Category: Business Day

The travel and tourism industry plays a major role in Nigeria’s economic development. In this interview with BusinessDay, IFEANYI EZEOKOLI, the MD/CEO, Incel Holidays and Tourism Limited, highlights the innovative ways Incel Holidays is redefining the tourism industry in Nigeria. Excerpts:

The tourism sector, to a very large extent, gives the state of health of the country. How has your experience been in Nigeria’s tourism sector, especially in the last 2 years?

The last two years have been both challenging and inspiring. On the challenging side, we have had to deal with rising costs in the industry from flights, visas, and even processing our local passports due to the exchange rates. I would also add that there are also infrastructure gaps and global travel restrictions that have reshaped customer expectations. Some years ago, you could travel to Dubai with N500,000 with flight, hotel, and visa inclusive; now N500,000 can barely cover return flights even to neighbouring Ghana.

But on the positive side, there has been a strong shift in interest towards other international destinations, including our very own domestic tourism. More Nigerians are realising that they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation. Taking a cue from the last ‘Detty December’ in Lagos, seeing how Nigerians and foreigners trooped into Lagos to enjoy the excitement Lagos has to offer. That shift has kept the sector alive and given us hope for bigger opportunities ahead. Besides Lagos, we should remember Calabar Carnival, Obudu Resort, Ikogosi, and other interesting places within Nigeria.

More Nigerians are realising they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation-Ezeokoli

What unique features stand your firm out in the nation’s holiday and tourism sector?

At Incel Holidays and Tourism Limited, we offer more than just travel planning. We provide complete solutions for our clients – end-to-end travel service, which includes affordable flights, smooth visa processing, hotel bookings, transfers, corporate travels, airport protocols, and guided tours. We have holiday packages designed to be fun-filled and convenient. Also, on request, we create bespoke holiday packages so our customers can focus on enjoying their trip while we take care of everything else. This ability to simplify travel for individuals, families, and corporate clients has helped us gain the trust of our customers over the years.

There are so many players in Nigeria’s tourism industry. How does your firm handle competition and disruptions in the industry?

Travel and tourism in Nigeria is a highly competitive space. However, we don’t approach it with fear. Instead, it pushes us to be innovative, go the extra mile to satisfy our customers while staying flexible.

When challenges come up-like changes in exchange rates, flight cancellations, or new rules-we adjust quickly. We negotiate new deals, look for new destinations, and keep open communication with our clients. This ability to adapt, along with our personal touch, helps us succeed in a very competitive industry.

The new government policies concerning exchange rates and subsidy removal created opportunities and new challenges. Could you please share your experience on how your firm tapped the opportunities and addressed the new challenges?

The policies definitely raised travel costs, but they also pushed us to think smarter. We leveraged stronger partnerships with airlines, other agencies, travel vendors, and hotel groups to secure discounted deals. We also expanded our domestic travel options, encouraging Nigerians to visit and see places in Nigeria. We have invested in reaching more customers around the world, using our Dubai branch as a key example. We are also using digital tools to provide our clients with more flexible payment options. While we faced challenges, these also gave us the opportunity to diversify and innovate. Nigeria will be 65 years old on October 1st. What message do you have for the country’s leaders at the federal and state levels?

At 65, Nigeria has much to celebrate, but we also need to look forward. I want our leaders to understand that tourism can be an integral part of our economy if we focus on it. Investing in infrastructure, safety, and promoting our destinations will attract foreign visitors and encourage Nigerians to explore their own country. If the government and private sector collaborate effectively, tourism can create as many jobs and contribute to the nations GDP as much as the oil and gas industry in the next ten years.

The Yuletide season is almost here and it is the time of the year customers expect a unique experience. Any special packages in the pipeline for your current and prospective clients?

Yes, this Christmas we have put together packages that give our clients something truly memorable. For those who want to explore closer to home, we are running a 7-DAY CHRISTMAS ADVENTURE ACROSS FOUR WEST AFRICAN CITIES, COTONOU, OUIDAH, LOMÉ, AND ACCRA.

It is a mix of history, culture, and fun, with stops at places like the Amazon Statue in the Republic of Benin, Casa del Papa resort, a Lomé boat cruise, and Accra’s Kwame Nkrumah Park. It promises to be a thrilling and relaxed road trip in a comfortable air-conditioned bus. The tour runs from 22nd – 28th December, 2025. This special offer allows clients to deposit only 30% by 15th October, and the balance due by 25th November, 2025.

For travellers looking further abroad, we have created a Singapore package that covers four nights of sightseeing, including Merlion Park, the famous Cable Car ride, and a guided tour of Scentopia. Everything from the visa to airport transfers and hotels will be handled by us thus making the trip stress-free. This valid from 1st September 2025 to 20th January 2026.

And for sports fans, December is extra special because of the AFCON 2025 in Morocco from Dec 21 to 31, 2025. Our Package takes you to three live Super Eagles matches, with 10 nights’ accommodation, tours, visa support with flights included.

Our Christmas package this year is different from the norm, as there are options that fit different target markets in the travel space. For those looking for a ONE-STOP travel partner this Yuletide season, Incel Tourism offers you everything from visa assistance and processing to flight tickets, hotel bookings and airport transfers. Our end-to-end solutions make your travel easy and stress-free. For bookings and further enquiries Call/WhatsApp 09113218885, 09113218886 or mail [email protected]

What is the outlook for the holiday and tourism sector in Nigeria?

The future is definitely bright for Nigeria’s tourism industry. Nigerians love to travel and experience new things. Aside from wanting to ‘JAPA’, more people are looking to build their travel history for either tourism or relocation to study or work. The Nigeria travel space has better online booking options and greater awareness of local attractions; the tourism sector is growing. If the government invests in the travel and tour industry and collaborates with private businesses, Nigeria’s tourism industry can become one of the strongest in Africa in the coming years.

The rift between Dangote Petroleum Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has pushed up cooking gas prices by 33 percent across Nigeria, leaving many households struggling to afford the essential commodity.

A kilogramme of cooking gas has risen from N1200 to N1600.

Across Lagos, Abuja, Port Harcourt and other major cities on Tuesday, residents were forced to ration consumption or resort to alternative fuels such as kerosene, firewood and charcoal, further straining household budgets.

Liquefied Petroleum Gas (LPG) retailers said they were battling acute shortages, as supply from both local producers and importers tightened significantly.

‘The situation is unbearable,’ said Chinyere Nwankwo, a mother of three who lives in Abuja. ‘I bought gas at N1,200 per kilogramme two weeks ago, but today it is N1,600. We can’t continue like this. Families are being suffocated.’

Industry sources blame the scarcity on disagreement between PENGASSAN and the Dangote Petroleum Refinery over pricing, supply channels and contractual terms.

‘LPG scarcity persists nationwide as PENGASSAN delays LPG discharge in Apapa,’ said LPG in Nigeria, a social enterprise that started in 2011 to grow the Nigerian LPG industry through advocacy.

Although the 650,000-barrel-per-day facility is expected to reduce Nigeria’s dependence on imports, reports suggest that limited volumes are being released into the domestic market. This, combined with rising global gas prices and foreign exchange pressures, has worsened the crisis.

Retailers argue that the federal government has failed to intervene decisively to stabilise the sector. ‘We are left at the mercy of producers and middlemen as the scarcity continues,’ said Adam Sulaimon, a retailer in Lagos.

‘Every day since last weekend, the price has gone up, and we have no choice but to pass it to consumers. If the scarcity continues, it could hit N2,000 per kilogramme before next week.’

The surge in cooking gas prices has far-reaching implications. Beyond household hardship, it undermines Nigeria’s clean energy transition agenda, which aims to discourage the use of firewood and charcoal due to concerns about deforestation and the environment.

The issue may escalate without quick resolution

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) warns that without a swift resolution between PENGASSAN, Dangote, and other key stakeholders, the crisis could escalate into a national emergency.

Olatunbosun Oladapo, NALPGAM’s president, said its members are on standby to get the supply. However, vessel discharge has been stopped on the back of the PENGASSAN strike.

He said: ‘There’s no loading in any depot as we speak now. Our members are there to pick gas, but there’s nowhere to pick. Virtually all the storage facilities are dry, and the vessel was not allowed to discharge.

‘There’s no Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Maritime Administration and Safety Agency (NIMASA), and other officers to inspect because of this PENGASSAN strike.

‘So it’s a national issue, and we are seeing the effects. The earlier we solve this problem, the better for the country. Because if there is no gas supply for the next three days, then there will be problems.’

The NMDPRA has yet to issue a clear statement, though insiders say the government is weighing options that include emergency imports and stakeholder engagement.

For now, Nigerians remain in the grip of soaring costs. ‘Cooking gas should not be a luxury,’ said Nwankwo. ‘But right now, it feels like only the rich can afford to cook.’

Meeting continues after Monday deadlock

The mediation meeting to resolve the ongoing dispute between Dangote Refinery and PENSASSAN ended in a deadlock on Monday as both parties could not come to terms, after about nine hours of meeting.

The meeting, which was chaired by Muhammad Dingyadi, minister of Labour and Employment, had the leadership of PENGASSAN, Dangote Refinery, minister of finance, and key directors of the Nigerian Upstream Petroleum Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority in attendance.

Speaking to journalists after the meeting at the early hours of Tuesday, Festus Osifo, president of PENGASSAN, explained that the meeting could not resolve the issues at hand as the management of Dangote Refinery refused to reinstate the sacked staff.

He insisted that the demand of the association was the reinstatement of the 800 staff who were sacked, adding that the strike action would continue without their reinstatement.

‘Yes, as you could see, we’ve been here for about nine hours trying to find solutions. And we’ve had numerous deliberations from the larger team. We broke into a smaller team, trying to find solutions. But unfortunately, there is no solution tonight.

‘All we want is that we have 800 people plus that are at home. These people are fathers; they are mothers, and their careers are at stake. When you terminate people the way you’ve terminated them, it will be extremely difficult for them to find jobs anywhere.

‘ Some of these people are trainees and you said they have committed sabotage. So, if they go home like that, there is no other company they will get jobs to do again in Nigeria because they have seen them as saboteurs. So, these are careers that will be damaged if proper remedy is not put in place.

‘So, that is why for us, our position has been very clear, you have to reinstate these people. If you reinstate them tonight, we will call off our action tonight, but unfortunately, that reinstatement did not happen. And we were not able to reach conclusions on the subject.

‘So they have asked us to come back again by 2 o’clock. So, we will reconvene and we pray that God should touch the heart of the capitalists. God should touch the heart of the oppressors for them to call our people back to work,’ Osifo said.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its industrial action, which commenced on Monday.

This follows the reconciliatory meetings which took place in Abuja on Monday and Tuesday, at the instance of Muhammad Dingyadi, the minister of labour and employment. Dangote Refinery, at the meeting had agreed to deploy disengaged workers, while PENGASSAN committed to call off the strike.

PENGASSAN had embarked on the strike action to protest the sack of 800 workers by Dangote Refinery. The Association had said the action is an affront to all workers in Nigeria and a deliberate violation of Nigeria’s labour laws, the Constitution, and ILO conventions. However, Festus Osifo, President of PENGASSAN, who announced the suspension on Wednesday in Abuja, noted that the union suspended the strike strictly out of respect for the Federal Government and its institutions involved in the conciliation process.

He warned that the union would not hesitate to resume the strike if Dangote’s management fail to act in accordance to the agreement to recall the affected staff.

He said: ‘We are not happy with the terms of the agreement because it did not capture our main demand of recalling the 800 sacked Nigerians. But out of respect for government institutions, for the National Security Adviser, the DSS, the Chief Reconciliator of the Federation, and ministers who worked tirelessly into the early hours of the morning to mediate, we decided to suspend the action.

‘However, let me be clear: if Dangote fails to keep its part, we will resume immediately, without any warning.

‘We know that Dangote does not play by the rules or respect agreements. We believe and suspect that some of the promises extracted during the negotiations will not be honoured. But because we respect due process and institutions of government, we will give them that benefit of doubt. Yet, any breach will be met with severe and immediate response.’ Osifo speaking further, explained that PENGASSAN’s resolve to withdraw services nationwide was to protect young oil and gas workers who voluntarily agreed to be part of the union.

He noted that the oil and gas workforce has carried the burden of Nigeria’s economy for decades, providing over 90 percent of the nation’s foreign exchange earnings. ‘We know who we are and what we stand for. We are patriots who love this country more than any single individual, and that is why, despite our reservations, we chose to suspend this strike in deference to government efforts.

‘We will be monitoring closely. Any slip, any breach, any part of this agreement that is not kept, we will not issue further notice. We will not give any warning. We will resume the suspended industrial action immediately. That is our resolution.

‘Let’s see where they will take them to, the grey area where we were not happy with was very clear, it was the fact that we wanted them to send all of them to the Refinery but the government moved other wise, to find a middle point.

‘On paper it has been that they will take them back but in reality we have not seen it, so the issue is that we will not be deceived because they said they will take them back, then we will now wait, one, to five days, if we do not see any traction, we will not be deceived and that is why what we said was that we have suspended the industrial action.

‘We are in good faith as a demonstration to government that we respect institution, that we are extremely patriotic but this suspended action, we will go back to the trenches immediately we see any foul play, we will come back without any notice.’

Osifo affirmed that PENGASSAN’s struggle was not against progress but against injustice, and that the union would remain steadfast in defending the rights and welfare of its members, no matter whose interest was at stake.

The Edo State Internal Revenue Service, (EIRS) said it has generated the sum of N79 billion out of the N100 billion target by the State in 2025 fiscal in the last nine months.

Oladele Bankole-Balogun, the executive chairman of EIRS, disclosed this during a meeting with heads of Ministries, Departments and Agencies, MDAs permanent secretaries, and directors in Benin- City.

Bankole-Balogun, however, warned that leakages by Ministries, Departments and Agencies, MDAs, threaten sustainable growth.

He added that between January and June, 2025, the agency generated N52.6 billion representing a 46 per cent increase over the 2024 generation.

The EIRS who described revenue as the ‘lifeline of development,’ insisted that Edo must position itself as a frontrunner in implementing the new framework.

He also disclosed that the state government would be adopting the Treasury Single Account (TSA) as part of policy reforms to boost revenue generation and block leakages.

‘These results are commendable. Yet, by the standards of the governor, the expectations of Edo people, and the possibilities before us, there is still much more to do. ‘A fundamental tool for achieving this is the Single Treasury Account (TSA), which we have begun to institutionalize.It ensures that all government receipts flow through a transparent,centralized account-eliminating cash handling,reducing leakages, and improving accountability.

‘Going forward,we will insist that all revenue streams be remitted into the IGR account, with proper digital trials and accountability’, he said.

He explained that there was the need to close leakages, comply fully with the Treasury Single Account (TSA), and align with the Nigerian Tax Reform Acts set to take effect Jan. 1, 2026.

He said the meeting was more than administrative, and a clarion call for unity, collaboration, and shared purpose in building the Edo State of our dreams

‘Revenue is not an end in itself; it is a means – a means to better roads, stronger health systems, vibrant education, safe communities, and dignity for all citizens of Edo State. ‘Every MDA must become ‘a revenue-generating asset in its own right’ while ensuring compliance with digital systems and TSA requirements.

While highlighting the opportunities in the 2025 Nigerian Tax Reform Acts, he said it would consolidate multiple tax laws into a unified Nigeria Tax Act (NTA).

He also explained that the reforms expanded the tax net to digital assets and informal commerce, introduced a four per cent development levy, and established new institutions like the Nigeria Revenue Service (NRS) and a Tax Ombudsman.

‘The new framework simplifies, digitalises, and makes tax administration more predictable.

‘Edo must align internal processes, adopt e-receipting and digital reporting, and leverage our informal and digital economy for sustainable growth,’ he added.

He, however, urged MDAs handling land, urban planning, permits, and business registrations to strengthen compliance under the restructured stamp duty and real estate provisions.

He also called for sustained partnership, with the MDAs stressing that, ‘We do not ask for compliance by fiat, but by reason, trust, systems, and partnership.

‘Think of the untapped potential in land and planning agencies, in building control, in informal trade regulation, in permitting systems, and in new business registration,’ he advised.

‘We invite each of you to own the vision, to embed revenue-conscious thinking in your agencies, and to commit to the discipline that accountability demands.’, stated.

On his party, Jackson Eribo, Executive Director of MDA Services, listed some of the challenges hindering revenue optimisation to include illegal opening of revenue accounts, cash collections against the state’s cashless policy, and partial remittances

Eribo listed other challenges to include fragmentation of systems outside the Edo Revenue Administration System (ERAS), and non-compliance with Tax Clearance Certificate (TCC) requirements.

He noted that the continued violation of the state’s cashless policy through cash collections and partial remittances remains a serious concern.

President Bola Tinubu has said the Nigerian economy is recovering faster than expected due to the reforms his administration embarked on more than two years ago, adding that ‘yesterday’s pains are giving way to relief.’

‘I am pleased to report that we have finally turned the corner. The worst is over, I say. Our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results,’ Tinubu said in a televised Independence Day broadcast Wednesday.

Tinubu, who took over from late President Muhammadu Buhari some two years ago, said he inherited a near-collapsed economy, a situation that warranted his resolve to take on bold market reforms to put the country on the path of growth.

The reforms, though unpopular, phased out fuel subsidies that crippled the country’s finances while benefiting ‘a tiny minority’ and unified the exchange rate in a bid to make it more market-driven and remove longstanding arbitrage. The consequences of the reforms were mixed. For Nigerians, it crushed spending power as inflation soared to a multi-year high and led to the worst cost-of-living crisis in a generation. Poverty rose quickly and dried up the middle-class economy.

On the other hand, Nigeria’s economy became more resilient with annual growth now at 4.23 per cent as of the second quarter of 2025, the quickest pace since 2021, while inflation has continued to cool for the fifth straight month this year, a development that has allowed the monetary authorities slashed key interest rates by half point to 27 percent in first since 2020. ‘Our administration has redirected the economy towards a more inclusive path, channeling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes. These initiatives will generally improve Nigerians’ quality of life.’

He noted that his administration has achieved 12 economic milestones, including achieving more than N20 trillion in non-oil revenues as of August. That’s more than the total figure for last year at N21.7 trillion.

Tinubu said Nigeria’s debt service-to-revenue ratio has reduced to less than 50 per cent from 97 per cent, adding that with external reserves at more than $42 billion, the naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024.

According to the president, Nigeria’s tax-to-GDP ratio has risen to 13.5 per cent from less than 10 per cent, with the ratio expected to increase further when the new tax law takes effect in January.

‘Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home,’ the president said.

‘Nigeria’s trade surplus increased by 44.3% in Q2 2025 to N7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent.’

President Bola Ahmed Tinubu on Wednesday called on the Central Bank of Nigeria (CBN) to establish an endowment fund for the creative sector following the completion of the National Theatre, now renamed the Wole Soyinka Centre for Culture and Creative Arts.

Speaking at the official reopening of the iconic facility in Lagos, the President said he would personally contribute to the proposed fund, which is aimed at supporting long-term growth and sustainability in Nigeria’s creative industry. Tinubu also urged citizens to shift their mindset, emphasising the importance of telling positive stories about Nigeria and fostering belief in the country’s potential.

CBN Governor Olayemi Cardoso, speaking at the event, revealed that the Bankers’ Committee invested N68 billion in the restoration and modernisation of the National Theatre complex.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its industrial action, which commenced on Monday.

This follows the reconciliatory meetings which took place in Abuja on Monday and Tuesday, at the instance of Muhammad Dingyadi, the minister of labour and employment. Dangote Refinery, at the meeting had agreed to deploy disengaged workers, while PENGASSAN committed to call off the strike.

PENGASSAN had embarked on the strike action to protest the sack of 800 workers by Dangote Refinery. The Association had said the action is an affront to all workers in Nigeria and a deliberate violation of Nigeria’s labour laws, the Constitution, and ILO conventions. However, Festus Osifo, President of PENGASSAN, who announced the suspension on Wednesday in Abuja, noted that the union suspended the strike strictly out of respect for the Federal Government and its institutions involved in the conciliation process.

He warned that the union would not hesitate to resume the strike if Dangote’s management fail to act in accordance to the agreement to recall the affected staff.

He said: ‘We are not happy with the terms of the agreement because it did not capture our main demand of recalling the 800 sacked Nigerians. But out of respect for government institutions, for the National Security Adviser, the DSS, the Chief Reconciliator of the Federation, and ministers who worked tirelessly into the early hours of the morning to mediate, we decided to suspend the action.

‘However, let me be clear: if Dangote fails to keep its part, we will resume immediately, without any warning.

‘We know that Dangote does not play by the rules or respect agreements. We believe and suspect that some of the promises extracted during the negotiations will not be honoured. But because we respect due process and institutions of government, we will give them that benefit of doubt. Yet, any breach will be met with severe and immediate response.’ Osifo speaking further, explained that PENGASSAN’s resolve to withdraw services nationwide was to protect young oil and gas workers who voluntarily agreed to be part of the union.

He noted that the oil and gas workforce has carried the burden of Nigeria’s economy for decades, providing over 90 percent of the nation’s foreign exchange earnings. ‘We know who we are and what we stand for. We are patriots who love this country more than any single individual, and that is why, despite our reservations, we chose to suspend this strike in deference to government efforts.

‘We will be monitoring closely. Any slip, any breach, any part of this agreement that is not kept, we will not issue further notice. We will not give any warning. We will resume the suspended industrial action immediately. That is our resolution.

‘Let’s see where they will take them to, the grey area where we were not happy with was very clear, it was the fact that we wanted them to send all of them to the Refinery but the government moved other wise, to find a middle point.

‘On paper it has been that they will take them back but in reality we have not seen it, so the issue is that we will not be deceived because they said they will take them back, then we will now wait, one, to five days, if we do not see any traction, we will not be deceived and that is why what we said was that we have suspended the industrial action.

‘We are in good faith as a demonstration to government that we respect institution, that we are extremely patriotic but this suspended action, we will go back to the trenches immediately we see any foul play, we will come back without any notice.’

Osifo affirmed that PENGASSAN’s struggle was not against progress but against injustice, and that the union would remain steadfast in defending the rights and welfare of its members, no matter whose interest was at stake.

Estate planning is the structured process of organizing and managing an individual’s assets during their lifetime and arranging for their efficient transfer upon death or incapacity. It encompasses the preparation of legal instruments, such as wills, trusts, and powers of attorney, to ensure asset preservation, provide for dependents, and align asset distribution with the individual’s personal, financial, and philanthropic objectives, all in compliance with applicable laws and regulations.

Estate planning remains one of the most important but neglected areas of family life in Nigeria particularly for aging parents. Most families are often left in crisis situations when a parent, and in most cases the breadwinner, becomes incapacitated or dies suddenly with no plan in place as to how the surviving family members can have access to his assets or continue to manage his business. The consequence has been that the family becomes confused with hitherto hidden crisis suddenly resurrecting leading to court battles, strained family relationships, or even the loss of hard-earned property and investments.

This article aims to essentially provide a concise but thorough step-by-step overview of what estate planning entails for elderly parents in Nigeria, the key factors to be considered, and the ways in which families can begin the process in a culturally sensitive and legally correct manner.

Why Estate Planning?

Aging inevitably comes with higher risks to health and diminished abilities to manage one’s finances or be involved in the day-to-day management and negotiation of complicated property issues. Forward and thoughtful planning process gives aging parents the chance to make intelligent decisions regarding:

How their assets are carefully organised and eventually passed on to their beneficiaries.

Who acts on their behalf should they no longer be able to do so or be involved in the day-to-day running of the business.

How would their dependents, spouse, or children be taken care of financially.

How do they ensure that the family cohesion is maintained and that family conflicts are avoided when they pass on.

In many jurisdictions, including Nigeria, improperly constituted Estate Plan has resulted in numerous court cases involving land, cash, businesses, and pensions. In the absence of properly arranged and documented Estate plan, some members of the family or institutions forcefully takeover these assets which are neither documented nor legally transferred to them. All these could conveniently be avoided with proper Estate Plan.

Estate Plan for aging parents in Nigeria need not be complex, although it must be concise, thoughtful and purposeful. The overriding aim and principle should be to ensure the wishes of the parent are respected, and their beneficiaries are not left in confusion or disputes when the Settlor passes on.

One of the first and most important steps in estate planning is the preparation of a valid legal will. This is the most traditional way of giving assets to loved ones. A will is a short statement of the maker’s wishes regarding how his or her assets should be distributed upon death. Although not exhaustive, some of the most common assets that may be disposed of in a will include property, bank accounts, vehicles, investments, pensions, personal belongings and digital assets.

A properly written will provides protection from inheritance disputes and minimizes interference from customary, traditional, or statutory claims that may conflict with the deceased’s true intentions. It ensures that the distribution of assets is carried out according to the testator’s wishes, not left to chance or contested interpretations. Given the complex nature of wills, especially in a culturally diverse legal environment like Nigeria, it is strongly advised that Settlors seek legal counsel when preparing and executing a will. This ensures that the document carries the full force of law, is free from ambiguity and less likely to be challenged.

It is possible that some aging parents may not be disposed to writing a Will (often regarded as remembrance of death).

In which case, a Settlor could consider setting up a Trust especially where the estate is more complex say, with multiple spouses, young children, or vulnerable family members. A Trust allows assets to be held and managed on behalf of beneficiaries, typically through a licensed Trust company. In Nigeria, Trust Companies are registered and regulated by the Nigerian Securities and Exchange Commission (SEC) and have a legal obligation to administer the trust in good faith, ensuring the fulfillment of the terms as specified by the Settlor over the years. Trusts are particularly helpful when money disbursement, property administration, or wealth accumulation for the subsequent generation needs to be carried out professionally and gradually distributed.

Another significant part of the estate planning process is beneficiary naming on retirement accounts, life insurance policies, cooperative contributions, and other such financial instruments. Under the Nigerian Pension law, the named Next-of-Kin takes no benefit of the amounts standing to the credit of the deceased’s Retirement benefits. The Will must specifically name the beneficiaries in a formal Will. Parents should thus scrutinize and regularly update their estate plan to ensure that there are no lacunae that could be exploited by persons waiting to pounce on their assets once they pass on.

Apart from ensuring that assets are distributed to named beneficiaries either in the Will or Trust instruments, there is also the concern of decision-making in the event of sickness or incapability. A power of attorney can be utilized in appointing a person that is acceptable and trusteed by the Settlor to make legal, financial, or even medical decisions on behalf of the parent when the parent become incapacitated or is unable to manage his/her affairs. This instrument can become exceptionally useful in the management of day-to-day affairs such as accessing bank accounts, settling bills, or dealing with property, and needs to be balanced in terms of adopting a preventive approach versus an aftereffect one.

While relating with others, it is possible that a parent may have entered into contracts or agreements that either increased his/her assets or imposed liabilities on them or claims against their assets. It is therefore important that they are encouraged to document every asset that may have accrued from such relationships or liabilities that they may have been exposed to. Parents need to be encouraged to maintain an up-to-date list of all that they own: land, buildings, shares, pensions, cars and of any debts payable to or owed by them. That document, whether kept in paper form or electronically, helps family members and executors to ascertain whatever assets the deceased has, or liabilities owed when family members review his/her affairs. Having such clear and concise assets list would ultimately prevent disputes or conflicts from family members or those claiming against the estate.

Finally, although frequently overlooked and left to the discretion of family members, it is useful for parents to give guidance or direction either in the Will or Trust instrument regarding their funeral wishes, such as the nature of the funeral, where they wish to be buried, and what cultural or religious practices they would like their families to adopt, follow or outrightly avoid. Although intensely personal, providing the needed guidance or direction will not only help to soften the emotional trauma that the family is subjected to at that trying moment but also minimize the risk of argument as to how the deceased wants to be buried or the nature of the funeral celebrations.

The above, all ccollectively brought together in a brief, written plan are the basis of an empathetic estate planning process. They not only give comfort to elderly parents but also give their families the clarity and organization needed to manage the future with understanding, dignity and harmony.

Seyi Amao’s Emotional Appetite Therapy has ignited a powerful movement for women’s health, as demonstrated at an inspiring pre-launch dinner in Lagos.

The intimate event, themed ‘Come Hungry, Leave Whole,’ brought together award-winning author and PCOS Conquerors founder, Seyi Amao with advocates, medical experts, and community partners to champion holistic wellness, particularly for women navigating Polycystic Ovary Syndrome (PCOS) and other health challenges, blending storytelling, science, and faith in an unforgettable evening.

Hosted by Deborah Oguike, known as ‘Debbie The Media Girl,’ the evening was a collaboration between One Wellness Clinic and PCOS Conquerors, with support from ProSkin Aesthetic Clinic, Adam Scents, Sissy Remi, Tsemaye Binitie, BB Artistry, and Orange Mic. Together, they crafted an experience that mirrored the heart of Amao’s book, a call to move beyond feeding emotional cravings to nourishing lives holistically. Amao described Emotional Appetite Therapy, as more than a book, as it is a pathway to wholeness. Her vision came alive through a carefully curated evening that combined expert insights, personal stories, and experiential elements. Guests were treated to a stirring reflection from Dr. Elizabeth ‘Dr. Fabulous’ Falabi, medical director of Feet2Fit Integrative Health and Wellness, who shared her own wellness journey.

A panel moderated by Sophia O. Emifoniye, CEO of Brunch Avenue, featured Dr. Jean Nassar, Pamela Bazi of One Wellness, and Hala El Hachem of ProSkin, diving into critical topics like fertility, nutrition, and holistic health.

The event also highlighted the intersection of financial and physical resilience, with Mrs. Joke Adu of Standard Chartered Bank emphasizing how financial empowerment supports overall well-being.

Pastor Moses Ida-Michaels of EcclesiaHills closed the evening with a blessing, framing the night as the start of a broader movement for women’s health.

The Port Harcourt Chamber of Commerce, Industry, Mines, and Agriculture (PHCCIMA), is always in search of opportunities to businesses in the oil city. The City Chamber is fighting to create alternative businesses other than oil and gas, though not ignoring the hydrocarbon industry.

Since the days of Emi Membere-Otaji as president, the PHCCIMA has worked to reposition its focus to non-oil businesses especially by attracting foreign business partners to open doors to the business community in the Garden City.

Now, Chinyere Nwoga, the first female president, has revealed to members how best to queue into the wealth avenue of the Chambers. She urged members to dive into chamber programmes to unlock a wealth of business opportunities.

Speaking at the third-quarter General Forum at the PHCCIMA secretariat in Port Harcourt, she highlighted the importance of leveraging the chamber’s resources to fuel business success. Nwoga emphasized that active participation in chamber activities is key to reaping the full benefits of membership. The well-attended forum showcased strategic initiatives, including collaborations with the Lagos City chamber, trade group programmes, and member-engagement opportunities, all aimed at driving business growth.

The forum featured discussions on the upcoming 2025 Port Harcourt International Trade Fair with calls for innovative strategies to elevate its global stature and explore franchising opportunities. Trade group leaders delivered impactful presentations.

Fenibo Fubara, ICT Trade Group chairman, advocated for digitizing chamber processes to streamline resource access and attract new members.

Ofon Udofia, Export/Import Trade Group chairman, urged PHCCIMA to push for reduced bureaucratic hurdles at southern ports, addressing International Maritime Organization (IMO) policies causing rate disparities.

Jack Daboikiabo (SME/NGO Trade Group) and Chief Ernest Elochukwu (Membership Committee) shared their groups’ achievements and upcoming events.

The forum also celebrated the induction of 12 new member-companies, with oaths administered by past President Emeka Unachukwu, an engineer and doctorate degree holder in International Trade. Notable attendees included a past president (Vincent Furo), 1st deputy president Isaac Wonwu, Financial Secretary Emmanuel Ogbonda, and Welfare Secretary Florence Nwosibe, all offering valuable insights for chamber progress.

A highlight was the presentation by #StartupSouth organizers, inviting members to leverage their platform to expand markets, attract capital, and strengthen the Rivers State business ecosystem.