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FCCISL President meets with Royal Thai Embassy to explore expanded trade and business cooperation

FCCISL President Dr. Rohitha Silva led a delegation to meet Thai Ambassador to Sri Lanka Paitoon Mahapannaporn at the Royal Thai Embassy. The cordial discussion explored opportunities to further strengthen institutional relations and expand trade, investment and business cooperation between Sri Lanka and Thailand.

The FCCISL delegation included Past President Shirley Jayawardana, Director and Chairman of the State Affairs Committee Ruwan De Silva, Secretary General Thilan Wijesooriya, and FCCISL Manager Fathima. Royal Thai Embassy Counsellor Prangtip Kongridhisuksakorn took part in the discussion.

Building upon the longstanding friendship and goodwill between the two countries, both sides discussed the implementation of the Sri Lanka -Thailand Free Trade Agreement and closer cooperation between business communities in the two countries. Enhanced economic ties are expected to create new opportunities for businesses and entrepreneurs, particularly MSMEs, while promoting investment, technology and knowledge exchange, job creation and sustainable growth for the mutual benefit of the Thai and Sri Lankan peoples.

Both sides also considered deepening engagement to facilitate closer connections between FCCISL’s district and regional chamber network and relevant Thai chambers, business organisations and regional commercial networks.

FCCISL outlined its plans for the Asia Trade Fair, scheduled for early 2027 and expected to be organised in collaboration with the SAARC Chamber of Commerce and Industry. In this regard, FCCISL sought the valued assistance of the Royal Thai Embassy in encouraging the participation of suitable Thai companies, buyers, exhibitors and business delegations.

Athapaththu, Nilakshika help Sri Lanka turn tables on Thailand

DUBAI: Sri Lanka continued their winning run with a comfortable 75-run victory over Indonesia in their second Women’s Asia Cup fixture played at the Dubai International Cricket Stadium on Wednesday.

Sri Lanka made a remarkable recovery from 62-6, working their way to 124-7 largely due to Nilakshika Silva, who struck her third T20I fifty from No. 6. Then, Captain Chamari Athapaththu skittled Indonesia with an astonishing, career-best 7/5, her first five-fer in international cricket, and the best for a Sri Lankan in T20Is. It was also the best figures in the Women’s Asia Cup. She snapped up the last three wickets to hastily end the innings, securing a hat-trick.

Indonesia opted to bowl, and for the first hour, had the upper hand over Sri Lanka, their spinners reducing the defending champions to 36-4 by the eighth over.

But Nilakshika Silva held on to one end, even if it meant a prolonged boundary-less period. None came in a 43-ball stretch, but Sri Lanka managed to crawl up to 68-6. By the 17th over, they had added 21 more runs.

Silva repeatedly shuffled across the stumps to use the shorter side and opened up, using the depth of the crease to punch a couple of fours. A reverse scoop followed by a six off her pads, brought up her fifty off 34 balls (3 fours, 1 six). She fell the next ball, but Sri Lanka had enough to get to 124-7, par for the average first innings total in the event so far.

Indonesia began positively, forcing Sri Lanka to remove any close-in fielders, but the introduction of spin slowed them down. Athapaththu struck first, rattling lefty opener Pangestuti’s stumps. Sugandika targeted the stumps too and sent Dewi back in her second over. Athapaththu then tore through further, picking two in two with her nippy off spin and Wulandari was castled by Kavisha Dilhari, to leave Indonesia reeling at 29-5 after 10.

Only one boundary was scored between the second and 15th overs, as the runs dried up significantly. Then came Athapaththu’s second round of attack, more devastating than the first. She nabbed Ariani, Maypriani and Paramitha to secure the first Women’s T20I hat-trick for Sri Lanka.

Athapaththu, named Player of the Match shared her award with Nilakshika appreciating her valuable contribution with the bat when Sri Lanka were in all sorts of trouble.

Sri Lanka who top Group B with two wins out of two play Bangladesh in their final match on 6 September.

The high cost of taxing too much

The late Chief Presidential Legal Counsel and Senator Juan Ponce Enrile served as my trusted partner for 26 years in our television program, ‘Dito sa Bayan ni Juan.’ In every discussion on taxation, I benefited from his extensive knowledge as a tax specialist. His insights enriched every discussion on the topic. Yet the counsel I will always cherish is his reminder: ‘Taxes can build or destroy. Always remember that, Jess.’ Although my television partner has now passed, his perspective continues to guide me in every conversation about tax matters.

In a recent column, I wrote about the danger of good intentions. Last August 25, I represented FPI during the House Committee on Ways Means hearing, where the discussion turned to proposals to increase taxes on smoke-free alternatives such as heated tobacco products (HTPs) and vapes. Again, the intention is understandable as the government needs revenue and it also wants to protect public health.

But will higher taxes actually achieve these objectives?

As an industry advocate, I have always believed that taxes should be reasonable, predictable and fair. They should raise revenues without destroying legitimate businesses or creating opportunities for smugglers.

Unfortunately, we already know that consumers look for cheaper alternatives when the price difference between a legal product and an illegal one becomes too wide.

When a legal manufacturer produces goods in the Philippines, it pays taxes, employs our workers, follows our laws and regulations, and buys goods and services from other local businesses.

The smuggler does none of these things.

We should learn from what has already happened with cigarettes. As taxes and prices increased over the years, illicit cigarettes became increasingly attractive to price-sensitive consumers. The result is a large illegal market that deprives the government of revenue, takes sales away from legitimate businesses, and ultimately threatens Filipino jobs and livelihoods. We should be careful not to repeat the same mistake with smoke-free products.

This is why I believe we should be very careful about proposals to sharply increase taxes on smoke-free products.

Government revenues from the HTP category are reportedly growing by around 36 percent year on year, which should tell us something important. Instead of taxing these alternatives so aggressively that consumers are pushed back toward cigarettes or into the illicit market, policy should allow legitimate smoke-free alternatives to develop responsibly.

This is an opportunity for the Philippines to participate in the transition toward newer smoke-free technologies, and not simply as a consumer market, but eventually through investment, skills, and economic activity. Investments in innovative technologies have a multiplier effect as it leads to sourcing of local inputs, logistics, and back-end services that generate employment. The country will have a competitive advantage and open up market opportunities beyond our shores. Government policy should encourage legitimate businesses to invest in better technologies rather than make that transition more difficult.

There is an old saying: Do not kill the goose that lays the golden egg.

In this case, the question is not simply whether government can collect more tax from a new category. It is whether tax policy can encourage adult smokers to move toward better alternatives, while keeping these products within the regulated and tax-paying market.

If we tax too aggressively, we risk doing exactly that. We may project more revenue per pack on paper but end up slowing the growth of the legal market from which those taxes are supposed to come.

There is also a public health question that policymakers should not ignore. Not all nicotine products carry the same risk. Cigarettes burn tobacco, smoke-free products do not. The burning process produces the thousands of chemicals that cause smoking-related diseases. This difference is precisely why the principle of risk-proportionate taxation deserves serious consideration.

Taxation can be used not only to collect money but also to encourage better choices. If an adult smoker has the option of switching to a less harmful alternative, government policy should not remove the economic incentive to make that switch.

This brings us to vapor products, where the situation is even more alarming. In FPI’s position paper on House Bills 1316 and 5364, we pointed to regional data estimating that 84.5 percent of vapor products sold in the Philippines are illicit. The same data estimated foregone government revenues at around US$188.4 million in 2024.

What will happen if we make legal vapor products even more expensive? We should not expect the illicit traders to disappear. We may simply give them more customers.

And if legal vapes eventually become as expensive as, or more expensive than, cigarettes because of taxation, we also have to ask why a smoker would have a financial reason to switch away from cigarettes. That would defeat the purpose of risk-proportionate taxation.

I support the proposal to unify the tax rates on vapor products. Our present system, which imposes different rates on nicotine salt and freebase products, is unnecessarily complicated and creates opportunities for misdeclaration and tax leakage.

But a unified tax should also be a reasonable tax. The objective should be simple: make the legal market competitive enough to defeat the illegal market, while preserving a meaningful tax differential between cigarettes and smoke-free alternatives that reflects their different risk profiles.

The same caution applies to proposals to further increase taxes on sugary drinks. There are legitimate public health concerns surrounding excessive sugar consumption, but Congress itself is examining whether the present volume-based tax is the best way to influence consumer behavior.

We should also recognize that the government already uses policy to encourage consumers and industries to adopt newer and better technologies. Electric vehicles are a good example. Through tax incentives and other measures, the government has encouraged the shift to EVs. The principle is straightforward: when technology offers the potential for a better outcome, policy can help consumers move in that direction rather than treat new and old technologies exactly the same.

Before increasing another tax that will ultimately appear in the price paid by ordinary consumers, government should first ask whether the tax is properly designed to achieve its health objective.

The FPI strongly supports tougher action against illicit trade, including better tracking and tracing, tighter control of manufacturing equipment, stronger accountability for online marketplaces and greater coordination among government agencies. But enforcement and taxation must work together.

A tax rate cannot be considered successful merely because it looks high on paper. We must look at how much government actually collects, how many jobs and investments are created, and how much of the market is being surrendered to smugglers.

Good tax policy is not about finding the highest rate government can impose but finding the rate that actually works.

Don’t kill the goose that lays the golden eggs-feed her instead. This is the best way to get more golden eggs.

Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and Anti-Illicit Trade Committee.

Cabinet nod to review quarantine law amid rising infectious disease risks

The Cabinet of Ministers has approved the appointment of a review committee to examine proposed amendments to the country’s Quarantine and Prevention of Diseases Ordinance No. 3 of 1897, with the aim of strengthening the legal framework governing infectious disease prevention.

The ordinance serves as Sri Lanka’s primary legal framework for preventing the spread of infectious diseases and enforcing quarantine measures.

Addressing the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Health Minister Dr. Nalinda Jayatissa said the significant increase in the international and domestic movement of people, goods and services has heightened the risk of infectious diseases spreading across borders.

‘Increased international travel and expanding global trade have also contributed to the rapid transmission of infectious diseases between countries,’ he said.

In 2016, the Cabinet of Ministers previously approved to amend the 1897 ordinance. However, the amendment bill prepared following that decision was not subsequently presented to Parliament.

The committee will also consider lessons and experience gained from epidemic situations in recent years when reviewing the proposed changes.

The proposal to this effect was submitted by the Health Minister.

Cyprus Department of Meteorology – Forecast for the Sea Area of Cyprus (A)

CYPRUS DEPARTMENT OF METEOROLOGY

FORECAST FOR THE SEA AREA OF CYPRUS (A)

FOR THE PERIOD FROM 0600 04/09/2026 UNTIL 0600 05/09/2026

Area covered is 8 kilometers seawards.

Winds are in BEAUFORT scale. Times are local times.

Atmospheric pressure at the time of issue: 1006hPa (hectopascal)

Seasonal low pressure is affecting the area. The weather will be mainly fine, but overnight locally increased low cloud will be present, with local mist and/or fog patches forming over eastern areas.

Visibility: Good

Sea surface temperature: 29°C

Warnings: NIL

AREA PERIOD WIND STATE OF SEA

West Coast

Morning Southwest to West 3 to 4, initially Variable Smooth to Slight

Afternoon Southwest to Northwest 3 to 4, at times locally 4 Smooth to Slight

Night Northeast 3 Smooth to Slight

South Coast

Morning Southeast to Southwest 3 to 4, initially offshore Variable Smooth to Slight

Afternoon Southwest 3 to 4, locally 4 to 5 Slight

Night Northwest 3 Smooth to Slight

East Coast

Morning Southeast to Southwest 3, later 3 to 4 Smooth to Slight

Afternoon South to Southwest 3 to 4, locally 4 Slight

Night West to Northwest 3 Smooth to Slight

North Coast

Morning Southwest to Northwest 3, later locally 3 to 4 Smooth to Slight

Afternoon Southwest to Northwest 3 to 4, locally 4 Smooth to Slight

Night Southeast to Southwest 3 Smooth to Slight

Ananda Business Network hosts prestigious Anandian Golfers Tournament 2026

The Ananda Business Network (R) successfully hosted the Anandia Golfers Tournament 2026 at the historic Royal Colombo Golf Club on 9 August, bringing together old Anandians from across generations for a day of friendly competition, networking, and camaraderie.

The tournament holds a unique distinction as Sri Lanka’s only golf tournament organised by a single school alumni network, highlighting the enduring bonds and strong sense of community shared among past pupils of Ananda College.

This year’s event attracted 36 participants representing a wide range of age groups and professional backgrounds, united by their common alma mater. The competition was played in the Stableford format, providing an engaging and competitive experience for golfers of varying skill levels.

Following the tournament, participants and distinguished guests attended an evening cocktail reception, which provided an opportunity for fellowship and networking. Among the notable attendees were Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe, and Defence Former Secretary and Old Anandians Sports Club President General Kamal Gunaratne (Retd.), whose presence further underscored the significance of the event within the Anandian community.

Ananda Business Network President Primal Wijenayake noted that the tournament continues to strengthen the connections among Anandians while promoting sportsmanship, networking, and lifelong friendships.

EY GDS Sri Lanka expands Colombo footprint with new office at WTC

EY Global Delivery Services (EY GDS) Sri Lanka, one of the nation’s fastest-growing global capabilities centres with a focus on consulting services, continues its growth journey with the inauguration of a new office on level 22 of the World Trade Center East Tower on 1 September 2026.

The new office expands the existing footprint of EY GDS Sri Lanka at the World Trade Center by an additional floor level, bringing the total presence at the location to three levels, along with the two existing floors. The new facility was inaugurated by EY GDS Global Operations Leader Manesh Patel, who was joined by members of the EY GDS leadership team.

The expansion of EY GDS Sri Lanka’s Colombo operations supports the organisation’s continued growth and strengthens its delivery capabilities across key service areas, including technology, business, risk consulting and assurance. It adds capacity for 110 additional workstations and follows the organisation surpassing the milestone of 500 professionals in the location in recent months.

The new space is complemented by a newly refurbished cybersecurity center on level 20, providing a dedicated, fully equipped facility to support EY GDS Sri Lanka’s growing cyber capabilities. Together, the two spaces represent a significant investment in the organisation’s growing footprint in Colombo, with EY GDS Sri Lanka targeting a doubling of its workforce by 2027.

EY GDS Global Operations Leader Manesh Patel said: ‘This expansion in Colombo is a testament to the strong growth of EY GDS Sri Lanka and our confidence in the exceptional talent based here. It strengthens our ability to scale key capabilities while continuing to provide a collaborative environment for our people to thrive.’

EY GDS Sri Lanka Consulting and Location Leader Sam Rajapaksa added: ‘The expansion of EY GDS Sri Lanka’s Colombo operations is a broader commitment and statement of intent about where we see Sri Lanka’s role within the global EY organisation’s operations. As we work toward doubling the workforce by 2027, investments such as level 22 and the new cybersecurity center offer our people the environment needed to grow and provide Sri Lanka a stronger footing as a regional technology and delivery hub.’

The expansion in Colombo further reinforces Sri Lanka’s growing position as a regional hub for technology and cybersecurity services, supporting employment creation and reflecting the EY organisation’s continued confidence in the country as a strategic talent and delivery location. It comes at a time when Sri Lanka’s technology and business services sector is drawing increasing international attention, with global organisations expanding their presence in the country to tap into its skilled workforce.

Why Sri Lanka’s National Business Facilitation Centre must rewrite rules of FX generation

For decades, Sri Lanka’s macroeconomic discourse has been trapped in (i) a Sisyphean cycle of fiscal firefighting, (ii) emergency balance-of-payments management, and (iii) sovereign debt restructuring. Whenever external shocks hit or foreign reserves fell below critical safety thresholds, the standard state response followed a predictable, reactive playbook: import controls, administrative curbs on capital outflows, ad hoc tax increases, and frantic multilateral negotiations. While these conventional crisis-management practices offer temporary palliative relief, they treat symptoms rather than root causes. They fail to generate sustainable inflows of foreign exchange (FX), suffocating the very private-sector engine required to earn hard currency.

It is against this historical backdrop of systemic paralysis that the Cabinet decision of 24 August-anchored on the President’s decisive proposal to establish a high-powered National Business Facilitation Centre (NBFC) directly under the Presidential Secretariat-marks a potentially watershed moment. For the first time, the highest office in the land is stepping in not merely to regulate economic fallout, but to build a permanent, institutionalised conduit for proactive wealth and dollar creation. If its mandate is executed with uncompromising discipline, the NBFC could become the missing structural link that bridges state vision with private sector dynamism.

Background and genesis: Why bureaucratic red rape stifled inflows

Sri Lanka’s historical failure to attract and retain high-impact foreign direct investment (FDI) and scale export-oriented enterprises is well-documented. Despite boasting high human development indices, strategic geographic positioning, and a literate workforce, the country has continuously underperformed relative to regional peers like Vietnam, Bangladesh, and Thailand. The primary culprit has never been a lack of investor interest or entrepreneurial ingenuity; rather, it is the labyrinthine regulatory ecosystem characterised by fragmented ministerial jurisdictions, overlapping statutory bodies, and profound bureaucratic risk aversion.

An investor proposing a multi-million-dollar export or technology venture in Sri Lanka historically faced a gauntlet of sequential, non-communicating approvals. Environmental clearances from the Central Environmental Authority (CEA), land allocations from the Land Commissioner General’s Department or the Urban Development Authority (UDA), investment registrations with the Board of Investment (BOI), tax clearances from the Inland Revenue Department (IRD), and foreign exchange compliance via the Central Bank all operated in isolated silos. Each agency possessed veto power, but none possessed the overarching mandate or executive authority to drive a project forward. Months and years bled away in waiting rooms, causing international capital to look elsewhere. The NBFC is conceived precisely to dismantle these administrative silos by centralising executive muscle at the apex of government.

Expanding the five core pillars of the NBFC mandate

To deliver true transformation, the scope of the NBFC must expand far beyond traditional business registration. It must operate as an aggressive, outcome-driven economic development engine across five pivotal pillars:

Export manufacturing and global value chain integration

Moving beyond traditional apparel and tea, the NBFC must actively court and unblock high-value manufacturing, specialised electronics assembly, medical devices, and advanced agricultural processing. This involves securing specialised industrial land, guaranteeing stable energy tariffs, and establishing fast-tracked customs green channels that minimise turnaround times for imported raw materials and exported finished goods.

Technology, innovation and knowledge services ecosystem

Knowledge-driven services represent Sri Lanka’s fastest, most scalable FX generation potential. The NBFC must facilitate the rapid expansion of IT/BPM parks, venture capital repatriation frameworks, and digital nomad visas. By eliminating bureaucratic friction around intellectual property licensing and cross-border software service billing, the Centre can position Colombo as South Asia’s premier tech-talent incubator.

High-yield tourism and experiential infrastructure

While tourist arrivals have rebounded, average tourist spend remains suppressed due to infrastructural bottlenecks and limited high-end experiential offerings. The NBFC will streamline approvals for eco-luxury hospitality developments, heritage tourism corridors, and marine tourism infrastructure, ensuring that environmental safeguards are rigorously maintained without stalling investor momentum.

Green energy and sustainable infrastructure transition

Energy security and green compliance are prerequisites for modern export competitiveness. The NBFC must cut through bureaucratic delays plaguing renewable energy projects-solar, wind, and green hydrogen initiatives-by aligning Ceylon Electricity Board (CEB) procurement frameworks with fast-tracked land leasing, immediately unlocking millions in foreign green financing.

Maritime, aviation and regional logistics hub development

Capitalising on Sri Lanka’s maritime choke-point advantage requires seamless port-city integration, bonded warehousing reforms, and digitalised logistics clearances. The NBFC will coordinate directly with port authorities, customs, and civil aviation to create a frictionless transshipment and logistics ecosystem that captures regional supply chain shifts. To achieve this, the framework will implement a single-window digital clearance platform to eliminate bureaucratic delays and reduce container dwell times across all major commercial entry points, while modernising bonded warehousing and free-zone regulations to incentivise multinational value-addition, assembly, and light manufacturing operations locally. Additionally, it will upgrade multi-modal transport corridors to tightly link deep-water container terminals with regional air cargo hubs for expedited sea-air transshipment, foster public-private partnerships to expand state-of-the-art cold-chain storage and specialised handling facilities for perishable and high-value cargo, and align national trade policies with international maritime standards to position Sri Lanka as the premier logistics, bunkering, and ship-repair center in South Asia.

The five strategic goals: Rewriting the rules of engagement

To ensure that FX creation becomes a tangible, ground-level reality rather than a theoretical aspiration, the NBFC will operate under five unyielding strategic goals:

Goal 1: De-siloing State bureaucracy via Presidential executive authority

Mechanism: Establishing direct statutory and executive linkage with the Presidential Secretariat, empowering the NBFC to issue binding directives that supersede inter-ministerial gridlock. No single department can indefinitely stall a national-interest project without executive review.

Goal 2: Compressed timelines from proposal to commercial ground-breaking

Mechanism: Enforcing a strict 90-to-180-day SLA (Service Level Agreement) ceiling for all evaluated projects to move from initial concept submission to complete statutory clearance and ground-breaking, replacing endless bureaucratic deliberation with decisive execution.

Goal 3: Proactive curation and rapid activation of new FX pathways

Mechanism: Shifting from a passive ‘wait-and-see’ investor desk to an aggressive, outward-looking opportunity hunter that identifies global supply-chain relocations and actively packages turnkey investment proposals for international capital.

Goal 4: Systematic friction removal and institutional redress

Mechanism: Establishing an empowered Problem-Solving Task Force within the Centre dedicated to diagnosing and dismantling hidden regulatory, legal, and operational bottlenecks faced by existing and new foreign exchange earners.

Goal 5: Institutionalising a continuous structural reform feedback loop

Mechanism: Translating ground-level operational blockages into actionable legislative and policy recommendations submitted directly to the Cabinet and Parliament, ensuring systemic structural reform keeps pace with global economic evolution.

Comparative institutional analysis: Why NBFC must differ from past regional failures

Skeptics rightly ask: How will the NBFC differ from the Board of Investment (BOI), the Export Development Board (EDB), or specialised single-window attempts tried in South and Southeast Asia that eventually degenerated into bureaucratic agencies themselves?

The structural vulnerability of traditional investment promotion agencies across developing economies lies in their lack of horizontal authority. Typically established as statutory boards under specific ministries (e.g., Ministry of Investment Promotion or Trade), these institutions lack the political clout to compel compliance from powerful line ministries such as Environment, Lands, Power and Energy, or Finance. When an investor faces a jurisdictional dispute between the CEA and the UDA, a traditional agency is forced to lobby other ministries as an equal petitioner rather than an executive arbiter.

The NBFC’s structural differentiator is its direct anchoring within the Presidential Secretariat. In governance architectures characterised by strong executive traditions, proximity to the highest seat of power translates directly into institutional compliance. By wielding delegated presidential authority, the NBFC does not negotiate with obstructive state agencies; it commands administrative alignment. Furthermore, unlike regional counterparts that focus heavily on tax concessions-which often lead to a race to the bottom and revenue leakage-the NBFC is mandated to focus on operational friction reduction. It recognises that serious international capital cares less about tax holidays and more about certainty, speed, and rule-of-law predictability.

Concluding Imperative

Sri Lanka stands at a historic economic crossroads. The harrowing crisis years of the recent past laid bare the unsustainable nature of living from one foreign loan tranche to the next, while choking the dynamic potential of our private sector. The Cabinet decision of 24 August to establish the National Business Facilitation Centre under the Presidential Secretariat is not merely an administrative tweak; it is a profound declaration of intent to replace bureaucratic inertia with unyielding executive resolve.

If managed with visionary leadership, absolute transparency, and ruthless efficiency, the NBFC will permanently consign conventional crisis-management practices to history. It will ensure that foreign exchange creation is no longer a matter of luck or emergency firefighting, but a predictable, systematic, and thriving reality on the ground. The opportunity is finally before us. What matters now -above all else-is how rapidly, courageously, and effectively we use it.

IEA membership puts Nigeria on track to double energy investment

Nigeria could double investment in its energy sector within five years as its new associate membership of the International Energy Agency (IEA) gives the country greater access to global investors, technical expertise and a stronger voice in global energy policy.

Fatih Birol, executive director of the Paris-based agency, said on Thursday during a visit to Abuja that the IEA would use its global network of governments, energy companies and investors to help Nigeria unlock capital for oil, gas, power and solar projects.

‘My goal is, in a very short period of time, in five years, at least doubling the energy investments Nigeria is receiving today,’ Birol told BusinessDay.

He said the agency’s support would extend beyond its new relationship with Nigeria, with the IEA working directly with the government to identify investment opportunities, provide policy advice, build technical capacity and connect Nigeria with investors through its international network.

‘We are working on a joint work program where we see in which areas we can support Nigeria,’ Birol said.

Nigeria, Africa’s largest oil producer, has vast untapped resources but has struggled for years to attract sufficient capital to expand production, develop its gas resources and improve electricity supply. The government is targeting oil output of almost 3 million barrels a day by 2030 and is relying on reforms, infrastructure upgrades and improved security to revive investment and curb crude theft.

Birol said Nigeria’s admission into the IEA family could provide an additional signal to international investors that the country is becoming a more credible and reliable energy partner. The agency’s members, including the US, Germany, Italy and Japan, unanimously approved Nigeria’s associate membership in July.

A joint work programme between Nigeria and the IEA will cover natural gas, electrification, clean cooking, energy efficiency and energy data, while Nigerian officials will have opportunities for training and technical cooperation with the agency.

Better energy data could be particularly important for investment, as investors and market participants have long complained about gaps and inconsistencies in data on oil production, exports and domestic consumption. Improving the quality and transparency of that information would make it easier for investors to assess projects and risks.

According to Birol, the joint work programme which will also cover energy data development, will enable Nigeria work with the IEA to strengthen its energy data collection and reporting systems

Birol said geopolitical tensions and disruptions around major energy routes are also changing the way governments assess energy partnerships. The uncertainty around the Strait of Hormuz has encouraged countries to review their energy strategies and place greater value on suppliers that can be relied upon to deliver, he noted.

‘Many countries around the world are reviewing their energy strategies, and when they review energy strategies, one of the most important criteria in terms of partnerships [is] whether or not this country is a reliable country, trustworthy country, and whether or not they will provide energy on time,’ he said.

That shift could benefit Nigeria by reducing competition from some Middle Eastern producers facing difficulties moving their oil, Birol said. Nigeria’s ability to supply global markets, coupled with its large resource base, could make it an increasingly attractive partner for investors in Asia and Europe.

But Nigeria will still need to address domestic obstacles that have discouraged long-term capital. Birol said the country must maintain predictable policies, transparency and a stable investment framework if it wants companies to commit more money.

‘I think we should continue to show the predictability of the Nigerian energy sector,’ he said. ‘The more predictability, the more transparency is there, the better it is for the companies to come.’

He said President Bola Tinubu’s administration had made significant efforts on reforms and that Nigeria’s association with the IEA offered another advantage in demonstrating the country’s commitment to a more predictable energy sector.

Birol also pointed to the Dangote refinery as an example of how Nigeria and other African countries can capture more value by processing resources at home rather than exporting raw materials.

He said many African countries were exporting critical minerals in their raw form to countries where they were processed and sold at much higher values. Africa, he argued, should develop domestic processing industries and retain more of the economic benefits.

Dangote’s refinery, he said, demonstrated what was possible, as its jet-fuel exports have helped supply European markets during a difficult period, showing how domestic processing can turn Nigeria’s resources into higher-value products for global consumers.

‘Instead of selling the raw material for 25,’ Birol said, using the refinery as an example of the value African economies could capture through processing.

Beyond hydrocarbons, he identified solar power as another major opportunity. Nigeria is exploiting only a small fraction of its solar potential, he said, despite its ability to provide electricity to millions of people.

The country’s energy-access challenge remains significant. About 65% of Nigerians still lack access to clean cooking, while roughly 65 million people have access to electricity, according to figures Birol cited during the interview.

Clean cooking, electrification and energy efficiency will therefore be key measures of the IEA-Nigeria partnership over the next year. Birol said the agency would establish milestones with the government and assess whether agreed targets are being delivered.

For Africa, he urged governments to combine their natural-resource wealth with domestic processing, stronger energy systems and policies that can attract long-term investment.

Five years from now, Birol said he wants to see Nigeria’s energy investment doubled, major progress on clean cooking and electricity access, and Nigeria playing a stronger role in international energy discussions.

With more than 240 million people and major oil, gas and solar resources, Nigeria, he said, has the potential to become both a more important energy supplier and a stronger African voice at the global table.

President says Govt. will not hesitate to amend Constitution to fight crime

President Anura Kumara Dissanayake yesterday said that his Government would not hesitate to introduce Constitutional amendments it considers necessary to combat drug trafficking and crime and build a more peaceful country.

Speaking at an event marking the 160th anniversary of the Sri Lanka Police, the President said the Government had taken steps to strengthen the process of bringing suspects to justice but acknowledged delays between arrests and punishment.

He said Police had carried out a record number of drug raids over the past two years, but arrests would have little impact if legal proceedings and sentencing continued to take too long.

‘Criminals know that punishment is delayed,’ the President said, stressing the need for all institutions involved in the justice process to work more efficiently.

The President acknowledged that Police officers conduct investigations at considerable personal risk. However, he pointed out that by the time investigations are completed, reports are submitted to the Attorney General’s Department, and judicial proceedings are concluded, investigating officers often reach retirement age. He therefore stressed the need to expedite not only investigations but also the judicial process, so that offenders are brought to justice without undue delay.

He also acknowledged that the public has concerns about what happens to seized drugs and suspects following arrests, noting that people expect offenders to receive appropriate punishment through the courts after proper cases are filed.

The President emphasised that delays in the judicial process must be addressed and that all institutions involved in the administration of justice must be strengthened. He noted that failure to impose appropriate punishment for crime within a reasonable period could encourage further criminal activity.

The President said the Government had already introduced laws aimed at improving the process and had decided to make all relevant processes more efficient, adding that the necessary legislation and infrastructure would be provided to achieve this objective.

He reiterated that, if Constitutional amendments were required to protect the public, the country, and the younger generation, the Government would not hesitate to introduce them.

‘We will not hesitate to make the necessary Constitutional amendments,’ he said.

The President assured the Police that the Government was committed to transforming Sri Lanka from a State affected by crime into a peaceful nation.