Category: Business Day

An unconfirmed number of people have died in a tanker fire accident that broke out around 1am on Friday along the Abeokuta-Sagamu Expressway in Ogun State.

Babatunde Akinbiyi, spokesperson for the Ogun State Traffic Compliance and Enforcement Agency (TRACE), said the incident occurred after a 33,000-litre petrol tanker overturned due to excessive speeding and spilt its contents on the highway. The impact of the crash triggered a fire that spread to nearby vehicles and electric poles, destroying a truck, a tow vehicle, and a power cable supplying electricity to Mowe and surrounding communities. ‘Though the casualty figures cannot be ascertained presently, rescue and emergency services made up of TRACE, Ogun State and Nestlé PLC Fire Service, FRSC, and the Police are still on the ground to restore normalcy and orderliness after quenching the fire and carrying out the decantation process,’ Akinbiyi said.

He added that traffic in the area had been diverted to a single lane as responders worked at the scene, urging motorists to remain calm and cooperate with diversions and rerouting put in place by TRACE, the police, fire service, FRSC, Amotekun, and the NSCDC. ‘Any inconveniences as a result of this unfortunate incident are highly regretted,’ he said.

Umar Namadi the governor of Jigawa State has commissioned a solar electrification project at the Dutse Ultra-Modern Market, fulfilling his administration’s pledge to provide clean and reliable energy to traders.

The project, executed by the Jigawa State Economic Empowerment and Youth Employment Agency, connects 300 shops to power from solar panels installed within the market, with each shop also fitted with a solar-powered ceiling fan at no cost.

Speaking at the official unveiling ceremony at the market on Thursday, the governor said the initiative would ease business operations, reduce expenses, and boost the profitability of traders. ‘Today, by the power and mercy of Allah, we have been able to fulfill the promise we made a year ago that we would provide the shops in Dutse Market with electricity powered by solar energy,’ he said.

‘Three hundred shops have each been connected and provided with solar-powered fans. This will ease business activities, and by the grace of Allah, increase the profits of traders as they will no longer pay electricity bills and will enjoy uninterrupted supply.’ Part of the project, the installation of the solar grid, was inaugurated last year by Vice President Kashim Shettima during an official visit to the state, and the state government had at the time promised to extend connections to individual stalls.

The governor further pledged to install solar streetlights in the market to enhance security, and highlighted other measures to support businesses in Jigawa, which include facilitating the establishment of a Bank of Industry (BOI) branch in the state and signing an MoU with the bank, through which the state government injected N4 billion to support small-scale enterprises.

Governor Namadi further urged entrepreneurs and traders in the state to take advantage of this facility and access the funds available through the BOI to expand their businesses. In his remarks, Yahaya Ibrahim, Chairman of Jigawa State Traders’ Association, expressed appreciation to the governor for providing the market with solar power and for the various empowerment programmes extended to traders, adding that the market electrification project was only the beginning of Governor Namadi’s planned interventions for traders in the state.

In a display of corporate social responsibility, Purch Gadgets marked Nigeria’s 65th Independence Day with a free medical outreach and feeding initiative for residents of Medical Road and surrounding communities in Ikeja, Lagos State.

The event, which drew more than 500 residents, featured free medical check-ups, including blood sugar and blood pressure tests, alongside the provision of medication for patients.

Henry Nnadike, CEO of Purch Gadgets, said the initiative stemmed from the company’s passion to give back to the community since its establishment in 2015.

‘We’ve discovered that people don’t prioritise their health, and many are too busy to visit hospitals for check-ups. Our goal is to make a positive impact on the lives of Nigerians, and today’s event is a testament to that commitment,’ he said. Many residents expressed gratitude for the outreach, with some diagnosed with hypertension and diabetes receiving free medication and counselling on managing their conditions. The initiative also raised awareness on the importance of regular health checks and preventive care.

In addition, Purch Gadgets provided meals for more than 500 less privileged members of the community. The feeding programme, aimed at supporting those in need, brought joy and relief to participants.

The company also used the occasion to launch its new cassette air conditioner, designed to consume low energy and address Nigeria’s energy challenges. Nnadike emphasised that Purch Gadgets’ mission is to integrate technology with sustainable energy efficiency.

Renowned entrepreneur Cletus Uzoezie Oragwa, founder of Zenco Group, unveiled the product and congratulated Purch Gadgets on its achievement, wishing the company greater success.

The event concluded with the distribution of food items to residents, reinforcing Purch Gadgets’ commitment to corporate social responsibility and its drive to make a tangible difference in Nigerian communities.

Terra Academy for the Arts (TAFTA) and the Mastercard Foundation have trained about 50,000 youths in theatre and creative arts.

Joseph Umoibom, Academy Lead at TAFTA, while speaking at the TAFTA Action Learning Project (TALP-X), stated that with the support of the Mastercard Foundation, TAFTA has trained approximately 50,000 youths across Lagos, Ogun, and Kano States.

‘Many of our participants have never stood on such a platform before. To now see them write, script, and perform their own productions on Nigeria’s biggest theatre stage is proof of their boldness and growth,’ Umoibom said.

He described the initiative as a celebration of talent, creativity, and teamwork, while highlighting the scale of the impact.

The creativity and achievements of young Nigerians trained in theatre and the creative arts were deployed through two original plays written and performed by Nigeria’s rising creative stars. The second play was performed by 400-level LASU students in the Department of Theatre and Creative Arts.

Speaking at the event, Afeez Oyetoro, Head of the Department of Theatre Arts at LASU, underscored the importance of bridging academic learning with real-world stage experience.

‘TAFTA gives them the opportunity not only to learn theory, but also to experience professional stage performances. There’s a difference between having talent and having proper training, and that is what they are gaining here,’ Oyetoro said.

The event also featured inspiring stories from TAFTA alumni who are already leaving their mark on the Nigerian creative space. Happiness Adegbite, now an actor, filmmaker, and content creator, shared how the academy transformed his directionless beginnings into a purposeful career.

‘TAFTA gave me structure. I went on to produce Broken Korean Steel Corridor, Letter to My Father, and The Last Boss to Freedom. Today, I mentor others, speak at career summits, and have even received recognition from the U.S. government. TAFTA made me believe the sky is only the starting point.’

Iluyasi Faith, a visual artist who transitioned into animation and digital arts, said, ‘I discovered TAFTA on Instagram, and what caught my attention was that it was free.

‘I stayed consistent and today I’ve built a brand that inspires young women by combining arts and entrepreneurship. TAFTA and Mastercard Foundation gave me that platform,’ she said.

Peter Friday, an aspiring filmmaker, emphasised TAFTA’s role in shaping his career, ‘I’ve always loved performing arts, but TAFTA gave me the structure and blueprint to create. My vision is to tell impact stories that not only entertain but also educate and resonate with society.’

Salma Hamlina, who overcame stereotypes to build an art business, said, ‘My experience at TAFTA was transformative. I now see myself not just as an artist, but as a businesswoman empowering other women.

‘Women’s stories and skills are vital in building a richer, more inclusive creative economy. Your talent is your power, don’t let anyone tell you otherwise,’ she noted.

The Independent National Electoral Commission (INEC) last Thursday hosted a European Union (EU) Follow-Up Mission to review progress on recommendations made by the EU Election Observation Mission (EU-EOM) following Nigeria’s 2023 General Elections.

Receiving the delegation, Mahmood Yakubu, Chairman of the Independent National Electoral Commission (INEC), said the Commission welcomed the EU’s sustained engagement with Nigeria’s electoral process, noting that this was the first time a sitting INEC Chairman would host such a follow-up mission.

Yakubu recalled that in previous years, INEC had received EU Chief Observers, including Santiago Vincenzo in 2017 and Maria Karina in 2022. He commended the EU’s consistency in monitoring Nigeria’s elections since 1999, describing it as a key partner in electoral reform.

On the 2023 EU-EOM report, Yakubu explained that the Mission had made 123 recommendations, out of which 10 were directly addressed to INEC.

He disclosed that the Commission had already implemented administrative actions on several of the recommendations and was working with stakeholders on those requiring broader reforms.

‘Some recommendations require constitutional amendments and legislative action, while others call for collaboration with political parties, civil society, the judiciary, and the media,’ the INEC Chairman said.

‘We have acted on those within our administrative purview, and we await ongoing discussions on legal and policy reforms with the National Assembly.’

Yakubu emphasised that INEC had published its own comprehensive review of the 2023 elections and that both reports were available on the Commission’s website. He stressed that electoral reforms remained urgent, particularly as preparations for the 2027 General Elections gather momentum.

‘We look forward to the National Assembly’s consideration of strategic electoral reforms. Without clarity in the law, we cannot finalize regulations, guidelines, or training manuals for future elections,’ he stated.

Speaking on behalf of the EU delegation, Barry Andrews, member of the European Parliament and Chief of Mission for the EU Follow-Up Mission, said the EU was impressed by Nigeria’s efforts to implement the recommendations despite constitutional and time-related constraints.

Andrews noted that the EU deployed one of its largest observation missions for the 2023 polls, underscoring Nigeria’s importance in Africa and globally. ‘We are here to review progress, to listen, and to share international best practices that strengthen democracy,’ he said.

He added that while significant steps had been taken, further work was required, particularly on constitutional reforms, transparency in result publication, and inclusivity in the electoral process.

‘We acknowledge that many reforms require legislative and constitutional changes, which are complex. But we are encouraged by the level of engagement and progress already recorded,’ Andrews said.

The EU delegation, which has been in Nigeria for the past three weeks, will continue consultations with stakeholders including civil society, political parties, and the media before concluding its mission.

Both INEC and the EU reaffirmed their commitment to deepening Nigeria’s electoral credibility ahead of the 2027 polls, stressing that international observation remains a vital tool for improving electoral standards and democratic governance.

Indian businesses have established a strong presence across Africa, with investments spanning telecommunications, energy, real estate, retail, and manufacturing. The continent’s growing markets have attracted long-term commitments from Indian entrepreneurs who now play a vital role in job creation, infrastructure development, and cross-border trade.

In 2025, several Indian business giants stand out for both their personal fortunes and the companies they have built. These firms are not only central to India’s global economic footprint but also integral to Africa’s growth story, influencing industries that touch millions of lives.

This report identifies seven of the richest Indian business giants in Africa, their latest estimated net worth, and the companies underpinning their wealth.

Prateek Suri – Maser Group and MDR Investments

Prateek Suri, born in 1988, is recognised as the youngest and richest Indian businessman in Africa in 2025, with an estimated net worth of $1.9 billion. He founded Maser Group in 2012, focusing on affordable smart televisions and electronics. By 2024, Maser had sold over 800,000 units across Africa and reached a valuation of $5 billion before being acquired by SCG Asia.

Following this success, Suri launched MDR Investments, a venture capital firm investing in infrastructure, mining, and emerging technologies across Africa. Through the Maser Foundation, he also partners with governments and NGOs to support development in underserved regions.

Anil Agarwal – Vedanta Resources

Anil Agarwal, founder and chairman of Vedanta Resources, is one of the most influential Indian billionaires with major operations in Africa. Born in 1954 in Patna, India, Agarwal built his metals and mining empire into a global powerhouse.

In Africa, Vedanta is a key player in Zambia’s copper industry through its 80% ownership of Konkola Copper Mines, employing thousands and contributing significantly to the local economy. As of 2025, Agarwal’s fortune is estimated at $1.6 billion, and Vedanta continues to expand its footprint in natural resources across the continent.

Savitri Jindal and Family – O.P. Jindal Group

Savitri Jindal, India’s richest woman, and her family oversee the O.P. Jindal Group, valued globally at around $12 billion, with a strong African presence through Jindal Africa, headquartered in Johannesburg.

The group runs major mining and energy projects including the Kiepersol Colliery in South Africa, the Chirodzi coal mine in Mozambique, and the Mmamabula Energy Project in Botswana, with further interests in Namibia, Cameroon, Zambia, and Tanzania. These ventures cement the Jindals as one of the most influential business families shaping Africa’s steel, mining, and energy sectors.

Sunil Vaswani – Stallion Group

Sunil Vaswani, chairman of Stallion Group, leads one of the largest Indian-owned conglomerates in Sub-Saharan Africa. Founded in 1969 and headquartered in Dubai, Stallion Group operates across 18 countries, employing more than 285,000 people.

Its businesses span automobile assembly, food processing, commodities, steel, real estate, logistics, and shipping. In Nigeria, Stallion revived local auto assembly, rolling out Nissan, Hyundai, and Volkswagen models. The group also dominates in rice milling and FMCG distribution.

Forbes estimated Vaswani’s fortune at $1.6 billion in 2020, while the Sunday Times Rich List placed it at £1.159bn in 2021. Today, Stallion generates an estimated $4 billion in annual revenue, much of it from Africa.

Sudhir Ruparelia – Ruparelia Group

Ugandan billionaire Sudhir Ruparelia is the founder of the Ruparelia Group, Uganda’s largest private conglomerate. His empire spans real estate, hospitality, finance, insurance, education, and floriculture.

Born in Kabatoro in 1956, Ruparelia became Uganda’s first billionaire in 2014. His flagship properties include the Speke Resort Convention Centre, which hosted the Non-Aligned Movement and G-77 summits in 2024, and Arie Towers, a commercial complex in Kampala.

As of November 2023, his net worth was estimated at $1.2 billion, cementing his position as East Africa’s richest Indian entrepreneur.

Bhimji Depar Shah – Bidco Africa

Bhimji Depar Shah, born in Mombasa in 1931, is the founder of Bidco Africa, East Africa’s largest consumer goods manufacturer.

Bidco produces more than 40 household brands in edible oils, fats, detergents, hygiene products, and beverages. Popular brands like Kimbo and Elianto remain household staples in Kenya and beyond.

With operations in 17 African countries and over 25,000 employees, Bidco Africa continues to dominate the FMCG sector. As of 2025, Bhimji Depar Shah’s family is worth an estimated $700 million.

Manu Chandaria – Comcraft Group

Manu Chandaria, chairman of Comcraft Group, is one of Kenya’s most respected industrialists. Founded in Nairobi in the 1960s, Comcraft has grown into a multinational with operations in 40 countries, specialising in steel, aluminium, and plastics manufacturing.

The group records revenues of over $2 billion annually and employs more than 30,000 people. Chandaria, also renowned for his philanthropy through the Chandaria Foundation, supports education, healthcare, and community development across Africa.

Imagine entering your office tomorrow and discovering that half the processes you once did manually are now handled by artificial intelligence (AI). From screening job applicants to monitoring employee engagement, the future of work is already here, and Nigeria is no exception.

This is the reality painted by the Talent Management Report 3.0 (TMR 3.0), released last week by Phillips Consulting Limited (pcl.). Based on insights from over 500 professionals across multiple industries, in-depth interviews, and benchmarking research, the report uncovers how AI is reshaping how Nigerian organisations attract, develop, and manage their people. The findings are both promising and sobering.

Nigeria is Waking Up to AI, But Slowly

AI adoption is accelerating globally, but in Nigeria, most organisations are still at the shallow end of the curve. According to the report, 88% of organisations are only experimenting with AI, running pilots and small projects, without embedding it into their business strategy. Only 11% have a company-wide AI strategy.

This indicates that, although awareness is high, bold action remainsrare. Organisations see the potential, but many are cautious, sometimes overwhelmed by the complexity or costs of scaling AI.

AI is an Opportunity, Not Just a Threat

One of the most surprising findings is how Nigerian employees perceive AI. Despite fears often portrayed in the media, 72% of professionals view AI as an opportunity, a tool that can enhance productivity, create new roles, and support career growth.

Still, the concerns are real. 24% worry about job losses, and 35% in sectors like oil and gas remain uncertain about what AI means for their future. This mix of optimism and anxiety signals the need for transparent communication and proactive workforce planning.

Where AI is Already Making a Difference

Across industries, some HR functions are emerging as early winners in AI adoption:

Recruitment (42%): AI is streamlining candidate screening, matching CVs with job profiles, and reducing hiring time.

Learning and Development (36%): AI tools are recommending personalised training, helping employees upskill faster.

Career Development (29%) and Performance Management (22%): These are evolving quietly but cautiously due to concerns about fairness and bias.

Retail and e-commerce, for example, are training employees on AI basics but have yet to commit significant budgets. Telecoms struggle with leadership alignment, while Professional Services are clearly ahead, driving job redesign and reskilling.

The Barriers: What’s Stopping Organisations?

If the potential is clear, why aren’t more companies moving faster? The TMR 3.0 identifies four critical obstacles:

Low AI literacy and inadequate training

Data privacy and security risks

High training costs

Limited leadership commitment

In fact, while 73% of organisations say awareness is high, only 39% rate themselves as truly AI-proficient. This ‘knowledge gap’ is one of Nigeria’s biggest challenges in the global competitiveness race.

The Call for Strategic Action

The report makes one thing clear: AI in the workplace is not a passing trend. It is a transformative force. However, success will depend on how Nigerian leaders act now.

Here are some of the strategic moves highlighted:

1. Upskill employees continuously, not with generic courses but practical, role-specific AI training.

2. Prioritise data ethics and privacy, because trust is the currency of digital work.

3. Move from experiments to enterprise strategies, scaling AI beyond pilots into core business functions.

4. Keep HR human, let AI handle routine tasks while leaders focus on empathy, coaching, and culture.

Why This Matters for Nigeria’s Future

For Nigeria, AI is more than a technology shift. It is an opportunity to shape a more inclusive workforce. If used responsibly, it can help address long-standing challenges, such as making recruitment fairer, providing employees with greater access to learning at scale, and creating new forms of work. However, ignoring it carries real risks. Workers may be displaced, inequality could widen, and organisations may struggle to compete in a digital-first economy.

A Turning Point for Leaders

The TMR 3.0 comes at a pivotal moment. The report doesn’t just present data; it provides a mirror for Nigerian organisations. It challenges leaders to ask:

Are we preparing our people for the future, or leaving them behind?

Are we investing in AI responsibly, or just experimenting?

Are we keeping talent at the heart of our digital strategy?

For HR leaders, CEOs, and policymakers, these are not abstract questions; they are urgent. The future of work is already here. The only question is whether we are ready for it.

BrandTell Business Network (BTN), a thriving coalition of over 400 brand owners across various industries in Nigeria, is set to revolutionise the way small business operators connect with potential customers through its BTN Sales Season 4.0

The event, themed ‘The Ultimate Shutdown,’ promises to deliver an electrifying three-day shopping and networking experience from November 21st to 23rd at the Ikorodu Ferry Terminal in Ebute, Ikorodu, Lagos.

Adenike Fagbemi, executive director of BrandTell Nigeria – the umbrella media and public relations of BTN, emphasised the unique opportunities that BTN Sales Yakata Season IV offers brands and SMEs looking to reach a broader audience, increase visibility, and drive sales.

‘We are thrilled to organise this event, providing a valuable platform for brands and SMEs to thrive. Our goal is to empower businesses with the tools and resources they need to succeed in today’s competitive market,’ she stated.

This year’s edition of the legendary sales event will not only serve as a platform for networking and establishing brand loyalty but also as an opportunity for exhibitors to develop innovative marketing strategies for their products.

‘Whether you’re coming for the incredible bargains, to showcase your brand, or to connect with industry leaders, BTN Sales Yakata 4.0 is your golden ticket,’ Adenike added.

In addition to fostering connections and promoting brand growth, BTN Sales Yakata Season IV reflects BrandTell Nigeria’s unwavering commitment to supporting business owners in advancing their entrepreneurial ventures and connecting more effectively with potential clients.

Attendees will have the opportunity to engage with products firsthand and provide immediate feedback on the diverse range of items on display.

BTN Sales Yakata Season IV promises to be an unforgettable celebration of Nigerian entrepreneurship and innovation.

For more information on participation, sponsorship opportunities, or media inquiries, please contact BrandTell Nigeria via their Instagram and Facebook channels.

BusinessDay Maritime Conference ‘Strengthening Nigeria’s Maritime Business: Bridging Policy Gaps and Optimising Global Competitiveness,’ on 30th September convened a who’s-who of shipowners, regulators, lawyers, port operators and freight forwarders to confront a blunt truth: Nigeria’s maritime promise is real, but the system that should turn that promise into jobs, exports and revenue is fragmented – and running out of runway.

Frank Aigbogun, Publisher/CEO of BusinessDay, set the tone in his opening: ‘Nigeria’s maritime sector is not a side note to our economy.’ He urged delegates to stop talking about potential and start converting assets into measurable economic value.

Keynote: law, policy and a hard look at implementation

Mfon Usoro, national president, Chartered Institute of Logistics and Transport Nigeria, delivering the keynote address

Mfon Usoro, president, Chartered Institute of Logistics and Transport (CILT) Nigeria, in her keynote address, set the tone with the masterfully crafted theme, ‘Bridging Policy Gaps and Advancing Maritime Competitiveness: A Roadmap for Nigeria’s Future.’ Her central argument: Nigeria already has many of the policies it needs; the gap is implementation.

She laid out a simple taxonomy of maritime business: ship ownership and operations at the centre, surrounded by maritime technology, seafaring manpower, ports and logistics, and supporting services (finance, law, insurance). ‘It is the crux of the matter. All the other ones around it operate around the main shipping itself,’ she said.

On indigenous shipping, she was pointed and practical. Recalling the Obasanjo government’s ill-fated fleet purchase, she warned that ‘operation of a ship profitably is not like buying a car. You have to prepare the structure, the manpower, the marketing assessment, everything before you buy the ship to ensure the sustainability of the business.’

She rejected the narrative that Nigeria lacks policy: ‘I don’t agree that we don’t have policies. We have a lot of policies,’ she said, citing the Nigerian Maritime Administration and Safety Agency (NIMASA) Act (2007) and the legal instruments that create incentives for Nigerian ownership (national-carrier status with 60% Nigerian ownership and 70% Nigerian officers, for example). Her challenge to the room: after enactment, where is the delivery?

She backed that diagnosis with market numbers: Q1 2025 merchandise trade stood at ?38.30 trillion, of which crude accounted for ?11.90 trillion – ‘there’s cargo outside of crude,’ she emphasised – and the Nigerian Ports Authority (NPA) recorded 4,100 seagoing vessel calls in 2021, none flying the Nigerian flag.

Goodwill messages: private sector, states, and forwarders weigh in

The conference threaded practical examples through policy prescriptions.

Representing NLNG Shipping and Marine Services (NSML), Ladu spoke for the group and for the absent managing director, Abdul Khadir Ahmed, stressing that policy must translate to technical capacity. NSML runs 13 vessels for clients and maintains a Maritime Centre of Excellence in Bonny – a model, he said, of deliberate domestic skill development: ‘With the right policy and the right skill set we can actually do it as a country.’

Anambra State’s commissioner for Transport, Patricia Igwebuike, pitched a subnational perspective. She called Onitsha River Port a priority and urged inter-agency collaboration and capacity building: ‘It’s not just that you have a river port. You must get the capacity building, the training, and the interaction with others in the sector.’

From the freight-forwarding community, Godfrey Emeka Nwosu, general secretary, National Association of Government Approved Freight Forwarders (NAGAFF), speaking for Tochukwu Ezisi, president, NAGAFF, said the sector’s future will be defined by ‘digital transformation, regulatory harmony and empowerment of local operators,’ urging professionalism, transparency and partnership between government and private operators.

The fleet gap and the cargo guarantee that never arrived

Usoro had earlier, in her keynote address, exposed the fatal flaw in Nigeria’s national-carrier policy: political promises of cargo guarantees were never operationalised. She recalled the Nigerian Fleet Committee effort (with private entrepreneurs and foreign partners ready to take minority shares) – and the dealbreakers: ‘Where is the cargo?’ potential partners asked.

The NIMASA Act’s Section 36, she said, anticipates this by guaranteeing cargo (a minimum share of federal, state and local government cargo, 50% of dry and liquid bulk, and 50% of international aid cargo) for vessels granted national-carrier status. But she cut to the core: ‘The ministry could not give this guarantee because they don’t own cargo. NIMASA does not generate cargo.’ In short, legal guarantees exist on paper; the operational plan – cross-ministerial, cross-agency cargo allocation and fiscal incentives – does not.

Logistics performance and the ‘whole-of-government’ fix

Usoro weaponised data to press the point. Nigeria ranks 88th of 139 on the World Bank Logistics Performance Index (LPI), with low scores across customs efficiency (2.6), infrastructure (2.4), international shipments (2.5), logistics competence (2.3), tracking (2.7) and only relative strength in timeliness (3.1). ‘Isn’t that a shame?’ she asked.

Her prescription: a whole-of-government approach. The Ministry of Marine and Blue Economy cannot run the show alone. ‘The silo approach does not work. It has to be a Nigerian project, not a NIMASA project,’ she said – demanding ministerial coordination, integrated budgets and enforceable implementation committees that include finance, works, ports, customs, immigration and state and local governments.

Regulation, taxes and enforcement: a legal voice

The keynote-author and legal veteran returned to practical fixes: cut the number of agencies operating in ports (more than the eight authorised is a routine violation), reduce punitive taxes on shipowners and replicate aviation’s spare-parts exemptions for shipping: ‘It is not rocket science. shipping deserves the same treatment – zero importation tax,’ she insisted. ‘We must reduce the number of agencies at the ports and enforce discipline.’

Panel 1 – policy and infrastructure: the central diagnosis

Moderated by Kenneth Jukpo, managing director, JUKKEN Consults Limited, the first plenary brought together environmental, legal and operational lenses.

Speakers decried that many planned Inland Container Depots (ICDs) remain dormant. The Dala ICD, in Kano State, for example, ‘could produce a capacity twice the size of Apapa’ but customs have refused to resume operations there. ‘Who is Customs to say they will not resume in Dala?’ the speaker demanded – another illustration that policy without enforcement is paper.

On funding, a panellist noted successful precedents: Seychelles’ blue bond quickly mobilised capital and accelerated its blue economy; and the Lagos-Calabar coastal road financing showed that when political will, institutional support and a clear infrastructure objective align, external funding follows. The ask: shift from drafting more policy to unlocking capital via coordinated, bankable project packaging – blue bonds, Multilateral Development Banks (MDB) financing, bonds for ports and port-linked infrastructure – and empower agencies to raise finance with Ministry of Finance buy-in.

Sustainability and carbon opportunity

Felicia C. Mogo, president, African Marine Environment Sustainability Initiative (AFMESI), stressed that environmental, social, governance (ESG) is no longer optional: ‘ESG – environment, social and governance – is now what is ruling the world.’ She urged pollution controls, community inclusion, and marine-habitat protection (mangroves, seagrass, peatlands). Absent environmental integrity, she warned, grants and green finance will not flow.

On decarbonisation, the panel argued Nigeria is well placed – its crude is relatively low-sulfur – but ports must be upgraded to handle low-sulfur fuels, provide scrubber waste management, and adopt standards for vessel fuel use. One panellist who had participated in International Maritime Organisation (IMO) efforts urged Nigeria to explore carbon capture, utilisation and storage (CCUS) and emissions trading pathways: ‘We can capture carbon, utilise what is useful, and then safely store the rest in abandoned oil wells and geological formations across the country,’ he said. He also flagged mangroves – Nigeria’s mangrove forests are a global asset and a potential source of nature-based credits and debt-for-nature swaps.

Panel 2 – the single window, port community systems and digital hygiene

The second plenary, moderated by Samuel Dayo Ebidunmi (MICS), Chartered Shipbroker and Maritime/Supply Chain consultant, turned from bricks and mangroves to bytes and Application Programming Interface (APIs).

‘If you deploy technology on an inefficient system, you simply amplify inefficiency,’ Gbotolorun Babatunde Ayodele, GM, ICT, Nigerian Ports Authority, said, and added a crucial caveat: technology is an enabler, not a cure.

NPA’s current information communication technology (ICT) projects include gated access and closed-circuit television (CCTV) pilots at truck transit parks; vessel tracking and plans for Vessel Traffic Services (VTS); an electronic berth allocation system; and revenue transparency tools.

But the big game-changer, he said, is the National Single Window (NSW) – a federal platform to streamline document exchange – and the NPA’s Port Community System (PCS), which will give stakeholders shared visibility over cargo flows.

‘Information sharing and integration are key. Stakeholder resistance must be broken,’ he said, listing constraints: budget, power supply, training and legal recognition of electronic documents. His operational approach: build NPA’s internal infrastructure first, then scale integrations and system-to-system APIs rather than manual portal-by-portal access.

Port state control, security and data

Richard Olabi (speaking for Sunday Umoren, secretary general, Abuja MoU on Ports State Control) linked safety, security, environment and crew welfare. ‘Without ships, there can be no ports,’ he said. He argued that security threats across West and Central Africa have pushed up freight rates and underlined the need to harmonise port state control. He pointed to NIMASA’s C4I system at Kirikiri – integrating Automatic Identification System (AIS) for real-time maritime domain awareness – and urged alignment with NPA’s Vessel Traffic Service (VTS) for secure navigation and inspection workflows.

Freight forwarders: the single window is existential

Kingsley Igwe, registrar/CEO, Council for Regulation of Freight Forwarding (CRFFN) in Nigeria, made the clearest business case for digitalisation: ‘Everything that goes wrong in the supply chain translates directly into cost. It affects the price of goods in the market, and ultimately every Nigerian citizen.’ He positioned the national single window as Nigeria’s must-do reform: it reduces human interfaces, blocks illegal charges and enables importers/exporters to transact with regulators from a single entry point. He invited stakeholders to nationwide sensitisation events (noting an October session) and pushed for integration between NSW and the Port Community System (PCS).

Igwe also argued for professionalisation: licensing freight forwarders, haulage firms, warehouse operators and customs brokers to remove unqualified actors from the system. ‘Freight forwarding is a professional service,’ he said. CRFFN plans enforcement of licensing provisions ‘in the coming weeks.’

B’Odogwu vs Single Window – clearing up a live technical question

During QandA, a delegate asked about the practical difference between B’Odogwu (the customs electronic declaration platform) and the National Single Window. Kingsley clarified: B’Odogwu is customs-specific (harmonised system (HS) classification, duty calculation) and accessible to licensed customs brokers; the National Single Window is broader – it centralises permits and certificates from Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC), CRFFN and other agencies, and will eventually embed B’Odogwu functions so a trader can process all approvals from a single login.

Real problems, practical solutions

Speakers underlined a handful of concrete priorities:

Rail and inland logistics – ports like Apapa and Tincan are river ports hemmed in by urbanisation; only Apapa currently has meaningful rail; hinterland rail and ICDs (Inland Container Depots) must be revived to decongest terminals.

Modal balance – revive barge operations and integrate them with road and rail (Ports and Terminal Multiservices Limited’s (PTML) barge movements to Mile-2 were cited as a positive experiment).

Deep seaports – dredging Apapa to ever-deeper drafts is a losing game; the panel urged investment in naturally deep drafts (16m+) at sites such as Abia and Akwa Ibom to attract mega vessels and economies of scale: ‘If we want mega vessels that offer economies of scale, we cannot continue with ports whose drafts are capped at 13 metres.’

Legal and fiscal fixes – standardise customs procedures across ports, remove punitive taxes on shipowners, adopt stabilisation clauses in public-private partnerships (PPPs) and ensure community consultation and compensation frameworks.

Data and statistics – create a single source of truth for throughput, vessel calls, detention statistics, and cargo flows to support planning and enforcement: ‘If you don’t have the information, you cannot make the right decisions.’

Voices from the floor: inclusion, licensing and rolling out change management

Freight forwarders in the audience raised a practical and political point: they are routinely excluded from policy design despite being the operators who execute trade flows. ‘Nobody has considered how to empower the freight forwarder,’ one delegate said, calling for targeted funding and training so small- and medium-sized forwarders can buy the laptops, software and connectivity NSW will require.

Another delegate urged maximising inland waterways: ‘Let us use what we have to get what we want – jetty-to-jetty water movements can relieve roads today.’

A final practical exchange cut through to what matters: the NSW is near completion (panellists said ˜60% integrated), pilots are expected in the coming months, and legal recognition for e-documents (e-manifests, e-invoices, electronic bills of lading) must be fast-tracked. Kingsley estimated that the broad adoption of electronic documents could reduce logistics costs by up to 40%.

Closing: the ask is simple – execute, integrate, regulate

The conference closed on a procedural but symbolic note – a group photograph and a call to action from BusinessDay’s trade correspondent, Bethl Ujabi: the ‘most important part of today is the action that begins after now.’

Across plenaries, the prescriptions converged:

Stop treating maritime as a ministry project. Make it a national project with ministerial key performance indicators (KPIs) and cross-cutting budgets. ‘Whole-of-government’ was the conference watchword.

Fast-track the National Single Window and Port Community System – with legal recognition of e-documents, strong cybersecurity rules and an integration roadmap that prioritises API-to-API communication (not manual portals).

Invest in hinterlands and deep seaports rather than endlessly dredging shallow river channels.

Professionalise the supply chain through licensing, training and a freight-forwarder support fund so local operators can adopt digital freight models.

Make sustainability a funding lever – protect mangroves, pursue CCUS pilots and position Nigeria to capture nature-based credits and green finance.

Bottom line

The conversation at BusinessDay’s maritime conference was less about new ideas than about discipline: Nigeria is not short of plans or policies; what it lacks is coordinated execution, line-ministry ownership of outcomes, predictable finance and the digital plumbing to make the whole system visible and accountable.

If ministers, regulators and private investors can align, the payoff is tangible: more Nigerian ships in international trade, lower logistics costs, jobs in ship management and seafaring, and export-ready supply chains. If they don’t, the country will continue to watch foreign flags carry Nigerian trade and foreign ports reap the productivity gains.

As Mogo put it in a moment that cut through the policy layers to a political charge: ‘We have policy – now we must show the will to implement it.’ The rest, the delegates warned, will be earned – or lost – in the months after the conference.

Technology is advancing at an unprecedented rate, and terms like ‘machine learning’, ‘deep learning’, and ‘neural networks’ are no longer confined to research labs or Silicon Valley boardrooms. They are shaping how banks approve loans, how telcos manage customer churn, how oil and gas firms optimise drilling, and even how governments plan infrastructure.

For business executives and the general public, it is crucial to demystify these buzzwords. Understanding them doesn’t mean becoming a data scientist, but it does mean knowing enough to see opportunities, ask the right questions, and avoid costly mistakes.

What is machine learning?

Machine learning (ML) is the foundation of modern artificial intelligence. It’s about teaching computers to learn from data and improve over time without requiring explicit programming.

Using the banking sector as an example. A Nigerian bank handling millions of Naira transactions daily must constantly be vigilant against fraud. Instead of relying on static rules, such as flagging only large transfers, it should adopt dynamic approaches. Machine learning models can spot subtle anomalies, such as a customer suddenly making multiple small transfers late at night or unusual login behaviour from an unknown or foreign device. The system improves and becomes more effective the more transactions it analyses.

For executives, machine learning means transitioning from ‘rules-based’ systems to adaptive ones that evolve in tandem with the business environment.

What is deep learning?

Deep learning is a specialised branch of machine learning inspired by how the human brain processes information. The term ‘deep’ refers to the use of many layers of interconnected processing units. Each layer learns something more complex than the previous one.

Think of it like how a telco manages its vast customer base. A telecom operator with 50 million subscribers wants to predict which customers are likely to switch to competitors. A basic machine learning model might look at call frequency or data usage. However, a deep learning model goes further; it analyses dozens of data points, including network quality, customer complaints, payment patterns, and even social sentiment. With this, the telco can not only predict churn but also design tailored retention offers, saving millions of Naira in lost revenue.

For businesses, deep learning brings a significant change in what’s possible: automating tasks once thought to require human intelligence.

‘For business leaders, the importance of machine learning, deep learning, and neural networks lies in their potential to unlock efficiency and competitiveness.’

Neural networks explained

The engine behind deep learning is the artificial neural network (ANN). Modelled loosely on the human brain’s network of neurones, an ANN consists of nodes (neurones) connected by links. Each connection carries a weight, and as data passes through the network, these weights adjust, strengthening or weakening connections until the system produces reliable results.

In the oil and gas industry, neural networks are already being utilised to enhance exploration and drilling efficiency. Consider an upstream operator analysing seismic data. The data is massive and noisy, but neural networks can learn to detect subtle patterns that point to the presence of oil or gas reserves. The technology helps geologists reduce guesswork, saving millions in drilling costs and minimising environmental risks.

A simple way to think about neural networks is how children learn. If a child touches a hot stove, they quickly avoid it next time. Neural networks operate similarly; they ‘learn’ from errors and improve decisions over time.

Why these matter for business leaders

For business leaders, the importance of machine learning, deep learning, and neural networks lies in their potential to unlock efficiency and competitiveness. Companies that harness these tools can:

Automate repetitive processes, from banking compliance checks to telco billing queries.

Predict market trends by analysing vast volumes of structured and unstructured data.

Enhance customer experience through hyper-personalisation, tailored offers, and faster service.

Reduce risks through fraud detection in finance, predictive maintenance in telecoms, and drilling safety in oil and gas, among others.

At the same time, there are challenges, including data privacy concerns, ethical issues, high implementation costs, and the risk of overhyped expectations. Not every problem requires deep learning; sometimes simpler machine learning approaches work well.

The Human Element (Human in the Loop)

It’s easy to get carried away with the technical jargon, but ultimately, these technologies are tools. They don’t replace human judgement, creativity, or strategic thinking. Instead, they augment them. The best results come when executives combine human insight with machine-driven intelligence.

For example, a retail CEO doesn’t need to code a neural network, but they should know what to ask:

Do we have enough quality data to train an algorithm?

How will AI-driven insights affect customer relationships?

What guardrails do we need to ensure fairness and transparency?

Bottom line

Machine learning, deep learning, and neural networks are not abstract scientific concepts; they are practical tools shaping the present and future of business. From banks tightening fraud prevention to telcos retaining customers to oil and gas companies reducing exploration costs, the applications are tangible and measurable.

The key is not to fear the complexity but to engage with it. Executives who understand the basics will be better positioned to steer their organisations through the ongoing wave of digital transformation.

Just as electricity once transformed industries, intelligent systems powered by machine learning and neural networks are poised to do the same in our time. The question is: will your business adapt early and lead, or lag?