Category: Business Day

Siminalayi Fubara, governor of Rivers State, has expressed satisfaction with the pace and quality of work at the Creek Road Market in Port Harcourt, assuring that it will be completed by January 2027.

A statement by Onwuka Nzeshi, Chief Press Secretary to the Governor, on Friday said Fubara stated this on Friday during an inspection visit to the project site.

Fubara said the visit was prompted by his meeting with SETRACO, the construction firm, handling the resurfacing of roads in the old Port Harcourt Township.

He said SETRACO had identified the Creek Road axis as a major cause of delay in its road rehabilitation works, as traders have virtually taken over the road, making it difficult for the contractor to work.

The governor noted that relocating the traders to the new market remained the only solution to freeing the road for the resurfacing work to be done successfully.

Despite the challenges encountered since the commencement of the project, Fubara said he was impressed with what he saw on site, commending the contractor for the quality of the job done so far.

He disclosed that the first phase of the market comprises about 700 stalls and shops, covering both wet and dry sections, which he said is sufficient to accommodate most of the women trading along Creek Road and ultimately restore free flow of traffic along the route.

The governor assured the contractor handling the market project that the State Government will play its part to ensure the project continues as agreed, including addressing the issue of funding in order to guarantee its timely delivery.

Speaking on the benefits of the market, Fubara said the project goes beyond providing trading spaces, as it is also aimed at restoring sanity, decency and a healthy environment in the Old Port Harcourt Township, which he described as home to many aged people and ‘aborigines’ of the city.

He lamented that the situation of the old market forced traders onto the streets, turning the Creek Road and adjoining streets into an open market.

Governor Fubara observed that the current situation of trading along the streets could create serious environmental and health hazards, noting that many diseases are caused by overcrowding, dirt and uncleanliness.

He reiterated his administration’s commitment to improving the health and well-being of Rivers people, stressing that he is happy not just as head of the current administration, but as a citizen of the State to see a project that will return the old Port Harcourt Township to its cherished status as a clean and orderly city.

Nigeria’s rapidly changing urban landscape is creating new opportunities for real estate developers. However, weak planning institutions, inefficient land administration, and inadequate infrastructure threaten to deepen the housing crisis and undermine city sustainability.

From Lagos to Abuja and other emerging urban centres, the expansion of residential estates, commercial developments, and mixed-use properties is reshaping how Nigerians live, work, and invest. Yet the pace of construction raises fundamental questions about whether urban development is keeping pace with the institutional capacity required to manage growing cities.

The challenge is no longer simply how many buildings can be constructed or how much capital can be attracted into the property market. The critical question is whether development is producing functional cities with affordable housing, reliable infrastructure, efficient transportation, and a decent quality of life.

These concerns featured prominently at the Housing For All Support Initiative’s two-day summit on City Evolution and the Changing Characteristics of the Modern Urban Environment, held at the Lagos Chamber of Commerce and Industry (LCCI) Conference Centre in Ikeja on October 21-22, 2026.

The event brought together built-environment professionals, academics, policymakers, and industry stakeholders to examine the future of Nigerian cities.

Discussions highlighted the need to place housing and sustainable urban development at the centre of economic planning, particularly as population growth, technological advancement, environmental pressures, and changing investment patterns transform the urban landscape.

Timothy Nubi, a Professor at the University of Lagos, in his remarks at the summit, emphasised the importance of understanding cities as evolving systems rather than physical spaces filled with buildings. His contribution drew attention to the historical significance of urban design and the need to rethink contemporary planning.

Echoing these concerns, fellow academic Prof. Kemiki Adebowale noted that physical expansion without corresponding policy frameworks leads to systemic urban failure. He stressed that institutional alignment across municipal authorities remains essential to preventing haphazard structural development.

The implications for the property market are significant. The commercial success of individual developments cannot be separated from the quality of the broader urban environment in which they operate.

According to a September 2025 report on Lagos by the African Cities Research Consortium, the city’s development challenges are closely linked to political and governance arrangements. The report identified significant inadequacies in transportation, water, sanitation, energy, and waste management. These weaknesses affect city operations and constrain wider economic transformation.

For property developers, such deficiencies translate into higher development costs, greater operational uncertainty, and increased pressure on surrounding infrastructure.

Where public transportation is unreliable, residents spend more time and money commuting. Where drainage and waste management systems are inadequate, neighbourhoods become vulnerable to flooding and environmental degradation. Where electricity and water supplies are inconsistent, developers and households face additional expenses to secure essential services.

These problems illustrate a central weakness in Nigeria’s urban model: private investment can deliver buildings, but it cannot independently provide public infrastructure and institutional coordination.

Increasing construction volume alone cannot resolve the housing crisis. In December 2025, the Federal Ministry of Housing and Urban Development disclosed that approximately 15,2-million housing units nationwide were structurally inadequate, underscoring the qualitative dimension of the deficit.

The distinction is critical for real estate investment. A building may provide shelter without meeting the requirements of adequate housing, particularly where occupants lack dependable water, electricity, sanitation, accessible roads, and social infrastructure.

The market also faces a severe affordability problem. As construction costs rise and access to long-term financing remains limited, developers have strong commercial incentives to target high-income buyers.

An Estate Intel report on the Lagos Real Estate Development Pipeline Report 2025/2026 estimated that more than 34 800 residential units were in the Lagos development pipeline. Yet the report identified a persistent supply gap in the middle-income and affordable housing segments despite heightened construction activity.

This imbalance creates a structural contradiction. A city can experience a construction boom while a substantial proportion of its population remains unable to afford suitable accommodation.

The consequence is a widening divide between formal developments serving higher-income households and lower-income residents pushed towards distant settlements, overcrowded accommodation, or unplanned areas.

Beyond affordability, the effectiveness of institutions responsible for land administration, physical planning, building approvals, and infrastructure delivery remains central to market stability.

A functioning land administration system provides clarity over ownership, reduces disputes, and helps investors assess transactional risks. Effective planning institutions determine where development should occur, the infrastructure required to support it, and the environmental constraints that must be respected.

Where these systems are weak, developers and buyers face uncertainty over land titles, approval processes, and the legality of existing structures.

The Federal Government acknowledged these challenges in March 2025 when the housing ministry announced plans to strengthen documentation through the National Land Registration, Documentation and Titling Programme.

At the time, the ministry stated that less than 10% of land in Nigeria was registered, citing inadequate ownership records, inefficient registration processes, and insufficient data for land valuation.

Weak land administration discourages formal investment, prolongs transactions, and exposes buyers to competing property claims. It also complicates public infrastructure provision because authorities struggle to establish clear ownership or coordinate land use.

When physical planning is poorly enforced, buildings emerge without consideration for road capacity, drainage, or environmental risks. Such developments impose costs on the wider population when authorities must subsequently address flooding, traffic congestion, and unsafe structures.

Institutional weakness carries a measurable economic cost. It reduces investor confidence, increases operational uncertainty, and makes the delivery of affordable housing more difficult.

The transformation of Nigerian cities requires a reconsideration of the relationship between private real estate investment and public responsibility.

Developers mobilise capital, acquire land, employ construction workers, and build properties. However, the broader urban environment depends on decisions across multiple public institutions responsible for roads, transportation, water, electricity, drainage, and environmental protection.

When public institutions operate without coordination, the result is disconnected development: new estates emerge without public transport, commercial districts expand without road capacity, and residential communities grow faster than sanitation networks.

A 2025 report by the African Cities Research Consortium identified the interaction between political arrangements and urban systems as a major factor shaping Lagos’s challenges. The analysis suggests that addressing infrastructure gaps requires attention to the governance structures that determine how services are delivered.

This reality makes governance reform as important as attracting new property capital.

State and local authorities require stronger planning capacity, reliable urban data, and transparent development approval systems. Land records must become accessible, while building standards and environmental regulations must be enforced consistently.

Governments must also coordinate infrastructure investment with residential and commercial expansion. This coordination ensures new developments connect to functioning transport networks and essential services rather than leaving residents to bear the cost of institutional failure.

The Housing For All Support Initiative summit provided an opportunity to move the discussion beyond construction volume towards long-term urban quality.

Its central theme, City Evolution and the Changing Characteristics of the Modern Urban Environment, underscores the need for collaboration among government, developers, built-environment professionals, investors, and communities.

Summit speakers emphasised that housing is more than a physical structure: it is fundamental to family stability, economic productivity, social inclusion, and human development. The organising committee called for practical recommendations that can translate into public policy, professional practice, and community initiatives.

For Nigeria, the task is to ensure urban expansion produces more than new skylines and rising property values.

A successful strategy must incorporate affordable housing, protect residents from environmental risks, improve access to essential services, and provide institutional certainty for responsible investment.

Housing policy, land administration, transport planning, and environmental management are interconnected; failure in one area undermines progress in the others.

As Nigerian cities expand, governance quality will determine whether real estate development drives inclusive economic growth or reinforces existing inequalities.

Ultimately, the measure of a successful city is not the number of buildings it contains, but whether residents can live safely, move efficiently, access economic opportunities, and afford decent homes. Without stronger institutions and accountable urban governance, Nigeria risks building larger cities without building better ones.

After three decades in South Africa, HSBC has surrendered its banking licence, ending its presence in a market it entered in 1995. The South African Reserve Bank withdrew authorisation for the bank’s Johannesburg branch effective September 18, 2026. The notice appeared in the Government Gazette on October 23.

The exit marks the end of a long-standing foreign banking presence, but it does not necessarily signal a loss of confidence in South Africa. Rather, it reflects HSBC’s decision to focus on markets and businesses that better fit its global strategy.

Three decades come to an end

HSBC established its South African operations in 1995, serving multinational companies, institutional investors and businesses involved in cross-border trade and finance. Its Johannesburg branch connected local clients to the bank’s international network, particularly in corporate and investment banking.

The departure was not sudden. HSBC announced its decision to leave South Africa in September 2024, making the licence withdrawal the final stage of a planned exit.

The bank also took steps to maintain continuity for clients. Its corporate and investment-banking business, including related assets and liabilities, was transferred to FirstRand’s Rand Merchant Bank (RMB). Absa agreed to continue providing access to South African equities and securities-financing services. HSBC’s private-banking representative office was also closed as part of the withdrawal process.

These arrangements suggest a controlled wind-down rather than a breakdown in the bank’s operations.

Why HSBC chose to leave …

South Africa remains home to one of the continent’s most developed financial markets. However, the sector is dominated by established lenders such as Standard Bank, FirstRand, Absa, Nedbank and Capitec.

These banks have extensive local networks, established customer relationships and a strong understanding of the domestic market. Competing against them can be expensive, particularly for a foreign institution without the scale to challenge local lenders across multiple banking services.

For HSBC, maintaining a presence in South Africa may no longer have offered enough strategic value to justify the cost and complexity.

The decision also fits a wider shift among international banks, which have been reviewing operations and concentrating resources on businesses where they have a stronger competitive advantage. HSBC has placed greater emphasis on its international network, particularly in Asia and other markets important to its global corporate, wealth-management and trade-finance businesses.

Leaving South Africa does not mean the bank has abandoned international banking. It means it has chosen to serve its global clients without maintaining the same direct presence in every market.

What the exit means for Africa …

HSBC’s departure should not be interpreted as a verdict on Africa as a whole. The economics of one banking operation cannot explain the investment prospects of an entire continent.

But the decision offers an important lesson. International banks are becoming more selective about where they operate and how they deploy capital. A presence in a market is no longer enough; the business must generate sufficient returns and offer a clear advantage over competitors.

For African markets, this could mean greater emphasis on specific opportunities such as trade finance, cross-border transactions, capital markets and advisory services rather than broad competition with established domestic lenders.

South Africa, meanwhile, is not losing access to international finance simply because HSBC has left. RMB and Absa have arrangements covering parts of the departing bank’s business, while local institutions remain central to the country’s financial system.

The bigger question is whether other international banks will reach similar conclusions about their own operations.

For HSBC, the exit is a strategic choice. For South Africa, it is a reminder that even a sophisticated financial market must offer foreign institutions a compelling commercial reason to stay.

Shoprite Nigeria is planning to open standalone neighbourhood stores as part of efforts to revive its retail operations, moving away from its traditional reliance on large shopping malls. Adekunle Adebiyi, Investments Executive Director disclosed this during an interview on Nairametrics where he discussed the retailer’s financial challenges, restructuring efforts and recovery plans.

According to Adebiyi, three Shoprite stores have reopened following a temporary shutdown of operations to allow the company to negotiate with suppliers and address its financial obligations.

‘We took a very, very drastic decision to just shut everything down whilst we negotiated with suppliers. Now three stores are back open,’ he said.

He explained that the company intends to expand through smaller, standalone neighbourhood outlets rather than depending primarily on shopping malls, a strategy he described as consistent with its original business plan.

‘We’re going to be opening standalone neighbourhood stores, which was always the plan,’ Adebiyi said.

He noted that the strategy would allow Shoprite to concentrate on retail operations without committing substantial capital to property development. Adebiyi explained that the traditional supermarket model relies on leasing suitable commercial properties rather than acquiring buildings outright. He said retailers could negotiate long-term leases, sometimes extending to 10 years, and invest primarily in shelves, refrigeration equipment and other operational infrastructure.

According to him, this approach differs from the expectations of Nigerian banks, which typically favour businesses with substantial fixed assets that can serve as collateral. He disclosed that MBO Capital encountered difficulties securing bank financing during the acquisition of Shoprite Nigeria because lenders struggled to identify sufficient tangible assets against which to provide credit.

Despite Shoprite generating billions of naira in revenue, its business model did not fit conventional asset-backed lending requirements. Consequently, the investors turned to alternative funding arrangements to complete the acquisition. Adebiyi also identified foreign exchange volatility as a major factor behind Shoprite Nigeria’s financial difficulties.

He revealed that approximately 17 of the retailer’s 28 stores had dollar-denominated rental agreements at the time of the acquisition. The subsequent depreciation of the naira significantly increased rental obligations, placing additional pressure on operating costs. According to him, rent should ordinarily account for approximately 8% to 10% of a supermarket’s revenue. However, some Shoprite locations experienced substantially higher rental costs.

Beyond foreign exchange pressures, Adebiyi acknowledged operational shortcomings, including weaknesses in inventory management and the loss of access to the former parent company’s enterprise resource planning system. He said replacing the system required billions of naira in additional investment, diverting funds that could otherwise have supported the business.

The proposed neighbourhood-store expansion represents the next phase of that recovery strategy, although the company has not disclosed the number of planned outlets, their locations or an opening timeline. As previously reported by Nairametrics, Ketron Investment Limited, a consortium led by Persianas Investment Limited, completed the acquisition of Shoprite Nigeria in June 2021, following the South African retailer’s decision to exit direct ownership of the Nigerian business.

The transaction saw Retail Supermarkets Nigeria Limited take over operations under a franchise arrangement, with MBO Capital Management Limited among the advisers involved in the acquisition. In June 2024, Nairametrics reported that Shoprite announced the closure of its Wuse store at Novare Wuse Central Mall in Abuja, citing the prevailing business climate and the outlet’s financial performance.

The retailer’s challenges continued into 2025, with reports of temporary store closures and operational disruptions linked to working capital constraints, electricity costs and other expenses. However, in March 2026, Shoprite told Nairametrics that it was not exiting Nigeria but implementing a phased restructuring programme that began in August 2025 Bunmi Adeleye,Retail Supermarkets Nigeria Limited Chief Strategy Officer disclosed plans to reopen outlets at The Palms Shopping Mall and Circle Mall in Lagos while exploring smaller neighbourhood store formats to reduce rental, electricity and diesel expenses.

When the much-anticipated ‘Odigbose – The play ‘ made its debut at MUSON Centre, Onikan, on October 17, 2026, it did not disappoint.

All the elements of African theatrics combined to give vent, colours, vibrancy and true meaning to the historic narrative of the theme of the dramatic production based on the slave trade story.

The Agip Hall, venue of the premiere, on that fateful Saturday night, welcomed a mixed gathering made of Nigerian and international audience; all lovers of theatre, music, dance and rich entertainment, to its bowels.

The cosmopolitan audience was held spellbound by the historic and stage presentation nuances of ‘Odigbose – The Play’, written and directed by Wanle Akinboboye; renowned tourism investor and developer. He is also the creator of the La Campagne Tropicana Beach Resort brand, an award-winning African-themed resort, known for its promotion of a mixed blend of African cultural heritage and hospitality motifs, amidst a splash of elegance and modern opulence.

The dramatic piece penned and directed for live theatre by Akinboboye, took the subdued audience back to happenings between the 16th and 19th centuries. An unravelling of the tragic moment that is better forgotten in the history of Africa.

An era of betrayals, enslavement, suffering, and pains inflicted on an innocent generation and people by brutish and heartless slave merchants, who offered all forms of inducements to the unsuspecting leaders to betray the trust and confidence of their people in selling them out for peanuts to the merchants who subjected them to some of the most inhumane treatments under harsh conditions, weathers and environments.

For Akinboboye, who has added another stripe to his growing armour of creative ferment and investment in humanity, ‘Odigbose – The Play’, was more than an historic and entertaining piece.

It was a creative and literary work that explored an alternate narrative from the perspective of an African, who knew the pains and sufferings that his forebears were subjected to and has through the years committed himself to not just repudiating it but reversing it by investing in the promotion of the best of Africa through his Continent Building and Motherland Beckons platforms and of recent, IPADA Initiatives.

He noted on the night that the dramatic piece was inspired by his desire to reverse and correct what he described as the misrepresentation of the African side of the story by outsiders.

Akinboboye noted that for centuries the story of the transatlantic slave trade had been told by others, adding that with ‘Odigbose’, Africa was reclaiming its voice.

According to him, ‘Africa tells its own story, in its own rhythm, with its own tears and its own truth, with its author, director, cast and crew within its hallowed soil.

‘The story of the African slave trade has been told by outsiders in different ways, often misrepresenting the African side of it.

‘A wrong impression has been presented that it was our kings who were willingly selling their subjects to the white men, but with this play, we try to correct that impression.’

He described most of the slaves from Africa soil as prisoners of war, not just slaves as painted by the slave masters and their European collaborators.

‘The white men supplied weapons to the African kingdoms and set them against one another to buy prisoners of war.

‘They knew that no one would willingly hand over people, so they brought arms and weapons of war so that armies could go to war and they could have prisoners of war,’ he said.

Produced by Atunda Entertainment, Akinboboye’s musical and entertainment productions company, ‘Odigbose – The Play’ premiere, was a truly African theatre, with rich display of music, songs, dance, choreographed movement, pageantry, and costumes, as well as poetic and oratory display.

The premiere was under the auspices of Motherland Beckons – IPADA Initiatives in conjunction with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

As expected, the members of the audience were thrilled, entertained, educated and inspired by the production, describing the evening as well-spent and a fulfilling one.

Tunde Babalola, renowned Nigerian award-winning scriptwriter, who is also the screenwriter for the film version of ‘Odigbose’ currently under production, said, ‘It was a tremendous experience for me because I last watched that play about 20 years ago when it was staged at his Ibeju-Lekki, Lagos resort, La Campagne Tropicana Beach Resort. I based my film adaptation screenplay on that stage play I saw then’.

”Bravo to the cast and crew, bravo to Wanle Akinboboye and bravo to Atunda Entertainment Productions for staging such a great production.”

Eniola Adejare Fabamwo, a justice with the Ogun State High Court, described Odigbose as an interesting and thought-provoking performance.

She shared her reflections on the importance of historical awareness and the value of theatre in preserving cultural heritage, saying: ‘The play was interesting. I came across the invitation online, and being a lover of history, especially historical theatrical performances, I was naturally interested in attending.

‘What particularly surprised me was that a production of this nature, staged at such a prestigious venue, was being offered to the public free of charge. I consider this a commendable initiative and appreciate the organisers for making it possible.

‘The history of the slave trade has always been of particular interest to me. Understanding our past is essential to appreciating our present and making informed decisions about our future. Historical productions such as this bring events beyond the pages of books, presenting them in a manner that is both engaging and instructive.

‘I would particularly encourage young people to attend performances of this nature. While social and recreational activities have their place, we should equally make time for cultural and educational events that broaden our knowledge and deepen our understanding of our heritage.’

She commended and expressed appreciation to Akinboboye for the production: ‘I thank Wanle Akinboboye for this initiative and acknowledge the efforts of the cast and production team. The performance was colourful, engaging and provided valuable insights into aspects of the slave trade and its historical significance.

‘I hope that more opportunities will be created for the public, particularly the younger generation, to experience historical and cultural productions of this nature.’

Jani Ibrahim, an engineer and national president, NACCIMA, said that history has been corrected. ‘Tonight, history has been corrected for the past, present and future generations. We are no longer in the dark about what actually transpired during the slave trade. I want to thank Wanle Akinboboye especially for this great historic achievement,’ he said.

For the Daramolas (husband and wife), it was a great evening: ‘We enjoyed ourselves. It has been a great evening.’ The wife added; ”we saw Odigbose. I cried a little (laugh). The drums. The story of our people being taken away, it touched us.’

Abayomi Davies, an art enthusiast and music teacher, said that he was impressed by the cast. ‘Their comportment on stage, the line delivery, it was so real like the play was actually taking place in real life. And that is essentially what a good cast injects into a stage play.’

‘The part that impressed me most was the wrestling match. There were so many people on stage all at the same time, yet everyone had their significance and they all played their various roles very well,’ Lilian Okechukwu said.

”Also, the love scenes looked very real. Are you sure those two are not deeply in love in real life?”

Wasiu Babalola, a professor with Atiba University, commended the historical presentation, saying; ‘There is no better time to tell our stories than now. And we must tell it in our own way. In our own younger days, we learnt about the slave trade from films like The Roots, the story of Kunta Kinte produced by the West.

”But now our children use the Internet to get the information. So, we have to tell this story in a manner so they will understand what actually happened.’

According to Babalola, a professor of Hotel Management and Tourism, ‘When you say Odigbose, it means you are leaving. It is bye-bye forever. Now we are saying Odigbose. And that word now has more meaning to our tradition: that despite all we faced, we are still here.’

JMC-Alliance Co-operative Society Limited recently raised expectations in the cooperative enterprise community as it stepped into the future of this enterprise with the launch of Digital Cooperative Enterprise and Grassroots Financial Empowerment.

The launch is a foray into a new era of cooperative enterprise and has positioned JMC-Alliance as a digital-first public cooperative, redefining how communities access shared resources, financial empowerment and collective growth.

By combining technology with grassroots engagement, the cooperative seeks to build a legacy of trust and innovation that resonates with Africa’s next generation of leaders.

At the launch, the cooperative emphasised three pillars: inclusive growth, financial inclusion and financial security. What makes JMC-Alliance unique is its dual approach.

On one hand, it is fully digital, designed to empower tech-savvy youth with micro-lending and wealth-building tools accessible through smartphones. On the other, it deliberately incorporates traditional, offline methods to ensure market traders and grassroots communities are not left behind.

Whether through mobile apps or physical registers at the market square, the cooperative promises accessibility for all.

Joseph Onwuka, JMC-Alliance chairman, explained that the model was inspired by the need to merge traditional cooperative structures with digital innovation.

‘We are adopting a more pragmatic and market-driven model. The objective is not to abandon the traditional approach but to combine it with digital innovation so we can build a more flexible, accessible and sustainable business for the future,’ he said.

Technology is central to the cooperative’s vision. Onwuka noted that digital platforms will enhance transparency, member participation and sustainability. Members will be able to monitor their accounts, access services and resolve issues remotely, ensuring continuous communication and responsiveness.

Mary Okafor, a director at the company, highlighted the cooperative’s role in connecting the diaspora to local opportunities. She said structured channels would allow Nigerians abroad to invest earnings back home, supporting market women and small business owners with responsible loans that enable sustainable growth.

‘Instead of simply giving people money, we can provide responsible loans that enable market women and other small business owners to stock their businesses, keep trading, increasing their turnover and ultimately growing their enterprises,’ she explained.

Looking ahead, Onwuka said the cooperative’s legacy would be measured by the people it empowers. ‘We are going further into the grassroots, reaching people directly and creating opportunities that can make a real difference in their lives.

‘Our vision is to become a major player in Nigeria’s financial sector. Very soon, you will see JMC -Alliance everywhere, across Nigeria,’ he assured.

The launch signals a new chapter in cooperative development, one where digital transformation meets grassroots empowerment. JMC-Alliance is positioning itself not just as a financial association but as a community vehicle designed to drive inclusive prosperity and build a trusted nationwide brand.

Its ambition is to create a cooperative that is both modern and deeply rooted in the realities of everyday Nigerians, ensuring that financial inclusion is not just a slogan but a lived experience for millions.

The road to 2027 is no longer a distant political calendar event. It is here. The gladiators are already in the arena, squaring up, guarding territories, testing alliances and deploying strategies that leave little doubt that the coming general election will be a winner-takes-all battle. In Nigerian politics, there is no prize for second place.

The entire political atmosphere is charged, tense, and transactional. The old cliché says all is fair in war and politics. But in a constitutional democracy, not all should be fair. There is supposed to be an umpire – the Independent National Electoral Commission (INEC) – whose constitutional duty is to checkmate excesses, guarantee a level playing field and protect the sanctity of the ballot.

What we are witnessing, however, suggests that the ruling All Progressives Congress (APC), both at the federal and state levels, is not leaving anything to chance. Its body language, its control of public infrastructure, its relationship with security agencies and its apparent tolerance of anti-opposition actions at the sub-national level all point to a deliberate strategy to shrink the political space.

Politics is visual. Visibility creates viability in the mind of the electorate. Take Lagos as a case study. Lagos is arguably Nigeria’s most politically competitive state, with at least five major parties jostling for the presidency, governorship, Senate, House of Representatives and State Assembly. Yet, a tour of the city – from train stations to shopping malls, from Third Mainland Bridge to Ikeja, from Alausa to Lekki – shows a near-total dominance of the ruling party’s billboards, posters and insignias.

There is no law in Lagos that forbids opposition parties from erecting billboards. But billboard politics in Lagos comes with unwritten terms and conditions. Cost, approval bottlenecks, and political considerations determine who gets prime locations.

Even where opposition parties manage to hoist posters, their materials often do not survive 48 hours. Area boys tear them, security agents remove them on ‘environmental’ grounds, or they are simply blacked out overnight. The effect is psychological – to render opposition parties non-existent in the public consciousness. If people do not see you, they assume you are not contesting.

This is not unique to Lagos. It is a national pattern, only with local variations. In Abia State, reports indicated that the government fixed N200,000 for presidential billboards, N150 million for governorship, N100,000 for Senatorial, N50,000 for House of Representatives and N20,000 for State House of Assembly campaign materials before candidates could advertise.

In the Federal Capital Territory, there were unconfirmed reports in August 2026 that the Minister, Nyesom Wike, fixed campaign boards at N750 million. While both Abia and the FCT authorities denied or downplayed these figures, the perception they created was enough: politics is being priced beyond the reach of many. The figures cited are based on media reports and political claims and were not independently verified for this analysis.

What is happening fits perfectly into what political scientists call Machiavellianism – a doctrine propounded by Niccolò Machiavelli, the Florentine diplomat, in 1513 in his book ‘The Prince’.

Machiavelli argued that the end justifies the means. In its crudest political application in Nigeria, it translates to: It is better to be feared than loved, if you cannot be both. A ruler may lie, deceive, manipulate, and be ruthless, so long as it keeps power. Morality is weakness in politics. What matters is result, not method. Keep your friends close and enemies closer. Use people as tools and Power must be retained at all costs.

The signs of a Machiavellian political actor are clear: manipulative, cunning, always ten steps ahead with a hidden agenda, devoid of conscience, able to commit political evil and sleep soundly because it favours his interest.

Since 1999, Nigeria’s electoral cycles have increasingly displayed these traits, but the road to 2027 appears to be its peak. The doctrine is no longer hidden; it is practised openly.

Machiavellian politics in Nigeria is not just about posters. It is about money and the selective application of law.

The Economic and Financial Crimes Commission (EFCC) has repeatedly stated that vote-buying is a crime under the Electoral Act. Yet, in reality, vote-buying has become institutionalised. In off-cycle elections in Kogi, Bayelsa, Imo, Edo, Ondo and Osun, observers documented open cash distribution at polling units. Voters are given money, made to swear an oath, or asked to snap their ballot as evidence of compliance.

Whether the money eventually reaches the voter or is diverted by middlemen is a different discussion, but the culture of monetised elections has come to stay.

Similarly, the law appears to have two versions. One for the ruling party and another for the opposition. The most glaring example is local government elections. Across Nigeria’s 36 states, irrespective of which party controls the state, the ruling party in that state sweeps 100 percent of local government chairmanships and councillorships. Not 80 percent, not 90 percent – 100 percent. In a democracy with genuine competition, that is statistically impossible without manipulation.

No discussion of Machiavellian politics in Nigeria today is complete without examining the role of the Minister of the Federal Capital Territory, Nyesom Wike.

Wike remains a member of the People’s Democratic Party (PDP) but serves in an APC-led federal government. He openly declares that he will work for President Bola Ahmed Tinubu’s re-election while still influencing who becomes what in the PDP. Many opposition figures believe such dual loyalty cannot exist without tacit approval from the Presidency. It is the classic Machiavellian tactic: infiltrate the enemy camp, sow confusion, and keep it perpetually in crisis.

As a result, less than three months to the election, the PDP does not know who its presidential candidate is. INEC’s list, signed by its Secretary Rose Oriaran-Anthony, shows 18 candidates. It lists President Bola Tinubu for APC, Atiku Abubakar for ADC, Peter Obi for Nigeria Democratic Congress (NDC), Seyi Makinde for Allied Peoples Movement (APM), Sandy Ojang Onor for PDP, while another faction led by former Minister Kabiru Tanimu Turaki claims former President Goodluck Jonathan as its candidate. The matter is in court.

If the court overturns Sandy Onor’s candidacy close to the election, how will a replacement campaign nationwide? That uncertainty is itself a strategy – keep the opposition in court, not on the campaign trail.

Political actors and civil society groups point to four recurring methods: Police Summons and Criminalisation of Opposition: Former Kaduna Governor Nasir El-Rufai and ADC leaders were summoned by police for alleged criminal conspiracy and incitement; El-Rufai remains in detention till date.

Former Vice President Atiku Abubakar described it as a coordinated assault on civic freedoms. The APC responded that no one is above the law. The pattern, however, shows that opposition figures are far more likely to face high-profile police invitations than ruling party figures facing similar allegations.

Restriction of public space

In Osun, Abia, and Akwa Ibom, opposition parties accused Governors Ademola Adeleke, Alex Otti, and Umo Eno of revoking leases of campaign venues, deploying police to seal rally grounds, or denying use of stadiums. Governments denied political motives, citing security or unpaid fees. But the timing, always close to major opposition rallies, raises suspicion.

Legislative and electoral friction

In the National Assembly, opposition lawmakers walked out over moves to make electronic transmission of results optional rather than mandatory. For them, it was a deliberate weakening of transparency safeguards introduced in the 2022 Electoral Act.

Human rights and civic space

Human rights organisations warn that clampdowns, arbitrary arrests of activists, and intimidation of journalists create a chilling effect that damages Nigeria’s democratic credentials.

To be fair, governments at federal and state levels deny all allegations of stifling opposition. Their counter-narrative rests on four pillars: First, that they are merely enforcing the law. Corruption investigations and police summons are not political, but legal duties. Second, that opposition is crossing from dissent to sabotage, spreading disinformation and inciting chaos that threatens national security.

Third, that opposition parties lack coherent policy alternatives and rely on constant lamentation and victimhood to remain in the news.

Fourth, that many reported incidents are actions of overzealous local officials, area boys, or state-level actors, not a centrally coordinated federal directive.

These defences cannot be dismissed entirely. In some cases, opposition figures do weaponise allegations to avoid legitimate accountability. But when the pattern is nationwide, simultaneous, and benefits only one side, the ‘isolated incident’ explanation becomes less convincing.

This concern was recently echoed by Oyo State Governor and APM presidential candidate, Engr. Seyi Makinde. Speaking in Uyo during the Makinde/Daura 2027 Presidency South-South Town Hall meeting, Makinde noted that before 2023, APC had no foothold in the South-South, but after winning the presidency, began a systematic drive to capture the zone by stifling opposition.

‘I can tell you they are doing everything possible to ensure that the opposition does not unite,’ Makinde said. His statement underscores a fear among opposition governors that federal might is being used to coerce defections and weaken structures.

History teaches us why Machiavellian monopoly is dangerous. The collapse of the First Republic in 1966 was precipitated by a combination of ethnic rivalry, electoral fraud, and the suppression of opposition. When a ruling party believes it can crush all dissent, it closes channels for peaceful change, leaving extra-democratic forces to fill the vacuum.

Nigeria is too large, too diverse and too complex to be governed as a one-party state. A democracy without a viable opposition is an autocracy in disguise. It breeds apathy, fuels agitation, and in worst cases, invites military incursion under the guise of ‘correcting’ the polity.

If in 2027, Nigerians go to the polls feeling that their voices do not count, that opposition has no say, that whatever government says is truth – even when it is obvious that government has made mistakes and then claims its voice was cloned or generated by artificial intelligence – then we have crossed a dangerous line.

We would have built a democracy where the masses have no say, where institutions are captured, and where government never comes clean.

Machiavellianism may win elections, but it does not build a nation. It creates fear, not legitimacy. It creates compliance, not consent.

The 2027 election offers Nigeria a choice: continue down the path where the end justifies any means, or return to the foundational principle that democracy thrives on competition, dissent, and respect for the opposition.

INEC, the judiciary, security agencies and the media must rise above partisanship. The ruling party must realise that allowing opposition to breathe is not weakness; it is strength. And the opposition must realise that unity, not litigation, is its only antidote to Machiavellian capture.

Otherwise, we risk a victory that costs us our democracy.

Nigeria’s rapidly changing urban landscape is creating new opportunities for real estate developers. However, weak planning institutions, inefficient land administration, and inadequate infrastructure threaten to deepen the housing crisis and undermine city sustainability.

From Lagos to Abuja and other emerging urban centres, the expansion of residential estates, commercial developments, and mixed-use properties is reshaping how Nigerians live, work, and invest. Yet the pace of construction raises fundamental questions about whether urban development is keeping pace with the institutional capacity required to manage growing cities.

The challenge is no longer simply how many buildings can be constructed or how much capital can be attracted into the property market. The critical question is whether development is producing functional cities with affordable housing, reliable infrastructure, efficient transportation, and a decent quality of life.

These concerns featured prominently at the Housing For All Support Initiative’s two-day summit on City Evolution and the Changing Characteristics of the Modern Urban Environment, held at the Lagos Chamber of Commerce and Industry (LCCI) Conference Centre in Ikeja on October 21-22, 2026.

The event brought together built-environment professionals, academics, policymakers, and industry stakeholders to examine the future of Nigerian cities.

Discussions highlighted the need to place housing and sustainable urban development at the centre of economic planning, particularly as population growth, technological advancement, environmental pressures, and changing investment patterns transform the urban landscape.

Timothy Nubi, a Professor at the University of Lagos, in his remarks at the summit, emphasised the importance of understanding cities as evolving systems rather than physical spaces filled with buildings. His contribution drew attention to the historical significance of urban design and the need to rethink contemporary planning.

Echoing these concerns, fellow academic Prof. Kemiki Adebowale noted that physical expansion without corresponding policy frameworks leads to systemic urban failure. He stressed that institutional alignment across municipal authorities remains essential to preventing haphazard structural development.

The implications for the property market are significant. The commercial success of individual developments cannot be separated from the quality of the broader urban environment in which they operate.

According to a September 2025 report on Lagos by the African Cities Research Consortium, the city’s development challenges are closely linked to political and governance arrangements. The report identified significant inadequacies in transportation, water, sanitation, energy, and waste management. These weaknesses affect city operations and constrain wider economic transformation.

For property developers, such deficiencies translate into higher development costs, greater operational uncertainty, and increased pressure on surrounding infrastructure.

Where public transportation is unreliable, residents spend more time and money commuting. Where drainage and waste management systems are inadequate, neighbourhoods become vulnerable to flooding and environmental degradation. Where electricity and water supplies are inconsistent, developers and households face additional expenses to secure essential services.

These problems illustrate a central weakness in Nigeria’s urban model: private investment can deliver buildings, but it cannot independently provide public infrastructure and institutional coordination.

Increasing construction volume alone cannot resolve the housing crisis. In December 2025, the Federal Ministry of Housing and Urban Development disclosed that approximately 15,2-million housing units nationwide were structurally inadequate, underscoring the qualitative dimension of the deficit.

The distinction is critical for real estate investment. A building may provide shelter without meeting the requirements of adequate housing, particularly where occupants lack dependable water, electricity, sanitation, accessible roads, and social infrastructure.

The market also faces a severe affordability problem. As construction costs rise and access to long-term financing remains limited, developers have strong commercial incentives to target high-income buyers.

An Estate Intel report on the Lagos Real Estate Development Pipeline Report 2025/2026 estimated that more than 34 800 residential units were in the Lagos development pipeline. Yet the report identified a persistent supply gap in the middle-income and affordable housing segments despite heightened construction activity.

This imbalance creates a structural contradiction. A city can experience a construction boom while a substantial proportion of its population remains unable to afford suitable accommodation.

The consequence is a widening divide between formal developments serving higher-income households and lower-income residents pushed towards distant settlements, overcrowded accommodation, or unplanned areas.

Beyond affordability, the effectiveness of institutions responsible for land administration, physical planning, building approvals, and infrastructure delivery remains central to market stability.

A functioning land administration system provides clarity over ownership, reduces disputes, and helps investors assess transactional risks. Effective planning institutions determine where development should occur, the infrastructure required to support it, and the environmental constraints that must be respected.

Where these systems are weak, developers and buyers face uncertainty over land titles, approval processes, and the legality of existing structures.

The Federal Government acknowledged these challenges in March 2025 when the housing ministry announced plans to strengthen documentation through the National Land Registration, Documentation and Titling Programme.

At the time, the ministry stated that less than 10% of land in Nigeria was registered, citing inadequate ownership records, inefficient registration processes, and insufficient data for land valuation.

Weak land administration discourages formal investment, prolongs transactions, and exposes buyers to competing property claims. It also complicates public infrastructure provision because authorities struggle to establish clear ownership or coordinate land use.

When physical planning is poorly enforced, buildings emerge without consideration for road capacity, drainage, or environmental risks. Such developments impose costs on the wider population when authorities must subsequently address flooding, traffic congestion, and unsafe structures.

Institutional weakness carries a measurable economic cost. It reduces investor confidence, increases operational uncertainty, and makes the delivery of affordable housing more difficult.

The transformation of Nigerian cities requires a reconsideration of the relationship between private real estate investment and public responsibility.

Developers mobilise capital, acquire land, employ construction workers, and build properties. However, the broader urban environment depends on decisions across multiple public institutions responsible for roads, transportation, water, electricity, drainage, and environmental protection.

When public institutions operate without coordination, the result is disconnected development: new estates emerge without public transport, commercial districts expand without road capacity, and residential communities grow faster than sanitation networks.

A 2025 report by the African Cities Research Consortium identified the interaction between political arrangements and urban systems as a major factor shaping Lagos’s challenges. The analysis suggests that addressing infrastructure gaps requires attention to the governance structures that determine how services are delivered.

This reality makes governance reform as important as attracting new property capital.

State and local authorities require stronger planning capacity, reliable urban data, and transparent development approval systems. Land records must become accessible, while building standards and environmental regulations must be enforced consistently.

Governments must also coordinate infrastructure investment with residential and commercial expansion. This coordination ensures new developments connect to functioning transport networks and essential services rather than leaving residents to bear the cost of institutional failure.

The Housing For All Support Initiative summit provided an opportunity to move the discussion beyond construction volume towards long-term urban quality.

Its central theme, City Evolution and the Changing Characteristics of the Modern Urban Environment, underscores the need for collaboration among government, developers, built-environment professionals, investors, and communities.

Summit speakers emphasised that housing is more than a physical structure: it is fundamental to family stability, economic productivity, social inclusion, and human development. The organising committee called for practical recommendations that can translate into public policy, professional practice, and community initiatives.

For Nigeria, the task is to ensure urban expansion produces more than new skylines and rising property values.

A successful strategy must incorporate affordable housing, protect residents from environmental risks, improve access to essential services, and provide institutional certainty for responsible investment.

Housing policy, land administration, transport planning, and environmental management are interconnected; failure in one area undermines progress in the others.

As Nigerian cities expand, governance quality will determine whether real estate development drives inclusive economic growth or reinforces existing inequalities.

Ultimately, the measure of a successful city is not the number of buildings it contains, but whether residents can live safely, move efficiently, access economic opportunities, and afford decent homes. Without stronger institutions and accountable urban governance, Nigeria risks building larger cities without building better ones.

Gunmen again struck in Kwara State to abduct a middle-aged man, Bamidele Matthew and his secondary school son, IbukunOluwa Bamidele.

According to one of the family members, Bamidele AKA Photo was on the farm with two of his children.

The source said: ‘Three of them were working on their farm at Idofin when the kidnappers kidnapped them; one of them escaped.’

He added that the son, who had just finished his secondary education, was on the farm, helping his father on the ill-fated day.

‘They were kidnapped on their farm where they were working; the kidnappers were not on a bike but stormed their farm where they were working,’ he informed.

He added that: ‘The kidnappers have telephoned the family, demanding a N20 million ransom.’

The daring kidnappers, according to the investigation, pounced on their victims at their farm between Odo-owa and Idofin, Kwara South senatorial area of Kwara State.

However, the family and the entire community have launched pleas to the state government and security agents for assistance that would ensure the release of the father and son.

‘We appeal to the Kwara State Government, the Nigerian Government, security agencies and the world at large to come to our rescue,’ they pleaded.

They have also, printed fliers bearing the pictures of the Bamideles, urging members of the public for help on who to contact on sighting them.

‘Please share this flyer. Every share could help bring them home,’ they urged.

For many Nigerians, scam calls, phishing messages, and fake websites are becoming increasingly difficult to identify as fraudsters adopt more convincing ways to impersonate trusted institutions and services.

Africa now has approximately 570 million internet users who depend on digital platforms for banking, healthcare, education, and government services, based on the 2026 INTERPOL’s African Cyberthreat Assessment Report.

However, many users have been exposed to cybercriminals because the security systems, laws, and institutions meant to protect them have not kept up with the speed of adoption.

The research findings, reported cybercrime losses across Africa more than doubled between 2024 and 2025, rising from $192 million to $484 million, while identified victims grew from 35,000 to 87,000.

INTERPOL estimated that cybercrime caused at least $5 billion in direct economic damage across the continent in 2025, and that 55 percent of reported cases involved AI in some form.

Accordingly, mobile money fraud is now the most prevalent online scam, with 97 percent of responding countries identifying it as a major threat.

Recent incidents shared online show how easily everyday interactions can turn into financial risks.

In one case, a Nigerian user shared on X how she lost about N400,000 after clicking a link relating to an alleged Federal Road Safety Corps (FRSC) traffic offence and entering her card details on what appeared to be a website.

The experience highlighted how increasingly convincing phishing attempts can be, particularly when they appear to come from familiar institutions or government services.

The challenge is not limited to phishing links. In another social media post, a user described how money was subsequently debited from his account after his mobile phone was stolen.

In situations like this, losing a device can quickly become a broader concern about the security of the financial accounts connected to it.

While digital payment fraud losses in Nigeria fell by 51 percent to N25.85 billion in 2025, Nigeria Inter-Bank Settlement System Plc (NIBSS) says social engineering remains a significant concern, with phishing, SIM-swap fraud and account compromise continuing to evolve.

Across Africa digital inclusion has expanded access to education and financial tools, but cyber education has struggled to keep pace.

Young people often expose themselves to identity theft, phishing scams, and account takeovers without realizing it, because they lack practical security habits.

‘Every young person deserves the confidence to learn, work, connect, and build their future safely online,’ Simi Nwogugu, President and CEO of JA Africa, stated.

Nwogugu disclosed that JA Africa is empowering Africa’s next generation with the digital safety skills needed to thrive in an increasingly connected world, through an initiative tagged CyberSmart.

‘By building simple cyber-safe habits today, young people can protect their opportunities tomorrow.’

Deepening digital awareness of fraud

A compromised account or stolen phone can disrupt everyday transactions and create uncertainty about whether their money is truly safe.

The experiences being shared by Nigerians reinforce an important reality: safer digital banking depends on both strong security systems and customers understanding how to recognise and respond to threats.

It is against this backdrop that digital payment platforms are placing greater emphasis on helping customers recognise potential threats and make better use of the security tools available to them.

‘Trust is fundamental to banking. Customers need to know that the institution they rely on is regulated, secure, dependable, and available when they need it,’ Chika Nwosu, managing director, PalmPay Nigeria, stated.

According to him, the digital payment platform initiated ‘PalmPay Dey For You’ campaign, which reflects it’s broader approach to security by design, where protection is embedded into the customer experience rather than introduced only when something goes wrong.

‘At PalmPay, protecting our customers and giving them greater control over their banking experience is central to how we operate.’

Nwosu stated that the digital platform wanted customers to understand the security tools available to them, use the tools confidently, and know that PalmPay remains a reliable financial partner for their everyday needs.

He added that through educational content, FAQs, customer forums, and product-led communication, the campaign will provide practical information on account security, fraud awareness, and the steps customers can take to better protect themselves.

‘For PalmPay, the message is clear: convenience, value and security should work together,’ Nwosu stated.

He reiterated that with regulatory oversight, a growing suite of customer-protection tools and the trust of millions of users, PalmPay remains committed to delivering a banking experience Nigerians can depend on.

The evolving fraud risks

Unlike generic, highly technical cybersecurity courses, CyberSmart was built for the day-to-day realities of young Africans to stay safe on the digital space.

As a leader in youth entrepreneurship, financial-health, and work-readiness education across Africa, JA Africa is extending its reach into digital safety, now a foundational life skill for success in education, entrepreneurship, and employment.

CyberSmart is hosted on JA Africa’s Skills Lab platform, which has reached more than 100,000 young people across the continent since 2020, and can be accessed on any internet-enabled device.

‘When learners recognize these situations in characters and scenarios that look like their own lives, the lessons stick. Our goal is to turn awareness into everyday habits that young people carry into school, work, and business,’ Bimpe Olufemi, Vice President, Digital, JA Africa stated.

On the other hand, digital platforms are strengthening their dispute-management experience through initiative like ‘Dispute Page’ by PalmPayq, which gives customers a dedicated channel to submit and monitor transaction disputes directly within the app.

As scams become increasingly convincing, lived experiences show why customers need both the awareness to recognise threats and the tools to respond when something goes wrong.

According to Nwosu, upgraded PalmPay Security Center brings protection tools and secure support options together, giving customers greater control over their account.

He reminded customers to avoid sharing sensitive information such as PINs, OTPs, and passwords. According to him, customers are also encouraged to be cautious with unexpected links and messages.

He added that customers should verify who is contacting them, and use available security controls when they suspect their account may be at risk.

‘For example, customers whose phones are lost or stolen can use *861*12# USSD Lock to restrict access to their PalmPay account and reduce the risk of unauthorised transactions,’ Nwosu stated.

However, customers concerned about activity during late hours, Night Guard allows them to set protection hours between 11:00 PM and 7:00 AM, with additional verification required for transfers during the selected period. ‘Large Transaction Shield provides additional verification for large-value transactions.’