Category: Nigerian Tribune

Tourism is not built by speeches. It is built by systems, and the most successful tourism economies in the world understand this simple truth. They treat the tourism value chain as a shared responsibility that must be constantly revisited, funded, and activated. For Nigeria, that lesson has never been more urgent. We cannot afford to keep doing partnership by press release, while other nations are doing partnership by projects, data, and dollars.

Look across continents and you will see what collaboration actually looks like when it is operational and not ceremonial. In West Africa, Ghana’s ‘Year of Return,’ in 2019 and the follow-up ‘Beyond the Return’ campaign were not the work of government alone. The Ministry of Tourism, the Ghana Tourism Authority, private airlines, hotels and the diaspora, all pulled in the same direction.

The result was 1.1 million international arrivals in 2019 and about 3.3 billion dollars in receipts. Rwanda took a different route but with the same principle. By partnering with Arsenal FC and running ‘Visit Rwanda’ to market gorilla tourism, the country recorded 1.4 million visitors in 2023 and 620 million dollars in revenue, a 36 percent jump from the previous year. Their secret was not one big event. It was constant activation through events, joint marketing, and tracking what works.

Move further across Africa and the pattern repeats. Morocco’s Ministry of Tourism, working with regional councils and private operators, runs ‘Light in Action’ campaigns in Europe and the Gulf. In 2023, that machinery delivered 14.5 million tourists and 11 billion dollars. Kenya’s ‘Magical Kenya’ brand is co-funded by government and the private sector, and in the same year, it welcomed 2.09 million tourists, who spent 4.42 billion dollars.

In Europe, Spain manages tourism through formal agreements between the central government, its 17 autonomous regions and industry players. That structure helped Spain host 85.2 million international tourists in 2023 and earn 92 billion dollars. France, still number one globally, received 100 million visitors and 71 billion dollars in receipts, driven by the constant collaboration between Atout France, the regions and operators on the ground.

In Asia, Thailand’s ‘Amazing Thailand’ campaign is run jointly by the Tourism Authority, airlines and hotels. Even after COVID, Thailand recovered to 28 million visitors in 2023 and 49 billion dollars in earnings. Singapore does something similar. The Singapore Tourism Board works with Changi Airport and over 300 private firms, and in 2023 that ecosystem brought in 13.6 million visitors and 22.8 billion dollars. The Arabian Gulf tells the same story. Dubai Tourism works hand-in-hand with Emirates, Emaar and the eight emirates, and Dubai alone had 17.15 million visitors in 2023.

Saudi Arabia, through Vision 2030, led by the Ministry of Tourism and the PIF, delivered 27.4 million international tourists and 38 billion dollars in revenue. The message is consistent everywhere. Collaboration plus constant activation equals results.

Nigeria’s reality, unfortunately, is different, we are good at the first step. We sign MOUs. We host seminars. We take photos. The recent NTDA and FTAN collaboration with the Chinese Embassy for the ‘China Tourism Development Experience Seminar’ scheduled for September 8, 2026, at the China Cultural Centre, in Abuja, is a welcome move. But, the real test will be what happens after that morning. Will there be trainers exchanged? Will policy lessons be adopted? Will pilot projects be funded? Or will it end as another idea with no execution? That is the gap that has kept us behind. While Morocco builds desert resorts and Rwanda sells gorillas, we are still arguing over who should market Yankari. While Dubai builds airports and Saudi builds NEOM, many of our destinations still struggle with access roads, security and poor packaging.

If we are serious about changing this, collaboration must happen at every layer and it must move from talk to task. The National Assembly has to treat tourism like agriculture and oil. We need a Tourism Development Fund Act, real tax incentives for investors, and oversight that tracks projects instead of just holding hearings. Spain and Saudi Arabia did not grow tourism by accident. They legislated it.

The Federal Ministry of Tourism, Arts and Culture and the Creative Economy, working with NTDA, must coordinate ‘Brand Nigeria,’ negotiate bilateral agreements with clear execution clauses, and publish data. Every bilateral tie should come with a 12-month project deliverable so that we stop signing MOUs that gather dust.

The states own the products. Cross River has the rainforest, Osun has Osun-Osogbo, Lagos has nightlife and entertainment, Plateau has the weather. Kano has history. State tourism boards must be professionalised, funded and aligned with federal marketing. Rwanda’s success came because the national government and the districts worked together, and we must copy that discipline.

The private sector, from FTAN to hotels, tour operators and airlines, must also stop waiting for government. Ghana’s breakthrough happened because airlines, hotels and event planners put money behind the campaign. We need more data sharing, more training, and higher standards across the board.

When we finally move beyond handshakes to implementation, the gains will be obvious. If Nigeria captures just five percent of Africa’s 66 million international tourists recorded in 2023, which is 3.3 million visitors, an average spend of $1,500 per tourist that is close to five billion dollars annually. Tourism employs one in 10 people globally. With over 35 million Nigerians unemployed or underemployed, this sector can be our biggest job engine. Through public-private partnerships modeled after Dubai and Morocco, we can deliver roads to Olumo Rock, an airport near Obudu, and visitor centers at Argungu. Most importantly, tourism is non-oil; it is less volatile, and it spreads wealth directly to communities.

The time for ‘idea, photo and handshake’ tourism is over. What we need now are Quarterly Tourism Implementation Summits that bring together the Ministry, states, National Assembly committees and FTAN to review projects. We need Bilateral Tourism Compacts with China, the UAE, Morocco and Ghana that include exchange programmes, joint marketing and at least two funded projects every year. We need a State-Federal Marketing Fund where states contribute and NTDA matches for global campaigns. And we need a Tourism Data Dashboard published monthly, the way the CBN reports foreign exchange, so that we can measure what works and fix what does not.

Ghana did it with diaspora. Rwanda did it with gorillas. Morocco did it with deserts. Dubai did it with vision. Nigeria can do it with culture, creativity and scale. But only if we collaborate, and only if we sustain that collaboration through practical programmes. The National Assembly must legislate it.

The ministry must coordinate it. The states must own it. The private sector must drive it. Tourism will not develop because we wish it. It will develop because we work for it, together, consistently, and beyond lip service. Nigeria’s potential is not the problem. Our commitment to execution is. Let us fix that now.

Guinness Nigeria Plc has deepened its engagement with Nigeria’s evolving lifestyle and social culture with the launch of a new Guinness Lounge at Magic Padel, Federal Palace Hotel, Victoria Island, Lagos. The partnership brings together sport, music, hospitality and social interaction, introducing Guinness into Lagos’ rapidly growing padel community and creating a new destination for players and guests to relax, connect and socialise.

The launch, held on Thursday, August 20, featured refreshed Guinness-branded padel courts and the unveiling of the new Guinness Lounge, a dedicated space designed for conversation, relaxation and celebration after the game. The collaboration is part of Guinness Nigeria’s broader effort to create experiences that go beyond traditional consumption occasions by connecting the brand with the interests and passions shaping contemporary Nigerian lifestyles.

Speaking at the launch, Chairman of the Board of Directors, Guinness Nigeria Plc, Professor Fabian Ajogwu, OFR, SAN, said the partnership demonstrated the brand’s ability to embrace emerging trends while retaining its heritage.

‘Guinness Nigeria has always evolved with the times without losing sight of the heritage and values that make Guinness an iconic brand. Our partnership with Magic Padel is another expression of that philosophy,’ he said.

Ajogwu added that bringing the Guinness experience into an emerging lifestyle space would create opportunities for meaningful connections while supporting communities built around sport, wellness and social interaction.

Also speaking, Managing Director/Chief Executive Officer of Guinness Nigeria Plc, Girish Sharma, said the partnership reflected the company’s commitment to engaging consumers in spaces that are increasingly important to them. According to him, consumers are increasingly looking for experiences that combine connection, entertainment, wellness and hospitality.

‘Magic Padel provides a compelling platform for that. This partnership allows us to take the bold and distinctive character of Guinness into a vibrant social environment while creating a space where people can relax, connect and enjoy memorable moments,’ Sharma said.

For Magic Padel, the partnership represents an opportunity to strengthen the social dimension of the growing sport. Operations Manager of Magic Padel, Maya Semaan, described the collaboration as a natural fit between two brands united by a focus on community and bringing people together.

‘For us at Magic Padel, the experience here is a lot more than the game. It is about great people coming together to build a community and create great experiences,’ she said.

Semaan said the partnership went beyond placing the Guinness brand on the courts or lounge, noting that both companies were focused on creating memorable experiences through sport and entertainment.

The new Guinness Lounge and branded courts position the partnership at the intersection of Guinness’ longstanding heritage and the contemporary energy surrounding Lagos’ expanding padel scene. Through the initiative, players and visitors can combine sporting activity with social interaction in a setting designed to encourage relaxation, entertainment and community.

The launch also adds to Guinness Nigeria’s more than seven-decade presence in the country. The company produced its first locally brewed Guinness Foreign Extra Stout in Nigeria in 1963 and has continued to adapt its offerings and consumer experiences to changing tastes, lifestyles and aspirations.

The Magic Padel partnership, therefore, represents another chapter in the brand’s efforts to remain culturally relevant while retaining the identity and heritage associated with Guinness in Nigeria.

The Delta State Government has said it is pursuing reforms in the power sector to attract private investment, expand electricity supply and reduce the state’s dependence on the national grid.

Already, the state has entered into a partnership with Supply Power to generate an additional 120 megawatts of electricity for the national grid.

The State Commissioner for Works (Rural Roads) and Public Information, Mr Charles Aniagwu, who disclosed this at a press conference in Asaba, said the initiative was part of the government’s broader strategy to improve electricity supply and support small and medium-sized businesses whose operations depend heavily on reliable power.

Aniagwu said the government was not seeking to return to an era when government alone controlled and operated businesses, stressing that the ongoing reforms were designed to create room for greater private-sector participation through liberalisation and public-private partnerships (PPPs).

According to him, the government is exploring opportunities to harness Delta’s abundant gas resources for electricity generation, particularly within the Kwale Free Trade Zone, which forms part of the state’s special economic zone.

He said investors had been taken to the zone during the state’s economic summit to demonstrate the availability of gas as a raw material for power generation.

Aniagwu explained that increased local power generation would reduce pressure on the national grid and make more electricity available to other users.

He cited the 8.5-megawatt Independent Power Plant behind the state secretariat in Asaba as an example, noting that the facility had enabled the secretariat complex to operate independently of the national grid.

‘Once you have an alternative source of power for the secretariat, the energy that would have been consumed by the secretariat becomes available for homes and other users,’ he explained.

Aniagwu said the state government had also intervened in areas traditionally regarded as the responsibility of electricity distribution companies because it was determined not to allow poor power supply to undermine economic growth.

He cited the extension of the electricity grid from Abraka towards the Ndokwa axis as one of such interventions, saying the objective was to ensure that more communities were connected to electricity.

He, however, expressed concern over the practice of residents and communities being required to provide transformers and other infrastructure, only for electricity distribution companies to subsequently collect bills without adequately accounting for the investments made by the communities.

According to him, the state government was willing to continue supporting efforts to energise communities because improved electricity supply would stimulate economic activity, create opportunities and potentially reduce security challenges associated with unemployment and idleness.

Aniagwu said the government was also working with the Ministry of Energy and a committee established to fine-tune the state’s energy regulatory framework.

He explained that the proposed energy commission would play a crucial role in regulating new power producers, determining appropriate pricing and overseeing distribution networks.

The Commissioner noted that electricity distribution required careful planning, including decisions on whether to deploy overhead, underground or other forms of power lines, depending on the peculiarities of each location.

He stressed that proper regulation was necessary to ensure that electricity expansion did not expose residents to electrocution or other hazards, while also ensuring fair pricing and protection of power infrastructure.

Aniagwu said the ultimate objective of the reforms was to create a more efficient and sustainable power sector capable of supporting businesses, communities and households across Delta State.

Minister of Defence, Gen. Christopher Musa (retd.), has explained why troops were able to rescue abducted victims without killing or arresting the terrorists.

The Defence Minister said the strategy was designed to force terrorists to abandon their captives and flee once they detected the presence of security forces around their hideouts.

The minister spoke on Channels Television’s Politics Today on Thursday, amid concerns over the persistence of kidnapping for ransom and questions about recent military operations in which troops rescued victims without engaging their captors in deadly confrontations.

According to him, security forces could strategically surround terrorist locations and cut off the supplies needed for the criminals to survive in their hideouts.

He said terrorists often flee when they detect the presence of security forces, particularly when confronted with aerial surveillance or drones, leaving their victims behind.

‘Sometimes, if you carry out manoeuvres. The funny thing is, the terrorists too don’t want to die. I hope you know that. All these they’re doing, carrying weapons, they don’t want to die.

‘So once there’s anything, even if it’s a drone that comes, you see them scatter away and leave everybody. That’s what happens,’ he said.

Musa said the military’s approach was to deny terrorists access to the supplies that enable them to remain in their hideouts.

‘So what we normally do is once we’re able to identify where they are, we block avenues for them. Like I said, take out the oxygen, they will die,’ he said.

He added that individuals who secretly supplied terrorists with fuel, water, and food were helping to sustain their operations.

‘As long as people go to support to sneak in, give them fuel, give them water, give them food, give them all this, these are the things that are making them thrive. Once they don’t have that, they can’t survive,’ he said.

The minister also said ransom payments could provide security agencies with opportunities to trace the financial activities of terrorists and their networks.

He said the Central Bank of Nigeria was working to track funds suspected to be linked to criminal activities.

‘I’m happy that the CBN too is living up to expectation, trying to make sure that even if we were able to trace monies that are coming in from those other areas, we can track back where they are,’ Musa said.

Musa also appealed to state governors to reconsider the distribution of motorcycles as palliatives, warning that some of the motorcycles could eventually find their way into the hands of terrorists and provide them with increased mobility.

‘We try to appeal to even governors to stop selling motorcycle-giving motorcycles out as palliatives. Because these motorcycles are the same ones that still end up with these terrorists into using,’ he said.

He urged governments that must distribute motorcycles as part of empowerment programmes to consider lower-capacity models that would be less useful to armed groups.

‘Even if you have to give, don’t give them the big capacity motorcycles, give them the small capacity ones that they won’t be able to use to run around, because that gives them leverage. They can easily enter and then disappear,’ he said.

The defence minister further alleged that motorcycles distributed through constituency projects and palliative programmes could subsequently find their way into the hands of bandits.

He stressed the need for greater scrutiny of items distributed under government empowerment and relief programmes to prevent them from being diverted to criminal groups.

Ten Nigerian companies have been included in FTSE Russell’s FTSE Frontier Index Series ahead of Nigeria’s return to Frontier Market status.

The inclusion was announced in FTSE Russell’s September Index Review, following its decision to reclassify Nigeria from Unclassified to Frontier Market status.

The Nigerian companies included in the index are: Aradel Holdings, Dangote Cement, First HoldCo, Guaranty Trust Holding Company (GTCO), MTN Nigeria Communications, Nestlé Nigeria, Nigerian Breweries, Presco, Stanbic IBTC Holdings and Zenith Bank.

FTSE Russell classifies the 10 Nigerian stocks as ‘Newly Eligible’ and lists them as large-cap stocks in the index.

The reclassification of Nigeria to Frontier Market status is scheduled to take effect from the opening of trading on Sept. 21.

The FTSE Frontier Index Series provides benchmarks covering large, mid and small-cap companies across eligible frontier markets.

It also serves as a performance benchmark for investors and a basis for index-tracking investment products.

FTSE Russell said the indices could be segmented by size, region, country and industry sector, and calculated on both price and total-return bases.

Nigeria was removed from the Frontier Market classification and placed in the Unclassified category in September 2023, following significant and continuing delays affecting international institutional investors’ ability to repatriate capital and execute foreign exchange transactions.

The process toward reclassification began in October 2025, when FTSE Russell placed Nigeria on its Watch List for potential reclassification following improvements in foreign exchange liquidity, capital repatriation and market accessibility.

In April, FTSE Russell announced that Nigeria would return to Frontier Market status, with Sept. 21 set as the effective date.

However, the transition plan was subsequently paused for additional assessment following Nigeria’s move from a T+2 to a T+1 settlement cycle on June 1.

The review followed concerns among market participants that the shorter settlement cycle could create a de facto prefunding requirement for international institutional investors trading Nigerian securities.

The development prompted engagements among NGX Group, the Securities and Exchange Commission (SEC), FTSE Russell, global custodians and international institutional investors.

In July, a delegation from NGX Group held discussions with global custodians and institutional investors to explain the operation of the T+1 settlement framework.

The engagement allowed NGX Group to showcase progress on the new settlement cycle, address investor concerns, and reaffirm its commitment to global market standards.

On Aug. 27, FTSE Russell confirmed that Nigeria’s reclassification from Unclassified to Frontier Market status would take effect from the opening of trading on Sept. 21.

The return is expected to enhance the visibility of Nigerian equities among global investors and provide a framework for increased participation in the domestic capital market. (NAN)

The PBAT Door-to-Door Movement 2027 has challenged former Vice President Atiku Abubakar to visit the United States and address controversies surrounding his alleged links to issues that emerged during the corruption investigation involving former US Congressman William Jefferson.

The group, which is campaigning for the re-election of President Bola Ahmed Tinubu, said Atiku should be willing to face scrutiny over his past as he prepares to contest the 2027 presidential election.

In a statement signed by its National Coordinator, Comrade Sunday Adekanbi Asuku, the movement said the issues surrounding the Jefferson case were not mere political allegations but were raised during a United States federal investigation and court proceedings.

William Jefferson, a former US Congressman from Louisiana, was convicted on corruption charges following a federal investigation into his financial and business dealings.

The group alleged that the proceedings also raised questions about dealings involving Atiku, who was Nigeria’s vice president at the time, including an alleged $500,000 payment which it claimed was linked to him.

The movement urged Atiku to provide Nigerians with an explanation of the circumstances surrounding the allegations rather than allowing them to remain subjects of political controversy.

It also raised questions about a US Senate investigation into millions of dollars allegedly moved into the United States through financial arrangements involving Jennifer Douglas, Atiku’s former wife.

According to the group, the investigation examined offshore transactions and other financial dealings, including transactions allegedly linked to Siemens.

The movement, however, acknowledged that raising the issues did not amount to declaring Atiku guilty of any offence.

It argued that any politician seeking to become president should be prepared to answer questions concerning controversial aspects of his public record.

To underscore its challenge, the PBAT Door-to-Door Movement said it was prepared to finance Atiku’s trip to the United States if financial considerations were preventing him from travelling there.

The group said it was willing to cover his flight, accommodation and other travel expenses, including those of his aides, if he accepted the challenge and travelled to the US to address the issues it raised.

It said the duration or cost of the trip should not be an excuse for declining the challenge.

‘We are ready to foot his bill for the trip, even if it is for him to land in the US and spend just five hours. Let him just land in America. We are ready to pay for his flight and accommodation for him and all his aides if he cannot afford it,’ the group said.

President Bola Ahmed Tinubu’s administration has launched the South-South zonal phase of the National Community Food Bank Programme in Cross River, with a renewed commitment to tackling food insecurity and malnutrition among vulnerable Nigerians.

The programme, launched in Calabar by the First Lady, Senator Oluremi Tinubu, on Friday, targets children below six years, pregnant women and lactating mothers, with the provision of nutritious food to support healthy growth and development.

The South-South rollout covers Cross River, Akwa Ibom, Bayelsa, Delta, Edo and Rivers states, and marks the fifth zonal launch of the national programme following similar launches in the North-East, North-West, North-Central and South-West zones.

The First Lady said three community food banks were being launched simultaneously across Cross River’s three senatorial districts.

They are located at Ediba Primary Health Centre in Cross River South, MCH Ikom in Cross River Central, and MCH Ogoja in Cross River North.

According to her, the initiative is a deliberate and sustainable response to food insecurity and malnutrition among vulnerable households and aligns with the Renewed Hope Agenda of President Tinubu, particularly in the areas of food security, healthcare and citizens’ welfare.

She urged governors in the South-South zone to establish community food banks in at least three senatorial districts of their respective states, working with the National Primary Health Care Development Agency (NPHCDA) to provide the operational support needed to sustain the programme.

Mrs Tinubu said the nationwide rollout would be completed next week with the launch of the South-East phase in Anambra State.

She said the success of the programme would depend largely on the commitment of state governments to ensure that vulnerable families benefit from it.

Speaking at the launch, the Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, said the programme was critical to Nigeria’s human capital development, stressing that the country could not achieve sustainable prosperity without a well-nourished population.

Pate described nutrition as part of the country’s ‘grey matter infrastructure’, saying investment in the health and nutrition of children and women was as important as investment in physical infrastructure.

He said Nigeria, despite being richly endowed, continued to bear the burden of stunting and undernutrition among children and women.

According to him, the Federal Government’s economic reforms are creating the conditions for national growth, but the gains would not translate into sustainable development unless the country also invested in its people.

He therefore called on all South-South states to replicate the Cross River model and urged local governments to leverage primary healthcare infrastructure to deliver the programme.

Pate said the Federal Government would continue to mobilise resources for the initiative and ensure that vulnerable Nigerians receive both macronutrients and micronutrients.

Governor Bassey Otu said Cross River was prepared to complement the Federal Government’s intervention, noting that the state had already established functional food banks across its three senatorial districts.

Otu said his administration was also addressing the root causes of hunger and poverty through investments in agriculture and food production.

He listed a 50,000-hectare rice farming programme, a 20,000-hectare cassava farm cluster, support for fishermen and artisans, grants to farmers and agribusiness operators, as well as investments in small-holder farmer clusters.

He said the state’s Special Agro-Processing Zone would provide a ready market for farmers, while a proposed ?70 billion public-private partnership investment programme would further strengthen the agricultural sector.

The governor said the food bank initiative would complement the state’s efforts to reduce hunger, improve livelihoods and strengthen food security.

The UNICEF representative at the event, Nemat Hajeebhoy, Chief of Nutrition, UNICEF, Nigeria (Abuja)

commended the Federal Government, Cross River State Government and the First Lady for prioritising food and nutrition security.

Hajeebhoy, who represented the Country Director, Dr Wafaa Saeed, said Cross River was an appropriate state for the South-South launch, having recorded a decline in malnutrition rates over the past five years.

She, however, warned that nutrition indicators remained a concern and called for stronger multi-sectoral coordination involving health, agriculture and social protection sectors.

She also stressed the importance of reliable data in measuring the impact of the programme, noting that interventions must be guided by accurate information.

The UNICEF representative reaffirmed the organisation’s commitment to working with the Federal and state governments, development partners, private sector and communities to ensure that every Nigerian child has access to adequate nutrition.

The need for Nigerians to prioritise strong family institutions in line with the dictates of Allah and His messenger in order to build a prosperous nation has been stressed.

President, Council of Ulama of Nigeria, Sheikh Abdulfatah Thanni, made the assertion at the annual Couples Seminar of the Muslim Congress (TMC), Federal Capital Territory (FCT) and Niger State branches, held at the Conference Hall of the National Mosque, Abuja, last Sunday.

Allah has placed development of sound individuals and peaceful society on the effectiveness of the family institution, making it the responsibility of everyone to ensure that the institution is not allowed to collapse, no matter the circumstances.

He advised couples to adopt the prophetic approach, such as shurah (consultation), effective communication, creating time for each other and respecting the rights of one another in building lasting relationships.

Sheikh Thanni bemoaned the alarming rate of family collapse in the country, asserting that it was the root cause of major problems the society is grappling with.

Another speaker at the event, Dr Sulaiman Ogunmuyiwa, advised couples to avoid the ego of winning every argument at home but rather focus on repairing any lapses which may hinder the continuity of the family institution.

Speaking on the topic, ‘Blanket Forgiveness’, Ogunmuyiwa, who is the Director-General, Lagos State Office of Education Quality Assurance, reminded couples that they were created perfect by Allah, prompting the need to overlook each other’s faults as much as possible.

He harped on the need for husband and wife to constantly draw lessons from the family life of Prophet Muhammad, whom Allah instituted as model for all mankind in all situations.

In his welcome address, the Amir of the Muslim Congress, Alhaji Taiwo Bangbala, listed effective communication, deliberate commitment to the marriage and admitting mistakes as crucial elements of a long-lasting family institution that would impact positively on the society.

He encouraged Nigerians to uphold the pillars of marriage institution, which he described as sacred and ordained by Allah.

The event was witnessed by dignitaries, including Muslim scholars and personalities from the FCT, Niger, as well as neighbouring states.

Former Vice President Atiku Abubakar has welcomed the call by the Independent Petroleum Marketers Association of Nigeria (IPMAN) for government intervention with domestic refiners to reduce petrol prices.

Reacting on Thursday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said IPMAN’s position aligns with the central principle of his proposal to make energy affordable through support for domestic refining.

The statement noted that IPMAN’s intervention is significant because it comes from operators who buy, distribute and sell petroleum products daily and, therefore, have direct experience of the impact of fuel prices on businesses and households.

‘IPMAN has come to the right conclusion. The association is now saying that government cannot simply stand aside while petrol prices affect Nigerians and that deliberate support for domestic refining can help bring prices down,’ the statement said.

Atiku explained the difference between past import-based subsidy regimes and a production-linked intervention aimed at strengthening local refining capacity.

‘My principle is simple: support should follow the barrel. Strengthen Nigerian refining and ensure that the benefit follows that barrel all the way to the Nigerian consumer,’ he said.

‘Nigeria produces crude oil. It is important to maximise processing at home so that Nigerians can benefit from affordable fuel as part of broader economic reforms.’

Atiku said the proposal would also align with the objectives of the Petroleum Industry Act, including promoting petroleum processing within Nigeria and ensuring access to affordable petroleum products.

‘The law itself recognises that local refining and affordability matter. A policy that expands domestic refining capacity while lowering the burden on consumers, therefore, advances the direction of the PIA,’ he stated.

He added that the real test of petrol policy is its impact on household income.

Citing the DailyFuels Fuel Affordability Index, he said the index estimates that the average Nigerian requires about 44 minutes of work to afford one litre of petrol, while a 40-litre tank represents about 29.5 hours of work under its methodology.

‘A teacher does not experience fuel policy through a government spreadsheet. A trader experiences it when transportation costs rise and customers have less to spend. By the time goods reach the market, higher energy costs have added to the price at each stage,’ he said.

According to Atiku, making fuel affordable is a cost-of-living issue because energy costs affect transportation, food, production and distribution.

The former Vice President said IPMAN’s position should be followed by practical collaboration on policy implementation.

‘I therefore invite IPMAN to bring its experience, market knowledge and advisory capacity into the monitoring and implementation of this policy from 2027,’ he said.

‘The people who buy, distribute and sell petroleum products every day know where distortions occur and where good policy can be affected between the refinery gate and the filling station. That knowledge should be put at the service of Nigerians.’

Atiku said his commitment was for any intervention to strengthen domestic refining, expand local capacity, prevent arbitrage, operate transparently and deliver relief at the pump.

He said IPMAN’s position highlights the growing consensus around domestic refining and consumer relief as key elements of petroleum sector policy.

‘So, I welcome IPMAN. Let us prepare together for 2027 – marketers, refiners, regulators, consumers and independent monitors – and build a system where support follows the Nigerian barrel and relief follows that support all the way to the filling station,’ he said.

‘That is the contract we offer Nigerians: local capacity first, transparency first, purchasing power first and affordable energy first.’

Agriculture has traditionally been associated with direct farm ownership and labour. However, many people who want exposure to the agricultural sector would rather avoid the daily demands of checking poultry houses, monitoring irrigation systems or managing delicate seedlings.

Managed or turnkey agricultural investments offer an alternative. The basic model involves an investor providing capital while a third party handles the day-to-day operations, from production and farm management to harvesting and marketing.

This arrangement can make agricultural investment relatively hands-off, but it does not eliminate risk or guarantee returns.

For an urban professional considering such an opportunity, the key questions go beyond projected profits. Investors need to understand what they are buying, who is managing the farm and what happens if the project performs below expectations.

What does ‘turnkey’ agriculture mean?

A turnkey agricultural arrangement allows investors to participate in an operating agricultural project without personally setting up or managing every part of the farm.

Depending on the model, the operator may provide the land, infrastructure, inputs, labour, technical expertise, production management and marketing of the farm’s output.

The investor’s role is primarily financial. This model can appeal to people who have capital but lack the time, technical knowledge or interest required to run a farm.

However, there is an important difference between a professionally managed agricultural business and an investment product promising effortless returns. The former can be a legitimate commercial arrangement, while the latter requires careful scrutiny.

Where does ‘passive income’ come from?

Agricultural income does not become passive simply because an investment is marketed that way.

Income can be relatively hands-off when the investor’s responsibilities are clearly separated from the farm’s daily operations.

For example, an investor could finance a greenhouse project while a professional operator handles cultivation, labour, inputs, harvesting and sales.

If the project generates a surplus and the investment agreement provides for a distribution of proceeds, the investor may receive income without directly managing the farm.

However, the economic risks remain.

Weather, disease, livestock mortality, input costs, market prices, theft, poor management and unexpected expenses can all affect returns. Therefore, claims such as ‘guaranteed harvests’, ‘risk-free farming’ or ‘fixed returns regardless of production’ should be treated with caution.

Verify ownership first

Before transferring funds, investors should establish exactly what they are buying.

Does the investment give them ownership of part of the farm, livestock, crops or agricultural equipment? Is it a leasehold interest, shares in a company, a contractual right to a percentage of farm proceeds or simply a promise of future repayment?

These structures are significantly different.

A glossy brochure showing hectares of farmland does not establish ownership. Investors should request the relevant contracts, corporate records, land documents and other evidence needed to establish their legal and financial interest.

If the arrangement falls within Nigeria’s capital-market regulatory framework, investors should also verify the operator’s regulatory status. The Securities and Exchange Commission provides an online facility for checking registered operators before committing funds.

Evaluate ‘projected yield’

One of the most attractive parts of an agricultural investment proposal is often the projected return. However, a projected yield is only an estimate, not proof of performance.

Rather than focusing solely on potential earnings, investors should examine the operator’s historical records.

Ask for previous production figures, harvest volumes, sales records and verified investor payout history. If an operator has completed five production cycles, its performance across those cycles may provide more useful information than the projected return for the sixth.

Past failures should also be examined.

A credible operator should be able to explain how it handled crop losses, disease outbreaks, falling commodity prices and other setbacks.

Insurance: A non-negotiable requirement

Agricultural businesses face risks that are different from those associated with many other investments.

Crops can be affected by floods, drought, windstorms, pests and disease. Livestock can suffer losses through disease, accidents, fire and other hazards.

The National Agricultural Insurance Commission (NAIC) lists agricultural insurance products covering crops, livestock, farm property and other assets.

However, simply being told that a project is insured is not enough.

Investors should establish who is insured, what risks are covered, the exclusions, the sum insured, who receives claim payments and who bears losses that exceed the insurance coverage.

For livestock insurance, the process can include farm inspection, premium payment and policy issuance. Investors should request a copy of the actual policy rather than relying solely on verbal assurances from an operator.

Assess who bears the risk

One of the most important questions is: Who takes the loss if things go wrong?

If a farm produces 30 per cent less than projected, the investment agreement should make clear who bears the financial impact.

The same applies if market prices collapse, disease destroys a production cycle, the harvest cannot be sold or the management company becomes insolvent.

A professionally structured investment agreement should define these responsibilities before an investor commits funds.

The turnkey agricultural investment checklist

Before committing capital, an urban investor must ensure a precise understanding of the assets owned or the specific contractual rights being

purchased, alongside verified evidence of the operator’s legal identity and regulatory status. This due diligence process includes a thorough review of previous farm performance records and a comprehensive understanding of how returns are calculated, specifically whether they depend on actual harvest volumes or final sales.

Furthermore, examination of relevant insurance policies and specific exclusions, identification of the party bearing production losses, and awareness of withdrawal or exit terms remain essential.

Finally, an understanding of the protocols in place regarding management company failure is required, alongside independent verification of the underlying assets.

If several of these questions cannot be answered clearly, the investment warrants considerably more investigation.

Passive should never mean blind

The attraction of turnkey agriculture is the ability to participate in farming without becoming a full-time farmer.

However, hands-off should never mean uninformed.

Investors may not need to supervise planting, vaccination or harvesting personally, but they still need to monitor the business. Financial statements, production reports, payout history, insurance documents, contracts and operator performance should be reviewed regularly.

The strongest agricultural investment is not necessarily the one promising the highest projected return. It is the one where three fundamental questions have clear answers:

What do I own? Who is responsible for operations? What happens if the business fails?

Agriculture offers significant commercial opportunities, and professionally managed structures can make the sector more accessible to people outside traditional farming.

But ‘passive’ describes the investor’s level of operational involvement. It does not eliminate financial risk or the need for due diligence.

In agriculture, as with every other investment, risk remains. The critical task is understanding who carries that risk.

FAQs

What specific risks does agricultural insurance cover?

Coverage depends on the policy. NAIC lists crop risks including fire, lightning, windstorm, flood, drought, pests and diseases. Livestock policies can cover specified risks such as disease, accidents, fire, lightning, storms and floods. Investors should examine the actual policy rather than assume every agricultural risk is covered.

Do agricultural franchise companies guarantee fixed returns regardless of harvest outcomes?

Investors should not assume that a genuine agricultural business can guarantee returns simply because a fixed percentage appears in its marketing materials. Determine whether payments are contractual, profit-dependent, harvest-dependent or subject to other conditions. Promises of unusually high or guaranteed returns should trigger additional due diligence.

How can an urban investor legally secure ownership in a rural agricultural project?

The answer depends on the investment structure. Investors should receive appropriate contracts and documentation establishing the ownership, lease, shareholding or economic interest being purchased.

Where an arrangement constitutes a regulated investment activity, the operator’s regulatory status should also be independently verified through the appropriate authority. The SEC provides a searchable register of registered operators in Nigeria.

Is agricultural investment really passive income?

It can be relatively hands-off, but it is not inherently passive or guaranteed. The investor delegates day-to-day farming activities to an operator but remains exposed to the commercial performance of the underlying agricultural business.

A useful distinction is passive management, not passive risk.