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Mixta Africa has canvassed a housing delivery system to tackle Nigeria’s widening deficit at scale, arguing that housing interventions must shift to building the delivery system.

The company, which opened for business over 20 years ago, is a leading pan-African real estate developer with over 30,000 home units delivered across Nigeria, Senegal, Tunisia, Morocco and Côte d’Ivoire.

Tola Akinsulire, its Group Chief Commercial Officer, lamented recently that Nigeria has treated housing as isolated interventions focused on mortgages, without addressing the underlying delivery ecosystem.

‘What has worked elsewhere is a system that addresses both the supply and demand sides. In Morocco, we delivered 4,393 units on a single site because the government created that system,’ he said.

Tola spoke at the Africa PropTech Priority Summit (APPSUMMIT 2026) organised by Proptech Roundup with the theme, ‘Public-Private Partnerships for Large-Scale Housing Delivery: Unlocking Housing at Scale Through Collaboration.’

He recalled that in 2010, under Morocco’s housing programme, participating developers who committed to building at 250,000 Dirhams and meeting a target of 500 units in five years were offered tax credits across the value chain, including cement and company income tax.

‘On the demand side, buyers of qualifying homes were exempted from VAT and supported by a government-backed guarantee scheme that covered up to 70 percent of the lender’s credit risk that kicks in after default. That made banks willing to lend and buyers able to buy. That is how you create a market – engineered on both the supply and demand sides,’ Akinsulire explained.

On PPPs in Nigeria, Akinsulire said governments must be clear if a PPP is a monetisation or intervention strategy, noting: ‘if it is primarily a monetisation strategy, the private developer will ordinarily be expected to bear more of the commercial risk.

But if it is an intervention intended to deliver affordable housing for civil servants, for example, government must be prepared to absorb some of the cost – through infrastructure, land or other support – and agree on a realistic price point’

He stressed that for PPPs to deliver at scale, three things are critical: trust, buyer affordability, and developer capability. ‘The Federal Ministry of Housing’s Housing Delivery Framework in January and its subsequent policy framework later in the year address trust and affordability, but we are not addressing how to enhance developer delivery capacity. If people have money and there are no houses to buy, we still have the same problem,’ he said.

Akinsulire welcomed innovators into the real estate value chain, affirming that: ‘Technology must either reduce friction or reduce risk, from land titling, to approvals, construction monitoring, sales and off-plan finance.

Olajumoke Akinwunmi of Alitheia Capital highlighted lack of structured engagement, framework and trust as the biggest missing links in PPPs. ‘We need collaboration among ourselves and ready projects, not just land banks.

Often, after the handshake, you get to site and still deal with Omo Onile, compensation, and unbuildable portions. That is not a ready project. We also need transparent procurement and to build a local industrial base.

We are dealing with a housing challenge affecting roughly 30 million units – comprising a deficit of about 15 million homes and more than 15 million existing homes that are structurally inadequate or substandard,’ she said.

Odunayo Ojo, UPDC’s CEO, described housing as fundamentally an economics problem: rising government rates, low-income levels and the need for incentives. ‘Rates and charges have tripled this year, yet we say we want cheaper housing.

We need tax breaks and pioneer status incentives for housing like other industries. In the interim, we must encourage build-to-rent because many Nigerians cannot afford to buy, even on zero-interest mortgages, due to low incomes. And we must collaborate to cut overheads,’ he advised.

Nigeria’s efforts to sustain foreign-exchange stability and strengthen economic growth will depend partly on its ability to increase crude oil production, protect oil assets and translate export earnings into stronger external reserves and improved dollar inflows.

For the banking and finance sector, a sustained recovery in oil production could support foreign-exchange market stability, improve confidence in the naira and create a more predictable operating environment for businesses that depend on imported inputs and foreign-currency transactions.

Crude oil remains a major source of Nigeria’s foreign-exchange earnings, making production volumes and export receipts important to the country’s external position and capacity to meet foreign-currency obligations.

The link between oil production and financial stability is particularly important as Nigeria seeks to move from macroeconomic stabilisation towards stronger private-sector investment, improved household welfare and more inclusive economic growth.

According to PwC Nigeria’s report, ‘Unlocking Nigeria’s reform dividend: From macroeconomic stabilisation to inclusive growth,’ the country entered the second half of 2026 from a stronger macroeconomic position, supported by greater foreign-exchange stability, moderating inflation, stronger external reserves, higher revenue mobilisation and increased capital inflows.

The report stated that Nigeria’s real Gross Domestic Product grew by 3.89 percent year-on-year in the first quarter of 2026, supported by information and communications technology, finance and insurance, construction and agriculture.

Headline inflation moderated to 15.91 percent in June, while the naira remained broadly stable at N1,379.68 per dollar. Gross foreign reserves rose by 38.3 percent year-on-year to $51.46 billion in June, providing a stronger external buffer and supporting confidence in the foreign-exchange market.

Despite these improvements, PwC noted that household affordability remained under pressure, private-sector financing conditions were still tight, and economic growth remained concentrated in a relatively narrow group of sectors.

These challenges underline the importance of sustaining foreign-exchange stability and improving financing conditions for businesses seeking to expand production, invest in infrastructure and create jobs.

Oil production and foreign-exchange stability

Nigeria’s dependence on crude oil exports for a significant share of its foreign-exchange earnings makes oil production an important factor in the performance of the naira and the accumulation of external reserves.

Higher production could increase export receipts, provided the additional volumes are sold and the proceeds are realised. This could strengthen dollar inflows and support the external position, particularly when international oil prices remain favourable.

For businesses and financial institutions, a more stable foreign-exchange environment could improve confidence in the market and make it easier to plan transactions involving imported goods, equipment and other foreign-currency payments.

However, the impact of higher production will depend on several factors, including international oil prices, production costs, export volumes and the extent to which additional earnings translate into foreign-exchange inflows.

PwC warned that the naira would remain exposed to movements in oil prices, capital flows and domestic foreign-exchange demand, despite the improvement in external buffers and ongoing market reforms.

This suggests that sustaining foreign-exchange stability will require more than higher oil output. Consistent reforms and effective management of external earnings will also be important.

Implications for banks and private-sector financing

Foreign-exchange stability is relevant to the banking sector because businesses operating in Nigeria rely on predictable currency conditions to manage costs, meet payment obligations and plan investments.

When foreign-exchange conditions improve, businesses may find it easier to plan transactions involving imported raw materials, equipment and other inputs. This could support business activity and investment, particularly in sectors that depend on imports.

Conversely, persistent currency uncertainty can complicate business planning and place pressure on companies facing higher import costs.

PwC identified tight private-sector financing conditions as one of the challenges confronting Nigeria’s economy despite improvements in macroeconomic indicators.

The report argued that the next phase of the reform process should focus on translating macroeconomic gains into stronger household incomes, higher productivity, more jobs and broader-based economic growth.

For banks, this highlights the importance of an operating environment in which businesses can access finance and use it productively. Improved foreign-exchange stability could support this process, although the report does not establish a direct link between higher oil production and lower bank lending risks.

Monetary policy, inflation, fiscal pressures and the availability and cost of credit will continue to influence financing conditions.

PwC expects monetary policy to remain relatively tight, with room for gradual interest-rate reductions if the decline in inflation is sustained. It also noted that government financing requirements and continued spending needs could maintain fiscal pressures.

Consequently, higher oil production could support the broader macroeconomic environment, but it would not automatically guarantee lower lending rates or wider access to credit.

Oil asset protection remains critical

The ability to sustain higher production depends partly on protecting oil infrastructure, reducing theft and preventing disruptions to production and transportation.

Tantita Security Services Nigeria Limited has been involved in pipeline surveillance and oil asset protection in the Niger Delta since 2022, working alongside other security outfits to secure oil facilities and address illegal activities.

The company has said its operations have contributed to improved pipeline security, reduced oil theft and increased economic activity in oil-producing communities.

Speaking on the sidelines of an award presented to Tantita by Blueprint Newspapers, the company’s Media Consultant, Paul Bebenimibo, said the company remained committed to supporting efforts to increase Nigeria’s crude oil production to 2.5 million barrels per day.

He attributed the company’s progress partly to the leadership and knowledge of the Niger Delta terrain possessed by its chairman, Government Ekpemupolo, popularly known as Tompolo.

Bebenimibo also disclosed that Tantita had deployed drones to monitor activities in the creeks and detect illegal operations.

Beyond surveillance, he said the company had employed more than 60,000 youths, paid monthly, and introduced skills acquisition programmes and other empowerment initiatives for members of host communities.

According to him, the combination of employment, skills development and community support had contributed to reducing criminal activities in parts of the Niger Delta.

The company has maintained that protecting oil infrastructure and creating economic opportunities in host communities are important to sustaining production and supporting national development.

For Nigeria’s financial system, the broader economic significance of these efforts lies in their potential to help sustain oil output and the foreign-exchange earnings associated with exports.

However, the extent of the financial benefits will depend on actual production performance, export receipts and the management of the resulting revenues.

Production targets and economic growth

The Petroleum and Natural Gas Senior Staff Association of Nigeria has also pledged to work with the Nigerian Upstream Petroleum Regulatory Commission to increase crude oil production to three million barrels per day by 2030.

The commitment was disclosed by the union’s new president, Bosun Olabiyi-Agoro, during a visit to the commission’s corporate headquarters.

According to a statement signed by Eniola Akinkuotu, head of media and corporate communications at NUPRC, the union also raised issues concerning workers’ rights to associate freely and contract staffing.

The production ambition comes as Nigeria seeks to strengthen economic growth and improve the contribution of the oil sector to national revenue and foreign-exchange earnings.

The Federal Government’s 2026 real GDP growth target ranges between 4.1 percent and seven percent in the supplied material, although forecasts differ among institutions.

The World Bank projects growth of 4.4 percent, while the International Monetary Fund forecasts 4.1 percent. PwC Nigeria estimates growth of 4.2 percent, while the Federal Government targets approximately 4.68 percent. The Lagos Chamber of Commerce and Industry has expressed a more ambitious outlook of up to seven percent.

These projections highlight the uncertainty surrounding the growth outlook and the importance of sustaining performance across major sectors, including oil.

Higher crude production could support economic activity through export earnings and government revenue. However, achieving stronger and more inclusive growth will also require improvements in productivity, infrastructure, access to finance and the performance of non-oil sectors.

Beyond oil production

While oil production remains important to Nigeria’s external position, PwC noted that the country faces domestic and external risks that could influence its economic performance in the second half of 2026.

These include food-price pressures, potential supply-side shocks, pre-election spending, geopolitical tensions, energy-market volatility and weaker global growth.

The report also emphasised the importance of improving domestic energy supply and distribution to ease cost pressures on households and businesses.

In April 2026, energy prices rose year-on-year, led by diesel at 43.67 percent and kerosene at 34.12 percent. Premium Motor Spirit prices increased by 23.69 percent, while liquefied petroleum gas rose by 10.43 percent.

PwC said higher diesel and petrol prices increase transport, logistics and business operating costs, while rising kerosene and cooking gas prices put pressure on household energy spending.

Expanding domestic refined-product supply, reducing distribution bottlenecks and sustaining foreign-exchange stability could help moderate some of these pressures.

For banks, improved macroeconomic conditions would be more beneficial if they translated into stronger business activity, more predictable operating costs and improved financing opportunities across productive sectors.

Nigeria stands today at a decisive inflexion point in its democratic journey. The nation’s political landscape is increasingly defined not by the loudness of electoral participation but by the silence of abstention. The politics of no-vote-often dismissed as apathy-has matured into a potent political signal, a collective expression of disillusionment, distrust, and frustration with a system perceived as unresponsive to the needs of its people. This phenomenon is not merely a democratic inconvenience; it is a structural warning that Nigeria’s political and economic foundations are under strain.

In a country where economic development and sustainability are urgent imperatives, the rise of no-vote politics threatens to weaken the very mechanisms required to achieve national progress. Democracy thrives on participation, legitimacy, and accountability. When citizens withdraw their consent through abstention, the democratic engine slows, governance becomes fragile, and economic transformation becomes increasingly elusive. Nigeria must therefore confront this challenge with intellectual honesty, institutional courage, and strategic foresight.

Understanding the politics of no-vote

The politics of no-vote is not a passive act of indifference. It is an assertive political stance rooted in accumulated disappointments. Many Nigerians have come to believe that voting does not produce meaningful change, a perception shaped by decades of electoral irregularities, unfulfilled promises, and governance failures. The ballot box, once a symbol of hope, has become for many a symbol of futility.

This disillusionment is particularly pronounced among the youth, whose political energy has migrated from polling units to digital platforms. Social media has become a theatre of civic expression, where frustrations are aired, movements are mobilised, and alternative visions of governance are debated. Yet this digital vibrancy contrasts sharply with declining physical participation in elections. The youth, who constitute a significant portion of Nigeria’s population, now engage politically without engaging electorally.

Regional disparities further complicate the landscape. Communities that feel historically marginalised or economically neglected often abstain from voting as a symbolic protest. Their silence is a message: the system does not serve them, and participation feels pointless. When such sentiments become widespread, they weaken national cohesion and erode the legitimacy of democratic institutions.

The economic consequences of no-vote politics

Democracy and economic development are inseparable. A disengaged electorate produces leaders with weakened mandates, undermining the stability required for economic growth. Investors-both domestic and foreign-monitor voter turnout as an indicator of political stability. Low participation signals uncertainty, discouraging long-term investments and slowing economic progress.

Policy continuity, essential for sustainable development, becomes fragile when electoral outcomes are shaped by disengagement rather than robust participation. Leaders elected by a minority of eligible voters often struggle to implement transformative policies, lacking the broad public mandate necessary for bold reforms. This fragility disrupts long-term planning, weakens institutions, and creates an environment where economic policies are easily reversed or abandoned.

Political disengagement also erodes accountability. Leaders who do not fear electoral consequences may become complacent, allowing corruption to flourish. Corruption undermines economic development, widens inequality, and perpetuates poverty. Communities that abstain from voting lose political leverage, becoming invisible in policy formulation and resource allocation. Their economic marginalisation deepens, creating a vicious cycle of disengagement and deprivation.

Thought processes behind no-vote behaviour

To address the politics of no-vote, Nigeria must understand the psychological and social dynamics that drive it. Many citizens believe their votes do not count, a perception reinforced by historical electoral malpractice. Others feel that all politicians are indistinguishable, lacking ideological diversity or moral distinction. This belief fosters cynicism and discourages participation.

Another prevailing thought is that democracy has not improved daily life. Citizens judge governance by tangible outcomes-jobs, security, infrastructure, fairness. When these outcomes remain elusive, democracy itself becomes suspect. The perception that the system is rigged against ordinary people further fuels disengagement, creating a sense of powerlessness.

Digital participation also shapes no-vote behaviour. Many young Nigerians feel more empowered through online activism than through voting. Social media provides immediate visibility and influence, whereas electoral participation feels distant and ineffective. This shift in civic engagement must be understood and addressed if Nigeria is to revitalise its democratic culture.

The link between democracy, economic development, and sustainability

Nigeria’s democratic health cannot be separated from its economic realities. Sustainable development requires stable institutions, predictable policies, and inclusive growth. Democracy provides the framework for these outcomes, but only when citizens participate meaningfully. A disengaged electorate weakens institutions, undermines policy continuity, and erodes public trust.

Economic development thrives in environments where the rule of law is respected, public institutions are transparent, and leadership is accountable. These conditions attract investment, stimulate innovation, and promote equitable growth. Sustainability, in turn, demands responsible resource management, climate-resilient infrastructure, and long-term planning. Nigeria’s vast natural resources, youthful population, and emerging digital economy offer immense potential, but this potential cannot be realised without a stable and participatory democratic system.

Solutions: Re-engineering Nigeria’s democratic and economic future

Nigeria must adopt a comprehensive strategy to reverse the politics of no-vote and strengthen democratic sustainability. Rebuilding trust in electoral processes is paramount. Transparent systems, secure digital technologies, and strong institutional independence are essential. Electoral malpractice must be met with strict penalties, and real-time monitoring should be made accessible to the public to enhance transparency.

Civic education must be revitalised. Citizens need to understand how voting influences economic outcomes and national development. Schools, religious institutions, and digital platforms should be leveraged to promote democratic participation. Influencers and community leaders can play a vital role in reshaping public perceptions of voting.

Governance performance must improve. Citizens disengage when leadership fails to deliver. Governments must prioritise policies that directly impact daily life-job creation, security, healthcare, and infrastructure. Performance-based governance metrics and quarterly scorecards can enhance accountability and rebuild trust.

Economic reforms are critical for inclusive growth. Nigeria must expand opportunities in the digital economy, strengthen small and medium-scale enterprises, and implement regional development plans to reduce inequality. Green industries and sustainable agriculture should be promoted to align economic growth with environmental stewardship.

Technology offers powerful tools for democratic sustainability. AI-driven platforms can facilitate public consultations, while blockchain can enhance transparency in public finance. Digital town halls can bridge the gap between leaders and citizens, fostering dialogue and trust.

Essentially, Nigeria must strengthen its social contract. National unity requires inclusive dialogue, recognition of historical grievances, and the promotion of shared national narratives. Democracy thrives when citizens feel heard, valued, and included.

A new democratic imagination for Nigeria

Nigeria stands at a crossroads. The politics of no-vote is a warning sign, signalling that citizens are losing faith in the democratic process. To build a sustainable future, Nigeria must re-imagine democracy as a continuous, participatory, and economically productive system. A sustainable democracy is one where citizens feel heard, leaders are accountable, institutions are strong, and economic opportunities are widespread.

The next chapter of Nigeria’s democratic evolution will depend on whether the nation can transform no-vote politics into renewed civic engagement and align democratic governance with economic development and sustainability. The stakes are high, but the possibilities are immense. Nigeria must seize this moment to build a democracy that works, an economy that grows, and a future that endures.

Conclusion

The politics of no-vote is not a trivial trend; it is a profound democratic alarm. Nigeria cannot afford to ignore it. The nation’s economic aspirations, sustainability goals, and democratic stability depend on revitalising citizen participation. A democracy without voters is a democracy without legitimacy, and a nation without legitimacy cannot build a resilient economy or a sustainable future.

Nigeria must therefore confront this challenge with urgency and resolve. By rebuilding trust, strengthening institutions, enhancing governance performance, and expanding economic opportunities, the nation can transform political disengagement into renewed civic energy. The future of Nigeria’s democracy-and its economic destiny-depends on the choices made today.

.Ademola is first African Professor of Cybersecurity and Information Technology Management; Global Education Advocate; Chartered Manager; UK Digital Journalist; Strategic Advisor and Prophetic Mobiliser for National Transformation; Public Intellectual; African Governance Thinker; General Evangelist, CAC Nigeria and Overseas.

Access Bank Plc has elevated Oluseyi Kumapayi to Deputy Managing Director, African Subsidiaries, and appointed Olanrewaju Bamisebi as Executive Director, Information Technology and Digitalisation, as part of a leadership restructuring aimed at improving profitability, capital efficiency, and operational performance across its banking operations.

The appointments, which took effect on October 27 and 28, 2026, respectively, follow approval by the Central Bank of Nigeria (CBN), according to a notification filed by Access Holdings Plc with the Nigerian Exchange Limited.

The changes come as Access Holdings shifts its strategic focus from expanding its banking footprint to extracting greater value from its existing operations, particularly its African subsidiaries, while strengthening technology integration within its flagship banking business. Kumapayi, who previously served as Executive Director, African Subsidiaries, will retain responsibility for the bank’s African operations in his new position, with an expanded mandate to improve subsidiary profitability, capital productivity, operational efficiency and cross-border business integration.

His elevation underscores the growing importance of Access Bank’s African franchise to the group’s earnings strategy, as the lender seeks to translate its established presence across the continent into stronger financial returns.

With more than 25 years of banking experience, Kumapayi joined Access Bank in 2002 and served as Group Chief Financial Officer between 2007 and 2020. He assumed responsibility for the bank’s African subsidiaries in November 2020.

His previous responsibilities spanned financial management, strategy, risk, treasury and business development, experience expected to support the group’s efforts to improve the financial contribution of its overseas operations.

The second appointment sees Bamisebi move from Access Holdings to the board of Access Bank, bringing executive responsibility for information technology and digitalisation directly into the bank’s operating structure.

The restructuring signals a shift towards closer alignment between technology investments and the bank’s commercial priorities, including revenue generation, customer experience, cost management and operational resilience.

Bamisebi, who has more than 20 years of experience in technology transformation, digital banking and enterprise systems, previously led technology strategy and shared technology services at Access Holdings.

In his new role, he will oversee the modernisation and simplification of technology platforms, cybersecurity, operational resilience, and the deployment of digital solutions to improve customer experience and business performance.

His experience includes senior leadership positions at Equity Group Holdings, where he served as Group Director of Information Technology and Operations and Managing Director of Finserve Africa. He also previously served as Group Chief Information Officer at Diamond Bank.

Commenting on the appointments, Aigboje Aig-Imoukhuede, group chairman of Access Holdings, said the group was now focused on converting its extensive banking presence into stronger financial performance and sustainable shareholder value.

‘Access Holdings has built a substantial banking franchise across Africa and beyond. Our strategic priority is now to translate that scale into superior performance, greater efficiency, stronger returns on capital and sustainable value for shareholders,’ he said.

He said Kumapayi’s elevation would strengthen the group’s efforts to improve the performance of its African subsidiaries, while Bamisebi’s appointment would bring technology leadership closer to the bank’s operations, customers and commercial priorities. According to Aig-Imoukhuede, clearer accountability, stronger execution and disciplined investment in technology would be critical to the group’s next phase of development.

Roosevelt Ogbonna, managing director and chief executive officer of Access Bank, said the lender was prioritising productivity, efficiency, and profitability through better deployment of capital, technology and its existing market presence.

‘Across our African subsidiaries, the emphasis will be on improving returns, strengthening execution and capturing greater value from our existing franchise,’ Ogbonna said.

He added that the bank would focus on simplifying technology platforms, improving reliability, accelerating innovation and delivering better customer outcomes at a lower cost to serve.

Sanjo Faniyan, Food and Agriculture Organization (FAO) National Consultant on Food Security and Food Systems analyst, has said that Nigeria was making significant progress in implementing the United Nations Food Systems Transformation pathways.

Faniran, who is the immediate past National Convenor for the Implementation of UN Food Systems Transformation in Nigeria, spoke on the sidelines of the Southwest Zonal Review Meeting held in Lagos.

According to him, the food systems transformation initiative started in 2021 on the recommendation of the UN Secretary-General, directing member countries to examine issues affecting their food systems.

‘The food system is the interconnectedness of all the food value chains. It’s not only agriculture; we are looking at all the food value chains. Nigeria went around all the states and came up with recommendations which were presented by President Muhammadu Buhari in New York on September 23, 2021,’ Faniran explained.

He noted that it was thereafter agreed that every two to three years, there would be a review of implementation by all UN member countries. The first review was held in 2023 and the second in 2025, both led by Vice President Kashim Shettima.

On implementation so far, Faniran said: ‘So far so good. States have cooperated.’

He disclosed that to ensure nationwide coverage, the country adopted a geopolitical zonal arrangement with one coordinating state per zone – Lagos for South-West, Kano for North-West, Borno for North-East, Enugu for South-East, Cross River for South-South and Kwara (Ilorin) for North-Central.

‘With this arrangement, it is easy to decentralize coordination. The report on implementation will be obtained from the coordinating states and all states in the zone will come together to give information on what they have done so far, where are the gaps, capacity requirements and how the federal government and development partners can support,’ he said.

Faniran stressed that the focus goes beyond production to processing, storage and other components of the food value chain, adding that Nigeria has been ranked by the UN Food Systems Coordination Hub in Rome as one of the serious and committed countries.

Speaking on post-harvest losses, he said storage remains a major concern of the current administration. ‘The issue of storage has become very important. At the Federal Ministry of Agriculture, it is taken as an important segment of controlling food wastages. Lagos State is an example – it has created market hubs where agric products that would have been destroyed are taken for people to buy, sometimes subsidised by government,’ he said.

On how food systems translate to health, he noted that the end product of the food system is healthy diets and nutrition. ‘We are looking at food systems from farm to dining table. At the dining table, the food should be healthy. Good diet gives improved nutrition; improved nutrition improves human capital capacity. When you are healthy, productivity level is higher and contribution to economic growth is guaranteed,’ Faniran stated.

He also said the issue of insecurity affecting farming is being taken seriously by President Bola Tinubu, noting that recent presidential directives show renewed commitment to secure farmers and farming communities.

Isiaka Ibrahim, Food Systems and Nutrition Specialist with the FAO of the United Nations, said tangible steps have been taken by the Federal Government in collaboration with technical partners to transform Nigeria’s food systems.

He said after the 2021 zonal dialogues which culminated in the development of Nigeria’s Food Systems Pathways, 78 priorities were set for implementation.

‘This is a collaborative effort that all stakeholders participated in, including government. Secondly, the Federal Government validated the National Agric Food Investment Plan. Even if tangible transformation is not yet fully seen, key steps have been taken by government in collaboration with technical partners like FAO,’ he said.

Ibrahim noted that globally, the focus is now on technology, climate-smart agriculture, precision agriculture and innovation, including school farms and rooftop farming, as against practices that degrade the soil.

‘The way to go is to embrace technology and innovation and at the same time ensure facilities and infrastructure are in place to ensure timely processing and availability of all-year-round food,’ he said.

He disclosed that FAO is one of four key UN agencies implementing the Agrifood Systems Transformation and Innovation Project initiated by the Food Systems Coordination Hub in Rome, alongside UNICEF and others.

‘One of the key result areas is strengthening of food systems coordination in the country and that is what FAO is implementing. We want to take stock of progress Nigeria has made since the 2021 stock-taking and development of pathways – what achievements have been made by the coordinating states, what are the challenges, capacity gaps and how to develop state capacity, because implementation of food systems is actually at sub-national level,’ Ibrahim added.

Kwara State Governor, Abdulrahman Abdulrazaq, has approved the appointment of governing councils for eight state-owned tertiary institutions and nine other government agencies to strengthen professionalism and improve service delivery.

In a statement signed by Mashood Abdulrafiu Agboola, Deputy Chief Press Secretary, the affected institutions include: the Kwara State Scholarship Board; International Vocational, Technical and Entrepreneurship College (IVTEC), Ajase-Ipo; Kwara State Polytechnic, Ilorin; International Aviation College, Ilorin; College of Nursing Sciences, Ilorin; College of Education, Oro; College of Education, Ilorin; College of Nursing Sciences, Oke-Ode; and Kwara State Agency for Mass Literacy.

Other agencies covered are the Kwara State Primary Healthcare Board; Kwara State Rural Water Supply and Sanitation Agency (RUWASSA); Kwara State Road Traffic Management Authority (KWARTMA); Kwara State Rural Electrification Board; Kwara State Social Investment Programme (KWASSIP); Kwara State Housing Corporation; Kwara State Environmental Protection Agency (KWEPA); and Kwara State Signage and Advertisement Agency (KWASAA).

Former presidential candidate, Gani Galadima, will chair the governing council of IVTEC, Ajase-Ipo, while Ahmed Ameen Funsho will head the 17-member Kwara State Scholarship Board.

Musa Yeketi has been appointed chairman of the Kwara State Polytechnic governing council, while Adua Ismail Mustapha, Nigeria’s first Professor of Aviation Law, will chair the council of the International Aviation College, Ilorin. Both councils have six members each.

Amudipe Christiana Titilayo will chair the governing council of the College of Nursing Sciences, Ilorin, while Gezinde Adedeji Amosa and Engineer Muhammadu Suno Gofe will head the councils of the Colleges of Education in Oro and Ilorin, respectively. Each of the councils comprises six members.

The Chartered Institute of Bankers of Nigeria (CIBN) has called on recapitalised banks to expand access to affordable, long-term financing for small businesses as Nigeria seeks to translate N4.65 trillion in fresh bank capital into industrial growth, job creation and economic transformation.

The Institute said the success of the banking sector’s recapitalisation exercise would depend on how effectively lenders deploy their stronger capital base to support manufacturing, agriculture, infrastructure and small and medium-sized enterprises (SMEs), rather than focusing mainly on balance sheet growth.

Dele Alabi, president and chairman of council of the CIBN, made the call at the Institute’s 2026 Fellowship Investiture Ceremony in Lagos on Saturday, where he said Nigeria had reached a critical stage in its financial sector reforms.

Following the completion of the recapitalisation programme in March 2026, the banking sector mobilised N4.65 trillion in fresh capital, with 33 banks meeting the new minimum capital requirements.

‘The question before us is no longer whether our banks have sufficient capital, but whether that capital will translate into new industries, expanded businesses, better infrastructure, thriving SMEs, sustainable jobs, and shared prosperity,’ Alabi said.

He said Nigeria had an opportunity to deploy the enhanced capital towards manufacturing, agriculture, infrastructure, energy, technology and other productive sectors.

The call comes amid concerns about the allocation of bank credit, particularly to manufacturing, where lending declined by 33.8 percent from N8.53 trillion in December 2024 to N5.65 trillion in August 2026, according to a presentation by Tayo Aduloju, chief executive officer of the Nigerian Economic Summit Group (NESG), at the same event.

Manufacturing’s share of total bank credit also fell from 17.4 percent in December 2023 to 8.7 percent in August 2026, while average credit to trade and commerce increased by 49 percent year-on-year to N5.9 trillion between January and August 2026.

The figures highlight the challenge facing policymakers and lenders as they seek to ensure that stronger bank balance sheets translate into productive investment and wider access to finance for businesses.

Aduloju said the recapitalisation exercise had strengthened banks’ lending capacity, but high borrowing costs, liquidity constraints, credit risks and the mismatch between short-term deposits and long-term industrial projects continued to limit financing for productive sectors.

Although the Central Bank of Nigeria reduced its monetary policy rate to 23 percent in September 2026, bank lending rates remained between 19 percent and 32.6 percent, according to the NESG presentation.

Government borrowing also continued to compete with private businesses for available funds. Credit to the government increased by 63 percent year-on-year to N39.4 trillion in September 2026, compared with 16 percent growth in private-sector credit to N83.9 trillion.

Aduloju argued that Nigeria’s industrial financing challenge was not simply a shortage of capital, but the fragmented way existing financial institutions mobilise and deploy funds.

He proposed a more coordinated financing framework involving commercial banks, pension funds, insurance companies, development finance institutions and credit guarantee institutions to expand access to long-term capital and reduce lending risks.

The NESG also recommended credit guarantees, interest rebates and tax incentives to encourage lending to productive sectors, alongside improved access to financing for businesses that lack conventional collateral.

Speaking at the event, Babajide Sanwo-Olu, governor of Lagos State, similarly urged recapitalised banks to develop more accessible credit products for smaller businesses, support industrial clusters, finance equipment acquisition and strengthen supply chains linking small enterprises to larger markets.

He said government intervention alone could not meet the financing needs of Nigeria’s growing business community, stressing the need for stronger collaboration between government, financial institutions and private investors.

Sanwo-Olu pointed to opportunities around the Lekki Deep Sea Port, industrial activities along the Lekki corridor, infrastructure investments and the Lagos State Electricity Law as areas where stronger bank participation could unlock private investment, improve productivity and create jobs.

He also highlighted the role of the Lagos State Employment Trust Fund in supporting entrepreneurs through access to finance, enterprise development and capacity building.

Alabi said the CIBN would continue to promote practical solutions to the financing challenges facing smaller businesses. The Institute is scheduled to host its CIBN MSME Forum on December 1, 2026, to advance discussions on expanding access to finance and accelerating enterprise growth.

The Institute is also advocating the establishment of SME hubs across Nigeria to provide entrepreneurs with financing, business support services, capacity development, digital tools and market opportunities.

Beyond access to credit, the NESG identified reliable electricity, logistics, port infrastructure and access to foreign exchange for machinery and industrial inputs as essential conditions for industrial expansion.

The presentation noted that the national grid delivered an average of 4,113 megawatts in the first quarter of 2026, compared with installed capacity of 13,625 megawatts.

Nigeria’s industrial policy targets include increasing manufacturing’s share of gross domestic product to 15 percent by 2030 and 25 percent by 2035.

The CIBN said the banking profession must support these ambitions through responsible lending, sound corporate governance and stronger professional competence.

For the Institute, the next phase of recapitalisation must move beyond stronger balance sheets to financing businesses, expanding productive capacity and creating sustainable employment opportunities across the economy.