Category: Business Day

Recently, the shareholders and Boards of Directors of Providus Bank and Unity Bank at a court-ordered Extraordinary General Meeting (EGM) gave their resounding approval to proceed with the business combination of the two financial institutions.

The nod to go ahead by the boards and shareholders of the two institutions signifies a moment of national significance for Nigeria’s banking industry-one that reflects resilience, foresight, and collective responsibility.

The deal, which won overwhelming shareholder approval at a court-ordered Extraordinary General Meeting, combines the strengths of both institutions.

Analysts believe that the Providus-Unity deal signals more than a merger, but a bold step to protect shareholder value, restore confidence, and reshape the future of Nigeria’s banking landscape.

The success of the merger could well determine how future business combinations are perceived-not merely as survival strategies, but as platforms for lasting value creation.

For instance, as at June 30, 2025, the enlarged bank held N5.3 trillion in total assets and N3.2 trillion in deposits, ranking 9th and 11th in the industry, respectively. It now boasts 229 branches and serves 3.6 million customers nationwide. With stronger capital adequacy, broader reach, and enhanced digital platforms, the enlarged bank positions itself as a backbone for Nigeria’s $1trillion economy ambition.

Also, the business combination between Providus Bank and Unity Bank which marks a significant milestone in Nigeria’s financial sector comes at a time when investor confidence and shareholder value have been under intense scrutiny.

The merger represents not just the unification of assets but also a strategic step towards creating a stronger, more competitive institution particularly in Nigeria’s banking environment where institutions under the regulation of the Central Bank of Nigeria (CBN) are faced with a recapitalisation hurdle with a March 31, 2026.

By prioritising transparency, safeguarding investor interests, and strengthening institutional resilience, the transaction is expected to inspire broader confidence in Nigeria’s banking system and serve as a model for how strategic partnerships can unlock value, stabilise fragile institutions, and reinforce the foundations of long-term prosperity.

Following the success of the merger, Providus Bank and Unity Bank lauded the Central Bank of Nigeria (CBN) for its foresight, determination, and commitment to building a stronger financial system.

Providus Bank believes that the New World of Fast, Smart, Personal, and Borderless banking relationship is here. We are therefore inspired by our Future Forward Banking ethos to make life (at work and leisure) more exciting for our partners with the use of cutting-edge technology that delivers best-in-class customer satisfaction.

In less than 10 years, Providus Bank has emerged as one of the fastest-growing financial institutions in the country.

Through the merger, Providus aims to transform from a niche player into a national bank, leveraging Unity Bank’s over 211-branch network spread across all 36 states and the FCT. The move aligns with Providus Bank’s broader strategy to deepen its retail presence and diversify its customer base.

Additionally, Providus Bank would significantly benefit from scale in retail banking as it would expand its footprint from a largely digital operation to a full-fledged national player.

It also brings in a strong SME lending pipeline, especially in agriculture, mining, e-commerce, hospitality, and entertainment sectors, which both banks already support.

Providus plans to integrate its technology stack into Unity Bank’s branch network, enhancing service delivery and cost efficiency. The bank believes the combined entity will unlock new value across its retail, SME, and digital channels. Also, Providus Bank was recently named one of the best workplaces in banking in 2025 by the Great Place to Work (GPTW), a global leader in workplace culture. The recognition highlights the bank’s efforts to create an environment where employees feel supported, engaged and motivated.

According to GPTW, the award was based largely on staff feedback, which has become an increasingly important measure of how organisations are adapting to shifting workforce expectations.

Reacting to the feat, Managing Director/CEO, Providus Bank, Walter Akpani, had attributed it to the quality of staff at the financial institution.

‘Our people are at the very heart of what we do. This recognition is a tribute to their hard work, creativity and dedication,’ he noted.

Also, the Group Head of Human Resources at ProvidusBank, Kingsley Ogirri, said the recognition reflected the experiences of employees themselves.

‘It is proof that the policies and programmes we have put in place are making a difference, from opportunities for growth, to wellness initiatives, to creating a space where everyone feels valued,’ he added.

The CBN, by enabling the transaction, has reinforced its vision of a sector anchored on resilience and customer confidence. The CBN regulatory support is not only shaping healthier banks, but also inspiring the confidence of businesses, investors, and everyday Nigerians that the financial system is ready to serve as a cornerstone for sustainable growth.

For Unity Bank, the deal comes as a lifeline, providing an opportunity to overcome years of structural and balance sheet challenges that had weighed heavily on its operations; while for Providus Bank, it is a chance to scale further, expand reach, and leverage synergies that will position the combined entity as a force to reckon with in Nigeria’s fast-evolving banking space.

With this development, both banks have an opportunity to chart a new course defined by innovation, efficiency, and trust, setting a standard for future industry consolidations.

The enlarged entity will have the scale to compete, the reach to serve every part of the federation, and the capacity to support businesses, households, and government at every level.

Both entities merger is a move that signals stability, renews optimism, and sends a reassuring message to stakeholders that value preservation remains a top priority.

With enhanced technology platforms, deeper capital strength, and a commitment to customer service, the enlarged bank will stand as both a guardian of stability and a catalyst for growth in Nigeria’s journey toward a trillion-dollar economy. The merger also ushers in a new chapter: a bank that is bigger in ambition, broader in reach, and stronger in capacity. It also embodies the values of innovation, empathetic relationship management, customer focus, and integrity.

Beyond the immediate financial benefits, the Providus-Unity deal represents a test of the industry’s ability to inspire confidence. By prioritising transparency, safeguarding shareholder interests, and building a culture of accountability, the new entity is expected to play a central role in deepening financial inclusion and restoring public confidence in Nigeria’s banking system.

‘This regulatory support is not only shaping healthier banks, but also inspiring the confidence of businesses, investors, and everyday Nigerians that our financial system is ready to serve as a cornerstone for sustainable growth,’ the banks noted.

The vote was also a signal to the markets, to regulators, and to the wider public that Nigeria’s banking sector remains robust and forward-looking.

Ultimately, the Providus-Unity deal represents a pivotal moment for the financial sector, not just in terms of numbers on a balance sheet but in rebuilding trust and charting a new course for sustainable growth.

Former President Goodluck Jonathan, ex-Vice President Yemi Osinbajo and former Kano State Governor Rabiu Kwankwaso are among top Nigerian leaders expected to meet for a national dialogue on electoral reforms.

The event will also feature Peter Obi, Labour Party’s 2023 Presidential candidate and Attahiru Jega, former INEC Chairman, who will join other political figures, labour leaders, and civil society members in the discourse.

Scheduled for October 1st, the dialogue is part of activities marking Nigeria’s 65th Independence Anniversary. The meeting is being convened by the National Consultative Front (NCFront), Labour and Civil Society Front (LCSF), the Nigeria Electoral Reforms Coalition (NERCO) and other partners.

Invited participants include NLC President Joe Ajaero, TUC leader Festus Osofo, ex-Education Minister Oby Ezekwesili, former Rivers Governor Rotimi Amaechi, political economist, Pat Utomi and ex-Senator, Shehu Sani.

Also expected are key government officials such as the Secretary to the Government of the Federation, the chairman of the Nigeria Governors’ Forum as well as leaders of the National Assembly Committees on electoral reforms.

According to organisers, the session will push for constitutional changes and policy reforms to ensure credible polls in 2027.

Achu Ochu retired from the public service at the age of 65. However, he could not invest nor manage his income well, which resulted in his children being left without hope and future.

The once promising youngsters were forced out of school into streets because at 65, their father had no plans them.

Ochu’s predicament depicts Nigeria’s situation, and the fate of youngsters across the federation.

As Nigeria marks 65 years of independence, a silent crisis deepens across its cities and rural communities as about 20 million children roam the streets, denied access to education, opportunity, and a future, according to UNICEF report.

Jessica Osuere, chief executive officer at RubiesHub Educational Services, described Nigeria’s education narratives at 65 as one of lost chances. ‘After independence, there was hope for growth, but poor planning, poor funding, corruption, and insecurity slowed things down. Sadly, today, we have one of the highest numbers of out-of-school children in the world.

‘It’s a pointer that education has not been given the attention it deserves. Our children learn under the most inhumane circumstances,’ she emphasised.

Osuere said Nigeria’s progress has been uneven, and the system has failed to keep up with the needs of the people.

However, she warned that no nation rises above the level of its education system.

‘The premium put on education determines the rate of growth or level of development of any country,’ she said.

Isaiah Ogundele, an administrator, emphasised that Nigeria has a long way to go because the governments are not helping issues.

Ogundele said that Nigerian governments must give priority to education via budget allocation, and ensure the funds are judiciously utilised.

‘Nigeria’s education is still below standard. I will score it 55 percent, because of the private sector, and this is appalling.

‘The value of education has been eroded because of the youth’s get-rich- quick attitude,’ he said.

Yinka Bolarinwa, a public affairs analyst, said Nigeria’s education tells a tale of promise undermined by inconsistency.

‘While the nation has recorded significant expansion in access to education since Independence, the sheer weight of unmet needs continues to overshadow these gains,’ he noted.

Bolarinwa said in reality, the sector is constrained by chronic underfunding, insecurity in large parts of the North, decaying infrastructure, poor teacher welfare, and widespread poverty that pushes children out of classrooms and into the labour force.

‘The contrast with Nigeria’s peers is striking. Countries such as Malaysia and Singapore, which gained independence around the same time, invested deliberately in human capital and have since built innovation-driven economies anchored on strong education systems. Nigeria, by contrast, is still battling foundational literacy challenges.

‘A swelling population of uneducated youth fuels unemployment, crime, and instability issues already weighing heavily on the country’s social and economic fabric.

‘In essence, Nigeria’s education gap is not merely a developmental issue but a national security concern,’ he said.

However, Friday Erhabor, director of media and strategies at Marklenez Limited, believes Nigeria has done fairlywell education-wise. ‘I will rate Nigeria 65 percent. The country has done creditably. People may argue, but the best way to know the impact of Nigeria’s education is to look at how well Nigerians that schooled in the country do when they travel out.

‘Nigerians are globally competitive, I am not talking of those schooled abroad, but those that received their full education here,’ he said. Infrastructure, teacher shortage challenges

Experts say that despite various initiatives by the governments, lack of infrastructure and quality teachers is a clog to the goals.

Gift Osikoya, a teacher, said though Nigeria has made progress, it still falls short of its potential education-wise.

‘Infrastructure in many schools is poor; classrooms, libraries, and laboratories are lacking. Quality of teaching is uneven due to inadequate teacher training and welfare.

‘Private schools are filling gaps, but they are not affordable for many families. Digital learning and technology are slowly being embraced, but internet and power challenges hinder wider adoption,’ she said.

The UBE report estimates that Nigeria has a shortfall of over 277,537 teachers across public primary and junior secondary schools.

Besides, unqualified teachers are being recruited to bridge the gap. Poor teacher quality contributes to Nigeria’s poor learning standards by undermining the curriculum, limiting students’ engagement and critical thinking skills.

However, it is not all doom and gloom as Nigeria has also achieved some education reforms.

Key achievements and developments

Nigeria has recorded some expansion in the number of its institutions of higher learning. At independence, degree-awarding institutions were very few, such as the University of Ibadan, and the University of Nigeria, Nsukka.

As of early 2025, there are about 278 universities in Nigeria besides polytechnics, and others.

Daniel Emenahor, head of higher education at the British Council, said that about two million students graduate from Nigerian secondary schools annually.

This depicts improvement in education enrolment, and literacy compared to 1960.

However, growth in numbers has not always matched improvements in quality, equity, or completion rates. The way forward

Bolarinwa said Nigeria needs a sustained political will, consistent investment, and strict accountability.

Osikoya urged the government to prioritise education funding, monitoring, and teacher-training, and motivation.

Erhabor advocated introduction of incentives at primary schools such as school feeding.

Yakubu Dogara, former speaker of the Federal Republic of Nigeria has called on the governors of the 19 States in the Northern region of Nigeria to take lead in driving development in the region.

Dogara made this call during the 2025 Northern Nigeria Investment and Industrialisation Summit held in Abuja on Tuesday.

He emphasised that the State governors must be committed to addressing insecurity in their states and region at large, adding that all plans and strategies will fail in the midst of insecurity.

Dogara also stressed the effective management of public funds available to State government. Also speaking at the event, Bukola Saraki, former Senate President reiterated the need for the State governors to come together to share resources to drive one common objective in the region.

He said there was need for incentives to attract investments into the region, adding governors must begin to think outside the box.

‘Is there any special incentive I get for going to set up in those states in the north as opposed to setting up in Lagos? Zero. So why do we think an investor would take that risk, that investment and go and set up? That’s why I’m saying that we have to have an holistic approach to this.

‘By the end of the day, even if you put a super governor in those states today, you will not see those investments. But to do that, as I said, we must have a plan based on what is our objective. If we say, by this year, we want a cement production, then we begin to look at what are those things that we need to do. What’s the role of the governor? What’s the role of national government? What is the role of the businessman? And then bring them together.’

He also noted the prevalence of insecurity in the region, which he said is also a hindrance to attracting investments, except there are incentives.

How blood donation keeps sickle cell warriors alive and how the Noella Foundation is leading the fight

Sickle cell disease is one of Nigeria’s most urgent yet overlooked health challenges. Each year, about 150,000 babies are born with the condition, the highest number in the world. Too many do not live to see their fifth birthday. For those who survive, life is a constant battle of painful crises, medical emergencies, and repeated hospital stays.

For these patients, often called warriors for their resilience, blood is not optional. It is survival. And for the Noella Foundation, ensuring warriors have access to safe blood is central to our mission.

Understanding Sickle Cell: The Silent Crisis

Sickle cell disease is a genetic disorder that reshapes red blood cells. Instead of being round and flexible, they become hard, sticky, and sickle-shaped. These cells block blood flow, die faster, and deprive the body of oxygen. The result is severe pain, infections, strokes, organ damage, and sometimes death.

Warriors live with the unpredictability of crises that can strike at any moment, in classrooms, workplaces, or at home. Every episode carries the risk of being fatal. Among the most dangerous complications is severe anemia, when the body cannot produce enough healthy red blood cells to survive.

This is where blood transfusions make the difference. They replace damaged cells, ease pain, prevent strokes, and often pull a warrior back from the edge. For many, transfusions are not a temporary treatment. They are a lifeline that keeps them alive and functioning. Behind each warrior’s survival is often the unseen gift of someone’s donation.

Donate Blood, Save a Warrior

Statistics reveal the scale of the problem, but they only take on meaning when tied to human experience.

Chinedu, a 12-year-old from Enugu, loves drawing superheroes. Yet, he spends more time in hospitals than at school. During one crisis, his blood levels dropped so dangerously low that doctors said he would not survive without a transfusion. A single pint of blood saved him. That donation meant he could return home, pick up his pencils, and continue chasing his dream of becoming an engineer (before the next hospital appointment, and hopefully there’s blood).

Not all stories end with hope. Bisi, a 23-year-old graduate in Ibadan, collapsed during a job interview. Doctors searched desperately for blood, but the bank was empty. By the time her family found a donor, it was too late. Her life was cut short not only by sickle cell but also by the shortage of blood.

These two stories underline the thin line between life and death that warriors walk every day. One pint of blood can save up to three lives because it can be separated into red cells, plasma, and platelets. For warriors, the red cells are most critical. When a crisis strikes, time matters. Without available stock, families waste precious hours searching while their loved one fades away. This tragedy is preventable if more Nigerians commit to regular voluntary donation.

Voluntary donors also build a safer and more reliable system. Their blood is screened in advance, reducing risks and ensuring quality. Sporadic donations during emergencies are never enough for warriors who need blood repeatedly. Unlike food or money, blood cannot be manufactured. It must come from one person to another, from you to them.

How You Can Help

The Noella Foundation is committed to tackling sickle cell disease by raising awareness, driving advocacy, and working with hospitals and communities to improve access to safe blood. But this mission cannot be achieved without you.

Here is how you can help:

Donate blood regularly: The National Blood Transfusion Service (NBTS) has centers nationwide. Teaching hospitals and some private facilities also run drives.

Know the requirements: Donors must be 18-60 years old, weigh at least 50kg, and be in good health.

Understand the process: The actual donation takes less than 15 minutes, and your body naturally replenishes the blood within weeks. Men can donate every three months, women every four.

Spread awareness: Help correct the myths. Donating blood does not make you permanently weak or shorten life. Research even shows health benefits, including reduced risk of heart disease.

Organize or support drives: Workplaces, schools, and religious groups can partner with NBTS and the Noella Foundation to bring blood closer to warriors who need it.

Support advocacy: Push for stronger policies and funding that expand blood services and reduce the stigma around sickle cell.

A Call to Action

Every day, warriors across Nigeria wake up to battles most of us will never face. But resilience alone cannot fill a blood bank. Hope lies in knowing blood will be available when they need it.

When you donate, you are giving more than a pint. You are giving Chinedu another chance to draw superheroes, a graduate like Bisi the future she deserved, a mother and father the chance to raise their children, and countless others the chance to see another sunrise.

The Noella Foundation believes no warrior should die because blood was not available. This is our mission, but it can only be achieved with your support.

The Future of Jobs report 2025 by Lagos state employment trust fund (LSETF) reveals that 65 percent of Nigerian employers cite skill gaps as a major barrier to organisational transformation.

In addition to the skills gap, half of employers report difficulty attracting talent, resistance to organisational change, and regulatory inflexibility. Limited investment capital further compounds the challenge.

As global labour trends accelerate, driven by technological disruption, demographic shifts, and the green transition, experts say that Nigeria must urgently invest in human capital to remain competitive.

Nigeria mirrors many global trends but faces unique challenges. Artificial Intelligence (AI), machine learning specialists, data analysts, and sustainability experts are the top growth roles, with net increases of 82 percent, 41 percent, and 33 percent respectively.

Digital transformation is also reshaping employer priorities. Network and cybersecurity skills are in highest demand, with 87 percent of Nigerian employers identifying them as critical, well above the global average of 70 percent. Other sought-after competencies include AI and big data proficiency, systems thinking, customer service, and global citizenship.

The World Economic Forum’s Future of Jobs report 2025 also notes that 170 million jobs are expected to be created globally over the next five years, with 92 million jobs displaced, and over a billion will evolve in form and function. These projections, based on a survey of over 1,000 large enterprises across 55 economies, signals a shift in the nature of work. Across international markets, roles such as big data specialists, fintech engineers, AI and machine learning experts, and software developers are surging in demand. The green economy positions autonomous vehicle engineers, environmental scientists, and renewable energy experts are also climbing the ranks.

Conversely, traditional roles like bank tellers, postal clerks, and administrative assistants are experiencing steep declines. Employers globally are prioritising analytical thinking, cybersecurity, and digital literacy, alongside soft skills like creativity, adaptability, and lifelong learning. Nigeria’s labour landscape: Opportunities and challenges

Based on the report, 73 percent of Nigerian employers advocate for increased government funding, while 40 percent stress the need for improved transport infrastructure to support workforce mobility.

Organisations must also play their part by embedding upskilling into corporate culture and strengthening change management strategies. Without such commitment, Nigeria risks falling behind in the global race for talent.

The report notes that public-sector investment in reskilling is vital. Stakeholders across government, industry, and education must collaborate to ensure Nigerian talent is future-ready. While the CV may still hold relevance, the future belongs to those who can adapt, learn, and lead in a world defined by change.

The skills gap is not merely statistics, but a barrier to growth, innovation, and inclusion.As technological disruption, climate imperatives, and economic uncertainty reshape the global labour market, Nigeria must act decisively.

It is that time of the year where we mark yet another Independence Day. It is both a blessing and a burden to be alive and to live through another chapter in our national story. We gather in ceremony and celebration, with flags, parades and speeches across states and, of course, in Abuja. But beyond the festivity, it is truly a day we need to ask ourselves, what kind of independence have we truly gained?

Please, do not misconstrue this to be an attempt to diminish our sovereignty, but a necessary question for a people who must look honestly at their journey. At independence, our aspirations were simple and noble: that Nigerians would govern themselves, manage their own resources, and build institutions that served the people. Self-rule was supposed to mean more than flag-waving; it was meant to deliver education, health, security, food, justice and opportunity. But if we judge our progress by these standards, can we honestly say that independence has translated into meaningful freedom for the average Nigerian?

Indeed, we declared ourselves free from British colonial rule in 1960, and ever since, we have governed ourselves. Yet freedom in name is hollow if it is not matched by freedom in substance, freedom from poverty, from disease, from insecurity, from ignorance. Self-governance without progress is a cruel joke.

Take the Nigerian economy, for instance; one of the clearest measures of progress is per capita income, which divides national output by population. Over the last decade, Nigeria has witnessed a shocking reversal. According to a recent media report, between 2014 and now, average per capita income has fallen from about US$3,223 to roughly US$877, a decline of nearly 73 percent. This collapse means that even as nominal GDP may grow, the average Nigerian is getting poorer. The World Bank places Nigeria at 146th out of 191 countries in GDP per capita, while the IMF has ranked us among the 12 poorest nations in the world by the same measure.

Behind these numbers is human suffering. More than 40 percent of Nigerians live below the national poverty line, representing over 82 million people, while multidimensional poverty, which combines deprivation in education, health, and living standards, affects over 63 percent of the population. Oxfam estimates that more than 112 million Nigerians live in poverty. This is staggering for a country that is Africa’s largest oil producer and one of the continent’s biggest economies. Independence, in this sense, has not translated into liberation from want.

Inequality further distorts the picture. The richest Nigerians have grown obscenely wealthy while millions remain trapped in destitution. The Gini coefficient stands at about 0.35, but beneath that statistic lies a brutal reality: the top 10 percent of Nigerians earn 42 percent of national income, while the top one percent alone earn thirty-seven times more than the bottom half combined. Studies suggest that inequality, more than unemployment or inflation, has driven the rise of poverty in Nigeria. Independence was meant to end exploitation, yet our own structures have entrenched it.

Education and health are equally grim indicators. Nigeria today has the highest number of out-of-school children in the world, with more than 10 million children of school-going age excluded. Those who are in school often face poor learning outcomes, with many unable to read or do basic arithmetic at the end of primary education. The World Bank estimates that a child born in Nigeria today will be only 36 percent as productive as they could be with access to quality education and health, the seventh lowest figure globally.

In healthcare, the statistics are just as damning. Public health spending remains only about four percent of GDP. Life expectancy is among the lowest in the world, and preventable diseases continue to claim thousands of lives. Outbreaks like diphtheria, which recently caused more than 1,200 deaths, expose systemic vulnerabilities. Millions of Nigerians are pushed into deeper poverty each year because they must pay catastrophic medical bills out-of-pocket. These are not markers of a nation that has truly freed itself.

Food security is another test of sovereignty, and here again we fail. Despite vast arable land and a favourable climate, nearly 31 million Nigerians are experiencing acute food insecurity this year, according to the United Nations. Agriculture contributes about 23 percent of our GDP, but productivity per hectare is low, post-harvest losses are enormous, and insecurity continues to drive farmers off their land. Inflation, currency instability, and poor infrastructure compound the crisis. In a land where the soil could feed the continent, hunger has become widespread.

And then there is insecurity. No measure of freedom is meaningful if citizens live in fear of violence. From insurgency in the northeast to banditry in the northwest, herder-farmer clashes in the middle belt, kidnappings in the south, and robberies everywhere in between, insecurity is a national plague. Millions have been displaced, livelihoods destroyed, and communities left at the mercy of armed groups. This is not the freedom our founding fathers envisioned.

Governance and corruption remain the greatest betrayals of independence. At independence, the promise was leadership with integrity. But for decades, our leaders have squandered resources and mortgaged the future. Oil revenues that should have transformed our infrastructure, schools, and hospitals have too often been stolen or mismanaged. Institutions meant to safeguard accountability are weak, and political office has too often become a vehicle for private enrichment rather than public service. We claim the privilege of making our own decisions, but too often those decisions benefit the few at the expense of the many.

Taken together, these failures reveal a sobering truth: we are independent in name, but in substance we remain shackled. No colonial governor rules us today, but poverty, ill health, hunger, violence, and corruption bind millions in chains as real as those of the past. The tragedy of our independence is that while the Union Jack no longer flies over our soil, too many Nigerians live lives as limited and precarious as they did under foreign rule.

Yet this need not be the final word. If independence is to mean anything, we must act to redeem it. That means reorienting the economy to deliver inclusive growth, investing in value-added industries rather than exporting raw materials, supporting small and medium enterprises, and stabilising our macroeconomic environment. It means deep reforms in education and health: making learning outcomes, not just enrollment, the priority; expanding universal health coverage; and investing in early childhood nutrition and care. It means strengthening social safety nets and redistributive mechanisms so that inequality does not hollow out society. Above all, it means confronting corruption and insecurity with seriousness, rebuilding trust in public institutions, and enforcing the rule of law.

Independence is not merely for leaders. Citizens, too, must demand accountability, resist the lure of ethnic and religious politics, and engage actively in civic life. Independence without responsibility is a betrayal of our own destiny. Our media, civil society, and institutions must act not as cheerleaders for power but as watchdogs for the people.

As we raise our flags and sing our anthems, let us not deceive ourselves. We cannot keep celebrating rituals while the substance of independence remains elusive. This day should be a call to conscience, not a comfort for complacency. If we want the next 65 years to be different from the last, we must build a Nigeria where independence is felt in the classroom, the hospital, the farm, the market, and the home. We must build a country where freedom is not just the absence of colonial rulers, but the presence of justice, dignity, opportunity, and prosperity for all.

So, fellow Nigerians, I ask again: what kind of independence did we truly gain? If the answer is only symbolic, then our task is to make it substantive. The flag will mean little until every Nigerian child can dream and every Nigerian adult can live with dignity. May God bless the Federal Republic of Nigeria, and may our independence one day be as real as we proclaim. Happy 65th Independence Anniversary.

Chukwuemeka Ezike is a public affairs commentator and analyst. A passionate Nigerian, he is committed to using his voice to challenge national complacency and inspire conversations that lead to accountability and progress

Nigerian Exchange Group (NGX Group) has reinforced its role as a trusted catalyst for market development by convening a high-level stakeholder dialogue on the Capital Gains Tax (CGT) provisions within the Tax Reform Act 2024, set to take effect in January 2026.

The virtual forum brought together issuers, investors, intermediaries, and regulators in a constructive exchange aimed at deepening understanding of the new tax regime while ensuring that market competitiveness remains a priority. The dialogue provided critical clarity on key provisions and created an avenue for stakeholders to share perspectives that will help shape implementation.

Speaking on the importance of resilience and investor confidence, Temi Popoola, GMD/CEO of NGX Group, noted: ‘Reforms of this scale raise important questions for issuers and investors alike. Our priority is to ensure the capital market remains attractive and forward-looking. By creating forums like this, we provide clarity, enable dialogue, and help the market adapt to fiscal changes in ways that support long-term growth.’ A key focus of the dialogue was the introduction of a 30 percent tax rate on gains from the disposal of shares-aligned with Nigeria’s corporate income tax. Participants emphasized the importance of ensuring Nigeria’s competitiveness compared with other African markets. Other issues raised included the determination of base cost, with recommendations for prospective calculation from the Act’s effective date, and the treatment of cross-listed securities, flagged as an area requiring careful guidance to avoid compliance complexity and double taxation.

Providing further clarity, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, explained that the reform is structured to protect retail investors, with a N150 million annual exemption threshold that places 99.9 percent of individual investors outside the scope of CGT. He added that while the standard rate is 30 percent, a reduced 25 percent CGT will apply when proceeds from share sales are reinvested in fixed income securities or other non-equity assets, whereas reinvestments into Nigerian companies – whether listed or unlisted – remain exempt. This, he emphasized, is designed to channel more capital into productive equity that drives growth, jobs, and long-term market sustainability.

Umaru Kwairanga, Chairman of NGX Group, highlighted the importance of NGX’s convening power: ‘At NGX Group, we believe that significant policy shifts must be clearly understood and calibrated to preserve market confidence. Our core function is to facilitate this essential engagement between policymakers and the market to ensure reforms translate into sustainable, long-term economic growth.’

Participants widely acknowledged the forum as timely and constructive, with NGX Group once again demonstrating leadership as a convener of solutions-driven dialogue. By facilitating this engagement, NGX Group has strengthened its position as an indispensable bridge between government and industry, ensuring that tax reforms are implemented in a manner that safeguards market vitality while supporting Nigeria’s broader economic goals.

As part of its ongoing commitment to fostering a safe and inclusive online environment, TikTok, in partnership with the Centre for Analytics and Behavioural Change (CABC), is convening a series of Women in Media Safety Roundtables across Sub-Saharan Africa.

The roundtables, which took place in Lagos and Abuja, aim to deepen the collective understanding of tech-facilitated gender-based violence (tFGBV) and drive collaborative action, particularly for women in the media industry. These multi-stakeholder sessions brought together journalists, digital safety experts, civil society representatives, regulators, and content creators. The goal is to support women’s voices while building safer digital communities.

‘Addressing issues such as tech-facilitated gender-based violence requires more than just policies; it demands deep listening, data-driven insights, and collaboration across sectors. Through these workshops, we’re bringing together the lived experiences of women in media with research-backed strategies to co-create safer digital environments. We are pleased to partner with TikTok in this important initiative that places community voices and local context at the centre of online safety,’ said Kim Thipe, executive director, Centre for Analytics and Behavioural Change (CABC).

As the digital landscape evolves, women and other vulnerable communities continue to face unique online threats that can limit their expression and participation. TikTok is committed to learning from those on the frontlines, including local journalists and media practitioners, to evolve its safety tools, policies, and enforcement strategies.

‘At TikTok, we believe that to truly understand our local community, we must first understand their world. We recognise the diversity of our global community and the importance of understanding what helps them feel safe so they are empowered to have their best experience. As we learn more, we do more. We value the participation of the Nigerian media industry in helping us create a safe and creative platform; not just for content creators, but for all users,’ said Duduzile Mkhize, TikTok outreach and partnerships manager, Sub-Saharan Africa.

The roundtables are not just conversations; they are opportunities to reshape digital spaces into safer, more inclusive environments. By bringing together those on the frontlines of tackling gender-based violence, including civil society organisations, community leaders, journalists, and survivors, TikTok is ensuring that interventions are rooted in lived realities. By opening this dialogue, TikTok continues to strengthen its safety efforts in Nigeria and across Sub-Saharan Africa, while also raising awareness of its existing tools and resources. Most importantly, these conversations aim to build lasting trust and partnerships that empower women and marginalised communities to speak freely, participate fully, and thrive online without fear.

‘At TikTok, safety is at the heart of everything we do. These roundtables are about listening to people with lived experiences, learning from local communities, and building solutions together. Because creating safe spaces online isn’t just about technology, it’s about humanity,’ Mkhize added.

‘We commend TikTok’s proactive engagement with professionals in the media space as well as creators, through these Safety Roundtables. Tackling tech-facilitated gender-based violence requires a united front, and we welcome TikTok’s commitment to working alongside government, civil society, and industry to build safer digital spaces. Empowering women to participate fully and safely in media is not just a digital issue; it is a democratic imperative,’ said Abiodun Essiet, senior special assistant to President Bola Ahmed Tinubu GCFR on community engagement, North Central.

The Women in Media Safety Roundtables represent a tangible step in TikTok’s broader mission to foster a safer, more inclusive environment. Through open dialogue, shared insights, and actionable solutions, TikTok is reaffirming its commitment to building a platform that uplifts and protects its diverse communities.

Justice Emmanuel Subilim of the National Industrial Court, Abuja, has restrained the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) from embarking on its planned industrial action against Dangote Petroleum Refinery and Petrochemicals FZE.

The order, delivered on Friday, followed an ex parte application filed by Dangote Refinery. The court also restrained the Nigeria National Petroleum Company (NNPC) Limited, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and the Nigerian Upstream Petroleum Regulatory Commission from cutting crude and gas supplies to the refinery.

The application was argued by Senior Advocate of Nigeria George Ibrahim, who told the court that Dangote Refinery, as a licensed producer and distributor of petroleum and petrochemical products, provides essential services to the Nigerian economy and the public.

He warned that any disruption would endanger energy security and create hardship for millions of Nigerians.

Ibrahim noted that the refinery had recently faced incidents of sabotage at its plant, raising grave safety and health concerns.

He explained that management responded with a reorganisation that led to a small number of staff being relieved of their duties, a move communicated to all workers on 25 September 2025.

He said reports later emerged alleging that the dismissals were linked to union membership, with PENGASSAN claiming more than 800 workers were affected.

Dangote Refinery denied the allegation in a press statement, stressing it was not opposed to unionisation and that over 3,000 Nigerians remain in its workforce, with only a negligible number affected by the restructuring.

The lawyer also drew the court’s attention to a letter dated September 26, 2025, in which Lamumba Ighotemu Okugbawa, PENGASSAN’s General Secretary, warned the Minister of Petroleum and Gas that the union would take action to ‘force the refinery to its knees’ unless the affected workers were reinstated.

In his ruling, Justice Subilim held that the balance of convenience favoured the refinery, as allowing the strike to proceed would irreparably harm its business and cripple the provision of essential petroleum services to the public.

He ruled that restraining the respondents was necessary to preserve industrial peace and protect energy supply pending the hearing of the substantive suit. The restraining order will last for seven days.

The judge ordered that the ruling, along with a motion on notice, be served immediately on all defendants. The case was adjourned to October 13, 2025 for hearing of the motion.