Category: Business Day

Nigeria’s states and the Federal Capital Territory generated a record N5.15 trillion in internally generated revenue in 2025, buoyed by stronger tax collections which accounted for nearly three-quarters of total IGR.

The 36 states and the Federal Capital Territory (FCT) generated a combined N5.15 trillion in Internally Generated Revenue (IGR) in 2025, representing a 40.93 percent increase from the N3.65 trillion recorded in 2024, according to the National Bureau of Statistics (NBS).

Lagos, Rivers and Enugu recorded the highest IGR during the period, generating N1.77 trillion, N428.42 billion and N406.77 billion respectively, the NBS said in its 2025 Internally Generated Revenue report.

Yobe, Ebonyi and Sokoto recorded the lowest revenues at N16.01 billion, N17.18 billion and N20.48 billion respectively.

The report said tax revenue and revenue generated by Ministries, Departments and Agencies (MDAs) constituted the two broad categories of IGR recorded by the states and FCT.

PAYE was the largest source of tax revenue, generating N2.64 trillion and accounting for 69.51 percent of total tax revenue collected during the year.

Capital gains tax was the least contributor at N12.40 billion, while tax revenue accounted for 73.64 percent of total IGR nationally.

The NBS report covers revenues generated by the 36 states and FCT, including PAYE, direct assessment, road taxes, stamp duties, capital gains tax, withholding taxes, other taxes and local government revenues.

It also covers revenue generated administratively by state Ministries, Departments and Agencies while providing various public services.

According to the NBS, the 40.93 percent increase in aggregate IGR from 2024 reflects higher internally generated revenue collections across the states, although the data shows significant disparities in revenue-generating capacity among the subnational governments.

Department of State has created a public reporting portal to submit tips on suspected immigration abuses through business, tourism, student, immigration visa and other visa categories.

The enforcement is managed by the Bureau of Consular Affairs, and aims to curb organized networks that facilitate unlawful entry through falsified travel itineraries, deceptive employment contracts, and brokered marriages intended strictly for legal status.

Tommy Pigott, State Department spokesperson reiterated the regulatory framework governing foreign travel to the nation.

: US imposes new visa restrictions on birth tourism

‘A US visa is a privilege, not a right,’ Pigott said. ‘State Department is launching a dedicated portal where you can report visa fraud and misuse. Help protect our national interests and crack down on visa abuse.’

Under the newly implemented regulations, penalties for verified violations include immediate visa revocations, permanent inadmissibility, and criminal referrals to law enforcement authorities.

Additionally, the State Department warned applicants against third-party intermediaries claiming guaranteed visa approvals, advising prospective travelers to rely on official government channels.

Form details

On the form, the individual can select the type of fraud being reported, name of the suspect, age, address, social media links, description of fraud, the individuals named and details, and others, while ensuring they do not provide false information.

The form also enables individuals report entities such as companies, schools, law firms, and others, that are suspected of committing visa fraud or misuse.

New visa policy restriction, public online profile review

Marco Rubio, US secretary of state, highlighted the administration’s policy stance against commercial immigration exploitation especially through birth tourism.

‘Foreign commercial birth tourism networks have exploited the US immigration system to sell US citizenship for profit,’ he stated.

‘Today, I am announcing a new visa restriction policy under Section 212(a)(3)(C) of the Immigration and Nationality Act. This policy targets individuals who knowingly engage in, have engaged in, or facilitate birth tourism to the United States.’

The launch of the portal also coincides with broader systemic vetting, including mandatory reviews of public online profiles for specific non-immigrant visa categories.

The updated portal streamlines this process, enabling law enforcement officials to rapidly review and act upon credible reports.

Targeted infractions encompass a wide spectrum of fraudulent activities, including:

Submitting falsified documentation or fabricated travel itineraries

Coordinating sham marriages through illicit brokers

Utilizing shell corporations to generate fake employment offers

Operating or facilitating commercial birth tourism schemes

TotalEnergies and AMNI International have reached a Final Investment Decision (FID) on the offshore IMA gas field project, clearing the way for a development expected to generate between $2 billion and $4 billion in total value over its lifespan.

The project, which is expected to produce about 300 million standard cubic feet of gas per day, marks a major milestone for Nigeria’s gas expansion strategy, bolstering energy supply security while capitalizing on favorable long-term market fundamentals.

Ima field, located offshore in OMLs 112 and 117, was discovered in 1973 but remained undeveloped for more than five decades. With the partnership, the project will be connected to the existing BNAG plant on Bonny Island through an 18-inch, 23-kilometre multiphase pipeline.

Speaking during FID signing in Abuja on Wednesday, Matthieu Bouyer, Managing Director, TotalEnergies Upstream Companies, said that the project was being enhanced through a certain number of reforms introduced by the Tinubu-led administration, especially the executive order specifically on the non-associated gas.

He explained that the reforms have improved the competitiveness of the Nigerian oil and gas sector and supported the investment conditions for projects such as Obeta, that was launched two years ago.

For Bouyer, the investment on Ima project is not only focused on energy infrastructure, but also represent an investment in Nigerian companies, Nigerian talent, and Nigerian long-term value and industrial capabilities.

‘The value must also be visible in the community closer to the project. And more than 60 percent of the work done locally will be done by local community workforce.

‘The project will create opportunities through employment, local contracting, vocational and technical skills development. Overall, the value generated by the project will be between $2 to $4 billion across its life, depending on the oil and gas prices in Nigeria.

‘Ima is not an isolated decision, it is part of Total Energy’s sustained commitment to the country as we have been present in Nigeria for more than 60 years,’ he said.

Speaking further, Bouyer said that the company’s projects in Nigeria, shows that Nigeria has competitive gas opportunities, capable partners, and the industrial and financial strength to deliver, measure, and deliver products.

For him, the priorities for the project are centered around, safety, disciplined delivery, and strong coordination across the value chain.

In his remarks, Tunde Afolabi, chairman, AMNI international petroleum company, said that the IMA project is not only a commercial development for the joint venture, but its gas will provide material feedstock to Nigeria LNG and support the additional capacity being created through Train 7.

He explained that by converting discovered gas into production, export earnings, government revenue and Nigerian business activity, IMA gives practical expression to Nigeria’s gas development ambitions.

Noting that major energy companies have investment opportunities competing for funding across many parts of the world, Afolabi said that reaching FID in Nigeria sends a positive signal that opportunities in can still be identified, structured, financed and developed successfully within the country.

‘We thank Nigeria LNG Limited for the confidence reflected in the long-term Gas Supply Agreement that underpins this investment. By converting discovered gas into production, export earnings, government revenue and Nigerian business activity, IMA gives practical expression to Nigeria’s gas development ambitions.

‘This decision was also enabled by deliberate action from the Federal Government. The fiscal and policy measures introduced for offshore non associated gas, together with the engagement of the relevant regulators and agencies, helped move IMA from opportunity to investable project.

‘We acknowledge that contribution and encourage the continued stability and predictability that will allow this FID to be followed by many others. Capital is disciplined, capital has choices and major energy companies today have investment opportunities competing for funding across many parts of the world.

‘Therefore, when companies take an FID in Nigeria, it sends an important signal, it says that opportunities in this country can still be identified, structured, financed and developed successfully,’ Afolabi said.

Also speaking at the event, Olu Verheijen, Special Adviser to the President on Energy, said that while Nigeria has never lacked resources, the challenge has been creating the commercial and investment conditions required to move those resources from beneath the ground into projects that employ Nigerians, create opportunities for Nigerian businesses, generate revenues and support economic growth.

The project according to her, also demonstrates the growing depth of Nigerian participation across the energy value chain.

While AMNI International petroleum development company accounts for 60 percent interest, TotalEnergies accounts for 40 percent interest and operatorship.

The National Examinations Council (NECO) has recorded a 58.67 percent pass rate in its 2026 Senior School Certificate Examination (SSCE) Internal, with 804,948 candidates obtaining five credits and above, including English Language and Mathematics.

The result was announced 63 days after the last paper of the examination was written by Dantata Wushishi, Registrar of NECO, at a press conference on Thursday in in Minna, Niger State.

Wushishi in a statement said 1,378,048 candidates registered for the examination, while 1,371,992 candidates eventually sat for the exercise, which commenced on June 15 and ended on July 23, 2026.

According to him, 1,162,118 candidates, representing 84.70 percent of those who sat for the examination, obtained five credits and above irrespective of their performance in English Language and Mathematics.

He, however, said 804,948 candidates, representing 58.67 percent, met the benchmark of five credits and above, including English Language and Mathematics.

The NECO registrar also disclosed that examination malpractice declined significantly during the 2026 exercise, with 1,406 candidates found involved in various forms of malpractice, compared with 3,878 candidates recorded in 2025.

He said the figures represented a 64.74 percent reduction in examination malpractice.

Wushishi attributed the improvement partly to the vigilance and support of security agencies, particularly the Nigeria Security and Civil Defence Corps (NSCDC) and the Department of State Services (DSS), during the examination.

He said their presence helped reinforce discipline, deter wrongdoing and protect the integrity of the examination process.

On state performance, Wushishi said Kano State recorded the highest number of candidates who obtained five credits and above, including English Language and Mathematics, with 74,413 candidates.

Lagos State followed with 72,496 candidates, while Oyo State ranked third with 55,543 candidates meeting the same benchmark.

He said the Southwest geopolitical zone recorded the highest share in the overall performance ranking based on candidates who obtained five credits and above irrespective of their performance in English Language and Mathematics.

The Southwest accounted for 24.60 percent, followed by the Northwest with 22.10 percent, North Central with 19.00 percent, Northeast with 14.70 percent, South-South with 10.53 percent and Southeast with 9.07 percent.

Wushishi said the Council provided separate rankings based on candidates who obtained five credits and above, with classifications for performance with and without credits in English Language and Mathematics, as well as gender-based rankings.

In the North Central, Benue led the state-level ranking with 3.82 percent, followed by Nasarawa with 3.66 percent.

In the Southeast, Anambra topped the ranking with 2.92 percent, followed by Enugu with 2.14 percent, while Ebonyi and Abia recorded 1.15 percent and 0.57 percent respectively.

For the South-South, Rivers ranked first with 3.03 percent, followed by Edo with 2.17 percent, Delta with 1.84 percent, Akwa Ibom with 1.61 percent and Cross River with 1.30 percent.

Wushishi said the detailed state, geopolitical zone and gender rankings were contained in the statistical tables accompanying the 2026 SSCE Internal results.

He also disclosed that candidates at NECO examination centres in the Kingdom of Saudi Arabia and Niger Republic recorded no candidate with five credits and above under the stated benchmark.

The registrar commended President Bola Tinubu for reappointing him for a second tenure and the Minister of Education, for his confidence in the leadership of the Council.

He assured stakeholders that NECO would continue to strengthen its examination processes and uphold the integrity of its assessments.

‘We will remain committed to our mandate and continue to uphold the integrity of our examinations,’ Wushishi said.

Businesses facing prolonged tax disputes and uncertainty over refunds want the government’s review of the new tax laws to provide clearer rules, faster resolution of disputes, and greater certainty around their tax obligations ahead of the 2027 Finance Bill.

‘After filing our tax returns, we received an assessment that we disagreed with. We submitted an objection, but the delay in resolving it left us uncertain about our outstanding tax obligations and made financial planning difficult,’ said an SME in Lagos that faced such issue.

This experience, amongst others, reflects some of the recurring concerns tax professionals say businesses encounter under Nigeria’s current tax framework, particularly when assessments are disputed or tax positions remain unresolved for extended periods.

Yvone Afolabi, a tax expert, highlighted that disputed assessments, delays in resolving objections, uncertainty around tax credits and refunds, and the administrative burden of complying with multiple tax requirements remain key concerns for taxpayers.

‘Businesses can also face cash-flow pressure when tax positions remain unresolved for extended periods’, she said.

The federal government has, however, commenced a six week review of the implementation of the new tax laws as it begins work on the 2027 Finance Bill, following concerns emerging from their implementation since January 2026.

Taiwo Oyedele, Minister of Finance and coordinating minister of the economy, announced that the government received 134 submissions from stakeholders across Nigeria’s geopolitical zones following a public call for input.

The submissions are expected to help identify areas requiring clarification, refinement or further reform.

Oyedele said the review was not intended to rewrite the 2025 reforms but to preserve their fundamental principles while responding to lessons from implementation and changing economic realities.

Tax professionals who spoke with BusinessDay said the review provides an opportunity to address areas where the new framework remains unclear or creates uncertainty for businesses.

Opeoluwa Ogundipe, a tax professional, said greater clarity was needed around what constitutes a Nigerian company and the meaning of effective place of management or control, particularly for multinational enterprises.

‘I hope the guidelines to be released will touch on what constitutes an effective phase of management or control, because the provision is a bit unclear, especial for MNEs’, he said, in relation to what the law says in section 147 of Nigeria Tax Administrative Act (NTAA)

Afolabi also urged that if she had the opportunity to recommend one specific amendment to the government ahead of the review, she will recommend ‘greater certainty around tax refunds, credits and disputed assessments, with clear statutory timelines and consequences for prolonged administrative delays’

According to her, clearer timelines would give businesses greater confidence in their tax positions, improve cash-flow planning and particularly help Small and Medium-sized Enterprises (SMEs) and businesses with significant VAT credits or genuine tax overpayments.

Abiodun Kayode-Alli, associate tax director PwC also pointed out that there’s still no official date for when the capital gains tax will take effect, and there should be more clarity for companies in the free trade zone on the criterias required for them to enjoy the tax exemptions provided

George Mbuba, a legal practitioner, has also proposed targeted amendments to the Nigeria Tax Act to address what he sees as gaps that could create uncertainty or unfair outcomes.

One of his proposals is an inflation adjustment for chargeable gains under Section 39 of the Nigeria Tax Act. His argument is that taxing gains using the original naira cost of an asset can overstate the actual economic gain where the asset has been held for several years and prices have risen substantially.

Mbuba’s proposal would allow the deductible cost of an asset to be adjusted using the change in the National Bureau of Statistics’ All-Items Consumer Price Index between the date of acquisition and disposal, subject to a safeguard preventing the adjustment from turning a genuine gain into a tax loss.

He also proposed a statutory test for determining when an individual is resident in Nigeria under Section 201 of the Nigeria Tax Act. His proposal would introduce a clearer 183-day sojourn test, supported by other factors such as domicile, habitual abode and substantial economic or personal ties, with an exception for diplomats.

The proposals come as the government reviews the implementation of the four major tax laws that took effect on January 1, 2026, with stakeholders also calling for clearer VAT thresholds, simpler withholding-tax provisions, stronger taxpayer protections, faster refunds and better coordination among revenue authorities.

Abdullahi Bello, Chairman of the Code of Conduct Bureau (CCB), has disclosed that the bureau has investigated and verified the assets of more than 20 ministers and 30 permanent secretaries as part of efforts to strengthen accountability among public officers.

Bello disclosed this in Abuja on Wednesday at an anti-corruption and asset-tracing stakeholders’ workshop organised by the Human and Environmental Development Agenda (HEDA) in collaboration with the Platform to Protect Whistleblowers in Africa.

The CCB chairman said the bureau had moved beyond merely receiving asset declaration forms from public officers to examining the declarations, investigating suspected infractions and prosecuting offenders.

‘We are not submitting forms anymore. Now, we’re examining the forms, we’re also investigating, and we’re also prosecuting,’ he said.

Bello said the bureau had focused its asset verification exercise on high-profile public officers, including ministers, permanent secretaries and officials of health agencies.

‘We have interviewed and verified the relations of more than 20 ministers, 30 permanent secretaries, 32 health agencies, and other high-profile individuals,’ he said.

He explained that the bureau invites public officers to its office for face-to-face examination of their records as part of the verification process.

According to him, the CCB verifies assets declared by public officers at the beginning of their tenure and conducts another verification at the end of their tenure to determine whether there are unexplained changes.

‘One of the key things that we do is that, once you declare your assets at the beginning of your term, we verify it; then we’ll wait for you at the end of your term, and we’ll also verify it.

‘If you see any difference between the beginning and the end, that can only be explained by your non-social income, then we investigate you and prosecute you,’ he said.

Bello, however, said the CCB does not have to wait until the end of an official’s tenure before commencing an investigation.

He said the bureau could investigate a public officer whenever it receives an allegation or intelligence suggesting possible misconduct.

‘But it doesn’t mean that we have to wait for you to finish office before we can investigate you. If there is any allegation against you, we can also investigate. Or if there is intelligence against you, we can also investigate,’ he said.

The CCB chairman described asset tracing as a central component of the bureau’s anti-corruption activities, saying it enables investigations to continue beyond the identification of suspected breaches.

‘Asset tracing is not a side issue. It’s where investigation becomes persistent,’ he said.

Bello also disclosed that the bureau had secured convictions and obtained the forfeiture of properties and funds linked to breaches of the Code of Conduct.

‘For the first time in the life of CCB, we have been able to do that,’ he said.

He said provisions of the Code of Conduct provide for sanctions against public officers found guilty of breaches, including removal from office, disqualification from holding public office and forfeiture of assets acquired through such breaches.

‘If you look at the prohibition of the Code of Conduct, there are three major punishments for Code of Conduct breaches. First, you can be banned from office for 15 years. You can be removed from office. And then finally, the assets that you acquire from a breach can be forfeited to the government,’ he said.

Arigbabu Sulaimon, Executive Secretary of HEDA, said the meeting was aimed at strengthening inter-agency collaboration, intelligence sharing and the role of civil society organisations in combating corruption.

Sulaimon said the workshop was ‘conceptualised not merely as a platform for speeches, but as a technical working session’ designed to advance three core institutional objectives.

He said the first objective was ‘bridging interagency silos and fostering civic synergy,’ stressing the importance of effective information sharing between government agencies and civil society organisations.

‘Realising full accountability requires seamless real-time intelligence exchange among our primary military and enforcement bodies,’ Sulaimon said.

He added that civil society organisations could support investigations through grassroots monitoring and open-source intelligence.

‘Importantly is forging strong operational pipelines with civil society organisations whose grassroots tracking and open-source intelligence tools provide invaluable leads for criminal investigation,’ he said.

Sulaimon also called for greater use of the Proceeds of Crime Act (POCA) and the statutory mechanisms of the Code of Conduct Bureau in tracing and recovering illicit assets.

‘Operationalising the Proceeds of Crime Act, POCA, is essential to ensure that confiscated assets are not only effectively recovered, but managed and disposed of with absolute public transparency,’ he said.

He further urged authorities to make asset declaration a more effective tool for detecting illicit enrichment and abuse of public office.

‘Furthermore, we must transform the code of conduct we use after the declaration process from a routine and restricted exercise into a dynamic, verifiable mechanism for detecting early signs of illicit enrichment and public office abuse,’ Sulaimon said.

On whistleblower protection, the HEDA executive secretary called for stronger safeguards to encourage individuals to provide information on corruption and other crimes.

‘Whistleblowers remain the single most effective catalyst for uncovering criminal crimes. Yet, without robust statutory protections and safe reporting mechanisms, courageous individuals remain vulnerable to retaliation,’ he said.

Nigeria and the United States have signed a Critical Minerals Framework Agreement aimed at deepening investment in Nigeria’s mining sector, strengthening mineral supply chains and promoting greater value addition within the country.

The agreement was signed on Wednesday at Nigeria House in New York City, on the sidelines of the 81st United Nations General Assembly, by Dele Alake, Minister of Solid Minerals Development, and Christopher Landau, US Deputy Secretary of State. Multiple reports identify the venue as Nigeria’s Mission House.

The framework provides a basis for increased cooperation between both countries across geological data and exploration, mineral development and processing, infrastructure, and technical capacity.

For Nigeria, the agreement comes as the Federal Government seeks to attract greater private investment into the solid minerals sector while reducing dependence on the export of unprocessed minerals.

Alake said Nigeria’s ambition was to move beyond being a source of raw materials and retain more value from its mineral resources through local processing, skills development, job creation and opportunities for Nigerian businesses.

The Federal Government estimates Nigeria’s mineral resources at about $700 billion, although the commercial value that can ultimately be realised will depend on exploration, infrastructure, financing, processing capacity and other investment conditions.

From agreements to projects

The significance of the framework will ultimately depend on how quickly it translates into investable projects and commercial partnerships.

Demola Gbadegesin, an emerging markets and infrastructure professional who witnessed the signing, said the agreement could create opportunities for investment in exploration and responsible mining, increased processing within Nigeria, skilled employment and stronger mineral supply chains linking the two economies.

‘For me, its promise is tangible: investment in exploration and responsible mining, more processing within Nigeria, skilled jobs, and stronger mineral supply chains linking our two economies,’ Gbadegesin said in a LinkedIn post following the signing.

He added that the impact of the agreement should be measured not only by activity within the mining industry but also by the benefits reaching communities where minerals are extracted.

‘Success should be felt in the communities where these minerals are found, as well as in the industries they supply,’ he said.

Gbadegesin, who is associated with Promethean Resources, said the private sector now has a responsibility to help translate the framework into operating projects and long-term partnerships alongside the two governments.

Focus on value addition

The agreement reflects Nigeria’s broader effort to develop a domestic mineral value chain rather than concentrate primarily on extraction and export.

According to reports on the signing, cooperation under the framework will span the mineral development chain, from geological information and exploration to processing, infrastructure and technical capacity.

For US investors, the framework could provide a platform for greater engagement with Nigeria’s mineral resources and create opportunities for business-to-business transactions.

Landau said the agreement demonstrated that Nigeria and the United States viewed each other as partners and that Washington was prepared to support Nigeria’s economic growth.

The two countries are also seeking more secure and resilient critical-mineral supply chains, an increasingly important issue for industrial and technology supply chains globally.

What happens next?

The immediate challenge will be implementation.

Nigeria will need to convert geological potential into bankable projects, while investors will require reliable geological data, clear regulation, infrastructure, security, financing and predictable processes for developing and processing mineral assets.

The government has previously highlighted efforts to digitise geological data and make information on mineral occurrences more accessible to potential investors.

For communities, the test will be whether increased mining activity translates into jobs, infrastructure, local procurement and broader economic opportunities while maintaining responsible mining practices.

As Gbadegesin put it, the question now is what meaningful progress under the framework will look like one year from now.

That shifts the focus from the signing ceremony in New York to the harder task of turning a bilateral framework into mines, processing facilities, businesses, jobs and stronger mineral supply chains in Nigeria.

A statement by Obinna Ezeobi, General Manager, Corporate Communications Division of NCDMB, on Tuesday, said the Board engaged more than 100 Chinese Original Equipment Manufacturers (OEMs) in Chengdu, China, as part of NCDMB and oil industry’s participation in the 15th China Shale Oil and Gas Summit.

The Summit with the theme: Empowering Efficient and Green Development Via Intelligent Technologies, Innovating to Lead the Shale Oil and Gas Revolution, convened from 20 to 23 September 2026 at the Chengdu Century City International Conference Centre in China.

It provided a platform for NCDMB and representatives of key groups in the oil industry to showcase Nigeria’s local content framework and investment opportunities in manufacturing, technology and broader oil and gas services.

Austin Uzoka, Director, Project Certification and Authorization Division (PCAD) and Senior Technical Adviser to the Executive Secretary, delivered a keynote address on the first day of the summit titled, Nigeria’s Local Content Journey and Opportunities for Chinese Collaboration in Oil and Gas Equipment Manufacturing.

Uzoka, who represented Felix Omatsola Ogbe, Executive Secretary of NCDMB, explained that the board was seeking to move the relationship between the Nigerian oil and gas industry and Chinese manufacturers beyond the conventional buyer-seller model towards investment, manufacturing, technology transfer and stronger integration into global supply chains.

He assured that the Nigerian Oil and Gas Content Development (NOGICD) Act guarantees that any oil and gas equipment manufacturing facility that is established in the country will be patronised by the oil and gas industry, with further opportunities across the Gulf of Guinea.

‘We are looking beyond the traditional buyer-seller relationship. What can we build together? We want Chinese companies to see Nigeria not simply as a market for their products, but as a strategic investment destination, a platform for manufacturing and technology development, and a gateway to opportunities across the wider African market,’ he said.

He highlighted the Nigerian Oil and Gas Park Scheme (NOGaPS) as a platform for industrial investment, encouraging Chinese OEMs to establish manufacturing, assembly and service operations in Nigeria, with opportunities for technology transfer, technical arrangements and integration of Nigerian businesses into their supply chains.

He also identified China’s strength in manufacturing, engineering, technology and energy infrastructure as an opportunity to support Nigeria’s industrial development.

‘China has developed tremendous capabilities in manufacturing, engineering, technology and energy infrastructure. We want to explore how those capabilities can be connected with the opportunities that exist in Nigeria, for mutual benefits’ he added.

On Nigeria’s local content journey, Uzoka explained that the agenda had evolved from increasing Nigerian participation in oil and gas projects to a broader drive for industrial capacity, manufacturing, technology ownership and global competitiveness.

‘Nigeria’s local content journey has evolved significantly since the Local Content Law was enacted in year 2010. What began primarily as an effort to increase Nigerian participation in the oil and gas industry has developed into a broader industrial development agenda focused on building capabilities, deepening manufacturing, promoting technology ownership and positioning Nigerian businesses to compete within regional and global markets,’ he observed.

The second day of the summit featured a Business-to-Business (B2B) session organised by the board, which drew participation from more than 100 Chinese equipment manufacturers and Nigerian oil and gas industry stakeholders to explore opportunities in local manufacturing, supply-chain integration, investment, technology development and market access.

Representatives of the Petroleum Technology Association of Nigeria (PETAN) led by Sylvester Ovunwese, participated alongside representatives of Project 100, including Olateju Oyelakun of Encapsulate Nigeria Limited and Namdi Akudulu of Wider Energy.

Renaissance African Energy Company was represented by Olarenwaju Lanre Olawuyi, General Manager, Nigerian Content Development, who made a presentation on behalf of the company and Oil Producing Trade Session (OPTS).

The session provided an opportunity for Nigerian companies to showcase their capabilities while Chinese manufacturers explored prospects for market entry, local production and technical cooperation.

The statement said the engagement generated significant interest among participating Chinese OEMs with several of them expressing willingness to explore business relationships with Nigerian companies and participate in Nigeria’s expanding oil and gas manufacturing ecosystem.

In her closing remarks, Lekoma Phimia, General Manager, Midstream (PCAD), expressed satisfaction with the outcome of the engagement and urged stakeholders to build on the connections established during the session to develop commercially viable and sustainable business relationships.

NCDMB’s participation also extended to the exhibition floor, where the its booth attracted visitors, industry players and prospective investors seeking information on Nigeria’s oil and gas sector, local content opportunities and avenues for establishing business operations in the country.

The Chengdu programme reinforced NCDMB’s commitment to expanding Nigeria’s international industrial connections and advancing the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

By connecting Nigerian businesses with global manufacturers and technology providers, NCDMB is seeking to move the local content agenda from participation to capability, capability to manufacturing, and manufacturing to technology ownership and regional competitiveness.

The Independent National Electoral Commission (INEC) has warned Nigerian editors that artificial intelligence-driven deepfakes, cloned audio, and fabricated election results could undermine public confidence in the 2027 general elections, urging newsrooms to make rigorous digital verification a frontline defence of democracy.

Joash Amupitan, chairman of INEC, gave the warning on Thursday in Enugu at the 22nd All Nigeria Editors Conference. He cautioned that generative artificial intelligence had moved election misinformation beyond conventional propaganda into what he described as a synthetically manufactured reality.

Represented by Chukwuemeka Chukwu, Resident Electoral Commissioner for Enugu State, Amupitan said malicious actors could now produce convincing videos of electoral officials, clone their voices, and circulate fabricated result sheets within minutes of the close of polls.

Truth greeted with skepticism

Amupitan warned that the danger went beyond individual falsehoods, noting that widespread exposure to convincing fake content could cause citizens to doubt even genuine information released by constitutional authorities.

‘When deepfakes render lies believable, real truth is greeted with skepticism. Cynicism replaces civic engagement,’ Amupitan said.

The INEC chairman urged editors to establish specialised fact-checking desks, deploy forensic image-analysis tools, and ensure that election results are verified through official INEC channels before publication.

He also issued a strong warning against the publication or amplification of privately collated election results, particularly figures circulated by political actors on social media.

Safeguards and journalist welfare

Amupitan disclosed that INEC was responding to the changing information environment by establishing a dedicated Artificial Intelligence Division within its Information and Communications Technology Department.

He also linked the economic welfare of journalists to the credibility of Nigeria’s democratic process, warning media owners that poorly remunerated journalists could be more exposed to political inducement.

Eze Anaba, president of the Nigerian Guild of Editors, said the media had a responsibility to protect democratic institutions by holding power accountable and creating space for diverse voices. Meanwhile, Igwe Nnaemeka Alfred Achebe, the Obi of Onitsha, called for the creation of a joint rapid response desk involving newsrooms to counter election misinformation ahead of 2027.

The battle to rid Nigeria of drug trafficking got a boost on Thursday, as the National Drug Law Enforcement Agency (NDLEA) struck another decisive blow against transnational organised crime, busting a sophisticated meth cartel lab on Enugu

The anti- narcotics agency dismantled the lab operated by a Nigerian-Mexican drug cartel operating the clandestine methamphetamine laboratory in Eziama community in Obeagu, Awgu Local Government Area of Enugu State.

The Agency’s Spokesman, Femi Babafemi, revealed that two kingpins, including a 45-year-old Chukwu Obumneme Christopher, alias Brown, and 60-year-old Chukwu Georginus Monday, alias George, were arrested in connection with the operation of the meth lab.

BusinessDay gathered that the duo, who were operating in partnership with a notorious Mexican drug cartel member, Rodriguez Villanueva, based in Mexico City, Mexico, were arrested after several months of intelligence and surveillance on the syndicate.

‘As a result, they were arraigned before Hon. Justice Mabel Taiye Segun-Bello of the Federal High Court, Enugu Judicial Division, on a five-count charge bordering on conspiracy, the organisation, management and financing of a Drug Trafficking Organization’

They are also facing charges of ‘unlawful possession of precursor chemicals used in methamphetamine production, contrary to the NDLEA Act.

‘After their plea, Justice Segun-Bello has now scheduled their trial for 21st October 2026, following an application by the Agency for an accelerated hearing.’

The NDLEA said it has also spread its dragnet for the arrests of Uchenna, alias Uche; Celestine Ikemefuna Iwuchukwu; and Rodriguez Villanueva, who is a notorious member of a Mexican drug cartel, who are currently on the run

Investigations by a Special Operations Unit (SOU) of NDLEA revealed a sophisticated, transnational operation by the Nigerian-Mexican cartel.

Surveillance activities by NDLEA between 1st and 4th December, 2025, tracked Brown’s movements between Lagos, Enugu and Anambra States, ultimately leading operatives to a compound in Obeagu where a clandestine laboratory capable of producing methamphetamine in commercial quantities was uncovered.

The lab, fitted with improvised reactors and distillation apparatus, mirrored similar facilities recently dismantled in Ogun, Oyo and Ebonyi.

‘ A search of the premises led to the recovery of vast quantities of precursor chemicals, including 690 litres of methylamine, 1,000 litres of isopropyl alcohol, 300 litres of hydrochloric acid, and 290 litres each of toluene and acetone.

Others items recovered include 400 litres of liquid sodium hydroxide, 125 kilograms of N-phenylacetamide, 414 kilograms of lead acetate, and 769.6 kilograms of tartaric acid, among other controlled substances

The NDLEA said the haul is consistent with a high-potency, P2P-based methamphetamine manufacturing operation.

‘A related search of George’s family residence yielded eight large fuel tanks, four commercial gas burners, four dehydrators, and 11 kilograms of ephedrine, further underscoring the scale of the cartel’s operations’.

Reacting to the development, Buba Marwa, Chairman/Chief Executive of the NDLEA, reaffirmed the Agency’s unwavering resolve to track down every fleeing suspect connected to the cartel and ensure that they all face the full weight of the law.

He commended all NDLEA officers involved in the operation for their professionalism and doggedness in cracking yet another international drug syndicate.

He described the Enugu lab bust as further proof that Nigeria will not be allowed to become a haven for transnational drug cartels, warning that the Agency’s intelligence-driven operations and international partnerships would continue to close every loophole exploited by drug barons, whether local or foreign.