Category: Business Day

Katebridge Impact Advisory, a civic tech firm, has launched in Nigeria with a mandate to help businesses, foundations, philanthropists and development organisations improve how they design, measure and demonstrate the impact of their social investments.

The launch comes as organisations across Nigeria and Africa face increasing pressure to demonstrate not only the resources committed to social programmes, but also the outcomes and lasting changes generated by those investments.

Katebridge’s approach is focused on helping organisations move beyond measuring activities such as the number of beneficiaries reached or programmes delivered to assessing whether interventions are producing meaningful and sustainable outcomes.

The firm provides services across CSR strategy and execution, philanthropy advisory, community impact programmes, impact measurement, and monitoring, evaluation and learning.

According to the firm, its core proposition is that social investments should be assessed by the changes they create rather than simply what is delivered.

This approach involves examining whether an intervention addressed the problem it was designed to solve, what changed for the communities involved, what contributed to those changes, and whether the outcomes can be sustained.

Katebridge said its founding team combines experience across international development, public policy, programme management, community development, strategic communications, research and learning.

Karo Omu, co-founder and managing partner, brings experience in programme management, social impact strategy, community development and stakeholder engagement.

She is also the founder of Sanitary Aid Initiative, a community-focused social intervention organisation.

Temidayo Musa, co-founder, has experience spanning international development, humanitarian emergencies, public policy, strategic communications, research and learning, as well as the use of technology to improve social services and governance.

The founders said they intend to position Katebridge at the intersection of strategy, implementation and evidence in the development sector.

‘The conversation around social investment is evolving. Organisations are being asked to demonstrate not only what they have invested, but what that investment has achieved,’ the firm said.

Katebridge said its initial operations will focus on Nigeria and the wider West African region, where organisations are dealing with complex social and economic challenges while facing greater demands for responsible and accountable investment.

Beyond advisory services, the firm plans to contribute to the social impact ecosystem through research, knowledge sharing and thought leadership.

Its flagship publication, ‘Measuring What Matters: The Impact Investment Landscape Report 2026’, is expected to examine the changing impact investment space and the growing role of data, evidence, measurement and accountability in improving social investment.

The firm also plans to examine challenges across areas including maternal and public healthcare, youth unemployment, climate resilience, financial inclusion, food security, youth development and sanitation.

Katebridge’s launch reflects a broader shift in the social investment sector towards evidence-based approaches that seek to establish whether funding and interventions are producing measurable results.

For the firm, counting beneficiaries or measuring activities remains useful but does not provide a complete picture of impact.

It argues that organisations need stronger systems for understanding outcomes, learning from interventions and using evidence to guide future investments.

Katebridge said its ambition is to become a trusted impact partner for organisations seeking to make their social investments more strategic, measurable and effective across West Africa.

The firm is now open to organisations seeking support with social impact strategy, philanthropic investments, community programmes and impact measurement.

The Kwara Chamber of Commerce, Industry, Mines and Agriculture (KWACCIMA) has unveiled plans to strengthen its advocacy for policies that promote investment, improve the ease of doing business and create an enabling environment for enterprises to thrive in the state.

Abu Salami, President and Chairman of the Council of KWACCIMA, stated this on Thursday in his address at the opening of the chamber’s 56th Annual General Meeting (AGM), held at the KWACCIMA Secretariat, Afon Junction, Ganmo, Kwara State.

Salami said the Chamber was determined to reposition KWACCIMA as a leading chamber of commerce in Nigeria through innovation, strategic partnerships, institutional reforms, improved member services and sustainable programmes capable of delivering measurable value to its members.

He described the AGM as a significant event in the life of the chamber, providing an opportunity to review its activities and achievements over the past year, assess challenges, strengthen unity among members and chart a progressive course for the future of the chamber and the private sector in Kwara.

According to him, despite prevailing economic challenges confronting businesses across the country, KWACCIMA remained committed to promoting the interests of the organised private sector.

He said the chamber had, during the year under review, organised and participated in several strategic programmes aimed at promoting commerce, industry, agriculture, mining and entrepreneurship.

Salami added that the Chamber had strengthened its relationships with government institutions, corporate organisations, development partners and diplomatic missions.

He specifically cited its collaboration with the Indonesian Trade Promotion Centre and the successful Indonesian Business Forum held in Ilorin as initiatives that had opened new opportunities for trade and investment between Kwara businesses and international business communities.

The KWACCIMA president also stated that the Chamber had intensified its membership drive, encouraged stronger participation by sectoral associations and continued to provide platforms for business networking, investment promotion and enterprise development.

He added that the achievements recorded during the year were made possible by the collective support and commitment of members, the Executive Council, secretariat staff and partners.

‘As we prepare for the forthcoming 13th Kwara Trade Fair, the Executive Council remains committed to delivering an event that will further showcase the enormous economic and investment potential of Kwara State while creating greater opportunities for businesses to grow,’ he said.

Salami urged members to actively participate in the AGM’s deliberations, stressing the need for openness, constructive ideas and a shared commitment to the continued growth of the chamber.

He expressed appreciation to members, past presidents, executive council members, governments at all levels, corporate organisations, development partners and other stakeholders for their support.

‘We shall build a stronger institution that will continue to promote economic prosperity, advocate for the private sector and contribute meaningfully to the development of Kwara State and Nigeria as a whole,’ he said.

Also speaking, Damilola Yusuf Adelodun, the Kwara State Commissioner for Business, Innovation and Technology, said the AGM represented not only a long-standing tradition but also an important platform for discussing ways to strengthen the state’s business environment.

The Commissioner, represented by Rabiat Bola Salaudeen, the Director of Industry, commended KWACCIMA for its sustained advocacy for the business community, promotion of industry partnerships and efforts to strengthen Kwara’s economic base.

She acknowledged the resilience of businesses in the state despite global economic uncertainties, supply chain disruptions, post-pandemic recovery challenges, fuel subsidy removal and foreign exchange reforms.

According to her, the ability of businesses to adapt and innovate remained critical to the state’s economic progress.

She said the State Government’s vision was to build a prosperous Kwara where businesses could thrive, create jobs and compete effectively at national and international levels.

‘At the Ministry of Business, Innovation and Technology, we are committed to creating an enabling environment that will not only support existing businesses but also attract new investments, foster innovation and improve the ease of doing business across all sectors,’ she said.

Adelodun stressed the importance of stronger collaboration between the government and private sector, noting that sustainable economic development could not be achieved by government alone, adding that the government would continue to engage stakeholders, identify barriers affecting businesses and pursue practical solutions to make Kwara an increasingly attractive destination for investment and enterprise development.

She posited that the State Government was investing in infrastructure, including roads, technology, healthcare facilities, education, digital connectivity and other facilities required to support economic growth.

On access to finance, the commissioner said the government is strengthening support for Micro, Small and Medium-sized Enterprises (MSMEs), describing them as the lifeblood of the economy.

She said the Kwara State Social Investment Programme (KWASSIP) had been strategically positioned to provide support for businesses, while arrangements were underway to reintroduce and reinvigorate the Bureau of Micro, Small and Medium Enterprises to cater to larger businesses.

According to her, the government was also engaging Deposit Money Banks to provide lending support to businesses and developing programmes around mentorship, skills training and market access.

She said the initiatives were aimed at equipping businesses with the resources and skills needed to grow and compete effectively.

The commissioner further highlighted Kwara’s resource base, skilled workforce and strategic location as opportunities for local and international trade, adding that the government was particularly focused on promoting industries with strong export potential.

She said the ministry, in collaboration with educational institutions and private-sector partners, was also advancing vocational training, apprenticeships and entrepreneurship programmes for young people across the state.

Adelodun listed the ICT Hub, Sugar Film Factory Studio, Garment Factory and agro-processing facilities, including shea nut and shea butter projects, among initiatives contributing to economic development across various sectors.

She also said government incentives, including tax holidays and reliefs, were being deployed to encourage business growth, while the Kwara State Internal Revenue Service (KW-IRS) had been strengthened to provide improved services to businesses.

Representatives of the National Cashew Association of Nigeria (NCAN), Nigeria Export Promotion Council (NEPC), Lower Niger River Basin Authority, Standards Organisation of Nigeria (SON) and Nigeria Social Insurance Trust Fund (NSITF), in their goodwill messages and presentations, encouraged KWACCIMA to sustain its role in coordinating economic development and strengthen collaboration among stakeholders.

The AGM provided a platform for stakeholders in the public and private sectors to review developments in Kwara’s business environment and explore strategies for deepening investment, enterprise development and economic growth in the state.

Festus Keyamo, the Minister of Aviation and Aerospace Development, has ordered aviation agencies and airlines to work out repayment plans for outstanding debts owed by the carriers, in a bid to prevent future industrial disruptions in the sector.

In a statement by Mahmud Kambari, the Permanent Secretary, Ministry of Aviation and Aerospace Development, noted that the minister gave the directive on Thursday after convening an emergency meeting with airline operators, aviation sector unions and heads of aviation agencies.

The meeting followed Tuesday’s industrial action that temporarily disrupted operations of most airlines on Tuesday at some Nigerian airports.

The statement also noted that the meeting also resolved to allow aviation unions direct access to workers of all airlines to distribute unionisation forms, with the Nigeria Civil Aviation Authority (NCAA) directed to sanction any airline that prevents such access, but noted that workers had a right to decide not to belong to unions.

Kambari noted that the emergency meeting was convened to address the ‘burning issues’ in the sector and foster greater understanding, cooperation and progress among stakeholders.

According to the statement, under the resolutions reached at the meeting, the NCAA and other aviation agencies were to obtain payment schedules from indebted airlines, with the repayment period spread over a reasonable timeframe, taking into consideration the airlines’ cost of operations and prevailing economic realities.

He said: ‘The Nigeria Civil Aviation Authority (NCAA) and other heads of aviation agencies are to obtain schedule of payments from the airlines, spread over a reasonable timeframe, taking into cognizance, Airlines cost of operation and current economic realities.

‘The Honourable Minister of Aviation recognises the right of workers to decide not to belong or to belong to unions; the Honourable Minister also recognises the rights of the workers to decide for themselves, rather than through management.

‘As a result, the NCAA should immediately ensure that the unions have direct access to the workers of all airlines only to distribute their forms for the workers to directly indicate whether they intend to unionise or not. Any airline that prevents this direct interface will be sanctioned by the NCAA.’

The Denam Charity Foundation, the corporate social responsibility (CSR) arm of Denam Group, has awarded two-year scholarships to 30 students of Government Day Secondary School, Dutse Alhaji, Abuja, in a move aimed at improving access to education for children from underserved communities.

The scholarship programme, the foundation’s first education-focused initiative, will cover the beneficiaries’ school fees for the next two years, helping to reduce the financial burden on their families.

A total of 50 students sat for the scholarship examination, with 30 emerging successful. The remaining 20 students also received consolation prizes in recognition of their participation.

Speaking at the presentation ceremony, Dr. Igwemezie, founder of the foundation, encouraged the students to see education as the foundation for a better future.

Drawing from his own experience of rising from humble beginnings to earning four university degrees and holding leadership positions in global companies, he said education had transformed his life.

‘Education is the most transformative force for personal growth and development,’ he said. ‘It changed my life, and it can change yours too.’

He urged the students to remain focused and committed to their studies, noting that the scholarship was an opportunity to pursue their dreams.

‘You have the vehicle that will take you to a brighter future. It is now up to you to work hard and make your dreams a reality,’ he said.

The foundation said the scholarship programme is part of its broader CSR strategy, which also focuses on healthcare outreach and youth empowerment.

It added that the initiative is designed to be sustainable and will be expanded to reach more communities in the coming years.

Balogun Emmanuel, principal of Government Day Secondary School, welcomed the intervention, describing it as timely support for students and the school community. He also highlighted some of the school’s pressing needs, including an examination hall and photocopying machines, while expressing appreciation to the foundation for investing in education.

One of the scholarship beneficiaries, Aliye Mohamed Mubarak, said receiving the award had strengthened his determination to succeed academically.

‘I was excited when I heard about the scholarship examination,’ he said. ‘My mother encouraged me to take part, and I worked hard to prepare. Winning the scholarship has motivated me to do even better in school.’

The scholarship presentation coincided with this year’s Children’s Day celebration, underscoring the foundation’s commitment to expanding educational opportunities and supporting the development of young people through private sector-led social investment.

For as long as anyone has done business in Nigeria, the phone call was an asset you owned. A number to reach a customer, confirm an order, chase a payment, close a deal. It was the most direct line a company had to the people it served. That asset has quietly turned into a liability, and most businesses have not adjusted their thinking to match.

The reason is simple and brutal. More than one in every two calls Nigerians now receive from an unknown number is flagged as spam or fraud, the highest rate in Africa. So people have learned the only rational defence: ignore the unknown number. Let it ring out, assume the worst.

That single, sensible habit, multiplied across a whole country, means the channel businesses have relied on for decades no longer reliably works. When customers stop trusting unknown callers, they stop trusting your call too. The call still connects. It just no longer gets picked.

This is not a small-business problem or a big-business problem. It is both.

For the small business, it is the deal that dies in silence. You call a customer back about the order they enquired about yesterday. They do not recognise the number, assume it is a scam, and let it ring out. You never get a second chance, because they never knew it was you. For a one-person shop or a growing SME, whose entire pipeline depends on being reachable, every ignored call is revenue that simply evaporates, with no invoice to record the loss.

For the logistics and delivery business, it is the failed drop. The rider calls from the road to confirm the address, the customer sees an unknown number and ignores it, and the package bounces back to the depot. Now you are paying twice to deliver once, and the customer blames you for a failure that started with a call they were too wary to answer. Multiply that across thousands of deliveries and the cost stops being an inconvenience and becomes a line on the balance sheet.

For the telecom operator, it is stranger still. The networks carry the very traffic that has poisoned the well, and they also depend on reaching their own subscribers, for renewals, service messages and support. When their outbound calls land in the same suspicious silence as everyone else’s, the operator is undermined by the exact channel it runs.

And for the bank, it is the deepest cut of all, because the bank did this to itself for the best possible reason. For years, banks told customers a simple, correct thing: we will never call you to ask for your details. That message worked. Customers internalised it. But it also trained an entire market to distrust a call that claims to be from the bank.

Which means the bank’s own legitimate outbound calls, the genuine fraud alert, the real card-services team, the actual relationship manager, now arrive pre-suspected. The institution most dependent on being trusted on the phone is the one that can least use the phone at all.

Step back and the pattern is unmistakable. A bank, a telco, a delivery firm, a corner shop: wildly different businesses, all quietly losing the same asset for the same reason.

The phone call, once the most trusted line between a company and its customer, has become a channel none of them can rely on because none of them can prove, in the moment it matters, that the call is genuinely theirs.

That is the real problem underneath all of it. Not that businesses are being impersonated, though they are. Not that customers are being scammed, though they are. The structural cost is that legitimate businesses have lost the ability to prove they are legitimate on the one channel where it counts, at the one moment a customer decides whether to trust the ring.

Which points to the only durable fix: identity has to travel with the call.

This is where services such as Truecaller for Business change the equation. Its Verified Business Caller ID allows a business to establish a verified identity on calls, including its name, logo and business category, rather than leaving the customer to guess who is behind an unfamiliar number. Truecaller also offers Business Call Reason, allowing businesses to give customers context for why they are calling before the call is answered.

That distinction matters. The answer is not asking customers to become better detectives. It is giving them better information. For a customer waiting for a delivery, a call that arrives with a verified business identity and clear context is fundamentally different from an anonymous number. For someone receiving a call from their bank, the difference between ‘unknown number? and a verified business identity is not cosmetic; it gives the customer an additional signal with which to make an informed decision.

And for businesses, the significance goes beyond a logo appearing on a screen. Truecaller’s business tools are designed around the idea that identity, trust and context should become part of the communication itself. Its Secure Call capability can authenticate calls from verified businesses and display a ‘Secure Call? indication, while its APIs can integrate these capabilities into existing calling infrastructure.

That is the shift businesses need to make: from simply owning a phone number to owning a verifiable identity behind that number.

A verified identity does not make every call welcome, and it should not. Customers should still be free to ignore unwanted communication. But it changes the starting point. The customer no longer has to ask, ‘Who is this number?? before deciding whether the call deserves attention.

For a business, that verifiable identity is becoming as fundamental as a signboard once was. A shop without a name over the door does not get walked into. A company that cannot establish who is calling does not get answered.

In a market where unknown calls are increasingly associated with fraud, being reachable is no longer about having your customers’ numbers. It is about your customers being willing to pick up when you call. And that willingness now has to be earned, communicated and proven on every ring.

The businesses that solve this early will keep the trust their competitors are losing. The ones that continue treating the phone as the reliable asset it used to be will keep wondering why fewer and fewer people pick up.

Nigerian startups and small businesses have a fresh opportunity to secure up to $65,000 through the Economic Community of West African States (ECOWAS) Startup Award 2026.

The initiative is designed to support promising businesses with funding, visibility and opportunities to scale across West Africa. Here’s what you need to know about the award, eligibility requirements and how to apply.

The ECOWAS 2026 Startup Awards applications come with a total cash prize of $65,000 up for grabs among the top three startups.

The second edition of the ECOWAS Startup Awards is designed to identify, celebrate and support high-impact startups contributing to digital transformation, regional integration and sustainable value-chain development across West Africa.

The programme is being convened by the ECOWAS Commission’s Directorate of Private Sector and Industry, hosted in Abuja and jointly implemented by the Pan African Alliance of Small and Medium Industries (PAOSMI) and the Investment Promotion Agencies of West African States (IPAWAS).

The initiative follows the inaugural edition held in Niamey, Niger, on November 18 and 19, 2021.

The 2026 edition is expected to bring together 60 startups from ECOWAS member states and will feature masterclasses, startup clinics, pitch competitions, exhibitions, investor deal rooms, policy dialogues and post-award acceleration.

Prizes to be won

The top three winners will share the cash prize of $65,000, with the winner going home with the sum of $30,000, first runner-up to get $20,000, and second runner-up receives $15,000.

Besides, there will be cash rewards, and regional exposure across the ECOWAS bloc, investor introductions, networking opportunities with founders and policymakers, mentorship and a six-month acceleration programme, for selected startups

Eligible sectors

Here are the six sectors eligible for the awards, the EdTech, Fintech, Health Tech, Agri Tech, Clean Tech, and TravelTech.

EdTech startups will focus on education technology and skills development, FinTech, on businesses developing technology-driven financial products and services, and HealthTech startups using technology to improve healthcare delivery and related services.

While AgriTech businesses work in agricultural technology and food systems, CleanTech on clean technology, climate solutions and green innovation, and TravelTech on tourism, hospitality and travel technology.

Requirements

Applicants must meet six eligibility requirements to participate in the competition.

They must be a citizen of an ECOWAS member state, operate a startup that is registered and based within an ECOWAS country.

Besides, applicants must have been operating for at least two years, has a working product or service, and demonstrate market traction or scalability, and must submit all required documentation.

Applicants are expected to prepare the following documents and materials before beginning the application:

A completed application form covering Sections A-J.

A national passport or ECOWAS-approved identity document for the lead founder, in PDF or image format and not exceeding 10MB.

A recent colour passport photograph of not more than 5MB.

Business registration certificate issued in an ECOWAS member state, where applicable.

In addition, have two years of financial statements, management accounts or projections. A business plan of no more than 10 pages, single-spaced and written in Times New Roman, size 12. A pitch deck of no more than 10 slides.

A one-minute pitch video in MP4, MOV or WebM format, with a maximum file size of 100MB.

Eligible startup founders across ECOWAS member states can apply through the official ECOWAS Startup Awards application portal.

Applicants are advised to have all required documents ready before starting the process.

The Federal Government has called on wealthy Nigerians, philanthropists, business leaders and corporate organisations to invest in the establishment of fire stations across the country, saying firefighting and emergency response should be regarded as a collective responsibility.

Adeyemi Olumode, Controller-General of the Federal Fire Service (FFS), made the call on Friday in Abuja at a One-Day National Stakeholders’ Summit on Fire Safety, held under the theme, ‘Building a Resilient Fire Service for the 21st Century.’

Olumode said the country needed a greater number of strategically located fire stations to bring emergency response closer to communities, reduce response time and minimise the loss of lives and property during fire outbreaks.

According to him, government alone cannot provide all the infrastructure required to effectively respond to fire emergencies across Nigeria, making private-sector and community investment critical to strengthening the national fire safety architecture.

He cited the Offa Descendant Association Fire Station, Oyo Town Fire Station, Idanre Fire Station, Bonny Island Fire Station and Kugbo Fire Station as examples of successful interventions by individuals, communities and organisations.

The Controller-General said such initiatives should not be viewed merely as acts of philanthropy, but as direct investments in the protection of lives, businesses, communities and property.

‘We need a multiplicity of strategically located fire stations to bring emergency response closer to our people and reduce response time,’ he said.

Olumode also disclosed that the summit coincided with the first anniversary of his assumption of office as Controller-General of the Federal Fire Service on August 14, 2025.

He said the anniversary provided an opportunity for the Service to take stock of its activities and achievements over the past year, stressing that the date of the summit was not deliberately chosen to mark his anniversary.

Among the achievements recorded during the period, he listed the rehabilitation of 40 firefighting appliances, the provision of two modern firefighting appliances and the supply of more than 2,000 pieces of personal protective equipment for firefighters.

He added that more than 700 cadet officers had undergone basic firefighting training and had subsequently been deployed to various commands across the country.

The FFS boss said the Service had also expanded its specialised operational capabilities through counter-terrorism training conducted in collaboration with the Office of the National Security Adviser and the Armed Forces.

He further disclosed that the National Fire Academy was undergoing upgrades, expressing confidence that the institution would become the best firefighter training academy in Africa when reopened.

The summit also featured the induction of 37 Public Relations Officers (PROs) drawn from the 36 states and the Federal Capital Territory into the Nigerian Institute of Public Relations (NIPR).

Olumode described the exercise as historic, noting that it was the first time officers responsible for public communication across the Service’s state commands had been brought together under a coordinated and structured professional training and certification programme.

He said the initiative was designed to improve the way the Federal Fire Service communicates with the public, particularly during emergencies when timely and accurate information could save lives.

‘This is much more than issuing certificates. We are professionalising the way the Federal Fire Service communicates with Nigerians,’ he said.

The Controller-General said the newly inducted PROs would be expected to develop expertise in strategic and crisis communication, media relations, stakeholder engagement, public education and reputation management.

They would also have to understand the growing challenges posed by misinformation and inaccurate reports during emergencies.

Olumode stressed that fire incidents should not be regarded solely as operational emergencies, arguing that effective communication was equally important to emergency management.

He said public trust remained fundamental to the ability of the Fire Service to protect lives and property, particularly when members of the public needed to respond quickly to instructions from emergency personnel.

The Controller-General commended the Tertiary Education Trust Fund (TETFund) for its collaboration with the Federal Fire Service on fire safety in tertiary institutions.

He also praised the Tony Elumelu Foundation for partnering with the Service on fire safety preparedness training for 7,740 Nigerians, with a target of extending the programme to 10 people in every local government area.

According to him, expanding fire safety awareness and preparedness beyond government institutions to communities, businesses and households was essential to reducing the impact of fire incidents.

Olumode also appreciated the Nigerian Institute of Public Relations and Rightangle PR for supporting the Service’s efforts to strengthen its professional communication capacity.

He extended his appreciation to government institutions, private-sector organisations and members of the media for their continued support of the Fire Service.

The Controller-General also urged Nigerians to play an active role in facilitating emergency response whenever fire incidents occur.

He appealed to motorists and other road users to give fire appliances a clear path, warning that traffic congestion and obstruction could significantly delay firefighters from reaching affected locations.

He also urged members of the public to avoid unnecessary crowds at fire scenes and to refrain from spreading unverified information that could complicate emergency operations.

Olumode called for greater public cooperation with emergency responders, stressing that reducing fire-related deaths and destruction required the combined efforts of government agencies, businesses, communities and individuals.

He said the Federal Fire Service would continue to strengthen its operational capacity, professionalise its personnel and deepen partnerships with stakeholders as part of efforts to build a more responsive and resilient fire safety system for the country.

ipNX Nigeria has joined key stakeholders in Nigeria’s telecommunications sector to call for stronger collaboration, improved infrastructure standards and greater protection of fibre networks as the country seeks to accelerate broadband connectivity.

The call was made at the Association of Telecommunications Companies of Nigeria (ATCON) Critical Conversation Forum on Fibre-to-the-Home (FTTH), held at the Radisson Blu Hotel in Lagos.

The forum, themed ‘Fibre to the Home in Nigeria: Addressing Challenges, Strengthening Standards and Ensuring Sustainable Deployment,’ brought together telecommunications operators, regulators, government agencies, infrastructure providers, industry associations and media representatives to examine barriers to fibre deployment and explore ways to support Nigeria’s broadband ambitions.

Delivering the keynote address virtually, Aminu Maida, the executive vice chairman of the Nigerian Communications Commission (NCC), described FTTH as a critical component of Nigeria’s digital future.

According to Maida, rising data demand makes reliable fibre infrastructure important to businesses, the digital economy and citizens.

‘FTTH is uniquely positioned to meet Nigerians’ next phase of data demand. The quality of our broadband will increasingly shape the competitiveness of our businesses, the growth of our digital industry and the opportunities available to our citizens,’ he said.

He also called for greater protection of telecommunications infrastructure, warning that damage to fibre networks could have significant economic consequences.

‘We must uphold deployment standards. Nigeria needs fibre that is properly installed, properly documented, and properly protected,’ Maida said.

Tony Emoekpere, ATCON President, said FTTH would play a critical role in helping Nigeria achieve broader broadband penetration, while urging communities and the public to treat telecommunications infrastructure as critical national assets.

He compared the protection of communications infrastructure with the public response to damage to electricity infrastructure, arguing that similar attention should be given to fibre networks.

‘When we see people damaging fibre cables, we should raise an alarm,’ he said.

The forum also examined infrastructure management at the state level, with Adebayo Akande, the director-general of the Oyo State Infrastructure Management and Control Agency (OYSIMCA), highlighting efforts to address fibre theft and vandalism.

Akande advocated the use of shared pole infrastructure by operators along common routes, saying the approach could reduce unnecessary duplication, minimise damage and optimise infrastructure investment.

Eghosa Urhoghide, managing director of the Edo State Information and Communication Technology Agency (ICTA), called for stronger coordination between telecom operators, regulators, government institutions, road maintenance agencies and host communities.

Representing ipNX on a panel focused on ‘Policy, Governance and Regulatory Alignment,’ Segun Okuneye, deputy director, Strategic Business Initiatives, said sustainable fibre deployment would require more than capital investment and technological capacity.

He identified policy consistency, regulatory alignment, infrastructure protection and cooperation among stakeholders as critical to expanding fibre connectivity across Nigeria.

‘Achieving universal fibre connectivity requires more than deploying infrastructure; it requires sustained collaboration between operators, regulators, government agencies and host communities,’ Okuneye said.

He added that consistent enforcement of deployment standards and protection of critical infrastructure would help create a more predictable environment for investment while expanding access to high-speed broadband.

The discussions also highlighted persistent challenges facing fibre deployment in Nigeria, including vandalism, right-of-way difficulties, inconsistent deployment practices, duplication of infrastructure and limited public awareness of the importance of telecommunications networks.

Stakeholders agreed that addressing these challenges would require coordinated action across government, regulators, operators and communities.

The forum concluded with calls for stronger industry standards, increased infrastructure sharing, improved policy implementation and greater public awareness of the need to protect fibre networks.

For ipNX, the engagement reinforces its position on collaborative efforts to strengthen Nigeria’s broadband infrastructure and support the country’s transition towards a more connected digital economy.

Nigeria’s inflation story has changed dramatically over the past year. The country is no longer battling runaway price growth; it is confronting a more difficult challenge: convincing households that economic stability matters when the cost of living remains painfully high.

Average inflation fell to 15.51 percent in the first half of 2026, down from 23.47 percent a year earlier and well below the 32.77 percent recorded during the inflation shock of 2024. By any macroeconomic measure, that is substantial progress. For millions of Nigerians buying food, paying rent or commuting to work, the relief remains largely invisible.

The disconnect lies in a distinction that economic headlines rarely explain. Inflation measures how fast prices are rising, not how high prices already are. A lower inflation rate slows the pace of increase; it does not reverse the surge that has already reshaped household budgets.

This is why the optimism surrounding disinflation has collided with widespread public scepticism. Nigerians are not rejecting the data; they are responding to a different reality. The price of rice, transport fares, electricity bills and school fees remains far above pre-2024 levels, even if those prices are no longer rising as rapidly.

The arithmetic is simple. A basket of goods that rises from ?100 to ?130 during a period of 30 percent inflation does not return to ?100 when inflation falls to 15 percent. It rises again to almost ?150. The inflation rate has been cut in half, but the household is still paying nearly 50 percent more than before the original shock.

That is the gap between macroeconomic improvement and lived experience.

The improvement itself is genuine. After inflation climbed steadily from 16.73 percent in the first half of 2022 to 22.20 percent in 2023, it peaked at 32.77 percent in 2024 as petrol subsidy removal, exchange-rate reforms and higher production costs fed into consumer prices. Since then, inflation has moderated consistently, while monthly figures have become far less volatile than they were during the crisis period.

For policymakers, this marks the end of one phase of economic adjustment. The emergency of 2024 was to prevent prices from accelerating uncontrollably. The challenge now is fundamentally different: translating macroeconomic stability into stronger purchasing power.

That will require tackling the structural costs that continue to shape prices. Food inflation remains vulnerable to insecurity, poor logistics and weak agricultural productivity. Energy costs continue to burden both households and businesses. Expensive transport, unreliable infrastructure and high financing costs raise the price of producing and distributing almost everything Nigerians consume.

Monetary policy alone cannot resolve these pressures. The next phase of reform must therefore shift from stabilising prices to lowering the cost of production. Investments in transport infrastructure, reliable electricity, agricultural productivity and supply-chain efficiency will do more to improve living standards than celebrating another decline in headline inflation.

Income growth is equally important. Even a stable inflation environment offers little comfort if wages and employment fail to keep pace with the higher cost of living. Households recover purchasing power only when earnings consistently grow faster than prices.

This is also where government communication matters. Official statements that celebrate falling inflation without acknowledging the permanence of the higher price base risk widening the credibility gap between economic statistics and public experience. Nigerians are more likely to trust reform when its benefits are explained honestly rather than presented as immediate relief.

Businesses, meanwhile, stand to gain from greater price stability. More predictable costs improve planning, investment decisions and cash-flow management, while sustained disinflation could eventually create room for lower borrowing costs. But companies are still operating from a much higher cost base than before the 2024 shock, limiting how quickly those benefits can reach consumers.

The real measure of recovery must therefore go beyond a falling inflation rate. The priority now should be to strengthen incomes, reduce the cost of production, improve productivity and create an environment in which businesses can invest and expand. If these gains are sustained, lower inflation can gradually translate into stronger purchasing power, more competitive businesses and better living standards for Nigerians.

Dangote Sugar Refinery Plc has closed one of the largest capital raises in Nigerian corporate history, securing N485.9 billion after shareholders fully took up its Rights Issue, the company said in a disclosure to the Nigerian Exchange dated August 13, 2026.

The Lagos-based sugar refiner said the offer achieved a 100 percent allotment rate, capping a subscription period marked by demand that outstripped the number of shares available.

Dangote Sugar had offered 8.10 billion ordinary shares of 50 kobo each at N60 apiece to shareholders on its register as of April 20, 2026, a price that carried a 5.51 percent discount to the stock’s value on the qualification date.

The company received 14,595 valid applications covering 8.31 billion shares worth N498.57 billion, putting the subscription level at 102.6 percent, above the size of the offer. The excess, however, did not translate into extra shares for all applicants. A major shareholder pared back its request for additional stock, trimming the final allotment to match the approved offer size.

‘A total of 14,595 valid applications for 8,309,447,021 ordinary shares valued at N498,566,821,260 were received; therefore, the rights issue was 102 percent subscribed; however, following the scale-down by a shareholder, only 100 percent was allotted,’ the company said in the filing.

The scale-down cut the core shareholder’s request for additional shares by 211.53 million units, worth N12.69 billion, leaving it with 78.85 percent of the extra shares it had sought. In the end, Dangote Sugar allotted 8.10 billion shares valued at N485.88 billion – precisely matching the size of the original offer.

Breakdown of demand

The allotment data pointed to wide participation across the shareholder base. Of the total, 13,426 shareholders took up their rights in full, accounting for 6.99 billion shares worth N419.18 billion. A further 1,047 applications for partial acceptances covered 99.08 million shares valued at N5.94 billion.

Investors who chose not to exercise their rights renounced them for trading on the exchange, with 122 transactions covering 77.18 million shares worth N4.63 billion changing hands on the NGX. Separately, 8,241 shareholders applied for shares beyond their entitlement, with 935.41 million shares worth N56.12 billion ultimately allotted from renounced rights.

The Securities and Exchange Commission has approved the basis of allotment, according to the filing. Veritas Registrars Limited, the offer’s registrar, is expected to credit successful allottees’ Central Securities Clearing System accounts by August 14, 2026, with investors lacking CSCS accounts to receive shares via their Registrar Identification Number.

Refunds for excess subscription amounts arising from the oversubscription are due to be processed by the same date.

Dangote Sugar first flagged the fundraising plan in April, when it said it could raise up to N500 billion through the rights offering and would look to place any unsubscribed shares with other investors.

The company said at the time that the exercise ranked among the largest rights issues in Nigeria’s corporate history and that its share capital would be increased to accommodate the new shares.

The capital raise is part of a broader push by the company to strengthen its balance sheet and fund expansion plans, as Nigerian corporates increasingly turn to the equity market to shore up finances amid a high interest-rate environment.