Category: Business Day

France’s Prime Minister, Sébastien Lecornu, has resigned, just hours after unveiling his new cabinet.

The resignation was confirmed on Monday by the Elysée Palace following a one-hour meeting between Lecornu and President Emmanuel Macron.

Lecornu, who emerged less than a month ago to replace François Bayrou, stepped down amid criticism over the composition of his cabinet.

Several parties in the National Assembly opposed the cabinet, saying it was mostly the same as Bayrou’s, and threatened to reject it.

Umo Eno, governor of Akwa Ibom, has signalled his government’s intention to partner with T2 to accelerate digital technology growth and innovation across the state.

He made this announcement at the opening ceremony of the Ibom Ignite Conference 2025, a youth-focused leadership and entrepreneurship gathering designed to equip participants with tools, networks, and insights to transform ideas into impact.

Akwa Ibom State is positioning itself as Nigeria’s next digital innovation hub as the state governor announced a partnership with T2 to accelerate the state’s technology and digital growth agenda.

Governor Eno’s announcement followed a keynote by Obafemi Banigbe, chief executive officer of T2, who outlined a bold vision for Akwa Ibom as a future leader in software development, artificial intelligence, and startup innovation.

‘Akwa Ibom is not just poised to birth the next big thing like Flutterwave or Paystack; it has the potential to emerge as a genuine digital goldmine for this region,’ Obafemi Banigbe, CEO of T2, stated.

Banigbe emphasised that achieving this vision requires prioritising investment in people and education. ‘The future is not built on oil. It is built on education, human capital, and digital skills. If we fail to develop the next generation, we risk wasting the immense talent of our youth.’

‘We are back in business. T2 is repositioning as a digital business and lifestyle partner – youth-friendly, tech-friendly, startup-friendly, and committed to enabling innovation and the creative economy,’ Banigbe added. ‘We are ready to work hand-in-hand with His Excellency to make Akwa Ibom the South-South’s digital powerhouse.’

Leadway, one of Nigeria’s foremost non-banking financial services and wellbeing providers, is celebrating 55 years of innovation, resilience, and inclusive impact across West Africa. From its inception in 1970 as an insurance company, Leadway has evolved into a diversified group championing financial access, inclusion, and wellbeing for individuals and businesses across the region.

Today, Leadway’s integrated offerings span life and general insurance, health coverage, pensions, asset and wealth management, estate planning, hospitality and credit solutions, empowering millions to build resilient financial futures. ‘Leadway’s journey is, in many ways, the story of Nigeria itself-one of resilience, diversity, and progress,’ said Tunde Hassan-Odukale, group managing director of Leadway Holdings. ‘We began with the mission of providing succour and financial freedom to individuals and businesses through risk management.

Over the years, that mission has expanded into building a holistic ecosystem that now encompasses insurance, pensions, health, investments, trusteeship and hospitality. This milestone is both a testament to the trust we have earned and the excellence we continue to uphold.’ Leadway has built its reputation as Nigeria’s most consistent claims-paying insurer, disbursing nearly N500 billion in claims between 2016 and 2024, including N117 billion in 2024 alone.

Through its HMO subsidiary, the group continues to deliver award-winning healthcare services to millions of Nigerians through a network of more than 2,500 hospital providers nationwide while continuously increasing robust financial portfolios and securing the future of many Nigerians through its Pensions and Asset Management subsidiaries.

Beyond Nigeria, Leadway has expanded its regional footprint into Côte d’Ivoire, strengthening its leadership in Francophone West Africa through Leadway Assurance, Ankara Services and Leadway IARD. The Group’s legacy also extends to impactful social initiatives.

Leadway Media Dash provides young entrepreneurs and SMEs with visibility by showcasing their businesses on Leadway-owned platforms. Its long-standing support for the Lagos International Trade Fair underlines its commitment to commerce and enterprise in the sub-region. Leadway also invests in Nigeria’s creative economy, sponsoring the Lagos Leather Fair, supporting the Nigerian Pavilion at the London Design Biennale, and championing emerging talent through the +234 Art Fair and Creative Bloc Carnival. Recognising the power of youth, Leadway engages with the next generation through LeadForward, a financial literacy and wellness programme for NYSC members, and Campus Connect, a university initiative promoting learning, entrepreneurship, and wellbeing. It also champions women’s empowerment through Hersurred, a platform launched in 2024 that offers mentorship, skills workshops, and networking opportunities, including an annual International Women’s Day event.

As Leadway marks its 55th anniversary, it reflects on a journey marked by impact, resilience, and trust while restating its goal to create creative and inclusive financial, health, and wellness ecosystems for its clients. ‘We are committed to creating the next chapter of Africa’s financial services wellbeing powerhouse, offering digital-first solutions that are unparalleled, people-focused, and competitive on a global scale, with our past guiding us and shaping the future ahead,’ Tunde Hassan-Odukale reaffirmed.

The Independent National Electoral Commission (INEC) has hosted a joint delegation from the National Election Board of Ethiopia (NEBE) and the Coalition of Ethiopian Civil Society Organisations for Elections (CECOE) as part of an experience-sharing visit aimed at strengthening democratic governance and institutional collaboration between Nigeria and Ethiopia.

Welcoming the delegation in Abuja on Monday, Mahmood Yakubu, INEC chairman said the visit marked a milestone in inter-African cooperation on electoral management, noting that both Nigeria and Ethiopia share many similarities – from diverse populations to federal governance structures.

‘Our two countries are multi-ethnic, multi-religious, and federal in nature. In terms of population, Nigeria and Ethiopia together account for a quarter of Africa’s population,’ he stated.

‘In election management, both NEBE and INEC share similar constitutional responsibilities – from conducting elections to voter education and the regulation of political parties.’

Yakubu explained that the week-long visit would feature nine technical sessions covering strategic election planning, technology deployment in voter registration, inclusivity for displaced persons, stakeholder engagement, and the role of media and civil society in elections.

He added that the Ethiopian delegation would also observe Nigeria’s ongoing voter registration exercise in the Federal Capital Territory ahead of the 2026 Area Council elections, describing it as an opportunity for ‘real-life observation and interaction with officials and stakeholders.’

The INEC chairman also acknowledged the German Agency for International Development (GIZ) for facilitating the engagement, adding that two GIZ officials joined the Ethiopian team.

In his remarks, Tesfaye Neway, deputy chairman of NEBE, commended INEC’s leadership for its openness and innovation in election management, particularly in the use of technology, stakeholder engagement, and civic education.

‘Under your leadership, Nigeria’s INEC has become one of Africa’s most respected electoral institutions,’ he said. ‘We are eager to learn from your innovations and experiences as we continue to modernize our own systems.’

Neway noted that both countries face common challenges such as misinformation, electoral violence, and voter apathy, adding that sustained cooperation and peer learning were vital to deepening democracy across Africa.

Also speaking, Abera Hailemariam, executive director of CECOE, said the visit would help Ethiopian civil society organizations draw lessons from Nigeria’s experience in voter education, election monitoring, and civic participation, especially in multilingual and diverse contexts.

‘We are a young organization established in 2018, and we have drawn a lot of inspiration from African institutions like INEC,’ he said. ‘This visit will guide how we strengthen our engagement, especially in adopting technology and enhancing election observation.’

Hailemariam emphasized CECOE’s interest in understanding how Nigerian civil society groups collaborate with electoral authorities, noting that such partnerships are essential for credible and peaceful elections.

The visit, supported by the United Nations and GIZ, is expected to foster deeper institutional linkages between INEC and NEBE, promoting knowledge exchange, democratic resilience, and regional cooperation in election management across Africa.

Keystone Bank Limited has unveiled its year-end nationwide promo that will reward its loyal customers with weekly cash prizes running into several millions of naira.

The campaign, themed ‘Mega Milli Giveaway,’ was unveiled during a press conference held at the bank’s headquarters in Lagos on Monday.

The lender disclosed that the promo will run from October 1 to December 31, 2025.

Speaking at the launch, Olayemi Sule, group head, Retail and Digital Banking, Keystone Bank, said the Mega Milli Giveaway was introduced as a strategic initiative to deepen customer engagement and promote financial inclusion.

According to her, ‘With the growing shift toward cashless transactions and digital financial services in Nigeria, this campaign is designed to encourage customers to embrace more convenient, secure, and technology-driven banking solutions.

‘It also aligns with our broader goals of promoting financial inclusion, rewarding loyalty, and supporting the Central Bank’s drive toward a more digitally inclusive economy.

‘By linking participation to simple account opening, savings, and use of our digital platforms, we are bringing more people into the formal banking system. This is a practical way of driving inclusion in underserved communities.

‘The Mega Milli Giveaway is not just a promotion, it is a strategic tool that empowers and rewards customers while positioning Keystone Bank as a trusted partner in their financial journey.

‘Through initiatives like Save and Win, we also promote saving habits and foster long-term financial well-being,’ she said.

Rukayat Olatunji, unit head, Mobile and Internet Banking, Keystone Bank, noted that all customers with savings accounts are eligible to participate in the Mega Milli Giveaway.

‘For existing customers, simply carry out as many transactions as possible through our digital channels – the KeyMobile app, USSD *7111#, or with any of our cards – to qualify for the Transfer and Win category.

‘Alternatively, save at least ?10,000 monthly to stand a chance to win in the Save and Win category.

‘New customers can also participate by downloading the KeyMobile app from the Google Play or Apple Store to open an account, perform transactions via the bank’s digital platforms, or save N10,000 monthly during the campaign period.

‘Customers can qualify by conducting transactions such as fund transfers, airtime and data purchases, bill payments, POS transactions, and web payments,’ Olatunji explained.

Speaking on the prizes and rewards, Tina Ebuehi, department head, Retail Products and Value Chain Management, Keystone Bank, announced that all prizes in the promo will be awarded in cash.

‘Mega Win: A top customer will receive ?1,000,000 at the end of the Transact and Win segment after the sixth week.

‘Four lucky customers will win a total of ?4,000,000 – one winner each in October and November, and two winners in December.

‘For the Save and Win category: Monthly Draw: Five winners will receive ?100,000 each month.

‘For the Transact and Win category: Tier 1: Top 10 customers with the highest number of qualifying transactions will each win ?100,000 weekly.

‘Tier 2: The next 80 customers will each receive ?20,000 weekly,’ she noted.

Keystone Bank is a technology and service-driven commercial bank offering customer-centric banking, convenient and reliable solutions to every customer’s needs.

The Lagos State Electricity Regulatory Commission (LASERC) has officially granted power distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking a major milestone in the state’s journey toward an independent and competitive electricity market.

With this development, Eko Electricity Distribution Plc and Ikeja Electric Plc have ceased to exist as licensed distributors within the Lagos Electricity Market.

The newly licensed firms, Excel Distribution Company Limited and IE Energy Lagos Limited, now hold the legal authority to manage power distribution operations in the state.

At the event, Folake Soetan signed on behalf of IE Energy Lagos Limited, while Sheri Adegbenro signed on behalf of Excel Distribution Company Limited.

Speaking at the ceremony, Abimbola Odubiyi, LASERC Chairman, described the move as ‘a defining moment in Lagos’ journey towards a reliable and sustainable electricity market.’

‘The Commission will continue to uphold the principles of independence, transparency, and service to the people of Lagos,’ Odubiyi said.

Fouad Animashaun, LASERC’s Chief Executive Officer, highlighted that the issuance of the licences reaffirms the state’s commitment to private sector participation and competitive electricity delivery.

‘By expanding competition, we are ensuring that Lagosians can look forward to better access, improved reliability, and affordable electricity supply,’ Animashaun said.

In their remarks, representatives of the new licensees pledged to deliver improved service quality and operational efficiency.

Kola Adeshina, representing IE Energy Lagos Limited, said, ‘We are honoured to be part of this transformative journey. Our focus will be on deploying innovative solutions that deliver value to customers across Lagos.’

Sheri Adegbenro, speaking for Excel Distribution Company Limited, added, ‘This licence is both a privilege and a responsibility. We are committed to strengthening power distribution and ensuring that customers experience real improvements in service.’

LASERC noted that this transition aligns with the Lagos State Electricity Policy, which seeks to ensure reliable, affordable, and equitable access to power for all residents through transparent regulation and increased private sector participation.

Simpa Afadama has facilitated the visit of a delegation of international investors, mostly from Europe, to some Edo State Government Agencies and agricultural organizations.

The visit covered key institutions such as EdoJobs, the Edo State Migration Agency, the Nigeria-Agro Multipurpose Cooperative Society (NAMCS), and the All Farmers Association of Nigeria (AFAN).

Chime Chukwuma Tony, Chairman of China-Africa Investment Group and United Nations Ambassador, expressed strong interest in investing in critical sectors, including agriculture, skills development, migration, and energy.

They were warmly received at the Edo State Government House, where presentations were made on potential areas of partnership and collaboration.

Simpa emphasised that their collective goal was to support the economic growth of Edo State and ensure that Africa begin to experience sustainable development through modern innovations, infrastructure expansion and strategic investments.

Special recognition was given to Lady Astrid Arens of the Voice Aid Association, Germany who provided valuable information and insights about the investor companies and the sectors represented.

Her interactive and engaging presentation greatly enriched the session and enhanced collaboration discussions.

But, Richard George, Team Leader of the European investors, said, ‘We believe Edo State has great potential for growth. Our mission is to build long-term partnerships that will foster innovation, infrastructure, and economic empowerment across Africa.’

Millions of Nigerians are registering to vote at a pace that surpasses the last electoral cycle, according to data from the Independent National Electoral Commission (INEC).

Although this development has been widely applauded, it is prompting cautious optimism about what it could mean for political participation ahead of the 2027 elections.

Over 4.4 million Nigerians have registered in just four weeks of the ongoing nationwide Continuous Voter Registration (CVR), which is nearly one-third of the total new registrations recorded during the entire lead-up to the 2023 elections.

Out of that number, young people between the ages of 18 and 34 account for about 2.92 million, while students represent a quarter at 1.11 million.

Political experts say if the registration momentum is sustained, the country could deliver the largest voter roll in a single cycle.

Chinedu Obi, a political analyst and director-general of the Inter-Party Advisory Council, believes the surge could be driven by unfavorable conditions due to difficult government policies and the desire for change.

‘I believe that anyone who has been in this country in the last two years with the difficulty we’ve faced would quickly want to get registered to effectively participate in deciding who governs the country, knowing that the action or inaction of any elected government can translate into our prosperity or otherwise,’ he said.

Obi said Nigeria could register well over 30 million more new voters. urging the government and all relevant stakeholders to invest in voter education.

‘I think there’s a need for us to do more voter education, to encourage people to know the need to participate in the election.’

For Innocent Okechukwu, a political observer, the numbers shows a strong early signals of a potentially highly competitive electoral environment. According to him, the surge could point to young and energised electorate, preparing to push harder for change than in 2023. He said it also raises the stakes for INEC to deliver credible polls.

‘Youth-driven movements, like what was seen in the #EndSARS era or the ‘Obidient’ wave in 2023, could re-emerge with greater scale and organisation. For the ruling All Progressives Congress (APC), which faces mounting criticism over economic hardship, the surge poses both opportunities and risks,’ he said.

Armsfree Ajanaku, executive director of the Grassroots Centre for Rights and Civic Orientation, described the trend as a good development.

‘The millions that have turned out is an indication that the Nigerian people still believe that democracy is the preferred vehicle for the realisation of their national aspirations,’ he said.

The youth-led surge brings back memories of the 2023 elections, when young people rallied around the Obidient Movement led by Peter Obi. That wave was driven by anger over poor governance, corruption, and insecurity, especially among urban youth. Even though Obi did not win, his campaign changed the political conversation and showed that Nigeria’s youth could shape national outcomes.

Before that, the #EndSARS protests of 2020, led by young Nigerians against police brutality, had already revealed the power of youth mobilisation. Although the protests were crushed, they created a generation of politically-aware citizens who now seem determined to turn activism into votes.

Regional disparities

INEC data show that regional disparities are emerging in the early phase of the exercise. The South-West is leading in new registrations, while the South-East trails far behind.

Osun State recorded the highest number nationwide with 552,045 registrations, followed by Lagos with 488,523. The least are Ebonyi, Abia, and Enugu, with 4,024, 3,532, and 1,839 registrations, respectively.

According to Okechukwu, the South-East figures raise questions about voter confidence, security concerns, or disillusionment with electoral institutions following the 2023 experience. He cautioned that the low numbers could further marginalise the region politically unless parties and civil groups step up mobilisation.

He added that the early lead in the South-West could consolidate its influence in determining the 2027 outcome.

For Obi, the low figure in the southeast could be a loss of faith in the system. ‘In the last election, many Nigerians believed that the outcome of that election wasn’t exactly consistent with their expectations, particularly in the presidential election, where many felt that the person they voted for didn’t win. You know that the South-East voted massively for a particular candidate in that election. Maybe there could be an apathy for registration, which is a function of those who feel that their votes don’t count,’ he said.

On the figures in the South-West, Ajanaku said local political projections have been driving registration turnout.

‘In Osun State, for instance, there will be an off-cycle governorship poll in 2026. So, it is clear local political actors are driving the registration process, which is a good thing.

‘Other regions lagging behind should also mobilise the people to go register. In all, political actors should engage the process and stop all forms of disinformation targeted at undermining the electoral process,’ he urged.

‘Tribune’ newspaper, June 17, 2025. Front page Headline: ISRAELI-IRAN WAR: NIGERIA MAY WITNESS PETROLEUM PRICE SURGE – CPPE warns’ (from Akin Adewakun, Lagos).

‘The Centre for the Promotion of Private Enterprise (CPPE) has warned that if not quickly addressed, the ongoing Israeli-Iran war may lead to a surge in the price of petroleum, diesel, jet fuel, gas and related products in Nigeria.

The Centre, in a statement issued by its Chief Executive Officer, Dr Muda Yusuf, stated that the development would also have far-reaching implications for a floundering global economy.

It argued that since energy cost remains a major factor in the Nigerian inflation equation, the war, it stated, may impact production cost, logistics cost, transportation costs, and the cost of power generation.

‘This presents an inflationary scenario. These additional costs would be passed on to final consumers, depending on the degree of consumer resistance.

There is also a global inflation dimension. Energy prices have global inflationary implications. Therefore, there is also an expectation of imported inflation in the unfolding geopolitical scenario,’ the Centre argued.

CPPE noted that since high inflation drives interest rates, as monetary authorities respond to the inflation outcomes of current geopolitical headwinds, a tighter monetary policy regime is expected in Nigeria and other monetary jurisdictions.

It warned that economies around the world may experience renewed pressure on interest rates, with higher global interest rates likely to impact portfolio flows and their implications for foreign reserves.

‘High energy costs, elevated inflationary pressures and a spike in interest rates are all headwinds that could undermine the profitability of businesses in the economy. Investors in the non-oil sector are likely to be more vulnerable in the present situation.

Nigerian firms with strong business links in the Middle East and those with strong supply chain linkages in the region would be vulnerable at this time because of the current instability in the region,’ the Centre added.

CPPE, however, believed the nation’s economy could also profit from the crisis, since the surge in crude oil price would impact on foreign exchange earnings, with its trickle-down positive effects on the nation’s economy, since oil remains the biggest forex earner for the country.

‘It warned that economies around the world may experience renewed pressure on interest rates, with higher global interest rates likely to impact portfolio flows and their implications for foreign reserves.’

‘Crude oil price has surged to $75 per barrel, which is about 15 percent higher than before the outbreak of the Israeli-Iran conflict. This development would also positively impact the country’s foreign reserves, ensure better forex liquidity and ultimately the stability of the naira exchange rate,’ it argued.

‘Tribune’ newspaper of June 17, 2025. Front page headline: ‘WHY OIL COMPANIES ARE LEAVING NIGERIA – PENGASSAN URGES FG TO ACT SWIFTLY DESPITE COST REDUCTION INCENTIVES’ (from Christian Appolos, Lagos)

‘The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised the alarm that worsening insecurity in Nigeria’s oil-producing areas, especially in the waterways, is compelling multinational oil companies to divest from the country, despite newly introduced cost-saving incentives by the Federal Government.

Speaking at a press briefing in Abuja, PENGASSAN President Comrade Festus Osifo said that while the recently signed Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) by President Bola Tinubu was commendable, it fails to address the root causes of the high cost of production, which he said is, most notably, insecurity.

‘The reason, the chief reason, the majority of the oil and gas operators (the international oil and gas companies) started leaving Nigeria is principally because of insecurity,’ Osifo declared. ‘The cost of securing facilities and the cost of securing infrastructure in the Nigerian oil and gas industry became prohibitive. That is why they found places like Mozambique, Guyana, Angola, and Congo much more attractive.’

The Executive Order, signed in May, introduces performance-based tax credits of up to 20 percent for upstream companies that meet defined industry benchmarks for cost efficiency. While PENGASSAN acknowledged the effort, Osifo insisted that without government-backed security, the real issue would remain unresolved.

‘For one offshore installation, you have a minimum of three or four security vessels, manned by naval personnel, paid for by the company daily. That’s not the case in countries like Ghana, where the government provides this protection.’

He urged the government to take full responsibility for safeguarding oil installations, emphasising that oil companies should not bear such heavy security costs, which he described as ‘running into hundreds of millions of dollars per annum.’

Beyond insecurity, PENGASSAN also raised concerns over fuel pricing transparency. According to Osifo, despite significant reductions in global crude oil prices from $80 to around $60 per barrel, Nigerians did not enjoy a proportionate drop in petrol pump prices.

‘When crude was at $60 per barrel, we should have been buying petrol at N700 to N750 per litre, not N900. Nigerians were exploited during that period,’ he said, calling on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ‘do everything possible to ensure Nigerians are not exploited.’

PENGASSAN further recommended that the Federal Government adopt the NLNG partnership model for the country’s ailing refineries, particularly the Port Harcourt refinery, which was recently shut for maintenance. The model would see the government hold minority stakes while allowing experienced private investors-particularly international oil firms-to take majority control.

‘This model has worked for NLNG. So, why can’t we replicate the same structure in the management of our refineries to eliminate political interference and promote efficiency?’ Osifo queried.

The World Bank Group has called on the Nigerian government to intensify efforts to bring down the inflation rate, in order for citizens to enjoy the benefits of reforms so far introduced.

According to the National Bureau of Statistics, Nigeria’s annual inflation rate eased to 20.12 per cent in August, a decline from 21.88 per cent recorded in July 2025.

However, speaking at the 31st Nigerian Economic Summit (NES31) in Abuja, Mathew Verghis, the World Bank Country Director for Nigeria, said that Nigeria requires decisive policies to bring down inflation and interest rates to make the impacts of recent reforms felt by citizens, stimulate job creation and private investment.

Verghis, who commended the government’s reform strides over the past two years, described them as crucial steps that have repositioned the country for long-term growth.

‘The first priority is to bring inflation down so that people can start feeling the benefits of these reforms to a greater extent. This will also help reduce interest rates, which are critical for businesses to perform better. Once that is achieved, Nigeria can focus on actions that promote job creation, investments in people, and infrastructure,’ Verghis said.

He revealed that the World Bank’s upcoming Nigeria Economic Update, to be presented later in the week, would address these priorities in detail. According to him, the Bank is shifting its focus from growth alone to job-centred development, emphasising the need for strategic support to labour-intensive sectors such as agribusiness.

‘If you care about job creation, then you must identify the sectors that will create jobs and strategically support them. Agribusiness in Nigeria comes to mind very easily, but we must move beyond subsidies to policies that enhance competitiveness,’ he added.

Also speaking, Boye Olusanya, Group Managing Director/CEO of Flour Mills of Nigeria Plc, stressed that Nigeria’s industrialisation ambitions cannot succeed without addressing the twin challenges of infrastructure and power.

He warned that high production costs, bureaucratic bottlenecks, and weak export quality controls continue to undermine the competitiveness of Nigerian manufacturers.

‘Our cost to produce is too high compared to anywhere else in the world. Without fixing infrastructure and power, we cannot be competitive. We also need to streamline customs processes, enforce quality standards for exports, and strengthen institutions like the Bank of Industry (BOI) to mobilise more long-term capital,’ Olusanya said.

He called for practical and consistent policies that attract private investment into key sectors, urging government agencies to provide seed funding and an enabling environment for investors.

‘Private capital continues to look for investments that give long-term returns. The government needs to align with that horizon and provide stability,’ he said.

On his part, Gautier Mignot, Head of the European Union Delegation to Nigeria and ECOWAS, reaffirmed the EU’s commitment to supporting Nigeria’s trade competitiveness, regional integration, and investment attraction.

He outlined ongoing EU initiatives such as a pound 200 million package for African market access and the Global Gateway Strategy, which mobilises investments in renewable energy, green economy, agriculture, and connectivity infrastructure, including the rollout of 90,000 kilometres of optic fibre across Nigeria.

‘We believe Nigeria has enormous untapped potential. Our partnership focuses on leveraging private investment, improving trade infrastructure, and harmonising standards to make the economy more competitive,’ he said

The EU envoy also encouraged Nigeria to sustain reform momentum through ‘big-bang’ policy actions that would reinforce investor confidence and accelerate integration into global value chains.

‘You need harmonisation or mutual recognition of rules and standards, you need strengthening of institutions, and finally, you need trade infrastructure and corridors,’

The 31st Nigerian Economic Summit, organised by the Nigerian Economic Summit Group (NESG) in partnership with the Federal Government, brought together policymakers, international partners, and private sector leaders to discuss strategies for achieving inclusive and sustainable growth under the theme ‘Pathways for Economic Transformation and Shared Prosperity.’