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Erling Haaland continued his ruthless scoring form as Manchester City edged past Brentford 1-0, delivering a landmark 250th Premier League victory for manager Pep Guardiola.

Guardiola reached the milestone in just 349 games, the fastest in league history, surpassing the previous best by 55 matches.

The decisive moment came early, as Haaland outmuscled Sepp van den Berg to meet Josko Gvardiol’s looping cross, then twisted away from the defender before calmly slotting past Caoimhin Kelleher.

It was the Norwegian’s third goal in a week and his 18th in just 11 appearances for club and country this season.

After taking the lead, City were forced to defend for more than 80 minutes at the Gtech Community Stadium but restricted Brentford to limited chances in a scrappy second half.

The win lifts Man City to fifth place heading into the international break, though the sight of midfielder Rodri limping off after just 21 minutes sparked concern.

The Spaniard, who previously missed much of last season with an ACL injury, is still searching for the form that earned him the Ballon d’Or last year.

Unlike advanced economies, where it is given, mortgage in Nigeria and, indeed, most of Africa, is a daydream, and those who desire it simply indulge in wishful thinking.

This is because, as an immature economy, policies in Nigeria change frequently, disrupting long-term planning and investor confidence. For instance, inconsistent foreign exchange policies affect lenders with dollar-denominated funding.

Similarly, shifts in regulatory capital requirements, monetary tightening, or sudden withdrawal of subsidies directly impact mortgage pricing and supply. Leapfrog

Experts are of the view that long-term housing finance thrives in stable, predictable policy environments which explains why they canvass dialogue between the government and mortgage stakeholders.

For affordable mortgage to be possible and accessible to those who need it, the government-mortgage stakeholders dialogue is not only urgent, but also essential to create enduring frameworks.

Additionally, some lessons have to be learnt from successful housing finance models around the world that can offer valuable insights for reforming Nigeria’s mortgage system.

‘One critical lesson is the role of government-backed guarantees, such as those provided by the Federal Housing Administration in the United States. These guarantees reduce the risk for lenders, making them more willing to extend long-term credit, particularly to first-time and low-income buyers,’ Adedeji Ajadi, CEO, Mortgage Banking Association of Nigeria (MBAN), said.

Another thing that has to happen, according to Ajadi, is the development of secondary mortgage markets, which help to free up capital for new lending. He explained that, by allowing mortgage lenders to sell off existing loans, they can recycle funds and maintain liquidity, ultimately expanding access to mortgages.

Adedeji, who is also the executive secretary of the association, added that inclusive credit scoring also emerges as a transformative approach, pointing out that in many advanced markets, lenders increasingly rely on alternative data, such as rent history, utility payments, and mobile money transactions, to assess creditworthiness.

‘This broadens the pool of eligible borrowers, particularly those in the informal sector who may not have traditional credit records. Subsidised interest schemes targeted at low- and middle-income households further enhance affordability,’ he explained.

It is expected that these these programmes reduce the effective interest rates on mortgage loans, making monthly payments more manageable and encouraging uptake among underserved demographics.

Digitising land registries is another game-changing reform, because by reducing fraud, ensuring transparency, and speeding up property verification, digitised systems allow for quicker loan approvals and greater investor confidence in the housing market.

To achieve this goal, integrated housing-finance strategies are crucial. Successful systems align housing finance with urban planning and development efforts. This means coordinating land use, infrastructure development, and mortgage financing in a holistic manner to ensure sustainable housing delivery.

Collectively, these lessons point toward a more inclusive, efficient, and scalable housing finance ecosystem, one that Nigeria can adopt to meet the growing needs of its population.

A functional mortgage system depends, to a large extent, on interest rates in the financial system. In Nigeria, the rates are just too high at between 17 percent and 27 percent. Ajadi suggests that to effectively bring down these rates and extend loan tenures in the mortgage market, some steps have to be taken.

‘An ensuring access to long-term capital is crucial. This can be achieved by deepening the secondary mortgage market through institutions such as the Nigeria Mortgage Refinance Company (NMRC), which plays a vital role in providing long-term liquidity to mortgage lenders.

With more refinancing options available, lenders are better positioned to offer affordable and longer-term mortgage products. Secondly, subsidised financing must be part of the solution. Government interventions, including special interventions like MREIF and Family Homes Funds, targeting low- and middle-income earners, can significantly reduce the cost of borrowing, making home ownership more accessible to many people,’ he said.

Public school classrooms in Lagos were scenes of emotion and gratitude on Saturday as Page Financials surprised two long-serving teachers with ?100,000 each in celebration of World Teachers’ Day.

At Ago Iwoye Methodist Primary School, Ebute Meta, 34-year teaching veteran Mrs. Ipinlola Olaiya broke down in tears as representatives of the finance company presented her with the reward. She was one of two educators selected through a nationwide social media nomination campaign organised by the firm to spotlight unsung heroes in Nigeria’s education system.

The second beneficiary, Mr. Fashina, a Creative Arts teacher at Anglican Comprehensive High School, Ipaja, was equally overcome with emotion. On receiving his cheque, he exclaimed ‘Jesus!’ and revealed that his vehicle had broken down and he had been struggling to afford repairs. His principal described him as ‘a model teacher’ who had won Best Teacher of the Year multiple times.

From Left to right, Oluwaseyi Famodimu, Marketing Specialist, Page Financials,Stephanie Sokoh, Financial Advisor, Page Financials, Mrs Ipinlola Olaiya,Head Teacher,Ago iwoye Methodist Primary school, Ola Moses, Head Marketing and Corporate Communications,Page Financials

Explaining the motivation behind the initiative, Ola Moses, Head of Marketing and Corporate Communications at Page Financials, said the company wanted to recognise the quiet dedication of teachers who continue to serve despite limited resources.

‘Teachers are silent builders of our nation’s future. Their consistency, patience, and love for knowledge shape the leaders of tomorrow. Celebrating them is not just our duty, it’s our pride,’ Moses said.

Page Financials, established in 2014, provides consumer loans, investment options, and payment solutions to Nigerians. In recent years, the company has expanded its corporate social responsibility efforts to include programmes that celebrate individuals making a difference in their communities.

The company said the World Teachers’ Day initiative forms part of its broader drive to ‘encourage impact and service’ among Nigerians.

The African Democratic Congress (ADC) has berated President Bola Tinubu’s silence over the growing spread of insurgents into many hitherto peaceful States, blaming the spread on the poor security strategy of the current administration.

During the weekend, intense attacks were reported in Kwara, a State that had been peaceful, with bandits demanding ransoms such as food, money and even drinks, from residents.

Bolaji Abdullahi, ADC National Publicity Secretary, writing on his X handle, blamed President Tinubu for what he described the ‘continued insensitivity to Nigeria’s worsening security crisis, accusing him of prioritising political appearances over his sacred duty of protecting the lives of Nigerians.’

Abdullahi dismissed as mere ‘political rhetoric’ the President’s remarks at the Church of Christ in Nations (COCIN) in Jos that his mission is to unite Nigerians, saying that the President’s actions since he came to office did not indicate that he understands what it takes to unite Nigerians.

Abdullahi lamented that insurgents are gradually spreading into states, such as Kwara and Oyo, with renewed attacks in Kogi, with threats of spreading into South Western states.

‘The newspapers are reporting that nine Local Government Areas in Kwara State, a state that had until this APC-led administration enjoyed a reputation for peace and stability, reportedly came under siege by armed bandits.

‘In a development that underscores the extent of state fragility, residents are now being forced to provide food items, drinks, money, and other services as ransom payments.’

The party expressed deep concerns over the brazen insensitivity of President Bola Ahmed Tinubu to the growing insecurity in the country.

‘This is a complete failure of governance. Yet, the presidency has neither acknowledged the situation nor outlined any plan of action to support the affected communities or hold those responsible to account.

‘On the same day, a similar tragic attack by gunmen was reported in Kogi State, during which travellers were killed and several others, including women and children, were abducted for ransom. Earlier in the week, there were reports that more than 180 schools across states in Northern Nigeria have been shut and children kept at home as a result of worsening insecurity. Unfortunately, these reports form part of a broader and bloodier pattern.

‘From Plateau to Zamfara, Benue to Niger, Kaduna to Kwara, incidents of mass abductions, violent attacks, and forced displacement continue to rise.

‘Despite this, the federal government persists in offering vague assurances that ‘progress’ is being made, an insensitive claim that is being refuted daily in blood and body counts of innocent victims who, it now appears, the gunmen kill for sport.’

‘As the Commander-in-Chief of Nigeria’s Armed Forces, in whom the constitutional authority to secure the lives and property of citizens is vested, the President’s continued preference for attending social and political events in the midst of alarming deterioration of internal security is both unacceptable and irresponsible.’

The party noted that while rural communities are being emptied and schools are being shut down, the President continues to attend funerals and ceremonies involving political associates.

‘This sends the unfortunate message that the President cares more about political appearances than the lives of Nigerian citizens.

‘We recall that earlier in the year, hundreds of people were killed by gunmen in the same Plateau State in attacks that lasted several months, but the President never thought it necessary to visit the state at the time.

‘Instead, the President remained in the cosy comfort of the Presidential Villa to condemn the attacks he should have prevented and issued directives that no one obeyed.

The party dismissed President Tinubu’s claim of progress in the fight against insecurity in Nigeria, describing such claims as ‘a tragic denial of the reality of most Nigerians who have had to bury loved ones in recent days and on a daily basis.

‘This denial by the President, no doubt, emanates either from cruel indifference or tragic oversimplification of a very complex problem.’

Under President Olusegun Obasanjo, a policy was introduced to make flour millers include 10 percent of cassava flour in bread. However, the policy was reversed under late Musa Yar’Adua, but revived under Goodluck Jonathan.

It was quietly shelved under the late Muhammadu Buhari. The policy has been abandoned, leaving some factories shut down.

However, a similar locally-focused policy worked in cement.

Backed by targeted government protection, import restrictions, and the Backwards Integration Policy (BIP), local giants like Dangote Cement were able to scale and dominate both domestic and regional markets.

Before reforms in 2006, Nigeria had been the world’s third-largest importer of cement and clinker, with local production covering less than a quarter of demand. The mismatch between supply and demand led to price instability and slowed infrastructure growth.

The introduction of backward integration, high tariffs on imports, and incentives for local investment turned the tide, creating a clear policy environment that made large-scale investment viable.

However, the same policy drive has failed to deliver in food and beverage, with cassava bread an ample case in point. Attempts were made to replicate the same policy in milk and dairy products, among others, did not work.

Analysts argue that replicating the ‘cement miracle’ in other industries will require not just protective tariffs but a mix of targeted incentives, modern technology, and consistent enforcement against smuggling. Without these, they say, Nigeria’s broader industrialisation agenda risks falling short.

Muda Yusuf, chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE), explained that cement thrived largely because it was driven entirely by private investment, with the government creating a clear policy framework that allowed companies to scale operations and dominate the market.

‘Unlike cement, where private capital took over the entire value chain, sectors such as steel, paper, and refineries have been burdened by heavy government presence. The government doesn’t have a good track record of running such businesses efficiently, and this has been a major setback,’ Yusuf said.

He cited the Ajaokuta and Delta Steel complexes as examples where government ownership and mismanagement stalled progress. ‘If those projects had been structured as private investments, the story of Nigeria’s steel industry would have been completely different,’ he stated, noting that a functional steel sector is critical for supporting industries such as automobiles, fabrication, and construction.

The economist also noted that Nigeria’s paper mills, such as Jebba and Iwopin, suffered similar fates due to flawed privatisation processes, leaving them in the hands of investors without the financial or technical capacity to revive them.

On the textile industry, Yusuf identified smuggling, the influx of second-hand clothes, and high energy costs as the biggest obstacles. ‘Textiles are energy-intensive and foreign exchange-dependent. In an economy where power supply is unreliable and costly, it becomes very difficult to compete with imports from countries like China,’ he explained.

‘Obsolete technologies, some dating back 30 to 40 years, also weigh heavily on Nigeria’s manufacturing competitiveness. ‘When you are running industries with outdated machinery, your costs will always be high, and that undermines your ability to compete in global and even local markets,’ Yusuf added.

Musibau Adetunji Babatunde, commissioner for Budget and Economic Planning in Oyo State, noted that policies in agriculture and manufacturing often fail because they are not properly targeted. ‘If support is well directed to smallholder farmers and professional associations, we would see a faster turnaround,’ he said.

Babatunde argued that policies fail to support the right players. He noted that while backward integration worked in cement, similar policies have not been effectively applied on agriculture and manufacturing.

‘For smallholder farmers who want to export, the procedures are too complex, from certifications at the ports to poorly targeted incentives.

‘If support was channelled directly through their professional associations, with proper monitoring, we would see a faster turnaround, just like cement.

‘The government’s role should be to coordinate and standardise production to meet international export requirements, not to impose blanket programmes that don’t fit Nigeria’s structural realities,’ Babatunde explained.

Recently, a U.S. physician named Pamela Buchanan, MD, wrote on LinkedIn with startling candour. She spoke not of privilege but of pain. ‘We are walking away,’ she wrote, ‘not from medicine, but from a system that breaks us.’ Her post described colleagues who had abandoned their calling, sold their clinics, or switched careers altogether. One now runs a restaurant, while another runs a gym, she bemoaned. They were not defeated by science but by a system where care has become a contest between exhaustion and expense. The moral injury is shared by patients who cannot see a doctor and by professionals who can no longer bear to try.

Upon reading her post, I reached out to a few family members and friends in medical and pharmaceutical practice outside the country. They said she was actually careful in her narrative, and that reality in many places is even harsher. A comment under Dr Buchanan’s post by Nelson Arriaza-Silva, a healthcare professional, extended the narrative: ‘As a healthcare administrator with over 25 years of experience in both for-profit and nonprofit healthcare organisations, I strongly echo Dr Buchanan’s concerns. Too often, upper-level leadership prioritises maximising profits by pressuring medical providers to deliver more with less, rather than supporting the people who are at the heart of patient care..’ Then I recalled the uproar that erupted in our media space in February when Nigeria’s Coordinating Minister of Health, Professor Muhammad Ali Pate, remarked that some people from the United Kingdom and the United States were now coming to Nigeria for treatment, a claim later echoed by Vice President Kashim Shettima. Many dismissed it as improbable and baselessly political. Yet if we step away from outrage and look closely at the state of healthcare worldwide, the claim is less absurd than it first sounded.

In the United Kingdom, the National Health Service is burdened with more than seven million outstanding treatment pathways, and in the United States, the Merritt Hawkins 2024 Survey found that the average wait for a doctor’s appointment in major cities has stretched beyond a month, while the cost of routine diagnostics often rivals some families’ monthly earnings. Kaiser Family Foundation data show roughly 100 million Americans carry medical debt. What these numbers mean for ordinary people is simple. Appointments arrive too late, bills arrive too high, and conditions that could have been managed early become emergencies. Access and affordability are collapsing in systems once held up as models.

These pressures explain why a growing number of Diaspora Nigerians, and some foreigners, now schedule procedures in Lagos or Abuja or Port Harcourt rather than London or Houston. At Zenith Medical and Kidney Centre in Abuja, surgeons perform roughly a dozen kidney transplants every month, totalling over 800 successful transplants since 2019. St Nicholas Hospital in Lagos, now a regional training hub for West Africa, has surpassed its five hundredth case, and there are many more. The newly opened African Medical Centre of Excellence, backed by Afreximbank, is positioning Nigeria to compete in oncology, cardiology, and diagnostics. The meaning for patients is practical. A predictable date for surgery, a bill that can be planned for, and specialist teams that have now done these procedures at scale are powerful reasons to stay home or to come home.

Still, the larger truth remains sobering. Nigeria continues to lose over a billion dollars a year to outbound medical travel. For every patient who flies in, many more still fly out. Yet beneath the imbalance lies a system in transition. The Nigeria Health Sector Renewal Investment Initiative, launched from the Presidency in December 2023, has begun to bring order to decades of fragmentation. All states and development partners have signed onto a single Compact built around one plan, one budget, one report and one conversation, which means funding and effort now meet at the same table rather than pulling in competing directions. Health insurance, made mandatory by the National Health Insurance Authority Act 2022, has moved from aspiration to enforcement. In September 2025, the Presidency directed federal ministries, departments, and agencies to enrol their employees and to link procurement, licensing, and regulatory approvals to proof of coverage, with real-time digital checks so compliance is not on paper but in practice. For workers, this means a card in hand rather than cash at the gate. For employers and providers, it means predictable pools and payments.

Between late 2023 and mid-2025, more than 3.2 million Nigerians were newly enrolled in health insurance, bringing total coverage to about twenty million people, most of them through social schemes. These are not statistics for reports. They are the difference between postponing care and walking into a facility with a defined benefit that can actually be used. The Basic Health Care Provision Fund 2.0 now channels resources directly to primary health centres, subsidising coverage for the poor and vulnerable, which means the first point of contact in the community is financed to function. Nearly ?90 billion has been sent straight to over eight thousand facilities; more than one thousand three hundred have been fully revitalised, and about five thousand more are underway. In the first quarter of 2025, thirty-seven million Nigerians sought care at primary health centres compared with ten million a year earlier. The meaning is clear. People are choosing nearby clinics again, small problems are treated before they become crises, and pressure on tertiary hospitals begins to ease.

The 2023 federal health budget rose by more than forty percent to ?1.17 trillion, matched by an ambitious vaccination drive targeting over one hundred million children. In 2024, it was increased further by 5.5 percent of total expenditure, while this year it’s about six percent of total spending-the highest in over a decade. Claims data from rural providers now feed into digital dashboards that track quality, timeliness, and use, which allows managers to fix bottlenecks with evidence rather than guesswork. Speciality capacity is also moving. Three new oncology centres have opened in Katsina, Enugu, and Benin, with three more planned, and the Presidential Initiative for Unlocking the Healthcare Value Chain has mobilised more than $5 billion in investments, including support from Afreximbank and the European Investment Bank. For Nigerians, this translates to shorter waits for biopsies and radiotherapy, more reliable imaging, and hospitals that can upgrade without spending months trapped in customs and currency shocks.

These efforts have not erased shortages, but they are visible in daily life. Federal workers now receive insurance cards at onboarding, which changes the conversation at the clinic desk from payment first to eligibility and care. Trade groups are negotiating group plans, so market women, artisans, and drivers are not priced out of care at the point of service. NHIA tariffs have been recalculated using actuarial evidence, with capitation rates up ninety-three percent and fee-for-service payments up three hundred and eighty percent. For facilities, this means salaries and supplies can be planned, stockouts become less frequent, and providers have a reason to improve patient experience. Out-of-pocket spending still sits above seventy percent of health expenditure, but the direction of travel is toward pooled purchasing rather than cash payments that push families into debt.

Nigeria’s doctors, like their peers abroad, are weary. Of about one hundred and thirty thousand ever registered, fewer than sixty thousand were active by 2023. The government has responded with a Health Workforce Migration Policy and a National Health Fellows Programme that places young professionals across seven hundred and seventy-four local governments. The intent is straightforward. Communities that have long waited for a clinician are meant to see one more regularly, and hospitals that train talent for export are meant to retain more of it. Yet even physicians who have migrated acknowledge that the systems they joined are themselves faltering under bureaucracy and burnout. What unites both experiences is not geography but exhaustion. It is the cost of caring in systems that reward throughput more than relationships.

Perhaps then, Nigeria’s talk of reverse medical tourism should not be read as self-congratulation but as a glimpse of a shifting map. Competence and confidence are no longer monopolies of wealthier nations. The future of healthcare will hinge less on where technology sits and more on where trust can be found, on which systems can deliver timely, affordable, and humane care when people need it most. For some, that place is now closer to home; for others, it remains abroad. What matters is that the boundaries of credibility are moving.

The physician who cannot prescribe an affordable drug and the patient who cannot afford to see her inhabit the same crisis of access. Until nations, rich and poor alike, make health a guarantee rather than a gamble, the queues will lengthen, the weary will walk away, and the miracle of medicine will remain incomplete. In the end, the question returns to its simplest form, asked quietly in houses and waiting rooms on every continent. Where can I find a doctor?

A nation is often judged by the quality of life it affords its elderly citizens. In developed societies, this is measured by access to healthcare, decent accommodation, and dignity in retirement. In Nigeria, however, this remains a pressing challenge. After years of dedicated service in the public or private sector, many retirees face uncertainty rather than comfort. Securing their future depends on the strength of our pension reform structures and the seriousness with which we implement them.

The reality is that Nigeria’s pension system still needs a comprehensive overhaul. Reforming pension administration is not a luxury; it is a necessity if we are to align with present-day realities and guarantee long-term sustainability. To chart the way forward, we must critically examine the regulatory frameworks guiding the sector and ask whether they are sufficient to safeguard the welfare of contributors and beneficiaries alike.

Pension regulatory frameworks

Pension regulation in Nigeria requires strict compliance with a set of laws, codes, and guidelines designed to ensure accountability, transparency, and the protection of contributors’ funds. The ecosystem involves Pension Fund Administrators (PFAs), custodians, regulators, and government oversight.

Some of the key frameworks include:

Companies and Allied Matters Act (CAMA) 2020 (as amended): This law regulates corporate entities in Nigeria, including PFAs, which must operate within its provisions to ensure proper governance and accountability.

Pension Reform Act (PRA) 2014 (as amended): The bedrock of Nigeria’s contributory pension scheme, the PRA requires employers to contribute a minimum of 10% of employees’ monthly earnings, while employees contribute 8%. These funds are channelled into Retirement Savings Accounts (RSAs), providing a safety net for workers in retirement.

PFA Guidelines: Issued by the National Pension Commission (PenCom), these guidelines direct how PFAs manage assets, disburse payments, and invest contributions. Their core aim is to guarantee both returns and the safety of pension funds.

Money Laundering (Prohibition) Act 2011 (as amended): This law ensures PFAs do not become conduits for illicit financial flows, reinforcing transparency in pension management.

PenCom Rules and Corporate Governance Guidelines: PenCom serves as the chief regulator, issuing policies to promote accountability and best practices in the sector. The 2021 Corporate Governance Code for Pension Business, for instance, outlines principles to enhance public trust, transparency, and efficiency.

Nigerian Code of Corporate Governance (2018): Issued by the Financial Reporting Council of Nigeria, this code provides overarching guidance on how Nigerian corporations should be governed in the interest of all stakeholders, including pension contributors.

These frameworks, collectively, are intended to protect pension assets, ensure compliance, and build a culture of transparency. However, their effectiveness depends on strict enforcement and the ethical conduct of PFAs.

Ethics, responsibility, and oversight

Beyond regulation, fiduciary ethics must remain central. Pension managers must uphold integrity in financial reporting, safeguard contributors’ information, and fulfil service promises without compromise. Issues such as conflicts of interest between PFAs and custodians, lapses in corporate social responsibility (CSR), and inadequate due diligence must be addressed firmly.

For example, separating the roles of pension fund managers from custodians is not a mere formality; it is a safeguard against misuse of funds. Similarly, CSR should not be seen as an optional add-on but as an essential obligation, given the social impact of pension management.

The way forward

Nigeria’s over-reliance on oil revenues has long left its economy vulnerable. By contrast, a well-regulated, trustworthy pension system has the potential to channel long-term funds into national development while simultaneously protecting the welfare of retirees. If managed properly, pension assets can become a source of economic stability, fuelling infrastructure, housing, and other critical sectors.

But reforms must go deeper than technical adjustments. The government must show an unwavering commitment to the welfare of senior citizens. This includes ensuring prompt payment of pensions, strict oversight of PFAs, and sanctions for misconduct. Equally, civil society and the media must demand accountability so that pensioners are not left at the mercy of inefficiency or corruption.

Conclusion

As Nigeria marks its 65th Independence anniversary, we must recognise that the true measure of freedom lies not only in political sovereignty but in how we treat those who laboured to build the nation. The happiness and dignity of our retirees should be a national priority.

Securing their future is not just about compliance with laws and codes; it is about reaffirming our values as a people. If we fail our senior citizens, we fail ourselves. But if we protect their welfare, we reinforce the foundation of trust and responsibility upon which a stronger, fairer Nigeria can be built.

Operators in Nigeria’s multi-billion-naira hospitality industry have urged Government to extend greater support to the sector brand to strengthen their capacity as key drivers of economic growth.

The stakeholders, who acknowledged the need at the just-concluded Hotel Expo Nigeria (HEN) held in Lagos, also appealed to Government to promptly address the issues of insecurity and infrastructure deficit that continue to serve as huge hindrances to the growth of the hospitality sector.

Jonathan Hansen, founder and convener of HEN, believed that it had become important for Government to give brands and operators in the hospitality business the much-needed support since the sector remains one of the largest employer of labour.

The players explained that one of the objectives behind the annual exhibition of brands in the sector was to create awareness for the sector and provide a platform, annually, for operators to network.

Hansen further expressed delight that the annual event, which made its debut in 2019 with 14 participants had begun to gain popularity among stakeholders, with 65 brands, leveraging the platform this year to network and establish enduring business partnerships.

‘Government partnership has not been easy. The only thing that we’ve got is endorsement. This is an industry government should see as a driver of employment creation, since the ecosystem is seen as the highest employer’, he added.

Ntewak Umoh, Hospitality Business and Inventory Management Consultant, believed the exhibition offered vendors the opportunity to come together to provide wide range of businesses that, ordinarily, would have been difficult to access at a spot.

Nigeria must demonstrate openness, fairness, and predictability to attract sustainable capital inflows, according to Olaniyi Yusuf, Chairman of the Nigerian Economic Summit Group (NESG), who noted that Nigeria’s foreign direct investment remains weak despite slight improvements in fiscal conditions.

In his opening statement at the ongoing Nigerian Economic Summit in Abuja on Monday, Yusuf said that the way Nigeria treats its domestic investors will serve as a signal to foreign investors assessing the credibility and stability of the country’s business environment.

He stressed that policy predictability, investment protection and transparent mechanisms for resolving business disputes are critical to rebuilding trust in the economy.

‘How we treat domestic investors will provide the right signals for foreign investors,’ Yusuf said, urging the government to prioritise clarity and continuity in economic policy.

The NESG chairman noted that while Nigeria’s fiscal condition has improved, the economy continues to face persistent inflationary pressures, high debt-service obligations, and subdued investor sentiment.

‘Our fiscal condition has improved, while expectation pressures persist, and the fiscal debt remains the same, widening to ?15.5 trillion in 2024. Debt levels are stable, and the debt-to-GDP ratio of 40.6 per cent remains much the same, with a high debt-to-service ratio. Foreign capital is close to the boundary, yet foreign direct investment remains weak,’ he said.

Yusuf reminded participants that policy credibility, incentives, and social competitiveness are essential to attracting long-term capital from both domestic and foreign investors. He said Nigeria’s economic story is one of transition of undeniable progress amid sustained fragility.

According to him, the NESG’s last three macroeconomic outlook reports have outlined a roadmap for economic transformation built around three key phases: stabilisation, consolidation, and acceleration.

‘Today, we can say that the stabilisation phase is materialising, albeit painfully and with fragility. But stabilisation, as necessary as it is, is not the destination, and so cannot be the end of our journey. If we stop here, we risk losing the progress that has been so courageously won’, he said.

The renovation of the Wole Soyinka Centre for Culture and Creative Arts (National Arts Theatre) with N68 billion by the Central Bank of Nigeria (CBN)-led Bankers’ Committee opens a new chapter for global relevance for Nigeria’s arts and culture. The project championed by the Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee opens new opportunities for financial institutions to invest and support the Federal Government’s vision of a $1 trillion economy. For the CBN Governor, Olayemi Cardoso, the investment remains one of Bankers Committee’s deliberate investment in Nigeria’s cultural future.

The Central Bank of Nigeria (CBN)-led Bankers’ Committee commitment to the creative economy came to the fore last Wednesday when the Wole Soyinka Centre for Culture and Creative Arts (National Arts Theatre) was reopened in Iganmu, Lagos.

The event, attended by President Bola Ahmed Tinubu was opportunity to highlight the CBN’s commitment to private sector-led investment in the arts and culture space.

Cardoso had lauded the role of the Bankers’ Committee in bringing back the moribund national edifice back to life.

President Tinubu further directed Cardoso to float National Arts Theatre Endowment Fund that would ensure continuous maintenance of the national edifice.

‘It has been a wonderful evening, and I have enjoyed myself. It is now left for Cardoso and others to put together an endowment fund, and I will contribute to it. It’s not a bad thing for us to use this opportunity to create jobs, maintain accessibility, and commitment. This place will not go dry again’, President Tinubu said.

The event was attended by the First Lady, Senator Oluremi Tinubu, Governor of Lagos State, Babajide Sanwo-Olu; the Honourable Minister of Art, Culture, and the Creative Economy, Hannatu Musawa and other dignitaries.

President Tinubu said there was no controversy in the National Theatre renaming Wole Soyinka Centre for Culture and Creative Arts, adding that he considered Prof. Wole Soyinka’s contributions to the arts and culture.

‘Prof. Wole Soyinka is one of the greatest assets of the world. So, the renaming could not have gone to anyone else,’ he said.

President Tinubu advised that Nigerians stop talking about Nigeria in a negative way. ‘Let us all come together to rebuild Nigeria. The youths should also renew their hope in Nigeria and work together for her continued greatness,’ he said.

Bankers’ Committee funding

Cardoso said the Bankers’ Committee committed N68 billion into the remodeling of the National Arts Theatre.

‘The Central Bank of Nigeria, the Bankers’ Committee, the Lagos State Government, and the Ministry of Art, Culture, and the Creative Economy came together with a shared purpose to deliver this national project, with the Bankers’ Committee alone committing approximately N68 billion, not as corporate social responsibility but as a deliberate investment in Nigeria’s cultural future,’ Cardoso said.

He said that the project stands as proof that when the public and private sectors unite behind a shared national purpose, there is no limit to what Nigeria can achieve.

He disclosed that 65 years after our nation’s founding, Nigeria’s creative spirit remains alive, pervasive, and shaping global culture.

‘This edifice has stood for nearly half a century as a proud symbol of our heritage. Completed in 1976 and inaugurated at FESTAC ’77, it became a beacon of African creativity and a repository of our shared history,’ he said.

He said that in 2020, the Federal Government approved a landmark public-private collaboration: the transfer of the Theatre and its estate into a special partnership with the Central Bank, on behalf of the Bankers’ Committee.

‘What began as an ambitious vision to reimagine an aging monument as a world-class creative hub has today become a stunning reality. The journey was not without challenges. Structural complexities, contractual issues, and even the global pandemic extended the timeline far beyond expectations,’ he said.

‘ This was a project especially close to the President’s heart, and it was his vision that transformed it from a restoration into a symbol of national renewal. By renaming the National Arts Theatre as the Wole Soyinka Centre for Culture and Creative Arts in July 2024, President Tinubu charted a bold course to place creativity at the heart of Nigeria’s renaissance,’ he said.

Cardoso explained that the Wole Soyinka Centre is more than a renovation; it is a rebirth.

‘Its iconic silhouette has been preserved while delivering world-class performance halls, cinema spaces, exhibition galleries, an African literature library, rehearsal rooms, media and medical facilities, and fully modernised infrastructure. The surrounding grounds now offer gardens, outdoor exhibition areas, upgraded access, and seamless integration with the Lagos Blue Line rail, placing culture at the heart of city life,’ he said.

Nobel Laurette, Prof. Wole Soyinka, said that before the renovation of the edifice, he thought it was irredeemable but the Bankers’ Committee made me to eat my words.

He said the Bankers’ Committee had done a great job, and brought the edifice to global standards.

He said that with the recreation of the edifice, Nigerians can now watch Africa Theatre at home instead of traveling abroad,’ he said.

On his part, Governor Sanwo-Olu reflected on the deep historic significance of the event.

He described the reopening of the Theatre as more than a renovation, it was a cultural and spiritual rebirth. He recalled that nearly 50 years ago, the same venue hosted FESTAC ’77, a pan-African celebration of culture and unity. The event, he said, demonstrated Africa’s capacity to use culture as a unifying force.

The renaming of the Theatre in honour of Wole Soyinka, he added, reflects both respect for a national icon and Nigeria’s cultural ambition on the global stage.

Sanwo-Olu highlighted the collaboration behind the transformation of the Theatre. He credited the Federal Government, CBN, Bankers’ Committee, and Lagos State for the successful execution of the project. He also noted that Lagos contributed additional land for the development and ensured direct connectivity to the Lagos Blue Line Metro, placing infrastructure and accessibility at the core of the revitalised complex.

How it started

The Memorandum of Understanding (MoU) for the handing over of the National Arts Theatre to the Bankers’ Committee by the Federal Government was signed in February 2021, and had initial completion timeline of 15 months, and estimated cost of N21.3 billion

Themed the ‘Lagos Creative and Entertainment Centre’, the project is expected to restore the glory of an iconic building by aligning most of the fabric and equipment and facilities in the building with the aesthetics of the 21st century.

Cardoso had earlier commended the work done and the vision that has repositioned the Theatre to a world class status.

He said: ‘Well, firstly, it is highly commendable what we are seeing here today. One has to commend the vision and resources of the Bankers’ Committee for doing this. It has been a long, hard road, and if it was not for the belief and the commitment of those sponsors, this would never be realized.’

He explained that it would have been a great disservice to the country if this was not achieved, because embedded in the theatre is a lot of the history and culture of the Nigerian people.

He said the Bankers’ Committee had a vision, and were determined to surmount all the obstacles in getting the theatre to where it is today.

‘For me as a Lagosian, I grew up here, and saw this in 1977 when we had FESTAC and subsequent times, we used to come here to have different events and activities and we were very proud of what we had as Lagosians. Sadly, the edifice, which was iconic at a time, fell into a state of abandonment,’ he said.

‘So, to have been able to live today, to see this massive transformation to a world class structure is again a testimony to the Nigerian spirit. For those who are going to be using the edifice and those whom it is home to their profession, it is a giant step forward. It is something that we all as Nigerians should be extremely proud of,’ he added.

He said the difficult work on the theatre has already been done, adding that not just the Bankers’ Committee, but all Nigerians should take pride in defending the Theatre.

‘This is a very, very, very major reflection. And when you go around and you see, and some of you have toured already, you will see that a lot of our culture is embedded in the structures here. So, it is beyond just an edifice. It is what it represents.’

‘Going forward, I am very certain that the partnership that has taken place between the private sector and public sector that has resulted in this, that spirit, in conjunction with the Nigerian people, will take us to the next level,’ he said.

The Bankers’ Committee also, funded the prototype cluster located to the north of the National Arts Theatre, labelled the ‘Signature Cluster’ consisting of a building each for Music, Film, Fashion and Information Technology verticals.

The main contractor for the project is Cappa and D’Alberto Limited while the Electrical Sub Contractor is being handled by Nairda Limited, and VACC Limited is in charge of the Mechanical Sub Contractor.

The aim is to deliver a successful Creative and Entertainment city that will encourage additional investment into Nigeria’s creative industry.

According to the Bankers’ Committee, a portion of the site was earmarked for the construction of the ‘Signature Cluster’, which consists of one building each for Fashion, Music, Film and IT.

The committee, said each structure was uniquely designed to function independently, yet providing the opportunity for extensive collaborations between the different creative communities.

The 44-hectare site adjourning the National Theatre will be developed and utilised for the development of purpose-built creative hubs for the Fashion Industry, Music and Film as well as Information Technology (IT).

The Bankers Committee said the project will deliver a successful Creative and Entertainment city that will encourage additional investment into Nigeria’s creative industry.

X-raying the National Arts Theatre

The National Arts Theatre stands as one of Nigeria’s most iconic landmarks.

Analysts believe the project will open financing opportunities for commercial banks when activities fully commence after the renovation.

On October 5, 2019, President Muhammadu Buhari approved the reconstruction of the National Theatre in Iganmu, Lagos, into a world-class convention center for the development of the creative sector in diverse areas, including entertainment, movies, music, fashion, and Information and Communication Technology (ICT).

As the initial investment in the creative industry, the government expects to create at least one million jobs when the project begins operations.

In 2022, the CBN and the Bankers’ Committee collectively agreed to invest over N65 billion to rehabilitate the National Arts Theatre and restore it to its former glory. This effort has been carried out in collaboration with the Federal Ministry of Information and Culture (FMIC), the Ministry of Youth and Sports Development, and the Lagos State Government.

Analysts said banks have opportunity to finance activities at the National Theatre but that depends how it is managed. According to them, there would be a lot of activities such as cultural, training schools, events, and skill development, among other activities that will require banks involvement.