Category: Business Day

Nigeria’s Minister of Trade and Investment, Jumoke Oduwole, has reaffirmed the Federal Government’s commitment to building a more transparent and efficient trade ecosystem through digital transformation and policy coordination across ministries.

Speaking during her keynote address at the Moonshot 2025 Conference held at Eko Hotels and Suites, Lagos, Oduwole described the National Single Window initiative as one of the most consequential trade policies in Nigeria’s history, noting that it will significantly reduce bottlenecks in the movement of goods and services.

‘The National Single Window is one of the most consequential policies we are implementing. It requires coordination across government and delivers a lot of transparency and efficiency in the movement of goods and services,’ the minister said. She explained that the initiative was part of the government’s broader strategy to digitise trade processes, eliminate bureaucratic barriers, and make Nigerian businesses more competitive both locally and globally.

The minister also announced the launch of a Trade Facilitation Portal, a digital platform designed to provide real-time trade intelligence and access to vital information that will enable the seamless movement of goods and services within Nigeria and across borders.

‘The Trade Facilitation Portal is about giving our businesses the tools they need, access to information, transparency, and the intelligence to trade smarter,’ she said. ‘We are building systems that empower rather than obstruct.’

She urged Nigerian businesses to be more deliberate about their market strategies, advising them to identify sectors and regions where they can achieve meaningful growth and long-term competitiveness.

‘Businesses must be strategic and focus on markets where they can win,’ she emphasised.

‘It is not just about expansion; it’s about impact and sustainability.’

The Moonshot 2025 Conference, a gathering of innovators, investors, policymakers, and industry leaders, focused on accelerating Africa’s economic and digital transformation through bold ideas, collaboration, and technological investment.

Oduwole’s remarks were widely received as a strong signal of the government’s renewed commitment to creating a more enabling environment for trade, entrepreneurship, and innovation in Nigeria.

The Institute of Human Virology Nigeria (IHVN) has urged people living with HIV to adhere to their prescribed medications to maintain their health and combat AIDS in the country.

Patrick Dakum, IHVN’s Chief Executive Officer, who made this call in Abuja emphasised the importance of medication adherence, noting that free HIV services are available in over 380 health facilities it is supporting across the Federal Capital Territory, Nasarawa, Katsina, and Rivers State.

He informed that these services include: Free testing services; Antiretroviral therapy (ART) for adults and children; free laboratory services for HIV diagnosis and monitoring; and free Prevention of Mother-to-Child Transmission (PMTCT) services for pregnant women. He added that currently, over 238,000 individuals receive anti-retroviral treatment in IHVN-supported health facilities and at no time were life saving services disrupted.

Dakum emphasised the importance of sustainability in health programs, while affirming the Institute’s goal is to test 95% of people living with HIV, initiate treatment for 95% of those who test positive; and achieve viral suppression through adherence to treatment. On expanding HIV services and empowering communities, IHVN’s CEO highlighted the institute’s efforts to prevent mother-to-child transmission of HIV by extending services to communities through partnerships with faith-based organisations and community leaders.

He stated that community programs have enabled caregivers and the vulnerable including children, adolescents and young adults to be reached with a comprehensive package of care and community-based intervention to improve adherence, nutrition and quality of life.

He noted that the Nigerian government is making progress in owning and supporting HIV programs, marked by inclusion of people living with HIV in health insurance, local production of HIV test kits, and the soon-to-be introduced HIV preventive injectable Lenacapavir.

He, therefore, urged the need for continued collaboration among government, people living with HIV, civil society organisations, and the media to sustain progress in elevating country ownership and addressing public health challenges. ‘By working together, stakeholders can achieve a healthier future and control the HIV epidemic,’ he said.

Tyson Fury is reportedly plotting a return to the boxing ring, with his sights set firmly on a third showdown against Oleksandr Usyk, rather than a long-awaited British blockbuster with Anthony Joshua.

Fury, who announced his fifth retirement in January, last fought in 2024 when he suffered back-to-back points defeats to Usyk, marking the first and only losses of his professional career.

Despite the setbacks, the 37-year-old appears eager to reignite his rivalry with the Ukrainian champion.

Promoter Frank Warren confirmed that Fury’s comeback discussions are underway and that his priority remains a fight with Usyk, not Anthony Joshua. ‘He’s indicated to me and to others that he wants to continue. Tyson’s focused on Usyk, and that’s where our attention is,’ Warren told reporters. Fury initially stepped away from boxing at the start of 2023 but has now expressed interest in returning in 2026. Warren clarified that the Gypsy King’s return will not hinge on Joshua’s schedule, despite persistent calls for an all-British clash.

While talk of Fury vs. Joshua continues to dominate fan debates, Warren revealed that Fury could take a ‘tune-up fight’ before targeting a world title shot.

Joshua’s promoter, Eddie Hearn, has also hinted at the need for Joshua to rebuild before any potential meeting with Fury becomes realistic.

Meanwhile, Usyk, who currently holds the WBO, WBA, and IBF titles, must soon decide whether to face his mandatory challenger or wait for Fury’s return.

The Ukrainian could be ordered to meet the winner of the October 25 bout between Joseph Parker and Fabio Wardley, which will determine his next mandatory opponent.

Jordan Pickford has signed a new four-year contract with Everton, the Premier League club announced on Thursday.

The 31-year-old England goalkeeper, who joined the Toffees from Sunderland in 2017, has made 326 appearances for the club. His previous deal was due to expire at the end of the 2026/27 season.

‘I’m delighted to get it done, it’s an extra two years, so four years in total,’ Pickford told evertontv. ‘I’m over the moon, and it gives me the opportunity to build a legacy for myself here, move forward, and help take this club to where we want to be.

‘Everton is a really special club to me. Coming from Sunderland as a young lad and growing into a man here, it’s been a special time for me and my family.’

The International Society of Diplomats (ISD) has appointed, Sandra Njoku-Samuel, a Nigerian as Head of Media, Communications, and Public Diplomacy for its Directorate of Tourism Africa, to drive strategic communication, tourism diplomacy, and cultural cooperation initiatives across the continent and beyond.

Reacting to the development, Hannatu Musawa, Minister of Art, Culture, Tourism and Creative Economy, expressed pride and satisfaction at the recognition of one of her ministry’s staff on the international stage.

She described the appointment as a reflection of the competence, creativity, and professionalism of Nigerian talents driving the nation’s creative economy and soft power diplomacy.

‘Sandra’s appointment underscores the calibre of young professionals shaping Nigeria’s cultural diplomacy. It also affirms our ministry’s vision of empowering creative minds to project Nigeria’s image globally,’ the Minister said, reaffirming her commitment to nurturing future leaders in the sector.

In her response, Sandra Njoku-Samuel expressed deep gratitude to Minister Musawa for her mentorship, guidance, and confidence in her capacity to serve. She described the Minister as ‘a vessel of divine guidance’ whose leadership continues to inspire innovation and excellence within Nigeria’s creative and tourism ecosystem.

‘This appointment is not just a personal milestone; it is a call to responsibility. I am committed to advancing the Honourable Minister’s vision of repositioning Nigeria’s creative and tourism sectors globally,’ she stated.

Njoku-Samuel also extended appreciation to Faiz Imam, Chief Principal Adviser to the Honourable Minister, describing him as ‘a genius guide whose wisdom and mentorship continue to elevate her path.’ She further acknowledged Phil Roberts, Director of Tourism Africa, and the ISD Executive Council for the confidence reposed in her. In addition, she paid tribute to ISD’s distinguished National Patrons in Nigeria, including Olusegun Obasanjo, former President of Nigeria; Yahaya Abubakar, Etsu Nupe; and Oba Saka Adelola Matemilola, Olowu of Owu Kingdom, describing them as ’embodiments of ISD’s vision and dignity.’

The International Society of Diplomats is a globally recognised organisation promoting diplomacy through cultural exchange, tourism, trade, investment, peacebuilding, and international cooperation. Since its Nigerian launch in December 2024, ISD has collaborated with governments, diplomatic communities, and institutions to strengthen alignment with the United Nations Sustainable Development Goals (SDGs) and advance dialogue and development across tourism, culture, education, and environmental sectors.

Sandra pledged to use her new platform to advance tourism diplomacy and amplify Africa’s creative economy on the global stage.

‘This is more than a position, it’s a mission to project Africa’s rich cultural heritage, tourism potential, and creative excellence with authenticity and global resonance,’ she affirmed.

Joash Amupitan (SAN), President Bola Tinubu’s nominee for the position of chairman of the Independent National Electoral Commission (INEC), has denied ever being part of the 2023 Presidential Election Petition Tribunal.

Amupitan made the clarification on Thursday during his screening before the Senate for confirmation.

Responding to a question from Senator Seriake Dickson, who asked if he had served on Tinubu’s legal team during the 2023 presidential election, Amupitan said, ‘I never and did not appear at any time whatsoever at the Presidential Election Tribunal.’

His response comes amid some media (Not Business Day) claims that he was a lead counsel to President Tinubu and the All Progressives Congress (APC) during the tribunal proceedings.

One of the posts, dated October 10, 2025, alleged that, ‘The newly appointed INEC Chairman, Prof. Amupitan, previously served as lead counsel to the APC and President Bola Tinubu during the 2023 Presidential Election Petition Tribunal.

‘It’s evident that Tinubu has appointed a close ally to head the commission, a move that could potentially compromise the neutrality and credibility of Nigeria’s electoral process in 2027.’

Tinubu had on Tuesday transmitted Amupitan’s name to the Senate for confirmation, following the completion of the tenure of Prof. Mahmood Yakubu, who served two terms as INEC Chairman.

Last week, the President formally presented Amupitan as his preferred choice to lead the electoral commission. His nomination was subsequently approved by the Council of State, which unanimously endorsed him as the next INEC Chairman.

During the council meeting, Tinubu noted that Amupitan, a native of Kogi State in the North Central region, is the first person from the state to be nominated for the position.

In a statement by Bayo Onanuga, the presidential spokesman, the President described Amupitan as ‘apolitical’ and a person of integrity. Members of the Council, including former Heads of State, reportedly gave their unanimous backing to his nomination. Governor Usman Ododo of Kogi State also commended the choice, describing Amupitan as ‘a man of integrity.’

58-year-old Amupitan, is a Professor of Law and Deputy Vice-Chancellor (Administration) at the University of Jos, Plateau State.

Washington D.C || A local currency-driven African stock exchange is being planned to unlock domestic capital across the continent, according to Benedict Oramah, outgoing president of the African Export-Import Bank (Afreximbank).

He revealed this while speaking at the unveiling of United Bank for Africa’s (UBA) White Paper titled ‘Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth’, in Washington D.C., a document described as a blueprint for driving Africa’s transformation from within.

Oramah, who commended UBA for investing in research and thought leadership, said Africa’s real challenge is not the lack of capital but the inability to effectively channel it.

‘When other commercial banks start investing in this kind of research and thinking, we will have begun to address some of the deeper problems we face,’ he said. ‘The bulk of intellectual capital on the continent sits within our banks. They have been focused mainly on money, money, money today, not realising that deep thinking will ultimately bring them much more money tomorrow.’

He emphasised that the problem of Africa’s development is fundamentally a problem of capital, not necessarily its absence. ‘There is an abundance of capital, but it is fragmented. Some believe capital is scarce, but having capital that cannot be accessed or used effectively is as good as not having it. What is crucial is being able to channel capital in forms that can actually be used,’ Oramah explained.

He said Afreximbank had taken deliberate steps to address this challenge, prioritizing scale over early efficiency in order to mobilize capital from within the continent. ‘The first priority for the bank was not necessarily efficiency, but size. We wanted to grow the bank rapidly so that it could take on large projects. Efficiency could come later,’ he stated, adding that this was made possible by private investors who shared Afreximbank’s vision of building a robust pool of capital mobilized in African currencies.

Citing China’s example, Oramah said Africa must learn from economies that financed their growth primarily in their own currencies. ‘China developed because it was able to use its own currency to finance its development. Africa, by contrast, with 42 currencies and a fragmented payment system, has no real chance unless something is done to remove this fragmentation. That is one of the reasons we developed the Pan-African Payment and Settlement System (PAPSS),’ he said. He explained that PAPSS is designed to integrate all 42 national payment systems across Africa, allowing payments for trade and investment within the continent to be made in local currencies. ‘We cannot claim to want goods and services to move freely across African borders while our capital is stopped at those same borders,’ Oramah noted.

Highlighting the next stage of this initiative, Oramah disclosed that Afreximbank is working with the African Stock Exchange Association on a project known as the ‘linkage project,’ which will connect African stock exchanges through the PAPSS platform. ‘We have selected five stock exchanges to pilot it. Using the system, someone in Nigeria can buy shares on the stock exchange in Egypt using the naira, while an Egyptian can buy shares in Nairobi using the Egyptian pound,’ he said.

According to him, this innovation will tackle one of Africa’s biggest hurdles to mobilizing domestic capital liquidity. ‘It gives our stock exchanges the liquidity that will attract investors to participate actively, whether by having their companies issue shares or by buying and selling on the exchanges,’ he said. Beyond that, he added, the system would make it possible to list bonds in African currencies, encouraging cross-border investments within the continent’s financial markets.

Oramah noted that over time, this could lead to a convergence of monetary policies across African countries, fostering deeper economic integration. ‘Because we are already seeing results in the physical economy, this system can become an engine for mobilizing the capital we need to build our infrastructure,’ he said, citing a recent transaction in which Afreximbank issued a letter of credit for an Egyptian contractor executing a project in Ghana, denominated in Egyptian pounds. He added that such arrangements could reduce Africa’s dependence on foreign currency borrowing and, by extension, its sovereign debt burden. ‘The biggest source of sovereign debt on the continent is that we finance our infrastructure in foreign currencies. But if an Egyptian contractor is building a project in Ghana and is paid in Ghanaian cedi while the Egyptian side receives Egyptian pounds, that borrowing in foreign currency would not need to happen. Over time, this will reduce Africa’s sovereign debt burden,’ he explained.

Oramah stressed the need for Africa to develop its own financial architecture tailored to its needs, rather than relying on global systems that do not serve its interests. ‘There is no point in continuing to depend on the global financial architecture because it was not designed for us. What will truly work for us is African financial architecture, and I hope this conference and this research initiative will form the foundation for that new thinking,’ he said.

The Economic Community of West African States (ECOWAS) has intensified efforts to close the gender gap in political leadership across the subregion, with a fresh push to achieve at least 30 percent female representation in national parliaments and decision-making bodies.

Through the ECOWAS Female Parliamentarian Association (ECOFEPA), women lawmakers have launched a mentorship initiative to groom over 200 emerging young women leaders from West Africa and the Sahel, aimed at building their confidence, political skills, and readiness to participate in governance.

Themed ‘Strengthening Women’s Role in Political Parties and Parliaments in West Africa and the Sahel,’ the session, held at the ECOWAS Parliament in Abuja, marked a major step in advancing gender equality and nurturing the next generation of women in governance across member states.

Veronica Sisay, President of the ECOWAS Female Parliamentary Association (ECOFEPA) and Chair of the Female Caucus in the ECOWAS Parliament, emphasised the importance of mentoring young women in political leadership as a deliberate strategy to sustain women’s growing influence in the region’s decision-making institutions.

‘We want to catch them young. After we have left, they will take our steps. Politics is not a dirty game as many think, it is a platform to know your country, understand the issues facing women, and be part of shaping solutions’, Sisay said.

She noted that despite the long history of male dominance in West African politics, women are gradually breaking barriers within ECOWAS institutions.

For the first time in the 50-year history of the regional body and 25 years of its parliament, women now constitute 25 percent of ECOWAS parliamentary representation, up from a mere 2 to 5 percent in previous years.

According to her, ECOFEPA continues to advocate for 30 percent female representation across ECOWAS member states in line with international and regional commitments such as the Convention on the Elimination of All Forms of Discrimination Against Women (CEDAW), the Beijing Declaration and Platform for Action, and the African Union Protocol on the Rights of Women in Africa.

‘We are not just asking for seats; we are asking for recognition of women as partners in development. Women are the best securities the world has ever known, we build peace, we nurture life, and we drive change’, she stated.

Sisay also recalled ECOFEPA’s historic campaign for the election of Memunatu Ibrahim of Togo as the first female Speaker of the ECOWAS Parliament, achieved in May 2024 after decades of male leadership.

‘We lobbied, we campaigned, and we made history. Today, we have our first woman Speaker, and it shows what advocacy and unity among women can achieve,’ she said.

Beyond parliament, the Sierra Leonean lawmaker disclosed that ECOFEPA is now pushing for the appointment of the first female President of the ECOWAS Commission, appealing to regional leaders to make it happen during the tenure of Sierra Leone’s President, Julius Maada Bio, who currently chairs the ECOWAS Authority of Heads of State and Government.

‘Let history record that under his chairmanship, ECOWAS took a groundbreaking step by appointing its first female Commission President,’ Sisay declared.

She further charged young women to aspire beyond political appointments, reminding them that their leadership should inspire others.

‘It is not enough for women to enter parliament; they must open the doors wider for others. History remembers the bold, not the conformists’, she stated.

Expanding on the mentorship framework, Miatta Garmai Warwolor, Regional President of the ECOWAS Network of Young Women Leaders, said the session was part of a structured mentorship program to connect experienced female legislators with emerging political voices across the region. ‘We are here for a simulation session where young women leaders from across West Africa and the Sahel can exchange knowledge with the ECOWAS Female Parliamentarian Association.

‘The objective is to empower emerging women leaders with skills and confidence to transition into political leadership’, Warwolor explained.

She said over 200 participants were drawn from all 15 ECOWAS countries through national networks, political parties, and parliamentary nominations, adding that the program would not end with the Abuja meeting.

‘We are establishing bilateral mentorship activities between women parliamentarians and emerging young women leaders. This is not a one-time event, it will be a continuous process, with plans to make it an annual conference,’ she said.

KoKo Tomia Aude, President of the West African Network of Young Women Leaders from Côte d’Ivoire, said the mentorship initiative gives young women a voice in shaping policy and governance.

‘This is a great joy for us because it allows us to assert our rights and push for recognition of women in all decision-making spaces.

‘The time is now, young women must rise, lead, and be empowered to change attitudes and norms’, she said. Similarly, Awehi Hope Gabriel, Regional Vice President of the West Africa Youth Assembly and President of Project Nigeria, praised the initiative for reshaping young women’s perceptions of politics.

‘This program has helped me think ahead and strategise as a young woman in politics. Politics is not just about winning elections, it’s about making an impact and inspiring others to lead’, Gabriel said.

ECOFEPA’s mentorship program builds on ECOWAS’s objectives of strengthening representative democracy and advancing gender equality across the subregion.

Under Article 18C of the Act of the ECOWAS Parliament (A/SA.1/12/16), member states are encouraged to ensure that at least 30 percent of their parliamentary delegations are women.

Sisay reminded the participants that achieving gender equality requires persistence, advocacy, and solidarity:

‘Women are powerful instruments for development. We are not fighting for 30 percent just for the numbers; we are fighting because women can do it, and often, do it better’, Sisay declared.

Kalabash54, the fintech subsidiary of Wakanow Group, is strengthening its foothold in Nigeria’s travel finance sector through expanded partnerships with major local and international airlines. This is described as a move aimed at easing financial burdens for air travellers across the country.

The fintech firm, renowned for its flagship Pay Small Small (PSS) product, is driving innovation at the intersection of travel and finance by offering installment-based payment plans that allow customers to book flights and pay over time. This, the company says, is its answer to bridging the affordability gap for millions of Nigerians who travel for business, family obligations, education, and leisure.

In a statement on Wednesday, Kalabash54 announced the inclusion of Arik Air and Aero Contractors into its growing network of airline partners, a development that further extends its domestic reach. The company already partners with ValueJet, Air Peace, notably on its Lagos-London route and United Nigeria Airlines, providing customers with wider flight options and more financial flexibility during peak seasons.

In his comment, the Chief Executive Officer (CEO) of Kalabash54, ‘Ladi Ojuri, said the partnerships are part of a broader mission to democratise access to air travel. ‘At Kalabash54, we believe travel should not be a privilege limited by financial timing,’ Ojuri said. ‘Our partnerships with Arik Air and Aero Contractors are designed to remove financial barriers, offering travellers the freedom to book their flights in advance and pay flexibly, without missing out on the best deals or essential trips.’

The company revealed that these moves will further bolster its international plans. According to the Head of Marketing at Kalabash54, ‘Lola Marcus emphasised the company’s commitment to simplifying travel experiences for Nigerians.

‘By partnering with both established and emerging airlines, we are creating more opportunities for travelers to explore the world without the financial strain. Kalabash54 is not just offering a product, we are enabling a lifestyle of freedom, planning, and possibility,’ Marcus said.

Kalabash54’s growth is said to be timely, coming as airfare prices continue to fluctuate and demand for air travel across Africa rises. By combining fintech innovation with strategic industry partnerships, the firm is positioning itself as a major disruptor in the travel space, one focused not just on convenience but on long-term financial inclusion.

The Federal House of Representatives has urged Ministries, Departments and Agencies (MDAs) to collaborate with Akwa Ibom State and ensure the establishment and completion of Ibom Deep Seaport.

These are Federal Ministry of Marine and Blue Economy, Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), and other relevant agencies.

The directive followed a motion presented on Tuesday on the floor of the House by Unyime Idem, Member Representing Ukanafun/Oruk Anam Federal Constituency and Leader, Akwa Ibom House of Representatives Caucus and co-sponsored by nine other members of the Caucus.

Idem noted that the global economy is increasingly shaped by marine trade and the blue economy, which encompasses the sustainable use of ocean resources for economic growth, improved livelihoods, and job creationHe emphasised that ‘these resources remain largely untapped in Akwa Ibom State, leading to the loss of potential foreign direct investment (FDI) and reduced economic opportunities that could significantly improve the standard of living in the State and across the country.’

He disclosed that the Nigerian Ports Authority (NPA) projected that the Ibom Deep Seaport could attract investments worth over $5.6 billion, and decried that the project has remained stalled, thus hindering the development of intermodal transport systems, limiting Nigeria’s full participation in the blue economy, and weakening its export and logistics competitiveness. He said that when realised, the Ibom Deep Seaport would directly stimulate local economies, create thousands of direct and indirect jobs, catalyse industrial growth, strengthen maritime value chains, and facilitate the full implementation of Export Processing Zones (EPZ) blueprints.

‘Nigeria’s vast coastline and Akwa Ibom State’s strategic location on the Atlantic Ocean offer immense potential for export-driven economic expansion through the establishment of the Ibom Deep Seaport. The State produces several exportable commodities such as cocoa (a major non-oil export), palm oil, palm kernel, cassava, maize, timber, rubber, fish, and seafood.

”It is also proximate to abundant natural resources and solid minerals, including crude oil, natural gas, kaolin, and limestone, key materials for manufacturing, pharmaceuticals, petrochemicals, and construction. ‘The blue economy currently contributes about 2% to Nigeria’s GDP, and with the President’s strategic proposal to raise this to between 5% and 10%, the realisation of the Ibom Deep Seaport would be a major driver in achieving this goal.’

He expressed hope that the establishment and realisation of the Ibom Deep Seaport will lead to the expansion of haulage networks, boost export capacity, attract foreign direct investments, and contribute significantly to Nigeria’s Gross Domestic Product.

Consequently, the House mandated its Committees on National Planning and Economic Development, Ports and Harbours, Finance, and Shipping Services to pay an oversight visit to the proposed project site, and, based on their findings, make appropriate recommendations to support its realisation.