Category: Business Day

The beer industry has called on the federal government to sustain existing home-grown digital systems that deliver full visibility of excise operations and reject the proposal to introduce tax stamps, which has unintended consequences on the productivity of the industry and revenue generation.

The industry described tax stamps (digital identifiers also referred to as tack and trace systems) as counterproductive, stating that they present operational challenges and financial risks that could undermine the fragile recovery of the industry and the Nigerian economy.

According to Abiola Laseinde, executive director, Beer Sectoral Group of the Manufacturers Association of Nigeria (MAN), the tax stamps system is largely inefficient, causing production slowdowns, distribution delays, product stock-outs, and high compliance costs.

Read sldo: Nigeria’s proposed tax reform seen curbing inflation

‘Industry is concerned that this proposal is coming at a time when operators are already grappling with rising excise rates, foreign exchange volatility, and high inflation-making the additional burden of implementing tax stamps a serious threat to business sustainability,’ Laseinde said.

‘Furthermore, tax stamps, which are often positioned as a solution to illicit trade, would have no benefit to beer, as there is zero illicit trade in the sector. The brewing process is complex, the product is bulky, and resale value is low, making counterfeiting unprofitable. It is also pertinent to note that the beer industry already maintains strict compliance, with digital counters, on-site Customs officers, and auditable records in place.’

Laseinde further said that the federal government has already invested in digital systems that deliver full visibility of excise operations.

‘Most recently, the Nigeria Customs Service (NCS) successfully launched and piloted the B’Odogwu automated Excise Reporting System (ERS), a modern platform that digitises excise administration. ERS replaces manual registers with an automated process that tracks production volumes and excise computation in real time, enhances compliance monitoring through full transparency, and creates an auditable digital trail that reduces leakages and inefficiency.’

She urged the government to rescind the proposed rollout of tax stamps to avert disruption to production, jobs, and revenues, while consolidating and strengthening existing systems like Customs’ ERS and FIRS e-Invoicing, which are effective, transparent, and locally driven.

‘Protect the local industry and jobs from avoidable financial burdens and capital flight to foreign tax stamp vendors. Preserve government revenues by avoiding policies that have failed elsewhere and would undermine compliance in Nigeria.

‘The industry remains committed to supporting revenue generation under frameworks that are effective, transparent, and efficient, while protecting government interests and business sustainability without creating unnecessary operational hurdles.’

Red Star Express Plc is not a new entity. As the sole licensee of FedEx Corp. in Nigeria, Red Star Express Plc remains the flagship, in the pick-up and delivery of express documents and parcels within the domestic and international market.

From when it began operation in October, 1992 to its listing in November 2007, the company has remained confident about its future.

Red Star Express re-echoed this optimism recently by assuring its shareholders at the company’s 32nd Annual General Meeting (AGM) that its operational agility and strategic direction will enable it to stay ahead of the curve and deliver long-term value to all stakeholders.

With a vision to be the company of first choice in the logistics service industry in Nigeria, Red Star Express Plc has 166 offices within Nigeria; deliveries to over 1,500 communities; and employs over 1,900 highly trained professional staff with over 700 vehicle fleet, according to its latest financial report and accounts.

‘We remain optimistic about the future. Red Star Express is entering a new phase of transformation anchored on innovation and technology. We are currently in the launch and testing phase of our proprietary e-logistics platform, a solution designed to revolutionise the logistics landscape in Nigeria,’ said Auwalu Badamasi Babura, Group Managing Director/CEO, Red Star Express Plc at the annual general meeting.

‘This platform represents a new way of thinking about logistics that prioritises speed, visibility, customer convenience, and operational intelligence. As we deepen our logistics infrastructure and expand our service offerings, we remain committed to sustainable growth and long-term value creation. Through this innovation and the strength of our people, Red Star Express is positioning itself as a technology driven logistics partner for the future,’ Babura said.

Also speaking, Suleiman Barau, chairman, Red Star Express Plc said at the 32nd Annual General Meeting of the company that ‘Despite the economic challenges, Red Star Express Plc delivered a strong financial performance’.

Impressive scorecard, improved reward for shareholders.

The company’s total group revenue rose by 34 percent to N21.60 billion in 2025, up from N16.27 billion in 2024.

‘This performance was driven by growth across our express delivery, haulage and freight, and support services, as well as continued operational discipline,’ Barau said.

Profit Before Tax (PBT) increased by 71 percent from N542.15 million in 2024 to N924.72 million in 2025. Similarly, Profit After Tax (PAT) rose by 59 percent to N546.5 million, compared to N343 million the previous year.

‘This growth reflects improved cost management, business development efforts, and increased customer confidence in our capabilities,’ the chairman told shareholders at the meeting.

As part of the company’s continued commitment to rewarding shareholder confidence, the Board recommend and got shareholders approval for payment of a dividend of 35 kobo per share (2024: 27 kobo). The dividend was paid electronically on September 18 to shareholders whose names appeared on the Register of Members as of August 26. The share price which has steadied at N11 recently nears its 52-week high of N14.35 as against a 52-week low of N4.05. The company has 954,423,326 shares outstanding on the NGX.

Babura said that the logistics and transport industry recorded improved performance during the year under review.

According to the National Bureau of Statistics (NBS), the Transport and Storage sector grew by 6.53 percent in real terms year-on-year in 2024, marking a strong rebound from the sharp contraction of negative 30.17 percent recorded in 2023. All six sub-sectors, including post and courier services, experienced positive growth during the year. The sector contributed 1.03 percent to real GDP in 2024, slightly higher than the 1 percent contribution in 2023.

‘This recovery reflects a gradual stabilisation in the economy and increased demand for intra-city logistics, express delivery, and e-commerce-driven logistics services,’ Babura said.

‘Despite the broader economic challenges, Red Star Express Plc delivered a strong financial performance,’ he added.

Babura noted that the Group made key strategic and operational improvements during the financial year in review.

‘We expanded our warehousing services with the addition of the warehouse facility at the Murtala Muhammed International Airport, Lagos, enhancing our capacity to support time-sensitive cargo and high-volume shipments.

‘We also made meaningful progress in technology adoption, introducing system upgrades that improved logistics visibility, automated key processes, and enhanced service reliability.

‘A review of our pricing model allowed us to remain competitive while better aligning with operational realities. In addition, stronger cost management practices helped us drive efficiency across our subsidiaries and improve margins,’ Babura said.

Red Star Express Plc was incorporated as a Private Limited Company on July 10, 1992 under the name, Red Star Express Nigeria Limited and commenced business operations on October 12, 1992. The Company was subsequently converted to a Public Company in July 2007 and had its shares listed on the Nigerian Exchange Limited on November 14, 2007.

The Company has three wholly owned subsidiaries; Red Star Logistics Limited, Red Star Freight Limited and Red Star Support Services Limited. The Group is principally engaged in the provision of courier services, mail management services, freight services, logistics, ware housing and general haulage.

Future outlook..

Looking ahead, Red Star Express Plc remains focused on leveraging technology to strengthen transparency and accountability, optimise delivery speed, and improve the customer experience.

‘Our ongoing investments in digital platforms, regional network expansion, and new delivery models are all designed to support long-term growth,’ Barau said.

‘We will also continue to build capacity across our workforce, by developing and encouraging a culture of accountability, innovation, and excellence,’ he further said.

Also speaking, Babura said, ‘Our focus in the coming year will remain on deepening investment in technology, expanding our service portfolio, and strengthening Red Star Express’s presence in both domestic and regional markets. These priorities are designed to sustain long-term growth and position Red Star Express as a trusted logistics partner across Nigeria and West Africa’.

The African Democratic Congress (ADC) has berated President Bola Tinubu’s silence over the growing spread of insurgents into many hitherto peaceful States, blaming the spread on the poor security strategy of the current administration.

During the weekend, intense attacks were reported in Kwara, a State that had been peaceful, with bandits demanding ransoms such as food, money and even drinks, from residents.

Bolaji Abdullahi, ADC National Publicity Secretary, writing on his X handle, blamed President Tinubu for what he described the ‘continued insensitivity to Nigeria’s worsening security crisis, accusing him of prioritising political appearances over his sacred duty of protecting the lives of Nigerians.’

Abdullahi dismissed as mere ‘political rhetoric’ the President’s remarks at the Church of Christ in Nations (COCIN) in Jos that his mission is to unite Nigerians, saying that the President’s actions since he came to office did not indicate that he understands what it takes to unite Nigerians.

Abdullahi lamented that insurgents are gradually spreading into states, such as Kwara and Oyo, with renewed attacks in Kogi, with threats of spreading into South Western states.

‘The newspapers are reporting that nine Local Government Areas in Kwara State, a state that had until this APC-led administration enjoyed a reputation for peace and stability, reportedly came under siege by armed bandits.

‘In a development that underscores the extent of state fragility, residents are now being forced to provide food items, drinks, money, and other services as ransom payments.’

The party expressed deep concerns over the brazen insensitivity of President Bola Ahmed Tinubu to the growing insecurity in the country.

‘This is a complete failure of governance. Yet, the presidency has neither acknowledged the situation nor outlined any plan of action to support the affected communities or hold those responsible to account.

‘On the same day, a similar tragic attack by gunmen was reported in Kogi State, during which travellers were killed and several others, including women and children, were abducted for ransom. Earlier in the week, there were reports that more than 180 schools across states in Northern Nigeria have been shut and children kept at home as a result of worsening insecurity. Unfortunately, these reports form part of a broader and bloodier pattern.

‘From Plateau to Zamfara, Benue to Niger, Kaduna to Kwara, incidents of mass abductions, violent attacks, and forced displacement continue to rise.

‘Despite this, the federal government persists in offering vague assurances that ‘progress’ is being made, an insensitive claim that is being refuted daily in blood and body counts of innocent victims who, it now appears, the gunmen kill for sport.’

‘As the Commander-in-Chief of Nigeria’s Armed Forces, in whom the constitutional authority to secure the lives and property of citizens is vested, the President’s continued preference for attending social and political events in the midst of alarming deterioration of internal security is both unacceptable and irresponsible.’

The party noted that while rural communities are being emptied and schools are being shut down, the President continues to attend funerals and ceremonies involving political associates.

‘This sends the unfortunate message that the President cares more about political appearances than the lives of Nigerian citizens.

‘We recall that earlier in the year, hundreds of people were killed by gunmen in the same Plateau State in attacks that lasted several months, but the President never thought it necessary to visit the state at the time.

‘Instead, the President remained in the cosy comfort of the Presidential Villa to condemn the attacks he should have prevented and issued directives that no one obeyed.

The party dismissed President Tinubu’s claim of progress in the fight against insecurity in Nigeria, describing such claims as ‘a tragic denial of the reality of most Nigerians who have had to bury loved ones in recent days and on a daily basis.

‘This denial by the President, no doubt, emanates either from cruel indifference or tragic oversimplification of a very complex problem.’

Sharafadeen Alli, an All Progressives Congress (APC) Senator that represents the Oyo South Senatorial District, has urged Governments at all levels to prioritise teachers’ welfare, training and working conditions to ensure improved productivity and sustainable educational standards.

The lawmaker while felicitating teachers across Nigeria on the occasion of the 2025 World Teachers’ Day, described them as nation builders and torchbearers of knowledge.

In a statement issued by his media office and made available to newsmen on Sunday in Ibadan, he reaffirmed his commitment to supporting legislative efforts and policies that would uplift the teaching profession, adding that investing in teachers was synonymous with investing in the nation’s future.

Alli commended teachers for their invaluable contributions to national development despite daunting challenges.

He said teachers remain the backbone of every thriving society, shaping minds, nurturing talents, and instilling values that form the foundation of a progressive nation.

He emphasised that teachers deserve greater recognition and motivation, considering their pivotal role in moulding future leaders and driving societal advancement.

Alli urged the private sector and well-meaning Nigerians to also support educational initiatives that empower teachers and enhance learning outcomes.

The senator congratulated all teachers for their steadfastness, patience, and dedication to duty, assuring that their labour of love would not go unrewarded.

He prayed for their continued strength, wisdom, and divine favour as they continue to impact generations positively.

A major human foible is the tendency to pursue symbolism at the expense of substance. It is not a particularly Nigerian flaw.

But the desperation that has characterised our politics, especially amongst the opposition, often makes it seem so. An example is the criticism of President Bola Tinubu’s inability to personally attend the recently-concluded 80th session of the United Nations General Assembly (UNGA 80).

Meetings are memorable, not just for the faces present, but also for the things said. Those who take unnecessary umbrage should look for something else to do with their time. The point should not be about the President’s presence or absence at the UNGA annual global event; it should be about the content, the quality of the country’s national statement and the President’s message at that extraordinary gathering of world leaders.

Held under the theme, ‘Global Partnerships, Local Prosperity,’ this year’s session of the United Nations provided a platform for Nigeria’s leaders to promote reforms, woo investors, and assert Africa’s place in global decision-making, international finance and trade.

Vice President Kashim Shettima led the Federal Government delegation to the talks. As he did last year at the behest of President Tinubu, the vice president was in his best elements as he delivered Nigeria’s national statement on Wednesday, September 24, on that global platform.

In that national statement, President Tinubu restated his advocacy over which he had been vocal and consistent: reform of the world body to include a permanent seat for Africa, particularly Nigeria, at the UN Security Council; nuclear disarmament; equitable access to global trade and finance; debt forgiveness; and climate justice, among others.

President Tinubu is passionate about these issues and never misses any opportunity to highlight them. The President has utilised every forum, including the 78th UNGA, which he attended a few months after his inauguration in 2023, and the Conference of the Parties (COP28) in Dubai, United Arab Emirates, in 2024, to advocate for these demands strongly.

He restated them in the message delivered by Vice President Shettima in 2024 at the 79th session of UNGA and in his message to a meeting of the Non-Aligned Movement in 2024 in Kampala, Uganda, among others.

President Tinubu must underscore these issues repeatedly in a bid to promote global peace, stability, and economic growth. The continental imbalance in representation at the UN, the imbalance in international trade among the regions, the Israeli genocide in Gaza, wars and threats of war in some parts of the world, among other agonising global issues, deserve to be stated, restated and frontally tackled.

Delivering Nigeria’s national statement, Vice President Shettima said: ‘We are here to strengthen the prospect for peace, development, and human rights. Madam President, I would like to make four points today to outline how we can achieve this. First, Nigeria must have a permanent seat at the UN Security Council.

This should take place as part of a wider process of institutional reform. Second, we need urgent action to promote sovereign debt relief and access to trade and financing. Third, the countries that host minerals must benefit from those minerals. And fourth, the digital divide must close.

As our Presidential Secretary-General has said, ‘AI must stand for Africa Included.’ Expatiating on this, he said the United Nations would recover its relevance only when it reflects the world as it is, not as it was. ‘Nigeria’s journey tells this story with clarity. When the UN was founded, we were a colony of 20 million people, absent from the tables where decisions about our fate were taken.

‘Today, we are a sovereign nation of 236 million people, projected to be the third most populous country in the world, with one of the youngest and most dynamic populations on Earth, a stabilising force in regional security, and a consistent partner in global peace-making.’

The Vice President followed up his presentation with a meeting with the UN Secretary-General, Antonio Guterres, where he further reiterated the demands. Given the UN Secretary-General’s temperament and positive posture towards reforms, Nigeria’s demands must have struck a resonant chord. Elected Secretary-General in October 2016, succeeding Ban Ki-moon, Guterres reformed the UN and addressed multiple global refugee crises.

On the sidelines of the 80th UN session, Vice President Shettima addressed a Global Champions Roundtable on Housing, led bilateral talks with investors on agriculture, solid minerals, and technology, and engaged with Nigerians living in the United States.

Two other important side events, among others, took place on the sidelines of UNGA 80 leaders’ talks. One was put together by the Minister of Trade and Investment, Dr. Jumoke Oduwole, to showcase investment opportunities in Nigeria and demonstrate that the country is ready for business.

The other, the 2nd Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development in Africa, which Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, chaired, stood out this year. The vice president attended both events and delivered important statements on behalf of President Tinubu.

At the first event, the consensus was that Nigeria has become one of the best places to invest, given its reform momentum and investment profile-namely, a large consumer market of over 200 million people, an over $280 billion economy, the largest in West Africa, and a 4.23% GDP growth rate that is still accelerating, among other things. President Tinubu, in a message delivered by VP Shettima, canvassed a total re-drawing of the global financial architecture for Africa’s mineral resources, saying it was time for its nations to begin not only financing their mineral sector but also asserting their influence and power in the global supply chains of African products.

According to the President, this has become necessary if the sovereignty of African nations is to be protected. He recommended collective action by development allies and partners to bring Africa’s mineral economy to reality for the benefit of the continent and its people. It was just as imperative for Alake, Solid Minerals’ minister and AMSG’s chair. He called for cohesion among African nations, saying that with a determined focus and a reinvigorated sense of partnership and transparency in the minerals sector, Africa will harness the benefits of a sustained, deepened, and well-harmonised mineral sector in all ramifications.

‘These resources are indispensable for global sustainable development and remain catalysts for Africa’s rapid industrialisation,’ he said.

Indeed, from the intermittent applause that greeted the delivery of Nigeria’s national statement on the floor of the UN General Assembly and the overwhelmingly favourable response to the country’s presentations and positions on issues canvassed at the side events held on the margins of the conference, there was little doubt that Nigeria’s messages resonated well at UNGA 80.

Buba Marwa, Chairman/CEO of the National Drug Law Enforcement Agency (NDLEA), on Monday, charged stakeholders in the ongoing development of the next National Drug Control Master Plan (NDCMP 2026-2030) to incorporate strategies to address new and emerging threats to the elimination illicit drug trade in Nigeria.

Marwa gave the admonition in Niger state, at opening of a five-day workshop to develop the fifth National Drug Control Master Plan for the country.

Femi Babafemi, Director, Media and Advocacy, NDLEA, in a statement, said that the residential retreat, funded by the ECOWAS Commission with the support of the United Nations Office on Drugs and Crime (UNODC).

Marwa noted that, ‘The task before us over the next few days is both strategic and historic,’ adding that ‘drug problem continues to evolve, and so must our response.’

Drug trafficking in Nigeria has continued unabated despite the stiff measures put in place by the federal government.

As part of the measures, the NDLEA has embarked on high level sensitisation and public enlightenment, targeting schools at the primary levels.

According to him, ‘The NDCMP 2026-2030 must be visionary yet practical; comprehensive yet targeted; and nationally owned yet regionally and globally aligned.

‘It must build on the achievements of the past, while boldly addressing new and emerging threats, from synthetic drugs to dark-web trafficking, from poly-substance use to the illicit financial flows that sustain the drug trade.’

He reminded all the stakeholders that the workshop offers the rare opportunity to deliberate, analyse and agree on strategic priorities that will shape the trajectory of Nigeria’s response for the next five years.

‘It is here that we will identify what has worked, acknowledge the gaps, and design innovative pathways for the future’, he added.

He urged all participants to bring to bear their expertise, experience and commitment, adding that the workshop is not just about producing another document but about charting a collective vision to safeguard the health, security and wellbeing of Nigerians.

He reaffirmed the Agency’s readiness to provide leadership, coordination and technical support to ensure that the new Master Plan is not only developed but also effectively implemented.

‘I also pledge that we will continue to strengthen collaboration with our partners, both within Nigeria and across the ECOWAS sub-region, for we know that the drug challenge recognises no borders.’

He commended the ECOWAS Commission ‘for sponsoring this workshop, and all our partners – the European Union, UNODC, civil society organisations, professional bodies and the private sector – for their continued collaboration.

‘Together, we are shaping a future where Nigeria and West Africa will be safer, healthier and more secure.’

Speaking at the workshop, Cheikh Ousmane, the UNODC country representative, who was represented by Akanidomo Ibanga, commended Nigeria’s drug control efforts so far.

‘Yet, we are all aware that the drug situation continues to evolve. Global and regional dynamics – whether related to new psychoactive substances, organized crime networks, or the impact of conflict and economic pressures – all shape local realities. Our response must therefore be adaptive, coordinated, and inclusive.

‘The Master Plan is the instrument through which this can happen.

‘This workshop offers a unique opportunity to review the draft chapters, harmonize perspectives, and ensure that the priorities identified reflect both national realities and international standards, including those enshrined in the three international drug control conventions, the 2030 Agenda for Sustainable Development, and the African Union Plan of Action on Drug Control’, he stated.

While commending the leadership of the National Drug Law Enforcement Agency (NDLEA) and the Federal Ministry of Health, as well as all members of the inter-agency working groups, for the dedication and expertise they bring to the process, he said that their work will serve as a compass for coordinated action over the coming years.

Also speaking during the opening ceremony of the workshop, Fatou Sow Sarr, ECOWAS Commission Commissioner for Human Development and Social Affairs, represented by Daniel Amankwaah noted that Nigeria, as a key stakeholder in regional drug control efforts, has taken proactive steps to develop national strategies aligned with international best practices.

‘The Nigeria’s current National Drug Control Master Plan (NDCMP) will expire this year and a new plan needs to be developed to address the emerging drug threats, trafficking patterns, and the increasing burden of substance use disorders. The new NDCMP will effectively respond to current and future drug-related challenges.

‘The ECOWAS Commission, in line with its mandate to support Member States in addressing drug-related issues, is providing technical and financial assistance to Nigeria in the elaboration of the new NDCMP. This initiative aligns with the objectives of the ECOWAS Drug Prevention and Control Programme and the broader regional efforts to strengthen drug demand and supply reduction mechanisms.

‘This support is a strategic step toward strengthening Nigeria’s drug control framework and aligning it with regional and international best practices.

He assured that ECOWAS Commission remains committed to supporting Nigeria in this effort, ensuring that the new National Drug Control Master Plan is robust, evidence-based, and effectively addresses the country’s drug-related challenges.

Other stakeholders who spoke at the ceremony include representatives of the Federal Ministries of Education, Health, Agriculture, Budget and Planning as well as NACA, NAFDAC, EFCC, and NFIU.

Seplat Energy Plc hits a new record high on the Nigerian Exchange (NGX), trading at N5,917.20 per share as of 12:30 PM (GMT+1) on Monday, October 6.

The stock gained 10 percent in Monday’s session, up from N5,379.30 at the start of trading. The rally reflects renewed investor appetite for the oil and gas major.

Market data shows buy-side transactions worth about N1.62 billion in Seplat shares. The surge places the stock among the day’s top gainers on the exchange.

While details of the large trades remain unclear, the price rally creates a visible gap between Seplat’s local and international listings.

At the start of trading, Seplat’s stock on the London Stock Exchange (LSE) was trading at £3.09 per share. At the prevailing exchange rate, this equals roughly N6,084 per share, a 13 percent premium to the NGX price at the start of the day.

The spread suggests a potential arbitrage opportunity for investors operating across both markets. Cross-listed stocks like Seplat often experience price variations driven by sentiment, liquidity, and currency fluctuations.

By midday, Seplat’s shares on the LSE had slipped 3.55 percent to £2.98 per share, thus narrowing the arbitrage to negative 0.7 percent. Analysts note that this divergence doesn’t necessarily indicate mispricing between two markets.

The NGX runs on a T+3 settlement cycle, while the LSE operates on T+2, a difference that can create short-term price gaps.

The Federal Government has announced that Nigeria’s National Single Window (NSW), a digital platform designed to streamline trade processes and boost export efficiency, will become operational in the first quarter of 2026.

Jumoke Oduwole, Minister of Industry, Trade and Investment, disclosed this at the 31st Nigerian Economic Summit (NES31) in Abuja.

Oduwole also underscored the government’s commitment to accelerating non-oil exports and improving trade facilitation through the African Continental Free Trade Area (AfCFTA) framework, noting that trade diversification remains a central element of the Renewed 8-Point Agenda, with item number seven focusing on export acceleration.

‘We’ve gone back to examine the foundations of our trade relationships, engaging both old and new partners. Our goal is to coordinate what has been happening in the Nigerian economy over the past five years within the AfCFTA framework,’

‘At the beginning of the year, the Ministry released an outlook document stating our priorities for the year, from investment mobilisation to our trade policy review, to industrial policy, and of course, driving exports diversification.

‘One of the pillars that I’ll rest on this morning is our use of the AFCTA as a strategic driver for rebalancing our normal exports. In Q1, the Central Bank released that year-on-year, exports from Nigeria to the rest of Africa had increased by 24 per cent year-on-year.

‘We’ve worked significantly on our national single window. That will be coming live in Q1 of 2026,’

According to her, Nigeria has made tangible progress, including conducting a five-year review of AfCFTA implementation, establishing a central coordination committee for AfCFTA to guide stakeholders.

She also stated that Nigeria has submitted its schedule of tariffs to the AfCFTA secretariat, leading as Africa’s digital trade champion, a title conferred by the African Union.

Oduwole also disclosed that Nigeria has also launched an Air Capital Corridor in partnership with Uganda Air, opening trade routes to 13 African countries for goods such as apparel, cosmetics, and light manufacturing products.

This initiative, she noted, has reduced air freight costs by up to 75 per cent, significantly boosting trade access for small and medium enterprises (SMEs).

She added that Nigeria’s first Trade Intelligence Toolkit has been deployed to support exporters.

‘We’re not only planning policies; we are implementing them. These actions are giving life to AfCFTA and strengthening Nigeria’s trade competitiveness,’ Oduwole said

She further disclosed that the Ministry is negotiating new trade and investment agreements with Nicaragua, Gulf nations, and Brazil, while working closely with the Office of the Vice President and the Ministry of Agriculture on export diversification and deforestation regulations.

Highlighting a recent success, Oduwole cited Nigeria’s collaboration with the International Trade Centre (ITC) and the Government of Japan, which prevented the rejection of Nigerian sesame exports, a commodity that makes up 40 per cent of Japan’s consumption.

The Minister also mentioned ongoing efforts to enhance customs coordination.

‘The ease of doing business part, working with businesses on specific issues, and then other agencies like the work of Nigerian Customs Service, the accelerated de-risking of certain businesses for fast track of their exports and imports, and those are some of the practical steps, some of the companies in this room have had that accreditation, the first round happened, and then we expanded in the later time,’ Oduwole said.

Recognising the need to boost investments in food production, the Africa Agriculture Dialogue (AAD) 2025, is seeking to boost agricultural growth and investments across the African continent.

AAD 2025 is bringing high-level stakeholders, including the government leaders, private sector actors, financial institutions, development partners and civil society to unlock finance for Africa’s agricultural transformation and inclusive growth.

The AAD 2025 aims to spotlight Africa’s agricultural priorities and elevate the continent’s voice on the global stage, serving as a precursor to the prestigious World Food Prize that will hold in the United States. It is set to take place on October 7 and 8 at the Presidential Villa in Abuja, Nigeria.

At a virtual press conference recently, Idris Ajimobi, senior special assistant to the President on Livestock Development, emphasised that the government is intensifying its efforts to transform Nigeria’s livestock sector-a critical pillar for food security, employment generation, and economic diversification.

These efforts, he said, are being spearheaded by the Federal Ministry of Livestock Development (FMLD).

A cornerstone of this transformation, he noted, is the recent launch of the National Livestock Master Plan (N-LMP), a five-year strategic investment framework.

Developed in collaboration with the Livestock Productivity and Resilience Support Project (L-PRES) and international partners, the plan seeks to attract public and private investments into key livestock value chains, including cattle, poultry, and small ruminants.

According to Ajimobi, it also outlines targeted interventions in animal breeding, health services, and market access.

He noted that the government is actively promoting the development of ranches and integrated crop-livestock settlements as part of efforts to move away from traditional nomadic grazing.

‘This transition to sedentary farming systems is not just about improving productivity,’ he said, ‘it is also a deliberate strategy to reduce conflict over grazing land.’

To improve the safety and traceability of livestock products, Ajimobi revealed that the ministry is implementing a national mass animal tagging programme, aiming to identify and track millions of animals across the country.

‘This, along with enhanced veterinary services and the control of transboundary pests, is expected to significantly improve animal health standards and help Nigeria meet international export requirements.’

In addition, he highlighted the government’s focus on reducing poverty and creating jobs-particularly for youth and women-through targeted training and support programmes.

Speaking on the upcoming AAD 2025 programme, Richard-Mark Mbaram said, ‘The Africa Agriculture Dialogue 2025 is an event that takes place prior to the World Food Prize every year, and basically sets out to capture narratives and conversational issues that relate to Africa and project them on the world stage.’

The World Food Prize, he said, is the Nobel of Agriculture. ‘It is a gathering of all stakeholders in the agricultural sector worldwide.’

Education is the cornerstone of every nation’s development, serving as a powerful tool for economic growth, social stability, and innovation.

In Nigeria, strengthening the education sector is vital for long-term, sustainable progress. The fundamentally broken Nigeria’s education, would not heal on its own except some urgent and drastic actions are taken.

Experts believe that as the country faces evolving economic, social, and technological challenges, empowering educational institutions, educators, and learners has become more urgent than ever.

According to the Nigerian Economic Summit Group (NESG) report, ‘Nigeria’s unemployment rate stood at 5.3 percent in the first quarter of 2024, representing a third consecutive increase since the second quarter of 2023.

However, the underemployment rate fell from 12.3 percent in 2023 third quarter in 10.6 percent in 2024 quarter one.’

Hence, they argue that by investing in quality teaching, infrastructure, innovation, and inclusive policies, Nigeria can build a resilient education system that not only addresses today’s needs but also prepares citizens for the global workplace.

Jessica Osuere, chief executive officer at RubiesHub Educational Services believes Nigeria needs competence-based education system to upskill students for future-work ready.

‘Our education has been highly theoretical even in the sciences and technology, that’s why you see someone studying engineering that cannot couple engines.

‘Empowering the youngsters with practical skills will lead to innovations, creation of more jobs and eradicate poverty in the country,’ she said.

No society would discount the importance of education and investing in their future, but, in Nigeria, the teaching workforce is under pressure like never before: comparatively low pay, insufficient teaching resources, and increased class sizes, among others.

Many teachers besides, poor remuneration and lack of teaching resources, are faced with persistent issues of salaries delay.

Nubi Achebo, director of academic planning at the Nigerian University of Technology and Management (NUTM), said delaying teachers’ salaries has negative impact on learning outcomes.

Achebo reiterated that when teachers are not paid on time, it affects their motivation, attendance, and overall teaching quality such as poor lesson preparation, students’ poor performance, poor classroom attendance and lack of practical learning, among others.

‘Teachers may not be motivated to prepare well-structured lessons, leading to a decline in teaching quality. Besides, irregular salary payments can result in students performing poorly in exams due to inadequate teaching and lack of resources.

‘Delayed salaries might limit the implementation of practical learning experiences, such as study tours, which are essential for students’ development; and teachers may not attend classes regularly, disrupting the learning environment and impacting students’ academic progress,’ he said.

To ensure long-term, sustainable impact, there is a need to reinforce the foundations of Nigeria’s education system.

This involves not just investment in infrastructure, but also reforms in policy, curriculum, teacher training, and governance. Strengthening these institutions is not merely a national priority, it is a generational necessity.

Busayo Aderounmu, a senior lecturer at Covenant University, Ota, Ogun State, expressed concerns that Nigeria’s education institutions, especially public ones, lack adequate facilities and funding.

‘There should be more funding for research and the provision of critical infrastructural facilities and equipment. Educators should also be receiving training from time to time to make them on par with their counterparts across the globe, and their welfare should be prioritised.

‘The world has gone beyond theories taught in the classroom, so curriculum needs to be improved to accommodate the practical aspect of the subject taught,’ she said.

Victor Odumuyiwa, senior lecturer at the Department of Computer Sciences, University of Lagos (UNILAG), Akoka, emphasised that Nigeria need capacity building in tech skill for the youth to compete at the global level.

‘The most important thing is capacity building; the opportunities are huge. The government should put in place initiatives to support people that want to learn.

‘The government funds create the platform for upskilling of its citizens by looking out for competent organisation to anchor the training, and give opportunity to people to be upskilled,’ he said.

Kingsley Moghalu, president of the Institute for Governance and Economic Transformation asserted that Nigeria’s education system must be tailored to drive human capital development in order to be globally competitive.

‘Nigeria is urgently in need of educational policy that can enhance its human capital, make it globally competitive, and bolster its standing within the global community.

‘This kind of education must prioritise access and quality by emphasising literacy, skills and national values. Our country has suffered a massive, progressive collapse of values over the past several decades,’ he said.

Moghalu emphasised that Nigeria must put skill development right at its centre. ‘Education must go beyond rote memorisation of facts to helping learners acquire various forms of skills that make them form a formidable human capital for the nation,’ he noted.