Category: Business Day

The Nigerian Independent System Operator (NISO) has announced a drop in power generation from over 4,300MW recorded in the early hours of Sunday, 28 September 2025, to about 3,200MW at the lowest point.

The operator stated that industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) within the gas supply chain triggered widespread gas shortages, leading to a generation shortfall on the national grid.

‘The Nigerian Independent System Operator (NISO) wishes to notify the public of recent major generation shortfalls on the national grid, caused by industrial actions of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) within the gas supply chain.

‘These disruptions triggered widespread gas shortages, reducing available generation from over 4,300MW in the early hours of Sunday, 28 September 2025, to about 3,200MW at the lowest point.

‘In response, the NISO promptly deployed contingency measures to preserve the stability, security, and reliability of the national grid. Key interventions include hydropower optimisation, generation dispatch and load balancing, and voltage and frequency support,’ NISO said in a statement issued to journalists.

The operator added that it applied selective load shedding as a last resort to avert a system-wide collapse and ensure fair power distribution.

These timely actions, it said, enabled the NISO National Control Centre (NCC) to minimise the impact of the labour-induced gas shortages, sustain operational security, and maintain supply to critical loads, thereby averting a nationwide blackout.

‘The system operator reaffirms its commitment to proactive grid management, operational excellence, and the application of best-in-class practices to guarantee a secure and reliable electricity supply for the nation,’ it added.

PENGASSAN commenced its strike action on Monday despite calls for calm from the federal government.

Nigeria is rewriting its governance story through the steady leadership of three women whose work is moving the country from promise to proof. In parliament, Hon. Kafilat Ogbara is turning representation into results. She treats consultation as a discipline, keeps citizens in the room, and converts their priorities into credible parliamentary asks. Her hearings are purposeful, her follow-up is visible, and her message is clear: legitimacy grows when people are heard and policy is grounded in evidence. In an era of flood risks, cost-of-living pressures, and rapid urbanisation, that kind of citizen-centred law-making helps lower tensions, align MDAs around shared outcomes, and accelerate delivery where it matters.

On the nation’s highest bench, Hon. Justice Uwani Musa Abba-Aji, JSC anchors confidence in the rule of law. Predictable jurisprudence is not a luxury, it is the bedrock of investment, innovation, and social protection. Her careful reasoning signals that rights are real, contracts have consequences, and the vulnerable are not invisible. In a time of digital disruption, climate shocks, and intense political competition, her work shows how an independent, development-minded judiciary safeguards both liberty and growth. Justice becomes infrastructure, and infrastructure invites enterprise.

Within the executive, Fatima Ango offers a masterclass in execution. Recently elevated to Deputy Director at the Central Bank of Nigeria, she has championed learning systems, competency frameworks, and monitoring and evaluation that link training to performance and policy to service quality. Capability is her strategy. By hard-wiring standards, skills, and feedback loops into daily work, she helps institutions move faster, learn quicker, and serve better. That is how service delivery becomes consistent, and how confidence in government compounds.

Together they form a clean arc of national renewal. Parliament gives inclusive voice. The courts provide steady verdicts. The executive delivers value at scale. This is the alignment Nigeria needs to tackle today’s biggest tests: resilience in the face of climate risks, productivity in a tightening global economy, probity in public finance, and inclusion that leaves no community behind. It is also why their leadership is newsworthy. At a moment when citizens demand performance as well as vision, these three women show that excellence is attainable, measurable, and repeatable.

Celebrate them, because they are modelling how Nigeria wins: empathy with standards, vision with systems, ambition with accountability. Their example is not just inspiring. It is a practical blueprint for good governance, nation-building, and inclusive, sustainable development that reaches every ward and every household.

Mainstream Energy Solutions Limited (MESL), in a bid to advance the Nigerian energy landscape has signed an agreement with Granville Energy (PTY) Limited to design, build, finance, and operate a 100MW floating solar power plant at the Kainji hydro power plant.

Speaking during the signing ceremony in Abuja on Tuesday, Sani Bello, Chairman, Board of Directors, Mainstream Energy Solutions, said that the project is a significant step forward in the company’s mission to transform Nigeria’s energy landscape.

He explained that when fully operational, the project would provide thousands of Nigerian homes and businesses with clean, reliable energy, supporting economic developmen while minimizing environmental impact. ‘We are proud to partner with Granville Energy (PTY) Limited, to design, build, finance, and operate a 100MW floating solar power plant at the Kainji hydro power plant. This pioneer project, embodies our unwavering commitment to increasing power generation in Nigeria while promoting sustainable and environmentally friendly solutions.

‘As an organisation. we have consistently demonstrated our commitment to renewable energy, aligning this with our mission statement and the focus areas of our Corporate Social Responsibility interventions. This MOU signing is a testament of our resolve to drive positive change and contribute to Nigeria’s economic growth. ‘This aligns perfectly with our core objective: powering Nigeria’s economic growth in an environmentally responsible manner,’ he said.

Abba Aliyu, Managing Director, Renewable Electrification Agency (REA) noted that Nigeria currently has a highest number of people without electricity, with most of these people located in the rural and urban areas of the country.

For him, the most economically viable means of providing them this electricity is through distributed renewable energy, through the deployment of renewable sources.

‘For us to have an opportunity where 100 megawatts of renewable energy can be injected into the grid, for us this is a huge and significant increase in the renewable mix of the country. I will say that apart from the Azura that was 450 megawatts that was added as a Greenfield, and Zungeru, which mainstream is very much active in managing that, there is not any significant renewable capacity that is added into the grid.

‘Initially Rural Electrification Agency currently is working on injecting about 188.4 megawatts through interconnected mini-grids, one of which we intend to be the first that will do the floating solar in the University of Lagos, where we will put the panels by the side of the lagoon to power the University of Lagos.

‘But definitely, the commitment of mainstream and the partners Granville Energy, is something that the federal government will always have pleasure and will always key into it’, he added.

Access Bank has launch of its Womenpreneur Pitch-a-Ton 2025 programme, empowering female entrepreneurs across Africa with essential skills, knowledge, and resources to drive business growth and self-sufficiency.

Applications for the program commenced on Friday, September 19, 2025, and will close on Friday, October 3, 2025.

In a statement, Nene Kunle-Ogunlusi, Group head, Women Banking, said the Womenpreneur Pitch-a-ton has empowered hundreds of women with business training, mentorship, and access to funding since its launch in 2019. ‘This year, the program is back and better, offering women entrepreneurs the opportunity to scale their businesses, gain visibility, and connect with like-minded trailblazers across the continent. The 2025 edition promises a rich and rewarding experience for women in business. Selected participants will undergo an intensive Mini-MBA program designed in partnership with the International Finance Corporation (IFC), equipping them with the knowledge and tools required to grow sustainable businesses. In addition, participants stand a chance to access significant financial support, with over N17.5 million to be awarded in grants to the most outstanding businesses. The program also ensures that the impact goes beyond the winners, as other finalists will enjoy consolation benefits and other business support services to help strengthen their brands and operations’ she said.

Reiterating Nene’s comments, Oyeyipo Ifeoluwa, project manager, Womenprenuer Pitch-a-ton said ‘We have trained 878 women and awarded grants of up to $175,000.00 since the launch of Womenprenuer pitch-a-ton since 2019. The programme is not just about competition; it is a holistic journey designed to transform women-led businesses and contribute to Africa’s economic development.

The program is open to women entrepreneurs whose businesses are registered, have been existing for more than one year and own at least 50 percent shareholding in their business’ Oyeyipo concluded.

Oliver Alawuba, group managing director/Chief Executive Officer, UBA Plc has disclosed that the bank is out of any form of forbearance loans.

Forbearance is a temporary arrangement, typically with a lender, to lower or suspend loan payments for a set period due to financial hardship, allowing the borrower to resume payments once his financial situation improves.

The CBN in June directed banks to temporarily suspend the payment of dividends to shareholders, defer the payment of bonuses to directors and senior management staff. The apex bank also asked banks to refrain from making investments in foreign subsidiaries or embarking on new offshore ventures.

‘There is no forbearance loan in UBA books. CBN has already approved the payment of dividend which will be paid in next couple of days,’ the CEO said on Tuesday during the bank’s investor conference call. UBA said that some of the write-off for forbearance were taken off before H1’25 and finally erased in H1, which made it have less impact on its profitability. The CBN justifies the measures as necessary to strengthen capital buffers, enhance balance sheet resilience, and ensure prudent internal capital retention during this transitional period. The apex bank noted that suspension will remain in effect until banks fully exit regulatory forbearance and demonstrate compliance with capital adequacy and provisioning standards through independent verification.

Alawuba, who led the bank’s excos in responding to questions from participants at the conference further said, ‘It is important to note that UBA tries to ensure that we remain competitive on the total dividend yield for the year.’

The bank CEO noted that the CBN has also approved its dividend payment for the half year (H1). The Africa’s global bank recently released its financial performance for the half-year (H1) ended June 30, 2025, posting a N335 billion in profit after tax (PAT). The audited financials released to the Nigerian Exchange Limited (NGX) showed a remarkable growth across its major business segments, driven by strong earnings.

The bank recorded significant growth in its gross earnings and profit after tax, signalling robust balance sheet expansion.

Speaking on the capital raising and its deployment, he said, ‘the second round of the right issue was very attractive,’ adding that they bank is waiting for regulatory approval for the capital raise.

The bank had raised N234billion in its first capital raise. It just concluded the second capital raise -rights issue of N154billion, which it hopeful of raising as it awaits regulatory approvals.

He’s optimistic that the price of the shares of UBA will reroute north after the rights issue. The bank used the opportunity to disclose its revised growth guidance which include: deposit (20 percent), and loan (10 percent). Alawuba also noted that UBA committed to building Africa’s global bank.

At the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria and major countries in Africa where the bank operates, UBA’s gross earnings grew by 17.28 percent, rising from N1.371 trillion in June 2024 to N1.608 trillion in the period under review.

Interest income also increased by 32.89 percent from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71 percent to N33.3 trillion up from N30.3 trillion recorded in December 2024. Total Customer deposits also leapt by 11.9 percent in the same period to close at N27.6 trillion up from N24.6 trillion recorded at the end of 2024.

The results also showed that profit after tax which stood at N316.36 billion in June 2024, rose by 6.06 percent to close the half year at N335.53 billion, while profit before tax dropped slightly from N401 billion to N388 billion in the period under consideration. However, the banks’ shareholders’ funds remained strong as it increased by 23 percent from N3.41 trillion in December 2024, to N4.22 trillion in June 2025.

The Reddington Multi-Specialists Hospital, Lagos, brought vital healthcare services directly to the heart of the Oniru Community through a free medical outreach held at the Oniru Palace.

The initiative, a collaboration with His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, the Oniru of Iruland, provided free consultations, health screenings, nutrition counseling, pharmacy services, and referrals to over 500 residents.

A 53-member medical team from Reddington Hospital, comprising doctors, nurses, nutritionists, pharmacists, laboratory scientists, dentists, physiotherapists, and ophthalmologists, anchored the event. The team’s comprehensive approach ensured that men, women, and children received quality care, addressing a wide range of health concerns, from high blood pressure to dental and eye care. Dr, Abiodun Osibamowo, the medical director of The Reddington Multi-Specialists Hospital, at the event,

harped on the importance of regular medical screening and counselling as key to sustainable health and general wellness.

‘You don’t wait until you start seeing symptoms of diseases before you come to the hospital. By that time, it may be too late and the doctors would be constrained in saving the patient’, Osibamowo told the crowd that had gathered at the Palace for the health screening.

He said the management of Reddington Hospital was partnering with the Oniru-in-council for the free medical services because of the excellent leadership Oba Abdulwasiu Lawal has provided for the residence of Iru Kingdom since he ascended the throne five years ago.

‘When the Kaabiyesi visited The Reddington Hospital earlier this year as part of the activities marking his fifth anniversary on the throne, he sought for our collaboration in providing quality and affordable health care for the people of his community. This medical outreach marks the beginning of such partnership,’ Osibamowo said. His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, commended the management of The Reddington Hospital for sending a very strong team of multi-specialists to the free medical outreach, nothing that it afforded most of his subjects who would otherwise have been unable to afford such services to get quality health counselling and care at zero cost.

‘I am very passionate about the health and wellbeing of my people that is why the Oniru-in-council is partnering with a very reputable hospital like The Reddington Hospital to provide free medical services to them and ensure we have a healthy community able to work and earn a living’, Lawal said.

The questions and answers session anchored by the Osimabowo was very enlightening and educative as he answered questions on broad range of health issues, causes and prevention, such as high blood pressure, obesity, stroke, cancer, ulcer, etc. He talked about the importance of eating right, regular exercise and regular health screening and counselling.

No fewer than 500 residents comprising men, women and children benefitted from the free medical outreach. Some of the beneficiaries expressed their feelings.

‘I am happy about this programme and I pray to God to keep our Oba because visiting the hospital these days is very expensive. I also learnt a lot from the Medical Director during the questions and answers session especially the causes of high blood pressure and stroke and how to prevent it’, said Mrs Ige Salako. For Abdullatif Ogunbambi Abisogun, the free medical outreach should be more regular ‘because we need to be checking our health status from time to time. Prevention is better than medication’.

The Reddington Multi-specialists Hospital, Lagos has been at the fore of cutting-edge medical technology backed by very experienced consultants providing world class affordable services thereby reducing medical tourism and capital flight out of Nigeria.

President Bola Tinubu has condemned the murder of Somtochukwu Maduagwu, a news anchor with Arise News Television, directing security operatives to fish out her killers.

Bayo Onanuga, presidential Spokesman, said Maduagwu was killed during an attack by robbers at her residence in Katampe, Abuja.

President Tinubu extended his condolences to the family of Maduagwu, the management and staff of Arise News Television, and the entire Nigerian media fraternity over the loss. According to the President : ‘ Ms Maduagwu was a promising professional journalist whose life was cut short in a cruel and condemnable manner.

‘ Security and law enforcement agencies should conduct a quick and thorough investigation into the incident and ensure that the perpetrators are apprehended and brought to justice without delay,’ he said.

The President, while also commiserating with the bereaved family, assured Nigerians that his administration remains committed to ensuring the safety and security of all citizens, and will continue to strengthen measures aimed at combating crime in all its forms.

Nigerian Deposit Money Banks are parking record amounts of excess cash at the Central Bank of Nigeria (CBN) deposit window while lending to the economy continues to stutter, even after the recent cut in interest rates.

Data from the CBN shows that banks’ Standing Deposit Facility (SDF) rose to an all-time high of N5.38 trillion on Monday, driven by excess liquidity from Federation Account Allocation Committee (FAAC) disbursements and Open Market Operation (OMO) repayments.

The SDF is a monetary policy tool that allows banks and other deposit-taking institutions to lodge their excess liquidity with the CBN overnight and earn interest – without needing to provide collateral.

The amount deposited by banks surged by 52.6 percent, rising from N3.5 trillion as of September 24, 2025, to N5.38 trillion on Monday, September 29, 2025.

Banks shun lending

On the borrowing side, through the Standing Lending Facility (SLF), commercial banks have shunned the CBN’s lending window for the past nine business days. Borrowing from the apex bank’s window dropped to a one-month low of N22 million on September 16, 2025, the last time such levels were recorded being August 8, 2025, when banks borrowed N25 million.

Over the same period, the CBN carried out OMO repayments worth N459.8 billion in one month, including N254.9 billion on September 23, 2025, and N204.9 billion on September 16, 2025.

The banking system opening balance stood at N338.9 billion as of Monday, September 29, 2025, reflecting a 22.86 percent increase from N275.88 billion at the beginning of the month. Meanwhile, the CBN has not conducted any OMO auction since September 4, 2025, after selling N620.7 billion in an auction on September 3, 2025.

Analysts’ view

Adebowale Funmi, head of Research at Parthian Securities, explained that banks are drawn to the SDF because it remains more attractive than investing in treasury bills. She noted that with the current MPR at 27 percent and an asymmetric corridor of -250/+250 basis points, the SDF rate stands at 24.5 percent. By comparison, the discounted yield on a 364-day treasury bill is about 16.78 percent, with effective yields slightly below 20 percent – making the SDF a more appealing option for banks.

Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE), said the surge in bank deposits with the CBN reflects the absence of sufficient credit opportunities to absorb the available resources.

‘Even though the rate has come down, the opportunities are not there. If the risk environment is high, banks will prefer to keep their money with the CBN,’ he said.

Yusuf stressed that the elevated risk perception, particularly among small and medium enterprises (SMEs), discourages banks from lending and suggested that the CBN may need to implement further rate cuts to stimulate credit creation.

At its 302nd meeting last week, the Monetary Policy Committee (MPC) unanimously voted to reduce the Monetary Policy Rate (MPR) by 50 basis points to 27 percent, adjust the symmetric corridor to +250/-250 basis points around the MPR, set the Cash Reserve Ratio (CRR) at 45 percent for commercial banks and 16 percent for merchant banks, and introduce a 75 percent CRR on non-Treasury Single Account (TSA) public sector deposits, while maintaining the Liquidity Ratio (LR) at 30 percent. The move marked the first policy rate cut in five years.

Ayodeji Ebo, managing director/chief business officer at Optimus by Afrinvest, explained that with the MPR corridor fixed at +250/-250 basis points, the SLF rate declines to 29.5 percent from 30 percent, while the SDF rate drops to 24.5 percent from 25 percent.

According to him, this adjustment means banks will now pay slightly less when borrowing short-term liquidity from the CBN and earn marginally less when depositing excess funds overnight. The effect is to keep interbank market rates aligned with the new MPR, thereby ensuring smoother monetary policy transmission.

Ebo added that the imposition of a 75 percent CRR on non-TSA public-sector deposits significantly restricts the portion of such funds banks can deploy for lending, leaving only N250 out of every N1,000 available. He explained that while this measure curtails banks’ dependence on public-sector liquidity, reduces speculative use of government deposits, and strengthens monetary control, it also tightens liquidity further, potentially slowing the pace at which the rate cut translates into actual credit expansion in the economy.

Credit position

Analysts at FBNQuest anticipate a gradual recovery in credit expansion to the real economy, supported by the narrowing of the corridor around the MPR and the reduction in commercial banks’ CRR.

Credit to the private sector declined by 2.2 percent to N76.14 trillion in June 2025, compared to N77.8 trillion as of May 2025, data from the CBN indicated.

‘The rise in deposits to the CBN is an excess liquidity issue,’ said Tilewa Adebajo, chief executive officer of The CFG Advisory. He explained that banks currently hold more funds than they can deploy under acceptable risk-return conditions. According to him, this reflects a cautious stance by banks, given the weak credit appetite arising from high lending rates and elevated risks in the economy. ‘How many people can borrow at 40 percent?’ Adebajo asked.

Sixty-five years after independence, Nigeria’s telecommunications sector reflects both the nation’s remarkable progress and its unfinished struggles.

From colonial telegraphs in the late 19th century to a digital ecosystem with more than 220 million active lines today, telecoms have become a powerful driver of economic inclusion and innovation.

Yet stubborn gaps, including vandalism, broadband shortfalls, power deficits, multiple taxation, and regulatory hurdles, amongst others, continue to dim the gains.

From telegraphs to 172m lines

Nigeria’s telecoms journey began in 1886 when Cable and Wireless established the first telegraphic link. At independence in 1960, just 18,724 fixed telephone lines served a population of 40 million. The department of Posts and Telecommunications oversaw the network, which remained limited and unreliable. Ambitious targets under the First National Development Plan (1962-1968) sought to expand coverage, but the civil war stunted progress, leaving results at less than half of projections. The 1970s and 1980s brought incremental growth, but service was still costly and inefficient.

A turning point came in 1985 with the merger of the Posts and Telecommunications Department and Nigerian External Telecommunications into Nigerian Telecommunications Limited (NITEL), a state monopoly. NITEL struggled to deliver efficient service, and by the late 1980s, reforms were overdue.

The 1988 Privatization and Commercialization Decree signaled change, but meaningful liberalisation only arrived in the 1990s. The creation of the Nigerian Communications Commission (NCC) in 1992 opened the door to competition, while the 2000 National Telecommunications Policy under president Olusegun Obasanjo dismantled NITEL’s monopoly. GSM licensing in 2001 marked the dawn of a new era.

GSM era sparks growth

Operators like MTN and Globacom transformed Nigeria’s telecoms landscape almost overnight. In 2001, fewer than half a million lines existed. Today, subscriptions is about 172 million, according to NCC latest data. Telecoms now contribute roughly 14 percent of GDP, enabling e-commerce, fintech, and social connectivity on a scale unimaginable a generation ago.

Infrastructure milestones such as Glo-1, the first submarine cable fully owned by an African operator, showcased Nigeria’s ambition to connect globally.

The Nigerian Communications Act of 2003 cemented a strong regulatory framework, ensuring competition and attracting massive private investment.

Tinubu’s Renewed Hope Agenda

Since May 2023, telecommunications has taken on greater prominence under President Bola Tinubu’s Renewed Hope Agenda. Bosun Tijani, minister of Communications, Innovation and Digital Economy, has championed a 2023-2027 Strategic Blueprint anchored on five pillars: knowledge, policy, infrastructure, innovation, and trade.

The results are already visible. More than 117,000 Nigerians have been trained under the 3 Million Technical Talent (3MTT) program, exceeding early targets. Global partnerships have been struck with MTN, Airtel, the European Union, and UNDP, while Nigeria launched a National AI Strategy to position itself as a continental leader in emerging technologies.

Investor confidence has returned, buoyed by policy moves such as scrapping the controversial five percent telecom tax and approving tariff adjustments. Foreign direct investment in ICT surged nine-fold from $22 million to $191 million in the first quarter of 2024. Operators, too, are doubling down: MTN Nigeria has pledged N1 trillion in capital expenditure for 2025 alone. ‘Stable policies and regulatory clarity are enabling us to reinvest in quality of service. It is a testament to how far the sector has come and how much more it can deliver,’ said Karl Toriola, chief executive officer of MTN Nigeria.

Broadband, power gaps, vandalism persist

Despite progress, major gaps persist. Broadband penetration stood at 48.81 percent in August 2025, far short of the 70 percent target set in the National Broadband Plan. Rural communities remain underserved, hobbled by power shortages, multiple taxation, and right-of-way bottlenecks.

The World Bank estimates that Nigeria’s infrastructure gap costs the economy $29 billion annually. Power shortages alone erode quality of service, with telecom operators spending heavily on diesel to run approximately 40,000 sites nationwide.

Gbenga Adebayo, chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), warned that systemic barriers remain. ‘Multiple taxation, vandalism and high cost of Right of Way are still major problems that need to be addressed to encourage more investments,’ he said. Ambitious projects ahead

Government officials insist solutions are in the pipeline. Later this year, the administration plans to roll out Project BRIDGE, a $2 billion, 90,000-kilometre national fibre network, alongside 7,000 new towers, 80 percent of which will serve underserved areas.

Other initiatives include e-governance platforms, Talent City innovation hubs, and expansion of the 3MTT program to train more digital workers.

‘We believe we should build and are building a resilient global system to ensure Nigeria is not just keeping pace with digital infrastructure but also strengthening it,’ Tijani said.

NCC’s policy-to-law legacy

For the NCC, Nigeria’s telecoms story has always rested on strong policy foundations. Aminu Maida, the commission’s executive vice chairman, recalled that the National Telecommunications Policy (2000) paved the way for the Nigerian Communications Act (2003), which transformed connectivity.

‘We moved from about 500,000 fixed lines to almost 80 million active lines in under a decade. Competition drove innovation and affordability; even with recent tariff adjustments, the average price per minute remains below the N50 per minute level at the dawn of GSM,’ Maida said.

Newer policies, including the National Policy on 5G, the National Broadband Plan (2020-2025) and the National Cybersecurity Policy, are shaping today’s landscape. Meanwhile, indigenous content and online child protection frameworks are in early stages of implementation.

Looking ahead, Maida said the NCC’s focus will be on expanding fibre-to-buildings, ensuring affordable high-speed connectivity, and building resilience against vandalism and infrastructure disruptions. ‘Our goal is a robust, resilient, safe, and secure internet for all citizens, businesses, and government,’ he stated.

As Nigeria reflects on its independence milestone, the telecoms sector stands as both a symbol of progress and a reminder of unfinished business. From 18,724 lines in 1960 to 172 million active subscriptions today, the sector’s trajectory underscores the transformative power of connectivity.

But broadband gaps, power shortages, and policy hurdles still hold back its full potential. Closing those gaps and ensuring equitable access may well define how completely telecoms can deliver on the promise of inclusion in Africa’s largest economy.

Business recovery and insolvency stakeholders have called for the strengthening of insolvency institutions to enhance practitioners’ effectiveness and align Nigeria’s frameworks with global best practices.

This was made known at the 2025 Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) conference in Lagos. The two-day event focused on deepening the use of insolvency tools to resolve chronic indebtedness and financial distress facing businesses.

Justice John Tsoho, Chief Judge of the Federal High Court, represented by Justice Akintayo Aluko, told participants that practitioners, regulators, and the judiciary all play critical roles in restructuring and insolvency processes, especially during periods of economic turbulence. He urged professionals to uphold integrity, independence, impartiality, and transparency while avoiding personal gain from sensitive corporate information.

‘The role of an insolvency practitioner in the life of a company under distress is significant. Insolvency does not necessarily signal the end of a business,’ Tsoho said. ‘Practitioners must carefully adopt tools such as receivership, administration, mergers and acquisitions, or bankruptcy in the best interest of both creditors and debtors.’ Chimezie Ihekweazu, BRIPAN President, said this year’s theme, ‘Deepening Insolvency Tools for Resolving Commercial and Financial Challenges of Businesses’, was timely given Nigeria’s exposure to economic headwinds, geopolitical shifts, and technological disruptions.

‘In Nigeria and across Africa, it has become imperative to sharpen and deepen the tools at our disposal for business rescue, debt restructuring, and sustainable recovery,’ he said. Justice Victoria Nwoye, also speaking at the conference, stressed that insolvency frameworks should serve as ‘economic stabilisers,’ not punitive measures. She warned that many regimes worldwide remain inaccessible to businesses that need them most, leaving both small enterprises and multinationals vulnerable during financial crises.

‘Be it small enterprises or multinational corporations, the ability to navigate distress is no longer a peripheral concern; it is central to survival and growth,’ she noted.

The conference concluded with a consensus that Nigeria must strengthen its insolvency institutions, enforce ethical codes for practitioners, and improve access to restructuring mechanisms to safeguard businesses and the wider economy.