Category: Business Day

United States embassies and consulates worldwide say they will reduce public communications while Washington remains in shutdown.

In notices posted on official accounts, the missions said routine updates would be suspended ‘until full operations resume’, with exceptions only for urgent safety and security information.

However, the embassies noted that scheduled passport and visa services would continue ‘as the situation permits.’

Some of the embassies that issued the notice include those in Nigeria, Ghana, London, and Bangladesh.

The announcement comes as much of the US federal government halts operations following a funding impasse between President Donald Trump’s Republican Party and opposition Democrats.

The shutdown took effect at midnight after lawmakers failed to reach a deal. Trump has spent the past nine months cutting the size of the federal workforce, fuelling tensions over the current standoff.

Trump previously oversaw the longest shutdown in US history – a 38-day standoff from December 2018 to January 2019, which ended only after air traffic controllers walked off the job, forcing a temporary closure of LaGuardia Airport in New York.

This time, the president has threatened mass layoffs of federal workers, a move that could deepen the crisis if carried out.

The ongoing accusation gaining traction in the north, that Tinubu is short-changing the region in terms of project allocation, as well as political appointments, is driven heavily by partisan politics, says Abdulaziz Abdulaziz, Presidential aide on Print Media.

According to him, the Tinubu administration has been very considerate with the region, as several high-profile projects are in various stages of completion in most of the Northern states; this is something the people in the region should be grateful for.

Abdulaziz stated this recently in Kano, while interacting with members of the Kano `Correspondents` Chapel, noting that President Tinubu has also been magnanimous enough to continue with several projects started by the Buhari administration.

‘Of late, we have been hearing some people saying What is the president doing in the north? Beyond new projects, which there are many of them to count, when President Tinubu came, there were so many projects in the northern part of Nigeria. A lot of them were at a very early stage of commencement. I tell people, if this man is wicked or doesn’t like the north, he could leave these projects to be abandoned.

‘He can also withhold financing. If there is no financing, these projects will stagnate, and they will die naturally. But none of these projects that he inherited, which are massive, have actually stopped. And these projects are in billions of dollars.

‘If you look at the very important energy projects for northern Nigeria. The Ajaokuta-Kaduna-Kano gas pipeline, the AKK, was something that when we came, was not up to 50%. It has been continued. We are nearing completion.

‘This is somebody who is faithful. As I said, if he had wished, he could have sabotaged the funding for it or redirected the money to something else. If you look at the Kolmani oil prospecting, it’s ongoing. It’s something that was at an infancy level when this government came, but it’s continued.

‘If you look at the Abuja-Kaduna-Kano Road, it is a very important road. If not because of the altercation with Julius Bega that led to cancellation, revocation of the contract and the re-award, otherwise, it would have been completed by now.

‘But now, I drive from Abuja to Kaduna to Kano. At different points, you see the projects going on. The portion that remains between Zaria and Kano is almost completed. They are laying asphalt. If you come from Suleja, from the Suleja axis, you see work is ongoing on reinforced concrete. That is iron and concrete. That is very durable work that has been done. This project, the government devoted over N400 billion to complete it.

‘If you come to the Kaduna-Kano rail line, it was a stage when this government came in. But this government has continued. So many other projects like that. The Kano-Katsina-Maradi rail line is ongoing at a very speedy pace.

‘In fact, they are working literally 24 hours. Because I pass by the places on weekends and I see them working. If you go just outside Kano, around Janguza, once you cross the bridge from BUK, you will see them working up to now, as we speak. And so are so many other places and other projects like that.

‘I say the greatness of a government, for me, is in the way it continues with the project it inherited. The norm, usually in Nigeria, is that every government tries to do something new. So that it will be praised for doing this. Yet billions and billions of Naira get wasted in abandoned projects. But this president has strong faith in Northern Nigeria. And he is a nationalist. And that is why he has devoted a lot of attention and resources to ensure that projects in Northern Nigeria are not halted because a southerner is now the president.

‘No, he sees them as Nigerian projects. And coming to the new roads and other infrastructure, everywhere there are roads dotting Northern Nigeria and other infrastructure that the president is doing. If you look at it, people complain about the coastal highway.

‘But look at the Sokoto-Badagry Road. It’s a bit longer than the coastal highway. Only the coastal highway, because of the terrain, may be more expensive. But this one is a virgin road that is connecting communities, connecting businesses, connecting social interactions between the farthest place in the north to the creeks down south.

‘And along the road, there are economic activities that are being carried out along with the road, including dams, farming clusters, and all that. And this is why it is a very noble project. Over 60% of it is in Northern Nigeria.

‘And the work is ongoing on that. And work is ongoing from different sides, so that no part is left behind. In fact, on the northern plank, I think right now there are about three lots that are concurrently taking place. From Sokoto, it has started. From Kepi, it has started. So, this shows that the government is serious about. It’s not something that is just a name. It’s something that the government is doing to bring prosperity among our people and to also ease the movement of goods and services. That is a very important corridor for livestock and also goods from the south.

‘And on the other side, you know, there is the other road from Lagos to Abuja that is also being done, which is also connected. And then the Port-Harcourt -Maiduguri Rail line, the government has gotten funding for it, and work is starting. And that is also one very massive project that is to the advantage of Northern Nigeria.

‘So, talks about lopsided projects and all that, as I said earlier, are largely political. And the people saying those are not genuine. They say that those who advance their own political causes do so not because they mean what they say. Because any objective analyst, as I just pointed out, any objective analyst will see the economic benefits of this.

‘Sometimes people are myopic about issues like this. A country is not built in a fragmented arrangement. You can’t develop an economy in fragments. It has to be holistic. And some things are done not because maybe the president is from Kano or the president is from Ibadan, but because Kano or Ibadan is important and therefore needs to be developed along that line. For example, there were talks about when the Federal Executive Council approved the upgrade of Abuja and Lagos airports.

‘People were saying all manner of things. But any objective person would know, especially any modern educated person, that anywhere in the world, there are hubs. And you can’t say that you develop your airport or ports at the same rate because they don’t have equal importance. You can say because you say you like equity or you approve equity. And you say you will go and spend N300 billion to develop an airport based on equity. When nobody goes there, when there is no economic activity there.

‘But Lagos is a hub for Nigeria. Not even for Nigeria, you can say, even for West Africa. But modestly, we can say that for Nigeria, it is an airport that carries more than 70% of our passenger traffic. More than 70% of our passenger traffic is in Lagos. So why don’t you develop it? If you go to the UK, they have Heathrow in London. And Heathrow is not the same as maybe the airport in Sheffield or the one in Liverpool. It can be. If you go to Dubai, United Arab Emirates, people sometimes, especially people who are not really educated, don’t even know that Dubai is a city in a country called the United Arab Emirates.

‘But because the authorities understand the importance of having a hub and developing it, and that hub will end up servicing the country. So, Dubai is developed deliberately so that it keeps attracting money for the rest of the country. There are other cities. Even the capital, Abu Dhabi, is not a hub compared to Dubai.

So, in Niger, it’s the same thing. What is the percentage of our revenue coming through the artery of Lagos? It’s a lot. So why don’t you develop it? Because it’s just like a milking cow. If you have a cow that gives you a lot of milk, you should also take care of it so that you will get more milk from it. You can’t say that because the cow is this or is that, I won’t take care of it.

Because the most important thing is that when you feed it well, you will also get a lot of milk. So, if our airport is an ISO, and this is our major entry point, and then some investors or some people are not keen on coming because they feel we don’t have the right facilities, and some airlines cannot land, we are losing. So we ought to be very patriotic and genuine in terms of assessing some of these things’, he explained.

It is worrisome that President Tinubu is taking more loans despite the fact that Nigeria is having problems with the increasingly high cost of debt servicing. Debt servicing is taking more than 27 percent of Nigeria’s 2025 budget. Nigeria’s debt is about $100 billion, with $45.9 billion in external debt and $51.2 billion in domestic debt.

The budget for debt servicing is more than the budget of education, health and defence put together in the 2025 budget. President Tinubu is paying more attention to obtaining more loans and less attention to the economic consequences of the high cost of debt servicing in Nigeria.

Since assuming office in May 2023, President Bola Ahmed Tinubu has presided over what is becoming one of Nigeria’s most aggressive borrowing campaigns in recent history. In just two years, Nigeria has secured $29.2 billion in loans, a massive financial commitment that will shape the nation’s economic trajectory for decades. While many Nigerians seem focused on day-to-day survival, the mounting debt quietly grows in the background, accruing interest and setting the stage for future repayment by citizens, including those yet unborn. Tinubu’s $29.2 Billion Debt Train: Who’s Driving, and Who’s Paying?

Nigeria’s increasing loans and high cost of debt-servicing obligations pose a significant risk to the country’s economic stability and development. Public debt has surged rapidly in favour of unproductive rather than productive capital projects. This cycle has been exacerbated by the devaluation of the naira and persistent fiscal deficits. As of the first quarter of 2025, Nigeria’s public debt stood at ?149.39 trillion, a sharp increase from ?121.7 trillion in the same period of 2024. The Debt Management Office (DMO) reported that domestic debt comprised ?78.76 trillion (52.7%) of this total, while external debt was ?70.63 trillion (47.3%). This places the country’s debt-to-GDP ratio at 52 percent, a level that exceeds the legal threshold of 40 percent. According to a forecast by BudgIT, total public debt could reach ?187.79 trillion by the end of 2025.

Nigeria’s debt service to revenue ratio (DS/RR) has been a significant concern, but recent reform efforts have shown improvement, though it remains high by international standards. President Tinubu stated in November 2024 that the ratio dropped to 65 percent from about 97 percent when he took office in May 2023, though the AfDB reported it rose to 77.5 percent in 2024. The World Bank recommends a ratio not exceeding 22.5 percent, highlighting Nigeria’s challenges in managing its debt service obligations relative to its revenue. World Bank benchmark: The World Bank suggests a ratio below 22.5 percent as a sustainable level. Nigeria’s debt servicing ratio reached critical levels, sometimes exceeding 97 percent (meaning nearly all revenue went to debt servicing).

Presidential claims (Nov 2024):

President Tinubu reported a significant reduction to 65 percent in late 2024, from approximately 97 percent when his administration began.

AfDB Findings (July 2025):

A recent report indicates the ratio increased to 77.5 percent in 2024. Impact of reforms:

The government’s removal of fuel subsidies and unification of the exchange rate have helped increase revenue, but the gains have not yet matched the scale of spending needs.

Nigeria’s 2025 national budget includes a significant allocation for debt servicing, with figures ranging from ?13 trillion to ?16.3 trillion, representing a substantial increase from previous years. This allocation, which some reports state is 25 percent of the budget, has raised concerns among economic analysts due to its large size relative to other sectors and potential impact on the nation’s debt-to-GDP ratio. While the government is exploring ways to reduce its debt burden and improve revenue, challenges remain in achieving macroeconomic stability and fiscal sustainability.

Proposed Budget Size: Reports vary, but the budget is around ?55 trillion.

Debt Servicing Allocation: Ranging from ?13 trillion to ?16.3 trillion, depending on the report and specific framework used.

Budget Deficit: The proposed budget includes a deficit of approximately ?13.39 trillion.

One of the promises made by Nigeria’s President Bola Tinubu on assumption of office was that his administration would cut down on the over-reliance on borrowing for public expenditure. In fact, Tinubu said he was going to curtail the government’s borrowing so as to reduce the debt service burden on the country. Besides, Tinubu told Nigerians that his ‘fuel subsidy is gone’ pronouncement on May 29 would lead to significant savings and resource reallocation for the country. ‘We shall instead re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that will materially improve the lives of millions,’ he had said.

But many Nigerians were taken aback when the president sought the approval of the National Assembly for his government to access fresh external loans of $7.8 billion and pound 100 million as contained in the 2022-2024 borrowing plan of the federal government, despite having full knowledge of the country’s debt challenge.

Nigeria’s debt is worrisome because the public debt stock reached 149.39 trillion naira (approximately US$97 billion) by Q1 2025, a significant increase from the previous year. This brought the debt-to-GDP ratio to 52 percent, exceeding the 40 percent legal limit and raising concerns about the country’s fiscal sustainability and its ability to service its debt. Experts and lawmakers are alarmed by the rapid debt growth and the low returns on borrowed funds, which may require urgent parliamentary attention, transparent practices, and fiscal reforms to avoid potential economic catastrophe.

Christian Zionism distorts scripture to justify Israel’s occupation of Palestine, betraying Jesus’ teachings of universal love and justice, writes Reverend Frank Chikane.

In June, the Central Committee of the World Council of Churches (WCC) met in Johannesburg, South Africa. The Central Committee (CC) speaks on behalf of 352 member churches, representing more than half a billion Christians around the world. It comprises 158 members, the WCC regional presidents, and 100 advisors from the wider ecumenical movement. Its purpose is to make policy decisions and address issues affecting the life and witness of the churches. After deep lamentation and outrage as the crisis in Palestine and Israel escalates to unprecedented levels of starvation and collective punishment of the entire population of Gaza, the CC’s plenary session sounded four powerful, urgent, and long overdue calls to action.

Firstly, it called for the naming of the reality of the system of apartheid imposed by Israel on the Palestinian people. Churches, states and international institutions were urged to take a moral stand and immediately impose sanctions, divestment and arms embargoes to hold Israel accountable for its actions. Moral condemnation, after all, must have material consequences. The CC also demanded the end of the Israeli occupation of Palestine and the lifting of its unlawful blockade on Gaza. The CC also called for support for the resilience and witness of Palestinian Christian churches and communities to remain on their land and to freely practise their faith – a fundamental right that the Israeli government denies them.

Sadly, it has taken far too long for the WCC to issue a clear, truthful recognition of the roots and realities of Palestinians’ suffering and a call to the global fellowship of churches to speak with clarity, urgency, and commitment. However, these resolutions signal a bold break from past WCC positions on Israel’s eight-decade-long occupation of Palestine. Many churches and ecumenical organisations have prioritised unity, rather than justice, when it comes to the unbearable suffering inflicted by Israel on Palestinians. Some of us have skirted around this issue to keep the ‘peace’ in our congregations and to avoid offending our Jewish colleagues and risk being accused of antisemitism. This is unnecessary. As Christians, we make a clear distinction between the Jewish people, our siblings in faith, and the acts of the Israeli government that acts in the name of Zionism. As African Christians who have witnessed and experienced injustices and colonialism, standing on the side of justice should be natural to us. Our own scars of colonialism make it impossible to ignore the same pattern of land grabs, military occupation, and erasure playing out in Palestine.

God’s covenant with Abraham in Genesis 12:3, wherein He promises that ‘those who bless Israel will be blessed and those who curse Israel will be cursed’, is often wrested from its context and misquoted by the Israeli government and its Christian Zionist supporters in Africa. They want believers to accept that any critique of the state of Israel for its assault on international law and basic human rights and decency is to curse Israel and incur God’s wrath. Christian Zionism is, in fact, an annulment of everything that the just Christian gospel stands for.

It is in defence of the Christian gospel that we, as African Christians, must renounce, in the strongest terms possible, any attempts to defend the Israeli occupation and oppression of the Palestinian people using the Bible. The Christianity that Christian Zionists ask us to practise makes our faith a servant of oppression, similar to how the Bible was used to justify colonialism throughout Africa and apartheid in South Africa.

Jesus Christ Himself is Christian Zionism’s greatest adversary. Its teachings fly in the face of the central tenets of the covenant that Jesus introduced to the world. Neither Jesus nor His early apostles preached Christian Zionism. Christian Zionism distorts scripture to justify Israel’s occupation of Palestine, betraying Jesus’ teachings of universal love and justice.

Yet, some African Christian leaders and their congregations continue to misguidedly support Israel, even hosting Israeli ambassadors and government officials at their church services and praying for the Israeli military and government that is currently perpetrating a genocide in Gaza! This goes against the very essence of Amos 5:24 (NRSV), which implores us to ‘let justice roll down like waters, and righteousness like an ever-flowing stream.’

One of the central messages of the gospel is that those liberated by God cannot be made slaves by anyone. But this is exactly what is happening today in occupied Palestine. Freedom for one group cannot come through the oppression of another. Israeli security and peace cannot be built at the expense of Palestinian life, security, dignity and peace. It is time for Africa’s churches and ministries to support the WCC’s calls for justice and speak with one voice in opposing Israeli occupation, apartheid, and genocide. Africa’s silence would be a betrayal of both our faith and our history.

On October 1, 1960, Nigeria raised its green and white flag, declaring political independence. Yet independence has always been about more than politics; it is also about economics. From the trading magnates of the colonial era to the industrialists and financiers of today, Nigerian entrepreneurs have shaped the nation’s economic destiny.

As we commemorate Independence Day, it is worth reflecting on the business empires that emerged before independence, those that rose after independence, and the lessons they offer for a new generation of entrepreneurs.

The pre-independence Pioneers

In colonial Nigeria, indigenous entrepreneurs built fortunes against formidable odds. With little access to capital and markets dominated by European trading houses, they relied on vision, grit, and trust.

The following 10 figures, presented in alphabetical order, are not ranked or rated. They are highlighted as sources of inspiration for the next generation of Nigerians:

Chief Emmanuel Akwiwu – A transport entrepreneur from the Eastern Region, who built one of the early indigenous lorry fleets before independence.

Sir Mobolaji Bank-Anthony – Business magnate and philanthropist. Invested in real estate, aviation, insurance, and shipping from the 1940s and 1950s.

Chief Candido Joao Da Rocha – Lagos-based businessman of Brazilian descent; invested in real estate, water distribution, and banking.

Chief G.O. Adebayo Doherty – One of the first Nigerians to venture into shipping and maritime commerce, breaking a European monopoly.

Chief Hamzat Subair (Oyo) – Pioneer cocoa farmer and merchant, contributing to Nigeria’s global prominence in cocoa exports.

Sir Louis Odumegwu Ojukwu – Transport, textiles, and real estate tycoon; widely regarded as Nigeria’s first millionaire and founding president of the Nigerian Stock Exchange.

Chief Timothy Adeola Odutola – From cocoa trading to sawmilling, tyres, and manufacturing, he became one of Nigeria’s first industrialists.

Chief Igbinedion Okaigben Idahosa (Esama of Benin) – Started in timber and produce trading, later expanding into transport and hospitality.

Sir Alfred Rewane – Industrialist and political financier; combined commerce with activism in Nigeria’s independence struggle.

Chief Olatunde Johnson Shonibare – Prominent businessman and philanthropist who invested in real estate and supported educational institutions.

These pioneers proved that vision, trust, and boldness could create wealth even under colonial constraints.

The post-independence titans

Since 1960, Nigerian entrepreneurs have had to navigate military rule, policy shifts, oil booms, and global competition. Out of this turbulent context emerged titans whose influence extends across Africa and, in some cases, the world.

The following list of 10 names is again presented in alphabetical order, not as a ranking, but as inspiration for today’s entrepreneurs:

Mike Adenuga (Globacom and Conoil) – Indigenous telecom giant expanded into Ghana, the Benin Republic, and Côte d’Ivoire.

Folorunsho Alakija (Famfa Oil, Rose of Sharon) – Oil and gas exploration pioneer and a global advocate for women in business.

Aigboje Aig-Imoukhuede (Access Bank, Coronation Group) – Transformed Access Bank into a pan-African powerhouse; now expanding influence in finance and insurance.

Aliko Dangote (Dangote Group) – Cement, sugar, flour, and now petroleum refining; operations across more than 10 African countries.

Tony Elumelu (UBA, Heirs Holdings, TEF) – Banking footprint in 20 African countries, London, Paris, and New York; mentor to thousands of African entrepreneurs through the Tony Elumelu Foundation.

Mitchell Elegbe (Interswitch) – Fintech pioneer; expanded electronic payments across Africa with global partnerships.

Cosmas Maduka (Coscharis Group) – Built Coscharis into a pan-African conglomerate in autos, agriculture, and technology.

Femi Otedola (Forte Oil, Geregu Power) – Moved from petroleum marketing to power generation; active investor in capital markets.

Jim Ovia (Zenith Bank) – Founder of one of Africa’s largest financial institutions, with a presence in Ghana, Sierra Leone, South Africa, and the UK.

Benedict Peters (Aiteo Group) – Built one of Africa’s largest indigenous energy companies; diversified into power, mining, and agriculture.

These titans illustrate that Nigerian businesses are no longer confined to Lagos or Kano-they compete across Africa and influence the global economy.

Sidebar: From Pioneers to Titans – Shifts and Continuities

Pre-Independence Pioneers

Post-Independence Titans

Lesson for today’s SMEs

-Relied heavily on trust and personal reputation

-Built institutional brands with continental reach.

-Start with credibility, then scale.

-Operated within colonial restrictions, limited finance.

-Benefited from liberalisation and capital markets.

-Engage policy and position for global opportunities.

-Focused on trading, agriculture, transport.

-Expanded into industrials, finance, telecoms, fintech.

-Anticipate new frontiers (digital, renewable energy, AI).

-Wealth often stayed local or regional.

-Wealth is now continental and global.

-Design businesses to cross borders.

-Emphasised community trust and philanthropy.

-Emphasise foundations, CSR, and legacy.

-Business success is incomplete without social impact.

Lessons for the New Age

Integrity is capital – Pre-independence pioneers thrived on trust. In today’s transparent markets, credibility remains priceless.

Diversify intelligently – From Ojukwu’s ventures to Dangote’s empire, spreading risk while deepening expertise is key.

Leverage policy and partnerships – Both generations aligned with government priorities while seeking strategic alliances.

Build legacy, not just wealth – Many saw business as a platform for nation-building, not just profit-making.

Think continental, act global – Today’s entrepreneurs must see Africa as one market and the world as the next frontier.

Conclusion

At 65 years of independence (1960-2025), Nigeria is still navigating the journey from political to economic self-reliance. The stories of these 20 entrepreneurs, pioneers before independence and titans after, show that boldness and vision are timeless virtues. The pioneers built resilience out of scarcity; the titans scaled bold visions into global footprints. The next generation must combine the values of the past with the strategies of today.

The African proverb reminds us: ‘Until the lion tells his side of the story, the tale of the hunt will always glorify the hunter.’ Our entrepreneurs, past and present, are the lions telling Nigeria’s economic story, not as victims, but as empire builders.

For today’s business owners, the message is clear: honour the lessons of the past, adapt to the realities of the present, and build enterprises bold enough to shape the future. That is the true spirit of independence.

Samuel Oluwole, the chairman of Precision Aviation Handling Company Limited (PAHCOL), has been conferred with a Doctor of Transport and Logistics Management (honoris causa) by Pebble Hills University, Delaware, in the United States of America (USA).

Oluwole was honoured for his significant contributions to society, especially the nation’s aviation industry, where he had served for over four decades.

He was presented with the honour on Saturday, September 27, 202,5 at the University of Lagos (UNILAG), Lagos, during the fourth Strategic Summit on Good Governance with the theme: ‘The Africa We Deserve: Leadership, Governance, and Collective Progress – The Case of Nigeria,’ held by Pebble Hills University.

Presenting him with the honour, on behalf of the Board of Pebble Hills University, Ezekiel Isidahomen said Oluwole and three others were recognised with the doctorate degrees in various fields following their great achievements and considering their wonderful performance as international business practitioners, motivators and human resource experts.

Isidahomen congratulated the honorees and challenged them to continue to keep the flag flying in their different endeavours.

According to him, the recipients of the honorary doctorate degrees had proven to the university that they were prominent leaders in their various fields and persons of integrity who had demonstrated superior expertise and commitment.

He said: ‘The awardees were selected by the university. The university conducted serious screening and background checks before coming up with only four individuals who deserve their doctorate degree.

In his remark, Oluwole expressed delight with the University for the Recognition of his contributions to the aviation industry and leadership in Nigeria.

He described the recognition as a great and monumental moment, stressing that the recognition would inspire him to do more for society, especially the aviation industry where he belongs.

He assured the university and the players in Nigeria’s aviation industry of consistency in always ensuring the continued growth of the aviation industry in Nigeria.

He added: ‘I thank God that one is able to achieve this and thankful to my family. One has been able to attain a lot of things through the support of my family.’

Talking about the Nigerian aviation industry 65 years after independence, Oluwole said that the sector had come, yet with more to do especially in the area of domestic airline operators.

He emphasised that 40 years after the regularisation of the sector, flight delays and cancellations were still on the high side even after the liquidation of the former national carrier, Nigeria Airways.

Aniete Udoh, one of Nigeria’s most respected communications leaders, has stated that the future of branding will not be defined by the loudest voices but by the most authentic storytellers.

Udoh, who is the divisional director at Marketing Edge, argues that in a world where consumers are increasingly skeptical and quick to challenge brands, credibility and cultural grounding must sit at the heart of modern communications.

‘Your story is your brand. If you are not telling it, someone else is, or worse, nobody is hearing it at all. You don’t need to wait to become rich or famous before telling your story. Start now. Start where you are. With what you have,’ Udoh said.

With nearly two decades of experience across journalism, PR, brand strategy and marketing, Udoh has played a central role in elevating Nigerian creativity onto the global stage. Under his leadership, Marketing Edge evolved from a trade journal into one of Nigeria’s most influential communications platforms, becoming the first Nigerian media partner at global events such as Cannes Lions, the Loeries, and the New York Festivals.

His own expertise has also earned international recognition. In 2025 alone, Udoh was named to the PR Power List and appointed as juror for the Effie Awards South Africa, the AME Awards Grand Jury, and the Native Advertising Awards Global Panel. These appointments mark a shift in how Nigerian professionals are viewed on the world stage – as credible voices shaping, not just following, global trends.

Udoh has been a leading advocate for treating storytelling not as a marketing tactic but as a strategic foundation. He has pushed brands and agencies to recognise the value of micro and nano influencers, whose cultural fluency and grassroots credibility make them powerful communicators.

Data shows that Nigerian brands now dedicate up to 35 percent of their budgets to influencer campaigns, a development Udoh helped frame as an investment in authenticity rather than a passing trend.

Equally central to Udoh’s philosophy is ethics. He cautions against the temptation to chase short-term visibility at the expense of credibility. ‘The lesson is clear: long-term credibility trumps short-term visibility,’ he said.

In a country where public trust in institutions is fragile and social media backlash can be immediate, Udoh insists that campaigns must be rooted in cultural authenticity and social responsibility.

For young Nigerian professionals entering a N605 billion ($725 million) advertising industry still battling uneven growth and regulatory hurdles, Udoh’s career offers both a roadmap and a challenge. His rise shows that professionals can build platforms at home that meet global standards, gain recognition abroad without losing local grounding, and redefine branding through authentic, ethical storytelling.

As he puts it: ‘The future will not belong to the loudest people. It will belong to those who can tell their truth well.’

There is an African proverb that says, ‘The ruin of a nation begins in the homes of its people.’ At 65, Nigeria embodies that warning. It is a country that dazzles abroad but stumbles at home. Nigerians shine in Ivy League classrooms, Silicon Valley start-ups, Nollywood studios, and global laboratories. Yet, within its own borders, the so-called giant of Africa often lies prostrate, a giant in name but a dwarf in practice.

‘Governance treats Nigerians as obstacles to be managed, not citizens to be served. But governance rooted in care is not sentimentality; it is strategy. A government that guarantees education, health, and housing earns legitimacy.’

This contradiction encapsulates Nigeria’s narrative of independence: as a concept, the nation is significant; as an experiential reality, it falters. Every generation seems to know what must be done, but too many remain invested in doing what is wrong. Failure is inherited like family property, while decay is dressed up as progress. Each government leaves its citizens nostalgic for the very failures they once condemned. We idolise the past, mourn the present, and dread the future. What confronts us is not just a leadership crisis but a structural, cultural, and philosophical collapse.

Nigeria’s decline is no secret. It is etched in global rankings. In the 2024 UN Human Development Index, Nigeria sits at 161st of 193 countries, behind Ghana, Kenya, and even war-torn Syria. Poverty grips over 133 million people in a country blessed with oil and fertile land. The World Bank estimates youth unemployment at 33 percent, a ticking time bomb in a nation where 70 percent of the population is under 30.

Corruption remains the national operating system. Transparency International’s 2024 index ranks Nigeria 145th of 180 countries. Infrastructure is crumbling, and basic services, power, clean water, healthcare, have become luxuries. Instead of uniting citizens, the state institutionalises division by classifying them as ‘indigenes’ and ‘settlers’. Identity, not merit, determines access.

Governance at every level reflects disorientation. We build institutions without blueprints, spend without investment, and generate outputs without meaningful outcomes. Elections change faces but rarely systems. Without a revolution in thinking, victories at the ballot will only recycle dysfunction in new costumes.

Politics is not foreign to culture; it is culture made visible. In Nigeria, governance reflects the culture of short-term survival, not long-term planning. From elites who loot budgets to ordinary citizens who sell votes, complicity is widespread. The obsession with public office as the only route to success chokes innovation in business, arts, and science. Activism too often mistakes noise for impact, while social media becomes a substitute for strategy.

Yet the dysfunction is not total. There are flickers of progress: Edo’s digital education reforms, Lagos’ improvements in tax collection, and Enugu’s expansion of health insurance. These show that change is possible when leadership aligns with vision. But such examples remain exceptions rather than norms.

At 65, Nigeria can no longer afford cosmetic reforms. The rebirth must be intentional, designed around systems that reward excellence, build trust, and channel human potential into collective progress. reformEconomic productivity: Oil dependency has trapped Nigeria in volatility. Investment must shift to manufacturing, digital innovation, and agriculture value chains to absorb its restless youth.

Decentralization: A country of 200 million cannot be micromanaged from Abuja. True federalism, where states control resources and citizens hold governors accountable, is a more pragmatic route than endless centralisation.

Citizen responsibility: Leaders emerge from the culture that produces them. Nigerians must refuse to sell votes, glorify stolen wealth, or excuse mediocrity. Change cannot be outsourced solely to the political class.

Rebuilding Nigeria requires more than policy; it requires trust. Today, citizens pay bribes for birth certificates, healthcare, passports, and jobs. Governance treats Nigerians as obstacles to be managed, not citizens to be served. But governance rooted in care is not sentimentality; it is strategy. A government that guarantees education, health, and housing earns legitimacy.

Public servants trained in empathy as much as administration can restore dignity in everyday encounters.

Trust cannot be manufactured by propaganda. Nigerians are exhausted by slogans. What they demand is meaning, not marketing; results, not rhetoric. Leadership must be judged by integrity and delivery, not by propaganda machinery or personality cults.

Nigeria at 65 is not a failed state, but a fighting one. The problems are real, but so is the potential for rebirth. The same nation that exports talent across the globe can channel that brilliance inward. But this will not happen by accident. It must be demanded, designed, and delivered.

South Korea, also 65 years past its Korean War devastation, is now a global economic power. Rwanda, despite its dark history, has rebuilt its institutions with discipline and vision. Nigeria has no excuse. Age must come with wisdom, not perpetual folly.

If independence anniversaries mean anything, Nigeria’s 65th should not be a ritual of empty speeches but a moment of reckoning. It must call leaders and citizens alike to rebuild a nation that reflects the greatness of its people. The choice is stark: remain trapped in dysfunction or design a future worthy of the name ‘giant of Africa’.

At 65, Nigeria is too old to be this broken.

Commercial banks’ deposits with the Central Bank of Nigeria (CBN), through the Standing Deposit Facility (SDF), climbed to a record N5.5 trillion on Tuesday, following the repayment of Open Market Operation (OMO) bills

OMO refers to the buying and selling of government securities in the open market as a tool used to regulate liquidity, control inflation, stabilise interest rates, and maintain overall monetary stability. It is operated by the CBN.

The CBN repaid N731.13 billion to investors on Tuesday, pushing banks’ deposits with their regulator to an all-time high of N5.5 trillion, according to data. The surge followed an earlier increase on Monday, when the SDF reached N5.38 trillion, boosted by excess liquidity from the Federation Account Allocation Committee (FAAC) disbursements and OMO repayments.

In September 2025 alone, the CBN conducted OMO repayments worth N1.2 trillion. These included N731.13 billion on September 30, N254.9 billion on September 23, and N204.9 billion on September 16.

In the OMO bills secondary market on Tuesday, the overall average yield across the curve fell by 44 basis points to 21.00 percent, down from 21.44 percent the previous day, according to FSDH Research. Average yields across short-term, medium-term, and long-term maturities declined by six basis points, 80 basis points, and 48 basis points, respectively. The January 6, 2026 OMO bill saw strong investor demand, with yields dropping by 180 basis points.

Despite the rise in deposits, banks’ opening balance dropped to N2.297.63 trillion on Tuesday, representing a 12.19 percent decline compared to N2.338.97 trillion recorded on Monday.

Nigeria’s broad money supply (M3) surged to an all-time high of N199.5 trillion in August 2025, reflecting the CBN’s tight monetary policy stance aimed at curbing inflation and stabilising the economy.

CBN data further show that money supply increased by 11.5 percent year-on-year, reaching N119.52 trillion in August 2025, compared to N107.19 trillion in August 2024. On a monthly basis, it grew by 1.7 percent from N117.49 trillion in June 2025, though the data for July 2025 was not provided.

Currency in circulation recorded a significant decline of 18.84 percent, falling to N4.92 trillion in August 2025 from N4.14 trillion in August 2024. On a month-on-month basis, it declined marginally by 1.6 percent from N5.00 trillion in June 2025, according to the latest CBN data.

Credit to the private sector also contracted, dropping to N73.83 trillion in August 2025, a decline of 1.2 percent compared to N74.73 trillion in August 2024. On a monthly basis, private sector credit fell by three percent from N76.14 trillion in June 2025.

Similarly, credit to the government by banks fell sharply, plummeting by 25.75 percent year-on-year to N23.13 trillion in August 2025 from N31.15 trillion in the same period of 2024. On a month-to-month basis, lenders’ credit to the government declined by 2.48 percent from N23.72 trillion recorded in June 2025.

Commenting on these developments, Aloysius Uche Ordu, a member of the Monetary Policy Committee (MPC), noted in his personal statement of July 2025 that the monetary base continued to reflect the CBN’s tightening stance, with a moderation in currency in circulation. He added that capital market activities suggested improved transmission of monetary policy, while investor appetite for Nigerian treasury bills remained firm.

Also in her statement at the July 2025 MPC meeting, Lydia Shehu Jafiya, another committee member, observed that monetary aggregates rose, with Broad Money (M3) increasing by 43.65 percent year-to-date in June 2025, largely due to the growth in Net Foreign Assets (NFA). She explained, however, that this factor had minimal impact on inflationary pressures when compared with growth in Net Domestic Assets (NDA), which plays a more direct role in driving inflation.

Kenyon International, an indigenous oil and gas servicing company, has celebrated its 10th anniversary with a pledge to push Nigeria’s crude oil production beyond three million barrels per day, building on its track record of reviving idle and abandoned wells.

At the anniversary event held in Lagos, Victor Ekpenyong, the company’s Chief Executive Officer, said Kenyon had grown from its establishment in 2015 into a trusted partner in the energy industry by focusing on brownfield development and deploying advanced technologies to restore output.

‘Today, Nigeria produces over 1.5 million barrels of oil per day, and that continues to grow. We are proud that Kenyon has been part of this progress. Our mission is to continue reviving idle and ‘dead’ wells, introduce flexible evacuation technologies, and ultimately help Nigeria surpass 3 million barrels per day,’ Ekpenyong stated.

‘I believe that Nigeria’s hydrocarbons are the backbone of our industrial growth’, he added. ‘Our vision at Kenyon is to harness these resources responsibly by investing in technologies that allow us to process them locally, reduce dependence on exports, and create real opportunities for our people. This is how we intend to build energy security today while preparing for the cleaner alternatives of tomorrow’.

Looking ahead, he emphasised that Kenyon’s focus for the next decade will be innovation and collaboration, particularly in addressing production and evacuation challenges. He spotlighted the company’s deployment of Interwell MSAS technology, which restored more than 7,000 barrels per day without production disruption, delivering over 2 million barrels to date.

Kenyon International is an indigenous oilfield service company established in 2012, specialising in well intervention, completion, and control solutions. Providing services such as drilling completion support, wellhead maintenance, idle well management, and emergency blowout response, Kenyon has a proven track record in restoring production, including stabilising collapsing wells.

Meanwhile, Francis Nwaochei, Chairman of the Society of Petroleum Engineers (SPE) Nigeria Council, applauded Kenyon as a top supporter of SPE’s vision, particularly in advancing technology dissemination and youth development.

‘Kenyon has truly distinguished itself, not just through technical excellence but through a genuine commitment to people and industry growth.

‘Their support has helped us empower students, professionals, and the wider community, and I am confident that they will keep raising the bar for innovation and excellence in Nigeria’s oil and gas industry,’ he said.

As part of its anniversary initiatives, Kenyon International awarded scholarships to outstanding university students, reinforcing its commitment to youth empowerment and capacity building in the Nigerian oil and gas industry.