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In its 2025 study of more than 1,250 companies, BCG classified only 5 percent as ‘future-built’ organisations creating AI value at scale. Another 35 percent were beginning to generate value, while 60 percent reported little material return despite substantial investment. BCG’s distinction is instructive for boards: access to AI does not, by itself, create the organisational capability to benefit from it.

Yet boardroom conversations often separate the elements on which that capability depends. An AI strategy discussion presents opportunities for growth and efficiency. A risk discussion considers potential harm. Questions about whether the organisation can implement and sustain the proposed use may arrive later. By then, enthusiasm for the opportunity may have hardened into an investment expectation.

Boards need to consider these questions together. AI value is created when organisational readiness is sufficient to convert opportunity into results, govern the accompanying exposure and produce evidence that the trade-off remains defensible.

Opportunity identifies what AI could deliver. Readiness determines whether the organisation can convert that potential into results. Exposure indicates where and to what extent the organisation may become vulnerable in pursuing that value. It is not the whole of risk but one dimension of the board’s wider risk judgement. Defensibility connects all three by requiring the organisation to explain its choices, justify its assumptions, demonstrate control and respond when conditions change.

This begins with a more demanding account of value. A successful pilot, faster processing or widespread employee use may indicate progress. The board still needs to understand whether the benefit persists once the organisation accounts for integration, human review, errors, remediation, vendor dependence and the consequences for customers or employees. An AI system can save time in one function while transferring cost, uncertainty or diminished decision quality elsewhere.

Readiness is equally specific. An organisation may be well equipped to use AI to help staff find internal information but less prepared to rely on it in lending, healthcare or decisions affecting access to essential services. Each use places different demands on data, expertise, accountability and oversight. The board should therefore resist broad assurances that the enterprise is ‘AI-ready.’ The relevant question is whether it is ready for this use, at this scale, with these consequences.

Exposure should be considered with the same precision. Pursuing value may increase reliance on a vendor, alter how employees exercise judgement or affect people who cannot easily challenge a decision. Such exposure does not automatically make an opportunity unacceptable. It does require management to show what the organisation is accepting, why the expected benefit warrants it and how that judgement fits its wider risk appetite.

This is why governance belongs inside the value discussion. Clear accountability, credible evidence, independent challenge and continuing oversight help management identify which uses deserve investment and which can be scaled responsibly. They also protect the organisation’s ability to justify continued use. A valuable system whose outcomes cannot be adequately examined or challenged may ultimately become a system the organisation cannot confidently rely on.

Readiness must also include the institutional capacity to revisit enterprise judgement. Support for an AI investment should not harden into an irreversible strategic commitment simply because capital, reputation or executive sponsorship has already been invested. The board should expect management to articulate the conditions under which the organisation would scale, constrain, redesign or discontinue a material AI use and to provide evidence that the assumptions supporting continued investment remain valid. An initiative that was defensible when introduced may cease to be so as its scale, strategic importance, stakeholder impact or operating environment changes.

Management owns the work of selecting use cases, developing capability, operating controls and measuring results. The board owns the quality of the enterprise judgement brought to bear on material commitments. It should expect opportunity, readiness and exposure to be presented as one decision, with evidence strong enough to support both investment and reconsideration.

AI’s promise is substantial. Capturing it will depend less on how many opportunities an organisation identifies than on its capacity to realise value, understand what it is exposed to and change course when the evidence demands it. That is the organisational capability at the heart of Defensible AI.

Amaka Ibeji is a Boardroom Certified Qualified Technology Expert and a Digital Trust Visionary. She is the founder of PALS Hub, a digital trust and assurance company, Amaka coaches and consults with individuals and companies navigating careers or practices in privacy and AI governance. Connect with her on linkedin: amakai or email amaka@palshub.net

The African Development Bank will launch an initiative to help African countries improve their credit ratings by strengthening data, transparency and the systems used to assess their economies, its president Sidi Ould Tah said.

Tah said weak data and limited market information were contributing to perceptions of higher risk in African economies, increasing the cost of borrowing for governments across the continent.

‘What is missed in Africa is the data and the infrastructure… the opacity in some markets creates this notion of high risk, which leads to high cost of borrowing,’ Tah said at the S and P emerging markets conference in London on Thursday.

African governments have long argued that the continent faces disproportionately high borrowing costs, while the major international ratings agencies maintain that they apply the same rating methodology across markets.

Under the planned initiative, the AfDB will work through its African Legal Support Facility to help countries prepare for credit ratings by improving the quality of economic data and increasing transparency, Tah said.

He said improving sovereign credit ratings was a shared priority across Africa, with only three of the continent’s 54 countries currently classified as investment grade.

The initiative comes as African institutions pursue other efforts to address the cost of financing. The African Peer Review Mechanism, an African Union backed initiative, plans to launch a continent wide ratings agency this month, also with the aim of addressing concerns over high borrowing costs.

Tah said the AfDB was also working to deepen local financing across Africa by supporting the development of stronger domestic capital markets and increasing the mobilisation of local savings.

The bank has held discussions with pension funds, banks and other stakeholders to identify barriers to developing domestic financial markets and increasing the use of local resources for investment.

For African governments, improving the quality of economic information and strengthening domestic financial systems could help address some of the factors that investors and ratings agencies consider when assessing sovereign risk.

Pharmaceutical manufacturers have appealed to the Federal Government to extend the Executive Order supporting local pharmaceutical production by another two years, saying policy continuity is needed to sustain investments and strengthen Nigeria’s medicine security.

President Bola Tinubu signed the Executive Order in 2024 for a two-year period. The order introduced zero tariffs, excise duties and VAT on specified pharmaceutical inputs, machinery and other healthcare products to support local manufacturing.

Oluwatosin Jolayemi, chairman of the Pharmaceutical Manufacturers Group of the Manufacturers Association of Nigeria (PMGMAN), said the current policy window should be extended to enable manufacturers to deepen investments, expand production capacity and consolidate gains recorded in the sector.

Jolayemi made the appeal at the 8th Nigeria Pharmaceutical Manufacturers Expo (NPME) 2026 in Lagos, where manufacturers, regulators, investors, policymakers and development partners called for sustained policies and reforms to position Nigeria as a regional pharmaceutical manufacturing hub.

He said the Nigerian pharmaceutical manufacturing sector was undergoing significant transformation, noting that PMGMAN now represents more than 200 local pharmaceutical manufacturing companies.

According to him, the gains recorded by the industry must be protected through policy consistency and a predictable investment environment, particularly as manufacturers continue to contend with high energy and production costs, supply-chain challenges, port inefficiencies, limited access to long-term capital and market-access constraints.

He said Nigeria’s ambition to become a regional pharmaceutical manufacturing hub must be anchored on a competitive, scalable and resilient domestic manufacturing ecosystem.

Jolayemi called for coordinated action among government, regulators, manufacturers, financiers and development partners to address structural barriers and move the sector beyond domestic production towards a globally competitive and regionally integrated manufacturing ecosystem.

Declaring the expo open, Iziaq Salako, Minister of State for Health and Social Welfare, reaffirmed the Federal Government’s commitment to expanding domestic pharmaceutical manufacturing as a pathway to medicine security, healthcare resilience and economic development.

Salako stressed the need to strengthen capacity across the pharmaceutical value chain, covering research and development, innovation, sourcing of active pharmaceutical ingredients and excipients, formulation, manufacturing and quality assurance.

He also called for increased investment in sophisticated areas of pharmaceutical production, including biologics, vaccines and other critical health technologies, while urging stronger regional cooperation to address regulatory barriers limiting access to African markets.

John Enoh, Minister of State for Industry, Trade and Investment, represented by the Director of Chemical and Non-Pharmaceutical Industry, John Oluwa, said the Federal Government was committed to moving Nigeria from an import-dependent market towards greater self-sufficiency under the Renewed Hope Agenda.

Enoh said the government was targeting 70 percent domestic production of essential medicines while developing a resilient ecosystem capable of meeting the country’s medical needs.

He said increased domestic manufacturing capacity would provide a foundation for expanding Nigeria’s pharmaceutical exports into West Africa and the wider African market through the African Continental Free Trade Area (AfCFTA).

The minister listed proposed interventions to support the target, including expanded tax exemptions, tariff waivers on raw materials and machinery, incentives for backward integration in the production of active pharmaceutical ingredients and excipients, as well as dedicated pharmaceutical intervention funds.

He added that the government was working with regulatory agencies, including the Standards Organisation of Nigeria and NAFDAC, to ensure that locally manufactured pharmaceutical products meet international standards and become more competitive in export markets.

Mojisola Adeyeye, Director-General of NAFDAC, disclosed that 37 local manufacturing facilities were undergoing retrofitting and construction upgrades to meet international standards.

She said Nigeria could not afford to reverse the gains recorded in local pharmaceutical manufacturing and urged the country to intensify efforts towards the production of vaccines and other critical health commodities.

At the continental level, Delese Darko, Director-General of the African Medicines Agency, called for stronger regulatory cooperation among African countries to accelerate access to quality-assured medicines and create a more integrated pharmaceutical market.

The Presidency has commended PromiseLand Innovation for launching ProTaxi in Abuja with plans to deploy 1,000 electric vehicles (EVs) as part of efforts to promote modern and affordable transportation in Nigeria.

Adetokunbo Ade-John, Senior Special Assistant to the President on Transportation and Mobility, gave the commendation at the official launch of ProTaxi in Abuja on Thursday.

Ade-John said the initiative was consistent with President Bola Tinubu’s vision for transforming Nigeria’s transportation and mobility sector through innovative solutions.

He commended Emmanuel Oloche, Chief Executive Officer of PromiseLand Innovation, for introducing the platform, describing the initiative as a bold step towards advancing transportation and mobility in the country.

‘I commend the CEO of PromiseLand Innovation for taking this bold step in advancing transportation and mobility in Nigeria.

‘This is in line with the President’s vision for transportation and mobility. We need more innovative solutions that can provide Nigerians with efficient and affordable transportation’, Ade-John said.

He urged the company to sustain the initiative and expand its operations beyond Abuja to other parts of the country.

‘We encourage PromiseLand Innovation to sustain this initiative and expand it to other parts of the country.

‘What we are witnessing today demonstrates what can be achieved when innovation and government policy work together’, he said.

ProTaxi, which has commenced operations in Abuja, is designed to provide commuters with an electric-powered transportation option while creating income-generating opportunities for drivers and their families.

The platform is an initiative of PromiseLand Innovation, which says its objective is to use innovation and technology to create economic opportunities and help move ordinary people from poverty to prosperity.

PromiseLand Innovation had earlier announced plans to onboard and empower 1,000 drivers with electric vehicles, with the programme expected to provide drivers with opportunities to earn income and support their families.

Oloche said the concept behind ProTaxi was rooted in the organisation’s broader vision of using innovation and technology to transform people’s livelihoods.

He said PromiseLand Innovation was established around the belief that people’s circumstances should not determine their future, arguing that access to the right tools, opportunities and environment could help transform lives.

‘That question is at the heart of why PromiseLand Innovation was born.

‘We believe that circumstances should not determine destiny.

‘We believe that when you give people the right tools, the right opportunities, and the right environment, their lives could be transformed.

‘Today, we introduce a ProTaxi that is not just another e-hailing application. It is a platform that creates opportunity and changes destiny,’ Oloche said.

He said the economic impact of the platform would extend beyond individual drivers, noting that every driver had a family whose livelihood could be supported by the income generated through the service.

‘Every time a passenger takes a ProTaxi ride, there is a driver behind the wheel.

‘And behind the wheel, you have a driver with a family,’ Oloche said.

According to him, income earned by drivers through the platform could help families meet basic needs, including payment of children’s school fees and house rent.

‘That is to say, for every ride that is booked, a child’s school fee is paid. House rent is paid.

‘And a dream is fulfilled for a better future to be built.

‘We believe that when we create opportunities for thousands of drivers, we are not watching families, but we are reshaping communities,’ he said.

Also speaking, Gift Emmanuel, Executive Director, PromiseLand Estate, said the initiative was driven by a vision to support ordinary Nigerians through the creation of economic opportunities.

She said the company had commenced operations in Abuja and was planning to expand its services to other states.

‘The vision is to help the masses. And, at least, he’s here in Abuja now, and we are moving to other states to help other people too,’ she said.

The Nigeria Police Force have arraigned a 31-year-old woman, Funke Femiloba, before a Lagos Magistrate Court for allegedly impersonating a staff member of OPay Digital Services Limited and obtaining money from members of the public under false pretence.

Femiloba was arraigned on September 24, 2026, on a four-count charge, marked MIK/P/53/26, bordering on conspiracy, impersonation, conduct likely to cause a breach of peace and obtaining money by false pretence.

Following her arraignment, the court remanded her in the custody of the Nigerian Correctional Service and adjourned the case until November 30, 2026, for hearing.

According to the charge, the defendant allegedly conspired with other persons who are still at large in September 2026 in Ikeja, Lagos, to obtain money from members of the public by false pretence.

The police alleged in the second count that Femiloba falsely presented herself as a representative of OPay Digital Services Limited, an act punishable under Section 78 of the Criminal Laws of Lagos State 2015.

The third count accused her of conducting herself in a manner likely to cause a breach of peace by misleading members of the public, contrary to Section 168(d) of the same law.

In the fourth count, the police alleged that Femiloba obtained a specific sum of money from a member of the public under false pretence. The offence was brought under Section 313 and punishable under Section 314 of the Criminal Laws of Lagos State 2015.

The first count of conspiracy was filed under Section 411 of the Criminal Laws of Lagos State 2015.

The allegations have not been proven in court.

In November, the Nigerian culinary landscape will welcome a special visitor, who is coming to spice the country’s hospitality industry with her creative gastronomic ingenuity.

Of course, the visit is a highly anticipated one across the industry because of the calibre of the visitor and her team.

She is no other person than Adejoké ‘Joké’ Bakare, a Michelin-starred Nigerian chef in the United Kingdom and chef-owner of Chishuru, a Michelin-starred modern West African restaurant in Fitzrovia, London.

Apart from being Michelin-starred, the culinary expert, who is professionally known as Chef Joké, has so much going for her and many first-time feats in the global culinary space.

Chef Joké holds a remarkable place in culinary history as the first Black female chef in the UK to be awarded a Michelin star; she is currently the only Black female chef in the world still running her Michelin-starred restaurant and also the first Nigerian-born, West African chef to be Michelin-starred.

She was named Chef of the Year at the National Restaurant Awards in 2024, included in the Financial Times’ 25 Most Influential Women of 2024, and named in British Vogue’s 2025 List of Women Defining Britain.

Yet, Chishuru, her African-themed restaurant, which opened in Brixton in September 2020 and expanded to its permanent location in Fitzrovia in September 2023, enjoys strong critical acclaim till date, amid accolades including: Time Out’s Best Restaurant in London in 2022, becoming a Michelin star restaurant in February 2024, among others.

With above intimidating feats in the global culinary space and a successful career that spans over 25 years, Chef Joké’s visit to Nigeria this November is truly highly anticipated.

From November 4-7, 2026, the chef will run a special culinary residency at Lagos Continental Hotel, Kofo Abayomi, Victoria Island, Lagos, where she will bring Chishuru, her acclaimed London restaurant to Lagos diners.

She will delight palates with her six-course menu, which is specially crafted for Lagos. The specialty of the menu is the fact that it will draw on local produce; the Yoruba, Igbo and Hausa food cultures that shaped Chef Joké.

Also, while here, Bakare and Chishuru’s senior team will not try to recreate the Fitzrovia restaurant in Nigeria. In response to the ingredients, energy and food culture of Lagos, the chef and her team will develop a menu specifically for Lagos.

Speaking at a press launch of the menu, which was part of the pre-event engagements at Milano Restaurant, Lagos Continental Hotel on September 23, 2026, Chef Joke, expressed her excitement on the visit and culinary residency at the hotel.

According to her, the residency will offer four exclusive dinners, while her specially crafted six-course menu will make extensive use of produce sourced in Lagos.

It will draw on the Yoruba, Igbo and Hausa cultures and influences that shaped her childhood, alongside the technique and perspective she has developed during more than 25 years in London.

Offering more details, she noted that the menu will be served from 7.30pm daily for the four days and will be priced at US$300 per person.

‘I love Lagos and I love West African art,’ Chef Joké said in expression of her excitement to be home once again.

‘To cook here during one of the most creative weeks in the city’s calendar is incredibly special. Chishuru was shaped by the food cultures I grew up with and by the chef I became in London. This residency brings those parts of my story together.

‘I want to cook with what Lagos gives us now, create dishes that belong to this moment and hear directly from the people eating them.’

Apart from the food, drinks menu will also be created for the residency including; Chishuru’s Spiced Okra Martini, made with vodka, jalapeño and verjus, alongside Pedro’s Ògógóró, a spirit distilled in Lagos from palm sap. As well, Matt Paice, co-owner of Chishuru, will select wines to accompany the menu.

Also, she explained how she derived the name of the restaurant saying, ‘Chishuru is named after a Hausa phrase that translates literally as ‘eat silently’ or, more poetically, the silence that falls over the table when the food arrives’.

It reflects the cultures that formed Chef Joké. ‘I was born by a Yoruba father, and an Igbo mother. Then, my upbringing with Hausa culture in northern Nigeria, shaped me,’ she confessed.

She recalled moving to the UK in the late 1990s and did not work professionally in food until 2019, when she won a three-month restaurant residency in Brixton Village. That successful residency boosted the opening of Chishuru in Brixton in September 2020, but a much later partnership with Matt Paice, a restaurateur, saw the expansion and relocation of Chishuru restaurant to its permanent location at Fitzrovia in 2023.

However, the entire management and team at Continental Hotels Nigeria, particularly Lagos Continental Hotel, are more than excited to welcome and host Chef Joké.

Expressing the excitement, Christoph Schleissing, general manager, Lagos Continental Hotel, said: ‘We are filled with pride to welcome Michelin-starred celebrity chef Joké Bakare and the Chishuru team to Lagos Continental for this extraordinary culinary residency’.

According to Schleissing, welcoming the chef back to Lagos, a city so deeply woven into her story, is particularly meaningful considering that Chef Joké holds a remarkable place in culinary history as the first Black female chef in the UK to be awarded a Michelin star, and is currently the only Black female chef in the world still running her Michelin-starred restaurant.

The general manager further explained that the residency would be a truly special moment for Lagos judging by Chef Joké’s remarkable journey, creative vision and distinctive interpretation of West African cuisine, which have earned international acclaim.

‘For us at Lagos Continental, it is a privilege to provide the setting for this exceptional culinary homecoming and to offer our guests the opportunity to experience the artistry of Nigeria’s most celebrated culinary voice.

‘This residency is more than a dining experience; it is a celebration of Nigerian creativity, heritage and contemporary gastronomy, brought to life through exceptional cuisine, refined hospitality and the unmistakable spirit of Lagos,’ the general manager said.

Meanwhile, the residency will be held at a moment when Lagos will be welcoming artists, galleries, collectors and cultural leaders for ART X Lagos week.

The Bayelsa State Chapter of the Peoples Democratic Party (PDP) has described the lavish celebration of the State’s 30th anniversary amid prevailing hunger, poverty and unemployment, as a shameful display of insensitivity to the plight of ordinary Bayelsans.

The party noted in a statement issued late on Wednesday that ‘While the government rolls out elaborate anniversary festivities, many citizens continue to grapple with severe economic hardship and limited opportunities.’

Bayelsa State began activities to mark its 30 years of statehood on Sunday with a thanksgiving service with the celebration culminating on Thursday with a State dinner and awards to deserving individuals.

But, the PDP contended that rather than holding the lavish anniversary celebration, the state ought to have deployed financial resources to address hunger in the face of prevailing economic hardship.

In the statement signed by Ikaebimo Mark, State Publicity Secretary of PDP, the party said that the Tower Hotel, which has remained uncompleted after 22 years since its commencement, is a monument of disgrace and ridicule to the state.

‘The Bayelsa Tower Hotel, which has hung over the heart of Yenagoa for 22 years despite the enormous public resources committed to it, has become a monument of disgrace and ridicule to our dear state’, the party said.

PDP said that its continued neglect and the abandonment of several other projects under the present administration amidst the lavish anniversary celebration, is disturbing, reckless and misplaced priority.

‘The continued neglect of this and several other abandoned projects under the present administration, while huge sums of the state’s commonwealth are expended on lavish celebrations, is a disturbing indication of misplaced priorities and reckless disregard for the prevailing economic hardship confronting Bayelsans,’ PDP stated.

According to the party, Bayelsa ought to be celebrating accountability, completed projects, jobs, economic opportunities and a priority for the welfare of the ordinary people.

It said: ‘At 30, Bayelsa deserves more than pomp and pageantry; it deserves accountability, completed projects, jobs, economic opportunities and a government that prioritises the welfare of its people.’

The PDP therefore called on the State Government to reflect on the real condition of Bayelsans and redirect public resources and attention from extravagant celebrations towards addressing the pressing needs of the people.

Access to capital, business support and mentorship is a critical factor in helping Nigeria’s growing pool of entrepreneurs move from ideas to sustainable businesses, as seed grants were awarded at the second Next Frontier Conference (NFC 2.0) giving early-stage startups funding to expand operations and reach more customers.

This practical support offered to early-stage founders was central to the vision of the conference, designed to move beyond discussions and create direct connections between entrepreneurs, capital and expertise.

Ann Tame, founder of Washup Weekly, a laundry pickup and delivery platform,won the business pitch competition with N700,000 as part of a N1 million seed grant, sponsored by Masterpiece Energies Limited.

Other emerging founders were awarded grants during the conference, which was convened by Chigbo Okeke, founder and lead consultant of Jobrole Consulting Limited, under the theme ‘Beyond Boundaries: Building the Future’.

The event brought together over 300 entrepreneurs, founders, professionals, investors and business leaders creating a platform for participants to connect talent, ideas, capital and opportunities for business growth, with conversations also on Nigeria’s changing employment landscape.

According to Okeke, solutions must move beyond economic dialogue to immediate capital, mentorship, and operational strategies for early-stage ventures.’We needed to go beyond conversations and create a platform where ideas, talent, capital and opportunity can meet to reflect our belief that the next generation of Nigerian businesses will be built by people willing to challenge conventional thinking, develop relevant skills, embrace technology and build across boundaries’, he said.

For Tame, the business emerged from an opportunity she and her co-founder identified in the growing on-demand services market, where platforms such as Chowdeck and Bolt had already demonstrated the potential of app-based convenience services.

‘My co-founder and I saw a gap in the laundry space with the existence of apps like Chowdeck and Bolt, but not necessarily anything for laundry. So our solution is that now, every week, you don’t have to think about washing your clothes. You just put the clothes in a bag, we come and pick it up, launder and bring it back, and you only have to pay once a month via a monthly subscription,’ she said.

With the new funding, Tame said the immediate focus would be on strengthening the business’s capacity to serve more customers and expand its reach.

‘The grant will help us get more machines so we can increase our operational capacity and marketing to get more users,’ she said.

Asides the winner, Adelani Adeyinka Adelaja, founder of DelayFree, a courier delivery aggregator and delivery cost comparison platform emerged as second runner-up with a grant of N300,000 to expand his customer acquisition efforts.

Other finalists who pitched high-potential ventures included Future Ahiate of Cafers, Buhari Salisu of Vision Link AI, and Yusuf Oladejo of DSGlobal Elevare.

Providing guidance and mentorship

The conference further provided emerging founders with access to experienced business leaders through a speed mentoring session, reinforcing the importance of guidance, networks and institutional support in shortening the learning curve for entrepreneurs.

Discussions focused on practical strategies for building sustainable businesses, developing relevant skills, leveraging technology and accessing capital in Nigeria’s changing economic environment.

Adora Ikwuemesi, PhD, founder and director of Kendor Consulting, said the country was moving towards a skills economy where earning capacity increasingly depends on specialised knowledge and the ability to solve specific problems.

‘We are in a skills economy, not in the job market. A good part of work and earning a living comes directly from your skill set, knowledge and ability to solve specific problems.

The conference also examined the challenges confronting early-stage businesses, including premature expansion, weak financial controls, inadequate customer validation and poor risk management.

Sola Oladunjoye, CEO of Aigle Limited, urged entrepreneurs to master their core business before expanding into new verticals, noting that sustainable growth requires operational discipline.

Technology was another major focus, with business and technology experts demonstrating how artificial intelligence can help small businesses automate repetitive processes, improve productivity and reduce operating costs.

Oludaisi Joseph, CEO of Kapacity Innovative Concepts, described AI as an amplifier of human expertise rather than a substitute for critical thinking, while Nigel Newman, co-founder and managing director of Big Five Assessment, highlighted the financial benefits his organisation had achieved through practical AI adoption.

For Okeke, the objective is ultimately to help build a generation of Nigerian businesses and professionals equipped to create value, compete effectively and contribute to the country’s economic future.

The conference aims to evolve beyond an annual event into a platform that continuously connects eeearly-stage startups grants, mentors and opportunities.

The Federal Government of Nigeria is working on a policy to reduce the share of income spend on rent, with the housing minister saying employees should no longer have to commit 40 to 60 percent of their salaries to housing.

Muttaqha Rabe Darma, minister of Housing and Urban Development, disclosed this in Abuja, linking the housing burden to the government’s broader efforts to address corruption, arguing that financial pressure on workers could encourage some to seek alternative sources of income.

He said workers who spend a large portion of their legitimate earnings on rent are left with insufficient income to meet other essential needs, including food, children’s education and healthcare.

‘One important dimension is that people with families, if they tend to spend their own income, their own legitimate income on rent, then they will have to source other means of getting some money to do other things to take care of their families, their schooling, and the rest. And that is an impetus to corruption,’ Darma said.

‘We are going to ensure that in this country, workers do not spend 40 to 60 per cent of their income on rent. We are going to ensure that that is done,’ he added.

The minister said reducing the cost of housing is central to improving workers’ welfare while addressing Nigeria’s housing deficit.

According to Darma, about 110 million Nigerians are currently unhoused, while the country requires about 16 million additional housing units to bridge the housing gap.

FG targets abandoned housing units

As part of efforts to expand access to affordable housing, the ministry has identified nearly 250,000 abandoned housing units across the country, some of which date back to the administration of former President Olusegun Obasanjo.

Darma said the ministry is engaging state governors on taking over the abandoned estates, renovating them and allocating the completed units to civil servants as affordable housing.

‘If state governments could take over the 250,000 units within the next few months and allocate them to civil servants, it would represent significant progress,’ he said.

The Military Pensions Board (MPB) has announced the implementation of newly approved pension rates for military pensioners, following the adjustment arising from the new National Minimum Wage. The Board also said it had processed the applicable arrears arising from the adjustment, with payments scheduled to reflect in the bank accounts of eligible military pensioners from Friday, October 2, 2026.

The development was contained in a statement issued on Friday by Aliyu Mohammed, Squadron Leader and Public Relations Officer of the Military Pensions Board.

According to the Board, the implementation of the revised pension rates has now been completed, while the corresponding arrears have also been processed for payment.

‘The Military Pensions Board (MPB) is pleased to inform all military pensioners that the implementation of the newly approved pension rates, following the adjustment arising from the new Minimum Wage, has been effected.

‘The applicable arrears have also been processed and would be paid to all pensioners account effective today (2nd October, 2026)’, the statement said.

The Board did not disclose the specific new pension rates or the aggregate amount of arrears to be paid to pensioners in the statement.

The MPB expressed appreciation to military pensioners for their patience, understanding and cooperation throughout the implementation process.

‘The Board appreciates the patience, understanding and cooperation demonstrated by military pensioners throughout the implementation process,’ it said.

The Board further reaffirmed its commitment to ensuring timely payment of pensions and improving pension administration for retired military personnel.

‘The Board remains committed to the timely payment of pensions and the continuous improvement of pension administration in recognition of the invaluable service and sacrifices of Nigeria’s military veterans,’ the statement added.

The announcement comes after scores of retired military personnel protested in Abuja in August 2026 over the alleged non-implementation of consequential adjustments to their pensions following salary increases approved for serving military personnel.

The pensioners gathered at an open field in Area 10, Garki, near the Ministry of Defence, carrying placards with various inscriptions urging the Federal Government to implement outstanding salary adjustments in their pensions.

The protest triggered the deployment of security personnel, including soldiers, police and operatives of the Nigeria Security and Civil Defence Corps (NSCDC), around the Ministry of Defence and Armed Forces Complex in Abuja.

Armoured personnel carriers were also stationed at the Ship House, Ministry of Defence, and the Armed Forces Complex as security agencies moved to prevent a breakdown of law and order.

The pensioners, however, were prevented from accessing the Ministry of Defence headquarters as soldiers cordoned off the area.

The retired personnel said their grievances centred on the failure to reflect previous salary increases approved for serving military personnel in their pension payments.

They expressed concern that the latest salary increases approved for serving personnel could further widen the gap unless corresponding adjustments were made to the pensions of retired personnel.

Recall that President Bola Tinubu had approved salary increases for military personnel, with officers from the rank of Colonel and above, including Brigadier-General, Major-General, Lieutenant-General and General, receiving a 30 per cent increase.

Personnel from the rank of Colonel to Warrant Officer were approved for a 50 per cent increase, while soldiers from Staff Sergeant to Private were to receive an 80 per cent increase.

Speaking on behalf of the protesters, Innocent Anas, a retired Lieutenant Colonel, said pensioners were legally entitled to consequential adjustments whenever the salaries of serving personnel were increased.

He said the salary increase approved for military and paramilitary personnel in November 2025 had yet to be reflected in the pensions of retired personnel.

‘Since last year, November last year, Mr President approved the new salary increase for the military and the paramilitary; it’s been in the news all over.

‘November last year, this is August this year; they have not implemented it as if it’s a scam, and then a new pronouncement comes up again,’ he said.

Anas argued that failure to implement the adjustments amounted to depriving retired personnel of their constitutional and legal rights.

‘We have paid our dues in patriotic service to this nation. There is a constitutional provision that when you increase the pay of any personnel, there should be a consequential allowance, consequential adjustment for pensioners,’ he said.

According to him, the latest salary structure should also be accompanied by corresponding adjustments to pension payments to prevent retired personnel from being disadvantaged.

‘If they want to implement it by law, constitution, and the Armed Forces Act, there should be a consequential adjustment, that is, an increase in the pay of pensioners to meet up to par,’ he said.

Anas warned that continued failure to review pensions in line with increases in the salaries of serving personnel would create serious disparities among retirees.

He said some recently retired personnel of lower ranks could end up receiving higher pensions than officers who retired several years earlier.

‘What it means is that as a retired lieutenant colonel, I retired many years ago, my pension could be the equivalent of a lieutenant who retired just recently, because they don’t want to do the adjustment that is constitutional and legal.

‘A couple of sergeants who retired recently could be receiving a pension higher than that of a captain who retired 10 years back, and they served the same military’, he said.

The pensioners called on the Federal Government to urgently address the outstanding adjustments and ensure that retired military personnel benefit from salary reviews approved for their serving counterparts.