Category: The Nation – Nigeria

Managing Director, Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has said that the centrality of Abuja coupled with its rich agro-allied potential is germane to strengthening NPA’s commitment to supporting the Federal Government’s efforts to continuously grow non-oil revenue by connecting local value producers in the non-oil value chain to identified international clusters of demand for their goods.

According to him, the position of Abuja as the centre of the country is strategic to the NPA’s renewed trade facilitation focus that places a high premium on port-hinterland connectivity, which Abuja’s centrality accentuates, presents a seamless linkage with the comparative advantages inherent in all regions of the federation that can be harnessed to sustain growth in the volume and value of Nigeria’s exports.

He said NPA, as Nigeria’s foremost trade facilitation platform, is always proud to be associated with the noble cause the Abuja International Trade Fair represents, especially seeing that trade remains the most veritable tool for actualizing most of Nigeria’s economic aspirations.

He used the opportunity of the ‘NPA Special Day’ to invite the entire trading and investing public to explore the tailor-made simplified export processes and other vistas of opportunity present at the Nigerian Ports Authority.’

According to him:’as some of us are aware, in our bid to contribute to the strengthening of the domestic economy through the promotion of balance of trade we established the Export Process Terminal (EPTs) to simplify the hitherto burdensome process of exporting Nigerian goods.’

Dantsoho explained that the EPTs were conceptualised to serve as a one-stop-shop for cargo consolidation, stuffing, documentation, packaging, certification and onward shipment through electronic call-up to the Ports in quick turnaround time thus eliminating the duplications and bureaucratic overlaps that previously rendered Nigerian exports uncompetitive in the international marketplace.

He said to facilitate the port-hinterland connectivity and create pathways for Small and Medium Scale Enterprises (SMEs) to play in the export value chain; the EPTs have been structured to have a seamless handshake with the Domestic Export Warehouses (DEWs) in synergy with the Nigerian Exports Promotion Council (NEPC) as well as the Inland Dry Ports.

‘To align with the economic stabilization resolve of the Federal Government and the theme of the year’s fair ‘Sustainability: Consumption, Incentives and Taxation’ we are unifying our various operational channels into a singular transaction gateway known as the Ports Community System (PCS) which lays the groundwork for the implementation of the National Single Window (NSW) which sustainably eliminates all forms of opacity and attendant delays associated with undue human interference,’ he stated.

Dantsoho added that the NSW is the global best practice for delivering the greatest value with the greatest ease by connecting all stakeholders in the trade value chain for seamless interaction at the push of a button, saying NPA has put measures in place to link value creators in the remotest part of the hinterland with the farthest clusters of demand anywhere on the globe.

He assured the stakeholder that the doors of NPA are always open for partnerships even beyond the trade fair, urging them to visit the NPA’s fully interactive online real time website www.nigerianports.gov.ng to access our growth offerings.

Prince (Dr.) Victor Adekunle Alonge, the Chairman of Willows Project Limited, is a distinguished chartered surveyor, estate valuer, and transformative entrepreneur known for his impactful contributions to the real estate sector. A man of action who prefers substance over verbosity, he epitomizes professionalism and dynamism in his field. As a generous philanthropist, he embodies a refined character enriched by a cosmopolitan worldview, reflecting his extensive travels and diverse experiences.

With a wealth of knowledge in real estate and surveying, Prince Alonge has meticulously honed his expertise, ensuring he leaves no detail overlooked. His remarkable career is a testament to his relentless work ethic and unwavering belief in his vision. Once serving as a non-executive director at Penman Pensions Limited, which has since become AXA Mansard Pension, he has established himself as a prominent figure in Nigeria’s business and property landscape, characterized by his deep insights and extensive experience in the industry.

Currently, he holds the prestigious title of the 26th President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV). In recognition of his exemplary contributions, Prince Alonge is set to be honored with a traditional chieftaincy title, ‘Awokose Omoluabi Oodua,’ by the revered Ooni of Ife, Ooni Adeyeye Enitan Babatunde Ogunwusi CFR Ojaja II. This distinguished ceremony is scheduled to take place on Friday, October 17th, at the Enuwa Palace of the Ooni. The event will also serve as a celebration of Ooni Adeyeye’s 51st birthday, marking not only an important personal milestone but also a significant moment of recognition for his unwavering commitment to excellence and philanthropy.

Sources say; Alonge is not leaving any stone unrolled as he has sent invitation to the who is who in Nigeria who have all confirmed their avalability for the epoch making event. He has also paid for top chefs and also other drink and food vendors to ensure the coronation party is a talk of the town. Senators Olamilekan Adeola Yayi, Senate Leader Opeyemi Bamidele, Senate President Godswill Akpabio among others will be making their way to honour the newest Chief from the Source.

Chief Executive of Versa Farms, Nigeria’s largest tomato farm, Ibrahim Toyeeb, has condemned attacks sweeping in Kwara State, warning that the violence threatens to cripple the economy of Kwara South.

Toyeeb, whose farm is a huge employer of labour, said the killings and mass displacement s ‘painful,’ stressing intervention is needed to protect lives and livelihoods.

His comments followed coordinated assaults on communities in Kwara South and neighbouring areas, including Oke-Ode in Ifelodun Local Government, where scores were killed, injured and others abducted.

‘If action is not taken, Kwara South could be economically dead. Investors will flee, livelihoods vanish, and families will be in ruins.’

The farmer voiced frustration at the inadequate response from key representatives: Senator Oyelola Ashiru, representing Kwara South, and Raheem Tunji Olawuyi, chairman of House Committee on Emergency and Disaster Preparedness.

‘Silence from those elected to protect us is not neutrality, it is, to us, abandonment. Why has this situation not been mentioned boldly on the floor of the National Assembly? Representation without advocacy is no representation at all,’ he declared.

Calling for leadership and immediate action, Toyeeb outlined a series of measures he said could stem the crisis: targeted security deployments, identification of vulnerable points, a joint federal-state security task force, humanitarian assessments and relief for displaced families, a transparent investigation into the attacks, and a published action plan.

He also urged the Kwara State Government and security agencies to sustain recently announced security measures and to prioritize intelligence-driven operations. While welcoming calls for increased military presence, he stressed that any deployment must be paired with local engagement and direct relief for victims.

Beyond the human cost, Toyeeb warned of the devastating economic impact. ‘Insecurity is destroying Kwara South’s investment potential. If farms close and businesses pull out, poverty deepens and the area becomes economically crippled,’ he said.

Versa Farms, which employs hundreds, stands as an example of the region’s potential, Toyeeb added. ‘We are proof of what is possible if safety and stability are assured. This is why I am raising my voice: to protect not just farms, but futures.’

Award-winning singer Tiwa Savage has left fans puzzled after sharing cryptic messages on her Instagram Story.

‘Just because it looks easy doesn’t mean it is. one day the story of the traumas will be reviewed,’ she wrote, followed by, ‘The crown is heavy, Lord help me carry it.’

The posts came at a time when the ‘Queen of Afrobeats’ had been more open about her personal struggles, including heartbreak, leaked content, and emotional scars.

Although Tiwa offered no further explanation, her words have triggered widespread speculation among fans and critics.

However, Tiwa has not released any follow-up statement to clarify the intent behind her posts.

A founding member of the All Progressives Congress (APC), Osita Okechukwu, has criticized former Vice President Atiku Abubakar over his insistence on remaining in the 2027 presidential race, except a younger candidate emerges through a ‘competitive primary.’

Atiku, in a statement by his media adviser, Paul Ibe, on Thursday, dismissed reports that he had offered to step down for younger aspirants under the African Democratic Congress (ADC), describing them as false and mischievous.

He clarified that he would only concede if a younger candidate emerged through a fair contest.

Reacting in Abuja on Friday, Okechukwu, a former Director General of the Voice of Nigeria (VON), described Atiku’s stance as anti-democratic, accusing him of undermining Nigeria’s long-standing zoning and rotation principle, which he said has been the glue holding the Fourth Republic together since 1999.

Okechukwu recalled that Atiku himself benefited from zoning in the past but later campaigned against it, leading to his 2014 Peoples Democratic Party (PDP) primary victory, which had no southern aspirant.

He argued that discarding zoning in favour of ‘dollarised primaries’ amounts to eroding equity, inclusion, and stability.

According to him, Atiku’s position confirms fears that his pursuit of power is not to strengthen democratic institutions but to weaken the very principles that sustain Nigeria’s plural society.

The Impact Investors Foundation (IIF), a platform for unlocking impact capital, has unveiled a blueprint to drive gender equity and social inclusion, aiming to mobilise a cumulative $8 billion in inclusive capital over the next decade.

The ‘Gender Equity and Social Inclusion (GESI) Roadmap 2025-2035’ was officially launched at the third Gender Impact Investment Summit (GIIS) in Lagos, themed ‘Investing in Equity: Advancing Gender-Led Solutions for Inclusive Development.’

Developed in collaboration with PricewaterhouseCoopers (PwC) Nigeria, the 10-year strategic plan seeks to embed inclusive investment practices deeply within the Nigerian economy. The GESI Roadmap sets clear, data-driven targets, including the launch of 40 inclusive financial products for women, youth, and People with Disabilities (PwDs); the integration of GESI principles by 90% of General Partners; and the mobilization of $1.5 billion in domestic capital pools. Furthermore, it aims for the enactment of 20 new policy and regulatory instruments to support this transformative agenda.

The launch introduced the Nigeria Inclusive Capital Commitment 2035 campaign, a call to action designed to galvanize governments, capital providers, and financial intermediaries toward achieving these ambitious goals. ‘This GESI Roadmap is not just a plan; it’s a blueprint for a significant shift in Nigeria’s economy. The scale of the targets underscores our profound commitment to a future where no one is left behind. This incredibly exciting moment sets a powerful, decade-long course to democratize capital and transform our investment landscape for women, youth, and People with Disabilities (PwDs),’ the Chief Executive,the Impact Investors Foundation, Etemore Glover stated. She maintained that the urgency for the initiative is underscored by recent data highlighting significant financing gaps. According to PwC’s Head of ESG, Sustainability and Climate Change, Marilyn Obaisa-Osula,a study found that ‘between 2020 and 2024, only 20 percent of venture capital funding was received by female-led startups in Nigeria.’ She said the GESI Roadmap seeks to directly address this imbalance.

In her keynote address, the Chief Executive, 2X Global, a global industry body for gender lens investing, Jessica Espinoza, cited a World Economic Forum study which noted that ‘advancing women’s employment could add $12 trillion to global gross domestic product (GDP).’ She also referenced research from the Cherie Blair Foundation for Women and Boston Consulting Group, which estimated that global GDP could increase by as much as $5 trillion if women participated in entrepreneurship at the same rate as men. ‘Progress is strategic, not accidental, which is why the GESI roadmap is a critical blueprint for Nigeria’s future,’ Espinoza stressed.

Echoing this sentiment, the Sarkin Kano, His Highness Khalifa Muhammad Sanusi II CON, called for a new national policy to significantly increase the representation of women on boards and in the management of public companies. ‘This will ensure equity and give a voice to redirect policies formation as they affect women,’ he stated, arguing that female underrepresentation ‘hinders progress and limits the nation’s ability to tap into its full potential.’

Chairman of the Impact Investors Foundation, Frank Aigbogun, emphasised the Summit’s transition from advocacy to action. ‘Building on those foundations of policy advocacy and innovative models, we now stand at a crucial turning point.This year’s theme signals our collective resolve to move decisively from aspiration to accountability. Today is truly historic because we are not simply holding another summit; we are launching the Gender Equity and Social Inclusion (GESI) Roadmap,’ he said.

He continued, ‘The targets we have set underscore the urgency of this challenge and the scale of our ambition: we aim to mobilize $8 billion in cumulative gender-inclusive capital, with $1.5 billion coming directly from domestic capital pools, and achieve a 90% integration of GESI principles among general partners. This framework is our commitment to ensure that capital is not exclusive, but truly inclusive.’

In a practical step to drive immediate investment, the summit included a dedicated ‘deal room,’ where investment-ready, women-led and women-owned businesses directly connected with capital providers, including impact investors and fund managers.

The GESI Roadmap was developed with vital support from distinguished institutions and organisations, including PwC Nigeria, GIZ, the Ministry of Women Affairs and Social Development, the Ministry of Youth Development, and the Research and Innovation Systems for Africa (RISA) Fund. The launch reaffirms the Impact Investors Foundation’s dedication to establishing actionable interventions that build a gender-inclusive economy, driving both prosperity and social impact in Nigeria.

Nigeria spent $2.86 billion on external debt servicing in the first eight months of 2025, new figures from the Central Bank of Nigeria (CBN) have shown. This accounted for 69.1 per cent of total foreign payments of $4.14 billion during the period.

Comparatively, the country spent $3.06 billion on debt in the same period of 2024, representing 70.7 per cent of total foreign payments of $4.33 billion. The data revealed that although Nigeria reduced its absolute debt service bill by about $198 million (6.49%) year-on-year, debt repayments still dominate its external obligations.

Essentially, for every $10 that left Nigeria between January and August 2025, nearly $7 went towards servicing debt. Monthly data showed significant fluctuations, reflecting the structure of Nigeria’s loan obligations. In January 2025, the country paid $540.67 million on debt, slightly lower than $560.52 million in January 2024.

By February, payments dropped further to $276.73 million, before surging to $632.36 million in March, more than double the $276.17 million recorded in March 2024. April remained high at $557.79 million compared with $215.20 million a year earlier, while May recorded a sharp fall to $230.92 million, down by $623.45 million from the $854.37 million in May 2024.

In June, the figure climbed modestly to $143.39 million, almost triple the $50.82 million recorded a year earlier. July slipped again to $179.95 million, representing a two-thirds decline compared with the $542.5 million of July 2024. By August, payments recovered to $302.3 million, slightly higher than the $279.95 million recorded a year earlier.

The month-on-month changes in 2025 underline the erratic nature of Nigeria’s debt service obligations. From January to February, payments fell by nearly 49 per cent , then spiked by 129 per cent in March before dropping by 12 per cent in April. May saw a steep decline of 59 per cent relative to April, June fell further by 38 per cent before mild rebounds in July and August.

In 2025, 69.1 per cent of all foreign outflows in the first eight months were used to service debt. In the same period of 2024, the share was even higher at 70.7 per cent . This showed that debt service obligations consistently consume at least seven out of every ten dollars Nigeria spends on international payments.

This trend raises important concerns. First, it places pressure on the country’s foreign reserves, especially in months of heavy outflows such as March 2025, when $632.36 million went to debt servicing. Second, it reduces Nigeria’s ability to allocate scarce foreign exchange to essential imports and capital goods that could support domestic production. Third, it exposes fiscal vulnerability because debt obligations are non-discretionary, meaning the government cannot defer or avoid them without severe consequences.

Glovo has reaffirmed its commitment to empowering Small and Medium enterprises in Nigeria with the new edition of Glovo Academy in Abuja.

Glovo Academy is an in-person learning and development initiative designed to provide training and digital tools to help local businesses optimise operations, boost their brand, and increase online sales through the Glovo platform.

In this Glovo Academy edition, the Head of Growth, Glovo Nigeria, Reni Onafeko, noted that the company remains committed to empowering SMEs on its platform by offering access to opportunities such as advisory and finance. She explained that with the million of orders delivered since the launch of Glovo in 2022 in Abuja, over N11 billion in value has been delivered to partners.

According to her, the company has recorded 30% increase year-on-year in orders in Abuja, working now with over 1,000 local restaurants. She emphasised the need for SMEs to embrace digital literacy to enable their businesses to expand, formalise their operations, and scale sustainably.

Speaking during the panel session, the Special Adviser to the Minister of State for Industry, Ifeoma Williams, stressed that MSMEs remain the backbone of any economy, noting that current data from the National Bureau of Statistics revealed that 40% of Nigeria’s Gross Domestic Product is derived from these small businesses.

While bemoaning poor access to loan facilities from the federal government for many SMEs, she attributed the challenge to a lack of proper structure and the right business plan. She stated that the federal government is doing a lot to provide the right policies for thriving businesses.

Making his contribution, the founder of Ahmad’s Sharwarma, Tijani Mustapha, who delved into the operational challenges confronting SMEs, stated that business owners must have staying power or resilience to overcome the challenges of human resources and quality control.

Mustapha underscored the need for SMEs to invest in technology to stay competitive and grow their businesses.

‘Any business we do today must embrace technology. Through technology, we can gather customer feedback, keep the business in check, and improve,’ he said.

Also speaking at the session, Kayode Meyanbe, Head of ICT, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, stated that through the agency, the federal government is leveraging a partnership with the Corporate Affairs Commission to provide free registration for 250,000 businesses.

Kayode urged SMEs to take advantage of the opportunity to formalize their operations and access the opportunities provided.

‘As an agency, we have partnered with banks to provide loans at an interest rate below 10% to support their businesses. Not only that, state governments have also been helping us with funds for these SMEs to access our loan facilities. Beyond that, we have also engaged BDSPs to provide capacity training on how to run businesses for SMEs. We do this through Kaduna Business School and Lagos Business School to dispense need-based skills and curriculum to SMEs,’ he said.

In his remarks, Head of Commercial at Glovo , Nigeria, Kolawole Adeniyi, disclosed that the platform, which registered its presence in 2021 in Africa, has invested 206 million euros in the African continents.

According to Adeniyi, the platform has impacted businesses, with 90% belonging to the SMEs category, and offers N55 billion in direct economic value generated for partners.

At the event, presentations and sessions were held for partners to educate them about the company’s operations and capacity training. The training session and presentation focused on operational excellence, marketing, addressing customer complaints, and capacity-building training on business and financial literacy or management facilitated by the Enterprise Development Centre, Pan Atlantic University.

The Labour Writers’ Association of Nigeria (LAWAN) will hold its yearly conference on October 10 at Golden Tulip, Ibadan.

The event’s theme is: ‘Future of work in the era of Artificial Intelligence: A wake-up call for stakeholders’.

In a statement, the association’s Chairman, Toba Agboola and Secretary, Adenike Ajiboye, said the programme is aimed at achieving a plan for securing mutual accountability and investment plans, which is crucial for Nigeria’s growth and development.

According to the chairman, the event will bring together technocrats and speakers from various sectors.The duo stated that the speakers would discuss various topics such as ‘Employers’ Preparation and Response to the AI Revolution in the workplace’; ‘Job security and the future of trade unions in the AI Era’, and also ‘Social security and protection for journalists amid AI disruption’, among others.

Expected at the event are the President, Nigeria Labour Congress (NLC), Joe Ajaero, and his Trade Union Congress (TUC) counterpart, Festus Osifo; Managing Director, Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, and Director-General, National Pension Commission (PenCom), Omolola Oloworaran, among others.

The conference is expected to be chaired by the General Secretary, Non-Academic Staff Union of Education and Associated Institutions (NASU), Peters Adeyemi.

Dr. Habeeb Olalekan Okunola MON, OFR is a prominent figure in Nigeria’s business landscape, known for his extensive experience and remarkable achievements. As the President of CINI Holdings, he has demonstrated exceptional leadership and business acumen, traits that have been evident since his formative years. Dr. Okunola embodies the principle that opportunity meets preparedness; he skillfully navigated the complexities of the business world, achieving significant milestones early in his career.

Affectionately referred to as the Akosin of Yoruba Land, he is not only recognized for his professional successes but also for his commitment to philanthropy. Dr. Okunola is a generous benefactor, known for his willingness to offer financial support to those in need, embodying the spirit of giving. He detests the sight of anyone suffering and consistently goes out of his way to bring joy to the less fortunate. This passion for uplifting others led him to establish the Habeeb Okunola Foundation, a non-profit NGO dedicated to fostering educational development, empowering women, enhancing health welfare, and providing various forms of assistance to those in distress.

Despite holding an undergraduate degree in Philosophy from the University of Lagos, Dr. Okunola has never confined himself to traditional academic pursuits. While many of his contemporaries pursued more superficial interests, he chose to deepen his knowledge base and expand his skill set. In 2020, he attended Harvard Business School, where he completed a course in Leading Global Business, equipping himself with strategic insights applicable to a global marketplace. More recently, earlier this year, he furthered his education at the Wharton Aresty Institute of Executive Education at the University of Pennsylvania, reinforcing his commitment to continuous learning and professional development.

This combination of leadership, philanthropy, and ongoing education illustrates Dr. Okunola’s dedication not only to his own success but also to the betterment of society as a whole.