: Head, Wellness, Bastion Health Limited
About Bastion Health Limited
Bastion Health is one of the fastest-growing HMOs in Nigeria, delivering flexible and innovative health insurance solutions that guarantee quality healthcare experiences. With a vision of transforming healthcare in Africa, Bastion Health consistently brings greater convenience and value to enrollees across the country and beyond. We have carefully designed healthcare plans that serve corporate organizations, SMEs, families, individuals including seniors; ensuring that everyone can access healthcare that truly meets their needs.
President Bola Ahmed Tinubu has approved ?70 billion for the implementation of the Tertiary Education Trust Fund (TETFund) Mini-Grid Solar Power Project, which will provide sustainable energy solutions in 12 selected tertiary institutions across the country.
Aminu Bello Masari, Chairman of the TETFund Board of Trustees, announced this on Wednesday in Abuja at the 2025 TETFund National Town Hall Meeting, which brought together top government officials, vice-chancellors, rectors, provosts, and representatives of academic unions.
Masari, a former governor of Katsina State and ex-Speaker of the House of Representatives, said the solar initiative aims to promote renewable and sustainable energy solutions across Nigerian tertiary institutions. He disclosed that twelve institutions have been selected for the first phase of the project.
The benefiting institutions include the Nigerian Army University, Biu, Borno State; Northwest University, Kano; Ambrose Alli University, Ekpoma, Edo State; Alvan Ikoku University of Education, Owerri, Imo State; and Lagos State University, among others.
According to Masari, the Town Hall Meeting was convened to enhance transparency, inclusivity, and responsiveness in the nation’s tertiary education system.
He highlighted major achievements recorded by the Fund under President Tinubu’s administration, noting that over 3,332 scholars have benefited from TETFund’s master’s degree sponsorships, while 4,796 have been supported for PhD programmes under the local component of the TETFund Scholarship for Academic Staff.
‘The Fund continues to support teaching practice, conference attendance, research, and development, thereby ensuring that Nigerian tertiary institutions are equipped with a highly trained and globally exposed academic workforce,’ Masari said.
He added that the Board envisions Nigerian tertiary institutions that are globally competitive, research-oriented, and innovation-driven, producing graduates who are employable, entrepreneurial, and capable of solving national challenges.
‘To achieve this, we will continue to strengthen accountability and transparency frameworks, expand investments in alternative energy and digital learning platforms, promote advanced research in agriculture, health, and technology, and deepen collaboration with industries and international partners to drive research commercialisation and sustainable impact,’ he stated.
In his remarks, Sonny Echono, Executive Secretary of TETFund, commended President Tinubu for his strong support for tertiary education, especially through the recent increase in the education tax allocation from 2.5% to 3%. He said the increase has significantly enhanced the Fund’s intervention capacity.
Echono also clarified that the Fund had temporarily suspended foreign training of scholars, except for specialised programmes, pending the introduction of a new policy framework.
He explained that the decision followed the President’s directive to curb the trend of scholars absconding after completing government-sponsored studies abroad.
Also speaking at the event, Emmanuel Osodeke, former President of the Academic Staff Union of Universities (ASUU), cautioned against the proliferation of universities, describing many of them as ‘constituency projects.’ He warned that such institutions are often created to access TETFund interventions rather than to improve access to quality education.
Osodeke urged the National Assembly to enact legislation preventing newly established universities and other tertiary institutions from accessing TETFund interventions until they have operated for at least five to ten years.
For Africans, ideas have transcended being just expressions; they’re now assets. And those who learn to name, package, and protect them are building the next generation of wealth.
We are now firmly living and building in the Thought Leader Economy – a space where the most valuable products are not necessarily tangible goods or traditional services, but perspectives, frameworks, and intellectual property.
Across the continent, professionals, entrepreneurs, and creators are turning their expertise into income by working smarter with what they already know.
Ideas are the new capital.
Imagine an architect who begins teaching design thinking online. Or a finance professional who turns years of advisory experience into digital resources for startups. Or a creative entrepreneur who transforms her approach to storytelling into a consultancy.
What they’re all doing – consciously or not – is commercialising intellectual property.
In the traditional sense, intellectual property law was about inventions, trademarks, or copyrights. But in today’s digital world, it extends far beyond that. The systems you develop, the frameworks you teach, the content you publish, and even the way you express your brand identity all form part of your intellectual capital.
These are the assets driving Africa’s growing knowledge economy.
The most forward-thinking professionals on the continent are using three levers to turn their ideas into income:
Creation – They document original thinking instead of simply replicating trends. They translate experience into intellectual value. They create processes unique to their journey and expertise and turn them into teachable systems that others can learn from. They refine their ideas until those ideas become frameworks, methods, or curricula that outlive the moment.
Community – They build audiences who trust their perspective, creating ecosystems that sustain their ideas. They create space for dialogue, where people can engage, ask questions, and apply what they learn. In doing so, they move beyond followers to form tribes: groups of people who feel seen, informed, and empowered by their message. This sense of belonging turns a personal brand into a shared movement, where the audience doesn’t just consume ideas but takes it upon themselves to spread the message.
Credibility – They protect their identity and content through legal and strategic systems. They understand that in the long term, ownership is more powerful than visibility. They trademark their brands, secure their digital assets, and document their original work. And along with legal protection, they build credibility through consistency, showing up with excellence long enough for people to trust their name. Because in the digital economy, credibility compounds.
Protecting the new assets
Africa’s digital creators are operating in an economy that moves faster than most people’s understanding of intellectual property law. As opportunities for monetisation grow, so do the risks, from idea theft to brand imitation.
Every brand, consultant, or digital educator now faces a new layer of responsibility: to treat their intellectual output as capital.
That means registering trademarks, licensing digital products, formalising collaborations, and understanding how copyright works across jurisdictions.
The Thought Leader Economy calls for a mindset shift – from posting for validation to creating value, from being followed to being trusted, and from being visible to being protected.
In the end, the people who will thrive in this new economy are those who realise that their ideas are property.
And like all valuable property, they must be managed, protected, and multiplied.
FOSL Upstream Limited, a subsidiary of Ailes Group, has entered into a strategic partnership with Knox Western – Didwania Group to strengthen energy innovation and efficiency in Nigeria.
The collaboration focuses on the manufacturing, supply, sales, and maintenance of Compressed Natural Gas (CNG) and cryogenic compressor pumps.
Michael Onuoha, Chairman and Chief Executive Officer of Ailes Group and FOSL Upstream Limited, said the partnership aligns with FOSL’s long-term mission to advance sustainable energy solutions across Africa.
‘This partnership marks a significant step in our mission to champion innovation and sustainability within the energy landscape,’ Onuoha said. ‘By aligning FOSL Upstream’s operational strengths with Knox Western – Didwania Group’s advanced technology and engineering heritage, we are poised to set new standards in compressor technology, reliability, and service delivery. Our goal is to contribute meaningfully to Africa’s growing energy infrastructure while supporting the global shift toward cleaner energy.’
The partnership combines the technical experience of Knox Western – Didwania Group with FOSL Upstream Limited’s operational capacity and local market presence. Both companies aim to deliver practical solutions that improve energy access, promote system reliability, and support the global move toward cleaner energy sources.
Onuoha added that the partnership would also strengthen local capacity through technology transfer, technical training, and the creation of support systems that generate employment and promote indigenous participation in the energy value chain.
According to both organisations, the collaboration will allow them to jointly deliver end-to-end energy solutions designed to meet Nigeria’s expanding demand for natural gas and cleaner fuels. The initiative also reflects a shared vision for a sustainable energy future that balances global expertise with local development needs.
FOSL Upstream Limited provides technical services across Nigeria’s upstream oil and gas operations. The company focuses on advancing innovation and developing local capacity through strategic collaborations within the energy sector.
Knox Western – Didwania Group is a global company specialising in compressor systems and engineered energy solutions. With extensive experience in CNG and cryogenic technologies, the firm designs and supplies compressor products used in industrial and energy applications in multiple countries.
Both companies expressed confidence that the partnership will play a vital role in Nigeria’s energy transition efforts and contribute to long-term industrial growth within the region.
South African Airways (SAA) marked Nigeria’s 65th Independence Day anniversary by hosting the Aviation Youth Forum at the NCAA Annexe, Murtala Muhammed International Airport, Lagos.
Present at the event were students from Air Force Secondary School, Ikeja; Abiolu Comprehensive College, Igando; Abesan Senior High School, Ipaja; Murtala Muhammed Airport Secondary School, Ikeja; and Princeton College, Surulere, who spent a day with aviation professionals to gain inspiration and guidance on charting their unique future career paths in the sector.
The event, themed ‘Finding Your Place in Aviation – Ask the Professionals, ‘ featured a lineup of esteemed guest speakers from the aviation industry, including representatives from the Nigerian Civil Aviation Authority (NCAA), Aviatrix Hub, Aircraft Owners and Pilots Association of Nigeria, and SAA. The speakers shared their insights and experiences, providing the students with valuable knowledge and inspiration.
Kemi Leke-Bamtefa, country manager of SAA, emphasised the significance of aviation in Nigeria’s development, encouraging students to explore various career paths in the industry. ‘Whether you dream of flying an aircraft, maintaining one, guiding it from the tower, designing airport systems, analysing flight data, or you want to be in commercial sales, in travel and tourism, build drones, create travel technology or tell aviation stories like the journalists, there’s a seat for you in this industry,’ she said.
She noted further that, ‘With over 25 years of commitment to youth development and empowerment in Nigeria. We have dedicated youth programs such as SAA Secondary School Essay Competition, SAA Aviation youth forum and have partnered with organisations on several initiatives to guide and encourage innovation amongst the Nigerian youth.
‘Nigeria celebrates 65 years of a nation that dared to fly-standing tall, resilient, and creative. Independence Day reminds us that freedom is not just a date on the calendar; it’s the courage to dream, the discipline to prepare, and the determination to fly. That is the spirit of aviation, and that is the spirit of Nigeria.’
Alex Nwuba, the Keynote Speaker at the forum, president of the Aircraft Owners and Pilots Association of Nigeria, advised students to become tech-fluent and think about long-term solutions in the face of emerging technologies like Artificial Intelligence (AI). ‘By the time most of you finish university, the world you will be prepared for, will not be what you got prepared for. That is because of AI, and that is the reality that we must face,’ he said.
Other eminent industry professionals were also present and made presentations sharing their stories and experiences as well as motivating and encouraging the students to follow their dreams on their path to making a career in the sector.
They include Victoria Adegbe, MD, Aviatrix Hub, an approved Aviation Training Organisation; Kate Nnanna-Ibemgbo, Deputy General Manager, Air Traffic Management/State Safety Program, NCAA; and Irene Ejakita, a Cabin Crew Manager.
An award ceremony ensued, where South African Airways recognised and rewarded guest speakers and students present. Guest speakers were honoured with Award Certificates of Appreciation for their outstanding contributions, invaluable insights and inspiring words. Also, students who actively participated in the feedback session received branded T-shirts, and all students received goody bags as a token of appreciation, all courtesy of South African Airways.
The event concluded with a facility tour of the Murtala Muhammed International Airport Control Tower carefully coordinated by Edino Emos, the TRACON Manager, Nigerian AirSpace Management Agency, NAMA.
There students witnessed Air Traffic Controllers at work and gained very useful insight into the aviation industry – a testament to the airline’s commitment to empowering the next generation of aviation professionals in Nigeria.
The Central Bank of Nigeria’s geo-tagging mandate represents a watershed moment in the evolution of Nigeria’s digital payments ecosystem. With over 4.2 million point-of-sale terminals now required to integrate GPS technology and connect to the National Central Switch within a 60-day compliance window, this directive transcends routine regulatory housekeeping. It signals a fundamental shift toward creating a fully monitored, geospatially aware financial infrastructure that could reshape how economic activity is tracked, regulated, and understood across Africa’s largest economy. The timing is particularly significant as Nigeria continues its aggressive push toward cashless transactions while grappling with persistent fraud challenges that have eroded consumer confidence and inflated transaction costs across the payment value chain.
Addressing information asymmetry and market failures
From a macroeconomic perspective, this initiative tackles a critical market failure: the proliferation of information asymmetry in Nigeria’s payment ecosystem. The current system allows ‘ghost’ terminals and cloned devices to operate with minimal oversight, creating an environment where fraudulent transactions can flourish unchecked. By mandating real-time location verification and centralised monitoring, the CBN is essentially installing a comprehensive surveillance mechanism that brings previously invisible economic activity into the formal framework. This transparency dividend extends beyond fraud prevention-it creates the foundation for evidence-based monetary policy, more accurate GDP calculations, and targeted financial inclusion interventions. The reduction in transaction uncertainty should theoretically lower risk premiums embedded in payment processing fees, potentially benefiting end consumers through reduced merchant costs.
The compliance challenge and market dynamics
The operational burden imposed by this directive cannot be understated. With approximately 1.5 million active PoS agents requiring hardware upgrades and software integration within 60 days, the logistics challenge is unprecedented in Nigeria’s fintech history. Industry estimates suggest that GPS-enabled terminals cost between ?35,000 and ?50,000-a significant capital expenditure for micro-enterprises operating on razor-thin margins. Major operators like Moniepoint, OPay, and PalmPay face the dual challenge of retrofitting existing infrastructure while maintaining service continuity. The economic calculus is stark: non-compliance results in terminal deactivation, effectively forcing a binary choice between substantial upfront investment and market exit. This creates natural consolidation pressure that may favour larger, well-capitalised operators while potentially displacing smaller players who cannot absorb the compliance costs.
Geographic mobility and financial access implications
Nigeria’s agent banking success has been built on mobility and accessibility, particularly in rural and peri-urban areas where formal banking infrastructure remains limited. The 10-metre restriction radius fundamentally alters this value proposition, potentially constraining agents who operate at rotating markets, transport hubs, or community gatherings. This geographic constraint could inadvertently reverse financial inclusion gains, particularly in underserved regions where mobile agents have been the primary bridge between formal financial services and excluded populations. The policy creates a tension between security and accessibility that requires careful calibration. Rural agents who depend on mobility for their livelihoods may find their business models suddenly unviable, potentially creating service deserts in areas where financial access was already precarious.
Data goldmine and policy intelligence
Perhaps the most transformative aspect of this directive lies in its data generation potential. Geo-tagged transactions will create an unprecedented granular map of Nigeria’s commercial activity, providing policymakers with real-time insights into economic patterns previously hidden in the informal sector. This intelligence can inform everything from monetary policy decisions to infrastructure planning and social programme targeting. The ability to track transaction flows at the local government level enables more sophisticated analysis of regional economic disparities, seasonal commerce patterns, and the effectiveness of development interventions. For economists and policymakers, this represents a quantum leap in data availability that could fundamentally improve the precision of economic forecasting and policy calibration across Nigeria’s diverse regional economies.
Market consolidation and competitive dynamics
The geo-tagging requirement will likely accelerate market consolidation as compliance costs create natural barriers to entry and operational scale becomes increasingly important. Well-funded operators with robust technical infrastructure will emerge stronger, while smaller players may struggle to justify the investment required for compliance. This consolidation could improve service quality and regulatory compliance across the sector, but it may also reduce competitive pressure and innovation incentives over time. The surviving operators will control larger market shares and potentially gain greater pricing power, which could offset some of the consumer benefits expected from fraud reduction. The CBN must carefully monitor market concentration to ensure that enhanced security does not come at the expense of competitive dynamics that have driven innovation and cost reduction in Nigeria’s payments sector.
Implementation strategy and economic resilience
The success of this initiative hinges critically on implementation flexibility and stakeholder collaboration. A rigid enforcement approach could trigger widespread service disruptions that undermine the very financial inclusion objectives the policy seeks to protect. The CBN should consider a phased rollout with differentiated compliance timelines for urban versus rural areas, given the distinct operational challenges each environment presents. Technical support programmes, device financing schemes, and temporary compliance waivers for genuinely challenged operators could ease the transition while maintaining policy integrity. The ultimate goal should be building a more resilient payment ecosystem that balances security imperatives with accessibility requirements, ensuring that enhanced oversight strengthens rather than fragments Nigeria’s digital economy foundation.
Funso Doherty, a former governorship candidate in Lagos State, has declared that he will contest again in the 2027 elections, expressing confidence that the ruling All Progressives Congress (APC) can be unseated in the state.
Speaking during his appearance on Silverbird Television on Thursday, Doherty said the notion that Lagos is an impregnable APC stronghold is false, pointing to the outcome of the 2023 presidential election as evidence.
‘In the last presidential election, who won Lagos? APC lost Lagos. That’s a fact,’ he said. ‘So, the premise that Lagos is irrevocably tied to the APC and cannot be dislodged is faulty.’
He confirmed his readiness to run again under the PDP banner. ‘I will be in the race in 2027, by the grace of God, God willing, and God giving us life and strength, absolutely with the PDP,’ Doherty declared.
The politician said that the people, not the political establishment, will determine the outcome of the next elections.
‘At the end of the day, in 2027, the decision people are going to make is whether they are faced with a strong candidate and what their options are,’ he noted. ‘The people are going to decide it in 2027.’
On the national political climate, he criticised the
APC-led federal government for worsening poverty and ethnic divisions across the country.
‘We are more divided today than we have ever been as a people,’ he said. ‘Ethnic tensions are probably higher today than they were when this administration took over.’
Doherty described Nigeria as a country split between ‘a nation of the few and a nation of the many.’
While the government celebrates exchange rate stability and reserve build-up, he said, the majority of Nigerians are battling declining living standards. ‘When you talk about the quality of life of the people, education, health, income levels, poverty, you see that economically, we are in a very difficult place,’ he stated.
The PDP candidate also called for a stronger, more independent electoral body ahead of 2027. ‘People are looking for an INEC that will follow its own rules,’ he said.
‘Even if we don’t get an amendment of the Electoral Act, at least implement faithfully the act that we presently have.’
He added that while Nigerians still face challenges with electoral integrity, overwhelming voter turnout can overcome manipulation.
‘If the people come out and 80 percent of them say this is the person I want, even today, that person will prevail,’ he said. ‘We want to move away from a situation where people have to scream to make their votes count.’
He called for practical political reforms rather than idealistic debates. ‘Between now and 2027, the process of appointing the INEC chairman is not going to change,’ he said. ‘Let’s understand that and work with the practicalities that lie before us.’