Category: Business Day

The world’s respect for China is not a product of luck, geography, or population size. With a population of approximately 1.4 billion, China shares a demographic scale similar to that of India and Africa, yet it commands far greater influence, credibility, and global respect. The reason lies in strategic discipline, national vision, cultural confidence, and long-term investment in knowledge and productivity.

China’s rise is one of history’s most remarkable transformations, from poverty and isolation to global leadership in manufacturing, innovation, and diplomacy, achieved within a remarkably short period of four decades. It offers valuable lessons for other populous regions, such as India and Africa, on how nations earn respect not by numbers but by competence, consistency, and collective purpose.

1. Vision-driven leadership and long-term thinking

China’s transformation began with visionary leadership, especially under Deng Xiaoping, who launched economic reforms in 1978. The focus was not on political expediency but on generational impact. China built its policies on a 50-100-year horizon, while most developing nations still operate on 4-year political cycles.

The world respects China because it plans beyond the scope of elections. Every major initiative, from industrial policy to digital infrastructure, follows an integrated national strategy guided by the Communist Party’s five-year plans.

While others change direction with every administration, China’s leadership has demonstrated what I call institutional patience, the discipline to build, wait, and grow steadily until global competitiveness is achieved.

2. Industrialisation and mastery of manufacturing

China understood early that nations that do not produce will remain dependent. Hence, it made manufacturing the foundation of its national pride. Today, China is the ‘factory of the world’, producing over 28 percent of global manufactured goods, from electronics and steel to solar panels and pharmaceuticals.

This manufacturing dominance was not accidental; it was engineered through:

Industrial parks and export zones,

Massive investment in energy and logistics, and

Incentives for technology transfer from foreign investors.

Africa, with similar human and natural resources, continues to export raw materials and import finished goods. The difference is not in potential but in policy consistency and productive discipline.

China earns respect because it produces what the world consumes. Power, in the modern world, belongs to the producer, not the consumer.

3. Education, research, and technological sovereignty

China realised that intellectual capital is the new currency of power. It invested heavily in education, science, and research. Today:

China produces more STEM graduates annually than the United States and the European Union combined.

It has become a leader in AI, 5G technology, quantum computing, renewable energy, and electric vehicles.

It is home to innovation giants such as Huawei, Tencent, Alibaba, and BYD, whose influence rivals that of Silicon Valley.

The world respects China because it learns relentlessly. It adapted foreign technologies, improved them, and now exports its innovations globally.

Africa, by contrast, has the youth and intellect but lacks the structural ecosystem to convert knowledge into innovation. The lesson is clear: respect from nations is earned through mastery of science and technology.

4. Discipline, work ethic, and collective identity

Perhaps China’s greatest strength lies in the collective discipline of its people. National identity outweighs individual ambition. Citizens are willing to work long hours, save diligently, and comply with systems that advance national interests.

This ethos of discipline, cultivated through Confucian values of duty, respect, and harmony, underpins every aspect of Chinese life. The world sees a nation united not by race or religion but by commitment to progress.

By contrast, Africa and India still grapple with internal fragmentation – ethnic, religious, and political divides that often undermine unity of purpose. China’s model teaches that national development requires collective sacrifice and shared identity, not just rhetoric.

5. Infrastructure and urban transformation

China’s infrastructure revolution is another source of admiration.

It built over 40,000 km of high-speed rail, more than the rest of the world combined.

Its cities, Shanghai, Shenzhen, Beijing, and Guangzhou, are now global models of modern planning and innovative urban systems.

Through the Belt and Road Initiative, China is extending its infrastructure influence across Asia, Africa, and Europe.

In contrast, many developing nations struggle to maintain basic infrastructure, such as roads and power grids. The world respects China because it builds before it boasts, proving that authentic leadership is shown in results, not declarations.

6. Economic diplomacy and global soft power

China’s respect also stems from its strategic diplomacy. It invests in relationships through trade, development finance, and technology partnerships rather than coercion. Through the Belt and Road Initiative, Asian Infrastructure Investment Bank (AIIB), and Confucius Institutes, China promotes both infrastructure and culture as instruments of influence.

Today, Chinese engineers build roads in Africa, its companies dominate global supply chains, and its yuan (RMB) is increasingly used for international trade. In effect, China earns respect not through aggression but through relevance; it has become indispensable in the global economic equation.

7. Lessons for India and Africa: Numbers are not enough

India and Africa also have over a billion people each. Yet their global respect remains limited compared to China’s. Why? Because the population alone does not command respect, productivity, discipline, and vision.

Africa’s youthful population is an advantage only if it is educated, skilled, and purposefully engaged. India’s innovation potential is massive, but without inclusive growth, the benefits remain uneven.

If Africa and India want the world’s respect, they must:

1. Industrialise rapidly – adding value to what they produce.

2. Educate strategically-prioritising STEM, vocational skills, and digital literacy.

3. Govern effectively-building institutions, not personalities.

4. Collaborate regionally-because fragmented nations cannot compete with continental powers.

5. Nurture national values-discipline, ethics, and integrity must underpin all progress.

Conclusion: Respect Is Earned by Results

The world respects China because it demonstrates what leadership, discipline, and purpose can achieve within one generation. From poverty to global power, its rise is a living case study of national transformation through strategy and sacrifice.

Africa and India share similar population strength and natural potential. But potential without productivity remains dormant. China has shown the world that respect is not demanded, it is earned through results, competence, and contribution.

In the next 50 years, the nations that will command global respect will not be those with the loudest voices or largest populations, but those that master production, innovation, and disciplined governance.

For Africa, the time to rise is now – not by copying China, but by adapting its principles: long-term vision, strong institutions, value creation, and a united sense of national destiny.

Nigeria’s biggest companies are riding on stronger macroeconomic fundamentals, including easing inflation and firmer naira to deliver bumper earnings in the first six months of 2025, an analysis of 80 percent of listed firms by BusinessDay has shown.

Combined after-tax profits of the listed companies in the consumer goods, financial services, cement makers, palm oil makers, oil and gas, telecommunications, and the power sectors jumped by 70.5 percent in the first six months of 2025 compared with the previous year, when reform policies almost muted their earnings.

With the Nigerian economy showing stability as naira pressure eases, business activities rise, and the Nigerian GDP reaches 4.23 percent in the second quarter of the year, the country’s biggest companies leveraged a combination of factors, including strong unit volume growth, pricing, and favourable base effects, to post bumper results in the first six months of 2025.

Analysis of the half-year performance of the country’s biggest companies show that their profits hit N4.51 trillion, up from the N2.64 trillion reported in the corresponding period of 2024.

A breakdown of the listed companies’ financial results for the first half of 2025 reveals how individual sectors/companies performed.

Oil and gas

Listed oil and gas firms on the Nigerian Exchange Limited (NGX) reported growth in profit and revenue on the back of the hike in the price of petrol following the rise in global crude prices.

The NGX-30 oil and gas companies that have released their half-year results for the period ended June 30, 2025, include Oando Plc, Aradel Holdings, and Seplat Energy. Reported profit for the period jumped to N251 billion in H1’25, up from N234 billion reported in H1’24. The companies also grew their revenue to N4.24 trillion in the review period

Financial Services

Nine companies surveyed under the NGX-30 firms fall under the financial services sector with the combined profits reaching N2.37 trillion, down from N2.80 trillion.

According to half-year earnings reports released on the NGX, Guaranty Trust Holding Company (GTCO) had a notable after-tax profit decline of N449 billion in H1 2025 compared to N905 billion in the same period of 2024. Zenith Bank followed with N532 billion, slightly below the N577 billion reported a year earlier.

United Bank for Africa (UBA) recorded a modest uptick in profit, rising from N316 billion in H1 2024 to N335 billion in 2025. Similarly, Stanbic IBTC Holdings delivered strong growth, with profit increasing from N116 billion to N173 billion, reflecting the firm’s consistent earnings momentum.

Among the tier-two lenders, Wema Bank showed one of the most impressive gains, tripling its profit from N26 billion to N87 billion, while FCMB Group also improved from N59 billion to N73 billion.

Ecobank Transnational Incorporated (ETI) maintained steady performance, with profit inching up slightly from N431 billion in H1 2024 to N434 billion in 2025. However, First Bank Holdings saw a decline, as profit dipped from N365 billion to N283 billion over the same period.

On the investment side, United Capital Plc posted a modest gain, increasing profit from N7 billion in H1 2024 to N11 billion in H1 2025, highlighting resilience in Nigeria’s investment and asset management segment.

Consumer Goods

Consumer goods companies saw their profits rebound in the first half of 2021, a sign that an economic recovery is on for Africa’s most populous nation.

Analysis of their results show that BUA Foods, Nigerian Breweries, International Breweries, and Nestlé Nigeria recorded a combined profit turnaround of N440 billion in the first half of 2025, compared with a N236 billion loss recorded in the same period last year.

Palm oil

Nigeria’s oil palm sector has witnessed its most significant growth in the first six months of 2025, supported by surging crude palm oil prices, easing inflation, and a stable naira.

These factors have boosted the profitability of the sector’s two leading listed companies on the Nigerian Stock Exchange and handed shareholders more value, even as projections see the run ‘not ending soon’.

Presco and Okomu’s combined H1 2025 profit of N136.2 billion is 15.8 percent higher than their entire 2024 full-year profit of N117.7 billion and 131 percent above the N59.1 billion posted in the first half of last year, underscoring the firms’ fundamentals and operational performance.

Cement Makers

Nigeria’s cement makers recorded their best half-year performance ever in 2025 as price adjustments, operational efficiency, and a more stable naira drove earnings to new highs.

Dangote Cement, BUA Cement, and Lafarge Africa saw their combined net income rise to N834.01 billion in the first six months of 2025. That’s more than triple the figures they earned in the same period last year.

Cement makers in Nigeria are benefiting from high demand as the government builds the 700-kilometer Lagos-Calabar coastal highway and rural roads. Real estate projects are also surging, with the sector now accounting for a third of the nation’s gross domestic product.

While the demand for cement is high, Nigerians are paying more, which has led to a profit jump of more than 200 percent in six months.

Power sector

Nigeria’s power sector recorded a combined after-tax profit of N65 billion in the first half of 2025, up from N56 billion in the corresponding period of 2024, driven by improved performances from Geregu Power Plc and Transcorp Power Plc.

Telecoms

MTN Nigeria reported a net income of N414.9 billion for H1 2025. This marks a 180 percent year-on-year growth from the N519.1 billion net loss reported in H1 2024.

In its consolidated financial statements for H1 2025, the group recorded a turnover of N2.38 trillion during the period. This represents a 54 percent YoY growth from the N1.54 trillion reported in H1 2024. This growth was observed across various revenue streams, including voice, data, and value-added services. Data revenue particularly saw a significant increase from N726.6 billion in H1 2024 to N1.23 trillion in H1 2025.

Effective 21 December 2025, Air Peace, West and Central Africa’s largest carrier, is set to launch a monthly commercial charter service between Lagos and Accra to Antigua and Barbados connecting Jamaica and Trinidad and Tobago, commencing 21 December 2025.

This new route represents a major step in Air Peace’s commitment to expanding Africa’s connectivity as the only carrier with direct flights from West and Central Regions of Africa to the Caribbean, creating new opportunities for tourism, trade, and cultural exchange between both regions.

The new route will connect Lagos and Accra to Antigua and Barbados, with onward extensions to Trinidad and Tobago and Jamaica. This initiative underscores Air Peace’s commitment to expanding its global footprint and creating new gateways for African travellers to explore the Caribbean. Building on the airline’s previous successful Caribbean operations – including its historic Lagos-Montego Bay (Jamaica) charter in 2020 and the Abuja-St. Kitts and Nevis service in 2025 – this new initiative reinforces Air Peace’s strategic vision to bridge continents and enhance interregional travel.

For tour packages, Air Peace has partnered with Tour Brokers International (Nigeria), Sun Seekers Tours (Ghana), and Adansi Travels (Ghana) to offer exclusive tour packages.

Fares for the Antigua, Barbados, Jamaica and Trinidad and Tobago monthly scheduled flights are now live, and customers can book directly via the Air Peace website – www.flyairpeace.com or any of our accredited Travel Agents.

Set discreetly in the city’s Airport Residential Area, Villa Monticello is not the kind of hotel one stumbles across. It is discovered, usually through word of mouth, and returned to often. With just sixteen individually designed suites, it has the rare ability to feel both deeply private and quietly grand. No two rooms are alike; some are dramatic, others more restrained. Each feels like stepping into a space imagined with character, not copied from a template.

What draws many guests back is not just the design, but the atmosphere. Villa Monticello carries the ease of a residence, the polish of a five-star, and the rare combination of both. For business travelers, it means mornings that begin with coffee in a garden courtyard rather than in a buffet queue. For those gathering teams or clients, it means five flexible meeting spaces that can host anything from a discreet meeting of three to a cocktail gathering for up to one hundred. And when the work is done, evenings unfold in open-air spaces strung with lights, or indoors in the plush seating area – where teal armchairs have become the favourite spot for unhurried coffees, quiet meals, and conversations that stretch.

The same flexibility extends to the table. Executive Chef Jonathan, trained in both Ghana and Italy, cooks with a style that feels personal rather than performed. One evening it might be a carefully prepared egusi, another a plate of handmade pasta finished with kontomire and a shito drizzle – a fusion only he would think to create. And sometimes, it’s just a perfectly made burger. Menus shift with the guests, often shaped by a passing comment or a quiet preference, and the result is food remembered for its flavour rather than its formality.

The Koncierge is Villa Monticello’s signature service – a layer of access designed to be as personal as it is discreet. It might begin with a VIP airport meet-and-greet, or a car waiting at precisely the right moment. For some guests it means doors opening after hours at a gallery, or a table appearing on a reservation list that never seems to have space. For others it’s more practical: quiet secretarial support when deadlines travel with you. The truth is, there is no set menu. Each request is treated as individual – a bespoke layer of attention that sits gracefully on top of what is already an exceptional stay. Spa treatments arrive in-suite, at your time, in your space. And on Thursday evenings, the courtyard comes alive. One week it’s Afrobeat rhythms, the next a modern take on highlife, with the occasional cover that lands as well as the original. It’s not a scene for the masses, but for a circle of guests who like their evenings stylish, spirited, and a little unexpected.

In a city where international chains promise uniformity, Villa Monticello offers something rarer: individuality. Above all, it is a hotel with a point of view: intimate, cultivated, and quietly luxurious. For those who already know, it is an address to keep. For those yet to discover it, it is an invitation to experience Accra differently.

Civil society groups and international experts have renewed calls for the passage of the Special Seats Bill, describing it as a crucial democratic reform to improve women’s representation in Nigeria’s legislature.

The appeal was made during a webinar convened by the Policy and Legal Advocacy Centre (PLAC) with support from the European Union (EU) and the Inter-Parliamentary Union (IPU).

The bill seeks to create temporary additional seats for women in the National and State Assemblies to address the country’s persistent gender imbalance in politics.

Clement Nwankwo, executive director of PLAC, said growing engagement with lawmakers was yielding positive results.

‘By the time we finished speaking, his question was, ‘in principle, this is not a bill anybody should object to. what would be the modalities?” he recalled of a conversation with a senator who had initially opposed the bill.

Nwankwo noted that advocacy efforts were gaining ground, supported by the EU, IPU, UK Foreign, Commonwealth and Development Office (FCDO), UN Women, and the UNDP.

Joy Ezeilo (SAN), consultant to the National Assembly on constitutional review, warned that Nigeria continues to lag behind other African nations.

‘It’s been a Herculean task trying to achieve inclusion in the Constitution that aligns with Nigeria’s international obligations,’ she said. Citing global trends, Drude Dahlerup, IPU expert and professor emerita at Stockholm University, noted that women currently hold only 3 percent of Senate and 3.9 percent of House seats in Nigeria.

‘Over half of all countries now use some form of gender quota,’ she said, adding that reserved seats remain the most effective in patriarchal societies. From the United Arab Emirates, Ali Al-Nuaimi, a member of the Federal National Council, shared how his country achieved 50 percent female representation in parliament through strong leadership and engagement with cultural and religious leaders.

Advocates acknowledged that the bill requires a two-thirds majority in both chambers and approval by 24 State Assemblies but insisted that democratic progress must not be delayed.

‘This bill is not a loss for men but a victory for democracy and inclusion,’ Nwankwo said.

Afe Babalola and Co (Emmanuel Chambers), one of Nigeria’s foremost dispute resolution and corporate law firms, has unveiled a new office in Lagos as part of its strategic expansion across key commercial hubs in the country. Located 85 Awolowo Road, Ikoyi, the new office is equipped with state-of-the-art facilities, including meeting rooms, a conference hall, digital workstations, a research library, and client-centred spaces designed to foster collaboration and efficiency.

The firm, founded in 1965 by renowned jurist and legal luminary, Aare Afe Babalola, SAN, said the Lagos office underscores its commitment to deepening access to high-quality legal services and nurturing the next generation of legal professionals.

Speaking at the official launch in Ikoyi, Mr. Tunde Babalola, SAN, Managing Partner (Lagos), said the firm’s expansion is both a response to Lagos’s growing demand for sophisticated legal expertise and an investment in developing young talent.

‘Lagos is not just Nigeria’s commercial capital; it is where business, finance, and law converge,’ Babalola said. ‘Our vision for the new office is not merely to establish a physical presence, but to create a centre of excellence where legal innovation meets practical solutions. We aim to serve not only as advocates in courtrooms, but as trusted advisers in boardrooms, arbitration halls, and every space where law drives enterprise and progress.’

With existing branches in Abuja, Port Harcourt, and Ibadan, the new Lagos office extends the firm’s reach into Nigeria’s busiest legal market where over half of the country’s corporate and commercial disputes are initiated. Also speaking at the ceremony, Honourable Justice Bode Rhodes-Vivour, JSC (Rtd), CFR, described the expansion as a reflection of the firm’s enduring legacy of excellence and a forward-looking vision for the legal profession.

‘This occasion is far more than the expansion of a law practice; it represents the continuation of a vision and a bold step in the pursuit of justice and excellence by Aare Afe Babalola, SAN,’ he said.

Notable guests included Justice Mosunmola Dipeolu, Chief Judge of Ogun State; Mrs Uchenna Akingbade, Chairman, NBA Lagos Branch; Mrs Folashade Alli (SAN), Principal Partner at Folashade Alli and Associates; and several partners and alumni of Afe Babalola and Co.

For nearly six decades, Afe Babalola and Co has been a training ground for some of Nigeria’s most accomplished lawyers, judges, and public officers. The firm said the Lagos office will serve as a hub for arbitration, corporate advisory, and digital legal research, while providing young lawyers with exposure to complex commercial work and mentorship opportunities.

The federal government’s decision to remove mathematics as a compulsory subject for students seeking admission into tertiary institutions to study arts and humanities has sparked a wave of mixed reactions across Nigeria’s education sector.

The new policy, unveiled on Tuesday, was announced in a statement signed by Boriowo Folasade, director of Press and Public Relations at the Federal Ministry of Education. According to the ministry, the reform, led by Maruf Tunji Alausa, minister of Education, is aimed at democratising access to higher education and empowering young Nigerians through inclusive and equitable learning opportunities.

Under the new National Guidelines for Entry Requirements into Nigerian Tertiary Institutions, English Language remains compulsory for all candidates, while mathematics will now only be required for those seeking admission into science, technology, and social science programmes.

The federal government explained that the policy would help expand access to tertiary education and enable the admission of an additional 250,000 to 300,000 students annually.

Alausa noted that the reform became necessary to correct what he described as ‘years of limited access’ that left many qualified candidates unable to gain admission despite their competence.

He pointed out that over two million candidates sit for the Unified Tertiary Matriculation Examination (UTME) annually but fewer than 700,000 secure admission into universities, polytechnics, and colleges.

‘This imbalance is not due to a lack of ability, but outdated and unnecessarily stringent entry requirements that must give way to fairness and opportunity,’ the minister stated.

Policy generates debate

However, the policy has generated debate among education stakeholders. While some hailed it as a long-overdue reform, others warned that it could have long-term consequences for Nigeria’s competitiveness in the digital age.

Samuel Odewumi, a transport and logistics expert at Lagos State University (LASU), cautioned against what he described as a ‘policy of convenience,’ arguing that mathematics remains fundamental to logical reasoning and digital literacy.

‘It’s better to have mathematics and not need it, than to need it later and not have it. Education reforms should not be rushed. Every decision we take today will have ripple effects in the next decade. Mathematics builds cognitive capacity, and its absence may weaken our students’ problem-solving foundation,’ Odewumi said.

He also faulted what he called ‘policy inconsistency’ in Nigeria’s education system, warning that frequent changes in admission requirements could destabilise academic planning and quality assurance.

On the other hand, Akase Ter, an educationist, described the policy as a relief for thousands of students with strong potential in the arts but were held back by mathematics. ‘It’s really a good decision because people are gifted differently. Not everyone is science-oriented. For decades, the compulsory mathematics policy denied many bright students the opportunity to further their education. This new direction gives them a second chance,’ he said.

Ter recalled that many students who struggled with mathematics either abandoned their academic dreams or switched to other interests, despite excelling in subjects like literature, Christian Religious Knowledge, and history.

On X (formerly Twitter), users also expressed opinions about the new policy.

Adeolu (@_astalavi) argued that the decision could worsen students’ disinterest in numeracy.

‘Whether we like it or not, arithmetic is a part of our day-to-day activity. Not making it mandatory now will only make the arts students that people perceive to be lazy relax even more, and affect their basic numerical knowledge,’ he said.

Adewale (@SoEdunOkanESita) strongly opposed the reform, warning that it could harm the country’s educational foundation.

‘Everyone who cares about Nigeria must prevail on Tunji Alausa to immediately reverse the poor decision to remove Mathematics for arts students. His overzealousness will destroy Nigeria. Education is the pillar that holds a country,’ he wrote.

Adewale added that the policy overlooks the realities of the job market.

‘After graduation, the labour market doesn’t care if you are an arts, sciences, or social science graduate. Everyone will write the same aptitude tests for employment, which include mathematics, logic, quantitative and verbal reasoning. How those in government think is absurd.’

Echoing similar sentiments, Olufemi Oluwole (@MinOlufemi) questioned the logic behind the change.

‘What is the positive effect of taking out Mathematics from the arts department? The contents of this subject at the secondary school level are basic. There’s no problem being solved – we are only making more lazy students,’ he said.

Donald Angbas (@orame50) also disagreed with the reform, stating that every student pursuing tertiary education should have at least a basic pass in mathematics and English.

‘C6 is just 45-50%. Every student going for tertiary education should be able to have that in English and Mathematics,’ he tweeted.

Not all reactions were negative, however. Tosin Balogun (@tosi_tosin) welcomed the development, calling it a ‘very good decision.’

The Moroccan Ambassador to Nigeria, Moha Tagma, says Morocco is a new destination for investment and a proud partner to Nigeria.

Tagma communicated this when he paid a condolence visit to Tein Jack-Rich, President of Belemaoil Group, on Wednesday in his Abuja residence.

The visit was to commiserate with Jack-Rich on the passing of his uncle, Dr Harrison Tiger.

Tagma expressed his deepest sympathies to Jack-Rich, describing him as a friend, philanthropist, and partner who deserves support and attention from good friends and allies.

Having spent the last eight years in Nigeria, Tagma highlighted the strong bond between Morocco and Nigeria, particularly in the economic sector. ‘Morocco is a new destination for investment, and we are proud to be a great partner to Nigeria.

‘All Nigerians want to do business with the Moroccans, and we look forward to continuing our fruitful collaboration,’ he said

Tagma said that Morocco had signed an agreement to form the Nigeria/Morocco Friendship Group, underscoring Nigeria’s deep interest in fostering a robust relationship with Morocco.

The condolence visit from the Moroccan envoy was one of many received by Jack-Rich from prominent Nigerians, including former Vice President Atiku Abubakar and former Governor of Kano State, Rabiu Musa Kwankwaso.

Jack-Rich expressed his happiness for the condolence visit and described Tagma as a good friend.

He emphasised on the importance of African partnership and intra-African trade for economic growth. ‘Africa must partner with itself, trade with itself to grow the African soil economically.’

Jack-Rich urged Nigerian leaders to put aside their party differences and work together for the economic growth of the nation.

‘Our leaders must work together, irrespective of party differences, to drive economic growth and development.

‘This call for collective action highlights the need for Nigerian leaders to prioritise the country’s economic development,’ he said.

The Ambassador of the Republic of Tunisia to Nigeria, Mohsen Antit, has pledged his country’s commitment to strengthening economic ties with Nigeria to boost trade and enhance revenue generation.

Antit made the commitment during the Ndigboamaka Progressive Markets Association All Markets Conference 2025, held in Lagos on Wednesday, with the theme ‘Empowering Trade Unions for Revenue Generation and Modernisation’.

He said Tunisia was ready to partner with the Nigerian government across key sectors such as agriculture, banking and finance, mining, oil and gas, aviation, and security to advance mutual prosperity.

Antit said, ‘Tunisia will be eager to open discussions to collaborate in these areas.

‘I reiterate Tunisia’s commitment to deepening ties with Nigeria and with the Ndigboamaka organisation through trade, culture, education, and people-to-people connections.’

He praised the nation’s entrepreneurial spirit and rich cultural heritage, noting that the Ndigboamaka Progressive Markets Association represents over 50 major markets and embodies the dynamism of Nigerian commerce.

Antit commended the association for empowering traders and driving business growth, adding that collaboration with Tunisia would create opportunities for capacity building and trade diversification.

The envoy also expressed interest in expanding investment partnerships in manufacturing, energy, medical services, and tourism, stating that Tunisia ranked among the world’s top 20 tourism destinations ahead of Morocco and Egypt, and just behind Spain and Greece.

In his remarks, the President of Ndigboamaka Progressive Markets Association, Chief Chinedu Ukatu, said the conference symbolised the collective strength and resilience of traders across Nigeria.

Ukatu acknowledged the rapid changes in the global economy and emphasised the need for modernisation and digital transformation to promote ease of doing business.

He urged members of the association to remain united and determined in pursuing their goals, adding that solidarity among traders was key to sustaining growth and protecting their collective interests.

Ukatu further called on the government to engage traders in policy formulation to create a more conducive business environment and ensure equitable distribution of economic benefits.

Also speaking, the former Deputy Governor of Anambra State and Secretary-General of Ohanaeze Ndigbo Worldwide, Emeka Sibeudu, urged the association to work toward making South-East markets more competitive to enhance Nigeria’s overall economic growth.

Sibeudu commended Lagos-based traders and exporters for their significant contributions to both Lagos State’s economy and Nigeria’s Gross Domestic Product (GDP).

He encouraged them to extend their investments to the South-East to promote inclusive development.

The Deputy President-General of Ohanaeze Ndigbo Worldwide, Prince Okey Nwadinobi, also commended the Ndigboamaka association for uniting traders under one platform.

He advised members to be law-abiding and to respect community norms to avoid conflict and property damage.

Chief Executive Officer of Chisco Group, Chief Chidi Anyaegbu, called on the government to view traders as partners in national development, describing them as the real drivers of the Nigerian economy.

Anyaegbu urged the government to adopt dialogue in addressing issues affecting traders instead of enforcing punitive taxation policies.

Anyaegbu also advised traders to cooperate with government initiatives aimed at national progress.

He commended the association for recognising his contributions to commerce, saying the honour would inspire him to continue supporting trade growth and compliance with lawful business practices.

At the World Bank and International Monetary Fund (IMF) annual meetings holding in Washington DC, United States, Nigeria has joined other Commonwealth Nations to explore strategies aimed at strengthening economic resilience and driving sustainable development among member countries.

Temvert Empowerment Foundation, one of the United Nations’ partners on children and youths empowerment was at the World Bank/IMF Meeting in Washington DC, where it attended sessions that captured issues of economic outlook, poverty eradication, climate change, and aid effectiveness. Speaking through its founder and civil society leader, Temitayo Olatunde, at one of the sessions, Temvert Empowerment Foundation emphasised the importance of involving grassroots organisations in global decision-making and dialogue, especially on areas that align with non-governmental organisations’ objectives

‘Being here at the World Bank IMF Annual Meetings goes beyond participation; it is about advocating for sustainable development and judicious use of aid given to countries,’ he said.

The Temvert boss further emphasised that the World Bank and IMF need to be closer to the grassroots organisations to chart ways for social development, adding, ‘At one of the sessions, we discussed policies that can alleviate poverty, ensure food security, and boost economic resilience.’ Olatunde stated that ‘this is the mission of his organisation that has impacted thousands of Nigerians through scholarship schemes, distribution of school materials, youth empowerment, among others. ‘

He noted that his organisation participated at the 80th United Nations General Assembly in New York and also hosted a side event at the 2025 ECOSOC Youths Forum.

Muhammed Manga, Director of Information and Public Affairs of the Ministry of Finance on the sidelines of the meeting, event had reportedly said the meeting brought together finance ministers from Commonwealth nations to discuss ways to deepen cooperation and unlock new opportunities for shared prosperity. Doris Uzoka-Anite, Minister of State Finance, who represented Nigeria at the meeting holding from Monday to Saturday, called for increased funding to support the bloc’s development agenda, particularly programmes aimed at lifting millions of people out of poverty and enhancing infrastructure across member states.

‘The Commonwealth remains a critical platform for collaboration among nations with shared history and values,’ Uzoka-Anite noted.