Category: Business Day

As Southwest states and Edo State grapple with an estimated 3.5 million children without birth certificates, the National Population Commission (NPC) has identified poor network connectivity as one of the major challenges hindering the smooth and timely implementation of electronic birth (e-birth) registration.

BusinessDay recalls that Celine Lafoucriere, Chief of the UNICEF Lagos Field Office, on Tuesday, August 11, 2026, raised concerns that children who are not registered at birth could, in the future, face difficulties accessing government social protection programmes and essential services, as well as claiming inheritance from their parents.

Lafoucriere spoke at a two-day birth registration media dialogue organised by the NPC in collaboration with the United Nations Children’s Fund (UNICEF) for media practitioners from Lagos, Ondo, Ogun, Oyo, Osun, Ekiti and Edo states.

The dialogue was themed, ‘Giving Every Child a Legal Identity by Driving Birth Registration in Nigeria.’

She highlighted several rights and opportunities that unregistered children could struggle to access, including obtaining passports, voting when they reach adulthood, inheriting their parents’ property and establishing their legal identity.

Speaking to journalists at Majeck Health Centre, Sangotedo, during a field visit organised as part of the dialogue, Phillip Agbatun, NPC Registrar in charge of the health centre, said poor network connectivity was slowing down the electronic birth registration process.

Agbatun explained that network disruptions reduced the number of children that could be registered each day, creating delays for parents and health workers.

He recalled that two weeks earlier, 76 people had visited the health centre for birth registration, but only 46 could be successfully registered because of network-related challenges.

‘Sometimes, when you get to the point of submitting the registration, you experience delays because of poor network connectivity. It takes time before we submit this thing, and because we don’t want to waste our mothers’ time, we have a form that we print. We collect their details so that we won’t keep them here unnecessarily,’ he said.

According to him, network disruptions could increase the time required to register a single child significantly.

‘Whenever there are network challenges, sometimes it takes as long as 10 to 15 minutes to attend to a single person,’ he said, adding that the process takes about five minutes when the network is stable.

Agbatun also stressed that birth registration could not be conducted by proxy, urging mothers to provide their husbands’ National Identification Numbers (NIN) to ensure that the correct names and other details were captured during registration.

He stated that birth registration is free for children aged zero to five years, while children above the age of five who have not been registered would be required to pay N5,000.

Meanwhile, Duke Juliet, a nursing mother who spoke during the field visit, said she registered her daughter when the child was six weeks old. The child is now 10 weeks old.

Juliet said she completed the registration during an immunisation exercise, and encouraged other parents, particularly mothers, to take advantage of opportunities provided at health facilities to register their children.

She urged parents to present their children for e-birth registration early, stressing the importance of obtaining a legal identity for every child.

The NPC and UNICEF have continued to promote birth registration as a critical component of Nigeria’s identity-management system, particularly as millions of children remain without official proof of birth.

Africa is entering a more consequential second half of 2026 – elections are testing reforms, currencies are stabilising unevenly, investors are returning to African debt, inflation is proving sticky and capital-market gains are creating new pockets of wealth.

Here are the stories shaping the week

Zambia votes Thursday as economic reforms face voters’ verdict

Zambians head to the polls on Thursday, August 13, in a presidential and parliamentary election that will test whether President Hakainde Hichilema’s economic reforms have delivered enough progress to secure him a second and final term. Hichilema, 64, who defeated former president Edgar Lungu in 2021, remains the favourite, but a newly assembled opposition alliance led by former Patriotic Front lawmaker Brian Mundubile has made the contest more competitive than expected.

Why it matters: The result will determine the direction of Zambia’s economic reforms, debt-management strategy and investor policy at a time when households are still grappling with economic hardship. A change in government could also alter the pace and priorities of reforms that have reshaped Zambia’s relationship with creditors and international investors.

Otedola’s FirstHoldCo buying spree makes him Africa’s fastest-growing billionaire

Femi Otedola’s aggressive accumulation of First HoldCo shares has emerged as one of Africa’s biggest wealth-creation stories in 2026, as the billionaire benefits from the strong rally in the parent company of FirstBank. Otedola has repeatedly increased his stake this year, while First HoldCo’s shares have surged alongside stronger earnings, with first-half pretax profit rising by 83 percent to N654 billion.

Why it matters: Otedola’s gains show how Nigeria’s stock-market rally and banking-sector earnings are reshaping the fortunes of the country’s wealthiest investors. His growing stake also makes First HoldCo, which is the parent company of the country’s oldest bank, a closely watched test of whether the bank’s transformation can sustain its share-price rally and create more wealth.

Higher fuel prices push Egypt inflation higher for first time in four months

Egypt’s annual urban inflation accelerated to 14.9 percent in July from 14.3 percent in June, ending a three-month decline as higher housing, fuel and education costs put renewed pressure on households. The increase, reported by the Central Agency for Public Mobilization and Statistics, also came as the government continues to implement subsidy reforms that are feeding into consumer prices.

Why it matters: The renewed inflation pressure complicates Africa’s second largest economy’s efforts to lower borrowing costs and support economic growth. It also threatens household purchasing power and could influence the central bank’s room to continue monetary easing after a prolonged period of disinflation.

Afreximbank’s record $1.5bn bond signals investor confidence in Africa

Global investors are showing continued appetite for African credit despite elevated global yields and geopolitical uncertainty, with Afreximbank raising $1.5 billion in its largest-ever bond sale. The dual-tranche Eurobond attracted orders of up to $3.8 billion, roughly twice the amount offered, from investors across the UK, Europe, Asia and the US.

Why it matters: Strong demand for the bond is an important signal for African borrowers. It suggests investors remain willing to provide long-term dollar funding to credible African institutions, potentially opening a window for other highly rated African sovereigns and corporates to return to international markets.

Seven African currencies beat the dollar in July as FX pressure eases

Seven African currencies strengthened against the US dollar in July, up from just four in the first half of the year, as global market conditions improved and fears of a prolonged oil-supply disruption eased following the US-Iran ceasefire. The retreat in Brent crude from around $100 a barrel during the conflict to below $85 also provided relief for oil-importing economies, although fuel costs remain elevated across much of the continent.

Why it matters: The improvement in African currencies offers some relief to central banks battling imported inflation and external financing pressures. But with oil prices rising again to around $90 a barrel in early August amid renewed geopolitical tensions, the July relief may prove temporary.

Jumia Technologies has raised $50 million in fresh capital, anchored by a $25 million investment from the International Finance Corporation (IFC), as the African e-commerce company reported stronger sales and narrowing losses in the second quarter of 2026.

The company disclosed the capital raise alongside its Q2 results for the three months ended June 30, 2026, marking a significant boost to its balance sheet as it pushes towards profitability.

Jumia’s revenue rose 14 percent year-on-year to $52 million, while gross merchandise value (GMV) increased 20 percent to $216.3 million. Adjusted for changes in its market footprint, GMV growth was 23 percent.

The company’s gross profit climbed 28 percent to $30.7 million, while its adjusted EBITDA loss narrowed 36 percent to $8.7 million, compared with $13.6 million a year earlier.

Loss before income tax also improved by 33 percent to $10.9 million.

Nigeria emerged as Jumia’s strongest market during the quarter. Orders in the country increased 34 percent year-on-year, while GMV rose 36 percent, highlighting the importance of Nigeria to Jumia’s growth strategy.

Jumia recorded 6.3 million physical-goods orders during the quarter, up 26 percent year-on-year, while quarterly active customers increased 24 percent.

International sellers also gained traction, with gross items sold rising 96 percent, driven largely by the expansion of Chinese sellers and affordable fashion suppliers in Turkey.

The results came despite supply disruptions affecting smartphones and electronics, higher fuel costs and weaker consumer demand in Ivory Coast linked to falling cocoa prices.

Jumia said it deliberately prioritised margins and unit economics over pursuing GMV growth through discounts.

Marketplace revenue rose 34 percent to $28.8 million, while advertising revenue jumped 88 percent to $3.5 million as more sellers adopted Jumia’s retail media offerings.

The firm is also using artificial intelligence to reduce operating costs.

Jumia said AI-driven automation is being deployed across operations, finance, customer support and technology, including cybersecurity and code-quality workflows. AI is also being used in logistics, customer service and seller management.

The cost-cutting programme has reduced Jumia’s workforce to just over 1,770 employees as of June 30, down 11 percent from March 2026 and significantly below the 4,318 employees recorded at the end of 2022.

Despite the stronger operating performance, Jumia’s liquidity position fell to $48.3 million at the end of June, after declining by $14.3 million during the quarter.

The new $50 million investment is therefore expected to provide additional financial capacity as the company scales its operations.

Jumia maintained its target of achieving adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, with full-year profitability and positive cash flow targeted for 2027.

It expects GMV to grow between 20 percent and 30 percent in 2026.

The Katsina State Government on Wednesday commenced the 2026 SMART Nutrition Survey to assess malnutrition, food insecurity and related health challenges across the state’s 34 Local Government Areas.

The exercise is expected to generate updated data on children and women to guide government and development partners in targeting nutrition interventions.

Speaking at the flag-off in Katsina, Prof. Saifullahi Ibrahim, the Statistician General of the Katsina State Bureau of Statistics, described the survey as a critical investment in evidence-based governance.

‘Statistics provide the evidence upon which governments make decisions, allocate resources, monitor progress and assess whether public interventions are achieving the desired results,’ he said.

The 2025 SMART Survey recorded 7.4 per cent Global Acute Malnutrition, 46.3 per cent stunting and 25.8 per cent underweight among children in the state.

Although acute malnutrition declined from 13.5 per cent in 2022 to 7.4 per cent in 2025, officials said the high rates of stunting and underweight remained a concern.

The survey also found that only 21.2 per cent of children were exclusively breastfed, while minimum dietary diversity stood at 28.5 per cent.

Ibrahim identified poverty, inflation, conflict, displacement, childhood illnesses and inadequate intervention coverage as major drivers of malnutrition.

He added that about 73,500 people faced emergency food insecurity between October and December 2025, with further deterioration projected during the 2026 lean season.

The survey will assess child nutrition, mortality, morbidity, maternal nutrition, feeding practices, health-seeking behaviour and WASH indicators using SMART methodology across seven domains.

The Statistician General stressed the importance of data quality, saying, ‘The quality of a policy decision can never be better than the quality of the evidence upon which it is based.’

In the meantime, Nura Shehu, the UNICEF Planning and Monitoring Specialist, commended the state government’s commitment to improving nutrition but warned that the high stunting and underweight rates required sustained action.

‘While the decline in acute malnutrition is encouraging, the continued high prevalence of stunting and underweight demonstrates that substantial challenges remain,’ Shehu said.

He said UNICEF would continue supporting evidence-based nutrition programming and urged survey teams to ensure accurate data collection.

UNICEF also commended Governor Dikko Radda for funding the survey, describing the initiative as an investment in better planning and improved outcomes for children.

Mohammed Bashir, the IRC and ALIMA Monitoring and Evaluation Officer, pledged continued support for the state’s nutrition efforts.

He urged stakeholders to prioritise data quality, community participation, security and strict adherence to the SMART methodology.

The organisations stressed that the findings must translate into concrete interventions for vulnerable communities.

Hon Rabo Tambaya, the Chairman of ALGON, Katsina State, speaking on behalf of the 34 local government chairmen, pledged support for community mobilisation and access to selected households.

‘The success of any nutrition programme ultimately depends on our ability to understand the realities facing our communities,’ he said.

Stakeholders said the ultimate measure of the survey would be whether its findings lead to better-targeted interventions and improved nutrition outcomes for children and women.

Hyacinth Alia, Benue State Governor, assumed office amid some of the state’s most pressing challenges, including insecurity, widespread displacement, weak infrastructure, unemployment and an economy in need of stronger private-sector activity. Since then, his administration has embarked on reforms aimed at restoring stability, improving public finances and creating an environment for economic growth.

The government has also prioritised the return of internally displaced persons (IDPs) to their ancestral homes, the rebuilding of critical infrastructure, the revival of moribund industries and the strengthening of agriculture, a sector central to Benue’s economic identity. But significant challenges remain, particularly around security, job creation, investment and the sustainability of the state’s finances.

In this interview with BusinessDay’s Tope Omogbolagun, Benue State Governor, Hyacinth Alia, speaks on his administration’s efforts to tackle insecurity, return IDPs to their ancestral homes, rebuild infrastructure, revive industries, strengthen agriculture and reform the state’s finances.

Your administration has been in office for over three years. What would you say you have achieved so far, and what informed your development blueprint?

We came into governance with our own blueprints and a way of quantifying and identifying the projects’ desired fate for the good people of the state. So, we came out to have them executed. Much has been done.

Thank you so much for going out to the field to see what a blueprint has prescribed and what we have been able to achieve. And as much as much is done, I know that so much is still left to be done.

The fact here is that the moment we came in, we had declared a state of emergency on our roads infrastructure.

This is why, if you go around the 23 local governments, there has been very good connectivity of road networks now in most parts of the state. In a number of our urban places, we are doing urban renewal roads.

And all the roads within some major townships here have also been converted into the newness of what they are today. We have achieved quite enormously on the reformation and revamping of our primary schools.

They were in the Intensive Care Units; local government primary schools were no longer being attended to.

So, we were able to give some priority attention just to revamp the primary schools, and hundreds and hundreds and hundreds of primary schools in local governments have been brought back to life.

We were able to hire 9,700 teachers, actually, just for the primary schools. And then we also went statewide to take care of the primary health institutions.

First of all, what we had and life was literally running out from was the teaching hospital. So, once it was fixed, and it is fixed now to this purpose, to a point that we are having medical tourists coming from all the surrounding states here.

We are very grateful that we also have a VIP wing of it. And, in fact, this is one of the units that is most attended by those who come from outside of the state here.

I think it is simply due to the fact that we have a number of specialists to cover those areas. So, it is quite welcome to have them.

Now, we have to get back to the basics, the primary healthcare establishments. They had vanished for some reasons because no attention was given.

So, we had to recreate some traction in there.

And what we have done now is that hundreds and hundreds of primary healthcare establishments have been brought back to life.

We are expecting some consignment to come in from the United States.

We have been in some collaboration and partnership with the United States government and subnational governments on health.

So, we ordered some instruments that will be coming. These are meant to be delivered to the local government, to the primary healthcare facilities in different local governments.

You have spoken about your blueprint and promises made to the people. What informed the decision to focus on these areas?

Why did we have to do this? When you say you will, I think the willpower should also be accompanied. And when you tell the people this is what will also make them or promote them, I feel something has to be done about that.

And we had monitored very closely the words we had given the people. We had to inspect what we were expecting out there.

So, the results you see out there now are the inspections we had done to ensure that a blueprint was made, promises were made to people. We received good enough funds from even the Federal Government as well.

And that gained a lot of support from us. We had a hiccup, and the hiccup was the insecurity and insurgencies that crept in. But again, thank God that the Federal Government immediately swung in.

Benue has faced serious insecurity and displacement. How would you describe the situation now, and what is happening to internally displaced persons?

We have a very high, I would call it, amount of relative peace in this state. How do we get the indices? Through our security apparatuses who are out there in all the local governments, and then through the traditional institutions as well, and then also through our own people, the citizenry of the state who are there.

We had a chunk of the internally displaced persons. Fifteen internally displaced persons camps were set around the state.

A few internally displaced persons camps we have now; we are already making some plans to close down some, because the internally displaced persons occupants have very directly and voluntarily gone back to do their farming.

And here is the thing: by the plan, by the durable solution we have made, with the collaboration and the partnership of the international community, the United Nations, the International Organization for Migration, and the United Nations High Commissioner for Refugees, we truly appreciate the efforts and the support they sent to us.

In conjunction, we made so many inroads into ensuring that the internally displaced persons are returned to their homelands and back to their farms. It is not just for them to go back to farm and then come back again.

You continue to see a dwindling number from the Internally Displaced Persons camps. And this is because they are out there, not just farming, but now constructing their own homes back.

So, it is a hope that we will continue to pump in, by various forms and shades, as security frameworks, so that they remain back there and they do what they know how to do best, the farming.

Benue is 50 years old. Looking back at its development, what do you think has been responsible for the gaps you are trying to address?

Thank you so much. It is a very tricky question. Trying to answer it expressly, we need to touch on the inefficiencies of certain leadership. But I will try to pull that out from the attempts in here.

And there has to be a direction. There has to be a mission, and there has to be a vision. Benue State is 50 years old today.

And in the 50 years, we have had a series of leadership that came in and out. As a state, do we have a development plan, a master development plan? The answer is no, we did not.

So, when people came in, they made some inroads on what they thought was meant for the people. But again, this is what the blueprint is expected to be.

You do a filtering of the people you are going to serve. What are your needs, your priority needs? Do you really want this? Do you really have this as a need? Want is different from a need.

So, when you do not do a filtering, the tendency of you just simply doing the want of the people is there. We had to go down to the trenches to ensure that this is what the market woman is needing at this particular time. This is what the farmers are desiring. And this is what everybody in the state truly seeks to have.

How are you ensuring that the projects you are executing are sustainable beyond your tenure?

On a number of the other projects we have done, there is some caveat to enable it to stay sustained.

And if people say the government does not have business into business, if government does not have those whose minds are hung on business, then every little effort made, you know, it is going down the drain.

We have established, very fresh, the Benue Food Basket Brewery, Zeva Premium Lager beer. We had one before.

If you take statistics from the people to know why we had more beer breweries here previously. Doing an empirical analysis, it was simply because people desired it.

If, through that means, a lot of capital flight is being taken out, it is being made against us, against the state, against those who are supposed to be enjoying it.

You would experience some problems like that. It is not that we have people who love to drink so much. It is, after all, food. People love it.

We make it from local produce: from the sorghum we produce, from the cassava we produce, from the corn we make.

So, if we are producing this, why are we not converting it so that we all have the rippling effect of the value chain? So, this is being made. And there are several things that are put in place to ensure that the Zeva factory survives.

We have the juice factory. We also have a separate factory from the juice, the concentrate factory. All those three factories, made in the last three years, are functional, and they are meant to remain as such because we continue to monitor.

We have the right people to ensure that things work. Now, we are also getting some partnership from out there who want to have these.

Now, in the last one year, a bag of orange has shot from N3,500 to N17,500 as I am speaking now, and many more.

There is a lot of competition for that. The farmers are also going to enjoy it.

We have already registered all the site rooms and those who have their orchards. Those different frames of farms are being registered under cooperatives. They know that this is the source of where the funds are coming for them.

One, to keep their farms; two, to expand the farms and then to keep them smiling to the bank. So, there is a full assurance that what they do today will be sustained tomorrow.

And they know that we are going to be very constant. So, we are business-minded and wise, which means we have put in place what is going to make them stay.

You have also revived the Taraku Mills. What does that mean for Benue’s agricultural economy?

It is quite unfortunate that we had lost the Taraku Mill. It is one of the very huge components of driving the economy here in the state.

That arm of commerce had died because people felt it was just a common cake. Get your knife, cut a chunk, and then you leave. But at the end of the day, everybody lost in the state.

Benue State was the number one producer of soybeans here, nationwide. So, we are now trying to work our way back to the front line again.

And what is that going to do to the farmers? They understand that the Taraku Mill has come back. It is going to be a market sustenance for the farm produce they are doing on the farm.

Already, we have started giving farm incentives.

We are giving some money to non-farmers, to very big farmers, to go and then get back into soybean farming. We are already giving farm inputs to those who have identified themselves. Some data was already taken.

So, if some good guard, as we have in place now, would be sustained as we have designed and planned, I want to believe that we are going to even raise more companies here.

These are cottage industries; once they are in place here, several lives are going to be changed.

We are even intending to have a Benue farm market in Abuja. The road is now express. We used to do five and a half hours from here to Abuja. Now it is even shorter. It takes under three hours for us to get to Abuja.

So, what stops us from bringing the Benue fresh farms? Oranges, yams, you name them, over there. Except if you do not plant, you do not harvest on this land.The land is very fertile.

So, these are the advantages we have. And if people are making money consistently from their produce, we are going to remain on the path we have now taken.

So, we did not just bring back to life the Taraku Mills. It is just one factory that we have resurrected. But all the other new ones are also going to be sustained.

And I am very hopeful that as people get some more money and supply to the bank, they are also going to ensure that they will keep coming back to us.

What structures have you put in place to ensure that future administrations continue with your development agenda?

At Benue at 50, we began a 30-year master plan to ensure that even after power is changed, the same developmental dynamics are still kept.

The same vision is being shared, and the same mission is being embarked upon through this developmental plan.

So, I want to believe that if people continue to hold us and those who come after me accountable for the results to be given, I want to believe that it is only one new trend to keep on. These are people-driven projects.

What is different about the roads being constructed by your administration?

The roads we are doing are very different from the roads done previously and in a number of places elsewhere.

The roads we are constructing are stone-based roads that have a guarantee of over 30 years. They have a guarantee; in fact, I just minimise the years as I pay the contractors.

So, why do we have to spend so much on this? If I have given so much life and concentration, again, and traction to the road projects, not only in town, in different parts of our suburbs.

So that as we begin to build the master development plan of the state, should we bring in roads in there, it is going to be not as heavy as it would have been.

We have taken care of the primary healthcare. We have already embarked on the secondary tier of the health system. If those are done and subsequent administrations come, they will have less concentration on those because they are fundamentally and diligently done in a manner that durability is guaranteed and is visibly also felt.

This is why what we do is purely based on that durability of the thing, a guarantee for these things. And it is left to the people now.

They wanted it. We have gone above and beyond to ensure the durability of the thing. So, we push everything back to them, back to their hands.

This was the mandate you gave us. There are many, many more things I have to do going forward in the second term. So, am I a worthy servant just to keep going forward? Because when you send me, I go and you see results.

And these are results that you have now. So, is it ideal that you send me again? They have already given me the answer that, yes, Father, you are worth our sending. And then we are going to do this.

So, I am all into their hands. But what we have on the ground, it is what they desire. They kept me accountable. They kept me accountable.

And the Federal Government had supplied much for us. So, we were able to ensure that what we got is being felt, seen and used by the very people who sent us.

You have mentioned new partnerships in agriculture. How will they help farmers get more value from their produce?

I am going into certain partnerships. In fact, this afternoon, we were about to sign something, but the point man who is supposed to do this had another function. So, we had to wait.

Some project on Food City. This is going to be an agricultural zone to co-exist where much land has been given to these people. We have done our part by giving the land. We are taking care of it by constructing the road to this space. And then they bring in their own facilities also to put this.

We share in the residues that are going to come from here. So, I think it is one quick way to do this. Let us not be deceived.

I think what we know today is superior to what people knew and were practising just years ago.

Meaning simply that for us to get more mileage on the produce we make on our farm, for us to be able to expand our farms, and for us to be able to create more economy from the drive we do on those farms and different forms of commerce, we have to be mindful of the value chain in between.

So, anything short of that would never work.

People want this. People have a desire for it. They go back to their farms. They are now expanding their farms because of the support we give them.

We just distributed over 11 trucks of fertiliser from the Federal Government. We did ours some two months back at the level of the state to our own farmers. And when we do this, it is at a subsidised rate.

So, why are we doing this? To ensure that there is continuity on their own farm. And then we want them to expand those farms. And then we also want them to make the gains they make from here.

They do not just carry the raw materials straight to the buyers’ hands. And this is why the establishment or the revival of the Taraku Mills is being done. Already, people are coming to the table to partner on this.

If we, the state, never use our public funds to revive the Taraku Mills, it would only be the part that cooks the rice but never eats the rice.

So, we want a share in what we spend our money on in the establishment. So, as we bring it back to life, already those that are being attracted, the companies that want to come in and join us on this, already have their documents on the table for us.

So, we have been going through three or four separate companies to see how they can come in to partner with us. I think it is one quick way that our farmers are going to have their full value chain.

You travelled to France with President Bola Ahmed Tinubu. What conversations did you have about Benue’s agricultural potential?

We travelled with Mr President to France. And some French businessman who is conversant with some part of Nigeria was asking why Benue State has so much soybeans, but we are not exporting our soybeans.

So, the simple answer I had given was after a presentation I made. It was that what we need is for us to be able to use every part of this soybean back home.

They can come to us with their own factories and every other form of partnership they want to do. Rather than us trying to struggle with this soybean and take it over there, the value chain remains very limited.

So, we want it at full scale.

Critics sometimes argue that infrastructure does not directly put food on people’s tables. How do you respond?

Is it roads that we eat? No, it is not roads that you eat. But at the same time, intrinsically, you enjoy the roads, and you eat the roads because they have gone through your farms, they have gone through the market square, and then from the produce on the farm they are coming back to the buyer in the town or in some suburban area.It means you are still eating the roads.

But at the same time, a 50-year-old boy who does not have anything to show for, physically, is a problematic child, so he has to augment himself.

We are augmenting the state in the manner that people have already started enjoying the reforms that are here.

Parents are enjoying not paying any school fees for their children from Basic One to Basic Nine because we are using their own money given under the custody of government leadership to take care of this.

So, in other words, we are pinching the pennies to ensure that we do these things.

We are taking care of the primary health system now. If you have malaria, you do not have to leave my village to come all the way to Makurdi to spend three and a half hours coming to treat malaria here.

With the clinic we have, with the hospital we have, with the general hospital we have, we have the primary and then we have the second tier, the general hospital by the same axis.

I think that takes care of some things and it is the same thing with the primary schools and all that.

So, why are we able to do this, initially there was kind of a resistance. If you go back into history, reforms bring resistance, and I think it is part of what even the Federal Government might be suffering from.

So much is done. I just made a pronouncement here that with the much money that the Federal Government is giving us, thank God you have been out there, you have seen that this money is being translated into those projects, into Otukpo Water Works, into the series of roads and the underpasses you are seeing, into the schools, into the hospital systems you are seeing.

And I think it is the only way to go.

Let us talk about the state’s finances. How have federal government allocations and internally generated revenue affected what your administration is able to do?

What the Federal Government gives me is what is being distributed elsewhere as well. So, we all have just a very common share.

In fact, we have so much on the ground, but since the harnessing of what we have has not fully taken its position on the table, we are yet to have 13 per cent derivatives.

I think quite soon we are going to be there. You may hear the announcement on the oil and gas that is found in the state here.

So, once much attention is already given there, not just having a pipeline, work has already begun on harnessing the series of minerals we have, solid minerals we have.

Nigeria has quite a chunk. Benue has a share in that of 43 varied solid minerals, and quite a number are on a commercial basis.

So, once we go in there, we are also going to continue to support.

Our internally generated revenue has been increased again, simply because of the money. The oil subsidy, I think, is the one that is throwing this back to us, throwing much money back to us.

The funds that were being used to ship the oil, I mean, to get the oil in different places, it is now being brought to us directly in this cache of the thing.

We must say it. Previous administrations tell me; I hear what a number of people, including the state here, speak with the media. I read in the papers, I see some clips also on the screens, you know, that the amount of money we are receiving, it is way, way much more than what they were receiving.

With more funds coming to the states, what is the most important issue in managing these resources?

I think, let me try to be very cautious so that I do not make it very personal. The management skills of those funds it is what would be of importance here.

So, if the intent for what we receive is meant to take care of salaries, it is meant to take care of the infrastructure, it is meant to take care of our security, then it simply means the intention of the donour has to be respected.

And in this case, what we receive, it is meant to go; it is not for individual pockets; it is meant for the common good.

So, if you understand the common good, the poor masses, then they must be on the front burner of everything you do, and this is why very good attention is given to this.

Again, I spoke about inspecting what you expect.

The people sent me. If I perform abysmally, then they are not going to look in my direction.

So, I also had to work this, not the fine line, but how to make it in a manner that they know that I am worthy as a messenger.

And this is why I had mentioned pinching the pennies. If we are able to hold ourselves accountable and to govern ourselves, then we will be able to govern also all the resources that come our way for the people.

And that is what makes democracy.

Your relationship with the Federal Government appears to have changed significantly. What has that meant for Benue?

Things had gone sour, really sour. So, the end result was that the state lost so much. People did not have relevance. They did not know what was actually happening from the central government.

So, we had to renew our relationship. And I thank God you even asked. It is superb, quite superb.

And this is why the Federal Government, Mr President, has been quite good to us, the subnationals.

Remember, we are running a federation. We have the federation, then the federal government, then the subnationals in here.

What we receive from our Federation Account, it is what enables us to do what we do.

So, the attention we have given to re-energising our internally generated revenue is what enables us to do what we are doing today and to ensure we are paying without owing anybody.

So, there is a very good relationship here between the Federal Government and us.

And this is why when we are rejoicing, they are here rejoicing with us. When we are mourning, they are also feeling the pinch and they are here with us also to mourn.

What specific benefits has this relationship brought to Benue?

So, why so much attention is it giving us? There are lots of appointments that we enjoy due to this friendship. We did not have that prior to my coming in.

There is so much that the Federal Government is giving because of our position and where we are.

In fact, at the end of the month, we are also going to have to be the state host to the entire nation here on Security Summit.

They are coming over here. Why us? Again, I feel that it is because of this very great relationship.

We are going to represent the entire North Central. Everybody is coming in here. The entire nation is coming in here for us to share ideas, for us to see possible ways of curbing all the insecurities and all that, and then to explore the different dynamics on how these things work.

So, we have this great relationship and we must remember and be grateful again to the President.

Finally, despite the reforms, some people still say the economy is not working. What is your response?

The reforms that are brought in place are bearing fruit, and it is difficult to change a certain fixed mind, to change the status quo, but what is even more permanent is that change itself.

For those who may still want to doubt, those who may still have their agitations or reservations that the economy is not working, the economy in the state is improved.

I must say that it is improved.

If a bag of oranges was sold, for this simple example, for N3,500, people even had to beg for the oranges to be bought. But because we have gained a lot of financial support and chose to establish some factories, there is already a lot of competition for the oranges coming from the farms.So, how would you say it is not spreading?

The poor women out there, we are pushing them. It is their money we are using even to push them.

If you do not pay your child’s school fees for nine solid years, I mean, definitely there is some saving in there for you.

So, it is something new. Reforms are new, but then if you give it patience, if you study it, if you look and look again at the differences, they are dropping bit by bit.

And then you come to realise that reforms are one, the way to go; change, one is another way to go; and then patience, one, it is some basic way to go so that we get everything, not just in part, and not just by bit, but in total.

The National Youth Service Corps (NYSC) has denied reports that it reached an agreement with the National Association of Nigerian Students (NANS) to collect a N200 levy from students as a condition for mobilisation for national service.

The NYSC said it had neither discussed nor agreed to the proposed levy and had not entered into any Memorandum of Understanding (MoU) with NANS concerning the collection of money from students in connection with the mobilisation process.

In a statement signed by Caroline Embu, director, Information and Public Relations, the Scheme urged students and prospective corps members to disregard reports suggesting that payment of a levy to NANS or any other student association was required for NYSC mobilisation.

‘The NYSC wishes to state unequivocally that it has not, at any time, discussed, agreed to, or entered into any Memorandum of Understanding (MoU) with the National Association of Nigerian Students (NANS) regarding the collection of any levy from students in connection with mobilisation for national service,’ the statement said.

The clarification follows a viral publication titled, ‘NANS Moves to Collect N200 Levy from Nigerian Students, Links Dues to NYSC Mobilisation,’ which reportedly suggested a connection between payment of the levy and students’ eligibility for mobilisation.

The NYSC stressed that the scheme operates under the authority of the Federal Government and implements only policies, guidelines and procedures approved by the appropriate government authorities.

It said its mobilisation process was conducted through established official channels and did not involve student associations.

According to the Scheme, the process involves collaboration between NYSC management and the Heads of Corps Producing Institutions (CPIs), who are responsible for submitting the required information on eligible graduates for mobilisation.

‘The mobilisation process is neither linked to nor contingent upon the activities of any student association or organisation,’ the NYSC said.

The clarification is significant for prospective corps members, particularly final-year students and graduates preparing for national service, as unofficial payment demands could create confusion and expose students to potential financial exploitation.

The NYSC therefore advised members of the public, especially students and prospective corps members, to rely only on official information regarding mobilisation requirements and procedures.

‘Consequently, members of the public, particularly Prospective Corps Members and students, are advised to disregard any information suggesting that payment of a levy to NANS or any other association is a requirement for NYSC mobilisation,’ the statement said.

The Scheme reaffirmed its commitment to maintaining a transparent, credible and efficient mobilisation process in line with existing government policies and guidelines.

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has successfully raised CHF 350 million through a 5-year Digital Bond.

This milestone transaction makes the Corporation the first African institution to issue a Digital Bond listed, traded and settled on a regulated digital exchange.

The issuance is also the largest digital bond ever issued in the Swiss Franc market, reinforcing AFC’s leading role in international capital markets.

The bond was priced at a coupon of 1.4925 percent, efficiently delivering funding within the Corporation’s $500 million benchmark issued in June 2026, and demonstrating AFC’s ability to combine innovative funding structures with competitive pricing.

Issued under AFC’s $5 billion Global Medium-Term Note Programme, the digital bond is structured as a tokenised security using Distributed Ledger Technology (DLT), with ownership recorded on a regulated digital register and settlement taking place through a regulated digital market infrastructure.

The bond is admitted for trading and listing on the SIX Swiss Exchange and deposited with SIX Digital Exchange, the clearing and settlement system operated by SIX SIS AG.

The proceeds will support AFC’s general funding requirements and strengthen the Corporation’s capacity to finance transformational infrastructure across Africa. The transaction was arranged by Commerzbank AG (Technical Lead) and Deutsche Bank AG London Branch, acting through the Deutsche Bank AG Zurich Branch.

Efficiently timed amidst the ongoing geopolitical uncertainty, the transaction benefited from constructive investor sentiment and AFC’s dual investment grade rating- ‘A’ with a positive outlook by S and P, and A3 with a stable outlook by Moody’s.

Attracting a high-quality investor base, the issuance had approximately 90 percent of demand coming from Swiss domestic investors and 10 percent from international accounts.

Additionally, banks and financial services institutions represented the largest investor group, accounting for 57 percent of the orderbook, followed by asset managers at 37 percent, while hedge funds accounted for 6 percent.

The strong investor demand and quality of the book reflect continued market confidence in AFC’s strong credit profile. This historic issuance further strengthens the Corporation’s presence in the Swiss capital markets and marks AFC’s fourth and largest Swiss Franc issuance to date, following its CHF 150 million Green Bond issued in 2020 – the Corporation’s inaugural Green Bond.

Samaila Zubairu, president and CEO of AFC, said: ‘This transaction is about far more than achieving competitive pricing. It marks another significant milestone in AFC’s funding journey and underscores the confidence global investors continue to place in our strategy, credit strength, and development impact.

‘As we continue to diversify and innovate our funding approach, expanding the range of capital solutions available to AFC will remain central to mobilising long-term financing at scale and delivering on our mandate to accelerate Africa’s industrialisation and economic transformation.’

Banji Fehintola, executive board member and head of financial services at AFC, said: ‘This transaction is a proud milestone for our funding programme. Pricing the largest digital bond ever issued in the Swiss Franc market reflects not only the strength of AFC’s credit but the depth of trust that Swiss and international investors have placed in our strategy over time.

The digital format of this bond is not an end in itself but a signal of our commitment to being at the frontier of innovation in the capital markets as we continue to diversify and strengthen AFC’s funding base to support Africa’s development’

With days to go before the Osun State governorship election, Ademola Adeleke, incumbent Governor and Asiwaju Munirudeen Bola Oyebamiji, APC challenger, locked horns during a fiery town hall debate in Osogbo, trading sharp accusations over ?650 billion in allocations, federal influence, and state security.

Reacting to the performance, Pelumi Olajengbesi, an Abuja-based human rights lawyer, praised the governor, describing his presentation as ‘too powerful and excellently delivered,’ adding that Adeleke ‘spoke brilliantly as a governor who has worked for the people and has results to show.’ Olajengbesi also claimed that the APC candidate fled the venue citing stomach issues, an allegation the APC camp dismissed as baseless political propaganda.

Speaking at the Arise News Townhall Meeting moderated by Reuben Abati Lasisi Olagunju. Festus Adedayo and Adesuwa Omoruan, frontline candidates, laid out their visions while defending their records before the electorate.

Governor Adeleke of the Accord Party rejected allegations that his administration militarised the state or favoured his hometown, Ede, for development projects. Labelling himself a ‘bulldozer’ unbothered by federal opposition, Adeleke touted his record of constructing 350 km of roads, rehabilitating 200 primary healthcare centres, acquiring 31 tractors, and recruiting 1,500 Amotekun security personnel. He urged citizens to protect their votes peacefully at collation centres.

In response, APC candidate Oyebamiji challenged Adeleke to account for approximately ?650 billion in federal allocations received during his tenure, alongside ?15 billion allegedly left behind by former Governor Gboyega Oyetola. Oyebamiji denied claims that the Federal Government planned to deploy ‘federal might’ to manipulate the election, pledging instead to prioritise agriculture, education, healthcare, and poverty alleviation across all 30 local government areas.

Adding to the debate, Najeem Salaam, of the African Democratic Congress (ADC), promised to eliminate political thuggery using his legislative and academic background. Meanwhile, Olajide Esan of the African Action Congress (AAC) proposed an Osun Residents Database and a public financial dashboard to enforce transparency and return governance to the people.

As Nigeria steps up its domestic financial overhauls and structural transformations, the prospect of deepening bilateral economic ties with the Gulf has emerged as a major catalyst for growth.

Following massive capital deployments across Sub-Saharan Africa (SSA), industry leaders emphasise that maintaining a steady course of policy and sectoral reforms could unlock a significantly larger share of United Arab Emirates (UAE) investment, paving the way for expanded infrastructure, non-oil trade, and long-term economic resilience.

The UAE reported investing $71.32billion in Sub-Saharan Africa between 2021 and 2025.

Though the UAE did not provide a country-by-country breakdown, Nigeria’s capital importation from the Gulf nation jumped 87.8 percent to $728.81million in 2025 from $388.01million in 2024, according to the National Bureau of Statistics (NBS) data.

The NBS data showed that Nigeria attracted $2.08billion in capital from the UAE between 2021 and 2025, rising to $2.28billion after adding the $194.51million recorded in the first quarter (Q1) of 2026.

The development came as the UAE identified renewable energy, infrastructure and digital innovation as priority areas for long-term investment and sustainable development across Africa.

The UAE Minister of State, Saeed bin Mubarak Al Hajeri, said the country viewed Africa as a strategic partner in its economic diversification agenda.

Al Hajeri said in a recent interview that, ‘The UAE believes in the importance of building partnerships that are resilient, strategic, and aligned with long-term national priorities. In this context, the UAE sees its engagement and partnership across Africa as even more essential.’

He said the UAE had invested about $71.32billion in Sub-Saharan Africa between 2021 and 2025.

Al Hajeri also said the UAE had committed more than $70billion to renewable and green energy projects across the continent through initiatives including Masdar’s $10billion programme and the Etihad 7 platform.

According to the official, the UAE was also expanding its investments in infrastructure and logistics through DP World and AD Ports Group, as well as through financing from the Abu Dhabi Fund for Development.

He said the investments would improve transport networks, reduce the cost of doing business, expand access to electricity, create jobs and promote technology and skills transfer across African countries.

NBS data showed a clear upward trend in UAE-linked capital importation into Nigeria in the period under review. Capital inflow from the UAE fell by 21.2 percent from $357.46million in 2021 to $281.78million in 2022, before rising by 16.6 percent to $328.48million in 2023. It increased by 18.1 percent to $388.01million in 2024 and surged 87.8 percent to $728.81million in 2025.

Nigeria subsequently recorded $194.51million in capital importation from the UAE in the first quarter of 2026. The figures put total UAE-linked capital importation at $2.08billion over the five years from 2021 to 2025 and $2.28billion when Q1 2026 is included.

Speaking to the relevance of foreign investment in Nigeria, Leye Kupoluyi, president of the Lagos Chamber of Commerce and Industry said Nigeria’s improving economic conditions could strengthen its position as an investment destination for the UAE and other foreign investors.

He said rising foreign reserves, greater economic stability and Nigeria’s large youthful population could improve investor confidence.

‘Generally, when you look at the world economy, if money is a plant that you have to plant, definitely it will grow better in Sub-Saharan Africa, no doubt. When you look at the return on investment and the growth generally, you know that some of those countries in Europe, which I won’t mention, are having negative growth. When their growth is not negative, it’s contagious,’ Kupoluyi said.

He added, ‘But you see a country like Nigeria, let’s face it, in the last few years, there has been stability; our foreign reserves have grown; those are the things that create confidence in any economy. There is no doubt there is more confidence in the Nigerian economy, actually, for foreign direct investment.’

Kupoluyi said Nigeria’s demographics also gave it an advantage over ageing economies in other parts of the world.

‘Secondly, you know the population is now to our advantage. Why? We have more people like you in Nigeria than me. In other words, the population demography for the youth is more than for the elderly, which means that the environment is vibrant. I think it’s just like another one, it’s an investment choice,’ he said.

The LCCI president said investors would continue to compare the returns available in Africa with those in mature economies when deciding where to deploy capital.

‘Will I put my $1million for an investment in Africa? Or will I put the $1million in an investment somewhere else in Europe? Where will this money go? To grow better in Africa, no doubt. Possibly that is why they have this appetite for investing in Africa,’ he said.

When I look back at the evolution of data science, what stands out to me is how much the discipline has changed, not just in the tools we use, but in the way we think about solving problems.

In the early stages of my career, data science was often defined by the amount of work required before meaningful insights could be uncovered. A significant part of our time was spent collecting data, cleaning imperfect datasets, building models from the ground up, and manually testing different approaches to understand what worked best.

That process required patience and precision. Data scientists had to understand the details behind every dataset, make careful decisions about how information was prepared, and continuously refine models until they could provide reliable results. The work was challenging, but it also built a strong foundation for the field.

Over time, however, the world around us changed. Businesses began generating more data than ever before, and the demand for faster, more intelligent decision-making continued to grow. Traditional approaches to data science remained valuable, but organisations needed new ways to experiment, innovate, and respond to increasingly complex challenges.

This is where generative AI has introduced a new era for the field. With the rise of foundation models and AI-powered tools, data scientists can now accelerate parts of their workflow that previously required significant manual effort. From assisting with experimentation and analysis to supporting model development, these technologies are changing how we approach data science.

What excites me about this shift is not that AI is replacing the work we have always done. Rather, it is expanding what we are capable of achieving. Generative AI is allowing data scientists to spend less time on repetitive processes and more time focusing on what has always been at the heart of the profession: solving meaningful problems, creating value, and helping organisations make better decisions.

From building models manually to accelerating innovation

When I look back at how data science was practised years ago, one thing that stands out is how much of the work happened before a model could even begin to deliver value.

Building a successful data solution was often a long and detailed process. Data scientists spent a significant amount of time collecting and preparing data, cleaning inconsistencies, engineering the right features, testing different approaches, and refining models until they could produce reliable results. Every step required careful

thinking because the quality of the final outcome depended heavily on the decisions made along the way.

That process built the foundation of modern data science. It taught us the importance of understanding data deeply and approaching problems with curiosity and precision. However, as businesses began dealing with larger amounts of information and the demand for faster insights increased, it became clear that we needed new ways to work.

Generative AI and foundation models are now changing that workflow. Tasks that once required significant manual effort can increasingly be supported by intelligent systems that help data scientists explore ideas faster, automate repetitive processes, and accelerate experimentation.

What I find most exciting about this shift is not simply the speed it brings, but the opportunity it creates. When data scientists spend less time on repetitive tasks, they have more time to focus on what truly matters, understanding business challenges, asking better questions, and building solutions that create real value.

The future of data science will not be defined by how much manual work we can complete. It will be defined by how effectively we can combine human expertise with AI capabilities to solve bigger and more meaningful problems.

Foundation models are changing how we work with data

One of the most significant changes I have seen in data science is the way we are beginning to interact with information. For years, working with data often meant creating specialised tools and models designed for specific tasks. While that approach delivered value, it also required significant time, resources, and expertise.

Foundation models are changing that process.

These models are creating new possibilities for how businesses and data professionals can understand and work with information. Instead of relying only on traditional methods of analysis, we can now use AI systems that are capable of processing different types of data, recognizing patterns, and helping us generate insights in ways that were previously difficult to achieve.

One area where this change is especially noticeable is with unstructured data. A large portion of business information exists outside traditional databases, in documents, customer conversations, research materials, images, and other forms of content.

Foundation models are helping organisations analyse this information at scale, uncovering insights that may have previously remained difficult to access.

They are also changing how teams approach experimentation and research. Tasks such as summarising large volumes of information, exploring ideas, generating initial analyses, and supporting problem-solving can now be accelerated with the assistance of AI.

What I find most interesting about this evolution is the shift in the role of the data scientist. The future is not about building every tool from scratch. It is about knowing how to guide intelligent systems, ask the right questions, evaluate the results, and apply those insights to meaningful business challenges.

The value of a data scientist will increasingly come from the ability to combine technical expertise with critical thinking and domain knowledge. AI can help us process information faster, but human judgement remains essential in determining what information matters and how it should be used.

The rise of AI-powered decision intelligence

One of the biggest shifts I have noticed in recent years is that businesses are starting to expect more from their data. For a long time, organisations relied heavily on dashboards and reports to understand what had already happened. These tools were valuable, but they often left leaders with another important question: What should we do next?

Data has always been useful for explaining performance, but the future of decision-making requires something more. Businesses need systems that can help them recognise patterns, explore possibilities, and make better decisions in real time.

This is where AI-powered decision intelligence is beginning to reshape how organisations operate. By combining data science, artificial intelligence, and advanced analytics, businesses can move beyond simply reviewing information and start using technology to support strategic decisions.

AI systems can analyse complex datasets, identify patterns that may not be immediately visible, simulate different outcomes, and provide recommendations based on available information. Instead of relying only on historical reports, leaders can explore different scenarios and make decisions with a clearer understanding of potential risks and opportunities.

What I find most significant about this change is the growing connection between data science and business strategy. Data scientists are no longer working only behind the scenes to build models and generate insights. Their work is becoming increasingly connected to the decisions that shape products, operations, customer experiences, and long-term growth.

The future of data science is not just about creating better models. It is about helping organisations make better choices. As AI continues to advance, the role of data science will become even more central to how businesses think, plan, and compete.

How the role of data scientists is evolving

Every major technological advancement changes the way people work, and generative AI is no different. As AI systems become more powerful, one question has become increasingly common: Will data scientists still have the same role in the future?

From my perspective, the answer is yes, but the role will continue to evolve.

Data science has never been only about building models or writing code. The strongest data scientists have always been people who can understand complex problems, ask the right questions, and connect technical solutions to real business outcomes. Those skills become even more valuable in an AI-driven world.

Generative AI may automate parts of the data science process, but it does not replace the need for human judgement. Someone still needs to understand the business context behind a problem, determine which questions are worth asking, evaluate whether an AI-generated insight is meaningful, and ensure that decisions are made responsibly.

The data scientist of the future will need to expand beyond technical expertise. A strong understanding of business will become increasingly important because the value of data science is not measured by the complexity of a model; it is measured by the impact it creates. Data scientists will also need AI literacy, not just to use these tools effectively, but to understand their limitations and make informed decisions about when and how they should be applied.

Perhaps one of the most important skills moving forward will be the ability to interpret and challenge AI outputs. AI systems can identify patterns and generate recommendations, but they do not understand business priorities, ethical considerations, or human consequences in the same way people do. Data scientists will remain essential because they provide the judgement needed to turn AI capabilities into responsible and meaningful outcomes.

I believe the future of data science is not a competition between humans and machines. It is a collaboration. The data scientists who thrive will be those who learn how to combine technical knowledge, business understanding, and human judgement with the power of AI.

The future of data science will not be defined by the tools we use, but by how effectively we use them to solve meaningful problems.

Generative AI and foundation models are changing the way data scientists work, but they are not changing the purpose of the profession. The goal has never been simply to build models, create algorithms, or process large amounts of information. The real value of data science has always been its ability to help organisations understand challenges, uncover opportunities, and make better decisions.

I believe the next generation of data scientists will be those who embrace AI as a partner rather than see it as a competitor. The professionals who succeed will not be the ones who try to do everything manually but the ones who know how to combine technical expertise, critical thinking, and business understanding with the capabilities of intelligent systems.

As AI continues to evolve, the role of the data scientist will become even more important. Technology can help us process information faster, but it is human judgement that gives that information meaning.

The future will belong to those who can bridge the gap between data, AI, and real-world impact, using technology not just to predict what may happen, but to create better outcomes for businesses and the people they serve.