Category: Business Day

MTN Nigeria’s FibreX broadband initiative is set to empower remote workers, gamers, and digital startups by connecting over 8 million homes with high-speed, unlimited internet by 2028.

This expansion aims to transform Nigeria’s digital landscape, providing seamless connectivity to fuel productivity, creativity, and innovation across the country.

Launched in April 2025 as a rebrand of MTN’s earlier fibre broadband service, FibreX is designed to provide ultra-fast, low-latency internet through fibre-to-the-home (FTTH) and fibre-to-the-business (FTTB) networks.

Egerton Idehen, MTN Nigeria’s chief broadband officer, emphasized the initiative’s focus on enhancing digital lifestyles during a webinar media briefing.

‘We are building a broadband experience for everyday life: for content creators, remote workers, and students alike. FibreX offers unlimited data and consistent speed, eliminating the frustration of data depletion that hinders productivity and creativity,’ Idehen said.

The initiative targets urban and semi-urban areas, catering to the growing needs of Nigeria’s digital workforce and tech-savvy youth. Remote workers, who rely on seamless connectivity for virtual meetings and cloud-based tools, will benefit from FibreX’s reliable, high-speed internet. Gamers, too, stand to gain from low-latency connections that ensure smoother online experiences, while content creators can upload and stream high-quality media without interruptions.

For Nigeria’s burgeoning startup ecosystem, FibreX is a game-changer. Micro, small, and medium enterprises (MSMEs) and digital startups, which form the backbone of the country’s growing digital economy, will gain access to robust connectivity to scale operations, reach global markets, and innovate.

‘This is about empowering people to connect and thrive in the digital economy,’ Idehen added.

MTN’s FibreX aligns with Nigeria’s National Digital Economy Policy and Strategy (NDEPS), supporting the government’s push for enhanced connectivity to drive economic growth. The telco is collaborating with infrastructure companies, state governments, and local contractors to accelerate last-mile connectivity, ensuring broadband reaches homes, offices, and communities efficiently.

However, challenges such as fibre vandalism and community resistance pose hurdles to the rollout. To address affordability, MTN is prioritizing high-demand clusters like residential estates, where collective adoption can reduce costs. ‘It is more cost-effective to connect 10 or 20 homes at once than one at a time,’ Idehen explained.

With Nigeria’s internet penetration currently at 43 percent and a target of 70 percent by 2025 under the National Broadband Plan, MTN’s FibreX is poised to play a pivotal role in closing the digital divide. By 2028, the initiative aims to transform Nigeria’s internet backbone, enabling millions to work, play, and innovate in a connected world.

The Northern region of Nigeria is back, or at least, it wants to be. Once the country’s industrial hub in the 1970s, home to thriving textile factories, groundnut pyramids, and bustling trade routes, the region is now making a bold attempt to reclaim that legacy.

Decades of neglect, insecurity, and policy drift left its economy adrift. But a new strategy known as the Mining, Agriculture, and Power (MAP) Agenda is reviving conversations about Northern industrialisation, this time backed by data, investment plans, and regional coordination.

‘The North has the minerals, the land, and the sunlight. What it needs now is will.’

Born from the recent Northern Nigeria Investment and Industrialisation Summit, the MAP vision positions the North as the next frontier of national prosperity, a zone capable of driving Nigeria’s diversification, creating millions of jobs, and retaining billions in domestic value. Yet ambition alone is not strategy. The real test lies in turning this vision into a bankable reality. From potential to plan: The logic of the MAP agenda

Few regions in Africa possess the endowments of Northern Nigeria. Beneath its soil lie vast deposits of lithium, gold, zinc, and iron ore, inputs that fuel the world’s electric vehicle and energy transition industries. Its landmass, over 70 million hectares of arable land, represents nearly 80 percent of Nigeria’s cultivable area. It also holds some of the country’s highest solar irradiance levels, capable of producing over 30 GW of renewable energy if fully harnessed.

Yet despite these natural advantages, the region contributes less than 25 percent of Nigeria’s industrial GDP. The MAP Agenda seeks to correct this imbalance by linking mining, agriculture, and power in one integrated ecosystem, where mined resources feed industrial parks, power fuels processing, and agriculture provides both export earnings and food security.

Its goal is clear: to create five million jobs, raise regional GDP by at least ?75 trillion by 2035, and turn the North into Nigeria’s industrial heartland. To do so, it proposes a Northern Industrial Development Fund (NIDF) to pool domestic and foreign investment, an interstate coordination council to prevent policy fragmentation, and a Joint Implementation and Monitoring Taskforce (JIMT) to track progress and enforce accountability.

The financing question: Turning vision into investable projects

No vision sustains itself without financing architecture. Nigeria’s past development blueprints, from Vision 2010 to 2020, faltered not from lack of ideas, but from lack of funding discipline and project bankability. The MAP strategy seeks to avoid this trap by proposing a blended finance structure that combines:

Seed capital from Northern states and sovereign entities to establish credibility.

Development finance and concessional lending through Afreximbank, AFC, and BOI for catalytic infrastructure.

Commercial investment tranches targeting private equity and diaspora capital.

Outcome-linked sovereign guarantees to derisk early investors.

But these instruments will only attract capital if there are bankable projects, not just policy statements. The first test of seriousness will be to identify three anchor projects by mid-2026.

One could be a solar-powered agro-industrial hub in Kaduna, combining irrigation, food processing, and rural electrification. Another modular lithium beneficiation plant in Nasarawa, leveraging global demand for energy minerals. The third could be a hydro-solar hybrid park in Niger State, providing 200 MW of energy to support industrial corridors across the North-Central zone.

Each project must have detailed feasibility studies, transparent procurement, and realistic return models, not just political goodwill. Investors no longer respond to patriotic appeals; they respond to credible numbers.

Governance and coordination: From conference to commitment

Perhaps the MAP Agenda’s biggest challenge lies not in funding, but in governance. Nigeria’s interstate cooperation has often collapsed under political rivalry and changing administrations. To avoid becoming another forgotten communiqué, MAP must be institutionalised through legally binding instruments, enforceable memoranda of understanding among participating states, with measurable targets and joint ownership.

The creation of the Joint Implementation and Monitoring Taskforce (JIMT) is therefore a step in the right direction. But it must go beyond bureaucratic reporting. It should publish quarterly performance dashboards, disclose fund disbursements, and engage independent auditors and civil society monitors. Only radical transparency can build the trust needed for continuity.

A Northern Data Intelligence Hub could further support evidence-based policymaking, aggregating data on investment flows, employment, and production to track outcomes, not intentions. Powering the Transformation: Energy as the Missing Link

If mining and agriculture are the engines of the MAP Agenda, then power is its fuel. Nigeria’s chronic electricity deficit, with 13,000 MW installed but less than 5,000 MW available, makes industrialisation impossible without reform. The ?4 trillion electricity sector refinancing plan recently approved by the Federal Government offers a lifeline. But for the North to truly industrialise, at least 5 GW of new capacity must be dedicated to industrial clusters by 2030.

Renewables must play a central role. Solar farms across Sokoto, Katsina, and Yobe could power agro-processing and small industries, reducing diesel dependence. Mini-grids could electrify rural mining communities and cold-chain systems. Energy must no longer be treated as an infrastructure problem; it is the foundation of productivity and inclusion.

Human capital and security: Building peace through production

Critics often argue that insecurity makes the North untenable. The counterargument is simple: economic exclusion fuels the insecurity itself. By formalising artisanal mining, training youths in new agro-industrial skills, and ensuring host communities benefit through royalties and jobs, MAP can turn extractive zones into productive peace zones.

The plan’s proposal for a Regional Skills Acceleration Programme linked to polytechnics and universities should be fast-tracked. Training 500,000 youths in mining safety, mechanised agriculture, and renewable energy maintenance by 2030 is not just a social policy; it is a security strategy.

Avoiding old mistakes: What must be done differently

Northern Nigeria has seen reform plans before, the Sokoto River Basin scheme, the Anchor Borrowers Programme, and various agricultural initiatives. Most failed because they treated development as a state charity, not an economic enterprise. MAP must learn from this.

To stay credible, three guardrails are critical:

Transparency and anti-corruption enforcement: Procurement must be digital, public, and open to scrutiny.

Private-sector discipline: States should co-invest with private partners, not dominate them.

Conflict-sensitive planning: Land, environmental, and communal grievances must be addressed before construction begins.

Only then can the North transform natural endowments into lasting prosperity.

The window of opportunity

Global capital is now shifting toward critical minerals, green energy, and food security, exactly the assets Northern Nigeria possesses. If the MAP Agenda can align these with sound governance, it could attract billions in foreign investment and reposition Nigeria as a key supplier in global value chains.

But time is short. Investors have choices. Without early wins, enthusiasm will fade. The first ?10 billion contribution to the Northern Industrial Development Fund by Q2 2026 must not be another promise; it must happen. That single act will test whether the North’s leaders mean business, literally. From promise to proof

Nigeria has reached the point where potential no longer impresses; only proof does. The MAP Agenda presents a blueprint to turn Northern Nigeria’s abundance into shared prosperity. Yet its success will depend on execution discipline, data transparency, and inclusive governance.

If implemented faithfully, the North could move from subsidy dependency to productivity and from resource extraction to industrial transformation. But if it remains trapped in PowerPoint projections and political cycles, it will join the long list of Nigerian reforms that died on the tarmac of good intentions.

Northern Nigeria has waited decades to reclaim its role as an engine of growth. The world is watching. The question now is not whether the MAP Agenda is visionary; it is whether it will finally be real.

I woke up early in the week to the tragic news of the passing of a promising Arise News anchor and producer, Somtochukwu, popularly known as Sommie. At only 29 years old, she had cut a niche for herself and was on a steady rise. Described by colleagues and friends as warm and giving positive energy, Sommie was a sight for sore eyes, on television and off-screen. She was a lawyer by training and a journalist by calling. She combined anchoring with production and reporting. It is rare to find someone in the newsroom who can do all of these and do them well.

Sommie was one of those who, like a lot of us in this male-dominated field, chose to set herself apart through a dint of hard work, resilience and personal determination; she worked her way up against gender expectations. Arise describes her as a cherished member and a vibrant voice who was warm and highly professional.

‘As the story goes, she got no immediate help, lying on that concrete floor, fighting for her life. At the site of a crisis, the robbers fled, knowing that if security operatives arrived, they would not stand a chance.’

I have sat in my quiet room to ask all the questions a veteran in the industry would ask. How? Why? What next?

The family of Somtochukwu, who was said to have waited 10 full years before she came along, feels like they have been hit by a tonne of bricks.

Nobody can feel their pain like they do. An achiever, a superstar – how do they recover? Her mother must have spoken to her through the crisis. The fear, the trepidation. Our hearts are saddened by this needless death.

What were the armed robbers thinking? What drives them? And to what end? I am truly befuddled.

We now know that in the haze of the robbery and the confusion that set in, Somtochukwu, fearing for her life as the invaders knocked hard on her door, decided that it was better to jump to safety so she would not encounter these persons who might bring her grievous bodily harm.

As she lunged forward from her balcony, she might have gauged her chances. She would have thought it was not so far off or even thought about how much time she had before they broke in and what they could have done to her. A beautiful, brilliant woman whose skin glittered like silk – what thought occupied her pretty brain before she jumped? But not used to jumping such heights, Sommie landed in a bad way and required immediate medical attention.

As the story goes, she got no immediate help, lying on that concrete floor, fighting for her life. At the site of a crisis, the robbers fled, knowing that if security operatives arrived, they would not stand a chance.

Then the police vehicles arrived a tad too late into the operation, and what I heard is that the police complained of no fuel in their car to ferry Sommie to the hospital. Merde! So, Sommie’s mum, who does not live in Abuja, sent her friend, who travelled from another part of Abuja, to take our dear Somtochukwu to the hospital. Meanwhile, the clock is ticking; Somtochukwu has a medical emergency. But the dance drama in the hospital numbed me. Police report or nothing. But she was not shot. She did not even see the armed robbers. She simply jumped out of fear and hurt herself very badly.

What is the protocol for admitting a patient who needs urgent medical attention to the hospital? So I understand gunshot wounds. What about someone who was fleeing from danger and hurt herself? If Somtochukwu had a cut as a result, would the response be the same? Just being in an armed robbery environment as a victim requires a police report before a government hospital attends to you?

I just wonder! Because the story ends tragically and Somtochukwu dies in such a tragic manner, insecurity, healthcare and the men and women in this national tragedy need to reflect. How did we get here?

At 65 years of age, citizens and institutions cannot continue to give Nigeria a bad name to hang it.

Somtochukwu paid the ultimate price. So sad. My heart goes out to her parents, Arise TV and the NBA, as well as all citizens, for this tragic loss.

As the investigation continues, our prayer is that all those involved, both the physical (armed robbers) and others whose failure to do something to save a life by omission/commission, are all brought to book.

May Somtochukwu’s gentle soul rest in peace. Amen.

Delta Government has approved the disbursement of N10 billion to settle pension liabilities arrears from past administrations in the state.

The state Commissioner for Works, (Rural Roads) and Public Information, Charles Aniagwu, who briefed press, said the approval was part of the decisions reached at the State Executive Council meeting held at Government House, Asaba on Thursday.

He said the meeting was presided over by the Deputy Governor, Sir Monday Onyeme, adding that Gov. Sheriff Oborevwori was on official engagement outside the state.

Aniagwu was flanked by his counterparts from Economic Planning, Mr. Sonny Ekedayen; Housing, Mr Godknows Angele respectively and the Chief Press Secretary to the Governor, Sir Festus Ahon.

He said the council deliberated on several life-impacting memos cutting across social investment, infrastructure, and governance reforms.

According to Aniagwu, the N10 billion disbursement is in fulfillment of governor’s promise to ease the hardship of pensioners and to defray inherited pension liabilities.

‘At today’s meeting, we approved the disbursement of.N10 billion to begin the process of defraying pension arrears.

‘A committee has been set up to ensure the funds get to deserving beneficiaries without bias or interference.’

He said the move was part of the administration’s broader commitment to improving the welfare of citizens under the M.O.R.E Agenda and making life more livable for senior citizens who had served the state diligently.

The commissioner also said that the council also reviewed timelines for key infrastructure projects, including two major flyovers in Agbor (Uromi Junction) and Ughelli (Otovwodo Junction), being handled by Julius Berger Nigeria Plc.

‘The Agbor flyover, initially scheduled for completion in 24 months, has been revised to 18 months, while the Ughelli flyover has been reduced from 24 to 14 months.

‘These adjustments are aimed at delivering the projects faster to ease movement and boost economic activities’.

He said the council also considered the Medium-Term Expenditure Framework (MTEF) which was presented by the Commissioner for Economic Planning, as part of preparations for the 2026 budget, for onward presentation to the State House of Assembly.

Aniagwu disclosed that government terminated some non-performing contracts across the state to ensure efficient project delivery and value for money.

‘Some contractors have failed to meet performance expectations, and since the government promptly mobilizes and pays for certified work, we cannot allow delays or negligence,’ he said.

According to him the affected projects include the Igbodo Junction-Ubulu-Uku to Ogwashi-Uku Road, which will be re-examined and re-awarded to a competent contractor in line with the governor’s resolve to open up communities across the 25 local government areas of the state.

He said that the council also approved for the formal presentation of the Staff of Office to His Royal Majesty, Engr. Mike Oghenovo Orugbo, Okporua I, the Ovie of Udu Kingdom, following his installation by the kingmakers of the kingdom.

He reaffirmed the administration’s commitment to people-oriented governance, transparency, and accelerated infrastructural renewal across the state.

Aniagwu said: ‘Gov. Oborevwori has made it clear that projects must deliver value to Deltans. Where contractors fail, we will not hesitate to act in the interest of our people.’

He assured that this current administration would continue to prioritize human welfare, infrastructural development, and institutional reforms aimed at sustainable growth and prosperity for the people.

On his part, the Commissioner for Economic Planning, Ekedayen, explained that the council approval of the MTEF was a necessary requirement for the preparation of the 2026 budget.

He said that relevant parameters have been considered for the MTEF, based on current realities, adding that 1.7 million barrels per day crude oil production.

He added that the official exchange rate of N1,500 to a Dollar, Gross Domestic Product (GDP) of 3.4 per cent and an inflation rate of about 23 per cent plus the state internally generated revenue were also taken into consideration.

According to him, no fixed amount has been pegged as the state budget for 2026 until the MTEF gets the nod of the State House of Assembly.

‘But there will be at lest 50 per cent rise in our 2026 budget above what we have this year. On our budget performance, capital projects and current expenditure recorded about 96 per cent and 86 per cent as at June.’

Also speaking, the Commissioner for Housing, Angele, disclosed that the state government also approved the construction of Judges quarter of 10 four-bedroom duplexes in two locations; Asaba and Warri.

According to him, five four-brooms duplex will be constructed in Asaba, while another five would be constructed in Warr/Osubi axis.

Angele said that the approval was in fulfilment of the governor’s pledge and effort to carry all arms of government: the executive, legislature and judiciary in terms of infrastructure development and provision of accommodation for all.

The Federal Ministry Education has welcomed digital classrooms as well as ICT Labs in the Federal Government Girls College Abuloma which is located in the southernmost ends of Port Harcourt, Rivers State.

Maruf Olatunji Alausa, the Minister, who rendered the commendation on Thursday, October 9, 2025, while speaking as special guest of honour to mark the 50th anniversary of the College said it was a big privilege for the College to be showered by smart classrooms and other sensitive projects which were executed by the FGGC Old Girls Association.

The Minister, who was represented by Inyang Ukpe, Principal of Federal Government College, Port Harcourt, mentioned the projects that set the college high as the 21st century leap which is the four STEAM-enabled smart classrooms.

The Minister said the N50m investment is not just about technology, but about preparing young girls for the future of work and innovation, ensuring they were globally competitive in Science, Technology, Engineering, Arts, and Mathematics.

The Minister said ICT and Infrastructure upgrade being embarked upon by the FGGC Old Girls was in addition to provision of 23 laptops for the ICT Lab and the crucial renovations of the Biology Laboratory and the school library. ‘Access to clean water, which you addressed through the repair of the water reticulation system in the hostels, speaks directly to student welfare, a top priority for the Ministry.’

The Minister mentioned other projects such as legacy of giving, a mentorship programme. He harped on the theme of this anniversary, ‘Roots to Golden Fruits: Remembering the Past, Celebrating the Present, and Empowering the Future’, saying; ‘The Roots are the pioneering efforts of the founders, the dedication of the early teachers, and the investment made by the FG 50 years ago.’

In a major speech, Itoro Clement Isong, the national president of the Association, said the school was founded to be a beacon of light that shaped young minds and molded future leaders. Thus, the school has produced doctors, engineers, teachers, artists, entrepreneurs, homemakers, beauty queens, politicians and public servants and all careers in-between, who she said were making a difference not just in Nigeria, but across the globe.

Isong went on: ‘Over the years, we have worked to support the school and its students. Today, we are proud to launch our two legacy projects: The Alumnae Legacy Park and the STEAM-enabled Smart Classrooms.’ She noted that the ‘Alumnae Legacy Park’ is more than just a beautiful space but a testament to the enduring bonds of friendship and sisterhood that were forged in the school years back. ‘The STEAM-enabled Smart Classrooms represent our commitment to the future. In a rapidly changing world, we must equip our students with the skills they need to lead and innovate.’ She mentioned how the projects were executed and mentioned Sterling One Foundation, BGI Energy Services LTD, Zomay Group, Seplat Cares -Seplat Energy’s comprehensive Corporate Social Responsibility (CSR) and sustainability initiatives, Sparkle MFB, WOWBII, Ceion Innovations Limited, and X3M Ideas.

Ibim Semenitari, chairperson of the Board of Trustees, threw some light on the projects after the commissioning of the Legacy Park and the digital classrooms by Inyingi Brown, the head of service in Rivers state.

Semenitari, former information commissioner in the state and former acting managing director of the Niger Delta Development Commission (NDDC), said the Old Girls decided to execute two strong legacy projects; the Legacy Park, and the Smart Classrooms for the girls.

‘This is not the first time the Old Girls are executing projects here. We have complete ICT Lab, Sick Bay, Tractors for the school, Scholarship Scheme that helps indigent children. We have even supported some Old Girls who found it difficult to go the University to accomplish the dream. We have a mentorship programme where Old Girls mentor the younger ones.

‘So, this 50th anniversary, we said, let us do something different. The Smart Classrooms are simply next generation, the most current you can have. It allows the children and teachers interface in realtime in manners that make the children enjoy the content, and to access virtual reality to make things happen.’

She said the children make the Old Girls proud with academic excellence.

‘In national competitions, they do well. This is the breeding home for queens: Senior Advocates of Nigeria (SAN), an old girl (senior prefect 1980) is the one in charge of electricity in Washington DC, an old girl was the very first black person (male of female) to be president of the Commonwealth Lawyers Association

‘So, we are proud of the quality of girls that this school has produced. The Almuni was started in the early 1990s.’

The highlight of the event was N20m donation by Dumo Lulu-Briggs, a chief and lawyer who said he married from the College. He called for reflections that would help return Rivers State to old values and dreams of unity and looking out for one another.

The monarch of Abuloma, Bright Ateke Fiboinumama, said the school impacted the community positively. He pledged the commitment of the community to continue to support and protect the school.

In a bid to provide affordable housing and support the federal government to tackle the country’s housing deficit, Brass and Castle Homes has delivered over 16 units of flats to clients.

The units are the fourth in the last three years in the series of affordable homes to be delivered by the company to Nigerians.

At a ceremony held in Ilasan, Ikate, Lekki to hand over keys to the flats to individual, Peacemaker Afolabi, the managing director, Brass and Castles Homes, lamented the shortage of housing in the country noting that about 28 million Nigerians are suffering from not having a roof over their head.

Afolabi added that the flats which were purchased by individuals based on down payment of a token and subsequent installment payment policy will reduce housing deficit in Lagos.

He further said a total of 52 units had been delivered in the last three years adding that there is ongoing construction of another 18 units which will allow more Lagosians to have access to affordable homes.

‘Today we are handling the units purchased from us. For us, we are here to solve the housing deficit. We know there is a shelter deficit in Nigeria to the tune of almost 28 million but as a company,’ Afolabi said.

‘We can only add our own quota to reduce it whether at advisory level or advocacy level or by building more units. This is the fourth unit we are delivering in three years. We have done a total of 52 units and we have another 18 units we are currently developing,’ he added.

Afolabi noted that for the government to reduce the problem of housing in Nigeria, there should be collaboration between government and the private sector.

He also called on the government to provide financial assistance to the real sector so that they can build more affordable homes for the people.

‘We want collaboration with the government. We can’t get it wrong when we collaborate. I have been an advocate for collaboration between the government and private sector. We are seeing the collaboration but we want more not only at the federal level but at the state level too.’

‘We need the private sector to collaborate among themselves too. The government also needs to create a finance system where it will be very easy for developers to have access to funding.’

On the issue of incessant building collapse, Afolabi said there should be enforcement of the building standard by the government and urged developers to avoid use of building materials.

‘Everybody is at fault when it comes to building collapse. One of the challenges developers have is that the process to get building approvals is too cumbersome. We need it to be reduced so that developers can have smooth operation,’ he noted.

We also need the Standard Organisation of Nigeria, SON, to apply their rules by not allowing inferior materials to come into the country, he advised, saying that the country has always recorded building collapse which is more frequent now.

‘People must be held accountable for any collapsed building. The government and developers must play their roles and people must hire professionals too when building,’ Afolabi said.

Eunice Afolabi, executive director, Brass and Castle Homes, commended the subscribers for trusting in the company’s ability to deliver.

‘We are grateful our clients were committed to the project. We will always deliver. We are working on the fifth project. We are a tested brand and we have delivered,’ she said.

One of the beneficiaries, Ifedayo Olaosebikan who was represented by Dayo Busari to receive his keys and certificate of completion thanked the management of the company for delivering on the project and ensuring standard was followed and quality materials used during the construction.

The federal government has launched a National Digital Trustmark to enhance consumer confidence and promote transparency in Nigeria’s $13 billion e-commerce sector.

The initiative is being implemented in partnership with key regulatory bodies, including the Corporate Affairs Commission (CAC), Central Bank of Nigeria (CBN), and Nigerian Communications Commission (NCC).

Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA), announced the launch on Thursday in Abuja.

The portal, developed by NITDA in collaboration with the German Development Cooperation (GIZ) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Trustmark provides a verifiable certification for legitimate online businesses.

Abdullahi stated that the Trustmark will help curb online fraud, identity theft, scams, and forgery, while fostering trust and integrity in Nigeria’s digital business space.

According to him, ‘The National Digital Trustmark has become essential in light of growing global concerns around online and e-commerce activities involving Nigerians.’

He expressed concern over the negative perception of Nigerians as fraudsters due to recurring cases of online scams, such as customers making payments without receiving goods or receiving items that do not meet advertised specifications.

Abdullahi explained that the Trustmark, supported by GIZ and NACCIMA, is designed to address such challenges. It will serve as a security seal issued by NITDA to certify and authenticate digital businesses.

The seal will be displayed on platforms, letterheads, and websites to verify registered companies or entities operating in Nigeria, with at least one identifiable office.

He noted that while the certification is not mandatory, it will involve a fee based on business size and specialization. The registration portal is expected to open next week.

Tijani Ibrahim, President of NACCIMA-represented by Suleiman Audu, Special Adviser on Digital Economy Trade Group-described the seal as a step toward building a safer and more competitive digital economy.

He assured that NACCIMA, in collaboration with stakeholders such as SMEDAN, NAFDAC, and SON, would ensure smooth implementation, free from bureaucratic hurdles.

Chinedu Albert, a GIZ representative, said the Trustmark certification would be renewed annually to maintain transparency and accountability. He described the initiative as a model for public-private partnerships.

Albert highlighted that Nigeria’s e-commerce market accounts for just 0.055% of the $27 trillion global market-a figure largely attributed to trust issues.

The Trustmark, he said, directly addresses this and aligns with the African Continental Digital Trade Protocol, which encourages cross-border trust mechanisms to support intra-African trade.

He emphasized that both public and private online businesses would be eligible for the seal, which aims to eliminate fraud and illicit transactions in Nigeria’s digital space.

Albert also noted that while Nigeria is often associated with online fraud, some of the activities have been traced to foreign nationals.

He added that similar seals are already being implemented in countries like Rwanda to combat cyber fraud, identity theft, and data mismanagement.

Nigeria’s policymakers have reason for cautious optimism. Headline inflation has eased from a rebased 34.8 percent in December 2024 to 21.9 percent by July 2025. Foreign reserves stand at a three-year high of $40.1bn, while the IMF forecasts output growth of 3.4 percent this year. The Central Bank of Nigeria (CBN) is even more bullish at 4.2 percent. On paper, the economy appears to be stabilising. On the ground, however, the picture is far less reassuring.

The real debate is no longer about whether the economy is growing; it is about who feels it. For many Nigerians, the so-called recovery ends at the pages of economic reports. You can’t eat GDP, as the saying goes. When inflation falls on paper but bread doubles in price, the numbers begin to sound like another language.

‘The deeper question is why macroeconomic progress so rarely translates into welfare gains. Nigeria’s growth model rewards capital, not labour.’

The headline data suggest an economy recovering from the shocks of 2024. Yet the recovery is shallow and exclusionary. Growth is concentrated in oil, finance, and telecommunications, sectors that generate revenue but few jobs. While core inflation has moderated, food and transport still consume more than half of an average household’s income.

Per capita income continues to fall, from $877 in 2024 to $835 this year, underscoring how aggregate growth has failed to outpace population expansion. The much-heralded rise in reserves also masks fragility: net reserves, at about $23bn, barely cover a few months of imports. Meanwhile, debt servicing absorbs nearly half of federal revenue, leaving little room for investment in health, education, or infrastructure. Officials urge patience, arguing that reforms take time to yield results. Nigerians have heard this before. Two decades of ‘stabilisation first, welfare later’ have delivered neither. Structural weaknesses, fiscal inefficiency, overreliance on oil, and chronic underinvestment in power and manufacturing remain unaddressed. They continue to erode the social contract and widen the gulf between statistical stability and daily hardship.

Small businesses, which employ more than 80 percent of the workforce, are bearing the brunt. Interest rates above 25 percent, currency volatility, and unreliable electricity have forced thousands to close. The Nigerian Economic Summit Group estimates that nearly 30 percent of MSMEs will shut down between 2024 and 2025. The government’s ?4tn electricity refinancing plan must therefore translate into improved power supply, not merely accounting adjustments.

Food insecurity remains acute. The UN’s Food and Agriculture Organisation projects that 33 million Nigerians will face high levels of hunger this year. While the CBN attributes falling inflation to tighter monetary policy, that discipline has come at a social cost: eroding real wages, higher unemployment, and diminished purchasing power. The deeper question is why macroeconomic progress so rarely translates into welfare gains. Nigeria’s growth model rewards capital, not labour. Unlike peers such as Kenya or Indonesia, which have paired fiscal discipline with SME credit and export diversification, Nigeria relies heavily on oil and financial flows to sustain output. The result is an economy that grows in spreadsheets but contracts in welfare.

To correct the course, the government must move from managing indicators to managing outcomes. Three priorities are clear. First, fiscal reform should be anchored in transparency and efficiency. Reducing debt servicing, broadening the non-oil tax base, and curbing leakages would free fiscal space for capital investment.

Second, credit and energy reforms must target productive sectors. MSMEs cannot thrive in a system that rewards speculation over production. Affordable financing and reliable electricity are the minimal conditions for inclusive growth. Third, social protection must move beyond ad hoc palliatives. A credible national safety net, linked to verifiable data and funded through fiscal discipline, is vital to cushion the poorest against inflationary shocks.

These are not novel ideas, but Nigeria’s policy challenge has always been consistency. Each administration announces reform, only to retreat under political pressure. True stability cannot be defined by a temporary easing of inflation; it must rest on the resilience of households and enterprises.

Policymakers will insist that ‘fundamentals are improving.’ Yet Nigerians cannot live on fundamentals. When a market trader pays triple for food while reading of falling inflation, she is justified in her scepticism. Economic stability must be measured not by PowerPoint metrics but by purchasing power, job creation, and social security.

If Nigeria’s leaders can align macroeconomic prudence with household welfare, 2025 could mark the beginning of a genuine recovery. If not, the country will remain trapped in a statistical mirage, growing on paper while its citizens fall further behind.

The Economic and Financial Crimes Commission (EFCC) has arraigned Ngozi Olejeme, former Board Chairman of the Nigeria Social Insurance Trust Fund (NSITF), before the Federal High Court in Maitama, Abuja, over allegations of laundering public funds amounting to ?1 billion.

Olejeme appeared before Emeka Nwite (Justice) on Wednesday, where she faced an eight-count charge bordering on money laundering, conversion, transfer, and possession of proceeds of unlawful activity.

According to the EFCC, the offences were allegedly committed during her tenure as NSITF board chairman in 2012.

The commission alleged that Olejeme used her position to divert large sums of money belonging to the agency through companies linked to her.

One of the charges accused her of indirectly converting ?321.6 million, paid into the account of Adin Miles International Ltd with Sterling Bank Plc on February 9, 2012, knowing the funds were proceeds of unlawful activity.

The EFCC maintained that the act contravenes Section 15(2)(b) and is punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011, as amended in 2012. In another count, the anti-graft agency alleged that Olejeme procured one Chuka C. Eze to convert $2 million into naira for payment to the same company, Adin Miles International Ltd, despite knowing that the funds were proceeds of an unlawful act.

Olejeme, however, pleaded not guilty to all eight counts when they were read to her in court.

Emenike Mgbemele, EFCC’s prosecuting counsel, requested the court to fix a date for trial, stating that the commission was ready to call 14 witnesses to testify against the defendant.

However, Emeka Ogboguo, defence counsel, drew the court’s attention to a pending bail application and prayed that his client be granted bail pending the commencement of trial.

Nwite subsequently released the defendant to her counsel and adjourned the case to November 17, 2025, for the hearing of the bail application.

Olejeme, who chaired the NSITF during the administration of former President Goodluck Jonathan, has been under EFCC investigation for several years over alleged diversion of funds meant for the agency.

Stakeholders in Nigeria’s risk management sector have opposed a bill before the House of Representatives seeking to establish the Chartered Institute of Enterprise Risk Management of Nigeria, describing it as unnecessary and a duplication of existing legislation.

In a memorandum submitted to the House Committee on Commerce, Victor Olannye, Registrar of the Chartered Risk Management Institute of Nigeria (CRMI), said the proposed law overlaps with the functions of the already established Chartered Risk Management Institute of Nigeria, created by Act No. 39 of 2022.

‘Upon careful review of the bill, we wish to draw the Committee’s attention to certain issues surrounding the proposed legislation, specifically its overlap with existing laws and its implications for the integrity of the legislative process,’ Olannye stated.

He noted that the 9th National Assembly had passed the Chartered Risk Management Institute of Nigeria Act in 2022, which was duly assented to by the President and gazetted, conferring full legal status on the institute.

‘The Act comprehensively governs and promotes the practice of risk management in Nigeria, including professional certification, regulation, and the advancement of the profession,’ he said. Olannye explained that the primary objective of the proposed Chartered Institute of Enterprise Risk Management of Nigeria-to control and promote the practice of risk management-is already fully covered by the 2022 Act. ‘As such, the proposed bill duplicates functions and responsibilities already legislated under the existing law,’ he added.

He warned that the legislature has consistently frowned upon the unnecessary proliferation of professional bodies, particularly where their mandates are already covered by existing legislation.

‘Creating overlapping institutions not only leads to inefficiency and confusion within the profession but also undermines the integrity of the legislative process,’ Olannye said.

The CRMI therefore urged the House Committee to drop the bill.

Responding, Ahmed Munir, Chairman of the House Committee on Commerce, reaffirmed the 10th Assembly’s commitment to transparency, inclusiveness and people-oriented legislation aimed at driving Nigeria’s economic growth and institutional reform.

Munir said the House remained focused on ensuring that every proposed law reflects the genuine needs of Nigerians.