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CPPE urges FG to review foreign traders’ permits

The Centre for the Promotion of Private Enterprise (CPPE) has called on the Federal Government to urgently review the regulatory framework governing foreign participation in Nigeria’s retail and distributive trade, amid growing concerns over the involvement of foreign nationals, particularly Chinese traders, in segments traditionally dominated by Nigerian businesses.

The CPPE said the development could have implications for employment, small businesses, fair competition and the enforcement of Nigeria’s immigration and investment regulations.

In a statement on Saturday, the Chief Executive Officer, Dr. Muda Yusuf, stressed that its concerns should not be interpreted as opposition to Chinese investment or Nigeria’s expanding trade relationship with China.

‘China remains one of Nigeria’s most important trading partners and the leading source of the country’s imports,’ Yusuf said.

He added that Nigerian businesses had ‘longstanding commercial relationships with Chinese manufacturers, exporters and major distributors,’ which had supported the supply of machinery, industrial inputs, consumer goods and technology products to the Nigerian market.

‘The CPPE therefore stresses that the concern is not about Chinese investment or Nigeria’s economic relationship with China,’ Yusuf said.

According to him, foreign investment remains important to Nigeria, especially when it brings ‘capital, technology, industrial capacity, employment, exports and new capabilities into the economy.’

The immediate concern, he said, was the movement of some foreign suppliers and traders downstream into retail activities where Nigerian businesses already have significant capacity.

‘The issue is the increasing movement of some foreign suppliers and traders downstream into segments of retail trade in which Nigerians already possess substantial capacity,’ he said.

Yusuf argued that a situation in which overseas manufacturers or major suppliers sell to Nigerian importers and distributors before establishing businesses that compete directly with those same customers at the retail level could create concerns about market structure and competition.

‘A situation where overseas manufacturers or major suppliers sell products to Nigerian importers and distributors, and subsequently establish operations that compete directly with those same businesses at the retail end of the market, creates legitimate concerns about market structure and fair competition,’ he said.

The CPPE noted that Nigeria’s distributive trade sector is a major source of employment, with millions of Nigerians engaged in wholesale and retail activities involving textiles, ICT products and accessories, automobile spare parts and tyres, electrical products, plumbing materials and household goods.

Yusuf said the issue was particularly significant against the backdrop of unemployment, poverty, weak consumer purchasing power, high financing costs and mounting pressure on small businesses.

‘At a time when the economy is grappling with unemployment, poverty, weak consumer purchasing power, high financing costs and considerable pressure on small businesses, policy should be particularly sensitive to developments capable of displacing domestic enterprises from sectors in which Nigerians have demonstrated adequate capacity,’ he said.

The organisation said reports from market operators indicated growing concerns about foreign participation in textiles and fabrics, computers and telephone accessories, automobile spare parts, tyres and plumbing materials.

It also cited protests and complaints by Nigerian traders in some major commercial markets, urging authorities not to ignore the developments.

The CPPE called for a comprehensive review of business permits, expatriate quotas, immigration approvals and other authorisations granted to foreign nationals operating in Nigeria.

Yusuf said expatriate quotas should primarily be used to bring in skills and expertise that are scarce or unavailable locally.

‘Expatriate quotas should principally facilitate the entry of skills, expertise and capabilities that are scarce or unavailable locally,’ he said.

‘They should not become instruments for displacing Nigerians from economic activities where substantial domestic competence already exists.’

He further argued that retail trading generally did not constitute a specialised activity requiring scarce foreign expertise.

‘Retail trading is generally not a specialised activity requiring scarce foreign expertise,’ Yusuf said. ‘The increasing presence of non-nationals in such activities therefore raises legitimate questions about the effectiveness of the regulatory and immigration architecture.’

The CPPE, however, said it was not advocating arbitrary restrictions on foreign investors.

‘For clarity, the CPPE is not calling for arbitrary restrictions or hostility towards foreign investors but a consistent and credible enforcement of existing laws, transparent rules and a clearly defined investment policy,’ Yusuf said.

It’s unfair for North to interrupt 8 years of southern presidency – Kano Commissioner

Ahead of the 2027 general elections, Kano State Commissioner for Information and Internal Affairs, Ibrahim Waiya, has declared that it would be unfair for the North to deny the South its full eight-year turn in the Presidency.

Waiya, therefore, called on Northerners to allow the South to complete its tenure under President Bola Ahmed Tinubu before seeking a return to power.

The commissioner made the declaration on Friday at the unveiling of Nigeria Forward, a political platform formed to promote national unity and pursue the re-election of President Bola Ahmed Tinubu.

According to him, rotating the Presidency between the North and the South has become imperative to preserve fairness and political stability.

He noted that the North completed eight years in power under the late former President Muhammadu Buhari before the transition to President Tinubu from the South.

‘For the sake of fairness, the North had its own eight years under the late former President Muhammadu Buhari, and now the South is serving its first term under President Bola Tinubu,’ Waiya said.

‘The North should not be unfair to the South. We feel that we should be very fair to our brothers and sisters in the South. This means allowing the South to continue and complete its tenure, so that the North can wait to complete another round of eight years.’

He argued that interrupting the current political dispensation could destabilize the country and jeopardize the ongoing reforms and gains achieved by President Bola Ahmed Tinubu.

Waiya added that Nigeria Forward has two fundamental objectives: promoting national unity and consolidating the developmental gains recorded under the Tinubu administration.

Speaking earlier, the Minister of Innovation, Science and Technology, Uche Nnaji, explained that Nigeria Forward represents a collective responsibility to extend the emerging gains of President Tinubu’s Renewed Hope Initiative.

He emphasised that policies achieve their greatest impact when citizens understand them, ‘participate in them, and are able to connect them to opportunities in their own communities. This is where Nigeria Forward has an important role to play.’

Wema Bank pushes stronger cyber-risk controls

Wema Bank Plc has called for stronger governance, cybersecurity and internal audit controls to protect the banking industry from emerging risks associated with artificial intelligence (AI) and digitalisation.

Managing Director, Wema Bank, Mr Moruf Oseni, made the call while hosting the 65th Quarterly General Meeting (QGM) of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) in Lagos.

He spoke at the meeting, themed: ‘Auditing the Future: Governing AI, Cyber Risks and Digital Trust in an Era of Intelligent Banking.’

Oseni, who was represented by the Executive Director, Digital Bank, Tunde Mabawonku, said AI-enabled fraud, cyberattacks and data breaches were becoming tangible threats as financial institutions deepened their reliance on technology.

According to him, as customers increasingly interacted with financial institutions through digital channels, preserving digital trust had become an enterprise-wide priority.

‘Technology may change the way we bank, but trust remains the currency upon which banking is built,’ he said.

Oseni said addressing emerging risks required responsible innovation, resilient technology infrastructure, robust cybersecurity, sound data governance and effective internal controls.

He added that internal audit functions must evolve from predominantly retrospective assurance to a more forward-looking, technology-enabled and insight-driven function.

According to him, the bank recognised that ‘innovation and governance must advance together,’ assuring that Wema Bank remained committed to leveraging technology responsibly, strengthening resilience and maintaining the confidence of its customers and stakeholders.

Representing the ACAEBIN Chairperson, Aina Amah, the association’s First Vice President, Mogbitse Atsagbede, said the meeting was particularly relevant as AI, digitalisation, automation and interconnected platforms continued to reshape the banking industry.

She said ACAEBIN had expanded the capacity-building programmes of its Training Academy to cover artificial intelligence, blockchain and smart contracts, fraud risk assessment and forensic auditing, data analytics, as well as the auditing of financial institutions and fintech companies.

Amah said the association was also examining the development of an Audit Management Framework for Nigeria and strengthening mentorship programmes for chief audit executives.

She added that ACAEBIN had recently engaged the top management of the Nigerian Police Force National Cybercrime Centre on cybercrime, fraud trends and intelligence sharing.

She stressed that addressing emerging risks required collective action and coordinated institutional responses.

The meeting featured presentations by the Nigerian Police Force (NPF) and Deloitte Nigeria on digital fraud, AI governance, cyber resilience and the evolving role of internal audit.

Presenting on behalf of the NPF, Winner Martins said the NPF Vigilant application, launched by the Inspector-General of Police, Olatunji Disu, on September 1, had been developed by the Force’s ICT Department to strengthen collaboration among banks, customers and the police in combating digital and financial fraud.

He said the platform comprised a mobile application for members of the public and an administrative platform for banks and the police.

According to him, customers could report suspected fraud, upload supporting evidence and track complaints, while bank fraud desks could communicate directly with police officers when enforcement action was required.

Martins urged banks to onboard their fraud desks and use the platform in real time, saying its integration with the judicial system would facilitate the processing of digital court orders and reduce turnaround time in fraud-related cases.

Also speaking, Senior Partner, IT and Assurance Services, Deloitte Nigeria, Amalachukwu Udo, who was represented by the firm’s Senior Manager, IT and Control Assurance, Chisom Odobeatu, said internal audit functions must evolve alongside banks’ transition from traditional banking to digital services and AI.

Udo urged banks to maintain inventories of AI systems, establish clear accountability for their deployment and ensure that the models were scalable, explainable and based on reliable data, with continuous human oversight.

On cyber resilience, she said banks should move beyond preventing attacks to ensuring that they could withstand, respond to and recover from incidents involving core banking systems, ransomware, cloud services, system downtime and compromised privileged accounts.

Udo further warned that growing reliance on cloud providers, fintech companies and other third-party technology partners meant that banks could not limit their assurance activities to their internal environments.

She recommended stronger contractual requirements, independent certifications, audit rights and joint testing to provide greater assurance over third-party controls.

’Telecom now economy’s livewire’

Nigeria’s dependence on telecommunications has become so deep that a major shutdown of the sector would bring significant parts of the economy to a standstill, renowned economist and Managing Director of Financial Derivatives Company, Bismarck Rewane, said.

He argued that the importance of telecommunications cannot be measured solely by its direct contribution to Gross Domestic Product (GDP).

According to him, the industry’s real economic value lies in the activities across other sectors that depend on reliable connectivity.

Rewane said there is a significant difference between the nominal contribution of a sector and its effective contribution to the economy.

While telecommunications may contribute about 14 per cent to economic output, he said that figure does not capture the businesses, services and transactions that depend on the sector.

‘The nominal value shows you that it is 14 per cent, but the effective value tells you what happens when you consider all the linkages. That is where you begin to understand the real importance of the sector,’ he said.

Those linkages, according to Rewane, now run through some of the country’s most critical economic activities. Banking and financial services depend on connectivity for digital transactions, while healthcare increasingly relies on telecommunications for telemedicine and access to medical expertise. Aviation, commerce and security operations also depend on functioning communication networks.

‘If you look at the effective value, you will discover that the system will begin to grind to a halt. You will not be able to make payments, telemedicine will not work, airline bookings will be affected, and the consequences for security will be enormous,’ he said.

Rewane therefore challenged Nigerians to consider what would happen if the country’s major telecommunications operators suddenly stopped providing services. He specifically referenced MTN, Airtel and other major operators, noting that their absence would affect far more than telephone calls and internet access. He asked: ‘Let us play the devil’s advocate. If MTN, Airtel and the others shut down today, will this economy survive 24 hours without chaos?’

He said the question becomes even more important when telecommunications is compared with other sectors that appear to have a relatively small share of GDP. Rewane cited oil, which accounts for a single-digit share of economic output but remains critical to Nigeria’s foreign exchange earnings. ‘People say oil constitutes only eight or nine per cent of our GDP, but if we shut down the oil wells today and stop exporting crude, within one week we will not have the foreign exchange to pay for anything. The country will come to a halt,’ he said

The economist said telecommunications should be viewed through the same lens because its importance extends beyond its headline GDP contribution. Its networks support financial transactions, businesses, healthcare, transportation, commerce and other activities that keep the economy functioning daily.

‘The sectors that are driven by this connectivity are very important. You cannot look at telecommunications in isolation because its real impact is in the linkages and outcomes it creates across the economy,’ Rewane said.

NPFL: Doma keep NPFL top spot despite Pillars’ rout as Enyimba sink deeper

Nigeria Premier Football League 2026-27 Matchday Four delivered impressive away victories yesterday, with Rangers International, Abia Warriors and Kano Pillars producing the standout performances, while Enyimba’s nightmarish start to the season continued in Aba.

In the Oriental derby at the Dan Anyiam Stadium, Owerri, defending champions Rangers International underlined their title credentials with an emphatic 4-2 victory over Kun Khalifat.

Temitope Folarin and Waheed Adebayo put Rangers in control before Chimobi Igwilo struck twice, while Preye Seikorowei and Ayuba Umar replied for Kun Khalifat.

The victory lifted Rangers to fifth with seven points from three games, while Kun Khalifat remain 19th with two points from four matches.

Perhaps the biggest statement came at the Sani Abacha Stadium, where Kano Pillars demolished previously perfect Doma United 4-1. Abdullahi Musa and veteran captain Rabiu Ali put Pillars two goals up before Sadiq Rilwan reduced the deficit. Ahmed Musa and Nasiru Salihu then completed the rout. It was Doma’s first defeat after opening the campaign with three successive victories without conceding.

Despite the setback, Doma remain top with nine points from four games, while Pillars surged to third with seven points from three matches.

Plateau United also produced a stirring comeback in Jos, beating Shooting Stars 3-1. Taheer Abubakar gave 3SC a 15th-minute lead, but Jibrin Ibrahim equalised five minutes after the restart before Seiyefa Jackson and Gideon Monday completed the turnaround. Plateau climbed to sixth with seven points, while Shooting Stars are 15th with three points from two matches.

Abia Warriors left it late to stun Sporting Lagos 2-0 at the Mobolaji Johnson Arena. Ikoi Etta struck in the 88th minute before Emeka Obioma sealed the victory in the 90th. The result pushed Abia Warriors to 10th with five points, while Sporting Lagos sit joint-15th on three points.

Enyimba’s troubled start, meanwhile, took another damaging turn as newcomers Inter Lagos claimed a famous 1-0 win in Aba. Ezekiel Moses’ 18th-minute header secured Inter’s first points of their maiden NPFL campaign and moved them to 18th with three points. Enyimba are rooted to 20th without a point from three matches, making them the league’s only pointless side.

Warri Wolves earned their first victory of the season with a 1-0 win over Kwara United, Ejike Ezekiel striking after only eight minutes. Wolves are 17th with three points, while Kwara United occupy 11th with four.

In Lafia, Rivers United remained unbeaten after a 1-1 draw with Nasarawa United. Harrison Ebah’s 66th -minute own goal handed Rivers the lead before Musa Yakubu converted an 84th-minute penalty for the hosts. Rivers sit fourth with seven points from three games, while Nasarawa are 13th with four points.

Saturday’s three fixtures had earlier seen Barau FC maintain their unbeaten start with a goalless draw against Ikorodu City in Lagos. Barau remain second with eight points, while Ikorodu City are ninth with five.

Ranchers Bees defeated Bendel Insurance 2-1, with Chiedozie Jude Okorie opening the scoring before Lekan Gabriel equalised and Mohammed Rabiu Zulkifilu struck the winner. Zulkifilu’s prolific start has now produced five goals in three appearances. Ranchers Bees are seventh with six points, one place above eighth-placed Bendel Insurance, also on six.

Katsina United also edged Niger Tornadoes 1-0 through Abdulrahman Garba’s 21st -minute goal. Katsina are 14th with four points from three games, while Tornadoes are 12th with four from four.

NPFL MATCHDAY FOUR RESULTS:

Ikorodu City 0-0 Barau FC

Ranchers Bees 2-1 Insurance

Katsina United 1-0 Niger Tornadoes

Kun Khalifat 2-4 Rangers

Kano Pillars 4-1 Doma United

Plateau United 3-1 Shooting Stars

Sporting Lagos 0-2 Abia Warriors

Enyimba 0-1 Inter Lagos

Warri Wolves 1-0 Kwara United

Nasarawa United 1-1 Rivers United

Lasaco Assurance pays N18.58bn claims in 2025

The development was disclosed in the company’s 2025 financial report presented by its Chairman, Mr. Babatunde Dabiri, at the 46th Annual General Meeting (AGM), held virtually at its head office on recently.

The increase in claims payments came against the backdrop of growth in the company’s insurance revenue, which rose to N30.86 billion in 2025, compared with N22.82 billion recorded in the previous year.

Lasaco Assurance also strengthened its financial position during the year under review, with total assets increasing by about 25.5 per cent, from N31.26 billion in 2024 to N39.24 billion in 2025.

Similarly, shareholders’ funds rose by approximately 66 per cent, from N12.26 billion to N20.36 billion during the period.

Total liabilities declined marginally from N19 billion in 2024 to N18.88 billion in 2025.

Speaking on the company’s recapitalisation journey, Dabiri disclosed that, subsequent to the 2025 financial year-end, Lasaco Assurance successfully concluded a strategic rights issue.

He said the strong investor participation demonstrated confidence in the company’s corporate strategy, governance structure, management execution and long-term prospects.

According to him, the additional capital significantly strengthened the company’s shareholders’ funds and enabled Lasaco Assurance to exceed the new National Insurance Industry Reform Act (NIIRA) 2025 capital thresholds ahead of the regulatory compliance timeline.

Dabiri said the company viewed the new capital requirements not merely as a regulatory obligation but as a strategic catalyst for long-term value creation.

He noted that Lasaco Assurance successfully met the National Insurance Commission (NAICOM) minimum capital requirements ahead of the July 31 deadline and was subsequently approved as one of the recapitalised insurance companies authorised to continue operating in Nigeria.

The Chairman described the successful capital-raising exercise as a landmark achievement, noting that Lasaco Assurance secured N19.3 billion, exceeding its initial target of N18.47 billion by approximately 4.5 per cent.

He said the recapitalisation had further strengthened the company’s capacity to pursue its strategic objectives and compete more effectively in Nigeria’s evolving insurance market.

The Chairman expressed Lasaco Assurance’s growing financial commitments to policyholders as the company seeks to deepen its market position and respond effectively to changing risks and regulatory requirements.

The Managing Director of Lasaco Assurance Plc, Ademoye Shobo, highlighted technology, innovation and strategic partnerships as key drivers for increasing insurance participation in Nigeria.

He noted that the company secured approval from the National Insurance Commission (NAICOM) for products in the previous year, with additional products currently in the pipeline.

Shobo also emphasised the company’s commitment to strict capital monitoring in line with NAICOM’s recapitalisation framework, noting that maintaining adequate capital remains critical to sustaining the company’s operations and growth.

Wike: My political base cannot be dismantled from Social Media

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has dismissed attempts by political opponents to weaken his influence in Rivers State ahead of the 2027 general elections, saying political victories are won at the grassroots, not on social media.

Speaking against the backdrop of political realignments and opposition efforts to build a coalition against his political structure, Wike said his years of experience had taught him that political battles are ultimately decided by the people.

He also expressed confidence in the ongoing reconciliation between him and Rivers State Governor Siminalayi Fubara, saying the governor had demonstrated sincerity in implementing the agreements reached between them.

‘As far as I am concerned, I don’t have any doubt that the governor is sincere. We have met and agreed on certain things. Before he travelled out, he told us he was going to submit a list of the members of his team that will form part of the campaign council, which he has done,’ Wike said.

According to him, disagreements among political actors supporting the reconciliation process should not be interpreted as a breakdown of the agreement.

‘When a leader says, ‘Look gentlemen, this is what I think,’ some people may not take it easy. It takes time. But on the part of the Governor, he is giving that support,’ he said.

Wike urged those yet to embrace reconciliation to give the process time, stressing that the overriding objective should be to work together.

The FCT Minister also took a swipe at claims by supporters of the Labour Party and the ‘Obidient’ movement that they won the 2023 presidential election in Rivers State.

He said such claims were based on results from limited polling units in urban areas and did not reflect the overall result declared by the Independent National Electoral Commission (INEC).

‘They won by their own imagination. When did INEC declare that they won?’ Wike asked.

He said Rivers State had more than 7,000 polling units and argued that victory could not be determined by results posted from a few polling units in Port Harcourt.

‘You see 50 polling units coming out to say ‘Obi has won’ in Port Harcourt, and they take it to the bank. What about the remaining 6,900-plus polling units?’ he said.

Wike added: ‘You can win on social media, but I am talking practically about the results on the ground.’

Wike traced his political survival to his grassroots connection, recalling his emergence as chairman of Obio-Akpor Local Government Council in 1999 and his subsequent re-election in 2004.

He also recalled the circumstances surrounding his victory in the 2015 governorship election against the backdrop of the political influence of former Governor and minister, Rotimi Amaechi.

‘In 2015, Rotimi Amaechi was Governor. They said because we are from the same area, it would be impossible for me to win. I said the people would decide. At the end of the day, I won,’ he recalled.

Wike described the 2019 governorship election as one of the most difficult political battles of his career, alleging that federal forces were mobilised against his re-election.

‘In 2019, I had federal might against me. The General Officer Commanding (GOC) took it upon himself to ensure I was never returned. I saw soldiers; the Minister of Transportation was dictating terms, and the INEC office was practically moved to the division,’ he alleged.

Despite the alleged pressure, Wike said he emerged victorious because of his relationship with the people.

‘Yet, despite everything that was done, I won. Why? Because when you are with your people, and they appreciate what you are doing, federal forces cannot stop you,’ he said.

Wike also disclosed, for the first time publicly, a conversation he had with his late friend and former Group Managing Director of Access Bank, Herbert Wigwe, shortly before the 2019 governorship election.

According to him, Wigwe visited him at the Rivers State Government House three days before the election and expressed concern about the political situation and his safety.

‘I am saying this for the first time; nobody knew,’ Wike said.

Recounting the encounter, he said Wigwe took him aside, hugged him and asked how he was preparing for the election.

Wike quoted Wigwe as asking: ‘Look, everything is being done to ensure you cannot be returned. Is there any way I can help you adjust and save yourself?’

Wike said he rejected the suggestion, insisting that he had done nothing wrong and was confident of victory.

‘I told him, ‘Herbert, I have nothing to save myself from because I have done nothing wrong. But let heaven come down, I am going to win this election’, he recalled.

According to Wike, Wigwe later travelled out of the country but called him from Miami after the election to congratulate him on his victory.

‘He called me all the way from Miami and said, ‘Nyesom, you won!’ I told him I knew I would, because leadership is about staying true to your people,’ Wike said.

Looking ahead to 2027, Wike said political calculations and alliances would not automatically translate into electoral victory.

He recalled his decision during the 2023 Peoples Democratic Party (PDP) presidential primary and the subsequent political developments, saying leaders must sometimes take difficult positions rather than simply follow popular sentiment within political circles.

‘Leadership is not about being unable to tell your people the truth,’ he said.

Responding to those who believe the political equation in Rivers would be different in 2027, Wike said: ‘So when people gather and say 2027 will not be like 2023, I laugh. Let them come to the grassroots and meet the people’.

Nigeria urges Vietnam to raise trade volume

The Federal Government of Nigeria has urged Vietnam to increase bilateral trade between the two countries to $2bn.

The Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Ahmed, made the call in Abuja over the weekend at a reception to mark the 81st National Day of Vietnam and the 50th anniversary of diplomatic relations between Nigeria and Vietnam.

He said the two countries currently have over $1bn in trade, adding that Nigeria is seeking to deepen the partnership as part of efforts to grow its economy.

‘Currently, we have over one billion in trade relationships. I hope, Your Excellency Ambassador, you will increase this one billion into two billion as Nigeria is looking forward to a one trillion dollar economy,’ he said.

While noting that Nigeria and Vietnam have maintained a productive cooperation over the past 50 years in areas including agriculture, trade and investment, defence and multilateral diplomacy, Ambassador Ahmed added that,

‘We have a lot of Nigerian companies and Vietnamese companies cooperating in contributing to the national development of each country. Nigeria and Vietnam remain important and strategic partners in West Africa and beyond. This friendship signifies the spirit of South-South cooperation.’

Ahmed said the Federal Government was committed to deepening the partnership and expanding bilateral cooperation into agro-agricultural processing, renewable energy, digital economy, pharmaceuticals, skills development and manufacturing.

The Vietnamese Ambassador to Nigeria, Le Viet Hoang, said the two countries had opportunities to expand economic cooperation as they marked five decades of diplomatic relations.

Hoang said Nigeria remained one of Vietnam’s largest trading partners in Africa, noting that Nigerian cashew nuts, timber and liquefied natural gas were among commodities traded between the two countries.

The ambassador said Vietnam was ready to share its experience and expertise in high-tech agriculture, rice value chains, aquaculture and agro-processing to support Nigeria’s food security efforts.

He also identified telecommunications, infrastructure, innovation, e-commerce and financial technology as areas where both countries could deepen cooperation.

’Nigeria, Brazil have potential for stronger trade, investment ties’

Group Managing Director/Chief Executive, United Bank for Africa (UBA) Plc, Oliver Alawuba, has advocated for stronger trade and investment relations between Nigeria and Brazil, highlighting numerous collaboration opportunities in agriculture, manufacturing, energy, technology and the creative industries.

Alawuba spoke last week in Abuja during the celebration of Brazil’s National Day, hosted by the Embassy of the Federative Republic of Brazil in Nigeria.

While congratulating the Government and people of Brazil, the UBA boss noted that the longstanding relationship between both countries extends beyond diplomacy to shared history, cultural heritage and a strong connection between their people.

He recalled Brazil’s representation at Nigeria’s independence celebrations in 1960, describing the gesture as a cherished foundation of the relationship between the two countries and also highlighted the enduring influence of Afro-Brazilian heritage in Nigeria, particularly in Lagos Aguda communities, where Brazilian architectural, culinary and cultural traditions continue to thrive.

According to Alawuba, the shared entrepreneurial spirit, cultural diversity, love of music and passion for football between Nigerians and Brazilians continues to provide a strong foundation for expanding commercial ties.

The UBA boss, noted that bilateral trade in goods between Nigeria and Brazil was approximately US$2.4 billion in 2025, stressing that there remained considerable room to deepen economic exchange and unlock new opportunities for businesses in both countries.

He also pointed to the US$1.1 billion Green Imperative Agricultural Mechanization Programme as an example of the opportunities that could emerge from combining Brazilian expertise and equipment with Nigerian enterprise to improve productivity, strengthen food security and create jobs.

Speaking on UBA’s pan-African reach, he explained that UBA’s presence in 20 African countries as well as the United States, United Kingdom, United Arab Emirates and France, positions the bank to effectively support trade and investment between Africa and Brazil through its reach, local knowledge and financial capabilities.

While appreciating the relationship between the bank and the Embassy of Brazil, which he said had been built on confidence, trust and mutual respect since 2019, he reaffirmed the bank’s commitment to strengthening the partnership through focused service and closer collaboration.

Alawuba also used the opportunity to commend the warmth of the Brazilian people, the richness of its culture and the promise of its future, expressing optimism that the longstanding friendship between Nigeria and Brazil would translate into shared economic prosperity.

Fintiri Youth Empowerment and Development

Governor Ahmadu Umaru Fintiri’s administration has made youth empowerment and human capital development a major component of governance in Adamawa State, combining policy reforms, skills acquisition, entrepreneurship support, agriculture, education, digital innovation and targeted social interventions.

1. Adamawa State Youth Policy 2025

The administration introduced the Adamawa State Youth Policy 2025, providing a comprehensive framework for youth development and defining youth within the 15-40 age bracket. The policy focuses on education, employment, entrepreneurship, health, civic participation and 21st-century skills, with particular attention to rural youth, persons with disabilities, out-of-school youth and communities affected by insurgency.

It also provides for a youth database and portal to improve access to opportunities, coordination and monitoring of youth programmes.

2. Financial Empowerment and Entrepreneurship

Through the Poverty Alleviation and Wealth Creation Agency (PAWECA), the administration introduced the Fintiri Business Wallet, providing financial support to youth, women, petty traders, artisans and small businesses.

The programme has reached thousands of beneficiaries across the state, disbursed billions of naira to over 100,000-240,000+ beneficiaries, supporting entrepreneurship, strengthening small businesses and promoting economic self-reliance. Other PAWECA interventions similarly provide grants, training and social support to youth and women.

3. Skills Acquisition and Vocational Training

The administration has revitalised and expanded skills acquisition and technical training centres across Adamawa, offering practical training in areas such as electrical installation, welding and fabrication, automobile repairs, GSM repairs, tailoring and fashion design, carpentry, tiling, renewable energy and other trades.

Training programmes range from short-term courses to advanced one-year programmes, with participants in some programmes receiving monthly stipends, the capacity to train thousands annually (targets mentioned of 20,000+).

The establishment of the Adamawa State College of Technology, Innovation and Entrepreneurship Studies, Gulak, further strengthens the administration’s drive to equip young people with practical skills, technological knowledge and entrepreneurial capacity.

4. Digital Skills and Adamawa Digital Academy

Digital development has become another major pillar of youth empowerment. Through partnerships and specialised programmes, young people are being exposed to coding, data analysis, digital marketing, e-commerce, financial literacy and entrepreneurship.

The Adamawa Digital Academy expands this agenda by providing young people with access to structured digital learning, technology-driven skills and opportunities relevant to the emerging digital economy.

5. Agriculture and Food Security

The administration is also positioning agriculture as a source of employment and entrepreneurship for young people.

Through the 300-Hectare-per-LGA Food Security and Cluster Farming Programme, prepared farmland, agricultural inputs and extension services are provided to participating youth across the state. The initiative seeks to create jobs, increase agricultural productivity and strengthen food security.

Other interventions support livestock entrepreneurship, agricultural value chains and climate-resilient farming.

6. Education and Scholarships

The administration has expanded educational opportunities through the Adamawa State Scholarship Trust Fund, supporting thousands of students within and outside the state.

Other interventions include free WAEC and NECO registration for eligible students, local and specialised scholarship programmes, overseas postgraduate opportunities-including the Fintiri Wings initiative-and the construction and development of model schools and other educational infrastructure.

7. Girl-Child Empowerment and Inclusion

Through the Adolescent Girls Initiative for Learning and Empowerment (AGILE), thousands of schoolgirls have benefited from conditional cash transfers and other interventions designed to improve enrolment, attendance and retention.

The programme complements wider efforts to expand educational and economic opportunities for girls and other vulnerable groups.

8. Employment, Sports and Social Development

The administration has also created employment opportunities through public-sector recruitment, infrastructure projects and other government interventions.

Sports development initiatives, including the Adamawa Governor’s Cup, provide platforms for discovering and developing young sporting talents across the state.

9. Building Adamawa’s Human Capital

Together, these initiatives represent a broad approach to youth development-combining education, skills, technology, entrepreneurship, agriculture, employment and financial empowerment.

Through the Ministry of Entrepreneurship Development, PAWECA, the Ministry of Youth and Sports Development and other institutions, the Fintiri administration has sought to move youth empowerment beyond temporary interventions towards sustainable skills, opportunities and economic participation.