Category: Business Day

The Institute of Change Management (ICM) has called on Nigerian businesses to prepare for a future defined by the convergence of people, processes, and technology, noting that successful organisations will be those that approach digital transformation with intentionality and agility.

Nat Osewele, president/chairman of the council of ICM, during his address of welcome at the 2025 ICM Annual Conference themed, ‘Navigating to the Future: Synchronising People, Processes and Technology for the Next Era of Change,’ said the gathering was more than a meeting of professionals but a launchpad for transformation.

‘This conference reflects our collective commitment to shaping the future with intention, innovation, and integrity,’ Osewele stated.

He emphasised that the future is not to be feared but designed, while urging change leaders to build cultures that embrace agility, collaboration, and continuous learning.

During a panel session on ‘digital transformation and organisational agility,’ industry leaders highlighted both opportunities and challenges facing Nigerian firms.

Morolayo Igeleke, country marketing manager at UPS, stressed that successful transformation depends on leadership commitment.

‘It starts from the top,’ he said. ‘The shoulders of implementation begin with leadership, and everyone else will pick from it.

‘To invest in digital transformation as a leader, you must be digitally literate, set visions and timings, and grow incrementally. Mindset change is very difficult, but with execution and time, things will change,’ Igeleke noted. Folorunsho Aliu, group chief information officer of Dangote Industries Limited, said agility is not just speed but alignment with an organisation’s realities.

‘A lot of people are jumping to AI because it’s the real thing, but you can’t digitise processes if your business is still running on paper,’ Aliu stated. ‘You must evaluate your stage, set the right foundation, and grow organically. There is no need to rush just to catch up with everybody.’

He added that small businesses may find it easier to embed digital systems from scratch, while larger organisations must take a more structured approach.

The panel agreed that Nigerian businesses must prioritise continuous learning, workforce audits, and communication when adopting AI. Small pilot projects, investment in digital literacy, and ethical considerations were also identified as critical success factors.

Obiageli Nwobi, managing consultant at HR Allied Services Ltd, noted that AI is already embedded in everyday work.

She stated that there is an urgency to prepare today’s workforce for an AI-driven future. ‘AI has come to stay. Many of us already use it daily without realising it – from personalised recommendations to research tools.

‘The workforce of tomorrow will not only be assisted by AI, it will be shaped by it. The focus is shifting from jobs to skills, and success will depend on human-AI collaboration.’

It was noted that AI is increasingly taking over repetitive jobs, but new roles are also being created, from AI ethics officers to process improvement engineers.

‘Our jobs are not disappearing; they are evolving.’

As Nigeria marks its 65th year of independence today, the nation’s political journey invites a quiet introspection. Beneath today’s celebrations lies a system that shuns and treats political conflict as a threat rather than the lifeblood of genuine democracy. And despite being conflict averse, Nigerian politics in the six and a half decades, has often resembled a battlefield where opposition signals enmity.

Consider a key basis upon which the Murtala/Obasanjo military regime decided to abandon the British parliamentary model for an American presidential system. They sincerely wanted to engineer unity through institutional design. General Olusegun Obasanjo, then second-in-command to General Murtala Mohammed, captured the thinking of politicians: ‘In most Nigerian languages, the word for opposition is the same word for ‘enemy’. And what do you do with an enemy? You crush him; you do not spare anything.’ This explains the approach to politics for most Nigerian politicians: ‘crush-or-be-crushed’.

The military viewed parliamentary debates as breeding grounds for violence. The solution seemed easy: eliminate opposition politics to eliminate political violence and forge unity by minimising confrontation. What they saw as a solution overlooked the simple truth that true unity emerges from shared experiences, not decrees; they could not legislate harmony any more than one can force roots into unwilling soil.

The logic revealed a profound misunderstanding of democracy itself; they expected a pluralistic, multi-ethnic society to function without opposition voices. They mistook external uniformity for genuine unity. What they created was not harmony but a system that drove conflict underground, where it festered and waited for opportunity to erupt in more destructive forms time and again. Aversion to conflict was deeply woven into the fabric of post-colonial governance.

The 1914 amalgamation by British colonial administrators created a geographical entity, not a unified nation. Ethnic nationalities were bundled together for administrative convenience, their diverse loyalties ignored in favour of resource extraction. Independence in 1960 inherited this corporatist mindset, much like a boardroom takeover, where the state became a prize for the victorious.

Politicians, echoing colonial overseers, treat public office as personal enterprise. Elections become zero-sum games of winner-takes-all. This mentality creates what might be called vagrant authority – power without purpose, office without vision. Leaders oscillate between inherited military authoritarianism and civilian chaos because they lack authentic governance models rooted in the Nigerian realities. They cannot imagine politics as anything other than warfare between enemies.

Such dynamics silence voices and shrink democratic space. And when opposition is equated with treason, losers retreat into ethnic strongholds, nursing grudges that fuel cycles of unrest and violence. As crackdowns are visited on protesters, dialogue gives way to distrust.

The 1993 annulment of Moshood Abiola’s presidential victory exemplifies this: a moment of potential national consensus shattered by military fiat, deepening divides that persist today. Silencing dissent does not build resilience; it erodes the very foundations of collective progress. History shows that political antagonism diminishes us, but it needs not define us. Perpetual bitterness, evident in the ethnic tensions that boiled over during the 1967-1970 civil war, continues to shadow modern politics. From separatist agitations to the Niger Delta militancy over resource control, to northern banditry and grievances about neglect, these conflicts reveal unaddressed wounds. But enmity is not inevitable, and politics need not be perpetual war.

Chantal Mouffe’s concept of agonistic pluralism offers a compelling alternative framework. She reframes political struggle as a contest between adversaries, not enemies. In her view, democracy thrives when passions are channelled into managed disagreement, preventing apathy or explosive violence. The goal of democratic politics should be transforming enemies into adversaries, treating opponents with respect rather than seeking their destruction.

Imagine politics as a football match, between Enyimba International FC, unarguably Nigeria’s most successful club, and Kano Pillars FC which also commands significant support. Supporters cheer fiercely for their side, yet the game ends with handshakes, not bloodshed. Victory brings joy, defeat prompts reflection, but the sport endures because rules ensure fairness.

Nigerian politics could adopt similar principles. Opposition parties would compete vigorously, not a death match. Media outlets would provide balanced platforms for different viewpoints rather than serving as partisan weapons. Electoral bodies would referee contests impartially. Winners would govern inclusively while losers would critique constructively.

For a multi-ethnic, multi-religious nation like Nigeria, agonism feels tailor-made. Mouffe points out that in diverse societies, consensus is often illusory; instead, we need space for dissensus while maintaining respect. Through vigorous debate and competition, societies test ideas, expose weaknesses, and discover better solutions.

Adapting agonism means practical steps. Constitutional reforms could embed proportional representation, ensuring minority voices influence outcomes, much like Switzerland’s federal cantons balance linguistic divides. Education curricula might emphasise civic dialogue, teaching young Nigerians to view debate as strength, not weakness. And leadership selection could prioritise those who bridge divides, as Ellen Johnson Sirleaf did in Liberia by including former rivals in her cabinet.

The root of our disunity lies not in diversity itself, but in systems that force conformity over accommodation. By embracing conflict as integral to politics, we open doors to authentic unity, one grown organically, not imposed. Antagonism can evolve into agonism, turning perpetual war into productive rivalry.

After sixty-five years of trying to engineer conflict-free politics, perhaps it is time to learn how to manage conflict productively. This Independence Day, let us commit to a politics that uplifts, where winning serves the people, not just the victors.

Sterling Bank has announced the removal of Account Maintenance Fees (AMF) on all personal accounts, marking another bold step in its push for customer-focused banking in Nigeria.

The announcement, made on Independence Day, comes just months after the bank scrapped transfer fees on local online transactions in April. Together, the two decisions position Sterling as one of the most aggressive challengers of long-standing industry practices in the Nigerian banking sector.

In 2024 alone, Nigerian tier-1 banks earned more than ?650 billion from account maintenance and e-banking charges, according to industry data. Sterling’s decision effectively strikes at a key revenue stream for banks, while offering its customers relief from charges that have long been a source of complaint.

‘Every fee we remove is one less barrier between our customers and true financial freedom,’ said Abubakar Suleiman, Managing Director of Sterling Bank. ‘This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees.’ Reinforcing this, Obinna Ukachukwu, Growth Executive for Consumer and Business Banking, said:

‘This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.’

Industry analysts say the move could trigger fresh debate on banking charges in Nigeria, particularly as regulators continue to face pressure from consumer groups to reduce the cost of financial services.

Sterling Bank described the scrapping of AMF as a ‘declaration of financial independence’ for its customers, in line with the symbolism of the October 1st holiday.

With the back-to-back removal of transfer fees and now account maintenance charges, Sterling is consolidating its reputation as one of the most disruptive players in Nigeria’s retail banking landscape.

As the nation celebrates 65 years of independence, Umaru Fintiri, the governor of Adamawa State, has announced the state’s economic turnaround, saying its Internally Generated Revenue (IGR) rose from ?6.2 billion in 2019 to ?16.2 billion in 2025, giving credit to fiscal discipline, digital reforms, and improved transparency.

The governor pointed out that independence becomes tangible when good governance is translated into real development.

Delivering his address, he urged citizens to reflect on the nation’s journey while recommitting to the ideals of justice, unity, and development.

He further reminded citizens that while Nigeria has endured decades of challenges from civil war to dictatorship, poverty, and insecurity the true measure of independence lies not in survival, but in progress.

‘Survival is not success,’ the Governor said. ‘Independence without progress is only a symbol. Real freedom is measured by how it transforms everyday lives.’

He emphasised that in Adamawa State, his administration has sought to translate that belief into tangible action. From educational reforms to healthcare revitalisation, from improved infrastructure to job creation, Fintiri detailed a range of initiatives aimed at improving quality of life for residents across the state.

Fintri announced the ongoing recruitment of 12,000 qualified candidates into the Adamawa State Civil Service, including 5,000 in MDAs, 5,000 in Post-Primary Education, and 2,000 in the Health Sector as part of dividends of democracy. ‘This is not just a job drive it is an investment in efficiency, public service, and the future of our youth,’ he stated.

In a direct appeal to the youth, the governor encouraged them to take ownership of the country’s future, declaring, ‘Your time is not coming your time is here.’ He urged young people to channel their energy into building bridges rather than walls, and to let their actions speak louder than their posts on social media.

Fintiri also underscored the importance of unity, especially in a diverse state like Adamawa, where multiple cultures, languages, and faiths coexist.

‘That diversity must never be our weakness it must be our strength,’ he affirmed. ‘A divided Adamawa like a divided Nigeria cannot stand.’

He called for every Nigerian to contribute to building a nation where ‘no one is left behind and nothing is left untouched,’ affirming that true independence must be seen and felt in the lives of everyday people

Earlier,James Iliya, Commissioner of information in his speech states that with the theme of this year’s independence celebration ‘ All Hands-on Deck for a Greater Nation’, is both a reminder and a call to action.

Iliya further pointed out that building a great nation is not the work of one person or one group but a collective effort, stressing that patience and teamwork solve even the hardest problems.

He also commended the government for ensuring that information flows freely, citizens are heard and development reaches every community, investing in education to prepare youths for the future.

The United States Embassy in Nigeria has reassured Nigerians that visa and passport services will continue to run despite the ongoing partial shutdown of the US government.

In a statement issued on Wednesday via its official X handle, the embassy explained that while its social media accounts would not be updated regularly during the funding lapse, essential consular services remain operational.

‘Due to the lapse in appropriations, this X account will not be updated regularly until full operations resume, except for urgent safety and security information.

At this time, scheduled passport and visa transit services in the United States and at U.S. Embassies and Consulates overseas will continue during the lapse in appropriations as the situation permits,’ the embassy stated. The clarification came after widespread concerns among Nigerians that the shutdown in Washington might disrupt visa processing, affect student travel, and delay other consular services.

The shutdown began after US lawmakers and President Donald Trump failed to reach a compromise on a federal budget deal. At the centre of the dispute is Democratic Party pressure for expanded healthcare funding, which Republicans have resisted. Trump, defending the shutdown, said the deadlock could help him cut back on Democratic-linked programmes.

While the shutdown will not affect critical services such as the military, postal operations, or welfare schemes like Social Security and food stamps, it is expected to place a heavy burden on federal workers.

The Congressional Budget Office estimates that as many as 750,000 federal employees may be sent home daily without pay until a funding agreement is reached.

This marks the first government shutdown since the record-breaking 35-day closure nearly seven years ago, also under Trump’s administration.

Since 1976, when the modern budget process was introduced, the US has experienced 21 shutdowns, most of which were resolved before causing widespread disruptions.

The embassy advised Nigerians to rely on official sources for consular information during the shutdown.

‘Nigerians are encouraged to visit travel.state.gov for the latest updates on visa appointments and passport processing,’ the notice added.

Africa’s venture capital firms (VCs) are increasingly taking the lead in funding rounds, marking a shift to greater local involvement in the continent’s rapidly expanding startup ecosystem.

In October 2024, Moniepoint achieved unicorn status after closing a $110 million Series C from Lagos-based Verod Capital, which joined Google’s Africa Investment Fund and Lightrock as investors.

In recent months, notable deals have highlighted how homegrown investors are backing innovation across fintech, clean energy, e-commerce, and human resource (HR) technology. These transactions underscore how African or Nigerian VCs are moving beyond seed bets to play a more decisive role in scaling startups.

‘While global investors often wait for signals before backing African startups, the real catalyst is local venture capital firms. Local VCs must take the first step, which is not just with mentorship or training, but with actual capital, to show that African startups are viable. Once that confidence is built, global funds will follow,’ said Frank Samuel, investment associate at Sahara Impact Ventures.

He cited the advantage local investors bring, which is their deep understanding of the context, noting that they know the networks, the government touchpoints, and the partnerships that can unlock growth opportunities for startups.

‘Unlike international funds, which add value when startups scale globally, local VCs are the ones that can navigate ministries, state institutions, and technical financing to support innovation on the ground. That’s why the next big funding wave in Nigeria and across Africa will be led by local venture capitalists,’ Samuel stated.

Abiodun Lawal, principal at Heave Ventures said, ‘While foreign investors come with cash and little oversight, local investors have the opportunity to ‘go beyond cash.’

‘Local investors can leverage their strengths such as domain and context awareness, nuances, introductions, policy influencing, and lobbying,’ Lawal said.

He noted that these ‘beyond cash’ activities improve returns as investments are de-risked. ‘The fine balance however is that investors should not get in the way of the entrepreneurs.

‘We believe Africa is not Silicon Valley. Our terrain is called the Tropical Savannah,’ Lawal stated.

Zone, a payment infrastructure startup, closed an $8.5 million seed round in March 2024, co-led by TLcom Capital, one of Africa’s most active early-stage funds. SunFi, a clean energy company, also secured $1 million in early 2025 with backing from Ventures Platform, Delta40, and Kaleo Ventures.

Accrue, a fintech platform, raised $1.58 million, led by Lattice Fund with contributions from other regional backers. The momentum has continued into mid-2025 as Solar energy provider, Arnergy, raised $18 million in a Series B round that included local participation, while construction e-commerce startup CutStruct and HR solutions company PaidHR each secured $2 million seed rounds with Zedcrest Capital among the investors.

Local VCs such as Microtraction and newer players like Future Africa are offering important lessons on how domestic capital can lead, shape, and sustain startup ecosystems.

Microtraction has built its reputation by investing early – often in pre-seed or seed round startups. It has actively provided small but meaningful checks to founders who are just getting started.

A recent example is Microtraction’s Community Fund (first close $15 million), which aims to write first cheques of $100,000 for about 7 percent equity in early-stage African tech companies, with options for follow-ups.

Future Africa describes itself as a ‘founding investor’ with check sizes in the $100,000-500,000 range. They build a community of founders, investors, advisors, corporates, and government partners to support portfolio companies from early on.

The network effect helps founders access more than just capital, but also advisory services, partnerships, institutional support, and so on.

Local VCs often invest in startups solving problems specific to Nigeria or Africa, ranging from fintech, edtech, healthtech, or logistics, rather than only chasing global tech export stories. For Microtraction, its portfolio spans fintech, health tech, SaaS, edtech, crypto, gaming, and mobility across Nigeria, Ghana, Kenya, and Rwanda.

Challenges

The challenges faced by local VCs are lingering structural and market challenges, which include limited pools of domestic institutional capital such as pension funds.

Sovereign wealth funds in Nigeria often have mandates, risk appetites, or regulatory constraints that make early-stage tech investments difficult.

Beyond capital, scaling companies needs legal, HR, compliance, operations, international expansion, and many local VCs are still building those support systems.

Local VCs also face competition from foreign VCs with deeper pockets, global networks, and the ability to write larger cheques.

By writing larger checks and co-leading rounds with global players, homegrown investors are positioning themselves as key drivers of the next wave of African innovation funding.

As Nigeria’s tech ecosystem expands rapidly, local venture capital (VC) firms are increasingly stepping up as key drivers of innovation, capital deployment, and sustainable growth.

Wale Tinubu CON, group chief executive, Oando PLC, has been awarded the prestigious Lifetime Achievement Award at Africa Energy Week (AEW) 2025, in recognition of his unwavering commitment to building Oando into one of Africa’s foremost integrated energy companies.

The award, one of the most coveted accolades at AEW, is presented annually to industry leaders whose careers have demonstrated extraordinary vision, resilience, and a lasting impact on Africa’s energy landscape. Past recipients have included trailblazers such as Benedict Okey Oramah, president of Afreximbank, who received the Mohammed S. Barkindo Lifetime Achievement Award in 2024; Hage Geingob, former president of Namibia, and H.E. Macky Sall, former president of Senegal, awarded in 2023; and Bruno Jean Richard Itoua, minister of Hydrocarbons, Republic of Congo, in 2022.

In conferring the award, the Africa Energy Chamber cited Tinubu’s ‘dedication to advancing Africa’s energy security, his bold leadership in navigating Oando through periods of uncertainty and transformation, and his pivotal role in demonstrating the power of indigenous companies in driving industrial growth and energy sovereignty across the continent.’ Throughout his career, Tinubu has been a steadfast champion of Africa, charting its own destiny by harnessing its abundant resources for the benefit of its people. A firm believer that anyone can achieve greatness with vision, determination, and the right team around them, he has led Oando from its modest beginnings as a local downstream operator into a multinational integrated energy player with a robust portfolio spanning exploration and production, power, and renewables. His leadership has not only positioned Oando as a continental leader but also symbolized African ambition, ingenuity, and resilience.

The Lifetime Achievement Award is widely regarded as a benchmark of excellence at AEW, reserved for leaders whose contributions have left an indelible mark on Africa’s energy sector. It recognises individuals whose sustained, more than decade-long careers embody remarkable achievements and enduring contributions to the oil, gas, and energy industries. Tinubu’s recognition was a fitting and well-deserved tribute to a leader who has consistently inspired others to believe in the promise of Africa and the power of its people.

The naira appreciated significantly in the official foreign exchange (FX) market in September, recording a N50.75 gain against the dollar.

At the close of trading on Tuesday, the naira strengthened to N1,475.34 per dollar, a 3.3 percent gain from N1,526.09/$ at the start of the month, according to data from the Central Bank of Nigeria (CBN).

On a day-to-day basis, the local currency also appreciated slightly by 0.07 percent or N1.00, up from N1,476.34/$ on Monday at the Nigerian Foreign Exchange Market (NFEM), CBN data showed.

In the parallel market, commonly referred to as the black market, the naira gained 3 percent over the month, closing at N1,495 on Tuesday compared to N1,540 at the beginning of September.

Nigeria’s external reserves also rose, reaching $42.32 billion as of September 29, 2025, an increase of 2.17 percent from $41.42 billion at the start of the month.

Bala Moh’d Bello, a member of the Monetary Policy Committee (MPC), stated that the naira’s relative stability reflects the impact of tighter liquidity, growing investor confidence, and recent reforms in FX management. He added that speculative activity in the FX market has declined significantly, enhancing transparency and supporting market-based price discovery. According to him, this stability is expected to continue in the medium term, underpinned by rising reserves, which stood at $40.11 billion as of July 18, 2025, enough to cover about 9.5 months of imports.

Another MPC member, Aloysius Uche Ordu, said the naira’s appreciation and the narrowing gap between official and Bureau de Change (BDC) rates highlight improved FX liquidity. He credited strong remittances and foreign portfolio inflows for the boost in reserves, also noted at $40.11 billion in July.

The CBN’s latest quarterly economic report showed total FX inflows rose by 4 percent quarter-on-quarter (q/q) and 26 percent year-on-year (y/y) to $29 billion in Q1 2025. This continues a trend seen since Q4 2023, mainly driven by the CBN’s tight monetary stance.

However, FX outflows climbed at a faster pace, rising 14 percent q/q and 33 percent y/y to $13.8 billion, marking the highest quarterly outflow since Q2 2020. As a result, net FX flows stood at $15.2 billion in Q1 2025, slightly down from $15.8 billion in Q4 2024.

Analysts at FBNQuest noted that robust FX inflows in Q1 2025 were primarily fueled by autonomous sources, which surged to $20.7 billion from $16.3 billion in Q4 2024, the highest since the COVID-19 pandemic, though still below the $27.5 billion recorded in Q1 2020.

They attributed the increase to higher market interest rates that spurred carry trade flows, along with CBN’s FX reforms that improved transparency and price discovery. Although the CBN does not disclose a detailed breakdown, FMDQ data used as a proxy showed foreign portfolio investment (FPI) inflows rose 40 percent q/q and 101 percent y/y to $4.9 billion.

Men from various sectors have stepped forward to take an active role in the fight against gender-based violence, as the Male Feminist Nigeria (MFN) Project was launched in Pankshin, Plateau State, on Tuesday.

The event, organised by the Kozaki Transformation and Development Foundation, brought together stakeholders including traditional rulers, religious leaders, transport union executives, barbers, and other key actors united in the mission of promoting male engagement in ending gender-based violence.

The stakeholders’ engagement meeting, which marks the advancement of the MFN Project across North Central Nigeria, focused on engaging men as allies in promoting gender justice and challenging harmful societal norms.

In his address, Akighir Caleb Akighir, Communication Officer of the MFN Project, emphasised the need to confront entrenched patriarchal ideologies.

He warned that negative masculinity is damaging not only to women and girls but also to men, who are often confined by unrealistic and harmful gender expectations. Expanding on this, Manfred Akpen, Program Officer of the MFN Project, delivered a keynote presentation titled ‘Becoming a Male Ally: From Conviction to Consistency.’ He called on men to go beyond symbolic gestures and instead demonstrate consistent action in advancing gender equity within their communities.

The participants embraced the message, expressing readiness to become ambassadors of male feminism in their communities. Representatives from transport unions, barbers, local academic institutions, religious and traditional councils, and community-based groups pledged to actively promote positive masculinity and help dismantle violence-supportive norms.

Kashim Basil, a Catholic priest and the Coordinator of JDPC Caritas, welcomed participants on behalf of Isaiah Ter, also a Catholic priest and a lawyer who is the Executive Director of the Kozaki Foundation, while prayers were offered by Fr. Gogwim to open the session.

The engagement marks a significant milestone for the MFN Project in Plateau State, North Central Nigeria and sets the tone for further expansion across the region. As the initiative gains ground, Pankshin now serves as a critical hub in a growing movement for male-led advocacy against gender-based violence.

Civil society organisations, opposition party figures, and economic experts have applauded President Bola Ahmed Tinubu’s administration for the Lagos-Calabar Coastal Highway project, describing it as a landmark initiative that could transform Nigeria’s infrastructure and boost economic growth. The commendations came during a project inspection tour in Lagos, led by the Minister of Works, Senator David Umahi, where stakeholders noted the quality of execution and urged Nigerians to rise above political divides in supporting developmental projects.

Umahi disclosed that the first section of the 750-kilometre coastal highway stretching from Ahmadu Bello Way, Victoria Island, Lagos, to Eleko, Lagos would be completed by May 2026. He revealed that 35 kilometres had already been completed, leaving 12 kilometres to finish the initial segment. According to him, the first section covers 47 kilometres of the coastal highway, and work has also commenced on the second section from Eleko, Lagos, to Ode-Omi, Ogun State. He highlighted the government’s efforts in saving properties such as the Landmark Centre, clearing refuse up to a depth of 10 metres, and using concrete technology to ensure road durability. ‘Emerging economies like India have adopted concrete for enduring roads, and Nigeria must follow suit,’ he added.

Otunba Segun Showunmi, a chieftain of the Peoples Democratic Party (PDP) and convener of The Alternative, stressed the need for national consensus around development. ‘You cannot develop a nation without a long-term plan. What I have seen so far today is commendable, I must tell you. Beyond our political ideological differences, we need to, as a nation, breathe in and out to explore how to achieve consensus to develop our nation,’ he said. Showunmi pointed to global examples: ‘When you look at countries like Singapore, India, and UAE, their achievements have come through building consensus for national development. A nation at 65 must be in a hurry to link its infrastructure to model after other globally competitive economies.’ He urged Nigerians to have ‘the courage to build the kind of things that will position it as a country to turn the corner and go full throttle in investing in legacy infrastructure projects that will transform the economy.’

Olufemi Awoyemi, Chairman of Proshare Group, described the Lagos Calabar Coastal Highway as a ‘test case’ for financing large infrastructure projects. ‘This is an alternative, providing a primary route for cross-country connectivity, away from the current congestion, and a test case for big infrastructure projects and their financing,’ Awoyemi said. According to him, the project has the potential to open up trade routes and provide long-term relief to Nigeria’s congested transport systems, while stimulating investment in adjoining communities.

Leaders of over 20 civil society organisations (CSOs) were also part of the tour. Declan Ihekaire, one of the CSO representatives, welcomed the government’s decision to involve stakeholders in monitoring the project. ‘We, as CSOs, must not condemn every time. When we see where they are getting it right, we should talk so that we encourage them. Ultimately, the beneficiaries of good initiatives are the people,’ he said, adding that constant engagement between government and citizens would boost accountability and help sustain public confidence in national projects. Umahi also responded to concerns about properties and investments allegedly affected by the highway construction. He assured the public that due process would be followed. ‘We will unravel the issues around the WinHomes and allegations of about $200 million of diaspora investments in the real estate project. We will involve the EFCC and DSS to investigate the matter alongside civil society organisations,’ he stated. The Minister promised regular briefings with the media and stakeholders to provide progress reports and maintain transparency.

Beyond the Lagos Calabar Coastal Highway, Umahi outlined three other ‘legacy projects’ under Tinubu’s administration: the 477-kilometre Trans-Saharan Highway traversing Calabar, Ebonyi, Kogi, Benue, Nasarawa, and the FCT; the 422-kilometre Akwanga-Jos-Bauchi-Gombe Expressway; and the 1,068-kilometre Sokoto-Badagry Superhighway. ‘We will continue to reiterate that roads and bridges are the infrastructure that build the GDP of every nation. And it is from this that the GDP of other sectors will grow,’ Umahi said. He linked Tinubu’s vision for the coastal highway to his record as Lagos governor. ‘President Bola Ahmed Tinubu has this knowledge; he has demonstrated it when he was Governor of Lagos State and you can see that Lagos State is an economy within an economy. That is why we are doing everything possible to develop infrastructure according to his vision and mission.’

Stakeholders at the inspection agreed that Nigeria’s infrastructure challenges required collective action, not political rivalry. ‘Consensus is the key,’ Showunmi reiterated. ‘If we must compete with global economies, we cannot afford to politicise every national initiative. Nigerians must support projects that promise to unlock growth and prosperity.’

The Lagos Calabar Coastal Highway, projected at 750 kilometres, is expected to be one of the most ambitious road projects in Africa. With sections already underway and a completion date for the first stretch set for 2026, stakeholders believe the project could redefine Nigeria’s transport network and unlock significant economic opportunities. For now, the project has managed to attract rare bipartisan praise, suggesting that infrastructure may be the bridge for consensus in a divided political landscape.