Category: Business Day

Calls for sweeping constitutional and institutional reforms to safeguard Nigeria’s democracy dominated the National Electoral Reforms Summit 2025, where political leaders and reform advocates warned that without urgent action, the 2027 elections may lack legitimacy.

The summit themed, ‘Critical Constitutional Amendments for Credible Elections in 2027’ and convened virtually by the National Consultative Front and the Labour and Civil Society Front, featured interventions from former Transportation Minister Rotimi Amaechi, former lawmaker Usman Bugaje, political economist Pat Utomi, former Education Minister Oby Ezekwesili, and Peter Obi, Labour Party’s 2023 presidential candidate.

Amaechi struck a pessimistic note, insisting that politicians in power would never willingly carry out reforms that weaken their hold on office.

‘There is absolutely nothing anybody can do about electoral reform in Nigeria under the present government,’ he said. ‘Politicians will not do that. Why would they, when politics has become a source of income for them? Electoral reform would mean taking power back to the people, so that votes can hire and fire. They don’t want that.’

Bugaje reinforced Amaechi’s warning, pointing to widespread electoral manipulation and judicial complicity. ‘This regime has shown that they are not even prepared to conduct an election,’ he said, citing recent polls in Kaduna where results were announced before ballots were cast.

‘The 2027 election as things stand is not going to be won or lost at the ballot box. It’s going to be won or lost on the streets of Nigeria. We must begin to organize to resist those who are hell-bent on staying in power irrespective of the votes Nigerians cast.’

Utomi, however, emphasised that the survival of Nigeria’s democracy depends on restoring legitimacy through credible elections. ‘A government that is perceived as lacking legitimacy will never be effective in governing,’ he said.

‘Legitimacy is earned when people believe elections reflect their will. If we do not do everything to ensure free and fair elections, everybody loses, including those who think they have power for the moment.’

Utomi also urged international pressure on Nigeria’s political class. ‘We should internationalise this problem to the point that our country could face isolation. Sadly, many of us helped bring Nigeria to pariah status in the past, but sometimes shame is necessary to pull back from the brink.’ He accused Nigeria’s legal profession of betraying democracy: ‘Nigerian lawyers are the shame of Africa. Judges have behaved like they didn’t go to school. We must not betray the essence of our professionalism for crumbs.’

Ezekwesili laid out a detailed framework for reform, stressing INEC’s financial and operational independence, mandatory electronic transmission of results, and stronger prosecutorial powers to punish electoral offenses.

‘Relying on the police and attorney-general for prosecutions has only rewarded bad behavior,’ she argued.

She also pressed for transparent appointment of INEC commissioners, expanded timelines for voter registration and candidate nominations, and stronger oversight of result collation.

The former minister criticised what she described as enabling ‘courtroom democracy.’ ‘Elections are being decided in court rather than at the polling station,’ she said.

‘That destroys the spirit of democracy. We need specialised electoral courts, automated systems for assigning cases to judges, and strict timelines for resolving disputes. Right now, elections have become an industry for the judiciary.’

For her, the ultimate solution lies in mass citizen action. ‘The political class does not care about a few elites talking about reforms. What they fear is when Nigerians themselves take ownership of the struggle for credible elections. For as long as our electoral system is a mess, it continues to destroy lives and futures. We must get citizens to say: this is the hill we are prepared to die on,’ she said.

Obi also lending his voice to the reform agenda. ‘This is a very critical thing that has to happen before our next election,’ he said. ‘Without a proper electoral system that can guarantee free and fair elections, our democracy will remain fragile.’

The former Anambra governor added the electoral reform should also discourage cross-carpet by politicians, proposing that any politician who jump party after winning election should lose his seat.

The summit ended with consensus that achieving meaningful reforms before 2027 will require citizen-driven pressure, civil society mobilisation, and a collective refusal to accept compromised elections as the norm.

Borno State Governor Babagana Zulum acknowledged the challenges the country has faced over the past six and a half decades, but emphasised that Nigeria has consistently emerged stronger. He called for continued unity, mutual understanding, and peaceful coexistence amongst its citizens.

Zulum congratulated President Bola Ahmed Tinubu and other Nigerians on Wednesday on the occasion of Nigeria’s 65th Independence Day Celebration.

The Governor commended President Bola Ahmed Tinubu for his leadership and continued support to the armed forces and other security agencies involved in counter-insurgency operations in the North East, particularly in Borno State. Zulum, in a statement he personally signed, also expressed commitment to providing peace and development to Borno, stating, ‘We will not rest. We will not be complacent. We will continue to work, strive more, and fight for a Borno where everyone can dream of a better life, every farmer can till their land, our industries can thrive, and every family can sleep in peace.’

Governor Zulum’s full statement below:

‘As we join our brothers and sisters across the country to mark the 65th anniversary of our independence. We celebrate the Nigerian nation’s freedom, unity, and resilience. But on this day, our reflections in Borno are particularly profound. Our journey has been uniquely tested, yet our hope remains unbroken.’

‘It is indeed worth celebrating 65 years of nationhood as an indivisible nation. Despite the threats of insecurity, such as Boko Haram, ISWAP, and other criminal elements, our gallant military officers and security forces are winning the battle. We must unite as a people to fight the common enemy.’

‘We remember with solemn gratitude the sacrifices of our gallant men and women in uniform, the military, the police, the Civilian JTF, and all security agencies who have paid the ultimate price to keep us safe. We honour the memory of our sons and daughters, fathers and mothers, who were lost to the insurgency.’

‘ Let me use this opportunity to commend President Bola Ahmed Tinubu for his leadership and continued support to the armed forces and other security agencies involved in counter-insurgency operations in the North East, particularly in Borno State.

‘Our primary and most sacred duty has been the restoration of peace and security. We adopted a multi-faceted approach, understanding that a purely kinetic solution is not enough.’

‘We have consistently and directly supported our security forces. From providing hundreds of operational vehicles, armoured personnel carriers, and sophisticated communication and other operational gadgets to consistently visiting difficult frontline locations, so that we ensure that our troops are motivated and better equipped to face the enemy. We have built and renovated accommodations for our security operatives, among many other supports.’

‘Peace cannot be complete without restoration. Therefore, we have undertaken the most ambitious resettlement programme in Nigeria. We have successfully closed all the official internally displaced persons (IDP) camps within Maiduguri Metropolitan Council, moving our people from a state of dependency to dignity and self-reliance.’

‘We have supported the safe and voluntary return of a significant number of our displaced population to their ancestral homes by providing them with livelihood packages. We have constructed thousands of resettlement houses across local government areas, providing shelter for returnees.’ ‘We have rebuilt critical infrastructure, including hundreds of healthcare centres, primary and secondary schools, ensuring that our children can learn and our sick can be treated in their communities.’

‘Dear Citizens of Borno, our vision extends beyond survival to prosperity. We are laying the foundation for a post-insurgency economy.

‘Our administration’s peacebuilding and recovery efforts are greatly succeeding. The integrated policies, designed to address the root causes of insurgency, build community resilience, and promote reconciliation, have been fruitful.

Trade and Commerce as a cornerstone, we have reestablished and upgraded to an international standard our cattle markets in Gamboru Nagal, Banki and the one in Kasuwan Shanu in Jere Local Government Area.’ ‘We are pursuing the establishment of the African Inter-Continental Free Trade Zone in Banki and a Dry Inland Port in Maiduguri. We have invested a lot of resources to support the federal government’s initiative of international operations at Muhammadu Buhari Airport. These, among other strategic plans we have drawn, will significantly boost the economy of our state and create several employment opportunities.’

‘Through our various empowerment schemes, we have provided startup capital, tools, and training to tens of thousands of our youths and women, turning them from victims into entrepreneurs and employers of labour.’

We have constructed and equipped modern and specialised hospitals, two nursing colleges, and recruited hundreds of healthcare professionals to bring quality medical services to our people. Our world-class Kashim Ibrahim University Teaching Hospital will soon be activated.’

‘We have invested hugely in the education sector, recruited over 4,000 teachers and renovated schools across the state. Our scholarship programmes have sent thousands of Borno indigenes to universities at home and abroad, investing in the human capital that will drive our future.’

‘In the agricultural sector, we have distributed thousands of tonnes of fertiliser, improved seeds, and agricultural machinery to our farmers. We have revived some sections of the South Chad Irrigation Project, enabling the cultivation of thousands of hectares of land and moving us towards food sufficiency.’

‘My dear people, the journey is not over. Challenges remain. We still face the threat of remnant terrorists. But there is a gradual return to peace in Borno. Many of our communities have reestablished themselves, our markets are bustling, and our farms are again yielding bountiful harvests.’

‘On this Independence Day, let us draw strength from our collective resilience. Let us renew our commitment to unity, peace, and the progress of Borno State within a prosperous Nigeria.’

The Federal Capital Territory (FCT) Police Command has confirmed that Somtochukwu Maduagwu, a correspondent with Arise News jumped from the third floor of her Katampe apartment during an armed robbery attack on Monday, September 29.

Ajao Adewale, Police Commissioner, disclosed the details on Wednesday during a live appearance on Arise Television, where he described the incident as ‘tragic and very unfortunate.’

According to eyewitnesses and vigilantes within the compound, Maduagwu jumped from the third storey of the three-floor residential building, identified as Unique Apartments, while trying to escape the attackers.

‘She landed on the concrete pavement and was found unconscious in critical condition before being rushed to Maitama General Hospital.

Confirming the events that led to her tragic death, Adewale said police officers arrived at the scene to find the journalist unconscious.

‘Policemen moved to the scene and found her lying unconscious. She was immediately taken to Maitama General Hospital, where doctors tried to resuscitate her using CPR, but sadly, she could not make it,’ he said.

The police commissioner explained that the armed robbers had gained access to the apartment complex, a twin three-storey building with 18 flats located around the Gishiri axis of Katampe, under the Mabushi Division. Two private security guards were on duty at the time of the attack. One of them reportedly attempted to resist the robbers but sustained a gunshot injury in the process.

‘In the panic that followed, Sommie, who lived on the topmost floor of the building, jumped down from the third storey. The consequences were tragic and very unfortunate,’ Adewale said.

He further revealed that a special investigation team, led by the Deputy Commissioner of Police (Investigation), had been constituted to track down the perpetrators.

‘We have set up a specific investigation team headed by the Deputy Commissioner of Police, Investigation, with all tactical units involved to track down the culprits.

‘The leads we are getting are already being worked on, and no stone will be left unturned until the perpetrators are brought to justice,’ he assured.

The commissioner extended condolences on behalf of the command to Maduagwu’s family, her colleagues at Arise News, and Nigerians who have been deeply shaken by the incident.

‘The FCT Command once again commiserates with the family of Sommie, the Arise News family, and Nigerians deeply touched by this ugly and disturbing incident,’ Adewale said.

Enugu State Governor, Peter Mbah, has urged Nigerians to hold fast to optimism and unity in the face of present challenges, noting that Enugu is on a pathway to economic growth and positive turnaround.

The governor sees the economic policies of the President Bola Tinubu administration and the citizens’ huge sacrifices ultimately paying off if the nation stays the course.

These were contained in the governor’s message to Nigerians to mark Nigeria’s 65th Independence Anniversary, where he noted that, though the anniversary may is low-key, it did not obviate Nigeria’s giant strides as an independent nation.

In the message, which he personally signed, the governor congratulated Nigerian citizens for ‘the proud milestone.’

‘At 65, our independence is a reminder of what we can achieve as a people when we are united. It is also a reminder that progress demands sacrifice, and that tomorrow is shaped by the choices we make today,’ he said. Continuing, the governor said, ‘the commemoration of our 65th independence anniversary may understandably be low-key, but the significance of the strides we have made as a nation is by no means underwhelming.

Those strides are manifest in the remarkable achievements we have recorded across key sectors. They reflect as well in the bold reforms of the federal government that have brought stability to the Nigerian economy. The sacrifices may be huge today, but there is no doubt that the end will vindicate the decisions if we stay the course.’

Mbah said that as Nigerians raise their flags today, they should renew their covenant to Nigeria; embrace the spirit of unity, and uphold the optimism that has carried them this far.

The governor recommitted his administration’s inclusive development model that leaves no one behind, stressing that Enugu State, under his watch, was on the path of exponential economic growth and positive turnaround.

‘In Enugu State, this Independence Day is a fitting occasion to recommit to our pledge to make inclusion the cornerstone of government policy; to create wealth and deploy it for the benefit of everyone in Enugu State. We are staying the course, and no one will be left behind,’ he assured.

He noted that from moribund assets roaring back to life, to Ndi Enugu enjoying a resounding sense of security of lives and property, the children transitioning to 260 Smart Green Schools, our rural communities accessing modern healthcare courtesy of our completed or ongoing 260 Type 2 Primary Healthcare Centres, Ndi Enugu commuting conveniently and affordably via the state’s modern transport system and infrastructure, the state is, no doubt, on a pathway to assured turnaround and exponential economic growth.

Wale Tinubu CON, group chief executive, Oando PLC, has been awarded the prestigious Lifetime Achievement Award at Africa Energy Week (AEW) 2025, in recognition of his unwavering commitment to building Oando into one of Africa’s foremost integrated energy companies.

The award, one of the most coveted accolades at AEW, is presented annually to industry leaders whose careers have demonstrated extraordinary vision, resilience, and a lasting impact on Africa’s energy landscape. Past recipients have included trailblazers such as Benedict Okey Oramah, president of Afreximbank, who received the Mohammed S. Barkindo Lifetime Achievement Award in 2024; Hage Geingob, former president of Namibia, and H.E. Macky Sall, former president of Senegal, awarded in 2023; and Bruno Jean Richard Itoua, minister of Hydrocarbons, Republic of Congo, in 2022.

In conferring the award, the Africa Energy Chamber cited Tinubu’s ‘dedication to advancing Africa’s energy security, his bold leadership in navigating Oando through periods of uncertainty and transformation, and his pivotal role in demonstrating the power of indigenous companies in driving industrial growth and energy sovereignty across the continent.’ Throughout his career, Tinubu has been a steadfast champion of Africa, charting its own destiny by harnessing its abundant resources for the benefit of its people. A firm believer that anyone can achieve greatness with vision, determination, and the right team around them, he has led Oando from its modest beginnings as a local downstream operator into a multinational integrated energy player with a robust portfolio spanning exploration and production, power, and renewables. His leadership has not only positioned Oando as a continental leader but also symbolized African ambition, ingenuity, and resilience.

The Lifetime Achievement Award is widely regarded as a benchmark of excellence at AEW, reserved for leaders whose contributions have left an indelible mark on Africa’s energy sector. It recognises individuals whose sustained, more than decade-long careers embody remarkable achievements and enduring contributions to the oil, gas, and energy industries. Tinubu’s recognition was a fitting and well-deserved tribute to a leader who has consistently inspired others to believe in the promise of Africa and the power of its people.

Governor Lucky Aiyedatiwa of Ondo State has commended President Bola Tinubu for his bold economic reforms, social re-engineering and massive infrastructural developments under the Renewed Hope agenda.

This is just as he reaffirmed his administration’s commitment to service, actions and visible results as Nigeria marked its 65th Independence anniversary.

Speaking at a celebration held at the Gani Fawehinmi Arcade, Akure, the governor joined millions of Nigerians in reflecting on the nation’s journey since 1960, describing independence as both a gift of self-rule and the dignity of identity.

According to him, despite challenges of civil strife, military rule and economic hardship, Nigeria has remained united and resilient, commending President Bola Ahmed Tinubu for his bold economic reforms across all sectors. Aiyedatiwa said, ‘As a country, we have come far. We have weathered through civil strife and military rule, and we stand tall as the largest democracy in Africa. We have made significant contributions to peacekeeping operations across the continent, proving that Nigeria is not only a giant in population but also in responsibility. Our economy, though faced with challenges, has produced world-renowned entrepreneurs, economists, scientists, artists and sportsmen who have carried the Nigerian flag to the ends of the earth. Above all, we have remained united, over 200 million people of different tongues, faiths and traditions, still bound together under one green and white flag.

‘Our country is blessed at a time like this to have a visionary leader like His Excellency Asiwaju Bola Ahmed Tinubu, GCFR, President and Commander in Chief of Armed Forces of Nigeria. We must continue to appreciate Mr President for his bold economic reforms, social re-engineering and massive infrastructural developments. Right now, indications are that, Nigeria is certainly making progress and on the path of glory under the Renewed Hope Initiatives of Mr President.’

Reviewing the strides of his government since assuming office on February 24, 2025, Aiyedatiwa reeled out achievements across key sectors, highlighting the ongoing dualisation of the Akungba-Ikare and Okitipupa-Igbokoda highways, the construction of walkways and jetties in riverine areas, and the approval of five kilometres of roads in each of the state’s 18 local government areas. ‘These would open up communities, ease transportation and bring development closer to the grassroots. Roads are not just pathways, they are lifelines that will boost commerce, agriculture, reduce travel stress and encourage economic activities and the daily life of our people.’ the governor said.

In the health sector, he noted the expansion of the State Contributory Health Scheme, commissioning of a pharma-grade warehouse for drug distribution, renovation of hospitals, revitalisation of primary healthcare centres and recruitment of more health workers.

‘Education has also witnessed steady improvements with rehabilitated classrooms, digital learning opportunities, scholarships and bursaries, and the continued operation of free shuttle buses and boats for students.’

The governor further disclosed that his administration has secured 26,000 hectares of land and earmarked ?7.5 billion for agricultural development, which he said will boost food security and create jobs. Aiyedatiwa listed other interventions, including the provision of 75 security vehicles fitted with modern gadgets, the construction of 32 executive council housing units, prompt payment of salaries and pensions, attention to gratuities, and prudent financial management that has reduced the state’s domestic debt profile.

‘Workers’ salaries and pensions are paid regularly and up to date. Recruitment into critical sectors is ongoing to keep our workforce vibrant and effective,’ he stressed.

Jensen Huang, Nvidia CEO, has warned that the United Kingdom (UK) and other major economies face a crippling shortage of skilled tradespeople like electricians and plumbers.

The deficit, according to him, could be best met by encouraging more workers from overseas.

The technology chief underscored the urgent need for a massive increase in the blue-collar workforce to keep pace with the accelerating global boom in data centre construction.

This fast-growing sector, essential for powering the artificial intelligence (AI) revolution, requires a vast physical infrastructure, and Huang insists the required skills are not on track to be filled domestically. ‘If you’re an electrician, you’re a plumber, a carpenter we’re going to need hundreds of thousands of them to build all of these factories,’ Huang stated.

He projected an explosive demand in the sector, claiming, ‘The skilled craft segment of every economy is going to see a boom. You’ve going to have to be doubling and doubling and doubling every single year.’

The call for overseas labour

Huang’s comments echo the anxieties of other leading business figures who have highlighted immigration policies and a lack of interest among young people as creating a perfect storm for construction and manufacturing.

Earlier this year, Larry Fink, BlackRock CEO, voiced his concerns to the White House, specifically pointing to the negative impact of immigrant labour deportations on the ability to build essential AI data centres in the United States (US). ‘We just don’t have enough,’ Fink lamented, noting the shortfall in skilled workers like electricians needed for the construction drive.

This view was recently backed by Jim Farley, Ford CEO, who cited a gap between political ambitions to ‘reshore’ manufacturing and the reality of the domestic workforce.

According to Farley, the US is already short by over half a million construction workers and 600,000 factory staff, demonstrating that ‘there’s nothing to backfill the ambition’ of large-scale, national projects. The demand for these workers is not speculative. Industry analysts project that global capital expenditure on data centres will soar to $7 trillion by 2030.

Each large-scale data centre can demand up to 1,500 construction staff during its initial build, with many roles offering six-figure salaries without the requirement of a university degree.

Huang’s stance signals a shift, suggesting the most lucrative opportunities now lie in the physical side of technology rather than the software. When asked what he would study if he were a young man today, the Nvidia CEO confessed he would now choose disciplines rooted in the physical sciences.

With AI threatening a swath of traditional white-collar, entry-level roles, it is obvious that the future workforce needs to be ready to get its hands dirty, and a major influx of domestic and foreign talent is required to power the next industrial revolution.

The travel and tourism industry plays a major role in Nigeria’s economic development. In this interview with BusinessDay, IFEANYI EZEOKOLI, the MD/CEO, Incel Holidays and Tourism Limited, highlights the innovative ways Incel Holidays is redefining the tourism industry in Nigeria. Excerpts:

The tourism sector, to a very large extent, gives the state of health of the country. How has your experience been in Nigeria’s tourism sector, especially in the last 2 years?

The last two years have been both challenging and inspiring. On the challenging side, we have had to deal with rising costs in the industry from flights, visas, and even processing our local passports due to the exchange rates. I would also add that there are also infrastructure gaps and global travel restrictions that have reshaped customer expectations. Some years ago, you could travel to Dubai with N500,000 with flight, hotel, and visa inclusive; now N500,000 can barely cover return flights even to neighbouring Ghana.

But on the positive side, there has been a strong shift in interest towards other international destinations, including our very own domestic tourism. More Nigerians are realising that they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation. Taking a cue from the last ‘Detty December’ in Lagos, seeing how Nigerians and foreigners trooped into Lagos to enjoy the excitement Lagos has to offer. That shift has kept the sector alive and given us hope for bigger opportunities ahead. Besides Lagos, we should remember Calabar Carnival, Obudu Resort, Ikogosi, and other interesting places within Nigeria.

More Nigerians are realising they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation-Ezeokoli

What unique features stand your firm out in the nation’s holiday and tourism sector?

At Incel Holidays and Tourism Limited, we offer more than just travel planning. We provide complete solutions for our clients – end-to-end travel service, which includes affordable flights, smooth visa processing, hotel bookings, transfers, corporate travels, airport protocols, and guided tours. We have holiday packages designed to be fun-filled and convenient. Also, on request, we create bespoke holiday packages so our customers can focus on enjoying their trip while we take care of everything else. This ability to simplify travel for individuals, families, and corporate clients has helped us gain the trust of our customers over the years.

There are so many players in Nigeria’s tourism industry. How does your firm handle competition and disruptions in the industry?

Travel and tourism in Nigeria is a highly competitive space. However, we don’t approach it with fear. Instead, it pushes us to be innovative, go the extra mile to satisfy our customers while staying flexible.

When challenges come up-like changes in exchange rates, flight cancellations, or new rules-we adjust quickly. We negotiate new deals, look for new destinations, and keep open communication with our clients. This ability to adapt, along with our personal touch, helps us succeed in a very competitive industry.

The new government policies concerning exchange rates and subsidy removal created opportunities and new challenges. Could you please share your experience on how your firm tapped the opportunities and addressed the new challenges?

The policies definitely raised travel costs, but they also pushed us to think smarter. We leveraged stronger partnerships with airlines, other agencies, travel vendors, and hotel groups to secure discounted deals. We also expanded our domestic travel options, encouraging Nigerians to visit and see places in Nigeria. We have invested in reaching more customers around the world, using our Dubai branch as a key example. We are also using digital tools to provide our clients with more flexible payment options. While we faced challenges, these also gave us the opportunity to diversify and innovate. Nigeria will be 65 years old on October 1st. What message do you have for the country’s leaders at the federal and state levels?

At 65, Nigeria has much to celebrate, but we also need to look forward. I want our leaders to understand that tourism can be an integral part of our economy if we focus on it. Investing in infrastructure, safety, and promoting our destinations will attract foreign visitors and encourage Nigerians to explore their own country. If the government and private sector collaborate effectively, tourism can create as many jobs and contribute to the nations GDP as much as the oil and gas industry in the next ten years.

The Yuletide season is almost here and it is the time of the year customers expect a unique experience. Any special packages in the pipeline for your current and prospective clients?

Yes, this Christmas we have put together packages that give our clients something truly memorable. For those who want to explore closer to home, we are running a 7-DAY CHRISTMAS ADVENTURE ACROSS FOUR WEST AFRICAN CITIES, COTONOU, OUIDAH, LOMÉ, AND ACCRA.

It is a mix of history, culture, and fun, with stops at places like the Amazon Statue in the Republic of Benin, Casa del Papa resort, a Lomé boat cruise, and Accra’s Kwame Nkrumah Park. It promises to be a thrilling and relaxed road trip in a comfortable air-conditioned bus. The tour runs from 22nd – 28th December, 2025. This special offer allows clients to deposit only 30% by 15th October, and the balance due by 25th November, 2025.

For travellers looking further abroad, we have created a Singapore package that covers four nights of sightseeing, including Merlion Park, the famous Cable Car ride, and a guided tour of Scentopia. Everything from the visa to airport transfers and hotels will be handled by us thus making the trip stress-free. This valid from 1st September 2025 to 20th January 2026.

And for sports fans, December is extra special because of the AFCON 2025 in Morocco from Dec 21 to 31, 2025. Our Package takes you to three live Super Eagles matches, with 10 nights’ accommodation, tours, visa support with flights included.

Our Christmas package this year is different from the norm, as there are options that fit different target markets in the travel space. For those looking for a ONE-STOP travel partner this Yuletide season, Incel Tourism offers you everything from visa assistance and processing to flight tickets, hotel bookings and airport transfers. Our end-to-end solutions make your travel easy and stress-free. For bookings and further enquiries Call/WhatsApp 09113218885, 09113218886 or mail [email protected]

What is the outlook for the holiday and tourism sector in Nigeria?

The future is definitely bright for Nigeria’s tourism industry. Nigerians love to travel and experience new things. Aside from wanting to ‘JAPA’, more people are looking to build their travel history for either tourism or relocation to study or work. The Nigeria travel space has better online booking options and greater awareness of local attractions; the tourism sector is growing. If the government invests in the travel and tour industry and collaborates with private businesses, Nigeria’s tourism industry can become one of the strongest in Africa in the coming years.

Mainstream Energy Solutions Limited (MESL), in a bid to advance the Nigerian energy landscape, has signed an agreement with Granville Energy (PTY) Limited to design, build, finance, and operate a 100 megawatt (MW) floating solar power plant at the Kainji hydro power plant.

Speaking during the signing ceremony in Abuja on Tuesday, Sani Bello, Chairman, Board of Directors, Mainstream Energy Solutions, said that the project is a significant step forward in the company’s mission to transform Nigeria’s energy landscape.

He explained that when fully operational, the project will provide thousands of Nigerian homes and businesses with clean, reliable energy, supporting economic development while minimising environmental impact.

‘We are proud to partner with Granville Energy (PTY) Limited to design, build, finance, and operate a 100MW floating solar power plant at the Kainji hydro power plant. This pioneer project embodies our unwavering commitment to increasing power generation in Nigeria while promoting sustainable and environmentally friendly solutions.

‘As an organisation. We have consistently demonstrated our commitment to renewable energy, aligning this with our mission statement and the focus areas of our Corporate Social Responsibility interventions. This MOU signing is a testament to our resolve to drive positive change and contribute to Nigeria’s economic growth.

‘This aligns perfectly with our core objective: powering Nigeria’s economic growth in an environmentally responsible manner,’ he said.

In his remarks, Abba Aliyu, Managing Director, Rural Electrification Agency (REA) noted that Nigeria currently have the highest number of people without electricity, with most of these people located in the rural and urban areas of the country.

For him, the most economically viable means of providing them with electricity is through distributed renewable energy, through the deployment of renewable sources.

‘For us to have an opportunity where 100 megawatts of renewable energy can be injected into the grid, for us, this is a huge and significant increase in the renewable mix of the country. I will say that apart from the Azura, which was 450 megawatts that was added as a Greenfield, and Zungeru, which mainstream is very much active in managing that, there is no significant renewable capacity that has been added to the grid.

‘Initially, the Rural Electrification Agency is currently working on injecting about 188.4 megawatts through interconnected mini-grids, one of which we intend to be the first to will do the floating solar in the University of Lagos, where we will put the panels by the side of the lagoon to power the University of Lagos.

‘But definitely, the commitment of the mainstream and the partners, Granville Energy, is something that the federal government will always have pleasure in and will always key into it.

He said that Nigeria needs to increase the generation capacity, hence the need to deploy more renewable resources and an innovative model like this that harnesses the space around the hydro and creates a floating solar.

He also advised the companies that the project should come with its own distribution network, SCADA system, and full meters to enhance the commercial viability of the project, adding that without these, the commercial viability of the renewable project can never be sustained.

‘This is an ingenious, complex framework that must be encouraged, and for the Rural Electrification Agency, we would like to be part of this initiative, key into it, support it, and in any way also learn from how we will do that, how we will deploy it at this level of capacity,’ he added.

Also speaking, Tabi T. Tabi, Chief Executive Officer, Granville Energy, said that the MOU commits both parties to the development of the Kainji Floating Solar Plant, which is intended to reach a total capacity of 1,000 megawatts (1 Gigawatt).

He explained that the immediate focus is the rapid deployment of phase one, which will add 100 MW of hybrid renewable power to the grid. ‘This multi-gigawatt vision is a testament to what is possible when two African giants-Nigeria and South Africa-collaborate,’ he said.

Tabi noted that by deploying high-efficiency solar panels directly onto the surface of the Kainji reservoir, the project will deliver a powerful hybrid system. This synergy, he said, ensures that when the sun shines brightest, it generates solar power; and when it sets, or when water flow fluctuates, the stabilised output of the hydro plant and the power from the battery energy storage systems step in, providing consistent, reliable power to the national grid.

‘Floating solar is a win for water management. By covering a section of the reservoir, we drastically reduce water evaporation-a critical benefit for a nation balancing energy production with agricultural and domestic water needs.

‘This first 100 MW phase is the down payment on a larger vision that will, upon completion, provide 1,000 MW of new, clean capacity, dramatically cutting carbon emissions and cementing Nigeria’s commitment to the goals of the Paris Agreement and its long-term climate targets,’ he said

Yemi Kale, former statistician-general, has urged the federal government to remain committed to ongoing structural reforms despite the short-term hardships they impose on households, warning that abandoning the process could trap the country in another cycle of low growth, high inequality, and fiscal stress.

Delivering his speech entitled ‘Reform and Resilience: Strengthening Nigeria’s Economic Foundations’ at The Platform in Lagos on Wednesday, Kale, who currently serves chief economist at Afrenexim bank, said the government’s reforms since 2023 – subsidy removal, exchange rate unification, and tighter monetary policy – have begun stabilising the macroeconomy but stressed that the reforms would be incomplete without strong social protection and structural transformation.

‘Reform is like curing a fever,’ Kale said. ‘You must endure some discomfort as the medicine takes effect. But the alternative of letting the fever run just because the pill is bitter, or the injection is too painful, is far worse.’

Monetary and fiscal reforms restoring stability

Kale argued that Nigeria’s monetary policy had regained credibility after years of inconsistency and quasi-fiscal interventions by the Central Bank. He pointed to the sharp increase in the monetary policy rate to 27.5%, one of the steepest in history which was recently reduced to 27%, as well as efforts to mop up excess liquidity through streamlined open market operations.

‘Importantly, these actions were accompanied by clearer communication, regular policy reports, forward guidance, and transparent explanations of the inflation outlook,’ he said. ‘The results are now visible. Headline inflation, which averaged 25-30% in 2023 and 2024, has begun to ease towards the low 20s. Every percentage point reduction protects the real value of salaries, pensions, and savings, and reduces uncertainty for investors who must plan projects years in advance.’

He projected that inflation could fall to about 14% by the end of 2026 if reforms are sustained. But he cautioned that households would continue to feel the strain.

‘Between now and then, the hardship will continue. The lesson here is clear, reforms must be matched with targeted and effective social cushions to protect the most vulnerable.’

Energy and power: The backbone of growth

The former statistics chief emphasised that no reform agenda could succeed without addressing Nigeria’s chronic energy and electricity challenges.

He praised the launch of the Dangote refinery, which exported its first gasoline cargoes in 2025, as a step toward reducing dependence on imported refined products. But he listed unresolved issues, reliable feedstock supply, transparent pricing formulas, labour disputes, and clear currency settlement mechanisms, that could hinder its impact on domestic supply.

‘The broader challenge is to achieve energy security without reverting to hidden subsidies or encouraging monopolistic practices,’ Kale said. ‘This underscores the need for complementary policies such as strong antitrust oversight, transparent pricing, and incentives for new entrants.’

On electricity, he called the 2023 Electricity Act a ‘bold structural shift’ that decentralises regulation to the states. ‘In essence, it breaks the old centralised monopoly and opens the door for states to partner with private investors to generate, transmit, and distribute power locally,’ he said. ‘Decentralise, liberalise, and let there be light.’

Kale, however, warned that not all states have the capacity to regulate electricity effectively, urging federal support and regional cooperation to prevent the rise of ’36 mini-monopolies.’

Infrastructure, trade, and the business environment

Kale identified infrastructure investment as both an economic necessity and a macroeconomic stabiliser. Citing World Bank projections, he said Nigeria requires $3 trillion by 2050 to meet infrastructure needs, including $575 billion for the transport sector between 2020 and 2043.

‘To put this into context, Nigeria’s entire 2025 budget is about $36 billion, and its rebased 2024 GDP was about $275 billion,’ he said. ‘Government alone cannot meet these vast needs. Public-private partnerships are therefore key.’

He urged that part of the savings from subsidy removal should be legislated and earmarked for transport, logistics, and energy infrastructure.

‘Embedding this commitment into the national budgeting process and potentially into legislation would help rebuild trust with citizens who have borne the immediate burden of subsidy removal,’ he said.

Kale highlighted Nigeria’s telecoms liberalisation as a model for reform. ‘In 1960, we had fewer than 20,000 telephone lines for 40 million people. By 2001, after four decades of monopoly under NITEL, there were only 400,000 lines. Liberalisation in 2001 changed everything. Within five years, lines rose to over 10 million. Today, Nigeria has over 220 million active subscriptions, contributing 16% of GDP. That is what well-designed reforms can do,’ he said.

On trade, he warned that restrictive policies such as export bans, high tariffs, and border closures undermine competitiveness and integration into global value chains.

‘While such measures are often justified as protecting local industries, in practice they encourage smuggling, raise consumer prices, and limit efficiency,’ he said.

He urged Nigeria to position itself as a continental hub under the African Continental Free Trade Area (AfCFTA).

Kale acknowledged that while macroeconomic stabilisation was visible in the data, millions of Nigerians still measure progress in ‘the price of food, the reality of electricity, and their children’s job prospects.’

He praised initiatives like the Student Loan Act and state-level fuel relief packages but called for deeper reforms in education, healthcare, and social protection.

‘Without shared opportunities, inequality and unrest will erode stability. Power and fiscal reforms should empower states, while federal economic and agro-processing zones can lift lagging regions,’ he said.