Category: Business Day

Smoke rose above Yakubu Gowon Stadium in Port Harcourt, Rivers state earlier this month as the scent of roasted plantain and sizzling fish filled the air.

Thousands of people gathered September 6-7 for the annual Bole Festival, a two-day celebration of Port Harcourt’s beloved street food.

This year, Maggi, the seasoning brand long associated with Nigerian kitchens, stepped out of the home and into the heart of youth culture. Its partnership with the festival, themed ‘Bolefication,’ underscored a shift in how the brand wants to be seen, not just as a pantry staple but as part of the street food and cultural scene.

The event lived up to its theme. ‘Bolefication’ was less a tagline and more the collective energy of the weekend; music, fashion, food and togetherness. DJs kept the crowd moving while creators and influencers documented the smoky grills, long queues, and laughter shared between friends and strangers alike.

‘Day one was such a vibe,’ said Jane Derry, a content creator who was at the Maggi arena at the festival. ‘They brought in a chef who showed us how to take bole to the next level, perfectly grilled plantain with roasted fish, ugba, otazi leaves, fresh pepper and that signature sauce.’

Reinventing tradition: The newspaper wrap

One of Maggi’s most talked about contributions was a playful reinvention of the humble newspaper wrap that traditionally accompanies bole on the streets. Instead of recycled print, each serving came in a Maggi-designed cultural newspaper filled with witty headlines, flavour hacks, and bite-sized bole recipes.

The retro-style paper transformed an everyday detail into a festival keepsake. For many young attendees, it turned the act of eating into an experience, sparking conversations as they read quirky commentary while enjoying their food.

Fashion meets flavour: The merch drop

The collaboration also spilled into fashion with a limited Maggi x Bole Fest merch drop. Styled like a streetwear release, the tote bags and T-shirts quickly became a symbol of belonging. Fans and influencers wore them proudly across the grounds, turning Maggi into more than a seasoning brand; it became part of youth identity and style.

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Stories in smoke and flavour

The festival also became a stage for storytelling. Select influencers created content that captured the raw textures of the event; the fire, the smoke, the communal energy. In those short films, bole was more than food; it was memory, shared ritual, and togetherness, always seasoned with Maggi.

‘It wasn’t just a wrapper, it was a conversation starter,’ said influencer Esther Samuel, known as Miss_hotspots. ‘Maggi didn’t just season the food; they seasoned the whole experience.’

The Maggi Arena

At the heart of the stadium, the Maggi Arena drew crowds with its Flavor Bar, where festival goers customised spice mixes, swapped recipes, and created content together. It became a hub of interaction, reinforcing the idea that Maggi is not just a cube in the kitchen but the seasoning that makes shared experiences richer.

‘The energy at the Bole Festival was incredible,’ said Funmi Osineye, marketing manager for Maggi. ‘At our Maggi Bolefication Zone, we didn’t just share Maggi, we shared joy, culture and connection.’

The verdict: ‘Elite’ vibes

By the festival’s close on September 7, many attendees agreed the partnership had elevated the event. ‘The bole? Delicious. The vibes? Perfect. The energy? Elite,’ said creator Nancy, summing up what many described as a weekend of food, music, and community.

For Maggi, the festival marked an evolution from being seen mainly as a household product to positioning itself as part of Nigeria’s cultural fabric. In Port Harcourt, at least for one smoky, flavour-filled weekend, Maggi wasn’t just in the kitchen. It was on the streets, in the music, and in the moments that people said made them feel Bolefied.

Binta Isma’il’s moved from hawking bread under the sun in Abaji market to owning a thriving shoemaking workshop in the same community, showing what resilience plus targeted support can accomplish. In 2019 she became a beneficiary of the Conditional Cash Transfer programme under the National Social Investment Programme of the Federal Government, she used her first stipend to register her new workspace she enrolled and paid to learn shoemaking she bought machines, leather and other tools she needed to build her trade, she says, ‘I used to hawk bread at Abaji market however since I started collecting this money I used it to register my new place of work’

Her workshop in Abaji, Federal Capital Territory is now more than a business; it is a place where apprentices learn the trade and people earn daily incomes from the work done there.

She recalls days when she carried loaves on her head wet from dew or heat ready before dawn often wondering if life would change.

With the stipend from CCT she made decisions that felt small at first yet turned out to be big she learnt shoemaking she bought a machine she bought materials she persisted when orders were few and when progress was slow she upgraded little by little every pair of shoes sold built confidence every apprentice trained expanded her shop steadily demand came she did not rush she built reputation

Her experience shows what well-targeted programmes can do for persons with little – provide small amounts of capital, enable training, remove certain barriers to entry she advises prospective beneficiaries to use stipends wisely enrol in a trade and invest in needed tools rather than waiting for large sums she says, ‘From the beginning, I enrolled and paid to learn the trade from the initial instalment of the CCT that was paid to me, because at that time, I was hawking at Abaji market’

Today Binta Isma’il’s workshop is busy, the income is more stable, and the apprentices are more confident.

The Chartered Institute of Personnel Management of Nigeria (CIPM) held its 66th Specialised Induction Ceremony, inducting administrators and HR staff of the Redeemed Christian Church of God (RCCG) into the Institute.

Themed ‘Raising the Bar of Professional Standards: HR as a Steward of Transformation’, the event highlighted the pivotal role of Human Resource (HR) professionals in driving excellence and sustainable transformation within organisations and society. The ceremony formally inducted six Full Members and seventy-seven Associate Members into the Institute.

In his welcome address, Mallam Ahmed Ladan Gobir, the President and Chairman of the Governing Council of CIPM, charged the new inductees to embrace their roles not just as HR practitioners but as ‘stewards of transformation.’

He stressed that the lapel pins and certificates received symbolised a professional and moral responsibility to remain committed to the highest standards of HR practice.

‘Today, you are crossing from potential to professional,’ Gobir said. ‘HR is not about pushing files; it is about stewarding destinies, igniting purpose, and transforming organisations. The true measure of HR is not in the policies you write, but in the lives you transform.’

He further urged the inductees to prepare for the future of work, citing World Economic Forum projections that 92 million jobs may be displaced by automation by 2030, while 170 million new roles will be created. According to him, HR professionals must take the lead in preparing people and organisations for such transitions.

Delivering the keynote address, Sabastine Okeke, FCIPM, Coordinator of Personnel Affairs at RCCG, spoke extensively on the historical evolution of professional bodies and the critical importance of professional standards. He noted that professional standards serve as the foundation of credibility, quality, and trust, and that higher standards lead to better performance, greater team motivation, and stronger results.

Okeke emphasised that HR professionals are no longer mere custodians of employment but must evolve into ‘stewards of the entire work experience’.

He outlined the essential capabilities of HR leaders in today’s rapidly changing world: business acumen, data literacy, effective communication, and change management expertise, emphasising that only by mastering these can HR professionals truly lead transformation.

‘Raising the bar is not a one-time event but an ongoing process of reflection, recalibration, and re-creation,’ he said. ‘The HR professional of today must not only align organisational culture with business goals but also ensure that technology, ethics, and humanity work together for sustainable impact.’

Also speaking, Vincent Adegborioye, the Chairman of the Conflict Resolution and Mediation Committee, FCIPM, who reechoed the President’s message, stating: ‘When spirituality merges with structure, the result will be outstanding.’

He encouraged inductees to leverage RCCG’s structure while upholding CIPM’s standards to elevate their HR careers.

The new inductees were urged to actively participate in RCCG Chapter and Ogun State Branch activities of the Institute, and to take advantage of the newly launched CIPM HR Leadership Academy to hone their skills.

The President also encouraged them to register and attend the 57th International Conference and Exhibition of the Institute, scheduled for October 27-30, 2025, at the Bola Ahmed Tinubu International Conference Centre, Abuja.

With this induction, CIPM reaffirmed its commitment to raising the bar of HR practice in all sectors of the economy. By embedding global best practices, strengthening ethics, and equipping HR professionals with strategic leadership skills, the Institute continues to drive its mandate of professionalising human resource management as a cornerstone for national development.

Five women entrepreneurs have been shortlisted for the final stage of the ?20 million Unicorn Project, an initiative by communications agency SoMe Solutions in collaboration with Premier Business Network (PBN).

The competition, launched earlier this year, is aimed at supporting women-led businesses in Nigeria with funding, mentorship, and visibility opportunities. From more than 120 applications received nationwide, the selected finalists represent a range of sectors, including food, fashion, wellness, and agriculture.

The five entrepreneurs are:

Nancy Amaku – Chef Nahnah Foods and Confectionaries Ltd; Aderoju Dasola Elizabeth – Eliz-Bags and Accessories;

Opeyemi Adebisi – Pemnia Wellness;

Kieva Chris-Amusan – Fertitude;

Abejide Oluwatosin Mercy – House of Rheevo Limited

According to the organisers, the finalists were chosen following interviews and assessments of an initial shortlist of 20 entrepreneurs. Those who made the Top 20 have also been admitted into the Unicorn Community, which provides ongoing mentorship, networking, and business support.

Elizabeth Osho, founder of SoMe Solutions, said the project seeks to highlight the resilience and creativity of women in business. ‘It isn’t just about money, it’s about turning potential into lasting impact,’ she noted.

The judging panel includes industry figures such as Peter Gbologe (PBN), Morenike Molehin (Oak and Teak), Ifedayo Durosinmi-Etti (Herconomy), Ayisat Agbaje-Okunade (Lateef Jakande Leadership Academy), Emem Ime Okwoche (EMEM Fashion), and Adebolu Ezipke (SoMe Solutions).

In the coming weeks, the finalists will take part in a public engagement phase, where their stories will be shared online for feedback and voting. The results will contribute to the judges’ final decision.

The winner, to be announced later this year, will receive ?500,000 in cash and a ?20 million brand and PR support package.

The project is supported by several sponsors, including Complete Sports Nigeria, PoshClick, JustBrandIt, GetUp Inc., and Brand Communicator.

Sixty-five years after independence and decades of investment in infrastructure, Nigeria’s transport system remains a key barrier to economic growth.

Experts say the sector is approaching collapse, unable to meet the needs of a growing population or support development goals.

Despite allocating billions of naira to roads, railways, airports, and waterways, Nigeria continues to grapple with a fragmented, underperforming network that increases business costs and hampers productivity.

Samuel Odewumi, a former dean of the Faculty of Transportation and Logistics at Lagos State University of Science and Technology (LASUSTECH), told BusinessDay that transport policy remains reactive and poorly coordinated across all levels of government.

Odewumi said, ‘Nigeria’s population has more than doubled since 1990, but our infrastructure has not kept pace. This gap creates bottlenecks, slows economic activity, and raises logistics costs.’

He warned that without urgent reforms, the system could face long-term breakdown.

Odewumi identified overreliance on roads as a central issue. While a small fraction of Nigerians use air travel, most depend on road transport, much of which is deteriorating.

‘Our roads are not only overused, but misused. Trucks often carry 90 tons on roads designed for 30. That causes rapid damage, and repairs are often ineffective,’ he said.

He noted that seasonal rainfall compounds the problem, eroding road surfaces and worsening infrastructure already under strain.

He also criticised the state of rail transport, pointing out that only a few lines – Lagos-Ibadan, Abuja-Kaduna, and Warri-Itakpe – are functional, and even those operate below capacity.

‘The Warri-Itakpe line has been down for over two months. A single locomotive has served the route for years with limited maintenance. That’s not viable,’ he said.

He expressed concern over Nigeria’s reliance on Chinese loans for rail development, warning that maintenance and repayment are becoming difficult.

He also cited the lack of coordination among federal, state, and local governments as a persistent challenge.

‘Responsibility is often unclear. State and local governments frequently wait for federal action. As a result, many feeder and rural roads are neglected,’ he said.

Odewumi called for stricter freight regulations and a shift toward rail and inland waterways for moving goods. He emphasised the need for a multimodal system that integrates road, rail, air, and water transport and for policies that prioritise efficiency over political optics.

‘We can’t build enough roads to meet demand. Cargo from Lagos to the East should move by rail or sea, not trucks,’ he said.

He noted that transport inefficiencies raise operating costs, discourage investment, and reduce national competitiveness.

Odewumi also criticised the prevalence of tricycles and mini-buses in urban centres, describing them as indicators of underdevelopment.

‘When small vehicles dominate city transport, it reflects poor planning. One train can move thousands. A mini-bus moves a dozen – with greater risk. We must invest in safer, more efficient systems,’ he said.

He argued that sustainable solutions lie in clear policy, effective leadership, and private sector involvement.

‘Transport can be self-financing. Government should focus on creating an environment that supports private investment and long-term planning,’ he said. ‘At 65, Nigeria should not still be struggling with basic transport issues.’

Isa Emoabino, a fellow of the Nigerian Society of Engineers and former chairman of the Nigerian Institution of Highway and Transportation Engineers, echoed similar concerns.

He said that despite policy reforms and budgetary allocations, including N256.8 billion in the 2025 federal budget, Nigeria’s transport system remains inadequate.

‘At 65, our transport sector should be enabling growth. Instead, it’s holding us back,’ Emoabino said.

He pointed out that road infrastructure has not kept pace with population growth or economic targets.

‘There’s a significant infrastructure gap, and existing assets are poorly maintained,’ he said.

He also questioned the proposed 5 percent fossil fuel tax for road maintenance, urging transparency and clear application of funds.

‘People will only support taxes when they see how the money is spent. The process must be accountable,’ he said.

He linked poor road conditions to rising insecurity. ‘Most kidnappings and robberies happen on bad roads, where vehicles are forced to slow down,’ he said.

He added that improved infrastructure would lower logistics costs, ease food distribution and help stabilise inflation.

While acknowledging progress in rail development, he said it is still insufficient.

‘From 1960 to 1990, we neglected rail. Everything shifted to roads – and that’s why they deteriorate faster,’ he said.

He called for bulk cargo and petroleum to be moved via pipelines and rail, rather than by trucks.

‘Transporting petroleum by road damages infrastructure and increases risks. We have alternatives but don’t use them effectively,’ he said.

He also urged the government to implement the National Road Fund and Federal Roads Authority laws, already passed but not yet operational.

‘The frameworks are there. What’s missing is action,’ he said.

He linked transport failures to food insecurity, saying many farmers cannot move their produce, leading to waste and higher prices.

‘If transport doesn’t work, food can’t move – and that affects both availability and cost,’ he said.

He called for a national transport strategy focused on sustainable funding, consistent maintenance, and integration across modes.

‘We need less talk and more execution. Fixing transport is key to fixing the economy,’ Emoabino said.

However, Chris Itsede, executive chairman of Polar-Afrique Consulting, said road construction is already contributing to economic activity.

He cited shorter travel times, lower transport costs, and improved access to markets, healthcare, and education as indicators of progress.

‘Road projects are enhancing regional connectivity. Farmers can reach markets faster and reduce post-harvest losses,’ he said.

He noted that construction creates jobs across sectors – for engineers, technicians, and suppliers – and stimulates local economies.

‘Better roads attract investment, support small and medium businesses, and help drive growth,’ Itsede said.

He acknowledged that road infrastructure is expensive but said long-term benefits outweigh the costs.

‘Efficient logistics improve productivity. Roads connect people and goods,’ he said. ‘As Nigeria continues to invest in infrastructure, road development will remain central to inclusive growth.’

Still, many experts agree that roads alone cannot deliver the impact needed.

Roads account for more than 90 percent of internal cargo transport, yet many are in poor condition. Rail services remain limited, and inland waterways are underused.

Without coordinated reforms and integrated planning, Nigeria’s transport system may not only fail to support growth – it could actively hinder it.

Operatives of the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested Abdulazeez Gbadebo, a station manager with Emadeb Energy Service Limited, over allegations of diverting company funds amounting to N500 million.

The arrest followed a petition by the energy company after an external audit allegedly uncovered fraudulent practices.

According to the petition, Gbadebo was accused of illegally diverting and selling bulk petrol, with proceeds reportedly channeled into his personal bank accounts.

Preliminary investigations by the EFCC revealed that the suspect allegedly sold petrol and diesel in bulk directly to private individuals while manipulating pump meters to cover his tracks.

The anti-graft agency said these schemes enabled him to bypass company accounts and conceal the scale of the alleged fraud. During the operation, EFCC operatives reportedly recovered high-value assets suspected to be proceeds of crime.

Among the items seized were an ash-coloured Mercedes Benz, three Mini Coopers, a white Mercedes Benz GLK, property documents linked to the Kaduna Geographical Information System (KADGIS), a certificate of occupancy, a three-bedroom detached bungalow, and three landed properties.

The EFCC confirmed that Gbadebo is currently in custody and would be charged to court as soon as investigations are concluded.

The commission reiterated its commitment to tackling fraud and financial crimes.

A large crowd has gathered at the General Yakubu Gowon Airport in Hiepan, Barkin Ladi local government area of Plateau State, in anticipation of the arrival of President Bola Ahmed Tinubu, who is visiting the state to attend the burial ceremony of Lydia Yilwada, mother of Nentawe Yilwada, the National Chairman of the All Progressives Congress (APC).

The president is also expected to meet with Christian leaders during his visit.

Security has been heightened around key locations in the city, particularly the airport and major roads leading to the town.

Party faithfuls, local residents, and political associates began trooping into Jos as early as Friday evening in what is shaping up to be a significant political event.

As part of his itinerary, President Tinubu is scheduled to address Christian leaders in a closed-door meeting expected to focus on national unity, peacebuilding, and inclusive governance. Political analysts view the engagement as a strategic move aimed at strengthening the president’s relationship with key blocs in the region.

Meanwhile, Governor Caleb Mutfwang of Plateau State had assured a rousing welcome for the president.

Speaking on Friday at an alumni lecture at the University of Jos, the governor said, ‘The people of Plateau will come out en masse on Saturday to welcome Mr. President.’ He added that the visit was significant for the entire state.

This visit marks President Tinubu’s first official stop in Plateau State since assuming office, and it comes at a time of delicate political and religious dynamics in the North.

Observers say the event could set the tone for renewed political engagement between the federal government and Northern Christian communities.

Policymakers, regulators, innovators, private sector leaders and philanthropists have said that the best way to confront the challenges of financial inclusion is for the government and private sector to co-create policies, monitor outcomes together, and build incentives for long-term commitment.

They insisted that there is a need to chart actionable pathways for inclusive and resilient financial systems.

These were the major takeaways from the inaugural Bridgforte Dialogues Roundtable held on the sidelines of the 80th United Nations General Assembly.

The programme with the theme: ‘Financial Inclusion Towards 2035: Shifting Power, Shaping Systems,’ held at the Harvard Club of New York City, was convened in collaboration with the Aspen Institute Financial Security Programme and ConsumerCentriX.

Adrienne Harris, Superintendent of the New York State Department of Financial Services, said that the role of New York is to protect consumers and ensure an inclusive financial system.

According to her, the mission of New York is to globally maintain a thriving marketplace for both traditional institutions and innovators.

Sanusi Lamido Sanusi, the Emir of Kano, while reflecting on Nigeria’s long journey toward financial inclusion, said that despite the push for a cashless Nigeria, 65 percent of transactions are still in cash.

The former Central Bank of Nigeria Governor urged the participants to reckon with this gap amid the global push toward digital economies.

Soraya Hakuziyaremye, Governor, National Bank of Rwanda, in his virtual contribution at the programme, charged all stakeholders to co-create policies, monitor outcomes together, and build incentives for long-term commitment

Mohammed Umaru Bago, Governor of Niger State, called for stronger government leadership.

According to him, the government must lead on financial inclusion with sound policies, resilient infrastructure, and above all, investor protection. Clear laws and strong regulations are essential to ensure durable policies and lasting confidence.

Contributions from private sector leaders, including Africa’s celebrated fintech unicorns, added momentum, including from Shola Akinlade (Paystack) and Gbenga Agboola (Flutterwave), who highlighted Africa’s opportunity to break down borders through digital innovation and Bola Adesola (Ecobank Nigeria), who emphasised the role of trust and partnerships in advancing inclusion.

Participants proceeded to curated table discussions to identify blind spots in current strategies and co-create practical recommendations. The dialogue culminated in a plenary exchange, where perspectives from regulators, entrepreneurs, and philanthropists converged on the urgency of cross-sector collaboration to dismantle systemic barriers.

Commenting on the partnership, Ida Rademacher from the Aspen Institute Financial Security Programme said the roundtable is an exciting step to align private, public, and philanthropic leadership and consumer-centred insights to build a more responsive, beneficial financial infrastructure for the future.

Aishah N. Ahmad, CFA, Convener of the Bridgforte Dialogues, closed with a call to action: ‘Today we proved the power of an unusual conversation, candid, cross-sector, and bold. We tackled trust, the government’s role, disruptive technologies like DeFi, and the leadership needed for true transformation. Facilitating this dialogue has been a privilege, but the real work begins now, and I am committed to carrying it forward with urgency and resolve.’

The Bridgforte Dialogues align with UNGA 80’s theme ‘Better Together’ and anticipate the upcoming second world summit for social development, reinforcing that the future of inclusion lies in ensuring historically underrepresented voices are at the center of shaping global agendas.

Sixty-five years(65) is no small journey. For Nigeria, it is a story stitched together by resilience, culture, and a spirit that refuses to go unnoticed. Every Independence Day comes with reflection: the struggles, the progress, the imperfections, but it also reminds us of how often Nigeria has turned the world’s gaze in its direction.

It is in the aromas of our food that now cross oceans, the beats of Afrobeats that fill arenas thousands of miles away, the strokes of Nigerian artists commanding millions in London auctions, and the moments when athletes, filmmakers, or leaders have written Nigeria’s name into global history. These are not just flashes of fame; they are milestones of identity, pride, and influence.

As Nigeria marks 65 years of independence, here are eleven times the country stood out on the global scene.

Leadership

1. Dr Ngozi Okonjo-Iweala becomes the first woman and first African to lead the World Trade Organisation (2021)

In March 2021, Nigeria’s own Dr Ngozi Okonjo-Iweala made global history when she assumed office as the Director-General of the World Trade Organisation (WTO). Her appointment was not only groundbreaking as she became the first woman and the first African to hold the role, but also a testament to her decades-long career in international finance, economics, and development. Known for her fierce intellect, reform-driven leadership, and unwavering commitment to equity in trade, Okonjo-Iweala’s rise reinforced Nigeria’s influence on the world stage and inspired millions across Africa.

Food

1. Hilda Baci breaks the Guinness World Record for longest cooking marathon (2023)

On Monday, 15 May 2023, at 7:45 am, Nigerian chef Hilda Effiong Bassey, popularly known as Hilda Baci, made history in Lagos by breaking the Guinness World Record for the longest cooking marathon by an individual. She surpassed the previous record set in 2019 by Lata Tondon of India (87 hours 45 minutes), reaching an extraordinary 93 hours and 11 minutes. This feat trended globally, putting Nigerian cuisine at the centre of international conversations.

2. Adejoké Bakare becomes the first black woman to receive a Michelin star in the UK (2024)

In 2024, Nigerian-born chef Adejoké Bakare made history as the first Black female chef in the United Kingdom to be awarded a Michelin Star for her London restaurant, Chishuru. Celebrated for its modern take on West African cuisine, Chishuru’s menu draws heavily from Bakare’s Yoruba heritage, with dishes such as pepper soup, fermented rice pancakes, and grilled meats presented with refined, contemporary flair.

3. Hilda Baci sets record for the largest serving of Nigerian jollof rice (2025)

On 12 September 2025, during the World Jollof Festival in Lagos, Hilda Baci once again put Nigeria on the map. Partnering with Gino Nigeria, she prepared asun jollof rice over a nine-hour period, creating a staggering 8,780 kilograms (19,356 lb 9 oz) of the dish. Officially recognised by Guinness World Records, it was celebrated as the largest serving of Nigerian-style jollof rice ever made.

Music

1. Wizkid Sells Out London’s O2 Arena Three Nights in a Row (2021)

In November 2021, Nigerian superstar Wizkid became the first African artist to sell out the London O2 Arena for three consecutive nights during his Made in Lagos tour. The first show sold out in 12 minutes, the second in just 2 minutes, and the third followed quickly due to overwhelming demand. The feat cemented Wizkid’s status as a global Afrobeats ambassador, proving the genre’s growing influence on the world stage.

2. Tems becomes first Nigerian female artist to sell over 10 million units in the US (2025)

On Tuesday, 30 September 2025, Temilade Openiyi, professionally known as Tems, reached a historic milestone by becoming the first female Nigerian artist to sell over 10 million units in the United States. The confirmation came from Chart Data on X (formerly Twitter). The achievement centres on her collaborative single ‘WAIT FOR U’ with American stars Future and Drake, which officially crossed the 10 million sales mark. This record-breaking feat cements Tems’ position as one of Nigeria’s most successful global music exports.

Culture and creative arts

1. Ikorodu Bois take Nigerian creativity global (2020-2021)

The Ikorodu Bois, a Nigerian online comedy group, have carved a niche for themselves by recreating multi-million dollar Hollywood trailers, music videos, and photos with everyday items and pure ingenuity. Their viral re-enactments caught the attention of international filmmakers, including the Russo Brothers, who invited them to the premiere of Extraction 2. In 2021, their influence went even further when they were featured in a Netflix Oscar Weekend Film Brand Campaign, showcased on the giant screens of Times Square, New York City. This came after Netflix gifted them professional filming equipment in recognition of their unique talent.

Nollywood

1. Nollywood recognised as the world’s second largest film producer (2009)

In 2009, Nigeria’s film industry achieved a landmark recognition when the United Nations Educational, Scientific and Cultural Organisation (UNESCO) declared Nollywood the world’s second largest film producer, officially edging out Hollywood from the position. Only India’s Bollywood remained ahead. The announcement, made simultaneously at the UN headquarters in New York and UNESCO’s office in Paris, followed a global cinema survey by the UNESCO Institute of Statistics.

2. ‘Mami Wata’ makes Nollywood history at Sundance (2023)

In 2023, Nollywood achieved a historic milestone with the premiere of ‘Mami Wata’, a black-and-white fantasy thriller directed by CJ Obasi and produced by Oge Obasi, at the Sundance Film Festival – the world’s largest indie film festival. This was the first time a Nigerian feature film screened at Sundance, signalling Nollywood’s growing relevance on the global stage. The film went on to secure major accolades, including the 2023 National Film and Video Censors Board (NFVB) Award, and achieved even greater recognition when it earned an Oscar nomination for Best International Film in 2024.

Sports

1. Chioma Ajunwa Wins Nigeria’s First Olympic Gold (1996)

At the Atlanta 1996 Olympics, Chioma Ajunwa made history by leaping 7.12m to win the women’s long jump, becoming Nigeria’s first and only individual Olympic gold medallist. She was also the first Black African woman to win Olympic gold in a field event. Ajunwa’s legacy is even more remarkable as she remains the only woman to have competed at both the FIFA Women’s World Cup as a footballer and the Olympics as a track and field athlete.

2. Tobi Amusan Becomes Nigeria’s First World Athletics Champion (2022)

On 24th July 2022, Tobi Amusan made history in Oregon, USA, becoming the first Nigerian athlete to win a World Athletics Championship gold medal. Competing in the women’s 100m hurdles, she not only secured victory but also shattered the world record with a time of 12.12 seconds in the semifinal, before clocking a wind-assisted 12.06 seconds in the final. Her triumph was celebrated worldwide, with the International Federation of Athletics (World Athletics) and FIDA (International Federation of Women Lawyers) hailing her as a beacon of inspiration.

The naira closed the four-day trading week with N14.98 gain in the official foreign exchange (FX) market following sustained liquidity.

After trading on Friday, the naira appreciated by 1.02 percent week-on-week as the dollar was quoted at N1,465.67 compared to N1,480.65 quoted last week Friday at NFEM according to data from the CBN.

The CBN data showed that the naira witnessed a 0.7 percent or N10.67 for the four-day trading week to N1,465.67 on Friday from N1,476.34 closed on Monday at NFEM.

On a day-on-day trading account, the naira depreciated by 0.7 percent to N1,465.67 on Friday, down by N10.44 compared to N1,455.23 traded on Thursday at the NFEM, CBN data indicated.

The local currency strengthened by N35 or 2.4 percent week-on-week to close at N1,460 per dollar on Friday up from N1,495/$1 on Friday last week in the parallel market also known as the black market.

Daily, the naira weakened by N5 on Friday to N1,460 as against N1,455 closed on Thursday in the black market.

Nigeria’s external reserves rose 2.2 percent month-on-month to $42.35 as of September 30, 2025, up from $41.42 recorded at the beginning of the month, data from the CBN indicated.

Olayemi Cardoso, governor of the CBN has said that recent reforms in the foreign exchange market have helped restore investor confidence and boost the country’s external reserves, which now stand at over $42 billion.

Speaking at the maiden edition of the CBN’s lecture series at the Lagos Business School (LBS), Cardoso said ‘on foreign exchange, we introduced a willing buyer, willing seller framework and unified the multiple exchange rate windows. We also cleared the backlog of verifiable foreign exchange commitments, which has helped restore market confidence.’

He added that the Bank has taken deliberate steps to attract diaspora inflows and investment, ‘we created new channels to facilitate diaspora remittances and encourage investment, most notably through the Non-Resident Nigerian (NRN) platform, which enables Nigerians abroad to open bank accounts seamlessly from anywhere in the world.’

Cardoso emphasised that these reforms are part of a broader strategy to strengthen the economy and ensure long-term stability in the financial markets.

Yemi Kale, Group chief economist and managing director of Afreximbank, said the introduction of a more flexible exchange rate regime acts as a natural shock absorber, allowing the currency to adjust gradually to fluctuations in oil prices or global economic conditions, rather than triggering sudden crises in the balance of payments.