Category: Business Day

The Nigerian Export-Import Bank (NEXIM) has posted an operating profit of ?30.47 billion for the 2024 financial year, representing more than double the ?13.75 billion recorded in the previous year.

The performance highlights the Bank’s financial resilience and operational efficiency in delivering on its development finance mandate.

Reflecting this growth, Agusto and Co. Limited, a leading credit rating agency, assigned NEXIM Bank a Bbb+ rating, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria. Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has continued to maintain robust liquidity and capital adequacy ratios, with notable expansion in its loan book and equity instruments. Its financing interventions cut across key sectors, including manufacturing, agriculture, solid minerals, and services. According to Abba Bello, the bank’s Managing Director, NEXIM has intensified support for non-oil exporters, disbursing over ?495 billion, which has created and sustained more than 36,000 direct and indirect jobs.

Among the Bank’s flagship initiatives are: The Regional Sealink Project, a public-private partnership aimed at improving maritime logistics across West and Central Africa.

Promotion of Factoring Services, providing alternative export financing for SMEs. Joint Project Preparation Fund (JPPF), launched in partnership with Afreximbank to enhance the bankability of export-oriented projects.

Tailored Mining Finance Schemes, including contract mining, equipment leasing, and buyers’ credit/export credit agency (ECA) financing, designed to unlock the sector’s export potential.

Bello reiterated that NEXIM remains committed to strengthening local processing capacity, boosting foreign exchange inflows, and advancing Nigeria’s position in global trade by moving the country up the commodity value chain.

Governor Dikko Umaru Radda of Katsina State has extended his felicitations to teachers across the state on the occasion of the 2025 World Teachers’ Day celebration.

Radda’s message was contained in a statement by Ibrahim Mohammed, Chief Press Secretary to the governor and made available to newsmen on Sunday in Katsina.

The statement reads, ‘In a goodwill message, Governor Radda described teachers as the cornerstone of educational development and nation-building, whose dedication and sacrifices continue to shape the future of Katsina State and Nigeria at large.’

The Governor said that, ‘his administration’s vision with the 2025 World Teachers’ Day theme: ‘Recasting Teaching as a Collaborative Profession,’ emphasizing that teaching must evolve beyond individual efforts to embrace partnerships, teamwork, and shared responsibility among educators, parents, communities, and government.

‘Teaching is not a solitary endeavor. It thrives on collaboration, mutual support, and the collective commitment of all stakeholders to create enabling environments where our children can learn and excel.’ He further reaffirmed, ‘his administration’s commitment to promoting collaborative teaching approaches through continuous professional development, modern infrastructure, digital learning tools, and platforms that encourage peer learning and knowledge sharing among teachers.’

Radda particularly noted that his government has invested significantly in teacher welfare, recruitment, training, and capacity building, reflecting the administration’s belief that well-supported teachers are central to quality education delivery.

He commended Katsina teachers for their resilience, professionalism, and dedication, particularly in navigating the challenges of modern education while maintaining high standards of excellence.

‘On behalf of the government and people of Katsina State, I celebrate every teacher today. Your contributions to our society are immeasurable, and we remain committed to ensuring you have the resources, recognition, and respect you deserve,’ the Governor concluded.

On Wednesday, October 1, 2025, a radio presenter greeted his many fans and listeners with ‘Which Way Nigeria?’, a song released in 1984 by Sonny Okosun, a late musician.

The song, which underscored a sense of directionlessness that still defines Nigeria’s political landscape after 65 years, also set the mood for the usual calls and commentaries by the listeners. But the listeners’ views were mixed, with more seeing no reason to celebrate that day, especially as the government cancelled the colourful parade, which many look forward to on Independence Day.

But away from the less cheers of October 1, 2025, the positive energy of the over 40,000 people, who gathered at the Lagos Race Course (now Tafawa Balewa Square) in October 1, 1960 to witness the lowering of the Union Jack and the raising of Nigeria’s new green-white-green flag, still speaks volumes on hope for the country.

As some observers have noted, the country may have seen more challenges in the six and half decades of her existence, but it is not all negative for these past years.

In the 65 years of independence, Nigeria, according to some observers, has faced legions of socio-economic and political adversities, especially a terrible civil war at the infancy, a number of economic recessions, political and social upheavals, religious riots and deepening trust deficit.

Also in the last 65 years, social cohesion has remained a scarce commodity in the country as it battles ethnic divisions and dangerous rhetoric from people of various ethnic hue, the observers pointed out. But their excitement is that the country has continued to trudge on despite her many challenges.

‘No African country, even across the world, will still be standing for 65 years with all the challenges Nigeria has faced and is still facing,’ Andrew Osaghele, an assistant director at a federation government parastatal, said.

‘I think, those who call us ‘Giant of Africa’ are seeing what we citizens do not see. We are truly a giant that has refused to go down despite the persistent attacks’.

Toeing the same lane, Olumide Ibidapo, economist and academic, noted that in 65 years, Nigeria has survived eight economic recessions, yet still standing.

‘From our first recession in 1967, we have had others in 1975, 1978 and 1981. But our worst have been the 2016 and 2020 recessions, yet we survived them. We have reasons to celebrate, at least, being together at 65 and still pushing harder. It is not all about negative things,’ Ibidapo said.

Though Nigeria lost its place as the largest economy in Africa to South Africa, and falling further to the fourth position, Ibidapo assured that the country will regain its continental economy leadership position soon.

‘South Africa is just the largest economy in Africa by nominal GDP, by the time the reforms of the current administration start yielding results, Nigeria’s economy will pick up and we will rise again. Don’t forget, we have fallen on that rating before and also regained it. We will rise soon,’ he noted.

Looking back at the country in 1960, Simon Pam, a Kaduna-based serial investor, noted that even the colonial masters will commend the strides achieved since then, especially in infrastructure.

‘There was no Abuja in 1960. Every visitor commends the city’s beautiful landscape, serenity, sense of organisation, more civilized style and security.

‘So, let’s be proud of something and not always complaining when outsiders are even envying what we look down on,’ Pam said. Pam, a Vom, Plateau State-born hotelier, manufacturer and an agro-entrepreneur, insisted that Nigeria has recorded remarkable growth in her 65 years nationhood, just that the rate has not been as fast as many desired.

‘You cannot say that Nigeria is stagnant for 65 years. I used to live in Lagos, when my father was serving in the army and I know how things have changed for good now.

‘Just go to Banana Island or Lekki, which used to be all swam till Eleko, the development will amaze you. Then, Eko Atlantic City is rising to become the future capital of Africa. It is twice the size of Victoria Island and the cranes have been raising the skyscrapers there. Let’s be hopeful for our country and do our part,’ Pam urged.

Citing example with Kaduna State, he noted some governors are doing even better than the president.

‘Since Uba Sani took over, insecurity has declined tremendously in Kaduna State without the huge budget spent in the past by Governor El-Rufai. The federal government should learn from him.

‘I learnt that the Oyo, Abia and Enugu governors are doing well. These are good leadership example to cheer for in our 65th independence,’ he said.

For Kenneth Orhue, a youthful returnee, the job opportunities in the country are huge draws for the diaspora.

Orhue, a software engineer, who works with a tier-1 bank, argued that if the country is that bad, in terms of unemployment and insecurity, why are other nationals trooping in good numbers.

‘Forget about the minimum wage, the plum jobs are here in the country, even in government agencies.

‘We don’t see such opportunities, but the Lebanese, Chinese and especially Indians, are seeing and taking advantage of them,’ he said.

‘I see many of them at Dangote Group, Globacom, Airtel, Lafarge, Indomie and name them. Why are they here if the country is not making any stride? ‘It is our wrong notion that everything good is abroad and also hope that foreigners are the ones to fix the country that are keeping some people down in the country. The country is rising, let’s rise with it, that is why I returned from the UK and I don’t have any regrets living and working here.’

Orhue points to the Lagos and Abuja modern rails as infrastructure to commend, expand to reach more passengers and replicated across cities in the country.

For Chijoke Umelahi, an Abuja-based lawyer, the major challenge the country is facing is just leadership, which, if sorted, the prosperity that will envelope the country, will be tremendous.

In the 65 years, Umelahi noted that Nigeria has witnessed some of the best leaderships in Africa, especially in the First Republic when founding fathers like: Nnamdi Azikiwe, Obafemi Awolowo, Ahmadu Bello, Tafawa Balewa, Michael Okpara, among others, led by example.

‘I urge those who are critical about leadership in Nigeria to check the feats of the premiers of the various regions then. They were all focused on developing their regions, across human capital, infrastructure, industrialisation and they harnessed resources in their regions to fund their developmental needs,’ the former Abia lawmaker said.

‘So, the lack of leadership today is just due to the rot in the system that has been institutionalised, especially among the political elite.

Olubunmi Oni, the Head of Service (HoS) of Oyo State, in collaboration with her siblings, has awarded free scholarships to 45 students in honour of their late parents.

Speaking with journalists in Ilorin, Kwara State, Oni explained that the initiative was introduced to commemorate the 60th wedding anniversary of their late parents, Joshua Ogunkeyede and Rachel Ogunkeyede.

She noted that the scholarship scheme is aimed at supporting indigent students and ease their academic journey. Since its inception in 2024, the programme has benefitted 45 pupils across different levels of education.

According to Oni, the scholarship cuts across the six geopolitical zones of the country, and it is part of the legacy their parents left behind.

‘Our parents taught us to do good within our capacity to all men. We pray this will continue. It started in 2024, and we believe we will be able to do more for indigent students who apply,’ she said. The HoS added that the scholarship covers pupils in primary and secondary schools, as well as undergraduates in tertiary institutions across various disciplines. In some cases, brilliant students are provided with laptops, while indigent beneficiaries receive monthly stipends.

Oni further explained that the programme is both a celebration of their parents’ union 60 years ago and a continuation of their values. She recalled that Joshua Ogunkeyede passed on in 2022, while their mother, Rachel Ogunkeyede, died in 2014, describing them as humanitarians who instilled discipline and nurtured a culture of giving back to society.

She added that the initiative complements government efforts to ensure Nigerian children access quality education and become productive citizens.

Appealing to well-meaning individuals and organisations to support similar causes, Oni said:

‘There is no amount that is too small. We started this initiative after the passing of our parents. Earlier, we sponsored some students in our hometown church, Emmanuel Anglican Church, Esa-Oke, in 2024 to mark 10 years of our mother’s passing. We are comforted knowing that we are doing what they would love their names to be remembered

Tunde Bakare, founder of the Citadel Global Community Church and a prominent voice in Nigeria’s political discourse, has once again stirred conversations with his refusal to bow to pressure from political heavyweights urging him to join the African Democratic Congress (ADC). Speaking at the maiden edition of the Citadel School of Governance Dialogue Series in Lagos, Bakare made it clear that his political convictions remain rooted in principle, not party persuasion.

The event, themed ‘Nigeria at 65: Historical Reflections, Futuristic Projection’, drew leaders, scholars, and civic participants who came to discuss the country’s democratic journey and what lies ahead. But the conversation took a political turn when Bakare revealed that several influential figures had approached him to align with the ADC, a party many see as positioning itself as an alternative to the ruling All Progressives Congress (APC).

According to Bakare, the pressure has been both persistent and personal. ‘There has been a lot of pressure on me from who is who to join ADC,’ he said. ‘They come to my home. Even while I was abroad, the hierarchy of that party kept calling, saying they needed my voice.’

He disclosed that the persuasion extended beyond casual invitations, noting that a former governor and a former minister from the South-West were among those urging him to make the move. In a political climate where defections have become a common survival strategy, Bakare’s revelation underscores how political parties continue to court prominent individuals to bolster their credibility ahead of the next electoral cycle. However, Bakare’s response was firm. ‘I am not going to take part in ADC,’ he declared. ‘The last time I knew about ADC was about a plane that crashed. I wish them well, because we need a robust opposition. But you don’t birth a child called APC and then try to kill it yourself. We are not going to have another Awolowo Akintola crisis in the South-West.’

His reference to the historical rivalry between Chief Obafemi Awolowo and Chief Samuel Akintola, which fractured the political landscape of the South-West in the 1960s, drew attention to what he perceives as a potential repeat of political division within the region. For Bakare, unity, not factional competition, remains the antidote to the region’s and by extension, the nation’s political instability.

The cleric’s statement also sheds light on the fragile state of political alliances within Nigeria’s democratic system. With the 2027 elections drawing nearer, several parties have intensified efforts to recruit new members, especially from among public figures who command credibility and public trust. Bakare’s name, long associated with advocacy for good governance, continues to hold sway both in religious and political circles. While many recall his previous involvement in politics-particularly his role as running mate to President Muhammadu Buhari under the Congress for Progressive Change (CPC) in 2011 Bakare has since positioned himself as a moral voice in governance rather than an active partisan player. His refusal to join ADC appears to reinforce this stance.

Political analysts have interpreted his comment as a subtle message to political actors in the South-West who may be plotting new alignments. By invoking the historical tension between Awolowo and Akintola, Bakare is cautioning against repeating the mistakes of the past where personal ambition and rivalry undermined collective progress.

Some also see Bakare’s statement as a reminder of the importance of ideological commitment in politics, something that has become increasingly rare in Nigeria’s shifting political terrain. ‘Bakare is not just rejecting ADC; he is rejecting the culture of opportunism that dominates our politics,’ said a political commentator at the event.

The cleric’s decision to stay away from the ADC does not, however, mean he is retreating from political engagement. His comments during the dialogue series suggest that he remains deeply invested in Nigeria’s future. He spoke passionately about the need for ethical leadership, national unity, and youth-driven innovation as key factors that could shape Nigeria’s next phase of development.

For Bakare, politics is not merely about party membership but about purpose. He emphasised that true leadership requires consistency and conviction, not the constant shifting of allegiances. ‘We must rise above political manipulation,’ he said. ‘If our goal is truly to rebuild this nation, then we must focus on building character before seeking power.’

Observers note that Bakare’s position reflects a growing sentiment among Nigerians who are disillusioned by endless defections and recycled political faces. His refusal to join ADC may resonate with citizens who view integrity as a rare commodity in the country’s leadership.

Nonetheless, his remarks may not sit well with some of his political peers who see party expansion as essential to challenging the dominance of the ruling APC. The ADC, for instance, has been trying to reinvent itself as a home for reform-minded politicians and technocrats. Bakare’s rejection could therefore be a symbolic setback for those seeking to use his influence to strengthen the party’s image.

Still, his call for a ‘robust opposition’ reflects an understanding of the need for political balance in a democracy. Bakare acknowledged that Nigeria’s system benefits from competing voices and ideas-but insisted that such competition must not come at the expense of unity.

Akwa Ibom State Government has explained why it has relocated its CNG bus terminal site from Odiok Itam in Itu Local Government Area to Obio Offot and Ikot Akpe communities in Uyo Local Government Area, saying it is for enhanced accessibility.

Governor Uno Eno noted that the decision to relocate the terminal after much consideration was made would ensure better accessibility for residents of the state.

He disclosed that the CNG Bus Terminal would consist of a gas station, Training School, repair workshop to train engineers, CNG technology and a maintenance unit. The governor who made this known during an inspection of the new site commended the host community for their cooperation in ensuring the success of the project, urged youths in the area to participate in the construction and protection of the facility from vandalism.

It would be recalled that in 2023, the Federal Government launched the Compressed Natural Gas (CNG) buses through the Presidential CNG Initiative to reduce fuel costs, create jobs, and promote environmental sustainability by transitioning from petrol and diesel to CNG-powered vehicles.

To ensure that Akwa Ibom benefits from the initiative, the State Government through the Ministry of Transportation in collaboration with the Central Bank of Nigeria ordered 50 CNG buses to improve transportation in the state.

With the governor on the inspection were the Deputy Governor, Senator Akon Eyakenyi; Secretary to the State Government, Enobong Uwah, and other members of the State Executive Council including the Commissioner for Transport, Anthony Luke.

Oba Rashidi Adewolu Ladoja, Olubadan of Ibadanland, has promised to promote justice and fairness in his reign as he is no longer a politician.

Olubadan, who was a former governor of Oyo State, made the promise while receiving some eminent Nigerians, who paid homage to his palace recently.

They include: Abubakar Atiku, former vice president in company of Nasir El-Rufai, former governor of Kaduna State, Liyel Imoke, former governor of Cross River, Iyorcha Ayu, former senate president, among others.

Oba Ladoja, who was installed as the 44th Olubadan of Ibadanland recently, welcomed the delegation and assured that he would use his reign and the rest of his life to serve Ibadan people, Oyo State, Yorubaland and Nigeria at large. ‘I promise to make everybody proud of me as the Olubadan of the ancient city, by ensuring fairness and justice for all,’ he said.

Recalling his good old times with Atiku and other politicians in the country, he said that as the Olubadan, he is no longer a politician.

The former governor recalled, ‘We started from SDP, we were in exile together, we were in PDP together. When I wanted to create an identity, I went to the Accord Party, which became a household name here. I know you politicians have a way of coming back. ‘I was an active politician before but with my new status now, I have to quit politics, but am a father to all now’.

However, Atiku congratulated the monarch and said that the delegation regretted not attending his coronation.

‘It was not intentional, protocol arrangements did not allow us to come during the coronation, not that we don’t want to come,’ Atiku said.

He pointed out that Oba Ladoja had played a crucial role in nation-building saying, ‘We are here to say congratulations to the new Olubadan of Ibadanland, Oba Ladoja, we know your roles and relationship with some of us’.

Meanwhile, the new Olubadan of Ibadanland has unveiled his socio-economic plans for the ancient city by assuring investors of an enabling environment.

While speaking at a thanksgiving service in his honour at the Ascension of Christ Catholic Church, Bodija, Ibadan, he called on both local and foreign investors to come to Ibadan and invest, assuring of a favourable environment. ‘My major assignment as the Olubadan of Ibadanland is the growth of Ibadanland. I implore investors to come and invest in Ibadan as I will collaborate with the government at all levels to ensure that Ibadan and Oyo State at large maintain their pace-setter status,’ the royal father said.

As part of its efforts to empower women economically, the Renewed Hope Initiative (RHI) in conjunction with the Tony Elumelu Foundation has today 3rd October, 2025, launched the Women Economic Empowerment Programme in Imo State and other states of the country and including the FCT.

Flagging-off the programme at the Banquet Hall, Government House Owerri, the First Lady of Nigeria, Oluremi Tinubu, in her address which was read by the wife of the Imo State Governor, Chioma Uzodinma, disclosed that the economic empowerment programme is about supporting the entrepreneural spirit of women traders and small scale business owners who each day determined to provide for their families, educate their children as well as uplift their communities.

She applauded the Tony Elumelu Foundation for donating the sum of N1 Billion to the Renewed Hope Initiative (RHI) to support 18,500 women across the nation, with 500 women from each of the 36 states and FCT will receive N50,000 to scale up their businesses.

Read also: Six varsities to benefit from N10m student-entrepreneurs, small-scale businesses grants

She prayed that the act of generosity will inspire many across the nation to sustain their efforts.

The First Lady further disclosed that the Governor of Imo State in his magnanimity increased the Tony Elumelu kind gesture by adding another N50,000 each making it N100,000 to be given to the pre-selected beneficiaries from the 27 Local Government Areas of Imo State.

The President’s wife emphasized that the empowerment is not a loan, but a grant; a seed of Renewed Hope Initiative to help them re-capitalize their existing businesses. And, ‘it is my belief that when you empower a woman, you empower a household, a community and indeed a nation’, she said .

She expressed gratitude to Governor Hope Uzodinma and his wife Chioma for all their support in executing all the programmes of the Renewed Hope Initiative (RHI).

Anata Nigeria, one of the country’s most dynamic real estate investment firms, is expanding its portfolio with high-value residential and commercial projects aimed at High-Net-Worth Individuals (HNWIs) and global investors.

Through strategic estates and mixed-use developments across Lagos and beyond, the company offers investors sustainable rental income and strong capital appreciation.

Victory Johnson, Chairman/CEO described the vision as ‘building platforms for wealth, security, and legacy’ by creating investor-ready communities backed by transparency and trust.

Anata Nigeria’s proven models – land banking, rental properties, commercial leasing, and hybrid real estate ventures – provide both steady cash flow and long-term growth. Industry analysts highlight Lagos growth corridors like Badagry, Ibeju-Lekki, and Epe as Africa’s top real estate hubs. Anata Nigeria leverages these opportunities through Special Purpose Vehicles (SPVs) that secure each project with physical assets and investor agreements.

While Lagos is the core focus, Victory Johnson confirmed upcoming projects in Abuja, Port Harcourt, and other fast-emerging cities.

We are more than developers; we are partners in nation-building,’ Victory Johnson said. ‘Every project creates jobs, attracts capital, and secures the future for investors and communities.’

As global capital turns to Africa, Anata Nigeria is positioning itself as the trusted gateway for HNWIs, private equity firms, and international partners. Anata Nigeria – Building Wealth. Developing Communities. Powering Africa’s Future.

Kwara State Governor Abdulrahman Abdulrazaq has visited Oke Ode in Ifelodun Local Government to again commiserate with the community and the families who lost their loved ones to the recent attacks by kidnappers.

The Governor prayed for the repose of the souls, commended the security forces for their efforts, and reassured the community of bringing back peace in no distant time.

He also sent words of condolences and solidarity to all the communities caught in the breaches from Ifelodun to Irepodun, Isin, Ekiti, Edu, and Patigi.

‘We have come to commiserate with the community over the attacks. It is to also commend the security forces, forest guards, and vigilante for repelling them and restoring peace back to the community. ‘It’s been quite challenging. Everything is being put in place to mitigate its effects, and make sure we end such occurrences,’ he said.

The governor was accompanied by the Commissioner of Police Adekimi Ojo; State Director of DSS; State Commandant for NSCDC, Umar Mohammed; Senior Special Assistant on Security, Muyideen Aliyu; and Chairman of Ifelodun, Femi Yusuf.

The governor got briefings from security officers and some stakeholders from Oke- Ode and neighbouring Igbaja, including the National President of Oke Ode Development Association, Abdulganiyu Ajala; Oyin Zubair, and the youth leader.

The governor had earlier issued a statement to commiserate with the communities affected, saying a lot more must be done to protect the people and their properties.