Category: Business Day

The Senate on Tuesday considered a bill seeking to amend the Passport (Miscellaneous Provisions) Act to impose penalties on Nigerians convicted of crimes abroad, including the withdrawal of their international passports for a minimum of 10 years.

The bill, sponsored by Abubakar Bello (Niger North), aims to redeem Nigeria’s image in the international community and curb criminal activities by citizens in foreign countries, which lawmakers said had led to widespread profiling and visa denials against Nigerians.

Leading debate on the bill on behalf of the sponsor, Onawo Ogwoshi, said the proposed amendment was ‘imperative and compelling’ as it would ‘serve as a strong deterrent’ against crimes committed by Nigerians in foreign jurisdictions, which have ‘dealt a crashing blow to the nation’s reputation.’

He noted that countries such as China, Turkey, Canada, Germany, South Africa, and the United Arab Emirates had imposed stringent visa restrictions on Nigerians due to repeated reports of crimes and convictions involving holders of Nigerian passports.

He said, ‘Innocent and patriotic Nigerians suffer harassment in international transits, visa denials, and discrimination because of the actions of a few.

‘The green passport, once a symbol of pride, is now widely discountenanced. That is nothing less than a state of emergency.

‘If this law passes, it will send a message not just to criminals, but to foreign jurisdictions: Nigeria is serious about upholding the rule of law at home and abroad.’

The bill proposes that any Nigerian convicted of a crime in a foreign country would have their passport withdrawn for ten years after serving their sentence.

The measure, he explained, would ‘redeem, preserve, and elevate the image and integrity of our dear country.’

Tahir Monguno ( Senator, Borno North) described the proposal as ‘apt and germane,’ saying it could not have come at a better time given the global profiling and visa denials faced by Nigerians.

‘This bill will not only punish those who bring shame upon Nigeria abroad, but will also act as a powerful deterrent, letting Nigerians everywhere know that crime across borders has consequences.’

He lamented that many innocent Nigerians were suffering reputational damage due to the criminal actions of a few citizens abroad.

Supporting the bill, Senator Babangida Hussaini (Jigawa Northwest) called for tighter control over passport issuance to prevent non-Nigerians from fraudulently obtaining Nigerian passports.

‘Nigerians of all shades and colours are being disrespected in foreign lands because of the ease of acquiring Nigerian passports.

‘In some cases, crimes committed by foreigners are attributed to Nigerians simply because they carry our passport.

‘We must reclaim the dignity of the green passport. When non-Nigerians use it to commit crimes, and Nigerians are profiled for it, that is an injustice to our people.’

Senate President Godswill Akpabio also threw his weight behind the bill, describing it as ‘a bold step to preserve the dignity and integrity of Nigerians.’

He recalled a case in Dubai where a group of black men committed robbery using Nigerian passports but were later discovered not to be Nigerians.

‘This bill will help tighten the process of passport issuance and ensure that those who mess up the country’s image abroad face the consequences.

‘Any Nigerian who tarnishes our image should not only face imprisonment abroad but also lose their passport for at least 10 years,’ Akpabio said.

The bill, which enjoyed unanimous support on the floor, was referred to the Senate Committee on Interior for further legislative work and public hearing.

If passed, the law will make Nigeria one of the few African countries with domestic legislation sanctioning citizens convicted of crimes in foreign jurisdictions, as part of efforts to restore global respect for the Nigerian passport.

‘I applauded this bill when I first read it, because it speaks to preserving the integrity and international reputation of our nation’

Akpabio reiterated, ‘So as this bill, when it goes through public hearing and all, and comes back to us, and we send it to Mr. President for assent, and the concurrence of our colleague in the House of Representatives who helped to cope such incidents, who tightened the ways and manner in which Nigerian passports circulate in the hands of foreigners, and also where a Nigerian goes to mess up the image of the country, such a Nigerian should not just go to prison and be deported to Nigeria.

‘Such a person should actually lose an international passport for at least 10 years, or 10 to 20 years, to serve as a deterrent.’

Political parties under the umbrella of Inter-Party Advisory Council (IPAC) are demanding immediate legal reforms to strip the Executive Arm of Government of its power to appoint the chairman, secretary, and national commissioners of the Independent National Electoral Commission (INEC).

While warning that the nation’s democracy is under threat as long as the electoral umpire remains in the grip of the Presidency, they stressed that the change is essential to safeguard the Commission’s independence and restore public trust in Nigeria’s electoral system.

They made this demand on Monday in Abuja during a consultative meeting between the House of Representatives Committee on Constitution Review and leaders of political parties. The session, chaired by Benjamin Okezie Kalu, Deputy Speaker, brought together lawmakers, party leaders, and civil society representatives to deliberate on key amendments to the 1999 Constitution.

Yusuf Dantalle, National Chairman of IPAC, the umbrella body of registered political parties, said Nigeria’s democracy could only thrive when INEC operates free from the Executive Arm’s interference.

He proposed the establishment of an Independent Appointment Committee (IAC) to oversee the appointment of top electoral officials.

‘To promote the independence of the commission, the power to appoint the chairman of INEC, its secretary, and national commissioners should be taken away from the Executive.

‘We propose an Independent Appointment Committee composed of representatives from all registered political parties, civil society organisations, the National Judicial Council, and the National Assembly. This will ensure transparency and inclusivity in the appointment process’, he said.

Dantalle further outlined IPAC’s wider reform agenda, which includes granting financial autonomy to Local Governments, scrapping State Independent Electoral Commissions, restoring funding for political parties, establishing an electoral offences tribunal, and creating special legislative seats for women.

According to him, these measures are crucial to ensuring credible elections and strengthening democratic governance ahead of the 2027 general elections.

Kalu, the Deputy Speaker, described the Constitutional review as a defining moment in Nigeria’s democratic journey. He said the House Committee is committed to making the process inclusive, transparent, and reflective of the aspirations of all Nigerians.

‘If Constitutional amendments are to be legitimate, they must have the buy-in of political parties. This process must not serve the interests of the few but strengthen institutions, empower citizens, and renew confidence in our democracy,’ Kalu noted.

Kalu also reaffirmed the Committee’s commitment to ensuring greater representation of women in governance, fiscal independence for local governments, and an electoral system that reduces post-election disputes.

But, Godswill Akpabio, the Senate President, commended the initiative of the House Committee and stressed that credible elections and justice are the bedrock of peace and stability in any democracy.

‘When elections fail, trust dies. When justice delays, faith decays. We must strengthen INEC, shield our courts from corruption, and restore the people’s confidence in their institutions. True federalism begins at the grassroots, and local governments must be freed to function effectively’, Akpabio said.

He also expressed strong support for women’s inclusion in governance, recalling his previous efforts to sponsor a bill for special seats for women in the National Assembly.

Also speaking at the event, Amina Bryhm, President National Women Leaders’ Forum of Political Parties in Nigeria, described the proposed Special Seats Bill for Women as a ‘bold step toward correcting historic imbalances.’

‘The special seats bill represents a call to action. Together, we can turn our focus into action and our aspirations into reality,’ she said.

The Lagos State Government (LASG) has unveiled a perception survey for commuters’ experience on the city’s public transportation systems.

According to a statement by Lagos on its official X handle, the Lagos Bureau of Statistics, in collaboration with the Lagos Metropolitan Area Transport Authority (LAMATA) and the Lagos Ferry Services Company (LAGFERRY), convened a one-day training session that brought together coordinators, supervisors, and enumerators from across the state who will engage commuters and collect feedback on the rail, road, and water transport services

The statement noted that the survey is designed to capture how Lagosians truly experience public transportation, not just in terms of service delivery, but in terms of impact.

‘It’s a listening exercise, a mirror held up to the system, and a tool for shaping smarter and more inclusive policies. It aligns with Governor Babajide Olusola Sanwo-Olu’s THEMES Plus development agenda, which emphasises traffic management, transportation, health, education, technology, and inclusive governance,’ it stated.

Delivering the keynote address, Olayinka Ojo, permanent secretary, Ministry of Economic Planning and Budget (MEPB), represented by Alao Akinkunmi, director economic intelligence department, commended LAMATA and Lagos Ferry Services for embracing transparency and accountability through citizen engagement.

‘This initiative shows we are learning, adapting, and evolving to meet the real needs of our citizens.

‘Field officers are the first and most critical link in the data value chain. Their accuracy and professionalism directly influence how effectively the government can plan, allocate resources, and evaluate programmes,’ Ojo said.

She also highlighted the importance of empathy and public trust in the data collection process, urging enumerators to approach their work with integrity and respect for the voices of everyday Lagosians.

‘When citizens feel heard, they are more likely to participate, and that participation strengthens our democracy,’ Ojo said.

She expressed confidence that the training would empower field officers to deliver high-quality data that would shape the future of mobility in Lagos State.

Ayodeji Adegboye, Lagos Metropolitan Area Transport Authority (LAMATA) representative, offered practical guidance to enumerators, highlighting peak operational hours (6:30 a.m. to 10 p.m.) and the importance of understanding the various transport systems from the Ikorodu-TBS BRT to standard bus routes like Abule Egba and Oshodi, and the seven-seater (FLM) buses.

He urged officers to be patient, punctual, and professional, noting that their role is vital in clarifying transport options to the public and gathering meaningful feedback.

The Central Bank of Nigeria (CBN) has, in new agent banking guidelines, introduced tough sanctions of N20 million against Point-of-Sale (PoS) agent banking operators who alter their ownership structure without first securing formal regulatory approval.

Under the revised guidelines, violators will face a minimum fine of N20 million, with an additional N500,000 penalty accruing for each day the infringement continues.

This development is part of a broader framework aimed at tightening regulatory oversight in Nigeria’s rapidly expanding agent banking sector. According to a circular issued on October 6, 2025 (reference number PSP/DIR/CON/CWO/001/049), the apex bank made it clear that any change in ownership, acquisition, or merger involving Super Agents or other stakeholders must receive prior approval from the CBN. The document, titled Guidelines for the Operations of Agent Banking in Nigeria, was signed by Musa I. Jimoh, Director of the Payments System Policy Department.

While the guidelines take immediate effect, certain provisions, particularly those concerning agent location and exclusivity, will be enforced from April 1, 2026.

The new framework outlines an extensive list of offences and corresponding sanctions that apply to financial institutions and agents operating within the sector.

Entities operating without a valid Super Agent license will be fined not less than N10 million, with an additional N200,000 for each day the violation persists. Those engaged in non-permissible agent banking activities will face fines starting from N5 million, daily penalties of N100,000, and may be required to forfeit any estimated profits gained from such activities.

Branding and advertising practices that contravene the guidelines will attract fines of no less than N2 million and an extra N50,000 for each day the violation continues. Failing to obtain CBN approval or a No Objection Letter when required will result in a N2 million fine imposed on the financial institution, with the same amount levied on each responsible director or senior management staff member.

Institutions that delay the submission of required periodic returns will incur fines starting at N2 million, in addition to N250,000 for each day of delay. Providing false or inaccurate information to the CBN will attract a minimum fine of N5 million, alongside the potential suspension or removal of the involved directors by the CBN Governor.

Failure to maintain proper accounting records will incur a minimum fine of N5 million for the financial institution. Where the breach is deemed wilful, the responsible officer will face an additional fine of N2 million.

Not responding to non-statutory CBN information requests within the prescribed period and format could result in fines of up to N5 million and an additional N100,000 per day until compliance is achieved.

In addition to the headline offence, changing a business name, corporate brand identity, or logo without the CBN’s approval or using names not previously approved will draw a fine of no less than N5 million, along with a mandatory reversion to the approved identity and a daily penalty of N100,000 for continued non-compliance.

Violations of anti-money laundering (AML), combating the financing of terrorism (CFT), and countering proliferation financing (CPF) laws will attract a N10 million fine from the financial institution and N2 million from each board member involved. Additional penalties may follow under the CBN’s 2018 AML/CFT/CPF administrative sanctions regulations.

Where fraud or related offences occur, financial institutions are required to assist law enforcement agencies with investigations and prosecutions. If an agent is found to be involved, the principal institution must immediately suspend the agent pending the outcome of investigations and blacklist the agent if convicted.

Failure by principals or Super Agents to implement control measures such as geo-locking equipment used in agent banking will attract a minimum fine of N5 million, plus a daily penalty of N300,000 for the duration of non-compliance.

With these revised sanctions, the CBN aims to enforce stronger accountability and operational discipline among stakeholders in Nigeria’s agent banking system.

You are one of very few professionals in your field. What opportunities are there for young Nigerians who may want to build a career in that space?

I’ve spent almost 20 years building secure cloud and AI platforms in the UK and US. The same opportunities exist here if young Nigerians focus on the right skills-data and ML engineering, platform engineering, and applied AI for local challenges like payments, agriculture, and energy. My advice: don’t just chase certificates-learn Python, Linux, Git, Cloud, Kubernetes, Terraform, and actually ship projects. Employers value results, not buzzwords.

How does a tech professional like yourself stay updated with new technologies and tools?

I treat learning as part of the job. Every quarter I focus on one new tool, one upgrade, and one security theme. I track release notes, follow expert communities, and most importantly, I test things hands-on. Breaking and fixing a system teaches me more than any article.

Do you think Nigeria is developing enough tech talents to challenge the rest of the world?

The talent is here. What’s missing is the conversion into industry-ready professionals. We need proper apprenticeships, shared computing resources, and better links to global opportunities. If we fix those gaps, Nigeria can compete-and even lead-in digital capabilities.

Why do you think Africa lags behind in tech growth?

It’s not talent-it’s environment. We deal with high infrastructure costs, patchy power, and inconsistent policies. Procurement often rewards talk over delivery. To catch up, we need stable policies, shared infrastructure, and contracts that pay for uptime and reliability, not just proposals.

You once mentioned that Nigeria can build digital services other countries will pay to use. What are some of these services?

Services around payments, identity, and fraud detection are clear opportunities. Agriculture and energy solutions also have export potential-think climate intelligence APIs, or fintech tools for prepaid power. And we shouldn’t forget African language AI models, which can power contact centres and digital services across the continent.

What challenges may hinder the country from achieving this?

The big ones are unreliable power, expensive infrastructure, inconsistent regulation, and cybersecurity gaps. We also have to avoid vendor lock-in. The solution is to build on open standards, strengthen security, and commit to maintaining systems-not just launching pilots.

Do you feel governments in Nigeria are adopting technology fast enough?

There are good examples, but overall, it’s too slow. The government needs dedicated delivery teams-engineers, product managers, security experts-who can move fast. Shared digital services like ID, payments, and notifications should be built once and reused everywhere.

Quantum computing is touted as a gamechanger. Will quantum have a similar or higher impact as GenAI in the coming years?

In the near term, GenAI will have the bigger impact-it’s already reshaping industries. Quantum will be transformative, but in specialised areas and over a longer horizon. For now, the real preparation is in post-quantum cryptography, making sure our systems are secure for that future.

What tech trends from other climes should Nigeria adopt to accelerate economic growth?

We should adopt digital public infrastructure-digital ID, instant payments, secure data exchange. Shared compute resources for startups and universities are also key. Add zero-trust security, open data for innovation, and FinOps to tie cloud spend to value, and we’ll see real acceleration.

What are the latest cybersecurity issues organisations need to be mindful of?

Supply-chain risks, MFA fatigue attacks, ransomware targeting backups, and API abuse are top threats today. With GenAI, we’re also seeing risks like prompt injection and data leakage. The fix is zero-trust security, signed software, posture management, and security built into every pipeline.

Beyond land registries, what blockchain use cases should governments pursue?

Company registries, public procurement, verifiable education certificates, healthcare claims, and trade documentation are strong use cases. The key is to start small, prove value, and scale gradually.

If Nigeria set up a National Compute Commons, what would it look like?

It would be shared GPU clusters and storage, managed with Kubernetes, open to startups and researchers. Access would be credit-based, with governance built in. It would host agriculture, health, and climate datasets, lowering barriers for innovation.

If you were asked to lead a Federal AI/Cloud Taskforce, what 12-month playbook would you execute?

In year one, I’d secure the cloud foundation, deliver a national MLOps platform, launch a Compute Commons pilot, and scale digital services like ID and payments. By the end of the year, we’d have working AI services for fraud detection, citizen engagement, and revenue protection-plus a new procurement model that pays for outcomes, not hours.

Any other thoughts?

Nigeria’s advantage is young talent and real problems at scale. If we build the right infrastructure, adopt open-source and cloud-native tools, and maintain consistent policies, we won’t just catch up-we’ll export solutions. That’s been the story of my career abroad, and it can be Nigeria’s story too.

Lagos, Nigeria – October 7, 2025 – Xiaomi, a global technology leader committed to delivering innovation for everyone, officially launched its latest smartphones, the Xiaomi 15T and the REDMI 15, at an exciting media event in Lagos. The highly anticipated launch marks another major step in Xiaomi’s journey to make cutting-edge technology accessible to Nigerian consumers, offering a powerful flagship device alongside an everyday companion designed to meet the real needs of the Nigerian market.

A Flagship Device for Trailblazers: The Xiaomi 15T

At the heart of the launch was the Xiaomi 15T, Xiaomi’s flagship innovation device. Crafted for users who demand the very best in design, performance, and photography, the Xiaomi 15T embodies Xiaomi’s philosophy of blending top-tier technology with user-centric experiences.

The Xiaomi 15T comes in three elegant colors-Black, Gray, and Rose Gold-and is available in one premium variant: 12GB RAM + 512GB storage. Priced at ?715,800, it sets a new benchmark for flagship smartphones in Nigeria.

Key Features of the Xiaomi 15T:

Leica Summilux Optical Lens – Developed in collaboration with Leica, the camera system delivers professional-grade photography, from vivid portraits to stunning low-light shots. Nigerians who love capturing everyday moments, from weddings to street life, will appreciate the depth and clarity the Xiaomi 15T offers.

MediaTek Dimensity 8400-Ultra Processor – Engineered for speed and efficiency, this processor ensures smooth multitasking, gaming, and streaming. Whether it’s handling heavy work tasks or entertainment, performance is seamless.

6.83′ 120Hz Eye-care Display – With a large, vibrant screen and eye-care technology, the display provides an immersive viewing experience while reducing eye strain, making it ideal for long hours of use.

Massive 5500mAh Battery + 67W HyperCharge – Battery life is a top priority for Nigerian users, and Xiaomi delivers with a long-lasting 5500mAh battery. Paired with 67W fast charging, users can power up quickly and stay connected all day.

Xiaomi HyperOS – Built on Xiaomi’s latest software innovation, HyperOS provides an intuitive and fast user experience, ensuring the device feels smart, fluid, and efficient.

The Xiaomi 15T is designed for professionals, creators, and power users who want a phone that goes beyond expectations. It is not just a device-it’s a lifestyle companion that brings creativity and productivity to the forefront.

Everyday Power for Everyone: The REDMI 15

Complementing the flagship Xiaomi 15T is the REDMI 15, a device crafted for everyday users who value practicality, long-lasting power, and immersive entertainment. The REDMI 15 underscores Xiaomi’s mission to make high-quality technology accessible to everyone.

The device is available in Midnight Black, Titan Gray, and Sandy Purple, giving users a mix of classic and trendy styles. Consumers can choose between two storage variants: 6GB+128GB priced at ?186,400 and 8GB+256GB priced at ?212,900.

Key Features of the REDMI 15:

Massive 7000mAh Battery – One of the largest batteries in its class, the REDMI 15 ensures days of usage on a single charge. This is especially valuable in Nigeria, where power availability can be a challenge.

6.9′ Immersive FHD+ Display – A big screen for big entertainment. From watching movies to online classes, the large display creates a rich, engaging experience.

Snapdragon 685 Processor – A reliable and efficient chipset that powers smooth everyday performance, supporting both work and play without compromise.

33W Fast Charging – Despite its huge battery, the device recharges quickly, giving users more time to enjoy and less time waiting by the socket.

50MP AI Dual Camera System – With a 50MP primary camera and AI enhancements, the REDMI 15 makes it easy for anyone to capture crisp, detailed photos, whether it’s for social media or personal memories.

The REDMI 15 is built for students, families, and everyday consumers who want dependability and value. It proves that powerful features don’t have to come with a flagship price tag.

Strengthening Xiaomi’s Commitment to Nigeria

Speaking at the event, Xiaomi Nigeria’s Country Manager, Xingyu, emphasized the importance of the Nigerian market in Xiaomi’s global strategy:

‘Nigeria is one of the most vibrant smartphone markets in Africa. With the Xiaomi 15T, we are bringing world-class innovation, and with the REDMI 15, we are delivering power and reliability at an affordable price. Together, they represent Xiaomi’s vision to serve every type of user.’

Xiaomi’s distributor partners, Finet and Raya Nigeria, also highlighted their commitment to ensuring wide availability, strong retail presence, and reliable after-sales support for Xiaomi customers nationwide.

A Launch That Bridges Innovation and Accessibility

The Xiaomi 15T and REDMI 15 launch event was not just about unveiling two new devices; it was about showcasing Xiaomi’s dual strategy in Nigeria-offering premium flagship experiences while also meeting the everyday needs of millions of consumers.

With the Xiaomi 15T, users get an unrivaled flagship smartphone packed with Leica camera technology, a powerful processor, and HyperOS-driven experiences. With the REDMI 15, consumers enjoy massive battery life, a large immersive display, and reliable performance at prices that make sense for the Nigerian market.

Availability and Where to Buy?

The Xiaomi 15T and REDMI 15 are now available in Nigeria through all authorized Xiaomi stores, including Finet, Raya, 3C Hub, Slot, and more.

Xiaomi 15T (12GB + 512GB) – ?715,800

REDMI 15 (6GB + 128GB)- ?186,600

REDMI 15 (8GB + 256GB) – ?212,900

Prefer online shopping? Visit Jumia.com to purchase your favorite Xiaomi products with just a few clicks! Stay tuned for more exciting updates and promotions by following Xiaomi Nigeria on Facebook, Instagram, X, and TikTok.

Ensuring financial leadership in uncertain times is a major role of finance managers that cannot be ignored. If not for anything, it protects a business and accelerate its growth.

When global companies speak about the complexities of doing business in Africa, few challenges loom larger than foreign exchange (FX) volatility, inflationary pressure, and regulatory uncertainty.

Amid these challenges limiting businesses, most finance leaders are weathering the storm and ensuring better returns for stakeholders.

Amongst those that demonstrated how strategic thinking, disciplined execution, and bold financial stewardship cannot only protect a business but also accelerate its growth is John Olajide, who served as Country Finance Manager for Lipton Nigeria.

Olajide was appointed during a period of significant transition for the continent’s most prominent consumer goods companies.

His financial management leadership proved instrumental in transforming the company from a legacy division of a multinational into a high-performing standalone business, achieving record profitability despite one of the most volatile macro-economic climates in decades.

When Lipton Nigeria separated from Unilever, it faced daunting financial headwinds. Currency instability, foreign exchange scarcity, and rising input costs posed existential risks to operations and profitability.

Today, Lipton Nigeria stands as a stronger, more agile, and more profitable business – a testament to the vision, resilience, and strategic brilliance of the finance leader who helped steer it through one of the most challenging periods in its history.

Under Olajide leadership, Lipton Nigeria introduced rigorous financial governance practices, including advanced forecasting models, scenario-planning frameworks, and real-time performance dashboards. These tools empowered leadership teams with better decision-making capabilities, improved working-capital control, and strengthened overall financial resilience.

His focus on aligning operational decisions with financial outcomes fostered a performance-driven culture, allowing the company to respond swiftly to market changes while maintaining strong financial health.

As the company’s first finance head in its new independent structure, Olajide was entrusted with designing the financial foundation that would sustain the business beyond the shadow of its former parent company.

He built this foundation from the ground up – implementing governance frameworks, financial reporting standards, and liquidity strategies tailored to Nigeria’s economic realities. His leadership ensured that the company maintained operational stability during the critical transition period, positioning it for sustained growth.

One of Olajide most impactful contributions was the development of an innovative foreign exchange (FX) sourcing and risk-mitigation strategy that unlocked over $100 million in FX liquidity.

At a time when many manufacturers were forced to scale back operations due to severe foreign currency shortages, Olajide approach ensured uninterrupted access to imported raw materials and equipment.

By cultivating strategic partnerships with major financial institutions and designing robust treasury models, he insulated the business from FX shocks and allowed production to run at full capacity across five world-class factories producing soaps, detergents, savoury foods, tea, and toothpaste.

This strategic foresight was pivotal – it protected the company’s supply chain, safeguarded thousands of local jobs, and strengthened relationships with suppliers and distributors throughout the region.

Beyond managing risk, Olajide spearheaded a comprehensive profitability turnaround. Through a combination of margin optimisation, cost-efficiency programs, supplier renegotiations, and pricing strategy realignment, he increased the company’s gross margin from 28 percent in 2021 to over 40 percent by 2023 – one of the most dramatic improvements in the company’s history.

His financial strategy focused not only on cutting costs but also on unlocking structural value. By improving capital allocation, enhancing cost visibility, and aligning financial metrics with commercial priorities, John turned profitability into a strategic advantage, enabling the business to reinvest in innovation, capacity expansion, and market growth.

In a region where foreign exchange scarcity, inflation, and regulatory complexity often constrain business growth, his work demonstrates that with the right financial strategies, even the most volatile environments can become platforms for profitability and scale.

Olajide achievements in Nigeria represent more than corporate milestones – they reflect the transformative power of strategic finance leadership in emerging markets.

Prominent Nigerians have called for restraint and sustained dialogue following the recent dispute at the Dangote Refinery, warning that industrial disruptions of such magnitude could derail efforts to stabilise the economy and restore confidence in local production.

In a joint statement by Abubakar Siddique Mohammed, Aisha Yesufu, Arunma Oteh, Atedo Peterside COM, Bishop Matthew Kukah CON, Salamatu Hussaini Suleiman and Dudu Mamman Manuga Tuesday, the coalition of concerned stakeholders commended the Federal Government, labour unions, and Dangote Refinery management for de-escalating tensions through dialogue, but warned that future industrial disruptions could undermine investor confidence and economic recovery.

The statement described the Dangote Refinery as ‘more than a private venture,’ calling it a national symbol of what bold domestic investment can achieve after decades of failure in Nigeria’s state-run refineries and wasteful subsidy regimes.

‘Already, the refinery has begun to ease supply pressures, with petrol prices in some parts of the country dropping from around N1,500 per litre to about N820, a 55 percent reduction. This impact on transport costs and food prices offers Nigerians a glimpse of how local productivity can improve daily life,’ the group noted.

However, the signatories of the statement cautioned that strikes and threats of shutdowns could reverse this progress. ‘Industrial disputes, if not carefully managed, risk discouraging both domestic and foreign investment at a time when Nigeria most needs capital and innovation,’ the statement said.

Emphasising a balanced approach, the group outlined three key principles for sustainable growth: respect for workers’ rights, protection of productive enterprises, and commitment to social responsibility.

They stressed that while workers have the constitutional right to organise and demand fair treatment, such rights ‘cannot become a licence to hold the economy hostage.’

The statement also dismissed claims of monopoly against Dangote Refinery, arguing that Nigeria has regulatory institutions, such as the Federal Competition and Consumer Protection Commission (FCCPC), to handle such concerns.

‘Where there are legitimate issues of pricing or dominance, the proper channel is through these statutory bodies, not strikes that harm ordinary Nigerians,’ it added.

The coalition further urged transparency and community reinvestment from major investors, saying enterprises of such magnitude carry a social responsibility to the people they serve.

‘This crisis is not about a refinery or any other business. It is about the direction of our economy, whether we will continue in a cycle of scarcity and rent-seeking or build a future anchored in productivity, fairness, and shared prosperity. The Dangote Refinery represents an audacious step forward. It should not be undermined but strengthened, as a signal to other industrialists that investing in Nigeria’s future is worthwhile,’ the statement addded.

Other signees of the statement include Ibrahim Dahiru Waziri, Khalifa, Muhammad Sanusi II, Sarkin Kano, Obonganwan Barbara Etim James, Opeyemi Adamolekun, Osita Chidoka and Senator Sola Akinyede.

Plans are underway for a potential Anthony Joshua vs Martin Bakole heavyweight blockbuster fight in Nigeria in 2026, as top Nigerian promoter Dr. Ezekiel Adamu pushes to bring one of the sport’s biggest events to Africa.

Following his IBF world heavyweight title defeat to Daniel Dubois at Wembley Stadium in September 2024, former two-time world champion Anthony Joshua is gearing up for a comeback and Nigeria could be the stage for his next big fight.

Adamu Confirms Talks with Anthony Joshua’s Camp

Dr. Adamu, the CEO of Balmoral Group Promotions, who recently staged the successful ‘Chaos in the Ring’ boxing event in Lagos in partnership with Amir Khan, confirmed that discussions are already underway to bring Joshua home for a landmark bout.

‘It was an amazing success, a new opening for boxing in Africa,’ Adamu told Sky Sports.

‘The reception has been great from the locals, the boxing world, and the government as well.’

Adamu revealed that talks are ongoing to secure Anthony Joshua’s fight in the first quarter of 2026.

‘We’ve had a preliminary conversation, and we’ll keep going,’ Adamu said.

‘We all know AJ has always said he wants to fight in Africa before the end of his career, and we believe Nigeria is the best story. With over 250 million people and a strong economy, Nigeria is the heartbeat of Africa, and we’re ready to make it happen.’

Adamu also acknowledged Bakole as one of several possible opponents being considered.

‘He’s definitely an option,’ he said. ‘There are a lot of names on the table for this particular fight, but we want something that will excite the world and bring real sporting energy to Africa, especially Nigeria.’

Bakole Keen to Face Anthony Joshua in ‘Rumble in the Jungle II’

One of the frontrunners to face Joshua is Congolese heavyweight Martin Bakole, a former sparring partner of the British-Nigerian star. Bakole, who has shared the ring with Joshua in training camps, is eager to make the fight happen.

‘I’d take the fight with Anthony Joshua in a heartbeat,’ Bakole told Sky Sports. ‘We’re both African fighters, and now we’re seeing boxing return to Africa. If we get in the ring, I’ll knock him out, even in front of his home crowd in Nigeria. This would be the Rumble in the Jungle II.’

A coalition of prominent Nigerians has outlined a series of long-term solutions to avert future industrial disputes in Nigeria’s refining sector, following the recent labour dispute at the Dangote Refinery.

In a joint statement signed by respected leaders, including Bishop Matthew Kukah, Khalifa Muhammad Sanusi II, Atedo Peterside, Arunma Oteh, and Aisha Yesufu, the group commended the Federal Government, labour unions, and the Dangote Group for resolving the refinery dispute through dialogue rather than confrontation.

They urged that this peaceful resolution serve as a model for managing future industrial relations in the country’s energy and manufacturing sectors.

Promoting Constructive Dialogue Between Labour and Management

The signatories emphasised that structured dialogue remains the cornerstone of sustainable industrial harmony. While reaffirming workers’ constitutional right to organise and demand fair treatment, they cautioned against industrial actions that could destabilise strategic national assets.

‘Workers’ rights must be respected,’ the statement said. ‘However, the right to organise cannot become a licence to hold the economy hostage.’

They urged both labour and management to institutionalise negotiation frameworks that balance fairness with productivity, ensuring mutual respect and economic stability.

Strengthening Regulatory Oversight Through Institutions

Addressing public concerns about monopoly or market dominance, the group advised that such issues be handled through established statutory bodies like the Federal Competition and Consumer Protection Commission (FCCPC) rather than strikes.

The signatories noted that the FCCPC is legally mandated to assess competition and pricing issues, ensuring fair play within the refining sector.

‘There is no legal monopoly here,’ they clarified, stressing that other investors are free to venture into refining provided they possess the necessary capacity and expertise.

Fostering Transparency and Social Responsibility

The coalition further called on major investors to operate with transparency and uphold strong social responsibility standards. They urged enterprises of Dangote Refinery’s scale to maintain fair labour practices, reinvest in their host communities, and uphold ethical business conduct.

‘Social responsibility and accountability must remain central,’ the statement declared, adding that such practices build public trust and reinforce Nigeria’s industrial foundation.

Safeguarding Investor Confidence

Highlighting the refinery’s economic benefits, the signatories noted that petrol prices in some parts of the country have dropped by as much as 55 percent, from around N1,500 per litre to about N820, easing the burden on households and businesses.

They warned that persistent industrial disruptions could erode investor confidence at a time when Nigeria urgently needs private capital and innovation to stimulate growth.

They described the Dangote Refinery as a ‘national lifeline’ and a symbol of what bold domestic investment can achieve in driving economic transformation.

Building a Future Anchored in Productivity and Fairness

The group urged Nigerians to see the refinery episode as a broader lesson about the nation’s economic direction.

‘This crisis is not about a refinery or any other business,’ the statement read. ‘It is about whether Nigeria will continue in a cycle of scarcity and rent-seeking or build a future anchored in productivity, fairness, and shared prosperity.’

They called on the government, the private sector, and civil society to collaborate in fostering a productive economy that rewards innovation and transparency, rather than dependency on imports or subsidies.