Category: Business Day

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Public school classrooms in Lagos were scenes of emotion and gratitude on Saturday as Page Financials surprised two long-serving teachers with ?100,000 each in celebration of World Teachers’ Day.

At Ago Iwoye Methodist Primary School, Ebute Meta, 34-year teaching veteran Mrs. Ipinlola Olaiya broke down in tears as representatives of the finance company presented her with the reward. She was one of two educators selected through a nationwide social media nomination campaign organised by the firm to spotlight unsung heroes in Nigeria’s education system.

The second beneficiary, Mr. Fashina, a Creative Arts teacher at Anglican Comprehensive High School, Ipaja, was equally overcome with emotion. On receiving his cheque, he exclaimed ‘Jesus!’ and revealed that his vehicle had broken down and he had been struggling to afford repairs. His principal described him as ‘a model teacher’ who had won Best Teacher of the Year multiple times.

From Left to right, Oluwaseyi Famodimu, Marketing Specialist, Page Financials,Stephanie Sokoh, Financial Advisor, Page Financials, Mrs Ipinlola Olaiya,Head Teacher,Ago iwoye Methodist Primary school, Ola Moses, Head Marketing and Corporate Communications,Page Financials

Explaining the motivation behind the initiative, Ola Moses, Head of Marketing and Corporate Communications at Page Financials, said the company wanted to recognise the quiet dedication of teachers who continue to serve despite limited resources.

‘Teachers are silent builders of our nation’s future. Their consistency, patience, and love for knowledge shape the leaders of tomorrow. Celebrating them is not just our duty, it’s our pride,’ Moses said.

Page Financials, established in 2014, provides consumer loans, investment options, and payment solutions to Nigerians. In recent years, the company has expanded its corporate social responsibility efforts to include programmes that celebrate individuals making a difference in their communities.

The company said the World Teachers’ Day initiative forms part of its broader drive to ‘encourage impact and service’ among Nigerians.

Governor Babagana Zulum Borno State has expressed concerns that if the Military does not scale up security around borders communities, the security situations at the border areas and the Borno State might get worse.

The governor expressed the fear following the rampaging attacks by the outlawed Group, the Boko Haram terrorists and its arch-rival Islamic State of West African Province (ISWAP) fighters which occurred around Bama and Gwoza axis in Borno State recently.

BusinessDay had reported how the terrorists attacked several locations, including Darajamal in Bama Local Government Area and Banki and Kirawa on fringe of Nigeria-Cameroon border community in Bama and Gwoza Local Government Areas, claiming the livies of over 65 civilians aside wanton private and public structures raze down.

Also, Governors Babagana Zulum of Nigeria’s Borno State and Mahamadou Ibrahim Bagadoma of Niger Republic’s Diffa Region had last Wednesday held a closed-door meeting in Diffa to re-strategise and find lasting security solutions around the Lake Chad shores.

Their discussions reportedly centered on joint patrols, intelligence sharing, and sustaining the recent gains that had pushed insurgents out of many of their former strongholds.

But, speaking on the frightening resurgence of terror attacks, Governor Zulum charged the Nigerian Armed Forces to scale up military operations in Borno State to avert the possibility of terrorists reversing the gains recorded so far.

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‘I am appealing to the Nigerian Armed Forces to be more committed. Above all, we need military operations. For sometime, military operations were not conducted in Borno State.

‘This has been instrumental to the renewed insurgency. We need to take note of one very important thing, continued military operations. There is need for us to sustain our military operations’, Governor Zulum said.

Nigeria must urgently pursue deep structural reforms to avoid an employment crisis by the end of the decade as its working-age population is projected to surge to 168 million by 2030, the Nigerian Economic Summit Group (NESG) has said.

The Group highlighted this on Monday during the launch of its landmark report at the ongoing 31st Nigerian Economic Summit (NES#31) in Abuja.

The report, titled From Hustle to Decent Work: Unlocking Jobs and Productivity for Economic Transformation in Nigeria, emphasizes the urgent need for a national agenda to create 27 million formal jobs by 2030 – an average of 4.5 million jobs per year – to prevent rising unemployment as Nigeria’s population rapidly grows.

The NESG report paints a stark picture of Nigeria’s labour market, with over 90 percent of workers engaged in informal employment, and more than 80 percent are concentrated in low-productivity sectors.

Without significant reforms, the group warns, the country could face a doubling of unemployment and underemployment rates over the next five years, trapping millions in vulnerable, low-wage work.

‘This is not just a labour market issue; it is a huge development challenge,’ Wilson Erumebor, Senior Economist at the NESG, said during his presentation of the report.

‘Without decisive reforms to create decent and productive jobs, an entire generation risks being trapped in vulnerable work that neither lifts families out of poverty nor moves the nation forward.’

The report identifies five key challenges stifling productivity and job creation: a shallow private sector base, widespread skills mismatch, poor educational outcomes, growth concentrated in sectors that do not generate large-scale employment, and critical infrastructure gaps, particularly in power and logistics.

To address these constraints, the NESG has proposed the Nigeria Works Framework – a six-pillar strategy focused on improving productivity across the economy.

The framework includes investing in skills for productivity, driving sectoral engines of growth such as manufacturing and ICT, supporting enterprise-led growth, formalising the informal economy, strengthening institutions and data systems, and adopting productivity as a core national metric.

‘The challenge before us is to move decisively into the consolidation phase, embedding reforms in ways that drive jobs, growth, and inclusion, while simultaneously laying the foundations for long-term transformation that secures prosperity for every Nigerian,’ Niyi Yusuf, Chairman, NESG said.

The report singles out four sectors – manufacturing, construction, ICT, and professional services – as holding the highest potential for large-scale job creation and productivity growth.

The NESG argues that targeted investments and policy alignment in these areas can unlock significant employment opportunities, especially for Nigeria’s growing youth population.

The Economic and Financial Crimes Commission (EFCC) on Monday, arraigned Oguibe Nkwachukwu, an accountant, and his company, Wifamapp Royalty Global Limited, for allegedly stealing ?200 million belonging to his former employer, Travelstar Web Logistics Limited.

The defendants were brought before R.A. Oshodi, Justice of the Lagos State High Court, Ikeja, on a 13-count charge bordering on stealing and dishonest conversion of funds.

According to the EFCC, Nkwachukwu, while serving as an accountant at Travelstar Web Logistics Limited, allegedly diverted several sums of money entrusted to him by the company for personal use.

One of the counts stated that he ‘dishonestly converted to his own use the sum of $36,000, property of Travelstar Web Logistics Limited,’ in violation of Sections 280(1)(b), (2)(f), and 287 of the Criminal Law of Lagos State, 2015.

Another count alleged that between January and July 2018, he converted an additional $156,000 belonging to the same company while acting as its accountant.

Nkwachukwu pleaded not guilty to all charges when they were read to him.

Prosecution counsel, A.A. Usman, subsequently requested a trial date and urged the court to remand the defendant at a correctional facility pending trial.

However, defence counsel, Kelvin C. Uzozie, informed the court that a bail application had been filed on behalf of his client and prayed that he be held in the EFCC’s custody instead.

Oshodi adjourned the case until October 17, 2025, for a hearing on the bail application and ordered that the defendant be remanded at the Kirikiri Correctional Centre in Lagos.

Two and a half decades after opening its gates to its first set of students, Whitesands School in Lekki, Lagos, stands as a living testament to a vision that began with simplicity but grew into a legacy of excellence, moral, academic, and human.

At its 25th anniversary celebration, the air was thick with nostalgia and pride. Alumni, parents, teachers, and administrators gathered not just to mark time but to reflect on how far the institution had come in shaping young men into disciplined, value-driven citizens.

The event, marked by mass, speeches, and nostalgic reunions, unfolded as both a thanksgiving and a reflection on a journey defined by vision, perseverance, and faith.

Founded in 2000 as the maiden project of the Ikota Educational Foundation (IEF), a non-profit NGO registered in Nigeria, the Lekki-based school was conceived as a model for holistic education. The foundation’s goal was to provide an environment where academic excellence and moral formation go hand in hand, with faith and family at the centre.

A vision rooted in character and faith

For Lorenzo David, the pioneer principal, Whitesands was more than an academic experiment, it was a mission. Recalling the early days, he described the challenges of starting with a small team and limited infrastructure but a deep conviction to build ‘men of integrity and service.’

‘When we began, the classrooms were still being completed,’ he said while speaking with journalists at the 25th Anniversary. ‘But the spirit of the school was alive, the desire to form young men who not only excel academically but live by values that endure beyond the classroom.’

Those early values, he explained, were anchored in Christian principles, discipline, and respect. The principal’s words drew nods from former students and parents, many of whom recalled similar experiences of formation that have guided them decades later.

The parents who took a leap of faith

Among the audience sat Ebiyemi Pinnick, father of the first admitted student, who recounted the uncertainty and faith that marked his family’s decision to enroll their son, Raymond Amanze Pinnick, in a yet-to-be-tested school.

‘Some of my friends said we were careless parents,’ he laughed. ‘When we came here 25 years ago, some buildings were still under construction. We didn’t know what would become of it. But we trusted the people behind the project, they looked serious.’

That leap of faith, he said, has since been rewarded. ‘Today, when I look at my son and other alumni, I see that while the boys were playful then, they were being built in character. They’ve become disciplined, responsible men,’ Pinnick said proudly. ‘I think I got more out of this school than my son probably did.’

His story mirrors that of several founding parents who took a chance on a school that was, at the time, little more than a bold idea and a promise of formation.

Forming men beyond academics

For the early graduates of Whitesands, the school’s most enduring legacy lies not just in academics but in moral grounding. Michael Agbim, a member of the pioneer set of 2006 and now a creative director and entrepreneur, said his six years at Whitesands shaped his values and work ethic.

‘You can get math and English anywhere,’ he said. ‘What set Whitesands apart was its deep-rooted Christian foundation, daily mass, meditation, and moral talks. It wasn’t just about academics; it was about building your conscience.’

He also credited the school’s community model, one that involved parents, teachers, and students, for giving him a sense of belonging.

‘The school always emphasised that education is a partnership. Parents were part of everything, from uniforms to formation activities. That made a difference,’ Agbim noted.

For Tosan Ayokunmi Wiltshire, the third head boy and now supervisor for Information, Intergovernmental Relations and Budget at Apapa Local Government, the Whitesands experience gave him confidence and a moral compass to navigate public life.

‘Whitesands was one of the greatest things that happened to me,’ he reflected. ‘It gave me the moral values and the confidence to take on the world. When we left school, we felt we were the best things after sliced bread,’ he laughed. ‘That aura stayed with us.’

Wiltshire believes the alumni community has much to give back. He revealed ongoing efforts to formalise an alumni bursary and scholarship fund to support indigent students.

A moral compass that transcends religion

For Pelumi Ladenegan, who is now a lawyer, Whitesands’ moral formation transcended religious boundaries.

‘I’m not a Catholic,’ he said, ‘but the moral teachings here were profound, sacrifice, kindness, orderliness, and punctuality. These are things I still carry with me 19 years later.’

Looking back on his school days, Ladenegan spoke fondly of the teachers who helped shape his journey, among them Tayo Fagbule, now the Editor of BusinessDay. ‘Mr. Tayo wasn’t just a teacher; he was like family, an uncle figure who guided me beyond the classroom,’ he recalled.

Asked if he would consider enrolling his future children at the school, he didn’t hesitate: ‘By the grace of God, absolutely.’

Strengthen family involvement in students’ growth

For Emeka Enemuoh, the current principal, the milestone is both a celebration and a reaffirmation of purpose.

‘Whitesands has never been just about academics,’ he said. ‘Our goal has always been to form men of character, men who will contribute meaningfully to society. We want our students to stand out, not only in their professions but in integrity and service.’

He explained that the school’s philosophy of integral education, a balance of intellectual, moral, and spiritual development, remains its strongest pillar.

‘We don’t only teach students to excel in exams. We train them to think critically, act responsibly, and live with purpose. Every teacher here understands that we are not just teaching subjects; we are forming lives.’

Reflecting on the vision behind making Whitesands a day school, he said it was a deliberate choice to ensure that parents remained active participants in their children’s upbringing.

‘It’s a day school because of our philosophy,’ he explained. ‘We want parents to see their children every day, to be part of their growth. If you send your child to a boarding school, you may not really know what’s going on until a term later. Here, the feedback is daily, and that makes all the difference.’

He added that the school’s emphasis on discipline and personal responsibility was designed to complement the home. ‘Education doesn’t happen in isolation,’ he said. ‘It happens when the school and the family work together. That’s why we made sure our model fostered that partnership.’

The 25th anniversary thus became more than a celebration, it was a testimony to a vision that continues to bear fruit, one generation of boys at a time.

As the countdown to the January, 2026 effective take off of two landmark Tax Reform laws gathers steam, wrong narratives and misconceptions about aspects of the new tax laws have also been on the increase. While some of the misconceptions are borne out of innocent ignorance, others are mostly from a place of political mischievousness. In this Explainer I will be addressing the misconceptions around the income tax provisions in the Nigeria Tax Act, 2025.

Over the past couple of months, I have noticed the following misconceptions and wrong narratives around the issue of income tax, many of which emanate from individuals or businesses who have clearly been evading income taxes:

1. Nigerians pay higher income taxes from January 1, 2026

2. Money in individual bank accounts would be automatically taxed by the government

3. Federal government is desperate to raise revenue by taxing the income of Nigerians heavily.

4. Tax laws will stifle productivity

I will briefly touch on each of these misconceptions, providing clarifications in layman terms.

Higher or Lower Income Taxes for Individuals?

The reality is that the income tax paid by MAJORITY of Nigerians will reduce following the new personal income tax provisions in the Nigerian Tax Act, 2025 that exempted individuals earning N800,000 and below per annum from paying income tax. What this means is that Nigerians earning minimum wage or below will pay zero income tax.

I understand some will argue that minimum wage is N70,000 per month, which translates to N840,000 per annum and ordinarily means a minimum wage earner still has N40,000 above the N800,000 exemption threshold that is subjected to an income tax of 15% under the new tax law. That is correct, but here is the catch, there is what is called TAXABLE INCOME and is not necessarily equivalent to the total income of an individual.

Taxable income is simply the part of the total income that can be taxed after allowable deductions have been made. Under the NTA 2025, you can deduct the following from your GROSS income to get your TAXABLE income:

a) NHIS contribution (5% of salary for most employees)

b) Annual rent (corresponding to 20% of the rent up to a maximum of N500,000)

c) National Housing Fund deduction (2.5% of gross pay)

d) Employee Pension contribution (8% of employee salary)

e) Life insurance premium for you and your spouse

In other words, a minimum wage earner claim some or all of these deductions and these will certainly drive down the taxable income within the exemption threshold of N800,000 per annum.

Let us do a practical calculation for an individual earning N70,000 monthly (minimum wage) who pays an annual rent of N200,000 in addition to NHIS, NHF and contributory pension deductions.

His gross annual income = N840,000

Pension contributions = N67,200

NHF deduction = N21,000

NHIS deduction = N42,000

20% of Annual Rent = N40,000

By the time you make these allowable deductions from the N840,000 gross income, the individual’s TAXABLE INCOME becomes N710,800. This falls well within the exemption threshold which means the individual will not pay any income tax.

If an individual earns N80,000 monthly, and we use similar deductions for NHIS, NHF and CPS while raising annual rent to N300,000 with 20% amounting to N60,000, the individual will still be exempt from paying income tax as the taxable income would be N799,200 – within the N800,000 tax exemption threshold. Even when we calculate for an individual earning an annual gross income of N1.2m, the individual may even fall within the tax exempt status depending on the deductions he or she claims or at worst the individual may just be taxed an effective tax rate of 2.5% under the new law as against 4.6% under the old law.

The tax band is progressive in nature and only makes the rich with reasonably much higher annual gross income to pay a little more than before, which is a fair system. Although, depending on the deductions they may claim, they can end up paying lesser income tax than before. This in itself opens a lot of opportunities for the economy especially the life insurance sector as well as the health sector since one can actually sign up for health insurance and/or life insurance in order to pay lesser income tax while at the same time benefiting from quality all-round cheaper healthcare offered by the NHIS for the family.

Below is a demo tax calculation for an individual earning an annual gross income of N50 million. The individual lives in an apartment he purchased with a bank loan of N80 million at an annual interest rate of 27% with a five-year tenor, making his annual interest payment to be approximately N4.32 million. This particular individual also makes N5 million contribution towards his pension and another N2.5 million NHIS contribution that covers himself, his spouse and four kids.

After deducting N5 million pension contributions, N2.5 million NHIS contribution and N4.32 million interest payment, his taxable income out of the N50 million gross income becomes just N35.18 million. However, this N35.18 million is not taxed a flat rate of 23% (under the old law, income above N3.2 million is taxed a flat rate of 24%), rather it is progressive – the first 800k is 0%, next N2.2m is taxed at 15%, next N9m is taxed at 18%, next N13m is taxed at 21% while the next N25m is taxed at 23%.

The income tax of this individual under the new tax laws is N7.02 million, which is basically 14.0% of his gross income – just 1.1% higher than his effective tax rate under the old laws. This is still by far very fair when you consider what is obtainable in many other countries of the world where effective tax rate can get to as high as 60% of taxable income.

Will income tax be automatically deducted from bank accounts?

The simple answer is NO. Taxes would not be automatically deducted from the bank account of Nigerians.

This misconception is probably because of the provisions in section 29 of the Nigeria Tax Administration Act which mandates banks and other financial institutions to furnish the tax authority on a quarterly basis information (name and addresses) about their customers with cumulative monthly transactions of N25 million and above for individuals or N100 million and above for a body corporate. Even though the information will help a tax authority know those ELIGIBLE taxpayers evading taxes, the provision does not amount to automatic deduction of taxes from the accounts.

Crucially, if your monthly cumulative transactions as an individual does not amount to N25 million and above or from N100 million for corporate bodies, this provision does not concern you in any way. Only about 5% of the population have bank accounts that have more than half a million in them. So, in essence, more than 90% of Nigerians, which includes all the poor and vulnerable people in Nigeria are not affected by this provision.

Is the Federal Government desperate to raise revenue by taxing the income of Nigerians heavily?

Again, the simple and short answer is NO!

The reforms in the income tax laws are not particularly meant for the federal government to raise more revenue by taxing Nigerians heavily, the reverse is actually the case. The tax laws are meant to relieve poor Nigerians of tax burden. Meanwhile, the greatest beneficiary of personal income tax revenues are the states because Section 3(2) of the Nigeria Tax Administration Act confers jurisdiction on the state tax authority in respect of tax on the income, profit or gains of individuals residing in a state. Therefore, personal income tax is part of the IGR sources of state governments.

The FG only retains income taxes from personnel of the armed forces and personnel of the Nigerian Foreign Service in addition to non-residents (those not living in Nigeria) who derive income or profit from Nigeria. Under the new tax laws, the FG has even exempted members of the armed forces from paying income tax. So, the federal government cannot raise revenue from the income of civilians living in Nigeria as that is the exclusive preserve of the states.

Also, the fact that the tax laws exempted Nigerians earning below N800,000 per annum from income tax shows that the tax laws are not necessarily about raising revenues but reducing tax burden on Nigerians so that they can have more disposable income. The tax laws simply tried to focus on increasing tax compliance by the high-income earners with the state governments being the ultimate beneficiary in any case.

Will the tax laws stifle productivity?

Definitely NOT!

The new tax laws are primarily meant to boost productivity and not stifle it. This is not difficult to prove. First, the wide range of exemptions for both individual taxpayers and small businesses clearly indicates an intention to bring relief to low income individuals and small businesses. Section 56 of the Nigeria Tax Act pegs the income (profit) tax rate for small businesses at 0%.

In section 147 (page 331) of the Nigeria Tax Administration Act, a small company is defined as a company with an annual gross turnover of N100m or less and with total fixed assets not exceeding N250m. This is basically 90% of businesses in Nigeria. A tax law that exempts over 90% of businesses in the country from paying profit tax cannot be stifling productivity under any circumstances!

In fact, the same section 56 of the Nigeria Tax Act pegs the profit tax rate for larger companies at 30% with a proviso that this rate shall be REDUCED to 25% from a date to be determined in an order issued by the President on the advice of the National Economic Council. This provision was a compromise position reached to allay the fears of the Nigerian Governors Forum who felt the initial proposal to progressively reduce CIT for large companies to 25% by 2030 would likely reduce revenue inflows into the federation account since CIT revenue is shared by the three tiers of government.

The provision allows the eventual rate reduction to happen when the states (who are represented in the National Economic Council) are confident that such a reduction will not adversely impact on the federation revenue inflows. The Council will then advise the President to proclaim the order reducing CIT to 25%. If the new tax laws were to be anti-productivity, the company income tax rate would have been jerked up to above the 30% rate in the old Income Tax law.

Conclusion

From the foregoing, it is evidently clear that the income tax provisions in both the Nigeria Tax Act and the Nigeria Tax Administration Act are people-friendly, business-friendly, pro-poor and formulated to stimulate productivity by reducing the amount of money businesses pay as profit taxes or eliminating the profit tax entirely for small businesses. It is important that states through their tax authorities massively educate residents on the correct provisions of the tax laws especially as it pertains to income taxes.

As I conclude, I must emphasise that tax is an obligation that citizens owe their country. There is no valid excuse for any ELIGIBLE taxpayer, especially those who are not classified poor, to shy away from paying their fair share of taxes. This also applies to eligible corporate taxpayers. The new tax laws makes tax evasion more difficult and will bring many eligible taxpayers, hitherto avoiding taxes, into the tax net. As more high net worth individuals and entities are captured in the tax net, they will have more motivation to demand for accountability from elected and appointed leaders across the three tiers of government who manage these tax revenues. This is potentially a very good news for accelerated national development.

The Chartered Institute of Personnel Management of Nigeria (CIPM), the apex regulatory body for Human Resource Management in Nigeria, has once again demonstrated its central role in shaping the future of people management in the country.

At a high-profile sensitisation workshop held at the Office of the Head of the Civil Service of the Federation (OHCSF), Abuja, Didi Esther Walson-Jack, the Head of the Civil Service of the Federation, unveiled The HR Initiative – a landmark reform aimed at professionalising Human Resource Management within the Federal Civil Service.

In her keynote address, Walson-Jack stressed the urgent need to reposition HR in government, describing it as the ‘nervous system of any effective organisation.’

She outlined that the reform, anchored on global best practices, would ensure that career progression into directorate-level roles requires professional certification in Human Resource Management.

Crucially, the OHCSF reaffirmed that CIPM is the only institution with statutory authority to certify HR professionals in Nigeria, in line with its enabling Act.

This positions CIPM as the indispensable partner in delivering the professionalisation agenda.

Mallam Ahmed Ladan Gobir, President and Chairman of the Governing Council of CIPM welcomed the reform, describing it as ‘a defining moment for Nigeria’s public sector.’

He noted that with CIPM’s decades-long commitment to advancing HR standards, the Institute is fully prepared to guide the civil service through this transformation.

‘CIPM is proud to play a pivotal role in shaping a new era of professionalism, competence, and accountability in the Federal Civil Service. This reform reinforces our mandate to develop ethical and world-class HR practitioners who drive sustainable people and organisational performance,’ Gobir said.

The HR Initiative will introduce a national HR competency framework, accreditation by CIPM and international partners, curriculum review for Management Development Institutes, and a transition plan requiring officers in HR roles to commence certification within 12 months. By January 2026, preference in HR postings will go to certified or actively certifying professionals.

The reform is in line with the Federal Civil Service Strategy and Implementation Plan 2021-2025 (FCSSIP25) and will institutionalise HR as a specialised, professional function rather than a generalist administrative role.

With this development, CIPM’s leadership as the statutory regulator of HR practice in Nigeria is further consolidated.

The Institute remains committed to partnering with government, professional bodies, and international organisations to ensure that Nigeria’s Federal Civil Service becomes globally benchmarked, citizen-focused, and future-ready.

The Federal Government has announced sweeping reforms to modernise agricultural education as part of efforts to strengthen food security and create employment opportunities for young Nigerians.

This is contained in a statement on Sunday in Abuja by the Director of Press and Public Relations at the Federal Ministry of Education, Folasade Boriowo.

Boriowo said the initiative, jointly driven by the Federal Ministries of Education and Agriculture and Food Security, aimed to update agricultural curricula and attract greater youth participation.

She quoted the Minister of Education, Tunji Alausa, during the official presentation of the new Agricultural Curriculum Framework reform, as saying that the reform was a pivotal step toward repositioning agriculture as a pillar of national development.

Alausa explained that the initiative aligned academic training with President Bola Tinubu’s vision for a technology-driven agricultural sector.

He expressed concern over the declining enrollment in agricultural programmes across tertiary institutions in spite of significant government investment in the sector.

‘Statistics from the 2024 Unified Tertiary Matriculation Examination (UTME) revealed that 47.92 per cent of admission slots allocated to agricultural courses remain unfilled.

‘Agriculture is a major national priority, but enrollment in agricultural courses in higher institutions is dropping.

‘In the last three years, there have been thousands of open slots, but only a fraction has been taken.

‘This is a serious gap, especially in an area that should ensure food security for Nigeria and make the country an export hub for agricultural products,’ he said.

However, Alausa noted that vocational and technical agricultural training had seen increased interest among young Nigerians.

‘Out of more than 900,000 Technical and Vocational Education and Training (TVET) applications recently received, more than 210,000 were for livestock farming alone.

‘Agriculture overall ranked close to garment making, which recorded more than 260,000 applicants.

‘This shows that young Nigerians are eager to gain practical agricultural skills, but the outdated tertiary curriculum has not kept pace with modern realities,’ he added.

The minister reaffirmed the government’s commitment to updating the curriculum to meet industry needs and support economic diversification.

He cited the Republic of Benin’s cotton processing success as a model for Nigeria’s efforts to link education with industrial value chains.

‘Benin moved from earning 500 million dollars in raw cotton exports to 12 billion dollars in processed products, employing more than 25,000 young people.

‘Nigeria will replicate this success through curriculum reform and practical agricultural education that supports our production zones and export diversification goals,’ Alausa said.

Also speaking, the Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi, emphasised that achieving food sovereignty required a comprehensive review of agricultural education.

‘As Nigeria seeks to diversify, we need more people engaged in agricultural enterprise. Food security cannot be achieved without aligning our education and training systems with national priorities. ‘Our curriculum must equip graduates not just with theoretical knowledge but with practical skills and innovation to drive agricultural transformation,’ Abdullahi said.

Unlike advanced economies, where it is given, mortgage in Nigeria and, indeed, most of Africa, is a daydream, and those who desire it simply indulge in wishful thinking.

This is because, as an immature economy, policies in Nigeria change frequently, disrupting long-term planning and investor confidence. For instance, inconsistent foreign exchange policies affect lenders with dollar-denominated funding.

Similarly, shifts in regulatory capital requirements, monetary tightening, or sudden withdrawal of subsidies directly impact mortgage pricing and supply. Leapfrog

Experts are of the view that long-term housing finance thrives in stable, predictable policy environments which explains why they canvass dialogue between the government and mortgage stakeholders.

For affordable mortgage to be possible and accessible to those who need it, the government-mortgage stakeholders dialogue is not only urgent, but also essential to create enduring frameworks.

Additionally, some lessons have to be learnt from successful housing finance models around the world that can offer valuable insights for reforming Nigeria’s mortgage system.

‘One critical lesson is the role of government-backed guarantees, such as those provided by the Federal Housing Administration in the United States. These guarantees reduce the risk for lenders, making them more willing to extend long-term credit, particularly to first-time and low-income buyers,’ Adedeji Ajadi, CEO, Mortgage Banking Association of Nigeria (MBAN), said.

Another thing that has to happen, according to Ajadi, is the development of secondary mortgage markets, which help to free up capital for new lending. He explained that, by allowing mortgage lenders to sell off existing loans, they can recycle funds and maintain liquidity, ultimately expanding access to mortgages.

Adedeji, who is also the executive secretary of the association, added that inclusive credit scoring also emerges as a transformative approach, pointing out that in many advanced markets, lenders increasingly rely on alternative data, such as rent history, utility payments, and mobile money transactions, to assess creditworthiness.

‘This broadens the pool of eligible borrowers, particularly those in the informal sector who may not have traditional credit records. Subsidised interest schemes targeted at low- and middle-income households further enhance affordability,’ he explained.

It is expected that these these programmes reduce the effective interest rates on mortgage loans, making monthly payments more manageable and encouraging uptake among underserved demographics.

Digitising land registries is another game-changing reform, because by reducing fraud, ensuring transparency, and speeding up property verification, digitised systems allow for quicker loan approvals and greater investor confidence in the housing market.

To achieve this goal, integrated housing-finance strategies are crucial. Successful systems align housing finance with urban planning and development efforts. This means coordinating land use, infrastructure development, and mortgage financing in a holistic manner to ensure sustainable housing delivery.

Collectively, these lessons point toward a more inclusive, efficient, and scalable housing finance ecosystem, one that Nigeria can adopt to meet the growing needs of its population.

A functional mortgage system depends, to a large extent, on interest rates in the financial system. In Nigeria, the rates are just too high at between 17 percent and 27 percent. Ajadi suggests that to effectively bring down these rates and extend loan tenures in the mortgage market, some steps have to be taken.

‘An ensuring access to long-term capital is crucial. This can be achieved by deepening the secondary mortgage market through institutions such as the Nigeria Mortgage Refinance Company (NMRC), which plays a vital role in providing long-term liquidity to mortgage lenders.

With more refinancing options available, lenders are better positioned to offer affordable and longer-term mortgage products. Secondly, subsidised financing must be part of the solution. Government interventions, including special interventions like MREIF and Family Homes Funds, targeting low- and middle-income earners, can significantly reduce the cost of borrowing, making home ownership more accessible to many people,’ he said.